MTI : Summary of Financial Results for FY2023

UNOFFICIAL TRANSLATION

The formal official document is in Japanese

Summary of Consolidated Financial Results

for the Fiscal Year ended September 30, 2023 (Japanese Accounting Standards)

								November 8, 2023
Listed Company Name: MTI Ltd.			Listing Exchanges: Tokyo Stock Exchange
Securities Code:	9438			URL:https://ir.mti.co.jp/eng/
Representative:	Toshihiro Maeta, President and Chief Executive Officer
Contact:	Hiroshi Matsumoto, Senior managing Director			Phone: [phone]
Scheduled date of annual meeting of shareholders: December 23, 2023
Scheduled date to submit the Securities Report (Yuka Shoken Houkokusho): December 25, 2023
Scheduled date of dividend payment: December 25, 2023
Supplementary documents for financial results: Yes
Financial results briefing: Yes (for securities analysts and institutional investors (On-demand))
					(Figures less than one millions of yen are omitted)
1. Consolidated financial results for the year ended September 30, 2023
(October 1, 2022 - September 30, 2023)
(1) Consolidated operating results				(Percentages represent year-on-year changes)
		Net sales		Operating income	Ordinary income	Profit attributable to
			owners of parent
		Millions of yen	% Millions of yen	% Millions of yen	% Millions of yen	%
For the year ended September 30, 2023	26,798	1.2	298	(65.7)	458	(5.7)	753	-
For the year ended September 30, 2022	26,479	2.9	870	(54.9)	485	(64.5)	(930)	-

(Note) Comprehensive income:	Year ended September 30, 2023: 778 million yen, (-%)
	Year months ended September 30, 2022: (1,137) million yen, (-%)
	Net income	Net income	Return on	Return on Assets	Net income
	per share	per share/diluted	Equity
	Yen	Yen	％		％	％
For the year ended September 30, 2023	13.73	-	5.4		1.6	1.1
For the year ended September 30, 2022	(16.99)	-	(5.9)		1.6	3.3
(Reference) Equity in earnings (losses) of affiliates: Year ended September 30 2023: 102 millions of yen
	Year ended September 30 2022: (457) millions of yen

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
	Millions of yen	Millions of yen	%	Yen
Year ended September 30, 2023	29,155	17,583	47.9	254.36
Year ended September 30, 2022	29,265	17,877	48.1	256.61
(Reference) Shareholders' equity:	Year ended September 30, 2023: 13,953 millions of yen
	Year ended September 30, 2022: 14,065 millions of yen

(3) Consolidated cash flows

	Net cash provided	Net cash provided	Net cash provided by	Cash and cash
	by (used in)	by (used in)	(used in) financing
	equivalent
	operating activities	investing activities	activities
	Millions of yen	Millions of yen	Millions of yen	Millions of yen
For the year ended September 30, 2023	4,764	(1,349)	(1,784)	13,720
For the year ended September 30, 2022	(1,393)	(2,460)	343	12,097

2. Dividends

For the year ended September 30, 2022 For the year ended September 30, 2023

For the year ending September 30, 2024 (forecast)

Dividend per share

End of	End of	End of			Amount of	Dividend ratio	Dividends on
		dividends paid	equity
first	second	third	Year end	Annual	(Consolidated)
(Total)	(Consolidated)
quarter	period	quarter
Yen	Yen	Yen	Yen	Yen		%	%
-	8.00	-	8.00	16.00	880	-	5.6
-	8.00	-	8.00	16.00	880	116.5	6.3
-	8.00	-	8.00	16.00		-

3. Forecast for consolidated financial results for the fiscal year ending September 30, 2024 (October 1, 2023 - September 30, 2024)

						(Percentages represent year-on-year changes)
	Net sales		Operating income	Ordinary income	Profit attributable to	Net income
		owners of parent	per share
					Millions of
	Millions of yen	%	Millions of yen	%	%	Millions of yen	%	Yen
	yen
For the first half	13,000	(4.5)	200	-	+6.9	50	-	0.91
200
Full year	27,000	+0.8	1,000	+235.1	1,000	+118.1	400	(46.9)	7.32

* Notes

(1) Important changes of subsidiaries during the term (changes in specified subsidiaries resulting in change in scope of

consolidation): Not applicable	Exception: -
New: -
(2) Changes in accounting policies and changes or restatement of accounting estimates	Not applicable
(i)	Changes in accounting policies due to the modification in accounting methods:
(ii)	Changes in accounting policies other than (i):		Not applicable
(iii)	Changes in accounting estimates:		Not applicable
(iv)	Restatement:		Not applicable

1. Number of outstanding shares (common shares)

1. Number of outstanding shares at the end of period (including treasury shares):

(ii)	9/23: 61,264,600 shares	9/22: 61,263,000 shares
Number of treasury shares at the end of period	9/22:	6,450,273 shares
(iii)	9/23:	6,405,973 shares
Average number of shares during the period	9/22:	54,781,561 shares
	9/23:	54,839,609 shares

(Reference) Summary of financial results

1. Nonconsolidated financial results for the year ended September 30, 2023 (From October 1, 2022 - September 30, 2023)

(1) Nonconsolidated operating results					(Percentages are shown as year-on-year changes)
	Net sales			Operating income	Ordinary income	Net income
For the year ended	Millions of yen	(	％	Millions of yen	(	％	Millions of yen	％	Millions of yen	％
20,763	3.2)	1,477	48.7)	761	40.9)	2,404	-
September 30, 2023
For the year ended	21,445	3.6	2,879	18.0	1,289	(43.6)	(3,524)	-
September 30, 2022		(
	Net income per		Fully diluted net
	share			income per share
For the year ended			Yen			Yen
	43.69			-
September 30, 2023
For the year ended		(64.10)			-
September 30, 2022

1. Nonconsolidatedfinancial position

	Total assets
For the year ended	Millions of yen
26,817
September 30, 2023
For the year ended	25,048
September 30, 2022

(Reference) Shareholders' equity

As of September 30, 2023: 16,490 millions of yen

Net assets	Equity ratio	Net assets per share
Millions of yen	％	Yen
16,549	61.5	299.51
15,043	59.6	271.45
As of September 30, 2022:	14,932 millions of yen

* Status of review

Financial results is out of audit.

* Cautionary statement with respect to forward-looking statements

The forward-looking statements included in this material are based on the Company's judgments, assumptions, and convictions based on information available to the Company at the time of publication of this document and may differ materially from actual results for a range of factors, including conditions of Japanese and overseas economies, changes in the situation of operations in Japan and overseas, and uncertainties and potential risks inherent in forward-looking statements. The risks and uncertainties include unforeseeable effects of future events. For the assumptions underlying the forecasts and other notice on the use of earnings forecasts, please refer to "(4) Future outlook" on page 4 in the accompanying material.

While the Company planned to hold an online briefing on earnings chiefly for securities analysts and institutional investors on Thursday, November 9, 2023, for original Japanese.