Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Year Ended March 31, 2024
(Based on Japanese GAAP)May 14, 2024
Company name:
PUNCH INDUSTRY CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

6165
URL https://www.punch.co.jp/ir/
Chief Executive Officer
Tetsuji Morikubo

Inquiries:
Chief Financial Officer
Scheduled date of ordinary general meeting of shareholders:

Takao Murata
June 25, 2024

Scheduled date to file Securities Report:
Scheduled date to commence dividend payments:

June 26, 2024
June 26, 2024

Preparation of supplementary material on financial results:
Holding of financial results meeting:

Yes
Yes

TEL

03-5753-3130(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating results
Percentages indicate year-on-year changes
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Year ended March 31, 2024
38,344(10.4)
1,240(49.1)
1,421 (40.6)(577)–
Year ended March 31, 2023
42,7998.7
2,436(19.9)
2,394 (20.4)
1,390(31.9)
Note: Comprehensive income

Year ended March 31, 2024:¥248 million

Year ended March 31, 2023:¥2,137 million [(45.0%)]

Earnings per share

Note:

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassetssales
parent/equity
Yen
%
%
%
–
(3.1)
4.7
3.2
60.15
7.9
8.1
5.7

Diluted earnings per
share

Yen
(23.61)
60.58

Year ended March 31, 2024
Year ended March 31, 2023[(88.4%)]

Share of profit (loss) of entities accounted for using equity method

Year ended March 31, 2024:
Year ended March 31, 2023:¥– million¥– million

Note: Diluted earnings per share for the fiscal year ended March 31, 2024 is not shown because loss per share was recorded, although there arepotential shares.
(2) Consolidated financial position
Total assets
Millions of yen
29,64930,455

As of March 31, 2024
As of March 31, 2023
Note: Equity

As of March 31, 2024:
As of March 31, 2023:

Net assets
Millions of yen
18,75019,052Equity ratio

Net assets per share
%
63.1
62.4

Yen
764.81778.02¥18,711 million¥19,007 million(3) Consolidated cash flows

Year ended March 31, 2024
Year ended March 31, 2023

Cash flows fromoperating activities
Millions of yen
1,276
2,560

Cash flows frominvesting activities
Millions of yen(680)(1,546)

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen
(2)
6,003
(756)
5,212

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2023
Year ended March 31, 2024
Year ending March 31, 2025
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

–
–

6.50
10.00

–
–

13.00
9.40

19.50
19.40

465
474

32.2
–

2.6
2.5

–

9.80

–

9.81

19.61

40.0

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Percentages indicate year-on-year changes
Profit attributable to
Net sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Six months ending
18,800
(1.7)
700
34.1
680 (15.9)
250
–
10.22
September 30, 2024
Full year
38,500
0.4
2,150
73.3
2,100
47.7
1,200
–
49.05
4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2024
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2024

24,622,400 shares As of March 31, 2023

24,622,400 shares

Number of treasury shares at the end of the period
As of March 31, 2024

157,072 shares As of March 31, 2023

191,339 shares

24,452,413 shares Year ended March 31, 2023

22,947,817 shares

Average number of shares during the period
Year ended March 31, 2024

(Reference) Overview of non-consolidated financial results
Non-consolidated financial results for the year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Non-consolidated operating results
Percentages indicate year-on-year changes
Net sales
Operating profit
Ordinary profit
ProfitYear ended March 31, 2024
Year ended March 31, 2023

Million yen
13,157
14,777%(11.0)(2.1)

Earnings per share

Million yen
0
(55)

–
–

Million yen
1,033
1,883

%
(45.1)(28.1)

Million yen
(340)
1,439

%

–
(35.4)

Diluted earnings per share

Yen(13.94)62.74

Year ended March 31, 2024
Year ended March 31, 2023

%

Yen
–
62.29

Note: Diluted earnings per share for the fiscal year ended March 31, 2024 is not shown because loss per share was recorded, although there arepotential shares.
(2) Non-consolidated financial position
Total assets
Million yen
14,195
14,902As of March 31, 2024
As of March 31, 2023
Reference: Equity

As of March 31, 2024:
As of March 31, 2023:¥7,002 million¥7,887 million

Net assets

Equity ratio

Net assets per share

Million yen
7,016

%

49.3

7,908

52.9

Yen
286.20322.84

* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Appropriate use of financial forecasts; other special items(Caution concerning forward-looking statements)
Forward-looking statements provided in this document, including financial forecasts, are based on the information currently available to theCompany and certain assumptions considered reasonable. Such statements are included without any guarantee as to their future achievement.
Actual results, etc. may differ materially from the forecasts depending on various factors. For the related matters concerning the financial
forecasts, please refer to “1. Overview of Operating Results, Etc., (4) Future prospects” on page 3 of the attached material.
(The Financial Results Briefing)
The Company has scheduled an online briefing for institutional investors and analysts on Tuesday, May 21, 2024.

Attached Materials Index
1.

Overview of Operating Results, Etc. ..................................................................................................................................2(1)
Overview of operating results for the period ..............................................................................................................2(2)
Overview of financial position for the period .............................................................................................................2(3)
Overview of cash flows for the period ........................................................................................................................3(4)
Future prospects ..........................................................................................................................................................3
2. Basic Policy Regarding Selection of Accounting Standards...............................................................................................3
3. Consolidated Financial Statements and Significant Notes Thereto ....................................................................................4(1)
Consolidated balance sheets .......................................................................................................................................4(2)
Consolidated statements of income and consolidated statements of comprehensive income .....................................6
Consolidated statements of income.............................................................................................................................6
Consolidated statements of comprehensive income ...................................................................................................7(3)
Consolidated statements of changes in equity ............................................................................................................8(4)
Consolidated statements of cash flows .....................................................................................................................10(5)
Notes on consolidated financial statements ..............................................................................................................12
Notes related to the going concern assumption.........................................................................................................12
Segment information, etc. .........................................................................................................................................12
Per share information ................................................................................................................................................14
Significant events after the reporting period .............................................................................................................14
4. Non-consolidated Financial Statements and Significant Notes Thereto ...........................................................................15(1)
Non-consolidated balance sheets ..............................................................................................................................15(2)
Non-consolidated statements of income ...................................................................................................................17(3)
Non-consolidated statements of changes in equity ...................................................................................................18

1

1. Overview of Operating Results, Etc.
(1) Overview of operating results for the period
During the fiscal year under review, the global economy still remained unpredictable due to soaring global resourceand energy costs, sharp exchange rate fluctuations, and rising prices, despite economic activities normalizing due to
COVID-19 subsiding. The outlook for the manufacturing sector remained uncertain, as the tight supply situation forelectronic devices and semiconductors has peaked with demand entering an adjustment phase, while prices of raw
materials and resources significantly surging.
In this environment, the Group has been working on its mid-term business plan “Value Creation 2024 (VC2024)”
formulated in April 2022, and has achieved certain results, including acquisition of ASCE CO., LTD. (“ASCE”),
which is engaged in FA equipment design and manufacturing, making it a subsidiary, and review of basic capitalmanagement policy and shareholder return policy.
However, the Company announced a new two-year mid-term business plan “VC2024 Revival” in July 2023 in orderto recover from the significant delay in “VC2024” amid the increasingly severe business environment due toheightened geopolitical risks, parts shortages, etc., as well as to brush up the plan including new growth strategies.
“VC2024 Revival” aims to achieve sustainable profit growth by specializing in the high-value-added custom-madeproducts business and expanding sales of custom-made products in the FA field. The most important measures are:redevelopment of domestic business; and growth in overseas business. In the domestic business, the Company
implemented management rationalization, including soliciting voluntary retirement and dissolving consolidated
subsidiaries in September 2023, to redevelop the business structure. At the same time, the Company is continuing its
growth strategy in overseas business by establishing new sales offices and sales agents and re-focusing on the Indian
market.
As for operating results, sales in Japan, China, and Southeast Asia fell below those of the previous fiscal year due to a
decline in demand caused by the global inventory adjustment phase and reluctance to buy under inflationary
conditions. In China, in particular, the slow recovery of the automobile industry and the economic slowdown had asignificant impact on the decline in sales. On the other hand, in Europe and the United States, results exceeded thoseof the previous fiscal year due to the acquisition of new customers through participation in trade shows and othermeans. Except for the Company and ASCE, Pintech, India Punch, the fiscal year of Group companies ends inDecember and the results from January to December 2023 are the consolidated financial results for the fiscal year
under review.
Net sales amounted to ¥12,438 million (down 11.8% year on year) for Japan; ¥20,443 million (down 12.8% year onyear) for China; ¥1,901 million (down 3.3% year on year) for Southeast Asia; and ¥3,561 million (up 8.7% year onyear) for Europe and the United States. This brought consolidated net sales to ¥38,344 million (down 10.4% year onyear).
By industry, the results in all industries were lower than those of the previous fiscal year. The results were ¥16,537
million (down 8.5% year on year) for automobile; ¥6,930 million (down 11.9% year on year) for electronic devices &semiconductors; ¥3,647 million (down 15.4% year on year) for consumer electronics & precision equipment; and¥11,229 million (down 10.4% year on year) for other.
As for profits, operating profit was ¥1,240 million (down 49.1% year on year) due to the deterioration of factory
utilization caused by the sales declines in China and Japan, the rise in energy costs, etc.; ordinary profit was ¥1,421
million (down 40.6% year on year) due to the recording of foreign exchange gains, etc.; and loss attributable toowners of parent was ¥577 million (profit attributable to owners of parent of ¥1,390 million in the previous fiscal
year) due to one-time extraordinary losses related to the extra retirement payment and outplacement support cost for
management rationalization implemented in September 2023, etc.
As for capital efficiency, return on invested capital (ROIC) was 3.9% (8.1% in the previous year). Both were below
the target (10% or higher).
(2) Overview of financial position for the period
AssetsTotal assets as of the end of the current fiscal year amounted to ¥29,649 million, a decrease of ¥806 million
compared with the end of the previous fiscal year. This was mainly due to a decrease of inventories and noncurrent assets.
Liabilities
Total liabilities amounted to ¥10,899 million, a decrease of ¥504 million compared with the end of the previous
fiscal year. This was mainly due to a decrease of retirement benefit liability.
Net Assets
Total net assets amounted to ¥18,750 million, a decrease of ¥301 million compared with the end of the previous
2fiscal year. This was mainly due to a decrease of retained earnings as a result of recording loss attributable toowners of parent.
(3) Overview of cash flows for the period
Cash and cash equivalents as of the end of the current fiscal year increased by ¥791 million compared to the end of
the previous fiscal year and amounted to ¥6,003 million.
Cash flows from operating activities
Net cash provided by operating activities for the current fiscal year amounted to ¥1,276 million (compared to¥2,560 million provided for the previous fiscal year).
This was mainly due to loss before income taxes of ¥100 million, impairment losses of ¥393 million anddepreciation of ¥1,166 million, as well as a decrease of retirement benefit liability of ¥317 million.
Cash flows from investing activities
Net cash used in investing activities for the current fiscal year amounted to ¥680 million (compared to ¥1,546
million used for the previous fiscal year).
This was mainly due to purchase of property, plant and equipment of ¥866 million.
Cash flows from financing activities
Net cash used in financing activities for the current fiscal year amounted to ¥2 million (compared to ¥756 million
used for the previous fiscal year.)This was mainly due to net decrease of short-term borrowings of ¥1,302 million, repayments of long-termborrowings of ¥1,312 million, proceeds from long-term borrowings of ¥3,400 million, and dividends paid of ¥562
million.
(4) Future prospects
In the next fiscal year ending March 31, 2025, which is the final year of mid-term business plan “VC2024 Revival,”
the Company aims to achieve sustainable profit growth by focusing on the high-value-added custom-made products
business and expanding sales in the FA field. In the domestic business, the Company will improve operational
efficiency by establishing a customer center as part of its sales system improvement efforts, and will—as part of the
production system improvement efforts—adopt smart devices for its factories and transfer production among Groupfactories including those overseas, while continuing to strengthen R&D. In addition, the Company will work on
further growth strategies for overseas business in China, India, Europe, and the United States.
The Company recognizes that the global economy in FY2024 is likely to experience a prolonged downturn due toheightened geopolitical risks and a sluggish market in China. Furthermore, the business situation will remainchallenging due to soaring energy and raw materials costs worldwide and exchange rate fluctuations.
Based on the above, the prospective consolidated financial performance for the following fiscal year (ending March
31, 2025), the Company forecasts net sales of ¥38,500 million (an increase of 0.4% year on year); operating profit of¥2,150 million (an increase of 73.3% year on year); ordinary profit of ¥2,100 million (an increase of 47.7% year onyear); and profit attributable to owners of parent of ¥1,200 million (loss attributable to owners of parent of ¥577 in theprevious fiscal year).
As for capital efficiency, return on invested capital (ROIC) is projected to be 6.7%.
The foregoing forecast of financial results have been prepared based on information currently obtainable by theCompany as of the publication date of this document, and actual financial performance may differ from the forecast
values due to various factors that arise.
2. Basic Policy Regarding Selection of Accounting Standards
The Group prepares its consolidated financial statements based on Japanese GAAP. The Company is considering thevoluntary adoption of International Financial Reporting Standards (IFRS), but the adoption date is yet to be determined.
The appropriate decision will be made by taking into account the coming state of affairs in Japan and the globe.

33. Consolidated Financial Statements and Significant Notes Thereto(1) Consolidated balance sheets
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
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
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4(Millions of yen)
As of March 31, 2024

5,212
1,745
9,632
2,851
658
1,531
484
(39)
22,077

6,031
1,735
9,233
2,333
642
1,345
614
(33)
21,903

6,157(4,386)
1,771
17,405(13,513)
3,892
2,732
(2,273)
459
829
161
466
(265)
200
7,314

6,113
(4,515)
1,598
16,960(13,091)
3,869
2,819
(2,378)
440
741
42
525
(370)
155
6,848

466
228
695

417
200
618

201
202
(36)
367
8,377
30,455

123
188
(33)
278
7,745
29,649As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of bonds payable
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’’ equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

5(Millions of yen)
As of March 31, 2024

2,667
999
1,300
10
728
396
379
2,698
9,180

2,628
919
–
–
1,351
213
302
2,190
7,605

675
1,243
303
2,222
11,403

2,202
825
265
3,293
10,8993,406
2,967
10,101(94)
16,381

3,406
2,968
8,961
(76)
15,259

2,737
(111)
2,626
20
23
19,05230,455

3,491
(40)
3,451
14
24
18,75029,649(2) Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
Fiscal year ended
March 31, 2023
March 31, 2024
Net sales
42,79938,344
Cost of sales
31,16828,261Gross profit
11,63010,082
Selling, general and administrative expenses
9,194
8,842
Operating profit
2,436
1,240
Non-operating income
Interest income
61
77
Foreign exchange gains–
130
Subsidy income
27
33
Other
79
56
Total non-operating income
168297
Non-operating expenses
Interest expenses
6242
Foreign exchange losses
106–
Compensation expenses
17
43
Other
25
30
Total non-operating expenses
211
116
Ordinary profit
2,394
1,421
Extraordinary income
Gain on sale of non-current assets
16
97
Total extraordinary income
1697
Extraordinary losses
Loss on sale and retirement of non-current assets
36
14
Impairment losses
297
393
Loss on business restructuring–
792
Retirement benefit expenses–
45
Loss on liquidation of subsidiaries
–
357
Other
–
15
Total extraordinary losses
334
1,619
Profit (loss) before income taxes
2,075
(100)
Income taxes - current
732
416
Income taxes - deferred(54)
54
Total income taxes
678
470
Net profit (loss)
1,397
(571)
Profit attributable to non-controlling interests
6
5
Profit (loss) attributable to owners of parent
1,390
(577)

6

Consolidated statements of comprehensive income

Net profit (loss)
Other comprehensive income
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests

7

Fiscal year ended
March 31, 2023
1,397

(Millions of yen)
Fiscal year ended
March 31, 2024
(571)

776
(35)
740
2,137

748
71
819
248

2,130

247

7

0

(3) Consolidated statements of changes in equity
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of period

Capital surplus

Retained earnings

2,944

2,512

461

461

Total shareholders’’
equityTreasury shares

9,057

(136)

14,378Changes during period
Issuance of new shares

923

Dividends of surplus

(346)

(346)

Profit attributable to owners ofparent

1,390

1,390

Purchase of treasury shares
Disposal of treasury shares

(6)

41

35

Net changes in items otherthan shareholders’ equity
Total changes during period

461

455

1,043

41

2,002

Balance at end of period

3,406

2,967

10,101(94)

16,381

Accumulated other comprehensive income
Foreigncurrencytranslation
adjustment
Balance at beginning of period

1,962

Total
accumulatedof defined benefit
other
plans
comprehensive
incomeRemeasurements

(75)

1,886

Share
acquisitionrights26

Non-controlling
Total net assetsinterests

16

16,307

Changes during period
Issuance of new shares

923

Dividends of surplus(346)

Profit attributable to owners ofparent

1,390

Purchase of treasury shares
Disposal of treasury shares

35

Net changes in items otherthan shareholders’ equity

775

(35)

740

(5)

7

742

Total changes during period

775

(35)

740

(5)

7

2,745

Balance at end of period

2,737

(111)

2,626

20

23

19,0528

Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of period

Capital surplus

3,406

Retained earnings

2,967

Total shareholders’equityTreasury shares

10,101(94)

16,381

Changes during period
Dividends of surplus

(562)

(562)

Profit (loss) attributable toowners of parent

(577)

(577)

Purchase of treasury shares
Disposal of treasury shares

0

(0)

(0)

17

18

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period–

0(1,139)17(1,121)

3,406

2,968

8,961

(76)

15,259

Accumulated other comprehensive income
Foreigncurrencytranslation
adjustment
Balance at beginning of period

2,737

Total
accumulatedof defined benefit
other
plans
comprehensive
incomeRemeasurements

(111)

2,626

Share
acquisitionrights20

Non-controlling
Total net assetsinterests

23

19,052

Changes during period
Dividends of surplus(562)

Profit (loss) attributable toowners of parent(577)

Purchase of treasury shares(0)

Disposal of treasury shares

18

Net changes in items otherthan shareholders’ equity

754

71

825

(6)

0

819

Total changes during period

754

71

825

(6)

0

(301)

Balance at end of period

3,491

(40)

3,451

14

24

18,7509

(4) Consolidated statements of cash flows(Millions of yen)
Fiscal year ended
March 31, 2024

Fiscal year ended
March 31, 2023
Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Impairment losses
Amortization of goodwill
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in allowance for doubtful
accounts
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sale and retirement of non-current
assetsDecrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other, andaccrued expenses
Subsidy income
Other, net
SubtotalInterest and dividends received
Interest paid
Subsidies received
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Net decrease (increase) in time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Proceeds from collection of long-term loans
receivable
Long-term loan advances
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee
deposits
Other, net
Net cash provided by (used in) investing activities

10

2,075
1,130
297
24
47
(21)

(100)
1,166
393
49
(317)
(77)

(17)

–

11

(12)

(61)
62
73

(77)
42
(227)

20

(82)

463
82
(565)

948
900
(315)

(276)

(293)

(27)
(58)
3,261
61
(53)
27
(736)
2,560

(33)
(113)
1,847
77
(53)
33
(628)
1,276

147
(1,138)
12
(148)

(27)
(866)
253
(47)

7

6

(4)

(2)

(457)

–

(9)

(17)

43

20

0
(1,546)0(680)

(Millions of yen)
Fiscal year ended
March 31, 2024

Fiscal year ended
March 31, 2023
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of installment payables
Repayments of lease liabilities
Redemption of bonds
Proceeds from issuance of shares
Dividends paid
Other, net
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
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

11

(667)
367
(798)
(83)
(140)
(5)
918
(346)
–
(756)

(1,302)
3,400(1,312)
(71)
(143)
(10)
–
(562)
0
(2)

286

196

543
4,669
5,212

791
5,212
6,003

(5) Notes on consolidated financial statements
Notes related to the going concern assumption
There is nothing to report.
Segment information, etc.
[Segment Information]
This information is omitted because the Group has only one segment, the parts of molds and dies business.

[Related Information]
Fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)
1. Information by Finished Goods or Service
This information is omitted because the Group’s net sales to external customers in one category of finished goods
or service exceeds 90% of net sales on the consolidated statement of income.
2. Information by Region(1) Net salesJapan
14,104

China
23,451(Millions of yen)
Total

Other
5,244

42,799Note: Sales are categorized by country or region based on the customer’s location.

(2) Property, plant and equipment
Japan
1,422

China

(Millions of yen)
Total

Other

5,268

623

7,314

3. Information by Major Customer
Information by major customer is omitted because, compared to net sales to all external customers, net sales to a
specific customer does not amount to 10% of the net sales on the consolidated statement of income.
Fiscal year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)
1. Information by Finished Goods or Service
This information is omitted because the Group’s net sales to external customers in one category of finished goods
or service exceeds 90% of net sales on the consolidated statement of income.
2. Information by Region(1) Net salesJapan
12,438Note:

China
20,443(Millions of yen)
Total

Other
5,462

38,344

Sales are categorized by country or region based on the customer’s location.

(2) Property, plant and equipment
Japan
1,193

China
5,028

(Millions of yen)
Total

Other
627

6,848

3. Information by Major Customer
Information by major customer is omitted because, compared to net sales to all external customers, net sales to a
specific customer does not amount to 10% of the net sales on the consolidated statement of income.

12

[Information on Impairment Losses on Non-Current Assets by Reporting Segment]
Fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)
Consolidated impairment losses on non-current assets recorded in the current fiscal year amounted to ¥297
million. The information is not presented by reporting segment because the Group has only one segment, the partsof molds and dies business.
Fiscal year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)
Consolidated impairment losses on non-current assets recorded in the current fiscal year amounted to ¥393
million. The information is not presented by reporting segment because the Group has only one segment, the partsof molds and dies business.
[Information on Amortization and Unamortized Balance of Goodwill by Reporting Segment]
Fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)
Consolidated amortized goodwill and unamortized balance of goodwill recorded in the current fiscal year
amounted to ¥24 million and ¥466 million, respectively. The information is not presented by reporting segment
because the Group has only one segment, the parts of molds and dies business.
Fiscal year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)
Consolidated amortized goodwill and unamortized balance of goodwill recorded in the current fiscal year
amounted to ¥49 million and ¥417 million, respectively. The information is not presented by reporting segment
because the Group has only one segment, the parts of molds and dies business.
[Information on Gain on Bargain Purchase by Reporting Segment]
There is nothing to report.

13

Per share information(Yen)
Fiscal year ended
March 31, 2023
Net assets per share
Earnings (loss) per share

Fiscal year ended
March 31, 2024

778.02764.81

60.58(23.61)

Diluted earnings per share
60.15–
Notes: 1. Diluted earnings per share for the fiscal year ended March 31, 2024 is not shown because loss per share was recorded,
although there are potential shares.
2. The calculations for the earnings per share and the diluted earnings per share are based on the following.
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Earnings per share
Profit (loss) attributable to owners of parent(million yen)
Profit not attributable to common shareholders(million yen)
Profit (loss) attributable to owners of parent
pertaining to common shares (million yen)
Average number of common shares during theperiod (thousand shares)

1,390

(577)

–

–

1,390

(577)

22,94724,452

–

–

165

–

[165]

[–]

–

–

Diluted earnings per share
Adjustments to profit attributable to owners ofparent (million yen)
Number of increased common shares (thousand
shares)[Share acquisition rights (thousand shares)]
Overview of dilutive shares not included in
calculating diluted earnings per share due to no
dilutive effectSignificant events after the reporting period
There is nothing to report.

14

4. Non-consolidated Financial Statements and Significant Notes Thereto(1) Non-consolidated balance sheets
As of March 31, 2023

(Millions of yen)
As of March 31, 2024

857
630
2,069
768
95
252
66

1,301
782
1,819
707
91
318
65

–

140

2,056

1,014

124
(0)
6,921

115
(1)
6,356

478
0
0
0
0
639
–
1,118

458
0
12
0
6
639
0
1,117

–
–

12
12

0
2,647
5

0
2,647
5

3,995

3,995

2

3

2,270

2,467

7
40
71
(2,179)6,862
7,981
14,9024–
54(2,472)
6,708
7,838
14,195

AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Prepaid expenses
Short-term loans receivable from subsidiaries andassociates
Accounts receivable from subsidiaries and associates- other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Structures
Machinery and equipment
VehiclesTools, furniture and fixtures
Land
Construction in progress
Total property, plant and equipment
Intangible assets
SoftwareTotal intangible assets
Investments and other assets
Investment securities
Shares of subsidiaries and associates
Investments in capital
Investments in capital of subsidiaries andassociates
Distressed receivables
Long-term loans receivable from subsidiaries andassociates
Long-term loans receivable from employees
Prepaid pension costs
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

15

As of March 31, 2023

(Millions of yen)
As of March 31, 2024

137
999
790
1,300
705
585
95
250
23
–
332
74
5,295

140
919
646
–
1,351
471
84
141
26
0
294
24
4,100

534
0
1,039
115
8
1,698
6,994

2,202
0
756
117
0
3,078
7,178

3,406

3,406

952
2,014
2,967

952
2,015
2,968

98

98

210
1,299
1,607
(94)
7,887
20
7,908
14,902

210
395
704
(76)
7,002
14
7,016
14,195

Liabilities
Current liabilities
Notes payable - trade
Electronically recorded obligations - operating
Accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - otherAccrued expenses
Income taxes payable
Deposits received
Unearned revenue
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Provision for retirement benefits
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Legal capital surplus
Other capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders’ equity
Share acquisition rights
Total net assets
Total liabilities and net assets

16

(2) Non-consolidated statements of income
Fiscal year ended
March 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Provision of allowance for doubtful accounts
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Reversal of allowance for doubtful accounts
Total extraordinary income
Extraordinary losses
Loss on sale and retirement of non-current assets
Impairment losses
Loss on business restructuring
Loss on liquidation of subsidiaries
Retirement benefit expenses
Total extraordinary losses
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Net profit (loss)

17(Millions of yen)
Fiscal year ended
March 31, 2024

14,777
10,832
3,945
4,001
(55)

13,157
9,422
3,734
3,734
0

51
2,230
40
2,322

52
1,171
153
1,377

59
105
190
27
383
1,883

29
–
291
23
344
1,033

0
157
157

27
–
27

18
297
–
–
–
316
1,724
284
(0)
284
1,439

0
350
792
39
45
1,228
(167)
173
(0)
173
(340)

(3) Non-consolidated statements of changes in equity
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders’ equity
Capital surplus

Retained earnings
Other retained earnings

Share capital

Balance at beginning of
periodLegal capitalsurplus

Other capitalsurplus

Total capitalsurplus

Legal retained
earnings

2,944

491

2,020

2,512

63

461

461

General reserve
210

Retainedearnings
brought
forward

Total retained
earnings

240

514

(380)

(346)

1,439

1,439

Changes during period
Issuance of newsharesDividends ofsurplus461
34

Net profit
Purchase of treasury
shares
Disposal of treasury
shares(6)(6)

Net changes in
items other thanshareholders’ equity
Total changes during
periodBalance at end of
period

461

461

(6)

455

34

–

1,058

1,093

3,406

952

2,014

2,967

98

210

1,299

1,607

Share
acquisitionrightsTotal net assets

26

5,860

Shareholders’ equity

Balance at beginning of
periodTreasury shares

Total
shareholders’equity

(136)

5,834

Changes during period
Issuance of newsharesDividends ofsurplus
Net profit
Purchase of treasury
shares
Disposal of treasury
shares

41

923

923

(346)

(346)

1,439

1,439

35

35

Net changes in
items other thanshareholders’ equity
Total changes during
periodBalance at end of
period

(5)

(5)

41

2,052

(5)

2,047

(94)

7,887

20

7,908

18

Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders’ equity
Capital surplus

Retained earnings
Other retained earnings

Share capital

Balance at beginning of
periodLegal capitalsurplus

Other capitalsurplus

Total capitalsurplus

Legal retained
earnings

952

2,014

2,967

98

3,406

General reserve
210

Retainedearnings
brought
forward

Total retained
earnings

1,299

1,607

Dividends ofsurplus

(562)

(562)

Net profit (loss)

(340)

(340)

Changes during period

Purchase of treasury
shares
Disposal of treasury
shares00

Net changes in
items other thanshareholders’ equity
Total changes during
periodBalance at end of
period

–

–

0

0

–

–

(903)

(903)

3,406

952

2,015

2,968

98

210

395

704

Shareholders’ equity

Balance at beginning of
periodTreasury shares

Total
shareholders’equity

(94)

7,887

Share
acquisitionrightsTotal net assets

20

7,908

Changes during period
Dividends ofsurplus

(562)

(562)

Net profit (loss)

(340)

(340)

(0)

(0)

(0)

17

18

18

Purchase of treasury
shares
Disposal of treasury
sharesNet changes in
items other thanshareholders’ equity
Total changes during
periodBalance at end of
period

(6)

(6)

17

(885)

(6)

(891)

(76)

7,002

14

7,016

19