Ishihara Sangyo Kaisha : Summary of Consolidated Financial Statements for 1Q of Fiscal Year Ending March 31, 2023(Japan GAAP)

Summary of Consolidated Financial Statements

for First Quarter of Fiscal Year Ending March 31, 2023(Japan GAAP)

				August 10, 2022
				Listed Exchanges: TSE
Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.
Code:	4028	URL http://www.iskweb.co.jp
Representative:	(Title) Executive Director President	(Name) Hideo Takahashi
Contact:	(Title) Managing Executive Officer	(Name) Yasunobu Kawazoe	Tel [phone]

Scheduled date of securities report submission: August 12, 2022

Scheduled date of dividend payment commencement: -

(Any amount less than one million yen is rounded down to the nearest million yen or nil.)

1. Consolidated Financial Results for First Quarter of Fiscal Year Ended March 31, 2023(April 1,2022 to June 30, 2022)

1. Consolidated Operating Results

(Percentages represent changes from same period in previous year.)

	Net sales		Operating income	Ordinary income	Profit attributable to
		owners of parent
	millions of yen		%	millions of yen	%	millions of yen	%	millions of yen	%
1Q, 2022	33,320		11.9	2,686	22.8	4,416	81.2	3,464	42.3
1Q, 2021	29,783		20.6	2,187	163.4	2,436	309.9	2,435	464.8

(Note) Comprehensive income:	as of June 30, 2022: 4,238million yen (33.3%) , as of June 30, 2021: 3,179million yen (885.4%)
		Net income per share	Net income per share after full dilution
		Yen	Yen
1Q, 2022		86.72	⎯
1Q, 2021		60.94	⎯

(2) Consolidated Financial Position

	Total assets	Net assets	Capital adequacy ratio
	millions of yen	millions of yen	%
1Q, 2022	190,667	94,669	49.7
Year ended March 31, 2022	185,758	91,869	49.5

	(Reference) Equity capital:	as of June 30, 2022: 94,669million yen, as of March 31, 2022: 91,869 million yen
2. Dividends
			Dividends per share
	(Record date)	June 30	September 30	December 31		March 31	Annual
	(Q1-end)	(Q2-end)	(Q3-end)		(Year-end)
		Yen	Yen	Yen		Yen	Yen
	Year ended March 31, 2022	⎯	0.00	⎯		36.00	36.00
	Year ended March 31, 2023	⎯
	Year ending March 31, 2023		0.00	⎯		36.00	36.00
	(Forecast)
	(Note) Modification in the dividend forecast for current quarter: No modification

3. Forecast for Consolidated Results for the Full Year Ending March 31, 2023 (April 1, 2022 - March 31, 2023)

(Percentages represent forecasted changes from the previous year for the full year results, and forecasted changes from the same period in the previous year for the interim results.)

	Net sales		Operating income	Ordinary income	Profit attributable to	Earnings per share
		owners of parent
	millions		%	millions	%	millions	%	millions	%	Yen
	of yen		of yen	of yen	of yen
Interim (First 2Qs)	66,000		17.6	1,900	-61.2	3,300	-31.3	1,300	-68.9	32.53
Full year	129,000		16.3	10,000	-13.5	8,400	-36.7	6,200	-47.0	155.18

(Note) Modification in the dividend forecast for current quarter: Modified

• This is an English translation of Summary originally written in Japanese and disclosed to TSE For official purposes, the Japanese version takes preference over this English translation

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4. Other information

1. Significant changes in subsidiaries during the period
   (changes in specified subsidiaries resulting in the change in consolidation scope): No change
2. Adoption of simplified accounting treatment and special accounting treatment for quarterly consolidated statement: Not adopted
3. Changes in accounting principles, procedures, and the method of presentation

1) Changes due to revisions of accounting standards etc.	: Not adopted
2)	Changes other than those defined in 1) above	: Not adopted
3)	Changes in accounting procedures	: Not adopted
4)	Changes in the method of presentation	: Not adopted

1. Issued shares (common shares)

1. Issued shares as of period-end (including repurchased treasury shares)

As of June 30, 2022:	40,383,943 shares	As of March 31, 2022:	40,383,943 shares
2) Number of shares of treasury stock as of period-end
As of June 30, 2022:	431,011 shares	As of March 31, 2022:	430,740 shares
3) Average number of outstanding shares during period
1Q 2022: 39,953,060 shares	1Q 2021: 39,956,193 shares

*This quarterly financial results release is not subject to certified public accountants or auditing firm.

• Notes on proper use of forecast and other matters
  The forecast of financial results presented in this document is the result of management's assessment based upon currently available assumptions, prospects and plans for the future. Actual results and dividend payments may differ from these forecasts, due to risks and uncertain factors, such as the global economy, competition, and foreign currency fluctuations.

• This is an English translation of Summary originally written in Japanese and disclosed to TSE For official purposes, the Japanese version takes preference over this English translation

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5. Consolidated Financial Statements, and Main Notes

(1) Consolidated Balance Sheet

		(Unit: millions of yen)
Account Category	As of March,2022	As of June 2022
(summary)
ASSETS
Current Assets
Cash and deposits	27,073	26,589
Notes and accounts receivable-trade and contract assets	33,736	42,361
Merchandise and finished goods	32,813	29,070
Work in process	4,633	4,763
Raw materials and supplies	20,051	21,015
Other	4,190	4,158
Allowance for doubtful accounts	-1,109	-1,146
Total current assets	121,389	126,812
Noncurrent Assets
Property, plant and equipment
Machinery, equipment net	20,723	21,278
Others , net	25,812	23,741
Total property , plant and equipment	46,535	45,019
Intangible assets	1,018	1,438
Investments and other assets
Investment securities	7,456	7,660
Deferred tax assets	8,883	8,793
Net defined benefit asset	10	11
Other	550	1,021
Allowance for doubtful accounts	-85	-90
Total investments and other assets	16,815	17,397
Total noncurrent assets	64,369	63,855
Total Assets	185,758	190,667

• This is an English translation of Summary originally written in Japanese and disclosed to TSE For official purposes, the Japanese version takes preference over this English translation

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		(Unit: millions of yen)
Account Category	As of March,2022	As of June 2022
(summary)
LIABILITIES
Current Liabilities
Notes and accounts payable - trade	17,739	20,315
Short-term loans payable	16,068	15,906
Currents portion of bonds	1,118	1,118
Income tax payable	1,242	628
Reserve	1,438	2,121
Other	9,124	10,061
Total current liabilities
46,731	50,151
Noncurrent Liabilities
Bonds payable	3,898	3,793
Long-term loans payable	24,831	23,785
Provision for environment and safety improvement	1,384	1,331
Other provision	83	97
Net defined benefit liability	13,058	12,857
Other	3,901	3,980
Total noncurrent liabilities
47,157	45,846
Total Liabilities
93,889	95,997
NET ASSETS
Shareholder's equity
Capital stock	43,420	43,420
Capital surplus	10,627	10,627
Retained earnings	38,592	40,619
Treasury stock	-734	-735
Total shareholder's equity
91,905	93,931
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	405	342
Foreign currency translation adjustment	-297	517
Remeasurements of defined benefit plans	-143	-122
Total accumulated other comprehensive income
-36	737
Total net assets	91,869	94,669
Total Liabilities and Net Assets	185,758	190,667

• This is an English translation of Summary originally written in Japanese and disclosed to TSE For official purposes, the Japanese version takes preference over this English translation

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(2) Consolidated Statements of Income

		(Unit: millions of yen)
	Q1 2021	Q1 2022
Account Category	(April 1,2021 to	(April 1,2022 to
	June 30,2021)	June 30,2022)
Net sales	29,783	33,320
Cost of sales	22,344	24,364
Gross profit	7,438	8,956
Selling, general and administrative expenses	5,250	6,269
Operating income	2,187	2,686
Non-operating income
Interest income	4	3
Dividends income	136	150
Share of profit of entities accounted for using equity method	―	176
Foreign exchange income
282	1,525
Gain on sales of raw materials	87	54
Other	64	95
Total non-operating income	574	2,006
Non-operating expenses
Interest expenses	138	122
Financial fee	93	99
Share of loss of entities accounted for using equity method	31	―
Other	61	54
Total non-operating expenses	326	276
Ordinary income	2,436	4,416
Extraordinary income
Gain on forgiveness of debts	552	―
Gain on sale of investment securities	11	19
Total extraordinary income	563	19
Extraordinary loss
Loss on disposal of non-current assets	283	234
Total extraordinary loss	283	234
Income before income taxes and minority interests	2,717	4,200
Income taxes	452	597
Income taxes - deferred	-170	138
Total income taxes	282	736
Net income	2,435	3,464
Profit attributable to owners of parent	2,435	3,464

• This is an English translation of Summary originally written in Japanese and disclosed to TSE For official purposes, the Japanese version takes preference over this English translation

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