Summary of Consolidated Financial Results for the Year Ended November 30, 2024 (Based on Japanese GAAP)

January 14, 2025

Company name:

Astena Holdings Co.,Ltd.

Stock exchange listing:

Tokyo

Stock code:

8095

URL https://www.astena-hd.com

Representative:

President & CEO

Satoshi Setoguchi

Inquiries:

Board Director Business Management

Takeshi Kawano

TEL 03-3279-0481

Scheduled date of ordinary general meeting of shareholders:

February 27, 2025

Scheduled date to file Securities Report:

February 27, 2025

Scheduled date to commence dividend payments:

February 28, 2025

Preparation of supplementary material on financial results:

Yes

Holding of financial results meeting:

Yes

(for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended November 30, 2024 (from December 1, 2023 to November 30, 2024)

(1) Consolidated operating results

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

%

Year ended November 30, 2024

57,993

11.6

2,815

149.6

2,804

105.6

(2,525)

-

Year ended November 30, 2023

51,984

4.7

1,127

37.6

1,363

53.7

1,162

100.6

Earnings per share

Diluted earnings per

Profit attributable to

Ordinary profit/total

Operating profit/net

share

owners of

assets

sales

parent/equity

Yen

Yen

%

%

%

Year ended November 30, 2024

(63.18)

-

(9.4)

4.3

4.9

Year ended November 30, 2023

29.47

-

4.2

2.1

2.2

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

%

Yen

As of November 30, 2024

64,595

25,302

38.9

624.60

As of November 30, 2023

67,254

28,601

42.3

719.53

(3) Consolidated cash flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash equivalents

operating activities

investing activities

financing activities

at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Year ended November 30, 2024

4,848

(2,937)

(2,651)

5,978

Year ended November 30, 2023

1,643

(2,835)

1,077

6,758

2. Cash dividends

Annual dividends per share

Total cash

Dividend payout

Ratio of dividends

to net assets

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Total

dividends (Total)

ratio (Consolidated)

(Consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

Year ended November 30, 2023

-

9.00

-

9.00

18.00

722

61.1

2.6

Year ended November 30, 2024

-

9.00

-

9.00

18.00

736

-

2.7

Year ending November 30, 2025

-

9.00

-

9.00

18.00

65.9

(Forecast)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Earnings per share

owners of parent

Six months ending

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

30,000

6.8

700

(48.0)

700

(49.1)

430

(39.0)

10.68

May 31, 2025

Full year

63,000

8.6

2,000

(29.0)

2,000

(28.7)

1,100

-

27.33

4. Notes

(1) Significant changes in the scope of consolidation during the year ended November 30, 2024:

No

(2) 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

As of November 30, 2024

40,982,832

shares

As of November 30, 2023

40,884,504

shares

Number of treasury shares at the end of the period

As of November 30, 2024

727,248

shares

As of November 30, 2023

1,385,833

shares

Average number of shares during the period

Year ended November 30, 2024

39,969,764

shares

Year ended November 30, 2023

39,461,187

shares

(Thousands of yen)

As of November 30, 2023

As of November 30, 2024

Assets

Current assets

Cash and deposits

6,881,270

6,101,384

Notes receivable - trade

1,002,023

702,422

Accounts receivable - trade

12,262,081

14,172,138

Contract assets

1,905,643

1,828,501

Electronically recorded monetary claims - operating

4,041,390

4,643,539

Merchandise and finished goods

6,348,158

6,136,794

Work in process

2,319,531

1,866,206

Raw materials and supplies

2,128,242

2,403,683

Accounts receivable - other

358,048

595,333

Other

658,721

700,008

Allowance for doubtful accounts

(11,055)

(8,615)

Total current assets

37,894,056

39,141,397

Non-current assets

Property, plant and equipment

Buildings and structures

10,269,781

10,560,819

Accumulated depreciation

(6,394,067)

(6,723,040)

Buildings and structures, net

3,875,713

3,837,778

Machinery, equipment and vehicles

10,663,559

10,994,589

Accumulated depreciation

(8,631,375)

(9,045,177)

Machinery, equipment and vehicles, net

2,032,183

1,949,411

Tools, furniture and fixtures

3,849,773

4,454,494

Accumulated depreciation

(2,805,445)

(3,166,038)

Tools, furniture and fixtures, net

1,044,328

1,288,456

Land

2,439,883

2,447,668

Leased assets

468,632

355,379

Accumulated depreciation

(264,214)

(224,926)

Leased assets, net

204,418

130,452

Construction in progress

5,215,630

2,266,341

Total property, plant and equipment

14,812,158

11,920,109

Intangible assets

Software

854,042

715,022

Goodwill

4,031,968

3,752,459

Technical assets

473,465

439,033

Customer relationship

1,821,991

1,617,373

Other

277,252

370,006

Total intangible assets

7,458,719

6,893,896

Investments and other assets

Investment securities

4,842,272

4,137,112

Retirement benefit asset

748,601

1,071,852

Deferred tax assets

1,048,915

960,229

Long-term deposits

124,960

129,026

Other

349,215

365,312

Allowance for doubtful accounts

(24,383)

(23,846)

Total investments and other assets

7,089,582

6,639,686

(Thousands of yen)

As of November 30, 2023

As of November 30, 2024

Total non-current assets

29,360,460

25,453,692

Deferred assets

Organization expenses

233

176

Total deferred assets

233

176

Total assets

67,254,750

64,595,266

(Thousands of yen)

As of November 30, 2023

As of November 30, 2024

Liabilities

Current liabilities

Notes and accounts payable - trade

8,503,064

9,256,514

Electronically recorded obligations - operating

3,570,394

4,339,522

Electronically recorded obligations - non-operating

16,704

25,505

Notes payable - facilities

762

16,236

Short-term borrowings

12,266,984

11,390,984

Accounts payable - other

526,488

882,240

Accrued expenses

2,534,995

3,166,474

Income taxes payable

572,640

732,001

Accrued consumption taxes

220,315

431,598

Provision for bonuses

628,277

684,090

Provision for product warranties

6,143

58,933

Provision for loss on disaster

-

14,700

Other provisions

41,460

-

Other

1,093,390

904,555

Total current liabilities

29,981,620

31,903,357

Non-current liabilities

Long-term borrowings

4,493,332

3,445,348

Lease liabilities

146,283

86,179

Deferred tax liabilities

965,738

909,483

Provision for share-based payments

104,846

105,559

Retirement benefit liability

2,553,267

2,403,347

Other

408,137

439,858

Total non-current liabilities

8,671,606

7,389,776

Total liabilities

38,653,227

39,293,134

Net assets

Shareholders' equity

Share capital

4,581,397

4,605,094

Capital surplus

6,574,102

6,320,723

Retained earnings

15,462,238

12,207,274

Treasury shares

(525,872)

(255,189)

Total shareholders' equity

26,091,866

22,877,902

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

1,703,144

1,388,668

Deferred gains or losses on hedges

(94)

(2,689)

Foreign currency translation adjustment

271,021

319,050

Remeasurements of defined benefit plans

354,348

560,640

Total accumulated other comprehensive income

2,328,419

2,265,670

Non-controlling interests

181,236

158,559

Total net assets

28,601,522

25,302,132

Total liabilities and net assets

67,254,750

64,595,266

(Thousands of yen)

Fiscal year ended

Fiscal year ended

November 30, 2023

November 30, 2024

Net sales

51,984,426

57,993,375

Cost of sales

35,666,898

38,623,760

Gross profit

16,317,527

19,369,615

Selling, general and administrative expenses

Packing and transportation costs

1,713,058

1,918,673

Advertising expenses

983,824

1,138,707

Provision of allowance for doubtful accounts

(2,273)

791

Remuneration, salaries and allowances

4,904,804

5,025,032

Retirement benefit expenses

227,569

232,106

Provision for bonuses

104,835

282,886

Welfare expenses

971,735

1,092,783

Travel and transportation expenses

333,030

383,659

Depreciation

1,145,642

1,075,390

Rent expenses

290,514

301,315

Other

4,516,800

5,102,413

Total selling, general and administrative expenses

15,189,542

16,553,761

Operating profit

1,127,984

2,815,853

Non-operating income

Interest income

2,006

1,520

Dividend income

61,254

61,806

Share of profit of entities accounted for using equity method

-

17,775

Rental income

13,463

4,864

Administrative service fee income

6,015

1,528

Reversal of allowance for doubtful accounts

107

544

Surrender value of insurance policies

75,966

7,845

Foreign exchange gains

20,584

-

Other

177,246

124,240

Total non-operating income

356,644

220,125

Non-operating expenses

Interest expenses

60,826

75,815

Commission for syndicated loans

13,061

12,758

Office relocation expenses

-

38,447

Share of loss of entities accounted for using equity method

4,145

-

Foreign exchange losses

-

34,039

Other

42,646

70,767

Total non-operating expenses

120,680

231,828

Ordinary profit

1,363,948

2,804,151

(Thousands of yen)

Fiscal year ended

Fiscal year ended

November 30, 2023

November 30, 2024

Extraordinary income

Gain on sale of non-current assets

791,695

477

Gain on sale of investment securities

51,052

315,803

Gain on donation of a state subsidy

14,827

-

Other

17,517

-

Total extraordinary income

875,091

316,281

Extraordinary losses

Loss on sale of non-current assets

4,135

-

Loss on disposal of non-current assets

29,664

158,323

Loss on valuation of investment securities

222,622

246,695

Impairment losses

418,267

4,100,991

Loss on liquidation of subsidiaries and associates

4,038

-

Loss on disaster

-

38,279

Business restructuring expenses

-

109,176

Total extraordinary losses

678,728

4,653,467

Profit (loss) before income taxes

1,560,311

(1,533,033)

Income taxes - current

1,010,846

973,320

Income taxes - deferred

(603,868)

31,623

Total income taxes

406,978

1,004,943

Profit (loss)

1,153,333

(2,537,977)

Loss attributable to non-controlling interests

(9,411)

(12,685)

Profit (loss) attributable to owners of parent

1,162,744

(2,525,292)

(Thousands of yen)

Fiscal year ended

Fiscal year ended

November 30, 2023

November 30, 2024

Profit (loss)

1,153,333

(2,537,977)

Other comprehensive income

Valuation difference on available-for-sale securities

695,419

(313,999)

Deferred gains or losses on hedges

4,099

(2,688)

Foreign currency translation adjustment

79,953

48,029

Remeasurements of defined benefit plans, net of tax

158,144

206,291

Share of other comprehensive income of entities accounted

556

(381)

for using equity method

Total other comprehensive income

938,172

(62,749)

Comprehensive income

2,091,505

(2,600,726)

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

2,100,917

(2,588,041)

Comprehensive income attributable to non-controlling

(9,411)

(12,685)

interests

Shareholders' equity

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders'

equity

Balance at beginning of

4,557,400

6,538,828

15,031,853

(531,722)

25,596,360

period

Changes during period

Issuance of new shares

23,997

23,997

47,995

Dividends of surplus

(721,846)

(721,846)

Profit (loss) attributable

1,162,744

1,162,744

to owners of parent

Purchase of treasury

(58)

(58)

shares

Disposal of treasury

5,907

5,907

shares

Changes in equity due

(10,513)

(10,513)

to capital transfer

Change in ownership

interest of parent due to

11,276

11,276

transactions with non-

controlling interests

Net changes in items

other than shareholders'

equity

Total changes during

23,997

35,274

430,384

5,849

495,506

period

Balance at end of period

4,581,397

6,574,102

15,462,238

(525,872)

26,091,866

Accumulated other comprehensive income

Valuation

Total

Non-controlling

Foreign currency

Remeasurements

accumulated

Total net assets

difference on

Deferred gains or

interests

available-for-sale

losses on hedges

translation

of defined

other

adjustment

benefit plans

comprehensive

securities

income

Balance at beginning of

1,007,002

(4,026)

191,067

196,203

1,390,246

82,094

27,068,701

period

Changes during period

Issuance of new shares

-

47,995

Dividends of surplus

-

(721,846)

Profit (loss) attributable

-

1,162,744

to owners of parent

Purchase of treasury

-

(58)

shares

Disposal of treasury

-

5,907

shares

Changes in equity due

-

(10,513)

to capital transfer

Change in ownership

interest of parent due to

-

11,276

transactions with non-

controlling interests

Net changes in items

other than shareholders'

696,142

3,932

79,953

158,144

938,172

99,142

1,037,314

equity

Total changes during

696,142

3,932

79,953

158,144

938,172

99,142

1,532,821

period

Balance at end of period

1,703,144

(94)

271,021

354,348

2,328,419

181,236

28,601,522