Iseki : Consolidated Financial Results for the Year Ended December 31, 2022

Consolidated Financial Results

for the Year Ended December 31, 2022

[Japanese GAAP]

February 14, 2023

Company name: ISEKI&CO., LTD.
Stock exchange listing: Tokyo
Code number: 6310
URL: https://www.iseki.co.jp
Representative: Shiro Tomiyasu	,President and Representative Director
Contact: Yoshikazu Ogusu	,General Manager of Financial Department
Phone: [phone]

Scheduled date of Annual General Meeting of Shareholders: March 30, 2023

Scheduled date of commencing dividend payments: March 31, 2023

Scheduled date of filing annual securities report: March 31, 2023

Availability of supplementary briefing material on annual financial results: Yes

Schedule of annual financial results briefing session: Yes

(Amounts of less than one million yen are rounded down)

1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2022 (January 01, 2022 to December 31, 2022)

(1) Consolidated Operating Results

(% indicates changes from the previous corresponding period.)

		Net sales		Operating profit
Fiscal year ended		Million yen		%	Million yen		%
December 31, 2022		166,629		5.3	3,534		(14.8)
December 31, 2021		158,192		6.0	4,147		99.0
(Note) Comprehensive income:	Fiscal year ended December 31, 2022:	¥
		Fiscal year ended December 31, 2021:	¥

Ordinary profit		Profit attributable to
	owners of parent
Million yen
%		Million yen	%
3,762	(19.7)		4,119	28.9
4,687	175.3		3,196	-
3,975 million	[	(3.8) %]
4,131 million	[	-%]

	Basic earnings per	Diluted earnings per	Rate of return on	Ordinary profit to
	share	share	equity	total assets ratio
				%
Fiscal year ended	Yen	Yen	%
December 31, 2022	182.14	182.08	6.2	1.9
December 31, 2021	141.40	141.31	5.1	2.5

(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended December 31, 2022:	¥
Fiscal year ended December 31, 2021:	¥
(2) Consolidated Financial Position

Operating profit to

net sales ratio

%

2.1

2.6

1. million

1. million

	Total assets	Net assets	Capital adequacy ratio	Net assets per share
As of	Million yen		Million yen	%	Yen
December 31, 2022	206,491		72,345	32.9	3,006.74
December 31, 2021	187,684		66,561	34.5	2,864.47
(Reference) Equity: As of	December 31, 2022:	¥	68,002 million
As of	December 31, 2021:	¥	64,768 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	Million yen		Million yen	Million yen	Million yen
December 31, 2022	(3,375)		(2,984)	2,033	10,699
December 31, 2021	14,233		(2,039)	(8,338)	14,800

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2. Dividends

		Annual dividends			Total	Payout	Dividends
				to net
							ratio
							dividends	assets
	1st	2nd	3rd		Year-end	Total
		(consolidated)
	quarter-end	quarter-end	quarter-end			(consolidated)
Fiscal year ended	Yen	Yen	Yen		Yen	Yen	Million yen	%	%
December 31, 2021	-	-	-		30.00	30.00	678	21.2	1.1
December 31, 2022	-	-	-		30.00	30.00	686	16.5	1.0
Fiscal year ending
December 31, 2023	-	-	-		30.00	30.00		26.1
(Forecast)

(Note) Breakdown of the year-end dividend for the fiscal year ended December 31, 2022 :

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2023 (January 01, 2023 to December 31, 2023) (% indicates changes from the previous corresponding period.)

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Basic earnings per
		owners of parent	share
	Million yen		%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	176,500		5.9	4,500	27.3	4,000	6.3	2,600	(36.9)	114.97

* Notes:

1. Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No

New	-	(Company name:	)
Exclusion:	-	(Company name:	)

1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
2. 1. Changes in accounting policies due to the revision of accounting standards: Yes
   2. Changes in accounting policies other than 1) above: No
   3. Changes in accounting estimates: Yes
   4. Retrospective restatement: No
3. Total number of issued shares (common shares)
4. 1. Total number of issued shares at the end of the period (including treasury shares):

December 31, 2022:	22,984,993	shares
December 31, 2021:	22,984,993	shares
2) Total number of treasury shares at the end of the period:
December 31, 2022:	368,346	shares
December 31, 2021:	374,045	shares

3) Average number of shares during the period:
Fiscal Year ended December 31, 2022:	22,615,516	shares
Fiscal Year ended December 31, 2021:	22,608,354	shares

• The total number of treasury shares at the end of the period includes the Company's shares held by the "Board Benefit Trust" (255,800 shares for the period ended December 31, 2022). In addition, the Company's shares held by the "Board Benefit Trust" are included in the number of treasury shares deducted for the calculation of the average number of shares during the period.

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(Reference) Summary of Non-consolidated Financial Results

1. Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2022 (January 01, 2022 to December 31, 2022)

(1) Non-consolidated Operating Results				(% indicates changes from the previous corresponding period.)
	Net sales		Operating profit		Ordinary profit	Net income
									Million yen
Fiscal year ended	Million yen		%		Million yen		%		%	Million yen	%
December 31, 2022	97,467		6.2		(839)		-		1,277	(66.6)	(160)	-
December 31, 2021	91,792		15.8		854		-		3,825	-	2,924	-
	Basic earnings per share	Diluted earnings per share
Fiscal year ended			Yen			Yen
December 31, 2022		(7.08)		-
December 31, 2021		129.37			129.29
(2) Non-consolidated Financial Position
	Total assets		Net assets		Capital adequacy ratio	Net assets per share
As of		Million yen			Million yen			%		Yen
December 31, 2022		130,297			47,157			36.2		2,084.52
December 31, 2021		118,536			47,766			40.3		2,111.34
(Reference) Equity: As of	December 31, 2022:	¥		47,144 million
As of	December 31, 2021:	¥		47,739 million

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Consolidated Financial Statements

Consolidated Balance Sheets

(Million yen)

As of December 31,2021

As of December 31,2022

Assets

Current assets

Cash and deposits

Notes and accounts receivable - trade

Notes and accounts receivable - trade, and contract assets

Merchandise and finished goods

Work in process

Raw materials and supplies

Other

Allowance for doubtful accounts

Total current assets

Non-current assets

Property, plant and equipment

Buildings and structures, net

Machinery, equipment and vehicles, net

Tools, furniture and fixtures, net

Land

Leased assets, net

Construction in progress

Other, net

Total property, plant and equipment

Intangible assets

Investments and other assets

Investment securities

Long-term loans receivable

Deferred tax assets

Retirement benefit asset

Other

Allowance for doubtful accounts

Total investments and other assets

Total non-current assets

Total assets

14,850	10,749
21,537	-
-	27,574
41,532	53,562
7,089	10,335
1,250	1,434
4,864	5,792
(21)	(33)
91,103	109,414
25,645	26,271
6,790	5,697
2,406	1,880
44,475	44,744
5,001	3,938
616	1,304
26	81
84,962	83,919
2,290	2,309
5,054	5,686
37	32
1,714	1,996
828	356
1,804	3,431
(110)	(654)
9,328	10,848
96,581	97,076
187,684	206,491

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(Million yen)

As of December 31,2021

As of December 31,2022

Liabilities

Current liabilities

Notes and accounts payable - trade Electronically recorded obligations - operating Short-term loans payable

Current portion of long-term loans payable Lease obligations

Accrued consumption taxes

Income taxes payable

Accrued expenses

Provision for bonuses

Other

Total current liabilities

Non-current liabilities

Long-term loans payable

Lease obligations

Deferred tax liabilities

Deferred tax liabilities for land revaluation Provision for retirement benefits for directors Provision for share awards for directors Retirement benefit liability

Asset retirement obligations

Other

Total non-current liabilities

Total liabilities

Net assets

Shareholders' equity

Share capital

Capital surplus

Retained earnings

Treasury shares

Total shareholders' equity

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

Deferred gains or losses on hedges

Revaluation reserve for land

Foreign currency translation adjustment Remeasurements of defined benefit plans

20,280	19,457
18,999	26,042
23,745	26,754
6,465	13,537
1,735	1,653
724	417
496	588
4,456	5,310
524	566
3,915	3,859
81,342	98,189
24,728	20,811
5,503	5,430
28	32
4,097	4,097
156	163
-	18
2,912	3,244
881	908
1,472	1,249
39,780	35,956
121,123	134,146
23,344	23,344
13,462	13,139
17,690	21,131
(930)	(591)
53,567	57,023
250	482
2	8
8,835	8,835
804	1,142
1,307	510

Total accumulated other comprehensive income	11,201	10,978
Subscription rights to shares	26	12
Non-controlling interests	1,766	4,330
Total net assets	66,561	72,345
Total liabilities and net assets	187,684	206,491

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