Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

Summary of Results for the First Quarter of the Fiscal Year Ending March 2024
(Japanese Standards) (Consolidated Basis)
August 8, 2023
Name of listed company Takuma Co., Ltd.

Listed stock exchange

Listing code 6013
Representative

URL https://www.takuma.co.jp/english/
Hiroaki Nanjo

Contact for inquiries

President and Representative Director
Manager, Corporate Communications &Investor Relations DepartmentCorporate Planning & Administration
Division

Tokyo Stock Exchange

Hiroyuki Kobayashi

Planned quarterly report submission dateAugust 8, 2023

Planned dividend payment start date

None

Availability of supplementary quarterly results materials:

Yes

Quarterly results briefing:

None(E-mail)koho-ir@takuma.co.jp(All amounts rounded down to the nearest million yen)

1.

Consolidated results for Q1 FY2023 (April 1, 2023, to June 30, 2023)(Percentages indicate percent of change from thecorresponding quarter of the previous year.)(1) Consolidated results (cumulative)
Net sales

Operating profit

Millions of yen% Millions of yen

Ordinary profit% Millions of yen%

Q1 FY2023

29,821(3.6)

1,142(47.9)

1,538 (39.4)

Q1 FY2022

30,940

14.1

2,194

109.8

2,536(Note) Comprehensive income:Q1 FY2023
Q1 FY2022

Quarterly profit
attributable to ownersof parent
Millions of yen%936(45.9)

1,730

118.4

100.0

2,728 million yen (up 46.7 %)1,859 million yen (up 327.1 %)Basic earnings per share

Diluted earnings per share

YenYenQ1 FY2023

11.71―Q1 FY2022

21.56―(2) Consolidated financial position
Total assets
Q1 FY2023
Equity Q1 FY2023
FY2022

Capital adequacy ratio

Millions of yen
173,396

Millions of yen
101,930%
58.5

179,688

101,167

56.0

FY2022(Reference)

Net assets

101,372 million yen
100,599 million yen

2.

Dividend status
Annual dividend
Q1Q2

Q3

Q4

TotalYen

Yen

Yen

Yen

Yen

FY2022

―

19.00

―

24.00

43.00

FY2023

―
24.00

―

24.00

48.00

FY2023 (forecast)(Note) Revisions of the most recently announced dividend forecast: None3.

Consolidated earnings forecast for FY2023 (April 1, 2023, to March 31, 2024)(Percentages indicate percent of change from the previous year.)Net sales
FY2023Operating profit

Millions of yen%

146,000

2.3

Millions of yen

Ordinary profit% Millions of yen

11,300 (18.2)(Note) Revisions of the most recently announced earnings forecast: None

Profit attributable toowners of parent

Basic earnings
per share

8,300 (13.7)

103.81% Millions of yen

12,000 (18.3)%Yen

○ Attachments
1.
(1)
(2)
2.
(1)
(2)

Qualitative information related to the quarterly results under review ......................................................... 2Explanation of business results .................................................................................................................... 2Explanation concerning forward-looking statements such as consolidated earnings forecasts ................... 5
Quarterly Consolidated Financial Statements.............................................................................................. 6
Quarterly Consolidated Balance Sheet ........................................................................................................ 6
Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement ofComprehensive Income ............................................................................................................................... 83. Supplementary forecast materials ................................................................................................................ 10(1) Consolidated earnings forecast by segment ................................................................................................. 10(2) Consolidated capital investment, depreciation, and research and development expenses forecast ............. 104. Supplementary Materials ............................................................................................................................. 11
Domestic Environment and Energy Business Breakdown......................................................................... 11―1―1. Qualitative information related to the quarterly results under review
Forward-looking statements in the text reflect the judgment of management as of the last day of the quarterly
consolidated accounting period under review.

(1) Explanation of business results(Unit: Millions of yen)Segment

Q1 consolidated cumulative period of FY2023
OrdersreceivedNet sales

OperatingprofitBacklog

Change from the corresponding periodof FY 2022
Ordersreceived

Net sales

OperatingprofitDomestic Environment and Energy
Business

26,16624,025

1,555

449,787

1,873(1,594)(1,196)

Overseas Environment and Energy
Business

753

425

(31)

6,356

466

141

39

Package Boiler Business

6,028

3,550

25

8,418

638

195

92

Equipment and Systems Business

1,701

1,913

192

11,432(1,266)

141

47

Total

34,65029,915

1,742

475,995

1,712(1,115)(1,016)

(102)

(94)

(599)

(56)

(19)

(4)

(34)

34,54829,821

1,142

475,938

1,692(1,119)(1,051)

Adjustments
Total

During the Q1 consolidated cumulative period of FY2023, orders received totaled 34,548 million yen, up 1,692
million yen from the corresponding quarter of FY2022, due primarily to growth in the Domestic Environment andEnergy Business, while net sales fell 1,119 million yen to 29,821 million yen, due to a decrease in the Domestic
Environment and Energy Business.
Operating profit fell 1,051 million yen compared to the corresponding period of FY2022 to 1,142 million yen, while
ordinary profit fell 998 million yen to 1,538 million yen. Profit attributable to owners of parent fell 794 million yen
to 936 million yen. These results were due to a decrease in profits in the Domestic Environment and Energy Business.
A description of each segment’s results follows.

―2―

Domestic Environment and Energy Business
During the Q1 consolidated cumulative period of FY2023, orders received rose 1,873 million yen to 26,166 million
yen compared to the corresponding period of FY2022* as a result of factors including the orders received for the twonew biomass power plant construction projects and growth in after-sales service orders, including for waste treatment
plant operation management and maintenance.Net sales fell 1,594 million yen to 24,025 million yen due primarily tochanges in the project mix in the EPC business, an increased depreciation burden accompanying operations at thenew Harima Factory, and growth in operating expenses such as personnel expenses and R&D costs. Operating profit
fell 1,196 million yen to 1,555 million yen.
*Principal orders during the corresponding period of FY2022 included one waste treatment plant primary equipment
improvement project and two new biomass power plant construction projects.
＜Orders received and net sales (cumulative quarterly total)＞（Units：Billions of yen）

Orders received
Net sales
164.8

160.5
120.7

141.5

130.2
115.9

108.6

116.0

69.7
28.6 22.3

27.2
Q1

Q2
Q3
Q4
Cumulative Cumulative Cumulative

Q1

26.1 24.0

24.2 25.6

Q2
Q3
Q4
Cumulative Cumulative Cumulative

FY2020

Q1

Q2
Q3
Q4
Cumulative Cumulative Cumulative

FY2021Q1FY2022

Q4Forecast
FY2023＜Orders received and net sales (by quarter)＞（Units：Billions of yen）

Orders received
Net sales
78.0

69.7

65.1
48.8
33.8

32.3

24.7

28.6

27.2

31.7

28.2

33.6

22.3

9.2
25.7 27.7

Q1

Q2

Q3

Q4

Q1

Q2

FY2020

Q3

24.2

20.8

26.1

19.9

32.7

25.6

28.7

27.6

33.9

24.0

Q4

Q1

Q2

Q3

Q4

Q1

FY2021

FY2022―3―FY2023

Overseas Environment and Energy Business
During the Q1 consolidated cumulative period of FY2023, orders received totaled 753 million yen, up 466 million
yen from the corresponding period of FY2022 thanks to factors including growth in maintenance service offered byour overseas subsidiaries. At the same time, net sales rose, and the operating loss improved, slightly compared to thecorresponding period of FY2022 to 425 million yen and 31 million yen, respectively, as a result of factors including
growth in maintenance sales and progress in construction of previously ordered plants.
＜Orders received and net sales (cumulative quarterly total)＞（Units：Billions of yen）

Orders received
Net sales

5.9

3.0
2.0
0.8 1.1

0.2 0.2Q1

1.00.2 0.1

Q2Q3
Q4Cumulative Cumulative Cumulative

Q1

FY20201.30.2 0.2

Q2Q3
Q4Cumulative Cumulative Cumulative

Q1

FY2021Q2
Q3
Q4Cumulative Cumulative Cumulative

2.00.70.4
Q1

FY2022

Q4Forecast
FY2023

Package Boiler Business
During the Q1 consolidated cumulative period of FY2023, orders received rose 638 million yen from thecorresponding period of FY2022 to 6,028 million yen thanks to orders received for large projects. Net sales rose 195
million yen to 3,550 million yen, while operating profit totaled 25 million yen, improved from a 67 million yen
operating loss during the corresponding cumulative period of FY2022.
＜Orders received and net sales (cumulative quarterly total)＞（Units：Billions of yen）

Orders received
Net sales

17.5 16.9

Q1

Q2
Q3
Q4
Cumulative Cumulative Cumulative
FY2020

Q1

Q2
Q3
Q4
Cumulative Cumulative Cumulative

Q1

FY2021

3.5

Q2
Q3
Q4
Cumulative Cumulative Cumulative
FY2022―4―18.018.0

6.0

5.3
3.3

5.0
3.1

4.9
3.2

18.4
17.3

16.8 16.4

Q1

Q4
Forecast
FY2023Equipment and Systems Business
Orders received during the Q1 consolidated cumulative period of FY2023 fell 1,266 million yen from thecorresponding period of FY2022 to 1,701 million yen due primarily to a contraction of semiconductor industry
equipment. However, net sales rose 141 million yen to 1,913 million yen, while operating profit rose 47 million yen
to 192 million yen thanks to progress on previously ordered projects.
＜Orders received and net sales (cumulative quarterly total)＞（Units：Billions of yen）

Orders received
Net sales

14.3
10.1

8.2

2.6
1.6
Q1

FY2020

Q18.3

2.9
1.7

1.6 1.5
Q2
Q3
Q4Cumulative Cumulative Cumulative

10.5

8.9 8.5

Q2
Q3
Q4Cumulative Cumulative Cumulative

Q1

FY20218.0

1.71.9Q2
Q3
Q4Cumulative Cumulative Cumulative
FY2022Q1

Q4Forecast
FY2023

During the second quarter and beyond, we expect to book orders in our Domestic Environment and Energy Businessfor waste treatment plant construction and operation projects, as well as biomass power plants and other facilities,
and we continue to make steady progress on the construction of previously ordered plants. and we continue to work
to realize our fiscal-year targets of 170,000 million yen in orders received and 12,000 million yen in ordinary profit.

(2) Explanation concerning forward-looking statements such as consolidated earnings forecasts
The Group expects to see continued demand for its principal products, including replacements and service life
extensions for aging waste treatment plants, and construction of biomass power plants, against a backdrop offavorable energy policies. However, uncertainty about the future continues, including due to confusion from thesituation in Russia-Ukraine, rising prices for steel and other materials and equipment, and growing lead times.
With regard to the Group's FY2023 performance under these conditions, performance remained generally robust
during the Q1 consolidated cumulative period, and there has been no change in the consolidated full-year performanceoutlook announced on May 12, 2023.
The Group manages its results exclusively on an annual basis because our results tend to fluctuate seasonally, forexample Q4 net sales significantly exceed those of other quarters. The reason is that many projects are delivered justbefore the end of the consolidated fiscal year, so progress and transfers of facilities to customers tend to increase as
Q4 progresses.
• Earnings forecasts and other forward-looking statements in this document are based on information currently
available to the Company and on certain assumptions that are deemed to be reasonable. They do not constitute acommitment on the part of the Company to achieve any particular level of performance. Actual performance may
diverge significantly for a variety of reasons.

―5―2. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheet(Unit: Millions of yen)
Q4 FY2022(March 31, 2023)

Q1 FY2023(June 30, 2023)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

65,24260,851

76,22039,046Inventories
Other

6,011
2,159

9,128
3,720

Allowance for doubtful accounts

(15)

(15)

134,249

128,101

Property, plant and equipment
Intangible assets

18,436
540

18,568610

Investments and other assets
Investment securities

Total current assets
Non-current assets

18,28020,645

Other
Allowance for doubtful accounts

8,317
(135)

5,605
(135)

Total investments and other assets

26,462

26,115

Total non-current assets
Total assets―6―45,43945,295

179,688

173,396

(Unit: Millions of yen)
Q4 FY2022(March 31, 2023)

Q1 FY2023(June 30, 2023)

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

26,61014,74923,392
12,444

Short-term borrowings
Income taxes payable

220
3,362

220
471

Contract liabilities
Provision for bonuses

11,0593,789

12,954
1,618

215
625

159
582

Provision for product warranties
Provision for loss on construction contracts
Other

6,208

7,790

Total current liabilities

66,84059,634266
10,980227
11,175

Non-current liabilities
Provision for retirement benefits for directors (and other officers)
Retirement benefit liability
Other

433

428

11,68011,831

78,521

71,465

Share capital
Capital surplus

13,367
3,873

13,367
3,873

Retained earnings
Treasury shares

82,045(3,916)

81,063(3,916)

Total shareholders’ equity

95,37094,387

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

5,227
48

6,909
70

Foreign currency translation adjustment
Remeasurements of defined benefit plans

91(138)131(126)

Total accumulated other comprehensive income

5,229

6,984

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income

Non-controlling interests

567

557

Total net assets

101,167

101,930

Liabilities and net assets

179,688

173,396―7―

(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement ofComprehensive Income
Quarterly Consolidated Statement of Income
First quarterly consolidated cumulative accounting period (Q1)

(Unit: Millions of yen)

Q1 FY2022(April 1, 2022,to June 30, 2022)

Q1 FY2023(April 1, 2023,to June 30, 2023)

Net sales

30,94029,821

Cost of sales

24,58324,202Gross profit

6,357

5,618

Selling, general and administrative expenses

4,162

4,475

Operating profit

2,194

1,142

4322

5337

Non-operating income
Interest income
Dividend income
Other5986

Total non-operating income

386429Interest expenses
Share of loss of entities accounted for using equity method

019021

Commitment fees
Other71775

Non-operating expenses

Total non-operating expenses

4434

2,536

1,538

New factory construction expenses

51

159

Total extraordinary losses

51

159

Quarterly profit before income taxes

Ordinary profit
Extraordinary losses

2,485

1,378

Income taxes

748

419

Quarterly profit

1,736

958

522

1,730

936

Quarterly profit attributable to non-controlling interests
Quarterly profit attributable to owners of parent―8―

Quarterly Consolidated Statement of Comprehensive Income
First quarterly consolidated cumulative accounting period (Q1)

(Unit: Millions of yen)

Q1 FY2022(April 1, 2022,to June 30, 2022)
Quarterly profit
Other comprehensive income

Q1 FY2023(April 1, 2023,to June 30, 2023)
1,736

958

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

(2)
46

1,682
21

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

59
1854
11

Total other comprehensive income

122

1,769

1,859

2,728

1,838

2,691

2136

Quarterly comprehensive income
Comprehensive income attributable to
Quarterly comprehensive income attributable to owners of parent
Quarterly comprehensive income attributable to non-controllinginterests―9―

3. Supplementary forecast materials(1) Consolidated earnings forecast by segment(Unit: Millions of yen)
FY2023 (forecast)
Segment
Orders received

Net sales

Backlog

Domestic Environment and Energy Business

141,500

116,000

473,146

Overseas Environment and Energy Business

3,000

2,000

7,028

Package Boiler Business

18,00018,0005,940

Equipment and Systems Business

8,000

10,5009,144

170,500

146,500

495,260

(500)

(500)

(48)

170,000

146,000495,211

TotalAdjustments
Total(2) Consolidated capital investment, depreciation, and research and development expenses forecast(Unit: Millions of yen)
FY2022(actual)

FY2023(forecast)

ChangeCapital investment

7,100

3,600(3,500)

Depreciation

1,136

1,900

763

Research and development expenses

1,150

2,000

849

―10―

4. Supplementary Materials
Domestic Environment and Energy Business Breakdown(Unit: Billions of yen)
Q1 FY2023 (actual)

Orders received

Net sales

Backlog

0.1

6.6

120.8

16.1

7.5

241.5

Energy Plants

6.9

7.0

75.8

Water Treatment Plants, other

2.8

2.7

11.5

000

26.1

24.0

449.7

Municipal Solid Waste Plants (EPC)
Municipal Solid Waste Plants (after sales servicebusiness)

Adjustments
Total―11―