Interim report
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Consolidated Financial Results for the Six Months Ended December 31, 2024 [Japanese GAAP] January 31, 2025 Company name: OLBA HEALTHCARE HOLDINGS, Inc. Stock exchange listing: Tokyo Stock Exchange Code number: 2689 URL: https://www.olba.co.jp/ Representative: Yohei Maeshima, President CEO Contact: Nobuharu Murata, Managing Director and General Manager, Administrative Department Phone: +81-86-236-1115 Scheduled date of filing semi-annual securities report: February 14, 2025 Scheduled date of commencing dividend payments: - Availability of supplementary briefing material on financial results: Unavailable Schedule of financial results briefing session: Scheduled (for securities analysts) (Amounts of less than one million yen are rounded down.) 1. Consolidated Financial Results for the Six Months Ended December 31, 2024 (July 1, 2024 to December 31, 2024) (1) Consolidated Operating Results (% indicates changes from the previous year.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Six months ended Million yen % Million yen % Million yen % Million yen % December 31, 2024 60,627 5.5 808 8.2 824 10.5 648 33.3 December 31, 2023 57,466 7.0 746 (12.5) 746 (13.2) 486 (11.2) (Note) Comprehensive income: Six months ended December 31, 2024: ¥643 million [34.4%] Six months ended December 31, 2023: ¥478 million [(10.0)%] Basic earnings per share Diluted earnings per share Six months ended Yen Yen December 31, 2024 109.44 – December 31, 2023 81.01 – (2) Consolidated Financial Position Total assets Net assets Equity ratio Million yen Million yen % As of December 31, 2024 46,776 11,502 24.6 As of June 30, 2024 43,237 11,373 26.3 (Reference) Equity: As of December 31, 2024: ¥11,502 million As of June 30, 2024: ¥11,373 million
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2. Dividends Annual dividends 1st quarter-end 2nd quarter-end 3rd quarter-end Year-end Total Yen Yen Yen Yen Yen Fiscal year ended June 30, 2024 – 0.00 – 80.00 80.00 Fiscal year ending June 30, 2025 – 0.00 Fiscal year ending June 30, 2025 (Forecast) – 80.00 80.00 (Note) Revision to the forecast for dividends announced most recently: None 3. Consolidated Financial Results Forecast for the Fiscal Year Ending June 30, 2025 (July 1, 2024 to June 30, 2025) (% indicates changes from the previous corresponding period.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Million yen % Million yen % Million yen % Million yen % Yen Full year 123,726 4.4 2,270 1.9 2,253 0.4 1,465 (2.4) 247.65 (Note) Revision to the financial results forecast announced most recently: None Notes: (1) Significant changes in the scope of consolidation during the period under review: Yes Newly consolidated: 1 company (Company Name) THAI OLBA Healthcare Co., Ltd.; Removed from consolidation: None (Company Name) None (2) Accounting policies adopted specially for the preparation of semi-annual consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates and retrospective restatement 1) Changes in accounting policies due to the revision of accounting standards: None 2) Changes in accounting policies other than 1) above: None 3) Changes in accounting estimates: None 4) Retrospective restatement: None (4) Total number of issued shares (common stock) 1) Total number of issued shares at the end of the period (including treasury stock): December 31, 2024: 6,250,000 shares June 30, 2024: 6,250,000 shares 2) Total number of treasury stock at the end of the period: December 31, 2024: 325,345 shares June 30, 2024: 334,145 shares 3) Average number of shares during the period: Six months ended December 31, 2024: 5,922,512 shares Six months ended December 31, 2023: 6,000,432 shares As of December 31, 2024, 255,100 shares of the Company’s stock held by the Board Benefit Trust were included in treasury stock.
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* Semi-annual financial results are outside the scope of review procedures conducted by a certified public accountant or audit corporation. * Explanation of the proper use of financial results forecast and other notes The figures forecasted above are based on information that is available as of the date of publication of this document, and contain a wide range of uncertain factors. Actual results may differ significantly from these figures due to factors such as changes in the business environment.
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1 2. Semi-annual Consolidated Financial Statements and Principal Notes (1) Semi-annual Consolidated Balance Sheets (Thousand yen) As of June 30, 2024 As of December 31, 2024 Assets Current assets Cash and deposits 2,731,386 2,643,470 Notes and accounts receivable - trade, and contract assets 22,474,601 24,396,286 Electronically recorded monetary claims - operating 3,623,819 3,412,717 Merchandise 5,943,369 7,165,494 Other 812,879 639,245 Total current assets 35,586,056 38,257,214 Non-current assets Property, plant and equipment 4,360,058 5,127,128 Intangible assets Goodwill 7,665 3,832 Other 638,962 621,980 Total intangible assets 646,628 625,813 Investments and other assets 2,644,451 2,766,035 Total non-current assets 7,651,137 8,518,977 Total assets 43,237,194 46,776,191 Liabilities Current liabilities Notes and accounts payable - trade 17,827,446 20,595,244 Electronically recorded obligations - operating 8,372,433 7,820,980 Short-term borrowings 600,000 2,700,000 Income taxes payable 713,468 153,257 Provision for bonuses for directors (and other officers) – 9,519 Provision for bonuses 37,801 39,350 Other 2,163,930 1,603,191 Total current liabilities 29,715,079 32,921,543 Non-current liabilities Provision for share awards for directors (and other officers) 264,847 289,015 Provision for retirement benefits for directors (and other officers) – 1,226 Retirement benefit liability 482,592 502,078 Long-term accounts payable - other 122,600 122,600 Other 1,278,382 1,437,469 Total non-current liabilities 2,148,422 2,352,389 Total liabilities 31,863,502 35,273,933
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2 (Thousand yen) As of June 30, 2024 As of December 31, 2024 Net assets Shareholders' equity Share capital 607,750 607,750 Capital surplus 321,534 329,415 Retained earnings 10,480,812 10,600,703 Treasury shares (557,173) (551,235) Total shareholders' equity 10,852,922 10,986,632 Accumulated other comprehensive income Valuation difference on available-for-sale securities 162,098 191,309 Foreign currency translation adjustment – (15,807) Remeasurements of defined benefit plans 358,670 340,123 Total accumulated other comprehensive income 520,769 515,625 Non-controlling interests – – Total net assets 11,373,691 11,502,258 Total liabilities and net assets 43,237,194 46,776,191
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3 (2) Semi-annual Consolidated Statements of Income and Comprehensive Income Semi-annual Consolidated Statements of Income (Thousand yen) For the six months ended December 31, 2023 For the six months ended December 31, 2024 Net sales 57,466,305 60,627,694 Cost of sales 51,035,427 53,808,117 Gross profit 6,430,878 6,819,577 Selling, general and administrative expenses 5,683,979 6,011,456 Operating profit 746,899 808,120 Non-operating income Interest income 1,119 482 Dividend income 1,056 1,248 Insurance claim income 483 1,939 Foreign exchange gains – 15,594 Gain on investments in investment partnerships – 6,394 Commission income 841 451 Electricity sale income 5,130 4,188 Subsidy income 2,895 2,179 Other 7,720 5,154 Total non-operating income 19,246 37,632 Non-operating expenses Interest expenses 9,798 16,189 Electricity sale expenses 2,287 2,323 Other 7,921 2,975 Total non-operating expenses 20,006 21,487 Ordinary profit 746,138 824,265 Extraordinary income Gain on sale of property, plant and equipment 49 461 Compensation income – 5,000 Total extraordinary income 49 5,461 Extraordinary losses Loss on retirement of property, plant and equipment 751 2,896 Impairment losses – 11,132 Total extraordinary losses 751 14,028 Profit before income taxes 745,437 815,698 Income taxes - current 108,608 135,173 Income taxes - deferred 150,762 32,366 Total income taxes 259,370 167,540 Profit 486,066 648,158 Profit attributable to non-controlling interests – – Profit attributable to owners of parent 486,066 648,158
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4 Semi-annual Consolidated Statements of Comprehensive Income (Thousand yen) For the six months ended December 31, 2023 For the six months ended December 31, 2024 Profit 486,066 648,158 Other comprehensive income Valuation difference on available-for-sale securities 2,609 29,210 Foreign currency translation adjustment – (15,202) Remeasurements of defined benefit plans, net of tax (9,877) (18,546) Total other comprehensive income (7,268) (4,539) Comprehensive income 478,798 643,619 Comprehensive income attributable to Comprehensive income attributable to owners of parent 478,798 643,619 Comprehensive income attributable to non- controlling interests – –
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5 (3) Semi-annual Consolidated Statements of Cash Flows (Thousand yen) For the six months ended December 31, 2023 For the six months ended December 31, 2024 Cash flows from operating activities Profit before income taxes 745,437 815,698 Depreciation 259,008 289,133 Amortization of goodwill 2,555 3,832 Impairment losses – 11,132 Increase (decrease) in allowance for doubtful accounts 3,097 (1,977) Decrease (increase) in retirement benefit asset (15,370) (29,899) Increase (decrease) in retirement benefit liability 27,894 19,485 Increase (decrease) in provision for retirement benefits for directors (and other officers) – 1,226 Increase (decrease) in provision for share awards for directors (and other officers) 25,318 24,167 Interest and dividend income (2,175) (1,730) Compensation income – (5,000) Interest expenses 9,798 16,189 Foreign exchange losses (gains) – (15,349) Loss (gain) on sale of property, plant and equipment (49) (461) Loss on retirement of property, plant and equipment 751 2,896 Decrease (increase) in trade receivables (1,629,705) (1,711,736) Decrease (increase) in inventories (429,463) (1,147,550) Increase (decrease) in trade payables 1,474,415 2,216,345 Increase (decrease) in long-term accounts payable - other (27,077) – Other, net (91,218) (588,153) Subtotal 353,216 (101,752) Interest and dividends received 1,936 1,730 Interest paid (10,908) (16,945) Proceeds from compensation – 5,000 Income taxes paid (537,078) (687,640) Income taxes refund 47,277 – Net cash provided by (used in) operating activities (145,555) (799,607) Cash flows from investing activities Purchase of property, plant and equipment (154,209) (797,140) Proceeds from sale of property, plant and equipment 50 – Purchase of intangible assets (87,034) (83,349) Purchase of investment securities (5,000) (17,905) Loan advances to subsidiaries and associates (100,975) – Proceeds from distributions from investment partnerships – 9,792 Net cash provided by (used in) investing activities (347,169) (888,603)
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6 (Thousand yen) For the six months ended December 31, 2023 For the six months ended December 31, 2024 Cash flows from financing activities Net increase (decrease) in short-term borrowings 1,800,000 2,100,000 Repayments of long-term borrowings (55,000) – Purchase of treasury shares (221,569) (135,681) Proceeds from disposal of treasury shares 1,884 139,763 Dividends paid (435,736) (488,018) Repayments of lease liabilities (75,196) (76,430) Net cash provided by (used in) financing activities 1,014,382 1,539,633 Effect of exchange rate change on cash and cash equivalents – – Net increase (decrease) in cash and cash equivalents 521,657 (148,577) Cash and cash equivalents at beginning of period 2,359,777 2,681,186 Increase in cash and cash equivalents resulting from inclusion of subsidiaries in consolidation – 60,661 Cash and cash equivalents at end of period 2,881,434 2,593,270