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 1, 2022
Company name:AIPHONE CO., LTD.
Stock exchange listing: Tokyo, Nagoya
Stock code:
Representative:

6718
President

URL

https://www.aiphone.co.jp/
Koji Kato

Inquiries:

Director, General Manager of Corporate
Planning Department

Tomio Suzuki

TEL

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

November 4, 2022
December 2, 2022

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

Yes
Yes

052-228-8181(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 changesProfit 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
23,863(5.8)
1,324 (59.3)
1,685 (50.9)
1,258 (54.7)
Six months ended September 30, 2021
25,33424.6
3,256 174.7
3,429 194.7
2,778 212.1
Note: Comprehensive income

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

¥2,960 million [24.0%]¥2,388 million [69.9%]

Earnings per share

Diluted earnings per share

Yen
77.05
170.03Six months ended September 30, 2022
Six months ended September 30, 2021

Yen––(2) Consolidated financial position
Total assets
As of September 30, 2022
As of March 31, 2022
Reference: Equity

Net assets

Millions of yen
70,12769,453As of September 30, 2022
As of March 31, 2022

Equity ratio

Millions of yen
57,97555,929

%
82.7
80.5

¥57,975 million¥55,929 million

2. Cash dividends
Annual dividends per share

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

1st quarter-end

2nd quarter-end3rd quarter-end

Fiscal year-end

Yen––

Yen
35.00
40.00

Yen–

Yen
56.00

Yen
91.00

–

40.00

80.00

Year ending March 31, 2023 (Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: No1Total

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
52,200Percentages 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
0.4
2,700 (51.2)
3,200 (46.0)
2,400 (43.2)
146.93

Note: Revisions to the forecast of financial results most recently announced: Yes
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):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoYes(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:

YesNo

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

18,220,000 shares As of March 31, 2022

18,220,000 shares

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

1,885,701 shares As of March 31, 2022

1,879,987 shares

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

16,338,091 shares Six months ended September 30, 2021

16,340,905 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
* Explanation of proper use of financial results forecast, and other special matters
The forward-looking statements, including the financial results forecast shown in this document, are based on information currently available to
the Company and on certain assumptions deemed to be reasonable by the Company. As such, they do not constitute guarantees by the Companyof future performance. Actual performance and other results may differ materially due to various factors.

2

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

23,6498,371

17,886
8,319

Electronically recorded monetary claims - operating
Securities3,280
689

2,492
600

Finished goods
Work in process

6,103
1,824

7,156
2,723

Raw materials
Other

8,241
421

10,738645(36)(45)

52,54550,516

6,231

6,560

Accumulated depreciation(4,499)(4,678)

Buildings and structures, net

1,732

1,882

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

Machinery, equipment and vehicles

2,683

2,790

Accumulated depreciation(1,770)(1,876)913

914

Tools, furniture and fixtures

Machinery, equipment and vehicles, net

7,892

8,088

Accumulated depreciation(7,140)(7,395)

751

692

Land

1,534

4,143

Leased assets
Accumulated depreciation

554
(255)

567
(273)

298

294

Tools, furniture and fixtures, net

Leased assets, net
Construction in progress

115

5,232

7,942

Other

00

Total intangible assets

00

Investment securities
Deferred tax assets

8,019
2,482

8,306
2,416

Other
Allowance for doubtful accounts

1,173
(0)

946
(0)

Total investments and other assets

11,674

11,66816,907

19,611

69,45370,127

Total property, plant and equipment
Intangible assets

Investments and other assets

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2022

As of September 30, 2022

Liabilities
Current liabilities
Electronically recorded obligations - operating

783

558

Accounts payable - trade
Lease liabilities

2,248
129

2,728
123

Income taxes payable
Contract liabilities

1,569
263

479
343

Provision for product warranties
Other

1,013
4,655

919
4,111

Total current liabilities

10,663

9,263

194

185

82
118

97
118

392
2,071

371
2,116

Non-current liabilities
Lease liabilities
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Retirement benefit liability
Other
Total non-current liabilities

2,859

2,889

13,523

12,152

Shareholders' equity
Share capital

5,388

5,388

Capital surplus
Retained earnings

5,408
44,476

5,408
44,820Total liabilities
Net assets

Treasury shares(3,217)(3,217)

Total shareholders' equity

52,05652,400

Valuation difference on available-for-sale securities
Revaluation reserve for land

2,101(426)2,206(426)Foreign currency translation adjustmentRemeasurements of defined benefit plans

2,127
70

3,731
63

Accumulated other comprehensive income

Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

43,873

5,574

55,92957,97569,45370,127

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

25,334
13,09423,863
13,182Gross profit

12,24010,681

Selling, general and administrative expenses

8,983

9,357

Operating profit

3,256

1,324

Interest income
Dividend income

783

17102

Rental income from buildings
Foreign exchange gains

2074

12222

Non-operating income

Other

1030

Total non-operating income

196385Interest expenses
Other

16
617
6

Total non-operating expenses

2324

3,429

1,685

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

363
–

1730

Total extraordinary income

363

47

00

1464

4–

Non-operating expenses

Ordinary profit
Extraordinary incomeExtraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets
Impairment losses
Total extraordinary losses

794

3,713

1,727

935

468

Profit

2,778

1,258

Profit attributable to owners of parent

2,778

1,258

Profit before income taxes
Income taxes

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

ProfitOther comprehensive income

Six months ended

Six months ended

September 30, 2021

September 30, 2022

2,778

1,258

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

5(403)

105
1,604

Remeasurements of defined benefit plans, net of tax

7(7)

(390)

1,701

Comprehensive income

Total other comprehensive income

2,388

2,960

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,388

2,960

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

3,713

1,727

Depreciation
Increase (decrease) in allowance for doubtful accounts

4434463
2Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for product warranties

4322(22)(95)

Interest income
Dividend income

(7)
(83)

(17)
(102)

Foreign exchange losses (gains)
Interest expenses

(34)
16

(64)
17

Loss (gain) on sale of investment securities
Loss (gain) on sale of non-current assets

–
(363)

(30)
(16)

Loss on retirement of non-current assets
Impairment losses

1464

4–

Decrease (increase) in trade receivables
Decrease (increase) in inventories

348(2,000)

1,326(3,664)

Increase (decrease) in trade payables
Other, net(638)(615)

17(849)Subtotal

1,189(1,302)

Interest and dividends received
Interest paid

101(16)

125(17)

Income taxes paid

(505)

(1,485)

Net cash provided by (used in) operating activities

769(2,680)

Payments into time deposits
Proceeds from withdrawal of time deposits

(695)
694

(227)
543

Proceeds from sale and redemption of securities
Purchase of property, plant and equipment

99(238)586(2,808)Proceeds from sale of property, plant and equipment
Purchase of investment securities

3,589
(305)

16(603)

577––
218

3,721

(2,274)

Cash flows from financing activities
Purchase of treasury shares

(0)

(0)

Repayments of lease liabilities
Dividends paid

(48)
(653)

(85)
(915)

Net cash provided by (used in) financing activities(702)(1,000)Effect of exchange rate change on cash and cash equivalents

(113)

472

Cash flows from investing activities

Proceeds from sale of investment property
Proceeds from cancellation of insurance funds
Net cash provided by (used in) investing activities

Net increase (decrease) in cash and cash equivalents

3,674(5,483)

Cash and cash equivalents at beginning of period

17,99822,577

Cash and cash equivalents at end of period

21,67317,0947