Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

August 8, 2023

Consolidated Financial Results for the Fiscal Year
Ended June 30, 2023 (Under Japanese GAAP)
Company name:
ULVAC, Inc.
Listing:
Tokyo Stock Exchange
Securities code:
6728
URL:
https://www.ulvac.co.jp/en/
Representative:
Setsuo Iwashita, President and CEO
Inquiries:
Akira Umeda, Officer, General Manager of IR Department
Telephone:+81-467-89-2024
Scheduled date of ordinary general meeting of shareholders:
September 28, 2023
Scheduled date to commence dividend payments:
September 29, 2023
Scheduled date of filing annual securities report:
September 28, 2023
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (for domestic institutional
investors and analysts)(Yen amounts are rounded to the nearest million, unless otherwise noted)

1. Consolidated financial results for the fiscal year ended June 30, 2023 (from July 1, 2022 to June30, 2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended
June 30, 2023
June 30, 2022

Millions of yen

227,528
241,260

Note: Comprehensive income% Millions of yen

(5.7)
31.8

19,94630,061% Millions of yen(33.6)
74.8

22,88032,200Yen% Millions of yen(28.9)
79.2

Yen

Ordinary profit tototal assets%––

14,16920,211%(29.9)
36.3¥15,415 million [(47.0)%]¥29,063 million [66.2%]

Diluted earnings
Return on equity
per share

287.70410.37

Profit attributable toowners of parent

Ordinary profit

For the fiscal year ended June 30, 2023:
For the fiscal year ended June 30, 2022:

Basic earnings
per share
Fiscal year ended
June 30, 2023
June 30, 2022

Operating profit

Operating profit to
net sales

%

7.3
11.4

6.5
10.0

Reference: Share of profit (loss) of entities accounted for using equity method:
For the fiscal year ended June 30, 2023:
For the fiscal year ended June 30, 2022:¥2,661 million¥861 million

%

8.8
12.5

(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen

June 30, 2023

353,474

204,853

56.1

4,024.72

June 30, 2022

354,304

196,48453.3

3,837.17

Reference:

EquityAs of June 30, 2023:
As of June 30, 2022:¥198,212 million¥188,977 million%

Net assets per shareYen(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended

Cash flows frominvesting activities

Millions of yen

Cash flows fromfinancing activities

Millions of yen

Millions of yen

Cash and cash
equivalents at end of
periodMillions of yen

June 30, 2023

1,011

(15,673)(5,438)87,317

June 30, 2022

33,931(7,432)(6,445)

107,106

2. Cash dividends
Annual dividends per shareFirst
quarter-end

Secondquarter-end

Thirdquarter-end

Fiscalyear-end

Total

Yen

Total
dividend(Annual)Payout ratio(Consolidated)

Dividend on
equity(Consolidated)

%

%

Yen

Yen

Yen

Fiscal year ended
June 30, 2022

Yen Millions of yen

–

–

–

124.00124.00

6,120

30.2

3.4

Fiscal year ended
June 30, 2023

–

–

–

109.00109.00

5,379

37.9

2.8

Fiscal year ending
June 30, 2024
(Forecast)

–

–

–

114.00114.0035.1

3. Consolidated earnings forecasts for the fiscal year ending June 30, 2024 (from July 1, 2023 toJune 30, 2024)
Net sales(Percentages indicate year-on-year changes.)
Basic
Profit attributable toOrdinary profit
earnings perowners of parent
share

Operating profit

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

Six months ending
December 31, 2023

113,500

1.9

8,000

(23.6)

9,000(23.6)

5,500(41.1)

111.68

Fiscal year ending
June 30, 2024

245,000

7.7

23,00015.3

24,500

7.1

16,00012.9

324.88

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): Yes
New inclusion: None, Exclusion: One company (ULVAC TOHOKU, Inc.)(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2023

49,355,938 shares

As of June 30, 2022

49,355,938 shares(ii) Number of treasury shares at the end of the period
As of June 30, 2023

107,207 shares

As of June 30, 2022

106,961 shares(iii) Average number of shares outstanding during the period
Fiscal year ended June 30, 2023

49,248,917 sharesFiscal year ended June 30, 2022

49,248,995 shares[Reference] Summary of non-consolidated financial results
Non-consolidated financial results for the fiscal year ended June 30, 2023 (from July 1, 2022 to June30, 2023)(1) Non-consolidated operating results
Net sales
Fiscal year ended
June 30, 2023
June 30, 2022

Operating profit

Millions of yen

94,250108,458% Millions of yen(13.1)
32.8

Basic earnings
per share
Fiscal year ended
June 30, 2023
June 30, 2022

(Percentages indicate year-on-year changes.)

777
11,287

Ordinary profit% Millions of yen(93.1)
361.6

12,15921,596

Profit% Millions of yen(43.7)
114.0

12,342
18,656%(33.8)
43.7

Diluted earnings
per shareYen

250.57378.75Yen––(2) Non-consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen

June 30, 2023

231,764

133,15857.5

2,703.44

June 30, 2022

230,448

126,35254.8

2,565.25

Reference:

EquityAs of June 30, 2023:
As of June 30, 2022:¥133,158 million¥126,352 million%

Net assets per share
Yen* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
The forward-looking statements, including the earnings forecasts shown in this document are based on
information currently available to the Company and on certain assumptions deemed to be reasonable. As
such, they do not constitute guarantees by the Company of future performance. Actual performance andother results may differ materially from these forecasts due to various factors.

ULVAC, Inc. (Securities code: 6728)
Consolidated Financial Results for the Fiscal Year Ended June 30, 2023

Consolidated financial statements(1) Consolidated balance sheet(Millions of yen)
As of June 30, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsMerchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Leased assets
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of June 30, 2023

118,040

98,39986,331

83,5384,500
29,09015,84910,562(525)
263,847

6,140
36,485
19,335
11,903(521)
255,280

85,821(58,939)
26,88378,272(62,537)
15,735
14,682(12,908)
1,774
8,360
5,079
(1,922)
3,157
9,087
64,99587,062(61,146)
25,91584,162(63,763)
20,39914,840(13,099)
1,741
8,245
5,981
(2,311)
3,670
9,617
69,588

27
1,603
2,085
3,715

23
1,746
2,568
4,336

6,882
536
6,990
9,332
(1,995)
21,74690,457354,304

10,151
940
6,245
8,962
(2,030)24,26998,193
353,474

ULVAC, Inc. (Securities code: 6728)
Consolidated Financial Results for the Fiscal Year Ended June 30, 2023
(Millions of yen)
As of June 30, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Lease liabilities
Income taxes payable
Contract liabilities
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for product warranties
Provision for loss on orders received
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Retirement benefit liability
Provision for share awards for directors (and otherofficers)
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of June 30, 2023

55,030
9,618
679
3,813
25,245
5,918

47,336
11,878898
2,328
22,685
5,072

404

368

1,387
16
14,651
116,762

1,726
313
14,149106,754

29,910
2,562
128
7,400

30,080
3,037
195
7,414

272

311

416
368
41,057
157,820409
420
41,867
148,620

20,873
3,912
152,514(344)
176,955

20,873
3,912
160,563(345)
185,003

1,440
12,282(1,700)12,022
7,508
196,484
354,304

2,036
12,721(1,547)
13,2096,641
204,853
353,474

ULVAC, Inc. (Securities code: 6728)
Consolidated Financial Results for the Fiscal Year Ended June 30, 2023

(2) Consolidated statement of income and consolidated statement of comprehensive income
Consolidated statement of income(Millions of yen)
Fiscal year ended
June 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Selling expenses
General and administrative expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Commission for syndicated loans
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Gain on sale of shares of subsidiaries and associates
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Impairment losses
Cost to deal with COVID-19
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

Fiscal year ended
June 30, 2023

241,260
167,51773,743

227,528
160,366
67,162

18,03625,646
43,68230,061

17,89329,32447,217
19,946

248
745
571

394
429
–

861

2,661

1,312
3,736

1,579
5,063

410
–
195
994
1,598
32,200

441
574
287
826
2,128
22,880

343
797
59
1,199

–
–
153
153

3,090
1,028
4,118
29,280
7,549
290
7,839
21,441
1,231
20,211

2,311
–
2,311
20,722
6,100
542
6,642
14,080(89)
14,169ULVAC, Inc. (Securities code: 6728)
Consolidated Financial Results for the Fiscal Year Ended June 30, 2023

Consolidated statement of comprehensive income(Millions of yen)
Fiscal year ended
June 30, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

Fiscal year ended
June 30, 2023

21,441

14,080

(738)
8,015
(279)

602
639
154

624

(59)

7,622
29,063

1,336
15,41527,34815,357

1,714

59

ULVAC, Inc. (Securities code: 6728)
Consolidated Financial Results for the Fiscal Year Ended June 30, 2023

(3) Consolidated statement of changes in equity
Fiscal year ended June 30, 2022
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity3,912

137,573(343)

162,015

20,873(581)
20,873

3,912

(581)

136,992(343)

161,433

Changes during period
Dividends of surplus(4,688)(4,688)

Profit attributable toowners of parent

20,211

20,211

Purchase of treasury
shares(0)(0)

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period––

15,522(0)

15,522

20,873

3,912

152,514(344)

176,955

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

2,174

Foreign currency
Total accumulated
Remeasurements oftranslation
other comprehensive
defined benefit plansadjustment
income4,132(1,422)

4,884

Non-controllinginterests
6,800

Total net assets

173,699
(581)

2,174

4,132

(1,422)

4,884

6,800

173,117

Changes during period
Dividends of surplus(4,688)

Profit attributable toowners of parent

20,211

Purchase of treasury
shares(0)

Net changes in items otherthan shareholders’ equity

(733)

8,150

(279)

7,138

707

7,845

Total changes during period

(733)

8,150

(279)

7,138

707

23,367

Balance at end of period

1,440

12,282(1,700)12,022

7,508

196,484

ULVAC, Inc. (Securities code: 6728)
Consolidated Financial Results for the Fiscal Year Ended June 30, 2023

Fiscal year ended June 30, 2023
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

Capital surplus

Retained earnings

Treasury shares

Total shareholders’equity3,912

152,514(344)

176,955

20,873–
20,873

3,912

152,514(344)

176,955

Changes during period
Dividends of surplus(6,120)(6,120)

Profit attributable toowners of parent

14,16914,169Purchase of treasury
shares(1)(1)

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–

–

8,049

(1)

8,048

20,873

3,912

160,563(345)

185,003

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

1,440

Foreign currency
Total accumulated
Remeasurements oftranslation
other comprehensive
defined benefit plansadjustment
income12,282(1,700)12,022

Non-controllinginterests
7,508

Total net assets

196,484–

1,440

12,282(1,700)12,022

7,508

196,484

Changes during period
Dividends of surplus(6,120)

Profit attributable toowners of parent

14,169Purchase of treasury
shares(1)

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

596

439

153

1,188

(867)

321

596

439

153

1,188

(867)

8,369

2,036

12,721(1,547)

13,2096,641

204,853ULVAC, Inc. (Securities code: 6728)
Consolidated Financial Results for the Fiscal Year Ended June 30, 2023

(4) Consolidated statement of cash flows(Millions of yen)
Fiscal year ended
June 30, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for share awards for
directors (and other officers)
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for loss on orders
received
Interest and dividend income
Interest expenses
Loss (gain) on sale of investment securities
Loss (gain) on sale of shares of subsidiaries andassociates
Loss (gain) on sale of non-current assets
Share of loss (profit) of entities accounted for using
equity method
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in net contract liabilities
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment andintangible assets
Proceeds from sale of property, plant and equipment
and intangible assets
Proceeds from sale of investment securities
Proceeds from sale of shares of subsidiaries andassociates
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Dividends paid
Purchase of treasury shares
Dividends paid to non-controlling interests
Other, net
Net cash provided by (used in) financing activities

Fiscal year ended
June 30, 2023

29,280
8,587
3,090
203
2,593
(38)

20,722
8,245
2,311
36
(869)
238

75

39

67

328

(906)

297

(993)
410
(343)

(822)
441
–

(797)

–

(59)

(153)

(861)

(2,661)(16,971)(11,348)
15,544
10,788594(850)
38,067
1,573(407)(5,302)33,931

3,629(12,530)(8,418)(2,725)
(913)
2,179
9,373
1,026
(400)
(8,987)
1,011(20,656)
18,908(25,578)
25,495(7,344)(16,311)

224

435

391

–

1,200

–

(155)
(7,432)285(15,673)331
5,400(5,685)(741)(4,684)(0)(1,065)–(6,445)

1,483
7,300
(6,368)(879)(6,115)(1)(858)
0(5,438)ULVAC, Inc. (Securities code: 6728)
Consolidated Financial Results for the Fiscal Year Ended June 30, 2023
(Millions of yen)
Fiscal year ended
June 30, 2022
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

Fiscal year ended
June 30, 2023

3,991

312

24,044
83,061
107,106(19,788)
107,106
87,317