News Release: OKADA AIYON CORPORATION(6294 TSE Prime)
November 10, 2023

Notice of Difference between Consolidated Business Forecasts andActual Results for the First Half of the Fiscal Year Ending March 31, 2024,
Revision of Full-year Business Forecasts, and Revision of Dividend Forecast
OKADA AIYON CORPORATION announces the difference between the consolidated business forecasts forthe first half of the fiscal year ending March 31, 2024 (April 1, 2023 to September 30, 2023) announced onMay 11, 2023 and the actual results announced today as follows.
In addition, at the Board of Directors meeting held today, the Company has resolved to revise its
consolidated business forecasts and the dividend forecast per share for the fiscal year ending March 31,2024 (April 1, 2023 to March 31, 2024) announced on May 11, 2023.
1. Difference between forecasts and actual results for the first half
(1) Difference between business forecasts and actual results for the first half of the fiscal year ending March
31, 2024 (April 1, 2023 to September 30, 2023)
Profit attributable
Basic earnings
to owners
per shareof parent

Net sales

OperatingprofitOrdinaryprofit

Million yen

Million yen

Million yen

Million yen

Yen

Previous forecasts (A)12,4001,160

1,140760

94.72

Actual results (B)13,391

1,525

1,648

1,105

137.78Change (B-A)

991

365

508

345

-

Percentage change (%)

8.0

31.5

44.6

45.5

-

11,680

1,105

1,168

785

97.97

(Ref.) Previous H1 results(H1 FY3/23)

News Release: OKADA AIYON CORPORATION(6294 TSE Prime)
November 10, 2023

(2) Reason for the change
In the consolidated business forecasts for the fiscal year ending March 31, 2024, each profit for thefirst half significantly exceeded the initial forecasts. This was mainly due to the effects of higher
sales prices and growth in sales, which contributed to the results in the domestic segment, despite
factors such as the continued pressure on profits from higher steel prices. Overseas, the impact of
the yen's depreciation on foreign exchange rates and steady economic activity in the North
American market also contributed to the results.

2. Revisions to the consolidated business forecasts for the fiscal year ending March 31, 2024
(1) Revision to consolidated full-year business forecasts for the fiscal year ending March 2024
(April 1, 2023 to March 31, 2024)

Net sales

Previous forecasts (A)Revised forecasts (B)Change (B-A)
Percentage change (%)

OperatingprofitOrdinary
profitProfitattributable to Basic earnings
ownersper shareof parent

Million yen

Million yen

Million yen

Million yen

Yen

25,500

2,300

2,250

1,500

186.9426,500

2,650

2,650

1,730

215.57

1,000

350

400

230-

3.9

15.2

17.8

15.3

-

23,575

1,965

1,961

1,414

176.33(Ref.) Previous results(FY3/23)(2) Reasons for the revision
The Company has revised the full-year business forecasts based on the previous forecasts for thesecond half of the fiscal year, taking into account actual figures for the first half. This revision is basedon the expectation that demand will remain firm in the third quarter and beyond, but there remains
uncertainty about the outlook for the economic situation, in addition to raw material prices andexchange rate trends.
If it becomes necessary to revise the full-year business forecasts due to future trends in businessperformance, the Company will disclose such revisions as soon as possible.

News Release: OKADA AIYON CORPORATION(6294 TSE Prime)
November 10, 2023

3. Revision to dividend forecast(1) Details of the revision
Annual dividend per share
End-Q2Year-end

Total

Yen

Yen

Yen

0.00

56.00

56.00

-

65.00

65.00

0.00

--

0.00

38.00

38.00

Previous forecasts(Announced on May 11, 2023)
Revised forecasts (B)Current results(Reference)Previous results (FY3/23)(1) Reasons for the revision
The Company’s basic dividend policy is to return profits to shareholders by enhancing shareholders'equity and preparing for investment in growth through sustained improvement in profitability. Its
current target is to achieve a dividend payout ratio of 30%.
Based on the above policy, it has decided to pay a year-end dividend of 65 yen per share, anincrease of 9 yen from the previous forecast, in light of the results for the first half and the upwardrevision of the full-year business forecasts.
The Company will continue to implement the shareholder return and dividend policy with the above
policy and dividend payout ratio targets in mind.

[Notes on the Forecasts]
The above forecasts are based on information available as of the date of announcement of thisdocument. Actual results may differ from the forecasts due to various factors.