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, 2022
[Japanese GAAP] (Consolidated)
May 13, 2022
Company name: Tatsuta Electric Wire & Cable Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Stock Code: 5809
URL: https://www.tatsuta.com
Representative: Hirohito Miyashita, President and Representative Director
Contact: Masafumi Imai, Director, Executive Officer, General Manager of Accounting and Finance Department
Phone: +81-6-6721-3011
Scheduled date of General Meeting of Shareholders: June 17, 2022
Scheduled date of filing Annual Securities Report: June 17, 2022
Scheduled date of commencing dividend payments: May 30, 2022
Availability of supplementary briefing material on annual financial results: Available
Schedule of annual financial results briefing session: Scheduled (for institutional investors, analysts and journalists)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Year Ended March 31, 2022 (April 1, 2021 to March 31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2021

Operating income

Ordinary income

Income attributable toowners of parent
Million yen%

Million yen%

Million yen%

Million yen%

59,8619.8

2,885(18.3)

3,114(14.2)

2,330(11.9)

54,516

(6.3)

3,532

(6.6)

3,629

(7.4)

2,645

(3.5)

(Note) Comprehensive income: Fiscal year ended March 31, 2022: 2,380 million yen [(38.6) %]Fiscal year ended March 31, 2021: 3,874 million yen [107.2%]
Yen

Diluted earnings
per share
Yen

Rate of return on
equity
%

37.72

–

4.9

5.4

4.8

42.83

–

5.8

6.5

6.5

Income per share
Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2021

Return on assets%

Operatingincome ratio%(Reference) Equity in earnings of affiliates: Fiscal year ended March 31, 2022: NA
Fiscal year ended March 31, 2021: NA(2) Consolidated Financial Position

As ofMarch 31, 2022
As ofMarch 31, 2021

Total assets
Million yen

Net assets
Million yen

58,65456,961Equity ratio%

Net assets per share
Yen

48,16982.1

779.6846,901

82.3

759.14(Reference) Equity: As of March 31, 2022: 48,169 million yen
As of March 31, 2021: 46,901 million yen(3) Consolidated Cash Flows

Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2021

Net cash provided by(used in) operating
activities
Million yen

Net cash provided by(used in) investing
activities
Million yen

Net cash provided by(used in) financing
activities
Million yen

Cash and cash
equivalents at end of
periodMillion yen(3,061)

4,178(1,112)

1,389

5,153

(3,952)(1,212)1,444

2. Dividends
Annual dividends
1st quarter-end
Yen

2nd quarter-end
Yen

3rd quarter-end
Yen

–

9.00

–
–

Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023
(Forecast)Year-end

Total
Yen

Yen

–

9.00

18.00

9.00

–

9.00

18.00

9.00

–

9.00

18.00

Total dividend
Dividend payout Dividend on equity
paid out
ratio (consolidated)(consolidated)
Million yen%%
Fiscal year ended
March 31, 2020
Fiscal year ended
March 31, 2021
Fiscal year ending
March 31, 2022
(Forecast)

1,112

42.0

2.4

1,112

47.7

2.3

41.2

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 toMarch 31, 2023)(% indicates changes from the previous corresponding period.)
Net sales
Million yen
First half
Full year

34,70069,700Operating income% Million yen
17.2
16.4

1,900
3,600

%
11.5
24.8

Ordinary income
Million
yen
1,950
3,700

%
6.5
18.8

Incomeattributable toowners of parent
Million
%
yen
1,450
8.7
2,700
15.8

Incomeper share
Yen
23.47
43.70

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: Yes
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, 2022
70,156,394 shares
As of March 31, 2021
70,156,394 shares2) Total number of treasury shares at the end of the period:
As of March 31, 2022
8,375,147 shares
As of March 31, 2021
8,374,360 shares
3) Average number of shares during the period:
Fiscal year ended March 31, 2022
61,781,630 sharesFiscal year ended March 31, 2021
61,782,316 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
The earnings forecasts and other forward-looking statements herein are based on information available to theCompany and certain assumptions deemed reasonable as at the date of publication of this document and should
not be interpreted as any kind of guarantee or promise by the Company to achieve such forecasts. In addition,
actual results may differ significantly from these forecasts due to a wide range of factors.
The supplemental financial information is scheduled to be disclosed on the TDnet on that same day as well ason 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 .................................................................. 4(3) Overview of cash flows for the fiscal year under review ............................................................................ 4(4) Basic policy on distribution of profits and dividends for the current term and next term ............................... 4
2. Overview of Group Operations................................................................................................................................ 5
3. Basic Approach to the Selection of Accounting Standards ...................................................................................... 8
4. Consolidated Financial Statements and Notes ......................................................................................................... 9(1) Consolidated Balance Sheets ............................................................................................................................. 9(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income .......................11(3) Consolidated Statements of Changes in Equity................................................................................................ 13(4) Consolidated Statements of Cash Flows .......................................................................................................... 15(5) Notes to the consolidated financial statements................................................................................................. 17(Notes on the going concern assumption) ........................................................................................................ 17(Notes on important matters for the preparation of consolidated financial statements) ................................... 17(Changes in accounting policies) ...................................................................................................................... 20(Segment information, etc.) .............................................................................................................................. 21(Per share information) ..................................................................................................................................... 26(Important subsequent events) .......................................................................................................................... 26

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 Japanese economy saw gradual mitigation of the harshsituation owing to the impact of COVID-19 despite the ongoing influence of the shortage of semiconductors,
there remained signs of recovery in areas including corporate earnings, capital investment, personal consumption,and production. In the world economy as well, although the shortage of semiconductors continued, expectations
for phased resumption and recovery of economic activities were increasing as the impact of COVID-19
decreased. However, the future outlook is even more uncertain due to growing concerns over a further rise inenergy and raw material prices caused by Ukraine crisis, in addition to a prolonged shortage of semiconductor
supply, a sharp rise in resource and raw material prices, and ongoing impact of COVID-19.
Domestic quotation prices for copper, the main raw material used for the Company’s products, have been
rising since the beginning of the previous fiscal year, causing the average domestic quotation prices for copper
during the fiscal year under review, to be on levels significantly higher compared to the previous fiscal year.
At the same time, demand for electric wires for infrastructure has been on a recovery trend from the significant
decline during the previous fiscal year due to the impact of COVID-19, though the demand has waned into thesecond half of the year. In the equipment wire and cable business, a recovery in demand continued. Although thesales of smartphones, the main usage of functional films, continued strong, the materials demand was affected by
reduced demand for products for mobile terminals other than smartphones compared to the previous fiscal year,
semiconductor supply shortfalls, and the inventory adjustments by users, etc.

In this environment, net sales for the fiscal year under review increased to 59,861 million yen (up 9.8% year
on year). Operating income was 2,885 million yen (down 18.3% year on year), ordinary income was 3,114
million yen (down 14.2% year on year), and income attributable to owners of parent was 2,330 million yen(down 11.9% year on year).
Fiscal year ended
March 31, 2021
(previous fiscal year)(Millions of yen, unless otherwise stated)
Fiscal year ended
Year on year
March 31, 2022
change(fiscal year under review)

Net sales

54,51659,861

9.8%

Operating income

3,532

2,885

(18.3)%

Ordinary income
Income attributable to owners ofparent

3,629

3,114

(14.2)%

2,645

2,330

(11.9)%

An overview of the Group’s business performance by segment is as follows:[Electric Wire and Cable Business]
Fiscal year ended
March 31, 2021
(previous fiscal year)
Net sales(Millions of yen, unless otherwise stated)
Fiscal year ended
Year on year
March 31, 2022
change(fiscal year under review)

33,00740,400

22.4%

409

750

83.5%

Operating income1Although demand of electric wires for infrastructure, adversely affected by COVID-19, was on a recovery
trend, it slowed down into the second half of year due to conservative buying following a prolonged hike incopper prices, the sales volume declined from the previous fiscal year (down 2.3% year on year). Meanwhile,owing to factors such as the significant increase in copper prices, and a recovery in demand at some customers
for equipment wire and cable, segment net sales were 40,400 million yen (up 22.4% year on year). Operating
income was 750 million yen (up 83.5% year on year) due to revenue recovery in the equipment wire business aswell as improved sales mix and cost reduction related to electric wires for infrastructure, etc., despite a rise in
raw materials prices and the effect of copper price movement.
[Electronic Materials Business](Millions of yen, unless otherwise stated)
Fiscal year ended
March 31, 2021
(previous fiscal year)

Fiscal year ended
March 31, 2022
(fiscal year under review)

Year on yearchangeNet sales

19,595

17,247(12.0)%

Operating income

3,813

2,705

(29.0)%

Demand for functional films, our flagship products, saw a decline in sales volume (down 15.9% year on year)
mainly for tablets, owing to factors such as the effects of inventory adjustments by users and semiconductor
supply shortfalls. Furthermore, mass production of products such as functional paste was delayed, though some
progress was made in the certification process of such products. As a result, segment net sales were 17,247
million yen (down 12.0% year on year). Operating income was 2,705 million yen (down 29.0% year on year)
due to an increase in depreciation, etc. despite our cost reduction efforts.
[Other Businesses](Millions of yen, unless otherwise stated)
Fiscal year ended
March 31, 2021
(previous fiscal year)
Net sales
Operating income

Fiscal year ended
Year on year
March 31, 2022
change(fiscal year under review)

1,946

2,243

15.2%

39

139

256.0%

Medical equipment materials business launched new products at the end of the fiscal year, however, sales
were sluggish due some delays in the plan. Meanwhile, sensor, and environmental analysis businesses saw an
ongoing recovery in demand for their products and services, and segment net sales were 2,243 million yen (up15.2% year on year) and operating income was 139 million yen (up 256.0% year on year).
(ii) Earnings forecasts for the next term
The future outlook is uncertain for both the domestic and global economy at present due to factors such as
Ukraine crisis, semiconductor supply shortfalls, a sharp rise in energy and raw material prices, and concerns
over the spread of new COVID-19 variants. However, we expect phased resumption and recovery of economic
activities to continue.
The Company’s businesses are anticipated to post higher sales and income mainly due to a phased easing of2

semiconductor shortfall and recovery of economic activities impacted by COVID-19, despite soaring energy
and raw material prices. On the other hand, we are expected to fall far behind the targets set under the second
period Medium-term Management Plan, mainly because energy and raw material prices are rising and revenue
contribution from for-growth business is delayed. Under the third period Medium-term Management Plan to be
formulated in this fiscal year, we will validate and update the targets of the 2025 Long-Term Vision and thetiming to deliver them, given the current situations.
The products and services we provide are necessary for the development of the IoT, AI, and 5G
communications, as well as the advance of medical, and our view that demand will expand in the medium andlong term remains unchanged despite uncertain and harsh business environment. We will address various issues
and diligently promote sales expansion and product development initiatives, in line with the recovery of theeconomic activities affected by COVID-19.
Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023
(Millions of yen)

Net sales

Operating income

Ordinary income

Income attributable toowners of parent

First half

34,700

1,900

1,950

1,450

Full year(Reference)
Fiscal year ended
March 31, 2022

69,700

3,600

3,700

2,700

59,861

2,885

3,114

2,330

3

(2) Overview of financial position for the fiscal year under review
Total assets at the end of the fiscal year under review increased by 1,692 million yen from the end of the previous
fiscal year to 58,654 million yen mainly due to increases in notes and accounts receivable – trade, and finishedgoods, despite a decrease in short-term loans receivable.
Total liabilities increased by 423 million yen from the end of the previous fiscal year to 10,484 million yen
primarily as a result of an increase in notes and accounts payable – trade.
Total net assets increased by 1,268 million yen from the end of the previous fiscal year to 48,169 million yen
mainly due to an increase in retained earnings, resulting from 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 82.1%.
(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 1,389 million yen, a decrease of 55 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 used in operating activities amounted to 3,061 million yen, a decrease in cash inflow of 8,214 million
yen from the previous fiscal year, with cash outflow factors such as an increase in trade receivables of 4,920
million yen and an increase in inventories of 2,889 million yen, partially offset by cash inflow factors such as
income before income taxes of 3,189 million yen and depreciation of 1,980 million yen.
(Cash flows from investing activities)
Net cash provided by investing activities amounted to 4,178 million yen, a decrease in cash outflow of 8,131
million yen from the previous fiscal year, with cash inflow factors such as a net decrease in short-term loans
receivable of 6,893 million yen, partially offset by cash outflow factors such as purchase of property, plant andequipment of 2,673 million yen.
(Cash flows from financing activities)
Net cash used in financing activities amounted to 1,112 million yen, a decrease in cash outflow of 99 million
yen, mainly due to cash dividends paid of 1,112 million yen.
(4) Basic policy on distribution of profits and dividends for the current term and next term
The Company’s basic policy on dividends, etc., is to provide stable dividend payments on a continuing basiswith a target of a dividend payout ratio of 30%. It makes a determination by comprehensively taking trends ofbusiness performance and future capital expenditures into consideration. The Company intends to pay the yearend dividend of 9 yen per share, resulting in a total dividend of 18 yen per share for the year including the interim
dividend.
As for the next fiscal year, the Company intends to pay a total dividend of 18 yen per share with an interim
dividend of 9 yen and a year-end dividend of 9 yen.
4

2. Overview of Group Operations
The Company’s Group is comprised of the Company and six subsidiaries, and is engaged in the electric wire and cablebusiness, the electronic materials business, as well as the sensor and medical products business, and the environmental
analysis business etc.
The details of businesses of the Company’s Group and the positioning of subsidiaries in each business segment are as
follows.
Reporting segment

Details of businessElectric Wire andElectric wire and cable business Manufacturing andCable Businesssales of wires for infrastructure and general industrial

Primary company(s)The Company

machinery
Equipment wire and cable business Manufacturing

The Company, Chugoku Electricand sales of wires for FAs and precision industrial

Wire & Cable Co., Ltd., Tatsuta

machinery

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

Electronic Materials

Functional films business

The Company

Business

Manufacturing and sales of EMI shielding film etc.
for electronic equipment
Functional paste business

The Company

Manufacturing and sales of conductive paste, etc. forelectronic equipment

Other Businesses

Bonding wire business

The Company, TATSUTA

Manufacturing and sales of ultra-fine bonding wires

ELECTRONIC MATERIALS

for wiring of electronic parts

MALAYSIA SDN. BHD.

Sensor & medical products business(Sensor business)
Manufacturing and sales 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)
Manufacturing and sales of equipment, components,and materials for medical use, including sensors,
tubes, and wires for medical use.

5

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

6

The Group’s business organization chart is as follows:

Subsidiaries of other affiliate
Pan Pacific Copper Co., Ltd., etc.
Subsidiary* Chugoku Electric Wire & Cable Co., Ltd.
(manufacture, sale)

Subsidiary* Changzhou Tatsuta Chugoku Electric Wire & Cable
Co., Ltd.
(manufacture, sale)

Subsidiary* Tatsuta Tachii Electric Cable Co., Ltd.
(manufacture, sale)
Subsidiary* Tatsuta Environmental Analysis Center Co., Ltd.
(service provision)
Subsidiary* Tatsuta Welfare Service Co., Ltd.
(service provision)

Note 1
Note 2

Subsidiary* TATSUTA ELECTRONIC MATERIALSMALAYSIA SDN. BHD.
(manufacture, sale)* Consolidated subsidiaries
Products
Services
Materials

7

Customers

Manufacture and Sales

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.

84. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2021
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

9

As of March 31, 2022

1,444
14,457
2,491
5,304
1,244
12,5791,271(13)38,7801,389
19,419
3,957
6,127
1,869
5,686
1,235
(13)
39,671

19,375(11,765)
7,610
23,152(19,795)
3,357
3,127
(2,772)
355
3,799
606
15,72820,358(12,053)
8,305
23,722(20,463)
3,259
3,300
(2,883)
417
3,721
522
16,225

138
9
5
5
158

146
9
5
4
165

922
11
986
566
(193)
2,293
18,181
56,961

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

(Millions of yen)
As of March 31, 2021
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

10

As of March 31, 2022

3,757
928
1,469
541
979
7,676

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

900
1,301
70
1
109
2,383
10,060

900
1,302
68
1
91
2,363
10,4846,676
4,516
37,717(2,458)46,452

6,676
4,516
38,936(2,458)47,670

212
414
(62)
(114)
449
46,901
56,961

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

(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
Royalty income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sale of investment securities
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on abandonment of non-current assets
Total extraordinary losses
Income before income taxes
Income taxes – current
Income taxes – deferred
Total income taxes
IncomeIncome attributable to owners of parent

11

Previous fiscal year
(From April 1, 2020 toMarch 31, 2021)
54,516
41,301
13,215
9,682
3,532

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

15
18
–
18
24
42
119

17
20
112
9
31
50
243

6
6
8
22
3,629

6
–
7
13
3,114

0
17
18

–
244
244

–
29
29
3,618
1,075
(102)
972
2,645
2,645

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

Consolidated Statements of Comprehensive Income(Millions of yen)

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

12

Previous fiscal year
(From April 1, 2020 toMarch 31, 2021)
2,645

Current fiscal year
(From April 1, 2021to
March 31, 2022)
2,330

69
723
(5)
440
1,228
3,874

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

3,874

2,380

(3) Consolidated Statements of Changes in Equity
Previous fiscal year (From April 1, 2020 to March 31, 2021)(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

Retainedearnings

Treasury shares

Total
shareholders’equity

6,676

4,516

36,183(2,458)44,918(1,112)(1,112)

2,645

2,645
(0)

(0)

–

–

1,533

(0)

1,533

6,676

4,516

37,717(2,458)46,452

Accumulated other comprehensive income

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

Valuationdifference on
available-forsale securities

Deferred gains
or losses onhedgesForeigncurrencytranslation
adjustment

142

(308)

(57)

Total
Remeasurements accumulated Total net assets
of definedotherbenefit plans comprehensive
income
(555)

(779)

44,139(1,112)
2,645
(0)
69

723

(5)

440

1,228

1,228

69

723

(5)

440

1,228

2,762

212

414

(62)

(114)

449

46,90113

Current fiscal year (From April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders’ equity

Balance at beginning of
periodShare capital

Capital surplus

6,676

4,516

Retainedearnings
37,717

Treasury shares

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

Changes during period
Dividends of surplus
Income attributable toowners of parent(1,112)(1,112)

2,330

2,330

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

(0)

(0)

–

–

1,218

(0)

1,218

6,676

4,516

38,936(2,458)47,670

Accumulated other comprehensive income

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

Valuationdifference on
available-forsale securities

Deferred gains
or losses onhedges212414

Foreigncurrencytranslation
adjustment
(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

48,16914

(4) Consolidated Statements of Cash Flows(Millions of yen)Previous fiscal year
(From April 1, 2020 toMarch 31, 2021)
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Increase (decrease) in provision for environmental measures
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
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
Income taxes paid
Subsidies received
Proceeds from insurance income
Net cash provided by (used in) operating activities

3,618
1,770
304
(2)
3
(5)
(34)
(0)
(24)
–
6
(17)
34
2,026
(1,114)
(277)
(202)
29
(21)
(268)
630
6,453
27
(8)
(1,362)
44
–
5,153

15

Current fiscal year
(From April 1, 2021 toMarch 31, 2022)
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)

(Millions of yen)Previous fiscal year
(From April 1, 2020 toMarch 31, 2021)
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
Proceeds from long-term borrowings
Repayments of long-term borrowings
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

16

Current fiscal year
(From April 1, 2021 toMarch 31, 2022)(2)
1(1,793)17(49)(1,906)(219)(3,952)(151)–(2,673)
346
(62)
6,893
(173)
4,178

900
(1,000)(1,112)(0)(1,212)
(6)
(18)
1,462
1,444

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

(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)
These non-consolidated subsidiaries are excluded from the 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 the Company) 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)
Non-consolidated subsidiaries that are not accounted for by the equity method are excluded from the scope of theapplication of the equity method, because their respective 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 the scope 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 the consolidated
fiscal year.
4. Notes to accounting policies(1) Valuation basis and methods for significant assetsa) Marketable securities
Other marketable 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).

17Securities, etc. for which market quotations are unavailable
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 fixed 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 receivables
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 amounts of irrecoverable
debt based on the estimated recoverability of individual cases is recorded for specified receivables such as
doubtful receivables.
(4) Accounting methods for retirement benefits(i) 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.
(ii) 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).
(iii) 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 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 those goods and services. For domestic sales of18

products, revenue is recognized at the time of shipment when the control of 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 cash flow statement
Funds in the consolidated cash flow statement (cash and cash equivalents) consists 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.
(9) Other important matters for the preparation of consolidated financial statements
Application of consolidated tax payment system
AppliedApplication of tax effect accounting relating to transition from consolidated tax payment system to group tax
sharing system
Regarding the transition to the group tax sharing system established by the Act for Partial Revision of the
Income Tax Act, etc. (Act No. 8 of 2020) and the items reviewed on non-consolidated taxation system in line withthe transition to the group tax sharing system, in accordance with the treatment specified under Paragraph 3 of“Practical Solution on the Treatment of Tax Effect Accounting for the Transition from the Consolidated Taxation
System to the Group Tax Sharing System” (PITF No.39; March 31, 2020), the Company and its domestic
consolidated subsidiaries follow the provisions under tax laws before amendment with respect to the amounts ofdeferred tax assets and deferred tax liabilities, without applying the provisions under Paragraph 44 of“Implementation Guidance on Tax Effect Accounting” (ASBJ Guidance No. 28; February 16, 2018).
The Company will also apply, at the beginning of the next consolidated fiscal year, “Practical Solution on the19Accounting and Disclosure Under the Group Tax Sharing System” (PITF No. 42; August 12, 2021) which
stipulates income taxes, local taxes, and treatment and disclosure of tax effect accounting when applying theGroup Tax Sharing System.
(Changes in accounting policies)
1. “Accounting Standard for Revenue Recognition”, etc.
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29,
March 31, 2020; hereinafter “Revenue Recognition Standard”) and other standards from the beginning of theconsolidated fiscal year under review. The Company recognizes revenue when control of a promised good orservice is transferred to a customer in an amount that reflects the consideration to which the Company expects
to be entitled in exchange for those goods and services.
As a result of this change, revenue related to processing contract which was recognized at gross amount ischanged to a method of recognizing at net amount after judging whether the role (processing) of the Company
is a principal or agent in providing goods or services to a client. Consideration payable to specific customers
such as sales commissions, which was previously recognized as “Selling, general and administrative expenses”
is changed to be deducted from the transaction amount.
The Company applies the Revenue Recognition Standard, etc. in accordance with the transitional treatment
provided for in the proviso to Paragraph 84 of the Revenue Recognition Standard. The cumulative impact ofretrospectively applying the new accounting policies to prior periods is adjusted to retained earnings at the
beginning of the consolidated fiscal year under review, and there is no impact on the starting balance of the
fiscal year under review, with the new accounting policies applied from the starting balance.
As a result of this change, for the consolidated fiscal year under review, net sales decreased by 3,039 million
yen, cost of sales by 3,009 million yen, gross income by 29 million yen, and selling, general and administrative
expenses by 29 million yen. There is no impact on operating income, ordinary income and income before income
taxes.
2. “Accounting Standard for Fair Value Measurement”, etc.
The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30,
July 4, 2019; hereinafter the “Fair Value Measurement Standard”) and other standards from the beginning of theconsolidated fiscal year under review, and will prospectively apply the new accounting policies stipulated by the
Fair Value Measurement Standard, etc. in accordance with the transitional treatment provided for in Paragraph 19of the Fair Value Measurement Standard and Paragraph 44-2 of the “Accounting Standard for Financial
Instruments” (ASBJ Statement No. 10, July 4, 2019). There is no impact on the consolidated financial statements
for the consolidated fiscal year under review.

20

(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 film, 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. Profit of reportable segments figures are based on operating income. Inter-segment
revenue and transfer within the segments are based on the prevailing market price.
3 Information on amounts of sales, income or loss, assets and other items by reportable segments
Previous consolidated fiscal year (from April 1, 2020 to March 31, 2021)
Reportable segment(Millions of yen)Amounts statedin consolidated
Adjustment
financial(Note 2)statements(Note 3)

Electric
Wire and
Cable
Business

Electronic
Materials
Business

Subtotal

Other
Business(Note 1)

Net sales
Net sales to externalcustomers
Net intersegment
sales or transfer

33,007

19,59552,602

1,914

54,516–54,516

–

–

–

32

32

(32)

–

Total

33,007

19,59552,602

1,946

54,549(32)

54,516

Segment income

409

3,813

4,222

39

4,261

(729)

3,532

Segment assets

25,226

11,551

36,777

1,392

38,16918,79256,961

798

701

1,500

101

1,601

169

1,770

926

479

1,405

145

1,551

396

1,947

Other items
Depreciation andamortization
Increase inproperty, plant,
equipment andintangible assets

Total(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.
21

2. The adjustment is as follows:(1) The adjustment to segment income (loss) of negative 729 million yen represents 12 million yen in intersegment eliminations and negative 742 million yen of corporate expenses not allocated to each reportablesegment. Corporate expenses mainly include general administrative expenses and research expenses that are
not attributable to reportable segments.
(2) The adjustment to segment assets of 18,792 million yen represents negative 1,808 million yen in offsets against
receivables of the administrative division of headquarters and 20,601 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, equipment and intangible assets of 396 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.
Consolidated fiscal year under review (from April 1, 2021 to March 31, 2022)
Reportable segment(Millions of yen)Amounts statedin consolidated
financialstatements(Note 3)

Subtotal

Other
Business(Note 1)

Total

Adjustment(Note 2)

17,24757,6482,213

59,861–

59,861

–

–

–

29

29

(29)

–

40,40017,24757,6482,243

59,891(29)

59,861

Segment income

750

2,705

3,456

139

3,596

(710)

2,885

Segment assets

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

Electric
Wire and
Cable
Business

Electronic
Materials
Business

Net sales
Net sales to externalcustomers
Net intersegment
sales or transfer

40,400

Total

Other items
Depreciation andamortization
Increase inproperty, plant,
equipment andintangible assets(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 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 to reportable segments.
22(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, 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.
4. As disclosed in “Changes in accounting policies”, the Company applied the “Accounting Standard for Revenue
Recognition", etc. from the consolidated financial statements for the consolidated fiscal year under review, andchanged the accounting method for revenue recognition. Accordingly, the Company also changed the method for
calculating segment income (loss) for business segments.
With this change, as compared to the previous method, net sales of Electric Wire and Cable Business for the
consolidated fiscal year under review decreased by 3,039 million yen, however, there is no impact on segment
income.

23

[Related Information]
Previous consolidated fiscal year (from April 1, 2020 to March 31, 2021)
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

35,53011,3203,566
4,053(Note) 1. Net sales are segmented by country or region based on customer location.

Total
45

54,516(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 name11,077 Electric Wire and Cable Business

Consolidated fiscal year under review (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 Business24

[Information on impairment loss on fixed assets by reportable segment]
Previous consolidated fiscal year (from April 1, 2020 to March 31, 2021)
N/A
Consolidated fiscal year under review (from April 1, 2021 to March 31, 2022)
N/A[Information on amortization of goodwill and unamortized balance by reportable segment]
Previous consolidated fiscal year (from April 1, 2020 to March 31, 2021)
N/A
Consolidated fiscal year under review (from April 1, 2021 to March 31, 2022)
N/A[Information on gain on negative goodwill by reportable segment]
Previous consolidated fiscal year (from April 1, 2020 to March 31, 2021)
N/A
Consolidated fiscal year under review (from April 1, 2021 to March 31, 2022)
N/A

25

(Per share information)
Previous consolidated fiscal year
(from April 1, 2020 to March 31, 2021)

Consolidated fiscal year under review(from April 1, 2021 to March 31, 2022)

Net assets per share759.14 yen Net assets per share

779.68yen

Net income per share

42.83 yen Net income per share

37.72 yen

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

There is no diluted net 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 the46,901 million yen
consolidated balance
sheet
Amount deducted fromthe total amount in– million yen
net assets

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

Net assets on commonsharesNumber of commonshares at the end of
61,782 thousand sharesfiscal year

2. Net income per share
Net income (loss)
attributable toowners of parent inconsolidated
statements ofincomeAmount not attributable
to common shares
Net income (loss)
attributable toowners of parent oncommon shares
Average number ofcommon shares
during the period

2. Net income per share
Net income (loss)
attributable toowners of parent in
2,645 million yen
consolidated
statements ofincomeAmount not attributable– million yen
to common shares
Net income (loss)
attributable to2,645 million yen
owners of parent oncommon shares
Average number ofcommon shares
61,782 thousand shares
during the period

46,901 million yen(Important subsequent events)
N/A

26

48,169 million yen– million yen

48,169 million yen
61,781 thousand shares

2,330 million yen– million yen
2,330 million yen
61,781 thousand shares