Consolidated Financial Results
for the Nine Months Ended December 31, 2022
[Japanese GAAP]
January 31, 2023
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: February 13, 2023
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 Nine Months Ended December 31, 2022 (April 1, 2022 to December
31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Nine months ended
Million yen%
Million yen%
Million yen%
Million yen%
December 31, 2022
47,246 26.5
1,143
(17.7)
1,162(31.9)
1,045(22.2)
December 31, 2021
37,357
(2.9)
1,389
971.0
1,707
883.7
1,344
(Note) Comprehensive income: Nine months ended December 31, 2022: 1,362 million yen [(5.8)%]
Nine months ended December 31, 2021: 1,446 million yen [-%]
Basic earnings per share

Nine months ended
December 31, 2022
December 31, 2021
(2) Consolidated Financial Position
Total assets

Diluted earnings per share
Yen

Yen

33.12
42.35

-

Net assets

Million yen

Equity ratio

Million yen

As of December 31, 2022
92,212
43,870
As of March 31, 2022
89,26843,069(Reference) Equity: As of December 31, 2022: 43,826 million yen
As of March 31, 2022: 43,030 million yen

%

47.5
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):December 31, 2022: 31,850,000 shares
March 31, 2022: 31,850,000 shares2) Total number of treasury shares at the end of the period:
December 31, 2022: 280,235 shares
March 31, 2022: 93,335 shares
3) Average number of shares during the period:
Nine months ended December 31, 2022: 31,574,150 shares
Nine months ended December 31, 2021: 31,732,860 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 nine months under review (from April 1, 2022 to December 31, 2022), the Japanese economy
showed signs of recovery mainly in consumer spending due to the gradual relaxation of restrictions on economic
activities caused by COVID-19. However, the economic environment remained unpredictable due in part to the
sharp depreciation of the yen and the increasing upward pressure on prices since the beginning of the period.
Looking at the world economy, the outlook remained unclear due to, for example, accelerated inflation invarious countries on the backdrop of higher resource prices associated with the prolonged situation in Ukraine,in addition to the slowdown in economic growth caused by China’s zero-COVID policy, etc.
In the shipbuilding and maritime industry, the primary industry in which the Company makes its sales, theEnergy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII; a system for rating ships
based on the fuel efficiency) have started in January 2023, and compliance with increasingly tightened
environmental regulations aimed at realization of a carbon-neutral society has become a major challenge. In
addition, it has become essential to use digital technologies that support safe navigation amid the situation where
there is always a shortage of crew members.
Under such a corporate environment, the Group formulated the mid- to long-term vision “POWER! FOR ALL
beyond 2030” based on its reason for existence. Aiming to realize both accelerated creation of social value
through the implementation of our corporate philosophy and sustainable growth as a company, we are making
all-out efforts toward the achievement of net zero emissions in 2050 while accelerating servitization as a power
supply company that leads to the future.
In the nine months under review, consolidated net sales increased by 26.5% year-on-year to 47,246 million
yen due to changes in the model composition and the weakening trend of the yen. In terms of profit, operating
profit decreased by 17.7% year-on-year to 1,143 million yen, ordinary profit decreased by 31.9% year-on-year
to 1,162 million yen, and profit attributable to owners of parent decreased by 22.2% year-on-year to 1,045 million
yen, due in part to the intensified price competition and surging raw material costs.
Performance by business segment of the Company and the consolidated Group are as follows.
<Internal combustion engines>
1. Marine-use
Net sales increased by 30.5% year-on-year to 39,900 million yen and segment income increased by 16.7%
year-on-year to 3,081 million yen, due to an increase in maintenance-related sales, an effect of fluctuation offoreign exchange rates, and other factors, in addition to an increase in the sales composition ratios of largesized engines and dual fuel engines mainly for container ships.
2. Land-use
Net sales increased by 4.9% year-on-year to 4,218 million yen while a segment loss of 596 million yen
was recorded (a segment income of 32 million yen in the previous corresponding period) due to deteriorationof the profitability of some products and other factors despite an increase in sales of engines.
Consequently, net sales for the segment increased by 27.6% year-on-year to 44,118 million yen, and segment
income decreased by 7.0% year-on-year to 2,484 million yen.
<Other>
1. Industrial machinery-related
In the aluminum wheel division, net sales increased while segment income declined due to a change in thesales composition.
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 12.8% year-on-year to 3,127 million yen, and segment
income increased by 22.0% year-on-year to 450 million yen.

(2) Explanation of Financial Position
In assets as of the end of the third quarter under review, cash and deposits increased by 1,753 million yen
from the end of the previous fiscal year to 28,899 million yen. Further, inventories rose by 5,323 million yen
from the end of the previous fiscal year while other current assets rose by 1,347 million yen due mainly to anincrease in consumption taxes refund receivable. Meanwhile, due to progress made in collection of tradereceivables at the end of the previous fiscal year, notes and accounts receivable - trade, and contract assets
decreased by 5,810 million yen from the end of the previous fiscal year. As a result, total assets increased by
2,944 million yen to 92,212 million yen.
In liabilities, notes and accounts payable - trade and electronically recorded obligations - operating in total
increased by 2,876 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 759 million yen. As a result, total liabilities
increased by 2,143 million yen to 48,342 million yen.
In net assets, retained earnings increased by 569 million yen from the end of the previous fiscal year due tothe recording of 1,045 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 801 million yen to 43,870 million yen. Equity ratioat the end of the third quarter under review decreased by 0.7 points from the end of the previous fiscal year to
47.5%.
(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 December 31, 2022

27,14628,89918,336

12,525

12,6851,896(6)60,05818,0083,244(7)62,670

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

8,868
5,884
5,084
862
749
21,449
524

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

2,844
4,302
432
(10)
7,568
29,542
92,212

(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 December 31, 2022

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

8,087
7,068
4,461
186
171
242
34
5,806
2,969
29,028

9,871
271

9,090
213

34

43

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

7,307
195
2,463
19,314
48,3422,434
2,173
38,393(43)
42,9572,434
2,175
38,963(130)
43,442

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

326
23
278
(244)
383
43
43,87092,212

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
For the nine months ended December 31(Million yen)
For the nine months
ended December 31, 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 attributable to non-controlling interests
Profit attributable to owners of parent

6

For the nine months
ended December 31, 2022

37,357
29,072
8,285

47,24637,869
9,376

5,242
1,652
6,895
1,389

6,441
1,791
8,232
1,143

4
37

9
28

20

46

11
198
2
115
391

－
39
0
46
171

64
－
8
73
1,707

65
49
36
152
1,162

1
152
153

2
264
266

4
4
1,857
498
14
512
1,344
0
1,344

47
47
1,382
593
(261)
331
1,050
4
1,045

Quarterly Consolidated Statements of Comprehensive Income
For the nine months ended December 31(Million yen)
For the nine months
ended December 31, 2021

For the nine months
ended December 31, 2022

1,344

1,050

13
－
36
12

30
30
24
69

39

157

101
1,446

311
1,362

1,445

1,357

0

4

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) 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 nine months ended December 31, 2022 (from April 1, 2022 to December 31, 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 nine months ended December 31, 2021 (from April 1, 2021 to December 31, 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
Total
Segment income(Notes)30,565

4,019

34,5852,772

37,357-37,357

-

-

-

-

-

-

-

30,565

4,019

34,5852,772

37,357-37,357

2,640

32

2,672

369

3,042

(1,652)

1,389*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 represents corporate expenses, largely consisting of selling, general andadministrative expenses not attributable to the reportable segments.
*3 Segment income is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

8For the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 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

39,9004,218

44,1183,127

47,246-47,246

-

-

-

-

-

-

-

Total

39,9004,218

44,1183,127

47,246-47,246

Segment income (loss)

3,081

(596)

2,484

450

2,935

(1,791)

1,143(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 nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)
1) Production
Production by segment for the nine months ended December 31, 2022 is as follows:(Million yen)Segment

VolumeAmountYear-on-year change

Horsepower%

Internal combustion engines
Marine-use engines

868,560

39,90030.5

Land-use engines

20,648

4,218

4.9

-

2,653

15.3

46,771

26.8

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 nine months ended December 31, 2022 are as follows:(Million yen)Orders received
Segment

VolumeAmountHorsepower

Order backlogs
Year-on-yearchange%Horsepower

26.3

2,068,861

0.1

130,92137.8-

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

1,114,576

Land-use engines

59,390

Other

Total

(Notes)56,589[34,648]
8,101
[912]
2,996
[-]
67,686[35,561]

22.9

59,682[31,099]
9,440
[745]
940
[-]
70,063[31,845]

52.9
7.2
70.4
44.8

*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 nine months ended December 31, 2022 are as follows:
Segment

VolumeHorsepower

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

868,560

39,90066.5
30.5[26,550]
Land-use engines
20,648
4,218
4.3
4.9
[180]
Other
3,127
12.8
[-]
47,246
Total
56.6
26.5
[26,731](Notes) *1 Figures in brackets [ ] indicate export volume, and are included in totals.
*2 Major export destinations and compositions are as follows:
Asia (74.3%), Europe (17.4%), Latin America (4.9%), North America (2.7%), Others (0.7%)*3 The “Other” segment includes precision parts-related (1,219 million yen), industrial machinery-related (1,433 million
yen) and real estate leasing-related (474 million yen).
*4 The figures above do not include consumption taxes.

11