Sumitomo Osaka Cement : Summary of Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024 (JGAAP) (Consolidated)

Summary of Consolidated Financial Results

for the First Quarter Fiscal Year 2023, Ending March 31, 2024 (JGAAP)

August 8,2023

Company name

Sumitomo Osaka Cement Co., Ltd

Stock Exchange Listing

Tokyo

Stock code

5232

URL

https://www.soc.co.jp/

Representative

(Job Title) Managing Director (Name)

Hirotsune Morohashi

Contact Manager

(Job Title) General Manager

(Name)

Chitaru Imai

(TEL) ;[phone]

Scheduled

date

to

submitAugust 9, 2023

Scheduled date to

commence

ー

the Quarterly Report

dividend payments

Availability of supplementary briefing

：Not available

material on quarterly financial results

Scheduled

date

of

Quarterly

Financial：Not available

Results Briefing Session

(Figures are rounded down to the nearest million yen)

１．Consolidated Financial Results for the first quarter

(From April 1, 2023 to June 30, 2023)

（１）Consolidated operating results(cumulative)

(％ indicated changes from the previous

corresponding term)

Quarterly net

Net sales

Operating profit

Ordinary profit

profit attributable

to owners of the

parent

Millions of yen

％

Millions of yen

％

Millions of yen

％

Millions of yen

％

FY ending March, 2024

52,766

16.0

127

-

1,363

-

5,183

-

the first quarter

FY ending March, 2023

45,500

3.9

△3,147

-

△2,795

-

△1,107

-

the first quarter

(Note) Comprehensive

FY ending March

4,384 Millions (-％)

FY ending March 2023

Millions ( -％)

profit

2024 the first

of yen

the first quarter △5,583 of yen

quarter

Quarterly net

Quarterly net

profit per share

profit per share

after adjusting

potential share

Yen Sen

Yen

Sen

FY ending

March,2024

151.34

―

the first quarter

FY ending March,2023

△32.20

―

The first quarter

（２）Consolidated Financial Status

Total assets

Net assets

Net assets ratio

Millions of yen

Millions of yen

％

FY ending March,2024

353,348

186,874

52.3

the first quarter term

FY ending March,2023

356,558

184,591

51.2

(Reference)

Net

FY ending March, 2024 184,708

Millions

FY ending

182,438 Millions

assets

the first quarter

of yen

March

of yen

2023

： None

： None

： None

２．Dividend Status

			Annual Dividend
	End of 1Q	End of 2Q	End of 3Q		Year-end		Total
	Yen	Sen	Yen Sen	Yen Sen			Yen Sen		Yen Sen
FY ending March,2023		―	60.00	―			60.00		120.00
FY ending March,2024		―
End of March,2024			60.00	―			60.00		120.00
(Forecast)
(Note) Revisions from the most recently published dividend forecast	：None

３．The fiscal year ending March,2024 Consolidated Performance Forecast （From April 1, 2023 to March 31, 2024）

(％ indicates changes from the previous corresponding term)

Net profit

Net sales

Operating profit

Ordinary profit

attributable to

Net profit

owners of the

per share

parent

The 2nd

quarter

Millions of

％

Millions of

％

Millions of

％

Millions of

％

Yen Sen

yen

yen

yen

yen

(Cumulative)

108,800

13.7

△600

-

200

-

3,800

-

110.94

Full Year

230,000

12.4

6,100

-

6,500

-

9,500

-

277.35

(Note)

Presence or absence of revisions from the most recently announced earnings forecast

: Presence

※ Notes

（1）Changes in significant subsidiaries during this consolidated cumulative quarter ：None

(Changes od subsidiaries involving changes in the scope of consolidation)

New －Company	（Name of	Excluded －Company	（Name of
Company）	company）

（２）Adoption of specific accounting treatments to the preparation of quarterly ：None consolidated financial statements

（３）Changes in accounting policies, changes in accounting estimation or restatements ① Changes in accounting policies due to the revision

of accounting standards

② Changes in accounting policies other than ①

③ Changes in accounting estimation

④ Restatements

: None

（4） Numbers of Shares Issued（Common stock）

① Total number of issued shares （including treasury stock）

• Total number of treasury stocks

• Average number of shares during the period（cumulative）

FY ending March,			FY ending March,
2024	34,329,517	Shares	2023	34,329,517	Shares
1Ｑ
FY ending March,			FY ending March,
2024	76,816	Shares	2023	76,673	Shares
1Ｑ
FY ending March,			FY ending March,
2024	34,252,745	Shares	2023	34,387,092	Shares
1Ｑ			1Ｑ

• The quarterly Financial Reports are outside of the scope of quarterly review by certified public accountants and audit corporations
• Explanation for the appropriate use of performance forecasts and other special notes:

The statements regarding forecast of financial results in this report are based on the information that is available to the Company at present. Therefore, there might be cases in which actual results differ materially from forecast values due to various factors. For the suppositions that from the assumptions for profit forecast and cautions concerning the user thereof, please refer to "1, Qualitative Information on Quarterly Financial Results" and "(3) Qualitative Information on Forecast of Consolidated Financial Results and Other Forward-Looking Information" on page 2 of the Appendix

• Table of Contents of Appendix

１．Qualitative Information on Quarterly Financial Results	………………………………2
(1)	Qualitative information on consolidated operational results	…………………………2
(2)	Qualitative information on consolidated financial position	……………………………2
(3)	Qualitative information on consolidated financial results
and other forward-looking information	…………………………………………2

２．Notes on Quarterly Consolidated Financial Statements and Principal ……………………3

（1）Quarterly consolidated balance sheet ………………………………………………………… 3

（2）Quarterly consolidated profit and loss calculation and comprehensive profit …… 5

(3)Notes to Quarterly Consolidated Financial Statements ………………………………………7

（Notes to going concern assumption） …………………………………………………………7

(Notes to significant changes in the amount of shareholders' equity) ………………7

（Segment information） ……………………………………………………………………………7

３．Supplementary Information …………………………………………………………………………8

(1) Consolidated segment profit and loss（Period comparison） ………………………………8

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1．Qualitative Information on Quarterly Financial Results

(1) Qualitative Information on Consolidated Operating Results

During the first quarter of the fiscal year ending March 31, 2024 (April to June 2023), the Japanese economy has been showing signs of gradual recovery, although weakness is still evident.

In the cement industry, domestic demand for cement fell 6.5% year on year to 8,575 thousand tons, as public-sector demand was weak due to longer construction periods caused by higher costs for various materials and labor, and long-term demand was affected by delayed progress in redevelopment projects. Exports, on the other hand, fell 42.8% year on year.

As a result, total sales volume by domestic manufacturers, including exports, was 10,085 thousand tons, down 14.6% year-on-year.

Under these circumstances, our group started the "FY2023-2025Medium-Term Management Plan" in the current fiscal year. The Group have positioned "improving the profitability of existing businesses," including a recovery in cement business earnings, and "building a foundation for growth" by concentrating resources on the electronic materials business for successful semiconductor production equipment, expanding overseas business, and developing new businesses in the de-carbonization field as company-wide strategies, and will work on the first measures to strengthen our management foundation.

As a result of the above, net sales for the first quarter of the current fiscal year totaled 52,766

million yen, up 7,265 million yen year on year, and ordinary income totaled 1,363 million yen, up 4,159 million yen year on year. Net income attributable to shareholders of the parent company was 5,183 million yen, an increase of 6,291 million yen year on year.

(2) Qualitative Information on Consolidated Financial Position

Total assets at the end of the first quarter of the current fiscal year were 353,348 million yen, an decrease of 3,209 million yen from the end of the previous fiscal year. The main changes were a 3,252 million yen increase in cash and deposit, 4,528 million yen decrease in raw materials and supplies, and 2,786 million yen decrease in investment securities.

Total liabilities amounted to 166,473 million yen, a decrease of 5,492 million yen from the end of the previous fiscal year. The main changes were a decrease of 3,000 million yen in commercial paper and a decrease of 1,261 million yen in notes and accounts payable.

Net assets were 186,874 million yen, an increase of 2,282 million yen from the end of the previous fiscal year. The main components of the change were an increase of 3,127 million yen in retained earnings and a decrease of 845 million yen in valuation difference on available-for-sale securities.

(3) Qualitative Information on Consolidated Financial Forecasts and Other Forward-Looking Statements

The consolidated forecast has been revised from the previous forecast (announced on June 28, 2023). For details, please refer to the "Notice of Revision of Earnings Forecasts for the Six Months Ended September 30, 2024" released today (August 8, 2023).

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