UNOFFICIAL TRANSLATION
The formal official document is in Japanese

Summary of Consolidated Financial Results
for the Fiscal Year ended September 30, 2023 (Japanese Accounting Standards)
November 8, 2023
Listed Company Name: MTI Ltd.
Listing Exchanges: Tokyo Stock Exchange
Securities Code:9438
URL: https://ir.mti.co.jp/eng/
Representative:
Toshihiro Maeta, President and Chief Executive Officer
Contact:
Hiroshi Matsumoto, Senior managing Director
Phone: +81-3-5333-6323
Scheduled date of annual meeting of shareholders: December 23, 2023
Scheduled date to submit the Securities Report (Yuka Shoken Houkokusho): December 25, 2023
Scheduled date of dividend payment: December 25, 2023
Supplementary documents for financial results: Yes
Financial results briefing: Yes (for securities analysts and institutional investors (On-demand))(Figures less than one millions of yen are omitted)

1. Consolidated financial results for the year ended September 30, 2023
(October 1, 2022 – September 30, 2023)(1) Consolidated operating results(Percentages represent year-on-year changes)
Net sales

Operating incomeMillions of yen

For the year ended September 30, 2023
For the year ended September 30, 2022
(Note) Comprehensive income:% Millions of yen

Profit attributable toowners of parent

Ordinary income% Millions of yen% Millions of yen

26,7981.2
298 (65.7)458 (5.7)
26,4792.9870 (54.9)
485 (64.5)
Year ended September 30, 2023: 778 million yen, (–%)
Year months ended September 30, 2022: (1,137) million yen, (–%)
Net income
Net income
Return on
Return on Assets
per shareper share/dilutedEquity––

Net income％％

For the year ended September 30, 2023
13.73–5.4
1.6
For the year ended September 30, 2022
(16.99)–(5.9)
1.6(Reference) Equity in earnings (losses) of affiliates: Year ended September 30 2023: 102 millions of yen
Year ended September 30 2022: (457) millions of yen

1.1
3.3

Yen％%753
(930)

Yen

(2) Consolidated financial position
Total assets

Net assets

Millions of yen

Year ended September 30, 2023
Year ended September 30, 2022
(Reference) Shareholders’ equity:

Equity ratio

Millions of yen

29,155
17,58329,265
17,877
Year ended September 30, 2023: 13,953 millions of yen
Year ended September 30, 2022: 14,065 millions of yen

Net assets per share%

Yen

47.9
48.1

254.36
256.61(3) Consolidated cash flows
Net cash providedby (used in)operating activities

Net cash providedby (used in)investing activities

Net cash provided by(used in) financing
activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

4,764(1,393)(1,349)(2,460)(1,784)343

13,72012,097For the year ended September 30, 2023
For the year ended September 30, 2022

Cash and cashequivalent

2. Dividends
Dividend per share
End offirstquarter

For the year ended September 30, 2022
For the year ended September 30, 2023
For the year ending September 30, 2024
(forecast)End ofsecondperiodEnd ofthirdquarter

Yen

Yen

Yen

Yen

Yen

–
–

8.00
8.00

–
–

8.00
8.00

16.00
16.00

–

8.00

–

8.00

16.00

Year end

AnnualAmount ofDividends on
Dividend ratio
dividends paid
equity(Consolidated)(Total)(Consolidated)

880
880%

%

–
116.5

5.6
6.3

–

3. Forecast for consolidated financial results for the fiscal year ending September 30, 2024
(October 1, 2023 – September 30, 2024)
Net sales
For the first half
Full year(Percentages represent year-on-year changes)
Profit attributable toNet income
Ordinary income
owners of parent
per share

Operating income

Millions of yen%

Millions of yen%

13,00027,000(4.5)
+0.8

200
1,000–+235.1

Millions ofyen%Millions of yen%

Yen200+6.9
1,000 +118.1

50400–(46.9)

0.91
7.32

* Notes(1) Important changes of subsidiaries during the term (changes in specified subsidiaries resulting in change in scope ofconsolidation): Not applicable
New: –Exception: –(2) Changes in accounting policies and changes or restatement of accounting estimates(i) Changes in accounting policies due to the modification in accounting methods:(ii) Changes in accounting policies other than (i):(iii) Changes in accounting estimates:(iv) Restatement:

Not applicableNot applicableNot applicableNot applicable(3) Number of outstanding shares (common shares)(i) Number of outstanding shares at the end of period (including treasury shares):9/23: 61,264,600 shares
9/22: 61,263,000 shares(ii) Number of treasury shares at the end of period
9/23: 6,405,973 shares
9/22: 6,450,273 shares(iii) Average number of shares during the period
9/23: 54,839,609 shares
9/22: 54,781,561 shares(Reference) Summary of financial results
1. Nonconsolidated financial results for the year ended September 30, 2023
(From October 1, 2022 - September 30, 2023)(Percentages are shown as year-on-year changes)(1) Nonconsolidated operating results
Net sales
For the year ended
September 30, 2023
For the year ended
September 30, 2022

Operating income

Ordinary income

Net income

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

20,763(3.2)

1,477(48.7)

761(40.9)

2,404

–

21,445

3.6

2,879

18.0

1,289

(43.6)(3,524)–

Net income pershare
For the year ended
September 30, 2023
For the year ended
September 30, 2022

Fully diluted net
income per share
Yen

Yen

43.69

–

(64.10)–(2) Nonconsolidated financial position
Total assets
Millions of yen

For the year ended
26,817
September 30, 2023
For the year ended
25,048September 30, 2022
(Reference) Shareholders’ equity
As of September 30, 2023: 16,490 millions of yen

Net assets

Equity ratio

Net assets per shareMillions of yen％

Yen

16,54961.5

299.51

15,04359.6

271.45

As of September 30, 2022: 14,932 millions of yen* Status of review
Financial results is out of audit.
* Cautionary statement with respect to forward-looking statements
The forward-looking statements included in this material are based on the Company’s judgments, assumptions, and convictions basedon information available to the Company at the time of publication of this document and may differ materially from actual results for arange of factors, including conditions of Japanese and overseas economies, changes in the situation of operations in Japan and overseas,
and uncertainties and potential risks inherent in forward-looking statements. The risks and uncertainties include unforeseeable effects offuture events. For the assumptions underlying the forecasts and other notice on the use of earnings forecasts, please refer to “(4) Futureoutlook” on page 4 in the accompanying material.
While the Company planned to hold an online briefing on earnings chiefly for securities analysts and institutional investors on Thursday,November 9, 2023, for original Japanese.