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.

Summary of Consolidated Financial Results
for the Six Months Ended September 30, 2022
(Based on Japanese GAAP)
November 4, 2022
Company name:
C.I. TAKIRON Corporation
Stock exchange listing: Tokyo
Stock code:
Representative:

4215
URL https://www.takiron-ci.co.jp/
Representative Director President
Kazuya Saito

Inquiries:

General Manager Finance & Accounting
Dept.

Shuji Kondo

TEL

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

November 11, 2022
December 5, 2022

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

Yes
Yes

03-6711-3714(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
72,5153.0
3,090 (35.5)
3,318 (33.6)
1,862 (46.5)
Six months ended September 30, 2021
70,417
9.7
4,792
30.4
4,998
32.1
3,480
66.8
Earnings per share

Diluted earnings per share

Yen
19.16
35.76

Six months ended September 30, 2022
Six months ended September 30, 2021

Yen––(2) Consolidated financial positionTotal assets

Net assets

Millions of yen
153,196
147,061

As of September 30, 2022
As of March 31, 2022

Equity ratio

Millions of yen
93,73892,055

Net assets per share
%
59.9
61.4

Yen
943.03928.28

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
11.00
11.00

Yen–

Yen
16.00

Yen
27.00

–

11.00

22.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Net sales
Full year

Millions of yen
150,000

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%Yen
5.7
8,200(5.2)
8,400(7.5)
5,400 (18.9)
55.53

1

4. 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:

Yes(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:

NoNo

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

97,553,655 shares As of March 31, 2022

97,500,000 shares

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

277,416 shares As of March 31, 2022

284,271 shares

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

97,233,564 shares Six months ended September 30, 2021

297,330,681 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of September 30, 2022

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

7,790
35,534

6,706
33,603

Electronically recorded monetary claims - operating
Merchandise and finished goods

11,584
14,056

12,697
16,018Work in process
Raw materials and supplies

3,237
6,591

3,759
8,402

Deposits paid
Other

14,008
1,625

17,115
1,645

(23)

(66)

94,403

99,881

14,87015,143

Machinery, equipment and vehicles, net
Land

9,781
12,914

10,696
12,932

Construction in progress
Other, net

1,243
2,584

542
2,812Total property, plant and equipment

41,394

42,126

Intangible assets
Investments and other assets

2,485

2,614

Investment securities
Deferred tax assets

3,166
3,026

2,963
2,883

Other
Allowance for doubtful accounts

2,586(2)

2,728
(2)

Total investments and other assets

8,777

8,573

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net

Total non-current assets
Total assets

352,657

53,314147,061

153,196(Millions of yen)
As of March 31, 2022

As of September 30, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade25,78927,773

Electronically recorded obligations - operating
Short-term borrowings

5,402
3,914

5,883
5,660

Income taxes payable
Provision for bonuses

983
2,260

795
2,182

Other

6,377

6,523

Total current liabilities

44,72848,818

706
5,749

788
5,601

158
394

158
762

Non-current liabilities
Deferred tax liabilities
Retirement benefit liability
Asset retirement obligations
Provision for product warranties
Other

3,267

3,327

Total non-current liabilities

10,27710,638

55,00559,457

Share capital
Capital surplus

15,18930,981

15,20430,996

Retained earnings
Treasury shares

43,175(178)

43,478(173)

Total shareholders' equity

89,16789,505

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

76

(73)

Deferred gains or losses on hedges
Foreign currency translation adjustment

(12)
625

56
1,936

Remeasurements of defined benefit plans

387

309

1,076

2,229

1,811

2,004

Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

492,055

93,738147,061

153,196

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
Cost of sales

70,41749,99472,51553,296Gross profit

20,423

19,218Selling, general and administrative expenses

15,63016,127

Operating profit

4,792

3,090

Dividend income
Rental income

61786570Other

208

212

Total non-operating income

348

348

Interest expenses
Rental costs

3141

3137

Other

69

51

Non-operating income

Non-operating expenses

Total non-operating expenses

142

120

4,998

3,318

534

Gain on sale of investment securities
Gain on termination of retirement benefit plan

92––
131

Gain on liquidation of subsidiaries and associates

–

185

146

321

14–

63391

Loss on COVID-19–

140

Total extraordinary losses

14596

Profit before income taxes

5,131

3,044

Income taxes

1,529

1,136

Profit

3,601

1,907

Ordinary profitExtraordinary income
Gain on sale of non-current assets

Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Provision for product warranties

Profit attributable to non-controlling interests
Profit attributable to owners of parent

5121

45

3,480

1,862

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Six months ended

Six months ended

September 30, 2021

September 30, 2022

3,601

1,907

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(55)
0(150)
69

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

124
(29)

1,551
(77)

Total other comprehensive income

39

1,392

3,640

3,300

3,505

3,015

135

284

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6

Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit before income taxes

Six months ended

Six months ended

September 30, 2021

September 30, 2022
5,131

3,044

2,552(239)

2,607
(207)

Increase (decrease) in provision for bonuses
Loss (gain) on sale of investment securities

54(92)(78)–

Loss (gain) on disposal of non-current assets
Interest and dividend income

(39)
(76)

59
(79)

Interest expenses
Decrease (increase) in trade receivables

31
1,843

31
1,314

Decrease (increase) in inventories
Increase (decrease) in trade payables

(782)
1,459

(3,633)
2,230

Increase (decrease) in accrued consumption taxes
Increase (decrease) in deposits received

(884)
(616)

(72)
(9)

––

(185)
367

Depreciation
Increase (decrease) in retirement benefit liability

Loss (gain) on liquidation of subsidiaries and associates
Increase (decrease) in provision for product warranties
Other, net(1,685)(317)

Subtotal

6,654

5,072

Interest and dividends received

76

79

Interest paid
Income taxes refund (paid)

(43)
222

(33)
(671)

6,910

4,446

Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment(2,100)(1,614)

Proceeds from sale of property, plant and equipmentPurchase of intangible assets

61
(214)

4(487)

Purchase of investment securities
Proceeds from sale of investment securities

(9)
435

(8)
–

840
(3,543)–(3,107)

–

185

(292)

(225)

(4,822)(5,253)

Net increase (decrease) in short-term borrowings
Repayments of lease liabilities

733
(80)

1,155
(28)

Repayments of long-term borrowings
Purchase of treasury shares

(161)
(106)

–
(0)

(1,169)(105)(1,559)
(92)

(890)

(525)

Proceeds from collection of short-term loans receivable
Decrease (increase) in deposits paidProceeds from the liquidation of subsidiaries andassociates
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities

Dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

36248

Net increase (decrease) in cash and cash equivalents

1,234(1,083)

Cash and cash equivalents at beginning of period

6,712

7,790

Decrease in cash and cash equivalents resulting fromexclusion of subsidiaries from consolidation(317)–Cash and cash equivalents at end of period

7,630

6,706

7