Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Non-Consolidated Financial Results
for the Year Ended March 31, 2023
(Based on Japanese GAAP)
April 28, 2023
Company name:Takakita Co., Ltd.

Stock exchange listing: Tokyo, Nagoya
Stock code:
6325
URL

https://www.takakita-net.co.jp

Representative:

Representative Director and President
Assistant General Manager,Accounting

Mitsuo MatsumotoInquiries:

Department,Corporate Administration
Division

Kazushi Kawabe

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

June 22, 2023
June 22, 2023

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:

June 23, 2023
Yes

Holding of financial results meeting:

Yes

TEL

0595-63-3111(for institutional investors)(Amounts less than one million yen are rounded down)

1. Non-consolidated financial results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(1) Non-consolidated operating results
Percentages indicate year-on-year changes
Net salesYear ended March 31, 2023
Year ended March 31, 2022

Millions of yen
7,730
7,026

Operating profit
%
10.0
8.0

Millions of yen
609
529

Diluted earnings pershare
Yen
Yen
42.34
41.88
34.75
34.43

Earnings per share
Year ended March 31, 2023
Year ended March 31, 2022

Ordinary profit
%
15.0
32.5

Millions of yen
673
593

Profit/equity

Profit%13.5
30.3

Millions of yen
476
400%
19.0
24.0

Ordinary profit/total Operating profit/net
assetssales%%%
6.9
7.6
7.9
6.0
7.1
7.5

(2) Non-consolidated financial position
Total assets
As of March 31, 2023
As of March 31, 2022

Net assets

Equity ratio

Millions of yen
9,113
8,647

Millions of yen
7,052
6,899

Cash flows fromoperating activities
Millions of yen
(15)
702

Cash flows frominvesting activities
Millions of yen
(85)
(200)

Net assets per share%
76.7
79.2

Yen
630.46595.88(3) Non-consolidated cash flows

Year ended March 31, 2023
Year ended March 31, 2022

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen
(325)
778
(158)
1,204

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2022
Year ended March 31, 2023
Year ending March 31, 2024
(Forecast)

Total

Total cash
dividends (Total)

Dividend payout
ratio (Nonconsolidated)

Ratio of dividends
to net assets (Nonconsolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%%

––

5.00
5.00

––

5.00
8.00

10.00
13.00

114
144

28.8
30.71.7
2.1–

5.00

–

5.00

10.00

125.8

3. Forecast of non-consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Net sales
Millions of yen
Six months ending
September 30, 2023
Full year

Operating profit% Millions of yen

Ordinary profit% Millions of yen

Profit% Millions of yen

Earnings per share%Yen

4,500

17.5

450

16.5

475

14.7

320

14.6

28.84

8,000

3.5

600

(1.5)

650(3.5)430(9.7)

38.76

4. Notes(1) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(2) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023

14,000,000 shares As of March 31, 2022

14,000,000 shares

Number of treasury shares at the end of the period
As of March 31, 2023

2,906,217 shares As of March 31, 2022

2,506,217 shares

11,247,629 shares Year ended March 31, 2022

11,516,480 shares

Average number of shares during the period
Year ended March 31, 2023

2

Non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of March 31, 2022

As of March 31, 2023

AssetsCurrent assets
Cash and deposits
Notes receivable - trade

1,204,439
110,987

778,284
77,025

Electronically recorded monetary claims - operating
Accounts receivable - trade

1,137,763
996,795

1,467,208
1,383,642

Merchandise and finished goods
Work in process

781,851
139,389

809,477
184,583

Raw materials and supplies
Prepaid expenses

321,661
11,812

417,600
11,393

Accounts receivable - other
Advance payments to suppliers

365,8482,709

519,156
12,6801,371

917

5,074,629

5,661,969

OtherTotal current assets
Non-current assets
Property, plant and equipment
Buildings

1,998,404

2,002,792

Accumulated depreciation(987,793)(1,046,271)

Buildings, net

1,010,610

956,520354,505

366,776(269,594)(284,954)

84,91081,821

Structures
Accumulated depreciation
Structures, net
Machinery and equipment
Accumulated depreciation
Machinery and equipment, net
VehiclesAccumulated depreciation
Vehicles, net

2,396,030

2,412,270(2,096,247)(2,173,329)

299,783

238,940

90,264

88,849(86,860)(85,669)

3,403

3,179

Tools, furniture and fixtures

758,230

780,077

Accumulated depreciation(702,437)(740,355)

55,792

39,722Land

Tools, furniture and fixtures, net

559,638

559,638

Leased assets
Accumulated depreciation36,357(6,782)

72,567(17,822)

29,57454,744–

1,878

2,043,713

1,936,444

Software
Software in progress

209,475–

164,915
11,844

Total intangible assets

209,475

176,759

Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets3

(Thousands of yen)
As of March 31, 2022

As of March 31, 2023

Investments and other assets
Investment securities
Investments in capital

956,7917,260

929,979
7,260

Investments in capital of subsidiaries and associates
Long-term prepaid expenses

152,512
10,038

152,5127,498

Guarantee deposits
Leasehold deposits

1,042
5,340

1,057
5,208

Investment property
Other

175,180
12,202

175,180
60,449Allowance for doubtful accounts

(666)

(555)

Total investments and other assets

1,319,702

1,338,592

3,572,891

3,451,796

8,647,520

9,113,766

Total non-current assets
Total assets4

(Thousands of yen)
As of March 31, 2022

As of March 31, 2023

Liabilities
Current liabilities
Notes payable - trade

5,264

6,372

Electronically recorded obligations - operating
Accounts payable - trade502,242354,762

721,135
382,257

Short-term borrowings
Accounts payable - other

70,00054,71270,00054,425

Accrued expenses
Income taxes payable

162,286
151,283

176,730
115,550

Accrued consumption taxes
Contract liabilities

13,86538,21853,234102,145

Deposits received
Provision for bonuses

9,229
113,945

9,778
128,716

Notes payable - facilities
Electronically recorded obligations-facilities–
24,337

1,052
15,958

Lease liabilities

6,882

13,6081,507,029

1,850,968

Long-term guarantee deposits
Lease liabilities

11,08822,691

11,08841,135Provision for retirement benefits
Provision for retirement benefits for directors (and other175,923

129,387

4,100

4,100

27,062

24,546

Total current liabilities
Non-current liabilities

officers)
Deferred tax liabilities
Total non-current liabilities
Total liabilities

240,866

210,258

1,747,896

2,061,226

1,350,000

1,350,000

825,877

825,877

Net assets
Shareholders' equity
Share capital
Capital surplus
Legal capital surplus
Other capital surplus

6,319

6,319

Total capital surplus

832,196

832,196

204,500

204,500

4,200,000
490,3884,500,000
553,673

Retained earnings
Legal retained earnings
Other retained earnings
General reserve
Retained earnings brought forward

4,894,888

5,258,173

Treasury shares

Total retained earnings(649,492)(850,692)

Total shareholders' equity

6,427,592

6,589,677

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

420,717625

404,333
164

Total valuation and translation adjustments

421,342

404,497

50,68958,364

6,899,624

7,052,539

8,647,520

9,113,766

Valuation and translation adjustments

Share acquisition rightsTotal net assets
Total liabilities and net assets

5Non-consolidated statements of income(Thousands of yen)

Net sales
Net sales of finished goods

Fiscal year ended

Fiscal year ended

March 31, 2022

March 31, 2023

6,584,508

7,315,050

441,565

415,722

7,026,073

7,730,772

33,443631,868

46,582735,268

Cost of purchased goods
Cost of products manufactured

395,628
4,531,670

350,975
5,019,105

Total

5,592,610

6,151,932

Ending merchandise inventory
Ending finished goods inventory

46,582735,268

45,570763,906

Transfer to other accountTransfer from other account

3,693
21,8303,784
18,860Net sales of goods
Total net sales
Cost of sales
Beginning merchandise inventory
Beginning finished goods inventory

4,828,896

5,357,531

Gross profit

Total cost of sales

2,197,177

2,373,240

Selling, general and administrative expenses

1,667,410

1,764,186

529,766

609,054

4

4

Dividend income
Rental income from real estate

38,604
23,38535,89323,252

Insurance claim income
Miscellaneous income

452
7,907

43
8,621

–

1,455

70,354

69,271

245
62

228
67

4,198
2,0004,394–

287

308

Operating profit
Non-operating income
Interest income

Other
Total non-operating income
Non-operating expenses
Interest expenses
Donations
Rental costs on real estate
Loss on cancellation of leases
OtherTotal non-operating expenses

6,793

4,998

593,327

673,327

Gain on sale of non-current assets

542

649

Total extraordinary income

542

649

142
2,502

40–

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on abandonment of non-current assets
Impairment losses
Loss on sale of investment securities

–211

2,644

252

Profit before income taxes

591,225

673,725

Income taxes - current
Income taxes - deferred

177,608
13,475

190,196
7,306

Total income taxes

191,083

197,502

Profit400,142

476,223

Total extraordinary losses

6Non-consolidated statements of changes in equity
Fiscal year ended March 31, 2022
(Thousands of yen)
Shareholders' equity
Capital surplus

Retained earnings

Other capitalsurplus

Sharecapital

Legalcapitalsurplus1,350,000

825,877

Other retained earnings

Profit fromDispositionof Treasury
SharesTotal capitalsurplusLegalretainedearnings

4,155

830,032

204,500

Total

Total
retainedearnings

Treasurysharesshareholders'(612,725)

6,177,291

Generalreserve

Retainedearnings
brought
forward4,000,000

405,484

4,609,984

(25)

(25)

4,000,000

405,459

4,609,959

200,000(200,000)––

Dividends ofsurplus(115,212)(115,212)(115,212)

Profit400,142400,142400,142

Balance at beginningof period
Cumulative effects
of changes inaccounting
policies
Restated balance

1,350,000

825,877

4,155

830,032

204,500

equity(25)(612,725)

6,177,266

Changes during
periodProvision ofgeneral reserve

Purchase oftreasury shares
Exercise of shareacquisition rights

2,164

2,164(39,267)(39,267)

2,500

4,664

Net changes in
items other thanshareholders'equityTotal changes during
periodBalance at end ofperiod

–

–

2,164

2,164

–

200,000

84,929284,929(36,767)

250,326

1,350,000

825,877

6,319

832,196

204,500

4,200,000

490,3884,894,888(649,492)

6,427,592

7

Valuation and translation adjustments

Balance at beginningof period

Valuationdifference on
available-forsale securities

Deferred
gains orlosses onhedgesTotalvaluation andtranslationadjustments

ShareacquisitionrightsTotal net
assets409,173129

409,303

44,981

6,631,575

Cumulative effects
of changes inaccounting
policies
Restated balance(25)

409,173129

409,303

44,981

6,631,550

Changes during
periodProvision ofgeneral reserve–Dividends ofsurplus(115,212)

Profit400,142

Purchase oftreasury shares(39,267)

Exercise of shareacquisition rights(4,654)10

Net changes in
items other thanshareholders'equity11,543495

12,03910,362

22,401

Total changes during
period11,543495

12,0395,708

268,073

Balance at end of
period420,717625

421,342

50,6896,899,624

8

Fiscal year ended March 31, 2023
(Thousands of yen)
Shareholders' equity
Capital surplus

Retained earnings

Other capitalsurplus

Sharecapital

Legalcapitalsurplus1,350,000

825,877

Other retained earnings

Profit from
Dispositionof Treasury
SharesTotal capitalsurplusLegalretainedearnings

6,319

832,196

204,500

Total

Total
retainedearnings

Treasurysharesshareholders'(649,492)

6,427,592

Generalreserve

Retainedearnings
brought
forward4,200,000

490,3884,894,888

300,000(300,000)––

Dividends ofsurplus(112,937)(112,937)(112,937)

Profit476,223476,223476,223

Balance at beginningof period

equityChanges during
periodProvision ofgeneral reserve

Purchase oftreasury shares(201,200)

Exercise of shareacquisition rights(201,200)–

Net changes in
items other thanshareholders'equityTotal changes during
periodBalance at end ofperiod

–

–

–

–

–

300,000

63,285363,285(201,200)

162,085

1,350,000

825,877

6,319

832,196

204,500

4,500,000

553,673

5,258,173(850,692)

6,589,677

Valuation and translation adjustmentsBalance at beginningof period

Valuationdifference on
available-forsale securities

Deferred
gains orlosses onhedgesTotalvaluation andtranslation
adjustments

ShareacquisitionrightsTotal net
assets420,717625

421,342

50,6896,899,624

Changes during
periodProvision ofgeneral reserve–

Dividends ofsurplus(112,937)

Profit476,223

Purchase oftreasury shares(201,200)

Exercise of shareacquisition rights–

Net changes in
items other thanshareholders'equity(16,383)(461)(16,844)

7,675(9,169)Total changes during
period(16,383)(461)(16,844)

7,675

152,915

Balance at end ofperiod

404,333

164

404,497

58,364

7,052,539

9Non-consolidated statements of cash flows(Thousands of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

March 31, 2022

March 31, 2023

591,225

673,725

Depreciation
Impairment losses

243,604
2,502

269,790–

Share-based payment expenses
Increase (decrease) in provision for retirement benefits

10,362(61,053)

7,675(46,535)

(600)

–

7,181
(38,609)

14,771(35,897)

Interest expenses
Loss on abandonment of property, plant and equipment

245
142

228
40

Loss (gain) on sale of property, plant and equipment
Loss on cancellation of leases(542)
2,000(649)–Decrease (increase) in trade receivables
Decrease (increase) in inventories(21,018)(145,446)(835,098)(168,759)

Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes

230,427(58,280)

237,525
39,369Other, net(27,672)

3,671

Subtotal

734,467

159,854

Interest and dividends received

35,56850,261

Interest paid
Income taxes paid

(244)
(67,701)(227)(225,145)

Net cash provided by (used in) operating activities

702,090(15,257)(101,492)(79,314)542(116,109)650(24,690)

Proceeds from rental of investment property
Proceeds from collection of loans receivable

23,385120

23,252111

Proceeds from sale of investment securities
Other, net–
(7,070)596(5,624)(200,624)(85,019)

Cash flows from financing activities
Purchase of treasury shares(39,463)(201,456)

Dividends paid
Repayments of lease liabilities(114,931)(4,300)(113,382)(11,039)

Increase (decrease) in provision for retirement benefits for
directors (and other officers)
Increase (decrease) in provision for bonuses
Interest and dividend income

Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets

Net cash provided by (used in) investing activities

Other, net
Net cash provided by (used in) financing activities

10–(158,685)(325,877)

Net increase (decrease) in cash and cash equivalents

342,780(426,155)

Cash and cash equivalents at beginning of period

861,659

1,204,439

1,204,439

778,284

Cash and cash equivalents at end of period10