Yodogawa Steel Works, Ltd.

Yodogawa Steel Group
Financial Results Briefing Material
for the Fiscal Year Ended March 31, 2024

May 10, 2024

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

1

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

Overview of Consolidated Results of Operations(YoY Change)

Yodogawa Steel Works, Ltd.

(Billions of yen, rounded down to the nearest 10 million yen)

FY3/24

FY3/23

ChangeChange (%)(7.4)%Net sales
Japan: Decreased due to lower sales volume ofsteel sheets although selling prices improved
Overseas: Decreased because of a lower export
sales volume despite higher sales volume at
SYSCO in Taiwan(5.1)%

Operating profit
Decreased because price revisions were offset bylower sales volume
Non-operating income
Gain on sale of investment securities and otheritems

Net sales

203.95220.31(16.35)(Gross profit)

31.76

32.66

(0.89)(Selling, general and administrative
expenses)

19.75

19.99

(0.24)

Operating profit

12.01

12.66

(0.64)(Non-operating income)

3.50

5.35

(1.84)(Non-operating expenses)

0.32

0.32

(0.00)

15.20

17.68

(2.48)(Extraordinary income)

1.35

0.18

1.16

(Extraordinary losses)

8.47

1.00

7.46

Profit before income taxes

8.08

16.86

(8.78)(Income taxes)

2.21

4.97

(2.76)(Profit attributable to non-controllinginterests)

1.41

1.29

0.11

Profit attributable to ownersof parent

4.45

10.59

(6.13)(EPS (Yen/Share)

154.29367.13(212.84)

Comprehensive income

16.28

14.91

1.37

Ordinary profit

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Remarks(14.0)%
Extraordinary income
Gain on sale of non-current assets
Extraordinary losses
Provision for product warranties(52.1)%(57.9)%

Comprehensive income
FY3/24: Profit of 5.8 billion yen, remeasurementsof defined benefit plans (net of tax) of 6.3 billion
yen, foreign currency translation adjustment of
3.3 billion yen, and others

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

1Overview of Consolidated Results of Operations(vs. Forecasts)

2

Yodogawa Steel Works, Ltd.

(Billions of yen, rounded down to the nearest 10 million yen)

Consolidated

Results

Forecasts

Differences(Announced in February 2024)

Net sales

203.95205.00(1.04)

Operating profit

12.01

11.40

0.61

Ordinary profit

15.20

14.50

0.70

Profit attributable toowners of parent

4.45

9.10

(4.64)

Remarks• Operating profit:
Higher than forecast because the forecast used conservative estimates of the cost of energy and other items• Profit attributable to owners of parent:
The provision for product warranties is recorded in the current fiscal year as it has become possible to make a reasonablecalculation. (Yodogawa Steel Works)
Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

3

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

Consolidated Net Sales

2

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)

220.31201.65154.06

FY3/20203.95212.00145.96

FY3/21

FY3/22

FY3/23

FY3/24

FY3/25
Forecast* Accounting Standard for Revenue Recognition has been applied starting with the
beginning of FY3/22. FY3/21 information in this material have been adjusted
retroactively to conform with this accounting standard.

Breakdown of the 16.35 billion yen decrease in net sales:•
Yodogawa Steel Works: (15.69) billion yen (145.35→129.66)
Sales volume declined for both specific high-demand customers and general distribution due to flat construction
demand. For building material products, the sales volume of roofing materials decreased, and for exterior products,
the sales volume of storage sheds decreased.
•
Taiwan subsidiary Sheng Yu Steel Co., Ltd. (SYSCO): (0.48) billion yen (53.73→53.24)
Sales volume in Taiwan increased, but export sales volume decreased despite a moderate recovery in demand.
•
Chinese subsidiary Yodogawa Shengyu (Hefei) High-Tech Steel Co., Ltd. (YSS): (0.62) billion yen (12.40→11.78)
Sales volume for home appliance and exports decreased, while sales volume for building materials increased•
Thai subsidiary PCM Processing (Thailand) Ltd. (PPT): (0.51) billion yen (5.19→4.67)
Sales volume for AC outdoor units decreased due to inventory adjustment
Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

3

4

Consolidated Profit and Loss

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)

Consolidated operating profit

17.91

18.40

17.68

Consolidated ordinary profit
Profit attributable to owners of parent

15.20

14.34
12.66
9.79

11.90

12.01

11.10

10.59

9.78

7.88

7.42

6.25

5.48

4.45

3.86

FY3/20FY3/21

FY3/22

FY3/23

FY3/24

FY3/25
Forecast

Breakdown of the 0.64 billion yen decrease in operating profit:•
Yodogawa Steel Works: (1.86) billion yen (11.03→9.16)
Although selling prices improved, earnings were down mainly because of a lower sales volume in the steel sheet business•
SYSCO: +0.93 billion yen (2.29→3.23)
Although sales volume of export sales decreased, earnings increased due to a recovery in sales volume in Taiwan.
•
YSS: (0.20) billion yen ((0.54)→(0.74))
Suffered a downturn in business performance due to the prolonged sluggish real estate market in China.
•
PPT: +0.12 billion yen (0.30→0.43)
Earnings increased chiefly because of improved profitability, despite a decrease in sales volume.
Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

5

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

Analysis of Changes in Operating Profit((1) Consolidated/YoY Change)

4

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)

12.66
0.86

0.34

Higher earnings atoverseas subsidiaries

Higher earnings
at subsidiaries in
Japan

0.01

12.01

(1.86)

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

FY3/24
Operating profit

Adjustment
for consolidation

Lower earnings at
Yodogawa SteelWorks

FY3/23Operating profit

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 20245

Analysis of Changes in Operating Profit((2) Yodogawa Steel Works/YoY Change)

6

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)

1.41

11.03

0.93
9.16

(0.04)(4.17)

FY3/24
Operating profit

Inventoryvaluation, etc.

7

Lower fixed andselling expenses

Lower energy costs

Changes in sales
and unit prices

FY3/23Operating profit

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

Segment Information

6

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)

Net sales
FY3/24
Steel Sheetrelated

FY3/23

Segment profit
Change (%)

FY3/24

FY3/23

Change (%)

194.03210.95(8.0)%

11.95

13.31

(10.2)%

Roll

3.12

2.92

6.6%

0.05

(0.26)-

Grating

3.43

3.50

(2.0)%

0.20

0.05

302.5%

Real Estate

1.28

1.23

3.8%

0.81

0.78

4.0%

201.87218.61(7.7)%

13.00

13.88

(6.1)%

Others

2.08

1.69

23.0%

0.37

0.23

58.5%

Total

203.95220.31(7.4)%

13.41

14.12

(5.0)%(1.39)(1.45)

12.01

12.66

Total reportablesegments

Adjustment
Amounts shown on
the consolidated
statement ofincome203.95220.31

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

(7.4)%

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved(5.1)%

7

8

Segment Information (Steel Sheet-related Business (1))

Segment sales

Yodogawa Steel Works, Ltd.

(Billions of yen, rounded down to the nearest 10 million yen)

250.00210.95
192.42200.00150.00142.41137.09FY3/20FY3/21

194.03100.00

50.00

0.00

FY3/22

FY3/23

FY3/24

Segment profit
16.00

14.21

14.00

13.31
11.95

12.00

10.00
8.00

8.25
5.89

6.00
4.00
2.00
0.00

FY3/20FY3/21

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

9

FY3/22

FY3/23

FY3/24

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

Segment Information (Steel Sheet-related Business (2))

8

Yodogawa Steel Works, Ltd.

Steel Sheet (Japan)• For specific high-demand customers
Building materials: The sales volume of galvanized steel sheets decreased because ofdelays at construction projects due to the shortage of construction
workers, high cost of building materials, and imports of inexpensive
materials. The sales volume of pre-painted steel sheets decreased
because of the low level of housing starts.
Electrical products: The sales volume decreased due to reactionary downturn from stay-athome demand during the pandemic mainly in the first half of the year
and price hikes, despite slight demand recovery in the second half.
呌 Lower sales for specific high-demand customers although there were activities forraising selling prices and increasing market share.
• For general distribution
The sales volume decreased due to sluggish demand in residential construction projects
caused by decline in consumers’ willingness to purchase, despite the steady demand byconstruction of semiconductor-related plants and warehouses in non-residential
construction projects.
呌 In Japan, sales and earnings decreased despite the rise of selling prices of all types ofsteel sheets.
Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

910

Segment Information (Steel Sheet-related Business (2))

Yodogawa Steel Works, Ltd.

Steel Sheet (Overseas)• Overseas
SYSCO (Taiwan): The sales volume increased both in galvanized steel sheets andpre-painted steel sheets due to expanded share by developmentof new applications and demand, despite the shrinking domestic
market in Taiwan.
呌 SYSCO sales were lower but earnings increased due to higher sales volume.
YSS (China):

Performance was held down by a lower sales volume ofgalvanized steel sheets, real estate market downturn, andintense price-based competition, although the sales volume of
pre-painted steel sheets increased.

PPT (Thailand): Earnings were higher thanks to the effort to maintainappropriate prices, despite a lower sales volume caused byproduction adjustment mainly for customers in AC market.

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

11

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

Segment Information (Steel Sheet-related Business (3))

10

Yodogawa Steel Works, Ltd.

Yodogawa Steel Group Primary Sales Volume of Steel Sheet Products(Full year; before eliminations for consolidation)(10,000 tons)

111
98

101
95

PPT
YSS
SYSCO
YSW
Total

FY3/20
3
7
33
56
98

FY3/21
3
10
32
56
101

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

FY3/22
3
11
36
62
111

FY3/23
2
8
29
55
95

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

88

FY3/24
2
8
32
45
88
11

12

Segment Information (Steel Sheet-related Business (4))

Yodogawa Steel Works, Ltd.
(10,000 tons)

Regional Primary Sales Volume (before eliminations for consolidation)
120
100

111
98

101
95

88

80
60
40
20
0
Other
Oceania
North/Central/South America
Other Asia (excluding Middle East)
China/Hong Kong
TaiwanJapan
Total

FY3/20FY3/21

FY3/22

FY3/23

FY3/24

0
1
2
8
6
25
55
98

1
1
4
7
10
24
55
101

1
2
7
7
10
23
62
111

0
1
7
4
7
20
55
95

0
1
4
5
8
25
45
88

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

13

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

Segment Information (Steel Sheet-related Business (3))

12

Yodogawa Steel Works, Ltd.

Building Material (Exterior construction material products/Construction)• Sales of exterior construction material products decreased as thesales volume of siding materials was firm but the sales volume ofroofing materials declined.
• Construction sales rose because of increased construction projects,
including large commercial buildings and university buildings,
despite delays in certain construction projects due to price hikes inbuilding materials and labor shortages.

Building Material (Exterior products)• Sales remained strong for garages and large storage sheds.
• The sales volume of storage sheds declined mainly because consumers are
reluctant to make purchases due to inflation.
• Overall sales of exterior products decreased.
Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

13

14 Segment Information (Roll Business)
Segment sales

Yodogawa Steel Works, Ltd.

(Billions of yen, rounded down to the nearest 10 million yen)

3.50
3.00

3.12

2.92

2.83

2.68
2.34

2.50
2.00
1.50
1.00
0.50
0.00

FY3/20FY3/21

FY3/22

FY3/23

FY3/24

Segment profit
0.10

0.05

0.00
0.00
(0.10)(0.20)(0.30)(0.40)(0.26)(0.31)(0.41)(0.50)

FY3/20FY3/21

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

FY3/22

FY3/23

FY3/24

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

15 Segment Information (Grating Business)
Segment sales

14

Yodogawa Steel Works, Ltd.

(Billions of yen, rounded down to the nearest 10 million yen)

4.00

3.48

3.52

3.44

3.50

3.43

FY3/20FY3/21

FY3/22

FY3/23

FY3/24

3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00

Segment profit
0.25

0.20
0.20

0.17

0.15
0.10

0.10

0.08

0.05
0.05
0.00

FY3/20FY3/21

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

FY3/22

FY3/23Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

FY3/2415

16

Segment Information(Real Estate Business and Other Businesses)

Segment sales
6.00

Yodogawa Steel Works, Ltd.

(Billions of yen, rounded down to the nearest 10 million yen)

5.33

5.00
4.00

3.36

2.99

3.09

2.93

FY3/21

FY3/22

FY3/23

3.00
2.00
1.00
0.00

FY3/20FY3/24

Segment profit
1.30

1.40
1.20

1.03

1.06

FY3/20FY3/21

1.19
1.02

1.00
0.80
0.60
0.40
0.20
0.00

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

17

FY3/22

FY3/23

FY3/24

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

Segment Information(Roll, Grating, Real Estate and Other Businesses)

16

Yodogawa Steel Works, Ltd.

Roll Business• Despite lower sales volume, sales increased mainly due to improved
selling prices to steel industry, thus returning to profitability.

Grating Business• Earnings rose owing to improved selling prices despite a decline insales volume.
Real Estate Business and Other Businesses• Both sales and earnings remained almost at the same level as in
the same period of the previous fiscal year.

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved17

18 Consolidated Financial Position

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)

As of Mar. 31,2024

As of Mar. 31,
2023

Total assets

265.86251.05

14.80

5.9%

Current assets

156.11150.865.25

3.5%

Non-current assets

109.74100.189.55

9.5%

Liabilities

52.03

49.15

2.88

5.9%

Current liabilities

28.11

35.09

(6.97)(19.9)%

Non-current liabilities

23.91

14.05

9.85

70.1%

Net assets

213.83201.90

11.92

5.9%

Shareholders’ equity

156.55155.650.90

0.6%

Accumulated othercomprehensive income

33.02

24.01

9.00

37.5%

Non-controlling interests

24.12

22.09

2.03

9.2%

BPS (Yen/Share)

6,561.18

6,223.26

337.92

Shareholders’ equity

189.58179.67

9.90

Equity ratio

71.3%

71.6%

(0.3)pt

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Remarks

ChangeChange (%)

Assets(Current) Increase in cash anddeposits.
(Non-current) Increase in investment
securities, etc.
Liabilities(Current) Decrease in notes andaccounts payable-trade, etc.
(Non-current) Provision for productwarranties, etc.
Shareholders’ equity
FY3/24䠖Dividends of (3.67) billion yen,etc.
Accumulated other comprehensive
incomeIncrease in valuation difference on
available-for-sale securities, increasein foreign currency translation
adjustment, etc.

5.5%

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

19 Consolidated Forecasts

18

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)

FY3/24

YoY

FY3/23

ChangeRemarks(Amounts shown are approximate)

Change (%)

Cash flows fromoperating activities

21.52

17.33

4.18

24.1%

Cash flows frominvesting activities(0.80)(3.16)

2.35-

Decrease in purchase of property, plantand equipment

Cash flows fromfinancing activities(5.36)(5.09)(0.26)-

Increase in dividends paid

Cash and cash equivalents

57.39

40.71

16.68

41.0%

(Billions of yen)

Decrease in inventories, decrease in tradereceivables, etc.

Cash and cash equivalents at end of period

57.39
34.65

FY3/20

43.11

40.71
30.96

FY3/21

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

FY3/22

FY3/23Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

FY3/2419

20 Capital Expenditures and Depreciation

Yodogawa Steel Works, Ltd.

(Property, plant and equipment including construction in progress) (Billions of yen, rounded down to the nearest 10 million yen)

FY3/24

YoY

FY3/23

ChangeChange (%)

Capital expenditures(consolidated)

3.00

5.65

(2.64)(46.8)%

Depreciation(consolidated)

4.50

4.87

(0.37)(7.7)%

Capital expenditures(non-consolidated)

1.84

1.72

0.11

6.9%

Depreciation(non-consolidated)

2.18

2.26

(0.08)(3.6)%

Capital expenditures

Depreciation

8.74
6.91
5.65
3.66

4.87

3.53

3.00

2.22

FY3/20FY3/21

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

4.50

3.99

FY3/22

FY3/23

FY3/24

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

21 Major Capital Expenditures

20

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)Companies

FY3/24

Upcomingschedule

Projects

Completion
date

Total
investments(based on bookvalue)

Yodogawa
Steel Works

Osaka Plant: No. 5 color coating line
Update of inverter

June 2023

0.16

Yodogawa
Steel Works

Kure Plant: No.5 plating line
Modification of PM pot

Late 2024

0.25

Yodogawa
Steel Works

Ichikawa Plant: No. 4 plating line
Update of electric equipment

October 2024

0.19

Yodogawa
Steel Works

Ichikawa Plant: Rolling Mill
Update of main machine

November
2025

0.39

Keiyo Tekko
Futo

Update of outdoor craneJanuary 2025

0.37

SYSCO

Pyeongnam Plant: Solar power
generation equipment

September
2025

1.68

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved21

22 Consolidated Forecasts

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)

FY3/25
Forecast

YoY

FY3/24
Results

Amount%Consolidated
Non-consolidated

Net sales

212.00203.958.04

3.9%

Operating profit

11.10

12.01

(0.91)(7.6)%

Ordinary profit

18.40

15.20

3.19

21.0%

Profitattributable toowners of parent

11.90

4.45

7.44

167.0%Net sales

127.00129.66(2.66)(2.1)%

Operating profit

8.80

9.16

(0.36)(4.0)%

Ordinary profit

16.30

12.30

3.99

32.5%

Profit11.50(2.74)

14.24-

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

23 Forecasts by Country and Region

22

Yodogawa Steel Works, Ltd.

Steel demand is expected to remain unstable due to theprolonged real estate downturn in China and geopoliticalrisks such as Ukraine and the Middle East situations.

Japan• A decrease in earnings is expected due to rising costs(raw material prices, logistics costs, labor costs, etc.) in
addition to sluggish demand in construction in Japan.

Overseas• A decrease in earnings is expected due to rising costs,
despite expectations for an increase in sales volume
by market-specific sales strategies.
Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved23

24 Dividends

Yodogawa Steel Works, Ltd.

(Yen/Shares)

Interim dividend

Year-end dividend

EPS (Consolidated)(411.85)

367.13339.77(309.00)

215.58200.00(209.00)
131.14154.29111.00102.0070.00
40.00

145.00

75.00
71.00

67.00

40.00

(100.00)

30.00

35.00

35.00

40.00

55.00

FY3/20FY3/21

FY3/22

FY3/23

FY3/24

FY3/25 Forecast(Figures in parenthesis are estimates)••

We paid an interim dividend of 55 yen, a dividend of 145 yen at the year’s end, making an annual dividendof 200 yen per share.
For FY3/25, we plan to pay an interim dividend of 100 yen, a dividend of 209 yen at the year’s end, making
an annual dividend of 309 yen per share.

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

25 References (1)24

Yodogawa Steel Works, Ltd.
(Billions of yen, rounded down to the nearest 10 million yen)

Regional Sale
250.00220.31203.95201.65200.00154.06150.00145.96100.00
50.00
0.00
Japan
TaiwanChina/Hong Kong
Other Asia (excluding Middle East)
North/Central/South America
Oceania
Other
Total

FY3/20
108.7
26.81
6.52
8.09
2.56
1
0.366
154.06

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

FY3/21
99.73
24.95
8.88
7.19
3.47
1.04
0.67
145.96

FY3/22128.74
37.35
12.89
8.44
10.34
2.16
1.69
201.65

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

FY3/23147.23
37.56
10.66
8.55
13.71
2.38
0.19
220.31

FY3/24131.95
42.86
11.51
8.94
7.53
0.82
0.31
203.9525

26 References (2)Yodogawa Steel Works, Ltd.

Regional sales ratio (FY3/24)(Billions of yen, rounded down to the nearest 10 million yen)

North / Central/ South America
Other Asia
3.7%
(excluding Middle East)
4.4%

Oceania
0.4%

Other
0.2%

Japan

China / Hong Kong
5.6%

TaiwanChina / Hong Kong
Other Asia
(excluding Middle
East)
North / Central/ South America

Taiwan
21.0%
Japan
64.7%

Oceania
Other

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved

27 References (3)26

Yodogawa Steel Works, Ltd.

Number of Employees/Personnel Expenses(Billions of yen, rounded down to the nearest 10 million yen)

Number of employees (consolidated)

Number of employees (non-consolidated)

Personnel expenses (consolidated)

Personnel expenses (non-consolidated)(17.10 )

16.64

16.46

15.45
14.54

14.39

10.16

10.16

11.13

2,431

1,204

FY3/201,233

FY3/21

1,206

FY3/22

Yodogawa Steel Group Financial Results for the Fiscal Year Ended March 31, 2024

2,405

2,395

2,392

2,381

10.76

10.31

1,191

FY3/23Copyright (C) 2024 Yodogawa Steel Works, Ltd. All Rights Reserved(11.15)(2,405 )1,217

FY3/24(1,220 )FY3/25 Forecast27