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 Consolidated Financial Results
for the Three Months Ended March 31, 2020
(Based on Japanese GAAP)May 11, 2020
Company name:
Optorun Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

6235
URL http://www.optorun.co.jp/
Representative Director and President/CEO Ihei Hayashi

Inquiries:

Director and Senior Managing ExecutiveOfficer General Manager of Management

Toshinori Takahashi

Department and Corporate Planning Office
Scheduled date to file Quarterly Securities Report:

May 11, 2020

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

Holding of quarterly financial results meeting:

Yes

TEL

03-6635-9487(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended March 31, 2020 (from January 1, 2020 to March 31, 2020)(1) Consolidated operating results (cumulative)

Three months ended March 31, 2020Three months ended March 31, 2019

Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
6,837 (51.1)
1,615 (60.9)
1,816 (55.8)
1,445 (59.9)
13,975
30.5
4,126
26.4
4,110
20.0
3,605
51.4
Earnings per share

Diluted earnings per share

Yen
33.99
86.62

Three months ended March 31, 2020Three months ended March 31, 2019

Yen
32.77
82.23

(2) Consolidated financial position
Total assets
As of March 31, 2020
As of December 31, 2019

Net assets

Millions of yen
53,22756,509Equity ratio

Millions of yen
33,161
34,819

%
62.3
61.6

2. Cash dividends
Annual dividends per share

Year ended December 31, 2019Year ending December 31, 2020

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
60.00

Yen
60.00

0.00

–

60.00

60.00

Year ending December 31, 2020 (Forecast)Total

3. Forecast of consolidated financial results for the year ending December 31, 2020 (from January 1, 2020 to December 31, 2020)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
46,2007.9
12,000
10.3
12,000
8.8
9,200
1.1
216.941

4. Notes(1) Changes in significant subsidiaries during the three months ended March 31, 2020(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) 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(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 202044,358,000 shares As of December 31, 2019

44,358,000 shares

Number of treasury shares at the end of the period
As of March 31, 2020

1,708,076 shares As of December 31, 2019

1,950,731 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended March 31, 2020

42,540,500 shares Three months ended March 31, 2019

241,621,436 shares

Quarterly consolidated financial statements
Consolidated balance sheets
As of December 31, 2019

(Thousands of yen)
As of March 31, 2020

26,969,840
4,252,961
11,103,107
4,070,363
1,148,282(350,710)
47,193,845

24,609,815
3,075,074
11,037,175
4,696,302
1,004,165(328,809)
44,093,724

2,763,710
65,516

2,958,500
80,258795,174
4,825,976
605,295
259,618
6,486,065
9,315,292
56,509,137

755,9074,529,055
554,545
255,831
6,095,339
9,134,097
53,227,821

2,735,267
401,691
86,864
21,588545,000
13,988,698
318,218
501,8171,226,510
19,825,656

3,333,871
401,391
66,00021,116
245,710
12,386,791
220,707413,533
1,270,588
18,359,711

120,000
45,155
1,078,794
147,514472,759
1,864,222
21,689,879

103,500
39,2991,133,475
151,722
278,998
1,706,995
20,066,706

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Investments in capital
Deferred tax assets
OtherTotal investments and other assets
Total non-current assets
Total assetsLiabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Lease obligations
Income taxes payable
Advances received
Provision for bonuses
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease obligations
Deferred tax liabilities
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities3As of December 31, 2019

(Thousands of yen)
As of March 31, 2020

400,000
9,513,800
25,801,100(128,263)
35,586,637400,000
9,574,293
24,702,591(112,452)
34,564,432(767,379)(767,379)
34,819,258
56,509,137(1,403,317)(1,403,317)
33,161,114
53,227,821

Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended
Three months ended
March 31, 2019
March 31, 2020
Net sales
13,975,669
6,837,505
Cost of sales
8,039,569
3,953,767
Gross profit
5,936,099
2,883,737
Selling, general and administrative expenses
1,809,255
1,268,722
Operating profit
4,126,844
1,615,014
Non-operating income
Interest income
18,227
20,953
Rental income
27,43028,369Foreign exchange gains
48,756
123,447
Subsidy income
1,633
67,255
Other958
8,131
Total non-operating income
97,005248,157
Non-operating expenses
Interest expenses
2,400
45
Share of loss of entities accounted for using equity
110,832
16,181
methodDonations–
16,057Other
15
14,144
Total non-operating expenses
113,247
46,429Ordinary profit
4,110,602
1,816,741
Extraordinary income
Gain on change in equity
355,100–
Total extraordinary income
355,100–
Profit before income taxes
4,465,702
1,816,741
Income taxes
860,708
370,814
Profit3,604,994
1,445,927
Loss attributable to non-controlling interests(371)–
Profit attributable to owners of parent
3,605,365
1,445,927

5Consolidated statements of comprehensive income (cumulative)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
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 ofparent
Comprehensive income attributable tonon-controlling interests

6

Three months ended
March 31, 2019
3,604,994(Thousands of yen)Three months ended
March 31, 2020
1,445,927

1,055263,320–(414,608)

74,278(221,329)

338,655
3,943,649(635,938)
809,989

3,943,541

809,989107–