FACTBOOK
7467/TSE Prime Market, NSE Premier Market

HAGIWARA ELECTRIC HOLDINGS CO., LTD.
For the fiscal year ended on March 31, 2022

Contents
Corporate Profile

1-2

Consolidated Balance Sheet

3-4

Consolidated Statement of Income

5

Consolidated Statement of Cash Flows6

Net Sales Breakdown by Business Segment
and Major Client

7

Consolidated Profitability Indicators

8

Consolidated Profitability/Efficiency Indicators

9

Consolidated Efficiency/Stability Indicators

10

Stock Information

11-12

Corporate Vision

13

Our BusinessCorporate Profile (Operating companies in Japan)

14-16
17

Corporate Profile
Corporate Outline (as of March 31, 2022)
Name of Company

HAGIWARA ELECTRIC HOLDINGS CO., LTD.

Head Office2-2-1 Higashisakura, Higashi-ku, Nagoya City, Aichi Pref. 461-8520 Japan

Representatives

Mitsuo Iwai, Chairman and Representative Director
Moritaka Kimura, President and Representative Director

EstablishedMarch 31, 1948

Share Capital

4,361,243,696 yen

Number of Employees

Consolidated: 609 *Excluding temporary employees

Major Business

Formulation and management of business strategies for group companies selling electronic
devices and electronic equipment and manufacturing and selling FA equipment

Subsidiaries

HAGIWARA ELECTRONICS CO., LTD.
HAGIWARA TECHNO SOLUTIONS CO., LTD.

Organizational structure of the GroupAs of March 31, 2022

Copyright(c) HAGIWARA
ELECTRIC
CO., LTD.
RightsReserved.
Copyright(c) HAGIWARA
ELECTRICHOLDINGS
CO.,AllLTD.
All Rights
Reserved.

1

Corporate Profile
Corporate History Timeline
1948

Hagiwara Denki Kogyo was founded.

1956

Partnership with NEC Corporation initiated and wholesale
division selling electronic components established.

1965

Company name changed to HAGIWARA ELECTRIC CO., LTD.

1981

The Nisshin Office (production factory) was established.

1995

Initial public offering of shares

1998

The Miyoshi Distribution Center was established.

2011

The Korea local subsidiary was established.
The China (Free Trade Zone, Shanghai) local subsidiary wasestablished.

2014

Listed on the 1st Section of Tokyo Stock Exchange
Listed on the 1st Section of Nagoya Stock Exchange
The Thailand local subsidiary was established.

2018

Company name changed to HAGIWARA ELECTRICHOLDINGS CO., LTD., and status changed to holding
company.
HAGIWARA HOKUTO TECHNO CO., LTD. was established.

2022

Listed on Tokyo Stock Exchange Prime Market
Listed on Nagoya Stock Exchange Premier Market

1958 Hagiwara Denki Kogyo Co., Ltd. was founded.
1966 The Tokyo Branch Office was established.
1993 The Kyushu Office was established.
1996 The Singapore local subsidiary was established.
2006 The US local subsidiary was established.
The China (Shanghai) local subsidiary was established.
2012 The Germany local subsidiary was established.
The Data Center was opened.
2016 The Kansai Branch was established.

2019 The India local subsidiary was established.

Group Network

Hagiwara Electric Europe GmbHHagiwara Electric (Thailand) Co., Ltd.
Hagiwara America, Inc.
Hagiwara (Shanghai) Co., Ltd.
Hagiwara Techno Solutions (Shanghai) Co., Ltd.
<Japan>HAGIWARA ELECTRIC HOLDINGS CO., LTD.
HAGIWARA ELECTRONICS CO., LTD.
HAGIWARA TECHNO SOLUTIONS CO., LTD.
HAGIWARA HOKUTO TECHNO CO., LTD.
Hagiwara Electronics
India Private Limited

Hagiwara Electric Korea Co., Ltd.

Singapore Hagiwara Pte. Ltd.

Trend of Business Performance(¥ million)

Net sales

200,000

Operating profit margin

5.0%
158,427

160,000
3.2%
120,000

2.9%
2.4%
87,63280,0003.2%

89,014

93,261

3.0%
101,755

3.2%
112,249

3.6%
3.3%
119,021
128,206

127,830
2.7%

2.8%

4.0%

3.0%

2.0%

85,2471.0%

40,0000.0%

0FY3/13

FY3/14

FY3/15

FY3/16

FY3/17

FY3/18

FY3/19FY3/20FY3/21

FY3/22

Note: The Company transitioned to a holding company system on April 1, 2018.
The business performance up to FY3/18 in this FACTBOOK refers to the figures of the former HAGIWARA ELECTRIC CO., LTD. before the transition.

Copyright(c) HAGIWARA
ELECTRIC
CO., LTD.
RightsReserved.
Copyright(c) HAGIWARA
ELECTRICHOLDINGS
CO.,AllLTD.
All Rights
Reserved.

2

Consolidated Balance Sheet（ \ million）
AssetsTotal assets
Current assets
Cash and deposits
Notes and accounts receivable - trade
Notes receivable - trade
Accounts receivable - trade
Contract assets
Electronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Other
Accumulated depreciation
Other, net
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts

FY3/18

FY3/19FY3/20FY3/21

FY3/22

57,68852,8606,610
30,557

63,17958,017
7,508
33,007

68,29362,971
7,753
32,62373,34267,753
9,713
38,47882,482
76,729
8,506

－
－
－
1,594
12,860
341
276
622
(2)
4,828
2,629
1,344
(874)
469
52
(39)
12
1,917
131
(60)
70
3
707
(553)
154
108
2,089
1,448

－
－
－
1,629
14,170
524
259
921
(3)
5,162
2,677
1,384
(913)
470
54
(40)
13
1,917
155
(65)
90
7
774
(596)
177
218
2,266
1,317

－
－
－
1,629
16,866
349
247
3,504
(2)
5,321
2,772
1,429
(953)
476
54
(42)
11
1,917
253
(106)
147

－
－
－
1,688
16,389
408
240
836
(2)
5,588
2,750
1,446
(993)
452
46
(36)
10
1,917
321
(169)
151

－
853
(633)
219
199
2,349
1,250

－
902
(683)
219
186
2,651
1,504

－
289

－
396

－
468

－
352
(0)

－
553

－
630

－

－

－
431
8
705
(0)

－
279
26,149141
9,471
27,641
603
861
3,090
(17)
5,753
2,713
1,492
(1,038)
454
48
(40)
7
1,903
383
(214)
169
1
918
(741)
176
243
2,796
1,444
44
584
96
670
(44)

Note: The Company applied the "Partial Amendments to Accounting Standards for Tax Effect Accounting" (Accounting Standards Board of Japan (ASBJ) Statement
No. 28 issued on February 16, 2018) from FY3/19. The figures for FY3/18 are after retrospective application for comparability.

Copyright(c) HAGIWARA
ELECTRIC
CO., LTD.
RightsReserved.
Copyright(c) HAGIWARA
ELECTRICHOLDINGS
CO.,AllLTD.
All Rights
Reserved.

3

Consolidated Balance Sheet（ \ million）
Liabilities
Total liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Accounts payable - other
Income taxes payable
Contract liabilities
Provision for bonuses for directors (and other officers)
Provision for loss on order received
Other
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Retirement benefit liability
Asset retirement obligations
Other
Net assets
Total net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share acquisition rights
Non-controlling interests
Total liabilities and net assets

FY3/18

FY3/19FY3/20FY3/21

FY3/2228,80824,536
11,585
2,914
6,582
918
21

29,73025,23011,727
3,159
5,536
925
26

36,28931,095
17,295
2,663
5,348
2,700
67

43,11336,531
17,376
3,126
10,129
1,025
98

－
526

－
1,536

33,17827,462
13,738
2,252
5,148
600
62
3,538
671

－
604

－
48
11
1,927
4,272
3,925
44
0
119
80
102

－
93

－
77

－
75

－
992
1,106
109

－
2,225
4,499
4,025
59
0
224
86
104

－
1,373
5,715
5,175
83
0
279
97
79

－
2,340
5,194
4,875
86
79

－
2,567
6,582
6,250
78
79

－
99
53

－
119
54

28,88028,347
3,916
4,407
20,378
(354)
528
388

33,44931,1544,361
4,861
22,274
(343)
263
296

35,11432,9594,361
4,867
24,063
(332)
69
225

37,052
34,537
4,361
4,868
25,626
(319)
410
414

－
239
(98)
3

－
181
(214)

－
128
(284)

－
103
(107)

39,36936,607
4,361
4,872
27,679
(305)
638
325
(3)
413
(97)

－
2,032
63,179－2,085
68,293－
2,103
73,342－
2,123
82,482－
57,688

Copyright(c) HAGIWARA
ELECTRIC
CO., LTD.
RightsReserved.
Copyright(c) HAGIWARA
ELECTRICHOLDINGS
CO.,AllLTD.
All Rights
Reserved.

4

Consolidated Statement of Income（ \ million）

FY3/18

FY3/19FY3/20FY3/21

FY3/22

Net sales

112,249

119,021

128,206

127,830

158,427

Cost of sales

101,365

106,825

115,491

115,941

143,814Gross profit

10,883

12,196

12,714

11,888

14,612

Selling, general and administrative expenses

7,251

7,876

8,541

8,420

10,255

Operating profit

3,631

4,319

4,173

3,468

4,356

Non-operating income

96

82

105

212

114

Interest income

6

9

2

6

15

Dividend income

15

19

18

19

19

Insurance claim income

－

－

27

－

－

Foreign exchange gains

－

－

－

37

38

Income from fees for business

－

－

－

28

－

Surrender value of insurance policies

30

0

－

－

－

Gain on valuation of investment securities

17

24

－

53

－

Compensation income

－
26

－
30

－
58

24

10

42

30

Non-operating expenses

140

126

184

124

135

Interest expenses

39

43

50

34

36

Loss on valuation of investment securities

－
9

－
27

18

－

－

Foreign exchange losses

72

－

－

Loss on sale of trade receivables

49

32

17

24

18

Commission expenses

23

6

12

53

15

Share issuance costs

10

12

－

－

Provision of allowance for doubtful accounts

－

－

－

－

－
51

Other

8

4

13

12

13

3,587

4,275

4,093

3,556

4,335
78

Other

Ordinary profit
Extraordinary income

7

3

1

37

Gain on sale of non-current assets

0

－

0

0

0

Gain on sale of investment securities

0

3

1

36

77

Gain on liquidation of subsidiaries and associates

7

－
22

－
7

－
0

－
10

Extraordinary losses

3

Loss on disposal of non-current assets

2

1

0

0

9

Loss on valuation of investment securities

－

20

0

－

－

Loss on sale of investment securities

－

－

－

－

－
0

4

Loss on liquidation of investment securities

－

－

－

Loss on sale of membership

1

－

－

－

－

Loss on valuation of membership

－

－

2

－

－

Profit before income taxes

－
3,591

－
4,256

－
4,087

－
3,593

4,403

Income taxes - current

1,012

1,445

1,320

1,268

1,562

Income taxes - deferred

37

(11)

(8)

(43)

(89)

Total income taxes

1,050

1,433

1,311

1,225

1,473

Profit

2,540

2,823

2,775

2,367

2,930

Profit attributable to non-controlling interests

－
2,540

17

59

53

54

2,806

2,716

2,314

2,876

Other

Profit attributable to owners of parent

Copyright(c) HAGIWARA
ELECTRIC
CO., LTD.
RightsReserved.
Copyright(c) HAGIWARA
ELECTRICHOLDINGS
CO.,AllLTD.
All Rights
Reserved.

05

Consolidated Statement of Cash Flows（ \ million）

FY3/18

FY3/19FY3/20FY3/21

FY3/22(1,829)

419

3,591

4,256

1,092

887

(4,905)

4,087

3,593

172

4,403

186

215

247

Loss (gain) on sale and retirement of non-current assets

282

2

1

0

(0)

8

Increase (decrease) in allowance for doubtful accounts

(2)

0

(0)

0

58

Increase (decrease) in provision for bonuses for directors(and other officers)

(3)

44

(16)

(1)

34

Increase (decrease) in retirement benefit liability

(56)

(61)

(44)

(25)

－

Decrease (increase) in retirement benefit asset

－

－

－

－

(71)

Increase (decrease) in provision for loss on order received

10

(11)

Interest and dividend income

(22)

(28)

－
(20)

－
(26)

－
(34)

Cash flows from operating activities
Net cash provided by (used in) operating activities
Profit before income taxes
Depreciation

Interest expenses

39

43

50

34

36

Surrender value of insurance policies

(30)

(0)

Loss (gain) on valuation of investment securities

(17)

(9)

－
18

－
(53)

－
1

Loss (gain) on sale of investment securities

(0)

(3)

3

(36)

(77)

Loss (gain) on liquidation of subsidiaries and associates

(7)

－

－

－

－

Loss (gain) on sale of membership

1

－

－

－

－

Decrease (increase) in trade receivables(2,222)(2,576)315(5,849)4,219

Decrease (increase) in inventories(12,067)(1,975)(1,475)(2,509)424

Increase (decrease) in trade payables

(115)

386

1,104

3,967

544

Other, net

(65)

613

(341)

21

(1,103)

Subtotal(3,765)

(703)

1,366

2,862

2,294

Interest and dividends received

23

29

21

27

35

Interest paid

(38)

(42)

(50)

(29)

(41)

(1,110)(933)(1,740)(1,405)(1,134)

Net cash provided by (used in) investing activities

125

(430)

(274)

(69)

(171)

Proceeds from withdrawal of time deposits

－

70

－

－

－

Payments into time deposits

－

(200)

－

－

－

Purchase of investment securities

(25)

(19)

(78)

(11)

(114)
118

Income taxes paid
Cash flows from investing activities

0

30

21

119

Proceeds from redemption of investment securities

Proceeds from sale of investment securities

200

0

－

－

－

Purchase of property, plant and equipment

(72)

(157)

(123)

(123)

(87)

Proceeds from sale of property, plant and equipment
Purchase of intangible assets

0

0

1

10

10

(40)

(147)

(42)

(54)

(90)

－
(51)

－
(10)

－
(8)
3,564

Proceeds from cancellation of insurance funds

86

2

Other, net

(22)

(8)

Cash flows from financing activities
Net cash provided by (used in) financing activities

2,871

1,037

(519)

1,165

Net increase (decrease) in short-term borrowings

2,084(1,046)

(388)

200

4,780

Proceeds from long-term borrowings

1,600

1,100

1,750

2,400

2,400

Repayments of long-term borrowings(1,320)

(993)

(925)

(600)

(2,700)

(0)

－

－

(0)

(0)

1,219

879

－

－

－

－
(691)

19

16

14

(907)

(929)

(749)

－
(796)

Proceeds from share issuance to non-controlling shareholders

－

2,009

Repayments to non-controlling shareholders

－
(21)

－
(24)

－
(5)

－
(34)

－
(34)

(37)

(65)

(84)

(2)

(57)

(52)

(23)

304
(1,207)Purchase of treasury shares
Proceeds from issuance of shares resulting from exerciseof share acquisition rights
Proceeds from sale of treasury shares
Dividends paid

Other, net
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents

1,164

968

245

1,960

Cash and cash equivalents at beginning of period

5,375

6,540

7,508

7,753

9,713

Cash and cash equivalents at end of period

6,540

7,508

7,753

9,713

8,506

Copyright(c) HAGIWARA
ELECTRIC
CO., LTD.
RightsReserved.
Copyright(c) HAGIWARA
ELECTRICHOLDINGS
CO.,AllLTD.
All Rights
Reserved.

6

Net Sales Breakdown by Business Segment
and Major Client
Net Sales Breakdown by Business Segment(\ million)

FY3/18

FY3/19FY3/20FY3/21

FY3/22

Net sales

112,249

119,021

128,206

127,830

158,427

Electronic Devices Business

91,971

95,692

103,700

105,905

134,661

Technology Solutions Business

20,27823,32824,50521,92423,766

Segment profit

3,631

4,319

4,173

3,468

4,356

Electronic Devices Business

4,061

2,870

2,674

2,164

2,663

Technology Solutions Business

1,242

1,449

1,498

1,303

1,692

Reconciling items(1,672)

－

－

－

－

Note: The Company changed the calculation method of segment profit in FY3/19.
Along with this, unattributable costs and income related to the Company (the holding company) are allocated to each segment.

Net Sales Breakdown by Major Client(\ million)

FY3/18

FY3/19FY3/20FY3/21

FY3/22

Net sales

112,249

119,021

128,206

127,830

158,427

DENSO CORPORATION

63,38866,95470,42774,42280,073

Toyota Motor Corporation

9,020

9,329

9,703

4,902

3,492

TOKAI RIKA CO., LTD.

4,940

4,502

4,533

4,057

4,383

Others34,89938,23543,54144,44770,479Note: Net sales to overseas subsidiaries of DENSO CORPORATION, etc. are included in "Others."

Copyright(c) HAGIWARA
ELECTRIC
CO., LTD.
RightsReserved.
Copyright(c) HAGIWARA
ELECTRICHOLDINGS
CO.,AllLTD.
All Rights
Reserved.

7

Consolidated Profitability Indicators(% )FY3/18

FY3/19FY3/20FY3/21

FY3/22Gross profit on Net sales

9.7

10.2

9.9

9.3

9.2

Operating profit margin

3.2

3.6

3.3

2.7

2.8

Ordinary profit margin

3.2

3.6

3.2

2.8

2.7

Net profit margin

2.3

2.4

2.1

1.8

1.8

ROA

6.5

7.1

6.2

5.0

5.6

ROE

9.3

9.3

8.4

6.8

8.0

DOE

2.9

3.0

2.9

2.1

2.5

Gross profit on Net sales=Gross profit/Net sales
Operating profit margin＝Operating profit/Net sales
Ordinary profit margin＝Ordinary profit/Net sales
Net profit margin＝Profit attributable to owners of parent/Net sales
ROA=Ordinary profit/Average total assets
ROE=Profit attributable to owners of parent/Average equity
DOE=Total dividend/Average net assets

Ordinary profit margin

Operating profit margin（¥ million）

Operating profit

Operating profit margin（％） （¥ million）

Ordinary profit

Ordinary profit margin

（％）

5,000

5.0

5,000

5.0

4,000

4.0

4,000

4.0

3,000

3.0

3,000

3.0

2,000

2.0

2,000

2.0

1,000

1.0

1,000

1.0

0.0

0

0
FY3/18

FY3/19FY3/20FY3/21

0.0
FY3/18

FY3/22

FY3/19ROA

FY3/20FY3/21

FY3/22

FY3/21

FY3/22

ROE

（％）

（％）

10.0

10.0

8.0

8.0

6.0

6.0

4.0

4.0

2.0

2.0
0.0

0.0
FY3/18

FY3/19FY3/20FY3/21

FY3/22

FY3/18

FY3/19FY3/20

Copyright(c) HAGIWARA
ELECTRIC
CO., LTD.
RightsReserved.
Copyright(c) HAGIWARA
ELECTRICHOLDINGS
CO.,AllLTD.
All Rights
Reserved.

8

Consolidated Profitability/Efficiency Indicators(times)Total assets turnoverFY3/18

FY3/19FY3/20FY3/21

FY3/22

2.0

2.0

2.0

1.8

2.0

Equity turnover

4.1

3.9

4.0

3.8

4.4

Property, plant and equipment turnover

42.6

44.9

47.1

46.3

58.0

Interest coverage ratio

93.2

100.9

83.5

102.4

119.7

FY3/18

FY3/19FY3/20FY3/21

FY3/22

Number of employees at end of period

523

544

585

594

609

Number of temporary employees at end of period

47

51

59

78

85

196,928200,036

199,078

190,224

228,282

Ordinary profit per employee (\ thousand)Net sales per employee (\ thousand)

6,293

7,186

6,357

5,292

6,247

Net profit per employee (\ thousand)

4,458

4,716

4,218

3,445

4,145

Total assets turnover=Net sales/Average total assets
Equity turnover＝Net sales/Average equity
Property, plant and equipment turnover=Net sales/Average property, plant and equipment
Interest coverage ratio=(Operating profit+Interest income+Dividend income)/Interest expenses
Net sales per employee=Net sales/(No. of employees at end of period+No. of temp. employees at end of period)
Ordinary profit per employee=Ordinary profit/(No. of employees at end of period+No. of temp. employees at end of period)
Net profit per employee=Profit attributalde to owners of parent/(No. of employees at end of period+No. of temp. employees at end of period)

Property, plant and equipment turnover

Equity turnover（times）（times）

6.0

80.0

5.0

60.0
4.0
3.0

40.0

2.0

20.0
1.0
0.0

0.0
FY3/18

FY3/19FY3/20FY3/21

FY3/22

FY3/18Interest coverage ratio

FY3/19FY3/20FY3/21

FY3/22

Net sales/Ordinary profit per employee
Net sales per employee (LHS)（times）（¥ thousand）

150.0

250,000

120.0

200,000

8,000

90.0

150,000

6,000

60.0

100,000

4,000

30.0

50,0002,000

Ordinary profit per employee (RHS)（¥ thousand）

10,00000

0.0
FY3/18

FY3/19FY3/20FY3/21

FY3/22

FY3/18

FY3/19FY3/20FY3/21

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FY3/229

Consolidated Efficiency/Stability Indicators(%)

FY3/18

FY3/19FY3/20FY3/21

FY3/22Equity ratio

50.1

49.7

48.4

47.7

45.2

Interest-bearing debt ratio

19.8

16.6

16.0

17.6

21.1

Acid-test ratio

158.0

167.0

153.0

160.4

121.6

Current ratio

215.4

229.9

229.3

217.9

210.0

Non-current ratio

16.7

16.4

16.1

16.0

15.4

Non-current assets to Non-current liability ratio

14.6

14.4

13.7

13.9

13.1

Equity ratio=Equity/Total assets
Interest-bearing debt ratio＝Interest-bearing debt/Total assets
Acid-test ratio=Liquid assets/Current liabilities
Current ratio=Current assets/Current liabilities
Non-current ratio=Non-current assets/Equity
Non-current assets to Non-current liability ratio=Non-current assets/(Equity+Non-current liabilities)

Interest-bearing debt ratio

Equity ratio
（％）

（％）

80.0

25.0
20.0

60.0

15.0
40.0

10.0
20.0

5.0
0.0

0.0
FY3/18

FY3/19FY3/20FY3/21

FY3/18

FY3/22Current ratio

FY3/19FY3/20FY3/21

FY3/22

Non-current ratio

（％）

（％）

300.0

40.0

30.0
200.0

20.0
100.0

10.0

0.0

0.0
FY3/18

FY3/19FY3/20FY3/21

FY3/22

FY3/18

FY3/19FY3/20FY3/21

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FY3/2210

Stock Information
Per Share Indicators(\)

FY3/18

FY3/19FY3/20FY3/21

FY3/22

Share price at end of period

3,225

3,080

2,197

2,629

2,020

Closing stock price range for the last 12 months

2,092-3,990

2,589-3,405

1,934-3,135

1,860-2,830

1,903-2,686

Earnings per share (EPS)

310.45319.72307.45261.82325.07Book-value per share (BPS)

3,393.75

3,557.48

3,737.88

3,951.86

4,208.13

Dividend per share (DPS)

95.00

105.00105.0080.00

100.00FY3/18

FY3/19FY3/20FY3/21

FY3/22

792

927

927

707

885

Other Indicators(\ million)

Total amount of dividends
Dividend payout ratio

(%)

30.6

32.8

34.2

30.6

30.8

Price earnings ratio (PER)(times)

10.39

9.63

7.15

10.04

6.21

Price book-value ratio (PBR)(times)

0.95

0.87

0.59

0.67

0.48

Term-average number of shares outstanding (thousand shares)

8,184

8,777

8,834

8,841

8,848

Number of shareholders

2,864

2,753

3,143

2,862

3,078

(persons)

Note: The Company issued the share acquisition rights during the second half of FY3/18.
Dividend payout ratio=DPS/EPSPBR=Share price at end of period/BPS

PER=Share price at end of period/EPS

Total amount of dividends/Dividend payout ratio

Dividend per share（¥）（¥ million）

120.001,000

100.0080.00

Total amount of dividends
Dividend payout ratio

（％）

50.0

800

40.0

600

30.0

400

20.0

200

10.0

60.00
40.00
20.00

0

0.00
FY3/18

FY3/19FY3/20FY3/21

0.0
FY3/18

FY3/22

FY3/19PER

FY3/20FY3/21

FY3/22

FY3/21

FY3/22

PBR（times）（times）

12.00

1.20

10.00

1.00

8.00

0.80

6.00

0.60

4.00

0.40

2.00

0.20
0.00

0.00
FY3/18

FY3/19FY3/20FY3/21

FY3/22

FY3/18

FY3/19FY3/20

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11

Stock Information
Status of Major Shareholders
as of March 31, 2022

Top 10 Shareholders

Number of shares

Shareholding ratio (%)

The Master Trust Bank of Japan, Ltd.(trust account)955,400

10.79

Custody Bank of Japan, Ltd. (trust account)571,500

6.46

STANY Co., Ltd.

495,250

5.60

BBH FOR FIDELITY PURITAN TR: FIDELITY SR INTRINSIC OPPORTUNITIES FUND

350,000

3.95

Tomoaki Hagiwara

338,746

3.83

MUFG Bank, Ltd.

232,500

2.63

Nagoya Small and Medium Business Investment & Consultation Co., Ltd.

230,000

2.60

HAGIWARA FOUNDATION OF JAPAN

230,000

2.60

Employees' Stockholding

194,288

2.20

Sumitomo Mitsui Trust Bank, Limited

178,000

2.01

Note: Shareholding ratio is calculated excluding treasury shares (167,113 shares).

Breakdown of Type of Shareholders
Individuals and others
Other Japanese companies
Financial instruments business operators

Foreign institutions and others
Financial institutions
Treasury shares

13.71%
FY3/2239.68%

14.10%

39.59%

1.85%

3,000

1.17%
14.78%

42.32%

4,000

27.89%

30.08%

11.26%
FY3/20

Number of shareholders

2.77%

12.45%
FY3/21(Persons)

1.93%

1,000

0.91%
12.21%

31.29%

60.00%

80.00%

2,000

2.01%
0

0.00%

20.00%

40.00%

100.00%FY3/18 FY3/19 FY3/20 FY3/21 FY3/22

Share Price and Trading Volume
(¥)

4,000

3,000

2,000

Share price (Month-end)
1,000

0
1,500
Monthly trading volume (thousand shares)

1,000
500
0
3/20183/20193/20203/2021

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3/202212

Corporate Vision
A solution design company
that is creating the future through advanced electronics
We aim to be a corporate group that contributes to a sustainable society by designing new value forthe future of our mobility society and manufacturing through digital transformation.
The foundation of our corporate activities is to prioritize ourcustomers' perspective. We not only meet our customers’ needs,
but we exceed their expectations by using our knowledge as a
trading company to make proposals and leverage our proventechnologies to deliver the best solution.
The Hagiwara Electric Group works as one to fulfill its role andElectronic Devices
Business

Supporting a More Prosperous LifestyleThrough Advanced Technology

mission as a technology-related trading company. We contribute to
the achievement of a prosperous society by creating technologicalbases to support our electronic devices business, technology
solutions business, and overseas business expansion, throughwhich we create solutions that add new value and create greater
opportunities for success in all fields.

Technology
Solutions BusinessSupporting the DigitalSociety of the Future

We evolve together with our customers through advanced
electronics technology and logistics services

Toward a digital society transformed by data and technology:
expanding the possibilities of the future through digital transformation

The digital revolution has finally begun to change the nature of theautomobile. We help to solve our customers’ problems by providing
new services based on our many years of experience in theautomotive industry.

We provide solutions for achieving a connected society by integrating
and developing the measurement and digitalization technologies that
we have cultivated in the manufacturing field, and for achieving thedigital transformations that will lead to the digital society of the future.

Overseas Business
Expansion

Supporting Your Global
Expansion

Technological
Base

Supporting Hagiwara
Electric Technologies

Delivering value globally ~Contributing to our customers’
overseas expansion and the development of local businesses~

Creating new value in society with the power of technology

The Hagiwara Electric Group supports the globalization of
manufacturing by actively promoting overseas expansion. We
currently have a worldwide network originating in Japan and covering
North America, Asia and Europe. By utilizing the group know-how
and resources of our local bases, we are able to provide the samelevel of support for customers engaged in overseas manufacturing
operations as for customers operating in Japan.

From development of original component technologies to applied
technology and cutting-edge technology, we actively pursue newpotential and functional diversity in addition to seeking newtechnologies. We create new value in society by being responsive tothe expanding markets of many different industries, while at the sametime, using our strengths to support the business of Hagiwara ElectricGroup.

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13

Our BusinessElectronic Devices BusinessWe evolve together with our customers
through advanced electronics technology and logistics services
The digital revolution has finally begun to change the nature of the automobile.
We help to solve our customers’ problems by providing new services
based on our many years of experience in the automotive industry.
Business Domains
Contributing to the automotive society of tomorrow,transitioning beyond conventional concepts, by providing the cutting edge solutions
Supporting the Latest Innovations
Internal vehicle devices
The safety and comfort of one’s car is paramount to a relaxed and enjoyable driving experience.
We handle a diverse selection of electronic devices that support these developments.
What’s more, our team is equipped to provide a personalized experience with advanced device
solutions. Our specialists are experienced in developing new cutting edge products that are
customized and tailored to suit your company’s needs.
Embedded software development
With the increasing usage of electronics in vehicles, the demand for microcontrollers has
increased.
To meet this ever increasing demand, we are developing improved software to advance thequality and performance of automotive microcontrollers.
Supporting the Evolution of Industry
Devices for industry and social infrastructure
As automation and motorization expand, so too does the technology used in our daily lives. The
electronic devices we supply support these developments and allow us to respond quickly to
our customers’ needs in a variety of fields even as the global demand outgrows production.

Features of Electronic Devices Business1. The Hagiwara of Cars

3. The Hagiwara of Technological Strengths

A wealth of achievements in the automotive industry especiallyin the Chubu region

Our efforts in the field of hardware development and EMS/ODM

The Hagiwara Electric Group is based in Nagoya, where the world’s
top automobile and auto parts manufacturers are located. When the
Hagiwara Electric Group was founded, we put down roots in the
Chubu region, where we have been able to create and foster close
relationships with our customers. These relationships have beencultivated over many years and at their cores are built on trust. This
has allowed us to gather the latest knowledge about industry trends
as well as accumulate the latest and most advanced technology
available with which the cars of the future will be fashioned.

In recent years, semiconductors such as LSIs with integratedfunctionality have become mainstream. The Hagiwara Electric Grouputilizes its technological strengths to support the functional
development of semiconductors as well as the incorporation of “plusalpha” functions into general purpose products. Due to ouradvancements in software creation and design, we are able toprovide electronics manufacturing services (EMS) and original design
manufacturing (ODM).

2. The Hagiwara of Solutions

4. The Hagiwara That Is Everywhere in Society

Established partnerships with global leaders and drivers ofgrowthA presence in multiple fields including industry, robots, housing
equipment, and nursing care

The partnerships we promote are those that will benefit ourcustomers and provide us the tools to resolve any issues they mightface. With a focus on long-established global brands, we are always
in pursuit of manufacturers who will be the leaders of the next
generation. This commitment to coordinating and selecting only thebest assists us in providing our customers with most innovative
solutions available.

Device solutions from the Hagiwara Electric Group are utilized infactories to accelerate factory automation (FA). Additionally, oursolutions are used in both the housing equipment field and thenursing care field. Our cutting-edge inventory of electronic
components and ability to propose solutions support automation andmotorization, bringing more convenience to our lives.

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14

Our BusinessTechnology Solutions BusinessToward a digital society transformed by data and technology:
expanding the possibilities of the future through digital transformation
We provide solutions for achieving a connected society
by integrating and developing the measurement and digitalization technologies
that we have cultivated in the manufacturing field,
and for achieving the digital transformations that will lead to the digital society of the future.
Solutions for Every Area
IT Solutions

Business
Domains

Product Solutions

Measurement and FA Solutions

DX

Embedded Platforms

Measurement Solutions

・Factories

Security

Embedded Devices

FA Solutions

・SocialData Centers

Original Products

・IT Infrastructure

Cloud・Medicine and
Healthcare

IT Platforms
Original Packages

Features of Technology Solutions Business1. Trading Company with Manufacturing Functions

3. Looking Ahead and Being a Pioneer

Partnerships with a variety of manufacturers and our own
manufacturing function

Using our technological strengths stay new and on trend

In addition to the major manufacturers we have been working with formany years, we also actively collaborate with leading manufacturers
across the globe. We assist our customers in finding state-of-the-art
technologies and products that suit them. We also have amanufacturing arm where we develop and manufacture our own
original products. We resolve the issues faced by our customers
through our commitment to quality and meticulous support.

From selling computers and servers to building networks and IT
platforms, we have always used state-of-the-art and trending
technologies such as measurement solutions that support modelbased development. We will continue to use our proven, extensive
technological resources to seek new technologies that will form thefoundation of the next generation.

2. Achievements in Industry

4. Promoting Digital Transformation and Creating New Value

A wealth of achievements at auto factories and other production
sites especially in the Chubu region

Delivering new value in the data-driven digital integration andfactory integration services market

The Chubu region is where many world-class automobile
manufacturers and automobile parts manufacturers have theirproduction bases. The region is also playing host to an increasing
number of companies engaged in manufacturing equipment for
production facilities such as machine tools. Headquartered in Nagoya—the heart of the Chubu—the Hagiwara Electric Group has a proventrack record in production site-related business. We are also
leveraging these achievements to develop a wide range of solutions
in various other fields such as IT and security.

We are able to utilize our experience in IT, embedded devices,
measurement, and other aspects of factory automation (FA) in orderto import data from various machines and objects. We create newvalue by processing the data we collect into meaningful informationand promoting digital transformation.

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15

Our Business
Overseas Business Expansion

Delivering value globally ~Contributing to our customers’ overseas
expansion and the development of local businesses~
The Hagiwara Electric Group supports the globalization of manufacturing by actively promoting overseas expansion.
We currently have a worldwide network originating in Japan and covering North America, Asia and Europe.
By utilizing the group know-how and resources of our local bases, we are able to provide the same level of support
for customers engaged in overseas manufacturing operations as for customers operating in Japan.
Our goal is to strengthen the development support system of local subsidiaries by implementing measures such as
stationing engineers at each location.
This allows us to contribute to the creation and expansion of global markets with our customers while at the sametime developing new products and new businesses.

Approach to Overseas Business■Meeting the global needs of Japanese companies■Proposing Solutions That Correspond with Local Needs■Expanding Our Overseas Network■Business localization■Enhancing development and design■Creating new markets

Technological BaseCreating new value in society with the power of technology
From development of original component technologies to applied technology and cutting-edge technology,
we actively pursue new potential and functional diversity in addition to seeking new technologies.
We create new value in society by being responsive to the expanding markets of many different industries,
while at the same time, using our strengths to support the business of Hagiwara Electric Group.

Hagiwara Electric's Strengths
The Hagiwara Electric Group's strength lies in the ability to use our technological advantages toprovide solutions for issues and challenges faced by our customers. Our technologies are largely
divided into support technology and development technology, and at the heart of both of these is
our component technology and experience. Electronic products are becoming increasingly
sophisticated and complex. What is needed now is not only product lineup, but also the ability tosupport all the technical aspects of a customer's project by utilizing expertise in each field of thecustomer's business. Utilizing our proven track record and the experience we have accrued, we
serve the role of a bridge between suppliers and customers. Our competencies translate into an
ability to support our customers' product development and to help their business succeed. At theheart of our ability to provide solutions is the technological strength of the Hagiwara ElectricGroup and we will further enhance it as a horizontally interconnected foundation that supports
the entire Group.

Our Technologies
Examples of Support Technologies
Support for Component Selection■Introduction of new products frommanufacturing partners■Provision of the latest product informationand technical trends■Assistance in new product evaluation andcomparative evaluation of parts

Development Support for
Customers■Support for advance development of embedded
systems■Support for development of embedded softwareand hardware mass production■Support for constructing IT and other systems(system integrator)■Introduction of partner companies that canperform development and evaluation

Examples of Development Technologies
Contracted Development ofEmbedded Systems■Embedded software development andevaluation■Development of embedded system hardware■Circuit design and evaluation of system
LSIs and ICs

Contracted Development
Related to IT Solutions■IoT-related system development■System development for production
management systems, etc.
■Construction of various FA and measurement
systems

Support for Failure Analysis■Cooperation in failure classification, reproduction
testing and analysis■Follow up on failure analysis in collaboration with
manufacturing partners

Establishment of Evaluation
Environments and Contracted
Development of Component
Technologies for Automated Driving
and Other Systems■Acquisition of car driving video and data tagging■Image processing that can be applied to electronic
mirrors and peripheral monitoring■Implementation of new algorithms in embedded systems

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Corporate Profile(Operating companies in Japan)
HAGIWARA ELECTRONICS CO., LTD.
Name of Company
Location
Representative

HAGIWARA ELECTRONICS CO., LTD.
Takaoka Park Building, 2-2-1 Higashi Sakura,
Higashi-ku, Nagoya-shi, Aichi
Takeshi Soejima, President and Representative Director

EstablishedMay 1, 2017 (Business operation commenced on April 1, 2018)

Share Capital

1,310 million yen

Major Business

Sale of integrated circuits, semiconductors and electron devices

HAGIWARA TECHNO SOLUTIONS CO., LTD.
Name of Company
Location
Representative

HAGIWARA TECHNO SOLUTIONS CO., LTD.
Takaoka KANAME Building, 2-28-23 Izumi,
Higashi-ku, Nagoya-shi, Aichi
Chihiro Kashima, President and Representative Director

EstablishedMay 1, 2017 (Business operation commenced on April 1, 2018)

Share Capital

310 million yen

Major Business

Sale of electronic equipment and manufactureand sale of FA equipment

HAGIWARA HOKUTO TECHNO CO., LTD.
Name of Company

HAGIWARA HOKUTO TECHNO CO., LTD.

Location

Takaoka Park Building, 2-2-1 Higashi Sakura,
Higashi-ku, Nagoya-shi, Aichi

Representative

Atsunori Shigenobu, President and Representative Director

Established

April 2, 2018

Share Capital

45 million yen

Equity ownership
ratio

HAGIWARA ELECTRONICS CO., LTD.: 66.56%
Hokuto System Co., Ltd.: 33.44%

Major Business

Consignment and services related toin-vehicle software verification and development

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Contact
HAGIWARA ELECTRIC HOLDINGS CO., LTD.
Corporate Communication Office
Phone: +81-52-931-3553
FAX: +81-52-935-7610
E-mail: ir@hagiwara.co.jp
https://www.hagiwara.co.jp/english/