April 25, 2024

Consolidated Financial Results
For the Fiscal Year Ended March 31, 2024
Company name: PACIFIC INDUSTRIAL CO., LTD.
Stock exchange listings: Tokyo and Nagoya Stock Exchanges
Stock code number: 7250
URL: https://www.pacific-ind.co.jp/
Representative: Tetsushi Ogawa, President
Contact person: Satoshi Watanabe, General Manager of Accounting Dept.
Telephone: +81-584-93-0117(Amounts less than one million yen are omitted)
1. Consolidated Financial Results for FY 2023(From April 1, 2023 to March 31, 2024)(1) Consolidated financial results(%: changes from the same period of the previous fiscal year)
Net sales

FY 2023
FY 2022

Operating income

Ordinary income

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

207,348
191,254

8.4
16.3

14,456
9,298

55.5
-13.6

18,836
13,20942.6-9.6

16,974
9,301

82.5
-5.1

(Note) Comprehensive income: FY2023：32,579 million yen (170.3%)
Net income
per share

FY 2023
FY 2022

Diluted net income
per share

FY2022 : 12,054 million yen ( -40.2% )Return on equity

Return on asset

Operating margin

YenYen%%%289.48
155.33288.90155.02

11.2
7.0

6.8
5.2

7.0
4.9

(Reference) Share of (profit) loss of entities accounted for using equity method:
FY2023 : 1,384 million yen FY2022 : 782 million yen(2) Consolidated financial position
Total assets

FY 2023
FY 2022(Reference) Equity:

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen%Yen

292,455
258,058

167,397
138,72156.9
53.4

2,840.12
2,309.07

FY2023: 166,310 million yen

FY2022: 137,717 million yen(3) Cash flow
Cash flows
from operating activities

FY 2023
FY 2022

Cash flows
from investing activities

Cash flows
from financing activities

Cash and cash
equivalent at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

35,381
24,129-19,577-16,428-4,660-3,50944,49031,593

Annual dividends per share
At end of
At end ofAt year-end
2nd quarter3rd quarter

Total annual
dividends

Payout ratio

2. Cash Dividends
At end of
1st quarter

FY2022
FY2023
FY2024(forecast)

Total(consolidate)

Dividendon equity(consolidated)

YenYenYenYen

Yen

Millions of yen

%

%

――

20.00
22.00

―
―

22.00
55.00

42.00
77.00

2,523
4,543

27.0
26.6

1.9
3.0

―

26.00

―

26.00

52.00

30.5

3. Forecasts of Consolidated Financial Results for FY2024 (From April 1, 2024 to March 31, 2025)(%: changes from the same period of the previous fiscal year)
Net salesFirst half
FY 2024

Operating income

Net income
for the year attributable toowners of the parent

Ordinary income

Net income
per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

98,000200,000-4.5
-3.5

4,500
11,000

-40.0

5,500
13,000

-46.8

4,500
10,000

-40.2
-41.1

76.85
170.77

-23.9

-31.0

* Notes(1) Changes in significant subsidiaries during the period: None
(Changes in specified subsidiaries resulting in changes in scope of consolidation)
Newly included:―(company name)
Newly excluded:―(company name)(2) Changes in accounting policies, accounting estimates and restatements① Changes in accounting policies with revision of accounting standards : None
② Changes other than ① : None
③ Changes in accounting estimates : Yes④ Restatement : None
(3) Number of shares issued and outstanding (common stock)① Number of shares outstandingat end of period (includingtreasury stock)② Number of shares of treasurystock at end of period③ Average number of shares
during the year ended March 31

FY202361,312,896 shares

FY2022

61,312,896 shares

FY20232,755,384 shares

FY2022

1,670,909 shares

FY202358,637,984 shares

FY2022

59,886,553 shares(Reference) Summary of non-consolidated business results
1. Non-Consolidated Financial Result for FY2023 (From April 1, 2023 to March 31, 2024)(1)Non-consolidated financial results(%: changes from the same period of the previous fiscal year)
Net sales

FY 2023
FY 2022

Operating income

Ordinary income

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

79,14482,784-4.4
1.5

6,247
4,917

27.0
-19.3

12,977
10,75020.7-4.3

14,4668,228

75.8-0.5

Net income
per share

FY 2023
FY 2022

Diluted net income
per share
Yen

Yen

244.83136.37244.34136.11(1)Non-consolidated financial position
Total assets

FY 2023
FY 2022(Reference) Equity:

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

207,972
191,397

107,292
93,14051.5
48.6

1,816.66
1,548.37

FY2023: 107,194 million yen

FY2022: 93,043 million yen

* Indication regarding status of performance of audit proceduresThis summary of financial results is not subject to the audit procedures in accordance with the Financial
Instruments and Exchange Act. As of the time of disclosure of this summary of financial results, the audit
procedures for consolidated financial statements under the Financial Instruments and Exchange Act havenot been completed.
* Explanation about appropriate use of the financial results forecasts, and other noteworthy matters
Statements related to the future, including the forecasts of financial results, described in this document
are based on information currently available to Pacific industrial and on certain assumptions deemed byPacific industrial to be rational.

Consolidated Balance Sheets(Million Yen)FY2022

FY2023

FY2022

FY2023(As of Mar.31, 2023)(As of Mar.31, 2024)(As of Mar.31, 2023)(As of Mar.31, 2024)（Assets）（Liabilities）
90,690102,147

52,63553,678Cash and time deposits

32,08845,120Notes receivable - trade

1,544

1,601

Trade notes and accounts payable

14,394

13,942

Electronically recorded obligations - operating

6,832

Accounts receivable

29,6836,530

27,965

Short-term borrowings

1,015

Merchandise and finished goods

10

9,522

7,522

Current portion of long-term borrowings

6,851

6,969

Work in process

7,414

7,689

Accounts payable

5,285

6,749

Raw materials and supplies

6,185

6,797

Accrued expenses

2,226

3,460Accounts receivable

3,228

4,970

Income taxes payable

2,040

7,044

Other current assets

1,196

644

Consumption taxes payable

107

123

Less: Allowance for doubtful accounts

(173)

(164)

Deposit received

334

403

1,605

1,844

Current Assets

Current Liabilities

Allowance for bonuses
Fixed Assets

167,367

190,308

Notes payable - facilities
Other current liabilities

Property, Plant and Equipment

111,924

128,980

Buildings and structures

32,65850,445

Machinery and vehicles

46,08150,328

Noncurrent Liabilities

120

22

11,822

6,577

66,701

71,380Tools, Furniture, and fixtures

2,297

2,475

Long-term borrowings

53,35054,958Land

10,651

11,414

Deferred tax liabilities

10,042

12,816

Lease Asset

1,311

1,526

Provision for directors retirement benefit

173

180

Construction in progress

18,924

12,789Net defined benefit liabilities

553

665

Other noncurrent liabilities

2,580

2,759

119,337

125,058

11,545

6,059

Goodwill

6,219

2,883

Other

5,325

3,176

Investments and Other Assets

43,89755,267（Net assets）

Investments in securities

36,63643,493

Shareholders' Equity

107,854

120,941

Long-term loans

2710

Capital stock

7,316

7,316

Deferred tax assets

364

171

Capital surplus

7,686

7,690

6,118

10,853Retained earnings

94,044

108,399752

741

Less:Treasury stock at cost

(1,193)(2,465)(1)(2)

Intangible Fixed Assets

Net defined benefit asset
Other fixed assets
Less: Allowance for doubtful accounts

Total Liabilities

29,86245,369Valuation difference on available securities

16,10019,694Foreign currency translation adjustments

13,15422,094Remeasurement of defined benefit plan608

3,580

Valuation and Translation AdjustmentTotal Assets

258,058

292,455

Subscription rights to shares

9797

Minority Interests
Total Net Assets

905

988

138,721

167,397

258,058

292,455

Total Liabilities and Net Assets

Consolidated Statements of Income(Million Yen)FY2022

FY2023For the Year Ended
Mar.31, 2023

For the Year Ended
Mar.31, 2024

Net sales

191,254

207,348

Cost of sales

168,424

177,558

Gross profit

22,82929,790

Selling, general and administrative expenses

13,531

15,334

Operating Income (loss)

9,298

14,456

Non-operating income

4,231

4,740

Interest income

103

483

Dividend income

767

896Equity in earnings of affiliated companies
Foreign exchange gain

782

1,384

1,130

1,348

Gain on sales of investment securities

649

Other non-operating income

797

626

Non-operating Expenses

320

360

Interest expense

285

329

Other non-operating expense35

31

13,20918,836

Ordinary income (loss)
Extraordinary income
Gain on sales of investment securities--

15,520-15,520298

7,903

Loss on sales and retirements of fixed assets

149

350

Impairment loss

148

7,553

Profit (loss) before income taxes and non controlling interests

12,911

26,452

Income taxes

3,498

9,436

Current term net profit (loss)

9,412

17,015Extraordinary Losses

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

110

40

9,301

16,974