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 Year Ended March 31, 2024
(Based on Japanese GAAP)May 8, 2024
Company name:Sansha Electric Manufacturing Co., Ltd.

Stock exchange listing: Tokyo
Stock code:
6882

URL

https://www.sansha.co.jp

Representative:

Representative Director, President
General Manager

Hajimu Yoshimura

Inquiries:

Corporate Planning DivisionManaging Operating Officer

Hiroyuki Maruyama

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

June 25, 2024
June 25, 2024

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:

June 7, 2024
Yes

Holding of financial results meeting:

Yes

TEL

06-6321-0321(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating results
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%
Year ended March 31, 2024
31,005
10.4
3,407 109.1
3,473 110.3
2,955 138.0
Year ended March 31, 2023
28,088
23.9
1,629
23.8
1,651
25.7
1,241
8.2
Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%
%
–
13.0
10.8
11.0
–
6.1
5.9
5.8

Diluted earnings pershareEarnings per share
Yen222.1995.33

Year ended March 31, 2024
Year ended March 31, 2023
(2) Consolidated financial position

Total assets
As of March 31, 2024
As of March 31, 2023

Net assets

Equity ratio

Millions of yen
35,33429,083

Millions of yen
24,432
21,065

Cash flows fromoperating activities
Millions of yen
2,303
(198)

Cash flows frominvesting activities
Millions of yen(1,097)(799)

Net assets per share%
69.1
72.4

Yen
1,837.05
1,583.87(3) Consolidated cash flows

Year ended March 31, 2024
Year ended March 31, 2023

Cash flows from
Cash and cash equivalentsat end of period
financing activities
Millions of yen
Millions of yen
488
5,825
(189)
3,959

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2023
Year ended March 31, 2024
Year ending March 31, 2025
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen

%%

––

8.00
10.00

––

22.00
40.00

30.00
50.00

395
664

31.5
22.51.9
2.9–

10.00

–

30.00

40.00

154.8

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Net sales
Full year

Millions of yen
28,800Percentages 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(7.1)
1,400 (58.9)
1,400 (59.7)
980 (66.8)
73.68

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2024
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) 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:
Changes in accounting policies due to other reasons:

NoNo

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2024

14,950,000 shares As of March 31, 2023

14,950,000 shares

Number of treasury shares at the end of the period
As of March 31, 2024

1,650,022 shares As of March 31, 2023

1,650,022 shares

13,299,978 shares Year ended March 31, 2023

13,021,763 shares

Average number of shares during the period
Year ended March 31, 20242

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits
Notes receivable - trade3,959551

5,825457Accounts receivable - trade
Electronically recorded monetary claims - operating

7,735
1,568

7,702
4,278

Merchandise and finished goods
Work in process

3,105
1,789

3,997
1,829

Raw materials and supplies
Other

3,181
649

3,047
284

(31)

(31)

22,51027,393

1,846

1,627

694
2,238

619
2,238

Leased assets, net
Construction in progress

375
110

339
711

Other, net

234

233

5,499

5,770

Goodwill
Other

22101

16
195

Total intangible assets

123

211

Investments and other assets
Investment securities

32213

Deferred tax assets
Retirement benefit asset336
384

689
797

Other196

259

Total investments and other assets

949

1,959

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land

Total property, plant and equipment
Intangible assets

Total non-current assets
Total assets

3

6,572

7,941

29,08335,334

(Millions of yen)
As of March 31, 2023

As of March 31, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade

3,875

3,850–375

1,000405

Accounts payable - otherAccrued expenses

1,169
679

1,394
723

Income taxes payable
Contract liabilities

345
58

1,001
211

Provision for bonuses
Provision for product warranties

614
58

895
44

Provision for loss on orders received
Other

51
289

73
922

7,519

10,522

190

155

Directors' retirement benefits payable
Deferred tax liabilities

68
133

68
9

Provision for director's stock based compensation
Retirement benefit liability

–
54

33
58

Other

51

54

Short-term borrowings
Electronically recorded obligations - operating

Total current liabilities
Non-current liabilities
Lease liabilities

Total non-current liabilities

498378

8,017

10,901

Share capital
Capital surplus

2,774
2,698

2,774
2,755

Retained earnings
Treasury shares

16,033(1,540)

18,561(1,597)

Total shareholders' equity

19,96522,493

Total liabilities
Net assets
Shareholders' equity

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

1128

Foreign currency translation adjustment
Remeasurements of defined benefit plans

1,109(21)

1,697
213

Total accumulated other comprehensive income

1,100

1,939

21,06524,432

29,08335,334

Total net assets
Total liabilities and net assets

4Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Net sales

28,08831,005

Cost of sales

21,60022,423Gross profit

6,488

8,582

Selling, general and administrative expenses

4,858

5,174

Operating profit

1,629

3,407

Non-operating income
Interest income

1213

Dividend income
Rental income

113

113

Subsidy income
Electricity sale income

8726
7

Gain on valuation of derivatives
Other

4429

81
23

Total non-operating income

116

167

Non-operating expenses
Interest expenses
Foreign exchange losses
Loss on cancellation of rental contracts

4988
–

52
35

Other

13

Total non-operating expenses

94

101

Ordinary profit

1,651

3,473

Profit before income taxes

1,651

3,473

Income taxes - current
Income taxes - deferred

463
(53)

1,089(571)

Total income taxes

409

518

Profit

1,241

2,955

Profit attributable to owners of parent

1,241

2,955

5Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
1,241

2,955

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

6207

16587

Remeasurements of defined benefit plans, net of tax

(128)

234

85838

Comprehensive income

Total other comprehensive income

1,327

3,794

Comprehensive income attributable toComprehensive income attributable to owners of parent

1,327

3,794

6Consolidated statements of changes in equity
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

2,774

Retained earnings

2,698

15,226

Total shareholders'equity

Treasury shares(1,903)

18,795

Changes during period
Dividends of surplus

(321)

(321)

Profit attributable to owners ofparent

1,241

1,241

Purchase of treasury shares(1,506)(1,506)

1,869

1,755

Disposal of treasury shares(113)

Transfer of loss on disposal oftreasury shares

113

(113)

––

806

362

1,169

2,774

2,698

16,033(1,540)19,965–

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

Accumulated other comprehensive income

Balance at beginning of period

Valuation difference
on available-for-salesecurities

Foreign currencytranslation adjustment

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensive
income

5901

107

1,014

Total net assets

19,810Changes during period
Dividends of surplus(321)

Profit attributable to owners ofparent1,241

Purchase of treasury shares(1,506)

Disposal of treasury shares

1,755Transfer of loss on disposal oftreasury shares–Net changes in items otherthan shareholders' equity

6207(128)

85

85

Total changes during period

6207(128)

85

1,255

Balance at end of period

111,109(21)1,100

21,065

7Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

2,774

Retained earnings

2,698

16,033

Treasury shares(1,540)Total shareholders'equity19,965

Changes during period
Dividends of surplus

(426)

(426)

Profit attributable to owners ofparent

2,955

2,955

Disposal of treasury shares

57(57)–Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period–

57

2,528(57)

2,528

2,774

2,755

18,561(1,597)22,493

Accumulated other comprehensive income

Balance at beginning of period

Valuation difference
on available-for-salesecurities

Foreign currencytranslation adjustment

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensive
income11

1,109(21)1,100

Total net assets

21,065

Changes during period
Dividends of surplus(426)

Profit attributable to owners ofparent

2,955

Disposal of treasury shares
Net changes in items otherthan shareholders' equity–
16587

234

838

838

Total changes during period

16587

234

838

3,367

Balance at end of period

28

1,697

213

1,939

24,4328

Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
1,651

3,473

Depreciation
Amortization of goodwill

885
6901
6

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses

(28)
47

(1)
275

Increase (decrease) in provision for product warranties
Increase (decrease) in provision for loss on orders received

111(14)21

Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability

(60)
2(74)
3–

33(13)
4(15)9Loss (gain) on sale of property, plant and equipment
Decrease (increase) in trade receivables(2)(1,338)–(2,331)

Decrease (increase) in inventories
Increase (decrease) in trade payables(1,177)387(563)(140)

Increase (decrease) in accrued expenses
Other, net

68(341)36
1,146

Subtotal

103

2,765

Interest and dividends received
Interest paid

13(4)

14(9)

Increase (decrease) in provision for directors' stock based
compensation
Interest and dividend income
Interest expenses

Income taxes paid

(311)

(467)

Net cash provided by (used in) operating activities

(198)

2,303

Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment(758)
2(882)–

Purchase of intangible assets
Purchase of investments in associates(43)–(55)(159)

Net cash provided by (used in) investing activities(799)(1,097)

Cash flows from investing activities

Cash flows from financing activities
Net increase (decrease) in short-term borrowings

–

1,000

Purchase of treasury shares
Proceeds from sale of treasury shares(1,506)
1,755––

Dividends paid
Repayments of finance lease liabilities

(321)
(116)

(426)
(85)

Net cash provided by (used in) financing activities

(189)

488

Effect of exchange rate change on cash and cash equivalents

120171

Net increase (decrease) in cash and cash equivalents(1,066)

1,865

Cash and cash equivalents at beginning of period

5,026

3,959

Cash and cash equivalents at end of period

3,959

5,825

9