Financial and Corporate Information

11-Year Financial Summary
Kaga Electronics Co., Ltd. and Consolidated Subsidiaries
For the years ended March 31 from 2013 to 2023

2013/3

2014/3

2015/3

2016/32017/3

2018/3

2019/32020/32021/32022/32023/3

Net sales (millions of yen)

216,405

257,852

255,143

245,387

227,209

235,921292,779

443,615422,365

495,827

608,064

47,01647,93660,54778,514

Fiscal year
Gross profit (millions of yen)

27,46232,522

32,73833,64831,22532,49835,546

Selling, general and administrative (SG&A) expenses (millions of yen)

26,202

27,416

26,37625,85924,346

24,37927,97637,001

36,46939,632

46,265

Operating income (millions of yen)

1,260

5,106

6,362

7,788

6,879

8,119

7,570

10,014

11,467

20,91532,249Ordinary income (millions of yen)

1,931

5,847

7,664

7,908

7,343

8,740

7,859

10,137

11,241

21,45632,739

444

3,877

4,416

5,437

6,975

6,490

8,014

5,852

11,39915,401

23,070

Profit attributable to owners of the parent (millions of yen)
Cash flows from operating activities (millions of yen)

7,041

3,334

9,127

9,546

10,746

10,077(1,547)22,406

9,999(1,554)30,569Cash flows from investing activities (millions of yen)

(4,910)(3,339)(1,465)(1,263)(258)(4,173)(6,860)(3,651)(2,453)(6,772)(4,805)

Free cash flow (millions of yen)

2,131

(5)

7,661

8,283

10,487

5,904(8,408)18,754

7,545(8,327)25,763

Cash flows from financing activities (millions of yen)

(403)

1,024

(4,431)(3,067)(6,118)(2,811)

11,684(7,544)(6,851)

1,155(15,549)

Depreciation (millions of yen)

2,303

2,418

1,907

1,604

1,452

1,481

1,740

2,754

3,167

3,738

4,000

Capital expenditures / Investment and loans (millions of yen)*1

3,748

4,087

2,660

2,166

1,464

4,520

6,712

6,133

2,906

5,739

4,910

Total assets (millions of yen)

111,888

126,028

127,948

124,281

125,751

128,755

213,761

207,638

237,004

272,139

286,217

Net assets (millions of yen)

48,80652,82559,60361,80865,932

70,631

84,25986,25095,062

105,800

129,737

Equity (millions of yen)

48,65652,78659,564

61,76465,87270,55676,60478,28490,967

105,680

129,608

Interest bearing debt (millions of yen)

15,08917,244

14,573

12,739

9,805

8,900

32,851

28,73638,261

51,171

41,938Cash and deposits (millions of yen)

12,25814,192

18,13022,516

26,42330,80335,00343,38445,636

41,05152,600Inventories (millions of yen)

18,77921,21922,703

19,17519,325

19,45540,02631,90837,94862,60756,20516.09

137.22

156.28192.43249.43236.58292.07213.21415.07576.46878.65

Annual dividend (yen)

30.00

35.00

40.00

55.00

60.00

70.00

80.00

70.00

80.00

120.00220.00

Payout ratio (%)

186.5

25.5

25.6

28.6

24.1

29.6

27.4

32.8

19.3

20.8

25.0

1,721.86

1,868.07

2,108.04

2,185.94

2,401.00

2,571.79

2,790.97

2,850.99

3,311.24

4,026.22

4,935.36

Gross profit margin (%)*2

12.7

12.6

12.8

13.7

13.7

13.8

12.1

10.6

11.3

12.2

12.9

Ratio of SG&A expenses to net sales (%)

12.1

10.6

10.3

10.5

10.7

10.3

9.6

8.3

8.6

8.0

7.6

Operating income margin (%)*3

0.6

2.0

2.5

3.2

3.0

3.4

2.6

2.3

2.7

4.2

5.3

Fiscal year end

Per share data
EPS (yen)

BPS (yen)
Major indicators

Ordinary income margin (%)*4

0.9

2.3

3.0

3.2

3.2

3.7

2.7

2.3

2.7

4.3

5.4

Profit attributable to owners of the parent margin (%)

0.2

1.5

1.7

2.2

3.1

2.8

2.7

1.3

2.7

3.1

3.8

ROE (%)*5

0.9

7.6

7.8

9.0

10.9

9.5

10.9

7.6

13.5

15.7

19.6

ROIC (%)

0.2

5.0

5.2

7.5

8.1

7.2

5.8

6.3

6.9

10.4

13.0

ROA (%)*6

0.4

3.3

3.5

4.3

5.6

5.1

4.7

2.8

5.1

6.1

8.3

Equity ratio (%)

43.5

41.9

46.6

49.7

52.4

54.8

35.8

37.7

38.4

38.8

45.3

Debt equity ratio (times)*7

0.31

0.33

0.24

0.21

0.15

0.13

0.43

0.37

0.42

0.48

0.32

CCC (days)*8

51.4

49.7

49.8

45.9

44.7

40.0

47.1

34.4

46.7

66.6

55.4

Receivables turnover period (days)*9

92.1

85.9

83.2

81.5

83.6

77.1

77.0

75.2

93.7

89.0

77.5

Inventory turnover period (days)*10

31.7

30.0

32.5

28.5

31.0

30.1

35.1

26.3

32.8

46.1

33.7

Payables turnover period (days)*11

72.4

66.2

65.9

64.2

69.9

67.3

65.0

67.0

79.8

68.6

55.8

Number of employees (persons)

5,048

4,752

5,092

5,243

5,216

5,427

6,627

6,731

7,826

7,959

8,092

*1.	Including spending associated with the purchase of property, plant and equipment, intangible assets and investment securities as well as the purchase of shares of subsidiaries resulting in change in scope of consolidation.
*2.	Gross profit margin = Gross profit / Net sales × 100 (%)*3.	Operating income margin = Operating income / Net sales × 100 (%)*4.	Ordinary income margin = Ordinary income / Net sales × 100 (%)*5.	ROE = Profit attributable to owners of the parent / Average equity × 100 (%)

49

KAGA ELECTRONICS CO.,LTD.

*6.	ROA = Profit attributable to owners of the parent / Average total assets × 100 (%)*7.	Debt equity ratio = Interest bearing debt / Equity (times)*8.	Cash conversion cycle (CCC) = Receivables turnover period (days) + Inventory turnover period (days) – Payables turnover period (days)*9.	Receivables turnover period (days) = Notes and accounts receivable—trade / Net sales × 365 (days)*10.	Inventory turnover period (days) = Inventories / Net Sales × 365 (days)*11.	Payables turnover period (days) = Notes and accounts payable—trade / Total purchase of goods × 365 (days)

Integrated Report 2023

50

Financial and Corporate Information

Analysis of Financial Condition and Results of Operations
Fiscal year ended March 31, 2023

Analysis of business performance

Cash flows

During the fiscal year ended March 31, 2023, the economic environment surrounding the Kaga Electronics Group at home andabroad has seen modest yet constant recovery due to the normalization of socio-economic activities in step with the relaxation of
movement restrictions that had been in place to curb the COVID-19 pandemic, along with the alleviation of semiconductor shortages
and supply chain disruption. On the other hand, future outlook remains unclear on the back of the prolongation of Russia-Ukraine
situation, which resulted in surges in food and energy prices, while policy rate hikes aimed at countering inflation induced a radical
shift in foreign exchange rates, with these factors leading to the growing instability of financial systems as a whole.
In the United States and Europe, personal consumption has been mostly robust. However, a sense of anxiety for the future hasgrown stronger due mainly to the collapse of some financial institutions affected by hyperinflation and monetary tightening. In China,
although the economy was negatively impacted by the country’s “zero-COVID” policy, there were signs of recovery in personal consumption following the policy’s lifting. In Japan, despite raised concerns over the impact of surging prices for various items due tothe depreciation of the yen as well as hikes in prices for resources and cereal crops, the economy has recovered modestly in stepwith progress in the normalization of socio-economic activities.
In the electronics industry, to which the Kaga Electronics Group belongs, manufacturers have largely succeeded in resolving lingering issues arising from supply shortages of some semiconductors and electronic parts as well as the resulting prolongation ofdelivery timeframes. Moreover, demand remained robust in a broad range of industrial fields.
Against this backdrop, the Kaga Electronics Group enjoyed substantial growth in sales from the electronic components business—
its core business. Particularly, sales of goods related to automotive and medical equipment saw significant growth in both theelectronic parts and EMS businesses.
In the information equipment business, sales of high-end PC products and security soft expanded, as did sales from the LED
installation business.
Meanwhile, the software business has benefitted from a recovery in the volume of orders received for smartphone game production and computer graphics production.
In the other business, business results for the recycling of PCs and other products were robust.
As a result, sales increased year on year for all business segments, with consolidated net sales for the fiscal year ended March
31, 2023 amounting to ¥608,064 million, up 22.6% from the previous fiscal year.
Operating income rose 54.2% year on year to ¥32,249 million due to increased sales and the improved gross profit margins, bothof which, in turn, contributed to significant expansion in gross profit. Ordinary income grew 52.6% year on year to ¥32,739 million,
while profit attributable to owners of the parent rose 49.8% year on year to ¥23,070 million. Thus, the Group achieved record-high net
sales for the second consecutive year. Furthermore, operating income and ordinary income both hit an all-time high for the fourthconsecutive year, while profit attributable to owners of the parent similarly hit a record high for the third consecutive year.

Cash and cash equivalents as of March 31, 2023 increased ¥11,066 million from March 31, 2022 to ¥50,307 million.
The status and factors thereof for each cash flow category in the fiscal year ended March 31, 2023 are as follows.

Financial condition analysis
Total assets as of March 31, 2023 were up ¥14,077 million from the previous fiscal year-end, amounting to ¥286,217 million. The
main items are as follows.

51

Current assets

Non-current assets

Current assets increased ¥11,587 million to ¥245,572 million.
This is primarily due to an increase of ¥11,549 million in cash
and deposits.

Non-current assets increased ¥2,490 million to ¥40,645
million. This was primarily due to an increase of ¥1,830
million in investment securities.

Total liabilities

Total net assets

Liabilities decreased ¥9,859 million from March 31, 2022, to¥156,479 million. This was primarily due to a ¥7,260 million
decrease in notes and accounts payable—trade a ¥4,273
million decrease in short-term loans payable.

Net assets increased ¥23,937 million from March 31, 2022,
to ¥129,737 million. This was primarily thanks to a ¥18,522
million increase in retained earnings due mainly to ¥23,070
million in profit attributable to owners of the parent, alongwith a ¥4,128 million increase in foreign currencytranslation adjustment.

KAGA ELECTRONICS CO.,LTD.

Cash flow from operating activities

Cash flow from investing activities

Cash flow from financing activities

Net cash and cash equivalents provided
by operating activities totaled ¥30,569
million, compared with ¥1,554 million
used in operating activities in theprevious fiscal year. This was mainly
due to the recording of income before
income taxes.

Net cash and cash equivalents used ininvesting activities totaled ¥4,805
million, compared with ¥6,772 million
used in the previous fiscal year. Thiswas mainly due to purchases ofproperty, plant and equipment.

Net cash and cash equivalents used infinancing activities totaled ¥15,549
million, compared with ¥1,155 million
provided by the previous fiscal year.
This was due mainly to the repaymentof borrowings and the payment ofcash dividends.

Analysis of capital resources and cash liquidity
As for the financing of necessary working capital and funds for capital expenditure, the Kaga Electronics Group utilizes such
sources as cash on hand and borrowings. Looking ahead, the Group intends to procure the necessary working capital and funds
for capital expenditure to support its future operations internally, with cash flows from operating activities positioned as its
financial base.

Funding requirements

Financial policy

The main elements of the Group’s working capital requirement are funds for the purchase of products to be marketedby the Group and for the purchase of raw materials and components to produce its own products. It also requires funds tocover manufacturing costs and selling, general and administrative expenses. Funding needed for investment purposes islargely in connection with capital expenditures and costs
associated with new business M&As and securingcommercial rights.

With respect to the procurement of short-term working capital, the Group’s basic stance is to strive to achieve optimal
capital efficiency within the Group before resorting to borrowings from financial institutions.
With respect to the procurement of funds for M&As, capital
expenditures and long-term working capital, the Group’s
basic stance is to conduct optimal procurement using thevarious methods available to it, extending from direct toindirect financing, with due consideration given to financial
conditions at the time of procurement as well as to the termand purpose of each funding requirement.

Integrated Report 2023

52

Financial and Corporate Information

Consolidated Balance Sheet
Kaga Electronics Co., Ltd. and Consolidated Subsidiaries
At March 31, 2022 and 2023
Thousands of
U.S. Dollars(Note)

Millions of Yen

ASSETS
CURRENT ASSETS:
Cash and bank deposits
Notes receivable—trade
Electronically recorded monetary claims
Accounts receivable—trade
Short-term investment securities
Merchandise and finished goods
Work in process
Raw materials and supplies
OthersAllowance for doubtful accounts
Total CURRENT ASSETSNONCURRENT ASSETS:PROPERTY, PLANT AND EQUIPMENT
Buildings and structures
Accumulated depreciation
Buildings and structures, net

2023

2022
¥

41,051
1,449
9,258
110,240
264
46,2302,363
14,0139,388(275)
233,984¥

52,6001,534
9,683
117,881
195
41,375
2,277
12,552
7,624(153)
245,5722023$

393,923
11,49272,517882,810
1,463
309,855
17,05694,00757,098(1,147)
1,839,077

15,033(8,108)
6,925

15,680(8,990)6,690

117,434(67,326)
50,107

Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net

14,181(8,132)
6,048

16,187(9,721)
6,466

121,226(72,800)
48,426

Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net

5,697(4,667)
1,030

5,880
(4,777)1,103

44,042(35,780)
8,261

Land
Construction in progress
Total PROPERTY, PLANT AND EQUIPMENT

5,074
313
19,3935,859
39
20,15843,881292
150,969

INTANGIBLE ASSETS
Goodwill
Software
OthersTotal INTANGIBLE ASSETS

98
3,021
42
3,163

48
2,617
36
2,702

363
19,601
270
20,235INVESTMENTS AND OTHER ASSETS:
Investment securities
Deferred tax assets
Guarantee deposits
Insurance funds
Distressed receivables
OthersAllowance for doubtful accounts
Total INVESTMENTS AND OTHER ASSETS

10,313
2,189
1,068
915
2,295
1,171
(2,355)
15,59812,144
2,162
1,280
920
4,842
1,298
(4,864)
17,78490,94916,1939,587
6,892
36,263
9,727(36,426)
133,187

38,15540,645

304,391¥ 272,139¥ 286,217$ 2,143,469

Total NONCURRENT ASSETS
Total ASSETS

Thousands of
U.S. Dollars(Note)

Millions of Yen

LIABILITIESCURRENT LIABILITIES:
Notes and accounts payable—trade
Short-term loans payable
Accrued expenses
Income taxes payable
Provision for directors' bonuses
OthersTotal CURRENT LIABILITIESNONCURRENT LIABILITIES:
Bonds payable
Long-term loans payable
Deferred tax liabilities
Provision for directors' retirement benefits
Net defined benefit liabilities
Asset retirement obligations
OthersTotal NONCURRENT LIABILITIES

2023

2022
¥

86,49323,858
7,138
2,834
301
12,291
132,918¥

79,232
19,585
8,400
6,011
465
13,852
127,5472023$

593,371
146,674
62,90745,018
3,485
103,739955,196—
25,136
2,046
123
2,095
572
3,446
33,421

10,00010,600
2,634
143
2,148
627
2,778
28,932

74,88979,382
19,728
1,073
16,092
4,701
20,805
216,673

166,339

156,479

1,171,870

NET ASSETSSHAREHOLDERS’ EQUITY
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total SHAREHOLDERS’ EQUITY

12,133
14,81877,423(5,643)98,732

12,133
14,82095,945(5,614)
117,285

90,867110,988718,532(42,043)878,345

ACCUMULATED OTHER COMPREHENSIVE INCOME
Changes in the fair value of available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit obligations
Total ACCUMULATED OTHER COMPREHENSIVE INCOME

1,299
(2)
5,439
210
6,948

2,534
(18)
9,568
239
12,322

18,977(141)
71,655
1,792
92,283120
105,800

129
129,737970
971,599¥ 272,139¥ 286,217$ 2,143,469

Total LIABILITIES

Non-controlling interests
Total NET ASSETS
Total LIABILITIES AND NET ASSETS

Note: The translations of Japanese yen amounts into U.S. dollar amounts are included solely for the convenience of readers outside Japan and have been made at the rate of ¥133.53 to $1,
the rate of exchange at March 31, 2023.

53

KAGA ELECTRONICS CO.,LTD.

Integrated Report 2023

54

Financial and Corporate Information

Consolidated Statement of Income andComprehensive Income
Kaga Electronics Co., Ltd. and Consolidated Subsidiaries
For the years ended March 31, 2022 and 2023
Thousands of
U.S. Dollars(Note)

Millions of Yen

Thousands of
U.S. Dollars(Note)

Millions of Yen

2022

2023

2023

¥ 495,827¥ 608,064$ 4,553,769

Cost of sales

435,280

529,550

3,965,776

Income taxes—current

5,071

9,197

68,883Gross profit

60,54778,514

587,992

Income taxes—deferred

606

167

1,258

39,632

46,265

346,476

Total income taxes

5,678

9,365

70,141

20,91532,249241,516

Net income

15,66923,094

172,951

15,401

23,070172,776

268

23

174

Changes in the fair value of available-for-sale securities

(78)

1,235

9,252

(52)

(16)

(126)

4,922

4,033

30,206

Net sales

Selling, general and administrative expenses
Operating income
NON-OPERATING INCOME

2023

2022
Income before income taxes¥

Profit attributable to owners of the parent

21,348¥32,4602023$

243,092

Interest income

135

211

1,582

Profit attributable to non-controlling interests

Dividend income

195

279

2,091

OTHER COMPREHENSIVE INCOME

Commission fee

183

227

1,701

Foreign exchange gains

252

107

805

Deferred gains or losses on hedges

House rent income

104

126

947

Foreign currency translation adjustment

Share of profit of entities accounted for using equity method

—

97

732

Remeasurements of defined benefit obligations, net of tax

188

28

212

Others

572

412

3,087

1,443

1,461

10,948 Share of other comprehensive income of entities accounted forusing equity method

95

97

731

5,075

5,378

40,276

Interest expenses

315

748

5,602

Share of loss of entities accounted for using equity method

472

—

—

Others

114

223

1,673

902

971

7,276

21,45632,739245,188

Gain on sales of property, plant and equipment

15

20

151

Gain on sales of investment securities

363

626

4,694

Gain on transfer of business

7

—

—

Gain on revision of retirement benefit plan

—

126

943

Gain on reversal of estimated loss of funds from U.S. subsidiary

176

—

—

Others

34

1

7

596

774

5,797

Impairment loss

93

644

4,823

Loss on disposal of property, plant and equipment

13

37

277

Loss on sales of investment securities

2

12

95

Loss on valuation of investment securities

260

348

2,609

Loss on liquidation of subsidiaries and associates

175

—

—

Provision of allowance for doubtful accounts

129

—

—

Others29

11

88

Total NON-OPERATING INCOME
NON-OPERATING EXPENSES

Total NON-OPERATING EXPENSES
Ordinary income
EXTRAORDINARY INCOME

Total EXTRAORDINARY INCOME

Total OTHER COMPREHENSIVE INCOME
Comprehensive income¥

20,745¥28,472$

213,227¥

20,428¥28,445$

213,026

Comprehensive income attributable to:
Owners of the parent
Non-controlling interests

316

26

200

Note: The translations of Japanese yen amounts into U.S. dollar amounts are included solely for the convenience of readers outside Japan and have been made at the rate of ¥133.53 to $1,
the rate of exchange at March 31, 2023.

EXTRAORDINARY LOSS

Total EXTRAORDINARY LOSS

55

KAGA ELECTRONICS CO.,LTD.

¥

705

¥

1,054

$

7,893

Integrated Report 2023

56

Financial and Corporate Information

Consolidated Statement of Cash Flows
Kaga Electronics Co., Ltd. and Consolidated Subsidiaries
For the years ended March 31, 2022 and 2023

Millions of Yen

2022

2023

Thousands of
U.S. Dollars(Note)

2023

2022

2023

NET CASH USED IN INVESTING ACTIVITIES¥ 21,348¥ 32,460$ 243,092

3,738

4,000

29,956

Proceeds from withdrawal of time deposits

Impairment loss

93

644

4,823

Purchase of property, plant and equipment

Amortization of goodwill

110

54

406

Proceeds from sales of property, plant and equipment

Increase (Decrease) in net defined benefit liability

16

(33)

(253)

Increase in provision for directors' retirement benefits

16

20

151

Increase in provision for directors' bonuses

175

163

1,226

Increase in allowance for doubtful accounts

92

2,358

Interest and dividend income(403)

Interest expenses

Income before income taxes

Payments for time deposits

¥

(856)

¥

(397)

$

(2,976)474——(3,276)(3,691)(27,647)

32

34

261

Purchase of intangible assets(1,377)(467)(3,502)

Purchase of investment securities(1,085)(750)(5,624)

Proceeds from sales of investment securities

834

1,102

8,260

17,662

Payments of short-term loans receivable

(388)

(421)

(3,155)(490)(3,674)

Payments of long-term loans receivable(1,180)

(7)

(54)

315

748

5,602

Purchase of insurance funds

(4)

(4)

(33)

Share of loss (profit) of entities accounted for using equity method

472

(97)

(732)

Payments for guarantee deposits

(28)

(103)

(777)

Gain on sales of property, plant and equipment

(14)

(8)

(64)

Proceeds from collection of guarantee deposits

65

37

284

Loss on retirement of property, plant and equipment

13

37

277

Other payments

(174)

(170)

(1,273)Gain on sales of investment securities

(360)

(614)

(4,599)Other proceeds

194

33

249

Loss on valuation of investment securities

260

348

2,609

Net cash used in investing activities(6,772)(4,805)(35,990)

Gain on reversal of estimated loss of funds from U.S. subsidiary

(187)

—

—

Increase in notes and accounts receivable-trade(7,889)(5,952)(44,578)

NET CASH USED IN FINANCING ACTIVITIES(Increase) Decrease in inventories(22,088)

9,316

69,773

Increase in short-term loans payable

7,636(5,555)(41,606)

2,451(11,503)(86,147)

Proceeds from long-term loans payable

5,000

500

3,744

Decrease in accounts receivable-other

583

2,239

16,771

Repayment of long-term loans payable(668)(15,040)(112,634)

Increase in accrued expenses

887

994

7,450

Proceeds from issuance of bonds

—

9,945

74,481

Decrease (Increase) in advance payments

1,349

(417)

(3,130)Purchase of treasury stock(3,681)(2)(21)(Increase) Decrease in consumption taxes refund receivable

(822)

2,340

17,530Cash dividends paid

(2,551)(4,590)(34,377)

Increase in other current assets

(264)

(741)

(5,550)

Increase in other current liabilities

2,030

393

2,949

(3,811)

(21)

(158)

Others, net

797

922

6,908

Others, net

(767)

(784)

(5,877)

Subtotal

2,723

37,183

278,463

Net cash (used in) provided by financing activities

1,155(15,549)(116,450)Interest and dividend income received

124

491

3,679

Effect of exchange rate change on cash and cash equivalents

2,079

852

6,382

Interest expenses paid

(315)

(732)

(5,484)

Net increase in cash and cash equivalents(5,092)

11,06682,875(4,263)(6,372)(47,726)

Cash and cash equivalents-beginning balance

44,33339,240293,871

175——

Cash and cash equivalents-ending balance¥ 39,240¥ 50,307$ 376,747(1,554)¥ 30,569$ 228,932

Depreciation and amortization

Increase (Decrease) in notes and accounts payable-trade

Income taxes paid
Others, net
Net cash provided by (used in) operating activities

57

Millions of Yen

2023

NET CASH PROVIDED BY OPERATING ACTIVITIESThousands of
U.S. Dollars(Note)KAGA ELECTRONICS CO.,LTD.

¥ Purchase of shares of subsidiaries not resulting in change in scopeof consolidation

Note: The translations of Japanese yen amounts into U.S. dollar amounts are included solely for the convenience of readers outside Japan and have been made at the rate of ¥133.53 to $1,
the rate of exchange at March 31, 2023.

Integrated Report 2023

58

Financial and Corporate Information

Corporate Information
As of March 31, 2023

Company overview
Name

Major affiliates overseas
China

KAGA ELECTRONICS CO., LTD.

Total number of shares authorized
Total number of shares outstanding
Number of shares constituting one unit
Number of shareholders

Address	20 Kandamatsunagacho, Chiyoda-ku,
Tokyo 101-8629, Japan
TEL +81-3-5657-0111
FAX +81-3-3254-7131
Business description	Sale of electronic parts and semiconductors,
provision of EMS,* and sale of finishedproducts such as PCs and PC peripherals, etc.
* Electronics manufacturing services:
Provision of product development andmanufacturing services on a contract basis
Founded

September 12, 1968

Capital¥12,133 million

Number of Group
companies

64 (23 in Japan, 41 overseas and threeaccounted for by the equity method)(Including KAGAELECTRONICS Co., Ltd.)(As of September 30, 2023)

Number of employees(consolidated)

8,092

8154

Fiscal year-end

March 31KAGA (SHENZHEN)ELECTRONICS LTD.

KAGA TAXAN (SUZHOU)ELECTRONICS CO., LTD.

KAGA (SHANGHAI)
ELECTRONICS CO., LTD.
KAGA ELECTRONICS Head Office

Major affiliates in Japan

Percentage
of totalsharesissuedThe Master Trust Bank ofJapan, Ltd. (Trust Account)

2,819

10.73

OKOZE CO., LTD.

1,840

7.01

KAGA (H.K.)
ELECTRONICS LIMITED

Custody Bank of Japan, Ltd.
(Trust Account)

1,815

6.91

Kaga Electronics Employee
Shareowners Association

1,503

5.73

Asia

MUFG Bank, Ltd.

1,137

4.33

Mizuho Bank, Ltd.

950

3.62

Isao Tsukamoto

730

2.78

The Bank of New York Mellon
140044516

1.97

Mitsubishi Electric Corporation

500

1.90

KAGA COMPONENTS(MALAYSIA) SDN.BHD.

Nippon Life Insurance Company

459

1.75

Note: In addition to the above, there are 2,438 thousand shares of treasury stock.
Percentage of total shares issued is calculated after excluding treasury stock.

North America

KAGA TECH CO., LTD.

Sale of electronic parts and electronic equipment, etc.

KAGA DEVICES CO., LTD.

Sale of electronic parts and electronic equipment, etc.

Breakdown by type of shareholder
Individuals
9,021,695 shares (9,228)

KAGA SOLUTION NETWORK CO., LTD.	Development, design, construction and maintenance of computer network systems, etc.
AD DEVICE CO., LTD.

Sale of electronic parts and electronic equipment, etc.

KAGA MICRO SOLUTION CO., LTD.

Development, manufacture, sale and recycling of PCs and PC peripherals, etc.

DIGITAL MEDIA LAB., INC.

Planning, development and sale of computer graphics

KAGA SPORTS CO., LTD.

Manufacture, wholesale and sale of sporting goods, etc.

KAGA AMUSEMENT CO., LTD.

Sale of electronic parts and electronic equipment, etc.

KAGA TECHNO SERVICE CO., LTD.

Electrical and communication facilities installation, interior work, etc.

KAGA FEI Co., Ltd.

Sale of electronic parts and electronic equipment, etc.

KAGA EMS TOWADA CO., LTD.

Manufacture and sale of electronic parts and electronic equipment, etc.

EXCEL CO., LTD.

Sale of electronic parts and electronic equipment, etc.

Kyokuto Electric Co., Ltd.

Manufacture and sale of electronic parts and electronic equipment, etc.

KAGA AEROSYSTEMS CO., LTD.

Import, export, sale and lease of aircraft and related parts

31.43%KAGA FEI AMERICA, Inc.

TAXAN MEXICO S.A. de C.V.

Other Japanese
corporations
4,099,403 shares (139)14.28%

EuropeTotal number ofshareholders

9,657
28,702,118
sharesFinancial institutions
8,435,579 shares (27)29.39%

Foreign corporations
6,565,272 shares (223)
KD TEC TURKEY ELEKTRONIKSANAYI VE TICARET LIMITEDSIRKETI

KAGA ELECTRONICS CO.,LTD.

Number ofshares held
(thousandshares)Name

KAGA ELECTRONICS(THAILAND)COMPANY, LIMITED

59

80,000,000 shares
28,702,118 shares
100 shares
9,657

Principal shareholders

Stock Listing	Tokyo Stock Exchange(Prime Market)
Securities code

Stock information

KAGA FEI EUROPE GmbH22.88%

Financial instruments business operators
580,169 shares (40)2.02%

Integrated Report 2023

60