Financial Results for the FY2024(April 1, 2023 to March 31, 2024)

May 10, 2024
IDEC CORPORATION
Securities code：6652
Copyright IDEC Corporation. All rights reserved.

1

Financial Results for the FY2024■Net Sales
Net
Sales

JPY72.7 billion（YoY -13.3％）– EMEA sales increased due to the impact of yen depreciation and strong sales ofcontrol switches.
– Japan decreased due to customers’ sluggish export demand and the impact of
inventories.
– Decreased in the Americas and Asia-Pacific due to economic slowdown anddistribution inventory adjustments.

■Operating Income JPY6.3 billion （YoY -55.4％）■Ordinary Income
Income■Net Income

JPY6.9 billion （YoY -51.9％）
JPY4.4 billion （YoY -56.6％）– Income decreased due to the impact of lower sales and lower capacity utilization.

Dividends■Annual dividends JYP130 (Dividends payout ratio 86.6%)

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2

Consolidated performance [Consolidated income statement] -1
FY2023(Unit: million yen)
*Round down to the millions

ActualFY2024

Sales Ratio

ActualYoY

Sales Ratio

Net sales

83,869100.0%

72,711100.0%-13.3%

Gross income

37,37644.6%

31,01942.7%-17.0%

SG&A

23,31527.8%

24,74334.0%＋ 6.1%

Operating income

14,060

16.8%

6,276

8.6%

-55.4%

Ordinary Income

14,403

17.2%

6,920

9.5%

-51.9%Net income attributable toowners of parent company

10,144

12.1%

4,407

6.1%

-56.6%

Earnings per share(EPS)(before diluting) (JPY)348.37ー

150.10－-198.27

USD-yen rate (JPY)135.51144.59+ 9.08EUR-yen rate (JPY)138.15156.74+18.59CNY-yen rate (JPY)

19.75

20.13

+ 0.38*From this 1Q, APEM Group changed its fiscal year end from December 31 to March 31 for the preparation of consolidated financial statements.
Copyright IDEC Corporation. All rights reserved.

3

Changing factors of consolidated operating income◼

Operating income declined approx. 7.8 billion yen YoY due to the significant impact oflower sale, decline in highly profitable domestic sales and safety-related products sales,
and worsening cost of sales ratio by lower capacity utilization and other factors.
(unit: million yen) *Round down to the million-6,840+1,95014,061Sales
decrease

FY2023Copyright IDEC Corporation. All rights reserved.

Pricerevision-3,550

Cost rateincrease

+320

＋340

SG&A

Impact ofexchange

6,276
FY20244

Consolidated performance [Consolidated income statement] -2◼

Due to the seasonable factor of the FY end and the impact of exchange rate,
both sales and income of 4Q showed an improving tendency compared to 3Q.

FY2023(Unit: million yen)
※Round down to the millions

4Q (Jan. to Mar.)
ActualSales ratio

FY2024
1Q (Apr. to Jun.)

2Q (Jul. to Sep.)

ActualActualSales ratio

Sales
ratio

3Q (Oct. to Dec.)
ActualSales ratio

4Q (Jan. to Mar.)
ActualSales ratio

YoY

Net sales

19,761100.0%

18,180 100.0%

19,620 100.0%

16,540 100.0% 18,370 100.0%

Gross income

8,620

43.6%

7,900

43.5%

8,553 43.6%

6,848

41.4%

7,716

42.0% -10.5%

SG&A

5,990

30.3%

6,235

34.3%

6,172 31.5%

6,244

37.8%

6,090

33.2% ＋1.7%

Operating income

2,629

13.3%

1,665

9.2%

2,381 12.1%

603

3.6%

1,625

8.9% -38.2%

Ordinary income

2,738

13.9%

2,022

11.1%

2,507 12.8%

532

3.2%

1,858

10.1% -32.1%

2,145

10.9%

1,467

8.1%

1,706

8.7%

263

1.6%

969

5.3% -54.8%

73.31

－

50.16

－

58.14

－

8.86

－

32.94

Net income attributableto owners of parent
company
Earnings per share(EPS)(before diluting) (JPY)

Copyright IDEC Corporation. All rights reserved.

ー

-7.0%

-40.37
5

Sales by regions(Unit: million yen)
*Round down to themillions

FY2023

FY2024YoY

Japan(Sales ratio)

Japan

34,519(41.2%)

26,907(37.0%)-22.1%

Overseas49,349(58.8%)

45,804(63.0%)-7.2%

Americas15,672(18.7%)

14,158(19.5%)

-9.7%

EMEA
(Europe, Middle East,
Africa)13,466(16.0%)

15,589＋15.8%(21.4%)

Asia Pacific

20,210(24.1%)

16,056(22.1%)

Total

83,869(100.0%)72,711(100.0%)

Copyright IDEC Corporation. All rights reserved.

◼

Sales decreased due to a standstill in majorindustries and the impact of an adjustment
phase in distribution inventories.

Overseas

YoY –7.2%◼

In the Americas, sales decreased due tosluggish demand and the impact of distribution
inventory adjustments.

◼

In EMEA, sales continued to grow due to theimpact of yen depreciation as well as strong
sales in the flagship HMI business.

◼

In Asia Pacific, sales decreased due to theimpact of economic slowdown in China andSoutheast Asia.

-20.6%-13.3%

YoY -22.1%

6

Sales by regions (per quarter transition)
Japan

Americas

EMEA

Asia PacificOverseas Ratio

30,00080.0%

25,00055.3% 54.0%

55.4%

20,000

57.5% 58.5%
52.8%

55.0% 54.5%

58.7%

61.2%

63.2%
58.8%

61.3%

63.8% 63.8%
60.0%

56.4%

8,944

10,000

5,000

8,630

8,319

15,0007,343 7,305 7,828
5,732 5,767

8,426

8,625 6,681 7,591

6,653

40.0%

5,981

4,273

6,126 7,012

2,715 3,009 2,686 3,121

3,457

4,283

3,624
3,667
3,657 3,707
3,159

3,615
3,314
2,289
2,322
3,183 3,353 3,776 3,913
1,971 1,925
2,975 2,996 2,772 3,002
3,757 4,142
2,257 1,846 2,348 2,417
6,189
4,829 4,125 4,015 4,492 3,641 3,907
4,234 4,274 4,112 3,983 5,065
2,876 3,010 2,953 3,125

0

20.0%

0.0%

1Q

2Q
3Q
FY2021

4Q

Copyright IDEC Corporation. All rights reserved.

1Q

2Q
3Q
FY2022

4Q

1Q

2Q
3Q
FY2023

4Q

1Q

2Q
3Q
FY2024

4Q
7

Sales by products(Unit: million yen)

HMI (Human-Machine Interface)

FY2023

FY2024

YoY

Industrial Switches

35,760(42.6%)

33,948(46.7%)-5.1%

Industrial Relays &Components

15,476(18.5%)

11,629(16.0%)-24.9%

Automation & Sensing

10,327(12.3%)

9,904(13.6%)-4.1%

Automation & Sensing

Safety & Explosion
Protection

16,282(19.4%)

11,647(16.0%)-28.5%

Sales decreased due to the impact of economic slowdown in
China and the slowdown of programmable logic controllers for
the Americas that moved steadily.

Systems

4,848(5.8%)

3,969(5.5%)-18.1%

Others

1,174(1.4%)

1,612(2.2%)+37.3%

83,869(100.0%)72,711(100.0%)-13.3%*Round down to the millions(Sales ratio)

Total

Copyright IDEC Corporation. All rights reserved.

Sales of flagship switches decreased due to distribution
inventory adjustments in Japan, the Americas and Asia-Pacific,
and lower demand in semiconductors and machine tools
industries.

Industrial Relays & Components
Sales of control relays decreased in main China.

Safety & Explosion Protection
Decrease in safety-related equipment due to economic
slowdown mainly in China and lower demand in semiconductor
and machine tool industries.

Systems
Decrease in control panels for semiconductor manufacturing
and logistic-related equipment in Asia Pacific.
8

Sales by products (per quarter transition)
25,00020,000HMI
Industrial Relays &Components

9,500
15,000

7,511
10,000

5,000

0

8,919

8,880

5,812

5,392

6,198

2,491

2,292

2,469

1,405

1,647

1,833

2,211
724
193
1Q

2,057 2,246
906
775
254
227
2Q
3Q
FY2021

7,655

7,625

8,092

8,669
7,844

4,519

3,264

3,459

3,338

3,563

3,684

4,002
3,097
2,158

2,079

2,137

2,190

2,147

1,990

2,572

3,051

3,185

3,113

3,355

3,841

1,111
215
4Q

901
403
1Q

890
853
283
240
2Q
3Q
FY2022

1,097
434
4Q

950
323
1Q

Copyright IDEC Corporation. All rights reserved.

8,839
8,594

6,315

2,550

8,459

2,320

3,270
2,948
2,749
2,341

4,326

4,321

1,213 1,413
365
268
2Q
3Q
FY2023

3,792
1,271
217
4Q

3,216
2,475
3,036

2,987

2,271

2,256

3,104

3,156

2,475

2,911

911
280
1Q

1,058 1,023
449
313
2Q
3Q
FY2024

976
570
4Q
9

Orders received
FY2023(Unit: million yen)
*Round down to the millions

Amount oforders received

FY2024

Backlog

Amount oforders received

YoY

Backlog

YoY

Japan

34,51013,51423,926-30.7%

6,135-54.6%

Americas15,763

4,972

11,866-24.7%

2,853-42.6%

EMEA

15,114

8,975

14,265

-5.6%

7,993

-10.9%

Asia Pacific

12,161

4,085

10,567-13.1%

2,988-26.8%

Total

77,55031,54760,625-21.8%

19,971-36.7%(Europe, Middle East, Africa)

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10Orders received (per quarter transition)◼ Due to the seasonal factor of the increasing tendency in orders received at the FY end, orders received of 4Q
increased compared to 3Q at each region.
◼ On the other hand, the impact of distribution inventory adjustment has continued in Japan, Americas, Asia-Pacific,
and the orders received environment is expected to remain tough in the first half of the FY2025.

FY2023(Unit: million yen)
*Round down to themillions

FY20244Q (Jan. to Mar.)

1Q (Apr. to Jun.)

Amount oforder
received

Backlog

Amount oforder
received

Backlog

2Q (Jul. to Sep.)
Amount oforder
received

3Q (Oct. to Dec.)

4Q (Jan. to Mar.)

Backlog

Amount oforder
received

Backlog

Amount oforder
received

Backlog

Japan

6,193

13,5146,550 12,329

5,757

9,140

4,986

7,012

6,631

6,135

Americas

2,668

4,972

2,681

3,863

3,067

3,233

2,555

2,771

3,560

2,853

3,683

8,975

4,164

9,947

3,237

9,340

3,245

8,641

3,617

7,993

Asia Pacific

2,924

4,085

2,257

3,392

2,745

3,005

2,516

3,058

3,046

2,988

Total

15,47031,547 15,655 29,532

14,80824,72013,305

21,485 16,856 19,971

EMEA(Europe, Middle East,
Africa)Copyright IDEC Corporation. All rights reserved.

11

Consolidated performance [Consolidated balance sheet]
Highlights of assets

Highlights of liabilities

Highlights of net assets◼ Total assets increased by approx. 2.9billion yen from the end of the previous
period, mainly due to increases in fixed
assets and inventory assets, despite adecrease in cash and deposits.

◼ Liabilities decreased by approx. 4.29 billion
yen from the end of the previous fiscal year
due to decreases in borrowings such as
trade payables and accrued corporate tax.

◼Net assets increased by approx. 7.19
billion yen from the end of the previous
fiscal year, mainly due to an increaseinforeigncurrencytranslation
adjustments and earned surplus.

(Unit: million yen)
*Round down to the millions

FY2023

FY2024

YoY

Current assets

54,51854,921+403

Fixed assets

49,71752,217+2,499Current liabilities

32,05923,830-8,228Fixed liabilities

13,362

17,301+3,938

Net assets

58,81366,006+7,193

Total assets

104,235

107,138+2,903Equity ratio

56.1%

61.2%

+5.1%

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12

Consolidated performance [Inventory]◼

Although the trend continued to increase due to the effect of exchange rates,
it has been gradually decreasing since peaking in the 2Q.
Inventory Trends(Unit: million yen)

30,000
Merchandise and finished goods

Work in process

25,00020,00015,00017,572
6,338

Raw materials and supplies

22,56822,712

22,545

7,168

7,027

6,697

2,661

2,501

2,311

1,919

11,777

12,73813,182

13,536

13,000

4Q

1Q

2Q

3Q

4Q

20,721

20,655

6,685

6,555

2,634

2,323

11,401

3Q

21,47919,041
6,824

6,559

2,569

10,000

2,380

5,000

8,853

9,648

1Q

2Q

0

FY2023Copyright IDEC Corporation. All rights reserved.

FY202413

Consolidated performance [Consolidated cash flow statement]
Cash Flows by operation activities

Cash Flows by investing activities◼ It was 5.5 billion yen due to the payment ofcorporate taxes, etc., a decrease in trade
payables, and increases in depreciation.

◼ While there was income from refund of time
deposits, etc., acquisition of fixed assets andother expenditures amounted to approx. -1.92
billion yen.

(Unit: million yen)
*Round down to the millions

FY2023

Cash Flows by financing activities◼ It was approx. -4.46 billion yen due
to the payment of dividends andthe repayment of leaseobligations.

FY2024

YoY

CF from operating activities

7,009

5,504

-1,505

CF from investing activities-3,110-1,922+1,187

Free cash flows (FCF)

3,899

3,581

-317

CF from financing activities-4,403-4,462-59

Cash and cash equivalents at end of year

15,07015,040-29

Capital expenditure

4,088

2,960

-1,128Depreciation and amortization expense

3,544

3,917

+373

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14

Revision of Medium-Term Management Plan
Forecast for the FY2025 and Future Initiatives

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15

Revision of Medium-Term Management Plan
◼ Revising the medium-term management plan from the FY2023 to the FY2025◼ Focusing on establishing foundations to become a highly profitable company

Current
Situation• Due to disruptions in the global supply chain, distribution inventories,
which were previously over-ordered from the market, remain at highlevels.
• The FA market has not yet entered into a full recovery phase, and thestate of the global economy is uncertain, with capital investment
demand still not fully restored.

FutureInitiatives• Initiating efforts on a global scale towards transforming into a corporate
structure capable of ensuring high profitability regardless of external
influences.
• Planning to disclose more detailed initiatives within this fiscal year toestablish foundations and aim for further growth.

Copyright IDEC Corporation. All rights reserved.

16

Forecast for the FY2025
FY2024(Unit: million yen)
*Round down to the millions

FY2025Net sales

72,711100.0%

71,700100.0%

YoY-1.4%

Gross income

31,01942.7%

31,200

43.5%

+0.6%

SG&A

24,74334.0%

26,000

36.3%

+5.1%

Operating income

6,276

8.6%

5,200

7.3%

-17.1%

Ordinary Income

6,920

9.5%

5,200

7.3%

-24.9%Net income attributable toowners of parent company

4,407

6.1%

4,000

5.6%

-9.2%

Earnings per share(EPS)(before diluting) (JPY)150.10－136.23ー-13.87

ActualSales Ratio

ActualSales Ratio

USD-yen rate (JPY)144.59148.00＋3.41

EUR-yen rate (JPY)156.74160.00+3.26

CNY-yen rate (JPY)

20.13

20.50

＋0.37

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17

Forecast for the FY2025(Unit: million yen)
*Round down to the millions

FY2024

ActualFY2025

Forecast

YoY

HMI

33,94834,700+2.2%

Industrial Relays & Components

11,62911,000-5.4%

Automation & Sensing

9,904

9,900

-0.0%

Safety & Explosion Protection

11,647

11,300-3.0%

Systems

3,969

3,200

-19.4%

Others

1,612

1,600

-0.8%

72,711

71,700-1.4%

Domestic sales

26,90725,200-6.3%

Overseas sales

45,80446,500+1.5%（63.0%）（64.9%）

-1.4%

Total

(Ratio of overseas sales)

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18

Expected dividends◼ FY2024： Annual dividends 130 yen (Dividends payout ratio 86.6%)◼ FY2025： Expected annual dividends 130 yen (Expected dividends payout ratio 95.4%)

130

130

130

65

65

65

Year-end
dividends

65

65

65

Interimdividends

FY2023
2023年3月期

2024年3月期
FY20242025年3月期
FY2025(Forecast)
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19

Long-Term Vision
Basic strategies forachieving a highprofitability structure

Visionfor 2050

Promote growth strategy
Improve profitability
Enhance businessfoundation

Visionfor 2030

Enhance ESG initiatives

Current

Copyright IDEC Corporation. All rights reserved.

◼

◼ Pioneer the new norm for a safer andsustainable world.
IDEC will drive the future of manufacturing by creating new possibilities andestablishing new standards that will become the “new norm” of tomorrow’s
world. Through our efforts, we envision a safer and more sustainable world,bringing happiness and ANSHIN for all.

By providing products and services that integrate safety and HMI, IDEC will lead
HMI-X (Human-Machine Interface Transformation) and contribute to therealization of well-being for our diverse stakeholders.

20Future Initiatives
Basic Strategy

Future Initiatives•

Promote growthstrategy

Developing a solution business to solve technical issues andrealize HMI-X with a focus on HMI, safety, and ANSHIN.
Accelerating product development and sales based on regional
and industry needs.
Expanding business in focused areas.
Establishing strategic partnerships including M&A andcollaborations.

•
•
•
•

Improve
profitability•••

Enhance businessfoundation

Enhance ESG
initiatives

•
•
•
•

Enhancing competitiveness through production, procurement,
and supply chain reform.
Utilizing outsourcing and EMS, and reorganizing global bases.
Reviewing business operations of low-profit or unprofitableproducts, and promoting business consolidation.
Reducing costs through VA/VE promotion and automation.

Review ofbusiness
structure

Increaseproduct
profitability

Cost
reduction

Strengthening business structure through PMI and thepromotion of various projects.
Improving operational efficiency through DX promotion.
Environment: Promoting reduction of environmental impact.
Social: Expanding initiatives related to human capital andpromoting decent work.

Improveworking
capital*ANSHIN denotes a sense of trust and assurance without any fear or stress.
Copyright IDEC Corporation. All rights reserved.

21

Strengthen solution business by promoting HMI-X◼ HMI-X is defined as a change in the optimal interface
accompanying changes in the relationship between people
and machines◼ We will take the lead on HMI-X by providing society
with products and services that combine the HMI andsafety that we have cultivated over the years, contributing
to the realization of well-being for a diverse range ofstakeholders

Control in a environment where
people and machines are isolated
Copyright IDEC Corporation. All rights reserved.

Control in an environment where
human and machine collaborate
22

Products leading HMI-X◼

◼

Sensor

RFID readers that enable restrictions on theuse of machines, on entry into control rooms
and fences, on managing the operation
history of devices, etc.

◼

Emergency-stopassist systems◼

◼

Controller with
operator interface

Touchless switches tomeet contactless needs◼

◼

ez-Wheel safety wheel drive
installed on AGVs, AMRs, etc.
◼

◼

Copyright IDEC Corporation. All rights reserved.

ANSHIN sensor

Compact IoT
devices for realizinga remote monitoring

Safety commanders that allow
emergency-stop switches andenabling switches to easily beattached to commercial tablets

23

Main Initiatives
Review ofbusiness
structure

Increaseproduct
profitability

Cost
reduction

Improveworking
capitalBusiness structure
Product
profitability

Main initiatives

Details of the initiative

Expanding the solution
business⚫ Developing diverse solutions to address customers’ challenges by
expanding new HMI, safety and ANSHIN products that promotecollaborative safety (Safety 2.0), in which humans and machines work
together to achieve both safety and productivity.

Business restructuring⚫ Promoting the reorganization of businesses with low synergy with main
businesses or low profitability.

Launch of high-profitability
products⚫ Improving the proportion of new products through the introduction ofhigh-profitability new products such as HMI, safety, and ANSHIN
products.

Discontinuation andintegration of unprofitableproducts⚫ Revising the product portfolio from the perspectives of growth andprofit margin, and promoting global initiatives for product reduction.

Copyright IDEC Corporation. All rights reserved.

24

Main Initiatives
Main initiatives

Details of the initiative

Cost reduction
Working
capitalPromoting cost reduction
themes such as VA/VE,
Global purchasing⚫ Advancing cost reduction through product design changes and the introduction of
automated equipment.
⚫ Reducing production costs through parts’ standardization.
⚫ Assigning dedicated personnel for each major component such as resin, metal,
and electronic parts, to formulate procurement strategies and purchase materials
on a global basis, thereby promoting efficiency and cost reduction.

Reorganization of bases andutilization of outsourcing⚫ Sharing resources and improving operational efficiency through consolidation ofbases.
⚫ Reducing production costs through the utilization of EMS and outsourcing.

Optimizing SG&A

⚫ Reviewing personnel allocation through reorganization of bases.
⚫ Reducing indirect costs through business reforms such as DX.
⚫ Enhancing visibility of personnel and strengthening organizational capabilities
through global talent management.

Optimizing inventory⚫ Implementing global data linkage and centralized management through theintroduction of a supply chain management system to achieve supply planning that
adapts to changes in supply and demand.

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25

Future Initiatives

FutureInitiatives• Initiating efforts on a global scale towards transforming into a corporate
structure capable of ensuring high profitability regardless of external
influences.
• Planning to disclose more detailed initiatives within this fiscal year toestablish foundations and aim for further growth.

◼ Continue to promote ESG initiatives to strengthen foundation.
◼ IDEC has been selected for ESG-related indexes for our ongoing efforts.

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26

Initiatives of ESG
Realization of the carbon neutrality
Medium-term targets by the end of FY2025◼ As a target of reduction in CO2 emissions for achieving the carbon
neutrality in 2050, the target of reduction by 24% in FY2025 and by
50% in FY2031 was set, respectively.

◼ The Environmental policy was revised in 2024 that reflects newsocial issues such as responses to climate change.

• Renewable energy utilization ratio 18% or more
• Reduction in CO2 emissions 24% (vs. FY2020)• Reduction in industrial wastes 24% (vs. FY2020)• Cumulative ratio of enhanced eco-friendly
products to total new products 60% or more(cumulative total since FY2020)◼ ICP (internal carbon pricing) was introduced in 2022. The price of2023 is set as JPY8,000/t-CO2, and we utilize for decision making ofenvironmental investment.

◼ As an initiative for plastic wastes reduction and effective resources
usage, the regrinding that reuses plastic materials end bycrushing and granulating, has started in two factories in Japanfollowing overseas sites.
◼ The environmental management will be promoted throughout design,development and manufacture of products, logistics, and package,placing eco-friendly product development emphasizing reduction
in environmental impact and environmental issues at the core.
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The example of enhanced eco-friendly products
Controller with operator interface “FT2J” type27

ESG Initiatives
Enhancement of business foundation by creating a pleasant workplace
where diversity is respected
Issues identifies through engagement surveys and initiative plans◼ The “Human Right Subcommittee” was established in the
Risk Management Committee under the Sustainability
Committee in 2024 for conducting business activities inconsideration of human right.
◼ Human right due diligence is scheduled for promotion from here.
◼ In order for the IDEC Group to contribute to the sustainable
development of society, the “IDEC Human Rights Statement”
was established in 2023 and the IDEC Human Rights Policy
was revised.
◼ Based on the results of the engagement surveys, we have been
taking steps to make improvement of three major issues thatscored lower.
◼ Introduction of a human resource development policy, a new
personnel system based on the engagement surveys, conduct ofmultifaceted evaluation system, and promotion of fulfilling training
programs for strengthening human resources.
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IssuesMajor action plans implemented since FY2024◼

HR development
Strengthening ofmanagement abilities◼
◼
◼

Improving personnel training including managerial training,career design training, etc.
Implementing a career design program
Preparing to introduce a global talent management system
Expanding the operation of multi-faceted evaluations◼
Improvement of the◼
acceptability of humanresource systems

Strengthening feedback provided on personnel evaluations
Conducting training for evaluators◼

Further enhancing information messaging aimed atachieving “One IDEC”
Disseminating and instilling the Medium-term Management
Plan and corporate policies, etc.

Encouragementof communication◼

◼
Promoting work style◼
reform and improving
the welfare system◼

Phased reinstatement of welfare services
Introducing flexible workstyles(discretionary work and flex-time)
Promoting working from home

Improving
workplace culture◼

Implementing action plans to resolve workplace issues ineach department

Promoting diversity
and inclusion◼

Implementing policies to support families raising children

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ESG Initiatives◼ We drive the implementation of work style reforms that enable flexible ways to work.
◼ As part of efforts to develop an environment and culture in which a diverse range of human resources can take on challenges,
we have being pursuing initiatives enabling female employees to find success.
In FY2024, the percentage of managerial positions filled by women on a consolidated basis was 23.9%.
Ratio of males taking childcare leave

2023年3月期

2024年3月期

IDEC unconsolidated
2025年3月期

Number of female managers
2023年3月期

2024年3月期（6.9％）（7.6％）IDEC unconsolidated
2025年3月期*Including assistant managers with subordinates

Next-generation management candidate development program◼ We have strengthened investments in humanresources that are essential to support
sustainable growth.
◼ we have also introduced selective training
programs for the early development of
next-generation management candidates
who will drive the future of the IDEC Group.

Copyright IDEC Corporation. All rights reserved.

29

ESG Initiatives
Reflection of an executive compensation scheme to the non-financial indicators◼ Re-examination of the executive compensation scheme in 2023.
◼ The ratios of basic remuneration as fixed amount, performance-based remuneration (bonuses), and non-monetary(sharebased) remuneration are as follows:
basic compensation : bonus : non-monetary remuneration ＝ 60：25：15◼ The KPIs used for calculating PSUs reflect the degree of attainment of targets of not only financial indicators, but also
non-financial indicators.

Medium-term KPIs and weighting reflected in evaluation*PSU: performance share units, RS: restricted stock

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30

References

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31

FY2024 exchange rate and exchange rate sensitivity

Currency

Exchange
assumption

Effect by 1 yen change of exchange rate
*For CNY, effect by 0.1 yen change
Net sales

Operating income

USD

JPY144.59

Approx. 60 mil. yen

Approx. 10 mil. yen

EUR

JPY156.74

Approx. 140 mil. yen

Approx. 15 mil. yen

CNY

JPY20.13

Approx. 40 mil. yen

Approx. 15 mil. yen

Copyright IDEC Corporation. All rights reserved.

32

Industry Trend (Transition of shipment data of NECA*)*Nippon Electric Control Equipment Industries Association

Transition of the industrial shipment and YoY status (between Jan. 2021 to March 2024)（Unit: million yen)

80,000
Shipment Data

75,170

YoY

71,05570,00061,88963,58961,62068,632200%

77,69072,964
68,12362,15860,57960,000150%
126%54,652122%

123%

50,000

113%

108%

115%

117%
108%

49,628109%
99%

40,000

100%
81%

75%

30,00064%

20,00050%

10,000
0

0%
21/1

21/4

21/7

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21/10

22/1

22/4

22/7

22/10

23/1

23/4

23/7

23/10

24/1
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Sales classification by segment
Industrial
Switches・Industrial switches
・Joysticks
・Pilot lights
・Operator interfaces

Industrial Relays &Components

Automation &Sensing・Switching power supplies
・Terminal blocks
・Industrial relays/sockets
・Circuit protectors
・LED illumination units

・Programmable logic
controllers
・Sensors
・Automatic identification
devices

Safety & Explosion
Protection
・Safety-related products
・Explosion protection
products

Systems
・Collaborative robot systems
・Interface complex systems
・Security systems
・Other various systems

Others・Environmental energyrelated business

APEM products

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34

This material contains our plans and performance forecast, which we have planned and expected inaccordance with available information as of May 10, 2024.
Therefore, actual performances may vary from aforementioned plans and expected values due tounforeseeable events and factors.
The original language is Japanese in financial results materials. The English version is translated
into the original Japanese version. In the case of any discrepancy between the English translationand the Japanese original, the latter shall prevail.

IDEC CORPORATION
Strategic Planning Division
TEL ：+81-6-6398-2505
FAX ：+81-6-6398-2587
E-mail : yasuyuki.ogawa@idec.com

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35