B U S I N E S S

R E P O R T

To S h a r e h o l d e r s a n d I n v e s t o r s

Business Reportfor the 90th Term
From April 1, 2022 to March 31, 2023

Securities Identiﬁcation Code: 6455

T O P M E S S A G E G r eet i ng
Thank you for your continuing support.
The Morita Group was founded in 1907. The engineering

We define our purpose - our reason for being in society - asfollows.

and manufacturing skills we learned along the way, after

Precisely because this is an era of radical change and highdeveloping Japan’s first gasoline-powered fire pump, became

uncertainty, we believe it is more important than ever to clarify

the foundation that allowed us to continue taking firefighting

our reason for being and the values we can provide to society,technology forward, and we have constantly safeguarded theand bring together the capabilities of people with an unflagging

lives and assets of people from fires and disasters. Today, we

passion for change.

safeguard human lives and the environment more broadly by

Our commitment to this remains continuing and unwavering,developing recycling facilities and environmental conservation

as we dedicate ourselves to securing a future filled with peacevehicles.

of mind. Through our advanced technology - the source of somany groundbreaking products - we must constantly reinvent

Safeguarding lives and the environment. Securing peace of mind.

ourselves, and keep tackling the challenges of creating aTechnology, powered by visionary challenge.

sustainable future. I hope we can count on your continuing
support for the Morita Group as we move forward.

Masahiro Nakajima Chairman & CEO
Shinichi Kanaoka PresidentthOverview of 90 Term
Net sales

Operating income¥81,344 million ¥5,081 million
Y ea r on ye ar

Down 2.7％

Y ear on year

Down 37.4％

Ordinary income¥5,913 million
Ye a r o n y e a r

Down 32.5％

Profit attributable toowners of parent¥3,996 million
Ye a r o n y e a r

Down 25.3％

The outlook for the Japanese economy remained uncertain

the previous period, the orders received increased by 9,384

during the period of this consolidated fiscal year, including due tomillion yen to 84,876 million yen (up 12.4%), and net sales

significant fluctuations in foreign exchange rates, soaring energy

decreased by 2,258 million yen to 81,344 million yen (downand raw material prices, and semiconductor supply shortages.

2.7%). As for profit and loss, in comparison with the previous

In addition to this environment, our group also experienced

consolidated fiscal year, operating income decreased by 3,033

instability in the supply schedules for chassis for our firefighting

million yen to 5,081 million yen (down 37.4%), ordinary incomeand environmental vehicle business, but we worked to improvedecreased by 2,848 million yen to 5,913 million yen (downthe efficiency of production.

32.5%), and profit attributable to owners of the parent decreased

In the results for this consolidated fiscal year, in comparison withby 1,353 million yen to 3,996 million yen (down 25.3%).

Establishment of the Morita's Philosophy
M o r i t a's P h i l o s o p h y
In April 2022, our company established a Sustainability Committee and began sustainability initiatives in earnest.
As part of these efforts, we revised and redefined our previous corporate philosophy in response to the trends ofthe times and the demands of society, and in March 2023, we reformulated it into a new Morita's Philosophy. We
defined that the reason for the existence of our group in the era of sustainability is our purpose of "Safeguarding
lives and the environment. Securing peace of mind. Technology, powered by visionary challenge.” We clarified ourvision of what we want to become as “To be a valued and respected company by serving to shape a safe, accessible, and thriving society" and we defined the values that we should hold to realize this vision.

▼Morita's Philosophy
PurposeOur reason for being insociety

VisionThe society we envisionand our aspirations

Values

The important ideals

MORITA NEWS
Mid-term Plan Toward Strengthening Basic Research Capabilities and New Product Development Capabilities~ Start of operations at the “Morita ATI Center” research and development base ~As was stated in the basic policy of “Morita Reborn 2025,” the Morita Group is working to strengthen its basic research capabilities
and new product development capabilities by consolidating its previously scattered R&D sites in Yao City in Osaka Prefecture. Thenew Morita ATI Center (in grounds of 15,674 m 2) will begin full-scale operations in July 2023.

The Morita ATI Center, a new researchbase for comprehensive disaster prevention solutions, consists of three buildings, which are named “A-Field”, “T-Tower”, and “I-Cube”.
The comprehensive test site (25m × 32m × 18m high) in “A-Field” is equipped with one of the largest combustion test sites in westernJapan, a dust collector and wastewater treatment equipment. Together with the water discharge passage (30m × 7m × 15m high), it
can evaluate water and foam emissions in a windless environment up to 55m long. “T-Tower” is a training tower of a height equivalent
to an 11-story apartment building (33m high). It will be used for the planning and demonstration of firefighting and rescue tactics forvarious situations, the development of new products, and operational training. “I-Cube” aims to be a workplace that inspires open
innovation and communication in a comfortable space with cutting-edge technology, to realize research and development that willprotect human life and the Earth, and to be a research facility that also realizes collaboration between industry and academia andco l l a b o ra t i o n w i t h o t h e r co m p a n i e s .
F u r t h e r m o r e , a t o t a l o f 1, 2 0 0 m 2 o f▼Morita ATI Center

photovoltaic panels have been installedo n t h e ro o f to p to e n a b l e t h e u s e o fenergy-saving technologies and naturalenergy for cost effectiveness.
Based on it s purp ose of " Protec tingI-CubeT-Tower
A-Field

human life and the Earth with technologyt h a t s u p p o r t s p e a ce o f m i n d a n d bycontinually taking on the challenges," theMorita Group aims to be a company thatdelivers unchanging peace of mind to theworld with its advanced technologicalcapabilities.

Cover Page

Picture drawn by Himari Fujiki (6th grader *at the time of application),winner of the first prize in the 18th "Future fire truck" idea contest for elementary students nationwide.

OPERATIONHIGHLIGHTS

Financial Highlights (Consolidated)
Profit attributable toowners of parent

Operating income

Net sales
Unit: Millions of yen

Unit: Millions of yen

Unit: Millions of yen

6,971

86,922 84,667 83,602
81,344

8,855

8,855

8,115

6,224

5,350
3,996

5,081

2020.32021.32022.32023.32020.3Operating income to net sales

2021.32022.32023.32020.3Return on equity（ROE）

Unit: %

2021.32022.32023.3

Dividend on equity（DOE）

Unit: %

Unit: %

10.2
10.2

10.5

8.4

9.7

2021.32022.3

2.4

2.4

2.4

2020.32021.32022.3

2023.3

4.9

6.2

2020.32.5

6.7

2023.32020.32021.32022.32023.3

Performance by Segment
Fire Protection Equipment& Systems BusinessFire Fighting Vehicles Business

Ne t sales

Operating income

N e t s a le sOperating income

Year on year

Year on year

Year on year

Year on year

20,829million yen
Up 7.2％

2,023million yen
Up 54.8％

Both sales and income
increased thanks to increased
demand for fire extinguishers
as well as steady sales of fire
extinguishing equipment.

Environmental Conservation
Vehicles Business

Down 8.7％

12.0%

Operating income

Year on yearYear on year

9,758million yen 586million yen

Net sales
composition

7.2%

Down 18.1％
Although orders were strong,sales and profits decreased
due to delays in the chassis
supply.

1,771million yen
Down 67.6％

Although orders were strong, both inJapan and overseas, sales and profits
decreased due to the impact ofchassis supply delays on production
and soaring raw material prices.

25.6%

Ne t sale s

Down 1.3％

44,869million yen

55.2%

Recycling Machines BusinessN e t s a le sOperating income

Year on year

Year on year

5,887million yen
Up 14.2％

Produc t sales werestro ng an d b oth s alesand profit increased.

702million yen
Up 13.2％

Company Profile and Stock Information
Company Name

MORITA HOLDINGS CORPORATION

Major Group Companies

FoundedApril 23, 1907

MORITA CORPORATION

Established

July 23, 1932

Paid-in capital

4,746 million yen

Osaka Head Office

3-6-1 Dosho-machi, Chuo-ku, Osaka-shi, Osaka

Tokyo Head Office

5-36-7 Shiba, Minato-ku, Tokyo

Business

Control/management of business activities ofDevelopment, manufacturing and sales of ladder trucks,
fire trucks, and specialty vehiclesgroup companies, and being entrusted withindirect management operations

Executives
Chairman & CEO

Masahiro Nakajima

President

Shinichi Kanaoka

Director and Managing Executive Officer

Kunio Morimoto

Director and Managing Executive Officer

Shinya Murai

Director

Mitsuo Isoda

Director

Takao Kawanishi

Director

Masaki Hojo

Director

Masayoshi Kato

Director

Hiroyuki Fukunishi

Full-Time Corporate Auditor

Eiji Asada

Auditor

Masaru Ota

AuditorShozo Nishimura

AuditorMari Kaneko

Managing Executive Officer

Mitsuru Ito

MORITA MIYATACORPORATION

3-5-7 Ariake, Koto-ku, Tokyo, 135-0063, Japan

MORITAENVIRONMENTAL TECHCORPORATION

1530 Konoda-cho, Funabashi-shi, Chiba, 2740081, Japan

Information about the Stock
Fiscal Year

April 1 to March 31

Annual General

June

Meeting of Shareholders
Annual General Meeting of Shareholders - March 31
Year-end Dividend - March 31
Interim Dividend - September 30
Other dates published in advance as necessary

Method of Public Notice

Posted as electronic public notice on company website
https://www.morita119.com/en/about/ir/shareholders_meeting/index.html

Development, manufacturing and sales of fire
extinguishing-related equipment, mainly offire extinguishers, firefighting equipment andother fire protection equipment

Design and construction of waste recycling facilities
and other waste disposal facilities. Development,
manufacturing and sales of large hydraulic equipment

MORITA ECONOSCORPORATION

28 Techno Park, Sanda-shi, Hyogo, 669-1339, Japan
Development, manufacturing and sales of environmental
conservation vehicles such as sanitation vehicles andgarbage trucks

MORITA TECHNOSCORPORATION

32 Techno Park, Sanda-shi, Hyogo, 669-1339,
Japan
Aftercare service and maintenance of fire trucks and of rescueequipment. Development, manufacturing and sales of electronic
applied machinery and information processing machinery

BRONTO SKYLIFT OY AB

Teerivuorenkatu 28, FI-33300 Tampere, Finland
Development, manufacturing and sales of combined
platform ladders and aerial platforms

Breakdown of Shares
by Type of Shareholder

As of March 31, 2023

Treasury shares 6.6％

Securities companies

0.7％

Other Japanese
corporations

7.4％

Non-Japanese
corporations

15.4％

Reference Dates

1-5 Techno Park, Sanda-shi, Hyogo, 669-1339,
Japan

Total

46,918,542
sharesFinancial institutions

Individuals/others

40.1％

29.8％

Major Shareholders (Top 10)

As of March 31, 2023

N a meNo. of shares(thousand)

The Master Trust Bank of Japan, Ltd. (Trust account)

4,619

Morita Trading-Partner Shareholding Association

2,282

The Dai-ichi Life Insurance Company, Limited

2,123

Shareholder Registry

Sumitomo Mitsui Trust Bank, Limited

Administrator

1-4-1 Marunouchi, Chiyoda-ku, Tokyo

Mizuho Bank, Ltd.

2,087

Handling Office ofStock Transfer Agency Department, Sumitomo

Shareholder Registry

Mitsui Trust Bank, Limited

MUFG Bank, Ltd.

2,048

Administrator

4-5-33 Kitahama, Chuo-ku, Osaka-shi, Osaka

Sumitomo Mitsui Banking Corporation

2,007(Postal Address)

Stock Transfer Agency Department,

Sumitomo Mitsui Trust Bank, Limited

1,828

2-8-4 Izumi, Suginami-ku, Tokyo, 168-0063

Custody Bank of Japan, Ltd.

1,792

(Telephone Inquiries)+81-3-3323-7111

AIR WATER INC.

(Internet Website URL)

https://www.smtb.jp/personal/procedure/agency/

1,730

Stock Exchang Listing

Tokyo Stock Exchange

Number of shares per unit

100 shares

NORTHERN TRUST CO. (AVFC) RE THE HIGHCLERE
INTERNATIONAL INVESTORS SMALLER COMPANIES
FUND

1,151

Sumitomo Mitsui Trust Bank, Limited

Notes: 1. Number of shares held is rounded down to the nearest thousand shares.
2. The Company holds treasury shares numbering 3,111 thousand shares.

Osaka Head Office

3-6-1 Dosho-machi, Chuo-ku, Osaka-shi, Osaka, 541-0045
Tel. +81-6-6208-1907

Tokyo Head Office

5-36-7 Shiba, Minato-ku, Tokyo, 108-0014
Tel. +81-3-6400-3480

https://www.morita119.com/en/