Consolidated Financial Results for the Six Months Ended September 30, 2023 (Japanese GAAP)
November 8, 2023
Company name:

Mitsuboshi Belting Ltd.

Stock exchange listing:TokyoSecurities code:

5192

URL:

https://www.mitsuboshi.com/

Representative:

Hiroshi Ikeda, President

Inquiries:

Yasushi Shiotsu, General Manager, Finance & Accounting Department
Phone: +81-78-685-5630

Scheduled date of filing quarterly securities report:

November 13, 2023

Scheduled date of commence dividend payments:

December 5, 2023
(Amounts less than one million yen are rounded down)

1. Consolidated Financial Results for the Six Months Ended June 30, 2023 (April 1, 2023 - September 30, 2023)(1) Consolidated operating results(Percentages indicate year-on-year changes)

Net sales
Six months ended

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

September 30, 2023

42,028

△ 1.3

4,137

△ 10.0

5,611

△ 2.1

3,593

△ 8.3

September 30, 2022

42,568

14.8

4,597

15.0

5,731

29.1

3,919

34.4

Note:

Comprehensive income

Six months ended September 30, 2023:¥10,830 million(59.7%)

Six months ended September 30, 2022:¥6,783 million(66.3%)

Basic earnings
per share
Six months ended

Diluted earnings
per share
Yen

Yen

September 30, 2023

126.69－September 30, 2022

137.92－(2) Consolidated financial position
Total assets

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen％

As of September 30, 2023

130,858

94,80472.4

As of March 31, 2023

121,682

87,601

72.0

Reference:

EquityAs of September 30, 2023:¥94,804 million

As of March 31, 2023:¥87,601 million

2. Dividends
Annual dividends per share
1st quarter end

2nd quarter end

Yen

Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024
Fiscal year ending
March 31, 2024(Forecast)

3rd quarter end

Yen－

120.00－125.00Fiscal year end

Yen

Total

Yen

Yen－

130.00250.00－125.00250.00３. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2024 (April 1, 2023 - March 31, 2024)(Percentages indicate year-on-year changes)

Net sales

Full year

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

84,500

1.9

9,100

0.8

9,300

△ 11.27,100

0.4

250.31

Quarterly Consolidated Financial Statements
1. Quarterly Consolidated Balance Sheet(Millions of yen)
As of March 31, 2023

As of September 30, 2023

AssetsCurrent assets
35,878Cash and deposits
Notes and accounts receivable - trade, andcontract assets
Merchandise and finished goods

35,307

17,395

17,668Work in process

2,513

2,756

Raw materials and supplies

4,3684,259

Other

1,188

1,212

Allowance for doubtful accounts△100△97

Total current assets

77,331

79,391

Buildings and structures, net

7,325

9,245

Machinery, equipment and vehicles, net

8,859

10,654Tools, furniture and fixtures, net

1,993

2,112

Land

3,978

3,999

Leased assets, net

1,503

1,845

Construction in progress

4,738

2,249

28,39930,106

Software601

499

Goodwill

130

117

16,657

17,714Non-current assets
Property, plant and equipment

Total property, plant and equipment
Intangible assets

Other5960

Total intangible assets

791676Investment securities

13,597

18,834

Other

1,571

1,857

△8△8

15,16020,682

Investments and other assets

Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

44,351

51,466

121,682

130,858(Millions of yen)
As of March 31, 2023

As of September 30, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade

9,889

9,063

Short-term borrowings

4,229

3,753

Income taxes payable

201

1,387

Provision for bonuses

974

1,142

477

502

Other

6,089

6,415

Total current liabilities

21,862

22,265Long-term borrowings

4,000

3,500

Retirement benefit liability
Provision for retirement benefits for directors(and other officers)
Other

1,948

2,111

6,254

8,160

Total non-current liabilities

12,21913,78834,081

36,053

8,150

8,150

Provision for product warranties

Non-current liabilities

Total liabilities

1616

Net assets
Shareholders' equity
Share capital
Capital surplus

2,143

2,179

Retained earnings

70,81870,725

Treasury shares△7,559△7,537

Total shareholders' equity

73,55273,518

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment

8,310
5,785

9,398

Remeasurements of defined benefit plans△48△56

Total accumulated other comprehensive
income14,048

Total net assets
Total liabilities and net assets

11,943

21,28587,601

94,804

121,682

130,858

2. Quarterly Consolidated Statement of Income and Comprehensive Income
Quarterly Consolidated Statement of Income(Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

Net sales

42,56842,028

Cost of sales29,001

29,215Gross profit

13,566

12,813

Selling, general and administrative expenses

8,968

8,675

Operating profit

4,597

4,137

Interest income

79

225

Dividend income

223

251

1,052

945

157

147

1,513

1,569

Interest expenses

2132

Loss on retirement of non-current assets

243

38

Other

113

25

Non-operating income

Foreign exchange gains
Other
Total non-operating income
Non-operating expenses

379

95

Ordinary profit

5,731

5,611

Profit before income taxes

5,731

5,611

Income taxes

1,811

2,018

Profit

3,919

3,593

Profit attributable to owners of parent

3,919

3,593

Total non-operating expenses

Quarterly Consolidated Statement of Comprehensive Income(Millions of yen)Six months ended
September 30, 2022
ProfitOther comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net oftax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests

Six months ended
September 30, 2023

3,919

3,593△1,690

3,632

4,624

3,612

△71

△82,863

7,237

6,783

10,830

6,783

10,830－－