November 8, 2022

Osaki Electric Co., Ltd.
Tokyo Stock Exchange Prime MarketSecurities code: 6644

FY2022 First Half
Summary of Consolidated Financial Results(Six Months ended September 30, 2022)⚫

⚫
⚫

Consolidated sales increased by 9.6% in the amount of 39.6 billion yen from theprevious fiscal year. Operating income was 0.54 billion yen which increased by 16.0%.
Net income attributable to owners of parent was 1.04 billion yen compared to a loss of0.24 billion yen in the previous fiscal year, including an extraordinary income for thesale of subsidiaries in Japan and overseas.
In smart meters & solutions in Japan, sales of smart meters, solutions and switch gears
increased and profits expanded accordingly.
In smart meters & solutions overseas, while shipments to Oceania showed steady
growth, shipments to UK decreased due to electronic component shortages, resulting
in flat sales. Profits decreased due to a hike in material costs, marking an operatingloss.

1. Consolidated Financial Results(Millions of yen)
YoY Change

FY2021 1H
Net sales
Smart meters & solutions in Japan
Smart meters & solutions overseas
Production equipmentReal estate
Adjustment

Gross profit
Ratio to sales
SG & A expenses
Ratio to sales
Operating income

FY2022 1H

36,087
21,405
14,613337
277(546)
7,878

39,562
24,276
14,647761
282(405)
8,244

21.8%

20.8%

7,417

7,708

20.6%

19.5%

461

535

Amount

3,475
2,871
33424
5
140
365%

+9.6%
+13.4%+0.2%+125.8%+1.9%－+4.6%(1.0)pt

291

+3.9%

73+16.0%(1.1)pt

Ratio to sales

1.3%

1.4%

Smart meters & solutions in Japan

Adjustment366
118(162)139(0)

1,163(777)9141(1)

796
(895)
171
2(1)

+217.4%－－+1.6%－

Ordinary income

531

348(182)(34.4)%

Profit attributable to owners of parent

(236)

1,041

1,278

－

Net income per share（yen）(4.83)

21.83

26.66

－

Smart meters & solutions overseas
Production equipment
Real estate1(0.1)pt

2. Revenue by Business Portfolio (Excluding intercompany sales)（1）Smart meters & solutions in Japan(Millions of yen)
YoY Change

Smart meter business
Solution businessSwitchgear business
Total

FY2021 1H

FY2022 1H

15,0794,240
2,073
21,393

16,1325,313
2,818
24,265

Amount

1,053
1,073
745
2,872%+7.0%+25.3%+36.0%+13.4%

Full-year
Forecasts
32,00010,5006,500
49,000*Referential figures are based on managerial accounting.

Smart meter business: Sale of smart meters and measurement and control equipment
including smart meter peripheral devices for power companies.
Solution business: Providing services and products and delivering solutions tocustomers (other than power companies)
Switchgear business: Sale of switchgears（2）Smart meters & solutions overseas(Millions of yen)
YoY Change

OceaniaEuropeAsiaMiddle East and others
Total
Average exchange rate

FY2021 1H

FY2022 1H

5,093
5,743
2,734
578
14,149

6,002
4,688
2,822
793
14,307\107.82/USD\123.14/USD

Amount%908(1,054)
87
215
157

+17.8%(18.4)%+3.2%+37.2%+1.1%

Full-year
Forecasts
14,000
9,500
4,900
1,400
29,800*Calculations on each region are based on the annual securities report.

3. R&D Expenditures, Depreciation, Capital expenditures(Millions of yen)
YoY Change

R&D expenditures
Depreciation
Capital expenditures

Full-year
Forecasts

FY2021 1H

FY2022 1H

1,517
1,221

1,528
1,279

1058

+0.7%
+4.8%

3,300
2,500

872

720(152)(17.5)%

2,600

2Amount%

4. FY2022 Consolidated Forecast
For the financial year ending March 31, 2023, no change was made to the forecasts
previously announced on August 25, 2022. The Company anticipates higher
material costs in Japan while electronic component shortages continue to impact
overseas business into the latter half of the fiscal year.
(Millions of yen)
Difference (B－A)

Full-year
FY2021

FY2022
InitialForecast

FY2022
RevisedForecast

Amount%76,18480,00080,000－－46,00650,00049,000(1,000)(2.0)%

30,06829,00030,800

1,800

+6.2%

1,246

2,100

1,300(800)(38.1)%(1,137)(1,100)(1,100)－－Operating income

1,277

1,000

1,000－－

Smart meters &solutions in Japan

1,225

1,500

1,800

300

+20.0%

Smart meters &solutions overseas

58(700)(1,100)(400)－

Others

(11)

200

300

100

+50.0%

4－－－－

Ordinary income

1,189

1,100

1,100－－

Profit attributable toowners of parent(658)1,500

920(580)(38.7)%Net sales
Smart meters &solutions in Japan
Smart meters &solutions overseas
OthersAdjustment

Adjustment⚫ Forward-looking

statements made in this material are based on the management’s estimates, assumptions andprojections at the time of publication and do not represent a commitment that they will be achieved. A number of factors
may cause the actual results to differ materially from the forecasts.
⚫ All amounts are in millions of yen and rounded down, unless otherwise stated.

Financial data (Excel/PDF) are available on our website (https://www.osaki.co.jp/en/ir/finance/financialdata.html).

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