(Translation)

Summary of Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2025 (J-GAAP)
August 8, 2024

Listed Company Name: Oki Electric Industry Co., Ltd.
Securities Code: 6703
Stock Exchange Listing: Tokyo Stock Exchange
URL: https://www.oki.com/
Representative: Takahiro Mori, Representative Director, Chief Executive Officer
Contact: Youji Takahashi, General Manager, Investor Relations
TEL: +81-3-5635-8212
Commencement of Dividend Payment (Scheduled): –Supplementary Document on Quarterly Financial Results: Yes
Quarterly Financial Results Briefing: Yes (for institutional investors)(Amounts less than one million yen have been truncated)1.

Consolidated Financial Results for the Three Months Ended June 30, 2024
(from April 1, 2024 to June 30, 2024)(1) Consolidated operating results (cumulative)
Net sales

Three months ended
June 30, 2024
June 30, 2023

(Note) Comprehensive income

Operating income%

Millions of yen%

Millions of yen%

Millions of yen%

97,93981,525

20.1
4.3

3,860
(10)

–
–

3,919
(293)

–
–

1,805
(156)

–
–

Three months ended June 30, 2024: ¥1,227 million ((58.7)%)
Three months ended June 30, 2023: ¥2,972 million (–%)

Yen

Three months ended
June 30, 2024
June 30, 2023

Diluted earnings per
share

Yen

20.82
(1.81)

20.80–

Consolidated financial position
Total assets

Millions of yen

As of June 30, 2024
As of March 31, 2024

418,994
423,399

Net assets

Millions of yen

Dividends
First
quarter-end

Fiscal year ended
March 31, 2024
Fiscal year ending
March 31, 2025
Fiscal year ending
March 31, 2025
(Projection)

Yen–

Secondquarter-end

Yen

Shareholders’ equity ratio

139,941
141,314(Reference) Shareholders’ equity As of June 30, 2024: ¥139,822 million
As of March 31, 2024: ¥141,174 million

2.

Profit attributable toowners of parent

Ordinary income

Millions of yen

Basic earnings per
share

(2)

(Percentage figures indicate year-on-year change)

Dividend per share
Third
quarter-end

%

33.4
33.3

Year-end

Total

Yen

Yen

Yen

0.00

–

30.00

30.00

0.00

–

30.00

30.00

–

(Note) Revisions to dividend projection most recently announced: None

Consolidated Results Projection for the Fiscal Year Ending March 31, 2025
(from April 1, 2024 to March 31, 2025)

3.

Net sales
Full year

Millions of yen

460,000

Operating income%

9.0

Millions of yen

Ordinary income% Millions of yen

16,000 (14.4)(Note) Revisions to operating results projection most recently announced: None

(Percentage figures indicate year-on-year change)%

14,500 (20.7)

Profit attributable to Basic earnings
owners of parent
per share

Millions of yen%

9,500 (63.0)

Yen

109.61

Notes:(1) Significant changes in the scope of consolidation during the period: None
Newly included: - companies (Company name)
Excluded:- companies (Company name)(2)

Adoption of accounting treatment specific to the preparation of quarterly consolidated financial
statements: None

(3) Changes in accounting policies, changes in accounting estimates and restatements
Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
1)
Changes in accounting policies due to other reasons: None
2)
Changes in accounting estimates: None
3)
Restatements: None
4)
(Note) For details, please refer to “(4)Notes to Consolidated Financial Statements (Notes on Changes in
Accounting Policies)” of “2. Consolidated Financial Statements and Significant Notes Thereto” on page 10of the Attachment.
(4) Number of shares issued (common stock)1) Number of shares issued at the end of the period (including treasury shares)
As of June 30, 2024
As of March 31, 2024
2) Number of treasury shares at the end of the period
As of June 30, 2024
As of March 31, 2024
3) Average number of shares during the period
Three months ended June 30, 2024
Three months ended June 30, 2023

87,217,602 shares
87,217,602 shares

506,358 shares
542,144 shares

86,696,254 shares
86,662,187 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified
public accountants or an audit firm: None
* Proper use of earnings forecasts, and other special matters(Warning on forward-looking statements)
The forward-looking statements including the projection for the financial results contained in this document are
based on information currently available to the Company and certain assumptions that the Company deems to bereasonable, and actual results may differ from such statements due to a variety of factors. For the conditions
assumed for the results projection and notes on the use of such projections, please refer to “(3) Forward-Looking
Statements Including Projection for Consolidated Operating Results and Other” of “1. Operating Results” on page
4 of the Attachment.
(How to obtain supplementary document on financial results)
The Company is scheduled to hold a financial results briefing for institutional investors on August 8, 2024
(Thursday). The document on financial results is disclosed on TDNet at the same time as this Summary ofConsolidated Financial Results and is also made available on the Company’s website on the same day.

Contents of the Attachment
1. Operating Results ............................................................................................................................................... 2(1) Overview of Operating Results for the Period ........................................................................................... 2(2) Overview of Financial Position for the Period........................................................................................... 4(3) Forward-Looking Statements Including Projection for Consolidated Operating Results and Other ......... 5
2. Consolidated Financial Statements and Significant Notes Thereto ................................................................... 6(1) Consolidated Balance Sheets ..................................................................................................................... 6(2) Consolidated Statements of Income and Comprehensive Income ............................................................. 7
Consolidated Statements of Income(For the Three Months Ended June 30, 2023 and 2024) ........................................................................ 7
Consolidated Statements of Comprehensive Income(For the Three Months Ended June 30, 2023 and 2024) ........................................................................ 8(3) Consolidated Statements of Cash Flows .................................................................................................... 9(4) Notes to Consolidated Financial Statements ............................................................................................ 10(Notes on Changes in Accounting Policies) ............................................................................................. 10(Notes on Segment Information) ............................................................................................................. 11(Notes on Significant Changes in Shareholders’ Equity) ....................................................................... 11(Notes on Going Concern Assumption) ................................................................................................... 11- 1 -1. Operating Results(1) Overview of Operating Results for the Period
1) Overview of the first quarter of the fiscal year ending March 31, 2025 (April 1, 2024 to June 30, 2024)
The Japanese economy has been on a moderate recovery trend due to the effects of various government
policies, with improvements in employment and the income situation. On the other hand, the outlook
remains uncertain due to factors such as rising prices resulting from soaring resource prices, theprolonged depreciation of the yen, and the stagnation of the Chinese economy.
In this environment, OKI’s vision for 2031, the 150th anniversary of the company’s founding, is toprovide value that leads to the resolution of social issues as a company that does not stop andcontribution to the maintenance of social infrastructure in the three fields of contribution: safe andconvenient social infrastructure, job satisfaction and productivity enhancement, and conservation of the
global environment. In order to realize OKI’s vision, we have started the Medium-Term Business Plan
2025, covering the period from FY2023 through FY2025. In the current fiscal year, the second year of
Medium-Term Business Plan 2025, we are accelerating cultural transformation and style change tofurther steer the Company toward growth.
Net sales for the first quarter of the fiscal year ending March 31, 2025 reached ¥97.9 billion (a year-onyear increase of ¥16.4 billion, or 20.1%), mainly due to the steady reaping of large projects that havecontinued since the second half of the previous fiscal year.
Operating income was ¥3.9 billion (a year-on-year improvement of ¥3.9 billion), mainly due to thepositive impact of increased sales and the elimination of the impact of increased parts and materials
costs in the same period of the previous fiscal year.
Ordinary income was ¥3.9 billion (a year-on-year improvement of ¥4.2 billion) due to an improvement
in foreign exchange gains and other factors, while profit attributable to owners of parent was ¥1.8 billion(a year-on-year improvement of ¥2.0 billion).
(Billions of yen)Three months ended

Three months ended

June 30, 2024

June 30, 2023

Year-on-year change rate

Net sales

97.9

81.5

20.1 %

Operating income (loss)

3.9

(0.0)

–

Ordinary income (loss)

3.9

(0.3)

–

Profit (loss) attributable to ownersof parent

1.8

(0.2)

–

Net sales to external customers and operating income by business segment were as follows.
2) Results by business segment<Public Solutions>
Net sales were almost on par with the previous year at ¥19.1 billion (a year-on-year decrease of ¥200
million, or 1.0%). There was an operating loss of ¥1.3 billion (a year-on-year deterioration of ¥1.2
billion) due to differences in product mix and other factors, but orders received during the year remainedrobust, starting the year roughly as planned.
(Billions of yen)Three months ended

Three months ended

June 30, 2024

June 30, 2023

Year-on-year change rate

Net sales

19.1

19.3

(1.0) %

Operating income(loss)

(1.3)

(0.1)

–

- 2 -

<Enterprise Solutions>
Net sales were ¥45.2 billion (a year-on-year increase of ¥17.8 billion, or 65.2%) and operating income
was ¥7.8 billion (a year-on-year increase of ¥5.9 billion, or 313.8%). Both net sales and operating
income increased significantly due to the continuation of large-scale projects from the second half of theprevious fiscal year and the elimination of the impact of increased parts and materials costs in the same
period of the previous fiscal year, among other factors.
(Billions of yen)Three months ended

Three months ended

June 30, 2024

June 30, 2023

Year-on-year change rate

Net sales

45.2

27.4

65.2 %

Operating income(loss)

7.8

1.9

313.8 %

<Component Products>
Although overseas printer demand continued to be severe, net sales reached ¥17.9 billion (a year-onyear increase of ¥900 million, or 5.2%), partly due to foreign exchange effects. Operating loss improvedto ¥100 million (a year-on-year improvement of ¥700 million) due to cost reductions and other factors.
(Billions of yen)Three months ended

Three months ended

June 30, 2024

June 30, 2023

Year-on-year change rate

Net sales

17.9

17.0

5.2 %

Operating income(loss)

(0.1)

(0.8)

–

<EMS>
Due to the ongoing decline in demand in the semiconductor market and the FA and robot markets since
the second half of the previous year, net sales were ¥15.6 billion (a year-on-year decrease of ¥2.1 billion,or 11.8%) and operating loss increased to ¥600 million (a year-on-year deterioration of ¥1.2 billion).
(Billions of yen)Three months ended

Three months ended

June 30, 2024

June 30, 2023

Year-on-year change rate

Net sales

15.6

17.7

(11.8) %Operating income(loss)

(0.6)

0.6

–

<Others>
Net sales were ¥100 million (comparable to the previous year, with a decrease of 29.8%), and operating
loss increased to ¥400 million (a year-on-year deterioration of ¥300 million), due to investments
essential for growth, including research and development aimed at creating future businesses.
(Billions of yen)Three months ended

Three months ended

June 30, 2024

June 30, 2023

Year-on-year change rate

Net sales

0.1

0.1

(29.8) %Operating income(loss)

(0.4)

(0.1)

–

- 3 -

(2) Overview of Financial Position for the Period1) Assets, liabilities, net assets, etc., at the end of the first quarter of the fiscal year ending March 31, 2025
Total assets as of June 30, 2024 decreased by ¥4.4 billion from the end of the previous fiscal year to¥419.0 billion. Shareholders' equity decreased by ¥1.4 billion from the end of the previous fiscal year to¥139.8 billion, mainly due to the payment of ¥2.6 billion in ordinary dividends, while profit attributableto owners of parent of ¥1.8 billion was recorded. As a result, the shareholders’ equity ratio was 33.4%.
Major shifts in assets primarily included a decrease of ¥22.3 billion in notes and accounts receivable trade, and contract assets, while inventories increased by ¥14.3 billion.
In terms of liabilities, borrowings primarily fell ¥6.0 billion from ¥110.0 billion as of March 31, 2024 to¥104.0 billion.
2) Cash flow for the first quarter of the fiscal year ending March 31, 2025
For the period under review, net cash provided by operating activities amounted to ¥14.3 billion (¥2.2
billion in the same period of the previous fiscal year), primarily due to a decrease in working capital.
Net cash used in investing activities came to ¥4.4 billion (¥5.9 billion used in the same period of theprevious year), mainly because of purchases of property, plant, and equipment.
As a result, free cash flow (operating cash flow plus investing cash flow) amounted to an inflow of ¥9.9
billion (compared with an outflow of ¥3.7 billion in the same period of the previous year).
Net cash used in financing activities amounted to an outflow of ¥10.4 billion (an outflow of ¥3.8 billion
in the same period of the previous year), mainly due to repayment of loans payable.
Owing to these factors, and a ¥1.0 billion positive impact of exchange rate changes on cash and cash
equivalents, the balance of cash and cash equivalents at the end of the first quarter of the fiscal year
ending March 31, 2025 was ¥34.8 billion, up from ¥34.4 billion at the end of the previous fiscal year.

- 4 -(3) Forward-Looking Statements Including Projection for Consolidated Operating Results and OtherAs the performance for the three months ended June 30, 2024 progressed largely as planned, the fullyear forecast remains unchanged from that announced on May 9, 2024. In the event that a significant
deviation from the figures in the initial plan is observed, the Company will promptly disclose this, taking
into account factors such as exchange rate fluctuations and market trends.
(Warning on forward-looking statements)
The forward-looking statements including the projection for the financial results contained in thisdocument are based on information currently available to the Company and certain assumptions that theCompany deems to be reasonable, and actual results may differ from such statements due to a variety offactors. Major factors that may affect actual results include market trends, a sharp rise in raw material
prices, abrupt currency fluctuations and disasters. It should be noted, however, that factors that may affectactual results are not limited to these items.

- 5 -2. Consolidated Financial Statements and Significant Notes Thereto(1) Consolidated Balance Sheets(Millions of yen)

As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsFinished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Provisions
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provisions
Retirement benefit liability
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
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets- 6 -As of June 30, 2024

35,04435,483

114,115

91,83017,981
17,38035,40919,776(19)239,687

25,35722,421
37,27521,323(16)
233,675

60,56915,924
107,218
183,711423,399

59,994
15,953
109,370
185,318
418,994

64,03060,012
6,346
57,980188,369

71,24653,937
6,668
53,278185,132

50,017
1,339
27,887
14,471
93,715
282,084

50,017
1,172
27,535
15,196
93,921
279,053

44,00018,96073,622(761)
135,820

44,00018,94072,826(712)
135,054

9,069(10)(7,020)
3,315
5,353
73
65
141,314423,399

7,868
8(6,169)
3,060
4,767
44
73
139,941
418,994

(2) Consolidated Statements of Income and Comprehensive Income(Consolidated Statements of Income)(For the Three Months Ended June 30, 2023 and 2024)(Millions of yen)Three months ended
June 30, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Extra retirement payments
Miscellaneous expenses
Total non-operating expenses
Ordinary profit (loss)
Extraordinary losses
Loss on disposal of non-current assets
Total extraordinary losses
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit attributable to non-controlling interests
Profit (loss) attributable to owners of parent- 7 -Three months ended
June 30, 2024

81,52564,684
16,841
16,852(10)

97,93971,614
26,325
22,465
3,860

30
383
71
110
596

210
420
794
135
1,561

506
20
351
878
(293)

568
466
467
1,502
3,919

985
985
(1,278)245(1,371)(1,125)
(153)
3
(156)

－
－
3,919
291
1,817
2,109
1,810
4
1,805

(Consolidated Statements of Comprehensive Income)(For the Three Months Ended June 30, 2023 and 2024)(Millions of yen)Three months ended
June 30, 2023
Profit (loss)
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, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests- 8 -Three months ended
June 30, 2024
(153)

1,810

2,282
(33)
998
(121)
3,125
2,972

(1,200)
19
853
(255)
(582)
1,227

2,965

1,218

6

8

(3) Consolidated Statements of Cash Flows(Millions of yen)Three months ended
June 30, 2023

Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Increase (decrease) in provisions
Interest and dividend income
Interest expenses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Proceeds from sale of investment securities
Purchase of long-term prepaid expenses
Other payments
Other proceeds
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Dividends paid
Repayments of lease liabilities
Other, net
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- 9 -Three months ended
June 30, 2024

(1,278)3,210(8,866)(414)
506
20,443(7,015)(6,100)
2,427
2,913
414
(390)
(699)
2,237

3,919
3,340
10
(630)
568
25,778(13,596)85(2,495)
16,979462(313)(2,835)
14,293(4,566)(1,129)
－
(237)
(20)
34
(5,919)(2,944)(1,343)
503
(564)
(104)
56
(4,397)1,433(2,497)(1,549)(1,256)60(3,808)(7,086)－(2,365)(1,047)49(10,448)796

960(6,694)37,49830,804408
34,422
34,830(4) Notes to Consolidated Financial Statements(Notes on Changes in Accounting Policies)(Application of "Accounting Standard for Current Income Taxes,” etc.)
The Accounting Standard for Current Income Taxes (ASBJ Statement No. 27, October 28, 2022;
hereinafter, “2022 Revised Accounting Standard”) has been applied from the beginning of the firstquarter of the current fiscal year.
With regard to the revision of the classification of corporate income taxes (taxation on othercomprehensive income), the Company adheres to the transitional treatment stipulated in the provisory
clause of Paragraph 20-3 of the 2022 Revised Accounting Standard, as well as that in the provisory
clause of Paragraph 65-2 (2) of the “Guidance on Accounting Standard for Tax Effect Accounting”(ASBJ Guidance No. 28, October 28, 2022; hereinafter referred to as the “2022 Revised Guidance”).
This change in accounting policy has no impact on the quarterly consolidated financial statements.
Additionally, with regard to the revision related to the treatment in consolidated financial statements ofgains or losses arising from the sale of subsidiary shares between consolidated companies, which may
be deferred for tax purposes, the Company has applied the 2022 Revised Guidance from the beginningof the first quarter of the fiscal year ending March 31, 2025. This change in accounting policy has been
applied retrospectively. As a result, the quarterly consolidated financial statements and consolidated
financial statements for the prior quarter and the previous fiscal year have been restated to reflect thischange. This change in accounting policy has no effect on the quarterly consolidated financial
statements for the previous quarter or the consolidated financial statements for the previous fiscal year.

- 10 -

(Notes on Segment Information)
I First quarter of the fiscal year ended March 31, 2024（From April 1, 2023 to June 30, 2023）
Information about amounts of net sales, profit and loss by reportable segment(Millions of yen)
Adjustment(Note 2)

Amount recordedon consolidated
statements ofincome(Note 3)

81,525－

81,525

2,218

4,765

(4,765)－83,9702,319

86,290(4,765)

81,525

1,553

(140)

1,413

(1,424)(10)

Reportable segments

Net sales
Net sales toexternal
Customers
Intersegment
net sales ortransfers
Total
Segment income(loss)

PublicSolutionsEnterprise
SolutionsComponent
Products

19,31027,363248

Others(Note 1)

EMS

Total

17,047

17,70381,424

100

805

1,337

154

2,546

19,55828,16918,384

17,858

(148)

1,893

(756)

564

Total

Notes: 1. “Others” consists of businesses not included in the reportable segments, such as provision of services,etc.
2. The ¥(1,424) million adjustment to segment income or loss includes the elimination of intersegment
transactions of ¥121 million, corporate expenses not allocated to each reportable segment of ¥(1,562)
million, and an adjustment to fixed assets of ¥16 million. Corporate expenses consist mainly ofgeneral and administrative expenses and R&D expenses that are not attributable to the reportablesegments.
3. Segment income or loss is adjusted with operating loss recorded on the consolidated statements ofincome.

II First quarter of the fiscal year ending March 31, 2025（From April 1, 2024 to June 30, 2024）
1. Information about amounts of net sales, profit and loss by reportable segment(Millions of yen)
Adjustment(Note 2)

Amount recordedon consolidated
statements ofincome(Note 3)97,939－97,939

2,518

4,239

(4,239)－99,5892,589

102,179(4,239)97,939

5,871

(433)

5,437

(1,577)

3,860

Reportable segments

Net sales
Net sales toexternal
Customers
Intersegment
net sales ortransfers
Total
Segment income(loss)

PublicSolutionsEnterprise
SolutionsComponent
Products

19,10845,200192

Others(Note 1)

EMS

Total

17,941

15,61997,869

70

58

1,289

180

1,720

19,30045,25919,23015,799(1,258)

7,836

(149)

(557)

Total

Notes: 1. “Others” consists of businesses not included in the reportable segments, such as provision of services,etc.
2. The ¥(1,577) million adjustment to segment income or loss includes the elimination of intersegment
transactions of ¥202 million, corporate expenses not allocated to each reportable segment of ¥(1,793)
million, and an adjustment to fixed assets of ¥13 million. Corporate expenses consist mainly ofgeneral and administrative expenses and R&D expenses that are not attributable to the reportablesegments.
3. Segment income or loss is adjusted with operating loss recorded on the consolidated statements ofincome.

(Notes on Significant Changes in Shareholders’ Equity)
Not applicable(Notes on Going Concern Assumption)
Not applicable- 11 -