August 10, 2018

Summary of Consolidated Financial Results
for the First Quarter of Fiscal Year Ending March 31, 2019
(Three Months Ended June 30, 2018)[Japanese GAAP]
Company name:
Stock code:
Representative:
Contact:IWAKI CO.,LTD.
Listing: Tokyo Stock Exchange, Second Section
6237
URL: http://www.iwakipumps.jp/
Shigeru Fujinaka, President
Makoto Inoue, Director,
Senior General Manager of Business Management Head OfficeTel: (81)3-3254-2931
Scheduled date of filing of Quarterly Report:
August 10, 2018
Scheduled date of payment of dividend:
Preparation of supplementary materials for quarterly financial results:
Yes
Holding of quarterly financial results meeting:None(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the First Quarter Ended June 30, 2018 (April 1, 2018 – June 30, 2018)(1) Consolidated results of operations(Percentages represent year-on-year changes)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Million yen% Million yen% Million yen% Million yen%
Three months ended Jun. 30, 2018
7,256
12.2
617
37.0
742
19.2
490
8.6
Three months ended Jun. 30, 2017
6,465
8.6
450
46.6
623
22.0
451
37.2
Note: Comprehensive income (million yen) Three months ended Jun. 30, 2018: 290 (down 25.2 %)Three months ended Jun. 30, 2017: 389 (-%)
Net income per share Diluted net income per share
Yen

Yen

Three months ended Jun. 30, 2018
21.86
Three months ended Jun. 30, 201720.12
Note: Iwaki conducted a 3-for-1 common stock split on July 1, 2018. Net income per share has been calculated as if this stock
split had taken place at the beginning of the previous fiscal year.
(2) Consolidated financial position
Total assets
Net assets
Capital adequacy ratio
Million yen
Million yen%
As of Jun. 30, 201829,465
18,56462.4
As of Mar. 31, 2018
29,321
18,66062.9
Reference: Owner’s equity (million yen)
As of Jun. 30, 2018: 18,374
As of Mar. 31, 2018: 18,453
Note: Starting with the beginning of the first quarter of the current fiscal year, Iwaki is applying “Partial Amendments to
Accounting Standard for Tax Effect Accounting” (Accounting Standards Board of Japan (ASBJ) Statement No. 28,
February 16, 2018). Prior-year figures have been adjusted retroactively.

2. Dividends
1Q-endYen

Dividend per share
2Q-end3Q-endYear-end
Yen

Yen

Yen

Total
Yen

34.00
48.60
82.60
Fiscal year ended Mar. 31, 2018
Fiscal year ending Mar. 31, 2019
9.20
17.80
27.00
Fiscal year ending Mar. 31, 2019 (forecasts)
Note: Revisions to the most recently announced dividend forecasts: None
Iwaki conducted a 3-for-1 common stock split on July 1, 2018. The year-end dividend forecast for the fiscal year
ending March 31, 2019 is adjusted to reflect the stock split. Prior to this adjustment, the year-end dividend forecast was
81.00 yen per share.

3. Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2019
(April 1, 2018 – March 31, 2019)(Percentages represent year-on-year changes)
Profit attributable to
Net income
Net sales
Operating profit
Ordinary profit
owners of parent
per share
Million yen% Million yen% Million yen% Million yen%
Yen
First half
14,2356.0
879(13.4)
1,081(20.2)
688 (32.3)
30.63
Full year
29,427
4.8
2,366
12.3
2,804
2.6
2,015
89.65
(2.1)
Note: Revisions to the most recently announced consolidated earnings forecasts: None
Iwaki conducted a 3-for-1 common stock split on July 1, 2018. Furthermore, a resolution was passed on July 13 to issue
new shares in relation to a restricted stock compensation plan. Consolidated net income per share forecast for the fiscal
year ending March 31, 2019 is adjusted to reflect the stock split and the new share issue.

* Notes(1) Changes in consolidated subsidiaries during the period (changes in scope of consolidation): None
(2) Application of special accounting methods for presenting quarterly consolidated financial statements: Yes
Note: Please refer to page 8 “2. Quarterly Consolidated Financial Statements and Notes, (3) Notes to Quarterly
Consolidated Financial Statements, Application of Special Accounting Methods for Presenting Quarterly
Consolidated Financial Statements” for details.

(3) Changes in accounting policies and accounting-based estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards, others: None
2) Changes in accounting policies other than 1) above:None3) Changes in accounting-based estimates:

None4) Restatements:

None(4) Number of outstanding shares (common shares)
1) Number of shares outstanding at the end of the period (including treasury shares)
As of Jun. 30, 2018:

22,453,110 shares

As of Mar. 31, 2018:

22,453,110 shares

As of Mar. 31, 2018:462 shares

2) Number of treasury shares at the end of the period
As of Jun. 30, 2018:462 shares

3) Average number of shares outstanding during the period
Three months ended Jun. 30, 2018: 22,452,648 shares

Three months ended Jun. 30, 2017:

22,453,056 shares

Note: Iwaki conducted a 3-for-1 common stock split on July 1, 2018. The number of shares outstanding at the end of theperiod, the number of treasury shares at the end of the period, and the average number of shares outstanding
during the period were calculated as if this stock split had been taken place at the beginning of the previo us fiscal
year.
* The current quarterly financial report is not subject to quarterly review by certified public accountants or auditing firms.
* Cautionary statement with respect to forward-looking statements
Note concerning forward-looking statements
Forecasts of future performance in these materials are based on assumption judged to be valid and information available to
the Company’s management at the time the materials were prepared, but are not promises by the Company regarding future
performance. Actual results may differ materially from the forecasts.
How to view supplementary information materials for quarterly financial results
The supplementary information materials for quarterly financial results will be available (Japanese version only) on the
Company’s website after disclosure of the first quarter financial results for the fiscal year ending March 31, 2019.

IWAKI CO.,LTD. (6237) Financial Results for the First Quarter of FY3/19

Contents of Attachments
1. Qualitative Information on Quarterly Consolidated Financial Performance2(1) Explanation of Results of Operations

2(2) Explanation of Financial Position

2(3) Explanation of Consolidated Earnings Forecasts and Other Forward -looking Statements

3

2. Quarterly Consolidated Financial Statements and Notes

4(1) Quarterly Consolidated Balance Sheet

4(2) Quarterly Consolidated Statements of Income and Comprehensive Income

6

Quarterly Consolidated Statement of Income
For the Three-month Period

6

Quarterly Consolidated Statement of Comprehensive Income
For the Three-month Period

7(3) Notes to Quarterly Consolidated Financial Statements

8

Going Concern Assumption

8

Significant Changes in Shareholders’ Equity

8

Application of Special Accounting Methods for Presenting Quarterly Consolidated Financial Statements

8

Segment Information

8

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IWAKI CO.,LTD. (6237) Financial Results for the First Quarter of FY3/19

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation of Results of Operations
During the first quarter of the fiscal year ending March 31, 2019, the Japanese economy continued to recover as
corporate earnings and the employment environment improved in response to signs of an upturn in capital
investment. The global economy is also recovering at a moderate pace as it continues to benefit from
improvement in the environment for jobs and personal incomes, especially in the United States. However, theoutlook remains unclear, due to factors such as the uncertainty related to policy management of the United Statesadministration and rising geopolitical risk.
In Japan, Iwaki Co.,Ltd has been taking positive action to further its basic policy of “winning by improving
customer satisfaction.” Overseas, Iwaki worked with its 21 affiliated companies in 15 countries to increase sales.
Due to these activities, sales in the semiconductor/liquid crystal, medical equipment and surface treatment
equipment markets were higher than one year earlier. Sales remained strong in the semiconductor/liquid crystal
market. Moreover, the medical equipment market also performed well, driven by growth in demand for dialysis
equipment and biochemical analysis equipment for major customers. In addition, the surface treatment equipment
market also performed well, driven by demand for printed circuit board manufacturing equipment. Although the
new energy market remained steady as a result of China’s capital investment, the performance of the water
treatment and chemicals markets, both domestically and overseas, remained slightly weaker than one year earlier.
Sales in Japan increased 13.6% from one year earlier to 4,491 million yen. Sales were driven by favorable
demand from the semiconductor/liquid crystal and medical equipment markets. In Europe, sales were up 15.6% to701 million yen. This was caused by strength in the chemicals market. In the United States, a steady performance
resulted in sales growth of 3.1% to 818 million yen. In Asia, sales increased 12.8% to 742 million yen as thesemiconductor/liquid crystal market remained strong. Sales in China were up 14.6% to 271 million yen becauseof solid sales growth in Iwaki’s six major markets.
By product, sales of pneumatic drive pumps for the semiconductor/liquid crystal market continued to grow. Salesof mainline magnetic drive pumps for the chemicals market and rotary displacement pumps for the medical
equipment market were also higher. Sales of metering pumps for the water treatment and chemicals markets werestrong.
Consequently, consolidated sales increased 12.2% to 7,256 million yen.
Earnings benefited from the growth in sales and cost cutting initiatives. Operating profit increased 37.0% to 617
million yen, ordinary profit increased 19.2% to 742 million yen and profit attributable to owners of parent
increased 8.6% to 490 million yen.
No business segment information is provided because chemical pumps are the only business of the Iwaki Group.
(2) Explanation of Financial Position
Starting with the beginning of the first quarter of the current fiscal year, Iwaki is applying “Partial Amendments
to Accounting Standard for Tax Effect Accounting” (ASBJ Statement No. 28, February 16, 2018). Prior -year
figures have been adjusted retroactively in order to facilitate comparisons.
AssetsThe balance of current assets at the end of the first quarter of the current fiscal year was 20,504 million yen, down
653 million yen from the end of the previous fiscal year. This was mainly due to a decrease of 1,052 million yen
in cash and deposits, while there were increases of 137 million yen in electronically recorded monetaryclaims-operating, 121 million yen in work in process and 99 million yen in raw materials and supplies. Thebalance of non-current assets was 8,960 million yen at the end of the first quarter, up 797 million yen from theend of the previous fiscal year. This was mainly because of an increase of 970 million yen in property, plant andequipment.
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IWAKI CO.,LTD. (6237) Financial Results for the First Quarter of FY3/19

As a result, total assets increased 143 million yen from the end of the previous fiscal year to 29,465 million yen.
Liabilities
The balance of current liabilities at the end of the first quarter of the current fiscal year was 8,713 million yen, up
199 million yen from the end of the previous fiscal year. This was mainly due to an increase of 29 million yen innotes and accounts payable-trade. The balance of non-current liabilities was 2,187 million yen at the end of thefirst quarter, up 40 million yen from the end of the previous fiscal year. This was mainly due to a 28 million yen
increase in lease obligations.
As a result, total liabilities increased 240 million yen from the end of the previous fiscal year to 10,900 million
yen.
Net assets
The balance of net assets at the end of the first quarter of the current fiscal year was 18,564 million yen, down 96
million yen from the end of the previous fiscal year. The main factors include a 198 million yen decrease inforeign currency translation adjustment, while there was a 127 million yen increase in retained earnings.
Consequently, the capital adequacy ratio was 62.4% (62.9% at the end of the previous fiscal year).
(3) Explanation of Consolidated Earnings Forecasts and Other Forward -looking Statements
We maintain the first-half and full-year consolidated earnings forecast that was disclosed in the “Summary ofConsolidated Financial Results for the Fiscal Year Ended March 31, 2018” dated May 14, 2018.

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IWAKI CO.,LTD. (6237) Financial Results for the First Quarter of FY3/19

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet
FY3/18(As of Mar. 31, 2018)(Thousands of yen)First quarter of FY3/19(As of Jun. 30, 2018)

AssetsCurrent assets
Cash and deposits

6,251,621

5,198,744

Notes and accounts receivable-trade7,110,089

7,085,316

Electronically recorded monetary claims-operating

2,569,198

2,707,179

Merchandise and finished goods

1,999,571

1,847,316

14,825

136,479

Work in process
Raw materials and supplies

3,009,883

3,109,408

Other

228,159444,966

Allowance for doubtful accounts(25,195)(24,421)

21,158,154

20,504,989

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

4,682,032

7,357,732

Accumulated depreciation and impairment loss

(3,619,413)(3,650,315)

Buildings and structures, net

1,062,618

3,707,416

Machinery, equipment and vehicles

2,354,152

2,367,530(2,134,874)(2,140,139)

Accumulated depreciation and impairment loss
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation and impairment loss
Tools, furniture and fixtures, net
Land
Leased assets

219,277

227,391

1,652,282

1,716,363(1,416,019)(1,409,823)

236,263306,540

1,042,918

1,043,741

385,923

410,884

Accumulated depreciation(242,638)(237,330)

Leased assets, net

143,284

173,553

Construction in progress

1,940,973

156,551

23,56924,933(16,282)(16,550)

7,286

8,382

4,652,622

5,623,577

3,781

3,529

Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Trademark right

71,79564,647

Other

129,433

126,624

Total intangible assets

205,009

194,801

Investment securities

2,347,028

2,206,889

Deferred tax assets

682,934

652,336

Other

275,396

282,443

3,305,359

3,141,669

8,162,991

8,960,048

29,321,146

29,465,037

Investments and other assets

Total investments and other assets
Total non-current assets
Total assets

4

IWAKI CO.,LTD. (6237) Financial Results for the First Quarter of FY3/19

FY3/18(As of Mar. 31, 2018)(Thousands of yen)First quarter of FY3/19(As of Jun. 30, 2018)

Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable

5,117,443

5,146,898

657,415

659,990

Lease obligations

62,88969,079

Income taxes payable

497,919

207,007

Provision for bonuses

893,141

381,686

Provision for directors’ bonuses

98,681

16,553

Provision for product warranties

109,686

110,091

Other

1,076,268

2,121,973

Total current liabilities

8,513,444

8,713,280

Long-term loans payable

300,000

300,000

Lease obligations

94,892

123,305

Non-current liabilities

Deferred tax liabilities

390

385

Provision for directors’ retirement benefits

151,043

151,043

Net defined benefit liability

806,457

807,568

Asset retirement obligations

180,356

180,771

Other

613,902624,460

2,147,041

2,187,535

10,660,486

10,900,816

Capital stock

1,018,250

1,018,250

Capital surplus

638,250

638,250

Retained earnings

16,157,603

16,284,724

Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity

Treasury shares

(480)

(480)

17,813,622

17,940,743

Valuation difference on available-for-sale securities

274,384

264,897

Foreign currency translation adjustment

403,156

204,607

Total shareholders’ equity
Accumulated other comprehensive income

Remeasurements of defined benefit plans(38,131)(35,688)

Total accumulated other comprehensive income

639,409433,817

207,627

189,660

18,660,659

18,564,221

29,321,146

29,465,037

Non-controlling interests
Total net assets
Total liabilities and net assets

5

IWAKI CO.,LTD. (6237) Financial Results for the First Quarter of FY3/19(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income(For the Three-month Period)First three months of FY3/18(Apr. 1, 2017 – Jun. 30, 2017)(Thousands of yen)First three months of FY3/19(Apr. 1, 2018 – Jun. 30, 2018)

Net sales

6,465,869

7,256,769

Cost of sales

4,243,579

4,704,189

Gross profit

2,222,290

2,552,580

Selling, general and administrative expenses

1,771,489

1,934,783

450,800

617,796

Operating profit
Non-operating income
Interest income

6,675

5,511

Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains

19,145

13,093

107,803147,315

37,829-Other

11,464

11,569Total non-operating income

182,919

177,490

6,388

7,674

Foreign exchange losses-

10,487

Business establishment transfer expenses-

30,900

4,147

3,349

Non-operating expenses
Interest expenses

Other
Total non-operating expenses

10,53552,412

623,184

742,875

Gain on sales of non-current assets

168

20

Total extraordinary income

168

20

Loss on retirement of non-current assets

1,878

564

Total extraordinary losses

1,878

564

Profit before income taxes

621,474

742,330

Income taxes

160,790

244,547

Profit460,683

497,783

8,877

6,930

451,806

490,853

Ordinary profit
Extraordinary income

Extraordinary losses

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

6

IWAKI CO.,LTD. (6237) Financial Results for the First Quarter of FY3/19

Quarterly Consolidated Statement of Comprehensive Income(For the Three-month Period)First three months of FY3/18(Apr. 1, 2017 – Jun. 30, 2017)
Profit460,683(Thousands of yen)First three months of FY3/19(Apr. 1, 2018 – Jun. 30, 2018)497,783

Other comprehensive income
Valuation difference on available-for-sale securities

19,710(9,486)

Foreign currency translation adjustment(99,547)(167,321)

9,970

2,443

(1,783)(32,432)

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:Comprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

7(71,650)(206,796)

389,033

290,987

380,258

285,261

8,774

5,726

IWAKI CO.,LTD. (6237) Financial Results for the First Quarter of FY3/19(3) Notes to Quarterly Consolidated Financial Statements
Going Concern Assumption
Not applicable.
Significant Changes in Shareholders’ Equity
Not applicable.
Application of Special Accounting Methods for Presenting Quarterly Consolidated Financial Statements
Calculation of tax expense
At Iwaki and certain consolidated subsidiaries, the tax expenses were calculated by first estimating the effective
tax rate after the application of tax effect accounting with respect to profit before income taxes during the fiscal
year, and multiplying that rate by the quarterly profit before income taxes.
Segment Information
Segment information
I. First three months of FY3/18 (Apr. 1, 2017 –Jun. 30, 2017)
Omitted because chemical pumps are the only business of the Iwaki Group.
II. First three months of FY3/19 (Apr. 1, 2018 – Jun. 30, 2018)
Omitted because chemical pumps are the only business of the Iwaki Group.

This financial report is solely a translation of “Kessan Tanshin” (in Japanese, including attachments), which has been
prepared in accordance with accounting principles and practices generally accepted in Japan, for the convenience ofreaders who prefer an English translation.

8