Ishihara Sangyo Kaisha : Summary of Consolidated Financial Statements for 1Q of Fiscal Year Ending March 31, 2024(Japan GAAP)

Summary of Consolidated Financial Statements

for First Quarter of Fiscal Year Ending March 31, 2024(Japan GAAP)

				August 10, 2023
				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 10, 2023

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, 2024(April 1,2023 to June 30, 2023)

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, 2023

37,607

12.9

3,232

20.3

5,803

31.4

4,985

43.9

1Q, 2022

33,320

11.9

2,686

22.8

4,416

81.2

3,464

42.3

(Note) Comprehensive income:

as of June 30, 2023: 5,560million yen (31.2%) , as of June 30, 2022: 4,238million yen (33.3%)

Net income per share

Net income per share after full dilution

Yen

Yen

1Q, 2023

130.70

⎯

1Q, 2022

86.72

⎯

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

millions of yen

millions of yen

%

1Q, 2023

213,874

101,389

47.4

Year ended March 31, 2023

201,913

97,431

48.3

(Reference) Equity capital:

as of June 30, 2023: 101,389million yen, as of March 31, 2023: 97,431 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, 2023

⎯

0.00

⎯

42.00

42.00

Year ended March 31, 2024

⎯

Year ending March 31, 2024

0.00

⎯

50.00

50.00

(Forecast)

(Note) Modification in the dividend forecast for current quarter: No modification

3. Forecast for Consolidated Results for the Full Year Ending March 31, 2024 (April 1, 2023 - March 31, 2024)

(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)	70,000		9.0	1,500	-55.4	2,600	-59.5	1,400	-68.3	36.70
Full year	147,000		12.0	11,000	27.4	10,500	1.5	7,500	7.9	196.64

(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, 2023:	40,383,943 shares	As of March 31, 2023:	40,383,943 shares
2) Number of shares of treasury stock as of period-end
As of June 30, 2023:	2,244,159 shares	As of March 31, 2023:	2,243,479 shares
3) Average number of outstanding shares during period
1Q 2023: 38,140,128 shares	1Q 2022: 39,953.060 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,2023	As of June 2023
(summary)
ASSETS
Current Assets
Cash and deposits	17,662	20,091
Notes and accounts receivable-trade and contract assets	38,618	43,613
Electronically recorded monetary claims - operating	1,322	2,081
Merchandise and finished goods	37,558	41,756
Work in process	6,897	7,288
Raw materials and supplies	30,323	29,279
Other	6,292	5,569
Allowance for doubtful accounts	-1,175	-1,165
Total current assets	137,499	148,514
Noncurrent Assets
Property, plant and equipment
Machinery, equipment net	20,390	20,597
Others , net	26,338	25,047
Total property , plant and equipment	46,728	45,645
Intangible assets	1,396	2,096
Investments and other assets
Investment securities	8,106	8,839
Deferred tax assets	7,308	7,446
Net defined benefit asset	23	24
Other	900	1,357
Allowance for doubtful accounts	-49	-49
Total investments and other assets	16,289	17,618
Total noncurrent assets	64,414	65,359
Total Assets	201,913	213,874

• 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,2023	As of June 2023
(summary)
LIABILITIES
Current Liabilities
Notes and accounts payable - trade	22,682	24,153
Electronically recorded obligations - operating	1,366	1,400
Short-term loans payable	22,426	28,853
Currents portion of bonds	938	938
Income tax payable	403	613
Reserve	924	1,510
Other	10,450	10,628
Total current liabilities
59,192	68,098
Noncurrent Liabilities
Bonds payable	2,960	2,855
Long-term loans payable	25,647	24,416
Provision for environment and safety improvement	1,145	1,045
Other provision	238	238
Net defined benefit liability	12,166	12,134
Other	3,131	3,651
Total noncurrent liabilities
45,289	44,386
Total Liabilities
104,481	112,485
NET ASSETS
Shareholder's equity
Capital stock	43,420	43,420
Capital surplus	10,653	10,653
Retained earnings	44,102	47,485
Treasury stock	-2,710	-2,710
Total shareholder's equity
95,466	98,848
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	384	562
Foreign currency translation adjustment	1,309	1,693
Remeasurements of defined benefit plans	271	284
Total accumulated other comprehensive income
1,965	2,540
Total net assets	97,431	101,389
Total Liabilities and Net Assets	201,913	213,874

• 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 2022	Q1 2023
Account Category	(April 1,2022 to	(April 1,2023 to
	June 30,2022)	June 30,2023)
Net sales	33,320	37,607
Cost of sales	24,364	28,063
Gross profit	8,956	9,544
Selling, general and administrative expenses	6,269	6,312
Operating income	2,686	3,232
Non-operating income
Interest income	3	27
Dividends income	150	196
Share of profit of entities accounted for using equity method	176	423
Foreign exchange income	1,525	1,971
Gain on sales of raw materials	54	79
Other	95	165
Total non-operating income	2,006	2,863
Non-operating expenses
Interest expenses	122	143
Financial fee	99	95
Other	54	53
Total non-operating expenses	276	292
Ordinary income	4,416	5,803
Extraordinary income
Gain on sale of investment securities	19	―
Total extraordinary income	19	―
Extraordinary loss
Loss on disposal of non-current assets	234	217
Total extraordinary loss	234	217
Income before income taxes and minority interests	4,200	5,586
Income taxes	597	639
Income taxes - deferred	138	-38
Total income taxes	736	600
Net income	3,464	4,985
Profit attributable to owners of parent	3,464	4,985

• 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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