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 June 30, 2024
(Based on Japanese GAAP)
August 9, 2024
Company name:HAGIWARA ELECTRIC HOLDINGS CO., LTD.
Stock exchange listing: Tokyo, Nagoya
Stock code:
Representative:

7467
URL https://www.hagiwara.co.jp/President and Representative Director
Moritaka Kimura

Inquiries:
Senior Vice President
Scheduled date to commence dividend payments:

Yoshihiro Hirakawa–Preparation of supplementary material on financial results:
Holding of financial results meeting:YesNoTEL

052-931-3511(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(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 June 30, 2024
62,14823.1
1,859 (25.6)
1,872 (26.0)
1,215 (28.7)
Three months ended June 30, 2023
50,50427.2
2,500 106.6
2,529
72.1
1,706
73.2
Earnings per share

Diluted earnings per share

Yen
122.06189.40Three months ended June 30, 2024
Three months ended June 30, 2023

Yen–187.65(2) Consolidated financial position
Total assets

Net assets

Millions of yen
126,597
119,706

As of June 30, 2024
As of March 31, 2024

Equity ratioMillions of yen
50,97050,361%
38.6
40.3

2. Cash dividends
Annual dividends per share

Year ended March 31, 2024
Year ending March 31, 2025

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
95.00

Yen–

Yen
90.00

Yen
185.00

90.00

–

95.00

185.00Year ending March 31, 2025 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Net sales
Full year

Millions of yen
269,000

Percentages indicate year-on-year changesProfit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen
19.5
7,900
2.4
7,100(1.7)
4,600
4.0
461.73

14. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

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:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

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 June 30, 2024

10,118,000 shares As of March 31, 2024

10,118,000 shares

Number of treasury shares at the end of the period
As of June 30, 2024

155,505 shares As of March 31, 2024

155,505 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

9,962,495 shares Three months ended June 30, 2023

29,010,159 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

14,522
36,74415,30938,602

Electronically recorded monetary claims - operating
Securities

11,939105

7,805–

Merchandise and finished goods
Work in process

41,446
1,200

48,782
1,384

Raw materials and supplies
Other

2,028
3,596

1,892
4,746

(10)

(11)

111,572

118,512

Property, plant and equipment
Intangible assets

4,521
276

4,480
331

Investments and other assets
Other

Allowance for doubtful accounts
Total current assets
Non-current assets

3,375

3,309

Allowance for doubtful accounts

(39)

(35)

Total investments and other assets

3,336

3,273

8,134

8,085

119,706

126,597

Notes and accounts payable - trade
Electronically recorded obligations - operating

24,696
4,630

24,666
4,991Short-term borrowings
Current portion of long-term borrowings

4,879
3,902

12,230
4,052

Income taxes payable
Provision for product warranties

1,675
20595
20

Provision for loss on orders received
Other

56
5,249

38
5,298

Total current liabilities

45,111

51,893

10,00010,000Long-term borrowings
Other

13,592641

13,067667

Total non-current liabilities

24,23423,734

69,34575,627

Total non-current assets
Total assets
Liabilities
Current liabilities

Non-current liabilities
Bonds payable

Total liabilities

3(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Net assets
Shareholders' equity
Share capital

6,099

6,099

Capital surplus
Retained earnings

6,616
34,1686,616
34,487

Treasury shares

(284)

(284)

46,59846,918

500
–468
(4)

Foreign currency translation adjustment
Remeasurements of defined benefit plans

1,117
0

1,462
3

Total accumulated other comprehensive income

1,618

1,929

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Non-controlling interests

2,143

2,122

Total net assets

50,36150,970119,706

126,597

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

June 30, 2023

June 30, 2024

Net sales
Cost of sales

50,50445,151

62,14856,928Gross profit

5,352

5,219

Selling, general and administrative expenses

2,852

3,359

Operating profit

2,500

1,859

Interest income
Dividend income

09112Foreign exchange gains
Other

79
1651
39

Total non-operating income

105

104

Non-operating income

Non-operating expenses
Interest expenses

4366

Interest expenses on bonds
Loss on redemption of securities

10–

105

Other

228

Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities

7691

2,529

1,872–

23

Other

2–

Total extraordinary income

223

00

Extraordinary losses
Loss on disposal of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

500

2,531

1,896

811

666

1,719

1,229

1213

1,706

1,215

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

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2023

June 30, 2024
1,719

1,229

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

73
(5)

(32)
(4)

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

113
6344
2

Total other comprehensive income

186

310

1,906

1,540

1,893

1,526

1213

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests6