Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

(This document has been translated from the original document in Japanese. In the event of any discrepancy between this English translationand the original document in Japanese, the original document in Japanese shall prevail.)August 5, 2021

Summary of Financial Results for the First Quarter of the Fiscal YearEnding March 31, 2022
(Three Months Ended June 30, 2021)[Japan Standards] (Consolidated)
Name of Listed Company: Sanshin Electronics Co., Ltd.
Stock Exchange Listed: 1st Section, Tokyo
Code No.:
8150
URL: http://www.sanshin.co.jp
Representative: Toshiro Suzuki (Representative Director & COO)
Enquiries to:
Akio Misono, Director, Senior Operating Officer and Senior General
Tel.: +81-3-3453-5111
Manager of Finance & Accounting Division
Scheduled date of filing of Quarterly Report:
August 10, 2021
Scheduled date of dividend payment:－
Supplementary materials for the quarterly financial results: None
Investor conference for the quarterly financial results:
None(Amounts are rounded down to the nearest million yen)

1. Consolidated Business Performance for the First Quarter of March 2022 Term(April 1, 2021 – June 30, 2021)(1) Consolidated business performance (cumulative)

Operating profit

Net sales
Million yen

1Q March 2022 Term
1Q March 2021 Term
(Note) Comprehensive income(% figures represent year-on-year changes)
Net profit attributable toOrdinary profit
shareholders of parent
company%

Million yen%

24,51412.7
461－
21,758(19.7)(80)－
1Q March 2022 Term: 236 million yen (－%)
Net profit per share

Million yen%

Million yen

%

333
－
196
－
(61)
－
(166)
－
1Q March 2021 Term: -136 million yen (－%)

Diluted net profit per share
Yen

Yen

1Q March 2022 Term
10.23－
1Q March 2021 Term
(8.70)－(Note) The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29; March 31, 2020), etc., was applied from the
beginning of the consolidated first quarter under review. The figures for 1Q March 2022 term are after application of the
Accounting Standard, etc.

(2) Consolidated financial position
Total assets
Million yen

Net assets
Million yen

Equity ratio%

1Q March 2022 Term
83,30342,82851.3
March 2021 Term
84,602
43,21051.0(Reference) Shareholders’ equity 1Q March 2022 Term: 42,774 million yen
March 2021 Term: 43,152 million yen(Note) The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29; March 31, 2020), etc., was applied from the
beginning of the consolidated first quarter under review. The figures for 1Q March 2022 term are after application of the
Accounting Standard, etc.

Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

2. Dividends
1Q-endDividend per share
3Q-end2Q-endYen

Yen

Year-end

Yen

AnnualYen

Yen

March 2021 Term
－
8.00
－
32.00
40.00
March 2022 Term－
March 2022 Term (forecast)
30.00
－
20.00
50.00
(Notes) 1. Revision of most recent forecast on dividends:
None
2. Breakdown of 2Q-end dividends for March 2022 term: Ordinary dividend 10.00 yen, Commemorative dividend 20.00 yen(dividend to commemorate 70th anniversary of founding)

3. Forecasts for Consolidated Business Performance for March 2022 Term (April 1, 2021 – March 31, 2022)

Net salesFirst half
Full year

Operating profit(% figures represent year-on-year changes)
Net profit attributable to
Net profit per
shareholders of
shareparent company

Ordinary profit

Million yen%

Millionyen%

Million yen%

Million yen%

Yen

55,000108,000

1.9
(4.2)

1,050
1,570

87.9
(27.6)

900
1,500

87.7
(20.2)

650
1,150

77.0
(30.1)

37.55
77.95

(Notes) 1. Revision of most recent forecast on earnings:
Yes
2. At the Board of Directors meeting held on May 12, 2021, the Company resolved to acquire the Company’streasury stock. The Company plans to acquire 7,000,000 shares of treasury stock on August 13, 2021. The net
profit per share in forecasts for consolidated business performance considers the impact of the treasury stockacquisition.
* Annotations(1) Significant subsidiary change in the consolidated cumulative period of this quarter (changes in scope of consolidation):
Newly added: － Excluded: －(2) Application of unique accounting to the preparation of quarterly consolidated financial statements:

None

None

(3) Change of accounting principles, change of accounting estimate, and redisplay after revision:
1) Change of accounting principles caused by revision of accounting standards:
2) Change of accounting principles other than 1):
3) Change of accounting estimate:4) Redisplay after revision:

Yes

None

None

None

(Note) For details, please refer to the section “2. Quarterly Consolidated Financial Statements and Main Notes - (3)Notes on Quarterly Consolidated Financial Statements (Change of Accounting Principles)” on page 8 of[Appendix].
(4) Number of shares outstanding (ordinary shares)
1) Number of shares outstanding at the end of term (including treasury stock):
1Q March 2022 Term:

24,281,373 shares

March 2021 Term:

24,281,373 shares

March 2021 Term:

5,097,465 shares2) Amount of treasury stock at the end of term:
1Q March 2022 Term:

5,097,539 shares3) Amount of average stock during the term (quarterly total):
1Q March 2022 Term:

19,183,878 shares

1Q March 2021 Term:

19,180,263 shares(Note) The amount of treasury stock at the end of the term includes Company stock (1Q March 2022 term: 132,800 shares,
March 2021 term: 132,800 shares) possessed in a trust related to the Performance-Based Stock Compensation Plan
for Directors (with the exception of External Directors). Also, Company stock held in the trust is included intreasury stock to be deducted in the calculation of the amount of average stock during the term (1Q March 2022

Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

term: 132,800 shares, 1Q March 2021 term: 136,700 shares).
* This summary of quarterly financial results is not subject to quarterly review by certified public accountants or auditing corporations.
* Cautionary statement regarding forward-looking statements
The projected results and forward-looking statements included in this document reflect the Company’s expectations based on
information available at the time of release, and are not intended as a guarantee that the Company will achieve these targets. The actual
performance may considerably differ from the forecast due to various factors.
See the section “1. Qualitative Information Concerning the Current Quarterly Settlement - (3) Explanation of Forecasts for Consolidated
Business Performance and Other Future Prospects” on page 3 of [Appendix], regarding the relevant matters for the above forecast forthe business performance.

Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

Contents of Appendix
1. Qualitative Information Concerning the Current Quarterly Settlement ......................................................... 2(1) Explanation of Business Results .................................................................................................................. 2(2) Explanation of Financial Position ................................................................................................................ 3(3) Explanation of Forecasts for Consolidated Business Performance and Other Future Prospects .................. 3
2. Quarterly Consolidated Financial Statements and Main Notes...................................................................... 4(1) Quarterly Consolidated Balance Sheets ....................................................................................................... 4(2) Quarterly Consolidated Profit and Loss Statement, Consolidated Comprehensive Income Statement ........ 6(3) Notes on Quarterly Consolidated Financial Statements ............................................................................... 8(Notes Regarding Going Concern) ............................................................................................................... 8(Notes Regarding Remarkable Change of Shareholders’ Equity) ................................................................ 8(Change of Accounting Principles)............................................................................................................... 8(Additional Information) .............................................................................................................................. 9(Segment Information and Other) .............................................................................................................. 10

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Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

1. Qualitative Information Concerning the Current Quarterly Settlement
The items related to the future contained in this document are decisions made based on present consolidated
financial results as of the end of this quarter.
Also, from the beginning of the consolidated first quarter under review, the Accounting Standard for Revenue
Recognition (ASBJ Statement No. 29; March 31, 2020), etc., was applied in accordance with transitional
treatment. Details are listed on page 8 “2. Quarterly Consolidated Financial Statements and Main Notes” – “(3)Notes on Quarterly Consolidated Financial Statements (Change of Accounting Principles).”(1) Explanation of Business Results
In the consolidated first quarter under review, when looking at the global economy, there was recovery of
economic activities with a focus on China, Europe, and the United States. However, it is still uncertain when the
COVID-19 pandemic will end. Furthermore, there was the reemergence of problems which existed prior to the
COVID-19 pandemic; for example, trade friction between China and the United States. Due to such factors, thefuture remained uncertain.
In the electronics industry, which is one of the Group’s fields of business, semiconductor demand recovered
mainly for the automobile industry. Also, in the domestic ICT industry, there was strong investment related to
DX (Digital Transformation).
Against this background, in the device business, the Group worked to increase the profitability of existing
businesses and to reform our portfolio by cultivating new businesses with high profit margins. In the solution
business, we strove to build a subscription-type business model, expand our latest digital technology, and increase
the number of customers.
As a result of these efforts, business performance in the consolidated first quarter under review was as follows:
Net sales were ¥24,514 million (up 12.7% year-on-year), operating profit was ¥461 million (contrasting with anoperating loss of ¥80 million in the same period of the previous fiscal year), and ordinary profit was ¥333 million(contrasting with an ordinary loss of ¥61 million in the same period of the previous fiscal year). This was due toa significant improvement in the performance of the device business year-on-year. Consequently, net profit
attributable to shareholders of parent company was ¥196 million (contrasting with a net loss attributable toshareholders of parent company of ¥166 million in the same period of the previous fiscal year).
The operating results for each business segment are as follows:
Device segment
In the device business segment, our leading products are semiconductors (including system LSIs,
microcomputers, LCD driver ICs and memory) and electronic components (including connectors, capacitors andcircuit boards). These products are sold mainly to electronics manufacturers. We also provide technical support
such as software development and module development.
In the consolidated first quarter under review, there was an upswing in production after production activities
at customers and suppliers had stagnated in the same period of the previous fiscal year due to new conditions in
the global COVID-19 pandemic. Also, sales for home video game consoles increased and strong demand
recovered for semiconductors. As a result, net sales were ¥22,343 million (up 15.4% year-on-year). Segment
profit was ¥369 million (contrasting with segment loss of ¥143 million in the same period of the previous fiscal
year) due to increased revenue and an improved gross profit margin.
Solution segment
In the solution business segment, we provide the optimal ICT infrastructure to each customer by combining
network devices, security products, Line-of-Business systems, clouds, and data centers. Furthermore, we provide
integrated services in all phases of design, construction, operation, and maintenance while supporting technologythat continually evolves through revolutionary technology such as AI and IoT, and through cloud native.
In the consolidated first quarter under review, unlike the device business, there was limited upswing from thesame period of the previous fiscal year because the impact of the COVID-19 pandemic had been minimal.
Furthermore, overall sales fell. As a result, net sales were ¥2,170 million (down 9.3% year-on-year). In terms of
profit, segment loss was ¥36 million (contrasting with segment profit of ¥82 million in the same period of the2

Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

previous fiscal year) due to a decrease in gross profit caused by lower revenue and a change in the sales
composition, and to an increase in selling, general and administrative expenses caused by increased personnel.
In the solution business, net sales tend to be concentrated in the second quarter and fourth quarter, so we expect
the segment to become profitable from the second quarter onward.
(2) Explanation of Financial Position(Assets)
As of June 30, 2021, assets decreased ¥1,299 million compared with March 31, 2021, to ¥83,303 million. Thiswas mainly attributable to a ¥2,961 million decrease in consumption taxes receivable, a ¥1,727 million decreasein notes and accounts receivable–trade, a ¥2,214 million increase in merchandise inventories, and a ¥952 million
increase in cash and deposits.
(Liabilities)
As of June 30, 2021, liabilities decreased ¥917 million compared with March 31, 2021, to ¥40,474 million.
This was mainly attributable to a ¥512 million decrease in short-term loans payable and a ¥170 million decreasein notes and accounts payable–trade.
(Net Assets)
As of June 30, 2021, net assets decreased ¥381 million compared with March 31, 2021, to ¥42,828 million.
This was mainly attributable to a ¥421 million decrease in retained earnings.
(3) Explanation of Forecasts for Consolidated Business Performance and Other Future Prospects
Against a background of strong demand recovery for semiconductors and strong sales for mobile devices andhome video game consoles, net sales in the device business are expected to exceed the initial forecast. Therefore,
we have revised the forecast for consolidated business performance in the first half of the fiscal year ending
March 31, 2022, which was announced on May 12, 2021, to the following figures.. (For details, please refer tothe “Notice Regarding Revision of Business Forecast” which was released today.)In terms of the full-term business performance forecast, no significant changes are observed in businesssentiment at the current point in time. However, we have not finished examining how far ahead of schedule ourplan is for the third quarter and onward, which is included in the revision of the forecast for consolidated businessperformance in the first half of the fiscal year. Furthermore, it is difficult to determine the procurement status forsemiconductors, for which tight supply and demand continues at the current point in time. It is also difficult todiscern the status of the COVID-19 pandemic and the extent of its impact on economic activities. Therefore, wehave decided not to change the figures from the forecast that was announced on May 12, 2021. Moving forward,
we will review the figures in the full-term business performance forecast, and plan to announce the results at thetime of releasing the Summary of Financial Results for the First Half of the Fiscal Year Ending March 31, 2022
(scheduled for November 5, 2021).
In regards to the forecasted figure for dividend per share, the Company made a tender offer for treasury stockof 7,000,000 shares (ordinary stock) from June 22, 2021 to July 19, 2021. This acquisition caused the number ofshares eligible for dividends to decrease. Since the Company’s dividend policy (aiming for a consolidated payout
ratio of 50%) is linked to net profit attributable to shareholders of parent company, we plan to announce theforecasted figure for dividend per share together with the full-term business performance forecast discussed
above. We do not plan to change the forecasted figure for commemorative dividends, which are issued separate
from the Company’s dividend policy.
Forecast for Consolidated Business Performance in the First Half
Net sales¥55,000 million (up 1.9% YoY)
Operating profit¥1,050 million (up 87.9% YoY)
Ordinary profit¥900 million (up 87.7% YoY)
Net profit attributable to shareholders of parent company¥650 million (up 77.0% YoY)

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Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

2. Quarterly Consolidated Financial Statements and Main Notes(1) Quarterly Consolidated Balance Sheets(Million yen)March 2021 Term
(As of Mar. 31, 2021)

1Q March 2022 Term
(As of Jun. 30, 2021)

AssetsCurrent assets
Cash and deposits

25,544

Notes and accounts receivable–trade32,696--29,474

Notes and accounts receivable–trade, and contract assets

26,496841

2,335

14,333

16,547

9

19

4,520

1,972

(9)

(9)

77,93476,836

2,701

2,680

482

460

Others

3,520

3,360

Allowance for doubtful accounts

(35)

(35)

Total investments and other assets

3,484

3,325

Electronically recorded monetary claims
Merchandise inventories
Partly-finished work
OthersAllowance for doubtful accounts
Total current assets
Non-current assets
Property and equipment
Intangible assets
Investments and other assets

6,668

6,466

84,602

83,303

Notes and accounts payable–trade

13,104

12,933

Short-term loans payable

25,351

24,838

Accrued corporate tax, etc.

288

195

Allowance

501

224

Others

1,730

1,880

Total current liabilities

40,97540,072

Net defined benefit liabilities

100

87

Others316

314

Total non-current liabilities

416

401

41,39240,474

Total non-current assets
Total assets
Liabilities
Current liabilities

Non-current liabilities

Total liabilities

4Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

(Million yen)March 2021 Term
(As of Mar. 31, 2021)

1Q March 2022 Term
(As of Jun. 30, 2021)

Net assets
Shareholders’ equity
Capital stock

14,811

14,811

Capital surplus

5,329

5,329

Retained earnings

33,10632,684

Treasury stock(10,348)(10,348)

Total shareholders’ equity

42,89942,477

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

583

500

Deferred hedge gains (losses)

(133)

(14)

Foreign currency translation adjustment

(244)

(237)

Remeasurements of defined benefit plans

47

48

Total accumulated other comprehensive income

253

296

58

54

43,21042,82884,602

83,303

Non-controlling interests
Total net assets
Total liabilities and net assets

5Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

(2) Quarterly Consolidated Profit and Loss Statement, Consolidated Comprehensive Income Statement(Quarterly Consolidated Profit and Loss Statement of the First Quarter)
1Q March 2021 Term
(Apr. 1, 2020 – Jun. 30, 2020)
21,758Net sales(Million yen)
1Q March 2022 Term
(Apr. 1, 2021 – Jun. 30, 2021)
24,514

Cost of sales

19,732

21,959Gross profit on sales

2,025

2,555

Selling, general and administrative expenses

2,105

2,093

Operating profit (loss)

(80)

461

Non-operating profit
Interest income

44Dividend income

1515

Foreign exchange gains

12-

Others18

18

Total non-operating profit

51

39

Interest expenses

19

25

Sales discounts

1

4Foreign exchange losses-

133

Non-operating expenses

Others11

5

Total non-operating expenses

32

167

(61)

333

Gain on sales of investment securities

56

0

Total extraordinary profits

56

0

(4)

333

Corporate, resident and enterprise taxes

59

116

Adjustment for corporate tax, etc.

104

23

Total corporate taxes

163

140

Net profit (loss)

(167)

192

Ordinary profit (loss)
Extraordinary profits

Net profit (loss) before tax and other adjustments

Net profit (loss) attributable to non-controlling interests
Net profit (loss) attributable to shareholders of parent company

6

(0)

(3)

(166)

196

Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

(Quarterly Consolidated Comprehensive Income Statement of the First Quarter)
1Q March 2021 Term
(Apr. 1, 2020 – Jun. 30, 2020)(167)

1Q March 2022 Term
(Apr. 1, 2021 – Jun. 30, 2021)
192

93

(83)

Deferred hedge gains (losses)

(2)

118

Foreign currency translation adjustment

(67)

7

Remeasurements of defined benefit plans, net of tax

60

Total other comprehensive income

30

43

(136)

236

(135)

240

(0)

(3)

Net profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities

Comprehensive income(Details)
Comprehensive income attributable to shareholders ofparental company
Comprehensive income attributable to non-controllinginterests

7Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

(3) Notes on Quarterly Consolidated Financial Statements(Notes Regarding Going Concern)
None.

(Notes Regarding Remarkable Change of Shareholders’ Equity)
Reduction of General Reserve, Capital Reserve, and Retained Surplus
At the 70th Ordinary General Meeting of Shareholders held on June 18, 2021, the Company resolved to reduce theamount of general reserve, capital reserve and retained surplus.
(1) Purpose of Reducing the General Reserve, Capital Reserve, and Retained Surplus
In order to expand the financial resources for the tender offer for treasury stock that was decided at the Board of
Directors meeting held on May 12, 2021, and to ensure flexibility and agility in future capital policy, we reduced thecapital reserve and retained surplus. Additionally, after decreasing the amount of capital reserve, we transferred it to othercapital surplus; after reducing the retained surplus, we transferred it to retained earnings brought forward; and we
transferred the general reserve to retained earnings brought forward. Details are as follows.
(2) Method of Reducing Capital Reserve
Based on the provisions of Paragraph 1, Article 448 of the Companies Act, the capital reserve of ¥5,329,906,456 was
reduced with June 30, 2021 as the effective date, and the entire amount of the reduction was transferred to other capitalsurplus.
(3) Method of Reducing Retained Surplus
Based on the provisions of Paragraph 1, Article 448 of the Companies Act, the retained surplus of ¥670,983,281 wasreduced with June 30, 2021 as the effective date, and the entire amount of the reduction was transferred to retained earnings
brought forward.
(4) Method of Reducing General Reserve
Based on the provisions of Article 452 of the Companies Act, the general reserve of ¥18,680,000,000 was reduced,
and the entire amount of the reduction was transferred to retained earnings brought forward.

(Change of Accounting Principles)
Application of the Accounting Standard for Revenue Recognition, etc.
From the beginning of the consolidated first quarter under review, the Company applies the Accounting Standard for
Revenue Recognition (ASBJ Statement No. 29; March 31, 2020; hereinafter, “the Accounting Standard for Revenue
Recognition”), etc. Under this standard, once control of a promised good or service is transferred to the customer, theCompany recognizes revenue at the amount that the Company expects to receive in exchange for the good or service.
As a result, mainly in export sales, revenue was recognized at the time of clearing export customs. However, revenue
is now recognized when the burden of risk has been transferred to the customer based on the trade conditions stipulated
by Incoterms (international commercial terms), etc.
In applying the Accounting Standard for Revenue Recognition, etc., the Company follows the transitional handlingstipulated in the proviso in Paragraph 84 of the Accounting Standard for Revenue Recognition. The cumulative financial
effect of applying the new accounting principle retroactively to events before the beginning of the consolidated first quarter
under review is added to or subtracted from the retained earnings at the beginning of the first quarter, and the new
accounting principle is applied from the balance at the beginning of the first quarter onward. However, the method
stipulated in Paragraph 86 of the Accounting Standard for Revenue Recognition is also applied. The new accounting
principle is not applied retroactively to contracts in which most revenue is recognized in accordance with the handling
before the beginning of the consolidated first quarter under review. In addition, the method stipulated in the proviso (1) in
Paragraph 86 of the Accounting Standard for Revenue Recognition is applied. With respect to contract changes conducted
before the beginning of the consolidated first quarter under review, accounting is conducted based on the contract terms
after all of the contract changes are reflected, and the cumulative financial effect is added to or subtracted from the retained
earnings at the beginning of the consolidated first quarter under review.
Applying the Accounting Standard for Revenue Recognition, etc., has insignificant impact on the quarterly8Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

consolidated financial statements.
Because the Accounting Standard for Revenue Recognition, etc., is applied, the item “Notes and accounts receivable–
trade” listed under “Current assets” in the consolidated balance sheet for the previous consolidated fiscal year is included
in “Notes and accounts receivable–trade, and contract assets” from consolidated first quarter under review onward. In
accordance with the stipulation on transitional handling in Paragraph 89-2 of the Accounting Standard for Revenue
Recognition, accounting items are not reorganized for the previous consolidated fiscal year as a result in the new methodof representation.
Application of the Accounting Standard for Fair Value Measurement, etc.
The Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30; July 4, 2019; hereinafter, “theAccounting Standard for Fair Value Measurement”), etc., is applied from the beginning of the consolidated first quarter
under review. In accordance with the stipulations on transitional handling in Paragraph 19 of the Accounting Standard for
Fair Value Measurement and Paragraph 44-2 of the Accounting Standard for Financial Instruments (ASBJ Statement No.
10; July 4, 2019), the new accounting principle stipulated in the Accounting Standard for Fair Value Measurement, etc.,
will be applied in the future.
Applying the Accounting Standard for Fair Value Measurement, etc., has no impact on the quarterly consolidated
financial statements.

(Additional Information)
Acquisition of Treasury Stock and Tender Offer of Treasury StockAt the Board of Directors meeting held on May 12, 2021, the Company resolved the acquisition of the Company’streasury stock based on Paragraph 1 of Article 156 of the Companies Act (Act No. 86 of 2005), as amended (the“Companies Act”), which applies mutatis mutandis pursuant to Paragraph 3 of Article 165 of the same Act and theCompany’s Articles of Incorporation, and resolved to make a tender offer of treasury stock (the “Tender Offer”) as the
specific acquisition method of treasury stock.
Furthermore, the Company planned to make the Tender Offer assuming that a proposal to reduce the general reserve,
capital reserve, and retained surplus would be passed at the Company’s Ordinary General Meeting of Shareholders heldon June 18, 2021, and the proposal was actually passed.
(1) Purpose of Acquiring Treasury Stock and Making Tender Offer for Treasury StockOn May 12, 2021, the Company announced its V73 Medium-term Management Plan, which is a three-year plan with
the Company’s 73rd term (fiscal year ending March 31, 2024) as the final year. In that plan, the Company set its target toachieve a 5% ROE at an early stage, and stated that, as part of measures for achieving this target, it will promote businessstructure reform to highly-profitable business with terms for early collection of accounts receivables, which will achievea small purchase amount relative to net sales compared to unit sales of semiconductors and electronic components, which
are the main products in the current net sales composition. The Company also stated that it will optimize capital in
conjunction with improving profitability and suppressing an increase in demand for funds as a result of this businessstructure reform. As part of these measures, the Company decided that it was necessary to make the Tender Offer andresolved to implement the Tender Offer.
(2) Contents of Resolution by the Board of Directors
1) Type of shares to be acquired:
Ordinary stock2) Total number of shares to be acquired:
7,000,100 shares (maximum)
3) Contents of funds, etc., to be delivered in exchange for acquisition:
Funds4) Total amount of funds, etc., to be delivered in exchange for acquisition: 15,743,224,900 yen (maximum)
5) Period during which acquisition is possible:
From June 22, 2021 to August 31, 2021
(3) Overview of Tender Offer for Treasury Stock
1) Number of shares scheduled for tender offer:
2) Price of tender offer:
3) Period of tender offer:

7,000,000 shares¥2,249 per share
From June 22, 2021 to July 19, 2021

9

Sanshin Electronics Co., Ltd. (8150) 1Q Fiscal Year Ending March 31, 2022

4) Publication date for commencing the tender offer:5) Settlement start date:June 22, 2021
August 13, 2021

(4) Result of Tender Offer for Treasury Stock
1) Total number of shares tendered:2) Total number of shares purchased:
3) Total acquisition price:4) Scheduled acquisition date:

7,486,162 shares
7,000,000 shares¥15,743,000,000
August 13, 2021

(Segment Information and Other)[Segment Information]
I. Three months ended June 30, 2020 (Apr. 1, 2020 - Jun. 30, 2020)
Information regarding the amounts of sales, profit or loss in each report segment(Million yen)

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

Device segment

Solution segment

19,364－
19,364
(143)

2,393
－
2,393
82

Total
21,758－21,758(61)(Note) The segment profit (loss) is consistent with the ordinary loss in the quarterly consolidated profit and loss statement.
II. Three months ended June 30, 2021 (Apr. 1, 2021 - Jun. 30, 2021)
1. Information regarding the amounts of sales, profit or loss in each report segment(Million yen)

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

Device segment

Solution segment

22,343－
22,343
369

2,170
－
2,170
(36)

Total
24,514－24,514333(Note) The segment profit (loss) is consistent with the ordinary profit in the quarterly consolidated profit and loss statement.
2. Items related to changes in report segments, etc.
As described in “(Change of Accounting Principles),” the Company applied the Accounting Standard for
Revenue Recognition (ASBJ Statement No. 29; March 31, 2020), etc., from the beginning of the consolidated firstquarter under review and changed the method of account processing for revenue recognition. Consequently, we
similarly changed the method for measuring net sales and profit/loss in business segments.
The impact of the changes on net sales and profit/loss in the business segment is insignificant.

10