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, 2020
(Based on Japanese GAAP)
March 4, 2020
Company name:
SENSHU ELECTRIC CO.,LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

9824
URL https://www.senden.co.jp/
Representative Director,President
Motohide Nishimura

Inquiries:

Senior Managing Director & Executive
Officer & General Manager of

Kazuto Narita

Administration Division
Scheduled date to file Quarterly Securities Report:

March 11, 2020

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:

NoTEL

06-6384-1101(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended January 31, 2020 (from November 1, 2019 to January 31, 2020)(1) Consolidated operating results (cumulative)
Net sales
Three months ended January 31, 2020Three months ended January 31, 2019

Millions of yen
20,091
21,367

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%(6.0)
818 (24.0)
880 (22.4)
616 (19.7)
4.4
1,077
34.8
1,134
29.5
767
28.8

Earnings per share

Diluted earnings per share

Yen
64.17
77.44

Three months ended January 31, 2020Three months ended January 31, 2019

Yen––(2) Consolidated financial position
Total assets
As of January 31, 2020
As of October 31, 2019

Net assets

Millions of yen
67,914
68,589Equity ratio

Millions of yen
39,61539,749

%
58.1
57.7

2. Cash dividends
Annual dividends per share

Year ended October 31, 2019Year ending October 31, 2020

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
35.00

Yen–

Yen
35.00

Yen
70.00

35.00

–

35.00

70.00

Year ending October 31, 2020 (Forecast)Total

3. Forecast of consolidated financial results for the year ending October 31, 2020 (from November 1, 2019 to October 31, 2020)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Six months ending
42,5000.2
1,890 (12.1)
2,000 (11.6)
1,300 (14.5)
136.47
April 30, 2020
Full year
88,800
6.1
4,210
5.8
4,420
5.1
2,920
7.6
306.52

1

4. Notes(1) Changes in significant subsidiaries during the three months ended January 31, 2020(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(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:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(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, 2020

10,800,000 shares As of October 31, 2019

10,800,000 shares

Number of treasury shares at the end of the period
As of January 31, 2020

1,273,828 shares As of October 31, 2019

1,127,181 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended January 31, 2020

9,611,977 shares Three months ended January 31, 20192

9,912,944 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of October 31, 2019

As of January 31, 2020

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

15,972
18,07016,187
16,943

Electronically recorded monetary claims - operating
Merchandise

6,137
4,128

6,349
4,354

226
(22)

198
(95)

44,512

43,937

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

6,825
500

6,752
480

Land
Leased assets, net

10,55087

10,55079

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

Other, net

89

123

18,052

17,986

Goodwill
Other4170

2157Total intangible assets

175

160

Investments and other assets
Investment securities

1,326

1,454

46882

43706

Other,net
Allowance for doubtful accounts

4,016(421)

4,047
(422)

Total investments and other assets

5,849

5,829

24,077

23,976

68,58967,914

Total property, plant and equipment
Intangible assets

Long-term loans receivable
Deferred tax assets

Total non-current assets
Total assets3

(Millions of yen)
As of October 31, 2019

As of January 31, 2020

Liabilities
Current liabilities
Notes and accounts payable - trade23,53723,925

Short-term borrowings
Lease obligations

105
45

105
41

Income taxes payable
Provision for bonuses

736
628

152
319

Other

996

1,033

26,04925,577

63
98

54
100

1,946
6

1,980
6675

579

Total current liabilities
Non-current liabilities
Lease obligations
Deferred tax liabilities
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities

2,790

2,721

28,84028,298

Share capital
Capital surplus

2,575
3,386

2,575
3,386

Retained earnings
Treasury shares

35,467(2,270)35,745(2,770)Total shareholders' equity

39,15838,937431

522

Foreign currency translation adjustment
Remeasurements of defined benefit plans

60(42)

39(34)

Total accumulated other comprehensive income

449

528

140

150

39,74939,61568,58967,914

Total liabilities
Net assets
Shareholders' equity

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

Non-controlling interests
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

Three months ended

January 31, 2019

January 31, 2020

Net sales
Cost of sales

21,367
17,972

20,091
16,850Gross profit

3,394

3,240

313

318

Provision of allowance for doubtful accounts
Salaries and bonuses

32
714

72
706

Welfare expenses
Provision for bonuses

213
307

218
316

Provision for retirement benefits for directors (and otherofficers)

8–Retirement benefit expenses
Travel, transportation and communication expenses

7081

6978

Depreciation
Amortization of goodwill

100
1132
1

Selling, general and administrative expenses
Freight and packing costs

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

471

507

2,316

2,421

1,077

818

21

Dividend income
Rental income from buildings

1330

1130

Purchase discounts
Foreign exchange gains

112124

Other

4127

Total non-operating income

10287

Interest expenses
Depreciation

014013

Guarantee commission
Other

129

111

Non-operating expenses

Total non-operating expenses

4525

1,134

880

6–

Gain on reversal of foreign currency translation adjustment–47

Total extraordinary income

647

Profit before income taxes

1,140

928

Income taxes - current
Income taxes - deferred

240
120

123
181

Total income taxes

360

304

Profit780

623

Profit attributable to non-controlling interests

126

Profit attributable to owners of parent

767

616

Ordinary profit
Extraordinary income
Gain on sales of non-current assets

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

January 31, 2019

January 31, 2020
780

623

Valuation difference on available-for-sale securities
Foreign currency translation adjustment(70)
791(17)

Remeasurements of defined benefit plans, net of tax

87(54)

81

Comprehensive income

Total other comprehensive income

725

704

Comprehensive income attributable toComprehensive income attributable to owners of parent

710

695

149

Comprehensive income attributable to non-controllinginterests6