Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Three Months Ended June 30, 2022
[Japanese GAAP]
August 05, 2022
Company name: YOTAI REFRACTORIES CO.,LTD.
Stock exchange listing: Tokyo
Code number: 5357
URL: https://www.yotai.co.jp/
Representative: Mitsuo TaguchiContact: Shinichiro Takebayashi

President
Managing Director, General Manager of General Affairs
Department of Head OfficePhone: 072-430-2100
Scheduled date of filing quarterly securities report: August 08, 2022
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 01, 2022 to June 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%Three months ended
June 30, 2022
7,126
12.5
1,057
(0.2)
1,099
0.4
770(1.3)
June 30, 2021
6,335
6.6
1,059
52.1
1,095
50.8
780
58.6
(Note) Comprehensive income:Three months ended June 30, 2022:¥871 million [11.6%]
Three months ended June 30, 2021:¥781 million [46.7%]
Basic earnings
per share
Three months ended
June 30, 2022
June 30, 2021

Diluted earnings pershare
YenYen37.46
36.05-(2) Consolidated Financial Position
Total assets
As ofJune 30, 2022
March 31, 2022
(Reference) Equity:

Net assets

Million yen

38,47638,750
As of June 30, 2022:
As of March 31, 2022:

Capital adequacy ratio

Million yen¥¥

30,15230,10930,152 million
30,109 million

%

78.4
77.7

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2022

-16.00-27.00

43.00

Fiscal year ending March 31, 2023

18.00

-

18.00

36.00

Fiscal year ending March 31, 2023
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-endTotalNo

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(April 01, 2022 to March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable Basic earnings
Net sales
Operating profit
Ordinary profit
to owners of parent
per share
Million yen%

Million yen%

Million yen%

Million yen%

1,750

(18.9)

1,200(25.5)

58.22

3,500No(15.1)

2,400(19.1)

116.45(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:

NoSix months ended
13,2507.5
1,700 (20.7)
September 30, 2022
Full year
26,5002.3
3,400 (16.9)(Note) Revision to the financial results forecast announced most recently:* Notes:(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2022:
25,587,421 shares
March 31, 2022:
25,587,421 shares2) Total number of treasury shares at the end of the period:
June 30, 2022:
5,156,683 shares
March 31, 2022:
4,977,129 shares
3) Average number of shares during the period:
Three months ended June 30, 2022:
Three months ended June 30, 2021:

20,579,492 shares
21,659,322 shares

YenQuarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Thousand yen)
As of March 31,2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims operating
Finished goods
Work in process
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
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

As of June 30,2022

8,537,563

6,587,589

9,851,329

10,178,254

2,554,830

2,617,901

3,960,175
280,783
4,772,665
327,940(2,894)30,282,393

4,140,937
323,436
4,653,246
1,361,674(4,822)
29,858,217

5,838,968
71,284

5,946,444
86,2452,279,417
295,357(16,986)
2,557,789
8,468,042
38,750,436

2,300,761
301,485(16,174)
2,586,072
8,618,762
38,476,980

(Thousand yen)
As of March 31,2022
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Retirement benefit liability
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
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

As of June 30,2022

2,387,340
2,104,994
724,299-

2,397,416
2,434,054
297,668
154,300

35,6009,510

1,983,827
7,236,062

1,630,095
6,923,044

1,381,292
23,5801,404,872
8,640,935

1,383,573
17,7761,401,349
8,324,393

2,654,519
1,762,031
26,994,021(2,319,009)
29,091,563

2,654,519
1,793,177
27,208,468(2,622,363)
29,033,803

757,432

771,026468
285,705(25,668)
1,017,937
30,109,501
38,750,436

68
370,421(22,733)
1,118,782
30,152,586
38,476,980

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Thousand yen)
For the three months
ended June 30,2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend incomeRental income from real estate
Other
Total non-operating income
Non-operating expenses
Interest expenses
Commission for purchase of treasury shares
Foreign exchange losses
Loss on retirement of non-current assets
Other
Total non-operating expenses
Ordinary profit
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

For the three months
ended June 30,2022

6,335,274
4,663,472
1,671,802
612,446
1,059,355

7,126,968
5,445,660
1,681,307
624,170
1,057,136

1,520
35,063
5,069
6,103
47,7562,303
47,401
4,916
5,523
60,145

210
3,270
2,465
3,500
2,338
11,784
1,095,328
1,095,328
245,022
69,538314,561
780,766
780,766

72
1,927
9,435
2,439
3,612
17,4881,099,793
1,099,793
261,843
67,024
328,868
770,925
770,925

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Thousand yen)
For the three months
ended June 30,2021
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
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

For the three months
ended June 30,2022

780,766

770,925(42,823)(7,780)47,2334,010
640
781,406

13,594(399)
84,715
2,935
100,845871,770

781,406

871,770--