UNOFFICIAL TRANSLATION
The formal official document is in Japanese.

Summary of Consolidated Financial Results for the First Half ofFiscal Year ending September 30, 2024 (Japanese Accounting Standards)
May 9, 2024
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 to submit the Quarterly Securities Report (Shihanki Houkokusho): May 15, 2024
Scheduled date of dividend payment: June 14, 2024
Supplementary documents for quarterly results: Yes
Quarterly results briefing: Yes (for securities analysts and institutional investors (on demand))(Figures less than one millions of yen are omitted)

1. Consolidated business results for the six months ended March 31, 2024
(October 1, 2023 – March 31, 2024)(Percentages represent year-on-year changes)(1) Consolidated operating results (cumulative total)
Net sales

Operating income

Millions of yen

First half of fiscal year ending
September 30, 2024
First half of fiscal year ended
September 30, 2023
(Note) Comprehensive income:% Millions of yen

Profit attributable toowners of parent

Ordinary income% Millions of yen% Millions of yen%

13,517

(0.8)

1,052

–

1,518

711.3

1,558

–

13,631

5.1

(18)

–

187

(36.1)(326)–

Six months ended March 31, 2024: 1,650 millions of yen –%Six months ended March 31, 2023: (391) millions of yen –%Net income
Net income
per shareper share/diluted

First half of fiscal year ending
September 30, 2024
First half of fiscal year ended
September 30, 2023

YenYen

28.41

28.41

(5.95)–(2) Consolidated financial position
Total assets

Equity ratio

Millions of yen%

29,15029,155

18,68017,58351.4
47.9

As of March 31, 2024
As of September 30, 2023
(Reference) Shareholders’ equity:

Net assets

Millions of yen

As of March 31, 2024: 14,973 millions of yen
As of September 30, 2023: 13,953 millions of yen

2. Dividends
End of firstquarterYen

End of secondquarter
Yen

Fiscal year ended September–8.00
30, 2023
Fiscal year ending September 30,–
8.00
2024
Fiscal year ending
September 30, 2024(forecast)(Note) Revisions to dividend forecasts published most recently: NoDividend per share
End of thirdquarter

Year end

AnnualYenYenYen–

8.00

16.00

–

8.00

16.00

3. Forecast for consolidated business results for the fiscal year ending September 30, 2024
(October 1, 2023 – September 30, 2024)
Net sales
Millions of yen(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% Millions of yen

Full year27,0000.8
1,800503.2
2,250390.8(Note) Revisions to forecasts for consolidated business results published most recently: No

1,750%

Yen

132.3

31.99

* Note:(1) Important changes of subsidiaries during the term(changes in specified subsidiaries resulting in change in scope of consolidation): Not applicable
New: –Exception: –(2) Application of specific accounting treatment to the preparation of quarterly consolidated financial statements: Notapplicable(3) 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(4) Number of outstanding shares (common shares)(i) Number of shares outstanding at the end of period (including treasury shares):3/24:61,269,900 shares
9/23: 61,264,600 shares(ii) Number of treasury shares at the end of period
3/24: 6,358,273 shares
9/23: 6,405,973 shares(iii) Average number of shares during the period (quarterly consolidated cumulative period)
Six months ended 3/2024: 54,869,083 shares

Six months ended 3/2023: 54,820,844 shares* Status of a quarterly review
This earnings release is not subject to an 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
based on information available to the Company at the time of publication of this document and may differ materially from actual
results for a range of factors, including conditions of Japanese and overseas economies, changes in the situation of operations inJapan and overseas, and uncertainties and potential risks inherent in forward-looking statements. The risks and uncertainties include
unforeseeable effects of future events. The information on consolidated earnings forecasts and other future forecasts on page 4 of
the Accompanying Materials describes notes on the assumptions of the earnings forecasts and the use of the earnings forecasts.
A video (Japanese) of the briefing on earnings for the first half for securities analysts and institutional investors will be madeavailable on demand on the Company's website.