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 Nine Months Ended December 31, 2023
[Japanese GAAP]
February 9, 2024
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 Office

Phone: +81-72-430-2100
Scheduled date of filing quarterly securities report: February 13, 2024
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 Nine Months Ended December 31, 2023 (April 1, 2023 to December 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended
December 31, 2023
22,2757.3
2,708(10.2)
2,800(10.1)
2,686
23.0
December 31, 2022
20,754
9.8
3,015
1.5
3,116
3.6
2,183
0.3
(Note) Comprehensive income:Nine months ended December 31, 2023:¥
2,756 million [8.9%]
Nine months ended December 31, 2022:¥2,531 million [9.6%]
Basic earnings
per share
Nine months ended
December 31, 2023
December 31, 2022

Diluted earnings pershare
Yen

Yen

141.66107.59-(2) Consolidated Financial Position
Total assets
Millions of yen
As ofDecember 31, 2023
41,384
March 31, 2023
39,645(Reference) Equity: As of December 31, 2023:
As of March 31, 2023:

Net assets

Capital adequacy ratio

Millions of yen¥¥31,384
31,06531,384 million
31,065 million

%

75.8
78.4

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2023-

20.00-25.00

45.00

Fiscal year ending March 31, 2024

-25.00

28.00

53.00

Year-end

Fiscal year ending March 31, 2024
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

TotalYes

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024(April 1, 2023 to March 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parentper share
Millions of yen% Millions of yen% Millions of yen

Full year
29,0002.7
3,600 (10.3)(Note) Revision to the financial results forecast announced most recently:

3,700
Yes

% Millions of yen(10.7)

3,200%Yen

7.7

169.54* Notes:(1) Changes in significant subsidiaries during the nine months ended December 31, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):
Yes
New:
1
(Company name: YINGKOU NEW YOTAI REFRACTORIES CO., LTD.
Exclusion:
1(Company name: YINGKOU YOTAI IMPORT AND EXPORT CO., LTD.
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:(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):December 31, 2023:
20,664,000 shares
March 31, 2023:
25,587,421 shares
2) Number of treasury shares at the end of the period:
December 31, 2023:
2,048,640 shares
March 31, 2023:
5,956,393 shares
3) Average number of shares outstanding during the period:
Nine months ended December 31, 2023:
Nine months ended December 31, 2022:

18,961,507 shares
20,300,006 shares))
NoQuarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Thousands of yen)
As of March 31, 2023
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
Other
Allowance 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 December 31, 2023

5,841,039

6,025,474

10,158,486

10,695,030

2,288,441

1,830,838

4,992,441
373,982
6,077,541
209,798(4,569)29,937,162

5,321,142
297,224
5,928,794
179,079(1,800)30,275,784

6,556,643
147,475

7,281,557
320,9122,748,304
274,947(18,920)
3,004,330
9,708,450
39,645,612

3,373,484
137,248(4,091)
3,506,641
11,109,111
41,384,896

(Thousands of yen)
As of March 31, 2023
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 December 31, 2023

2,125,440
2,334,805
601,201-

2,628,105
2,371,485
368,540
169,180

34,80025,275

1,824,345
6,920,5912,608,612
8,171,198

1,440,736
219,118
1,659,855
8,580,446

1,471,471
357,649
1,829,121
10,000,320

2,654,519
1,802,929
29,005,082(3,795,179)
29,667,352

2,654,519
1,717,169
27,689,552(2,145,132)
29,916,109

1,098,572

1,531,156(8,120)345,417(38,056)
1,397,813
31,065,165
39,645,612(37,621)
7,877(32,945)1,468,467
31,384,576
41,384,896

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the nine months)(Thousands of yen)
For the nine months
ended December 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Rental income from real estate
Other
Total non-operating income
Non-operating expenses
Interest expenses
Commission for purchase of treasury shares
Loss on retirement of non-current assets
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
GainOnSaleOfInvestmentsInCapitalOfSubsidiariesAndAssociatesEI
Total extraordinary income
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 nine months
ended December 31, 2023

20,754,624
15,934,450
4,820,174
1,804,263
3,015,911

22,275,924
17,646,550
4,629,373
1,920,975
2,708,397

6,348
96,142
1,823
13,092
18,548135,955

7,631
112,506
7,367
12,76318,024
158,292

211
6,584
20,8297,403
35,0293,116,837

373
28,35635,323
2,058
66,1112,800,578

3,116,837
863,233
69,605
932,8392,183,998
2,183,998

923,286923,286
3,723,865
941,409
96,2901,037,700
2,686,165
2,686,165

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Thousands of yen)
For the 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
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

For the nine months
ended December 31, 2023

2,183,998

2,686,165

183,137(11,362)
166,5118,806
347,092
2,531,090

432,583(29,500)(337,540)
5,111
70,6532,756,819

2,531,090

2,756,819--