November 8, 2022
Name of Company
Representative

K A G A E L E C T R O N I C S C O . , LT D .
Ryoichi Kado,
Representative Director, President & COO(Stock Code: 8154 Tokyo Stock Exchange, Prime Market)
Eiji Kawamura,Contact
Director, Managing Executive Officer
Head of Administration Headquarters
Tel: +81-(0)3-5657-0111

Notice regarding upward revision to forecasts for full-year
earnings, dividends of surplus, and dividends (dividend increase)
In light of recent earnings trends, KAGA ELECTRONICS CO., LTD. (hereinafter “the Company”)
hereby announces that, at a Board of Directors meeting held today, a resolution was passed to
upwardly revise the consolidated earnings forecasts announced on August 4, 2022, for thefiscal year ending March 31, 2023, and to upwardly revise dividends of surplus with a date ofrecord of September 30, 2022, and the year-end dividend forecast, as shown below.
1.Revision of earnings forecast
Revision to consolidated earnings forecast for the fiscal year ending March 31, 2023
(from April 1, 2022 to March 31, 2023)
Profitattributable Net income
to owners of per shareparentNet sales

Operatingincome

Ordinary
incomeMillion yen

Million yen

Million yen

Million yenyen

540,000

24,00024,50016,000609.58

Revised forecast (B)

570,000

28,00029,00020,000761.70Difference (B) – (A)30,000

4,000

4,500

4,000

Percent change (%)

5.6

16.7

18.4

25.0

495,827

20,915

21,456

15,401

Previous forecast (A)(Announced on August 4, 2022)(Reference)
Results for the fiscal year
ended March 31, 2022

576.46< Reasons for revision >Despite continuing shortages of certain semiconductors and electronic parts in theelectronic components business, consolidated net sales, operating income, ordinary income,and profit attributable to owners of parent for the first six months of the fiscal year ending
March 31, 2023, all exceeded internal forecasts. This was due to the Group leveraging its
procurement competencies as an independent trading company to capture robust demand
from a wide range of industries, as well as to greater-than-expected depreciation in the yen
forex rate, leading to record consolidated results for the six-month period.

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Because factors such as supply and demand trends in semiconductors and electronic parts,
the state of COVID-19 infections, the situation in Ukraine, and forex trends indicate thatcaution is required going forward, we took into account only consolidated performance trends
in the first six months when upwardly revising the consolidated earnings forecasts announced
on August 4, 2022, for the fiscal year ending March 31, 2023, as shown in the table above.
Furthermore, forecasts for the third quarter and beyond are unchanged from the previous
outlook.
2.Distribution of dividends from surplus (interim dividend)
Determined amount
Date of record

Dividend per share

Most recent
dividend forecast

Dividend forprevious fiscal year

(Announced August 4, 2022)(FY ended March 31, 2022)

September 30, 2022

Same as left

September 30, 2021

100.00 yen

70.00 yen

45.00 yen(Ordinary dividend 70 yen)
(Extraordinary dividend 30 yen)(Ordinary dividend 40 yen)
(Extraordinary dividend 5 yen)

Total dividends

2,626 million yen-

1,180 million yen

Effective date

December 2, 2022-

December 3, 2021

Source of dividends

Retained earnings-

Retained earnings

3.Revision of dividend forecastAnnual dividends
End of 1st halfPrevious forecast(Announced May 12, 2022)

70.00 yen

Year-endTotal

80.00 yen

150.00 yen(Ordinary dividend 70 yen) (Ordinary dividend 140yen)(Commemorative dividend 10 yen) (Commemorative dividend 10yen)

100.00 yen(Ordinary dividend 70yen) (Ordinary dividend 140yen)

Revised forecast

Dividends for thecurrent fiscal year

(Reference)
Dividends for theprevious fiscal year

200.00 yen(Commemorative dividend 10yen) (Commemorative dividend 10yen）(Extraordinary dividend 20yen) (Extraordinary dividend 50yen)

100.00 yen(Ordinary dividend 70yen)(Extraordinary dividend 30yen)

45.00 yen

75.00 yen

120.00 yen(Ordinary dividend 40yen) (Ordinary dividend 40yen) (Ordinary dividend 80yen)(Fiscal year ended March 31, 2022) (Extraordinary dividend 5yen) (Extraordinary dividend 35yen) (Extraordinary dividend 40yen)‐2‐

＜Reasons for revision＞
The Company considers the return of profits to shareholders to be one of its mostimportant management policies, and in addition to endeavoring to strengthen its financial
position and management foundation from a long-term perspective, has a basic policy ofmaintaining stable and ongoing dividends commensurate with consolidated results.
As explained above, consolidated performance for the fiscal year ending March 31, 2023, is
expected to exceed the previous forecasts. Accordingly, the interim dividend has been
upwardly revised from the previously forecast 70 yen per share to 100 yen per share throughthe addition of an extraordinary dividend of 30 yen, while the year-end dividend has been
upwardly revised through the addition of an extraordinary dividend of 20 yen, such that bothinterim and year-end dividend are 100 yen per share.
As a result, the annual dividend will be 200 yen per share, an increase of 80 yen from thedividend paid in the previous fiscal year.
(Note) The above forecasts are based on the information currently available to the Company on the date of the releaseand certain assumptions deemed reasonable. Actual results may vary from the forecast for a variety of reasons.

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