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.

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2022
(Based on Japanese GAAP)
August 9, 2022
Company name:
PUNCH INDUSTRY CO., LTD.
Stock exchange listing: Tokyo
Stock code:
6165
URL http://www.punch.co.jp/ir/
Representative:
Chief Executive Officer
Tetsuji Morikubo
Inquiries:
Chief Financial OfficerTakao Murata
Scheduled date to file Quarterly Securities Report:
August 10, 2022
Scheduled date to commence dividend payments:–Preparation of supplementary material on quarterly financial results: No
Holding of quarterly financial results meeting:
NoTEL

03-5753-3130(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)(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%Three months ended June 30, 2022
10,23410.3
705 (11.4)
698(8.3)
427 (18.7)
Three months ended June 30, 2021
9,278
29.4
796–
761–
526
–
Earnings per share

Diluted earnings per share

Yen
19.32
24.13

Three months ended June 30, 2022
Three months ended June 30, 2021

Yen
19.13
24.00

(2) Consolidated financial position
Total assets
As of June 30, 2022
As of March 31, 2022

Net assets

Millions of yen29,748
28,774Equity ratio

Millions of yen
17,717
16,307

%
59.4
56.5

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
––

Yen
4.00

Yen–

Yen
9.00

Yen
13.00

6.50

–

6.50

13.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
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
Six months ending
21,70011.1
1,530 (13.5)
1,520 (12.4)
850 (32.5)
37.94
September 30, 2022
Full year
44,300
12.6
3,100
1.9
3,070
2.1
1,850(9.3)
82.57

1

4. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(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:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:
Restatement of prior period financial statements:

No
No
No

(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022

22,532,400 shares As of March 31, 2022

22,332,400 shares

Number of treasury shares at the end of the period
As of June 30, 2022

275,868 shares As of March 31, 2022

275,868 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2022

22,140,597 shares Three months ended June 30, 2021

221,818,994 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes receivable - tradeAccounts receivable - trade
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
Buildings and structures
Accumulated depreciation

As of June 30, 2022

4,816,271
2,043,258
9,191,812
2,408,754
813,141
1,569,159
485,384(48,002)4,396,066
1,792,674
9,879,777
2,607,826
740,217
1,747,617
812,557(53,536)

21,279,780

21,923,201

5,905,167(4,140,358)

6,096,709(4,248,725)

Buildings and structures, net

1,764,809

1,847,984

Machinery, equipment and vehicles
Accumulated depreciation

16,310,582(12,703,869)

16,982,927(13,256,482)

3,606,712

3,726,445

2,514,054(2,081,516)

2,645,862(2,196,153)

432,538

449,708

778,847
168,440
392,570(131,311)

781,589
280,953456,679(183,588)

261,259

273,091

7,012,607

7,359,772

177,903

181,675

177,903

181,675

317,431(13,623)

299,298(15,019)

Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
LandConstruction in progress
OtherAccumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investments and other assets
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

3

303,807284,279

7,494,318

7,825,727

28,774,098

29,748,928

(Thousands of yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for directors' bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Provision for bonuses
Provision for directors' bonuses
Other

As of June 30, 2022

2,738,725
1,078,059
1,774,655
710,978
384,126
400,265
17,183
2,897,059

2,652,606
1,131,577
1,571,820
861,948
393,030
434,235–
2,306,680

10,001,052

9,351,898

907,890
1,145,220––

1,062,683
1,195,074
1,021
4,086

412,726

416,298

2,465,836

2,679,163

Total liabilities

12,466,888

12,031,061

Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares

2,944,776
2,512,189
9,057,592(136,301)

2,987,581
2,574,844
9,266,989(136,301)

14,378,256

14,693,114

1,962,065(75,761)

3,084,619(105,170)

Total non-current liabilities

Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Remeasurements of defined benefit plans

1,886,303

2,979,449

Share acquisition rights

Total accumulated other comprehensive income

26,13025,670Non-controlling interests

16,518

19,632

16,307,209

17,717,866

28,774,098

29,748,928

Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended
June 30, 2021

Three months ended
June 30, 2022

Net sales
Cost of sales

9,278,668
6,521,748

10,234,380
7,343,069

Gross profit

2,756,919

2,891,311

Selling, general and administrative expenses

1,960,186

2,185,427

Operating profit

796,733

705,884

Non-operating income
Interest income
Gain on sale of scraps
Other

10,538
5,685
14,39013,8109,057
15,33930,61438,206

16,621
42,18911,83031,419

6,769

2,398

Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses

65,58145,648

761,765

698,441

Extraordinary income
Gain on sale of non-current assets

917

2,484

Total extraordinary income

917

2,484

1,244
30,348

5,475
55,102

Ordinary profit

Extraordinary losses
Loss on sale and retirement of non-current assets
Impairment losses

31,59260,578

Profit before income taxes

Total extraordinary losses

731,090

640,348

Income taxes - current
Income taxes - refund
Income taxes - deferred

168,316(2,097)37,654

175,480(4,085)
39,159Total income taxes

203,873

210,554

Net Profit

527,217429,793

774

2,037

526,442427,756

Profit attributable to non-controlling interests
Profit attributable to owners of parent

5Consolidated statements of comprehensive income (cumulative)(Thousands of yen)Three months ended
June 30, 2021
Net profit
Other comprehensive income
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 of parent
Comprehensive income attributable to non-controllinginterests

6

Three months ended
June 30, 2022

527,217429,793806,243
3,909

1,123,630(29,408)

810,153

1,094,221

1,337,370

1,524,015

1,336,154

1,520,901

1,215

3,113