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

Summary of Consolidated Financial Results
for the Year Ended March 31, 2024
(Based on Japanese GAAP)May 8, 2024
Company name:C.I. TAKIRON Corporation

Stock exchange listing: Tokyo
Stock code:
4215
Representative:
Inquiries:

URL

https://www.takiron-ci.co.jp/

Representative Director President
General Manager Finance & Accounting

Dept.
Scheduled date of ordinary general meeting of shareholders:

Yuji Fukuda
Shuji Kondo

TEL03-6711-3714

June 26, 2024

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

June 26, 2024
June 27, 2024

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

Yes
Yes

(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating results

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
(5.6)
6,228
7.5
6,501
9.8
5,102 107.4
2.7
5,791
(33.1)
5,923(34.8)
2,460(63.1)Net salesYear ended March 31, 2024
Year ended March 31, 2023

Millions of yen
137,581
145,725

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%%
–
5.4
4.3
4.5
–
2.7
4.0
4.0

Diluted earnings pershare

Earnings per share
Yen
52.42
25.30Year ended March 31, 2024
Year ended March 31, 2023
(2) Consolidated financial position

Total assets
As of March 31, 2024
As of March 31, 2023

Net assets

Equity ratio

Millions of yen
156,194
149,274

Millions of yen
97,04692,658Cash flows fromoperating activities
Millions of yen
9,309
5,729

Cash flows frominvesting activities
Millions of yen(6,277)(6,787)

Net assets per share%
61.9
61.1

Yen
993.32937.34(3) Consolidated cash flows

Year ended March 31, 2024
Year ended March 31, 2023

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(2,346)
6,661(1,262)5,603

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2023
Year ended March 31, 2024
Year ending March 31, 2025
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

––

11.00
11.00

––

4.00
11.00

15.00
22.00

1,462
2,14659.5
42.1

1.6
2.2

–

12.00

–

12.00

24.00

141.8

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Net sales
Full year

Millions of yen
145,000

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%Yen
5.4
7,600
22.0
7,600
16.9
5,600
9.7
57.53

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2024(changes in specified subsidiaries resulting in the change in scope of consolidation):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:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(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, 2024

97,597,530 shares As of March 31, 2023

97,553,655 shares

Number of treasury shares at the end of the period
As of March 31, 2024

235,111 shares As of March 31, 2023

271,516 shares

97,332,515 shares Year ended March 31, 2023

97,255,529 shares

Average number of shares during the period
Year ended March 31, 20242

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

5,603
33,295

6,661
32,215

Electronically recorded monetary claims - operating
Merchandise and finished goods

13,637
16,561

16,284
16,793Work in process
Raw materials and supplies

3,540
8,024

3,747
6,663

Deposits paid
Other

16,141
1,330

19,552
2,030

(40)

(24)

98,095

103,921

14,352

13,133

9,347
12,6099,579
12,681

240
997

193
1,155

Other, net

2,486

2,643

Total property, plant and equipment

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Leased assets, net
Construction in progress

40,03339,386

Intangible assets

2,755

3,083

Investments and other assets
Investment securities

3,036

2,058

Deferred tax assets
Retirement benefit asset

2,238
458

2,644
2,196

Other
Allowance for doubtful accounts

2,658
(2)

2,914
(11)

Total investments and other assets

8,389

9,802

Total non-current assets
Total assets

3

51,17852,272

149,274

156,194(Millions of yen)
As of March 31, 2023

As of March 31, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade25,24023,104

5,964
5,939

5,457
6,978

204
797

196
2,638

284
1,810

1,020
2,162

181
477

237
366

Other

5,333

5,941

Total current liabilities

46,233

48,105

1,426
682

1,425
820

699
95

632
93

Retirement benefit liability
Asset retirement obligations

5,576
158

5,879
159

Other

1,743

2,031

Total non-current liabilities

10,382

11,042

56,61559,147

Share capital
Capital surplus

15,20431,034

15,216
31,072Retained earnings
Treasury shares

43,003(170)

46,642(146)

Total shareholders' equity

89,071

92,785

Electronically recorded obligations - operating
Short-term borrowings
Lease liabilities
Income taxes payable
Accrued consumption taxes
Provision for bonuses
Provision for bonuses for directors (and other officers)
Notes payable - facilities

Non-current liabilities
Lease liabilities
Deferred tax liabilities
Provision for product warranties
Provision for share awards

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

94466

Deferred gains or losses on hedgesForeign currency translation adjustment(10)
1,380(3)1,790

Remeasurements of defined benefit plans

650

1,673

2,114

3,926

1,471

334

Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

492,658

97,046

149,274

156,194

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Net sales
Cost of sales

145,725
108,415

137,581
100,456

Gross profit37,310

37,125

Selling, general and administrative expenses

31,51830,896

Operating profit

5,791

6,228

25
110–
141
66
263

51
74
46
141–
477

608

790

139
73
53
58
151

298
75
–
23
119

476

517

5,923

6,501

5–
81–
5
131
185

5
517
319
41
14–
–

409

899

146
1,345
6–
7–
294
140

49
20
0
50–
492
–
–

1,939

613

Profit before income taxes

4,393

6,787

Income taxes - current
Income taxes - deferred

1,511
589

3,091
(1,245)

Total income taxes

2,100

1,845

Profit

2,292

4,941

Profit attributable to non-controlling interests

(167)

(160)

Profit attributable to owners of parent

2,460

5,102

Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Rental income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rental costs
Share of loss of entities accounted for using equity method
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on bargain purchase
Gain on sale of investment securities
Gain on sale of shares of subsidiaries and associates
Gain on sale of golf club membership
Gain on revision of retirement benefit plan
Gain on liquidation of subsidiaries and associates
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Impairment losses
Loss on sale of investment securities
Loss on valuation of investment securities
Loss on valuation of golf club membership
Loss on liquidation of business
Provision for product warranties
Loss on COVID-19
Total extraordinary losses

5Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
2,292

4,941

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

1823727

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

878
262

549
1,020

1,161

1,950

3,454

6,892

3,499

6,913

(44)

(21)

Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6Consolidated statements of changes in equity
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity

Balance at beginning ofperiod

Share capital

Capital surplus

15,18930,981

1515

Retainedearnings
43,175

Treasury shares

Total
shareholders'equity(178)

89,167

Changes during period
Issuance of new shares

30

Dividends of surplus(2,632)(2,632)

Profit attributable toowners of parent

2,460

2,460

Purchase of treasury
shares(0)(0)

Disposal of treasury
shares99

Change in ownershipinterest of parent due totransactions with noncontrolling interests

3737

Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period

15

52(172)8(95)15,20431,03443,003(170)

89,071

Accumulated other comprehensive income

Balance at beginning of
periodValuationdifference on
available-forsale securities

Deferred gains
or losses onhedges76(12)

Foreigncurrencytranslation
adjustment
625

Total
accumulatedof defined benefit
otherplanscomprehensive
incomeRemeasurements

387

1,076

Non-controllinginterests

1,811

Total net assets

92,055

Changes during period
Issuance of new shares

30

Dividends of surplus(2,632)

Profit attributable toowners of parent

2,460

Purchase of treasury
shares(0)

Disposal of treasury
shares9

Change in ownershipinterest of parent due totransactions with noncontrolling interests

37

Net changes in items
other than shareholders'equity

18

2755

263

1,038(340)698

Total changes during
period

18

2755

263

1,038(340)602

Balance at end of period

94(10)

1,380

650

2,114

1,471

92,658

7Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity

Balance at beginning ofperiod

Share capital

Capital surplus

15,20431,034

1212

Retainedearnings
43,003

Treasury shares

Total
shareholders'equity(170)

89,071

Changes during period
Issuance of new shares

25

Dividends of surplus(1,463)(1,463)

Profit attributable toowners of parent

5,102

5,102

Purchase of treasury
shares(0)(0)

Disposal of treasury
shares2323

Change in ownershipinterest of parent due totransactions with noncontrolling interests

25

25

Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period

12

38

3,639

23

3,713

15,216

31,072

46,642(146)

92,785

Accumulated other comprehensive income

Balance at beginning of
periodValuationdifference on
available-forsale securities

Deferred gains
or losses onhedges94(10)

Foreigncurrencytranslation
adjustment
1,380

Total
accumulatedof defined benefit
otherplanscomprehensive
incomeRemeasurements

650

2,114

Non-controllinginterests

1,471

Total net assets

92,658Changes during period
Issuance of new shares

25

Dividends of surplus(1,463)

Profit attributable toowners of parent

5,102

Purchase of treasury
shares(0)Disposal of treasury
shares23

Change in ownershipinterest of parent due totransactions with noncontrolling interests

25

Net changes in items
other than shareholders'equity

371

7409

1,022

1,811

(1,136)674

Total changes during
period

371

7409

1,022

1,811

(1,136)

4,388

Balance at end of period

466

(3)

1,790

1,673

3,926

334

97,046

8Consolidated statements of cash flows(Millions of yen)
Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024

Cash flows from operating activities
Profit before income taxes

4,393

6,787

Depreciation
Loss on liquidation of business

5,434
–

5,524
492

Impairment losses
Increase (decrease) in retirement benefit liability

1,345
193

20199

Increase (decrease) in provision for bonuses
Loss (gain) on sale of investment securities

(450)
(75)

346(319)–50

53(46)

Loss (gain) on valuation of investment securities
Share of loss (profit) of entities accounted for using equity
methodLoss (gain) on disposal of non-current assets

140

44

Gain on bargain purchase
Interest and dividend income–(136)(517)(125)Interest expenses
Decrease (increase) in accounts receivable - trade, and139

298

466

(1,560)contract assets
Decrease (increase) in inventories(3,967)

1,420

(118)
(105)

(2,807)
736

Increase (decrease) in deposits received
Loss (gain) on sale of shares of subsidiaries and associates

19–

126
(41)

Loss (gain) on liquidation of subsidiaries and associates
Increase (decrease) in provision for product warranties

(185)
305

–
(67)

Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes

Other, net(414)452Subtotal

7,037

11,013

Interest and dividends received

136

125

Interest paid
Payment amount of business consolidation loss

(140)–(299)(394)

Income taxes refund (paid)(1,304)(1,135)

Net cash provided by (used in) operating activities

5,729

9,309

Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment(3,704)18(3,779)
61

Purchase of intangible assets
Purchase of investment securities(1,066)(292)(1,234)(14)

Proceeds from sale of investment securities
Decrease (increase) in deposits paid480(2,133)

1,867(3,410)

185

––

8

Cash flows from investing activities

Proceeds from the liquidation of subsidiaries and associates
Proceeds from sale of shares of subsidiaries resulting inchange in scope of consolidation
Other, net
Net cash provided by (used in) investing activities

9(274)

224(6,787)(6,277)

(Millions of yen)

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of lease liabilities
Purchase of treasury shares
Dividends paid
Purchase of treasury shares of subsidiaries
Purchase of shares of subsidiaries not resulting in change inscope of consolidation
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
1,717

391

(89)
(0)

(171)
0

(2,632)–(1,463)(1,102)

(165)

–

(92)

(1)

(1,262)(2,346)132

217

Net increase (decrease) in cash and cash equivalents(2,186)902

Cash and cash equivalents at beginning of period

7,790

5,603

–(240)

–395

5,603

6,661

Decrease in cash and cash equivalents resulting from exclusion ofsubsidiaries from consolidation
Increase in cash and cash equivalents resulting from inclusion ofsubsidiaries in consolidation
Cash and cash equivalents at end of period10