Consolidated Financial Results
for the Nine Months Ended December 31, 2023
[Japanese GAAP]
February 7, 2024
Company name: A&D HOLON Holdings Company, Limited
Stock exchange listing: Tokyo Stock Exchange
Code number: 7745
URL: https://andholon.com/en
Representative: Yasunobu Morishima, President & CEO
Contact: Koji Takahashi, Director and Senior Executive Officer
Phone: +81-48-593-1590
Scheduled date of filing quarterly securities report: February 14, 2024
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Available
Holding of quarterly financial results briefing session: No(Amounts of less than one million yen are truncated.)
1. Consolidated Financial Results for the Nine Months Ended December 31, 2023 (April 1, 2023 to December 31,
2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net profit
attributable to
Net sales
Operating profit
Ordinary profit
parent company
shareholders
Nine months ended

Million yen%

Million yen%

Million yen%

Million yen

%

3,634
3,523

3.1
63.1

December 31, 2023
44,455
5.3
5,179
9.5
5,291
8.6
December 31, 2022
42,217 13.1
4,729
32.5
4,873 32.2
Note: Comprehensive income Nine months ended December 31, 2023: ¥3,768 million [(18.5)%]
Nine months ended December 31, 2022: ¥4,624 million [59.7%]
Nine months ended

Basic earnings
per share

December 31, 2023
December 31, 2022

Yen

Diluted earnings
per shareYen

132.30128.43132.17128.31

Total assets

Net assets(2) Consolidated Financial Position
Million yen

As of December 31, 2023
69,460
As of March 31, 2023
69,418Reference: Equity As of December 31, 2023: ¥35,294 million
As of March 31, 2023: ¥32,502 million

Equity ratio

Million yen%

35,37732,57450.8
46.8

2. Dividends
1stquarter-end
Fiscal year ended March 31, 2023
Fiscal year ending March 31, 2024

Yen-

Annual dividends
2nd
3rd
quarter-end
quarter-end

Year-end

Total

Yen

Yen

Yen

Yen

15.00
15.00

-

20.00

35.00

20.00

35.00

Fiscal year ending March 31, 2024
(Forecast)
Note: Revision to the forecast for dividends announced most recently: No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March
31, 2024)(% indicates changes from the previous corresponding period.)
Net profit attributable
Basic earnings
to parent company
Net sales
Operating profit
Ordinary profit
per shareshareholders
Million yen%

Million yen%

Million yen%

Full period
62,000 5.0
7,800
4.3
7,450
(2.5)
Note: Revision to the financial results forecast announced most recently: No

Million yen

5,110

%

(7.5)

Yen

186.15* Notes:(1) Changes in significant subsidiaries during the period under review: No(Changes in specified subsidiaries accompanying changes to the scope of consolidation)
New: - companies (Company name) - ; Excluded: - companies (Company name) (2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No
Note: For details, please refer to “2. Quarterly Consolidated Financial Statements and Primary Notes, (3) Notes to
Quarterly Consolidated Financial Statements, (Changes in accounting policies)” on page 8 of the Appendix.
(4) Total number of issued shares (common stock)1) Total number of issued shares at the end of the period (including treasury stock):
December 31, 2023: 27,845,208 shares
March 31, 2023: 27,845,208 shares2) Total number of treasury stock at the end of the period:
December 31, 2023: 361,087 shares
March 31, 2023: 393,687 shares
3) Average number of shares during the period:
Nine months ended December 31, 2023: 27,469,611 shares
Nine months ended December 31, 2022: 27,437,724 shares
Note: The total number of treasury stock at the end of the period and the total number of treasury stock which has
been eliminated when calculating the average number of shares during the period include the Company’s
shares held by Custody Bank of Japan, Ltd. (Trust E Account) as trust properties of the stock benefit trust
system.
* These consolidated financial results are outside the scope of quarterly review by certified public accountants or audit
corporations.
* Explanation of the proper use of financial results forecasts and other notes
Forward-looking statements in this document, including financial results forecasts, are based on information available
and certain assumptions deemed reasonable by the Company at present, and the Company does not guarantee theirachievement. Actual business results, etc., may differ significantly due to various factors.

Table of Contents
1. Qualitative Information on Quarterly Financial Results for the Period ..............................................................2(1) Business Results ............................................................................................................................................ 2(2) Financial Position ..........................................................................................................................................3(3) Consolidated Financial Results Forecast and Other Forward-looking Information........................................3
2. Quarterly Consolidated Financial Statements and Primary Notes ......................................................................4(1) Quarterly Consolidated Balance Sheets .........................................................................................................4(2) Quarterly Consolidated Statements of Income and Comprehensive Income ..................................................6
Quarterly Consolidated Statements of Income
Nine Months Ended December 31 ............................................................................................................6
Quarterly Consolidated Statements of Comprehensive Income
Nine Months Ended December 31 ............................................................................................................7(3) Notes to Quarterly Consolidated Financial Statements ..................................................................................8(Notes on going concern assumption) ............................................................................................................8(Notes in the case of significant changes in shareholders’ equity) .................................................................8(Changes in accounting policies) ...................................................................................................................8(Accounting policies adopted specially for the preparation of quarterly consolidated financial statements)......8(Segment information, etc.) ...........................................................................................................................91

1. Qualitative Information on Quarterly Financial Results for the Period(1) Business Results
During the nine months ended December 31, 2023, the outlook for the global economy remained uncertain
due to such factors as the prolonged situation in Ukraine, unstable conditions in the Middle East, sluggish
Chinese economy, monetary tightening primarily in Europe and the U.S., and the impact of exchange rate
fluctuations.
Amid such circumstances, A&D HOLON Holdings Company, Limited (the “Company”), and its subsidiaries(collectively, the “Group”), under a medium-term management plan for fiscal 2022 to 2024, have been
implementing measures to strengthen each business unit’s initiatives and to enhance group synergies to respondflexibly to changes in the external environment during the nine months under review. Particularly in the
Semiconductor-related Business, which is positioned as a growth driver, despite ongoing inventory adjustments
and curbs to capital investment in the semiconductor industry due to trends toward weakness in the semiconductor
market itself, demand for the Group’s products remained robust, resulting in significant year-on-year increases
in both sales and profit. Meanwhile, in the Medical and Healthcare Equipment Business, both sales and profit
decreased year-on-year due to variations in demand by customer and region and the significant impact of foreignexchange. In addition, also in the Measuring and Weighing Equipment Business, both sales and profit decreased
year-on-year due to the significant impact of weak demand for capital investment, primarily in overseas.
As a result, net sales for the nine months ended December 31, 2023, were ¥44,455 million (up 5.3% yearon-year), operating profit was ¥5,179 million (up 9.5% year-on-year), ordinary profit was ¥5,291 million (up8.6% year-on-year), and net profit attributable to parent company shareholders was ¥3,634 million (up 3.1%
year-on-year).
Business results by segment are as follows.
1) Semiconductor-related Business
Sales increased significantly year-on-year due to continued robust orders and our ability to meet customer
demands in both manufacturing and shipping without any request for an extension to the deadline for backorders. In addition to existing efforts to boost profitability, improvements in productivity and cost reduction
by Group-unit procurement led to a substantial year-on-year increase in profit.
As a result, net sales in the Semiconductor-related Business were ¥7,837 million (up 98.3% year-on-year)
and operating profit was ¥2,826 million (up 125.4% year-on-year).
2) Medical and Healthcare Equipment Business
In Japan, while sales of medical products remained at the same level as the previous year, there was adelay in the recovery of demand for home-use blood pressure monitors for large customers, leading todecreased both in sales and profit.
In the Americas, sales increased, mainly for large projects, as favorable demand continued for home-use
blood pressure monitors in the U.S. Profit also increased due to curbs to transportation costs and a good
product mix.
In Europe, although sales were strong on a local currency basis due to being able to maintain local share,both yen-translated sales and profit both decreased due to the impact of significant exchange rate fluctuations.
As a result, net sales in the Medical and Healthcare Equipment Business were ¥17,158 million (down
6.7% year-on-year) and operating profit was ¥3,179 million (down 16.9% year-on-year).
3) Measuring and Weighing Equipment Business
In Japan, sales increased due to a rise in the supply of weighing equipment and the contribution made byshipments of large testing equipment in response to continued demand for industrial capital investment.
However, profit decreased on account of a deterioration in the cost to sales ratio associated with high raw
materials costs and the impact of exchange rates.
2

In the Americas, in addition to a continued reactionary decline from the special demand for mainstay
weighing equipment in the previous fiscal year, sales of measurement, control and simulation systems (DSP
systems) remained sluggish due to persistently weak capital investment demand, leading to a decrease in bothsales and profit.
In Asia and Oceania, both sales and profit decreased due to lagging recovery to demand for measuring
equipment in China and weighing equipment in India.
As a result, net sales in the Measuring and Weighing Equipment Business were ¥19,459 million (down 2.1%
year-on-year) and operating profit was ¥854 million (down 46.0% year-on-year).

(2) Financial Position(Assets, liabilities and net assets)
Total assets as of December 31, 2023, were ¥69,460 million, an increase of ¥42 million compared to the endof the previous fiscal year. This was mainly due to an increase in current assets of ¥267 million, resulting fromfactors such as an increase in inventories, while investments, etc. declined by ¥260 million on account of adecline in deferred tax assets.
Total liabilities as of December 31, 2023, were ¥34,082 million, a decrease of ¥2,760 million compared tothe end of the previous fiscal year. This was primarily due to a decrease of ¥1,781 million in current liabilities
resulting from a decrease in accrued corporate taxes, etc., and a decrease of ¥979 million in fixed liabilities
resulting from a decrease of long-term borrowings.
Net assets as of December 31, 2023, were ¥35,377 million, an increase of ¥2,803 million compared to theend of the previous fiscal year. This was primarily driven by an increase of ¥2,674 million in shareholders’equity due to an increase in retained earnings.
(3) Consolidated Financial Results Forecast and Other Forward-looking Information
There are no changes from the consolidated financial results forecast announced on May 12, 2023.

3

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable and contract assets
Products
Unfinished goods
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Fixed assets
Tangible fixed assets
Land
Other, net
Total tangible fixed assets
Intangible fixed assets
Goodwill
Other
Total intangible fixed assets
Investments, etc.
Total fixed assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable
Short-term borrowings
Long-term borrowings to be repaid within one year
Accrued corporate taxes, etc.
Provision for bonuses
Provision for product warranties
Other
Total current liabilities
Fixed liabilities
Long-term borrowings
Provision for retirement benefits for directors (and otherofficers)
Provision for product warranties
Retirement benefit liabilities
Provision for share-based remuneration for directors(and other officers)
Other
Total fixed liabilities
Total liabilities

4

As of December 31, 2023

15,003
15,284
8,941
5,047
6,278
2,173
(67)
52,66015,031
14,951
9,666
5,685
6,046
1,623
(76)
52,928

5,099
7,168
12,267

5,153
7,266
12,420

35
1,433
1,468
3,021
16,757
69,418

9
1,341
1,351
2,760
16,532
69,4604,971
14,731
2,118
1,515
1,398
212
6,254
31,202

5,138
15,338
1,382
409
723
345
6,084
29,421

3,292

2,293

－

119

54
1,064

95
1,068

92
1,135
5,640
36,843

86
998
4,661
34,082

(Million yen)
As of March 31, 2023
Net assets
Shareholders’ equity
Share capital
Share capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Unrealized gains on other marketable securities
Foreign currency translation adjustments
Accumulated adjustment on retirement benefits
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

As of December 31, 2023

6,388
8,319
19,142(172)
33,677

6,388
8,319
21,806(162)
36,35131(1,250)43(1,175)72
32,574
69,41836(1,101)7(1,056)
82
35,377
69,460(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
Nine Months Ended December 31

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Foreign exchange gains
Rental income from land and buildings
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit (loss)
Extraordinary income
Gain on sales of fixed assets
Total extraordinary income
Extraordinary loss
Loss on sales of fixed assets
Loss on retirement of fixed assets
Loss on valuation of investment securities
Total extraordinary loss
Net profit (loss) before taxes
Corporate tax, resident income tax and business taxes
Corporate tax adjustments
Total corporate taxes
Profit (loss)
Net profit attributable to non-controlling interests
Net profit (loss) attributable to parent company shareholders(Million yen)
For the nine months
ended December 31, 2022
42,21723,432
18,785
14,056
4,729

For the nine months
ended December 31, 2023
44,45524,647
19,807
14,628
5,179

138
86
37
101
363

169
179
36
94
480

189
30
219
4,873

307
60
367
5,291

0
0

0
0

0
0
4
5
4,868
1,425
(90)
1,334
3,533
10
3,523

1
8
－
9
5,282
1,335
298
1,633
3,649
15
3,634

6

Quarterly Consolidated Statements of Comprehensive Income
Nine Months Ended December 31(Million yen)

Profit (loss)
Other comprehensive income
Unrealized gains on other marketable securities
Foreign currency translation adjustments
Adjustment related to retirement benefits
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to parent company shareholders
Comprehensive income attributable to non-controlling interests

7

For the nine months
ended December 31, 2022

For the nine months
ended December 31, 2023

3,533

3,649

(1)
1,161
(69)
1,090
4,624

5
149
(35)
118
3,768

4,612
11

3,752
15

(3) Notes to Quarterly Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Notes in the case of significant changes in shareholders’ equity)
Not applicable.
(Changes in accounting policies)(Application of IAS 12 Income Taxes)
For our overseas consolidated subsidiaries that have adopted the International Financial ReportingStandards (IFRS), we have applied the IAS 12 Income Taxes (amended in May 2021) from the beginning of
the three months ended June 30, 2023. With this application, the accounting treatment upon initial recognition
for transactions that generate equal taxable temporary differences and deductible temporary differences at thetime of the transaction has been clarified. Deferred tax liabilities and deferred tax assets are recognized forthese taxable temporary differences and deductible temporary differences, respectively, in the Quarterly
Consolidated Balance Sheets.
The impact on the quarterly consolidated financial statements due to this change in accounting policy is
minimal.
(Accounting policies adopted specially for the preparation of quarterly consolidated financial statements)
For the nine months ended December 31, 2023
Calculation of tax
expensesTax expenses for certain consolidated subsidiaries are calculated by reasonably
estimating the effective tax rate after tax effect accounting to be applied to profit
before taxes for the fiscal year, which includes the third quarter, and multiplying
profit before taxes by the estimated effective tax rate.

8

(Segment information, etc.)[Segment information]
I. For the nine months ended December 31, 2022
1. Information on net sales and profit (loss) by reportable segment(Million yen)
Semiconductor-related BusinessAmericas

EuropeAsia and
Oceania

3,951

－

－

－

3,951

－

－

－

－

－

3,951

－

－

－

3,951

1,254

－

－

－

1,254

Japan
Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers
Total
Segment profit

Total

Medical and Healthcare Equipment BusinessAmericas

EuropeAsia and
Oceania

4,124

6,750

7,191

328

18,395

9,021

1

3

7,035

16,062

13,146

6,751

7,194

7,364

34,457

2,307

31

1,243

242

3,824

Japan
Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers
Total
Segment profit

Total

Measuring and Weighing Equipment BusinessJapan

Americas

EuropeAsia and
Oceania

Total

Adjustment Consolidation(Note 1)
(Note 2)

Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers

10,970

4,352

729

3,819

19,871－

42,217

2,875

352

0

2,525

5,755

(21,817)－

Total

13,846

4,705

730

6,344

25,626(21,817)

42,217

541

486

102

451

1,582

(1,932)

4,729

Segment profit

Notes: 1. The adjustment of ¥(1,932) million in segment profit includes corporate expenses of ¥(1,300) million notallocated to reportable segments and elimination of unrealized gains on inventories in inter-segment
transactions of ¥(696) million. Corporate expenses are primarily general and administrative expenses for
management departments.
2. Segment profit is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

2. Information on impairment loss or goodwill, etc., for fixed assets by reportable segment
Not applicable.

9II. For the nine months ended December 31, 2023
1. Information on net sales and profit (loss) by reportable segment(Million yen)
Semiconductor-related BusinessAmericas

EuropeAsia and
Oceania

7,837

－

－

－

7,837

－

－

－

－

－

7,837

－

－

－

7,837

2,826

－

－

－

2,826

Japan
Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers
Total
Segment profit (loss)

Total

Medical and Healthcare Equipment BusinessAmericas

EuropeAsia and
Oceania

3,860

7,100

5,908

288

17,158

8,552

0

11

6,056

14,621

12,413

7,101

5,920

6,344

31,780

2,086

427

358

306

3,179

Japan
Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers
Total
Segment profit (loss)

Total

Measuring and Weighing Equipment BusinessJapan

Americas

EuropeAsia and
Oceania

Total

Adjustment Consolidation(Note 1)
(Note 2)

Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers

12,187

3,077

452

3,743

19,459－44,455

1,975

266

－

1,946

4,188

(18,810)－

Total

14,163

3,344

452

5,689

23,648(18,810)44,455

490

107

(36)

292

854

(1,681)

5,179

Segment profit (loss)

Notes: 1. The adjustment of ¥(1,681) million in segment profit (loss) includes corporate expenses of ¥(1,269) million
not allocated to reportable segments and elimination of unrealized gains on inventories in inter-segment
transactions of ¥(447) million. Corporate expenses are primarily general and administrative expenses for
management departments.
2. Segment profit (loss) is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

2. Information on impairment loss or goodwill, etc., for fixed assets by reportable segment
Not applicable.

10