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 Three Months Ended June 30, 2022
[Japanese GAAP]
August 1, 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 filing quarterly securities report: August 8, 2022
Scheduled date of commencing dividend payments: ―Availability of supplementary briefing materials on quarterly financial results: Not available
Schedule of quarterly financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 1, 2022 – June 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Three months ended Million yen%
Million yen%
Million yen%
Million yen%
June 30, 2022
15,847
21.0
948
111.8
1,064
99.8
711
92.8
June 30, 2021
13,093
16.7
448
37.1
532
34.2
369
33.1
(Note) Comprehensive income: Three months ended June 30, 2022: ¥752 million [103.1%]
Three months ended June 30, 2021: ¥370 million [30.9%]
Basic earnings
Diluted earnings
per shareper share
Three months ended
Yen
Yen
June 30, 2022
50.93–
June 30, 2021
26.45–
(2) Consolidated Financial Position
Total assets

Net assets

Million yen

31,129As of June 30, 2022
32,736
As of March 31, 2022
(Reference) Equity: As of June 30, 2022: ¥17,013 million
As of March 31, 2022: ¥17,627 million

Equity ratio

Million yen%

17,013
17,62754.7
53.8

2. Dividends
Annual dividends
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen

Yen

Yen

Year-end

Fiscal year ended
–
25.00
–
March 31, 2022
Fiscal year ending–
March 31, 2023
Fiscal year ending
March 31, 2023
55.00–
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

Total
Yen

Yen

97.00

122.0056.00

111.003. 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
parentMillion yen%

Million yen%

Million yen%

First half
29,600 10.8
1,370 17.3
1,520 15.4
Full year
59,400 (0.5)
2,700 (11.5)
2,990 (11.2)(Note) Revision to the financial results forecast announced most recently: None

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) Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements: None
(3) 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
(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2022:
14,652,600 shares
March 31, 2022:
14,652,600 shares2) Total number of treasury shares at the end of the period:
June 30, 2022:
681,787 shares
March 31, 2022:
681,287 shares
3) Average number of shares during the period:
Three months ended June 30, 2022:
Three months ended June 30, 2021:

13,970,940 shares
13,953,393 shares* These quarterly consolidated financial results are outside the scope of quarterly review 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. Qualitative Information on Quarterly Financial Results, (3) Explanation of Consolidated Financial Results Forecast
and Other Forward-looking Information” on page 4 of the Attachments.

Table of Contents - Attachments
1. Qualitative Information on Quarterly Financial Results. ..........................................................................2(1) Explanation of Operating Results..........................................................................................................2(2) Explanation of Financial Position .........................................................................................................4(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information .....4
2. Quarterly Consolidated Financial Statements and Principal Notes ...........................................................6(1) Quarterly Consolidated Balance Sheets ................................................................................................6(2) Quarterly Consolidated Statements of Income and Comprehensive Income ........................................8(3) Quarterly Consolidated Statements of Cash Flows .............................................................................10(4) Notes to Quarterly Consolidated Financial Statements ....................................................................... 11(Notes on going concern assumption) ................................................................................................ 11(Notes in case of significant changes in shareholders’ equity) .......................................................... 11(Changes in accounting policies) ....................................................................................................... 11(Additional information) .................................................................................................................... 11
3. Others ......................................................................................................................................................12
Purchases and Sales ................................................................................................................................121

1. Qualitative Information on Quarterly Financial Results(1) Explanation of Operating Results
Regarding the Group’s operating environment during the three months ended June 30, 2022 (April 1, 2022 June 30, 2022), although the future economy has remained uncertain due to the impacts of supply chain
disruption caused by the lockdown measures in Shanghai under the zero-COVID policy in China and surging oil
prices arising from the situation in Ukraine, corporate production and capital investment demand has steadilygrown recently.
Within this environment, from the perspective of business continuity planning, while taking measures thatprioritize the health and safety of its employees, the Company has made efforts for supplying products in a stablemanner by expanding inventory, enhancing the system to receive and place orders, and maintaining its
distribution system in order to assist manufacturing processes as a “Manufacturing Support Company.”
With regard to the business results of the Group, in the electrical equipment, electronic component, andindustrial machinery industries, the principal markets of the Group, with increased orders from some customers
ahead of schedule due to fears over supply caused by the impact of shortages in semiconductors and othermembers, as well as increased sales due to increased amount of merchandises received toward the end of thefirst quarter of the current fiscal year, performance has been favorable. Especially regarding customers related
to semiconductor manufacturing equipment, the growing capital investment demand of semiconductor
manufacturers has continued, contributing to these favorable results of the Company. In terms of profit, theresults in the first quarter of the previous fiscal year were surpassed as profit increased following the increase insales.
As a result, for the three months ended June 30, 2022, net sales amounted to ¥15,847 million (up 21.0% yearon-year), operating profit was ¥948 million (up 111.8% year-on-year), ordinary profit was ¥1,064 million (up99.8% year-on-year), and profit attributable to owners of parent was ¥711 million (up 92.8% year-on-year). As
such, both sales and profit increased year-on-year.
Results by segment are as follows.
In order to enhance manufacturing functions and respond to customer request items, the Company added
facilities to Taiwa Plant (Kurokawa County, Miyagi Prefecture), and started assembly of aluminum frames forcustomers related to semiconductor manufacturing equipment from the first quarter of the current fiscal year,
which was segmented as “manufacturing business.”
Accordingly, from the first quarter of the current fiscal year, the Company, which previously had only a single
segment of “electrical and electronic components sales business”, has two segments, “electrical and electronic
components sales business” and “manufacturing business.”(Electrical and electronic components sales business)
Net sales and operating profit of the electrical and electronic components sales business amounted
respectively to ¥15,779 million (up 20.5% year-on-year) and ¥969 million (up 116.4% year-on-year).
Net sales by product segment are as follows.
(1) FA equipment
Net sales amounted to ¥9,387 million (up 18.2% year-on-year) with increased sales of RFID equipment,
PLC equipment, relay equipment, and control equipment, etc.
(2) Information and communication equipment
Net sales amounted to ¥1,205 million (up 11.0% year-on-year) with increased sales of CPUs, personal
computers for industrial use, office automation equipment accessories, etc.
(3) Electronics and devices
Net sales amounted to ¥2,215 million (up 36.4% year-on-year) with increased sales of connectors,
switching power supplies, EMI prevention products, etc.

2(4) Materials for electric facilities
Net sales amounted to ¥2,970 million (up 21.7% year-on-year) with increased sales of integrating
wattmeters, terminal blocks, electric cables, etc.
(Manufacturing business)
Net sales and operating profit of the manufacturing business amounted respectively to ¥68 million and¥(20) million.

3(2) Explanation of Financial Position
1) Assets, liabilities, and net assets(Assets)
Total assets as of June 30, 2022 amounted to ¥31,129 million, down ¥1,607 million from the end of the previous
fiscal year.
Current assets decreased by ¥1,455 million from the end of the previous fiscal year to ¥25,447 million.
This was primarily due to a ¥544 million decrease in cash and deposits and a ¥1,225 million decrease in notes
and accounts receivable - trade.
Non-current assets decreased by ¥152 million from the end of the previous fiscal year to ¥5,681 million.
(Liabilities)
Liabilities as of June 30, 2022 amounted to ¥14,115 million, down ¥993 million from the end of the previous
fiscal year.
Current liabilities decreased by ¥1,388 million from the end of the previous fiscal year to ¥12,536 million.
This was primarily due to a ¥469 million decrease in notes and accounts payable - trade and a ¥770 million
decrease in income taxes payable.
Non-current liabilities increased by ¥394 million from the end of the previous fiscal year to ¥1,578 million.
This was primarily due to a ¥400 million increase in long-term borrowings.
(Net assets)
Net assets as of June 30, 2022 amounted to ¥17,013 million, down ¥613 million from the end of the previous
fiscal year.
This was mainly due to the recording of profit attributable to owners of parent for the three months ended
June 30, 2022 of ¥711 million and dividend payments of ¥1,365 million. The equity ratio was 54.7%.
2) Cash flow
Cash and cash equivalents (hereinafter referred to as “net cash”) as of June 30, 2022 amounted to ¥5,592
million, down ¥544 million from the end of the previous fiscal year. The status of cash flows and its contributing
factors during the three months ended June 30, 2022 are as follows.
(Cash flows from operating activities)
Due to operating activities, net cash increased by ¥710 million. (Net cash decreased by ¥131 million in thesame period of the previous year)
This was mainly due to a ¥1,050 million increase in profit before income taxes, a ¥985 million decrease intrade receivables, a ¥364 million decrease in trade payables, and a ¥938 million decrease in income taxes paid.
(Cash flows from investing activities)
Due to investing activities, net cash decreased by ¥365 million. (Net cash decreased by ¥404 million in thesame period of the previous year)
This was mainly due to purchase of property, plant and equipment of ¥346 million.
(Cash flows from financing activities)
Due to financing activities, net cash decreased by ¥901 million. (Net cash decreased by ¥887 million in thesame period of the previous year)
This was mainly due to proceeds from long-term borrowings of ¥500 million and dividends paid of ¥1,352
million.

(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
In and after the second quarter of the fiscal year ending March 31, 2023, in the electrical equipment, electronic
component, and industrial machinery industries, the principal markets of the Company, production and capital
investment demand mainly in customers related to semiconductor manufacturing equipment are expected to keep
growing steadily thanks to the increasing semiconductor demand. However, due to impacts of higher prices, etc.,
associated with geopolitical risks in Europe and other factors, there is concern about business recession arisingfrom a slowdown in the global economic growth, and thus, the future demand environment is expected to be in4

an unpredictable situation.
With the above factors, in relation to the financial results forecasts for the six months ending September 30,
2022 and the fiscal year ending March 31, 2023, there is no amendment to predicted values announced in
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 [Japanese GAAP] on May 9, 2022.
The above forecasts and other forward-looking information are based on information currently available to theCompany, and actual performance, etc. may vary due to a variety of factors.
With regard to the situation of the Company’s businesses, please refer to “preliminary report on changes in
net sales” which discloses monthly net sales (on a non-consolidated basis). If there are any changes in the future,they will be disclosed appropriately.

5

2. Quarterly Consolidated Financial Statements and Principal Notes(1) Quarterly Consolidated Balance Sheets(Thousand yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims - operating
Merchandise
Inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for share-based remuneration for directors(and other officers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

6

As of June 30, 2022

6,148,188
12,073,314
4,585,551
3,657,056–
441,830(3,326)
26,902,616

5,603,921
10,847,359
4,830,934–
3,941,546
226,971(3,149)25,447,583

2,450,474
1,909,493
11,000103,569
4,474,538
113,767

2,400,171
1,909,493
11,00098,123
4,418,789
127,784

1,279,858(34,592)
1,245,265
5,833,572
32,736,188

1,169,243(34,392)
1,134,850
5,681,424
31,129,007

6,198,414
3,077,472
2,000,000
41,544
1,002,683
459,936

5,728,430
3,185,009
2,000,000
100,000
232,466
274,629

211,000

50,250933,987
13,925,038

965,882
12,536,668–

400,000

57,01060,851

927,843
199,115
1,183,969
15,109,008

919,931
197,955
1,578,738
14,115,406

(Thousand yen)
As of March 31, 2022
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

7

As of June 30, 2022

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

1,819,230
1,558,048
14,107,508(586,718)
16,898,068

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

65,46345,278
4,790
115,532
17,013,601
31,129,007

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
Three Months Ended June 30(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 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
Loss on cancellation of leases
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

For the three months ended
June 30, 2021
13,093,506
11,243,317
1,850,188

For the three months ended
June 30, 2022
15,847,696
13,429,003
2,418,692

134,217
529,087
7,380
90,42835,251
117,385
65,562
164,400
28,645
229,761
1,402,120
448,068

136,242505,551
10,046
72,60633,71282,15955,269271,767
50,250252,1091,469,715
948,977247
9,880
61,087
13,531
6,082
90,829268
14,36570,32530,752
7,499
123,211

2,279
550
1,968
1,309
6,107
532,790

3,176
623
109
3,972
7,881
1,064,307

304
304

–
–

–
–
533,094
107,786
56,262
164,049
369,045
369,045

13,455
13,455
1,050,852
208,231
131,021339,253
711,599
711,5998

Quarterly Consolidated Statements of Comprehensive Income
Three Months Ended June 30(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 three months ended
June 30, 2021
369,045

For the three months ended
June 30, 2022
711,599(9,576)
11,984(1,090)1,316
370,361

28,54813,521(1,600)40,469752,068

370,361–

752,068–9

(3) Quarterly Consolidated Statements of Cash Flows(Thousand yen)
For the three months
ended June 30, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
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 sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
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
Purchase of investment securities
Proceeds from sale of investment securities
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee deposits
Net cash provided by (used in) investing activities
Cash flows from financing activities
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

10

For the three months
ended June 30, 2022

533,094
65,562(79,733)

1,050,852
63,918(185,307)(42,055)(160,750)

1,839

3,841

998
(259)
(10,127)
2,279
(304)
(218,926)(519,954)
207,078
225,319
164,8119,969(2,260)(304,356)(131,835)(7,912)(376)(14,634)
3,176–
985,557(277,988)(364,659)
541,015
1,636,733
14,475(3,172)(938,014)
710,022(420,930)(11,779)(3,972)
31,366(440)
1,310(404,445)(346,799)(18,658)(5,715)
–
(246)
5,644
(365,775)–(125,016)(9,652)(752,670)(887,339)
9,521(1,414,099)
5,886,920
4,472,821

500,000(41,544)(7,731)(1,352,040)(901,316)
12,800(544,267)
6,137,188
5,592,921

(4) Notes to Quarterly Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Notes in case of significant changes in shareholders’ equity)
Not applicable.
(Changes in accounting policies)
The Company has applied the “Implementation Guidance on Accounting Standard for Fair Value Measurement”(ASBJ Guidance No. 31, July 17, 2021, hereinafter “Implementation Guidance on Fair Value Measurement
Standard”), etc. from the beginning of the first quarter of the current fiscal year, and plans to prospectively apply
the new accounting policy determined by the Implementation Guidance on Fair Value Measurement Standard inaccordance with the transitional treatment set forth in Paragraph 27-2 of the Implementation Guidance on Fair
Value Measurement Standard. The change has no impact on the quarterly consolidate financial statements for the
first quarter of the fiscal year ending March 31, 2023 and for the three months ended June 30, 2022.
(Additional information)(Commencement of new business)
In order to enhance manufacturing functions and respond to customer request items, the Company started
business related to assembly of aluminum frames for semiconductor manufacturing equipment at Taiwa Plant(Kurokawa County, Miyagi Prefecture) from the first quarter of the current fiscal year. Accordingly,
merchandise in Consolidated Balance Sheets became included in and presented as inventory from the firstquarter of the current fiscal year.
(Accounting estimate related to the impact of the spread of COVID-19)
There have been no material changes in the assumptions described in “(Additional Information)” under“(Accounting estimate related to the impact of the spread of COVID-19)” in the securities report of theprevious fiscal year.

113. Others
Purchases and Sales(1) Purchases
Electrical and electronic
components sales business

Manufacturing business

Total

Item nameAmount(Thousandyen)
FA equipment
Information andcommunicationequipment
Electronics anddevicesMaterials for electricfacilities

Year-on-yearchange (%)

Amount(Thousand yen)

Year-on-yearchange (%)

Amount(Thousand yen)

Year-on-yearchange (%)

8,591,008

14.3

－

－

8,591,008

14.3

838,319(11.1)－－

838,319(11.1)

1,726,996

30.0

－

－

1,726,996

30.0

2,480,883

25.3

－

－

2,480,883

25.3

－

－

50,588－50,588－

13,637,207

15.9

50,588－

13,687,796

16.3

Other
Total

Notes: 1. Amounts of less than one thousand yen are rounded down.
2. As the manufacturing business started from the first quarter of the current fiscal year, its year-onyear change is not provided.

(2) Sales
Electrical and electronic
components sales business

Manufacturing business

Total

Item nameAmount(Thousandyen)
FA equipment
Information andcommunicationequipment
Electronics anddevicesMaterials for electricfacilities
Other
Total

Year-on-yearchange (%)

Amount(Thousand yen)

Year-on-yearchange (%)

Amount(Thousand yen)

Year-on-yearchange (%)

9,387,239

18.2

－

－

9,387,239

18.2

1,205,928

11.0

－

－

1,205,928

11.0

2,215,101

36.4

－

－

2,215,101

36.4

2,970,880

21.7

－

－

2,970,880

21.7

－

－

68,546－

68,546－

15,779,149

20.5

68,546－

15,847,696

21.0

Notes: 1. Amounts of less than one thousand yen are rounded down.
2. As the manufacturing business started from the first quarter of the current fiscal year, its year-on-yearchange is not provided.

12