August 8, 2024
Central Glass Co., Ltd.

Consolidated Financial Results for the Three Months Ended June 30, 2024
(April 1, 2024 to June 30, 2024)* All amounts are rounded down to the nearest million yen.

1. Consolidated Financial Results for the Three Months Ended June 30, 2024
(April 1, 2024 to June 30, 2024)(1) Operating results
Net sales

Operating profit

Millions of yen%

Millions of yen

1st quarter ended June 30, 2024

34,830(10.7)

1st quarter ended June 30, 2023

39,010

4.5

Ordinary profit%

Profit attributableto owners of parentMillions of yen%%

Millions of yen

2,940

3.3

4,190

9.2

3,012

6.4

2,845

(21.7)

3,837(32.3)

2,831(54.6)

Note: Comprehensive income: 1st quarter ended June 30, 2024 4,346 million yen [2.4%]
1st quarter ended June 30, 2023 4,244 million yen [(33.3%)]
Note: Percentage figures for net sales, operating profit, ordinary profit and profit attributable to owners of parent represent year-on-year comparisons.

Earnings per share
BasicDiluted

1st quarter ended June 30, 2024

Yen
121.57Yen—

1st quarter ended June 30, 2023

114.25—(2) Financial position
Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen%

As of June 30, 2024

213,047

121,655

54.6

As of March 31, 2024

214,404

120,050

53.6

Reference: Equity As of June 30, 2024 116,426 million yen

As of March 31, 2024 114,916 million yen

2. Dividends
Q1
Yen

Q2
YenDividends per share
Q3
Yen

Year-end
Yen

TotalYen

Fiscal year ended March 31, 2024

—

57.50

—

101.50159.00Fiscal year ending March 31, 2025

—
85.00

—

85.00

170.00Fiscal year ending March 31, 2025 (forecast)
Note: Revision to recently announced dividend forecasts: None

3. Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2025
(April 1, 2024 to March 31, 2025)
Net sales

Operating profit

Millions of yen%First half

72,000

Full year

156,000

Ordinary profit
Millions of yen%

Profit attributableto owners of parent
Millions of yen%

Earnings
per share

Millions of yen%

Yen

(9.0)

4,000(33.5)

4,500(28.6)

3,500(38.3)

141.24(2.7)

11,000(24.3)

12,500(23.2)

10,000(19.9)

403.55

Notes:
1. Percentage figures represent changes from the corresponding period in the previous year.
2. Revision to recently announced financial forecast: None

*This financial release is not subject to audit procedures.
*Cautionary note regarding forward-looking statements:
The forecast above is based on data available as of the date of release of this document as well as assumptions based on uncertain factors, whichmight have a material effect on the Company’s performance in the future.

1

Consolidated Balance Sheets(Millions of yen)
As of March 31, 2024
AssetsCurrent assets
Cash and depositsNotes and accounts receivable - trade, and contract assets

Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
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
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

2

As of June 30, 2024

21,00042,65528,7682,553
17,754
3,179(116)
115,795

23,50739,06829,0552,551
17,354
2,902(171)
114,269

18,335
19,131
20,483
2,033
4,222
64,20618,323
18,582
20,486
1,798
4,264
63,455

835
835

820
820

22,345
11,335(113)
33,56798,609214,404

23,30911,319(127)
34,502
98,777
213,047

(Millions of yen)
As of March 31, 2024
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Income taxes payable
Contract liabilities
Provision for bonuses
Provision for business restructuring
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Provision for special repairs
Provision for share awards for directors (and other officers)

Provision for share awards for employees
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

3

As of June 30, 2024

15,903
11,285
1,973
967
1,246
105
13,52245,004

14,706
11,302
1,263
868
416
105
14,68543,34723,00018,720
2,058
32
192
5,145
200
49,34994,35323,00016,816
2,163
45
237
5,202
578
48,04491,391

18,1688,109
80,443(3,829)102,891

18,1688,109
80,892(3,829)103,341

5,680
21
5,543
778
12,024
5,134
120,050
214,404

6,028
49
6,258
747
13,085
5,229
121,655
213,047

Consolidated Statements of Income(Millions of yen)Three months ended
June 30, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method

Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Cost of inactive non-current assets
Other
Total non-operating expenses
Ordinary profit
Profit before income taxes
Income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

4

Three months ended
June 30, 2024

39,01029,428
9,582
6,736
2,845

34,83024,751
10,079
7,138
2,940

29
259
257
431
506
1,484

32
271
108
848
360
1,621

91
23
378
493
3,837
3,837
789
3,048
217
2,831

79
101
190
371
4,190
4,190
1,053
3,136
124
3,012

Consolidated Statements of Comprehensive Income(Millions of yen)Three months ended
June 30, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
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 of parent
Comprehensive income attributable to non-controlling interests

5

Three months ended
June 30, 2024

3,048

3,136

520
(127)
660
(21)

348
28505
(31)

164

358

1,1964,244

1,210
4,346

4,007
237

4,073
273

Notes to Consolidated Financial Statements
Summary of research and development activities during the 1st quarter
The Group’s research and development (R&D) expenses during the first quarter under review amounted to 1,727 million yen.
There have been no significant changes in the status of the Group's research and development activities during the first quarter underreview.
(Millions of yen)Three months ended
June 30, 2023

Three months ended
June 30, 2024

1,477

1,727

R&D expenses

ChangeAmount%249

16.9

Notes to changes in accounting policies(Application of “Accounting Standard for Current Income Taxes” and other regulations)
The “Accounting Standard for Current Income Taxes” (ASBJ Statement No.27, October 28, 2022; hereinafter the “RevisedAccounting Standard 2022”) and relevant regulations have been applied from the beginning of the first quarter of the fiscal year
ending March 31, 2025.
Revisions to categories for recording income taxes (taxation on other comprehensive income) are subject to the transitional treatmentin the proviso of paragraph 20-3 of the Revised Accounting Standard 2022 and the transitional treatment in the proviso of paragraph65-2 (2) of the “Guidance on Accounting Standard for Tax Effect Accounting” (ASBJ Guidance No.28, October 28, 2022). Thesechanges to our accounting policies do not affect our quarterly consolidated financial statements.

Adoption of specific accounting policies for quarterly consolidated financial statement
Income tax expenses of Central Glass Co., Ltd. and some consolidated subsidiaries are calculated by multiplying quarterly income
before income taxes by the effective tax rate that is reasonably estimated by applying tax effect accounting to the projected annualincome before income taxes.

Segment Information[1st quarter ended June 30, 2023](Millions of yen)

Chemicals

Glass

Total

Adjustments*

25,104292
25,397

13,9050
13,90539,010292
39,303

－
(292)
(292)

39,010－39,010

2,518

326

2,845

－

2,845

Chemicals

Glass

Total

Adjustments*

20,972344
21,316

13,85813
13,871

34,830357
35,188

－
(357)
(357)

34,830－34,830

2,243

697

2,940

－

2,940

Net sales:
External customers
Intersegment
Total
Segment profit(Operating profit)

Consolidated[1st quarter ended June 30, 2024](Millions of yen)

Net sales:
External customers
Intersegment
TotalSegment profit(Operating profit)*Adjustments are intersegment eliminations.

6Consolidated

Notes to significant changes in the amount of shareholders’ equity
Not applicable.

Notes to going concern assumption
Not applicable.

Notes to quarterly consolidated statement of cash flows
Quarterly consolidated statements of cash flows have not been prepared for the first quarter of the current fiscal year. Depreciation(including amortization related to intangible assets) for the first quarter of the fiscal year under review are as follows.
(Millions of yen)Three months ended
Three months ended
June 30, 2023
June 30, 2024
Depreciation

2,241

72,199