Aida Engineering : Consolidated Financial Results for the 3rd Quarter of the FY Ended March 31, 2023

(For reference purposes only)

Consolidated Financial Results for the 3rd Quarter

of the Fiscal Year Ending March 31, 2023 [Japanese Standard]

February 14, 2023

Stock exchange: Tokyo

Listed company name: AIDA ENGINEERING, LTD.
Stock code:	6118 (URL https://www.aida.co.jp/en/)
Representative:	Kimikazu Aida, Chairman & President (CEO)
Contact:	Hiromitsu Ugawa, Director, Managing Executive Officer, Division Manager, General Administration Headquarters	Tel: [phone]
Scheduled date of filing quarterly securities report:	February 14, 2023
Scheduled beginning date of dividend payment:	－
Preparation of supplemental explanatory materials:	Yes
Holding of quarterly financial results briefing:	None

(Figures are rounded down to the nearest million yen)

1. Consolidated Results for 3rd Quarter of the Fiscal Year Ending March 31, 2023 (April 1, 2022 to December 31, 2022)

(1) Consolidated Financial Results

（Percentages represent change compared to the previous period)

				Net sales			Operating income				Ordinary income		Net income
										attributable to
																							owners of parent
	Nine months ended		Millions of yen	%			Millions of yen	%		Millions of yen	%		Millions of yen		%
		48,135	9.1					994		(29.0)			1,152	(24.4)	774		(9.9)
	December 31, 2022
	Nine months ended		44,102	12.4					1,399		(42.5)			1,525	(37.6)	859		(30.0)
	December 31, 2021
	Note: Comprehensive	income:Nine	months	ended December	31, 2022		179 million yen (-91.5%)
				Nine months ended December 31, 2021	2,105 million yen (-36.5%)
			Net income per		Diluted net income
				share						per share
	Nine months ended						Yen								Yen
						12.97					12.95
	December 31, 2022
	Nine months ended						14.40					14.37
	December 31, 2021
(2) Consolidated Financial Position
						Total assets				Net assets				Shareholders'		Net assets per share
												equity ratio
							Millions of yen		Millions of yen		%					Yen
	As of December 31, 2022				115,011				76,745			66.6				1,283.79
	As of March 31, 2022					113,933				78,664			68.4				1,304.89
	Reference: Shareholders' equity	As of December 31, 2022	76,653 million yen
							As of March 31, 2022			77,901 million yen
2. Cash Dividends
												Cash dividends per share
						1Q End			2Q End		3Q End		Year-end	Total
							Yen				Yen			Yen		Yen			Yen
	Year ended March 31, 2022		-				-				-		25.00		25.00
	Year ending March 31, 2023		-				-				-
	Year ending March 31, 2023																30.00		30.00
	(forecast)
	Note:Revision of dividend forecast for this	period: None

3. Forecasts of Consolidated Results for the Fiscal Year Ending March 31, 2023 (April 1, 2022 to March 31, 2023) (Percentages represent change compared to the previous period)

									Net income	Net income
	Net sales		Operating income	Ordinary income	attributable to
		per share
									owners of parent
	Millions of yen		%	Millions of yen		%	Millions of yen	%	Millions of yen	%	Yen
Full year	70,000		12.1	2,600		3.8	2,700	11.0	1,900	111.9	31.82
Note:Revision	of forecasts	of consolidated results: Yes

4. Others

1. Changes in significant subsidiaries during the period: None
2. Application of special accounting treatment used in preparation of the quarterly consolidated financial statements: Yes
   Note: This refers to whether these above were used for preparing quarterly consolidated financial statements.
3. Changes in accounting policies, changes in accounting estimates and retrospective restatement
4. 1. Changes in accounting policies due to revisions of accounting standards: Yes
   2. Changes in accounting policies other than "1": None
   3. Changes in accounting estimates: None
   4. Retrospective restatement: None
5. Number of issued shares (common shares)
   1. Total number of issued shares at the end of the period (including treasury shares)

As of December 31, 2022	69,448,421 shares
As of March 31, 2022	69,448,421 shares
2. Total number of treasury shares at the end of the period
As of December 31, 2022	9,739,117 shares
As of March 31, 2022	9,748,838 shares
3. Average number of shares outstanding during the period
Nine months ended December 31, 2022	59,701,107 shares
Nine months ended December 31, 2021	59,695,129 shares

Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.

Statement for proper use of business forecast and other special remarks:

The above forecasts and those presented in appended material are based on the information presently available. Actual results may differ from these forecasts due to changes in various factors.

2. Consolidated Financial Statements

(1) Consolidated Balance Sheets

					(Millions of Yen)
		As of March 31, 2022		As of December 31, 2022
Assets
Current assets
Cash and deposits		35,031	29,811
Notes and accounts receivable - trade, and contract	17,690	19,182
assets
Electronically recorded monetary claims - operating		1,087	1,236
Finished goods			4,135			4,522
Work in process			13,019			17,429
Raw materials and supplies		4,420	4,702
Other			3,358			4,379
Allowance for doubtful accounts		(1,040)	(975)
Total current assets			77,703			80,288
Non-current assets
Property, plant and equipment
Buildings and structures		25,709	26,545
Accumulated depreciation		(18,481)	(19,031)
Buildings and structures, net		7,227	7,514
Machinery, equipment and vehicles			18,849			20,064
Accumulated depreciation		(13,822)	(14,805)
Machinery, equipment and vehicles, net		5,027	5,259
Land		7,263	7,286
Construction in progress		1,437	891
Other		3,925	4,153
Accumulated depreciation			(3,418)			(3,600)
Other, net		506	552
Total property, plant and equipment		21,462	21,503
Intangible assets		1,179	1,789
Investments and other assets
Investment securities		10,469	8,242
Insurance funds			1,891			1,872
Retirement benefit asset		820	845
Deferred tax assets		285	278
Other			153			223
Allowance for doubtful accounts			(32)			(32)
Total investments and other assets		13,588	11,429
Total non-current assets			36,230			34,722
Total assets		113,933	115,011

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							(Millions of Yen)
			As of March 31, 2022		As of December 31, 2022
Liabilities
Current liabilities
Accounts payable - trade	6,137	6,358
Electronically recorded obligations - operating				2,888				3,319
Short-term borrowings					1,094				565
Accounts payable - other	1,612	1,216
Income taxes payable					175				255
Contract liabilities	12,091	15,794
Provision for product warranties	497	560
Provision for bonuses	1,020	595
Provision for bonuses for directors (and other				22			8
officers)
Provision for loss on orders received	211	196
Other					2,398				2,634
Total current liabilities			28,150	31,507
Non-current liabilities
Long-term borrowings	1,500	1,500
Long-term accounts payable - other	924		1,018
Provision for share awards	510	629
Retirement benefit liability					1,456				1,442
Asset retirement obligations	9	9
Deferred tax liabilities	2,336	1,862
Other		380	296
Total non-current liabilities	7,119	6,758
Total liabilities			35,269	38,265
Net assets
Shareholders' equity
Share capital	7,831	7,831
Capital surplus	12,836	13,007
Retained earnings	55,511	54,684
Treasury shares		(5,250)	(5,247)
Total shareholders' equity	70,927	70,274
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	4,815		3,320
Deferred gains or losses on hedges	(295)	(235)
Foreign currency translation adjustment					2,365				3,255
Remeasurements of defined benefit plans		87	38
Total accumulated other comprehensive income	6,973	6,379
Share acquisition rights			91	91
Non-controlling interests	671				-
Total net assets			78,664	76,745
Total liabilities and net assets					113,933				115,011

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1. Consolidated Statements of Income and Comprehensive Income Consolidated Statements of Income

				(Millions of Yen)
			Nine months ended	Nine months ended
			December 31, 2021	December 31, 2022
Net sales	44,102	48,135
Cost of sales		36,402	40,238
Gross profit	7,699	7,897
Selling, general and administrative expenses			6,300	6,902
Operating income			1,399	994
Non-operating income
Interest income			29	52
Dividend income	163	230
Other	61	60
Total non-operating income			254	344
Non-operating expenses
Interest expenses	17	13
Foreign exchange losses	73	92
Commission expenses			-	58
Other	38	21
Total non-operating expenses			129	185
Ordinary income			1,525	1,152
Extraordinary income
Gain on sale of non-current assets			12	3
Subsidy income related to suspension or decrease of	22	8
production
Gain on sale of investment securities			-	146
Total extraordinary income			34	158
Extraordinary losses
Loss on sale of non-current assets			-	1
Loss on retirement of non-current assets			55	8
Loss on suspension or decrease of production	106	6
Total extraordinary losses			162	16
Income before income taxes			1,397	1,294
Income taxes	548	520
Net income			849	774
Net income attributable to non-controlling interests			(10)	-
Net income attributable to owners of parent			859	774

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