Note: This d ocum ent is a translation of a part of the original Jap anese version an d provided for reference purp oses only. In the event of any discrepa ncy between
the Jap anese original an d this En glish translation, the Jap anese original sh all prevail.

Consolidated Financial Results
for the Nine Months Ended December 31, 2022
[Japanese GAAP]
February 09, 2023
Company name: TAIHEIYO CEMENT CORPORATION
Stock exchange listing: Tokyo,Fukuoka
Code number: 5233
URL: https://www.taiheiyo-cement.co.jp/english/index.html
Representative: Masafumi Fushihara
President and Representative Director
Contact:
Yorimasa Kuga
General Manager of General Affairs Department
Phone: +81-3‐5801‐0334
Scheduled date of filing quarterly securities report: February 10, 2023
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Nine Months Ended December 31, 2022 (April 01, 2022 to December 31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
M illion yen%
M illion yen%
M illion yen%
M illion yen%
Nine months ended
December 31, 2022
600,348
13.7
3,392(91.4)
3,526(91.5)(17,665)
December 31, 2021
527,890(19.1)
39,641(17.7)
41,701(15.5)
29,585(20.4)
36,169 million yen[(21.6) %](Note) Comprehensive income:Nine months ended December 31, 2022:
46,158 million yen[23.9%]
Nine months ended December 31, 2021:
Basic earnings
per share
Nine months ended
December 31, 2022
December 31, 2021

Diluted earnings pershare
Yen

Yen

(150.92)
250.30-(2) Consolidated Financial Position
Total assets

Net assets

M illion yen
As ofDecember 31, 2022
1,331,537
March 31, 2022
1,103,007(Reference) Equity: As of December 31, 2022:
As of March 31, 2022:

Capital adequacy ratio

M illion yen%

572,176544,799533,657 million yen
510,617 million yen

40.1
46.3

2. Dividends
1stquarter-end
Fiscal year ended March 31, 2022
Fiscal year ending March 31, 2023

2ndquarter-end

Annual dividends
3rdquarter-end

Year-end

Total

Yen

Yen

Yen

Yen

Yen-

35.00
35.00

-35.00

70.00

35.00

70.00

Fiscal year ending March 31, 2023
(Forecast)(Note) Revision to the forecast for dividends announced most recently:-1-No3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(April 01, 2022 to March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profitowners of parent
per share%

M illion yen%

M illion yen%

Yen

Full year
810,000
14.4
4,000 (91.4)(Note) Revision to the financial results forecast announced most recently:

M illion yen%

M illion yen

3,000
Yes

(94.0)(26,000)-(222.12)* Notes:(1) Changes in significant subsidiaries during the nine months ended December 31, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation): No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:Yes(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):December 31, 2022:
121,985,078 shares
March 31, 2022:
121,985,078 shares2) Total number of treasury shares at the end of the period:
December 31, 2022:
4,929,488 shares
March 31, 2022:
4,930,945 shares
3) Average number of shares during the period:
Nine months ended December 31, 2022:
Nine months ended December 31, 2021:

117,055,125 shares
118,197,229 shares* The forecasts herein are based on the information available at the date of publication of this material and assumptions at the samedate with respect to the various factors which might have impact on the future financial results. Actual results may differ materiallyfrom this forecast due to various factors.

-2-Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of March 31,2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims operating
Merchandise and finished goods

As of December 31,2022

60,271

88,923

143,178

184,795

23,35431,07534,40944,016Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts

1,277
58,502
19,863(307)

2,236
92,34927,854(371)

Total current assets

340,550

470,881

Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Other, net

153,705
170,433
156,03177,658160,899
193,141
168,305
116,874

Total property, plant and equipment

557,829

639,22080
27,485111
41,891

Total intangible assets

27,56642,003

Investments and other assets
Investment securities

Non-current assets
Property, plant and equipment

Intangible assets
Goodwill
Other

118,359

122,795

Retirement benefit asset
Other
Allowance for doubtful accounts

22,68037,905(1,883)22,54535,454(1,363)

Total investments and other assets

177,061

179,432

Total non-current assets
Total assets-3-

762,457

860,656

1,103,007

1,331,537

(Million yen)
As of March 31,2022
Liabilities
Current liabilities
Notes and accounts payable - trade

As of December 31,2022

79,685

105,628

Electronically recorded obligations - operating
Short-term borrowings
Commercial papers
Current portion of bonds payable

8,751
102,986
21,000-13,977
159,242
53,00010,000

Income taxes payable
Provision for bonuses
Other provisions
Other

4,198
6,246
213
86,685

3,429
2,941
319
100,271

Total current liabilities

309,768

448,809

Non-current liabilities
Bonds payable

60,00050,000Long-term borrowings
Retirement benefit liability
Provision for retirement benefits for directors (andother officers)
Provision for special repairs

86,60022,701

121,393
24,805

512

490

258

247

Provision for product compensation
Other provisions
Asset retirement obligations
Other

3,330
478
8,703
65,855

4,551
529
9,608
98,924

Total non-current liabilities

248,440

310,550

558,208759,360

86,17449,729384,154

86,17449,724358,424

Total liabilities
Net assets
Shareholders' equityShare capital
Capital surplus
Retained earnings
Treasury shares(13,766)(13,734)

Total shareholders' equity

506,291

480,589

11,737
6
4,897(11,322)

11,5900
4,897
38,946(992)(2,365)

4,325

53,06834,181

38,518

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
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-4-544,799

572,176

1,103,007

1,331,537

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the nine months)(Million yen)
For the nine months
ended December 31,2021

For the nine months
ended December 31,2022

Net sales
Cost of sales

527,890393,205

600,348
494,006

Gross profit

134,685

106,342

Selling, general and administrative expenses

95,044

102,949

Operating profit

39,641

3,392

344
1,159

361
1,407

2,209

447

2,294

1,925

6,008

4,141

1,987
1,959

1,921
2,085

Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Other

3,947

4,007

Ordinary profit

Total non-operating expenses

41,701

3,526

Extraordinary income
Gain on disposal of non-current assets
Gain on sale of investment securities

6,121
441

642
1,165

Other

191

188

6,754

1,996

Extraordinary losses
Loss on disposal of non-current assets

2,752

2,367

Product compensation expenses
Other

3,584

1,230831Total extraordinary losses

6,336

4,428

Total extraordinary income

Profit before income taxes

42,120

1,094

Income taxes

10,974

17,952

Profit (loss)

31,145(16,858)

Profit attributable to non-controlling interests

1,560

807

Profit (loss) attributable to owners of parent

29,585(17,665)-5-Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Million yen)
For the nine months
ended December 31,2021

For the nine months
ended December 31,2022

Profit (loss)

31,145(16,858)

Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment327
013,854(36)(6)
48,886(575)(1,362)

1,405

5,546

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

15,01353,027

Comprehensive income

46,15836,169Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

42,44731,0773,710

5,091-6-Quarterly Consolidated Segment Information
Reportable Segments
For the Nine Months Ended December 31, 2021
(Million yen)
Reportable Segments
CementBusiness

MineralResources
Business

Environmental
Business

Construction
Materials
Business

OtherTotal

Consolidated
Total

Adjustment

Total

Net sales
Sales to outside
customers

341,31343,926

51,20546,942

483,387

44,502527,890-

527,890

Inter-segment
sales
Total

5,497

13,910

2,349

1,136

22,894

20,12143,016(43,016)-

346,81157,83753,55548,078506,282

64,624570,906(43,016)

527,890

Segment income

23,065

4,7124,920

2,972

35,6694,301

39,970(329)

39,641For the Nine Months Ended December 31, 2022
(Million yen)
Reportable Segments
CementBusiness

MineralResources
Business

Environmental
Business

Construction
Materials
Business

Other

Total

Consolidated
Total

Adjustment

Total

Net sales
Sales to outside
customers

404,746

46,362

55,612

48,941555,663

44,685600,348-600,348

Inter-segment
sales
Total

5,269

16,0403,562

672

25,54518,76544,311(44,311)-410,016

62,402

59,174

49,614581,208

63,451

644,659(44,311)600,348

Segment income(9,854)

4,491

4,458

1,206

302

2,737

3,039

352

3,392

-7-