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 Three Months Ended June 30, 2024
(Based on Japanese GAAP)
July 31, 2024
Company name:
CTS Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

Inquiries:

4345
URL https://www.cts-h.co.jp
Representative Director and President
Director, Operating Officer and General
Manager,

Taizo YokoshimaMakio Kitahara

Accounting & Business AdministrativeDepartment

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

Holding of financial results meeting:

NoTEL

0268-26-3700(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(1) Consolidated operating results (cumulative)
Net sales
Three months ended June 30, 2024
Three months ended June 30, 2023

Millions of yen
2,751
2,597Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
5.9636
12.4641
9.8
427
9.8
0.4
566
6.5
584
10.4
388
9.7

Earnings per share

Diluted earnings per share

Yen
10.11
9.17

Three months ended June 30, 2024
Three months ended June 30, 2023

Yen––(2) Consolidated financial position
Total assets
As of June 30, 2024
As of March 31, 2024

Net assets

Millions of yen
16,177
16,710Equity ratio

Millions of yen
11,996
12,230%74.2
73.2

2. Cash dividends
Annual dividends per share

Year ended March 31, 2024
Year ending March 31, 2025

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
10.00

Yen–

Yen
12.50

Yen
22.50

12.50

–

12.50

25.00

Year ending March 31, 2025 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
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
Six months ending
5,750
7.6
1,320
4.4
1,250
0.2
840
0.8
19.89
September 30, 2024
Full year
12,000
8.2
3,000
4.7
2,950
5.9
1,980
6.5
46.88

1

4. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
No
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024

42,400,000 shares As of March 31, 2024

43,400,000 shares

Number of treasury shares at the end of the period
As of June 30, 2024446,845 shares As of March 31, 2024

1,020,845 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

42,237,155 shares Three months ended June 30, 2023

242,379,155 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Inventories
OtherAllowance for doubtful accounts
Total current assets

6,952
1,749

6,5691,810

472
365

350
186

(3)

(2)

9,536

8,914

Non-current assets
Property, plant and equipment
Leased assets, net

1,776

1,623

Other, net

1,810

1,803

Total property, plant and equipment

3,586

3,426

147

140

Intangible assets
Investments and other assets
Investment securities

3,180

3,476

Other
Allowance for doubtful accounts

267
(8)

228
(8)

Total investments and other assets

3,439

3,696

Total non-current assets

7,174

7,263

16,71016,177

Current liabilities
Accounts payable - trade

641

393

Income taxes payable
Other492
1,792

200
2,052

Total current liabilities

2,926

2,646

1,038

923

515

611

1,553

1,535

4,479

4,181

Share capital
Retained earnings

3,000
9,107

3,000
8,297

Treasury shares

(722)

(352)

11,385

10,944845

1,051

Total assets
Liabilities

Non-current liabilities
Lease liabilities
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

3845

1,051

12,23011,996

16,71016,177

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

June 30, 2023

June 30, 2024

Net sales
Cost of sales

2,597
1,326

2,751
1,377

Gross profit

1,270

1,373

Selling, general and administrative expenses

704736

Operating profit

566

636

Dividend income
Other58
155
1

Total non-operating income

5956

1010

Share of loss of entities accounted for using equity method

3141

Total non-operating expenses

4151

Ordinary profit

584

641

Profit before income taxes

584

641

Income taxes - current
Income taxes - deferred

178
17195
19

Total income taxes

195

214

Profit388

427

Profit attributable to owners of parent

388

427

Non-operating income

Non-operating expenses
Interest expenses

4Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2023

June 30, 2024
388427

Valuation difference on available-for-sale securities

162

206

Total other comprehensive income

162

206

Comprehensive income

550

633

Comprehensive income attributable toComprehensive income attributable to owners of parent

550

633

––

Comprehensive income attributable to non-controllinginterests5