G Tekt : Summary of Consolidated Financial Results for the Six Months Ended September 30, 2022

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Six Months Ended September 30, 2022 (Based on Japanese GAAP)

																	November 4, 2022
Company name:	G-TEKT CORPORATION
Stock exchange listing:	Tokyo
Stock code:	5970	URL	https://www.g-tekt.jp/
Representative:	President, Chief Executive Officer			Naohiro Takao
Inquiries:	General Manager of Finance Division			Makoto Kimura			TEL	048-646-3400
Scheduled date to file Quarterly Securities Report:				November 11, 2022
Scheduled date to commence dividend payments:				December 5, 2022
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:				Yes	(for institutional investors and analysts)
										(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)
(1) Consolidated operating results (cumulative)									Percentages indicate year-on-year changes
				Net sales			Operating profit		Ordinary profit	Profit attributable to
								owners of parent
			Millions of yen	%	Millions of yen	%		Millions of yen	%	Millions of yen	%
Six months ended September 30, 2022		154,796	47.2		7,200	102.3		9,404	132.5		6,940	116.7
Six months ended September 30, 2021		105,137	15.5		3,560	611.2		4,044	891.5		3,203	-
				Earnings per share		Diluted earnings per share
							Yen					Yen
Six months ended September 30, 2022			161.46					-
Six months ended September 30, 2021			74.59					-
(2) Consolidated financial position
				Total assets				Net assets			Equity ratio
				Millions of yen		Millions of yen				%
As of September 30, 2022			292,563		177,725				56.5
As of March 31, 2022				282,540		163,924				53.9
2. Cash dividends
								Annual dividends per share
			1st quarter-end		2nd quarter-end	3rd quarter-end	Fiscal year-end		Total
				Yen				Yen			Yen			Yen			Yen
Year ended March 31, 2022			-				28.00				-		28.00			56.00
Year ending March 31, 2023			-				29.00
Year ending March 31, 2023 (Forecast)										-		29.00			58.00
3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
												Percentages indicate year-on-year changes
		Net sales		Operating profit	Ordinary profit	Profit attributable to		Earnings per share
			owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen		% Millions of yen	%			Yen
Full year		324,000	37.0	14,100	29.0	16,200	29.3	11,500	29.5			267.46

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4. Notes

1. Changes in significant subsidiaries during the six months ended September 30, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

Yes

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of September 30, 2022	43,931,260	shares	As of March 31, 2022	43,931,260	shares
Number of treasury shares at the end of the period
	As of September 30, 2022	921,176	shares	As of March 31, 2022	959,008	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Six months ended September 30, 2022	42,983,653	shares	Six months ended September 30, 2021	42,943,475	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2022	As of September 30, 2022
Assets
Current assets
Cash and deposits	40,685	41,371
Notes and accounts receivable - trade	51,230	52,112
Finished goods	1,908	2,177
Work in process	29,081	23,757
Raw materials	3,872	5,124
Supplies	1,297	1,426
Other	8,374	10,211
Total current assets	136,450	136,181
Non-current assets
Property, plant and equipment
Buildings and structures, net	57,773	62,893
Machinery, equipment and vehicles, net	38,645	43,620
Tools, furniture and fixtures, net	11,627	13,247
Land	13,342	13,946
Construction in progress	12,677	9,970
Total property, plant and equipment	134,067	143,678
Intangible assets	1,416	1,278
Investments and other assets
Investment securities	8,518	9,176
Other	2,088	2,247
Total investments and other assets	10,606	11,424
Total non-current assets	146,090	156,381
Total assets	282,540	292,563
Liabilities
Current liabilities
Accounts payable - trade	30,394	36,552
Short-term borrowings	22,247	17,715
Current portion of long-term borrowings	12,414	9,846
Accounts payable - other	6,773	6,960
Income taxes payable	1,610	1,171
Provision for bonuses	1,424	2,088
Other	6,301	5,303
Total current liabilities	81,165	79,638
Non-current liabilities
Long-term borrowings	29,019	25,133
Retirement benefit liability	1,048	1,757
Provision for share awards for directors (and other	438	422
officers)
Other	6,943	7,885
Total non-current liabilities	37,450	35,198
Total liabilities	118,615	114,837

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			(Millions of yen)
		As of March 31, 2022	As of September 30, 2022
Net assets
Shareholders' equity
Share capital	4,656	4,656
Capital surplus	23,635	23,635
Retained earnings	103,677	109,402
Treasury shares	(1,707)	(1,649)
Total shareholders' equity	130,261	136,045
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	1,285	968
Deferred gains or losses on hedges	1	(175)
Foreign currency translation adjustment	20,363	28,667
Remeasurements of defined benefit plans	380	(143)
Total accumulated other comprehensive income	22,031	29,317
Non-controlling interests	11,631	12,363
Total net assets	163,924	177,725
Total liabilities and net assets	282,540	292,563

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Six months ended	Six months ended
		September 30, 2021	September 30, 2022
Net sales	105,137	154,796
Cost of sales	95,222	140,013
Gross profit	9,914	14,782
Selling, general and administrative expenses	6,354	7,581
Operating profit	3,560	7,200
Non-operating income
Interest income	140	301
Dividend income	55	77
Foreign exchange gains	159	1,394
Share of profit of entities accounted for using equity method	173	540
Other	225	361
Total non-operating income	754	2,675
Non-operating expenses
Interest expenses	235	456
Other	34	16
Total non-operating expenses	269	472
Ordinary profit	4,044	9,404
Extraordinary income
Gain on sale of non-current assets	33	79
Gain on sale of investment securities	3	27
Total extraordinary income	36	107
Extraordinary losses
Loss related to COVID-19	-	33
Total extraordinary losses	-	33
Profit before income taxes	4,081	9,477
Income taxes	1,114	2,633
Profit	2,967	6,843
Loss attributable to non-controlling interests	(235)	(96)
Profit attributable to owners of parent	3,203	6,940

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