Shoei : Consolidated Financial Results for the 2Q 2023

April 26, 2023

SHOEI CO., LTD.

Consolidated Financial Results

for the Second 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 Ⅳ．Segment Information

- 1 -

Ⅰ．Financial Summary 1) Operating Performance

		Millions of Yen
	Oct.21-Mar.22		Oct.22-Mar.23% Changes
Net Sales	13,439		15,216		13.2
Operating Income	3,944	4,923		24.8
Ordinary Income	4,018	4,893		21.8
Profit attributable to owners of parent	2,714	3,456		27.4
	Yen
Per Share Amounts
Net Income	50.60	64.41
Net Income, Diluted	－		－

Notes:

1.Earnings (Losses) of Affiliates in Equity Method:

Millions of Yen

Oct.21-Mar.22Oct.22-Mar.23

－－

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

Oct.21-Mar.22Oct.22-Mar.23

53,642,059 53,670,916

3.On April 1st, 2023, the Company conducted a two-for-one stock split of common stock. Concerning the number of shares for the previous fiscal year,

"average number of shares outstanding during the period"

have been calculated and presented as if the split was conducted at beginning of the previous fiscal year.

4.Number of Treasury Stocks as of March 31, 2023:

28,464

5.Change of Accounting Method: Not Applicable.

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

7.Amounts Less than 1million are omitted.

8.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	Mar.31,23
Total Assets	29,428		29,695
Net Assets	22,895		23,349
	Percentage
Net Assets to Total Assets	77.7%		78.6%
	Yen
Net Assets per Share	426.33		434.60

Notes:

1.Number of Shares Outstanding on September 30, 2022 and Mar 31, 2023 (Consolidated):

Shares

Sep.30,22 Mar.31,23

53,713,716 53,713,716

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	116.62

- 3 -

Ⅲ．Consolidated	Financial Statements
Consolidated Statements of Income
					(Thousands of yen)
				Six months ended	Six months ended
				March 31, 2022	March 31, 2023
Net sales				13,439,504	15,216,229
Cost of sales			7,353,643	7,948,374
Gross profit			6,085,860	7,267,855
Selling, general and administrative expenses	2,140,986	2,344,057
Operating profit			3,944,873	4,923,797
Non-operating income
Interest income			144	5,021
Foreign exchange gains			62,424	-
Subsidy income			8,907	7,640
Patent Settlement			-	11,364
Other				5,389	14,820
Total non-operating income		76,865	38,846
Non-operating expenses
Interest expenses			3,179	3,521
Foreign exchange losses			-	62,672
Other				171	2,550
Total non-operating expenses	3,351	68,744
Ordinary profit			4,018,387	4,893,899
Extraordinary income
Gain on sale of non-current assets	51	134
Total extraordinary income		51	134
Profit before income taxes			4,018,439	4,894,034
Income taxes - current			1,319,366	1,636,550
Income taxes - refund			-	650
Income taxes - deferred			-15,414	-200,082
Total income taxes			1,303,952	1,437,118
Profit				2,714,487	3,456,916
Profit	attributable	to	non-controlling	-	-
interests
Profit attributable to owners of parent	2,714,487	3,456,916

－ 4 －

Consolidated Statements of Comprehensive Income

(Thousands of yen)

Profit

Other comprehensive income

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

Six months ended	Six months ended
March 31, 2022	March 31, 2023
2,714,487	3,456,916
-12,321	-73,375
17,847	15,090
5,525	-58,285
2,720,013	3,398,630

2,720,0133,398,287

-

343

－ 5 －