Consolidated Financial Results for the Nine Months Ended December 31, 2022 (Japanese GAAP)
February 8, 2023
Company name:

Mitsuboshi Belting Ltd.

Stock exchange listing:TokyoSecurities code:

5192

URL:

https://www.mitsuboshi.com/

Representative:

Hiroshi Ikeda, President

Inquiries:

Masatsugu Tsuji, Executive Officer, General Manager, Finance & Accounting Department
Phone: +81-78-685-5630

Scheduled date of filing quarterly securities report:

February 13, 2023

Scheduled date of commence dividend payments:－(Amounts less than one million yen are rounded down)

1. Consolidated Financial Results for the Nine Months Ended December 31, 2022 (April 1, 2022-December 31, 2022)(1) Consolidated operating results(Percentages indicate year-on-year changes)

Net sales
Nine months ended

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

63,827

14.6

7,280

21.3

8,026

20.3

5,609

18.3

55,674

17.6

6,001

72.2

6,673

67.7

4,743

73.4

December 31, 2022
December 31, 2021
Note:

Operating profit

Comprehensive income

Nine months ended December 31, 2022:¥5,720 million(△ 19.3%)

Nine months ended December 31, 2021:¥7,092 million(71.4%)

Basic earnings
per share
Nine months ended

Diluted earnings
per share
Yen

Yen

December 31, 2022

197.52－

December 31, 2021

163.39－(2) Consolidated financial position
Total assets

Equity-to-asset ratio

Net assets

Millions of yen

Millions of yen％

As of December 31, 2022

114,660

84,890

74.0

As of March 31, 2022

118,963

86,87773.0

Reference:

EquityAs of December 31, 2022:¥84,890 million

As of March 31, 2022:¥86,877 million

2. Dividends
Annual dividends per share
1st quarter end

2nd quarter end

Yen

Fiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023
Fiscal year ending
March 31, 2023(Forecast)

3rd quarter end

Yen

Fiscal year end

Yen

－

33.00

－－

120.00－TotalYen

Yen

110.00143.00120.00240.00３. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2023 (April 1, 2022-March 31, 2023)(Percentages indicate year-on-year changes)

Net sales

Full year

Operating profit

Basic earnings
per share

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

83,000

10.9

8,700

13.9

9,400

9.9

6,800

6.6

239.55

Quarterly Consolidated Financial Statements
1. Quarterly Consolidated Balance Sheet(Millions of yen)
As of March 31, 2022

As of December 31, 2022

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

34,70829,544

17,788

17,794

15,324

16,380Work in process

2,115

2,491

Raw materials and supplies

3,892

4,286

Other833

1,026

Allowance for doubtful accounts

△123

△145

Total current assets

74,54071,378

Buildings and structures, net

7,329

7,384

Machinery, equipment and vehicles, net

9,115

9,307

Tools, furniture and fixtures, net

2,054

1,915

Land

3,958

3,972

Leased assets, net

1,409

1,507

Construction in progress

2,804

3,883

Total property, plant and equipment

26,671

27,970891

713

Investment securities

15,17912,858

Other

1,698

1,758

Non-current assets
Property, plant and equipment

Intangible assets
Investments and other assets

Allowance for doubtful accounts△18△18

Total investments and other assets

16,86014,59844,42343,282

118,963

114,660

Total non-current assets
Total assets

(Millions of yen)
As of March 31, 2022

As of December 31, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade

9,898

10,155

Short-term borrowings

3,227

3,229

Income taxes payable

1,576

546

Provision for bonuses

928

195

Provision for product warranties

508

502

Other

6,075

6,293

Total current liabilities

22,21520,923

Non-current liabilities
Long-term borrowings

900

225

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

2,226

2,637

13

15

6,730

5,968

Total non-current liabilities

9,870

8,846

32,086

29,770Share capital

8,150

8,150

Capital surplus

2,119

2,143

Total liabilities
Net assets
Shareholders' equity

Retained earnings

70,31569,355

Treasury shares△6,395△7,559Total shareholders' equity

74,18872,090

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

9,368

7,793

3,344

5,084

Remeasurements of defined benefit plans△25△78

Total accumulated other comprehensive
income12,688

12,79986,87784,890118,963

114,660

Total net assets
Total liabilities and net assets

2. Quarterly Consolidated Statement of Income and Comprehensive Income
Quarterly Consolidated Statement of Income(Millions of yen)
Nine months ended
December 31, 2021

Nine months ended
December 31, 2022

Net sales

55,674

63,827

Cost of sales

37,68043,303Gross profit

17,994

20,523

Selling, general and administrative expenses

11,993

13,243Operating profit

6,001

7,280

Interest income

70167

Dividend income

362

394

Foreign exchange gains

278

345

Other

231

247

Total non-operating income

943

1,155

Interest expenses

3337

Loss on retirement of non-current assets

150

268

Other

86

104

Total non-operating expenses

270

409

6,673

8,026

151

－

Non-operating income

Non-operating expenses

Ordinary profit
Extraordinary income
Gain on sale of investment securities

151－

Profit before income taxes

Total extraordinary income

6,825

8,026

Income taxes

2,082

2,417

Profit

4,743

5,609

Profit attributable to owners of parent

4,743

5,609

Quarterly Consolidated Statement of Comprehensive Income(Millions of yen)
Nine months ended
December 31, 2021
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 ofparent
Comprehensive income attributable to noncontrolling interests

Nine months ended
December 31, 2022

4,743

5,609

1,452

△1,575805

1,740

91

△53

2,349

111

7,092

5,720

7,092

5,720－－