DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of
the original Japanese document. In cases where any differences occur between the English version and the original Japaneseversion, the Japanese version shall prevail. This translation is subject to change without notice.

Consolidated Financial Results for the First Six Months of
the Fiscal Year Ending March 31, 2024
<under Japanese GAAP>

November 1, 2023
ORGANO CORPORATIONTokyo Stock Exchange
6368
https://www.organo.co.jp/english/
Masayuki Yamada, Representative Director and President
Shigeru Sonobe, General Manager of Accounting Dept., Corporate Management andPlanning
TEL:+81-3-5635-5111
Scheduled date to file quarterly securities report:
November 10, 2023
Scheduled date to commence dividend payments:
December 4, 2023
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results presentation meeting:Yes (for institutional investors andanalysts)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Consolidated financial results for the first six months of the fiscal year ending March 31, 2024
(from April 1, 2023 to September 30, 2023)(1) Consolidated operating results (cumulative)
Net sales(Percentages indicate year-on-year changes.)

Operating profit

Millions of yen% Millions of yen%
Six months ended
September 30, 2023
65,469
5.4
7,855
20.7
September 30, 2022
62,117
24.2
6,510
72.6
Note:
Comprehensive income: Six months ended September 30, 2023
Six months ended September 30, 2022

Basic earnings
per share

Profit attributable toowners of parent

Ordinary profit
Millions of yen%

Millions of yen

%

8,539
14.6
7,451
77.7
¥6,615 million [6.2%]¥6,231 million [93.5%]

5,538
5,027

10.2
86.4

Diluted earnings
per share

Yen
Yen
Six months ended
September 30, 2023
120.64–September 30, 2022
109.67–The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Basic earnings per share arecalculated on the assumption that said share split was conducted at the beginning of the previous fiscal year.

(2) Consolidated financial position
Total assets
Millions of yen
As ofSeptember 30, 2023
170,628
March 31, 2023
164,854(Reference) Equity: As of September 30, 2023 ¥91,330 million

Net assets

Equity-to-asset ratio

Millions of yen

91,56486,371
As of March 31, 2023

%

53.5
52.3
¥86,170 million

2. Cash dividends
Annual dividends per shareFirst quarter-end Second quarter-end Third quarter-end
Yen

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

Yen–

116.00–

41.00

Fiscal year-end

Yen

Total

Yen

–

Yen

33.00

–

Fiscal year ending
March 31, 2024
–
41.00
82.00
(Forecast)
Note:
Revisions to the forecast of cash dividends most recently announced: None
The Company conducted a 4-for-1 common share split effective as of October 1, 2022. The second quarter-end dividend pershare for the fiscal year ended March 31, 2023 was stated before taking into account the effect of this share split, and the total
annual dividend for the year was stated as “–.” The annual dividend per share for the fiscal year ended March 31, 2023 thathas been calculated based on post-share split figures is ¥62.

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
Millionsof yenOperating profit%

Millionsof yenProfit attributable toowners of parent

Ordinary profit%

Millionsof yenFiscal year ending
150,000
13.3
20,00031.5
20,700March 31, 2024
Note:
Revisions to the earnings forecasts most recently announced: None

%

29.2

Millionsof yen14,000Basicearnings
per share

%

Yen

19.3

304.95

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): None
(2) Application of specific accounting for preparing the quarterly consolidated financial statements: Yes
Note:

For more details, please refer to “Application of special accounting for preparing the quarterly consolidated
financial statements” on page 10 of the attached material.

(3) Changes in accounting policies, changes in accounting estimates, and restatementa. Changes in accounting policies due to revisions to accounting standards and other regulations: Noneb. Changes in accounting policies due to other reasons: Nonec. Changes in accounting estimates: None
d. Restatement: None
(4) Number of issued shares (common shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2023

46,359,700 shares

As of March 31, 2023

46,359,700 sharesb. Number of treasury shares at the end of the period
As of September 30, 2023

415,367 shares

As of March 31, 2023

470,795 sharesc. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal
year)
For the six months ended September 30, 2023

45,908,622 shares

For the six months ended September 30, 2022
45,842,128 shares
1. The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Average number ofshares outstanding during the period is calculated on the assumption that said share split was conducted at the
beginning of the previous fiscal year.
2. The Company has introduced an Officer Share Delivery Trust, and shares of the Company held by the Trust
have been included in treasury shares excluded from the calculation of the number of treasury shares at the endof the period and the average number of shares outstanding during the period (cumulative from the beginning of
the fiscal year).

* 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(Caution regarding forward-looking statements and others)
The forward-looking statements, including earnings forecasts, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable.
Consequently, any statements herein do not constitute assurances regarding actual results by theCompany. Actual business and other results may differ substantially due to various factors. Please referto “(3) Explanation regarding consolidated earnings forecasts and other forward-looking statements” in“1. Qualitative information regarding financial results for the first six months” on page 4 of the attachedmaterial for the suppositions that form the assumptions for earnings forecasts and cautions concerning
the use thereof.

Attached Material

Index
1. Qualitative information regarding financial results for the first six months ...................................... 2(1) Explanation regarding operating results .......................................................................................... 2(2) Explanation regarding financial position ......................................................................................... 3(3) Explanation regarding consolidated earnings forecasts and other forward-looking statements 4
2. Quarterly consolidated financial statements and significant notes thereto ........................................ 5(1) Consolidated balance sheet ................................................................................................................ 5(2) Consolidated statement of income and consolidated statement of comprehensive income.......... 7
Consolidated statement of income (cumulative) .............................................................................. 7
Consolidated statement of comprehensive income (cumulative) .................................................... 8(3) Consolidated statement of cash flows ............................................................................................... 9(4) Notes to quarterly consolidated financial statements .................................................................... 10
Notes on premise of going concern .................................................................................................. 10
Notes on substantial changes in the amount of shareholders’ equity ........................................... 10
Application of special accounting for preparing the quarterly consolidated financial statements............................................................................................................................................................ 10
Segment information, etc. ................................................................................................................ 11
Significant subsequent events .......................................................................................................... 12- 1 -1. Qualitative information regarding financial results for the first six months(1) Explanation regarding operating results
During the six months ended September 30, 2023 (April 1, 2023 to September 30, 2023), the global
economy was proceeding under conditions of a more pronounced shadow of weak growth amid observed
slowing of economic activity in China and Europe, including declining volumes of global trade due tothe expansion of U.S. restrictions on semiconductors from China, and protraction of the economic rift
between the Western states and Russia.
With regard to the environment in which the Organo Group operates, the electronics industry, our mainmarket, is currently seeing sluggish conditions in the semiconductor market, particularly for memory.
Nevertheless, a high level of capital investment is expected, with multiple large-scale investments in theplanning stage amid signs of a rebuilding of the global supply chain and a forecast for growing demand
for semiconductors over the long term. The general industry field, and the social infrastructure field, suchas electric power/water supply and sewage, remained strong.
Under these conditions, the Organo Group proceeded to draw in orders and make deliveries for largescale projects in Japan and overseas, while establishing engineering solutions frameworks andstrengthening supply chains, etc. to increase our production and delivery capacity and improve theefficiency thereof. We also engaged in initiatives to enhance R&D aimed at the creation of the nextgeneration technology and new businesses, and worked on strengthening initiatives for governance andsustainability.
As a result, in the Group’s financial results for the six months ended September 30, 2023, orders received
decreased by 2.7% year on year to ¥76,150 million, net sales increased by 5.4% to ¥65,469 million,
operating profit increased by 20.7% to ¥7,855 million, ordinary profit increased by 14.6% to ¥8,539
million, profit attributable to owners of parent increased by 10.2% to ¥5,538 million, and our carry-overbalance for order backlog as of September 30, 2023 was up 23.6% to ¥132,833 million.
Results by segment are as follows.
[Water Treatment Engineering Business Unit]■Orders received
Orders received decreased 4.2% year on year to ¥65,084 million. In the electronics field, we saw a decline
in orders received in the Plant Division, due to a rebound from the orders we received in the same periodof the previous fiscal year for large-scale semiconductor projects in countries including Japan and China.
However, the Service Solutions Division performed strongly, including various maintenance services andfacility-owned services. In addition, in the general industry field, the social infrastructure field, which
includes electronics peripherals and pharmaceuticals, saw increased orders received compared with thesame period of the previous fiscal year, due to orders for plant projects, including those for power plants
and water purification plants.
■Net sales
Net sales increased 4.5% year on year to ¥54,419 million. In the electronics field, despite construction
schedule delays for certain projects in China and Taiwan, net sales remained on par with the same periodof the previous fiscal year, owing to steady progress on the construction of the large-scale projects inJapan, and strong performance in the Service Solutions Division, including various maintenance services
and facility-owned services. In the general industry field, net sales increased, mainly as a result ofrecording sales of a plant project ordered in the previous year, and growth in sales in the Service Solutions
Division. On the other hand, in the social infrastructure field, such as electric power/water supply andsewage, net sales declined slightly mainly due to lower sales from plant projects.
■Operating profit
Operating profit increased 21.3% year on year to ¥6,585 million. In addition to the effects of greater
revenue resulting from higher sales, in the electronics and general industry fields, we achieved
improvements in the profitability rate of projects mainly through cost reductions in plant projects andvarious profitability improvement initiatives. The Service Solutions Division performed favorably invarious maintenance services and facility-owned services, etc. As a result, gross profit grew, offsetting- 2 -rises in expenses such as personnel expenses, research and development expenses and outsourcing
expenses, and resulting in an increase in operating profit.
[Performance Products Business Unit]■Orders received/Net sales
Orders received increased 7.8% year on year to ¥11,065 million and net sales increased 10.1% year on
year to ¥11,050 million. Strong sales were achieved in the water treatment chemicals field, mainly salesof various chemicals for the electronics industry, in the standard equipment and filters field, mainly salesof small-scale pure water production equipment and water purification filters for industrial use, and in
the food products field, mainly sales of various food processing agents.
■Operating profit
Operating profit increased 17.6% year on year to ¥1,270 million. Operating profit increased as a resultof the increased sales in the water treatment chemicals field, standard equipment and filters field andfood products field covering for the impact of increased expenses, including rising costs such as raw
material prices and personnel expenses.
(2) Explanation regarding financial position
Assets, liabilities and net assets
AssetsAssets as of September 30, 2023 amounted to ¥170,628 million, an increase of ¥5,774 million from theprevious fiscal year end. This was mainly due to an increase of ¥19,140 million in investments in leases,
despite a decrease of ¥13,872 million in work in process.
Liabilities
Liabilities as of September 30, 2023 amounted to ¥79,064 million, an increase of ¥581 million from theprevious fiscal year end. This was mainly due to an increase of ¥4,814 million in contract liabilities,
despite a decrease of ¥3,632 million in notes and accounts payable - trade.
Net Assets
Net assets as of September 30, 2023 amounted to ¥91,564 million, an increase of ¥5,192 million fromthe previous fiscal year end. This was mainly due to an increase of ¥4,019 million in retained earnings
resulting from the recording of profit attributable to owners of parent.
Cash flows
Cash and cash equivalents (hereinafter, “cash”) as of September 30, 2023 decreased by ¥767 million
from the previous fiscal year end to ¥14,790 million.
Cash flows from operating activities
Net cash provided by operating activities for the six months ended September 30, 2023 was ¥39 million.
This was mainly because there was an increase in cash from the recording of profit before income taxes,
etc. while there was a decrease in cash due to construction of contract water treatment facilities, etc. (Netcash of ¥10,848 million was used in the six months ended September 30, 2022.)
The increase in investments in leases of ¥19,140 million and the decrease in inventories of ¥12,016
million in the statement of cash flows were mainly due to the transfer from inventories to investments inleases due to the completion of contract water treatment facilities.
Cash flows from investing activities
Net cash used in investing activities for the six months ended September 30, 2023 was ¥808 million. Thiswas mainly due to purchase of property, plant and equipment of ¥624 million. (Net cash of ¥779 million
was used in the six months ended September 30, 2022.)
Cash flows from financing activities
Net cash used in financing activities for the six months ended September 30, 2023 was ¥455 million.
This was mainly because there was a decrease in cash due to dividends paid of ¥1,518 million andrepayments of long-term borrowings of ¥900 million while there was an increase in cash due to a netincrease in short-term borrowings of ¥2,047 million. (Net cash of ¥3,162 million was provided in the six
months ended September 30, 2022.)- 3 -(3) Explanation regarding consolidated earnings forecasts and other forward-looking statements
With respect to the full-year earnings forecasts for the fiscal year ending March 31, 2024, although there
have recently been delays in investment plans, construction schedules, etc. for some projects in theelectronics industry, there have not been any suspensions or cancellations of ordered projects. Moreover,concerning future investment plans, our main customers in Japan and overseas are making multiple plansfor investment, looking to break-up manufacturing bases for semiconductors and in anticipation of
growth in demand for semiconductors in the medium to long term. With this in mind, we generally expect
earnings to progress as originally forecasted. Accordingly, we are expecting orders received on par with
the initial forecast of ¥150,000 million (down 13.5% year on year), and net sales of ¥150,000 million (up13.3% year on year). Regarding profits, the Company is expecting to achieve a level of profits exceeding
the initial forecast mainly due to the improvement in the profitability rate of plant projects and the strong
performances from the Service Solutions Division and the Performance Products Business Unit.
Accordingly, we expect operating profit of ¥20,000 million (up 31.5% year on year), ordinary profit of¥20,700 million (up 29.2% year on year), and profit attributable to owners of parent of ¥14,000 million(up 19.3% year on year).
The Company will revise its forecasts appropriately according to the situation, based on each businesssegment and the trends in each country and region.

- 4 -2. Quarterly consolidated financial statements and significant notes thereto(1) Consolidated balance sheet(Millions of yen)
As of March 31, 2023

As of September 30, 2023

15,558

14,79072,85768,727

2,826

2,728

9,853
7,165
21,886
1,744
4,891
(17)
136,765

28,994
8,668
8,013
2,239
8,168
(21)
142,309

19,183(13,104)
6,078
6,582
(5,452)
1,129
12,296
118
5,955(4,784)
1,171
20,795949

19,313(13,365)
5,947
6,682
(5,654)
1,027
12,308120
6,217(4,963)
1,254
20,658
951

2,430
815
2,673
596
(171)
6,343
28,088164,854

2,777
907
2,617
590
(183)
6,709
28,319170,628

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, andcontract assets
Electronically recorded monetary claims operating
Investments in leases
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
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 5 -(Millions of yen)
As of March 31, 2023

As of September 30, 2023

20,904
4,640
29,124
3,014
3,007
1,594
548
512

17,272
4,059
31,633
2,706
7,822
2,021
1,051
176

105

51

5,284
68,738

3,421
70,216

3,895
91
5,511
245
9,744
78,483

3,000
105
5,574
168
8,848
79,0648,225
7,508
69,002(613)
84,1238,225
7,508
73,021(517)
88,238

539

746

(2)
1,191
317
2,047
201
86,371
164,854

–
2,042
302
3,091
233
91,564
170,628

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Contract liabilities
Provision for bonuses
Provision for product warranties
Provision for loss on construction contracts
Provision for share awards for directors (andother officers)
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
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-salesecurities
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- 6 -(2) Consolidated statement of income and consolidated statement of comprehensive income
Consolidated statement of income (cumulative)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using
equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

Six months ended
September 30, 2022
(From April 1, 2022 toSeptember 30, 2022)
62,11746,00916,108
9,597
6,510

- 7 -

(Millions of yen)Six months ended
September 30, 2023
(From April 1, 2023 to
September 30, 2023)
65,46947,34018,12910,274
7,855

14
21
909

46
22
575

100

62

95
1,140

112
819

72
127
200
7,451

107
27
134
8,539

4
2
6

6
3
10

11
11
7,446
2,410
5,035
7
5,027

22
22
8,527
2,985
5,541
3
5,538

Consolidated statement of comprehensive income (cumulative)

ProfitOther comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net oftax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests

Six months ended
September 30, 2022
(From April 1, 2022 toSeptember 30, 2022)
5,035

- 8 -

(Millions of yen)Six months ended
September 30, 2023
(From April 1, 2023 to
September 30, 2023)
5,541

(33)

205

0
1,215

2
879

13

(15)

(0)

1

1,195
6,231

1,073
6,615

6,199

6,583

31

32

(3) Consolidated statement of cash flows
Six months ended
September 30, 2022
(From April 1, 2022 toSeptember 30, 2022)
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in provisions
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted forusing equity method
Loss (gain) on sale of property, plant andequipment
Loss on abandonment of non-current assets
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables andcontract assets
Decrease (increase) in investments in leases
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes refund (paid)
Other, net
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from collection of loans receivable
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Dividends paid
Other, net
Net cash provided by (used in) 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 period- 9 -(Millions of yen)Six months ended
September 30, 2023
(From April 1, 2023 to
September 30, 2023)

7,446
798
35
140
(121)
(35)
72
(385)

8,527
955
632
57
(120)
(69)
107
(97)

(100)

(62)

(4)

(6)

11
(2)

22
(3)

(7,328)

6,082

1,206
(10,412)
(223)
(356)
(9,258)48(77)(1,628)66(10,848)(19,140)
12,016(5,027)
(574)
3,299
81
(103)
(3,311)
73
39

(687)

(624)

5

7

(96)
(299)
6
300
(7)
(779)

(201)
(1)
9
–
2
(808)

5,256
(1,000)(1,012)
(81)
3,162

2,047
(900)
(1,518)
(85)
(455)

813

457

(7,652)
20,19812,545(767)
15,558
14,790(4) Notes to quarterly consolidated financial statements
Notes on premise of going concern
No items to report
Notes on substantial changes in the amount of shareholders’ equity
No items to report
Application of special accounting for preparing the quarterly consolidated financial statements
Calculation of tax expenses
The Company and some of its consolidated subsidiaries have reasonably estimated the effective tax rate
after the application of tax effect accounting to the profit before income taxes for the fiscal year including
the second quarter ended September 30, 2023, and tax expenses are calculated by multiplying profit
before income taxes by this estimated effective tax rate. However, in cases where the calculation of tax
expenses using such estimated effective tax rate yields a result that is not reasonable to a significant
extent, the amount of significant difference other than temporary differences, etc. is added to or deductedfrom the profit before income taxes, and the result is multiplied by the statutory income tax rate.

- 10 -

Segment information, etc.
[Segment information]
I Six months ended September 30, 2022 (From April 1, 2022 to September 30, 2022)
1. Information relating to net sales and profit by each reportable segment
Reportable Segment(Millions of yen)Amountrecorded in the
consolidated
statement ofincome(Note)

Water
Treatment
Engineering
Business Unit

Performance
Products
Business Unit

Net sales
Sales to external customers
Intersegment sales or transfers

52,0830

10,034
179

62,117
179

–
(179)

62,117–

Total

52,083

10,21462,297(179)

62,117

Total

Adjustment

Segment profit
5,430
1,080
6,510
–
6,510
Note:
The figures for segment profit are based on operating profit, and there are no discrepancies with the operating profit
shown in the consolidated statement of income.

II Six months ended September 30, 2023 (From April 1, 2023 to September 30, 2023)
1. Information relating to net sales and profit by each reportable segment
Reportable Segment(Millions of yen)Amountrecorded in the
consolidated
statement ofincome(Note)

Water
Treatment
Engineering
Business Unit

Performance
Products
Business Unit

Net sales
Sales to external customers
Intersegment sales or transfers

54,4190

11,050195

65,469
195

–
(195)

65,469–

Total

54,41911,246

65,665(195)

65,469Total

Adjustment

Segment profit
6,585
1,270
7,855
–
7,855
Note:
The figures for segment profit are based on operating profit, and there are no discrepancies with the operating profit
shown in the consolidated statement of income.

- 11 -

Significant subsequent events
Absorption-type merger with a consolidated subsidiary
The Company, at its Board of Directors meeting held on October 25, 2023, resolved to conduct anabsorption-type merger (the “Merger”) with an effective date of April 1, 2024 (scheduled), under which
the Company shall be the surviving company in the absorption-type merger and the Company’s
consolidated subsidiary ORGANO ECO TECH CORPORATION shall be the disappearing company inthe absorption-type merger, and concluded a merger agreement with the said company on the same date.
1. Purpose of the Merger
To strengthen the engineering structure as set forth in the Medium-Term Management Plan,concentrate management resources and build an efficient delivery system, the Company decided to
conduct the absorption-type merger with the consolidated subsidiary.
2. Overview of the Merger(1) Name of the disappearing company of the Merger and its business description (as of March 31, 2023)
Name of the disappearing company of the Merger: ORGANO ECO TECH CORPORATIONBusiness description:
Manufacture, sale and maintenance of water
treatment facilities and systems, and sale ofwater treatment chemicals
Share capital:¥50 million
Net assets:¥1,195 million
Total assets:¥4,389 million
Net sales:¥6,689 million
Profit:¥745 million(2) Schedule of the Merger
Board of Directors resolution approving the merger agreement: October 25, 2023
Date of conclusion of the merger agreement:
October 25, 2023
Effective date of the Merger:
April 1, 2024 (scheduled)
Note: For the Company, the Merger is a simplified merger pursuant to the provisions of Article 796,
paragraph (2) of the Companies Act. For ORGANO ECO TECH CORPORATION, theMerger is a short-form merger pursuant to the provision of Article 784, paragraph (1) of theCompanies Act. Therefore, neither company will hold a general meeting of shareholders
concerning the approval of the merger agreement.
(3) Method of the Merger
In the absorption-type merger, the Company will be the surviving company and ORGANO ECOTECH CORPORATION will be dissolved.
(4) Details of allotments concerning the Merger
As the Merger is an absorption-type merger with a wholly owned subsidiary, it will not involve
allotments of shares, money, etc.
(5) Overview of the surviving company in the Merger
Name:
ORGANO CORPORATION
Share capital:¥8,225 million
Business description:
Manufacture, sale and maintenance of water treatment facilities andsystems, and sale of water treatment chemicals and food processing
materials
3. Situation after the Merger
After the Merger, there will be no changes to the Company’s name, location, name and title ofrepresentative, business description, share capital and fiscal year-end.

- 12 -

4. Future outlook
As the Merger is an absorption-type merger with a wholly owned consolidated subsidiary of theCompany, it will have a negligible impact on consolidated operating results.

- 13 -