Tokyo Stock Exchange (TSE): 6264

Note: This document has been translated from the

Japanese original for reference purposes only. In the event

of any discrepancy between this translated document and

the Japanese original, the original shall prevail.

MARUMAE CO., LTD.

Summary of Q3 FY2022 Financial Results

June 30, 2022

TECHNOLOGY FOR THE FUTURE

Manufacturer of vacuum components for semiconductor and FPD production equipment

Marumae Co., Ltd. All Rights Reserved

1. Overview of Financial Results

P/L Analysis

P/L

Third Quarter of

Third Quarter of

the Fiscal Year

the Fiscal Year

Ended August 31, 2021

Ending August 31, 2022

Amount

Ratio

Amount

Ratio

YoY change ratio

(million yen)

(%)

(million yen)

(%)

(%)

Point

1. Status of orders received*

Semiconductor sector: 5,288 million yen (59.2% YoY increase)

Orders received*

Balance of orders received*

Net sales*

Cost of sales*

Gross profit

Selling and administrative expenses

Operating profit

Ordinary profit

Extraordinary loss (income)

Profit

EPS (yen)

4,273

ー

7,218

ー

68.9

1,538

ー

3,054

ー

98.6

3,615

100.0

6,097

100.0

68.6

2,406

66.5

3,780

62.0

57.1

1,209

33.5

2,317

38.0

91.6

433

12.0

574

9.4

32.7

776

21.5

1,742

28.6

124.4

772

21.4

1,744

28.6

125.8

18

0.5

2

0.0

(87.5)

556

15.4

1,248

20.6

124.5

43.43

ー

97.67

ー

FPD sector: 1,275 million yen (64.0% YoY increase)

Other sectors: 654 million yen (275.3% YoY increase)

2. Net sales*

68.6% YoY increase

*The details for each sector are listed on the next page.

3. Cost of sales*

Material costs*: 487 million yen increase (89.0% YoY increase)

Outsourcing expenses: 489 million yen increase (108.4% YoY increase)

Labor costs: 348 million yen increase (44.6% YoY increase)

Depreciation: 87 million yen increase (20.7% YoY increase)

4. Selling and administrative expenses

Research and development expenses: 71 million yen increase

Personnel expenses: 28 million yen increase

*Orders received and balance of orders received for the third quarter of the fiscal year ending August 31, 2022, include materials supplied at cost. The changes in percent from the same period of the

previous fiscal year in net sales, cost of sales, and material costs for the said third quarter are calculated based on the actual results for the same quarter of the previous fiscal year before the

application of the "Accounting Standard for Revenue Recognition." The same manner of calculation is used on the following pages.

Marumae Co., Ltd. All Rights Reserved

-2-

1. Overview of Financial Results

Trends in Quarterly Business Results

(Unit:

Sales/cutting (semiconductor)

Sales/cutting (FPD)

Sales/cutting (other)

Fiscal Year Ending August 2022

million yen)

Other sales

Gross profit

Operating profit

2,000

Ordinary profit

Profit

139

1,800

63

411

395

1,600

386

370

1,400

1,552

1,542

1,444

58

1,200

1,299

76

175

277

1,000

198

251

164

111

1,050

276

977

800

884

904

893

773

102

831

263

766

600

707

572

648

573

400

411

200

0

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

Point

FY2019

FY2020

FY2021

FY2022

1. Record sales due to sales for solar cell production equipment

Other sectors: 212 million yen (38.5% YoY increase)

Semiconductor sector: 4,538 million yen (55.4% YoY increase)

  • Record highs continue due to a favorable semiconductor market environment.

FPD sector: 1,177 million yen (160.8% YoY increase)

  • Maintaining high levels due to improved market and higher market share.
  • Increase in orders received for solar cell production equipment components.

2. Profits declined slightly due to a marginal rise in SG&A expenses.

  • Profit decreased slightly in 3Q due to increases in commission and advertising expenses.
  • Profit: 1,248 million yen (124.5% YoY increase)

*This graph shows quarterly figures, but the numbers in the comments for each point are those for the fiscal year under review.

Marumae Co., Ltd. All Rights Reserved

-3-

1. Overview of Financial Results

B/S Analysis

B/S

Fiscal year ended

Fiscal year ending

Point

1. Assets: 11,918 million yen (2,176 million yen increase from the end

(Unit: million yen)

Aug 2021

Aug 2022

End of Fiscal Year

End of Q3

of the previous fiscal year)

• Property, plant and equipment: 635 million yen increase

4,813

6,337

Current assets

•

Trade receivables: 619 million yen increase

Cash & deposits

2,505

3,037

2. Liabilities: 5,188 million yen (1,772 million yen increase from the

end of the previous fiscal year)

Trade receivables

•

Long-term borrowings: 880 million yen increase

•

Advances received: 524 million yen increase

(Notes receivable - trade,

1,685

2,305

3. Net assets: 6,730 million yen (403 million yen increase from the end

accounts receivable - trade, and

electronically recorded monetary

of the previous fiscal year)

claims - operating)

• Retained earnings: 787 million yen increase

Inventories

597

965

• Decrease of 396 million yen due to purchases of treasury shares, etc.

4,929

5,581

• Equity ratio: 64.9% → 56.5%

Non-current assets

(Unit:

Fiscal Year

Long-term borrowings

million yen)

Ending

Buildings & land

2,358

2,389

Current portion of long-term borrowings

3,500

Aug 2022

Machinery & equipment

2,273

2,708

3,000

552

559

Current liabilities

1,452

2,323

484

2,500

379

Interest-bearing liabilities

427

559

429

(short-term)*

2,000

389

389

389

427

Non-current liabilities

1,963

2,864

1,500

Long-term borrowings

1,923

2,804

2,853

2,804

1,000

2,262

2,028

2,343

3,415

5,188

1,970

1,873

1,923

Total liabilities

1,775

Total net assets

6,327

6,730

500

Total assets

9,742

11,918

0

Term-end

Term-end

1Q

2Q

3Q

4Q

1Q

2Q

3Q

FY

FY

*Interest-bearing liabilities (short-term):Short-term borrowings + current portion of long-term borrowings

FY2021

FY2022

2019

2020

Marumae Co., Ltd. All Rights Reserved

-4-

2. Business Environment

Future Environment and Policies by Sales Sector

Semiconductor

FPD

Others

  • Demand for equipment remains high, but parts shortages at customer- manufacturers continue.
  • Growing demand for memory, but production expansion is unable to keep pace, and production is expected to be tight.
  • Continue capital investment and recruiting to resolve capacity shortage.
  • G6 OLED is doing well while LCD stagnates. G8 OLED mass production planned for the next fiscal year.
  • G10.5 LCD expected to stagnate until next year.
  • Tight production capacity continues due to market share expansion, so we are rushing to make capital investment.
  • Expanding trend for solar cell production equipment and strong outlook for next fiscal year.
  • Multiple orders expected, but production capacity is tight.
  • Partial outsourcing and additional capital investment to handle orders.

Marumae Co., Ltd. All Rights Reserved

-5-

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Marumae Co. Ltd. published this content on 13 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2022 06:13:04 UTC.