Financial Results Briefing
First Half of the Fiscal Year Ending
March 31, 2024

November 9, 2023

Summary◼

With a high level of order backlog, both engines and maintenance remained strong. Both net sales and profit increased.

◼

Sales for overseas locations contributed to earnings as the yen depreciated more than expected.

◼

Extraordinary income was recorded as a result of a sale of shares of OMT S.P.A. (Italy).

(Million yen)

FY2023September 2022
Results

FY2024September 2023
Results

YoY difference
Increase/Decrease(%)

31,58437,2205,635

17.8Operating income

667

938

270

40.6

Ordinary income

832

1,171

338

40.6

Net income

756

1,888

1,132

149.8

Basic earnings pershare (yen)

23.94

59.79

35.85

149.7

Total assets

91,184

96,0494,864

5.3

Equity ratio (%)

47.7

48.8

--

Net sales2Net Sales and Earnings for the Internal Combustion EngineSection◼ Sales of small and medium-sized engines for bulk carriers and tankers rose in addition to sales of large engines(for container ships and car carriers).
◼ There was a rise in terms of unit in the composition ratio of large engines and dual-fuel engines for environmental

burden reduction-type vessels.
Net sales
Marine-use (Japan)(Million yen) Land-use (Japan)
40,000Earnings for the internal Combustion engine section
Marine-use (overseas)
Land-use (overseas)

35,36463
2,431

35,00029,49920,00015,00021,618

2,738

2,200
2,000

1,619

1,600

181
2,154

20,495
16,963

1,400
1,200

1,217

1,000
800

10,815600

10,000
5,000

2,256

1,800

30,00025,000(Million yen)

8,468

12,373

9,798

400
200

00
September 2021

September 2022

September 2023

*Including maintenance relatedSeptember 2021

September 2022

September 2023

*Including maintenance related3Unit Sales and Maintenance-related Net Sales◼ The composition of large engines increased mainly for overseas, leading Himeji Factory to maintain its highoperational rate.
◼ Maintenance-related net sales maintained double-digit growth year on year as demand continued to be brisk fromthe previous fiscal year.
Units sold
(Unit: Units)
400

Marine-use (Japan)
Land-use (Japan)

250

200

Marine-use (overseas)

347

350
300

Maintenance-related net sales

363
1117275
16(Million yen)
18,00015,44216,000
14,000106

156

12,00013,165
11,502

10,000

98

8,000
150

6,000
224100
161

196

4,000

50

2,000

00
September 2021

September 2022

September 2023

September 2021

September 2022

September 2023

4Earnings Forecasts◼ Demand grew for small and medium-sized engines mainly for bulk carriers and tankers, in addition to large

engines and duel-fuel engines.
◼ We assume that sales of engines and maintenance will remain strong.

YoY difference

FY2023Full-year results

FY2024Full-year forecast

Increase/Decrease

Net sales

72,11378,0005,886

8.2

Operating income

3,601

3,600-1-0.0

Ordinary income

3,660

3,800

139

3.8

Net income

2,948

3,500

551

18.7

Basic earnings pershare (yen)93.37

109.89

16.52

17.7

Annual dividend(yen)

28.00

33.00

517.9

Payout ratio (%)

30.0

30.0

--(Million yen)(%)

Exchange rates: First half of FY2024 (result): ¥136.26 and second half of FY2024 (estimate): ¥135.00
5Order backlog◼ We have secured an amount of work on hand, enough for two-year production of engines.
◼ In the order backlog for engines, the main portion of orders received shifted from large engines to small andmedium-sized ones, centered on bulk carriers and tankers, as a surge in the construction of container ships
calmed down.
Change in order backlog(Million yen)
80,000Marine-use (Japan)
Land-use (Japan)
Other

70,000885

60,000745

67,9548,262

Proportion of order backlog by model as of September 2023

883

779

67,54332,818Dual Fuelengines

7,451

50,00040,000

Large
83%
Small and mediumsized, etc.
17%

Marine-use (overseas)
Land-use (overseas)

30,165

Small andmedium-sizedengines

25%42%

30,00020,00010,00025,24428,265Large engines
33%

0
September 2022

September 2023
*Including maintenance related

6