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Supplementary Materials for the First Halfof the Year Ending March 31, 2024
November 14, 2023

Copyright ⒸAhresty Corporation. All Rights reserved.

Key Points of the Financial Resultsfor the First Half of the Year Ending March 2024
(Million yen)
Year ended March2023

Year ending March 2024
Y-o-Y

1H

1Q

1H

2Q

Net sales

66,53637,99639,75477,750+11,214

Operating income(1,198)

227

374

601

+1,799Recurring income

(820)

357

581

938

+1,758Net income

(830)

452

448

900+1,730

Sales weight*71

81

85

83+12

* With the FY2018 average set as 100<Overview>➢ Net sales: Increased 16.9% year on year due mainly to the recovery in the volume of orders received and the weakening of the yen.
Sales weight increased 14.5%, reflecting the production increase by car manufacturers in line with the easing of the semiconductor
shortage.
➢ Operating income: Despite the impact of the sluggish sales of Japanese car manufacturers in the Chinese market, an increase in thevolume of orders received by the Group as a whole and the partial advancement in price negotiations with customers to compensate therise in energy costs contributed to profit.
➢ Net income: Increased mainly due to the recording of foreign currency exchange gains resulting from the weakening of the yen.
1

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Revisions to Business Forecasts■Difference from the 1H results(Million yen)

FY2023 1H
Oct. 25 revisedplan

Results

Net sales

77,70077,750Operating income

600601

Recurring income

900938Net income

1,000900■Full-year business forecasts(Million yen)

FY2023 full year
May 18Initial plan

Oct. 25
Revised plan

Net sales

150,000

155,000

Operating income

2,2002,400

Recurring income

1,600

2,200

Net income1,100

1,400[Factors behind the difference in net income]In the timely disclosure on October 25, an extraordinary loss of 160 million yen was estimatedas loss related to Chinese business. However, as a result of discussions on the future use
and recoverability of mainly the business assets, an extraordinary loss of 262 million yen wasadditionally recorded (422 million yen in total). → Negative impact on net income
Since these extraordinary losses are not treated as expenses for tax purposes, deferred tax
assets (deferred income taxes) were recorded based on tax effect accounting. → Positive
impact on net income
As a result of the above, net income decreased.
[Factors behind change]
Net sales:
Revised upward due mainly to stable production by car manufacturers in line with the easingof the impact of semiconductors and the change in assumed exchange rates reflecting theweakening of the yen.
Operating income:The performance exceeded the initial plan due to recovery in the volume of orders received
and improvement in profitability mainly in the Japan and North America segments. On theother hand, in China, recovery in 2nd half and beyond expected in the initial plan seemed
difficult and the figures for the Asia segment was revised significantly downward, resulting ina slight increase overall.
Recurring income and net income:
Reflect mainly an increase in foreign currency exchange gains resulting from the weakeningof the yen

Foreign exchange rates
2 1.60 ⇒ 1.70
(Initial plan ⇒ Revised plan): U.S. dollar: 130.0 ⇒ 140.0; Chinese yuan: 19.0 ⇒ 20.0; Indian rupee:

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Changes in Sales Weight
Following 1Q, sales weight continued to increase due to stable increase in orders received.
The increase is expected to continue mainly in Japan and North America. But reflecting the decrease in China, the full-year forecast is about thesame level as the initial plan in May.
期初計画からの減少分
Decrease from plan at beginning of period

Results* Changes in percentage of sales weight compared to the level of FY2018

Average
平均

Average
平均

Average
平均

Average
平均

2018

2019

2020

2021

Q1

Q2

Q3
2022

3

Q4

Q1

Q2
2023

Oct. 25
Revised plan

Full year
通期(平均)(average)2023

Copyright ⒸAhresty Corporation. All Rights reserved.

Die Casting Business(Million yen)
Year ended
March 2023

1HJapan

North
America

Asia

Year ending March 2024

1Q

2Q

Year-onYear

1H

Year ending March 2024
full year
May 18Initial plan

Oct. 25
Revisedplan

Net sales

28,10915,45915,82331,282+3,17362,00063,500

Segment
income (loss)

(423)

42139

181+604

650

1,000

Net sales

17,016

11,307

11,66422,971+5,95541,00045,000

Segment
income (loss)

(713)

405

288

693

+1,406900

1,400

Net sales

15,695

7,707

8,595

16,302+607

34,70033,600

Segment
income (loss)

(250)

(617)

(371)

(988)

(738)

50(1,200)* The Mexico Plant in the North America segment and two plants in China in the Asia segment settle their accounts in December.
4

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Die Casting in Japan
Changes in sales and segment income (million yen)
DC Japan sales
Segment income/loss

15,00015,093

15,877

15,033 15,459

15,823

Changes in sales weight
1,500* Changes in percentage compared to the average level of FY2018

Results

Oct. 25
Revised plan

1,000
586
87131

10,00042＋139500

0(500)
5,000(1,000)

0

21Q2

21Q3

21Q4

22Q1

22Q2

22Q322Q423Q1

23Q2

Average
平均

Average
平均

Average
平均

Average
平均

20182019

2020

2021

Q1

Q2

Q3

Q4

Q1

Q2

Full year
通期(平均)(average)

2022

2023

2023

(1,500)

Factors behind change in segment income (million yen)

1st half
Sales: ¥31,200 million Up ¥3,100 million (11.3%) year on year
Income: ¥180 million Up ¥600 million year on year (returned to theblack)
2Q
Sales: ¥15,800 million Up ¥800 million (4.8%) year on year
Income: ¥130 million Up ¥0 million (0.6%) year on year
➢ Despite an increase in production costs due to rises in energy and laborcosts, etc., income increased in line with the recovery in the volume oforders received and the progress in energy price negotiations.

146893181(369)

Labor costs (159)
Energy costs (130)

(423)
22上期
22 1H

5(65)

販売量
Sales
volume

減価償却
Depreciation

Manufacturing
製造コスト
costs

その他
Other

23上期
23 1H

Copyright ⒸAhresty Corporation. All Rights reserved.

Die Casting in North America
Changes in sales and segment income (million yen)
12,00010,00011,664

DC North America sales

Changes in sales weight
2,000

11,307
9,793

Segment income/loss

10,186* Changes in percentage compared to the average level of FY2018

ResultsOct. 25
Revised plan

1,500

8,659

1,000

8,000
250

405

+288

500

6,000
0
4,000(272)

(500)

(441)

2,0000(1,000)
21Q2

21Q3

21Q4

22Q122Q2

22Q3

22Q4

23Q123Q2(1,500)

1st half
Sales: ¥22,900 million Up ¥5,900 million (34.9%) year on year
Income: ¥690 million Up ¥1,400 million year on year (returned to the black)
2Q
Sales: ¥11,600 million Up ¥3,000 million (34.7%) year on year
Income: ¥280 million Up ¥500 million year on year (returned to the black)➢ Sales increased due to an increase in the volume of orders received and theweakening of the yen. Although the rise in labor costs continued to affectrevenue, the U.S. plant continued to record a surplus due to theadvancement in price negotiations and the effect of cost reduction,contributing to the increase in income.
Fiscal year end: March in U.S.; December in Mexico
6
Exchange rate (22Q2 ⇒ 23Q2): U.S. dollar: ¥133.47 ⇒ 141.31; Mexican peso: ¥123.18 ⇒ 135.99

Average

平均

Average

平均

Average平均Average

平均20182019

2020

2021

Q1

Q2

Q3

Q4

Q12022

Q22023Full year

通期(平均)(average)
2023

Factors behind change in segment income (million yen)
314

693

1,417(252)(73)

Effect of laborcosts: (472)

(713)
22上期
22 1H

Sales販売量
volume

減価償却
Depreciation

Manufacturing
製造コスト
costs

その他
Other

23上期
23
1H

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Die Casting in Asia
Changes in sales and segment income (million yen)
10,0009,286

DC Asia sales

1,500
8,695

Segment income/loss

8,000

Changes in sales weight8,5957,707

Decrease from plan at beginning of period
期初計画からの減少分* Changes in percentage compared to the average level of FY2018

ResultsOct. 25
Revised plan

1,000

7,222

273

500

6,000
0(15)

4,000(371)

0(617)

(590)

2,000

21Q2

21Q3

21Q4

22Q1

22Q2(500)(1,000)

22Q3

22Q4

23Q1

23Q2(1,500)

1st half
Sales: ¥16,300 million Up ¥600 million (3.8%) year on year
Income: Loss of ¥980 million Down ¥700 million year on year (loss increased)
2Q
Sales: ¥8,500 million Up ¥1,300 million (19.0%) year on year
Income: Loss of ¥370 million Up ¥200 million (loss decreased)➢ Despite the ongoing sluggish sales of our major customers in China, production
increase in India and the weak yen contributed to the increase in sales. Whileefforts were made to reduce fixed costs through optimal allocation of personnel,
income worsened due to a decrease in orders received in China and the low
productivity of the Indian plant. Income has been improving lately.
Fiscal year end: December in China; March in India
Exchange rate (22Q2 ⇒ 23Q2): Chinese yuan: ¥18.9 ⇒ 19.47; Indian rupee: ¥1.70 ⇒ 1.72 7

Average
平均

Average
平均

Average
平均

Average
平均

2018

2019

2020

2021

Q1

Q2

Q3

Q4

Q1

Q2

Full year
通期(平均)(average)

2022

2023

2023

Factors behind change in segment income (million yen)
63
(65)

(250)

Effect of labor costs: (137)Worsening of productivity: (297)
22上期
22 1H

販売量
Sales
volume

減価償却
Depreciation(527)

Manufacturing
製造コスト
costs

(209)

(988)

その他
Other

23上期
23
1H

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Aluminum Business and Proprietary Products Business(Million yen)
Year ended
March 2023

1H

AluminumBusiness

Proprietary
ProductsBusinessYear ending March 2024

1Q

2Q

Year-onYear

1H

Year ending March 2024
full year
May 18Initial plan

Oct. 25
Revisedplan

Net sales

3,920

1,842

1,667

3,509(411)

7,300

7,000

Segment
income (loss)

152

55

3388(64)200

200

Net sales

1,794

1,679

2,005

3,684

+1,890

5,000

5,900

Segment
income (loss)

111

174

313

487

+376

400

800

<Aluminum Business>➢ Sales: Decreased due to the impact of a decrease in sales weight and a decline in aluminum prices.
➢ Income: Decreased mainly due to the decline in sales.
<Proprietary Products Business>➢ Sales: Increased due to an increase in orders for clean room projects from a semiconductor production company, our main customer,
and the recording of sales of a major project that had been postponed from the previous period.
➢ Income: Increased mainly due to an increase in net sales. Maintained profitability.
8

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Return to Shareholders
In line with the good performance in 1H, increased
interim dividend from ¥5 to ¥10

Purchase of treasury stock steadily progressing

Returning profits to shareholders based on consolidated businessresults within a range that will not affect the soundness of thefinancial structure while making growth investment forelectrification
Dividend pershare

FY2022
Results

FY2023
Initialprojection

FY2023
Revisedprojection

Similar to dividend payments, flexibly implementing the acquisition aspart of the strategic capital policy in line with our financial strategy,
taking into consideration business envirnment, the financial status, etc.

Treasury stock

Maximum
acquisition

As of Oct. 31

Progression
rate

900,000

541,800

60.2%

500392.8

78.6%

Annual dividend

101520

Number ofshares acquired

Interim5510

Total amount(million yen)

Year-end

51010

Purchase period

Net income pershare(3.26)

42.43

54,16

Dividend payout
ratio

ー35.4%

36.0%

9May 19, 2023 to December 31, 2023

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Contact for inquiries regarding this document and the Company’s IR:
Management Planning Section, Management Planning Department, Ahresty Corporation
Phone: +81-3-6369-8664
Email: ahresty_MP0_IR@ahresty.com
URL: https://www.ahresty.co.jp
This document and what is said in the results briefing include forecasts that the Company made based on data available when the document was prepared. Actual results could be different from theforecasts for a range of reasons.

Copyright ⒸAhresty Corporation. All Rights reserved.