Note: This is an excerpt translation of the “Kessan Tanshin” for the convenience of overseas stakeholders.
In cases where any differences occur between the English version and the original Japanese version, theJapanese version shall prevail. F-TECH INC. assumes no responsibility for this translation or for direct,
indirect or any other forms of damages arising from the translation.

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
<under Japanese GAAP>

F-TECH INC.
19, Showanuma, Shobu-cho, Kuki City, Saitama, JAPAN1. Overview of Operating Results and Others(1) Overview of operating results for the fiscal year under review
The global economy during the fiscal year ended March 31, 2024 continued to face an uncertain outlook
due to the protracted situation in Ukraine, increased tension in the Middle East, and persistently highresource and energy prices, as well as the tightening of monetary policy in Europe and the U.S. and theeconomic slowdown in China. In the automotive industry, although the semiconductor shortage has
eased, the business environment remained challenging due to the tight supply-demand balance for laborin the U.S. and the late start of Japanese automakers in the shift to EVs in Chinese market.
In this business environment, the Group launched the 15th medium-term management plan in April 2023
under the slogan “We contribute to society by improving earning power and achieving sustainablegrowth.” With the basic policies “Back to Basics” and “Challenge for New,” the Group has been working
on a company-wide basis to achieve “Pursuing the essence of Monozukuri (manufacturing)” and“Providing our customers with new value.” As a result, the Group received many inquiries about newmodels from various customers, which led to the winning of orders. The Group was able to further
increase its corporate value, including receiving recognition and awards for production and quality froma number of customers.
As a result of these efforts, during the fiscal year under review, net sales increased by 14.4% year on year
to 298,759 million yen, operating profit increased by 81.9% year on year to 3,708 million yen, andordinary profit increased by 56.3% year on year to 3,001 million yen, while profit attributable to ownersof parent decreased by 2.9% year on year to 1,683 million yen.
Operating results by segment are as follows.
(Japan)Net sales increased by 31.1% year on year to 30,612 million yen due partly to an uptrend in production
volume at major customers amid the easing of semiconductor shortages, and the effect of mass
production of products ordered by new customers. On the other hand, in terms of profit and loss,
operating profit increased by 224.1% year on year to 1,352 million yen due to the effect of higher net
sales.
(North America)
Net sales increased by 21.7% year on year to 206,501 million yen due partly to an uptrend in production
volume at major customers amid the easing of semiconductor shortages, the effect of mass production of
newly ordered products, and the impact of a weaker yen. In terms of profit and loss, operating profit was
758 million yen (an operating loss of 1,040 million yen in the previous fiscal year). The Group returned
to profitability due partly to the effect of higher net sales, improvements in the production structure andinitiatives to pass on higher costs to product prices, despite the impact of rising labor costs amid the tightlabor market in the U.S.
(Asia)The production volume of major customers remained solid in Southeast Asian countries, however,decreased in the Chinese region. As a result, net sales decreased by 9.5% year on year to 61,645 million
yen. In terms of profit and loss, operating profit decreased by 35.4% year on year to 1,511 million yen.
(2) Overview of financial position for the fiscal year under review
As of March 31, 2024, total assets increased by 15,634 million yen from the end of the previous fiscal
year to 191,772 million yen, reflecting increases in cash and deposits, accounts receivable - trade, andmachinery, equipment and vehicles, net, offsetting decreases in merchandise and finished goods.
In spite of a decrease in long-term loans payable, liabilities increased by 8,648 million yen from the endof the previous fiscal year to 120,029 million yen, reflecting increases in notes and accounts payable trade, short-term loans payable, and accounts payable - other.
Net assets increased by 6,985 million yen from the end of the previous fiscal year to 71,742 million yen,reflecting increases in retained earnings and foreign currency translation adjustment.

-1-(3) Overview of cash flows for the fiscal year under review
As of March 31, 2024, cash and cash equivalents increased by 6,712 million yen from the end of theprevious fiscal year to 12,204 million yen (up 122.2% year on year).
Cash flows in the fiscal year under review and factors in increase or decrease from the previous fiscal
year are as follows.
(Cash flows from operating activities)
Net cash provided by operating activities amounted to 19,466 million yen. The main factors were 3,100
million yen in profit before income taxes, 14,559 million yen in depreciation, a decrease in inventories of
2,440 million yen, 2,816 million yen in interest expenses paid, and 2,940 million yen in income taxes
paid.
Compared with the previous fiscal year, cash flows from operating activities changed from 17,433
million yen provided to 19,466 million yen provided. This was mainly due to a decrease in inventories
and increases in depreciation and notes and accounts payable - trade.
(Cash flows from investing activities)
Net cash used in investing activities was 8,902 million yen. The main factor was 8,809 million yen inpurchase of property, plant and equipment.
Compared with the previous fiscal year, cash flows from investing activities changed from 16,342
million yen used to 8,902 million yen used. This was mainly due to decreases in the purchase of property,
plant and equipment and the purchase of shares of subsidiaries resulting in change in scope of
consolidation.
(Cash flows from financing activities)
Net cash used in financing activities amounted to 4,263 million yen. The main factors were 7,616 million
yen in net increase in short-term loans payable, 3,400 million yen in proceeds from long-term loans
payable, and 13,562 million yen in repayments of long-term loans payable.
Compared with the previous fiscal year, cash flows from financing activities changed from 2,340 million
yen provided to 4,263 million yen used. This was mainly due to an increase in short-term loans payable
and a decrease in proceeds from long-term loans payable.
(Reference) Transition of cash flow indicators
66th term
Fiscal year ended
March 31, 2021

67th term
Fiscal year ended
March 31, 2022

68th term
Fiscal year ended
March 31, 2023

69th term
Fiscal year ended
March 31, 2024

Equity ratio (%)

29.5

28.0

28.4

29.1

Market value-based equity ratio (%)

10.2

6.3

7.0

7.4

Ratio of interest-bearing debt to cash
flows (year)

5.0

36.2

4.2

3.9

Interest coverage ratio (times)

12.3

2.2

10.1

6.9

(Notes) Equity ratio: equity / total assets
Market value-based equity ratio: market capitalization / total assets
Interest-bearing debt to cash flow ratio (year): interest-bearing debt / cash flow
Interest coverage ratio: cash flow / paid interest* All indicators are calculated using consolidated-based financial figures.
* Market capitalization is calculated by multiplying the closing stock price at the end of the period by the number ofissued shares as of the end of the period (excluding treasury shares).
* The figure used for cash flow is “net cash provided by (used in) operating activities” on the consolidated
statements of cash flows. Interest-bearing debt includes all liabilities recorded on the consolidated balance sheetson which we paid interest. Furthermore, regarding the paid interest, we use the interest expenses paid recorded on
the consolidated statements of cash flows.

-2-(4) Forward-looking statements
For the earnings forecasts for the next fiscal year, although we expect revenue to remain mostly
unchanged from the previous fiscal year due to the uncertain outlook, including rising geopolitical risks
and trends in the Chinese market, we forecast net sales of 302,000 million yen, operating profit of 4,700
million yen, ordinary profit of 2,500 million yen, and profit attributable to owners of parent of 600
million yen, reflecting factors such as improvements in the production structure and initiatives to pass onhigher labor costs to product prices. Our assumptions for the exchange rate are 145 yen to the U.S. dollar,
and 20.50 yen to the Chinese yuan.
2. Basic Rationale for Selecting the Accounting Standards
The Group currently prepares the consolidated financial statements according to the generally accepted
accounting standards in Japan (Japanese GAAP), as it makes it possible to compare the consolidated
financial statements against previous fiscal year and against other companies.
With regard to adoption of International Financial Reporting Standards (IFRS), it is the Group’s policy torespond to this issue appropriately based on consideration of various domestic and international
circumstances.

-3-3. Consolidated financial statements and significant notes thereto(1)Consolidated balance sheets(Millions of yen)
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, net
Machinery, equipment and vehicles, net
Dies and tools, net
Land
Leased assets, net
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other
Total investments and other assets
Total non-current assets
Total assets-4-

As of March 31, 2024

5,491
628
37,177
5,296
7,632
12,702
3,729(55)
72,603

12,204604
41,3174,423
7,623
13,4383,502(44)83,06918,88445,363
2,785
6,059
724
13,005
5,461
92,284

21,73550,507
2,646
6,239
371
7,171
5,361
94,033

248
36
285

290
28
319

7,464
253
1,963
1,283
10,965103,534
176,137

9,485
269
3,427
1,167
14,350108,702
191,772(Millions of yen)

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable
Lease obligations
Income taxes payable
Accounts payable - otherNotes payable - facilities
Provision for directors’ bonuses
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for directors’ retirement benefits
Net defined benefit liability
Negative goodwill
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
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
Total net assets
Total liabilities and net assets-5-

As of March 31, 2023

As of March 31, 2024

24,16927,832
12,995
1,247
942
1,845
228
85
6,198
75,54427,902
38,537
12,782
1,029
769
2,214
177
49
8,590
92,05329,908
1,942
2,707
53
1,003
33
187
35,836111,380

22,043
1,671
2,994
56
956
28
226
27,975120,029

6,790
6,733
27,979(60)
41,4436,790
6,404
29,288(79)
42,404

543

1,154

386
7,731
(65)
8,595
14,71764,756
176,137

237
11,93792
13,421
15,916
71,742
191,772(2)Consolidated statements of income and comprehensive income(Millions of yen)
Fiscal year ended
March 31, 2023

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodForeign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Gain on bargain purchase
Gain on change in equity
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable toProfit attributable to owners of parent
Loss attributable to non-controlling interests
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
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests-6-

Fiscal year ended
March 31, 2024

261,156
242,414
18,741
16,702
2,038

298,759
276,435
22,323
18,615
3,708

97
59

149
69

306

600

880
343
1,688

1,232
276
2,328

1,758
47
1,806
1,921

2,825
209
3,034
3,001

26
1,237
153
1,416

14
－
157
172

12
24
36
3,300
2,398
(754)
1,643
1,657

3
69
73
3,100
3,139
(1,662)
1,477
1,623

1,734
(77)

1,683
(59)

13
397
3,530
(79)

676
(153)
5,198
143

259

211

4,121
5,778

6,076
7,700

5,305

6,509

472

1,190

(3) Consolidated statements of changes in net assets
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders’ equity
Capital stock
Balance at beginning of
periodCapital surplus

6,790

Retained earnings

6,733

Treasury shares

26,619Total shareholders’equity(62)

40,081

Changes of items during
periodDividends of surplus

(374)

(374)

Profit attributable toowners of parent

1,734

1,734

Purchase of treasury
shares
Disposal of treasury
sharesChange in ownershipinterest of parent due totransactions with noncontrolling interests
Net changes of items
other than shareholders’equityTotal changes of items during
periodBalance at end of period

0

(0)

(0)

1

1
–

–

0

1,360

1

1,361

6,790

6,733

27,979(60)

41,443

Accumulated other comprehensive income

Balance at beginning of
periodValuationdifference on
available-forsale securities

Deferred gains
or losses onhedges518–

Foreigncurrencytranslation
adjustment
4,498

Remeasuremen
ts of defined
benefit plans

Total
accumulated
othercomprehensive
incomeNoncontrollinginterests

7

5,025

15,472

Total net assets

60,578Changes of items during
periodDividends of surplus(374)

Profit attributable toowners of parent

1,734

Purchase of treasury
shares
Disposal of treasury
sharesChange in ownershipinterest of parent due totransactions with noncontrolling interests
Net changes of items
other than shareholders’equityTotal changes of items during
periodBalance at end of period

(0)
1
–

24

386

3,232

(73)

3,570

(754)

2,816

24

386

3,232

(73)

3,570

(754)

4,178

543

386

7,731

(65)

8,595

14,71764,756-7-

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

Balance at beginning of
periodCapital stock

Capital surplus

6,790

6,733

Retained earnings

Treasury shares

27,979Total shareholders’equity(60)

41,443

Changes of items during
periodDividends of surplus

(374)

(374)

Profit attributable toowners of parent

1,683

1,683

Purchase of treasury
shares
Disposal of treasury
sharesChange in ownershipinterest of parent due totransactions with noncontrolling interests
Net changes of items
other than shareholders’equityTotal changes of items during
periodBalance at end of period

(18)

(18)
–

(329)

(329)

–

(329)

1,309

(18)

960

6,790

6,404

29,288(79)

42,404

Accumulated other comprehensive income

Balance at beginning of
periodValuationdifference on
available-forsale securities

Deferred gains
or losses onhedges543

386

Foreigncurrencytranslation
adjustment
7,731

Remeasuremen
ts of defined
benefit plans

Total
accumulated
othercomprehensive
incomeNoncontrollinginterests

(65)

8,595

14,717

Total net assets

64,756

Changes of items during
periodDividends of surplus(374)

Profit attributable toowners of parent

1,683

Purchase of treasury
shares
Disposal of treasury
sharesChange in ownershipinterest of parent due totransactions with noncontrolling interests
Net changes of items
other than shareholders’equityTotal changes of items during
periodBalance at end of period

(18)
–
(329)

611

(149)

4,205

158

4,826

1,198

6,025

611

(149)

4,205

158

4,826

1,198

6,985

1,154

237

11,93792

13,421

15,916

71,742-8-

(4) Consolidated statements of cash flows(Millions of yen)
Fiscal year ended
March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Loss (gain) on change in equity
Gain on bargain purchaseAmortization of goodwill
Increase (decrease) in assets and liabilities related toretirement benefits
Increase (decrease) in provision for directors’
retirement benefits
Increase (decrease) in provision for directors’
bonusesInterest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on sales of property, plant and equipment
Loss on retirement of property, plant and equipment
Decrease (increase) in notes and accounts receivable- tradeDecrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade
Increase (decrease) in contract liabilities
Decrease (increase) in accounts receivable - other
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Other, net
Net cash provided by (used in) investing activities-9-

Fiscal year ended
March 31, 2024

3,300
13,112(153)(1,237)(5)

3,100
14,559
(157)
－
(5)

(255)

81

2

3

40

(36)

(157)
1,758
(752)

(219)
2,825
(854)

(306)

(600)

(13)
24

(11)
69

885

(827)

5,253
(278)
603
282
(902)
21,201190(1,730)(2,227)
17,433

2,440
1,926
701
211
1,759
24,966256(2,816)(2,940)19,466(15,651)
33
(37)
(47)

(8,809)
70
(57)
(164)

(632)

－

(6)
(16,342)57(8,902)

(Millions of yen)
Fiscal year ended
March 31, 2023
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Purchase of treasury shares
Cash dividends paid
Dividends paid to non-controlling interests
Repayments of lease obligations
Proceeds from sales of treasury shares
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- 10 -

Fiscal year ended
March 31, 2024

(11,830)
26,721(11,465)
(0)
(373)
(685)
(821)
1
794
2,340

7,616
3,400
(13,562)
(18)
(373)
(306)
(1,017)－－(4,263)

79

413

3,510
1,981
5,491

6,712
5,491
12,204

(5) Notes to consolidated financial statements
Uncertainties of entity’s ability to continue as going concern
Not applicable.
Basis of presentation and significant accounting policies for preparation of consolidated financial
statements
1. Disclosure of scope of consolidation(1) Number of consolidated subsidiaries: 18
Fukuda Engineering Co., Ltd.
Kyushu F.tech Inc.
Reterra Inc.
F&P Mfg., Inc.
F&P America Mfg., Inc.
F.tech R&D North America Inc.
F-TECH NORTH AMERICA INC.
F&P MFG. DE MEXICO S.A. DE C.V.
F.E.G. DE QUERETARO, S.A. DE C.V.
F.tech Zhongshan Inc.
F.tech Wuhan Inc.
F.tech R&D (Guangzhou) Inc.
Yantai Fuyan Mould Co., Ltd.
F.tech Philippines Mfg., Inc.
F.tech R&D Philippines Inc.
F.tech Mfg. (Thailand) Ltd.
PT. F.tech INDONESIA
India Steel Summit Private Limited(2) Number of non-consolidated subsidiaries: Two
Laguna Greenland Corp.
F.tech Automotive Components Private Limited
Reason for exclusion from scope of consolidation
The non-consolidated subsidiaries are small in scale and the amounts of their total assets, net sales,
profit (loss) (for the Company’s equity interest), retained earnings (for the Company’s equity
interest) and other financial statement items do not have a significant impact on the Company’s
consolidated financial statements.
2. Disclosure about application of equity method(1) Non-consolidated subsidiaries accounted for using the equity method
Not applicable.
(2) Number of associates accounted for using the equity method: Five
Johnan Manufacturing Inc.
JOHNAN AMERICA, Inc.
JOHNAN F.TECH (THAILAND) LTD.
JOHNAN DE MEXICO, S.A. DE C.V.
VEEGEE Auto Components Private Limited- 11 -

(3) Number of non-consolidated subsidiaries not accounted for using the equity method: Two
Laguna Greenland Corp.
F.tech Automotive Components Private Limited
Number of associates not accounted for using the equity method: Five
Progressive Tools & Components Pvt Ltd.
PT. JFD INDONESIA
JOHNAN WUHAN INC.
Johnan Kyushu Manufacturing Inc.
Johnan Foshan Inc.
Reason for exclusion from scope of equity method
The non-consolidated subsidiaries and associates that are not accounted for using the equity
method are excluded from the application of the equity method since such exclusion has no
significant impact on the Company’s consolidated financial statements in terms of profit (loss) (forthe Company’s equity interest), retained earnings (for the Company’s equity interest) and otherfinancial statement items, and overall they are of minor significance.
(4) The fiscal year ends of certain companies accounted for using the equity method are different from theconsolidated fiscal year end. In preparing the consolidated financial statements, the Company uses thefinancial statements of these companies as of their fiscal year end.
3. Disclosure about fiscal years, etc. of consolidated subsidiaries
Among the consolidated subsidiaries, the fiscal year end of F.tech Philippines Mfg., Inc. and F.tech R&D
Philippines Inc. is January 31 and the fiscal year end of F&P MFG.DE MEXICO S.A. DE C.V., F.E.G.
DE QUERETARO, S.A. DE C.V., F.tech Zhongshan Inc., F.tech Wuhan Inc., Yantai Fuyan Mould Co.,
Ltd., F.tech R&D (Guangzhou) Inc., and PT. F.tech INDONESIA is December 31.
In the preparation of the consolidated financial statements, the financial statements as of the fiscal year
ends of the respective subsidiaries are used. However, for major transactions that occurred between thesefiscal year ends and the consolidated fiscal year end, necessary adjustments are made in the consolidated
financial statements.
Changes in presentation(Consolidated statements of cash flows)
Since the amount of “Increase (decrease) in contract liabilities” included in “Other, net” presented under“Cash flows from operating activities” in the previous fiscal year became material in terms of amount, it
has been separately presented from the fiscal year under review. To reflect this change in presentation, theCompany has made certain reclassifications to its consolidated financial statements for the previous fiscal
year.
As a result, the amount of “Other, net” of (298) million yen, which was presented under “Cash flows
from operating activities” in the consolidated statements of cash flows for the previous fiscal year has
been reclassified into the amount of “Increase (decrease) in contract liabilities” of 603 million yen andthe amount of “Other, net” of (902) million yen.

- 12 -

Segment information, etc.
Segment information
1. Description of reportable segments
The reportable segments of the Company are components for which discrete financial information isavailable and whose operating results are regularly reviewed by the Board of Directors to makedecisions about resource allocation and assess their performance.
The Company is engaged in the manufacture and sale of auto parts, etc. As of the end of the current
fiscal year, four companies including the Company in Japan as well as six local corporations in North
America and nine local corporations in Asia each conduct the business operations. These local
corporations, which are independent management units, formulate comprehensive strategies anddevelop business activities in each area.
For this reason, the Company consists of regional segments based on the manufacturing and sales
systems and has three reportable segments, namely Japan, North America and Asia.
2. Explanation of measurements of net sales, profit (loss), assets, liabilities, and other items for eachreportable segment
The accounting procedures for reportable segments are consistent with those stated in “Basis ofpresentation and significant accounting policies for preparation of consolidated financial statements.”
Profit of reportable segments is based on operating profit (before amortization of goodwill).
Intersegment sales and transfers are based on prevailing market prices.
3. Disclosure of net sales, profit (loss), assets, liabilities, and other items for each reportable segment
Fiscal year ended March 31, 2023
(Millions of yen)
Reportable segments
Japan
Net sales
Net sales to external customers
Intersegment sales and transfers
Total

Asia

Total

23,355
13,989169,650
1,312

68,1492,162

261,156
17,46437,345

170,962

70,311

278,620417(1,040)

2,340

1,716

69,588105,623

45,404

220,616

Segment profit (loss)
Segment assets

North America

Fiscal year ended March 31, 2024
(Millions of yen)
Reportable segments
Japan
Net sales
Net sales to external customers
Intersegment sales and transfers
Total

North America

Asia

Total

30,612
11,231

206,501
1,611

61,645
2,915

298,759
15,75941,844

208,11364,560314,518

Segment profit

1,352

758

1,511

3,622

Segment assets

74,877

114,086

49,148238,112- 13 -

4. Differences between total amounts for reportable segments and amounts in the consolidated financial
statements and main details of these differences (matters relating to difference adjustments)(Millions of yen)
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Reportable segments total

278,620

314,518

Elimination of intersegment transactions(17,464)(15,759)

Net sales in the consolidated financial statements

261,156

298,759

Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

1,716

3,622

321

85

2,038

3,708

Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Reportable segments total

220,616

238,112

Elimination of intersegment transactions(44,472)(46,335)(6)(5)

176,137

191,772

Net sales(Millions of yen)
ProfitReportable segments total
Elimination of intersegment transactions
Operating profit in the consolidated financial statements(Millions of yen)
AssetsOther adjustments
Total assets in the consolidated financial statements

5. Disclosure of impairment loss on non-current assets and goodwill, etc. for each reportable segment
Not applicable.

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Business combinations, etc.
Transactions under common control, etc.
(Additional acquisition of shares in a consolidated subsidiary)
On December 21, 2023, the Company decided on and implemented an acquisition of shares in F&P
America Mfg., Inc., a consolidated subsidiary of the Company, through a debt-equity swap in which theCompany converted the subsidiary’s debt into a contribution in kind in exchange for equity.
(1) Summary of transaction
1) Name and business description of the combined company
Name of company:
Description of business:

F&P America Mfg., Inc.
Manufacturing and sale of auto parts and dies, equipment, tools, etc.
for these parts

2) Date of business combination
December 21, 2023
3) Legal form of business combination
Acquisition of shares through a debt-equity swap4) Name of company after business combination
No change5) Other matters relating to summary of transaction
The Company performed a debt-equity swap for the capital increase of F&P America Mfg., Inc. tostabilize its financial position.
(2) Summary of accounting treatment
The transaction was accounted for as a transaction with non-controlling shareholders, which is atransaction under common control in accordance with the “Accounting Standard for Business
Combinations” and the “Implementation Guidance on Accounting Standard for Business
Combinations and Accounting Standard for Business Divestitures.”(3) Matters concerning the additional acquisition of shares in a subsidiary
Acquisition cost of the acquired company and breakdown by type of
consideration
Aggregate face value of debt converted into 46 million U.S. dollars
Consideration for acquisition(6,601 million yen)contribution in kind
46 million U.S. dollars
Acquisition cost
(6,601 million yen)

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

Fiscal year ended
March 31, 2024

2,691.60

3,006.59

93.30

90.62

(Notes) 1. Diluted basic earnings per share is not presented since no potential shares exist.
2. Since the second quarter of the fiscal year ended March 31, 2021, the Company has acquired the Company’s sharesthrough the “Officers’ Stock Benefit Trust.” The Company’s shares held by the Officers’ Stock Benefit Trust areincluded in the number of treasury shares deducted in the calculation of the average number of shares during theperiod, to calculate basic earnings per share.
3. Basis for calculating basic earnings per share and diluted earnings per share is as follows:
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Basic earnings per share
Profit attributable to owners of parent (Millions of yen)

1,734

1,683

–

–

Profit attributable to owners of parent related tocommon shares (Millions of yen)

1,734

1,683

Average number of shares (Thousands of shares)

18,58918,575Adjustment on profit attributable to owners of parent(Millions of yen)––

Increase in number of common shares(Thousands of shares)––[Of the above, convertible bond-type bonds with
subscription rights to shares (Thousands of shares)]

[–]

[–]

Outline of potential shares that were not used in
calculating diluted earnings per share because they haveno dilutive effects––

Amounts not attributable to common shareholders(Millions of yen)

Diluted earnings per share

Significant events after reporting period
Not applicable.

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4. Other information(1) Changes in officers
1) Changes in representatives
Not applicable.
2) Changes in other officers
Not applicable.

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