Year Ended December 31, 2023

Supplementary Materials
for Financial Results

February 9, 2024
EBARA JITSUGYO CO., LTD.

Table of Contents
1. Executive Summary
Executive Summary

2. FY2023 Financial Results Overview
FY2023 Results Highlights
FY2023 Performance
FY2023 Results Trends by Segment
FY2023 Results by Segment (Year-on-Year)
Trends in Net Sales, Gross Profit, Orders Received, andOrders Backlog

3. FY2024 Business Plan
FY2024 Business Plan
FY2024 Business Plan by Segment
Highlights of FY2024 Business Plan

4. Shareholder Returns

5. Progress of Medium-Term Management Plan [EJ2024]
Plan for Final Year of [EJ2024] and FY2024 Business Plan
Status of Net Sales and Operating Profit
Progress and Results of Initiatives in FY2023
Investment Strategy (2022－2024)

6. Topics
Development of new mercury-free ozone monitors
Our humic deodorizer “VOEF” has been designated as
Kawasaki Carbon Neutral Brand

7. Reference Materials
Corporate Philosophy / Management Concept
Our businessHistory
Business Overview by Segment
Results Trends (past 10 years)
Performance (annual)

Dividends
Treasury Shares© EBARA JITSUGYO CO., LTD.

2

Executive SummaryMarket Condition⚫ Demand for renewal and development of water infrastructure facilities, as well as for disaster prevention and mitigation, remains strong⚫ Private capital investment remains robust, reflecting demand for construction of new domestic bases in the manufacturing sector and urban
redevelopment⚫ The impacts of higher material and equipment prices and longer construction periods are diminishing⚫ Demand in the medical field decreased due to the relaxation of infectious disease controls by the government

Financial Highlights for FY2023⚫ Reached record high orders received (38.4 bn yen), net sales (36.2 bn yen), and operating profit (4.0 bn yen)
⚫ SG&A expenses, mainly in labor costs, increased

FY2024 Business Plan
⚫ Expect both net sales (38.0 bn yen) and operating profit (4.05 bn yen) to renew respective highs for the second consecutive year
⚫ Market conditions in both public and private sectors will likely continue to be strong⚫ Expect sales to increase on the back of a high orders backlog at the beginning of the period⚫ Plan to increase SG&A expenses due to rising labor and R&D costs, but expect operating profit to increase due to higher sales

Shareholder Returns⚫ Dividend of 85 yen per share is planned for FY2023, and 95 yen for FY2024 forecast (a per-share increase of 10 yen)
⚫ Continue to consider share buybacks as part of shareholder returns© EBARA JITSUGYO CO., LTD.

3

FY2023
Financial Results Overview© EBARA JITSUGYO CO., LTD.

FY2023 Results Highlights
Orders received, net sales, operating profit, and ordinary profit all reached new highs⚫ Demand for renewal and development of water infrastructure facilities, as well as for disaster prevention and mitigation,
remains strong
MarketCondition⚫ Private capital investment remains robust, reflecting demand for construction of new domestic bases in the manufacturingsector and urban redevelopment⚫ The impacts of higher material and equipment prices and longer construction periods are diminishing⚫ Demand in the medical field decreased due to the relaxation of infectious disease controls by the government* All comparisons are year-on-year

Net Sales

36.28 bn yen⚫ Increased in all segments

Orders Received⚫ High orders backlog at the beginning of theperiod contributed

38.45 bn yen（3.80 bn yen↑/ 11.0％↑）（6.05 bn yen↑/ 20.0％↑）

Gross Profit⚫ Gross profit also increased in line with anincrease in net sales

11.14 bn yen

4.02 bn yen（1.26 bn yen↑/ 46.0％↑）

31.42 bn yen⚫ In Manufacturing and Trading businesses,
there were slight decreases⚫ Orders backlog increased in line with anincrease in orders received（2.17 bn yen↑/ 7.4％↑）（1.86 bn yen↑/ 20.0％↑）

Operating Profit

Orders Backlog⚫ Orders received in the Engineering businessincreased sharply, as large-scale orders
were won mainly in major metropolitan areasin Japan⚫ Operating profit increased in line with anincrease in gross profit⚫ SG&A expenses, mainly in labor costs,
increased

Ordinary Profit

Profit4.16 bn yen

3.14 bn yen（1.23 bn yen↑/ 42.1％↑）（0.97 bn yen↑/ 44.8％↑）© EBARA JITSUGYO CO., LTD.

5

FY2023 Performance

FY2021(Unit: mn yen)

FY2022

Ratio (%)

FY2023

Ratio (%)

Year-on-Year

Ratio (%)

Change (%)

ChangeNet Sales

32,485100.0

30,229100.0

36,280100.0+ 20.0+ 6,051

Gross Profit

10,489

32.3

9,282

30.7

11,14230.7+ 20.0+ 1,860

SG&A Expenses

6,507

20.0

6,525

21.6

7,117

19.6

+ 9.1

+ 592

Operating Profit

3,982

12.3

2,756

9.1

4,025

11.1

+ 46.0+ 1,269

Ordinary Profit

4,110

12.7

2,929

9.7

4,164

11.5

+ 42.1+ 1,235

Profit

3,159

9.7

2,169

7.2

3,141

8.7

+ 44.8+ 972

Orders Received

35,014-34,643-38,452-+ 11.0+ 3,809

Orders Backlog

25,256-29,250-31,421-+ 7.4+ 2,171© EBARA JITSUGYO CO., LTD.

6

FY2023 Results Trends by Segment
Year-on-YearFY2021

FY2022

FY2023(Unit: mn yen)

Manufacturing(environmentrelated)

Engineering(water-treatmentrelated)

Trading (fluid
machinery-related)

Change (%)

ChangeOrders Received

7,240

7,626

7,255

△ 4.9

△ 371

Net Sales

8,563

6,288

7,654

＋ 21.7＋ 1,366

Gross Profit

3,803

2,580

3,260

＋ 26.4＋ 680

Orders Received

17,435

16,34920,835＋ 27.4＋ 4,486

Net Sales

14,683

14,40817,671＋ 22.6＋ 3,263

Gross Profit

4,403

4,234

5,201

＋ 22.8＋ 967

Orders Received

10,338

10,667

10,360

△ 2.9

△ 307

Net Sales

9,238

9,532

10,954＋ 14.9＋ 1,422

Gross Profit

2,281

2,467

2,680

＋ 8.6

＋ 213
© EBARA JITSUGYO CO., LTD.

7

FY2023 Results by Segment (Year-on-Year)
Manufacturing(environment-related)(Unit: mn yen)Orders Received-0.37 bn yen

7,626

7,255

（-4.9％）FY2022

FY2023

Orders Received
Field

Change factors

Measuring⚫ Decreased due to stagnant capital investment in the semiconductor
sector-226

Energy-saving/creating⚫ Orders for storage batteries declined, as the field failed to make up
for large orders received in the previous period-102

Deodorizing⚫ Increased thanks to stable demand for deodorizer replacements,
orders for bio-deodorizing were received+358⚫ Orders in fisheries plant equipment, especially land-based
aquaculture facilities, increased+100⚫ Demand for infectious diseases control equipment decreased-501

Water treatment
plantsMedicalNet Sales(Unit: mn yen)

ChangeNet Sales+1.36 bn yen

6,288

7,654

（+21.7％）
FY2023Gross Profit Margin

41.0%

2,580

Change+442

Energy-saving/creating⚫ High backlog of orders for storage batteries contributed+866

Deodorizing⚫ Sales associated with bio-desulfurization and bio-deodorizing
increased+151⚫ Sales in fisheries plant equipment, especially land-based
aquaculture facilities, increased+191⚫ Demand for infectious diseases control equipment decreased

-284

42.6%

3,260

Change factors⚫ Increased due to progress in product shipments resulting from
improved procurement of materials and equipment

Water treatment
plants+0.68 bn yen（+26.4％）

Field
Measuring

FY2022Gross Profit(Unit: mn yen)

MedicalGross profit

FY2022

FY2023⚫ Gross profit increased in line with an increase in net sales⚫ Gross profit margin increased due to higher sales in the measuring field© EBARA JITSUGYO CO., LTD.

8

FY2023 Results by Segment (Year-on-Year)
Engineering (water-treatment-related)(Unit: mn yen)Orders Received+4.48 bn yen

16,34920,835（+27.4％）FY2022

FY2023

Net Sales+3.26 bn yen

14,408

Trading (fluid machinery-related)⚫ Demand for renewal anddevelopment of water
infrastructure facilities, as well
as for disaster prevention andmitigation, remains strong（-2.9％）⚫ High orders backlog at the
beginning of the period
contributed to sales

Net Sales（+22.6％）FY2023Gross Profit Margin

29.4%

29.4%

+0.96 bn yen（+22.8％）+1.42 bn yen

10,667

10,360

FY2022

FY2023

9,532

10,954⚫ Declined in reaction toorders received in theprevious year ahead ofschedule, in anticipation of
longer delivery times⚫ High orders backlog at
the beginning of theperiod contributed tosales（+14.9％）FY2022Gross Profit-0.30 bn yen⚫ Large-scale orders were won
mainly in major metropolitan
areas in Japan

17,671(Unit: mn yen)Orders Received

4,234
FY20225,201
FY2023

FY2022⚫ Gross profit increased in linewith an increase in net sales⚫ Despite an increase inmaterial and equipment
prices, gross profit margin
was almost the same level asin the previous period due tocost-reduction efforts

Gross Profit

FY2023Gross Profit Margin

25.9%

24.5%

+0.21 bn yen（+8.6％）

2,467

2,680

FY2022

FY2023⚫ Profit margin decreased
due to large-scale lowmargin projects⚫ Price pass-through ofhigher costs progressed© EBARA JITSUGYO CO., LTD.

9

Trends in Net Sales, Gross Profit, Orders Received, and Orders Backlog
Manufacturing

TradingEngineering(Unit: mn yen)

Trend in Net Sales

28,431

30,25032,485
8,563

Trend in Orders Received

36,28030,229

7,654

6,288

5,296

7,456

12,544

13,155

14,683

14,408

10,590

9,639

9,238

9,532

FY2019FY2020

FY2021

FY202238,452
34,000 35,014 34,643

28,220

7,255
8,972

7,621

3,803

16,34910,954

10,818

9,278

10,338

10,667

10,360

FY2023

FY2019FY2020

FY2021

FY2022

FY2023

Trend in Orders Backlog

11,142

29,250 31,421

9,282
22,727
18,978

2,580

2,105

4,234

20,835

15,748

3,260

3,011

17,435

12,072

Trend in Gross Profit

9,010

7,626

5,328
17,671

10,489

7,240

5,201

3,355

3,752

4,403

2,159

2,246

2,281

2,467

2,680

FY2019FY2020

FY2021

FY2022

FY202325,256

4,511

4,112

3,221
4,544

3,028
16,76018,384

21,54911,41514,008

4,534

4,174

5,274

6,354

5,759

FY2019FY2020

FY2021

FY2022

FY2023© EBARA JITSUGYO CO., LTD.

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FY2024 Business Plan

© EBARA JITSUGYO CO., LTD.

FY2024 Business Plan
⚫ As the current market conditions in both public and private sectors remain strong, net sales are expected to increase on the back of
the highest-level orders backlog at the beginning of the period (up 2.1 bn yen from the previous period)⚫ Aim to improve gross profit margin with price pass-throughs and cost-reduction efforts to cope with higher material and equipment
prices due to price increases⚫ Plan to increase SG&A expenses in response to rising higher R&D costs stemming from active development investment and laborcosts due to prices trending upward
FY2022 Results(Unit: mn yen)

FY2023 Results

Ratio (%)

FY2024 Plan

Ratio (%)

Year-on-Year

Ratio (%)

Change (%)

ChangeNet Sales

30,229100.0

36,280100.0

38,000

100.0

+ 4.7

+ 1,720Gross Profit

9,282

30.7

11,14230.7

11,850

31.2

+ 6.4

+ 708

SG&A Expenses

6,525

21.6

7,117

19.6

7,800

20.5

+ 9.6

+ 683

Operating Profit

2,756

9.1

4,025

11.1

4,050

10.7

+ 0.6

+ 25

Ordinary Profit

2,929

9.7

4,164

11.5

4,200

11.1

+ 0.9

+ 36

Profit

2,169

7.2

3,141

8.7

3,150

8.3

+ 0.3

+9

Orders Received

34,643-38,452-38,500

-

+ 0.1

+ 48

Orders Backlog

29,250-31,421-

31,921

-

+1.6

+ 500
© EBARA JITSUGYO CO., LTD.

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FY2024 Business Plan by Segment
FY2024 Plan

Year-on-YearFY2023(Unit: mn yen)

Manufacturing(environmentrelated)

Engineering(water-treatmentrelated)

Trading (fluid
machinery-related)

Ratio (%)

Change (%)

ChangeOrders Received

7,255

7,500

-

＋3.4

＋245

Net Sales

7,654

7,500

100.0

-2.0

-154

Gross Profit

3,260

3,250

43.3

-0.3

-10

Orders Received

20,83520,000

-

-4.0

-835

Net Sales

17,671

19,500

100.0

＋10.4

＋1,829Gross Profit

5,201

5,900

30.3

＋13.4

＋699

Orders Received

10,36011,000

-

＋6.2

＋640

Net Sales

10,954

11,000

100.0

＋0.4

＋46

Gross Profit

2,680

2,700

24.5

＋0.7

＋20
© EBARA JITSUGYO CO., LTD.

13

Highlights of FY2024 Business Plan: Manufacturing (environment-related)
Advance niche strategies and expansion of business domains to be the core of growthMarketCondition⚫ Uncertainty over when demand for the semiconductor industry will recover⚫ Increase in demand for fisheries plant equipment, especially land-based aquaculture facilities⚫ Increase in demand for storage batteries in anticipation of a decarbonized society

Orders Received/Net Sales

Gross Profit⚫ Increase in the energy-saving/creating field amid an expansion of the storage battery market⚫ Increase in the water treatment plant field, especially land-based aquaculture facilities⚫ Decrease in the measuring field due to stagnant capital investment in the semiconductor industry⚫ Continued decrease in the medical field reflecting the diminished importance of infectious disease
control
Orders Received(Unit: mn yen)

Net Sales⚫ Gross profit margin is expected to rise due
to price pass-throughs and cost-reduction
efforts, but gross profit is expected to
decline in line with lower sales

8,972
7,240

Measuring

7,626

7,255

7,500

(Unit: mn yen)

Gross Profit

7,456

8,563

7,654

7,500

6,288

Energy-saving/creating
Deodorizing

3,011

3,803
2,580

Water treatment plants

3,260

3,250

MedicalFY2020

FY2021

FY2022

FY2023

FY2024Plan

FY2020

FY2021

FY2022

FY2023

FY2024Plan© EBARA JITSUGYO CO., LTD.

14

Highlights of FY2024 Business Plan: Engineering (water-treatment-related)
Develop business domains based on both the customer and product axes
MarketCondition⚫ Strong demand for renewal and development of water infrastructure facilities⚫ Continuing high demand for disaster prevention and mitigation as well
⚫ Expansion in size of projects mainly in metropolitan areas in Japan⚫ Longer procurement periods for electrical materials, such as cables

Orders Received

Net Sales

Gross Profit⚫ Demand for renewal and developmentof water infrastructure facilities, as well
as for disaster prevention andmitigation, remains strong⚫ Orders may see a decrease from theprevious period’s large-scale projects,
but the decline will likely be small⚫ High orders backlog at the beginning of
the period is going to be recorded assales⚫ Gross profit margin is expected to risedue to price pass-throughs and costreduction efforts

Orders Received(Unit: mn yen)

15,74817,435 16,349

Net Sales

20,835 20,000

17,671 19,500
13,1553,752

FY2020

FY2021

FY2022(Unit: mn yen)

Gross Profit

FY2023

FY2024Plan

FY202014,683 14,408

4,403

FY20214,234

FY20225,201

FY20235,900

FY2024Plan© EBARA JITSUGYO CO., LTD.

15

Highlights of FY2024 Business Plan: Trading (fluid machinery-related)
Steadily reinforce the revenue base that has been a foundation since the company’s establishment
MarketCondition⚫ Private capital investment remains robust, reflecting demand for construction of new domestic bases in the manufacturingsector and urban redevelopment⚫ The impact of material price increases is slowly being passed on to the demand side and is being factored into prices⚫ Nationwide difficulties in the procurement of cables and other electrical materials may affect the procurement schedule on
the customer side

Orders Received

Net Sales⚫ Demand for capital investment for
private-sector plants and urban
redevelopment remains strong⚫ Despite a decrease in the orders backlog
at the beginning of the period, sales
remain at the same level as in theprevious period due to an increase inordersOrders Received(Unit: mn yen)

9,278

10,338Gross Profit

10,667

10,36011,000

売上総利益率Net
Sales⚫ Gross profit margin is expected toremain at the same level as in theprevious period

Gross Profit

9,639

2,246

FY2020

FY2021

FY2022

FY2023

FY2024Plan

FY2020(Unit: mn yen)

9,238

2,281

FY2021

10,954

11,000

2,680

2,700

9,532

2,467

FY2022

FY2023

FY2024Plan© EBARA JITSUGYO CO., LTD.

16

Shareholder Returns© EBARA JITSUGYO CO., LTD.

Dividends
Basic Policy
Maintain stable and continuous profit

distribution with a target payout ratio of 35%

Forecast dividend of 95 yen per share for FY2024(to be increased by 10 yen)

Trends in Annual Dividends per ShareDividends

FY2022
ResultFY2023Plan

FY2024
Forecast

Annual85.0 yen85.0 yen95.0 yenInterim42.5 yen

42.5 yen

47.5 yen

Year-end

42.5 yen

42.5 yen

47.5 yen

48.0％

32.3%

36.0%

Payout ratio*FY2023 Year-end Dividend will be proposed to the Annual General Meeting of Shareholders to be held in March 2024

Dividend(yen)

PayoutRatio (%)

48.0%

35.2%
30.8%

29.3%
24.8%

24.9%

26.2%

29.8%

33.6%

32.3%

85

85

85

FY2021

FY2022

FY2023

36.0%
95

55
22.5

22.5

22.5

25

30

30

FY2014FY2015FY2016FY2017FY2018FY2019FY2020

FY2024

Forecast

270 mn yen

Acquisition of Treasury Shares

Total Payout Ratio

29.3％

24.8％

42.1％

570 mn yen 1,000 mn yen 320 mn yen
26.2％

53.9％

65.3％

63.1％

680 mn yen
53.8％© EBARA JITSUGYO CO., LTD.

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Treasury Shares
Basic Policy

As one way of returning profits to shareholders, flexibly implement share buybacks,
taking into account capital needs and stock price levels
Acquisition of Treasury Shares
1. Description of the resolution adopted by the Board of Directors in November 2022
Total acquisition cost

1,000 million yen (maximum)

Total number of shares to beacquired

500,000 shares (maximum)
Percentage of total number of shares issued (excluding treasury shares)
4.1%

Acquisition period

November 2022 to October 2023

2. Treasury shares acquired in FY2023 based on the above resolution
Total acquisition cost

680 million yen

Total number of shares acquired

253,200 shares© EBARA JITSUGYO CO., LTD.

19

Progress of Medium-Term Management Plan [EJ2024]© EBARA JITSUGYO CO., LTD.

Medium-Term Management Plan [EJ2024]

Plan for Final Year of [EJ2024] and FY2024 Business Plan
⚫ Expect net sales to come as planned for the final year of [EJ2024], while gross profit will likely exceed the plan (up 450
million yen)

⚫ Expect SG&A expenses, mainly in labor and R&D costs, to increase in line with rapidly rising prices (up 800 million yen)
⚫ Increased SG&A expenses are expected to push down operating profit to 4,050 million yen (down 350 million yen)

FY2022
ResultFY2023ResultPlan for FY2024
Final Year of [EJ2024]

FY2024 Business
Plan

Net Sales

30,22936,28038,00038,000-Gross Profit

9,282

11,142

11,40011,850

+450

30.7

30.7

30.0

31.2

-

SG&A Expenses

6,525

7,117

7,000

7,800

+800

Operating Profit

2,756

4,025

4,400

4,050

-350

Operating Profit Margin (%)

9.1

11.1

11.6

10.7

-

ROE (%)

11.6

15.9

13% or more

13% or more-

(Unit: mn yen)

Gross Profit Margin (%)

Changes© EBARA JITSUGYO CO., LTD.

21

Medium-Term Management Plan [EJ2024]

Status of Net Sales and Operating Profit
Results have exceeded the targets set in [EJ2024] up to FY2023.
In FY2024, the final year of the medium-term plan, operating profit is expected to be 4,050 million yen with a plan for a
substantial increase in SG&A expenses due to increases in labor, R&D, and other costs, reflecting price trends.
■ Net Sales

Medium-Term Management Plan [EJ2024]■ Gross Profit■ Operating Profit

36,280〇 Operating Profit Margin

29,29528,431

38,000(Unit: mn yen)

38,00032,48530,25012.3%

30,229
11.1%

10.6%

10.7%

9.1%

7.3%

7.1%

FY2018Gross Profit+450

Other Costs-100

FY2020

4,025

3,982

4,400

4,050

2,756

2,024
FY2019Labor Costs-600

R&D Costs
-100

7,621

3,214
2,139

11,400• Labor and other costs are expected toincrease due to rapid price increases andother factors• R&D costs are expected to increase amid theaccelerated development of products topreserve and improve the global environment

9,282

9,010
7,557

11,142

10,48911,850Change factors of operating profit

FY2021

FY20224,400
FY2023[EJ2024]

FY2024

Final Year Plan Business Plan

[EJ2024]
Final Year Plan

-350

4,050
FY2024
Business Plan

© EBARA JITSUGYO CO., LTD.

22

Medium-Term Management Plan [EJ2024]

Progress and Results of Initiatives in FY2023

Basic policy

Progress and results of initiatives⚫ Roll out new products contributing to disaster prevention and mitigation
・Manhole pump start-up support system in the event of a power failure

Creation of new
businesses/
Acceleration of new
product development⚫ Expand storage battery lineups⚫ Develop solutions contributing to decarbonization and reduction of environmental
burdens, and invest in related businesses

Expansion of businessdomains⚫ Respond to demand for disaster prevention and mitigation based on the government’s
Fundamental Plan for National Resilience⚫ Strengthen business bases in newly entered areas such as Hokkaido, Niigata, and Hiroshima⚫ Prepare for public-private partnerships, area expansion, and comprehensive responses

Establishment of stablerevenue base・Develop new mercury-free ozone monitors
・Invest in start-up firms associated with next-generation power semiconductors
・Obtain certification for products contributing to decarbonization (Kawasaki Carbon Neutral Brand 2023)⚫ Increase order accuracy through improvement in estimating techniques⚫ Respond to soaring prices of raw materials and delayed deliveries, among other issues© EBARA JITSUGYO CO., LTD.

23

Investment Strategy (2022－2024)[ Total figures of FY2022 to FY2023 ]R&D investment

2.5~3.0 bn yen[ 1.47 bn yen ]Expected R&D fields⚫ Product development in the energy saving and creating field⚫ Entry into sensor business based on ozone and optical measurement
technology⚫ Aquaculture system development supporting next-generation fisheriesbusiness⚫ Highly efficient water treatment system⚫ Product development toward a decarbonized society⚫ Water treatment systems utilizing AI and the cloud

Capital investment

Operating CF
generation

8.8 bn yen[ 6.3 bn yen ]Approx.

GrowthInvestment

2.5~4.5bn yen⚫ Productivity improvements through IT⚫ Improvements to the work environment (work style reform)⚫ Enhance and strengthen R&D facilities⚫ Invest in the maintenance of business infrastructure

1.5~2.0 bn yen
0.44 bn yen ][M&A, etc.
⚫ Capture of new products and technologies (including venture
investments, etc.)⚫ Expand business domains and areas of Engineering business⚫ Expand area of Trading business1.0~2.5 bn yen[

0.20 bn yen ]Acquisition of treasury shares[ 1.00 bn yen ]Shareholder
Returns

Dividends[ 2.14 bn yen ]© EBARA JITSUGYO CO., LTD.

24

Topics© EBARA JITSUGYO CO., LTD.

Topics
Development of new mercury-free ozone analyzers
We have developed new mercury-free ozone analyzers that use UV-LEDs as the light source, replacing conventional mercury lamps.

Our original technology of correcting luminescence characteristics enables high-precision measurements, which had been considered difficult with
UV-LED light sources.
The analyzers reduce environmental loads as they use no mercury, which is restricted by the Minamata Convention on Mercury and other regulations.
We are set to start receiving orders for the analyzers in April 2024.

Ozone Concentration Measurement System

Sample gas
containing ozone (O3)O3

Ozone has the property of absorbing UV rays.
The ozone concentration in sample gas canbe measured by passing UV rays through thegas and precisely measuring its absorbance.

Gas emissions

O3

O3 absorbs

UV-LEDunit

UV raysO3

Measuring
sensorHigh-Precision Ozone Analyzer EG-3100 Series

Sample cell

New ProductUV-ray lightsourceIn-Line Ozone Analyzer EG-690⚫ Uses a UV-LED light source and no mercury⚫ Uses a UV-LED light source and no mercury⚫ Realizes the same level of precision as that of low-pressure
mercury lamps with the Company’s original luminescencecorrection technology⚫ Realizes the same level of precision as that of low-pressure
mercury lamps with the Company’s original luminescencecorrection technology⚫ Offers lineups covering all gas measuring points in ozone
treatment in water-purification processes⚫ Can be installed in-line in ozone gas piping in semiconductor
manufacturing processes⚫ Its high-precision, high-resolution feature makes it applicablefor R&D as well

⚫ A small footprint suitable for equipment installation
EG-3100

New ProductEG-690© EBARA JITSUGYO CO., LTD.

26

Topics
Our humic deodorizer “VOEF” has been designated as Kawasaki Carbon Neutral
Brand as a product contributing to the reduction of CO2
Our humic deodorizer “VOEF (EPSR1)” was designated as Kawasaki Carbon Neutral Brand 2023 by the Kawasaki Carbon Neutral Brand
Promotion Council.
The Kawasaki Carbon Neutral Brand project is an initiative headed by Kawasaki City that calculates the CO2 emissions of products, technologies,
and services that were researched, developed, and manufactured in the city over the entire lifecycle, from raw material procurement to disposal andrecycling, and certifies the products that have been shown to reduce emissions compared to their conventional products.
“VOEF” received certification for reducing CO2 emissions by about 12% in the entire lifecycle compared to conventional activated carbons.

Humic Deodorizer VOEF (EPSR1)

Humic Deodorizer “VOEF”
VOEF is a deodorizer used in dry deodorizing equipment installed at seweragerelated and other facilities. Made of soil-derived humus and produced at room
temperature, this deodorizer has made it possible to reduce CO2 over the entire
product lifecycle, compared to activated carbons that require a substantial
amount of energy in manufacturing and reprocessing.
Also, its deodorizing effects are not easily reduced even in humid conditions,and its absorption function lasts for a long time.

Contains soil-derived
humus as a raw material

Mixed with other materials
and granulated

Humic Deodorizer
VOEF

Filled into deodorizing
equipment, etc. at
sewerage facilities© EBARA JITSUGYO CO., LTD.

27

Reference Materials© EBARA JITSUGYO CO., LTD.

Corporate Philosophy and Management Concept of EBARA JITSUGYO
Corporate Philosophy

Striving to provide a wholesome human environment
for mankind and society
Restoring the beauty of our global environment is a crucial issue
facing humankind in the 21st century.
Ebara Jitsugyo has a long track record as an expert inenvironmental protection technologies, even from before
environmental problems became a social concern. We arededicated to being a leader in the environmental sector, which
has unlimited growth potential.
Management Concept

Corporate value through profit growth = Increase shareholder value© EBARA JITSUGYO CO., LTD.

29

Our business
Manufacturing (environment-related)
The development, manufacture, and sales of environmentrelated products and facilities

21.1
%

30.2
%
Net Sales⚫ Highest-focus business with our own products⚫ Highly profitable, aiming for 50% in gross profit

Year ended
December 31, 2023

36,280 mn yen

The three businesssegments

48.7%

Engineering (water-treatment-related)
The design, construction, and maintenance of water
infrastructure facilities⚫ Steady demand for renewals and repairs, and steadydisaster-prevention needs⚫ Business domains are being explored and expanded

29.3
%

24.0
%
Gross profit

Trading (fluid machinery-related)
Sales of pumps, blowers, air conditioners etc., mostly
Ebara products, as an agent⚫ Focuses on sales of pumps, a major product, as well as
new products⚫ Caters to redevelopment projects
Note: “Ebara products” implies various products of Ebara Corporation (Ebara Group).
There is no capital relationship between Ebara Corporation (Ebara Group) and Ebara Jitsugyo.

Year ended
December 31, 2023

11,142 mn yen

46.7%© EBARA JITSUGYO CO., LTD.

30

History
Responding to social needs, wehave expanded our business,water and air

settingas our themes

1976
startedManufacturing (environment-related)
The development, manufacture, and sales ofenvironment-related products and facilities

We have developed our own products to address niche andspecialized customer issues

startedEngineering (water-treatment-related)
The design, construction, and maintenance ofwaterworks and sewerage

We started to do design, construct and maintenance work for waterworks
and sewerage to answer the diversifying needs relating to them2022: Transitioned to the Prime Marketof the Tokyo Stock Exchange
2004: Listed on the first sectionof the Tokyo Stock Exchange

1946
started

Trading (fluid machinery-related)
Sales of pumps, blowers, air conditioners
etc., mostly Ebara products, as an agent

We started this business to support the establishment of
infrastructure in Japan during its post-war recovery

2001: Listed on the second sectionof the Tokyo Stock Exchange

Image of sales changing

1956

1998: Registered with JASDAQ© EBARA JITSUGYO CO., LTD.

31

Business Overview by Segment: Manufacturing (environment-related)
Manufacturing
メーカー事業 (環境関連)(environment-related)
環境関連製品・設備のThe開発・製造・販売
development, manufacture, andsales of environment-related
products and facilities

Proportion of
consolidated net sales

Net SalesYear ended
December 31, 2023

Concept

Proportion of
consolidated gross profit

Year ended
December 31, 2023

3,260
mn yenSocial needs:

Needs for specialized
water and air products

21.1
%

7,654
mn yenGross Profit

Diverse customer attributes and products

29.3%

Supply niche andspecialized water and air
products to the market

Measuring

Highprecisionozone gasanalyzer

Ozone gas/water
analyzer for
semiconductors

Energy-saving/creatingHomebatteries

Energy-saving
blowers

Deodorizing

Humus
deodorizers

Bio
desulfurizationequipment

Water treatment
Plants

Efficientsandfiltrationequipment

Land-based
aquaculture
systems

Medical

Simplenegativepressureequipment

Indoor ozone
sanitizationequipment

We supply our original
and competitive productsthat are highly
profitable© EBARA JITSUGYO CO., LTD.

32

Business Overview by Segment: Manufacturing (environment-related)
Field

Measuring

Energy-saving/creating

Deodorizing

Business⚫ Manufacture and sales ofmeasuring equipment usedmainly for water treatment⚫ Manufacture and sales ofmeasuring equipment for
semiconductors

Medical⚫ Public facilities(advanced waterworks and seweragefacilities)⚫ Private sector plants(including semiconductors, LCD, and food)⚫ Development, design,
construction and sales of
ZEB/ZEH-related products⚫ Private companies(air conditioner manufacturers, officebuildings, etc.)⚫ Manufacture and sales of
blowers, especially energysaving blowers⚫ Private sector plants(including food, drinks, paper, andchemicals)⚫ Manufacture and sales of
deodorizers and deodorizing
equipment, especially industrial
deodorizers⚫ Public facilities(sewerage, and sewerage for agriculturalcommunities)⚫ Design, construction and sales ofbio-deodorizing anddesulfurization equipment

Water treatment
plantsMain customers⚫ Private sector plants (including for food anddrinks)

Product examples
Highprecisionozone gasanalyzer

Ozone gas/water
analyzer for
semiconductors

Home
batteries

Energy-saving
blowers

Humus
deodorizers

Bio
desulfurizationequipment

Efficient sandfiltrationequipment

Land-based
aquaculture
systems

Simplenegativepressureequipment

Indoor ozone
sanitizationequipment⚫ Shopping centers (grease and sludge
trapping systems)⚫ Design and construction ofindustrial waterworks andwastewater facilities⚫ Private sector plants(including food, drinks, paper, andchemicals)⚫ Engineering for aquacultures, fish
farms and waterscape facilities⚫ Public facilities (including fisheries
research institutes)⚫ Development and sales of
medical equipment including forpreventing infectious diseases
and for emergency disastermeasures⚫ Medical institutions, municipalities, central
government, and others⚫ Private sector companies, plants, etc.

⚫ Others© EBARA JITSUGYO CO., LTD.

33

Business Overview by Segment: Engineering (water-treatment-related)
Engineering (watertreatment-related)
The design, construction, andmaintenance of water infrastructure
facilities

Waterworks

We handle design, construction and maintenance work for all
equipment and devices to take in water from rivers, lakes andgroundwater, from various water treatment equipment through toequipment to supply water to homes and business sites.

Sewerage

We handle design, construction, and maintenance work for all
types of facilities, equipment and devices including for interim
pumping stations that collect contaminated water and send it tosewerage stations, various sewerage stations, and water treatment
stations that send clean, treated water back to rivers etc.

Rainwater draining
facilities

These facilities are rolled out nationwide to protect the lives ofpeople in areas prone to serious damages from river flooding due
to torrential rain from typhoons. We handle the design, construction,and maintenance of rainwater draining pumps and electricity
systems for target facilities.

Net SalesYear ended
December 31, 2023

17,671mn yen

Proportion of
consolidated net sales

48.7%

Gross Profit
Year ended
December 31, 2023

5,201
mn yen46.7 Proportion of% consolidated gross profit

Manhole pumpfacilities

These facilities are being used nationwide as a new armor forsmall-scale contaminated-water-transferring pumping stations,which are essential to spread the use of sewerage systems. The
facilities are compact, with a tank to collect contaminated water(manhole) set with an underwater pump and employed in places
with insufficient space for other facilities.

Cloud monitoring
systemE-Qias Cloud

We offer a system to remotely monitor waterworks and sewerage
stations.

© EBARA JITSUGYO CO., LTD.

34

Business Overview by Segment: Trading (fluid machinery-related)
We sell industrial machines such as pumps, blowers,
air conditioners, coolers and heaters, for buildings
including shopping centers and factories

Trading (fluid machineryrelated)
Sales of pumps, blowers, airconditioners etc., mostly Ebara
products, as an agent
Proportion of
consolidated net sales

30.2%

Net SalesYear ended
December 31, 2023

Pumps/ blowers/air
conditioning, cooling andheating/energy/other

Water-supply
pump units

Fire extinguishingpumps

10,954mn yen
Proportion of
consolidated gross profit

24.0
%

Fans

Gross Profit
Year ended
December 31, 2023

2,680
mn yenCrushers

The manufacture andinstallation of steel
scaffolding forconstruction sites andplant facility stands (steel
structures)© EBARA JITSUGYO CO., LTD.

35

Results Trends (past 10 years)
Trends in ROE and Equity Ratio

Trends in Net Sales and Operating Profit
Net Sales

Equity Ratio

Gross Profit
MarginOperating Profit
MarginOperating Profit

ROE(Unit: mn yen)

36,280

53.3%
49.1%

32,48529,93929,29526,994

27,771

30,25045.3%

30,22928,431

51.4%

32.3%

25.8%

50.2%

47.1%

38.4%

26,110
27.7%

54.9%

41.3%

26.8%

15.9%
14.8%
12.7%

4,025

3,982

24.0%

17.6%

30.7%

30.7%

29.8%
24.7%

53.6%

21.7%

11.6%

10.3% 10.8%

10.2%

FY2014FY2016

3,214

11.6%

11.0%

2,756
2,139
1,717

1,417 1,290
1,146
3.8%

FY20145.3%

4.6%

FY2015FY2016

2,024
10.6%

6.6%

7.3%

7.1%

FY2017FY2018FY2019FY2020

12.3%

11.1%
9.1%

FY2021

FY2022

FY2023

FY2015FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023© EBARA JITSUGYO CO., LTD.

36

Performance (annual)
FY2020(Unit: m n yen)

Gross profit

Net sales

Orders received

Measuring
Energy-saving/creating
Deodorizing
Water-treatment plants
MedicalManufacturing (environment-related)
Engineering (water-treatment-related)
Trading (fluid machinery-related)
Total
Measuring
Energy-saving/creating
Deodorizing
Water-treatment plants
MedicalManufacturing (environment-related)
Engineering (water-treatment-related)
Trading (fluid machinery-related)
Total
Manufacturing (environment-related)
Engineering (water-treatment-related)
Trading (fluid machinery-related)
Total
Selling, general and administrative expenses
Operating profit
Non-operating profit
Non-operating expenses
Ordinary profit
Extraordinary income
Extraordinary losses
Profit before income taxes
ProfitResult
1,519
642
987
2,094
3,729
8,972
15,7489,278
34,000
1,388
689
1,016
2,629
1,733
7,456
13,155
9,639
30,250
3,011
3,752
2,246
9,010
5,795
3,214
209
61
3,363
3
27
3,339
2,342

FY2021
YoY+25.3%+7.0%△17.0%△2.1%+1873.0%+68.4%+30.4%△14.2%+20.5%
+6.4%
△6.1%
△9.1%
+47.4%+386.8%+40.8%
+4.9%
△9.0%
+6.4%
+43.0%+11.8%+4.0%+18.2%+3.6%+58.8%+55.0%+53.9%+54.9%

Result
1,717
739
1,197
2,110
1,476
7,240
17,435
10,33835,014
1,514
590
1,023
2,033
3,402
8,563
14,683
9,238
32,485
3,803
4,403
2,281
10,489
6,507
3,982
230
102
4,110
338
57
4,392
3,159

FY2022
YoY+13.0%+15.1%+21.3%+0.8%△60.4%△19.3%+10.7%+11.4%+3.0%+9.1%△14.4%+0.7%△22.7%+96.3%+14.9%+11.6%△4.2%+7.4%+26.3%+17.4%+1.6%+16.4%+12.3%+23.9%+22.2%+31.5%+34.9%

Result
1,908
1,120
1,264
2,228
1,106
7,626
16,34910,66734,643
1,350
637
1,252
2,060
989
6,288
14,4089,532
30,229
2,580
4,234
2,467
9,282
6,525
2,756
241
68
2,929
140
21
3,048
2,169

FY2023
YoY+11.1%+51.6%+5.6%+5.6%△25.1%
+5.3%
△6.2%
+3.2%
△1.1%
△10.8%+8.0%+22.4%+1.3%△70.9%△26.6%
△1.9%
+3.2%
△6.9%
△32.2%△3.8%+8.1%△11.5%+0.3%△30.8%△28.7%△30.6%+31.3%

Result
1,682
1,018
1,622
2,328
605
7,255
20,835
10,36038,452
1,792
1,503
1,403
2,251
705
7,654
17,671
10,95436,280
3,260
5,201
2,680
11,142
7,117
4,025
241
103
4,164
201
0
4,365
3,141

FY2024
YoY△11.8%△9.1%+28.3%+4.5%△45.3%△4.9%+27.4%△2.9%+11.0%+32.7%+135.9%+12.1%+9.3%△28.7%+21.7%+22.6%+14.9%+20.0%+26.4%+22.8%+8.6%+20.0%+9.1%+46.0%+42.1%+43.2%+44.8%

Plan
1,600
1,600
1,400
2,400
500
7,500
20,00011,00038,500
1,700
1,700
1,200
2,400
500
7,500
19,50011,00038,000
3,250
5,900
2,700
11,850
7,800
4,050
200
50
4,200
200
4,400
3,150

YoY
△4.9%
+57.2%△13.7%+3.1%△17.4%
+3.4%
△4.0%
+6.2%
+0.1%
△5.1%
+13.1%△14.5%+6.6%△29.1%△2.0%+10.4%
+0.4%
+4.7%
△0.3%
+13.4%
+0.7%
+6.4%
+9.6%
+0.6%

+0.9%

+0.8%
+0.3%

© EBARA JITSUGYO CO., LTD.

37

This presentation contains descriptions about our future performance. These descriptions do not
warranty future performance and entail risks and uncertainties. Please note that future performancecan differ from the forecast values due to factors such as changes in the management environment.
The purpose of this presentation is only to provide information and not to solicit business deals.
This document is an excerpt translation of the original Japanese document and is only for reference
purposes. In the event of any discrepancy between this translated document and the original
Japanese document, the latter shall prevail.

Planning & Strategy Office

TEL 03-5565-2885