Consolidated Financial Results
for the Six Months Ended September 30, 2022
[Japanese GAAP]
October 27, 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: November 11, 2022
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Available
Schedule of quarterly financial results briefing session: Scheduled (for institutional investors and securities analysts)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2022 (April 1, 2022 to September
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
Six months ended
Million yen%
Million yen%
Million yen%
Million yen%
September 30, 2022
31,584 35.2
667 106.0
832
35.0
756
26.2
September 30, 2021
23,361
(7.0)
323
616
599
(Note) Comprehensive income: Six months ended September 30, 2022: 1,059 million yen [56.2%]
Six months ended September 30, 2021: 678 million yen [-%]
Basic earnings per share

Six months ended
September 30, 2022
September 30, 2021
(2) Consolidated Financial Position
Total assets

Diluted earnings per share
Yen

Yen

23.94
18.88

-

Net assets

Million yen

Equity ratio

Million yen

As of September 30, 2022
91,18443,567
As of March 31, 2022
89,26843,069(Reference) Equity: As of September 30, 2022: 43,525 million yen
As of March 31, 2022: 43,030 million yen

%

47.7
48.2

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
0.00
March 31, 2023
Fiscal year ending
March 31, 2023
(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%

Full year
71,000 23.3
3,000
43.4
3,200
27.6
(Note) Revision to the financial results forecast announced most recently: None

Profit attributableto owners of parent
Million yen
2,500

Basic earnings
per share

%
27.0

Yen
78.49

* 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):
September 30, 2022: 31,850,000 shares
March 31, 2022: 31,850,000 shares2) Total number of treasury shares at the end of the period:
September 30, 2022: 280,235 shares
March 31, 2022: 93,335 shares
3) Average number of shares during the period:
Six months ended September 30, 2022: 31,576,354 shares
Six months ended September 30, 2021: 31,720,893 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.
(How to obtain supplementary briefing material on annual financial results and information on the briefing
session)A briefing session for institutional investors and analysts is scheduled to be held on Thursday, November 10,
2022.
The briefing materials will be posted on the Company’s website after the session.

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) Quarterly Consolidated Statements of Cash Flows ........................................................................................... 8(4) Notes to the Quarterly Consolidated Financial Statements ............................................................................... 9(Notes on going concern assumption) ................................................................................................................ 9(Notes in the case of significant changes in shareholders’ equity) ..................................................................... 9(Changes in accounting policy) .......................................................................................................................... 9(Segment information, etc.) ................................................................................................................................ 9
3. Supplementary Information .................................................................................................................................. 11(1) Status of Production, Orders Received, and Sales .......................................................................................... 111

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the six months under review (from April 1, 2022 to September 30, 2022), the Japanese economy
showed signs of recovery mainly in consumer spending due to the mitigation of effects of the novel coronavirus(COVID-19) despite having an impact of price increases. However, the situation has been harsh due to asignificant trend of strong dollars caused by the rise in the policy interest rate in the United States, price increases
and difficulty in procurement of materials, semiconductors, etc.
Looking at the world economy, the prolonged situation in Ukraine caused the surge in crude oil and raw
material prices, while the lockdown of main cities under China’s zero-COVID policy has had an impact andinflation is accelerating mainly in Europe and the United States, resulting in slower economic growth. IMF’s
World Economic Outlook says that the world’s inflation is expected to increase from 4.7% in 2021 to 8.8% in
2022, and that the world economic growth is expected to slow down from 6.0% in 2021 to 3.2% in 2022 and2.7% in 2023, concluding that this will be the weakest growth profile since 2001 except for during the global
financial crisis and COVID-19 pandemic.
In the shipbuilding and maritime industry, the primary industry in which the Company makes its sales,
although the orders received have not reached the level of 2021 with significantly increasing number of new
shipbuilding orders received mainly for container ships, the orders received in fiscal 2022 have remained steadymainly for container ships and bulk carriers, and market conditions are expected to continue in the second halfof the fiscal year. In addition, disruptions in the marine transport network are being reduced, and maintenancedemand is also showing recovery mainly in Southeast Asia after a recession caused by restrictions on social
mobility.
Under such a corporate environment, the Group had sales growth of large-scale engines for container ships,
and has seen the recovery of maintenance demand mainly overseas to the pre-pandemic level. As a result,consolidated net sales increased by 35.2% year-on-year to 31,584 million yen. In terms of profit, operating profit
increased by 106.0% year-on-year to 667 million yen, ordinary profit increased by 35.0% year-on-year to 832
million yen, and profit attributable to owners of parent increased by 26.2% year-on-year to 756 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 38.8% year-on-year to 26,761 million yen and segment income increased by 46.3%
year-on-year to 2,147 million yen, due to increases in sales of engines and maintenance-related sales, effectof fluctuation of foreign exchange rates and other factors.
2. Land-use
Net sales increased by 17.2% year-on-year to 2,738 million yen while a segment loss of 527 million yen
was recorded (a segment loss of 250 million yen in the previous corresponding period) due to some productswith low profitability and other factors despite an increase in sales of engines.
Consequently, net sales for the segment increased by 36.5% year-on-year to 29,500 million yen, and segment
income increased by 33.0% year-on-year to 1,619 million yen.
<Other>
1. Industrial machinery-related
In the aluminum wheel division, net sales increased while segment income declined due to the surge inraw material prices and other factors despite an increase 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.
2

4. Precision parts-related
In precision parts-related, both net sales and segment income increased.
Consequently, net sales for the segment increased by 19.6% year-on-year to 2,084 million yen, and segment
income increased by 9.9% year-on-year to 249 million yen.

(2) Explanation of Financial Position
In assets as of the end of the second quarter under review, cash and deposits increased by 2,179 million yen
from the end of the previous fiscal year to 29,325 million yen. Further, inventories rose by 2,901 million yen
from the end of the previous fiscal year. Meanwhile, due to progress made in collection of trade receivables atthe end of the previous fiscal year, notes and accounts receivable - trade, and contract assets decreased by 3,354
million yen from the end of the previous fiscal year. In addition, property, plant and equipment decreased by 52
million yen due to a decrease of 1,196 million yen by depreciation which offset new purchases of 1,182 million
yen. As a result, total assets increased by 1,916 million yen from the end of the previous fiscal year to 91,184
million yen.
In liabilities, notes and accounts payable - trade and electronically recorded obligations - operating in total
increased by 1,302 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 469 million yen. As a result, total liabilities
increased by 1,417 million yen from the end of the previous fiscal year to 47,616 million yen.
In net assets, retained earnings increased by 279 million yen from the end of the previous fiscal year due tothe recording of 756 million yen in profit attributable to owners of parent, despite the payment of cash dividendsof 476 million yen. As a result, total net assets increased by 498 million yen to 43,567 million yen. Equity ratioat the end of the six months ended September 30, 2022 decreased by 0.5 points from the end of the previous
fiscal year to 47.7%.
(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 October 21, 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 September 30, 2022

27,14629,325

18,336

14,982

12,6851,896(6)60,05815,5871,927(7)61,815

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

8,881
5,380
5,084
1,127
786
21,261
513

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

2,897
4,277
429
(10)
7,594
29,36991,184

(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 September 30, 2022

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

7,328
6,253
4,461
223
310
683
23
5,757
2,996
28,038

9,871
271

9,380
218

34

40

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

7,260
195
2,482
19,57847,6162,434
2,173
38,393(43)
42,9572,434
2,175
38,673(130)
43,152

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

293
(3)
348
(265)
372
42
43,567
91,184

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
For the six months ended September 30(Million yen)
For the six months
ended September 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 six months
ended September 30, 2022

23,361
18,5394,821

31,58425,194
6,390

3,376
1,120
4,497
323

4,520
1,201
5,722
667

3
31

2
20

42

33

－
180
3
83
344

115
28
0
29
229

41
2
6
51
616

44
－
20
64
832

0
125
126

0
264
264

3
3
739
362
(221)
140
598
(0)
599

38
38
1,058
501
(202)
299
759
3
756

Quarterly Consolidated Statements of Comprehensive Income
For the six months ended September 30(Million yen)
For the six months
ended September 30, 2021

For the six months
ended September 30, 2022

598

759

17
－
14
(14)

(2)
4
90
47

62

159

79
678

300
1,059

678

1,056

(0)

3

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-controllinginterests7

(3) Quarterly Consolidated Statements of Cash Flows(Million yen)
For the six months
ended September 30, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors(and other officers)
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Interest and dividend income
Interest expenses
Loss (gain) on sale of property, plant and equipment
Loss on abandonment of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Proceeds from collection of loans receivable
Proceeds from withdrawal of time deposits
Payments into time deposits
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Repayments of finance lease liabilities
Net cash provided by (used in) 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

8

For the six months
ended September 30, 2022

739
1,420
(3)
(40)

1,058
1,373
0
11

19

(12)

99

50

(37)

5

(34)
41
(0)
3
7,526
(3,337)
1,062
505
7,962
34
(41)
(466)
7,488

(23)
44
(0)
38
3,472
(2,900)
1,180
984
5,283
23
(44)
(1,020)
4,242

(401)
2
(22)
0
369
(149)
(201)

(1,040)
0
(24)
－
152
(191)
(1,104)

－
(723)
(37)
(476)
(244)
(1,482)

100
(569)
(135)
(476)
(179)
(1,259)

25

217

5,830
19,50925,3402,095
26,35428,449(4) 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 six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)
There is no relevant information.
(Changes in accounting policy)
From the beginning of the first quarter of this fiscal year, 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 six months ended September 30, 2021 (from April 1, 2021 to September 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

19,283

2,335

21,618

1,742

23,361-

23,361

-

-

-

-

-

-

-

Total

19,283

2,335

21,618

1,742

23,361-

23,361

Segment income (loss)

1,467

(250)

1,217

227

1,444

(1,120)323(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For the six months ended September 30, 2022 (from April 1, 2022 to September 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

26,761

2,738

29,5002,084

31,584-

31,584

-

-

-

-

-

-

-

Total

26,761

2,738

29,5002,084

31,584-

31,584

Segment income (loss)

2,147

(527)

1,619

249

1,869

(1,201)

667(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.

10

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

VolumeAmountYear-on-year change

Horsepower%

Internal combustion engines
Marine-use engines

616,002

26,761

38.8

Land-use engines

17,617

2,738

17.2

-

1,766

23.8

31,266

35.7

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 six months ended September 30, 2022 are as follows:(Million yen)Orders received
Segment

VolumeAmountHorsepower

Order backlogs
Year-on-yearchange%Horsepower

40.7

2,052,512

28.1

122,298

74.4-

VolumeAmountYear-on-yearchange%Internal combustion engine
Marine-use engines

845,669

Land-use engines

47,736

Other

Total

(Notes)41,830[26,778]
6,188
[732]
2,053
[-]
50,072[27,510]40.1

58,062[32,818]
9,007
[745]
885
[-]
67,954[33,563]

64.9
24.6
98.9
58.5

*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.

113) Sales results
Sales by segment for the six months ended September 30, 2022 are as follows:
Segment

VolumeHorsepower

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

616,002

26,761
63.4
38.8[16,963]
Land-use engines
17,617
2,738
17.2
[-]
Other
2,084
19.6
[-]
31,584
Total
53.7
35.2
[16,963](Notes) *1 Figures in brackets [ ] indicate export volume, and are included in totals.
*2 Major export destinations and compositions are as follows:
Asia (74.4%), Europe (16.3%), Latin America (5.4%), North America (3.0%), Others (0.9%)*3 The “Other” segment includes precision parts-related (818 million yen), industrial machinery-related (947 million
yen) and real estate leasing-related (318 million yen).
*4 The figures above do not include consumption taxes.

12