Disclaimer: This document is an English translation of the original document in Japanese and has been
prepared solely for reference purposes. In the event of any discrepancy between this English
translation and the original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
[Japanese GAAP]May 9, 2024
Company name: SMK Corporation
Stock exchange listing: Tokyo Stock Exchange Prime Market
Code number: 6798
URL: https://www.smk.co.jp
Representative: Yasumitsu Ikeda, President, Chief Executive Officer and Chief Operating Officer
Contact: Kohei Ohgaki, Executive Vice President, Chief Financial Officer
Phone: +81-3-3785-1111
Scheduled date of annual general meeting of shareholders: June 25, 2024
Scheduled date of commencing dividend payments: June 26, 2024
Scheduled date of filing annual securities report: June 25, 2024
Availability of supplementary explanatory materials on financial results: Available
Schedule of financial results briefing session: Scheduled (for institutional investors and analysts)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 - March 31, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Fiscal year ended
Million yen%
Million yen%
Million yen%
Million yen%
March 31, 2024
46,522(15.2)(1,243)－226(91.0)(489)－
March 31, 2023
54,842
13.7
1,128
60.3
2,503
(26.7)
1,334(55.4)(Note) Comprehensive income: Fiscal year ended March 31, 2024: ¥1,355 million [(25.4)%]
Fiscal year ended March 31, 2023: ¥1,815 million [(50.7)%]
DilutedRatio ofRatio of
Basic earnings
Return on
earnings
ordinary profit operating profit
per share
equityper share
to total assets
to net sales
Fiscal year ended
Yen
Yen
%
%
%
－
(1.5)
0.4
(2.7)
March 31, 2024
(75.00)March 31, 2023
209.12
－
4.2
4.5
2.1
(Reference) Share of profit (loss) of entities accounted for using equity method:
Fiscal year ended March 31, 2024: ¥1 million
Fiscal year ended March 31, 2023: ¥71 million(2) Consolidated Financial Position
Total assets
Million yen

Net assets

Equity ratio

Net assets per share

Million yen%

Yen

58,444As of March 31, 2024
32,14356,365
As of March 31, 2023
32,274(Reference) Equity: As of March 31, 2024: ¥32,143 million
As of March 31, 2023: ¥32,274 million

55.0
57.3

5,070.15
4,932.86

(3) Consolidated Cash Flows
Cash and cash
equivalents
at end of period

Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Million yen

Million yen

Million yen

Million yen

3,719
3,591

(1,617)(1,944)

(478)
(862)

10,197
8,915

Fiscal year ended
March 31, 2024
March 31, 2023
2. Dividends

Annual dividends

Total cash
dividends

PayoutRatio(Total)(consolidated)

Ratio ofdividends
to netassets

1stquarterend

2ndquarterend

3rdquarterend

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

–

0.00

–

100.00100.00

659

47.8

2.0

–

50.00

–

50.00

100.00

649

–

2.0

–

50.00

–

50.00

100.00Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2024
Fiscal year ending
March 31, 2025
(Forecast)YearendTotal(consolidated)–

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 - March
31, 2025)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper share
parentFirst half
Full year

Million yen

23,50050,000% Million yen

1.8
7.5

(500)
(200)

% Million yen

–
–

(300)
200

% Million yen–(11.6)

(400)
0

%

–
–

Yen

(63.09)0.00

* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting inchanges in scope of consolidation): None
(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None
(3) Total number of issued and outstanding shares (common stock)1) Total number of issued and outstanding shares at the end of the period (including treasury stock):
March 31, 2024:
7,200,000 shares
March 31, 2023:
7,200,000 shares2) Total number of treasury stock at the end of the period:
March 31, 2024:
860,296 shares
March 31, 2023:
657,252 shares
3) Average number of shares during the period:
Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:

6,525,280 shares
6,382,156 shares(Notes) The number of treasury stock includes the Company’s shares held by Custody Bank of Japan, Ltd. (Trust
Account E) as trust assets for the Board Benefit Trust (BBT).
(Reference) Overview of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 - March 31, 2024)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Operating profit
Ordinary profit
ProfitFiscal year ended
Million yen%
Million yen%
Million yen%
Million yen%
March 31, 2024
22,743(8.8)(1,449)－(630)－(1,196)－
March 31, 2023
24,934
8.3
(600)
－
837
(48.4)
250(84.0)
Basic earnings
per share
Fiscal year ended
March 31, 2024
March 31, 2023

Dilutedearnings
per share

Yen(183.04)39.13(2) Non-consolidated Financial Position
Total assets
Million yen

Yen
－
－

Net assets

Equity ratio

Net assets per share

Million yen%

Yen

45,926
As of March 31, 2024
24,42945,678
As of March 31, 2023
26,783(Reference) Equity: As of March 31, 2024: ¥24,429 million
As of March 31, 2023: ¥26,783 million

53.2
58.6

3,845.03
4,085.50* These consolidated financial results are outside the scope of audit by certified public accountants or an audit firm.

* Explanation of the proper use of financial results forecast and other notes1. The earnings forecasts and other forward-looking statements herein are based on information currently available to
the Company and certain assumptions deemed reasonable, and actual results may differ significantly from these
forecasts due to various factors.
2. The Company plans to hold a briefing session on financial results for institutional investors and analysts on May 23,2024. The explanatory materials on financial results to be used on the day of the session will be posted on the
Company’s website promptly after the meeting.

Table of Contents - Attachments
1. Overview of Operating Results, etc. ........................................................................................................2(1) Overview of Operating Results for the Fiscal Year under Review ...................................................... 2(2) Overview of Financial Position for the Fiscal Year under Review .....................................................3(3) Overview of Cash Flows for the Fiscal Year under Review ................................................................ 3(4) Future Outlook ....................................................................................................................................4
2. Basic Policy on Selection of Accounting Standards ................................................................................4
3. Consolidated Financial Statements and Principal Notes .........................................................................5(1) Consolidated Balance Sheets ..............................................................................................................5(2) Consolidated Statements of Income and Comprehensive Income ......................................................7(3) Consolidated Statements of Changes in Equity ..................................................................................9(4) Consolidated Statements of Cash Flows ........................................................................................... 11(5) Notes to Consolidated Financial Statements .....................................................................................13(Notes on going concern assumption) ..........................................................................................13(Segment information, etc.) ..........................................................................................................13(Per share information) ................................................................................................................. 16
4. Other Information .................................................................................................................................. 17(1) Status of Production, Orders Received and Sales .............................................................................17(2) Changes in Officers ...........................................................................................................................17

1

1. Overview of Operating Results, etc.
(1) Overview of Operating Results for the Fiscal Year under Review
During the fiscal year ended March 31, 2024, the global economy was relatively stable due to rebounddemand in the services sector and support for the economy through firm consumer spending. However, thefuture business climate remains uncertain due to an increase in geopolitical risk caused by the Ukraine crisisand Israel-Hamas conflict and an economic slowdown in China due to sluggish real estate market conditions.
In the manufacturing industry, semiconductor and raw material procurement difficulties trended toward
resolution, but inventory adjustments in the market still continued. In addition, the yen depreciated further
reflecting the difference in interest rates between Japan and the U.S.
In the electronic components industry, overall market conditions remained sluggish. The car electronics
market entered a recovery path as the shortage of semiconductors eases, but a strong recovery was not seen due
to inventory adjustments. In the ICT market, sales of smartphones, tablets, and other devices remained sluggish
due to the prolonged replacement cycle in the U.S. and Europe and a downturn in Chinese economy. In thehome appliance market, sales of housing facilities, air conditioners, and other products remained sluggish due
to inventory adjustments stemming from a reactionary drop of stay-at-home demand and a shift to service
consumption. In the industry market, the situation remained harsh in general as sales of FA and equipmentrelated products remained sluggish due to the slowdown of Chinese economy and other factors, despite anincrease in demand for some of semiconductor-related products and other products.
Despite the Group’s thorough stable procurement of materials, along with maintaining a stable supply of
products to enable immediate response to customer demand, as well as the aggressive introduction of new
products and cost reduction efforts, the inventory adjustments by major customers in the home appliancemarket and car electronics market continued beyond our projection, and the launch of new products by major
customers in the ICT market delayed. As a result, in the fiscal year ended March 31, 2024, net sales amounted
to ¥46,522 million (15.2% decrease year on year), and operating loss was ¥1,243 million (compared tooperating profit of ¥1,128 million in the previous fiscal year). Ordinary profit was ¥226 million (91.0%
decrease year on year), and loss attributable to owners of parent was ¥489 million (compared to profit
attributable to owners of parent of ¥1,334 million in the previous fiscal year).
Results by segment are as follows.
[CS Division]
In the car electronics market, sales of connectors exceeded those of the previous fiscal year due to firmsales of camera-related products and expansion in demand for electrical components and other devices. In the
ICT market, although tablet-related demand for U.S. customers decreased, sales exceeded those of the previous
fiscal year as smartphone-related demand for Chinese customers remained strong throughout the year.
Meanwhile, in the home appliance market, although sales of amusement-related products declined year on year
due to the impact of inventory adjustments in the market, sales increased year on year in CS Division as awhole.
As a result, net sales of CS Division amounted to ¥20,586 million (2.9% increase year on year), andoperating profit was ¥1,095 million (22.5% increase year on year).
[SCI Division]
In the home appliance market, in the mainstay remote control business, sales of units for sanitation
expanded steadily, but sales of units for home equipment and air conditioners shrank from those in the previous
fiscal year due to the impact of sluggish sales in the market. In the car electronics market, inventory
adjustments by major customers continued beyond our projection and sales of control units and touch sensors
shrank from those in the previous fiscal year.
In SCI Division as a whole, market conditions stagnated and inventory adjustments by major customers
2prolonged longer than projected, resulting in a year-on-year decline.
As a result, net sales of SCI Division amounted to ¥25,536 million (25.9% decrease year on year), andoperating loss was ¥2,145 million (compared to operating profit of ¥393 million in the previous fiscal year).
[Research & Development Center]
Regarding Bluetooth® modules, the central product of Research & Development Center’s mainstay
wireless communication module businesses, sales for payment terminals and medical devices decreased year
on year, but sales for mobile printers expanded. In addition, sales of Sub-GHz RF modules for lighting
equipment also expanded, and sales of Research & Development Center as a whole exceeded those of theprevious fiscal year.
As a result, net sales of Research & Development Center amounted to ¥387 million (14.2% increase year
on year), and operating loss was ¥184 million (compared to an operating loss of ¥160 million in the previous
fiscal year).

(2) Overview of Financial Position for the Fiscal Year under Review
Current assets increased 1.7% from the end of the previous fiscal year to ¥33,824 million. This was
mainly due to an increase of ¥1,289 million in cash and deposits, and a decrease of ¥853 million inmerchandise and finished goods. Non-current assets increased 6.5% from the end of the previous fiscal year to¥24,619 million. This was mainly due to an increase of ¥1,710 million in investments and other assets.
As a result, total assets increased 3.7% from the end of the previous fiscal year to ¥58,444 million.
Current liabilities decreased 5.1% from the end of the previous fiscal year to ¥15,371 million. This was
mainly due to a decrease of ¥650 million in short-term borrowings. Non-current liabilities increased 38.4%
from the end of the previous fiscal year to ¥10,929 million. This was mainly due to an increase of ¥2,159
million in long-term borrowings.
As a result, total liabilities increased 9.2% from the end of the previous fiscal year to ¥26,300 million.
Total net assets decreased 0.4% from the end of the previous fiscal year to ¥32,143 million. This was
mainly due to a decrease of ¥1,476 million in retained earnings and increases of ¥652 million in foreign
currency translation adjustment and ¥876 million in remeasurements of defined benefit plans.
(3) Overview of Cash Flows for the Fiscal Year under Review
The Company’s consolidated cash and cash equivalents (“cash”) as of the end of the fiscal year ended
March 31, 2024 amounted to ¥10,197 million, an increase of ¥1,282 million from the beginning of the fiscal
year.
The status of cash flows from operating, investing, and financing activities and contributing factors wereas follows:(Cash flows from operating activities)
Net cash provided by operating activities in the fiscal year ended March 31, 2024 increased by ¥127
million from the previous fiscal year to ¥3,719 million.
The increase was mainly attributable to ¥2,451 million in depreciation, and ¥1,440 million in decrease(increase) in inventories.
(Cash flows from investing activities)
Net cash used in investing activities in the fiscal year ended March 31, 2024 increased by ¥327 million
from the previous fiscal year to ¥1,617 million.
The increase was mainly attributable to ¥2,379 million in the purchase of property, plant and equipment.

(Cash flows from financing activities)3

Net cash used in financing activities increased by ¥383 million from the previous fiscal year to ¥478
million yen.
The increase was mainly attributable to ¥1,508 million in net increase in borrowings, offsetting ¥498
million in purchase of treasury shares and ¥984 million in dividends paid.

(4) Future Outlook
The global economy is expected to recover gradually in 2024, with the resilience of the U.S. economy andsteady growth in economies of emerging countries. However, the outlook is expected to remain uncertain due
to the risk of recurrent inflation in the U.S., a downturn in the Chinese economy and geopolitical risks.
In this environment, the Group will strive to respond appropriately to customer needs, aggressively
introduce new products, and further reduce costs and expenses.
The Company’s business performance may be affected in the event that adjustments to productinventories by customers continue for a prolonged period, or if energy and raw material prices rise, leading tohigher production costs, or if exchange rates suddenly reversed to the yen appreciation.
For the fiscal year ending March 31, 2025, the Company forecasts net sales of ¥50,000 million, operating
loss of ¥200 million, ordinary profit of ¥200 million, and profit attributable to owners of parent of ¥0 million.
The foreign exchange rate on which the results forecast is assumed is ¥150 per US dollar.
These forecasts are based on the assumptions possible at this point in time, and if the businessenvironment changes and the business results deviate significantly from the forecasts, the Company willpromptly announce such deviations.
The Company will commemorate the 100th anniversary of its foundation in April 2025. The businessenvironment surrounding the Company is undergoing remarkable changes, including the development of
CASE in the car electronics market, the spread of 5G in the ICT market, and the rapid evolution of IoTtechnology.
To respond appropriately to these changes in the environment toward the next 100 years and achievesustainable improvement in corporate value, we defined “Contribute to the next 100 years with ourmanufacturing capability that meet all manner of needs” as our long-term vision, and formulated a MediumTerm Business Plan “SMK Next 100” that covers a three-year period from this fiscal year as a milestone forthe vision. (Please refer to “Notice regarding the formulation of a long-term vision and a Medium-TermBusiness Plan” announced on May 9, 2024.)
We will steadily execute the Medium-Term Business Plan, make efforts in realizing sustainable growth ofsales and profit and strengthen our operating base, while promoting sophistication of capital and financial
strategies, aiming to maximize corporate value.

2. Basic Policy on Selection of Accounting Standards
The Group’s policy is to prepare consolidated financial statements in accordance with accounting
standards generally accepted in Japan (J-GAAP) for the meantime to ensure comparison of consolidated
financial statements between different companies.
The Group will take appropriate actions upon monitoring various developments in Japan and overseas.

4

3. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheets(Million yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims - operating
Accounts receivable - trade
Merchandise and 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 and impairment
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation and impairment
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation and impairment
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation and impairment
Leased assets, net
Right of use assets
Accumulated depreciation and impairment
loss
Right of use assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

5

As of March 31, 2024

8,969
64
1,606
11,505
4,277
660
5,134
1,080
(47)
33,251

10,25850
3,132
10,039
3,424
592
5,240
1,150
(64)
33,824

19,641(15,583)
4,058
25,238(22,170)
3,068
19,385(18,426)
959
5,869
29
(26)
3
2,131

20,697(16,451)
4,245
25,851(23,020)2,830
18,966(18,011)
954
5,819
39
(35)
3
2,314

(721)

(880)

1,409
198
15,5671,434
39
15,328

94
94

130
130

4,041
92
2,344
97
963
(88)
7,450
23,11356,365

4,327
90
3,788
149
900
(94)
9,160
24,61958,444

(Million yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Lease liabilities
Accounts payable - other
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Valuation reserve for inventory purchasecommitments
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Provision for share awards for directors (and otherofficers)
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
Total net assets
Total liabilities and net assets

6

As of March 31, 2024

4,878
6,491
434
1,774
347
596

4,702
5,840
504
1,801
270
572

26

1

－

107

1,645
16,193

1,571
15,371

4,863
1,028
1,220

7,022
997
2,005

131

132

24

37

29

27

598
7,897
24,090705
10,92926,300

7,996
12,057
14,730(2,531)
32,252

7,996
12,057
13,253(3,030)30,276773－(1,149)397
21
32,27456,365

1,159
(70)
(497)
1,274
1,866
32,14358,444

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Million yen)
For the fiscal year ended
March 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Rental income from real estate
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rental costs on real estate
Loss on investments in investment partnerships
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Other
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets
Impairment losses
Loss on valuation of investment securities
Extra retirement payments
Total extraordinary losses
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to owners of parent

7

For the fiscal year ended
March 31, 2024

54,842
45,231
9,611
8,483
1,128

46,52239,094
7,427
8,671(1,243)

44
70
980
720
603
2,420

102
64
987
1,089
201
2,445

173
549
263
58
1,044
2,503

156
581
112
125
975
226

18
2
－
21

183
273
1
459

0
76
517
25
－
618
1,906
352
219
571
1,334
1,334

－
72
562
1
102
739
(53)
233
201
435
(489)
(489)

Consolidated Statements of Comprehensive Income(Million yen)
For the fiscal year ended
March 31, 2023
Profit (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

8

For the fiscal year ended
March 31, 2024

1,334

(489)

347
2
254
(123)
481
1,815

385
(70)
652
876
1,844
1,355

1,815

1,355

(3) Consolidated Statements of Changes in Equity
Fiscal year ended March 31, 2023 (April 1, 2022 – March 31, 2023)(Million yen)
Shareholders’ equity
Share capital
Balance at beginning of period
Changes during period
Dividends of surplus
Profit (loss) attributable to ownersof parent
Purchase of treasury shares
Disposal of treasury shares
Cancellation of treasury shares
Transfer from retained earnings tocapital surplus
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Capital surplus

7,996

Retainedearnings

12,057

Treasury shares

15,925(4,876)

(439)

(439)

1,334

1,334
(2)
1,191
1,156

(933)
(1,156)

－
7,996

Total
Shareholders’equity31,102

2,089(2,089)－12,057(1,194)
14,730

(2)
257
－
－

2,344
(2,531)

1,149
32,252

Accumulated other comprehensive income

Balance at beginning of period
Changes during period
Dividends of surplus
Profit (loss) attributable to ownersof parent
Purchase of treasury shares
Disposal of treasury shares
Cancellation of treasury shares
Transfer from retained earnings tocapital surplus
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Valuationdifference on
available-forsale securities

Deferred
gains or losses
on hedges

425

(2)

Foreigncurrencytranslation
adjustment(1,404)Remeasurementsof defined
benefit plans

Total accumulated
othercomprehensive
income

520

(459)

Total
net assets
30,643
(439)
1,334
(2)
257
－
－

347

2

254

(123)

481

481

347
773

2
－

254
(1,149)

(123)
397

481
21

1,630
32,2749

Fiscal year ended March 31, 2024 (April 1, 2023 – March 31, 2024)(Million yen)
Shareholders’ equity
Share capital
Balance at beginning of period
Changes during period
Dividends of surplus
Profit (loss) attributable to ownersof parent
Purchase of treasury shares
Disposal of treasury shares
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Capital surplus

7,996

Retainedearnings

12,057－
7,996

14,730(2,531)

(987)

(987)

(489)

(489)

(1,476)
13,253－
12,057

Total
Shareholders’equity32,252

Treasury shares

(500)
1

(500)
1

(498)
(3,030)(1,975)30,276

Accumulated other comprehensive income

Balance at beginning of period
Changes during period
Dividends of surplus
Profit (loss) attributable to ownersof parent
Purchase of treasury shares
Disposal of treasury shares
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Valuationdifference on
available-forsale securities

Deferred
gains or losses
on hedges

773－

Foreigncurrencytranslation
adjustment(1,149)Remeasurementsof defined
benefit plans

Total accumulated
othercomprehensive
income

397

21

Total
net assets
32,274
(987)
(489)
(500)
1

385

(70)

652

876

1,844

1,844

385
1,159

(70)
(70)

652
(497)

876
1,274

1,844
1,866

(131)
32,14310

(4) Consolidated Statements of Cash Flows(Million yen)
For the fiscal year ended
March 31, 2023
Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Impairment losses
Increase (decrease) in provision for bonuses
Increase (decrease) in valuation reserve for inventory
purchase commitments
Increase (decrease) in provision for retirement benefits for
directors (and other officers)
Increase (decrease) in provision for share awards for
directors (and other officers)
Increase (decrease) in net defined benefit asset andliability
Interest and dividend income
Interest expenses
Loss (gain) on sale of investment securities
Loss (gain) on sale of non-current assets
Loss (gain) on valuation of investment securities
Loss on retirement of non-current assets
Loss (gain) on investments in investment partnerships
Extra retirement payments
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Decrease (increase) in accounts receivable - other
Increase (decrease) in accounts payable - other
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Income taxes refund
Extra retirement payments
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Loan advances
Proceeds from collection of loans receivable
Other
Net cash provided by (used in) investing activities

For the fiscal year ended
March 31, 2024

1,906
2,884
517
(153)

(53)
2,451
562
(33)

－

103

(41)

0

2

(1)

(294)

(187)

(115)
173
(2)
(18)
25
76
263

(167)
156
(273)
(183)
1
72
112
102
1,321
1,440
(1,209)
78
(20)
(92)
4,180
169
(169)
(387)
28
(102)
3,719

－

564
(160)
(1,180)
28
(9)
(442)
4,021
116
(177)
(388)
19
－

3,591
(35)
31
(1,945)
22
(19)
(20)
7
(11)
28
－

(1,944)

11

(52)
48
(2,379)
260
(58)
(87)
634
(8)
23
2
(1,617)

(Million yen)
For the fiscal year ended
March 31, 2023
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Purchase of treasury shares
Proceeds from sale of treasury shares
Dividends paid
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

200
2,700
(2,826)
(496)
(1)
0
(438)
(862)
(375)
409
8,505
8,915

12

For the fiscal year ended
March 31, 2024
2,200
3,300
(3,991)
(504)
(498)
－
(984)
(478)
(341)
1,282
8,915
10,197

(5) Notes to Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Segment information, etc.)(Segment information)
1. Overview of reportable segments
The Group’s reportable segments are units composing the Company for which separate financial
information is available and are the subject of regular review by managers to determine the allocation ofmanagement resources and evaluate performance.
The Group has established business divisions by product, and each division formulates comprehensive
domestic and overseas strategies for the products it handles and develops business activities.
Therefore, the Group consists of segments based on the business divisions.
(CS (Connection System) Division)
Manufacture and sale of connectors (coaxial, board-to-board, FPC) and jacks(SCI (Sensing, Communications and Interface) Division)
Manufacture and sale of remote control units, switches, camera modules, and touch sensors(Research & Development Center)
Manufacture and sale of wireless modules and NFC antennas
2. Method of calculating amounts of net sales, profit (loss), assets, liabilities and other items by reportable segment
Profit by reportable segment is based on operating profit.

13

3. Information on amounts of net sales, profit (loss), assets, liabilities and other items by reportable segment
For the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(Million yen)
Reportable segment
SCI (Sensing,CS
Communicati Research &(Connection
ons andDevelopment
System)Interface)CenterDivision
Division

Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers
Total
Segment profit (loss)(Operating profit)
Segment assets

Others(Note 1)

Total

Amountrecorded in
Adjustment
Consolidated(Note 2)
Statements ofIncomeTotal

19,99734,482339

54,81923

54,842

─

54,842

―

―

―

―

―

─

─

―

19,99734,482339

54,81923

54,842

─

54,842

894

393

(160)

1,127

1

1,128

─

1,128

11,80520,007334

32,147

6,642

38,79017,57456,365

OthersDepreciation
1,648
1,059
4
2,712
171
2,884
─
2,884
Increase of Property,
plant and equipment,
1,446
653
1
2,101
47
2,149
─
2,149
and Intangible assets(Notes) 1. The “Others” are business segments not included in the reportable segments. It includes other parts, leasing, property
rental and worker dispatch businesses.
2. Adjustment of segment assets of ¥17,574 million is corporate assets that are not allocated to each reportable segment.

For the fiscal year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(Million yen)
Reportable segment
SCI (Sensing,CS
Communicati Research &(Connection
ons andDevelopment
System)Interface)CenterDivision
Division

Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers
Total
Segment profit (loss)(Operating profit)
Segment assets

Others(Note 1)

Total

Amountrecorded in
Adjustment
Consolidated(Note 2)
Statements ofIncomeTotal

20,58625,536387

46,51011

46,522

─

46,522

―

―

―

―

―

─

─

―

20,58625,536387

46,51011

46,522

─

46,522

1,095(2,145)(184)(1,234)(9)(1,243)

─(1,243)

12,447

18,335387

31,171

6,628

37,79920,64458,444

OthersDepreciation
1,478
786
11
2,276
174
2,451
─
2,451
Increase of Property,
plant and equipment,
1,035
1,082
9
2,127
163
2,290
─
2,290
and Intangible assets(Notes) 1. The “Others” are business segments not included in the reportable segments. It includes other parts, leasing, property
rental and worker dispatch businesses.
2. Adjustment of segment assets of ¥20,644 million is corporate assets that are not allocated to each reportable segment.

14

(Per share information)

Net assets per share

For the fiscal year
ended March 31, 2023
¥4,932.86

For the fiscal year
ended March 31, 2024
¥5,070.15¥209.12¥(75.00)

Basic earnings (loss) per share
Notes:

1. The company’s own shares in the Board Benefit Trust (BBT) recorded as treasury shares under shareholders’ equity
are included in treasury stock excluded from the total number of shares issued and outstanding at the end of periodused for calculating net assets per share and are also included in treasury stock excluded from the calculation of theaverage number of shares outstanding during the period used for calculating profit per share. The number of shares oftreasury stock at the end of period excluded from the calculation of net assets per share was 41,200 shares for the
fiscal year ended March 31, 2023 and 40,800 shares for the fiscal year ended March 31, 2024. The average number ofshares of treasury stock during the period excluded from the calculation of profit per share was 41,958 shares for the
fiscal year ended March 31, 2023 and 40,917 shares for the fiscal year ended March 31, 2024.
2. Diluted earnings per share is not provided as there were no potential shares.
3. The basis of calculation of basic earnings per share is as follows:

Item

For the fiscal year
ended March 31, 2023

For the fiscal year
ended March 31, 2024

1,334

(489)

―

―

1,334

(489)

6,382

6,525

Profit (loss) attributable to owners of parent(Million yen)Amount not attributable to common shareholders(Million yen)
Profit (loss) attributable to owners of parent
relating to common shares (Million yen)
Average number of common shares outstanding
during the period (Thousand shares)15

4. Other Information(1) Status of Production, Orders Received and Sales
1) Orders received(Million yen)
For the fiscal year
ended March 31, 2023

Market

For the fiscal year
ended March 31, 2024

ChangeICT

6,915

Contribution
(%)
13.5

7,668

Contribution
(%)
17.6

752

Change(%)
10.9

Home appliance

20,39240.0

16,32637.4(4,066)(19.9)

Car electronics

19,561

38.3

15,82536.3(3,735)(19.1)

Industry and other

4,172

8.2

3,833

8.8

(339)

(8.1)

Total

51,042100.0

43,653100.0(7,389)(14.5)

AmountAmountAmount2) Sales(Million yen)
For the fiscal year
ended March 31, 2023

Market

For the fiscal year
ended March 31, 2024

7,946

Contribution
(%)
14.5

Home appliance

21,182Car electronics

20,879Amount
ICT

Change7,908

Contribution
(%)
17.0

38.6

17,50038.1

16,599Amount(38)

Change
(%)
(0.5)

37.6

(3,681)(17.4)

35.7(4,279)(20.5)

AmountIndustry and other

4,834

8.8

4,513

9.7

(320)

(6.6)

Total

54,842100.0

46,522100.0(8,320)(15.2)(2) Changes in Officers
1) Change of representative
Not applicable.

2) Changes of other officers (Effective on June 25, 2024)
1. Candidates for new Auditor
Full-Time Auditor
Kohei Ohgaki (currently, Executive Vice President, CFO, Transnational Financial and Accounting Division,
Financial Planning Department and Public Relations Office)

2. Auditor scheduled to resign
Full-Time Auditor (Outside)
Morikazu Fukui

3. Vice Presidents to be newly appointed

16

Vice President, Transnational SCI Business Division and SCI Business Department (General Manager)
Takashi Ito (currently General Manager of SCI Business Department)

Vice President, CFO, Transnational Financial and Accounting Division, Financial Planning Department (General
Manager) and Public Relations Office
Itaru Kitahira (currently General Manager of Financial Planning Department)

4. Vice President scheduled to resign
Executive Vice President, CFO, Transnational Financial and Accounting Division, Financial Planning Department
and Public Relations Office
Kohei Ohgaki (scheduled to be appointed to Full-Time Auditor)

17