Summary of Financial Results for the First Quarter Ended November 30, 2019
[Japan GAAP] (Consolidated)
Company
Stock CodeRepresentativeContact

January 10, 2020
Listed on the TSE

Watts Co., Ltd.

2735
URL: https://www.watts-jp.com
Fumio Hiraoka, President and CEO
Hidehito Mori,T E L: +81-6-4792-3280
Executive Managing Director, Head of Corporate Planning Office
Expected date of filing of quarterly report: January 10, 2020
Expected starting date of dividend payment: Preparation of quarterly supplementary financial document: None
Quarterly results briefing: None
（Rounded down to million yen）

1. Consolidated business results for the three months ended November 2019
(September 1, 2019 through November 30, 2019)(1) Consolidated results of operations(% change from the previous corresponding period)

Sales

Operating profit

Million yen%

Million yen

Net income attributable toowners of parent
Million yen%

Recurring profit%

Million yen

Three months ended Nov. 201912,703
-0.2
206
50.4
Three months ended Nov. 2018
12,731
7.4
137
-45.0
(Note) Comprehensive income
Three months ended November 2019: 97 million yen (16.9%)
Three months ended November 2018: 83 million yen (-52.5%)
Net income
Diluted net income
per shareper shareYen
Yen
Three months ended Nov. 2019
6.81
Three months ended Nov. 2018
6.47-220
157%

40.0
-40.6

91
87

4.7-49.2(2) Consolidated financial position
Total assets
Million yen
22,576
21,557

As of Nov. 2019
As of Aug. 2019

Shareholders’equity ratio

Net assets
Million yen
9,829
9,867

%
44.8
47.1

(Reference) Shareholders’ equity
As of November 2019: 10,113 million yen
As of August 2019: 10,150 million yen

2. Dividends
End of 1QYen-Year ended Aug. 2019Year ending Aug. 2020
Year ending Aug. 2020 (forecast)

Yen
0.00

Annual dividend
End of 3Q
Yen-0.00-

End of 2Q

Year-endTotal

Yen
10.00

Yen
10.00

10.00

10.00

(Note) Revisions to dividend forecast for the current quarter: None

3．Forecast of consolidated business results for the fiscal year ending August 2020
(September 1, 2019 through August 31, 2020)

Net income pershare%

Million yen%

Million yen%

Net income attributableto owners of parent
Million yen%

25,500

-0.6

300

-18.2

310-8.0120

16.0

8.96

51,8600.97707.4

790

20.4

350

395.9

26.12

Sales
Million yen

For the six months
ending Feb. 2020
Year ending Aug. 2020(% change from the previous corresponding period)

Operating profit

Recurring profit(Note) Revisions to business forecast for the current quarter: None－ 1 －Yen

*Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes
in the scope of consolidation): None
(2) Application of accounting procedures specific to preparation of the consolidated quarterly financial statements:
None(3) Changes in accounting policies, accounting estimates and restatement①Changes in accounting policies associated with revision of accounting standards:②Changes in accounting policies other than ①③Changes in accounting estimates④Restatement: None: None: None: None

(4) Shares outstanding (common stock)①Number of shares outstanding at the end of period (treasury stock included)
As of November 201913,958,800 shares
As of August 201913,958,800 shares②Treasury stock at the end of period
As of November 2019
560,874 shares
As of August 2019
560,874 shares③Average number of stock during period (quarterly cumulative period)
Three months ended November 2019 13,397,926 shares
Three months ended November 2018 13,483,440 shares(Note) The number of treasury stock at the end of period includes the Company’s shares held by the share issuance trust for directors(FY8/20 1Q: 60,000 shares, FY8/19: 60,000 shares). In addition, the Company's shares owned by the share issuance trust for
directors are included in treasury stock deducted for calculation of the average number of shares during period (FY8/20 1Q:
60,000 shares, FY8/19 1Q: 60,000 shares).

*Quarterly financial summary is not subject to the quarterly review procedures by certified public accountants
or auditing firms.
*Explanation regarding appropriate use of business forecasts and other special instructions(Caution concerning forward-looking statements)
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 the time 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.

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