Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Consolidated Financial Results
for the Six Months Ended September 30, 2022
(Under Japanese GAAP)
October 28, 2022
Company name:

EIZO Corporation

Stock exchange listing: Tokyo
Stock code:
6737

URL

https://www.eizo.co.jp/

Representative:

President
Director, Operating Officer, and Senior

Yoshitaka Jitsumori

Inquiries:

Manager, Accounting & Finance, & Investor Masaki Ebisu
Relations

TEL

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

November 10, 2022
November 30, 2022

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
Yes

076-275-4121(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Six months ended September 30, 2022
36,566 (16.4)
2,212 (66.5)
2,508 (64.3)
3,127 (39.3)
Six months ended September 30, 2021
43,74338.0
6,610 349.0
7,034 252.0
5,152 283.0(Note) Comprehensive income
For the six months ended September 30, 2022: ¥381million[ (95.9) %]For the six months ended September 30, 2021: ¥9,348 million[ 32.2 %]Earnings per share

Diluted earnings per shareYen
148.16241.66Six months ended September 30, 2022
Six months ended September 30, 2021

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
As of September 30, 2022
150,839
As of March 31, 2022
155,459(Reference) Equity
As of September 30, 2022: ¥115,633 million
As of March 31, 2022: ¥118,582 million

Equity ratio

Millions of yen
115,633
118,582

Net assets per share%
76.7
76.3

Yen
5,566.12
5,562.01

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
60.00
60.00

Yen–

Yen
60.00

Yen
120.00–65.00

125.00Year ending March 31, 2023 (Forecast)(Note) Revisions to the forecast of cash dividends most recently announced: None

1Total3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
82,000(5.5)
5,400 (52.2)
6,200 (48.8)
5,700 (26.9)
273.20(Note) Revisions to the forecasts of consolidated financial results most recently announced: Yes*Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2022

21,981,160 shares As of March 31, 2022

22,731,160 shares

Number of treasury shares at the end of the period
As of September 30, 2022

1,206,706 shares As of March 31, 2022

1,411,088 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2022

21,105,489 shares Six months ended September 30, 2021

21,320,178 shares*Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
*Proper use of earnings forecasts, and other special matters(Notice concerning forward-looking statements)
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. As such, they do not constitute the Company’s guarantee that such results
would be achieved. Actual business and other results may differ substantially due to various factors.
(Explanatory material for financial results)
Explanatory material for financial results is disclosed through TDnet as well as posted on the Company’s website on October 28, 2022.

2Quarterly consolidated financial statements
Consolidated balance sheets
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims operating
Securities
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
Intangible assets
Investments and other assets
Investment securities
Other
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Income taxes payable
Provision for bonuses
Provision for product warranties
OtherTotal current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Provision for recycling
Retirement benefit liability
OtherTotal non-current liabilities
Total liabilities

3(Millions of yen)
As of September 30, 2022

13,887

11,30523,035

15,813

1,778

1,401

8,799
10,0381,730
19,9801,362(102)80,5107,30014,844
2,324
26,8052,159(101)
81,852

20,173841

21,084
777

52,824
1,108
53,93374,948155,459

46,025
1,099
47,124
68,987150,839

7,522
2,050
2,398
1,696
2,177
4,880
20,726

9,080
2,134
923
1,356
2,173
5,073
20,740

1,025

996

71

71

634
3,014
11,404
16,15036,876

605
2,950
9,842
14,46535,206

As of March 31, 2022
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4(Millions of yen)
As of September 30, 2022

4,425
4,313
82,039(2,664)
88,1144,425
4,317
82,404(3,237)
87,91028,801

24,5311,440
22630,467
118,582
155,459

3,022
168
27,722
115,633
150,839

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Six months ended
Six months ended
September 30, 2021
September 30, 2022
Net sales
43,74336,566
Cost of sales
27,414
24,649Gross profit
16,32911,916
Selling, general and administrative expenses
9,719
9,704
Operating profit
6,610
2,212
Non-operating income
Interest income
46
Dividend income
487
548
Other
40
91
Total non-operating income
532
646
Non-operating expenses
Interest expenses
1111
Foreign exchange losses
94
324
Other
214
Total non-operating expenses
108350Ordinary profit
7,034
2,508Extraordinary income
Gain on sale of investment securities
296
1,943
Total extraordinary income
296
1,943
Extraordinary losses
Loss on sale of investment securities–
5
Total extraordinary losses–
5Profit before income taxes
7,331
4,446
Income taxes - current
2,457
1,230
Income taxes - deferred(278)
88
Total income taxes
2,178
1,318
Profit5,1523,127Profit attributable to owners of parent
5,152
3,127

5

Consolidated statements of comprehensive income (cumulative)

ProfitOther comprehensive income
Valuation difference on available-for-sale securitiesForeign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to noncontrolling interests

6

Six months ended
September 30, 2021
5,152(Millions of yen)Six months ended
September 30, 2022
3,127

4,110
104(18)
4,196
9,348

(4,269)1,582(57)(2,745)
381

9,348

381

––

Consolidated statements of cash flows(Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in provisions
Increase (decrease) in retirement benefit liability
Interest expenses
Loss (gain) on sale of investment securities
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 andintangible assets
Purchase of short-term and long-term investment
securities
Proceeds from sale and redemption of short-term andlong-term investment securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of long-term borrowings
Repayments of lease liabilities
Purchase of treasury shares
Dividends paid
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
Cash and cash equivalents at end of period

7

7,331
1,108
189
(59)
(24)
11(296)
(837)
1,243
2,352
(1,075)
9,942
491
(10)
(1,738)
8,684

4,446
1,079
–
(425)
(152)
11
(1,938)
8,019(11,297)
1,269(1,769)
(756)
556
(13)
(2,506)(2,720)

(955)

(826)

(300)

(1)

426

2,604

(8)
(838)

3
1,780

(65)
(112)
(0)
(1,278)(1,457)(69)(105)(2,061)(1,279)(3,516)

42374

6,432
18,882
25,315(4,082)
22,38718,305