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 First Three Months of
the Fiscal Year Ending March 31, 2023
<under Japanese GAAP>
August 1, 2022
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 to file quarterly securities report:
August 8, 2022
Scheduled date to commence dividend payments:–
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results presentation meeting:
None

Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Consolidated financial results for the first three months of the fiscal year ending March 31, 2023
(from April 1, 2022 to June 30, 2022)(1) Consolidated operating results (cumulative)
Net sales(Percentages indicate year-on-year changes.)

Operating profit

Millions of yen% Millions of yen%
Three months ended
June 30, 2022
27,835
24.8
2,219
65.8
June 30, 2021
22,307
13.9
1,338
294.5
Note:
Comprehensive income: Three months ended June 30, 2022
Three months ended June 30, 2021

Basic earnings
per share
Three months ended
June 30, 2022
June 30, 2021

Profit attributable toowners of parent

Ordinary profit
Millions of yen%

Millions of yen

%

2,633
61.5
1,630
326.5
¥1,831 million [47.4%]¥1,242 million [–%]

1,495
818

82.7
–

Diluted earnings
per share
Yen

130.56
71.30

Yen

–
–

(2) Consolidated financial position
Total assets
As ofJune 30, 2022
March 31, 2022
(Reference) Equity: As of June 30, 2022

Net assets

Millions of yen

129,665
130,506¥76,636 million

Equity-to-asset ratio

Millions of yen

76,821
76,004As of March 31, 2022

%

59.1
58.1
¥75,836 million

2. Cash dividends
Annual dividends per shareFirst quarter-end Second quarter-end Third quarter-end
Yen

Fiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023

Yen–

Fiscal year-end

Yen

72.00

Total

Yen

–

Yen

88.00

160.00–Fiscal year ending
March 31, 2023
80.00
–
20.00
–
(Forecast)
Note:
Revisions to the forecast of cash dividends most recently announced: None
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
Fiscal year ending
125,000
11.5
11,7007.8
11,7001.3
8,200(11.0)
178.97
March 31, 2023
Note:
Revisions to the earnings forecasts most recently announced: None
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) Application of specific accounting for preparing the quarterly consolidated financial statements: Yes
Note:

For more details, please refer to “Application of special accounting for preparing the quarterly consolidated
financial statements” on page 8 of the attached material.

(3) 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
(4) Number of issued shares (common shares)
a. Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022

11,589,925 shares

As of March 31, 2022

11,589,925 sharesb. Number of treasury shares at the end of the period
As of June 30, 2022

135,496 shares

As of March 31, 2022

135,255 sharesc. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal
year)
For the three months ended June 30, 2022

11,454,551 shares

For the three months ended June 30, 2021

11,477,081 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 (cumulative from the beginning of the fiscal
year).

* Quarterly financial results reports are exempt from quarterly review 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 “(3) Explanation regarding consolidated earnings forecasts and other forward-looking statements” in“1. Qualitative information regarding financial results for the first three months” on page 3 of theattached material for the suppositions that form the assumptions for earnings forecasts and cautions
concerning the use thereof.

Attached Material

Index
1. Qualitative information regarding financial results for the first three months.................................. 2(1) Explanation regarding operating results .......................................................................................... 2(2) Explanation regarding financial position ......................................................................................... 3(3) Explanation regarding consolidated earnings forecasts and other forward-looking statements 3
2. Quarterly consolidated financial statements and significant notes thereto ........................................ 4(1) Consolidated balance sheet ................................................................................................................ 4(2) Consolidated statement of income and consolidated statement of comprehensive income.......... 6
Consolidated statement of income (cumulative) .............................................................................. 6
Consolidated statement of comprehensive income (cumulative) .................................................... 7(3) Notes to quarterly consolidated financial statements ...................................................................... 8
Notes on premise of going concern .................................................................................................... 8
Notes on substantial changes in the amount of shareholders’ equity ............................................. 8
Application of special accounting for preparing the quarterly consolidated financial statements.............................................................................................................................................................. 8
Additional information ...................................................................................................................... 8
Segment information, etc. ................................................................................................................ 10- 1 -1. Qualitative information regarding financial results for the first three months(1) Explanation regarding operating results
During the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022), global economy
brought about gradually mounting uncertainty regarding future trends, with widening inflation centeredon energy and food prices and a further sharp decline in the value of the yen against a backdrop of
Russia’s military invasion of Ukraine and large-scale city lockdowns in China due to the spread of
COVID-19.
The electronics industry, which is the Organo Group’s main market, continues to progress with a highlevel of capital investment and production activity for now, but there are signs of concern over the future
trend in market conditions, including a slowdown in demand for smartphones, PCs and others, and a fallin the price of semiconductor memory. On the other hand, in the general industry field and the social
infrastructure field, such as electric power/water supply and sewage, activity in Japan trended firmly,
particularly in the Service Solutions Division, for operations such as maintenance, while capital
investment showed signs of gradual recovery after a halt due to the COVID-19 pandemic.
Under these conditions, the Organo Group proceeded to draw in orders and make deliveries for largescale projects in Japan and overseas, while expanding the engineering systems and supply chains at basesin each country and promoting R&D on next-generation ultrapure water technology and new separationand purification technologies, and promoting initiatives to strengthen governance, such as developing
risk management systems.
As a result, in the Group’s financial results for the three months ended June 30, 2022, orders received
increased by 39.3% year on year to ¥51,894 million, net sales increased by 24.8% to ¥27,835 million,
operating profit increased by 65.8% to ¥2,219 million, ordinary profit increased by 61.5% to ¥2,633
million, profit attributable to owners of parent increased by 82.7% to ¥1,495 million, and our carry-overbalance for order backlog as of June 30, 2022 was up 48.3% to ¥112,974 million.

Results by segment are as follows.
[Water Treatment Engineering Business Unit]■Orders received
Orders received increased 44.2% year on year to ¥46,790 million. In the mainstay electronics field, theGroup succeeded in capturing orders for large-scale projects in Japan, such as semiconductors and wafers.
Overseas, such as Taiwan, China, and Malaysia, orders increased significantly year on year due to brisk
investment in cutting-edge semiconductors and investments in automotive semiconductors and power
semiconductors, among others. In the general industry field, orders increased, mainly for equipment
modification and renewal projects, as well as maintenance. In the electric power/water supply and sewage
fields trended firmly, mainly for the Service Solutions Division in Japan.
■Net sales
Net sales increased 29.3% year on year to ¥22,877 million. In the mainstay electronics field, net sales
increased significantly year on year, driven by steady performance in construction in Japan and overseas,
including large-scale semiconductor projects, which continue to see brisk investment, while the Service
Solutions Division also performed strongly, mainly in contracted maintenance and processing services.
In addition, in the general industry field, activities continued steadily mainly in the Service Solutions
Division in Japan. Sales also increased year on year in the social infrastructure field, where progress on
construction of large-scale water treatment facilities for a power station was made.
■Operating profit
Operating profit increased 71.7% year on year to ¥1,679 million. Operating profit increased due to asignificant increase in gross profit due to the effect of sales expansion centered on the electronics industry
field, despite increases in expenses, mainly for personnel expenses.

- 2 -[Performance Products Business Unit]■Orders received/Net sales
Orders received increased 6.3% year on year to ¥5,103 million and net sales increased 7.4% year on yearto ¥4,957 million. In the water treatment chemicals field, sales of various chemicals centered on theelectronics industry field performed steadily, while in the standard equipment and filters field, orders andsales increased mainly for small-scale pure water production equipment for medical institutions andresearch institutions, and in the food products field, mainly for various food additives.
■Operating profit
Operating profit increased 49.8% year on year to ¥540 million. Profit increased year on year as sales
expansion in the water treatment chemicals field, the standard equipment and filters field, and the foodproducts field absorbed the impact of the increase in raw materials prices and the increase in costs, suchas personnel expenses.
(2) Explanation regarding financial position
Assets, liabilities and net assets
AssetsAssets as of June 30, 2022 amounted to ¥129,665 million, a decrease of ¥841 million from the previous
fiscal year end. This was mainly due to a decline of ¥8,675 million in cash and deposits, despite anincrease of ¥4,223 million in work in process and an increase of ¥3,163 million in trade receivables andcontract assets.
Liabilities
Liabilities as of June 30, 2022 amounted to ¥52,844 million, a decrease of ¥1,657 million from theprevious fiscal year end. This was mainly due to a decline of ¥1,186 million in trade payables.
Net Assets
Net assets as of June 30, 2022 amounted to ¥76,821 million, an increase of ¥816 million from the previous
fiscal year end. This was mainly due to an increase of ¥482 million in retained earnings resulting fromthe recording of profit attributable to owners of parent and an increase of ¥357 million in foreign currencytranslation adjustment.
(3) Explanation regarding consolidated earnings forecasts and other forward-looking statements
In terms of the earnings forecasts, the first half and full year consolidated earnings forecasts for the fiscal
year ending March 31, 2023, released on May 12, 2022, remain unchanged.
For the time being, the situation remains steady overall, with regard to order trends for semiconductor
investment projects in Japan and overseas, mainly in the electronics industry field, and the outlook forsales due to progress on large-scale construction projects. For the three months ended June 30, 2022, thelevel of earnings has been slightly higher than initially expected, but going forward there are concerns
regarding risk factors such as the impact on customers’ investment and construction schedules due to thestatus of the spread of COVID-19 in each country, market conditions in the electronics industry, such as
semiconductors, and supply chain trends due to raw material shortages. The Company will revise its
forecasts appropriately according to the situation, based on each business segment and the trends in eachcountry and region.

- 3 -2. Quarterly consolidated financial statements and significant notes thereto(1) Consolidated balance sheet(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, andcontract assets
Electronically recorded monetary claims operating
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- 4 -As of June 30, 2022

20,198

11,522

52,92656,051

1,862

1,900

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

10,6895,555
10,958
1,616
3,694
(6)
101,982

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

18,919(12,840)
6,079
5,880
(5,160)719
12,262
1,116
5,451(4,656)795
20,973
1,034

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

2,027
682
2,443
991
(470)
5,674
27,682
129,665

(Millions of yen)
As of March 31, 2022
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- 5 -As of June 30, 2022

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

16,5896,594
10,947
1,160
2,279
648
259
35

123

162

3,559
43,072

3,559
42,237

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

4,800
76
5,565
164
10,606
52,8448,225
7,508
59,619(734)
74,6178,225
7,508
60,102(737)
75,098

434

390

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

0
932
214
1,538
184
76,821
129,665

(2) Consolidated statement of income and consolidated statement of comprehensive income
Consolidated statement of income (cumulative)

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
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Loss on sale of right to use facilities
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

Three months ended
June 30, 2021
(From April 1, 2021 toJune 30, 2021)
22,307
16,734
5,573
4,234
1,338

- 6 -

(Millions of yen)Three months ended
June 30, 2022
(From April 1, 2022 toJune 30, 2022)
27,83521,049
6,786
4,567
2,219

6
15
259

5
20
511

17

43

21
320

16
597

25
0
2
27
1,630

33
149
0
183
2,633

–
–

4
4

3
0
4
1,626
805
820
2
818

0
–
0
2,636
1,134
1,502
6
1,495

Consolidated statement of comprehensive income (cumulative)

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

Three months ended
June 30, 2021
(From April 1, 2021 toJune 30, 2021)
820

- 7 -

(Millions of yen)Three months ended
June 30, 2022
(From April 1, 2022 toJune 30, 2022)
1,502

6

(43)

–
400

0
365

16

6

(1)

(0)

421
1,242

328
1,831

1,232

1,815

10

15

(3) Notes to quarterly consolidated financial statements
Notes on premise of going concern
No items to report
Notes on substantial changes in the amount of shareholders’ equity
No items to report
Application of special accounting for preparing the quarterly consolidated financial statements
Calculation of tax expenses
The Company and some of its consolidated subsidiaries have reasonably estimated the effective tax rate
after the application of tax effect accounting to the profit before income taxes for the fiscal year including
the first quarter ended June 30, 2022, and tax expenses are calculated by multiplying profit before income
taxes by this estimated effective tax rate. However, in cases where the calculation of tax expenses using
such estimated effective tax rate yields a result that is not reasonable to a significant extent, the amountof significant difference other than temporary differences, etc. is added to or deducted from the profit
before income taxes, and the result is multiplied by the statutory income tax rate.
Additional information
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 implement a
share split and make partial amendments to the Articles of Incorporation in relation to the share split. The
resolution will take effect on October 1, 2022.
(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.
Three months ended June 30, 2021
Three months ended June 30, 2022
(From April 1, 2021 to June 30, 2021) (From April 1, 2022 to June 30, 2022)
Basic earnings per share¥17.83- 8 -¥32.64

(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, theCompany will amend the total number of authorized shares prescribed in Article 6 (Total Numberof 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)(4) Other
The amount of the Company’s share capital will not change as a result of the share split.
Impact arising due to the proliferation of COVID-19
There has been no material change in the assumptions regarding the impact of COVID-19 described in
the annual securities report (Additional information) (Impact arising due to the proliferation of COVID19) for the previous fiscal year.

- 9 -Segment information, etc.
[Segment information]
I Three months ended June 30, 2021 (From April 1, 2021 to June 30, 2021)
1. Information relating to net sales and profit by each reportable segment
Reportable Segment(Millions of yen)Amountrecorded in the
consolidated
statement ofincome(Note)

Water
Treatment
Engineering
Business Unit

Performance
Products
Business Unit

Net sales
Sales to external customers
Intersegment sales or transfers

17,691
0

4,616
87

22,30787–(87)

22,307–

Total

17,691

4,703

22,394(87)

22,307

Total

Adjustment

Segment profit
977
360
1,338
–
1,338
Note:
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.

II Three months ended June 30, 2022 (From April 1, 2022 to June 30, 2022)
1. Information relating to net sales and profit by each reportable segment
Reportable Segment(Millions of yen)Amountrecorded in the
consolidated
statement ofincome(Note)

Water
Treatment
Engineering
Business Unit

Performance
Products
Business Unit

Net sales
Sales to external customers
Intersegment sales or transfers

22,877
0

4,957
93

27,83593–(93)

27,835–

Total

22,877

5,051

27,929(93)

27,835

Total

Adjustment

Segment profit
1,679
540
2,219
–
2,219
Note:
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.

- 10 -