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 Third Quarter of the Fiscal Year Ending March 2024
(Japanese Standards) (Consolidated Basis)
February 14, 2024
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 Department
Corporate Planning & Administration
Division

Tokyo Stock Exchange

Hiroyuki Kobayashi

Planned quarterly report submission dateFebruary 14, 2024

Planned dividend payment start date

None

Availability of supplementary quarterly results materials:

Yes

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

1.

Consolidated results for Q3 FY2023 (April 1, 2023, to December 31, 2023)(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

Quarterly profit
attributable to ownersof parent

Ordinary profit% Millions of yen%

Millions of yen%

Q3 FY2023

104,852

4.2

6,264(32.0)

7,095 (29.0)

4,947(29.5)

Q3 FY2022

100,668

7.5

9,212

73.6

9,986

7,019

72.0

(Note) Comprehensive income:

Q3 FY2023
Q3 FY2022

69.0

8,622 million yen (up 14.6%)
7,524 million yen (up 78.1%)

Basic earnings per share

Diluted earnings per shareYenYen

Q3 FY2023

61.85―Q3 FY202287.67―(2) Consolidated financial position
Total assets
Q3 FY2023

Equity Q3 FY2023
FY2022

Capital adequacy ratio

Millions of yen
182,485

Millions of yen
105,979%57.8

179,688

101,167

56.0

FY2022(Reference)

Net assets

105,405 million yen
100,599 million yen

2.

Dividend status
Annual dividend
Q1

Q2

Q3

Q4TotalYen

Yen

Yen

Yen

Yen

FY2022

―

19.00

―

24.00

43.00

FY2023

―

24.00

―
24.00

48.00

FY2023 (forecast)(Note) Revisions of the most recently announced dividend forecast: None3.

Consolidated earnings forecast for FY2023 (April 1, 2023, to March 31, 2024)(Percentages indicate percent of change from the previous year.)Net sales
FY2023Operating profit

Millions of yen%

146,000

2.3

Millions of yen% Millions of yen

10,300 (25.4)(Note) Revisions of the most recently announced earnings forecast: None

Profit attributable toowners of parent

Ordinary profit% Millions of yen

11,000 (25.1)

Basic earnings
per share%Yen

7,700 (20.0)

96.25

○ 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)

Q3 consolidated cumulative period of FY2023Segment

OrdersreceivedNet sales

OperatingprofitBacklog

Change from the corresponding periodof FY2022
Ordersreceived

Net sales

OperatingprofitDomestic Environment and Energy
Business

115,031

83,154

6,549

479,52249,913

1,131(3,436)

Overseas Environment and Energy
Business

1,834

1,652

43

6,209

682

790

167

Package Boiler Business

14,863

13,513

895

7,290

649

1,425

356

Equipment and Systems Business

6,758

6,828

621

11,574(4,660)

867

22

Total

138,487

105,1508,109

504,597

46,584

4,214(2,890)

(264)

(297)

(1,845)

(15)

7(30)

(58)

138,223

104,852

6,264

504,58246,591

4,184(2,948)

Adjustments
Total

During the Q3 consolidated cumulative period of FY2023, orders received rose 46,591 million yen from thecorresponding quarter of FY2022 to 138,223 million yen due primarily to growth in the Domestic Environment andEnergy Business, while net sales rose 4,184 million yen to 104,852 million yen on growth in all segments.
Operating profit fell 2,948 million yen compared to the corresponding period of FY2022 to 6,264 million yen, while
ordinary profit fell 2,891 million yen to 7,095 million yen. Profit attributable to owners of parent fell 2,071 million
yen to 4,947 million yen. These results were due to a decrease in profits in the Domestic Environment and Energy
Business.
A description of each segment’s results follows.

―2―

Domestic Environment and Energy Business
During the Q3 consolidated cumulative period of FY2023, orders received rose 49,913 million yen from thecorresponding period of FY2022* to 115,031 million yen thanks to orders for one DBO project (encompassingconstruction and operation) for a waste treatment plant; seven orders for new energy-plant construction, including
for biomass power generation; a new large equipment replacement project involving a sand filtration system at asewage treatment plant; and a sewage sludge-fueled power plant. Net sales rose 1,131 million yen from thecorresponding period of FY2022 to 83,154 million yen due primarily to growth in after-sales service. Turning toprofitability, operating profit fell 3,436 million yen to 6,549 million yen due to changes in the project mix in the EPC
business, an increased depreciation burden accompanying operations at the new Harima Factory, growth in operating
expenses such as personnel expenses and R&D costs, and a charge to restore operations during the Q2 consolidated
accounting period following an equipment issue at a waste treatment plant (gasification melting furnaces) we operate
under an O&M contract. The impact of that charge on profit during the Q3 consolidated cumulative period of FY2023
is about 1 billion yen.
*Principal orders during the corresponding period of FY2022 included one waste treatment plant primary equipment
improvement project, one long-term O&M project, and six new energy-plant construction projects.
＜Orders received and net sales (cumulative quarterly total)＞＜Orders received and net sales (by quarter)＞―3―

Overseas Environment and Energy Business
During the Q3 consolidated cumulative period of FY2023, orders received rose 682 million yen from thecorresponding period of FY2022 to 1,834 million yen thanks primarily to the posting of additional orders as part ofa waste treatment plant project in Vietnam for which we booked an order during FY2022. At the same time, net salesrose 790 million yen from the corresponding period of FY2022 to 1,652 million yen, while operating profit totaled
43 million yen, improved from a 124 million yen operating loss, due to factors including growth in maintenance sales
and progress on previously ordered plants.
＜Orders received and net sales (cumulative quarterly total)＞

Package Boiler Business
During the Q3 consolidated cumulative period of FY2023, orders received rose 649 million yen from thecorresponding period of FY2022 to 14,863 million yen as we booked orders for large projects. Net sales climbed
1,425 million yen to 13,513 million yen, while operating profit rose 356 million yen to 895 million yen, reflecting
factors including progress on previously ordered projects and completion of large projects.
＜Orders received and net sales (cumulative quarterly total)＞―4―

Equipment and Systems Business
Orders received during the Q3 consolidated cumulative period of FY2023 fell 4,660 million yen from thecorresponding period of FY2022 to 6,758 million yen as the pace of orders slowed following the receipt of orders fora number of large projects in the building equipment business during FY2022 and as sales of semiconductor
manufacturing equipment fell. However, net sales rose 867 million yen to 6,828 million yen, while operating profit
rose 22 million yen to 621 million yen thanks to progress on previously ordered projects.
＜Orders received and net sales (cumulative quarterly total)＞

The Domestic Environment and Energy Business expects to book orders for waste treatment plant construction andoperation during Q4. In addition, we're making smooth progress on construction of previously ordered plants, andwe continue to work to realize our fiscal-year targets of 170,000 million yen in orders received and 11,000 million
yen in ordinary profit.

(2) Explanation concerning forward-looking statements such as consolidated earnings forecasts
The Group expects to see continued demand for its principal products, including replacement and service life
extensions for aging waste treatment plants, and construction of biomass power plants against a backdrop of favorable
energy policies. However, uncertainty about the future continues, rising prices for steel and other materials andequipment, and growing lead times.
With regard to the Group's FY2023 performance under these conditions has been no change in the consolidated fullyear performance outlook announced on November 8, 2023.
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.
・ 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 FY2022(March 31, 2023)

Q3 FY2023(December 31, 2023)

AssetsCurrent assets
Cash and deposits

65,24251,078

Notes and accounts receivable - trade, and contract assets
Inventories

60,851
6,011

64,10012,091Other
Allowance for doubtful accounts

2,159
(15)

5,277
(15)

134,249

132,533

Property, plant and equipment
Intangible assets

18,436
540

19,527702

Investments and other assets
Investment securities

18,28023,369Other
Allowance for doubtful accounts

8,317
(135)

6,487
(135)

Total investments and other assets

26,462

29,721

Total current assets
Non-current assets

Total non-current assets
Total assets―6―45,43949,952

179,688

182,485

(Unit: Millions of yen)
Q4 FY2022(March 31, 2023)

Q3 FY2023(December 31, 2023)

Liabilities
Current liabilities
Notes and accounts payable - trade26,61024,948

Electronically recorded obligations - operating
Short-term borrowings

14,749220

17,549220

Income taxes payable
Contract liabilities

3,362
11,059565
12,594

Provision for bonuses
Provision for product warranties

3,789
215

2,340
178

Provision for loss on construction contracts
Other

625
6,208

1,073
4,849

Total current liabilities

66,84064,319266
10,980257
11,501433427

Non-current liabilities
Provision for retirement benefits for directors (and other officers)
Retirement benefit liability
Other
Total non-current liabilities

11,68012,18678,521

76,505

Share capital
Capital surplus

13,367
3,873

13,3673,886

Retained earnings
Treasury shares

82,045(3,916)

83,153(3,827)

Total shareholders’ equity

95,37096,580Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

5,227

8,829

Deferred gains or losses on hedgesForeign currency translation adjustment

4891

(23)
121

Remeasurements of defined benefit plans

(138)

(102)

Total accumulated other comprehensive income

5,229

8,824

567

574

Total net assets

101,167

105,979

Liabilities and net assets

179,688

182,485

Non-controlling interests―7―(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement ofComprehensive Income
Quarterly Consolidated Statement of Income
Third quarterly consolidated cumulative accounting period (Q3)
(Unit: Millions of yen)
Q3 FY2022(April 1, 2022,to December 31, 2022)

Q3 FY2023(April 1, 2023,
to December 31, 2023)

Net sales

100,668

104,852

Cost of sales

78,82384,813Gross profit

21,844

20,039Selling, general and administrative expenses

12,631

13,774

Operating profit

9,212

6,264

Interest income
Dividend income

14
534

18
610

Share of profit of entities accounted for using equity method
Other

104
181

110
142

Total non-operating income

834

882

11

Commitment fees
Loss on disposal of non-current assets

21
17

21
12

Other

20

15

Total non-operating expenses

60

51

9,986

7,095

153

486

153

486

185-

438
63

Non-operating income

Non-operating expenses
Interest expenses

Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
New factory construction expenses
Other
Total extraordinary losses

185

501

Quarterly profit before income taxes

9,955

7,079

Income taxes

2,875

2,061

Quarterly profit

7,079

5,018

Quarterly profit attributable to non-controlling interests
Quarterly profit attributable to owners of parent―8―6070

7,019

4,947

Quarterly Consolidated Statement of Comprehensive Income
Third quarterly consolidated cumulative accounting period (Q3)
(Unit: Millions of yen)
Q3 FY2022(April 1, 2022,
to December 31, 2022)
Quarterly profit
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment

Q3 FY2023(April 1, 2023,
to December 31, 2023)

7,079

5,018

398

3,602

(17)
6(72)
38

Remeasurements of defined benefit plans, net of tax

56

35

Total other comprehensive income

444

3,603

Quarterly comprehensive income

7,524

8,622

Comprehensive income attributable toQuarterly comprehensive income attributable to owners ofparent
Quarterly comprehensive income attributable to noncontrolling interests

7,462

8,542

61

79―9―

3. Supplementary forecast materials(1) Consolidated earnings forecast by segment(Unit: Millions of yen)
FY2023 (forecast)
Segment
Orders received

Net sales

Backlog

Domestic Environment and Energy Business

141,500

116,000

473,146

Overseas Environment and Energy Business

3,000

2,000

7,028

Package Boiler Business

18,00018,0005,940

Equipment and Systems Business

8,000

10,5009,144

170,500

146,500

495,260

(500)

(500)

(48)

170,000146,000

495,211

Total
Adjustments
Total(2) Consolidated capital investment, depreciation, and research and development expenses forecast(Unit: Millions of yen)
FY2022(actual)

FY2023(forecast)

ChangeCapital investment

7,100

3,600(3,500)

Depreciation

1,136

1,900763

Research and development expenses

1,150

2,000

849

―10―

4. Supplementary Materials
Domestic Environment and Energy Business Breakdown(Unit: Billions of yen)
Q3 FY2023 (actual)

Orders received
Municipal Solid Waste Plants (EPC)

Net sales

Backlog

12.1

23.5

115.9

45.0

29.0

248.9

Energy Plants

32.2

22.8

85.3

Water Treatment Plants, other

25.3

7.5

29.3

Adjustments

0.2

0.2

0

115.0

83.1

479.5

Municipal Solid Waste Plants (after sales servicebusiness)

Total―11―