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.

Consolidated Financial Results
for the Six Months Ended September 30, 2021
［Under Japanese GAAP］
November 16, 2021
Company name
L i s t i n g
Securities codeURL
Representative
I n q u i r i e sT e l e p h o n e:::::::

Tsurumi Manufacturing Co.,Ltd.
Tokyo Stock Exchange6351
https://www.tsurumipump.co.jp
Osamu Tsujimoto, President
Keiichiro Tsuruga, Executive Officer, Administration Division+81-6-6911-2351

Scheduled date to file quarterly securities report
Scheduled date to commence dividend payments::::

Preparation of supplementary material on quarterly financial results

Holding of quarterly financial results briefing

November 12, 2021
December 10, 2021
NoneNone(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the six months ended September 30, 2021 (from April 1, 2021 to September 30, 2021)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes.)
Profit attributable toNet Sales
Operating profit
Ordinary profit
owners of parent
Six months ended
Millions of yen%
Millions of yen%
Millions of yen%
Millions of yen%
September 30, 2021
22,151
9.5
2,421
9.9
2,915 14.4
2,068 14.5
September 30, 2020
20,230(1.1)
2,203
6.9
2,548 18.9
1,806 12.1(Note) Comprehensive income
For the six months ended September 30, 2021 :¥2,705 million [10.8%]

For the six months ended September 30, 2020

¥2,442 million [80.3%]:Earnings per share

Earnings per share(diluted)

Yen

Yen

82.59
72.16

――

Six months ended
September 30, 2021
September 30, 2020

(2) Consolidated financial position
Total assets
As ofSeptember 30, 2021
March 31, 2021

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

81,435
81,487

68,966
66,87483.5
81.0(Reference) Equity
As of September 30, 2021

: ¥68,027 million

As of March 31, 2021

: ¥65,980 million－1－2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Fiscal year-end

TotalYen

Yen

Yen

Yen

Yen―

14.00

―

22.00

36.00

―

17.00
―

21.00

38.00

Fiscal year ended

March 31, 2021
Fiscal year ending

March 31, 2022
Fiscal year ending

March 31, 2022
(Forecast)(Note) Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated financial results forecast for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)(Percentages indicate changes from the previous corresponding period.)

Net sales

Operating profit
Millions of yen%

Millions of yenBasicearnings
per share%

Millions of yen%

Yen

47,000
3.7
5,600
0.9
5,800 (9.4)(Note) Revisions to the forecast of consolidated financial results most recently announced: None4,060(2.3)

162.15

Millions of yen%

Profit attributable toowners of parent

Ordinary profit

Fiscal year ending

March 31, 2022

Notes
(1) Changes in significant subsidiaries during the period(changes in specified subsidiaries resulting in the change in scope of consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatementⅰ. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
ⅱ. Changes in accounting policies due to other reasons: Noneⅲ. Changes in accounting estimates: None
ⅳ. Restatement: None
(4) Number of issued shares (common shares)
ⅰ. Number of issued shares at the end of the period (including treasury shares)
As of September 30, 2021:
27,500,000 shares
As of March 31, 2021:
27,500,000 shares
ⅱ. Number of treasury shares at the end of the period
As of September 30, 2021:
2,461,987 shares
As of March 31, 2021:
2,461,871 sharesⅲ. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2021:
25,038,050 shares
Six months ended September 30, 2020:
25,038,129 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit
corporation.
* Explanations of the appropriate use of financial forecasts and other special notes
The forecasts, including financial results forecast, given in this document are based on information available to the Company and on
certain assumptions deemed to be reasonable at the time of the issuance of this document. And the Company does not guarantee theachievement of these forecasting numbers. Actual results may differ from these forecasts by a variety of reasons.
－2－1. Quarterly Consolidated Balance Sheets(Millions of yen)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Notes and accounts receivable - trade, and contract assets
SecuritiesInventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Allowance for investment loss
Total investments and other assets
Total non-current assets
Total assets－3－

As of March 31, 2021

As of September 30, 2021

15,70718,505－
1,308
10,4953,034(40)
49,01018,132－
15,3601,283
11,4242,170(27)
48,342

8,189
6,225
14,4151,435

8,219
6,792
15,012
1,448

14,368
2,413
(2)
(154)
16,62632,477
81,487

14,581
2,206
(2)
(154)
16,63233,09281,435

(Millions of yen)

Liabilities
Current liabilities
Accounts payable - trade
Current portion of long-term borrowings
Current portion of bonds payable
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provisions
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capitalCapital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
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－4－

As of March 31, 2021

As of September 30, 2021

6,519
300
700
1,164
953
2,472
12,109

5,261
300
700
636
700
2,399
9,998

1,800
195
140
367
2,502
14,612

1,800
202
135
333
2,470
12,4695,1887,810
52,133(2,119)63,012

5,188
7,810
53,634(2,119)64,513

2,078
834
54
2,968
894
66,874
81,487

2,202
1,251
60
3,514
938
68,96681,435

2. Quarterly Consolidated Statements of Income and Comprehensive Income(Quarterly Consolidated Statements of Income)(Millions of 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
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
OtherTotal non-operating expenses
Ordinary profit
Profit before income taxes
Income taxes - current
Income taxes - deferred
Income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent－5－

Six months ended

Six months ended

September 30, 2020

September 30, 2021

20,23013,459
6,770
4,567
2,203

22,151
14,714
7,436
5,015
2,421

120
131
－
294
546

124
116
117
147
505

5
150
45
201
2,548
2,548
631
71
702
1,845
38
1,806

5－
4
10
2,915
2,915
735
87
823
2,092
24
2,068

(Quarterly Consolidated Statements of Comprehensive Income)(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefits plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests－6－Six months ended

Six months ended

September 30, 2020

September 30, 2021

1,845

2,092731
(185)
50597
2,442

123483
5612
2,705

2,425

2,613

1691