Summary of Consolidated Financial Results

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

[Japan GAAP]

Prepared in accordance with accounting principles generally accepted in Japan

Translated from the original Japanese-language document

August 8, 2022

Daifuku Co., Ltd.

Stock exchange listing: Tokyo

Stock code: 6383

URL:www.daifuku.com/jp

Representative: Hiroshi Geshiro, President and CEO

Contact: Tetsuya Hibi, Corporate Officer, Finance and Accounting Division Manager Tel: +81-6-6472-1261

Scheduled date for filing quarterly financial report: August 9, 2022

Scheduled date of commencing dividend payment: -

Quarterly earnings supplementary materials: Yes

Quarterly earnings presentation: Yes (for institutional investors and securities analysts)

Note: Figures are rounded down to the nearest one million yen.

1. Consolidated Financial Results for the First Quarter of Fiscal 2022 (April 1, 2022 - June 30, 2022)

(1) Operating results

(Percentages indicate year-on-year changes.)

Net income

Net sales

Operating income

Ordinary income

attributable to

shareholders of the

parent company

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Fiscal 2022 Q1

130,211

8.3

10,275

(2.3)

10,541

(2.9)

5,835

(24.5)

Fiscal 2021 Q1

120,220

5.5

10,517

16.5

10,856

9.9

7,726

4.5

Note: Comprehensive income

Fiscal 2022 Q1: 12,625 million yen (7.4%)

Fiscal 2021 Q1: 13,631 million yen 153.8%

Net income

Diluted net income

per share

per share

Yen

Yen

Fiscal 2022 Q1

46.30

－

Fiscal 2021 Q1

61.32

－

1

(2) Financial position

Total assets

Net assets

Equity ratio

Million yen

Million yen

%

Fiscal 2022 Q1

503,332

296,432

58.8

Fiscal 2021

483,322

292,059

60.2

Reference: Shareholders'

equity

Fiscal 2022 Q1: 296,146 million yen

Fiscal 2021: 290,769 million yen

2. Dividends

Dividend per share

Q1-end

Q2-end

Q3-end

FY-end

Annual

Yen

Yen

Yen

Yen

Yen

Fiscal 2021

－

35.00

－

55.00

90.00

Fiscal 2022

－

Fiscal 2022

40.00

－

65.00

105.00

(forecast)

Note: Revisions to the latest dividend forecast: None

3. Consolidated Earnings Forecast for Fiscal 2022 (April 1, 2022 - March 31, 2023)

(Percentages indicate year-on-year changes.)

Net income

Net sales

Operating income

Ordinary income

attributable to

Net income

shareholders of the

per share

parent company

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Interim

275,000

13.0

24,000

18.1

25,000

21.7

17,000

22.1

134.90

Full-year

565,000

10.3

56,500

12.4

57,500

12.2

39,600

10.4

314.24

Note: Revisions to the latest consolidated earnings forecast: Yes

2

Notes:

  1. Changes in significant subsidiaries that affected the scope of consolidation during the first quarter: None
  2. Adoption of specific accounting methods for preparing the quarterly consolidated financial statements: None
  3. Changes in accounting policies, accounting estimates, and restatement
    1. Changes in accounting policies resulting from the revision of the accounting standards and other regulations: Yes
    2. Changes in accounting policies other than 1): None
    3. Changes in accounting estimates: None
    4. Restatement: None
  5. Number of shares issued (Common stock)
    1. Number of shares issued including treasury stock at the end of the period

Fiscal 2022 Q1: 126,610,077 shares

Fiscal 2021: 126,610,077 shares

  1. Number of treasury stock at the end of the period
    Fiscal 2022 Q1: 593,063 shares

Fiscal 2021: 592,870 shares

  1. Average number of shares during the period (cumulative from the beginning of the fiscal year)
    Fiscal 2022 Q1: 126,017,092 shares
    Fiscal 2021 Q1: 126,015,766 shares

Note: The number of treasury stock at the end of the period includes shares owned by the Board Benefit Trust (BBT). The number of treasury stock at the end of the first quarter of the fiscal year ending March 31, 2023 includes 106,500 shares owned by the BBT. The number of treasury stock at the end of the fiscal year ended March 31, 2022 included 106,500 shares owned by the BBT.

These quarterly consolidated financial statements are not subject to audit through the certified public accountant or an audit firm.

Disclaimer

The consolidated earnings forecast contained in this document is based on information available to management at the present time and certain assumptions judged to be rational. As such, actual sales and income may differ from this forecast due to uncertain factors present in the forecast or future changes in business circumstances.

Earnings supplementary materials are available at the TDnetand our website: www.daifuku.com/ir.

3

Consolidated Financial Statements

(1) Consolidated balance sheets

(Million yen)

FY2021

FY2022 Q1

(ended March 31, 2022)

(ended June 30, 2022)

ASSETS

Current assets:

Cash on hand and in banks

118,769

121,228

Notes receivable, accounts receivable

from completed construction contracts

208,915

208,884

and other, and contract assets

Merchandise and finished goods

7,045

7,587

Costs incurred on uncompleted

11,430

14,782

construction contracts and other

Raw materials and supplies

22,778

28,418

Other current assets

13,148

13,641

Allowance for doubtful accounts

(777)

(793)

Total current assets

381,310

393,749

Non-current assets:

Property, plant and equipment

55,215

60,097

Intangible assets

Goodwill

3,956

4,031

Other

6,764

6,663

Total intangible assets

10,720

10,694

Investments and other assets

Other

36,079

38,794

Allowance for doubtful accounts

(3)

(3)

Total investments and other assets

36,076

38,790

Total non-current assets

102,012

109,583

Total assets

483,322

503,332

LIABILITIES

Current liabilities:

Notes and accounts payable and construction contracts payable Electronically recorded obligations - operating

Short-term borrowings and current portion of long-term borrowings

48,04645,325

28,08431,249

22,44920,355

Income taxes payable

Contract liabilities

Provision for losses on construction contracts

7,252

4,808

40,682

52,394

711

480

Other current liabilities

26,419

32,933

Total current liabilities

173,645

187,549

4

(Million yen)

FY2021

FY2022 Q1

(ended March 31, 2022)

(ended June 30, 2022)

Non-current liabilities:

Long-term borrowings

3,907

3,800

Liabilities for retirement benefits

7,494

7,632

Other reserves

327

363

Other non-current liabilities

5,888

7,554

Total non-current liabilities

17,617

19,350

Total liabilities

191,263

206,900

NET ASSETS

Shareholders' equity:

Common stock

31,865

31,865

Capital surplus

20,691

20,397

Retained earnings

227,609

226,507

Treasury stock

(901)

(903)

Total shareholders' equity

279,264

277,866

Accumulated other comprehensive

income:

Net unrealized gain (loss) on securities

4,107

3,953

Deferred gain (loss) on hedges

(637)

(1,030)

Foreign currency translation adjustments

8,380

15,715

Accumulated adjustments on retirement

(344)

(358)

benefits

Total accumulated other comprehensive

11,504

18,279

income

Non-controlling interests

1,289

285

Total net assets

292,059

296,432

Total liabilities and net assets

483,322

503,332

5

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Daifuku Co. Ltd. published this content on 08 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 03:55:10 UTC.