Oji : Financial Section 2022

OJI HOLDINGS CORPORATION

[Translation]

OJI HOLDINGS CORPORATION

CONSOLIDATED FINANCIAL STATEMENTS

For the fiscal year ended March 31, 2023

The accompanying consolidated financial statement expressed in Japanese yen are the translation of those issued domestically. The amounts expressed in U.S. dollars are not included in the original audited consolidated financial statements. Such U.S. dollar amounts are translated in accordance with the basis stated in "Basis of Presentation" in the next page and are additionally presented herein solely for the convenience of readers outside Japan, and are not subject to audit.

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OJI HOLDINGS CORPORATION

Basis of Preparation

1. The accompanying consolidated financial statements of Oji Holdings Corporation (the "Company") and its consolidated subsidiaries (collectively, the "Group") are prepared on the basis of accounting principles generally accepted in Japan, which are different in certain respects to the application and disclosure requirements of International Financial Reporting Standards, and which are compiled from the consolidated financial statements prepared by the Company as required by the Financial Instruments and Exchange Act of Japan.
2. The accompanying consolidated financial statements are expressed in yen, and solely for the convenience of readers outside Japan, have been translated into U.S. dollars at the rate of ¥ 133.53 to U.S. $ 1.00, the approximate rate of exchange prevailing at March 31, 2023. This translation should not be construed as a representation that the yen amounts shown could be converted into U.S. dollars at the above or any other rate. Japanese yen figures less than a million yen are rounded down to the nearest million yen, and U.S. dollars figures less than a thousand dollars are rounded down to the nearest thousand dollars, except for per share data.

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OJI HOLDINGS CORPORATION

CONSOLIDATED BALANCE SHEET

As of March 31, 2023 and 2022

ASSETS

Current assets

Cash and deposits (Note 10 (2)) Notes receivable-trade

Accounts receivable-trade (Note 10 (2)) Contract assets

Short-term securities Merchandise and finished goods (Note 10 (2))

Work in process (Note 10 (2))

Raw materials and supplies (Note 10 (2)) Short-term loans receivable (Note 10 (2)) Accounts receivable-other

Other (Note 10 (2))

Allowance for doubtful accounts

Total current assets

Non-current assets

Property, plant and equipment Buildings and structures Accumulated depreciation (Note 10 (7)) Buildings and structures (Net)

(Notes 10 (2), (8))

Machinery, equipment and vehicles Accumulated depreciation (Note 10 (7)) Machinery, equipment and vehicles (Net) (Notes 10 (2), (8))

Tools, furniture and fixtures Accumulated depreciation (Note 10 (7)) Tools, furniture and fixtures (Net) (Note 10 (2))

Land (Notes 10 (2), (5)) Forests (Note 10 (2)) Plantations (Notes 10 (2), (8)) Leased assets

Accumulated depreciation (Note 10 (7)) Leased assets (Net)

Construction in progress (Note 10 (2))

Total property, plant and equipment

Intangible assets

Goodwill

Other (Note 10 (2))

Total intangible assets

Millions of yen		Thousands of
	U.S. dollars
2023	2022	2023
¥50,774	¥44,749	$ 380,251
64,768	60,227	485,046
309,604	260,231	2,318,611
2,995	3,983	22,435
6,299	11,074	47,179
117,473	98,616	879,753
23,510	20,294	176,068
140,337	106,266	1,050,984
4,101	4,764	30,716
33,877	18,575	253,709
36,717	18,800	274,975
(1,791)	(1,790)	(13,415)
788,670	645,795	5,906,316
746,007	709,982	5,586,817
(529,962)	(513,533)	(3,968,861)
216,045	196,448	1,617,956
2,629,592	2,495,207	19,692,896
(2,221,722)	(2,156,261)	(16,638,380)
407,869	338,946	3,054,515
63,934	61,622	478,801
(57,380)	(56,037)	(429,720)
6,553	5,585	49,081
242,287	240,765	1,814,479
133,123	116,490	996,952
111,352	92,343	833,911
76,573	65,356	573,452
(29,209)	(22,713)	(218,749)
47,363	42,643	354,703
43,639	94,091	326,813
1,208,234	1,127,315	9,048,412
11,868	3,472	88,882
14,119	8,079	105,743
25,988	11,552	194,625

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Investments and other assets Investment securities (Notes 10 (1), (2)) Long-term loans receivable

Long-term prepaid expenses

Net defined benefit asset Deferred tax assets Other (Note 10 (2))

Allowance for doubtful accounts

Total investments and other assets

Total non-current assets

Total assets

OJI HOLDINGS CORPORATION

Millions of yen			Thousands of
		U.S. dollars
2023	2022		2023
180,067	168,545		1,348,516
4,693	5,571	35,150
2,760	3,497	20,675
53,837	61,542	403,189
6,816	8,819	51,046
26,921	22,095	201,611
(1,972)	(982)	(14,770)
273,124	269,089		2,045,419
1,507,347	1,407,956		11,288,458
¥2,296,018	¥2,053,752	$17,194,774

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OJI HOLDINGS CORPORATION

LIABILITIES

Current liabilities

Notes and accounts payable-trade (Note 10 (2)) Short-term loans payable (Note 10 (2)) Commercial paper

Accounts payable-other Accrued expenses Income taxes payable Other

Total current liabilities

Non-current liabilities Bonds

Long-term loans payable (Note 10 (2)) Deferred tax liabilities

Deferred tax liabilities for land revaluation (Note 10 (5))

Net defined benefit liability Long-term deposits received Other

Total non-current liabilities

Total liabilities

CONTINGENT LIABILITIES (Note 10 (3))

NET ASSETS

Shareholders' equity

Common stock

Capital surplus

Retained earnings

Treasury stock

Total shareholders' equity

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

Deferred gains (losses) on hedges Revaluation reserve for land (Note 10 (5)) Foreign currency translation adjustment Remeasurements of defined benefit plans

Total accumulated other comprehensive income

Share acquisition rights

Non-controlling interests

Total net assets

Total liabilities and net assets

Millions of yen			Thousands of
		U.S. dollars
2023	2022		2023
¥251,176	¥234,650	$1,881,046
226,739	166,445	1,698,039
86,000	－	644,050
20,111	24,653	150,612
49,809	51,457	373,020
16,643	23,993	124,639
36,591	31,818		274,029
687,070	533,020	5,145,438
155,000	155,000	1,160,787
320,599	329,062	2,400,957
69,283	64,013	518,857
7,732	7,737	57,905
53,537	54,022	400,942
6,620	6,809	49,579
31,609	28,616	236,723
644,383	645,261		4,825,755
¥ 1,331,453	¥ 1,178,282		$9,971,193

103,880	103,880	777,959
85,892	99,163	643,248
607,593	567,150	4,550,241
(12,949)	(13,277)	(96,977)
784,418	756,918		5,874,471
41,573	30,500	311,341
474	2,076	3,550
5,716	5,728	42,809
85,253	29,593	638,458
19,514	26,415	146,141
152,531	94,314		1,142,302
134	157		1,007
27,480	24,080	205,800
964,564	875,470		7,223,581
¥2,296,018	¥2,053,752		$17,194,774

The accompanying notes are an integral part of these financial statements.

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