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.

August 9, 2023

Consolidated Financial Results for the Three Months Ended June 30, 2023
[Under Japanese GAAP]
Company name:
RIKEN KEIKI Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:7734
URL
https://www.rikenkeiki.co.jp/
Representative:
Tetsuya Matsumoto, President
Inquiries:
Takuro Maeda, General Manager, Accounting Department, Corporate Administration Division
Telephone:+81-3-3966-1128
Scheduled date to file quarterly securities report:
August 9, 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.
(1)

Consolidated Financial Results for the Three Months Ended June 30, 2023 (from April 1, 2023 to June 30, 2023)
Consolidated Operating Results (Cumulative)(% indicates year-on-year changes)
Net sales

Operating profit

Millions of Yen

Three months endedJune 30, 2023
June 30, 2022
Note: Comprehensive income%Three months ended
June 30, 2023
June 30, 2022

Millions of Yen%

Millions of Yen

3,560
(2.8)
3,664
75.6
3,387 million Yen [17.5%]
2,882 million Yen [42.9%]

2,533
2,581%(1.9)
76.0

Earnings per share- Diluted-

Yen

Yen

108.82110.91-

Consolidated Financial Position
Total assets

Net assets

Millions of Yen

As of June 30, 2023
As of March 31, 2023
Reference: Equity
2.

%

11,4906.8
3,058(10.8)
10,763
19.1
3,428
68.8
For the three months ended June 30, 2023
For the three months ended June 30, 2022

Earnings per share Basic-(2)Millions of Yen

Net profit attributable toowners of parent

Ordinary profit

Equity-to-asset ratio

Millions of Yen

Net assets per share%

81,642
65,846
79,746
63,383As of June 30, 2023
65,846 million Yen
As of March 31, 2023

Yen

80.7
2,828.05
79.5
2,722.26
63,383 million Yen

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, 202340.00
Fiscal year ending
March 31, 2024
Fiscal year ending
March 31, 2024
(Forecast)
40.00
Note: Revisions to the forecast of cash dividends most recently announced: NoneTotalYen

YenYen-

40.00

80.00

-

40.00

80.00

3.

Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (from April 1, 2023 to March 31, 2024)(% indicates year-on-year changes.)
Net sales
Millions of Yen

Operating profit%

Millions of Yen

Net profit attributableto owners of parent

Ordinary profit%

Millions of Yen

Six months ending
September 30, 202322,200(0.9)
5,350(16.5)
5,150
Full year
46,4003.1
11,6000.4
12,000Note: Revision to the forecast of the financial results most recently announced: None

Earnings pershare%

Millions of Yen%

Yen(22.4)

3,600(20.8)

154.62

0.5

8,700

0.3

373.66* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in change in scope ofconsolidation): None
Newly included:- companies (Company name)
Excluded:- companies (Company name)(2)

Adoption of accounting process specific to the preparation of quarterly consolidated financial statements: None

(3)

Changes in accounting policies, changes in accounting estimates, and restatement(i)
Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: Yes(iii) Changes in accounting estimates: None(iv) Restatement: None(4)

Number of issued shares (common shares)(i)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2023
23,661,000 shares
As of March 31, 2023
23,661,000 shares(ii) Number of treasury shares at the end of the period
As of June 30, 2023
377,598 shares
As of March 31, 2023
377,565 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2023
23,283,427 shares
Three months ended June 30, 2022
23,276,319 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 theirachievement of them. Actual financial results may differ significantly from the forecasts due to various factors. For assumptions
underlying the financial results forecasts and cautions concerning the use thereof, please refer to “(3) Explanation ofConsolidated Financial Results Forecasts and Other Forward-Looking Information” in “1. Qualitative Information on Financial
Results for the First Three Months of the Current Fiscal Year” on page 3 of the attachment.

○ Table of Contents of Attachment
1.

2.

Qualitative Information on Financial Results for the First Three Months of the Current Fiscal Year ................................. 2(1)

Explanation of Operating Results .............................................................................................................................. 2(2)Explanation of Financial Position .............................................................................................................................. 2(3)

Explanation of Consolidated Financial Results Forecasts and Other Forward-Looking Information ........................ 2

Quarterly Consolidated Financial Statements and Significant Notes Thereto ..................................................................... 3(1)

Quarterly Consolidated Balance Sheet ...................................................................................................................... 3(2)Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income .... 5
Quarterly Consolidated Statement of Income ............................................................................................................ 5First three months............................................................................................................................................... 5
Quarterly Consolidated Statement of Comprehensive Income .................................................................................. 6First three months............................................................................................................................................... 6(3)Notes to Quarterly Consolidated Financial Statements .............................................................................................. 7(Notes on Going Concern Assumptions) ................................................................................................................... 7(Notes When There is Significant Changes in Amounts of Shareholders’ Equity) .................................................... 7(Changes in Accounting Policies).............................................................................................................................. 7-1-1.

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

(1) Explanation of Operating Results
In the first three months of the fiscal year under review, the Japanese economy recovered moderately as the impact of COVID19 weakened further after it was reclassified into Category 5 infectious disease.
On the other hand, the economic outlook remains uncertain due to the protracted situation in Russia and Ukraine, sharp
fluctuations in foreign exchange rates, and rising prices for raw materials and energy.
In the industrial disaster prevention and safety device industry to which the Group belongs, capital investment by our main
customers, such as the semiconductor industry, remained at a certain level. However, sufficient caution is necessary regarding
the impact of a supply shortage of components, rising inflation, and other factors, and the outlook will remain uncertain.
Under these circumstances, the Group has continued to reduce costs by streamlining production, thoroughly cut expenses,
developing aggressive sales activities, aggressively investing in new product development, and enhancing its quality controland service systems.
As a result of these measures, net sales for the first three months of the fiscal year under review were 11,490 million Yen (up6.8% year-on-year), operating profit was 3,058 million Yen (down 10.8% year-on-year), ordinary profit came to 3,560 million
Yen (down 2.8% year-on-year), and net profit attributable to owners of parent was 2,533 million Yen (down 1.9% year-onyear).
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 three months of the fiscal year under review were 7,714 million
Yen (up 6.1% year-on-year).
(ii) Portable gas detection alarm devices
Net sales of portable gas detection alarm devices for the first three months of the fiscal year under review were 3,511
million Yen (up 8.8% year-on-year).
(iii) Other measurement devicesNet sales of other measurement devices for the first three months of the fiscal year under review were 265 million Yen (up0.7% year-on-year).

(2) Explanation of Financial Position
At the end of the first quarter of the fiscal year under review, assets totaled 81,642 million Yen, an increase of 1,895 million
Yen (up 2.4%) compared with the end of the previous fiscal year. Current assets increased 958 million Yen from the end of theprevious fiscal year to 52,259 million Yen. This was mainly due to a 1,395 million Yen increase in raw materials and supplies,
a 672 million Yen increase in notes and accounts receivable–trade and a 580 million Yen increase in securities, despite a 1,785
million Yen decrease in cash and deposits. Non-current assets increased 936 million Yen from the end of the previous fiscal
year to 29,382 million Yen. This was mainly due to a 1,138 million Yen increase in investment securities.
At the end of the first quarter of the fiscal year under review, liabilities totaled 15,795 million Yen, a decrease of 567 million
Yen (down 3.5%) compared with the end of the previous fiscal year. Current liabilities fell 967 million Yen from the end of theprevious fiscal year to 13,056 million Yen. This was mainly due to a 774 million Yen decrease in income taxes payable, a 689
million Yen decrease in notes and accounts payable–trade, a 456 million Yen decrease in provision for bonuses, despite a 846
million Yen increase in accrued expenses included in current liabilities and other. Non-current liabilities grew 399 million Yen
from the end of the previous fiscal year to 2,739 million Yen. This was mainly due to a 490 million Yen increase in deferred tax
liabilities included in non-current liabilities and other.
At the end of the first quarter of the fiscal year under review, net assets totaled 65,846 million Yen, an increase of 2,463 million
Yen (up 3.9%) compared with the end of the previous fiscal year. This was mainly due to a 1,602 million Yen increase inretained earnings as a result of recording 2,533 million Yen in net profit attributable to owners of parent and dividend paymentsof 931 million Yen.

(3) Explanation of Consolidated Financial Results Forecasts and Other Forward-Looking Information
There is no change to the financial results forecasts for the first six months ending September 30, 2023 and the fiscal year
ending March 31, 2024 that were stated in the Consolidated Financial Results for the Fiscal Year Ended March 31, 2023,
released on May 11, 2023.

-2-2.

Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly Consolidated Balance Sheet(Unit: Thousand Yen)

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
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Customer-related assets
Other
Total intangible assets
Investments and other assets
Investment securities
Retirement benefit assets
Other
Allowance for doubtful accountsTotal investments and other assets
Total non-current assets
Total assets

As of the end of the previous
fiscal year
(March 31, 2023)-3-

As of the end of the first quarterof the fiscal year under review(June 30, 2023)

13,605,281
10,439,153
3,713,877
8,414,092
3,584,070
6,039,294
4,532,924
976,706(4,346)51,301,053

11,819,946
11,111,392
3,853,838
8,994,747
3,355,778
6,135,150
5,928,358
1,064,889(4,266)52,259,835

10,826,073
361,360
4,150,454
409,421
1,590,552
17,337,862

10,690,928
393,490
4,133,581
447,485
1,578,048
17,243,534

510,481805,777
451,525
1,767,784

470,273
777,429459,531
1,707,233

6,033,462
1,827,197
1,482,284(2,900)9,340,044
28,445,691
79,746,745

7,171,572
1,849,997
1,412,940(2,900)10,431,609
29,382,378
81,642,213

(Unit: Thousand Yen)

Liabilities
Current liabilities
Notes and accounts payable–trade
Electronically recorded obligations–operating
Short-term borrowings
Income taxes payable
Provision for bonuses
Provision for product warrantiesProvision for loss on orders received
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustments
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

As of the end of the previousfiscal year
(March 31, 2023)-4-

As of the end of the first quarterof the fiscal year under review(June 30, 2023)

5,201,320
847,302
995,000
1,816,425
988,058
106,260
152,2033,917,125
14,023,696

4,512,153
1,033,340
1,235,000
1,041,909
531,231101,084
17,7704,583,997
13,056,488

850,580
11,172
1,477,661
2,339,414
16,363,110

763,520
11,172
1,964,359
2,739,051
15,795,540

2,565,500
1,094,969
56,626,968(222,609)
60,064,829

2,565,500
1,101,568
58,229,280(222,768)
61,673,5801,982,144
1,336,660
3,318,805
63,383,634
79,746,745

2,697,951
1,475,141
4,173,093
65,846,673
81,642,213

(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement ofComprehensive Income
Quarterly Consolidated Statement of Income
First three months

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
Loss on sale of securities
Loss on valuation of securities
Miscellaneous losses
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes–current
Income taxes–deferred
Total income taxes
Net profit
Net profit attributable to non-controlling interests
Net profit attributable to owners of parent(Unit: Thousand Yen)First three months of the previous First three months of the fiscal
fiscal year (from April 1, 2022 to year under review (from April 1,June 30, 2022)
2023 to June 30, 2023)
10,763,292
11,490,772
4,697,496
5,557,851
6,065,796
5,932,920
2,637,257
2,874,736
3,428,538
3,058,184-5-

13,90558,477232,105261
19,13318,928342,811

21,10968,485
322,744
21,94280,531
16,583531,396

11,1330
2,614
86,6396,272
106,6593,664,690

10,018918,79324
28,8453,560,735

2,554
2,554

5,550
5,550

1,141
1,141
3,666,103
986,284
93,302
1,079,586
2,586,517
4,911
2,581,605

5,655
5,655
3,560,631
873,360
153,622
1,026,982
2,533,648
2,533,648

Quarterly Consolidated Statement of Comprehensive Income
First three months

ProfitOher comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustments
Total other comprehensive income
Comprehensive income(attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests(Unit: Thousand Yen)First three months of the previous
fiscal year
(From April 1, 2022 to June 30,2022)
2,586,517

First three months of the fiscal
year under review(From April 1, 2023 to June 30,2023)
2,533,648(143,167)
439,615
296,447
2,882,964

715,807
138,480
854,287
3,387,936

2,834,631
48,333

3,387,936--6-(3) Notes to Quarterly Consolidated Financial Statements(Notes on Going Concern Assumptions)Not applicable.

(Notes When There is Significant Changes in Amounts of Shareholders’ Equity)
Not applicable.

(Changes in Accounting Policies)(Changes in the Method of Translation of Revenues and Expenses of Subsidiaries outside of Japan)
Revenues and expenses of consolidated subsidiaries outside of Japan had previously been translated into Japanese Yen at
the spot exchange rates in effect at the balance sheet date of these companies. However, the Company changed to amethod of translating them into Japanese Yen at an average exchange rate for the period, starting from the first quarter ofthe fiscal year under review.
This change was made in order to lessen the impact of temporary foreign exchange fluctuations on our period profits as
the revenues and expenses of the subsidiaries had grown in importance and to more aptly reflect their revenues andexpenses occurring throughout each accounting period on our consolidated financial statements.
The impact of this change was negligible.

-7-