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.

February 9, 2024

Consolidated Financial Results
for the Nine Months Ended December 31, 2023
(Under Japanese GAAP)
Company name:
Listing:
Securities code:

Furukawa Co., Ltd.
Tokyo Stock Exchange
5715

URL:
Representative:
Inquiries:
Telephone:https://www.furukawakk.co.jp
Minoru Nakatogawa, President and Representative Director
Tsuyoshi Tajika, General Manager, Accounting Department+81-3-6636-9502

Scheduled date to file quarterly securities report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:

February 14, 2024–
None

Holding of quarterly financial results briefing:

None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 to
December 31, 2023)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes.)
Net sales
Nine months ended
December 31, 2023

Millions of yen
142,034

December 31, 2022

156,954

Note: Comprehensive income

Operating profit% Millions of yen
(9.5)
6,668

% Millions of yen
10.2
8,205

% Millions of yen
19.1
14,763

6.3

5.7

2.9

6,050

For the nine months ended December 31, 2023:
For the nine months ended December 31, 2022:

Basic earnings
per share

Profit attributable toowners of parent

Ordinary profit

Diluted earnings
per share

Nine months ended
December 31, 2023

Yen
392.63

Yen–

December 31, 2022

116.98–6,887¥ 19,378 million¥ 7,169 million

4,495[170.3%][25.7%]

%
228.4
1.1

(2) Consolidated financial position
Total assets
As ofDecember 31, 2023

Net assets

Equity-to-asset ratio

Millions of yen
252,914

Millions of yen
121,875%
46.9

232,745

106,050

44.2

March 31, 2023
Reference: Equity
As of December 31, 2023:¥ 118,542 million¥ 102,946 million

As of March 31, 2023:

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Yen

Yen

–

0.00

–

50.00

50.00

–

0.00

–
50.00

50.00

Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024
Fiscal year ending
March 31, 2024
(Forecast)Fiscal year-end

Total

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2024 (from April 1, 2023
to March 31, 2024)(Percentages indicate year-on-year changes.)
Net sales

Fiscal year ending
March 31, 2024

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share

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

%

Yen

189,300(11.6)

9,000

(0.4)

10,50012.3

16,500165.6

443.67

Note: Revisions to the forecast of financial results most recently announced: Yes

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

40,445,568 shares

As of March 31, 2023

40,445,568 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2023

3,255,564 shares

As of March 31, 2023

2,329,563 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal
year)
Nine months ended December 31, 2023

37,601,601 shares

Nine months ended December 31, 2022

38,430,623 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants
or an audit corporation.
* Proper use of earnings forecasts, and other special matters
Caution concerning forward-looking statements
The forward-looking statements, including earnings outlook, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable by theCompany. The Company makes no warranty as to the achievability of the projections. Actual business andother results may differ substantially from the statements herein due to a number of factors.
Please refer to “1. Performance Overview, (3) Explanation of Consolidated Earnings Forecasts and Other
Forward-Looking Statements” on page 7 of the attached material for the suppositions that form theassumptions for earnings forecasts and cautions concerning the use thereof.

Furukawa Co., Ltd. (5715)

Attached Material
Index
1. Performance Overview ............................................................................................................................. 2(1) Operating results................................................................................................................................. 2(2) Financial position ............................................................................................................................... 5(3) Explanation of Consolidated Earnings Forecasts and Other Forward-Looking Statements............... 7
2. Quarterly Consolidated Financial Statements and Significant Notes Thereto .......................................... 8(1) Quarterly consolidated balance sheet ................................................................................................. 8(2) Quarterly consolidated statement of income and consolidated statement of comprehensive
income .............................................................................................................................................. 10
Quarterly consolidated statement of income (cumulative) ............................................................... 10
Quarterly consolidated statement of comprehensive income (cumulative) ...................................... 11(3) Notes to quarterly consolidated financial statements ....................................................................... 12
Notes on going concern assumptions ............................................................................................... 12
Notes on significant changes in the amount of shareholders’ equity ................................................ 12
Segment information ........................................................................................................................ 12
Supplementary Material on Financial Results for the Nine Months Ended December 31, 2023 .................. 14-1-

Furukawa Co., Ltd. (5715)

1. Performance Overview
Matters concerning forward-looking statements in the text are according to the judgment as of the endof the third quarter of the fiscal year ending March 31, 2024.
(1) Operating results(Millions of yen)
Nine months ended
December 31, 2022
Net sales

Nine months ended
December 31, 2023

Year-on-year change

156,954

142,034(14,919)

Operating profit

6,050

6,668

618

Ordinary profit

6,887

8,205

1,317

Profit attributable to owners of parent

4,495

14,763

10,267In the three quarters under review (April 1–December 31, 2023), the Japanese economy
experienced a moderate recovery amid improving employment and income conditions and theeffects of various government policies. In addition, overall corporate earnings remained high, as arebound in demand following the COVID-19 crisis boosted earnings in the automotive and service
industries. However, a slowdown in overseas economies put downward pressure on earnings in the
manufacturing sector amid continued global monetary tightening, concerns about the economic
outlook in China, and other factors.
In this economic environment, the Furukawa Company Group posted consolidated net sales of¥142,034 million, a decrease of ¥14,919 million from the previous corresponding period, andoperating profit of ¥6,668 million, an increase of ¥618 million year on year. In the Machinery
business, the Industrial Machinery segment reported year-on-year declines in sales and operating
profit, the Rock Drill Machinery segment posted increases in sales and operating profit, and the
UNIC Machinery segment posted higher sales and lower operating profit. Overall, the Machinery
business reported increases in both sales and operating profit. In the Materials business, the Metals
segment posted lower sales and higher operating profit, the Electronics segment lower sales andoperating profit, and the Chemicals segment higher sales and operating profit. As a result, theMaterials business as a whole posted lower sales and higher operating profit. The Real Estatebusiness reported declines in both sales and operating profit. Within non-operating income, weposted dividend income of ¥898 million. As a result of these and other factors, ordinary profit
amounted to ¥8,205 million, an increase of ¥1,317 million year on year. Among extraordinary
income, we posted a ¥13,427 million gain on sale of non-current assets, mainly from the transfer ofa portion of the former Furukawa Osaka Building site and other land as a co-ownership interest.
Accordingly, profit attributable to owners of parent was ¥14,763 million, an increase of ¥10,267
million.
Below is a summary of sales and operating profit by reportable segment.
Industrial Machinery(Millions of yen)
Nine months ended
December 31, 2022
Sales
Operating profit

Nine months ended
December 31, 2023

Year-on-year change

11,72810,015(1,713)

363

(286)

(650)

The Industrial Machinery segment posted sales of ¥10,015 million, a decrease of ¥1,713 million
year on year, and an operating loss of ¥286 million, compared with operating profit of ¥363 million
in the previous corresponding period. The order backlog at the end of the period (December 31,2023) was higher than the end of the previous fiscal year (March 31, 2023), due mainly to orders
received for the Hachioji South Bypass Ofuna-Terada Viaduct and other projects related to bridges.
As for revenue, sales of material machinery decreased due to lower sales of main units and lower
sales from plant construction work, while sales of pump products and equipment also declined. In-2-

Furukawa Co., Ltd. (5715)

the infrastructure business, we reported sales corresponding to progress of bridge-related projects,
including the Shimizu IC No. 3 Viaduct Steel Upper Structure and the Tokai Kanjo Daian Viaduct,but overall sales declined due to a decrease in construction work on large-scale projects. On theoperating profit (loss) side, we reported a loss due to delays in plant construction of material
machinery, which incurred additional costs.
Rock Drill Machinery(Millions of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Year-on-year change

Sales

27,78029,995

2,214

Operating profit

2,019

3,258

1,239

Sales in the Rock Drill Machinery segment totaled ¥29,995 million, an increase of ¥2,214 million
year on year, and operating profit was ¥3,258 million, an increase of ¥1,239 million. In Japan, sales
increased due to a rise in shipments of main bodies of hydraulic crawler drills and an increase inorders for maintenance services. Overseas, we reported increased shipments of hydraulic breakers
to North America and higher sales of hydraulic crawler drills to North America, where demandremains strong, as well as to Africa. With the added benefit of the yen’s depreciation, overseas
sales increased year on year.
UNIC Machinery(Millions of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Year-on-year change

Sales

20,843

20,985141

Operating profit

1,112

962

(149)

Sales in the UNIC Machinery segment totaled ¥20,985 million, an increase of ¥141 million year on
year, and operating profit was ¥962 million, a decrease of ¥149 million. In Japan, we reported anincrease in sales due to various factors. These included a recovery in truck production, which had
suffered delays, as well as higher shipments of UNIC cranes due to a year-on-year increase in thenumber of trucks supplied. However, the cost of sales ratio deteriorated and earnings declined due
to ongoing shipments of products sold before price hikes, which we implemented to address
soaring prices of steel and other raw materials. Overseas, we posted a decrease in sales due tolower shipments to China, Southeast Asia, Europe, and other regions.
Machinery Business Total(Millions of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Year-on-year change

Sales

60,35260,995642

Operating profit

3,495

3,934

439

Total sales of the Machinery business—consisting of the Industrial Machinery, Rock Drill
Machinery, and UNIC Machinery segments—amounted to ¥60,995 million, an increase of ¥642
million year on year, and operating profit was ¥3,934 million, an increase of ¥439 million.

-3-

Furukawa Co., Ltd. (5715)

Metals(Millions of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Year-on-year change

Sales

80,75364,501(16,252)

Operating profit

1,164

1,845

681

Sales in the Metals segment amounted to ¥64,501 million, a decrease of ¥16,252 million year on
year, and operating profit was ¥1,845 million, an increase of ¥681 million. The overseas market
price of electrolytic copper started the period at US$8,966/ton and rose to the US$9,000/ton levelin mid-April but declined to US$8,210/ton on June 30 due to speculation about additional interest
rate hikes in the United States and signs of weak Chinese demand. Subsequently, the price rose andfell repeatedly, mainly due to expectations for economic stimulus measures in China anduncertainties about demand, as well as supply concerns stemming from the shutdown of operations
at a copper mine in Panama, and ended the period at US$8,476/ton. The termination of our
entrusted copper smelting agreement with Onahama Smelting and Refining Co., Ltd. on March 31,
2023, led to decreases in production and sales volume of electrolytic copper, resulting in lower
segment sales but an improved income/expense balance in the entrusted copper smelting business.
Thanks to this improvement, as well as price differentials due to fluctuations in metal prices, wereported an increase in segment operating profit.
Electronics(Millions of yen)
Nine months ended
December 31, 2022
Sales
Operating profit

Nine months ended
December 31, 2023

Year-on-year change

5,287

5,259

(28)

430

264

(166)

Sales in the Electronics segment amounted to ¥5,259 million, a decrease of ¥28 million year on
year, and operating profit was ¥264 million, a decrease of ¥166 million. The market cycle for highpurity metallic arsenic for compound semiconductors, a major application for this material,
remained at the bottom both in Japan and overseas. Meanwhile, demand for aluminum nitride
ceramics for use in semiconductor manufacturing equipment was weak. Thus, overall sales of bothmaterials declined. Sales of coils increased due to the recovery in automobile production as thesemiconductor shortage moved toward resolution.
Chemicals(Millions of yen)
Nine months ended
December 31, 2022
Sales
Operating profit

Nine months ended
December 31, 2023

Year-on-year change

6,396

6,858

462

414

505

90

Sales in the Chemicals segment amounted to ¥6,858 million, an increase of ¥462 million year on
year, while operating profit was ¥505 million, an increase of ¥90 million. Sales of cupric oxide
decreased due to a decline in demand related to cloud server substrates, PCs, and smartphones,
despite higher unit selling prices stemming from rising copper prices and price revisions.
Meanwhile, sales of cuprous oxide increased on the back of a recovery in demand for ship-bottom
paints, a major application for that product, as well as higher unit selling prices owing to risingcopper prices and price revisions.

-4-Furukawa Co., Ltd. (5715)

Materials Business Total(Millions of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Year-on-year change

Sales

92,43776,618(15,818)

Operating profit

2,009

2,615

606

Total sales of the Materials business—consisting of the Metals, Electronics, and Chemicals
segments—amounted to ¥76,618 million, a decrease of ¥15,818 million year on year, and operating
profit was ¥2,615 million, an increase of ¥606 million.
Real Estate(Millions of yen)
Nine months ended
December 31, 2022
Sales
Operating profit

Nine months ended
December 31, 2023

Year-on-year change

1,581

1,376

(204)

707

355

(352)

Sales in the Real Estate business amounted to ¥1,376 million, a decrease of ¥204 million year on
year, and operating profit was ¥355 million, a decrease of ¥352 million. As for the Muromachi
Furukawa Mitsui Building (commercial name: COREDO Muromachi 2), our main facility, rent
income, which varies according to sales of the commercial facility, recovered to the pre-pandemic
level. However, overall revenues from office rents declined due to a reduction in floor space for
office tenants and lower unit rent prices.
Others(Millions of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Year-on-year change

Sales

2,583

3,043

460

Operating profit

(101)

(177)

(75)

This segment covers metal powder, casting, transportation, and other businesses. In the period
under review, the segment recorded sales of ¥3,043 million, an increase of ¥460 million year on
year, and an operating loss of ¥177 million, an increase of ¥75 million from the previous
corresponding period.
(2) Financial position(Millions of yen)
End of previous fiscal
year

End of the third
quarter of the fiscal
year ending March
31, 2024

Change from end of
previous fiscal year

Total assets

232,745

252,914

20,168

Liabilities

126,695

131,039

4,344(Interest-bearing debt)

62,84861,761(1,087)

Net assets

106,050

121,875

15,824

44.2

46.9

2.7

Equity-to-asset ratio(%)

At the end of the three quarters (December 31, 2023), total assets amounted to ¥252,914 million, an
increase of ¥20,168 million from March 31, 2023. This was mainly due to a decrease in notes andaccounts receivable–trade and contract assets and increases in cash and deposits, and raw materials
and supplies, as well as an increase in investment securities due to higher share prices of listed-5-Furukawa Co., Ltd. (5715)

stocks. We also reported proceeds from the transfer of a portion of the former Furukawa Osaka
Building site and other land as a co-ownership interest, which led to an increase in long-term
accounts receivable–other (included in “Other” under “Investments and other assets”). Interestbearing debt totaled ¥61,761 million, a decrease of ¥1,087 million. Net assets amounted to¥121,875 million, an increase of ¥15,824 million.

-6-

Furukawa Co., Ltd. (5715)(3) Explanation of Consolidated Earnings Forecasts and Other Forward-Looking Statements
Compared to the previous forecast announced on November 9, 2023, net sales and operating profit
have been revised downward. In the Rock Drill Machinery segment, both sales and operating profit
are expected to increase due to firm shipments in Japan, but in the Industrial Machinery segment,
additional costs were incurred in material machinery due to delays in plant construction, etc. In the
UNIC Machinery segment, shipments of UNIC cranes were lower than expected, and the price ofraw materials such as steel materials rose sharply, etc. Due to the worsening of the cost ratio, bothsales and operating profits are expected to decline in the Machinery business as a whole. In the
Metals segment, both sales and operating profits are expected to increase, mainly due to the results
through the nine months ended December 31, 2023, while in the Electronics segment, both sales
and operating profits are expected to decrease due to the delayed recovery of the semiconductor
cycle, resulting in higher sales and lower operating profits for the Materials business as a whole.
Ordinary profit and profit attributable to owners of parent remain unchanged from the previous
forecast.

-7-

Furukawa Co., Ltd. (5715)

2. Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2023
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, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-8-

As of December 31, 2023

13,606

17,81435,502

28,626

18,705
12,213
15,5844,318(47)
99,882

20,185
13,56819,4156,000(48)
105,562

23,43553,91013,636
90,981
317

23,12051,747
15,72990,597360

34,711
7,622(769)
41,563
132,862
232,745

38,954
18,236(796)
56,394
147,351
252,914

Furukawa Co., Ltd. (5715)(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Provisions
Retirement benefit liability
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
Deferred gains or losses on hedges
Revaluation reserve for land
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-9-

As of December 31, 2023

14,397
9,244
16,607
1,711
202
20,947
63,111

15,821
11,583
9,648
2,026
202
17,96857,252–
46,24097
2,481
228
14,53463,583
126,695

5,000
47,1124
2,387
232
19,05073,787131,039

28,2082
58,847(3,086)
83,971

28,2082
71,712(4,707)
95,215

12,320
(77)
2,582
1,564
2,584
18,974
3,103
106,050
232,745

14,875
305
2,575
3,130
2,439
23,327
3,332
121,875
252,914

Furukawa Co., Ltd. (5715)(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income
Quarterly consolidated statement of income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Administrative expenses of inactive mountain
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Other
Total extraordinary income
Extraordinary losses
Demolition expenses of a rental building
Loss on liquidation of subsidiaries
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent- 10 -

Nine months ended
December 31, 2023

156,954
136,045
20,90914,8596,050

142,034
120,398
21,636
14,967
6,668

784
1,736
597
3,118

898
818
1,144
2,861

379
584

376
608

786

–

530
2,280
6,887

341
1,325
8,205

12
362
374

13,427677
14,105

470
357
388
1,217
6,045
2,016
(661)
1,355
4,690
194
4,495

458
205
167
831
21,479
3,882
2,649
6,531
14,947
184
14,763Furukawa Co., Ltd. (5715)

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
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- 11 -

Nine months ended
December 31, 2023

4,690

14,947

(643)
428
2,302
(123)

2,559
364
1,330
(144)

515

320

2,479
7,169

4,430
19,378

6,879

19,123290

255

Furukawa Co., Ltd. (5715)(3) Notes to quarterly consolidated financial statements
Notes on going concern assumptions
Not applicable.
Notes on significant changes in the amount of shareholders’ equity
Not applicable.
Segment information[Segment information]
1. Nine months ended December 31, 2022
(1) Information relating to the amounts of net sales and profit or loss by reportable segment(Millions of yen)
Reportable segment

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Industrial
Machinery

Rock Drill
Machinery

UNIC
Machinery

11,72827,78020,8432,067

213,796
363

MetalsElectronics

Chemicals

80,753

5,287

6,396

180

179

–

41

27,78321,02380,933

5,287

6,437

2,019

1,112

1,164

430

414

Eliminations/
corporate(Note 2)

Amountrecorded in thequarterly
consolidated
statement ofincome(Note 3)

Reportable segment

Real Estate

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Others(Note 1)

Total

Total

1,581

154,371

2,583

156,954–

156,954

9

2,480

1,375

3,855

(3,855)–

1,590

156,852

3,958

160,810(3,855)

156,954

707

6,212

(101)

6,110

(60)

6,050

Notes: 1. The “Others” category refers to business segments not included in the reportable segments, and includes themetal powder business, casting business, transportation business, and other businesses.
2. Segment profit (loss) adjustment of ¥(60) million includes eliminations of intersegment transactions of ¥25
million and company-wide expenses not allocated to each reportable segment of ¥(85) million. Company-wide
expenses are mainly expenses related to deserted metal mine assets and deserted coal mine assets that do notbelong to the reportable segments.
3. Segment profit (loss) is adjusted to operating profit in the quarterly consolidated statement of income.

- 12 -

Furukawa Co., Ltd. (5715)

2. Nine months ended December 31, 2023
(1) Information relating to the amounts of net sales and profit or loss by reportable segment(Millions of yen)
Reportable segment

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Industrial
Machinery

Rock Drill
Machinery

UNIC
Machinery

10,01529,99520,9852,094

412,110(286)

MetalsElectronics

Chemicals

64,501

5,259

6,858

278

184

–

42

29,99921,26464,685

5,259

6,900

3,258

962

1,845

264

505

Eliminations/
corporate(Note 2)

Amountrecorded in thequarterly
consolidated
statement ofincome(Note 3)

Reportable segment

Real Estate

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Others(Note 1)

Total

Total

1,376

138,991

3,043

142,034–

142,034

7

2,612

1,446

4,058

(4,058)–

1,383

141,603

4,490

146,093(4,058)142,034

355

6,905

(177)

6,728

(59)

6,668

Notes: 1. The “Others” category refers to business segments not included in the reportable segments, and includes themetal powder business, casting business, transportation business, and other businesses.
2. Segment profit (loss) adjustment of ¥(59) million includes eliminations of intersegment transactions of ¥24
million and company-wide expenses not allocated to each reportable segment of ¥(83) million. Company-wide
expenses are mainly expenses related to deserted metal mine assets and deserted coal mine assets that do notbelong to the reportable segments.
3. Segment profit (loss) is adjusted to operating profit in the quarterly consolidated statement of income.

- 13 -

Furukawa Co., Ltd. (5715)

Supplementary Material on Financial Results
for the Nine Months Ended December 31, 2023
February 9, 2024
Furukawa Co., Ltd.
Net sales(Yen amounts are rounded down to millions.)
Fiscal year ending March 31, 2024

Nine months
ended
December
31,2022

Nine months
ended
December
31,2023

Year-on-yearchangePreviously
announced
forecast

Forecast

Year-on-yearchange60,35260,995642

85,60084,1002,441

Industrial Machinery segment

11,72810,015(1,713)

17,90017,100(843)

Rock Drill Machinery segment
UNIC Machinery segment

27,78020,84329,99520,9852,214
141

38,70029,00039,10027,9003,347(61)

92,43776,618(15,818)

98,30099,300(27,504)

Metals segment
Electronics segment

80,753
5,287

64,501
5,259(16,252)(28)

81,9007,300

83,5006,800(27,924)(126)

Machinery business

Materials business

Chemicals segment

6,396

6,858

462

9,100

9,000

545

Real Estate segment

1,581

1,376

(204)

1,900

1,900

(156)

Others segment

2,583

3,043

460

4,200

4,000

328

156,954

142,034(14,919)

190,000

189,300(24,890)

Nine months
ended
December
31,2022

Nine months
ended
December
31,2023

Total

Operating profit

Machinery business

Fiscal year ending March 31, 2024
Year-on-yearchangePreviously
announced
forecast

Forecast

Year-on-yearchange

3,495

3,934

439

6,600

6,100

6

Industrial Machinery segment

363

(286)

(650)

1,000

600

(915)

Rock Drill Machinery segment
UNIC Machinery segment

2,019
1,112

3,258
962

1,239
(149)

4,100
1,500

4,300
1,200

1,269
(347)

2,009

2,615

606

2,800

2,700

390

Metals segment
Electronics segment

1,164
430

1,845
264

681
(166)

1,700
400

1,900
200

623
(300)

Chemicals segment

414

505

90

700

600

67

Real Estate segment

707

355

(352)

500

500

(335)

Materials business

Others segment

(101)

(177)

(75)

(100)

(200)

(66)

(Subtotal)

6,110

6,728

617

9,800

9,100

(4)

Eliminations/corporate

(60)

(59)

1

(100)

(100)

(26)

6,050

6,668

618

9,700

9,000

(31)

Nine months
ended
December
31,2022

Nine months
ended
December
31,2023

Total

Exchange rate/Copper priceFiscal year ending March 31, 2024
Year-on-yearchangePreviously
announced
forecast

Forecast

Year-on-yearchangeExchange rate

Yen/$

136.5

143.3

6.8

143.0

143.7

8.2

Copper price

$/mt

8,425

8,334

(91)

8,209

8,326

(225)

- 14 -

Furukawa Co., Ltd. (5715)* Reference Information (the below values are reference values)
1. Industrial Machinery segment order balance
The Industrial Machinery segment mainly provides built-to-order manufacturing, and the order balance as ofthe end of the third quarter is as follows.

Order backlog

As ofDecember 31,2022

As ofDecember 31,2023

Year-on-year change¥13.9 billion¥16.7 billion¥2.8 billion

2. Profit or loss from metal price fluctuations in the Metals segment
Nine months ended
December 31,2022

Nine months ended
Year-on-year change
December 31,2023

Operating profit¥1.16 billion¥1.84 billion¥0.68 billion

Of which was due to pricefluctuations¥1.22 billion¥1.16 billion¥(0.06) billion[¥0.26 billion][¥0.89 billion][¥0.25 billion][¥0.82 billion][¥(0.00) billion][¥(0.07) billion]

CopperGold- 15 -