Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

February 10, 2023

Consolidated Financial Results for the Nine Months Ended December 31, 2022
[Under Japanese GAAP]
Company name:
RIKEN KEIKI Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
7734
URL:
http://www.rikenkeiki.co.jp/
Representative:
Junichi Koyano, President
Inquiries:
Takuro Maeda, General Manager, Accounting Department, Corporate Administration Division
Telephone:+81-3-3966-1128
Scheduled date to file quarterly securities report:
February 10, 2023
Scheduled date to commence dividend payments:
Preparation of supplementary materials on quarterly financial results:
None
Holding of quarterly financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)1.

Consolidated Financial Results for the Nine Months Ended December 31, 2022 (from April 1, 2022 to December
31, 2022)(1) Consolidated Operating Results (Cumulative)
Net sales(% indicate year-on-year changes.)
Net profit attributable toOrdinary profit
owners of parent

Operating profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

Nine months ended
December 31, 2022
34,76824.6
10,45755.8
10,32450.1
December 31, 2021
27,909
19.4
6,710
55.6
6,876
55.9
Note: Comprehensive income
For the nine months ended December 31, 2022:¥8,406 million
For the nine months ended December 31, 2021:¥5,745 million
Earnings per share-BasicNine months ended
December 31, 2022
December 31, 2021

%

7,119
4,827
[46.3%][66.9%]

47.5
57.5

Earnings per share- Diluted-Yen

Yen

305.79207.42-(2) Consolidated Financial Position
Total assets

Net assets

Millions of yen

As ofDecember 31, 2022
March 31, 2022
Reference: Equity

2.

Equity-to-asset ratio

Millions of yen

77,59571,606
As of December 31, 2022
As of March 31, 2022

62,00556,858¥62,005 million¥56,160 million

Net assets per share
%Yen

79.9
78.4

2,663.08
2,412.75

Cash Dividends
First quarter-end
Yen

Annual dividends per share
Second quarter-end Third quarter-end
Fiscal year-end
Yen

Fiscal year ended
March 31, 2022
21.00
Fiscal year ending
March 31, 2023
40.00
Fiscal year ending
March 31, 2023(Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: NoneTotalYen

YenYen-

39.00

60.00

40.00

80.00

-

3.

Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (from April 1, 2022 toMarch 31, 2023)

Net sales
Millions of yen

Operating profit%

Millions of yen(% indicate year-on-year changes.)
Net profit
Earnings perattributable toshareowners of parent

Ordinary profit%

Millions of yen%

Yen

Full year
42,800 14.5
11,450 36.3
12,00036.1
Note: Revision to the forecast of the financial results most recently announced: None%

Millions of yen

8,400

40.8

360.80*Notes(1)

Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope ofconsolidation): None
Newly
- companies (Company name)included:
Excluded:- companies (Company name)
Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None

(2)
(3)

(4)

Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2022
23,661,000 shares
As of March 31, 2022
23,661,000 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2022377,565 shares
As of March 31, 2022
384,642 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2022
23,280,598 shares
Nine months ended December 31, 2021
23,271,742 shares*

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
The forward-looking statements such as financial results forecasts contained in this document are based on information
currently available to the Company and certain assumptions deemed to be reasonable, and the Company does not guarantee
their achievement of them. Actual financial results may differ significantly from the forecasts due to various factors. For theassumptions underlying the financial results forecasts and cautions concerning the use thereof, please refer to “(3) Explanationof Consolidated Financial Results Forecasts and Other Forward-Looking Information” in “1. Qualitative Information on
Financial Results for the First Nine Months of the Current Fiscal Year” on page 3 of the attachment.

○○ Table of Contents of Attachment

1.

Qualitative Information on Financial Results for the First Nine Months of the Current Fiscal Year ................ 4(1) Explanation of Operating Results ................................................................................................................ 4(2) Explanation of Financial Position ................................................................................................................ 4(3) Explanation of Consolidated Financial Results Forecasts and Other Forward-Looking Information.......... 52.

Quarterly Consolidated Financial Statements and Significant Notes Thereto ................................................... 6(1) Quarterly Consolidated Balance Sheet ......................................................................................................... 6(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive
Income .......................................................................................................................................................... 8Quarterly Consolidated Statement of Income .............................................................................................. 8First nine months .................................................................................................................................. 8Quarterly Consolidated Statement of Comprehensive Income .................................................................... 9First nine months .................................................................................................................................. 9(3) Notes to Quarterly Consolidated Financial Statements .............................................................................. 10(Notes on Going Concern Assumptions) .................................................................................................... 10(Change in Scope of Consolidation or Adoption of the Equity Method) ................................................... 10(Notes on Substantial Changes in the Amount of Shareholders’ Equity) ................................................... 10(Changes in Accounting Policies) .............................................................................................................. 101.

Qualitative Information on Financial Results for the First Nine Months of the Current Fiscal Year

(1) Explanation of Operating Results
In the first nine months of the fiscal year under review, the Japanese economy showed signs of recovery following the easing of
the government’s restrictions on activities imposed due to the spread of COVID-19. However, the outlook remains uncertain dueto global inflation, concerns over foreign exchange rates such as the weak yen, and soaring resource prices caused by the situation
with Russia and Ukraine.
In the industrial disaster prevention and safety device industry to which the Group belongs, capital investment in thesemiconductor industry in East Asia (mainly Japan, China and Taiwan), our main customer, as well as the lithium-ion battery
industry in China and the EU region, remained steady. However, sufficient caution is necessary regarding the impact of a supply
shortage of components, such as semiconductors, soaring resource prices, and other factors, and the outlook will remain uncertain.
Under these circumstances, in addition to taking measures to prevent COVID-19, the Group has continued to reduce costs bystreamlining production, thoroughly cut expenses, developed sales activities online, aggressively invested in new productdevelopment, and enhanced its quality control and service systems.
As a result of these measures, net sales for the first nine months of the fiscal year under review were 34,768 million yen (up24.6% year-on-year), operating profit was 10,457 million yen (up 55.8% year-on-year), ordinary profit came to 10,324 million
yen (up 50.1% year-on-year), and net profit attributable to owners of parent was 7,119 million yen (up 47.5% year-on-year).
As the Group engages in a single segment of the manufacture and sale of various types of industrial measurement devices andtheir related businesses, in place of the operating results by segment, sales by device type are described below.
(i)Fixed gas detection alarm devices
Net sales of fixed gas detection alarm devices for the first nine months of the fiscal year under review were 23,825
million yen (up 22.2% year-on-year).
(ii) Portable gas detection alarm devices
Net sales of portable gas detection alarm devices for the first nine months of the fiscal year under review were 10,036
million yen (up 32.9% year-on-year).
(iii) Other measurement devices
Net sales of other measurement devices for the first nine months of the fiscal year under review were 907 million yen(up 5.0% year-on-year).

(2) Explanation of Financial Position
At the end of the third quarter of the fiscal year under review, assets totaled 77,595 million yen, an increase of 5,989 million yen(up 8.4%) compared with the end of the previous fiscal year. Current assets increased 6,280 million yen from the end of theprevious fiscal year to 49,532 million yen. This was mainly due to a 3,475 million yen increase in notes and accounts receivable–
trade, a 1,853 million yen increase in work in process, a 1,542 million yen increase in raw materials and supplies, and a 1,208
million yen increase in cash and deposits, despite a 2,257 million yen decrease in securities. Non-current assets fell 290 million
yen from the end of the previous fiscal year to 28,063 million yen. This was mainly due to a 338 million yen decrease in buildings
and structures, net, despite a 124 million yen increase in land.
At the end of the third quarter of the fiscal year under review, liabilities totaled 15,590 million yen, an increase of 842 million
yen (up 5.7%) compared with the end of the previous fiscal year. Current liabilities increased 889 million yen from the end of
the previous fiscal year to 13,020 million yen. This was mainly due to a 2,065 million yen increase in notes and accounts payable–trade, a 533 million yen decrease in income taxes payable and a 407 million yen decrease in provision for bonuses. Non-current
liabilities fell 46 million yen from the end of the previous fiscal year to 2,569 million yen.
At the end of the third quarter of the fiscal year under review, net assets totaled 62,005 million yen, an increase of 5,146 million
yen (up 9.1%) compared with the end of the previous fiscal year. This was mainly due to a 5,471 million yen increase in retained
earnings as a result of recording 7,119 million yen in net profit attributable to owners of parent and dividend payment of 1,839
million yen, which offset a 796 million yen decrease in capital surplus and a 698 million yen decrease in non-controlling interests
as a result of the acquisition of additional shares of a subsidiary of RKI Instruments, Inc., a consolidated subsidiary in the UnitedStates.

(3) Explanation of Consolidated Financial Results Forecasts and Other Forward-Looking Information
There is no change to the full-year financial results forecasts stated in the Consolidated Financial Results for the Six Months
Ended September 30, 2022, released on November 10, 2022.

2.

Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly Consolidated Balance Sheet(Unit: Thousand yen)
As of the end of theprevious fiscal year
(March 31, 2022)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable–trade
Electronically recorded monetary claims-operating
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, netMachinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment

As of the end of the thirdquarter of the fiscal year
under review(December 31, 2022)

11,551,206
9,198,690
3,519,418
9,952,268
2,744,435
3,307,349
2,391,516
591,190(3,697)

12,759,650
12,674,635
3,788,040
7,694,938
2,776,976
5,161,101
3,934,506
746,448(3,869)43,252,378

49,532,428

11,317,187
358,475
4,079,123
46,4351,639,162

10,979,132
375,972
4,203,463
222,879
1,447,925

17,440,385

17,229,373

Intangible assets
Goodwill
Customer-related assets
Other595,387
830,848436,567

597,520888,746
372,445

Total intangible assets

1,862,803

1,858,712

5,881,220
1,813,344
1,359,851(3,500)5,680,441
1,878,808
1,419,581(3,500)Investments and other assets
Investment securities
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

9,050,916

8,975,331

28,354,106

28,063,418

71,606,484

77,595,846

(Unit: Thousand yen)
As of the end of theprevious fiscal year
(March 31, 2022)
Liabilities
Current liabilities
Notes and accounts payable–trade
Short-term borrowings
Current portion of bonds payable
Income taxes payable
Provision for bonuses
Provision for product warranties
Provision for loss on orders received
Other

As of the end of the third
quarter of the fiscal year
under review(December 31, 2022)

4,625,929
995,000
300,000
1,786,207
920,836
98,23932,0083,372,969

6,691,087
1,215,000
1,253,014
512,998
98,45538,5993,211,277

Total current liabilities

12,131,190

13,020,432

Non-current liabilities
Long-term borrowings
Asset retirement obligations
Other

850,580
11,133
1,754,861

594,400
11,133
1,964,251

2,616,574

2,569,785

Total liabilities

Total non-current liabilities

14,747,765

15,590,217

Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares

2,565,500
1,885,187
49,604,449(226,384)

2,565,500
1,088,370
55,075,783(222,609)

53,828,752

58,507,045

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment

Total shareholders’ equity

1,853,706
477,683

1,641,986
1,856,596

Total accumulated other comprehensive income

2,331,389

3,498,583

Non-controlling interests
Total net assets
Total liabilities and net assets

698,577-56,858,719

62,005,628

71,606,484

77,595,846

(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement ofComprehensive Income
Quarterly Consolidated Statement of Income
First nine months(Unit: Thousand yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Insurance claim and dividend income
Gain on sale of securities
Gain on valuation of securities
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of non-current assets
Foreign exchange loss
Compensation expenses
Loss on sale of securities
Loss on valuation of securities
Miscellaneous losses
Total non-operating expensesOrdinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Impairment losses
Loss on disposal of non-current assets
Loss on valuation of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes–current
Income taxes–deferred
Total income taxes
Net profit
Net profit (loss) attributable to non-controlling interests
Net profit attributable to owners of parent

First nine months of theprevious fiscal year(From April 1, 2021 toDecember 31, 2021)

First nine months of thefiscal year under review(From April 1, 2022 toDecember 31, 2022)

27,909,322
13,991,487
13,917,835
7,207,063
6,710,772

34,768,490
15,906,351
18,862,138
8,404,820
10,457,318

33,15699,25750,698
9,381
115
3,496
54,268250,373

58,692
109,574
8,237
19,13361,159256,797

35,636
4,892
40,591
3,554
84,674
6,876,471

31,535589
8,392
18,467323,114
7,780
389,880
10,324,235

386
386

2,559
2,559

262
262
6,876,595
1,827,101
152,616
1,979,718
4,896,877
69,842
4,827,034

1,141
26,160102,000
79,528208,830
10,117,963
2,570,993
434,800
3,005,794
7,112,169(6,840)7,119,009

Quarterly Consolidated Statement of Comprehensive Income
First nine months(Unit: Thousand yen)First nine months of theprevious fiscal year
(From April 1, 2021 toDecember 31, 2021)

First nine months of thefiscal year under review(From April 1, 2022 toDecember 31, 2022)

4,896,877

7,112,169

336,853
511,466(211,719)
1,506,476

848,320

1,294,757

Comprehensive income

5,745,197

8,406,926(attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

5,577,671
167,526

8,286,203
120,723

Net profit
Oher comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income

(3) Notes to Quarterly Consolidated Financial Statements(Notes on Going Concern Assumptions)Not applicable.

(Change in Scope of Consolidation or Adoption of the Equity Method)(Material Changes in the Scope of Consolidation)
RIKEN KEIKI GmbH is included in the scope of consolidation due to its increased importance from the first quarter ofthe fiscal year under review.

(Notes on Substantial Changes in the Amount of Shareholders’ Equity)
During the second quarter of the fiscal year under review, capital surplus decreased by 796,816 thousand yen due to theacquisition of additional shares of RKI Instruments, Inc., a consolidated subsidiary of the Company, from non-controllingshareholders.
As a result, capital surplus was 1,088,370 thousand yen at the end of the third quarter of the fiscal year under review.

(Changes in Accounting Policies)(Adoption of the Implementation Guidance on Accounting Standard for Fair Value Measurement)
The Company has adopted the “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ
Guidance No. 31, June 17, 2021; hereinafter referred to as the “Implementation Guidance on Fair Value Measurement
Accounting Standard”) from the beginning of the first quarter of the fiscal year under review, adopting the new accounting
policies defined in the Implementation Guidance on Fair Value Measurement Accounting Standard over the future,according to the transitional treatment specified in Paragraph 27-2 of the Implementation Guidance on Fair Value
Measurement Accounting Standard. This has no impact on the quarterly consolidated financial statements.