April 4, 2024

FY2024 First Quarter Consolidated Financial Results(December 1, 2023 - February 29, 2024)
Company nameShares listed
Code number
Location of the head office
Representative
Contact person: OSG Corporation: Tokyo and Nagoya Stock Exchanges: 6136: Aichi Prefecture: Nobuaki Osawa, President: Yosuke Sakashita, Accounting Manager
TEL: 81-533-82-1113 URL https://www.osg.co.jp/en/about_us/ir/(Amounts less than one million yen are omitted)

1. Consolidated Results for FY2024 First Quarter(December 1, 2023 - February 29, 2024)(1) Consolidated financial results(% indicates changes from the previous corresponding term)
Net income attributable
Net sales
Operating income
Ordinary income
to owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
36,717
7.3
4,102-9.1
4,949
1.4
3,429
12.4
FY2024 first-quarter
34,231
6.2
4,513
1.6
4,880
1.9
3,050
-11.8
FY2023 first-quarter(Note) Comprehensive income
FY2024 first-quarter: 5,389 million yen (116.3%)
FY2023 first-quarter: 2,491 million yen (-50.5%)
Net income per share

Diluted net incomeper shareYen
Yen
36.30
33.37
FY2024 first-quarter
31.86－FY2023 first-quarter(Note) The diluted net income per share for FY2023 first-quarter is not stated as there were no dilutive shares.

(2) Consolidated financial position

FY2024 first-quarter
FY2023(Reference) Equity

Total assets
Net assets
Equity ratio
Million yen
Million yen%
264,276
191,38267.5
250,124
194,64072.6
FY2024 first-quarter: 178,344 million yen
FY2023: 181,561 million yen

2. Dividends
Dividends per share
End of Q2Year-end

AnnualYenYenYen
28.00
32.00
60.00FY2023
28.00
32.00
60.00
FY2024 forecast(Note) Revision to the forecast for dividends announced most recently: None

3. Forecast of Consolidated Results for FY2024 (December 1, 2023 - November 30, 2024)(for semi-annual, % indicates changes from the previous corresponding term, for annual, changes from the previous term)
Net sales

Operating income

Ordinary income

Million yen% Million yen% Million yen
76,0007.6
10,500 10.6
10,600Semi-Annual
153,000
3.6
23,000 16.2
23,000
Annual(Note) Revision to the forecast of financial results announced most recently: None-1-%
4.3
7.7

Net income attributableto owners of parent
Million yen
7,200
15,500%
9.2
8.3

Net incomeper share
Yen
77.10
170.14

4. Others(1) Changes in significant subsidiaries during the current period(Changes in specified subsidiaries that caused a change in the scope of consolidation) : None
(2) Adoption of accounting method specific to the preparation of consolidated quarterly financial statements: Yes(3) Changes in accounting principles and accounting estimates and retrospective restatement
1) Changes in accounting principles due to amendment to accounting standards:
None2) Changes other than 1) above:None3) Changes in accounting estimates:
None4) Retrospective restatement:
None(4) Number of shares issued and outstanding (common stock)1) Total number of shares issued and outstanding at the end of each period (including treasury stock):
FY2024 first-quarter:
99,182,517 shares
FY2023:99,182,517 shares2) Total number of treasury stock at the end of each period:
FY2024 first-quarter:
5,963,944 shares
FY2023:
3,237,817 shares
3) Average number of shares outstanding in each period:
FY2024 first-quarter:
94,470,266 shares
FY2023 first-quarter:
95,720,420 shares※These quarterly consolidated financial results are outside the scope of quarterly review by certified public
accountants and audit corporations.
※Explanation for appropriate use of financial forecasts and other special notes
The above forecasts for financial results are based on information available at the time this report
was released. These forecasts and other forward-looking statements are not guarantees of futureperformance. Actual operating results may differ from the above forecasts due to known andunknown risks, uncertainties, and other factors.

-2-Consolidated Summary Balance SheetOSG Corporation(Millions of yen)
FY2023As of Nov. 30, 2023

FY2024 first-quarter
As of Feb. 29, 2024

AssetsCurrent assets
Cash and deposits

57,97063,243

Notes, accounts receivable-trade and contract assets
Securities

28,645
1

27,897－Merchandise and finished goods

38,52938,931Work in process
Raw materials and supplies

7,544
10,4207,544
10,171OtherAllowance for doubtful accounts

4,602
(197)

12,094(184)

147,517

159,698

Buildings and structures, net

24,16523,985

Machinery, equipment and vehicles, net
Land37,78016,343
6,415
84,70537,241
16,398
8,559
86,185Intangible assets
Goodwill

3,692

3,505

Other

1,760

1,798

Total intangible assets
Investments and other assets

5,453

5,303

Investment securities
OtherAllowance for doubtful accounts
Total investments and other assets
Total non-current assets

5,812
6,984
(347)

6,141
7,165
(346)

12,449102,607

12,961
104,450－－
250,124

127
127
264,276

Total current assets
Non-current assets
Property, plant and equipment

Other, net
Total property, plant and equipment

Deferred assets
Bond issuance cost
Total deferred assets
Total assets-3-Consolidated Summary Balance SheetOSG Corporation(Millions of yen)
FY2023As of Nov. 30, 2023

FY2024 first-quarter
As of Feb. 29, 2024

Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable

6,019

5,455

672

240

Current portion of long-term loans payable

1,638

943

Income taxes payable

1,733

2,265

Provision for bonuses

599

1,489

Provision for directors’ bonuses

332

107

Other13,557

9,209

Total current liabilities

24,552

19,710Bonds payable

10,00010,000Convertible bond-type bonds with share acquisition rights－16,365

22,213990

1,041

Non-current liabilities

Long-term loans payable
Net defined benefit liability

16,368

Other

3,575

3,560

Total non-current liabilities

30,93153,18355,48472,894

13,044

13,044

Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus

13,33013,322Retained earnings

140,361

140,662(5,845)(11,240)

160,891

155,788

Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities

1,326

1,551

Foreign currency translation adjustment

19,34221,004

Total accumulated other comprehensive income

20,66922,555

Non-controlling interests

13,07913,037

Total net assets

194,640

191,382

250,124264,276

Total liabilities and net assets-4-Consolidated Summary Statement of Income
OSG Corporation(Millions of yen)
FY2023 first-quarter(12/1/2022 - 2/28/2023)
34,231

FY2024 first-quarter(12/1/2023 - 2/29/2024)
36,717

Cost of sales
Gross profit20,093
14,137

21,92814,788Selling, general and administrative expenses
Operating income

9,623
4,513

10,685
4,102Interest income
Dividend income

145
21221
33

Foreign exchange gains
Other

28
318

254
476

Total non-operating income

514

986

Interest expenses

71

71

Other

76

67

147
4,880

138
4,949

－

150

159－

159

150

290

－

290

Net sales

Non-operating income

Non-operating expenses

Total non-operating expenses
Ordinary income
Extraordinary gains
Gain on sales of investment securities
Gain on sales of investments in capitalof subsidiaries and affiliatesTotal extraordinary gains
Extraordinary losses
Provision of allowance for doubtful accounts
Income before income taxes
Income taxes - current

4,750
1,612－
5,100
1,787

Income taxes - deferred
Total income taxes
Net income
Net income attributable to non-controlling interests
Net income attributable to owners of parent

(9)
1,603
3,147
96
3,050(304)
1,483
3,617
187
3,429

Total extraordinary losses-5-Consolidated Statement of Comprehensive Income
OSG Corporation(Millions of yen)

Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Share of other comprehensive income of associates
accounted for using equity method
Total other comprehensive income

FY2023 first-quarter(12/1/2022 - 2/28/2023)
3,147

FY2024 first-quarter(12/1/2023 - 2/29/2024)
3,617

99

220(0)
(756)

－
1,555

2(4)

(655)

1,771

Comprehensive income

2,491

5,389

(Breakdown)Comprehensive income attributable to owners of parent

2,542

5,308

(50)

80

Comprehensive income attributable to non-controlling interests-6-Operations by Geographical SegmentResults for FY2023 first-quarter (Dec. 1, 2022 through Feb. 28, 2023)(Millions of yen)JapanThe
Americas

Europe /Africa

Asia

Total

Eliminations Consolidated

Sales to customers

11,995

7,158

7,618

7,459

34,231－

Interarea transfers

5,903

131

49

995

7,079

(7,079)－Total sales

17,899

7,289

7,667

8,454

41,310(7,079)34,231

Operating income

2,073

1,100

718

950

4,843

(329)

4,513

34,231Results for FY2024 first-quarter (Dec. 1, 2023 through Feb. 29, 2024)(Millions of yen)JapanThe
Americas

Europe /AfricaAsia

TotalEliminations Consolidated

Sales to customers

11,375

8,441

8,825

8,074

36,717－

Interarea transfers

5,798

102

170

775

6,847

(6,847)－

Total sales

17,173

8,544

8,995

8,850

43,565(6,847)36,717

Operating income

1,523

942

782

1,057

4,306

(203)

4,102

Net Sales by Product Segment(Millions of yen)
Product Segment

Cutting tools

FY2023 first-quarter

FY2024 first-quarter(12/1/2022 - 2/28/2023)(12/1/2023 - 2/29/2024)

Taps

11,276

12,159End mills

6,685

7,038

Drills and other cutting tools

9,800

10,964Subtotal

27,76330,162

Rolling dies

2,551

2,793

Gauges457

459

Machine

1,320

1,161

Other

2,139

2,139

Subtotal

3,459

3,301

34,231

36,717

Other
Total

-7-36,717