Consolidated Financial Results
for the Three Months Ended June 30, 2022
[Japanese GAAP]
July 28, 2022
Company name: Daihatsu Diesel Mfg. Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 6023
URL: http://www.dhtd.co.jp
Representative: Yoshinobu Hotta, President
Contact: Takashi Mizushina, Director
Phone: +81-6-6454-2331
Scheduled date of filing quarterly securities report: August 9, 2022
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Not available
Schedule of quarterly financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 1, 2022 to June 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Three months ended
Million yen%
Million yen%
Million yen%
Million yen%
June 30, 2022
14,078 20.8
436 352.5
570
320.2
475
136.2
June 30, 2021
11,656
(8.1)
96
135
201
(Note) Comprehensive income: Three months ended June 30, 2022: 657 million yen [242.5%]
Three months ended June 30, 2021: 191 million yen [-%]
Basic earnings per share

Three months ended
June 30, 2022
June 30, 2021
(2) Consolidated Financial Position
Total assets

Diluted earnings per share
Yen

Yen

15.04
6.35

-

Net assets

Million yen

Equity ratio

Million yen%

43,11443,06947.9
48.2

As of June 30, 2022
89,855
As of March 31, 2022
89,268(Reference) Equity: As of June 30, 2022: 43,074 million yen
As of March 31, 2022: 43,030 million yen
2. Dividends

Annual dividends
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen
Yen
Yen
Fiscal year ended
March 31, 2022
0.00
Fiscal year ending
March 31, 2023
Fiscal year ending
March 31, 2023
0.00
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

Year-end

Total
Yen

Yen

15.00

15.00

15.00

15.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 toMarch 31, 2023)(% indicates changes from the previous corresponding period.)
Net sales
Million yen

Operating profit%

Million yen

Ordinary profit% Million yen%

First half
29,000 24.1
200
(38.3)
200(67.6)
Full year
65,000 12.8
2,700
29.0
2,700
7.7
(Note) Revision to the financial results forecast announced most recently: None

Profit attributableto owners of parent
Million yen
200
2,200

Basic earnings
per share%(66.6)
11.8

Yen
6.27
69.07

* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting
in changes in scope of consolidation): No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2022: 31,850,000 shares
March 31, 2022: 31,850,000 shares2) Total number of treasury shares at the end of the period:
June 30, 2022: 385,335 shares
March 31, 2022: 93,335 shares
3) Average number of shares during the period:
Three months ended June 30, 2022: 31,631,523 shares
Three months ended June 30, 2021: 31,725,659 shares* These quarterly financial results are outside the scope of quarterly review procedures conducted by a certified
public accountant or audit corporation.
* Explanation of the proper use of financial results forecast and other notes
The financial results forecasts and other forward-looking statements herein are based on information and certain
assumptions deemed reasonable as of the date of publication of this document. Actual results may differ
significantly from these forecasts due to a wide range of factors. Please refer to “Explanation of Consolidated
Financial Results Forecast and Other Forward-looking Information” on page 3 of the attached material for theassumptions the financial results forecasts are based on, and notes on their use.

Table of Contents

1. Qualitative Information on Quarterly Financial Results for the Period under Review ............................................. 2(1) Explanation of Operating Results ........................................................................................................................ 2(2) Explanation of Financial Position ........................................................................................................................ 3(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information ......................... 3
2. Quarterly Consolidated Financial Statements and Primary Notes ............................................................................... 4(1) Quarterly Consolidated Balance Sheets ............................................................................................................... 4(2) Quarterly Consolidated Statements of Income and Comprehensive Income .......................................................... 6(3) Notes to the Quarterly Consolidated Financial Statements ................................................................................... 8(Notes on going concern assumption) ................................................................................................................... 8(Notes in the case of significant changes in shareholders’ equity) .......................................................................... 8(Changes in accounting policy) ............................................................................................................................. 8(Segment information, etc.) .................................................................................................................................. 8
3. Supplementary Information .................................................................................................................................... 10(1) Status of Production, Orders Received, and Sales .............................................................................................. 10

1

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the three months under review (from April 1, 2022 to June 30, 2022), the Japanese economy showedsigns of recovery due to the resumption of economic activities, while the outlook remained uncertain due to thedepreciation of the yen caused by a widening gap in interest rates between Japan and the United States and higher
geopolitical risk and the surge in crude oil and raw material prices following Russia’s invasion in Ukraine.
Looking at the world economy, while efforts are underway to keep the economy running while battling the
pandemic, China saw stagnation in consumption and production due to city lockdowns under the zero-COVID
policy. Furthermore, the global situation remains unstable owing to a combination of factors including the crisisin Ukraine, which has disrupted the supply chain, and accelerated inflation caused by the supply-demand
imbalance.
In the shipbuilding and maritime industry, the primary industry in which the Company makes its sales,
although the outlook with regard to demand remains uncertain as a result of the spread of COVID-19, there is acontinuing rush of container shipbuilding. Maintenance demand is also showing improvement partly due theeconomic recovery in the Southeast Asian region after a recession caused by restrictions on social mobility.
Under such a corporate environment, consolidated net sales increased by 20.8% year-on-year to 14,078
million yen. In terms of profit, operating profit increased by 352.5% year-on-year to 436 million yen, ordinary
profit increased by 320.2% year-on-year to 570 million yen, and profit attributable to owners of parent increased
by 136.2% year-on-year to 475 million yen.
Performance by business segment of the Company and the consolidated Group are as follows.
<Internal combustion engines>
1. Marine-use
Net sales increased by 25.4% year-on-year to 12,256 million yen and segment income increased by 43.9%
year-on-year to 1,204 million yen, due to increases in sales of engines and maintenance-related sales and otherfactors.
2. Land-use
Net sales decreased by 18.9% year-on-year to 804 million yen while a segment loss of 286 million yen
was recorded (a segment loss of 285 million yen in the previous corresponding period) due to a decrease insales of engines and other factors.
Consequently, net sales for the segment increased by 21.3% year-on-year to 13,060 million yen, and segment
income increased by 66.5% year-on-year to 918 million yen.
<Other>
1. Industrial machinery-related
In the aluminum wheel division, both net sales and segment income declined due to a decrease in sales
volume.
2. Real estate leasing-related
In real estate leasing-related, net sales increased slightly while segment income decreased.
3. Electricity sales-related
In electricity sales-related, both net sales and segment income increased.
4. Precision parts-related
In precision parts-related, both net sales and segment income increased.
Consequently, net sales for the segment increased by 14.1% year-on-year to 1,018 million yen, and segment
income increased by 25.1% year-on-year to 123 million yen.

2(2) Explanation of Financial Position
In assets as of the end of the first quarter under review, cash and deposits increased by 742 million yen fromthe end of the previous fiscal year to 27,888 million yen. Further, inventories rose by 2,263 million yen from theend of the previous fiscal year. Meanwhile, due to progress made in collection of trade receivables at the end of
the previous fiscal year, notes and accounts receivable - trade, and contract assets decreased by 2,240 million yen
from the end of the previous fiscal year. As a result, total assets increased by 587 million yen from the end of theprevious fiscal year to 89,855 million yen.
In liabilities, notes and accounts payable - trade and electronically recorded obligations - operating in total
increased by 692 million yen from the end of the previous fiscal year. Meanwhile, owing to scheduled payment,
short-term borrowings and long-term borrowings in total decreased by 274 million yen. As a result, total liabilities
increased by 541 million yen from the end of the previous fiscal year to 46,741 million yen.
In net assets, retained earnings were 38,393 million yen, the same level as at the end of the previous fiscal
year, due to the recording of 475 million yen in profit attributable to owners of parent, despite the payment ofcash dividends of 476 million yen. Further, treasury shares decreased by 135 million yen due to a share buy-back.
Meanwhile, foreign currency translation adjustment increased by 155 million yen from the end of the previous
fiscal year. As a result, total net assets increased by 45 million yen from the end of the previous fiscal year to
43,114 million yen. Equity ratio at the end of the three months ended June 30, 2022 decreased by 0.3 points fromthe end of the previous fiscal year to 47.9%.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
As to the consolidated financial results forecast for the fiscal year ending March 31, 2023, no revisions havebeen made to the forecast announced on April 28, 2022.
The forecasts stated herein are based on information available to the Company as of the date of publicationof this document. Actual results may differ from these forecasts due to a wide range of factors that may arise in
the future.

3

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsInventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

As of June 30, 2022

27,14627,88818,336

16,095

12,6851,896(6)60,058

14,9491,976(6)60,903

9,133
5,792
5,084
525
777
21,314
628

9,005
5,584
5,084
709
761
21,144
575

2,707
4,096
474
(10)
7,267
29,20989,268

2,825
3,986
430
(10)
7,232
28,95289,855

(Million yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Accrued expenses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Provision for retirement benefits for directors (and otherofficers)
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
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

As of June 30, 2022

6,777
5,502
4,440
309
869
671
35
5,050
2,474
26,132

6,913
6,058
4,451
266
121
238
11
5,343
3,558
26,963

9,871
271

9,585
246

34

37

7,216
194
2,478
20,06646,199

7,230
195
2,482
19,777
46,741

2,434
2,173
38,393(43)
42,9572,434
2,173
38,393(178)
42,822

295
(7)
97
(313)
72
39
43,06989,268

308
(21)
252
(287)
252
40
43,11489,855

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
For the three months ended June 30(Million yen)
For the three months
ended June 30, 2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Selling expenses
General and administrative expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Outsourcing service income
Reversal of allowance for doubtful accounts
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Miscellaneous losses
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

6

For the three months
ended June 30, 2022

11,656
9,282
2,374

14,078
10,862
3,216

1,724
553
2,277
96

2,174
605
2,779
436

1
26

1
15

25

17

－
10
1
13
78

88
26
0
11
161

21
14
3
39
135

22
－
5
28
570

0
125
125

0
111
111

2
2
259
104
(46)
58
200
(1)
201

1
1
679
104
97
202
477
1
475

Quarterly Consolidated Statements of Comprehensive Income
For the three months ended June 30(Million yen)
For the three months
ended June 30, 2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
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 of parent
Comprehensive income attributable to non-controllinginterests

7

For the three months
ended June 30, 2022
200

477

(13)
－
8
(42)

12
(13)
74
26

39

81

(8)
191

179
657

193

655

(1)

1

(3) Notes to the Quarterly Consolidated Financial Statements(Notes on going concern assumption)
There is no relevant information.
(Notes in the case of significant changes in shareholders’ equity)
For the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)
There is no relevant information.
(Changes in accounting policy)
From the beginning of the first quarter under review, the “Implementation Guidance on Accounting Standard for
Fair Value Measurement” (ASBJ Guidance No. 31, June 17, 2021; hereinafter referred to as the “Fair Value
Measurement Implementation Guidance”) has been applied, and in accordance with the transitional treatments
stipulated in Paragraph 27-2 of the Fair Value Measurement Implementation Guidance, a new accounting policy as
stipulated by the Fair Value Measurement Implementation Guidance shall be applied prospectively. This shall haveno impact on the quarterly consolidated financial statements.
(Segment information, etc.)
1. Information on net sales and profit (loss) by reportable segment
For the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)
Reportable segment
Marine-use
engines

Land-useengines

Other(Notes)*1

Total

Adjustment(Notes)*2

Total(Million yen)Amountrecorded in
Quarterly
Consolidated
Statements ofIncome(Notes)*3

Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers

9,772

991

10,764892

11,656-

11,656

-

-

-

-

-

-

-

Total

9,772

991

10,764892

11,656-

11,656

Segment income (loss)

837

(285)

551

98

650

(553)

96

(Notes)*1 The “Other” category is a business segment that is not included in reportable segments, and includes the industrial
machinery-related business, the real estate leasing-related business, the electricity sales-related business and theprecision parts-related business.
*2 The adjustment for segment income (loss) represents corporate expenses, largely consisting of selling, general andadministrative expenses not attributable to the reportable segments.
*3 Segment income (loss) is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

8For the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)
Reportable segment
Marine-use
engines

Land-useengines

Other(Notes)*1

Total

Adjustment(Notes)*2

Total(Million yen)Amountrecorded in
Quarterly
Consolidated
Statements ofIncome(Notes)*3

Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers

12,256804

13,0601,018

14,078-14,078

-

-

-

-

-

-

-

Total

12,256804

13,0601,018

14,078-14,078Segment income (loss)

1,204

(286)

918

123

1,041

(605)

436

(Notes)*1 The “Other” category is a business segment that is not included in reportable segments, and includes the industrial
machinery-related business, the real estate leasing-related business, the electricity sales-related business and theprecision parts-related business.
*2 The adjustment for segment income (loss) represents corporate expenses, largely consisting of selling, general andadministrative expenses not attributable to the reportable segments.
*3 Segment income (loss) is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

93. Supplementary Information(1) Status of Production, Orders Received, and Sales
For the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)
1) Production
Production by segment for the three months ended June 30, 2022 is as follows:
Segment

VolumeAmount(Million yen)
Year-on-year change

Horsepower%

Internal combustion engines
Marine-use engines
Land-use engines

254,607

12,256

25.4

126

804

(18.9)

-

858

16.9

13,918

21.1

Other
Total
(Notes)*1 Amounts are based on sales prices.
*2 The figures above do not include consumption taxes.

2) Orders received
Orders by segment for the three months ended June 30, 2022 are as follows:
Segment

Orders received
VolumeAmountHorsepower

Order backlogs

Year-on-yearchange%Horsepower(5.0)

1,891,219

13.0

131,565

49.1-

VolumeAmount(Million yen)
Year-on-yearchange%Internal combustion engine
Marine-use engines

322,981Land-use engines

39,512

Other

Total

(Notes)16,871[10,091]
3,067
[732]
1,022
[-]
20,962[10,823](1.0)

47,609[25,185]
7,820
[745]
762
[-]
56,192[25,931]

45.3
21.1
18.0
40.9

*1 Amounts are based on sales prices.
*2 Figures in brackets [ ] indicate export orders received and the balance of export orders outstanding, and are included
in totals.
*3 The figures above do not include consumption taxes.

103) Sales results
Sales by segment for the three months ended June 30, 2022 are as follows:
Segment

VolumeHorsepower

AmountExport ratio%(Million yen)
Year-on-year change%Internal combustion engine
Marine-use engines

254,607

12,25664.5
25.4[7,907]Land-use engines
126804(18.9)
[-]
Other
1,018
14.1
[-]
14,078
Total
56.2
20.8
[7,907](Notes) *1 Figures in brackets [ ] indicate export volume, and are included in totals.
*2 Major export destinations and compositions are as follows:
Asia (74.0%), Europe (15.8%), Latin America (5.3%), North America (4.1%), Others (0.8%)*3 The “Other” segment includes precision parts-related (435 million yen), industrial machinery-related (423 million
yen) and real estate leasing-related (160 million yen).
*4 The figures above do not include consumption taxes.

11