Consolidated Financial Results
for the Three Months Ended June 30, 2024
[Japanese GAAP]
July 29, 2024
Company name: Daihatsu Diesel Mfg. Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 6023
URL: https://www.dhtd.co.jp
Representative: Yoshinobu Hotta, President
Contact: Takashi Mizushina, Director and Managing Executive Officer
Phone: +81-6-6454-2331
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on financial results: Not available
Schedule of financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2024 (April 1, 2024 to June 30, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Three months ended
Million yen%
Million yen%
Million yen%
Million yen%
June 30, 2024
20,369 15.6
1,555 245.1
1,809
174.2
1,321
182.8
June 30, 2023
17,626 25.2
450
3.2
659
15.8
467
(1.8)
(Note) Comprehensive income: Three months ended June 30, 2024: 1,320 million yen [166.2%]
Three months ended June 30, 2023: 495 million yen [(24.5)%]
Basic earnings per share
Diluted earnings per share
Yen
Yen
Three months ended
41.75
June 30, 2024
14.80
June 30, 2023
(2) Consolidated Financial Position
Total assets

Net assets

Million yen

Equity ratio

Million yen%

50,61250,84350.1
50.1

As of June 30, 2024
100,911
As of March 31, 2024
101,428(Reference) Equity: As of June 30, 2024: 50,553 million yen
As of March 31, 2024: 50,793 million yen
2. Dividends

Annual dividends
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen
Yen
Yen
Fiscal year ended
March 31, 2024
0.00
Fiscal year ending
March 31, 2025
Fiscal year ending
March 31, 2025
0.00
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

Year-end

Total
Yen

Yen

49.00

49.00

39.00

39.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 toMarch 31, 2025)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Operating profit
Ordinary profit
owners of parent
per share

Net sales
Million yen%

Million yen%

Million yen%

First half
42,000 12.8
2,900 209.1
3,100 164.7
Full year
82,000 0.3
6,000
15.5
6,200
11.8
(Note) Revision to the financial results forecast announced most recently: Yes

Million yen

2,200
4,200

%

16.5
(18.4)

Yen

69.07
131.86* Notes:(1) Significant changes in the scope of consolidation during the period: No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2024: 31,850,000 shares
March 31, 2024: 31,850,000 shares2) Total number of treasury shares at the end of the period:
June 30, 2024: 200,897 shares
March 31, 2024: 200,830 shares
3) Average number of shares during the period:
Three months ended June 30, 2024: 31,649,132 shares
Three months ended June 30, 2023: 31,569,765 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by acertified public accountant or audit corporation: None
* Explanation of the proper use of financial results forecast and other notes
The financial results forecasts and other forward-looking statements herein are based on information and certain
assumptions deemed reasonable as of the date of publication of this document. Actual results may differ
significantly from these forecasts due to a wide range of factors. Please refer to “Explanation of Consolidated
Financial Results Forecast and Other Forward-looking Information” on page 3 of the attached material for theassumptions the financial results forecasts are based on, and notes on their use.

Table of Contents

1. Qualitative Information on Quarterly Financial Results for the Period under Review..........................................2(1) Explanation of Operating Results .................................................................................................................2(2) Explanation of Financial Position .................................................................................................................3(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information .................3
2. Quarterly Consolidated Financial Statements and Primary Notes .......................................................................4(1) Quarterly Consolidated Balance Sheets ........................................................................................................4(2) Quarterly Consolidated Statements of Income and Comprehensive Income ..................................................6(3) Notes to the Quarterly Consolidated Financial Statements ............................................................................8(Notes on going concern assumption) ...............................................................................................................8(Notes in the case of significant changes in shareholders’ equity) ........................................................................8(Changes in accounting policies) ...................................................................................................................8(Notes on quarterly consolidated statements of cash flows) ................................................................................8(Segment information, etc.) .............................................................................................................................9

3. Supplementary Information ............................................................................................................................ 10(1) Status of Production, Orders Received, and Sales ...................................................................................... 10

1

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the three months under review (from April 1, 2024 to June 30, 2024), the Japanese economy has
improved in employment and income conditions due to better corporate earnings. As a result, the economy
showed a gradual recovery trend, with increasing consumer spending and an upward trend in capital investment.
Meanwhile, the economic outlook remains uncertain due to some factors such as rapid fluctuations of foreignexchange rates and soaring commodity prices affected by rise in labor and logistics costs.
Looking at the world economy, gradual growth continued as a whole although economic growth rates variedamong regions. However, the economy has remained unstable due to, for example, a slowdown of China’s
economy, political uncertainty caused by elections in some countries, and geopolitical risks.
In the shipbuilding and maritime industry, the primary industry in which the Company makes its sales, thecurrent ocean cargo volumes have expanded as the global economy grows. Accordingly, orders for new vessels
were on a recovery trend, and shipbuilding companies have ensured the amount of work on hand.
Under such a corporate environment, the Group’s sales have remained strong for dual fuel engines mainly forcar carriers as well as small- and medium-sized engines mainly for bulk carriers, while there has been a continued
solid demand for maintenance.
As a result, net sales for the three months under review increased by 15.6% year-on-year to 20,369 million
yen. In terms of profit, operating profit increased by 245.1% year-on-year to 1,555 million yen, ordinary profit
increased by 174.2% year-on-year to 1,809 million yen, and profit attributable to owners of parent increased by
182.8% year-on-year to 1,321 million yen.
Performance by business segment of the Company and the consolidated Group are as follows.
<Internal combustion engines>
1. Marine-use
Net sales increased by 17.5% year-on-year to 18,384 million yen and segment income increased by 127.0%
year-on-year to 2,463 million yen, due to increases in sales of engines and maintenance-related sales, an effectof fluctuation of foreign exchange rates, and other factors.
2. Land-use
Net sales increased by 2.6% year-on-year to 1,153 million yen and segment loss of 94 million yen wasrecorded (a segment income of 29 million yen in the previous corresponding period) due to deterioration of
the profitability of engines despite an increase in sales of engines.
Consequently, net sales for the segment increased by 16.5% year-on-year to 19,538 million yen, and segment
income increased by 112.6% year-on-year to 2,368 million yen.
<Other>
1. Industrial machinery-related
In the aluminum wheel division, both net sales and segment income declined due to a decrease in sales
volume.
2. Real estate leasing-related
In real estate leasing-related, net sales decreased slightly while segment income increased.
3. Electricity sales-related
In electricity sales-related, both net sales and segment income increased.
4. Precision parts-related
In precision parts-related, both net sales and segment income increased.
Consequently, net sales for the segment decreased by 2.5% year-on-year to 830 million yen, and segment
income increased by 30.0% year-on-year to 77 million yen.

2(2) Explanation of Financial Position
In assets as of the end of the first quarter under review, cash and deposits increased by 3,082 million yen fromthe end of the previous fiscal year to 32,699 million yen. Furthermore, inventories rose by 695 million yen fromthe end of the previous fiscal year. Meanwhile, due to progress made in collection of trade receivables at the endof the previous fiscal year, notes and accounts receivable - trade, and contract assets decreased by 3,193 million
yen. Other under current assets decreased by 901 million yen mainly due to a decrease in consumption taxes
refund receivable. As a result, total assets decreased by 516 million yen from the end of the previous fiscal year
to 100,911 million yen.
In liabilities, notes and accounts payable - trade and electronically recorded obligations - operating in total
decreased by 2,115 million yen from the end of the previous fiscal year. Meanwhile, owing to refinancing of
long-term working capital, short-term borrowings and long-term borrowings in total increased by 2,050 million
yen. As a result, total liabilities decreased by 286 million yen from the end of previous fiscal year to 50,298
million yen.
In net assets, retained earnings decreased by 229 million yen mainly due to dividends paid. As a result, total
net assets decreased by 230 million yen from the end of the previous fiscal year to 50,612 million yen. The equity
ratio at the end of the first quarter under review was 50.1% (compared with 50.1% at the end of the previous
fiscal year).
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
As to the consolidated financial results forecast for the fiscal year ending March 31, 2025, please refer to the“Notice Regarding the Revisions to the Consolidated Financial Results Forecast” announced today.
The forecasts stated herein are based on information available to the Company as of the date of publicationof this document. Actual results may differ from these forecasts due to a wide range of factors that may arise in
the future.

3

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsInventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

As of June 30, 2024

29,61632,69921,432

18,23917,6364,137(8)72,814

18,3323,235(8)72,498

8,866
6,222
5,084
768
1,171
22,113
521

8,888
6,187
5,084
704
1,199
22,064
525

1,351
4,116
512
(3)
5,977
28,613
101,428

1,424
3,884
516
(3)
5,823
28,412
100,911(Million yen)
As of March 31, 2024
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Accrued expenses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Provision for retirement benefits for directors (and otherofficers)
Retirement benefit liability
Asset retirement obligations
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
Deferred gains or losses on hedges
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

5

As of June 30, 2024

8,145
8,371
6,234
89
1,069
956
138
5,479
4,543
35,028

7,907
6,494
3,364
83
198
323
21
5,210
6,260
29,864

5,961
107

10,882
88

46

47

6,784
202
2,453
15,55650,584

6,843
196
2,376
20,43450,2982,434
2,199
45,131(93)
49,6722,434
2,199
44,902(93)
49,442

588
(88)
220
401
1,121
49
50,843
101,428

651
(229)
282
405
1,110
58
50,612
100,911(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
For the three months ended June 30(Million yen)
For the three months
ended June 30, 2023
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
Share of profit of entities accounted for using equity
methodForeign exchange gains
Outsourcing service income
Reversal of allowance for doubtful accounts
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Miscellaneous losses
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
National subsidies
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

6

For the three months
ended June 30, 2024

17,626
14,387
3,239

20,36915,467
4,901

2,065
723
2,789
450

2,455
890
3,346
1,555

2
23

1
37

40

-

132
11
0
26
237

161
4
0
87
290

20
7
28
659

33
3
37
1,809

2
86
88

23
23

3
3
745
194
83
278
467
(0)
467

7
7
1,825
230
264
494
1,330
8
1,321

Quarterly Consolidated Statements of Comprehensive Income
For the three months ended June 30(Million yen)
For the three months
ended June 30, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
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 toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

7

For the three months
ended June 30, 2024
467

1,330

2
(166)
39
99

63
(140)
62
4

54

-

28
495

(10)
1,320

496

1,311

(0)

8

(3) Notes to the Quarterly Consolidated Financial Statements(Notes on going concern assumption)
There is no relevant information.
(Notes in the case of significant changes in shareholders’ equity)
For the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)
There is no relevant information.
(Changes in accounting policies)(Application of “Accounting Standard for Current Income Taxes” and other standards)
The “Accounting Standard for Current Income Taxes” (ASBJ Statement No. 27, October 28, 2022; hereinafterreferred to as the “2022 Revised Accounting Standard”) and other standards have been applied from the beginningof the period under review.
As for the revision related to accounting category of income taxes (taxation on other comprehensive income),
the Company follows the transitional treatment provided for in the proviso to Paragraph 20-3 of the 2022 Revised
Accounting Standard and the transitional treatment provided for in the proviso to Paragraph 65-2 (2) of the“Guidance on Accounting Standard for Tax Effect Accounting” (ASBJ Guidance No. 28, October 28, 2022;
hereinafter referred to as the “2022 Revised Guidance”). These changes in accounting policies do not affect thequarterly consolidated financial statements.
In addition, the 2022 Revised Guidance has been applied from the beginning of the period under review
concerning the revision related to the changes in treatment in consolidated financial statements of losses or gains
arising from sale of subsidiaries’ shares between consolidated companies in case they are deferred for tax
purposes. These changes in accounting policies are applied retrospectively, and the quarterly consolidated financial
statements for the same period of the previous fiscal year and the consolidated financial statements for the previous
fiscal year have been adjusted retrospectively. These changes in accounting policies do not affect the quarterly
consolidated financial statements for the same period of the previous fiscal year and the consolidated financial
statements for the previous fiscal year.
(Notes on quarterly consolidated statements of cash flows)
Quarterly consolidated statements of cash flows are not prepared for the three months ended June 30, 2024.
Depreciation (including amortization of intangible assets) for the three months ended June 30 is as follows.
For the three months
For the three months
ended June 30, 2023
ended June 30, 2024
Depreciation
709 million yen
725 million yen

8(Segment information, etc.)
1. Information on net sales and profit (loss) by reportable segment
For the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)
Reportable segment
Marine-use
engines

Land-useengines

Other(Notes)*1

Total

Adjustment(Notes)*2

Total(Million yen)Amountrecorded in
Quarterly
Consolidated
Statements ofIncome(Notes)*3

Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers
Total
Segment income(Notes)15,650

1,124

16,775851

17,626-

17,626

-

-

-

-

-

-

-

15,650

1,124

16,775851

17,626-

17,626

1,084

29

1,113

59

1,173

(723)

450

*1 The “Other” category is a business segment that is not included in reportable segments, and includes the industrial
machinery-related business, the real estate leasing-related business, the electricity sales-related business and theprecision parts-related business.
*2 The adjustment for segment income represents corporate expenses, largely consisting of selling, general andadministrative expenses not attributable to the reportable segments.
*3 Segment income is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

For the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)
Reportable segment
Marine-use
engines

Land-useengines

Other(Notes)*1

Total

Adjustment(Notes)*2

Total(Million yen)Amountrecorded in
Quarterly
Consolidated
Statements ofIncome(Notes)*3

Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers

18,384

1,153

19,538830

20,369-20,369

-

-

-

-

-

-

-

Total

18,384

1,153

19,538830

20,369-20,369Segment income (loss)

2,463

(94)

2,368

77

2,446

(890)

1,555

(Notes)*1 The “Other” category is a business segment that is not included in reportable segments, and includes the industrial
machinery-related business, the real estate leasing-related business, the electricity sales-related business and theprecision parts-related business.
*2 The adjustment for segment income (loss) represents corporate expenses, largely consisting of selling, general andadministrative expenses not attributable to the reportable segments.
*3 Segment income (loss) is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

93. Supplementary Information(1) Status of Production, Orders Received, and Sales
For the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)
1) Production
Production by segment for the three months ended June 30, 2024 is as follows:(Million yen)Segment

VolumeAmountYear-on-year change

Horsepower%

Internal combustion engines
Marine-use engines

315,218

18,384

17.5

Land-use engines

5,324

1,153

2.6

-

674

(2.5)

20,212

15.7

Other
Total
(Notes)*1 Amounts are based on sales prices.
*2 The figures above do not include consumption taxes.

2) Orders received
Orders by segment for the three months ended June 30, 2024 are as follows:(Million yen)Orders received
Segment

VolumeAmountHorsepower

Order backlogs
Year-on-yearchange%Horsepower

46.5

1,644,492

30.5

103,105

61.7-

VolumeAmountYear-on-yearchange%Internal combustion engine
Marine-use engines

347,776

Land-use engines

6,734

Other

Total

(Notes)

19,831[14,744]
3,085
[83]
1,112
[-]
24,030[14,828]44.8

57,677[31,156]
9,020
[369]
1,479
[-]
68,177[31,525]

2.7
38.0
72.1
7.3

*1 Amounts are based on sales prices.
*2 Figures in brackets [ ] indicate export orders received and the balance of export orders outstanding, and are included
in totals.
*3 The figures above do not include consumption taxes.

103) Sales results
Sales by segment for the three months ended June 30, 2024 are as follows:
Segment

VolumeHorsepower

AmountExport ratio%(Million yen)
Year-on-year change%Internal combustion engine
Marine-use engines

315,218

18,384
63.2
17.5[11,616]
Land-use engines
5,324
1,153
6.8
2.6
[78]
Other
830
(2.5)
[-]
20,369
Total
57.4
15.6
[11,695](Notes) *1 Figures in brackets [ ] indicate export volume, and are included in totals.
*2 Major export destinations and compositions are as follows:
Asia (72.9%), Europe (17.6%), Latin America (5.8%), North America (3.0%), Others (0.7%)*3 The “Other” segment includes precision parts-related (537 million yen), industrial machinery-related (136 million
yen) and real estate leasing-related (156 million yen).
*4 The figures above do not include consumption taxes.

11