トーヨーカネツ（6369） – (Correction)[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) May 13, 2022Company name: TOYO KANETSU K.K. Stock exchange listing: Tokyo Stock code: 6369 URL https://www.toyokanetsu.co.jp Representative: President and Representative Director Takashi Owada Inquiries: Takeshi Yonehara TEL 03-5857-3333 Senior Executive Officer Division Manager Corporate Division 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: June 28, 2022 June 28, 2022 June 29, 2022 Yes Holding of financial results meeting: 1. Consolidated financial results for the year ended March 31, 2022 (from April 1, 2021 to March 31, 2022) Yes (for institutional investors and analysts) (Amounts less than one million yen are rounded down)(1) Consolidated operating results 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 59,177 43,617 % Millions of yen 2,808 2,623 – (6.2)% Millions of yen 3,474 – 3,053 1.2 % Millions of yen 2,334 – 1,777 2.8 Earnings per share Diluted earnings per share Ordinary profit/total assets Operating profit/net sales Profit attributable to owners of parent/equity Year ended March 31, 2022 Year ended March 31, 2021 Yen 285.43 212.41 Yen – – % 6.4 5.0 % 5.6 5.1 (Note)From the beginning of the current consolidated fiscal year the Company has applied “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29). The figures for fiscal year ended March 31, 2022 of the current fiscal year above include the effects of the said standards. Accordingly, percentages of changes from the previous fiscal year are not indicated. % – 3.5 % 4.7 6.0 Total assets Net assets Equity ratio Net assets per share Millions of yen 64,290 58,764 Millions of yen 36,477 36,484 % 56.7 62.1 Yen 4,460.55 4,461.06 (Note) “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29) has been applied from the beginning of the fiscal year ended March 31, 2022. The figures for the fiscal year ended March 31, 2022 are the figures after applying the relevant accounting standards. 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 (1,097)1,482 Millions of yen (830)(338)Millions of yen 3,208 (5,176)Millions of yen 8,654 7,309 (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 1 2. Cash dividends Year ended March 31, 2021 Year ended March 31, 2022 Year ending March 31, 2023 (Forecast) 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 Millions of yen Yen – – – Yen 115.00 145.00 115.00 145.00 135.00 135.00 949 1,197 % 54.1 50.8 51.6 % 2.7 3.3 3. 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 Percentages indicate year-on-year changesProfit attributable to owners of parent Earnings per share Full year Millions of yen 52,100 % Millions of yen 2,700 (12.0)% Millions of yen 2,900 (3.9)% Millions of yen 2,140 (16.5)% (8.3)Yen 261.71 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 9,323,074 shares As of March 31, 2021 9,323,074 shares As of March 31, 2022 1,145,933 shares As of March 31, 2021 1,144,747 shares Number of treasury shares at the end of the period Average number of shares during the period Year ended March 31, 2022 8,177,689 shares Year ended March 31, 2021 8,368,557 shares 2 Consolidated financial statements Consolidated balance sheets Assets Current assets Cash and deposits Notes and accounts receivable – trade, and contract assets As of March 31, 2021 As of March 31, 2022 (Millions of yen) 7,413 13,489 550 57 6,732 2,523 863 (13) 31,616 4,142 716 284 10,122 356 18 15,641 481 9,909 42 452 847 (227) 11,024 27,147 58,764 8,759 25,327 220 32 795 2,550 670 (24) 38,332 4,157 773 376 10,374 608 31 16,321 667 7,663 234 449 847 (224) 8,970 25,958 64,290 Investments in leases Merchandise and finished goods Work in process Raw materials and supplies Other Allowance for doubtful accounts Total current assets 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 Other, net Total property, plant and equipment Intangible assets Investments and other assets Investment securities Deferred tax assets Retirement benefit asset Other Allowance for doubtful accounts Total investments and other assets Total non-current assets Total assets 3 As of March 31, 2021 As of March 31, 2022 (Millions of yen) 1,091 3,620 8 3,778 914 2,354 259 30 348 681 1,000 4,580 2,138 1,095 107 230 41 13,086 9,193 22,280 18,580 1,273 16,148 (2,933) 33,068 3,937 9 106 (833) 195 3,415 0 36,484 58,764 1,761 8,120 – 4,887 774 655 434 – 299 1,269 18,202 1,000 4,580 1,644 1,095 392 799 98 9,610 27,813 18,580 1,273 17,533 (2,936) 34,450 2,632 3 106 (878) 160 2,024 2 36,477 64,290 Liabilities Current liabilities Notes and accounts payable – trade Short-term borrowings Current portion of long-term borrowings Provision for loss on orders received Provision for warranties for completed construction Accrued expenses Income taxes payable Contract liabilities Provision for bonuses Other Total current liabilities Non-current liabilities Bonds payable Long-term borrowings Deferred tax liabilities Deferred tax liabilities for land revaluation Retirement benefit liability Asset retirement obligations 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 Valuation difference on available-for-sale securities Deferred gains or losses on hedges Revaluation reserve for land 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 4Consolidated statements of income and consolidated statements of comprehensive income (Millions of yen) Fiscal year ended March 31, 2021 Fiscal year ended March 31, 2022 43,617 34,369 9,247 6,623 2,623 14 259 – 33 104 84 79 576 59 23 17 37 11 9 913 65 989 73 147 3,053 – 1,047 13 15 1,149 2,892 1,199 (83) 1,115 1,777 1,777 (0) 59,177 49,016 10,161 7,352 2,808 6 273 163 77 107 0 109 737 62 – – – 8 71 50 333 14 398 96 59 – – 0 3,474 157 3,716 1,331 50 1,382 2,334 2,334 0 Selling, general and administrative expenses Net sales Cost of sales Gross profit Operating profit Non-operating income Interest income Dividend income Foreign exchange gains Gain on sale of scraps Subsidy income Reversal of allowance for doubtful accounts Other Total non-operating income Non-operating expenses Interest expenses Bond issuance costs Commission for purchase of treasury shares Foreign exchange losses Other Total non-operating expenses Ordinary profit Extraordinary income Gain on sale of non-current assets Gain on sale of investment securities Other Total extraordinary income Extraordinary losses Loss on valuation of investment securities Loss on revision of retirement benefit plan Impairment losses Loss on disaster Other Total extraordinary losses Profit before income taxes Income taxes – current Income taxes – deferred Total income taxes Profit Profit attributable to Profit attributable to owners of parent Profit (loss) attributable to non-controlling interests 5 (Millions of yen) Fiscal year ended March 31, 2021 Fiscal year ended March 31, 2022 Other comprehensive income Valuation difference on available-for-sale securities Deferred gains or losses on hedges Foreign currency translation adjustment Remeasurements of defined benefit plans, net of tax Total other comprehensive income Comprehensive income Comprehensive income attributable to Comprehensive income attributable to owners of parent Comprehensive income attributable to non-controlling interests 1,271 9 (104) 360 1,536 3,313 3,314 (0) (1,305) (6) (44) (34) (1,390) 943 943 0 6Consolidated statements of changes in equity Fiscal year ended March 31, 2021 Share capital Capital surplus Retained earnings Treasury shares Shareholders’ equity (Millions of yen) Total shareholders’ equity Balance at beginning of period 18,580 1,273 15,224 (2,355) 32,722 (853) 1,777 – 18,580 – 1,273 924 16,148 Accumulated other comprehensive income (583) 5 (578) (2,933) Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Disposal of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Valuation difference on available-for-sale securities Deferred gains or losses on hedges Revaluation reserve for land Foreign currency translation adjustment Total Remeasurements accumulated of defined benefit other plans comprehensive income Non-controlling interests Total net assets Balance at beginning of period 2,666 0 106 (729) (165) 1,878 1 34,602 Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Disposal of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period 1,271 1,271 3,937 9 9 9 – – 106 (104) (104) (833) 360 360 195 1,536 1,536 3,415 (0) (0) 0 (853) 1,777 (583) 5 345 33,068 (853) 1,777 (583) 5 1,536 1,882 36,484 7Balance at beginning of period 18,580 1,273 16,148 (2,933) 33,068 Fiscal year ended March 31, 2022 Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period Share capital Capital surplus Retained earnings Treasury shares Shareholders’ equity (949) 2,334 (Millions of yen) Total shareholders’ equity (3) (949) 2,334 (3) 1,381 34,450 – 18,580 – 1,273 1,384 17,533 (3) (2,936) Accumulated other comprehensive income Valuation difference on available-for-sale securities Deferred gains or losses on hedges Revaluation reserve for land Foreign currency translation adjustment Total Remeasurements accumulated of defined benefit other plans comprehensive income Non-controlling interests Total net assets Balance at beginning of period 3,937 9 106 (833) 195 3,415 0 36,484 Changes during period Dividends of surplus Profit attributable to owners of parent Purchase of treasury shares Net changes in items other than shareholders’ equity Total changes during period Balance at end of period (1,305) (1,305) 2,632 (6) (6) 3 – – 106 (44) (44) (878) (34) (1,390) (34) 160 (1,390) 2,024 2 2 2 (949) 2,334 (3) (1,388) (7) 36,477 8 (Millions of yen) Fiscal year ended March 31, 2021 Fiscal year ended March 31, 2022 2,892 776 – 1,047 (61) (39) 94 (211) (41) (273) 59 13 97 73 (913) (9) 4 1,865 370 (2,134) (228) (785) (436) (54) 2,104 273 (62) (28) (804) 1,482 (102) 102 (1,131) 11 (470) 1,238 – 12 (338) 3,716 745 1 – 7 40 (66) (30) (48) (279) 62 – (166) 96 (333) (50) 0 (10,362) 330 5,953 231 1,243 (1,782) 916 225 279 (63) – (1,539) (1,097) (102) 102 (1,013) 0 (43) 644 (619) 200 (830) Consolidated statements of cash flows Cash flows from operating activities Profit before income taxes Depreciation Amortization of goodwill Impairment losses Increase (decrease) in allowance for doubtful accounts Increase (decrease) in retirement benefit liability Decrease (increase) in retirement benefit asset Increase (decrease) in provision for loss on orders received Increase (decrease) in provision for warranties for completed construction Interest and dividend income Interest expenses Loss on disaster Foreign exchange losses (gains) Loss (gain) on valuation of investment securities Loss (gain) on sale of investment securities Loss (gain) on sale of non-current assets Loss on retirement of non-current assets Decrease in trade receivables and contract assets Decrease (increase) in investments in leases Decrease (increase) in inventories Decrease (increase) in advance payments to suppliers Increase (decrease) in trade payables Increase (decrease) in contract liabilities Other, net Subtotal Interest and dividends received Interest paid Payments associated with disaster loss 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 non-current assets Proceeds from sale of non-current assets Purchase of investment securities Proceeds from sale and redemption of investment securities Purchase of shares of subsidiaries resulting in change in scope of consolidation Other, net Net cash provided by (used in) investing activities 9 (Millions of yen) Fiscal year ended March 31, 2021 Fiscal year ended March 31, 2022 Cash flows from financing activities Net increase (decrease) in short-term borrowings Proceeds from long-term borrowings Repayments of long-term borrowings Proceeds from issuance of bonds Purchase of treasury shares Proceeds from disposal of treasury shares Proceeds from share issuance to non-controlling shareholders Dividends paid 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 (4,229) 100 (619) 1,000 (583) 5 – (850) (5,176) (59) (4,093) 11,402 7,309 4,164 – (8) – (3) – 2 (945) 3,208 64 1,345 7,309 8,654 10