Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Year Ended March 31, 2023
[Japanese GAAP]May 15, 2023
Company name: SHIBAURA MACHINE CO., LTD.
Stock exchange listing: Tokyo
Code number: 6104
URL: https://www.shibaura-machine.co.jp
Representative: Shigetomo Sakamoto

President and Chief Operating Officer
Public Relations & Investor Relations Department Senior
ManagerContact: Minoru Aoki

Phone: +81-3（3509）0444
Scheduled date of Annual General Meeting of Shareholders: June 26, 2023
Scheduled date of commencing dividend payments: June 5, 2023
Scheduled date of filing annual securities report: June 26, 2023
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes(Amounts of less than one millions of yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen%
Millions of yen%
Millions of yen%
Millions of yen%
Fiscal year ended
March 31, 2023
123,197
14.3
5,765
36.1
5,279
16.2
6,441
72.9
March 31, 2022
107,777
16.3
4,236
4,544
420.6
3,725
(Note) Comprehensive income:Fiscal year ended March 31, 2023:¥7,392 million [19.0%]
Fiscal year ended March 31, 2022:¥6,212 million [-%]
Basic earnings per Diluted earnings per Rate of return onshareshareequity
Yen
Fiscal year ended
March 31, 2023
266.63
March 31, 2022
154.27(Reference) Equity in earnings (losses) of affiliated companies:

Yen

Ordinary profit tototal assets ratio

%

7.5
4.6
Fiscal year ended March 31, 2023:
Fiscal year ended March 31, 2022:

Operating profit tonet sales ratio

%%

2.8
2.9
¥
¥

4.7
3.9
millionmillion(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2023
March 31, 2022
(Reference) Equity:

Net assets

Millions of yen

205,100
166,989As of March 31, 2023:
As of March 31, 2022:

Capital adequacy ratio

Millions of yen¥¥89,118
83,515
89,118 million
83,515 million

Net assets per share%

Yen

43.5
50.0

3,688.28
3,457.58(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2023
March 31, 2022

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

934
11,299(563)(1,264)(2,277)(2,108)50,85551,7102. Dividends
Annual dividends
1st2nd3rdquarter-end quarter-end quarter-end

Year-end

Total
dividends

Total

Fiscal year ended

YenYenYen

Yen

March 31, 2022

-

37.50

-

37.50

75.00

March 31, 2023

-

37.50

-

70.00

107.50

-

70.00

-

70.00

140.00

Payoutratio(consolidated)

Yen Millions of yen

Dividends
to netassets(consolidated)

%%

1,811

48.6

2.2

2,597

40.3

3.0

Fiscal year ending
March 31, 2024

18.8

(Forecast)(Note) Breakdown of the year-end dividend for the fiscal year ended March 31, 2023 :Commemorative dividend- yenSpecial dividend- yen
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable Basic earnings per
Net sales
Operating profit
Ordinary profit
to owners of parent
share
Six months ending
September 30, 2023
Full year

Millions ofyen%

Millions ofyen%Millions ofyen%Millions ofyen%

Yen

80,000

35.7

6,000

259.1

5,600

159.6

12,000549.4

496.64

180,000

46.1

15,000160.214,500

174.7

18,000179.4

744.95* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): NoNew(Company name:)
Exclusion:(Company name:)(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2023:
26,977,106 shares
March 31, 2022:
29,977,106 shares
2) Number of treasury shares at the end of the period:
March 31, 2023:
2,814,565 shares
March 31, 2022:
5,822,705 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2023:
Fiscal Year ended March 31, 2022:

24,160,104 shares
24,151,736 shares

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2023
March 31, 2022

Operating profit

Ordinary profit

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

93,80577,650

20.8
20.3

1,901
630

201.8
-

4,245
2,797

51.8
-

6,445
3,305

95.0
-

Basic earnings per share Diluted earnings per share
Fiscal year ended
March 31, 2023
March 31, 2022

Yen

Yen

266.78136.87-(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2023
March 31, 2022
(Reference) Equity:

Net assets

Millions of yen

174,100
135,928
As of March 31, 2023:
As of March 31, 2022:

Capital adequacy ratio

Millions of yen¥¥

70,966
66,59670,966 million
66,596 million

Net assets per share%Yen

40.8
49.0

2,937.03
2,757.10

Consolidated Financial Statements
Consolidated Balance Sheets(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsMerchandise and finished goods
Work in process
Raw materials and supplies
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
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assetsOther
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of March 31, 2023

51,71050,85523,613

26,201

23,00028,541
65
7,566
(37)
134,461

39,08641,142
46
16,016(60)
173,28837,040(27,459)
9,581
23,463(20,584)
2,878
7,142
469
(244)
224
842
7,084
(6,607)477
21,14636,484(27,266)
9,217
24,248(21,177)
3,071
6,643783(425)
357
448
7,190
(6,651)
538
20,277

843
843

821
821

8,686
5
565
2,718
(1,436)
10,53832,528
166,989

8,214
4
1,497
1,505(508)
10,712
31,812
205,100

(Millions of yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Income taxes payable
Accrued expenses
Provision for bonuses
Provision for product warranties
Contract liabilities
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Long-term accounts payable - otherDeferred tax liabilities
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Asset retirement obligations
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-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

As of March 31, 2023

23,72910,917
465
2,248
1,894
618
28,887
2,003
70,76636,54414,011
521
2,468
1,904
1,033
48,755
1,761
107,001

3,300
5
440

5
0

63

48

8,354
384
158
12,707
83,474

8,392
361
172
8,981
115,982

12,484
11,53868,374(16,322)76,075

12,484
11,53864,594(7,889)80,727

4,350

4,065

3,348
(259)
7,440
83,515
166,989

4,478
(152)
8,390
89,118205,100

Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of yen)
For the fiscal year
ended March 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Sales commission
Packing and transportation costs
Provision for product warranties
Employees' salaries and allowances
Retirement benefit expenses
Depreciation
Rent expenses
Travel and transportation expenses
Research and development expenses
Outsourcing expenses
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rental income
Subsidies for employment adjustment
Foreign exchange gains
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Outsourcing expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Impairment losses
Loss on disposal of non-current assets
Loss on sale of investment securities
Loss on valuation of investment securities
Loss on valuation of shares of subsidiaries andassociates
Loss on valuation of investments in capital ofsubsidiaries and associates
Total extraordinary losses

For the fiscal year
ended March 31, 2023

107,777
75,26232,515

123,197
84,38738,809

1,697
4,067
501
11,649
593
788
1,003
671
1,799
498
5,008
28,278
4,236

2,375
5,436
889
12,723
584
973
1,044
978
2,022
631
5,384
33,043
5,765

79
266
48
289
363
311
1,358

145
307
48
262
764

117
118
814
1,050
4,544

219
469
91
470
1,250
5,279

15
25
41

1,334
157
1,492

40
136
3
17

19
14
5

307

--

251

505

291

(Millions of yen)
For the fiscal year
ended March 31, 2022
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

4,079
847(493)
353
3,725
3,725

For the fiscal year
ended March 31, 2023
6,480
1,258(1,219)
39
6,441
6,441

Consolidated Statements of Comprehensive Income(Millions of yen)
For the fiscal year
ended March 31, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
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 ofparent
Comprehensive income attributable to non-controllinginterests

For the fiscal year
ended March 31, 2023

3,725

6,441

601
1,611
273
2,486
6,212(285)
1,129
106
950
7,392

6,212

7,392

--

Consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2022
(Millions of yen)
Shareholders' equity

Balance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasury
sharesCancellation oftreasury shares
Restricted stock
optionNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Share capital

Capital surplus

12,484

11,538Retainedearnings

Treasury shares

Total
shareholders'equity(16,346)

77,19869,522(3,059)12,484

11,53866,462(3,059)(16,346)

74,138(1,811)(1,811)

3,725

3,725
(0)

(0)
-

(2)

24

22-

-

1,912

24

1,936

12,484

11,53868,374(16,322)76,075

Accumulated other comprehensive income
TotalValuation
Foreign currency Remeasurements accumulated Total net assets
difference ontranslationof defined
otheravailable-for-saleadjustment
benefit plans comprehensive
securities
incomeBalance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasury
sharesCancellation oftreasury shares
Restricted stock
optionNet changes initems other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

3,749

1,737(533)

4,953

82,152(3,059)

3,749

1,737(533)

4,953

79,092(1,811)
3,725(0)
22601

1,611

273

2,486

2,486

601

1,611

273

2,486

4,423

4,350

3,348(259)7,440

83,515

For the fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity

Balance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesCancellation oftreasury sharesRestricted stock
optionNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Share capital

Capital surplus

12,484

11,538Retainedearnings

Treasury shares

Total
shareholders'equity(16,322)76,07568,374

12,484

11,53868,374(16,322)76,075(1,811)(1,811)

6,441

6,441
(0)

(0)

(8,409)

8,409

-

(0)

23

22-

-

(3,780)

8,432

4,651

12,484

11,53864,594(7,889)80,727

Accumulated other comprehensive income
Total
Valuation
Foreign currency Remeasurements accumulated Total net assets
difference ontranslationof defined
otheravailable-for-saleadjustment
benefit plans comprehensive
securities
incomeBalance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during
periodDividends ofsurplus
Profit attributable toowners of parent
Purchase of treasury
sharesCancellation oftreasury shares
Restricted stock
optionNet changes initems other thanshareholders' equity
Total changes
during period
Balance at end of
period

4,350

3,348

(259)

7,440

83,515-

4,350

3,348

(259)

7,440

83,515(1,811)6,441(0)22(285)

1,129

106

950

950(285)

1,129

106

950

5,602

4,065

4,478(152)8,390

89,118

Consolidated Statements of Cash Flows(Millions of yen)
For the fiscal year
ended March 31, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Loss on valuation of shares of subsidiaries andassociates
Loss on valuation of investments in capital ofsubsidiaries and associates
Loss (gain) on sale and retirement of property, plantand equipment and intangible assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in contract liabilities
Increase (decrease) in accrued expenses
Increase (decrease) in deposits received
Increase (decrease) in accounts payable - other
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes refund (paid)
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Proceeds from sale of investment securities
Decrease (increase) in short-term loans receivable
Proceeds from collection of long-term loans receivable
Other, net
Net cash provided by (used in) investing activities

For the fiscal year
ended March 31, 2023

4,079
1,952
40
125
798
27

6,480
2,167
19(905)
9414

5(15)

110(346)
117(22)17

144(453)
219
(157)
5

307

--

251

120

(1,320)(1,815)(8,537)
6,555
10,275262(43)207(3,048)
11,190
346
(88)
(149)
11,299(2,588)(28,667)
12,941
19,813225
55
114(6,725)
2,030
398
(170)
(1,323)934(1,252)86(353)209
1142(1,264)(2,283)
1,944(367)169
51(33)(563)

(Millions of yen)
For the fiscal year
ended March 31, 2022
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
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
Cash and cash equivalents at end of period

For the fiscal year
ended March 31, 2023

327(500)(0)(1,811)(123)(2,108)

291
(500)
(0)
(1,811)(256)(2,277)

1,365

1,050

9,292
42,41751,710(855)
51,71050,855