ULVAC : Summary of Financial Results for FY2023.06

September 28, 2023

September 29, 2023

September 28, 2023 Yes

Yes (for domestic institutional investors and analysts)

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.

August 8, 2023

	Consolidated Financial Results for the Fiscal Year
	Ended June 30, 2023 (Under Japanese GAAP)
Company name:	ULVAC, Inc.
Listing:	Tokyo Stock Exchange
Securities code:	6728
URL:	https://www.ulvac.co.jp/en/
Representative:	Setsuo Iwashita, President and CEO
Inquiries:	Akira Umeda, Officer, General Manager of IR Department
Telephone:	[phone]

Scheduled date of ordinary general meeting of shareholders:

Scheduled date to commence dividend payments:

Scheduled date of filing annual securities report:

Preparation of supplementary material on financial results:

Holding of financial results briefing:

(Yen amounts are rounded to the nearest million, unless otherwise noted)

1. Consolidated financial results for the fiscal year ended June 30, 2023 (from July 1, 2022 to June 30, 2023)

(1) Consolidated operating results							(Percentages indicate year-on-year changes.)
		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	%
June 30, 2023	227,528		(5.7)	19,946		(33.6)		22,880	(28.9)		14,169	(29.9)
June 30, 2022	241,260		31.8	30,061		74.8		32,200	79.2		20,211	36.3
Note: Comprehensive income	For the fiscal year ended June 30, 2023:		¥15,415 million	[(47.0)%]
		For the fiscal year ended June 30, 2022:		¥29,063 million	[66.2%]
	Basic earnings	Diluted earnings	Return on equity	Ordinary profit to	Operating profit to
	per share	per share		total assets		net sales
Fiscal year ended		Yen			Yen				%		%		%
June 30, 2023		287.70		-					7.3		6.5			8.8
June 30, 2022		410.37		-					11.4		10.0			12.5
Reference: Share of profit (loss) of entities accounted for using equity method:
		For the fiscal year ended June 30, 2023:		¥2,661 million
		For the fiscal year ended June 30, 2022:		¥861 million
(2) Consolidated financial position
		Total assets		Net assets		Equity-to-asset ratio		Net assets per share
As of		Millions of yen		Millions of yen			%				Yen
June 30, 2023		353,474			204,853			56.1		4,024.72
June 30, 2022		354,304			196,484			53.3		3,837.17
Reference: Equity
As of June 30, 2023:		¥198,212 million
As of June 30, 2022:		¥188,977 million

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents at end of
	operating activities	investing activities	financing activities
	period
Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
June 30, 2023	1,011	(15,673)	(5,438)	87,317
June 30, 2022	33,931	(7,432)	(6,445)	107,106

2. Cash dividends

		Annual dividends per share		Total	Payout ratio	Dividend on
	First	Second	Third	Fiscal		dividend	equity
	Total	(Consolidated)
	quarter-end	quarter-end	quarter-end	year-end	(Annual)	(Consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Fiscal year ended	-	-	-	124.00	124.00	6,120	30.2	3.4
June 30, 2022
Fiscal year ended	-	-	-	109.00	109.00	5,379	37.9	2.8
June 30, 2023
Fiscal year ending
June 30, 2024	-	-	-	114.00	114.00		35.1
(Forecast)

3. Consolidated earnings forecasts for the fiscal year ending June 30, 2024 (from July 1, 2023 to June 30, 2024)

(Percentages indicate year-on-year changes.)

								Profit attributable to	Basic
	Net sales		Operating profit	Ordinary profit	earnings per
		owners of parent
								share
	Millions of		%	Millions of	%	Millions of	%	Millions of	%	Yen
	yen		yen	yen	yen
Six months ending	113,500		1.9	8,000	(23.6)	9,000	(23.6)	5,500	(41.1)	111.68
December 31, 2023
Fiscal year ending	245,000		7.7	23,000	15.3	24,500	7.1	16,000	12.9	324.88
June 30, 2024

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): Yes
   New inclusion: None, Exclusion: One company (ULVAC TOHOKU, Inc.)
2. Changes in accounting policies, changes in accounting estimates, and restatement
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
4. Number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2023	49,355,938 shares
As of June 30, 2022	49,355,938 shares

(ii) Number of treasury shares at the end of the period

As of June 30, 2023	107,207 shares
As of June 30, 2022	106,961 shares

(iii) Average number of shares outstanding during the period

Fiscal year ended June 30, 2023	49,248,917 shares
Fiscal year ended June 30, 2022	49,248,995 shares

[Reference] Summary of non-consolidated financial results

Non-consolidated financial results for the fiscal year ended June 30, 2023 (from July 1, 2022 to June 30, 2023)

(1) Non-consolidated operating results					(Percentages indicate year-on-year changes.)
	Net sales			Operating profit	Ordinary profit	Profit
Fiscal year ended	Millions of yen		%	Millions of yen		%	Millions of yen	%	Millions of yen	%
June 30, 2023	94,250		(13.1)	777		(93.1)	12,159	(43.7)	12,342	(33.8)
June 30, 2022	108,458		32.8	11,287		361.6	21,596	114.0	18,656	43.7
	Basic earnings		Diluted earnings
	per share		per share
Fiscal year ended	Yen			Yen
June 30, 2023	250.57			-
June 30, 2022	378.75			-
(2) Non-consolidated financial position
	Total assets			Net assets		Equity-to-asset ratio	Net assets per share
As of	Millions of yen	Millions of yen		%		Yen
June 30, 2023	231,764	133,158		57.5	2,703.44
June 30, 2022	230,448	126,352		54.8	2,565.25
Reference: Equity
As of June 30, 2023:			¥133,158 million
As of June 30, 2022:			¥126,352 million

• Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters
  The forward-looking statements, including the earnings forecasts shown in this document are based on information currently available to the Company and on certain assumptions deemed to be reasonable. As such, they do not constitute guarantees by the Company of future performance. Actual performance and other results may differ materially from these forecasts due to various factors.

ULVAC, Inc. (Securities code: 6728)

Consolidated Financial Results for the Fiscal Year Ended June 30, 2023

Consolidated financial statements

(1) Consolidated balance sheet

			(Millions of yen)
		As of June 30, 2022	As of June 30, 2023
Assets
Current assets
Cash and deposits	118,040	98,399
Notes and accounts receivable - trade, and contract	86,331	83,538
assets
Merchandise and finished goods	4,500	6,140
Work in process	29,090	36,485
Raw materials and supplies	15,849	19,335
Other	10,562	11,903
Allowance for doubtful accounts	(525)	(521)
Total current assets	263,847	255,280
Non-current assets
Property, plant and equipment
Buildings and structures	85,821	87,062
Accumulated depreciation	(58,939)	(61,146)
Buildings and structures, net	26,883	25,915
Machinery, equipment and vehicles	78,272	84,162
Accumulated depreciation	(62,537)	(63,763)
Machinery, equipment and vehicles, net	15,735	20,399
Tools, furniture and fixtures	14,682	14,840
Accumulated depreciation	(12,908)	(13,099)
Tools, furniture and fixtures, net	1,774	1,741
Land	8,360	8,245
Leased assets	5,079	5,981
Accumulated depreciation	(1,922)	(2,311)
Leased assets, net	3,157	3,670
Construction in progress	9,087	9,617
Total property, plant and equipment	64,995	69,588
Intangible assets
Leased assets	27	23
Software	1,603	1,746
Other	2,085	2,568
Total intangible assets	3,715	4,336
Investments and other assets
Investment securities	6,882	10,151
Retirement benefit asset	536	940
Deferred tax assets	6,990	6,245
Other	9,332	8,962
Allowance for doubtful accounts	(1,995)	(2,030)
Total investments and other assets	21,746	24,269
Total non-current assets	90,457	98,193
Total assets		354,304	353,474