The original disclosure in Japanese was released on Aug. 8, 2023 at 15:30 (GMT+9)

Consolidated Financial Statements for the Year Ended June 30, 2023

FY2024 (April 1, 2023 - March 31, 2024) [UNAUDITED]

Company name:

Takara Holdings Inc.

Stock exchange listings:

Tokyo Stock Exchange (PRIME section)

Code number:

2531

URL:

https://www.takara.co.jp/

Company representative:

Mutsumi Kimura, President

Contact:

Masakazu Usami, General Manager of Public Relations& Investor Relations Dept..

TEL：(075)241-5124

Quarterly statement filing date(as planned):

August 10, 2023

Notes:

1. The accompanying financial statements have been prepared in accordance with accounting principles and practices generally accepted

in Japan.

2. Amounts are rounded down to the nearest million yen.

1. Results for the three months ended June 30, 2023 (April 1, 2023 - June 30, 2023)

  1. Consolidated operating results

Note: Percentages indicated changes from the same period of the previous fiscal year.

Three months ended

Three months ended

June 30, 2023

June 30, 2022

(Millions of yen)

(%)

(Millions of yen)

(%)

Net sales

81,510

4.8

77,782

13.0

Operating income (loss)

7,101

(20.2)

8,894

(27.9)

Ordinary income (loss)

7,700

(16.8)

9,253

(27.4)

Net income (loss) attributable to owners of the parent

4,965

(5.3)

5,241

(2.0)

Net income (loss) per share (Yen)

25.11

26.51

Fully diluted net income per share (Yen)

-

-

Note: Comprehensive income (loss)

11,166

(14.7)

13,091

(1.1)

(2) Consolidated financial position

As of June 30, 2023

As of March 31, 2023

(Millions of yen)

(Millions of yen)

Total assets

403,769

399,174

Net assets

256,964

255,318

Equity ratio (%)

51.2

51.1

(Reference) Equity

206,870

203,951

2. Dividends

Dividend per share (Yen)

Year ended March 31,

Year ending March 31,

Year ending March 31,

2023

2024

2024 (Forecast)

First quarter end

-

-

-

Second quarter end

-

-

-

Third quarter end

-

-

-

Year end

38.00

-

27.00

Annual

38.00

-

27.00

Note: Correction of dividend forecast from the most recent dividend forecast: No

3. Forecast for the year ending March 31, 2024 (April 1, 2023 - March 31, 2024)

Note: Percentages indicated changes from the same period of the previous fiscal year.

Six months ending

Year ending March 31, 2024

September 30, 2023

(Millions of yen)

(%)

(Millions of yen)

(%)

Net sales

170,000

3.5

355,000

1.2

Operating income (loss)

11,100

(43.4)

26,300

(30.7)

Ordinary income (loss)

11,400

(42.9)

26,800

(30.8)

Net income (loss) attributable to owners of the parent

6,700

(38.4)

15,000

(29.3)

Net income per share (Yen)

33.89

75.87

Note: Correction of financial forecast from the most recent financial forecast: No

4. Others

  1. Material changes in subsidiaries during this period

(Changes in specified subsidiaries that caused a change in the scope of consolidation): No

  1. Accounting procedures specific to quarterly consolidated financial statements ： No
  2. Changes in accounting policies, accounting estimates and retrospective restatement
    1. Changes based on revisions of accounting standard: No
    2. Changes other than ones based on revisions of accounting standard: No
    3. Changes in accounting estimates: No
    4. Restatement: No
  4. Number of outstanding shares (common stock)
    1. Number of outstanding shares at the end of each period (Treasury stocks are included):

As of June 30, 2023 ：

199,699,743 shares

As of March 31, 2023 ：

199,699,743 shares

2)

Number of treasury stocks at the end of each period:

As of June 30, 2023 ：

1,995,612 shares

As of March 31, 2023 ：

1,995,612 shares

3)

Average number of outstanding shares in each period

Three months ended June 30, 2023

：

197,704,131 shares

Three months ended June 30, 2022

：

197,704,166 shares

Contents of the attached document

1. Qualitative Information for the Three Months Ended June 30, 2023 …………………………………………..……

2

(1) Consolidated Financial Results ……………………………………………………………………….………………

2

(2) Consolidated Financial Position ………………………………………………………………………………………

3

(3) Qualitative Information Regarding Consolidated Forecasts …………………………………..………………………

4

2. Consolidated Quarterly Financial Statements and Primary Notes …………………………………………………………

5

(1) Consolidated Balance Sheets ……………………………………………………………………….…………………

5

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income ………………………

7

(Consolidated Statements of Income) …………………………………………………………………………..……

7

(For the Three Months Ended June 30, 2023 and 2022)

(Consolidated Statements of Comprehensive Income) ………………………………………………………………

8

(For the Three Months Ended June 30, 2023 and 2022)

(3) Notes to Consolidated Financial Statements …………………………………………………………….……………

9

(Notes on Premise of Going Concern) ………………………………………………………………………………

9

(Notes on Material Changes in Shareholders' Equity) ………………………………………………………………

9

(Segment Information) ………………………………………………………………………………………………

9

○ Supplement for the Consolidated Quarterly Financial Statements

－ 1 －

1. Qualitative Information for the Three Months Ended June 30, 2023

  1. Consolidated Financial Results

In the three months ended June 30, 2023, net sales increased 4.8% year on year to ¥81,510 million, gross profit increased 2.0% year on year to ¥28,039 million, and SG&A expenses increased 12.6% year on year to ¥20,937 million. Operating income decreased 20.2% year on year to ¥7,101 million, ordinary income decreased 16.8% year on year to ¥7,700 million, and net income attributable to owners of the parent decreased 5.3% year on year to ¥4,965 million.

Results by business segment were as follows.

[Takara Shuzo]

In the three months ended June 30, 2023, although sales of shochu and sake decreased year on year, sales of light-alcohol refreshers, Hon Mirin and raw alcohol increased.

As a result, net sales for Takara Shuzo increased 2.7% year on year to ¥31,773 million. Cost of sales decreased 1.6% year on year to ¥23,389 million, mainly due to decreased sales volumes and a change in the sales mix, despite the impact of soaring raw material and fuel prices. Gross profit increased 16.9% year on year to ¥8,383 million. SG&A expenses decreased 4.6% year on year to ¥5,788 million due to a decrease in transportation costs and advertising expenses. Operating income was up 134.2% year on year to ¥2,595 million.

[Takara Shuzo International Group]

In the three months ended June 30, 2023, net sales of the Overseas Alcoholic Beverages Business increased year on year mainly due to continued growth in sales of whiskey in the U.S. and U.K. as well as an increase in sales of sake. Net sales of the Japanese Food Wholesale Business in overseas markets also increased as the eating and drinking establishment market continued to perform well, with the development of new business bases also contributing positively.

As a result, net sales for the Takara Shuzo International Group increased 27.4% year on year to ¥37,432 million. Cost of sales increased 24.7% year on year to ¥25,228 million in line with the increase in net sales. Consequently, gross profit increased 33.6% year on year to ¥12,203 million. SG&A expenses were up 31.3% year on year to ¥8,616 million, primarily due to an increase in personnel expenses and transportation costs, and operating income was up 39.4% year on year to ¥3,587 million.

[Takara Bio Group]

In the three months ended June 30, 2023, although sales of CDMO and gene therapy increased year on year, sales of reagents and instruments decreased. As a result, net sales for the Takara Bio Group decreased 34.9% year on year to ¥9,176 million. In particular, sales of testing-related reagents decreased, mainly due to the convergence of the COVID-19 pandemic and changes in the legal categorization of the virus. Cost of sales decreased 32.5% year on year to ¥2,683 million, mainly due to a decrease in net sales. Consequently, gross profit decreased 35.9% year on year to ¥6,493 million. SG&A expenses were up 8.6% year on year to ¥6,069 million, primarily due to increases in personnel expenses and R&D expenses. Operating income decreased 90.7% year on year to ¥423 million.

[Other]

In the three months ended June 30, 2023, net sales of the Other segment decreased 5.5% year on year to ¥7,623 million due to decreased sales in the transportation business and the printing business. Cost of sales decreased 5.7% year on year to ¥6,466 million. Consequently, gross profit decreased 4.2% year on year to ¥1,156 million. SG&A expenses decreased 1.1% year on year to ¥469 million due to decreases in personnel expenses and sales promotion expenses, and operating income was down 6.2% year on year to ¥686 million.

－ 2 －

Breakdown of sales results by product category

Equivalent Period of

Period under Review

Previous Fiscal Year

YoY

Segment

(From April 1, 2023,

(From April 1, 2022,

Comparison

to June 30, 2023)

to June 30, 2022)

Product category

Amount (Millions of yen)

Amount (Millions of yen)

(%)

Takara Shuzo

Shochu

10,821

9,612

(11.2)

Sake

2,395

2,292

(4.3)

Light-alcohol refreshers

9,707

10,684

10.1

Other alcoholic beverages

1,399

1,486

6.3

Hon Mirin

2,251

2,328

3.4

Other seasonings

2,127

2,215

4.2

Raw alcohol, etc.

2,239

3,153

40.8

Total

30,941

31,773

2.7

Takara Shuzo International Group

Overseas Alcoholic

3,848

4,889

27.0

Beverages Business

Japanese Food

Wholesales Business in

25,980

33,140

27.6

overseas markets

Other

2,797

198

(92.9)

Elimination of intra-Group

(3,256)

(796)

－

transaction on consolidation

Total

29,371

37,432

27.4

Takara Bio Group

Reagents

12,043

6,909

(42.6)

Instruments

267

220

(17.5)

CDMO

1,291

1,366

5.8

Gene therapy

499

679

36.1

Total

14,102

9,176

(34.9)

Reported segment total

74,415

78,382

5.3

Other

8,064

7,623

(5.5)

Segment total

82,479

86,005

4.3

Sales not allocated to

business segments and

(4,696)

(4,495)

－

intersegment transactions

Total

77,782

81,510

4.8

Note: 1. Amounts include alcohol tax.

(2) Consolidated Financial Position

As of June 30, 2023, current assets were ¥237,491 million, a decrease of ¥4,022 million compared with that at the end of the previous fiscal year. This was primarily due to a decrease in cash and deposits of ¥8,907 million, despite an increase in other in current assets of ¥3,396 million. Noncurrent assets were ¥166,278 million, an increase of ¥8,616 million compared with that at the end of the previous fiscal year. This was primarily due to increases in property, plant and equipment of ¥768 million, intangible assets of ¥569, and investments and other assets of ¥7,278 million due to an increase in the market valuation of investment securities.

As a result, total assets were ¥403,769 million, an increase of ¥4,594 million compared with that at the end of the previous fiscal year.

As of June 30, 2023, current liabilities were ¥67,300 million, a decrease of ¥154 million compared with that at the end of the previous fiscal year. Noncurrent liabilities were ¥79,503 million, an increase of ¥3,101 million compared with that at the end of the previous fiscal year.

As a result, total liabilities were ¥146,804 million, an increase of ¥2,947 million compared with that at the end of the

－ 3 －

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Takara Holdings Inc. published this content on 21 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 07:42:44 UTC.