2024年3月期期末
決算説明資料
Fiscal Year Ending March, 2024
Financial Results

2024年5月15日
株式会社エフテック「エフテック」で検索
https://www.ftech.co.jp

証券コード：7212
Copyright(c) 2024 F-TECH INC. All Right Reserved1Table of Contents

1 決算概要Financial Summary

2 業績予想Earnings Forecast

3 経営戦略Management Strategy

4 トピックス
Copyright(c) 2024 F-TECH INC. All Right Reserved

Topics2

Table of Contents

1 決算概要Financial Summary

2 業績予想Earnings Forecast

3 経営戦略Management Strategy

4 トピックス
Copyright(c) 2024 F-TECH INC. All Right Reserved

Topics3

Consolidated Financial Results Overview（Year on Year）(Unit: Million yen)

FY Mar. 2023 Actual

FY Mar. 2024 Actual

261,156

100.0％

298,759

100.0％

37,603

14.4％

Operating profit

2,038

0.8％

3,708

1.2％

1,669

81.9%

Ordinary profit

1,921

0.7％

3,001

1.0％

1,080

56.3%

Net income attributable toparent company shareholders

1,734

0.7％

1,683

0.6％

▲51

▲2.9%

Earnings per share (Yen)

93.30

－

90.62

－

▲2.68

－

Sales

FY Mar. 2023 Actual

FY Mar. 2024 Actual

ChangeChange１US$136.00Yen

145.32Yen

9.32Yen

１CAN$

102.49Yen

107.65Yen

5.16Yen

１人民元

19.49Yen

19.88Yen

0.39YenSales, operating profit, and ordinary profit showed an increase, while net income attributable to parent company shareholders experienced a decline incomparison to the prior period. The exchange rate is currently demonstrating a trend towards depreciation of the yen.
Copyright(c) 2024 F-TECH INC. All Right Reserved4Consolidated Sales（Year on Year）（Unit：%）（Unit：Million Yen）

400,000

Consolidated Sales by Segment(Amount
261,156
298,759

300,000
200,000
100,000
0

Sales Share（%）)

Japan 8.9%

Japan 10.3%

Japan 30,612
Japan 23,355

N.America

N.America

65.0%

69.1%

N.America

N.America

169,650

206,501

Asia 68,149

Asia 61,645

Asia 26.1%

Asia 20.6%

FY Mar. 2023
ActualFY Mar. 2024
ActualFY Mar. 2023
ActualFY Mar. 2024
Actual（Japan）+1.4％（N.America）+4.1％（Asia）▲5.5％

Change in Consolidated SalesFY Mar. 2023

FY Mar. 2024

ChangeChange(%)

FX Impact

Real Difference

Change(%)

Japan

23,35530,612

7,256

31.1％

ー

7,256

31.1％

N.America

169,650

206,501

36,851

21.7％

11,952

24,899

14.7％

Asia

68,14961,645▲6,504

▲9.5％

1,981

▲8,485▲12.5％

Consolidated

261,156

298,759

37,603

14.4％

13,933

23,670

9.1％

Sales in the Japan and North America regions experienced an increase due to new orders received from customers in theseareas. Conversely, sales in the Asia region witnessed a decline as a result of the swift transition to electric vehicles.
Copyright(c) 2024 F-TECH INC. All Right Reserved5Consolidated Operating Profit by Segment （Year on Year）（Unit：Million Yen）

AmountFY Mar.
2023

FY Mar.
2024

ActualActualChange

(%)

417

1,352

935

224.1%

N.America▲1,040

758

1,799

ー

Asia

2,340

1,511

▲828

▲35.4％

Total

1,716

3,622

1,905

111.0％

Adjustment

321

85

▲236

▲73.5％

Consolidated

2,038

3,708

1,669

81.9％

Japan

Operating profit surged by 81.9%. In Japan, a significant uplift in operating profit was observed in comparison to the priorterm. In the North America region, the operating profit concluded positively, indicating a surplus. Conversely, in the Asia
region, a downturn in operating profit was noted due to reduced production levels in China in comparison to the prior term.
Copyright(c) 2024 F-TECH INC. All Right Reserved

6Consolidated Operating Performance by Segment （Japan）
23,35530,612

Change7,256

Change%31.1％

FY Mar. 2024

Change417

Real Change

7,256

Change %31.1％

FY Mar. 2023

Reason of Change

12

Decrease in sales of Machinery and Tools.
(Intercompany sales of dies and equipment)

Change%FY Mar. 2024

ーReal Change

935

Change %224.1％

6,029

1▲3,813

2

The effect of the decline in Machinery and Tools sales.

▲841

379

3

Profit increased due to an increase in sales of technical services.

379

4

Profit rose as a result of increased sales within our subsidiarycompanies in Japan.

237

4

Increase in sales of subsidiary companies in Japan.

1,075

5

Decrease in elimination of intra-group/intercompany transactions.

3,586
Total

FY Mar. 2023
Quarterly Trends
FY Mar. 2024
8,661
7,216
6,601
6,006
5,422
4,695

7,256

3Q

7,232 8,134

4Q

1,160

Total

15

Quarterly Trends
357
510
288

1Q

935

FY Mar. 2023
FY Mar. 2024
746

234
▲ 53

▲ 328
2Q

224.1％FX Impact

Profit rose as a result of increased product sales.

Increase in sales of technical services.(Royalty, development fee, etc.)

1Q

935

Reason of Change

Increase in product sales attributed to the acquisition of new orders.

3

1,352

ー

FX Impact

FY Mar. 2023

（Unit：Million Yen）

Operating Profit

Sales

2Q

3Q

4Q

The increase in sales and profit was attributed to the effects of mass production for TOYOTA and improved
production following the resolution of the semiconductor shortage.
Copyright(c) 2024 F-TECH INC. All Right Reserved

7

Consolidated Operating Performance by Segment （North America）
Sales
169,650FY Mar. 2023

Operating Profit

206,501

FY Mar. 2024

Change36,851

Change %21.7％

FX Impact

11,952

Real Change

24,899Change %14.7％

Reason of Change

125,4272

Decrease in sales of Machinery and Tools.

▲528

3

The effect of foreign exchange conversion.

11,952

Total

37,013

1Q

Quarterly Trends
41,456 46,221 42,559 51,776
2Q

FY Mar. 2023

758

FY Mar. 2024

Change1,799

Change %ーFX Impact

46

Real Change

1,753

Change %ー

Reason of Change

Increase in product sales(HM +23,928,Others +1,499)

50,783▲1,040（Unit：Million Yen）

3Q

1

The increase in profit was due to the increase in product sales.

2

The increase in labor costs was attributed to thetightening demand and supply of labor.

3

The decrease in profit was due to the decline in sales of
Machinery and Tools.

4

The effect of foreign exchange conversion.

36,851

48,622 57,721▲1,574

Quarterly Trends▲ 1,014 239

4Q▲ 1,192▲ 118 266

▲363
46

Total

FY Mar. 2023
FY Mar. 2024

3, 6901,799

FY Mar. 2023
FY Mar. 2024
1,283 1,977▲ 1,725

The receipt of new orders and the resolution of the semiconductor shortage contributed to enhanced mass
production, leading to an increase in both sales and profits
Copyright(c) 2024 F-TECH INC. All Right Reserved

8Consolidated Operating Performance by Segment （Asia）
Sales
Change68,14961,645FY Mar. 2023

（Unit：Million Yen）

Operating Profit

FY Mar. 2024

▲6,504

Change▲828

Change %▲35.4％

1,981

FX Impact85▲8,485

Real Change▲913

Change %▲39.0％

Change %▲9.5％

FX Impact
Real Change

Change %▲12.5％2,340

FY Mar. 2023

1,511

FY Mar. 2024
Reason of Change

Reason of Change
1（China）Decrease in product sales.

▲10,023

1(China)Profit decline resulting from reduced product sales.

2（APAC）Increase in product sales.

1,538

2

（APAC）Increase in profit due to higher product sales.

3

The effect of foreign exchange conversion.

1,981

3

The effect of foreign exchange conversion.

Total

18,104

13,815

1Q

14,570 14,668

2Q

20,16015,314

3Q

15,316

17,847

4Q

535
85

Total

▲6,504FY Mar. 2023
FY Mar. 2024

Quarterly Trends▲1,448663

Quarterly Trends
1,154
736
109

42
1Q ▲ 283

2Q

3Q

▲828

FY Mar. 2023
FY Mar. 2024

949

482
4Q

The decrease in both sales and profit was a result of the swift transition to electric vehicles in the Chinese market.
Copyright(c) 2024 F-TECH INC. All Right Reserved

9Changes in Operating Profit by Segments (FY Mar. 2024 ４Q Actual)
4,174

2,038

FY Mar.
2023▲1,574

Product
Sales
ImpactMachinery andTools, andTechnical
services Sales
Impact

Japan

417

1,397

▲462

N.America▲1,040

3,690

▲363

Asia

2,340

▲913

Adjustment

321

Consolidated

2,038

3,708

131

▲825

4,174

▲825

Labor cost

▲1,574▲1,574▲236

FX Impact

Consolidated
Adjustment

FY Mar.
2024

Change

1,352

935

46

758

1,799

85

1,511

▲828

▲236

85

▲236

▲236

3,708

1,669

131

Copyright(c) 2024 F-TECH INC. All Right Reserved

10Table of Contents

1 決算概要Financial Summary

2 業績予想Earnings Forecast

3 経営戦略Management Strategy

4 トピックス
Copyright(c) 2024 F-TECH INC. All Right Reserved

Topics11

Consolidated Sales Forecast（ Forecast of FY Mar. 2025）（Unit：Million Yen）

FY Mar. 2024 Actual

FY Mar. 2025 Forecast

Change298,759

100.0％

302,000

100.0％

3,241

1.1％

Operating profit

3,708

1.2％

4,700

1.6％

992

26.8％

Ordinary profit

3,001

1.0％

2,500

0.8％

▲501

▲16.7％Net income attributable toparent company
shareholders

1,683

0.6％

600

0.1％

▲1,083▲64.3％

Earnings per share (Yen)

90.62

－

32.31

－

▲58.31ーSales

FY Mar.2024 Actual

FY Mar.2025 Forecast

Change１US$145.32Yen

145.00Yen▲0.32Yen

１CAN$

107.65Yen

110.00Yen+2.35Yen

１Yuan(RMB)

19.87Yen

20.50Yen+0.63Yen

Sales and operating profit are anticipated to rise. However, ordinary profit and profits reported below ordinary profit are expected
to decline in comparison to the prior term.
Copyright(c) 2024 F-TECH INC. All Right Reserved

12Consolidated Sales Forecast (Compared to 2024 Actual）（Unit：%）（Unit：Million Yen）

350,000

Consolidated Sales by Segment(Amount)
298,759

302,000

Japan 30,612

Japan 30,113

200,000

N.America

150,000

206,501

300,000

Sales Share(%)
Japan 10.3%

Japan 10.0%（Japan）▲0.3％

N.America

N.America

N.America

217,062

69.1%

71.9%

（N.America）+2.8％

250,000

100,000
50,000（Asia）▲2.5％

Asia 61,648

Asia 54,824

Asia 20.6%

Asia 18.1%

FY Mar.2024

FY Mar.2025 Forecast

FY Mar.2024

FY Mar. 2025 Forecast

0Change in Consolidated SalesFY Mar.2024

FY Mar.2025
Forecast

ChangeChange ％FX Impact

Real Change

Change %Japan

30,612

30,113

▲499

▲1.6%

―

▲499

▲1.6%

North America

206,501

217,062

10,561

5.1%

2,973

7,588

3.7%

Asia

61,64554,824▲6,821▲11.1%

995▲7,816▲12.7%

Consolidated

298,759

302,000

3,241

1.1%

3,968

▲727

▲0.2%

It is anticipated that sales will increase due to the impact of foreign exchange rates. However, excluding the effects of currency fluctuations, a decreasein sales is foreseen.
Copyright(c) 2024 F-TECH INC. All Right Reserved

13Consolidated Operating Profit Forecast by Segment (Compared to 2024 Actual )（Unit：Million Yen）

AmountFY Mar.
2025年

FY Mar.
2024

ChangeActualChange(%)

Forecast

Japan

1,352

488

▲864

▲63.9%

N.America

758

3,322

2,564

338.3%

Asia

1,511

838

▲673

▲44.5％

Total

3,622

4,648

1,026

28.3％

Adjustment

85

52

▲33

▲38.8％

Consolidated

3,708

4,700

992

26.8％

The forecasted operating profit stands at 4.7 billion yen, representing an increase in profit of 990 million yen when compared to the actual figures forthe prior term. In the North America region, the forecasted operating profit stands at 3.32 billion yen, representing an increase in profit of 2.564 billion
yen compared to the actual figures for the prior term. As for Japan and Asia regions, profits are expected to decrease.
Copyright(c) 2024 F-TECH INC. All Right Reserved

14

Sales Changes by Customer
100.0%

7.0%
0.0%

9.0%

90.0%
80.0%
70.0%

9.1%
0.8%
2.1%

1.1%
3.4%
10.9%

0.0%
0.8%
3.0%
12.7%

4.5%
9.3%

5.6%

4.7%

9.3%
0.6%
2.8%

7.5%

60.0%
50.0%

8.7%
0.3%
2.7%

8.8%
0.8%
3.1%

Others

5.4%

7.2%

11.4%

10.0%

6.9%
8.2%

9.4%

9.6%

10.7%

60.4%

61.0%

60.9%

R(EV)
YAMAHA
S

71.9%

70.0%

66.8%

40.0%

TOYOTA

30.0%

GM

20.0%

Te

10.0%

HONDA

0.0%
20/3期2020
FY

HONDA

21/3期
FY
2021

FY22/3期
2022

FY 23/3期
2023

24/3期
FY 2024

25/3期予算
FY 2025
Forecast

153,004

132,123

128,269

157,846

182,244

183,856

Te

10,211

10,374

14,317

24,54928,59032,242

GM

27,71920,051

17,791

29,90029,95424,782TOYOTA

6,471

6,178

8,563

14,033

21,44020,854

S

1,686

2,066

4,002

7,369

8,097

9,336

YAMAHA

5

2

18

1,607

1,768

2,222

R(EV)

0

3

1,526

1,500

808

2,279

Others

19,616

12,84817,40624,351

25,86026,428

218,712

183,647

191,892

261,156

298,759

302,000

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15

Financial Position
Total Asset

250,000

Capital Investment

Depreciation

Interest-Bearing Debt

50.0%

（Unit：Million Yen）

200,000

40.0%

150,000

30.0%

100,000

20.0%

50,00010.0%

0Total Asset
Capital Investment
Depreciation
Interest-Bearing Debt
Interest-Bearing Debt Ratio

FY2019FY2020

FY2021

FY2022

FY2023134,038
12,238
10,89051,342
38.3%

136,714
10,01010,032
49,56536.3%

160,931
16,651
10,58164,86740.3%

176,137
16,907
13,11273,92542.0%

191,772
8,809
14,55976,064
39.7%

Copyright(c) 2024 F-TECH INC. All Right Reserved

FY2024
Forecast
184,911
9,314
15,32770,502
38.1%

0.0%

16

Status of Dividend
End of Q1

End of Q2

End of Q3

End of the
Term

Total

Payout Ratio

FY Mar. 2023 Actual（Last term）

10yen

10yen

20yen

21.4％

FY Mar. 2024 Plan (Current term）

10yen

10yen

20yen

22.1％

Change

0yen

0yen

0yen

ー

FY Mar. 2025 Forecast（Next term）

-

10yen

-

10yen

20yen

61.9％

Change

-

0yen

-

0yen

0yen

―

Dividend Policy

F.tech's basic policy regarding profit distribution is to return profit based on business performance.
We place importance on returning profits to our shareholders, and will strive to return profits based on along term perspective, including the profit situation and future business development, while strengthening
our financial structure.
Copyright(c) 2024 F-TECH INC. All Right Reserved

17

目次

1 決算概要Financial Summary

2 業績予想Earnings Forecast

3 経営戦略Management Strategy

4 トピックス
Copyright(c) 2024 F-TECH INC. All Right Reserved

Topics18

The 15th Mid-term business plan（hereinafter called "15th mid-plan"）～Overview～GrowthCompany
policyWe contribute to society by improving earning power
and achieveing sustainable groth.

The 16th mid-term business plan
(FY26-FY28)

Targets to achieve :Operating profit ratio 5%

Challenge for New●Strategically pursue growing business opportunities ●Establishment of sustainability management-Expand added value through strategic sales activities-Expand EV commercial rights-Maximize development efficiency-Establish new technology

Earning profit-Strengthen ESG management initiatives-Promote the realization of carbon neutrality-Improve evaluation by stakeholders

Back to Basics

Reducing debt

Investment
for growthPursuing the Essenceof Monozukuri(Manufacturing)●Improving financial structure●Enhancing eaning power-Develop F-tech's integrated support to sites with issues-Increase profit by strengthening competitive advantage-Improve staff engagement-Develop human resources who can take an active role
In the F-tech group-Recovering return on invest of 14 mid-term plan-Control of investment amount-Reinforce of the monitoring system for the profit
situation of each site

Earning power
Copyright(c) 2024 F-TECH INC. All Right Reserved

19
19

"15th mid-plan"：Enhancing erning power ～ Deployment of Technician Support to sites with issues ～Measures to be taken in FY2023

Measures to be taken in FY2023

Output / Target

Stanping

Expert input for various improvements
and guidance

Step up in each area by inputting +20%
experts support over the previous year

＜Improvement Effects

Welding

・Review of personnel allocation

Support stamping area
Press Operator Full-Year Support
Die maintenance support

・35% personnel reduction

・Improvement of welding equipment specifications

Welding area support

America

Painting

・Improvement and retraining of work procedures

Improve line efficiency, Support modification work
Reduce failure costs

・Change of parts layout

Quality
Control
Production
Control・Improvement of supervisors' leadership skills, etc.

Production efficiency Improvement

Reduction of personnel Improvement

Painting area
Reduce scrap costs

・Review of consumables management standards
・Improvement of transport packaging

・15% improvement in production efficiency

Support assembly area
Improve line efficiency and automation
Reduce scrap costs

Dispatched a total of 50 support personnel for a total of 60 days
Integrated
SupportJapan

MexicoCanada＜ Priority Implementation Development in FY2024 ＞

China

・Promoting "efficiency/quality improvement" by providing a trial period without technical support staff.
・Repeating the PDCA cycle of “ Improvement => Instruction => Confirmation of Effectiveness " to establish

Support will continue
in FY2024.

an awareness of improvement.
Copyright(c) 2024 F-TECH INC. All Right Reserved

20

"15th mid-plan"：Enhancing Erning Power
Current Achievement of Sites

Canada・Promoted downsizing of production line
personnel through implementation of various
improvement measures.

＜Result in FY2023＞
Compared to FY2022
Estimated Effects▲29 Persons

Approx. 200 million yen※Exchange rate Canada$ 1= JPY108

Mexico・Invested US$100 million in building expansion,facility enhancement, etc. from FY2022 onward
in line with orders for four models from threeautomakers. Currently in stable mass production.

＜Result in FY2023＞
Sales
JPY37 Billion
Operating profit ratio
8.6％※Exchange rate US$ 1 = JPY145

Positioning of Sites( Enhancing Earning Power )・Demonstrated effectiveness ofvarious improvement measures in
reducing personnel.
・Aiming to share these improvement
measures among group sites.

Effects from FY2024 onward
Sales and operating income remained
stable while the number of employees
was maintained.
※1

Estimated Sales：JPY32 Billion

Operating Sales：+JPY1 Billion
2021-year comparison (before improvements)※1 US$ 1= JPY145, CA$1= JPY110・Growing into a major site for securing
profitability within the group.

Mass production of newly ordered
models stabilized, and both sales andoperating income remained stable.

＜ Number of models at Mexico ＞

Estimated Sales：JPY40 Billion

EV ：3 models

ICE：4 models※2

Increased of 31 billion yen over2021 (before orders)※1※2 ICE：Internal Combustion Engine

Raise the earning power of the entire North American region and secure stable earnings
Copyright(c) 2024 F-TECH INC. All Right Reserved

21

"15th mid-plan"：Enhancing Erning Power ～Pursuing the Essence of Monozukuri (Manufacturing)～

Environmental Changes

In the previous fiscal year, the deficit in the
North America area was covered by the China
area, but in the current fiscal year,
the North America area covered thedecrease in profit in the China area.

・Difficulty in retaining and securing humanresources➡Production efficiency decline, delay inimprovement
・Production reduction due to delay in OEM
mass production start-up➡Sales Decrease・Increase in new start-up losses

Profit Ratio by Region
Japan7%【FY2022】
North
America▲77%

China 136%

Asia pacific 31%

China 6%

Japan 31%

North
America 32%

China【FY2023】

CanadaAsia pacific 34%

America

Changes in Profit Structure

・Decrease in sales due to reduced production
by U.S. OEMs・Honda production volume is stable・Impact of UAW Wage Hike Negotiations

・Significant production cut by Japanese OEMs
・Rise of Chinese OEMs

Counter-measures
・Change of temporary staffing companies andenhancement of training
・Increased support staff from Japan and otherlocations to improve efficiency, labor saving
and quality
・Efforts to improve efficiency, reduce
manpower, internalize production, andenhance quality are progressing steadily.
・Responding to wage increases andcommunicating with employees to secure
human resources
Practice countermeasures based on declining sales
・Personnel adjustment due to production reduction
・In-house production of pressed parts⇒ Increased value-added・Consolidation of service parts

・China's economic slowdown
Improved production efficiency, Significant cost cut

Mainly Mexico※Progress: Comparison of 15 mid-term planand single year results

Strengthening cooperation with Japan and promoting measures to solve issues in the U.S. and China
Copyright(c) 2024 F-TECH INC. All Right Reserved

22

The 15th Mid-term business plan（hereinafter called "15th mid-plan"）～Overview～GrowthCompany
policyWe contribute to society by improving earning power
and achieveing sustainable groth.

The 16th mid-term business plan
(FY26-FY28)

Targets to achieve :Operating profit ratio 5%

Challenge for New●Strategically pursue growing business opportunities ●Establishment of sustainability management-Expand added value through strategic sales activities-Expand EV commercial rights-Maximize development efficiency-Establish new technology

Earning profit-Strengthen ESG management initiatives-Promote the realization of carbon neutrality-Improve evaluation by stakeholders

Back to Basics

Reducing debt

Investment
for growthPursuing the Essenceof Monozukuri(Manufacturing)●Improving financial structure●Enhancing eaning power-Develop F-tech's integrated support to sites with issues-Increase profit by strengthening competitive advantage-Improve staff engagement-Develop human resources who can take an active role
In the F-tech group-Recovering return on invest of 14 mid-term plan-Control of investment amount-Reinforce of the monitoring system for the profit
situation of each site

Earning power
Copyright(c) 2024 F-TECH INC. All Right Reserved

23
23

"15th mid-plan"：Improvement of financial soundness※Exchange rate FY2022：US$1=JPY136

FY2023：US$1=145

Sales

FY2022 Approx. US$100 million investment
Installed new facilities, expanded capacity, and expandedbuildings in response to orders for 4 vehicle models (3 EVs)
from 3 automakers

Sales

Operating profit

JPY 27Billion
JPY 1.6 Billion＋【 Enhancing Earning Power 】

37Billion

JPY

JPY3.2Billion

Improve production efficiency,
Reduce costs and Control personnel expenses

FY2022

FY2023Mexico site Become the F-Tech Group's No. 1 growth base by generating investment effects
Copyright(c) 2024 F-TECH INC. All Right Reserved

24

"15th mid-plan"：Improvement of financial soundness
Cash equivalent ：JPY12,204million

Int. Bearing debt：JPY76,064million ⇒ Net Debt:JPY63,860million

Operaiting profit：JPY3,708million

Depreciation：JPY14,559million

Net Debt / EBITDA Ratio
4.5x

3.5x

3.6
2.8

⇒ EBITDA:JPY18,267million

Initiatives■Cotrol of Invest amount

2.6

Conduct various evaluation of each generalinvestment and new model investment, and limit theamount of investment to within the depreciation costof the entire group.

■Reinforce Profit monitering system
FY2022

FY2023
ActualFY202415th mid-plan

FY2025The head office participates in monthly management
meetings to share the status of earnings, investments,
and cash management.
Actions to resolve issues are promptly implemented.

※ Net Debt / EBITDA Ratio ＝（ Interest-bearing debt less cash equivalents ）÷（ Operating profit＋ Depreciation ）Achieved first-year target for Net Debt / EBITDA ratio. Promoting further improvement of financial soundness.
Copyright(c) 2024 F-TECH INC. All Right Reserved

25

The 15th Mid-term business plan（hereinafter called "15th mid-plan"）～Overview～GrowthCompany
policyWe contribute to society by improving earning power
and achieveing sustainable groth.

The 16th mid-term business plan
(FY26-FY28)

Targets to achieve :Operating profit ratio 5%

Challenge for New●Strategically pursue growing business opportunities ●Establishment of sustainability management-Expand added value through strategic sales activities-Expand EV commercial rights-Maximize development efficiency-Establish new technology

Earning profit-Strengthen ESG management initiatives-Promote the realization of carbon neutrality-Improve evaluation by stakeholders

Back to Basics

Reducing debt

Investment
for growthPursuing the Essenceof Monozukuri(Manufacturing)●Improving financial structure●Enhancing eaning power-Develop F-tech's integrated support to sites with issues-Increase profit by strengthening competitive advantage-Improve staff engagement-Develop human resources who can take an active role
In the F-tech group-Recovering return on invest of 14 mid-term plan-Control of investment amount-Reinforce of the monitoring system for the profit
situation of each site

Earning power
Copyright(c) 2024 F-TECH INC. All Right Reserved

26
26

15th Mid-term Business Plan：Pursuit of strategic growth business opportunities
Establishment of a new sales office, F-TECH NORTH AMERICA, contributed to the orders for 14 models from 6 companies.

In 2024, we will continue to win orders from existing manufacturers, EV manufacturers, and others through various
promotion activities.
＜Car models that went into production in FY2023 (Only a part is shown)＞

LEXUS LBX
Annual plan 10,000 unitsJapan

SUZUKI SWIFT
Annual plan 120,000 units
U.S. EV makers
Annual plan 120,000 units

North
America

GM BEVs
Chevrolet Blazer EV
Chevrolet Equinox EV
Annual plan 130,000 units
Copyright(c) 2024 F-TECH INC. All Right Reserved

27

The 15th Mid-term business plan（hereinafter called "15th mid-plan"）～Overview～GrowthCompany
policyWe contribute to society by improving earning power
and achieveing sustainable groth.

The 16th mid-term business plan
(FY26-FY28)

Targets to achieve :Operating profit ratio 5%

Challenge for New●Strategically pursue growing business opportunities ●Establishment of sustainability management-Expand added value through strategic sales activities-Expand EV commercial rights-Maximize development efficiency-Establish new technology

Earning profit-Strengthen ESG management initiatives-Promote the realization of carbon neutrality-Improve evaluation by stakeholders

Back to Basics

Reducing debt

Investment
for growthPursuing the Essenceof Monozukuri(Manufacturing)●Improving financial structure●Enhancing eaning power-Develop F-tech's integrated support to sites with issues-Increase profit by strengthening competitive advantage-Improve staff engagement-Develop human resources who can take an active role
In the F-tech group-Recovering return on invest of 14 mid-term plan-Control of investment amount-Reinforce of the monitoring system for the profit
situation of each site

Earning power
Copyright(c) 2024 F-TECH INC. All Right Reserved

28
28

15th Mid-term Business Plan：Sustainability Roadmap
・We established the Carbon Neutral Strategy Committee and Promotion Team in December 2022, and the Sustainability
Promotion Department and Sustainability Committee in April 2023.
・ We established Basic Sustainability Policy and Road map in December 2023.

Basic Policy

Based on our mission statement, corporate philosophy, and action guidelines, we will strive sincerely tosolve global issues and enhance our corporate value through our business activities in the aim of realizing asociety with sustainable mobility.

Roadmap

From basic policy development to materiality and value creation, we aim to realize a society with sustainable mobility.
Copyright(c) 2024 F-TECH INC. All Right Reserved

29

15th Mid-term Business Plan：Materiality & KPI
No.

Materiality

Category

Our Aims

The Company's Main Initiatives

KPI（2030）

Relation to the SDGs

・Design and develop items, such as EV ・Achieve Scope 1
Response to carbon
products, that meet customer needs And 2 carbon neutrality in1
Establish a low-carbon
neutrality
manufactureing area by 2035
・Reduce environmentally hazardous
Environment and highly efficient
substances
・Achieve carbon neutrality（E） production system and ・Evaluate products using LCA
Development ofdevelop environmentally ・Implement third-party verification
throughout the supply chain by
2 environmentally friendly
friendly products
・Expand the use of renewable energy 2050
products
3

Respect for humanrightsFurther strengthen ourbusiness foundation,
ensure a comfortable
Safe and hygienic
4
Societyworking environment forworking environment（S） our employees, andproide a secure and safe
Provision of high-quality
５
future for all
products

・Foster a corporate culture that
・Human rights training– 100% employee participation
respects diversity
・Strengthen and enhance employee
engagement
・No lost time injuries
・Continue to comply with occupational - 0 cases
safety laws and regulations
・Augment customer satisfaction
・Seruiys quality defects- 0 cases

６

Compliance・Expand compliance training
・Enhance CSR verification sheets
・Expand supply chain management

Expand the corporate
Governance infrastructure to enhance（G)

７

Fair trade

・Compliance training- 100% employee participation
・Violation of laws and regulations- 0 cases

corporate value over the
medium to long term・Supplier CSR verification sheet- 100% deployment※Review materiality on a regular basis to meet changing circumstances.

Identified key issues in each ESG area and launched initiatives to achieve KPIs for each item.
Copyright(c) 2024 F-TECH INC. All Right Reserved

30

目次

1 決算概要Financial Summary

2 業績予想Earnings Forecast

3 経営戦略Management Strategy

4 トピックス
Copyright(c) 2024 F-TECH INC. All Right Reserved

Topics31

Measures for Supporting Sustainable Growth◆SAITAMA Environmental Fair & Children's Eco Festival◆Food Drive Activity
Since 2021, we have been
holding a food drive tie-up
with Saitama Resona Bank.
On November 22, 2023, we helda joint presentation ceremony tochildren's support organizations.
We donated 805 items provided
by employees to the children's
cafeterias in Kuki City.

◆Clean-up Activities
On November 11th and 12th, 2023, we exhibited a booth at the"SAITAMA Environmental Fair & Children's Eco Festival"
sponsored by Saitama Prefecture and Aeon Mall Ageo.
Inside the booth, we introduced our environmental
conservation efforts and held craft classes for children,with a total of 150 people over the two-day period.

The company aims tocontribute to local
communities and raise
employees' awareness of
CSR. We conduct a variety
of clean-up activities every
year at our global
locations and in Japan.

We will continue to carry out the activities in order to contribute to the local community.
Copyright(c) 2024 F-TECH INC. All Right Reserved

32

High recognition acquired from customers（FY 2023）
QualityJul. 2023

NISSAN

Nissan Global Supplier Award / Global Quality Award

Production
Engineering

Apl. 2023

Ministry of Education

Quality ,DeliveryAwarded by Ministry of Education, Culture, Sport, Scienceand Technology - Prize for creativity “Improvement of R/L
contamination prevention device for 1000t. Presses”

Apl. 2023

HONDA MOTOR

Service Parts Award / Delivery & Quality Award

QualityJun. 2023

General Motors

Supplier Quality Excellence Award 2022

FTW（China）

Quality ,DeliveryJan. 2024

Dongfeng Honda Automobile

20th Anniversary Special Award Excellent SupplierAward

FTZ（China）

DeliveryJan. 2024

Guangqi Honda Automobile

Excellent Supplier Award

QualityJul. 2023

NISSAN Motors

Nissan Supplier Meeting Quality Finalist

QualityDec. 2023

TOYOTA DAIHATSUENGINEERING &MANUFACTURING

Outstanding Performance Supplier in Quality Performance

Mar. 2024

TOYOTA AISIN PHILIPPINESPLAQUE OF APPRECIATIONDENSO Haryana

Overall Performance Award

DENSO JAPAN

Excellent Performance Award

Shiroki Automotive India

Best Supplier QCD Award

GlobalJapan

Kameyama
Plant

North America

F&P (Canada）
FPA（America）
FPMX（Mexico）

Asia

FMTL
（Thailand）

FPMI（Philippine） Appreciation
Quality
ISS（India）

Parformance
QualityJun. 2023
May 2023

Copyright(c) 2024 F-TECH INC. All Right Reserved

33

ご清聴ありがとうございました
Thank you for your attention!

本資料で記述している将来予測及び業績予想は、現時点で入手可能な情報に基づき当社が判断した予想であり、潜在的なリスクや不確実性が含まれています。
そのため、様々な要因の変化により実際の業績と記述としている将来見通しは 、大きく異なる
可能性があることを御承知おき下さい。
The future outlook and earnings forecasts in this document are made based on the information
available at the moment, and they include potential risks and uncertainties.
As a result, please bear in mind that actual business performance may substantially differ fromthe stated future forecasts due to changes in various factors.

IR情報のお問い合わせ、取材お申し込みは「エフテック」で検索
Search by "F-Tech"https://www.ftech.co.jp

For inquiries on IR information, please contact:

株式会社エフテック 管理本部 総務部/経理部
F-TECH INC. Management Planning Division General Affairs Department / Finance and Accounting Department

代表TEL

0480-85-5211

Mail

Copyright(c) 2024 F-TECH INC. All Right Reserved

webmaster@ftech.co.jp

34

Copyright(c) 2024 F-TECH INC. All Right Reserved

35

Appendix～ Consolidated Balance Sheet（FY Mar. 2024 Results）～（ Unit： Million Yen ）FY Mar.2024 ActualCash and Deposits

Notes and AR
Inventories
OthersCurrent Assets(Property,plant and equipment)
Intangible assets
Investment and others

Non-current Assets
Total Assets

FY Mar.2025 Forecast

Changes

FY Mar.2024 Actual

12,2047,000▲ 5,204

41,59643,151

1,555

25,48528,287

2,802

3,783

3,783

0

83,06982,221▲ 848

94,03388,019▲ 6,014

319

319

0

14,35014,3500108,702102,689▲ 6,013

191,772

184,911▲ 6,861

NETDEBT

63,86063,502▲ 357

EBITDA

18,26720,027

1,760

3.50

3.17

▲ 0.33NETDEBT/EBITDAFY Mar.2025 Forecast

Changes

27,902

28,190288

38,53736,660▲ 1,877

12,782

8,576▲ 4,206

12,83012,577▲ 253

92,05386,004▲ 6,049

22,043

23,660

1,617

5,932

5,090

▲ 842

27,97528,750775

120,029

114,755▲ 5,274

Total Shareholders' Equity

42,404

42,630226

Accumulated Other
Comprehensive Income

13,421

12,591▲ 830

Non-controlling Interests

15,916

14,934▲ 982

71,74370,156▲ 1,586

191,772

184,911▲ 6,860

Notes and AP
short-term loans
Current portion of Long-term
loan
OthersCurrent Liabilities

Long-term loan
OthersNon-current Liabilities
Total Liabilities

Total Net Assets
Total Liabilities and Net Assets

Copyright(c) 2024 F-TECH INC. All Right Reserved

36Appendix ～ Consolidated Cash Flow Statement (FY Mar. 2024 Results ) ～（ Unit ：Million Yen ）FY Mar.2024 Actual FY Mar.2025 Forecast

Change20,000
営業活動キャッシュフロー
Cash flow fm operating activities

19,466

10,485▲ 8,981

OperatingＣＦ
InvestmentＣF
FreeＣＦ

25,00019,46615,00010,564
投資活動キャッシュフロー
Cash flow fm investment activities▲ 8,902▲ 9,313▲ 411

10,000

財務活動キャッシュフロー
Cash flow fm financial activities▲ 4,263▲ 6,513▲ 2,2505,000

現金及び現金同等物に係わる為替差額
FX adjustments associated with Cash and cash
equuivalent

10,485

1,172
413

136

▲ 277

0

現金及び現金同等物の増減額
Net change of cash &cash equivalent

6,712▲ 5,204

現金及び現金同等物の期首残高
Beginning balance of cash&cash equivalent

5,491

12,204

6,713 ▲ 10,000

現金及び現金同等物の期末残高
Ending balance of cash&cash equivalen

12,2047,000▲ 5,204 ▲ 15,000▲ 11,916

FY Mar.2024 Actual

FY Mar.2025 Forecast▲ 8,902▲ 9,313▲ 5,000

Copyright(c) 2024 F-TECH INC. All Right Reserved37

Appendix-Corporate Overview

Company Name

F-TECH INC.

Market Segment

Standard Market (7212)

Capital6.79 Billion Yen

President and CEO

Yuichi Fukuda

Consolidated Sales

298.7 Billion Yen (year ending Mar 2024)

Number of Employees/ Consolidated

9,800（Non-consolidated: 939人＊）

Established

July 1, 1947

Address

19, Showanuma, Shobucho, Kuki, Saitama 346-0194, JAPANMain Customers

Honda, General Motors, Nissan, Toyota, etc.

Main Products

Underbody parts for automobile - suspension arm, sub-frame, axle beam,
pedal control, etc.

*Non-consolidated: Domestic companies only. (Excluding subsidiaries and overseas employees)

As of March 31, 2024
Copyright(c) 2024 F-TECH INC. All Right Reserved

38

Appendix
Establishment-F-tech’s History

4 wheel businessBusiness expansion

Global expansion（1947‐1964） （1965‐1987）（1988‐1999）（2000‐ current）

1986
2014

1999
1964

F&P Mfg (Canada)
operation begins

Renamed to Fukuda
Press Kogyo

1978

2012 F&P MFG.DE MEXICO established

1967

2008

Fukuda Seisakusho
Established andmetal toy
1965
production begins

Ftech R&D Philippines established

Ftech Philippine operation begins

1993

1947
Kameyama plant mass
production begins

1988

2023

F&P America operation begins

1991
Mitsubishi business starts

Renamed to F-tech2022

Acquire shares of India Steel
Summit and consolidate as a
subsidiary.
2006
Transition to New “Prime Market”
F-TECH MFG（THAILAND) operation begins
Listed on the first section of the Tokyo Stock Exchange of the Tokyo Stock Exchange

2004 F-tech WUHAN Inc. operation begins

4 wheel parts
production begins

F-TECH NORTH AMERICA
INC. establishedF.tech R&D (Guangzhou) INC established

HQs transferred to Kuki
Motorcycle parts
production begins

YANTAI FUYAN MOULD CO., LTD established

2011

1994

2023

Transition to Standard
Market of the Tokyo Stock
Exchange

PT.F.TECH INDNESIA established
Michigan/R&D NA Office established

Listed on over-the-counter market
Nissan Shatai business starts

Honda business starts

2013

1996
1995

1959

R&D NA Europe Branch established1997 Daihatsu business starts
Dyna-Mig operation begins

2003 R&D North America established

2021

TOYOTA MOTORCORPORATION business starts

2020
2002 F-tech Zhongshan Inc operation begins. Joint investment in VEE GEE
Auto Components Pvt Ltd.
2001 TOYOTA North America
business starts Suzuki business starts
Listed on the second section of theTokyo Stock Exchange
2000 Nissan Motors business starts
F&P Georgia Mfg.,Inc established

Copyright(c) 2024 F-TECH INC. All Right Reserved

2018
F-TECH AUTOMOTIVECOMPONENTS PRIVATE LIMITED
established39

Appendix-Our Vehicle Components

Suspension Parts

Control parts
RR

FR

Module Assy

MountedComponents

Our products are critical safety auto parts which perform fundamental functions,“Drive”, “Turn” and “Stop”. We aim at the optimal specifications considering thehigher operation stability, riding comfort, and safety at the time of the collision.
Copyright(c) 2024 F-TECH INC. All Right Reserved

40Appendix -Our Business Outline（Chassis Parts Development and Production）
Product
Development

Forming

Welding

Painting

Assembly

All processes, from product planning and development to mass-production, are carriedout through F-TECH’s proprietary integrated processing system, which enables F-TECH
to supply products that own competitiveness, even in short time frame.
Copyright(c) 2024 F-TECH INC. All Right Reserved

41

Appendix ～ F-TECH Group Companies in Japan【Facilities】
Head Office・Kuki Plant
Kameyama Plant
Haga Technical Center
Equipment Center【Group Companies】
Fukuda Engineering
Kyushu F.tech Inc.
Reterra Inc.
JohnanManufacturing Inc.

Johnan Kyushu
Manufacturing Inc.

【Affiliated Companies】
Johnan Manufacturing Inc.
Johnan Kyushu Manufacturing Inc.

Reterra Inc.
(Chichibu)

Haga Technical Center

Kyushu F.tech Inc.

Equipment Center (Kazo)
Head Office・Kuki Plant

Kameyama
Plant
Copyright(c) 2024 F-TECH INC. All Right Reserved

Fukuda Engineering Co., Ltd(Kazo)

42

Appendix ～ F-TECH Group Overseas Subsidiaries（As of April 1, 2024)
Dyna-Mig, A division of
YANTAI FUYAN MOULD
F&P Mfg.,Inc.
CO.,LTDF-Tech WUHAN Inc.

F&P AMERICA MFG.,INC.

F-Tech Zhongshan Inc.

F&P Georgia, A division of
F&P America Mfg.,Inc.

F-TECH AUTOMOTIVECOMPONENTS Pvt. Ltd.
India Steel Summit
Private Limited
F-TECH MFG.
(THAILAND)LTD.

F.techR&D(Guangzhou)Inc.
F.TECH PHILIPPINES, MFG.,INC.
F.tech R&D Philippines Inc.
PT.F.TECHINDONESIAF&P MFG.,INC.
Michigan/R&D NA Office
F-TECH NORTHAMERICA INC.
F.TECH R&D
NORTH AMERICA INC.

F&P MFG DE MEXICO,S.A. DE CV.
F.E.G. DE QUERETARO
S.A. DE C.V.

Production plants

R&D, Sales facilities

North America (6)China (2)Asia (4)North America (3)China(2)Asia (2)F-TECH has 12 production plants and 7 R&D, Sales facilities in 8 countries.
Copyright(c) 2024 F-TECH INC. All Right Reserved

43Appendix -Affiliates and Alliances（ As of April 1, 2024 )Johnan Wuhan Inc.

Shanghai Huizhong
JV OZAUTO-AUSTEM L.L.C.

POS-AUSTEM Yantai
Automotive Co. Ltd.

JOHNAN AMERICA INC.

SMC Co.,Ltd.
PROGRESSIVE TOOLS &COMPONENTS(P) Ltd.
VEE GEE Auto Components
Private Limited.
VEEGEE Industrial
Enterprises PVT. LTD
ERECT ENGINEERINGPRESSWORKS SDN.BHD.
DELLOYD Industries(M) Sdn Bhd

CHEN IEU INDUSTRY CO., LTD.
POS-AUSTEM Wuhan
Automotive Co. Ltd.
JOHNAN F.TECH(THAILAND)LTD.
PT.JFD INDONESIA

JOHNAN DE MEXICO,
S.A.DE C.V.

COSMA DO BRAZIL

Affiliates

Alliances

North America (2)Asia (4)China (1)South America (2)Asia (6)China (3)GESTAMP BRAZIL

We have established optimal business partnerships in 6 countries and 1 region in order tosupply our products globally.
Copyright(c) 2024 F-TECH INC. All Right Reserved

44