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, 2023
(Based on Japanese GAAP)
February 6, 2024
Company name:AIPHONE CO., LTD.
Stock exchange listing: Tokyo, Nagoya
Stock code:
Representative:

6718
URL https://www.aiphone.co.jp/
President (Representative Director)
Tomio Suzuki

Inquiries:

Executive Officer,General Manager,
Administrative Headquarters

Naoki Isomura

TEL

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

February 9, 2024–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:NoNo052-228-8181(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 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%
Nine months ended December 31, 2023
44,907
23.0
3,997
81.2
4,514
84.0
3,275
77.6
Nine months ended December 31, 2022
36,499(4.0)
2,206 (52.9)
2,454 (50.3)
1,843 (52.2)
Note: Comprehensive income Nine months ended December 31, 2023
Nine months ended December 31, 2022

¥5,071 million [76.7%]¥2,871 million [(20.8)%]

Earnings per shareDiluted earnings per share

Yen
200.29112.87

Nine months ended December 31, 2023
Nine months ended December 31, 2022

Yen––(2) Consolidated financial position
Total assets
As of December 31, 2023
As of March 31, 2023
Reference: Equity

Net assets

Millions of yen
75,27770,597

As of December 31, 2023
As of March 31, 2023

Equity ratio

Millions of yen
62,06558,391

%
82.4
82.7

¥62,065 million¥58,391 million

2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-endYear ended March 31, 2023

Yen–

Yen
40.00

Yen–

Yen
40.00

Yen
80.00

Year ending March 31, 2024–50.00–80.00130.00Year ending March 31, 2024 (Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: Yes

1Total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
60,100
13.8
4,500
19.7
5,100
22.4
3,700
26.3
226.31
Note: Revisions to the forecast of financial results most recently announced: Yes
4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2023
(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:

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 December 31, 2023

18,220,000 shares As of March 31, 2023

18,220,000 shares

Number of treasury shares at the end of the period
As of December 31, 2023

1,855,171 shares As of March 31, 2023

1,885,849 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2023

16,354,658 shares Nine months ended December 31, 2022

16,336,809 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 tothe 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, 2023

As of December 31, 2023

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

14,325
10,341

19,698
9,572

Electronically recorded monetary claims - operatingSecurities

3,084
652

3,256
697

Finished goods
Work in process

9,339
2,836

8,492
2,720

Raw materials
Other

9,528
1,010

10,522
571

(46)

(43)

51,07055,489

6,477

6,674

Accumulated depreciation(4,732)(4,917)

Buildings and structures, net

1,745

1,757

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

Machinery, equipment and vehicles

2,820

3,072

Accumulated depreciation(1,916)(2,232)904

840

Tools, furniture and fixtures

Machinery, equipment and vehicles, net

8,080

8,276

Accumulated depreciation(7,431)(7,603)

649

672

Land

4,130

4,153

Leased assets
Accumulated depreciation

615
(285)

737
(370)

330

366

Tools, furniture and fixtures, net

Leased assets, net
Construction in progress

2677

7,786

7,868

Other

00

Total intangible assets

00

8,458
2,341

8,799
2,140

Other
Allowance for doubtful accounts

940
(0)

980
(0)

Total investments and other assets

11,73911,91919,526

19,78870,59775,277

Total property, plant and equipment
Intangible assets

Investments and other assets
Investment securities
Deferred tax assets

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2023

As of December 31, 2023

Liabilities
Current liabilities
Electronically recorded obligations - operating

568

1,126

Accounts payable - trade
Lease liabilities

2,681
136

2,420
166

Income taxes payable
Contract liabilities

211
309

778
388

Provision for product warranties
Provision for bonuses

363
–319
643

Other4,867

4,153

Total current liabilities

9,139

9,996

Lease liabilities
Deferred tax liabilities

18924

191
26

Deferred tax liabilities for land revaluation
Retirement benefit liability

118
558

118
624

Other

2,174

2,255

Total non-current liabilities

3,066

3,215

12,205

13,212

Share capital
Capital surplus

5,388
5,408

5,388
5,430

Retained earnings
Treasury shares

45,837(3,218)47,641(3,166)

Total shareholders' equity

53,41655,294

2,184

2,863

(426)
3,288

(426)
4,397

Non-current liabilities

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4(72)

(63)

4,974

6,770

58,39162,06570,59775,277

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

December 31, 2022

December 31, 2023

Net sales
Cost of sales

36,49920,29744,90725,257Gross profit

16,201

19,649Selling, general and administrative expenses

13,995

15,652

Operating profit

2,206

3,997

Interest income
Dividend income

40
175

88206

Rental income from buildings
Foreign exchange gains

1814

17206

Non-operating income

Other

3634

Total non-operating income

284554

Interest expenses
Other

27
1028
8

Total non-operating expenses

37

36

2,454

4,514

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

1930

0180

Total extraordinary income

49180

Extraordinary losses
Loss on sale of non-current assets

004–0110

Non-operating expenses

Ordinary profit
Extraordinary income

Loss on retirement of non-current assets
Loss on valuation of investment securities
Total extraordinary losses

5111

2,498

4,583

654

1,308

Profit

1,843

3,275

Profit attributable to owners of parent

1,843

3,275

Profit before income taxes
Income taxes

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

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2022

December 31, 2023

1,843

3,275Valuation difference on available-for-sale securities
Foreign currency translation adjustment

201
836

678
1,108

Remeasurements of defined benefit plans, net of tax

(11)

8

1,027

1,796

Comprehensive income

Total other comprehensive income

2,871

5,071

Comprehensive income attributable toComprehensive income attributable to owners of parent

2,871

5,071

6