Consolidated Financial Results
for the Six Months Ended September 30, 2023
[Japanese GAAP]
October 26, 2023
Company name: Daihatsu Diesel Mfg. Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 6023
URL: https://www.dhtd.co.jp
Representative: Yoshinobu Hotta, President
Contact: Takashi Mizushina, Director
Phone: +81-6-6454-2331
Scheduled date of filing quarterly securities report: November 13, 2023
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Available
Schedule of quarterly financial results briefing session: Scheduled (for institutional investors and analysts)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2023 (April 1, 2023 to September
30, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Six months ended
Million yen%
Million yen%
Million yen%
Million yen%
September 30, 2023
37,220 17.8
938
40.6
1,171
40.6
1,888
149.8
September 30, 2022
31,584 35.2
667
106.0
832
35.0
756
26.2
(Note) Comprehensive income: Six months ended September 30, 2023: 2,050 million yen [93.6%]
Six months ended September 30, 2022: 1,059 million yen [56.2%]
Basic earnings per share

Six months ended
September 30, 2023
September 30, 2022
(2) Consolidated Financial Position
Total assets

Diluted earnings per share
Yen

Yen

59.79
23.94

-

Net assets

Million yen

Equity ratio

Million yen

As of September 30, 2023
96,04946,952As of March 31, 2023
95,37745,724(Reference) Equity: As of September 30, 2023: 46,905 million yen
As of March 31, 2023: 45,678 million yen

%

48.8
47.9

2. Dividends
Annual dividends
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen
Yen
Yen
Fiscal year ended
March 31, 2023
0.00
Fiscal year ending
0.00
March 31, 2024
Fiscal year ending
March 31, 2024
(Forecast)(Note) Revision to the forecast for dividends announced most recently: Yes

Year-end

Total
Yen

Yen

28.00

28.00

33.00

33.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 toMarch 31, 2024)(% indicates changes from the previous corresponding period.)
Net sales
Million yen

Operating profit%

Million yen

Ordinary profit% Million yen%

Full year
78,000
8.2
3,600
(0.0)
3,800
3.8
(Note) Revision to the financial results forecast announced most recently: Yes

Profit attributableto owners of parent
Million yen
3,500

Basic earnings
per share

%
18.7

Yen
109.89* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting
in changes in scope of consolidation): No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
September 30, 2023: 31,850,000 shares
March 31, 2023: 31,850,000 shares2) Total number of treasury shares at the end of the period:
September 30, 2023: 200,335 shares
March 31, 2023: 280,235 shares
3) Average number of shares during the period:
Six months ended September 30, 2023: 31,588,976 shares
Six months ended September 30, 2022: 31,576,354 shares* These quarterly financial results are outside the scope of quarterly review procedures conducted by a certified
public accountant or audit corporation.
* 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 information and certain
assumptions deemed reasonable as of the date of publication of this document. Actual results may differ
significantly from these forecasts due to a wide range of factors. Please refer to “Explanation of Consolidated
Financial Results Forecast and Other Forward-looking Information” on page 3 of the attached material for theassumptions the financial results forecasts are based on, and notes on their use.
(How to obtain supplementary briefing material on annual financial results and information on the briefing
session)A briefing session for institutional investors and analysts is scheduled to be held on Thursday, November 9, 2023.
The briefing materials will be posted on the Company’s website after the session.

Table of Contents

1. Qualitative Information on Quarterly Financial Results for the Period under Review..........................................2(1) Explanation of Operating Results .................................................................................................................2(2) Explanation of Financial Position .................................................................................................................3(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information .................3
2. Quarterly Consolidated Financial Statements and Primary Notes .......................................................................4(1) Quarterly Consolidated Balance Sheets ........................................................................................................4(2) Quarterly Consolidated Statements of Income and Comprehensive Income ..................................................6(3) Quarterly Consolidated Statements of Cash Flows........................................................................................8(4) Notes to the Quarterly Consolidated Financial Statements ............................................................................9(Notes on going concern assumption) ...............................................................................................................9(Notes in the case of significant changes in shareholders’ equity) ........................................................................9(Segment information, etc.) .............................................................................................................................9

3. Supplementary Information ............................................................................................................................. 11(1) Status of Production, Orders Received, and Sales ....................................................................................... 111

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the six months under review (from April 1, 2023 to September 30, 2023), the Japanese economy
showed a continued gradual recovery mainly in consumer spending and an increase in demand from overseas
visitors as well as capital investment for digitalization, decarbonization, and labor-saving operations, and otherfactors. Meanwhile, the future outlook remained uncertain as the increase in prices attributable to the yen’s
depreciation and the surge in energy and raw material prices were accelerated due to widening interest rate
differences with other advanced countries.
The world economy has remained unstable. This is because, for example, China’s economy has been sluggish
due to factors such as worsening employment situation and a stagnant real estate market. In Europe, the economy
remained in a state of instability caused by the prolonged inflation and the situation in Ukraine, while consumer
spending remained solid. The IMF expects 3% growth for the global economy in 2023 and 2.9% growth in 2024
according to its projections in its World Economic Outlook, a slowdown from 3.5% growth in 2022. The IMF
says that the momentum for growth has been weakened with geoeconomic fragmentation and a slowdown of
China’s economy as well as the impact of surging prices.
In the shipbuilding and maritime industry, the primary industry in which the Company makes its sales,
following the reinforced regulations by the International Maritime Organization, the Company has been making
a transition from petroleum-based fuels to next-generation fuels with an increase in demand for environmentallyfriendly vessels. Furthermore, there is a need for strengthening the management system for safe operation andoptimizing operation through utilization of AI and IoT in order to respond to rapid digitalization.
Under such a corporate environment, the Group’s sales have remained strong for large-sized engines and dual
fuel engines mainly for container ships as well as small- and medium-sized engines mainly for bulk carriers andtankers, while there has been a continued solid demand for maintenance. In research and development, theCompany has worked on collaboration with research institutions, universities and other institutions in order toaccelerate the development of engines compatible with next-generation fuels. At the same time, the Company
plans to strengthen its production facilities capable of responding to next-generation fuels as a part of its
investment in future growth.
As a result, in the six months under review, consolidated net sales increased by 17.8% year-on-year to 37,220
million yen. In terms of profit, operating profit increased by 40.6% year-on-year to 938 million yen, ordinary
profit increased by 40.6% year-on-year to 1,171 million yen, while profit attributable to owners of parent
increased by 149.8% year-on-year to 1,888 million yen.
Performance by business segment of the Company and the consolidated Group are as follows.
<Internal combustion engines>
1. Marine-use
Net sales increased by 22.8% year-on-year to 32,868 million yen while segment income decreased by 1.8%
year-on-year to 2,109 million yen, due to deterioration of the profitability of engines despite increases in salesof engines and maintenance-related sales.
2. Land-use
Net sales decreased by 8.9% year-on-year to 2,495 million yen and segment income of 147 million yen
was recorded (a segment loss of 527 million yen in the previous corresponding period) due to an increase inmaintenance-related sales despite a decrease in sales of engines.
Consequently, net sales for the segment increased by 19.9% year-on-year to 35,364 million yen, and segment
income increased by 39.4% year-on-year to 2,256 million yen.
<Other>
1. Industrial machinery-related
In the aluminum wheel division, both net sales and segment income declined due to a decrease in sales
2

volume.
2. Real estate leasing-related
In real estate leasing-related, net sales increased slightly and segment income increased.
3. Electricity sales-related
In electricity sales-related, net sales decreased while segment income increased.
4. Precision parts-related
In precision parts-related, net sales increased while segment income decreased.
Consequently, net sales for the segment decreased by 11.0% year-on-year to 1,855 million yen, and segment
income decreased by 13.6% year-on-year to 215 million yen.

(2) Explanation of Financial Position
In assets as of the end of the second quarter under review, cash and deposits increased by 3,160 million yen
from the end of the previous fiscal year to 29,788 million yen. Further, inventories rose by 3,122 million yen
from the end of the previous fiscal year. Meanwhile, due to progress made in collection of trade receivables atthe end of the previous fiscal year, notes and accounts receivable - trade, and contract assets decreased by 3,251
million yen. Also, investment securities decreased by 1,655 million yen. As a result, total assets increased by 672
million yen from the end of the previous fiscal year to 96,049 million yen.
In liabilities, notes and accounts payable - trade and electronically recorded obligations - operating in total
increased by 727 million yen from the end of the previous fiscal year. Meanwhile, owing to scheduled payment,
short-term borrowings and long-term borrowings in total decreased by 580 million yen. Also, accrued expenses
decreased by 394 million yen. As a result, total liabilities decreased by 556 million yen from the end of previous
fiscal year to 49,096 million yen.
In net assets, retained earnings increased by 1,004 million yen from the end of the previous fiscal year to41,870 million yen. As a result, total net assets increased by 1,228 million yen from the end of the previous fiscal
year to 46,952 million yen. Equity ratio at the end of the second quarter under review increased by 0.9 points
from the end of the previous fiscal year to 48.8%.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
As to the consolidated financial results forecast for the fiscal year ending March 31, 2024, please refer to the“Notice Regarding the Difference between the Consolidated Financial Results Forecast for the Six Months Ended
September 30, 2023 and the Actual Financial Results, and the Revisions to the Full-Year Consolidated Financial
Results Forecast for the Fiscal Year Ending March 31, 2024 and the Forecast for Dividends (Increase in
Dividends)” published today.
The forecasts stated herein are based on information available to the Company as of the date of publicationof this document. Actual results may differ from these forecasts due to a wide range of factors that may arise in
the future.

3

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsInventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

As of September 30, 2023

26,62729,78820,883

17,631

14,5483,339(8)65,38917,6702,743(8)67,825

8,935
6,843
5,084
188
944
21,996
541

8,800
6,398
5,084
371
1,047
21,702
507

2,798
4,223
432
(4)
7,449
29,987
95,377

1,142
4,368
505
(2)
6,013
28,223
96,049(Million yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Accrued expenses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Provision for retirement benefits for directors (and otherofficers)
Retirement benefit liability
Asset retirement obligations
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 September 30, 2023

8,179
7,259
4,461
157
526
790
56
5,490
3,665
30,586

8,810
7,356
6,461
114
466
801
34
5,095
3,548
32,688

8,800
183

6,219
142

46

37

7,394
195
2,446
19,06649,652

7,362
196
2,449
16,40749,0962,434
2,175
40,865(130)
45,3442,434
2,199
41,870(93)
46,411

344
(27)
284
(267)
333
45
45,724
95,377

443
(6)
205
(148)
494
47
46,952
96,049(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
For the six months ended September 30(Million yen)
For the six months
ended September 30, 2022

For the six months
ended September 30, 2023

31,58425,194
6,390

37,22030,663
6,556

4,520
1,201
5,722
667

4,084
1,534
5,618
938

2
20

3
29

33

40

115
28
0
29
229

147
23
0
44
290

44
20
64
832

40
16
57
1,171

0
264
264

3
86
926
1,015

38
38
1,058
501
(202)
299
759
3
756

7
7
2,179
549
(261)
288
1,890
1
1,888

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Selling expenses
General and administrative expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Outsourcing service income
Reversal of allowance for doubtful accounts
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Miscellaneous losses
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Gain on sale of shares of subsidiaries and associates
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
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

Quarterly Consolidated Statements of Comprehensive Income
For the six months ended September 30(Million yen)
For the six months
ended September 30, 2022

For the six months
ended September 30, 2023

759

1,890

(2)
4
90
47

98
28
58
119

159

(143)

300
1,059

160
2,050

1,056

2,049

3

1

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 for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests7

(3) Quarterly Consolidated Statements of Cash Flows(Million yen)
For the six months
ended September 30, 2022

For the six months
ended September 30, 2023

1,058
1,373
0
11

2,179
1,420
(2)
10

(12)

(22)

50

84

5

(9)

(23)
44
(0)
38
-

(32)
40
(3)
7
(86)

-

(926)

3,472
(2,900)
1,180
984
5,283
23
(44)
(1,020)
4,242

3,375
(3,122)
526
134
3,574
33
(40)
(708)
2,859

(1,040)0(24)-(1,020)
4
(81)
127

-

2,588

152
(191)
(1,104)

143
(66)
1,694

100
(569)
(135)
(476)
(179)
(1,259)

(575)
(882)
(90)
(1,548)

217

192

2,095
26,35428,4493,198
25,81529,013

Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors(and other officers)
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Interest and dividend income
Interest expenses
Loss (gain) on sale of property, plant and equipment
Loss on abandonment of non-current assets
Loss (gain) on sale of investment securities
Loss (gain) on sale of shares of subsidiaries andassociates
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
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 and equipment
Purchase of intangible assets
Proceeds from sale of investment securities
Proceeds from sale of shares of subsidiaries andassociates
Proceeds from withdrawal of time deposits
Payments into time deposits
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Repayments of finance lease liabilities
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 period8(4) Notes to the Quarterly Consolidated Financial Statements(Notes on going concern assumption)
There is no relevant information.
(Notes in the case of significant changes in shareholders’ equity)
For the six months ended September 30, 2023 (from April 1, 2023 to September 30, 2023)
There is no relevant information.
(Segment information, etc.)
1. Information on net sales and profit (loss) by reportable segment
For the six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)
Reportable segment
Marine-use
engines

Land-useengines

Other(Notes)*1

Total

Adjustment(Notes)*2

Total(Million yen)Amountrecorded in
Quarterly
Consolidated
Statements ofIncome(Notes)*3

Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers

26,761

2,738

29,5002,084

31,584-

31,584

-

-

-

-

-

-

-

Total

26,761

2,738

29,5002,084

31,584-

31,584

Segment income (loss)

2,147

(527)

1,619

249

1,869

(1,201)

667(Notes)*1 The “Other” category is a business segment that is not included in reportable segments, and includes the industrial
machinery-related business, the real estate leasing-related business, the electricity sales-related business and theprecision parts-related business.
*2 The adjustment for segment income (loss) represents corporate expenses, largely consisting of selling, general andadministrative expenses not attributable to the reportable segments.
*3 Segment income (loss) is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

9For the six months ended September 30, 2023 (from April 1, 2023 to September 30, 2023)
Reportable segment
Marine-use
engines

Land-useengines

Other(Notes)*1

Total

Adjustment(Notes)*2

Total(Million yen)Amountrecorded in
Quarterly
Consolidated
Statements ofIncome(Notes)*3

Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers
Total
Segment income(Notes)

32,8682,495

35,364

1,855

37,220-37,220

-

-

-

-

-

-

-

32,8682,495

35,364

1,855

37,220-37,220

2,109

147

2,256

215

2,472

(1,534)938*1 The “Other” category is a business segment that is not included in reportable segments, and includes the industrial
machinery-related business, the real estate leasing-related business, the electricity sales-related business and theprecision parts-related business.
*2 The adjustment for segment income represents corporate expenses, largely consisting of selling, general andadministrative expenses not attributable to the reportable segments.
*3 Segment income is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

10

3. Supplementary Information(1) Status of Production, Orders Received, and Sales
For the six months ended September 30, 2023 (from April 1, 2023 to September 30, 2023)
1) Production
Production by segment for the six months ended September 30, 2023 is as follows:(Million yen)Segment

VolumeAmountYear-on-year change

Horsepower%

Internal combustion engines
Marine-use engines

691,465

32,86822.8

Land-use engines

19,303

2,495

(8.9)

-

1,539

(12.8)

36,903

18.0

Other
Total
(Notes)*1 Amounts are based on sales prices.
*2 The figures above do not include consumption taxes.

2) Orders received
Orders by segment for the six months ended September 30, 2023 are as follows:(Million yen)Orders received
Segment

VolumeAmountHorsepower

Order backlogs
Year-on-yearchange%Horsepower(21.0)

1,855,018(12.2)

99,342(24.0)-

VolumeAmountYear-on-yearchange%Internal combustion engine
Marine-use engines

608,959

Land-use engines

31,614

Other

Total

(Notes)

33,040[19,580]
5,430
[60]
1,559
[-]
40,030[19,640](20.1)

58,430[30,165]
8,230
[779]
883
[-]
67,543[30,945]

0.6
(8.6)
(0.2)
(0.6)

*1 Amounts are based on sales prices.
*2 Figures in brackets [ ] indicate export orders received and the balance of export orders outstanding, and are included
in totals.
*3 The figures above do not include consumption taxes.

113) Sales results
Sales by segment for the six months ended September 30, 2023 are as follows:
Segment

VolumeHorsepower

AmountExport ratio%(Million yen)
Year-on-year change%Internal combustion engine
Marine-use engines

691,465

32,86862.4
22.8[20,495]
Land-use engines
19,303
2,495
2.6
(8.9)
[63]
Other
1,855
(11.0)[-]
37,220
Total
55.2
17.8
[20,559](Notes) *1 Figures in brackets [ ] indicate export volume, and are included in totals.
*2 Major export destinations and compositions are as follows:
Asia (74.4%), Europe (17.1%), Latin America (4.9%), North America (2.7%), Others (0.9%)*3 The “Other” segment includes precision parts-related (930 million yen), industrial machinery-related (608 million
yen) and real estate leasing-related (316 million yen).
*4 The figures above do not include consumption taxes.

12