Pegasus : (Correction / Correction of Numerical Data)Notice of Partial Correction of “Consolidated Financial Results for the Year Ended March 31, 2023 ”

May 19, 2023

To whom it may concern

Company name: PEGASUS CO., LTD.

Representative: Shigemi Mima, Representative Director (Securities Code 6262, Prime Market of theTokyo Stock Exchange)

Inquiries: Takashi Kaneko, Senior Executive Officer (Telephone: [phone])

(Correction / Correction of Numerical Data) Notice of Partial Correction of

"Consolidated Financial Results for the Year Ended March 31, 2023 [Japanese GAAP]"

PEGASUS. CO., LTD. (hereinafter, the "Company") hereby announces that there were matters that should have been partially corrected in the "Consolidated Financial Results for the Year Ended March 31, 2023 [Japanese GAAP]" published on May 12, 2023. Please note that the corrected portions are underlined.

1. Reason for corrections

The Company has made partial corrections in the content of the "Consolidated Financial Results for the Year

Ended March 31, 2023 [Japanese GAAP]" since there were some errors identified after its disclosure.

2. Details of correction

Summary - 1. Consolidated Financial Results for the Fiscal Year Ended

March 31, 2023 (April 1, 2022 to March 31, 2023)

【Before correction】

(2) Consolidated Financial Position

	Total assets	Net assets	Capital adequacy ratio	Net assets per share
As of	Millions of yen		Millions of yen	%	Yen
March 31, 2023	39,880		29,199	71.0	1,140.65
March 31, 2022	35,133		25,366	70.0	991.49
(Reference) Equity: As of	March 31, 2023:	¥	28,300 million
As of	March 31, 2022:	¥	24,599 million

【After correction】

(2) Consolidated Financial Position

	Total assets	Net assets	Capital adequacy ratio	Net assets per share
As of	Millions of yen		Millions of yen	%	Yen
March 31, 2023	39,507		29,199	71.6	1,140.65
March 31, 2022	35,133		25,366	70.0	991.49
(Reference) Equity: As of	March 31, 2023:	¥	28,300 million
As of	March 31, 2022:	¥	24,599 million

Consolidated Financial Statements - Consolidated Balance Sheets

【Before correction】

					(Thousands of yen)
				As of March 31, 2022	As of March 31, 2023
Assets
	Current assets
	Cash and deposits	9,773,167	9,530,205
	Notes and accounts receivable - trade	5,676,044	6,141,082
	Merchandise and finished goods	4,675,908	7,024,645
	Work in process	1,063,678	1,105,842
	Raw materials and supplies	3,787,567	4,019,530
	Accounts receivable - other	92,441	76,740
	Other	439,031	602,113
	Allowance for doubtful accounts	(35,551)	(127,704)
	Total current assets	25,472,287	28,372,456
	Non-current assets
	Property, plant and equipment
	Buildings and structures	8,413,916	8,690,448
		Accumulated depreciation	(3,371,336)	(3,644,768)
		Buildings and structures, net	5,042,579	5,045,679
	Machinery, equipment and vehicles	7,719,089	8,599,618
		Accumulated depreciation	(5,280,883)	(5,859,191)
		Machinery, equipment and vehicles, net	2,438,206	2,740,427
	Tools, furniture and fixtures	937,278	1,015,390
		Accumulated depreciation	(777,195)	(858,234)
		Tools, furniture and fixtures, net	160,082	157,155
	Land	118,720	129,768
	Leased assets	177,008	130,314
		Accumulated depreciation	(80,892)	(55,914)
		Leased assets, net	96,116	74,399
	Right of use asset	753,744	2,300,706
		Accumulated depreciation for right of use	(217,275)	(641,751)
		asset
		Right of use asset-net	536,469	1,658,955
	Construction in progress	120,514	603,273
	Total property, plant and equipment	8,512,689	10,409,659
	Intangible assets	535,822	44,057
	Investments and other assets
	Investment securities	144,630	147,167
	Retirement benefit asset	163,732	131,844
	Deferred tax assets	188,265	611,788
	Other	116,074	163,232
	Total investments and other assets	612,702	1,054,033
	Total non-current assets	9,661,215	11,507,750
	Total assets	35,133,503	39,880,206

					(Thousands of yen)
				As of March 31, 2022	As of March 31, 2023
Liabilities
	Current liabilities
		Notes and accounts payable - trade		2,396,454	2,831,554
		Short-term borrowings	2,620,705	3,018,940
		Current portion of long-term borrowings		375,236	407,636
		Lease liabilities	131,117	169,776
		Income taxes payable		206,741	498,384
		Provision for bonuses	163,041	121,878
		Other		807,213	815,721
		Total current liabilities	6,700,511	7,863,891
	Non-current liabilities
		Long-term borrowings	1,556,909	1,171,533
		Lease liabilities		534,427	510,993
		Long-term guarantee deposits	117,000	114,000
		Retirement benefit liability		509,426	521,722
		Deferred tax liabilities	230,163	372,232
		Other		118,101	125,848
		Total non-current liabilities		3,066,028	2,816,330
	Total liabilities		9,766,540	10,680,221
Net assets
	Shareholders' equity
		Share capital		2,255,553	2,255,553
		Capital surplus		2,988,857	2,988,857
		Retained earnings	16,928,634	18,528,628
		Treasury shares		(5,365)	(5,365)
		Total shareholders' equity	22,167,680	23,767,674
	Accumulated other comprehensive income
		Valuation difference on available-for-sale	12,455	14,074
		securities
		Foreign currency translation adjustment		2,353,722	4,482,371
		Remeasurements of defined benefit plans	65,715	36,001
		Total accumulated other comprehensive income		2,431,893	4,532,447
	Non-controlling interests	767,388	899,863
	Total net assets		25,366,962	29,199,985
Total liabilities and net assets	35,133,503	39,880,206

【After correction】

					(Thousands of yen)
				As of March 31, 2022	As of March 31, 2023
Assets
	Current assets
	Cash and deposits		9,773,167	9,530,205
	Notes and accounts receivable - trade	5,676,044	6,141,082
	Merchandise and finished goods		4,675,908	7,024,645
	Work in process	1,063,678	1,105,842
	Raw materials and supplies		3,787,567	4,019,530
	Accounts receivable - other	92,441	76,740
	Other		439,031	602,113
	Allowance for doubtful accounts	(35,551)	(127,704)
	Total current assets		25,472,287	28,372,456
	Non-current assets
	Property, plant and equipment
	Buildings and structures	8,413,916	8,690,448
		Accumulated depreciation		(3,371,336)	(3,644,768)
		Buildings and structures, net		5,042,579	5,045,679
	Machinery, equipment and vehicles		7,719,089	8,599,618
		Accumulated depreciation	(5,280,883)	(5,859,191)
		Machinery, equipment and vehicles, net		2,438,206	2,740,427
	Tools, furniture and fixtures	937,278	1,015,390
		Accumulated depreciation		(777,195)	(858,234)
		Tools, furniture and fixtures, net	160,082	157,155
	Land		118,720	129,768
	Leased assets	177,008	130,314
		Accumulated depreciation		(80,892)	(55,914)
		Leased assets, net	96,116	74,399
	Right of use asset		753,744	2,300,706
		Accumulated depreciation for right of use	(217,275)	(641,751)
		asset
		Right of use asset-net		536,469	1,658,955
	Construction in progress	120,514	603,273
	Total property, plant and equipment		8,512,689	10,409,659
	Intangible assets	535,822	44,057
	Investments and other assets
	Investment securities	144,630	147,167
	Retirement benefit asset		163,732	131,844
	Deferred tax assets	188,265	239,556
	Other		116,074	163,232
	Total investments and other assets		612,702	681,801
	Total non-current assets		9,661,215	11,135,518
	Total assets	35,133,503	39,507,974

					(Thousands of yen)
				As of March 31, 2022	As of March 31, 2023
Liabilities
	Current liabilities
		Notes and accounts payable - trade		2,396,454	2,831,554
		Short-term borrowings	2,620,705	3,018,940
		Current portion of long-term borrowings		375,236	407,636
		Lease liabilities	131,117	169,776
		Income taxes payable		206,741	498,384
		Provision for bonuses	163,041	121,878
		Other		807,213	815,721
		Total current liabilities	6,700,511	7,863,891
	Non-current liabilities
		Long-term borrowings	1,556,909	1,171,533
		Lease liabilities		534,427	510,993
		Long-term guarantee deposits	117,000	114,000
		Retirement benefit liability		509,426	521,722
		Deferred tax liabilities	230,163	-
		Other		118,101	125,848
		Total non-current liabilities		3,066,028	2,444,097
	Total liabilities		9,766,540	10,307,989
Net assets
	Shareholders' equity
		Share capital		2,255,553	2,255,553
		Capital surplus		2,988,857	2,988,857
		Retained earnings	16,928,634	18,528,628
		Treasury shares		(5,365)	(5,365)
		Total shareholders' equity	22,167,680	23,767,674
	Accumulated other comprehensive income
		Valuation difference on available-for-sale	12,455	14,074
		securities
		Foreign currency translation adjustment		2,353,722	4,482,371
		Remeasurements of defined benefit plans	65,715	36,001
		Total accumulated other comprehensive income		2,431,893	4,532,447
	Non-controlling interests	767,388	899,863
	Total net assets		25,366,962	29,199,985
Total liabilities and net assets	35,133,503	39,507,974