Ishihara Sangyo Kaisha : Summary of Consolidated Financial Statements for 2Q of Fiscal Year Ending March 31, 2023(Japan GAAP)

Summary of Consolidated Financial Statements

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

				November 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) Director		(Name) Yasunobu Kawazoe	Tel [phone]

Scheduled date of securities report submission: November ,11, 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 Second Quarter of Fiscal Year Ending March 31, 2023(April 1, 2022 to September 30, 2022)

1. Consolidated Operating Results

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

		Net sales			Operating income	Ordinary income		Net income
	millions of yen		%	millions of yen	%	millions of yen	%		millions of yen		%
2Q, 2022		64,227		14.4		3,362	-31.3	6,420	33.7		4,411		5.7
2Q, 2021		56,134		15.0		4,892	⎯	4,800	⎯		4,173		⎯
(Note) Comprehensive income:	As of September 30, 2022: 6,431million yen (30.3 %)
		As of September 30, 2021: 4,936million yen ( ⎯ %)
		Net income per share	Net income per share after full dilution
					Yen				Yen
2Q, 2022				110.39			⎯
2Q, 2021				104.46			⎯

(Note)The year-on-year changes in operating income and ordinary income for the second quarter of fiscal year ending March 31,2022 exceeded 1,000% and therefor are referred to as "⎯".

(2) Consolidated Financial Position

		Total assets			Net assets	Capital adequacy ratio
		millions of yen			Millions of yen		%
	2Q, 2022		190,836			96,879		50.8
	Year ended March 31, 2022		185,758			91,869		49.5
	(Reference) Equity capital:	As of September 30, 2022: 96,879million yen
		As of March 31, 2022: 91,869million 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 ending March 31, 2023	⎯				0.00
	Year ending March 31, 2023						⎯		40.00	40.00
	(Forecast)
(Note) 1. Modification in the dividend forecast for current quarter: 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	Net income		Earnings per share
		millions		%	millions	%	millions	%	millions		%	Yen
		of yen		of yen	of yen	of yen
	Full year	138,000		24.4	8,500	-26.5	10,500	-20.9	7,000		-40.1	175.15
(Note) Modification in the dividend forecast for current quarter: Modified

The Company resolved to repurchase its own shares at the board of directors meeting held on November 10, 2022. The impact of repurchase of own shares is not taken into account in regards to"EPS"in the forecast of consolidated financial results for FY2023.

• 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
(4) Issued shares (common shares)
1)	Issued shares as of period-end (including repurchased treasury shares)
	As of September 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 September 30, 2022: 414,096 shares	As of March 31, 2022: 430,740 shares
3) Average number of outstanding shares during period
	2Q 2022:39,960,493 shares	2Q 2021:39,955,705 shares

*Quarterly financial results are outside the scope of quarterly review.

*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 September,2022
(summary)
ASSETS
Current Assets
Cash and deposits	27,073	20,208
Notes and accounts receivable-trade and contract assets	33,736	35,951
Merchandise and finished goods	32,813	35,127
Work in process	4,633	5,978
Raw materials and supplies	20,051	25,392
Other	4,190	5,731
Allowance for doubtful accounts	-1,109	-1,159
Total current assets	121,389	127,29
Non-current assets
Property, plant and equipment
Machinery and equipment, net	20,723	20,761
Others, net	25,812	23,762
Total property, plant and equipment	46,535	44,513
Intangible assets	1,018	1,439
Investments and other assets
Investment securities	7,456	8,465
Deferred tax assets	8,883	8,267
Net defined benefit asset	10	16
Other	550	953
Allowance for doubtful accounts	-85	-49
Total investments and other assets	16,815	17,653
Total non-current assets	64,369	63,606
Total Assets	185,758	190,836

• 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 September, 2022
(summary)
LIABILITIES
Current Liabilities
Notes and accounts payable - trade	17,739	22,243
Short-term loans payable	16,068	15,682
Current portion of bonds	1,118	1,028
Income taxes payable	1,242	824
Reserve	1,438	1,436
Other	9,124	10,192
Total current liabilities
46,731	51,408
Noncurrent liabilities
Bonds payable	3,898	3,429
Long-term loans payable	24,831	21,055
Provision for environment and safety improvement	1,384	1,260
Other provision	83	114
Net defined benefit liability	13,058	12,827
Other	3,901	3,860
Total non-current liabilities
47,157	42,548
Total Liabilities
93,889	93,956
NET ASSETS
Shareholders' equity
Capital stock	43,420	43,420
Capital surplus	10,627	10,636
Retained earnings	38,592	41,565
Treasury stock	-734	-726
Total shareholders' equity
91,905	94,895
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	405	313
Foreign currency translation adjustment	-297	1,763
Remeasurements of defined benefit plans	-143	-93
Total accumulated other comprehensive income
-36	1,983
Total net assets
91,869	96,879
Total Liabilities and Net Assets
185,758	190,836

• 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)
	Q2 2021	Q2 2022
Account Category	(April 1,2021 to	(April 1,2022 to
	September 30,2021)	September 30,2022)
Net sales	56,134	64,227
Cost of sales	40,978	48,391
Gross profit	15,156	15,836
Selling, general and administrative expenses	10,263	12,474
Operating income	4,892	3,362
Non-operating income
Interest income	8	8
Dividend income	150	153
Equity in earnings of affiliates	－	866
Foreign exchange income	251	2,308
Gain on sales of raw materials	99	92
Other	224	144
Total non-operating income	733	3,573
Non-operating expenses
Interest expenses	281	242
Financial Fees	163	177
Equity in losses of affiliates	260	－
Other	120	96
Total non-operating expenses	825	515
Ordinary income	4,800	6,420
Extraordinary income
Gain on forgiveness of debts	552	－
Gain on sale of investment securities	31	37
Other	73	－
Total extraordinary income	657	37
Extraordinary loss
Loss on disposal of non-current assets	391	468
Total extraordinary loss	391	468
Income before income taxes and minority interests	5,066	5,989
Income taxes-current	688	838
Income taxes - deferred	203	739
Total income taxes	892	1,577
Net income	4,173	4,411
Profit attributable to owners of parent	4,173	4,411

• 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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