November 8, 2021

Summary of Consolidated Financial Results
for the Second Quarter of Fiscal Year Ending March 31, 2022 (FY2021)(Six Months Ended September 30, 2021)[Japanese GAAP]
Company name:
ZUKEN Inc.
Listing: Tokyo Stock Exchange, First Section
Stock code:
6947
URL: https://www.zuken.co.jp
Representative:
Jinya Katsube, President and Representative Director
Contact:
Susumu Yoshida, General Manager of Finance Department
Tel: +81-45-942-1511
Scheduled date of filing of Quarterly Report:
November 10, 2021
Scheduled date of payment of dividend:
December 2, 2021
Preparation of supplementary materials for quarterly financial results:
None
Holding of quarterly financial results meeting:None(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Second Quarter Ended September 30, 2021
(April 1, 2021 – September 30, 2021)(1) Consolidated results of operations(Percentages represent year-on-year changes)
Net sales

Operating profit

Millions of yen%
Six months ended
Sep. 30, 2021
14,981
14.6
Sep. 30, 2020
13,071(4.6)
Note: Comprehensive income (Millions of yen)

Net income per share

Millions of yen

Profit attributable toowners of parent

Ordinary profit

Millions of yen

%

1,851
91.7
1,953
82.9
1,357
966 (45.7)
1,068 (41.5)
702
Six months ended Sep. 30, 2021:
3,207 (up 58.6%)
Six months ended Sep. 30, 2020:
2,022 (up 13.1%)%

Millions of yen%

93.1(50.5)

Diluted net income per
share

Yen
Yen
Six months ended
Sep. 30, 2021
58.37
Sep. 30, 2020
30.22
Note: Effective from the beginning of the first quarter of the fiscal year ending on March 31, 2022, Zuken applied the AccountingStandard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020), etc. All figures for the six months ended
September 30, 2021 incorporate this accounting standard.

(2) Consolidated financial position
Total assets

Net assets

Millions of yen

Shareholders’ equity ratio

Millions of yen%

As of Sep. 30, 2021
61,26541,656
67.4
As of Mar. 31, 2021
57,16838,842
67.4
Reference: Shareholders’ equity (Millions of yen)
As of Sep. 30, 2021: 41,317
As of Mar. 31, 2021: 38,505
Note: Effective from the beginning of the first quarter of the fiscal year ending on March 31, 2022, Zuken applied the AccountingStandard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020), etc. All figures as of September 30, 2021
incorporate this accounting standard.

2. Dividends
1Q-endDividend per share
3Q-end2Q-endYen

Year-end

Total

Yen

Yen

Yen

Yen

Fiscal year ended Mar. 31, 2021
15.00
Fiscal year ending Mar. 31, 2022
16.00
Fiscal year ending Mar. 31, 2022 (forecast)
Note: Revisions to the most recently announced dividend forecast: None

-

15.00

30.00

-

16.00

32.00

3. Consolidated Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 – March 31, 2022)
Net sales
Millions of yen

Operating profit%

Millions of yen

Ordinary profit(Percentages represent year-on-year changes)
Profit attributable to
Net income perowners of parent
share% Millions of yen%

Millions of yen%

Yen

Full year
31,000
7.6
3,500
21.0
3,600
Note: Revisions to the most recently announced consolidated forecast: Yes

14.2

3,200

49.7

137.64

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in change in scopeof consolidation): None
(2) Application of special accounting methods for presenting quarterly consolidated financial statements: None
(3) Changes in accounting policies and accounting-based estimates, and restatements(a) Changes in accounting policies due to revisions in accounting standards, others:

Yes(b) Changes in accounting policies other than (a) above:None(c) Changes in accounting-based estimates:

None(d) Restatements:
None
Note: Please refer to “2. Quarterly Consolidated Financial Statements and Notes, (4) Notes to Quarterly Consolidated Financial
Statements, Changes in Accounting Policies” on page 8 for further information.

(4) Number of outstanding shares (common stock)(a) Number of shares outstanding at the end of the period (including treasury shares)
As of Sep. 30, 2021:

23,267,169 shares

As of Mar. 31, 2021:

23,267,169 shares

As of Mar. 31, 2021:

18,026 shares(b) Number of treasury shares at the end of the period
As of Sep. 30, 2021:

18,234 shares(c) Average number of shares outstanding during the period
Six months ended Sep. 30, 2021:

23,249,028 shares

Six months ended Sep. 30, 2020:

23,249,402 shares* The current quarterly financial report is not subject to quarterly review by certified public accountants or auditing firms .
* Cautionary statement with respect to forward-looking statements and other special items
Forecasts of future performance in this report are based on assumption judged to be valid and information available to theCompany’s management at the time this report was prepared, but are not promises by the Company regarding future performance.
Actual results may differ substantially from the forecasts for a number of reasons. Please refer to “1. Qualitative Information on
Quarterly Consolidated Financial Performance, (3) Explanation of Consolidated Forecast and Other Forward-looking Statements”
on page 2 for forecast assumptions and notes of caution for usage.

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021

Contents of Attachments
1.

Qualitative Information on Quarterly Consolidated Financial Performance ........................................................ 2(1) Explanation of Results of Operations ................................................................................................................ 2(2) Explanation of Financial Position ...................................................................................................................... 2(3) Explanation of Consolidated Forecast and Other Forward-looking Statements ................................................. 2

2.

Quarterly Consolidated Financial Statements and Notes ..................................................................................... 3(1) Quarterly Consolidated Balance Sheet .............................................................................................................. 3(2) Quarterly Consolidated Statements of Income and Comprehensive Income ...................................................... 5
Quarterly Consolidated Statement of Income ...................................................................................................... 5
Quarterly Consolidated Statement of Comprehensive Income ............................................................................. 6(3) Quarterly Consolidated Statement of Cash Flows ............................................................................................. 7(4) Notes to Quarterly Consolidated Financial Statements ...................................................................................... 8
Going Concern Assumption................................................................................................................................. 8
Significant Changes in Shareholders’ Equity....................................................................................................... 8
Changes in Accounting Policies .......................................................................................................................... 8
Segment Information ........................................................................................................................................... 9
Revenue Recognition .......................................................................................................................................... 93.

Supplementary Information ............................................................................................................................... 10(1) Sales and Orders .............................................................................................................................................. 101

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation of Results of Operations
In the first half of the current fiscal year, the overall economic outlook remained uncertain owing to concerns about
re-resurgence in COVID-19 infections, although the economies in Europe and the United States were recovering
gradually as restrictions on some activities were progressively eased. Manufacturers in the electronics, automotive
and industrial equipment sectors are the main customers of the Zuken Group, and many companies in these sectors
continued to make substantial IT investments and there are signs of recovery in overall capital expenditures.
Net sales in the first half increased to 14,981 million yen, 14.6% higher than one year earlier and a new record highfor the first half of a fiscal year. Sales in all solution categories steadily increased. Sa les of our core CR-8000 series,
an electronic system design solution series and the “E3.series,” a wire harness design system, were particularly
strong in Europe, the United States and Japan.
Earnings were much higher because of the increase in sales. Operating profit was 1,851 million yen, 91.7% higher
than one year earlier, and ordinary profit was up 82.9% to 1,953 million yen. Both are all-time highs for the firsthalf of a fiscal year. Profit attributable to owners of parent was up 93.1% to 1,357 million yen.
(2) Explanation of Financial Position
Total assets at the end of the second quarter of the current fiscal year increased 4,097 million yen from the end of
the previous fiscal year to 61,265 million yen.
Current assets increased 1,645 million yen. The main factors include increases of 3,145 million yen in cash anddeposits and 731 million yen in other current assets due to an increase in prepaid expenses, and a decrease of 2,403
million yen in notes and accounts receivable-trade. Non-current assets increased 2,452 million yen. The main
factors include an increase of 2,517 million yen in investments and other assets primarily due to an increase ininvestment securities.
Total liabilities increased 1,283 million yen from the end of the previous fiscal year to 19,609 million yen. Current
liabilities increased 490 million yen. There were an increase of 1,505 million yen in advances received, anddecreases of 472 million yen in other current liabilities due to a decrease in accounts payable-other, 324 million
yen in accounts payable-trade and 199 million yen in income taxes payable. Non-current liabilities increased 793
million yen mainly due to an increase in deferred tax liabilities included in other non -current liabilities.
Net assets increased 2,813 million yen from the end of the previous fiscal year to 41,656 million yen, and theshareholders’ equity ratio was 67.4%.
(3) Explanation of Consolidated Forecast and Other Forward-looking Statements
We have reviewed the current performance trends and revised the consolidated forecast for the fiscal year ending
March 31, 2022 that was announced on May 10, 2021. For more information, please refer to “Revision to
Earnings Forecast” that was announced today (November 8, 2021).

2

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance SheetFY2020(As of Mar. 31, 2021)(Thousands of yen)
Second quarter of FY2021(As of Sep. 30, 2021)

AssetsCurrent assets
Cash and deposits

21,693,586

24,839,319

Notes and accounts receivable-trade

6,806,824

4,403,130

Securities

6,700,000

6,700,000

Merchandise and finished goods

466,069

505,431Work in process

101,913238,096

2,158

1,824

Other

3,525,251

4,256,321

Allowance for doubtful accounts(19,098)(22,170)

39,276,705

40,921,953

Buildings and structures, net

2,760,128

2,682,242

Land

3,015,103

3,015,103

Raw materials and supplies

Total current assets
Non-current assets
Property, plant and equipment

Other, net

488,222538,273

6,263,454

6,235,619

Goodwill

656,516

593,444

Other

640,839

666,730

1,297,355

1,260,174

9,114,007

11,645,309

Total property, plant and equipment
Intangible assets

Total intangible assets
Investments and other assets
Investment securities
Other

1,216,553

1,202,891

Total investments and other assets

10,330,561

12,848,200

17,891,371

20,343,994

57,168,076

61,265,947

Total non-current assets
Total assets

3

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021

FY2020(As of Mar. 31, 2021)(Thousands of yen)
Second quarter of FY2021(As of Sep. 30, 2021)

Liabilities
Current liabilities
Accounts payable-trade

1,166,026

841,877

Income taxes payable

578,485

379,215

Advances received

7,688,741

9,194,280

Provision for bonuses

925,619

966,986

Other provisions

110,116

49,218Other

2,181,249

1,709,005

Total current liabilities

12,650,238

13,140,582

Retirement benefit liability

4,457,677

4,524,470

Other

1,218,060

1,944,814

Non-current liabilities

Total non-current liabilities
Total liabilities

5,675,738

6,469,285

18,325,976

19,609,867

10,117,065

10,117,065

Net assets
Shareholders’ equity
Share capital
Capital surplus

8,662,477

8,662,477

Retained earnings

15,614,931

16,579,011

Treasury shares
Total shareholders’ equity(17,734)(18,428)

34,376,739

35,340,126

4,510,039

6,170,360

48,857

105,610

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans(430,263)(298,911)

Total accumulated other comprehensive income

4,128,633

5,977,058

336,727

338,894

38,842,100

41,656,079

57,168,076

61,265,947

Non-controlling interests
Total net assets
Total liabilities and net assets

4

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income(For the Six-month Period)(Thousands of yen)First six months of FY2020
First six months of FY2021(Apr. 1, 2020 – Sep. 30, 2020) (Apr. 1, 2021 – Sep. 30, 2021)
Net sales

13,071,338

14,981,684

Cost of sales

3,903,443

4,568,502

Gross profit

9,167,894

10,413,181

Selling, general and administrative expenses

8,201,826

8,561,432

966,067

1,851,749

Operating profit
Non-operating income
Interest income

4,117

3,947

Dividend income

39,84968,467

Subsidy income

40,14532,270Other

35,704

19,677

Total non-operating income

119,818

124,362

15,16817,495Non-operating expenses
Foreign exchange losses
Other

2,212

4,679

Total non-operating expenses

17,38022,175

1,068,505

1,953,937

Gain on sale of non-current assets

932

574

Total extraordinary income

932

574

302

136

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on disposal of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes-current

302

136

1,069,135

1,954,374

318,227

551,298

Income taxes-deferred

115,678

43,895

Total income taxes

433,905

595,194

Profit635,229

1,359,180

Profit (loss) attributable to non-controlling interests(67,402)

2,167

Profit attributable to owners of parent

702,631

1,357,012

5

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021

Quarterly Consolidated Statement of Comprehensive Income(For the Six-month Period)(Thousands of yen)First six months of FY2020
First six months of FY2021(Apr. 1, 2020 – Sep. 30, 2020) (Apr. 1, 2021 – Sep. 30, 2021)
Profit635,229

1,359,180

1,228,115

1,660,320

87,41256,752Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income

72,158131,351

1,387,685

1,848,424

2,022,915

3,207,605

2,090,317

3,205,437(67,402)

2,167

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021(3) Quarterly Consolidated Statement of Cash FlowsFirst six months of FY2020(Apr. 1, 2020 – Sep. 30, 2020)(Thousands of yen)First six months of FY2021(Apr. 1, 2021 – Sep. 30, 2021)

1,069,135

1,954,374

Depreciation

347,224

334,499

Amortization of goodwill

134,145

91,190Decrease (increase) in trade receivables

2,476,260

2,177,768

Decrease (increase) in inventories(172,458)(175,256)

Increase (decrease) in trade payables(924,535)(438,904)

Increase (decrease) in accrued consumption taxes(177,213)(78,089)

Increase (decrease) in advances received

484,511

1,482,485

Decrease (increase) in prepaid expenses(433,289)(736,989)

Cash flows from operating activities
Profit before income taxes

Increase (decrease) in retirement benefit liability

85,532

202,099

Other, net(323,262)(151,353)

Subtotal

2,566,050

4,661,824

Interest and dividends received

45,41365,978Interest paid

(1,138)(1,018)

Income taxes paid

(753,268)(748,468)

Net cash provided by (used in) operating activities

1,857,057

3,978,315

Purchase of property, plant and equipment(104,684)(155,033)

Purchase of intangible assets(154,075)(162,973)

Cash flows from investing activities

Purchase of investment securities-(138,909)

Other, net(21,259)(11,837)

Net cash provided by (used in) investing activities(280,019)(468,754)(348,742)(348,737)

Cash flows from financing activities
Dividends paid
Other, net(41,864)(17,696)

Net cash provided by (used in) financing activities(390,606)(366,434)

97,652

722

Net increase (decrease) in cash and cash equivalents

1,284,085

3,143,849

Cash and cash equivalents at beginning of period

20,306,950

21,412,529

Cash and cash equivalents at end of period

21,591,035

24,556,378

Effect of exchange rate change on cash and cash
equivalents

7

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021(4) Notes to Quarterly Consolidated Financial Statements
Going Concern Assumption
Not applicable.
Significant Changes in Shareholders’ Equity
Not applicable.
Changes in Accounting Policies
1. Application of the Accounting Standard for Revenue Recognition, etc.
Effective from the beginning of the first quarter of the fiscal year ending on March 31, 2022, Zuken applied the
Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020) etc. Based on thisstandard, revenue expected to be received in exchange for the provision of goods and services is recognized when
the control of the promised goods and services is transferred to customers. The main changes resulting from thisapplication are as follows.
(1) Revenue recognition for sales of products
For some transactions, Zuken delivers the relevant products and provides free maintenance services within thewarranty period based on the contract with the customer. Previously, Zuken did not recognize revenue for such
maintenance services. However, Zuken has decided to identify performance obligations related to the delivery of
products and performance obligations related to such maintenance services and recognize revenue when eachperformance obligation is satisfied.
(2) Revenue recognition for agent transactions
For some transactions, the Zuken Group previously recognized revenue based on the total amount of consideration
received from the customer. However, for transactions in which the Zuken Group’s role in providing goods orservices to the customer is that of an agent, the Zuken Group has decided to recognize revenue based on the net
amount received from the customer less the amount paid to the supplier.
For the application of the Accounting Standard for Revenue Recognition, etc., in accordance with the transitional
treatment prescribed in the proviso to Paragraph 84 of this standard, the cumulative effect of the retrospective
application of the new accounting standard, if it is applied prior to the first quarter of the current fiscal year, isadded to or subtracted from retained earnings at the beginning of the first quarter of the current fiscal year. The
new standard is then applied beginning with this amount of retained earnings.
As a result, net sales decreased 111,916 thousand yen, cost of sales decreased 120,478 thousand yen, and operating
profit, ordinary profit and profit before income taxes increased 8,562 thousand yen each in the first six months ofthe current fiscal year. In addition, the new standard reduced retained earnings at the beginning of the first half by
44,195 thousand yen.
Furthermore, in accordance with the transitional treatment prescribed in Paragraph 28 -15 of the AccountingStandard for Quarterly Financial Reporting (ASBJ Statement No. 12, March 31, 2020), Zuken has not presented
information on revenue from contracts with customers broken down for the first half of the previous fiscal year.
2. Application of the Accounting Standards for Fair Value Measurement, etc.
Effective from the beginning of the first quarter of the fiscal year ending on March 31, 2022, Zuken applied the
Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30, July 4, 2019), etc. and has applied the
new accounting policies set forth by the Accounting Standard for Fair Value Measurement, etc. prospectively inaccordance with the transitional treatment prescribed in Paragraph 19 of the Accounting Standard for Fair Value
Measurement and Paragraph 44-2 of the Accounting Standard for Financial Instruments (ASBJ Statement No. 10,
July 4, 2019). There is no significant change in the calculation method of fair value as a result of this application.

8

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021

Segment Information
I. First six months of FY2020 (Apr. 1, 2020 – Sep. 30, 2020)
Information about reportable segment net sales and profit or loss
Reportable segment

Japan

EuropeAmericas

Asia

Total

9,438,578

2,090,753

930,416

611,589 13,071,338

496,608

432,962

21,344

52,834

9,935,187

2,523,716

951,760

816,756(36,024)

2,839(Thousands of yen)
Appropriatedamount in the
Adjustment
quarterly
amountconsolidated(Note 1)statement of income(Note 2)

Net sales
Sales to third parties
Intersegment sales ortransfers
Total
Segment profit (loss)-

13,071,338

1,003,750 (1,003,750)-

664,423 14,075,088 (1,003,750)

13,071,338

181,561

965,133934

966,067

Notes: 1. Adjustment amount in segment profit (loss) includes amount of 934 thousand yen eliminated for intersegment
transactions.
2. Segment profit (loss) is adjusted with operating profit in the quarterly consolidated statement of income.

II. First six months of FY2021 (Apr. 1, 2021 – Sep. 30, 2021)
Information about reportable segment net sales and profit or loss, and breakdown of revenue
Reportable segment

Japan

EuropeAmericas

Solutions

6,353,944

1,279,812

Client services

4,204,775

1,300,689

Sales to third parties
Intersegment sales ortransfers
Total

10,558,720

2,580,502

1,097,993

604,463474,109

29,013

11,163,183

3,054,611

1,127,006(Thousands of yen)
Appropriatedamount in the
Adjustment
quarterly
amountconsolidated(Note 1)statement of income(Note 2)

Asia

Total

606,903329,972

8,570,633-

8,570,633

491,089

414,496

6,411,051-

6,411,051

744,468 14,981,684-

14,981,684

1,160,179 (1,160,179)-

797,061 16,141,863 (1,160,179)

14,981,684

Net sales

52,592

Segment profit
1,403,363
133,61788,489227,821 1,853,292(1,542)
1,851,749
Notes: 1. Adjustment amount in segment profit includes amount of -1,542 thousand yen eliminated for intersegment
transactions.
2. Segment profit is adjusted with operating profit in the quarterly consolidated statement of income.

Revenue Recognition
Information of breakdown on revenue from contracts with customers is as described in “Notes to Quarterly
Consolidated Financial Statements (Segment Information).”As described in “Changes in Accounting Policies,” in accordance with the transitional treatment prescribed in
Paragraph 28-15 of the Accounting Standard for Quarterly Financial Reporting (ASBJ Statement No. 12, March 31,2020), Zuken has not presented information on revenue from contracts with customers broken down for the firsthalf of the previous fiscal year.

9

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021

3. Supplementary Information(1) Sales and Orders(a) Sales
Segment

First six months of FY2020(Apr. 1, 2020 – Sep. 30, 2020)
AmountComposition (%)(Thousands of yen)First six months of FY2021(Apr. 1, 2021 – Sep. 30, 2021)
AmountComposition (%)

Japan

9,438,578

72.2

10,558,720

70.5

Europe2,090,753

16.0

2,580,502

17.2

Americas930,416

7.1

1,097,993

7.3

611,589

4.7

744,468

5.0

13,071,338

100.0

14,981,684

100.0

Asia
Total
(b) Orders received and order backlog
Segment

First six months of FY2020(Apr. 1, 2020 – Sep. 30, 2020)
Orders received
Order backlog(Thousands of yen)First six months of FY2021(Apr. 1, 2021 – Sep. 30, 2021)
Orders received
Order backlog

Japan

11,336,049

9,560,225

12,690,072

11,044,448

Europe1,606,941

1,252,597

2,025,720

1,463,722

Americas725,566

1,182,976

901,162

1,159,787

637,295
Total
14,305,853
Note: Intersegment transactions have been eliminated.

460,206

728,159

525,614

12,456,006

16,345,114

14,193,573

Asia

10

ZUKEN Inc. (6947) Financial Results for the Second Quarter of FY2021(Reference) Results by product category are as follows.
(a) SalesFirst six months of FY2020(Apr. 1, 2020 – Sep. 30, 2020)
Product category
AmountComposition (%)(Thousands of yen)First six months of FY2021(Apr. 1, 2021 – Sep. 30, 2021)
AmountComposition (%)

Printed Circuit Board design solutions

1,843,258

14.1

2,073,331

13.8

Circuit design solutions

2,674,703

20.5

3,288,988

22.0

IT solutions

2,922,876

22.4

3,207,011

21.4

Client services

5,630,131

43.0

6,411,051

42.8

368

0.0

1,300

0.0

13,071,338

100.0

14,981,684

100.0

OthersTotal(b) Orders received and order backlog
Product category

First six months of FY2020(Apr. 1, 2020 – Sep. 30, 2020)
Orders received
Order backlog(Thousands of yen)First six months of FY2021(Apr. 1, 2021 – Sep. 30, 2021)
Orders received
Order backlog

Printed Circuit Board design solutions

2,140,604

1,110,040

2,321,762

1,083,951

Circuit design solutions

3,017,943

1,426,713

3,480,378

1,623,947

IT solutions

3,588,374

1,650,105

3,817,984

1,803,999

Client services

5,557,251

8,267,495

6,722,467

9,679,653

1,679

1,650

2,522

2,021

14,305,853
12,456,006
Note: Name of major products by product category are as follows.
CR-8000 Design Force
CR-8000 Board Designer
Major products of Printed Circuit Board design
CR-8000 DFM Center
solutions
CADSTAReCADSTAR
CR-8000 Design Gateway
CR-8000 System Planner
Major products of Circuit design solutions
E3.series
Cabling Designer
Harness Designer
DS-CR
DS-2 Expresso
Major products of IT solutions
DS-E3
PreSight visual BOM
GENESYS

16,345,114

14,193,573

Others
Total

This financial report is solely a translation of “Kessan Tanshin” (in Japanese, including attachments), which has been
prepared in accordance with accounting principles and practices generally accepted in Japan, for the convenience of readers
who prefer an English translation.

11