Summary of Consolidated Financial Results
For The Third Quarter Ended December 31 , 2023
[Japanese GAAP]
February 2, 2024
Company name:
Stock exchange listing:
URL:
Representative:
Contact:
TEL:

TOKYO ELECTRON DEVICE LIMITEDTokyo Stock Exchange Prime Market (Code 2760)
https://www.teldevice.co.jp/eng/
Atsushi Tokushige, President & Representative Director
Hiroki Tanaka, Director, Financial Department+81-45-443-4000(Amounts are rounded down to the nearest million yen.)
1. Consolidated Financial Highlights for the Third Quarter Ended December 31, 2023 (April 1, 2023 to
December 31, 2023)(1) Consolidated Operating Results (cumulative)(% indicates changes from the same period of previous fiscal year.)
Net income
Net sales
Operating income
Ordinary income
attributable toowners of parent
Millions of yen

The Third Quarter
ended December 31, 2023
The Third Quarter
ended December 31, 2022
(Note) Comprehensive income:% Millions of yen% Millions of yen% Millions of yen

179,748

2.2

10,860

4.3

9,717

14.4

7,070

19.8

175,89637.5

10,409

119.9

8,493

99.4

5,901

51.5

The Third Quarter ended December 31, 2023
The Third Quarter ended December 31, 2022

Basic net income
per share

Diluted net income
per share

Yen

Yen

8,007 million yen [21.3%]
6,602 million yen [47.1%]

The Third Quarter
236.25–
ended December 31, 2023
The Third Quarter
198.36–
ended December 31, 2022
(Note) The Company conducted a share split at a ratio of three shares for every one share of the Company’scommon stock as of October 1, 2023. Basic net income per share is calculated based on the assumptionthat the share split was conducted at the beginning of the previous fiscal year.
(2) Consolidated Financial Position
Total assets
As of December 31, 2023
As of March 31, 2023
(Reference) Equity:%

Net assets

Equity ratio

Millions of yen

Millions of yen%

155,739
143,452

42,95438,99726.9
26.4

As of December 31, 2023

41,826 million yen

As of March 31, 2023

37,848 million yen

2. Dividends
End of 1Q

End of 2Q

Yen

Annual dividends per share
End of 3Q
Year-end

Yen

Yen

AnnualYen

Yen

Fiscal year ended–
145.00–210.00355.00March 31, 2023
Fiscal year ending–
183.00–March 31, 2024
Fiscal year ending
March 31, 2024
70.00–
(Forecast)(Note) Revision of dividends forecast: None
(Note) The Company conducted a share split at a ratio of three shares for every one share of the Company’scommon stock as of October 1, 2023. The year-end dividend per share for the fiscal year ending March 31,
2024 (forecast) is based on the number of shares after the share split, and the annual dividend is stated as“―”. If the share split is not taken into consideration, the year-end dividend per share for the fiscal year
ending March 31, 2024 (forecast) would be 210 yen, and the annual dividend would be 393 yen.
3. Consolidated Financial Forecasts for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31,
2024)(% indicates changes from the same period of previous fiscal year.)
Net income
Basic net income
Net sales
Ordinary income
attributable to owners
per shareof parent
Millions of yen%

Millions of yen%

Millions of yen%

Yen

Fiscal year ending
250,000
4.0
13,500
8.2
9,770
11.3
326.12
March 31, 2024
(Note) Revision of financial forecasts: None
(Note) The Company conducted a share split at a ratio of three shares for every one share of the Company’scommon stock as of October 1, 2023. Basic net income per share for fiscal year ending March 31, 2024
(forecast) is taking into consideration the impact of the share split. Not taking into consideration the share
split, net income per share for fiscal year ending March 31, 2024 (forecast) would be 978.36 yen.
*Notes(1) Changes of significant subsidiaries during the period : None
(2) Changes in accounting policies, accounting estimates, and restatements
1) Changes due to revision of accounting standards: None2) Changes in accounting standards other than 1): None3) Changes in accounting estimates: None4) Restatements: None(3) Number of shares outstanding (common stock)1) Number of shares outstanding at the end of the period (including treasury shares):December 31, 2023
31,336,500 shares
March 31, 2023
31,336,500 shares
2) Number of treasury shares at the end of the period:
December 31, 2023
1,354,380 shares
March 31, 2023
1,490,898 shares

3) Average number of shares outstanding during the period:
The Third Quarter ended December 31,
29,929,749 shares
2023
The Third Quarter ended December 31,
29,752,707 shares
2022(Note) The Company has adopted the Directors’ Compensation BIP (Board Incentive Plan) Trust and the ESOP
(Employee Stock Ownership Plan) Trust, and the “Trust-Type Employee Shareholding Incentive Plan (EShip)”, and has included the number of the Company’s shares held by both Trusts accordingly in thenumber of treasury shares.
(Note) The Company conducted a share split at a ratio of three shares for every one share of the Company’scommon stock as of October 1, 2023. Number of shares outstanding at the end of the period, number oftreasury shares at the end of the period, and the average number of shares outstanding during the period are
calculated based on the assumption that the stock split was conducted at the beginning of the previous
fiscal year.
*This quarterly financial report is outside the scope of an audit procedure by the Certified Public Accountant or the
Audit firm.
*Explanation of the appropriate use of finance forecasts and other special notes
The financial forecasts and other estimates herein are based on currently available information and certain
assumptions deemed reasonable at time of report issuance. The Company does not guarantee the achievement ofthese forecasts. Actual operating results may differ significantly from these forecasts due to various factors.

Consolidated Financial Statements and Segment Information(1) Consolidated Balance Sheets(Millions of yen)
FY 2023(As of Mar. 31, 2023)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims operating
Merchandise and finished goods
Raw materials
Prepaid expenses
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

FY 2024(As of Dec. 31, 2023)

6,538

10,35457,73750,356

4,801

4,955

40,402
2,680
17,3324,821(4)52,391
3,501
17,151
5,859(74)

134,309

144,496

3,481
226

3,286
2,112

352
5,126
(43)

385
5,774
(314)

5,435

5,844

9,143

11,243

143,452

155,739

(Millions of yen)
FY 2023(As of Mar. 31, 2023)
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Commercial papers
Current portion of long-term borrowings
Advances received
Provision for bonuses
Other

FY 2024(As of Dec. 31, 2023)

20,21420,9493
21,082
2,706
5,638

18,036
26,2425,000
6,300
24,022
1,168
4,213

Total current liabilities

70,59584,983

Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other

24,7007,626
1,533

18,4007,384
2,017

33,85927,801

Total liabilities

Total non-current liabilities

104,455

112,785

Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares

2,495
5,652
30,482(1,813)

2,495
5,684
33,448(1,695)36,81639,932

82

142

(136)
973
111

261
1,393
96

1,031

1,893

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests

1,148

1,128

Total net assets

38,99742,954143,452

155,739

Total liabilities and net assets

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income

Net sales
Cost of sales

FY 2023(from Apr. 1, 2022
to Dec. 31, 2022)
175,896
151,116(Millions of yen)
FY 2024(from Apr. 1, 2023
to Dec. 31, 2023)
179,748
152,736

Gross profit

24,78027,011

5,366
976
485

5,604
1,130
534

139

205

(3)
7,407

342
8,333

14,371

16,151

10,40910,860

97

135

97

91
123

195

350

1,928
182

1,262
230

Selling, general and administrative expenses
Salaries and allowances
Provision for bonuses
Retirement benefit expenses
Provision for share based compensation expenses for
employees
Provision of allowance for doubtful accounts
Other
Total selling, general and administrative expenses
Operating income
Non-operating income
Share of profit of entities accounted for using equity
methodCompensation for damage income
Other
Total non-operating income
Non-operating expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets
Loss on change in equity
Total extraordinary losses

2,110

1,493

8,493

9,717

-

4

-

4

2
-

0
1
32

2

34

Net income before income taxes

8,491

9,687

Income taxes

2,516

2,541

Net income

5,974

7,145

Net income attributable to non-controlling interests
Net income attributable to owners of parent

72

74

5,901

7,070

Consolidated Statements of Comprehensive Income

Net income
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, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income

5,974(Millions of yen)
FY 2024(from Apr. 1, 2023
to Dec. 31, 2023)
7,145

19
237
373
(34)

60
397
384
(15)

33

35

628

861

Comprehensive income

6,602

8,007

Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

6,530

7,932

72

74

FY 2023(from Apr. 1, 2022
to Dec. 31, 2022)

(3) Consolidated Statements of Cash Flow
(Millions of yen)
FY 2024(from Apr. 1, 2023
to Dec. 31, 2023)

FY 2023(from Apr. 1, 2022
to Dec. 31, 2022)
Cash flows from operating activities
Net income before income taxes
Depreciation and amortization
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for share-based
compensation expenses for employees
Increase (decrease) in provision for share-based
compensation expenses for directors
Interest expenses
Foreign exchange losses (gains)
Compensation income for damage
Decrease (increase) in notes and accounts receivabletrade and contract assets
Decrease (increase) in inventories
Increase (decrease) in trade payables

8,491
423
(3)
(754)
(477)

9,687
505
341
(1,544)
(259)

147

215

137

157

105
(1,522)
-

177
(367)
(91)

(14,164)

7,772(15,740)
1,566(12,598)(2,245)

304
4,302

263
2,293

Increase (decrease) in accounts payable - other
Increase (decrease) in advances received
Decrease (increase) in consumption taxes refund
receivable
Decrease (increase) in accounts receivable - other
Decrease (increase) in prepaid expenses
Decrease (increase) in advance payments to suppliers
Other, net

(736)

(2)

162
(3,929)
109
(311)

(112)
181
129
(464)

Subtotal(21,890)4,039Interest and dividends received
Interest paid
Compensation income for damage received
Income taxes paid

89
(102)
(3,069)

248
(179)
91
(4,456)

Net cash provided by (used in) operating activities(24,973)

(257)

13
(138)
(34)
-

(10)
(181)
(454)
(143)

Proceeds from sale of investment securities
Payments of leasehold and guarantee deposits
Proceeds from cancellation of insurance funds
Payments for acquisition of businesses
Other, net

47
14

4
(438)
(1,200)2

Net cash provided by (used in) investing activities(97)(2,422)

Cash flows from investing activities
Net decrease (increase) in time deposits
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities

(Millions of yen)
FY 2024(from Apr. 1, 2023
to Dec. 31, 2023)

FY 2023(from Apr. 1, 2022
to Dec. 31, 2022)
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Net increase (decrease) in commercial papers
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
Purchase of treasury shares
Proceeds from disposal of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Repayments of lease liabilities

17,66015,000(4,074)

5,095
5,000
(3)

-

(27)

(0)
209
(2,428)
(17)
(48)

(0)
336
(3,916)(35)(57)

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents

26,299

6,390

48

93

1,277

3,805

Cash and cash equivalents at beginning of period

5,028

6,442

Cash and cash equivalents at end of period

6,306

10,248

(4) Segment Information
I. For the Period ended December 31, 2022 (From Apr. 1, 2022 to Dec. 31, 2022)
1. Information on the amount of net sales and income (loss) by segments, and breakdown of revenue(Millions of yen)Segments
Computer
Networks
Business

Electronic
Components
Business
Net sales:
Semiconductor &Boards Products,
etc.
Storage & Network
Products, etc.
Maintenance &Monitoring
Services
Revenue fromcontracts withcustomers
Outside customers
Inter-segment
Total

Consolidated
Adjustments statements of income(Note)

Total

156,034–

156,034–

156,034–

12,232

12,232–

12,232

–

7,629

7,629

–

7,629

156,034

19,862

175,896–

175,896

156,034

19,862

175,896–

175,896

2

–

2

(2)

–

156,036

19,862

175,899(2)

175,896

Segment income
7,458
1,035
8,493
–
8,493
(Note) Total amount of segment income coincides with the ordinary income in the consolidated statements of income.
II. For the Period ended December 31, 2023 (From Apr. 1, 2023 to Dec. 31, 2023)
1. Information on the amount of net sales and income (loss) by segments, and breakdown of revenue(Millions of yen)Segments
Computer
Networks
Business

Electronic
Components
Business
Net sales:
Semiconductor &Boards Products,
etc.
Storage & Network
Products, etc.
Maintenance &Monitoring
Services
Revenue fromcontracts withcustomers
Outside customers
Inter-segment
Total

Total

Adjustments

Consolidated
statements of income(Note)

158,807–

158,807–

158,807–

11,995

11,995–

11,995

–

8,945

8,945

–

8,945

158,807

20,940179,748–

179,748

158,807

20,940179,748–

179,748

–

–

–

–

–

158,807

20,940179,748–

179,748

Segment income
7,741
1,976
9,717
–
9,717
(Note) Total amount of segment income coincides with the ordinary income in the consolidated statements of income.