Tohto Suisan : For the three-months period ended june 30,2023

1st quarter-end

Yen

-

-

Annual dividends per share

2nd quarter-end3rd quarter-endFiscal year-end

YenYenYen

--135.00

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 June 30, 2023 (Based on Japanese GAAP)

				August 10, 2023
Company name:	Tohto Suisan Co., Ltd
Stock exchange listing:	Tokyo
Stock code:	8038	URL https://www.tohsui.co.jp
Representative:	President and Representative Director	Shoji Kuga
Inquiries:	Director, Accounting Dept.	Hiroshi Tanaka	TEL [phone]
Scheduled date to file Quarterly Securities Report:	August 10, 2023
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)

(1) Consolidated operating results (cumulative)						Percentages indicate year-on-year changes
	Net sales			Operating profit	Ordinary profit	Profit attributable to
			owners of parent
	Millions of yen	%		Millions of yen	%	Millions of yen		%	Millions of yen	%
Three months ended June 30, 2023	24,154	12.8		216	(16.0)	384		7.2	277	(7.1)
Three months ended June 30, 2022	21,405	17.9		257	58.4	358		68.4	298	90.0
	Earnings per share			Diluted earnings per share
			Yen			Yen
Three months ended June 30, 2023		70.66			-
Three months ended June 30, 2022		76.09			-
(2) Consolidated financial position
	Total assets			Net assets	Equity ratio		Net assets per share
	Millions of yen			Millions of yen				%		Yen
As of June 30, 2023		35,106				23,322				66.4	5,943.44
As of March 31, 2023		35,240				23,348				66.3	5,951.11

2. Cash dividends

Year ended March 31, 2023

Year ending March 31, 2024

Year ending March 31, 2024 (Forecast) -

Note: Revision of cash dividend forecast most recently announced: No

-

135.00

Total

Yen 135.00

135.00

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

Percentages indicate year-on-year changes

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per share
		owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year	95,000	(1.4)	2,000	(30.4)	2,000	(36.3)	1,500	(44.4)	382.30

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4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2023 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(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:	No
Changes in accounting estimates:	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 June 30, 2023	4,026,000	shares	As of March 31, 2023	4,026,000	shares
Number of treasury shares at the end of the period
	As of June 30, 2023	101,940	shares	As of March 31, 2023	102,606	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2023	3,923,663	shares	Three months ended June 30, 2022	3,923,239	shares

• Quarterly financial results reports are exempt from quarterly review procedures conducted by certified public accountants or an audit corporation.
• Proper use of forecasts of financial results, and other special matters

The forward-looking statements, including the earnings forecasts, shown in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual results may differ substantially due to various factors.

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Quarterly consolidated financial statements

Consolidated balance sheets

		(Millions of yen)
	As of March 31, 2023	As of June 30, 2023
Assets
Current assets
Cash and deposits	7,751	7,183
Notes and accounts receivable - trade	7,431	7,408
Merchandise and finished goods	5,084	5,167
Work in process	3	6
Raw materials and supplies	103	101
Other	181	330
Allowance for doubtful accounts	(381)	(407)
Total current assets	20,173	19,790
Non-current assets
Property, plant and equipment
Buildings and structures, net	3,169	3,115
Land	3,394	3,395
Other, net	1,166	1,164
Total property, plant and equipment	7,729	7,674
Intangible assets
Fishery right	3,637	3,908
Other	322	330
Total intangible assets	3,960	4,239
Investments and other assets
Other	3,568	3,561
Allowance for doubtful accounts	(191)	(159)
Total investments and other assets	3,376	3,401
Total non-current assets	15,066	15,315
Total assets	35,240	35,106
Liabilities
Current liabilities
Notes and accounts payable - trade	2,887	3,478
Short-term borrowings	2,337	2,210
Income taxes payable	285	73
Provision for bonuses	78	160
Provision for shareholder benefit program	1	1
Other	1,474	1,103
Total current liabilities	7,064	7,027
Non-current liabilities
Long-term borrowings	2,274	2,099
Retirement benefit liability	643	639
Provision for share awards	35	33
Provision for share awards for directors	38	43
Asset retirement obligations	119	119
Other	1,716	1,821
Total non-current liabilities	4,827	4,756
Total liabilities	11,891	11,784

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		(Millions of yen)
	As of March 31, 2023	As of June 30, 2023
Net assets
Shareholders' equity
Share capital	2,376	2,376
Capital surplus	1,085	1,085
Retained earnings	18,302	18,042
Treasury shares	(260)	(260)
Total shareholders' equity	21,502	21,243
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	672	836
Deferred gains or losses on hedges	1	(1)
Revaluation reserve for land	522	522
Foreign currency translation adjustment	589	663
Remeasurements of defined benefit plans	59	57
Total accumulated other comprehensive income	1,845	2,078
Total net assets	23,348	23,322
Total liabilities and net assets	35,240	35,106

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

		(Millions of yen)
	Three months ended	Three months ended
	June 30, 2022	June 30, 2023
Net sales	21,405	24,154
Cost of sales	19,941	22,685
Gross profit	1,463	1,468
Selling, general and administrative expenses	1,206	1,252
Operating profit	257	216
Non-operating income
Interest income	5	32
Dividend income	99	70
Reversal of allowance for doubtful accounts	-	31
Foreign exchange gains	-	4
Subsidy income	0	0
Other	35	35
Total non-operating income	139	175
Non-operating expenses
Interest expenses	4	4
Foreign exchange losses	23	-
Other	9	2
Total non-operating expenses	38	7
Ordinary profit	358	384
Extraordinary income
Gain on sale of non-current assets	-	2
Total extraordinary income	-	2
Profit before income taxes	358	387
Income taxes - current	50	68
Income taxes - deferred	10	41
Total income taxes	60	109
Profit	298	277
Profit attributable to owners of parent	298	277

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