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)
August 7, 2024
Company name:
MAEZAWA KYUSO INDUSTRIES CO .,LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

6485
URL https://www.qso.co.jp/
President and Representative Director

Inquiries:

Director,Chief of Administration
Headquarters

Yuichi Taniai
Yoichiro Taniguchi

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:–No

Holding of financial results meeting:

NoTEL

03-3716-1512(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 yen7,826
7,645Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
2.4758
39.2
792
36.4
527
47.4
3.9
544
5.3
581
5.5
357
(2.1)

Earnings per share

Diluted earnings per share

Yen
24.91
16.31

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
46,63145,965Equity ratio

Millions of yen39,380
39,039Net assets per share
%
84.5
84.9

Yen
1,866.05
1,840.77

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
18.00

Yen–

Yen
22.00

Yen
40.00

21.00

–

21.00

42.00

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
15,850
1.4
1,220
2.5
1,310
4.0
860
6.4
40.55
September 30, 2024
Full year
32,000
(0.0)
2,580
4.6
2,730
5.1
1,780
5.9
83.93

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
Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

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

21,500,000 shares As of March 31, 2024

21,500,000 shares

Number of treasury shares at the end of the period
As of June 30, 2024

396,406 shares As of March 31, 2024

291,806 shares

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

21,166,544 shares Three months ended June 30, 2023

221,927,224 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

10,845
5,384

10,8265,367

Electronically recorded monetary claims - operating
Merchandise and finished goods

6,918
5,872

6,330
6,243

Work in process
Raw materials and supplies

103
1,336

139
1,395

Other

244

340

30,70630,644

2,231

2,206

665
4,622

687
4,622

72
270

199
277

7,861

7,993

Intangible assets
Software454

436

Goodwill
Other

237
23227
23

Total intangible assets

714

687

Investments and other assets
Investment securities

5,304

5,834

4
1,260

4
1,360

14101

1297

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment

Long-term loans receivable
Insurance funds
Deferred tax assets
Other
Allowance for doubtful accounts

(3)

(3)

Total investments and other assets

6,681

7,305

15,25815,98645,965

46,631

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Accounts payable - trade

3,052

3,141

Electronically recorded obligations - operating
Income taxes payable794
474

760
362

Provision for bonuses
Provision for bonuses for directors (and other officers)

259
29

67
10

Buy-sell transaction liability
Other

49
1,053

61
1,504

Total current liabilities

5,712

5,907

Non-current liabilities
Deferred tax liabilities

611

745

534
4523
4

Retirement benefit liability
Asset retirement obligations
Other

62

69

1,213

1,343

6,925

7,251

Share capital
Capital surplus

3,358
3,909

3,358
3,912

Retained earnings
Treasury shares

29,600(312)

29,661(454)

Total shareholders' equity

36,55636,4782,229

2,595

281
(28)

332(26)

2,483

2,902

39,03939,38045,965

46,631

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4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

7,645
5,371

7,826
5,416

Gross profit

2,274

2,409

Selling, general and administrative expenses

1,729

1,650

544

758

Interest income
Dividend income

537

2
37

Other

18

16

Total non-operating income

60

56

Foreign exchange losses
Loss on cancellation of insurance policies

101321–

Other

00

Operating profit
Non-operating income

Non-operating expenses

Total non-operating expenses

2422581792

Extraordinary incomeGain on sale of non-current assets

0–

Total extraordinary income0–0000

Profit before income taxes

581

792

Income taxes

223

265

Profit357

527

Profit attributable to owners of parent

357

527

Ordinary profit

Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses

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

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2023

June 30, 2024
357

527

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

221
35366
50

Remeasurements of defined benefit plans, net of tax(29)1

Total other comprehensive income

227

418

Comprehensive income

584

946

Comprehensive income attributable toComprehensive income attributable to owners of parent

584

946

6