2025.3 First-Quarter Results

July 31, 2024

Enplas Corporation(TSE: 6961)

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AgendaFinancial Results• 2025.3 First-Quarter Results• Change in Cost Allocation Policy for Business Segments• 2025.3 Financial Forecast

Business Overview• Overview and Forecast for Each Business Segment• Cash Allocation (Reference)

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2

Financial Results

Copyright ©2024 ENPLAS CORPORATION, All rights reserved32025.3 First-Quarter Financial Results

Sales
COGS Ratio
Operating Income
Ordinary IncomeProfit attributable toowners of parent
Earnings Per Share
Average Foreign Exchange rate(US$)

2024.32025.3

1Q Results

1Q Results（Million yen）

Change(Reference)
1st Half Plan

9,715

10,601+9.1%

19,500

53.2％

50.9％

-2.3pt

53.6％

1,412
1,681
735

2,153
2,334
1,518

+52.5%+106.3%

2,700
2,800
1,900

83.42yen

172.00yen+88.58yen

215.21yen

138.11yen

156.51yen+18.40yen+38.8%（Planned rate）

145.00yen

FX sensitivity (US$): Sales Approx. 200 million yen/year, Operating income Approx. 150 million yen/yearCopyright ©2024 ENPLAS CORPORATION, All rights reserved42025.3 First-Quarter Ordinary Income Analysis<2025.3 1Q vs. 2024.3 1Q>
Changes innon-operating
gain & loss

Improved
COGS ratio（Million yen）

Cost reduction
in SGA

Sales
increase

2024.3 1Q
Ordinary income

2025.3 1Q
Ordinary income
Copyright ©2024 ENPLAS CORPORATION, All rights reserved5Change in Cost Allocation Policy for Business Segments
Enplas has changed the R&D expenses allocation to more appropriately reflect
our business result of each segment.
Details of the Change• R&D expenses for new business, which were included in Life Science Segment, are now
allocated to all business segments based on sales ratio.
Reasons for the Change• All R&D expenses of new business were recorded as Life Science segment, because thebusiness field of Life Science was broadly defined until 2024.3.
• We shift Life Science business to more profitable business by focusing its business field
since 2025.3.
• R&D expenses for new business are expected to increase in other segments and these areallocated to all segments based on sales ratio.
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62025.3 First-Quarter Results by Segment
2024.3 1Q Result
Before policy change

Semiconductor

4,674

4,674

4,570

-2.2％

COGS Ratio

50.3%

50.3%

49.8%

-0.5ptOperating
Income

852
608

762
608

719
766

-5.7％

+26.0％COGS Ratio

63.9%

63.9%

57.4%

-6.5ptOperating
Income-356
1,443-182
1,443

115
1,705

+18.2％COGS Ratio

23.5%

23.5%

19.9%

-3.6ptOperating
Income

782
2,989

755
2,989

1,065
3,558

+41.1％COGS Ratio

70.0%

70.0%

65.7%

-4.3ptOperating
Income13376253+232.0％

Sales

DigitalCommunication

Sales

Energy Saving
Solution

Difference fromafter policy change

Sales

Sales

Life Science

After policy change

2025.3
1Q Results（Million yen）

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7

Quarterly Results（Million yen）

2024.32025.3

1Q

2Q

3Q

4Q

Sales

9,715

9,484

8,753

9,851 10,601

COGS Ratio

53.2％

53.9％

54.8％

58.1％

50.9％

Operating Income

1,412

1,204938

1,090

2,153

Ordinary Income

1,681

1,414775

1,392

2,334735

1,062

485

1,159

1,518

83.42yen

120.39yen

54.98yen

131.35yen

172.00yen

Profit attributable toowners of parent
Earnings Per Share

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1Q

8Quarterly Results＜Sales＞（Million yen）

10,981＜Operating Income＞（Million yen）

11,172
2,709

10,601
10,115

9,970

9,715

9,851

2,397

9,484
8,753

2,153

1,958
1,755

1,412
1,204

1,090
938

1Q

2Q

3Q

2023.3

4Q

1Q

2Q

3Q

2024.34Q

1Q

2025.3

1Q

2Q

3Q

2023.3Copyright ©2024 ENPLAS CORPORATION, All rights reserved

4Q

1Q

2Q

3Q

2024.34Q

1Q

2025.39

Reference: Quarter Results by Segment（Million yen）

2024.3*

Semiconductor

1Q

2Q

3Q

4Q

2025.3
1Q

Sales

4,674

4,013

3,422

4,566

4,570

COGS Ratio

50.3%

54.8%

56.5%

59.3%

49.8%

Operating
Income

762
608

320
652

40593

336
514

719
766

COGS Ratio

63.9%

62.0%

55.4%

58.1%

57.4%

Operating
Income-182
1,443-155
1,529-90
1,424-125
1,239

115
1,705

COGS Ratio

23.5%

21.8%

22.7%

23.4%

19.9%

Operating
Income

755
2,989

830
3,289

754
3,313

682
3,530

1,065
3,558COGS Ratio

70.0%

66.1%

66.6%

68.6%

65.7%

Operating
Income76208

233

196253

SalesLife ScienceSalesDigitalCommunication

Sales

Energy Saving
Solution*Operating Income of 2024.3 was calculated by revised R&D cost allocation policy.
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10

Financial Results Overview
2025.3 First-Quarter Financial Results◼Summary•

Although Semiconductor business remained weak, YoY sales and profit increased due to strong performance in othersegments.
(Sales +9.1%, Operating Income +52.5％, Profit attributable to owners of parent +106.3％)◼Segment<Semiconductor business>• Sales decreased due to delay of demand recovery for general purpose server applications and customers’ inventory
adjustments for automotive applications.
• The recovery of adjustments has been slower than initially expected, but the demand is expected to increase in the mediumterm.
<Life Science business>•Temporary sales increase in 1Q due to sales for the launch of new mass-produced products.

•Customers’ production adjustments are expected to be prolonged.

<Digital Communication business>• Optical communication business has maintained high market share in AI applications.
• Sales increased due to partial resolution of components shortage in the optical transceiver supply chain in the 2024.3 4Q.
<Energy Saving Solution business>• Sales increased due to automotive market growth and expansion of low-noise and high-efficiency gear solution business forautomotive electrification.
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Financial Results Overview➢ SGA（Million yen）

2024.3 1Q

2025.3 1Q

Change

3,132

3,053

-79

➢Labor cost: -61➢Traveling and transportation expenses: -27➢ Non-operating profit and loss（Million yen）

2024.3 1Q

2025.3 1Q

Change

269

181

-88

➢FX gain: 78 (FX gain for 2024.3 1Q: 189)

➢ Extra-ordinary profit and loss（Million yen）

2024.3 1Q

2025.3 1Q

Change-268

-192

+76

2025.3 1Q➢Business restructuring expenses: 204
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122025.3 Financial Forecast

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Assumptions for 2025.3 Financial Forecast
Consolidated financial forecast• Planned FX rate (US$): 145.00 yen (Unchanged from financial forecast as of April 30, 2024)• The forecast of 1st half is revised upward due to strong performance in 1Q.
• The forecast for full business year is not changed except for upward revision of 1st half.
The forecast of each segment is described in “Overview and Forecast for Each Business Segment”(see slide 18 to 23).

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142025.3 Financial Forecast（Million yen）

2025.32025.3 (As of April)

2025.3 (Revised)

1Q Results

1st Half

Full-year

1st Half

Full-year

10,601

19,50041,00020,00041,50050.9％

53.6％

53.5％

52.9％

53.2％

Operating Income

2,153

2,700

6,200

3,100

6,600

Ordinary Income

2,334

2,800

6,500

3,300

7,000

Profit attributable toowners of parent

1,518

1,900

4,500

2,200

4,800

Net Income Per Share

172.00yen

215.21yen

509.71yen

249.19yen

543.69yen

Dividends Per Share-30.00yen

60.00yen

30.00yen

60.00yen

Net Sales
COGS Ratio*Planned FX rate (US$): 145.00 yen (Unchanged from the financial forecast as of April 30, 2024)
Copyright ©2024 ENPLAS CORPORATION, All rights reserved152025.3 Financial Forecast by Segment（Million yen）

2025.3 (As of April)
1st Half

Full-year

2025.3 (Revised)
1st Half

Full-year

Semiconductor

8,800 19,000

8,300 18,500

Life Science

1,200

2,500

1,500

2,800

DigitalCommunication

2,900

5,900

3,000

6,000

Energy Saving
Solution

6,600 13,600
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7,200 14,20016

Reference: 2025.3 forecast for Capital Expenditures, Depreciation, R&D（Million yen）

2024.32025.32025.3Full-year Results

1Q Results

Full-year

4,014

719

7,000

28303,800

Investment in Growth Area

2,3002761,700

Other Capital Expenditure

1,431

443

1,500

Depreciation

2,385

598

2,500

R&D

1,343

340

1,600

Capital expenditures
Long-Term/ Environmental Investment*Unchanged from the financial forecast as of April 30, 2024.
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17Overview and Forecast for Each Business Segment

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18

Semiconductor Business
Overview

Forecast◼ Although the adjustment in semiconductor demand has lasted longer than initially expected,
demand for servers and automotive applications, on which Enplas is focusing, is expected toincrease in the medium term.
◼ Advance R&D investment regarding test socket for future growth.
◼ 1Q Sales decreased due to delay of demand recovery for general purpose server applications
and customers’ inventory adjustments for automotive applications.
◼ Although delay of demand recovery in general purpose server, sales are expected to bottom out in 2Q
and increase in 2nd half.

＜Sales＞（Million yen）

＜Operating Income＞（Million yen）

6,448
5,662

5,983
1,946

5,337
4,674

4,567

1,672

4,570

1,454

4,013

1,439

3,422852

719
397

1Q

2Q

3Q

2023.3

4Q

1Q

2Q

3Q

2024.34Q

1Q

2025.3

1Q

2Q

3Q

2023.3

4Q

1Q

2Q

91
3Q

2024.3402
4Q

1Q

2025.3*Results of 2023.3 and 2024.3 do not reflect policy change.
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19Life Science Business
Overview◼ In genetic testing, customers' inventory adjustments are expected to be prolonged.
◼ Temporary sales increase in 1Q due to sales for the launch of new mass-produced products.

Forecast◼ Although customers’ production adjustments will continue for the time being, sales are expected toexceed those of 2024.3 due to the launch of new mass-produced product.

＜Sales＞（Million yen）

＜Operating Income＞（Million yen）

952
115

790

782

766
565

608

651

-107

593

-57-93513-212-258
-380

1Q

2Q

3Q

2023.3

4Q

1Q

2Q

3Q

2024.34Q

1Q

2025.3

1Q

2Q

3Q

2023.3

4Q

-356
1Q

-324

2Q

3Q

2024.34Q

1Q

2025.3*Results of 2023.3 and 2024.3 do not reflect policy change.
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Life Science Business: Actions to become profitable<2025.3 1Q vs. 2024.3 4Q >（Million yen）

Salesincrease

Improved
COGS ratio

Cost reduction
in SGA

Effect of policychange
Before policy change
2024.3 4Q
Operating income

2025.3 1Q
Operating income
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Digital Communication BusinessOverview◼ Optical communication business has maintained high market share in AI applications.
◼ Sales increased due to partial resolution of components shortage in optical transceiver supply chain.
◼ In LED diffusion lens, sales declined due to lower demand of LCD TV.

Forecast◼ Sales of optical communication business in 2025.3 is expected to perform in line with initial plan,although a rebound increase due to the resolution of components shortage in 1Q is expected to beabsent in 2Q.
◼ Sales of LED diffusion lens are expected to decrease from 2Q due to continued weak demand in
LCD TV market.

＜Sales＞（Million yen）
Optical fiber lens

LED diffusion lens

1,443

940

906

519

398

967

965

359

282

508

608

683

421
1Q

2Q

3Q

4Q

2023.3416

1,529404＜Operating Income＞（Million yen）

1,705

1,424
261

1,239

1,065372860
782

776
700

296

1,027

1,125

1,163

1Q

2Q

3Q

2024.3

1,333
943

4Q

1Q

2025.3

356

384

1Q

2Q

439

407

3Q

4Q

2023.3

1Q

2Q

3Q

2024.34Q

1Q

2025.3*Results of 2023.3 and 2024.3 do not reflect policy change.
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22

Energy Saving Solution Business
Overview◼ Sales increased due to automotive market growth and expansion of low-noise and high-efficiency
gear solution business for automotive electrification.

Forecast◼ Sales of automotive components are expected to continue as high as 1Q while automotive market
remained in good shape.

＜Sales＞

3,138（Million yen）

2,974

3,101

3,289

3,313

3,530

＜Operating Income＞

3,558

398

（Million yen）

416

2,989

2,722

289
254

271

282

2Q

3Q

247

253

4Q

1Q

133

1Q

2Q

3Q

2023.3

4Q

1Q

2Q

3Q

2024.34Q

1Q

2025.3

1Q

2Q

3Q

2023.34Q

1Q

2024.32025.3*Results of 2023.3 and 2024.3 do not reflect policy change.
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Reference: Cash Allocation
Prioritize investments in new business, creating innovation and growth areas
Cash on Hands

Cash on hands After Investment

9,000 to 15,000 million yen

Cash flows fromOperating Activities

Investment items

Transition to more essential areas➢ Semiconductor➢ Life Science➢ Optical fiber lens⇒Aim market growth + αCash Flows fromOperating Activities

Enhancing
Corporate Value

Foundation Business

21,000million yen

ROE10% or more

➢ LED diffusion lens
➢ Energy Saving Solution⇒Improve profitability
by boost productivity andtransform its business category(Total of last three years)

Investment

29,000to 35,000
million yen（3 years total*）

New business / Creating Innovation
Environmental Investment(16,000 to 18,000 million yen)
➢ Innovation Center (in Saitama Shintoshin)➢ Reduction of environment impact⇒Enhancing Corporate Value for the future

Investment in Growth area
7,000 to 10,000 million yen➢ Essential Business Field➢ IT System⇒Profitability Improvement

Dividend Policy: Stable Dividend

Other Capital expenditures（6,000 to 7,000 million yen）
➢ Mold Investment➢ Replace aging equipment⇒Productivity Improvement*3 years total：2025.3 to 2027.3
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Reference: Construction of New Building (Innovation Center)・Transform our Business Model to “Solution Provider”
・Create Sustainable Value in Essential Business Fields
・Cultivate Corporate Culture “Pursuing Novelty”
Outline of New Building
１．Realization of functional evaluation thatreaches customer issues• Adapt to various development themes by renovating laboratory
layout• Establish co-creation environment by concentrating humanresources and infrastructure

２．Workplace improvement

Conceptual Drawing• Improve human capital through experience of a wide range ofprojects, learning knowledge, technology and people in various fields• Minimize BCP Risk and Reduce energy consumption• Strengthen competitive advantage for recruitment

３．Planned Investment Amount• Approx. 15,000 Million Yen
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Enplas Corporation
Financial Results for the First-Quarter of
the Year Ending March 31, 2025

https://www.enplas.co.jp/english/
Any statements in this presentation which are not historical are future projections based on certain assumptions and executive judgments drawn from currently available information.
Please note that actual performance may vary significantly from any particular projection due to various factors.
Factors affecting our actual performance include but are not limited to: (i) changes in economic conditions or demand trends related to Enplas’s business operations; (ii) fluctuation offoreign exchange rates or interest rates; and (iii) our ability to continue R&D, manufacturing and marketing in a timely manner in the electronics business sector, where technologicalinnovations are rapid and new products are launched continuously.
All the information in this document is the property of Enplas Corporation. All parties are prohibited, for whatever purpose, to copy, modify, reproduce, transmit, etc. this information
regardless of ways and means without prior written permission of Enplas Corporation.
The official version of this announcement was published in Japanese. An unofficial English translation is provided for the convenience of overseas investors. For any discrepancies
between the Japanese and English versions, the Japanese version shall prevail.
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