Consolidated Financial Results
for the Three Months Ended March 31, 2023
[Japanese GAAP]May 15, 2023
Company name: ISEKI&CO., LTD.
Stock exchange listing: Tokyo
Code number: 6310
URL: https://www.iseki.co.jp
Representative: Shiro Tomiyasu,President and Representative Director
Contact: Yoshikazu Ogusu,General Manager of Financial Department
Phone: +81-3-5604-7671
Scheduled date of filing quarterly securities report: May 15, 2023
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended March 31, 2023 (January 01, 2023 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
Million yen%
Million yen%
Million yen%
Million yen%Three months ended
March 31, 2023
45,885
18.3
1,690
1,302
713
138.9
March 31, 2022
38,792(4.2)(230)
72(96.6)
298(84.5)(Note) Comprehensive income:Three months ended March 31, 2023:¥1,102 million [209.9%]
Three months ended March 31, 2022:¥355 million [(85.6) %]Basic earnings
per share
Three months ended
March 31, 2023
March 31, 2022

Diluted earnings pershare
Yen

Yen

31.56
13.21

31.55
13.20

(2) Consolidated Financial Position
Total assets
Million yen
As ofMarch 31, 2023
219,100
December 31, 2022
206,491(Reference) Equity: As of March 31, 2023:
As of December 31, 2022:

Net assets

Capital adequacy ratio

Million yen¥¥―1―72,759
72,34568,326 million
68,002 million

Net assets per share%

Yen

31.2
32.9

3,021.09
3,006.74

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended December 31, 2022

---

30.00

30.00

Fiscal year ending December 31, 2023

--

30.00

30.00

Fiscal year ending December 31, 2023
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-end

TotalNo

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2023(January 01, 2023 to December 31, 2023)(% indicates changes from the previous corresponding period.)
Net sales
Millionyen%

Operating profit

Ordinary profit

Millionyen

Millionyen%

Full year
176,500
5.9
4,500
27.3
4,000
(Note) Revision to the financial results forecast announced most recently:
No

Profit attributable toowners of parent

Basic earnings
per share%

Million yen%

Yen

6.3

2,600(36.9)

114.97* Notes:(1) Changes in significant subsidiaries during the three months ended March 31, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):(Company name:NewExclusion:(Company name:No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:))
No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) 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:
22,984,993 shares
December 31, 2022:
22,984,993 shares
2) Number of treasury shares at the end of the period:
March 31, 2023:
368,404 shares
December 31, 2022:
368,346 shares
3) Average number of shares outstanding during the period:
Three months ended March 31, 2023:
Three months ended March 31, 2022:

22,616,612 shares
22,612,772 shares* The total number of treasury shares at the end of the period includes the Company’s shares held by the “Board Benefit Trust” (255,800
shares for the three months ended March 31, 2023, 255,800 shares for the period ended December 31, 2022). In addition, the Company’s
shares held by the “Board Benefit Trust” are included in the number of treasury shares deducted for the calculation of the average numberof shares during the period.

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Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of December 31,2022

As of March 31,2023

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contractassets
Merchandise and finished goods
Work in process

10,7499,220

27,57438,03653,562
10,335

57,1549,790

Raw materials and supplies
Other

1,434
5,792

1,464
6,056

Allowance for doubtful accounts

(33)

(60)

109,414

121,664

26,271

25,973Land
Other, net

44,744
12,902

44,71913,156

Total property, plant and equipment

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net

83,91983,850Intangible assets

2,309

2,431

Investments and other assets
Investment securities

5,686

5,926

OtherAllowance for doubtful accounts

5,816
(654)

5,895(667)

Total investments and other assets

10,848

11,154

Total non-current assets
Total assets―3―

97,07697,435

206,491

219,100

(Million yen)
As of December 31,2022

As of March 31,2023

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating

19,45726,04221,50323,621

Short-term loans payable
Current portion of long-term loans payable

26,754
13,53733,91014,257

588
566

693
962

Other

11,241

11,170Total current liabilities

98,189106,119

Non-current liabilities
Long-term loans payable

Income taxes payable
Provision for bonuses

20,811

25,168Deferred tax liabilities for land revaluation
Provision for retirement benefits for directors

4,097
163

4,097
149

Provision for share awards for directors
Retirement benefit liability

18
3,244

24
3,248

Asset retirement obligations
Other

908
6,711

909
6,624

Total non-current liabilities

35,95640,221

134,146

146,340

Shareholders' equity
Share capital

23,344

23,344

Capital surplus
Retained earnings

13,13921,131

13,13921,158

Treasury shares

(591)

(591)

Total liabilities
Net assets

57,02357,051

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges

Total shareholders' equity

482

649

8(15)

Revaluation reserve for land
Foreign currency translation adjustment

8,835
1,142

8,835
1,328

Remeasurements of defined benefit plans
Total accumulated other comprehensive income

510

478

10,978

11,275

Subscription rights to shares

1212

Non-controlling interests

4,330

4,419

Total net assets
Total liabilities and net assets―4―

72,34572,759206,491

219,100

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Million yen)
For the three months
ended March 31,2022

For the three months
ended March 31,2023

Net sales
Cost of sales

38,792
27,98545,885
32,103Gross profit

10,807

13,782

Selling, general and administrative expenses

11,03812,091

Operating profit (loss)

(230)

1,690

Non-operating income
Interest income

3638

Dividend income
Foreign exchange gains

17285

25
138

Other271

206

Total non-operating income

611

408

Interest expenses
Share of loss of entities accounted for using equity
methodCommission for syndicated loans
Other

136

219

79

141

3159

386
50

Total non-operating expenses

307

797

72

1,302

Gain on sale of non-current assets
Other

1206-

Total extraordinary income

136

Non-operating expenses

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on sale and retirement of non-current assets

40

11

Impairment losses

37

63

Total extraordinary losses

77

74

Profit before income taxes

81,234

Income taxes - currentIncome taxes - deferred

259
(536)

729
(229)

Total income taxes

(277)

499

Profit285

734

Profit (loss) attributable to non-controlling interests

(13)

21

Profit attributable to owners of parent

298

713

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Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Million yen)
For the three months
ended March 31,2022
ProfitOther comprehensive income

For the three months
ended March 31,2023
285

734

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

(61)
(44)

167
(31)

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income

242
(61)

226(32)

(5)

3770

367

Comprehensive income

355

1,102

Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

363

1,010

(7)

91

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