Gunze : Consolidated Financial Statements – Summary

May 12, 2023

Consolidated Financial Statements - Summary

(Year ended March 31, 2023)

This document is an English translation of the Japanese-language original. All financial information has been prepared in accordance with accounting principles generally accepted in Japan.

Company Name:	GUNZE LIMITED
Securities Code:	3002
Stock Market Listings:	Tokyo
URL:	https://www.gunze.co.jp/
Representative:	Toshiyasu Saguchi, President and Representative Director
Contact:	Junko Nakashima, General Manager, Corporate Communications
Tel:	[phone]

Ordinary General Meeting of Shareholders (Scheduled):	June 23, 2023
Start of Distribution of Dividend (Scheduled):	June 26, 2023
Filing of Securities Report (Yuka shoken hokokusho) (Scheduled):	June 26, 2023
Preparation of Supplementary Materials for the Financial Results:	Yes
Holding of Presentation of Financial Results:	Yes (for institutional investors/analysts)

1. Consolidated Operating Results for FY2022 (April 1, 2022 to March 31, 2023)

(1) Consolidated operating results			(Amounts less than one million yen are omitted)
							(Percentages represent year-over-year changes)
	Net sales				Operating profit		Ordinary profit	Profit attributable to
						owners of parent
	¥ millions	%		¥ millions	%		¥ millions	%			¥ millions	%
FY2022	136,030	9.4		5,812	19.1			6,021	11.5			4,501	53.1
FY2021	124,314	-		4,880	-			5,399	-			2,939	-
Note: Comprehensive	income
FY2022: ¥6,319 million [89.6%]				FY2021: ¥3,332 million [(60.0)%]
	EPS			Diluted EPS	Return on		Ordinary profit		Operating
					profit to net
			equity		to total assets
									sales
	¥			¥	%				%				%
FY2022	261.38			260.75	3.9				3.7				4.3
FY2021	168.93			168.43	2.6				3.4				3.9
Reference: Equity in	income of affiliated	companies:	FY2022: -			FY2021: -

Note: GUNZE has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and other related standards. Accordingly, year-over-year increases/decreases (%) of the figures for the fiscal year ended March 31, 2022 are not provided.

(2) Consolidated financial position

	Total assets		Net assets	Equity ratio	Net assets per share
	¥ millions		¥ millions	%	¥
FY2022	165,927		117,691	69.8	6,789.78
FY2021	158,216		114,790	71.4	6,535.42
Reference: Total equity
As of March 31, 2023: ¥115,757 million	As of March 31, 2022: ¥112,903 million

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents
	operating activities	investing activities	financing activities
	at end of period
	¥ millions	¥ millions	¥ millions	¥ millions
FY2022	1,794	(5,920)	1,007	11,547
FY2021	9,155	6,806	(12,358)	14,469

2. Dividends

		Annual dividends per share (¥)
	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end
FY2021	−	−	−	140.00
FY2022	−	−	−	147.00
FY2023 (projected)	−	−	−	150.00

Total

140.00

147.00

150.00

	Total cash	Payout ratio	Dividends to net
	dividends paid	(consolidated)	assets (consolidated)
	¥ millions	%	%
FY2021	2,418	82.9	2.2
FY2022	2,505	56.2	2.2
FY2023 (projected)		53.3

3. Projected Results for FY2023 (April 1, 2023 to March 31, 2024)

	Net sales		Operating profit	Ordinary profit
	¥ millions	%	¥ millions	%	¥ millions	%
FY2023 full year	140,000	2.9	7,500	29.0	7,500	24.6
	Profit		EPS
	¥ millions	%	¥
FY2023 full year	4,800	6.6	281.54

(Percentages represent year-over-yearchanges.)

Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries during the period accompanied by changes in the scope of consolidation): No
2. Changes in accounting policies, changes in accounting estimates, and restatement after error corrections
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: No
   2. Changes in accounting policies other than (a) above: No
   3. Changes in accounting estimates: No
   4. Restatement after error corrections: No
4. Number of shares issued and outstanding (common stock)
5. 1. Number of shares at the end of period (including treasury stock):

FY2022: 17,293,516 shares

FY2021: 18,293,516 shares

1. Treasury stock at the end of period: FY2022: 244,692 shares FY2021: 1,017,897 shares
2. Average number of shares during the period: FY2022: 17,220,646 shares
   FY2021: 17,400,635 shares

(Reference) Summary of Non-consolidated Results

Non-consolidated Operating Results for FY2022 (Apr. 1, 2022 to Mar. 31, 2023)

(1) Non-consolidated Operating Results

	Net sales		Operating profit		Ordinary profit	Profit
	¥ millions	%	¥ millions	%		¥ millions	%	¥ millions	%
FY2022	98,192	8.9	1,899	1,920.2		7,508	152.5	5,725	237.0
FY2021	90,134	-	94	-		2,974	-	1,699	-
	EPS				Diluted EPS
	¥				¥
FY2022	332.45				331.66
FY2021	97.69				97.40

Note: GUNZE has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) and other related standards. Accordingly, year-over-year increases/decreases (%) of the figures for the fiscal year ended March 31, 2022 are not provided.

(2) Non-consolidated Financial Position

		Total assets	Net assets	Equity ratio	Net assets per
		share
		¥ millions	¥ millions	%	¥
FY2022		140,192	109,620	78.1	6,422.46
FY2021		134,257	106,315	79.1	6,146.48
Reference: Total equity
FY2022: ¥109,495 million	FY2021: ¥106,184 million

• This summary of consolidated results is exempt from the audit procedures by certified public accountants or an audit corporation.
• Notes regarding the proper use of projections of the results and other matters
  Projections of results and future developments are based on information available to the Company at the current time, as well as certain assumptions judged by the Company to be reasonable. Various factors could cause actual results to differ materially from these projections. For the assumptions that form the basis of the projected results and notes regarding the use of projections, see (4) "Outlook for FY2023" of "1. Results of Operations" on page 5 of attached materials.

(Attachment)
Table of Contents
1. Results of Operations	2
(1) Analysis of Full-Year Results	2
(2) Analysis of Financial Position	3
(3)	Summary of Cash Flows for FY2022	3
(4)	Outlook for FY2023	5
(5)	Basic Policy on Distribution of Profits and Dividends for FY2022 and FY2023	6
2. Basic Policy for Selection of Accounting Standards	6
3. Consolidated Financial Statements and Primary Notes	7
(1)	Consolidated Balance Sheets	7
(2)	Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	..... 9
(3)	Consolidated Statements of Changes in Shareholders' Equity, etc. ............................................... 11
(4)	Consolidated Statements of Cash Flows	15
(5)	Notes to Consolidated Financial Statements	17
	(Notes Regarding Assumptions of Continuing Operations)	17
	(Segment Information, etc.)	17
	(Per Share Information)	23
	(Significant Subsequent Events)	24
4. Supplementary Information	25

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