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.

January 30, 2024

Consolidated Financial Results
for the First Nine Months of the Fiscal Year Ending March 31, 2024
(Under Japanese GAAP)
Company name:
Konishi Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
4956
URL:
https://www.bond.co.jp/
Representative:
Keiichi Oyama, Representative Director and President
Inquiries:
Shinichi Okamoto, Director and Managing Executive Officer
Telephone:+81-6-6228-2877
Scheduled date to file quarterly securities report:
February 9, 2024
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
None
Holding of quarterly financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the first nine months of the fiscal year ending March 31, 2024 (from
April 1, 2023, to December 31, 2023)(1) Consolidated operating results (YTD)
Net salesFirst nine months
ended(Percentages indicate year-on-year changes.)
Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

December 31, 2023

100,852

10.6

8,235

59.0

8,644

54.3

5,705

(32.8)

December 31, 2022

91,220

8.9

5,178

(5.7)

5,602

(4.6)

8,489

121.2

Note: Comprehensive income

First nine months ended December 31, 2023:
First nine months ended December 31, 2022:

Basic earnings
per shareFirst nine months
ended[(10.6%)][111.5%]

Diluted earnings
per share

Yen

Yen

December 31, 2023

83.88

-

December 31, 2022

119.12-

Note:¥8,080 million¥9,038 million

The Company conducted a stock split at a ratio of two shares for one common share with an effective date of January 1,
2024. “Basic earnings per share” is calculated based on the assumption that the stock split was conducted at the
beginning of the fiscal year ended March 31, 2023.

(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen

December 31, 2023

140,015

82,87055.7

March 31, 2023

132,874

81,482

57.9

Reference:

EquityAs of December 31, 2023
As of March 31, 2023

¥77,968 million¥76,975 million%

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen
Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024

-

27.00

-

-

27.00

-

Fiscal year-end

Total

Yen

Fiscal year ending
March 31, 2024
(forecast)

Yen

22.00

49.00

17.00

-

Notes: 1. Revisions to the forecasts of cash dividends most recently announced: Yes
Please refer to the “Notice Concerning Revision of Full-Year Earnings Forecast (Upward Revision) and Revision of
Dividend Forecast (Dividend Increase)” announced today (January 30, 2024) for the revision of the dividend forecast.
2. The Company conducted a stock split at a ratio of two shares for one common share with an effective date of January 1,
2024. Regarding dividends by the third quarter of the fiscal year ending March 31, 2024, the actual dividend amount
before the stock split is stated. Regarding the year-end dividend per share for the fiscal year ending March 31, 2024
(forecast), the amount considering the stock split is stated. Forecast for the full-year dividend per share is not presented
due to the stock split; however, the forecast for the full-year dividend per share based on the pre-stock split standards is¥61.00, an increase of ¥12.00.
3. Breakdown of dividends at the end of the second quarter for the fiscal year ended March 31, 2023:
Ordinary dividend ¥22.00; 70th anniversary of the launch of bond (synthetic adhesive) commemorative dividend ¥5.00

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

Fiscal year ending March
31, 2024

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

132,900

7.8

10,50041.5

11,000

38.8

6,800

(32.2)

99.97

Notes: 1. Revisions to the consolidated earnings forecasts most recently announced: Yes
Please refer to the “Notice Concerning Revision of Full-Year Earnings Forecast (Upward Revision) and Revision of
Dividend Forecast (Dividend Increase)” announced today (January 30, 2024) for the revision of consolidated earnings
forecasts.
2. The Company conducted a stock split at a ratio of two shares for one common share with an effective date of January 1,
2024. Regarding basic earnings per share in the consolidated earnings forecasts, the figure considering the stock split isstated.
3. The main reason for the large fluctuation compared with the same period of the previous year in profit attributable toowners of parent is that a gain on sale of non-current assets due to the transfer of non-current assets was generated for the
first six months of the fiscal year ended March 2023.

* Notes(1) Changes in significant subsidiaries during the first nine months ended December 31, 2023 (changes in
specified subsidiaries resulting in the change in scope of consolidation): None
Included: 0 companies, excluded 0 companies(2) Application of special accounting for preparing quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies other than (i): 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 treasury shares)
As of December 31, 2023

70,414,880 shares

As of March 31, 2023

81,414,880 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2023

3,995,178 shares

As of March 31, 2023

10,597,602 shares(iii) Average number of shares outstanding during the period
First nine months ended December 31, 2023

68,017,258 sharesFirst nine months ended December 31, 2022

71,272,498 shares(Note) 1. The Company conducted a stock split at a ratio of two shares for one common share with an effective date of January 1,
2024. The total number of issued shares at the end of the period, the number of treasury shares at the end of the period,
and the average number of shares outstanding during the period are calculated based on the assumption that the stock
split was conducted at the beginning of the fiscal year ended March 31, 2023.
2. The Company cancelled 11,000,000 treasury shares (number of shares after taking into account stock split) on October
13, 2023, pursuant to a resolution of the Board of Directors held on September 26, 2023.

* 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
Forward-looking statements, including the earnings forecasts stated in these materials, are based on information
currently available to the Company and certain assumptions deemed reasonable. Results may differ materiallyfrom the earnings forecasts due to various factors. For the assumptions used as the basis for the earnings
forecasts and special remarks regarding the use of the earnings forecasts, please refer to “1. Qualitative
information regarding financial results for the first nine months (3) Explanation of consolidated earnings
forecasts and other forward-looking statements” on page 3 (Attached Material).

Konishi Co., Ltd. (4956)

Index
1.

Qualitative information regarding financial results for the first nine months.................................................... 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) Consolidated balance sheet........................................................................................................................ 4(2) Consolidated statement of income (cumulative) and consolidated statement of comprehensive income(cumulative)............................................................................................................................................... 6(3) Notes to quarterly consolidated financial statements ................................................................................ 8
Notes on premise of going concern ........................................................................................................... 8
Notes on significant changes in the amount of shareholders’ equity ......................................................... 8
Segment information ................................................................................................................................. 8
Significant subsequent events .................................................................................................................... 9-1-

Konishi Co., Ltd. (4956)
1.

Qualitative information regarding financial results for the first nine months(1) Explanation of operating results
During the first nine months under review, the Japanese economy returned to a moderate recovery as the legal
status of the COVID-19 pandemic was shifted and socioeconomic activities became more normalized. On theother hand, the situation affecting economic activities, such as soaring prices of resources/energy and raw
materials due to the situation in the Middle East and Ukraine, and global monetary tightening, has been
prolonged. Therefore, the outlook remains uncertain.
In this business environment, the Group works to strengthen new business development, focuses on growthareas, makes its largest-ever capital investments in production, logistics, and DX-related areas, and implements
new capital policies. Through these efforts, the Group strives to further expand its business and improve
management efficiency.
As a result, the Group’s operating results for the first nine months under review were as follows. Net sales
increased 10.6% year on year to 100,852 million yen, operating profit grew 59.0% year on year to 8,235 million
yen, ordinary profit was up 54.3% year on year to 8,644 million yen, and profit attributable to owners of parent
fell 32.8% year on year to 5,705 million yen due to the recording of a gain on sale of non-current assets resulting
from the transfer of non-current assets in the second quarter of the fiscal year ended March 31, 2023.
Results by segment are as follows.
(i) Bond
In the general household field, sales through home improvement stores and convenience stores remained
steady. In the housing-related field, the recovery of new housing starts was slow due to rising construction
costs. As a result, the sales volumes of adhesives for interior work decreased. In the industrial material field,
the sales volumes of water-based adhesives used in paper-related applications decreased, but the sales
volumes of elastic adhesives for automotive use, etc., increased. In the civil engineering and construction
field, sales of sealing materials for construction and civil engineering and materials used in construction
methods for preventing flaking increased in line with an increase in renovation projects.
The prices of raw materials used in adhesives and sealants still continued to rise. However, efforts for costsaving and cost improvement, and reflecting cost in product sales prices progressed, resulting in higher net
sales and operating profit.
As a result of the above, net sales grew 5.7% year on year to 54,887 million yen and operating profit
increased 70.1% year on year to 5,575 million yen.
(ii) Chemicals
In the chemical engineering field, sales of resin raw materials decreased. In the automobile field, sales of
products for hybrid vehicles were strong due to the elimination of semiconductor shortages and new
adoption. Sales for related merchandise for electronic and electrical appliances declined due to the impact
of weaker demand for personal consumer products such as PCs, tablets, and smartphones.
As a result of the above, net sales grew 14.8% year on year to 29,983 million yen and operating profit
increased 0.1% year on year to 1,002 million yen.
(iii) Construction
In the Construction Business, repair, improvement, and reinforcement works in the infrastructure and(housing) stock markets, particularly for public works, were continuously steady. The progress ofconstruction was also good. As a result, net sales and operating profit of all five related construction
companies increased significantly.
As a result of the above, net sales grew 21.8% year on year to 15,848 million yen and operating profit
increased 67.4% year on year to 1,553 million yen.
-2-

Konishi Co., Ltd. (4956)(iv) Other
The “Other” segment represents the Real Estate Rental Business, etc. Net sales decreased 2.7% year on
year to 133 million yen and operating profit was 90 million yen (operating loss of 37 million yen in thesame period of the previous year).
(2) Explanation of financial position
Assets, liabilities and net assets
Total assets as of December 31, 2023, increased 7,140 million yen from the previous fiscal year-end to 140,015
million yen.
(i) Assets
Current assets increased 1,649 million yen from the previous fiscal year-end to 96,083 million yen. Thiswas mainly due to an increase of 3,282 million yen in electronically recorded monetary claims–operating
and an increase of 1,794 million yen in notes and accounts receivable–trade, and contract assets, despite adecrease of 3,601 million yen in cash and deposits. Non-current assets increased 5,491 million yen fromthe previous fiscal year-end to 43,932 million yen mainly due to an increase of 3,031 million yen in property,
plant and equipment and an increase of 2,600 million yen in investment securities.
(ii) Liabilities
Current liabilities increased 4,638 million yen from the previous fiscal year-end to 50,494 million yen
mainly due to an increase of 5,814 million yen in notes and accounts payable–trade and an increase of 471
million yen in electronically recorded obligations–operating, despite a decrease of 2,834 million yen inincome taxes payable. Non-current liabilities grew 1,114 million yen from the previous fiscal year-end to
6,650 million yen mainly due to an increase of 1,084 million yen in other.
(iii) Net assets
Net assets grew 1,387 million yen from the previous fiscal year-end to 82,870 million yen mainly due to anincrease of 1,664 million yen in valuation difference on available-for-sale securities.
(3) Explanation of consolidated earnings forecasts and other forward-looking statements
The earnings forecasts have been changed from the earnings forecasts announced on April 28, 2023. For details,
please refer to the “Notice Concerning Revision of Full-Year Earnings Forecast (Upward Revision) andRevision of Dividend Forecast (Dividend Increase)” announced today.

-3-

Konishi Co., Ltd. (4956)
2. Quarterly consolidated financial statements and significant notes thereto(1) Consolidated balance sheet(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable–trade, and contract
assetsElectronically recorded monetary claims–operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-4-

As of December 31, 2023

32,19528,59334,75236,547

14,667
9,355
314
1,640
1,565
(57)
94,434

17,950
9,416
303
1,618
1,717
(63)
96,08325,746
1,188

28,778
1,746

8,084
3,440
(17)
11,50638,440132,874

10,6842,740(17)
13,40743,932140,015

Konishi Co., Ltd. (4956)(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable–trade
Electronically recorded obligations–operating
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-5-

As of December 31, 2023

33,983
3,728
48
60
3,298
1,152

39,798
4,199
398
44
464
654

131

78

3,450
45,856

4,854
50,494

116
645
4,774
5,536
51,392

86
704
5,859
6,650
57,145

4,603
4,557
69,450(5,904)72,707

4,603
4,422
65,675(2,893)71,807

2,611
(0)
450
1,206
4,268
4,507
81,482
132,874

4,276
0
778
1,105
6,160
4,902
82,870140,015

Konishi Co., Ltd. (4956)(2) Consolidated statement of income (cumulative) and consolidated statement of comprehensive income(cumulative)
Consolidated statement of income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Commission expenses
Depreciation
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Insurance claim income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Bad debts expenses
Other
Total extraordinary losses
Profit before income taxes
Income taxes–current
Income taxes–deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-6-

Nine months ended
December 31, 2023

91,22073,80917,411
12,232
5,178

100,852
80,507
20,344
12,108
8,235

11
240
19
208
479

11
247
28
224
512

7
0
23
24
55
5,602

8
45
33
16
104
8,644

0
7,185
7,185

108
92
3
203

40
0
40
12,747
3,634
376
4,010
8,736
246
8,489

28
84
2
114
8,733
2,341
344
2,686
6,047
341
5,705

Konishi Co., Ltd. (4956)
Consolidated statement of comprehensive income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests-7-

Nine months ended
December 31, 2023

8,736

6,047

(168)
(0)
531
(56)

1,747
0
370
(100)

(5)

16

301
9,038

2,033
8,080

8,774
263

7,597
482

Konishi Co., Ltd. (4956)(3) Notes to quarterly consolidated financial statements
Notes on premise of going concern
Not applicable.
Notes on significant changes in the amount of shareholders’ equity(Purchase of treasury shares)
The Company acquired 4,462,200 treasury shares pursuant to a resolution of the Board of Directors held on
June 20, 2023. As a result, the amount of treasury shares increased by 5,000 million yen during the first ninemonths under review, including the acquisition through the purchase of odd-lot shares.
(Cancellation of treasury shares)
The Company cancelled 11,000,000 treasury shares on October 13, 2023, pursuant to a resolution of the Boardof Directors held on September 26, 2023. As a result, capital surplus decreased by 162 million yen, retained
earnings fell by 7,804 million yen, and treasury shares decreased by 7,966 million yen during the first ninemonths under review.
As a result of these and other impacts, capital surplus was 4,422 million yen, retained earnings came to 65,675
million yen, and treasury shares were 2,893 million yen as of December 31, 2023.
The Company conducted a stock split at a ratio of two shares for one common share with an effective date ofJanuary 1, 2024. The number of shares shown above is the number after the stock split.
Segment information
1. Disclosure of net sales and profit or loss by reportable segment
Nine months ended December 31, 2022
(Millions of yen)
Adjustments(Note) 2

Amount inconsolidated
statement ofincome(Note) 3

91,220-91,220

58

613

(613)

-

195

91,834(613)

91,220

(37)

5,170

8

5,178

Reportable segments
Bond

Net sales(1) Revenues fromexternal customers(2) Intersegment sales andtransfers
Total
Segment profit or loss

Total

Other
(Note) 1

13,014 91,083

137

Chemicals Construction

51,942

26,126251289

52,194

26,415

3,278

1,001

14

555

13,028 91,638
928

5,207

Total

Notes: 1. The “Other” category is a business segment not included in reportable segments, and includes the realestate rental business.
2. Adjustments of segment profit or loss represent eliminations for intersegment transactions.
3. Segment profit or loss is adjusted with operating profit in the consolidated statement of income.

-8-

Konishi Co., Ltd. (4956)
Nine months ended December 31, 2023
(Millions of yen)
Reportable segments
Bond
Net sales(1) Revenues from externalcustomers(2) Intersegment sales andtransfers
Total
Segment profit

Chemicals Construction

54,88729,983215

222

55,10230,205

5,575

1,002

Total

15,848 100,718

Other(Note) 1

Total

Adjustments(Note) 2-

100,852

644

(644)

-

15,997 101,306

190 101,496(644)

100,852

1,553

90

13

8,235

149

587
8,131

133 100,852

Amount inconsolidated
statement ofincome(Note) 3

56

8,222

Notes: 1. The “Other” category is a business segment not included in reportable segments, and includes the realestate rental business.
2. Adjustments of segment profit represent eliminations for intersegment transactions.
3. Segment profit is adjusted with operating profit in the consolidated statement of income.
2.

Disclosure of impairment loss on non-current assets or goodwill, etc. by reportable segment
Not applicable.

Significant subsequent events(Stock split)
The Company conducted a stock split on January 1, 2024, pursuant to a resolution of the Board of Directors
held on November 21, 2023.
(1) Purpose of stock split
By reducing the amount per investment unit of the Company’s stocks, the Company aims to create anenvironment that makes it easier for investors to invest, thereby expanding the investor base andimproving the liquidity of the Company’s stocks.
(2) Outline of stock split① Split method
Each share of the Company’s common stock held by shareholders of record at the close of trading on
December 31, 2023 (record date) is split into two shares.
*Note the stock split is practically executed at the close on Friday, December 29, 2023 as theshareholder register office is closed on December 31, 2023.
② Number of shares to be increased by the split
Total number of shares outstanding prior to the stock split: 35,207,440 shares
Increase in the number of shares as a result of the stock split: 35,207,440 shares
Total number of shares outstanding after the stock split:
70,414,880 shares
Total number of authorized shares after the stock split:
160,800,000 shares (Note)(Note) The total number of authorized shares shall not increase due to the above stock split.
③ Schedule for the split
Public notice of record date: December 14, 2023
Record date: December 31, 2023
Effective date: January 1, 2024

-9-

Konishi Co., Ltd. (4956)④ Impact on information of per share
The information of per share assuming that the share split was conducted at the beginning of the fiscal
year ended March 31, 2023, is below.

Basic earnings per share

Nine months ended
December 31, 2022
119.12 yen- 10 -

Nine months ended
December 31, 2023
83.88 yen