Summary of Consolidated Financial Results
for the Six Months Ended September 30, 2023
〔Japanese GAAP〕

November 7, 2023

NORITAKE CO., LIMITED

Company Name
Stock Exchange Listings
Code Number
URL
Representative
Contact Person

Tokyo, Nagoya
5331
https://www.noritake.co.jp/eng/
Hiroshi Kato, President
Munenari Mizukuchi,
Executive Officer Finance and Accounting Dept.
(Tel: +81-52-561-7116)(Fiscal Year 2024 : Year ending March 31, 2024)(Millions of Yen: Amounts less than 1 million yen are omitted.)(Percentages indicate year-on-year changes)

1. Consolidated Financial Results for the Six Months of Fiscal Year 2024 (April 1,2023‐September 30,2023)(1) Operating Results
Net Sales
Millions of Yen

Operating Profit
ChangeMillions of Yen

Ordinary Profit

ChangeMillions of Yen

Six months
67,559(0.4%)
4,889
7.9%
of FY 2024
Six months
67,801
10.3%
4,533
8.1%
of FY 2023
(Note) Comprehensive income : Six months of FY 2024 : 9,349 million yen
Six months of FY 2023 : 7,601 million yen
Profit Attributableto Owners of Parent
Six monthsof FY 2024
Six monthsof FY 2023

6,959

5.8%

6,58015.7%

23.0%
123.9%

Basic Earnings
per Share

Diluted Earnings
per Share

ChangeYenYen

5,793

11.9%

400.55

−

5,175

23.1%

358.61−Millions of Yen

Change(2) Financial Position
Total Assets

Net Assets

Ratio ofShareholders’EquityShareholders’Equityper Share

Millions of Yen

Millions of Yen%

Yen

2nd quarterof FY 2024

186,016

136,78973.1

9,379.82

FY 2023

180,585

128,96171.0

8,881.90(Reference) Shareholders’ Equity : 2nd quarter of FY 2024 : 135,957 million yen
FY 2023 : 128,189 million yen

2. Dividends
Dividends per Share
Interim (Yen)

Year-End (Yen)

Total (Yen)FY 202390.00

115.00205.00FY 2024 (Actual)

120.00−−−120.00240.00FY 2024 (Forecast)(Note) Revisions to forecast of dividends per share for FY 2024: Yes-1-Noritake Co., Limited

3. Forecast for Fiscal Year 2024 ＊Net Sales

FY 2024

Operating Profit

Millions of Yen

ChangeMillions of Yen

ChangeMillions of Yen

Change139,000(0.4%)

10,00011.5%

13,5008.8%

Profit Attributable toOwners of Parent

FY 2024

Ordinary Profit

Basic Earnings
per Share

Millions of Yen

ChangeYen

11,0009.7%

758.90(Note) Revisions to forecast of consolidated financial results : Yes

4. Other Information(1) Status changes of specified subsidiaries involving changes in the scope of consolidation : None
(2) Adoption of accounting methods used specifically for quarterly consolidated financial statements : None
(3) Change in accounting policies, accounting estimates or restatement① Changes in accordance with revision of accounting standards : None
② Other changes in accounting policies : None
③ Changes in accounting estimates : None
④ Restatement : None
(4) Number of shares outstanding (Common Shares)
Outstanding sharesat end of period(including treasury shares)

Treasury sharesat end of period

2nd quarterof FY 2024

14,842,849

348,179

FY 2023

14,842,849

410,151

Average number ofshares outstanding
over period

2nd quarterof FY 2024
2nd quarterof FY 2023

14,464,602
14,433,568＊Cautionary Statement:
1. This report is not subject to quarterly review procedures by certified public accountants or auditing
firms.
2. Forecast for FY 2024 is based on management’s assumptions and beliefs in the light of information
currently available. A number of important risks and uncertainties could cause actual results to differ
materially from it, therefore Noritake suggests that you should not place undue reliance on it forinvestment purpose and so forth.
(Note) This document has been translated from a part of the Japanese original for reference purposes
only. In the event of any discrepancy between this translated document and the Japanese original, theoriginal shall prevail.

-2-Noritake Co., Limited

CONSOLIDATED BALANCE SHEETSFY 2023
As of March 31, 2023
Millions of YenAssets
Current assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Provision for bonuses
Notes payable - facilities
Electronically recorded obligations - non-operating
Other
Total current liabilities
Non-current liabilities
Provisions
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-3-

FY 2024 2Q
As of September 30, 2023
Millions of Yen

14,601
36,318
5,037
12,769
8,739
8,075
3,189
(128)
88,603

15,942
32,791
6,300
12,662
12,499
7,803
2,385
(25)
90,36018,39927,50145,9001,934

18,80427,537
46,3422,000

38,411
4,359
1,587
(210)
44,14891,982
180,585

41,4594,424
1,592(163)47,313
95,656
186,016

9,954
10,113
12,450
1,415
1,757
165
947
5,326
42,1308,370
12,051
6,462
2,361
1,782
186
990
7,881
40,085

780
1,449
7,263
9,493
51,623

547
1,463
7,130
9,141
49,226

15,632
18,59379,936(1,256)112,905

15,632
18,59384,038(1,084)
117,179

13,526(308)
2,066
15,284772
128,961
180,585

15,203
1,692
1,882
18,777832
136,789
186,016

Noritake Co., Limited

CONSOLIDATED STATEMENTS OF INCOME

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Selling expenses
General and administrative expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rental income
Foreign exchange gains
Share of profit of entities accounted for using equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rental expenses on non-current assets
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Loss on valuation of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-4-

FY 2023 2Q(April 1, 2022 throughSeptember 30, 2022)
Millions of Yen
67,80150,176
17,625FY 2024 2Q(April 1, 2023 throughSeptember 30, 2023)
Millions of Yen
67,55949,353
18,206

8,692
4,399
13,092
4,533

8,447
4,869
13,316
4,889

46547
255
435741
131
2,158

141
549
259
279
845
109
2,185

8
65
37
111
6,580

1071
32
115
6,959

2−
218
1,003
1,022

152
0
153
6,429
1,363
(115)
1,248
5,180
4
5,175

433
1435
7,546
2,479
(749)
1,730
5,815
21
5,793

Noritake Co., Limited

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted for usingequity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests-5-

FY 2023 2Q(April 1, 2022 throughSeptember 30, 2022)
Millions of Yen
5,180

FY 2024 2Q(April 1, 2023 throughSeptember 30, 2023)
Millions of Yen
5,815(249)
2,851(214)1,676
2,025(183)

33

14

2,420
7,601

3,533
9,349

7,514
87

9,28761

Noritake Co., Limited

CONSOLIDATED STATEMENTS OF CASH FLOWSFY 2023 2Q(April 1, 2022 throughSeptember 30, 2022)
Millions of Yen
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in net defined benefit liability and asset
Increase (decrease) in provisions
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using equity method
Loss (gain) on sale of short-term and long-term investment
securities
Loss (gain) on valuation of short-term and long-term investment
securities
Loss (gain) on sale and retirement of property, plant and equipment
and intangible assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment and intangible assets
Proceeds from sale of property, plant and equipment and intangible
assetsPurchase of investment securities
Proceeds from sale of investment securities
Loan advances
Proceeds from collection of loans receivable
Payments into time deposits
Proceeds from withdrawal of time deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from sale of treasury shares
Purchase of treasury shares
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase(decrease) in cash and cash equivalents resulting from unifying
financial report period of consolidated subsidiaries
Cash and cash equivalents at end of period-6-

FY 2024 2Q(April 1, 2023 throughSeptember 30, 2023)
Millions of Yen

6,429
2,355(8)(251)
25(594)8(741)

7,546
2,363(157)
(324)
(232)
(691)
10(845)−(1,003)

0

1150

415

(3,210)(6,748)
2,803
(221)
(2)
594
(8)
(1,949)(1,366)2,594(2,799)221
3,586
10,683691(10)(1,185)
10,179(2,474)(2,921)15

22(16)−(74)
13(2,342)
2,461
(232)
(2,649)(14)
1,241(49)31(2,896)
2,480(209)(2,315)3,005
269(271)(1,171)
(35)
1,795
436
(1,783)
11,733(5,989)−(2)(1,691)(89)(7,773)506
596
12,008415−

10,366

12,605

Noritake Co., Limited

NOTES ON QUATERLY CONSOLIDATED FINANCIAL STATEMENTS(Notes on Premise of Going Concern)
Not applicable.
(Notes on Significant Changes in Shareholder's Equity)
Not applicable.

SEGMENT INFORMATION
FY 2023 2Q (April 1, 2022 through September 30, 2022)
Industrial
Ceramics &Products
Materials
Net sales:
Revenue from contracts with
29,321
24,986customers
29,321
24,986
Sales to external customers
1,478
2,797
Operating profit (loss)

FY 2024 2Q (April 1, 2023 through September 30, 2023)
Industrial
Ceramics &Products
Materials
Net sales:
Revenue from contracts with
27,88524,042
customers
27,88524,042
Sales to external customers
959
3,226
Operating profit (loss)-7-(Millions of Yen)
Engineering

10,367
10,367564

Tabletop

Total

3,125
3,125(307)67,80167,801
4,533(Millions of Yen)
Engineering12,144
12,144745

Tabletop

3,487
3,487
(42)

Total

67,55967,5594,889