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.

December 27, 2022

Non-consolidated Financial Results
for the Six Months Ended November 30, 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 to file quarterly securities report:
January 13, 2023
Scheduled date to commence dividend payment:
February 3, 2023
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results briefing:
None(Millions of yen with fractional amounts rounded down, unless otherwise noted)

1. Non-consolidated financial results for the six months ended November 30, 2022 (from June 1,
2022 to November 30, 2022)(1) Non-consolidated operating results (cumulative)
Net sales
Six months ended
November 30, 2022
November 30, 2021

Operating profit

Millions of yen

42,902
34,725% Millions of yen

23.5–

Basic earnings
per share
Six months ended
November 30, 2022
November 30, 2021

(Percentages indicate year-on-year changes.)
Ordinary profit% Millions of yen

7,059
4,119

71.4
28.3

7,021
4,131

Profit% Millions of yen

70.0
30.5

4,865
2,815

%

72.8
30.3

Diluted earnings
per shareYen

151.45
87.65

Yen––

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 previous fiscal year, and each figure for the first six
months of the fiscal year ended May 31, 2022, is the figure after applying the accounting standard and relevant ASBJ
regulations. Year-on-year changes have not been stated with respect to net sales for the first six months of the fiscalyear ended May 31, 2022 because they were significantly affected by application of said accounting standard andrelevant ASBJ regulations.

(2) Non-consolidated financial position
Total assetsAs ofNovember 30, 2022
May 31, 2022
Reference:

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

112,458
104,280

74,68370,602

66.4
67.7

EquityAs of November 30, 2022:
As of May 31, 2022:¥74,683 million¥70,602 million

2. Cash dividends
Annual dividends per shareFirst quarter-end Second quarter-end Third quarter-end
Yen
Fiscal year ended
May 31, 2022
Fiscal year ending
May 31, 2023

Yen–

19.00

–

32.00

Fiscal year-end

Yen

Fiscal year ending
May 31, 2023
(Forecast)

TotalYen

Yen–

26.00

45.00

–32.0064.00

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Non-consolidated earnings forecasts for the fiscal year ending May 31, 2023 (from June 1, 2022 toMay 31, 2023)
Net sales
Millions of yen

Fiscal year ending
May 31, 2023

85,000(Percentages indicate year-on-year changes.)
Basic
Ordinary profit
Profitearnings
per share

Operating profit% Millions of yen

14.2

11,000% Millions of yen

45.6

11,000Note: Revisions to the earnings forecasts most recently announced: None% Millions of yen

45.4

7,500

%Yen

46.3233.47

* Notes(1) Adoption of accounting treatment specific to the preparation of quarterly non-consolidated financial
statements: None
(2) 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
(3) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of November 30, 2022

35,497,183 shares

As of May 31, 2022

35,497,183 shares(ii) Number of treasury shares at the end of the period
As of November 30, 2022

3,372,890 shares

As of May 31, 2022

3,372,572 shares(iii) Average number of shares outstanding during the period
Six months ended November 30, 2022

32,124,472 shares

Six months ended November 30, 2021

32,124,798 shares* Quarterly financial results reports are exempt from quarterly review 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 thesuppositions that form the assumptions for earnings forecasts and cautions concerning the use ofearnings forecasts, please refer to “(3) Explanation of earnings forecasts and other forward-lookingstatements” of “1. Qualitative information regarding financial results for the six months ended
November 30, 2022” on page 3 of the attached materials.

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Attached Materials
Index
1. Qualitative information regarding financial results for the six months ended November 30, 2022 ......... 2(1) Explanation of operating results ......................................................................................................... 2(2) Explanation of financial position........................................................................................................ 3(3) Explanation of earnings forecasts and other forward-looking statements .......................................... 3
2. Quarterly non-consolidated financial statements and significant notes thereto ........................................ 4(1) Quarterly non-consolidated balance sheet .......................................................................................... 4(2) Quarterly non-consolidated statement of income ............................................................................... 6(3) Quarterly non-consolidated statement of cash flows .......................................................................... 7(4) Notes to quarterly non-consolidated financial statements .................................................................. 8Notes on premise of going concern .................................................................................................... 8Notes when there are significant changes in amounts of equity ......................................................... 8Segment information .......................................................................................................................... 8-1-MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

1. Qualitative information regarding financial results for the six months ended
November 30, 2022
(1) Explanation of operating results
During the six months ended November 30, 2022, the Japanese economy followed a trend of moderate
recovery overall as progress was made in the suppression of the novel coronavirus disease (COVID-19)
and the normalization of social and economic activities, despite the impact of the worldwide surge inresource prices and other factors.
Capital investments among semiconductor-related companies, the primary users of the products ofMIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (the “Company”), were steady. In addition,
production of semiconductor silicon wafers remained at a high level.
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 for the six months ended November 30, 2022 increased by 23.5% year on year to¥42,902 million, operating profit was ¥7,059 million (up 71.4% year on year), ordinary profit was¥7,021 million (up 70.0%), and profit was ¥4,865 million (up 72.8%).
Operating results by segment are as follows. Note that the amounts of net sales and profit include theamounts 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 ¥27,335 million (up 18.2% year on year), andsegment profit (operating profit) was ¥5,652 million (up 63.7%).
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.
As a result, sales of products developed in-house and other products handled by the division increased,
net sales in this division amounted to ¥15,694 million (up 32.0% year on year), and segment profit(operating profit) was ¥1,089 million (up 120.2%).
Engineering DivisionThis division specifically assumes the role of development and as such has been actively developing inhouse 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.
As a result, net sales in this division amounted to ¥4,006 million (up 64.1% year on year), and segment
profit (operating profit) was ¥498 million (up 61.9%).

-2-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(2) Explanation of financial position(i) Status of assets, liabilities, and net assets
Total assets as of November 30, 2022 were ¥112,458 million, up ¥8,177 million from the end of
the previous fiscal year, mainly reflecting increases in cash and deposits and trade receivables.
Total liabilities were ¥37,774 million, up ¥4,097 million, mainly reflecting an increase in trade
payables. Total net assets were ¥74,683 million mainly reflecting an increase of ¥4,030 million inretained earnings.
(ii) Status of cash flows
Cash and cash equivalents (“cash”) as of November 30, 2022 amounted to ¥23,306 million, anincrease of ¥3,979 million from the end of the previous fiscal year. Net cash provided by operating
activities amounted to ¥8,540 million. This was mainly due to an increase in cash largely
attributable to profit before income taxes of ¥7,021 million and depreciation of ¥4,726 million,
despite a decrease in cash largely attributable to an increase in trade receivables of ¥3,885 million.
Net cash used in investing activities amounted to ¥3,729 million. This was mainly due to purchaseof property, plant and equipment of ¥3,591 million. Net cash used in financing activities amountedto ¥834 million. This was mainly due to dividends paid of ¥834 million.
(3) Explanation of earnings forecasts and other forward-looking statements
The earnings forecasts have not been changed from those announced on September 30, 2022.

-3-MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

2. Quarterly non-consolidated financial statements and significant notes thereto(1) Quarterly non-consolidated balance sheet(Millions of yen)
As of May 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
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, net
Machinery and equipment, net
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Other
Total non-current liabilities
Total liabilities-4-

As of November 30, 2022

25,32637,060
1,101
1,695
2,861
1,668
(4)
69,70929,30640,946
1,398
1,732
2,977
1,165
(4)
77,521

20,381
4,794
5,246
30,422858
3,291
34,571
104,280

19,6993,296
7,264
30,261797
3,878
34,937
112,458

24,122
2,930
162
5,911
33,12626,317
2,954
125
7,894
37,292385
165
551
33,677316
165
482
37,774MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(Millions of yen)
As of May 31, 2022
Net assets
Shareholders’ equity
Share capital
Capital surplus
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-5-As of November 30, 2022

18,824
18,77837,710(4,770)70,541

18,824
18,77841,740(4,771)
74,571112(51)
61
70,602104,280

121
(8)
112
74,683
112,458

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(2) Quarterly non-consolidated statement of income(Millions of yen)Six months ended
November 30, 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
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Loss on sale and retirement of non-current assets
OtherTotal non-operating expenses
Ordinary profit
Extraordinary losses
Impairment losses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit-6-

Six months ended
November 30, 2022

34,72528,274
6,451
2,331
4,119

42,902
32,48910,412
3,353
7,059

08
10
22
42

0
9
48
1775

030
030
4,131

0
113
0113
7,021

45
45
4,086
1,497(226)
1,270
2,815

–
–
7,021
2,724(568)
2,156
4,865

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(3) Quarterly non-consolidated statement of cash flows(Millions of yen)Six months ended
November 30, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
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
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Dividends paid
Other, net
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-7-Six months endedNovember 30, 2022

4,086
6,588
45(9)
0(0)
(4,505)162
1,682(1,369)
6,679
9(0)
(1,309)
5,379

7,021
4,726–(10)0(3)(3,885)
(450)
2,195
1,638
11,23210(0)(2,702)
8,540(6,000)6,000(2,424)13(71)(26)(2,509)(6,000)6,000(3,591)6(41)(102)(3,729)

(545)
(0)
(546)

(834)
(0)
(834)

0

3

2,324
17,121
19,446

3,979
19,32623,306MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(4) Notes to quarterly non-consolidated financial statements
Notes on premise of going concern
Not applicable.
Notes when there are significant changes in amounts of equity
Not applicable.
Segment information
Information on the amounts of net sales and profit or loss for each reportable segment
Six months ended November 30, 2021
Reportable segments(Millions of yen)Amounts inthe quarterly
nonAdjustments
consolidated
statement ofincome

Semiconductor
Division

Industrial
Sales
Division

Engineering
Division

23,125

11,600–34,725–34,725

0291

2,442

2,734

(2,734)–

Total

23,125

11,892

2,442

37,459(2,734)34,725

Segment profit

3,453494

307

4,256(136)4,119

Net sales
Sales from externalcustomers
Intersegment sales ortransfers

TotalNotes: 1. The figure of “Adjustments” in “Segment profit” indicates the elimination of intersegment transactions.
2. Segment profit is adjusted with operating profit in the quarterly 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.

Six months ended November 30, 2022
Reportable segments(Millions of yen)Amounts inthe quarterly
nonAdjustments
consolidated
statement ofincome

Semiconductor
Division

Industrial
Sales
Division

Engineering
Division

27,333

15,568–42,902–

42,902

1

126

4,006

4,134

(4,134)–

Total

27,335

15,694

4,006

47,036(4,134)42,902

Segment profit

5,652

1,089

498

7,240(181)7,059

Net sales
Sales from externalcustomers
Intersegment sales ortransfers

Total

Notes: 1. The figure of “Adjustments” in “Segment profit” indicates the elimination of intersegment transactions.
2. Segment profit is adjusted with operating profit in the quarterly 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.

-8-