August 2, 2022

Osaki Electric Co., Ltd.
Tokyo Stock Exchange Prime Market
Securities code: 6644

FY2022 First Quarter
Summary of Consolidated Financial Results(Three Months ended June 2022)⚫ Consolidated sales increased by 9.4% year on year to \19.4 billion.
Operating income increased by 18.7% to \0.54 billion. Net income
attributable to owners of parent was \2.1billion due mainly to the gainon sales of overseas subsidiary, in contrast to \0.1 billion in the same
period of the previous fiscal year.
⚫ In Japan, sales and profits increased due to sales increase in solutions
and switch gear business, despite the slight decrease in the smart
meter sales.
⚫ In the overseas, overall sales increased from sales increase inOceania, despite a decrease in shipments to UK due to electronic
component shortages. Profits decreased from rise in component andfreight costs, and an increase in sales, general and administrativeexpenses.
1. Consolidated Financial Results(Millions of yen)
YoY Change

FY2021 1Q

FY2022 1Q

17,72010,6147,153
64
138(252)
4,077

19,377
11,842
7,202
301
139(107)
4,303

Ratio to sales

23.0%

22.2%

3,622

3,762

Ratio to sales

20.4%

19.4%

455

540

Ratio to sales

2.6%

2.8%

sal meters & solutions in Japan
Smartes

Adjustment337
163(116)69
1627(159)
568(1)

289(322)
121(1)(2)+85.9%－－(1.7)%－

Ordinary income

571

547(23)(4.2)%

Profit attributable to owners of parent

128

2,116

1,987

－

Net income per share（yen）

2.62

44.22

41.60

－

Net sales
Smart meters & solutions in Japan
Smart meters & solutions overseas
Production equipment
Real estate
Adjustment

Gross profit
SG & A expenses
Operating income

Smart meters & solutions overseas
Production equipment
Real estate

1Amount

1,657
1,228
48236
0144
225%

+9.4%
+11.6%+0.7%+363.4%+0.5%－+5.5%(0.8)pt

140+3.9%(1.0)pt

85+18.7%+0.2pt2. Revenue by Business Portfolio (Excluding intercompany sales)（1）Smart meters & solutions in Japan(Millions of yen)
YoY Change

FY2021 1Q

FY2022 1Q

7,660
1,890
1,057
10,608

7,625
2,644
1,567
11,837

Smart meter business
Solution BusinessSwitchgear Business
Total

Amount%(35)7545091,228(0.5)%+39.9%+48.2%+11.6%*Referential figures based on managerial accounting.

Smart meter business: Sale of smart meters and measurement and control equipment
including smart meter peripheral devices for power companies.
Solution business: Provide services and products and deliver solutions to customers(other than power companies)
Switchgear business: Sale of switchgears（2）Smart meters & solutions overseas(Millions of yen)
YoY Change

FY2021 1Q

FY2022 1Q

2,186
3,163
1,304
282
6,937

2,780
2,510
1,416
419
7,127

\106.09/USD\116.34/USDOceaniaEuropeAsia
Middle East and others
Total
Average Exchange rate

Amount%594(653)
112
136
190

+27.2%(20.6)%+8.6%+48.3%+2.7%*Calculations are based on the annual securities report.

3. R&D expenditures, Depreciation, Capital expenditures(Millions of yen)
YoY Change

FY2021 1Q

FY2022 1Q

741
602
224

667
627
369

R&D expenditures
Depreciation
Capital expenditures

Amount%(74)24
144(10.1)%+4.1%+64.4%

4. FY2022 Consolidated Forecast
The consolidated forecast for the fiscal year ending March 31, 2023 isunchanged from the announcement on May 12, 2022. The Company is currently
assessing the ongoing operations for further analysis.
(Millions of yen)

1HNet sales
Operating income

Full-year

YoY Change

YoY Change

FY2021

FY2022
Forecast

Amount%FY2021

FY2022
Forecast

Amount%36,08739,000

2,912

+8.1%

76,18480,000

3,815

+5.0%

461

(200)

(661)

－

1,277

1,000(277)(21.7)%

Ordinary income
531(150)
(681)
－
1,189
1,100(89)(7.5)%
Profit attributable
(236)
1,300
1,536－(658)
1,500
2,158－
to owners of parent⚫ Forward-looking statements made in this material is based on management’s estimates, assumptions and projections at
the time of publication and do not represent a commitment that they will be achieved. A number of factors could cause
actual results to differ materially from expectations.
⚫ All amounts are in millions of yen rounded down unless otherwise stated.
Financial data (Excel/PDF) are available on our website (https://www.osaki.co.jp/en/ir/finance/financialdata.html).
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