Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

July 21, 2022

Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2023
(Under Japanese GAAP)
Company name: OBIC Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
4684
URL:
https://www.obic.co.jp/
Representative:
Shoichi Tachibana, President and COO
Inquiries:
Tomonori Anan, Administrator of Business Planning Office and Accounting Div.
Telephone:+81-3-3245-6510
Scheduled date to file quarterly securities report:
August 5, 2022
Scheduled date to commence dividend payments:–Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30,2022)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Millions of yen

Three months ended
June 30, 2022
Three months ended
June 30, 2021
Note: Comprehensive income%Millions of yen%

Millions of yen%

Millions of yen%

24,10614.3

15,072

18.4

18,485

29.6

13,13021.7

21,098–12,731

9.3

14,266

9.0

10,792

10.2

Three months ended June 30, 2022:
Three months ended June 30, 2021:

Basic earnings
per share¥10,137 million¥13,159 million[(23.0)%][22.6%]

Diluted earnings
per share

Yen

Three months ended
June 30, 2022
Three months ended
June 30, 2021

Profit attributable toowners of parent

Ordinary profit

Yen148.07–

121.33–

Note: OBIC Co., Ltd. (hereinafter “the Company”) has applied the “Accounting Standard for Revenue Recognition” (ASBJ
Statement No. 29, March 31, 2020), etc. effective from the beginning of the first quarter ended June 30, 2021. The percentages
indicating year-on-year changes are not presented as the figures for net sales for the three months ended June 30, 2022, are thefigures after the application of this accounting standard. The year-on-year change, when calculated under the assumption thatthe accounting standard, etc. had been applied in the fiscal year ended March 31, 2021, was an increase of 7.3%.

(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

June 30, 2022

320,678

292,84191.3

3,302.30

March 31, 2022

323,927

293,567

90.6

3,310.49

Reference:

EquityAs of June 30, 2022:
As of March 31, 2022:¥292,841 million¥293,567 million

1%Yen2. Cash dividends
Annual dividends per shareFirstquarter-end

Secondquarter-end

Yen

Fiscal year endedMarch 31, 2022–

Fiscal year ending
March 31, 2023–

Fiscal year ending
March 31, 2023 (Forecast)Thirdquarter-end

Yen

Fiscalyear-end

Yen

TotalYen

Yen

92.50

–

122.50215.00110.00–110.00220.00Note: Revision to the most recently announced forecast of dividends: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2023 (from April 1, 2022 to March31, 2023)
Net sales
Millions ofyen
Fiscal year ending
March 31, 2023

98,500Operating profit%

10.1

Millions ofyen

59,600(Percentages indicate year-on-year changes.)Profit attributable to Basic earnings perowners of parent
share

Ordinary profit
Millions ofyen%

10.1

65,600Note: Revision to the most recently announced earnings forecasts: None

2%

9.0

Millions ofyen

47,000%8.0

Yen

530.01

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
Newly included: –Excluded:–(2) Application of special accounting treatments for the preparation of quarterly consolidated financialstatements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022

99,600,000 shares

As of March 31, 2022

99,600,000 shares(ii) Number of treasury shares at the end of the periodAs of June 30, 2022

10,922,048 shares

As of March 31, 2022

10,922,048 shares(iii) Average number of shares outstanding during the period
Three months ended June 30, 2022

88,677,952 shares

Three months ended June 30, 2021

88,950,452 shares* Quarterly consolidated financial statements are exempt from audit conducted by certified public accountants oran audit corporation.
* Proper use of earnings forecasts, and other special matters
There have been no revisions to the consolidated earnings forecasts for the full year that were announced on
April 21, 2022. The above forecasts were prepared based on information currently available to the Company,
and any statements herein do not constitute assurances regarding actual results by the Company. Moreover,actual business and other results may differ from the forecast due to various factors in the future. Please refer tothe section of “(4) Explanation of consolidated earnings forecasts and other forward-looking statements” of “1.
Qualitative information regarding financial results for the three months ended June 30, 2022” on page 3 of[Attached Material] for details.

3Quarterly consolidated financial statements(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contractassets
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term time depositsOther
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

As of June 30, 2022

122,699

122,094

12,025

12,886

68
233
7
1,118
(1)
136,150

104
218
6
1,171
(2)
136,480

25,823
27,636
2,661
56,121

25,53527,6362,414
55,587

154
154

151
151

118,570
10,6582,274(2)131,500
187,776
323,927

114,271
11,9022,286(0)128,459
184,198
320,678(Millions of yen)
As of March 31, 2022
Liabilities
Current liabilities
Accounts payable - trade
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Retirement benefit liability
Asset retirement obligations
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
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

5As of June 30, 2022

3,606
8,552
2,372
6,535
21,066

3,404
5,317
3,416
7,385
19,524

5,942
358
2,992
9,293
30,359

5,970
358
1,984
8,312
27,837

19,17819,530265,985(27,562)
277,131

19,17819,530268,253(27,562)
279,399

16,877(481)39
16,435
293,567
323,927

13,893(481)
29
13,441
292,841
320,678

(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income(Quarterly consolidated statement of income)(Millions of yen)Three months ended
June 30, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodRental income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Rental expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

6

Three months ended
June 30, 2022

21,098
4,934
16,163
3,431
12,731

24,106
5,486
18,6193,547
15,072

0
430

33
1,120

811

935

394
–
282
1,919

418
1,245
36
3,788

383
2
385
14,266375–
375
18,485

00

–
–

0
0
0
14,266
3,968
(494)
3,473
10,792–
10,792–0
018,485
5,300
54
5,354
13,130–13,130(Quarterly consolidated statement of comprehensive income)(Millions of yen)Three months ended
June 30, 2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for landRemeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

7

Three months ended
June 30, 2022

10,792

13,1301,407213
13(2,843)
–(3)

732

(145)

2,367
13,159(2,993)
10,137

13,15910,137––

(3) Quarterly consolidated statement of cash flows(Millions of yen)Three months ended
June 30, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Share of loss (profit) of entities accounted for using
equity method
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors(and other officers)
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Interest and dividend income
Loss on retirement of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Dividends paid
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

8

Three months ended
June 30, 2022

14,266548

18,485
596

(811)

(935)

1,000

1,044

(105)

(129)

(0)
23(431)0(133)
35(548)(764)
13,081
1,280(9,387)
4,974

(1)
22(1,153)
0(861)
(19)
(202)
(1)
16,8442,111(8,330)10,625

(677)
(33)
(0)
(167)
(880)

(355)
(10)
(1)
0(367)(9,339)(9,339)(5,245)
150,745
145,499(10,863)(10,863)(604)
122,699
122,094