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.

July 27, 2023

Non-consolidated Financial Results
for the Three Months Ended June 30, 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: August 10, 2023
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 Three Months Ended June 30, 2023 (April 1, 2023 to June 30, 2023)(1) Non-consolidated Operating Results(% indicates year-on-year changes.)
Net sales
Three months ended
June 30, 2023
June 30, 2022

Three months ended
June 30, 2023
June 30, 2022

Million yen

8,908
7,353

Operating profit%

21.2
3.8

Basic earnings
per share

Million yen

Ordinary profit
%

399
(60)

––

Million yen

Profit%

456
(43)

––

Diluted earnings
per share
Yen

Yen

36.22
(5.23)(2) Non-consolidated Financial Position
Total assets
Million yen––Net assets

As of June 30, 2023
43,921
As of March 31, 2023
44,760(Reference) Equity: As of June 30, 2023: ¥ 36,043 million
As of March 31, 2023: ¥ 36,225 million

Million yen

36,04336,225Equity ratio
%

82.1
80.9

Million yen

336
(48)

%

––

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–
Fiscal year ending March 31, 2024
55.00
(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%First half
18,000 12.0
600 112.3
650 108.1
Full year
40,0005.9
2,900 25.7
2,950 24.8(Note) Revision to the financial results forecast announced most recently: No

Million yen%

400 103.2
1,980 21.6

Yen

43.07
213.20* 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 June 30, 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 June 30, 2023: 1,615,724 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):Three months ended June 30, 2023: 9,287,544 shares
Three months ended June 30, 2022: 9,285,388 shares(Note) The number of treasury shares deducted in calculating the total number of treasury shares at the end of theperiod and 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 (June30, 2023: 178,500 shares; March 31, 2023: 178,500 shares; June 30, 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 .............. 3
3. 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 three months ended June 30, 2023, the Japanese economy suffered from concerns regarding theimpact of the downturn in overseas economic conditions on the domestic economy amid continued global
monetary tightening. On the other hand, thanks to policy changes in response to COVID-19, steady progress wasmade towards the normalization of economic activities, and the economy gradually recovered 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 three months ended June 30, 2023, we achieved significant growth in net
sales, orders received, and order backlog, all of which reached their highest amounts ever recorded for thecorresponding three months. In terms of net sales by application, the office segment grew steadily, driven bystrong office demand in major urban areas, particularly in the Tokyo metropolitan area. The segments of welfare
and healthcare facilities, school and sports facilities, and factories also showed favorable progress. By productcategory, net sales of relocatable partitions, toilet booths, and movable partitions were robust due to the increase
in office demand. Net sales of fixed partitions also showed positive growth thanks to the rising demand fromschool and sports facilities, as well as factories.
Total net sales amounted to ¥8,908 million, representing a 21.2% increase compared to the same period of theprevious fiscal year.
On the profitability front, the adjustment of selling prices in response to the rise in raw material prices waswidely adopted. As a result, the gross profit margin was 33.2% (a 2.1-point improvement year on year), leading
to an operating profit of ¥399 million, an ordinary profit of ¥456 million, and a profit of ¥336 million.
Net sales, orders received, and order backlog by item for the three months ended June 30, 2023 are as follows.
Net Sales, Orders Received, and Order Backlog by Item

(Million yen)Three months ended June 30, 2023(from April 1, 2023 to June 30, 2023)
Item
Relocatable partitions
Fixed partitions
Toilet booths
Movable partitions
Low partitions
OthersTotalNet sales
Year-on-year
Amountchange (%)
4,098
122.4
1,797
122.6
1,305
121.5
1,273
118.7
146
110.6
286
111.1
8,908
121.2

Orders received
Year-on-year
Amountchange (%)
4,436
109.0
2,968
154.6
1,934
106.3
1,442
87.3
156
113.5
290
104.2
11,228113.7

Order backlog
Year-on-year
Amountchange (%)
4,535
110.3
5,477
119.8
3,759
117.0
4,562
107.1
97
129.0
433
102.8
18,866113.3(2) Explanation of Financial Position
Regarding the financial position as of the end of the first quarter of the fiscal year under review, total assets
decreased by ¥839 million from the end of the previous fiscal year, to ¥43,921 million.
In terms of assets, current assets decreased by ¥601 million from the end of the previous fiscal year, to ¥29,398
million. This is mainly due to a decrease in notes and accounts receivable - trade, and contract assets of ¥2,097
million, and an increase in cash and deposits of ¥1,413 million. Non-current assets decreased by ¥238 million
from the end of the previous fiscal year, to ¥14,522 million. This is mainly due to a decrease in insurance funds
included in investments and other assets of ¥198 million.
In terms of liabilities, current liabilities decreased by ¥569 million from the end of the previous fiscal year, to¥5,529 million. This is mainly due to decreases in income taxes payable of ¥681 million, provision for bonusesof ¥675 million, and accounts payable - trade of ¥617 million, as well as an increase in accounts payable personnel expenses included in “Other” under current liabilities of ¥1,430 million. Non-current liabilities
decreased by ¥88 million from the end of the previous fiscal year, to ¥2,348 million.
In terms of net assets, the total amount of net assets decreased by ¥181 million from the end of the previous
fiscal year, to ¥36,043 million. This is mainly due to the payment of dividends of surplus of ¥520 million and therecording of profit of ¥336 million, which resulted in a decrease in retained earnings of ¥184 million. As a result,2

the equity ratio stood at 82.1%.

(3) Explanation of Non-consolidated Financial Results Forecast and Other Forward-looking Information
The financial results forecast for the six months ending September 30, 2023 and the fiscal year ending March31, 2024 has not changed from the financial results forecast announced on April 27, 2023.

2. Matters Related to Summary Information (Notes)(1) Adoption of Accounting Treatment Specific to the Preparation of Quarterly Non-consolidated FinancialStatements
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
Other
Accumulated depreciation
Total property, plant and equipment
Intangible assets
Investments and other assets
Other
Allowance 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 June 30, 2023

15,57916,992

10,253

8,156

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

2,987
1,057
205
(0)
29,398

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

11,412
7,634
4,646
1,840
(13,532)
12,000
408

2,425
(6)
2,418
14,76044,7602,120(6)2,114
14,522
43,921

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

1,728
51
575
3,173
5,529

1,810

1,822

86–

209

167

330
2,437
8,535

358
2,348
7,877

(Million yen)
As of March 31, 2023
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury 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

5As of June 30, 2023

3,099
3,035
32,627(2,582)
36,1803,099
3,035
32,442(2,582)35,99545
45
36,22544,760474736,04343,921

(2) Quarterly Non-consolidated Statements of Income(Three Months Ended June 30)(Million yen)

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

6

For the three months
ended June 30, 2022
7,353
5,065
2,287
2,347
(60)

For the three months
ended June 30, 2023
8,908
5,948
2,960
2,561
399

0
5
–
6316(43)

04
41
6457
456

0000

00(43)
14(8)
5(48)

–
–
457
16104
121336(3) 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