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 Fiscal Year Ended December 31, 2023[Japanese GAAP]
February 14, 2024
Company name:
SAKATA INX CORPORATION
Stock exchange listing: Tokyo
Code number:
4633
URL:
https://www.inx.co.jp/english/
Representative:
Yoshiaki Ueno
Representative Director, President & CEO
Contact:
Daisuke Sugahara
General Manager, Finance & Accounting Div.
Phone:+81-6-6447-5823
Scheduled date of Annual General Meeting of Shareholders:March 27, 2024
Scheduled date of commencing dividend payments:
March 28, 2024
Scheduled date of filing annual securities report:
March 27, 2024
Availability of supplementary briefing material on annual financial results:
Yes
Schedule of annual financial results briefing session:
Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2023 (January 1, 2023 to December 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
December 31, 2023
December 31, 2022

Operating income

Net income attributableto owners of parent

Ordinary income

Million yen%

Million yen%

Million yen%

Million yen%

228,311215,5315.9
18.8

11,3984,125

176.3(44.4)

13,6344,961

174.8(41.7)

7,466
4,555

63.9
(7.7)

(Note) Comprehensive income:Fiscal year ended December 31, 2023:
Fiscal year ended December 31, 2022:¥¥

14,487million
10,783million[[

34.3%](15.9)%]

Basic earnings
per share

Diluted earnings
per share

Yen

Yen

%

%

%

149.22
85.52

-

8.1
5.3

7.3
2.9

5.0
1.9

Fiscal year ended
December 31, 2023
December 31, 2022

(Note) Equity in earnings of affiliates:

Rate of return on Ordinary income to Operating income
equitytotal assets ratio to net sales ratio

Fiscal year ended December 31, 2023:
Fiscal year ended December 31, 2022:¥¥

1,750million
997million(2) Consolidated Financial Position
Total assets
As ofDecember 31, 2023
December 31, 2022

Net assets

Equity ratio

Net assets per share

Million yen

Million yen%

Yen

194,087
177,403

105,651
92,95250.9
48.6

1,974.19
1,724.45(Note) Equity: As of December 31, 2023:
As of December 31, 2022:¥¥

98,797million
86,272million(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
December 31, 2023
December 31, 2022

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Million yen

Million yen

Million yen

Million yen

15,372
4,945(7,590)(1,666)(4,299)(3,897)

16,218
11,721

2. Dividends
1stquarterend
Fiscal year ended
December 31, 2022
December 31, 2023
Fiscal year ending
December 31, 2024(Forecast)

Annual dividends
2nd
3rd
quarter- quarter- Year-end
end
end

Total

Yen

Yen

Yen

Yen

-

15.00
15.00

-

15.00
20.00

30.00
35.00

-

20.00

-

20.00

40.00

PayoutTotal
ratio
dividends (consolidated)

Yen Million yen

1,500
1,751

Dividends
to netassets(consolidated)

%

%

35.1
23.5

1.9
1.9

24.5

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2024 (January 1, 2024 to December
31, 2024)(% indicates changes from the previous corresponding period.)
OperatingincomeNet sales
Million yen

Six months ended June 30, 2024 117,000
Full year
239,000% Million yen

6.2
4.7

4,900
11,000Net income
Basic earnings
attributable toper shareowners of parent

Ordinary
income% Million yen

(2.9)
(3.5)

%

Million yen%

Yen

5,600 (12.9)
12,300 (9.8)

3,600
8,200

(5.6)
9.8

71.84
163.51* Notes:(1) Changes in significant subsidiaries during the period under review(changes in specified subsidiaries resulting in changes in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards:
2) Changes in accounting policies other than 1) above:3) Changes in accounting estimates:
4) Retrospective restatement:

No
No
Yes
No

(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2023:
54,172,361shares
December 31, 2022:
54,172,361shares2) Total number of treasury shares at the end of the period:
December 31, 2023:
4,127,549shares
December 31, 2022:
4,143,541shares
3) Average number of shares during the period:
Fiscal Year ended December 31, 2023:
Fiscal Year ended December 31, 2022:

50,039,895shares
53,264,337shares

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

Operating income

Ordinary income

Net income

Million yen%

Million yen%

Million yen%

Million yen%

68,097
66,142

3.0
0.3

649
534

21.5
(68.7)

3,372
3,239

4.1
(24.7)

2,266
3,846

(41.1)
13.7

Basic earnings
per share
Fiscal year ended
December 31, 2023
December 31, 2022

Diluted earnings
per share
Yen

Yen

45.29
72.21

-

(2) Non-consolidated Financial Position
Total assets
As ofDecember 31, 2023
December 31, 2022

Net assets

Equity ratio

Net assets per share

Million yen

Million yen%

Yen

97,19393,93953,42451,60755.0
54.9

1,067.52
1,031.56(Note) Equity: As of December 31, 2023:
As of December 31, 2022:¥¥

53,424million
51,607million*This consolidated financial results are not subject to audit procedures by Certified Public Accountants or audit firm.
*Explanation of appropriate use of financial forecasts and other special notes
The above financial forecasts are based on the current available information in the Company and certain reasonableassumption to the Company, and we don't commit to achieve these forecasting numbers. Actual results may differ fromthese forecasts by a variety of reasons.
*Supplementary information will be disclosed on TDnet on February 14, 2024 and will be uploaded on the Company's
website.

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

As of December 31,2023

12,12017,01353,862
13,16459,397
16,086

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

1,514

1,450

Raw materials and supplies
Other
Allowance for doubtful accounts

18,6692,394(575)

14,506
2,766(663)

Total current assets

101,150

110,557

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

19,85819,892

Machinery, equipment and vehicles, net
Land
Leased assets, net
Construction in progress
Other, net

10,391
9,816
231
3,814
4,273

10,684
9,817
256
2,223
4,201

Total property, plant and equipment

48,38547,075

Goodwill
Other

441
1,901

386
3,518

Total intangible assets

2,342

3,904

23,94232

30,11828

19

339

Deferred tax assets
Other
Allowance for doubtful accounts

843
1,696
(1,010)

1,208
1,735
(880)

Total investments and other assets

25,52432,549Intangible assets

Investments and other assets
Investment securities
Long-term loans receivable
Retirement benefit asset

Total non-current assets
Total assets- 1 -76,252

83,529177,403

194,087(Million yen)
As of December 31,2022

As of December 31,2023

Notes and accounts payable - trade
Electronically recorded obligations - operating

23,121
14,31625,57814,030

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

11,046
1,979
647

8,354
3,415
696

Accrued expenses
Income taxes payable

4,656
524

5,623
839

Liabilities
Current liabilities

Provision for bonuses

547

663

Other

2,303

2,607

Total current liabilities

59,143

61,811

Non-current liabilities
Bonds payable

1,000

1,000

Long-term loans payable

11,244

11,285

Lease obligations
Deferred tax liabilities

1,337
3,554

1,151
4,353

Retirement benefit liability
Asset retirement obligations
Other

4,869
74
3,226

5,040
76
3,717

Total non-current liabilities

25,307

26,62484,45088,435

Capital stock
Capital surplus

7,472
5,672

7,472
5,673

Retained earnings

71,72977,740Treasury shares(4,015)(3,999)Total shareholders' equity

80,85986,886

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

1,111
(0)

2,151
2

Foreign currency translation adjustment

5,010

10,169Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income

Remeasurements of defined benefit plans

(709)

(411)

Total accumulated other comprehensive income

5,412

11,911

Non-controlling interests

6,680

6,853

Total net assets

92,952

105,651

177,403

194,087

Total liabilities and net assets- 2 -Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Million yen)
For the fiscal year
ended December 31,2022

For the fiscal year
ended December 31,2023

Net sales

215,531228,311

Cost of sales

176,312

177,985

Gross profit

39,21850,326

Selling, general and administrative expenses

35,09338,928Operating income

4,125

11,398Interest income

65

207

Dividend income
Foreign exchange gains
Real estate rent

235
180

137
415
180

Equity in earnings of affiliates
Other

997
347

1,750
504

Total non-operating income

1,825

3,197

Interest expenses

531

767

Foreign exchange losses

250-

Commission expenses
Other

100
107

193

Non-operating income

Non-operating expenses

Total non-operating expenses
Ordinary income

990

960

4,961

13,634Extraordinary income
Gain on sales of investment securities

1,442

38

100

100

Gain on sale of businesses-

415

Total extraordinary income

1,542

553

-

54

218
-

2,742
280

Subsidy income

Extraordinary losses
Loss on sales of non-current assets
Loss on retirement of non-current assets
Impairment loss
Loss on valuation of shares of subsidiaries and associates
Total extraordinary losses

218

3,077

Income before income taxes

6,284

11,111

Income taxes - current
Income taxes - deferred

1,856
(508)

3,739
(141)

Total income taxes

1,348

3,597

Net income

4,935

7,513

Net income attributable to non-controlling interests
Net income attributable to owners of parent

- 3 -

380

46

4,555

7,466

Consolidated Statements of Comprehensive Income(Million yen)
For the fiscal year
ended December 31,2022

For the fiscal year
ended December 31,2023

Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

4,935

7,513

(953)
2

1,087
2

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

5,487
(473)

4,248
310

1,784

1,325

Total other comprehensive income
Comprehensive income

5,847

6,974

10,783

14,487

9,692

13,966

1,091

521

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests- 4 -Consolidated Statements of Changes in Net Assets
For the fiscal year ended December 31,2022(Million yen)
Shareholders' equity
CapitalsurplusCapital stock
Balance at beginning of current period

7,472

Retainedearnings

5,675

Total
shareholders'equityTreasuryshares

76,967(4,010)86,104

Changes of items during the period
Dividends of surplus(1,626)(1,626)

Net income attributable to owners of parent

4,555

4,555

Purchase of treasury shares(8,193)(8,193)

(0)

20

20

Cancellation of treasury shares(8,167)

8,167-

Transfer from retained earnings to capital surplus

8,165(8,165)-(2)(5,237)(4)(5,244)

7,472

5,672

71,729(4,015)80,859

Disposal of treasury shares-

Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities

Balance at beginning of current period

2,106

(2)

Foreigncurrencytranslation
adjustment(1,606)

Total
Remeasurements accumulatedof defined benefit
other
plans
comprehensive
income(222)

275

Noncontrollinginterests

Total net
assets

6,085

92,465

Changes of items during the period
Dividends of surplus(1,626)

Net income attributable to owners of parent

4,555

Purchase of treasury shares(8,193)

Disposal of treasury shares

20

Cancellation of treasury shares-

Transfer from retained earnings to capital-surplus
Net changes of items other than shareholders'equityTotal changes of items during period
Balance at end of current period

(994)

2

6,616

(487)

5,136

595

5,732

(994)

2

6,616

(487)

5,136

595

487

1,111

(0)

5,010

(709)

5,412

6,680

92,952- 5 -For the fiscal year ended December 31,2023(Million yen)
Shareholders' equity
CapitalsurplusCapital stock
Balance at beginning of current period

7,472

Retainedearnings

5,672

Total
shareholders'equityTreasuryshares71,729(4,015)80,859Changes of items during the period
Dividends of surplus(1,501)(1,501)

Net income attributable to owners of parent

7,466

7,466

Purchase of treasury shares
Disposal of treasury shares

0Change in scope of consolidation
Change of scope of consolidation in entities
accounted for using equity method

(0)

(0)

15

16

(2)

(2)

47

47

Net changes of items other than shareholders' equity
Total changes of items during period
Balance at end of current period

-

0

6,010

15

6,026

7,472

5,673

77,740(3,999)86,886

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities

Balance at beginning of current period

1,111

(0)

Foreigncurrencytranslation
adjustment

5,010

Total
Remeasurements accumulatedof defined benefit
other
plans
comprehensive
income

(709)

5,412

Noncontrollinginterests

Total net
assets

6,680

92,952

Changes of items during the period
Dividends of surplus(1,501)

Net income attributable to owners of parent

7,466

Purchase of treasury shares(0)

Disposal of treasury shares

16

Change in scope of consolidation(2)

Change of scope of consolidation in entities

47

accounted for using equity method
Net changes of items other than shareholders'equityTotal changes of items during period
Balance at end of current period

1,039

2

5,158

298

6,499

173

6,672

1,039

2

5,158

298

6,499

173

12,6982,151

2

10,169(411)

11,911

6,853

105,651- 6 -Consolidated Statements of Cash Flows(Million yen)
For the fiscal year
ended December 31,2022

For the fiscal year
ended December 31,2023

6,284
4,799
107

11,111
4,868
118

Increase (decrease) in allowance for doubtful accounts
Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability

(57)
784
(82)

(103)
(320)
181

Increase (decrease) in provision for bonuses
Loss (gain) on sales of non-current assets

(66)
-

111
54

Impairment loss
Loss on valuation of shares of subsidiaries and associates
Interest and dividend income

(301)

2,742
280
(345)

Interest expenses

531

767

(997)

(1,750)(1,442)(38)

Cash flows from operating activities
Income before income taxes
Depreciation and amortization
Amortization of goodwill

Equity in (earnings) losses of affiliates
Loss (gain) on sales of investment securities
Loss on retirement of non-current assets

218-

Subsidy income
Loss (gain) on sale of businesses

(100)
-

(100)
(415)

(860)

(3,404)(1,241)

3,027(1,175)

1,085

Decrease (increase) in notes and accounts receivable trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade
including electronically recorded obligations - operating
Other, net

345

126

Subtotal

6,747

17,997

Interest and dividend income received
Interest expenses paid
Proceeds from subsidy income
Income taxes paid

645
(550)
100
(1,997)

693
(758)
100
(2,659)Net cash provided by (used in) operating activities

4,945

15,372(4,817)(4,269)Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment

58

249

Purchase of intangible assets
Purchase of investment securities(1,643)(368)(1,744)(1,933)

Proceeds from sales of investment securities
Payments of loans receivable

4,628
(23)

46
(57)

Collection of loans receivable

77

65

Proceeds from sale of businesses
Other, net

423

415
(363)

(1,666)(7,590)Net cash provided by (used in) investing activities- 7 -(Million yen)

Cash flows from financing activities
Net increase (decrease) in short-term loans payable

For the fiscal year
ended December 31,2022

For the fiscal year
ended December 31,2023

4,763(3,305)

Proceeds from long-term loans payable

7,581

3,647

Repayments of long-term loans payable
Cash dividends paid

(5,668)(1,626)(2,541)(1,501)Dividends paid to non-controlling interests

(642)

(348)

Proceeds from share issuance to non-controllingshareholders

146-

Purchase of treasury shares
Other, net(8,193)
(256)

(0)
(250)

Net cash provided by (used in) financing activities(3,897)(4,299)

225

1,002

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 (decrease) in cash and cash equivalents resulting
from change of scope of consolidation
Cash and cash equivalents at end of period

- 8 -

(393)

4,485

12,115

11,721-

12

11,721

16,218