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

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
<under Japanese GAAP>May 13, 2024
ORGANO CORPORATIONTokyo Stock Exchange
6368
https://www.organo.co.jp/english/
Masayuki Yamada, Representative Director and President
Shigeru Sonobe, General Manager of Accounting Dept., Corporate Management andPlanning
TEL:+81-3-5635-5111
Scheduled date of ordinary general meeting of shareholders:June 27, 2024
Scheduled date to commence dividend payments:
June 28, 2024
Scheduled date to file annual securities report:
June 27, 2024
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, 2024
(from April 1, 2023 to March 31, 2024)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen% Millions of yen% Millions of yen%
Fiscal year ended
March 31, 2024
150,356
13.5
22,54448.2
23,425
46.2
March 31, 2023
132,426
18.2
15,21240.2
16,02038.8
Note:
Comprehensive income: Fiscal year ended March 31, 2024
¥19,112 million [51.7%]
Fiscal year ended March 31, 2023
¥12,602 million [21.1%]

Basic earnings
per share
Fiscal year ended
March 31, 2024

Diluted earnings
per shareYen

376.92Return on equity

Yen－

Millions of yen%

17,31011,73047.6
27.4

Ratio of ordinary
profit to total
assets%18.4

Operating profit
ratio

%

13.5

%

15.0

March 31, 2023
255.77
–
14.5
10.8
11.5
(Reference) Share of profit (loss) of entities accounted for using equity method
Fiscal year ended March 31, 2024
¥203 million
Fiscal year ended March 31, 2023
¥208 million
The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Basic earnings per share are calculatedon the assumption that said share split was conducted at the beginning of the previous fiscal year.

(2) Consolidated financial position
Total assets

Net assets

Equity-to-asset ratio

Net assets per share

Yen
As of
March 31, 2024
182,703102,14755.8
2,218.53
March 31, 2023
164,854
86,37152.3
1,877.80(Reference) Equity: As of March 31, 2024
¥101,928 million
As of March 31, 2023
¥86,170 million
The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Net assets per share are calculatedon the assumption that said share split was conducted at the beginning of the previous fiscal year.
Millions of yen

Millions of yen%

(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended

Cash flows frominvesting activities

Millions of yen

Cash flows fromfinancing activities

Cash and cash
equivalents
at end of period

Millions of yen

Millions of yen

March 31, 2024

3,726

Millions of yen(1,415)(641)

17,642

March 31, 2023

(18,536)(1,309)14,706

15,558

2. Cash dividends
Ratio of
Total cash
dividends
toPayoutratio
dividends(consolidated) net assets(annual)Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Yen

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

Yen

Fiscalyear-end

Yen

Total

Yen

(consolidated)

Yen

Millions of
yen

%

%

–

116.00

–

33.00

–

2,853

24.2

3.5

–

41.00

–

61.00

102.00

4,694

27.1

5.0

Fiscal year ending
March 31, 2025
–
53.00
–
53.00
106.0030.2(Forecast)
The Company conducted a 4-for-1 common share split effective as of October 1, 2022. The second quarter-end dividend pershare for the fiscal year ended March 31, 2023 was stated before taking into account the effect of this share split, and the total
annual dividend for the year was stated as “–”. The annual dividend per share for the fiscal year ended March 31, 2023 that has
been calculated based on post-share split figures is ¥62.

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2025
(from April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year changes.)
Net sales
Millionsof yenSix months ending
September 30, 2024
(cumulative)
Fiscal year ending
March 31, 2025

Operating profit%

Millionsof yenProfit attributable toowners of parent

Ordinary profit%

Millionsof yen%Millionsof yenBasicearnings
per share%Yen

70,000

6.9

8,500

8.2

8,500

(0.5)

5,500

(0.7)

119.71

155,000

3.1

23,0002.0

23,000(1.8)

16,100(7.0)

350.43

* 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: Noneb. Changes in accounting policies due to other reasons: Nonec. Changes in accounting estimates: None
d. Restatement: None
(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, 2024

46,359,700 shares

As of March 31, 2023

46,359,700 sharesb. Number of treasury shares at the end of the period
As of March 31, 2024

415,524 shares

As of March 31, 2023

470,795 sharesc. Average number of shares outstanding during the period
For the fiscal year ended March 31, 2024

45,925,048 shares

For the fiscal year ended March 31, 2023

45,863,749 shares

Notes:
1. The Company conducted a 4-for-1 common share split effective as of October 1, 2022. The average number ofshares outstanding during the period is calculated on the assumption that said share split was conducted at the
beginning of the previous fiscal year.
2. The Company has introduced an Officer Share Delivery Trust, and shares of the Company held by the Trust
have been included in treasury shares excluded from the calculation of the number of treasury shares at the endof the period and the average number of shares outstanding during the period.

[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2024
(from April 1, 2023 to March 31, 2024)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended
March 31, 2024
March 31, 2023

Operating profit

Millions of yen

92,44078,387% Millions of yen

17.9
11.9

Basic earnings
per share

12,885
8,834

Ordinary profit% Millions of yen

45.9
30.4

16,102
11,026

Profit% Millions of yen

46.0
27.2

12,673
8,593

%

47.5
14.9

Diluted earnings
per share

Yen
Yen
Fiscal year ended
March 31, 2024
275.96–
March 31, 2023
187.36–The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Basic earnings per share are calculatedon the assumption that said share split was conducted at the beginning of the previous fiscal year.

(2) Non-consolidated financial position
Total assets
As ofMarch 31, 2024
March 31, 2023

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

133,909125,235

78,491
68,82458.6
55.0

1,708.41
1,499.80(Reference) Equity:

As of March 31, 2024
¥78,491 million
As of March 31, 2023
¥68,824 million
The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Net assets per share are calculated on
the assumption that said share split was conducted at the beginning of the previous fiscal year.

<Reasons for year-on-year differences in non-consolidated financial results>
Differences between the results for the fiscal year under review and the results for the previous fiscal year
occurred for the same reasons stated in “(1) Overview of operating results for the fiscal year under review”
in “1. Overview of operating results, etc.” on 2 of the attached material.
* 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 the Company.
Actual business and other results may differ substantially due to various factors. Please refer to “(4) Future
outlook” in “1. Overview of operating results, etc.” on page 7 of the attached material for the 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 ...................................................... 6(3) Overview of cash flows for the fiscal year under review .................................................................. 6(4) Future outlook...................................................................................................................................... 6
2. Basic policy regarding the 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 ............................................................................................. 14(5) Notes to consolidated financial statements ...................................................................................... 16
Notes on premise of going concern .................................................................................................. 16
Changes in presentation ................................................................................................................... 16
Segment information, etc. ................................................................................................................ 16
Per share information ...................................................................................................................... 19
Significant subsequent events .......................................................................................................... 20- 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, 2024 (from April 1, 2023 to March 31, 2024), the global economy
remained firm against the backdrop of the strong U.S. economy, despite the slowdown of the Chinese
economy and rising geopolitical risks in the Middle East and other regions. The Japanese economy has
also been showing signs of improvement, such as raising interest rates due to the lifting of the negativeinterest rate policy for the first time in 17 years and the Nikkei Stock Average reaching the highest levelin 34 years.
In the electronics industry, the Organo Group’s main market, in addition to investment in cutting-edge
semiconductors for artificial intelligence (AI) and other applications, capital investment in power
semiconductors for electric vehicles (EVs) and automotive semiconductors as well as semiconductormaterials such as silicon wafers remained at a high level. In the general industry, capital investment was
brisk in pharmaceuticals and cosmetics and in electronics peripherals, while in the electric power/watersupply and sewage field, service solutions, etc. for the resumption of operation of nuclear power stations
remained robust.
Under these conditions, in order to promote order-taking and delivery activities for large-scale projects
in Japan and overseas, the Organo Group has been establishing engineering and service solution
frameworks, improving operational efficiency through the use of digital technology, and working on
expanding production and delivery capacities by strengthening its global supply chains and throughcollaboration with partner companies. Moreover, we have strengthened R&D aimed at the creation of
next-generation technology and new businesses, worked on securing and developing human resources,
and stepped up efforts to enhance sustainability and governance.
As a result, for the fiscal year ended March 31, 2024, orders received decreased by 16.7% year on yearto ¥144,468 million, net sales increased by 13.5% year on year to ¥150,356 million, operating profit
increased by 48.2% to ¥22,544 million, ordinary profit increased by 46.2% to ¥23,425 million, profit
attributable to owners of parent increased by 47.6% to ¥17,310 million, and return on equity (ROE) was
18.4%, compared to 14.5% for the previous fiscal year. Although orders received decreased from theprevious fiscal year during which a series of investments for large-scale projects were made, net sales
and the respective profit figures surpassed the actual results of the previous fiscal year and the levels of
the initial plan across the board and achieved record highs as in the previous fiscal year. The carry-overbalance for the order backlog, which will form the basis for sales from the next fiscal year onward, was¥115,618 million (down 1.7% year on year). Centering on large-scale semiconductor projects, etc., theorder backlog remained at a high level.
(Millions of yen)

Category

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

78th term
Fiscal year ended
March 31, 2023

79th term(Fiscal year under review)
Fiscal year ended March 31, 2024

Year-on-year

Actual-toforecast

173,491

Initial plan
150,000

Actual result
144,468(16.7)%(3.7)%

117,659

117,659

115,618(1.7)%(1.7)%

132,426
15,212
11.5
16,020150,000
16,00010.7
16,000150,356
22,54415.0
23,425

13.5%
48.2%
－
46.2%

0.2%
40.9%
－
46.4%

11,730

11,20017,310

47.6%

54.6%

14.5

12.6

18.4

－

－

- 2 -

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

Net sales ratio

Orders received¥122,122 million (Down 19.9% year on year)

Net sales¥127,995 million (Down 14.7% year on year)

Operating profit¥19,582 million (Up 51.0% year on year)

85.1%

Major Business●Major Business and ProductsPlant Division
Pure and ultrapure waterproduction facilities
Industrial process water
treatment facilities
Wastewater treatment
and recovery 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
maintenanceElectronics
industry
Semiconductors

Flat panel
display
Electronic
partsElectric power/
water supply
and sewage
Power plants
Water
purification
plantsSewagetreatment
plantsGeneralindustry
Pharmaceuticals,
cosmetics
Food andbeverage
Machinery andchemicals■Orders received
Orders received decreased 19.9% year on year to ¥122,122 million. In the electronics industry, although
we received orders for large-scale projects in Japan related to silicon wafers and power semiconductors,
orders received decreased due to a decline in orders received overseas in the aftermath of a series oflarge-scale semiconductor projects in China, Taiwan, Malaysia, etc. in the previous fiscal year. On theother hand, orders received increased in the general industry and the social infrastructure field, such as
electric power/water supply and sewage. This was mainly attributed to orders received for plant projects
in pharmaceuticals and electronic peripherals and projects for solutions for the resumption of operationof nuclear power stations.
■Net sales
Net sales increased 14.7% year on year to ¥127,995 million. In the electronics industry, net sales
increased due to mostly steady progress in the construction of large-scale projects ordered, such as thoserelated to semiconductors, and strong sales of solution services through the enhancement of facilityowned services for semiconductor plants in Japan and an increase of various maintenance services. In
the general industry, net sales increased due to progress in the construction of plant projects ordered andgrowth in the Service Solutions Division, including maintenance services. On the other hand, in the social
infrastructure field, such as electric power/water supply and sewage, net sales decreased slightly due toa decrease in the number of on-hand plant projects, such as those for water purification plants.
■Operating profit
Operating profit increased 51.0% year on year to ¥19,582 million. This was attributable to an increase in
the number of large-scale plant projects in the electronics and general industries and the expansion ofsolution services, whose profitability is relatively high, including facility-owned services and various
maintenance services. In addition, improved profitability of orders received against the backdrop of
active capital investment as well as various cost reduction and profit improvement initiatives resulted ina higher gross profit margin.

- 3 -- 4 -

[Performance Products Business Unit]

Net sales ratio

Orders received¥22,346 million (Up 6.1% year on year)

Net sales¥22,360 million (Up 7.4% year on year)

Operating profit¥2,961 million (Up 31.8% year on year)

14.9%

Major Business●Major Business and Products
Water Treatment Chemicals
Division
RO membrane protection
chemicals, Wastewater treatment
chemicals, Cooling water treatment
chemicals, Cleaning chemicals,
Boiler 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 6.1% year on year to ¥22,346 million and net sales increased 7.4% year on
year to ¥22,360 million. In the water treatment chemicals field, sales of various water treatment
chemicals, such as RO membrane protection chemicals and wastewater treatment chemicals, to theelectronics industry were brisk. In the standard water treatment equipment and filters field, sales ofsmall-scale pure water production equipment, such as Puric ω (omega) II ultrapure water production
equipment for medical and research institutions launched in December 2023, and sales of water
purification filters for coffee machines and vending machines were also strong. In the food products
field, sales of various food processing agents for processed foods, among others, were brisk.
■Operating profit
Operating profit increased 31.8% year on year to ¥2,961 million. In addition to strong sales in the water
treatment chemicals, standard water treatment equipment and filters, and food products fields, anincrease in sales of relatively high-margin products, such as water treatment chemicals, and progress inpassing on higher costs in line with increases in raw material prices to selling prices, resulted in higher
operating profit.

- 5 -(2) Overview of financial position for the fiscal year under review
Current assets
Current assets as of March 31, 2024 amounted to ¥153,469 million, an increase of ¥16,703 million fromthe previous fiscal year end. This was mainly due to an increase of ¥17,960 million in investments inleases, despite a decrease of ¥12,664 million in work in process.
Non-current assets
Non-current assets as of March 31, 2024 amounted to ¥29,233 million, an increase of ¥1,145 million
from the previous fiscal year end. This was mainly due to an increase of ¥1,139 million in retirement
benefit assets.
Current liabilities
Current liabilities as of March 31, 2024 amounted to ¥72,602 million, an increase of ¥3,863 million fromthe previous fiscal year end. This was mainly due to an increase of ¥4,940 million in short-termborrowings.
Non-current liabilities
Non-current liabilities as of March 31, 2024 amounted to ¥7,953 million, a decrease of ¥1,790 million
from the previous fiscal year end. This was mainly due to a decrease of ¥1,495 million in long-termborrowings.
Net Assets
Net assets as of March 31, 2024 amounted to ¥102,147 million, an increase of ¥15,776 million from theprevious fiscal year end. This was mainly due to an increase of ¥13,904 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, 2024 increased by ¥2,084 million fromthe previous fiscal year end to ¥17,642 million.
Cash flows from operating activities
Net cash provided by operating activities was ¥3,726 million. This was mainly because there was anincrease in cash due to profit before income taxes despite a decrease in cash due to the construction offacilities for contract water treatment. (Net cash of ¥18,536 million was used in the fiscal year ended
March 31, 2023.)
The increase in investments in leases of ¥17,960 million and the decrease in inventories of ¥9,128 million
in the statement of cash flows were mainly due to the transfer from inventories to investments in leases
due to the completion of facilities for contract water treatment.
Cash flows from investing activities
Net cash used in investing activities was ¥1,415 million. This was mainly because there was a decreasein cash due to the purchase of property, plant and equipment of ¥1,191 million. (Net cash of ¥1,309
million was used in the fiscal year ended March 31, 2023.)
Cash flows from financing activities
Net cash used in financing activities was ¥641 million. This was mainly because there were decreases incash due to dividends paid of ¥3,405 million and repayments of long-term borrowings of ¥1,700 million
while there was an increase in cash due to an increase in short-term borrowings of ¥4,676 million. (Netcash of ¥14,706 million was provided in the fiscal year ended March 31, 2023.)(4) Future outlook
With respect to the earnings forecasts for the fiscal year ending March 31, 2025, plans call for orders
received of ¥155,000 million (up 7.3% year on year), net sales of ¥155,000 million (up 3.1% year onyear), operating profit of ¥23,000 million (up 2.0% year on year), ordinary profit of ¥23,000 million(down 1.8% year on year), profit attributable to owners of parent of ¥16,100 million (down 7.0% year
on year), and return on equity (ROE) of 15.0%.
Regarding orders received, we anticipate receiving orders for several large-scale semiconductor-related
projects planned in Japan and overseas in the electronics industry and orders in the general industry andthe social infrastructure field at a level exceeding that of the previous fiscal year. We forecast an increasein net sales, as we expect generally steady progress in the construction of large-scale projects, which areincluded in the carry-over balance for order backlog, as well as higher sales in maintenance for facility- 6 -owned services and delivered facilities and in water treatment chemicals, among others. In terms ofoperating profit, we anticipate an increase in profits due to the effect of increased revenue from the
expansion of sales, which will offset increases in costs of human resources-related investment, including
the strengthening of systems for capacity expansion in engineering and solutions and human resource
development and utilization, outsourcing, investments for digital technology, and R&D. Meanwhile, we
forecast a decrease in ordinary profit and profit attributable to owners of parent, because foreign exchange
gains reflecting the depreciation of the yen and a gain on sale of securities were recorded in the previous
fiscal year, among other factors.

Category
Orders received
Carry-over balance for order backlog
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,
2025
Change2024
Initial plan
144,468
155,000
7.3%
115,618
115,6180.0%
150,356
155,000
3.1%
22,54423,000
2.0%
－
15.0
14.8
23,42523,000(1.8)%
17,310
16,100(7.0)%－
18.4
15.0

2. Basic policy regarding the 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, 2023

As of March 31, 2024

15,5581,026
39,47017,642
1,144
42,977

2,826

4,452

32,3599,853
7,165
21,886
1,744
4,891
(17)
136,765

33,651
27,814
7,707
9,221
4,902
3,978
(23)
153,469

AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Electronically recorded monetary claims operating
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

19,183(13,104)
6,078
6,582
(5,452)
1,129
12,296
118
5,955(4,784)
1,171
20,795
949
2,430
815
2,673
596
(171)
6,343
28,088164,854- 8 -19,526(13,550)
5,976
6,706
(5,828)877
12,304148
6,557(5,229)1,327
20,634
986
2,835
1,955
2,404
600
(183)
7,613
29,233
182,703(Millions of yen)
As of March 31, 2023

As of March 31, 2024

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

19,842
2,839
34,065
3,605
3,920
1,890
1,686
83

105

107

5,284
68,7384,561
72,602

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

2,400
59
5,344
149
7,953
80,5558,225
7,508
69,002(613)
84,1238,225
7,508
82,907(518)
98,122

539

774

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

－
1,923
1,108
3,805
219
102,147
182,703

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Contract liabilities
Provision for bonuses
Provision for product warranties
Provision for loss on construction contracts
Provision for share awards for directors (andother officers)
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets- 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
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Gain on liquidation of subsidiaries
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on abandonment of non-current assets
Loss on sale of investment securities
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, 2023
(From April 1, 2022 toMarch 31, 2023)
132,426
97,44934,976
19,763
15,212- 10 -(Millions of yen)
Fiscal year ended
March 31, 2024
(From April 1, 2023 toMarch 31, 2024)
150,356
106,51443,841
21,29722,544

35
44
559

138
47
546

208

203

130
978

205
1,142

159
10
170
16,020240
20261
23,425

5
40
－
46

13
191
57
262

0
28
1
31
16,035
4,628
(357)
4,270
11,76434
11,730－55－
55
23,633
6,503
(205)
6,298
17,33424
17,310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, 2023
(From April 1, 2022 toMarch 31, 2023)
11,764- 11 -(Millions of yen)
Fiscal year ended
March 31, 2024
(From April 1, 2023 toMarch 31, 2024)
17,334

104

232

(2)
625

2
748

110

792

0

2

837
12,602

1,777
19,112

12,55919,06843

43

(3) Consolidated statement of changes in equity
Fiscal year ended March 31, 2023 (From April 1, 2022 to March 31, 2023)(Millions of yen)
Shareholders’ equity
Share capital

Capital surplus

Retained earnings

Treasury shares

8,225

7,508

59,619(734)

Balance at beginningof period
Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders’equityTotal changes during
periodBalance at end of
periodTotal shareholders’equity74,617(2,347)(2,347)

11,73011,730

0

(4)

(4)

125

125

–

0

9,383

121

9,505

8,225

7,508

69,002(613)

84,123

Accumulated other comprehensive income
Valuationdifferenceonavailablefor-salesecurities
Balance at beginningof period
Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of
period434

Deferred gains
or losses onhedges(0)Foreigncurrencytranslation
adjustment
575

Remeasurements ofdefinedbenefit plans
208

Total
accumulated Non-controlling Total net assetsinterests
othercomprehensive
income1,218

168

76,004(2,347)
11,730
(4)
125

104

(2)

616

109

828

32

861

104

(2)

616

109

828

32

10,366

539

(2)

1,191

317

2,047

201

86,371- 12 -

Fiscal year ended March 31, 2024 (From April 1, 2023 to March 31, 2024)(Millions of yen)
Shareholders’ equity
Share capital

Capital surplus

Retained earnings

Treasury shares

8,225

7,508

69,002(613)

Balance at beginningof period
Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders’equityTotal changes during
periodBalance at end of
periodTotal shareholders’equity84,123(3,405)(3,405)

17,31017,310
(2)

(2)

97

97

－

－

13,90495

13,999

8,225

7,508

82,907(518)

98,122

Accumulated other comprehensive income
Valuationdifferenceonavailablefor-salesecurities
Balance at beginningof period
Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of
period539

Deferred gains
or losses onhedges(2)

Foreigncurrencytranslation
adjustment
1,191

Remeasurements ofdefinedbenefit plans
317

Total
accumulated Non-controlling Total net assetsinterests
othercomprehensive
income2,047

201

86,371(3,405)
17,310
(2)
97

234

2

731

790

1,758

17

1,776

234

2

731

790

1,758

17

15,776

774

－

1,923

1,108

3,805

219

102,147- 13 -

(4) Consolidated statement of cash flows
Fiscal year ended
March 31, 2023
(From April 1, 2022 toMarch 31, 2023)
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)
Loss (gain) on liquidation of subsidiaries
Share of loss (profit) of entities accounted forusing equity method
Loss (gain) on sale of non-current assets
Loss on abandonment of non-current assets
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables andcontract assets
Decrease (increase) in investments in leases
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Proceeds from insurance income
Income taxes refund (paid)
Other, net
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Loan advances
Proceeds from collection of loans receivable
Other, net
Net cash provided by (used in) investing activities- 14 -(Millions of yen)
Fiscal year ended
March 31, 2024
(From April 1, 2023 toMarch 31, 2024)

16,035
1,824
652
171
(211)
(80)
159
(233)
–

23,633
2,010
1,111
64
(239)
(186)
240
(43)
(57)

(208)

(203)

(4)
28
(39)

(13)
55
(191)

(19,954)(4,825)

1,439(17,295)
664
1,666(15,384)
93
(168)
71
(3,147)－(18,536)(17,960)
9,128(3,721)
814
9,614
198
(238)
114
(5,965)
3
3,726(1,205)(1,191)

5

14

(247)
(301)
73
–
300
64
(1,309)

(456)
(2)
254
(30)
－
(5)
(1,415)Fiscal year ended
March 31, 2023
(From April 1, 2022 toMarch 31, 2023)
Cash flows from financing activities
Net increase (decrease) in short-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
Cash and cash equivalents at end of period- 15 -(Millions of yen)
Fiscal year ended
March 31, 2024
(From April 1, 2023 toMarch 31, 2024)

19,138(1,900)(4)(2,347)(10)(170)
14,706

4,676(1,700)(2)(3,405)
(25)
(184)
(641)

500

415

(4,639)20,19815,5582,084
15,55817,642

(5) Notes to consolidated financial statements
Notes on premise of going concern
No items to report
Changes in presentation
Consolidated statement of cash flows“Loss (gain) on valuation of derivatives” under “Cash flows from operating activities,” which was
separately presented in the previous fiscal year, is included in “Other, net” in the fiscal year under review
because it is no longer material. The consolidated financial statements for the previous fiscal year havebeen reclassified to reflect this change in presentation.
Consequently, ¥(5) million in “Loss (gain) on valuation of derivatives” and ¥1,672 million in “Other, net”
that were presented under “Cash flows from operating activities” in the consolidated statement of cash
flows for the previous fiscal year have been reclassified as ¥1,666 million in “Other, net.”
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 reviews
to determine the 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 businesses 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 recovery facilities,
Valuable material recovery facilities,
Production processing-related facilities

Service Solutions Division

Replacement of expendable items,
Maintenance, Operational support services,
Renovation and reconditioning, Contract water
treatment, Comprehensive maintenance

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 systems,
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 methods 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.

- 16 -

3. Net sales, profit (loss), assets, liabilities, and other items by reportable segment
Fiscal year ended March 31, 2023 (From April 1, 2022 to March 31, 2023)(Millions of yen)
Reportable Segment
Water
Treatment
Engineering
Business Unit

Performance
Products
Business Unit

Net sales
Sales to external customers
Intersegment sales or transfers

111,601020,824
347

Total

Adjustment(Note 1)

Reported inconsolidated
financialstatements

132,426
348

–
(348)

132,426–

Total

111,60221,172

132,774(348)

132,426

Segment profit

12,966

2,246

15,212–

15,212

Segment assets

141,199

18,387

159,587

5,266

164,854

Other items
Depreciation
1,476
347
1,824
–
1,824
Investment in entities
accounted for using equity
1,305
–
1,305
–
1,305
methodIncrease in property, plant andequipment and intangible
1,232
234
1,466
–
1,466
assets
Notes: 1. The adjustments of ¥5,266 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, 2024 (From April 1, 2023 to March 31, 2024)(Millions of yen)
Reportable Segment
Water
Treatment
Engineering
Business Unit

Performance
Products
Business Unit

127,995

22,360Total

Adjustment(Note 1)

Reported inconsolidated
financialstatements－

150,356

Net sales
Sales to external customers
Intersegment sales or transfers
Total

150,356

0

395

396

(396)

－

127,996

22,756

150,752(396)

150,356

Segment profit

19,582

2,961

22,544－22,544

Segment assets

157,765

17,542

175,308

7,394

182,703

1,668

341

2,010

－

2,010

Other items
Depreciation

Investment in entities
accounted for using equity
1,500
－
1,500
－
1,500
methodIncrease in property, plant andequipment and intangible
1,483
372
1,855
－
1,855
assets
Notes: 1. The adjustments of ¥7,394 million for segment assets are mainly deferred tax assets, retirement benefit asset, andlong-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.

- 17 -

[Related information]
Fiscal year ended March 31, 2023 (From April 1, 2022 to March 31, 2023)
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

Taiwan82,796

Note:

23,504China

Southeast Asia

11,691

Other

10,217(Millions of yen)
Total

4,216

132,426

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
Because there is no external customer for which sales account for 10% or more of net sales recordedon the consolidated statement of income, this information is not presented.
Fiscal year ended March 31, 2024 (From April 1, 2023 to March 31, 2024)
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

Taiwan96,544Note:

18,555China

Southeast Asia

19,996Other

13,110(Millions of yen)
Total

2,149

150,356

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.

Note:

(Millions of yen)
Related segment

Net sales
23,198Water Treatment Engineering Business
Unit

Net sales comprise sales to Taiwan Semiconductor Manufacturing Company, Ltd. and to its corporategroup.

[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- 18 -

Per share information
Fiscal year ended March 31, 2023
(From April 1, 2022 to March 31,
2023)
Net assets per share

Fiscal year ended March 31, 2024
(From April 1, 2023 to March 31,
2024)¥1,877.80¥2,218.53¥255.77¥376.92

Basic earnings per share

Notes: 1. Diluted earnings per share is not presented since no potential shares exist.
2. The Company conducted a 4-for-1 common share split, effective as of October 1, 2022. Net assets
per share and basic earnings per share are calculated on the assumption that said share split was
conducted at the beginning of the previous fiscal year.
3. When calculating net assets per share in the fiscal year ended March 31, 2024, common shares of
the Company held by the Officer Share Delivery Trust have been included in treasury shares
excluded from the total number of issued shares at the end of the period (133 thousand shares atthe end of the fiscal year ended March 31, 2023; 77 thousand shares at the end of the fiscal year
ended March 31, 2024). Moreover, when calculating basic earnings per share, they have been
included in treasury shares excluded from the calculation of the average number of shares
outstanding during the period (158 thousand shares in the fiscal year ended March 31, 2023; 96
thousand shares in the fiscal year ended March 31, 2024).
4. The basis for the calculation of basic earnings per share is as follows.
Fiscal year ended March 31, 2023
(From April 1, 2022 to March 31,
2023)

Fiscal year ended March 31, 2024
(From April 1, 2023 to March 31,
20244)

Profit attributable to owners of parent(millions of yen)

11,73017,310

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

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

11,73017,310

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

45,86345,925

5. The basis for the calculation of net assets per share is as follows.
As of March 31, 2023

As of March 31, 2024

Total net assets (millions of yen)

86,371102,147

Amount subtracted from total net
assets (millions of yen)

201

219

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

[201]

[219]

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

86,170101,928

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

45,88845,944- 19 -

Significant subsequent events
Absorption-type merger with a consolidated subsidiary
At a meeting of the Board of Directors held on October 25, 2023, the Company resolved to conduct anabsorption-type merger (hereinafter, the “Merger”), with the Company as the surviving company and its
consolidated subsidiary ORGANO ECO TECH CORPORATION as the disappearing company, andentered into a merger agreement on the same date. The Merger was completed on April 1, 2024.
1. Outline of the transaction(1) Name of constituent companies and description of their business(Surviving company in the absorption-type merger)(i) Company name:ORGANO CORPORATION(ii) Description of business: Manufacture, sale, and maintenance of water treatment facilities andsystems; sale of water treatment chemicals and food processing agents(Disappearing company in the absorption-type merger)(i) Company name:ORGANO ECO TECH CORPORATION(ii) Description of business: Manufacture, sale, and maintenance of water treatment facilities andsystems; sale of water treatment chemicals(2) Date of business combination
April 1, 2024
(3) Legal form of business combination
Absorption-type merger, with the Company as the surviving company and ORGANO ECO TECHCORPORATION as the disappearing company(4) Name of company after combination
ORGANO CORPORATION(5) Other matters concerning the outline of the transaction
To strengthen the engineering structure as outlined in the Medium-Term Management Plan,concentrate management resources, and build an efficient delivery system, the Company decided
to conduct the absorption-type merger with the consolidated subsidiary.
2. Outline of the implemented accounting processes
The transaction was treated as a common control transaction in accordance with the “AccountingStandard for Business Combinations” (ASBJ Statement No. 21, January 16, 2019) and the“Implementation Guidance on Accounting Standard for Business Combinations and AccountingStandard for Business Divestitures” (ASBJ Guidance No. 10, January 16, 2019).

- 20 -