Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results for the Fiscal Year Ended March 31, 2024

(Based on Japanese GAAP)
April 26, 2024
Socionext Inc.
Stock exchange listing: Tokyo
6526
URL: https://www.socionext.com/en/
Masahiro Koezuka, Representative Director, Chairman, President and CEO
Hiromasa Nakajima, General Manager, Public Relations & Investor
Contact person:
Tel: +81-45-568-1000
Relations Office
Scheduled date to commence dividend payments:
June 05, 2024
Scheduled date of ordinary general shareholders’ meeting:June 26, 2024
Scheduled filing date of Securities Report:
June 27, 2024
Supplementary material:
Yes
Financial results presentation:
Yes (for institutional investors and analysts)
Company name:
Code number:
Representative:(Monetary amounts are rounded to the nearest millions of yen)
1. Consolidated financial results for the fiscal year ended March 31, 2024 (From April 1, 2023 to March 31, 2024)(1) Consolidated financial results(Percentage represents change from the same period of the previous fiscal year)
Net sales

Operating income

Profit attributable to owners ofparentOrdinary income

Fiscal year ended

millions of yen%

millions of yen%

millions of yen%

millions of yen%

March 31, 2024

221,246

14.8

35,51063.6

37,122

58.4

26,13432.2

March 31, 2023

192,767

64.7

21,711

156.5

23,440159.0

19,763

164.2

Note:
Comprehensive income:For the fiscal year ended March 31, 2024:
For the fiscal year ended March 31, 2023:

Basic earnings per share
Fiscal year ended
March 31, 2024
March 31, 2023

27,334 million yen (34.9%)
20,255 million yen (151.9%)

Diluted earnings per shareYen
148.39117.40Yen
144.80111.49Return on equity

Ordinary incomeon assets

Operating Margin

%
19.5
15.0

%
16.1
11.3

%
21.7
19.8

Notes:
1. The Company implemented a stock split on January 1, 2024 at a ratio of 1 common stock to 5 shares. Basic earnings per shareand diluted earnings per share are computed based on the assumption that the stock split was implemented at the beginning of theyear ended March 31, 2023.
2. As the Company was listed on the Tokyo Stock Exchange Prime Market on October 12, 2022, diluted earnings per share for the
fiscal year ended March 31, 2023 is computed by deeming the average stock price during the period from the listing date toMarch 31, 2023 as the average stock price during the fiscal year.
(2) Consolidated financial position
Total assets
As ofMarch 31, 2024
March 31, 2023

millions of yen
186,840
193,945

Reference: Shareholder’s equity: As of March 31, 2024:

Net assets
millions of yen
131,020
109,864
131,020 million yen

Shareholders’ equity ratio

Net assets per share

%
70.1
56.6

Yen
732.76652.59As of March 31, 2023: 109,852 million yen

Note：The Company implemented a stock split on January 1, 2024 at a ratio of 1 common stock to 5 shares. Net assets per share iscomputed based on the assumption that the stock split was implemented at the beginning of the year ended March 31, 2023.

(3) Consolidated cash flows
Net cash provided byoperating activities
Fiscal year ended
March 31, 2024
March 31, 2023

Net cash used ininvesting activities

millions of yen
52,88218,019Net cash used infinancing activities

millions of yen(23,155)(19,725)

Cash and cash equivalents
at the end of the fiscal year

millions of yen(6,624)(333)

millions of yen
69,73845,136

2. Dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end
Fiscal year ended/ending
March 31, 2023
March 31, 2024

Total dividends

Total

yen
-

yen
0.00
115.00yen-

yen
210.0025.00

yen
210.00
-

-

25.00

-

25.00

50.00

March 31, 2025(Forecast)

Dividends on
net assets(Consolidated)
%
%
35.8
7.1
32.3
6.9

Payout ratio(Consolidated)

millions of yen
7,070
8,557

45.8

Note: Revision of the latest dividends forecast: Yes
The Company implemented a stock split on January 1, 2024 at a ratio of 1 common stock to 5 shares. Dividends for fiscal year
ended March 31, 2023 and 2nd quarter of fiscal year ended March 31, 2024 are presented in actual value terms on a pre-split
basis. The total annual dividend per share is presented as “-” considering the effect of the stock split. The total annual dividend
per share for the fiscal year ended March 31, 2024 is 48.00 yen after the stock split. For further details, please refer to “NoticeRegarding the Revision of the Dividend Forecast” announced today (April 26, 2024).
3. Consolidated earnings forecast for the fiscal year ending March 31, 2025 (From April 1, 2024 to March 31, 2025)(Percentage represents change from the same period of the previous fiscal year)
Net sales
Fiscal Year ending
March 31, 2025

millions of yen

200,000

Operating income% millions of yen(9.6)

27,000

Profit attributable toowners of parent

Ordinary income% millions of yen(24.0)

27,000% millions of yen(27.3)

19,500

Basic earnings per share%yen(25.4)

109.13※ Notes(1) Changes in significant subsidiaries during the current reporting period(Changes in specified subsidiaries resulting from changes in the scope of consolidation):No(2) Changes in accounting policies, accounting estimates and retrospective restatements for consolidated financial statements
No① Changes in accounting policies due to revisions of the accounting standards and other regulations:No② Changes arising from factors other than ①:No③ Changes in accounting estimates:
No④ Retrospective restatements:(3) Number of issued shares (Common stock)① Number of shares issued at the end of theperiod (including treasury stock)

Fiscal year ended② Number of treasury stock held at the endof the period

Fiscal year ended③ Average number of shares during the period

March 31, 2024
March 31, 2024
Fiscal year ended
March 31, 2024

178,687,405
788
176,119,044

Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2023

168,333,330
168,333,330

Note: The Company implemented a stock split on January 1, 2024 at a ratio of 1 common stock to 5 shares. “Number of shares issued
at the end of the period” and “Average number of shares during the period” are computed based on the assumption that the stock
split was implemented at the beginning of the year ended March 31, 2023.

(Reference) Non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2024 (From April 1, 2023 to March 31, 2024)(1) Non-consolidated financial results(Percentage represents change from the same period of the previous fiscal year)
Net sales
Fiscal year ended
March 31, 2024
March 31, 2023

millions of yen
220,245
191,830

Operating income
%
14.8
65.2

Basic earnings per share

millions of yen
33,98018,986

%
79.0
181.5

millions of yen
36,64921,393

%
71.3
175.2

millions of yen
26,311
18,078

%
45.5
178.6

Diluted earnings per shareyen
149.40107.40Fiscal year ended
March 31, 2024
March 31, 2023

ProfitOrdinary incomeyen
145.79101.99Notes:
1. The Company implemented a stock split on January 1, 2024 at a ratio of 1 common stock to 5 shares. Basic earnings per shareand diluted earnings per share are computed based on the assumption that the stock split was implemented at the beginning of theyear ended March 31, 2023.
2. As the Company was listed on the Tokyo Stock Exchange Prime Market on October 12, 2022, diluted earnings per share for the
fiscal year ended March 31, 2023 is computed by deeming the average stock price during the period from the listing date toMarch 31, 2023 as the average stock price during the fiscal year.
(2) Non-consolidated financial position
Total assets
As ofMarch 31, 2024
March 31, 2023

millions of yen
173,962
184,664

Net assets

Shareholders’ equity ratio

millions of yen
123,485
103,351

%
71.0
56.0

Net assets per shareyen
690.60613.90

Reference: Shareholder’s equity: As of March 31, 2024: 123,485 million yen As of March 31, 2023: 103,339 million yen

Note: The Company implemented a stock split on January 1, 2024 at a ratio of 1 common stock to 5 shares. Net assets per share iscomputed based on the assumption that the stock split was implemented at the beginning of the year ended March 31, 2023.
※ These fiscal consolidated financial results are not subject to the audit procedure of external audit.
※ Explanation of the proper use of earnings forecast and other special notes
These materials may contain forward-looking statements that are based on management’s current information, actual results may
differ materially from these forward-looking statements for various reasons. For information regarding the assumptions used toprepare the forecast and cautionary note of the forecast, please refer to “1. Overview of operating results (4) Outlook” on page 4 formore details.

Attachment contents
1. Overview of operating results ………………………………………………………………………………………………...

2(1) Overview of operating results for the fiscal year ended March 31, 2024…………………………………………………

2(2) Overview of financial position for the fiscal year ended March 31, 2024………………………………………………...

3(3) Overview of cash flows for the fiscal year ended March 31, 2024………………………………………………………..

4(4) Outlook……………………………………………………………………………………………………………………

4

2. Basic policy regarding 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

Consolidated statements of income…………………………………………………………………………………...

7

Consolidated statements of comprehensive income…………………………………………………………………..

8(3) Consolidated statements of changes in net assets…………………………………………………………………………

9(4) Consolidated statements of cash flows ……………………………………………………………………………………

11(5) Notes to consolidated financial statements…………………………………………………………………………….….

12

Assumptions of a going concern…………………………………………………………………………………………

12

Segment information………………………………………………….………………………….………………………

12

Per share information……………………………………………….………………………….………………………...

12

Subsequent Events………………………………………………….………………………….………………………...

13

- 1 -

1. Overview of operating results(1) Overview of operating results for the fiscal year ended March 31, 2024
The global economy has continued to slow down during the fiscal year ended March 31, 2024, due to increased global instability,
exacerbated by factors such as the prolonged Russian invasion of Ukraine and escalation in Middle East tensions. Strong inflationarypressures and persistently high interest rates primarily in Europe and the U.S., as well as stagnant domestic demand in China haveresulted in a drag on economic activity. Therefore, the global economic environment remains high uncertain, and growth rates haveremained low compared to the past. Furthermore, differences in monetary policies among countries and regions have resulted in acontinuous depreciation of the Japanese yen.
The semiconductor market continued to experience weak demand due to inventory adjustments of end products starting in the second
half of the previous fiscal year ended March 31, 2023, and bottomed out in the first half of the current fiscal year ended March 31,
2024. Although there were signs of gradual recovery in the second half of the fiscal year ended March 31, 2024 across thesemiconductor market, the annual results showed a single-digit decline. In terms of products, the Logic ICs that the Group (“theGroup”, “the Company”, “we” and “our” refer to Socionext Inc., and its consolidated subsidiaries, or Socionext Inc. on a nonconsolidated basis, as the context may require) focused on experienced positive growth, despite a downturn in most categories
especially memory chips and microprocessors, compared to the previous fiscal year. In terms of applications, although demand for end
products, primarily in smartphones and PCs, has declined, we have observed growth in our focus areas, particularly in data center &networking as well as automotive. Moreover, there has been a resilient increase in demand for semiconductors using cutting-edge
technologies in these areas.
The Group has been acquiring more design wins in our focus areas including automotive, data center & networking, and smart
devices. This success is due to the transformation of our business model, shift of focus areas to high-growth and cutting-edge businessareas where more global large-scale business is expected, as well as structural reform including bold transformation in businessstructure, all implemented by current CEO since his appointment in April 2018 (which we refer to as phase 1 transformation). Throughthe transformation, we have acquired design wins amount of roughly 200 billion yen during each of the fiscal years ended March 31,
2020, 2021 and 2022, an increase from the design win amount of roughly 100 billion yen for the fiscal year ended March 31, 2019.
From the fiscal year ended March 31, 2023, we have been further achieving design wins amount of 250 billion yen. Moreover, we arealso proceeding with our next stage of transformation, which we call phase 2 transformation. This phase aims to establish acompetitive R&D structure and create a dynamic business culture as a multinational company. We are intensifying our efforts totransform our corporate systems, organizational structures, and employee awareness through ongoing communication with global
customers, players in the semiconductor ecosystem and investors.
Additionally, we established the Global Leading Group in April 2023, aiming to create a structure tasked with large-scale advanced
technology model projects, serving as a competitive R&D platform. We have been continuously improving by integrating several key
activities: establishing a computer-architecture-based design and development platform as well as standard design and development
processes suitable for our Solution SoC business model, enhancing both the efficiency and visibility of these processes, alongsidereforms in design and development management. Moving forward, we will continue to actively enhance our development of advanced
technologies. Moreover, we have opened the new branch office in Bangalore, India, under our subsidiary Socionext America Inc. inAugust 2023 to strengthen our global design and development capabilities.
We have integrated the related organizations of the production planning, control and supply chain management in Taiwan and Japan toenhance our global production and procurement system. Given the concentration of suppliers in Taiwan, we have allocated a
production control team there to establish a direct interface and strengthen our coordination with these suppliers. As a result, we havebeen developing a structure that allows us to respond swiftly to any changes in manufacturing capacities of our manufacturing
partners.
With acquired design wins of large-scale advanced development projects over the past few years, we have strengthened ourrelationships with global companies that form the ecosystem across the semiconductor industry. We have particularly made progress injoint development projects in advanced technology areas by establishing and enhancing management-level relationships with global
companies headquartered in North America and Taiwan.
Our research and development costs consist of both upfront investments in advanced technologies for acquiring design wins in our
focus areas and investments in product development linked to acquired design wins. For the current fiscal year ended March 31, 2024,
our research and development costs increased by 8.0% to 53,279 million yen, mainly due to products development related withincreasing acquired design wins. Since the ecosystem continues to grow in complexity and flexibly, and to utilize the latest advanced
technologies, we regularly work with multiple partners and actively invest in advanced technologies including 2nm and finer process
nodes, advanced packaging technologies such as chiplet, application of latest EDA tools as well as platformization. In October 2023,
we announced a collaboration with Arm Holdings plc and Taiwan Semiconductor Manufacturing Company Limited (TSMC) on a
project for 2nm multi-core CPU chiplet PoC (proof of concept). In same month, we also announced that we began development of
SoCs for Advanced Driver Assistance Systems (ADAS)/ Autonomous Driving (AD) using 3nm automotive process. We have been
- 2 -engaged in advanced technologies including 2nm or finer process nodes and chiplets as well as in the adoption of AI for design anddevelopment process.
[Net sales](millions of yen)
Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024

Semiconductor products (product revenue)

156,751

182,876

Non-recurring engineering (NRE revenue)

34,86737,609Others

1,149

761

Total

192,767

221,246

The consolidated net sales for the fiscal year ended March 31, 2024 were 221,246 million yen, an increase of 14.8% from the fiscal
year ended March 31, 2023. Our net sales consist of NRE revenue received from customers based on costs incurred in scheduled
milestones during the design and development process, and product revenue from the applicable products which entered the mass
production stage. NRE revenue was 37,609 million yen in the fiscal year ended March 31, 2024, an increase of 7.9% from the fiscal
year ended March 31, 2023. This increase was due to increased proportion of NRE revenue from advanced technologies requiring 7nm
and finer process nodes, derived from active design wins in automotive area. Product revenue increased by 16.7% from the fiscal year
ended March 31, 2023, to 182,876 million yen. This is due to design wins acquired from Calendar Year 2019 have entered the mass
production stage including 7nm products in automotive application market.
Besides, cost of sales for the fiscal year ended March 31, 2024 was 111,243 million yen, an increase of 7.0% from the fiscal year
ended March 31, 2023. Selling, general and administrative expenses were 74,493 million yen, increased by 11.0%, and operating
income was 35,510 million yen, an increase of 63.6% from the fiscal year ended March 31, 2023. Ordinary income was 37,122 million
yen due mainly to foreign exchange gain, increased by 58.4% from the previous fiscal year. Profit attributable to owners of parent was
26,134 million yen, increased by 32.2% from the previous fiscal year. The increase in operating income is due mainly to the rise ingross profit and the improvement in the cost of sales ratio, both related with the increased product revenue.
The depreciation of Japanese yen has led to increases of 11.7 billion yen in net sales, 2.5 billion yen in operating income compared tothe previous fiscal year ended March 31 ,2023. The Japanese yen/U.S. dollar average exchange rate for the fiscal year ended March
31, 2024 was ¥144.6=U.S. $1, a depreciation of ¥9.1 compared to the fiscal year ended March 31, 2023.
The Group has a single segment primarily of SoC developed with the solution SoC business model.
(2) Overview of financial position for the fiscal year ended March 31, 2024
(Assets)
Current assets as of March 31, 2024 decreased by 17,166 million yen from the end of the previous fiscal year ended March 31, 2023 to
138,901 million yen. This is mainly due to the decrease in inventories and accounts receivable-other in accordance with increased
product revenue and decreased customer-requested upfront procurement. Cash on hand and in banks increased due to the accounts
receivable collection and the proceeds from the exercise of stock options.
Non-current assets as of March 31, 2024 increased by 10,061 million yen from the end of the previous fiscal year to 47,939 million
yen. The main capital expenditures in the period include the acquisition of reticles, IP, etc. in connection with product development ofacquired design wins, and the expansion of data centers in accordance with increasing development scale.
As a result, total assets as of March 31, 2024 decreased by 7,105 million yen from the end of the previous fiscal year to 186,840
million yen.
(Liabilities)
Current liabilities as of March 31, 2024 decreased by 29,244 million yen from the end of the previous fiscal year ended March 31,
2023 to 53,094 million yen. This is due mainly to the decrease in accounts payable-trade and accounts payable-other related tocustomer-requested upfront procurement.
As a result, total liabilities as of March 31, 2024 decreased by 28,261 million yen from the end of the previous fiscal year to 55,820
million yen.
(Net assets)
Net assets as of March 31, 2024 increased by 21,156 million yen from the end of the previous fiscal year ended March 31, 2023 to
131,020 million yen. This is due mainly to 26,134 million yen in profit attributable to owners of parent for the fiscal year ended March- 3 -31, 2024 and 4,766 million yen provided by the proceeds from the exercise of stock options.
As a result, the shareholders’ equity ratio has been 70.1%, increased by 13.5 percent points from the end of the previous fiscal year.
(3) Overview of cash flows for the fiscal year ended March 31, 2024
Cash and cash equivalents as of March 31, 2024 increased by 24,602 million yen from the end of the previous fiscal year ended March
31, 2023 to 69,738 million yen.
Net cash provided by operating activities was 52,882 million yen for the fiscal year ended March 31, 2024. This is due mainly to profit
before income taxes of 37,122 million yen, depreciation and amortization of 13,396 million yen, a decrease in accounts receivable of
8,379 million yen in accordance with accounts receivable collection despite the payment of income taxes of 10,739 million yen.
Net cash used in investing activities was 23,155 million yen for the fiscal year ended March 31, 2024. This is due mainly to thepurchases of 11,879 million yen of property, plant and equipment including reticles and test boards for product development for theacquired design wins, and those for improving the environment of design and development, and the purchases of 11,187 million yen of
intangible assets including IP.
Net cash used in financing activities was 6,624 million yen and this is due to payment of the dividends of 11,160 million yen despite
the proceeds from exercise of stock options of 4,766 million yen.
Besides, in response to increasing working capital needs related to increasing product revenue, as well as to address global economic
slowdown and geopolitical risks, the Company entered commitment line agreements of 20,000 million yen. As of March 31, 2024, thecommitment lines of total 20,000 million yen were unused.
(4) Outlook
The Company have acquired more designs wins in focus areas including automotive, data center & networking, as well as smart
devices as a result of business model transformation and shift to growth areas since 2018, and those design wins have beensequentially entering mass production stage from development. We expect consolidated net sales for the next fiscal year ending March
31, 2025 to be 200,000 million yen, a decrease of 9.6% compared to the current fiscal year ended March 31, 2024 due to net sales indata center & networking areas which increased in current fiscal year however are expected to decline. Consolidated operating income
is expected to be 27,000 million yen, with a decrease of 24.0% from the current fiscal year. Profit attributable to owners of parent is
expected to be 19,500 million yen, a decrease of 25.4% from the current fiscal year. The decreases in both operating income and profit
attributable to owners of parent are resulted from the expected decrease in consolidated net sales. Besides, our outlook is based on
foreign exchange assumption of 130 yen per U.S. dollar.
The forecast above may contain forward-looking statements that are based on management’s current information, actual results may
differ materially for various reasons including actual operating conditions and exchange rates fluctuation.

2. Basic policy regarding selection of accounting standards
The Group will prepare consolidated financial documents in accordance with Japanese GAAP, with consideration for comparability
across multiple reporting periods and multiple entities.
We will work on the adoption of International Financial Reporting Standards (IFRS), taking various domestic and internationalsituation into consideration.

- 4 -3. Consolidated financial statements and principal notes(1) Consolidated balance sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash on hand and in banks
Accounts receivable-trade, net
Finished goods
Work in process
Accounts receivable-other
Other current assets
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery and equipment, net
Tools, furniture and fixtures, net
LandConstruction in progress
Total property, plant and equipment, net
Intangible assets
Technology assets
Other intangible assets
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other assets
Total investments and other assets
Total non-current assets
Total assets- 5 -As of March 31, 2024

45,13640,8098,187
39,528
16,2096,198
156,067

69,73835,257
6,090
19,414
2,935
5,467
138,9012,583
8
13,438800
351
17,1803,441
617,318800
235
21,80011,494
1,468
12,962

16,166
2,298
18,464

0
6,897
839
7,736
37,878
193,945

0
6,740
935
7,675
47,939186,840

(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable-trade
Accounts payable-otherAccrued expenses
Income taxes payable
Liabilities related to chargeable subcontracting
Other current liabilities
Total current liabilities
Long-term liabilities
Asset retirement obligations
Other long-term liabilities
Total long-term liabilities
Total liabilities
Net assets
Shareholders' equity
Common stock
Deposits for subscriptions of shares
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustments
Total accumulated other comprehensive income
Share subscription rights
Total net assets
Total liabilities and net assets- 6 -As of March 31, 2024

23,421
24,551
5,755
6,942
18,8692,800
82,33815,764
9,334
8,859
6,817
9,319
3,001
53,094

343
1,400
1,743
84,081

350
2,376
2,726
55,82030,20030,20048,630109,030

32,65685
32,656
63,604(3)
128,998822
822
12
109,864
193,945

2,022
2,022
131,020
186,840

(2) Consolidated statements of income and comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Foreign exchange gain
Other income
Total non-operating income
Non-operating expenses
Other expenses
Total non-operating expenses
Ordinary income
Profit before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
ProfitProfit attributable to owners of parent- 7 -Fiscal year ended
March 31, 2024

192,767
103,92288,845
67,134
21,711

221,246
111,243
110,00374,49335,510

141
1,601
24
1,766

384
1,224
67
1,675

37
37
23,44023,4407,382(3,705)
3,677
19,763
19,76363
63
37,122
37,122
10,694294
10,98826,134
26,134

Consolidated statements of comprehensive income(Millions of yen)
Fiscal year ended
March 31, 2023
ProfitOther comprehensive income
Foreign currency translation adjustments
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:
Owners of parent- 8 -Fiscal year ended
March 31, 2024

19,763

26,134492
492
20,2551,200
1,200
27,334

20,25527,334

(3) Consolidated statements of changes in net assets
For the fiscal year ended March 31, 2023
(Millions of yen)
Shareholders’ equity
Commonstock
Balance as of April 1, 2022

Capitalsurplus30,200Retainedearnings

30,200Total
shareholders’ equity

Treasury stock

28,867-89,267

Changes during the year-

Issuance of new shares
Profit attributable to ownersof parent

19,763

19,763Acquisition of treasury
stock
Cancellation of treasury
stock

(0)

Transfer from retained
earnings to capital surplus

0

(0)

(0)

0

-

(0)

-

Net changes in items otherthan those in shareholders’equity-Total changes during the year--

19,763-

19,763

Balance as of March 31, 2023

30,20030,20048,630-109,030

Accumulated other comprehensive income
Total accumulated
Foreign currency
other comprehensive
translation adjustments
incomeBalance as of April 1, 2022

330

330

Share subscription
rights12

Total
net assets
89,609Changes during the year-

Issuance of new shares
Profit attributable to ownersof parent

19,763Acquisition of treasury
stock

(0)

Cancellation of treasury
stock

-

Transfer from retained
earnings to capital surplus-

Net changes in items otherthan those in shareholders’equity492

492

Total changes during the year

492

492

-

20,255

Balance as of March 31, 2023

822

822

12

109,864

- 9 -

492

For the fiscal year ended March 31, 2024
(Millions of yen)
Shareholders’ equity
Commonstock
Balance as of April 1,
2023

Deposits forsubscriptions ofsharesCapitalsurplus30,200-30,200

2,456

85

2,456

Retainedearnings

Total
shareholders’ equity

Treasury stock

48,630-109,030

Changes during the year
Issuance of new shares

4,997

Dividends paid

(11,160)(11,160)

Profit attributable toowners of parent

26,134

26,134

Acquisition of treasurystock
Net changes in items
other than those inshareholders’ equity
Total changes during theyear
Balance as of March 31,
2024

(3)

2,456

85

2,456

14,974(3)

19,96832,65685

32,656

63,604(3)

128,998

Accumulated other comprehensive income

Balance as of April 1,
2023

Foreign currencytranslation adjustments

Total accumulated
other comprehensive
income822

822

Share subscription
rights12

Total
net assets
109,864

Changes during the year
4,997

Issuance of new shares
Dividends paid

(11,160)

Profit attributable toowners of parent

26,134

Acquisition of treasurystock
Net changes in items
other than those inshareholders’ equity
Total changes during theyear
Balance as of March 31,
2024

(3)

(3)
1,200

1,200

(12)

1,188

1,200

1,200

(12)

21,156

2,022

2,022

-

131,020- 10 -

(4) Consolidated statements of cash flows(Millions of yen)
Fiscal year ended
March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation and amortization
Interest and dividend income
Loss on retirement of non-current assets
Loss (gain) on sale of non-current assets
Decrease (increase) in accounts receivable
Decrease (increase) in inventories
Increase (decrease) in accounts payable
Decrease (increase) in other assets
Increase (decrease) in other liabilities
Other
SubtotalInterest and dividends received
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchases of property, plant and equipment
Purchases of intangible assets
Proceeds from sales of non-current assets
Other
Net cash used in investing activities
Cash flow from financing activities
Repayments of lease obligations
Proceeds from exercise of stock options
Deposits for subscriptions of shares
Proceeds from exercise of share award rights
Purchase of treasury stock
Dividends paid
Net cash used in financing activities
Effect of exchange rate changes on cash and cash
equivalents
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the fiscal
year
Cash and cash equivalents at the end of the fiscal year

- 11 -

Fiscal year ended
March 31, 2024

23,44012,075
(141)
2,172
(29)
(15,162)(31,301)
5,880(19,309)
43,077527
21,229141(3,351)18,01937,122
13,396
(384)
1,383
8,379
22,212(10,535)
13,999(22,223)(112)
63,237384(10,739)
52,882(12,629)(7,144)29
19(19,725)(11,879)(11,187)(89)(23,155)

(333)
(333)

(458)
4,766
85
146
(3)
(11,160)(6,624)

904

1,499

(1,135)24,602

46,27145,13645,13669,738(5) Notes to consolidated financial statements
Assumptions of a going concern
None.
Segment information
1. Fiscal year ended March 31, 2023
(From April 1, 2022 to March 31, 2023)
The Group has a single segment primarily of SoC developed with the solution SoC business model.
2.

Fiscal year ended March 31, 2024

(From April 1, 2023 to March 31, 2024)
The Group has a single segment primarily of SoC developed with the solution SoC business model.
Per share information(Yen)
Fiscal year ended
March 31,2023

Fiscal year ended
March 31,2024

Net assets per share

652.59732.76

Basic earnings per share

117.40148.39Diluted earnings per share

111.49144.80Notes:
1. The Company implemented a stock split on January 1, 2024 at a ratio of 1 common stock to 5 shares. Net assets per share, basic
earnings per share and diluted earnings per share are computed based on the assumption that the stock split was implemented at
the beginning of the year ended March 31, 2023.
2. As the Company was listed on the Tokyo Stock Exchange Prime Market on October 12, 2022, diluted earnings per share for the
fiscal year ended March 31, 2023 is computed by deeming the average stock price during the period from the listing date toMarch 31, 2023 as the average stock price during the fiscal year.
3. The bases for calculation of net assets per share:(Millions of yen, unless otherwise stated)
As of March 31, 2023
Total net assets

As of March 31, 2024

109,864

131,020

Deductions from total net assets

1285(Of which, deposits for subscriptions of shares)

(-)

(85)

(Of which, share subscription rights)

(12)

(-)

109,852

130,935

168,333,330

178,687,405-

788

168,333,330

178,686,617

Net assets attributable to common stock at the end of the
fiscal year
Number of shares issued at the end of the period
Number of treasury stock held at the end of the period
Number of shares of common stock at the end of the fiscal
year used for the calculation of net assets per share- 12 -

4.

The bases for calculation of net income per share and diluted earnings per share:(Millions of yen, unless otherwise stated)
Fiscal year ended
March 31,2023

Fiscal year ended
March 31,2024

Basic earnings per share
Basic profit attributable to owners of parent
Profit not attributable to common shareholders
Profit attributable to owners of the parent related tocommon stock
Average number of shares of common stock during theperiod19,763

26,134--

19,763

26,134

168,333,330

176,119,044--

8,926,600

4,360,706--

Diluted earnings per share
Adjustment to profit attributable to owners of parent
Number of shares of common stock increased
Summary of potential shares not included in the calculationof diluted earnings per share due to their anti-dilutive effect
Subsequent Events
None.

- 13 -