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, 2023
(Based on Japanese GAAP)
August 9, 2023
Company name:
PUNCH INDUSTRY CO., LTD.
Stock exchange listing: Tokyo
Stock code:
6165
URL https://www.punch.co.jp/ir/
Representative:
Chief Executive Officer
Inquiries:
Chief Financial Officer
Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

Tetsuji Morikubo
Takao Murata
August 10, 2023–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

NoNo

TEL 03-5753-3130(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2023 (from April 1, 2023 to June 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%Three months ended June 30, 2023
9,442
(7.7)
98 (86.0)
338 (51.5)
119 (72.1)
Three months ended June 30, 2022
10,23410.3
705 (11.4)
698(8.3)
427 (18.7)
Earnings per share

Diluted earnings per share

Yen
4.88
19.32

Three months ended June 30, 2023
Three months ended June 30, 2022

Yen
4.87
19.13

(2) Consolidated financial position
Total assets

Net assets

Millions of yen
29,51830,455

As of June 30, 2023
As of March 31, 2023

Equity ratio

Millions of yen
19,25019,052

%
65.1
62.4

2. Cash dividends
1st quarter-end

Annual dividends per share
2nd quarter-end
3rd quarter-end
Fiscal year-end

Yen––

Year ended March 31, 2023
Year ending March 31, 2024
Year ending March 31, 2024 (Forecast)

Total

Yen
6.50

Yen–

Yen
13.00

Yen
19.50

10.00

–

10.30

20.30

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

Net sales
Millions of yen
Six months ending
September 30, 2023
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen

19,250(11.2)

330(78.5)620(59.3)120(86.8)

4.91

37,600(12.1)

750(69.2)

1,000(58.2)

100(92.8)

4.09

1

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

NoNo
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, 2023

24,622,400 shares As of March 31, 2023

24,622,400 shares

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

191,439 shares As of March 31, 2023

191,339 shares

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

24,431,059 shares Three months ended June 30, 2022

2

22,140,597 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits

As of June 30, 2023

5,212

4,157

Notes receivable - trade
Accounts receivable - trade
Merchandise and finished goods
Work in process

1,745
9,632
2,851
658

1,965
9,346
2,813668

Raw materials and supplies
Other
Allowance for doubtful accounts

1,531
484
(39)

1,543
713
(44)

Total current assets

22,077

21,163

Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

6,157

6,229

(4,386)(4,463)

Buildings and structures, net

1,771

1,765

Machinery, equipment and vehicles
Accumulated depreciation17,405(13,513)

17,631(13,753)

3,892

3,877

2,732
(2,273)

2,778(2,326)

Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation

459

451

Land

Tools, furniture and fixtures, net

829

830

Construction in progress
Other
Accumulated depreciation

161
466
(265)

208
492
(297)

200

194

7,314

7,327

466
228

454
212

Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other

695

667

Investments and other assets
Investments and other assets
Allowance for doubtful accounts

Total intangible assets

404
(36)

392
(32)

Total investments and other assets

367

360

8,377

8,355

30,45529,518

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2023

As of June 30, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating

2,667
999

2,412
981

Short-term borrowings
Current portion of bonds payable
Current portion of long-term borrowings
Income taxes payable

1,300
10728
396

1,200
10680
314

Provision for bonuses
Other379
2,698391
2,180

Total current liabilities

9,180

8,169

Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other

675
1,243
303

554
1,243
300

Total non-current liabilities

2,222

2,098

Total liabilities

11,403

10,268

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

3,406
2,967
10,101
(94)

3,406
2,967
9,903
(94)

16,381

16,182

2,737
(111)

3,117
(98)

2,626

3,019

20
2320
27

19,052

19,25030,45529,518

Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
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)(Millions of yen)Three months ended
June 30, 2022

Three months ended
June 30, 2023

Net sales

10,234

9,442

Cost of sales

7,343

7,026

Gross profit

2,891

2,416

Selling, general and administrative expenses

2,185

2,317

Operating profit

705

98

Non-operating income
Interest income1313

Foreign exchange gains
Other–
24

192
51

Total non-operating income

38

257

1131213–3

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

45

16698

338

Extraordinary income
Gain on sale of non-current assets

24

Total extraordinary income

24555

3118

Ordinary profit

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

60

121

Profit before income taxesTotal extraordinary losses

640

222

Income taxes - current
Income taxes - deferred

171
39

955

Total income taxes

210

100

Net Profit

429

121

22427

119

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

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)Three months ended
June 30, 2022
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, 2023
429

121

1,123

381

(29)

12

1,094

393

1,524

515

1,520

511

33