This document has been translated from the Japanese original for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, theoriginal shall prevail. The Company assumes no responsibility for this translation or for direct,
indirect or any other forms of damages arising from the translation.

Financial Results for the Year Ended March 31, 2023
[Japanese GAAP] (Consolidated)
May 11, 2023
Company name: Tatsuta Electric Wire & Cable Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Stock Code: 5809
URL: https://www.tatsuta.com
Representative: Hiroya Yamada, President and Representative Director
Contact: Masafumi Imai, Director, Senior Executive Officer, General Manager of Accounting and Finance
Department
Phone: +81-6-6721-3011
Scheduled date of General Meeting of Shareholders: June 23, 2023
Scheduled date of filing Annual Securities Report: June 23, 2023
Scheduled date of commencing dividend payments: —Availability of supplementary briefing material on annual financial results: Available
Schedule of annual financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2022

Operating income

Ordinary income

Income attributable toowners of parent% Million yen%

Million yen%

Million yen%

Million yen

61,4762.7

1,701(41.0)

1,864(40.1)

967(58.5)

59,8619.8

2,885(18.3)

3,114(14.2)

2,330(11.9)(Note) Comprehensive income: Fiscal year ended March 31, 2023: 825 million yen [(65.3) %]Fiscal year ended March 31, 2022: 2,380 million yen [(38.6) %]Income per share
Yen
Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2022

Diluted income
Rate of return on
Operating income
Return on assets
per share
equity
ratio
%
%
%
Yen

15.67

–

2.0

3.2

2.8

37.72

–

4.9

5.4

4.8

(Reference) Equity in earnings of affiliates: Fiscal year ended March 31, 2023: NA
Fiscal year ended March 31, 2022: NA(2) Consolidated Financial Position

As ofMarch 31, 2023
As ofMarch 31, 2022

Total assets
Million yen

Net assets
Million yen

58,45758,654%

Net assets per share
Yen

47,88281.9

775.04

48,16982.1

779.68(Reference) Equity: As of March 31, 2023: 47,882 million yen
As of March 31, 2022: 48,169 million yen

Equity ratio

(3) Consolidated Cash FlowsNet cash provided by Net cash provided by Net cash provided by(used in) operating(used in) investing(used in) financing
activities
activities
activities
Million yen
Million yen
Million yen
Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2022

Cash and cash
equivalents at end of
periodMillion yen

1,877

(855)

(1,112)

1,246(3,061)

4,178(1,112)

1,389

2. Dividends
Annual dividends
1st quarter-end
2nd quarter-end
3rd quarter-end
Yen
Yen
Yen
Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024
(Forecast)Year-end

Total
Yen

Yen

–

9.00

–

9.00

18.00

–

9.00

–

0.00

9.00

–

–

–

–

–

Total dividend paid
Dividend payout Dividend on equity
out
ratio (consolidated)(consolidated)
Million yen%%
Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024
(Forecast)

1,112

47.7

2.3

556

57.4

1.2

–

For the dividend for the fiscal year ending March 31, 2023, please refer to the “Notice Regarding Revision of
Dividend Forecast (No Dividend) for the Fiscal Year Ending March 31, 2023” published on December 21, 2022.
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 toMarch 31, 2024)
As announced in the Notice on Position Statement concerning Planned Commencement of a Tender Offer by JX
Nippon Mining & Metals Corporation, a Wholly-owned Subsidiary of ENEOS Holdings, Inc., for Shares of theCompany released on December 21, 2022, the Company’s stock is planned to be delisted. A consolidated financial
results forecast for the fiscal year ending March 31, 2024 is therefore not presented.
Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting
in changes in scope of consolidation): No
Newly added: NA
Excluded: NA(2) Changes in accounting principles, changes in accounting estimates and retrospective restatement
1) Changes in accounting principles due to the revision of accounting standards: No
2) Changes in accounting principles other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No

(3) Total number of issued shares (common stock)1) Total number of issued shares at the end of the period (including treasury shares):
As of March 31, 2023
70,156,394 shares
As of March 31, 2022
70,156,394 shares2) Total number of treasury shares at the end of the period:
As of March 31, 2023
8,376,022 shares
As of March 31, 2022
8,375,147 shares
3) Average number of shares during the period:
Fiscal year ended March 31, 2023
61,781,050 sharesFiscal year ended March 31, 2022
61,781,630 shares* These consolidated financial results are outside the scope of audit by a certified public accountant or an audit
corporation.
* Explanation of the proper use of financial results forecast and other notes
As announced in the Notice on Position Statement concerning Planned Commencement of a Tender Offer by
JX Nippon Mining & Metals Corporation, a Wholly-owned Subsidiary of ENEOS Holdings, Inc., for Shares of
the Company released on December 21, 2022, the Company’s stock is planned to be delisted. A consolidated
financial results forecast for the fiscal year ending March 31, 2024 is therefore not presented.
The supplementary briefing material on annual financial results is scheduled to be disclosed on the TDnet onthat same day as well as on the Company’s website.

Table of Contents of Reference Materials
1. Overview of Business Results, etc. ............................................................................................................... 1(1) Overview of business results for the fiscal year under review .................................................................... 1(2) Overview of financial position for the fiscal year under review .................................................................. 2(3) Overview of cash flows for the fiscal year under review ............................................................................ 3(4) Basic policy on distribution of profits ...................................................................................................... 3
2. Overview of Group Operations ..................................................................................................................... 4
3. Basic Approach to the Selection of Accounting Standards .............................................................................. 5
4. Consolidated Financial Statements and Notes ................................................................................................ 8(1) Consolidated Balance Sheets .................................................................................................................. 8(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income .................... 10(3) Consolidated Statements of Changes in Equity ....................................................................................... 12(4) Consolidated Statements of Cash Flows................................................................................................. 14(5) Notes to the consolidated financial statements ........................................................................................ 16(Notes on the going concern assumption) ................................................................................................ 16(Notes on important matters for the preparation of consolidated financial statements) ................................. 16(Segment information, etc.) .................................................................................................................... 19(Per share information) .......................................................................................................................... 24(Important subsequent events) ................................................................................................................ 24

1. Overview of Business Results, etc.
(1) Overview of business results for the fiscal year under review(i) Operating results for the period under review
During the current fiscal year under review, as the movement restrictions due to the COVID-19 pandemic
were lifted, the Japanese economy saw signs of moderate recovery in corporate earnings, capital investment,
production, personal consumption, etc. The world economy is also expected to continue improving modestly as
the impact of COVID-19 decreases, although the economy in some regions is at a standstill. However, downside
risks are increasing due to volatility in the financial and capital markets and rising prices amid ongoing global
monetary tightening, resource and raw material prices fluctuating at high levels, the prolonged Russia-Ukraine
crisis, and the lingering effects of restraints on economic activity in China.
The average domestic quotation price for copper, the main raw material used for the Company’s products,
during the fiscal year under review was on levels higher compared to the previous fiscal year.
In the meantime, demand for electric wires for infrastructure was on levels lower compared to the previous
fiscal year, while in the industrial equipment wire business, a recovery in demand from some users continued.
Sales volume of smartphones, the main usage of functional films, remained weak due to a global price increase,a slowdown of the Chinese economy, the effects of lockdowns in the country, etc. The materials demand wasaffected by sluggish product sales, shortfalls in semiconductors and other components and materials, inventory
adjustments by users, etc.

In this environment, net sales for the fiscal year under review amounted to 61,476 million yen (up 2.7% year
on year). Operating income was 1,701 million yen (down 41.0% year on year), ordinary income was 1,864
million yen (down 40.1% year on year), and income attributable to owners of parent was 967 million yen (down
58.5% year on year).
The Company is currently listed in the Tokyo Stock Exchange Inc. as of the end of the fiscal year under review.
As announced in the Notice on Position Statement concerning Planned Commencement of a Tender Offer by JX
Nippon Mining & Metals Corporation, a Wholly-owned Subsidiary of ENEOS Holdings, Inc., for Shares of theCompany released on December 21, 2022, JX Nippon Mining & Metals Corporation plans to commence thetender offer for shares of the Company as soon as the prospect for clearance of competition laws of relevant
countries becomes probable. The details of the schedule will be notified promptly after the determination.
Through the tender offer and subsequent series of procedures, the Company is planned to become a whollyowned subsidiary of JX Nippon Mining & Metals Corporation, and the Company’s stock is planned to be delisted.
The Company will develop synergies, including efficient utilization of management resources of bothcompanies; further enhancement of business competitiveness in the electronic materials area; and enhancementof business foundation in the electric wire and cable area, in an effort to increase corporate value.

An overview of the Group’s business performance by segment is as follows:[Electric Wire and Cable Business]
The sales volume of electric wires for infrastructure declined from the previous fiscal year (down 9.2% year
on year) as customers continued conservative buying due to higher copper prices, and competition intensified,1

fueled by selling price revisions implemented in response to rising raw material prices. Meanwhile, owing to theincrease in copper prices, a continued recovery in demand at some customers for industrial equipment wires,etc., segment net sales were 43,975 million yen (up 8.8% year on year). Operating income was 768 million yen(up 2.3% year on year) due to efforts to secure profits by increasing sales of industrial equipment wires, making
progress on selling price revisions, reducing costs, etc., despite a decrease in sales of electric wires forinfrastructure, an increase in costs attributable to a rise in raw material and energy prices, the effect of copper
price movement, etc.

[Electronic Materials Business]
Demand for functional films, our flagship products, decreased (down 13.5% year on year) due to lower sales
volume for smartphones, the main usage of functional films, lockdowns in China, shortfalls in semiconductors
and other components and materials, inventory adjustments by users, etc. As a result, segment net sales were
15,064 million yen (down 12.7% year on year). Operating income was 1,463 million yen (down 45.9% year onyear) due to an increase in costs attributable to a rise in raw material and energy prices, etc. in addition to adecrease in sales volume despite our efforts to reduce costs, losses, etc.

[Other Businesses]
The sensor, medical equipment materials, and environmental analysis businesses saw an ongoing recovery indemand. Segment net sales were 2,463 million yen (up 9.8% year on year), and operating income was 161
million yen (up 15.6% year on year).

(ii) Earnings forecasts for the next term
As announced in the Notice on Position Statement concerning Planned Commencement of a Tender Offer by
JX Nippon Mining & Metals Corporation, a Wholly-owned Subsidiary of ENEOS Holdings, Inc., for Shares of
the Company released on December 21, 2022, the Company’s stock is planned to be delisted. A consolidated
financial results forecast for the fiscal year ending March 31, 2024 is therefore not presented.
(2) Overview of financial position for the fiscal year under review
Total assets at the end of the fiscal year under review decreased by 196 million yen from the end of theprevious fiscal year to 58,457 million yen mainly due to a decrease in short-term loans receivable despite anincrease in notes and accounts receivable - trade.
Total liabilities increased by 91 million yen from the end of the previous fiscal year to 10,575 million yen
primarily as a result of an increase in accounts payable - other.
Total net assets decreased by 287 million yen from the end of the previous fiscal year to 47,882 million yen
mainly due to a decrease in retained earnings, resulting from dividends paid despite the posting of income
attributable to owners of parent.
As a result, the equity ratio decreased by 0.2 percentage points from the end of the previous fiscal year to
81.9%.

2

(3) Overview of cash flows for the fiscal year under review
Cash and cash equivalents (hereinafter referred to as “funds”) at the end of the fiscal year under review
amounted to 1,246 million yen, a decrease of 142 million yen from the end of the previous fiscal year.

Overall cash flows and the reasons therefor are as follows:(Cash flows from operating activities)
Net cash provided by operating activities amounted to 1,877 million yen, an increase in cash inflow of 4,938
million yen from the previous fiscal year, with cash inflow factors such as depreciation of 1,993 million yen andincome before income taxes of 1,331 million yen, partially offset by cash outflow factors such as an increase intrade receivables of 1,533 million yen and income taxes paid of 819 million yen.

(Cash flows from investing activities)
Net cash used in investing activities amounted to 855 million yen, an increase in cash outflow of 5,033 million
yen from the previous fiscal year, with cash outflow factors such as purchase of property, plant and equipmentof 1,707 million yen, partially offset by cash inflow factors such as a net decrease in short-term loans receivableof 1,074 million yen.

(Cash flows from financing activities)
Net cash used in financing activities amounted to 1,112 million yen, an increase in cash outflow of 0 million
yen, mainly due to dividends paid of 1,112 million yen.

(4) Basic policy on distribution of profits
The Company’s basic policy on dividends, etc., was to provide stable dividend payments on a continuingbasis with a target of a dividend payout ratio of 30%. It made a determination by comprehensively taking trendsof business performance and future capital expenditures into consideration.
However, as announced in the Notice on Position Statement concerning Planned Commencement of a Tender
Offer by JX Nippon Mining & Metals Corporation, a Wholly-owned Subsidiary of ENEOS Holdings, Inc., for
Shares of the Company released on December 21, 2022, the Company’s stock is planned to be delisted. The
price of the offer, etc. in the tender offer was comprehensively judged and determined based on the assumptionthat the year-end dividend with a record date of March 31, 2023 would not be paid. The Company therefore
resolved at the Company’s Board of Directors meeting held on December 21, 2022 that it would not pay a yearend dividend with a record date of March 31, 2023.
The dividend for the fiscal year under review will thus be 9 yen per share (the interim dividend).

32. Overview of Group Operations
The Company’s Group is comprised of the Company and six subsidiaries, and is engaged in the electric wire andcable business, the electronic materials business, as well as the sensor & medical products business, the environmental
analysis business, etc.
The details of the businesses of the Company’s Group and the positioning of subsidiaries in each business segment
are as follows.
Reportable segment
Electric Wire andCable Business

Details of businessPrimary company(s)The Company

Infrastructure wire business
Manufacture and sale of electric wires forinfrastructure, including construction, power
plants, power distribution, etc.
Industrial equipment wire business

The Company, Chugoku Electric

Manufacture and sale of electric wires for

Wire & Cable Co., Ltd., Tatsuta

industrial machinery and FAs

Tachii Electric Cable Co., Ltd.,
Changzhou Tatsuta Chugoku Electric
Wire & Cable Co., Ltd.

Electronic Materials

Functional films businessBusiness

Manufacture and sale of EMI shielding film, etc. for

The Company

electronic equipment
Functional paste business

The Company

Manufacture and sale of conductive paste, etc. forelectronic equipment

Other Businesses

Bonding wire business

The Company, TATSUTA

Manufacture and sale of ultra-fine bonding wires for

ELECTRONIC MATERIALS

wiring of electronic parts

MALAYSIA SDN. BHD.

Sensor & medical products business(Sensor business)
Manufacture and sale of water leakage detection
systems, intrusion monitoring systems, access
control systems, and other equipment systems, aswell as visible wavelengths fiber devices, opticalfiber couplers, and other photo-electronics products(Medical equipment materials business)
Manufacture and sale of equipment, components, andmaterials for medical use, including sensors, tubes,
and wires for medical use.

4

The Company

Environmental analysis business

Tatsuta Environmental Analysis

Measurement and analysis of water quality, air,Center Co., Ltd.

noise, vibration, and odor; research and analysis of
toxic substance, soil pollution, and asbestos

5The Group’s business organization chart is as follows:

Subsidiaries of other affiliates
Pan Pacific Copper Co., Ltd., etc.

Subsidiary* Chugoku Electric Wire & Cable Co., Ltd.
(contract processing)
Subsidiary* Changzhou Tatsuta Chugoku Electric Wire & Cable
Co., Ltd.
(manufacture and sale)
Subsidiary* Tatsuta Tachii Electric Cable Co., Ltd.
(contract processing)
Subsidiary* Tatsuta Environmental Analysis Center Co., Ltd.
(service provision)
Subsidiary* Tatsuta Welfare Service Co., Ltd.
(service provision)
Subsidiary* TATSUTA ELECTRONIC MATERIALSMALAYSIA SDN. BHD. (manufacture and sale)Note 1
Note 2* Consolidated subsidiaries
Products
Services and contract processing
Materials

6

Customers

Manufacture and Sale

The Company

Other affiliates
ENEOS Holdings, Inc.
JX Nippon Mining & Metals Corporation

3. Basic Approach to the Selection of Accounting Standards
The policy of the Group is to prepare its consolidated financial statements under the Japanese standards, inconsideration of the comparability of its consolidated financial statements between periods and other factors.
Meanwhile, we intend to address the future application of IFRS in a timely and appropriate manner upon taking
both internal and external environments into consideration.

74. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - tradeFinished goods
Work in process
Raw materials and supplies
Short-term loans receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
LandConstruction in progress
Total property, plant and equipment
Intangible assets
Software
Software in progress
Right to use facilities
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term prepaid expenses
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

8

As of March 31, 2023

1,389
19,419
3,957
6,127
1,869
5,686
1,235
(13)
39,671

1,246
20,973
3,852
6,653
1,822
4,611
613
(12)
39,761

20,358(12,053)
8,305
23,722(20,463)
3,259
3,300
(2,883)
417
3,721
522
16,22520,653(12,144)
8,508
24,477(21,444)
3,032
3,379
(3,008)
371
3,721
295
15,929

146
9
5
4
165

136
15
4
1
157

1,082
2
1,030
659
(181)
2,591
18,98258,654

1,067
0
1,190
521
(169)
2,609
18,69658,457

(Millions of yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Accounts payable - otherAccrued expenses
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Asset retirement obligations
Deferred tax liabilities
Other
Total non-current liabilities
Total liabilities
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
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

9

As of March 31, 2023

3,883
815
1,518
456
1,446
8,121

4,279
1,243
1,381
87
939
7,931

900
1,302
68
1
91
2,363
10,484

900
1,572
42
1
127
2,644
10,575

6,676
4,516
38,936(2,458)47,6706,676
4,516
38,792(2,459)47,525

216
232
(63)
113
499
48,16958,654

249
131
(55)
31
356
47,88258,457

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

Net sales
Cost of sales
Gross income
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on disaster
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Compensation for forced relocation
Gain on sale of investment securities
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
Loss on sale of non-current assets
Loss on abandonment of non-current assets
TOB related expenses
Total extraordinary losses
Income before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
IncomeIncome attributable to owners of parent

10

Previous fiscal year
(From April 1, 2021 toMarch 31, 2022)
59,86147,475
12,386
9,501
2,885

Current fiscal year
(From April 1, 2022 toMarch 31, 2023)
61,47650,197
11,279
9,577
1,701

17
20
112
31
60
243

12
22
90
6
50
183

6
–
7
13
3,114

8
5
6
20
1,864

–
–
244
244

101
6
0
108

–
4
165
–
169
3,189
927
(68)
858
2,330
2,330

406
0
44
189
641
1,331
456
(92)
363
967
967

Consolidated Statements of Comprehensive Income(Millions of yen)Previous fiscal year
(From April 1, 2021 toMarch 31, 2022)
2,330

IncomeOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

11

Current fiscal year
(From April 1, 2022 toMarch 31, 2023)
967

4
(182)
(0)
228
50
2,380

32
(101)
7
(82)
(142)
825

2,380

825

(3) Consolidated Statements of Changes in Equity
Previous fiscal year (From April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders’ equity

Balance at beginning of
periodChanges during period
Dividends of surplus
Income attributable toowners of parent
Purchase of treasury
sharesNet changes in items
other than shareholders’equityTotal changes during period
Balance at end of period

Share capital

Capital surplus

6,676

4,516

Retainedearnings
37,717

Treasury shares

Total
shareholders’equity(2,458)46,452(1,112)(1,112)

2,330

2,330
(0)

(0)

–

–

1,218

(0)

1,218

6,676

4,516

38,936(2,458)47,670

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at beginning of
periodChanges during period
Dividends of surplus
Income attributable toowners of parent
Purchase of treasury
sharesNet changes in items
other than shareholders’equityTotal changes during period
Balance at end of period

212

Deferred gains
or losses onhedgesForeigncurrencytranslation
adjustment

414

(62)

Total
Remeasurements accumulated Total net assets
of definedotherbenefit plans comprehensive
income(114)

449

46,901(1,112)
2,330
(0)
4

(182)

(0)

228

50

50

4

(182)

(0)

228

50

1,268

216

232

(63)

113

499

48,16912

Current fiscal year (From April 1, 2022 to March 31, 2023)(Millions of yen)
Shareholders’ equity

Balance at beginning of
periodShare capital

Capital surplus

6,676

4,516

Retainedearnings
38,936

Treasury shares

Total
shareholders’equity(2,458)47,670Changes during period
Dividends of surplus
Income attributable toowners of parent(1,112)(1,112)967

967

Purchase of treasury
sharesNet changes in items
other than shareholders’equityTotal changes during period
Balance at end of period

(0)

(0)

–

–

(144)

(0)

(144)

6,676

4,516

38,792(2,459)47,525

Accumulated other comprehensive income

Balance at beginning of
periodChanges during period

Valuationdifference on
available-forsale securities

Deferred gains
or losses onhedges

216

232

Total
Remeasurements accumulated Total net assets
of definedotherbenefit plans comprehensive
incomeForeigncurrencytranslation
adjustment
(63)

113

499

48,169Dividends of surplus
Income attributable toowners of parent
Purchase of treasury
sharesNet changes in items
other than shareholders’equityTotal changes during period

32

(101)

7

(82)

(142)

(142)

32

(101)

7

(82)

(142)

(287)

Balance at end of period

249

131

(55)

31

356

47,882(1,112)
967
(0)

13

(4) Consolidated Statements of Cash Flows(Millions of yen)Previous fiscal year
(From April 1, 2021 toMarch 31, 2022)
Cash flows from operating activities
Income before income taxes
Depreciation
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Loss (gain) on sale and valuation of investment securities
Subsidy income
Insurance claim income
Compensation for forced relocation
Interest expenses
Loss (gain) on sale of non-current assets
Loss on abandonment of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in other assets
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other
Increase (decrease) in accrued expenses
Increase (decrease) in accrued consumption taxes
Increase (decrease) in other liabilities
SubtotalInterest and dividends received
Interest paid
Proceeds from compensation for forced relocation
Income taxes paid
Subsidies received
Proceeds from insurance income
Net cash provided by (used in) operating activities

3,189
1,980
307
(10)
(11)
(38)
–
(31)
(12)
–
6
(240)
170
(4,920)(2,889)
(38)
165
(57)
48
(17)
276
(2,123)27(6)–(1,003)31
12(3,061)

14

Current fiscal year
(From April 1, 2022 toMarch 31, 2023)
1,331
1,993
167
(14)
(12)
(35)
399
(6)
(15)
(101)
8
(0)
43
(1,533)
(361)
311
377
136
(138)
324
(325)
2,548
25
(8)
109
(819)
6
15
1,877

(Millions of yen)Previous fiscal year
(From April 1, 2021 toMarch 31, 2022)
Cash flows from investing activities
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Net decrease (increase) in short-term loans receivable
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Dividends paid
Purchase of treasury shares
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

15

Current fiscal year
(From April 1, 2022 toMarch 31, 2023)(151)–(2,673)
346
(62)
6,893
(173)
4,178

(52)
17
(1,707)
1
(49)
1,074
(138)
(855)

(1,112)(0)(1,112)
(60)
(55)
1,444
1,389

(1,112)(0)(1,112)
(51)
(142)
1,389
1,246

(5) Notes to the consolidated financial statements(Notes on the going concern assumption)
N/A(Notes on important matters for the preparation of consolidated financial statements)
1. Scope of the consolidation(1) Number of consolidated subsidiaries: 6
Chugoku Electric Wire & Cable Co., Ltd.
Tatsuta Tachii Electric Cable Co., Ltd.
Tatsuta Environmental Analysis Center Co., Ltd.
Tatsuta Welfare Service Co., Ltd.
Changzhou Tatsuta Chugoku Electric Wire & Cable Co., Ltd.
TATSUTA ELECTRONIC MATERIALS MALAYSIA SDN. BHD.
(2) Number of non-consolidated subsidiaries: 2(Reason for exclusion from the scope of consolidation)
The non-consolidated subsidiaries, namely, Tatsuta USA, Inc. and Shanghai Tatsuta Co., Ltd., are excluded fromthe scope of consolidation, because they are small in size and their respective total assets, net sales, net income(corresponding to equity held by the Company) and retained earnings (corresponding to equity held by theCompany) of these companies have little impact on the consolidated financial statements.
2. Application of the equity method
Number of non-consolidated subsidiaries that are not accounted for by the equity method: 2(Reason for non-application of the equity method)
The non-consolidated subsidiaries that are not accounted for by the equity method, namely, Tatsuta USA, Inc. andShanghai Tatsuta Co., Ltd., are excluded from the scope of the application of the equity method, because theirrespective net income (corresponding to equity held by the Company) and retained earnings (corresponding to equity
held by the Company) have little impact on the consolidated financial statements even if they are excluded from thescope of the equity method, as well as have minor significance as a whole.
3. Fiscal years, etc., of the consolidated subsidiaries
The closing date of Changzhou Tatsuta Chugoku Electric Wire & Cable Co., Ltd. and TATSUTA ELECTRONIC
MATERIALS MALAYSIA SDN. BHD., which are among the Company’s consolidated subsidiaries, is December
31. The consolidated financial statements of these consolidated subsidiaries were prepared using the financial
documents dated as of such closing date. Necessary adjustments are made on any significant transactions that took
place between this date and the consolidated closing date.
The final day of the fiscal year of other consolidated subsidiaries is the same as the closing date of theconsolidated fiscal year.
4. Notes to accounting policies(1) Valuation basis and methods for significant assetsa) Marketable securities
Available-for-sale securities
Securities other than shares, etc. for which market quotations are unavailable
Market value method based on the market value, etc., at the end of the consolidated fiscal year (anyvaluation gain or loss to be reported in a designated component of net assets; cost of sale to be computed by
the moving-average method).
Securities, etc. for which market quotations are unavailable
16

Stated at cost based on the moving average method.
b) Derivatives
Stated at fair valuec) Inventories
Stated at cost mainly using the gross monthly average method (book value is written down based on thedecreased profitability).
(2) Depreciation method of significant depreciable assetsa) Property, plant and equipment: Declining-balance method
Straight-line method for buildings (excluding facilities attached to buildings) acquired on or after April 1, 1998
and facilities attached to buildings and structures acquired on or after April 1, 2016
Useful lives of major items are as follows:
Buildings and structures: 15 to 38 years
Machinery, equipment and vehicles: 4 to 8 yearsb) Intangible assets (excluding leased assets): Straight-line method
Straight-line method for software, which is used in the Company, based on the life in the Company (5 years)(3) Standards of accounting for significant provisions
Allowance for doubtful accounts
In order to provide for losses due to doubtful receivables and bad debts, etc., an amount based on the percentageof actual historical bad debts is recorded for ordinary receivables, and the estimated amount of irrecoverable debt
based on the estimated recoverability of individual cases is recorded for specified receivables such as doubtfulreceivables.
(4) Accounting methods for retirement benefitsa) Method of attributing the projected amount of retirement benefit to the period
In calculating retirement benefit obligations, the Company uses the benefit formula method to allocate theprojected retirement benefit for the period up to the end of the consolidated fiscal year under review.
b) Method of amortizing actuarial gain and loss and past service cost
Past service cost is amortized by the straight-line method over the average remaining years of service of theemployees (11 years).
Actuarial gain and loss are written off in the year following the consolidated fiscal year in which the gain orloss is recognized by the straight-line method over the average remaining years of service of the eligible
employees (11 years).
c) Application of the simplified method to small-size companies, etc.
For some consolidated subsidiaries, a simplified method is applied for the calculation of retirement benefit
obligations and retirement benefit expenses in which the necessary retirement benefit provisions for voluntary
resignations at the end of the fiscal year are recorded as retirement benefit obligations.
(5) Accounting policy for recognition of significant revenues and expenses
The Company and its domestic consolidated subsidiaries have applied the “Accounting Standard for Revenue
Recognition” (ASBJ Statement No. 29, March 31, 2020) and the “Implementation Guideline on AccountingStandard for Revenue Recognition” (ASBJ Statement No. 30, March 26, 2021). The description of the primaryperformance obligations in our principal businesses pertaining to revenue from contracts with customers and theusual timing of satisfying the performance obligations (usual timing of recognizing revenue) are as follows:a) Electric Wire and Cable BusinessIn the electric wire and cable business, the Company manufactures and sells electric wires and cables
primarily for infrastructure, industrial machinery, and FAs.
17

The Company recognizes revenue when control of a promised good or service is transferred to a customer
in an amount that reflects the consideration to which the Company expects to be entitled in exchange for thegood or service. For domestic sales of products, revenue is recognized at the time of shipment when the controlof the goods is transferred to the client within a normal period of time.
b) Electronic Materials BusinessIn the electronic materials business, the Company manufactures and sells primarily EMI shielding film,
conductive paste, etc. for electronic equipment and ultra-fine bonding wires for wiring of electronic parts.
The Company recognizes revenue when control of a promised good or service is transferred to a customer
in an amount that reflects the consideration to which the Company expects to be entitled in exchange for thegood or service. For domestic sales of products, revenue is recognized at the time of shipment when the controlof the goods is transferred to the client within a normal period of time.
c) Other Businesses
In the other businesses, the Company manufactures and sells primarily water leakage detection systems,
intrusion monitoring systems, sensors for medical use, etc.
The Company recognizes revenue when control of a promised good or service is transferred to a customer
in an amount that reflects the consideration to which the Company expects to be entitled in exchange for thegood or service. For domestic sales of products, revenue is recognized at the time of shipment when the controlof the goods is transferred to the client within a normal period of time.
(6) Basis for the conversion of important foreign-currency assets or liabilities into Japanese yen
Monetary receivables and payables denominated in foreign currencies are translated into Japanese yen at theexchange rate at the balance sheet date. The foreign exchange gains and losses from translation are recognized inincome or loss. Assets and liabilities of overseas subsidiaries, etc., are translated into Japanese yen using the spot
exchange rate on the consolidated balance sheet date thereof. Revenue and expenses are translated into Japanese
yen using the average exchange rates of the consolidated fiscal year. The translation differences are included inforeign currency translation adjustment in the net assets section.
(7) Method of important hedge accountinga) Method of hedge accounting
The Company has adopted the deferred hedge accounting method.
b) Hedging instruments and hedged items
Hedge accounting was applied to the following hedging instruments and hedged items during the consolidated
fiscal year under review.
(Hedging instruments)(Hedged items)
Commodity derivatives
Raw materialsc) Hedging policy
Commodity derivatives are used to hedge the price fluctuation risk of raw materials in accordance with theinternal rules.
d) Method to evaluate effectiveness of hedging
The effectiveness of hedging is assessed based on the market fluctuation of hedging instruments and hedged
items through the comparison of the cumulative amount thereof for the period from the commencement ofhedging to evaluate the effectiveness thereof.
(8) Scope of funds in the consolidated statements of cash flows
Funds in the consolidated cash flow statement (cash and cash equivalents) consist of cash on hand, deposits thatcan be withdrawn at any time, and short-term investments with a maturity of three months or less when purchased
which can easily be converted to cash and are subject to little risk of change in value.
18(9) Other important matters for the preparation of consolidated financial statements
Application of group tax sharing system
The Group tax sharing system has been applied.
(Segment information, etc.)[Segment information]
1

Outline of reportable segments
The reportable segments of the Company are components of the Company about which separate financial
information is available and are evaluated regularly by the Board of Directors in deciding how to allocate resources
and in assessing performance.
The Company consists of business segments by product and service based on operating divisions and operatingcompanies. Categories of reportable segments and key products, etc., relating to the respective reportable segments
are as follows:

Reportable segment

Key products, etc.

Electric Wire and Cable Business

Bare wires, cables (for electric power, fiber optic andtelecommunication), covered wires

Electronic Materials Business

Functional films, functional paste, bonding wires

2

Basis for calculating sales, income and loss, assets, and other items by reportable segment
The method for the accounting process of reportable segments is equivalent to the method described in “Notes
on important matters for the preparation of consolidated financial statements.” Segment performance is evaluatedbased on operating income or loss. Income figures of reportable segments are based on operating income.
Intersegment revenue and transfer within the segments are based on the prevailing market price.

19

3 Information on amounts of sales, income or loss, assets, and other items by reportable segment
Previous consolidated fiscal year (from April 1, 2021 to March 31, 2022)
Reportable segment
Electric
Electronic
Wire andMaterials
Subtotal
Cable
Business
Business
Net sales
Net sales to externalcustomers
Net intersegment
sales or transfer
Total

Other
Businesses(Note 1)40,40017,24757,648–––40,40017,247

Segment income

750

Segment assets
Other items
Depreciation
Increase inproperty, plantand equipment
and intangible
assetsAdjustment(Note 2)

Total

(Millions of yen)Amounts statedin consolidated
financialstatements(Note 3)

2,213

59,861–

59,861

29

29

(29)

–

57,6482,243

59,891(29)

59,861

2,705

3,456

139

3,596

(710)

2,885

32,475

12,40944,884

1,869

46,753

11,90058,654

868

786

1,655

141

1,796

183

1,980

982

1,401

2,384

91

2,475

115

2,590

(Notes)1. The “Other Businesses” category is a business segment that is not included in the reportable segments, andcomprises the sensor & medical products business and the environmental analysis business.
2. The adjustment is as follows:(1) The adjustment to segment income (loss) of negative 710 million yen represents 12 million yen in intersegment
eliminations and 723 million yen of corporate expenses not allocated to each reportable segment. Corporate
expenses mainly include general administrative expenses and research expenses that are not attributable toreportable segments.
(2) The adjustment to segment assets of 11,900 million yen represents negative 2,266 million yen in offsets against
receivables of the administrative division of headquarters and 14,167 million yen of corporate assets notallocated to each reportable segment. Corporate assets mainly include funds to manage surplus assets (cashand short-term loans receivable), long-term investment funds (investment securities), deferred tax assets, andassets related to the administration and research divisions (general affairs, basic research), which are not
attributable to reportable segments.
(3) The adjustment to increase in property, plant and equipment and intangible assets of 115 million yen represents
capital investment including headquarters building, administration and research divisions (general affairs,
basic research).
3. Segment income is adjusted to operating income in the consolidated financial statements.

20

Consolidated fiscal year under review (from April 1, 2022 to March 31, 2023)
Reportable segment
Electric
Electronic
Wire andMaterials
Subtotal
Cable
Business
Business
Net sales
Net sales to externalcustomers
Net intersegment
sales or transfer
Total

Other
Business(Note 1)

43,975

15,06459,039–––43,975

15,064

Segment income

768

Segment assets
Other items
Depreciation andamortization
Increase inproperty, plantand equipment
and intangible
assetsAdjustment(Note 2)

Total

(Millions of yen)Amounts statedin consolidated
financialstatements(Note 3)2,436

61,476–

61,476

27

27

(27)

–

59,0392,463

61,503(27)

61,476

1,463

2,232

161

2,394

(692)

1,701

34,834

11,686

46,521

1,957

48,4789,979

58,457

839

814

1,653

164

1,818

174

1,993

934

644

1,578

93

1,671

30

1,702

(Notes)1. “Other Business” is a business segment that is not included in the reportable segments, and comprises the sensor
and medical products business and the environmental analysis business. The equipment system business and theoptical components business described in the previous year have been reorganized into the sensor and medical
products business.
2. The adjustment is as follows:(1) The adjustment to segment income (loss) of negative 692 million yen represents 12 million yen in intersegment
eliminations and negative 705 million yen of corporate expenses not allocated to each reportable segment.
Corporate expenses mainly include general administrative expenses and research expenses that are not
attributable to reportable segments.
(2) The adjustment to segment assets of 9,979 million yen represents negative 1,795 million yen in offsets against
receivables of the administrative division of headquarters and 11,774 million yen of corporate assets notallocated to each reportable segment. Corporate assets mainly include funds to manage surplus assets (cashand short-term loans receivable), long-term investment funds (investment securities), deferred tax assets, andassets related to the administration and research divisions (general affairs, basic research), which are not
attributable to reportable segments.
(3) The adjustment to increase in property, plant and equipment and intangible assets of 30 million yen represents
capital investment including headquarters building, administration and research divisions (general affairs,
basic research).
3. Segment income is adjusted to operating income in the consolidated financial statements.

21[Related Information]
Previous consolidated fiscal year (from April 1, 2021 to March 31, 2022)
1. Information by product and service
Information is omitted as similar information is disclosed in Segment Information.
2. Information by geographical area
(1) Net sales(Millions of yen)
Japan

China

South Korea

Other Asia

Other

43,363
9,977
3,354
3,101
(Note) 1. Net sales are segmented by country or region based on customer location.

Total
64

59,861(2) Property, plant and equipment
Information is omitted since amount of property, plant and equipment in Japan exceeds 90% of property, plantand equipment on the consolidated balance sheet.
3. Information by major customer(Millions of yen)
Customer name

Net sales

Sumiden HST Cable, Ltd.

Related segment name14,875 Electric Wire and Cable Business

Consolidated fiscal year under review (from April 1, 2022 to March 31, 2023)
1. Information by product and service
Information is omitted as similar information is disclosed in Segment Information.
2. Information by geographical area
(1) Net sales(Millions of yen)
Japan

China

South Korea

Other Asia

Other

46,281
8,839
3,033
3,262
(Note) 1. Net sales are segmented by country or region based on customer location.

Total
59

61,476(2) Property, plant and equipment
Information is omitted since amount of property, plant and equipment in Japan exceeds 90% of property, plantand equipment on the consolidated balance sheet.
3. Information by major customer(Millions of yen)
Customer name

Net sales

Sumiden HST Cable, Ltd.

Related segment name15,591 Electric Wire and Cable Business22

[Information on impairment loss on non-current assets by reportable segment]
Previous consolidated fiscal year (from April 1, 2021 to March 31, 2022)
N/A
Consolidated fiscal year under review (from April 1, 2022 to March 31, 2023)
N/A[Information on amortization of goodwill and unamortized balance by reportable segment]
Previous consolidated fiscal year (from April 1, 2021 to March 31, 2022)
N/A
Consolidated fiscal year under review (from April 1, 2022 to March 31, 2023)
N/A[Information on gain on negative goodwill by reportable segment]
Previous consolidated fiscal year (from April 1, 2021 to March 31, 2022)
N/A
Consolidated fiscal year under review (from April 1, 2022 to March 31, 2023)
N/A

23

(Per share information)
Previous consolidated fiscal year
(from April 1, 2021 to March 31, 2022)

Consolidated fiscal year under review(from April 1, 2022 to March 31, 2023)

Net assets per share

779.68 yen Net assets per share

775.04yen

Income per share

37.72 yen Income per share

15.67 yen

There is no diluted income per share as there are
no shares with dilutive effect.

There is no diluted income per share as there are
no shares with dilutive effect.

Basis for calculation
1. Net assets per share
Total amount in net
assets on the
consolidatedbalance sheet
Amount deducted fromthe total amount in
net assets

Basis for calculation
1. Net assets per share
Total amount in net
assets on the48,169 million yen
consolidated balance
sheet
Amount deducted from– million yen
the total amount in
net assets

Net assets on commonsharesNumber of commonshares at the end of
fiscal year

assets on common
48,169 million yen Net shares
Number of commonshares at the end of
61,781 thousand sharesfiscal year

2. Income per share
Income attributable toowners of parent inconsolidated
statements ofincomeAmount not attributable
to common shares
Income attributable toowners of parent oncommon shares
Average number ofcommon shares
during the period

2. Income per share
Income attributable toowners of parent inconsolidated
statements ofincomeAmount not attributable
to common shares
Income attributable toowners of parent oncommon shares
Average number ofcommon shares
during the period

2,330 million yen– million yen
2,330 million yen
61,781 thousand shares(Important subsequent events)
N/A

24

47,882 million yen– million yen

47,882 million yen
61,780 thousand shares

967 million yen– million yen
967 million yen
61,781 thousand shares