Consolidated Financial Results for the Third Quarter Ended December 31, 2022

In the nine-month period ended December 31, 2022, increasingly strong downward pressure was placed on the global economy by factors including Russia’s ongoing military invasion of Ukraine, the economic sanctions placed on Russia in response to this act, and the opaque outlook for the Chinese economy. Accordingly, there is a need to carefully monitor factors with the potential to trigger future economic recession, such as high inflation and the monetary tightening measures instituted on a global scale to address this inflation. This need is present despite the dissipation of the impacts of the COVID-19 pandemic, which is being seen in various countries, with the exception of countries like China.

Revenue in the nine-month period ended December 31, 2022, was up year on year following increases in revenue in the Metals, Mineral Resources & Recycling Division, a result of higher prices for coal; in the Chemicals Division, a result of growth in plastic resin transactions; and in the Retail & Consumer Service Division, a result of the new acquisition of an aquaculture food prouct manufacturing company.

Profit for the period (attributable to owners of the Company) was up year on year, despite a rise in SG&A expenses associated with the acquisition of new consolidated subsidiaries, following higher gross profit.

moreFinancial Results Materials

(BN JPY)

	FY2021 Q3	FY2022 Q3	Difference
Revenue	1,548.6	1,925.3	+376.7
Gross profit	190.7	263.4	+72.7
Profit for the period attributable to owners of the Company	62.0	108.7	+46.7

Changes of Yearly Financial Results (Cumulative)

Trends in Financial Data（EXCEL）

Segment Performance (Profit for the Period attributable to owners of the Company) (Cumulative)

Commodity Prices and Exchange Rates

*1 :

Coal prices are based on standard market prices and therefore differ from the Company’s selling prices.

*2 :

Impact of fluctuations in the exchange rate on earnings: ¥1/US$ change alters gross profit by approx. ¥0.75
billion annually, profit for the year (attributable to owners of the Company) by approx. ¥2.0 billion annually,
and total equity by approx. ¥0.3 billion annually.

Full Year Forecast of Fiscal Year Ending March 31, 2023

(BN JPY)

	FY2021 Results	FY2022 Revised Forecast (Feb. 2,2023)	Difference
Gross profit	271.3	345.0	+73.7
Profit for the Year (attributable to owners of the Company)	82.3	110.0	+27.7

FY2022 Profit for the Year Forecast by Segment

Caution regarding Forward-looking Statements
This document contains forward-looking statements based on information available to the Company at the time of disclosure and certain assumptions that management believes to be reasonable. Actual results may differ materially based on various factors including the timing at which the changes in economic conditions in key markets, both in and outside of Japan, and exchange rate movements. The Company will provide timely disclosure of any material changes, events, or other relevant issues.