Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended January 31, 2022
(Based on Japanese GAAP)
March 3, 2022
Company name:

SENSHU ELECTRIC CO.,LTD.

Stock exchange listing: Tokyo
Stock code:
9824

URL

https://www.senden.co.jp/

Representative:

Representative Director,President
Senior Managing Director & Executive

Motohide NishimuraInquiries:

Officer & General Manager ofAdministration Division

Kazuto Narita

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

March 10, 2022–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

NoNo

TEL

06-6384-1101(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended January 31, 2022 (from November 1, 2021 to January 31, 2022)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Three months ended January 31, 2022
27,16133.5
1,658 130.2
1,766 115.7
1,194 117.3
Three months ended January 31, 2021
20,3531.3
720 (12.0)819(7.0)549 (10.9)
Earnings per share

Diluted earnings per shareYen
131.2058.78

Three months ended January 31, 2022
Three months ended January 31, 2021

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
86,02583,990

As of January 31, 2022
As of October 31, 2021

Equity ratio

Millions of yen
43,20342,886

%
50.0
50.9

2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
40.00

Yen–

Yen
50.00

Yen
90.00

50.00

–

50.00

100.00Year ended October 31, 2021
Year ending October 31, 2022
Year ending October 31, 2022 (Forecast)Total

3. Forecast of consolidated financial results for the year ending October 31, 2022 (from November 1, 2021 to October 31, 2022)

Net sales
Millions of yen
Six months ending
April 30, 2022
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen

51,500

19.8

2,800

47.0

3,000

43.5

2,100

45.6

232.84

100,000

8.2

5,300

11.7

5,600

11.9

3,900

8.8

432.41

1

4. Notes(1) Changes in significant subsidiaries during the three months ended January 31, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of January 31, 2022

10,500,000 shares As of October 31, 2021

10,800,000 shares

Number of treasury shares at the end of the period
As of January 31, 2022

1,426,206 shares As of October 31, 2021

1,680,806 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended January 31, 2022

9,102,494 shares Three months ended January 31, 2021

2

9,351,833 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of October 31, 2021

As of January 31, 2022

AssetsCurrent assets
Cash and deposits

26,33527,588Notes and accounts receivable - trade
Electronically recorded monetary claims - operating

21,291
7,561

20,554
8,697

Securities
Merchandise

6
4,916

–
5,643

235
(13)

164
(13)

60,33362,633

Buildings and structures, net
Machinery, equipment and vehicles, net

6,275
377

6,199
357

Land
Leased assets, net

10,23981

10,239
73

314

312

17,287

17,183

110

127

1,848

1,707

19
713

16653

4,045(367)

4,072(368)

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other,net
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

3

6,259

6,081

23,65723,391

83,99086,025

(Millions of yen)
As of October 31, 2021

As of January 31, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings

35,628
105

38,136
105

Lease obligations
Income taxes payable

21
1,024

17
430

Provision for bonuses
Other669
976

323
1,123

Total current liabilities

38,426

40,135

15

11

Deferred tax liabilities
Retirement benefit liability

2
2,212

7
2,233

Asset retirement obligations
Other

6442

6426

Total non-current liabilities

2,678

2,686

41,10442,821

Shareholders' equity
Share capital

2,575

2,575

Capital surplus
Retained earnings

3,412
40,032

3,372
39,966

Treasury shares(4,201)(3,719)Total shareholders' equity41,818

42,193

785
131

669
163

Non-current liabilities
Lease obligations

Total liabilities
Net assets

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans

(10)

(9)

Total accumulated other comprehensive income

906

824

Share acquisition rights–

3

Non-controlling interests

160

181

42,886

43,20383,99086,025

Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended
January 31, 2021

Three months ended
January 31, 2022

Net sales

20,35327,161

Cost of sales

17,331

23,168Gross profit

3,021

3,993

Freight and packing costs
Provision of allowance for doubtful accounts

314
6330
0

Salaries and bonuses
Welfare expenses

688
219

697
226

Provision for bonuses
Retirement benefit expenses

305
77

313
68

Travel, transportation and communication expenses
Depreciation

57
134

65
118

Other497

514

2,300

2,334

720

1,658

1

1

Dividend income
Rental income from buildings

1130

1431

Purchase discounts
Foreign exchange gains

11––
7

Insurance claim income
Other2538

3342

Total non-operating income

119131

Selling, general and administrative expenses

Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income

Non-operating expenses
Interest expenses

00

Depreciation
Guarantee commission

132

122

Foreign exchange losses
Other04–
8

Total non-operating expenses

2123

Ordinary profit

819

1,766

Profit before income taxes

819

1,766

Income taxes - current

98

400

Income taxes - deferred

171

156

Total income taxes

270556

Profit548

1,209

Profit (loss) attributable to non-controlling interests

(0)

15

Profit attributable to owners of parent

549

1,194

5Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended
January 31, 2021

Three months ended
January 31, 2022

Net sales

20,35327,161

Cost of sales

17,331

23,168Gross profit

3,021

3,993

Freight and packing costs
Provision of allowance for doubtful accounts

314
6

330
0

Salaries and bonuses
Welfare expenses

688
219697
226

Provision for bonuses
Retirement benefit expenses

305
77

313
68

Travel, transportation and communication expenses
Depreciation

57
134

65
118

Other

497

514

2,300

2,334

720

1,658

11

Dividend income
Rental income from buildings

1130

1431

Purchase discounts
Foreign exchange gains

11––
7

Insurance claim income
Other

25
38

33
42

Total non-operating income

119

131

Selling, general and administrative expenses

Total selling, general and administrative expenses
Operating profitNon-operating income
Interest income

Non-operating expenses
Interest expenses

00

Depreciation
Guarantee commission

132

122

Foreign exchange losses
Other04–
8

Total non-operating expenses

2123

Ordinary profit

819

1,766

Profit before income taxes

819

1,766

Income taxes - current

98

400

Income taxes - deferred

171

156

Total income taxes

270

556

Profit548

1,209

Profit (loss) attributable to non-controlling interests

(0)

15

Profit attributable to owners of parent

549

1,1945

Consolidated statements of comprehensive income (cumulative)(Millions of yen)Three months ended
January 31, 2021

Three months ended
January 31, 2022

Profit548

1,209

Other comprehensive income
Valuation difference on available-for-sale securities

142(115)

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

20
8370

Total other comprehensive income

170(77)

719

1,132

719

1,111(0)20Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests6