May 9, 2024

Summary of Consolidated Financial Results
for the Year Ended March 2024 [Japan GAAP]
Name of Company:
Stock Code:
Stock Exchange Listing:
Representative

KAGA ELECTRONICS CO., LTD.
8154
URL: https://www.taxan.co.jp/
Tokyo Stock Exchange, Prime Market
Title: Representative Director, President & COO
Name: Ryoichi Kado
Title: Executive Officer
Contact Person
Name: Yasuhiro Ishihara
Head of Administration Headquarters
Phone:+81-(0)3-5657-0111
Date of regular general meeting of shareholders: June 26, 2024 (tentative)
Date of commencement of dividend payment:
June 27, 2024 (tentative)
Date of filing of securities report:
June 26, 2024 (tentative)
Supplementary explanatory documents:
Yes
Earnings presentation:
Yes (For institutional investors and analysts)(Yen in millions, rounded down)

1. Financial results for the current fiscal year (April 1, 2023 - March 31, 2024)(1) Result of operations (Consolidated)(Percentage figures represent year on year changes)

Net sales

Fiscal year ended March 2024
Fiscal year ended March 2023

Million yen

Operating income%

542,697
608,064

Million yen(10.8)
22.6

Ordinary income%

25,84532,249Million yen(19.9)
54.2

%

Yen

Fiscal year ended March 2024
Fiscal year ended March 2023

Earnings per
share(diluted)

Return on
equityYen

774.61
878.65

Million yen

25,976 (20.7)
32,73952.6

Note: Comprehensive income: FY ended March 31, 2024: 27,213 million yen [(4.4)%]
28,472 million yen [37.2%]

Earnings per
share

Profit attributableto owners ofparent%－－%20,345 (11.8)
23,070 49.8

FY ended March 31, 2023:

Ratio ofRatio of operating
ordinary income income to net
to assets
sales
%

14.5
19.6

%

9.1
11.7

4.8
5.3

Ref.: Share of profit/loss of entities accounted for using equity method: FY ended March 2024: (80) million yen FY ended
March 2023: 97 million yen(2) Financial Position (Consolidated)
Total assets

Net assets

Million yen

As of March 31, 2024
As of March 31, 2023

Equity ratio

Million yen

286,792
286,217

151,231
129,737

Ref.: Shareholdersʼ equity︓FY ended March 2024: 150,834 million yen(3) Cash flow position (Consolidated)

Net assets per share
%

Yen

52.6
45.3

5,742.22
4,935.36

FY ended March 2023: 129,608 million yen

Net cash providedby (used in)operating activities

Net cash providedby (used in)investing activities

Net cash providedby (used in)financing activities

Cash and cash
equivalents at endof period

29,38530,569(2,968)(4,805)(16,973)(15,549)

62,41750,307

Million yen

Fiscal year ended March 2024
Fiscal year ended March 2023

Million yen

Million yen

Million yen

2. Dividends
Dividend per share

1Q

2Q

Yen

Fiscal year ended March 2023
Fiscal year ended March 2024
Fiscal year ending March 2025
(Forecast)

Yen－ 100.00－ 110.00－ 110.00

3Q

Year- end

Yen

Yen

AnnualPayout ratio Dividends/
aggregate (Consolidated)
net assets
amount(Consolidated)

Full
year

Yen

Million yen－ 120.00 220.00－ 110.00 220.00

5,777
5,779

－ 110.00 220.00

%

%

25.0
28.4

4.9
4.1

32.1

Notes: Breakdown of interim dividend for FY3/2023: Ordinary dividend: 70.00 yen; Extraordinary dividend: 30.00 yen
Breakdown of year-end dividend for FY3/2023: Ordinary dividend: 70.00 yen; 55th anniversary commemorative
dividend: 10.00 yen; Extraordinary dividend: 40.00 yen

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

Million yen

555,000

Operating income%

2.3

Million yen

26,000%0.6

Ordinary income
Million yen

26,000%0.1

Profit attributable Earnings per
to owners of parent
shareMillion yen%

18,000 (11.5)

Yen

685.26

* Notes(1) Changes in significant subsidiaries (Changes in specified subsidiaries accompanied by changes in thescope of consolidation): None
(2) Changes in accounting policies, estimates, and retrospective restatement(a) Changes due to revision of accounting standards: None(b) Changes other than (a): None(c) Changes in accounting estimates: None(d) Retrospective restatement: None
(3) Number of shares outstanding (common stock)(a) Shares outstanding
As of March 31, 2024:(including treasury shares)

28,702,118 As of March 31, 2023:

28,702,118(b) Treasury shares

As of March 31, 2024:

2,434,544 As of March 31, 2023:

2,440,983(c) Average number of shares
outstanding during the year

As of March 31, 2024:

26,265,780 As of March 31, 2023

26,257,182(Reference) Non-consolidated Financial Results
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
Million yen

Operating income

Ordinary income

Profit%Million yen%

Million yen%

Million yen%

Fiscal year ended March 2024

116,889 (15.0)

5,991

(0.3)

16,54644.3

15,463

22.7

Fiscal year ended March 2023

137,522

6,007

62.7

11,46621.3

12,604

74.9

33.4

Earnings per share
Yen

Earnings per share(diluted)

Yen

Fiscal year ended March 2024

588.68－

Fiscal year ended March 2023

479.99－(2) Financial Position (Non-consolidated)
Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen%

Yen

As of March 31, 2024

126,697

60,30047.6

2,295.42

As of March 31, 2023

127,208

50,43139.6

1,920.21

Ref.: Shareholdersʼ equity Fiscal year ended March 2024: 60,300 million yen
million yen

Fiscal year ended March 2023: 50,431*The audit procedures by certified public accountant or auditing firm are not applicable to this Financial
Results report.
*Cautionary statement regarding forecasts of operating results and special notes(Caution regarding forward-looking statements)
Forward-looking statements in these materials are based on information available to management at
the time this report was prepared and assumptions that management believes are reasonable. Actual
results may differ significantly from these statements for a number of reasons. For information about theforecasts, please see “1. Results of Operations (4) Future outlook” on page 6 of Supplementary Information.
(Supplementary materials for financial results and how to obtain details of the financial results meeting)
We plan to hold an earnings briefing for institutional investors and analysts on Thursday, May 23, 2024.
Supplementary materials for the earnings briefing will be posted on TDnet and our website today(Thursday, May 9th). We plan to post a video of the earnings briefing, together with the briefing materials
used on that day, on our website on May 23th.
（Japanese）https://www.taxan.co.jp/jp/ir/event/event_01.html（English） https://www.taxan.co.jp/en/ir/event/event_01.html

Index for Supplementary Information
1. Results of Operations ................................................................................................................. 2(1) Overview of consolidated business performance ..................................................................... 2(2) Overview of financial condition.............................................................................................. 5(3) Cash flows ......................................................................................................................... 5(4) Future outlook .................................................................................................................... 6(5) Basic policy for earnings allocations and dividends in the current and next fiscal years ................ 6
2. Basic Approach to the Selection of Accounting Standards .............................................................. 6
3. Consolidated Financial Statements and Major Notes ....................................................................... 7(1) Consolidated balance sheet .................................................................................................. 7(2) Consolidated statements of income and comprehensive income ................................................ 9(3) Consolidated statement of changes in equity ........................................................................ 11(4) Consolidated statement of cash flows .................................................................................. 13(5) Notes to consolidated financial statements ........................................................................... 15(Notes to going concern assumptions) .................................................................................. 15(Segment information, etc.) ................................................................................................. 15(Per-share information) ..................................................................................................... 17(Subsequent events) ......................................................................................................... 17-1-

1. Results of Operations(1) Overview of consolidated business performance
Looking at the global economy during the consolidated fiscal year under review, the outlook remained
uncertain due to the impact of monetary tightening in the U.S. and Europe, economic stagnation in China,
heightening geopolitical risks notably in Ukraine and the Middle East, and other factors. Meanwhile, inJapan, amid price increases and ongoing depreciation of the yen, the economy continued to follow a
gradual recovery trend, supported largely by a rebound in personal consumption and an increase in
inbound tourist demand.
In the electronics industry to which the Group belongs, the automotive market continued to enjoy
demand growth along with easing of supply shortages of semiconductors and electronic components, on
the back of vehicle electrification and other trends, but demand in the industrial equipment and othermarkets remained in an adjustment phase.
Under such circumstances, during the consolidated fiscal year under review, the electronic components
business was affected by such factors as disappearance of spot demand given easing of supply shortagesof semiconductors and electronic components, diminution of transactions with a certain client of an
overseas subsidiary of Excel Co., Ltd., and inventory adjustment taking place on a full-scale from the third
quarter of the consolidated fiscal year under review. As a result, net sales decreased by 10.8% year on
year to 542,697 million yen.
Operating income decreased by 19.9% year on year to 25,845 million yen, with efforts made to reduce
selling, general and administrative expenses in the face of a decline in gross profit due to lower net sales,
while ordinary income decreased by 20.7% year on year to 25,976 million yen.
Profit attributable to owners of parent decreased by 11.8% year on year to 20,345 million yen, reflecting
in part posting of extraordinary income that included 1,420 million yen in gain on sale of investment
securities and 481 million yen in gain on bargain purchase associated with a corporate acquisition.
FY 2023/3

FY 2024/3

YoY(April 1, 2022 –March 31, 2023)(April 1, 2023 –March 31, 2024)（Million yen）

（Million yen）

542,697(65,367)(10.8%)

Gross profit（Margin）

78,51412.9％

70,45213.0％(8,062)0.1pt(10.3%)－

SG&A

46,26544,607(1,657)(3.6%)

Operating income

32,24925,845(6,404)(19.9%)

Ordinary income

32,73925,976(6,763)(20.7%)

Profit before income taxes

32,46028,099(4,360)(13.4%)

Profit attributable to owners ofparent23,07020,345(2,725)(11.8%)EPS (yen)

878.65774.61(104.04)

－

ROE

19.6%

14.5%

(5.1pt)－135.47144.629.15－

Net sales

608,064

Exchange Rate

(Average rate during the year)

USD

(yen)

-2-

（Million yen）

Business segment performance was as follows.
(a) Electronic components (Development, manufacture and sale of semiconductors, general electronic
components and other products, the electronics manufacturing service (EMS*), and other activities)
In this business, the components sales business enjoyed robust sales of SoC*2 products by Kaga FEI
Co., Ltd., but sales of semiconductors and electronic components in general were sluggish, affected bydisappearance of spot demand given easing of supply shortages of semiconductors and electronic
components that had continued for two consecutive years until the previous fiscal year, diminution oftransactions with a certain client of an overseas subsidiary of Excel Co., Ltd., and inventory adjustment
taking place on a full-scale from the third quarter.
In the EMS business, sales in the automotive sector increased due to improved supply and demandbalance of semiconductors and electronic components, whereas sales in applications related to medical
and industrial equipment decreased due partly to investment adjustment at key customers.
As a result, net sales decreased 12.4% year on year to 472,583 million yen and segment income
decreased 26.2% year on year to 20,887 million yen.
Note: 1. Electronics Manufacturing Service: Provision of product development and manufacturing services on an outsourcing basis.

2. Abbreviation for System on a Chip. A design technique of integrating all the functions necessary for operation of a device orsystem on a single semiconductor chip.

(b) Information equipment (Sales of PCs, PC peripherals, home electric appliances, photograph andimaging products, original brand products, and other products)
In this business, net sales remained robust with continued strong sales of PCs for educational
institutions and security software, although sales of PCs for mass retailers struggled due to weak
demand. In the LED installation business, sales of a large-scale project that the Group started pushing
forward on a full scale in the previous fiscal year contributed.
As a result, net sales increased 1.4% year on year to 44,305 million yen and segment income
increased 19.4% year on year to 2,924 million yen.
(c) Software (Production of computer graphics, planning and development of amusement products, andother activities)
In this business, orders for computer graphics production remained generally steady. Net sales
decreased by 14.4% year on year to 2,567 million yen while segment income increased by 29.0% year
on year to 370 million yen, attributable partly to the effect of containing cost of sales through operational
efficiency improvement and other efforts.
(d) Others (Repair and supports for electronics equipment, manufacture and sales of amusement
equipment, and sales of sports goods, and other activities)
In this business, the PC and PC peripheral recycling business remained strong, and so did sales ofamusement equipment and sporting goods. Net sales increased by 5.4% year on year to 23,241 million
yen, and segment income increased by 41.2% year on year to 1,555 million yen.

< Financial Results by Business Segment >Electronic
components

Net sales
Segment income

Informationequipment

Net sales
Segment income

FY 2023/3

FY 2024/3(April 1, 2022 –March 31, 2023)(April 1, 2023 –March 31, 2024)（Million yen）

（Million yen）

539,342
28,314

472,583
20,887

YoY（Million yen）

(66,759)(7,427)(12.4%)(26.2%)
1.4%
19.4%

44,305625
43,680
2,924
474
2,449
Software
Net sales
2,567
(430)
(14.4%)
2,998
Segment income
370
83
29.0%
286
Others
Net sales
23,241
1,196
5.4%
22,044
Segment income
1,555
453
41.2%
1,101
Total
Net sales
542,697(65,367)(10.8%)
608,064
Segment income
25,845(6,404)(19.9%)
32,249Note: “Segment income” shows unadjusted figures for each business segment and adjusted figures for the total.

-3-

<Reference>Financial results①

Financial highlights(3months)
FY 2023/3 4Q(3months)

YoY(January 1, 2023 –March 31, 2023)(January 1, 2024 –March 31, 2024)（Million yen）

（Million yen）

（Million yen）

Net sales

155,843

136,239(19,604)(12.6％)

Gross profit

18,63018,200

(430)

12.0％

13.4％

1.4pt

(2.3％)（Margin）
SG&A

12,387

12,846459

3.7％

Operating income

6,242

5,353

(889)

(14.2％)

Ordinary income

6,121

5,664

(456)

(7.5％)

Profit before income taxes

5,325

5,713

388

7.3％

4,017

4,353

335

8.4％

FY 2023/3 4Q(3months)

FY 2024/3 4Q(3months)

Profit attributable to owners ofparent②

FY 2023/4 4Q(3months)－

By segment

Electronic
Components

Net sales
Segment income

YoY(January 1, 2023 –March 31, 2023)(January 1, 2024 –March 31, 2024)（Million yen）

（Million yen）

（Million yen）

133,733

114,788(18,944)(14.2％)

4,972

3,738

(1,233)(24.8％)

14,54014,038(501)(3.4％)

1,002

52

5.6％

Information

Net sales

Equipment

Segment income

949

Software

Net sales

922

750

(171)

(18.6％)

151

107

(44)

(29.1％)

6,647

6,660

12

0.2％

129

495

366

281.9％

155,843

136,239(19,604)(12.6％)

6,242

5,353

(889)

(14.2％)

Segment income
Others

Net sales
Segment income

Total

Net sales
Segment income

Note: “Segment income” shows unadjusted figures for each business segment and adjusted figures forthe total.

-4-(2) Overview of financial condition
Assets, liabilities and net assets
Total assets as of March 31, 2024 increased by 574 million yen from the previous fiscal year-end to286,792 million yen.
Current assets decreased by 943 million yen compared to the end of the previous fiscal year, to244,629 million yen.
Non-current assets increased by 1,517 million yen compared to the end of the previous fiscal year, to42,162 million yen. This was primarily due to a 2,784 million yen increase in construction in progress.
Liabilities decreased by 20,919 million yen compared to the end of the previous fiscal year, to135,560 million yen. This was primarily due to a 7,840 million yen decrease in Notes and accounts
payable - trade and a 8,980 million yen decrease in Short-term loans payable.
Net assets increased by 21,493 million yen from March 31, 2023, to 151,231 million yen. This wasprimarily due to a 1,434 million yen increase in retained earnings and a 6,235 million yen increase inforeign currency translation adjustment due to 20,345 million yen in profit attributable to owners ofparent.
(3) Cash flows
Cash and cash equivalents as of March 31, 2024 increase 12,110 million yen from March 31, 2023 to
62,417 million yen.
(Operating activities)
Net cash provided by operating activities was 29,385 million yen (30,569 million yen provided by theprevious fiscal year) mainly due to the posting of profit before income taxes.
(Investing activities)
Net cash used in investing activities was 2,968 million yen (4,805 million yen used in the previous
fiscal year) mainly due to purchase of property, plant and equipment, and sale of investment securities.
(Financing activities)
Net cash used in financing activities was 16,973 million yen (15,549 million yen used in the previous
fiscal year) mainly due to repayments of loans payable and payment of cash dividends.

-5-

(4) Future outlook
In the fiscal year ending in March 2025, the Japanese and overseas economic conditions surrounding
the Group are likely to remain unpredictable, in view of such factors as the prolonged geopolitical risks
notably in Ukraine and the Middle East, and the impact of countriesʼ monetary policy and associatedexchange rate fluctuations, although a moderate economic recovery is expected to continue.
In the electronics industry to which the Group belongs, the market scale is expected to expand overthe medium to long term along with rapid technological innovation (widespread use of generative AI andother technologies, progress in electrification of automobiles, etc.). However, customersʼ inventory
adjustment, which has been conducted on a full-scale since the latter half of the fiscal year ended March
2024, is likely to continue for some time to come, suggesting that a full-fledged demand recovery will befrom the latter half of the fiscal year ending in March 2025.
As a result of these factors, we expect net sales to total 555 billion yen, operating and ordinary income
to amount to 26 billion yen, and profit attributable to owners of parent to be 18 billion yen in the fiscal
year ending in March 2025.
The fiscal year ending in March 2025 being the final year of the Medium-Term Management Plan 2024,
we will work on reinforcing profitability by focusing on markets in which high growth and profitability are
expected, in line with the basic policies of the Plan. While pursuing further efficiency and soundness, wewill strive to strengthen the Groupʼs management foundation. We will also continue to pursue SDGs
management, aiming for a balance between solutions to social issues and sustainable growth as acompany.
(5) Basic policy for earnings allocations and dividends in the current and next fiscal years
The Company views the return of profits to shareholders as one of its most important management
policies, and in addition to endeavoring to strengthen its financial position and management foundationfrom a long-term perspective, it has the basic policy of maintaining stable and ongoing dividends to allshareholders with due consideration to consolidated earnings.
For the fiscal year ended March 31, 2024, the Company plans to pay 110 yen per share as a year-end
dividend, as announced on May 11, 2023. As a result, combined with the interim dividend of 110 yen
paid in November 2023, the annual dividend will be 220 yen per share.
For the fiscal year ending March 31, 2025, a dividend of 220 yen per share (110 yen for both theinterim and year-end dividend) is planned.

2. Basic Approach to the Selection of Accounting Standards

The KAGA ELECTRONICS Group prepares consolidated financial statements based on Japanese

accounting standards. Going forward, we will consider adopting IFRS standards with due consideration tofinancial market trends, share of foreign investors, and the organizational costs resulting from the adoptionof IFRS standards.

-6-

3. Consolidated Financial Statements and Major Notes(1) Consolidated balance sheet(Million yen)
FY 2023/3(As of March 31, 2023)

FY 2024/3(As of March 31, 2024)

Cash and deposits

52,60066,596

Notes receivable – trade
Electronically recorded monetary claims operating
Accounts receivable – trade

1,534

900

9,683

10,146

117,881

101,528

195

171

Merchandise and finished goods

41,37537,999Work in process

2,277

1,878

ASSETS
Current assets

Securities

Raw materials and supplies

12,552

14,861

Other

7,624

10,770Allowance for doubtful accounts

(153)

(223)

245,572

244,629

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net

15,68017,045(8,990)(9,778)

6,690

7,266

16,187

19,458(9,721)(11,811)

6,466

7,647

Tools, furniture and fixtures

5,880

6,588

Accumulated depreciation(4,777)(5,226)

1,103

1,362

5,859

6,036

39

2,824

20,15825,135

Goodwill

48

16

Software

2,617

2,021

36

54

2,702

2,092

Investment securities

12,144

10,472

Deferred tax assets

2,162

Distressed receivables

4,842

Tools, furniture and fixtures, net
LandConstruction in progress
Total property, plant and equipment
Intangible assets

Other
Total intangible assets
Investments and other assets

Other

3,499

1,179
5,015
3,340

Allowance for doubtful accounts(4,864)(5,073)

Total investments and other assets

17,784

14,934

Total non-current assets

40,64542,162286,217

286,792

Total assets-7-

(Million yen)
FY 2023/3(As of March 31, 2023)

FY 2024/3(As of March 31, 2024)

LIABILITIESCurrent liabilities
Notes and accounts payable - trade79,232

71,392

Short-term loans payable

19,585

10,604

Accrued expenses

8,400

8,419

Income taxes payable

6,011

2,238

Provision for directors’ bonuses

465

437

Other

13,852

11,709Total current liabilities

127,547

104,803

Bonds payable

10,00010,000Long-term loans payable

10,60010,500

Deferred tax liabilities

2,634

3,241

143

94

Net defined benefit liability

2,148

2,342

Asset retirement obligations

627

660

Non-current liabilities

Provision for directors’ retirement benefits

Other

2,778

3,918

Total non-current liabilities

28,93230,757

156,479

135,560

Capital stock

12,133

12,133

Capital surplus

14,82014,849Retained earnings

95,945110,250

Total liabilities
NET ASSETS
Shareholders’ equity

Treasury shares(5,614)(5,603)

Total shareholders’ equity

117,285

131,629

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges

2,534

3,075

(18)

21

Foreign currency translation adjustment

9,568

15,803Remeasurements of defined benefit plans

239

303

Total accumulated other comprehensive
income12,322

19,204

129

396

129,737

151,231286,217

286,792

Non-controlling interests
Total net assets
Total liabilities and net assets-8-(2) Consolidated statements of income and comprehensive income(Million yen)
FY 2023/3(April 1, 2022 –March 31, 2023)
Net sales
Cost of sales

FY 2024/3(April 1, 2023 –March 31, 2024)

608,064
529,550542,697472,244

78,51446,26570,45244,60732,24925,845

211
279

891
253

97

－

107
227
126
412
1,461

－
136
135
992
2,409

Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Gain on bargain purchase
Gain on liquidation of subsidiaries andassociates
Gain on revision of retirement benefit plan
Other

748
－
－
223
971

890
80
741
565
2,278

32,73925,976

20
626
－

18
1,420
481

－

480

Total extraordinary income
Extraordinary loss
Impairment loss
Loss on retirement of non-current assets
Loss on sales of investment securities
Loss on valuation of investment securities
Other
Total extraordinary loss
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit

126
1

－
8

774

2,408

644
37
12
348
11
1,054
32,460
9,197
167
9,365
23,094

16
14
0
238
13
284
28,099
6,292
1,483
7,776
20,32323,07020,34523(21)

Gross profit
Selling, general, and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Commission fee Share of profit of entities
accounted for using equity method
Foreign exchange gain
Commission fee
House rent income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss from equity method investments
Foreign exchange losses
Other
Total non-operating expenses

Profit attributable to owners of parent
Profit (loss) attributable to non-controllinginterests-9-

(Million yen)
FY 2023/3(April 1, 2022 –March 31, 2023)
Other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans,
net of tax
Share of other comprehensive income ofentities accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to ownersof parent
Comprehensive income attributable to noncontrolling interests- 10 -FY 2024/3(April 1, 2023 –March 31, 2024)

1,235

537

(16)

40

4,033

6,329

28

64

97

(82)

5,378

6,889

28,472

27,21328,44527,22726(13)

(3) Consolidated statement of changes in equity
For the fiscal year ended March 2023 (April 1, 2022 – March 31, 2023)(Million yen)

Shareholdersʼ equity
Capitalstock
Balance at the beginning of current
periodCapitalsurplus12,133Retainedearnings

14,81877,423Adjustment of hyperinflation

TreasurysharesTotalshareholdersʼ
equity(5,643)98,732

45

Balance at the beginning of current
period reflecting the adjustment ofhyperinflation

12,133

14,81877,46945(5,643)

98,778Changes of items during period
Dividends of surplus(4,594)(4,594)

Profit attributable to owners ofparent23,07023,070Purchase of treasury shares
Disposal of treasury shares

10

Change in ownership interest ofparent due to transactions with
non-controlling interests
Net changes of items other thanshareholdersʼ equity

(3)

(3)

32

43

(8)

(8)

Total changes of items during period－

218,47629

18,507

Balance at the end of current period

12,133

14,82095,945(5,614)

117,285

Total
Nonaccumulated controlling
otherinterests
comprehensi
ve income

Total
net
assets

Accumulated other comprehensive income

Balance at the
beginning of current
periodAdjustment ofhyperinflation
Balance at the
beginning of current
period reflecting theadjustment ofhyperinflation
Changes of items
during period
Dividends of surplus
Profit attributable toowners of parent
Purchase oftreasury shares
Disposal of treasury
sharesChange in ownershipinterest of parent
due to transactions
with non-controllinginterests
Net changes of
items other thanshareholdersʼ equity
Total changes of
items during period
Balance at the end ofcurrent period

Valuation
Deferreddifference on gains oravailable-for- losses onsalehedgessecurities
1,299

(2)

Foreigncurrencytranslation
adjustment

Remeasurementsof defined
benefit
plans

5,439

210

6,948

120

105,800
45

1,299

(2)

5,439

210

6,948

120

105,846(4,594)23,070
(3)
43

(8)

1,234

(16)

4,128

28

5,374

9

5,383

1,234

(16)

4,128

28

5,374

9

23,891

2,534

(18)

9,568

239

12,322

129

129,737- 11 -

For the fiscal year ended March 2024 (April 1, 2023 – March 31, 2024)(Million yen)

Shareholdersʼ equity
Capital stock
Balance at the
beginning of current
periodRetainedearnings

Capital surplus

12,133

14,820Treasury shares

95,945

Total
shareholdersʼ
equity(5,614)

117,285

Changes of items
during period
Dividends ofsurplusProfit attributable toowners of parent
Purchase oftreasury shares
Disposal oftreasury shares
Net changes of
items other thanshareholdersʼ equity
Total changes of
items during period
Balance at the endof current period

Balance at the
beginning of current
periodChanges of items
during period
Dividends ofsurplusProfit attributableto owners ofparent(6,040)(6,040)20,345

20,345

28

(6)

(6)

17

45

－

28

14,304

10

14,344

12,133

14,849110,250(5,603)

131,629

Accumulated other comprehensive income
NonValuation
Total
Remeanet
Foreignsurements accumulate controlling Total
difference on Deferredassetsgains orcurrencyofdefinedinterests
available-for- losses ond othertranslation
benefitsale
comprehenhedgesadjustment
plans
securities
sive income
2,534

(18)

9,568

239

12,322

129

129,737(6,040)20,345Purchase oftreasury shares(6)

Disposal oftreasury shares

45

Net changes of
items other thanshareholdersʼ
equity

541

40

6,235

64

6,881

267

7,149

Total changes of
items during period

541

40

6,235

64

6,881

267

21,493

Balance at the endof current period

3,075

21

15,803303

19,204396

151,231- 12 -

(4) Consolidated statement of cash flows(Million yen)

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Amortization of goodwill
Increase (decrease) in provision for
directors’ bonuses
Increase (decrease) in allowance for
doubtful accounts
Interest and dividend income
Interest expenses
Share of (profit) loss of entities accounted
for using equity method
Loss (gain) on sales of investment
securities
Loss (gain) on valuation of investment
securities
Gain on bargain purchase
Loss (gain) on liquidation of subsidiaries
and associates
Decrease (increase) in notes and accounts
receivable - trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts
payable - trade
Decrease (increase) in accounts receivable- other
Increase (decrease) in accrued expenses
Decrease (increase) in advance payments
Decrease (increase) in consumption taxes
refund receivable
Decrease (increase) in other current assets
Increase (decrease) in other current
liabilities
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating
activities- 13 -FY 2023/3

FY 2024/3(April 1, 2022 –(April 1, 2023 –March 31, 2023)

March 31, 2024)

32,460
4,000
644
54

28,099
4,252
16
32

163

(27)

2,358

254

(490)
748

(1,145)
890

(97)

80

(614)

(1,420)

348

238

－

(481)

－

(480)

(5,952)

21,260

9,316

4,545

(11,503)(12,257)

2,239(1,223)

994
(417)

(475)
612

2,340

(1,257)

(741)

354

393

(2,385)937
37,183491(732)(6,372)

1,373
40,857
1,143(879)(11,736)

30,56929,385

(Million yen)
FY 2023/3

FY 2024/3(April 1, 2022 –March 31, 2023)(April 1, 2023 –March 31, 2024)

Cash flows from investing activities
Payments into time deposits(397)(6,215)

Proceeds from withdrawal of time deposits

－

4,517

Purchase of property, plant and equipment
Proceeds from sales of property, plant andequipment
Purchase of intangible assets(3,691)(5,417)

34

31

(467)

(336)

Purchase of investment securities
Proceeds from sales of investment
securities
Proceeds from purchase of shares ofsubsidiaries resulting in change in scope of
consolidation
Payments for sale of shares of subsidiaries
resulting in change in scope of consolidation
Payments of short-term loans receivable

(750)

(547)

1,102

4,120

－

564

－

(9)

(421)

(30)

(7)

(12)

Other payments

(278)

(217)

Other proceeds

Long-term loan advances

71

582

Net cash provided by (used in) investing
activities(4,805)(2,968)Cash flows from financing activities
Increase (decrease) in short-term loans
payableProceeds from long-term borrowings(5,555)(5,230)500－

Repayments of long-term loans payable(15,040)(5,040)

9,945

－

(21)

－

Proceeds from issuance of bonds
Purchase of shares of subsidiaries not
resulting in change in scope of consolidation
Purchase of treasury shares
Cash dividends paid
Proceeds from share issuance to noncontrolling shareholders
Other, net
Net cash provided by (used in) financing
activities
Effect of exchange rate change on cash andcash equivalents
Net increase (decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of
periodCash and cash equivalents at end of period- 14 -(2)(6)(4,590)(6,033)

－

220

(784)

(883)

(15,549)(16,973)

852

2,667

11,066

12,11039,24050,30750,30762,417

(5) Notes to consolidated financial statements(Notes to going concern assumptions)Not applicable(Segment information, etc.)
a. Segment information
1. Description of reportable segments
The Group’s reportable segments are those for which separate financial information is available
and regular evaluation by the Company’s management is being performed in order to decide how
resources are allocated among the Group. The Company classifies subsidiaries and associates
according to their products and services, and implements comprehensive strategies in Japan andoverseas. Consequently, the Group has four reportable segments that are made of different
categories of products and services: electronic components, information equipment, software andothers. The electronic components segment includes the development, manufacture and sale ofsemiconductors, general electronic components and other products, the electronics manufacturingservice (EMS), and other activities. The information equipment segment includes sales of PCs, PC
peripherals, home electric appliances, photograph and imaging products, original brand products,
and other products. The software segment includes the production of computer graphics, planningand development of amusement products, and other activities. The others segment includes therepair and supports for electronics equipment, and sales of amusement equipment and sports goods,
and others.

- 15 -

2. Information about net sales, profit (loss), assets, and other items is as follows:
For the fiscal year ended March 2023 (April 1, 2022 – March 31, 2023)
Reporting segments
Electronic

Information

components equipment

Software(Million yen)

Adjustment Consolidated

Others

Total

*1

*2

Net sales:
Sales to externalcustomers
Inter-segment
sales or transfers
Total

539,342

43,6802,998

22,044

608,064－

608,064

3,508

7,255

968

7,957

19,689(19,689)－542,850

50,9353,966

30,001

627,754(19,689)

608,064

Segment income

28,314

2,449

286

1,101

32,152

97

32,249Segment assets

265,302

22,7652,033

13,876

303,978(17,761)

286,217

Depreciation

3,529

105

41

337

4,014

(14)

4,000

Increase inproperty, plant andequipment andintangible assets

3,728

60

62

310

4,162

(2)

4,159

OthersFor the fiscal year ended March 2024 (April 1, 2023 – March 31, 2024)
Reporting segments
Electronic

Information

components equipment

Software(Million yen)

Adjustment Consolidated

Others

Total

*1

*2

Net sales:
Sales to externalcustomers
Inter-segment
sales or transfers

472,583

44,305

2,567

23,241

542,697－542,697

4,101

9,874

1,567

5,796

21,340(21,340)－

Total

476,684

54,1794,135

29,038564,037(21,340)

542,697

Segment income

20,887

2,924

370

1,555

25,737

108

25,845

Segment assets

264,058

24,1162,061

14,853305,089(18,297)

286,792

Depreciation

3,689

112

77

388

4,268

(16)

4,252

Increase inproperty, plant andequipment andintangible assets

5,441

33

67

256

5,799

(45)

5,753

OthersNote:

1. The adjustment is as follows:(1) Segment income(Million yen)
Fiscal year ended March2023

Fiscal year ended March
2024

97

108

97

108

Elimination of inter-segmentd
Total- 16 -

(2) Segment assets(Million yen)
Fiscal year ended March2023

Fiscal year ended March
2024

Elimination of inter-segmentd
Corporate *(19,823)(20,637)

2,062

2,340

Total

(17,761)(18,297)* Total corporate assets principally consist of surplus funds of the Company under management(cash and securities, etc.).
(3) Depreciation(Million yen)
Fiscal year ended March2023

Fiscal year ended March
2024

(14)

(16)

(14)

(16)

Elimination of inter-segmentdTotal(4) Increase in property, plant and equipment and intangible assets(Million yen)

Fiscal year ended March2023

Fiscal year ended March
2024

(2)

(45)

(2)

(45)

Elimination of inter-segmentdTotal

2. Segment income is adjusted with operating income on the consolidated statements of income andcomprehensive income.
(Per-share information)(Yen)
FY 2023/3(April 1, 2022 – March 31, 2023)

FY 2024/3(April 1, 2023 – March 31, 2024)

Net assets per share

4,935.36

5,742.22

Earnings per share

878.65774.61

Notes: 1. Earnings per share (diluted) have not been disclosed because there were no potentially dilutive shares.
2. The basis of calculation of earnings per share is as follows.
FY 2023/3(April 1, 2022 –March 31, 2023)

FY 2024/3(April 1, 2023 –March 31, 2024)

Earnings per share
Profit attributable to owners ofparent (million yen)

23,07020,345

Profit not attributable to commonshareholders (million yen)－－

Profit attributable to owners ofparent allocated to common stock(million yen)

23,07020,345

Average number of common stock
outstanding during the fiscal year

26,257,182

26,265,780(Subsequent events)
Not applicable- 17 -