May 9, 2022
Name of Company
Representative

K A G A E L E C T R O N I C S C O ., LT D .
Ryoichi Kado,
Representative Director, President & COO(Stock Code: 8154 Tokyo Stock Exchange, Prime Market)
Eiji Kawamura,Contact
Director, Managing Executive Officer
Head of Administration Headquarters
Tel: 03-5657-0111

Notice regarding upward revision to full-year earnings anddividends forecasts
In light of recent earnings trends, Kaga Electronics Co., Ltd. (hereinafter, “the Company”)
has revised its forecasts announced on February 3, 2022, with respect to consolidated
full-year earnings and dividends for the fiscal year ended March 31, 2022. Details are asfollows.
１．Revision of earnings forecast
Revision to consolidated earnings forecast for the fiscal year ending March 31, 2022
(from April 1, 2021 to March 31, 2022)
Profitattributable Net income
to owners of per shareparentNet sales

OperatingincomeOrdinary
incomeMillion yen

Million yen

Million yen

Million yenyen

475,000

17,50018,00012,000449.13

Revised forecast (B)495,000

20,90021,40015,300572.65Difference (B) – (A)20,000

3,400

3,400

3,300Percent change (%)

4.2

19.4

18.9

27.5

422,365

11,467

11,241

11,399Previous forecast (A)(Announced on February 3, 2022)(Reference)
Results for the fiscal year
ended March 31, 2021

415.07< Reasons for revision >In the consolidated fiscal year ended March 31, 2022, despite facing various issues, including
the resurgence of the spread of COVID-19 as a result of variants, stagnation in international
distribution networks, and rising raw materials prices, there was a notable recovery inproduction activities in the electronics industry, to which the Company belongs. Amid thesetrends, strong demand continued for semiconductors and electronic components in various
product fields, although there were supply chain disruptions caused by supply shortages ofsome materials.
In the electronic components business, which is the Group’s core business, strong sales‐ 1 ‐continued throughout the year, particularly for automotive, medical, and industrial equipment
applications, as a result of the Company’s early efforts to capture the requests of customers
from a broad range of industries. Furthermore, the Company utilized the strengths of its
procurement network as an independent trading company to enable it to maintainwidespread sales quantities, which supported performance in the consolidated fiscal year
under review. In addition, performance was also positively affected by the fact that foreignexchange rates trended more toward a weaker yen than was initially expected, andaccordingly, the Company now expects net sales as well as all profit items, including
operating income, ordinary income, and profit attributable to owners of parent, to exceed theprevious forecasts and reach new record highs.
Taking into consideration the aforementioned circumstances, the earnings forecasts
announced on February 3, 2022, have been revised upward as presented above.
2．Revision of dividend forecast
End of 1st halfPrevious forecast(Fiscal year ended March 31, 2021）

65 yen110 yen

75 yen

Revised forecast(Reference)
Dividends for theprevious fiscal year

Total

(Ordinary dividend 40 yen) (Ordinary dividend 80 yen)
(Extraordinary dividend 25 yen) (Extraordinary dividend 30 yen)

(Announced on February 3, 2022)

Dividends for thecurrent fiscal year

Annual dividends
Year-end

120 yen(Ordinary dividend 40 yen) (Ordinary dividend 80 yen)
(Extraordinary dividend 35 yen) (Extraordinary dividend 40 yen)

45 yen(Ordinary dividend 40 yen)
(Extraordinary dividend 5 yen)

50 yen30 yen80 yen(Ordinary dividend 30 yen) (Ordinary dividend 60 yen)(Ordinary dividend 30 yen)
(Extraordinary dividend 20 yen) (Extraordinary dividend 20 yen)＜Reasons for revision＞
The Company positions the return of profits to shareholders as one of its most importantmanagement policies, and in addition to endeavoring to strengthen its financial position andmanagement foundation with a long-term perspective, has a basic policy of maintaining
stable and ongoing dividends commensurate with the consolidated results.
To date, the Company has twice made upward revisions to consolidated earnings forecasts
and increased the year-end dividend for the fiscal year ended March 31, 2022, but based on
the new revisions to earnings forecasts, as described above, the Company will increase theforecast for the year-end dividend to 75 yen per share (40 yen of ordinary dividend and 35
yen of extraordinary dividend), an increase of 10 yen to the extraordinary dividend, from theprevious forecast of 65 yen per share.
As a result, the annual dividend will be 120 yen per share, an increase of 40 yen from thedividend paid in the previous fiscal year.

(Note) The above forecasts are based on the information currently available to the Company on the date of the releaseand certain assumptions deemed reasonable. Actual results may vary from the forecast for a variety of reasons.

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