Summary of Consolidated Financial Results for the Six Months Ended September 30, 2022
[Japanese Standards] (Consolidated)
November 11 , 2022
Company name:
OKAMOTO INDUSTRIES, INC.
Stock exchange listing:Tokyo
Stock code:
5122
URL https://www.okamoto-inc.jp/
Representative:
Kunihiko Okamoto, President
Inquiries:
Hiroshi Takashima, Executive Director Accounting Dept.
November 14 , 2022
Scheduled date to file Securities Report:
December 1 , 2022
Scheduled date to commence dividend payments:
No
Supplemental material on quarterly results:
No
Presentation on quarterly results:(Amounts less than one million yen are rounded down)
1.Consolidated financial results for the six months ended September 30, 2022
(from April 1, 2022 to September 30, 2022)(1) Consolidated operating results(cumulative)(％ represents changes over the same period in the previous fiscal year.)
Profit attributable toNet sales
Operating income
Ordinary income
owners of parent
Millions of yen％ Millions of yen％ Millions of yen％ Millions of yen％Six months ended September 30, 2022
46,421
4.3
3,103 △ 31.3
3,977 △ 23.4
2,517 △ 22.8
Six months ended September 30, 2021
44,499
13.2
4,520
41.4
5,194
35.0
3,262
27.6
Six months ended September 30, 2022 :
4,879 million yen
21.3 ％(Note) Comprehensive income:Six months ended September 30, 2021 :
4,024 million yen
18.8 ％Net income per shareyen
138.39175.29Six months ended September 30, 2022
Six months ended September 30, 2021

Diluted net income per shareyen-(2) Consolidated financial position
As of September 30, 2022
As of March 31, 2022
(Reference) Own capital:

Total assets
Net assets
Millions of yen
Millions of yen
124,81377,871
117,560
74,916
As of September 30, 2022 :
74,670 million yen
As of March 31, 2022 :
71,916 million yen

Equity ratio
％
59.8
61.2

2.Dividends
Cash dividends per share
End of first quarterEnd of second quarter

yen－－

yen
50.00
55.00

FY Ended March 31, 2022
FY Ended March 31, 2023
FY Ended March 31, 2023 (forecast)(Note) Revision of the latest dividend forecast announced:

End of third quarter

Year-end

Totalyen－yen
55.00

yen
105.00－55.00110.00No

3.Forecasts of consolidated financial results for the year ending March 31, 2023
(from April 1, 2022 to March 31, 2023)
Net sales
Operating income
Millions of yen％
Millions of yen％
Full year
92,0002.76,500△ 13.8No(Note) Revision of the latest consolidated results forecast announced:(％ represents changes over the previous fiscal year.)Ordinary income
Profit attributable toNet income
Millions of yen％
Millions of yen％
yen7,400△ 20.54,700△ 15.7253.91

*Notes(1) Changes in status of significant subsidiaries during the six months ended September 30, 2022
No(changes in status of specified subsidiaries accompanying changes in consolidated)－
Newly consolidated subsidiaries: －Subsidiaries excluded:(2) Application of accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting principles, changes in accounting estimates, and retrospective restatements
No①Changes in accounting principles due to revisions to accounting standards:
No②Changes other than ①:No③Changes in accounting estimates:
No④Retrospective restatements:(4) Number of outstanding shares(common stock)①Number of outstanding shares at period-end(including treasury stock)②Number of treasury stocks at period-end③Average number of shares during the period(cumulative total for quarterly period)①②③

Six months ended September 30, 2022
Six months ended September 30, 2022
Six months ended September 30, 2022

18,599,367
534,482
18,188,058

FY Ended March 31, 2022
FY Ended March 31, 2022
Six months ended September 30, 2021

*The current quarterly financial results are not subject to quarterly review procedures by certified public accountant or by auditing firm.
*Explanation relating to the appropriate use of forecasts of business results and other items of note.
The forecasts included in this document are based on the currentry available information and certain assumptions that we believe reasonable.
Actual results, etc. may differ from projections due to a variety of reasons.

19,099,367
800,839
18,612,691

Consolidated Quarterly Financial Statements and Notes
Consolidated Quarterly Balance Sheets

As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes receivable-trade
Accounts receivable-trade
Electronically recorded monetary claims-operatingMerchandise 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
Long-term time deposits
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets(millions of yen)
As of September 30, 2022

33,445
2,462
15,539
7,102
8,035
2,058
3,115
1,306
△ 38
73,02634,6552,28917,226
7,513
10,060
2,320
3,766
1,791
△ 36
79,587

19,824642

20,806772

22,626805
138
502△524,066
44,533
117,560

1,300
20,671951
263
467△523,648
45,226
124,813

As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable-trade
Electronically recorded obligations-operating
Short-term loans payable
Income taxes payable
Provision for bonuses
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Deferred tax liabilities
Net defined benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
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(millions of yen)
As of September 30, 2022

20,118
1,905
2,654
724
1,033
60
4,300
30,797

23,819
1,981
2,405
1,504
1,092
30
4,519
35,353

1,044
2,610
7,110
1,081
11,84642,643

1,102
2,527
7,195
763
11,58846,942

13,047555
51,241△ 3,426
61,41813,047555
50,733△ 2,31162,024

9,662
△ 14
855
40
10,543
2,954
74,916
117,560

9,464
8
3,129
43
12,646
3,200
77,871
124,813

Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive Income
Consolidated Quarterly Statements of Income
Six months ended September 30, 2022
(Millions of yen)Six months ended

Six months ended
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Freightage and packing expenses
Other selling expenses
Salaries and bonuses
Provision for bonuses
Retirement benefit expenses
Other general and administrative expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividends income
Real estate rent
Equity in earnings of affiliates
Foreign exchange gains
Other income
Total non-operating income
Non-operating expenses
Interest expenses
Rent expenses on real estates
Equity in losses of affiliates
Other expenses
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
Foreign currency translation adjustment account reversal gain
Gain on transfer of investments in affiliated companies
Total extraordinary gain
Extraordinary loss
Loss on retirement of noncurrent assets
Impairment loss
Loss on valuation of investment securities
Loss on liquidation of subsidiaries
Total extraordinary loss
Profit before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Net incomeProfit attributable to non-controlling interests
Profit attributable to owners of parent

September 30, 2021
44,49933,404
11,094September 30, 2022
46,42136,372
10,048

1,875
823
1,715
350
76
1,733
6,574
4,520

1,738
1,197
1,715
367
85
1,841
6,944
3,103

14
343
212
96
68
64
799

20
449
271
336
76
1,155

16
72
36
125
5,194

17
62
132
69
281
3,977

-2
277
649
929

3
456
460
4,734
1,330
92
1,423
3,311
48
3,262

0663
38
2
705
4,201
1,566
△ 247
1,318
2,882
365
2,517

Consolidated Quarterly Statements of Comprehensive Income
Six months ended September 30, 2022
(Millions of yen)Six months ended

Six months ended
Net income
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, net of tax
Share of other comprehensive income of associates accounted for using
equity method
Total accumulated other comprehensive income
Comprehensive income(comprehensive income attributable to)Comprehensive income attributable to owners of the parentComprehensive income attributable to non-controlling interests

September 30, 2021
3,311

September 30, 2022
2,882

△ 106
6795
14△ 186
242,41122△ 255

712
4,024

1,997
4,879

3,903
120

4,619260

Quarterly consolidated statement of cash flows(Millions of yen)Six months ended

Six months ended
September 30, 2021

September 30, 2022

4,734
1,195
456
37△325△ 358
16△2△ 96
32,084△ 1,400
308
1,161
△ 577
67,592358△ 16△ 2,109
55
5,881

4,201
1,145663
57△674△ 29△ 470
17△5132△20382△ 649
△ 277
△ 981
△ 2,056△ 378
2,367△ 89303,785725△ 17△ 840
3,651

△ 1,635
1,635
△ 158

△ 1,6351,635-

Expenditure from deposits in long-term deposits-△ 1,300

Proceeds from transfer of equity in affiliated companies resulting inchange in scope of application of equity method-2,273Purchase of property, plant and equipment and intangible assets
Proceeds from sales of property, plant and equipment and intangible
assetsPurchase of investment securities△ 1,161△ 2,04605△8△ 10Other, net
Cash flows from investing activities

12△ 1,315△7△ 1,085

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Increase (decrease) in provision for bonuses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in net defined benefit liability
Increase (decrease) in other provisionInterest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using equity method
Loss (gain) on sales of non-current assets
Loss on retirement of non-current assets
Loss (gain) on valuation of investment securities
Loss on liquidation of subsidiaries
Gain on transfer of investments in affiliated companies
Foreign currency translation adjustment account reversal gain
Decrease (increase) in notes and accounts receivable – trade
Decrease (increase) in inventories
Decrease (increase) in other assets
Increase (decrease) in notes and accounts payable – trade
Increase (decrease) in other liabilities
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Income taxes refund
Cash flows from operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Payments for building demolition costs

Six months ended
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Cash dividends paid
Dividends paid to non-controlling interests
Purchase of treasury shares
Other, net
Cash flows from financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of six months ended(Millions of yen)Six months ended

September 30, 2021

September 30, 2022

△ 64△ 33
△ 935
△ 13△ 852
△ 121
△ 2,021426
2,970
28,052
31,022

△ 170
100
△ 145
△ 1,008
△ 13
△ 904
△ 486
△ 2,628
1,272
1,210
31,81033,020Information about net sales,profit or loss,assets,liabilities and other items by reportable segment
Six months ended September 30, 2021
(Millions of yen)
Reportable segment

IndustrialProductsHousehold
Products(*)Other

Total

Total

(***)Amountrecorded on the(**)Adjustment consolidated
quarterlystatements

Net sales

28,270

16,10044,371

128

44,499-44,499

42232

274

1,660

1,935

△ 1,935-

Total

28,313

16,33344,646

1,788

46,434△ 1,935

44,499Segment profit (loss)

1,355

3,964

5,320

167

5,488

△ 967

4,520

Sales to external customers
Intersegment sales ortransfers* The Other category is the business segment that is not included in the reportable segments, and include the group logistics

business.
** Adjustment is as follows:(1) The adjustment to segment profit represents negative 20 million yen in intersegment eliminations and company-wide expenses
negative 988 milion yen. The company-wide expeses mainly include general and administrative expenses that are not attributable
to the reported segments.
*** Segment profit is coordinated with the operating income in the consolidated statements.
※ In the Industrial Products business and the Household Products business segment, impairment loss on fixed assets wasrecorded at 456 million yen. The impairment loss was recorded at 239 million yen in the Industrial Products business and
217 million yen in the Household Products business for the first quarter of the fiscal year ended March 31, 2022.

Six months ended September 30, 2022
(Millions of yen)
Reportable segment

Industrial
ProductsHousehold
Products(*)Other

Total

Total

(***)Amountrecorded on the(**)Adjustment consolidated
quarterlystatements

Net sales

30,071

16,263

46,33486

46,421-

46,421

63

271

335

1,688

2,024

△ 2,024-

Total

30,134

16,53546,6701,775

48,445△ 2,024

46,421

Segment profit (loss)

△ 115

4,101

3,985

179

4,165

△ 1,061

3,103

Sales to external customers
Intersegment sales ortransfers* The Other category is the business segment that is not included in the reportable segments, and include the group logistics

business.
** Adjustment is as follows:(1) The adjustment to segment profit represents negative 21 million yen in intersegment eliminations and company-wide expenses
negative 1,083 milion yen. The company-wide expenses mainly include general and administrative expenses that are not attributable
to the reported segments.
*** Segment profit is coordinated with the operating income in the consolidated statements.
※ In the Industrial Products business and the Household Products business segment, impairment loss on fixed assets wasrecorded at 663 million yen. The impairment loss was recorded at 620 million yen in the Industrial Products business and42 million yen in the Household Products business for the first quarter of the fiscal year ended March 31, 2023.