Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Six Months Ended June 30, 2023
[Japanese GAAP]
August 8, 2023
Company name:
Altech Corporation
Stock exchange listing: Tokyo
Code number:
4641
URL:
https://www.alpsgiken.co.jp/
Representative:
Atsushi Imamura
Nobuyuki WatanabeContact:
Phone:+81-42(774)3333
Scheduled date of filing quarterly securities report:
Scheduled date of commencing dividend payments:
Availability of supplementary briefing material on quarterly financial results:
Schedule of quarterly financial results briefing session:

President
Senior Managing Director General Manager
August 9, 2023
September 15, 2023
Yes
Yes

(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended June 30, 2023 (January 1, 2023 to June 30, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profitOrdinary profit
owners of parent
Millions of yen%
Millions of yen%
Millions of yen%
Millions of yen%Six months ended
June 30, 2023
22,820
9.7
2,380
8.5
2,470
19.3
1,814
15.3
June 30, 2022
(Note) Comprehensive income:

20,811

10.9

2,195

26.7

Six months ended June 30, 2023:
Six months ended June 30, 2022:
Basic earnings
per share

Six months ended
June 30, 2023
June 30, 2022

2,070¥¥(10.5)

1,932 million
1,640 million

Diluted earnings pershare
YenYen

90.50
77.97

-(2) Consolidated Financial Position
Total assets
Millions of yen
As ofJune 30, 2023
24,392
December 31, 2022
24,274(Reference) Equity: As of June 30, 2023:
As of December 31, 2022:

Net assets

Capital adequacy ratio

Millions of yen¥¥

1

15,99015,741
15,941 million
15,687 million

%

65.4
64.6

1,573
[[17.8%](2.5) %]1.4

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended December 31, 2022

-38.00-47.0085.00

Fiscal year ending December 31, 2023

-52.00
-

43.00

95.00

Fiscal year ending December 31, 2023
(Forecast)Year-end

Total(Note) Revision to the forecast for dividends announced most recently:
No(Note) Breakdown of the 2nd quarter dividend for the fiscal year ending December 31, 2023 :Commemorative dividend
10 yenSpecial dividend- yen
3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2023(January 1, 2023 to December 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profitOrdinary profit
owners of parent
per share
Millions of yen% Millions of yen% Millions of yen

Full year
46,6006.8
5,000
7.5(Note) Revision to the financial results forecast announced most recently:

5,060
No

* Notes:(1) Changes in significant subsidiaries during the six months ended June 30, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:Exclusion:(Company name: PANA R&D CO., LTD.
１% Millions of yen

10.9

3,420%Yen

0.1

169.62Yes))(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:
2) Changes in accounting policies other than 1) above:3) Changes in accounting estimates:
4) Retrospective restatement:

NoNo
No
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, 2023:
21,746,675 shares
December 31, 2022:21,746,675 shares
2) Number of treasury shares at the end of the period:
June 30, 2023:
1,873,928 shares
December 31, 2022:
1,600,065 shares
3) Average number of shares outstanding during the period:
Six months ended June 30, 2023:
Six months ended June 30, 2022:

20,054,756 shares
20,186,546 shares

2Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Thousands of yen)
As of December 31, 2022

As of June 30, 2023

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contractassets
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Total current assets

10,696,566

10,178,167

6,622,872

6,998,511

1,074
238,003

1,074
319,42257,597535,665

68,756713,375

18,151,780

18,279,308

3,301,101(1,737,179)

3,357,494(1,831,075)

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

1,563,922

1,526,419

Land

Buildings and structures, net

1,527,337

1,541,637

Other
Accumulated depreciation

560,786(473,658)

684,840(478,960)

Other, net

87,127

205,880

3,178,388

3,273,936

Goodwill
Other

243,122
141,115201,116
135,647

Total intangible assets

384,237

336,764

Investments and other assets
Investment securities

Total property, plant and equipment
Intangible assets

1,049,802

966,259

Shares of subsidiaries and associates
Deferred tax assets

32,218862,242

32,218979,230

Other
Accumulated depreciation

661,449(45,592)

524,577-

Other,net
Total investments and other assets
Total non-current assets
Total assets

3615,857

524,577

2,560,120

2,502,2856,122,746

6,112,986

24,274,526

24,392,294

(Thousands of yen)
As of December 31, 2022

As of June 30, 2023

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

459,100
274,391

503,142
241,033

Accounts payable - other
Income taxes payable

1,978,431
897,393

1,741,313
1,039,501

Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other

1,704,119

2,051,168

28,49715,7502,791,114

2,421,651

Total current liabilities

8,133,048

8,013,559

Long-term borrowings
Deferred tax liabilities

45,276
4,012

30,607
4,208

Retirement benefit liability
Other

177,916
172,331

165,406
188,322

Total non-current liabilities

399,535

388,5438,532,583

8,402,103

Shareholders' equity
Share capital

2,347,163

2,347,163

Capital surplus
Retained earnings

2,784,651
11,973,136

2,798,742
12,841,180

Treasury shares(1,987,433)(2,738,628)

Total shareholders' equity

15,117,517

15,248,458

385,442437,352

184,722

255,802570,165

693,155

Non-current liabilities

Total liabilities
Net assets

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

454,259

48,577

15,741,943

15,990,190

24,274,526

24,392,294

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the six months)(Thousands of yen)
For the six months
ended June 30, 2022

For the six months
ended June 30, 2023

Net sales
Cost of sales20,811,430
15,868,851

22,820,591
17,387,690

Gross profit

4,942,579

5,432,900

Selling, general and administrative expenses

2,747,528

3,052,063

Operating profit

2,195,050

2,380,837

Interest income
Dividend income

3,374
14,601

4,140
16,137

Subsidy income
Foreign exchange gains

62,391-

8,596
17,761

Other

42,46864,618

Total non-operating income

122,836

111,253

1,690

581

5,619

7,133

12,089200,000

4,789-

21,950
5,855

9,046

Non-operating income

Non-operating expenses
Interest expenses
Loss on extinguishment share-based compensationexpenses
Loss on investments in investment partnerships
Donations
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit

247,205

21,5512,070,681

2,470,539

101-

364
257,611Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Donation income

300,000-

Total extraordinary income

300,101

257,975030

Extraordinary losses
Loss on retirement of non-current assets
Impairment losses

2,782

-

Total extraordinary losses

2,782

30

Profit before income taxes

2,367,999

2,728,484

Income taxes - current
Income taxes - deferred

1,000,893(206,941)

1,013,013(95,750)

793,952

917,262

1,574,047

1,811,221

189(3,661)

1,573,857

1,814,883

Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

5

Quarterly Consolidated Statements of Comprehensive Income (For the six months)(Thousands of yen)
For the six months
ended June 30, 2022
ProfitOther comprehensive income

For the six months
ended June 30, 2023

1,574,047

1,811,221

Valuation difference on available-for-sale securities
Foreign currency translation adjustment(73,688)
139,870

51,90969,059Total other comprehensive income

66,181

120,969

Comprehensive income

1,640,228

1,932,190

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

1,636,525

1,937,872

3,703(5,681)6