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 Nine Months Ended December 31, 2022
(Based on Japanese GAAP)
January 30, 2023
Company name:Sansha Electric Manufacturing Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

6882
URL https://www.sansha.co.jp
Representative Director, President
Hajimu Yoshimura

Inquiries:General ManagerCorporate Planning Division

Hiroyuki Maruyama

Operating Officer
Scheduled date to file Quarterly Securities Report:

February 3, 2023

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–Yes

Holding of quarterly financial results meeting:

No

TEL

06-6321-0321(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)(1) Consolidated operating results (cumulative)
Net sales
Nine months ended December 31, 2022
Nine months ended December 31, 2021

Millions of yen
19,875
16,060Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
23.8
620
11.6
609
3.2
355 (15.6)
18.3
556 269.3
590 265.9
420–Earnings per share

Diluted earnings per share

Yen
27.44
29.95

Nine months ended December 31, 2022
Nine months ended December 31, 2021

Yen––(2) Consolidated financial position
Total assets
As of December 31, 2022
As of March 31, 2022

Net assets

Millions of yen
28,91627,146Equity ratio

Millions of yen
20,212
19,810Net assets per share%
69.9
73.0

Yen
1,519.74
1,541.90

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
––Yen
8.00
8.00

Yen––

Yen
17.00

Yen
25.00

––

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
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
Full year
27,00019.1
1,100 (16.4)
1,100 (16.2)
850 (25.9)
65.28

1

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2022
(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 December 31, 2022

14,950,000 shares As of March 31, 2022

14,950,000 shares

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

1,650,022 shares As of March 31, 2022

2,102,122 shares

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

12,938,298 shares Nine months ended December 31, 2021

2

14,047,878 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of December 31, 2022

AssetsCurrent assets
Cash and deposits
Notes receivable - trade

5,026
838

4,128
625

Accounts receivable - trade
Electronically recorded monetary claims - operating

6,364
1,242

6,575
1,819

Merchandise and finished goods
Work in process

2,634
1,591

3,382
1,931

Raw materials and supplies
Other

2,618
562

3,021
853

(59)

(31)

20,81922,304

1,866

1,875

517
2,238

421
2,238

Leased assets, net
Construction in progress

295
79

247
314

Other, net

262

253

5,259

5,351

Goodwill
Other

28
114

23107

Total intangible assets

143131

Investments and other assetsInvestment securities

2432

Deferred tax assets
Retirement benefit asset

255
508

295
559

Other135

240

Total investments and other assets

924

1,129

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land

Total property, plant and equipment
Intangible assets

Total non-current assets
Total assets

3

6,326

6,611

27,14628,916

(Millions of yen)
As of March 31, 2022

As of December 31, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade

3,470

4,490

Electronically recorded obligations - operating
Accounts payable - other

337
913

453
1,377

Accrued expenses
Income taxes payable

609
195

682
152

Contract liabilities
Provision for bonuses

388
565

108
362

Provision for product warranties
Provision for loss on orders received

57
40

54
116

Other

326

390

6,905

8,188

Lease liabilities
Directors' retirement benefits payable

101
68

97
68

Deferred tax liabilities
Retirement benefit liability

161
52

238
57

Other

48

54

Total current liabilities
Non-current liabilities

Total non-current liabilities

431515

7,336

8,703

Share capital
Capital surplus

2,774
2,698

2,774
2,698

Retained earnings
Treasury shares

15,226(1,903)

15,147(1,540)

Total shareholders' equity

18,795

19,079512901
107

1,018
101

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

41,0141,133

19,81020,212

27,14628,916

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

December 31, 2021

December 31, 2022

Net sales
Cost of sales

16,06012,391

19,875
15,718Gross profit

3,668

4,157

Selling, general and administrative expenses

3,112

3,536

556

620

Interest income
Dividend income

42

9
1

Rental income
Gain on valuation of derivatives

10–

1060

Other41

28

Total non-operating income

58111

Interest expenses
Loss on valuation of derivatives

403–

Foreign exchange losses
Other144

117
0

Total non-operating expenses

24122

590

609

Gain on sale of investment securities

7–

Total extraordinary income

7–

Profit before income taxes

597

609

Income taxes - current

115

217

Operating profit
Non-operating income

Non-operating expenses

Ordinary profit
Extraordinary income

Income taxes - deferred

61

37

Total income taxes

176

254

Profit420

355

Profit attributable to owners of parent

420

355

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

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2021

December 31, 2022
420

355

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

(5)
280

7
117

Remeasurements of defined benefit plans, net of tax

(25)

(5)

Total other comprehensive income

248

119

Comprehensive income

669

474

Comprehensive income attributable toComprehensive income attributable to owners of parent

669

474

6