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 Nine Months Ended December 31, 2022
(Based on Japanese GAAP)
February 14, 2023
Company name:
SAN-AI OBBLI CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

8097
URL https://www.san-ai-obbli.com/
Representative Director, President
Yukio Tsukahara

Inquiries:

General Manager, General Accounting
Department

Eiichi Nonaka

TEL

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

February 14, 2023–

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

03-6880-3100(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changesProfit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended December 31, 2022
478,279
11.7
10,09023.7
10,804
19.9
7,416
36.4
Nine months ended December 31, 2021
428,310
28.3
8,154
29.2
9,010
23.4
5,438
7.8
Earnings per share

Diluted earnings per shareYen
108.4978.93

Nine months ended December 31, 2022
Nine months ended December 31, 2021

Yen––(2) Consolidated financial position
Total assets

Net assetsMillions of yen
214,031
197,887

As of December 31, 2022
As of March 31, 2022

Equity ratio

Millions of yen
115,344
112,358

%
51.3
54.2

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
14.00
19.00

Yen––

Yen
26.00

Yen
40.00

27.00

46.00

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
635,000

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
6.1
14,00016.0
14,50010.5
10,00020.4
146.281

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 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 December 31, 2022

71,000,000 shares As of March 31, 2022

71,000,000 shares

Number of treasury shares at the end of the period
As of December 31, 2022

3,803,153 shares As of March 31, 2022

2,266,623 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2022

68,362,374 shares Nine months ended December 31, 2021

268,902,480 shares

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

As of December 31, 2022

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

38,26745,801

51,285
48,414

Securities
Merchandise and finished goods

100
7,387

–
7,929

55
176

108
146

Other
Allowance for doubtful accounts

2,366
(477)

2,088
(484)

Total current assets

93,677

109,488

69,654(48,314)70,190(49,855)

Buildings and structures, net

21,34020,335

Machinery, equipment and vehicles
Accumulated depreciation

34,164(27,010)

34,782(27,943)

7,153

6,839

18,8709,037

18,818
10,460

Accumulated depreciation(4,650)(5,089)Other, net

4,386

5,371

51,751

51,364Work in process
Raw materials and supplies

Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

Machinery, equipment and vehicles, netLand
Other

Total property, plant and equipment
Intangible assets
Goodwill

1,374

1,799

Customer-related assets
Other

1,182
2,317

1,115
3,070

Total intangible assets

4,874

5,985

Investments and other assets
Investment securities

17,167

16,818Retirement benefit asset
Guarantee deposits

3,930
25,2783,856
25,490Other
Allowance for doubtful accounts

1,303
(95)

1,123
(95)

Total investments and other assets
Total non-current assets
Total assets

347,58447,192104,210

104,543

197,887

214,031(Millions of yen)
As of March 31, 2022

As of December 31, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade47,61559,441

300
827

300
2,391

2,500
1,701

1,316
897

76
0

62
0

Other

13,04016,778

Total current liabilities

66,062

81,188

4,462

2,225

178

200

196

219

211
606

116
608

Other

13,812

14,127

Total non-current liabilities

19,467

17,49885,52998,686

Share capital
Capital surplus

10,127
4,339

10,127
4,336

Retained earnings
Treasury shares

91,563(2,651)

95,897(4,505)

Total shareholders' equity

103,378

105,855

3,853

4,154

Revaluation reserve for landRemeasurements of defined benefit plans

(376)
318

(381)
264

Total accumulated other comprehensive income

3,795

4,037

5,184

5,451

112,358

115,344

197,887

214,031

Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Provision for warranties for completed construction

Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (and otherofficers)
Provision for special repairs
Retirement benefit liability
Asset retirement obligations

Total liabilities
Net assets
Shareholders' equity

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

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)(Millions of yen)

Net sales
Net sales of goods

Nine months ended

Nine months ended

December 31, 2021

December 31, 2022

425,776475,911

2,534

2,368

428,310478,279

Cost of goods soldCost of sales of completed construction contracts

387,9942,251

434,038
2,047

Total cost of sales

390,245436,085

Gross profit

38,06542,194

Selling, general and administrative expenses

29,91032,103Operating profit

8,154

10,090Net sales of completed construction contracts
Total net sales
Cost of sales

Non-operating income
Interest income

188199Dividend income
Light oil delivery tax grant392
129409133

Reversal of allowance for doubtful accounts
Other

3382

–
234

1,096

977

Total non-operating income
Non-operating expenses
Interest expenses

195

197

Other

45

65

Total non-operating expenses

240

263

9,010

10,804Gain on sale of non-current assets
Gain on sale of investment securities

19
21106535

Total extraordinary income

40642

169

46

Loss on sale of investment securities
Impairment losses–140

Loss on valuation of investment securities
Loss on sale of shares of subsidiaries and associates

1210––

Total extraordinary losses

19452

Profit before income taxes

8,857

11,394

Income taxes - current

2,575

3,156

Income taxes - deferred

413

361

Total income taxes

2,989

3,518

Profit

5,868

7,876

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on sale and retirement of non-current assets

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

5429

460

5,438

7,416

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

ProfitOther comprehensive income

Nine months endedNine months ended

December 31, 2021

December 31, 2022

5,868

7,876

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax(1,059)
(102)

320
(53)

Total other comprehensive income(1,161)

266

4,706

8,143

4,251

7,663

455

479

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

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