Shoei : Consolidated Financial Results for the 1Q 2023

Ｊan. 27, 2023

SHOEI CO., LTD.

Consolidated Financial Results

for the First Quarter of the Fiscal Year Ending September 30, 2023

Name of Registrant	SHOEI CO., LTD.
Code No:	7839
Securities Traded	Tokyo Stock Exchange, Prime Market
Headquarters	Tokyo, Japan
(URLhttps://www.shoei.com/)
Representative:	Kenichiro Ishida, President and Representative Director
Contact:	Hiroshi Yamaguchi, Director and General Manager of
	Business & Financial Management Headquarters
	INDEX

Ⅰ．Financial Summary Ⅱ．Consolidated Forecasts

for The Fiscal Year Ending September 30, 2023 Ⅲ．Consolidated Financial Statementｓ

- 1 -

Ⅰ．Financial Summary 1) Operating Performance

		Millions of Yen
	Oct.21-Dec.21		Oct.22-Dec.22% Changes
Net Sales	7,350		8,117		10.4
Operating Income	2,204	2,581		17.1
Ordinary Income	2,230	2,444		9.6
Profit attributable to owners of parent	1,562	1,712		9.6
	Yen
Per Share Amounts
Net Income	58.25	63.83
Net Income, Diluted	－		－
Notes:
1.Earnings (Losses) of Affiliates in Equity Method:
	Millions of Yen
	Oct.21-Dec.21		Oct.22-Dec.22
	－		－

2.Average Number of Shares Outstanding During The Period (Consolidated): Shares

Oct.21-Dec.21Oct.22-Dec.22

26,817,839 26,830,857

3.Number of Treasury Stocks as of December 31, 2022:

26,032

4.Change of Accounting Method: Not Applicable.

5.Percentages of net sales, operating income, ordinary income and net income show changes from those in the corresponding period of the previous year.

6.Amounts Less than 1million are omitted.

7.The net income per share is calculated using the weighted average number of shares (excluding treasury stock)during the period.

- 2 -

2) Financial Position

Millions of Yen

	Sep.30,22	Dec.31,22
Total Assets	29,428		26,489
Net Assets	22,895		21,615
	Percentage
Shareholers' equity ratio	77.7%		81.5%
	Yen
Net Assets per Share	852.65		805.64

Notes:

1.Number of Shares Outstanding on September 30, 2022 and Dec 31, 2022 (Consolidated):

	Shares
	Sep.30,22		Dec.31,22
26,856,858	26,856,858
3) Scope of Consolidation
Number of Consolidated Subsidiaries	8
Number of Non-Consolidated Subsidiaries
in Equity Method	0
Number of Affiliates in Equity Method	0
4) Change in Consolidation During the Period
Number of Newly Consolidated Subsidiaries	0
Number of Companies Excluded
from Consolidation	0
Number of Subsidiaries and Affiliates
Newly Consolidated in Equity Method	0
Number of Companies Excluded from
Consolidation in Equity Method	0

Ⅱ．Consolidated Forecasts

for The Fiscal Year Ending September 30, 2023

		Millions of Yen
		Oct.22-Sep.23
Net Sales	31,690
Operating Income	8,780
Ordinary Income	8,780
Net Income	6,260
		Yen
Net Income Per Share	233.31
	- 3 -

Ⅲ．Consolidated	Financial Statements
Consolidated Statements of Income
						(Thousands of yen)
					Three months ended	Three months ended
					December 31, 2021	December 31, 2022
Net sales					7,350,107	8,117,312
Cost of sales				4,069,535	4,372,447
Gross profit				3,280,571	3,744,864
Selling, general and administrative expenses	1,076,323	1,163,851
Operating profit				2,204,247	2,581,013
Non-operating income
Interest income				36	28
Foreign exchange gains				24,544	-
Insurance claim income				241	-
Subsidy income				-	105
Patent Settlement				-	11,364
Other					2,718	2,257
Total non-operating income			27,540	13,755
Non-operating expenses
Interest expenses				1,564	1,789
Foreign exchange losses				-	147,835
Other					103	709
Total non-operating expenses	1,668	150,334
Ordinary profit				2,230,120	2,444,434
Extraordinary income
Gain on sale of non-current assets	31	134
Total extraordinary income			31	134
Profit before income taxes				2,230,152	2,444,569
Income taxes - current				581,841	753,389
Income taxes - deferred				86,238	-21,443
Total income taxes				668,079	731,945
Profit					1,562,072	1,712,624
Profit	attributable	to	non-controlling	-	-
interests
Profit attributable to owners of parent		1,562,072	1,712,624

－ 4 －

Consolidated Statements of Comprehensive Income

	(Thousands of yen)
Three months ended	Three months ended
December 31, 2021	December 31, 2022

Profit

Other comprehensive income Deferred gains or losses on hedges Foreign currency translation adjustment Remeasurements of defined benefit plans, net of tax

Total other comprehensive income

Comprehensive income

Comprehensive income attributable to Comprehensive income attributable to owners of parent

Quarterly comprehensive income for non- controlling interests

1,562,072	1,712,624
-11,518	-
-50,564	3,088
8,923	7,545
-53,159	10,633
1,508,913	1,723,257

1,508,9131,722,983

-

274

－ 5 －