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

Summary of Consolidated Financial Resultsfor Three months ended March 31, 2022
(Based on Japanese GAAP)
Company name:May 12, 2022

Optorun Co., Ltd.

Stock exchange listing: Tokyo
Stock code:
6235

URL http://www.optorun.co.jp

Representative:

Representative Director and President/CEODirector and Executive OfficerBin Fan

Inquiries:

General Manager of Corporate Management Mitsuo Yamada
Dept.

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

May 12, 2022
-Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
Yes

TEL 03-6635-9487(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated Results for Year Ended December 31, 2022 (January 1, 2022 to December 31, 2022)(1) Consolidated operating results
Net sales

Three months ended March 31, 2022Three months ended March 31, 2021

Millions ofyen
5,117
6,880%(25.6)
0.6

Earnings per share

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent
Millions ofMillions ofMillions of%%%
yen
yen
yen
740
(55.7)
1,103(49.1)
602(58.6)
1,672
3.5
2,170
19.5
1,453
0.5

Diluted earnings per share

Yen

Yen

13.93
33.76

Three months ended March 31, 2022
Three months ended March 31, 2021

13.61
32.88

(2) Consolidated financial position
Total assets
Millions of yen
68,745As of March 31, 2022
64,674As of December 31, 2021

Net assets
Millions of yen
46,21346,083

2. Cash dividends

Year ended December 31, 2021
Year ended December 31, 2022
Year ending December 31, 2022 (Forecast)

1st quarter-end
Yen－－

Equity ratio%
67.2
71.2

Annual dividends per share
2nd quarter-end 3rd quarter-end
Fiscal year-end
Yen
Yen
Yen

Total

Yen

0.00

－

50.00

50.00

0.00

－

42.00

42.00

3. Forecast of consolidated financial results for the year ending December 31, 2022
Net sales
Full year

Operating profitPercentages indicate year-on-year changes
Profit attributable toEarnings per shareowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

31,9003.3

6,500(7.5)

6,300(20.3)

4,600(27.3)

106.44

4. Notes(1) Changes in significant subsidiaries during the year ended December 31, 2022

No(2) 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:
YesChanges in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2022

44,358,000 shares

As of December 31, 2021

44,358,000 shares

1,081,692 shares As of December 31, 2021

1,141,692 shares

Number of treasury shares at the end of the period
As of March 31, 2022

Average number of shares during the period
As of March 31, 2022

43,228,441 shares

As of March 31, 2021

43,043,986 shares

Consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of December 31, 2021

As of March 31, 2022

AssetsCurrent assets
Cash and deposits

32,273,511

32,046,066

Notes and accounts receivable - trade
Work in process

6,013,382
7,050,959

5,599,259
8,331,915

Raw materials and supplies
Other

5,804,136
2,389,818

8,564,407
1,705,236

Allowance for doubtful accounts(386,509)(340,787)

53,145,299

55,906,097

4,526,761

5,206,141

GoodwillOther610,733
66,361

597,053
62,704

Total intangible assets

677,094

659,758

Total current assets
Non-current assets
Property, plant and equipment
Intangible assets

Investments and other assets
Investment securities

350,000

350,000

Investments in capital
Deferred tax assets

5,237,111
354,334

5,777,857
434,707

Other
Total investments and other assets
Total non-current assets
Total assets

3

384,189

410,457

6,325,635

6,973,022

11,529,492

12,838,922

64,674,791

68,745,019

(Thousands of yen)
As of December 31, 2021

As of March 31, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade3,246,321

4,153,649

400,000
54,000400,000
37,500

Lease obligations
Income taxes payable

17,614
1,389,156

14,212289,248

Advances received
Contract liabilities

9,830,666－－
13,873,060

296,775
257,965

148,393
188,360

Other

1,564,039

1,588,781

Total current liabilities

17,056,540

20,693,206

15,701
1,180,914

12,6491,483,702

Retirement benefit liability
Other179,987
157,923

184,939
157,386

Total non-current liabilities

1,534,526

1,838,677

18,591,067

22,531,884

Shareholders' equity
Capital stock

400,000

400,000

Capital surplus
Retained earnings

9,454,013
34,235,194

9,468,655
32,676,421(75,318)(71,359)

44,013,889

42,473,717

Foreign currency translation adjustment

2,056,449

3,720,245

Total accumulated other comprehensive income

2,056,449

3,720,245

13,385

19,172

46,083,724

46,213,135

64,674,791

68,745,019

Short-term loans payable
Current portion of long-term loans payable

Provision for bonuses
Provision for product warranties

Non-current liabilities
Lease obligations
Deferred tax liabilities

Total liabilities
Net assets

Treasury shares
Total shareholders' equity
Accumulated other comprehensive income

Non-controlling interests
Total net assets
Total liabilities and net assets

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

Three months ended

March 31, 2021

March 31, 2022

Net sales
Cost of sales

6,880,021
3,694,090

5,117,233
2,991,185

Gross profit

3,185,931

2,126,048

Selling, general and administrative expenses

1,513,634

1,385,907

Operating profit

1,672,296

740,141

Interest income
Rent income

4,961
10,036

20,3855,889

Foreign exchange gains
Subsidy income

515,471
14,252

346,453
1,831

Non-operating income

Other

12,0102,483

Total non-operating income

556,732

377,042

141
58,291

101
13,296380Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses

58,471

13,3982,170,557

1,103,785

Gain on sales of non-current assets－62

Total extraordinary income－62

Loss on retirement of non-current assets

51,3760Total extraordinary losses

51,3760

2,119,181

1,103,848

658,925

496,9121,460,256

606,935

Ordinary profit
Extraordinary income

Extraordinary losses

Profit before income taxes
Income taxes - current
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

5

7,030

4,892

1,453,225

602,043

Consolidated statements of comprehensive income(Thousands of yen)Three months ended
March 31, 2021
ProfitOther comprehensive income
Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income

Three months ended
March 31, 2022

1,460,256

606,935

920,006

1,419,014

219,910245,699

1,139,916

1,664,713

2,600,172

2,271,649

2,592,428
7,744

2,265,862
5,786

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

6