TRANSLATED
February 14, 2023

Consolidated Financial Results
for the Fiscal Year Ended December 31, 2022
(January 1, 2022 to December 31, 2022)
Company name:
Stock code:
Stock exchange listing (Section):
Head office:
URL:
President:
Contact:

SIIX Corporation
7613
Tokyo Stock Exchange, (Prime Market)
Osaka, Japan
https://www.siix.co.jp
Koji Yanase
Seiji Ono
Director, Executive Officer and General Manager,
Finance and Accounting Department+81-6-6266-6415
March 30, 2023
March 31, 2023
March 30, 2023

Telephone:
Annual Meeting of Shareholders:
Scheduled date of payment of cash dividends:
Scheduled date of filing financial statement:(Amounts rounded down to million yen)

1. Consolidated Financial Results (January 1, 2022 – December 31, 2022)(1) Consolidated Results of Operations(The percentages in the table below represent changes from the previous fiscal year)
Net sales

Operating income

YoY change(%)

Million yen

Ordinary income

YoY change(%)

Million yen

YoYchange (%)

Million yen

Year ended Dec. 2022

277,031

22.1

8,929

80.2

8,337

40.5

Year ended Dec. 2021

226,833

24.9

4,954

11.3

5,934

33.5

Profit attributable toowners of parent

Net income per share (basic)

Net income per share (diluted)

Yen

Million yen

YoY change(%)

Million yen
Year ended Dec. 2022

4,733

3.8

100.11

99.98

Year ended Dec. 2021

4,561

164.6

96.53

96.39

Return on equity

Ratio of ordinary income tototal assets

Ratio of operating income tonet sales%%%Year ended Dec. 2022

6.6

4.4

3.2

Year ended Dec. 2021

7.5

3.8

2.2

(note) Comprehensive income
Year ended December 2022:
Year ended December 2021:(Reference) Equity in net earnings (losses) of affiliates
Year ended December 2022:
Year ended December 2021:

12,405million yen (y/y 9.6%)
11,324 million yen (y/y ―%)-7million yen-33million yen(2) Consolidated Financial Position
Total assets

Net assets

Capital-to-asset ratio

Net assets per share

Million yen

Million yen%

Yen

Year ended Dec. 2022

205,170

77,38937.5

1,625.55

Year ended Dec. 2021

169,92166,36938.8

1,393.92(Reference) Stockholders’ equity:Year ended December 2022:
Year ended December 2021:

76,891million yen
65,879 million yen―1―TRANSLATED(3) Consolidated Cash FlowsNet cash provided by (used in)Operating activities

Investing activities

Financing activities

Million yen

Million yen

Million yen

Cash and cash
equivalents at fiscalyear end
Million yen

Year ended Dec. 2022

5,567

(8,892)

6,676

13,652

Year ended Dec. 2021

(8,106)(7,765)

869

9,315

2. Dividends
Annual dividends per share(Base date)

1st quarter

Year ended Dec. 2021

―

15.00

―

15.00

30.00

Year ended Dec. 2022

―

15.00

―

16.00

31.00

Year ended Dec. 2023
(forecasts)

―

16.00

―

16.0032.00(Base date)

2nd quarterYen

3rd quarter

Term-end
Yen

Annual dividends
Yen

Amount of dividend (for the year)

Dividend ratio to net income(consolidated)

Dividend ratio to net assets(consolidated)

Million Yen%%

Year ended Dec. 2021

1,417

31.1

2.3

Year ended Dec. 2022

1,466

31.0

2.1

Year ended Dec. 2023
(forecasts)

19.7

─

─

3. Consolidated Business Performance Forecasts for the Year Ending December 2023
(January 1, 2023 – December 31, 2023)(The percentages in the table below represent changes from the previous fiscal year)
Net sales
Million yen
Full year

Operating income

YoY change(%)

300,000

Profit attributable to owners ofparent
Million yen
Full year

7,700

YoY change(%)

Million yen

8.3

Ordinary income

11,30026.5

Million yen
10,200

YoYchange (%)
22.3

Net income per share (basic)

YoY changeYen

(%)

62.7

162.78(note) The company discloses consolidated business performance for full year only because the company manages business performanceon an annual basis.

―2―TRANSLATED＊ Note(1) Transfer of important subsidiaries during the period (transfer of specific subsidiaries in association with changes in thescope of consolidation):
None(2) Changes in accounting policy and accounting estimate, and restatement related to consolidated financial statements(i) Changes associated with the revision of accounting standards: Change(ii)Changes other than those described in (i):None(iii)Changes in accounting estimate:None(iv)Restatement:
None(3) Number of outstanding shares (common shares)(i) Number of outstanding shares at the end of the fiscal year (including treasury shares):Year ended December 2022:
Year ended December 2021:

50,400,000 shares
50,400,000 shares(ii) Number of treasury shares at the end of the fiscal year:
Year ended December 2022:
Year ended December 2021:

3,097,775 shares
3,137,933 shares(iii)Average number of shares outstanding:Year ended December 2022:
Year ended December 2021:

47,288,750shares
47,260,524 shares(Reference)

1. Non-consolidated Financial Results (January 1, 2022– December 31, 2022)(1) Non-consolidated Results of Operations(The percentages in the table below represent changes from the previous fiscal year)
Net sales

Operating incomeOrdinary income

Million yen

YoYchange (%)

YoYchange (%)

Year ended Dec. 2022

99,2987.2

1,162―

2,576(71.8)

Year ended Dec. 2021

92,634

23.7

104―

9,148

246.7

Million yen

Net income

Million yen

YoY change(%)

Net income per share (basic)

Net income per share (diluted)

Yen

Million yen

Million yen

YoYchange (%)

Year ended Dec. 2022

(718)―(15.20)―

Year ended Dec. 2021

9,120

293.2

192.99192.73(2) Non-consolidated Financial Position
Total assets

Net assets

Capital-to-asset ratio

Net assets per share

Million yen

Million yen%

Yen

Year ended Dec. 2022

71,943

18,81226.1

396.29Year ended Dec. 2021

68,737

20,92630.3

441.13(Reference) Stockholders’ equity:Year ended December 2022: 18,745million yen
Year ended December 2021: 20,848 million yen*These financial statements have not been prepared for the purpose of review procedures.
*Explanations and other special notes concerning the appropriate use of business performance forecasts
The consolidated business performance forecasts given above are based on the information available at the current time andassumptions of supposable market trends, etc., and thus may greatly differ from future performance for a variety of future reasons.

―3―TRANSLATED■ Consolidated Financial Statements(1) Consolidated Balance Sheets(JPY in millions)
As of Dec. 31, 2021

As of Dec. 31,2022

AssetsCurrent assets
Cash and deposits

9,484

13,793

Notes and accounts receivable-trade47,278－−55,091

Merchandise and finished goods

22,261

27,738Work in process

1,903

2,264

Raw materials and supplies

34,07543,425

Other

7,845

8,027

Allowance for doubtful accounts

(50)

(64)

122,797

150,275

27,67331,471

Accumulated depreciation(10,286)(12,957)

Buildings and structures, net

17,386

18,513

Machinery, equipment and vehicles

45,85856,083

Accumulated depreciation(33,427)(40,343)

Machinery, equipment and vehicles, net

12,431

15,739

3,977

4,632

(3,079)(3,588)

897

1,043

3,893

4,644

981

2,867

3,322

4,154

Accumulated depreciation(1,149)(1,605)

Other, net

2,173

2,549

37,76445,358

Software

2,075

2,178

Other

514

342

2,590

2,520

Investment securities

2,385

2,227

Investments in capital

957

1,015

Long-term loans receivable

6365

Assets for retirement benefits

430

322

2,058

2,189

Other

976

1,298

Allowance for doubtful accounts

(102)

(103)

6,768

7,015

47,12354,894

169,921205,170

Notes and accounts receivable - trade, and contract assets

Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures

Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
LandConstruction in progress
Other

Total property, plant and equipment
Intangible assets

Total intangible assetsInvestments and other assets

Deferred tax assets

Total Investments and other assets
Total noncurrent assets
Total assets―4―

TRANSLATED(JPY in millions)

As of Dec. 31, 2021

As of Dec. 31, 2022

Liabilities
Current liabilities
Accounts payable-trade37,29841,733

Short-term loans payable

31,561

36,136

Income taxes payable

1,667

2,065

Contract liabilities－3,631

9,306

13,031

79,83396,598

Bonds payable

10,00010,000Long-term loans payable

8,446

15,125

668

642

Deferred tax liabilities

2,848

3,247

Other

1,7542,167

23,71831,182

103,551

127,780

Share capital

2,144

2,144

Capital surplus

5,630

5,594

Retained earnings

57,07460,389Treasury shares(5,945)(5,866)

Total shareholders' equity

58,90262,261

528

347

6,404

14,276

Adjustment for retirement benefits

44

6

Total accumulated comprehensive income

6,976

14,630

Subscription rights to shares

7767

Non-controlling interests

412

430

Total net assets

66,36977,389Total liabilities and net assets

169,921205,170

Other
Total current liabilities
Noncurrent liabilities

Liabilities for retirement benefits

Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity

Accumulated comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment―5―

TRANSLATED(2) Consolidated Statements of Income(JPY in millions)
1st Jan 2021
- 31st Dec 2021

Net sales

1st Jan 2022
- 31st Dec 2022

226,833

277,031206,712251,239

20,12025,791

15,165

16,862

4,954

8,929

Interest income

2635

Dividends income

191

46

Foreign exchange gains

286－Subsidy income

201

195

Gain on sales of goods328

323

Gain on sales of scrap

172

203

Other373

298

1,579

1,103

284

823

Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income

Total non-operating income
Non-operating expenses
Interest expenses
Equity in loss of affiliates

337

Foreign exchange losses－483

Purchase of goods

148

172

Other

133

207

599

1,695

5,934

8,337

0000

COVID-19 related loss－

377

Total extraordinary loss

－377

Income before income taxes

5,935

7,960

Income taxes-current

2,273

2,751

Income taxes-deferred(908)478

Total income taxes-current

1,364

3,229

4,570

4,730

8(3)

4,561

4,733

Total non-operating expenses
Ordinary income
Extraordinary income
Gain on reversal of share acquisition rights
Total extraordinary income
Extraordinary loss

Net Income
Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent―6―

TRANSLATED

Consolidated Statements of Comprehensive Income(JPY in millions)
1st Jan 2021
- 31st Dec 2021
Net Income

1st Jan 2022
- 31st Dec 2022
4,570

4,730

439

(181)

Foreign currency translation adjustment

6,060

7,823

Remeasurements of defined benefit plans

167(52)Equity equivalent of equity method affiliate

8785

Total other comprehensive income

6,754

7,675

Comprehensive income

11,324

12,405

11,266

12,38757

18

Other comprehensive income
Valuation difference on available-for-sale securities(Content)
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests―7―

TRANSLATED(3) Consolidated statements of changes in net assets
Previous year (1st Jan 2021 – 31st Dec 2021)(JPY in millions)Sharecapital
Balances at December 31, 2020

2,144

Shareholders' equity
CapitalRetained
Treasury
surplusearnings
shares
5,631

53,980(5,949)Total
55,806

Changes of items during theperiod
Dividends from surplus(1,417)(1,417)

Net income attributable toowners of parent

4,561

4,561

Purchase of treasury shares(1)

Disposal of treasury shares
Change of scope ofconsolidation
Net changes of items otherthan shareholders' equity
Total changes of items during
the period
Balances at December 31, 2021

(0)

(0)

32(50)(50)―(1)

3,0933

3,095

2,144

5,630

57,074(5,945)58,902

Accumulated other comprehensive income
Valuationdifference on
availablefor-salesecurities
Balances on December 31, 2020

90

Foreigncurrencytranslation
adjustment

Total
Remeasurements accumulatedof definedotherbenefits plans comprehensive
income

323

(136)

277

Subscription
rights toshares

Noncontrollinginterests

Total net
assets59354

56,498Changes of items during theperiod
Dividends from surplus(1,417)

Net income attributable toowners of parent

4,561

Purchase of treasury shares(0)

Disposal of treasury shares

2

Change of scope ofconsolidation
Net changes of items otherthan shareholders' equity
Total changes of items during theperiod
Balances on December 31, 2021

(5)

(5)

(55)

438

6,085

180

6,704

1757

6,780

438

6,080

180

6,699

17

57

9,870

528

6,404

44

6,976

77

412

66,369―8―

TRANSLATEDCurrent year (1st Jan 2022– 31st Dec 2022)(JPY in millions)Shareholders' equity

Balances on December 31, 2021

SharecapitalCapitalsurplusRetainedearnings

Treasuryshares

Total

2,144

5,630

57,074(5,945)58,902

Changes of items during theperiod
Dividends from surplus(1,418)(1,418)Net income attributable toowners of parent

4,733

4,733

(35)

Disposal of treasury shares
Net changes of items otherthan shareholders' equity
Total changes of items during
the period

79
0Balances on December 31, 2022

430―(35)

3,315

79

3,358

2,144

5,594

60,389(5,866)62,261

Accumulated other comprehensive incomeBalances on December 31, 2021

Valuationdifference
on availablefor-salesecurities

Foreigncurrencytranslation
adjustment

Remeasurementsof defined
benefits plans

528

6,404

44

Total
Subscription
NonTotal net
accumulated
rights tocontrolling
assetsothersharesinterests
comprehensive
income
6,976

77

412

66,369Changes of items during theperiod
Dividends from surplus-1,418Net income attributable toowners of parent

4,733

Disposal of treasury shares

43

Net changes of items otherthan shareholders' equity
Total changes of items during theperiod
Balances on December 31, 2022

(181)

7,872

(37)

7,653

(10)

18

7,661

(181)

7,872

(37)

7,653

(10)

18

11,020347

14,276614,630

67430

77,389―9―

TRANSLATED(4) Consolidated Statements of Cash Flows(JPY in millions)
1st Jan 2021
- 31st Dec 2021
Net cash provided by (used in) operating activities
Income before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Interest and dividends income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using equity method
Decrease (increase) in trade receivables
Decrease (increase) in trade receivables and Contract assets
Decrease (increase) in inventories
Decrease (increase) in consumption taxes refund receivable
Increase (decrease) in trade payables
Increase (decrease) in advances received
Increase (decrease) in Contract liabilities
OtherSubtotal
Interest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investment activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Proceeds from sales of investment securities
Payments of loans receivable
Proceeds from collection of loans receivable
Proceeds from divestments
Payments for acquisition of shares in subsidiaries and affiliates
Proceeds from subsidy income
OtherNet cash provided by (used in) investment activities
Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term borrowings
Repayment of long-term loans borrowings
Purchase of treasury shares
Dividends paid
Other
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 in cash and cash equivalents from newly consolidated subsidiary
Cash and cash equivalents at end of period―10―

1st Jan 2022
- 31st Dec 2022

5,935
6,129
(420)
(217)
284
(904)
33
(7,428)－(18,110)
(109)
7,794
(137)
－
1,597
(5,554)238(294)(2,496)(8,106)

7,960
7,714
9(81)
823
(895)
7－
(3,859)(9,213)
(145)
2,111
－
2,833
1,451
8,717
82(735)(2,495)
5,567(7,443)40(688)119(31)
30－(1)
163
45(7,765)(8,671)8(434)
－(40)
3750－
120
35
(8,892)

5,732
2,591
(5,584)(0)(1,417)
(452)
869
1,309
(13,693)
22,968
40
9,315

2,136
12,728(6,257)－(1,418)
(512)
6,676
985
4,336
9,315
－
13,652

TRANSLATED■Information of net sales, income or loss, assets, and other items by reportable segment
Previous year (1st Jan 2021 – 31st Dec 2021)
Reportable Segment
Japan

China

ASEAN

EuropeAmericas

Total(JPY in millions)
Consolidated
incomeAdjustment
statement(note 1)
(note 2)

Sales
Sales to third parties

48,74860,80664,953

14,67337,613

226,79537

226,833

Intersegment sales and transfers

43,88622,245

19,148966

7,847

94,094(94,094)―

92,634

83,052

84,102

15,64045,461

320,890(94,056)

226,833

125

1,730

3,318

(123)

385

5,437

(482)

4,954

68,78351,37453,988

12,95429,342

216,443(46,521)

169,921

Depreciation

401

2,236

2,169

525

681

6,014

115

6,129

The increase of property, plant andequipment and intangible assets

221

4,390

2,426

695

1,351

9,085

429

9,515

Total
Segment income or loss
Segment assets
Other(note 1) Adjustment is as following;
1. The amount of adjustment in sales to third parties, 37 million yen, is sales in Corporate segment.
2. The amount of adjustment in inter-segment sales and transfer, -94,094 million yen, is the amount of elimination of internal transactions between segments.
3. The amount of adjustment in segment income, -482million yen, is the amount of elimination of internal transactions between segments.
4. The amount of adjustment in segment asset, -46,521 million yen, is the amount of elimination of internal transactions between segments.
5. The amount of adjustment in depreciation, 115 million yen, is the amount of elimination of internal transactions between segments.
6. The amount of adjustment in the increase of property, plant and equipment and intangible assets, 429million yen, is the amount of elimination ofinternal transactions between segments.
(note 2) Operating income or loss refers to elimination of intersegment transactions adjustment.

Current year (1st Jan 2022 – 31st Dec 2022)
Reportable Segment
JapanChinaASEANEuropeAmericasTotal(JPY in millions)
Consolidated income
Adjustment
statement(note 1)
(note 2)

Sales
Sales to third parties

50,62675,03986,42015,822

48,915

276,825206

277,031

Intersegment sales and transfers

48,672

21,654

22,575

1,509

13,950108,362(108,362)

―

Total

99,29896,693

108,995

17,33262,866385,187(108,155)

277,031

Segment income or loss

1,162

1,533

4,856

(632)

2,276

9,196

(267)

8,929

Segment assets

74,46257,47673,062

14,713

34,665

254,380(49,210)205,170

Depreciation

449

2,634

2,722

618

1,126

7,550

163

7,714The increase of property, plant andequipment and intangible assets

140

2,870

4,977

479

1,985

10,452393

10,845

Other(note 1) Adjustment is as following;
1. The amount of adjustment in sales to third parties, 206million yen, is sales in Corporate segment.
2. The amount of adjustment in inter-segment sales and transfer, -108,362 million yen, is the amount of elimination of internal transactions between segments.
3. The amount of adjustment in segment income, -267million yen, is the amount of elimination of internal transactions between segments.
4. The amount of adjustment in segment asset, -49,210million yen, is the amount of elimination of internal transactions between segments.
5. The amount of adjustment in depreciation, 163million yen, is the amount of elimination of internal transactions between segments.
6. The amount of adjustment in the increase of property, plant and equipment and intangible assets, 393million yen, is the amount of elimination ofinternal transactions between segments.
(note 2) Operating income or loss refers to elimination of intersegment transactions adjustment.

―11―