TRANSLATED
February 14, 2024

Consolidated Financial Results
for the Fiscal Year Ended December 31, 2023
(January 1, 2023 to December 31, 2023)
Company name:
Stock code:
Stock exchange listing (Section):
Head office:
URL:
President:
Contact:

SIIX Corporation
7613
Tokyo Stock Exchange, (Prime Market)
Osaka, Japan
https://www.siix.co.jp
Koji Yanase
Seiji Ono
Director, Executive Officer and General Manager,
Finance and Accounting Department+81-6-6266-6415
March 27, 2024
March 28, 2024
March 27, 2024

Telephone:
Annual Meeting of Shareholders:
Scheduled date of payment of cash dividends:
Scheduled date of filing financial statement:(Amounts rounded down to million yen)

1. Consolidated Financial Results (January 1, 2023 – December 31, 2023)(1) Consolidated Results of Operations(The percentages in the table below represent changes from the previous fiscal year)
Net sales

Operating income

YoY change(%)

Million yen

Ordinary income

YoY change(%)

Million yen

YoYchange (%)

Million yen

Year ended Dec. 2023

309,768

11.8

12,25437.2

11,84942.1

Year ended Dec. 2022

277,031

22.1

8,929

80.2

8,337

40.5

Profit attributable toowners of parent

Net income per share (basic)

Net income per share (diluted)

Yen

Million yen

YoY change(%)

Million yen
Year ended Dec. 2023

8,185

72.9

173.56173.38Year ended Dec. 2022

4,733

3.8

100.11

99.98

Return on equity

Ratio of ordinary income tototal assets

Ratio of operating income to
net sales%%%Year ended Dec. 2023

9.9

5.6

4.0

Year ended Dec. 2022

6.6

4.4

3.2

(note) Comprehensive income
Year ended December 2023:
Year ended December 2022:(Reference) Equity in net earnings (losses) of affiliatesYear ended December 2023:
Year ended December 2022:

13,741million yen (y/y 10.8%)
12,405 million yen (y/y 9.6%)
26million yen-7million yen(2) Consolidated Financial Position
Total assets

Net assets

Capital-to-asset ratio

Net assets per share

Million yen

Million yen%

Yen

Year ended Dec. 2023

216,838

89,54541.1

1,891.52

Year ended Dec. 2022

205,170

77,38937.5

1,625.55(Reference) Stockholders’ equity:Year ended December 2023:
Year ended December 2022:

89,041 million yen
76,891 million yen―1―TRANSLATED(3) Consolidated Cash FlowsNet cash provided by (used in)Operating activities

Investing activities

Financing activities

Million yen

Million yen

Million yen

Cash and cash
equivalents at fiscalyear end
Million yen

Year ended Dec. 2023

19,796(10,392)(5,989)18,059Year ended Dec. 2022

5,567

(8,892)

6,676

13,652

2. Dividends
Annual dividends per share(Base date)

1st quarter

Year ended Dec. 2022

―

15.00

―

16.00

31.00

Year ended Dec. 2023

―

16.00

―

28.00

44.00

Year ended Dec. 2024
(forecasts)

―

24.00

―24.0048.00(Base date)

2nd quarterYen

3rd quarter

Term-end
Yen

Annual dividends
Yen

Amount of dividend (for the year)

Dividend ratio to net income(consolidated)

Dividend ratio to net assets(consolidated)

Million Yen%%

Year ended Dec. 2022

1,466

31.0

2.1

Year ended Dec. 2023

2,071

25.4

2.5

Year ended Dec. 2024
(forecasts)───

3. Consolidated Business Performance Forecasts for the Year Ending December 2024
(January 1, 2024 – December 31, 2024)(The percentages in the table below represent changes from the previous fiscal year)
Net sales
Million yen
Full year

Operating income

YoY change(%)

330,000

Profit attributable to owners ofparent
Million yen
Full year

8,400

YoY change(%)

Million yen

6.5

Ordinary income

13,200

7.7

Million yen
12,700

YoYchange (%)
7.2

Net income per share (basic)

YoY changeYen

(%)

2.6

178.44(note) The company discloses consolidated business performance for full year only because the company manages business performanceon an annual basis.

―2―TRANSLATED＊ Note(1) Transfer of important subsidiaries during the period (transfer of specific subsidiaries in association with changes in thescope of consolidation):Transfer
Exclusion:
SIIX Logistics Phils., Inc.
SIIX COXON PRECISION PHILS., INC.
(2) Changes in accounting policy and accounting estimate, and restatement related to consolidated financial statements(i) Changes associated with the revision of accounting standards: None(ii)Changes other than those described in (i):None(iii)Changes in accounting estimate:
Change(iv)Restatement:
None(3) Number of outstanding shares (common shares)(i) Number of outstanding shares at the end of the fiscal year (including treasury shares):Year ended December 2023:
Year ended December 2022:

50,400,000 shares
50,400,000 shares(ii) Number of treasury shares at the end of the fiscal year:
Year ended December 2023:
Year ended December 2022:

3,325,625 shares
3,097,775 shares(iii)Average number of shares outstanding:Year ended December 2023:
Year ended December 2022:

47,163,380 shares
47,288,750 shares(Reference)

1. Non-consolidated Financial Results (January 1, 2023– December 31, 2023)(1) Non-consolidated Results of Operations(The percentages in the table below represent changes from the previous fiscal year)
Net sales

Operating income

Ordinary income

Million yen

YoYchange (%)

YoYchange (%)

Year ended Dec. 2023

113,320

14.1

1,865

60.5

4,411

71.3

Year ended Dec. 2022

99,298

7.2

1,162

―

2,576

(71.8)

Million yen

Net income

YoY change

Million yen(%)

Net income per share (basic)

Net income per share (diluted)

Yen

Yen

Million yen

YoYchange (%)

Year ended Dec. 2023

1,898

―

40.26

40.22

Year ended Dec. 2022

(718)―(15.20)―(2) Non-consolidated Financial Position
Total assets

Net assets

Capital-to-asset ratio

Net assets per share

Million yen

Million yen%

Yen

Year ended Dec. 2023

72,63818,84025.9

399.00Year ended Dec. 2022

71,943

18,81226.1

396.29(Reference) Stockholders’ equity:Year ended December 2023: 18,782 million yen
Year ended December 2022: 18,745 million yen*These financial statements have not been prepared for the purpose of review procedures.
*Explanations and other special notes concerning the appropriate use of business performance forecasts
The consolidated business performance forecasts given above are based on the information available at the current time andassumptions of supposable market trends, etc., and thus may greatly differ from future performance for a variety of future reasons.

―3―TRANSLATED■ Consolidated Financial Statements(1) Consolidated Balance Sheets(JPY in millions)
As of Dec. 31, 2022

As of Dec. 31,2023

AssetsCurrent assets
Cash and deposits

13,793

18,241

Notes and accounts receivable - trade, and contract assets

55,09160,432Merchandise and finished goods

27,73825,379Work in process

2,264

2,966

Raw materials and supplies

43,42543,562

Other

8,027

7,117

Allowance for doubtful accounts

(64)

(79)

150,275

157,62131,471

34,827

Accumulated depreciation(12,957)(14,334)

Buildings and structures, net

18,513

20,493

Machinery, equipment and vehicles

56,08364,244

Accumulated depreciation(40,343)(47,257)

Machinery, equipment and vehicles, net

15,73916,986

4,632

5,353

Accumulated depreciation(3,588)(3,983)Tools, furniture and fixtures, net

1,043

1,370

Land

4,644

4,842

Construction in progress

2,867

2,911

Other

4,154

4,454Accumulated depreciation(1,605)(2,031)Other, net

2,549

2,423

45,35849,026

Software

2,178

2,042

Other

342

75

2,520

2,118

Investment securities

2,227

2,306

Investments in capital

1,015

1,214

Long-term loans receivable

65

50

Assets for retirement benefits

322

473

Deferred tax assets

2,189

2,464

Other

1,298

1,653

Allowance for doubtful accounts

(103)

(91)

Total Investments and other assets

7,015

8,070

54,894

59,216205,170

216,838

Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structuresTools, furniture and fixtures

Total property, plant and equipment
Intangible assets

Total intangible assets
Investments and other assets

Total noncurrent assets
Total assets―4―TRANSLATED(JPY in millions)

As of Dec. 31, 2022

As of Dec. 31, 2023

Liabilities
Current liabilities
Accounts payable-trade

41,73343,262

Short-term loans payable

36,13628,103

Income taxes payable

2,065

2,627

Contract liabilities

3,631

3,980

Other

13,031

10,680Total current liabilities

96,59888,653

Bonds payable

10,00010,000Long-term loans payable

15,125

22,139642

809

Deferred tax liabilities

3,247

3,429

Other

2,167

2,258

Total noncurrent liabilities

31,182

38,638

127,780

127,292

Share capital

2,144

2,144

Capital surplus

5,594

5,581

Retained earnings

60,38967,273

Treasury shares(5,866)(6,185)

Total shareholders' equity

62,261

68,813347

138

14,276

20,1286(37)14,63020,228Subscription rights to shares

67

57

Non-controlling interests

430

446

77,38989,545205,170

216,838

Noncurrent liabilities

Liabilities for retirement benefits

Total liabilities
Net assets
Shareholders' equity

Accumulated comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Adjustment for retirement benefits
Total accumulated comprehensive income

Total net assets
Total liabilities and net assets―5―

TRANSLATED(2) Consolidated Statements of Income(JPY in millions)
1st Jan 2022
- 31st Dec 2022

1st Jan 2023
- 31st Dec 2023

Net sales

277,031309,768

Cost of sales

251,239

278,917Gross profit

25,79130,850

Selling, general and administrative expenses

16,862

18,595

Operating income8,929

12,254

Interest income

35550

Dividends income

46130

Share of profit of entities accounted for using equity method－26

Subsidy income

195

163

Gain on sales of goods

323

201

Gain on sales of scrap

203

210

Other

298

440

1,103

1,723

823

1,485

7－

Foreign exchange losses

483

155

Purchase of goods

172

69

Other

207

418

1,695

2,129

8,337

11,849Gain on reversal of share acquisition rights

03

Total extraordinary income

03

COVID-19 related loss

377－

Total extraordinary loss

377－

Income before income taxes

7,960

11,852

Income taxes-current

2,751

3,639

Income taxes-deferred

478

31

Total income taxes-current

3,229

3,671

Net Income

4,730

8,181

(3)

(4)

4,733

8,185

Non-operating income

Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method

Total non-operating expenses
Ordinary income
Extraordinary income

Extraordinary loss

Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent―6―

TRANSLATED

Consolidated Statements of Comprehensive Income(JPY in millions)
1st Jan 2022- 31st Dec 2022
Net Income

1st Jan 2023
- 31st Dec 2023
4,730

8,181

Valuation difference on available-for-sale securities

(181)

(209)

Foreign currency translation adjustment

7,823

5,733

Remeasurements of defined benefit plans

(52)

(27)

Equity equivalent of equity method affiliate

85

63

7,675

5,560

12,405

13,741

12,387

13,726

1815

Other comprehensive income

Total other comprehensive income
Comprehensive income(Content)
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests―7―TRANSLATED(3) Consolidated statements of changes in net assets
Previous year (1st Jan 2022 – 31st Dec 2022)(JPY in millions)Shareholders' equity

Balances on December 31, 2021

SharecapitalCapitalsurplusRetainedearnings

Treasuryshares

Total

2,144

5,630

57,074(5,945)58,902

Changes of items during theperiod
Dividends from surplus(1,418)(1,418)Net income attributable toowners of parent

4,733

4,733

(35)

Disposal of treasury shares
Net changes of items otherthan shareholders' equity
Total changes of items during
the period
Balances on December 31, 2022

79

43

00

―(35)

3,315

79

3,358

2,144

5,594

60,389(5,866)62,261

Accumulated other comprehensive income

Balances on December 31, 2021

Valuationdifference
on availablefor-salesecurities

Foreigncurrencytranslation
adjustment

Remeasurementsof defined
benefits plans

528

6,404

44

Total
Subscription
NonTotal net
accumulated
rights tocontrolling
assetsothersharesinterests
comprehensive
income
6,976

77

412

66,369Changes of items during theperiod
Dividends from surplus(1,418)Net income attributable toowners of parent

4,733Disposal of treasury shares

43

Net changes of items otherthan shareholders' equity
Total changes of items during theperiod(181)

7,872(37)

7,653

(10)

18

7,661(181)

7,872

(37)

7,653

(10)

18

11,020

Balances on December 31, 2022

347

14,276

6

14,63067

430

77,389―8―

TRANSLATEDCurrent year (1st Jan 2023– 31st Dec 2023)(JPY in millions)Shareholders' equity
CapitalRetained
Treasury
surplusearnings
sharesSharecapitalBalances on December 31, 2022

2,144

5,594

60,389(5,866)

Total
62,261

Changes of items during theperiod
Dividends from surplus(1,510)(1,510)Net income attributable toowners of parent

8,185

8,185

Purchase of treasury shares(12)

Disposal of treasury shares
Change in scope ofconsolidation
Change in scope of equity
methodNet changes of items otherthan shareholders' equity
Total changes of items during
the period
Balances on December 31, 2023

(361)

(361)

43

30

72

72

135

135

―

(12)

6,883

(318)

6,551

2,144

5,581

67,273(6,185)68,813

Accumulated other comprehensive income

Balances on December 31, 2022

Valuationdifference
on availablefor-salesecurities

Foreigncurrencytranslation
adjustment

Remeasurementsof defined
benefits plans

347

14,276

6

Total
Subscription
NonTotal net
accumulated
rights tocontrolling
assetsothersharesinterests
comprehensive
income14,63067

430

77,389Changes of items during theperiod
Dividends from surplus(1,510)Net income attributable toowners of parent

8,185

Purchase of treasury shares(361)

Disposal of treasury shares

30

Change in scope of
consolidation
Change in scope of equity
methodNet changes of items otherthan shareholders' equity
Total changes of items during theperiod
Balances on December 31, 2023

(0)330543310554189(209)5,794(74)5,510(9)155,516(209)

5,852

(44)

5,598(9)15

12,156

138

20,128(37)20,22857

446

89,545―9―TRANSLATED(4) Consolidated Statements of Cash Flows(JPY in millions)
1st Jan 2022
- 31st Dec 2022
Net cash provided by (used in) operating activities
Income before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Interest and dividends income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using equity method
Decrease (increase) in trade receivables and contract assets
Decrease (increase) in inventories
Decrease (increase) in consumption taxes refund receivable
Increase (decrease) in trade payables
Increase (decrease) in contract liabilities
Other
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investment activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Payments of loans receivable
Proceeds from collection of loans receivable
Proceeds from divestments
Purchase of investment securities
Proceeds from subsidy income
Other

1st Jan 2023
- 31st Dec 2023

7,960
7,714
9(81)
823
(895)
7(3,859)(9,213)
(145)
2,111
2,833
1,451
8,717

11,8528,928
13(681)
1,485
(530)
(26)
(2,741)
6,175
790
(362)
150
(1,192)
23,86182(735)(2,495)753(1,505)(3,313)

5,567

19,796(8,671)8(434)(40)
37
50－12035(9,997)
95(331)(39)
54－(300)
158(31)

Net cash provided by (used in) investment activities
Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term borrowings
Repayment of long-term loans borrowings
Purchase of treasury shares
Dividends paid
Other(8,892)(10,392)

2,136
12,728(6,257)－(1,418)(512)(9,681)
14,061(7,830)(361)(1,509)(668)

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

6,676985(5,989)
884

Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period

4,336
9,315

4,298
13,652

Increase in cash and cash equivalents from newly consolidated subsidiary
Cash and cash equivalents at end of period－13,652108
18,059―10―

TRANSLATED■Information of net sales, income or loss, assets, and other items by reportable segment
Previous year (1st Jan 2022 – 31st Dec 2022)
Reportable Segment
Japan

China

ASEANEurope

AmericasTotal(JPY in millions)
Consolidated
Adjustment
incomestatement(note 1)
(note 2)

Sales
Sales to third parties

50,62675,03986,42015,822

48,915

276,825206

277,031

Intersegment sales and transfers

48,672

21,654

22,575

1,509

13,950108,362(108,362)

―

Total

99,29896,693

108,995

17,33262,866385,187(108,155)

277,031

Segment income or loss

1,162

1,533

4,856(632)

2,276

9,196

(267)

8,929

Segment assets

74,46257,47673,062

14,713

34,665

254,380(49,210)205,170

Depreciation

449

2,634

2,722

618

1,126

7,550

163

7,714

The increase of property, plant andequipment and intangible assets

140

2,870

4,977

479

1,985

10,452393

10,845

Other(note 1) Adjustment is as following;
1. The amount of adjustment in sales to third parties, 206million yen, is sales in Corporate segment.
2. The amount of adjustment in inter-segment sales and transfer, -108,362 million yen, is the amount of elimination of internal transactions between segments.
3. The amount of adjustment in segment income, -267million yen, is the amount of elimination of internal transactions between segments.
4. The amount of adjustment in segment asset, -49,210million yen, is the amount of elimination of internal transactions between segments.
5. The amount of adjustment in depreciation, 163million yen, is the amount of elimination of internal transactions between segments.
6. The amount of adjustment in the increase of property, plant and equipment and intangible assets, 393million yen, is the amount of elimination ofinternal transactions between segments.
(note 2) Operating income or loss refers to elimination of intersegment transactions adjustment.

Current year (1st Jan 2023 – 31st Dec 2023)(JPY in millions)
Reportable Segment
JapanChina

ASEAN

EuropeAdjustment
Americas

Total(note 1)

Consolidated
incomestatement(note 2)

Sales
Sales to third parties

64,614

71,18592,65922,19558,508309,162605

309,768

Intersegment sales and transfers

48,70521,892

29,5691,379

14,636116,183(116,183)―

113,320

93,077122,228

23,57573,145425,346(115,578)

309,768

Segment income or loss

1,865

965

5,705

(678)

3,666

11,523731

12,254

Segment assets

77,14053,78477,545

21,661

32,612

262,744(45,906)

216,838

Depreciation

470

2,770

3,373

7491,345

8,710

218

8,928

The increase of property, plant andequipment and intangible assets

132

1,683

3,891

2,434

750

8,892

235

9,127

Total

Other

(note 1) Adjustment is as following;
1. The amount of adjustment in sales to third parties, 605million yen, is sales in Corporate segment.
2. The amount of adjustment in inter-segment sales and transfer, -116,183million yen, is the amount of elimination of internal transactions between segments.
3. The amount of adjustment in segment income, 731million yen, is the amount of elimination of internal transactions between segments.
4. The amount of adjustment in segment asset, -45,906million yen, is the amount of elimination of internal transactions between segments.
5. The amount of adjustment in depreciation, 218million yen, is the amount of elimination of internal transactions between segments.
6. The amount of adjustment in the increase of property, plant and equipment and intangible assets, 235million yen, is the amount of elimination ofinternal transactions between segments.
(note 2) Operating income or loss refers to elimination of intersegment transactions adjustment.

―11―