Hioki E E : (Delayed) Summary of Consolidated Financial Results for the Three Months Ended March 31, 2022 (Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results

for the Three Months Ended March 31, 2022

(Based on Japanese GAAP)

Company name:HIOKI E.E. CORPORATIONStock exchange listing: Tokyo

Takahiro Okazawa
Yoshikazu Suyama
Scheduled date to file Quarterly Securities Report:	April 28, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	No

Stock code: Representative:

Inquiries:

6866 URLhttps://www.hioki.co.jp/ President

Director, Senior Managing Executive Officer, Chief Financial Officer (CFO) and Director of Administration Department

TEL [phone]

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended March 31, 2022 (from January 1, 2022 to March 31, 2022)

(1) Consolidated operating results (cumulative)

April 15, 2022

Percentages indicate year-on-year changes

Net sales	Operating profit	Ordinary profit	Profit attributable to owners of parent
Three months ended March 31, 2022 Three months ended March 31, 2021	Millions of yen 8,287 6,949	% 19.3 19.2	Millions of yen 1,833 1,397	% 31.2 78.6	Millions of yen 1,876 1,459	% 28.6 87.7	Millions of yen 1,292 1,078	% 19.9 86.6

Earnings per share	Diluted earnings per share
Three months ended March 31, 2022 Three months ended March 31, 2021	Yen 94.70 79.04	Yen - -

(2) Consolidated financial position

Total assets	Net assets	Equity ratio	Net assets per share
As of March 31, 2022 As of December 31, 2021	Millions of yen 34,090 36,391	Millions of yen 29,613 29,454	% 86.9 80.9	Yen 2,170.04 2,158.34

2. Cash dividends

Annual dividends per share
1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
Year ended December 31, 2021 Year ending December 31, 2022	Yen - -	Yen 65.00	Yen -	Yen 100.00	Yen 165.00
Year ending December 31, 2022 (Forecast)	80.00	-	80.00	160.00

3. Forecast of consolidated financial results for the year ending December 31, 2022 (from January 1, 2022 to December 31, 2022)

Percentages indicate year-on-year changes

Net sales	Operating profit	Ordinary profit	Profit attributable to owners of parent	Earnings per share
Six months ending June 30, 2022 Full year	Millions of yen 17,000 34,000	% 16.1 16.0	Millions of yen 3,570 7,010	% 13.9 21.9	Millions of yen 3,700 7,200	% 14.5 20.0	Millions of yen 2,780 5,410	% 14.3 19.7	Yen 203.71 396.43

4. Notes

• (1) Changes in significant subsidiaries during the three months ended March 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):No

• (2) Application of special accounting methods for preparing quarterly consolidated financial statements:No

• (3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No
(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2022 14,024,365 shares

As of December 31, 2021 14,024,365 shares

As of March 31, 2022

14,024,365 shares As of December 31, 2021

Number of treasury shares at the end of the period

As of March 31, 2022 377,662 shares

As of December 31, 2021 377,652 shares

As of March 31, 2022

377,662 shares As of December 31, 2021

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Three months ended March 31, 2022 13,646,703 shares

Three months ended March 31, 2021 13,638,383 shares

Three months ended March 31, 2022

13,646,703 shares Three months ended March 31, 2021

37

13,638,383 shares

Quarterly consolidated financial statements Consolidated balance sheets

(Thousands of yen)
As of December 31, 2021	As of March 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	16,017,461 3,357,039 - 1,022,058 659,497 2,691,016 316,939 (5,203)	13,229,608 - 3,767,096 1,129,958 741,465 3,029,341 327,718 (5,266)
Total current assets	24,058,808	22,219,922
Non-current assets Property, plant and equipment Buildings and structures, net Machinery, equipment and vehicles, net Tools, furniture and fixtures, net Land Construction in progress	7,245,351 292,140 754,023 1,998,862 1,488	7,144,316 312,443 798,702 1,998,862 11,846
Total property, plant and equipment	10,291,868	10,266,172
Intangible assets Software Other	356,643 22,262	351,964 6,091
Total intangible assets	378,906	358,055
Investments and other assets	1,661,476	1,246,841
Total non-current assets	12,332,250	11,871,069
Total assets	36,391,059	34,090,992

(5,266)

(Thousands of yen)
As of December 31, 2021	As of March 31, 2022
Liabilities Current liabilities Accounts payable - trade Income taxes payable Provision for bonuses Provision for bonuses for directors (and other officers) Other	835,185 1,156,614 - - 3,697,975	1,181,500 202,025 934,076 29,590 910,378
Total current liabilities	5,689,776	3,257,570
Non-current liabilities Deferred tax liabilities Retirement benefit liability Other	6,826 725,626 514,535	7,058 691,883 520,588
Total non-current liabilities	1,246,987	1,219,530
Total liabilities	6,936,764	4,477,101
Net assets Shareholders' equity Share capital Capital surplus Retained earnings Treasury shares	3,299,463 3,968,885 22,782,020 (727,495)	3,299,463 3,968,885 22,709,654 (727,573)
Total shareholders' equity	29,322,874	29,250,429
Accumulated other comprehensive income Valuation difference on available-for-sale securities Foreign currency translation adjustment Remeasurements of defined benefit plans	148,034 307,814 (324,428)	165,200 511,619 (313,358)
Total accumulated other comprehensive income	131,420	363,461
Total net assets	29,454,295	29,613,890
Total liabilities and net assets	36,391,059	34,090,992

(727,573)

(313,358)

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income

(cumulative)

Consolidated statements of income (cumulative)

(Thousands of yen)
Three months ended March 31, 2021	Three months ended March 31, 2022
Net sales Cost of sales	6,949,259 3,657,308	8,287,587 4,501,400
Gross profit	3,291,950	3,786,186
Selling, general and administrative expenses	1,894,611	1,952,826
Operating profit	1,397,338	1,833,360
Non-operating income Interest income Dividend income Rental income from buildings Foreign exchange gains Subsidy income Other	1,089 994 2,323 43,900 3,896 11,732	1,485 1,292 1,930 21,538 379 18,248
Total non-operating income	63,936	44,876
Non-operating expenses Interest expenses Other	1,972 3	1,931 2
Total non-operating expenses	1,976	1,933
Ordinary profit	1,459,299	1,876,303
Extraordinary income Gain on sale of non-current assets	2,255	1
Total extraordinary income	2,255	1
Extraordinary losses Loss on retirement of non-current assets	1,128	55
Total extraordinary losses	1,128	55
Profit before income taxes	1,460,426	1,876,250
Income taxes - current Income taxes - deferred	275,278 107,113	156,259 427,685
Total income taxes	382,391	583,945
Profit	1,078,034	1,292,304
Profit attributable to owners of parent	1,078,034	1,292,304