May 12, 2023

Summary of Consolidated Financial and Business Results
for the Year Ended March 2023（Japanese GAAP）
Company Name:
URL:
Representative:
Contact:
Telephone:Oji Holdings Corporation(Code No. 3861 Tokyo Stock Exchange)
https://www.ojiholdings.co.jp/
Hiroyuki Isono, President & Chief Executive Officer
Tadashi Oshima, Corporate Officer
03-3563-1111+81-3-3563-1111(overseas)

General meeting of stockholders to be held:

June 29, 2023

Statutory annual report to be presented:

June 29, 2023

Start of dividend payout:

June 7, 2023

(All yen figures are rounded down to the nearest one million yen)

1. Results for the Year Ended March 31, 2023 (April 1, 2022 - March 31, 2023)(Unaudited)(1) Consolidated Business Results(Figures shown in percentage are ratios compared to the same period of the previous year)

Net sales

Operating income

Millions of yen

FY2022
FY2021
Note: Comprehensive income% Millions of yen

1,706,641

16.1

1,470,161

8.2

FY2022

Profit per share% Millions of yen

84,818(29.4)

120,11941.7

117,148 million yen% Millions of yen

95,008(29.7)

135,100

62.7

FY2021

Ratio of profit toshareholders' equity

Diluted profit per share

Profit attributable toowners of parent

Ordinary income%

56,483(35.5)

87,50976.3

135,388 million yen

Ratio of ordinary
income to total assets

Ratio of operating
income to net sales

Yen

Yen

%

%

%

FY2022

57.00

56.97

6.3

4.4

5.0

FY2021

88.35

88.30

Note: Equity in earning of affiliates

FY2022

10.9

6.7

2,924 million yen

8.2

FY2021

2,679 million yen(2) Consolidated Financial Condition
Net assets

Millions of yen

Millions of yen%

Yen

2,296,018

964,56440.8

945.27

FY2022
FY2021

2,053,752

Note: Shareholders' equity

Shareholders'equity ratio

Total assets

FY2022875,470

Net assets per share

41.4

936,949 million yen

859.29FY2021

851,232 million yen(3) Consolidated Cash Flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents

Millions of yen

Millions of yen

Millions of yen

Millions of yen

FY2022

18,262(123,274)

101,787

56,837

FY2021

143,587(92,567)(136,002)

55,474at the end of period

2. Dividend Conditions
Dividend per share
End of 3Q End of FY

Total dividend

Dividend
payout ratio

Dividend
on net assets(Consolidated)

End of 1Q

End of 2Q

Annual(Annual)(Consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

FY2021

-

7.00

-

7.00

14.00

13,89015.9

1.7

FY2022

-

8.00

-

8.00

16.00

15,88128.1

1.8

FY2023(Forecast)

-

8.00

-

8.00

16.00

24.4

3. Consolidated Forecasts for the Year Ending March 2024 (April 1, 2023-March 31, 2024)(Figures shown in percentage for the full year are ratios compared to the previous year,
Figures shown in percentage for the first half are ratios compared to the same period of the previous year)

Net sales

Operating income

Millions of yen% Millions of yen

Profit attributable toowners of parent

Ordinary income%

Millions of yen% Millions of yen

Net income per share%

YenFirst half

860,000

2.7

45,00011.4

43,000(28.6)

28,000(26.2)

28.25

Full year

1,800,000

5.5

100,000

17.9

100,000

5.3

65,000

15.1

65.58

4. Notes(1) Changes in important subsidiaries(changes regarding specified subsidiaries accompanying changes in the scope of consolidation) :None(2) Changes in accounting methods compared with recent consolidated accounting periods(i) Changes due to accounting standard changes :Yes(ii) Changes besides (i) :None(iii) Accounting estimate change :None(iv) Restatement :None(Note)Please refer to “Consolidated Quarterly Financial Statements and Notes (Changes in accounting policies)” on page 11 of the attached document
for more details.

(3) Outstanding balance of issued shares (common stock)(i) Outstanding balance of issued shares at the end of fiscal year (including treasury shares)
1,014,381,817
FY2022
FY2021(ii) Outstanding balance of treasury shares at the end of fiscal year
FY2022
23,179,622
FY2021(iii) Weighted average number of shares during fiscal year
FY2022990,976,801
FY2021

1,014,381,817
23,764,570
990,497,836(Reference)
1. Results for the Year Ended March 31, 2023 (April 1, 2022 - March 31, 2023)(1) Non-consolidated Business Results(Figures shown in percentage are ratios compared to the previous year)

Net sales

Operating profit

Ordinary profit

ProfitMillions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

FY202247,39217.5

30,35923.3

28,703

11.4

25,1025.0

FY202140,335(24.0)

24,618(31.5)

25,759(24.8)

23,899(31.9)

Profit per share

Diluted profit per share

Yen

Yen

FY2022

25.33

25.31

FY2021

24.12

24.11

(2) Non-consolidated Financial Condition
Net sales

Operating profit

Ordinary profit

ProfitMillions of yen

Millions of yen

Millions of yen

Millions of yen

FY2022

1,209,188422,13334.9

425.65

FY2021

1,098,746

Note: Shareholders' equity

FY2022401,274
421,998 million yen

36.5
FY2021404.83401,117 million yen

NOTICE・ This document is out of the scope of the audit procedures required by Financial Instruments and Exchange Act, and audit procedures forconsolidated financial statement have not been finished as of the date of publication.
・ Forecasts released are based on expectations of future economic conditions as of the date of publication. The actual results may differ
drastically from these forecasts due to various factors that may arise in the future.
・ This document is an excerpt translation of the Japanese original and is only for reference purposes. In the event of any discrepancy
between this translation and the Japanese original, the latter shall prevail.

1. Qualitative Information Concerning Business Performance and Financial Situation(1) Qualitative Information Concerning Business Performance
Business Performance for FY2022
Net Sales
Billions of yen

Operating Profit

Ordinary Profit

Billions of yen

Billions of yen

Profit Attributable to
Owners of Parent
Billions of yen

Profit Per ShareYen

FY2022

1,706.6

84.8

95.0

56.5

57.00

FY2021

1,470.2

120.1

135.1

87.5

88.35

Increase (Decrease)236.5(35.3)(40.1)(31.0)

Increase (Decrease) %16.1%(29.4%)(29.7%)(35.5%)The Oji Group has set the basic policy of "Growth to Evolution" as the Long-term Vision for 2030, and is promoting "Initiatives
for Environmental Issues -Sustainability-", "Initiatives for Profitability Improvement -Profitability-" and "Initiatives for ProductDevelopment -Green Innovation-". As the milestones of the Long-term vision, we have set FY2022-2024 Medium-termManagement Plan, which aims to achieve the consolidated operating profit of ¥150.0 billion or more by FY2024 and stably
maintain consolidated profit attributable to owners of parent of ¥100.0 billion or more.
Specifically, we will continue our efforts on environmental issues by promoting greenhouse gas reduction and expanding net
CO2 absorption by forests, as countermeasures against climate change. At the same time, we will enhance the value of ourbusiness by deepening the existing businesses through the establishment of an optimal production system, and expanding thehighly-expected businesses including overseas packaging business and eco-friendly products. Furthermore, we will develop andquickly commercialize new wood-derived products and materials such as eco-friendly materials and products, based on a rangeof core technologies we have cultivated through paper manufacturing and forestation. We will continue to contribute to society
as a company that "grows and manages the sustainable forest, develops and delivers the products from renewable forest andbrings this world a brighter future filled with hope”.
Consolidated net sales for FY2022 increased by ¥236.5 billion to ¥1,706.6 billion (year-on-year increase of 16.1%) due to arecovery in demand, resulting from the resumption of economic activities that had been stagnant due to the spread of COVID19, a rise in the pulp market, and the implementation of price revision in response to the impact of the recent sharp rise in raw
material and fuel prices. Overseas sales ratio increased by 4.1 points from the previous year to 37.6%.
Consolidated operating profit decreased by ¥35.3 billion to ¥84.8 billion (year-on-year decrease of 29.4%) due to the significant
impact of higher raw material and fuel prices despite the price revision mentioned above and an increase in sales volume.
Ordinary profit decreased by ¥40.1 billion to ¥95.0 billion (year-on-year decrease of 29.7%) due in part to the decrease inforeign exchange gains from revaluation of foreign currency-denominated receivables and payables. Profit before taxes
decreased by ¥44.6 billion to ¥84.6 billion (year-on-year decrease of 34.5%), and profit attributable to owners of parent
decreased by ¥31.0 billion to ¥56.5 billion (year-on-year decrease of 35.5%) .

1 / 11

Overview of Business Performance for FY2022 by Segment(I) Business Performance by Segment(Unit: Billions of yen)
Net Sales
FY2021

ReportingSegment

Operating Profit（Loss）

FY2022

Increase(Decrease)

FY2021

Increase(Decrease)

FY2022

Household &Industrial Materials

698.8

780.5

11.7%

26.2

(1.2)

-

Functional Materials

184.7

219.9

19.0%

15.3

15.5

1.5%

320.6

423.8

32.2%

55.2

68.5

24.1%

244.5

281.0

14.9%

17.8

(4.8)

-

Forest Resources &Environment Marketing
Printing &Communications Media

1,448.7

1,705.2

17.7%

114.5

78.0

(31.9%)

Others

Total

291.1

318.1

9.3%

7.2

8.4

18.0%

Total

1,739.8

2,023.3

16.3%

121.7

86.5

(28.9%)

Adjustment (*)(269.6)(316.7)

(1.6)

(1.6)

Consolidated total

1,470.2

1,706.6

120.1

84.8

16.1%

(29.4%)*Adjustment is mainly those concerning internal transactions.
(II) Overview of Business Performance by Segment
The Oji Group's four reporting segments are: "Household and Industrial Materials", "Functional Materials", "Forest Resources
and Environment Marketing", and "Printing and Communications Media". Each of the reporting segment consists of those thatare recognized to be similar in terms of economic characteristics, manufacturing methods or processes of products, markets inwhich products are sold, and types of customers, among the constituent units of the Oji Group.
Business segments that are not included in the reporting segments are classified as "Others".
From the first half of FY2022, some businesses that had been classified under "Household and Industrial Materials" and"Others" have been reclassified under "Forest Resources and Environment Marketing". Year-on-year comparisons are madewith figures for the previous year after reclassification into the new segment classifications.

Major business lineup for the segments are as follows.
- Household and Industrial Materials:
Containerboard/corrugated containers, boxboard/folding cartons, packing paper/paper bags, household paper, disposable diapers, etc.
- Functional Materials:
Specialty paper, thermal paper, adhesive materials, film, etc.
- Forest Resources and Environment Marketing:Pulp, energy, forest plantation/lumber processing, etc.
- Printing and Communications Media:
Newsprint, printing/publication/communication paper, etc.
- Others:
Trading business, logistics, engineering, Real estate etc.

2 / 11

○Household and Industrial Materials
In FY2022, net sales amounted to ¥780.5 billion (year-on-year increase of 11.7%), and operating loss was ¥1.2 billion (yearon-year decrease of ¥27.4 billion).
Regarding domestic business, sales amount increased from the previous year due to ongoing price revision for containerboard,
corrugated containers, boxboard and household paper. As for disposable diapers, sales amount almost remained unchanged
from the previous year.
Regarding overseas business, sales amount increased from the previous year due to increased sales volume and thepenetration of price increases of containerboard and corrugated containers mainly in Southeast Asia and India, in addition to
the start of operation of a new containerboard machine in Malaysia in October 2021.

○Functional Materials
In FY2022, net sales amounted to ¥219.9 billion (year-on-year increase of 19.0%), and operating profit was ¥15.5 billion(year-on-year increase of 1.5%).
Regarding domestic business, sales volume of specialty paper decreased from the previous year, but sales amount increased
due to price revision. Sales amount of thermal paper increased from the previous year due to a recovery trend in demand,
which had declined due to the spread of COVID-19, in addition to price revision.
Regarding overseas business, sales amount of thermal paper increased from the previous year due to the recovery trend indemand similarly in the domestic market, as well as price revision and the completion of enhancement and expansion work in
Brazil, which started operation in January 2022.

○Forest Resources and Environment Marketing
In FY2022, net sales amounted to ¥423.8 billion (year-on-year increase of 32.2%), and operating profit was ¥68.5 billion(year-on-year increase of 24.1%).
Regarding domestic business, sales amount of pulp business increased from the previous year due to a rise in the pulp market.
Sales amount of energy business increased from the previous year due to the start of operation of a new biomass power plantin Tokushima Prefecture in December 2022.
Regarding overseas business, sales amount of pulp business increased from the previous year due to a rise in the pulp market
in addition to the strong sales.

○Printing and Communications MediaIn FY2022, net sales amounted to ¥281.0 billion (year-on-year increase of 14.9%), and operating loss was ¥4.8 billion (yearon-year decrease of ¥22.6 billion).
Regarding domestic business, sales amount of newsprint almost remained unchanged from the previous year due to pricerevision, although its demand continued to decline. Sales amount of printing paper increased from the previous year due tohigher demand for domestic products resulting from a decline in imported paper, in addition to price revision.
Regarding overseas business, sales amount increased from the previous year at Jiangsu Oji Paper Co., Ltd..

3 / 11Forecast for the Year Ending March 31, 2024 (April 1, 2023 - March 31, 2024, "FY2023")
Net sales

Operating income

Billions of yen

Billions of yen

Ordinary income
Billions of yen

Profit attributableto owners of parent
Billions of yen

Profit per share
YenFirst Half of FY2023

860.0

45.0

43.0

28.0

28.25

First Half of FY2022

837.5

40.4

60.2

37.9

38.28

Increase (Decrease)

22.5

4.6

(17.2)(9.9)

Increase (Decrease) %

2.7%

11.4%

(28.6%)(26.2%)FY20231,800.0

100.0

100.0

65.0

65.58

FY2022

1,706.6

84.8

95.0

56.5

57.00

Increase (Decrease)

93.4

15.2

5.0

8.5

Increase (Decrease) %

5.5%

17.9%

5.3%

15.1%

<FY2023 Forecast and Future Outlook >The forecast for the next fiscal year is based on net sales of ¥1,800.0 billion, operating profit of ¥100.0 billion,
ordinary profit of ¥100.0 billion, and net profit attributable to owners of parent of ¥65.0 billion.
The second year of our FY2022-2024 Medium-term Management Plan has begun. We have been facing drasticchanges in the business environment, including sharp rises in raw material and fuel prices and significant
fluctuations in foreign exchange rates. However, we will continue to steadily implement our "Initiatives forEnvironmental Issues -Sustainability-", "Initiatives for Profitability Improvement -Profitability-" and "Initiatives
for Product Development -Green Innovation-" to achieve further growth and evolution, and to enhance ourcorporate value.
The assumed exchange rates for FY2023 forecast are as follows:
Exchange rates(Reference) Sensitivity for operating income

JPY/USD

130.00 Approx. ¥0.93 billion with a fluctuation of USD by 1% (strong USD: ‐)BRL/USD

5.20 Approx. ¥0.58 billion with a fluctuation of USD by 1% (strong USD: +)NZD/USD

1.60 Approx. ¥0.81 billion with a fluctuation of USD by 1% (strong USD: +)4 / 112. Outline of Business Performance and Financial Situation
Billions of yen

Business Performance
FY2022

Forecasts for FY2023

Increase(Decrease)from FY2021

Net Sales
Domestic
Overseas

1,706.6

236.5

1,064.6

87.3

Increase(Decrease)from FY2022

1,800.0

93.4

642.1

149.2

37.6%

4.1%

Operating Profit

84.8(35.3)

100.0

15.2

Ordinary Profit

95.0(40.1)

100.0

5.0

Profit attributable to owners of parent

56.5(31.0)

65.0

8.5

ratio

Billions of yen
Depreciation

73.0

7.1

74.7

1.7

Capital expenditure

89.8(16.7)

89.0

(0.8)

Average foreign exchange rate
FY2022

Forecasts for FY2023

Increase(Decrease)from FY2021

Increase(Decrease)from FY2022

JPY ／ USD April to March

135.5

23.1

130.0

(5.5)

BRL ／ USD January to December

5.17(0.22)

5.20

0.03

NZD ／ USD January to December

1.58

0.17

1.60

0.02

CNY／ USD January to December

6.74

0.29

6.90

0.16

Financial situation

Billions of yen
Mar 31,2023
Increase(Decrease)from Mar 31,2022

Total assets

2,296.0

Net assets

964.6

89.1

Interest bearing debts

788.3

137.8

Net debts (Interest bearing debts - Cash and cash equivalents at end of period)

731.3

136.6

242.3

Consolidated Statements of Cash Flows

Billions of yen
FY2022
Increase(Decrease) from FY2021

Cash flows from operating activities

18.3(125.3)

Cash flows from investing activities(123.3)(30.7)Cash flows from financing activities

101.8

237.8

Number of employees

personMar 31,2023
Increase(Decrease)from Mar 31,2022

Number of employees

37,8452,237

Domestic

16,192(176)

Overseas

21,6532,413

5 / 11

3. Consolidated Financial Statements and Notes(1)Consolidated balance sheets(Unit : Millions of yen)

FY2021Mar 31,2022
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Contract assets
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Short-term loans receivable
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Forests
Standing timber
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Long-term prepaid expenses
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

6 / 11

FY2022
Mar 31,2023

44,74960,227260,231
3,983
11,074
98,616
20,294106,266
4,764
18,57518,800(1,790)645,795

50,77464,768309,604
2,995
6,299
117,473
23,510140,337
4,101
33,87736,717(1,791)
788,670

709,982(513,533)
196,448
2,495,207(2,156,261)
338,946
61,622(56,037)
5,585
240,765
116,490
92,34365,356(22,713)42,64394,091
1,127,315

746,007(529,962)
216,0452,629,592(2,221,722)
407,869
63,934(57,380)
6,553
242,287
133,123
111,352
76,573(29,209)47,363
43,6391,208,234

3,472
8,079
11,552

11,868
14,11925,988

168,5455,571
3,497
61,542
8,819
22,095(982)
269,089
1,407,956
2,053,752

180,067
4,693
2,760
53,837
6,816
26,921(1,972)
273,124
1,507,347
2,296,018

(Unit : Millions of yen)

FY2021Mar 31,2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Commercial papers
Accounts payable - otherAccrued expenses
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Retirement benefit liability
Long-term deposits received
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
Deferred gains or losses on hedges
Revaluation reserve for land
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

7 / 11

FY2022
Mar 31,2023

234,650
166,445－
24,65351,45723,99331,818533,020

251,176
226,739
86,00020,11149,80916,64336,591
687,070

155,000
329,062
64,0137,737
54,022
6,809
28,616645,261
1,178,282

155,000
320,599
69,283
7,732
53,5376,620
31,609644,383
1,331,453

103,880
99,163567,150(13,277)
756,918

103,880
85,892607,593(12,949)
784,418

30,5002,076
5,728
29,593
26,41594,314
157
24,080875,470
2,053,752

41,573474
5,716
85,253
19,514
152,531134
27,480964,564
2,296,018

(2)Consolidated statements of income and comprehensive income
Consolidated statements of income(Unit : Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Freight and incidental costs
Storage costs
Employees' salaries
Retirement benefit expenses
Depreciation
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using equity method
Gain on valuation of derivatives
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Insurance claim income
Gain on sale of investment securities
Gain on return of assets from retirement benefits trust
Other
Total extraordinary income
Extraordinary losses
Loss on disaster
Loss on retirement of non-current assets
Business restructuring expenses
Provision for loss on litigation
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

8 / 11

FY2021
Apr '21 - Mar '22

FY2022
Apr '22 - Mar '23

1,470,161
1,126,207
343,954

1,706,641
1,366,642
339,999

112,417
6,771
52,957(241)
5,624
46,306
223,834
120,119

135,135
6,747
55,105695
6,080
51,417
255,181
84,818883
3,269
15,404
2,679
1,367
6,777
30,381

1,367
3,632
8,337
2,924
2,838
6,325
25,427

6,692
8,708
15,401
135,100

6,310
8,925
15,23695,008

904
651
1,049
2,300
4,906

4,992
1,065
－
270
6,327

2,007
2,283
1,869
－
4,584
10,745
129,262
37,476(614)
36,861
92,4004,890
87,509

7,634
3,159
1,909
1,839
2,175
16,71884,617
26,43441
26,47658,141
1,657
56,483

Consolidated statements of comprehensive income(Unit : Millions of yen)

FY2021
Apr '21 - Mar '22
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

9 / 11

FY2022
Apr '22 - Mar '23

92,40058,141(1,655)(711)
42,093277
2,984

10,707(1,611)
56,129(7,735)
1,516

42,988135,388

59,007
117,148

123,713
11,674

114,664
2,484

(3)Consolidated Statements of Cash Flows(Unit : Millions of yen)

Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Depletion of standing timber
Increase (decrease) in allowance for doubtful accounts
Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using equity method
Loss (gain) on sale of investment securities
Loss (gain) on return of assets from retirement benefits trust
Loss on retirement of non-current assets
Business restructuring expenses
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
Purchase of property, plant and equipment and intangible assets
Proceeds from sale of property, plant and equipment and intangible assets
Purchase of investment securities
Proceeds from sale and redemption of investment securities
Loan advances
Proceeds from collection of loans receivable
Purchase of shares of subsidiaries resulting in change in scope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Net increase (decrease) in commercial papers
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares of subsidiaries
Repayments of lease liabilities
Dividends paid
Purchase of shares of subsidiaries not resulting in change in scope of consolidation
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
Increase in cash and cash equivalents resulting from merger
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation
Cash and cash equivalents at end of period

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FY2021
Apr '21 - Mar '22

FY2022
Apr '22 - Mar '23

129,262
65,885804
6,995
31(3,498)(60)(4,152)
6,692(12,626)(2,679)282(1,049)2,283
1,869(20,960)(26,001)
33,937(10,243)
166,771
4,962(5,805)(22,341)
143,587

84,61773,034
1,058
7,895
911
(3,240)(1,415)(5,000)6,310(6,911)(2,924)(1,052)
－
3,159
1,909
(43,889)(42,615)
9,533(18,740)
62,642
7,731(5,169)(46,940)
18,262(98,659)
2,905(1,308)
4,967
(546)
1,640
(1,441)(125)(92,567)(94,109)555(1,747)
3,404
(911)
2,484
(32,864)(85)(123,274)(23,001)－
26,003(5,218)(77,000)(6,952)(13,889)(35,059)(883)(136,002)
4,691(80,291)
135,669115(20)
55,47433,31086,00064,655(59,881)－(6,618)(14,883)
(307)
(487)
101,787
4,637
1,413
55,474－(50)
56,837

(4)Notes(Changes in accounting policies)(Application of ASU No. 2016-02 “Leases”)
The Group’s subsidiaries that apply the US Generally Accepted Accounting Principles (GAAP) have adopted the
Accounting Standards Update (ASU) No. 2016-02 “Leases” from the end of the current fiscal year. Accordingly, as a rule,
the Group recognizes all leases as right-of-use assets and lease liabilities on the commencement date of adoption. The
method of recognizing the cumulative impact on the commencement date of adoption, which is permitted as an interim
measure, was employed for the adoption of this accounting standard.
The impact of the adoption of this accounting standard on the consolidated financial statements in the current fiscal year isimmaterial.

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