Translation
Notice: This is a translation of part of the original document in Japanese and is only for reference purposes. In the event of any
discrepancies between this translated document and the original Japanese document, the latter shall prevail.

Consolidated Financial Results
for the Six Months Ended September 30, 2023
[Japanese GAAP]
November 10, 2023
Company name: Seika Corporation
Stock exchange listing: Tokyo Stock Exchange
Code number: 8061
URL: https://seika.com/ir/en/
Representative: Akihiko Sakurai, President and Chief Executive Officer
Contact: Tomoaki Hasegawa, Director, Senior Executive Officer, General Administration
Phone: +81-3-5221-7101
Scheduled date of filing quarterly securities report: November 10, 2023
Scheduled date of commencing dividend payments: December 11, 2023
Availability of supplementary briefing materials on quarterly financial results: No
Schedule of quarterly financial results briefing session: Yes(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2023 (April 1, 2023 - September 30,2023)(1) Consolidated Operating Results(% indicates year-on-year change.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Six months ended
Million yen%
Million yen%
Million yen%
Million yen%
September 30, 2023
40,043
(1.0)
2,051
42.0
2,243
84.2
1,465
73.5
September 30, 2022
40,452
(0.0)
1,444
10.7
1,217(7.4)
844
20.9(Note) Comprehensive income: Six months ended September 30, 2023: ¥3,414 million [119.6%]
Six months ended September 30, 2022: ¥1,555 million [85.0%]
Sales from agent transactions are shown net of the corresponding purchases. Sales under the old accounting
standards are shown below as “Gross sales”:
Six months ended
Gross sales
Year-on-year change
September 30, 2023
¥96,861 million
40.7 %
September 30, 2022
¥68,866 million(0.2)%

Profit per share
Six months ended
September 30, 2023
September 30, 2022

Yen

121.5770.31(2) Consolidated Financial Position
Total assets
Million yen

Diluted profit
per shareYen

121.0670.15

Net assets

Equity ratio

Million yen%

87,741
As of September 30, 2023
38,633
79,990
As of March 31, 2023
35,736(Reference) Equity: As of September 30, 2023: ¥37,763 million
As of March 31, 2023: ¥34,994 million

43.0
43.7

2. Dividends
Annual dividends
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen

Yen

Yen

Yen

Yen

–

55.00

90.00

–

60.00

120.00Fiscal year ended–
35.00
March 31, 2023
Fiscal year ending–
60.00
March 31, 2024
Fiscal year ending
March 31, 2024
(Forecast)(Note) Revision to the forecast for dividends announced most recently: Yes

Year-endTotal

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 - March31, 2024)(% indicates year-on-year change.)
Profit attributableProfit
Net sales
Operating profit
Ordinary profit
to owners of parentper share
Million yen% Million yen% Million yen%

Full year
85,000 (8.9)
4,500(3.0)
5,000 (20.5)(Note) Revision to the financial results forecast announced most recently: Yes

Million yen

3,400%(32.0)

Sales from agent transactions are shown net of the corresponding purchases. Sales under the old accounting
standards are shown below as “Gross sales”:
Gross sales
Year-on-year change
Full year¥200,000 million
13.8%

Yen282.09* Notes:(1) Changes in significant subsidiaries during the period under review: No(Changes in specified subsidiaries resulting in changes in the scope of consolidation):
Newly added: ― (Name of subsidiary)
Excluded: ― (Name of subsidiary)(2) Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates and restatement
1) Changes in accounting policies due to the revision of accounting standards: No2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Restatement: No(4) Number of outstanding shares (common shares)
1) Number of outstanding shares at the end of the period (including treasury shares):
As of September 30, 2023:
12,320,650 shares
As of March 31, 2023:
12,320,650 shares
2) Number of treasury shares at the end of the period:
As of September 30, 2023:
As of March 31, 2023:
3) Average number of shares during the period:
Six months ended September 30, 2023:
Six months ended September 30, 2022:

270,334 shares
283,532 shares

12,055,980 shares
12,013,112 shares* These quarterly financial results are outside the scope of quarterly review by certified public accountants or audit
firms.
* Explanation of the proper use of financial results forecast and other notes
The financial results forecasts in this document are based on information available to the Company as of the date ofdisclosure of this document. Actual results may differ from these forecasts due to various factors in the future.

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable – trade,and contract assets
Investments in leases
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Advance payments to suppliers
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, equipment and vehicles
Tools, furniture and fixtures
Fixed assets for rent
Leased assets
LandConstruction in progressTotal property, plant and equipment
Intangible assets
Goodwill
Right to use facilities
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of September 30, 2023

10,6537,899

35,80939,140

64
100
8,216
406
1,620
3,718
972
(133)
61,429

48
100
9,073
496
1,737
8,969
768
(141)
68,092

1,073
232
383
683
103
2,101
15
4,591

1,088
284
417689
79
2,045
4,604

253
118
314
12
698

207
118
317
42
686

12,052
29
602
604
(18)
13,271
18,561
79,99013,176
34
591
573
(18)
14,35819,64987,741

(Million yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable – trade
Short-term borrowings
Lease liabilities
Accounts payable – other
Income taxes payable
Advances received from customers
Provision for bonuses
Provision for bonuses for directors
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Retirement benefit liability
Provision for retirement benefits for directors
Deferred tax liabilities
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
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

As of September 30, 2023

31,417
2,006
35
1,219
1,160
3,150
714
119
648
40,47332,996
7
20
1,265
503
8,489
722
43
788
44,837

23
76
2,617
22
619
421
3,781
44,254

22
63
2,606
19
1,133
426
4,271
49,1086,728
2,040
22,813(435)
31,146

6,728
2,040
23,693(414)
32,047

3,140
692
15
3,847
218
524
35,73679,990

4,293
1,415
7
5,716
250
619
38,63387,741

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Six Months Ended September 30(Million yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Gain on sale of securities
Share of profit of entities accounted for using equity
methodForeign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Gain on sale of shares of subsidiaries and associates
Compensation income
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Net profit
Profit attributable to owners of parent
Profit attributable to non-controlling interests
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements 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

For the six months ended
September 30, 2022
40,452
31,841
8,610
7,166
1,444

For the six months ended
September 30, 2023
40,04329,837
10,206
8,154
2,051

8
82
11

9
95
2-

39

59
65
227

52
52
251

17

7

421

-

14
453
1,217

51
59
2,243

369
369

48
16
52
117

1,587
589
121
711
876

85
85
2,274
731
39
770
1,503

844
31

1,465
38

77
603
(0)

1,129763
(7)

(0)

25

679
1,555

1,911
3,414

1,484

3,334

70

80