Organo : Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 356KB

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice.

	Consolidated Financial Results
	for the Fiscal Year Ended March 31, 2023
	May 12, 2023
Company name:	ORGANO CORPORATION
Listing:	Tokyo Stock Exchange
Securities code:	6368
URL:	https://www.organo.co.jp/english/
Representative:	Masayuki Yamada, Representative Director and President
Inquiries:	Shigeru Sonobe, General Manager of Accounting Dept., Corporate Management and
	Planning
TEL:	[phone]

Scheduled date of ordinary general meeting of shareholders:	June 29, 2023
Scheduled date to commence dividend payments:	June 30, 2023
Scheduled date to file annual securities report:	June 29, 2023
Preparation of supplementary material on financial results:	Yes
Holding of financial results presentation meeting:	Yes (for institutional investors and
	analysts)

(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Consolidated operating results				(Percentages indicate year-on-year changes.)
		Net sales		Operating profit	Ordinary profit	Profit attributable to
			owners of parent
	Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
	March 31, 2023	132,426	18.2	15,212	40.2	16,020	38.8	11,730	27.4
	March 31, 2022	112,069	11.4	10,850	13.3	11,545	16.6	9,210	30.2

	Note:	Comprehensive income: Fiscal year ended March 31, 2023	¥12,602 million [21.1%]
			Fiscal year ended March 31, 2022	¥10,405 million [34.9%]
			Basic earnings	Diluted earnings				Ratio of ordinary	Operating profit
				Return on equity	profit to total
			per share		per share		ratio
							assets
	Fiscal year ended	Yen		Yen			%	%	%
	March 31, 2023	255.77		-			14.5	10.8	11.5
	March 31, 2022	200.67		-			12.9	9.4	9.7
	(Reference) Share of profit	(loss) of entities accounted for using equity method
		Fiscal year ended March 31, 2023	¥208 million
		Fiscal year ended March 31, 2022	¥160 million

The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Basic earnings per share are calculated on the assumption that said share split was conducted at the beginning of the previous fiscal year.

(2) Consolidated financial position

			Total assets	Net assets	Equity-to-asset ratio	Net assets per share
	As of		Millions of yen	Millions of yen	%	Yen
	March 31, 2023		164,854	86,371	52.3	1,877.80
	March 31, 2022		130,506	76,004	58.1	1,655.14
	(Reference) Equity: As of March 31, 2023	¥86,170 million
		As of March 31, 2022	¥75,836 million

The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Net assets per share are calculated on the assumption that said share split was conducted at the beginning of the previous fiscal year.

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents
	operating activities	investing activities	financing activities
	at end of period
Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
March 31, 2023	(18,536)	(1,309)	14,706	15,558
March 31, 2022	10,787	(1,520)	(2,586)	20,198

2. Cash dividends

		Annual dividends per share			Total cash			Ratio of
							Payout ratio dividends to
	First	Second	Third	Fiscal	Total		dividends
	quarter-end	quarter-end	quarter-end	year-end		(annual)	(consolidated)	net assets
					(consolidated)
	Yen	Yen	Yen	Yen	Yen		Millions of	%		%
		yen
Fiscal year ended	-	72.00	-	88.00	160.00	1,840		19.9		2.6
March 31, 2022
Fiscal year ended	-	116.00	-	33.00	-	2,853		24.2		3.5
March 31, 2023
Fiscal year ending
March 31, 2024	-	33.00	-	33.00	66.00				27.0
(Forecast)

The Company conducted a 4-for-1 common share split effective as of October 1, 2022. The second quarter-end dividend per share for the fiscal year ended March 31, 2023 was stated before taking into account the effect of this share split, and the total annual dividend for the year was stated as "-". The annual dividend per share for the fiscal year ended March 31, 2023 that has been calculated based on post-share split figures is ¥62.

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

							(Percentages indicate year-on-year changes.)
								Profit attributable to	Basic
	Net sales		Operating profit	Ordinary profit	earnings
		owners of parent
								per share
	Millions		%	Millions	%	Millions	%	Millions	%	Yen
	of yen		of yen	of yen	of yen
Six months ending
September 30, 2023	70,000		12.7	6,600	1.4	6,600	(11.4)	4,600	(8.5)	100.24
(cumulative)
Fiscal year ending	150,000		13.3	16,000	5.2	16,000	(0.1)	11,200	(4.5)	244.07
March 31, 2024

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
2. Changes in accounting policies, changes in accounting estimates, and restatement
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
4. Number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2023

As of March 31, 2022

46,359,700 shares

46,359,700 shares

b. Number of treasury shares at the end of the period

As of March 31, 2023

As of March 31, 2022

470,795 shares

541,020 shares

c. Average number of shares outstanding during the period

For the fiscal year ended March 31, 2023

For the fiscal year ended March 31, 2022

45,863,749 shares

45,898,316 shares

Notes:

1. The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Total number of issued shares at the end of the period, number of treasury shares at the end of the period, and average number of shares outstanding during the period are calculated on the assumption that said share split was conducted at the beginning of the previous fiscal year.
2. The Company has introduced an Officer Share Delivery Trust, and shares of the Company held by the Trust have been included in treasury shares excluded from the calculation of the number of treasury shares at the end of the period and the average number of shares outstanding during the period.

[Reference] Overview of non-consolidated financial results

1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Non-consolidated operating results				(Percentages indicate year-on-year changes.)
	Net sales	Operating profit	Ordinary profit	Profit
Fiscal year ended	Millions of yen	%	Millions of yen		%	Millions of yen	%	Millions of yen	%
March 31, 2023	78,387	11.9	8,834		30.4	11,026	27.2	8,593	14.9
March 31, 2022	70,063	(3.6)	6,772		7.3	8,667	11.5	7,480	27.2
	Basic earnings	Diluted earnings
	per share	per share
Fiscal year ended		Yen			Yen
March 31, 2023		187.36			-
March 31, 2022		162.98			-

The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Basic earnings per share are calculated on the assumption that said share split was conducted at the beginning of the previous fiscal year.

(2) Non-consolidated financial position

		Total assets	Net assets	Equity-to-asset ratio	Net assets per share
As of		Millions of yen	Millions of yen	%	Yen
March 31, 2023		125,235	68,824	55.0	1,499.80
March 31, 2022		102,721	62,361	60.7	1,361.05
(Reference) Equity:	As of March 31, 2023	¥68,824 million
	As of March 31, 2022	¥62,361 million

The Company conducted a 4-for-1 common share split effective as of October 1, 2022. Net assets per share are calculated on the assumption that said share split was conducted at the beginning of the previous fiscal year.

year-on-year differences in non-consolidated financial results>

Differences between the results for the fiscal year under review and the results for the previous fiscal year occurred due to the same reasons stated in "(1) Overview of operating results for the fiscal year under review" in "1. Overview of operating results, etc." on 2 of the attached material.

• Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters (Caution regarding forward-looking statements and others)
  The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual business and other results may differ substantially due to various factors. Please refer to "(4) Future outlook" in "1. Overview of operating results, etc." on page 7 of the attached material for the suppositions that form the assumptions for earnings forecasts and cautions concerning the use thereof.

Attached Material
	Index
1. Overview of operating results, etc	2
(1)	Overview of operating results for the fiscal year under review	2
(2)	Overview of financial position for the fiscal year under review	6
(3)	Overview of cash flows for the fiscal year under review	6
(4)	Future outlook	7
2. Basic policy regarding selection of accounting standards	7
3. Consolidated financial statements and significant notes thereto	8
(1)	Consolidated balance sheet	8
(2)	Consolidated statement of income and consolidated statement of comprehensive income	10
	Consolidated statement of income	10
	Consolidated statement of comprehensive income	11
(3)	Consolidated statement of changes in equity	12
(4)	Consolidated statement of cash flows	14
(5)	Notes to consolidated financial statements	16
	Notes on premise of going concern	16
	Segment information, etc	16
	Per share information	19
	Significant subsequent events	19

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