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 Six Months Ended March 31, 2020
(Based on Japanese GAAP)May 8, 2020
Company name:T. HASEGAWA CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

4958
URLPresident & COO

https://www.t-hasegawa.co.jp/Takao Umino

Inquiries:
Director & Executive Vice PresidentScheduled date to file Quarterly Securities Report:

Minoru Nakamura
May 14, 2020

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:

May 29, 2020
Yes

Holding of quarterly financial results meeting:

Yes

TEL

03-3241-1151(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended March 31, 2020 (from October 1, 2019 to March 31, 2020)(1) Consolidated operating results (cumulative)
Net sales
Six months ended March 31, 2020
Six months ended March 31, 2019
Note: Comprehensive income

Millions of yen
24,462
24,468Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
(0.0)
2,469
11.2
2,688
10.3
2,092
18.8
4.3
2,221
3.4
2,436
5.5
1,761
8.9

Six months ended March 31, 2020
Six months ended March 31, 2019

¥1,393 million [317.2%]¥333 million [(91.0)%]

Earnings per share

Diluted earnings per share

Yen
50.49
42.22

Six months ended March 31, 2020Six months ended March 31, 2019

Yen
50.31
42.11

(2) Consolidated financial position
Total assets
Millions of yen
111,315
113,863

As of March 31, 2020
As of September 30, 2019
Reference: Equity

Net assets

As of March 31, 2020
As of September 30, 2019

Equity ratio

Millions of yen
91,024
90,344

%
81.6
79.2

¥90,795 million¥90,148 million

2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

Yen
Year ended September 30, 2019–Year ending September 30, 2020–
Year ending September 30, 2020
(Forecast)
Note: Revision of cash dividend forecast most recently announced: Yes

Yen
17.00
18.00

1

3rd quarter-end

Fiscal year-end

TotalYen–Yen
18.00

Yen
35.00

–

20.00

38.00

3. Forecast of consolidated financial results for the year ending September 30, 2020 (from October 1, 2019 to September 30, 2020)

Net sales

Full year

Millions of yen
50,500Percentages 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
0.0
4,880
4.3
5,320
2.8
4,64012.6
112.76

Note: Revision of consolidated financial results forecast most recently announced: Yes
4. Notes(1) Changes in significant subsidiaries during the six months ended March 31, 2020(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoYes(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:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2020

42,708,154 shares As of September 30, 201942,708,154 shares

Number of treasury shares at the end of the period
As of March 31, 2020

1,257,319 shares As of September 30, 2019

1,257,206 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended March 31, 2020

41,450,911 shares Six months ended March 31, 2019

41,731,206 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
* Proper use of forecasts of financial results, and other special matters
The forward-looking statements, including the earnings forecasts, shown in this document are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize suchstatements. Actual results may differ substantially due to various factors.

2Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of September 30, 2019

As of March 31, 2020

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

15,73015,792

15,414
14,571

Securities
Merchandise and finished goods

7,999
7,236

10,9997,374Work in process
Raw materials and supplies

107
7,320

196
6,994

OtherAllowance for doubtful accounts

2,469(35)759(42)

Total current assets

56,62056,268

Buildings and structures, net
Other, net

16,127
12,69015,674
12,356

Total property, plant and equipment

28,81728,031

Non-current assets
Property, plant and equipment

Intangible assets
Goodwill

716

633

Other

3,461

3,379

Total intangible assets

4,177

4,013

Investment securities
Retirement benefit asset

22,68018

21,45519

Other
Allowance for doubtful accounts

1,598
(48)

1,577
(51)

Total investments and other assets

24,24823,001

57,24355,046

113,863

111,315

Investments and other assets

Total non-current assets
Total assetsLiabilities
Current liabilities
Notes and accounts payable - trade

5,401

4,890

Current portion of long-term borrowings
Income taxes payable

0
1,648

–
856

Provision for bonuses
Provision for bonuses for directors (and other officers)

1,296
61

900
–

Other

3,301

2,391

Total current liabilities

11,709

9,039

3,787
6,998

3,346
7,103

68
887

69
659

Non-current liabilities
Deferred tax liabilities
Retirement benefit liability
Asset retirement obligations
Long-term accounts payable - other
Other
Total non-current liabilities
Total liabilities

368

71

11,80911,251

23,51920,290(Millions of yen)
As of September 30, 2019

As of March 31, 2020

Net assets
Shareholders' equity
Share capital

5,364

5,364

Capital surplus
Retained earnings

7,297
67,5707,297
68,917

Treasury shares(1,856)(1,856)

Total shareholders' equity

78,37779,723

13,540(1,459)12,670(1,315)

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets

4(309)(283)

11,771

11,072

195

228

90,34491,024

113,863

111,315

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

March 31, 2019

March 31, 2020

Net sales
Cost of sales

24,46815,202

24,462
15,114Gross profit

9,265

9,348

Selling, general and administrative expenses

7,044

6,878

Operating profit

2,221

2,469Interest income
Dividend income

39153

49147

Other

5770

Total non-operating income

250

267

Interest expenses
Foreign exchange losses

08031

Other

25

15

Total non-operating expenses

3448

2,436

2,688–

320–

320

14–

Non-operating income

Non-operating expenses

Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes

14–

2,422

3,008

660

916

Profit

1,761

2,092

Profit attributable to owners of parent

1,761

2,092

5

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Six months ended

Six months ended

March 31, 2019

March 31, 2020
1,761

2,092

Valuation difference on available-for-sale securities
Foreign currency translation adjustment(1,200)
(252)

(869)
144

Remeasurements of defined benefit plans, net of tax

2425(1,427)(699)

Comprehensive income

Total other comprehensive income

333

1,393

Comprehensive income attributable toComprehensive income attributable to owners of parent

333

1,393

––

Comprehensive income attributable to non-controllinginterests

6

Segment Information
1. Six months ended March 31, 2019 (from October 1, 2018 to March 31, 2019)
Net sales and profit or loss by reporting segment(Millions of yen)
Reporting segment
Japan

Asia

USA

Total

Adjustment(Note 1)

Consolidated(Note 2)

Net sales
Sales to external customers
Inter-segment sales or transfers

17,743
377

3,946
106

2,777
62

24,468546－(546)

24,468－

Total

18,121

4,052

2,840

25,015(546)

24,468Segment profit or loss

1,955248(18)

2,185

35

2,221

Notes
1. The adjustments on segment profit or loss of 35 million yen include 33 million yen adjustments of elimination of internaltransactions between segments, 3 million yen adjustments of inventories related to inter-segment transactions,and negative 0 million yen for others.
2. Segment profit or loss is adjusted to operating income of consolidated quarterly statements of income.
2. Six months ended March 31, 2020 (from October 1, 2019 to March 31, 2020)
Net sales and profit or loss by reporting segment(Millions of yen)
Reporting segment
JapanAsiaUSA

Total

Adjustment(Note 1)

Consolidated(Note 2)

Net sales
Sales to external customers
Inter-segment sales or transfers

17,765
391

3,625
66

3,071
69

24,462
527

－
(527)

24,462－

Total

18,157

3,691

3,141

24,990(527)

24,462

Segment profit

1,879

276

283

2,440

29

2,469

Notes
1. The adjustments on segment profit of 29 million yen include 39 million yen adjustments of elimination of internal transactions
between segments, negative 7 million yen adjustments of inventories related to inter-segment transactions,and negative 2 million yen for others.
2. Segment profit is adjusted to operating income of consolidated quarterly statements of income.

7