F I N A N C I A L

Consolidated Financial Results
FY2022, ended March 2023.
Securities Code:6245
The Standard Market of the TSE.Code No.6245
URL https://www.hirano-tec.co.jp/

R E P O R T

Company Profile
Company NameHIRANO TECSEED Co., Ltd.

Representative

Kaoru Okada, President

Paid-in Capital¥1,847,821,888 （as of end-March 2023)

Headquarters

101-1, Kawai, Kawai-cho, Kitakatsuragi-gun, Nara Pref. 636-0051, Japan

Group Companies(wholly-owned)• HIRANO GIKENKOGYO Co., Ltd.
• HIRANO K&E Co., Ltd.

Number of Employees300 (Consolidated：394, as of end-March 2023）

Securities CodeＣｏｎｓｏｌｉｄａｔｅｄ

6245 （Industry: Machinery）

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Overview of Consolidated Financial Results(Unit: ¥million)

Cumulative Results

FY2021
Apr 1, 2021Mar 31, 2022

FY2022
Apr 1, 2022Mar 31, 2023

Change (YoY)

Net Sales

37,86642,423+12.0％

Operating Income

3,986

3,093

△22.4％

Ordinary Income

4,122

3,219

△21.9％Net Income

3,103

2,243

△27.7％

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Overview of Consolidated Financial Results(Unit: ¥million)45,000
40,000

3,500

3,500

3,000

3,000

2,500

2,000

35,000
2,500

2,500

25,000

2,000

2,000

20,000

1,500

1,500

1,000

1,000

30,000

1,500

1,000

15,00010,000

500

5,000
0
Net sales

50050000

Operating
IncomeOrdinary income

Full-year Forecast

Progress rate(4Q)101.0%

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03Q

2Q

1Q

91.0%

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Net income

92.0%

ＦＹ２０２２86.3%

3

Asset Indicators(Unit: ¥million)

FY2021as of end-Mar 2022

FY2022as of end-Mar 2023

YoY change (%)

Current Assets

38,95348,158+23.6%

Fixed Assets

11,50812,363+7.4%

Current Liabilities

15,104

23,428+55.1%

Fixed Liabilities

8941096+22.7%Net Assets

34,46335,997+4.4%

Total Assets

50,461

60,522+19.9%

Equity Ratio (%)

68.3%

59.48%－Ｃｏｎｓｏｌｉｄａｔｅｄ

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Change in Net Sales (cumulative)(Unit: ¥million)
45,000

1Q-4Q
forecast

42,42340,00041,00037,86635,00030,22830,00027,56625,80025,00020,00016,664

18,27018,605

1Q-2Q
forecast
19,00015,00010,000
5,000

8,952

9,226

8,847

4,503

0FY2020

FY20211Q

1Q-2QFY2022
1Q-3Q

FY2023

1Q-4Q

We applied Accounting Standards for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020) from the beginning of theFY2021 consolidated accounting period. Figures for FY2021 are adjusted to reflect these standards.

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Change in Ordinary Income (cumulative)(Unit: ¥million)
4,500

4,122

4,000

1Q-4Q
forecast

3,285

3,500
3,000

2,661

3,219

3,000

2,789
2,421

2,500
2,000
1,314

1,500
1,000500

1,557
1,274

1Q-2Q
forecast
1,100

716

734

245

0FY2020FY2021
1Q

1Q-2Q

FY2022
1Q-3Q

FY2023

1Q-4Q

We applied Accounting Standards for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020) from the beginning of the
FY2021 consolidated accounting period. Figures for FY2021 are adjusted to reflect these standards.

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Net Income Per Share and Dividends Per Share(Unit: ¥)Net income per share
250
200

167.67118.63

150
100
50

1Q-4Q
forecast

206.0754.63
8.34

148.87132.04139.34111.17
71.59

59.25

49.76

33.58

31.32

0FY2020

FY2021
1Q

FY2022

1Q-2Q1Q-3Q

FY2023
1Q-4Q

We applied Accounting Standards for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020) from the beginning of theFY2021 consolidated accounting period. Figures for FY2021 are adjusted to reflect these standards.

Dividends per share◆The company’s basic policy for dividends is to maintain stable dividends based on the company’s earnings situation.

(Unit: ¥)FY

Interim dividend

Year-end dividend

Full-year dividend

FY2021282856FY2022282856FY2023 Forecast

282856

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ＦＹ２０２２7Change in Orders and the Order Backlog (by quarter)(Unit: ¥million)
Order backlog

Orders100,000

Order backlog
Orders90,00050,00093,482
84,62985,44879,90680,00068,83570,00040,00050,56536,54732,22329,62925,835

19,66327,922

15,00017,07910,8006,590

14,511

10,0003,105

10,474

3,681
5,096

20,00016,42534,273

6,790

10,000025,00041,71941,073 42,412
39,86330,00020,00030,00025,83850,000

5,759

7,902

7,471

FY2019 FY2019 FY2019 FY2019 FY2020 FY2020 FY2020 FY2020 FY2021 FY2021 FY2021 FY2021 FY2022 FY2022 FY2022 FY2022
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q

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40,00035,00028,56960,00045,000Ｒｅｓｕｌｔｓ

ＦＹ２０２２5,00008

Segment Data
Application

Segment

Optical films

Coating and Laminating
Machinery

Vacuum equipment

Industrial Machinery

Film making systems

Industrial Machinery

Electrics & Electronics

Coating and Laminating
Machinery

Adhesive materials

Coating and Laminating
Machinery

New materials/Composites

Industrial Machinery

Dyeing Machinery/Other parts

OthersLithium-ion batteries andothers

Coating and Laminating
Machinery

Display - relatedElectronic materials related

Household product related

Energy - related

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Coating and Laminating Machinery Segment(Unit: ¥million)
Net sales

33,000Orders

70,00030,00080,00070,00060,00027,00024,00060,00050,00021,00050,00040,00018,00040,00015,00030,00030,00012,00020,000

9,000
6,000
3,000
0
FY2020

FY2021

14,77724,06728,851

Domestic

708

2,465

15,48526,53320,00010,00010,00000

FY2022

Overseas

Total

Order backlog

FY2020

FY2021

FY2022

FY2020

FY2021

FY202255,457
3,009

45,4291,074

22,76350,80067,3782,327

23,859
2,518

3,409

2,787

1,533

31,17926,37858,46646,503

26,17253,58868,912

We applied Accounting Standards for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020) from the beginning of theFY2021 consolidated accounting period. Figures for FY2021 are adjusted to reflect these standards.

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Industrial Machinery Segment(Unit: ¥million)
Net sales

12,000Orders

18,00018,00010,00015,00015,0008,000

12,00012,000

6,000

9,000

9,000

4,000

6,000

6,000

2,000

3,000

3,000

000

FY2020

FY2021

FY2022

Overseas

4,746

7,300

6,410

Domestic

4,192

2,698

3,363

Total

8,938

9,998

9,774

FY202011,0293,665
14,694FY2021

FY2022

7,922
4,835
12,757

1,474
3,282
4,757

Order backlog

FY202010,522
5,211
15,734FY2021

9,640
5,128
14,768FY2022

4,703
5,047
9,750

We applied Accounting Standards for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020) from the beginning of theFY2021 consolidated accounting period. Figures for FY2021 are adjusted to reflect these standards.

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Net Sales by Application (quarterly)(Unit: ¥million)

14,00012,00010,000

8,000

6,000

4,000

2,0000
FY2021
1Q

FY2021
2Q

Display-related

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FY2021
3Q

FY2021
4Q

Electronic materials-related

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FY2022
1Q

FY2022
2Q

Household product-related

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FY2022
3Q

Energy-related

FY20224Q
other12

Net Sales by Application(Unit: ¥million)

Configuration ratio(Unit:％)

FY20221Q-4Q

FY2022
1Q-4Q
2022.4-2023.3

Apr 2022 - Mar 2023

Total net sales: 42,423

FY2021
1Q-4Q
2021.4-2022.3

FY2021
1Q-4Q

Total net sales: 37,866
020,000

Display-relatedElectronic materials-related

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Apr 2021 – Mar 2022

40,00060,000Household product-related

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Energy-related

ＦＹ２０２２other13Orders and Order Backlog by Application(Unit: ¥million)

OrdersOrder backlog

80,000100,000

70,00090,00080,00060,00070,00050,00060,00040,00050,00030,00040,00030,00020,00020,00010,00010,00000FY2021

FY2022

Display-related

End-1Q End-2Q End-3Q End-4Q End-1Q End-2Q End-3Q End-4Q
FY2021 FY2021 FY2021 FY2021 FY2022 FY2022 FY2022 FY2022

Electronic materials-related

Household product-related

Energy-relatedotherWe applied Accounting Standards for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020) from the beginning of theFY2021 consolidated accounting period. Figures for FY2021 are adjusted to reflect these standards.

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ＦＹ２０２２14Historical Change in Earnings ①(Unit: ¥million)
45,00030%Net sales

40,000Ordinary income

Ordinary income margin25%

35,00030,00020%

19.22 18.70 18.75

25,00015.65

20,000

12.84

12.79

12.52

15,000

11.09

9.79
7.90

10,000
5,000

14.38

5.84

11.91

10.32 10.89

10%
7.59

6.45

5%

4.45

3.44

15%

14.99

00%

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Historical Change in Earnings ②(Unit: ¥)250

Net income per share

Dividend per share (full-year)

Dividend payout ratio

80%
70%

200
60%
50%

150

40%
100

30%
20%

50
10%
0%

0

*FY2002 dividend payout ratio was 199.93% owing to an irregular dividend for loss at a subsidiary.

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Fields Under Intensive Development
Group’s overall concept：“Creating the future with human and technical resources”
Energy-related development is our key theme to contribute to solving global energy andenvironmental issues.
Lithium-ion battery electrodes
Fuel cells/Solar batteries
Ultra-thin ceramic sheets
Medical tapes
Conductive films

Cooperation between the development, design, and manufacturing departments in line with the Group’s overall concept of “Creating the futurewith human and technical resources”
Contributing to the creation of a sustainable society and reducing our environmental load through use of our competitive advantage incontinuous productivity for coating and film making systems. Our products are used in a wide variety of industries.
• Pursuit of technological development to create the future by accelerating, broadening, and refining production equipment to meet user needs.
• Striving for internal manufacturing of the core components of precision roll and slot die and accumulation of technological and production
know-how in order to differentiate our products and ensure stable supply.
• Working on the development of low-cost, mass-market equipment that is suitable for multiple film making, multiple pre-treatment sources,and high performance in areas such as double-sided films with a view to developing high-pressure press testing equipment and widening
application of continuous sputtering equipment.

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Batteries and Electronic Materials
Electronic materials

HV/EV

In coating-related systems, the growing use of lithium-ion batteries in EV is increasing needs for electrode coating equipment that offers greater speed and functionality.
• In addition to developing multi-layer simultaneous coating and double-sided simultaneous coating technologies, we have won high praise for our stable transport technology for
difficult-to-handle thinner metallic foils and our drying control technology that uses hot air and infrared light.
• In our various types of optical function film coating process equipment, which contribute to increasingly thinner and more flexible displays, we are working to make further
progress on stable transport technology for a wide variety of films and cleaner technologies using our expertise accumulated in high-precision coatings and electronic materials.
In chemical engineering-related systems, expansion in EV and automotive use of electronic devices that support driving safety increasingly require electronic materials with greater
functionality and higher degrees of integration.
• We lead the market in the continued technological development of high-precision thick films, drying control technology, and cleaner film processes necessary for the ceramic
sheet forming lines that can output everything from thin to thick coatings for multilayered ceramic capacitors.
• In the area of printed circuit boards, as well as improving high temperature, high pressure laminating technology, we contribute to the practical application of thin, highly-integrated
multilayer substrates that help reduce the footprint of electronic devices.
• We are engaged in development of equipment that can support next-generation materials, including development of technology for forming transparent polyimide films, formationof carbon fiber and other types of sheet, hot rolling equipment, high-temperature heat treatment equipment, and continuous sputtering equipment.

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IR Event Calendar

2023AprMayJunJulAug2024
SepOctNovDecJanFebMar●Full-year results●Convocation notice●Annual general shareholders’ meeting●Year-end dividend payment●1Q results●2Q results●Interim shareholders’ newsletter●Interim dividend payment●3Q results

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Disclaimer
Contact:
General Affairs Department
HIRANO TECSEED Co., Ltd .
https://www.hirano-tec.co.jp/en/contact/
Tel: +81-745-57-0681
This document provides information intended solely to help readers’ understanding of HIRANO TECSEED CO., LTD.
Thus, we have no intention to solicit or encourage investment for securities or financial products mentioned in this document. Also, readers are advisedthat this document is not a disclosure document or statement of financial performance as required by Japan’s Financial Instruments and Exchange Act, Act
on Investment Trusts and Investment Corporations, related cabinet orders, cabinet office ordinances or rules, the rules governing companies listed on theTokyo Stock Exchange, or any other applicable rules.
This document contains forward-looking statements, including forecasts of financial position, results of operations, and business-related matters, as well asstatements related to the plans and goals of the management of HIRANO TECSEED CO., LTD. There are a number of known and unknown risks anduncertainties that can cause its actual results or performance to differ materially from any explicit or implicit forecasts contained herein. These forwardlooking statements also rest on a number of assumptions with regard to our present and future management strategies, as well as the political andeconomical environments in which we will conduct its future business operations.
Although the information contained in this document is the best available at the time of publication, no assurances can be given regarding the accuracy,certainty, validity or fairness of this information and we are not responsible for any error or inaccuracy in the information or data contained herein.
The content of this document can be modified or withdrawn without prior notice.

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