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 Year Ended March 31, 2023

[Japanese GAAP]

Company name: YOTAI REFRACTORIES CO.,LTD.

Stock exchange listing: Tokyo

Code number: 5357

URL: https://www.yotai.co.jp/

Representative: Mitsuo Taguchi

Contact: Shinichiro Takebayashi

May 12, 2023

President

Managing Director, General Manager of General Affairs

Department of Head Office

Phone: +81-72-430-2100

Scheduled date of Annual General Meeting of Shareholders: June 22, 2023

Scheduled date of commencing dividend payments: June 23, 2023

Scheduled date of filing annual securities report: June 23, 2023

Availability of supplementary briefing material on annual financial results: No

Schedule of annual financial results briefing session: Yes

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

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 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

Fiscal year ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

March 31, 2023

28,250

9.0

4,012

(1.9)

4,143

0.5

2,971

0.1

March 31, 2022

25,912

10.0

4,089

40.0

4,123

36.5

2,966

60.8

(Note) Comprehensive income:

Fiscal year ended March 31, 2023:

Fiscal year ended March 31, 2022:

¥

3,350 million

[

6.2%]

¥

3,155 million

[

44.0%]

Basic earnings per

Diluted earnings per

Rate of return on

Ordinary profit to

Operating profit to

share

share

equity

total assets ratio

net sales ratio

Fiscal year ended

Yen

Yen

%

%

%

March 31, 2023

147.33

-

9.7

10.6

14.2

March 31, 2022

141.28

-

10.0

11.1

15.8

(2) Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

Net assets per share

As of

Millions of yen

Millions of yen

%

Yen

March 31, 2023

39,645

31,065

78.4

1,582.45

March 31, 2022

38,750

30,109

77.7

1,460.90

(Reference) Equity: As of

March 31, 2023:

¥

31,065 million

As of

March 31, 2022:

¥

30,109 million

(3) Consolidated Cash Flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash

equivalents at the end

operating activities

investing activities

financing activities

of period

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2023

1,781

(1,954)

(2,536)

5,841

March 31, 2022

421

(1,208)

(2,111)

8,537

2. Dividends

Annual dividends

Payout

Dividends

Total

to net

ratio

1st

2nd

3rd

Year-end

Total

dividends

assets

(consolidated)

quarter-end

quarter-end

quarter-end

(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

March 31, 2022

-

16.00

-

27.00

43.00

889

30.4

3.1

March 31, 2023

-

20.00

-

25.00

45.00

894

30.5

3.0

Fiscal year ending

March 31, 2024

-

25.00

-

25.00

50.00

32.7

(Forecast)

(Note) Breakdown of the year-end dividend for the fiscal year ended March 31, 2023 :

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Profit attributable

Basic earnings per

to owners of parent

share

Millions of

Millions of

Millions of

Millions of

Six months ending

yen

%

yen

%

yen

%

yen

%

Yen

14,500

6.9

2,050

2.6

2,100

3.0

1,500

5.3

76.41

September 30, 2023

Full year

29,000

2.7

4,100

2.2

4,200

1.4

3,000

1.0

152.82

* Notes:

  1. Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
  2. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: No
    2. Changes in accounting policies other than 1) above: No
    3. Changes in accounting estimates: No
    4. Retrospective restatement: No
  4. Total number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares):

March 31, 2023:

25,587,421

shares

March 31, 2022:

25,587,421

shares

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

March 31, 2023:

5,956,393

shares

March 31, 2022:

4,977,129

shares

3) Average number of shares outstanding during the period:

Fiscal Year ended March 31, 2023:

20,166,646

shares

Fiscal Year ended March 31, 2022:

20,999,622

shares

(Reference) Summary of Non-consolidated Financial Results

1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)

(1) Non-consolidated Operating Results

(% indicates changes from the previous corresponding period.)

Net sales

Operating profit

Ordinary profit

Net income

Fiscal year ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

March 31, 2023

28,250

9.0

3,681

(2.7)

3,806

(0.2)

2,781

3.2

March 31, 2022

25,912

10.0

3,783

25.5

3,813

22.8

2,694

25.1

Basic earnings per share

Diluted earnings per share

Fiscal year ended

Yen

Yen

March 31, 2023

137.91

-

March 31, 2022

128.33

-

(2) Non-consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

Net assets per share

As of

Millions of yen

Millions of yen

%

Yen

March 31, 2023

39,675

30,990

78.1

1,578.67

March 31, 2022

39,052

30,272

77.5

1,468.81

(Reference) Equity: As of

March 31, 2023:

¥

30,990 million

As of

March 31, 2022:

¥

30,272 million

Consolidated Financial Statements

Consolidated Balance Sheets

(Thousands of yen)

As of March 31, 2022

As of March 31, 2023

Assets

Current assets

Cash and deposits

8,537,563

5,841,039

Notes and accounts receivable - trade

9,675,751

10,027,497

Contract assets

175,578

130,989

Electronically recorded monetary claims -

2,554,830

2,288,441

operating

Finished goods

3,960,175

4,992,441

Work in process

280,783

373,982

Raw materials and supplies

4,772,665

6,077,541

Other

327,940

209,798

Allowance for doubtful accounts

(2,894)

(4,569)

Total current assets

30,282,393

29,937,162

Non-current assets

Property, plant and equipment

Buildings and structures, net

1,975,511

2,467,072

Machinery, equipment and vehicles, net

1,518,184

1,829,510

Land

1,410,155

1,423,028

Construction in progress

589,370

224,676

Other, net

345,746

612,356

Total property, plant and equipment

5,838,968

6,556,643

Intangible assets

71,284

147,475

Investments and other assets

Investment securities

2,279,417

2,748,304

Deferred tax assets

191,462

104,789

Other

103,894

170,157

Allowance for doubtful accounts

(16,986)

(18,920)

Total investments and other assets

2,557,789

3,004,330

Total non-current assets

8,468,042

9,708,450

Total assets

38,750,436

39,645,612

(Thousands of yen)

As of March 31, 2022

As of March 31, 2023

Liabilities

Current liabilities

Accounts payable - trade

2,387,340

2,125,440

Electronically recorded obligations - operating

2,104,994

2,334,805

Accounts payable - other

567,256

189,530

Accrued expenses

1,302,073

1,365,759

Income taxes payable

724,299

601,201

Provision for bonuses for directors (and other

35,600

34,800

officers)

Other

114,496

269,055

Total current liabilities

7,236,062

6,920,591

Non-current liabilities

Retirement benefit liability

1,381,292

1,440,736

Other

23,580

219,118

Total non-current liabilities

1,404,872

1,659,855

Total liabilities

8,640,935

8,580,446

Net assets

Shareholders' equity

Share capital

2,654,519

2,654,519

Capital surplus

1,762,031

1,802,929

Retained earnings

26,994,021

29,005,082

Treasury shares

(2,319,009)

(3,795,179)

Total shareholders' equity

29,091,563

29,667,352

Accumulated other comprehensive income

Valuation difference on available-for-sale

757,432

1,098,572

securities

Deferred gains or losses on hedges

468

(8,120)

Foreign currency translation adjustment

285,705

345,417

Remeasurements of defined benefit plans

(25,668)

(38,056)

Total accumulated other comprehensive income

1,017,937

1,397,813

Total net assets

30,109,501

31,065,165

Total liabilities and net assets

38,750,436

39,645,612

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Yotai Refractories Co. Ltd. published this content on 05 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 June 2023 05:40:09 UTC.