Note: This document has been translated from a part of 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, 2023

Consolidated Financial Results
for the Nine Months Ended December 31, 2022
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:
Telephone:

Furukawa Co., Ltd.
Tokyo Stock Exchange5715
https://www.furukawakk.co.jp
Minoru Nakatogawa, President and Representative Director
Akira Mikage, 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:
Holding of quarterly financial results briefing:

February 13, 2023
–
None
None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 toDecember 31, 2022)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes.)
Net sales
Nine months ended

Millions of yen

December 31, 2022
December 31, 2021

156,954
147,605

Note: Comprehensive income

Operating profit% Millions of yen
6.3
28.1

6,050
5,721

Profit attributable toowners of parent

Ordinary profit% Millions of yen

5.7
89.7

6,887
6,694

% Millions of yen
2.9
86.9

4,495
4,449

For the nine months ended December 31, 2022:¥ 7,169 million[25.7%]For the nine months ended December 31, 2021:¥ 5,703 million[(47.1)%]

Basic earnings
per share

Diluted earnings
per share

Nine months endedYenYen

December 31, 2022
December 31, 2021

116.98113.86––%1.1(20.0)

(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

250,749
229,727

104,389
100,075

40.4
42.3

December 31, 2022
March 31, 2022
Reference: Equity
As of December 31, 2022:
As of March 31, 2022:¥ 101,303 million¥ 97,253 million

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen
Yen
Fiscal year ended–0.00
March 31, 2022Fiscal year ending–
0.00
March 31, 2023
Fiscal year ending
March 31, 2023
(Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: None

Fiscal year-endTotal

Yen

YenYen–

50.00

50.00

50.00

50.00

–

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2023 (from April 1, 2022 toMarch 31, 2023)(Percentages indicate year-on-year changes.)
Net sales

Fiscal year ending
March 31, 2023

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%Yen

211,200

6.1

8,000

3.4

8,300(7.7)

5,400(16.6)

141.67

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, 2022

40,445,568 shares

As of March 31, 2022

40,445,568 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2022

2,329,458 shares

As of March 31, 2022

1,621,936 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2022

38,430,623 shares

Nine months ended December 31, 2021

39,075,545 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants oran 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 and otherresults may differ substantially from the statements herein due to a number of factors.

Furukawa Co., Ltd. (5715)

Attached MaterialIndex
1. Quarterly Consolidated Financial Statements and Significant Notes Thereto ...................................................... 2(1) Quarterly consolidated balance sheet ............................................................................................................. 2(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income ............ 4Quarterly consolidated statement of income (cumulative) ............................................................................. 4Quarterly consolidated statement of comprehensive income (cumulative) .................................................... 5
Supplementary Material on Financial Results for the Nine Months Ended December 31, 2022 ................................ 6-1-Furukawa Co., Ltd. (5715)

1. Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 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, 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-2-As of December 31, 2022

14,46917,70728,34430,711

17,205
10,813
20,8184,635(48)
96,238

21,106
12,783
26,583
10,155(57)
118,989

24,051
54,17012,754
90,976376

23,12754,092
12,912
90,132
331

35,8606,997(720)
42,136
133,489229,727

34,237
7,828(769)
41,296
131,760
250,749

Furukawa Co., Ltd. (5715)(Millions of yen)
As of March 31, 2022
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
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-salesecurities
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-3-

As of December 31, 2022

15,916
9,381
13,504
1,491
142
19,42359,85916,277
11,412
27,953
1,106
90
25,831
82,671

52,16675
2,543
239
14,76869,793
129,652

46,69277
2,631
227
14,06063,688146,360

28,2082
54,557(2,197)80,57028,2082
57,127(3,086)82,252

11,832

11,188

(292)
2,602
35
2,506
16,6832,821
100,075
229,727

296
2,586
2,597
2,382
19,051
3,085
104,389
250,749

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, 2021
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
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 investment securities
Gain on bargain purchase
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-4-

Nine months ended
December 31, 2022

147,605
128,223
19,382
13,661
5,721

156,954
136,045
20,90914,859
6,050

691
112
1,506
2,311

784
1,736
597
3,118

616

584－

786

720
1,337
6,694

909
2,280
6,887

74
414
107
596

362－
12
374

603－
333
937
6,354
1,827(103)
1,724
4,630
181
4,449

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

Furukawa Co., Ltd. (5715)

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)
Nine months ended
December 31, 2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustmentRemeasurements 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 ofparent
Comprehensive income attributable to non-controllinginterests-5-

Nine months ended
December 31, 2022

4,630

4,690

842
(409)
401
202

(643)
428
2,302
(123)

36515

1,073
5,703

2,479
7,169

5,508

6,879

194290Furukawa Co., Ltd. (5715)

Supplementary Material on Financial Results
for the Nine Months Ended December 31, 2022
February 9, 2023
Furukawa Co., Ltd.
Net sales(Yen amounts are rounded down to millions.)

Machinery business

Nine months
ended
December
31,2021Nine months
ended
December
31,2022

Fiscal year ending March 31, 2023
Year-on-yearchangePreviously
announced
forecast

Forecast

Year-onyear change
3,661

57,16960,352

3,183

82,10080,600Industrial Machinery segment

12,877

11,728(1,149)18,60017,700(23)

Rock Drill Machinery segment
UNIC Machinery segment

22,713
21,577

27,78020,843

5,067(734)35,60027,90035,00027,9004,089(405)87,82892,437

4,608

121,800

125,100

6,936

Metals segment
Electronics segment

76,643
5,346

80,753
5,287

4,109(59)106,400
7,000

109,800
6,900

6,804(371)Materials business

Chemicals segment

5,837

6,396

558

8,400

8,400

503

Real Estate segment

1,566

1,581

15

2,000

2,000(115)

Others segment

1,041

2,583

1,541

3,600

3,500

1,620

147,605

156,954

9,348

209,500

211,200

12,102Nine months
ended
December
31,2021Nine months
ended
December
31,2022Year-on-yearchangePreviously
announced
forecastForecast

Year-onyear change

3,439

3,495

55

5,200

5,500

820

842
6283632,019(479)
1,390

1,500
2,500

1,300
2,800(96)
1,682

1,968

1,112(856)

1,200

1,400(765)Materials business

1,792

2,009

217

1,300

2,000(349)

Metals segment

819

1,164

3455001,00059

Electronics segment
Chemicals segment

388584430
41442(169)300500500500(166)
(243)

Total

Operating profit

Machinery businessIndustrial Machinery segment
Rock Drill Machinery segment
UNIC Machinery segment

Fiscal year ending March 31, 2023

Real Estate segment543707164700

800

56

Others segment

(9)

(101)

(92)

(100)

(200)

(217)

(Subtotal)

5,765

6,110

345

7,100

8,100

310

Eliminations/corporate

(43)

(60)

(16)

(100)

(100)

(45)

5,721

6,050

328

7,000

8,000

265

Nine months
ended
December
31,2021Nine months
ended
December
31,2022Year-on-yearchangePreviously
announced
forecast

Forecast

Total
Exchange rate/Copper priceFiscal year ending March 31, 2023
Year-onyear change

Exchange rate

Yen/$

111.1

136.5

25.4

137.0

135.6

23.2

Copper price

$/mt

9,593

8,425

(1,168)

8,067

8,419

(1,272)-6-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 31,2021

As ofDecember 31,2022

Year-on-year change¥8.8 billion¥13.9 billion¥5.0 billion

2. Profit or loss from metal price fluctuations in the Metals segment
Nine months ended
December 31,2021
Operating profit
Of which was due to priceNine months ended
Year-on-year change
December 31,2022¥0.81 billion¥1.16 billion¥0.34 billion

fluctuations
Copper

¥1.23 billion¥1.22 billion¥(0.00) billion[¥1.02 billion][¥0.26 billion][¥(0.76) billion]

Gold[¥0.16 billion][¥0.89 billion][¥0.73 billion]-7-