May 28, 2020

Consolidated Financial Review
for the First Quarter Ended April 30, 2020
［Japanese standards］（Consolidated)
Company name:
Headquarters address:
URL:
Stock exchange listing:Code number:Company representative:
Inquiries:

RYOYO ELECTRO CORPORATION
12-22 Tsukiji 1-chome, Chuo-ku, Tokyo 104-8408 Japan
https://www.ryoyo.co.jp
Tokyo Stock Exchange 1st Section
8068
Moritaka Nakamura, President
Masayuki Takahashi, Executive General Manager,Administration Headquaters
Tel: +81-3-3543-7711
E-mail: irmanager@ryoyo.co.jp
Due date of submitting of quarterly financial statement: June 10, 2020
Due date of starting delivery of dividends: Supplementary materials for the quarterly financial results: NoneInvestor conference for the quarterly financial results: NoneNote: Figures are rounded down to the nearest million yen.
１．Financial highlights for the first quarter ended April 30, 2020（2/1/2020-4/30/2020）（１）Consolidated operating results
Note: Percentages indicated changes from the same period of previous year.
Net sales
Millions of yen％

Operating profit

Ordinary profit

Millions of yen

Millions of yen

Three months ended 4/30/20
25,000 (9.3)
Three months ended 4/30/19
27,575 21.6
Note: Comprehensive income
Three months ended 4/30/20:(381) million yen
Three months ended 4/30/19:
958
million yen

Profit attributable toowners of parent((Yen371 (14.0)
432 37.4％

525 (16.7)
630 36.6－%)－%)

Net income per share

Millions of yen ％Three months ended 4/30/20
Three months ended 4/30/19％

511 (17.2)
617 40.1

Fully diluted
net income per share
Yen

15.13
17.63

15.05
17.51（２）Consolidated financial position

Total assets

Net assets

Millions of yenMillions of yen％

Yen

76,346
78,11760,77062,13579.5
79.4

2,468.95
2,524.47(Reference) Equity
Year ended 4/30/20:
Year ended 1/31/20:

60,668 million yen
62,033 million yen

As of 4/30/20
As of 1/31/20

Equity ratio

1

Net assets per share２．Dividends
Threemonths
ended(Base date)Year ended 1/31/20
Year ending 1/31/21

Sixmonths
endedYen

Yen－－－

Year ending 1/31/21 (Estimate)NinemonthsendedYear
ended

Yen

40.00
－60.00－－－TotalYen

Yen

40.00
－
120.0080.00－
180.00Note: Revision to dividend forecast for this period: None
３．Financial forecast for the year ending January 31,2021（2/1/2020-1/31/2021）
Note: Percentages indicated changes from the same period of previous year.

Operatingprofit

Net sales
Millions of yen

Year ending
1/31/21

105,000％(3.3)

Millions of yen

2,200％

2.1

Ordinary profit

Profitattributable toowners of parent

Millions of yen

Millions of yen

2,200

Note: Revisions to financial forecast for this period: None

2％

0.6

1,530

Net income pershare％

Yen

17.4

62.26

４．Others（1）Important changes in subsidiaries(Change on specific subsidiaries with changes in scope of consolidation): None
Newly added: －Excluded: －（2）Use of simplified accounting method and special accounting policy for the quarterly consolidated
financial reporting: None
（3）Changes in principles, procedures and method of presentation for the quarterly consolidated
financial statements① Changes in accounting policies: None
② Other changes: None
③ Changes in accounting estimate: None
④ Restatement of revisions: None
（4）Number of shares outstanding (common shares)① Number of shares of common shares issued as of:(Including treasury shares)
April
30,2020: 26,800,000 shares
January 31,2020: 26,800,000 shares② Number of shares of treasury shares:
April
30,2020: 2,227,329 shares
January 31,2020: 2,227,199 shares③ Average number of shares outstanding as of:April
30,2020: 24,572,687 shares
April
30,2019: 24,521,322 shares
Indication regarding the implementation status of the quarterly review procedure
This Financial Review is not subject to audit procedure under the Financial Instruments andExchange Act.
Caution on forecast for the year ending January 31,2021
Forecasts regarding future performance in these materials are based on information available tomanagement at the time this report was prepared. Actual results may differ significantly from thesestatements for a number of reasons.
※This financial review is only the translation of Japanese version.

3

Consolidated Balance Sheets(Millions of yen)

As ofJanuary 31, 2020

As ofApril 30, 2020

AmountAmount（Assets）
Current Assets

12,417

14,330: December 8,28,152
2017
: -

23,896

Cash and deposits
DueNotes
dateandofaccounts
submittingof quarterly
receivable- trade financial statement
Due date of starting delivery of dividends

12,59813,446

1,288

1,407

(2)

(2)

54,45353,079Property, plant and equipment

229

216

Intangible assets

311

279

Investment securities

20,33420,006Retirement benefit asset

1,627

1,643

Other

1,481

1,441

Allowance for doubtful accounts

(320)

(321)

23,122

22,771

23,66423,267

78,11776,346Merchandise and finished goods

Supplementary materials for the quarterly financial results: None
Other: None

Allowance for doubtful accounts
Total current assets
Non-current assets

Investments and other assets

Total investments and other assets
Total non-current assets
Total assets

4Consolidated Balance Sheets(Millions of yen)

As ofJanuary 31, 2020

As ofApril 30, 2020

AmountAmount（Liabilities）
Current liabilities

12,006

8,882

Short-term borrowings－3,700

Income taxes payable

730

219

Accrued consumption taxes

226

72

Provision for bonuses

467

611

Other

1,123

1,080

Total current liabilities

14,554

14,556Retirement benefit liability

182

112

Deferred tax liabilities

827

519

Other418

377

1,427

1,009

15,982

15,576

Capital stock

13,672

13,672

Capital surplus

13,336

13,336

Retained earnings

35,33734,726

Treasury shares(2,630)(2,630)Total shareholders' equity

59,715

59,104

2,141

1,431

Deferred gains or losses on hedges

(0)

(0)

Foreign currency translation adjustment

7942

Remeasurements of defined benefit plans

97

89

2,317

1,564

102

102

Total net assets

62,13560,770Total liabilities and net assets

78,11776,346

Notes and accounts payable - tradeNon-current liabilities

Total non-current liabilities
Total liabilities（Net assets）
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total accumulated other comprehensive income
Subscription rights to shares

5Consolidated Statements of Income(Millions of yen)

Net sales
Cost of sales
Gross profit

Three months endedApril 30, 2019

Three months endedApril 30, 2020

AmountAmount27,57525,023
2,552

25,00022,482
2,517

0673
165
1190
53
940
1,934
617

(0)
737
163
21
97
65
921
2,006
511

19
14
1
15
455

910
13935

136
0
40
43
630

6
70
43
21
525－－－

47
1967－－66624
235
(43)
192
432
432

394－
43
549
168
8
177
371
371

Selling, general and administrative expenses
Provision of allowance for doubtful accounts
Salaries and bonuses
Provision for bonuses
Retirement benefit expenses
Rent expenses
Depreciation
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Purchase discounts
Gain on investments in investment partnerships
Other
Total non-operating income
Non-operating expenses
Sales discounts
Foreign exchange losses
Loss on abandonment of non-current assets
Commission expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on contribution of securities to retirement benefit trust
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Settlement package
Loss on sales of investment securities
Loss on valuation of investment securities
Total extraordinary losses
Income before income taxes and minority interests
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent6Consolidated Statements of Income and Consolidated Comprehensive Statements of Income(Consolidated Comprehensive Statement of Income)(Millions of yen)Three months endedApril 30, 2019

Three months endedApril 30, 2020

AmountAmount432

371

563(709)00

Foreign currency translation adjustment

(22)

(36)

Remeasurements of defined benefit plans, net of tax

(14)

(8)

Total other comprehensive income

526(753)

958

(381)

Comprehensive income attributable to owners of parent

958(381)Comprehensive income attributable to non-controlling interests－－Profit attributable to owners of parent
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Comprehensive income(Details)

7Consolidated Sales by Product(Millions of yen)Three months endedApril 30, 2019

Three months endedApril 30, 2020

AmountComposition(%)

AmountComposition(%)

Semiconductors/Devices

12,89046.7

11,01644.1(1,873)

ICT/Solutions

14,685

53.3

13,98355.9(701)

Total

27,575100.0

25,000100.0(2,575)

8

Increase(Decrease)