Iseki : Supplementary Information to Consolidated Financial Results (January 1, 2023－March 31, 2023)

Consolidated Financial Results

for the Three Months Ended March 31, 2023

[Japanese GAAP]

											May 15, 2023
Company name: ISEKI&CO., LTD.
Stock exchange listing: Tokyo
Code number: 6310
URL: https://www.iseki.co.jp
Representative: Shiro Tomiyasu					,President and Representative Director
Contact: Yoshikazu Ogusu				,General Manager of Financial Department
Phone: [phone]
Scheduled date of filing quarterly securities report: May 15, 2023
Scheduled date of commencing dividend payments: -
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes
							(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended March 31, 2023 (January 01, 2023 to March 31, 2023)
(1) Consolidated Operating Results			(% indicates changes from the previous corresponding period.)
		Net sales		Operating profit			Ordinary profit	Profit attributable to
					owners of parent
Three months ended		Million yen		%	Million yen		%		Million yen	%	Million yen	%
March 31, 2023		45,885		18.3	1,690		-		1,302	-	713	138.9
March 31, 2022		38,792		(4.2)	(230)		-		72	(96.6)	298	(84.5)

(Note) Comprehensive income:	Three months ended March 31, 2023:
	Three months ended March 31, 2022:

¥	1,102 million	[	209.9%]
¥	355 million	[	(85.6) %]

	Basic earnings		Diluted earnings per
	per share		share
Three months ended		Yen	Yen
March 31, 2023		31.56	31.55
March 31, 2022		13.21	13.20

(2) Consolidated Financial Position

	Total assets	Net assets	Capital adequacy ratio	Net assets per share
As of	Million yen		Million yen	%	Yen
March 31, 2023	219,100		72,759	31.2	3,021.09
December 31, 2022	206,491		72,345	32.9	3,006.74
(Reference) Equity: As of	March 31, 2023:	¥	68,326 million
As of	December 31, 2022:	¥	68,002 million

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2. Dividends

				Annual dividends
	1st	2nd		3rd		Year-end	Total
	quarter-end	quarter-end	quarter-end
	Yen		Yen	Yen		Yen	Yen
Fiscal year ended December 31, 2022	-		-	-		30.00	30.00
Fiscal year ending December 31, 2023	-
Fiscal year ending December 31, 2023			-	-		30.00	30.00
(Forecast)
(Note) Revision to the forecast for dividends announced most recently:	No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2023(January 01, 2023 to December 31, 2023) (% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Basic earnings

owners of parent

per share

Million

Million

Million

yen

%

yen

%

yen

%

Million yen

%

Yen

Full year

176,500

5.9

4,500

27.3

4,000

6.3

2,600

(36.9)

114.97

(Note) Revision to the financial results forecast announced most recently:

No

* Notes:

(1) Changes in significant subsidiaries during the three months ended March 31, 2023

(changes in specified subsidiaries resulting in changes in scope of consolidation):

No

New

-

(Company name:

)

Exclusion:

-

(Company name:

)

(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:

No

1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
2. 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: No
   4. Retrospective restatement: No
3. Total number of issued shares (common shares)
4. 1. Total number of issued shares at the end of the period (including treasury shares):

March 31, 2023:	22,984,993	shares
December 31, 2022:	22,984,993	shares
2) Number of treasury shares at the end of the period:
March 31, 2023:	368,404	shares
December 31, 2022:	368,346	shares

3) Average number of shares outstanding during the period:
Three months ended March 31, 2023:	22,616,612	shares
Three months ended March 31, 2022:	22,612,772	shares

• The total number of treasury shares at the end of the period includes the Company's shares held by the "Board Benefit Trust" (255,800 shares for the three months ended March 31, 2023, 255,800 shares for the period ended December 31, 2022). In addition, the Company's shares held by the "Board Benefit Trust" are included in the number of treasury shares deducted for the calculation of the average number of shares during the period.

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Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

				(Million yen)
			As of December 31,2022	As of March 31,2023
Assets
	Current assets
		Cash and deposits	10,749	9,220
		Notes and accounts receivable - trade, and contract	27,574	38,036
		assets
		Merchandise and finished goods	53,562	57,154
		Work in process	10,335	9,790
		Raw materials and supplies	1,434	1,464
		Other	5,792	6,056
		Allowance for doubtful accounts	(33)	(60)
		Total current assets	109,414	121,664
	Non-current assets
		Property, plant and equipment
		Buildings and structures, net	26,271	25,973
		Land	44,744	44,719
		Other, net	12,902	13,156
		Total property, plant and equipment	83,919	83,850
		Intangible assets	2,309	2,431
		Investments and other assets
		Investment securities	5,686	5,926
		Other	5,816	5,895
		Allowance for doubtful accounts	(654)	(667)
		Total investments and other assets	10,848	11,154
		Total non-current assets	97,076	97,435
	Total assets	206,491	219,100

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						(Million yen)
					As of December 31,2022	As of March 31,2023
Liabilities
	Current liabilities
		Notes and accounts payable - trade		19,457	21,503
		Electronically recorded obligations - operating	26,042	23,621
		Short-term loans payable		26,754	33,910
		Current portion of long-term loans payable	13,537	14,257
		Income taxes payable		588	693
		Provision for bonuses	566	962
		Other		11,241	11,170
		Total current liabilities	98,189	106,119
	Non-current liabilities
		Long-term loans payable	20,811	25,168
		Deferred tax liabilities for land revaluation		4,097	4,097
		Provision for retirement benefits for directors	163	149
		Provision for share awards for directors		18	24
		Retirement benefit liability	3,244	3,248
		Asset retirement obligations		908	909
		Other	6,711	6,624
		Total non-current liabilities		35,956	40,221
	Total liabilities	134,146	146,340
Net assets
	Shareholders' equity
		Share capital		23,344	23,344
		Capital surplus	13,139	13,139
		Retained earnings		21,131	21,158
		Treasury shares	(591)	(591)
		Total shareholders' equity		57,023	57,051
	Accumulated other comprehensive income
		Valuation difference on available-for-sale		482	649
		securities
		Deferred gains or losses on hedges	8	(15)
		Revaluation reserve for land		8,835	8,835
		Foreign currency translation adjustment	1,142	1,328
		Remeasurements of defined benefit plans		510	478
		Total accumulated other comprehensive income		10,978	11,275
	Subscription rights to shares		12	12
	Non-controlling interests	4,330	4,419
	Total net assets		72,345	72,759
Total liabilities and net assets	206,491	219,100

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Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the three months)

			(Million yen)
		For the three months	For the three months
		ended March 31,2022	ended March 31,2023
Net sales	38,792	45,885
Cost of sales	27,985	32,103
Gross profit	10,807	13,782
Selling, general and administrative expenses	11,038	12,091
Operating profit (loss)	(230)	1,690
Non-operating income
	Interest income	36	38
	Dividend income	17	25
	Foreign exchange gains	285	138
	Other	271	206
	Total non-operating income	611	408
Non-operating expenses
	Interest expenses	136	219
	Share of loss of entities accounted for using equity	79	141
	method
	Commission for syndicated loans	31	386
	Other	59	50
	Total non-operating expenses	307	797
Ordinary profit	72	1,302
Extraordinary income
	Gain on sale of non-current assets	12	6
	Other	0	-
	Total extraordinary income	13	6
Extraordinary losses
	Loss on sale and retirement of non-current assets	40	11
	Impairment losses	37	63
	Total extraordinary losses	77	74
Profit before income taxes	8	1,234
Income taxes - current	259	729
Income taxes - deferred	(536)	(229)
Total income taxes	(277)	499
Profit	285	734
Profit (loss) attributable to non-controlling interests	(13)	21
Profit attributable to owners of parent	298	713

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