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, 2019
(Based on Japanese GAAP)May 10, 2019
Company name:
Optorun Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

6235
President

URL

http://www.optorun.co.jp/Ihei Hayashi

Inquiries:
CFO,Director Senior Managing Officer
Scheduled date to file Quarterly Securities Report:

Toshinori Takahashi
May 10, 2019

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, 2019 (from January 1, 2019 to March 31, 2019)(1) Consolidated operating results (cumulative)
Net sales
Three months ended March 31, 2019
Three months ended March 31, 2018

Millions of yen
13,975
10,710Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
30.5
4,126
26.4
4,110
20.0
3,605
51.4
–
3,263
–
3,426
–
2,381
–

Earnings per share

Diluted earnings per share

Yen
86.62
57.97

Three months ended March 31, 2019
Three months ended March 31, 2018

Yen
82.23
54.10

(2) Consolidated financial position
Total assets
As of March 31, 2019
As of December 31, 2018

Net assetsMillions of yen
53,54355,644Equity ratio

Millions of yen
29,78628,062

%
55.6
50.4

2. Cash dividends
Annual dividends per share

Year ended December 31, 2018Year ending December 31, 2019

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
55.00

Yen
55.00

0.00

–

60.00

60.00

Year ending December 31, 2019 (Forecast)Total

3. Forecast of consolidated financial results for the year ending December 31, 2019 (from January 1, 2019 to December 31, 2019)
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
46,0002.8
11,3005.7
11,300
2.8
8,400
8.4
202.491

4. Notes(1) Changes in significant subsidiaries during the three months ended March 31, 2019(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, 2019

44,358,000 shares As of December 31, 2018

44,358,000 shares

Number of treasury shares at the end of the period
As of March 31, 2019

2,637,031 shares As of December 31, 20182,874,031 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended March 31, 2019

41,621,436 shares Three months ended March 31, 20182

41,081,333 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of December 31, 2018

As of March 31, 2019

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

15,740,508
6,837,100

17,664,290
8,680,184Work in process
Raw materials and supplies

20,148,171
4,339,278

15,809,052
2,667,167

Other
Allowance for doubtful accounts

1,497,420(420,067)

886,704(399,286)

Total current assets

48,142,411

45,308,112

Non-current assets
Property, plant and equipment

2,843,130

2,857,856

Intangible assets
Investments and other assets

65,55260,651

Investment securities
Investments in capital

803,1932,224,446

722,677
3,591,585

Deferred tax assets
Other

1,273,191
292,177

713,271289,707

Total investments and other assets

4,593,008

5,317,242

Total non-current assets

7,501,691

8,235,750

55,644,102

53,543,863

1,652,570

1,412,992

553,361
190,992

554,315
180,608

Lease obligations
Income taxes payable

12,213
1,143,493

22,026
576,567

Advances received
Provision for bonuses

20,108,899
440,585

17,212,046
174,832

104,926
649,249–511,333

Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable

Provision for directors' bonuses
Provision for product warranties
Other

1,066,249

1,300,173

Total current liabilities

25,922,541

21,944,897

206,864
26,948

169,500
61,1891,010,931
257,274

898,720–

138,453
18,389142,574
540,205

Non-current liabilities
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for directors' retirement benefits
Net defined benefit liability
Other
Total non-current liabilities
Total liabilities

3

1,658,861

1,812,190

27,581,403

23,757,087

(Thousands of yen)
As of December 31, 2018

As of March 31, 2019

Net assets
Shareholders' equity
Capital stock400,000

400,000

Capital surplus
Retained earnings

9,193,505
18,980,845

9,250,501
20,304,593

Treasury shares(188,971)(173,388)

28,385,379

29,781,705

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

4,539(338,123)

5,595
(524)

Total accumulated other comprehensive income(333,584)

5,070

10,903–28,062,699

29,786,776

55,644,102

53,543,863

Total shareholders' equity
Accumulated other comprehensive income

Non-controlling interests
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, 2018

March 31, 2019

Net sales
Cost of sales

10,710,689
5,713,293

13,975,669
8,039,569

Gross profit

4,997,396

5,936,099

Selling, general and administrative expenses

1,733,653

1,809,255

Operating profit

3,263,742

4,126,844

Interest income
Rent income

14,27527,55018,22727,430Foreign exchange gains
Other

145,567
4,832

48,7562,591

Total non-operating income

192,225

97,005

10,6922,400

16,056
2,697

110,832
15

Non-operating income

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Other
Total non-operating expenses
Ordinary profit

29,446113,247

3,426,522

4,110,602–

355,100

Extraordinary income
Gain on change in equity–

355,100

Profit before income taxes

Total extraordinary income

3,426,522

4,465,702

Income taxes

1,045,305

860,708

Profit2,381,216

3,604,994

Loss attributable to non-controlling interestsProfit attributable to owners of parent

5(326)(371)

2,381,542

3,605,365

Consolidated statements of comprehensive income (cumulative)(Thousands of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income

Three months ended

Three months ended

March 31, 2018

March 31, 2019

2,381,216

3,604,994(1,253)86,0781,055–(265,882)

263,320(14,650)

74,278(195,708)

338,655

Comprehensive income

2,185,507

3,943,649

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,186,419

3,943,541

(912)

107

Comprehensive income attributable to non-controllinginterests

6