This document is an English translation of the original document in Japanese and has been prepared for reference purposes
only. In the event of any discrepancy between this English translation and the original in Japanese, the original shallprevail.

January 25, 2024

Non-consolidated Financial Results
for the Nine Months Ended December 31, 2023
[Under Japanese GAAP]
Company name: KOMATSU WALL INDUSTRY CO., LTD.
Listing: Tokyo Stock Exchange
Securities code: 7949
URL: https://www.komatsuwall.co.jp/
Representative: Shinya Kano, Representative Director, President & CEO
Contact: Yukio Aya, Director and Managing Executive Officer, General Manager of Administration Headquarters
Telephone: +81-761-21-3131
Scheduled date of filing quarterly securities report: February 9, 2024
Scheduled date of commencing dividend payments: –Availability of supplementary briefing material on quarterly financial results: Available
Schedule of quarterly financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Non-consolidated Financial Results for the Nine Months Ended December 31, 2023 (April 1, 2023 to December
31, 2023)(1) Non-consolidated Operating Results(% indicates year-on-year changes.)
Net sales
Nine months ended
December 31, 2023
December 31, 2022

Nine months ended
December 31, 2023
December 31, 2022

Million yen

31,35826,122

Operating profit
%

20.0
5.9

Basic earnings
per share

Million yen

Ordinary profit%

2,605 145.1
1,063
15.9

Million yen

Profit%2,688 142.5
1,108 14.0

Diluted earnings
per share
Yen

198.82
77.83(2) Non-consolidated Financial Position
Total assets
Million yen

Yen––Net assets
Million yen

37,110
As of December 31, 2023
44,84336,225
As of March 31, 2023
44,760(Reference) Equity: As of December 31, 2023: ¥37,110 million
As of March 31, 2023: ¥36,225 million

Equity ratio
%

82.8
80.9

Million yen%

1,850 156.1
722 15.9

2. Dividends
1stquarter-end

2ndquarter-end

Yen

Yen

Annual dividends
3rdYear-end
quarter-end
Yen

Fiscal year ended March 31, 2023–
40.00
Fiscal year ending March 31, 2024–
55.00
Fiscal year ending March 31, 2024
(Forecast)(Note) Revision to the dividends forecast announced most recently: NoYen––

TotalYen

55.00

95.00

65.00

120.003. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March31, 2024)(% indicates year-on-year changes.)
Basic earnings
Net sales
Operating profit
Ordinary profit
Profitper share
Million yen%

Million yen%

Million yen%

Full year
41,5009.9
3,400 47.4
3,470 46.8(Note) Revision to the financial results forecast announced most recently: No

Million yen

2,320%

42.5

Yen

249.44* Notes:(1) Adoption of accounting treatment specific to the preparation of quarterly non-consolidated financial statements: No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
As of December 31, 2023: 10,903,240 shares
As of March 31, 2023: 10,903,240 shares2) Total number of treasury shares at the end of the period:
As of December 31, 2023: 1,580,351 shares
As of March 31, 2023: 1,615,689 shares
3) Average number of shares during the period (cumulative from the beginning of the fiscal year):Nine months ended December 31, 2023: 9,308,123 shares
Nine months ended December 31, 2022: 9,286,835 shares(Note) The total number of treasury shares at the end of the period and the number of treasury shares deducted incalculating the average number of shares during the period includes the Company’s shares held by Custody
Bank of Japan, Ltd. (Trust E Account) as trust assets related to the Board Benefit Trust (BBT) system(December 31, 2023: 143,000 shares; March 31, 2023: 178,500 shares; December 31, 2022: 178,500 shares).
* Quarterly financial results are outside the scope of quarterly review by certified public accountants or audit firms.
* Explanation of the proper use of financial results forecast and other notes
The financial results forecasts and other forward-looking statements herein are based on the information currentlyavailable to the Company and certain assumptions deemed reasonable. Actual results may differ significantly fromthese forecasts due to a wide range of factors. For the conditions underlying the financial results forecast and theprecautions for using the financial results forecast, please refer to page 3 of the attached document, “1. Qualitative
Information on Quarterly Financial Results for the Period under Review, (3) Explanation of Non-consolidated
Financial Results Forecast and Other Forward-looking Information.”Table of Contents - Attachments
1. Qualitative Information on Quarterly Financial Results for the Period under Review .................................. 2(1) Explanation of Operating Results .............................................................................................................. 2(2) Explanation of Financial Position .............................................................................................................. 2(3) Explanation of Non-consolidated Financial Results Forecast and Other Forward-looking Information ... 3
2. Matters Related to Summary Information (Notes) ......................................................................................... 3(1) Adoption of Accounting Treatment Specific to the Preparation of Quarterly Non-consolidated FinancialStatements .................................................................................................................................................. 3(2) Changes in Accounting Policies, Changes in Accounting Estimates and Retrospective Restatement .............. 33. Important Events Related to Going Concern Assumption .............................................................................. 3
4. Quarterly Non-consolidated Financial Statements and Primary Notes .......................................................... 4(1) Quarterly Non-consolidated Balance Sheets .............................................................................................. 4(2) Quarterly Non-consolidated Statements of Income ................................................................................... 6(3) Notes to the Quarterly Non-consolidated Financial Statements ................................................................. 7(Notes to Going Concern Assumption) ....................................................................................................... 7(Notes in the Case of Significant Changes in Shareholders’ Equity) .......................................................... 71

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the nine months ended December 31, 2023, the Japanese economy suffered from concerns regarding
the impact on the domestic economy of the downturn in overseas economic conditions due to global monetary
tightening. On the other hand, thanks to policy changes in response to COVID-19, steady progress was madetowards the normalization of economic activities, and the economy maintained gradual recovery with animprovement in employment and income conditions.
Under this situation, the Company pursued three basic policies based on the medium-term management plan,“NEXT VISION 2028,” which started in the current fiscal year: “Growth of existing partition business,”“Creation of new products,” and “Enhancement of production and logistics operations.”
Regarding operating results for the nine months ended December 31, 2023, the office segment grew steadily,
driven by strong office demand in major urban areas, particularly in the Tokyo metropolitan area. The segmentsof school and sports facilities, welfare and healthcare facilities, and factories also showed favorable progress. Asa result, net sales amounted to ¥31,358 million (up 20.0% year on year). The adjustment of selling prices in
response to the rise in raw material prices was widely adopted at a high level, which also contributed to theincrease in net sales. By product category, net sales of relocatable partitions were particularly robust due to theincrease in office demand. Orders received totaled ¥34,060 million (up 10.9% year on year), with fixed partitions
showing positive growth in particular. Order backlog totaled ¥19,248 million (up 2.8% year on year), maintaining
the increasing trend.
On the profitability front, the adjustment of selling prices was widely adopted. As a result, the gross profit
margin was 33.8% (a 1.8-point improvement year on year), leading to an operating profit of ¥2,605 million (up145.1% year on year), an ordinary profit of ¥2,688 million (up 142.5% year on year), and a profit of ¥1,850
million (up 156.1% year on year).
Net sales, orders received, and order backlog by item for the nine months ended December 31, 2023 are asfollows.
Net Sales, Orders Received, and Order Backlog by Item

(Million yen)

Nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)
Item
Relocatable partitions
Fixed partitions
Toilet booths
Movable partitions
Low partitions
OthersTotal

Net sales
Year-on-year
Amountchange (%)
13,214
123.4
6,734
123.5
5,702
118.8
4,284
113.2
431
106.7
992
102.3
31,358120.0

Orders received
Year-on-year
Amountchange (%)
13,709
113.3
8,250
132.8
6,445
106.9
4,320
88.4
418
93.8
916
88.7
34,060110.9

Order backlog
Year-on-year
Amountchange (%)
4,692
98.1
5,822
119.4
3,874
104.7
4,429
92.6
74
66.4
354
76.3
19,248102.8(2) Explanation of Financial Position
Regarding the financial position as of the end of the third quarter of the fiscal year under review, total assets
increased by ¥82 million from the end of the previous fiscal year, to ¥44,843 million.
In terms of assets, current assets increased by ¥221 million from the end of the previous fiscal year, to ¥30,221million. This is mainly due to increases in inventories of ¥222 million and electronically recorded monetaryclaims - operating of ¥186 million, despite a decrease in notes and accounts receivable - trade, and contract assetsof ¥140 million. Non-current assets decreased by ¥138 million from the end of the previous fiscal year, to ¥14,622
million.
In terms of liabilities, current liabilities decreased by ¥769 million from the end of the previous fiscal year, to¥5,328 million. This is mainly due to decreases in provision for bonuses of ¥625 million and income taxes payableof ¥536 million, despite an increase in accounts payable - trade of ¥100 million. Non-current liabilities decreasedby ¥31 million from the end of the previous fiscal year, to ¥2,405 million.
In terms of net assets, the total amount of net assets increased by ¥884 million from the end of the previous
fiscal year, to ¥37,110 million. As a result, the equity ratio stood at 82.8%.
2

(3) Explanation of Non-consolidated Financial Results Forecast and Other Forward-looking Information
We pray for the souls of those who lost their lives in the 2024 Noto Peninsula Earthquake and extend ourdeepest sympathies to all those affected by the disaster. Luckily, there were no injuries to our employees as aresult of the earthquake, and damage to buildings and production facilities at our head office and factories wasminor. As for the impact of the damages incurred by some suppliers, as announced in our “Notice of Impact of2024 Noto Peninsula Earthquake (Third Report)” released on January 23, 2024, we have confirmed that theaffected suppliers have resumed operations and are taking measures such as securing alternative procurement
sources. Therefore, we currently expect the impact on production to be minimal.
The impact of the earthquake on the Company's business performance is expected to be negligible. Therefore,
the non-consolidated financial results forecast for the fiscal year ending March 31, 2024 is as announced in“Notice on Difference Between Non-consolidated Financial Results Forecast and Actual Results for the Six
Months Ended September 30, 2023 and Revision to Non-consolidated Financial Results Forecast for the Fiscal
Year Ending March 31, 2024,” released on October 26, 2023. We will make an announcement promptly if we
forecast the earthquake to cause any significant impact on our business performance.

2. Matters Related to Summary Information (Notes)(1) Adoption of Accounting Treatment Specific to the Preparation of Quarterly Non-consolidated Financial
Statements
There are no applicable matters.
(2) Changes in Accounting Policies, Changes in Accounting Estimates and Retrospective Restatement
There are no applicable matters.

3. Important Events Related to Going Concern Assumption
There are no applicable matters.

3

4. Quarterly Non-consolidated Financial Statements and Primary Notes(1) Quarterly Non-consolidated Balance Sheets(Million yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims - operating
Inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, equipment and vehicles
Land
OtherAccumulated depreciation
Total property, plant and equipment
Intangible assets
Investments and other assets
OtherAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Provision for retirement benefits for directors (andother officers)
Provision for share awards for directors (and otherofficers)
Other
Total non-current liabilities
Total liabilities

4

As of December 31, 2023

15,57915,583

10,253

10,113

2,929
1,023
214
(0)
29,999

3,116
1,246
162
(0)
30,221

11,396
7,622
4,646
1,621
(13,364)
11,922420

11,604
7,681
4,646
1,639
(13,680)
11,890
387

2,425
(6)
2,418
14,76044,760

2,351
(6)
2,344
14,622
44,843

2,345
732
1,250
1,769
6,098

2,446
196
625
2,060
5,328

1,810

1,863

86–

209

188

330
2,437
8,535

352
2,405
7,733

(Million yen)
As of March 31, 2023
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earningsTreasury shares
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

5

As of December 31, 2023

3,099
3,035
32,627(2,582)
36,1803,099
3,035
33,436(2,525)37,04645
45
36,22544,76063
63
37,11044,843

(2) Quarterly Non-consolidated Statements of Income(Nine Months Ended December 31)(Million yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expensesOperating profit
Non-operating income
Interest income
Dividend income
Insurance claim income
Rental income from buildings
Other
Total non-operating income
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on sale and retirement of non-current assets
Loss on sale of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit

For the nine months
ended December 31, 2022
26,122
17,7738,348
7,285
1,063

For the nine months
ended December 31, 2023
31,35820,767
10,590
7,985
2,605

011–
1913
45
1,1080
841
16
16
83
2,688

128
290
18
18

60
6
1,131
240
168
408
722

1
–
1
2,706
632
222
855
1,850

6

(4) Notes to the Quarterly Non-consolidated Financial Statements(Notes to Going Concern Assumption)
There are no applicable matters.
(Notes in the Case of Significant Changes in Shareholders’ Equity)
There are no applicable matters.

7