Consolidated Financial Results for the
Fiscal Year Ended March 2024 [Japan GAAP]
April 25, 2024
Name of Company:
Futaba Industrial Co., Ltd.
Stock Exchange Listing: Tokyo Stock Exchange, Prime Market, Nagoya Stock Exchange, Premier Market
Stock Code:7241
URL: https://www.futabasangyo.com/en/
Representative:
Yoshihiro Uozumi, President
Contact Person:
Yoshihiro Kobayashi, Accounting Manager
Tel:+81-(564) 31-2211
Scheduled date of ordinary general shareholders meeting: June 21, 2024
Scheduled date of commencement of dividend payment: June 6, 2024
Scheduled date of filing securities report:
June 24, 2024
Supplementary materials for financial results:
Yes
Information meeting for financial results:
Yes (for securities analysts and institutional investors)(Yen in millions, rounded down)

1. Financial results for the current fiscal year (April 1, 2023 – March 31, 2024)(1) Result of Operations (Consolidated)
Net sales

Operating profit

Million yen%

FY2024
795,802
FY2023708,072
Note: Comprehensive income:(Percentage figures represent year on year changes)

Profit attributable toowners of parent

Ordinary profit

Million yen%

Million yen%

Million yen%

12.4
19,213150.1
18,489138.0
12,831
21.3
23.8
7,681
25.6
7,768
(0.5)
10,576219.8
FY2024: 33,521 million yen [194.9%] FY2023: 11,367 million yen [-15.4%]

Earnings per share

Earnings per share
fully diluted

Yen

Yen

FY2024
143.44FY2023118.26
Reference: Equity in earnings of affiliates:

11.7
11.9

Net assets

%

%

5.6
2.5
FY2023: 260 million yen

Equity ratio

2.4
1.1

Net assets per share

Million yen%

Yen334,780

130,90137.2

1,390.23

319,768
99,747
As of March 31, 2024: 124,378 million yen(3) Cash Flows (Consolidated)
Net cashprovided by (used in)operating activities
FY2024FY2023

Ratio of operating
profit to net sales

Million yen

As of March 31, 2024
As of March 31, 2023
Reference: Shareholders’ equity:%‒‒
FY2024: -150 million yen(2) Financial Position (Consolidated)
Total assets

Ratio of ordinary
profit to total assets

Return on equity

Net cashprovided by (used in)investing activities

29.4
1,051.94
As of March 31, 2023: 94,071 million yen

Net cashprovided by (used in)financing activities

Cash andcash equivalents
at end of period

Million yen

Million yen

Million yen

Million yen

57,37047,743(16,208)(22,307)(27,746)(22,009)24,277
10,331

2. Dividends
Dividend per share
End of
1Q

End of2Q

End of3Q

End ofFY

Annual aggregate
amount

Total

Dividends/net
assets(Consolidated)

Payout ratio(Consolidated)

Yen

Yen

Yen

Yen

Yen

Million yen%%

FY2023
FY2024

‒
‒

0.00
15.00

‒
‒

15.00
20.00

15.00
35.00

1,341
3,131

12.7
24.4

1.5
2.9

FY2025 (estimated)

‒

17.00

‒

18.00

35.00

‒

3. Forecast for the fiscal year ending March 2025 (Consolidated, April 1, 2024 - March 31, 2025)(Percentage figures represent year on year changes)

Net sales

Full year

Operating profit

Profit attributable toowners of parent

Ordinary profit

Earnings per share

Million yen%

Million yen%

Million yen%

Million yen%

Yen

740,000(7.0)

16,000(16.7)

15,000(18.9)

12,000(6.5)

134.15*Notes(1) Changes in significant subsidiaries(Changes in specific subsidiaries accompanied by changes in the scope of consolidation): None
Newly consolidated company: None
Excluded: None
(2) Changes in accounting principles and estimates, and retrospective restatement(a) Changes due to revision of accounting standards: None(b) Changes other than in (a): None(c) Changes in accounting estimates: None(d) Retrospective restatement: None
(3) Number of shares outstanding (common stock)(a) Shares outstanding
End of FY2024:(including treasury shares)(b) Treasury shares

89,580,827 shares

End of FY2023:

89,580,827

sharesEnd of FY2024:

114,669 shares

End of FY2023:

154,055

shares

FY2024:89,454,398 shares

FY2023:89,431,954

shares(c) Average number of shares
outstanding during the year

[Reference] Non-consolidated Financial Results
1. Non-consolidated financial results for the fiscal year ended March 2024 (April 1, 2023 – March 31, 2024)(1) Result of Operations (Non-consolidated)(Percentage figures represent year on year changes)
Net sales
Operating profit
Ordinary profit
ProfitMillion yen

FY2024FY2023%364,944304,377

19.9
23.6

Million yen

%

6,352
536

‒
‒

12,726
5,833

%

118.2
(8.3)

Million yen

12,783
10,701

%

19.5
86.8

Earnings per share fully
dilutedEarnings per shareYen

FY2024FY2023

Million yen

Yen

142.91
119.66(2) Financial Position (Non-consolidated)
Total assets
Million yen‒‒

Net assets

Equity ratio

Million yen

Net assets per share%

As of March 31, 2024
212,160
84,64339.9
As of March 31, 2023
193,372
67,312
34.8
Reference: Shareholders’ equity: As of March 31, 2024: 84,643 million yen
As of March 31, 2023: 67,312 million yen

Yen

946.09752.71* This report is exempt from the audit procedure by certified public accountants or accounting firms.
* Cautionary statement regarding forecasts of operating results and special notes
The forward-looking statements contained in this report are based on information currently available to management. As such, theseestimates are subject to uncertainties. In addition, actual results may differ materially from those discussed in the forward-looking
statement due to in changes in the economy, markets, stock prices and exchange rates.

Index for Supplementary Information
1. Results of Operations ........................................................................................................................................................................2(1) Overview on consolidated business performance for the current fiscal year ...............................................................................2(2) Analysis of financial condition ...................................................................................................................................................2(3) Cash flows ...................................................................................................................................................................................3(4) Outlook .......................................................................................................................................................................................3
2. Basic Position concerning Selection of Accounting Standards .........................................................................................................3
3. Consolidated Financial Statements and Important Notes ..................................................................................................................4(1) Consolidated balance sheet .........................................................................................................................................................4(2) Consolidated statements of income and comprehensive income .................................................................................................6(3) Consolidated statement of changes in equity ..............................................................................................................................8(4) Consolidated statement of cash flows ....................................................................................................................................... 10(5) Notes to the consolidated financial statements .......................................................................................................................... 11(Notes to going concern assumptions) ........................................................................................................................................ 11(Additional information) ............................................................................................................................................................. 11(Segment information) ................................................................................................................................................................ 11(Per-share information) ............................................................................................................................................................... 13(Significant subsequent events)................................................................................................................................................... 13―1―

1. Results of Operations(1) Overview on consolidated business performance for the current fiscal year
During the fiscal year under review, the global economy experienced a sluggish recovery. This primarily reflected the weaknessof economic activities in Europe due to continued monetary tightening and a slowdown in growth in China linked partly to theslump of the real estate market, although the U.S. economy remained firm given rising employment and growth in consumer
spending. In Japan, there were signs of a moderate recovery on the back of improvements in the employment and income
environment and growth in inbound demand.
Looking at the automotive industry overall, the number of new vehicles sold increased year on year in all regions due to theeasing of production constraints caused by semiconductor shortages, among other factors. Nonetheless, the industry faced
challenges, such as cost increases due mainly to high prices of raw materials and rising labor costs and intensifying competitionin the BEV market, especially in China, throughout the year.
In this situation, the Group has established “strengthening earnings capacity and working to increase free cash flow (FCF)” as
medium-term management targets from FY2022 to FY2024. By further strengthening earnings capacity mainly throughimprovements in production efficiency and working to achieve robust increases in FCF, the Group will secure returns toshareholders and allocate funds for the repayment of interest-bearing debt and investment for future growth.
The Group will continue to provide value to shareholders, investors and all stakeholders, including customers, employees andlocal communities. It will also strive to make available information regarding earnings and results achieved through the businessactivity of offering products and services that bring value to society in three areas: the environment, security and affluent
lifestyles.
Net sales increased 12.4% from the previous fiscal year to 795.8 billion yen. On the profit side, operating profit increased
150.1% year on year, to 19.2 billion yen due to positive factors such as higher sales in the parts business, while ordinary profit
increased 138.0%, to 18.4 billion yen year on year. Profit attributable to owners of parent stood at 12.8 billion yen, a 21.3%
increase from the year-ago level partly due to the posting of income taxes - deferred (profit).
Geographic segment performance was as follows.
1) JapanNet sales climbed 19.8% year on year to 365.8 billion yen, up 60.5 billion yen. Segment profit was up 220.6% to 9.8 billionyen.
2) North America
Net sales climbed 29.2% year on year to 222.8 billion yen, up 50.3 billion yen. The segment profit was 3.4 billion yen(compared to a segment loss of 0.7 billion yen in the same period of the previous fiscal year).
3) Europe
Net sales climbed 9.0% year on year to 74.4 billion yen, up 6.1 billion yen. Segment profit was up 112.7% to 2.0 billion
yen.
4) China
Net sales decreased 18.6% year on year to 83.2 billion yen, down 18.9 billion yen. Segment profit decreased 15.6% to 2.2
billion yen.
5) Asia
Net sales decreased 16.8% year on year to 58.4 billion yen, down 11.7 billion yen. Segment profit decreased 4.3% to 1.4
billion yen.
(2) Analysis of financial condition
Total assets at the end of the fiscal year under review were 334.7 billion yen, an increase of 15.0 billion yen compared to theend of the previous fiscal year, mainly due to an increase in cash and deposits. Total liabilities came to 203.8 billion yen, down
16.1 billion yen from the end of the previous fiscal year, chiefly attributable to decrease in notes and accounts payable - tradeand long-term borrowings. Net assets increased 31.1 billion yen from the end of the previous fiscal year to 130.9 billion yen
due mainly to an increase in retained earnings.

―2―

(3) Cash flows
Cash and cash equivalents of the Futaba Group increased 13.9 billion yen from the end of the previous fiscal year to 24.2 billion
yen. The major components of cash flows were as follows.
(Cash flows from operating activities)
Net cash provided by operating activities increased 9.6 billion yen (20.2%) to 57.3 billion yen. The result was mainly due toan increase in profit before income taxes.
(Cash flows from investing activities)
Net cash used in investing activities decreased 6.0 billion yen (27.3%) to 16.2 billion yen. This was mainly due to a decreasein purchase of property, plant and equipment.
(Cash flows from financing activities)
Net cash used in financing activities in the fiscal year under review was 27.7 billion yen (compared to net cash used of 22.0
billion yen in the previous fiscal year). This mainly reflected repayments of long-term borrowings and redemption of bonds.
(4) Outlook
Looking at the outlook for the fiscal year ending March 2025, the environment surrounding the Futaba Group is still uncertain
but, by focusing on initiatives such as a review of the production system, improvement of production efficiency, promotion of
cost improvement, a review of the supply chain, and reduction of logistics expenses, the Company forecasts net sales of 740.0
billion yen (a decrease of 7.0% year on year), operating profit of 16.0 billion yen (a decrease of 16.7% year on year), ordinary
profit of 15.0 billion yen (a decrease of 18.9% year on year), and profit attributable to owners of parent of 12.0 billion yen (adecrease of 6.5% year on year).

2. Basic Position concerning Selection of Accounting Standards
Company manuals, guidelines and other materials are being revised to prepare for transition to IFRS. The timing of adoption of
the IFRS standard is currently under consideration.

―3―3. Consolidated Financial Statements and Important Notes(1) Consolidated balance sheet(Million yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - tradeFinished goods
Work in process
Raw materials and supplies

10,335100,906
7,095
15,354
7,894

Other
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures

As of March 31, 2024

25,02989,572
6,714
15,024
7,370

10,605

9,805

152,191

153,518

86,423

93,108

Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net(52,953)
33,469262,533(200,464)
62,068(57,359)
35,748271,653(211,742)
59,911Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net

99,080(84,891)
14,188109,378(95,852)
13,525Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Retirement benefit asset

14,61817,975(16,459)
1,515
13,375
139,235

14,853
18,986(16,582)
2,403
9,724
136,167

1,637
22
1,660

1,810
86
1,896

16,28737
8,700

26,61933
14,592

Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets

1,226
461
(34)
26,680

1,535
424
(8)
43,197

167,576
319,768

181,262
334,780

Total non-current assets
Total assets―4―

(Million yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Current portion of bonds payable
Short-term borrowings
Current portion of long-term borrowings

As of March 31, 2024

96,153
5,699
6,000
9,464
7,581

86,135
3,790
‒
1,105
11,773

984
1,393
33
12,909

2,639
2,498
33
15,575

7,567
147,787

14,376
137,926

6,000
51,818
3,117
274
‒

6,000
41,137
10,191
388
933

9,619
1,403
72,233

5,057
2,243
65,951

Total liabilities

220,021203,878

Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares

16,8209,182
48,641(62)

16,8209,186
58,893(46)

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment

74,581

84,853

7,500
9,802

14,712
16,094Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

2,187
19,4895,675
99,747319,768

8,718
39,525
6,523
130,901
334,780

Income taxes payable
Accrued consumption taxes
Provision for bonuses for directors (and other officers)
Accrued expenses
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Deferred tax liabilities
Provision for product warranties
Provision for dismantlement and removal
Retirement benefit liability
Other
Total non-current liabilities―5―(2) Consolidated statements of income and comprehensive income
Consolidated statement of income(Million yen)
Fiscal year ended March 31, 2023
(Apr. 1, 2022 – Mar. 31, 2023)

Fiscal year ended March 31, 2024
(Apr. 1, 2023 – Mar. 31, 2024)

Net sales
Cost of sales
Gross profit

708,072
675,058
33,013795,802748,260
47,542

Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Gain on sales of scraps
Share of profit of entities accounted for using equity
methodForeign exchange gains
Insurance claim income
Miscellaneous income

25,332
7,681

28,32919,213

209
405
463

617
456
382

260

‒

‒
2
925

668
559
693

Total non-operating income
Non-operating expenses
Interest expenses
Loss on abandonment of non-current assets

2,266

3,379

1,402
240

992
403

‒

150

141
40

‒
665

Litigation settlement
Provision for dismantlement and removal
Miscellaneous loss
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of investment securities

‒
‒
354
2,178
7,768

573
933
384
4,102
18,4891,604‒

Total extraordinary income
Extraordinary losses
Impairment loss

1,604

‒

1,454

‒

Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

1,454
7,917
2,068
(5,055)(2,987)
10,904328
10,576‒18,489
4,301
766
5,067
13,422590
12,831

Share of loss of entities accounted for using equity
methodForeign exchange losses
Loss on valuation of derivatives―6―

Consolidated statement of comprehensive income(Million yen)
Fiscal year ended March 31, 2023
(Apr. 1, 2022 – Mar. 31, 2023)

Fiscal year ended March 31, 2024
(Apr. 1, 2023 – Mar. 31, 2024)

10,904

13,422(483)
2,579(1,799)

7,210
5,930
6,531

165

427

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests

―7―

462

20,09911,36733,521

10,79632,399570

1,122

(3) Consolidated statement of changes in equity
Previous fiscal year (Apr. 1, 2022 – Mar. 31, 2023)(Million yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

16,8209,183

Retained earnings

Treasury shares

Total
shareholders’equity(14)

64,95038,961

Changes during period
Dividends of surplus
Profit attributable to owners ofparent

(895)

(895)

10,576

10,576

Purchase of treasury shares
Disposal of treasury shares

(1)

(70)

(70)

22

21

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

‒

(1)

9,680

(48)

9,631

16,8209,182

48,641(62)

74,581

Noncontrollinginterests

Total net assets

5,794

90,014

Accumulated other comprehensive income
Total
Valuation
Foreign currency Remeasurements
accumulateddifference ontranslationof defined benefit
otheravailable-for-saleadjustment
planscomprehensive
securities
incomeBalance at beginning of period

7,982

7,300

3,986

19,269Changes during period
Dividends of surplus(895)

Profit attributable to owners ofparent10,576

Purchase of treasury shares(70)

Disposal of treasury shares

21

Net changes in items otherthan shareholders’ equity

(481)

2,501

(1,799)Total changes during period

(481)

2,501

(1,799)

220

(119)

9,732

Balance at end of period

7,500

9,802

2,187

19,4895,675

99,747

―8―

220

(119)

101

Current fiscal year (Apr. 1, 2023 – Mar. 31, 2024)(Million yen)
Shareholders’ equity

Balance at beginning of period

Share capital

Capital surplus

16,8209,182

Retained earnings

Treasury shares

Total
shareholders’equity(62)

74,581

48,641

Changes during period
Dividends of surplus(2,683)(2,683)

Profit attributable to owners ofparent12,831

12,831

Purchase of treasury shares
Disposal of treasury shares

4

Changes following change ofaccounting period of
consolidated subsidiaries

(0)

(0)

16

20

103

103

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

410,251

15

10,271

16,8209,186

58,893(46)

84,853

Noncontrollinginterests

Total net assets

5,675

99,747

Accumulated other comprehensive income
Total
Valuation
Foreign currency Remeasurements
accumulateddifference ontranslationof defined benefit
otheravailable-for-saleadjustment
planscomprehensive
securities
incomeBalance at beginning of period

7,500

9,802

2,187

19,489Changes during period
Dividends of surplus(2,683)

Profit attributable to owners ofparent12,831

Purchase of treasury shares(0)

Disposal of treasury shares

20

Changes following change ofaccounting period of
consolidated subsidiaries

103

Net changes in items otherthan shareholders’ equity

7,211

6,292

6,531

20,035847

20,883

Total changes during period

7,211

6,292

6,531

20,035847

31,154

Balance at end of period

14,712

16,094

8,718

39,525

6,523

130,901―9―

(4) Consolidated statement of cash flows(Million yen)
Fiscal year ended March 31, 2023
(Apr. 1, 2022 – Mar. 31, 2023)

Fiscal year ended March 31, 2024
(Apr. 1, 2023 – Mar. 31, 2024)

7,917
29,672
1,454

18,48930,653
‒

‒

(25)

0

(0)

49

114

‒

933

(614)
1,402

(1,074)
992

222

400

(260)

150

40
(1,607)(8,664)772
21,188
(455)
(639)
236
50,716672(1,342)(2,303)47,743665(4)18,562
2,853(19,413)
243
4,399
900
58,8401,250(1,014)(1,705)57,370‒(24,179)
81
(621)

(723)
(14,917)
219
(805)

2,400

13

12
(22,307)4(16,208)(7,468)15,064(26,892)
(766)
‒
(895)
(980)
(70)
(22,009)(9,206)‒(8,926)(515)(6,000)(2,676)(419)(0)(27,746)

174

(449)

3,600
6,730

12,966
10,331‒

979

10,331

24,277

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Increase (decrease) in allowance for doubtful
accounts
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in provision for productwarranties
Increase (decrease) in provision for dismantlement
and removalInterest and dividend income
Interest expenses
Loss on abandonment of property, plant andequipment
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on valuation of derivatives
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes
Increase (decrease) in other current liabilities
Other
SubtotalInterest and dividends received
Interest paid
Income taxes (paid) refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Proceeds from sales and redemption of investment
securities
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease obligations
Redemption of bonds
Dividends paid
Dividends paid to non-controlling interests
Other
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase (decrease) in cash and cash equivalents
resulting from change in closing dates of consolidated
subsidiaries
Cash and cash equivalents at end of period―10―(5) Notes to the consolidated financial statements(Notes to going concern assumptions)
None(Additional information)(Change of matters related to the fiscal years of consolidated subsidiaries)
The Company’s seven overseas consolidated subsidiaries in China previously had their fiscal year end on December 31 andmade the necessary adjustments to their financial statements as of December 31 to reflect any material transactions occurring
between December 31 and the consolidated fiscal year end. However, to disclose consolidated financial statements more
properly, the consolidated subsidiaries adopted a method of making a provisional settlement of accounts, starting from thefiscal year under review.
Following the above adoption, profitability in a three-month period from January 1, 2023 to March 31, 2023 has been reflected
through the adjustment of retained earnings for the fiscal year under review.
(Segment information)(Segment information)
1. Overview of reportable segment information
The reportable segments are the constituent units of Futaba for which separate financial information can be obtained andfor which the Board of Directors performs periodic examinations to determine the allocation of resources and to assess
results of operations.
Futaba is engaged primarily in the manufacture and sale of parts for automobiles and other motor vehicles. Futaba andsubsidiaries perform operations in Japan and subsidiaries in North America, Europe, China and Asia perform operations
outside Japan. Each overseas subsidiary is managed separately and conducts operations for products based on acomprehensive strategy for its respective region.
Consequently, Futaba consists of geographic segments that include manufacturing and sales operations. There are fivereportable segments: Japan, North America, Europe, China and Asia. Each reportable segment is engaged in the
manufacture and sale of parts for automobiles and other motor vehicles.
2. Method for determining sales, profit or loss, assets, liabilities and other items for reportable segments
The accounting method for reportable segments is generally the same as the accounting policies adopted for preparation of
the consolidated financial statements. Intersegment revenue and transfers are based on prevailing market prices.

―11―

3. Reportable segment sales, profit or loss, assets, liabilities and other information
Previous fiscal year (Apr. 1, 2022– Mar. 31, 2023)(Million yen)
Reportable segments

Net sales
Of which tooutside customers
Of which intersegment andtransfers
Total

Japan

North
America

295,015

172,378

10,333

EuropeAdjustments(Notes)

Total

China

Asia

Total

68,331102,111

70,236708,072‒

708,072

153

0

169

2

10,659(10,659)‒

305,348

172,532

68,331

102,281

70,238

718,732(10,659)

708,072

Segment profit(loss)

3,056

(739)

975

2,626

1,502

7,421

259

7,681

Segment assets

179,302

92,021

24,64036,63921,676354,281(34,512)319,768

Other
Depreciation

16,994

6,609

1,478

4,034

735

29,853(180)

29,672Notes
1. Adjustments are as follows.
(1) The segment profit (loss) adjustment of 259 million yen is for the elimination of intersegment transactions.
(2) The segment assets adjustment of negative 34,512 million yen includes a 14,579 million yen addition for corporate assets
and a 49,092 million yen deduction for netting out amounts receivable and payable. Corporate assets are primarily funds(cash, deposits and investment securities) at the parent company.
2. Segment profit (loss) is adjusted to the operating profit in consolidated statements of income.
Current fiscal year (Apr. 1, 2023 – Mar. 31, 2024)(Million yen)
Reportable segments

Net sales
Of which tooutside customers
Of which intersegment andtransfers
Total

Japan

North
America

356,737

222,841

74,4799,12235

EuropeChina

Adjustments(Notes)

Total

Asia

Total

83,29358,450795,802‒795,802

1

5

3

9,168

(9,168)‒795,802

365,859

222,877

74,48083,29958,454804,971(9,168)Segment profit

9,800

3,489

2,075

2,216

1,437

19,019193

19,213

Segment assets

191,167

77,31628,14033,876

19,580350,080(15,300)

334,780

Other
Depreciation

17,674

6,600

1,678

4,156

722

30,831(178)

30,653Notes
1. Adjustments are as follows.
(1) The segment profit adjustment of 193 million yen is for the elimination of intersegment transactions.
(2) The segment assets adjustment of negative 15,300 million yen includes a 31,165 million yen addition for corporate assets
and a 46,465 million yen deduction for netting out amounts receivable and payable. Corporate assets are primarily funds(cash, deposits and investment securities) at the parent company.
2. Segment profit is adjusted to match the operating profit in the consolidated statements of income.

―12―(Per-share information)
Fiscal year ended March 31, 2023

(Yen)
Fiscal year ended March 31, 2024

Net assets per share

1,051.94

1,390.23

Earnings per share

118.26143.44

Notes: 1. Diluted earnings per share is not shown because there were no common share equivalents.
2. The basis for computing the earnings per share is as follows.
Fiscal year ended March 31, 2023
Profit attributable to owners of parent (million yen)

Fiscal year ended March 31, 2024

10,576

12,831‒‒

Profit attributable to owners of parent available tocommon shares (million yen)

10,576

12,831

Average number of shares outstanding during theyear (1,000 shares)

89,43189,454

Profit not attributable to common shareholders(million yen)

3. The basis for calculating net assets per share is as follows.
As of March 31, 2023

As of March 31, 2024

Net assets (million yen)

99,747130,901

Deduction from net assets (million yen)

5,675

6,523

(5,675)(6,523)

Net assets for common shares at end of period(million yen)

94,071

124,378

Common shares at end of period for calculating net
assets per share (1,000 shares)

89,42689,466

Of which amount for non-controlling interests(million yen)

(Significant subsequent events)
None

―13―

April 25, 2024 Futaba Industrial Co. Ltd.

Supplementary data for the fiscal year ended March 2024
1. Consolidated financial results(Million yen, rounded down)
The fiscal year under review

The previous fiscal year

(From April 2023 to March 2024) (From April 2022 to March 2023)% of total

ChangeChange (%)

Forecasts for the following
fiscal year
(From April 2024 to March 2025)% of total

Net sales (including parts supplied bycustomers)☆

795,802(excluding parts supplied by customers)☆

449,664( 100.0% )397,225( 100.0% )Operating profit☆

19,213( 4.3% )7,681( 1.9% )Ordinary profit☆

18,489( 4.1% )7,768

Profit attributable to owners of parent☆

12,831( 2.9% )10,576708,072

ChangeChange (%)% of total
87,73012.4%

740,000-55,802-7.0%

52,43813.2%

435,000( 100.0% )-14,664-3.3%

11,531150.1%

16,000( 3.7% )-3,213-16.7%( 2.0% )10,721138.0%

15,000( 3.4% )-3,489-18.9%( 2.7% )

2,254

21.3%

12,000( 2.8% )

-831

-6.5%

Earnings per share

143.44118.26134.15

Capital expenditures (Completion basis)

19,214

22,790-3,575-15.7%

29,000

9,785

50.9%

Depreciation

30,65329,672980

3.3%

25,000-5,653-18.4%

Foreign exchange rate (USD/Yen)

144.6

135.5

140.0

Number of consolidated companies

21

21

21

(Note 1) Figures with ☆ indicate record highs. (Note 2) Figures in parentheses indicate the net sales ratio excluding parts supplied by customers.

* Supplementary explanations regarding year-on-year change in net sales

Sales in real terms, excluding the effects of changes inmaterials quoted prices and fluctuations in foreignexchange rates, increased 25.8 billion yen (6.5%)
compared to the same period of the previous fiscal year.

- Meaning of the term "parts supplied by customers"
Catalysts and other parts supplied for value by customers
Sales prices of products, including parts supplied by customers, include
values of parts supplied by customers and have no impact on profits.
- Meaning of the term "changes in materials quoted prices"
It means that, due to changes in market conditions, unit purchase prices ofmaterials and materials costs, which are components of sales prices,fluctuate by the same amount.
There is no impact on profits because sales and costs fluctuate by the sameamount.

2. Factors for increase/decrease in operating profit (year-on-year comparison)
Factors for profit increase(Billion yen)AmountFactors for profit decrease

AmountIncrease in profit due to higher sales in the Automotive Parts Business

8.7

Impact of inflation

2.4

Rationalization enhancement

6.9

Price fluctuations

1.9

Changes in product mix, etc.

2.3

Decrease in profit outside the Automotive Parts Business

1.1

Increase in depreciation

1.0

Total

17.9
Net balance

Total

6.4

11.5

Increase in operating profit

3. Financial results by segment (excluding parts supplied by customers)
The fiscal year under review(Million yen, rounded down)

The previous fiscal year

(From April 2023 to March 2024) (From April 2022 to March 2023)

Profit margin
Japan

Net sales(excluding parts supplied by customers)
Operating profit

North
America

Europe

China

Asia

Net sales(excluding parts supplied by customers)

9,800

3,489

Net sales(excluding parts supplied by customers)

41,219Operating profit

2,075

Net sales(excluding parts supplied by customers)

64,177

3,056

1.6%

94,000
3.1%

-739

-0.8%

33,263
5.0%

975

2.9%

72,640(From April 2024 to March 2025)

17.6%

222,000

6,743

220.6%

8,800

17,191

18.3%

119,000

4,229

-

4,100

7,955

23.9%

35,5001,099

112.7%

200-8,463-11.7%

51,000-410-15.6%

1,300

477

2.9%

19,500

-64

-4.3%

1,600

4.0%

3.4%

0.6%

-1.6%

-1,000-10.2%

7,808

7.0%

610

17.5%

-5,719-13.9%-1,875-90.4%-13,177-20.5%

Operating profit

1,437

Net sales-9,168-10,659

1,490-12,000-2,831

193

259

-66

0

-193

449,664
19,213

8.6%

1,502

9.3%

397,225
4.3%

7,681

1.9%

52,43813.2%

435,000

11,531150.1%

16,0002.5%-3,5582,216

Operating profit

3.6%

33,786

16,686

16,208Change (%)

Profit margin

Net sales(excluding parts supplied by customers)

Net sales(excluding parts supplied by customers)

2,626

ChangeOperating profit

Operating profit

3.5%

Change (%)

Profit margin

191,772
4.3%

111,191

Operating profit

Elimination

Total

225,558

ChangeForecasts for the following
fiscal year

8.2%

3.7%

-916

-41.3%

2,813

16.9%

162

11.3%

-14,664-3.3%-3,213-16.7%