Amended Quarterly Report - Second Quarter of the 102nd Fiscal Period (2023/07/01 - 2023/09/30)

Mikuni Corporation Amended Quarterly Report - Second Quarter of the 102nd Fiscal Period (2023/07/01 - 2023/09/30)

Pursuant to Article 24-5, Paragraph 1 of the Financial Instruments and Exchange Act, we hereby submit the amended quarterly report for the consolidated accounting period of the second quarter of the 102nd fiscal period.

The primary reasons for this amendment are errors identified in the application of revenue recognition accounting standards, specifically regarding the timing of revenue recognition for certain transactions, and deficiencies in the inventory valuation accounting methods of overseas subsidiaries. As a result, key financial metrics including net sales, cost of sales, operating profit, and net income have been revised.

The revised quarterly net profit shows a 12.3% decrease compared to the same period of the previous year. While foreign exchange fluctuations and rising raw material prices have contributed, the main cause is the aforementioned accounting corrections. The company has immediately strengthened internal controls and reviewed its audit systems to prevent recurrence and ensure robust financial governance.

In conjunction with the filing of this report, the materials for the quarterly earnings briefing scheduled for November 15, 2023, have also been updated. We appreciate investors' understanding of these measures taken to ensure information accuracy and kindly request continued support.