Six Months Ended June 30, 2024

Supplementary Materials
for Financial Results

August 5, 2024
EBARA JITSUGYO CO., LTD.

Table of Contents
1. Executive Summary
Executive Summary

2. FY2024 Q2 Financial Results Overview
Q2 Results Highlights
Q2 Performance
Q2 Results Trends by Segment
Q2 Results by Segment (Year-on-Year)
Trends in Net Sales, Gross Profit, Orders Received, andOrders Backlog

3. FY2024 Business Plan
FY2024 Business Plan
FY2024 Progress of Business Plan

4. Action to Implement Management that is Conscious of Costof Capital and Stock PriceManagement Indicators
Cost of Equity and ROE
Policy and Initiatives
Shareholder Returns

5. Topics
We offered a manhole pump start-up support system for power failures
and flooding to assist with disaster recovery
Construction of Oita Prefecture Seed Production Center (Kunisaki) wascompleted

6. Reference Materials
Our businessBusiness Overview by Segment
Results Trends (past 10 years)
Performance© EBARA JITSUGYO CO., LTD.

2

Executive SummaryMarket Condition
 Demand for renewal and development of water infrastructure facilities, as well as for disaster prevention and mitigation, remains strong
 Private capital investment remains strong
 Price pass-through of higher material and equipment prices progresses Demand related to infectious disease control decreased

Financial Highlights for Q2
 Orders received (19.3 bn yen) and orders backlog (31.6 bn yen) exceeded the same period in the previous year Net sales 19.1 bn yen (−7.3%), operating profit 2.6 bn yen (−3.0%), and profit 1.8 bn yen (−3.2%)

FY2024 Business Plan⇒

No change in business plan Expect both net sales (38.0 bn yen) and operating profit (4.05 bn yen) to renew respective highs for the second consecutive year

© EBARA JITSUGYO CO., LTD.

3

FY2024 Q2
Financial Results Overview© EBARA JITSUGYO CO., LTD.

Q2 Results Highlights

MarketCondition

 Demand for renewal and development of water infrastructure facilities, as well as for disaster prevention andmitigation, remains strong
 Private capital investment remains strong
 Price pass-through of higher material and equipment prices progresses Demand related to infectious disease control decreased*All comparisons are year-on-year

Net Sales

19.10 bn yen（1.49 bn yen↓/ 7.3％↓）

Gross Profit

6.22 bn yen（0.07 bn yen↑/ 1.3％↑）

Operating Profit

2.61 bn yen（0.08 bn yen↓/ 3.0％↓）

 Sales of storage batteries and infectious diseases
control equipment decreased in the Manufacturingbusiness Decreased in the Engineering business due in partto longer construction periods
 Decreased in the Trading business reflecting low
orders backlog at the beginning of the period

 Increased thanks to an increase in profit margin
despite a decline in net sales
 Price pass-through of higher material andequipment prices progresses

 SG&A expenses, mainly in labor costs,
increased Operating profit decreased due to an increasein SG&A expenses

Orders Received

19.31 bn yen

 Increased in the Manufacturing business andthe Trading business Decreased in the Engineering business（0.53 bn yen↑/ 2.8％↑）

Orders Backlog

 Orders backlog increased in all segments

31.63 bn yen（4.20 bn yen↑/ 15.3％↑）

Ordinary Profit

Profit2.71 bn yen

1.84 bn yen（0.04 bn yen↓/ 1.5％↓）（0.06 bn yen↓/ 3.2％↓）© EBARA JITSUGYO CO., LTD.

5

Q2 Performance

FY2022 Q2(Unit: mn yen)

FY2023 Q2Ratio (%)

FY2024 Q2

Ratio (%)

Year-on-Year

Ratio (%)

Change (%)

ChangeNet Sales

16,864100.0

20,599100.0

19,100

100.0

- 7.3

- 1,499

Gross Profit

5,438

32.2

6,143

29.8

6,221

32.6

+ 1.3

+ 78

SG&A Expenses

3,215

19.1

3,453

16.7

3,611

18.9

+ 4.6

+ 158

Operating Profit

2,222

13.1

2,690

13.0

2,610

13.7

- 3.0

- 80

Ordinary Profit

2,309

13.7

2,754

13.3

2,712

14.2

- 1.5

- 42

Profit

1,703

10.1

1,908

9.2

1,848

9.7

- 3.2

- 60

Orders Received

17,151-

18,782-

19,316

-

+ 2.8

+ 533

Orders Backlog

25,123-27,434-

31,637-+ 15.3+ 4,203© EBARA JITSUGYO CO., LTD.

6

Q2 Results Trends by Segment
FY2022Q2

FY2023Q2

FY2024
Q2

Orders Received

3,848

3,871

Net Sales

3,306

Gross Profit(Unit: mn yen)

Manufacturing

Engineering

TradingYear-on-Year
Change (%)

Change

4,018

＋ 3.8

＋ 146

4,074

3,471

- 14.8

- 602

1,416

1,695

1,433

- 15.4- 261

Orders Received

6,813

9,645

9,271

– 3.9

- 374

Net Sales

9,018

10,342

9,908

- 4.2

- 433

Gross Profit

2,838

2,990

3,307

＋ 10.6＋ 317

Orders Received

6,489

5,265

6,026

＋ 14.5＋ 761

Net Sales

4,539

6,182

5,719

- 7.5

- 462

Gross Profit

1,183

1,457

1,480

＋ 1.5

＋ 22
© EBARA JITSUGYO CO., LTD.

7

Q2 Results by Segment (Year-on-Year)
Manufacturing(Unit: mn yen)Orders Received+0.14 bn yen

Orders Received

3,871

4,018

（+3.8％）FY2023 Q2

FY2024 Q2Net Sales-0.60 bn yen

4,074（-15.4％）

Change factors

Measuring Decreased due to stagnant capital investment in the semiconductor
sector-349

Energy-saving/creating

 Orders for storage batteries for temporary site office increased+141

Deodorizing

 Demand for deodorizers remained stable

Change-6

Water treatment
plants Orders in plant drainage facilities and land-based aquaculture
facilities increased+543

Medical Demand for infectious disease control equipment decreased

-185

3,471

(Unit: mn yen)

Field

FY2024 Q2

Gross Profit Margin

41.6%

1,695
FY2023 Q2

41.3%

1,433
FY2024 Q2Change factors

Change Increased thanks to strong shipments as a result of an
improvement in procurement of materials and equipment+59

Energy-saving/creating

 Sales for storage batteries and energy-saving blowers for industry
use decreased-475

Deodorizing

 Demand for deodorizers remained stable+40

Water treatment
plants Sales in plant drainage facilities and land-based aquaculture
facilities increased+101

Medical Demand for infectious disease control equipment decreased-331

Measuring
FY2023 Q2-0.26 bn yen

Field

Net Sales（-14.8％）Gross Profit(Unit: mn yen)

Gross profit
 Gross profit decreased in line with a decrease in net sales
 Gross profit margin decreased due to decrease in the medical field© EBARA JITSUGYO CO., LTD.

8

Q2 Results by Segment (Year-on-Year)
Engineering(Unit: mn yen)Orders Received-0.37 bn yen

Trading

9,645（-3.9％）FY2023 Q2

9,271

FY2024 Q2Net Sales-0.43 bn yen

 Demand for renewal anddevelopment of water
infrastructure facilities, as well
as for disaster prevention andmitigation, remains strong
 Decreased in reaction tolarge-scale orders received in
the same period in theprevious year Decreased due to longer
construction periods

10,342（-4.2％）+0.31 bn yen（+10.6％）5,265

 Demand for equipment forplants in the semiconductor
industry, etc. increased

6,026（+14.5％）

FY2023 Q2

FY2024 Q2

 Decreased reflecting low
orders backlog at the
beginning of the period

Net Sales
6,182

5,719

FY2023 Q2

FY2024 Q2（-7.5％）FY2023 Q2Gross Profit+0.76 bn yen-0.46 bn yen

9,908(Unit: mn yen)Orders Received

Gross Profit Margin

FY2024 Q2

33.4%

28.9%

2,990

3,307

FY2023 Q2

FY2024 Q2

 An increase in gross profit
margin offset a decrease in
net sales Profit increased due to designchanges in some large
projects

Gross Profit+0.02 bn yen（+1.5％）

Gross Profit Margin

23.6%

25.9%

1,457

1,480

FY2023 Q2

FY2024 Q2

 The effect of the largescale low-margin projects
in the previous year
diminished© EBARA JITSUGYO CO., LTD.

9

Trends in Net Sales, Gross Profit, Orders Received, and Orders Backlog
Manufacturing

TradingEngineering(Unit: mn yen)

Trend in Net Sales

16,087
2,901

19,013
5,591

16,864

20,599
4,074

3,306

8,000

8,949

9,018

5,185

4,472

4,539

FY2020 Q2

FY2021 Q2

FY2022 Q2

Trend in Orders Received

19,1003,471

15,533 15,184
3,334

3,510

7,380

6,506

5,719

4,817

5,167

FY2024 Q2

FY2020 Q2

FY2021 Q2

10,342

9,908

6,182
FY2023 Q2

Trend in Gross Profit

6,463
4,802

2,494

1,175

5,438
1,416

17,151

18,782 19,316
3,871

4,018

6,813

9,645

9,271

6,489

5,265

6,026

FY2022 Q2FY2023 Q2

FY2024 Q2

3,848

Trend in Orders Backlog

6,143

6,221

1,695

1,433

2,990

3,307

25,123
18,424 18,899
3,461

2,463

10,795

11,565

2,371

2,825

2,838

1,255

1,143

1,183

1,457

1,480

4,167

4,870

FY2020 Q2

FY2021 Q2

FY2022 Q2FY2023 Q2

FY2024 Q2

FY2020 Q2

FY2021 Q2

3,714

27,434
4,308

31,637
4,659

20,912

14,23917,688

7,169

5,437

6,066

FY2022 Q2FY2023 Q2

FY2024 Q2© EBARA JITSUGYO CO., LTD.

10

FY2024 Business Plan

© EBARA JITSUGYO CO., LTD.

No change in business plan

FY2024 Business Plan As the current market conditions in both public and private sectors remain strong, net sales are expected to increase on the back of
the highest-level orders backlog at the beginning of the period (up 2.1 bn yen from the previous period) Aim to improve gross profit margin with price pass-throughs and cost-reduction efforts to cope with higher material and equipment
prices due to price increases
 Plan to increase SG&A expenses in response to rising higher R&D costs stemming from active development investment and laborcosts due to prices trending upward
FY2022 Results(Unit: mn yen)

FY2023 Results

Ratio (%)

FY2024 Plan

Ratio (%)

Year-on-Year

Ratio (%)

Change (%)

ChangeNet Sales

30,229100.0

36,280100.0

38,000

100.0

+ 4.7

+ 1,720Gross Profit

9,282

30.7

11,14230.7

11,850

31.2

+ 6.4

+ 708

SG&A Expenses

6,525

21.6

7,117

19.6

7,800

20.5

+ 9.6

+ 683

Operating Profit

2,756

9.1

4,025

11.1

4,050

10.7

+ 0.6

+ 25

Ordinary Profit

2,929

9.7

4,164

11.5

4,200

11.1

+ 0.9

+ 36

Profit

2,169

7.2

3,141

8.7

3,150

8.3

+ 0.3

+9

Orders Received

34,643-38,452-38,500

-

+ 0.1

+ 48

Orders Backlog

29,250-31,421-

31,921

-

+1.6

+ 500
© EBARA JITSUGYO CO., LTD.

12

FY2024 Progress of Business Plan

Comparison of Q2 and annual business plans
FY2024
Businessplan

FY2024 Q2
results

Orders received

38,50019,316Net Sales

38,00019,100Gross Profit

11,8506,221

Operating Profit

4,050

2,610

Overview
 The market conditions were generally in line with expectations
 The results in the first half remained generally steady The average progress rate in orders received exceeded those in the past years
 The average progress rates in net sales, gross profit, and operating profit fell below
those in the past years, but the business plan for the entire year remained
unchanged on the back of high orders backlog

Outlook by segment for Q3 onward
Orders backlogs in all segments exceeded those in the same period in the previous year

(Unit: mn yen)Q2 progress rate against annual performance(Comparison with five-year average progress rate)
Five-year
averageprogress rate

FY2024 Q2
progress rate

Orders received

45.7%

50.2%

Net Sales

55.9%

50.3%

Gross Profit

56.9%

52.5%

Operating Profit

73.6%

64.4%

Manufacturing (environment-related) A decrease in demand related to semiconductors is associated with demandcycles and is in line with expectations
 Expected to see increases in plant drainage facilities and land-based
aquaculture facilities Demand related to infectious disease control equipment is expected toremain sluggish

Engineering (water-treatment-related) Demand for renewal and development of water infrastructure facilities, aswell as demand for disaster prevention and mitigation, remains strong
 Expected to record sales as the highest orders backlog is expected to offset
the foreseeable effects of larger-scale construction and longer construction
periods

Trading (fluid machinery-related) Capital investment is expected to remain steady

Progress rate = Q2 results / annual results (planned value for current period)

Orders backlog

Five-year
average

FY2024 2Q

20.9 bn yen

31.6 bn yen

13© EBARA JITSUGYO CO., LTD.

13

Action to Implement Management that is Consciousof Cost of Capital and Stock Price© EBARA JITSUGYO CO., LTD.

Management Indicators
Stock Price/Market Capitalization
Market Capitalization（mn yen）

1,026

902.5

1,113

13,77912,121

14,948FY2017FY2018FY20192,030
27,263
FY20202,487
33,400

FY2021

ROE
Stock Price（yen）

2,204
28,498FY2022

4,125

2,956
38,221

FY202353,336FY2024 (Jun.)

ROE (％)

11.6

FY2017

12.7

PBRの推移2.3

FY2017

1.5
1.0

1.0

FY2018FY2019FY201911.6

FY2020

FY2021

FY202215.9

FY2023PER

PBR (times）

1.1

11.0

FY2018

17.6

14.8

1.6

1.5

PER (times)

1.7

10.2

1.0

FY2020

FY2021

FY2022

FY2023* PER in June 2024 is based on the projection of profit per share in FY2024.

FY2024 (Jun.)

FY20177.5

FY20189.7

FY201911.0

FY20209.8

FY2021

12.4

FY202215.6
11.2

FY2023

FY2024 (Jun.)© EBARA JITSUGYO CO., LTD.

15

Cost of Equity and ROE
 ROE constantly exceeds the cost of equity
 Aiming for ROE of 13% or higher on a stable basis

ROE and Cost of Equity

Cost of Equity（%）

ROE (％)

17.6
15.9

14.8
11.6

12.7

11.6

11.0

around 8%
FY2017

Cost of Equity

FY2018FY2019Risk-free rate
Safe assets/risk-free interest rates* Calculated based on the 10-year
government bond yield

FT2020+

Beta (β) sensitivity
Inherent risks

FY2021

FY2022×

FY2023

Risk premium
Excess return ratio expected for equity investment* Determined based on past stock market returns

In addition to the reference for CAPM, conducted interviews with institutional investors to ascertain the level of the Company's cost of equity
And as a result, estimated the required cost of equity at around 8%© EBARA JITSUGYO CO., LTD.

16

Policy and Initiatives
The stock price has been continuously rising, reflecting our business performance, shareholder returns, and IR activities,
and the market capitalization has increased about fourfold in seven years to reach 50 bn yen.

Analysis on current
conditions

Policy

The cost of equity is estimated at around 8% based on CAPM, interviews with institutional investors, etc.



ROE stood at 11.6% in FY2022 and 15.9% in FY2023 and is projected at 13% or higher in FY2024, remaining above thecost of equity.



PER is about 7.5 to 15.6 times. Although it has been on an upward trend, it is moving slightly below the industry standard.



PBR has remained above 1.0 times. It was 1.7 in FY2023, rising to stand at 2.3 as of June 2024.

To state clearly that we aim for net sales of 60.0 bn yen and operating profit of 8.0 bn in our long-term vision for 2030



To achieve targets set in the Medium-Term Management Plan [EJ2024], a period that we consider lays the basis for theachievement of our long-term vision (ROE of 13% or higher)In the process of formulating the Medium-Term Management Plan [EJ2027], a period that we consider will accelerate
growth to achieve our long-term vision (set to be announced in February 2025)

Growth investing

Initiatives
to be
taken

Shareholder returns

We will promote growth investing that contributes to the sustainable enhancement of corporate value, while also seeking tobalance financial health, capital efficiency, and profit returns.
We will continue to make stable dividend payments at a payout ratio of about 35% and obtain treasury shares flexibly.

Profitability improvement

We will aim for an operating profit margin of 13% or higher in our long-term vision, while improving the business portfolio tofocus more on profitable businesses such as Manufacturing.

Dialogue withshareholders/investors

Our management will actively engage in dialogue and is shared the feedback with the Board of Directors, so they can makedecisions that will contribute to enhancing corporate value.
© EBARA JITSUGYO CO., LTD.

17

Shareholder Returns
Basic Policy
Maintain stable and continuous profit
distribution with a target payout ratio of 35%
Forecast dividend of 95 yen per share for FY2024(to be increased by 10 yen)
Trends in Annual Dividends per Share

35.2%

30.8%

29.3%

Dividends

FY2023ResultFY2024
Forecast

Annual85.0 yen85.0 yen95.0 yenInterim42.5 yen

42.5 yen

47.5 yen

Year-end

42.5 yen

42.5 yen

47.5 yen

48.0％

32.3%

36.0%

Payout ratio

Dividend
(yen)

24.8%

FY2022
Result24.9%

PayoutRatio (%)

26.2%

48.0%

29.8%

33.6%

32.3%

85

85

85

FY2021

FY2022

FY2023

36.0%
95

55
22.5

22.5

22.5

25

30

30

FY2014FY2015FY2016FY2017FY2018FY2019270 mn yen

Acquisition of Treasury Shares

Total Payout Ratio

29.3％

24.8％

42.1％

FY2020570 mn yen 1,000 mn yen 320 mn yen
26.2％

53.9％

65.3％

63.1％

FY2024

Forecast

680 mn yen
53.8％© EBARA JITSUGYO CO., LTD.

18

Topics© EBARA JITSUGYO CO., LTD.

We offered a manhole pump start-up support system for power failures
and flooding to assist with disaster recovery
Disaster prevention / mitigation

TopicsStorage battery

We offered without charge our “manhole pump start-up system for power failures and flooding” at the requestof the local government affected by the 2024 Noto Peninsula Earthquake.
The quake-hit areas were faced with malfunctioning manhole pump facilities as some control panels were inundated due to tsunami waves.
As the areas lie on the low ground facing the Sea of Japan, during the restoration of the facilities, it was anticipated that they could be struck by power failure
due to lightning or become flooded due to another tsunami.
If a power outage occurs or the control panel is flooded, however, our system will help them smoothly recover from such emergencies, by getting power from anelectric vehicle or portable storage battery.
Power socket(power switching
panel)

Selected as one of the technologies/services that have proven effective indisaster prevention following the Noto Peninsula Earthquake

Control panel for MHP
start-up support system for
power failures
Electric vehicle

Portable control panel
Portable storage
battery

The system has been selected as one of the technologies considered effective if used by
local governments among those new technologies that were recognized as effective indisaster prevention by the Cabinet Office’s public-private partnership platform, “Disaster
Prevention × Technology,” receiving recognition for our restoration work after the Noto
Peninsula Earthquake.
General diagram ofsystemPortable external
power output device

Plug-in connector

Plug-in connector

If a power outage occurs

If the control panel is flooded

An electric vehicle or a portablestorage battery will supply power
to the control panel.

Power will be supplied byconnecting a temporary control
panel and portable storage battery
to the power socket installed at ahigher place.

Power loss due
to power outage

Electric vehicle
Control panel
for the system
External
power supply

Portable storage battery

Dedicated connector

Pump
Flow

In March 2024, the system wasregistered with the New Technology
Information System (NETIS), by the
Ministry of Land, Infrastructure,
Transport and Tourism.
The Ministry of Land, Infrastructure,
Transport and Tourism
New Technology Information System

Manholepump

Registration number: KT-230316-A© EBARA JITSUGYO CO., LTD.

20

Topics

Construction of Oita Prefecture Seed Production Center (Kunisaki) was completed
Fisheries
In July 2024, a ceremony was held to celebrate the completion of the Oita
Prefecture Seed Production Center (Kunisaki), whose facilities we partiallyconstructed.

The center serves as a fisheries farming base producing seeds (juvenile fish) for release in the
Seto Inland Sea off Oita Prefecture. In the center’s project to renovate the facilities and enhance
its production capacity, we were commissioned to construct a series of facilities to pump up,
filtrate, sterilize, and control the temperature of seawater needed for seeds farming, and tocontrol lighting.
Taking advantage of our years-long experience in aquaculture facilities, we will contribute to
the development of the fisheries industry by providing seed production facilities and land-based
aquaculture systems.
Seeds produced at the center• Marbled flounders • Prawns • Swimming Crabs • Flounders• Red-spotted groupers
Newly installed facilities

・Recirculation aquaculture system
is a production method that is friendly to the marine environment and facilitates lessfrequent changes of the water as it circulates and filtrates water.

・Green LED irradiation facility

is a lighting facility to expedite production, capitalizing on the characteristics of flounders,which grow faster under green lights.
© EBARA JITSUGYO CO., LTD.

21

Reference Materials© EBARA JITSUGYO CO., LTD.

Our business
Manufacturing (environment-related)

The development, manufacture, and sales of environmentrelated products and facilities

21.1
%

30.2
%
Net Sales Highest-focus business with our own products
 Highly profitable, aiming for 50% in gross profit

Year ended
December 31, 2023

36,280 mn yen

The three businesssegments

48.7%

Engineering (water-treatment-related)

The design, construction, and maintenance of water
infrastructure facilities
 Steady demand for renewals and repairs, and steadydisaster-prevention needs
 Business domains are being explored and expanded

Trading (fluid machinery-related)

Sales of pumps, blowers, air conditioners etc., mostly
Ebara products, as an agent
 Focuses on sales of pumps, a major product, as well as
new products
 Caters to redevelopment projects
Note: “Ebara products” implies various products of Ebara Corporation (Ebara Group).
There is no capital relationship between Ebara Corporation (Ebara Group) and Ebara Jitsugyo.

29.3
%

24.0
%
Gross profit

Year ended
December 31, 2023

11,142 mn yen

46.7%© EBARA JITSUGYO CO., LTD.

23

Business Overview by Segment: Manufacturing (environment-related)
Manufacturing
メーカー事業 (環境関連)(environment-related)
環境関連製品・設備のThe開発・製造・販売
development, manufacture, andsales of environment-related
products and facilities

Proportion of
consolidated net sales

Net SalesYear ended
December 31, 2023

Concept

Proportion of
consolidated gross profit

Year ended
December 31, 2023

3,260
mn yenSocial needs:

Needs for specialized
water and air products

21.1
%

7,654
mn yenGross Profit

Diverse customer attributes and products

29.3%

Supply niche andspecialized water and air
products to the market

Measuring

Highprecisionozone gasanalyzer

Ozone gas/water
analyzer for
semiconductors

Energy-saving/creatingHomebatteries

Energy-saving
blowers

Deodorizing

Humus
deodorizers

Bio
desulfurizationequipment

Water treatment
Plants

Efficientsandfiltrationequipment

Land-based
aquaculture
systems

Medical

Simplenegativepressureequipment

Indoor ozone
sanitizationequipment

We supply our original
and competitive productsthat are highly
profitable© EBARA JITSUGYO CO., LTD.

24

Business Overview by Segment: Manufacturing (environment-related)
Field

Measuring

Energy-saving/creating

Deodorizing

Water treatment
plantsMedicalBusiness
 Manufacture and sales ofmeasuring equipment usedmainly for water treatment
 Manufacture and sales ofmeasuring equipment for
semiconductors

Main customers
 Public facilities(advanced waterworks and seweragefacilities)
 Private sector plants(including semiconductors, LCD, and food) Development, design,
construction and sales of
ZEB/ZEH-related products

 Private companies(air conditioner manufacturers, officebuildings, etc.)

 Manufacture and sales of
blowers, especially energysaving blowers

 Private sector plants(including food, drinks, paper, andchemicals) Manufacture and sales of
deodorizers and deodorizing
equipment, especially industrial
deodorizers

 Public facilities(sewerage, and sewerage for agriculturalcommunities) Design, construction and sales ofbio-deodorizing anddesulfurization equipment

 Private sector plants (including for food anddrinks)

Product examples
Highprecisionozone gasanalyzer

Ozone gas/water
analyzer for
semiconductors

Home
batteries

Energy-saving
blowers

Humus
deodorizers

Bio
desulfurizationequipment

Efficient sandfiltrationequipment

Land-based
aquaculture
systems

Simplenegativepressureequipment

Indoor ozone
sanitizationequipment Shopping centers (grease and sludge
trapping systems) Design and construction ofindustrial waterworks andwastewater facilities

 Private sector plants(including food, drinks, paper, andchemicals) Engineering for aquacultures, fish
farms and waterscape facilities Public facilities (including fisheries
research institutes)

 Development and sales of
medical equipment including forpreventing infectious diseases
and for emergency disastermeasures Medical institutions, municipalities, central
government, and others
 Private sector companies, plants, etc.

 Others© EBARA JITSUGYO CO., LTD.

25

Business Overview by Segment: Engineering (water-treatment-related)
Engineering (watertreatment-related)
The design, construction, andmaintenance of water infrastructure
facilities

Net SalesYear ended
December 31, 2023

17,671mn yen

Proportion of
consolidated net sales

48.7%

Gross Profit
Year ended
December 31, 2023

5,201
mn yen46.7 Proportion of% consolidated gross profit

Waterworks

We handle design, construction and maintenance work for all
equipment and devices to take in water from rivers, lakes andgroundwater, from various water treatment equipment through toequipment to supply water to homes and business sites.

Sewerage

We handle design, construction, and maintenance work for all
types of facilities, equipment and devices including for interim
pumping stations that collect contaminated water and send it tosewerage stations, various sewerage stations, and water treatment
stations that send clean, treated water back to rivers etc.

Rainwater draining
facilities

These facilities are rolled out nationwide to protect the lives ofpeople in areas prone to serious damages from river flooding due
to torrential rain from typhoons. We handle the design, construction,and maintenance of rainwater draining pumps and electricity
systems for target facilities.

Manhole pumpfacilities

These facilities are being used nationwide as a new armor forsmall-scale contaminated-water-transferring pumping stations,which are essential to spread the use of sewerage systems. The
facilities are compact, with a tank to collect contaminated water(manhole) set with an underwater pump and employed in places
with insufficient space for other facilities.

Cloud monitoring
systemE-Qias Cloud

We offer a system to remotely monitor waterworks and sewerage
stations.

© EBARA JITSUGYO CO., LTD.

26

Business Overview by Segment: Trading (fluid machinery-related)
We sell industrial machines such as pumps, blowers,
air conditioners, coolers and heaters, for buildings
including shopping centers and factories

Trading (fluid machinery-

related)

Sales of pumps, blowers, airconditioners etc., mostly Ebara
products, as an agent
Proportion of
consolidated net sales

30.2%

Net SalesYear ended
December 31, 2023

Pumps/ blowers/air
conditioning, cooling andheating/energy/other

Water-supply
pump units

Fire extinguishingpumps

10,954mn yen

Proportion of
consolidated gross profit

24.0
%

Fans

Gross Profit
Year ended
December 31, 2023

2,680
mn yenCrushers

The manufacture andinstallation of steel
scaffolding forconstruction sites andplant facility stands (steel
structures)© EBARA JITSUGYO CO., LTD.

27

Results Trends (past 10 years)
Trends in ROE and Equity Ratio

Trends in Net Sales and Operating Profit
Net Sales

Gross Profit
MarginOperating Profit
MarginOperating Profit(Unit: mn yen)

Equity Ratio

36,280

53.3%
49.1%

32,48529,93926,994

ROE

27,77129,295

21.7%

24.0%

30,22938.4%

26,110
27.7%

24.7%

28,431

30,250

45.3%

29.8%
25.8%

26.8%

32.3%

4,025

3,982
3,214

54.9%
50.2%

47.1%

41.3%

17.6%

30.7%

30.7%

51.4%

53.6%

15.9%

14.8%
10.3% 10.8%

10.2%

FY2014FY2016

11.6%

12.7%

11.6%

11.0%

2,756
2,139
1,417 1,290
1,146
3.8%

FY20145.3%

4.6%

FY2015FY2016

1,717

2,024
10.6%

6.6%

7.3%

7.1%

FY2017FY2018FY2019FY202012.3%
9.1%

FY2021

FY2022

11.1%

FY2023

FY2015FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023© EBARA JITSUGYO CO., LTD.

28

Performance (Q2)FY2020 Q2(Unit: m n yen)

Gross profit

Net sales

Orders received

Measuring
Energy-saving/creating
Deodorizing
Water treatment plants
MedicalManufacturing
Engineering
Trading
Total
Measuring
Energy-saving/creating
Deodorizing
Water treatment plants
MedicalManufacturing
Engineering
Trading
Total
Manufacturing
Engineering
Trading
Total
Selling, general and administrative expenses
Operating profit
Non-operating profit
Non-operating expenses
Ordinary profit
Extraordinary income
Extraordinary losses
Profit before income taxes
ProfitResult
811
448
292
1,036
747
3,334
7,380
4,817
15,533
496
307
571
1,207
320
2,901
8,000
5,185
16,087
1,175
2,371
1,255
4,802
2,819
1,982
110
29
2,062
28
2,034
1,428

FY2021 Q2
YoY+20.0%+26.2%-37.9%+75.0%+492.9%+50.2%+107.6%-16.5%+34.5%-24.4%+14.6%-14.6%+27.9%+160.2%
+9.0%
+6.8%
-5.8%
+2.8%
+10.6%+15.8%+9.5%+12.8%+4.2%+27.8%+26.5%+24.7%+24.5%

Result
777
378
885
609
861
3,510
6,506
5,167
15,184
688
304
578
1,328
2,693
5,591
8,949
4,472
19,013
2,494
2,825
1,143
6,463
3,191
3,271
119
57
3,334
338
26
3,646
2,555

FY2022 Q2
YoY-4.2%-15.6%+203.1%-41.2%+15.3%+5.3%-11.8%+7.3%-2.2%+38.7%-1.0%+1.2%+10.0%+741.6%+92.7%+11.9%-13.8%+18.2%+112.2%+19.2%-8.9%+34.6%+13.2%+65.1%+61.7%+79.3%+78.9%

Result
1,099
487
636
1,053
573
3,848
6,813
6,489
17,151
768
322
730
897
589
3,306
9,018
4,539
16,864
1,416
2,838
1,183
5,438
3,215
2,222
122
35
2,309
140
21
2,428
1,703

FY2023 Q2
YoY+41.4%+28.8%-28.1%+72.9%-33.4%+9.6%+4.7%+25.6%+13.0%+11.6%+5.9%+26.3%-32.5%-78.1%-40.9%+0.8%+1.5%-11.3%-43.2%+0.5%+3.4%-15.9%+0.8%-32.1%-30.7%-33.4%-33.3%

Result
1,022
525
882
1,136
306
3,871
9,645
5,265
18,782
750
944
750
1,149
481
4,074
10,342
6,182
20,599
1,695
2,990
1,457
6,143
3,453
2,690
126
62
2,754
2,754
1,908

FY2024 Q2
YoY
-7.0%
+7.8%
+38.7%+7.9%-46.6%+0.6%+41.6%-18.9%+9.5%-2.3%+193.2%+2.7%+28.1%-18.3%+23.2%+14.7%+36.2%+22.1%+19.7%+5.4%+23.2%+13.0%+7.4%+21.1%+19.3%+13.4%+12.0%

Result
673
666
877
1,679
121
4,018
9,271
6,026
19,316
809
469
790
1,251
150
3,471
9,908
5,719
19,100
1,433
3,307
1,480
6,221
3,611
2,610
132
29
2,712
0
2,712
1,848

YoY
-34.1%+26.9%-0.6%+47.8%-60.5%+3.8%-3.9%+14.5%+2.8%+7.9%-50.3%+5.3%+8.9%-68.8%-14.8%
-4.2%
-7.5%
-7.3%
-15.4%+10.6%
+1.5%
+1.3%
+4.6%
-3.0%

-1.5%

-1.5%
-3.2%

© EBARA JITSUGYO CO., LTD.

29

Performance (annual)
FY2021

FY2020(Unit: m n yen)

Gross profit

Net sales

Orders received

Measuring
Energy-saving/creating
Deodorizing
Water treatment plants
MedicalManufacturing
Engineering
Trading
Total
Measuring
Energy-saving/creating
Deodorizing
Water treatment plants
MedicalManufacturing
Engineering
Trading
Total
Manufacturing
Engineering
Trading
Total
Selling, general and administrative expenses
Operating profit
Non-operating profit
Non-operating expenses
Ordinary profit
Extraordinary income
Extraordinary losses
Profit before income taxes
ProfitResult
1,519
642
987
2,094
3,729
8,972
15,7489,278
34,000
1,388
689
1,016
2,629
1,733
7,456
13,155
9,639
30,250
3,011
3,752
2,246
9,010
5,795
3,214
209
61
3,363
3
27
3,339
2,342

YoY
+25.3%+7.0%-17.0%-2.1%+1873.0%+68.4%+30.4%-14.2%+20.5%
+6.4%
-6.1%
-9.1%
+47.4%+386.8%+40.8%
+4.9%
-9.0%
+6.4%
+43.0%+11.8%+4.0%+18.2%+3.6%+58.8%+55.0%+53.9%+54.9%

Result
1,717
739
1,197
2,110
1,476
7,240
17,435
10,33835,014
1,514
590
1,023
2,033
3,402
8,563
14,683
9,238
32,485
3,803
4,403
2,281
10,489
6,507
3,982
230
102
4,110
338
57
4,392
3,159

FY2022
YoY+13.0%+15.1%+21.3%+0.8%-60.4%-19.3%+10.7%+11.4%+3.0%+9.1%-14.4%+0.7%-22.7%+96.3%+14.9%+11.6%-4.2%+7.4%+26.3%+17.4%+1.6%+16.4%+12.3%+23.9%+22.2%+31.5%+34.9%

Result
1,908
1,120
1,264
2,228
1,106
7,626
16,34910,66734,643
1,350
637
1,252
2,060
989
6,288
14,4089,532
30,229
2,580
4,234
2,467
9,282
6,525
2,756
241
68
2,929
140
21
3,048
2,169

FY2023
YoY+11.1%+51.6%+5.6%+5.6%-25.1%
+5.3%
-6.2%
+3.2%
-1.1%
-10.8%+8.0%+22.4%+1.3%-70.9%-26.6%
-1.9%
+3.2%
-6.9%
-32.2%-3.8%+8.1%-11.5%+0.3%-30.8%-28.7%-30.6%+31.3%

Result
1,682
1,018
1,622
2,328
605
7,255
20,835
10,36038,452
1,792
1,503
1,403
2,251
705
7,654
17,671
10,95436,280
3,260
5,201
2,680
11,142
7,117
4,025
241
103
4,164
201
0
4,365
3,141

FY2024
YoY-11.8%-9.1%+28.3%+4.5%-45.3%-4.9%+27.4%-2.9%+11.0%+32.7%+135.9%+12.1%+9.3%-28.7%+21.7%+22.6%+14.9%+20.0%+26.4%+22.8%+8.6%+20.0%+9.1%+46.0%+42.1%+43.2%+44.8%

Plan
1,600
1,600
1,400
2,400
500
7,500
20,00011,00038,500
1,700
1,700
1,200
2,400
500
7,500
19,50011,00038,000
3,250
5,900
2,700
11,850
7,800
4,050
200
50
4,200
200
4,400
3,150

YoY
-4.9%
+57.2%-13.7%+3.1%-17.4%
+3.4%
-4.0%
+6.2%
+0.1%
-5.1%
+13.1%-14.5%+6.6%-29.1%-2.0%+10.4%
+0.4%
+4.7%
-0.3%
+13.4%
+0.7%
+6.4%
+9.6%
+0.6%

+0.9%

+0.8%
+0.3%

© EBARA JITSUGYO CO., LTD.

30

This presentation contains descriptions about our future performance. These descriptions do not
warranty future performance and entail risks and uncertainties. Please note that future performancecan differ from the forecast values due to factors such as changes in the management environment.
The purpose of this presentation is only to provide information and not to solicit business deals.
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.
Planning & Strategy Office

TEL 03-5565-2885