Hoya : Quarterly Report for the three months ended Mar.31,2024 (565KB)

May 15,2024

Quarterly Report

4th Quarter : 3 months ended March 31,2024 Annual : Fiscal year ended March 31,2024

Consolidated (HOYA CORPORATION and Consolidated Subsidiaries)

Part .1

4th Quarter : from January 1 to March 31,2024

1. Quarterly Consolidated Financial Highlights : p.1
2. Results of Operations : p.2
3. Subsequent events : p.3
4. Quarterly Consolidated Financial Statements
5. 1. Quarterly Consolidated Statement of Financial Position : p.4
   2. Quarterly Consolidated Statement of Cash Flows : p.6
   3. Quarterly Consolidated Statement of Comprehensive Income : p.7
   4. Segment Information : p.8

＜Reference＞Supplementary data for 4th Quarter : p.11

Part .2

Annual : from April 1, 2023 to March 31,2024

1. Consolidated Financial Highlights : p.12
2. Consolidated Financial Statements
3. 1. Consolidated Statement of Financial Position : p.13
   2. Consolidated Statement of Cash Flows : p.15
   3. Consolidated Statement of Comprehensive Income : p.16
   4. Segment Information : p.17

Supplementary data for Full year : p.20

Notes:

1. HOYA's fiscal year (FY) : from April 1 to March 31 of the following year.
2. These financial statements are excerpt translation of Japanese "Kessan Tanshin "and have been prepared for the references only of foreign investors.

HOYA CORPORATION

This report is provided solely for the information of professional analysts who are expected to make their own evaluation of the company. This report contains forward-looking statements that are based on management's assumptions and beliefs in light of the information currently available to it and therefore you should not place undue reliance on them.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from that anticipated in these statements. These factors include changes in economic conditions, trends in our major markets, currency exchange rates, etc.

We accept no liability whatsoever for any direct or consequential loss arising from any use of this report.

Part.1

May 15,2024

1. Quarterly Consolidated Financial Highlights

HOYA CORPORATION and Consolidated Subsidiaries

1. Performance for the three months ended March 31, 2023 and 2024 (All operations *Notes)

( The yen amounts shown therein are rounded off to the nearest million.)

	Three months ended	Variance
(1)Revenue and Profit before tax	Mar.31,2023	Mar.31,2024	(%)
Revenue	185,766	196,823	6.0
Profit before tax	53,997	72,093	33.5
Ratio of profit before tax(%)	29.1%	36.6%
Profit for the quarter	42,532	57,477	35.1
Ratio of profit for the quarter(%)	22.9%	29.2%
Profit attributable to owners of the Company	42,553	57,090	34.2
Ratio of profit attributable to owners of the Company(%)	22.9%	29.0%
Basic earnings per share (yen)	119.66	162.87
Diluted earnings per share (yen)	119.60	162.81
		As of
(2)Financial Position	Dec.31,2023	Mar.31,2024
Total assets	1,101,049	1,203,623
Total equity	874,360	962,264
Equity attributable to owners of the Company	880,846	967,758
Ratio of assets attributable to owners of the Company	80.0%	80.4%
Assets attributable to owners of the Company per share (yen)	2,512.99	2,760.91
	Three months ended
(3) Conditions of Cash Flows	Mar.31,2023	Mar.31,2024
Net cash generated from operating activities	47,897	65,931
Net cash used in investing activities	-4,894	-12,949
Free cash flow	43,004	52,983
Net cash provided by (used in ) financing activities	-36,500	-1,638
Cash and cash equivalents at end of period	405,888	525,162

2.Dividends per Share

	Year ended
	Mar.31,2023	Mar.31,2024
Interim (Yen)	45.00	45.00
Year-end (Yen)	65.00	65.00
Annual (Yen)	110.00	110.00

3.Other

	Three months ended
	Mar.31,2023	Mar.31,2024
Capital expenditure	12,704	17,789
R&D expenses	7,535	8,744

Notes:

"All operations" means here that the figures are including not only "Continuing operations" but also "Discontinued operations".

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from that anticipated in these statements. These factors include changes in economic conditions, trends in our major markets, or currency exchange rates.

-1-

2. Results of Operations

Qualitative Information on Quarterly Financial Results

(1)General Overview

Our operating results for the fourth quarter of the consolidated fiscal year under review (three months from January 1 to March 31, 2024) are as follows. The Life Care business was performing well despite deteriorating external environment. In addition, foreign currency translation also contributed to both revenue and profits increase compared to the previous year. Profit before tax increased significantly due to foreign exchange gains resulting from the further depreciation of yen during the quarter.

(Millions of yen)	Three months ended	Variance
Mar.31,2023	Mar.31,2024	(%)
Revenue	185,766	196,823	6.0
Profit before tax	53,997	72,093	33.5
Profit for the quarter	42,532	57,477	35.1
Ratio of profit for the quarter	22.9%	29.2%	6.3pt

As there were no discontinued operations in both the third quarter and the same period of the consolidated fiscal year, all figures and rates of change display are solely from continuing operations.

(2)Segment Overview

Results by reportable segment are as follows. (Revenue for each segment is from external customers.)

① Life Care Business
(Millions of yen)	Three months ended	Variance
Mar.31,2023	Mar.31,2024	(%)
Revenue	124,966	137,027	9.7
Segment profit before tax	24,466	39,151	60.0

Sales of eyeglass lenses increased as a result of an increase in sales of high value-added products such as progressive lenses and photochromic lenses, despite the fact that sales declined in China due to the recession.

Sales of contact lenses increased due to strong sales of private brand products (hoyaONE) and online services. In addition, unit prices per customer increased steadily through offering high value-added products.

Sales of medical endoscopes increased mainly due to strong sales performance in Americas and foreign exchange tailwinds. On the other hand, sales in China dropped dramatically due to the anti- corruption campaign and the volume-based procurement.

Sales of intraocular lenses for cataracts increased although unit prices fell in China due to the volume- based procurement and there were temporary supply system disruptions in Europe.

In other medical-related products, sales increased due to continued strong customer demand for endoscope cleaning equipment and surgical instruments.

-2-

②Information Technology Business
(Millions of yen)	Three months ended	Variance
Mar.31,2023	Mar.31,2024	(%)
Revenue	59,607	58,737	-1.5
Segment profit before tax	28,785	31,398	9.1

Sales of mask blanks for semiconductors increased thanks to the gradual recovery from the inventory adjustment for EUV mask blanks. The recovery of demand is progressing moderately as expected. Sales of photomasks for FPD decreased due to a decline in our production capacity against a backdrop of equipment replacements and other factors.

Sales of HDD substrates decreased due to a significant rebound increase from the inventory adjustment in the same period of the previous year. However, sales of 3.5" substrates were strong due to the completion of near-line HDD inventory adjustment at the end of last calendar year.

Sales of imaging products increased due to the firm sales of interchangeable lenses for mirrorless cameras and lenses for automated driving systems.

③Other
(Millions of yen)	Three months ended	Variance
Mar.31,2023	Mar.31,2024	(%)
Revenue	1,193	1,059	-11.2
Segment profit before tax	220	110	-50.0

Both revenue and segment profit before tax of the others segment decreased due to the sale of business.

3. Subsequent events

Resolution on repurchase of Treasury Stock

On May 15, 2024, the Board of Directors of the Company resolved to repurchase certain shares held as treasury stock pursuant to Article 459.1 of the Companies Act of Japan.

The Company decided to acquire its own shares with the aim of shareholders' benefit, improving capital efficiency and ensuring a flexible capital policy.

(1)	Class of shares to be repurchased	Common stock
(2)	Number of shares to be repurchased	3,000,000 shares (maximum)
(3)	Total amount to be paid for repurchase	50,000 million yen (maximum)
(4)	Period of share repurchase	May 16, 2024 through August 15, 2024
(5)	Method of repurchase	Purchase on the Tokyo Stock Exchange based on discretionary
		investment contract
(6)	Others	Purchased stocks are planned to be cancelled with the aim of
		shareholders' benefit.

-3-

4.Quarterly Consolidated Financial Statements

(1) Quarterly Consolidated Statement of Financial Position

(HOYA Corporation and its subsidiaries)							(Millions of Yen)
	As of Dec.31,2023	As of Mar.31,2024	Variance		As of Mar.31,2023
	Amount	(%)	Amount	(%)	Amount	(%)	Amount	(%)
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment-net	185,736		198,225		12,489		178,648
Goodwill	49,790		52,742		2,952		46,818
Intangible assets	33,545		34,042		497		35,732
Investments in associates	1,340		1,487		147		971
Long-term financial assets	45,911		48,401		2,490		45,303
Other non-current assets	555		463		-93		747
Deferred tax assets	11,154		11,628		475		9,953
Total non-current assets	328,031	29.8	346,988	28.8	18,957	5.8	318,171	30.9
CURRENT ASSETS
Inventories	115,782		119,076		3,294		105,150
Trade and other receivables	146,701		152,606		5,905		143,194
Other short-term financial assets	19,583		19,237		-346		20,379
Income tax receivables	6,443		4,298		-2,145		3,798
Other current assets	33,646		35,973		2,327		30,622
Cash and cash equivalents	450,548		525,162		74,614		405,888
Sub total	772,704		856,352		83,648		709,031
Assets held for sale	314		282		-32		1,124
Total current assets	773,018	70.2	856,635	71.2	83,616	10.8	710,155	69.1
Total assets	1,101,049	100.0	1,203,623	100.0	102,574	9.3	1,028,326	100.0

-4-

							(Millions of Yen)
	As of Dec.31,2023	As of Mar.31,2024	Variance	As of Mar.31,2023
	Amount	(%)	Amount	(%)	Amount	(%)	Amount	(%)
EQUITY AND LIABILITIES
EQUITY
Share capital	6,264		6,264		－		6,264
Capital reserves	15,899		15,899		－		15,899
Treasury shares	-6,954		-6,874		80		-41,374
Other capital reserves	-16,973		-17,009		-36		-12,800
Retained earnings	748,934		805,997		57,063		752,999
Accumulated other comprehensive	133,676		163,482		29,805		97,334
income/(loss)
Equity attributable to owners of the	880,846	80.0	967,758	80.4	86,912	9.9	818,321	79.6
Company
Non-controlling interests	-6,485		-5,494		991		-3,717
Total equity	874,360	79.4	962,264	79.9	87,903	10.1	814,604	79.2
LIABILITIES
NON-CURRENT LIABILITIES
Interest-bearinglong-term debt	17,637		20,590		2,954		15,997
Other long-term financial liabilities	22,987		24,801		1,813		21,523
Retirement benefits liabilities	4,461		4,315		-146		4,028
Provisions	3,240		3,265		25		3,153
Other non-current liabilities	5,023		6,034		1,011		2,820
Deferred tax liabilities	13,586		13,382		-203		10,102
Total non-current liabilities	66,933	6.1	72,387	6.0	5,454	8.1	57,623	5.6
CURRENT LIABILITIES
Interest-bearingshort-term debt	8,315		8,649		334		8,585
Trade and other payables	66,915		67,771		856		64,621
Other short-term financial liabilities	154		143		-11		264
Income tax payables	14,291		23,349		9,058		21,546
Provisions	1,613		1,705		91		1,558
Other current liabilities	68,361		67,291		-1,070		59,394
Sub total	159,650		168,909		9,259		155,967
Liabilities held for sale	106		64		-42		132
Total current liabilities	159,756	14.5	168,972	14.0	9,216	5.8	156,099	15.2
Total liabilities	226,689	20.6	241,359	20.1	14,670	6.5	213,722	20.8
Total equity and liabilities	1,101,049	100.0	1,203,623	100.0	102,574	9.3	1,028,326	100.0
Total number of issued shares	350,516		350,521		5		353,988
in thousand
Equity attributable to owner of the
Company per share	2,512.99	Yen	2,760.91	Yen	247.92	Yen	2,311.72	Yen

-5-

(2)Quarterly Consolidated Statement of Cash Flows

(HOYA Corporation and its subsidiaries)				(Millions of Yen)
	For the three months		For the three
	Variance	months
	ended
			ended
	Mar.31,2023	Mar.31,2024		Dec.31,2023
Cash flows from operating activities
Profit before tax	53,997	72,093	18,096	49,689
Depreciation and amortization	12,777	11,596	-1,182	11,410
Impairment losses	524	－	-524	879
Finance income	-2,890	-4,692	-1,803	-4,410
Finance costs	544	472	-72	448
Share of (profits)/loss of associates	-38	-93	-55	-67
(Gain)/loss on sales of property, plant and equipment	-86	-384	-298	-884
Loss on disposal of property, plant and equipment	67	127	60	71
Foreign exchange (gain)/loss	488	-8,318	-8,806	9,055
Others	-1,287	-5,482	-4,194	3,584
Net cash generated from operating activities	64,095	65,318	1,223	69,775
（Before adjustment of movements in working capital)
Movements in working capital
Decrease/(increase) in inventories	2,965	994	-1,971	-2,601
Decrease/(increase) in trade and other receivables	-17,806	-1,103	16,703	-9,697
Increase/(decrease) in trade and other payables	313	2,030	1,718	1,532
Increase/(decrease) in retirement benefits liabilities and provisions	-404	-376	28	-202
Sub total	49,163	66,863	17,700	58,807
Interests received	2,498	3,315	817	3,514
Dividends received	53	5	-48	103
Interests paid	-275	-250	25	-178
Income taxes paid	-3,684	-4,164	-480	-20,052
Income taxes refunded	142	163	21	354
Net cash generated from operating activities	47,897	65,931	18,034	42,548
Cash flows from investing activities
Withdrawals of time deposit	3,940	293	-3,647	3,859
Payments for time deposit	-331	－	331	-2,033
Proceeds from sales of property, plant and equipment	295	606	312	1,200
Payments for acquisition of property, plant and equipment	-7,264	-13,280	-6,016	-10,273
Payments for acquisition of investment	-107	－	107	－
Proceeds from sales of subsidiary	-340	－	340	－
Payments for purchase of subsidiary	-207	－	207	－
Payments for business transfer	－	-5	-5	-60
Other proceeds	65	81	16	132
Other payments	-944	-643	301	-244
Net cash used in investing activities	-4,894	-12,949	-8,055	-7,419
Cash flows from financing activities
Dividends paid to owners of the Company	-15	-14	1	-15,774
Dividends paid to non-controlling interests	-121	－	121	－
Increase (decrease) in short-term debt	-100	-100	－	－
Proceeds from long-term borrowings	－	734	734	－
Repayments of long-term borrowings	-151	-104	47	-152
Payments for lease liabilities	-2,006	-2,174	-168	-2,394
Payments for purchase of treasury shares	-33,963	-1	33,962	-8,083
Proceeds from exercise of stock options	64	22	-43	16
Repayments to non-controlling interests	-208	－	208	－
Payments for acquisition of interests in subsidiaries from non-controlling interests	－	－	－	-7,555
	-36,500	-1,638	34,862	-33,942
Net increase/(decrease) in cash and cash equivalents	6,504	51,345	44,841	1,188
Cash and cash equivalents at the beginning of the term	394,313	450,548	56,235	465,601
Effects of exchange rate changes on the balance of cash and cash equivalents in	5,071	23,269	18,199	-16,241
foreign currencies
Cash and cash equivalents at the end of the term	405,888	525,162	119,274	450,548

-6-

(3) Quarterly Consolidated Statement of Comprehensive Income

(HOYA Corporation and its subsidiaries)								(Millions of Yen)
		For the three months ended				For the three
			Variance	months ended
		Mar.31,2023					Dec.31,2023
		Amount	(%)	Amount	(%)	Amount	(%)	Amount	(%)
All operations
Revenue:
Sales		185,766	100.0	196,823	100.0	11,057	6.0	194,798	100.0
Finance income		2,890	1.6	4,692	2.4	1,803	62.4	4,410	2.3
Share of profit of associates		38	0.0	93	0.0	55	144.5	67	0.0
Other income		1,349	0.7	4,664	2.4	3,315	245.7	1,351	0.7
Total Revenue		190,043	102.3	206,273	104.8	16,230	8.5	200,626	103.0
Expenses:
Changes in inventories of goods, products and work in progress	2,009	1.1	1,336	0.7	-673	-33.5	-1,259	-0.6
Raw materials and consumables used		26,175	14.1	25,418	12.9	-757	-2.9	27,130	13.9
Employee benefits expense		40,825	22.0	48,851	24.8	8,026	19.7	46,461	23.9
Depreciation and amortization		12,777	6.9	11,596	5.9	-1,182	-9.2	11,410	5.9
Subcontracting cost		1,139	0.6	1,004	0.5	-135	-11.8	1,096	0.6
Advertising and promotion expense		4,036	2.2	4,980	2.5	944	23.4	4,611	2.4
Commission expense		11,640	6.3	13,340	6.8	1,701	14.6	12,246	6.3
Impairment losses		524	0.3	－	－	-524	-100.0	879	0.5
Finance costs		544	0.3	472	0.2	-72	-13.3	448	0.2
Foreign exchange (gain)/loss		840	0.5	-10,815	-5.5	-11,654	－	11,380	5.8
Other expenses		35,537	19.1	37,997	19.3	2,461	6.9	36,536	18.8
Total expense		136,046	73.2	134,180	68.2	-1,866	-1.4	150,937	77.5
Profit before tax		53,997	29.1	72,093	36.6	18,096	33.5	49,689	25.5
Income tax expense		11,465	6.2	14,616	7.4	3,152	27.5	10,704	5.5
Profit for the term from all operations		42,532	22.9	57,477	29.2	14,945	35.1	38,985	20.0
Other comprehensive income:
Items that will not be reclassified subsequently to profit or loss
Assets measured at fair value through other comprehensive income	-5,371		2,024		7,395	－	16
Remeasurements of the net defined benefit liability(asset)	96		-21		-116	－	－
Income tax relating to components of other comprehensive income	1,617		-282		-1,899	－	-23
Total Items that will not be reclassified subsequently to profit or loss	-3,658		1,722		5,380	－	-7
Items that may be reclassified subsequently to profit or loss
Exchange differences on translation of foreign operations	8,995		28,719		19,724	－	-16,696
Share of other comprehensive income of associates		19		58		39	－	-28
Income tax relating to components of other comprehensive income	11		-22		-33	－	-30
Total Items that may be reclassified subsequently to profit or loss	9,025		28,754		19,729	－	-16,754
Total other comprehensive income		5,366		30,476		25,109	－	-16,761
Total comprehensive income for the quarter		47,899		87,953		40,054	－	22,224
Profit attributable to :
Owners of the Company		42,553	22.9	57,090	29.0	14,538	34.2	38,653	19.8
Non-controlling interests		-20	-0.0	387	0.2	407	－	332	0.2
Total		42,532	22.9	57,477	29.2	14,945	35.1	38,985	20.0
Total comprehensive income attributable to :
Owners of the Company		47,536		86,868		39,333	82.7	22,170
Non-controlling interests		363		1,084		721	198.5	53
Total		47,899		87,953		40,054		22,224
Basic earnings per share (yen)		119.66		162.87		43.21		110.26
Diluted earnings per share (yen)		119.60		162.81		43.21		110.22
Notes:
Effect of Exchange Rate Change on Net Sales and Incomes ("2023A" is the actual value of this period. "2023B" is the nominal value of this period which temporarily
1. exchanged by the currency rate of the same period last year. unit : millions of Yen)
		2023B		2023A		Influence		Actual	(%)
					change
Sales		183,835		196,823		12,988		-1,931	-1.0%
Profit before tax		68,555		72,093		3,538		14,558	27.0%
Profit for the quarter		54,525		57,477		2,952		11,992	28.2%
2. Average rates of major foreign currencies		Mar.31,2023	Mar.31,2024	Variance(%)	Dec.31,2023
US$	Yen	133.44		149.88		-12.3%		146.14
Euro	Yen	143.96		162.15		-12.6%		159.10
Thai Baht	Yen	3.93		4.18		-6.4%		4.17

-7-

(4) Segment Information

Reportable segments are components of the Group for which separate financial information is obtained and examined on a regular basis by the board of directors and the chief operating decision maker to determine the allocation of management resources and evaluate the business performance.

In accordance with its management philosophy, the Group has categorised "life and culture" and "information technology" as its business domains. To achieve sustainable growth in corporate value in these business domains, the Group has been making decisions on the allocation of management resources and monitoring the operating results.

As a result, the Group consists of three reportable business segments: Life Care business, Information Technology business and Other business, which are consistent with the above business domains.

In the Life Care business, the Group produces and sells health care related products that are used routinely in health maintenance fields, and medical related products including medical equipment and medical supplies used in medical treatment. Some unique features of this business segment are that approvals and permits are required from relevant authorities in each country and that advanced technological strength and reliable quality control systems are the key requirement.

In the Information Technology business, the Group produces and sells essential items for digital devices. Included are electronics related products that are indispensable for today's digital information and communication technology, and imaging related products that are necessary to capture images as digital data based on optical technologies.

Other business includes the business that provides mainly speech synthesis software and information system services.

The main products and services for each reportable segment described above are as follows:

Reportable Segment

Health care related products

Life Care

Medical related products

Electronics related products

Information

Technology

Imaging related products

Other

Major Products and Services

Eyeglass lenses, Contact lenses, etc. Medical endoscopes, Medical accessories, Automated endoscope reprocessors (AERs), Intraocular lenses, Ophthalmic medical equipment,

Artificial bone, Metallic implants for orthopedics, Chromatography media,etc.

Photomasks and Maskblanks for semiconductors, Photomasks for FPD, Glass disks for hard disk drives (HDDs) Optical lenses, Optical glass material, Laser equipment, Light source, etc.

Speech synthesis software, Design of information systems, etc.

-8-

1. Segment revenues and results

					(Millions of Yen)
For the three months	Life Care	Information	Other	Total	Adjustments	All
ended Mar.31,2023	Technology	operations
Revenue
Revenue from external customers	124,966	59,607	1,193	185,766	－	185,766
Inter-segment	1	84	4	89	-89	－
Total	124,967	59,691	1,197	185,855	-89	185,766
Segment profit before tax	24,466	28,785	220	53,471	526	53,997
Segment profit before tax ratio	19.6%	48.2%	18.4%	28.8%	－	29.1%
Ref: Profit from ordinary operating activities	26,528	28,181	238	54,946	-1,533	53,413
% of revenue	21.2%	47.2%	19.9%	29.6%	－	28.8%
For the three months	Life Care	Information	Other	Total	Adjustments	All
ended Mar.31,2024	Technology	operations
Revenue
Revenue from external customers	137,027	58,737	1,059	196,823	－	196,823
Inter-segment	1	191	0	192	-192	－
Total	137,028	58,928	1,059	197,016	-192	196,823
Segment profit before tax	39,151	31,398	110	70,659	1,434	72,093
Segment profit before tax ratio	28.6%	53.3%	10.4%	35.9%	－	36.6%
Ref: Profit from ordinary operating activities	25,818	28,818	135	54,771	-1,787	52,984
% of revenue	18.8%	48.9%	12.8%	27.8%	－	26.9%
Ref : Difference between the results of the quarter under review and the same period the previous year is as follows:
	Life Care	Information	Other	Total	Adjustments	All
	Technology	operations
Variance
Revenue from external customers	12,061	-870	-134	11,057	－	11,057
Variance	9.7%	-1.5%	-11.2%	6.0%	－	6.0%
Inter-segment	0	107	-4	103	-103	－
Total	12,062	-763	-138	11,161	-103	11,057
Segment profit before tax	14,685	2,613	-110	17,189	908	18,096
Variance	60.0%	9.1%	-50.0%	32.1%	－	33.5%
Percentage point variance	9.0%	5.1%	-8.0%	7.1%	－	7.6%
Profit from ordinary operating activities	-710	637	-103	-175	-253	-429
Variance	-2.7%	2.3%	-43.3%	-0.3%	16.5%	-0.8%

Note:Effect of Exchange Rate Change on Net Sales and Incomes ("2023 A" is the actual value of this period. "2023 B" is the nominal value of this period which temporarily exchanged by the currency rate of the same period the previous year. unit : millions of Yen)

	2023B	2023A	Influences	Actual	(%)
	change
Life Care
Revenue from external customers	127,183	137,027	9,845	2,217	1.8%
Profit from ordinary operating activities	24,716	25,818	1,102	-1,812	-6.8%
Segment profit before tax	37,092	39,151	2,059	12,626	51.6%
Information Technology
Revenue from external customers	55,679	58,737	3,058	-3,928	-6.6%
Profit from ordinary operating activities	27,587	28,818	1,231	-594	-2.1%
Segment profit before tax	30,048	31,398	1,350	1,263	4.4%
Ref : Results of the previous quarter are as follows:
For the three months	Life Care	Information	Other	Total	Adjustments	All
ended Dec.31,2023	Technology	operations
Revenue
Revenue from external customers	133,513	60,305	981	194,798	－	194,798
Inter-segment	2	157	－	159	-159	－
Total	133,514	60,462	981	194,958	-159	194,798
Segment profit before tax	20,321	29,534	25	49,880	-191	49,689
Segment profit before tax ratio	15.2%	48.8%	2.6%	25.6%	－	25.5%
Ref: Profit from ordinary operating activities	27,491	30,515	25	58,031	-1,358	56,673
% of revenue	20.6%	50.5%	2.5%	29.8%	－	29.1%

Note:Profit from ordinary operating activities is operating profit before finance income/costs, share of profits(loss) of associates, foreign exchange gain/loss and other temporary gain/loss.

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