(Securities Code 7616 TSE PRIME)
August 14, 2024
To whom it may concern,
Company
Representative

COLOWIDE Co., Ltd.
Kohei NOJIRI

Inquiries

President & Representative Director
Masaaki YONEMURA
Chief of Corporate Planning Department(TEL +81-45-274-5970)

Consolidated Financial Results for the Three Months ended June 30, 2024〔Under IFRS〕（Completion of Review by an Independent Auditor）

We are pleased to announce that our quarterly consolidated financial statements have been reviewed by certified public accountants
and others during the period, as disclosed in our "Consolidated Financial Results for the Three Months ended June 30, 2024 [Under
IFRS] " on August 9, 2024.
In addition, there are no changes to the quarterly consolidated financial results announced on August 9, 2024.

End

- 1 -

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between thistranslated document and the Japanese original, the original shall prevail. In addition, the independent auditor’s review report attached to theJapanese original, which is the subject of this translation, is not included in the scope of this translation.

Independent Auditor Reviewed Consolidated Financial Results for the Three Months Ended
June 30, 2024 [Under IFRS]
August 14, 2024
Tokyo Stock Exchange
PRIME

Company name

COLOWIDE Co., Ltd.

Securities code

7616

URL https://www.colowide.co.jp/

Representative(Title)President and Representative Director

Kohei NOJIRI

Inquiries(Title)Chief of Corporate Planning Department

Masaaki YONEMURA

Scheduled date to commence
dividend payment

TEL +81-45-274-5970－

Preparation of supplementary material of financial results

None

Holding of financial results briefing

None(Yen amounts are rounded to millions)1.Consolidated Financial Results for the Three Months ended June 30, 2024
(From April 1, 2024 to June 30, 2024)(1) Consolidated Operating results (accumulated total)
Revenue(% indicates changes from the same period of the previous year)

Business Profit*1

Profit before tax

ProfitMillions of yen%%

Millions of yen%

Millions of yen%

Millions of yen%

June 30, 2024

63,39010.7

2,018 (2.5)

4,118

4.0

2,077

(39.3)

1,520(39.7)

June 30, 2023

57,243

11.6

2,068

3,961 110.3

3,418

965.7

2,520

－

Three months ended

Millions of yen

EBITDA*2

Profit attributable toowners of parent－

Total Comprehensive Income

Basic earnings per share

Diluted earnings per share

Millions of yen%

Millions of yen

%

Yen

Yen

June 30, 2024

1,032

(50.1)

1,771(32.3)

5.84

5.84

June 30, 2023

2,069

－

2,615

740.8

17.89

17.89

Three months ended*1 Business Profit = Revenue – Cost of Sales – Selling, general and administrative expenses*2 EBITDA = Business Profit + Depreciation and amortization (excluding depreciation of right-of-use assets)
Operating profit for the three months under IFRS was 1,941 million yen.
(2) Consolidated Financial Position
Total assets

Total equity

Equity attributable toowners of parent

Ratio of equity
attributable to owners ofparent to total assets%

Equity attributable toowners of parent per
share
Yen

Millions of yen

Millions of yen

Millions of yen

June 30, 2024

277,787

54,81245,20316.3

342.28March 31, 2024

265,115

54,13544,95417.0

339.47

As of

- 2 -

2. Cash Dividends
Annual Dividends per shareFirst quarter end

Second quarter end

Third quarter end

Fiscal year end

Total

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

March 31, 2024

－

0.00

－

5.00

5.00

March 31, 2025
March 31, 2025
(Forecast)

－
0.00

－

5.00

5.00

(Note) Revisions to the most recently announced dividend forecasts：None
The above "Cash Dividends" shows the status of dividends on common shares. For dividends on class shares (unlisted) issued by theCompany, which have different rights from those of common shares, please refer to "Preferred Share Dividends" below.
3. Forecast of Consolidated Financial Results for the Fiscal year ended March 31, 2025 (April 1, 2024 to March 31, 2025)(% indicates YoY changes)
Revenue

Full Year

Millionsof yen263,443

Business Profit%
9.2

Millionsof yen11,005

EBITDA%

26.3

Millionsof yen20,492

Profit%22.1(Note) Revisions to the most recently announced earnings forecasts：None- 3 -Millionsof yen3,877

Profit attributableto owners of parent
Millions%%of yen(4.6)
2,034(30.0)

Basic earnings
per share
Yen
17.41

*Notes(1) Significant changes in the scope of consolidation during the period under review：None
Newly added -(number of companies) (company name)Excluded -(number of companies) (company name)(2) Changes in accounting policies and accounting estimates(i) Changes in accounting policies required by IFRS: Yes(ii) Changes in accounting policies other than (i): None(iii) Changes in accounting estimates: None
(3) Number of issued shares (Common shares)

As of June 30,
2024

86,707,230(iii) Average number of shares outstanding
during the period(cumulative for the quarter)

As of March 31,
2024

196,199

As of March 31,
2024

86,679,497

shares196,424

86,903,541

shares

As of June 30,2024

As of March 31,

shares(ii) Number of treasury shares at the end of
period86,903,541

shares2024

shares

As of June 30,

period (including treasury shares)

shares(i) Total number of issued shares at the end of

2024*Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants
or an audit firm: Yes (voluntary)* Proper use of earnings forecasts and other special notes(1) The Company applies International Financial Reporting Standards (IFRS).
(2) The forward-looking statements, including earnings forecasts, contained in this document are based on information currently
available to the Company and certain assumptions that the Company believes to be reasonable, and actual results may differ
substantially due to various factors.

- 4 -Preferred Share Dividends
Details of dividends per share and total dividends on shares in classes with different rights from those of common shares are as
follows.
Preferred shares
Dividends per share(Record date)

Second quarter end

Third quarter end

Preferred shares

Yen

Yen

Yen

Yen

Yen

Yen

Fiscal year ended
March 31, 2024

－

－

－

3,149,090.00

3,149,090.00

94,472,700.00

Fiscal year ending
March 31, 2025
(Forecast)

－

－

－

3,252,730.00

3,252,730.00

97,581,900.00

Second series preferredshares

Yen

Yen

Yen

Yen

Yen

Yen

Fiscal year ended
March 31, 2024

－

－

－

3,649,090.00

3,649,090.00

109,472,700.00

Fiscal year ending
March 31. 2025
(Forecast)

－

－

－

3,752,730.00

3,752,730.00

112,581,900.00

Third series preferredshares

Yen

Yen

Yen

Yen

Yen

Yen

Fiscal year ended
March 31 2024

－

－

－

3,500,000.00

3,500,000.00

315,000,000.00

Fiscal year ending
March 31, 2025
(Forecast)

－

－

－

3,500,000.00

3,500,000.00

315,000,000.00- 5 -Fiscal year end

Total cash dividends（Total）

First quarter end

Annual○ Table of contents
1.Qualitative information on quarterly financial results under review …………………………………………………………

2(1)Operating Results …………………………………………………………………………………………………………

2(2)Financial Position …………………………………………………………………………………………………………

3(3)Future Outlook …………………………………………………………………………………………………………….

3

2.Quarterly consolidated financial statements and Notes ……………………………………………………………………….

4(1)Quarterly consolidated statement of financial position ……………………………………………………………………

4(2)Quarterly consolidated statement of income ………………………………………………………………………………

6(3)Quarterly consolidated statement of comprehensive income………………………………………………………………

7(4)Quarterly consolidated statement of changes in equity …………………………………………………………………..

8(5)Quarterly consolidated statement of cash flows …………………………………………………………………………..

10(6)Notes to quarterly consolidated financial statements ……………………………………………………………………..

11(Basis of preparation of quarterly consolidated financial statements) ………………………………………………….

11(Notes for assumption of going concern) ……………………………………………………………………………….

11(Segment information) ………………………………………………………………………………………………….

11(Notes on Changes in Accounting Policies) …………………………………………………………………………….

14

-1-

1. Qualitative information on quarterly financial results under review(1) Operating Results
During the first quarter of the consolidated fiscal year under review, the Japanese economy saw an
improvement in employment and income conditions, but the negative trend in real wages continued due torising prices caused by the weak yen. In addition to factors that recovery in demand has run its course since
the end of the Corona disaster, business confidence in the non-manufacturing sector began to deteriorate,
although it remained at a high level. Furthermore, the outlook for the global economy remains uncertain due
to such factors as global political instability and slowing economic growth in China.
In the food service industry, while upward pressure on costs and labor shortages continue to persist, in
addition to the thriftiness of daily life, consumers are becoming more selective even in dining out on special
occasions, and more efforts are required to increase satisfaction while controlling costs.
Under these circumstances, our group is striving to strengthen our brand to be chosen by consumers and topromote our business with a view to enhancing our corporate value over the medium term.
As for product-related measures, the grand menu of each brand was changed to cope with soaring
procurement prices, and product composition and recipes were reviewed in detail. ATOM CORPORATION iscollaborating with COLOWIDE MD Co., Ltd. in the product planning department to maximize synergy
effects in the Group's merchandising and to speed up the product development process.
We also focus on initiatives to increase customer satisfaction. Kappa Sushi offers high value-added items
such as crab and tuna chutoro (medium fatty tuna) at 100 yen per plate (110 yen including tax), which has
gained strong customer support. At Freshness Burger, the "Pakuchi Chicken Burger with 10 times more
Pakuchi" and other distinctive fair menu items have contributed to increasing customer appeal through mass
media exposure and the spread of the menu on social networking services. Steak MIYA, reaching its 50th
year, is now selling "thick cut steak" at a reasonable price and has also revived its once popular "MIYA
Lunch" for its local fan base.
In terms of sales promotion measures, each brand selects media and appealing content according to thesituation in which it is placed. In April, OOTOYA began airing a new TV commercial that promotes themessage of "another dining experience that is healthy and safe even if eating every day" as an effort to attract
potential customers and those who got bored and stopped coming. Kappa Sushi, which is in a highly
competitive market, continues to utilize celebrity personalities to generate interest in its commercials, andaims to attract customers by launching limited-time-only products that offer good value. Gyu-Kaku alsocollaborated with popular anime, offering menu items and goods in conjunction with "Kimetsu-no-Yaiba"(Demon Slayer).
In Japan, we are opening new restaurants in suburbs, roadside areas, and shopping centers under the
Gyu-Kaku brand and its derivatives, as well as OOTOYA and other brands. Overseas, we are aiming for
expansion through both direct management and franchise in Asian countries and North America, where we are
currently operating, and are also promoting the development of areas where we have not yet opened
restaurants. In June, we established REINS PALACE MIDDLE EAST SPV LTD in a joint venture with
Chinese Palace Corporate Management LLC, a leading UAE company, and plan to open the first Gyu-Kaku
restaurant in Dubai by December 2024.
In April, in order to expand the dessert business, we acquired all shares of Nihon Meika Souhonpo Co., Ltd.
which has brands such as "Cheese Garden", "Criollo", and "GrindelBerg" that are extremely superior in
quality among customers.
In the catering service business, which we plan to expand dramatically, we established Heartful Dining Co.,
Ltd. in April as a joint venture with Nippon General Food Corporation, which operates catering services
mainly in the Chukyo region, for the purpose of "creating a new type of catering business that combines theknow-how of food service and catering". Furthermore, in June, we acquired all shares of Socio Food Service
Co., Ltd., which operates hospital and nursing home catering services on a nationwide contract basis.
We are also focusing on sustainability initiatives, and ATOM CORPORATION has sold "Yonago Osashimi
Masaba" (Yonago Sashimi Chub mackerel), "Shirayuki Hirame" (flounder), and other sushi raised by landbased aquaculture, which is environmentally friendly and reduces parasite infestation, at its gourmet
conveyor-belt sushi restaurants such as Nigiri no Tokubei and Kaisen ATOM. In addition, Kappa Sushi, which
is mostly roadside restaurants, has decided to install regular EV chargers in some of its restaurants.
Regarding store openings and closings, we opened 30 directly operated restaurant-type stores, while closing
16 directly operated restaurant-type stores and 1 directly operated izakaya (Japanese-style pub)-type store, fora total of 17 stores. In addition, Nihon Meika Souhonpo Co., Ltd. became a consolidated subsidiary of the-2-Company in April 2024, resulting in their 35 directly operated stores becoming the Group stores, bringing thenumber of directly operated stores to 1,451 and the total number of stores including franchised stores to 2,613
at the end of the first quarter of the current consolidated fiscal year.
Despite these efforts, consolidated results for the first quarter of the current consolidated fiscal year wereaffected by an increase in selling, general, and administrative expenses, due in part to the strengthening ofsales promotion measures by KAPPA-CREATE CO., LTD. and REINS international inc. to enhance revenue,
including in the future, and were resulted that Revenue was 63,390 million yen, Business profit was 2,018
million yen, IFRS operating income was 1,941 million yen, Profit was 1,520 million yen, and Profit
attributable to owners of parent was 1,032 million yen.
The decrease in income below IFRS operating profit compared to the first quarter of the previous fiscal year
is due to the fact that in the previous fiscal year, other operating income included a one-time gain on sale ofbusiness and exit fees.
The Group's revenues by segment were as follows: COLOWIDE MD Co., Ltd. 22,140 million yen; ATOMCORPORATION 8,638 million yen; REINS international inc. 22,355 million yen; KAPPA-CREATE CO.,LTD. 17,827 million yen; OOTOYA Holdings Co., Ltd. 7,406 million yen, and others 8,211 million yen.
The revenues by segment do not take into account inter-segment revenues or transfers.

(2) Financial Position(i) Assets, Liabilities and Equity
Total assets increased by 12,672 million yen from the end of the previous consolidated fiscal year to 277,787
million yen at the end of the first quarter of the current consolidated fiscal year. This was mainly due to a
13,381 million yen increase in goodwill and a 4,997 million yen increase in property, plant and equipment,
despite a 7,992 million yen decrease in cash and cash equivalents.
Total liabilities increased by 11,994 million yen from the end of the previous consolidated fiscal year to222,975 million yen. This was mainly due to increases of 8,049 million yen in bonds and borrowings and2,476 million yen in trade and other payables, despite a decrease of 1,163 million yen in provisions.
Total equity increased by 678 million yen from the end of the previous consolidated fiscal year to 54,812
million yen. This was mainly due to a 79 million yen increase in retained earnings and a 428 million yen
increase in noncontrolling interests.
(ii) Cash Flows
Cash and cash equivalents at the end of the quarter under review amounted to 38,314 million yen, down by
7,992 million yen from the end of the previous consolidated fiscal year, as a result of net cash provided byoperating activities of 6,240 million yen, net cash used in investing activities of (13,135) million yen, net cashused in financing activities of (1,242) million yen, and the effect of exchange rate changes on cash and cash
equivalents of 145 million yen.
Cash flows from operating activities were mainly due to profit before tax, and depreciation and amortization.
Cash flows from investing activities were mainly due to payments for acquisition of consolidated
subsidiaries and payments for purchase of property, plant and equipment.
Cash flows from financing activities were mainly due to a net increase in short-term borrowings, repaymentof long-term borrowings, and repayment of lease liabilities.
(3) Future Outlook
The consolidated earnings forecast for the fiscal year ending March 31, 2025 remains unchanged from thefull-year consolidated earnings forecast announced on May 9, 2024.

-3-

2. Quarterly consolidated financial statements and Notes(1) Quarterly consolidated statement of financial position(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent Assets
Cash & cash equivalents
Trade & other receivables

46,307
13,15838,314
13,813

Other financial assets
Inventories

542
3,932

570
4,233

Income taxes receivables
Other current assets

160
3,177

193
3,392

Total current assets

67,27560,516

Non-current Assets
Property, plant &equipment

48,10053,097Right-of-use assets
Goodwill

23,25382,53424,566
95,914

Intangible assets
Investment property

9,979
387

9,718
387

Other financial assets
Deferred tax assets

20,71912,37020,966
12,096

Other non-current assets

499

528

Total non-current assets

197,840

217,272

265,115

277,787

Total Assets-4-

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities & Equity
Liabilities
Current Liabilities
Trade & other payables
Bonds & borrowings

23,99939,09825,79647,188

Lease liabilities
Other financial liabilities

14,82626

14,19748

Income taxes payable
Provisions

1,059
4,663

539
3,515

Contract liabilities
Other current liabilities

220
10,873

253
12,703

Total current liabilities
Non-current liabilities

94,765104,239

Trade & other payables
Bonds & borrowings

4,527
82,893

5,207
82,853

Lease liabilities
Other financial liabilities

18,388
1,951

20,392
1,778

Provisions
Deferred tax liabilities

6,498
303

6,484
270

794
862

782
970

Contract liabilities
Other non-current liabilities

116,216

118,736

Total Liabilities
EquityTotal non-current liabilities

210,981

222,975

Share capital
Capital surplus

27,90540,532

27,90540,533

Treasury shares
Other components of equity

(126)
(139)

(126)
32

Retained earnings(23,219)(23,140)

Total equity attributable to owners of parent
Non-controlling interests

44,954
9,181

45,203
9,609

Total Equity

54,13554,812

265,115

277,787

Total liabilities & Equity-5-(2) Quarterly consolidated statement of income
Three months ended
June 30, 2023
(From April 1, 2023 toJune 30, 2023)
57,24324,421(Millions of yen)Three months ended
June 30, 2024
(From April 1, 2024 toJune 30, 2024)
63,39027,084Gross profit
Selling, general & administrative expenses

32,82130,75336,30634,288Business profit

2,068

2,018

Other operating income
Other operating expenses

1,363
235

224
300

IFRS Operating profit
Finance income

3,197
913

1,941
894

Revenue
Cost of sales

Finance costs

691

759

Profit before tax
Income tax expenses

3,418
899

2,077
557

Profit

2,520

1,520

Profit attributable to
Owners of parent

2,069

1,032

451

488

2,520

1,520

17.89
17.89

5.84
5.84

Non-controlling interests
ProfitEarnings per share
Basic earnings per share (yen)Diluted earnings per share (yen)-6-(3) Quarterly consolidated statement of comprehensive income
Three months ended
June 30, 2023
(From April 1, 2023 toJune 30, 2023)
2,520(Millions of yen)Three months ended
June 30, 2024
(From April 1, 2024 toJune 30, 2024)
1,520

Financial assets measured at fair value through othercomprehensive income

14

21

Total items that will not be reclassified to profit or loss

14

21

ProfitOther comprehensive income
Items that will not be reclassified to profit or loss

Items that may be reclassified to profit or loss
Exchange differences in transaction of foreign
operations
Cash flow hedges

123

123

(41)

107

Total items that may be reclassified to profit or loss

82

230

96

251

2,615

1,771

Owners of parent
Non-controlling interests

2,123
492

1,203
568

Comprehensive income

2,615

1,771

Other comprehensive income, net of tax
Comprehensive income
Comprehensive income attributable to-7-(4) Quarterly consolidated statement of changes in equity
Three months ended June 30, 2023 (From April 1, 2023 to June 30, 2023)(Millions of yen)
Equity attributable to owners of parent
Other components of equity
Financial assets
measured at fair
Treasury sharesvalue throughothercomprehensive
incomeShare capital

Capital surplus

27,90540,482

(143)

7

(246)

Profit

－

－

－

－

－

Other comprehensive income

－

－

－

12

(40)

－

－

－

12

(40)

Purchase of treasury shares

－

－

(0)

－

－

Disposal of treasury shares

－

0

0

－

－

Dividends

－

－

－

－

－

－

(0)

－

－

－

－

(2)

－

－

－

－

(2)

(0)

－

－

27,90540,479

(143)

19

(286)

Balance as of April 1, 2023

Comprehensive income

Changes in ownership interests of parent
due to transactions with non-controllinginterests
Changes in ownership interests in
subsidiaries
Total transactions and others with owners
Balance as of June 30, 2023

Cash flow
hedgesEquity attributable to owners of parent
Other components of equity
Exchangedifferences on
Othertranslation of component offoreignequityoperation
Balance as of April 1, 2023

Retainedearnings

Total equity
attributable toowners ofparentNoncontrollinginterests

Total capital

(88)

(327)

(25,172)

42,745

7,956

50,701

Profit

－

－

2,069

2,069

451

2,520

Other comprehensive income

83

54

－

54

42

96

83

54

2,069

2,123

492

2,615

Purchase of treasury shares

－

－

－

(0)

－

(0)

Disposal of treasury shares

－

－

－

0

－

0

Dividends

－

－

(952)

(952)

(19)

(971)

－

－

－

(0)

0

(0)

－

－

－

(2)

(4)

(6)

Total transactions and others with owners

－

－

(952)

(954)

(23)

(977)

Balance as of June 30, 2023

(5)

(273)

(24,054)

43,914

8,425

52,339Comprehensive income

Changes in ownership interests of parent
due to transactions with nooncontrolling interests
Changes in ownership interests in
subsidiaries-8-Three months ended June 30, 2024 (From April 1, 2024 to June 30, 2024)(Millions of yen)
Equity attributable to owners of parent
Other components of equity
Financial assets
measured at fairvalue throughothercomprehensive
incomeShare capital

Capital surplus

Treasury shares

27,90540,532

(126)

44

(223)

Profit

－

－

－

－

－

Other comprehensive income

－

－

－

20

105

－

－

－

20

105

Purchase of treasury shares

－

－

(0)

－

－

Disposal of treasury shares

－

－

－

－

－

Dividends

－

－

－

－

－

－

0

－

－

－

－

－

－

－

－

－

0

(0)

－

－

27,90540,533

(126)

64

(119)

Balance as of April 1, 2024

Comprehensive income

Changes in ownership interests of parent
due to transactions with non-controllinginterests
Changes in ownership interests in
subsidiaries
Total transactions and others with owners
Balance as of June 30, 2024

Cash flow
hedgesEquity attributable to owners of parent
Other components of equity
Exchangedifferences on Total othertranslation of component offoreignequityoperations
Balance as of April 1, 2024

Retainedearnings

Total equity
attributable toowners ofparentNoncontrollinginterests

Total equity

40

(139)

(23,219)

44,954

9,181

54,135

Profit

－

－

1,032

1,032

488

1,520

Other comprehensive income

47

171

－

171

80

251

47

171

1,032

1,203

568

1,771

Purchase of treasury shares

－

－

－

(0)

－

(0)

Disposal of treasury shares

－

－

－

－

－

－

Dividends

－

－

(952)

(952)

(141)

(1,094)

－

－

－

0

1

1

－

－

－

－

－

－

Total transactions and others with owners

－

－

(952)

(953)

(140)

(1,093)

Balance as of June 30, 2024

86

32

(23,140)

45,2039,609

54,812Comprehensive income

Changes in ownership of parent due totransactions with non-controllinginterests
Changes in ownership interests in
subsidiaries-9-(5) Quarterly consolidated statement of cash flows(Millions of yen)Three months ended
June 30, 2024
(From April 1, 2024 toJune 30, 2024)

Three months ended
June 30, 2023
(From April 1, 2023 toJune 30, 2023)
Cash flows from operating activities
Profit before tax

3,418

2,077

Depreciation & amortization
Impairment losses

5,660
2

5,766
56

Finance income
Finance costs

(913)
691

(894)
759

Loss (gain) on sale & retirement of non-current assets
Decrease (increase) in inventories

151
(144)

51
50

Decrease (increase) in trade & other receivables
Increase (decrease) in trade & other payables

1,024
(711)

999
212

Others601(1,271)

9,778

7,804

Interests & dividends received
Interests paid

79
(499)

92
(668)

Income taxes refund
Income taxes paid

18
(461)

20
(1,007)

Cash flows from operating activities

8,916

6,240

(3)

(3)

(3,117)
3(3,127)
19

Payments of leasehold & guarantee deposits
Proceeds from refund of leasehold & guarantee deposits

(166)
357

(200)
222

Payments for acquisition of consolidated subsidiaries
Others－(396)(9,735)(311)(3,322)(13,135)

Subtotal

Cash flows from investing activities
Payments into time deposits
Purchase of property, plant & equipment
Proceeds from sale of property, plant & equipment

Cash flows from investing activities
Cash flows from financing activities
Net increase in short term borrowings

120

7,914

Repayment of long term borrowings
Repayment of bonds

(986)
(143)

(3,822)(85)(4,424)(937)(4,176)
(938)

(20)
(6)

(135)
(0)

Repayment of lease liabilities
Dividends paid
Dividends paid to non-controlling parties
Others(6,396)(1,242)

Effects of exchange rate changes on cash & cash
equivalents

Cash flows from financing activities

119

145

Net increase (decrease) in cash & cash equivalents(684)(7,992)

Cash & cash equivalents at beginning of period

50,06646,307

Cash & cash equivalents at end of period

49,38238,314- 10 -

(6) Notes to quarterly consolidated financial statements(Basis of preparation of quarterly consolidated financial statements)
The consolidated financial statements have been prepared in accordance with Article 5, Paragraph 2 of the Standards for
Preparation of Quarterly Financial Statements, etc. by Tokyo Stock Exchange. (However, some disclosures in International
Accounting Standard No. 34 "Interim Financial Reporting" have been omitted in accordance with Article 5, Paragraph 5 of theStandards for Preparation of Quarterly Financial Statements, etc.)(Notes for assumption of going concern)
Not applicable.
(Segment Information)(1) Overview of reportable segments
The Group's reportable segments are components of the Group for which separate financial information is available andwhich are subject to regular review by the Board of Directors in order to determine the allocation of management resourcesand evaluate their performance.
The Group is mainly engaged in the operation of directly managed restaurants and the development of franchise businesses.
Based on comprehensive consideration of similarities in business categories and commonalities in business operations, theGroup has five reportable segments: “COLOWIDE MD Co., Ltd.”, “ATOM CORPORATION”, “REINS international inc.”,“KAPPA-CREATE CO., LTD.”, and “OOTOYA Holdings Co., Ltd.”. The operating results of the reportable segment include
23 subsidiaries of REINS international inc., 2 subsidiaries of KAPPA-CREATE CO., LTD., and 8 subsidiaries of OOTOYA
Holdings Co., Ltd.
COLOWIDE MD Co., Ltd. is engaged in overall merchandising of product development, production, procurement,
manufacturing, and distribution of various food products, etc.
ATOM CORPORATION operates restaurants and izakaya (Japanese style pubs) such as "Steak MIYA", "Nigiri no
Tokubei", "Karubi Taisho", and "Neneya", as well as franchise headquarter business.
REINS international inc. operates directly managed restaurants and izakaya (Japanese style pubs) such as "Gyu-Kaku","On-Yasai", "Doma-Doma", "Kamadoka", and "FRESHNESS BURGER" in Japan and overseas, as well as engages in the
franchise headquarters business.
KAPPA-CREATE CO., LTD. operates directly managed restaurants such as Kappa Sushi and delicatessen business such as
sushi and prepared bread.
OOTOYA Holdings Co., Ltd. operates directly managed restaurants such as "OOTOYA Gohan-Dokoro" in Japan andoverseas, as well as franchise headquarters business.
(2) Calculation method of revenue, profit or loss, and other items by reportable segment
The accounting method for reporting segments is the same as that described in "Notes to Changes in Accounting Policies".
Profit of reportable segments is based on business profit.
Inter-segment revenues and transfers are based on prevailing market prices.

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(3) Information on revenue, profit or loss, and other items by reporting segment
Three months ended June 30, 2023 (From April 1, 2023 to June 30, 2023)(Millions of yen)
Reportable segment
COLOWIDE
MD

ATOM

REINS
international(Note 1)KAPPA
CREATE(Note 2)OOTOYA
Holdings(Note 3)

Total

Others(Note 4)

Total

Amountrecorded in
Adjustment consolidate(Note 5)financialstatements(Note 6)

Revenue
External
revenue
Inter-segment
revenue &transfers

371

8,950

22,54017,431

6,566

55,858

1,385

57,243－57,243

19,573

0

664

131

16

20,384556

20,940(20,940)－

Total

19,943

8,951

23,204

17,562

6,582

76,242

1,941

78,183(20,940)

57,243Business profit

257

94

2,160

222

238

2,970

447

3,417

(220)

3,197

Finance income

913

Finance costs

691

Profit before tax

3,418

Tax expenses

899

Profit2,520(Note 1) REINS international segment includes REINS international inc. and its consolidated subsidiaries.
(Note 2) KAPPA CREATE segment includes KAPPA-CREATE CO., LTD. and its consolidated subsidiaries.
(Note 3) OOTOYA Holdings segment includes OOTOYA Holdings Co., Ltd. and its consolidated subsidiaries.
(Note 4) Others indicate business segments not included in reportable segments as follows: Worldpicom Corporation develops andsells total self-ordering systems for restaurant business, and develops and operates wireless communication technology,
the production and sale of fresh confections, baked confections, and chocolates (Nama-choco ganache, etc.) by
SILSMARIA Co., Ltd., administrative work by Cocot Co., Ltd., operation of restaurants by W.P. JAPAN Co., Ltd.,
operation of restaurants and franchise business by Bay Food Factory Co., Ltd., operation of catering service business by
Dining Yell Co., Ltd., operation of franchise business by Future Link Co., Ltd., and labor-related operations by Colowide
Support Center Co., Ltd.
(Note 5) Adjustments are due to elimination of intersegment transactions. The business profit adjustment of (220) million yen
includes adjustments for unrealized profit and general and administrative expenses that do not belong to any reportablesegment.
(Note 6) Profit is adjusted with operating income in the quarterly consolidated statement of income.

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Three months ended June 30, 2024

(April 1, 2024 to June 30, 2024)(Millions of yen)
Reportable segment

COLOWIDE
MD

ATOM

REINS
international(Note 1)KAPPA
CREATE(Note 2)OOTOYA
Holdings(Note 3)

Total

Others(Note 4)

Total

Adjustment(Note 5)

Amountrecorded inconsolidate
financialstatements(Note 6)

Revenue
External
revenue
Inter-segment
revenue &transfers

577

8,638

21,361

17,672

7,389

55,636

7,754

63,390－63,39021,563

0

994

155

17

22,730457

23,187(23,187)－

Total

22,1408,638

22,355

17,827

7,406

78,366

8,211

86,576(23,187)

63,390Business profit

545

241

1,302

241

352

2,681

(190)

2,491

(550)

1,941

Finance income

894

Finance costs

759

Profit before tax

2,077

Tax expenses

557

Profit1,520(Note 1) REINS international segment includes REINS international inc. and its consolidated subsidiaries.
(Note 2) KAPPA CREATE segment includes KAPPA-CREATE CO., LTD. and its consolidated subsidiaries.
(Note 3) OOTOYA Holdings segment includes OOTOYA Holdings Co., Ltd. and its consolidated subsidiaries.
(Note 4) Others indicate business segments not included in reportable segments as follows: Planning, operation and maintenance ofIT systems, call center administration by Worldpicom Corporation, production and sale of fresh confections, baked
confections, and chocolates (Nama-choco ganache, etc.) by SILSMARIA Co., Ltd., production and sales of western-styleconfectioneries by Nihon Meika Souhonpo Co., Ltd. and its subsidiary, administrative work by Cocot Co., Ltd., operationof restaurants by Cheers Dining Co., Ltd., operation of restaurants by W.P. JAPAN Co., Ltd., operation of restaurants andfranchise business by Bay Food Factory Co., Ltd., operation of catering service business by Dining Yell Co., Ltd.,
operation of catering service business by Nifs Co., Ltd., operation of catering service business by Amis, Inc., operation of
franchise business by Future Link Co., Ltd., and labor-related operations by Colowide Support Center Co., Ltd.
(Note 5) Adjustments are due to elimination of intersegment transactions. The business profit adjustment of (550) million yen
includes adjustments for unrealized profit and general and administrative expenses that do not belong to any reportablesegment.
(Note 6) Profit is adjusted with operating income in the quarterly consolidated statements of income.

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(4) Information by Region
Revenue and non-current assets by region are as follows.
Three months ended June 30, 2023 (From April 1, 2023 to June 30, 2023)(1)External revenue(Millions of yen)Japan

North America
49,695

Asia

4,150

Total
3,397

57,243(2)Non-current assets (excluding financial instruments, deferred tax assets, and rights arising from insurance contracts)(Millions of yen)Japan

North America
138,935

Asia

20,162

Total
2,302

161,399

Three months ended June 30, 2024 (From April 1, 2024 to June 30, 2024)(1)External revenue(Millions of yen)Japan

North America
55,222

Asia

4,544

Total
3,624

63,390(2)Non-current assets (excluding financial instruments, deferred tax assets, and rights arising from insurance contracts)(Millions of yen)Japan

North America
160,005

Asia

21,173

Total
3,031

184,210(5) Information on major customers
This information is omitted because for the three months ended June 30, 2023 and the three months ended June 30, 2024, theGroup is engaged in businesses for general consumers, and there is no single external customer (group) that accounts for 10% ormore of the Group’s revenue.
(Notes on Changes in Accounting Policies)
The accounting policies of significance applied in these quarterly consolidated financial statements are the same as those applied in
the consolidated financial statements for the previous fiscal year, except for the following.
Effective from the first quarter of the current fiscal year, the Company has adopted the following standards.
IFRS

Outline of New and Revised
Clarified requirements for classification of liabilities as current or
non-current

IAS 1

Presentation of Financial Statements

IAS 7

Statement of cash flows

Revised to require disclosures to promote transparency in

IFRS 7

Financial Instruments: Disclosure

supplier-financing agreements

IFRS 16

Lease

Revised to require disclosure of information on long-term debt
with covenants

Clarify post-transaction accounting for sale-and-leaseback
transactions

The adoption of these standards did not have any impact on the quarterly consolidated financial statements.

- 14 -