Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2023
(Based on Japanese GAAP)
February 5, 2024
Company name:SE Corporation
Stock exchange listing: Tokyo
Stock code:
Representative:

3423
President

URL

https://www.se-corp.com/
Ichiro Miyahara

Inquiries:
Managing Executive Officer
Scheduled date to file Quarterly Securities Report:

Hisahiro Nojima
February 9, 2024

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–Yes

Holding of quarterly financial results meeting:

NoTEL

03-3340-5500(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)(1) Consolidated operating results (cumulative)
Net sales
Nine months ended December 31, 2023
Nine months ended December 31, 2022

Millions of yen
19,29817,723

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
8.9
997
42.5
1,016
38.8
628
52.2
0.3
700 (57.9)732 (56.5)
413 (61.2)

Earnings per share

Diluted earnings per share

Yen
20.82
13.69

Nine months ended December 31, 2023
Nine months ended December 31, 2022

Yen––(2) Consolidated financial position
Total assets
As of December 31, 2023
As of March 31, 2023

Net assets

Millions of yen25,228
25,493Equity ratio

Millions of yen
10,677
10,428

Net assets per share%
42.2
40.7

Yen
352.10343.81

2. Cash dividends
Annual dividends per share

Year ended March 31, 2023
Year ending March 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00
0.00

Yen––

Yen
13.00

Yen
13.00

13.00

13.00

Year ending March 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
26,403
3.7
1,085 (18.8)
1,080 (21.5)
687 (21.0)
22.76

1

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:Yes(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

NoNo

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

31,256,600 shares As of March 31, 2023

31,256,600 sharesNumber of treasury shares at the end of the period
As of December 31, 2023

1,048,528 shares As of March 31, 2023

1,048,528 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2023

30,208,072 shares Nine months ended December 31, 2022

230,174,739 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

4,630,583
7,348,420

3,958,868
6,289,232

Electronically recorded monetary claims - operating
Merchandise and finished goods

1,649,844
758,452

2,387,285
783,227

Work in process
Raw materials and supplies

678,279
1,674,450

733,063
1,760,684

518,470(27,671)

541,724(26,628)

17,230,829

16,427,458

Buildings and structures, net
Machinery, equipment and vehicles, net

2,483,134
788,817

2,685,665
987,594

Tools, furniture and fixtures, net
Land88,3903,054,542

97,6893,054,542

341,761
88,006276,620
249,158

6,844,652

7,351,270

72,89844,577

Other

109,023

110,186

Total intangible assets

181,922

154,764

215,2121,049,560

239,269
1,082,647

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Goodwill

Investments and other assets
Investment securities
Other
Allowance for doubtful accounts(28,254)(27,187)

Total investments and other assets

1,236,518

1,294,729

Total non-current assets
Total assets

3

8,263,093

8,800,764

25,493,923

25,228,222

(Thousands of yen)
As of March 31, 2023

As of December 31, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade

3,768,761

3,877,860

Electronically recorded obligations - operating
Short-term borrowings

2,550,907
600,5222,542,944
700,522

Current portion of long-term borrowings
Income taxes payable

1,476,214
169,506

1,309,583
166,210

176,722–102,396
57,828Provision for bonuses
Asset retirement obligations
Other

1,297,164

1,446,168

Total current liabilities

10,039,798

10,203,514

3,468,330

2,905,001

572,080

591,560

434,565438,678

Asset retirement obligations
Other

171,003379,609105,388306,690

Total non-current liabilities

5,025,588

4,347,318

15,065,386

14,550,833

Shareholders' equity
Share capital

1,228,057

1,228,057

Capital surplus
Retained earnings

1,026,676
8,258,713

1,026,676
8,494,931

Treasury shares(192,656)(192,656)

10,320,791

10,557,009

63,32055

80,523(360)

Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (and otherofficers)
Retirement benefit liability

Total liabilities
Net assets

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans

1,779(984)

Total accumulated other comprehensive income

65,154

79,178Non-controlling interests
Total net assets
Total liabilities and net assets

442,59041,201

10,428,536

10,677,389

25,493,923

25,228,222Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)
Nine months ended

Nine months ended

December 31, 2022

December 31, 2023

Net sales
Cost of sales

17,723,437
13,108,788

19,298,816
14,101,517

Gross profit

4,614,648

5,197,298

Selling, general and administrative expenses

3,914,641

4,200,038

700,007997,260

Interest income
Dividend income

118
8,075

63
8,856

Commission income
Rental income from buildings

2,384
6,372

536
6,424

Foreign exchange gains
Reversal of allowance for doubtful accounts

2,231
836

–
2,310

Gain on sale of scraps
Other36,836
16,90528,41522,488

Total non-operating income

73,76069,094

19,91024,294

Sales discounts
Foreign exchange losses

16,220–10,032
10,602

Donations
Other

3,070
2,255

3,121
2,072

Total non-operating expenses

41,45650,123732,3101,016,231

Gain on sale of non-current assets

8,762

5,854

Total extraordinary income

8,762

5,854

Loss on retirement of non-current assets
Retirement benefits for directors (and other officers)

2,400
1,500521–

Total extraordinary losses

3,900

521

Profit before income taxes

737,172

1,021,565

Income taxes

321,709394,031

Profit415,462

627,533

Operating profit
Non-operating income

Non-operating expenses
Interest expenses

Ordinary profit
Extraordinary income

Extraordinary losses

Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

5

2,357

(1,388)413,105

628,922

Consolidated statements of comprehensive income (cumulative)(Thousands of yen)

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2022

December 31, 2023

415,462

627,533

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

1,524(1,288)17,203(415)

Remeasurements of defined benefit plans, net of tax(4,417)(2,764)(4,181)

14,024Comprehensive income

Total other comprehensive income

411,281641,558

Comprehensive income attributable toComprehensive income attributable to owners of parent

408,924

642,946

2,357(1,388)Comprehensive income attributable to non-controllinginterests

6