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 8, 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
Hiroshi Hayata

Inquiries:

General Manager, General Accounting
Department

Eiichi Nonaka

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

August 9, 2023–

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

NoNo

TEL

03-6880-3100(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)
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%Three months ended June 30, 2023
151,020
(2.5)
3,804
58.0
4,092
51.3
2,576
50.7
Three months ended June 30, 2022
154,892
20.3
2,407
11.0
2,705
6.5
1,709
14.8
Earnings per share

Diluted earnings per share

Yen
38.57
24.88

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

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
193,668
201,244As of June 30, 2023
As of March 31, 2023

Equity ratio

Millions of yen
118,062
117,424%
58.0
55.5

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
19.00

Yen–

Yen
36.00

Yen
55.00

30.00

–

30.00

60.00

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)
Net sales
Full year

Millions of yen
660,000

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
1.9
15,000(1.4)
16,000(0.2)
10,000(8.3)
149.331

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:

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 June 30, 2023

68,000,000 shares As of March 31, 2023

68,000,000 shares

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

1,497,635 shares As of March 31, 2023

1,034,703 shares

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

66,780,342 shares Three months ended June 30, 2022

268,733,334 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions 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

47,01743,144

38,57739,489Merchandise and finished goods
Work in process

7,542
85

8,640
76

146
919

144
1,413

Raw materials and supplies
Other
Allowance for doubtful accounts

(475)

(475)

98,38087,866

69,51670,683

Accumulated depreciation(49,704)(50,070)

Buildings and structures, net

19,812

20,613

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures

Machinery, equipment and vehicles

34,67136,455

Accumulated depreciation(27,695)(27,965)

6,976

8,490

Land

Machinery, equipment and vehicles, net18,420

18,795

Other
Accumulated depreciation

11,512(5,199)9,813(5,345)

Other, net

6,312

4,468

51,52252,367

Goodwill
Customer-related intangible assets

1,683
1,093

1,633
1,071

Other

3,419

3,802

Total intangible assets

6,197

6,506

Investment securities
Retirement benefit asset

17,1401,991

18,8302,151Guarantee deposits
Other

24,865
1,242

24,863
1,176

(96)

(95)

Total property, plant and equipment
Intangible assets

Investments and other assets

Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

3

45,14346,926

102,863

105,801

201,244

193,668(Millions of yen)
As of March 31, 2023

As of June 30, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade44,90840,856

Short-term borrowings
Current portion of long-term borrowings

300
2,346

300
1,812

Income taxes payable
Provision for bonuses

3,530
2,041

584
932

89
0

18
0

Other

14,234

14,220Total current liabilities

67,45358,725

2,115

2,022

208

184

217

218

117
609

110
610

Other

13,09813,734

Total non-current liabilities

16,366

16,88083,81975,605

Share capital
Capital surplus

10,127
2,531

10,1272,531

Retained earnings
Treasury shares

97,862(1,280)98,028(1,968)

Total shareholders' equity

109,241

108,718

4,338

5,446

Revaluation reserve for landRemeasurements of defined benefit plans(612)(1,228)(612)(1,159)Total accumulated other comprehensive income

2,496

3,673

5,686

5,670

117,424

118,062201,244

193,668

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

Three months ended

Three months ended

June 30, 2022

June 30, 2023
154,234

150,416657

603

154,892

151,020

Cost of goods soldCost of sales of completed construction contracts

141,136575

135,716
523

Total cost of sales

141,712136,240

Gross profit

13,18014,779Selling, general and administrative expenses

10,772

10,975

Operating profit

2,407

3,804

Net sales of completed construction contracts
Total net sales
Cost of sales

Non-operating income
Interest income

1013

Dividend income
Purchase discounts

21356

223
52

Light oil delivery tax grantReversal of allowance for doubtful accounts

230240

Other

8050

Total non-operating income

384

364

Interest expenses
Sales discounts

2340

2141

Other

23

12

Non-operating expenses

Total non-operating expenses

8775

2,705

4,092

Gain on sale of non-current assets
Gain on sale of investment securities

31437
–

Total extraordinary income

1837

973

Ordinary profit
Extraordinary income

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

1

Total extraordinary losses

974

Profit before income taxes

2,714

4,055

Income taxes - current
Income taxes - deferred

450
444

891
399

Total income taxes

894

1,290

1,819

2,765

109

189

1,709

2,576

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

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

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2022

June 30, 2023
1,819

2,765

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax

325
(17)

1,119
69

Total other comprehensive income

307

1,188

2,127

3,954

2,013

3,752

113

201

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

6