August 4, 2022
To Whom It May Concern
Name of Company: Arisawa Mfg. Co., Ltd.
Representative:
Representative Director and CEO: Yuta Arisawa(Code No.: 5208 Tokyo Stock Exchange, Prime)
Contact:
Director and Senior Operating Officer: Takeshi Masuda(TEL: 025-524-7101)

Notice of Adjustment of the Forecast of Business Results and the Forecast of Dividend

As the Company adjusted the forecast of consolidated business results for the second quarter (cumulative) andthe forecast of consolidated business results for the full-year for the year ending March 31, 2023, which was announced
on May 12, 2022, we hereby announce it as follows. In addition, we adjusted as follows the forecast of dividend pershare for the current quarter, and hereby announce it as follows.
1.

Adjustment of Forecast of Business Results(1)

Adjustment of forecasted figures of consolidated (cumulative) business results for the second quarter of thefiscal year ending March 31, 2023
(From April 1, 2022 to September 30, 2022)
Sales(million yen)

OperatingprofitOrdinary
profit(million yen)(million yen)

Net profit
attributable toowners of theparent(million yen)

Net profit per
share(yen)Previously announced forecast (A)23,400

1,600

2,000

1,300

39.02

This forecast adjustment (B)23,400

1,800

2,300

2,100

63.28

Increase or decrease (B-A)

0200

300

800

Increase or decrease ratio (%)

0.0

12.5

15.0

61.5

21,744

2,048

2,287

1,745

(Reference) Results of the 2nd quarter ofthe previous year
(Fiscal Year Ended March 31, 2022)

52.38

(2)

Adjustment of forecasted figures of consolidated business results for the full-year of the fiscal year ending
March 31, 2023
(From April 1, 2022 to March 31, 2023)
Sales(million yen)

Ordinary
profitOperatingprofit(million yen) (million yen)

Net profit
attributable toowners of the parent(million yen)

Net profit pershare(yen)Previously announced forecast (A)48,400

3,400

4,000

2,800

84.05

This forecast adjustment (B)48,400

3,400

4,000

3,400

102.45

Increase or decrease (B-A)

000600

Increase or decrease ratio (%)

0.0

0.0

0.0

21.4

43,089

3,320

4,204

3,911

(Reference) Results of the previous year
(Fiscal Year Ended March 31, 2022)(3)

117.40(Reason for Adjustment)
For the second quarter (cumulative), we expect an increase in revenue due to favorable sales of display
materials. In addition, net profit attributable to owners of the parent is expected to exceed the previous forecast
due to expected gains on the sale of investment securities.
In this regard, as for the forecast of business results for the full-year, the previously announced forecast forsales, operating profit, and ordinary profit remain unchanged due to uncertainties such as fluctuations in energy
costs, raw material prices, and exchange rate trends. In the future, if it becomes necessary to adjust our businessresults, we will promptly make an announcement.

(Note) The above forecast of business results are based on information which the Company has currently obtained
and certain assumptions determined to be reasonable by the Company, although actual results may vary significantly
depending on various factors in the future.

2.

Adjustment of Forecast of Dividend(1)

Details of Adjustment

Previous forecast(Announced as of May 12, 2022)
This forecast adjustment
Results of the current year
Results of the previous year
(fiscal year ended March 31, 2022)(2)Dividend per shareFirstQuarter

SecondQuarter

ThirdQuarter

---

---

---

End of Year

Total---

Yet to be
determined

Yet to be
determined

0.00 yen---

90.00 yen

90.00 yen

---

---

---

---

5.00 yen---

90.00 yen

95.00 yen

Reason for Adjustment
The Company invests the funds acquired during the period to maintain and expand its earnings base forexisting businesses and develop new applications, while actively returning these funds to our shareholders.
Our basic policy is to achieve a total return ratio of 80% or more. Regarding the forecast of year-end
dividend for the year ending March 31, 2023, which has not yet been announced, we determined a dividendof ¥90 per share (dividend payout ratio of 87.8%) by adding all profits on the sale of investment securities
to the dividend resource.