Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Consolidated Financial Results
for the Six Months Ended September 30, 2023
(Under Japanese GAAP)
October 31, 2023
Company name:
EIZO Corporation
Stock exchange listing: Tokyo
Stock code:
6737
URL https://www.eizo.co.jp/
Representative:
President
Director, Executive Operating Officer, andInquiries:
Senior Manager, Accounting & Finance, &Investor Relations
Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:Yoshitaka Jitsumori
Manabu AriseTEL

076-275-4121

November 9, 2023
November 30, 2023
Yes
Yes(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2023 (from April 1, 2023 to September 30, 2023)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Six months ended September 30, 2023
37,185
1.7
1,636 (26.0)
3,203
27.7
2,158 (31.0)
Six months ended September 30, 2022
36,566 (16.4)
2,212 (66.5)
2,508 (64.3)
3,127 (39.3)(Note) Comprehensive income
For the six months ended September 30, 2023: ¥6,571million [ – %]For the six months ended September 30, 2022: ¥381 million[ (95.9) %]Earnings per share

Diluted earnings per share

Yen
104.89148.16Six months ended September 30, 2023
Six months ended September 30, 2022

Yen––(2) Consolidated financial position

As of September 30, 2023
As of March 31, 2023
(Reference) Equity
As of September 30, 2023:
As of March 31, 2023:

Total assets

Net assets

Millions of yen
163,340
155,935¥125,832 million¥120,580 million

Millions of yen
125,832
120,580

Equity ratio

Net assets per share%77.0
77.3

Yen
6,115.50
5,861.22

2. Cash dividends
Annual dividends per share

Year ended March 31, 2023
Year ending March 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
60.00
100.00

Yen–

Yen
65.00

Yen
125.00–100.00200.00Year ending March 31, 2024 (Forecast)(Note) Revisions to the forecast of cash dividends most recently announced: None

1Total3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
81,500
0.8
5,100
2.0
7,200
17.5
5,100 (13.0)
247.87(Note) Revisions to the forecasts of consolidated financial results most recently announced: Yes*Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
NoNo
No
No

Changes in accounting policies due to other reasons:
Changes in accounting estimates:
Restatement of prior period financial statements:(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2023

21,981,160 shares As of March 31, 2023

21,981,160 shares

Number of treasury shares at the end of the period
As of September 30, 2023

1,405,174 shares As of March 31, 2023

1,408,606 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2023

20,573,904 shares Six months ended September 30, 2022

21,105,489 shares*Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
*Proper use of earnings forecasts, and other special matters(Notice concerning forward-looking statements)
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. As such, they do not constitute the Company’s guarantee that such results
would be achieved. Actual business and other results may differ substantially due to various factors.
(Explanatory material for financial results)
Explanatory material for financial results is disclosed through TDnet as well as posted on the Company’s website on October 31, 2023.

2Quarterly consolidated financial statements
Consolidated balance sheets
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, andcontract assets
Electronically recorded monetary claims operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
OtherTotal investments and other assets
Total non-current assets
Total assets
LiabilitiesCurrent liabilities
Accounts payable - trade
Short-term borrowings
Income taxes payable
Provision for bonuses
Provision for product warranties
OtherTotal current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Provision for recycling
Retirement benefit liability
OtherTotal non-current liabilities
Total liabilities

3(Millions of yen)
As of September 30, 2023

9,557

14,04618,98014,717

1,680

1,811

17,5382,191
28,2891,765(100)
79,904

21,471
1,994
27,886
1,331(94)
83,16521,988748

22,661736

52,1901,104
53,29476,031
155,935

56,018758
56,77680,175
163,340

6,897
1,575
1,074
1,686
2,031
6,452
19,717

4,371
8,075
852
1,420
2,093
4,565
21,377

947

948

71

71

580
2,598
11,44015,63835,355550
2,603
11,955
16,13037,507

As of March 31, 2023
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecuritiesForeign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4(Millions of yen)
As of September 30, 2023

4,425
4,313
83,896(3,998)88,6384,425
4,320
84,718(3,988)89,47628,851

31,341

2,599
491
31,942
120,580
155,935

4,604
409
36,355
125,832
163,340

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Six months ended
Six months ended
September 30, 2022
September 30, 2023
Net sales
36,56637,185
Cost of sales
24,64924,894Gross profit
11,916
12,291
Selling, general and administrative expenses
9,704
10,654
Operating profit
2,212
1,636
Non-operating income
Interest income
67
Dividend income
548
583
Foreign exchange gains
–
866
Other
91
201
Total non-operating income
646
1,657
Non-operating expenses
Interest expenses
1143
Foreign exchange losses
324–
Rental expenses on real estate–35
Other
14
12
Total non-operating expenses
35091
Ordinary profit
2,508
3,203
Extraordinary income
Gain on sale of investment securities
1,943–
Total extraordinary income
1,943–
Extraordinary losses
Loss on retirement of non-current assets–
16
Loss on sale of investment securities
5–
Total extraordinary losses
516
Profit before income taxes
4,446
3,186
Income taxes - current
1,230
1,228
Income taxes - deferred
88(199)Total income taxes
1,318
1,028
Profit3,127
2,158
Profit attributable to owners of parent
3,127
2,158

5Consolidated statements of comprehensive income (cumulative)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive
incomeattributabletonon-controlling interests

6

Six months ended
September 30, 2022
3,127(Millions of yen)Six months ended
September 30, 2023
2,158

(4,269)1,582(57)(2,745)
381

2,490
2,004
(81)
4,413
6,571

381

6,571––

Consolidated statements of cash flows(Millions of yen)Six months ended
September 30, 2023

Six months ended
September 30, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in provisions
Increase (decrease) in retirement benefit liability
Interest expenses
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment andintangible assets
Purchase of short-term and long-term investment
securities
Proceeds from sale and redemption of short-term andlong-term investment securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Purchase of treasury shares
Dividends paid
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

7

4,446
1,079(425)(152)
11(1,938)
8,019(11,297)
1,269(1,769)
(756)
556
(13)
(2,506)(2,720)

3,186
1,280
(325)
(125)
43–
4,705
(1,308)(3,319)(1,955)
2,182
597
(51)
(1,258)
1,470

(826)

(2,129)

(1)

(301)

2,604

49

3
1,780

(22)
(2,403)

–
(69)
(105)
(2,061)(1,279)(3,516)

6,500
(76)
(158)
–
(1,337)
4,927

374

494

(4,082)
22,38718,305

4,488
9,557
14,046