Summary of Business Results
Business Results in the Year Ended March 31, 2024

Summary of Business Results forThis Fiscal Year
During the consolidated fiscal year
under review, the Japanese economy
is considered to be on a moderate
recovery trend as economic activities
continue to normalize, although theoutlook of the Japanese economy isridden by uncertainties such as overseas economic slowdown, extensive
price hikes, and exchange rate volatility.
Under this business environment,in our ”9th Medium-Term Business
Plan" that started in April 2023, we,
the Amano Group, have set forth
the management concept of "The4th Stage Towards a 100-year Company-Initiatives for a Paradigm Shift
Leading to Sustainable Management"
in which we have promoted DX(digital transformation) in each business field and have executed strategic investments in software-based
assets, IoT, AI, etc., and further enhance our competitive advantage interms of profitability. Furthermore,
we have proactively worked to solve
social issues.
As a result, during the fiscal year
under review, Amano recorded

net sales of ¥152,864 million, up by
15.1% year-on-year. Operating profit
increased by 23.9% to ¥19,567 million, ordinary profit went up by
23.0% to ¥20,855 million, and net
income attributable to owners of
the parent company increased by
16.4% to ¥13,141 million, resulting inincreases in both sales and profit.
(Main factors behind the businessresults)( i )	A t non-consolidated Amano,Parking Systems sales continued
to significantly grow indicating that the recovery trend isclearly positive. Clean Systems
sales also continued to increase
due to stronger sales of cleaning robots. Information Systems
sales increased in both softwareand hardware. Environmental
Systems sales of standard dust
collection systems declined dueto the impact of lower orders
for machine tools, but large-scale
systems sales grew in response
to demand for rechargeable batteries for EVs, etc., resulting positive overall sales.
(ii)	In d o m e s t i c g ro u p c o m p a nies, the consigned parking lot
management service businessperformed well, exceeding preCOVID-19 results, and the cloudservice business for T&A also

continued to grow. The digitaltime stamp business continued toperform well, meeting the needsto respond to the requirements
under the revised Elec tronic
Books Preservation Act, etc.
(iii)	In overseas markets, sales inc re a s e d i n N o r t h A m e r i c a ,Europe, and Asia, partly due tothe effect of yen depreciation.
In Europe, sales of Information
Systems in France continued
to grow by capturing customer
needs. In North America, Parking Systems sales increased dueto the effect of new products,
achieving a monthly surplus during demand periods, etc. with an
improving earnings trend, while
Clean Systems sales decreased
due to a slowdown in the corewood floor sanding business. InAsia, Parking Systems sales grewin South Korea and Hong Kong,and Environmental Systems sales
grew in Thailand.
(iv)	As a result of evaluating the future excess earning power of a
portion of the investment securities held by Amano as of fiscal
year end, a loss on valuation ofinvestment securities was bookedin accordance with impairment
accounting.

The following is a breakdown of sales by business division.

Sales by business division
Category
Time Information System business:
Information Systems
Time Management Products
Parking SystemsSubtotal
Environment System business:
Environmental Systems
Clean Systems
Subtotal
Total(Millions of yen)

FY2022
FY2023(April 1, 2022–March 31, 2023) (April 1, 2023–March 31, 2024)
Amount Ratio (%) Amount Ratio (%)

ChangeAmount%31,3532,841
64,70898,903

23.6
2.1
48.7
74.4

35,757
2,572
78,510116,840

23.4
1.7
51.3
76.4

4,403
(268)
13,801
17,936

14.0
(9.5)
21.3
18.1

20,83813,06833,906
132,810

15.7
9.9
25.6
100.0

23,08912,93536,024
152,864

15.1
8.5
23.6
100.0

2,250(133)
2,117
20,05410.8(1.0)
6.2
15.1

3

Time Information System business
The sales in this business totaled¥116,840 million, up by ¥17,936 million (up 18.1%) year-on-year. The
following is a breakdown of sales bybusiness division.

Information Systems¥35,757 million (up 14.0% year-on-year)

Domestic sales for the current
term were as follows. For nonconsolidated Amano, software sales
increased by ¥809 million (8.2%)
due to a continuing recovery trend
in orders for small to medium-sizedbusinesses, hardware sales increasedby ¥451 million (16.8%), and sales
generated by maintenance contracts
and supplies services decreased by¥33 million (0.7%) year-on-year. The
cloud services developed by Amano
Business Solutions Corporation continued to perform strongly.
Overall overseas sales increasedby ¥3,024 million (23.1%), as both
Accu-Time Systems, Inc. in North
America and Horoquartz S.A. in Europe sales increased.

Time Management Products¥2,572 million (down 9.5% year-on-year)

Overall domestic sales for the current term decreased by ¥51 million(2.2%) year-on-year as the sales ofstandard time recorders and PClinked time recorders decreased.
Overall overseas sales decreasedby ¥176 million (23.8%) as sales inNorth America and Asia decreased.

Parking Systems(51.9%), while sales generated bymaintenance contracts and supplies
services remained flat year-on-year.

Domestic sales for the current term
were as follows. For non-consolidated Amano, domestic parking lot
management systems sales continued to increase by ¥2,925 million(21.2%) due to a recovery trend,
while sales generated by maintenance contracts and supplies services
increased by ¥1,600 million (16.6%).
Sales continued to increase in theconsigned parking lot management
service business operated by Amano
Management Service. As a result of
the continued investment by them,
the number of parking spaces undermanagement increased by 27,000(3.9%) from the end of the previous
fiscal year.

Overall overseas sales increased by¥122 million (3.2%) as sales in Asia
increased due to a recovery in mainly Thailand.

¥78,510 million (up 21.3% year-on-year)

Overall overseas sales increased by¥9,190 million (31.2%) due to theincrease in the sales of Amano McGann, Inc. in North America and theincrease in sales of the consigned
parking lot management service business in South Korea and Hong Kongin Asia.

Clean Systems¥12,935 million (down 1.0% year-on-year)

During the current term for nonconsolidated Amano, overall domestic sales of cleaning equipment
increased by ¥378 million (17.4%)
due to increase in sales of robotic
floor scrubbers, and domestic sales
generated by maintenance contracts
and supplies services increased by¥22 million (1.1%) year-on-year.
Overall overseas sales decreased by¥560 million (7.0%) as Amano Pioneer Eclipse Corporation in North
America saw the decline in sales.

Summary of Financial Condition for This Fiscal Year

Environment System business(i) Assets, liabilities, and net assets

The sales in this business totaled¥36,024 million, up by ¥2,117 million(up 6.2%) year-on-year. The following is a breakdown of sales by business division.

Total assets amounted to ¥184,585
million (up ¥13,334 million from theprevious consolidated fiscal yearend).

Environmental Systems¥23,089 million (up 10.8% year-on-year)

During the current term for nonconsolidated Amano, domes tic
sales of standard dust collectors decreased by ¥455 million (6.1%). On
the other hand, sales of large-scale
systems increased by ¥2,518 million

4• C urrent assets: an increase of¥7,142 million due to increases
in notes and accounts receivabletrade and contract assets, andmerchandise and finished goods,etc.
• Fixed assets: an increase of ¥6,191
million due to increases in leaseassets (net), and investment securities, etc.

Total liabilities amounted to ¥56,482
million (up ¥6,869 million from theprevious consolidated fiscal yearend).
• Current liabilities: an increase of¥6,776 million due to an increasein lease obligations, etc.
• Long-term liabilities: an increase of¥93 million due to an increase inlease obligations, etc.
Net assets amounted to ¥128,103
million (up ¥6,464 million from theprevious consolidated fiscal yearend).
• Shareholders' equity: an increaseof ¥728 million due to posting of
net income attributable to ownersof the parent company, etc.
• A ccumulated other comprehensive income: an increase of ¥6,116
million due to increases in foreign
currency translation adjustments,etc.

Summary of Cash Flows forThis Fiscal Year
Consolidated cash and cash equivalents decreased by ¥3,435 million
from the previous fiscal year-end
to a total of ¥51,648 million as ofMarch 31, 2024. The status of eachtype of cash flow at year-end andthe underlying factors are as follows.
Net cash provided by operating activities totaled ¥23,771 million (anincrease in income of ¥4,820 million
year-on-year).
• Main income factors:
Posting of income before incometaxes amounting to ¥19,032 million and posting of depreciation
and amortization amounting to¥10,256 million.

• Main expenditure factors:
Posting of income taxes paid
amounting to ¥6,089 million andposting of increase in trade notes
and accounts receivable and contract assets amounting to ¥4,110million.
Net cash used in investing activities
totaled −¥10,221 million (an increasein cash outflow of ¥2,845 million
year-on-year).
• Main income factors:
Posting of proceeds from withdrawal of time deposits amountingto ¥10,856 million.
• Main expenditure factors:
Posting of increase in time deposits
amounting to ¥13,530 million andposting of payment for purchaseof tangible fixed assets amounting
to ¥3,417 million.
Posting of payment for acquisitionof intangible fixed assets amounting to ¥2,439 million and posting of payment for acquisition ofsubsidiary shares involving change
to the scope of consolidation
amounting to ¥1,809 million.
Net cash used in financing activities
amounted to −¥18,216 million (anincrease in cash outflow of ¥4,265
million year-on-year).
• Main income factors:
Posting of proceeds from sale andleaseback amounting to ¥1,732million.
• Main expenditure factors:
Posting of dividends paid amounting to ¥8,764 million and postingof repayments of lease obligations
amounting to ¥6,785 million.
Posting of payment for acquisitionof treasury stock amounting to¥3,719 million.

5

Future Outlook
With regard to the outlook for theJapanese economy in the next fiscal
year, although there are uncertainties
in the economic outlook due to suchconcerns about recession overseas,heightened geopolitical risks, and theimpact of various price hikes andchanges in monetary policy, etc., theeconomy is expected to continue ona gradual recovery path, backed bystrong corporate appetite for capital
investment.
Amid this business environment,
Amano and our group companies
have set "The 4th Stage Towards a
100-year Company-Commitment toa Paradigm Shift Leading to Sustainable Management" as our management concept and work to address
key issues in the ”9th Medium-TermBusiness Plan”.
The details of the Plan are available
for inspection on the Amano’s website.