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.

Summary of Results for the First Quarter of the Fiscal Year Ending March 2023
(Japanese Standards) (Consolidated Basis)
August 4, 2022
Name of listed company Takuma Co., Ltd.

Listed stock exchange

Listing code 6013
Representative

URL https://www.takuma.co.jp/english/
Hiroaki Nanjo

Contact for inquiries

President and Representative Director
Manager, Corporate Communications &Investor Relations DepartmentCorporate Planning & Administration
Division

Tokyo Stock Exchange

Hiroyuki Kobayashi

Planned quarterly report submission dateAugust 4, 2022

Planned dividend payment start date

None

Availability of supplementary quarterly results materials:

None

Quarterly results briefing:

None(E-mail)koho-ir@takuma.co.jp(All amounts rounded down to the nearest million yen)

1.

Consolidated results for Q1 FY2022 (April 1, 2022, to June 30, 2022)(Percentages indicate percent of change from thecorresponding quarter of the previous year.)(1) Consolidated results (cumulative)
Net sales

Operating profit

Millions of yen%

Millions of yen%

Q1 FY2022

30,940

14.1

2,194

109.8

2,536

100.0

1,730

118.4

Q1 FY2021

27,112(16.0)

1,045(52.8)

1,268 (49.8)

792(57.6)(Note) Comprehensive income:Q1 FY2022
Q1 FY2021% Millions of yen

Quarterly profit
attributable to ownersof parent

Ordinary profit% Millions of yen

1,859 million yen (up 327.1 %)435 million yen (down 83.5 %)Basic earnings per share

Diluted earnings per share

YenYenQ1 FY2022

21.56―Q1 FY2021

9.76―(2) Consolidated financial position
Total assets
Q1 FY2022

Equity Q1 FY2022
FY2021

Capital adequacy ratio

Millions of yen
167,554

Millions of yen
93,396%55.5

174,535

94,35453.8

FY2021(Reference)

Net assets

92,929 million yen
93,908 million yen

2.

Dividend status
Annual dividend
Q1Q2

Q3

Q4

TotalYen

Yen

Yen

Yen

Yen

FY2021

―

18.00

―

18.00

36.00

FY2022

―
18.00

―

18.00

36.00

FY2022 (forecast)(Note) Revisions of the most recently announced dividend forecast: None3.

Consolidated earnings forecast for FY2022 (April 1, 2022, to March 31, 2023)(Percentages indicate percent of change from the previous year.)Net sales
FY2022

Operating profit

Millions of yen%

Millions of yen

143,000

6.6

11,800% Millions of yen

18.8(Note) Revisions of the most recently announced earnings forecast: None

Profit attributable toowners of parent

Ordinary profit
12,500% Millions of yen

17.4

8,800

Basic earnings
per share%

Yen

18.4

110.03

○ Attachments
1.
(1)
(2)
2.
(1)
(2)

Qualitative information related to the quarterly results under review ......................................................... 2Explanation of business results .................................................................................................................... 2Explanation concerning forward-looking statements such as consolidated earnings forecasts ................... 5
Quarterly Consolidated Financial Statements .............................................................................................. 6
Quarterly Consolidated Balance Sheet ........................................................................................................ 6
Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement ofComprehensive Income ............................................................................................................................... 83. Supplementary forecast materials ................................................................................................................ 10(1) Consolidated earnings forecast by segment ................................................................................................. 10(2) Consolidated capital investment, depreciation, and research and development expenses forecast ............. 104. Supplementary Materials ............................................................................................................................. 11
Domestic Environment and Energy Business Breakdown......................................................................... 11―1―1. Qualitative information related to the quarterly results under review
Forward-looking statements in the text reflect the judgment of management as of the last day of the quarterly
consolidated accounting period under review.

(1) Explanation of business results(Unit: Millions of yen)

Q1 consolidated cumulative period of FY2022Segment

OrdersreceivedNet sales

OperatingprofitBacklog

Change from the corresponding periodof FY 2021
Ordersreceived

Net sales

OperatingprofitDomestic Environment and Energy
Business

24,29325,6192,752

432,025(4,364)

3,226

1,141

Overseas Environment and Energy
Business287

284(70)

1,460

56

159

27

Package Boiler Business

5,389

3,354(67)

6,887

326

162

62

Equipment and Systems Business

2,967

1,771

145

6,872

1,303

199

(24)

Total

32,93831,0302,759

447,245(2,678)

3,747

1,207

(82)

(89)

(565)

(26)

381(59)32,85530,9402,194

447,219(2,675)

3,8281,148

Adjustments
Total

During the Q1 consolidated cumulative period of FY2022, orders received totaled 32,855 million yen, down 2,675
million yen from the corresponding quarter of FY2021, due primarily to a contraction in the Domestic Environment
and Energy Business, while net sales rose 3,828 million yen to 30,940 million yen, due primarily to an increase in
the Domestic Environment and Energy Business.
Operating profit rose 1,148 million yen compared to the corresponding period of FY2021 to 2,194 million yen, whileordinary profit rose 1,268 million yen to 2,536 million yen. Profit attributable to owners of parent rose 938 million
yen to 1,730 million yen. These results were due primarily to an increase in profits in the Domestic Environment andEnergy Business.
Although there are signs of a recovery from the contraction in demand caused in some segments by the COVID-19
pandemic, the future trajectory of the market remains difficult to predict due to a resurgence in infections. Prices forequipment and materials such as steel continue to rise, making caution with regard to future developments.
A description of each segment’s results follows.

―2―

Domestic Environment and Energy Business
During the Q1 consolidated cumulative period of FY2022, continued efforts to take advantage of robust demandyielded orders that included one primary equipment improvement project at a waste treatment plant and two new
biomass power plant construction projects. However, orders received fell 4,364 million yen to 24,293 million yen
compared to the corresponding period of FY2021*. Net sales rose 3,226 million yen to 25,619 million yen due
primarily to changes in the project mix in the EPC business, while operating profit rose 1,141 million yen to 2,752
million yen.
*Principal orders during the corresponding period of FY2021 included one long-term O&M project at a waste
treatment plant and one new biomass power plant construction project.
＜Orders received and net sales (cumulative quarterly total)＞（Units：Billions of yen）

Orders received
Net sales
164.8

160.5

141.5
123.1
108.1

120.7

117.5

108.6

69.7

Q1

28.622.3

27.2

20.2 20.9
Q2
Q3
Q4Cumulative Cumulative Cumulative

Q1

Q2
Q3
Q4
Cumulative Cumulative Cumulative

FY2019Q1

24.225.6

Q2Q3
Q4Cumulative Cumulative Cumulative

FY2020Q1Q2Q3
Q4Cumulative Cumulative Forecast

FY2021

FY2022＜Orders received and net sales (by quarter)＞（Units：Billions of yen）

Orders received
Net sales
78.0

69.7
47.7
36.1
25.0 26.1
20.2 20.9
19.0

35.9

48.8
33.8 32.3
33.6
28.6
27.2 31.7 28.2
25.7 27.7
24.7
22.3

32.7
24.225.6

9.2
Q1

Q2

Q3
FY2019Q4Q1

Q2

Q3Q4Q1

FY2020Q2

Q3
FY2021―3―Q4Q1

Q2

Q3
FY2022Q4

Overseas Environment and Energy BusinessAs during the Q1 consolidated cumulative period of FY2022, maintenance service offered by our local subsidiaries
in Taiwan and Thailand accounted for a substantial share of both orders and sales during the quarter under review as
the segment notched orders received of 287 million yen, net sales of 284 million yen, and operating loss of 70 million
yen, all slight improvements over the previous fiscal year.
＜Orders received and net sales (cumulative quarterly total)＞（Units：Billions of yen）

Orders received
Net sales3.02.01.3
1.10.60.3
Q1

1.10.80.2 0.2

Q2
Q3
Q4
Cumulative Cumulative Cumulative

Q1

FY20191.00.2 0.1

Q2
Q3
Q4Cumulative Cumulative Cumulative

Q1

FY20201.00.2 0.2

Q2
Q3
Q4Cumulative Cumulative Cumulative

Q1

FY2021Q2
Q3
Q4Cumulative Cumulative Forecast
FY2022

Package Boiler BusinessThanks to a recovery trend in equipment utilization and new-equipment demand, both of which had fallen due to thepandemic, orders received during the Q1 consolidated cumulative period of FY2022 rose 326 million yen from theprevious fiscal year to 5,389 million yen, while net sales rose 162 million yen to 3,354 million yen. Operating loss
fell from 129 million yen to 67 million yen.
＜Orders received and net sales (cumulative quarterly total)＞（Units：Billions of yen）

Orders received
Net sales

17.9 17.8

4.9
3.2

5.0
3.4

Q1

17.516.9

Q2
Q3
Q4
Cumulative Cumulative Cumulative
FY2019

Q1

5.3
3.3

5.0
3.1

Q2
Q3
Q4
Cumulative Cumulative Cumulative

17.0 17.0

16.816.4

Q1

FY2020Q2Q3
Q4Cumulative Cumulative Cumulative
FY2021

―4―Q1

Q2
Q3
Q4
Cumulative Cumulative Forecast
FY2022

Equipment and Systems Business
Orders received the Q1 consolidated cumulative period of FY2022 rose 1,303 million yen from the previous fiscal
year to 2,967 million yen amid a brisk market for semiconductor industry equipment and signs of a recovery indemand from the effects of the pandemic in the building equipment business. In addition, net sales rose 199 million
yen from FY2021 to 1,771 million yen, while operating profit fell 24 million yen to 145 million yen due to factors
including rising equipment and material prices.
＜Orders received and net sales (cumulative quarterly total)＞（Units：Billions of yen）

Orders received
Net sales
10.1

2.6
1.6

1.5 1.7
Q1

Q2
Q3
Q4
Cumulative Cumulative Cumulative
FY2019

Q1

2.9
1.7

1.6 1.5
Q2
Q3
Q4
Cumulative Cumulative Cumulative

9.0
8.0

8.9 8.5

8.2

7.8
6.7

Q1

FY2020Q2
Q3
Q4Cumulative Cumulative Cumulative
FY2021

Q1

Q2
Q3
Q4
Cumulative Cumulative Forecast
FY2022During the second quarter and beyond, we expect to book orders in our Domestic Environment and Energy Businessfor waste treatment plant construction and operation projects, as well as biomass power plants and other facilities,
and we continue to make steady progress on the construction of previously ordered plants. The Group’s performance
has not been substantially affected by the COVID-19 pandemic, and we continue to work to realize our fiscal-yeartargets of 170,000 million yen in orders received and 12,500 million yen in ordinary profit. However, potential effects
in the event of a worsening of the pandemic might include fewer new orders if demand slows and new orders aredelayed, as well as lower net sales if delivery of existing orders is delayed.

(2) Explanation concerning forward-looking statements such as consolidated earnings forecasts
The Group expects to see continued demand for its principal products, including replacements and service life
extensions for aging waste treatment plants, and construction of biomass power plants, against a backdrop offavorable energy policies. In addition, uncertainty about the future continues, including due to the resurgence of
infections in the COVID-19 pandemic, confusion from the situation in Russia-Ukraine, rising prices for steel andother materials and equipment, and growing lead times.
Against this backdrop, the Group’s performance during FY2022 remained robust during the Q1 consolidated
cumulative period of FY2022, and FY2022 earnings forecast announced on May 13, 2022, has not been changed.
The Group manages its results exclusively on an annual basis because our results tend to fluctuate seasonally, forexample Q4 net sales significantly exceed those of other quarters. The reason is that many projects are delivered justbefore the end of the consolidated fiscal year, so progress and transfers of facilities to customers tend to increase as
Q4 progresses.
Additionally, should the effects of the COVID-19 pandemic broaden or last longer than anticipated, our performance
could be affected, for example in the form of a decline in new orders due to contracting demand or delayed orders ora slowdown in net sales as a result of delays in deliveries of previously ordered projects. These earnings forecasts do
not take such potential impacts into account. In the event it becomes necessary to revise the earnings forecast due toan expansion in the effects of the pandemic, we will make that information available in a timely and appropriatemanner.
• Earnings forecasts and other forward-looking statements in this document are based on information currently
available to the Company and on certain assumptions that are deemed to be reasonable. They do not constitute acommitment on the part of the Company to achieve any particular level of performance. Actual performance may
diverge significantly for a variety of reasons.
―5―2. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheet(Unit: Millions of yen)
Q4 FY2021(March 31, 2022)

Q1 FY2022(June 30, 2022)

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

42,97982,10173,333
41,250Inventories
Other

4,604
4,646

6,451
5,379

Allowance for doubtful accounts

(16)

(15)

134,315

126,398

Property, plant and equipment
Intangible assets

12,346298

14,206470

Investments and other assets
Investment securities

Total current assets
Non-current assets

17,012

16,323

Other
Allowance for doubtful accounts

10,697

10,290

(134)

(134)

Total investments and other assets

27,574

26,479Total non-current assets
Total assets―6―40,22041,156

174,535

167,554

(Unit: Millions of yen)
Q4 FY2021(March 31, 2022)

Q1 FY2022(June 30, 2022)

Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating

33,07016,493

21,553
17,106

Short-term borrowings
Income taxes payable

300
500

280
426

Contract liabilities
Provision for bonuses

8,669
3,375

12,058
1,467

Provision for product warranties
Provision for loss on construction contracts

52
1,516

212
1,240

Other

4,724

8,182

Total current liabilities

68,70462,526

246
10,791

238
10,958Non-current liabilities
Provision for retirement benefits for directors (and other officers)
Retirement benefit liability
Other

439

434

11,477

11,63180,181

74,158

Share capital
Capital surplus

13,367
3,872

13,367
3,872

Retained earnings
Treasury shares

75,50775,673(2,765)(4,017)

Total shareholders’ equity

89,981

88,895

3,956
110

3,954
157Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans

79

123

(220)

(201)

Total accumulated other comprehensive income

3,926

4,033

Non-controlling interests

445

467

Total net assets

94,354

93,396

Liabilities and net assets

174,535

167,554―7―

(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement ofComprehensive Income
Quarterly Consolidated Statement of Income
First quarterly consolidated cumulative accounting period (Q1)
(Unit: Millions of yen)
Q1 FY2021(April 1, 2021,to June 30, 2021)

Q1 FY2022(April 1, 2022,to June 30, 2022)

Net sales

27,11230,940

Cost of sales

22,147

24,583Gross profit

4,965

6,357

Selling, general and administrative expenses

3,919

4,162

Operating profit

1,045

2,194

3247

4322

Share of profit of entities accounted for using equity method

2

Other27－59

Total non-operating income

280

386

Non-operating incomeInterest income
Dividend income

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Commitment fees
Other
Total non-operating expenses

20－748

197
1758

44

1,268

2,536

New factory construction expenses

7651

Total extraordinary losses

76

51

Quarterly profit before income taxes

Ordinary profit
Extraordinary losses

1,191

2,485

Income taxes

405

748

Quarterly profit

786

1,736

Quarterly profit (loss) attributable to non-controlling interests(6)

5

Quarterly profit attributable to owners of parent

792

1,730―8―

Quarterly Consolidated Statement of Comprehensive Income
First quarterly consolidated cumulative accounting period (Q1)
(Unit: Millions of yen)
Q1 FY2021(April 1, 2021,to June 30, 2021)
Quarterly profit
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Q1 FY2022(April 1, 2022,to June 30, 2022)
786

1,736(379)

(2)
46(6)
15
19

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Quarterly comprehensive income

5918(350)

122435

1,859

437

1,838(1)21Comprehensive income attributable to
Quarterly comprehensive income attributable to owners of parent
Quarterly comprehensive income attributable to non-controllinginterests―9―3. Supplementary forecast materials(1) Consolidated earnings forecast by segment(Unit: Millions of yen)
FY2022 (forecast)
Segment
Orders received

Net sales

Backlog

Domestic Environment and Energy Business

141,500

117,500

457,351

Overseas Environment and Energy Business

3,000

1,000

3,457

Package Boiler Business

17,00017,0004,852

Equipment and Systems Business9,000

8,000

6,676

170,500

143,500

472,337

(500)

(500)

(33)

170,000

143,000

472,304

TotalAdjustments
Total(2) Consolidated capital investment, depreciation, and research and development expenses forecast(Unit: Millions of yen)
FY2021(actual)
Capital investment
Depreciation
Research and development expenses―10―

FY2022(forecast)

Change

3,844

9,000

5,155

961

1,300

338

1,006

1,600593

4. Supplementary Materials

Domestic Environment and Energy Business Breakdown（Unit：Billions of yen）
Q1 FY2022 (actual)

Orders received

Net sales

Backlog

2.4

6.4

117.413.6

7.2

228.1

Energy Plants

6.6

9.5

74.2

Water Treatment Plants, other

1.5

2.2

12.1

000

24.2

25.6

432.0

Municipal Solid Waste Plants (EPC)
Municipal Solid Waste Plants (after sales service
business)

Adjustments
Total―11―