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.

November 8, 2022

Summary of Financial Statements for the Six Months Ended September 30, 2022

(Japanese GAAP) (Consolidated)

Name of listed company:

SINFONIA TECHNOLOGY CO., LTD.

Exchange for listed company: Tokyo Stock Exchange

Securities Code:

6507

URL:

https://www.sinfo-t.jp/eng/index_a.htm

Representative

Shinichi Hirano, Representative Director and President

(Rounded down to the nearest million yen)

1. Consolidated financial results for the six months ended September 30, 2022 (April 1, 2022 to September 30, 2022)

(1) Consolidated operating results (cumulative)

(Percentage (%) indicates the rate of year-over-year increase or decrease)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Six months ended

Millions of yen

% Millions of yen

%

Millions of yen

%

Millions of yen

%

September 30, 2022

49,054

22.7

3,709

129.7

4,360

160.7

3,047

174.8

September 30, 2021

39,992

0.5

1,614

3.0

1,672

14.6

1,109

(11.8)

Note: Comprehensive income

Six months ended September 30, 2022

¥2,807 million

150.0 %

Six months ended September 30, 2021

¥1,123million

(46.2)%

Profit per share

Diluted profit per share

Six months ended

Yen

Yen

September 30, 2022

108.11

-

September 30, 2021

38.10

-

(2) Consolidated financial position

Total assets

Net assets

Equity capital ratio

As of

Millions of yen

Millions of yen

%

September 30, 2022

118,913

55,488

46.7

March 31, 2022

116,801

54,090

46.3

(Reference) Equity capital

As of September 30, 2022

¥55,488 million

As of March 31, 2022

¥54,090 million

2. Cash dividends

Annual dividends per share

End of

End of

End of

End of

Total

first quarter

second quarter

third quarter

period

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 2022

-

0.00

-

50.00

50.00

Fiscal year ending March 2023

-

0.00

Fiscal year ending March 2023 (Forecast)

-

60.00

60.00

Note: Revisions to the most recently announced dividend forecast: Yes

3. Consolidated operating results forecast for fiscal year ending March 2023(April 1, 2022 to March 31, 2023)

(Percentage (%) indicates the rate of year-over-year increase or decrease)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Profit per share

owners of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

Full year

105,000

11.0

9,500

26.4

26.6

6,700

19.8

237.66

10,000

Note: Revisions to the most recently announced consolidated operating results forecast: Yes

- 1 -

*Notes

(1)

Transfer of key subsidiaries during the six months ended September 30, 2022

None

(transfer of specific subsidiaries that involve any changes in the scope of consolidation):

(2)

Application of special accounting methods for preparing quarterly consolidated financial statements:

No

(3)

Changes in accounting policies, changes in accounting estimates, and/or restatements

(i)

Changes in accounting policies associated with any amendments in accounting standards, etc.

No

(ii)

Other changes in accounting policies:

No

(iii) Changes in accounting estimates:

No

(iv) Restatements:

No

(4) Number of issued shares (common shares)

a Number of issued shares at the end of the period (including treasury shares)

As of September 30, 2022

29,789,122 shares

As of March 31, 2022

29,789,122 shares

  • Number of treasury shares at the end of the period

As of September 30, 2022

1,593,458 shares

As of March 31, 2022

1,600,948 shares

c Average number of shares during the period (cumulative from the beginning of the fiscal year)

Six months ended September 30, 2022

28,191,367 shares

Six months ended September 30, 2021

29,115,862 shares

Note: Number of treasury shares at the end of the period includes Sinfonia Technology's shares held by the Board Benefit Trust (BBT) (167,500 shares in six months ended September 2022 and 175,200 shares in fiscal year ended March 2022). Sinfonia Technology's shares held by the Board Benefit Trust (BBT) are included in the treasury shares deducted in the calculation of the average number of shares during the period (171,900 shares in six months ended September 2022 and 176,400 shares in six months ended September 2021).

*Summary of Financial Statements is not subject to the audit of a certified public accountant or an auditing firm.

*Explanation of proper use of financial results forecast and other special notes

The financial results forecast is based on information available as of the date of the announcement of this document. The actual results may differ from this forecast due to different future factors.

- 2 -

Quarterly consolidated financial statements

Quarterly consolidated balance sheets

(Unit: Millions of yen)

As of March 31, 2022

As of September 30, 2022

Assets

Current assets

Cash and deposits

8,734

7,846

Notes and accounts receivable - trade, and contract assets

34,844

33,105

Merchandise and finished goods

2,053

2,278

Work in process

10,336

12,954

Raw materials and supplies

11,187

12,950

Other

689

688

Allowance for doubtful accounts

(43)

(117)

Total current assets

67,803

69,706

Non-current assets

Property, plant and equipment

Buildings and structures, net

10,973

11,014

Land

14,573

14,626

Other, net

4,810

6,056

Total property, plant and equipment

30,356

31,697

Intangible assets

2,015

1,687

Investments and other assets

Investment securities

11,015

10,185

Other

5,770

5,947

Allowance for doubtful accounts

(159)

(310)

Total investments and other assets

16,626

15,822

Total non-current assets

48,998

49,206

Total assets

116,801

118,913

- 3 -

(Unit: Millions of yen)

As of March 31, 2022

As of September 30, 2022

Liabilities

Current liabilities

Notes and accounts payable - trade

22,894

19,964

Short-term borrowings

7,170

9,473

Current portion of long-term borrowings

3,335

3,144

Income taxes payable

1,794

1,291

Provision for product warranties

411

394

Provision for loss on orders received

545

603

Other

9,110

11,007

Total current liabilities

45,261

45,880

Non-current liabilities

Long-term borrowings

11,278

11,606

Provision for retirement benefits for directors

137

113

(and other officers)

Provision for share awards for directors

59

68

(and other officers)

Provision for environmental measures

3

16

Retirement benefit liability

2,779

2,852

Other

3,190

2,886

Total non-current liabilities

17,449

17,544

Total liabilities

62,710

63,424

Net assets

Shareholders' equity

Share capital

10,156

10,156

Capital surplus

452

452

Retained earnings

33,562

35,192

Treasury shares

(1,963)

(1,955)

Total shareholders' equity

42,209

43,847

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

5,214

4,635

Revaluation reserve for land

3,913

3,913

Foreign currency translation adjustment

376

828

Remeasurements of defined benefit plans

2,377

2,264

Total accumulated other comprehensive income

11,881

11,641

Total net assets

54,090

55,488

Total liabilities and net assets

116,801

118,913

- 4 -

Quarterly consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Quarterly consolidated statements of income (cumulative)

(Unit: Millions of yen)

Six months ended

Six months ended

September 30, 2021

September 30, 2022

Net sales

39,992

49,054

Cost of sales

31,682

37,600

Gross profit

8,310

11,454

Selling, general and administrative expenses

6,695

7,744

Operating profit (loss)

1,614

3,709

Non-operating income

Interest and dividend income

135

206

Foreign exchange gains

3

544

Transfer of rights income

99

-

Other

102

73

Total non-operating income

340

823

Non-operating expenses

Interest expenses

72

68

Other

210

104

Total non-operating expenses

282

173

Ordinary profit (loss)

1,672

4,360

Profit (loss) before income taxes

1,672

4,360

Income taxes

562

1,312

Profit (loss)

1,109

3,047

Profit (loss) attributable to owners of parent

1,109

3,047

- 5 -

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Sinfonia Technology Co. Ltd. published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2022 01:00:46 UTC.