Financial Results for FY2022 andMid-term Business Plan Briefing
The 99th period：Apr. 1st, 2022- Mar. 31st, 2023

May 10, 2023

Contents

１．FY2022 Financial Performance
２．Financial Forecast (FY2023)

Cautionary Statement with Respect to Forward-Looking Statements
These materials contain forward-looking statements that reflect our current expectations. These forward-looking
statements are not guarantees of future performance. It involves any risk depending on the Japanese orinternational economic situation, business trends related to our company, fluctuation of exchange rates and otherfactors. It may cause our actual performance to be materially different from any future results announced.

2/18

1-1 FY2022 Consolidated Financial Summary
Increase in sales and reached a record high, decrease in income due tohigher costs of materials, etc.
（100 millions of yen, ％）FY2021Q4 Cumulative
ResultFY2022Q4 Cumulative
ResultResultYoY rate
Q4 Cumulative Result

ResultRecordResultGain&Loss% Change

Gain&Loss% Change

1,912+34＋7.7+267＋16.3＋21.4△14△13.6－△1.6P－Sales444

1,644478

Operating Income291073692+66.7%

6.5%

7.5%

4.9%+0.8P

4514646132+110.3%

8.9%

9.8%

6.9%

△0.5P

Net income attributable toowners parent

2498

3193+6Quarterly Net Income margin

5.4%

6.0%

6.5%

4.9%

+1.1P

－

△1.1P

－

Average exchange rate（U.S. dollars）¥115.4¥112.1¥133.3¥134.9¥17.9－¥22.8－

Operating Income Ratio

Ordinary Income
Ordinary Income Ratio

High＋2.5－＋29.1△14△2.0P△5△9.6－△5.1• FY2022 Sales includes YoY decrease 5.1billion in FY2022 Q4 due to the impact of increased customer-received steel materials forstamping. No impact on income.

3/18

1-2 Analysis of Consolidated Sales
Record high sales due to yen depreciation, rising material prices andproduction recovery
unit: 100 million yen

Impact ofincreased
customer-received
steel materials
for stamping

1,644
△51

Exchange
Conversion

Sales

Excahge

Material

VolumeGain

Price+66+18

1,912+108

Selling

Price+152△26FY2021

Sales ＋26.7 billion yen

FY2022
4/18

1-3 Analysis of FY2022 Results: Operating Income

Income decreased due to lower selling prices and higher
costs despite efforts to cost improvements(100 million yen)

107

Selling

Increased

PriceSales△26

MaterialPrice△14Labor
Cost

Depreciation△13(excl.dies)△12Exchange

VolumeGain+16

Cost
Improvement
Expenses

92+18+22△5FY2021

Operating Income△1.4billion

FY2022

5/18

1-4 Financial Results by Business Segments
Sales increased in Stamping＆Molding segment , but income remained
unchanged from the previous year, while in Valve segment increasedin sales and decreased in income.
（100 millions of yen,％）

Sales

Stamping & Molding

FY2021

FY2022ResultResult1,142(The Impact of increased
customer-received materials forstamping)

1,368
*１

Operating Income
YoY Rate

Operating Income Ratio

4990

YoY Rate

Gain&Loss%Change

ResultResultGain&Loss%Change+225+19.7

4949+0+1.1

4.3%

3.6%

△0.7P

5842△1511.7%

7.9%△3.8P(△51)

Operating Income Ratio

ValvesYoY rate

542+42+8.4△26.9• FY2022 Sales includes YonY decrease 5.1billion in FY2022 Q4 due to the impact of increased customer-received steel materials forstamping. No impact on income.

6/18

1-5 Financial Results by Region
Sales increased and income decreased in Japan, Europe, and America.
Sales and income increased in Asia
（100 millions of yen,％）SalesJapan

FY2021

FY2022

ResultResult687(The Impact of increased
customer-received materials forstamping)706*１Operating Income
YoY Rate

612

Operating Income Ratio

344

YoY Rate%Change

ResultResultGain&Loss%Change+18+2.76149△11△18.9

8.9%

7.1%

△1.8P

13△1△152.2%

△0.2%

△2.4P

3136+59.2%

8.7%

△0.5P

(△51)

781+168+27.5

Operating Income Ratio

AsiaFY2022

Gain&Loss

Operating Income Ratio

Europe & America

FY2021

425+80+23.4

Deficit+16.4• FY2022 Sales includes YonY decrease 5.1billion in FY2022 Q4 due to the impact of increased customer-received steel materials forstamping. No impact on income.

7/18

1-6 Quarterly performance trends
Secured income in Q3 due to profit improvement. Income in Q4 increased
due to sales volume increasing.
Operating IncomeSales( 100 millions of yen )Production

Sales up

cut indue toOct. andproduction

Nov.,

recoveryrecoveringin variousin Dec.

regionMaintainedSalesSalesDecrease insales due toincrease

increasesales duedue todue toSecured income byyen

the production

depreciatio

production

progressto theincrease ofn despite

recoverying yenrecoveryvolumeand yendeprecia

customer-decline

depreciatio

tion

n

444

to material/energy

income due

price hike and increased

to improved

labor costs.

profitability

materials

464

Increase
profit bysales
volume
up

36

for

525
444

Securedreceived

stamping.

416

Income decreased due

478

27

30

29

16
9

21/3Q

21/4Q

22/1Q

22/2Q

22/3Q

22/4Q

21/3Q

21/4Q

22/1Q

22/2Q

22/3Q

22/4Q

8/18

Contents

１．FY2022 Financial Performance
２．Financial Forecast (FY2023)

9/18

2-1 FY2023 Forecast Summary
Sales are expected down due to the impact of increased customer-received steel materials
for stamping, but operating income will be up by sale volume increasing.
（100 millions of yen,％）FY2023

FY2022*2

YonY rate

22/2Q

Full Year

23/2Q

Full Year

Cumulative
ResultResultCumulative
Forecast

Forecast*1

Full Year

2Q
Gain&Loss%Change

Gain&Loss%Change

1,850+00.1%△62△3.3%+77.6%

Sales9091,912910

Operating Income

2692

50

100+2392.2%

Operating Income Ratio

2.9%

4.9%

5.5%

5.4%

+2.6P

－+0.5P－

Ordinary Income

5513265

130+917.3%△2△1.6%

Ordinary Income Ratio

6.1%

6.9%

7.1%

7.0%

+1.0P

－+0.1P－

Current Net Income

41

93

4590

+38.9%△3△3.2%

ＲＯＥ

－

7.0%

－

6.4%

－

－

△0.6P

－

ＲＯＡ(Operating income basis）

－

3.7%

－

3.7%

－－ー－

Net Assets per Share－¥2,309－¥2,467－－¥158.06.8%¥134.9¥130.0¥130.0－△¥4.9－

Average exchange rate (US dollars)¥129.8¥0.2*1 FY2023 Sales includes YonY decrease 19.4billion due to the impact of increased customer-received steel materials for stamping. No impact on income.
*2 Current net income is the current net income attributable to the parent company shareholders.

10/18

2-2 Analysis of FY2023 Forecasts: Consolidated Sales
Sales volume are expected to be up, but sales down due to the impact of increased
customer-received steel materials for stamping

1,912

Impact of increased
customer-received
materials for stamping（100 millions of yen）

Material
price
Sales

△194

volume1,850+74

Exchange
conversion△44Selling price+123

loss△16FY2022

Exchange△5Sales △6.2 billion

FY2023
Forecast

11/18

2-3 Analysis of FY2022 Forecasts: Operating Income
Sales are expected to recover, income will be up due to ongoing efforts
to cost improvements.
（100 millions of yen）

Cost

92

Selling price△16improvement

Labor
Cost

Material△13price△12SalesvolumeExpenses△6FY2022

Depreciation(excl. dies)+7

100+26

Exchange
Loss+26△5Operating Income ＋0.7 billion

FY2023
Forecast

12/182-4

Forecast by Business Segments

Sales are expected to decline in the Stamping and molding business dueto the impact described below(*1), while sales and income are expected todecline in the valve business.
（100 millions of yen,％）Sales
FY2022

FY2023ResultForecast

Gain&Loss

1,368

1,315

△53(△51)(△245)(△194)

Stamping & Molding(The Impact of increased
customer-received materials forstamping)Operating Income*１

YoY Rate

FY2022

FY2023%Change

ResultForecast

Gain&Loss%Change△3.94970+20+40.6

3.6%

5.3%+1.7P

4230△127.9%

5.7%

△2.2P

Operating Income Ratio

ValvesOperating Income Ratio

542530△12△2.2

YoY Rate△29.6*１ The above includes sales decrease since FY2022 Q4 due to the impact of increased customer-received materials for stamping.
No impact on income.

13/18

2-5 Forecast by Region
Sales and income will be down in Japan and Asia. Sales will be down
and income will be up in Europe and the United States.
（100 millions of yen,％）Sales
FY2022

FY2023ResultForecastGain&Loss706685△21(△51)(△245)(△194)

Japan(The Impact of increasedcustomer-received materials forstamping)Operating Income*１

YoY Rate

FY2022

FY2023%Change

ResultForecast

Gain&Loss%Change△3.04940△9△19.8

7.1%

5.8%

△1.3P

△119+20△0.2%

2.5%+2.7P

3633△38.7%

7.9%

△0.8P

Operating Income Ratio

Europe & America

781747△34△4.4

Operating Income Ratio

Asia
Operating Income Ratio

425418△7△1.7

YoY RateSurplus△10.5*１ The above includes sales decrease since FY2022 Q4 due to the impact of increased customer-received materials for stamping.
No impact on income.

14/182-6 Capital investments and Depreciation
Investments for future growth are progressing
Capital investment（100 million）

235
Asia

21Europe＆America

49

162
18

164
84
'19

380
2030

（100 million）

229

61
Japan

Depreciation

'20

181
27

23

44

330

35

119

'21

163

'22

’23'23（予）Forecast

142

146

25
33

23
38

165
26
46

84

85

92

'19'20

'21

182

188

2726

55
100'2240

121’23'23(予)Forecast

15/18

2-7 Consolidated Cash Flow
Efficient fund management by strengthening consolidated cashmanagement
Free cash flow △13 Billion yen

Free cash flow +7.7Billion yen

Operating activities +250

Operating activities +241

Deprecition

Other

Investing(Incl.

debts

△164

goodwillandAquisition

Intangible

liabilities

assets)of

266

Balance

Interestbearing

有利子
debt
負債残高
balanceEnd of Mar.2022

62.1 Billion yen△35315borrowings

Exchange

andConversion

dividend

etc.

etc.

Deposit

Investing

debts

△380

goodwillandIntangible

liabilities

AquisitionofPayment

income taxes

Other(Incl.

Financing

Assets etc.
Income before

Deprecition

assets)Noncurrent（100 million yen）

Income before

Noncurrent

income taxes

Assets etc.

Financing+30
Increase

Depositborrowings・Balance

dividendetc.

(△ 0.9 Billion yen)215

End of Mar.2023

61.2 Billion yen

Deposit
BalanceEnd of Mar.2024(+ 6.8 Billion yen)

68 Billion yen

16/18

2-8 Return to Stockholders
Flexible shareholder returns through share buybacks, and stabledividends will continue.
＜Dividend per share＞

Interim dividend

60

25.0%

Year-end dividend

25.0%

50
4030

20
1030
14160

＜Acquisition of treasury stock＞

FY2019Consolidated dividend payout ratio

(Yen)

27.0%

27.4%

414242252222162020

FY2021

FY2022

FY202325.3%

332310FY2020

Forecast

・Improve shareholder returns and capital efficiency, implement flexible capital policy・Acquisition date, number of shares, amount: April 28, 2023, 1,284 million yen, 1,090,000 shares・Total shareholder return ratio：37.9％/FY2022、43.1％/FY2023 forecast
17/18