S T : FY2024 Q1（191.2KB）

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

August 7, 2023

	Consolidated Financial Results
	for the Three Months Ended June 30, 2023
	(Under Japanese GAAP)
Company name:	S.T. CORPORATION
Listing:	Tokyo Stock Exchange
Securities code:	4951
URL:	https://www.st-c.co.jp/
Representative:	Yo Kouzuki, Representative Executive Officer, President, COO
Inquiries:	Kouichi Yoshizawa, Executive Officer
Telephone:	[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: Yes
Holding of quarterly financial results briefing:	None

(Yen amounts are rounded down to millions, unless otherwise noted.)

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
Three months ended	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%
June 30, 2023	9,747		(7.4)	101	(47.4)	449	46.2	271	79.5
June 30, 2022	10,521		(2.3)	192	(79.4)	307	(70.2)	151	(77.9)

Note:	Comprehensive income	For the three months ended June 30, 2023:	¥462 million	[162.2%]
			For the three months ended June 30, 2022:	¥176 million	[(66.7)%]
		Basic earnings per share	Diluted earnings per
		share
Three months ended		Yen	Yen
June 30, 2023		12.20	-
June 30, 2022		6.80	-
Note:	Diluted earnings per share are not given since there are no dilutive shares.

(2) Consolidated financial position

	Total assets	Net assets
As of	Millions of yen	Millions of yen
June 30, 2023	44,667	32,973
March 31, 2023	46,116	32,961
Reference: Equity
As of June 30, 2023:	¥32,371 million
As of March 31, 2023:	¥32,390 million

Equity ratio

%

72.5

70.2

Net assets per share

Yen

1,455.52

1,456.38

2. Cash dividends

				Annual dividends
	First quarter-end	Second quarter-end		Third quarter-end		Fiscal year-end	Total
	Yen	Yen		Yen		Yen	Yen
Fiscal year ended	-	20.00		-	20.00		40.00
March 31, 2023
Fiscal year ending	-
March 31, 2024
Fiscal year ending		21.00		-	21.00		42.00
March 31, 2024
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated earnings forecasts for the fiscal 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	Basic earnings
				owners of parent	per share
		Millions of yen		%	Millions of yen	%	Millions of yen		%	Millions of yen	%	Yen
	Six months ending	23,700		1.1	1,650	0.0	1,850		0.2	1,250	2.6	56.20
	September 30, 2023
	Fiscal year ending	46,350		1.7	2,450	1.4	2,800		2.5	1,900	3.9	85.43
	March 31, 2024
Note: Revisions to the earnings forecasts most recently announced: None

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None

Newly included:	- companies
Excluded:	- companies

1. Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes
2. Changes in accounting policies, changes in accounting estimates, and restatement
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
4. Number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2023	23,000,000 shares
As of March 31, 2023	23,000,000 shares

(ii) Number of treasury shares at the end of the period

As of June 30, 2023	759,304 shares
As of March 31, 2023	759,210 shares

(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2023	22,240,758 shares
Three months ended June 30, 2022	22,240,863 shares

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters Caution regarding forward-lookingstatements and others
  The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, the statements herein do not constitute assurances regarding the Company's actual results. Actual financial and other results may differ substantially from the statements herein due to various factors. Please refer to "(3) Explanation of consolidated earnings forecasts and other forward-looking statements" of "1. Qualitative information on quarterly consolidated financial results" on page 3 of the attached materials for the suppositions that form the assumptions for the earnings forecasts and cautions regarding the use of the earnings forecasts.
  Method of obtaining the supplementary material on quarterly financial results
  We intend to post the supplementary material on quarterly financial results to the "Investors" page of our corporate website soon after the announcement of the financial results for the three months ended June 30, 2023, on Monday, August 7, 2023.

S.T. CORPORATION (4951)

• Attached Material Index

1. Qualitative information on quarterly consolidated financial results	2
(1)	Explanation of operating results	2
(2)	Explanation of financial position	3
(3)	Explanation of consolidated earnings forecasts and other forward-looking statements	3
2. Quarterly consolidated financial statements and significant notes thereto	4
(1)	Quarterly consolidated balance sheet	4
(2)	Quarterly consolidated statement of income and quarterly consolidated statement of
	comprehensive income	6
	Quarterly consolidated statement of income (cumulative)	6
	Quarterly consolidated statement of comprehensive income (cumulative)	7
(3)	Notes to quarterly consolidated financial statements	8
	Notes on going concern assumption	8
	Notes when there are significant changes in amounts of shareholders' equity	8
	Application of specific accounting for preparing the quarterly consolidated financial statements	8
	Segment information	8

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S.T. CORPORATION (4951)

1. Qualitative information on quarterly consolidated financial results

1. Explanation of operating results
   During the three months ended June 30, 2023, the Japanese economy showed signs of recovery as restrictions on movement within Japan due to the novel coronavirus disease (COVID-19) were lifted and economic and social activities started to normalize. On the other hand, a sense of uncertainty about the future persists due to factors including geopolitical risks from the prolonged situation in Russia and Ukraine, and inflation concerns from rising raw material and energy prices.
   Under these conditions, the Group is working on "focusing on existing core business to increase profits," "countermeasures to soaring material costs," "continuous investment towards domains for growth," and "creating a base to survive periods of ESG" in order to enable sustainable growth under brand value management.
   For the three months ended June 30, 2023, the Group's net sales amounted to 9,747 million yen (down 7.4% year on year) due to declines in main categories such as Air Care and Cloth Care.
   As for profit, although selling, general and administrative expenses decreased due to price hikes in major product categories and curbs on marketing expenses, operating profit amounted to 101 million yen (down 47.4% year on year) due to a rise in the cost of sales ratio accompanying higher raw material prices, ordinary profit amounted to 449 million yen (up 46.2% year on year) due to insurance claim income, and profit attributable to owners of parent amounted to 271 million yen (up 79.5% year on year) due to the absence of loss on disaster that occurred in the previous fiscal year.
   Given that the Group operates a single segment of the daily necessities business, operating results by business category are as follows.
   In the Air Care (Air Fresheners and Deodorizers) category, we have been engaging in efforts that involve strengthening high-value added products and working to develop the overseas e-commerce business. Although sales of the Shoshu-Riki Premium Aroma Stick with an environmentally friendly water-based formula, which was added to the lineup, contributed to sales, sales of the Shoshu-Riki DEOX series declined and the Dashu- Tan series for refrigerator declined due to a slowdown in domestic food demand. Therefore, net sales were 4,761 million yen (down 5.6% year on year).
   In the Cloth Care (Mothproofing Agents) category, we are focusing on hanging storage types in line with changes in storage styles and efforts to expand sales of large-volume types. Sales of existing core products, including Mushuda for Closets, Mushuda for Drawers and Clothes Cases, and Neopara Ace, declined due to bringing forward the changeover season this spring due to increased opportunities to go out, resulting in net sales of 1,563 million yen (down 15.3% year on year).
   For the Thermal Care (Disposable Warmers) category, this is the time of year when there are a lot of end-of season returns, but because returns were less than expected, net sales were 188 million yen (up 19.8% year on year).
   In the Hand Care (Household Gloves) category, we worked to expand sales of gloves for professional use, which are highly valued for their functionality. Sales of Family Vinyl Thin Gloves with antiviral finger tips and gloves for overseas markets declined, as demand for these gloves from heightened hygiene awareness slowed down, and net sales were 1,132 million yen (down 15.3% year on year).
   In the Dehumidity Care (Dehumidifiers) category, we moved forward with a shift toward high value-added products by strengthening sales of the Bincho-tan series and Dry Pet Clear products. Despite a decline in sales volume, price increases for tank-type products contributed to net sales of 972 million yen (up 1.1% year on year).
   In the Home Care (Others) category, we have been aggressively promoting efforts to expand sales of pet care products, as well as developing the Senjo-Riki and Kome-Touban brands. Although sales of ST Pet grew, sales of Senjo-RikiOhisamano-Sentaku shoe cleaner and Shinsen-Ban, which was launched in the previous fiscal year, declined, resulting in net sales of 1,129 million yen (down 3.8% year on year).
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