チタン工業（4098） – [Delayed]Summary of Consolidated Financial Results for the Year 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 Year Ended March 31, 2022 (Based on Japanese GAAP) Company name: Titan Kogyo,Ltd. Stock exchange listing: Tokyo Stock code: 4098 Representative: Inquiries: President Director Scheduled date of ordinary general meeting of shareholders: Scheduled date to file Securities Report: Scheduled date to commence dividend payments: Preparation of supplementary material on financial results: URL http://www.titankogyo.co.jp Yasuo Inoue Atsushi Nishida June 29, 2022 June 29, 2022 June 30, 2022 Yes No May 13, 2022TEL 0836-31-4155 Holding of financial results meeting: (1) Consolidated operating results 1. Consolidated financial results for the year ended March 31, 2022 (from April 1, 2021 to March 31, 2022) (Amounts less than one million yen are rounded down)Net sales Operating profit Ordinary profit Percentages indicate year-on-year changesProfit attributable to owners of parent Year ended March 31, 2022 Year ended March 31, 2021 Millions of yen 8,149 6,284 % Millions of yen 373 (64) 29.7 (28.3)% Millions of yen 287 – (150)– % Millions of yen 265 – (178)– % – – Earnings per share Diluted earnings per share Ordinary profit/total assets Operating profit/net sales Profit attributable to owners of parent/equity Yen 88.14 (59.31)Yen – – % 4.3 (2.9) % 1.8 (1.1)% 4.6 (1.0)Total assets Net assets Equity ratio Net assets per share Millions of yen 16,372 15,704 Millions of yen 6,737 6,442 % 38.7 38.6 Yen 2,132.33 2,012.64 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Cash and cash equivalents at end of period Millions of yen 687 (149)Millions of yen (3,453)(770)Millions of yen 2,740 597 Millions of yen 551 576 Annual dividends per share 1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end Total Total cash dividends (Total) Dividend payout ratio (Consolidated) Ratio of dividends to net assets (Consolidated) Yen – – – Yen 0.00 0.00 0.00 Yen – – – Yen 10.00 18.00 20.00 Yen Millions of yen 10.00 18.00 20.00 30 53 % – 20.4 19.7 % 0.5 0.9 Year ended March 31, 2022 Year ended March 31, 2021 (2) Consolidated financial position As of March 31, 2022 As of March 31, 2021 (3) Consolidated cash flows Year ended March 31, 2022 Year ended March 31, 2021 2. Cash dividends Year ended March 31, 2021 Year ended March 31, 2022 Year ending March 31, 2023 (Forecast) 13. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023) Net sales Operating profit Ordinary profit Millions of yen % Millions of yen % Millions of yen % Millions of yen % 4,170 11.0 9,400 15.3 240 7.5 510 36.7 230 47.2 480 66.8 140 18.2 300 13.1 Yen 47.33 101.42 Percentages indicate year-on-year changesProfit attributable to owners of parent Earnings per share Six months ending September 30, 2022 Full year 4. Notes (1) Changes in significant subsidiaries during the year ended March 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation): (2) 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: Changes in accounting policies due to other reasons: Changes in accounting estimates: Restatement of prior period financial statements: No Yes No No No (3) 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 3,027,626 shares As of March 31, 2021 3,027,626 shares As of March 31, 2022 56,793 shares As of March 31, 2021 16,163 shares Number of treasury shares at the end of the period Average number of shares during the period Year ended March 31, 2022 3,010,855 shares Year ended March 31, 2021 3,010,014 shares 2 As of March 31, 2021 As of March 31, 2022 (Millions of yen) Consolidated financial statements Consolidated balance sheets Assets Current assets Cash and deposits Notes and accounts receivable – trade Electronically recorded monetary claims – operating Merchandise and finished goods Work in process Raw materials and supplies Other Total current assets Non-current assets Property, plant and equipment Buildings and structures, net Machinery, equipment and vehicles, net Land Construction in progress Other, net Total property, plant and equipment Intangible assets Investments and other assets Investment securities Deferred tax assets Other Allowance for doubtful accounts Total investments and other assets Total non-current assets Total assets 586 1,081 634 2,167 701 493 241 5,907 3,781 4,686 231 6 191 8,897 15 721 21 142 (1) 883 9,797 15,704 561 1,529 798 2,631 873 577 23 6,996 3,604 4,349 231 10 141 8,338 18 826 50 144 (1) 1,020 9,376 16,372 3 As of March 31, 2021 As of March 31, 2022 (Millions of yen) Liabilities Current liabilities Notes and accounts payable – trade Electronically recorded obligations – operating Short-term borrowings Current portion of long-term borrowings Income taxes payable Provision for bonuses Other Total current liabilities Non-current liabilities Long-term borrowings Retirement benefit liability Asset retirement obligations 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 Valuation difference on available-for-sale securities Foreign currency translation adjustment Remeasurements of defined benefit plans Total accumulated other comprehensive income Non-controlling interests Total net assets Total liabilities and net assets 469 150 2,650 452 23 161 3,559 7,467 1,171 619 3 1,794 9,262 3,443 402 2,053 (32) 5,866 213 52 (71) 194 381 6,442 15,704 699 285 2,350 506 67 162 710 4,783 4,264 584 3 4,852 9,635 3,443 402 2,287 (101) 6,031 251 99 (48) 303 402 6,737 16,372 4Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income (Millions of yen) Fiscal year ended March 31, 2021 Fiscal year ended March 31, 2022 Dividend income Share of profit of entities accounted for using equity method Net sales Cost of sales Gross profit Operating profit (loss) Non-operating income Interest income Selling, general and administrative expenses Subsidies for employment adjustment Other Total non-operating income Non-operating expenses Interest expenses Commission for syndicated loans Other Total non-operating expenses Ordinary profit (loss) Extraordinary income Gain on sale of investment securities Total extraordinary income Extraordinary losses Loss on retirement of non-current assets Total extraordinary losses Profit (loss) before income taxes Income taxes – current Income taxes – deferred Total income taxes Profit (loss) Profit attributable to non-controlling interests Profit (loss) attributable to owners of parent 6,284 5,296 988 1,052 (64) 0 12 12 178 44 248 38 – 296 334 (150) – – 7 7 3 0 3 (157) (161) 16 (178) 8,149 6,675 1,474 1,101 373 0 16 3 8 11 40 46 50 29 2 2 6 6 126 287 283 44 (46) (2) 286 20 265 5Consolidated statements of comprehensive income (Millions of yen) Fiscal year ended March 31, 2021 Fiscal year ended March 31, 2022 Profit (loss) Other comprehensive income Valuation difference on available-for-sale securities Remeasurements of defined benefit plans, net of tax Share of other comprehensive income of entities accounted for using equity method Total other comprehensive income Comprehensive income Comprehensive income attributable to Comprehensive income attributable to owners of parent Comprehensive income attributable to non-controlling interests (161) 68 29 30 128 (33) (49) 16 286 38 22 46 108 394 373 20 6Consolidated statements of changes in equity Fiscal year ended March 31, 2021 (Millions of yen) Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders’ equity 3,443 402 2,323 (40) 6,128 Balance at beginning of period Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Disposal of treasury shares Transfer of loss on disposal of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Balance at beginning of period Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Disposal of treasury shares Transfer of loss on disposal of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Accumulated other comprehensive income Valuation difference on available-for-sale securities Foreign currency translation adjustment Remeasurements of defined benefit plans Total accumulated other comprehensive income Non-controlling interests Total net assets 144 22 (100) 66 364 6,559 (0) 8 8 (32) 16 16 381 (90) (178) (0) 7 – (261) 5,866 (90) (178) (0) 7 – 145 (116) 6,442 – 3,443 68 68 213 (90) (178) (1) (269) 2,053 30 30 52 29 29 (71) 128 128 194 (1) 1 – 402 7Fiscal year ended March 31, 2022 (Millions of yen) Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders’ equity 3,443 402 2,053 (32) 5,866 Accumulated other comprehensive income Valuation difference on available-for-sale securities Foreign currency translation adjustment Remeasurements of defined benefit plans Total accumulated other comprehensive income Non-controlling interests Total net assets 213 52 (71) 194 381 6,442 – 3,443 38 38 251 (30) 265 (0) 234 2,287 (76) 7 (69) (101) 20 20 402 (30) 265 (76) 6 – 165 6,031 (30) 265 (76) 6 – 129 294 6,737 46 46 99 22 22 (48) 108 108 303 Balance at beginning of period Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Disposal of treasury shares Transfer of loss on disposal of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Balance at beginning of period Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Disposal of treasury shares Transfer of loss on disposal of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period (0) 0 – 402 8Consolidated statements of cash flows (Millions of yen) Fiscal year ended March 31, 2021 Fiscal year ended March 31, 2022 (157) 751 (60) 23 10 (13) 38 (12) – 77 (254) (151) (330) (79) 13 (37) (45) (149) (10) 10 (731) (0) – – (38) (770) 1,250 – – (559) (0) (90) (1) 597 (0) (322) 898 576 283 853 (35) 23 0 (16) 46 (3) (2) (612) (719) 567 318 702 35 (42) (8) 687 (10) 10 (3,452) (0) 5 1 (6) – (3,453) (300) 3,600 (452) (76) (30) – 2,740 (0) (25) 576 551 Cash flows from operating activities Profit (loss) before income taxes Depreciation Increase (decrease) in retirement benefit liability Retirement benefit expenses Increase (decrease) in provision for bonuses Interest and dividend income Interest expenses Share of loss (profit) of entities accounted for using equity method Loss (gain) on sale of investment securities Decrease (increase) in trade receivables Decrease (increase) in inventories Increase (decrease) in trade payables Other, net Subtotal Interest and dividends received Interest paid Income taxes paid Net cash provided by (used in) operating activities Cash flows from investing activities Payments into time deposits Proceeds from withdrawal of time deposits Purchase of property, plant and equipment Purchase of investment securities Proceeds from sale of investment securities Proceeds from collection of loans receivable Other, net Net cash provided by (used in) investing activities Cash flows from financing activities Proceeds from short-term borrowings Repayments of short-term borrowings Proceeds from long-term borrowings Repayments of long-term borrowings Purchase of treasury shares Dividends paid Other, net Net cash provided by (used in) financing activities Effect of exchange rate change on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 9