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 March 31, 2024
(Based on Japanese GAAP)
Company name:

Stock exchange listing: Tokyo
Stock code:
4060
Representative:
Inquiries:

May 10, 2024

rakumo Inc.
URL

https://corporate.rakumo.com/

President CEO and COO
Director CFO

Daisuke Mitarai
Kenta Ishisone

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

May 10, 2024–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
NoTEL

050(1746)9891(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended March 31, 2024 (from January 1, 2024 to March 31, 2024)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable
Net sales
Adjusted EBITA
Operating profit
Ordinary profit
to owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Three months ended March 31, 2024
347
18.1
102
40.6
89
26.1
86
24.3
56
17.4
Three months ended March 31, 2023
294
16.6
73
47.2
71
43.2
69
46.7
48
41.7
Earnings per share

Diluted earnings per share
Yen
9.77
8.36

Three months ended March 31, 2024
Three months ended March 31, 2023

Yen
8.47
8.18

(2) Consolidated financial position
Total assets
As of March 31, 2024
As of December 31, 2023

Net assets

Millions of yen
2,693
2,670

Equity ratio

Millions of yen
1,428
1,365%
52.8
50.9

2. Cash dividends
Annual dividends per share

Year ended December 31, 2023
Year ending December 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
0.00

Yen
0.00

0.00

–

0.00

0.00

Year ending December 31, 2024 (Forecast)

1Total3. Notes(1) Changes in significant subsidiaries during the three months ended March 31, 2024
(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(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:No
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 March 31, 2024

5,778,100 shares As of December 31, 2023

5,773,200 shares

111 shares As of December 31, 2023

111 shares

Number of treasury shares at the end of the period
As of March 31, 2024

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended March 31, 2024

5,775,741 shares Three months ended March 31, 2023

25,749,966 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of December 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Work in process
Supplies
Other

1,888,966
49,899329
202
46,4191,914,974
57,037412
203
45,617

Total current assets

1,985,819

2,018,246

22,31921,677290,049
201,163
71,722
10,331

280,919
197,140
75,32916,461

573,266

569,851

Non-current assets
Property, plant and equipment
Intangible assets
Goodwill
Customer-related intangible assets
Software
Software in progress
Total intangible assets
Investments and other assets

76,847

72,277

Total non-current assets

672,433

663,806

Deferred assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Current portion of long-term borrowings
Income taxes payable
Contract liabilities
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Convertible-bond-type bonds with share acquisition rights
Asset retirement obligations
Other
Total non-current liabilities

12,164

11,1922,670,417

2,693,245

43,902
10,00065,361
524,138
4,143
85,74344,072
10,00020,487526,117
3,850
83,131

733,289

687,658

500,000
11,20560,731

500,000
11,252
66,179571,937

577,432

Total liabilities

1,305,227

1,265,090

Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares

392,469
353,319591,243(169)

392,920
353,770647,671(169)

1,336,863

1,394,192

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment

54
21,352(65)
27,109Total accumulated other comprehensive income

21,407

27,043

6,919

6,919

1,365,189

1,428,154

2,670,417

2,693,245Total shareholders' equity

Share acquisition rights
Total net assets
Total liabilities and net assets

3Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended
March 31, 2023

Three months ended
March 31, 2024

Net sales

294,328

347,620

Cost of sales

104,007

120,902

Gross profit

190,321226,718

Selling, general and administrative expenses

119,139

136,955

Operating profit

71,18189,763810

Other3124

Total non-operating income3935

Interest expenses
Foreign exchange losses

75793

28
1,250

Loss on investments in investment partnerships
Other647
0701
1,172

Non-operating income
Interest income

Non-operating expenses

1,516

3,153

Ordinary profit

Total non-operating expenses

69,704

86,644

Profit before income taxes

69,704

86,644

Income taxes - current

14,957

17,659

Income taxes - deferred

6,686

12,558

Total income taxes

21,64430,217

Profit48,06056,427

Profit attributable to non-controlling interests
Profit attributable to owners of parent

4––48,06056,427

Consolidated statements of comprehensive income (cumulative)(Thousands of yen)Three months ended
March 31, 2023
ProfitThree months ended
March 31, 2024

48,06056,427

(126)

(120)

Foreign currency translation adjustment

2,226

5,756

Total other comprehensive income

2,099

5,636

Comprehensive income

50,16062,063Comprehensive income attributable toComprehensive income attributable to owners of parent

50,16062,063––

Other comprehensive income
Valuation difference on available-for-sale securities

Comprehensive income attributable to non-controllinginterests

5