Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Non-Consolidated Financial Results
for the Year Ended July 31, 2023
(Based on Japanese GAAP)
September 11, 2023
Company name:Samco Inc.

Stock exchange listing: Tokyo
Stock code:
6387

URL

https://www.samco.co.jp

Representative:

President & COO
Tsukasa Kawabe
Director, Executive Officer, Accounting andInquiries:
Shozo Miyamoto
Administration
Scheduled date of ordinary general meeting of shareholders:
October 24, 2023
Scheduled date to file Securities Report:
Scheduled date to commence dividend payments:

October 24, 2023
October 25, 2023

Preparation of supplementary material on financial results:
Holding of financial results meeting:

Yes
Yes

TEL

075-621-7841(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Non-consolidated financial results for the year ended July 31, 2023 (from August 1, 2022 to July 31, 2023)(1) Non-consolidated operating results

Percentages indicate year-on-year changes
Net salesYear ended July 31, 2023
Year ended July 31, 2022

Millions of yen
7,830
6,401

Operating profit
%
22.3
11.4

Millions of yen
1,858
1,371

Diluted earnings pershare
Yen
Yen
170.07–131.07–

Earnings per share
Year ended July 31, 2023
Year ended July 31, 2022

Ordinary profit
%
35.6
38.6

Millions of yen
1,927
1,481

Profit%30.1
41.8

Millions of yen
1,366
1,052%
29.7
39.3

Ordinary profit/total Operating profit/net
assetssales%%%
12.913.7
23.7
10.8
11.6
21.4

Profit/equity(2) Non-consolidated financial position
Total assets
As of July 31, 2023
As of July 31, 2022

Net assets

Equity ratio

Millions of yen
14,795
13,379Millions of yen
11,144
10,057

Cash flows fromoperating activities
Millions of yen
(189)
1,181

Cash flows frominvesting activities
Millions of yen
(75)
(214)

Net assets per share%
75.3
75.2

Yen
1,387.39
1,252.06(3) Non-consolidated cash flows

Year ended July 31, 2023
Year ended July 31, 2022

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(325)
3,374(64)3,919

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended July 31, 2022
Year ended July 31, 2023
Year ending July 31, 2024
(Forecast)

Total cash
dividends (Total)

Total

Dividend payout
ratio (Nonconsolidated)

Ratio of dividends
to net assets (Nonconsolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

––

0.00
0.00

––

35.00
45.00

35.00
45.00

281
361

26.726.5

2.9
3.4

–0.00

–

45.00

45.00

1

23.9

3. Forecast of non-consolidated financial results for the year ending July 31, 2024 (from August 1, 2023 to July 31, 2024)
Percentages indicate year-on-year changes
Net sales
Millions of yen
Six months ending
January 31, 2024
Full year

Operating profit% Millions of yen

Ordinary profit% Millions of yen

Profit% Millions of yen

Earnings per share%Yen

4,520

17.4

1,140

18.2

1,150

17.1

780

11.3

97.10

8,500

8.5

1,990

7.0

2,010

4.3

1,370

0.3

170.56

4. Notes(1) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(2) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of July 31, 2023

8,042,881 shares As of July 31, 2022

8,042,881 shares

10,405 shares As of July 31, 2022

10,128 shares

8,032,618 shares Year ended July 31, 2022

8,032,762 shares

Number of treasury shares at the end of the period
As of July 31, 2023
Average number of shares during the period
Year ended July 31, 2023

2

Non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of July 31, 2022

As of July 31, 2023

AssetsCurrent assets
Cash and deposits
Notes receivable - trade

5,826,790
11,4295,301,752
12,252

Electronically recorded monetary claims - operating
Accounts receivable - trade57,931
536,715

182,574
1,449,637

Contract assets
Finished goods

777,072
7,974

1,040,189–

1,268,297
308,935

1,741,835
428,537

12,522
32,9199,815
29,974(141)(20,984)

8,840,448

10,175,585

Work in process
Raw materials and supplies
Prepaid expenses
Other
Allowance for doubtful accounts
Total current assets3

(Thousands of yen)
As of July 31, 2022

As of July 31, 2023

Non-current assets
Property, plant and equipment
Buildings

1,099,671

1,113,037

Accumulated depreciation(798,686)(824,645)

Buildings, net

300,985

288,392

27,10027,100(24,908)(25,093)

2,191

2,007

Structures
Accumulated depreciation
Structures, net
Machinery and equipment
Accumulated depreciation
Machinery and equipment, net
VehiclesAccumulated depreciation
Vehicles, net

764,976

689,649(732,673)(670,345)

32,302

19,30355,02456,314(51,251)(52,778)

3,773

3,536

Tools, furniture and fixtures

243,062

256,030

Accumulated depreciation(224,898)(233,988)

Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation

18,16422,042

3,453,567

3,453,567

50,790(49,780)

50,790(50,790)

Leased assets, net

1,009

–

Construction in progress

3,869

74,611

3,815,865

3,863,459

Telephone subscription rightSoftware

2,962
–

2,962
1,402

Right to use water facilities
Leased assets

143
1,828

––

Total intangible assets

4,934

4,364

Investments and other assets
Investment securities

290,122300,794

Shares of subsidiaries and associates
Investments in capital

25,2075,000

25,2075,000

Long-term loans receivable from subsidiaries andassociates

19,044

12,150Deferred tax assets
Guarantee deposits

121,990
76,823

129,893
78,378Insurance funds
Other179,066
1,138

199,206
991

Total investments and other assets

718,392

751,621

Total property, plant and equipment
Intangible assets

Total non-current assets
Total assets

4

4,539,192

4,619,445

13,379,640

14,795,031

(Thousands of yen)
As of July 31, 2022

As of July 31, 2023

Liabilities
Current liabilities
Accounts payable - trade779,591

861,405

Short-term borrowings
Current portion of long-term borrowings

700,000
39,996700,000
39,996

Lease liabilities
Accounts payable - other

2,838
110,224–
126,249

Accrued expenses
Income taxes payable

38,697258,203

43,846
411,448

Contract liabilities
Deposits received

217,378
35,443335,648
39,874

Provision for bonuses
Provision for bonuses for directors (and other officers)

23,70030,00025,50030,000

Provision for product warranties
Other

15,40062,76618,00044,069Total current liabilities

2,314,240

2,676,039

Non-current liabilities
Long-term borrowings

143,339

103,343

479,575

476,640

384,954394,752Provision for retirement benefits
Provision for retirement benefits for directors (and otherofficers)
Total non-current liabilities

1,007,868

974,736

3,322,108

3,650,775

1,663,687

1,663,687

Legal capital surplus

2,079,487

2,079,487

Total capital surplus

2,079,487

2,079,487

59,50059,5004,367,000
1,752,437

4,367,000
2,837,418

6,178,937

7,263,918(12,238)(13,453)

9,909,873

10,993,640

Valuation difference on available-for-sale securities

147,658

150,615

Total valuation and translation adjustments147,658

150,615

10,057,532

11,144,255

13,379,640

14,795,031

Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus

Retained earnings
Legal retained earnings
Other retained earnings
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders' equity
Valuation and translation adjustments

Total net assets
Total liabilities and net assets

5Non-consolidated statements of income(Thousands of yen)

Net sales
Cost of sales

Fiscal year ended

Fiscal year ended

July 31, 2022

July 31, 2023

6,401,870

7,830,591

Beginning finished goods inventory
Cost of products manufactured

55,667
3,164,330

7,974
3,953,590

Total

3,219,997

3,961,565

Ending finished goods inventory

7,974

–

3,212,022

3,961,565

Gross profit

3,189,847

3,869,026

Selling, general and administrative expenses

1,818,641

2,010,032

Operating profit

1,371,206

1,858,994

Interest income
Dividend income

390
3,992

302
23,674Foreign exchange gains
Rental income

87,594
11,86030,60911,437

Subsidy income
Electricity sale income

1,595
1,397

1,904
1,344

Penalty income
Miscellaneous income

5,199
2,271

–
3,167

114,30272,439

3,865

4,268

237

0

4,103

4,268

Ordinary profit

1,481,405

1,927,165

Profit before income taxes

1,481,405

1,927,165

Income taxes - current
Income taxes - deferred

377,51050,984570,239(9,202)

Cost of finished goods sold

Non-operating income

Total non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of non-current assets
Total non-operating expenses

Total income taxes
Profit6428,494

561,037

1,052,910

1,366,127

Non-consolidated statements of changes in equity
Fiscal year ended July 31, 2022
(Thousands of yen)
Shareholders' equity
Capital surplus

Retained earnings
Other retained earnings

Share capital Legal capital Total capitalsurplussurplus

Balance at beginning of
period

1,663,687

2,079,487

2,079,487

Legalretainedearnings

59,500Generalreserve

Total
retainedearnings

3,867,000

1,590,547

5,517,047(150,037)(150,037)

1,440,510

5,367,010

Cumulative effects ofchanges in accounting
policies
Restated balance

1,663,687

2,079,487

2,079,487

59,500TreasurysharesRetainedearnings
brought
forward3,867,000(12,184)

Total
shareholders'equity9,248,037(150,037)(12,184)

9,098,000

Changes during period
Dividends of surplus(240,983)(240,983)(240,983)

Profit

1,052,910

1,052,910

1,052,910(500,000)––

Provision of generalreserve

500,000

Purchase of treasury
shares(54)(54)

Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period

–

––

–

500,000

311,927

811,927(54)

811,872

1,663,687

2,079,487

2,079,487

59,5004,367,000

1,752,437

6,178,937(12,238)

9,909,873

Valuation and translation
adjustments
Valuation
Totaldifference on valuation
availableandfor-saletranslation
securities
adjustments
Balance at beginning ofperiod

162,165

162,165

Cumulative effects ofchanges in accounting
policies
Restated balance

Total net
assets9,410,203(150,037)
162,165

162,165

9,260,166

Changes during period
Dividends of surplus(240,983)

Profit

1,052,910

Provision of generalreserve–

Purchase of treasury
shares(54)

Net changes in items
other than shareholders'equity(14,507)(14,507)(14,507)

Total changes duringperiod(14,507)(14,507)797,365

Balance at end of period

147,658

147,658

10,057,532

7Fiscal year ended July 31, 2023
(Thousands of yen)
Shareholders' equity
Capital surplus

Retained earnings
Other retained earnings
TreasurysharesTotalshareholders'equityGeneralreserve

Retainedearnings
brought
forwardTotal
retainedearnings

4,367,000

1,752,437

6,178,937

Dividends of surplus(281,146)(281,146)(281,146)

Profit1,366,127

1,366,127

1,366,127

Share capital Legal capital Total capitalsurplussurplus

Balance at beginning ofperiod

1,663,687

2,079,487

2,079,487

Legalretainedearnings

59,500(12,238)

9,909,873

Changes during period

Purchase of treasury
shares(1,214)(1,214)

Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period

––––

–

1,084,981

1,084,981(1,214)

1,083,766

1,663,687

2,079,487

2,079,487

59,5004,367,000

2,837,418

7,263,918(13,453)

10,993,640

Valuation and translation
adjustments
Valuation
Totaldifference on valuation
availableandfor-saletranslation
securities
adjustments
Balance at beginning of
period147,658

147,658

Total net
assets

10,057,532

Changes during period
Dividends of surplus(281,146)

Profit1,366,127

Purchase of treasury
sharesNet changes in items
other than shareholders'equity(1,214)

2,956

2,956

2,956

Total changes during
period

2,956

2,956

1,086,723

Balance at end of period

150,615150,615

11,144,255

8

Non-consolidated statements of cash flows(Thousands of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

July 31, 2022

July 31, 2023

1,481,405

1,927,165

Depreciation
Interest and dividend income

75,525(4,383)57,476(23,976)

Interest expenses
Foreign exchange losses (gains)

3,865(95,297)

4,268(28,118)

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses

(57)
600

20,842
1,800

Increase (decrease) in provision for product warranties
Increase (decrease) in provision for retirement benefits(3,000)19,4792,600(2,934)

Increase (decrease) in provision for retirement benefits for
directors (and other officers)

9,662

9,798

Decrease (increase) in trade receivables
Decrease (increase) in contract assets(619,116)
777,072(1,038,387)(263,116)

Decrease (increase) in inventories
Increase (decrease) in trade payables(525,555)
133,058(667,825)
81,813

Increase (decrease) in contract liabilities
Other, net

137,704
89,509118,269
13,301

1,480,473

212,977

4,320(3,891)

24,100(4,378)

Income taxes refund (paid)(299,734)(422,095)

Net cash provided by (used in) operating activities

1,181,167(189,395)

Payments into time deposits
Proceeds from withdrawal of time deposits(2,615,463)
2,605,577(2,647,225)
2,607,935

Purchase of investment securities
Purchase of property, plant and equipment(5,957)(234,223)(6,416)(18,852)

Proceeds from collection of loans receivable
Purchase of insurance funds

53,009(20,140)

13,304(20,140)

SubtotalInterest and dividends received
Interest paid

Cash flows from investing activities

Other, net

3,156(4,534)(214,042)(75,930)

Proceeds from long-term borrowingsRepayments of long-term borrowings

183,335––(39,996)

Purchase of treasury shares
Dividends paid

(54)
(240,983)(1,214)(281,146)

Net cash provided by (used in) investing activities
Cash flows from financing activities

Other, net(6,403)(2,838)Net cash provided by (used in) financing activities(64,106)(325,194)

Effect of exchange rate change on cash and cash equivalents

51,25745,305

Net increase (decrease) in cash and cash equivalents

954,275(545,215)

Cash and cash equivalents at beginning of period

2,965,313

3,919,589

Cash and cash equivalents at end of period

3,919,589

3,374,374

9