Financial Results Briefing
for FY2024 Q1
The 101st period：Apr. 1st, 2024- Jun. 30st, 2024

Jul. 25, 2024

1

Contents

１．FY2024 Q1 Financial Performance
２．Full Year Forecast FY2024
３．Topics
Cautionary Statement with Respect to Forward-Looking Statements
These forward-looking statements are not guarantees of future performance. It involves any risk depending on theJapanese or international economic situation, business trends related to our company, fluctuation of exchange
rates and other factors. It may cause our actual performance to be materially different from any future resultsannounced.

2/20

1-1 Q1 Consolidated Financial Summary
Sales reached record highs due to the impact of the weak yen, butoperating income falls due to lack of growth in sales volume.
（100 millions of yen, ％）FY2023

FY2024Q4 Results

Q1 Results
RecordYoY rate
Gain&Loss% Change

517+24＋4.9△11.7Sales493

Operating Income

3127△36.4%

5.4%

△1.0P

5251

△110.7%

9.9%

△0.8P

42+2+0.2P

Operating Income Ratio
Ordinary Income
Ordinary Income Ratio
Net income attributable toowners parent39HighRecordHighNet Income margin

8.0%

8.2%

Average exchange rate（U.S. dollars）¥135.7¥154.6¥18.9－△2.2－＋7.3－－3/20

1-2 Analysis of Consolidated Results : Sales
Sales reached record highs due to foreign exchange conversions resulting
from a weaker yen.
(100 millions of yen)
Impact of changes

Exchange
Conversion

Sales

493

VolumeMaterialin accounting

ExchangePricestandards for revenue

gain+4+2+2

recognition

517

Selling△18Price+35△1FY2023
Q1

Sales ＋2.4 Billion yen

FY2024

Q14/201-3 Analysis of Consolidated Results : Operating Income
Profit down due to lower sales volumes and higher costs.
31SalesVolumeExchange

Depreciation△5Q1Cost(excl.dies)△4FY2023(100 millions of yen)

Improvement

MaterialPriceLabor△2Cost△1gain27+4SellingExpenses△1Price△1

Operating Income △0.3 Billion+6

FY2024Q1

5/20

1-4 Consolidated Results by Business Segments
In the stamping and plastic molding business, sales up and income down.
In the valve business, sales and income up.
（100 million yen,％）

Sales

Stamping &*1
Plastic Molding

Operating Income

23/Q1

24/Q1

YoY Rate

23/Q124/Q1

YoY Rate

ResultResultGain&Loss %Change

ResultResultGain&Loss %Change

3533732214△76.3%

4.0%

△2.3P

913+46.5%

9.2%

+2.7P

+20+5.7

Operating Income Ratio

Valves*2

Operating Income Ratio

139

143+4+3.0△33.8+45.9<Analysis>*1 Sales increased due to the weak yen, but income decreased due to a decrease in volume and an increase in depreciation
expenses.
*2 Sales increased due to weaker yen and income increased due to reduced depreciation expenses.
6/20

1-5 Consolidated Results by Region
Sales and income down in Japan, sales and income up in Europe andthe U.S of America, sales and income down in Asia.
（100 millions of yen,％）SalesJapan *1

23/Q124/Q1

ResultResult167

162

Operating Income
YoY Rate

Gain&Loss△523/Q124/Q1

YoY Rate%Change

ResultResultGain&Loss %Change

△3.1

168

△79.6%

5.2%

△4.4P

813+53.6%

5.0%

+1.4P

54△15.7%

5.4%

△0.3P

Operating Income Ratio*2Europe & America

225271+45+20.2

Operating Income Ratio

Asia *3
Operating Income Ratio

9983△16△16.1△47.1+66.8△19.6<Analysis>*1 Sales decreased due to a decrease in sales volume, and income decreased due to sales volume down and an increase indepreciation expenses.
*2 Sales increased due to the weak yen and sales volume up, and income increased due to sales volume up and adecrease in depreciation expenses.
*3 Sales and income decreased due to a sales volume down.
7/20

Contents

１．FY2024 Q1 Financial Performance
２．Full Year Forecast FY2024
３．Topics

8/20

2-1 Full Year Forecast FY2024
Forecasts have been revised upwards in light of 1Q results and changes inthe external environment.
（ 100 millions of yen, ％）FY2023

FY2024

YonYDiff. from Previous Forecast

Full Year

Full Year Forecast

Full Year

Full Year

Results

Previouson 25th Apr.

LatestGain&Loss%Change

Gain&Loss%Change

Sales

2,073

2,0002,010

△63

△3.1%

+100.5%

Operating Income

144110115△29△20.4%+54.5%

Operating Income Ratio

7.0%

5.5%

5.7%

△1.3P

－+0.2P－Ordinary Income

188130145△43△23.0%+1511.5%

Current Net Income *169

100110△59△35.2%+1010.0%ＲＯＥ

11.2%

6.0%

6.5%

△4.7P

－+0.5P－ＲＯＡ(Operating income basis）

5.3%

3.7%

3.9%

△1.4P

－+0.2P－

Net Assets per Share¥2,840¥2,895¥3,025

¥185

6.5%

¥130

4.5%

Average exchange rate (US dollars)¥144.2¥145.0¥151.1

¥6.9

－

¥6.1

－

* Current net income is the current net income attributable to the parent company shareholders.

9/20

2-2 Analysis of FY2024 Forecasts: Sales
Decreased in sales due to lower sales volumes.

（ 100 millions of yen）

2,073
Sales
VolumeImpact of changes

in accounting△112

Selling

standards forPricerevenue△19FY2023

recognition△6Exchange
Conversion

Material
Price+9Exchange
gain+72,010+58

Sales △6.3 Billion

FY2024
forecast
10/20

2-3 Analysis of FY2024 Forecasts : Operating Income
Lower sales volumes and higher costs are recovered through cost
improvements.
144

Sales

(100 millions of yen)

Volume△25

Selling

Exchange

Price△19Material
PriceLabor△9Cost△8Expenses△7FY2023

Cost

gain

improvement+7

Depreciation(excl.dies)

115+34△3Operating Income △2.9 Billion

FY2024
forecast

11/20

2-4 Consolidated forecasts by Segments
Stamping and plastic molding business expect lower sales
and income, while valves business expects flat YoY.
（ 100 millions of yen, ％）Sales

Stamping & *1
Plastic Molding

Operating Income

FY2023

FY2024YonY

FY2023

FY2024YonY

ResultForecast

Gain&Loss %Change

ResultForecast

Gain&Loss %Change

1,499

1,436

10370

△33

6.9%

4.9%

△2.0P

4145+37.2%

7.9%+0.7P△63△4.2

Operating Income Ratio

Valves*2

Operating Income Ratio

571570△1△0.3△32.7+9.3<Analysis>*1 Sales decrease due to sales volume down, income decrease due sales volume down and increase in depreciation
expenses.
*2 Sales expects to be flat YoY due to sales volume down and yen depreciation, and income increase due to decrease indepreciation.
12/20

2-5 Consolidated Forecast by Region
In Japan, sales up and income down. In Europe and the U.S., sales andincome down. In Asia, sales down and income expected to be flat YoY.
（ 100 millions of yen, ％）SalesJapan *1

Operating Income

FY2023

FY2024YonY

FY2023

FY2024YonY

Results

Forecast

Gain&Loss %ChangeResults

Forecast

Gain&Loss %Change

679

6966248△149.2%

6.9%

△2.3P

4335

△84.4%

3.7%

△0.7P

2627+06.4%

7.3%+0.9P+16+2.5

Operating Income Ratio

Europe&America *2969944△25△2.7

Operating Income Ratio

Asia *3
Operating Income Ratio

424

370

△54△12.8△23.2△18.9+0.2<Analysis>*1 Sales increase due to sales volume up, but income decrease due to increase in labor cost, expenses and depreciation.
*2 Sales decrease due to dies and molds sales down, and income decrease due to sales volume down and higher labor costs.
*3 Sales decrease due to lower volume in China, income expected to be flat YoY due to lower volume and depreciation
expenses.
13/20

2-6 Quarterly Consolidated Financial Results
Decrease in profit from 2023,Q4 due to partial shutdown of a customer's
production line, etc.
（ 100 millions of yen）
Sales
Decrease

Increase in sales due toOperating Income
Decrease in sales due toDecrease

inhigher sales volume

partial stoppage ofin Northproduction

and yen depreciation

customer's domestic

Americaproduction lines

volumevolume533

533

493

513

Decreasedue todecrease involumeDies andDecrease in

mold'sprofit of dies

profitand molds.

increase

Profits fall

NA volume

volume anddue todecline, profit

increase in

decreasedof dies

Increasecost. Profit

sales

and molds

in new plantsecuredvolumedecline.

Decrease inby517

retroactive

472

adjustment

43ofselling prices

37
32

31

27
22

23/1Q

23/2Q

23/3Q

23/4Q

24/1Q

24/2Q
Forecast

23/1Q

23/2Q

23/3Q

23/4Q

24/1Q

24/2Q
Forecast

14/20

2-7 Capital Investments and Depreciation
Investing in new valve plant, die factory, development center, etc. forfuture growth.
（ 100 millions of yen）

Capital Investment
315
1438
229
162
Asia

18Europe＆America

61

Japan

84
'20

181

27
35
119
'21

Depreciation
300
25

75

23
44

146
263
200

163

'22'23'24(forecast）

165

182

179

172

27

23
46
103

46

55

29
43

85

92

100

107

'20

'21

'22'23

23
38

26'24

(forecast）

15/20

2-8 Consolidated Balance Sheet
We are gradually selling off our cross-shareholdings, aiming to keep them at
20% or less of our net assets. As of the end of the first quarter, they had
fallen to 19.9%, including deemed shares.
(100 millions of yen)

Liabilities and Net Assets)

2,924
Current liabilities
536
Noncurrent liabilities 713

2,888

Liabilities

1,250

Shareholders' equity 1,209
Other comprehensive income
453
Non-controlling interests 9△36

Current liabilities
490
Noncurrent liabilities 696△631,187

NetAssets

1,673

End of Mar.2024

+26

1,700

Shareholders' equity 1,209
Other comprehensive income
480
Non-controlling interests 10

End of Jun.2024

16/20

Contents

１．FY2024 Q1 Financial Performance
２．Full Year Forecast FY2024
３．Topics

17/20Topics：Plant Investment
Promoting plant construction to grow stamping and valve businesses.
Completion of building
for die making

New valve plantunder construction

Reorganized the die factory in response to the expansion of
the stamping business. Increased die production capacity andstrengthened development of ultra-high tensile strength
stamping methods.

Increasing production capacity of valves for electrified vehicles
in light of long-term market expansion.

Location：On-site of the Higashi-Ogaki plant (Ogaki,Gifu)

Location：On-site of the Kita-Ogaki plant (Godo,Anpachi,Gifu)

Prod. Line：Dies for Metal stamping
Total floor area： 5,700 ㎡ approx.
Investment amount：JPY 3.1Billion approx.
Start of operation：Nov.2024

Prod. Line：Valve products for electrified vehicles, etc.
Total floor area： 14,900 ㎡ approx.
Investment amount：JPY 4.5Billion approx.
Start of operation：Mar.2025

18/20

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