Note: This document has been translated from 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 15, 2022

Non-consolidated Financial Results
for the Fiscal Year Ended May 31, 2022
(Under Japanese GAAP)
Company name:
MIMASU SEMICONDUCTOR INDUSTRY CO., LTD.
Listing:
Tokyo Stock Exchange
Securities code:
8155
URL:
https://www.mimasu.co.jp/
Representative:
Nobuaki Hosoya, Representative Director and President
Inquiries:
Tatsuro Yako, Senior Managing Director and in charge of Management headquarters
Telephone:+81-27-372-2011
Scheduled date of annual general meeting of shareholders:August 26, 2022
Scheduled date to commence dividend payment:
August 29, 2022
Scheduled date to file annual securities report:
August 26, 2022
Preparation of supplementary materials on financial results:
None
Holding of financial results meeting:
None(Millions of yen with fractional amounts rounded down, unless otherwise noted)

1. Non-consolidated financial results for the fiscal year ended May 31, 2022 (from June 1, 2021 to
May 31, 2022)(1) Non-consolidated operating results
Net sales
Fiscal year ended
May 31, 2022
May 31, 2021

Millions of yen

Reference:

Operating profit% Millions of yen

74,43285,051–(7.6)

Basic earnings
per share
Fiscal year ended
May 31, 2022
May 31, 2021

(Percentages indicate year-on-year changes.)

7,557
6,085

Diluted earnings
per share

Yen

159.59128.68

Yen––

Ordinary profit% Millions of yen

24.2
2.6

7,564
6,027

Return on equity

Profit% Millions of yen

25.5
7.1

5,126
4,133

%

24.0
6.7

Ratio of ordinary
Ratio of operating
profit to total
profit to net sales
assets

%

%

%

7.5
6.3

7.6
6.2

10.2
7.2

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended May 31, 2022: ¥– million
For the fiscal year ended May 31, 2021: ¥– million
Note: The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31,2020) and relevant ASBJ regulations from the beginning of the fiscal year under review, and each figure for the fiscal
year ended May 31, 2022, is the figure after applying the accounting standard and relevant ASBJ regulations. Yearon-year changes have not been stated with respect to net sales that are significantly affected by application of said
accounting standard and relevant ASBJ regulations.

(2) Non-consolidated financial position
Total assets
As of
May 31, 2022
May 31, 2021
Reference:

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

104,280
94,13570,602
66,68067.7
70.8

2,197.78
2,075.67

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodEquityAs of May 31, 2022:
As of May 31, 2021:¥70,602 million¥66,680 million(3) Non-consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended
May 31, 2022
May 31, 2021

Millions of yen

Millions of yen

Millions of yen

Millions of yen

9,595
22,833(6,238)(16,916)(1,156)(1,129)19,326
17,121

2. Cash dividends
Annual dividends per share

Fiscal year ended
May 31, 2021
Fiscal year ended
May 31, 2022
Fiscal year ending
May 31, 2023
(Forecast)First
quarterend

Secondquarterend

Third
quarterend

Fiscalyear-end

Yen

Yen

Yen

Yen

Total

Total cash
dividends(Total)Payout ratio

Ratio ofdividends to
net assets%%

Yen Millions of yen

–

16.00

–

17.00

33.00

1,060

25.6

1.6

–

19.00

–

26.00

45.00

1,445

28.2

2.1

–

–

–

–

–

–

Note: The year-end dividend for the fiscal year ended May 31, 2022 has been changed from ¥21 to ¥26. The Company has
not yet made a dividend forecast for the fiscal year ending May 31, 2023.

3. Non-consolidated earnings forecasts for the fiscal year ending May 31, 2023 (from June 1, 2022 to
May 31, 2023)
Earnings forecasts for the fiscal year ending May 31, 2023 have yet to be determined given difficulties
at this point in time in terms of rationally calculating the earnings forecasts. The Company will disclosethe earnings forecasts promptly once it is possible to do so.

* Notes(1) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: Yes(iv) Restatement: None
Note: For details, please refer to “Changes in accounting policies” and “Changes in accounting estimates” under “(5)Notes to non-consolidated financial statements” of “3. Non-consolidated financial statements and significant
notes thereto” on pages 11 and 12 of the attached materials.

(2) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of May 31, 2022

35,497,183 shares

As of May 31, 2021

35,497,183 shares(ii) Number of treasury shares at the end of the period
As of May 31, 2022

3,372,572 shares

As of May 31, 2021

3,372,221 shares(iii) Average number of shares outstanding during the period
Fiscal year ended May 31, 2022

32,124,727 sharesFiscal year ended May 31, 2021

32,125,382 shares* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
Forward-looking statements, including the earnings forecasts stated in these materials, are based on
information currently available to the Company and assumptions deemed reasonable. Actual businessand other results may differ materially from the earnings forecasts due to various factors. For the
suppositions that form the assumptions for earnings forecasts and cautions concerning the use of
earnings forecasts, please refer to “(4) Future outlook” of “1. Overview of operating results and others”
on page 3 of the attached materials.

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Attached Materials
Index
1. Overview of operating results and others ................................................................................................. 2(1) Overview of operating results for the fiscal year ............................................................................... 2(2) Overview of financial position for the fiscal year .............................................................................. 3(3) Overview of cash flows for the fiscal year ......................................................................................... 3(4) Future outlook .................................................................................................................................... 3(5) Basic policy on profit sharing and dividends for the current fiscal year and the next fiscal year ...... 3
2. Basic policy on selection of accounting standards.................................................................................... 4
3. Non-consolidated financial statements and significant notes thereto ....................................................... 5(1) Non-consolidated balance sheet ......................................................................................................... 5(2) Non-consolidated statement of income .............................................................................................. 7(3) Non-consolidated statement of changes in equity .............................................................................. 8(4) Non-consolidated statement of cash flows ....................................................................................... 10(5) Notes to non-consolidated financial statements ............................................................................... 11
Notes on premise of going concern .................................................................................................. 11
Changes in accounting policies ........................................................................................................ 11
Changes in presentation.................................................................................................................... 12
Changes in accounting estimates ...................................................................................................... 12
Share of profit (loss) of entities accounted for using equity method, etc. ........................................ 12
Segment information ........................................................................................................................ 12
Per share information ....................................................................................................................... 15
Significant subsequent events........................................................................................................... 15-1-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

1. Overview of operating results and others
MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (the “Company”) has applied the “AccountingStandard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020) and relevant ASBJ
regulations from the beginning of the fiscal year under review, and each figure for the fiscal year ended
May 31, 2022, is the figure after applying the accounting standard and relevant ASBJ regulations. Yearon-year changes have not been stated with respect to net sales that are significantly affected byapplication of said accounting standard and relevant ASBJ regulations.
(1) Overview of operating results for the fiscal year(i) General overview
During the fiscal year ended May 31, 2022, the Japanese economy followed a trend of recovery
overall given factors that include improvements in capital investments and production, despite thepersisting effects of the novel coronavirus disease (COVID-19).
Capital investments among semiconductor-related companies, the primary users of the Company’s
products, were vigorous. In addition, production of semiconductor silicon wafers remained at ahigh level, driven by strong demand for semiconductor devices.
Amid such business environment, the Company engaged in concerted efforts to improve its
operating results, which entailed striking a balance between promoting its cutting-edge processing
technologies and lowering costs, while also actively proceeding to promote sales of products
developed in-house.
As a result, net sales amounted to ¥74,432 million, operating profit was ¥7,557 million (up 24.2%
year on year), ordinary profit was ¥7,564 million (up 25.5%), and profit was ¥5,126 million (up24.0%).
(ii) Overview by segment
Operating results by segment are as follows. Note that the amounts of net sales and profit include
the amounts related to intersegment transactions.
Semiconductor Division
In this division, production was strong mainly for 300-millimeter wafers (including reclaimed
wafers). Under these circumstances, we have further promoted quality improvement and cost
reduction.
As a result, net sales in this division amounted to ¥48,449 million, and segment profit (operating
profit) was ¥5,720 million (up 12.8% year on year).
Industrial Sales Division
In this division, we actively engaged in sales promotions of products developed in-house as well asother products handled by the division.
Meanwhile, sales of other products handled by the division decreased due to application of the
Accounting Standard for Revenue Recognition and relevant ASBJ regulations. As a result, net sales
in this division amounted to ¥27,516 million, and segment profit (operating profit) was ¥1,540
million (up 72.2% year on year).
Engineering DivisionThis division specifically assumes the role of development and as such has been actively
developing in-house products and selling them through the Industrial Sales Division.
In addition, the division has been actively engaged in developing, designing and manufacturing
devices for use in the Semiconductor Division.
-2-MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

As a result, net sales in this division amounted to ¥5,089 million, and segment profit (operating
profit) was ¥676 million (up 22.6% year on year).
(2) Overview of financial position for the fiscal year
Total assets as of the end of the fiscal year under review were ¥104,280 million, up ¥10,145 million
from the end of the previous fiscal year, mainly reflecting an increase in trade receivables. Total
liabilities were ¥33,677 million, up ¥6,223 million, mainly reflecting an increase in trade payables.
Total net assets were ¥70,602 million, mainly reflecting an increase of ¥3,956 million in retained
earnings.
(3) Overview of cash flows for the fiscal year
Cash and cash equivalents (“cash”) as of the end of the fiscal year under review amounted to ¥19,326
million, up ¥2,205 million from the end of the previous fiscal year.
The status of the respective cash flow categories and factors thereof were as follows:
Cash flows from operating activities
Net cash provided by operating activities during the fiscal year under review amounted to ¥9,595
million (down ¥13,238 million year on year). This was mainly due to an increase in cash largely
attributable to profit before income taxes of ¥7,503 million, depreciation of ¥13,219 million, and anincrease in trade payables of ¥5,855 million, despite a decrease in cash largely attributable to anincrease in trade receivables of ¥12,875 million, and income taxes paid of ¥2,253 million.
Cash flows from investing activities
Net cash used in investing activities during the fiscal year under review amounted to ¥6,238 million(down ¥10,677 million year on year). This was mainly due to purchase of property, plant andequipment of ¥5,969 million, in association with capital investments carried out during the fiscal year.
Cash flows from financing activities
Net cash used in financing activities during the fiscal year under review amounted to ¥1,156 million(up ¥26 million year on year). This was mainly due to dividends paid of ¥1,155 million.
(4) Future outlook
As for the outlook ahead, despite continued concerns of the spread of COVID-19 and the prolonging of
the situation in Ukraine affecting the global economy, the Japanese economy is likely to encounter
persisting momentum toward gradual recovery on the back of various economic measures.
Under such circumstances, in the semiconductor industry, a strong demand for silicon wafers is
expected, which gives rise to the likelihood of persistently high levels of production over the medium
to long term. However, with the environment surrounding the Company undergoing drastic changes,
including energy costs and raw material prices rising due to higher resource prices, the Company’s
earnings forecasts for the next fiscal year have yet to be determined given difficulties at this point intime in terms of rationally calculating the earnings forecasts for the coming year. The Company will
disclose the earnings forecasts promptly once it is possible to do so.
(5) Basic policy on profit sharing and dividends for the current fiscal year and the next fiscal year
The Company considers improvement of operating results and sharing of profits with its shareholders
as important management issues. The Company’s basic policy is to provide shareholders with-3-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

sustainable and stable dividends while securing internal reserves necessary for the enhancement ofmanagement base. As such, we will make use of our internal reserve funds making effective investment
for business enhancement toward future growth.
The Company had previously announced a year-end dividend forecast of ¥21 per share for the current
fiscal year. However, after taking into consideration business performance and other factors, theCompany plans to raise the amount of year-end dividend by ¥5 to ¥26 per share. Therefore, annual
dividends will amount to ¥45 per share, an increase of ¥12 per share in comparison with the previous
fiscal year.
Annual dividends for the next fiscal year have yet to be determined given difficulties inherent incalculating the earnings forecasts at this point in time.
The Company will disclose the forecast of cash dividends promptly once it is possible to do so.

2. Basic policy on selection of accounting standards
The Company’s policy, for the time being, is to prepare the non-consolidated financial statements inaccordance with the Japanese GAAP taking into consideration the comparability between nonconsolidated financial statements over different accounting periods and of different companies.
The Company will respond appropriately concerning the adoption of the International Financial
Reporting Standards (IFRS) upon consideration of various factors in Japan and overseas.

-4-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

3. Non-consolidated financial statements and significant notes thereto(1) Non-consolidated balance sheet(Millions of yen)
As of May 31, 2021
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Advance payments to suppliers
Prepaid expenses
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings, net
Structures, net
Machinery and equipment, net
Vehicles, net
Tools, furniture and fixtures, net
LandConstruction in progress
Total property, plant and equipment
Intangible assets
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term prepaid expenses
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-5-

As of May 31, 2022

23,121897
23,312
774
1,405
2,623
152
794
1
(2)
53,081

25,326
1,071
35,989
1,101
1,695
2,861
1,021
638
7
(4)
69,70922,593
774
8,782
43
811
1,974
3,121
38,10020,381
912
4,794
58
713
2,084
1,476
30,422

404
532
936

418
439
858

447
120
1,362
86
(0)
2,016
41,054
94,135

417
127
2,657
88
–
3,291
34,571
104,280

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(Millions of yen)
As of May 31, 2021
Liabilities
Current liabilities
Notes payable - trade
Accounts payable - trade
Accounts payable - otherAccrued expenses
Income taxes payable
Contract liabilities
Advances received
Deposits received
Provision for bonuses for directors (and otherofficers)
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Legal capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets-6-

As of May 31, 2022

845
17,421
3,155
1,479
1,472
–
129
40

1,093
23,028
2,957
2,282
2,930
247
–
39

86

89

69
1,890
26,59072
384
33,126

698
5
160
864
27,454

385
5
160
551
33,677

18,824

18,824

18,77818,77818,77818,778

689

689

7,900
25,16433,754(4,770)66,585

7,900
29,121
37,710(4,770)70,541109(14)
94
66,68094,135112(51)
61
70,602104,280

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(2) Non-consolidated statement of income(Millions of yen)
Fiscal year ended
May 31, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Insurance claim income
Gain on sale of non-current assets
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on sale and retirement of non-current assets
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Impairment losses
Loss on sale of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit-7-

Fiscal year ended
May 31, 2022

85,05173,998
11,052
4,967
6,085

74,43260,47913,953
6,396
7,557

1
10
4
3
20
31
71

1
13
56
20
10
29
131

0
128
0
128
6,027

0
123
0
124
7,564

–
–
–
6,027
1,888
5
1,894
4,133

45
16
61
7,503
3,645
(1,269)
2,376
5,126

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(3) Non-consolidated statement of changes in equity
Fiscal year ended May 31, 2021
(Millions of yen)
Shareholders’ equity
CapitalsurplusRetained earnings
Other retained earnings

Share capital

Balance at beginning of period

18,824

Legal capitalsurplusLegalretainedearnings

18,778689

Generalreserve

Retainedearnings
brought
forward

7,900

22,058Cumulative effects of changes inaccounting policies
Restated balance

Total
retainedearnings
30,648TreasurysharesTotalshareholders’equity(4,767)63,482–
18,824

18,778

689

7,900

–

22,05830,648(4,767)63,482

Dividends of surplus(1,028)(1,028)(1,028)

Profit

4,133

4,133

4,133

Changes during period

Purchase of treasury shares

(2)

(2)

Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

–

–

–

–

3,105

3,105

(2)

3,103

18,824

18,778689

7,900

25,16433,754(4,770)66,585

Valuation and translation adjustments

Balance at beginning of period

Valuationdifferenceonavailablefor-salesecurities

Deferred
gains orlosses onhedges

58

0

Total
valuation andtranslation
adjustments
58

Cumulative effects of changes inaccounting policies
Restated balance

Total net
assets63,541
–

58

0

58

63,541

Changes during period
Dividends of surplus(1,028)

Profit4,133

Purchase of treasury shares
Net changes in items other thanshareholders’ equity

(2)
51

(14)

36

36

Total changes during period

51

(14)

36

3,139

Balance at end of period

109

(14)

94

66,680-8-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Fiscal year ended May 31, 2022
(Millions of yen)
Shareholders’ equity
CapitalsurplusRetained earnings
Other retained earnings

Share capital

Legal capitalsurplusLegalretainedearnings

Total
retainedearnings

TreasurysharesTotalshareholders’equity(4,770)66,585Generalreserve

Retainedearnings
brought
forward

7,900

25,16433,754(13)(13)

25,15033,740

Dividends of surplus(1,156)(1,156)(1,156)

Profit

5,126

5,126

5,126

Balance at beginning of period

18,824

18,778689

Cumulative effects of changes inaccounting policies
Restated balance

18,824

18,778

689

7,900

(13)
(4,770)66,572

Changes during period

Purchase of treasury shares

(0)

(0)

Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

–

–

–

–

3,970

3,970

(0)

3,969

18,824

18,778689

7,900

29,121

37,710(4,770)70,541

Valuation and translation adjustments

Balance at beginning of period

Valuationdifferenceonavailablefor-salesecurities

Deferred
gains orlosses onhedges

109

(14)

Total
valuation andtranslation
adjustments
94

Cumulative effects of changes inaccounting policies
Restated balance

Total net
assets

66,680
(13)

109

(14)

94

66,667

Changes during period
Dividends of surplus(1,156)

Profit5,126

Purchase of treasury shares
Net changes in items other thanshareholders’ equity

(0)
2

(36)

(33)

(33)

Total changes during period

2

(36)

(33)

3,935

Balance at end of period

112

(51)

61

70,602-9-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(4) Non-consolidated statement of cash flows(Millions of yen)
Fiscal year ended
May 31, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses for directors(and other officers)
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for retirement benefits
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss on retirement of property, plant and equipment
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
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- 10 -

Fiscal year ended
May 31, 2022

6,027
16,505–(1)

7,503
13,219
45
1

1

2

2
(150)
(11)
0
(0)
49
3,098
(343)
(2,018)497
23,65512(0)(834)
22,833

3
(313)
(14)
0
(4)
30
(12,875)
(838)
5,855
(782)
11,83314(0)(2,253)
9,595(12,000)
12,000(16,568)
20
(266)
(15)
–
(86)
(16,916)(12,000)
12,000(5,969)
15
(196)
(15)
29
(101)
(6,238)(100)(2)(1,026)(1,129)0
4,787
12,333
17,121–(0)(1,155)(1,156)
4
2,205
17,121
19,326MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(5) Notes to non-consolidated financial statements
Notes on premise of going concern
Not applicable.
Changes in accounting policies
Application of Accounting Standard for Revenue Recognition, etc.
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No.
29, March 31, 2020) and relevant ASBJ regulations from the beginning of the fiscal year underreview, and it has recognized revenue at the time the control of promised goods or services istransferred to the customer at the amount expected to be received upon exchange of said goods orservices.
Major changes due to the application of the Accounting Standard for Revenue Recognition andrelevant ASBJ regulations are as follows:

Whereas revenue from export sales was previously recognized primarily at the shipping date, theCompany has changed this method such that revenue is to be recognized at the point in time whenassumption of risk transfers to the customer pursuant to the Incoterms and other trade terms.



For transactions in which the Company acts as an agent, the full amount of the consideration
received from customers was previously recognized as revenue, but the Company has changed
this method such that revenue is to be recognized at the net consideration amount.

For some sales in which revenue has been recognized at a certain point in time, the Company haschanged its method of recognizing revenue such that revenue is to be recognized over time inaccordance with progress made in satisfying performance obligations.

The application of the Accounting Standard for Revenue Recognition and relevant ASBJ regulations
is subject to the transitional treatment provided for in the proviso to paragraph 84 of the AccountingStandard for Revenue Recognition. The cumulative effect of the retrospective application, assuming
the new accounting policy had been applied to periods prior to the beginning of the fiscal year underreview was added to or deducted from the opening balance of retained earnings of the fiscal year
under review, and thus the new accounting policy was applied from such opening balance.
In addition, “Advances received” under current liabilities of the non-consolidated balance sheet as ofthe end of the previous fiscal year has been included in “Contract liabilities” under current liabilities
from the fiscal year under review. However, in accordance with the transitional treatment provided
for in paragraph 89-2 of the Accounting Standard for Revenue Recognition, figures for the previous
fiscal year have not been restated in accordance with the new approach to presentation.
As a result of this change, for the fiscal year under review, net sales decreased by ¥19,488 million,
cost of sales decreased by ¥19,451 million, and operating profit, ordinary profit and profit before
income taxes each decreased by ¥36 million. In addition, the balance of retained earnings at
beginning of period decreased by ¥13 million.
Application of Accounting Standard for Fair Value Measurement, etc.
The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement
No. 30, July 4, 2019) and relevant ASBJ regulations from the beginning of the fiscal year underreview, and it has applied the new accounting policy provided for by the Accounting Standard for
Fair Value Measurement, etc. prospectively in accordance with the transitional measures provided forin paragraph 19 of the Accounting Standard For Fair Value Measurement, and paragraph 44-2 of the“Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019). There is noeffect on the non-consolidated financial statements.

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MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Changes in presentation
Non-consolidated statement of income“Foreign exchange gains” and “Insurance claim income,” which were included in “Other” under nonoperating income in the previous fiscal year, have been separately presented from the fiscal year
under review due to increased materiality of the amounts. To reflect this change in presentation, thenon-consolidated financial statements for the previous fiscal year have been reclassified.
“Purchase discounts” under non-operating income, which was separately presented in the previous
fiscal year, has been included in “Other” under non-operating income from the fiscal year underreview due to decreased materiality of the amount. To reflect this change in presentation, the nonconsolidated financial statements for the previous fiscal year have been reclassified.
As a result, of items under non-operating income, ¥7 million presented as “Purchase discounts” and¥31 million presented as “Other” in the non-consolidated statement of income for the previous fiscal
year have been reclassified as “Foreign exchange gains” of ¥4 million, “Insurance claim income” of¥3 million and “Other” of ¥31 million.
Changes in accounting estimates
Changes in useful lives
Having reviewed the usage conditions, etc. of some air-conditioning facilities, the Company has
found that there are differences between numbers of years of useful life applied in the past andexpected economic life with respect to such facilities. Accordingly, from the fiscal year under review,
the Company has revised figures for useful life and has applied the change prospectively.
Following this change, for the fiscal year under review, depreciation increased by ¥2,391 million
relative to the previous approach, while operating profit, ordinary profit and profit before income
taxes each decreased by ¥2,366 million.
Share of profit (loss) of entities accounted for using equity method, etc.
Not applicable.
Segment information
1. Overview of reportable segments
Reportable segments are constituent units of the Company for which financial information isseparately available. These segments have their operating results and allocation of businessresources reviewed periodically by the Company’s Board of Directors.
The Company engages in business through its three business divisions, namely the Semiconductor
Division, Industrial Sales Division and Engineering Division, all three of which serve as reportablesegments.
The Semiconductor Division engages in processing and sales of semiconductor materials such as
prime wafers and reclaimed wafers. The Industrial Sales Division engages in sales of precision
instruments such as measuring instruments, testing devices, and products incidental to suchproducts, as well as products manufactured by the Engineering Division. The Engineering Division
engages in development, design and manufacturing of devices that include semiconductor-related
automation equipment.
2. Methods of calculating the amounts of net sales, profit or loss, assets, liabilities, and other items foreach reportable segment
The accounting treatment method for reported business segments is in accordance with theaccounting policies adopted for preparing the non-consolidated financial statements.
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MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

The profit stated for a reportable segment is a figure based on operating profit. Intersegment
revenue and transfer figures are based on prevailing market prices.
3. Information on the amounts of net sales, profit or loss, assets, liabilities, and other items for eachreportable segment
Fiscal year ended May 31, 2021
Reportable segments
Semiconductor
Industrial
Division
Sales Division
Net sales
Sales from externalcustomers
Intersegment sales ortransfers

Engineering
Division

Total(Millions of yen)Amounts inthe nonAdjustments consolidated(Note) 1
financialstatements(Note) 2

46,52938,522–85,051–85,051

3

579

3,203

3,786

(3,786)–

Total

46,532

39,102

3,203

88,838(3,786)85,051

Segment profit

5,071

894

551

6,517

(432)

6,085

Segment assets

53,321

14,543

1,962

69,82624,308

94,135

16,445
–

18
–

15
–

16,479–26–

16,505
–

7,089

24

26

7,140

7

7,148

Other items
Depreciation
Impairment losses
Increase in property,
plant and equipment
and intangible assets

Notes: 1. “Adjustments” include the following:(1) “Adjustments” of negative ¥432 million in “Segment profit” indicate the elimination of intersegment
transactions.
(2) “Adjustments” of ¥24,308 million in “Segment assets” include negative ¥1,101 million for the elimination ofintersegment transactions and ¥25,410 million of corporate assets that are not allocated to any reportablesegment. The corporate assets are mainly funds to manage surplus assets (cash and deposits) and assets
related to administration departments that are not attributable to a reportable segment.
(3) “Adjustments” of ¥26 million in “Depreciation” and “Adjustments” of ¥7 million in “Increase in property,
plant and equipment and intangible assets” under “Other items” are mainly related to corporate assets thatare not attributable to a reportable segment.
2. Segment profit is adjusted with operating profit in the non-consolidated statement of income.
3. Because the Engineering Division specifically assumes the role of development it does not generate net sales
through business with external customers. Instead, sales with respect to the Engineering Division are conducted
through the Industrial Sales Division.

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MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Fiscal year ended May 31, 2022
Reportable segments
Semiconductor
Industrial
Division
Sales Division
Net sales
Sales from externalcustomers
Intersegment sales ortransfers
Total

Engineering
Division

Total(Millions of yen)Amounts inthe nonAdjustments consolidated(Note) 1
financialstatements(Note) 2

48,44725,984–74,432–74,432

2

1,531

5,089

6,623

(6,623)–48,44927,516

5,089

81,056(6,623)74,432

Segment profit

5,720

1,540

676

7,937

(380)

7,557

Segment assets

52,402

23,037

3,718

79,15925,121

104,280

13,155
45

19
–

17
–

13,19245

27–

13,219
45

5,455

28

16

5,500

46

5,547

Other items
Depreciation
Impairment losses
Increase in property,
plant and equipment
and intangible assets

Notes: 1. “Adjustments” include the following:(1) “Adjustments” of negative ¥380 million in “Segment profit” indicate the elimination of intersegment
transactions.
(2) “Adjustments” of ¥25,121 million in “Segment assets” include negative ¥3,789 million for the elimination ofintersegment transactions and ¥28,911 million of corporate assets that are not allocated to any reportablesegment. The corporate assets are mainly funds to manage surplus assets (cash and deposits) and assets
related to administration departments that are not attributable to a reportable segment.
(3) “Adjustments” of ¥27 million in “Depreciation” and “Adjustments” of ¥46 million in “Increase in property,
plant and equipment and intangible assets” under “Other items” are mainly related to corporate assets thatare not attributable to a reportable segment.
2. Segment profit is adjusted with operating profit in the non-consolidated statement of income.
3. Because the Engineering Division specifically assumes the role of development it does not generate net sales
through business with external customers. Instead, sales with respect to the Engineering Division are conducted
through the Industrial Sales Division.

4. Matters concerning changes to reportable segments
As described in “Changes in accounting policies,” the Company has applied the AccountingStandard for Revenue Recognition and relevant ASBJ regulations from the beginning of the fiscal
year under review, and changed the accounting treatment for revenue recognition. Accordingly, theCompany has changed the method of measuring profit or loss of business segments.
For the fiscal year under review, as a result of this change, and compared with the figures obtainedby the previous method, net sales and segment profit decreased by ¥54 million and ¥32 million,
respectively, for the Semiconductor Division, and net sales and segment profit decreased by¥19,433 million and ¥3 million, respectively, for the Industrial Sales Division.

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MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Per share information(Yen)
Fiscal year ended May 31, 2021
Net assets per share
Basic earnings per share

Fiscal year ended May 31, 2022

2,075.67

2,197.78

128.68159.59Notes: 1. Diluted earnings per share are not presented because there are no potential shares.
2. The basis for calculation of net assets per share is as follows:
As of May 31, 2021

As of May 31, 2022

Total net assets (Millions of yen)

66,68070,602

Amount deducted from total net
assets (Millions of yen)––Amount of net assets at the end of the
fiscal year related to common share(Millions of yen)

66,68070,602

Number of issued common shares(Thousands of shares)

35,49735,497

Number of common shares held astreasury shares (Thousands of shares)

3,372

3,372

Number of common shares at the endof the fiscal year used for calculationof net assets per share (Thousands ofshares)32,124

32,124

3. The basis for calculation of basic earnings per share is as follows:
Fiscal year ended May 31, 2021

Fiscal year ended May 31, 2022

4,133

5,126

–

–

Profit related to common share(Millions of yen)

4,133

5,126

Average number of common shares
outstanding during the period(Thousands of shares)

32,12532,124

Basic earnings per share
Profit (Millions of yen)Amount not attributed to commonshareholders (Millions of yen)

Significant subsequent events
Not applicable.

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