Torishima Pump Mfg : Consolidated Financial Results for FY2022

RESULTS OF OPERATIONS FOR

THE YEAR ENDED MARCH 31, 2023 (CONSOLIDATED)

Listed company name:

(Japanese GAAP)

May 11, 2023

Torishima Pump Mfg. Co. Ltd.

Stock exchange listings:

Tokyo

URL:https://www.torishima.co.jp/en

Code number:

6363

Representative:

Kotaro Harada, CEO

Contact person:

Ko Kaneko, General Manager of Finance & Accounting Division

Phone:

[phone]

Scheduled date of general shareholders' meeting: June 28, 2023

Scheduled date of starting dividend payment:

June 8, 2023

Scheduled date of filing financial statements:

June 28, 2023

Preparing supplementary material on financial results: Yes

Holding financial results presentation meeting: Yes (for investment analysts and institutional investors)

Note: The amounts are rounded down to the nearest million.

1. Consolidated financial results of Fiscal 2022 (April 1, 2022 to March 31, 2023)

(1) Operating results

% of change from previous year

Net sales

Operating income

Ordinary income

Net income attributable

to owners of parent

FY 2022

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

64,659

23.8

5,927

33.3

5,693

10.3

4,404

21.4

FY 2021

52,240

-

4,445

-

5,163

-

3,626

-

Note: Comprehensive income

FY2022 ¥ 5,947 million (40.3%)

FY2021

¥ 4,239 million (‐%)

Net income per

Net income per

Return on equity

Ordinary income

Operating income

share - Basic

share - Diluted

to total assets

to net sales

FY 2022

166.50

166.05

10.2

6.7

9.2

Yen

affiliates

Yen

%

FY2021

%

million

%

Reference: Equity in earnings of

FY2022

¥ 145 million

¥ 181

8.5

FY 2021

137.87

137.49

9.3

6.5

	Note: The Company has adopted the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc.
	since the beginning of the first quarter of the previous fiscal year. As the above-consolidated operating results
	follow this accounting standard, etc., the percentage change from a comparable previous period is not stated.
	(2) Financial positionTotal assets		Net assets		Equity ratio		Net assets per share
	FY 2022	Millions of yen		Millions of yen				%	Yen
		90,075		45,523				50.1	1,705.21
	FY 2021		80,015		41,272				51.1	1,549.91
	Reference: Shareholders' equity			FY2022 ¥ 45,106		million	FY2021	¥ 40,898 million

- 1 -

	(3) Cash flows		Cash flows from		Cash flows from		Cash flows from		Cash and cash
			operating activities		investing activities		financing activities		equivalents (Year-end)
	FY 2022		Millions of yen		Millions of yen		Millions of yen		Millions of yen
		1,246		△1,277		△2,190		11,730
	FY 2021		3,130		△4,849		△2,125		13,496

	2. Dividends				Dividends per share						Dividends total		Dividend		Dividends to
		1Q			2Q		3Q			Year-end			Annual				payout ratio		net assets
		End			End	End								(Annual)		(Consolidated)		(Consolidated)
	FY 2021	Yen			Yen	Yen					Yen			Yen	Millions of Yen					%					%
	-			16.00			-				26.00		42.00					1,123					30.5					2.8
	FY 2022	-			22.00			-				30.00		52.00					1,391					31.3					3.1
	FY 2023	-			28.00			-				28.00		56.00											32.2
	(Forecast)
	3. Forecast	for the Fiscal 2023 (April 1, 2023 to March 31, 2024)	% of		change from same	period last year
				Net sales					Operating income		Ordinary income		Net incomeownersattributableof parent	to	Netperincomeshare
		Millions of		%		Millions of	%		Millions of	%			Millions of		%		Yen
	Annual	yen						yen	6,800			yen	6,300			yen	4,600
	75,000		16.0						14.7					10.7					4.4		173.89
	Reference: Unconsolidated financial results of Fiscal 2022 (April 1, 2022 to March 31, 2023)
	(1) Operating results																						% of change from previous year
							Net sales					Operating income		Ordinary income		Net income
																															attributable to owners
																																	of parent
	FY 2022			Millions of yen				%		Millions of yen				%	Millions of yen		%	Millions of yen	%
						51,111			20.4				4,072		32.5		4,148	9.1		3,360		23.2
	FY 2021						42,465					-				3,073		-			3,802		-		2,727		-
				Net income per share - Basic		Net income per share - Diluted
	FY 2022													127.04								126.69
	FY 2021														Yen										Yen
													103.71								103.42
	(2) Financial	position Total assets					Net assets			Equity ratio		Net assets per share
	FY 2022						Millions of yen					Millions of yen							%						Yen
									71,828							32,744							45.5				1,234.96
	FY 2021									64,263							30,138							46.8				1,139.20
	Reference: Shareholders' equity				FY	2022 ¥ 32,667 million		FY 2021 ¥ 30,060 million

- 2 -

* These financial results are not subject to audit procedures.

* Explanations for adequate utilization of the forecast, and other note

Forecast shown above is prepared based on information available as of the issuing date of this report and assumptions that we consider as reasonable, and therefore the actual results may differ from these forecasted figures due to various unknown factors.

- 3 -

4. Consolidated financial statements		(Millions of yen)
(1) Consolidated balance sheets
Assets	As of March 31, 2022	As of March 31, 2023
Current assets
Cash and deposits	13,528	11,879
contractNotes andassetsaccounts receivable - trade, and	25,774	32,006
Merchandise and finished goods	281	304
Work in process	8,845	11,490
Raw materials and supplies	2,032	2,511
Advance payments to suppliers	1,169	2,067
Other	1,113	1,793
Allowance for doubtful accounts	△1,333	△730
Total current assets	51,411	61,321
Non-current assets
Property, plant and equipment
Buildings and structures	14,351	14,545
Accumulated depreciation	△6,012	△6,488
Buildings and structures, net	8,338	8,056
Machinery, equipment and vehicles	13,058	13,048
Accumulated depreciation	△9,984	△10,760
Machinery, equipment and vehicles, net	3,074	2,288
Tools, furniture and fixtures	3,764	4,134
Accumulated depreciation	△3,339	△3,653
Tools, furniture and fixtures, net	425	480
Land	2,393	2,394
Leased assets	2,080	2,047
Accumulated depreciation	△811	△912
Leased assets, net	1,268	1,135
Construction in progress	89	276
Total property, plant and equipment	15,589	14,631
Intangible assets	759	744
Investments and other assets
Investment securities	10,510	11,586
Long-term loans receivable	111	110
Retirement benefit asset	1,361	1,410
Deferred tax assets	118	108
Other	1,044	1,115
Allowance for doubtful accounts	△889	△955
Total investments and other assets	12,255	13,377
Total non-current assets	28,603	28,753
Total assets		80,015	90,075

- 4 -

As of March 31, 2022	As of March 31, 2023
	(Millions of yen)

Liabilities

Current liabilities

Notes and accounts payable - trade

Short-term borrowings

Income taxes payable

Contract liabilities

Provision for bonuses

Provision for product warranties

Provision for loss on construction contracts Other

Total current liabilities

Non-current liabilities

Long-term borrowings

Deferred tax liabilities

(andProvisionotherforofficers)retirement benefits for directors Retirement benefit liability

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 securitiesValuation difference on available-for-sale Deferred gains or losses on hedges Foreign currency translation adjustment Remeasurements of defined benefit plans incomeTotal accumulated other comprehensive

Share acquisition rights

Non-controlling interests

Total net assets

Total liabilities and net assets

- 5 -

10,630	12,696
4,623	3,779
569	655
2,908	6,129
986	989
923	691
546	650
3,389	3,653
24,577	29,246
10,873	11,774
6	7
1,283	1,536
264	293
1,737	1,695
14,165	15,306
38,742	44,552
1,592	1,592
7,118	6,703
30,725	33,871
△2,008	△2,000
37,428	40,167
2,342	2,857
△525	△536
929	2,027
3,470	4,938
722	591
77	77
296	339
41,272	45,523
80,015	90,075