Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Nine Months Ended July 31, 2023

[Japanese GAAP]

Company name: OHARA INC.

September 8, 2023

Stock exchange listing: Tokyo

Code number: 5218

URL: https://www.ohara-inc.co.jp

Representative: Hirokazu Saito

President Chief Executive Officer

Contact: Takashi Nakajima

Director Senior Managing Executive Officer

Phone: +81-42-772-2101

Scheduled date of filing quarterly securities report: September 8, 2023

Scheduled date of commencing dividend payments: -

Availability of supplementary briefing material on quarterly financial results: Yes

Schedule of quarterly financial results briefing session: Yes

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Nine Months Ended July 31, 2023 (November 1, 2022 to July 31, 2023)

(1) Consolidated Operating Results

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Nine months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

July 31, 2023

21,449

2.3

2,130

(4.4)

2,301

(13.7)

1,554

(1.3)

July 31, 2022

20,961

23.0

2,229

124.9

2,667

110.2

1,574

88.3

(Note) Comprehensive income:

Nine months ended July 31, 2023:

Nine months ended July 31, 2022:

¥

1,308 million

[

(69.2) %]

¥

4,250 million

[

78.0%]

Basic earnings

Diluted earnings per

per share

share

Nine months ended

Yen

Yen

July 31, 2023

63.84

-

July 31, 2022

64.66

-

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

As of

Millions of yen

Millions of yen

%

July 31, 2023

61,015

46,058

75.1

October 31, 2022

60,678

45,262

74.2

(Reference) Equity: As of

July 31, 2023:

¥

45,811 million

As of

October 31, 2022:

¥

45,024 million

2. Dividends

Annual dividends

1st

2nd

3rd

Year-end

Total

quarter-end

quarter-end

quarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended October 31, 2022

-

0.00

-

20.00

20.00

Fiscal year ending October 31, 2023

-

0.00

-

Fiscal year ending October 31, 2023

20.00

20.00

(Forecast)

(Note) Revision to the forecast for dividends

announced most

recently:

No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending October 31, 2023(November 1, 2022 to October 31, 2023)

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Basic earnings

owners of parent

per share

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

28,000

(1.1)

2,500

(16.0)

2,700

(26.3)

1,900

(10.2)

78.00

(Note) Revision to the financial results forecast announced most recently:

Yes

* Notes:

(1) Changes in significant subsidiaries during the nine months ended July 31, 2023

(changes in specified subsidiaries resulting in changes in scope of consolidation):

No

New

-

(Company name:

)

Exclusion:

-

(Company name:

)

(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:

No

  1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: Yes
    2. Changes in accounting policies other than 1) above: No
    3. Changes in accounting estimates: No
    4. Retrospective restatement: No
  3. Total number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares):

July 31, 2023:

25,450,000

shares

October 31, 2022:

25,450,000

shares

2) Number of treasury shares at the end of the period:

July 31, 2023:

1,085,507

shares

October 31, 2022:

1,098,607

shares

3) Average number of shares outstanding during the period:

Nine months ended July 31, 2023:

24,357,631

shares

Nine months ended July 31, 2022:

24,351,395

shares

Quarterly Consolidated Financial Statements

Quarterly Consolidated Balance Sheets

(Thousands of yen)

As of October 31, 2022

As of July 31, 2023

Assets

Current assets

Cash and deposits

14,459,354

13,873,141

Notes and accounts receivable - trade

7,023,184

6,768,915

Electronically recorded monetary claims -

1,839,781

1,535,146

operating

Merchandise and finished goods

2,965,614

3,490,186

Work in process

5,920,000

6,760,845

Raw materials and supplies

3,731,274

3,705,970

Other

718,274

790,040

Allowance for doubtful accounts

(22,121)

(56,454)

Total current assets

36,635,363

36,867,791

Non-current assets

Property, plant and equipment

Buildings and structures

14,917,008

14,743,766

Accumulated depreciation

(10,469,129)

(10,561,227)

Buildings and structures, net

4,447,878

4,182,539

Machinery, equipment and vehicles

18,017,152

18,214,467

Accumulated depreciation

(15,761,450)

(15,901,953)

Machinery, equipment and vehicles, net

2,255,701

2,312,513

Tools, furniture and fixtures

12,267,236

12,360,913

Accumulated depreciation

(3,333,072)

(3,372,662)

Tools, furniture and fixtures, net

8,934,164

8,988,251

Land

342,904

336,847

Right of use assets

439,320

415,343

Accumulated depreciation

(155,122)

(143,140)

Right of use assets, net

284,198

272,202

Construction in progress

303,305

515,359

Total property, plant and equipment

16,568,153

16,607,714

Intangible assets

351,221

293,862

Investments and other assets

Investment securities

6,543,057

6,650,939

Retirement benefit asset

254,004

270,927

Deferred tax assets

244,514

231,601

Other

82,157

92,731

Total investments and other assets

7,123,734

7,246,199

Total non-current assets

24,043,109

24,147,776

Total assets

60,678,472

61,015,568

1

(Thousands of yen)

As of October 31, 2022

As of July 31, 2023

Liabilities

Current liabilities

Notes and accounts payable - trade

1,935,291

1,399,413

Electronically recorded obligations - operating

625,484

766,352

Short-term borrowings

3,192,520

4,268,895

Lease liabilities

345,065

396,021

Income taxes payable

594,845

270,707

Contract liabilities

32,026

11,726

Provision for bonuses

950,252

538,809

Provision for bonuses for directors (and other

147,878

84,389

officers)

Provision for loss on litigation

-

21,700

Accounts payable - other

1,144,965

925,776

Other

526,468

712,131

Total current liabilities

9,494,800

9,395,925

Non-current liabilities

Long-term borrowings

1,546,862

1,429,688

Lease liabilities

879,093

622,393

Deferred tax liabilities

1,463,052

1,528,385

Retirement benefit liability

1,709,700

1,683,347

Provision for share awards for directors (and other

99,393

92,997

officers)

Asset retirement obligations

85,850

86,417

Other

137,630

118,274

Total non-current liabilities

5,921,582

5,561,505

Total liabilities

15,416,382

14,957,431

Net assets

Shareholders' equity

Share capital

5,855,000

5,855,000

Capital surplus

7,962,140

7,962,140

Retained earnings

26,563,833

27,629,534

Treasury shares

(1,492,577)

(1,477,050)

Total shareholders' equity

38,888,396

39,969,625

Accumulated other comprehensive income

Valuation difference on available-for-sale

1,988,971

2,141,428

securities

Foreign currency translation adjustment

5,156,468

4,648,860

Remeasurements of defined benefit plans

(1,009,356)

(948,768)

Total accumulated other comprehensive income

6,136,083

5,841,520

Non-controlling interests

237,610

246,991

Total net assets

45,262,090

46,058,137

Total liabilities and net assets

60,678,472

61,015,568

2

Quarterly Consolidated Statements of Income and Comprehensive Income

Quarterly Consolidated Statements of Income (For the nine months)

(Thousands of yen)

For the nine months

For the nine months

ended July 31, 2022

ended July 31, 2023

Net sales

20,961,014

21,449,323

Cost of sales

14,172,283

14,438,469

Gross profit

6,788,731

7,010,854

Selling, general and administrative expenses

4,559,679

4,880,370

Operating profit

2,229,052

2,130,484

Non-operating income

Interest income

26,851

69,785

Dividend income

60,079

63,239

Foreign exchange gains

206,637

30,262

Share of profit of entities accounted for using equity

62,049

4,109

method

Other

117,649

96,079

Total non-operating income

473,267

263,475

Non-operating expenses

Interest expenses

27,670

27,494

Loss on retirement of non-current assets

6,192

40,511

Provision for loss on litigation

-

21,700

Other

1,264

2,712

Total non-operating expenses

35,127

92,419

Ordinary profit

2,667,192

2,301,540

Extraordinary income

Gain on sale of investment securities

-

73,001

Total extraordinary income

-

73,001

Extraordinary losses

Employee welfare fund contributions

139,091

-

Total extraordinary losses

139,091

-

Profit before income taxes

2,528,100

2,374,542

Income taxes

837,221

771,214

Profit

1,690,878

1,603,327

Profit attributable to non-controlling interests

116,208

48,438

Profit attributable to owners of parent

1,574,670

1,554,889

3

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OHARA Inc. published this content on 08 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2023 07:05:03 UTC.