November 25, 2021

Consolidated Financial Review
for the Third Quarter Ended October 31, 2021
［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 & Chief Executive Officer
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: December 9, 2021
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 third quarter ended October 31, 2021（2/1/2021-10/31/2021）（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 yen79.0(48.9)

1,640
481

Nine months ended 10/31/21
80,45515.5
1,507
Nine months ended 10/31/20
69,659 (14.3)
841
Note: Comprehensive income
Nine months ended 10/31/21:
1,773
million yen (Nine months ended 10/31/20:(16)
million yen (Profit attributable toowners of parent－%)－%)

Net income per share

Millions of yen ％Yen1,206 179.7
431 (60.2)

Nine months ended 10/31/21
Nine months ended 10/31/20

％

240.4
(71.0)

Fully diluted
net income per share
Yen

68.39
17.51

64.59
17.46（２）Consolidated financial position

As of 10/31/21
As of 1/31/21

Total assets

Net assets

Millions of yen

Millions of yen％

Yen

65,132
59,33639,25337,99260.2
64.0

2,115.46
2,188.90(Reference) Equity
As of 10/31/21:
As of1/31/21:

Equity ratio

39,213 million yen
37,948 million yen

1Net assets per share２．Dividends
Threemonthsended(Base date)Year ended 1/31/21
Year ending 1/31/22

Sixmonthsended

Yen

Yen－－－

Year ending 1/31/22 (Estimate)NinemonthsendedYear
ended

Yen

60.00
60.00
－－－－

TotalYen

Yen

120.00－60.00180.00－120.00

Note: Revision to dividend forecast for this period: None
３．Financial forecast for the year ending January 31,2022（2/1/2021-1/31/2022）
Note: Percentages indicated changes from the same period of previous year.

Operatingprofit

Net sales
Millions of yen

Year ending
1/31/22

100,000％

4.4

Millions of yen

2,000％

57.9

Ordinary profit

Profitattributable toowners of parent

Millions of yen

Millions of yen

1,950

Note: Revisions to financial forecast for this period: None2％

115.4

1,350

Net income pershare％

Yen67.576.50

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)
October 31,2021: 26,800,000 shares
January 31,2021: 26,800,000 shares② Number of shares of treasury shares:
October 31,2021: 8,263,407 shares
January 31,2021: 9,463,367 shares③ Average number of shares outstanding as of:October 31,2021: 17,647,021 shares
October 31,2020: 24,643,518 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 31,2022
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, 2021

As ofOctober 31, 2021

AmountAmount（Assets）
Current Assets
Cash and deposits

7,644

7,828

Notes and accounts receivable - trade

25,48428,070999: December 8, 2017
11,614: 150

501
16,648

1,535

1,446

(6)

(5)

47,42354,562

214

208

Goodwill

599

551

Other

245

268

Total intangible assets

844

820

8,143

6,628

39

52

Retirement benefit asset

1,520

1,568

Other

1,804

1,711

Allowance for doubtful accounts

(653)

(420)

10,854

9,539

11,913

10,56959,336

65,132

Securities

Due date of submitting of quarterly financial statement
Merchandise and finished goods
Due date of starting delivery of dividends
Work in process

Other
Supplementarymaterials for the quarterly financial results: None: NoneAllowance for doubtful accounts
Total current assets

71

Non-current assets
Property, plant and equipment
Intangible assets

Investments and other assets
Investment securities
Deferred tax assets

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

4Consolidated Balance Sheets(Millions of yen)
As ofJanuary 31, 2021

As ofOctober 31, 2021

AmountAmount（Liabilities）
Current liabilities
Notes and accounts payable - trade

11,263

12,706

Short-term borrowings

6,637

9,346

Income taxes payable

92305

Accrued consumption taxes

231

37

Provision for bonuses

264

554

Other

1,335

1,361

Total current liabilities

19,82524,311Long-term borrowings

79－

Deferred tax liabilities

919

1,065

Retirement benefit liability

212

215

Other

308

285

1,518

1,567

21,34425,879

Capital stock

13,672

13,672

Capital surplus

13,336

13,336

Retained earnings

33,46031,056

Treasury shares(24,461)(21,360)

Total shareholders' equity

36,00636,705

2,119

2,382

(0)

0

Foreign currency translation adjustment

(126)

189

Remeasurements of defined benefit plans

(50)

(63)

1,941

2,508

43

39

Total net assets

37,992

39,253

Total liabilities and net assets

59,336

65,132

Non-current liabilities

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

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Total accumulated other comprehensive income
Share acquisition rights

5Consolidated Statements of Income(Millions of yen)

Net sales
Cost of sales
Gross profit

Nine months ended
October 31, 2020

Nine months ended
October 31, 2021

AmountAmount69,65962,874
6,784

80,45572,872
7,582

(0)
2,234
380
64
301
169
2,792
5,942
841

(0)
2,341
488
143
299
111
2,691
6,075
1,507

23
93
1－
58
71
248

14
67
0
3
125
25
236

29
35
42
11
0
478
10
608
481

66
4－
72－
23
103
1,640

201
47
248

24－
24

172
119
291
439
58(50)
7431
431

23－
23
1,641
410
23
434
1,206
1,206

Selling, general and administrative expenses
Provision of allowance for doubtful accounts
Salaries and bonuses
Provision for bonuses
Retirement benefit expenses
Rent expensesDepreciation
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Purchase discounts
Foreign exchange gains
Gain on investments in investment partnerships
Other
Total non-operating income
Non-operating expenses
Interest expenses
Sales discounts
Foreign exchange losses
Commission expenses
Loss on abandonment of non-current assets
Commission for purchase of treasury shares
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of investment securities
Gain on contribution of securities to retirement benefit trust
Total extraordinary income
Extraordinary losses
Loss on sales of investment securities
Settlement package
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

6

Consolidated Statements of Income and Consolidated Comprehensive Statements of Income(Consolidated Comprehensive Statement of Income)(Millions of yen)

Nine months ended
October 31, 2020

Nine months ended
October 31, 2021

AmountAmount431

1,206(250)

262

(0)

0Foreign currency translation adjustment(173)

315Remeasurements of defined benefit plans, net of tax

(24)

(12)

Total other comprehensive income

(448)

566

(16)

1,773

Comprehensive income attributable to owners of parent

(16)

1,773

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)

Nine months ended
October 31, 2020

Nine months ended
October 31, 2021

AmountAmountComposition(%)

Increase(Decrease)

Composition(%)

Semiconductors/Devices

35,03250.3

45,72356.8

10,690ICT/Solutions

34,626

49.7

34,732

43.2

105

Total

69,659100.0

80,455100.0

10,7968