Torishima Pump Mfg : Consolidated Financial Results for the 1st quarter of FY2023

RESULTS OF OPERATIONS FOR

THE FIRST QUARTER ENDED JUNE 30, 2023 (CONSOLIDATED)

Listed company name:

(Japanese GAAP)

August 10, 2023

Torishima Pump Mfg. Co., Ltd.

Stock exchange listings:

Tokyo

URL:http://www.torishima.co.jp

Code number:

6363

Representative:

Kotaro Harada, CEO

Contact person:

Ko Kaneko, General Manager of Finance & Accounting Division

Phone:

[phone]

August 10, 2023

Scheduled date of filing quarterly financial statements:

Scheduled date of starting dividend payment: -

Preparing supplementary material on quarterly financial results: Yes

Holding quarterly financial results presentation meeting:

No

Note: The amounts are rounded down to the nearest million.

1. Consolidated financial results of the first quarter ended June 30, 2023 (April 1, 2023 through June 30, 2023)

(1) Operating results

Millions of yen, except per share data

Net sales

Operating income

Ordinary income

Net income attributable

%

%

%

to owners of parent %

First quarter ended

17,331

57.0

1,211

295.8

997

162.1

846

534.6

June 30, 2023

First quarter ended

11,036

△0.5

306

-

380

274.1

133

295.2

June 30, 2022

Note: Comprehensive

income: (First quarter ended June 30, 2023) ¥ 1,795million (296.5%)

(First quarter ended June 30, 2022) ¥ 452million (220.8%)

Net income per share

Net income per share-Diluted

First quarter ended June 30, 2023

Yen

Yen

31.98

31.89

First quarter ended June 30, 2022

5.05

5.04

(2) Financial position

Millions of yen, except per equity ratio

Total assets

Net assets

Equity Ratio

%

June 30, 2023

92,805

46,314

49.5

March 31, 2023

90,075

45,523

50.1

(Reference): Shareholders' equity: (June 30, 2023) ¥ 45,924 million

(March 31, 2023) ¥ 45,106 million

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	2.	Dividends										Dividends per share
						End of 1Q			End of 2Q		End of 3Q		Fiscal year end		Annual
	FY2022				Yen			Yen			Yen			Yen		Yen
				-			22.00			-			30.00			52.00
	FY2023				-
	FY2023 (Forecast)						28.00			-			28.00			56.00
	Note1: Revision of forecast for dividend		during this quarter: No
					Millions of yen, except per share data
3.	Forecast for fiscal year ending March 31, 2024
				Net sales	Operating income	Ordinary income			Net income			Net income
						attributable to
																owners of parent			per share
	Annual		75,000		%	6,800	%		6,300	%			4,600	%			Yen
			16.0	14.7		10.7			4.4		172.12
	Note1: %	represents percentage	change from a comparable previous period
	Note2: Revision of forecast during this quarter: No
	Note3: Explanations for adequate utilization of the forecast, and other note
	Forecast shown above is prepared based on information available as of the issuing date of this report and
	assumptions that we consider as reasonable, and therefore the actual results may differ from these forecasted
	figures due to various unknown factors.

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Consolidated quarterly financial statement		(Millions of yen)
(1) Consolidated quarterly balance sheet
Assets	As of March 31, 2023	As of June 30, 2023
Current assets
Cash and deposits	11,879	18,354
contractNotes andassetsaccounts receivable - trade, and	32,006	25,392
Merchandise and finished goods	304	310
Work in process	11,490	11,406
Raw materials and supplies	2,511	2,665
Advance payments to suppliers	2,067	2,220
Other	1,793	2,214
Allowance for doubtful accounts	△730	△795
Total current assets	61,321	61,767
Non-current assets
Property, plant and equipment	14,631	15,565
Intangible assets	744	726
Investments and other assets
Investment securities	11,586	12,941
Other	2,745	2,724
Allowance for doubtful accounts	△955	△920
Total investments and other assets	13,377	14,745
Total non-current assets	28,753	31,037
Total assets		90,075	92,805

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Liabilities	As of March 31, 2023	As of June 30, 2023
		(Millions of yen)
Current liabilities
Notes and accounts payable - trade	12,696	12,070
Short-term borrowings	3,779	3,199
Income taxes payable	655	353
Contract liabilities	6,129	7,973
Provision for bonuses	989	511
Provision for product warranties	691	741
Provision for loss on construction contracts	650	676
Other	3,653	5,447
Total current liabilities	29,246	30,973
Non-current liabilities
Long-term borrowings	11,774	11,655
Deferred tax liabilities	1,536	1,848
(andProvisionotherforofficers)retirement benefits for directors	7	7
Retirement benefit liability	293	319
Other	1,695	1,685
Total non-current liabilities	15,306	15,517
Total liabilities	44,552	46,491
Net assets
Shareholders' equity
Share capital	1,592	1,592
Capital surplus	6,703	6,493
Retained earnings	33,871	33,916
Treasury shares	△2,000	△1,944

Total shareholders' equity

Accumulated other comprehensive income securitiesValuation difference on available-for-sale Deferred gains or losses on hedges

Foreign currency translation adjustment Remeasurements of defined benefit plans

40,167	40,057
2,857	3,785
△536	△878
2,027	2,392
591	567

Total accumulated other comprehensive income	4,938	5,866
Share acquisition rights	77	77
Non-controlling interests	339	312
Total net assets	45,523	46,314
Total liabilities and net assets		90,075	92,805

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Consolidated quarterly statement of (comprehensive) income		(Millions of yen)
Consolidated quarterly statement of income (April 1 - June 30, 2023)
		Three months ended	Three months ended
		June 30, 2022	June 30, 2023
Net sales	11,036	17,331
Cost of sales	7,987	12,448
Gross profit		3,049	4,883
Selling, general and administrative expenses		2,743	3,671
Operating profit		306	1,211
Non-operating income
Dividend income	117	106
Rental income	30	28
methodShare of profit of entities accounted for using equity		5	36
Other		40	60
Total non-operating income		193	232
Non-operating expenses
Interest expenses	22	28
Foreign exchange losses	59	390
Other	37	28
Total non-operating expenses		119	447
Ordinary profit		380	997
Extraordinary income		－	－
Gain on sale of investment securities	11
Gain on step acquisitions		238
Total extraordinary income		11	238－
Extraordinary losses		－
Loss on valuation of investment securities	19	－
Impairment losses	43
Loss on liquidation of subsidiaries		21	－
Total extraordinary losses		84
Profit before income taxes		306	1,235
Income taxes		172	375
Profit		134	859
Profit attributable to non-controlling interests		0	13
Profit attributable to owners of parent			133	846

- 5 -