Disclaimer: This document is an English translation of the original document in Japanese and has been
prepared solely for reference purposes. In the event of any discrepancy between this English
translation and the original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results
for the Three Months Ended June 30, 2024
[Japanese GAAP]
July 31, 2024
Company name: SMK Corporation
Stock exchange listing: Tokyo Stock Exchange Prime Market
Code number: 6798
URL: https://www.smk.co.jp
Representative: Yasumitsu Ikeda, President, Chief Executive Officer and Chief Operating Officer
Contact: Itaru Kitahira, Vice President, Chief Financial Officer
Phone: +81-3-3785-1111
Scheduled date of commencing dividend payments: –Availability of supplementary explanatory materials on financial results: Available
Schedule of financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2024 (April 1, 2024 - June 30, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Three months ended
Million yen%
Million yen%
Million yen%
Million yen%
June 30, 2024
11,726
6.2
(64)
–
952
37.1
801
54.0
June 30, 2023
11,038 (12.5)(385)–
694 (60.8)
520(65.9)(Note) Comprehensive income: Three months ended June 30, 2024: ¥1,324 million [14.4%]
Three months ended June 30, 2023: ¥1,157 million [(40.6)%]
DilutedBasic earnings
earnings
per shareper share
Three months ended
Yen
Yen
June 30, 2024
126.47–
June 30, 2023
79.55–
(2) Consolidated Financial Position
Total assets
Million yen

Net assets

Equity ratio

Million yen%

60,543As of June 30, 2024
33,14758,444As of March 31, 2024
32,143(Reference) Equity: As of June 30, 2024: ¥33,147 million
As of March 31, 2024: ¥32,143 million

54.8
55.0

2. Dividends
Annual dividends
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen

Yen

Yen

Year-end

Fiscal year ended
–
50.00
–
March 31, 2024
Fiscal year ending–
March 31, 2025
Fiscal year ending
March 31, 2025
50.00–
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

Total
Yen

Yen

50.00

100.0050.00

100.003. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 - March
31, 2025)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper share
parentMillion yen%

Million yen% Million yen% Million yen

First half
23,500
1.8
(500)
–
(300)
–
Full year
50,0007.5(200)–
200 (11.6)(Note) Revision to the financial results forecast announced most recently: None

(400)
0

%

–
–

Yen

(63.09)0.00

* Notes:(1) Significant changes in the scope of consolidation during the period: None
(2) Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None
(4) Total number of issued and outstanding shares (common stock)1) Total number of issued and outstanding shares at the end of the period (including treasury stock):
June 30, 2024:
7,200,000 shares
March 31, 2024:
7,200,000 shares2) Total number of treasury stock at the end of the period:
June 30, 2024:
861,575 shares
March 31, 2024:
860,296 shares
3) Average number of shares during the period:
Three months ended June 30, 2024:
Three months ended June 30, 2023:

6,338,953 shares
6,542,637 shares(Note) The number of treasury stock includes the Company’s shares held by Custody Bank of Japan, Ltd. (Trust
Account E) as trust assets for the Board Benefit Trust (BBT).
* Review of the Japanese-language originals of the attached quarterly consolidated financial statements by certified
public accountants or an audit firm: None
* Explanation of the proper use of financial results forecast and other notes
The earnings forecasts and other forward-looking statements herein are based on information currently available to
the Company and certain assumptions deemed reasonable, and actual results may differ significantly from these
forecasts due to various factors. For preconditions for the financial results forecast, notes on the use thereof, etc., pleaserefer to “1. Qualitative Information on Quarterly Financial Results (3) Explanation of Consolidated Financial Results
Forecast and Other Forward-looking Information” on page 3 of the attachment.

Table of Contents - Attachments
1. Qualitative Information on Quarterly Financial Results .........................................................................2(1) Explanation of Operating Results .......................................................................................................2(2) Explanation of Financial Position .......................................................................................................3(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information .....3
2. Quarterly Consolidated Financial Statements and Principal Notes .........................................................4(1) Quarterly Consolidated Balance Sheets .............................................................................................. 4(2) Quarterly Consolidated Statements of Income and Comprehensive Income ......................................6(3) Notes to Quarterly Consolidated Financial Statements .......................................................................8(Notes on going concern assumption) ............................................................................................8(Notes in case of significant changes in shareholders’ equity) .......................................................8(Segment information, etc.) ............................................................................................................8(Notes on quarterly consolidated statements of cash flows) .......................................................... 9
3. Supplementary Information ................................................................................................................... 10
Status of Orders Received and Sales (by Market) .............................................................................10

1

1. Qualitative Information on Quarterly Financial Results(1) Explanation of Operating Results
The Group established the Long-Term Vision FY2035 “Contribute to the next 100 years with ourmanufacturing capability that meets all manner of needs,” and started working on the Medium-Term Business
Plan “SMK Next 100” that covers the period from FY2024 to FY2026 as the first milestone for achieving thevision. Based on the promotion of sustainable management, we have promoted to realize sustainable growth ofsales and profits, strengthen our operating base that supports business, and promote sophistication of capitaland financial strategies, aiming to maximize corporate value.
During the three months ended June 30, 2024, the global economy was relatively stable driven by firm
growth in the U.S. economy. However, the future business climate remains uncertain mainly due to the ChinaU.S. standoff, the continued geopolitical risks caused by the prolonged Ukraine crisis and increasing tensions
in the Middle East, as well as the prolonged sluggish real estate conditions and a downturn in consumer
sentiment in China. In addition, inflation in the U.S. remained high, and the yen depreciated further.
In the electronic components industry, market conditions remained sluggish, but signs of a moderate
recovery emerged in some markets. The car electronics market was on a recovery trend overall, but theinventory adjustments by some customers continued. In the ICT market, sales of smartphones, tablets, andother devices showed signs of having bottomed out following a round of inventory adjustments in the products,
despite the impact of the prolonged replacement cycle in the U.S. and Europe. In the home appliance market,
although inventory adjustments in housing facilities continued, inventory digestion in white goods progressedand orders received showed signs of a recovery. In the industry market, sales of FA and equipment-related
products remained sluggish, despite an increase in demand for some of semiconductor-related products andother products.
In the three months ended June 30, 2024, in CS Division, sales in the ICT, car electronics, and industry
markets remained strong, exceeding those of the same period of the previous fiscal year. In SCI Division, sales
in the home appliance market remained strong as planned, although sales in the car electronics market
decreased year on year. As a result, net sales amounted to ¥11,726 million (6.2% increase year on year), andoperating loss was ¥64 million (compared to operating loss of ¥385 million in the same period of the previous
fiscal year). Ordinary profit was ¥952 million (37.1% increase year on year) by recording foreign exchange
gains of ¥887 million due to the yen depreciation, and profit attributable to owners of parent was ¥801 million(54.0% increase year on year).
Results by segment are as follows.
[CS Division]
In the car electronics market, sales of connectors exceeded those of the same period of the previous fiscal
year due to the expansion in demand for EV battery-related products, in addition to steady sales of camerarelated products. In the ICT market, sales exceeded those of the same period of the previous fiscal year as salesof smartphone-related products were firm and tablet-related demand for U.S. customers recovered. In theindustry market, rechargeable batteries contributed to expanding sales. Meanwhile, in the home appliancemarket, although sales of amusement-related products declined year on year due to the impact of inventory
adjustments in the market, sales increased year on year in CS Division as a whole.
As a result, net sales of CS Division amounted to ¥5,717 million (21.1% increase year on year), andoperating profit was ¥569 million (1,147.8% increase year on year).
[SCI Division]
In the home appliance market, in the mainstay remote control business, sales of units for sanitation andsmart home appliances expanded, exceeding those of the same period of the previous fiscal year, although salesof units for home equipment decreased due to the continued inventory adjustments. Meanwhile, in the car
electronics market, sales of control units declined year on year due to the continued inventory adjustments bymajor customers. In SCI Divion as a whole, the progress was in line with the initial plan, but sales decreased2year on year.
As a result, net sales of SCI Division amounted to ¥5,944 million (4.4% decrease year on year), andoperating loss was ¥528 million (compared to operating loss of ¥377 million in the same period of the previous
fiscal year).
[Innovation Center]
Regarding Bluetooth® modules, the central product of Innovation Center’s mainstay wirelesscommunication module businesses, sales for mobile printers, medical devices, and payment terminals
decreased year on year. Meanwhile, sales of Sub-GHz communication systems for lighting equipment
expanded, but sales of Innovation Center as a whole decreased year on year.
As a result, net sales of Innovation Center amounted to ¥64 million (36.0% decrease year on year), andoperating loss was ¥104 million (compared to operating loss of ¥53 million in the same period of the previous
fiscal year).

(2) Explanation of Financial Position
Current assets increased 4.8% from the end of the previous fiscal year to ¥35,446 million. This was
mainly due to increases of ¥748 million in cash and deposits, and ¥444 million in raw materials and supplies.
Non-current assets increased 1.9% from the end of the previous fiscal year to ¥25,096 million. This was mainly
due to an increase of ¥418 million in investments and other assets.
As a result, total assets increased 3.6% from the end of the previous fiscal year to ¥60,543 million.
Current liabilities increased 8.2% from the end of the previous fiscal year to ¥16,633 million. This was
mainly due to increases of ¥629 million in notes and accounts payable - trade, and ¥900 million in short-termborrowings. Non-current liabilities decreased 1.5% from the end of the previous fiscal year to ¥10,761 million.
This was mainly due to a decrease of ¥239 million in long-term borrowings.
As a result, total liabilities increased 4.2% from the end of the previous fiscal year to ¥27,395 million.
Total net assets increased 3.1% from the end of the previous fiscal year to ¥33,147 million. This was
mainly due to increases of ¥482 million in retained earnings, ¥259 million in valuation difference on availablefor-sale securities, and ¥310 million in foreign currency translation adjustment.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
No change has been made to the consolidated financial results forecasts for the six months ending
September 30, 2024 and the fiscal year ending March 31, 2025, announced on May 9, 2024.

3

2. Quarterly Consolidated Financial Statements and Principal Notes(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims - operating
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
Land
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

As of June 30, 2024

10,25850
3,132
10,039
3,424
592
5,240
1,150
(64)
33,824

11,00745
2,822
10,446
3,409
707
5,685
1,391
(68)
35,446

4,245
5,819
5,263
15,328

4,197
5,819
5,365
15,383

130
130

134
134

9,255
(94)
9,160
24,61958,444

9,676
(97)
9,578
25,09660,543

(Million yen)
As of March 31, 2024
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Accounts payable - other
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Valuation reserve for inventory purchasecommitments
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Provision for share awards for directors (and otherofficers)
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
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

5

As of June 30, 2024

2,643
2,058
5,840
1,801
270
572

3,273
1,541
6,740
2,077
159
375

1

–

107

73

2,075
15,371

2,392
16,633

7,022

6,783

132

135

37

40

27

31

3,708
10,92926,3003,772
10,761
27,395

7,996
12,057
13,253(3,030)30,276

7,996
12,057
13,736(3,031)30,758

1,159
(70)
(497)
1,274
1,866
32,14358,444

1,419
(40)
(186)
1,196
2,389
33,14760,543

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
Three Months Ended June 30(Million yen)
For the three months ended
June 30, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Rental income from real estate
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rental costs on real estate
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

6

For the three months ended
June 30, 2024

11,038
9,273
1,764
2,150
(385)

11,726
9,477
2,248
2,312
(64)

13
31
245
875
121
1,288

25
24
254
887
22
1,214

31
137
40
208
694

49
137
11
198
952

0
0

5
5

11
–
11
683
133
29
163
520
520

3
2
5
951
75
74
150
801
801

Quarterly Consolidated Statements of Comprehensive Income
Three Months Ended June 30(Million yen)
For the three months ended
June 30, 2023

For the three months ended
June 30, 2024

520

801

262
–
392
(17)
637
1,157

259
29
310
(77)
523
1,324

1,157

1,324

ProfitOther 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
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

7

(3) Notes to Quarterly Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Notes in case of significant changes in shareholders’ equity)
Not applicable.
(Segment information, etc.)(Segment information)
1. Information on net sales and profit (loss) by reportable segment
For the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)(Million yen)
Reportable segment
SCI (Sensing,
CS (Connection Communications
Innovation
System) Division and Interface)CenterDivision
Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers
Total
Segment profit (loss)(operating loss)

Total

Amount recordedin Quarterly
Consolidated
Statements ofIncome

4,720

6,217

100

11,038

11,038

–

–

–

–

–

4,720

6,217

100

11,038

11,038

45

(377)

(53)

(385)

(385)

For the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(Million yen)
Reportable segment
SCI (Sensing,
CS (Connection Communications
Innovation
System) Division and Interface)CenterDivision
Net sales
Net sales to outside
customers
Inter-segment net
sales or transfers
Total
Segment profit (loss)(operating loss)

Total

Amount recordedin Quarterly
Consolidated
Statements ofIncome

5,717

5,944

64

11,726

11,726

–

–

–

–

–

5,717

5,944

64

11,726

11,726

569

(528)

(104)

(64)

(64)

2. Information on changes in reportable segments
In accordance with the reorganization as of April 1, 2024, the Company integrated Sales Division (Head
Quarter) into Product Divisions and Research & Development Center, as well as integrated New Business Creation
Unit in Marketing Department into Research & Development Center, reorganizing Innovation Center. Accordingly,
from the three months ended June 30, 2024, the name of the reportable segment previously indicated as “Research& Development Center” has been changed to “Innovation Center,” and other parts business included in “Others” is
now included in “SCI Division” and “Innovation Center.” The segment information for the three months ended
June 30, 2023 has also been prepared based on the name and classification of the reportable segment after the8change.
Regarding the integration of Product Divisions, Research & Development Center, and Sales Division (Head
Quarter), it is practically difficult to prepare the segment information for the three months ended June 30, 2023
under the same conditions as that for the period under review, and therefore reclassified information is notdisclosed.
(Notes on quarterly consolidated statements of cash flows)
Quarterly consolidated statements of cash flows are not prepared for the three months ended June 30, 2024.
Depreciation (including amortization of intangible assets) for the period under review is as follows.
(Million yen)

For the three months
ended June 30, 2023
644

Depreciation

9

For the three months
ended June 30, 2024
569

3. Supplementary Information
Status of Orders Received and Sales (by Market)
1) Orders received(Million yen)

MarketICTThree months ended
June 30, 2023
(From April 1, 2023
to June 30, 2023)
Contribution
Amount
(%)
1,640
15.5

Three months ended
June 30, 2024
(From April 1, 2024
to June 30, 2024)
Contribution
Amount
(%)
2,270
18.1

Change629

Change(%)
38.4

AmountHome appliance

4,088

38.7

5,203

41.5

1,114

27.3

Car electronics

3,820

36.2

3,663

29.2

(156)

(4.1)

Industry and other

1,016

9.6

1,411

11.2

395

38.9

Total

10,565100.0

12,548

100.0

1,982

18.8

MarketICTHome appliance(Reference) Fiscal year ended
March 31, 2024
(From April 1, 2023
to March 31, 2024)
Contribution
Amount
(%)
7,668
17.6
16,32637.4

Car electronics

15,825

36.3

Industry and other

3,833

8.8

Total

43,653100.02) Sales(Million yen)

MarketThree months ended
June 30, 2023
(From April 1, 2023
to June 30, 2023)
Contribution
Amount
(%)
1,626
14.7

Three months ended
June 30, 2024
(From April 1, 2024
to June 30, 2024)
Contribution
Amount
(%)
2,185
18.6

Change558

Change(%)
34.4

Home appliance

4,376

39.7

4,917

41.9

540

12.3

Car electronics

3,928

35.6

3,378

28.8

(550)

(14.0)

Industry and other

1,105

10.0

1,244

10.6

138

12.6

Total

11,038100.0

11,726

100.0

687

6.2

ICT

MarketICTHome appliance
Car electronics(Reference) Fiscal year ended
March 31, 2024
(From April 1, 2023
to March 31, 2024)
Contribution
Amount
(%)
7,908
17.0
17,50037.6
16,59935.7

Industry and other

4,513

9.7

Total

46,522100.0

10Amount