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 Three Months Ended June 30, 2023
(Based on Japanese GAAP)
August 4, 2023
Company name:SE Corporation
Stock exchange listing: Tokyo
Stock code:
Representative:

3423
President

URL

https://www.se-corp.com/
Ichiro Miyahara

Inquiries:
Managing Executive Officer
Scheduled date to file Quarterly Securities Report:

Hisahiro Nojima
August 10, 2023

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–Yes

Holding of quarterly financial results meeting:

NoTEL

03-3340-5500(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)(1) Consolidated operating results (cumulative)
Net sales
Three months ended June 30, 2023
Three months ended June 30, 2022

Millions of yen
5,603
5,608Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%(0.1)
112 (47.5)
96 (56.5)
42 (70.4)
1.1
213 (62.1)
222 (61.6)
142 (60.2)

Earnings per share

Diluted earnings per share
Yen
1.40
4.74

Three months ended June 30, 2023
Three months ended June 30, 2022

Yen––(2) Consolidated financial position
Total assets
As of June 30, 2023
As of March 31, 2023

Net assets

Millions of yen
24,27925,493Equity ratioMillions of yen
10,085
10,428

Net assets per share%
41.4
40.7

Yen
332.47343.81

2. Cash dividends
Annual dividends per share

Year ended March 31, 2023
Year ending March 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
13.00

Yen
13.00

0.00

–

13.00

13.00

Year ending March 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
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
26,0132.2779 (41.7)
800 (41.9)
460 (47.1)
15.23

1

4. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2023
(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 June 30, 2023

31,256,600 shares As of March 31, 2023

31,256,600 shares

Number of treasury shares at the end of the period
As of June 30, 2023

1,048,528 shares As of March 31, 2023

1,048,528 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2023

30,208,072 shares Three months ended June 30, 2022

230,108,072 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2023

As of June 30, 2023

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

4,630,583
7,348,420

3,998,6766,098,164

Electronically recorded monetary claims - operating
Merchandise and finished goods

1,649,844
758,452

1,929,367
809,546

Work in process
Raw materials and supplies

678,279
1,674,450

648,553
1,775,361

518,470(27,671)487,955(25,222)

17,230,829

15,722,402

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

2,483,134
788,8172,489,870
839,838

Tools, furniture and fixtures, net
Land88,3903,054,542

98,484
3,054,542

341,761
88,006

319,939
218,665

6,844,652

7,021,341

72,89863,458

Other

109,023

104,097

Total intangible assets

181,922

167,555

215,2121,049,560

227,599
1,169,413

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Goodwill

Investments and other assets
Investment securities
Other
Allowance for doubtful accounts(28,254)(28,644)

Total investments and other assets

1,236,518

1,368,367

Total non-current assets
Total assets

3

8,263,093

8,557,264

25,493,923

24,279,667

(Thousands of yen)
As of March 31, 2023

As of June 30, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade

3,768,761

3,299,947

Electronically recorded obligations - operating
Short-term borrowings

2,550,907
600,5222,554,209
600,522

Current portion of long-term borrowings
Income taxes payable

1,476,214
169,506

1,393,120
116,367

Provision for bonuses
Other

176,722
1,297,164

106,645
1,435,430

Total current liabilities

10,039,798

9,506,242

Non-current liabilities
Long-term borrowings

3,468,330

3,167,612

Provision for retirement benefits for directors (and otherofficers)

572,080

579,119

Retirement benefit liability
Asset retirement obligations

434,565
171,003427,509
159,215

Other

379,609353,993

5,025,588

4,687,450

15,065,386

14,193,692

Share capital
Capital surplus

1,228,057
1,026,676

1,228,057
1,026,676

Retained earnings
Treasury shares

8,258,713(192,656)

7,908,167(192,656)

Total shareholders' equity

10,320,791

9,970,245

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

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

63,32072,224

Deferred gains or losses on hedges
Remeasurements of defined benefit plans

55
1,779

100
857

Total accumulated other comprehensive income

65,15473,18342,59042,546

10,428,536

10,085,975

25,493,923

24,279,667

Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended

Three months ended

June 30, 2022

June 30, 2023

Net sales
Cost of sales

5,608,722
4,112,920

5,603,920
4,181,158

Gross profit

1,495,801

1,422,761

Selling, general and administrative expenses

1,281,999

1,310,431

213,802112,329

Interest income
Dividend income

74
4,552

18
4,386

Commission income
Rental income from buildings

1,064
2,124

140
2,176

Reversal of allowance for doubtful accounts
Gain on sale of scraps

2,628
15,517

2,059
9,408

Operating profit
Non-operating income

Other

6,273

5,167

Total non-operating income

32,23523,357

Interest expenses
Sales discounts

6,491
5,108

8,583
3,624

Foreign exchange losses
Donations

10,625
1,037

25,045
1,262

Non-operating expenses

Other
Total non-operating expenses
Ordinary profit

399

391

23,661

38,907

222,376

96,780Extraordinary income
Gain on sale of non-current assets

8,584

5,470

Total extraordinary income

8,584

5,470

1,640

142

Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses

1,640

142

229,321102,108

Income taxes

88,74459,993

Profit140,57642,115

Profit before income taxes

Loss attributable to non-controlling interests(2,074)(43)

Profit attributable to owners of parent

142,651

42,1585

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

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2022

June 30, 2023
140,576

42,115

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(3,888)
(329)

8,904
45

Remeasurements of defined benefit plans, net of tax(1,472)(921)(5,690)8,028

Comprehensive income

Total other comprehensive income

134,886

50,143Comprehensive income attributable toComprehensive income attributable to owners of parent

136,961

50,187(2,074)(43)

Comprehensive income attributable to non-controllinginterests

6