Consolidated Financial Results
for the First Six Months of the Fiscal Year Ending March 31, 2024 [J-GAAP]
November 10, 2023

Company Name:
Stock exchange listing:Stock code:
Representative:
Contact person:

Dai Nippon Printing Co., Ltd.
Tokyo
7912
URL: https://www.global.dnp/
Yoshinari Kitajima, President
Naoki Wakabayashi,
General Manager, IR and Public Relations Division
Telephone:+81-3-6735-0124
Securities report issuing date:November 10, 2023
Dividend payment date:
December 8, 2023
Preparation of quarterly earnings presentation material: Yes
Holding of quarterly results briefing: Yes (for institutional investors and analysts)(Amounts under one million yen have been rounded down.)
1. Consolidated financial results for the first six months ended September 30, 2023
(April 1, 2023 – September 30, 2023)(1) Consolidated financial results(Percentages show change from corresponding year-ago period.)
Net Income
Attributable toOperating Income
Ordinary Income
Parent Company
Shareholders

Net Sales

Six months ended
September 30, 2023
Six months ended
September 30, 2022

Million yen%

Million yen%

Million yen%

Million yen%

693,752

3.8

27,532(0.2)

37,465

2.1

76,230172.9

668,482

1.7

27,591(10.5)

36,7040.8

27,933(17.4)

Note: Comprehensive income: For the first six months ended September 30, 2023: ¥64,860 million (–%)
For the first six months ended September 30, 2022: ¥5,747 million (-92.9%)
Diluted Net Income
per Share

Net Income per ShareSix months ended
September 30, 2023
Six months ended
September 30, 2022

Yen

Yen

297.86297.83104.19104.17(2) Consolidated financial position
Total Assets

Net Assets

Equity Ratio

Million yen

Million yen%

As of September 30, 2023

1,863,359

1,176,150

59.2

As of March 31, 2023

1,830,384

1,148,245

59.4

Note: Stockholders’ equity: As of September 30, 2023: ¥1,104,028 million As of March 31, 2023: ¥1,087,504 million

2. Dividends
Annual Dividends (Yen)First
Quarter-end

Year ended
March 31, 2023
Year ending
March 31, 2024

SecondQuarter-end

–

32.00

–

32.00

Third
Quarter-end

Year-end

–

Total

32.00

64.00

Year ending March 31, 2024–
32.00
(Forecasts)
Note: Revisions to the most recently announced dividend forecasts during the second quarter: No

64.00

3. Consolidated earnings forecasts for the year ending March 31, 2024
(April 1, 2023 – March 31, 2024)(Percentages show change from corresponding year-ago period.)
Net Income
Net
Attributable toOperating Income
Ordinary Income
IncomeParent Company
per Share
Shareholders

Net Sales

Full year

Million yen%

Million yen%

Million yen%

Million yen%

Yen

1,410,000
2.7
67,0009.4
78,000(6.8)
88,0002.7
346.35
Note: Revisions to the most recently announced earnings forecasts during the second quarter: No
At a meeting of the Board of Directors held on March 9, 2023, the Company resolved to repurchase its own shares.
In the calculation of “net income per share” in the consolidated earnings forecasts, the impact of the share repurchaseafter October 1, 2023 based on this resolution is not taken into account.

Other information(1) Changes in significant subsidiaries during the first six months (changes in specified subsidiaries
resulting in change of scope of consolidation): No(2) Application of accounting procedures peculiar to quarterly consolidated financial statement
preparation: No(3) Changes in accounting policies, changes in accounting estimates, and restatement of revisions
1) Changes in accounting policies with revision of accounting standards: No
2) Changes in accounting policies other than the 1) above:No3) Changes in accounting estimates:
No4) Restatement of revisions:No(4) Number of common shares issued and outstanding
1) Number of common shares
outstanding at end of each period(including treasury shares)
2) Number of treasury shares at
end of each period
3) Average number of shares
outstanding during the period(cumulative from the start of the
fiscal year)

As of September 30,
2023

292,240,346
shares

As of March 31, 2023

292,240,346
shares

As of September 30,
2023

40,328,061
shares

As of March 31, 2023

30,724,570
sharesSix months ended
September 30, 2023

255,931,212
sharesSix months ended
September 30, 2022

268,094,803
shares* These financial results are exempt from auditing by a certified public accountant or an auditing company.
* Explanation regarding appropriate use of earnings forecasts and other special notes
Forward-looking statements in this report, including earnings forecasts, are based on assumptions about economic
conditions, market trends, and other factors at the time the report was published. Actual results may differ significantly
due to a variety of factors.
For information about earnings forecasts, see the section titled, “1. Qualitative information on the consolidated results
for the second quarter (3) Explanation of the consolidated earnings forecasts and other projections,” on page 5.
The DNP Group will hold a results briefing (online conference) for institutional investors and analysts on November
15, 2023. Materials used at the briefing will be uploaded to the DNP website at around 13:00 JST the same day.

Contents
1. Qualitative information on the consolidated results for the second quarter ..................2(1) Explanation of the consolidated financial results ........................................................2(2) Explanation of the consolidated financial position ......................................................4(3) Explanation of the consolidated earnings forecasts and other projections ..............5
2. Quarterly consolidated financial statements and key notes ............................................6(1) Quarterly consolidated balance sheets ........................................................................6(2) Quarterly consolidated statements of income and quarterly consolidated
statements of comprehensive income..........................................................................8(3) Quarterly consolidated statements of cash flows......................................................10(4) Notes regarding quarterly consolidated financial statements ..................................12[Notes on premise of a going concern] ......................................................................... 12[Significant changes in shareholders’ equity] .............................................................. 12[Segment information] .................................................................................................... 12－1－

1. Qualitative information on the consolidated results for the second quarter(1) Explanation of the consolidated financial results
The environment surrounding the DNP Group during the first six months of the fiscal year ending
March 31, 2024 showed signs of gradual economic recovery, including growth in domestic
personal consumption and inbound tourism-related demand, and continued improvement in the
Bank of Japan’s business conditions diffusion index (DI) for large companies in bothmanufacturing and non-manufacturing industries. At the same time, the future remains difficult
to predict, largely because prolonged geopolitical risks and monetary tightening in various
regions around the world are raising concerns about a potential economic slowdown.
Amid these types of major changes in the environment, society, and economies, the DNPGroup is keeping its eye on the long term as it combines its unique strengths in “P&I” (printing
and information), increases collaboration with diverse external partners, and expands its fieldsof business in order to create a better future based on its own ideas. The Group is currently
implementing a Medium-term Management Plan that covers the three fiscal terms from the year
ending March 2024 to the year through March 2026. Through concrete initiatives based on
business strategies, financial strategies, and non-financial strategies, DNP will focus on thecontinuous creation of business value and shareholder value.
In terms of business strategies, we will build a robust business portfolio over the medium tolong term as we accelerate the creation of new value, primarily in focus business areas.
Regarding financial strategies, we will continue to appropriately allocate the cash flow that we
generate toward investments in further business growth and shareholder returns. Concerning
non-financial strategies, we will strengthen the business base that supports our long-term growth,
mainly through three measures: enhancing human capital, enhancing intellectual capital, andaddressing environmental concerns.
As a result of these efforts, consolidated net sales for the first six months grew 3.8% year on
year to ¥693.7 billion, consolidated operating income fell 0.2% to ¥27.5 billion, consolidated
ordinary income grew 2.1% to ¥37.4 billion, and net income attributable to parent company
shareholders grew 172.9% to ¥76.2 billion due mainly to the recording of extraordinary gains on
the sale of investment securities.
With the start of the second quarter of the fiscal year ending March 2024, improved
performances by digital interfaces and other focus businesses made up for declines in thosebusinesses in the first quarter, so operating income posted in the first six months was littlechanged from the same period a year earlier.
In order to clarify the business domains and strategies of each of our business segments, andin order to accelerate the execution of concrete measures, as of the first quarter of the fiscal year
through March 2024, we changed the name of the Information Communication segment to Smart
Communication, and we renamed the Lifestyle and Industrial Supplies segment to Life &Healthcare. At the same time, in order to contribute even further to comfortable lives for people,
we transferred our Beverages business to Life & Healthcare, to which it is closely related.
Comparisons and analyses pertaining to the first six months of the fiscal year through March2024 are based on the new segment classification.
 Smart Communication
In Imaging Communications, photo printing materials performed well, primarily in the Europeanand Asian markets.
Regarding information security, large-scale business process outsourcing (BPO) projects
helped boost the bottom line. In October, DNP established a BPO operations base in Hiroshima
City, Hiroshima Prefecture, its first in the Chugoku/Shikoku area. In addition to enhancing DNP’s
ability to respond to growing demand for BPO in general, the Group intends to further solidify
this business as a way to support its business continuity plan (BCP). In the smart card business,sales of dual-interface cards that feature both contact and contactless standards on a single IC－2－chip stood out for their strong performance.
In marketing, we strove to provide optimal value for each of our client companies by combining
the knowledge of marketing techniques that we have cultivated over the course of many years
with our strength in digital technologies. As a result, performance in this sector was little changed
from the previous year despite continued shrinkage in the market for paper media.
Our publishing business enjoyed growth in sales of library management services in addition
to solid results from the distribution of e-books and other media via our hybrid sales businessthat combines brick-and-mortar stores with online sales. However, overall Publishing sales weresimilar to a year earlier, largely due to the contraction of the market for magazines and otherpaper media.
Concerning Content and XR (extended reality) Communication, we worked to strengthen our
XR communication business, which increases the value of people’s experiences by integrating
real and virtual spaces. In addition, in order to create new businesses related to this field, the
DNP Group acquired Hacosco Inc., a company that developed strengths in “brain tech” and XR
businesses primarily by combining neuroscience with IT.
In the education field, DNP, together with Lenovo Japan LLC, was selected by the Tokyo
Metropolitan Government to support the construction and operation of Tokyo’s “virtual learning
platform” (VLP) project, which is aimed at creating online learning spaces. Going forward, DNP
will continue to support the activities of local governments and classrooms throughout Japan as
they work to provide a variety of educational opportunities under the nation’s “No one left behind”
policy.
As a result of the above, overall segment sales grew 0.8% year on year to ¥350.5 billion.
Although operating income was supported by positive factors including increased information
security sales, the promotion of structural reforms, and success in boosting operational efficiency,
it was also pressured by lower sales in paper media and other areas, as well as increases in raw
material and personnel costs, resulting in sales of 8.5 billion yen, down 9.2% from the same
period last year.
 Life & Healthcare
Helped by a recovery in automobile production, the Mobility and High-Performance Industrial
Supplies businesses enjoyed increased sales of battery pouches for lithium-ion batteries, for use
in both automotive applications and IT devices. Sales of photovoltaic cell-related products ingeneral and encapsulants in particular were solid, backed by rising global demand. In addition
to selling decorative films for automotive interior use, we expanded our automotive product lineup
by starting to sell decorative films for exterior use. These films feature highly aesthetic designs,
save time on painting, and reduce environmental impact.
Our Packaging business was affected by consumers who limited their purchases of foodproducts and household goods due to soaring prices. However, sales still exceeded the previousyear level, thanks largely to our focus on the development and sales of functional packaging
materials such as DNP’s eco-friendly “GREEN PACKAGING®,” along with increased sales offormed plastic products.
The Living Spaces business enjoyed solid sales of DNP’s WS (Woody Series) interiormaterials, with their excellent surface performance qualities and attractive designs, for use in
non-residential applications as well as in condominiums. However, sales of products forresidential use decreased due to a decline in domestic housing starts (owner-occupied homes).
Overseas, too, sales declined due to inflation’s chilling effect on consumption, and overall sales
decreased compared to the previous year.
Sales by DNP’s Beverages business increased online and in restaurants, and price revisions
in major sales channels such as vending machines, supermarkets, and convenience stores, also－3－

helped to boost sales above the previous year’s level.
In the Medical and Healthcare field, CMIC CMO Co., Ltd. became a consolidated subsidiaryof the DNP Group as of the first quarter of the fiscal year through March 2024. Since June 2023,
the Company has been collaborating with the CMIC Group on activities including the integrated
manufacture of pharmaceuticals from active pharmaceutical ingredients as well as thedevelopment of value-added pharmaceuticals.
As a result of the above, segment sales grew 6.7% year on year to ¥231.7 billion. Despite theimpact of increased costs, including raw materials and logistics, operating income soared by
78.7% over the same period last year to 5.1 billion yen, thanks to strong performances by focus
businesses and high-margin products.
 Electronics
In our Digital Interface business, sales of metal masks used for manufacturing organic lightemitting diode (OLED) displays were solid due to increasing adoption of organic EL displays insmartphones. In addition, sales of optical films also started to grow as the effects of the previous
year’s inventory adjustments across the supply chain had run their course, and sales for thisbusiness as a whole rose relative to the previous year.
In semiconductors, sales of photomasks used for making chips remained stable relative to ayear earlier due to demand related to client companies’ product development, but due to a
slowdown in the semiconductor market, there was a decline in sales of lead frames and othersemiconductor package components, resulting in lower overall sales compared to the previous
year.
As preparation for the mass production of nanoimprinted products, whereby patterns areformed by pressing minute molds measured in nanometers (billionths of a meter) onto objects,
DNP entered into a capital and operational alliance with SCIVAX Corporation. In April 2023, thetwo companies established a joint venture company called Nanoimprint Solutions Co., Ltd. The
partners plan to respond to the needs of manufacturers in Japan and overseas by combining
DNP’s strengths, which include technologies for making master molds used in making cuttingedge nanoimprinted products as well as mass production and quality control know-how, withSCIVAX’s strengths, such as mass production equipment and machinery design technologies.
As a result of the above, overall segment sales grew 7.8% year on year to ¥112.6 billion.
Despite strong sales related to digital interfaces, operating income declined 2.7% year on year
to 25.0 billion yen, due to such factors as a downturn in semiconductor-related sales and higher
costs of raw materials and energy.
(2) Explanation of the consolidated financial position
Total assets as of the end of the second quarter increased by ¥32.9 billion from the end of theprevious fiscal year to ¥1,863.3 billion, due mainly to an increase of property, plant andequipment, and cash and time deposits and a decline in marketable securities and investment
securities.
Total liabilities increased by ¥5.0 billion from the end of the previous fiscal year to ¥687.2
billion, due mainly to an increase in long-term debt and a decrease in short-term bank loans.
Net assets increased by ¥27.9 billion from the end of the previous fiscal year to ¥1,176.1
billion due mainly to an increase in net income and a decrease in dividends from surplus, theacquisition of treasury shares, and the valuation difference on available-for-sale securities.
Cash and cash equivalents at the end of the first six months of the fiscal year increased by¥13.4 billion from the end of the previous fiscal year to ¥271.7 billion.
Cash flows from operating activities resulted in income of ¥38.4 billion (versus ¥25.9 billion in－4－the same period of the previous year), mostly due to ¥96.4 billion in income before income taxes
and non-controlling interests and ¥26.2 billion of depreciation.
Cash flows from investing activities resulted in an income of ¥35.7 billion (versus an outlay of¥29.6 billion in the same period of the previous year), mostly due to the expenditure of ¥32.0
billion for the acquisition of property, plant and equipment and proceeds from sales of investment
securities of 64.2 billion yen.
Cash flows from financing activities resulted in an outlay of ¥64.5 billion (versus ¥29.3 billion
in the same period of the previous year) due to such factors as a net decrease of ¥8.1 billion in
short-term bank loans, the expenditure of ¥37.6 billion for the acquisition of treasury shares, anddividend payments of ¥8.3 billion.
(3) Explanation of the consolidated earnings forecasts and other projections
Our earnings forecasts for the fiscal year ending March 2024 are unchanged from the forecasts
announced on May 17, 2023.

－5－

2. Quarterly consolidated financial statements and key notes(1) Quarterly consolidated balance sheets(Million yen)

As of March 31, 2023

As of September 30,
2023

ASSETS
Current assets
Cash and time deposits
Notes, trade receivables, and contract
assetsMarketable securities
Merchandise and finished products
Work in progress
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Fixed assets
Property, plant and equipment
Buildings and structures, net
Machinery and equipment, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible fixed assets
Other
Total intangible fixed assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
TOTAL ASSETS－6－

246,438

265,411

329,762

332,137

22,80085,02633,89035,94649,819(688)
802,995

7,500
90,49840,43939,84035,589(931)
810,486

182,20965,954
139,907
20,28428,073
436,429

194,908
76,037
145,575
22,75834,419473,699

30,36030,36037,82137,821

341,215
221,412(2,029)560,598
1,027,389
1,830,384

315,728
227,773(2,148)541,353
1,052,873
1,863,359

(Million yen)

As of March 31, 2023

As of September 30,
2023

LIABILITIESCurrent liabilities
Notes and trade payables
Short-term bank loans

224,418
30,301

224,449
22,204

Reserve for bonuses

20,433

20,390

Repair reserve

17,54924,261

Other

105,868

102,244

Total current liabilities

398,571393,550

Bonds

100,000

100,000

Long-term debt

13,772

31,844

Repair reserve

9,506

–

Net defined benefit liability

54,74058,092

Deferred tax liabilities

84,65977,839Other

20,88825,881

Total long-term liabilities

283,567

293,658

682,139687,209

Common stock

114,464

114,464

Capital surplus

145,112145,125

Retained earnings

737,699805,560

Treasury stock(88,212)(125,753)

Total stockholders’ equity

909,064

939,397

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Net deferred gains (losses) on hedges

138,781

121,689(21)

32

Foreign currency translation adjustments

14,143

20,601Remeasurements of defined benefit plans
Total accumulated other comprehensive
income25,53522,306

178,439

164,630

Non-controlling interests

60,741

72,122TOTAL NET ASSETS

1,148,245

1,176,150

TOTAL LIABILITIES AND NET ASSETS

1,830,384

1,863,359

Long-term liabilities

TOTAL LIABILITIESNET ASSETSStockholders’ equity－7－(2) Quarterly consolidated statements of income and quarterly consolidated statementsof comprehensive income
Quarterly consolidated statements of income
First six months of the fiscal years(Million yen)Six months ended
September 30, 2022
668,482

Six months ended
September 30, 2023
693,752

Cost of sales

525,634

546,726

Gross profit

142,847

147,025

Selling, general and administrative expenses

115,256

119,493

Operating income

27,591

27,532

2,620
6,028
3,179
11,828

3,121
7,302
2,494
12,918

341
713
1,660
2,715

420
576
1,988
2,985

36,704

37,465

1,156
20
2,267
408
3,853

150
60,667––60,818

452
179
523
1,156

817
528
531
1,877

39,401

96,405

8,817
(33)
8,784
30,617

15,314
3,376
18,69077,715

2,683

1,484

27,933

76,230Net sales

Non-operating income
Interest and dividend income
Equity in earnings of affiliates
Other
Total non-operating income
Non-operating expense
Interest expense
Contributions
Other
Total non-operating expenses
Ordinary income
Extraordinary gains
Gains on sale of fixed assets
Gain on sale of investment securities
Gains on forgiveness of debts
Other
Total extraordinary gains
Extraordinary losses
Loss on sale or disposal of fixed assets
Loss on devaluation of investment securities
Other
Total extraordinary losses
Income before income taxes and non-controllinginterests
Current income taxes
Deferred income taxes
Total income taxes
Net income
Net income attributable to non-controllingshareholders
Net income attributable to parent company
shareholders－8－Quarterly consolidated statements of comprehensive income
First six months of the fiscal years(Million yen)Six months ended
September 30, 2022
Net income
Other comprehensive income
Valuation difference on available-for-salesecurities
Net deferred gains on hedges
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Share of other comprehensive income of affiliates
accounted for using equity method
Total other comprehensive income
Comprehensive income
Attributable to：Parent company shareholders
Non-controlling shareholders－9－

Six months ended
September 30, 2023

30,617

77,715(34,874)(17,640)

25
10,419(3,189)59
7,653(3,137)

2,749

210

(24,869)
5,747(12,854)
64,860

2,278
3,468

62,421
2,439

(3) Quarterly consolidated statements of cash flows(Million yen)

Cash flows from operating activities
Income before income taxes and non-controllinginterests
Depreciation
Increase (Decrease) of doubtful accounts
Increase of net defined benefit asset
Increase of net defined benefit liability
Equity in gains of affiliates
Amortization of consolidation goodwill, net
Interest and dividend income
Interest expense
Net (gains) losses on sales of investment securities
Net losses on devaluation of investment securities
Net (gains) losses on sales or disposal of fixed
assetsDecrease in trade receivables
Increase in inventories
Decrease in trade payables
Gains on forgiveness of debts
Other
Sub-total
Payments for repair costs
Payments for extra retirement payments
Payment of income taxes
Net cash provided by operating activities
Cash flows from investing activities
Net (increase) decrease in time deposits
Net decrease in marketable securities
Payments for purchases of property, plant andequipment
Proceeds from sales of property, plant andequipment
Payments for purchases of investment securities
Proceeds from sales of investment securities
Payments for purchase of intangible fixed assets
Payments for purchase of stock in subsidiaries
resulting in change in scope of consolidation
Interest and dividends received
Other
Net cash provided by (used in) investing activities－10－

Six months ended
September 30, 2022

Six months ended
September 30, 2023

39,401

96,40524,347(66)(8,982)
2,532(6,028)243(2,620)341
8
179

26,294273(8,602)
2,353(7,302)328(3,121)
420(60,666)
528

(692)

683

12,476(10,926)(15,922)(2,267)
7,994
40,017(3,445)(8)(10,581)
25,981

4,129(7,925)(3,221)–
16,001
56,580(2,794)(71)(15,255)
38,458

579
–

(407)
10,300(28,298)(32,001)

333

1,225

(270)
295
(5,831)(511)
64,218(6,599)–(8,459)

3,849
(316)
(29,658)

8,277
(318)
35,724

(Million yen)

Cash flows from financing activities
Net decrease in short-term bank loans
Proceeds from long-term debt
Repayments of long-term debt
Payments for redemption of bonds
Payments for purchases of treasury stock
Payments for establishment of money trusts for the
purpose of purchasing treasury stock
Payments for purchases of treasury stock ofsubsidiaries
Interest paid
Dividends paid
Dividends paid to non-controlling interests
Income from the sale of shares of a subsidiary
without a change in the scope of consolidation
Other
Net cash used in financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Increase in cash and cash equivalents resulting fromthe merger of non-consolidated subsidiaries
Cash and cash equivalents at end of period－11－

Six months ended
September 30, 2022

Six months ended
September 30, 2023

(9,697)1,600(2,148)(25)(7,159)(8,105)
3,119(1,028)(2,000)(37,697)–(7,268)

(0)

(0)

(342)
(8,608)
(510)

(417)
(8,368)(1,369)–982(2,473)(29,365)(2,379)(64,533)

5,360

3,728

(27,682)
293,361

13,376258,329–45

265,678

271,751

(4) Notes regarding quarterly consolidated financial statements[Notes on premise of a going concern]
None[Significant changes in shareholders’ equity]
Treasury stock increased by ¥37,541 million during the first six months of the fiscal year ending
March 2024, due mainly to share repurchases based on a resolution passed by the Board of
Directors on March 9, 2023.
[Segment information]
I. First six months of previous fiscal year (April 1, 2022 – September 30, 2022)
Information on sales and income/loss by reporting segment and income analysis information(Million yen)
Reporting segment

Amounts reported
on quarterly
consolidated
statements ofincomeNote 2

Adjustment
Smart
Communication

Life & Healthcare

Electronics

Note 1Total

Net salesNote3

346,941

217,056

104,483

668,482–

668,482

Inter-segment

871

81

–

953

(953)

–

Total

347,813217,138

104,483

669,435(953)

668,482

9,404

2,867

25,79538,067(10,476)

27,591

Outside customers

Segment income

Notes:

1.
2.
3.

Segment income is adjusted for costs related to basic research not assignable to a reporting
segment or costs of research shared by different segments.
Segment income is adjusted to reflect operating income as reported on the quarterly consolidated
statements of income.
Sales include revenues generated from contracts with customers as well as other revenues, but
because almost all revenues are generated from contracts with customers, the other revenues are
insignificant and are therefore not displayed separately.

II. First six months of current fiscal year (April 1, 2023 – September 30, 2023)
1. Information on sales and income/loss by reporting segment and income analysis information(Million yen)
Reporting segment

Amounts reported
on quarterly
consolidated
statements ofincomeNote 2

Adjustment
Smart
Communication

Life & Healthcare

Electronics

Total

Note 1

Net salesNote3

349,452

231,658

112,641

693,752–

693,752

Inter-segment

1,054

69

–

1,123

(1,123)–

Total

350,506

231,727

112,641

694,875(1,123)

693,752

8,535

5,122

25,08838,746(11,213)

27,532

Outside customers

Segment income

Notes:

1.
2.
3.

Segment income is adjusted for costs related to basic research not assignable to a reporting
segment or costs of research shared by different segments.
Segment income is adjusted to reflect operating income as reported on the quarterly consolidated
statements of income.
Sales include revenues generated from contracts with customers as well as other revenues, but
because almost all revenues are generated from contracts with customers, the other revenues are
insignificant and are therefore not displayed separately.

－12－2. Matters related to changes in reporting segments, etc.
In order to clarify the business domains and strategies of each of our reporting segments, andin order to accelerate the execution of concrete measures, as of the first quarter of the fiscal year
through March 2024, we changed the name of the Information Communication segment to Smart
Communication, and we renamed the Lifestyle and Industrial Supplies segment to Life &Healthcare. At the same time, in order to contribute even further to comfortable lives for people,
we transferred our Beverages business to Life & Healthcare, to which it is closely related, andwe eliminated the Beverage segment.
Segment information for the first six months of the previous fiscal year is presented based on
the new name and classification method.

－13－