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.

[Delayed]Summary of Consolidated Financial Results
for the Year Ended December 31, 2023
(Based on Japanese GAAP)
February 13, 2024
Company name:AMITA HOLDINGS CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

2195
URL https://www.amita-hd.co.jp/
Chairman and Chief Visionary Officer
KUMANO Eisuke

Inquiries:

President and Chief Integrated Operations
Officer

SUETSUGU Takahide

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

March 22, 2024
March 22, 2024

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

March 25, 2024
Yes

Holding of financial results meeting:

Yes

TEL075-277-0378(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended December 31, 2023 (from January 1, 2023 to December 31, 2023)(1) Consolidated operating results
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Year ended December 31, 2023
4,536
(6.0)
472(22.6)
530(25.8)308(42.0)
Year ended December 31, 2022
4,824–
609
8.9
715
13.7
531
(16.1)

Earnings per share

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%%–
14.5
9.710.430.22
30.8
15.5
12.6

Diluted earnings pershare

Yen
17.57
30.29

Year ended December 31, 2023
Year ended December 31, 2022
(2) Consolidated financial position

Total assets
As of December 31, 2023
As of December 31, 2022

Net assets

Equity ratio

Millions of yen
6,175
4,824

Millions of yen
2,266
2,001

Cash flows fromoperating activities
Millions of yen
725
585

Cash flows frominvesting activities
Millions of yen
(441)
(69)

Net assets per share%
36.6
41.4

Yen
128.77113.69(3) Consolidated cash flows

Year ended December 31, 2023
Year ended December 31, 2022

Cash flows from
Cash and cash equivalents
financing activities
at end of period
Millions of yen
Millions of yen
754
2,829(142)1,779

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended December 31, 2022
Year ended December 31, 2023
Year ending December 31, 2024
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

TotalYenYen

YenYenYenMillions of yen%%–
–

0.00
0.00

–
–

3.00
4.00

3.00
4.00

5270

9.9
22.8

3.1
3.3

–

0.00

–

4.00

4.00

1

18.9

3. Forecast of consolidated financial results for the year ending December 31, 2024 (from January 1, 2024 to December 31, 2024)
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
Full year
4,809
6.0
540
14.6
599
12.8
371
20.4
21.16
4. Notes(1) Changes in significant subsidiaries during the year ended December 31, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):Yes(2) 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:

NoNo

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

17,556,360 shares As of December 31, 2022

17,551,360 shares

Number of treasury shares at the end of the period
As of December 31, 2023

3,890 shares As of December 31, 2022

3,890 shares

Average number of shares during the period
Year ended December 31, 2023

17,552,085 shares Year ended December 31, 2022

217,538,334 shares

Consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of December 31, 2022

As of December 31, 2023

AssetsCurrent assets
Cash and deposits

1,779,633

2,829,579

Notes and accounts receivable - trade
Merchandise and finished goods

744,972
32,989708,362
26,764Work in process
Raw materials and supplies

18,498
10,844

27,117
8,893

Other
Allowance for doubtful accounts

182,759(70)

237,687–

2,769,627

3,838,404

Buildings and structures, net
Machinery, equipment and vehicles, net

391,446
320,266

365,194
324,673Land
Construction in progress

752,187
17,325752,187
240,711

Other, net

65,71738,885

Total current assets
Non-current assets
Property, plant and equipment

1,546,942

1,721,652

Intangible assets

Total property, plant and equipment

36,96688,413

Investments and other assets
Investment securities

281,722

320,101

Deferred tax assets
Other

35,136
153,885

45,352
161,783

Total investments and other assets

470,743

527,237

2,054,652

2,337,303

4,824,280

6,175,708

Total non-current assets
Total assets3

(Thousands of yen)
As of December 31, 2022

As of December 31, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade
Current portion of long-term borrowings

293,290
170,000

260,842
266,756

Lease liabilities
Accounts payable - other

16,267
170,395

10,466112,341

Income taxes payable
Provision for bonuses

101,504
76,848151,146
85,675

Asset retirement obligations
Advances received–
151,151

4,310
278,393

Deposits received
Other

211,958
77,590314,659
151,353

Total current liabilities

1,269,005

1,635,945

Non-current liabilities
Long-term borrowings

1,082,562

1,807,055

Lease liabilities
Retirement benefit liability

21,450349,349

10,240358,739

Asset retirement obligations
Other

100,681180

97,342
180

Total non-current liabilities

1,554,224

2,273,557

2,823,230

3,909,503

Share capital
Capital surplus

480,680
250,443

483,560
253,323

Retained earnings
Treasury shares

1,225,139(482)

1,480,808(482)

Total shareholders' equity

1,955,781

2,217,210

39,21942,95939,21942,959Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets

46,0496,034

2,001,050

2,266,204

4,824,280

6,175,708

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Thousands of yen)
Fiscal year ended
December 31, 2022

Fiscal year ended
December 31, 2023

Net sales
Cost of sales

4,824,795
2,687,253

4,536,499
2,398,545

Gross profit

2,137,542

2,137,953

Selling, general and administrative expenses

1,527,814

1,665,793

609,728

472,160

112

121

108,901

64,510

5,825

1,579

Other13,666

16,239Total non-operating income

128,505

82,451

Interest expenses
Share acquisition rights issuance costs

16,5402,640

18,854
2,391

Other

3,515

2,520

Operating profit
Non-operating income
Interest income
Share of profit of entities accounted for using equity
methodForeign exchange gains

Non-operating expenses

Total non-operating expenses

22,69623,766

715,537

530,844

Gain on sale of non-current assets

2,821

250

Total extraordinary income

2,821

250

Loss on valuation of shares of subsidiaries andassociates

725–

Impairment losses
Loss on sale and retirement of non-current assets–5,49524,3993,124

Total extraordinary losses

6,220

27,524

Profit before income taxes

712,138

503,570

Income taxes - current

100,818

205,441

Ordinary profit
Extraordinary income

Extraordinary losses

Income taxes - deferred

80,078(10,216)

Total income taxes

180,896

195,225

Profit531,242

308,345

Profit attributable to owners of parent

531,242

308,3455

Consolidated statements of comprehensive income(Thousands of yen)
Fiscal year ended

Fiscal year ended

December 31, 2022

December 31, 2023

ProfitOther comprehensive income
Foreign currency translation adjustment
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

6531,242

308,345

2,548

2,040

29,847

1,699

32,395

3,740

563,637

312,085563,637

312,085

Consolidated statements of changes in equity
Fiscal year ended December 31, 2022
(Thousands of yen)
Shareholders' equity

Balance at beginning of period

Share capital

Capital surplus

474,920244,683

5,760

5,760

Total

Retainedearnings
728,972

Treasury sharesshareholders'equity(375)

1,448,200

Changes during period
Issuance of new shares exercise of share acquisitionrights11,520

Dividends of surplus(35,075)(35,075)

Profit attributable to ownersof parent

531,242531,242

Purchase of treasury shares

(106)

(106)

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

5,760

5,760

496,166(106)

507,581

480,680

250,443

1,225,139(482)

1,955,781

Accumulated other comprehensive
incomeTotal

Balance at beginning of period

Foreign currencytranslation

accumulated
otheradjustment

comprehensive
income

6,823

6,823

Share acquisitionrights–Total net assets

1,455,024

Changes during period
Issuance of new shares exercise of share acquisitionrights11,520

Dividends of surplus(35,075)

Profit attributable to ownersof parent

531,242

Purchase of treasury shares(106)

Net changes in items otherthan shareholders' equity

32,39532,395

6,049

38,445

Total changes during period

32,39532,395

6,049

546,026

Balance at end of period

39,21939,2196,049

2,001,050

7

Fiscal year ended December 31, 2023
(Thousands of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

480,680

250,443

2,880

2,880

Retained

Treasury sharesearnings

Total
shareholders'equity

1,225,139(482)

1,955,781

Changes during period
Issuance of new shares exercise of share acquisitionrights5,760

Dividends of surplus(52,642)(52,642)

Profit attributable to ownersof parent

308,345

308,345

(33)

(33)

Decrease by merger
Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

2,880

2,880

255,668–

261,429

483,560

253,3231,480,808(482)

2,217,210

Share acquisitionrightsTotal net assets

6,049

2,001,050

Accumulated other comprehensive
incomeForeign currency

Total
accumulatedtranslation
adjustment

othercomprehensive
incomeBalance at beginning of period

39,21939,219Changes during period
Issuance of new shares exercise of share acquisitionrights5,760

Dividends of surplus(52,642)

Profit attributable to ownersof parent

308,345

Decrease by merger(33)

Net changes in items otherthan shareholders' equity

3,740

3,740(15)3,724

Total changes during period

3,740

3,740

(15)

265,154

Balance at end of period

42,95942,9596,034

2,266,2048Consolidated statements of cash flows(Thousands of yen)
Fiscal year ended

Fiscal year ended

December 31, 2022

December 31, 2023

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Loss on valuation of shares of subsidiaries andassociates
Loss (gain) on sale and retirement of non-currentassets
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using
equity method
Share acquisition rights issuance costs
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in advances received
Increase (decrease) in deposits received
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from cancellation of insurance funds
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from issuance of shares resulting fromexercise of share acquisition rights
Proceeds from issuance of share acquisition rightsCost from issuance of share acquisition rights
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting frommerger
Cash and cash equivalents at end of period

9712,138
139,734–

503,570
145,013
24,399

725

–

4,049

2,874

(21,540)
18,363(112)
16,540(13,391)

8,827
9,390
(121)
18,854(8,890)(108,901)(64,510)2,640(41,857)
4,347(60,289)(13,137)
157(50,905)
588,559
48,373(17,230)(34,619)585,083

2,391
36,609(442)(32,448)
127,241
102,701(34,324)
841,138
55,536(20,918)(150,282)
725,473(80,507)(326,367)

58,383250(21,855)(25,000)
7,059(7,922)(69,841)(71,757)(27,835)–(15,322)(441,033)

52,562(150,000)

1,002,937(181,689)

11,490

5,745

3,440
–
(33,841)(25,817)(142,166)–(2,391)(53,522)(16,649)
754,430

16,002

10,805389,077
1,390,556

1,049,675
1,779,633–

270

1,779,633

2,829,579