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.
Company name:
Stock exchange listing:
Representative:
Inquiries:

Denyo Co., Ltd.
TokyoPresident
Director & Managing Executive Officer
Chief Executive Administration Division

April 27, 2023
(Stock code: 6517)
Takanori Yoshinaga
Makoto Tanabe

TEL +81-3-6861-1111

Notice Concerning Revision of Forecast Financial Results and Dividend Forecast (Dividend Increase)
Denyo Co., Ltd. (the “Company”) resolved to revise the earnings forecast and dividend forecast which wereannounced on November 11, 2022 based on the recent actual performance. Details are as follows.
Description
1. Revision of Forecast Financial Results(1)Revision of the consolidated financial results
Revision of the forecast consolidated financial results for the year ending March 31, 2023
(From April 1, 2022 to March 31, 2023)
Net sales

OperatingprofitOrdinary
profitMillions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

60,000

3,400

3,500

2,400115.80

New forecasts (B)64,000

4,850

5,150

3,600

174.02

Change (B-A)

4,000

1,450

1,650

1,200

Change (%)

6.7

42.6

47.1

50.0

55,168

3,653

4,029

2,753

Previous forecasts (A)Reference: Results in Year
ended Mar.31, 2022

Profit attribute toowners of parent

Earnings pershare

132.02(2)Reasons
While demand in the domestic market remained firm, demand in the US market also remained at a high level, and theAsian market recovered steadily, supported by factors such as the depreciation of the yen. Under these circumstances,the production of some products has been hindered due to difficulties in procuring parts, etc., but we have focused onstabilizing supply, such as by accommodating production materials and implementing production support within thegroup. In addition, although the cost of raw materials increased due to the rise in global prices, we have been working
to reflect some of this in sales prices, and the effects of this have been apparent mainly in the second half of the fiscalyear.
As a result, we have revised the consolidated earnings forecast for the fiscal year ending March 31, 2023 as describedabove, as net sales, operating profit, ordinary profit, and profit attributable to owners of the parent are expected toexceed the previously announced forecast.
2. Revision of dividend forecast(1)Revision of the Dividend Forecast
Annual dividends per share
Reference date

2nd quarter-end

Fiscal year-end

Total

Previous forecasts

Yen

Yen

Yen

(May 12, 2022)

23.00

25.00

48.00

New forecasts

–

27.00

50.00

23.00

–

–

22.00

25.00

47.00

Actual results for the current
fiscal year
Actual results for theprevious fiscal year
(ended March 31, 2022)

(2)Reasons
The Company recognizes the importance of enhancing the return of profits to shareholders while striving to improve
its earning power and strengthen its financial structure. This is our basic policy.
Based on this basic policy, and in light of the above revisions to the earnings forecast, the Company has increased theyear-end dividend forecast by 2 yen from 25 yen per share to 27 yen per share, and revised the annual dividend forecast
from 48 yen per share to 50 yen per share.
Notice: The above forecast is based on the information we have got until the announcement date of this material. Please kindly be aware of that actual results
may differ materially from projected values due to various factors.

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