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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 Fiscal Year Ended March 31, 2022
<under Japanese GAAP>May 12, 2022
ORGANO CORPORATIONTokyo Stock Exchange
6368
https://www.organo.co.jp/english/
Masaki Uchikura, Representative Director and President
Shigeru Sonobe, General Manager of Accounting Dept., Corporate Management andPlanning
TEL:+81-3-5635-5111
Scheduled date of ordinary general meeting of shareholders:June 29, 2022
Scheduled date to commence dividend payments:
June 30, 2022
Scheduled date to file annual securities report:
June 29, 2022
Preparation of supplementary material on financial results:
Yes
Holding of 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 fiscal year ended March 31, 2022
(from April 1, 2021 to March 31, 2022)(1) Consolidated operating results
Net sales(Percentages indicate year-on-year changes.)
Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen% Millions of yen% Millions of yen%
Fiscal year ended
March 31, 2022
112,069
11.4
10,85013.3
11,545
16.6
March 31, 2021
100,638
4.3
9,579
(3.3)
9,900
(0.3)
Note:
Comprehensive income: Fiscal year ended March 31, 2022
¥10,405 million [34.9%]
Fiscal year ended March 31, 2021
¥7,711 million [9.7%]

Basic earnings
per share

Diluted earnings
per share

Return on equity

Millions of yen

%

9,210
7,074

30.2
(1.2)

Ratio of ordinary
profit to total
assetsYen
Yen%
Fiscal year ended
March 31, 2022
802.69–12.9March 31, 2021
616.72–
11.1(Reference) Share of profit (loss) of entities accounted for using equity method
Fiscal year ended March 31, 2022
¥160 million
Fiscal year ended March 31, 2021
¥153 million

Operating profit
ratio

%

9.4
9.1

%

9.7
9.5

(2) Consolidated financial position
Total assets

Net assets

Millions of yen
Millions of yen
As ofMarch 31, 2022
130,506
76,004
March 31, 2021
115,01167,357(Reference) Equity: As of March 31, 2022
¥75,836 million
As of March 31, 2021
¥67,214 million

Equity-to-asset ratio

Net assets per share
%

58.1
58.4

Yen

6,620.54
5,856.25

(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2022
March 31, 2021

Cash flows frominvesting activities

Cash flows fromfinancing activities

Millions of yen

Millions of yen

Millions of yen

10,787(4,582)(1,520)(1,261)(2,586)
4,927

Cash and cash
equivalents
at end of period
Millions of yen

20,19812,804

2. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Yen

Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2022

Yen

Fiscalyear-end

Yen

Ratio of
Total cash
dividends Payout ratio dividends to(consolidated) net assets(annual)

Total

Yen

(consolidated)

Yen

Millions of
yen

%

%

–

52.00

–

62.00

114.00

1,311

18.5

2.0

–

72.00

–

88.00

160.00

1,840

19.9

2.6

Fiscal year ending
March 31, 2023
–
80.00
–
20.00
–
22.4
(Forecast)
Note:
As the Company will conduct a 4-for-1 common share split effective as of October 1, 2022, the year-end dividend
per share for the fiscal year ending March 31, 2023 (forecast) stated taking into account the effect of such share
split, and the total annual dividend is stated as “-.” The year-end dividends per share for the fiscal year ending
March 31, 2023 (forecast) that does not take the share split into account is ¥80, and the annual total of dividends
per share is ¥160.

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2023
(from April 1, 2022 to March 31, 2023)(Percentages indicate year-on-year changes.)
Net sales
Millionsof yenOperating profit%

Millionsof yenProfit attributable toowners of parent

Ordinary profit%

Millionsof yen%Millionsof yen%Basicearnings
per share
Yen

Six months ending
60,000
20.0
4,000
6.1
4,000
(4.6)
2,800
3.8
244.44September 30, 2022
(cumulative)
Fiscal year ending
125,000
11.5
11,7007.8
11,7001.3
8,200(11.0)
178.97
March 31, 2023
Note:
Basic earnings per share in the consolidated earnings forecasts for the fiscal year ending March 31, 2023 take into
account the effect of the share split. The forecast for basic earnings per share that does not take the share split into
account is ¥715.87.

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): None
(2) Changes in accounting policies, changes in accounting estimates, and restatementa. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
b. Changes in accounting policies due to other reasons: Nonec. Changes in accounting estimates: None
d. Restatement: None
For more details, please refer to “Changes in accounting policies” on page 17 of the attached material.

(3) Number of issued shares (common shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2022

11,589,925 shares

As of March 31, 2021

11,589,925 sharesb. Number of treasury shares at the end of the period
As of March 31, 2022

135,255 shares

As of March 31, 2021

112,618 sharesc. Average number of shares outstanding during the period
For the fiscal year ended March 31, 2022

11,474,579 shares

For the fiscal year ended March 31, 2021

11,470,941 shares

The Company has introduced an Officer Share Delivery Trust, and shares of the Company held by the Trust havebeen included in treasury shares excluded from the calculation of the number of treasury shares at the end of theperiod and the average number of shares outstanding during the period.

[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2022
(from April 1, 2021 to March 31, 2022)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended
March 31, 2022
March 31, 2021

Operating profit

Millions of yen

70,063
72,661% Millions of yen

(3.6)
2.5

Basic earnings
per share
Fiscal year ended
March 31, 2022
March 31, 2021

6,772
6,311

Ordinary profit% Millions of yen

7.3
(7.3)

Diluted earnings
per shareYen

651.91512.56

Yen

–
–

8,667
7,770

Profit% Millions of yen

11.5
(4.7)

7,480
5,879

%

27.2
(4.6)

(2) Non-consolidated financial position
Total assets
As ofMarch 31, 2022
March 31, 2021
(Reference) Equity:

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

102,721
97,58262,36156,54760.7
57.9

5,444.21
4,926.90

As of March 31, 2022
As of March 31, 2021

¥62,361 million¥56,547 million* Financial results reports are exempt from audit 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 “(4) Future outlook” in “1. Overview of operating results, etc.” on page 6 of the attached material forthe suppositions that form the assumptions for earnings forecasts and cautions concerning the use
thereof.

Attached Material

Index
1. Overview of operating results, etc. ......................................................................................................... 2(1) Overview of operating results for the fiscal year under review ....................................................... 2(2) Overview of financial position for the fiscal year under review ...................................................... 5(3) Overview of cash flows for the fiscal year under review .................................................................. 6(4) Future outlook...................................................................................................................................... 6
2. Basic policy regarding selection of accounting standards .................................................................... 7
3. Consolidated financial statements and significant notes thereto ......................................................... 8(1) Consolidated balance sheet ................................................................................................................ 8(2) Consolidated statement of income and consolidated statement of comprehensive income........ 10
Consolidated statement of income................................................................................................... 10
Consolidated statement of comprehensive income ........................................................................ 11(3) Consolidated statement of changes in equity ................................................................................. 12(4) Consolidated statement of cash flows ............................................................................................. 15(5) Notes to consolidated financial statements ..................................................................................... 17
Notes on premise of going concern .................................................................................................. 17
Changes in significant subsidiaries during the period .................................................................. 17
Changes in accounting policies ........................................................................................................ 17
Changes in presentation ................................................................................................................... 18
Additional information .................................................................................................................... 18
Segment information, etc. ................................................................................................................ 19
Per share information ...................................................................................................................... 22
Significant subsequent events .......................................................................................................... 23- 1 -1. Overview of operating results, etc.
(1) Overview of operating results for the fiscal year under review
During the fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022), the global economy
was subject to mounting concerns of an economic slowdown despite a recovery trend overall even amid
effects of COVID-19, in part given that Russia’s military invasion of Ukraine during the latter half of the
fiscal year culminated in progressing inflation particularly when it comes to energy and food prices, aswell as adverse consequences of economic sanctions imposed on Russia.
The electronics industry, the Organo Group’s main market, remained active amid factors that included
successive instances of substantial semiconductor-related capital investment across different nations,being undertaken amid moves to rebuild global supply chains in response to the shortage ofsemiconductor supply, geopolitical risk, and other such developments. On the other hand, there weresigns of turmoil in supply chains including logistics largely due to restrictions on economic activities
brought about by a shortage of raw materials supply and the spread of COVID-19. Meanwhile, somecustomers, including those in the general industry field, encountered adverse effects particularly in termsof schedules for equipment construction and delivery, and manufacturing activity. However, the overall
recovery trend has persisted. In addition, the electric power/water supply and sewage fields remained
strong centered on renewed facilities demand in Japan and solutions projects.
Under these conditions, the Organo Group has been actively working to achieve more expansive businessdevelopment, which has involved focusing its efforts on drawing in orders and deliveries involving major
semiconductor-related projects in Japan, Taiwan, and China, while also gaining a new, major
semiconductor order in the United States. We have also been making progress toward strengthening ourdelivery system which has involved establishing a subsidiary in the United States and setting up a global
engineering center (GEC) in Vietnam, with the aim of addressing a growing number of orders. We havealso been engaging in initiatives that include expanding our R&D Center to enhance our next-generation
ultrapure water systems as well as new separation and purification technologies, and seeking to digitalize
and streamline various operations such as those involving engineering.
As a result, for fiscal year ended March 31, 2022, orders received increased by 43.5% year on year to¥135,698 million, net sales increased by 11.4% year on year to ¥112,069 million, operating profit
increased by 13.3% to ¥10,850 million, ordinary profit increased by 16.6% to ¥11,545 million, profit
attributable to owners of parent increased by 30.2% to ¥9,210 million, and our carry-over balance fororder backlog as of March 31, 2022 was up 39.7% to ¥86,417 million. Orders received, net sales and therespective profit figures surpassed levels of the initial plan and earnings forecasts across the board andachieved record highs. Ordinary profit was affected by the Company having posted foreign exchange
gains due to rapid depreciation of the yen heading toward fiscal year-end, and profit attributable to ownersof parent was affected by the Company having posted extraordinary income from sale of real estate. In
addition, we have secured a high balance with respect to carry-over backorder, which will form the basis
for sales from next fiscal year onward, through orders received involving successive major projects inJapan and overseas.
(Millions of yen)

Category

Orders received
Carry-over backorder
Net sales
Operating profit
Operating profit ratio (%)
Ordinary profit
Profit attributable to owners ofparentReturn on equity (ROE) (%)

76th term
Fiscal year ended
March 31, 2021

77th term(Fiscal year under review)
Fiscal year ended March 31, 2022

Year-on-year

Actual-toforecast

94,563
61,871
100,638
9,579
9.5
9,900

Initial plan
100,000
58,871103,000
8,250
8.0
8,150

Actual result
135,698
86,417
112,069
10,8509.7
11,545

43.5%
39.7%
11.4%
13.3%
–
16.6%

35.7%
46.8%
8.8%
31.5%
–
41.7%

7,074

6,500

9,210

30.2%

41.7%

11.1

9.3

12.9

–

–

- 2 -

Results by segment are as follows.
[Water Treatment Engineering Business Unit]

Net sales ratio

Orders received¥116,116 million (Up 52.3% year-on-year)

Net sales¥92,723 million (Up 12.5% year-on-year)

Operating profit¥9,087 million (Up 7.3% year-on-year)

82.7%

Major Business●Major Business and ProductsPlant Division
Pure and ultrapure waterproduction facilities
Industrial process water
treatment facilities
Wastewater treatment andrecovery facilities
Valuable material
recovery facilities
Production processingrelated facilities●Customers and Markets
Service Solutions
Division
Replacement ofexpendable items
MaintenanceOperational support
services
Renovation andreconditioning
Contract water treatment
Comprehensive
maintenance contracts

Electronics
industry
Semiconductors
Flat panel
display
Electronic parts

Electric power/
water supply
and sewage
Power plants
Water
purification
plantsSewagetreatment
plantsGeneralindustry
Pharmaceuticals,
cosmetics
Food andbeverage
Machinery andchemicals■Orders received
Orders received increased 52.3% year on year to ¥116,116 million. In the electronics field, which is theGroup’s main market, circumstances remained upbeat worldwide. This was a result of factors that include
our having gained orders for water treatment facilities for major semiconductor plants from our major
customers in Japan and Taiwan, our having expanded into more regions by drawing in orders from newcustomers against a backdrop of active capital investment in China for automotive semiconductors,
power semiconductors, memory and other products, and our having successfully landed orders for major
semiconductor projects in the United States. In addition, in the general industry field and the electric
power/water supply and sewage fields, firm levels of orders continued in the Japanese market forequipment modification and renewal and various maintenance services.
■Net sales
Net sales increased 12.5% year on year to ¥92,723 million. The increase in net sales centered on theelectronics field amid steady progress in work achieved overall, despite having encountered situations
involving procedural overhaul of some projects due to supply chain turmoil particularly in the form of ashortage of raw materials supply and logistical delays. In the general industry field, the Service Solutions
Division performed well particularly in Japan, despite a downturn in sales of major plants due to factorsthat include the COVID-19 pandemic having caused a decrease in large-scale investment andconcentration of resources in the electronics field. In the electric power/water supply and sewage fields,
net sales increased year on year, mainly due to the Company having posted sales for major water supply
and sewage-related projects for which orders were received up until the previous fiscal year.
■Operating profit
Operating profit increased 7.3% year on year to ¥9,087 million. The year-on-year increase in operating
profit is a result of the Company having secured higher earnings amid an upturn in sales in the electronics
field and the electric power/water supply and sewage fields, as well as profitability improvements
achieved in the general industry field, despite an increase in the plant projects to net sales ratio including
large semiconductor-related projects, and a slight decrease in the operating profit ratio largely brought
about by higher selling, general and administrative expenses centered on personnel expenses and othersuch costs.

- 3 -[Performance Products Business Unit]

Net sales ratio

Orders received¥19,581 million (Up 6.8% year-on-year)

Net sales¥19,346 million (Up 6.2% year-on-year)

Operating profit¥1,763 million (Up 58.4% year-on-year)

17.3%

- 4 -

Major Business●Major Business and Products
Water Treatment Chemicals
Division
RO membrane protection
chemicals, Wastewater treatment
chemicals, Cooling water treatment
chemicals, Cleaning chemicals,
Boilers water treatment chemicals●Customers and Markets
Various manufacturing industries
Buildings and commercial facilities

Standard Water Treatment Equipment
and Filters Division
Pure and ultrapure water production
systems
Water purification filters●Customers and Markets
Medical institutions, research
institutions
Various manufacturing industries
Food and beverage, convenience
storesFood Products Division
Food ingredients
Food processing agents●Customers and Markets
Food factories, food processing
industry
Beverage manufacturing
Nursing care food, health food
manufacturing■Orders received/Net sales
Orders received increased 6.8% year on year to ¥19,581 million and net sales increased 6.2% year on
year to ¥19,346 million. In the Water Treatment Chemicals Division, sales for the electronics industry
were favorable. The Standard Water Treatment Equipment and Filters Division saw a recovery in sales
centered on small-scale pure water production equipment for medical institutions and research
institutions, which had slumped last year. We are also seeing an increase in sales including a solid start
to sales of the small-scale ultrapure water production equipment “Puric μ (mu).” Meanwhile, in the Food
Products Division, sales were about level with the previous fiscal year as recovery in sales of products
for the restaurant market were offset by lower sales to the household food products market.
■Operating profit
Operating profit increased 58.4% year on year to ¥1,763 million. Operating profit increased year on year
amid factors that include higher net sales in the Water Treatment Chemicals Division and the Standard
Water Treatment Equipment and Filters Division, higher sales involving relatively high-margin productcategories, and better profit margins due to cost improvement efforts and other such initiatives.

(2) Overview of financial position for the fiscal year under review
Current assets
Current assets as of March 31, 2022 amounted to ¥102,862 million, an increase of ¥13,159 million fromthe previous fiscal year end. This was mainly due to an increase of ¥7,394 million in cash and deposits
and an increase of ¥3,673 million in trade receivables and contract assets.
- 5 -Non-current assets
Non-current assets as of March 31, 2022 amounted to ¥27,644 million, an increase of ¥2,335 million
from the previous fiscal year end. This was mainly due to an increase of ¥1,183 million in buildings andstructures, net, and an increase of ¥814 million in construction in progress.
Current liabilities
Current liabilities as of March 31, 2022 amounted to ¥43,072 million, an increase of ¥2,322 million fromthe previous fiscal year end. This was mainly due to an increase of ¥6,224 million in trade payables,
despite a decline of ¥4,577 million in short-term borrowings.
Non-current liabilities
Non-current liabilities as of March 31, 2022 amounted to ¥11,429 million, an increase of ¥4,524 million
from the previous fiscal year end. This was mainly due to an increase of ¥4,200 million in long-termborrowings.
Net Assets
Net assets as of March 31, 2022 amounted to ¥76,004 million, an increase of ¥8,647 million from theprevious fiscal year end. This was mainly due to an increase of ¥7,716 million in retained earnings
resulting from the recording of profit attributable to owners of parent.
(3) Overview of cash flows for the fiscal year under review
Cash and cash equivalents (hereinafter, “cash”) as of March 31, 2022 increased by ¥7,394 million fromthe previous fiscal year end to ¥20,198 million.
Cash flows from operating activities
Net cash provided by operating activities was ¥10,787 million. This was mainly because there was adecrease in cash due to income taxes refund (paid) of ¥3,664 million while there was an increase in cash
due to profit before income taxes of ¥12,696 million. (Net cash of ¥4,582 million was used in the fiscal
year ended March 31, 2021.)
Cash flows from investing activities
Net cash used in investing activities was ¥1,520 million. This was mainly because there was an increasein cash due to proceeds from sale of property, plant and equipment of ¥1,200 million while there was adecrease in cash due to purchase of property, plant and equipment of ¥2,492 million. (Net cash of ¥1,261
million was used in the fiscal year ended March 31, 2021.)
Cash flows from financing activities
Net cash used in financing activities was ¥2,586 million. This was mainly because there was an increasein cash due to proceeds from long-term borrowings of ¥6,000 million while there was a decrease in cash
due to repayments of short-term borrowings of ¥5,979 million and dividends paid of ¥1,541 million. (Netcash of ¥4,927 million was provided in the fiscal year ended March 31, 2021.)(4) Future outlook
In terms of the future outlook, we anticipate persistently high levels of capital investment particularly
with respect to semiconductors in the electronics field, which is the Company’s main market, despiteongoing uncertainty particularly in terms of concerns concerning ramifications of Russia’s militaryinvasion of Ukraine, amid hopes of economic recovery from the COVID-19 pandemic worldwide.
Meanwhile, we hold to our concerns going forward with respect to progressing inflation particularly
when it comes to energy and raw material prices, as well as supply chain issues in the form of raw material
supply shortages and logistics turmoil. We find that this scenario serves as a risk factor that also affects
the Organo Group’s business environment, albeit specific major issues in this regard have not emerged
as of yet.
Regarding our financial results outlook for the fiscal year ending March 31, 2023, we are planning fororders received of ¥125,000 million (down 7.9% year on year), net sales of ¥125,000 million (up 11.5%),
operating profit of ¥11,700 million (up 7.8%), ordinary profit of ¥11,700 million (up 1.3%), and profit
attributable to owners of parent of ¥8,200 million (down 11.0%).
Orders received and net sales are forecast to remain at high levels, for one given that we anticipate
multiple instances of large-scale semiconductor-related capital investment in Japan and overseas in theelectronics field, and also given our high level of carry-over backorder and steady progress being
achieved particularly in terms of work schedules. In terms of operating profit, we anticipate an increasein profits prompted by expansion of sales, despite the likelihood of higher selling, general and- 6 -administrative expenses particularly caused by increases in personnel expenses, R&D investment, anddigital investment. We have lowered our target for profit attributable to owners of parent due to effectsof having posted gain on sale of non-current assets under extraordinary income in the fiscal year ended
March 31, 2022.

Category
Orders received
Carry-over backorder
Net sales
Operating profit
Operating profit ratio (%)
Ordinary profit
Profit attributable to owners of parent
Return on equity (ROE) (%)(Millions of yen, %)Fiscal year ending March 31,
Fiscal year ended March 31,
2023
Change2022
Initial plan
135,698
125,000(7.9)%
86,41786,417
Unchanged
112,069
125,000
11.5%
10,85011,700
7.8%
9.7
9.4
–
11,545
11,700
1.3%
9,210
8,200
(11.0)%
12.9
10.6
–

2. Basic policy regarding selection of accounting standards
The Organo Group will prepare its consolidated financial statements in accordance with Japanese GAAP
for the time being.
Meanwhile, we will remain attentive to developments in Japan and overseas with respect to theInternational Financial Reporting Standards (IFRS).

- 7 -3. Consolidated financial statements and significant notes thereto(1) Consolidated balance sheet(Millions of yen)
As of March 31, 2021

As of March 31, 2022

12,80449,517–

20,198
–
1,703

1,598

1,862

–
–
9,773
5,448
6,205
1,223
3,172
(39)
89,702

25,63925,584
11,293
5,264
6,735
1,456
3,133
(6)
102,862

17,792(12,808)
4,983
5,671
(4,981)690
12,279300
5,112(4,391)
720
18,974
1,105

18,873(12,707)
6,166
5,826
(5,117)709
12,257
1,115
5,346(4,601)
745
20,995
1,082

1,911
–
2,977
743
(403)
5,228
25,308115,011

2,058
624
2,369
979
(464)
5,566
27,644
130,506

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Notes receivable - trade
Electronically recorded monetary claims operating
Accounts receivable - trade
Contract assets
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- 8 -(Millions of yen)
As of March 31, 2021

As of March 31, 2022

13,556
4,589
14,510
2,140
1,226
–
1,442
241
122

18,795
5,575
9,933
1,444
–
1,820
1,477
296
46

109

123

2,809
40,7493,559
43,072

1,495
11
5,319
79
6,905
47,654

5,695
53
5,512
168
11,42954,501

8,225
7,508
51,902(495)
67,1398,225
7,508
59,619(734)
74,617

301

434

–
(201)
(25)
74
143
67,357
115,011

(0)
575
208
1,218
168
76,004
130,506

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Advances received
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- 9 -(2) Consolidated statement of income and consolidated statement of comprehensive income
Consolidated statement of income

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
Loss on valuation of derivatives
Other
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 right to use facilities
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on abandonment of non-current assets
Loss on valuation of investment securities
Loss on sale of right to use facilities
Loss on valuation of right to use facilities
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

Fiscal year ended
March 31, 2021
(From April 1, 2020 toMarch 31, 2021)
100,638
74,311
26,326
16,746
9,579- 10 -(Millions of yen)
Fiscal year ended
March 31, 2022
(From April 1, 2021 toMarch 31, 2022)
112,069
83,55628,512
17,662
10,850

27
27
39

26
33
573

153

160

207
454

129
924

117
–
16
133
9,900

127
92
9
229
11,545

7
14
–
22

1,150
23
11
1,185

0
161
59
4
0
227
9,695
2,839
(230)
2,608
7,086
12
7,074

–
21
–
13
–
35
12,696
2,984
485
3,470
9,226
15
9,210

Consolidated statement of comprehensive income

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

Fiscal year ended
March 31, 2021
(From April 1, 2020 toMarch 31, 2021)
7,086- 11 -(Millions of yen)
Fiscal year ended
March 31, 2022
(From April 1, 2021 toMarch 31, 2022)
9,226

155

135

–
(34)

(0)
809

500

235

3

(2)

624
7,711

1,178
10,405

7,709

10,371

2

33

(3) Consolidated statement of changes in equity
Fiscal year ended March 31, 2021 (From April 1, 2020 to March 31, 2021)(Millions of yen)
Shareholders’ equity

Balance at
beginning of period

Share capital

Capital surplus

8,225

7,508

Retainedearnings
46,081

Treasury shares

Total
shareholders’equity(537)

61,277

Changes during
periodDividends ofsurplus(1,254)(1,254)

Profit attributableto owners ofparent

7,074

7,074

Increase in retained
earnings due toincrease inconsolidated
subsidiaries

Purchase oftreasury shares
Disposal oftreasury shares

0

(65)

(65)

107

107

Net changes in
items other thanshareholders’equityTotal changes
during period
Balance at end of
period

–

0

5,820

41

5,861

8,225

7,508

51,902(495)

67,139- 12 -

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at
beginning of period

143

Foreigncurrencytranslation
adjustment

Remeasurements ofdefinedbenefit plans

(178)

(525)

Total
accumulated Non-controlling Total net assetsinterests
othercomprehensive
income(560)

140

60,857

Changes during
periodDividends ofsurplus(1,254)

Profit attributableto owners ofparent7,074

Increase in retained
earnings due toincrease inconsolidated
subsidiaries–

Purchase oftreasury shares(65)

Disposal oftreasury shares107

Net changes in
items other thanshareholders’equity

158

(23)

499

635

2

637

Total changes
during period

158

(23)

499

635

2

6,499

Balance at end of
period

301

(201)

(25)

74

143

67,357- 13 -

Fiscal year ended March 31, 2022 (From April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders’ equity
Share capital

Capital surplus

Retained earnings

Treasury shares

8,225

7,508

51,902(495)

Balance at beginningof period
Cumulative effects
of changes inaccounting policies
Restated balance
Changes during period
Dividends of surplus
Profit attributable toowners of parent
Increase in retained
earnings due toincrease inconsolidated
subsidiaries
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders’equityTotal changes during
periodBalance at end of
periodTotal shareholders’equity67,139

11
8,225

7,508

8,225

51,913

7,508

11
(495)

67,151(1,541)(1,541)

9,210

9,210

36

36

(354)

(354)

115

115

7,705

(238)

7,466

59,619(734)

74,617

Accumulated other comprehensive income
Valuationdifferenceonavailablefor-salesecurities
Balance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during period
Dividends of surplus
Profit attributable toowners of parent
Increase in retained
earnings due toincrease inconsolidated
subsidiaries
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of
period301

Deferred gains
or losses onhedges–Foreigncurrencytranslation
adjustment

Remeasurements ofdefinedbenefit plans

(201)

(25)

Total
accumulated Non-controlling Total net assetsinterests
othercomprehensive
income74

143

67,357
11

301

–

(201)

(25)

74

143

67,369(1,541)
9,210

36

(354)
115
132

(0)

777

234

1,144

25

1,169

132

(0)

777

234

1,144

25

8,635

434

(0)

575

208

1,218

168

76,004- 14 -

(4) Consolidated statement of cash flows
Fiscal year ended
March 31, 2021
(From April 1, 2020 toMarch 31, 2021)
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 valuation of derivatives
Loss (gain) on sale of non-current assets
Loss on abandonment of non-current assets
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Loss (gain) on sale of right to use facilities
Loss on valuation of right to use facilities
Decrease (increase) in trade receivables
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
Proceeds from insurance income
Compensation paid for damage
Income taxes refund (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 andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Loan advances
Proceeds from collection of loans receivable
Proceeds from sale of right to use facilities
Other, net
Net cash provided by (used in) investing activities- 15 -(Millions of yen)
Fiscal year ended
March 31, 2022
(From April 1, 2021 toMarch 31, 2022)

9,695
1,212
105
(104)
–
(54)
117
19

12,696
1,332
127
150
(250)
(60)
127
(178)

(153)

(160)

(2)
(6)
161
(14)
59
4
0
(12,728)92(1,150)
21
(23)
–
1
–
–

–

(320)

1,979
(3,047)
3,752(3,004)(2,008)
66
(110)
132
(6)
(2,654)(4,582)(1,518)(2,244)
5,451
403
14,497
73
(129)
11
(0)
(3,664)
10,787(965)(2,492)

74

1,200

(289)
(58)
25
(250)
250
0
(47)
(1,261)

(306)
(8)
65
–
–
32
(10)
(1,520)Fiscal year ended
March 31, 2021
(From April 1, 2020 toMarch 31, 2021)
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
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
Increase in cash and cash equivalents resulting from
inclusion of subsidiaries in consolidation
Cash and cash equivalents at end of period- 16 -(Millions of yen)
Fiscal year ended
March 31, 2022
(From April 1, 2021 toMarch 31, 2022)

7,075
–
(800)
(65)
(1,254)
–
(27)
4,927

(5,979)
6,000
(600)
(354)
(1,541)(7)(101)(2,586)

(52)

398

(968)
13,772

7,079
12,804–314

12,804

20,198(5) Notes to consolidated financial statements
Notes on premise of going concern
No items to report
Changes in significant subsidiaries during the period
No items to report
Effective from the first quarter of the fiscal year ended March 31, 2022, Organo (Vietnam) Co., Ltd. has
been included in the scope of consolidation due to its increased significance, although the inclusion does
not constitute a change in specified subsidiaries. Furthermore, in the third quarter of the fiscal year ended
March 31, 2022, the newly established Organo USA, Inc. has been included in the scope of consolidation.
Changes in accounting policies
Application of Accounting Standard for Revenue Recognition, etc.
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No.
29, March 31, 2020) and relevant revised ASBJ regulations effective from the beginning of the fiscal
year ended March 31, 2022, and it has recognized revenue at the time the control of promised goods orservices is transferred to the customer at the amount expected to be received upon exchange of said goods
or services. With respect to construction contracts, the Company previously had applied the percentageof-completion method to construction work whose outcome from the completed portion was deemeddefinite, and had applied the completed-contract method to other construction work. As a result of thisapplication, however, the Company has changed the method to recognize revenue over a certain periodof time in alignment with its satisfaction of performance obligations to transfer goods or services tocustomers when control over a good or service is to be transferred to the customer over a certain periodof time. In measuring progress made in satisfying a performance obligation, construction costs incurred
as of the last day of each reporting period are to be calculated based on the ratio of the total estimatedconstruction costs. In addition, the Company is to recognize revenue using the cost recovery method incases where it expects to recover costs incurred but is unable to reasonably estimate the extent of progress
made toward satisfying performance obligations.
The application of the Accounting Standard for Revenue Recognition and relevant revised ASBJ
regulations is subject to the transitional treatment provided for in the proviso to paragraph 84 of the
Accounting Standard for Revenue Recognition. The cumulative effect of the retrospective application,
assuming the new accounting policy had been applied to periods prior to the beginning of the current
fiscal year, was added to or deducted from the opening balance of retained earnings of the current fiscal
year, and thus the new accounting policy was applied from such opening balance.
As a result, for the fiscal year ended March 31, 2022, net sales increased by ¥1,320 million, cost of sales
increased by ¥1,220 million, while operating profit increased by ¥99 million, and ordinary profit andprofit before income taxes each increased by ¥92 million. In addition, the opening balance of retained
earnings increased by ¥11 million.
Due to the application of the Accounting Standard for Revenue Recognition and relevant revised ASBJ
regulations, “Notes and accounts receivable - trade” under current assets of the consolidated balance
sheet as of March 31, 2021 has been included in “Notes receivable - trade,” “Accounts receivable - trade,”and “Contract assets” from the fiscal year ended March 31, 2022. In addition, “Advances received” undercurrent liabilities has been included in “Contract liabilities” from the fiscal year ended March 31, 2022.
“Decrease (increase) in trade receivables” under “Cash flows from operating activities” of theconsolidated statement of cash flows for the previous fiscal year has been included in “Decrease(increase) in trade receivables and contract assets” from the fiscal year ended March 31, 2022. In
accordance with the transitional treatment provided for in paragraph 89-2 of the Accounting Standard for
Revenue Recognition, figures for the previous fiscal year have not been restated in accordance with the
new approach to presentation.
Application of Accounting Standard for Fair Value Measurement, etc.
The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement No.
30, July 4, 2019) and relevant revised ASBJ regulations effective from the beginning of the fiscal year
ended March 31, 2022, and in the future will accordingly apply new accounting policy stipulated by the
Accounting Standard for Fair Value Measurement, etc. in accordance with the transitional treatment- 17 -

provided for in paragraph 19 of the Accounting Standard for Fair Value Measurement and paragraph 442 of the “Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019). This
will not affect the consolidated financial statements.
Changes in presentation
Consolidated statement of income“Insurance claim income,” which had been presented separately under “non-operating income” in theprevious fiscal year, is below 10% of total non-operating income and is included in “other” beginning in
the fiscal year under review. The consolidated financial statements for the previous fiscal year have been
reclassified to reflect this change in presentation.
Consequently, ¥132 million in “insurance claim income” and ¥74 million in “other” that were presented
in the consolidated statement of income for the previous fiscal year have been reclassified as ¥207 million
in “other.”Consolidated statement of cash flows“Insurance claim income,” which had been presented separately under “cash flows from operating
activities” in the previous fiscal year, is to be included in “other, net” beginning in the fiscal year underreview because it is no longer material. In addition, “loss (gain) on valuation of derivatives,” which had
been included in “other, net” under “cash flows from operating activities” is to be presented separately
beginning in the fiscal year under review because it became material. The consolidated financial
statements for the previous fiscal year have been reclassified to reflect this change in presentation.
Consequently, ¥(132) million in “insurance claim income” and ¥(2,874) million in “other, net” that were
presented under “cash flows from operating activities” in the consolidated statement of cash flows forthe previous fiscal year have been reclassified as ¥(2) million in “loss (gain) on valuation of derivatives”
and ¥(3,004) million in “other, net.”
Additional information
Impact arising due to the proliferation of COVID-19
Regarding COVID-19, although there are signs of a gradual slowdown of pandemic as the spread of
infection continues to repeat cycles of expansion and convergence, we expect that it will take aconsiderable amount of time before the disease is completely contained. However, the Company has
made accounting estimates based on the assumption that the impact of the infection on the Group’ s
performance will be limited, taking into account our customers’ current capital investment plans, theoperating status of plants and other facilities, and the expected progress of construction work on projects
for which the Company has received orders.
However, the assumptions mentioned above contain a high degree of uncertainty, and depending on thesituation of the spread of the infection and the impact of that on the economy, COVID-19 may have amaterial impact on the consolidated financial statements in the next fiscal year and beyond.

- 18 -

Segment information, etc.
[Segment information]
1. Overview of reportable segments
The reportable segments of the Company are the business units for which the Company is able to obtainrespective financial information separately in order for the Board of Directors to conduct periodic review
to determine distribution of management resources and evaluate their business results.
Based on a system of separate business units according to the product and service, the Company
formulates comprehensive strategies for Japan and overseas for products and services handled by eachbusiness unit, etc. and carries out its business activities.
Therefore, the Company is comprised of product and service segments based on the business units, etc.,
and the two reportable segments, Water Treatment Engineering Business Unit and Performance Products
Business Unit, handle products with similar qualities and economic characteristics and services withsimilar contents.
Each reportable segment and the major products and business in the segments are as follows.
Reportable Segment

Major Products and Business

Plant Division

Pure and ultrapure water production facilities,
Industrial process water treatment facilities,
Wastewater treatment and wastewater recovery
facilities, Valuable material recovery facilities,
Production processing-related facilities

Service Solutions Division

Replacement of expendable items,
Maintenance, Operational support services,
Renovation/Reconditioning, Contract water
treatment, Comprehensive maintenancecontracts

Water Treatment Chemicals
Division

RO membrane protection chemicals,
Wastewater treatment chemicals, Cooling water
treatment chemicals, Cleaning chemicals,
Boiler water treatment chemicals

Standard Water Treatment
Equipment and Filters
Division

Pure and ultrapure water production facilities,
Water purification filters

Food Products Division

Food ingredients, Food processing agents

Water Treatment Engineering
Business Unit

Performance Products Business Unit

2. Calculation of net sales, profit (loss), assets, liabilities, and other items by reportable segment
The accounting methods used for reportable segments are the same as the accounting adopted for the
preparation of consolidated financial statements.
Intersegment sales or transfers are determined by referencing general trading conditions in considerationof market prices, etc.
Moreover, 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.
As stated under “Changes in accounting policies,” the Company has applied the Accounting Standard for
Revenue Recognition and relevant revised ASBJ regulations starting with the consolidated financial
statements for the current fiscal year, and accordingly changed its method for calculating businesssegment profit or loss given that it has changed accounting methods for revenue recognition.
In comparison with the previous method, this change increases net sales and segment profit in the Water
Treatment Engineering Business Unit by ¥1,441 million and ¥97 million, respectively. Meanwhile, it
decreases net sales by ¥120 million and increases segment profit by ¥2 million in the Performance
Products Business Unit.

- 19 -

3. Net sales, profit (loss), assets, liabilities, and other items by reportable segment
Fiscal year ended March 31, 2021 (From April 1, 2020 to March 31, 2021)(Millions of yen)
Reportable Segment
Water
Treatment
Engineering
Business Unit

Performance
Products
Business Unit

Net sales
Sales to external customers
Intersegment sales or transfers

82,4240

18,213342

Total

Adjustment(Note 1)

Reported inconsolidated
financialstatements

100,638
342

–
(342)

100,638–

Total

82,425

18,555100,981(342)

100,638

Segment profit

8,466

1,113

9,579

–

9,579

Segment assets

91,96817,415

109,383

5,627

115,011

Other items
Depreciation
924
287
1,212
–
1,212
Investment in entities
accounted for using equity
964
–
964
–
964
methodIncrease in property, plant andequipment and intangible
791
223
1,015
–
1,015
assets
Notes: 1. The adjustments of ¥5,627 million for segment assets are mainly deferred tax assets and long-term investment
funds (investment securities).
2. “Depreciation” and “Increase in property, plant and equipment and intangible assets” include amortization of and
an increase in long-term prepaid expenses.

Fiscal year ended March 31, 2022 (From April 1, 2021 to March 31, 2022)(Millions of yen)
Reportable Segment
Water
Treatment
Engineering
Business Unit

Performance
Products
Business Unit

Net sales
Sales to external customers
Intersegment sales or transfers

92,7230

19,346
331

Total

Adjustment(Note 1)

Reported inconsolidated
financialstatements

112,069
332

–
(332)

112,069–
112,069

Total

92,724

19,678112,402(332)

Segment profit

9,087

1,763

10,850–10,850

Segment assets

107,150

17,763

124,9145,592

130,506

Other items
Depreciation
1,042
290
1,332
–
1,332
Investment in entities
accounted for using equity
1,109
–
1,109
–
1,109
methodIncrease in property, plant andequipment and intangible
2,676
711
3,387
–
3,387
assets
Notes: 1. The adjustments of ¥5,592 million for segment assets are mainly deferred tax assets and long-term investment
funds (investment securities).
2. “Depreciation” and “Increase in property, plant and equipment and intangible assets” include amortization of and
an increase in long-term prepaid expenses.

[Related information]
Fiscal year ended March 31, 2021 (From April 1, 2020 to March 31, 2021)
1. Information by product and service
This information has been omitted, as identical information is disclosed in segment information.
- 20 -

2. Information by region(1) Net sales
Japan

Taiwan75,676

16,083China

Southeast Asia

5,251(Millions of yen)
Total

Other

3,311

316

100,638

Note: Net sales are classified into countries or regions based on customers’ location.
(2) Property, plant and equipment
This information has been omitted as the amount of property, plant and equipment located in Japanis more than 90% of property, plant and equipment in the consolidated balance sheet.
3. Information by major customer
Customer name(Millions of yen)
Related segment

Net sales

Sony Semiconductor Manufacturing
Corporation

12,371

Water Treatment Engineering Business
Unit

Taiwan Semiconductor Manufacturing
Company, Ltd.

10,820

Water Treatment Engineering Business
Unit

Fiscal year ended March 31, 2022 (From April 1, 2021 to March 31, 2022)
1. Information by product and service
This information has been omitted, as identical information is disclosed in segment information.
2. Information by region(1) Net sales
Japan

Taiwan73,082

19,523China

Southeast Asia

13,325

Other

4,874

(Millions of yen)
Total

1,263

112,069

Note: Net sales are classified into countries or regions based on customers’ location.
(2) Property, plant and equipment
This information has been omitted as the amount of property, plant and equipment located in Japanis more than 90% of property, plant and equipment in the consolidated balance sheet.
3. Information by major customer
Customer nameTaiwan Semiconductor Manufacturing
Company, Ltd.

(Millions of yen)
Related segment

Net sales
15,472

Water Treatment Engineering Business Unit

[Information relating to impairment loss of non-current assets by each reportable segment]
No items to report[Information relating to amortization of goodwill and unamortized balance by each reportable segment]
No items to report[Information relating to gain on bargain purchase by each reportable segment]
No items to report- 21 -

Per share information
Fiscal year ended March 31, 2021
(From April 1, 2020 to March 31,
2021)
Net assets per share¥5,856.25¥6,620.54¥616.72¥802.69

Basic earnings per share

Notes: 1.
2.

3.

Fiscal year ended March 31, 2022
(From April 1, 2021 to March 31,
2022)

Diluted earnings per share is not presented since no potential shares exist.
When calculating net assets per share in the fiscal year ended March 31, 2022, commonshares of the Company held by the Officer Share Delivery Trust have been included intreasury shares excluded from the total number of issued shares at the end of the period (29thousand shares at the end of the fiscal year ended March 31, 2021; 51 thousand shares atthe end of the fiscal year ended March 31, 2022). Moreover, when calculating basic earnings
per share, they have been included in treasury shares excluded from the calculation of theaverage number of shares outstanding during the period (35 thousand shares in the fiscal year
ended March 31, 2021; 31 thousand shares in the fiscal year ended March 31, 2022).
The basis for calculation of basic earnings per share is as follows.
Fiscal year ended March 31, 2021
(From April 1, 2020 to March 31,
2021)

Fiscal year ended March 31, 2022
(From April 1, 2021 to March 31,
2022)

Profit attributable to owners of parent(millions of yen)

7,074

9,210

Amounts not attributable to commonshareholders (millions of yen)––

Profit attributable to owners of parent
related to common shares (millions of
yen)

7,074

9,210

Average number of common shares
outstanding during the period(thousands of shares)

11,47011,474

4.

The basis for calculation of net assets per share is as follows.
As of March 31, 2021

As of March 31, 2022

Total net assets (millions of yen)

67,35776,004

Amount subtracted from total net
assets (millions of yen)

143

168

[Of which non-controlling interests(millions of yen)]

[143]

[168]

Net assets at the end of period
attributable to common share(millions of yen)

67,21475,836

Number of common shares at the endof period used to calculate net assets
per share (thousands of shares)

11,477

11,454

5.

As described in “Changes in accounting policies,” the Company has applied the “AccountingStandard for Revenue Recognition” etc. As a result, net assets per share and basic earnings
per share increased by ¥6.43 and ¥5.39, respectively.

- 22 -

Significant subsequent events(Share Split and Partial Amendments to the Articles of Incorporation in Accordance with the Share
Split)The Company resolved at a meeting of its Board of Directors held on May 12, 2022, to implementa share split and make partial amendments to the Articles of Incorporation in relation to the share
split.
(1) Purpose of the share split
The purpose of the share split is to create a more investment-friendly environment and broaden theinvestment base by reducing the price per investment unit of the Company’s shares.
(2) Outline of the share split(i) Method of share split
The Company will implement a 4-for-1 share split of common shares owned by shareholders
recorded in the closing register of shareholders with a record date of September 30, 2022.
(ii) Increase in the number of shares due to the share split
Total number of issued shares before the share split
Increase in the number of shares due to the share split
Total number of issued shares after the share split
Total number of shares authorized to be issued after the share split(iii) Schedule of the share split
Public notice of record date:
Record date:
Effective date:

11,589,925 shares
34,769,775 shares
46,359,700 shares
101,568,000 shares

September 14, 2022 (scheduled)
September 30, 2022 (scheduled)
October 1, 2022 (scheduled)(iv) Effect on per share information
Per share information on the premise that the share split was conducted at the beginning of theprevious fiscal year is as follows.
Fiscal year ended March 31, 2021
(From April 1, 2020 to March 31,
2021)
Net assets per share
Basic earnings per share

Fiscal year ended March 31, 2022
(From April 1, 2021 to March 31,
2022)¥1,464.06¥1,655.14¥154.18¥200.67(3) Partial amendments to the Articles of Incorporation in relation to the share split(i) Reason for the amendments to the Articles of Incorporation
In conjunction with the share split, pursuant to Article 184, paragraph 2 of the Companies Act,
the Company will amend the total number of authorized shares prescribed in Article 6 (Total
Number of Shares Authorized to Be Issued) of the current Articles of Incorporation on October
1, 2022.
(ii) Details of the amendments to the Articles of Incorporation
The details of the amendments are as follows.
(Underlines indicate amended sections)
Current Articles of Incorporation
Article 6. (Total Number of Shares Authorized to Be
Issued)The total number of shares authorized to be issued by
the Company shall be 25,392,000 shares.

Proposed Amendments
Article 6. (Total Number of Shares Authorized to Be
Issued)The total number of shares authorized to be issued by
the Company shall be 101,568,000 shares.

(iii) Schedule for the amendments to the Articles of Incorporation
Date of Board of Directors resolution:
May 12, 2022
Effective date:
October 1, 2022 (scheduled)- 23 -

(4) Other
The amount of the Company’s share capital will not change as a result of the share split.

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