Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Six Months Ended April 30, 2024
(Based on Japanese GAAP)
June 4, 2024
Company name:

SENSHU ELECTRIC CO.,LTD.

Stock exchange listing: Tokyo
Stock code:
9824

URL

https://www.senden.co.jp/

Representative:

Representative Director,President
Senior Managing Director & Executive

Motohide NishimuraInquiries:

Officer & General Manager ofAdministration Division

Kazuto Narita

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

June 11, 2024
July 2, 2024

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

NoYes

TEL

06-6384-1101(for analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended April 30, 2024 (from November 1, 2023 to April 30, 2024)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Six months ended April 30, 2024
66,125
6.9
5,104
18.6
5,327
18.8
3,674
22.7
Six months ended April 30, 2023
61,851
12.1
4,304
21.7
4,482
20.7
2,994
20.2
(Note) Comprehensive income Six months ended April 30, 2024
Six months ended April 30, 2023

¥4,381 million [38.5%]¥3,164 million [27.6%]

Earnings per share

Diluted earnings per share

Yen
208.88168.11

Six months ended April 30, 2024
Six months ended April 30, 2023

Yen
208.74168.09(2) Consolidated financial position
Total assets
Millions of yen
105,823
101,367

As of April 30, 2024
As of October 31, 2023
Reference: Equity

Net assets

As of April 30, 2024
As of October 31, 2023

Equity ratio

Millions of yen
53,36150,714

%
50.1
49.7

¥52,982 million¥50,329 million

2. Cash dividends
Annual dividends per share

Year ended October 31, 2023
Year ending October 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
50.00
65.00

Yen–

Yen
60.00

Yen
110.00–65.00130.00Year ending October 31, 2024 (Forecast)(Note) Revision of cash dividend forecast most recently announced: Yes

1Total3. Forecast of consolidated financial results for the year ending October 31, 2024 (from November 1, 2023 to October 31, 2024)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Full year
132,000
5.6
9,600
14.7
10,000
14.0
7,000
18.2
401.64(Note) Revision of consolidated financial results forecast most recently announced: Yes
Pursuant to a resolution at a meeting of the Board of Directors held on September 11, 2023, the Company repurchased 270,000 treasury
shares. Furthermore, the Company’s Board of Directors resolved at a meeting held on June 4, 2024 to repurchase treasury shares. Theearnings per share in the consolidated financial results forecast is calculated taking into account the increase or decrease in the number oftreasury shares due to the shares repurchased or to be repurchased and other factors.
4. Notes(1) Changes in significant subsidiaries during the six months ended April 30, 2024
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of April 30, 2024

19,500,000 shares As of October 31, 2023

21,000,000 shares

Number of treasury shares at the end of the period
As of April 30, 2024

1,971,497 shares As of October 31, 2023

3,303,008 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended April 30, 2024

17,590,183 shares Six months ended April 30, 2023

17,811,392 shares* Quarterly financial results reports are exempt from quarterly reviews conducted by certified public accountants or an audit corporation.
* Proper use of forecasts of financial results, and other special matters(Caution concerning forward-looking statements)
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize suchstatements. Actual performance and other results may differ materially due to various factors.

2Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of October 31, 2023

As of April 30, 2024

AssetsCurrent assets
Cash and deposits

28,534

28,828Notes and accounts receivable - trade
Electronically recorded monetary claims - operating

23,313
11,302

22,97713,013

Securities
Merchandise

96,914

107,654Work in process
Raw materials and supplies

247
257

225
290

Other
Allowance for doubtful accounts

271
(18)

319
(19)

70,83073,301

Buildings and structures, net
Machinery, equipment and vehicles, net

7,083
361

7,274
330

Land
Leased assets, net

12,282
103

12,394
184

Total current assets
Non-current assets
Property, plant and equipment

Other, net

523

1,314

20,355

21,498Goodwill
Other

122
180

104
164

Total intangible assets

303

269

Investments and other assets
Investment securities

2,310

3,289

Long-term time deposits
Deferred tax assets

3,000
715

3,000433

Other,net
Allowance for doubtful accounts

4,253(400)

4,422(391)

Total investments and other assets

9,878

10,754

Total property, plant and equipment
Intangible assets

Total non-current assets
Total assets

330,537

32,522

101,367

105,823

(Millions of yen)
As of October 31, 2023

As of April 30, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings

43,050691

44,656
726

64
514
–

Lease liabilities
Income taxes payable

22
1,561

36
1,785

Provision for bonuses
Other773
1,544

8091,535

Total current liabilities

47,71349,56342355449–121

Deferred tax liabilities
Retirement benefit liability

82,1204
2,183

Asset retirement obligations
Other

7656

7546

Current portion of bonds payable
Current portion of long-term borrowings

Non-current liabilities
Bonds payable
Long-term borrowings
Lease liabilities

Total non-current liabilities

2,939

2,899

50,652

52,462

Shareholders' equity
Share capital

2,575

2,575

Capital surplus
Retained earnings

2,757
48,574488
51,186

Total liabilities
Net assetsTreasury shares(5,142)(3,518)

Total shareholders' equity

48,76450,731

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

961
446

1,544
564

Remeasurements of defined benefit plans

156

142

1,565

2,251

59

30

Accumulated other comprehensive income

Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

4326

347

50,71453,361

101,367

105,823

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Six months endedApril 30, 2023

Six months endedApril 30, 2024

Net sales

61,851

66,125

Cost of sales

52,44755,651Gross profit

9,404

10,473

674
22730
(0)

1,428
507

1,497
516

Provision for bonuses
Retirement benefit expenses

728
131

781
135

Travel, transportation and communication expenses
Depreciation

142
241

147
274

Amortization of goodwill
Other

17
1,203

17
1,266

Total selling, general and administrative expenses

5,099

5,368

4,304

5,104

Interest incomeDividend income

725

1038

Rental income from buildings
Foreign exchange gains

66–

67
12Other148

152

Total non-operating income

247

281

Interest expenses
Depreciation

125

224

Guarantee commission
Foreign exchange losses

666–

Other

29

25

Selling, general and administrative expenses
Freight and packing costs
Provision of allowance for doubtful accounts
Salaries and bonuses
Welfare expenses

Operating profit
Non-operating income

Non-operating expenses

Total non-operating expenses
Ordinary profit

6958

4,482

5,327

–

112

Extraordinary income
Subsidy income–112Profit before income taxes

4,482

5,440

Income taxes - current
Income taxes - deferred

1,450
8

1,721
27

Total income taxes

1,458

1,749

Profit

3,024

3,690

29

16

2,994

3,674

Total extraordinary income

Profit attributable to non-controlling interests
Profit attributable to owners of parent

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)Six months endedApril 30, 2023
ProfitSix months endedApril 30, 2024
3,024

3,690

Other comprehensive income
Valuation difference on available-for-sale securities

204582Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax(64)0123(14)

Total other comprehensive income
Comprehensive income

140690

3,164

4,381

3,115

4,360

49

21

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6