February 13, 2019

Summary of Consolidated Financial Results
for the Third Quarter of Fiscal Year Ending March 31, 2019
(Nine Months Ended December 31, 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:
February 14, 2019
Scheduled date of payment of dividend:
Preparation of supplementary materials for quarterly financial results: None
Holding of quarterly financial results meeting:None(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Third Quarter Ended December 31, 2018
(April 1, 2018 – December 31, 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%
Nine months ended Dec. 31, 2018
21,955
6.1
1,870
6.8
2,293
1.8
1,663
(4.5)
Nine months ended Dec. 31, 2017
20,684
10.5
1,751
49.2
2,253
46.3
1,742
44.3
Note: Comprehensive income (million yen) Nine months ended Dec. 31, 2018: 1,624 (down 14.9%)
Nine months ended Dec. 31, 2017: 1,908 (up 279.2 %)Net income per share Diluted net income per share
Yen

Yen

74.03
Nine months ended Dec. 31, 2018
Nine months ended Dec. 31, 2017
77.62
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 Dec. 31, 201829,584
19,675
65.9
As of Mar. 31, 2018
29,321
18,66062.9
Reference: Owner’s equity (million yen)
As of Dec. 31, 2018: 19,482 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
12.00
Fiscal year ending Mar. 31, 2019
16.30
28.30
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 dividends for the fiscal year ended March 31, 2018
are the actual amounts before the stock split.

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
Full year
29,084
3.6
2,257
7.2
2,797
2.3
2,018
(2.0)
89.80
Note: Revisions to the most recently announced consolidated earnings forecasts: Yes
Regarding revisions to the consolidated earnings forecast, please see the press release dated today (February 13, 2019)
concerning the revisions to the fiscal year forecast (Japanese version only).

* 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 Dec. 31, 2018:

22,490,910 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 Dec. 31, 2018:

510 shares

3) Average number of shares outstanding during the period
Nine months ended Dec. 31, 2018: 22,473,928 shares

Nine months ended Dec. 31, 2017:

22,452,984 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 previous fi scalyear.
* 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 Iwaki regarding future
performance. Actual results may differ materially from the forecasts.

IWAKI CO.,LTD. (6237) Financial Results for the Third 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 Nine-month Period

6

Quarterly Consolidated Statement of Comprehensive Income
For the Nine-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

8Additional Information

8

Segment Information

8

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

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation of Results of Operations
During the first nine months of the fiscal year ending March 31, 2019, the Japanese economy continued torecover at a moderate pace as corporate earnings and the employment environment improved. But the outlook is
unclear due to the rising cost of raw materials, the higher cost of labor caused by Japan’s labor shortage,
U.S.-China trade friction and other reasons.
In Japan, Iwaki took many actions for building stronger relationships with customers and developing productsthat meet customers’ demands. All activities are based on the core policy of “winning by improving customer
satisfaction.” Overseas, Iwaki had activities encompassing 21 affiliated companies in 15 countries to increase
sales.
Due to these activities, sales in the medical equipment, semiconductor/liquid crystal, and chemicals markets werehigher than one year earlier. The medical equipment market performed well, driven by growth in demand for
dialysis equipment and biochemical analysis equipment for major custo mers. Moreover, sales remained strong inthe semiconductor/liquid crystal market. In the chemicals market, performance was firm in Europe and the UnitedStates. The surface treatment equipment market also performed well, driven by demand for printed circui t board
manufacturing equipment. However, sales were down from one year earlier in the water treatment and new energy
markets.
Sales in Japan increased 5.9% from one year earlier to 13,569 million yen. Sales were driven by solid demand in
the medical equipment and semiconductor/liquid crystal markets. In Europe, sales were up 8.8% to 2,047 million
yen. Sluggish sales in the new energy market were offset by strength in the surface treatment equipment, water
treatment and chemicals markets. In the United States, sales increased 9.5% to 2,807 million yen as sales wereslow in the surface treatment equipment market but the water treatment and chemicals markets performed well. In
Asia, sales decreased 3.9% to 1,925 million yen because of a lower demand in the semiconductor/liquid crystal
market in South Korea. Sales in China were up 19.5% to 937 million yen because of higher sales of biochemical
analysis equipment and other products in the medical equipment market.
By product category, sales of pneumatic drive pumps for the semiconductor/liquid crystal market and rotary
displacement pumps for the medical equipment market continued to grow. Sales of mainline magnetic drive
pumps were also higher.
Consequently, consolidated sales increased 6.1% to 21,955 million yen.
Earnings benefited from the growth in sales and other factors. Operating profit increased 6.8% to 1,870 million
yen, ordinary profit increased 1.8% to 2,293 million yen and profit attributable to owners of parent decreased
4.5% to 1,663 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 third quarter of the current fiscal year was 20,499 million yen,down 658 million yen from the end of the previous fiscal year. This was mainly due to a decrease of 1,532 million
yen in cash and deposits, while there were increases of 291 million yen in electronically recorded monetaryclaims-operating and 224 million yen in raw materials and supplies. The balance of non-current assets was 9,085
million yen at the end of the third quarter, up 922 million yen from the end of the previous fiscal year. This was
mainly because of an increase of 1,031 million yen in property, plant and equipment.
As a result, total assets increased 263 million yen from the end of the previous fiscal year to 29,584 million yen.
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IWAKI CO.,LTD. (6237) Financial Results for the Third Quarter of FY3/19

Liabilities
The balance of current liabilities at the end of the third quarter of the current fiscal year was 7,812 million yen,down 700 million yen from the end of the previous fiscal year. This was mainly due to decreases of 346 million
yen in income taxes payable and 477 million yen in provision for bonuses. The balance of non-current liabilities
was 2,096 million yen at the end of the third quarter, down 50 million yen from the end of the previous fiscal year.
This was mainly due to a 99 million yen decrease in provision for directors’ retirement benefits, while there wa s
an increase of 21 million yen in lease obligations.
As a result, total liabilities decreased 751 million yen from the end of the previous fiscal year to 9,908 million
yen.
Net assets
The balance of net assets at the end of the third quarter of the current fiscal year was 19,675 million yen, up 1,015
million yen from the end of the previous fiscal year. The main factors include a 1,030 million yen increase inretained earnings.
Consequently, the capital adequacy ratio was 65.9% (62.9% at the end of the previous fiscal year).
(3) Explanation of Consolidated Earnings Forecasts and Other Forward -looking Statements
The forecast for the fiscal year ending on March 31, 2019 has been revised to reflect the results of operations in
the first nine months. For more information, please see the press release dated today (February 13, 2019)
concerning the revisions to the fiscal year forecast (Japanese version only).

3

IWAKI CO.,LTD. (6237) Financial Results for the Third 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)
Third quarter of FY3/19(As of Dec. 31, 2018)

AssetsCurrent assets
Cash and deposits

6,251,621

4,718,719

Notes and accounts receivable-trade7,110,089

7,026,335

Electronically recorded monetary claims-operating

2,569,198

2,860,883

Merchandise and finished goods

1,999,571

2,074,568

14,825

135,822Work in process
Raw materials and supplies

3,009,883

3,234,032

Other

228,159

471,947

Allowance for doubtful accounts(25,195)(23,039)

21,158,154

20,499,268

4,682,032

7,291,338

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

(3,619,413)(3,605,086)

Buildings and structures, net

1,062,618

3,686,252

Machinery, equipment and vehicles

2,354,152

2,468,282(2,134,874)(2,212,496)

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

255,785

1,652,282

1,795,343(1,416,019)(1,444,573)

236,263

350,769

1,042,918

1,044,531

385,923

374,825(242,638)(208,760)

Leased assets, net

143,284

166,064

Construction in progress

1,940,973

171,904

23,56927,879(16,282)(19,042)

7,286

8,837

4,652,622

5,684,146

3,781

3,024

Accumulated depreciation

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

71,79563,020Other

129,433

126,739

Total intangible assets

205,009

192,784

Investment securities

2,347,028

2,224,789

Deferred tax assets

682,934

690,362

Other

275,396

293,191

3,305,359

3,208,344

Investments and other assets

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

4

8,162,991

9,085,274

29,321,146

29,584,543

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

FY3/18(As of Mar. 31, 2018)(Thousands of yen)
Third quarter of FY3/19(As of Dec. 31, 2018)

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

5,117,443

5,104,319

657,415

657,915

Lease obligations

62,88969,074

Income taxes payable

497,919

151,476

Provision for bonuses

893,141

416,140

Provision for directors’ bonuses

98,681

48,698Provision for product warranties

109,686

111,943

Other

1,076,268

1,252,991

Total current liabilities

8,513,444

7,812,560

Long-term loans payable

300,000

300,000

Lease obligations

94,892

116,151

Non-current liabilities

Deferred tax liabilities

390

383

Provision for directors’ retirement benefits

151,043

51,687

Net defined benefit liability

806,457

812,337

Asset retirement obligations

180,356

181,601

Other

613,902633,938

2,147,041

2,096,100

10,660,486

9,908,661

Capital stock

1,018,250

1,044,691

Capital surplus

638,250

664,691

Retained earnings

16,157,603

17,187,772

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

Treasury shares

(480)

(559)

17,813,622

18,896,594

Valuation difference on available-for-sale securities

274,384

227,585

Foreign currency translation adjustment

403,156

388,632

Remeasurements of defined benefit plans(38,131)(30,801)

Total accumulated other comprehensive income

639,409585,416

207,627

193,871

18,660,659

19,675,882

29,321,146

29,584,543

Total shareholders’ equity
Accumulated other comprehensive income

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

5

IWAKI CO.,LTD. (6237) Financial Results for the Third Quarter of FY3/19(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income(For the Nine-month Period)First nine months of FY3/18(Apr. 1, 2017 – Dec. 31, 2017)(Thousands of yen)First nine months of FY3/19(Apr. 1, 2018 – Dec. 31, 2018)

Net sales

20,684,089

21,955,656

Cost of sales

13,655,932

14,212,665

Gross profit

7,028,157

7,742,991

Selling, general and administrative expenses

5,276,897

5,872,765

Operating profit

1,751,259

1,870,225

Interest income

20,611

19,327

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

26,87020,344

387,017428,22179,920-Other34,896

46,340Total non-operating income

549,317514,233

Interest expenses

21,403

23,119Commission fee

17,917

3,765-

27,546

Non-operating income

Non-operating expenses

Foreign exchange losses
Business establishment transfer expenses-

30,900

Other

7,744

5,325

Total non-operating expenses

47,06590,6572,253,511

2,293,800

Gain on sales of non-current assets

1,543

-

Total extraordinary income

1,543

-

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on sales of non-current assets-

172

Loss on retirement of non-current assets

2,740

1,736

Total extraordinary losses

2,740

1,908

2,252,313

2,291,892

489,178

613,379

1,763,134

1,678,512

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

620,271

14,725

1,742,862

1,663,786

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

Quarterly Consolidated Statement of Comprehensive Income(For the Nine-month Period)First nine months of FY3/18(Apr. 1, 2017 – Dec. 31, 2017)(Thousands of yen)First nine months of FY3/19(Apr. 1, 2018 – Dec. 31, 2018)

1,763,134

1,678,512

Valuation difference on available-for-sale securities

74,236(46,798)

Foreign currency translation adjustment

21,708(11,410)

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method

29,9107,329

19,713(3,615)

Total other comprehensive income

145,568(54,494)

1,908,702

1,624,017

1,887,739

1,609,793

20,963

14,223

ProfitOther comprehensive income

Comprehensive income
Comprehensive income attributable to:Comprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

7

IWAKI CO.,LTD. (6237) Financial Results for the Third 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.
Additional Information
Application of Partial Amendments to Accounting Standard for Tax Effect Accounting, etc.
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) and otherrelated pronouncements. Accordingly, deferred tax assets and deferred tax liabilities have been presented in theinvestments and other assets section and the non-current liabilities section of the balance sheet, respectively.
Segment Information
Segment information
I. First nine months of FY3/18 (Apr. 1, 2017 – Dec. 31, 2017)
Omitted because chemical pumps are the only business of the Iwaki Group.
II. First nine months of FY3/19 (Apr. 1, 2018 – Dec. 31, 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