Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

May 14, 2024

Summary of Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
(Under Japanese GAAP)
Company name:
SEINO HOLDINGS CO., LTD.
Listing:
Tokyo Stock Exchange / Nagoya Stock Exchange
Securities code:
9076
URL:
https://www.seino.co.jp/seino/shd/
Representative:
Yoshitaka Taguchi, President and Chief Executive OfficerInquiries:
Nobuyuki Nozu, Chief Financial OfficerTelephone:+81-584-82-5023
Scheduled date of annual general meeting of shareholders:June 26, 2024
Scheduled date to commence dividend payments:
June 27, 2024
Scheduled date to file annual securities report:
June 27, 2024
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (for institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2024 (from April 1, 2023 to March 31,2024)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Operating revenue

Operating profit

Profit attributable toowners of parent

Ordinary profit

Fiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%March 31, 2024

642,811

1.8

23,403-17.9

24,496-25.1

14,561-23.4

March 31, 2023

631,507

3.9

28,501

3.5

32,6888.0

19,013

10.2

Note: Comprehensive income

For the fiscal year ended March 31, 2024:
For the fiscal year ended March 31, 2023:

Basic earnings
per share
Fiscal year ended

Diluted earnings
per share¥29,991 million¥20,224 million

Return on equity(48.3%)( 6.9%)

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales%%

YenYenMarch 31, 2024

83.72

78.16

3.3

3.5

3.6

March 31, 2023

104.87

98.40

4.3

4.7

4.5

Reference:%

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2024:¥-229 million
For the fiscal year ended March 31, 2023:¥2,446 million(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2024

689,525

435,577

62.4

2,560.24

March 31, 2023

703,893449,72763.2

2,449.98

Reference:

EquityAs of March 31, 2024:
As of March 31, 2023:¥430,380 million¥444,844 million

1%

Yen

(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Fiscal year ended

Millions of yen

Millions of yen

Millions of yenMillions of yen

March 31, 2024

48,441-25,509-48,646

75,378March 31, 2023

39,274-29,589-8,172

101,065

2. Cash dividends
Annual dividends per shareFirstSecond
Third
quarter-end quarter-end quarter-end
Yen

Yen

Fiscalyear-end

Yen

Yen

Total

Yen Millions of yen

Fiscal year ended
March 31, 2023

-

11.00

-

45.00

56.00

Fiscal year ended
March 31, 2024

-

43.00

-

57.00

100.00Fiscal year ending
March 31, 2025
(Forecast)

-

43.00

-

57.00

100.003.

Ratio ofPayout ratio dividends to(Consolidated) net assets(Consolidated)

Total cash
dividends(Total)%%

10,49153.4

2.3

17,537

119.4

4.0

86.8

Earnings Forecast of Consolidated Financial Results for Fiscal Year Ending March 31, 2025 (FromApril 1, 2024 to March 31, 2025)
Operation revenue
Millions of yen

Operating profit% Millions of yen

Profit attributableto owners of parent

Ordinary profit% Millions of yen% Millions of yen

Net profit
per share%Yen

Six months ending
September 30, 2024

317,000

0.5

12,0006.0

12,900

5.6

7,500

0.8

44.59

Full year

658,700

2.5

30,90032.0

32,40032.319,400

33.2

115.272

Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2024

187,679,783 shares

As of March 31, 2023

207,679,783 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2024

19,578,573 shares

As of March 31, 2023

26,109,781 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2024

173,923,917 sharesFiscal year ended March 31, 2023

181,291,165 shares* Financial results reports are exempt from audit conducted by certified public accountants or an auditcorporation.
* Proper use of earnings forecasts, and other special matters
The statements regarding forecast of financial results in this report are based on the information that isavailable to the Company, as well as certain assumptions that are deemed to be reasonable by management, andthey are not meant to be a commitment by the Company. Therefore, there might be cases in which actual results
differ materially from forecast values due to various factors.

3

4. Consolidated Financial Statement(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Operating accounts receivable and accounts
receivable-trade
Contract assets
Securities
Inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, netTools, furniture and fixtures, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

As of March 31, 2024

106,752
5,821

80,281
5,740

113,420

108,704

1,289
3,000
16,3889,205
ሺ445)
255,432

1,131
3,188
20,614
11,055
ሺ348)
230,369

120,269
19,1193,369
187,959
2,672
9,836
343,226

116,970
19,074
4,974
189,2545,637
9,742
345,654

11,602
5,904
17,507

9,467
5,861
15,32865,291
243－15,6497,016
ሺ474)
87,727448,461
703,893

81,531
256
215
9,002
7,655ሺ489)
98,172
459,155
689,525

(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes payable - trade
Operating accounts payable and accounts payabletrade
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - otherAccrued expenses
Income taxes payable
Accrued consumption taxes
Contract liabilities
Other
Total current liabilities
Non-current liabilities
Convertible-bond-type bonds with shareacquisition rights
Long-term borrowings
Deferred tax liabilities
Provision for retirement benefits for directors
Provision for share awards
Provision for share awards for directors
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assetsTotal liabilities and net assets

5

As of March 31, 2024

1,922

2,261

47,95256,701

4,760
1,174
15,970
16,108
6,691
6,508
3,873
8,005
112,966

3,748
1,565
16,662
16,445
4,969
5,848
3,647
7,987
119,838

25,15025,099

9,388
2,960
1,832
5,054
179
83,1383,838
9,657
141,199
254,166

6,927
2,651
1,560
4,806
219
77,392
3,984
11,467
134,109
253,947

42,48180,874346,416
ሺ36,422)433,350

42,481
77,175321,348
ሺ37,586)
403,420

13,76323,850ሺ96)676
ሺ2,849)11,4942
4,880
449,727
703,893

ሺ100)
1,540
1,670
26,9602
5,194
435,577
689,525

(2) Consolidated Statements of Income(Millions of yen)
Fiscal year ended
March 31, 2023
Operating revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Personnel expenses
Retirement benefit expenses
Provision for retirement benefits for directors
Provision for share awards for directors
Depreciation
Provision of allowance for doubtful accounts
Advertising expenses
Amortization of goodwill
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodLoss on investments in investment partnerships
Commission for purchase of treasury shares
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Compensation income
Compensation for expropriation
Other
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Impairment losses
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

6

Fiscal year ended
March 31, 2024

631,507554,998
76,509642,811569,21373,597

27,738
865
268
ሺ7)
2,513
123
1,677
2,192
13,761
48,00728,501

28,726
963
217
39
2,732
ሺ35)
1,448
2,134
15,18750,194
23,403

24953

19954

2,446

－

1,592
5,016

1,297
2,271424

412－

229

348－
56
829
32,688

303
125
108
1,178
24,496

200
146－
583
0
931

641
548
1,640－
29
2,859

1,287
787
193
2,268
31,351
12,627
ሺ736)
11,891
19,460447
19,013

1,051
492
194
1,738
25,617
10,942
206
11,14914,467
ሺ94)
14,561

(3) Consolidated Statements of Comprehensive Income(Millions of yen)
Fiscal year ended
March 31, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

7

Fiscal year ended
March 31, 2024

19,46014,467ሺ859)
－
123
743

10,062
ሺ4)
104
4,358

756

1,001

764
20,224

15,52329,991

19,73430,028490

ሺ36)

(4) Consolidated Statement of Changes in Equity
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

42,481Retained earnings

80,940Total shareholders'equityTreasury shares

332,860(37,138)

419,144

Changes during period
Dividends of surplus(5,432)(5,432)

Profit attributable to owners ofparent19,01319,013

Reversal of revaluation reserve
for land

(25)

(25)

Purchase of treasury shares
Disposal of treasury shares

(58)

(80)

(80)

797

738

Cancellation of treasury shares
Change in ownership interestof parent due to transactions
with non-controlling interests

(7)

(7)

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period－(65)

13,555716

14,20642,48180,874346,416(36,422)433,350

Accumulated other comprehensive income
Valuationdifference on Revaluation
availablereserve forfor-salelandsecurities
Balance at beginning of period

14,620(122)

Foreigncurrencytranslation
adjustment

Remeasurements ofdefined
benefit plans

Total
accumulated
othercomprehensi
ve incomeShareacquisitionrights

Noncontrollinginterests

Total net
assets(207)(3,542)

10,747－

3,628

433,520

Changes during period
Dividends of surplus(5,432)

Profit attributable to owners ofparent

19,013

Reversal of revaluation reserve
for land(25)

Purchase of treasury shares(80)

Disposal of treasury shares

738

Cancellation of treasury shares
Change in ownership interestof parent due to transactions
with non-controlling interests(7)

Net changes in items otherthan shareholders' equity

(856)

25

884

693

746

2

1,251

2,001

Total changes during period

(856)

25

884

693

746

2

1,251

16,207

13,763(96)

676(2,849)11,4942

4,880

449,727Balance at end of period

8Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

42,481Retained earnings

80,874346,416

Total shareholders'equityTreasury shares(36,422)433,350

Changes during period
Dividends of surplus(16,083)(16,083)

Profit attributable to owners ofparent

14,561

14,561

Reversal of revaluation reserve
for landPurchase of treasury shares
Disposal of treasury shares(29,999)(29,999)

877

1,065

27,958－188

Cancellation of treasury shares(4,412)

Change in ownership interestof parent due to transactions
with non-controlling interests

525(23,545)525

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period－(3,698)(25,067)(1,163)(29,930)

42,481

77,175321,348(37,586)

403,420

Accumulated other comprehensive income
Valuationdifference on Revaluation
availablereserve forfor-salelandsecurities
Balance at beginning of period

13,763(96)

Foreigncurrencytranslation
adjustment

Remeasurements ofdefined
benefit plans

Total
accumulatedothercomprehensi
ve incomeShareacquisitionrights

Noncontrollinginterests

Total netassets

676(2,849)11,4942

4,880

449,727

Changes during period
Dividends of surplus(16,083)

Profit attributable to owners ofparent

14,561

Reversal of revaluation reserve
for landPurchase of treasury shares(29,999)

Disposal of treasury shares

1,065

Cancellation of treasury shares－

Change in ownership interestof parent due to transactions
with non-controlling interests

525

Net changes in items otherthan shareholders' equity

10,087

(4)

863

4,519

15,466

Total changes during period

10,087

(4)

863

4,519

15,466

Balance at end of period

23,850

(100)

1,540

1,670

26,9609314

15,780－314(14,149)

2

5,194

435,577

(5) Consolidated Statements of Cash Flows(Millions of yen)
Fiscal year ended
March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for retirement benefits
for directors
Increase (decrease) in provision for share awards
Increase (decrease) in provision for share awards for
directors
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on investments in investment partnerships
Loss (gain) on sale and retirement of property, plantand equipment and intangible assets
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of securities
Proceeds from redemption of securities
Purchase of property, plant and equipment andintangible assets
Proceeds from sale of property, plant and equipment
and intangible assets
Purchase of investment securities
Proceeds from sale and redemption of investment
securities
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Proceeds from purchase of shares of subsidiaries
resulting in change in scope of consolidation
Decrease (increase) in other investments
Loan advances
Proceeds from collection of loans receivable
Other, net
Net cash provided by (used in) investing activities

10

Fiscal year ended
March 31, 2024

31,351
21,554
787
2,192
105

25,617
21,690
492
2,134
(74)

149

(272)

(187)

(248)

(18)

39

1,808
－
(977)
424

615
(98)
(974)
412

(2,446)

229

348

303

1,087

409

(146)
1,447
(5,029)
(134)
(367)
(181)
51,7681,414(446)(13,462)
39,274(548)
4,938(3,887)
9,032
(484)
1,281
60,6101,455(429)(13,194)
48,441(9,301)
9,573(3,000)3,000(8,591)
9,320－－(24,930)(23,400)

386

1,003

(4,022)(3,011)

376

763

(685)

－

476

－

(730)
(35)
27(723)(29,589)

(563)
(47)
30
(1,012)(25,509)(Millions of yen)
Fiscal year ended
March 31, 2023
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from share issuance to non-controllingshareholders
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
Proceeds from sale of shares of subsidiaries not
resulting in change in scope of consolidation
Purchase of treasury shares
Proceeds from disposal of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalentsNet increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

11

Fiscal year ended
March 31, 2024

(482)
630
(2,031)(1,011)－(2,070)

－

1,000

(15)

－－

157

(80)
607
(5,252)(143)(1,405)(8,172)(29,999)617(15,571)(282)(1,486)(48,646)

27

27

1,540
99,524
101,065(25,686)
101,065
75,378