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, 2023
(Based on Japanese GAAP)
Company name:May 11, 2023

Optorun Co., Ltd.

Stock exchange listing: Tokyo
Stock code:
6235

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

Representative:

Representative Director and President/CEODirector and Executive Officer
General Manager of Corporate Management
Inquiries:
Dept.
Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

Bin Fan

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

Yes
Yes

Mitsuo Yamada

TEL 03-6635-9487

May 11, 2023－
(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated Results for Year Ended December 31, 2023 (January 1, 2023 to March 31, 2023)(1) Consolidated operating results
Net sales

Three months ended March 31, 2023Three months ended March 31, 2022

Millions ofyen
9,063
5,117%
77.1(25.6)

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
2,613
253.1
1,814
64.4
1,402
133.0
740
(55.7)
1,103(49.1)
602(58.6)
Diluted earnings per share

Yen

Three months ended March 31, 2023
Three months ended March 31, 2022

Yen

32.24
13.93

31.64
13.61

Total assets
Millions of yen
84,777
82,916

Net assets
Millions of yen51,997
52,158(2) Consolidated financial position

As of March 31, 2023
As of December 31, 2022
2. Cash dividends

1st quarter-end

Year ended December 31, 2022
Year ended December 31, 2023

Yen

Equity ratio%
61.3
62.9

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

Year ending December 31, 2023 (Forecast)Fiscal year-end
Yen

Total

Yen

0.00

－

50.00

50.00

0.00

－

50.00

50.00

3. Forecast of consolidated financial results for the year ending December 31, 2023
Net sales
Full year

Millions of yen35,500

Operating profit%

3.5

Millions of yen

8,600

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

Ordinary profit%

15.5

Millions of yen

8,600%(1.9)

Millions of yen

6,200%(10.0)

Yen

142.58

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2023

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:
NoChanges 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, 2023

44,358,000 shares

As of December 31, 2022

44,358,000 shares

837,174 shares As of December 31, 2022

873,174 shares

Number of treasury shares at the end of the period
As of March 31, 2023

Average number of shares during the period
As of March 31, 2023

43,510,026 sharesAs of March 31, 2022

43,228,441 shares

Consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of December 31, 2022

As of March 31, 2023

AssetsCurrent assets
Cash and deposits

34,922,724

33,925,973

Notes and accounts receivable - trade
Work in process

7,973,007
9,969,933

7,329,538
11,490,557

Raw materials and supplies
Other

10,459,880
2,625,341

11,240,068
2,683,880(549,643)(541,160)

65,401,243

66,128,856

8,835,485

9,571,762

Goodwill
Other

485,482
55,086454,606
61,344

Total intangible assets

540,569

515,951

Investment securities
Investments in capital

350,000
5,690,765

350,000
5,860,012

Deferred tax assets
Other817,515
1,280,655

1,075,441
1,275,298

Total investments and other assets

8,138,936

8,560,752

17,514,991

18,648,466

82,916,234

84,777,323

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

Investments and other assets

Total non-current assets
Total assets3

(Thousands of yen)
As of December 31, 2022

As of March 31, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade

4,785,161

4,672,249

400,000
13,713400,000
10,2431,000,039
19,059,974

796,105
20,945,943

Provision for bonuses
Provision for bonuses for directors

432,618
160,700

185,739－Provision for product warranties
Other

234,216
2,313,959

344,0112,815,123

Total current liabilities

28,400,382

30,169,417

5,180

4,951

Deferred tax liabilities
Retirement benefit liability

1,929,179
204,722

2,177,006
209,998

Asset retirement obligations
Other

61,761
156,359

61,961
156,399

Total non-current liabilities

2,357,204

2,610,318

30,757,586

32,779,735

Shareholders' equity
Capital stock

400,000

400,000

Capital surplus
Retained earnings

9,646,360
38,964,201

9,655,143
38,192,797(57,646)(55,269)

48,952,915

48,192,671

Foreign currency translation adjustment

3,187,970

3,788,750

Total accumulated other comprehensive income

3,187,970

3,788,750

17,761

16,16452,158,647

51,997,587

82,916,234

84,777,323

Short-term loans payable
Lease obligations
Income taxes payable
Contract liabilities

Non-current liabilities
Lease obligations

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, 2022

March 31, 2023

Net sales
Cost of sales

5,117,233
2,991,185

9,063,015
4,485,218

Gross profit

2,126,048

4,577,796

Selling, general and administrative expenses

1,385,907

1,964,099

740,141

2,613,696

Interest income
Rental income

20,385
5,889

26,96913,757

Foreign exchange gains
Subsidy income

346,453
1,831

－
226－
2,483

58,051
4,106

377,042

103,111101

157

13,296

9,813－－

13,572869,237

－
0

8,592
534

Operating profit
Non-operating income

Gain on adjustment of account payable
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodForeign exchange losses
Loss on valuation of derivatives
Rental expenses
OtherTotal non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes

13,398

901,909

1,103,785

1,814,898

62－

62－

0－

0－

1,103,848

1,814,898

Income taxes

496,912414,104

Profit606,935

1,400,794

Profit attributable to non-controlling interests
Profit attributable to owners of parent

5

4,892(2,042)

602,043

1,402,837

Consolidated statements of comprehensive income(Thousands of yen)Three months ended
March 31, 2022
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, 2023

606,935

1,400,794

1,419,014

520,299245,699

80,926

1,664,713

601,226

2,271,649

2,002,020

2,265,862
5,786

2,003,617(1,596)Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6