Aida Engineering : Consolidated Financial Results for the 2nd Quarter of the FY Ended March 31, 2023

(For reference purposes only)

	Consolidated Financial Results for the 2nd Quarter
	of the Fiscal Year Ended March 31, 2023 [Japanese Standard]
			November 9, 2022
			Stock exchange: Tokyo
Listed company name: AIDA ENGINEERING, LTD.
Stock code:	6118 (URL https://www.aida.co.jp/en/)
Representative:	Kimikazu Aida, Chairman & President (CEO)
Contact:	Hiromitsu Ugawa, Director, Managing Executive Officer, Division Manager, General Administration Headquarters	Tel: [phone]
Scheduled date of filing quarterly securities report:	November 9, 2022
Scheduled beginning date of dividend payment:	－
Preparation of supplemental explanatory materials:	Yes
Holding of financial results briefing:	Yes (for analysts and institutional investors)
		(Figures are rounded down to the nearest million yen)

1. Consolidated Results for 2nd Quarter of the Fiscal Year Ended March 31, 2023 (April 1, 2022 to September 30, 2022)

(1) Consolidated Financial Results

										（Percentages represent change compared to the previous period)
	Net sales			Operating income		Ordinary income		Net income attributable to
					owners of parent
	Millions of yen		%		Millions of yen	%		Millions of yen	%	Millions of yen	%
Six months ended September 30, 2022	32,164		19.5			716	(10.3)			789	(18.0)	495	(10.3)
Six months ended September 30, 2021	26,910		4.5			798	(48.3)			962	(40.6)	552	(27.6)
Note: Comprehensive income	Six months ended September 30, 2022	574	million yen	(	-68.3	%)
	Six months ended September 30, 2021	1,811	million yen	(	-23.6	%)
	Net income per share	Diluted net income per
		share
					Yen				Yen
Six months ended September 30, 2022				8.30			8.29
Six months ended September 30, 2021				9.26			9.25
(2) Consolidated Financial Position
	Total assets					Net assets		Shareholders' equity ratio	Net assets per share
			Millions of yen				Millions of yen				%		Yen
As of September 30, 2022			114,341				77,137				67.4		1,290.53
As of March 31, 2022			113,933				78,664				68.4		1,304.89
Reference: Shareholders' equity	As of September 30, 2022			77,046	million yen
	As of March 31, 2022					77,901	million yen
2. Cash Dividends
			Cash dividends per share
	1Q End	2Q End		3Q End	Year-end	Total
	Yen		Yen	Yen		Yen		Yen
Year ended March 31, 2022	―		―	―		25.00	25.00
Year ended March 31, 2023	―		―
Year ended March 31, 2023 (forecast)						－		30.00	30.00

Note: Revision of dividend forecast for this period: None

3. Forecasts of Consolidated Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)

					（Percentages represent change compared to the previous period)
	Net sales		Operating income	Ordinary income	Net income attributable	Net income per share
							to owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year ended March 31, 2023	72,000	15.3	3,400	35.7	3,500	43.9	2,300	156.6	38.53

Note: Revision of forecasts of consolidated results: Yes

4. Others

1. Changes in significant subsidiaries during the period: None
2. Application of special accounting treatment used in preparation of the quarterly consolidated financial statements: Yes
   Note: This refers to whether these above were used for preparing quarterly consolidated financial statements.
3. Changes in accounting policies, changes in accounting estimates and retrospective restatement
4. 1. Changes in accounting policies due to revisions of accounting standards: Yes
   2. Changes in accounting policies other than "1": None
   3. Changes in accounting estimates: None
   4. Retrospective 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 September 30, 2022	69,448,421	shares
	As of March 31, 2022	69,448,421	shares
2.	Total number of treasury shares at the end of the period
	As of September 30, 2022	9,747,524	shares
	As of March 31, 2022	9,748,838	shares
3.	Average number of shares outstanding during the period
	Six months ended September 30, 2022	59,700,182	shares
	Six months ended September 30, 2021	59,694,906	shares

Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.

Statement for proper use of business forecast and other special remarks:

The above forecasts and those presented in appended material are based on the information presently available. Actual results may differ from these forecasts due to changes in various factors.

TABLE OF CONTENTS

1. Consolidated Financial Statements
(1)	Consolidated Balance Sheets………………………………………………………………………	2
(2)	Consolidated Statements of Income and Comprehensive Income…………………………………	4
	Consolidated Statements of Income…………………………………………………………………	4
	Consolidated Statements of Comprehensive Income………………………………………………	5
(3)	Consolidated Statements of Cash Flows……………………………………………………………	6
(4)	Notes to Going Concern Assumption………………………………………………………………	7
(5)	Notes Regarding Remarkable Fluctuation in Shareholders' Equity…………………………………	7
(6)	Accounting Policies Adopted Specially for the Preparation of
	Quarterly Consolidated Financial Statements……………………………………………………………	7
(7)	Changes in Accounting Policies……………………………………………………………………	7

1. Segment Information……………………………………………………………………………… 7

2. Supplementary Information

Status of Orders …………………………………………………………………………………… 8

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1. Consolidated Financial Statements

(1) Consolidated Balance Sheets

		(Millions of Yen)
	As of March 31, 2022 As of September 30, 2022
Assets
Current assets
Cash on hand and at banks	35,031	30,452
Notes and accounts receivable - trade and contract assets	17,690	20,247
Electronically recorded monetary claims - operating	1,087	930
Finished goods	4,135	3,503
Work in process	13,019	16,309
Raw materials and supplies	4,420	5,217
Other current assets	3,358	4,371
Allowance for doubtful accounts	(1,040)	(1,037)
Total current assets	77,703	79,994
Fixed assets
Property, plant and equipment
Buildings and structures	25,709	26,722
Accumulated depreciation	(18,481)	(19,054)
Buildings and structures, net	7,227	7,668
Machinery and vehicles	18,849	20,440
Accumulated depreciation	(13,822)	(14,973)
Machinery and vehicles, net	5,027	5,467
Land	7,263	7,295
Construction in progress	1,437	865
Other fixed assets	3,925	4,140
Accumulated depreciation	(3,418)	(3,608)
Other fixed assets, net	506	532
Total property, plant and equipment	21,462	21,828
Intangible assets	1,179	1,343
Investments and other assets
Investment securities	10,469	8,090
Insurance reserve fund	1,891	1,822
Net defined benefit assets	820	837
Deferred tax assets	285	306
Other assets	153	151
Allowance for doubtful accounts	(32)	(32)
Total investments and other assets	13,588	11,175
Total fixed assets	36,230	34,347
Total assets	113,933	114,341

2

		(Millions of Yen)
	As of March 31, 2022 As of September 30, 2022
Liabilities
Current liabilities
Accounts payable - trade	6,137	5,860
Electronically recorded monetary obligations - operating	2,888	2,550
Short-term loans payable	1,094	569
Accounts payable - other	1,612	709
Income taxes payable	175	324
Contract liabilities	12,091	15,285
Accrued warranty costs	497	562
Accrued bonuses for employees	1,020	1,053
Accrued bonuses for directors	22	16
Provision for loss on orders received	211	167
Other current liabilities	2,398	3,244
Total current liabilities	28,150	30,344
Long-term liabilities
Long-term loans payable	1,500	1,500
Long-term accounts payable - other	924	1,020
Accrued stock payments	510	604
Net defined benefit liabilities	1,456	1,462
Asset retirement obligations	9	9
Deferred tax liabilities	2,336	1,785
Other long-term liabilities	380	477
Total long-term liabilities	7,119	6,859
Total liabilities	35,269	37,204
Net assets
Shareholders' equity
Common stock	7,831	7,831
Additional paid-in capital	12,836	13,007
Retained earnings	55,511	54,405
Treasury shares	(5,250)	(5,250)
Total shareholders' equity	70,927	69,994
Accumulated other comprehensive income
Net unrealized gains (losses) on other securities	4,815	3,247
Deferred hedge gains (losses)	(295)	(741)
Foreign currency translation adjustments	2,365	4,490
Retirement benefit plan adjustments	87	55
Total accumulated other comprehensive income	6,973	7,052
Stock options	91	91
Non-controlling interests	671	－
Total net assets	78,664	77,137
Total liabilities and net assets	113,933	114,341

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