Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

July 10, 2023

Consolidated Financial Results
for the Nine Months Ended May 31, 2023
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:

Watts Co., Ltd.
Tokyo Stock Exchange2735
https://www.watts-jp.com/
Fumio Hiraoka, President and CEO
Hidehito Mori,
Executive Managing Director, Head of Corporate Planning OfficeTelephone:+81-6-4792-3280
Scheduled date to file quarterly securities report:
July 10, 2023
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended May 31, 2023 (from September 1, 2022 to May
31, 2023)(1) Consolidated operating results (cumulative)
Sales
Nine months ended(Percentages indicate year-on-year changes.)

Operating profit

Net income attributable toowners of parent

Recurring profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

May 31, 2023

44,431

2.2

370-59.1

372-62.3

306-40.9

May 31, 2022

43,476

13.4

905-37.8

988

-31.7

518

-48.4

Note: Comprehensive income

For the nine months ended May 31, 2023:
For the nine months ended May 31, 2022:
Net income
per share¥306 million¥571 million[-46.5%][-42.3%]

Diluted net income pershare

Nine months ended

YenYenMay 31, 2023

22.55

-May 31, 2022

38.44

-

(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

May 31, 2023

25,73912,045

46.8

August 31, 2022

25,60011,931

46.6

Reference:

EquityAs of May 31, 2023:
As of August 31, 2022:¥12,034 million¥11,927 million

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Yen

Yen-

0.00

-

15.00

15.00

-

0.00

15.00

15.00

Fiscal year ended
August 31, 2022
Fiscal year ending
August 31, 2023

Fiscal year-end

Fiscal year ending
August 31, 2023
(Forecast)

Total

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Forecast of consolidated financial results for the year ending August 31, 2023 (from September 1,2022 to August 31, 2023)(Percentages indicate year-on-year changes.)
Sales
Millions of yen

Full year

59,000Operating profit%

1.1

Millions of yen

400

Net income attributable toowners of parent

Recurring Profit
%

-59.9

Millions of yen

400

Net income
per share%

Millions of yen%

Yen-65.2

150

-80.8

11.05

Note: Revisions to the forecast of cash dividends most recently announced: Yes
For details of the revisions to the consolidated business forecasts, please refer to the "Notice Concerning Revisions to BusinessForecasts" announced on July 10, 2023.

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): Yes
Excluded: 1 company (Ontsu F.RETAIL Co., Ltd.)(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of May 31, 2023

13,898,800 shares

As of August 31, 2022

13,898,800 shares(ii) Number of treasury shares at the end of the period
As of May 31, 2023

318,292 shares

As of August 31, 2022

323,487 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscalyear)
Nine months ended May 31, 2023

13,579,034 shares

Nine months ended May 31, 2022

13,485,433 shares

Note: The Average number of shares outstanding during the period includes the Company’s shares held by the share issuance trustfor directors (FY8/23 Q3: - shares, FY8/22 Q3: 37,363 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
The forward-looking statements regarding future performance in this material are based on information
currently available to the Company and certain assumptions that the Company deems to be reasonable at thetime this report was prepared. Therefore, the Company does not make promises about the achievements.
Actual results may differ significantly from the forecasts due to various factors.