Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

April 28, 2023

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
(Under Japanese GAAP)
Company name:
Konishi Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
4956
URL:
http://www.bond.co.jp/
Representative:
Keiichi Oyama, Representative Director and President
Inquiries:
Shinichi Okamoto, Managing Executive Officer
Telephone:+81-6-6228-2877
Scheduled date of annual general meeting of shareholders:June 20, 2023
Scheduled date to commence dividend payments:
June 21, 2023
Scheduled date to file annual securities report:
June 20, 2023
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (for institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31,
2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Fiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2023

123,339

8.5

7,421

1.7

7,927

1.3

10,032

95.4

5.5

7,298

3.1

7,822

5.4

5,135

4.1

March 31, 2022

113,671

Note: Comprehensive income

For the fiscal year ended March 31, 2023:
For the fiscal year ended March 31, 2022:

Basic earnings
per share

Diluted earnings
per share¥10,791 million¥5,690 million

Return on equity[89.7%][(25.3) %]Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales

Fiscal year ended

Yen

March 31, 2023

281.95

-

13.8

6.3

6.0

March 31, 2022

144.13

-

7.7

6.7

6.4

Reference:

Yen

%

%

%

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2023:¥31 million
For the fiscal year ended March 31, 2022:¥19 million(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2023

132,874

81,48257.9

2,173.91

March 31, 2022

119,148

72,89757.6

1,926.62

Reference:

EquityAs of March 31, 2023:
As of March 31, 2022:¥76,975 million¥68,664 million%

Yen(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2023

4,606

3,549

(2,476)

31,268March 31, 2022

6,198

(2,674)(1,823)25,514

2. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Yen
Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024
(Forecast)

Yen

Fiscalyear-end

Yen

Total cash
dividends(Total)

Total

Yen

Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Yen Millions of yen

%

%

-

22.00

-

22.00

44.00

1,568

30.5

2.3

-

27.00

-

22.00

49.00

1,742

17.4

2.4

-

27.00

-

27.00

54.00

30.8

Note: Breakdown of dividends at the end of the second quarter for the fiscal year ended March 31, 2023: Ordinary dividend ¥22.00;
70th anniversary of the launch of bond (synthetic adhesive) commemorative dividend ¥5.00

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2024 (from April 1, 2023 to March
31, 2024)(Percentages indicate year-on-year changes.)
Net sales

Six months ending
September 30, 2023
Fiscal year ending
March 31, 2024

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

62,000

6.6

4,350

50.7

4,500

39.2

2,900

(58.8)

81.90

129,000

4.6

9,300

25.3

9,700

22.4

6,200

(38.2)

175.10Note: The main reason for the large fluctuation compared with the same period of the previous year in profit attributable to ownersof parent is that extraordinary income of 7,184 million was generated for the first six months of the fiscal year ended March2023 as a gain on sale of non-current assets due to the transfer of non-current assets.

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in a change
in the scope of consolidation): No
Included: 0 companies, excluded 0 companies(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies other than (i): None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023

40,707,440 shares

As of March 31, 2022

40,707,440 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2023

5,298,801 shares

As of March 31, 2022

5,067,401 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2023

35,583,727 sharesFiscal year ended March 31, 2022

35,629,379 shares[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 toMarch 31, 2023)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

ProfitFiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2023

82,025

9.1

4,217

8.4

5,232

6.2

9,035

149.7

March 31, 2022

75,195

5.9

3,890

1.2

4,926

5.3

3,619

(2.7)

Basic earnings
per share

Diluted earnings
per share

Fiscal year ended

Yen

March 31, 2023

253.93-

March 31, 2022

101.58-Yen(2) Non-consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

March 31, 2023

109,50260,57255.3

1,710.66

March 31, 2022

97,64353,45954.7

1,499.98

Reference:

EquityAs of March 31, 2023:
As of March 31, 2022:¥60,572 million¥53,459 million* Reports on financial results are exempt from an audit conducted by certified public accountants or an audit
corporation.

* Proper use of earnings forecasts, and other special matters
Forward-looking statements, including the earnings forecasts stated in these materials, are based on information
currently available to the Company and certain assumptions deemed reasonable. Results may differ materiallyfrom the earnings forecasts due to various factors. For the assumptions used as the basis for the earnings
forecasts and special remarks regarding the use of the earnings forecasts, please refer to “(4) Future outlook” in“1. Overview of operating results, etc.” on page 4 of the attached document.
The Company plans to hold a presentation meeting for institutional investors and analysts on May 26, 2023
(Friday). A summary of the presentation materials for financial results to be distributed at the meeting will be
posted on the Company’s website after the briefing.

Konishi Co., Ltd. (4956)

Index
1.

Overview of operating results, etc. .................................................................................................................... 2(1) Overview of operating results for the fiscal year under review ................................................................. 2(2) Overview of financial position for the fiscal year under review ............................................................... 3(3) Review of cash flow position for the fiscal year under review.................................................................. 3(4) Future outlook ........................................................................................................................................... 5(5) Basic policy on profit distribution and dividends for fiscal 2023 and fiscal 2024 .................................... 6

2.

Basic concept regarding selection of accounting standards ............................................................................... 6

3.

Consolidated financial statements and significant notes thereto ....................................................................... 7(1) Consolidated balance sheet........................................................................................................................ 7(2) Consolidated statement of income and consolidated statement of comprehensive income....................... 9(3) Consolidated statement of changes in equity............................................................................................11(4) Consolidated statement of cash flows...................................................................................................... 15(5) Notes on premise of going concern ......................................................................................................... 17(6) Changes in significant basic matters for preparation of consolidated financial statements ..................... 17(7) Notes to consolidated financial statements .............................................................................................. 17
Segment information, etc......................................................................................................................... 17
Per share information .............................................................................................................................. 21
Omission of disclosure ............................................................................................................................ 21
Significant events after reporting period ................................................................................................. 21

4.

Other ................................................................................................................................................................ 22
Change in officers.................................................................................................................................... 22

Reference: Supplementary Information on Financial Results for the Fiscal Year Ended March 31, 2023 .............. 23-1-

Konishi Co., Ltd. (4956)
1. Overview of operating results, etc.
(1) Overview of operating results for the fiscal year under review
During the fiscal year ended March 31, 2023 (fiscal year under review), the Japanese economy showed signsof a gradual recovery amid the ongoing normalization of life in order to achieve a balance between measuresagainst COVID-19 and socioeconomic activities. However, the recovery of the Japanese economy was weak
as prices of electricity, fuel, and other commodities continued to rise, affected by the global surge in resourceand energy prices. Going forward, the economy is expected to recover gradually as economic activities
normalize. On the other hand, further escalation of resource costs due to the prolonged situation in Ukraine
and credit concerns about financial institutions in the U.S. and Europe may significantly impact the recoveryof the Japanese economy. Therefore, the outlook remains uncertain.
In this business environment, the Group saw a recovery in demand in the construction and civil engineering
fields, and sales for repair, improvement, and reinforcement in both the bond and construction segments werestrong. In the Chemicals segment, sales of automotive products were strong. On the other hand, soaring raw
material costs and electricity and fuel prices squeezed the overall profits. However, profits were on a recovery
trend as these costs were passed on to selling prices toward the latter half of the fiscal year.
As a result, the Group’s operating results for the fiscal year under review were as follows. Net sales increased
8.5% year on year to 123,339 million yen, operating profit went up 1.7% year on year to 7,421 million yen,ordinary profit rose 1.3% year on year to 7,927 million yen, and profit attributable to owners of parent grew
95.4% year on year to 10,032 million yen due to the recording of gain on sale of non-current assets as describedin the “Notice Concerning Transfer of Non-current Assets and Recording of Extraordinary Income” announced
on August 24, 2021.
Results by segment are as follows.
(i)

Bond
In the general household field, sales through home improvement stores and convenience stores remained
steady. In the housing-related field, construction costs were on an upward trend. The sales volumes ofadhesives for interior work decreased as the recovery of new housing starts was slow. In the industrial
material field, the sales volume of elastic adhesives for use in such applications as automotive andelectrical components increased. In the construction field, the sales volumes of sealing materials forconstruction repair and construction increased. Additionally, in the civil engineering field, construction
methods for surface protection and preventing peeling performed well.
In the fiscal year under review, prices of raw materials used in adhesives and sealants soared tounprecedented levels. However, as cost-saving and cost-improvement efforts were made, as well as thepassing on of costs to selling prices, progressed toward the latter half of the fiscal year, operating profit
recovered to the same level as in the same period of the previous fiscal year.
As a result of the above, net sales increased 8.4% year on year to 68,968 million yen and operating profit
fell 1.5% year on year to 4,536 million yen.

(ii) Chemicals
Both net sales and profits were favorable overall, partly due to the effect of price revisions for purchased
products. In the chemical engineering field, sales of resin raw materials were strong. Automobile products
performed well due to easing supply constraints and the new adoption of products, although their demand
was affected by the shortage of semiconductors and other factors. Products for electronics and electricalappliances remained weak due to production adjustments at customers. Regarding sales at Maruyasu &Co., Ltd., products for use in capacitors decreased due to the effect of a semiconductor shortage. On theother hand, products for use in semiconductor manufacturing continued to show a strong performance.

-2-

Konishi Co., Ltd. (4956)
As a result of the above, net sales increased 8.9% year on year to 34,674 million yen and operating profit
grew 27.9% year on year to 1,265 million yen.
(iii) Construction
In the Construction Business, repair, improvement, and reinforcement works in the infrastructure and(housing) stock markets, particularly for public works, were continuously steady. As a result, both sales
and profits increased at BOND ENGINEERING Co., Ltd. In addition, CHUSHIN CONSTRUCTION
CO., LTD., which became a subsidiary of the Company in January 2023, contributed to the increase insales and profit. Although orders for construction work were firm, other related construction companies
remained weak due to soaring material prices and the absence of large-scale construction projects, etc.
As a result of the above, net sales increased 8.3% year on year to 19,514 million yen and operating profit
fell 4.0% year on year to 1,606 million yen.
(iv) OtherThe Other segment represents the Real Estate Rental Business, etc. Net sales decreased 5.7% year on year
to 182 million yen and operating profit dropped 82.5% year on year to 2 million yen.
(2) Overview of financial position for the fiscal year under review
Total assets as of March 31, 2023 increased 13,726 million yen from the previous fiscal year-end to 132,874
million yen.
(i)

AssetsCurrent assets increased 12,167 million yen from the previous fiscal year-end to 94,434 million yen
mainly due to an increase of 6,025 million yen in cash and deposits, an increase of 4,030 million yen inelectronically recorded monetary claims-operating, and an increase of 2,074 million yen in merchandiseand finished goods, despite a decrease of 1,872 million yen in notes receivable–trade. Non-current assets
increased 1,558 million yen from the previous fiscal year-end to 38,440 million yen, despite decreases of
552 million yen in machinery, equipment and vehicles and 331 million yen in buildings and structures ofproperty, plant and equipment. The reasons for this include increases of 927 million yen in constructionin progress of property, plant and equipment and 455 million yen in investment securities of investments
and other assets.

(ii) Liabilities
Current liabilities increased by 4,660 million yen from the previous fiscal year-end to 45,856 million yen
mainly due to an increase of 2,246 million yen in notes and accounts payable–trade, and an increase of
2,060 million yen in income taxes payable. Non-current liabilities grew 480 million yen from the previous
fiscal year-end to 5,536 million yen mainly due to an increase of 334 million yen in deferred tax liabilities.
(iii) Net assets
Net assets grew 8,584 million yen from the previous fiscal year-end to 81,482 million yen mainly due toan increase of 8,285 million yen in retained earnings.
(3) Review of cash flow position for the fiscal year under review
Cash and cash equivalents (hereinafter “cash”) increased 5,754 million yen during the fiscal year under review(3,961 million yen increase year on year). This was comprised of cash flows from operating activities of 4,606
million yen (down 1,591 million yen year on year), cash flows from investing activities of 3,549 million yen-3-

Konishi Co., Ltd. (4956)(down 2,674 million yen year on year), and cash flows used in financing activities of 2,476 million yen (up653 million yen year on year).
As a result, the balance of cash as of March 31, 2023 amounted to 31,268 million yen, an increase of 5,754
million yen year on year.
(i)

Cash flows from operating activities
Net cash provided by operating activities was 4,606 million yen (down 1,591 million yen year on year).
This was mainly due to profit before income taxes of 15,052 million yen, despite a gain on sale of property,
plant and equipment of 7,183 million yen, and an increase in trades receivables and contract assets of
2,973 million yen.

(ii) Cash flows from investing activities
Net cash provided by investment activities was 3,549 million yen (2,674 million yen was used in the same
period of the previous year).
This was mainly due to proceeds from sale of property, plant and equipment of 6,471 million yen, despite
payments into time deposits of 1,607 million yen, and purchase of shares of subsidiaries resulting in achange in the scope of consolidation of 1,475 million yen.
(iii) Cash flows from financing activities
Net cash used in financing activities was 2,476 million yen (up 653 million yen year on year).
This was mainly due to dividends paid of 1,748 million yen, and purchase of treasury shares of 442 million
yen.

-4-

Konishi Co., Ltd. (4956)
Trends in the various cash flow indicators are shown in the table below.
Fiscal year Fiscal year Fiscal year Fiscal year Fiscal year
ended March ended March ended March ended March ended March
31, 2019
31, 2020
31, 2021
31, 2022
31, 2023
Equity ratio

(%)

53.2

56.6

56.9

57.6

57.9

Market value equity
ratio

(%)

53.6

48.9

56.2

46.8

51.0

Interest-bearing debt tocash flow ratio(yearly)

0.2

0.1

0.1

0.1

0.0

Interest coverage ratio(times)

326.3

446.6

513.7

584.5

447.6

Equity ratio:
equity / total assets
Market value equity ratio:
market capitalization / total assets
Interest-bearing debt to cash flow ratio:
interest-bearing debt / cash flow
Interest coverage ratio:
cash flow / interest payments
Note 1: All indicators are calculated using consolidated financial data.
Note 2: Market capitalization is calculated by multiplying the share price at the end of the fiscal year by
the number of issued shares at the end of the fiscal year (excluding treasury shares).
Note 3: Cash flow means cash flows from operating activities.
Note 4: Interest-bearing debt includes the total amount of borrowings on the consolidated balance sheets.
Note 5: The Company has applied “Accounting Standard for Revenue Recognition” (ASBJ Statement
No. 29, March 31, 2020) and relevant revised ASBJ regulations from the beginning of the fiscal
year ended March 31, 2022, and the cash flow indicator for the fiscal year ended March 31, 2021
is the indicator after retrospectively applying the accounting standard and relevant revised ASBJ
regulations.
(4) Future outlook
The Japanese economy in the fiscal year ending March 2024 is expected to recover moderately as
normalization of economic activities progresses. Personal consumption is also expected to remain firm as thetrend of self-restraint from the COVID-19 disaster fades, and wages rise against a backdrop of high prices andlabor shortages. However, further escalation of resource costs due to the prolonged situation in Ukraine andrapidly growing credit concerns about financial institutions in the U.S. and Europe may significantly impact
the recovery of the Japanese economy. Therefore, the outlook remains uncertain.
Under these circumstances, in the Bond Business, the number of housing starts is expected to be at the samelevel as the previous year because, in the housing-related sector, a recovery in housing demand is not expected
due to increased construction costs, etc. On the other hand, in the civil engineering and construction field,
repair, reinforcement, and renovation work in the stock market, such as buildings and condominiums, as wellas in the infrastructure market, is expected to remain strong. Additionally, the outlook for raw material prices
used in adhesives and sealants is uncertain, as prices remain high due to rising energy costs and other factors,
although procurement costs are expected to decline gradually. In the Chemicals Business, growth is expected
to continue in the automotive industry and industrial equipment, despite concerns about a decline in consumer
markets such as smartphones and personal computers. In the Construction Business, demand for thedevelopment and maintenance of aging infrastructure is continuously expected to grow due to the promotionof the Fundamental Plan for National Resilience (to prevent and mitigate disasters).
Under these circumstances, in the Group’s Bond Business, the Group will strengthen its core businesses, suchas adhesives for the housing-related field and adhesives and sealants for civil engineering and construction. It
will also endeavor to expand its business domains by developing products and strengthening new development
activities for growth markets such as the electronic, electronic materials, and automobile industries.
-5-

Konishi Co., Ltd. (4956)
In the Chemicals Business, we will promote the development of products utilizing our own technologies, which
are being promoted by our Material Science Institute, with the aim of introducing them to the market. In
addition, we will work to expand sales of heat-dissipation and heat-resistant products by strengthening sales
activities in the growing markets of automobile, electronics and electrical appliances, and chemical industries.
In the Construction Business, we will work to further expand the repair, reinforcement, and renovation businessin the social infrastructure, such as bridges, and building stock market, by utilizing adhesives and construction
methods for repair, reinforcement, and renovation that the Bond Business possesses. In response to labor
shortages, which is an issue, we will consider measures to strengthen recruitment and secure employment andstrive to build a system to sustain business expansion.
In our consolidated earnings forecasts for the fiscal year ending March 31, 2024, we forecast that net sales will
increase 4.6% year on year to 129,000 million yen, operating profit will go up 25.3% year on year to 9,300
million yen, ordinary profit will rise 22.4% year on year to 9,700 million yen, and profit attributable to ownersof parent will decrease 38.2% year on year to 6,200 million yen.
The main reason for the decrease in profit attributable to owners of parent is that extraordinary income of 7,184
million yen was generated for the first six months of the fiscal year ended March 2023 as a gain on sale of noncurrent assets due to the transfer of non-current assets. (Announced on August 24, 2021)(5) Basic policy on profit distribution and dividends for fiscal 2023 and fiscal 2024
As a basic policy on profit distribution, the Company believes that returning profits to shareholders is a vital
issue facing company management. Our policy is to strive to strengthen the Company’s business base byenhancing financial structure through revenue-focused business activities and to pay a sustainable and stabledividend with a payout ratio of 30% as a guideline based on considerations such as each fiscal year’s businessperformance. We will also strive to improve business performance through measures including investing in
automation, labor-saving manufacturing, and logistics facilities that can improve productivity; expanding
business areas through M&A; and investing in introducing new core systems.
For the fiscal year under review (ended March 31, 2023), the Company forecasts a year-end dividend of 22
yen per share in addition to an interim dividend of 27 yen (including 70th anniversary of the launch of bond(synthetic adhesive) commemorative dividend ¥5.00) already paid, and this will result in an annual dividendof 49 yen. Regarding dividends for the following fiscal year (ending March 31, 2024), the Company forecasts
an interim dividend of 27 yen per share as an ordinary dividend and a year-end dividend of 27 yen and thiswill result in an annual dividend of 54 yen.
2. Basic concept regarding selection of accounting standards
The Group has adopted Japanese accounting standards in order to ensure comparability with other Japanesecompanies in the same industries.

-6-

Konishi Co., Ltd. (4956)
3. Consolidated financial statements and significant notes thereto(1) Consolidated balance sheet(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes receivable–trade
Electronically recorded monetary claims–
operatingAccounts receivable–trade
Contract assets
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
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles,net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Guarantee deposits
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-7-

As of March 31, 2023

26,1695,977

32,195
4,104

10,637

14,667

23,374
5,734
7,280
253
1,305
1,579
(47)
82,26624,898
5,749
9,355
314
1,640
1,565
(57)
94,43425,328(13,361)
11,967
17,489(14,628)

25,493(13,857)
11,635
17,746(15,438)

2,860

2,307

4,340
(3,839)
500
9,818
312
(165)
146
325
25,618811

4,342(3,824)
518
9,906
309
(184)
125
1,252
25,746
1,188

7,628
11
377
1,704
221
527
(17)
10,45336,882
119,148

8,084
2
380
1,791
225
1,040
(17)
11,50638,440132,874

Konishi Co., Ltd. (4956)(Millions of yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable–trade
Electronically recorded obligations–operating
Short-term borrowings
Current portion of long-term borrowings
Lease obligations
Income taxes payable
Contract liabilities
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Lease obligations
Long-term guarantee deposits
Long-term borrowings
Deferred tax liabilities
Retirement benefit liability
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
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeNon-controlling interests
Total net assets
Total liabilities and net assets-8-

As of March 31, 2023

31,73733,983

3,413

3,728

46
104
21
1,238
328
1,125

48
60
20
3,298
360
1,152

116

131

3,063
41,1953,070
45,856

135
2,915
256
966
612
169
5,055
46,251

110
3,010
116
1,300
645
353
5,536
51,392

4,603
4,544
61,164(5,504)64,8084,603
4,557
69,450(5,904)72,707

2,383

2,611

0
270
1,201

(0)
450
1,206

3,856

4,268

4,232
72,897
119,148

4,507
81,482
132,874

Konishi Co., Ltd. (4956)(2) Consolidated statement of income and consolidated statement of comprehensive income
Consolidated statement of income(Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using
equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Depreciation
Compensation expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Other
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Other
Total extraordinary losses
Profit before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

Fiscal year ended March 31, Fiscal year ended March 31,
2022
2023
113,671
123,339
90,66599,75623,006
23,58315,707
16,161
7,298
7,421

-9-

13
210

22
247

19

31

334
577

289
591

10
24
8
9
53
7,822

10
39
17
18
85
7,927

45
152
197

7,185
0
7,185

40
0
40
7,980
2,627
(54)
2,573
5,406
271
5,135

60
0
61
15,052
4,502
206
4,709
10,342
310
10,032

Konishi Co., Ltd. (4956)
Consolidated statement of comprehensive income(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net oftax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests

Fiscal year ended March
31, 2022
5,406

Fiscal year ended March
31, 2023
10,342

(281)

238

0
361

(0)
205

182

4

21

0

283
5,690

449
10,791

5,396

10,444294

347- 10 -

Konishi Co., Ltd. (4956)(3) Consolidated statement of changes in equity
Fiscal year ended March 31, 2022
(Millions of yen)
Share capital
Balance at beginning of
periodChanges during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury shares
Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

4,603

Capitalsurplus
4,526

57,596

4,603

17
4,544

Total shareholders’equity(5,541)

61,185(1,567)(1,567)

5,135

5,135

17

Valuationdifference on
available-forsale securities
Balance at beginning of
periodChanges during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury shares
Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

Shareholders’ equity
Retained
Treasury
earnings
shares3,567
61,164

(0)

(0)

37

55

37
(5,504)

3,623
64,808

Accumulated other comprehensive income
DeferredForeign
Total accumulated
Remeasureme
gains orcurrencyother
nts of defined
losses ontranslation
comprehensive
benefit planshedgesadjustment
income

2,643

(0)

(66)

1,019

3,595

(259)

0

337

182

260

(259)
2,383

0
0

337
270

182
1,201

260
3,856

- 11 -

Konishi Co., Ltd. (4956)
Noncontrollinginterests
Balance at beginning of
periodChanges during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury shares
Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

4,004

Total net
assets
68,785(1,567)
5,135
(0)
55

227

488

227
4,232

4,112
72,897- 12 -

Konishi Co., Ltd. (4956)
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginningof period
Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of
periodCapital surplus

4,603

4,544

Retainedearnings
61,164

Treasury shares

Total
shareholders’equity(5,504)64,808(1,747)(1,747)

10,032

10,032
(442)

(442)

42

55

13

-

13

8,285

(400)

7,898

4,603

4,557

69,450(5,904)72,707

Accumulated other comprehensive income

Balance at beginningof period
Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of
periodDeferred gains
or losses onhedges

2,383

0

270

1,201

3,856

227

(0)

179

4

411

227

(0)

179

4

411

2,611

(0)

450

1,206

4,268

- 13 -

Foreigncurrencytranslation
adjustment

Total
Remeasurements accumulatedof definedotherbenefit planscomprehensive
incomeValuationdifference on
available-forsale securities

Konishi Co., Ltd. (4956)

Balance at beginningof period
Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders’ equity
Total changes during
periodBalance at end of
periodNon-controllinginterests

Total net assets

4,232

72,897(1,747)
10,032
(442)
55

274

686

274

8,584

4,507

81,482- 14 -

Konishi Co., Ltd. (4956)(4) Consolidated statement of cash flows(Millions of yen)
Fiscal year ended March Fiscal year ended March
31, 2022
31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Loss (gain) on sale of investment securities
Loss (gain) on disposal of property, plant andequipment
Loss (gain) on sale of property, plant and equipment
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Decrease (increase) in trade receivables and contract
assetsDecrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in other current liabilities
Increase (decrease) in other non-current liabilities
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Cash flows from operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Proceeds from cancellation of insurance funds
Other
Cash flows from investing activities- 15 -

7,980
2,266
222
(152)

15,052
2,050
106
0

5

33

(45)
(2)
17

(7,183)
6
26

3

14

(37)
115
(224)
10

(48)
0
(270)
10

(19)

(31)

(2,242)(2,973)(1,224)
2,385
(127)
(15)
53
8,971
224
(10)
(2,987)
6,198(2,433)
2,304
(32)
30
256
6,919
270
(10)
(2,573)
4,606(1,655)1,155(2,882)
764
(209)
(66)
220

(1,607)
1,587(1,309)
6,471
(92)
(71)
0

-

(1,475)8(8)(2,674)45
3,549

Konishi Co., Ltd. (4956)(Millions of yen)
Fiscal year ended March Fiscal year ended March
31, 2022
31, 2023
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of lease obligations
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Other
Cash flows from financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 16 -

(6)
(23)
(181)
(0)
(1,564)(66)
20(1,823)

(3)
(22)
(184)
(442)
(1,748)(72)(4)(2,476)

92

75

1,792
23,721
25,514

5,754
25,51431,268

Konishi Co., Ltd. (4956)(5) Notes on premise of going concern
Not applicable.
(6) Changes in significant basic matters for preparation of consolidated financial statements
Changes in presentation
Consolidated statement of income“Foreign exchange gains” in “Non-operating income,” which were independently presented in the previous
fiscal year, are included in “Other” of “Non-operating income” from the fiscal year under review, as they
decreased to no more than 10% of the total amount of non-operating income. To reflect the changes topresentation, the consolidated financial statements of the previous fiscal year have been reclassified.
As a result, the 81 million yen of “Foreign exchange gains” and 252 million yen of “Other” shown in “Nonoperating income” in the consolidated statement of income of the previous fiscal year have been reclassified
as 334 million yen in “Other.”“Gain on sale of investment securities” in “Extraordinary income,” which were independently presented in
the previous fiscal year, are included in “Other” of “Extraordinary income” from the fiscal year under review,as they decreased to no more than 10% of the total amount of extraordinary income. To reflect the changes
to presentation, the consolidated financial statements of the previous fiscal year have been reclassified.
As a result, the 152 million yen of “Gain on sale of investment securities” and 0 million yen of “Other” shownin “Extraordinary income” in the consolidated statement of income of the previous fiscal year have been
reclassified as 152 million yen in “Other.”(7) Notes to consolidated financial statements
Segment information, etc.
Segment information
1

Description of reportable segments
The reportable segments of the Company are constituent units of the Company for which separate
financial information is available. The Board of Directors periodically examines these segments to decideon the allocation of management resources and evaluate business performance.
The Company basically consists of three business divisions, the Bond Business, Chemicals Business, andConstruction Business, with each business formulating a comprehensive strategy that includes Japan andoverseas, and pursuing business activities.
Accordingly, the Group has the following three reportable segments: Bond, Chemicals, and Construction.
“Bond” covers the manufacture and sale of industrial adhesives, adhesives for general household use,
adhesives for construction, adhesives for civil engineering, sealing materials, adhesives for wall coverings,
waxes, and adhesive tapes. “Chemicals” covers the sale of industrial chemicals, synthetic resins, resin
mold products, materials for electronic components, and thin film materials. “Construction” covers
undertaking contracts for repair, improvement, and reinforcement works in the infrastructure and usedbuilding markets.

2

Method of calculating net sales, profit or loss, and other items by reportable segment
The accounting method for the reported business segments is in accordance with the accounting policies
used to prepare the consolidated financial statements.
Values for profits shown in reportable segments are based on operating profit.
Intersegment internal revenues and transfers are based on market prices.

- 17 -

Konishi Co., Ltd. (4956)

3

Disclosure of net sales, profit or loss, and other items by reportable segment
Fiscal year ended March 31, 2022
(Millions of yen)Amount inReportable segments
Bond
Net sales
Revenues from externalcustomers
Intersegment sales andtransfers
Total
Segment profit
Segment assets
Other items
Depreciation
Amortization of goodwill
Investments in equity
method affiliates
Increase in property, plantand equipment andintangible assets

Chemicals Construction

Other(Note) 1

Total

63,61331,84418,020 113,478

315

183

63,9294,606
63,65932,028989
39,246

1,952
15

44
-

84
207

2,082
222

168
-

-

-

-

-

1,305

43

27

1,377

6

505

18,026 113,984
1,674
7,269
11,939 114,844

Adjustment consolidated
financialsstatements(Note) 2(Note) 3

Total

193 113,671-

113,671

588

(588)

-

276 114,260
17
7,287
3,569 118,414

(588)
11
734

113,671
7,298
119,148

2,250
222

16
-

2,266
222

-

-

311

311

735

2,112

-

2,112

83

Notes: 1 The “Other” category is a business segment not included in reportable segments, and includes the realestate rental business.
2 Details of adjustments are as follows:(1) Adjustments of segment profit represent eliminations for intersegment transactions.
(2) The 734 million yen adjustment for segment assets includes minus 210 million yen of eliminationof intersegment receivables and payables, minus 24 million yen of adjustment for unrealized gains,
and 969 million yen of corporate assets not allocated to each reportable segment. Corporate assets
consist mainly of surplus funds under management (time deposits) at the Company and investmentsin equity method affiliates.
(3) Adjustments of depreciation mainly represent depreciation unallocated to the reportable segments.
3 Segment profit is adjusted with operating profit in the consolidated statement of income.

- 18 -

Konishi Co., Ltd. (4956)
Fiscal year ended March 31, 2023
(Millions of yen)Amount inReportable segment
Bond
Net sales
Revenues from externalcustomers
Intersegment sales andtransfers
Total
Segment profit
Segment assets
Other items
Depreciation
Amortization of goodwill
Investments in equity
method affiliates
Increase in property, plantand equipment andintangible assets

Chemicals Construction

Other(Note) 1

Total

68,96834,674

19,514

123,157

331

389

14

734

69,2994,536
68,04335,064
1,265
43,371

19,528
1,606
17,104

123,892
7,408
128,519

1,734
17

35
-

90
88

1,859
106

174
-

-

-

-

-

1,622

55

698

2,376

Adjustment consolidated
financials

Totalstatements(Note) 2

182 123,339(Note) 3-

123,339

815

(815)

-

262 124,155
2
7,411
3,623 132,143

(815)
10
731

123,3397,421
132,874

2,033
106

16
-

2,050
106

-

-

342

342

290

2,667

-

2,667

80

Notes: 1 The “Other” category is a business segment not included in reportable segments, and includes the realestate rental business.
2 Details of adjustments are as follows:(1) Adjustments of segment profit represent eliminations for intersegment transactions.
(2) The 731 million yen adjustment for segment assets includes minus 218 million yen of eliminationof intersegment receivables and payables, minus 26 million yen of adjustment for unrealized gains,
and 977 million yen of corporate assets not allocated to each reportable segment. Corporate assets
consist mainly of surplus funds under management (time deposits) at the Company and investmentsin equity method affiliates.
(3) Adjustments of depreciation mainly represent depreciation unallocated to the reportable segments.
3 Segment profit is adjusted with operating profit in the consolidated statement of income.

- 19 -

Konishi Co., Ltd. (4956)
Disclosure of impairment loss on non-current assets by reportable segment
Fiscal year ended March 31, 2022
Not applicable.
Fiscal year ended March 31, 2023
Not applicable.
Amortization and unamortized balance of goodwill by reportable segment
Fiscal year ended March 31, 2022
(Millions of yen)
Reportable segment
Other

Corporateandelimination

Total

Bond

Chemicals

Construction

Total

Amortization
during period

15

-

207

222

-

-

222

Balance at
end of period

64

-

118

183

-

-

183

Fiscal year ended March 31, 2023
(Millions of yen)
Reportable segment
Other

Corporateandelimination

Total

Bond

Chemicals

Construction

Total

Amortization
during period

17

-

88

106

-

-

106

Balance at
end of period

51

-

472

523

-

-

523

Information about gain on negative goodwill by reportable segment
Fiscal year ended March 31, 2022
Not applicable.
Fiscal year ended March 31, 2023
Not applicable.

- 20 -

Konishi Co., Ltd. (4956)
Per share information(Yen)
Fiscal year ended March 31, 2022

Fiscal year ended March 31, 2023

1,926.62

2,173.91

144.13281.95

Net assets per share
Basic earnings per share

Notes: 1 Diluted earnings per share is not stated because there were no potential shares.
2 The basis for calculation is as follows:(i) Net assets per share
As of March 31, 2022

As of March 31, 2023

Total net assets (millions of yen)

72,897

81,482

Net assets attributable to common shares(millions of yen)

68,664

76,975

4,232

4,507

Number of issued common shares(thousand shares)

40,70740,707

Number of treasury common shares(thousand shares)

5,067

5,298

Number of common shares used for
calculating net assets per share (thousand
shares)35,64035,408

Fiscal year ended March 31,
2022

Fiscal year ended March 31,
2023

Profit attributable to owners of parent(millions of yen)

5,135

10,032

Amounts not attributable to commonshareholders (millions of yen)--

Profit attributable to owners of parent
related to common shares (millions of
yen)

5,135

10,032Average number of outstanding commonshares during period (thousand shares)

35,62935,583Main details of differences (millions ofyen)
Non-controlling interests(ii) Basic earnings per share

Omission of disclosure
Notes other than the above are omitted because their disclosure is considered unnecessary in reports offinancial results.
Significant events after reporting period
Not applicable.

- 21 -

Konishi Co., Ltd. (4956)
4.

Other
Change in officers(i) Change in representative
Not applicable.
(ii) Change in other officers (scheduled as of June 20, 2023)
1. Candidates for new Directors
Director: Shinichi Okamoto
Director: Yosuke Higo
Note: Mr. Yosuke Higo is a candidate for outside Director.
2. Director scheduled to retire
Director: Shozo Arisawa- 22 -

Konishi Co., Ltd. (4956)

Reference: Supplementary Information on Financial Results for the Fiscal Year
Ended March 31, 2023
1. Financial Results and Forecasts(Millions of yen)

Fiscal year
ended March 31,
2023
Full year
123,339
7,421
7,927

Fiscal year ending March 31, 2024 (forecast)
Full year
Changes (amount)
129,000
5,660
9,300
1,878
9,700
1,772

Changes (%)
4.6%
25.3%
22.4%

Net sales
Consolidated
Operating profit
Consolidated
Ordinary profit
Consolidated
Profit attributable toConsolidated*10,032
6,200(3,832)(38.2)%
owners of parent* Significant increase due to gain on sale of non-current assets of 7.1 billion yen recorded under extraordinary
income2. Financial Results and Forecasts by Segment(Millions of yen)

Bond

Chemicals

Construction

Other

Net sales
OperatingprofitNet sales
OperatingprofitNet sales
OperatingprofitNet sales
OperatingprofitNet sales

Adjustments

Total

OperatingprofitNet sales
OperatingprofitFiscal year
ended March 31,
2023
Full year
68,968

Fiscal year ending March 31, 2024 (forecast)
Full year
Changes (amount)
72,000
3,031

Changes (%)
4.4%

4,536

6,200

1,663

36.7%

34,67435,000

325

0.9%

1,265

1,300

34

2.7%

19,51421,800

2,285

11.7%

1,606

1,700

93

5.8%

182

200

17

9.8%

2

100

97

3233.5%

－

－

－

－

10

0

(10)

(100.0)%123,339

129,000

5,660

4.6%

7,421

9,300

1,878

25.3%

- 23 -

Konishi Co., Ltd. (4956)

3. Indicators(Millions of yen)

Capital investment
Depreciation
Research anddevelopment

Consolidated
Consolidated

Fiscal year
ended March 31,
2023
Full year
2,667
2,050

Consolidated

1,645

Fiscal year ending March 31, 2024 (forecast)
Full year
Changes (amount)
6,689
4,022
1,947
(102)
1,745

99

Changes (%)
150.8%(5.0)%
6.1%

Note 1: Figures are rounded down to the nearest 1 million yen.
Note 2: Changes (amount and %) are presented in comparison with the same period of the previous fiscal year.

- 24 -