Disclaimer: This document is an English translation of the original document in Japanese and has been
prepared solely for reference purposes. In the event of any discrepancy between this English translation andthe original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2022
[Japanese GAAP]May 9, 2022
Company name: SUZUDEN CORPORATION
Stock exchange listing: Tokyo Stock Exchange
Securities code: 7480
URL: https://www.suzuden.co.jp/
Representative: Toshio Suzuki, Representative Director, Chairman and President
Contact: Satoshi Nakano, Executive Officer
Phone: +81-3-6910-6801
Scheduled date of annual general meeting of shareholders: June 28, 2022
Scheduled date of commencing dividend payments: June 13, 2022
Scheduled date of filing annual securities report: June 29, 2022
Availability of supplementary briefing materials on financial results: Not available
Schedule of financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021 – March 31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Fiscal year ended
Million yen%
Million yen%
Million yen%
Million yen%
March 31, 2022
59,690
–
3,051
129.1
3,367
115.5
2,342
163.4
March 31, 2021
45,281
1.6
1,332
(3.4)
1,562
(3.9)
889
(17.1)(Note) Comprehensive income: Fiscal year ended March 31, 2022: ¥2,306 million [144.1%]
Fiscal year ended March 31, 2021: ¥944 million [(12.4)%]
DilutedRatio ofRatio of
Basic earnings
Return on
earnings
ordinary profit operating profit
per share
equityper share
to total assets
to net sales
Fiscal year ended
Yen
Yen
%
%
%
March 31, 2022
167.82
–
13.8
11.4
5.1
March 31, 2021
63.89
–
5.4
5.9
2.9
(Reference) Share of profit (loss) of entities accounted for using equity method:
Fiscal year ended March 31, 2022: ¥ – million
Fiscal year ended March 31, 2021: ¥ – million(Note) The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29), etc.
from the beginning of the fiscal year ended March 31, 2022. For this reason, the year-on-year change in net
sales before the application of the above accounting standard, etc. is not provided.
(2) Consolidated Financial Position
Total assets

Net assets

Million yen

32,736
As of March 31, 2022
26,441
As of March 31, 2021
(Reference) Equity: As of March 31, 2022: ¥17,627 million
As of March 31, 2021: ¥16,396 million

Equity ratio

Net assets per share

Million yen%

Yen

17,627
16,39653.8
62.0

1,261.67
1,175.22

(3) Consolidated Cash Flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodMillion yen

Million yen

Million yen

Million yen

426
2,514

(696)
671

497
(1,768)

6,137
5,886

Fiscal year ended
March 31, 2022
March 31, 2021

2. Dividends
1stquarterend
Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023
(Forecast)

Annual dividends
2nd
3rd
Yearquarter- quarterend
end
end

Total

Total
dividends(total)Payout ratio(consolidated)

Ratio ofdividends to
net assets(consolidated)

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

–

18.00

–

54.00

72.00

1,012

112.7

6.1

–

25.00

–

97.00

122.00

1,717

72.7

10.0

–

55.00

–

56.00

111.0080.3

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 - March
31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper share
parentFirst half
Full year

Million yen

29,60059,400

%

10.8
(0.5)

Million yen%

1,370 17.3
2,700 (11.5)

Million yen

1,520
2,990

%

15.4
(11.2)

Million yen

%

980
9.0
1,930 (17.6)

Yen

70.22
138.29

* Notes:(1) Changes in significant subsidiaries during the period under review: None
(Changes in specified subsidiaries resulting in changes in scope of consolidation):
Newly included: – (), Excluded: – ()(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards and other regulations: Yes
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None
(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2022:
14,652,600 shares
March 31, 2021:
14,652,600 shares2) Total number of treasury shares at the end of the period:
March 31, 2021:
681,287 shares
March 31, 2021:
700,987 shares
3) Average number of shares during the period:
Fiscal year ended March 31, 2022:
Fiscal year ended March 31, 2021:

13,956,612 shares
13,920,912 shares(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2022. (April 1, 2021 - March 31,
2022)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Operating profit
Ordinary profit
Net income
Fiscal year ended
Million yen%
Million yen%
Million yen%
Million yen%
March 31, 2022
59,110
–
3,035
125.9
3,367
113.3
2,265
120.9
March 31, 2021
44,960
1.9
1,343
(2.6)
1,578
(3.8)
1,025
(5.5)
Basic earnings
per share

Diluted earnings
per share

Fiscal year ended
Yen
Yen
March 31, 2022
162.32–
March 31, 2021
73.67–
(Note) The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29), etc.
from the beginning of the fiscal year ended March 31, 2022. For this reason, the year-on-year change in net
sales before the application of the above accounting standard, etc. is not provided.
(2) Non-consolidated Financial Position
Total assets
Million yen

Net assets

Equity ratio

Net assets per share

Million yen%

As of March 31, 2022
32,521
17,449As of March 31, 2021
26,173
16,321(Reference) Equity: As of March 31, 2022: ¥17,449 million
As of March 31, 2021: ¥16,321 million

53.7
62.4

Yen

1,248.94
1,169.87

* These consolidated financial results are outside the scope of audit by certified public accountants or an audit firm.
* Explanation on the proper use of financial results forecasts and other special notes
The financial results forecasts and other forward-looking statements herein are based on information currently
available to the Company and certain assumptions that have been deemed reasonable. They do not constitute a
guarantee of future results. Actual performance may differ significantly from these forecasts due to a wide range offactors. For assumptions underlying the financial results forecasts and precautions regarding their use, please refer to“1. Overview of Operating Results, etc., (4) Future Outlook” on page 3 of the Attachments.

Table of Contents - Attachments
1. Overview of Operating Results, etc...........................................................................................................2(1) Overview of Operating Results for the Fiscal Year under Review........................................................2(2) Overview of Financial Position for the Fiscal Year under Review .......................................................3(3) Overview of Cash Flows for the Fiscal Year under Review..................................................................3(4) Future Outlook ......................................................................................................................................3(5) Company’s Medium- to Long-Term Management Strategies ...............................................................4
2. Basic Policy on Selection of Accounting Standards ..................................................................................5
3. Consolidated Financial Statements and Principal Notes ...........................................................................6(1) Consolidated Balance Sheets ................................................................................................................6(2) Consolidated Statements of Income and Comprehensive Income ........................................................8(3) Consolidated Statements of Changes in Equity ..................................................................................10(4) Consolidated Statements of Cash Flows .............................................................................................12(5) Notes to Consolidated Financial Statements .......................................................................................13(Notes on going concern assumption) ................................................................................................13(Changes in accounting policies) .......................................................................................................13(Additional information) ....................................................................................................................13(Segment information, etc.) ...............................................................................................................14(Per share information) ......................................................................................................................15(Significant subsequent events) .........................................................................................................15
4. Others ......................................................................................................................................................16(1) Purchases and Sales .............................................................................................................................16(2) Changes in Officers .............................................................................................................................16

1

1. Overview of Operating Results, etc.
(1) Overview of Operating Results for the Fiscal Year under Review
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March
31, 2020), etc. from the beginning of the fiscal year under review. Accordingly, net sales for the fiscal year underreview are presented without a year-on-year comparison (%) with the previous fiscal year. Details are explainedin “3. Consolidated Financial Statements and Principal Notes (5) Notes to Consolidated Financial Statements(Changes in accounting policies).”
Regarding the Group’s operating environment during the fiscal year under review (April 1, 2021 - March 31,2022), amidst progress with COVID-19 vaccinations and relaxed restrictions on movement despite persistentuncertainties due to the impact of the disease, corporate production and capital investment demand have shown
signs of recovery.
Within this environment, from the perspective of business continuity planning, the Company has adopted
measures that prioritize the health and safety of its employees, and to assist manufacturing processes as a
“Manufacturing Support Company,” possesses a comprehensive inventory and has strived to provide a stablesupply of products to its customers. This inventory strategy has garnered positive feedback from our customers.
In the electrical equipment, electronic component, and industrial machinery industries, the principal marketsof the Group, formerly stagnant production and capital investment demand have been showing signs of recovery
from the latter half of the previous fiscal year. Moreover, with increased orders ahead of schedule due to theimpact of shortages in semiconductors and resin materials, etc., as well as increased shipments from suppliers
toward the end of the period, performance has been favorable. Especially regarding major customers ofsemiconductor manufacturing equipment, increased production and capital investment demand of semiconductor
manufacturers on the back of the increased demand for semiconductors and worldwide shortages insemiconductors have fueled these favorable results throughout the fiscal year. In addition, additional orders
received due to special demand unique to this fiscal year, which is attributable to shortages in goods, also
contributed to the operating results. In terms of profit, the results in the previous fiscal year were surpassed as
profit increased following the increase in sales.
As a result, for the fiscal year under review, net sales amounted to ¥59,690 million (¥45,281 million in theprevious fiscal year), operating profit was ¥3,051 million (up 129.1% year-on-year), ordinary profit was ¥3,367
million (up 115.5% year-on-year), and profit attributable to owners of parent was ¥2,342 million (up 163.4%
year-on-year). As such, both sales and profit increased year-on-year.
Net sales of the Group by product segment are as follows:(1) FA equipment
Net sales amounted to ¥34,881 million with increased sales of RFID equipment, relay equipment, sensors,
control equipment, etc.
(2) Information and communication equipment
Net sales amounted to ¥6,048 million with increased sales of CPUs, personal computers for industrialuse, routers, network equipment, etc.
(3) Electronics and devices
Net sales amounted to ¥7,616 million with increased sales of connectors, switching power supplies, noise
filters, etc.
(4) Materials for electric facilities
Net sales amounted to ¥11,143 million with increased sales of terminal blocks, cable accessories, boxes,etc.

2(2) Overview of Financial Position for the Fiscal Year under Review(Assets)
Total assets as of the end of the fiscal year under review amounted to ¥32,736 million, up ¥6,294 million fromthe end of the previous fiscal year.
Current assets increased by ¥5,517 million from the end of the previous fiscal year to ¥26,902 million.
This was primarily due to a ¥2,632 million increase in accounts receivable - trade, a ¥1,465 million increasein electronically recorded monetary claims - operating, and a ¥1,120 million increase in merchandise.
Non-current assets increased by ¥776 million from the end of the previous fiscal year to ¥5,833 million.
This was mainly due to a ¥1,001 million increase in buildings and structures associated with facility additions
to Taiwa Plant.
(Liabilities)
Liabilities as of the end of the fiscal year under review amounted to ¥15,109 million, up ¥5,063 million from theend of the previous fiscal year.
Current liabilities increased by ¥5,252 million from the end of the previous fiscal year to ¥13,925 million.
This was primarily due to a ¥1,535 million increase in notes and accounts payable - trade and a ¥2,000 million
increase in short-term borrowings.
Non-current liabilities decreased by ¥189 million from the end of the previous fiscal year to ¥1,183 million.
(Net assets)
Net assets as of the end of the fiscal year under review amounted to ¥17,627 million, up ¥1,230 million from theend of the previous fiscal year.
This was mainly due to the recording of profit attributable to owners of parent for the fiscal year under reviewof ¥2,342 million and dividend payments of ¥1,111 million. The equity ratio was 53.8%.
(3) Overview of Cash Flows for the Fiscal Year under Review
Cash and cash equivalents (hereinafter referred to as “net cash”) as of the end of the fiscal year under review
amounted to ¥6,137 million, up ¥250 million from the end of the previous fiscal year. The status of cash flows
and its contributing factors during the fiscal year under review are as follows.
(Cash flows from operating activities)
Due to operating activities, net cash increased by ¥426 million. (Net cash increased by ¥2,514 million in theprevious fiscal year)
This was mainly due to a ¥3,442 million increase in profit before income taxes, a ¥2,227 million increase intrade payables, a ¥4,041 million increase in trade receivables, and a ¥576 million decrease in income taxes paid.
(Cash flows from investing activities)
Due to investing activities, net cash decreased by ¥696 million. (Net cash increased by ¥671 million in theprevious fiscal year)
This was mainly due to purchase of property, plant and equipment of ¥829 million associated with facility
additions to Taiwa Plant.
(Cash flows from financing activities)
Due to financing activities, net cash increased by ¥497 million. (Net cash decreased by ¥1,768 million in theprevious fiscal year)
This was mainly due to proceeds from short-term borrowings of ¥2,000 million and dividends paid of ¥1,111
million.
(4) Future Outlook
Regarding the future outlook, in the electrical equipment, electronic component, and industrial machineryindustries, the principal markets of the Company, a high level of order volume is expected to continue mainly
for manufacturers of semiconductor manufacturing equipment due to longer delivery times, and at present, theCompany assumes that the same level of order volume will continue in the future. However, the Company
assumes that net sales will decrease due to a fallback after the special demand unique to this fiscal year3

attributable to shortages in goods and withdrawal of overseas subsidiaries. In addition, uncertainties remain suchas supply concerns due to shortages in parts and materials, the impact of COVID-19, and geopolitical risks inthe external environment. On the profit front, the Company expects that expenses, etc. will increase due to theimpact of upfront investments to meet customer requirements, surging crude oil prices, etc., and that both sales
and profit will decrease on a full-year basis.
Forecasts and other forward-looking information are based on information currently available to the Company,
and actual performance, etc. may vary due to a variety of factors. If there are any changes in the future, they will
be disclosed appropriately.

(5) Company’s Medium- to Long-Term Management Strategies
With its management strategies aiming for enhancement of corporate value at the core, the Company will, as a
“Manufacturing Support Company,” supply and provide support for facilities, equipment, components, services,
etc. for manufacturing sites (production sites such as plants, construction sites, etc.).
In addition, with the aim of further improving quality, productivity, and efficiency, the Company will makeinvestment mainly in information technology (IT) and robotics to promote digital transformation (DX) for the
purpose of, among others, making operations and logistics functions more efficient. In addition, the Company
will work on efforts to enhance its educational system so that each and every employee can improve. In theseways, the Company will strive for sustainable growth and enhancement of corporate value.
(i) Sales strategy
The Company will concentrate management resources to selected growth markets and areas, and work
to improve financial results by expanding, strengthening, and cultivating market territories to a deeper
extent with a “customer-first” spirit.
As part of priority measures, the Company will work to eliminate labor shortages, improve productivity
and enhance quality management by selling robot- and Internet of Things (IoT)-based products. The
Company will also make proposals for construction of smart plants. The Robots and Solutions Section,
established as an engineering department, is committed to the provision of comprehensive solutions formaking customers’ production sites a smart plant. Such solutions include selection of equipment such as
robots, and data accumulation and utilization. In addition, as the semiconductor industry is expected tocontinue to grow following the practical application of 5G communications, AI, autonomous driving,
etc. and accelerated development of technologies, the Company will concentrate its management
resources and focus on customers related to semiconductor manufacturing equipment and electronic
components. Moreover, for medical markets including the medical equipment-related market and the
medical practice- and nursing care-related market, on which the Company has placed an emphasis overthe medium to long term, and for the Internet business in which demand is expected to continue toincrease in association with changes in customers’ purchasing modes, the Company has identified the
expansion of functions of and the range of products handled at “FAUbon,” the e-commerce website its
operates, as one of its priority strategies. The Company will also add various services to accommodate
major customers’ centralization of purchasing, etc. to the website, and thereby work to improve financial
results.
As a “manufacturing” base of the Company, Taiwa Plant (Kurokawa County, Miyagi Prefecture) has
long engaged in assembly, processing, etc. of custom-build personal computers, terminal blocks, unit
products, etc. The Company will shortly build an extension to the plant for purposes including assemblyof aluminum frames for semiconductor manufacturing equipment, and whereby strengthen its
manufacturing functions and respond to customers’ requirements. The Company will continue to further
strengthen the system to provide high-value-added products and meet advanced requirements for supply
chain management (SCM).
(ii) Product strategy
As a “Manufacturing Support Company,” the Company will promote proposals for cutting-edge
controlling equipment and materials for electric facilities and push forward with the sale of mechatronics
4

products, safety products, environment-related products, etc. in response to key words such as “quality,
environment (saving), and safety,” improvement of which is required by production sites at all times. In
the robot and IoT areas, which are growth areas, the Company will make solution proposals such asenergy saving, labor saving, and introduction of IoT in line with customers’ needs, through strengtheningof the ability to make proposals by providing training programs for manufacturers and other efforts todevelop human resources, cooperation with systems integrators, and collaboration with the engineering
departments of the Company.
In addition, as for the original brand “Ubon,” the Company will further enhance the productassortments of mainstay wiring accessories and in-panel parts and accelerate development of products
proactively incorporating customers’ needs including high-value-added products such as customized
personal computers, as well as testing kits, and thereby work to improve customers’ convenience andincrease revenue.
2. Basic Policy on Selection of Accounting Standards
Many of the stakeholders of the Group are shareholders, creditors and business partners in Japan and overseas
subsidiaries of domestic business partners, among others, and there is little necessity to procure funds fromoverseas. Therefore, the Company has adopted Japanese generally accepted accounting principles.
Going forward, it is the policy of the Company to consider applying International Financial ReportingStandards taking into account factors especially such as the trends in the application of such accounting standards
by other companies listed in the market of Tokyo Stock Exchange, which is the same exchange market as theCompany.

53. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheets(Thousand yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Electronically recorded monetary claims - operating
Merchandise
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Other
Total 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

6

As of March 31, 2022

5,907,920
1,678,191
7,812,054
3,120,337
2,536,758
331,942(2,515)
21,384,689

6,148,188
1,628,772
10,444,542
4,585,551
3,657,056
441,830(3,326)
26,902,616

3,051,449(1,546,821)
1,504,627
1,909,493
86,867(31,848)
55,0189,350
293,485(176,492)
116,9933,595,483

4,052,689(1,602,214)
2,450,474
1,909,493
75,379(37,055)
38,323
11,000221,931(156,685)
65,2454,474,538

66,266
66,266

113,767
113,767

498,848
329,669
602,717(35,842)
1,395,392
5,057,141
26,441,831

394,752
459,881425,224(34,592)
1,245,265
5,833,572
32,736,188

(Thousand yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Asset retirement obligations
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Provision for share-based remuneration for directors(and other officers)
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
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

As of March 31, 2022

4,663,370
2,381,604
354,084
37,421
340,109244,133

6,198,414
3,077,472
2,000,000
41,54427,995
1,002,683
459,936

70,700211,000

44,600536,332
8,672,355

905,992
13,925,038

41,544
212,601

33,98043,99357,010957,709
1,816
115,529
1,373,194
10,045,550

927,843
49,145
115,989
1,183,969
15,109,008

1,819,230
1,541,190
13,530,310(604,973)
16,285,757

1,819,230
1,558,048
14,761,556(586,718)
17,552,116

98,604
7,549
4,369
110,523
16,396,280
26,441,831

36,91531,757
6,391
75,063
17,627,179
32,736,188

–

7

–

–

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Thousand yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Packing and transportation costs
Salaries, allowances and bonuses
Share-based payment expenses
Legal welfare expenses
Retirement benefit expenses
Rent expenses
Depreciation
Provision of allowance for doubtful accounts
Provision for bonuses
Provision for bonuses for directors (and other officers)
Other
Total selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Purchase discounts
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on sale of notes receivable - trade
Sales discounts
Foreign exchange losses
Loss on cancellation of leases
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Gain on reversal of lease obligations
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment losses
Loss on valuation of investment securities
Extra retirement payments
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

For the fiscal year ended
March 31, 2021
45,281,607
38,719,067
6,562,539

For the fiscal year ended
March 31, 2022
59,690,852
50,552,605
9,138,247

479,673
2,359,440
26,589376,316
139,710377,578
189,806(1,635)244,133
70,700967,887
5,230,200
1,332,339

559,941
2,519,896
34,989439,099
139,312427,837
191,572(439)
459,936
211,000
1,103,324
6,086,471
3,051,775

8,987
15,721
208,957–
32,307265,973868
17,636
262,760
23,041
30,273
334,581

13,045
1,837
5,576
7,565
3,970
3,669
35,665
1,562,648

9,703
2,395
–
–
3,497
3,389
18,986
3,367,370

14,359–14,3591,418
108,746
110,164

8,431
124,995
20,327–
153,754
1,423,253
544,061(10,216)
533,845889,408
889,408

1,177
10,474–23,024
34,6763,442,858
1,205,388(104,795)
1,100,592
2,342,265
2,342,2658

Consolidated Statements of Comprehensive Income(Thousand yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to
Owners of parent
Non-controlling interests

For the fiscal year ended
March 31, 2021
889,408

For the fiscal year ended
March 31, 2022
2,342,265

54,6661,248(448)
55,467
944,875(61,689)
24,2082,021(35,459)
2,306,806

944,875–

2,306,806–

9

(3) Consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)(Thousand yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

1,819,230

1,530,825

Retainedearnings
13,623,165

Treasury shares

Total
shareholders’equity(642,661)

16,330,559

Changes during period
Dividends of surplus(982,263)(982,263)

Profit attributable to owners ofparent889,408

889,408

Disposal of treasury shares

10,36537,68748,053

Net changes of items other thanshareholders’ equity
Total changes during period
Balance at end of period

Balance at beginning of period–

10,365(92,855)

37,687(44,802)

1,541,190

13,530,310(604,973)

16,285,757

Accumulated other comprehensive income
Valuation
Total accumulated
Foreign currency Remeasurements
difference onothertranslationof defined benefit
available-for-salecomprehensive
adjustment
plans
securities
incomeTotal net assets

1,819,230

43,937

6,300

4,818

55,056

16,385,615

Changes during period
Dividends of surplus(982,263)

Profit attributable to owners ofparent889,408

Disposal of treasury shares

48,053

Net changes of items other thanshareholders’ equity

54,666

1,248

(448)

55,46755,467

Total changes during period

54,666

1,248

(448)

55,467

10,664

Balance at end of period

98,604

7,549

4,369

110,523

16,396,280

10

For the fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)(Thousand yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

1,819,230

1,541,190

Retainedearnings

Treasury shares

Total
shareholders’equity(604,973)

16,285,757

13,530,310

Changes during period
Dividends of surplus(1,111,020)(1,111,020)

Profit attributable to owners ofparent2,342,265

2,342,265

Disposal of treasury shares

16,85818,255

35,113

Net changes of items other thanshareholders’ equity
Total changes during period
Balance at end of period－

16,8581,231,245

18,255

1,266,358

1,819,230

1,558,048

14,761,556(586,718)

17,552,116

Accumulated other comprehensive income
Total accumulated
Valuation
Foreign currency Remeasurements
otherdifference ontranslationof defined benefit
available-for-salecomprehensive
adjustment
plans
securities
incomeBalance at beginning of period

98,604

7,549

4,369

110,523

Total net assets

16,396,280

Changes during period
Dividends of surplus(1,111,020)

Profit attributable to owners ofparent2,342,265
35,113

Disposal of treasury shares
Net changes of items other thanshareholders’ equity(61,689)

24,2082,021(35,459)(35,459)

Total changes during period(61,689)

24,2082,021(35,459)

1,230,899

Balance at end of period

36,91531,757

6,391

75,063

17,627,179

11

(4) Consolidated Statements of Cash Flows(Thousand yen)

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors(and other officers)
Increase (decrease) in provision for share awards for
directors (and other officers)
Increase (decrease) in retirement benefit liability
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses
Loss (gain) on valuation of investment securities
Loss (gain) on sale of investment securities
Loss on retirement of property, plant and equipment
Gain on reversal of lease obligations
Extra retirement payments
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase/decrease in consumption taxes
payable/consumption taxes refund receivable
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Proceeds from redemption of securities
Purchase of investment securities
Proceeds from sale of investment securities
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee deposits
Payments into time deposits
Proceeds from withdrawal of time deposits
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
Repayments of finance lease obligations
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

For the fiscal year
ended March 31, 2021

For the fiscal year
ended March 31, 2022

1,423,253
189,806
124,995
2,217

3,442,858
191,572
10,474
215,803(3,300)140,300

18,434

17,157(23,543)(1,635)(24,709)
13,04520,327(14,359)
8,431––
811,985
59,524
171,613(29,866)(439)(18,505)
9,703–(1,418)
1,177(108,746)
23,024(4,041,432)(1,118,912)
2,227,584

146,200(71,962)

32,0282,954,315
36,256(12,966)(462,718)
2,514,888

105,366
993,738
18,289(9,638)(576,175)
426,213(49,076)(11,450)
900,000(25,988)
55,085(207,470)
9,983(21,000)
21,000671,084(829,655)(69,369)－(26,005)
36,329(6,921)
188,822(11,000)
21,000(696,799)–(1,342)2,000,000(2,749,968)(34,553)(982,263)(1,768,127)
812
1,418,657
4,468,262
5,886,920

2,000,000––(354,084)12(37,036)(1,111,525)
497,353
23,501
250,268
5,886,920
6,137,188

(5) Notes to Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Changes in accounting policies)(Application of accounting standard for revenue recognition, etc.)
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29,
March 31, 2020, hereinafter “Revenue Recognition Standard”), etc. from the beginning of the fiscal year underreview. Accordingly, revenue is recognized at the point in time at which control of the promised goods orservices is transferred to the customer in an amount that reflects the consideration the Company expects toreceive in exchange for those goods or services. As a result, for some transactions, the Company had previously
recognized revenue on a gross basis, but has changed to a method of recognizing revenue on a net basis fortransactions in which the role of the Company in providing a good or service to the customer is an agent.
The Group primarily sells products related to electrical and electronic components, and the performanceobligations related to the sale of such products are to be fulfilled at a point in time. Therefore, the revenue isrecognized at the point in time at which a product has been shipped and requirements are judged to have been
met in light of the contractual terms with the customer and the number of days required for shipping anddelivery.
The application of the Revenue Recognition Standard, etc. is in accordance with the transitional treatment
set forth in the proviso of Paragraph 84 of the Revenue Recognition Standard, and the aggregate amount of
the impact of retroactively applying the new accounting policy prior to the beginning of the fiscal year underreview is added to or subtracted from retained earnings at the beginning of the fiscal year under review. The
new accounting policy is applied from the said beginning balance of retained earnings, but there will be no
impact on such balance.
As a result, net sales and cost of sales for the fiscal year under review each decreased by ¥247,618 thousand,while there is no impact on operating profit, ordinary profit, and profit before income taxes.
There is no impact on per share information.
(Application of accounting standard for fair value measurement, etc.)
The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30,
July 4, 2019, hereinafter “Fair Value Measurement Standard”), etc. from the beginning of the fiscal year underreview, and plans to prospectively apply the new accounting policy determined by the Fair Value Measurement
Standard, etc. in accordance with the transitional treatment set forth in Paragraph 19 of the Fair Value
Measurement Standard and Paragraph 44-2 of the “Accounting Standards for Financial Instruments” (ASBJ
Statement No. 10, July 4, 2019).” There was no impact on the consolidated financial statements.
(Additional information)(Accounting estimate related to the impact of the spread of COVID-19)
The Group makes accounting estimates based on the information available at the time of preparing theconsolidated financial statements. At this point in time, the Group believes that there is no significant impactof the spread of COVID-19 on the assumptions used to make the accounting estimates.
As the impact of COVID-19 on economic activities is highly uncertain, if there are any changes in theassumptions caused by the future situation, they may affect the future financial position and operational resultsof the Group.

13

(Segment information, etc.)[Segment information]
The business segments of the Group are the Company’s constituent units for which separate financial information
is available and are subject to regular review by the Board of Directors to determine the allocation of management
resources and evaluate performance.
The Group primarily engages in the business of purchasing and selling products related to electrical andelectronic components, and its business segments consist of its subsidiaries and departments.
However, each of these segments is business related to the “Sale of Electrical and Electronic Components.”
In addition, unification of them can be judged to help provide appropriate information on the details of businessactivities and the business environment to understand past financial results of the Group and evaluate future cash
flow forecast appropriately. Accordingly, the Group uses the unified business segment, “Sale of Electrical andElectronic Components,” as the single reportable segment.
[Related information]
For the fiscal year ended March 31, 2021
Information by major customer
Name of customer

Net sales

Tokyo Electron Miyagi Ltd.

¥6,108,087 thousand

The Group has transactions with Tokyo Electron Technology Solutions Ltd. and Tokyo Electron Kyushu Ltd.,
which are group companies of the above-mentioned customer, and the trends in capital investment, changes in
production plans, etc. of the customer’s group may have an impact on operating results, financial position, etc.
of the Group.
For the fiscal year ended March 31, 2022
Information by major customer
Name of customer

Net sales

Tokyo Electron Miyagi Ltd.

¥9,117,022 thousand

The Group has transactions with Tokyo Electron Technology Solutions Ltd. and Tokyo Electron Kyushu Ltd.,
which are group companies of the above-mentioned customer, and the trends in capital investment, changes in
production plans, etc. of the customer’s group may have an impact on operating results, financial position, etc.
of the Group.

14(Per share information)
Net assets per share

For the fiscal year
ended March 31, 2021
¥1,175.22

For the fiscal year
ended March 31, 2022
¥1,261.67

Basic earnings per share¥63.89¥167.82

Notes

1. Diluted earnings per share are not presented, as there are no potential shares with dilutive effects.
2. The basis for calculation of basic earnings per share is as follows.
For the fiscal year
For the fiscal year
ended March 31, 2021
ended March 31, 2022

Basic earnings per share
Profit attributable to owners of parent(Thousand yen)

889,408

2,342,265––

Profit attributable to owners of parent
relating to common shares(Thousand yen)

889,408

2,342,265

Average number of common shares
outstanding during the period (Shares)

13,920,912

13,956,612

Amount not attributable to commonshareholders (Thousand yen)

3. The basis for calculation of net assets per share is as follows.
As of March 31, 2021
Total net assets (Thousand yen)

As of March 31, 2022

16,396,280

17,627,179

Amounts deducted from total net assets(Thousand yen)––

(Of which, share acquisition rights(Thousand yen))

(–)

(–)

16,396,280

17,627,179

Net assets relating to common shares at
end of period (Thousand yen)

Number of common shares at end of
period used to calculate net assets per
13,951,613
13,971,313
share (Shares)
4. In calculating net assets per share, shares of the Company remaining in the trust, which are recorded
as treasury shares under shareholders’ equity, are included in treasury shares deducted from the total
number of shares issued as of the end of period (112 thousand shares for the previous fiscal year and
107 thousand shares for the fiscal year under review).
In addition, in calculating basic earnings per share, such treasury shares are included in treasury
shares deducted when calculating the average number of shares during the period (121 thousand
shares for the previous fiscal year and 108 thousand shares for the fiscal year under review).
(Significant subsequent events)
Not applicable.

154. Others(1) Purchases and Sales
Purchases
Item name(Thousand yen)
For the fiscal year ended
March 31, 2022

Year-on-year change (%)

FA equipment

31,131,045–

Information and communicationequipment

5,425,124–Electronics and devices

6,142,573–

Materials for electric facilities

8,972,366

–

Total

51,671,110–

Notes: 1. Amounts of less than one thousand yen are rounded down.
2. The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement
No. 29), etc. from the beginning of the fiscal year under review. Accordingly, the year-on-yearchange in values before the application of the above accounting standard, etc. is not provided.
Sales(Thousand yen)
Item nameFor the fiscal year ended
March 31, 2022

Year-on-year change (%)

FA equipment

34,881,739–

Information and communicationequipment

6,048,374–

Electronics and devices

7,616,883–

Materials for electric facilities

11,143,855

–

Total

59,690,852–

Notes: 1. Amounts of less than one thousand yen are rounded down.
2. The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement
No. 29), etc. from the beginning of the fiscal year under review. Accordingly, the year-on-yearchange in values before the application of the above accounting standard, etc. is not provided.
(2) Changes in Officers(i) Changes in representatives
Newly appointed representative directors (on April 1, 2022)
Takefumi Takaya, Representative Director and Senior Managing Director
Sokichi Yasutake, Representative Director and Senior Managing Director(ii) Other changes in officers (planned for June 28, 2022)
1. Candidates for new director
Kazuhiro Minegishi, Director
Masahiro Nakajima, Director and Audit & Supervisory Committee Member (currently Director)

16

(Note) Candidates for new director, Messrs. Kazuhiro Minegishi and Masahiro Nakajima are Outside
Directors.
2. Directors who are slated to retire
Shigeru Suzuki, Director
Masahiro Nakajima, Director
Kenji Sada, Director and Audit & Supervisory Committee Member
Hiroaki Sasaki, Director and Audit & Supervisory Committee Member

17