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 Three Months Ended January 31, 2024
(Based on Japanese GAAP)
March 4, 2024
Company name:
SENSHU ELECTRIC CO.,LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

9824
URL https://www.senden.co.jp/
Representative Director,President
Motohide Nishimura

Inquiries:

Senior Managing Director & Executive
Officer & General Manager of

Kazuto Narita

Administration Division
Scheduled date to file Quarterly Securities Report:

March 11, 2024

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:

NoTEL

06-6384-1101(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended January 31, 2024 (from November 1, 2023 to January 31, 2024)(1) Consolidated operating results (cumulative)
Net sales
Three months ended January 31, 2024
Three months ended January 31, 2023

Millions of yen
33,74429,764

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
13.4
2,643
23.1
2,772
22.5
1,958
28.8
9.6
2,147
29.4
2,263
28.2
1,520
27.3

(Note) Comprehensive income Three months ended January 31, 2024

¥2,258 million [42.7%]

Three months ended January 31, 2023

¥1,582 million [39.8%]

Earnings per share

Diluted earnings per shareYen
111.1085.14

Three months ended January 31, 2024
Three months ended January 31, 2023

Yen
111.03–(Note) Diluted earnings per share for the three months ended January 31, 2023 is not stated because there are no residual shares having thedilutive effect.
(2) Consolidated financial position
Total assets
As of January 31, 2024
As of October 31, 2023
Reference: Equity

Net assets

Millions of yen
102,788
101,367

Equity ratio

Millions of yen
51,46750,714As of January 31, 2024

¥51,065 million

As of October 31, 2023

¥50,329 million%49.7
49.7

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

Yen–

Yen
60.00

Yen
110.00

60.00

–

60.00

120.00Year ending October 31, 2024 (Forecast)(Note) Revision of cash dividend forecast most recently announced: No

1

Total

3. Forecast of consolidated financial results for the year ending October 31, 2024 (from November 1, 2023 to October 31, 2024)

Net sales
Millions of yenSix months ending
April 30, 2024
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen

66,000

6.7

4,800

11.5

5,000

11.5

3,500

16.9

200.34132,000

5.6

9,200

10.0

9,500

8.3

6,600

11.5

377.78(Notes) 1. Revision of consolidated financial results forecast most recently announced: Yes
2. Pursuant to a resolution at a meeting of the Board of Directors held on September 11, 2023, the Company repurchased up to 270,000
treasury shares from October 10, 2023 until April 30, 2024. The earnings per share in the consolidated financial results forecast iscalculated taking into account the effect of these stock repurchases.
4. Notes(1) Changes in significant subsidiaries during the three months ended January 31, 2024
(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(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:

No
No

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 January 31, 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 January 31, 2024

1,936,148 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)
Three months ended January 31, 2024

17,627,572 shares Three months ended January 31, 2023

17,856,935 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 January 31, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade28,534
23,31328,59622,496

Electronically recorded monetary claims - operatingSecurities

11,302
913,13110

MerchandiseWork in process

6,914
247

6,703
244

Raw materials and supplies
Other

257
271

275
216

Allowance for doubtful accounts

(18)

(19)

70,83071,654

7,083

7,113

361
12,282349
12,394

103
523

104
739

20,35520,702

122

113

Other

180

177

Total intangible assets

303

290

Investment securities
Long-term time deposits

2,310
3,000

2,758
3,000

Deferred tax assets
Other,net

715
4,253

399
4,382

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, netMachinery, equipment and vehicles, net
Land
Leased assets, net
Other, net
Total property, plant and equipment
Intangible assets
Goodwill

Investments and other assets

Allowance for doubtful accounts

(400)

(400)

Total investments and other assets

9,878

10,140Total non-current assets
Total assets

330,537

31,133

101,367

102,788

(Millions of yen)
As of October 31, 2023

As of January 31, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade

43,05044,947

Short-term borrowings
Current portion of bonds payable

691
64

726
64

Current portion of long-term borrowings
Lease liabilities

522

722

1,561
773

745
395

Income taxes payable
Provision for bonuses
Other

1,544

1,555

Total current liabilities

47,71348,464

Bonds payable
Long-term borrowings

4254

42
52

Lease liabilities
Deferred tax liabilities

49
852
72,120
7

2,144
7656

549

Non-current liabilities

Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities

2,939

2,855

50,652

51,320Share capital
Capital surplus

2,575
2,757

2,575
374

Retained earningsTreasury shares

48,574(5,142)49,470(3,203)

Total shareholders' equity

48,764

49,216

961

1,235

446
156

464
149

1,565

1,849

59

59

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
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

4326

342

50,71451,467

101,367

102,788

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

January 31, 2023

January 31, 2024

Net sales
Cost of sales

29,764
25,11933,74428,406Gross profit

4,645

5,337

335

373

Provision of allowance for doubtful accounts
Salaries and bonuses

(0)
701

0
750

Welfare expenses
Provision for bonuses

248
345

260
379

Retirement benefit expenses
Travel, transportation and communication expenses

6568

7078

Depreciation
Amortization of goodwill1218138
8Selling, general and administrative expenses
Freight and packing costs

Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income

602

633

2,497

2,694

2,147

2,643

35

Dividend income
Rental income from buildings

1932

2633

Foreign exchange gains
Other

282

386

Total non-operating income

140155Non-operating expenses
Interest expenses

00

12
3123

Other

710

Total non-operating expenses

2326

2,263

2,772–100

Depreciation
Guarantee commission

Ordinary profit
Extraordinary income
Subsidy income–100

2,263

2,872

Income taxes - current

540703

Income taxes - deferred

186

197

Total extraordinary income
Profit before income taxes

Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

5726

900

1,537

1,971

16

12

1,520

1,958

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

January 31, 2023

January 31, 2024
1,537

1,971

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

102(57)273
20

Remeasurements of defined benefit plans, net of tax0(7)45287Comprehensive income

Total other comprehensive income

1,582

2,258

Comprehensive income attributable toComprehensive income attributable to owners of parent

1,553

2,242

29

16

Comprehensive income attributable to non-controllinginterests

6