August 6, 2024

Company name: Osaki Electric Co., Ltd.
Representative: Chairman and CEO
Yoshihide Watanabe(Code: 6644, TSE Prime Market)
Contact: Director and Senior Managing Executive Officer
Head of Group Strategy Division
Ryuichi Ueno

Notice Concerning Revision of Financial Forecasts for the Fiscal Year ending March 2025
Osaki Electric Co., Ltd. (Tokyo, hereinafter “Osaki”), at a board meeting held today approved the sale of certain
fixed assets to reinforce, in part, the company’s business portfolio management.
Since the Osaki Group is also selling its securities holdings under its policy of reducing strategic shareholdings,
these sales gains are expected to be booked as extraordinary gains.
Furthermore, recent performance trends are expected to drive annual sales and operating income higher than theinitial forecasts. Therefore, the consolidated earnings forecasts announced on May 9, 2024 for the second quarterand full year ending in March 2025 were revised as follows.
1. Revision of financial forecast for the six months ending September 30, 2024
(From April 1, 2024 to September 30, 2024)

Net Sales(Million yen)

Operating Income(Million yen)

Ordinary Income(Million yen)

Net Income
Attributable to
Owners of Parent(Million yen)

Net Income
Attributable to
Owners of Parent
per Share(Yen)Previous Forecasts (A)41,0001,000

1,000300

6.39

Revised Forecasts (B)43,700

1,500

1,400

400

8.53

Change (B-A)

2,700

500

400

100

+6.6

+50.0

+40.0

+33.3

44,174

2,325

2,415

1,356

Rate of Change (%)(Reference) Results forthe half of fiscal year
2023

28.97

2. Revision of consolidated financial results forecast for the fiscal year 2024
(From April 1, 2024 to March 31, 2025)

Net Sales(Million yen)

Operating Income(Million yen)

Ordinary Income(Million yen)

Net Income
Attributable to
Owners of Parent(Million yen)

Net Income
Attributable toOwners of Parentper Share(Yen)Previous Forecasts (A)90,000

4,700

3,900

2,000

42.63

Revised Forecasts (B)97,000

5,000

4,600

2,700

57.55

Change (B-A)

7,000

300

700

700

+7.8+6.4+17.9+35.0

95,147

5,874

5,488

2,407

Rate of Change (%)(Reference) Results forthe previous fiscal year
ended March 31, 2024

51.36

3. Reasons for the Revision
As shown in the table above, the previous forecast has been revised due to the following factors.
(1) Net Sales and operating Income
For the consolidated results of the second quarter and the full fiscal year, net sales are expected to exceed the initialforecast, because smart meter business sales for Smart meters & solutions in Japan will exceed the initial forecast.
Profits are also expected to exceed the initial forecast because of the increased sales and restrained expenses.
For Smart meters & solutions overseas, sales are expected to increase due to a revised exchange rate caused bydepreciation of the yen, despite the business performance outlook largely in line with initial forecasts.
(2) Ordinary Income and profit attributable to owners of parent
In order to devise effective use of management resources and improve asset efficiency, the board of directors has
approved the sale of certain land and buildings held by the real estate business. Accordingly, a gain on sale of fixed
assets is expected to be recorded as an extraordinary gain for the full fiscal year.
Contemporaneous sales gains of investment securities associated with the sale of strategic shareholdings are also
expected to be recorded as extraordinary gains in the second quarter and full year.
In addition, overseas subsidiaries had budgeted business structure improvement expenses, which were included in
non-operating expenses under the initial consolidated earnings forecast figures for the full year. After careful
examination of the details of these expenses, the line item was re-classed to extraordinary loss.

・The forecast figures shown in this document are based on the information available at the time of preparation and theactual figures may differ from the forecast figures due to various factors.