Flash Report Consolidated Basis
Results for Fiscal 2023
(April 1, 2023-March 31, 2024)＜under Japanese GAAP＞
April 26, 2024
OSAKA STEEL CO., LTD.
Standard Market,Tokyo Stock Exchange5449
https://www.osaka-seitetu.co.jp
Taisuke Nomura, PRESIDENT
Hidehiko Shimada,
GENERAL MANAGER,
HEAD OF ACCOUNTING & FINANCE DIV.
+81-6-6204-0163

Company name:
Stock listing:Code number:
URL:
Representative:
Contact:
Telephone:(Figures of less than ¥1 million have been omitted.)

1. Consolidated Financial and Operating Results for Fiscal 2023
(April 1, 2023-March 31, 2024)(1)Consolidated Operating Results（Percentage figures represent changes from the same period of the previous fiscal year.）
Profit attributable
Net sales
Millions of yen
Fiscal 2023

117,340

Operating profit
Millions of yen％
0.2

7,013

Fiscal 2022
117,141
12.1(Reference) Comprehensive income
Fiscal 2023
Fiscal 2022
Earnings pershare

Ordinary profit

parentMillionsof％％
yen
(1.3)
3,121
7.5

Millions of％
yen
18.2
6,304

5,935
53.6
¥ 2,260 million¥ 2,926 million

to owners of

6,384(22.8)%(4.5)%

61.3

2,903

13.1

Earnings per
share after full

Return on equity Return on assets Return on sales

dilution
Yen

Yen%%

Fiscal 2023

80.21

―

2.1

Fiscal 2022

74.60

―

1.9

(Reference) Equity in profit of unconsolidated subsidiaries and associates:

%
3.0

6.0

3.0

5.1

Fiscal 2023 ¥― million
Fiscal 2022 ¥― million(2)Consolidated Financial Results
Ratio ofTotal assets

Fiscal 2023

Net assets

shareholders’ equity

Millions of yen
204,884

Millions of yen
154,389

to total assets％
74.3

213,243

153,103

70.8

Fiscal 2022
(Reference) Shareholders’ equity:

Fiscal 2023 ¥152,188 million
Fiscal 2022 ¥150,980 million

Net assets per share
Yen
3,910.35
3,879.28

(3)Consolidated Statements of Cash Flows
Cash flows from

Cash flows from

Cash flows fromoperating activities

investing activities

financing activities

Cash and cash
equivalents

Fiscal 2023

Millions of yen(1,067)

Millions of yen(2,923)

Millions of yen(16,633)

at end of period
Millions of yen
43,111

Fiscal 2022

5,086

(3,758)(749)

63,477

２．Dividends
Dividends per share
End of first

End of second

End of thirdquarter
Yenquarter
Yenquarter
Yen

End of fiscal yearTotalYen

Yen

Fiscal 2022

―

8.00

―

14.50

22.50

Fiscal 2023

―

10.00

―

14.50

24.50

Fiscal 2024(Forecasts)

―

15.00

―

19.00

34.00

Cash dividends

Ratio of cash dividends

Ratio of cash dividends

to net income％to net assets％

Millions of yen
Fiscal 2022

875

30.2

0.6

Fiscal 2023

953

30.5

0.6

Fiscal 2024(Forecasts)

30.1

.

３．Consolidated Financial Forecasts for Fiscal 2024(April 1, 2024-March 31, 2025)（Percentage figures represent changes from the same period of the previous fiscal year. ）ProfitNet sales

Operating profit

Ordinary profit

attributable toEarnings perowners ofshareparent
Millions ofyen％Millions ofyen％Millions ofyen％Millions ofyen％

YenFirst half of Fiscal 2024

60,0004.2

3,000(16.9)

3,000(15.8)

1,900(16.6)

48.82

Fiscal 2024

120,000

2.3

6,500(7.3)

6,500

3.1

4,400

41.0

113.05（Reference）Summary of Non-Consolidated Financial and Operating Results
Non-Consolidated Financial and Operating Results for Fiscal 2023
(April 1, 2023-March 31, 2024)(1)Non-Consolidated Operating Results（Percentage figures represent changes from the same period of the previous fiscal year. ）Net sales
Millions of yen

Operating profit％

Millions of yen

Ordinary profit％

Fiscal 2023

91,3096.7

6,426 (11.0)

Fiscal 2022

85,57611.5

7,217 210.1

Earnings per share
Yen

Millions ofyen
7,294％(4.3)

7,624 192.6

ProfitMillions of yen(1,684)％―

9,394 (15.8)

Earnings per shareafter full dilution
Yen

Fiscal 2023

(43.29)―Fiscal 2022

241.39―(2)Non-Consolidated Financial Results
Ratio ofTotal assets

Net assets

shareholders’ equity

Fiscal 2023

Millions of yen
182,484

Millions of yen
142,319

to total assets％78.0

Fiscal 2022

189,537

144,879

76.4(Reference) Shareholders’ equity: Fiscal 2023 ¥142,319 million
Fiscal 2022 ¥144,879 million

Net assets per shareYen
3,656.78
3,722.51

1. Consolidated Financial Statements(1) Consolidated Balance Sheets
Millions of yen
March 31, 2024

March 31, 2023
AssetsCurrent assets
Cash and deposits
Accounts receivable - tradeFinished goods
Work in process
Raw materials and supplies
Accounts receivable - other
Short-term loans receivable from subsidiaries and associates
Deposits paid
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, netTools, furniture and fixtures, net
LandConstruction in progress
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable from subsidiaries and associates
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4,87024,148
16,906
511
8,305
9,595
10,00058,607183(132)
132,995

5,724
28,36923,042
798
7,824
11,999―37,387256(181)
115,222

8,662
26,683
2,367
37,1852,565
77,464

8,568
25,724
2,339
37,075
3,026
76,734

16
16

18
18

565
―
625
91
1,485
(0)
2,766
80,247
213,243669
10,000
719
92
1,428
(0)
12,91089,662
204,884

March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - otherIncome taxes payable
Provision for repairs
Provision for business restructuring
Other
Total current liabilities
Non-current liabilities
Deferred tax liabilities
Retirement benefit liability
Provision for business restructuring
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
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

Millions of yen
March 31, 2024

19,322
21,901
7,773
2,891
962
589
327
2,027
55,795

21,58016,665
―
3,819
1,486
643
―
1,293
45,487

1,209
1,876
924
333
4,343
60,139

1,607
1,932
1,137
329
5,006
50,494

8,769
10,355
135,426(4,537)150,013

8,769
10,355
137,594(4,538)152,181

223
45
409
289
967
2,122
153,103213,243

302
(33)
(589)
328
7
2,201
154,389
204,884

(2) Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income
Consolidated Statements of Operations

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Transportation costs
Salaries and bonuses
Retirement benefit expenses
Depreciation
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rental income from non-current assets
Gain on sale of investment securities
Foreign exchange gains
Gain on valuation of interest rate swaps
Subsidy income
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of non-current assets
Taxes and dues
Foreign exchange losses
Loss on valuation of interest rate swaps
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Business restructuring expenses
Loss on sale of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

Fiscal 2022
117,141
104,638
12,503

Millions of yen
Fiscal 2023
117,340
103,253
14,087

3,145
1,229
17
73
2,102
6,567
5,935

3,404
1,282
31
73
2,281
7,073
7,013

156
21
407
2
―
1,019
―
129
1,737

176
21
386
39
126
―
158
83
993

482
140
98
465
―
101
1,288
6,384

1,065
180
115
―
133
207
1,702
6,304

1,357
―
1,357
5,027
2,764
(350)
2,413
2,614(289)
2,903

458
104
562
5,741
2,157
353
2,511
3,229
108
3,121

Consolidated Statements of Comprehensive Income

2,614

Millions of yen
Fiscal 2023
3,229

1(51)
317
44
312
2,926

79(84)(1,002)38(969)2,260

3,165(239)

2,162
98

Fiscal 2022
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
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

(3) Consolidated Statements of Changes in Net Assets

Fiscal 2022

Millions of yen
Shareholders' equity
Share capital

Balance at beginning of period

Capital surplus

8,769

10,355Retainedearnings

Treasury shares

133,359(4,537)

Total
shareholders'equity147,947

Changes during period
Dividends of surplus

(836)

(836)

Profit attributable to owners of parent

2,903

2,903

Purchase of treasury shares
Disposal of treasury shares
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

0(0)

(0)

00―0

2,066

(0)

2,066

8,769

10,355

135,426(4,537)150,013

Accumulated other comprehensive income
TotalValuation
Deferred gains or Foreign currency Remeasurement
accumulateddifference onlosses ontranslations of defined
otheravailable-for-salehedgesadjustment
benefit planscomprehensive
securities
incomeBalance at beginning of period

221

89

147

246

704

Non-controllinginterests

2,376

Total net assets

151,028

Changes during period
Dividends of surplus(836)

Profit attributable to owners of parent

2,903

Purchase of treasury shares(0)

Disposal of treasury shares
Net changes in items other thanshareholders' equity

01(44)

261

43262(253)8

Total changes during period

1(44)

261

43262(253)

2,074

223

45

409

289

967

2,122

153,103

Balance at end of periodFiscal 2023

Millions of yen
Shareholders' equity
Share capital

Balance at beginning of period

8,769

Capital surplus

10,355Retainedearnings

Treasury shares

135,426(4,537)

Total
shareholders'equity150,013

Changes during period
Dividends of surplus

(953)

(953)

Profit attributable to owners of parent

3,121

3,121

Purchase of treasury shares
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period(0)

(0)

――

2,168

(0)

2,167

8,769

10,355

137,594(4,538)152,181

Accumulated other comprehensive income
TotalValuation
Deferred gains or Foreign currency Remeasurement
accumulateddifference onlosses ontranslations of defined
otheravailable-for-salehedgesadjustment
benefit planscomprehensive
securities
incomeBalance at beginning of period

223

45

409

289

967

Non-controllinginterests

2,122

Total net assets

153,103

Changes during period
Dividends of surplus(953)

Profit attributable to owners of parent

3,121

Purchase of treasury shares
Net changes in items other thanshareholders' equity

79(79)(998)

38(959)78(881)

Total changes during period

79(79)(998)

38(959)

78

1,286

302

(33)

(589)

328

7

2,201

154,389

Balance at end of period(0)（4）Consolidated Statements of Cash Flows
Millions of yen
Fiscal 2023

Fiscal 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for repairs
Increase (decrease) in provision for business restructuring
Interest and dividend income
Interest expenses
Loss on retirement of non-current assets
Loss (gain) on sale of non-current assets
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in accounts receivable - other
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Increase (decrease) in accrued consumption taxes
Loss (gain) on valuation of interest rate swaps
Other, netSubtotal
Interest and dividends received
Interest paid
Subsidies received
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Proceeds from sale of non-current assets
Purchase of non-current assets
Proceeds from sale of investment securities
Collection of loans receivable from subsidiaries and affiliates
Loan advances to subsidiaries and associates
Other proceeds
Other payments
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from sale of treasury shares
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
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

5,027
4,264
(26)
(12)
1,027
(177)
482
140
(4)
(2)
(48)
907
(1,036)(943)(930)
102(224)176(1,019)
377
8,079
178
(314)
―
(2,856)
5,086

5,741
4,443
39
54(114)
(197)
1,065
180
102
(39)
(3,806)(5,478)(2,390)1,954
1,052
54(94)
(726)
133
(602)
1,371
187
(1,273)223(1,576)(1,067)

6(3,768)3
10,000(10,000)
1(2)(3,758)296(3,217)49
10,000(10,000)3(56)(2,923)

3,029
828(3,755)
0(0)
(836)
(15)
(749)
503
1,081
62,39663,477(7,176)―(8,482)
―(0)
(953)
(20)
(16,633)
258(20,366)
63,477
43,111