Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2022
(Based on Japanese GAAP)
August 12, 2022
Company name:
Ashimori Industry Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

3526
President

URL

https://www.ashimori.co.jp
Shigeyuki Washine

Inquiries:

General Manager , Finance&Accounting
Dept.

Hiroki Kane

TEL

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

August 12, 2022–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:NoNo

06-6105-1863(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profitOrdinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Three months ended June 30, 2022
13,951
11.6
9–
327
–239
–
Three months ended June 30, 2021
12,49623.9(273)–(275)–(370)–
Earnings per share

Diluted earnings per share

Yen
39.91
(61.67)

Three months ended June 30, 2022
Three months ended June 30, 2021

Yen
39.83
–

(2) Consolidated financial position
Total assets

Net assets

Millions of yen
51,12350,283As of June 30, 2022
As of March 31, 2022

Equity ratio

Millions of yen
17,237
17,263%33.6
34.3

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
25.00

Yen
25.00

0.00

–

50.00

50.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Net sales
Full year

Millions of yen
57,000Percentages indicate year-on-year changesProfit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen
6.5
1,300 142.5
1,250
86.1
1,000
96.0
166.52

1

4. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

NoNo

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022

6,056,939 shares As of March 31, 2022

6,056,939 shares

51,621 shares As of March 31, 2022

51,606 shares

Number of treasury shares at the end of the period
As of June 30, 2022

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2022

6,005,323 shares Three months ended June 30, 2021

2

6,003,954 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of June 30, 2022

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

2,390
13,420

5,056
11,005

Electronically recorded monetary claims - operating
Merchandise and finished goods

2,013
2,147

1,920
2,158

Work in process
Raw materials and supplies

1,237
7,327

1,422
7,480

Other
Allowance for doubtful accounts

1,718(194)1,870(201)

Total current assets

30,06230,711

Buildings and structures, net
Machinery, equipment and vehicles, net

5,230
3,650

5,351
3,677

Tools, furniture and fixtures, net
Land

1,546
5,606

1,499
5,645

36
632

68
672

16,704

16,914761

721

Non-current assets
Property, plant and equipment

Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Goodwill
Other

275

267

1,037

988

Investment securities
Long-term loans receivable

1,247
0

1,279
0

Deferred tax assets
Retirement benefit asset

760
265

749
273

Other
Allowance for doubtful accounts

226(20)226(20)Total investments and other assets

2,479

2,508

20,221

20,41150,28351,123

Total intangible assets
Investments and other assets

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2022

As of June 30, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade

6,074

6,019

Electronically recorded obligations - operating
Short-term borrowings

4,628
4,960

4,381
4,334

Current portion of long-term borrowings
Lease liabilities

2,158
16

2,516
17

Accounts payable - other
Income taxes payable

1,084
162

1,147
70

Accrued consumption taxes
Provision for bonuses

25499

157
270

Provision for bonuses for directors (and other officers)
Provision for product warranties

897

–94

Other provisions
Other

213
1,504

44
2,299

Total current liabilities

21,43521,352

Non-current liabilities
Bonds payable

3,0003,000

Long-term borrowings
Lease liabilities

6,438
33

7,321
65

Retirement benefit liability
Provision for product warranties

1,969
30

2,002
28

Asset retirement obligations
Other

29
84

29
84

Total non-current liabilities

11,584

12,53333,02033,885

Shareholders' equity
Share capital

8,388

8,388

Capital surplus
Retained earnings

1,632
7,120

1,632
7,209

Total liabilities
Net assets

Treasury shares

(151)

(151)

16,98917,078Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

212
(4)

244
(679)

Foreign currency translation adjustment
Remeasurements of defined benefit plans

(4)
32518
36

Total accumulated other comprehensive income

235

119

21
17

21
17

17,263

17,23750,28351,123

Total shareholders' equity
Accumulated other comprehensive income

Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

June 30, 2021June 30, 2022

Net sales
Cost of sales

12,496
11,153

13,951
12,357Gross profit

1,343

1,593

Selling, general and administrative expenses

1,616

1,583

Operating profit (loss)(273)

9Interest income
Dividend income

34

3
10

Rental income
Foreign exchange gains

5–

6314

Subsidy income
Other

1631

2725

Total non-operating income

61387

Non-operating income

Non-operating expenses
Interest expenses

3135

Rental costs
Share of loss of entities accounted for using equity method

214

2
17

Foreign exchange losses
Other

77–
14

Total non-operating expenses
Ordinary profit (loss)

63

69(275)

327

50

–

Extraordinary losses
Product warranty loss
Total extraordinary losses

50–

Profit (loss) before income taxes

(325)

327

Income taxes - current

139

44

Income taxes - deferred

(93)

43

Total income taxes
Profit (loss)
Profit (loss) attributable to non-controlling interests
Profit (loss) attributable to owners of parent

545

87(370)239(0)

0(370)

239

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

Profit (loss)
Other comprehensive income

Three months endedThree months ended

June 30, 2021

June 30, 2022
(370)

239

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

6(7)32(674)Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

249
(3)

516
3

Share of other comprehensive income of entities accounted
for using equity method

22

6Total other comprehensive income
Comprehensive income

267

(115)

(102)

123

(102)

123(0)

0Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6