(For reference purposes only)

Consolidated Financial Results for the 1st Quarterof the Fiscal Year Ending March 31, 2024 [Japanese Standard]August 8, 2023
Stock exchange: Tokyo
Listed company name: AIDA ENGINEERING, LTD.
Stock code:
6118 (URL https://www.aida.co.jp/en/)
Representative:
Toshihiko Suzuki, Representative Director and President (CEO)Contact:
Hiromitsu Ugawa, Director, Managing Executive Officer, Division Manager, General Administration Headquarters
Tel: +81-42-772-5231
Scheduled date of filing quarterly securities report:
August 8, 2023
Scheduled beginning date of dividend payment:－
Preparation of supplemental explanatory materials:
Yes
Holding of quarterly financial results briefing:
None(Figures are rounded down to the nearest million yen)
1. Consolidated Results for 1st Quarter of the Fiscal Year Ending March 31, 2024 (April 1, 2023 to June 30, 2023)(1) Consolidated Financial Results(Percentages represent change compared to the previous period)
Net income
Net sales
Operating income
Ordinary income
attributable toowners of parent
Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%748－473－(117)－(175)－Three months ended
16,86723.4
671－
June 30, 2023
Three months ended
13,665
4.5(121)－
June 30, 2022
Note: Comprehensive income: Three months ended June 30, 2023
Three months ended June 30, 2022
Net income pershare

Diluted net income
per share

Yen

Yen

7.93

7.92

(2.94)－Total assets

Net assets

Three months ended
June 30, 2023
Three months ended
June 30, 2022

2,522 million yen (－%)
(27) million yen (－%)

(2) Consolidated Financial Position
Millions of yen

As of June 30, 2023
As of March 31, 2023
Reference: Shareholders’ equity

Shareholders’equity ratio

Millions of yen

118,397
116,287
As of June 30, 2023
As of March 31, 2023

Net assets per share%Yen

78,64866.4
78,04367.0
78,557 million yen
77,951 million yen

1,315.31
1,305.47

2. Cash Dividends
Cash dividends per share
1Q EndYear ended March 31, 2023
Year ending March 31, 2024
Year ending March 31, 2024
(forecast)

2Q End3Q EndYear-end

Total

Yen

Yen

Yen

Yen

Yen

————

30.00

30.00

——

30.00

30.00

Note: Revision of dividend forecast for this period: None3. Forecasts of Consolidated Results for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)(Percentages represent change compared to the previous corresponding period)
Net income
NetNet sales
Operating income
Ordinary income
attributable to owners incomeof parent
per share
Millions of yen% Millions of yen%

Six months
ending36,000
11.9
2,350
228.0
September
30, 2023
Full year
72,000
4.7
4,700
205.2
Note: Revision of forecasts of consolidated results: None

Millions of yen%

Millions of yen%

Yen

2,450

210.4

1,800

263.1

30.14

4,900186.5

3,600

177.960.29

4. Others(1) Changes in significant subsidiaries during the period: None
(2) Application of special accounting treatment used in preparation of the quarterly consolidated financial statements:
Yes
Note: Please refer to “(Accounting Policies Adopted Specially for the Preparation of Quarterly Consolidated FinancialStatements)” in “(3) Notes to Quarterly Consolidated Financial Statements” on page 8 for details.
(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1. Changes in accounting policies due to revisions of accounting standards: None
2. Changes in accounting policies other than “1”: None
3. Changes in accounting estimates: None
4. Retrospective restatement: None
(4) Number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2023
69,448,421 shares
As of March 31, 2023
69,448,421 shares
2. Total number of treasury shares at the end of the period
As of June 30, 2023
9,723,311 shares
As of March 31, 2023
9,736,558 shares
3. Average number of shares outstanding during the period
Three months ended June 30, 2023
59,716,806 shares
Three months ended June 30, 2022
59,699,645 shares

Quarterly financial results are exempt from audit conducted by certified public accountants or an audit corporation.
Statement for proper use of business forecast and other special remarks:
The above forecasts and those presented in appended material are based on the information presently available.
Actual results may differ from these forecasts due to changes in various factors. For the assumptions used as a basis forthe business forecast and notes for using the forecast, please refer to “(3) Consolidated financial results forecast and otherforward-looking information” on page 3 of the attachments.

Table of Contents - Attachments
1. Qualitative information on the financial results for the period under review ................................................. 2(1) Operating results ........................................................................................................................................ 2(2) Financial position ....................................................................................................................................... 3(3) Consolidated financial results forecast and other forward-looking information ........................................ 3
2. Consolidated Financial Statements and Principal Notes ................................................................................ 4(1) Consolidated Balance Sheets ..................................................................................................................... 4(2) Consolidated Statements of Income and Comprehensive Income ............................................................. 6(3) Notes to Quarterly Consolidated Financial Statements .............................................................................. 8(Notes to Going Concern Assumption) ...................................................................................................... 8(Notes Regarding Remarkable Fluctuation in Shareholders’ Equity) .......................................................... 8(Accounting Policies Adopted Specially for the Preparation ofQuarterly Consolidated Financial Statements) .......................................................................................... 8(Segment Information) ............................................................................................................................... 8(Significant Subsequent Events) ................................................................................................................ 93. Supplementary Information ............................................................................................................................ 9
Status of Orders .......................................................................................................................................... 91

1. Qualitative information on the financial results for the period under review(1) Operating results
During the three months ended June 30, 2023, the global economy was generally in a recovery phase with normal
conditions restored after COVID-19 and gradually relaxed supply constraints on semiconductors and others, but
downside risks still exist as economic activities are weighed down with the prolonged Russia and Ukraine conflict andtight monetary policy accompanied by high inflation, and there are and will be concerns about geopolitical risks, suchas tensions between the United States and China.
In the metalforming machinery industry, the Japan Forming Machinery Association reported that orders for pressmachines received in the three months ended June 30, 2023 decreased 9.2% year on year to ¥42,392 million, resulting
from reduced overseas projects.
Under these conditions, orders received by AIDA ENGINEERING, LTD. (the “Company”) and its groupcompanies (collectively, the “Group”) in the three months ended June 30, 2023 were ¥22,679 million (down 28.6%year on year), due to a reaction to rush orders before price increase in the corresponding period of the previous year
even while demand for high-speed press machines for electric vehicles has remained firm. The order backlog as ofJune 30, 2023 reached a record high of ¥76,155 million (up 8.3% from the end of the previous fiscal year).
Net sales were ¥16,867 million (up 23.4% year on year), mainly due to increased sales of high-speed pressmachines related to electric vehicles and the impact of yen depreciation.
In terms of profit, operating income was ¥671 million (operating loss of ¥121 million in the same period of theprevious year), ordinary income was ¥748 million (ordinary loss of ¥117 million in the same period of the previousyear), and net income attributable to owners of parent was ¥473 million (net loss attributable to owners of parent of¥175 million in the same period of the previous year). Contributing to this is the fact that increased sales and theimprovement of the product mix raised gross profit margins despite soaring manufacturing costs of raw materials,
subcontracting, logistics, and others.
Operating results by segment during the three months ended June 30, 2023 were as follows.
Japan:

China:

Asia:

Americas:

Europe:Net sales were ¥8,546 million (down 4.2% year on year) due to a decrease in sales of large-sized(customized) press machines, and segment loss was ¥118 million (segment loss of ¥97 million in thesame period of the previous year) mainly due to a sales shortfall and soaring manufacturing costs.
Net sales were ¥3,544 million (up 100.0% year on year) due to increases in sales of press machines
and services in a reaction to the downturn caused by lockdowns in the previous fiscal year. Segment
income was ¥196 million (up 600.4% year on year) due to increased sales.
Net sales were ¥2,893 million (up 31.3% year on year) mainly due to increased sales of generalpurpose press machines for Asia and US group company. Segment income was ¥338 million (up252.6% year on year) mainly due to increased sales and improved gross profit margins.
Net sales were ¥3,235 million (down 11.4% year on year) due to a decrease in sales of large-sized(customized) press machines. Although the improvement of the product mix raised gross profit
margins, segment loss was ¥16 million (segment loss of ¥98 million in the same period of the previousyear) due to an overall sales shortfall.
Net sales were ¥4,482 million (up 120.6% year on year) due to an increase in sales of press machines
thanks to growing demand related to electric vehicles and others. Although rises in manufacturingcosts led to decreased gross profit margins, segment income was ¥79 million (segment loss of ¥1million in the same period of the previous year) due to increased sales.

2(2) Financial position
Total assets as of June 30, 2023 increased by ¥2,109 million from the end of the previous fiscal year to ¥118,397
million. This is attributable to a ¥2,974 million decrease in trade receivables, including notes and accounts receivable- trade, and contract assets and electronically recorded monetary claims - operating, a ¥1,675 million increase ininventories, a ¥1,641 million increase in investment securities, and a ¥1,613 million increase in other underinvestments and other assets.
Total liabilities increased by ¥1,504 million from the end of the previous fiscal year to ¥39,749 million. This isattributable to a ¥1,225 million increase in other under current liabilities.
Net assets increased by ¥605 million from the end of the previous fiscal year to ¥78,648 million. This is attributable
to a ¥1,448 million decrease in retained earnings due to cash dividends, a ¥1,147 million increase in valuationdifference on available-for-sale securities, and a ¥1,302 million increase in foreign currency translation adjustment.
Shareholders’ equity ratio was 66.4% as of June 30, 2023.
(3) Consolidated financial results forecast and other forward-looking information
The forecasts of consolidated results for the fiscal year ending March 31, 2024, which the Company announced on
May 15, 2023, remain unchanged.

3

2. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheets(Millions of Yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims - operating
Finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
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
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Insurance funds
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accountsTotal investments and other assets
Total non-current assets
Total assets

4

As of June 30, 2023

30,51030,52222,506

18,621

1,018
4,387
17,022
4,456
4,457(1,837)
82,522

1,928
4,785
18,005
4,752
4,151
(220)
82,547

26,737(19,222)
7,514
20,479(15,092)
5,387
7,297
234
4,245
(3,665)580
21,015
1,961

27,327(19,591)
7,736
21,201(15,723)
5,477
7,332
209
4,469
(3,836)632
21,389
2,006

9,186
571
633
268
161
(32)
10,78833,765116,287

10,828569640291
1,774(1,649)12,45535,850118,397(Millions of Yen)
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Contract liabilities
Provision for product warranties
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for loss on orders received
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Long-term accounts payable - other
Deferred tax liabilities
Provision for share awards
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets

5

As of June 30, 2023

6,942
2,536
582
500
1,329
345
15,407
615
961

6,832
2,369
630
500
893
292
16,090
627
560

14

17

180
2,470
31,887180
3,696
32,691

1,000
1,005
1,870
649
1,451
9
369
6,356
38,244

1,000
1,130
2,175
664
1,423
9
654
7,058
39,7497,831
13,00755,205(5,247)70,796

7,831
13,00753,757(5,242)
69,352

3,994
(173)
3,463
(130)
7,155
91
78,043
116,287

5,142
(567)
4,766
(136)
9,204
91
78,648118,397

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of Yen)

Three months ended

Three months ended

June 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income (loss)
Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income (loss)
Extraordinary income
Gain on sale of non-current assets
Subsidy income related to suspension or decrease ofproduction
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets
Loss on suspension or decrease of production
Total extraordinary losses
Income (loss) before income taxes
Income taxes
Net income (loss)
Net income (loss) attributable to owners of parent

613,665
11,491
2,174
2,295
(121)

June 30, 2023
16,867
13,743
3,124
2,453
671

21
127
24
173

31
78
16
126

4
159
5
169
(117)

8
31
8
49
748

0

8

7

–

8

8

1
4
6
11(120)54(175)(175)–
1–1755282473473

Consolidated Statements of Comprehensive Income(Millions of Yen)

Three months ended

Three months ended

June 30, 2022
Net income (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

7

June 30, 2023
(175)

473

(925)
(401)
1,491
(16)
148
(27)

1,147
(394)
1,302
(6)
2,048
2,522

(27)

2,522

(3) Notes to Quarterly Consolidated Financial Statements(Notes to Going Concern Assumption)
None(Notes Regarding Remarkable Fluctuation in Shareholders’ Equity)
None(Accounting Policies Adopted Specially for the Preparation of Quarterly Consolidated Financial Statements)(Calculation of tax expenses)
The effective tax rate after the application of tax effect accounting to income before income taxes for the current
fiscal year is reasonably estimated. Tax expenses are calculated by multiplying income before income taxes for thequarter by the estimated effective tax rate.
In addition, “income taxes – current” and “income taxes – deferred” are collectively presented as “income taxes.”(Segment Information)
Information regarding amounts of sales, income or loss, assets, other items, and disaggregation of revenue by reportablesegment
I. Three months ended June 30, 2022
(Millions of Yen)
Consolidated
statementsof income
(*2)

Japan

China

Asia

Americas

EuropeSubtotal

Adjustments(*1)

a. Press Machines

3,198

1,539

944

2,952

1,364

9,998

－9,998b. Service

1,276

163

438

502

494

2,876

－

2,876

c. Others

768

10

40

6790

－

790

Subtotal

5,243

1,712

1,387

3,456

1,865

13,665－

13,665(2) Inter-segment sales

3,674

59

815

197

167

4,914

(4,914)－Total sales

8,917

1,772

2,203

3,653

2,032

18,580(4,914)

13,665Sales(1) Sales to third parties

(97)
28
95
(98)
(1)
(73)
(48)
(121)
Segment income (loss)
Notes:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment income (loss) refer to the adjustment as a result of inter-segment transaction eliminations.
2. Segment income (loss) is adjusted to operating loss of consolidated statements of income.

8II. Three months ended June 30, 2023

(Millions of Yen)
Consolidated
Adjustments
statements(*1)
of income
(*2)

Japan

China

Asia

Americas

EuropeSubtotala. Press Machines

2,575

3,174

1,491

2,638

3,124

13,004－13,004b. Service

1,132

295

519

523

641

3,112

－

3,112

c. Others

735

24－

7

750

－750

Subtotal

4,442

3,472

2,016

3,162

3,773

16,867－

16,867(2) Inter-segment sales

4,103

71

87773709

5,836(5,836)－Total sales

8,546

3,544

2,893

3,235

4,482

22,703(5,836)

16,867Sales(1) Sales to third parties

(118)
196
338
(16)
79479
191
671
Segment income (loss)
Notes:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment income (loss) refer to the adjustment as a result of inter-segment transaction eliminations.
2. Segment income (loss) is adjusted to operating income of consolidated statements of income.

(Significant Subsequent Events)
None

3. Supplementary Information
Status of OrdersThree months ended June 30, 2023

(Millions of Yen)

OrdersAmountOrder backlog

Comparison with theprevious period (%)

AmountComparison with the endof previous year (%)

Japan

8,716

6.8

27,992

18.0

China

3,212(67.5)

17,252

(1.5)

Asia

1,427

(36.3)

4,717(11.1)

Americas

3,421(37.3)

10,9482.4

Europe

5,901

(2.0)

15,245

16.2

Total

22,679(28.6)

76,155

8.3

Notes:
1. Inter-segment transactions have been eliminated.
2. Amounts above do not include consumption tax.

9