OBIC : Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31,2023

Note: This document has been translated from a part of 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.

July 21, 2022

Consolidated Financial Results

for the First Quarter of the Fiscal Year Ending March 31, 2023

(Under Japanese GAAP)

Company name:	OBIC Co., Ltd.
Listing:	Tokyo Stock Exchange
Securities code:	4684
URL:	https://www.obic.co.jp/
Representative:	Shoichi Tachibana, President and COO
Inquiries:	Tomonori Anan, Administrator of Business Planning Office and Accounting Div.
Telephone:	[phone]

Scheduled date to file quarterly securities report:	August 5, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results briefing:	None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)

(1) Consolidated operating results								(Percentages indicate year-on-year changes.)
		Net sales				Operating profit	Ordinary profit	Profit attributable to
					owners of parent
	Millions of yen				%	Millions of yen		%	Millions of yen	%	Millions of yen	%
Three months ended		24,106		14.3	15,072			18.4	18,485	29.6	13,130	21.7
June 30, 2022
Three months ended		21,098			-		12,731			9.3	14,266	9.0	10,792	10.2
June 30, 2021
Note: Comprehensive income	Three months ended June 30, 2022:		¥10,137 million	[(23.0)%]
		Three months ended June 30, 2021:		¥13,159 million	[22.6%]
	Basic earnings			Diluted earnings
	per share				per share
			Yen			Yen
Three months ended		148.07				-
June 30, 2022
Three months ended		121.33				-
June 30, 2021

Note: OBIC Co., Ltd. (hereinafter "the Company") has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. effective from the beginning of the first quarter ended June 30, 2021. The percentages indicating year-on-year changes are not presented as the figures for net sales for the three months ended June 30, 2022, are the figures after the application of this accounting standard. The year-on-year change, when calculated under the assumption that the accounting standard, etc. had been applied in the fiscal year ended March 31, 2021, was an increase of 7.3%.

(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, 2022	320,678		292,841	91.3	3,302.30
March 31, 2022	323,927		293,567	90.6	3,310.49
Reference: Equity
As of June 30, 2022:	¥292,841 million
As of March 31, 2022:	¥293,567 million

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2. Cash dividends

		Annual dividends per share
	First	Second		Third		Fiscal		Total
	quarter-end	quarter-end		quarter-end		year-end
	Yen	Yen		Yen		Yen		Yen
Fiscal year ended	-	92.50		-		122.50	215.00
March 31, 2022
Fiscal year ending	-
March 31, 2023
Fiscal year ending		110.00		-		110.00	220.00
March 31, 2023 (Forecast)
Note: Revision to the most recently announced forecast of dividends: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

								(Percentages indicate year-on-yearchanges.)
	Net sales		Operating profit	Ordinary profit	Profit attributable to	Basic earnings per
		owners of parent	share
	Millions of		%	Millions of	%	Millions of	%	Millions of	%	Yen
	yen		yen	yen	yen
Fiscal year ending	98,500		10.1	59,600	10.1	65,600	9.0	47,000	8.0	530.01
March 31, 2023
Note: Revision to the most recently announced earnings forecasts: None

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* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
   Newly included: -
   Excluded: -
2. Application of special accounting treatments for the preparation of quarterly consolidated financial statements: None
3. Changes in accounting policies, changes in accounting estimates, and restatement
4. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
5. Number of issued shares (common shares)
6. 1. Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2022	99,600,000 shares
As of March 31, 2022	99,600,000 shares

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

As of June 30, 2022	10,922,048 shares
As of March 31, 2022	10,922,048 shares

(iii) Average number of shares outstanding during the period

Three months ended June 30, 2022	88,677,952 shares
Three months ended June 30, 2021	88,950,452 shares

• Quarterly consolidated financial statements are exempt from audit conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters
  There have been no revisions to the consolidated earnings forecasts for the full year that were announced on April 21, 2022. The above forecasts were prepared based on information currently available to the Company, and any statements herein do not constitute assurances regarding actual results by the Company. Moreover, actual business and other results may differ from the forecast due to various factors in the future. Please refer to the section of "(4) Explanation of consolidated earnings forecasts and other forward-looking statements" of "1. Qualitative information regarding financial results for the three months ended June 30, 2022" on page 3 of [Attached Material] for details.

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Quarterly consolidated financial statements

(1) Quarterly consolidated balance sheet

		(Millions of yen)
	As of March 31, 2022	As of June 30, 2022
Assets
Current assets
Cash and deposits	122,699	122,094
Notes and accounts receivable - trade, and contract	12,025	12,886
assets
Merchandise and finished goods	68	104
Work in process	233	218
Raw materials and supplies	7	6
Other	1,118	1,171
Allowance for doubtful accounts	(1)	(2)
Total current assets	136,150	136,480
Non-current assets
Property, plant and equipment
Buildings and structures, net	25,823	25,535
Land	27,636	27,636
Other, net	2,661	2,414
Total property, plant and equipment	56,121	55,587
Intangible assets
Other	154	151
Total intangible assets	154	151
Investments and other assets
Investment securities	118,570	114,271
Long-term time deposits	10,658	11,902
Other	2,274	2,286
Allowance for doubtful accounts	(2)	(0)
Total investments and other assets	131,500	128,459
Total non-current assets	187,776	184,198
Total assets	323,927	320,678

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		(Millions of yen)
	As of March 31, 2022	As of June 30, 2022
Liabilities
Current liabilities
Accounts payable - trade	3,606	3,404
Income taxes payable	8,552	5,317
Provision for bonuses	2,372	3,416
Other	6,535	7,385
Total current liabilities	21,066	19,524
Non-current liabilities
Retirement benefit liability	5,942	5,970
Asset retirement obligations	358	358
Other	2,992	1,984
Total non-current liabilities	9,293	8,312
Total liabilities	30,359	27,837
Net assets
Shareholders' equity
Share capital	19,178	19,178
Capital surplus	19,530	19,530
Retained earnings	265,985	268,253
Treasury shares	(27,562)	(27,562)
Total shareholders' equity	277,131	279,399
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	16,877	13,893
Revaluation reserve for land	(481)	(481)
Remeasurements of defined benefit plans	39	29
Total accumulated other comprehensive income	16,435	13,441
Total net assets	293,567	292,841
Total liabilities and net assets	323,927	320,678

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