Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

(Securities Code: 6339)
Date of sending by postal mail: June 5, 2023
Start date of electronic provision of information: May 24, 2023
To our shareholders:Atsushi Nagai
President
SINTOKOGIO, LTD.
3-28-12 Meieki, Nakamura-ku, Nagoya CityNOTICE OF THE 126TH ORDINARY GENERAL MEETING OF SHAREHOLDERS
We are pleased to announce the 126th Ordinary General Meeting of Shareholders of SINTOKOGIO, LTD. (the“Company”), which will be held as described below.
If you are unable to attend the meeting in person, you may exercise your voting rights via the Internet or in writing(postal mail). Please exercise your voting rights after reviewing the attached Reference Documents for the General
Meeting of Shareholders, and refer to the “Instructions for Methods to Exercise Voting Rights” below by Monday,
June 19, 2023 at 5:15 p.m. (JST).
1. Date and Time: Tuesday, June 20, 2023, 10:00 a.m. (JST)
2. Venue:
Midland Hall (5th floor of Midland Square Office Tower)
4-7-1 Meieki, Nakamura-ku, Nagoya City
3. Purposes:
Items to be reported:
1. Business Report and Consolidated Financial Statements for the 126th Term (from April 1, 2022 to March
31, 2023), as well as the results of audit of the Consolidated Financial Statements by the Accounting Auditor
and the Board of Auditors.
2. Non-Consolidated Financial Statements for the 126th Term (from April 1, 2022 to March 31, 2023)
Items to be resolved:
Proposal 1:
Amendment to the Articles of Incorporation
Proposal 2:
Election of eleven (11) Directors
Proposal 3:
Election of four (4) Auditors
The Company has adopted the electronic provision of information for the assembly of this general meeting ofshareholders and has posted the items subject to measures for electronic provision on the following website.
Company website: https://www.sinto.co.jp/ir/library/meeting/In addition to the above, the Company has also posted the information on the following website on the Internet.
Tokyo Stock Exchange website
https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show
Please access the above Tokyo Stock Exchange website, enter or search for our company name or securities code,and select “Basic information” and “Documents for public inspection/PR information” in that order.
To Exercise Voting Rights:
If you exercise your voting rights in writing (postal mail) and do not indicate your approval or disapproval of a
proposal on the voting form, we will treat it as if you indicated your approval.
If you exercise your voting rights more than once via the Internet, only the last exercise of voting rights shall bedeemed valid.
If you exercise your voting rights both via the Internet and in writing (postal mail), the vote exercised via the Internet
will be treated as the valid vote, regardless of the date of arrival.
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■ Instructions for Methods to Exercise Voting Rights
Attending the General Meeting of Shareholders
Date and Time: Tuesday, June 20, 2023 at 10:00 a.m. (JST)Please submit the voting form to the receptionist at the meeting site.
Only shareholders may enter the meeting on the day it is held. If you attend the meeting by proxy, the proxy must also be a shareholder.

Exercise of voting rights via the Internet
Deadline: to be exercised by Monday, June 19, 2023 at 5:15 p.m. (JST).
Please access the voting website (https://evote.tr.mufg.jp/) and indicate whether you approve or disapprove of each proposal by thevoting deadline.
For the “Instructions on Exercise of Voting Rights via the Internet,” please review the following pages.

Exercise of voting rights in writing
Deadline: to be received by Monday, June 19, 2023 at 5:15 p.m. (JST).
Please indicate on the voting form whether you approve or disapprove of each proposal, and return it by the voting deadline.

◎ If revisions to the items subject to measures for electronic provision arise, a notice of the revisions and the details of the items before

and after the revisions will be posted on the Company’s website (listed in the previous paragraph) and the Tokyo Stock Exchange website.
◎ At this general meeting of shareholders, regardless of whether or not a request for delivery of the document has been made, theCompany will uniformly send a document stating the items subject to measures for electronic provision. Among the items subject tomeasures for electronic provision, in accordance with the provisions of laws and regulations and Article 16 of the Articles ofIncorporation of the Company, the following items are not provided in the paper-based documents delivered to shareholders who havemade a request for delivery of such documents.
(i) Basic policy on internal controls and its operational status(ii) Notes to Consolidated Financial Statements(iii) Notes to Non-Consolidated Financial Statements(i) to (iii) are subject to auditing by the Auditors, and (ii) and (iii) are subject to auditing by the Accounting Auditor.

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Reference Documents for the General Meeting of Shareholders
Proposals and Related Matters
Proposal 1:

Amendment to the Articles of Incorporation

1. Reason for this proposal
To amend the business purposes in Article 2 of the current Articles of Incorporation to business purposes that
conform with the current business of the Company.
2. Details of proposed amendments
Details of the proposed amendment are as follows:(Underlined portions are amended.)
Current Articles
Proposed Amendments
Article 2 The purposes of the Company shall be to conduct the Article 2 The purposes of the Company shall be to conduct thefollowing businesses:
following businesses:
1. manufacture, sale, lease and repair of foundry
1. manufacture, sale, lease and repair of foundry
equipment, air pollution control equipment, surface
equipment, air pollution control equipment, surface
treatment equipment, powdery material handlingtreatment equipment, powdery material handlingequipment, other machines and equipment and partsequipment, other machines and equipment and parts
thereof;
thereof;
2. manufacture, sale, lease and repair of ceramic forming
2. manufacture, sale, lease and repair of ceramic forming
machines, vacuum forming machines, press forming
machines, vacuum forming machines, press forming
machines, 3D printers, casting machines, pressuremachines, 3D printers, casting machines, pressure
forming machines, other similar machinery and partsforming machines, other similar machinery and parts
thereof;
thereof;
3. manufacture, sale, lease and repair of transportation
3. manufacture, sale, lease and repair of transportationand material handling equipment, other automationand material handling equipment, other automationequipment and parts thereof:
equipment and parts thereof:
4. manufacture, sale, lease and repair of liquid crystal
4. manufacture, sale, lease and repair of liquid crystal
display cell assembly equipment, organic
display cell assembly equipment, organic
electroluminescent panel assembly equipment,
electroluminescent panel assembly equipment,
industrial micro robots, secondary battery assembly
industrial micro robots, secondary battery assembly
equipment, various types of sensors and their applied
equipment, various types of sensors and their applied
products, food testing instruments, instruments withproducts, food testing instruments, instruments withlaser applications, measuring instruments and parts
laser applications, measuring instruments and parts
thereof;
thereof;
5. manufacture and sale of molds and materials thereof
5. manufacture and sale of molds and materials thereof
for forming metal, ceramic, wood and other similar
for forming metal, ceramic, wood and other similarmaterials;
materials;
6. manufacture and sale of various cast metal products;
6. manufacture and sale of various cast metal products;
7. manufacture and sale of formed plastic and ceramic
7. manufacture and sale of formed plastic and ceramic
products made by the forming machines described in
products made by the forming machines described in
2. above, formed products made by forging machines
2. above, formed products made by forging machines
and similar formed products;
and similar formed products;
8. installation work of machines and equipment, surface
8. installation work of machines and equipment, surface
treatment work, reconditioning work of constructions,
treatment work, reconditioning work of constructions,structures and roads, contracting and execution of
structures and roads, contracting and execution ofother similar construction work;
other similar construction work;
9. manufacture and sale of abrasives for cleaning and9. manufacture and sale of abrasives for cleaning andprocessing, and media and compounds for polishing,processing, and media and compounds for polishing,
grinding and cutting;
grinding and cutting;
10. manufacture and sale of metallurgical composite
10. manufacture and sale of metallurgical composite
materials of metallic fiber, other sintered composite
materials of metallic fiber, other sintered composite
materials and metal powder;
materials and metal powder;
11. manufacture and sale of anti-bacterial, deodorant,
11. manufacture and sale of anti-bacterial, deodorant,anti-defiling and purifying products;
anti-defiling and purifying products;
12. data and voice processing by computers, and12. data and voice processing by computers, anddevelopment and sale of computer systems, robot
development and sale of computer systems, robot-3-

Current Articles
control systems and IoT-related systems andinstruments;
13. manufacture, sale, lease and repair of equipment andparts thereof for processing general and industrial
wastes, and disposal of industrial wastes;
14. measurement and analysis of air, water, soil, wastes
and other ingredients, and certification of the results
therefrom;(New)
15. manufacture and sale of dental equipment and tools
16. manufacture and sale of nursing care and welfare tools
17. planning, production and sale of video content; and18. any and all businesses incidental to the foregoing.

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Proposed Amendments
control systems and IoT-related systems andinstruments;
13. manufacture, sale, lease and repair of equipment andparts thereof for processing general and industrial
wastes, and disposal of industrial wastes;
14. measurement and analysis of air, water, soil, wastes
and other ingredients, and certification of the results
therefrom;
15. Calibration of measuring equipment, etc.
16. manufacture and sale of dental equipment and tools
17. manufacture and sale of nursing care and welfare tools
18. planning, production and sale of video content; and19. any and all businesses incidental to the foregoing.

Proposal 2:

Election of eleven (11) Directors

At the end of this Ordinary General Meeting of Shareholders, the term of office of all eleven (11) Directors will
expire. Therefore, the Company proposes that eleven (11) Directors be elected.
The candidates for Directors were decided based on recommendations by the Nomination and Compensation
Committee comprised of independent external officers.
The candidates for Directors are as follows:
No.

Name

Sex

Current role at the Company
Nomination
Term of
Attributes
andofficeRole
Compensation
Committee

1

Reelection

Yoshiki Ueda

Male

External
7 years
Independent2

Reelection

Atsushi Nagai

Male

3

Reelection Toshikazu Morishita

Male

4

5

Reelection Kenichi Nakamichi

Reelection

Hiromitsu
Uchiyama

Male

Chairman of the Board

100%(16/16 times)

27 years

Chief Executive Officer100%(16/16 times)

7 years

Sales

Chair

3 years

Male

Castec Company(16/16 times)

Development Division100%(16/16 times)Male

1 yearHidemi Yamauchi

Male

-

Hiroyuki Takeda

Male

-

9

Reelection Masatoshi Ozawa

Male

External
9 years
Independent

Committee
Member100%(16/16 times)

10

Reelection Yasuhito Yamauchi

Male

External
8 years
Independent

Committee
Member100%(16/16 times)

11

Reelection Yukako Uchinaga

FemaleCommittee

100%

Member(16/16 times)

8

New
electionNewelection

External
Independent

2 years-5-

Manager of Production
Division

100%(16/16 times)

Mikio Nakane

7

Reelection(16/16 times)
100%

Business Development,
General Manager of

2 years

100%

General Manager ofEnvironment, General
6

Attendance at Boardof Directors meetings

SURFACETEC
COMPANY President
General Manager ofSales Division

-

No.

Name
(Date of birth)

Career summary, position and responsibilities(significant concurrent positions outside the Company)
Apr. 1976
Apr. 2008

1

Yoshiki Ueda
(March 10, 1953)

Joined Mitsubishi Corporation
Senior Vice President (“Riji”) of Mitsubishi
Corporation
June 2010
President and CEO of Mitsubishi Corporation
Technos
June 2016
External Director of the Company
June 2017
Chairman of the Company (present position)(Significant concurrent positions outside the Company)
Outside Director and Audit and Supervisory Committee
Member of THK CO., LTD.

Number of theCompany’s shares
owned

-

[The reason for nominating as a candidate for External Director]
As Yoshiki Ueda has extensive business experience and knowledge as a senior executive of a general trading company
and a manager of a specialized trading company, the Company believes that he can supervise the management properly.
Therefore, the Company is convinced that he is capable of properly performing his duties as an External Director toenhance auditing functions of the Board of Directors and contribute to the business of the Company, and it asks
shareholders to elect him continuously as an External Director.
Ueda has been in the position of External Director of the Company for seven (7) years.
June 2002
Senior Managing Director of the Company
June 2006
President of the Company (present position)(Significant concurrent positions outside the Company)
Representative Director of Heinrich Wagner Sinto
Maschinenfabrik GmbH
Director of Sinto America, Inc.
521,626
2
Atsushi Nagai(September 30, 1960)[The reason for nominating as a candidate for Director]
Atsushi Nagai has been taking responsibility as President since 2006. Nagai has extensive knowledge of global businessas well as the ability to apply his knowledge of the whole business of the Company, and he has directed and supervised
the management properly as President. Therefore the Company is convinced that he is an appropriate person to realize
sustainable improvement of corporate value, and asks shareholders to elect him continuously as a Director.

-6-

No.

Name
(Date of birth)

Career summary, position and responsibilities(significant concurrent positions outside the Company)
Apr. 1982
July 2006

3

4

Number of theCompany’s shares
ownedJoined the Company
Executive Officer, Deputy General Manager ofFoundry Business Division of the Company
Apr. 2012
Executive Officer, Manager of Foundry
Business Division of the Company
June 2016
Director in charge of Sales and General
Manager of Sales Division of the Company
56,189Apr. 2021
Director, Senior Executive Officer in charge ofSales and General Manager of Sales Division of
the Company
Apr. 2023
Director, Managing Executive Officer in charge
Toshikazu Morishita
of Sales, General Sales Manager of Castec(June 22, 1958)
Company (in-house Company) (present
position)[The reason for nominating as a candidate for Director]
While engaged in management as a Director since 2016, Toshikazu Morishita has performed his role and responsibility
effectively as Supervisor of Sales. Morishita is able to apply his wealth of experience and high level of knowledge ofoverall sales and foundry business. Therefore the Company is convinced that he is an appropriate person to realize
sustainable improvement of corporate value, and asks shareholders to elect him continuously as a Director.
Apr. 1989
Joined SINTOBRATOR, LTD.
Apr. 2012Manager of Blast Division of the Company
July 2014
Executive Officer, Manager of Blast Divisionof the Company
July 2015
Managing Executive Officer, Manager of Blast
Division of the Company
June 2020
Director, General Manager of Overseas
20,670Business Division of the Company
Apr. 2022
Director, Senior Executive Officer, General
Manager of Castec Company (in-house
Company)
Kenichi Nakamichi
Apr.
2023
Director, Managing Executive Officer, General(August 8, 1965)
Manager of Castec Company (in-house
Company) (present position)[The reason for nominating as a candidate for Director]
While engaged in management as a Director since 2020, Kenichi Nakamichi has performed his role and responsibility
effectively as General Manager of Castec Company. Nakamichi has abundant experience in the overseas business
operations, and is able to apply his extensive experience and high level of knowledge in overseas business and thesurface treatment business. Therefore the Company is convinced that he is an appropriate person to realize sustainableimprovement of corporate value, and asks shareholders to elect him continuously as a Director.

-7-

No.

Name
(Date of birth)

Career summary, position and responsibilities(significant concurrent positions outside the Company)
Apr. 1983
Jan. 2011

May 2020
July 2020
Apr. 2021
June 2021
5

6

Hiromitsu Uchiyama(April 26, 1960)

Apr. 2023

Joined Toyota Motor Corporation
General Manager of Battery and FC Production
Engineering Department of Toyota Motor
Corporation
Advisor of the Company
Managing Executive Officer, General Manager
of Development Division of the Company
Senior Executive Officer, General Manager ofDevelopment Division of the Company
Director, Senior Executive Officer in charge ofBusiness Development and General Manager ofDevelopment Division of the Company
Director, Managing Executive Officer in chargeof Business Development and General Manager
of Development Division of the Company(present position)

Number of theCompany’s shares
owned

8,500

[The reason for nominating as a candidate for Director]
While engaged in management as a Director since 2021, Hiromitsu Uchiyama has performed his role and responsibility
effectively as General Manager of the Development Division and Supervisor of Business Development. Uchiyama isable to apply his extensive practical experience and knowledge cultivated in the development of products, such asbatteries, at an automobile manufacturer. Therefore the Company is convinced that he is an appropriate person to realize
sustainable improvement of corporate value, and asks shareholders to elect him continuously as a Director.
Apr. 1985
Joined the Company
July 2015
Manager of Environment Division of theCompany
July 2016
Executive Officer and Manager of Environment
Division of the Company
Apr. 2018
Managing Executive Officer, General Manager
of Ecotec Company (in-house Company)
Apr. 2021
Senior Executive Officer, General Manager of
15,634
Ecotec Company (in-house Company)
Apr. 2022
Director, Senior Executive Officer, General
Manager of Ecotec Company (in-house
Mikio Nakane
Company)(November 2, 1960)
Apr. 2023
Director, Managing Executive Officer in chargeof Environment, General Manager of
Production Division and General Manager of
Toyokawa Works of the Company (present
position)[The reason for nominating as a candidate for Director]
While engaged in management as a Director since 2022, Mikio Nakane currently performs his role and responsibility as
General Manager of the Production Division and Supervisor of Environment. Nakane is able to apply his high level ofknowledge and extensive experience of environment business as a whole. Therefore the Company is convinced that heis an appropriate person to realize sustainable improvement of corporate value, and asks shareholders to elect him
continuously as a Director.

-8-

Name
(Date of birth)

No.

*

Career summary, position and responsibilities(significant concurrent positions outside the Company)
Apr. 1980
Apr. 2012
July 2014

Apr. 2018

Apr. 2021
7

8

Hidemi Yamauchi(April 2, 1961)

Apr. 2023

Joined SINTOBRATOR, LTD.
General Manager of Support Promotion
Department, Sales Division of the Company
Executive Officer, General Manager of Support
Promotion Department, Sales Division of theCompany
Managing Executive Officer, SURFACETEC
COMPANY Vice President, General Manager
of Osaki Works of the Company
Senior Executive Officer, SURFACETEC
COMPANY President, General Manager of
Ichinomiya Works of the Company
Managing Executive Officer, SURFACETEC
COMPANY President, General Manager of
Ichinomiya Works (present position)

Number of theCompany’s shares
owned

13,003[The reason for nominating as a candidate for Director]
Hidemi Yamauchi has extensive experience in sales and manufacturing, and after serving as General Manager of Osaki
Works, he currently serves as the SURFACETEC COMPANY President. Yamauchi is able to apply his extensive
experience and high level of knowledge in sales and manufacturing. Therefore, the Company is convinced that he is anappropriate person to realize sustainable improvement of corporate value, and asks shareholders to elect him as a new
Director.
Sep. 1992
Joined SINTOBRATOR, LTD.
*
Mar. 2016
Qingdao Sinto Machinery Co., Ltd., China,
Managing Director
Apr. 2020
Executive Officer of the Company
Mar. 2021
Chairman and General Representative of China,
Qingdao Sinto Machinery Co., Ltd., China
Apr. 2022
Executive Officer, Deputy General Manager of
4,881
Sales Division of the Company
Apr. 2023
Executive Officer, General Manager of Sales
Division of the Company (present position)
Hiroyuki Takeda(December 30, 1969)[The reason for nominating as a candidate for Director]
Hiroyuki Takeda has extensive experience in sales and global business. He has served as the Company’s General
Representative of China and currently serves as General Manager of Sales Division. Takeda is able to apply his
extensive experience and high level of knowledge in sales and global business. Therefore, the Company is convincedthat he is an appropriate person to realize sustainable improvement of corporate value, and asks shareholders to electhim as a new Director.

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No.

Name
(Date of birth)

Career summary, position and responsibilities(significant concurrent positions outside the Company)
Joined Daido Steel Co., Ltd.
Representative Director and President of Daido
Steel Co., Ltd.
June 2010
Representative Director and Chairman of Daido
Steel Co., Ltd.
June 2014
External Director of the Company (present
position)(Significant concurrent positions outside the Company)
Outside Director of Okuma Corporation

Number of theCompany’s shares
owned

Apr. 1966
June 2004

9-

Masatoshi Ozawa(February 23, 1943)[The reason for nominating as a candidate for External Director]
As Masatoshi Ozawa has extensive knowledge and experience as a corporate manager, the Company is convinced that
he is capable of properly performing his duties as an External Director to contribute to the business of the Company andasks shareholders to elect him continuously as an External Director.
Ozawa has been in the position of External Director of the Company for nine (9) years.
Apr. 1968
Joined Toyota Motor Co., Ltd. (Current Toyota
Motor Corporation)
June 1995
Director of Toyota Motor Co., Ltd.
June 2001
Senior Managing Director of Toyota Motor Co.,Ltd.
June 2005
President of Aisin Seiki Co., Ltd. (Current
AISIN CORPORATION)
June 2015
External Director of the Company (present
position)
10
Yasuhito Yamauchi(January 2, 1942)[The reason for nominating as a candidate for External Director]
As Yasuhito Yamauchi has extensive business experience and knowledge of manufacturing as a manager of automobile
manufacturers and automobile parts manufacturers, the Company is convinced that he is capable of properly performing
his duties as an External Director to contribute to the business of the Company and asks shareholders to elect him
continuously as an External Director.
Yamauchi has been in the position of External Director of the Company for eight (8) years.

- 10 -

No.

Name(Date of birth)

Career summary, position and responsibilities(significant concurrent positions outside the Company)
June 1971
Apr. 1995
Apr. 2004

Number of theCompany’s shares
ownedJoined IBM Japan, Ltd.
Director of IBM Japan, Ltd.
Director, Senior Executive Officer in charge ofDevelopment and Manufacturing of IBM Japan,
Ltd.
Apr. 2007
Board Chair of Japan Women’s Innovative
Network (J-Win)
Apr. 2008
Director, Vice Chairman of Benesse
Corporation
Representative Director, Chairman of theBoard, President & CEO of Berlitz Corporation
June 2021
External Director of the Company (present
position)
11
July
2022
Chairperson and Representative Director of
Yukako Uchinaga
Japan Women’s Innovative Network (J-Win)(July 5, 1946)(present position)(Significant concurrent positions outside the Company)
Outside Director of Nippon Telegraph and Telephone
Corporation
Outside Director of Teijin Limited[The reason for nominating as a candidate for External Director]
As Yukako Uchinaga has extensive management experience as she has served as Director and Senior Executive Officer
of IBM Japan, Ltd. and Director and Vice Chairman of Benesse Corporation, extensive knowledge in the information
technology (IT) field and a deep understanding of diversity, the Company is convinced that she is capable of properly
performing her duties as an External Director to contribute to the business of the Company and asks shareholders toelect her continuously as an External Director.
Uchinaga has been in the position of External Director of the Company for two (2) years.
Notes: 1. New Candidates for Directors are marked with (*).
2. There is no special interest between the candidates and the Company.
3. Yoshiki Ueda, Masatoshi Ozawa, Yasuhito Yamauchi and Yukako Uchinaga are candidates for External Directors.
- Yoshiki Ueda served as Advisor to Mitsubishi Corporation Technos until June 2016. The amount of transactions
between the Company and Mitsubishi Corporation Technos is less than 1% of the consolidated net sales of either
company.
Furthermore, Ueda served as Advisor to Makino Milling Machine Co., Ltd. until June 2021. The amount oftransactions between the Company and Makino Milling Machine Co., Ltd. is less than 0.1% of the consolidated net
sales of either company. Therefore, this business relationship does not require special mention because it will not
influence Ueda’s execution of duties as External Director.
- Masatoshi Ozawa serves as Special Advisor of Daido Steel Co., Ltd. The amount of transactions between the
Company and Daido Steel Co., Ltd. is less than 1% of the consolidated net sales of either company. Therefore, thisbusiness relationship does not require special mention because it will not influence Ozawa’s execution of duties as
External Director.
- Yasuhito Yamauchi served as Advisor to Aisin Seiki Co., Ltd. (currently AISIN CORPORATION) until June 2018.
The amount of transactions between the Company and AISIN CORPORATION is less than 2% of the consolidated
net sales of either company. Therefore, this business relationship does not require special mention because it will not
influence Yamauchi’s execution of duties as External Director.
- Yukako Uchinaga serves as Chairperson and Representative Director of Japan Women’s Innovative Network (J-Win).
The amount of transactions between the Company and Japan Women’s Innovative Network (J-Win) is less than 0.1%of the consolidated net sales of either entity.
Furthermore, Uchinaga also served as Director, Vice Chairman of Benesse Holdings, Inc. until June 2013, but there
are no transactions between the Company and Benesse Holdings, Inc.
Uchinaga also served as an Outside Director of HOYA CORPORATION until June 2022. The amount of transactions
between the Company and HOYA CORPORATION is less than 0.1% of the consolidated net sales of either
company.
In addition, there are no transactions between the Company and IBM Japan, Ltd. from which she retired in 2007.
Furthermore, the amount of transactions between the Company and Teijin Limited, where Uchinaga currently serves
as Outside Director, is less than 0.1% of the consolidated net sales of either company.

- 11 -

4.

5.
6.

7.

Furthermore, the amount of transactions between the Company and Nippon Telegraph and Telephone Corporation,
where Uchinaga currently serves as Outside Director, is less than 0.1% of the consolidated net sales of either
company.
Therefore, this business relationship does not require special mention because it will not influence Uchinaga’s
execution of duties as External Director.
The Company has entered into limited liability agreements pursuant to Article 427, paragraph 1 of the Companies Act
with Yoshiki Ueda, Masatoshi Ozawa, Yasuhito Yamauchi and Yukako Uchinaga. Under the terms of the limited liability
agreement, their liability will be limited to a minimum amount stipulated by applicable laws and regulations. If thereelections of them are approved, the Company intends to continue the aforesaid agreements with them.
The Company has registered Yoshiki Ueda, Masatoshi Ozawa, Yasuhito Yamauchi and Yukako Uchinaga as Independent
Officers qualified under the regulations of the Tokyo Stock Exchange and Nagoya Stock Exchange.
The Company has entered into a directors and officers liability insurance contract as provided for in Article 430-3,
paragraph 1 of the Companies Act with an insurance company. This insurance policy covers damages, litigation expenses,
etc. to be borne by the insured. The candidates are included as the insured in this insurance policy. In addition, when thepolicy is renewed, the Company plans to renew the policy with the same terms.
The number of shares held by Atsushi Nagai, President, includes shares held by Ken Bridge Partners LLC, his asset
management company.

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Proposal 3:

Election of four (4) Auditors

At the end of this Ordinary General Meeting of Shareholders, the term of office of all four (4) Auditors will expire.
Therefore, the Company proposes that four (4) Auditors be elected.
The candidates for Auditors were decided based on recommendations by the Nomination and Compensation
Committee comprised of independent outside officers. The Board of Auditors has given its consent to this proposal.
The candidates for Auditors are as follows:
No.

Name

Sex

Nomination
Term ofandAttendance at Board Attendance at Board
Attributes
office Compensation of Directors meetings of Auditors meetings
Committee

1

Reelection

Tsuyoshi GotoMale

4 years2

Reelection

Yuji OkuboMale

4 years3

Reelection

Toshiro Kojima

Male

External
7 years
Independent

4

New
electionTakami Onodera

Male

External
Independent-- 13 -

100%

100%(16/16 times)(16/16 times)

100%

100%

(16/16 times)(16/16 times)

Attendee100%(16/16 times)

100%(16/16 times)

Attendee

-

-

No.

Name
(Date of birth)

Career summary and position(Significant concurrent positions outside the Company)
Apr. 1980
July 2015
June 2016
Apr. 20191

June 2019
Tsuyoshi Goto
(February 25, 1957)

Joined the Company
Executive Officer, Manager of Production
Center of the Company
Director, Manager of Production Center of theCompany
Director, Supervisor of Manufacturing andGeneral Manager in charge of the Production
Division of the Company
Full Time Auditor of the Company (present
position)

Number of theCompany’s shares
owned

16,776[The reason for nominating as a candidate for Auditor]
As the Company is convinced that Tsuyoshi Goto is capable of contributing his extensive experience and broad
knowledge in the Production Division of the Company to objectively supervising the execution of duties by directors,
the Company asks shareholders to re-elect him as an Auditor.
Apr. 1976
Joined the Company
Apr. 1999
GM of International Operations of theCompany
Oct. 2009
General Manager of Administration Department
July 2015
Executive Officer in charge of Accounting and
Finance of the Company
10,022June 2019
Full Time Auditor of the Company (present
position)2
Yuji Okubo(October 30, 1953)[The reason for nominating as a candidate for Auditor]
As the Company is convinced that Yuji Okubo is capable of contributing his extensive experience in overseas business
operations of the Company and broad knowledge in the financing and accounting to objectively supervise the executionof duties by directors, the Company asks shareholders to re-elect him as an Auditor.

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Name(Date of birth)

No.

Career summary and position(Significant concurrent positions outside the Company)
Joined Hitachi, Ltd.
Risk Management Department of Hitachi, Ltd.
Executive Officer of Kyodo News Digital Co.,
Ltd., Director of Risk Control ResearchInstitute (present position)
June 2016
External Auditor of the Company (present
position)(Significant concurrent positions outside the Company)
Executive Officer of Kyodo News Digital Co., Ltd.

Number of theCompany’s shares
owned

Apr. 1977
July 2000
July 20153-

Toshiro Kojima(April 5, 1953)[The reason for nominating as a candidate for External Auditor]
As the Company is convinced that Toshiro Kojima is capable of contributing his extensive experience and broad
knowledge in risk control to objectively supervise the execution of duties by directors, the Company asks shareholders
to elect him again as an External Auditor this time. Kojima has been in the position of External Auditor of the Company
for seven (7) years.
Apr. 1980
Joined The Mitsubishi Bank, Ltd. (current*
MUFG Bank, Ltd.)
June 2006
Executive Officer, General Manager of Loan
Planning Dept.
May 2010
Managing Executive Officer
June 2013
Deputy President of Mitsubishi UFJ Securities
Holdings Co., Ltd.
June 2018
Chairman of the Board, Representative Directorof Mitsubishi UFJ NICOS Co., Ltd. (present
position)

4

Takami Onodera(April 4, 1957)

Notes:

1.
2.
3.

4.

5.

[The reason for nominating as a candidate for External Auditor]
As the Company is convinced that Takami Onodera is capable of contributing his extensive experience related to
management of financial institutions, in addition to his broad knowledge gained in financial related operations, toobjectively supervise the execution of duties by directors, the Company asks shareholders to elect him as a newExternal Auditor this time.
New Candidates for Auditors are marked with an asterisk (*).
There is no special interest between the candidates and the Company.
Toshiro Kojima and Takami Onodera are candidates for External Auditor.
- Toshiro Kojima served at Hitachi, Ltd. until July 2014. The amount of transactions between the Company and
Hitachi, Ltd. accounts for less than 0.1% of the consolidated net sales of either company. Therefore, this business
relationship does not require special mention because it will not influence Kojima’s execution of duties as External
Auditor.
- Takami Onodera served as an officer involved with the execution of business of The Bank of Tokyo-Mitsubishi, Ltd.
(current MUFG Bank, Ltd.) until June 2013. The amount of loans from MUFG Bank, Ltd. group to the Company
Group is less than 4% of the consolidated total assets of the Company. Therefore, this business relationship does not
require special mention because it will not influence Onodera’s execution of duties as External Auditor.
The Company has entered into a limited liability agreement pursuant to Article 427, paragraph 1 of the Companies Act
with Toshiro Kojima. Under the terms of the limited liability agreement, his liability will be limited to a minimum amountstipulated by applicable laws and regulations. If the reelection of Kojima is approved, the Company intends to continue
the aforesaid agreement with him. If the election of Takami Onodera is approved, the Company intends to enter into thesame limited liability agreement with him.
The Company has registered Toshiro Kojima as Independent Officer qualified under the regulations of the Tokyo Stock
Exchange and Nagoya Stock Exchange. As Takami Onodera satisfies the requirements for Independent Officer qualified
under the regulations of the Tokyo Stock Exchange and Nagoya Stock Exchange, the Company intends to register him as
Independent Officer.

- 15 -

(Reference)Management structure after agenda is approved (Expertise and experience possessed by Directors
and Auditors)
Persons with abundant experience, a high level of insight, and a high degree of expertise are appointed as Directors
while ensuring there is a diversity suited to the Company’s management plan and strategy. Within the Board of
Directors, they conduct appropriate decision-making and management supervision. For Internal Directors, persons
who are familiar with sales, development, technology, production, management, etc. are appointed, while taking
into account the balance of knowledge, experience and abilities. Four independent External Directors haveexperience as Representative Directors of listed companies and track records within corporate management, andprovide advice and recommendations based on a variety of backgrounds related to sales, technology,
manufacturing, information, and sustainability.
Notes: ●The purpose of this table is not to show all expertise and experience but rather to show the expertiseand experience considered particularly important in deliberation and decision-making at the Boardof Directors, as indicated with the ◎ symbol, and expertise and experience considered important,
as indicated with the 〇 symbol.
●
The criteria include current job title and experience based on past job titles.
●
Fourteen (14) males and one (1) female (female comprising 6.7% of Directors and Auditors)
Expertise and experience possessed by Directors of the Company

KenichiNakamichi
Hiromitsu
Uchiyama
Mikio
NakaneHidemi
Yamauchi
Hiroyuki
Takeda◎〇◎Director,
Managing
Executive Officer
Director,
Managing
Executive Officer
Director,
Managing
Executive Officer
Director,
Managing
Executive Officer
Director
Managing
Executive Officer
Director
Managing
Executive Officer

〇

〇

◎
〇

〇

〇

〇

〇

〇

External Director

External
Independent◎

Yasuhito
YamauchiExternal Director

External
Independent◎

YukakoUchinaga

External Director

External
Independent◎〇(SteelIndustry)〇(Automobile
Industry)〇
Information /Communications- 16 -〇〇〇

Masatoshi
Ozawa

〇

〇

〇

〇

◎

〇

〇

〇

〇

〇

〇

〇

Governance/
Risk Management

Toshikazu
Morishita〇

Digital/Information
Security

President〇(Trading
Company)

Organizational
Management/
Human Capital/
Planning/Finance

Atsushi
Nagai◎

Development/
Technology/
Manufacturing

External
Independent

Sales &
Marketing

Chairman

Environment /Sustainability

Yoshiki
Ueda

Internationality /Global Business

Attributes

Industry
Knowledge

Job Title

Corporate
Management(such asexperience as a
Representative
Director at a listedcompany)

Name

〇

〇

〇

〇

〇

◎

〇

◎

〇

〇

〇

◎

Expertise and experience possessed by Auditors of the Company

External Auditor

External
Independent

Takami
OnoderaExternal Auditor

External
Independent〇(Electrical
Equipment)〇(Banking)◎〇*1: Possessing a wealth of business experience involving risk management in global business*2: Possessing a wealth of business experience involving financial related operations, etc.

- 17 -

〇
◎

〇

◎*1

〇

〇

Governance/
Risk Management
Digital/Information
SecurityToshiroKojimaOrganizational
Management/
Human Capital/
Planning/Finance〇

Development/
Technology/
Manufacturing

Full Time Auditor

Sales &
Marketing〇

Environment /Sustainability

Full Time Auditor

Internationality /Global Business

Attributes

Industry
Knowledge

Tsuyoshi
Goto
Yuji
Okubo

Job Title

Corporate
Management(such asexperience as a
Representative
Director at a listedcompany)

Name

〇

◎*2

Business Report(From April 1, 2022 to March 31, 2023)

1. Current status of the corporate group(1) Business progress and achievement
During the fiscal year ended March 31, 2023, the global economy experienced a slowdown in the recovery
base of business conditions due to soaring resource and energy prices following the prolonged Russian
invasion of Ukraine, rising policy interest rates accompanying accelerated inflation in Europe and the UnitedStates, and the re-expansion of infection in China, while measures against COVID-19 infections (hereinafterreferred to as “infectious diseases”) and economic activities were progressing at the same time. In the U.S.,
the economy remained firm due to a recovery in personal consumption and other factors, despite a slowdown
against the backdrop of higher interest rates to curb inflation and surging energy prices. In Europe, although
the economy was on a recovery trend due to the removal of action restrictions, it remained sluggish due tosoaring energy prices and the prices of other commodities. In China, despite efforts to normalize economic
activities from the zero-COVID policy to living with COVID-19, the economy slowed down due to sluggish
real estate market conditions and other factors. In Japan, although economic activities normalized due to theeasing of action restrictions, business conditions remained uncertain due to the weak yen, soaring energy prices,supply instability and deteriorating procurement environment for semiconductors and other products.
With regard to the business environment of the Company group (the “Group”), some of the Group’s majorclients including the automobile industry were forced to make production adjustments in response to theimplementation of measures against infectious diseases and parts supply disruptions. However, sales of partsand supplies, mainly for the electronics industry remained firm due to the strong performance in thesemiconductor industry.
Amid such an environment, orders received during the fiscal year under review totaled to ¥114,164 million,
an increase of ¥6,860 million compared with those for the previous fiscal year (up 6.4% year on year).
Meanwhile, net sales amounted to ¥106,381 million, an increase of ¥7,133 million (up 7.2% year on year),and backlog of orders amounted to ¥52,172 million, an increase of ¥7,783 million (up 17.5% year on year).
As to earnings, operating profit decreased ¥364 million to ¥2,242 million (down 14.0% year on year), ordinary
income decreased ¥527 million to ¥3,951 million (down 11.8% year on year), and net income attributable toowners of the parent increased ¥3,352 million to ¥6,187 million (up 118.2% year on year).
Note:

All monetary values in this report have been rounded down to the nearest unit, and ratios and per-unit
values have been rounded to the nearest unit.

The Group’s products are sold across various businesses, and the following description and table show thedetails and results of net sales and operating profit by business segment for the fiscal year under review.
Net sales by business segment are the figures prior to intersegment eliminations.
Surface Treatment BusinessNet sales increased ¥4,705 million to ¥46,012 million (up 11.4% year on year) due to strong sales of surface
finishing equipment to electronics-related industries due to strong demand for semiconductors and in theinfrastructure and construction machinery industries, as well as increased sales of parts and supplies as
production activity recovered in various industries, including the automobile industry. Operating profit
increased ¥234 million to ¥2,893 million (up 8.8% year on year) due to higher sales of consumables and parts.
Orders received totaled to ¥48,397 million, an increase of ¥6,478 million (up 15.5% year on year), and backlogof orders amounted to ¥8,405 million, an increase of ¥2,385 million (up 39.6% year on year).
Foundry Business
Sales increased ¥2,384 million to ¥36,426 million (up 7.0% year on year) due to progress in acceptanceinspections for overseas projects, which were supported by online technology and alternative local dispatchof overseas bases, although sales remained sluggish due to long delivery times mainly for electronic
components and delays in the construction of customer plants for large plant projects. Operating loss amounted
to ¥83 million (loss of ¥17 million in the previous fiscal year). Orders received totaled to ¥37,562 million, a- 18 -

decrease of ¥574 million (down 1.5% year on year), and backlog of orders amounted to ¥27,687 million, an
increase of ¥1,761 million (up 6.8% year on year).
Environment Business
Sales of general-purpose dust collectors were firm, but sales declined ¥139 million to ¥10,712 million (down
1.3% year on year) due to longer delivery times for key components such as blower motors and inverters, andthe inability to pass on higher raw material prices to quoted prices. Operating profit amounted to ¥759 million,a decrease of ¥141 million (down 15.7% year on year) due to a negative effect on revenues as well as soaring
raw material and electronic component prices. Orders received totaled to ¥11,179 million, a decrease of ¥55
million (down 0.5% year on year), and backlog of orders amounted to ¥5,215 million, an increase of ¥726
million (up 16.2% year on year).
Material Handling Business
Sales increased ¥55 million to ¥6,135 million (up 0.9% year on year) due to firm sales to the machine tool andlogistics industries, although sales to the automobile industry remained sluggish due to the shortage ofsemiconductors and electrical components. Operating profit decreased ¥125 million to ¥482 million (down
20.6% year on year). Orders received totaled to ¥8,228 million, an increase of ¥1,754 million (up 27.1% year
on year), and backlog of orders amounted to ¥4,172 million, an increase of ¥2,116 million (up 103.0% year
on year).
Special Equipment BusinessNet sales came to ¥8,785 million, an increase of ¥1,090 million (up 14.2% year on year) due to strong salesof high-pressure roll press machines for the automotive secondary battery market. Operating loss amounted
to ¥629 million (loss of ¥386 million in the previous fiscal year) due to the increase in cost ratio. Orders
received totaled to ¥8,626 million, a decrease of ¥749 million (down 8.0% year on year), and backlog of orders
amounted to ¥6,690 million, an increase of ¥793 million (up 13.5% year on year).
Status of net sales by business segment of the corporate group
Fiscal Year
Category

126th Term
(Fiscal year under review)
April 1, 2022 to March 31, 2023
Millions of yen

Surface Treatment Business

125th Term
(Previous fiscal year)
April 1, 2021 to March 31, 2022%

Millions of yen

Year-on-yearchanges%%

46,011

43.2

41,292

41.6

11.4

Foundry Business

35,801

33.7

33,45933.7

7.0

Environment Business

10,4539.8

10,658

10.7

(1.9)

Material Handling Business

6,111

5.7

6,045

6.1

1.1

Special Equipment Business

7,832

7.4

7,628

7.7

2.7

170

0.2

163

0.2

4.3

Total

106,381100.0

99,247100.0

7.2

Overseas sales

49,592

46.6

40,161

40.5

23.5

Other Business

Note:

The above amounts are the figures after intersegment eliminations.

- 19 -

(2) Status of capital investments
In the fiscal year under review, the total amount of capital investments made by the Group was ¥3,277 million,
and the main components thereof are as follows.
Foundry Business

Construct a new plant in Brazil following the relocation of the foundry

Material Handling Business

Renovate the plant building of MEIKIKOU Corporation

Special Equipment Business

Shinshiro Works - Renewal of facilities and equipment at the new plant(3) Issues to be addressed
Since our establishment in 1934, the Group has been refining its skills, pursuing world-class technologies, andbuilding relationships of trust with its customers through technology, based on its hopes of cherishing the heartof manufacturing and contributing to society. We strive to offer new value to our customers and to build bondsof trust, always keeping their manufacturing needs in mind. To such ends, we set our sights on our number ofcustomers, which serves as a key performance indicator. We will persist with our aim of serving as a company
that is consistently chosen by customers generation after generation, as we deepen our bonds with everyone
around us while valuing each and every customer.
Growth strategy
Given that we are operating in a business environment that is undergoing unprecedented change more
rapidly and extensive than ever before, we will seek to flexibly address such change by bolstering
investment geared to creating partnerships for the sake of actively tapping into external resources andjointly opening a pathway to the future.
The Company strives to increase corporate value by addressing social issues, and prioritizes strategic
investments necessary for sustainable growth, including research and development, capital investment, andmergers and acquisitions. In addition, our basic financial strategy is to continue to provide a stable returnof profits to shareholders, and use the cash flow generated by our business activities for investments in thesurface finishing business and other growth businesses, as well as for shareholder returns. We will also
optimize our strategy to keep our P/B ratio above 1, and maximize value to stakeholders and achievesustainable growth by investing in sustainable growth and providing stable profit returns.
Key issues (materiality)
We have set three realms as the aims of our vision, consisting of (i) an environmentally friendly recyclingoriented society, (ii) a safe, secure, and abundant society through manufacturing, and (iii) a society where
people are able to experience inspiration, growth, and happiness. In achieving such aims, we have selected
the five categories of the environment, human capital, technological development and manufacturing,stakeholders, and business infrastructure as key issues, and will address such key issues.
• Environmental initiatives
We consider the impact of climate change on our business to be a key issue and accordingly manage suchrisk in a manner that particularly involves paying close attention to how our profits are affected by flood
damage and rising energy costs, as well as surging prices of raw materials and difficulty in obtaining them
due to increasingly stringent regulations.
• Human capital initiatives
Generally, local nationals serve as top management of our overseas bases and we assess maintenance skillsof the Company’s products on the basis of universal evaluation standards. We will also accelerate efforts
to promote women’s empowerment.
• Business infrastructure initiatives
The Group identifies, evaluates, and visually depicts risk associated with its business activities based on
its basic policy for addressing risk, established by the Risk Management Committee under the direct control- 20 -

of the Board of Directors. We will have the Risk Management Committee report results of its activities tothe Board of Directors in seeking to further strengthen our risk management structure.
We would like to ask our shareholders for your continued support and cooperation.
(4) Trends in assets and profit and loss
Fiscal Year
Category

123rd Term
April 1, 2019 toMarch 31, 2020

124th Term
April 1, 2020 toMarch 31, 2021

Millions of yen

Net sales

Millions of yen

102,703
Millions of yen

Profit attributable to owners ofparentNet assets

Millions of yen

606

Millions of yen

106,381Millions of yen

2,835

Yen

54.10

Total assets

99,247

Millions of yen

Yen

Basic earnings per share

Millions of yen

82,5442,879

126th Term
(Fiscal year underreview)
April 1, 2022 toMarch 31, 2023

125th Term
April 1, 2021 toMarch 31, 2022

6,187

Yen

11.39

Yen

53.28

117.93

Millions of yen

Millions of yen

Millions of yen

Millions of yen

156,461

164,201

168,586

171,367

Millions of yen

Millions of yen

Millions of yen

Millions of yen

104,124

109,641

111,755

99,849(5) Status of principal subsidiaries
Company nameShare capital

Equity ownership of
the Company

Millions of yen

MEIKIKOU Corporation

Principal lines of business% Manufacture and sale of transportation

200

83.7

machines, material handling machines androbotsThousands of euro

Sinto Europe GmbH
Heinrich Wagner Sinto
Maschinenfabrik GmbH49,645100.0

Thousands of euro

0.0
(100.0)2,200Management of subsidiaries in Europe
Manufacture and sales of facilities andmachines for foundries in Europe

Thousands of U.S. dollar

Sinto America, Inc.

60

100.0

Thousands of U.S. dollar

Roberts Sinto Corporation

0.0(100.0)2,077
Millions of yuan

Qingdao Sinto Machinery Co., Ltd.

129

95.0

Millions of Brazilian real

Sinto Brasil Produtos Limitada
Sinto Bharat Manufacturing Private
Limited
Note:

42

99.0

Millions of Indian rupee

670

74.0

Management of subsidiaries in the U.S.
Manufacture and sales of foundry
equipment, material handling equipment andsand coating facilities in the U.S.
Manufacture and sales of foundry
equipment, surface treatment equipment andabrasives in China
Manufacture and sales of foundry
equipment, surface treatment equipment andabrasives in Brazil
Manufacture and sales of foundry equipment
and surface treatment equipment in India

The numbers in parentheses indicates the ownership ratio through indirect holdings.

- 21 -

(6) Status of important business combinations• Aiming to expand the application area of laser peening (LP), we established SINTO-LSPT, Inc. through a joint
investment with LSP Technologies, Inc.
(7) Principal lines of business
Category of business

Details of main products

Surface Treatment Business

Shot blasting machines, air blasting machines, shot peening machines, barrel polishing equipment,
precision brushing equipment, ultra-precision microprocessing equipment, surface evaluationequipment, surface treatment contract processing, surface treatment-related parts, abrasives,
polishing media, etc.

Foundry BusinessCasting production equipment, V-process molding equipment, core molding equipment, casting
sand treatment equipment, automated pouring equipment, sand coating facilities, casting-relatedparts, powder & granule treatment equipment, wear-resistant castings, etc.

Environment Business

Dust collectors, deodorization equipment, wastewater treatment equipment, volatile organic
compounds (VOC) gas purifier, environment-related parts, etc.

Material Handling BusinessLifting devices, steplifts, gravity conveyors, material handling systems, etc.

Special Equipment Business

Organic electroluminescent panel assembly equipment, automated line processes thereof(including supply and material handling equipment), material handling robots, servo cylinders,
inspection and measurement equipment, precision measuring instruments, precision press
processing equipment, disperizers, battery material supply equipment, 3D printers, ceramic
products, foaming machines, automotive door assembly equipment, magnetic metal powder,sterile isolator for sterile conditioning, special equipment-related parts, nursing care and welfare
tools, etc.

Other Business

Machinery design, welfare businesses, etc.

(8) Major offices and factories(i)

The Company

Headquarters

Headquarters (Nagoya City)

Branches

Tokyo Branch (Kawaguchi City, Saitama)
Chubu Branch (Oharu-cho, Ama-gun, Aichi)
Osaka Branch (Osaka City)

Offices

Toyokawa Works (Toyokawa City, Aichi)
Ichinomiya Works (Toyokawa City, Aichi)
Osaki Works (Toyokawa City, Aichi)
Shinshiro Works (Shinshiro City, Aichi)
Koda Works (Kota-cho, Nukata-gun, Aichi)
Oharu Works (Oharu-cho, Ama-gun, Aichi)
Kyushu Works (Kurate-cho, Kurate-gun, Fukuoka)
Atsugi Works (Atsugi City, Kanagawa)(ii)

Subsidiaries

Domestic

MEIKIKOU Corporation (Aichi)

Overseas

Heinrich Wagner Sinto Maschinenfabrik GmbH (Germany)
Roberts Sinto Corporation (U.S.A.)
Qingdao Sinto Machinery Co., Ltd. (China)
Sinto Brasil Produtos Limitada (Brazil)
Sinto Bharat Manufacturing Private Limited (India)- 22 -

(9) Employees
Category

Domestic

Number of employees
Note:Overseas
2,188

Total
1,798

3,986

The number of employees of the Company is 1,735.

(10) Major creditors
Creditor

Balance of borrowings

MUFG Bank, Ltd.

¥6,129 million

Syndicate loan

¥3,300 million

Resona Bank, Limited¥3,100 million

Note:Syndicated loan is a joint-financing instrument with MUFG Bank, Ltd. as a lead bank.

- 23 -

2. Matters relating to the Company’s shares(1)

Total number of authorized shares:

230,476,000(2)Total number of issued shares:

54,580,928 (including 2,060,573 treasury shares)(3)

Number of shareholders:

27,886(4) Top ten shareholders
Name

Number of shares held

Shareholding ratio

Thousands of shares

The Master Trust Bank of Japan, Ltd. (trust account)

%

5,010

9.54

Custody Bank of Japan, Ltd. (trust account)

2,462

4.68

MUFG Bank, Ltd.

2,289

4.35

Meiji Yasuda Life Insurance Company

2,276

4.33

Resona Bank, Limited

1,668

3.17

The NAGAI Foundation for Science & Technology

1,405

2.67

Sinto Employee Stock Ownership

1,300

2.47

Takateru Murakami

1,182

2.25

Sinto Supplier Stock Ownership

1,147

2.18

NORTHERN TRUST CO.(AVFC) RE U.S. TAX EXEMPTEDPENSION FUNDS SEC LENDING

1,087

2.07

Notes: 1. Although the Company holds 2,060,573 treasury shares, it is excluded from the list of top ten shareholders.
2. The shareholding ratio was calculated based on the total number of issued shares less treasury shares and was rounded
down to the nearest unit.

(5) Shares issued to the Company’s directors (and other officers) during the fiscal year under review ascompensation for the execution of their duties
Number of shares

Number of directors (and otherofficers) to whom shares were
granted(Thousands of shares)
28

Directors (excluding External Directors)- 24 -(people)7

(Reference)
Policy on shareholding of other companies
The Company holds shares of other companies taking a medium- to long-term perspective for increasing its corporate
value upon comprehensively taking into account its business strategy and professional relationships with its business
partners. At the same time, in order to achieve sustainable growth from a long-term perspective, we are responsible
for financial resources that allow us to constantly invest even in the face of inflation.
In addition, the Board of Directors, on an annual basis, confirms compatibility with its purpose of share ownershipand furthermore confirms the appropriateness of share ownership across its entire portfolio of such listed shares ofother companies held by the Company, which involves comparing benefits of ownership (operating revenue,
dividends, capital gains, etc.) against risks of ownership including cost of capital.
In February 2023, we sold a portion of shares of other companies to execute mergers and acquisitions as the first step
toward expanding business value. We will continue to use this as a source of funds to promote investment in businessgrowth.
Moreover, the Company is developing networks of construction contractors who handle work that includes
installation, remodeling, and test runs (hereinafter referred to as “SSV Companies”) to address worker shortages atconstruction sites. The Company is proceeding with holdings of shares of SSV Companies based on its businessstrategy, partially for the sake of outsourcing to achieve operational streamlining, and also given that such
construction contractors are able to provide support tailored to customers in close proximity to their locations ofbusiness.
(Changes in the value of shares of other companies and the number of issues)
No. of issues(Millions of yen)

FY2018

Consolidated net assets ratio

FY2019FY2020

FY2021

FY2022FY201819.8%

FY201917.8%

FY202022.9%

FY2021
23.6%

FY2022
16.3%*The bar chart depicts valuations of shares of other companies (black = listed shares; gray = unlisted shares)*The line chart depicts the number of issues held (black solid line = number of issues excluding SSV; gray dotted line = number oflistings including SSV)

- 25 -

3. Matters relating to the Company officers(1) Name, etc. of Directors and Auditors
Position

ChairmanPresident

Name

Responsibility and significant concurrent positions outside theCompany

Yoshiki Ueda

(Significant concurrent positions outside the Company)
Outside Director (Audit and Supervisory Committee Member) of
THK CO., LTD.

Atsushi Nagai(Significant concurrent positions outside the Company)
Representative Director of Heinrich Wagner Sinto
Maschinenfabrik GmbH
Director of Sinto America, Inc.

Managing Director, Senior Executive
Tsuneyasu Kuno
Officer

System and Production

Managing Director, Senior Executive
Yatsuka Taniguchi
Officer

General Administration

Director,
Senior Executive Officer

Toshikazu Morishita

Sales, General Manager of Sales Division

Director,
Senior Executive Officer

Kenichi Nakamichi

General Manager of Castec Company, in charge of Overseas
Foundry Machine Sales

Director,
Senior Executive Officer

Hiromitsu Uchiyama

Business Development, General Manager of Development
Division

Director,
Senior Executive Officer

Mikio Nakane

Environment, General Manager of Production Division, General
Manager of Ecotec Company, in charge of Overseas
Environmental Sales, General Manager of Toyokawa Works

External Director

Masatoshi Ozawa(Significant concurrent positions outside the Company)
Outside Director of Okuma Corporation

External Director

Yasuhito Yamauchi(Significant concurrent positions outside the Company)
Chairperson and Representative Director of Japan Women’s
Innovative Network (J-Win)
Outside Director of Nippon Telegraph and Telephone Corporation
Outside Director of Teijin Limited

External Director

Yukako Uchinaga

Auditor (Full Time)

Tsuyoshi Goto

Auditor (Full Time)

Yuji Okubo

External Auditor

Toshiro Kojima(Significant concurrent positions outside the Company)
Executive Officer of Kyodo News Digital Co., Ltd.

External Auditor

Kazuhiko Hasegawa(Significant concurrent positions outside the Company)
Outside Director (Audit and Supervisory Committee Member) of
The Takigami Steel Construction Co., Ltd.

Notes: 1. At the 125th Ordinary General Meeting of Shareholders held on June 21, 2022, Mikio Nakane was elected as Director andassumed the office.
2. At the end of the 125th Ordinary General Meeting of Shareholders held on June 21, 2022, Shigeru Ishida retired from theirposition as Director.
3. Directors Yoshiki Ueda, Masatoshi Ozawa, Yasuhito Yamauchi, and Yukako Uchinaga are External Directors.
4. Auditors Toshiro Kojima and Kazuhiko Hasegawa are External Auditors.
5. External Directors Yoshiki Ueda, Masatoshi Ozawa, Yasuhito Yamauchi and Yukako Uchinaga, and External Auditors
Toshiro Kojima and Kazuhiko Hasegawa are Independent Officers, which are required to be put in place by the Tokyo Stock
Exchange, Inc. and Nagoya Stock Exchange, Inc. for the protection of general shareholders.

- 26 -

(2) Amount of remuneration, etc. for Directors and Auditors(i)

Policy on determining the remuneration, etc. for Directors
The Company has established the Nomination and Compensation Committee, which is composed of four
External Directors and attended by two External Auditors, for the purpose of enhancing transparency withregard to remuneration, etc. for Directors. The Committee deliberates and determines from an objective
and fair perspective upon the structure and level of remuneration, etc., and the evaluation, etc. of each
Director.
While remuneration for Directors is based on job title and position, performance-linked remuneration, etc.,
has been introduced with a view to further improving corporate performance and sharing value withshareholders.
Based on data from surveys conducted by outside professional organizations, the Company will set
remuneration levels that are appropriate to the size of the Company and the duties and responsibilities that
officers should fulfill.
a. Structure of remuneration
It consists of a basic remuneration according to the job title and position (a fixed portion and variablevaluation portion), restricted stock compensation, Directors’ bonuses, and medium- to long-term
incentive remuneration (share-based remuneration). Composition ratios of performance-linked
compensation (restricted stock compensation, Directors’ bonuses and medium- to long-term incentive
remuneration) with respect to total remuneration increase as Directors rise in rank.
b. Performance-linked remuneration
Restricted stock compensation is a partial transfer of basic compensation to stock compensation, and isintended to provide incentives to increase corporate value and further share value with shareholders.
Under the concept of profit sharing, the amount of bonuses for Directors are determined by taking into
account the amount paid in the past and other various factors, based on the amount of operating profit,
which indicates the Company’s earnings, and other indicators.
Medium- to long-term incentive remuneration (share-based remuneration) is a system under which theCompany’s shares are provided in proportion to the degree to which performance targets (indicator:
consolidated ordinary profit margin) are exceeded and the degree to which capital efficiency (indicator:
consolidated return on equity) is improved for the period of the medium-term management plan, according
to the position. Both indicators are adopted as significant factors that lead to enhancement of corporate andshareholder value. While this system was introduced in 2015, no payment has been made as the set targets
have not been achieved.
c. Remuneration determination process
The Company has established the voluntary Nomination and Compensation Committee, which deliberates
and determines on the election of candidates for Directors and Auditors, the remuneration system for
Directors, the evaluation of each Director, the amount of bonuses for Directors and so forth.
Decisions on the amount of bonus for Directors reflect results of evaluations performed by the Nomination
and Compensation Committee taking into account the standard amount specified for each position andbased on the amount resolved at the Board of Directors meeting and the General Meeting of Shareholders.
Decisions on the amount of basic remuneration reflect results of the evaluation of Directors performed by
the Nomination and Compensation Committee and other factors, based on the standard amount specified
for each position.

- 27 -

(ii)Total amount of remuneration, etc. by officer category, total amount of remuneration, etc. by type of
remuneration, etc., and number of eligible officers
Amount of remuneration, etc. by type (Thousands of yen)
Number of eligible
officers(Person)Basic
remuneration

Director

12

Auditor
Total

Classification

Performance-linked remuneration

Amount of
remuneration, etc.
(Thousands of yen)

Bonuses

Share-based
remuneration

153,957–

19,453

173,410

4

50,400––50,40016

204,357–

19,453

223,810Notes: 1. The amount of remuneration, etc. paid to four External Directors and two External Auditors is ¥67,200 thousand and isincluded in the aforementioned amount of remuneration, etc.
2. The maximum amount of remuneration for Directors was resolved at the 125th Ordinary General Meeting of Shareholders
held on June 21, 2022 to be ¥444,000 thousand (excluding the employee salary portion). The number of eligible Directors
was 11, according to the resolution.
3. The maximum amount of remuneration for Auditors was resolved at the 109th Ordinary General Meeting of Shareholders
held on June 28, 2006 to be ¥4,500 thousand on a monthly basis.
4. The amount of remuneration, etc. includes the amount paid during the term of office of one Director who retired at the endof the 125th Ordinary General Meeting of Shareholders held on June 21, 2022.

(3) Overview of the content of directors and officers liability insurance policy(i)

Scope of the insured
All Directors, Auditors, Executive Officers, and managerial employees of the Company(ii)

Summary of the insurance policy
This insurance policy covers damages, litigation expenses, etc. to be borne by the insured in the event ofclaims arising from actions taken (or inaction) in their role as an officer, etc. of the company, listed in (i).
However, measures are taken so that the appropriateness of the execution of duties by an officer, etc. is not
impaired by excluding the damages, etc. of officers themselves who engaged in bribery or other criminal
acts or intentionally committed illegal acts from the scope of coverage. The insurance premiums are all
paid by the Company.

(4) External Officers(i)Significant concurrent positions at other organizations and relationships between the Company and suchother organizations
Director Yoshiki Ueda serves concurrently as Outside Director (Audit and Supervisory Committee
Member) of THK CO., LTD. There are no special relationships between the Company and THK CO., LTD.
Director Masatoshi Ozawa serves currently as Outside Director of Okuma Corporation. There are no
special relationships between the Company and Okuma Corporation.
Director Yukako Uchinaga serves currently as Chairperson and Representative Director of Japan
Women’s Innovative Network (J-Win), Outside Director of Nippon Telegraph and Telephone Corporation
and Outside Director of Teijin Limited. There are no special relationships between the Company and eachcompany.
Auditor Toshiro Kojima serves currently as Executive Officer of Kyodo News Digital Co., Ltd. There areno special relationships between the Company and Kyodo News Digital Co., Ltd.
Auditor Kazuhiko Hasegawa serves currently as Outside Director (Audit and Supervisory Committee
Member) of The Takigami Steel Construction Co., Ltd. There are no special relationships between the
Company and The Takigami Steel Construction Co., Ltd.

(ii)

Major activities during the fiscal yeara) Attendance at Board of Directors meetings and Board of Auditors meetings- 28 -

Classification

Name

Attendance atBoard of Directors meetings

Attendance atBoard of Auditors meetings

Director

Yoshiki Ueda

16/16

―

Director

Masatoshi Ozawa

16/16

―

Director

Yasuhito Yamauchi

16/16

―

Director

Yukako Uchinaga

16/16

―

AuditorToshiro Kojima

16/16

16/16

AuditorKazuhiko Hasegawa

16/16

16/16

b) Statements at the meeting and summary of duties performed pertaining to the role expected as External
Director
Director Yoshiki Ueda provides advice and recommendations to ensure the adequacy andappropriateness of the decisions made by the Board of Directors with his extensive practical experienceand knowledge as a senior executive of a general trading company and a manager of a specialized
trading company.
Director Masatoshi Ozawa provides advice and recommendations to ensure the adequacy andappropriateness of the decisions made by the Board of Directors with his extensive experience andknowledge as a corporate manager.
Director Yasuhito Yamauchi provides advice and recommendations to ensure the adequacy andappropriateness of the decisions made by the Board of Directors with his extensive business experienceand knowledge of manufacturing as a manager of automobile manufacturers and automobile parts
manufacturers.
Director Yukako Uchinaga provides advice and recommendations to ensure the adequacy andappropriateness of the decisions made by the Board of Directors with her extensive practical experiencein the management of business involving telecommunications, education, and manufacturing, inaddition to her extensive knowledge in the information technology field and deep understanding ofdiversity.
Auditor Toshiro Kojima makes statements from an objective perspective to ensure the appropriatenessof the decisions made by the Board of Directors with his extensive business experience and expertisein risk control. In addition, he makes statements at the Board of Auditors meetings as deemed necessary.
Auditor Kazuhiko Hasegawa makes statements from an objective perspective to ensure theappropriateness of the decisions made by the Board of Directors with his extensive practical experiencein the management of listed companies and educational institution in addition to his broad knowledge
gained in financial-related operations. In addition, he makes statements at the Board of Auditors
meetings as deemed necessary.
(iii) Summary of details of limited liability agreement
The Company has entered into a limited liability agreement pursuant to Article 427, paragraph 1 of theCompanies Act with each External Director and External Auditor. Under the terms of the limited liability
agreement, their liability will be limited to a minimum amount stipulated by applicable laws andregulations.

- 29 -

4. Accounting Auditor(1) Name of the Accounting Auditor
Deloitte Touche Tohmatsu LLC(2) Amount of remuneration for the Accounting Auditor for the fiscal year(i)

Amount of remuneration for the Accounting Auditor for the fiscal year ¥44,000 thousand(ii)

Total amount of money and other economic benefits to be paidby the Company and its subsidiaries to the Accounting Auditor¥44,000 thousand

Notes: 1. In the audit contract between the Company and its Accounting Auditor, amount of remuneration paid
for audits by an Accounting Auditor under the Companies Act and amount of remuneration paid foraudits by an Accounting Auditor under the Financial Instruments and Exchange Act are not clearly
distinguished or practically separable. Therefore, the total amount of these payments is shown in (i)Amount of remuneration listed above.
2. The Board of Auditors verified and reviewed the validity of the results of audit, the contents of audit
plan, the performance status of duties of the Accounting Auditor, the basis for the calculation of theestimated amount of remuneration, and other factors in the previous fiscal year using the “Practical
Guidelines for Cooperation with Accounting Auditors” released by the Japan Audit & Supervisory
Board Members Association as a guide. As a result, the Board of Auditors has provided its consent
regarding the amount of remuneration for the Accounting Auditor, pursuant to Article 399, paragraph
1 of the Companies Act.
(3) Policy on decisions of dismissal or non-reappointment of Accounting Auditor
In the event that an Accounting Auditor is found to fall under any of the items of Article 340, paragraph 1 of
the Companies Act, the Board of Auditors shall dismiss the Accounting Auditor with the unanimous consent
of the Auditors. In this case, the Auditor selected by the Board of Auditors shall report such dismissal and thereason for such dismissal to the first General Meeting of Shareholders convened after the dismissal.
In addition to the above, the Board of Auditors shall propose not to reappoint the Accounting Auditor to theGeneral Meeting of Shareholders in the event that the Accounting Auditor is deemed to be unable to carry out
its duties appropriately due to the occurrence of an event that impairs its qualifications or independence.

- 30 -

5. Corporate structure and policies(1) Policy on decisions on dividends and other appropriation of surplus
The Company strives to increase corporate value by addressing social issues, and prioritizes strategic
investments necessary for sustainable growth, including research and development, capital investment, andmergers and acquisitions. In addition, our basic financial strategy is to continue to provide a stable return ofprofits to shareholders, and use the cash flow generated by our business activities for investments in the surface
finishing business and other growth businesses, as well as for shareholder returns.
With the recognition that distribution of profit to shareholders is one of our important management issues,
continuation of stable profit distribution is the basis of our financial strategy, together with strategic
investments. We will strive to maintain stable and continuous dividend payments at a certain level and expand
them by comprehensively taking into account our financial position and profit level, while consideringstrengthening our financial structure and management base from a medium- to long-term perspective.
With regard to the appropriation of surplus for the fiscal year under review, a year-end dividend will be ¥22
per share (date of commencement of payment: June 6, 2023) as resolved at the Board of Directors meeting
held on May 22, 2023. As a result, the amount of annual dividend, including the interim dividend of ¥14 pershare (date of commencement of payment: December 9, 2022), will be ¥36 per share, an increase of ¥10(dividend ratio of 30.6%) year on year.

- 31 -

Consolidated Balance Sheet(As of March 31, 2023)(Millions of yen with fractional amounts discarded)
Account

AmountAccount

AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Contract assets
Securities
Finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts

106,20335,491
10,18819,861
9,803
10,998
4,462
6,461
6,421
3,083
(568)

Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, equipment and vehicles
Land
Leased assets
Construction in progress
Other
Intangible assets
Goodwill
Leased assets
Other
Investments and other assets
Investment securities
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts

65,16329,82514,014
5,053
8,021
494
1,488
753
1,480
60
35
1,384
33,856
27,581
464
3,124
2,725
(40)

Total assets

171,367

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (andother officers)
Provision for product warranties
Provision for loss on orders received
Contract liabilities
Other
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Provision for retirement benefits for
directors (and other officers)
Retirement benefit liability
Asset retirement obligations
Other
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive income

Amount39,71014,679
2,125
186
1,965
1,827
115
228
431
12,0896,060
19,901
12,831
355
5,096
514
535
38
529
59,612
94,3505,752
6,310
84,369(2,082)
11,429Valuation difference on available-for-salesecurities

7,893

Foreign currency translation adjustment

2,616

Remeasurements of defined benefit plans
Non-controlling interests
Total net assets
Total liabilities and net assets

919
5,975
111,755
171,367- 32 -

Consolidated Statement of Income(From April 1, 2022 to March 31, 2023)(Millions of yen with fractional amounts discarded)
Account

AmountNet sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Foreign exchange gains
Refund of social contributions for past fiscal years
Other
Non-operating expenses
Interest expenses
Expenses related to COVID-19
Donations
Other
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Extraordinary losses
Loss on sale of non-current assets
Loss on disposal of non-current assets
Impairment losses
Loss on valuation of investment securities
Profit before income taxes
Income taxes - current
Income taxes - deferred
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent- 33 -

106,381
77,78628,59426,352
2,242
310
704
109
172
322
378
128
45
31
81

32
5,335
0
5
192
43
2,524
145

1,997

287
3,951

5,367

241
9,076
2,670
6,406
219
6,187

Consolidated Statement of Changes in Equity(From April 1, 2022 to March 31, 2023)(Millions of yen with fractional amounts discarded)
Shareholders’ equity
Share capital
Balance at beginning of period

5,752

Capital surplus

Retainedearnings

Treasury shares

Total
shareholders’equity79,622(1,501)

90,183

6,310

Changes during period
Dividends of surplus(1,429)(1,429)Profit attributable to owners ofparent

6,187

6,187

Purchase of treasury shares

(621)

(621)

40

29

Disposal of treasury shares(11)

Transfer to capital surplus fromretained earnings

11

(11)

–

–

4,747

(580)

4,166

5,752

6,310

84,369(2,082)

94,350Noncontrollinginterests

Total net
assets5,547

109,641–

Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Accumulated other comprehensive income

Balance at beginning of period

Valuationdifference on
available-forsale securities

Foreigncurrencytranslation
adjustment

12,697300

Total
Remeasureaccumulated
ments ofother
definedcomprehensive
benefit plansincome912

13,910Changes during period
Dividends of surplus(1,429)Profit attributable to owners ofparent6,187

Purchase of treasury shares(621)

Disposal of treasury shares

29

Transfer to capital surplus fromretained earnings–

Net changes in items other thanshareholders’ equity(4,804)2,316

7(2,480)427(2,052)

Total changes during period(4,804)2,316

7(2,480)

427

2,113

Balance at end of period

7,893

2,616

919

11,4295,975

111,755- 34 -

Non-consolidated Balance Sheet(As of March 31, 2023)(Millions of yen with fractional amounts discarded)
Account
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims operating
Accounts receivable - trade
Contract assets
Securities
Finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts

Non-current assets
Property, plant and equipment
Buildings
Structures
Machinery and equipment
VehiclesTools, furniture and fixtures
Land
Leased assets
Construction in progress
Intangible assets
SoftwareLeased assets
Other
Investments and other assets
Investment securities
Shares of subsidiaries and associates
Long-term loans receivable
Prepaid pension costs
Other
Allowance for doubtful accounts

AmountAccount

60,18915,6502,582
5,270
11,134
5,172
10,998
1,816
2,024
1,708
4,168
(337)

53,347
16,065
8,210
480
2,682
5
338
3,990
85
272
433
350
16
66
36,84822,073
11,548
1,322
1,464
595
(156)

Liabilities
Current liabilities
Notes payable - trade
Electronically recorded obligations operating
Accounts payable - trade
Short-term borrowings
Lease liabilities
Accounts payable - otherAccrued expenses
Income taxes payable
Contract liabilities
Provision for bonuses
Provision for product warranties
Provision for loss on orders received
Provision for loss on guarantees
Other
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Asset retirement obligations
Other
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Legal capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for tax purpose reduction
entry of non-current assets
Reserve for cancellation of shares
General reserve
Retained earnings brought forward
Treasury shares
Valuation and translation adjustments
Valuation difference on available-for-salesecurities

Total assets

113,536- 35 -

Total net assets
Total liabilities and net assets

Amount21,792
482
5,290
4,013
792
50
233
1,789
1,683
4,263
1,233
130
46
1,011
772
15,732
12,700
60
2,603
38
330
37,52568,294
5,752
6,195
6,195
58,4291,438
56,991217
1,600
36,50018,673(2,082)
7,716
7,716
76,011
113,536

Non-consolidated Statement of Income(From April 1, 2022 to March 31, 2023)(Millions of yen with fractional amounts discarded)
Account

AmountNet sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rental income
Other
Non-operating expenses
Interest expenses
Donations
Provision of allowance for doubtful accounts
Rental costs
Provision for loss on guarantees
Other
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Gain on extinguishment of tie-in shares
Extraordinary losses
Loss on disposal of non-current assets
Loss on valuation of investment securities
Loss on valuation of shares of subsidiaries and associates
Profit before income taxes
Income taxes - current
Income taxes - deferred
Profit57,67442,568
15,105
15,132
(27)
67
1,329
112
141
47
31
119
49
46
45

1
5,335
275
3
43
202
1,737
(217)

- 36 -

1,651

339
1,284

5,612

248
6,647
1,519
5,127

Non-consolidated Statement of Changes in Equity(From April 1, 2022 to March 31, 2023)(Millions of yen with fractional amounts discarded)
Shareholders’ equity
Capital surplus

Balance at beginning of
periodChanges during period
Reversal of reserve
for tax purpose
reduction entry of
non-current assets
Dividends of surplus
ProfitPurchase of treasury
shares
Disposal of treasury
sharesTransfer to capitalsurplus fromretained earnings
Net changes in items
other than shareholders’equityTotal changes during
periodBalance at end of
periodRetained earnings
Other retained earnings
Reserve fortax purpose Reserve for
reduction
cancellentry ofation ofnon-current shares
assetsSharecapitalLegalcapitalsurplus

OthercapitalsurplusTotal
capitalsurplusLegalretainedearnings

5,752

6,195

–

6,195

1,438

221

Total
retainedearnings

36,50014,981

54,7414–(1,429)(1,429)

5,127

5,127

(11)

(11)

11

11

(11)

(11)

–

–

–

–

–

(4)

–

–

3,691

3,687

5,752

6,195

–

6,195

1,438

217

1,600

36,50018,67358,429TreasurysharesProfitPurchase of treasury
shares
Disposal of treasury
sharesTransfer to capitalsurplus fromretained earnings
Net changes in items
other than shareholders’equityTotal changes during
periodBalance at end of
periodRetainedearnings
brought
forward(4)

Valuation and translation
adjustments
Valuation
Total
Total
difference on valuation
shareholders’ availableandequityfor-saletranslation
securities adjustments

Shareholders’ equity

Balance at beginning of
periodChanges during period
Reversal of reserve
for tax purpose
reduction entry of
non-current assets
Dividends of surplus

1,600

Generalreserve(1,501)

65,187

12,491

12,491

Total net
assets77,679––(1,429)(1,429)

5,127

5,127

(621)

(621)

(621)

40

29

29

–

–
(4,774)(4,774)(4,774)

(580)

3,106

(4,774)(4,774)(1,668)(2,082)

68,294

7,716

7,716

76,011- 37 -