Pack : Annual Securities Report for the 71st Period

Annual Securities Report

From January 1, 2022 to December 31, 2022

(71st Period)

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Annual Securities Report

1. This Report was prepared from data submitted via EDINET (Electronic Disclosure for Investors' NETwork) for the Annual Securities Report as required by Article 24, Paragraph 1, of the Financial Instruments and Exchange Act of Japan, pursuant to Article 27-30-2 of that Act. This Report adds pagination and a table of contents.
2. The audit report attached to the Annual Securities Report submitted by the above method and the Internal Controls Report and Confirmation Letter submitted together with the above Annual Securities Report are attached at the end of this Report.

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Contents

			Page
Annual Securities Report for 71st Period
Cover sheet	4
Part 1.	Company information	5
I.	Company overview	5
	1.	Trends in KPIs, etc	5
	2.	History	7
	3.	Lines of business	8
	4.	Affiliate companies	10
	5.	Employees	11
II.	Business conditions	12
	1.	Management policies, business environment, topics, etc	12
	2.	Business and other risks	15
	3.	Management's analysis of financial standing, business results, and cash flows	17
	4.	Important business contracts, etc	23
	5.	Research and development activities	23
III.	Facilities	25
	1.	Overview of capital investment	25
	2.	Status of major equipment	25
	3.	Plans for new facilities, removal of facilities, etc	26
IV.	Status of the Company	27
	1.	Stock, etc	27
	2.	A cquisition of treasury stock, etc	31
	3.	Dividend policy	32
	4.	Corporate governance	33
V.	Accounts	58
	1.	Consolidated financial statements, etc	59
	2.	Financial statements, etc	96
VI.	Overview of stock administration by the Company	110
VII. Reference information on the Company	111
	1.	Information on the parent company of the Company	111
	2.	Other reference information	111
Part 2.	Information on the Company's guarantors	112

Audit Report

Internal Controls Report

Confirmation Letter

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Cover sheet

Document submitted:	Annual Securities Report
Underlying legal provisions:	Article 24, Paragraph 1, of the Financial Instruments and Exchange Act of Japan
Submitted to:	Director, Kinki Local Finance Branch Bureau
Date submitted:	March 28, 2023
Business year:	71st Period (January 1 - December 31, 2022)
Company name:	ザ・パック株式会社
Company name in English:	The Pack Corporation
Name and title of representative:	Hideaki Yamashita, President & CEO
Head office:	9-9 Higashiobase, Higashinari-ku, Osaka, Japan
Tel.:	[phone]
Administrative contact:	Michihisa Fujii, Managing Director, Corporate Division
Nearest contact address:	20F, OAP Tower, 1-8-30 Temmabashi, Kita-ku, Osaka, Japan
Tel.:	[phone]
Administrative contact:	Michihisa Fujii, Managing Director, Corporate Division
Viewing locations:	The Pack Corporation
	20F, OAP Tower, 1-8-30 Temmabashi, Kita-ku, Osaka, Japan
	Tokyo Stock Exchange, Inc.
	2-1 Nihonbashi Kabutocho, Chuo-ku, Tokyo, Japan

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Part 1. Company information

1. Company overview

1. Trends in KPIs, etc.

1. Indicators of consolidated business performance

Fiscal year		No. 67	No. 68	No. 69	No. 70	No. 71
Fiscal year ended		December	December	December	December	December
	2018	2019	2020	2021	2022
Net sales	(¥ million)	93,126	95,502	78,445	79,690	89,060
Ordinary income	(¥ million)	7,212	7,199	3,606	4,422	6,353
Profit attributable to owners of	(¥ million)	4,968	4,700	2,392	2,824	4,058
parent
Comprehensive income	(¥ million)	4,208	4,763	2,368	3,325	4,362
Net assets	(¥ million)	56,775	58,495	59,739	62,032	65,371
Total assets	(¥ million)	86,495	88,446	83,556	87,422	94,365
Net assets per share	(¥)	2,885.27	3,076.27	3,141.09	3,261.64	3,436.46
Net income per share	(¥)	253.25	243.89	126.01	148.71	213.55
Diluted net income per share	(¥)	252.91	243.50	125.85	148.53	213.38
Capital adequacy ratio	(%)	65.5	66.0	71.4	70.9	69.2
Return on equity	(%)	9.0	8.2	4.1	4.6	6.4
Price-to-earnings ratio	(times)	12.0	16.2	22.4	18.1	11.3
Cash flows from operating	(¥ million)	6,742	6,599	3,155	7,217	5,380
activities
Cash flows from investing	(¥ million)	(4,705)	(4,136)	(5,013)	(3,460)	(3,762)
activities
Cash flows from financing	(¥ million)	(2,059)	(3,319)	(1,214)	(1,029)	(1,124)
activities
Ending balance of cash and	(¥ million)	19,181	18,307	15,224	18,067	18,653
cash equivalents
Employees	(persons)	1,228	1,252	1,240	1,198	1,183
[average number of temporary	[518]	[505]	[480]	[468]	[472]
employees, not included
above]

Note: The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020) and related guidance have been applied since the 71st period. KPIs and other data for the 70th period reflect retroactive application of these accounting standards.

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