Financial Results Briefing for
the Second Quarter of
the Fiscal YearEnding March 2024
TAKEBISHI CORPORATION
December 1, 2023
(Listed on Prime Market, Tokyo Stock Exchange; Securities Code: 7510)

Table of Contents

01. Company Overview

P1

02. Consolidated Financial Results

P7

03. New Medium-term Business Plan “T-Link1369”

P11

01. Company Overview

Company Overview

Company Overview(As of September 30, 2023)

Consolidated
Financial Results
New Medium-term
Business Plan

Company
Name
Date ofFoundation

TAKEBISHI CORPORATION
April 24, 1926

Capital3,406 million yen

President

Hiroshi Okagaki, Representative Director & President

Head Office

29 Mameda-cho, Nishi-kyogoku, Ukyo-ku, Kyoto

Consolidated
Net Sales

97,400 million yen (Year ended March 31, 2023)

Number of
Employees(Consolidated)

878

Business
Contents

Mitsubishi Electric-related technological trading company (Mitsubishi products
account for approx. 40%), engaged mainly in sales of electric products andelectronic components for industrial use and medical equipment, etc.

1/16

Company Overview

History

Consolidated
Financial Results
New Medium-term
Business Plan

Expanding business areas through investments
for growth with continuous M&As
to the Prime Market
2022 Transitionof Tokyo Stock Exchange

2021<Start-up phase>

Conducts publicstock offering

1926

Shares listed on First Section ofTokyo Stock Exchange

1930

2006

Moves Head Office to Kyoto

Changes corporate name to
TAKEBISHI CORPORATION

Changes corporate name to
Takebishi Denki Shokai Co.,
Ltd.

2021

2014

Establishes Kusasa Shougyou
Co., Ltd. in Osaka

1931

2022

1996

2020
2019

Shares listed on Second Sectionof Osaka Securities Exchange(currently Tokyo Stock Exchange)

2014

Establishes a Group
company in Vietnam(Ho Chi Minh City)Le Champ (South East Asia) Pte Ltd
joins our consolidated GroupUmezawa Musen Denki Co., Ltd. joins
our consolidated GroupFirst Brain Co., Ltd. joins our consolidated Group

Establishes a Group company in Thailand (Bangkok)

2006

Establishes a Group company in China (Shanghai)1999 Fujitelecoms Co., Ltd. joins our consolidated Group
1996 Establishes a Group company in China (Hong Kong)
1995 Establishes a representative office in Singapore (our first overseas office)2/16

Company Overview

Network (Offices and Group Companies)

Consolidated
Financial Results
New Medium-term
Business Plan

Strategic expansion mainly in the growing market of Southeast Asia
Domestic

Southeast Asia : 12 offices
India : 4 offices

7 Branches, 1 Sales office,5 Group companies[Kyoto Head Office][Branches and sales offices]

China : 5 offices

Tokyo Branch

Kofu Sales Office

Takebishi Electric Sales
Shanghai Limited

Ritto Branch

Kihoku Branch

Nagoya Branch

Osaka Branch

Shiga Branch

Kyushu Branch[Group companies]
TAKEBISHI (THAILAND) CO., LTD.

Takebishi Electric Sales
Hong Kong Limited
Shenzhen Office

Fujitelecoms Co., Ltd.

First Brain Co., Ltd.

TS Engineering Co., Ltd.

Takebishi Kosan Co., Ltd.

Umezawa Musen Denki Co., Ltd. (Tokyo, Sendai, and Sapporo)

Le Champ (South East Asia) Pte Ltd

TAKEBISHI VIETNAM CO., LTD.
Overseas

Group companies overseas (direct control of Takebishi)
Liaison office
Le Champ Headquarters
Le Champ offices

5 Group companies(a total of 21 offices in 8 countries)

Singapore, Malaysia, Thailand, Indonesia,
Vietnam, the Philippines, India, China

3/16

Company Overview
Consolidated
Financial Results
New Medium-term
Business Plan

TAKEBISHI’s Raison D'etre and Key Issues
Together with diverse partners, aim to be
the “leading total solution trading company from Kyoto”
Corporate Philosophy

Creating a bright future by connecting
people and technology with trust

Key issues for sustainable growth
Improve productivity

Deliver new value

Establish platforms
for living

Establish industries andsocieties with our advanced
connection skill towardbuilding a digital society

Explore diverse products
both in Japan and abroad
and increase the value of
manufacturing

Establish a comfortablesocial environment that
supports a rich and safe life
for people

Coexist with community
environment

Human resource
development andcontribution to society

Enhance managementfoundation

Code of Activities- Complying with corporate ethics and contributing to society 1. Trust
Provide exceptional service and build a high level of trust with customers
2. Technology
Strive to absorb and revolutionize new technologies that will benefit customers
3. Integrated power
Combine individual strengths and create a total service menu

Corporate Message
Continue creating new “LINK” with customers
and partners with our people and technology

Contribute to a
decarbonized society by
utilizing renewable energy

Create a corporate culturethat enables various talents
to actively work andengage in co-creation withlocal communities

Establish a businessstructure in response tochanges in environment
and enhance governance

4/16

Company Overview

Net Sales by Segment

Consolidated
Financial Results

Aiming for stable management based on a balanced business portfolio

New Medium-term
Business Plan

Products
Social, Information andCommunications

21%
(20.7
billion)Year ended

Industrial
Equipment andSystems

March 31, 2023

97.4 billion
Semiconductors andDevices36%(34.8 billion)

43%
(41.9
billion)Industrial
Equipment
andSystems

Programmable controllers /Servomotors

Laser processing machinery

Robots / Devices

Original products

Semiconductors
andDevices
Semiconductors

Social,Information
andCommunications

Radiation cancer
therapy devices

CPU boards

Escalators /Elevators

Display devices

DX products

ODMs

Mobile phones

5/16

Company Overview

Our Strengths and What We Aspire to Be

Consolidated
Financial Results

A “total solution trading company” that offers
new excitement and wonder with our advanced connection skill

New Medium-term
Business Plan

Partners

Customers

1,600 suppliers
Approx. 70 SIers

Approx.

TAKEBISHIA customer base of

3,500

approx.
uniquecompanies centered on Kyoto

Major Customers

Major Suppliers

Omron Group

Mitsubishi Electric Group

Components

Omron GroupKYOCERA Group

Murata Manufacturing Co., Ltd.

SHIMADZU Group

NIDEC GroupSCREEN GroupPFU Limited

NIDEC GroupHIROSE ELECTRIC CO., LTD.

Murata Machinery, Ltd.

Varian Medical Systems, Inc.
(U.S.)
Siemens Healthcare Diagnostics(Germany)
K.K.
Advantech Co., Ltd.
(Taiwan)
Littelfuse, Inc.

(U.S.)

Solutions

Coordination

Murata Manufacturing Group
Panasonic Group

Sumitomo Electric Industries Group
Ishida Co., Ltd.

6/16

02. Consolidated Financial ResultsCompany Overview

Changes in Net Sales and Ordinary Income

Consolidated
Financial Results

Aim to hit new record highs for 2 consecutive years
both in net sales and ordinary income

New Medium-term
Business Plan

(Billion yen)

100.0(Net sales)

97.4(Ordinary
income)

+2.6
83.4
77.1

80.0
72.4
63.3
60.0

1.99

3.92

71.3

63.6

61.1
2.57

2.00

4.04

74.3

2.14

1.80

4.15

4.50

3.39

Net sales

48.6
40.0

63.4

69.4

71.2

(+3%)

81.6

3.17

+0.11
(+3%)

2.58

2.24

3.00

2.20

1.95

1.50

1.06

Ordinary
income

0.0

0.00
'09

'10

'11

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23
(Plan)

7/16

Company Overview

Consolidated
Financial Results
New Medium-term
Business Plan

Results of Six Months Ended September 30, 2023
and Full-year Forecasts
After the COVID-19 shock, achieved increasing net sales
in both first and second quarters for the third consecutive year
(Billion yen)

 Changes in quarterly net sales(Billion yen)

30.0

Figures in parenthesis
represent YoY changes

1H

2H

Full year

Results

Forecast

Forecast

+2.5

26.5

(+10%)

26.0

Net Sales

50.3

49.7

100.0

(+8%)

(-2%)

(+3%)

24.2

24.0

25.9
24.9

23.8

Gross Profit

7.1

7.1

(+6%)

(±0%)

14.2

22.0

20.9

+1.2

22.6

20.5

(+5%)

19.9

(+3%)

19.1
18.6

Ordinary Income

2.2

2.0

4.2

(+9%)

(-3%)

(+3%)

18.0
17.6

17.2

17.0

15.7
14.3

Ordinary Income
(%)

4.3%

4.0%

4.2%

14.5

14.0
Q1

Q2

Q3

2019

Q4

Q1

Q2

Q3

2020

Q4

Q1

Q2

Q3

2021

Q4

Q1

Q2

Q3

2022

Q4

Q1

Q2

2023

8/16

Company Overview

Consolidated
Financial Results
New Medium-term
Business Plan

Ordinary Income in
Six Months Ended September 30, 2023 (YoY)
Improved profitability through the expansion ofcore FA Equipment, Devices and Medical businesses(Billion yen)

+0.33
Scale
Fluctuation

Increase in
SG&A Expenses+0.09(0.32)

Increase in
Non Operating
Income+0.07
Foreign
Exchange
Impact2.01

FY22 1H・ FA equipment +0.43
・ Devices+0.14

・ Medical+0.11

・ Increase in+0.21
personnel costs
・ Investment in+0.11
operating activities

+0.17
（+9%）
2.18

FY23 1H
9/16

Company Overview

Consolidated
Financial Results
New Medium-term
Business Plan

Net Sales by Segment for
the Year Ending March 31, 2024
Expecting to expand business primarily in the medical and FA equipmentareas, despite a bleak outlook for the market climate mainly overseas(Billion yen)

Net Sales
Industrial
Equipment
and Systems

1H
Results Forecast

2H
Net Sales Increase / Decrease Factors

YoY
FA equipment

21.1

21.3

±0% Machineryand systems
Devices

Semiconductors
and Devices

SocialInfrastructure

16.6

16.6

-10% Semiconductors

Total: Increase in sales by capturing demand for equipment for semiconductors and EVs,
as well as those for Expo 2025 Osaka, Kansai, Japan, despite a sales decrease at
offices in China due to sluggish capital investment along with economic slowdown.
: Increase in sales by capturing demand for automation at production sites mainly
for the manufacturing and food industries.

42.3

+1%

: Decrease in demand due to the progress of inventory adjustment by EMS
manufacturers in Southeast Asian countries.
: Increase in sales of foreign semiconductors for power conditioners, but sales
decrease due to a reaction to special demand for marketed products that we supplied
by fully exercising our function as a trading company.

33.2

-4%

17.0

+24%

7.5

+6%

100.0

+3%

Electronic: Increase in sales due to higher sales of radiotherapy systems and acquisition of
medical equipment demand for DX at medical workplaces.

9.0

8.0

+8% Heavy electricmachinery

Information andCommunications
Equipment

Full Year
Forecast YoY

Mobile phones

3.6

3.9

+2% Information
systems

50.3

49.7

-2%

: Increase in sales of solar power generation systems against the backdrop ofincreasing demand for decarbonization.
: Decrease in demand due to sluggish investment in mobile base stations, but sales
remain unchanged from the year-earlier level due to sales of in-house developed
applications to mobile phone shops and service proBusiness Plan to other industries.
: Increase in sales due to acquisition of demand for DX and cloud migration targeting
non-manufacturing and public sectors.

10/16

03. New Medium-term Business Plan “T-Link1369”

New Medium-term Business Plan “T-Link1369”

Company Overview
Consolidated
Financial Results

Targeting consolidated net sales of 130.0 billion yen
in FY2026 (our 100th anniversary)

New Medium-term
Business Plan

GrowthEvolving 4 growthstrategies

Consolidated Net Sales

New Business Sales

Ordinary Income

ROE

130.0 billion yen+30.0 billion yen

6.0 billion yen

9%

ReformFinancial

Non-financial

Creating innovation
aiming to be a general
trading company

Business managementthat emphasizes
capital efficiency

Refining sustainability
management

Expand core businesses
11/16

Company Overview
Consolidated
Financial Results

New Medium-term
Business Plan

To Achieve Consolidated Net Sales of
130.0 Billion Yen
Evolve growth strategies that we nurtured under the previous medium-termbusiness plan and reform our business for the next generation
Looking back on the previous
medium-term business plan

What we aspire to be under the
new medium-term business plan

“T-Link1000” : Target sales, 100.0 billion yen→ Grew to sales of 97.4 billion yen based on 4 growth strategies
and by expanding core businesses→ Occurred business losses such as sales channel restructuringand manufacturer's withdrawal→ Office closures and expansion (M&A) for selection and concentration

Creating innovation aiming toReform be a general trading company+30.0 billion yen
by promoting
new business130.0 billion

・ Mobility+5.0

・ Materials
・ DX promotion+25.0

100.0 billion

97.4 billion+21.1

77.1 billion

Business losses
Office closures(9.6)

・Medical

+8.8

+12.6

・Overseas ・Automation

Growth Evolving 4 growth strategies
・ GlobalBusiness losses, etc.

4 growth strategies

・ Energy solutions(10.0)・ Medical
・ Automation

・ Original

・Original

・ M&As according to
growth strategies

Expand core businesses

Expand core businesses
FY17

FY22

FY23

FY26

・ Acquire new customers
and expand areas

12/16

Company Overview
Consolidated
Financial Results

New Medium-term
Business Plan

GrowthEvolving 4 Growth Strategies

売上（2022→2026）
Further business expansion
in the growing market by leveraging
our strength (technological proposal capability)
Points of measures

Global✓ Enhance bases for FA solution business in Malaysia

+9.4
23.6

billionbillionbillion✓ Further expand areas including business sites in Southeast Asia
✓ Acquire demand for diagnostic equipment in new areas (such as surgery andbrain surgery)

Medical✓ Further expand radiation cancer therapy devices and maintenance business+5.7
billion

7.3 billion✓ Promote medical DX by providing radiology information systems in a broader area

Automation✓ Develop solutions in response to a declining labor force and the shift of
production back to Japan✓ Promote conversion of an entire factory into a smart one by proposing
a comprehensive design

33.0

13.0
billion+4.5
billion

4.0 billion

8.5 billion✓ Capture demand for automation used in different industries (such as food sector)

Original✓ Create innovation by integrating our connection skill and new technologies(such as AI)+0.7✓ Promote SaaS business by utilizing our own smartphone appsbillion✓ Strengthen sales by enhancing collaboration with overseas business sites andpartners

1.3 billion

2.0 billion

Promote M&As according to growth strategies✓ Enhance business in the growing markets including India and promotedevice business for EVs

Net sales(2022→2026)

13/16

Company Overview

ReformConsolidated
Financial Results

Creating Innovation Aiming to
Be a General Trading Company

Enhance our integrated proposal capability by providing new value that
goes beyond the framework of existing businesses

New Medium-term
Business Plan

Expand business areas in the EV,
service robot, and automated guided
vehicle (AGV) fields

Mobility

Enhance product lineup

Growing demandfor EV andautomated transport

Energysolutions

Promote renewableenergy-related
business

Reduceenvironmental burdenCorebusinesses
Industrial
Equipment

Semiconductors
andDevices

Social,Information andCommunications

Development ofdigital technology

Reduce manned operations with next-generation automatedtransport systems, and roll out to retail and construction sectors

Materials
Propose overseas products such as processed products andmechanical parts

Materials

Product diversification
Sell customer products

MobilityDX
promotion

Expand business areas by enhancing product lineup
such as construction materials, resin and magnet

Energy solutions
One-stop proposal of wind and solar power generation facilities(from sales to installation and maintenance)

Enhancecapability for
proposingnew
technologies

Further enhance energy generation / storage business (storage battery,
EV charging facility, next-generation solar power generation, etc.)

DX promotion
Verification of our internal operations improvement using generative AI,
and propose to customers
Develop IoT business for railway and public sectors

14/16

Company Overview

Financial

Consolidated
Financial Results

Business Management that
Emphasizes Capital Efficiency

Toward improving corporate value over the medium to long term,
targeting PBR (price book-value ratio) of 1x

New Medium-term
Business Plan*PBR and ROE = Figures are on a consolidated basis

0.78x

PBR

0.69x

Management
issues

0.74x
0.69x

Improve PBR(stock price / net assets)

Maintain and improveaverage daily
trading value(traded volume x stock price)

8.0%

ROE

6.6%
5.9%
4.6%

Dividends

52.0 yen

56.0 yen 58.0 yen

Dividend
payout ratio

Matters thatneed to beaddressed

Reduction of
net assets

How toaddress

Increaseshareholders
returnRise in stock
price

Increase intraded volume

48.0 yen38.0 yen

43.3%

'19

41.6%

'20

38.0%

'21

32.6%

33.4%

’22

’23 (Plan)

Expand sales
and profit

Achieveappropriate
stock price(PER)

Increase thenumber of
tradableshares15/16Company Overview
Consolidated
Financial Results

New Medium-term
Business Plan

Nonfinancial

Refining Sustainability Management

Promote improvement in corporate value through the creation of social value
To realize a decarbonized society
Aim to achieve net zero CO2 emissions in FY2030 (Scope 1 and 2)

E✓ Switch company-owned vehicles to EVs✓ Switch electricity used at our all business sites to renewableenergy-derived sources✓ Promote generation of renewable energy and in-house consumption
by constructing wind power and solar power generation facilities

Environment

S
SocialManagement by which employees andthe company can grow together
Create a fulfilling workplace where various talents canactively work
→ Childcare leave utilization rate (male: 35.3%, female: 100%)

CO2 Emissions Reduction Target
1,000ｔScope 1 (fuels) results
Scope 2 (electricity) results

500ｔ

Target0ｔ‘20 ’21 ‘22 ‘23 ‘24 ‘25 ‘26 ‘27 ‘28 ‘29 ‘30

2020

2021

2022

Employee turnover rate

1.8％

1.7％

1.7％

Retention rate of new graduates
for three years

95％

92％

96％

*Employee turnover rate: Annual average rate of employees who
voluntarily terminated for the latest three years

Facilitate communication (encourage in-house events and club activities)

G
Governance

Promote health and productivity management(Certified as Health & Productivity Management Outstanding Organization in March 2023）

Enhance foundations for corporate governance and risk handlingUpgrade internal control management by enhancing the effectiveness of
Risk Management Committee, etc.

16/16

Business Strategy Office, Corporate Planning Department