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RECENT EARNINGS

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Recent Earnings

FY Mar 2025 Three Months Results

Achieved record highs in both sales and profits, in line with the forecast announced on May 13

  • The increase of net sales was due to higher maintenance sales resulting from an increase in the number of maintenance contracts, as well as a high level of repair and modernization sales.
  • The operating margin hit a record high of 16.7% driven by a decline in personnel expenses as a percentage of net sales and SG&A cost containment.
  • As a result, operating profit and other profit indicators increased approximately 50% YoY.

    • (millions of yen, yen, %)

    3 months ended 3 months ended YoY change
    June 2023 June 2024
    Amount % of sales Amount % of sales Amount %
    Net sales 9,494 100.0 11,544 100.0 2,050 21.6
    Operating profit 1,308 13.8 1,924 16.7 616 47.1
    Ordinary profit 1,326 14.0 1,945 16.9 618 46.6
    Profit attributable to
    owners of parent    		 837 8.8 1,256 10.9 418 50.0
    (Depreciation) 332 3.5 370 3.2 38 11.5
    (Amortization) 67 0.7 66 0.6 -0 -0.9
    EBITDA 1,707 18.0 2,361 20.5 653 38.3
    EPS 9.40 -- 14.11 -- 4.70 50.0

    Sales up by 21.6% YoY in line with annual expectation with maintenance and repair sales increased at a high level due to a recovery in the volume of repair work

  • Sales of maintenance services continue to grow steadily as the number of maintenance contracts increases.
  • With the normalization of the supply of genuine parts, the volume of repair work has recovered throughout the previous year, and achieved significant YoY growth in the quarter.
  • Demand for modernization remained strong with sales up 28.9% YoY.

    • (millions of yen, yen, %)

    3 months ended 3 months ended YoY change
    June 2023 June 2024
    Amount % of sales Amount % of sales Amount %
    Maintenance & Repair 6,142 64.7 7,269 63.0 1,127 18.3
    Modernization 3,016 31.8 3,887 33.7 870 28.9
    Other 335 3.5 387 3.4 52 15.6
    Total 9,494 100.0 11,544 100.0 2,050 21.6

    A good start as both the number of maintenance contracts and modernization shipments continued to increase

  • The number of maintenance contracts in Japan was 104,670 units. Net increase of 4,440 units was the highest quarterly organic net increase.
  • Strong demand drove the number of modernization shipment to 530 units, up 100 units YoY.
  • The number of offices increased to 144 (as of August 1). The Company aims to expand its market share in the Chugoku and Kyushu regions by opening sales offices in Yamaguchi and Saga.

    • (units,person)

    FY Ended FY Ended FY Ended FY Ended 3 months ended
    March 2021 March 2022 March 2023 March 2024 June 2024
    Actual Actual Actual Actual Actual （Change YtD)
    Maintenance contracts 67,500 79,000 88,630 100,230 104,670 +4,440
    Modernization (cumlative) 920 1,150 1,530 1,930 530 +100
    Parking equipments -- 18,830 22,050 24,660 25,770 +1,110
    No. of offices 101 124 132 141 144 +3
    No. of Employees 1,398 1,618 1,766 1,868 2,001 +133
    Technical personnel 881 1,003 1,096 1,159 1,270 +111
    Sales personnel 156 195 218 248 261 +13

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