February 7, 2023

Osaki Electric Co., Ltd.
Tokyo Stock Exchange Prime MarketSecurities code: 6644

FY2022 Third Quarter
Summary of Consolidated Financial Results(Nine Months ended December 2022)⚫

⚫
⚫

Consolidated sales increased by 12.8% in the amount of 60.6 billion yen from thecorresponding period in the previous fiscal year. Operating income was 1.06 billion
yen, an increase by 34.4%. Net income attributable to owners of parent was 0.54
billion yen compared to a loss of 0.48 billion yen in the previous fiscal year, including
an extraordinary income for the sale of subsidiaries in Japan and overseas.
In smart meters & solutions in Japan, sales of smart meters and solutions increased andprofits expanded accordingly.
In smart meters & solutions in overseas, while shipments to Oceania showed steady
growth, shipments to UK decreased due to electronic component shortages. All in all,sales decreased in U.S. dollar basis, but increased in Yen due to yen depreciation.
Profits decreased due to a hike in material costs, marking an operating loss.

1. Consolidated Financial Results(Millions of yen)
YoY ChangeFY2021 3Q
Net sales
Smart meters & solutions in Japan
Smart meters & solutions overseas
Production equipment
Real estate
Adjustment

Gross profit
Ratio to sales
SG & A expenses
Ratio to sales
Operating income

FY2022 3Q

53,75532,24821,395
547
415
(852)
11,96760,64237,517
22,699761
427(762)
12,597

22.3%

20.8%

11,177

11,534

20.8%

19.0%

790

1,063

Amount

6,887
5,268
1,303
214
1189
629

%

+12.8%+16.3%+6.1%+39.2%+2.8%－+5.3%(1.5)pt

357

+3.2%

272

+34.4%(1.8)pt

Ratio to sales

1.5%

1.8%

Smart meters & solutions in Japan

Adjustment

83523(229)
211(50)2,186(1,343)
9218(7)

1,351(1,367)
239
643+161.8%－－+2.9%－Ordinary income

808

460(348)(43.1)%

Profit attributable to owners of parent(484)

543

1,028

－

Net income per share（yen）(9.88)

11.43

21.31

－

Smart meters & solutions overseas
Production equipment
Real estate+0.3pt* "Production equipment" includes accumulated sales and profits of Osaki Engineering Co., Ltd. forthe six months ended September 30, 2022. Osaki Electric has sold all holding shares of Osaki
Engineering Co., Ltd. as of September 30th.

12. Revenue by Business Portfolio (Excluding intercompany sales)（1）Smart meters & solutions in Japan(Millions of yen)
YoY Change

Smart meter business
Solution businessSwitchgear business
Total

FY2021 3Q

FY2022 3Q

22,0506,811
3,369
32,23025,067
8,402
4,031
37,500

Amount

3,016
1,590
662
5,269%+13.7%+23.4%+19.6%+16.3%

Full-year
Revised
Forecasts

34,50012,0006,800
53,300*Referential figures are based on managerial accounting.

Smart meter business: Sale of smart meters and measurement and control equipment
including smart meter peripheral devices for power companies.
Solution business: Providing services and products and delivering solutions tocustomers (other than power companies)
Switchgear business: Sale of switchgears（2）Smart meters & solutions overseas(Millions of yen)
YoY Change

Oceania
EuropeAsia
Middle East and others
Total
Average exchange rate

FY2021 3Q

FY2022 3Q

7,816
7,955
4,063
832
20,668

10,171
6,278
4,200
1,384
22,034\108.58/USD\128.30/USD

Amount%2,354(1,677)136551
1,365+30.1%(21.1)%+3.4%+66.3%+6.6%

Full-year
RevisedForecasts

15,600
10,2005,900
1,800
33,500*Calculations on each region are based on the annual securities report.

3. R&D Expenditures, Depreciation, Capital expenditures(Millions of yen)
YoY Change

Full-year
Forecasts

FY2021 3Q

FY2022 3Q

Depreciation

2,341
1,870

2,304
1,959(37)88(1.6)%
+4.8%

3,300
2,500

Capital expenditures

1,701

1,018(682)(40.1)%

2,600

R&D expenditures

2Amount%

4. FY2022 Consolidated Forecast
Changes are made to the financial year ending March 31, 2023 as following.
(Millions of yen)
Difference (B－A)

Full-year
FY2021

FY2022PreviousForecast（A）

76,18480,00088,0008,000+10.0%

46,00649,00053,300

4,300

+8.8%

30,06830,80034,5003,700+12.0%

1,246

1,300

1,300

－

－

(1,137)(1,100)(1,100)－－Operating income

1,277

1,000

1,500

500

+50.0%

Smart meters &solutions in Japan

1,225

1,800

3,000

1,200

+66.7%

Smart meters &solutions overseas

58(1,100)(1,800)(700)－Others(11)

300300－－4－－－－

Ordinary income

1,189

1,100

1,100－－

Profit attributable toowners of parent(658)920

1,00080+8.7%

Net sales
Smart meters &solutions in Japan
Smart meters &solutions overseas
OthersAdjustment

Adjustment

FY2022
RevisedForecast（B）

Amount%Reasons for changes in the FY2022 Consolidated Forecast
1. Smart meters & solutions in Japan Smart meters and solutions businesses anticipate steady demand, and sales inJapan are expected to exceed the previous sales forecast.
 Profits are expected to exceed the previous forecasts due to sales increase andhigher manufacturing rates.
2. Smart meters & solutions overseas
 Overseas sales are expected to exceed the previous sales forecast with steadyshipments in Oceania and recovery in shipment demand in Asia.
 Profits are expected to lower the previous forecasts, since the financial impact
from price pass-through of high material costs will be effective later thanoriginally anticipated.
⚫ Forward-looking

statements made in this material are based on the management’s estimates, assumptions andprojections at the time of publication and do not represent a commitment that they will be achieved. A number of factorsmay cause the actual results to differ materially from the forecasts.
⚫ All amounts are in millions of yen and rounded down, unless otherwise stated.

Financial data (Excel/PDF) are available on our website (https://www.osaki.co.jp/en/ir/finance/financialdata.html).

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