EXEDY Corporation (7278) FY2023 Financial Results
April 25, 2024

FY2023 Consolidated Financial Results〔IFRS〕(April 1, 2023 through March 31, 2024)(English translation extracted from the original Japanese document)
Company Name:
Code No.:
Representative:
Contact Person:

EXEDY Corporation
Listing: Tokyo Stock Exchange
7278
URL: https://www.exedy.com
Tetsuya Yoshinaga, Representative Director, President
Hiroshi Toyohara, Representative Director, Senior Executive Managing Officer,
Executive General Manager of Administrative Headquarters
Telephone:+81-72-822-1152
Scheduled Date for the General Shareholders Meeting: June 24, 2024
Scheduled Date to commence dividend payments: June 25, 2024
Scheduled Filing Date for Annual Securities Report on EDINET: June 24, 2024
Preparation of supplementary material on Yearly Financial Results : Yes
Holding of Yearly financial results briefing: Yes (For Analysts and professional investors)(Note: All amounts less than one million yen is rounded off)

1. Consolidated Financial Results for the FY2023 (April 1, 2023 to March 31, 2024)(1) Consolidated Operating Results(Percentage of change from previous year)
Revenue

FY2023
FY2022

Profitbefore Tax

Operating Profit

Profit Attributable to
Owners of Parent

ProfitMillionYen%

MillionYen%

MillionYen%

MillionYen%

MillionYen%

308,338
285,639

7.9
9.4(15,438)8,760(52.2)(13,274)
9,916(49.1)(9,090)5,236(62.1)(10,023)4,591(63.2)

Basic Earnings
per Share

Diluted Earnings
per Shareyen(213.43)
97.78

FY2023
FY2022yen-

Ratio of Profit
to Equity Attributableto Owners of Parent%

Ratio of Income
before Income Taxes
to Total Assets
%

(4.5)
2.1

(4.1)
3.0

Total
Comprehensive
IncomeMillion
Yen

%

(158)
9,643

(58.7)

Ratio of
Operating Profit
to Revenue
%
(5.0)
3.1

(Reference) Equity in Earnings of Affiliates is ¥ 50 million for FY2023 and ¥ 57 million for FY2022.

(2) Consolidated Financial Position

FY2023
FY2022

Ratio for Equity
Attributableto Owners of Parent
%
67.9
68.0

Equity Attributableto Owners of Parent

Total Assets

Total Equity

millions of yen
321,935
331,875

millions of yen
233,539
239,901

millions of yen
218,548
225,563

Equity per Share
Attributableto Owners of Parent
yen4,653.32
4,803.89(3) Consolidated Cash Flows
Cash Flows
from Operating Activities

Cash Flows
from Investing Activities

Cash Flows
from Financing Activities

Balance of Cash and Cash
Equivalents at End of Period

millions of yen
37,60927,224

millions of yen(13,407)(12,794)

millions of yen(11,406)(11,179)

millions of yen
74,04359,538FY2023
FY2022

2.

Dividends
Ratio of Dividend
to Equity
Attributableto Owners of
Parent%1.9
2.6

Annual Dividends per ShareFY2022
FY2023
FY2024(Forecast)

1st
Quarter

2nd
Quarter

3rd
Quarter

FiscalYear-end

yen
-

yen
45.00
60.00
60.00

yen
-

yen
45.00
60.00
60.00

Dividends(Total)

Total
yen
90.00
120.00120.00

Payout Ratio(Consolidate)millions of yen
4,234
5,646

%
92.0
56.4

3. FY2024 Consolidated Financial Forecast (April 1, 2024 to March 31, 2025)(Note: All amounts less than one million yen is rounded off)
(Percentage of change from previous year)

Revenue

FY2024

Profitbefore Tax

Operating Profit

millions of yen%

300,000(2.7)

millions of yen%

millions of yen

16,000-15,000

Profit Attributable to
Owners of Parent%

millions of yen-

10,000

Basic Earnings
Per Share

%

yen

-

212.92

N o t e : T h i s d o c u m e n t h a s b e e n t r a n s l a t e d f r o m t h e J a p a n e s e o r i g i n a l f o r r e f e r e n c e p u r p o s e s o n l y. I n t h e e v e n t o f a n y
discrepancy between this translated document and the Japanese original, the original shall prevail.

EXEDY Corporation (7278) FY2023 Financial Results※ General Notes(1) Changes in important subsidiaries during the period(Changes in specified subsidiaries due to changes in the scope of consolidation): Yes
New :1 company (name) Allegis LS 2023-10, a series of CGF2021 LLC, Excluded: - (name) (2) Changes in Accounting Policies, Accounting Estimations① Changes in accounting policies required by IFRS
：None
② Changes in accounting policies except ①：None③ Changes in accounting estimates：None(Note) For the details, refer to attachment p.12 “3. Consolidated Financial Statements andPrincipal Notes (5) Notes on Consolidated Financial Statements”(3) Number of Outstanding Shares (Ordinary shares)①Number of shares outstanding at the
FY2023 Q4
end of period (including treasury shares)②Number of treasury shares at the end
FY2023 Q4of period③Average number of ordinary shares
FY2023 Q4outstanding during the period

48,593,736 shares

FY2022 Q4

48,593,736 shares

1,627,767 shares

FY2022 Q4

1,639,537 shares

46,961,632 shares

FY2022 Q4

46,945,427 shares(Note) The shares held within the ESOP trust accounts (FY2023 : 81,200 shares, FY2022 : 89,800 shares) are
included in the number of Treasury Shares at the end of period. Furthermore, the shares held within the ESOP trust
accounts are included in Treasury Shares that are deducted in the calculation of the average number of shares forthe period. (FY2023 : 84,654 shares, FY2022 : 93,708 shares)※ This Financial Results are not subject to audit by certified accountants or audit corporations.
※ Regarding the appropriate use of Financial forecasts and other information
The above forecast is based on the information available, or the assumptions which the company thinks reasonable asof the release of this report. Actual results might be different from the above estimates due to subsequent changes incircumstances. Regarding to notes of usage and performance forecast assumptions, please refer to attachment p.4,
1. Overview of Operating Results etc. (4) Forward-Looking Information.

EXEDY Corporation (7278) FY2023 Financial Results

Table of Contents of Attachments
1. Overview of Operating Results etc. ……………………………………………………………………………………
(1) Overview of Operating Results for Current Period……………...………………………………………………
(2) Overview of Financial Position for Current Period...……………………………………………………………
(3) Overview of Cash Flow for the Current Period………………………………………………………………….
(4) Forward-Looking Information………………………………………………………………………………………
2. Basic Way of Thinking Regarding to Selection of Accounting Standard…………………………………………….
3. Consolidated Financial Statements and Principal Notes……………………………………………………………...
(1) Consolidated Statement of Financial Position……………………………………………………………………
(2) Consolidated Statement of Income/Consolidated Statement of Comprehensive Income …………………
(3) Consolidated Statement of Changes in Equity……………………………………………………………….…
(4) Consolidated Statement of Cash Flow…………………………………………………………………………
(5) Notes on Consolidated Financial Statements……………………………………………………………………
(Notes for Going Concern) …………………………………………………………………….………………….………
(Change of Accounting Policy) ……………………………………………………………………………………………
(Segment Information) …………………………………………………………………………………………….………
(Per Share Information) ……………………………………………………………………………………………………
(Significant Subsequent Events) ………………………………………………………………………………………….

1

2
2
3
3
4
4
5
5
7
9
11
12
12
12
12
13
13

EXEDY Corporation (7278) FY2023 Financial Results

1. Overview of Operating Results etc.
(1) Overview of Operating Results for Current Period
In the current consolidated cumulative period, the revenue increased due to passing on raw material price increase
to the selling price, and the impact of foreign exchange conversion due to depreciation of the yen. In terms of profits,
despite increase in revenue, the profitability of the AT (Automatic Automotive Drivetrain related business) segment
production facilities is expected to decline due to a significant change in the business environment, namely adecrease in demand resulting from the shift to EVs, and we have identified indication of impairment and tested for
impairment on the subject assets. As a result, the book value of the subject assets was reduced to the recoverable
value, and we recognized an impairment loss of ¥ 32.2 billion as "Other expenses”.
The results for the current consolidated fiscal year were, Revenue ¥ 308.3 Billion (increased by 7.9% from theprevious fiscal year), Operating Loss ¥ 15.4 billion (¥ 8.8 billion Operating profit in the previous fiscal year), Lossbefore tax ¥ 13.3 billion (¥ 9.9 billion Profit before tax in the previous fiscal year), Loss attributable to owners of
the parent company was ¥ 10.0 billion (¥ 4.6 billion profit attributable to owners of the parent company in theprevious fiscal year).

<Segment Information>
The summary by type of reportable segment is as follows.
[MT (Manual Automotive Drivetrain related business)]
Revenue was ¥71.6 billion (increased by 0.2% from the previous fiscal year). Segment profit was ¥9.5 billion(increased by 10.4% from the previous fiscal year) due to passing on higher costs caused by high inflation to theselling price etc.
[AT (Automatic Automotive Drivetrain related business)]
Revenue was ¥201.7 billion (increased by 11.1% from the previous fiscal year). This was due to passing on raw
material price increase to the selling price, and the impact of foreign exchange conversion due to depreciation of
the yen. Despite sales increase the segment loss was ¥25.9 billion (¥ 1.1 billion Segment loss in the previous fiscal
year) due to impairment loss. The profitability of the AT segment production facilities is expected to decline due toa significant change in the business environment, namely a decrease in demand resulting from the shift to EVs,
and we have identified indication of impairment and tested for impairment on the subject assets. As a result, thebook value of the subject assets was reduced to the recoverable value, and we recognized an impairment loss of¥ 32.2 billion as “Other expenses”.
[TS (Industrial machine Drivetrain operations)]
Revenue was ¥15.0 billion (increased by 6.7% from the previous fiscal year). Segment profit was ¥2.1 billion(increased by 32.2% from the previous fiscal year), due to increase in sales and cost reduction efforts.
[Others]
Revenue was ¥20.0 billion (increased by 7.8% from the previous fiscal year). Segment profit was ¥0.8 billion(increased by 1.5% from the previous fiscal year) due to increase in sales of motorcycle clutches in the ASEAN
region and cost reduction efforts.

<Location Information>
The summary by location is as follows.
[Japan]
Revenue was ¥125.6 billion (increased by 2.5% from the previous fiscal year). Operating loss was ¥6.4 billion (¥ 7.0
billion profit in the previous fiscal year) due to recognition of impairment loss on the company.
[Americas]
Revenue was ¥59.3 billion (increased by 17.4% from the previous fiscal year). Despite revenue increased by the
impact of exchange conversion due to depreciation of the yen, the operating loss was ¥4.2 billion (¥4.6 billion
operating loss in the previous year) due to higher costs caused by productivity decline and high inflation etc.

2

EXEDY Corporation (7278) FY2023 Financial Results[Asia and Oceania]
Revenue was ¥112.2 billion (increased by 8.2% from the previous fiscal year). Operating loss was ¥5.3 billion (¥ 6.9
billion profit in the previous fiscal year) due to recognition of impairment loss on Chinese subsidiary of the company.
[Others]
Revenue was ¥11.3 billion (increased by 25.6% from the previous fiscal year). Operating profit was ¥0.5 billion(increased by 89.4% from the previous fiscal year) due to increase in sales etc.
(2) Overview of Financial Position for Current Period.
In terms of the assets at the end of this consolidated accounting period, the total assets were ¥321.9 billion (¥331.9
billion at the end of the previous consolidated fiscal year), it decreased by ¥9.9 billion (3.0%) from the end of theprevious fiscal year. The main contents are ¥36.8 billion decrease in Tangible fixed assets and ¥10.2 billion
increased in Deferred tax assets due to recognition of impairment loss, ¥14.5 billion increased in Cash and cash
equivalents, ¥3.0 billion increased in Investments in Equity Instruments.
Total liabilities were ¥88.4 billion (¥92.0 billion at the end of the previous consolidated fiscal year), it decreased by¥3.6 billion (3.9%) from the end of the previous fiscal year. The main contents are ¥3.7 billion decrease in corporate
Bonds and borrowings due to to repayment of borrowings, ¥0.6 billion decrease in Trade and other payables and¥1.1 billion increased in Income taxes payable.
Total equity was ¥233.5 billion (¥239.9 billion in the previous consolidated fiscal year), it decreased by ¥6.4 billion(2.7%) from the end of the previous fiscal year. The main contents are ¥14.7 billion decreased in Retained earnings(¥10.0 billion decreased due to loss attributable to owners of the parent company, and ¥4.9 billion decrease due toAppropriation of surplus (dividend)), ¥7.6 billion increased in Other components of equity due to increase in theconversion difference of foreign operation due to depreciation of the yen and ¥0.7 billion increase in Non-controllinginterests. The ownership equity ratio attributable to owners of the parent company was 67.9% (68.0% at the endof the previous consolidated fiscal year).
(3) Overview of Cash Flow for the Current Period
Funds earned from cash flows from operating activities in the current consolidated fiscal year was ¥ 37.6 billion
which increased by ¥ 10.4 billion (38.1%) from the same period of the previous year (¥ 27.2 billion). This is because
Income before Income Taxes decreased by ¥ 23.2 billion, the changes in Trade and other payables decreased by¥ 3.0 billion, however, the impairment loss increased by ¥ 28.0 billion, the changes in inventories increased by¥ 3.9 billion, changes in income tax paid increased by ¥ 3.1 billion, and the changes in Trade and other receivables
increased by ¥ 1.9 billion.
Funds used for cash flows from investing activities was ¥ 13.4 billion which increased by ¥ 0.6 billion (4.8%) fromthe same period of the previous year (¥ 12.8 billion). This was due to the increase of ¥ 2.9 billion in Purchase ofinvestment securities, the decrease of ¥ 0.9 billion in Proceeds from sale of investment securities, and the decreaseof ¥ 3.1 billion in expenditures for the acquisition of tangible fixed assets.
Funds used for cash flows from financing activities was ¥ 11.4 billion which increased by ¥ 0.2 billion (2.0%) fromthe same period of the previous year (¥ 11.2 billion). This was due to the increase in expenditure of ¥ 0.5 billion
due to the dividend payment.
In addition to the above, there was the increase of ¥ 1.7 billion (¥ 0.9 billion increase in the same period of theprevious year) due to the conversion difference for cash and cash equivalents, as the results the balance of cash
and cash equivalents in the current consolidated fiscal year was ¥ 74.0 billion which increased by ¥ 14.5 billion(24.4%) from ¥ 59.5 billion at the end of the previous consolidated fiscal year.

3

EXEDY Corporation (7278) FY2023 Financial Results(4) Forward-Looking Information
Regarding the forward-Looking information, the outlook remains uncertain due to rising geopolitical risks and highinflation rates.
We expect consolidated revenue for the fiscal year ending March 31, 2025 to be slightly below the previous year's
level, as we anticipate a decrease in sales in AT (Automatic Automotive Drivetrain related business) due to theprogress of electrification, while orders mainly in MT (Manual Automotive Drivetrain related business) are expected
to remain firm.
In terms of profits, we will strive to secure profits by improving overall management efficiency, such as improving
capacity utilization rates and reducing overhead costs, along with reducing amortization costs associated with
impairment losses for the fiscal year ending March 31, 2024, and passing on higher parts, raw material, and energy
cost to selling prices.
As a result, we expect the revenue for the fiscal year ended March 2025 will be ¥300.0 billion (2.7% decrease fromthis fiscal year), operating income will be ¥16.0 billion (¥ 15.4 billion Operating loss in this fiscal year), and income
before income taxes will be ¥15.0 billion (¥ 13.3 billion Loss before income taxes in this fiscal year). Profit
attributable to owners of the parent company is expected to be ¥10.0 billion (¥ 10.0 billion Loss attributable toowners of the parent company in this fiscal year).
The exchange rate is assumed to be ¥148 yen per US dollar.

2. Basic Way of Thinking Regarding to Selection of Accounting Standard
The Group applies IFRS for the purpose of improving the international comparability of financial information in capital markets.

4

EXEDY Corporation (7278) FY2023 Financial Results

3. Consolidated Financial Statements and Principal Notes(1) Consolidated Statement of Financial Position
As of March 31, 2023

As of March 31, 2024

Millions of yen

Millions of yen

AssetsCurrent assets
Cash and cash equivalents

59,53874,043

Trade and other receivables

53,92953,513

Other financial assets

2,155

2,105

Inventories

44,19844,278Other current assets

3,634

2,949

Total current assets

163,454

176,889

Property, plant and equipment

154,632

117,824

Goodwill and intangible assets

2,939

2,412

272

1,043

1,810

4,767

Other financial assets

96

80

Deferred tax assets

6,366

16,592Retirement benefit asset

1,206

1,418

Other non-current assets

1,100

909

Total non-current assets

168,421145,047

331,875

321,935

Non-current assets

Investments accounted for using equity method
Investments in Equity Instruments

Total assets

5

EXEDY Corporation (7278) FY2023 Financial Results
As of March 31, 2023

As of March 31, 2024

Millions of yen

Millions of yen

Liabilities and equity
Liabilities
Current liabilities
Bonds and borrowings

8,228

6,348

Trade and other payables

37,78937,149Other financial liabilities

545

664

Income taxes payable

1,664

2,739

Employee benefits accruals

2,336

2,591

Provisions

2,186

2,061

Other current liabilities

3,379

3,121

Total current liabilities

56,12754,674

Bonds and borrowings

25,42323,630

Other financial liabilities

1,076

943

Retirement benefit liability

6,609

6,566

697

30

Other non-current liabilities

2,042

2,552

Total non-current liabilities

35,84833,723

91,97588,396

Share capital

8,284

8,284

Capital surplus

7,541

7,543

Treasury shares(3,709)(3,682)Other components of equity

10,63918,274Retained earnings

202,808

188,129

Total equity attributable to owners of parent

225,563

218,548

Non-controlling interests

14,33814,991

Total equity

239,901

233,539331,875

321,935

Non-current liabilities

Deferred tax liabilities

Total liabilities
EquityTotal liabilities and equity

6

EXEDY Corporation (7278) FY2023 Financial Results(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income(Consolidated Statement of Income)

FY2022

FY2023(April 1, 2022 through(April 1, 2023 throughMarch 31, 2023)

March 31, 2024)

Millions of yen

Millions of yen

Revenue

285,639

308,338

Cost of sales

240,872

254,489

Gross profit

44,76753,850

Selling, general and administrative expenses

32,89537,425

Other income

2,431

1,326

Other expenses

5,544

33,189Operating profit (loss)

8,760(15,438)

Finance income

2,149

3,277

Finance costs

1,051

1,162

57

50

Profit (loss) before tax

9,916(13,274)

Income tax expense

4,680(4,184)

Profit (loss)

5,236(9,090)

4,591(10,023)

646

933

5,236

(9,090)97.78(213.43)

Share of profit of investments accounted for using
equity method

Profit (loss) attributable to
Owners of parent
Non-controlling interests
Profit (loss)

Earnings (loss) per share
Basic and diluted earnings (loss) per share

7

EXEDY Corporation (7278) FY2023 Financial Results(Consolidated Statement of Comprehensive Income)
FY2022

FY2023(April 1, 2022 through(April 1, 2023 throughMarch, 2023)

March 31, 2024)

Millions of yen

Millions of yen

Profit (loss)

5,236(9,090)

(736)

(276)

187

275

(549)

(1)

4,952

8,923

4

9

Total of items that may be reclassified to profit or loss

4,956

8,932

Total other comprehensive income

4,406

8,931

Comprehensive income

9,643

(158)

Owners of parent

8,222(2,113)

Non-controlling interests

1,421

1,954

Comprehensive income

9,643

(158)

Other comprehensive income
Items that will not be reclassified to profit or loss
Net change in fair value of equity instruments
designated as measured at fair value through othercomprehensive income
Remeasurements of defined benefit plans
Total of items that will not be reclassified to profit orloss
Items that may be reclassified to profit or loss
Exchange differences on translation of foreign
operations
Share

of

other

comprehensive

incomeofinvestments accounted for using equity method

Comprehensive income attributable to8

EXEDY Corporation (7278) FY2023 Financial Results(3) Consolidated Statement of Changes in Equity
Previous consolidated cumulative period(April 1, 2022 through March 31, 2023)
Equity attributable to owners of parent
Other components of equity

Share capital

Capitalsurplus

Net change
in fair valueof equity
instruments
designatedasmeasured
at fair value
throughothercomprehens
ive income

Exchangedifferencesontranslationof foreign
operations

TreasurysharesRemeasurements ofdefinedbenefit plans

Millions of yen Millions of yen Millions of yen Millions of yen Millions of yen Millions of yen

8,284

7,555

(3,768)

7,274

250

-

-

-

-

4,181

(736)

187

-

-

-

4,181

(736)

187

-

(15)
-

(0)
59
-

-

(329)

(187)

Total transactions with owners

-

(15)

59

-

(329)

(187)

Total changes in equity

-

(15)

59

4,181

(1,066)

-

8,284

7,541

(3,709)11,454(815)-

Balances as of April 1, 2022
ProfitOther comprehensive income
Total
Purchase of treasury shares
Disposal of treasury shares
Dividends of surplus
Share-based payment transactions
Transfer to retained earnings

Balances as of March 31, 2023

Equity attributable to owners of parent
Other
componentsof equity

Retainedearnings

Total

Non-controllinginterests

Total

Total
Millions of yen Millions of yen

Millions of yen

Millions of yen

Millions of yen

7,524

202,160

221,756

14,267

236,023

3,631

4,591
-

4,591
3,631

646
775

5,236
4,406

3,631

4,591

8,222

1,421

9,643

(516)

(4,459)516(0)
44(4,459)-(1,350)-(0)44(5,809)-Total transactions with owners(516)(3,943)(4,415)(1,350)(5,765)

Total changes in equity

3,115

647

3,807

71

3,878

Balances as of March 31, 2023

10,639202,808

225,563

14,338239,901

Balances as of April 1, 2022
ProfitOther comprehensive income
Total
Purchase of treasury shares
Disposal of treasury shares
Dividends of surplus
Share-based payment transactions
Transfer to retained earnings

9

EXEDY Corporation (7278) FY2023 Financial Results

Current consolidated cumulative period(April 1, 2023 through March 31, 2024)
Equity attributable to owners of parent
Other components of equity

Share capital

Capitalsurplus

Net change
in fair valueof equity
instruments
designatedasmeasured
at fair value
throughothercomprehens
ive income

Exchangedifferencesontranslationof foreign
operations

TreasurysharesRemeasurements ofdefinedbenefit plans

Millions of yen Millions of yen Millions of yen Millions of yen Millions of yen Millions of yen
Balances as of April 1, 2023

8,284

7,541

(3,709)11,454

(815)

-

-

-

-

7,911

(276)

275

Profit (Loss)
Other comprehensive income

-

-

-

7,911

(276)

275

-

2
-

(1)
27
-

-

-

(275)

Total transactions with owners

-

2

27

-

-

(275)

Total changes in equity

-

2

27

7,911

(276)

-

8,284

7,543

(3,682)

19,365(1,091)-

Total
Purchase of treasury shares
Disposal of treasury shares
Dividends of surplus
Share-based payment transactions
Transfer to retained earnings

Balances as of March 31, 2024

Equity attributable to owners of parent
Other
componentsof equity

Retainedearnings

Total

Non-controllinginterests

Total

Total
Millions of yen Millions of yen
Balances as of April 1, 2023
Profit (Loss)
Other comprehensive income
Total
Purchase of treasury shares
Disposal of treasury shares
Dividends of surplus
Share-based payment transactions
Transfer to retained earnings

Millions of yen

Millions of yen

Millions of yen

10,639202,808

225,563

14,338239,901

7,910(10,023)-(10,023)
7,910

933
1,021

(9,090)
8,931

7,910

(10,023)(2,113)

1,954

(158)

(275)

(4,931)275(1)
29(4,931)-(1,301)-(1)
29(6,232)-

Total transactions with owners(275)(4,656)(4,902)(1,301)(6,203)

Total changes in equity

7,635(14,679)(7,015)653(6,362)

Balances as of March 31, 2024

18,274

188,129

218,548

14,991

233,539

10

EXEDY Corporation (7278) FY2023 Financial Results(4) Consolidated Statement of Cash Flows

Cash flows from operating activities
Profit (Loss) before tax
Depreciation and amortization
Impairment losses
Interest and dividend income
Interest expenses
Share of loss (profit) of investments accounted forusing equity method
Foreign exchange loss (gain)
Decrease (increase) in inventories
Decrease (increase) in trade and other receivables
Increase (decrease) in trade and other payables
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits

FY2022(April 1, 2022 to March 31,2023)

FY2023(April 1, 2023 to March 31,
2024)

Millions of yen

Millions of yen

9,916
19,923
4,222
(284)
833

(13,274)
19,26932,183
(407)
682

(57)

(50)

9
(549)
1,258
308
31

4
3,392
3,157
(2,708)344

35,610292(853)(7,826)42,592475(737)(4,722)

27,22437,609(4,912)

Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries resulting inchange in scope of consolidation
Other

4,796
(11,973)
82
(472)
(517)
944

(5,978)6,151(8,900)67(576)(3,430)
-

(746)

-

4

(742)

Net cash provided by (used in) investing activities(12,794)(13,407)

9,857(7,933)
1,468(8,225)(4,468)(1,877)

9,398(10,523)491(3,998)(4,927)(1,848)(11,179)(11,406)

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
Dividends paid
Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period

881

1,706

4,131
55,407

14,50559,538Cash and cash equivalents at end of period

59,53874,04311

EXEDY Corporation (7278) FY2023 Financial Results(5) Notes on y Consolidated Financial Statements(Notes for Going Concern)
Not applicable(Change in Accounting Policy)
Not applicable(Segment Information)(1) Overview of Reportable Segments
The reportable segments are components of business activities for which discrete, and such information isregularly reviewed by the Company’s Board of Directors to make decisions about the allocation of resources
and assess its performance.
The Company and its consolidated subsidiaries are mainly engaged in the manufacture and sale ofautomotive parts. From the aspects of function, technological specification and productive structure, theproduct lines of the Company are classified roughly into 3 group, "Manual Transmission Parts", "AutomaticTransmission Parts" and “Industrial machine Drivetrain Parts”. The Company, in corporation with its
consolidated subsidiaries, design business strategy and conduct business for these 3 product lines inside
Japan and overseas. Accordingly, the reportable segments of the Company are composed of 3 segments, "MT(Manual Automotive Drivetrain related business)" which manufactures and sells Manual Transmission Parts,"AT (Automatic Automotive Drivetrain related business)" which manufactures and sells Automatic Transmission
Parts and “TS (Industrial machine Drivetrain operations)” which manufactures and sells parts for construction
machinery and industrial vehicles.
(2) Information of Revenue, Profit and Loss by Segment and The Amount of Other Important Items.
Previous consolidated cumulative period (April 1, 2022 to March 31, 2023)(Million Yen)
Reportable Segment

MT

AT

TS

Total

Other
(Note 1)

Adjustments
Consolidated(Note 4)

Revenue
External Customers

71,464

181,593

14,023

267,080

18,559-285,639

298

556

52

907

5,383

(6,289)-Total

71,762

182,149

14,076

267,987

23,942(6,289)285,639

Segment Profit(Loss) (Note 3)

8,627(1,138)

1,580

9,068

772

(1,080)8,760Intersegments (Note 2)

Finance Income

2,149

Finance Costs

1,051

Share of profit of investments accounted for using equity method
Profit before Tax

57
9,916

(Note) 1. Other includes businesses which is not part of any of the reportable segments, and contain clutches
for motorcycle operation, transport operation, etc.
2. Amount of intersegments transactions is based on market price.
3. Segment profit (Loss) is based on operating profit on consolidated income statement.
4. Elimination of intersegment transactions and corporate expenses are included in adjustments.

12

EXEDY Corporation (7278) FY2023 Financial Results
Current consolidated cumulative period (April 1, 2023 to March 31, 2024)(Million Yen)
Reportable Segment

MT

AT

TS

Total

Other
(Note 1)

Adjustments
Consolidated(Note 4)

Revenue
External Customers

71,611

201,745

14,970288,326

20,012-

308,338

286

578

61

924

5,225

(6,150)-Total

71,897202,323

15,031

289,250

25,238(6,150)308,338

Segment Profit (Loss)(Note 3)

9,525(25,898)

2,088(14,284)783(1,938)(15,438)

Intersegments (Note 2)

Finance Income

3,277

Finance Costs

1,162

Share of profit of investments accounted for using equity method

50

Loss before Tax(13,274)(Note) 1. Other includes businesses which is not part of any of the reportable segments, and contain clutches
for motorcycle operation, transport operation, etc.
2. Amount of intersegments transactions is based on market price.
3. Segment profit (Loss) is based on operating Loss on consolidated income statement.
4. Elimination of intersegment transactions and corporate expenses are included in adjustments.
(Per Share Information)
Basis for calculating profit per share is as follows. There are no potentially dilutive ordinary shares during
previous consolidated fiscal year and current consolidated fiscal year.
1. Profit Attributable to Owners of Parent(Millions of yen)
FY2022(April 1, 2022 to March 31, 2023)
Profit Attributable to Owners of
Parent4,591

FY2023(April 1, 2023 to March 31, 2024)(10,023)

2. Average Number of Shares Outstanding during the Period
FY2022(April 1, 2022 to March 31, 2023)
Average Number of Shares
Outstanding during the Period

46,945,427(Significant Subsequent Events)
Not applicable.

13

FY2023(April 1, 2023 to March 31, 2024)
46,961,632