Note: This document has been translated from a part of 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.

Consolidated Financial Results
for the Nine Months Ended December 31, 2023
(Under Japanese GAAP)

February 9, 2024

Company name: Hakudo Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
7637
URL:
https://www.hakudo.co.jp/
Representative:
Koji Tsunoda, President
Inquiries:
Makoto Sekihama, Executive General Manager, Corporate Administration Division
Telephone:+81-3-6212-2811
Scheduled date to file quarterly securities report:
February 9, 2024
Scheduled date to commence dividend payments:–
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:
Yes(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 toDecember 31, 2023)(1) Consolidated operating results (cumulative)
Net sales
Nine months ended(Percentages indicate year-on-year changes.)Operating profit

Millions of yen

Profit attributable toowners of parent

Ordinary profit%

Millions of yen%

Millions of yen%

Millions of yen%

December 31, 2023

42,930(9.4)

1,885(40.4)

2,201(34.7)

1,512(33.9)

December 31, 2022

47,379

17.1

3,166

1.1

3,369

4.8

2,289

4.6

Note: Comprehensive income

For the nine months ended December 31, 2023:
For the nine months ended December 31, 2022:

Basic earnings
per share
Nine months ended¥1,702 million¥2,319 million[(26.6)%][2.6%]

Diluted earnings
per share
Yen

Yen

December 31, 2023

133.33–

December 31, 2022

201.82–(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Millions of yen

Millions of yen

December 31, 2023

40,12021,956

54.7

March 31, 2023

43,14921,22949.1

Reference:

EquityAs of December 31, 2023:
As of March 31, 2023:¥21,928 million¥21,205 million%

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year ended
March 31, 2023

–58.00–Fiscal year ending
March 31, 2024–

35.00

–

Fiscal year-end

Fiscal year ending
March 31, 2024(Forecast)

TotalYenYen

51.00

109.00

45.00

80.00

Note: Revisions to the forecast of cash dividends most recently announced: Yes

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to(Percentages indicate year-on-year changes.)
March 31, 2024)
Net sales
Millions of yen
Full year

56,400Operating profit% Millions of yen
(8.4)

2,320

Profit attributable toowners of parent

Ordinary profit% Millions of yen(38.6)

2,620% Millions of yen(34.3)

Note: Revisions to the forecast of the financial results most recently announced: Yes

1,760

Basic earnings
per share%Yen(35.7)

155.18

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
Newly included: –Excluded:–(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
Yes
Note: For details, please refer to “Adoption of accounting treatment specific to the preparation of quarterly
consolidated financial statements” of “(3) Notes to the quarterly consolidated financial statements”(Japanese only) of the attached materials.
(3) 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
(4) Number of issued shares (common shares)(i)

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

11,343,300 shares

As of March 31, 2023

11,343,300 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2023

1,515 shares

As of March 31, 2023

1,515 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscalyear)
Nine months ended December 31, 2023

11,341,785 shares

Nine months ended December 31, 2022

11,341,785 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants
or an audit corporation.
* Proper use of financial results forecasts, and other special matters(Notice concerning forward-looking statements and others)
Please note that the forecast figures presented above are outlooks based on information currently available andinclude a considerable number of uncertain factors.
Actual results and others may differ from the forecast figures due to changes in business conditions and otherfactors.