Translation
Notice: This document is a 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.

[Delayed]Consolidated Financial Results
for the Six Months Ended June 30, 2023
(Based on Japanese GAAP)
August 9, 2023
Company name:AMITA HOLDINGS CO., LTD.

Stock exchange listing: Tokyo
Stock code:
2195
Representative:
Inquiries:

URL

https://www.amita-hd.co.jp/

Chairman and Chief Visionary Officer
President and Chief Integrated Operations

OfficerScheduled date to file Quarterly Securities Report:

KUMANO Eisuke
SUETSUGU Takahide

TEL075-277-0378

August 10, 2023

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

Holding of quarterly financial results meeting:No(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended June 30, 2023 (from January 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%Six months ended June 30, 2023
2,196(7.4)
179 (33.3)
204 (33.8)
143(36.2)
Six months ended June 30, 2022
2,370
–
269
0.9
308
(3.6)
225
3.7
Note: Comprehensive income

Six months ended June 30, 2023

¥134 million[(45.1)%]

Six months ended June 30, 2022

¥245 million[9.3%]

Earnings per share

Diluted earnings per share

Yen
8.19
12.84

Six months ended June 30, 2023
Six months ended June 30, 2022

Yen––Notes: 1. The amount of diluted earnings per share in the six months ended June 30, 2022 is not provided because there are no potential shares.
2. The amount of diluted earnings per share in the six months ended June 30, 2023 is not provided because, although there are potentialshares, there are no potential shares with a diluting effect.
3. The Company carried out a 3-for-1 stock split of its common shares as of October 1, 2022. Under the assumption that such stock splits
were implemented at the beginning of the previous fiscal year, the Company calculates “earnings per share.”(2) Consolidated financial position
Total assets
As of June 30, 2023
As of December 31, 2022
Reference: Equity

Net assets

Millions of yen
5,333
4,824

Equity ratio

Millions of yen
2,088
2,001

As of June 30, 2023
As of December 31, 2022

%
39.0
41.4

¥2,082 million¥1,995 million

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

Year ended December 31, 2022
Year ending December 31, 2023

2nd quarter-end

3rd quarter-end

Fiscal year-endTotalYen

Yen

Yen

Yen

Yen––0.00
0.00

–

3.00

3.00

–

4.00

4.00

Year ending December 31, 2023 (Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: No3. Forecast of consolidated financial results for the year ending December 31, 2023 (from January 1, 2023 to December 31, 2023)
Net sales
Full year

Millions of yen
5,283

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
9.5
774
27.0
887
24.0
620
16.6
35.37

Note: Revisions to the forecast of financial results most recently announced: No
4. Notes(1) Changes in significant subsidiaries during the six months ended June 30, 2023

Yes(changes in specified subsidiaries resulting in the change in scope of consolidation):
Newly included:
1 company (AMITA CORPORATION)
Excluded:– companies
Note: For details, please refer to “2. Quarterly consolidated financial statements, (3) Notes to quarterly consolidated financial statements,(Changes in significant subsidiaries during the six months ended June 30, 2023)” on page 8 of the attached document.
(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

17,556,360 shares As of December 31, 2022

17,551,360 shares

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

3,890 shares As of December 31, 2022

3,890 shares

Average number of shares during the period
Six months ended June 30, 2023
17,551,756 shares Six months ended June 30, 2022
17,537,595 shares
Note: The Company carried out a 3-for-1 stock split of its common shares as of October 1, 2022. Under the assumption that such stock splits
were implemented at the beginning of the previous fiscal year, the Company calculates “total number of issued shares at the end of theperiod,” “number of treasury shares at the end of the period,” and “average number of shares during the period.”
Notes:
1. Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
2. Explanation on proper use of earnings forecast, and other special matters
Earnings forecast and other forward-looking statements in this material are based on data currently available to the Company and certain
assumptions that the Company believes are reasonable. The Company gives no assurance that the Company will achieve such forecasts. In
addition, actual results may differ significantly from these forecasts due to various factors. For details of the assumptions used in the earnings
forecast and a cautionary note regarding their appropriate use, please refer to “1. Qualitative information on quarterly consolidated financial
results for the six months ended June 30, 2023, (3) Explanation regarding consolidated earnings forecasts and other forward-lookingstatements” on page 3 of the attached document.

AMITA HOLDINGS CO., LTD. (2195)

Table of Contents
Index
1.

Qualitative information on quarterly consolidated financial results for the six months ended June 30,2023 ......................................................................................................................................................... 2(1) Explanation of operating results (financial position and operating results) ...................................... 2(2) Explanation of financial position....................................................................................................... 3(3) Explanation regarding consolidated earnings forecasts and other forward-looking statements ........ 3
2. Quarterly consolidated financial statements ............................................................................................ 4(1) Consolidated balance sheets .............................................................................................................. 4(2) Consolidated statements of income (cumulative) and consolidated statements of comprehensive
income (cumulative) .......................................................................................................................... 6
Consolidated statements of income (cumulative) ............................................................................... 6
Consolidated statements of comprehensive income (cumulative) ...................................................... 7(3) Notes to quarterly consolidated financial statements ........................................................................ 8(Notes on going concern assumption) ................................................................................................ 8(Notes on significant changes in the amount of shareholders’ equity) ............................................... 8(Changes in significant subsidiaries during the six months ended June 30, 2023)............................. 8-1-AMITA HOLDINGS CO., LTD. (2195)

1. Qualitative information on quarterly consolidated financial results for the six months
ended June 30, 2023
(1) Explanation of operating results (financial position and operating results)
In the six months ended June 30, 2023, the impact of COVID-19 on the Japanese economy lessened andconsumption activities including inbound demand picked up, but uncertainties remain, such as instability inglobal supply chain due to high prices of raw materials, energy, and resources, and the accompanying sharp
increases in domestic food and goods prices, as well as sluggish growth in production activities due to theslowdown in the global economy. Under this economic situation, the AMITA Group (the “Group”) developed
and launched the Social Systems Design Business to provide integrated assistance to businesses andmunicipalities in achieving greater corporate and community sustainability under “Ecosystem Society Concept2030” (announced in November 2022), our business vision for 2030, with the aim to achieve a sustainablesociety. As the basis for this, we have pursued organizational reforms, worked to enhance organizational
mobility, quality of services, and value creation capabilities and actively promoted strategic partnerships withcompanies in different industries.
In the Transition Strategy Business Area, our seminars and integrated sales activities regarding the “CyanoProject,” which comprehensively supports the creation and business transformation of recycling-orientedbusinesses, have led to increases in negotiations and allowed us to consistently secure orders from newcustomers. Going forward, we will strengthen our marketing function to increase order rates and restructure
our products, including responding to the recent increased attention to the disclosure of information on naturalrisks arising from corporate activities (TNFD: Taskforce on Nature-related Financial Disclosures). In theenvironmental certification assessment service, performance has been strong in the six months ended June 30,2023 reflecting delayed recording of sales from the three months ended March 31, 2023, and the consistentorders from new customers. ICT and BPO services for environmental management operations continued toperform well in response to the growing needs of client companies due to personnel shortages and otherfactors. Also, an equity-method affiliate, Codo Advisory, Inc., expanded its provision of support services forthe development and assessment of transition strategies toward decarbonization management, as well as
educational workshops on climate change, in collaboration with AMITA CORPORATION as appropriate. In
response to the growing need for TNFD compliance, in June we began offering educational workshops forcompanies on biodiversity.
In the Circular Materials Business Area, while raw material procurement risks are becoming more apparent due
to instability in the global supply chain, the need for alternative resources is steadily expanding. In particular,
there is a strong need for alternative fuel resources such as cement fuels. In line with this, we are promoting
active recycling and the production and sale of coal substitute products as circular materials, mainly at theKitakyushu Resource Recycling Plant and the Himeji Resource Recycling Plant. In addition, closed-loop
resource-recycling of silicon slurry waste liquids, mainly at the Kitakyushu Resource Recycling Plant, has been
continuing steadily. Furthermore, we are implementing initiatives to improve profit margins, such as
negotiating appropriate recycling prices and improving productivity at plants. On the other hand, we arehandling less nonferrous metal materials and cement materials due to production cutbacks at some resource
user companies. In October 2022, the resource manufacturing operations of the former Kawasaki Resource
Recycling Plant were taken over by the Kawasaki Plant of Sanyu Plant Service Co., Ltd. In this connection, therecording of net sales and cost of sales for that transaction was changed from gross to net.
In the overseas business in Malaysia, although handling volume temporarily declined due to production
cutbacks by client companies and other factors, local demand for alternative resources is increasing, and thehandling volume is on a recovery trend as we proceed with efforts to restore the volume of existing projects
and win new projects. In Indonesia, we signed a Memorandum of Understanding (MoU) with PT Indocement
Tunggal Prakarsa Tbk., a major Indonesian cement company, and launched a comprehensive businessfeasibility study with the aim of entering into decarbonization and recycling-oriented business in that country.
In addition, a project regarding decarbonization and recycling business in Indonesia and Malaysia, which we
jointly bid for with Kitakyushu City and other partners, was selected by the Ministry of the Environment as a
“City-to-City Collaboration Program for Zero Carbon Society.”
As for activities related to MEGURU STATION®, a community-type resource collection station thatcomprehensively solves local issues through mutual aid and assistance, we are continuing activities to build amodel for deployment in Tachiarai Town, Fukuoka Prefecture and Kobe City, with the goal of establishing 50stations by 2023. In addition, we have been engaged in related activities, such as signing an “Agreement toPromote Sustainable Recycling-Oriented Urban Development” with Kakegawa City, Shizuoka Prefecture, andstarting full-scale development of a traceability system for recycled resources in MEGURU STATION® using-2-AMITA HOLDINGS CO., LTD. (2195)
blockchain technology. As a future initiative, we were selected by the Cabinet Office on July 31 for the third
phase of the Strategic Innovation Program (SIP), and will work with Toray Industries, Inc. to build and deploy
a circular model for plastics. We will also proceed with work based on the “Comprehensive Partnership
Agreement on the Practical Construction of a Sustainable Ecosystem Society” with Buzen City, Fukuoka
Prefecture and Tsunaken Regional Connection & Development Organization announced on August 2 (to besigned on August 21).
In the area of partnerships, we have been evaluating specific collaborative projects related to the circular
economy with companies from different industries. One example is our participation in a proof-of-concept
field test of the “Digital Product Passport,” a first in Japan, as part of the Japan Circular Economy Partnership(J-CEP) project.
As a result of the above, in the six months ended June 30, 2023, net sales amounted to ¥2,196,548 thousand(down 7.4%, or ¥174,333 thousand YoY) due to a decrease in the handling volume of nonferrous metalmaterials and cement materials, and a change from gross to net recording of transactions at the former
Kawasaki Resource Recycling Plant. Operating profit recorded ¥179,989 thousand (down 33.3%, or ¥89,956
thousand YoY) due to decreased net sales and increased selling, general and administrative expenses. Ordinary
profit was ¥204,367 thousand (down 33.8% or ¥104,479 thousand YoY) due to a decrease in operating profit
and a decrease in share of profit of entities accounted for using equity method related to the Malaysianbusiness. Profit attributable to owners of the parent was ¥143,700 thousand (down 36.2% or ¥81,543 thousandYoY) due to a decrease in ordinary profit.
Statement by segment is omitted because the Group constitutes a single segment of the Social Systems DesignBusiness.
(2) Explanation of financial position
As of the end of the second quarter under review, current assets increased by ¥290,980 thousand mainly due toan increase in cash and deposits, and non-current assets increased by ¥218,627 thousand mainly due to anincrease in property, plant and equipment. As a result, total assets increased by ¥509,607 thousand from the endof the previous fiscal year to ¥5,333,888 thousand.
With regard to liabilities, current liabilities increased by ¥22,105 thousand mainly due to an increase in current
portion of long-term borrowings, and non-current liabilities increased by ¥399,880 thousand mainly due to anincrease in long-term borrowings. As a result, liabilities increased by ¥421,985 thousand from the end of theprevious fiscal year to ¥3,245,215 thousand.
Net assets increased by ¥87,622 thousand from the end of the previous fiscal year to ¥2,088,672 thousand
mainly due to recording of profit attributable to owners of parent.
(3) Explanation regarding consolidated earnings forecasts and other forward-looking statements
No changes have been made to the earnings forecast announced on February 13, 2023.

-3-AMITA HOLDINGS CO., LTD. (2195)

2. Quarterly consolidated financial statements(1) Consolidated balance sheets
As of December 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, netLand
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets-4-(Thousands of yen)
As of June 30, 2023

1,779,633
744,972
32,98918,498
10,844
182,759(70)
2,769,627

2,224,083
647,364
30,78021,8289,881
126,669–
3,060,608

391,446
320,266
752,187
83,042
1,546,942
36,966
470,7432,054,652
4,824,280

377,116
377,044752,187
176,372
1,682,720
75,453515,106
2,273,279
5,333,888

AMITA HOLDINGS CO., LTD. (2195)
As of December 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Foreign currency translation adjustmentTotal accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets-5-(Thousands of yen)
As of June 30, 2023

293,290
170,000
101,504
76,848627,363
1,269,005

266,583
205,067
87,251
85,164
647,045
1,291,111

1,082,562
349,349
100,681
21,6301,554,224
2,823,230

1,475,433
361,851
101,130
15,6891,954,104
3,245,215

480,680
250,443
1,225,139(482)
1,955,781

483,560
253,323
1,316,163(482)
2,052,565

39,21939,2196,049
2,001,050
4,824,280

30,07230,072
6,034
2,088,672
5,333,888

AMITA HOLDINGS CO., LTD. (2195)(2) Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)
Six months ended
June 30, 2022
2,370,881
1,360,105
1,010,775
740,829
269,946

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Share of profit of entities accounted for using equity
methodForeign exchange gains
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Share acquisition rights issuance costs
Loss on cancellation of leases
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Loss on sale and retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent-6-(Thousands of yen)Six months ended
June 30, 2023
2,196,548
1,188,835
1,007,712
827,723
179,9895457

36,12018,623

7,308
6,758
50,2408,513
9,442
36,636

8,477
–
2,245
616
11,339308,847

8,384
2,391
–
1,482
12,258204,367––
308,847
14,071
69,533
83,604225,243
225,243

2,205
2,205
202,162
93,975(35,513)58,462
143,700
143,700

AMITA HOLDINGS CO., LTD. (2195)
Consolidated statements of comprehensive income (cumulative)
Six months ended
June 30, 2022
225,243

ProfitOther comprehensive income
Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive incomeComprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent-7-(Thousands of yen)Six months ended
June 30, 2023
143,700

4,440

2,123

15,564(11,270)

20,005245,249(9,146)
134,553245,249

134,553AMITA HOLDINGS CO., LTD. (2195)(3) Notes to quarterly consolidated financial statements(Notes on going concern assumption)
Not applicable.
(Notes on significant changes in the amount of shareholders’ equity)
Not applicable.
(Changes in significant subsidiaries during the six months ended June 30, 2023)
The Company changed the trade name of AMITA CORPORATION, a wholly owned subsidiary of theCompany, to “AMITA CIRCULAR CORPORATION” effective January 1, 2023, transferred part of thebusiness of AMITA CIRCULAR CORPORATION to a newly established company (trade name: AMITACORPORATION) by means of a company split (simple incorporation-type company split) effective January 5,2023, and made the newly established company a wholly owned subsidiary of the Company. As a result, thatcompany has been included in the consolidated results since Q1 2023. The newly established AMITACORPORATION is a specified subsidiary of the Company.
Although it does not constitute a change in specified subsidiaries, as a result of AMIDAO CORPORATION
being newly established on January 5, 2023, that company has been included in the consolidated results since
Q1 2023.
On June 1, 2023, the Company’s consolidated subsidiary AMITA CORPORATION merged with the nonconsolidated subsidiary KamiBIO Co., Ltd.

-8-