Financial Results for the Fiscal Year Ended October 31, 2023
[Japan GAAP] (Consolidated)
Date:

December 14, 2023

Company Name and Code: Tomoe Engineering Co., Ltd. and Subsidiaries - 6309
(URL: http://www.tomo-e.co.jp/index_e.html)
Stock exchange listing:

1st Section, Tokyo Stock Exchange

Head Office:5-15, Kitashinagawa 5-chome, Shinagawa-ku, Tokyo, Japan

President:

Akitomo Tamai

Investor Relations Contacts: Kazuyuki Kitta, Director & Executive Officer, Accounting & Cooperate Planning Dept.
Tel: (03) 3442-5127
Date of Annual Shareholders Meeting: January 30, 2024
Date of Dividend Payment:

January 31, 2024

Date of Financial Statement: January 30, 2024
Preparation of Supplementary Explanatory Materials for Annual Operating Results: Yes
Briefing Session for Annual Operating Results: Yes (for analysts and institutional investors)* Any fractional sums less than one million (or one thousand) yen are disregarded
1. Consolidated Financial Results for the Year Ended October 31, 2023
(1) Results of Operation (Consolidated)
Net Sales(Millions of Yen)

(Percent: change from the previous year)
Operating Income
Ordinary Income(Percent)(Millions of Yen)

Year Ended
October 31, 2023
49,628
8.9
4,048
Year Ended
October 31, 2022
45,5883,299(Note) Comprehensive income
Fiscal year ended October 31, 2023: 3,123 million yen (2.6%)
Fiscal year ended October 31, 2022: 3,045 million yen (14.2%)
Net Income Attributableto Owners of the Parent(Millions of Yen)

(Percent)(Percent)(Millions of Yen)

(Percent)

22.7

4,115

20.3

16.0

3,421

17.8

Net
Income per
Share

Fully Diluted Net
Income per
Share

Return on
EquityReturn on
AssetsReturn on
Sales

(Yen)

(Yen)

(Percent)(Percent)(Percent)

Year Ended
October 31, 2023
2,733
2.8
273.95
7.7
8.7
8.2
Year Ended
October 31, 2022
2,659
26.1
266.53
8.0
7.7
7.2(Reference) Equity in earnings (loss) of unconsolidated subsidiaries and affiliates
Fiscal year ended October 31, 2023: None
Fiscal year ended October 31, 2022: None
(Note) We have applied Accounting Standard for Revenue Recognition (ASBJ Statement No. 29) such from the beginning of theprevious fiscal year ending October 31, 2022. Because a significant impact on net sales arises, the year-on-year percentage change in net
sales for the fiscal year ending October 31, 2022 is not shown.
(2) Financial Condition (Consolidated)
Total Assets (A) Net Assets (B)(Millions of Yen)

(Millions of Yen)

Year Ended
October 31, 2023
49,007
36,832
Year Ended
October 31, 2022
45,742
34,387(Reference) Net assets
Fiscal year ended October 31, 2023: 36,832 million yen
Fiscal year ended October 31, 2022: 34,387 million yen

Net Assets Ratio (B / A)

Net Assets per Share(Percent)

(Yen)

75.2

3,691.32

75.2

3,446.27

(3) Cash Flows (Consolidated)
Net Cash Provided(Used) by Operating
Activities
Year Ended
October 31, 2023
3,512Year Ended
October 31, 2022
(1,739)Net Cash Provided(Used) by Investing
Activities

Net Cash Provided(Used) by Financing
Activities(Millions of Yen)
Consolidated Cashand Cash Equivalent
as of Year-end

(99)

(678)

13,51960(498)

10,732

2. Dividend Status
Dividend per Share (Yen)
SecondEnd ofThird Quarter
Quarter
Fiscal Year
25.00
28.00
00
40.
70.00
00
60.
60.00

First Quarter
Year Ending October 31, 2022
Year Ending October 31, 2023
Year Ending October 31, 2023 (Prospect)

-

Total
53.00
110.00120.00Total Dividend

Dividend Payout Ratio(Consolidated)

Dividend on Equity Ratio(Consolidated)(Millions of Yen)

(Percent)(Percent)

528
1,097

19.9
40.2
40.9

1.6
3.1

Year Ending October 31, 2022
Year Ending October 31, 2023
Year Ending October 31, 2024 (Prospect)

3. Forecast for the Year Ending October 31, 2023 (Consolidated)(Percent: Change from the previous year for the full business year and 6-month period)
Net Sales
Operating Income
Ordinary Income
Full Business Year

(Millions of Yen)

(Percent)(Millions of Yen)

(Percent)(Millions of Yen)

(Percent)

51,800

4.4

4,180

3.3

4,200

2.1

Net Income Attributable to
Owners of the Parent
Full Business YearNet Income per Share(Millions of Yen)

(Percent)

(Yen)

2,930

7.2

293.64Notes(1) Significant changes in subsidiaries during this period (changes in specific subsidiaries involving changes in thescope of consolidation): None
Number of new subsidiaries:(Company names):
Number of eliminated subsidiaries: (Company names):(2) Changes in accounting principles, changes in accounting estimates, and retrospective restatements
1) Changes in accounting principles due to revision of accounting standard: Yes
2) Other changes in accounting principles than the above 1): None
3) Change in accounting estimates: None
4) Retrospective restatements: None
(3) Number of outstanding shares (Common stock)1) Number of outstanding shares at year-end (including treasury stocks)
At October 31, 2023: 10,533,200 shares
At October 31, 2022: 10,533,200 shares
2) Number of treasury stocks at year-end
At October 31, 2023: 554,940 shares
At October 31, 2022: 554,940 shares
3) Number of average shares
At October 31, 2023: 9,978,260 shares
At October 31, 2022: 9,978,269 shares

(Reference) Summary of Non-Consolidated Financial Results
1. Non-Consolidated Financial Results for the Year Ended October 31, 2023
(1) Results of Operation (Non-Consolidated)
Net SalesYear Ended
October 31, 2023
Year Ended
October 31, 2022

(Percent: change from the previous year)
Operating Income
Ordinary Income(Millions of Yen)

(Percent)(Millions of Yen)

(Percent)(Millions of Yen)

(Percent)

44,718

10.7

3,591

21.5

3,819

7.0

40,379

-

2,956

25.3

3,569

39.5

Net Income(Millions of Yen)

Net Income per Share

Fully Diluted Net Income per Share

(Yen)

(Yen)

(Percent)

Year Ended
October 31, 2023
2,756
6.3
276.28Year Ended
October 31, 2022
2,594
31.0
260.01(Note) We have applied Accounting Standard for Revenue Recognition (ASBJ Statement No. 29) such from the beginning of theprevious fiscal year ending October 31, 2022. Because a significant impact on net sales arises, the year-on-year percentage change
in net sales for the fiscal year ending October 31, 2022 is not shown.
(2) Financial Condition (Non-Consolidated)
Total Assets (A) Net Assets (B)(Millions of Yen)

(Millions of Yen)

Year Ended
October 31, 2023
45,672
34,064
Year Ended
October 31, 2022
42,86231,851(Reference) Net assets
Fiscal year ended October 31, 2023: 34,064 million yen
Fiscal year ended October 31, 2022: 31,851 million yen

Net Assets Ratio (B / A)

Net Assets per Share(Percent)

(Yen)

74.6

3,413.87

74.3

3,192.10*This financial report is exempt from the review by certified public accountant or audit firm.
*Explanations for appropriate use of the earnings forecast and other special instructions
The forward-looking statements such as a forecast of our financial results described herein are based on the information
currently available to us and the assumptions that we believe are reasonable. Actual results could differ materially due tovarious factors.
For the operating results forecast, refer to [(4) Outlook for the Next Fiscal Year] of [1. Overview of Operating Results, etc.]
on page 5.

Table of Contents of Accompanying Documents
1. Overview of Operating Results………………………………………………………………………………………..2(1) Overview Concerning Current Operating Results………………………………………………………………....2(2) Overview Concerning Current Financial Condition………………………………………………..…………………3(3) Overview Concerning Current Cash Flow………………………………………………………..……………………3(4) Outlook for the Next Fiscal Year…………………………………………………………………..……………………5(5) Basic Policy for Profit Sharing and Dividends for Fiscal 2023 and 2024………………………………….......6
2. Basic Approach to the Selection of Accounting Standards…………………………..………………………………6
3. Consolidated Financial Statements and Main Notes………………………………………………………………....7(1) Balance Sheets…………………………………………………………………………………………………...7(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income…………….9
Consolidated Statements of Income………………………………………………………………………………....9
Consolidated Statements of Comprehensive Income…………………………………………………………...10(3) Consolidated Statements of Changes in Shareholders' Equity……………………………………………………...11(4) Consolidated Statements of Cash Flows………………………………………………………………………...13(5) Notes for Consolidated Financial Statements…………………………………………………………………..15(Notes for premise of going concern) …………………………………………………………………………...15(Changes in accounting policies) .................................................................................................15(Change in presentation method)………………………………………………………………………………...15(Segment information)……………………………………………………………………………………………...15(Per Share information)………………………………………………………….…………………………………18(Significant subsequent events)………………………………………………………………………………….18
4 Non-Consolidated Financial Statements and Main Notes………….………………………………………………....19(1) Balance Sheets………………………………………………………….…………………………………19(2) Statements of Income………………………………………………………….…………………………………21(3) Statements of Changes in Shareholders' Equity………….………………………………………………....22(4) Notes for Non-Consolidated Financial Statements………………………………………………………………24(Notes for premise of going concern) ……………………………………………………………………………... 24(Changes in accounting policies) ................................................................................................. 24(Per Share information)………………………………………………………….…………………………………24

1

1. Overview of Operating Results(1) Overview Concerning Current Operating Results
During the consolidated fiscal year under review, Japan's economy, after sluggish growth at the beginning of the period,
once recovered, but afterward experienced negative growth against the backdrop of stagnant personal consumption
and depressed capital investment. On the other hand, overseas, the U.S. economy remained strong, the Chinese
economy remained stagnant, and the European economy continued to be weak.
Given these circumstances, net sales for the Tomoe Engineering Group for the consolidated fiscal year underreview increased 8.9% from the previous fiscal year to 49,628 million yen reflecting increased net sales in both
the Machinery & Equipment Business and the Chemical Products Business. With respect to earnings,
operating income increased 22.7% year-on-year to 4,048 million yen, while ordinary income came to 4,115
million yen, increased by 20.3% year-on-year because of profit growth in the Chemical Products Business.
Net income attributable to owners of the parent increased 2.8% year-on-year to 2,733 million yen, reflecting
appropriation of impairment loss in fixed assets of the consolidated subsidiary (Interstellar Plastics (Shenzhen)Co., Ltd. which is engaged in the compounding business in Shenzhen, China, and the negative drop related togain from sales of fixed assets recorded in the previous consolidated fiscal year.
Operating results by segment were as follows.
(Machinery & Equipment Business)
In the Machinery and Equipment Business, net sales for the consolidated fiscal year increased 14.8% year-on-year to
13,041 million yen, reflecting growth in net sales for overseas markets as a whole, and net sales of machinery,components and repair services for domestic market, despite sluggish growth in net sales of equipment andconstruction works for domestic market.
(Millions of Yen)
Equipment andComponents
Product classification
Machinery
construction
and repair
TOTAL
works
services
October, 2022
884
995
2,643
4,523
Public sector

Private sector

Overseas
markets

TOTAL

October, 2023

909

977

2,700

4,586

Difference

24

-18

56

63

October, 2022

562

129

2,201

2,892

October, 2023

704

15

2,212

2,932

Difference

142

-114

10

39

October, 2022

1,595

0

2,344

3,939

October, 2023

2,797

160

2,565

5,522

Difference

1,201

160

220

1,582

October, 2022

3,042

1,124

7,189

11,356

October, 2023

4,411

1,152

7,477

13,041

Difference

1,368

27

288

1,684

With respect to earnings, operating income decreased 8.2% year-on-year to 829 million yen reflecting an increasein SG&A expenses which mainly included higher labor costs, although gross profit increased by growth in sales.

2(Chemical Products Business)
In the Chemical Products Business, net sales for the consolidated fiscal year increased 6.9% year-on-year to 36,587
million yen. This mainly reflected significant growth in net sales of materials for power semiconductors for electricvehicles in the advanced materials sector, net sales of materials mainly for building and motor vehicles in the mineralproducts sector, and net sales of materials mainly for paint and ink applications in the Chemical products sector.
(Millions of Yen)
October, 2022

October, 2023

Difference

Synthetic resin sector

5,274

5,298

24

Industrial materials sector

5,996

5,738

-258

Mineral products sector

4,907

5,630

723

Chemical products sector

8,142

8,573

430

Advanced materials sector

4,207

6,190

1,982

Electronic materials sector

5,451

4,910

-541

252

246

-5

34,23236,587

2,355

Other products (foreign liquor)
Total

With respect to earnings, operating income increased 34.3% year-on-year to 3,218 million yen, because grossprofit increased by growth in sales and this absorbed an increase in SG&A expenses which mainly included higher
labor costs.
(2) Overview Concerning Current Financial Condition
Current assets at the end of the consolidated fiscal year were 39,029 million yen, up 3,049 million from the end of
the previous consolidated fiscal year, reflecting an increase in cash and deposits and electronically recordedmonetary claim, while merchandise and finished goods decreased. Noncurrent assets were 9,977 million yen, up
215 million yen from the end of the previous consolidated fiscal year, because net defined benefit assets increased
while property, plant and equipment decreased.
Liabilities increased 819 million yen from the end of the previous consolidated fiscal year to 12,174 million yen mainly
because provision for bonuses and contract liabilities increased while notes and accounts payable-trade decreased.
Net assets stood at 36,832 million yen, up 2,445 million yen from the end of the previous consolidated fiscal
year.

This mainly reflected an increase in retained earnings recorded under net income attributable toowners of the parent reported at the current consolidated net income.
As a result of the above changes, the equity ratio at the end of the consolidated fiscal year stood at 75.2%, thesame rate at the end of the previous consolidated fiscal year.
(3) Overview Concerning Current Cash Flow
Cash and cash equivalents (“cash”) as of the end of the current consolidated fiscal year increased by 2,786 million
yen from the end of the previous consolidated fiscal year to 13,519 million yen, reflecting positive cash flow provided
by operating activities and expenditures for both investment activities and financing activities. The status of eachconsolidated cash flow and their factors during the current consolidated fiscal year are as follows:3

(Net Cash Provided by (Used in) Operating Activities)
Net cash provided by operating activities in the consolidated fiscal year was 3,512 million yen. This was because
cash provided by income before income taxes of 4,022 million yen, cash retention from depreciation and amortizationof 392 million yen, and the decrease in funds resulting from an increase in inventories of 728 million yen, exceededcash used by income taxes paid of 1,333 million yen and accounts receivable-trade and contract assets of 772
million yen. Net cash provided was 3,512 million yen, compared to 1,739 million yen used in the previous fiscal
year.
(Net Cash Provided by (Used in) Investing Activities)
Net cash used in investing activities in the consolidated fiscal year was 99 million yen. This reflected 155 million
yen cash used in acquisition of property, plant and equipment and in acquisition of intangible assets in 73 million yen,exceeded proceeds from sales of investment securities. Net cash used was 99 million yen, compared to 60 million
yen provided in the previous consolidated fiscal year.
(Net Cash Provided by (Used in) Financing Activities)
Net cash used in financing activities in the consolidated fiscal year was 678 million yen. This mainly reflected
dividend payments of 678 million yen. Net cash used was 179 million yen more than 498 million yen in the previous
fiscal year.
Trends in cash flow indicesYear Ended
October 31,
2019

Year Ended
October 31,
2020

Year Ended
October 31,
2021

Year Ended
October 31,
2022

Year Ended
October 31,
2023

73.9

77.2

73.6

75.2

75.2

60.3

50.4

52.5

51.5

54.3

Debt-repayment to Cash
Flow Ratio (Years)

0.0

0.1

0.0

－

0.0

Interest Coverage Ratio(Percent)

114.8

93.0

884.0

－

2,320.8

Equity Ratio (Percent)
Equity Ratio Based on
Market Value (Percent)

Equity ratio: Net assets/ Total assets
Equity ratio based on market value: Market capitalization of shares / Total assets
Debt-repayment to cash flow ratio: Interest-bearing debt / Cash flow
Interest coverage ratio: Cash flow /Interest payment(Notes)1.

All indices are calculated on the basis of consolidated financial figures.

2.

Market capitalization is calculated based on the number of outstanding shares excluding treasury stock.

3.

Cash flow refers to net cash provided by (used in) operating activities.

4.

Interest-bearing debt refers to all debt reported on the consolidated balance sheet for which interest is
being paid.

5.

The debt-repayment to cash flow ratio and interest coverage ratio for the fiscal year ended October 31,
2022, are not stated because of negative operating cash.

4(4) Outlook for the Next Fiscal Year (November 1, 2023 - October 31, 2024)
In the consolidated fiscal year ending October 31, 2024, the pace of recovery of the Japan’s economy is expected
to remain moderate on factors including the semiconductors shortage, shortage of raw material and components,
soaring resource prices, U.S. inflation concerns, sharp exchange rate fluctuations, the prolonged Russian-Ukrainian
conflict, and the impact of escalating tensions in the Middle East. Against this backdrop, overseas, the U.S.
economy is clearly peaking out, the Chinese economy remains uncertain, and the European economy is expected
to continue to experience low growth.
The Group has formulated a medium-term business plan, "For Sustainable Future" (for the fiscal years ending
October 31, 2023 through October 31, 2025), which concludes in October 31, 2025, and will move forward withvarious initiatives to achieve sustainable growth and enhance corporate value.

Against this backdrop, theconsolidated ordinary income for the fiscal year ending October 31, 2023, the first year of our medium-term businessplan, reached a record high, and we also achieved the consolidated ordinary income target (4 billion yen) for the final
year of the plan. In light of these circumstances, by aggressively upgrading our business strategies, we haverevised upward our targets for the final year of this medium-term business plan (fiscal year ending October 31, 2025)
to consolidated net sales of 54 billion yen, ordinary income of 4.4 billion yen, and ROE of 8.0%, aiming to achieve a
1x P/B ratio.
In the Machinery & Equipment Business, following the U.S. and China, we will accelerate the location expansion inIndia and Southeast Asia to build a sales network covering all major markets and strengthen sales force. At thesame time, we will improve optimization of procurement costs by expanding raw material procurement routes fromthe countries and regions covered by each location.
Furthermore, as part of our efforts to address the SDGs and decarbonization, we will achieve sales of equipmentthat leads to reduction of environmental impact by renewable energy sources, such as binary power generationequipment, and strengthen overseas procurement of new products and merchandises, which will be our third pillarof the project. As a result of these efforts, net sales for the consolidated fiscal year ending October 31, 2024, areprojected to increase 11.2% year-on-year to 14,500 million yen. Operating income is expected to increase 20.6%
year-on-year to 1,000 million yen reflecting the effect of higher revenue, despite an anticipated increase in SG&A expenses
due to higher personnel expenses and research and development costs that will be necessary for future growth.
In the Chemical Products Business, we will focus on expanding business in Southeast Asia, centered on Thailand,also expanding business in European countries from our business location in the Czech Republic, and finding new
suppliers. In addition, we will develop and procure materials that meet market needs to ensure a stable supply to
our customers, as the whole industry will be facing major shortage of materials for power devices that will be in great
demand worldwide for use of electric vehicles and other products.
Furthermore, with an emphasis on sustainability, we will promote the launch of new businesses linked to the SDGs anddecarbonization, including efforts to develop and explore the life science field in addition to the industrial product field.
As a result of these efforts, for the Tomoe Engineering Group in the consolidated fiscal year ending October 31, 2024 we
project net sales of 51,800 million yen, up 4.4% year-on-year, operating income of 4,180 million yen, up 3.3% year-onyear, ordinary income of 4,200 million yen, up 2.1% year-on-year, and net income attributable to the shareholders of theparent company of 2,930 million yen, up 7.2% year-on-year.
The operating results forecasts for the next period described above are based on information available to theCompany at the time the forecasts were prepared and assumptions judged to be reasonable. Actual operating
results might differ from these forecasts depending upon changes in domestic and international financial andeconomic conditions, the supply and demand situation, various risk factors and other uncertainties.

5(5) Basic Policy for Profit Sharing and Dividends for Fiscal 2023 and 2024
We consider that the sharing of profit to shareholders is one of our top business priorities, and our dividend policy
for the current mid-term business plan period (fiscal year ending October 31, 2023 - fiscal year ending October 31,2025) is as follows.
[New Dividend Policy]
While maintaining a sound financial position, we will pay stable dividends with a target payout ratio of 40% or more,taking into account the medium- to long-term business outlook, business strategy, and other factors.
Based on this policy, we plan to pay a dividend of 70 yen per share (110 yen per share for the full year), an increaseof 30 yen per share at the end of the consolidated fiscal year ending on October 31, 2023, taking into consideration
our financial position, performance for the current fiscal year, and future prospects.
In the same manner, we plan to increase the annual dividend forecast for the fiscal year ending October 31, 2024
to 120 yen per share (including an interim dividend of 60 yen per share) in order to share profits to our shareholders,taking into consideration our financial position and consolidated performance outlook.

2. Basic Approach to the Selection of Accounting Standards
At the present time the Tomoe Engineering Group has adopted Japan GAAP, based on factors such as comparability
between firms, and the Group’s policy concerning the application of IFRS will be to respond while referring to outside
trends and other considerations.

63. Consolidated Financial Statements and Main Notes(1) Balance Sheets(Thousands of Yen)
AssetsYear Ended October 31, 2022

Year Ended October 31, 2023

10,732,583

13,519,519

13,297,252

13,053,566

Electronically Recorded Monetary Claims

3,466,717

4,534,946

Merchandise and Finished Goods

5,839,927

5,023,516

Work in Process

1,282,752

1,413,836

Raw Materials and Supplies

1,120,659

1,118,239

Others323,406

442,065

Allowance for Doubtful Accounts
Total Current Assets-83,122-75,966

35,980,178

39,029,723

5,144,878

5,142,178

Accumulated Depreciation-2,209,570-2,361,073

Buildings and Structures, Net

2,935,308

2,781,104

Machinery, Equipment and Vehicles

4,298,347

4,276,421-3,820,079-3,947,522

478,268

328,898

2,304,010

2,304,322

17,347－

1,139,081

1,173,898-1,049,820-1,093,060

89,261

80,837

5,824,196

5,495,162

86,835

135,706

Investment Securities

1,306,889

1,461,804

Guarantee Deposits

563,224555,604

1,908,244

2,235,326

Deferred Tax Assets

6,291

11,981Others

88,304103,258

Allowance for Doubtful Accounts-21,892-21,551

Total Investments and Other Assets

3,851,061

4,346,423

Total Noncurrent Assets

9,762,093

9,977,293

Total Assets

45,742,272

49,007,016

Current Assets
Cash and Deposits
Notes, Accounts Receivable-Trade and Contract
AssetsNoncurrent Assets
Property, Plant and Equipment
Buildings and Structures

Accumulated Depreciation
Machinery, Equipment and Vehicles, Net
Land
Construction in progress
Others
Accumulated Depreciation
Others, Net
Total Property, Plant and Equipment
Intangible Assets
Investments and Other Assets

Net Defined Benefit Assets7

(Thousands of Yen)
Liabilities and Net Assets

Year Ended October 31, 2022

Year Ended October 31, 2023

Notes and Accounts Payable-Trade

4,582,839

4,348,081

Electronically Recorded Monetary Debt

2,238,380

2,286,828

Accounts Payable-Others

744,644808,811

Income Taxes Payable

769,585

731,645

Contract Liabilities

291,848

483,376

1,507,631

1,791,344

Provision for Directors' Bonuses

103,889

110,816

Allowance for Product Warranty

200,287

190,085

Others236,306

608,366

10,675,412

11,359,356

Noncurrent Liabilities
Provision for Directors' Retirement Benefits

5,460

－

Net Defined Benefit Liabilities

74,12086,239Deferred Tax Liabilities

599,474

728,469

Total Noncurrent Liabilities

679,055

814,709

Total Liabilities

11,354,468

12,174,065

Capital Stock

1,061,210

1,061,210

Capital Surplus

1,483,410

1,483,410

Retained Earnings

30,882,276

32,018,940

Treasury Stock-364,148-364,148

Total Shareholders’ Equity

33,062,747

35,117,778

Accumulated Other Comprehensive Income
Valuation Difference on Available-for-Sale
Securities
Deferred Gains or Losses on Hedges

362,745

505,132

11,6373,928

Foreign Currency Translation Adjustment

801,149

904,168

Total Adjustment on Net Defined Benefit

149,523

301,944

Total Accumulated Other Comprehensive Income

1,325,056

1,715,173

Total Net Assets

34,387,804

36,832,951

Total Liabilities and Net Assets

45,742,272

49,007,016

Liabilities
Current Liabilities

Provision for Bonuses

Total Current Liabilities

Net Assets
Shareholders’ Equity8(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive
IncomeConsolidated Statements of Income(Thousands of Yen)
Year Ended October 31, 2022

Year Ended October 31, 2023

Net Sales

45,588,955

49,628,889

Cost of Sales

34,495,083

37,083,894

Gross Profit

11,093,872

12,544,994

Selling, General and Administrative Expenses

7,794,015

8,496,959

Operating Income

3,299,857

4,048,035

Interest income

2,898

19,485

Dividends Income

44,33049,312Rent Income

7,641

8,030

Foreign Exchange Gain

41,347－

Others42,79340,691

139,011

117,519

Interest Expenses

5,024

1,600

Commission Paid

9,000

9,000

Guarantee Commission

1,816

1,455

Foreign Exchange Loss－

37,034

1,145

1,445

Total Non-Operating Expenses

16,98550,537

Ordinary Income

3,421,883

4,115,017

Profit on Sales of Noncurrent Assets

460,715－

Profit on Sales of Investment Securities

6,772

85,615

467,488

85,615－

178,207

Loss on Retirement of Noncurrent Assets

4,368

－

Total Extraordinary Losses

4,368

178,207

Income before Income Taxes

3,885,003

4,022,426

Income Taxes-Current

1,198,064

1,293,280

Income Taxes-Deferred

27,444-4,406

Total Income Taxes

1,225,509

1,288,874

Net Income
Net Income Attributable to
Owners of the Parent

2,659,494

2,733,551

2,659,494

2,733,551

Non-Operating Income

Total Non-Operating Income
Non-Operating Expenses

OthersExtraordinary Profits

Total Extraordinary Profits
Extraordinary Losses
Impairment Loss

9

Consolidated Statements of Comprehensive Income(Thousands of Yen)
Year Ended October 31,

Year Ended October 31,

2022

2023
2,659,494

2,733,551-88,140

142,386

Deferred Gains or Losses on Hedges

3,852-7,709Foreign Currency Translation Adjustment

587,307

103,018

Adjustment on Net Defined Benefit-117,182

152,421

Total Other Comprehensive Income

385,836

390,117Comprehensive Income

3,045,330

3,123,668(Breakdown)Comprehensive Income Attributable to Owners of the
Parent3,045,330

3,123,668

Net Income
Other Comprehensive Income
Valuation Difference on Available-for-sale Securities10(3) Consolidated Statements of Changes in Shareholders' Equity
Previous Consolidated Fiscal Year (Year Ended October 31, 2022)(Thousands of Yen)
Shareholders' Equity

Surplus during Previous
Fiscal Year
Changes during This
Fiscal Year
Cash Dividend Paid
Net Income Attributable to
Owners of the Parent
Acquisition of Treasury
Stock
Total (Net) Amount
Changed (Except
Shareholders' Equity)
Total Amount Changed
Surplus during This Fiscal
Year

CommonStockCapitalSurplusRetained
Earnings

1,061,210

1,483,410

28,721,695

Issued Shares
Reacquired-364,081

Total Net
Assets30,902,234-498,913-498,913

2,659,494

2,659,494
-66

-66

－

－

2,160,580-66

2,160,513

1,061,210

1,483,410

30,882,276-364,148

33,062,747

Accumulated Other Comprehensive Income
Valuation
Difference on
Available-for-sale
Securities

Surplus during Previous
Fiscal Year
Changes during This
Fiscal Year
Cash Dividend Paid
Net Income Attributableto Owners of the Parent
Acquisition of Treasury
Stock
Total (Net) Amount
Changed (Except
Shareholders' Equity)
Total Amount Changed
Surplus during This
Fiscal Year

450,885

Deferred
Gains or
Losses on
Hedges7,785

Foreign
Currency
Translation
Adjustment

213,842

Total Net
DefinedBenefit266,705

Total Other
Comprehensiv
e Income

939,220

Total Net
Assets31,841,454-498,913
2,659,494-66-88,140

3,852

587,307-117,182

385,836

385,836-88,140

3,852

587,307-117,182

385,8362,546,349

362,745

11,637801,149

149,523

1,325,056

34,387,804

11

Current Consolidated Fiscal Year (Year Ended October 31, 2023)(Thousands of Yen)
Shareholders' Equity

Surplus during Previous
Fiscal Year
Changes during This
Fiscal Year
Cash Dividend Paid
Net Income Attributable to
Owners of the Parent
Acquisition of Treasury
Stock
Total (Net) Amount
Changed (Except
Shareholders' Equity)
Total Amount Changed
Surplus during This Fiscal
Year

CommonStockCapitalSurplusRetained
Earnings

1,061,210

1,483,410

30,882,276

Issued Shares
Reacquired-364,148

Total Net
Assets
33,062,747-678,521-678,521

2,733,551

2,733,551－－－

2,055,030－

2,055,030

1,061,210

1,483,410

32,937,306-364,148

35,117,778

Accumulated Other Comprehensive Income
Valuation
Difference on
Available-for-sale
Securities

Surplus during Previous
Fiscal Year
Changes during This
Fiscal Year
Cash Dividend Paid
Net Income Attributableto Owners of the Parent
Acquisition of Treasury
Stock
Total (Net) Amount
Changed (Except
Shareholders' Equity)
Total Amount Changed
Surplus during This
Fiscal Year362,745

Deferred
Gains or
Losses on
Hedges

11,637

Foreign
Currency
Translation
Adjustment

801,149

Total Net
DefinedBenefit

149,523

Total Other
Comprehensiv
e Income

1,325,056

Total Net
Assets34,387,804-678,521
2,733,551－

142,386-7,700103,018

152,421390,117

390,117

142,386-7,700103,018

152,421390,117

2,445,147

505,132

3,928

904,168

301,944

1,715,173

36,832,951

12

(4) Consolidated Statements of Cash Flows(Thousands of Yen)
Year EndedYear Ended

October 31, 2022

October 31, 2023

Net Cash Provided by (Used in) Operating Activities
3,885,003

4,022,426

Depreciation and Amortization

376,133

392,621

Increase (Decrease) in Provision for Bonuses

97,204

283,021

Increase (Decrease) in Provision for Directors' Bonuses

22,9106,927

Increase (Decrease) in Allowance for Product Warranty
Increase (Decrease) in Net Defined Benefit Liability(162,983)(10,202)

6,348

12,118Decrease (Increase ) in Net Defined Benefit Asset(55,794)(57,477)－(5,460)159(10,184)(47,229)(68,798)

5,024

1,600

Foreign Exchange Losses (Gains)(76,347)(17,504)

Loss (Gain) on Sales of Investment Securities(6,772)(85,615)－

178,207(1,529,064)(772,727)(2,405,711)

728,520

Decrease (Increase) in Advance Payment

43,228(202,123)

Increase (Decrease) in Notes and Accounts Payable-Trade

123,878(217,528)

Loss (Gain) on Sales of Noncurrent Assets(460,715)－

Loss on Retirement of Noncurrent Assets

4,368

－

Increase (Decrease) in Accounts Payable-Others

69,382

10,782

Increase (Decrease) in Contract Liabilities(22,116)

190,247

Increase (Decrease) in Unpaid Consumption Tax(355,681)

524,250

Others, Net(90,771)(123,723)(579,545)

4,779,378

Interests and Dividends Income Received

46,354

68,263

Interest Expenses Paid

(5,024)(1,600)(1,201,371)(1,333,788)(1,739,586)

3,512,252

Income before Income Taxes and Minority Interests

Increase (Decrease) in Provision for Directors' Retirement
Benefits
Increase (Decrease) in Allowance for Doubtful Accounts
Interests and Dividends Income
Interest Expenses

Impairment Loss
Decrease (Increase) in Notes, Accounts Receivable-Tradeand Contract Assets
Decrease (Increase) in Inventories

Sub total

Income Taxes Returned (Paid)
Net Cash Provided by (Used in) Operating Activities

13

(Thousands of Yen)
Year EndedYear Ended

October 31, 2022

October 31, 2023

Net Cash Provided by (Used in) Investment Activities
Disbursement to Time Deposits(8,000,000)(4,200,000)

Proceeds from Withdrawal of Time Deposits

8,000,000

4,200,000

Purchase of Property, Plant and Equipment(240,384)(155,872)

Proceeds from Sales of Property, Plant and Equipment

496,002－

Purchase of Intangible Fixed Assets(39,571)(73,946)

Purchase of Investment Securities(14,591)(1,525)

Proceeds from Sales of Investment Securities

12,484

138,457

Payments of Loans Receivable(1,080)(6,246)

Collection of Loans Receivable

970

5,076

Guarantee Deposits (Increase)(150,253)

9,121

Others, Net(3,095)(14,078)

Net Cash Provided by (Used in) Investment Activities

60,48099,014(66)－(498,913)(678,521)(498,980)(678,521)

303,179

52,218Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Period(1,874,906)

2,786,935

12,607,490

10,732,583

Cash and Cash Equivalents at End of This Fiscal Year

10,732,583

13,519,519

Net Cash Provided by (Used in) Financing Activities
Acquisition of Treasury Stock
Cash Dividends Paid
Net Cash Provided by (Used in) Financing Activities
Cash and Cash Equivalents
Effect of Exchange Rate Change on Cash and Cash
Equivalents

14(5) Notes for Consolidated Financial Statements(Notes for premise of going concern)
There are no pertinent matters to report.
(Changes in accounting policies)(Application of Accounting Standard Application Guidelines for Fair Value Measurement)
We have applied Accounting Standard Application Guidelines for Fair Value Measurement (ASBJ Statement No. 31;
hereinafter referred to as Accounting Standard Application Guidelines for Fair Value Measurement) from the beginningof the consolidated fiscal year under review, and in compliance with the transitional treatment prescribed in Article 272 of Accounting Standard Application Guidelines for Fair Value Measurement, we will in the future apply the new
accounting policy prescribed by Accounting Standard Application Guidelines for Fair Value Measurement.
Furthermore, there is no effect on the consolidated financial statements.
(Changes in presentation method)(Consolidated statement of cash flow)
Since increase (decrease) in advance payment, which was included in others, net under net cash provided by (used in)operating activities in the previous consolidated fiscal year, increased in quantitative materiality, we present it separately
beginning from the consolidated fiscal year under review. To reflect the change in this presentation method, we have
performed a reclassification of the consolidated financial statements for the previous consolidated fiscal year.
As a result, we have reclassified the (47,543,000) yen shown in others, net under net cash provided by (used in)operating activities in the consolidated statement of cash flows for the previous consolidated fiscal year as 43,228,000
yen in increase (decrease) in advance payment and (90,771,000) yen in others, net.
(Segment information)
1. Summary of reporting segments
TOMOE Engineering Co., Ltd. has established two operational headquarters. These operational headquarters aredeveloping their business activities by planning comprehensive domestic and overseas strategies for the respective
manufactured and commercial products they handle.
We therefore have assumed these two businesses, referred to as the “Machinery & Equipment Business” and the“Chemical Products Business”, as our company reporting segments. The Machinery & Equipment Business mainly
manufactures and sells centrifuge decanters, and the Chemical Products Business mainly manufactures, stocks andsells chemical industry products.
The Company’s reporting segments are those units of the Company’s for which discrete financial information is available
and for which the Board of Directors regularly conducts a review for the purpose of making decisions about resources
to be allocated to the segments and assess the segments' performance.
2. Method for calculating amounts of net sales, income or loss, assets, liabilities and other items for each reporting
segment
The accounting methods for reporting segments are identical to the accounting methods adopted for preparation of theconsolidated financial statements.

15

3. Information concerning the amount of net sales, income or loss, assets, liabilities and other items for each reporting
segment
Previous Consolidated Fiscal Year (Year Ended October 31, 2022)
Amount of
Adjustment
Note 1

Reporting segment
Machinery &Equipment
Business
Sales
Sales to Unaffiliated Customers
Internal Sales Among Segments
or Amount Transferred
Total
Segment Income(Thousands of Yen)
Consolidated
Financial
Statements
Reported
AmountChemical
Products
Business

Total

11,356,602

34,232,353

45,588,955－

45,588,955

－

－

－

－

－

11,356,602

34,232,353

45,588,955－

45,588,955

903,091

2,396,765

3,299,857－

3,299,857

Segment Assets
10,121,315
23,580,482
33,701,798 12,040,473
45,742,272
Other Items
286,660
89,473376,133－
376,133
Depreciation & Amortization
Increase in Property, Plant &141,245
122,948
264,194－
264,194
Equipment and Intangible Assets(Notes) 1. The adjustment amount for segment assets is the assets of the entire company that cannot be allocated to eachreporting segment, and is mainly idle operating funds (cash on hand and in banks), long-term investments(investment securities) and assets acquired in relation to a district redevelopment project.
2. The total amount for segment income agrees with the operating income reported on the Consolidated Statementof Income.
Current Consolidated Fiscal Year (Year Ended October 31, 2023)(Thousands of Yen)
Consolidated
Amount of
Financial
Adjustment
Statements
Note 1
Reported
AmountReporting segment
Machinery &Equipment
Business
Sales
Sales to Unaffiliated Customers
Internal Sales Among Segments
or Amount Transferred
Total

Chemical
Products
Business

Total

13,041,426

36,587,463

49,628,889－

49,628,889

－

－

－

－

－

13,041,426

36,587,463

49,628,889－

49,628,889

Segment Income

829,244
3,218,791
4,048,035－
4,048,035
Segment Assets
10,965,168
23,059,524
34,024,693 14,982,323
49,007,016
Other Items
282,546
110,075
392,621－392,621
Depreciation & Amortization
Increase in Property, Plant &192,062
89,401
281,463－281,463
Equipment and Intangible Assets(Notes) 1. The adjustment amount for segment assets is the assets of the entire company that cannot be allocated to eachreporting segment, and is mainly idle operating funds (cash on hand and in banks), long-term investments(investment securities) and assets acquired in relation to a district redevelopment project.
2. The total amount for segment income agrees with the operating income reported on the Consolidated Statementof Income.

16

(Related information)
Previous Consolidated Fiscal Year (Year Ended October 31, 2022)
1. Information by product and service
The Company has omitted a description of information by product and service because this same information is disclosed
in segment information.
2. Regional Information
1. Net Sales
Japan
35,209,128(Thousands of Yen)Asia
8,698,369

Others1,681,457

Total
45,588,955(Note)Net sales are classified by country or region based on the customer’s location.
2. Property, Plant and Equipment
Japan5,366,341

Asia
314,545(Thousands of Yen)
Others143,309

Total
5,824,196

3. Main Customer Information
The Company has omitted a description of sales to outside customers because there are no customers to which sales
account for more than 10% of the net sales reported in the Consolidated Statements of Income.
Current Consolidated Fiscal Year (Year Ended October 31, 2023)
1. Information by product and service
The Company has omitted a description of information by product and service because this same information is disclosed
in segment information.
2. Regional Information
1. Net Sales
Japan
38,844,772(Thousands of Yen)Asia
9,007,105

Others
1,777,010

Total
49,628,889(Note) Net sales are classified by country or region based on the customer’s location.
2. Property, Plant and Equipment
Japan

Asia

5,264,482

90,471(Thousands of Yen)
OthersTotal

140,208

5,495,162

3. Main Customer Information
The Company has omitted a description of sales to outside customers because there are no customers to which sales
account for more than 10% of the net sales reported in the Consolidated Statements of Income.

17

(Information concerning impairment losses on fixed assets by reporting segment)(Thousands of Yen)
Reporting segment
Machinery &Equipment Business

Chemical Products
Business－

178,207

Impairment Losses

Wholecompany –Elimination

Total
178,207－

Total
178,207(Information concerning amortization of goodwill and unamortized balances by reporting segment)
There are no pertinent matters to report.
(Information concerning gain on negative goodwill by reporting segment)
There are no pertinent matters to report.
(Per Share Information)
Year Ended
October 31, 2022
Net Asset per Share¥3,446.27

Year Ended
October 31, 2023
¥3,691.32

Net Income per Share¥266.53¥273.95(Note 1) Income per share for this fiscal year after adjustment of the residual securities is not presented as there are noresidual securities.
(Note 2) Calculation basis for net income per share are as follows:Year Ended
October 31, 2022

Year Ended
October 31, 2023

Net Income for this Fiscal Year (thousands of yen)

2,659,494

2,733,551

Net Income for Common Stock (thousands of yen)

2,659,494

2,733,551

Average number of Common Stock during the Fiscal Year9,978,269

9,978,260(Note3) Calculation basis for net asset per share are as follows:Year Ended
October 31, 2022
Total for Net Asset in Consolidated Balance Sheet(thousands of yen)
Net Asset for Common Stock (thousands of yen)
Number of Common Stock used for calculation of Net Assets
per Share (share)(Significant subsequent events)
None

18

Year Ended
October 31, 2023

34,387,804

36,832,951

34,387,804

36,832,951

9,978,260

9,978,260

4. Non-Consolidated Financial Statements and Main Notes(1) Balance Sheets(Thousands of Yen)
AssetsYear Ended October 31, 2022

Year Ended October 31, 2023

8,384,075

10,602,158

722,388

693,084

Electronically Recorded Monetary Claims

3,461,987

4,523,633

Accounts Receivable-Trade and Contract Assets

11,580,688

11,579,707

Merchandise and Finished Goods

5,104,603

4,363,166

Work in Process

1,134,347

1,241,624

Raw Materials and Supplies

1,078,668

1,062,437

Short-term Loans Receivable

89,688

1,160

Others254,749

322,164-1,588-1,68431,809,608

34,387,452

Buildings

2,654,372

2,561,899

Structures

18,912

16,834

Machinery, Equipment

261,851

267,518－－

70,497

68,155Land

2,250,181

2,250,181

Total Property, Plant and Equipment

5,255,816

5,164,589

Telephone Subscription Right

8,165

8,165

Software60,660125,214

Software in Progress

9,250

－

Total Intangible Assets

78,076

133,380

Investment Securities

1,272,889

1,427,804

Shares of Subsidiaries and Affiliates

Current Assets
Cash and Deposits
Notes

Allowance for Doubtful Accounts
Total Current Assets
Noncurrent Assets
Property, Plant and Equipment

VehiclesTools, Furniture and Fixtures

Intangible Assets

Investments and Other Assets
1,574,120

1,574,120

Investments in Subsidiaries and Affiliates

672,810

672,810Long-term Loans Receivable

12,69913,504

Guarantee Deposits

503,446

501,727

Prepaid Pension Cost

1,646,725

1,747,070

Others58,63971,109Allowance for Doubtful Accounts-21,892-21,551

Total Investments and Other Assets

5,719,437

5,986,596

11,053,330

11,284,565

42,862,939

45,672,018

Total Noncurrent Assets
Total Assets

19

(Thousands of Yen)
Liabilities and Net Assets

Year Ended October 31, 2022

Year Ended October 31, 2023

32,127

10,669

Electronically Recorded Monetary Debt

2,144,276

2,194,679

Accounts Payable-Trade4,206,277

3,988,578

Short-term Loans Payable

518,980

523,320

Accounts Payable-Others699,288760,065

Income Taxes Payable

737,676

661,505

Contract Liabilities

243,364

364,356

1,394,299

1,662,128

Provision for Directors' Bonuses

96,550102,777

Allowance for Product Warranty

200,287

190,085

Others173,121572,379

10,446,248

11,030,545

Noncurrent Liabilities
Net Defined Benefit Liabilities

21,96826,919Provision for Directors' Retirement Benefits

5,460

－

537,704

550,034

Total Noncurrent Liabilities

565,132

576,954

Total Liabilities

11,011,381

11,607,499

1,061,210

1,061,210

1,483,410

1,483,410

1,483,410

1,483,410

230,000

230,000

250,000

250,000

Contingent Reserve

25,830,000

27,830,000

Deferred Retained Earnings

2,986,703

3,064,986

29,296,703

31,374,986-364,148-364,148

Total Shareholders’ Equity

31,477,174

33,555,457

Valuation and Translation Adjustments
Valuation Difference on Available-for-Sale
Securities
Deferred Gains or Losses on Hedges

362,745

505,132

11,637

3,928

374,383

509,060

Total Net Assets

31,851,557

34,064,518

Total Liabilities and Net Assets

42,862,939

45,672,018

Liabilities
Current Liabilities
Notes

Provision for Bonuses

Total Current Liabilities

Deferred Tax Liabilities

Net Assets
Shareholders’ Equity
Capital Stock
Capital Surplus
Capital Surplus
Total Capital Surplus
Retained Earnings
Retained Earnings
Other Retained Earnings
Reserve for Dividend Payments

Total Retained Earnings
Treasury Stock

Total Valuation and Translation Adjustments20(2) Non-Consolidated Statements of Income(Thousands of Yen)
Year Ended October 31, 2022

Year Ended October 31, 2023

Net Sales

40,379,788

44,718,787

Cost of Sales

30,479,227

33,549,471

Gross Profit

9,900,560

11,169,316

Selling, General and Administrative Expenses

6,943,804

7,578,175

Operating Income

2,956,756

3,591,140

Interest income

6,684

14,625

Dividends Income

91,095

189,451

Rent Income

60,90960,907

Reversal of Allowance for Doubtful Accounts

335,000

6

Foreign Exchange Gain

111,914－

Others46,43739,058652,039

304,050

Interest Expenses

8,378

14,666

Rental Costs

19,63020,024

Commission Paid

9,000

9,000

－

29,333

2,604

2,268

Total Non-Operating Expenses

39,61375,293

Ordinary Income

3,569,181

3,819,897

Profit on Sales of Noncurrent Assets

456,447－

Profit on Sales of Investment Securities

6,772

85,615463,220

85,6153,701－

267,149－

270,850－

Income before Income Taxes

3,761,550

3,905,512

Income Taxes-Current

1,144,461

1,196,819

Income Taxes-Deferred

22,612-48,111

Total Income Taxes

1,167,074

1,148,707

Net Income

2,594,476

2,756,804

Non-Operating Income

Total Non-Operating Income
Non-Operating Expenses

Foreign Exchange Loss
OthersExtraordinary Profits

Total Extraordinary Profits
Extraordinary Losses
Loss on Disposal of Fixed Assets
Loss on Valuation of Stocks of Subsidiaries
and Affiliates
Total Extraordinary Losses

21

(3) Non-Consolidated Statements of Changes in Shareholders' Equity
Previous Non-Consolidated Fiscal Year (Year Ended October 31, 2022)(Thousands of Yen)
Shareholders' Equity
CapitalSurplus
CommonStock

Surplus during
Previous Fiscal
Year
Changes during
This Fiscal Year
Reversal of
Reserve for
Reduction of
Fixed Assets
Provision of
Separate
Reserve Fund
Cash Dividend
Paid
Net Income
Attributable to
Owners of the
ParentAcquisition ofTreasury Stock
Total (Net)
AmountChanged(Except
Shareholders'Equity)Total Amount
Changed
Surplus during
This Fiscal Year

1,061,210

Retained Earnings
Other Retained Earnings

CapitalSurplusRetained
Earnings

Reservefor
Dividend
Payments

1,483,410

230,000

250,000

Allowance
for Fixed
AssetsContingent
Reserve

Deferred
Retained
Earnings

Total
Retained
Earnings

16,71324,330,000

2,374,426

27,201,140

16,713－-1,500,000－-498,913-498,913

2,594,476

2,594,476-16,7131,500,000

－

－

－

－

-16,7131,500,000

612,277

2,095,563

1,061,210

1,483,410

230,000

250,000－

25,830,000

2,986,703

29,296,703

22

(Thousands of Yen)
Shareholders’ Equity

Surplus during Previous
Fiscal Year
Changes during This
Fiscal Year
Reversal of Reserve for
Reduction of Fixed Assets
Provision of Separate
Reserve Fund

Treasury Stock

Total
Shareholders’Equity-364,081

29,381,678

450,885

Cash Dividend Paid
Net Income Attributable to
Owners of the Parent
Acquisition of Treasury
Stock
Total (Net) Amount
Changed (Except
Shareholders' Equity)
Total Amount Changed
Surplus during This Fiscal
Year

Valuation and Translation Adjustments
Valuation
Difference on
Available-forsale
Securities-66

Deferred
Gains or
Losses on
Hedges7,785

Total
Valuation andTranslation
Adjustments
458,671

Total Net Assets

29,840,350

－

－

－

－

-498,913-498,913

2,594,476

2,594,476-66-66-88,140

3,852-84,288-84,288-66

2,095,496-88,140

3,852-84,288-84,288-364,148

31,477,174

362,745

11,637374,383

31,851,557

23

Non-Current Consolidated Fiscal Year (Year Ended October 31, 2023)(Thousands of Yen)
Shareholders' Equity
CapitalSurplus
CommonStock

Surplus during
Previous Fiscal
Year
Changes during
This Fiscal Year
Reversal of
Reserve for
Reduction of
Fixed Assets
Provision of
Separate
Reserve Fund
Cash Dividend
Paid
Net Income
Attributable to
Owners of the
ParentAcquisition ofTreasury Stock
Total (Net)
AmountChanged(Except
Shareholders'Equity)Total Amount
Changed
Surplus during
This Fiscal Year

1,061,210

Retained Earnings
Other Retained Earnings

CapitalSurplusRetained
Earnings

Reservefor
Dividend
Payments

1,483,410

230,000

250,000

Allowance
for Fixed
AssetsContingent
Reserve

Deferred
Retained
Earnings

Total
Retained
Earnings－

25,830,000

2,986,703

29,296,703－

2,000,000-2,000,000－-678,521-678,521

2,756,804

2,756,804

－

－

－

－

－

2,000,000

78,283

2,078,283

1,061,210

1,483,410

230,000

250,000－

27,830,000

3,064,986

31,374,986

24

(Thousands of Yen)
Shareholders’ Equity

Surplus during Previous
Fiscal Year
Changes during This
Fiscal Year
Reversal of Reserve for
Reduction of Fixed Assets
Provision of Separate
Reserve Fund

Treasury Stock

Total
Shareholders’Equity-364,148

31,477,174

362,745

Cash Dividend Paid
Net Income Attributable to
Owners of the Parent
Acquisition of Treasury
Stock
Total (Net) Amount
Changed (Except
Shareholders' Equity)
Total Amount Changed
Surplus during This Fiscal
Year

Valuation and Translation Adjustments
Valuation
Difference on
Available-forsale
Securities

Deferred
Gains or
Losses on
Hedges
11,637

Total
Valuation andTranslation
Adjustments
374,383

Total Net Assets

31,851,557

－

－

－

－

-678,521-678,521

2,756,804

2,756,804－－
142,386-7,709134,677

134,677－

2,078,283

142,386-7,709134,677

2,212,960-364,148

33,555,457

505,132

3,928

509,060

34,064,518

25

(4) Notes for Non-Consolidated Financial Statements(Notes for premise of going concern)
There are no pertinent matters to report.
(Changes in accounting policies)(Application of Accounting Standard Application Guidelines for Fair Value Measurement)
We have applied Accounting Standard Application Guidelines for Fair Value Measurement (ASBJ Statement No. 31;
hereinafter referred to as Accounting Standard Application Guidelines for Fair Value Measurement) from the beginningof the consolidated fiscal year under review, and in compliance with the transitional treatment prescribed in Article 272 of Accounting Standard Application Guidelines for Fair Value Measurement, we will in the future apply the new
accounting policy prescribed by Accounting Standard Application Guidelines for Fair Value Measurement.
Furthermore, there is no effect on the consolidated financial statements.
(Per Share Information)
Year Ended
October 31, 2022
Net Asset per Share¥3,192.10

Year Ended
October 31, 2023
¥3,413.87

Net Income per Share¥260.01¥276.28(Note 1) Income per share for this fiscal year after adjustment of the residual securities is not presented as there are noresidual securities.
(Note 2) Calculation basis for net income per share are as follows:Year Ended
October 31, 2022

Year Ended
October 31, 2023

Net Income for this Fiscal Year (thousands of yen)

2,594,476

2,756,804

Net Income for Common Stock (thousands of yen)

2,594,476

2,756,804

Average number of Common Stock during the Fiscal Year9,978,269

9,978,260(Note3) Calculation basis for net asset per share are as follows:Year Ended
October 31, 2022
Total for Net Asset in Non-Consolidated Balance Sheet(thousands of yen)
Net Asset for Common Stock (thousands of yen)
Number of Common Stock used for calculation of Net Assets
per Share (share)

26

Year Ended
October 31, 2023

31,851,557

34,064,518

31,851,557

34,064,518

9,978,260

9,978,260