Consolidated Financial Results
for the Three Months Ended June 30, 2023
[Japanese GAAP]
July 27, 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: August 9, 2023
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Not available
Schedule of quarterly financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 to June 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
Three months ended
Million yen%
Million yen%
Million yen%
Million yen%
June 30, 2023
17,626 25.2
450
3.2
659
15.8
467
(1.8)
June 30, 2022
14,078 20.8
436
352.5
570
320.2
475
136.2
(Note) Comprehensive income: Three months ended June 30, 2023: 495 million yen [(24.5)%]
Three months ended June 30, 2022: 657 million yen [242.5%]
Basic earnings per share

Three months ended
June 30, 2023
June 30, 2022
(2) Consolidated Financial Position
Total assets

Diluted earnings per share
Yen

Yen

14.80
15.04

-

Net assets

Million yen

Equity ratio

Million yen%

45,33645,72447.6
47.9

As of June 30, 2023
95,119As of March 31, 2023
95,377(Reference) Equity: As of June 30, 2023: 45,290 million yen
As of March 31, 2023: 45,678 million yen
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
March 31, 2024
Fiscal year ending
March 31, 2024
0.00
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

Year-end

Total
Yen

Yen

28.00

28.00

19.00

19.00

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%

First half
35,000 10.8
0 (100.0)
0 (100.0)
Full year
76,0005.4
3,000(16.7)
3,000(18.0)(Note) Revision to the financial results forecast announced most recently: None

Profit attributableto owners of parent
Million yen
1,100
3,100

Basic earnings
per share

%
45.5
5.2

Yen
34.53
97.33

* 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):
June 30, 2023: 31,850,000 shares
March 31, 2023: 31,850,000 shares2) Total number of treasury shares at the end of the period:
June 30, 2023: 280,235 shares
March 31, 2023: 280,235 shares
3) Average number of shares during the period:
Three months ended June 30, 2023: 31,569,765 shares
Three months ended June 30, 2022: 31,631,523 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.

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) Notes to the Quarterly Consolidated Financial Statements ..................................................................8(Notes on going concern assumption) ......................................................................................................................... 8(Notes in the case of significant changes in shareholders’ equity) .............................................................................. 8(Segment information, etc.) ......................................................................................................................................... 8
3. Supplementary Information ........................................................................................................................ 10(1) Status of Production, Orders Received, and Sales ................................................................................ 10

1

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the three months under review (from April 1, 2023 to June 30, 2023), the Japanese economy showeda gradual recovery mainly in consumer spending, fueled by increased customer traffic and other favorable factors
due to the relaxation of restrictions on social activities caused by COVID-19. Meanwhile, the future outlook
remained uncertain as the depreciation of the yen and the increase in prices continued.
The world economy has been still unstable. This is because, for example, an economic recovery in China after
the lifting of its zero-COVID policy has been slow due to a stagnant real estate market. In Europe, inflationpressure was still strong and financial policies remained uncertain.
In the shipbuilding and maritime industry, the primary industry in which the Company makes its sales, since
the Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII; a system for ratingships based on the fuel efficiency) took effect in January 2023, there is a need for the early establishment ofvarious environmental technologies, including the development of energy-saving technology, more efficient
operation, and the shift to next-generation fuels.
Under such a corporate environment, the Group’s sales have remained strong for large-sized engines and dual
fuel engines mainly for container ships, while there has been a stable demand for maintenance. In research anddevelopment, in order to realize carbon neutrality in international maritime traffic, we have been working todevelop innovative engines capable of responding to a variety of fuels toward early conversion to zero-emission
fuels.
In the three months under review, consolidated net sales increased by 25.2% year-on-year to 17,626 million
yen. In terms of profit, operating profit increased by 3.2% year-on-year to 450 million yen, ordinary profit
increased by 15.8% year-on-year to 659 million yen, while profit attributable to owners of parent decreased by
1.8% year-on-year to 467 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 27.7% year-on-year to 15,650 million yen while segment income decreased by
10.0% year-on-year to 1,084 million yen, due to surging material prices and other factors despite increases insales of engines and maintenance-related sales.
2. Land-use
Net sales increased by 39.9% year-on-year to 1,124 million yen and segment income of 29 million yen
was recorded (a segment loss of 286 million yen in the previous corresponding period) due to increases insales of engines and maintenance-related sales.
Consequently, net sales for the segment increased by 28.4% year-on-year to 16,775 million yen, and segment
income increased by 21.2% year-on-year to 1,113 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
volume.
2. Real estate leasing-related
In real estate leasing-related, net sales increased slightly while segment income decreased.
3. Electricity sales-related
In electricity sales-related, net sales decreased while segment income increased.
4. Precision parts-related
In precision parts-related, both net sales and segment income decreased.

2

Consequently, net sales for the segment decreased by 16.4% year-on-year to 851 million yen, and segment
income decreased by 51.3% year-on-year to 59 million yen.

(2) Explanation of Financial Position
In assets as of the end of the first quarter under review, cash and deposits increased by 2,117 million yen fromthe end of the previous fiscal year to 28,744 million yen. Further, inventories rose by 2,548 million yen from theend of the previous fiscal year. Meanwhile, due to progress made in collection of trade receivables at the end of
the previous fiscal year, notes and accounts receivable - trade, and contract assets decreased by 2,937 million yen.
Other current assets decreased by 1,318 million yen due mainly to a decrease in consumption taxes refund
receivable. As a result, total assets decreased by 257 million yen to 95,119 million yen from the end of theprevious fiscal year.
In liabilities, notes and accounts payable - trade and electronically recorded obligations - operating in total
increased by 959 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 290 million yen. Also, income taxes
payable decreased by 367 million yen due to payment of income tax. As a result, total liabilities increased by 130
million yen from the end of previous fiscal year to 49,783 million yen.
In net assets, retained earnings decreased by 416 million yen due to the payment of cash dividends and otherfactors. As a result, total net assets decreased by 388 million yen from the end of the previous fiscal year to45,336 million yen. Equity ratio at the end of the first quarter under review decreased by 0.3 points from the endof the previous fiscal year to 47.6%.
(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, no revisions havebeen made to the forecast announced on June 29, 2023.
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 June 30, 2023

26,62728,744

20,883

17,945

14,5483,339(8)65,38917,0962,020(8)65,799

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

8,798
6,571
5,084
297
969
21,721
527

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

2,469
4,160
446
(4)
7,071
29,32095,119(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 June 30, 2023

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

8,810
7,588
6,017
134
159
269
16
4,890
4,769
32,656

8,800
183

6,953
164

46

34

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

7,330
196
2,447
17,12749,7832,434
2,175
40,865(130)
45,3442,434
2,175
40,448(130)44,928

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

347
(194)
377
(167)
362
45
45,336
95,119(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
For the three months ended June 30(Million yen)
For the three months
ended June 30, 2022
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
Subsidy income
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 - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

6

For the three months
ended June 30, 2023

14,078
10,862
3,216

17,626
14,387
3,239

2,174
605
2,779
436

2,065
723
2,789
450

1
15

2
23

17

40

88
26
0
11
161

132
11
0
26
237

22
5
28
570

20
7
28
659

0
111
111

2
86
88

1
1
679
104
97
202
477
1
475

3
3
745
194
83
278
467
(0)
467

Quarterly Consolidated Statements of Comprehensive Income
For the three months ended June 30(Million yen)
For the three months
ended June 30, 2022
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-controllinginterests

7

For the three months
ended June 30, 2023
477

467

12
(13)
74
26

2
(166)
39
99

81

54

179
657

28
495

655

496

1

(0)

(3) 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 three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)
There is no relevant information.
(Segment information, etc.)
1. Information on net sales and profit (loss) by reportable segment
For the three months ended June 30, 2022 (from April 1, 2022 to June 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

12,256804

13,0601,018

14,078-14,078

-

-

-

-

-

-

-

Total

12,256804

13,0601,018

14,078-14,078Segment income (loss)

1,204

(286)

918

123

1,041

(605)

436

(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.

8For the three months ended June 30, 2023 (from April 1, 2023 to June 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)15,650

1,124

16,775851

17,626-

17,626

-

-

-

-

-

-

-

15,650

1,124

16,775851

17,626-

17,626

1,084

29

1,113

59

1,173

(723)

450

*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.

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

VolumeAmountYear-on-year change

Horsepower%

Internal combustion engines
Marine-use engines

304,946

15,65027.7

Land-use engines

2,135

1,124

39.9

-

691

(19.4)

17,467

25.5

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 three months ended June 30, 2023 are as follows:(Million yen)Orders received
Segment

VolumeAmountHorsepower

Order backlogs
Year-on-yearchange%Horsepower(19.8)

1,872,712(22.9)

101,670(32.7)-

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

240,134

Land-use engines

16,774

Other

Total

(Notes)13,538[7,479]
2,364
[33]
688
[-]
16,590[7,512](20.9)

56,146[28,983]
6,534
[779]
859
[-]
63,540[29,763]

17.9(16.4)
12.7
13.1*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.

103) Sales results
Sales by segment for the three months ended June 30, 2023 are as follows:
Segment

VolumeHorsepower

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

304,946

15,65061.2
27.7[9,576]Land-use engines
2,135
1,124
3.2
39.9
[36]
Other
851
(16.4)[-]
17,626
Total
54.5
25.2
[9,613](Notes) *1 Figures in brackets [ ] indicate export volume, and are included in totals.
*2 Major export destinations and compositions are as follows:
Asia (71.7%), Europe (20.4%), Latin America (4.8%), North America (2.3%), Others (0.8%)*3 The “Other” segment includes precision parts-related (420 million yen), industrial machinery-related (270 million
yen) and real estate leasing-related (159 million yen).
*4 The figures above do not include consumption taxes.

11