Fiscal year 2023 First Quarter

Financial Results

Explanatory Materials

August 3, 2023

Contents

First Quarter Financial Results for Fiscal Year 2023

  • Main points of the First quarter financial results for Fiscal Year 2023 ・・・・・ 4
  • Consolidated income statement ・・・・・・・・・・・・・・・・・・・・・ 5
  • Revenue by segment ・・・・・・・・・・・・・・・・・・・・・ ・・・・・ 6
  • Operating profit by segment ・・・・・・・・・・・・・・・・・・・・・・・ 7
  • Revenue and operating profit of each segment ・・・・・・・・・・・・・・ 8
  • Consolidated statement of financial position ・・・・・・・・・・・・・・・ 13
  • Cash flow status ・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 14

Fiscal Year 2023 Full-Year Financial Results forecast

  • Fiscal Year 2023 Full-Year Financial Results forecast ・・・・・・・・・・・・・・・・・・・・・ 16
  • Full-yearfinancial results forecast by segment ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 17

Supplementary materials

  • Segment classification table ・・・・・・・・・・・・・・・・・・・・・・・・・・19
  • Number of consolidated companies・・・・・・・・・・・・・・・・・・・・・・・21
  • Domestic Revenue by Type of gases・・・・・・・・・・・・・・・・・・・・・・22
  • Business profit by segment・・・・・・・・・・・・・・・・・・・・・・・・・・・ 23
  • Revenue of Regional business companies ・・・・・・・・・・・・・・・・・・・・24
  • Major Group Companies / Global & Engineering Revenue by Field ・・・・・・・・25
  • List of recent major releases ・ ・・・・・・・・・・・・・・・・・・・・・・・・・26

Notes

  • The numerical targets and forecasts presented in this document reflect the judgment of our company based on information currently available and involve potential risks and uncertainties. Therefore, the reader should note that actual business performance may differ significantly from the projections made herein due to changes in various factors.
  • Air Water Inc.'s financial statements are prepared in accordance with "IFRS"(International Financial Reporting Standards).

© AIR WATER INC | 2

First Quarter Financial Results

for Fiscal Year 2023

© AIR WATER INC | 3

Fiscal year 2023 First Quarter

Main points of the First quarter financial results

2022.1Q

2023.1Q

Increase/decrease

(Unit: Billion yen)

Amount

YoY

Revenue

224.7

230.0

+5.3

102.4%

Operating profit

13.0

11.3

▲1.7

86.7%

Profit attributable to

8.1

7.1

▲0.9

88.3%

owners of parent

■Revenue

  • Revenue grew, chiefly following the progress in the revision of prices of industrial gases, commercial salts and other products and a turnaround in the food and drink area following the recovery of the movement of people.

■Operating profit

  • Sales are affected in the areas of functional materials and other areas due to a slowdown of the semiconductor market and petrochemical market, and the contraction of COVID-19-related demand following Japan's downgrading COVID-19 to a class V infectious disease.
  • In addition, temporary factors include a shortage of materials for carbonic acid and the posting of upfront expenses for mergers and acquisitions in the industrial gas sector in the United States. Due to the effect of these temporary factors, profit decreased.

© AIR WATER INC | 4

Fiscal year 2023 First Quarter

Consolidated income statement

2022.1Q

2023.1Q

Increase/decrease

(Unit: Billion yen)

Amount

YoY

Revenue

224.7

230.0

＋5.3

102.4％

Cost of sales

▲177.1

▲182.2

▲5.1

Gross profit

47.6

47.9

＋0.2

100.5％

Selling, general and administrative expenses

▲35.9

▲37.7

▲1.8

Other operating income and expenses

0.6

0.6

▲0.0

Share of profit of investments accounted for using the

0.6

0.5

▲0.1

equity method

Operating profit

13.0

11.3

▲1.7

86.7％

Finance income and costs

▲0.3

0.2

＋0.5

Quarterly profit before income taxes

12.7

11.5

▲1.2

90.7％

Income taxes

▲4.2

▲4.1

＋0.1

Quarterly loss from discontinued operations

▲0.0

▲0.0

▲0.0

Quarterly profit

8.5

7.4

▲1.1

87.0％

Owners of parent

8.1

7.1

▲0.9

88.3％

Non-controlling interests

0.4

0.2

▲0.1

÷"Equity attributable to owners of the parent" (The average between

Operating profit margin

5.8%

4.9%

*1 "Profit for the quarter attributable to owners of the parent"

ROE *1

2.0%

1.6%

the beginning and the end of the quarter)

*2 Basic earnings per share for the quarter are calculated based on

Basic net earnings per share for the quarter *2

35.69 yen

31.39 yen

the average number of issued shares during the period.

© AIR WATER INC | 5

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AIR WATER Inc. published this content on 03 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2023 07:00:09 UTC.