Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between thistranslated document and the Japanese original, the original shall prevail.
November 7, 2023

Summary of Financial Statements for the Six Months Ended September 30, 2023
(Japanese GAAP) (Consolidated)
Name of listed company:
SINFONIA TECHNOLOGY CO., LTD.
Exchange for listed company: Tokyo Stock Exchange
Securities Code:
URL:6507
https://hibiki.sinfo-t.jp/eng/index_a.htm

Representative

Shinichi Hirano, Representative Director and President(Rounded down to the nearest million yen)
1. Consolidated financial results for the six months ended September 30, 2023 (April 1, 2023 to September 30, 2023)(1) Consolidated operating results (cumulative)
Net sales
Six months ended
September 30, 2023
September 30, 2022
Note: Comprehensive income

Millions of yen
46,792
49,054(Percentage (%) indicates the rate of year-over-year increase or decrease)
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
(4.6)
2,922 (21.2)
3,363 (22.9)
2,337 (23.3)
22.7
3,709 129.7
4,360 160.7
3,047 174.8

Six months ended September 30, 2023
Six months ended September 30, 2022
Profit per share

Six months ended
September 30, 2023
September 30, 2022

¥3,563 million¥2,807 million

26.9 %
150.0%

Diluted profit per share

Yen
82.89
108.11Yen-(2) Consolidated financial position
Total assets
As of
September 30, 2023
March 31, 2023

Net assets

Millions of yen
127,834
127,321Equity capital ratio

Millions of yen
64,04562,608%50.1
49.2(Reference) Equity capital
As of September 30, 2023 ¥64,045 million
As of March 31, 2023
¥62,608 million
2. Cash dividends

Fiscal year ended March 2023
Fiscal year ending March 2024

End offirst quarter
Yen––

Annual dividends per share
End ofEnd ofsecond quarter
third quarter
Yen
Yen
0.00
–
0.00

Fiscal year ending March 2024 (Forecast)
Note: Revisions to the most recently announced dividend forecast: Yes–

End ofperiod

Total
Yen
75.00

Yen
75.00

60.00

60.00

3. Consolidated operating results forecast for fiscal year ending March 2024(April 1, 2023 to March 31, 2024)(Percentage (%) indicates the rate of year-over-year increase or decrease)
Profit attributable toNet sales
Operating profit
Ordinary profit
Profit per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
100,000 (8.1)
8,700 (25.2)
9,000 (25.0)
6,200 (23.4)
219.90Note: Revisions to the most recently announced consolidated operating results forecast: Yes- 1 -*Notes(1) Transfer of key subsidiaries during the six months ended September 30, 2023
(transfer of specific subsidiaries that involve any changes in the scope of consolidation):

None(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and/or restatements(i) Changes in accounting policies associated with any amendments in accounting standards, etc.

No(ii) Other changes in accounting policies:(iii) Changes in accounting estimates:

NoNo(iv) Restatements:

No(4) Number of issued shares (common shares)
a Number of issued shares at the end of the period (including treasury shares)
As of September 30, 2023
b29,789,122 shares As of March 31, 2023

29,789,122 shares

Number of treasury shares at the end of the period
As of September 30, 2023

1,594,173 shares As of March 31, 2023

1,593,904 sharesc Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2023
28,195,077 shares Six months ended September 30, 2022
28,191,367 shares
Note: Number of treasury shares at the end of the period includes Sinfonia Technology’s shares held by the Board Benefit Trust (BBT)(167,500 shares in six months ended September 2023 and 167,500 shares in fiscal year ended March 2023). Sinfonia Technology’sshares held by the Board Benefit Trust (BBT) are included in the treasury shares deducted in the calculation of the average numberof shares during the period (167,500 shares in six months ended September 2023 and 171,900 shares in six months ended
September 2022).
*Summary of Financial Statements is not subject to the audit of a certified public accountant or an auditing firm.
*Explanation of proper use of financial results forecast and other special notes
The financial results forecast is based on information available as of the date of the announcement of this document. The actual results may
differ from this forecast due to different future factors.

- 2 -Quarterly consolidated financial statements
Quarterly consolidated balance sheets(Unit: Millions of yen)
As of March 31, 2023

As of September 30, 2023

AssetsCurrent assets
Cash and deposits

9,494

9,437

Notes and accounts receivable - trade, and contract assets
Merchandise and finished goods

37,331
2,467

33,3492,281Work in process
Raw materials and supplies

9,582
14,725

10,531
14,738

777
(80)

645
(95)

74,29770,888

Buildings and structures, net
Land10,936
14,61913,872
15,125

Other, net

7,278

6,456

Total property, plant and equipment

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

32,83435,454

Intangible assets

1,366

1,087

Investments and other assets
Investment securities

12,03913,576

Other
Allowance for doubtful accounts

6,913
(130)

6,897
(71)

Total investments and other assets

18,822

20,403

Total non-current assets
Total assets- 3 -53,02456,945

127,321

127,834

(Unit: Millions of yen)
As of March 31, 2023

As of September 30, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings

20,8207,360

17,167
9,570

Current portion of long-term borrowings
Income taxes payable

2,981
1,955

3,123
669

395
324

545
267

Other12,255

12,423

Total current liabilities

46,093

43,766

11,617

12,592

123

-100

124

Provision for product warranties
Provision for loss on orders received

Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors(and other officers)
Provision for share awards for directors(and other officers)
Provision for environmental measures

8-

Retirement benefit liability
Other

3,056
3,712

3,034
4,270

Total non-current liabilities

18,61920,02264,71363,789

Shareholders' equity
Share capital

10,156

10,156

Capital surplus
Retained earnings

452
40,242452
40,452

Total liabilities
Net assets

Treasury shares(1,955)(1,956)

Total shareholders' equity

48,896

49,106

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

5,933
(3)

7,007
(22)

Revaluation reserve for land
Foreign currency translation adjustment

3,913
683

3,913
1,025

Accumulated other comprehensive income

Remeasurements of defined benefit plans

3,185

3,014

Total accumulated other comprehensive income

13,712

14,93962,60864,045

127,321

127,834

Total net assets
Total liabilities and net assets- 4 -Quarterly consolidated statements of income (cumulative) and consolidated statements ofcomprehensive income (cumulative)
Quarterly consolidated statements of income (cumulative)(Unit: Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

Net sales

49,054

46,792

Cost of sales

37,60036,219Gross profit

11,454

10,572

Selling, general and administrative expenses

7,744

7,650

Operating profit (loss)

3,709

2,922

Non-operating income
Interest and dividend income

206

225

Foreign exchange gains
Other544
73

260
87

Total non-operating income

823

573

6873

Non-operating expensesInterest expenses
Other104

59

Total non-operating expenses

173

132

Ordinary profit (loss)

4,360

3,363

Profit (loss) before income taxes

4,360

3,363

Income taxes

1,312

1,026

Profit (loss)

3,047

2,337

Profit (loss) attributable to owners of parent

3,047

2,337

- 5 -

Quarterly consolidated statements of comprehensive income (cumulative)(Unit: Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

Profit (loss)

3,047

2,337

Other comprehensive income
Valuation difference on available-for-sale securities

(579)

1,074

Deferred gains or losses on hedges
Foreign currency translation adjustment

–452

(19)
342

Remeasurements of defined benefit plans, net of tax

(112)

(170)

Total other comprehensive income

(239)

1,226

Comprehensive income

2,807

3,563

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,807

3,563

–

–

Comprehensive income attributable to non-controllinginterests- 6 -Supplementary Information of the Financial Results for the Six Months Ended
September 30, 2023 [Fiscal 2023] (Consolidated)
November 7, 2023
SINFONIA TECHNOLOGY CO., LTD.
1. Summary of operating results(Unit: Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

YOY
increase/decrease

(A)

(B)

(B) - (A)Net sales
Operating profit
Ordinary profit

49,054(%)

7.6%

46,792
6.2%

8.9%

(%)

6.2%

(4.6)%(787)(21.2)%(996)(22.9)%(710)(23.3)%

2,922
7.2%

(1.7) pt

4,360

3,363
5.0%

Profit attributable to owners ofparent(2,261)(1.4)pt

3,709(%)

Increase/Decreaserate(1.2) pt

3,047

2,337

2. Information by segment(1) Net sales and operating profit(Unit: Millions of yen)Six months ended
Six months ended
September 30, 2022 September 30, 2023
(A)
MotionEquipment
Power Electronics
Equipment
Clean Transport
SystemEngineering&Service
Adjustment
amount(B)YOY
increase/decrease
Increase/Decreaserate(B) - (A)Net sales

17,27618,081805

4.7%Operatingprofit

659

1,088

428

65.0%

Net sales

8,668

10,076

1,407

16.2%

Operatingprofit

124

125

00.8%

Net sales

15,477

10,105(5,372)(34.7)%

Operatingprofit3,188

1,140(2,048)(64.2)%Net sales

7,631

8,529897

11.8%

Operatingprofit

(185)590775-Net sales----

Operatingprofit

(78)

(22)

55

-

Net sales

49,054

46,792(2,261)(4.6)%

Total

Operating
3,709
2,922(787)(21.2)%
profitNote: Because of a structure change on October 1, 2022, the Clean Transport System business, which was previously includedin the Power Electronics Equipment business, is now a reportable segment. In addition, the Support & Engineeringbusiness is renamed to the Engineering & Service business. As a result, the Company has changed its businessclassification from the three segments of the Motion Equipment business, Power Electronics Equipment business andSupport & Engineering business to the four segments of Motion Equipment business, Power Electronics Equipment
business, Clean Transport System business and Engineering & Service business.
Segment information for the second quarter of the fiscal year ended March 31, 2023 is based on the reportable segmentclassification after the change.

- 7-(2) Orders received(Unit: Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

YOYincrease/decrease

(A)

(B)

(B) - (A)Increase/Decrease
rate

Motion Equipment

19,993

18,821(1,172)(5.9)%

Power Electronics Equipment

18,461

13,754(4,707)(25.5)%

Clean Transport System

18,1709,817(8,353)(46.0)%Engineering&Service

11,970

11,249(721)(6.0)%

Total

68,59653,642(14,954)(21.8)%(3) Balance of orders received(Unit: Millions of yen)

As of September 30, As of September 30,
2022
2023
(A)

(B)

YOY
increase/decrease
Increase/Decreaserate(B) - (A)Motion Equipment

34,30835,9491,641

Power Electronics Equipment

28,392

34,381

5,988

21.1%

Clean Transport System

11,971

7,649(4,322)(36.1)%Engineering&Service

12,521

12,808

286

2.3%

Total

87,19490,788

3,594

4.1%

3. Overseas net sales

4.8%(Unit: Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

YOY
increase/decrease

(A)

(B)

(B) - (A)Overseas net sales
Overseas net sales
ratio (%)

Increase/Decreaserate

14,278

12,633(1,644)

29.1%

27.0%

(2.1) pt

4. Cash flows(11.5)%(Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

YOY
increase/decrease

(A)

(B)

(B) - (A)Increase/Decrease
rate

Operating cash flow

(647)

2,780

3,427

-

Investing cash flow

(1,351)(4,088)(2,737)-

Free cash flow

(1,998)(1,307)690-

Financing cash flow

1,014

1,164

150

14.9%

Cash and cash equivalents
at the end of the period

7,846

9,436

1,590

20.3%

5. Capital expenditures, depreciation, and research and development expenses
Six months ended
September 30, 2022

Six months endedSeptember 30, 2023

YOY
increase/decrease

(A)

(B)

(B) - (A)

(Unit: Millions of yen)

Increase/Decreaserate

Capital expenditures

2,443

3,887

1,444

59.1%

Depreciation

1,585

1,691

106

6.7%

Research and development
expenses

1,898

1,662

(236)

(12.4)%- 8-