Interim report
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DISCLAIMER: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy betwee n this translated document and the Japanese original, the original shall prevail. November 5, 2025 Consolidated Financial Results for the Six Months Ended September 30, 2025 (Under Japanese GAAP) Company name: YAMADA Consulting Group Co.,Ltd. Listing: Tokyo Stock Exchange Securities code: 4792 URL: https://www.yamada-cg.co.jp Representative: Keisaku Masuda, President Inquiries: Hideji Shuto, Director and General Manager of Administration Department Telephone: +81-3-6212-2500 Scheduled date to file semi-annual securities report: November 13, 2025 Scheduled date to commence dividend payments: December 5, 2025 Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes For Institutional Investors, Analys ts, and Individual Investors (Yen amounts are rounded down to millions, unless otherwise noted.) 1. Consolidated financial results for the six months ended Septem ber 30, 2025 (from April 1, 2025 to September 30, 2025) (1) Consolidated operating results (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Six months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % September 30, 2025 13,367 7.6 2,090 (27.8) 2,037 (27.9) 1,415 (25.8) September 30, 2024 12,422 8.3 2,897 83.3 2,827 74.3 1,908 49.5 Note: Comprehensive income For the six months ended September 30, 2025: ¥1,416 million [(27.9)%] For the six months ended September 30, 2024: ¥1,965 million [35.9%] Basic earnings per share Diluted earnings per share Six months ended Yen Yen September 30, 2025 74.07 74.06 September 30, 2024 100.09 100.03 (2) Consolidated financial position Total assets Net assets Equity-to-asset ratio As of Millions of yen Millions of yen % September 30, 2025 25,425 19,299 73.7 March 31, 2025 23,470 18,580 76.8 Reference: Equity As of September 30, 2025: ¥18,741 million As of March 31, 2025: ¥18,035 million 2. Cash dividends Annual dividends per share First quarter -end Second quarter -end Third quarter -end Fiscal year -end Total Yen Yen Yen Yen Yen Fiscal year ended March 31, 2025 - 38.00 - 39.00 77.00 Fiscal year ending March 31, 2026 - 38.00 Fiscal year ending March 31, 2026 (Forecast) 39.00 77.00 Note: Revisions to the forecast of cash dividends most recently announced: None 3. Forecast of consolidated financial results for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Fiscal year ending March 31, 2026 26,000 14.2 3,800 (8.0) 3,700 (9.7) 2,750 (4.5) 143.86 Note: Revisions to the earnings forecasts most recently announced: None 㻝
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2. Sales are expected to grow 14.2% and gross profit is expected to grow 0.9%. This is due to the fact that in the investment business, net sales were 2,410 million yen, cost of sales was 1,176 million yen, and gross profit was 1,234 million yen in the fiscal year ending March 31, 2025 due to the sale of investment stocks and investment real estate, while sales in the investment business are expected to be 5,200 million yen, cost of sales 4,030 million yen, and gross profit of 1,170 million yen in the fiscal year ending March 31, 2026. In the consulting business, we expect sales to grow by 2.1% and gross profit by 1.3%. Operating income is expected to decrease by 8.0%, but selling, general and administrative expenses are expected to increase by 3.3% due to an increase in personnel costs due to an increase in the number of employees and salary increases for existing employees. * Notes (1) Significant changes in the scope of consolidation during the period: None (2) Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements:None (3) Changes in accounting policies, changes in accounting estimates, and r estatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including trea sury shares) As of September 30, 2025 19,896,000 shares As of March 31, 2025 19,896,000 shares (ii) Number of treasury shares at the end of the period As of September 30, 2025 772,670 shares As of March 31, 2025 797,022 shares (iii) Average number of shares outstanding during the period(cumulative from the b eginning of the fiscal year) Six months ended September 30, 2025 19,107,535 shares Six months ended September 30, 2024 19,068,635 shares * Semi-annual financial results reports are exempt from review c onducted by certified public accountants or an audit firm. * Proper use of earnings forecasts, and other special matters (Cautions on forward-looking statements, etc.) Forward-looking statements, such as forecasts of business performance, etc., contained in this material are based on information obtained by the Company and certain assumptions that the Company deems reasonable, and are not intended to be a promise by the Company to realize them. Actual financial results, etc. may differ substantially due to various factors. For the conditions on which earnings forecasts are predicated and precautions for the use of earnings forecasts, please refer to Appendix P.5 "1. Summary of Operating Results, etc. (3) Explanation of Forward-Looking Information such as Consolidated Earnings Forecasts." (How to obtain supplementary explanatory materials for half-year financial results and materials for half-year financial results briefings) The Company plans to hold a semi-annual financial results briefing (live-streamed via Zoom webinar) on Tuesday, November 11, 2025 (starting at 1:30 p.m.). This briefing session is open to everyone. "How to apply" Pre-registration is required. Please proceed to the Zoom webinar registration page from the URL below and register the necessary information. Registration page : https://us06web.zoom.us/webinar/register/WN_qa9VM2PuRlam7onzujxpKg Application deadline: Tuesday, November 11, 2025 at 10:00 a.m. The financial results briefing materials used in this briefing will be disclosed on TDnet on the same day and posted on the Company's website on the same day. In addition, a video of this briefing will be posted on the Company's website as soon as the event is held. 㻞
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1. Overview of Business Performance (1) Overview of business performance for the current interim consolidated accounting period For the Group’s interim consolidated accounting period, from April 1, 2025 to September 30, 2025, YAMADA Consulting Group (hereinafter referred to as “the Company”) reported net sales of ¥13,367,944 thousand (up 7.6% year-onyear-), cost of sales of ¥3,551,247 thousand (up 61.5%), gross profit of ¥9,816,697 thousand (down 3.9%), operating i ncome of ¥2,090,315 thousand (down 27.8%), ordinary income of ¥2,037,750 thousand (down 27.9%), and net income at tributable to owners of the parent of ¥1,415,356 thousand (down 25.8%). The year-on-year decrease in operating income is attributable to the fac t that, in the previous consolidated fiscal year Pinnacle Inc. — which became a consolidated subsidiary in March 2024— had M&A dea l closings concentrated in the first half, which boosted results and caused operating income to be recognized disproportionate ly in the interim period (previous full-year operating profit was ¥4,132,677 thousand and previous interim operating profit was ¥2,897,282 thous and — 70.1% of the full-year operating profit was recorded in the interim period). For the current interim consolidated cumulative period, the progress rate of operating profit against the full-year forecast was 55.0%, reflecting solid performance. The results for the interim consolidated accounting period, year-on-year com parisons and the full-year forecasts are shown in the table below. ͤThe results for the interim consolidated accounting period and full-year forecasts (Unit: thousand yen) Results for the current interim accounting period Results for the previous interim accounting period Year-on-year comparison Full-year performance forecast Progress rate to the full-year performance forecasts Results for the full-year of the previous period Amount change Percentage change Net sales 13,367,944 12,422,596 +945,348 +7.6 㸣 26,000,000 51.4㸣 22,761,078 Gross profit 9,816,697 10,224,854 /g486408,157 /g4863.9 㸣 19,600,000 50.0㸣 19,423,533 Operating profit 2,090,315 2,897,282 /g486806,967 /g48627.8㸣 3,800,000 55.0㸣 4,132,677 Ordinary profit 2,037,750 2,827,341 /g486789,590 /g48627.9㸣 3,700,000 55.0㸣 4,099,798 Profit attributable to owners of the parent 1,415,356 1,908,671 /g486493,314 /g48625.8㸣 2,750,000 51.4㸣 2,882,297 The following is an overview of individual segment results. Consulting Business For the interim consolidated accounting period, the Consulting Business reported net sales of ¥9,647,846 thousand (down 4.9% yearonyear), gross profit of ¥8,680,329 thousand (down 4.4%), and operating income of ¥1,107, 863 thousand (down 41.2%), resulting in decreases in both revenue and profit. The year-on-year decrease in operating income is attributable to the fact that, in the previous consolidated fiscal year Pinnacle Inc. — which became a consolidated subsidiary in March 2024— had M&A deal closings concentrated in the first half, and to an increase in selling, general and administrative expenses — prin cipally higher personnel costs — which rose ¥376,882 thousand year-onyear-. In the current interim period, the business succession consulting and real estate consulting businesses remained healthy, and consultations and project orders in management consulting and M&A advisory continued to be solid. The progress rate of interim operating profit against the full-year forecast was 37.8%, given the steady order situation across the consulting businesses, we expect to achieve the full-year forecast. 㻟
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/g4149 Results for the interim consolidated accounting period and full-year forecasts for the Consulting Business (Unit: thousand yen) Results for the current interim accounting period Results for the previous interim accounting period Year-on-year comparison Full-year performance forecast Progress rate to the full-year performance forecasts Results for the full-year of the previous period Amount change Percentage change Net sales 9,647,846 10,147,082 /g486499,236 /g4864.9 㸣 20,800,000 46.3㸣 20,355,559 Gross profit 8,680,329 9,082,505 /g486402,175 /g4864.4 㸣 18,430,000 47.0㸣 18,187,587 Operating profit 1,107,863 1,886,922 /g486779,058 /g48641.2㸣 2,930,000 37.8㸣 3,177,147 Reference: Consulting Business sales and gross profit by business area (Unit: million yen) Business area Results for the current interim accounting period Results for the previous interim accounting period Year-on-year comparison (Percentage change) Management consulting Net sales 3,835 3,934 -2.5㸣 Gross profit 3,481 3,549 -1.9㸣 M&A Advisory service Net sales 4,220 4,872 -13.3㸣 Gross profit 3,846 4,398 -12.5㸣 Number of deals closed* 44 56 -12 Business succession consulting Net sales 924 879 +5.1 㸣 Gross profit 843 795 +6.0 㸣 Real estate consulting Net sales 667 460 +44.9 㸣 Gross profit 509 339 +50.0 㸣 Total Net sales 9,647 10,147 -4.9㸣 Gross profit 8,680 9,082 -4.4㸣 *For brokerage transactions in M&A Advisory Services, each transaction is counted as one when calculating the number of deals closed. Investment Business For the interim consolidated accounting period, the Investment Business re ported net sales of ¥3,742,285 thousand (up 64.1% year-on-year), gross profit of ¥1,138,830 thousand (down 0.3%), and operating income of ¥984,913 thousand (down 2.5%). Performance was strong due to sales of investee shares in the unlisted equi ty investment business and sales of investment properties in the real estate investment business, and the progress rate of operating profit against the full-year forecast was 113.2%, indicating favorable performance. ͤInvestment balances as of September 30, 2025: Balance of investment securities in the unlisted equity investment business: ¥7,365,431 thousand Balance of real estate investments in the real estate investment business: ¥1,530,428 thousand 㻠
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ͤResults for the interim consolidated accounting period and full-year forecasts for the Investment Business. (Unit: thousand yen) Results for the current interim accounting period Results for the previous interim accounting period Year-on-year comparison Full-year performance forecast Progress rate to the full-year performance forecasts Results for the full-year of the previous period Amount change Percentage change Net sales 3,742,285 2,279,786 +1,462,498 +64.1 㸣 5,200,000 71.9㸣 2,410,351 Gross profit 1,138,830 1,142,349 -3,518 -0.3 㸣 1,170,000 97.3㸣 1,234,229 Operating profit 984,913 1,010,359 -25,446 -2.5 㸣 870,000 113.2㸣 953,813 Employees Number of employees on a consolidated basis (Unit: person) As of March 31, 2025 As of September 30, 2025 General consultants 656 705 Expert consultants 214 229 Corporate staff 197 210 Total 1,067 1,144 (Note) Excludes officers, advisors, and employees on secondment from outside; includes temporary employees. New hires and departures (Unit: person) Fiscal Year Ended March 2025 Interim period of the fiscal year ending March 2026 Parent company and domestic subsidiaries Overseas Subsidiaries Total New graduate hires 21 29 㸫 29 Mid-career hires 157 79 32 111 Departures 121 36 27 63 (Note) Excludes officers, advisors, and employees on secondment from outside; includes temporary employees. (2) Overview of Financial position for the current interim consolidated accounting period Cash flow Cash and cash equivalents for the interim consolidated accounting period (herei nafter referred to as “funds”) increased by ¥473,977 thousand from operating activities, decreased by ¥737,389 thousand from investing a ctivities, and increased by ¥1,656,322 thousand from financing activities, resulting in an overall incre ase in funds of ¥1,386,488 thousand (compared with a decrease of ¥877,052 thousand year-on-year). As a result, the balance of funds at the end of the interim consolidated accounting period was ¥10,256,926 thousand. The details of the cash flows during the interim consolidated accounting period, along with the contributing factors, are as follows. Cash Flows from Operating activities The net increase in funds from operating activities during the current int erim consolidated accounting period amounted to ¥473,977 thousand (a decrease of ¥406,759 thousand in the same period of the previous year). This was attributable to cash outflows such as an increase in i nvestment securities for operating purposes of ¥487,253 thousand (mainly due to equity investments executed in the unlisted equity inves tment business), an increase in inventories of ¥137,374 thousand (mainly investments in property for sale in the real estate investment business), payments of corporate taxes of ¥710,382 㻡
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thousand, and a decrease in other liabilities of ¥932,684 thousand, while at the same time there were cash inflows such as interim profit before income taxes of ¥2,037,750 thousand, a decrease in trade receivables of ¥309,298 thousand, and a decrease in other assets of ¥311,068 thousand. Cash Flows from Investing activities The net decrease in funds from investing activities during the current interim consolidated accounting period amounted to ¥737,389 thousand (a net decrease of ¥652,589 thousand in the same period of the previous year). This was due to cash outflows including payments of ¥473,001 thousand for security and guarantee deposits, ¥210, 078 thousand for the acquisition of investment securities, and ¥50,780 thousand for the acquisition of tangible fixed assets, among other factors. Cash Flows from Financing activities The net increase in funds from financing activities during the current int erim consolidated accounting period amounted to ¥1,656,322 thousand (a net increase of ¥190,626 thousand in the same period of the previous year). This was due to cash outflows such as dividend payments of ¥744,860 thousand, while there were cash inflows such as an increase in short-term borrowings of ¥2,392,000 thousand, among other factors. 㻢
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(3) Outlook: Explanation of consolidated earnings forecast and other forward-looking information Operating profit totaled ¥2,090,315 thousand for the six months ended September 30, 2025, representing 55.0% of the full-year projection. We will continue focusing on the following priority areas to drive performance in each business. /g374Key focus areas by segment a. Consulting Business segment Management Consulting Business /g120 Consulting services offering integrated and consistent support across management, IT, and HR strategies to promote the sustainable growth of mid-sized companies /g120 Business revitalization consulting that goes beyond financial restructuring, providing hands-on support to clients in enhancing profitability and driving organizational transformation /g120 International growth strategy support that assists clients in expanding overseas by seamlessly integrating activities in Japan and abroad—fr om strategy development to validation and execution based on research conducted by local staff in each target country M&A Advisory Services Business /g120 Provision of end-to-end M&A services, from pre-investment due diligence to the formulation of post-investment growth strategies /g120 Financial advisory support for transactions requiring highly specialized expertise, including public-to-private deals and private equity fund investments Business Succession Consulting Business /g120 Business succession support for clients (SMEs and mid-sized and listed companies) provided by specialists in accounting, finance, tax, and business operations /g120 Asset management support that addresses a wide range of clients’ asset utilization needs b. Investment Business segment Private Equity Investment Business /g120 Support for sustainable corporate growth and resolution of capital policy issues by providing financial solutions in combination with various consulting services /g120 Contribution to the enhancement of corporate value through regular monitoring of portfolio companies and the use of management consulting functions Real Estate Investment Business /g120 Identifying new investment opportunities involving low-liquidity properties, such as land with leasehold rights /g120 Enhancing value-added and strengthening exit strategies by resolving rights-related issues associated with investment properties 㻣
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Semi-annual consolidated balance sheet (Thousands of yen) As of March 31, 2025 As of September 30, 2025 Assets Current assets Cash and deposits 9,147,114 10,523,374 Accounts receivable - trade 1,569,274 1,259,975 Securities 37,133 45,328 Operational investment securities 7,004,398 7,491,651 Merchandise and finished goods 1,415,048 1,552,422 Other 989,755 871,282 Allowance for doubtful accounts (14,231) (18,782) Total current assets 20,148,493 21,725,252 Non-current assets Property, plant and equipment 527,535 631,584 Intangible assets Goodwill 633,748 575,427 Other 28,972 24,126 Total intangible assets 662,720 599,554 Investments and other assets Investment securities 562,609 776,680 Leasehold and guarantee deposits 738,119 1,197,072 Deferred tax assets 404,878 98,536 Other 426,171 397,272 Total investments and other assets 2,131,778 2,469,561 Total non -current assets 3,322,034 3,700,700 Total assets 23,470,528 25,425,952 㻤
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(Thousands of yen) As of March 31, 2025 As of September 30, 2025 Liabilities Current liabilities Accounts payable - trade 311,193 281,998 Short -term borrowings 1,600,000 3,992,000 Accrued expenses 1,480,082 582,172 Income taxes payable 488,473 406,050 Provision for bonuses 65,000 - Provision for bonuses for directors (and other officers) 60,000 - Other 769,597 745,753 Total current liabilities 4,774,347 6,007,974 Non-current liabilities Retirement benefit liability 43,853 43,769 Deferred tax liabilities 35,326 37,856 Other 36,974 36,605 Total non -current liabilities 116,153 118,232 Total liabilities 4,890,500 6,126,207 Net assets Shareholders' equity Share capital 1,599,538 1,599,538 Capital surplus 1,588,838 1,613,942 Retained earnings 14,978,175 15,648,671 Treasury shares (466,417) (452,166) Total shareholders' equity 17,700,134 18,409,985 Accumulated other comprehensive income Valuation difference on available -for -sale securities 21,590 26,741 Foreign currency translation adjustment 313,425 304,741 Total accumulated other comprehensive income 335,016 331,483 Share acquisition rights 4,991 6,278 Non -controlling interests 539,886 551,997 Total net assets 18,580,027 19,299,745 Total liabilities and net assets 23,470,528 25,425,952 㻥
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Semi-annual consolidated statement of income (Thousands of yen) Six months ended September 30, 2024 Six months ended September 30, 2025 Net sales 12,422,596 13,367,944 Cost of sales 2,197,741 3,551,247 Gross profit 10,224,854 9,816,697 Selling, general and administrative expenses 7,327,572 7,726,382 Operating profit 2,897,282 2,090,315 Non-operating income Interest income 22,466 17,711 Gain on sale of investment securities 14,778 - Gain on reversal of share acquisition rights 1,605 - Other 11,266 17,343 Total non -operating income 50,117 35,054 Non-operating expenses Interest expenses 7,262 14,114 Loss on investments in investment partnerships 5,398 6,225 Foreign exchange losses 74,415 28,279 Commission expenses 10,890 36,096 Other 22,090 2,902 Total non -operating expenses 120,057 87,619 Ordinary profit 2,827,341 2,037,750 Profit before income taxes 2,827,341 2,037,750 Income taxes - current 586,599 320,318 Income taxes - deferred 226,750 305,782 Total income taxes 813,349 626,100 Profit 2,013,991 1,411,650 Profit (loss) attributable to non -controlling interests 105,320 (3,706) Profit attributable to owners of parent 1,908,671 1,415,356 㻝㻜
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Semi-annual consolidated statement of comprehensive income (Thousands of yen) Six months ended September 30, 2024 Six months ended September 30, 2025 Profit 2,013,991 1,411,650 Other comprehensive income Valuation difference on available -for -sale securities (25,888) 5,151 Foreign currency translation adjustment (22,680) 35 Total other comprehensive income (48,569) 5,186 Comprehensive income 1,965,422 1,416,836 Comprehensive income attributable to Comprehensive income attributable to owners of parent 1,851,617 1,411,824 Comprehensive income attributable to non -controlling interests 113,804 5,012 㻝㻝
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Semi-annual consolidated statement of cash flows (Thousands of yen) Six months ended September 30, 2024 Six months ended September 30, 2025 Cash flows from operating activities Profit before income taxes 2,827,341 2,037,750 Depreciation 88,785 81,913 Amortization of goodwill 56,851 54,814 Increase (decrease) in provision for bonuses 77,496 (65,000) Interest and dividend income (22,466) (17,711) Interest expenses 7,262 14,114 Foreign exchange losses (gains) 74,415 28,279 Loss (gain) on investments in investment partnerships 5,398 6,225 Decrease (increase) in operational investment securities (1,910,019) (487,253) Decrease (increase) in trade receivables 181,094 309,298 Increase (decrease) in allowance for doubtful accounts (170) 4,551 Decrease (increase) in inventories (402,117) (137,374) Increase (decrease) in trade payables (130,307) (29,194) Decrease (increase) in other assets 1,293,714 311,068 Increase (decrease) in other liabilities (1,325,623) (932,684) Subtotal 821,656 1,178,799 Interest and dividends received 22,537 17,504 Interest paid (4,925) (11,944) Income taxes paid (1,246,027) (710,382) Net cash provided by (used in) operating activities (406,759) 473,977 Cash flows from investing activities Purchase of property, plant and equipment (79,223) (50,780) Proceeds from sale of property, plant and equipment 109,071 - Purchase of intangible assets (451) (5,760) Purchase of investment securities (10,120) (210,078) Proceeds from sale of investment securities 285,251 - Purchase of shares of subsidiaries resulting in change in scope of consolidation (841,779) - Payments of leasehold and guarantee deposits (113,295) (473,001) Proceeds from refund of leasehold and guarantee deposits 108 1,271 Other, net (2,150) 959 Net cash provided by (used in) investing activities (652,589) (737,389) Cash flows from financing activities Increase (decrease) in short -term borrowings 1,000,000 2,392,000 Proceeds from received an investment to non -controlling shareholders 14,415 13,345 the amount of payment of the dividend to non -controlling shareholders (14,572) (6,246) Proceeds from disposal of treasury shares 10,416 2,083 Dividends paid (819,627) (744,860) Other, net (4) - Net cash provided by (used in) financing activities 190,626 1,656,322 Effect of exchange rate change on cash and cash equivalents (8,330) (6,421) Net increase (decrease) in cash and cash equivalents (877,052) 1,386,488 Cash and cash equivalents at beginning of period 9,687,844 8,870,438 Cash and cash equivalents at end of period 8,810,792 10,256,926 㻝㻞
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(Notes on segment information, etc.) Segment Information I. Previous interim consolidated accounting period (April 1, 2024 to September 30, 2024) 1. Information on sales and the amount of profit or loss for each reported segment (Thousands of yen) Reportable segments Total Consulting for Business Investment Sales Revenues from external customers 10,142,810 2,279,786 12,422,596 Transactions with other segments 4,272 - 4,272 Total 10,147,082 2,279,786 12,426,869 Segment Profit 1,886,922 1,010,359 2,897,282 2. The difference between the total amount of profit in the reporting segment and the amount recorded in the interim consolidated statement of income and the main details of the difference (matters related to adjustment of differences) The total amount of profit in the reported segment matches the operating profit in the interim consolidated statements of income. 3. Information on Goodwill, etc. by Reporting Segment (Significant fluctuations in the amount of goodwill) During the interim consolidated accounting period, Yamada Consulting Group USA Inc., a subsidiary of the Company, acquired all shares of Takenaka Partners and included the company in the scope of consolidation. As a result of this event, goodwill of US$4,752 thousand (¥701,288 thousand) was incurred in the Consulting Business segment. II. Interim Consolidated Accounting Period (April 1, 2025 to September 30, 2025) 1. Information on sales and the amount of profit or loss for each reported segment (Thousands of yen) Reportable segments Total Consulting for Business Investment Sales Revenues from external customers 9,625,659 3,742,285 13,367,944 Transactions with other segments 22,186 - 22,186 Total 9,647,846 3,742,285 13,390,131 Segment Profit 1,107,863 984,913 2,092,777 2. The difference between the total amount of profit in the reporting segment and the amount recorded in the interim consolidated statement of income and the main details of the difference (matters related to adjustment of differences) benefit amount of money Total Reporting Segments 2,092,777 Adjustment for unrealized profit (2,462) Operating income in the interim consolidated statement of income 2,090,315 㻝㻟