Flash Report Consolidated Basis
Results for the First Half of Fiscal 2023
(April 1, 2023- September 30, 2023)＜under Japanese GAAP＞
October 30, 2023
OSAKA STEEL CO., LTD.
Standard Market,Tokyo Stock Exchange5449
https://www.osaka-seitetu.co.jp
Taisuke Nomura, PRESIDENT
Hidehiko Shimada,
GENERAL MANAGER,
HEAD OF ACCOUNTING & FINANCE DIV.
+81-6-6204-0163

Company name:
Stock listing:Code number:
URL:
Representative:
Contact:
Telephone:(Figures of less than ¥1 million have been omitted.)

1. Consolidated Financial and Operating Results for the First Half of Fiscal 2023
(April 1, 2023- September 30, 2023)(1)Consolidated Operating Results（Percentage figures represent changes from the same period of the previous fiscal year.）Net salesFirst Half of Fiscal 2023

Millions ofyen
57,557

Operating profit

Millions of％
yen
4.3
3,611

First Half of Fiscal 2022
55,192
16.9
4,163(Reference) Comprehensive income:First Half of Fiscal 2023
First Half of Fiscal 2022
Earnings per share
Yen

Ordinary profit

Millions of％yen(13.3)
3,562

Profit attributable toowners of parent
Millionsof％％
yen(24.9)
2,278
3.1

52.2
4,74183.5¥ 1,723 Million(34.7) %¥ 2,641 million
29.6 %

2,208

27.0

Earnings per shareafter full dilution
YenFirst Half of Fiscal 2023

58.53

―

First Half of Fiscal 2022

56.74

―

(2)Consolidated Financial Results

First Half of Fiscal 2023
Fiscal 2022
(Reference) Shareholders’ equity:

Total assets

Net assets

Millions of yen

Millions of yen
222,415
213,243First Half of Fiscal 2023
Fiscal 2022

¥152,207¥150,980

millionmillionRatio of shareholders’ equity
to total assets％
154,24268.4

153,10370.8

２．Dividends
Dividends per share
End of first

End of second

End of thirdquarter
Yenquarter
Yenquarter
Yen

Fiscal 2022

―

8.00

Fiscal 2023

―

10.00

Fiscal 2023(Forecasts)

End of fiscal year

Total

Yen

Yen

―

14.50

22.50

―

―

―

(Note) Whether the dividend forecasts under review have been revised ：NoThe dividend forecasts of end of fiscal year for fiscal 2023 are not decided.

３．Consolidated Financial Forecasts for Fiscal 2023(April 1, 2023-March 31, 2024)
ProfitNet sales

Operating profit

Ordinary profit

attributable toowners ofEarnings per shareparentMillions ofyen

Fiscal 2023

120,000

Millions ofyen％
2.4

7,000％
17.9

Millions ofyen

6,500Millions ofyen％
1.8

4,000％
37.8

Yen

102.78(Note) Whether the consolidated financial forecasts for fiscal 2023 under review have been revised ： No(Not Forecasts of future performance in this report are based on information available at the date of publication for thisdocument and certain assumptions regarding factors that may influence future results at the date of publication.
Actual results may vary significantly from these forecasts due to a wide range of factors.

1.Quarterly Consolidated Financial Statements(1)Quarterly Consolidated Balance Sheets
Millions of yen
September 30, 2023

March 31, 2023
AssetsCurrent assets
Cash and deposits
Accounts receivable - tradeFinished goods
Work in process
Raw materials and supplies
Accounts receivable - other
Short-term loans receivable from subsidiaries and associates
Deposits paid
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Tools, furniture and fixtures, netLand
Construction in progress
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4,870
24,14816,906
511
8,305
9,595
10,00058,607183(132)
132,995

3,427
27,56920,329652
8,042
12,222
10,00059,044
134(167)
141,257

8,662
26,683
2,367
37,1852,565
77,464

8,782
26,714
2,312
37,573
2,894
78,278

16
16

16
16

565
625
911,485(0)2,76680,247
213,243

622
583
102
1,556(0)2,863
81,158222,415

March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Provision for repairs
Provision for business restructuring
Other
Total current liabilities
Non-current liabilities
Deferred tax liabilities
Retirement benefit liability
Provision for business restructuring
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

Millions of yen
September 30, 2023

19,322
21,901
7,773
2,891
962
589
327
2,027
55,795

21,40028,476
6,518
3,280
1,400
591
819
1,548
64,036

1,209
1,876
924
333
4,343
60,139

1,252
1,935
665
283
4,136
68,172

8,769
10,355
135,426(4,537)150,013

8,769
10,355
137,139(4,538)
151,726

223
45
409
289
967
2,122
153,103213,243262
25(76)
268
480
2,035
154,242
222,415

(2)Quartely Consolidated Statements of Operations
and Quartely Consolidated Statements of Comprehensive Income
Quartely Consolidated Statements of Operations

55,192
47,831
7,361

Millions of yen
First half offiscal 2023
57,55750,470
7,086

1,498
604
14
34
1,045
3,198
4,163

1,714
642
14
36
1,0673,475
3,611

81
10205
―
771
62
1,132

78
11
193
244
11
51
591

162
53
39
268
30
554
4,741

453
73
57―
55
640
3,562

1,411
1,411
3,330
1,455(381)
1,073
2,256
47
2,208

―
―
3,562
1,326
9
1,336
2,225(52)2,278First half offiscal 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Transportation costs
Salaries and bonuses
Retirement benefit expenses
Depreciation
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend incomeRental income from non-current assets
Foreign exchange gains
Gain on valuation of interest rate swaps
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of non-current assets
Taxes and dues
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Business restructuring expenses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parentQuartely Consolidated Statements of Comprehensive Income

2,256

Millions of yen
First half offiscal 2023
2,225(33)
(60)
496
(17)
384
2,641

39(24)
(495)
(21)
(502)
1,723

2,532
108

1,791
(67)

First half offiscal 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

（3）Quartely Consolidated Statements of Cash Flows
Millions of yen
First half offiscal 2023

First half offiscal 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for repairs
Increase (decrease) in provision for business restructuring
Interest and dividend income
Interest expenses
Loss on retirement of non-current assets
Loss (gain) on sale of non-current assets
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in accounts receivable - other
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Increase (decrease) in accrued consumption taxes
Loss (gain) on valuation of interest rate swaps
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Proceeds from sale of non-current assets
Purchase of non-current assets
Proceeds from sale of investment securities
Other proceeds
Other payments
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from sale of treasury shares
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

3,330
2,087
6(29)
968
(91)
162
53(3)
(2)
2,555
(3,587)(1,204)(4,338)
(996)
144
(63)
(280)
(771)
216
(1,844)
92
(95)
(911)
(2,758)

3,562
2,173
20
2233
(89)
453
73(0)
―
(2,831)(2,548)(2,599)
1,692
217
58
42(499)
(11)
(162)
(213)
89(433)(852)(1,410)4(2,362)30(0)(2,353)1(1,327)―2(1)(1,324)

2,704
828(1,738)
0(0)
(525)
(15)
1,253
487
(3,370)62,39659,026

3,965―(1,933)
―
(0)
(564)
(20)
1,447
282
(1,005)63,47762,472