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 Year Ended March 31, 2023
(Based on Japanese GAAP)May 12, 2023
Company name:

Origin Company, Limited

Stock exchange listing: Tokyo
Stock code:
Representative:

6513
URL https://www.origin.co.jp/Kazuhiro Seo, President

Contact:

Atsushi Akamatsu, Executive Officer and General Manager, Accounting DepartmentPhone:+81-48-755-9242
Scheduled date of ordinary general meeting of shareholders:June 29, 2023

Scheduled date to file Securities Report:

June 29, 2023

Scheduled date to commence dividend payments:

June 30, 2023

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

Yes
Yes

(for analysts and institutional investors)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(1) Consolidated operating resultsPercentages 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%
Year ended March 31, 2023
32,036
-1.0
574
-73.0
1,461
-48.4
365
-83.2
Year ended March 31, 2022
32,34724.8
2,128–
2,831–
2,180–
Note: Comprehensive income Year ended March 31, 2023
Year ended March 31, 2022

Earnings per share¥1,561 million [-54.6%]¥3,439 million [–%]
Profit attributable toOrdinary profit/total Operating profit/netowners ofassets
sales
parent/equity
Yen%%%–
1.5
3.2
1.8–
9.7
6.5
6.6

Diluted earnings per
shareYen
60.71
351.35

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

Reference: Share of profit (loss) of entities accounted for using equity method Year ended March 31, 2023
Year ended March 31, 2022

¥5 million¥5 million(2) Consolidated financial position
Total assets
As of March 31, 2023
As of March 31, 2022
Reference: Equity

Net assets

Millions of yen
44,13046,123As of March 31, 2023
As of March 31, 2022

Millions of yen
26,653
26,399Equity ratio

Net assets per share%
55.0
51.7

Yen
4,106.29
3,844.09¥24,265 million¥23,865 million(3) Consolidated cash flows

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

Cash flows fromoperating activities
Millions of yen
1,772
1,655

Cash flows frominvesting activities
Millions of yen-1,464
1,756

1

Cash flows from
Cash and cash equivalents
financing activities
at end of period
Millions of yen
Millions of yen-1,882
6,577-1,1347,755

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2022
Year ended March 31, 2023
Year ending March 31, 2024(Forecast)

Total cash
Dividend payout
dividends (Total) ratio (Consolidated)

Total

Ratio of dividends
to net assets(Consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

–
–

20.00
20.00

––

45.00
20.00

65.00
40.00

406
239

18.5
65.9

1.8
1.0

–

20.00

–

20.00

40.00

236.4

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

Net sales

Full year

Millions of yen
32,500Percentages 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
1.4
300 -47.7
550 -62.4
100 -72.6
16.92* As the Company manages financial results annually, forecasts of consolidated financial results for the first six months are omitted.
4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) 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:

No
No

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023

6,699,986 shares As of March 31, 2022

6,699,986 shares

790,706 shares As of March 31, 2022

491,565 shares

Number of treasury shares at the end of the period
As of March 31, 2023
Average number of shares during the period
Year ended March 31, 2023

6,021,536 shares Year ended March 31, 2022

6,206,640 shares* Number of treasury shares excluded for calculating the number of treasury shares at the end of the period and average number of shares during
the period include the Company’s shares held by the trust account related to stock remuneration system (BBT=Board Benefit Trust).

2Reference: Summary of non-consolidated financial results
Non-consolidated financial results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(1) Non-consolidated operating results

Percentages indicate year-on-year changes
Net salesYear ended March 31, 2023
Year ended March 31, 2022

Operating profit

Millions of yen
25,142
24,674%1.9
25.0

Earnings per share

Millions of yen
-189
801%
––

Millions of yen
1,797
2,516

Profit%-28.6–

Millions of yen
1,064
2,457%-56.7–

Diluted earnings per share

Yen
175.84393.79Year ended March 31, 2023
Year ended March 31, 2022

Ordinary profit

Yen––(2) Non-consolidated financial position
Total assets
As of March 31, 2023
As of March 31, 2022
Reference: Equity

Net assets

Millions of yen
33,87735,653As of March 31, 2023
As of March 31, 2022

Millions of yen
19,10718,369Equity ratio

Net assets per share
%
56.4
51.5

Yen
3,214.53
2,942.60¥19,107 million¥18,369 million* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Proper use of forecasts of financial results, and other special matters(Caution concerning forward-looking statements)
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 and actual results may differ substantially due to various factors.
(Financial results meeting and how to obtain supplementary materials on financial results)
The Company plans to hold the online financial results meeting for analysts and institutional investors on Wednesday, May 24, 2023. The
Company plans to post the supplementary materials on financial results on its website promptly after the meeting is held.

3

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of March 31, 2023

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

9,811
9,536

9,356
7,470

Electronically recorded monetary claims - operating

2,011

2,259

Merchandise and finished goods
Work in process

1,658
4,285

1,795
3,701

Raw materials and supplies

2,309

2,616Other

464

354

Allowance for doubtful accounts-19-9

30,05827,543

13,196-9,541

13,150-9,591

Buildings and structures, net

3,654

3,559

Machinery, equipment and vehicles
Accumulated depreciation

9,055-8,091

8,967-7,972

963

994

Land
Construction in progress

4,748
20

4,748
59

Other
Accumulated depreciation

5,019-4,497

5,160-4,613

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

Machinery, equipment and vehicles, net

Other, net

522

547

9,908

9,908

456

419

5,089

5,765

Long-term loans receivable
Deferred tax assets
OtherAllowance for doubtful accounts

24
214
417
-47

2748
464
-47

Total investments and other assets

5,699

6,258

16,065

16,586

46,123

44,130Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities

Total non-current assets
Total assets

4

(Millions of yen)
As of March 31, 2022

As of March 31, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade

3,538

2,254

Electronically recorded obligations - operatingCurrent portion of long-term borrowings

4,108
579

3,584
303

Income taxes payable

287

271

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

572
16

558
13

Unearned revenue

82

81

Provision for product compensation

132

107

––

52
8

Other

1,944

1,888

Total current liabilities

11,263

9,123

Non-current liabilities
Long-term borrowings

418

164

9

13

2,424
30
5,423

2,398
30
5,345

51
103

315
85

8,460

8,353

Total liabilities

19,724

17,477

Net assets
Shareholders' equity
Share capital

6,103

6,103

Capital surplus
Retained earnings
Treasury shares

3,454
12,350-846

3,454
12,312-1,236

Total shareholders' equity

21,061

20,634

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment

1,875
928

2,344
1,286

Total accumulated other comprehensive income

Provision for environmental measures
Provision for demolition of non-current assets

Provision for share awards for directors (and otherofficers)
Retirement benefit liability
Asset retirement obligations
Long-term unearned revenue
Deferred tax liabilities
Other
Total non-current liabilities

2,803

3,630

Non-controlling interests

2,533

2,387

Total net assets

26,39926,653

46,123

44,130Total liabilities and net assets

5Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended

Fiscal year ended

March 31, 2022

March 31, 2023

Net sales

32,34732,036

Cost of sales

23,676

24,637Gross profit

8,671

7,399

Selling, general and administrative expenses

6,542

6,825

Operating profit

2,128

574

78115

68128

Non-operating income
Interest income
Dividend income
Royalty income

4251

Rental income
Foreign exchange gains

126315126476

Share of profit of entities accounted for using equity method

55

Other

182

132

Total non-operating income

866

988

1024

6–

24
36
67–
38
57

Non-operating expenses
Interest expenses
Arrangement Fee
Non-deductible consumption tax
Rent cost
Other
Total non-operating expenses

163

101

2,831

1,461

Extraordinary income
Gain on sale of non-current assets

227

8

Total extraordinary income

2278

Ordinary profit

Extraordinary lossesLoss on sale of non-current assets
Loss on retirement of non-current assets
Loss on liquidation of subsidiaries and associates
Impairment losses
Environmental expenses
Provision for environmental measures
Provision for demolition of non-current assets
Total extraordinary losses

00

1929
––––

71
–
5
4
52
66

49

200

Profit before income taxes

3,009

1,269

Income taxes - current
Income taxes - deferred596-94469
228

Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

6501

697

2,507572327

206

2,180365

Consolidated statements of comprehensive income(Millions of yen)
Fiscal year ended
March 31, 2022
ProfitFiscal year ended
March 31, 2023
2,507

572

68
861

462
520

05931

988

3,439

1,561

2,886

1,192

552

368

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parentComprehensive income attributable to non-controllinginterests

7

Consolidated statements of changes in equity
Fiscal year ended March 31, 2022
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

6,103

Retained earnings

3,454

10,382

Total shareholders'equity

Treasury shares-857

19,082

Changes during period
Dividends of surplus
Provision of reserve for
employees' welfare fundProfit (loss) attributable toowners of parent

-211

-211

-0-0

2,180

2,180

Purchase of treasury shares
Disposal of treasury shares-0-1-11111

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

–-0

1,968

10

1,979

6,103

3,454

12,350-846

21,061

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of period

1,805

Foreign currencytranslation adjustment292

Total accumulated
other comprehensive

Non-controllinginterests

Total net assets

income
2,097

2,384

23,565

Changes during period
Dividends of surplus-211

Provision of reserve for-0

employees' welfare fundProfit (loss) attributable toowners of parent

2,180

Purchase of treasury shares-1

Disposal of treasury shares

11Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

70

635

706

149

855

70

635

706

149

2,834

1,875

928

2,803

2,533

26,3998

Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

6,103

Retained earnings

3,454

12,350Total shareholders'equity

Treasury shares-846

21,061

Changes during period
Dividends of surplus
Provision of reserve for
employees' welfare fundProfit (loss) attributable toowners of parent-400-400-3-3

365

365

Purchase of treasury shares
Disposal of treasury shares

-393

-393

33–

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period––-37-389

-427

6,103

3,454

12,312-1,236

20,634

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at beginning of period

1,875

Foreign currencytranslation adjustment
928

Total accumulatedother comprehensive

Non-controllinginterests

Total net assets

income
2,803

2,533

26,399Changes during period
Dividends of surplus-400

Provision of reserve for-3

employees' welfare fundProfit (loss) attributable toowners of parent

365

Purchase of treasury shares-393

Disposal of treasury shares

3

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

468

358

827

-146

681

468

358

827

-146

253

2,344

1,286

3,630

2,387

26,6539Consolidated statements of cash flows(Millions of yen)
Fiscal year ended
March 31, 2022

Fiscal year ended
March 31, 2023

Cash flows from operating activities
Profit before income taxes

3,009

1,269

Depreciation
Impairment losses

1,018
–

986
5Provision for demolition of non-current assets

–

66

-12
-194

-9
-196

106

Foreign exchange losses (gains)

-219

-181

Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability

158
-69

-18-30Loss on liquidation of subsidiaries and associates

29–

–
-207

52
63-5-5Decrease (increase) in trade receivables
Decrease (increase) in inventories-1,271-2,231

1,563
231

Increase (decrease) in trade payables
Increase (decrease) in long-term unearned revenue
Other, net

2,082-78-84-1,864-78
197

Subtotal

Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses

Increase (decrease) in provision for environmental measures
Loss (gain) on sale and retirement of non-current assets
Share of loss (profit) of entities accounted for using equity
method

1,934

2,057

Interest and dividends received

192

201

Interest paid
Income taxes paid-10-461-6-479

Net cash provided by (used in) operating activities

1,655

1,772

Net decrease (increase) in time deposits
Purchase of property, plant and equipment
Payments for retirement of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Proceeds from liquidation of subsidiaries and associates
Other, net

1,451
-477
-16
331
-23
375
116

-641
-696
-42
15-62
–-36

Net cash provided by (used in) investing activities

1,756-1,464100-575-50
0-0-211-396

50-579-480-392-400-511-1,134-1,882

Cash flows from investing activities

Cash flows from financing activities
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Proceeds from sale of treasury shares
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

456

395

Net increase (decrease) in cash and cash equivalents

2,733-1,177

Cash and cash equivalents at beginning of period

5,021

7,755

Cash and cash equivalents at end of period

7,755

6,577

10