KITZ : Consolidated Financial Results for the Three Months of the Fiscal Year Ending December 31, 2023(Partia l Release)

Partial Release

Consolidated Financial Results for the Three Months of the Fiscal Year

Ending December 31, 2023

(Japanese Accounting Standards)

This document has been prepared as a guide for non-Japanese investors and contains forward-looking statements that are based on managements' estimates, assumptions and projections at the time of publication. A number of factors could cause actual results to differ materially from expectations. This document is a translation of excerpts taken from the Japanese language original. All numbers are rounded down to the nearest until in accordance with standard Japanese practice. Please be advised that the Company cannot accept responsibility for investment decisions made based on the information contained in this report.

May 15, 2023

Company Name: KITZ CORPORATION

Stock Listing: Tokyo Stock Exchange Stock Code: 6498

URL:https://www.kitz.com/en

President and Chief Executive Officer: Makoto Kohno

Inquiries: Makoto Ushimaru, Division Manager, Accounting & Finance Center

Telephone: [phone]

Date of Financial Statement Filing (Planned): May 15, 2023

Availability of Financial Results Supplementary Presentation Materials: Yes

Financial Results Presentation Meeting: Yes (For institutional investors and analysts)

(Figures of less than one million yen are rounded down to the nearest decimal)

1. Consolidated Financial Results (Jan. 1, 2023 - Mar. 31, 2023)

(1) Consolidated Operating Results							(% figures represent year-over-year change)
	Net Sales		Operating Income		Ordinary Income		Net Income attributable to
				owners of the parent
	Million yen		％	Million yen		％	Million yen		％	Million yen		％
FY2023 December Q1	39,241		6.8	3,496		28.5	3,776		33.3	3,376		80.9
FY2022 December Q1	36,750		23.4	2,721		62.3	2,832		67.1	1,866		103.2

(Note) Comprehensive Income:	FY2023 December Q1 : ¥3,891 million (-10.9%)	FY2022 December Q1 : ¥4,366 million (94.9%)
	Net Income per Share	Net Income per Share
	(Diluted)
		Yen	Yen
FY2023 December Q1		37.66	37.65
FY2022 December Q1		20.83	20.83

(2) Consolidated Financial Position

Total Assets

Net Assets

Equity Ratio

Net Assets per Share

Million Yen

Million Yen

%

Yen

FY2023 December Q1

155,968

93,256

59.0

1,027.44

FY2022 December

152,569

91,042

59.0

1,002.69

(Reference) Equity: FY2023 December Q1 : ¥92,082 million

FY2022 December : ¥89,941 million

2. Dividends

Annual Dividend

Q1

Q2

Q3

Q4

Total

FY2022 December

Yen

Yen

Yen

Yen

Yen

―

15.00

―

18.00

33.00

FY2023 December

―

FY2023 December (Planned)

18.00

―

19.00

37.00

Revisions to dividends recently announced: Yes

3. Consolidated Financial Forecasts for the Fiscal Year Ending December 2023 (Jan. 1, 2023-Dec. 31, 2023)

(% figures represent year-over-year change)

Net Sales

Operating Income

Ordinary Income

Net Income attributable to

Net Income

owners of the parent

per Share

Million Yen

％

Million Yen

％

Million Yen

％

Million Yen

％

Yen

2nd quarter-end (six months)

80,300

4.4

6,500

16.1

6,850

11.7

5,300

27.8

59.09

Full year

169,000

5.7

12,900

16.7

13,300

10.4

9,700

13.5

108.15

(Note) Revisions to consolidated financial forecasts recently announced: Yes

Partial Release

• Annotation

1. Changes in significant subsidiaries (Changes in subsidiaries affecting the scope of consolidation): Yes
   Newly consolidated: 1 (Company name: KITZ Corporation of Vietnam Co., Ltd.)
   Removed from consolidation: None

(2)Application of special accounting procedures in the preparation of our quarterly consolidated financial statements: Yes

1. Changes in accounting methods, procedures and presentations concerning preparation of consolidated financial statements
2. 1. Changes accompanying revisions in accounting standards: None
   2. Other changes: None
   3. Changes in accounting estimates: None
   4. Redisplay of revisions: None

1. Number of shares outstanding (Common stock)
2. 1. Shares issued as of term end (including treasury stock):
   2. Treasury stock as of term end:
   3. Average during the term:

FY2023 Dec Q1	90,396,511	shares	FY2022 Dec	90,396,511 shares
FY2023 Dec Q1	773,822	shares	FY2022 Dec	697,124 shares
FY2023 Dec Q1	89,661,067	shares	FY2022 Dec Q1	89,609,550 shares

(Note) The shares held within the BIP trust accounts are included in term-end treasury stocks. (FY2023 December Q1: 418,587 shares,

FY2022 December: 418,587 shares,)

Furthermore, the shares held within the BIP trust accounts are included in treasury stocks that are deducted in the calculation of the average number of shares for the period. (FY2023 December Q1: 418,587 shares, FY2022 December Q1: 477,535 shares,)

• This document is not subject to audit procedures.
• Explanations regarding the appropriate uses of our earnings projections and other information:

The future prospects of the business results, etc., described in this document are based on currently available information and certain premises that are judged to be rational at the time of writing, and are not intended as a guarantee that the Company will achieve these targets. Actual performance and other results may differ significantly due to various factors.

*Investor presentation materials relating to our financial results are expected to be published on our corporate website on or after May 22, 2023.