Consolidated Financial Results
for the Nine Months Ended December 31, 2023
[Japanese GAAP]
January 30, 2024
Company name: Daihatsu Diesel Mfg. Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 6023
URL: https://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, 2024
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, 2023 (April 1, 2023 to December
31, 2023)(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, 2023
57,786 22.3
2,128
86.1
2,264
94.7
2,645
153.0
December 31, 2022
47,246 26.5
1,143
(17.7)
1,162(31.9)
1,045(22.2)(Note) Comprehensive income: Nine months ended December 31, 2023: 2,846 million yen [109.0%]
Nine months ended December 31, 2022: 1,362 million yen [(5.8)%]
Basic earnings per share

Nine months ended
December 31, 2023
December 31, 2022
(2) Consolidated Financial Position
Total assets

Diluted earnings per share
Yen

Yen

83.70
33.12

-

Net assets

Million yen

Equity ratio

Million yen

As of December 31, 2023
97,18647,748
As of March 31, 2023
95,37745,724(Reference) Equity: As of December 31, 2023: 47,699 million yen
As of March 31, 2023: 45,678 million yen

%

49.1
47.9

2. Dividends
Annual dividends
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen
Yen
Yen
Fiscal year ended
March 31, 2023
0.00
Fiscal year ending
0.00
March 31, 2024
Fiscal year ending
March 31, 2024
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

Year-end

Total
Yen

Yen

28.00

28.00

33.00

33.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 toMarch 31, 2024)(% indicates changes from the previous corresponding period.)
Net sales
Million yen

Operating profit%

Million yen%

Profit attributableto owners of parent

Ordinary profit
Million yen%

Full year
78,000
8.2
3,600
(0.0)
3,800
3.8
(Note) Revision to the financial results forecast announced most recently: None

Million yen
3,500

Basic earnings
per share

%
18.7

Yen
109.89* 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: No
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, 2023: 31,850,000 shares
March 31, 2023: 31,850,000 shares2) Total number of treasury shares at the end of the period:
December 31, 2023: 200,335 shares
March 31, 2023: 280,235 shares
3) Average number of shares during the period:
Nine months ended December 31, 2023: 31,609,280 shares
Nine months ended December 31, 2022: 31,574,150 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(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, 2023 to December 31, 2023), the Japanese economy
showed a gradual recovery trend, with domestic demand on a path toward recovery as COVID-19 was reclassified
into “Class 5” and economic activities returned to normal, as well as due in part to improvements in employment
and income conditions, although prices increased markedly due to the weakening trend of the yen and resource
price hikes.
Looking at the world economy, the future outlook remained uncertain due to, for example, a slowdown of
China’s economy caused by a stagnant real estate market, the prolonged situation in Ukraine, and growing
tensions in the Middle East, in addition to worldwide surging prices and ongoing monetary tightening policies.
In the shipbuilding and maritime industry, the primary industry in which the Company makes its sales, since
the Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII; a system for ratingships based on the fuel efficiency) have started, the movement toward promoting capital investment, more
efficient operation, and other factors has become active. Furthermore, visualization of the operation status andengine systems utilizing digital technology has also been growing rapidly due in part to improvements in themarine communication environment.
Under such a corporate environment, the Group has aimed to contribute to net-zero emissions by providing
broader new solutions, primarily in response to next-generation fuels, in order to create social value through theimplementation of our corporate philosophy and realize sustainable growth as a company under the mid- to longterm vision “POWER! FOR ALL beyond 2030.” At the same time, we have been actively working to create anenvironment that encourages each employee to take on independent-minded challenges and maximize theirabilities.
In the nine months under review, the Group’s sales have remained strong for large-sized engines and dual fuelengines mainly for container ships as well as small- and medium-sized engines mainly for bulk carriers andtankers, while there has been a continued solid demand for maintenance.
As a result, consolidated net sales increased by 22.3% year-on-year to 57,786 million yen, operating profit
increased by 86.1% year-on-year to 2,128 million yen, ordinary profit increased by 94.7% year-on-year to 2,264
million yen, and profit attributable to owners of parent increased by 153.0% year-on-year to 2,645 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 26.7% year-on-year to 50,545 million yen and segment income increased by 25.8%
year-on-year to 3,877 million yen, due to increases in sales of engines and maintenance-related sales, an effectof fluctuation of foreign exchange rates, and other factors.
2. Land-use
Net sales increased by 3.0% year-on-year to 4,343 million yen and segment income of 144 million yen
was recorded (a segment loss of 596 million yen in the previous corresponding period) due to increases insales of engines and maintenance-related sales, and other factors.
Consequently, net sales for the segment increased by 24.4% year-on-year to 54,889 million yen, and segment
income increased by 61.8% year-on-year to 4,021 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 decreased slightly while segment income increased slightly.
2

3. Electricity sales-related
In electricity sales-related, net sales decreased while segment income increased.
4. Precision parts-related
In precision parts-related, net sales increased while segment income decreased.
Consequently, net sales for the segment decreased by 7.4% year-on-year to 2,897 million yen, and segment
income decreased by 21.3% year-on-year to 354 million yen.

(2) Explanation of Financial Position
In assets as of the end of the third quarter under review, cash and deposits increased by 3,415 million yen
from the end of the previous fiscal year to 30,042 million yen. Further, inventories rose by 3,904 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 3,932
million yen. Also, investment securities decreased by 1,648 million yen. As a result, total assets increased by
1,809 million yen from the end of the previous fiscal year to 97,186 million yen.
In liabilities, notes and accounts payable - trade and electronically recorded obligations - operating in total
increased by 2,046 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 770 million yen. Also, provision forbonuses decreased by 506 million yen, accrued expenses decreased by 279 million yen, and other under current
liabilities decreased by 495 million yen mainly due to a decrease in advances received. As a result, total liabilities
decreased by 215 million yen from the end of previous fiscal year to 49,437 million yen.
In net assets, retained earnings increased by 1,761 million yen from the end of the previous fiscal year to42,627 million yen. As a result, total net assets increased by 2,024 million yen from the end of the previous fiscal
year to 47,748 million yen. Equity ratio at the end of the third quarter under review increased by 1.2 points fromthe end of the previous fiscal year to 49.1%.
(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, 2024, no revisions havebeen made to the forecast announced on October 26, 2023.
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, 2023
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, 2023

26,62730,042

20,883

16,95014,5483,339(8)65,38918,4523,759(8)69,197

8,935
6,843
5,084
188
944
21,996
541

8,732
6,168
5,084
537
996
21,518
468

2,798
4,223
432
(4)
7,449
29,987
95,377

1,149
4,353
501
(2)
6,002
27,98997,186

(Million yen)
As of March 31, 2023
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, 2023

8,179
7,259
4,461
157
526
790
56
5,490
3,665
30,586

9,386
8,098
6,366
100
368
284
51
5,211
3,170
33,037

8,800
183

6,123
128

46

40

7,394
195
2,446
19,06649,652

7,458
196
2,451
16,39949,4372,434
2,175
40,865(130)
45,3442,434
2,199
42,627(93)
47,168

344
(27)
284
(267)
333
45
45,724
95,377

447
35
177
(129)
531
49
47,74897,186

(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, 2022
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
methodOutsourcing 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
Gain on sale of investment securities
National subsidies
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, 2023

47,24637,8699,376

57,786
47,13010,656

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

6,280
2,247
8,527
2,128

9
28

27
37

46

40

39
0
46
171

35
0
87
227

65
49
36
152
1,162

59
7
25
92
2,264

2
264
266

3
1,012
58
1,074

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

10
10
3,327
954
(276)
678
2,649
3
2,645

Quarterly Consolidated Statements of Comprehensive Income
For the nine months ended December 31(Million yen)
For the nine months
ended December 31, 2022

For the nine months
ended December 31, 2023

1,050

2,649

30
30
24
69

102
70
29
138

157

(143)

311
1,362

197
2,846

1,357

2,843

4

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) 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, 2023 (from April 1, 2023 to December 31, 2023)
There is no relevant information.
(Segment information, etc.)
1. Information on net sales and profit (loss) by reportable segment
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.

8For the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)
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)50,545

4,343

54,8892,897

57,786-57,786

-

-

-

-

-

-

-

50,545

4,343

54,8892,897

57,786-57,786

3,877

144

4,021

354

4,376

(2,247)2,128*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.

93. Supplementary Information(1) Status of Production, Orders Received, and Sales
For the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)
1) Production
Production by segment for the nine months ended December 31, 2023 is as follows:(Million yen)Segment

VolumeAmountYear-on-year change

Horsepower%

Internal combustion engines
Marine-use engines

1,009,203

50,545

26.7

Land-use engines

35,617

4,343

3.0

-

2,428

(8.5)

57,317

22.5

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, 2023 are as follows:(Million yen)Orders received
Segment

VolumeAmountHorsepower

Order backlogs
Year-on-yearchange%Horsepower(13.6)

1,713,084

5.1

109,282(21.4)-

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

784,763

Land-use engines

57,868

Other

Total

(Notes)48,885[29,668]
8,513
[118]
2,354
[-]
59,753[29,786](11.7)

56,598[29,845]
9,465
[745]
788
[-]
66,852[30,591](5.2)
0.3(16.1)(4.6)*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, 2023 are as follows:
Segment

VolumeHorsepower

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

1,009,203

50,54561.1
26.7[30,902]
Land-use engines
35,617
4,343
3.6
3.0
[156]
Other
2,897
(7.4)
[-]
57,786
Total
53.7
22.3
[31,059](Notes) *1 Figures in brackets [ ] indicate export volume, and are included in totals.
*2 Major export destinations and compositions are as follows:
Asia (74.7%), Europe (16.9%), Latin America (4.8%), North America (2.6%), Others (1.0%)*3 The “Other” segment includes precision parts-related (1,426 million yen), industrial machinery-related (1,001 million
yen) and real estate leasing-related (468 million yen).
*4 The figures above do not include consumption taxes.

11