Summary of Financial Results (Japan GAAP)[Consolidated]
For the Third Quarter of Fiscal Year Ending March 31,2024
February 2,2024
Company name:
Stock exchange listing:Stock code:
Representative:

IDEC CORPORATIONURL http://jp.idec.com/
Tokyo Stock Exchange - Prime Market
6652
Toshiyuki Funaki, Chairman and Chief Executive Officer

Contact:
Yasuyuki Ogawa, General Manager of strategic Planning(Tel.+81-06-6398-2500)
Scheduled date for filing of securities report: February 9,2024
Scheduled date for dividend payment: Preparation of supplementary material on financial results: Yes
Holding of financial results briefing:1.

Yes (for analysts)(Amounts less than one million yen are omitted.)
Consolidated financial results for the nine months ended December 31, 2023
(From April 1 to December 31, 2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)
Net sales

Operating profit

Profit attributableto owners of parent

Ordinary profit

Nine months ended

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

December 31, 2023
December 31, 2022

54,34164,107(15.2)
22.7

4,650
11,431(59.3)
58.9

5,062
11,664(56.6)
55.7

3,437
7,999

(57.0)
50.8(Note) Comprehensive income:Nine months ended
December 31, 2023
December 31, 2022

Nine months ended December 31,2023
Nine months ended December 31,2022

Basic earnings
per shareYen
117.16275.01

7,262 million yen
10,890 million yen(33.3%)
65.0%

Diluted earnings
per shareYen
116.68273.62(2) Consolidated financial position
Total assets
Millions of yen
As ofDecember 31, 2023
107,380
March 31, 2023
104,235

Net assets
Millions of yen

62,71658,813(Reference) Shareholders' equity: As of December 31,2023
As of March 31,2023

Shareholder's equity ratio
%
58.0
56.1

62,297 million yen
58,465 million yen

2. Dividends
End offirst quarter
Yen
Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2024
Fiscal year ending
March 31, 2024(Forecast)

Dividends per share
End of
End of
End ofsecond quarter
third quarterfiscal year
Yen
Yen
Yen

-

65.00

-

-

65.00

-

(Note) Changes in the forecasted cash dividends in this quarter: None

Annual(Total)
Yen

65.00

130.0065.00

130.003. Forecast of consolidated results for the fiscal year ending March 31, 2024
(From April 1, 2023 to March 31, 2024)(Percentages indicate changes from the previous year.)
Profit attributable
Net income
Net sales
Operating profit
Ordinary profit
to owners of parent
per share
Millions ofyen%Millions ofyen%Millions ofyenFull year
75,000(10.6)
8,650(38.5)
9,150(Note)Revisions of the forecast most recently announced: None%

Millions of
yen

%

Yen

(36.5)

6,350(37.4)

216.62* Notes(1) Changes in significant subsidiaries during the period(Changes in specified subsidiaries resulting in the change in scope of consolidation): None
New: - company (company name) Excluded: - company (company name)(2) Applying of specific accounting of the consolidated quarterly financial statements: Yes(3) Changes in accounting policies, accounting estimates and retrospective restatements(a) Changes in accounting policies based on revisions of accounting standards: None(b) Changes in accounting policies other than ones based on revisions of accounting standards: None(c) Changes in accounting estimates: None(d) Retrospective restatements: None
(4) Number of issued and outstanding shares (common shares)(a) Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

33,224,485 shares

As of March 31, 2023

33,224,485 shares(b) Number of treasury shares at the end of the period
As of December 31, 2023

3,813,610 shares

As of March 31, 2023

3,966,734 shares(c) Average number of shares during the period
Nine months ended December 31,
2023

29,343,277 shares

Nine months ended December 31,
2022

29,086,749 shares* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
The forecasts included in this documents are based on the information that the Company has obtained at
the time of disclosure.
Actual results may differ significantly from the forecast due to a various factors in the future.

List of Attachments
1. Qualitative Information on Quarterly Financial Results under Review ……………………………………

2………………………………………………………………………………

2(2)Explanation of financial position ………………………………………………………………………………

4(3)Explanation of future forecast information such as consolidated financial results forecasts …

4

2. Consolidated Quarterly Financial Statements ……………………………………………………………………

5(1)Consolidated Quarterly Balance Sheets …………………………………………………………………………
(2)Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements ofComprehensive Income ………………………………………………………………………………………………
(3)Notes on the Consolidated Quarterly Financial Statements…………………………………………………

5[Notes - Uncertainties of entity's ability to continue as going concern] …………………………

9[Notes - When there are significant changes in amounts of equity]……………………………………

9[Notes - Accounting treatments specific to quarterly financial statements] ………………………

9[Notes - Additional information] ………………………………………………………………………………

9[Notes - Segment information, etc.]……………………………………………………………………………

10

3. Supplementary Information ……………………………………………………………………………………………

11(1)Summary of consolidated performance ……………………………………………………………………………

11(2)Net sales by products ………………………………………………………………………………………………

11(3)Net sales by regions

12(1)Explanation of operating results………………………………………………………………………………………………

7
9(4)Orders received and orders backlog……………………………………………………………………………

13(5)Consolidated statement of cash flows…………………………………………………………………………

13(6)Capital expenditure …………………………………………………………………………………………………

13(7)Depreciation and amortization expense …………………………………………………………………………

13(8)R&D expense ……………………………………………………………………………………………………………

13

- 1 -

１. Qualitative Information on Quarterly Financial Results under Review(1) Explanation of operating results
During the third quarter under review, the Japanese economy gradually returned to a state of normalcy
as COVID-19 was downgraded to Category 5 under the infectious diseases control law and inbound tourism
recovered as border controls for people entering Japan were lifted. On the one hand, export growth has
been sluggish against the backdrop of weak global demand due to downward pressure on the economy causedby monetary tightening policies and other factors, and the Japanese economy is still showing signs of
weakness even as it continues to recover moderately. The global economy remained uncertain as a
slowdown in global demand resulting from the end of consumer spending on stay-at-home orders as well asmonetary tightening policies made the market environment more difficult in Europe and the U.S. Even in
China, which had been recovering rapidly following the lifting of the zero-COVID policy, market
conditions worsened.
The IDEC Group has worked to further strengthen the solutions it offers by utilizing new products,
etc. and implemented reforms aimed at optimizing production activities across the globe with an eye toachieving the targets set in its medium-term management plan, which was in its second year during the
fiscal year under review.
Working against this backdrop, the Group saw domestic net sales decrease by 5,640 million yen year on
year to hit 20,253 million yen (down 21.8% year on year), mainly due to sluggish export demand forcustomers. Overseas net sales declined 4,125 million yen year on year to reach 34,087 million yen (down
10.8% year on year) as a result of a decrease in sales. This drop occurred mainly in the Industrial
Relays & Components business and the Safety & Explosion Protection business due to the economic
slowdown, specifically in the Chinese market. Net sales in the European market, however, increased
thanks to the strong performance of the Group’s mainstay HMI products, including control switches, aswell as the yen’s depreciation. As a result, consolidated net sales for the third quarter under review
totaled 54,341 million yen (down 15.2% year on year).
In terms of profit, operating profit decreased 6,780 million yen year on year to total 4,650 million
yen (down 59.3% year on year) due to an increase in selling, general and administrative expenses
resulting from the weak yen as well as a decrease in profit resulting from a drop in revenue. Ordinary
profit fell 6,601 million yen year on year to 5,062 million yen (down 56.6% year on year), and profit
attributable to owners of the parent decreased 4,561 million yen year on year to hit 3,437 million yen(down 57.0% year on year), due to an increase in a loss on valuation of derivatives despite an increasein foreign exchange gains as a result of the yen’s depreciation.
The above results for the third quarter under review are as shown below.
Nine months ended
Nine months ended
December 31, 2022
December 31, 2023
Net sales
64,10754,341(Millions of yen)
Gross profit
28,75623,302(Millions of yen)
Gross income margin(%)

increase/decrease

Rate of
Change(9,766)(15.2%)(5,453)(19.0%)

44.9

42.9

(2.0)

-

11,431

4,650(6,780)(59.3%)

17.8

8.6

(9.3)

-

11,664

5,062(6,601)(56.6%)

7,999

3,437

(4,561)(57.0%)

Average exchange rate for USD

136.52143.33+6.81-

Average exchange rate for EUR

136.05155.31+19.26-

Average exchange rate for CNY

19.88

19.98

+0.10

-

Operating profit(Millions of yen)
Operating income margin(%)
Ordinary profit(Millions of yen)
Profit attributable to owners ofparent(Millions of yen)
(Exchange Rate)- 2 -Results by segment for the third quarter under review are as follows.
【Japan】
In Japan, net sales decreased 5,511 million yen year on year to hit 23,797 million yen (down 18.8%
year on year), and operating profit was down 3,887 million yen year on year to total 1,794 million yen(down 68.4% year on year). This was due in part to concerns about an economic downturn caused by priceincreases and the sluggish overseas economy, a sense of stagnation in key industries such as
semiconductors and robotics, and distributors’ inventory adjustments.
【Americas】
In North America, due to the sluggish demand that has continued from the beginning of the year,
distributors and customers have entered into the adjustment phase for inventory, and net sales decreased
1,691 million yen year on year to reach 10,390 million yen (down 14.0% year on year).

Operating profit

decreased 1,271 million yen year on year to 1,053 million yen (down 54.7% year on year).
【Europe, Middle East and Africa(EMEA)】
Net sales in the European market increased 1,543 million yen year on year to total 11,606 million yen(up 15.3% year on year) thanks to an increase in sales of our mainstay HMI products, such as control
switches, and an uptick in sales in yen terms due to the depreciation of the yen, despite the impact ofprice increases and geopolitical risks. Operating profit decreased 328 million yen year on year to 382
million yen (down 46.3% year on year).
【Asia Pacific】
In the Asia-Pacific region, net sales decreased 4,106 million yen year on year to total 8,546 million
yen (down 32.5% year on year), and operating profit dropped 1,543 million yen year on year to hit 1,342
million yen (down 53.5% year on year) due to the impact of the economic slowdown in China and Southeast
Asia.
Net sales by product category for the third quarter under review are as follows.
【HMI】
Net sales decreased 2,020 million yen year on year to reach 25,279 million yen (down 7.4% year on year)
as a result of distributors’ inventory adjustments as well as a decrease in demand for our mainstay
switches in key industries such as semiconductors and machine tools in Japan, the Americas, and the AsiaPacific region, although sales of programmable displays increased due to improved delivery times forelectronic components.
*This product category includes control switches, joysticks, indicator lights, and programmable displays,
which are key human-machine interfaces (HMIs).
【Industrial relays & components】
Net sales were down 3,564 million yen year on year to hit 8,641 million yen (down 29.2% year on year)
as a result of a decrease in sales of control relays in the Asia-Pacific region, our key market, due tothe economic slowdown particularly in the Chinese market.
*This product category includes switching power supplies, terminal blocks, control relays/sockets, andcircuit protectors, which are built into control panels for controlling and operating machines andproduction lines and are used as the basis for control parts of machines and equipment.

- 3 -【Automation & sensing】
Although there was an impact of the economic slowdown in the Chinese market, net sales increased 70
million yen year on year to reach 7,648 million yen (up 0.9% year on year) as a result of strong salesof programmable controllers, especially in Americas, due to improved delivery times for electronic
components.
*This product category includes products designed to contribute to the automation of equipment used in awide range of industrial and consumer applications, programmable controllers, which act as the brainsof machines and equipment, and automatic identification devices, which are used in retail, logistics,
and various other areas.
【Safety & explosion protection】
Net sales fell 3,753 million yen year on year to total 8,735 million yen (down 30.1% year on year) due
to a downturn in sales of safety components as demand decreased in major industries such as semiconductors
and machine tools caused by the economic slowdown, particularly in the Chinese market.
*This product category includes safety components, such as emergency stop pushbutton switches, safetyswitches, and enabling devices, which protect the safety of industrial sites, as well as explosionprotection devices that prevent accidents at sites where explosive gases exist, such as oil and chemicalplants.
【Systems】
Net sales dropped 583 million yen year on year to reach 2,993 million yen (down 16.3% year on year) due
to a decrease in sales of control panels for semiconductor manufacturing facilities, logistics facilities,
etc. in the Asia-Pacific region.
*This product category includes various systems custom-made with IDEC products according to customer needs
as well as collaborative robot system solutions that combine safety components and safety technologies
to create optimal systems.
【Others】
Net sales increased 85 million yen year on year to total 1,042 million yen (up 8.9% year on year) as aresult of a increase in demand for other system-related products in Japan.
*This product category includes mega-solar and photovoltaic power generation power management systems(renewable energy business), next-generation agricultural solutions, which are total solutions for
agricultural plants using solar power, and ultra fine bubble generators, which are being researched
for application in a wide range of fields.
(2) Explanation of financial position(Assets, liabilities, and net assets）
Total assets at the end of the third quarter under review came to 107,380 million yen, an increase of
3,144 million yen since the end of the previous fiscal year. This uptick was mainly due to an increaseof 1,889 million yen in inventories, and an increase of 2,015 million yen in intangible assets, despitea decrease of 817 million yen in cash and deposits.
Liabilities decreased 757 million yen from the end of the previous fiscal year to total 44,664 million
yen. This was mainly due to a decrease of 1,713 million yen in trade payables, and a decrease of 1,550
million yen in income taxes payable, despite an increase of 2,706 million yen in borrowings.
Net assets increased 3,902 million yen from the end of the previous fiscal year to reach 62,716
million yen mainly due to an increase of 3,873 million yen in foreign currency translation adjustments.
(3) Explanation of future forecast information such as consolidated financial results forecasts
There is no change to the consolidated earnings forecast for the fiscal year ending March 2024, which
was announced in the "Notice Concerning Revision of Financial Results Forecasts" dated November 2,
2023.

- 4 -

2. Consolidated Quarterly Financial Statements(1)Consolidated Quarterly Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade,and contract assets
Electronically recorded monetary claims operating
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
Tools, furniture and fixtures, net
Land
Leased assets, net
Right-of-use assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Trademark right
Customer-related intangible assets
Software
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 5 -As of December 31, 2023

18,40817,59012,987

12,158

1,022

1,242

11,777
2,323
6,555
1,466
(23)
54,51813,536
2,311
6,697
2,609
(40)
56,106

9,843
3,513
1,727
5,848
190
1,754
887
23,766

9,624
3,768
1,802
5,915
162
1,598
898
23,770

2,411
7,634
1,138
11,63663
22,885

2,486
7,826
1,419
12,0591,108
24,900

601
49
318
1,490
641
(36)
3,065
49,717104,235

432
6
317
1,230
650
(35)
2,602
51,273
107,380

(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations operating
Short-term borrowings
Current portion of long-term borrowings
Lease liabilities
Accounts payable - otherAccrued expenses
Income taxes payable
Contract liabilities
Deposits received
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Provision for retirement benefits for
directors (and other officers)
Retirement benefit liability
Asset retirement obligations
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-forsale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeShare acquisition rights
Total net assets
Total liabilities and net assets- 6 -As of December 31, 2023

4,916

4,252

1,948

899

5,000
11,935
497
1,040
2,969
1,911
686
156
37
959
32,0597,000
12,941
527
791
2,538
361
640
278
45
1,254
31,533

6,525
1,530
3,007

6,224
1,328
2,870

50

55

1,557
120
571
13,36245,422

1,496
114
1,040
13,13044,664

10,056
9,397
40,532(7,299)52,687

10,056
9,547
40,107(7,017)
52,694

24

(24)

5,787
(33)

9,660
(33)

5,778

9,603

347
58,813
104,235

418
62,716
107,380

(2)Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive Income(Consolidated Quarterly Statements of Income)(Millions of yen)
Nine months ended
December 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest and dividend income
Share of profit of entities accounted forusing equity method
Foreign exchange gains
Gain on valuation of derivatives
Other
Total non-operating income
Non-operating expenses
Interest expenses
Derivative losses
Loss on valuation of derivatives
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Gain on reversal of share acquisition rights
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on abandonment of non-current assets
Loss on restructuring of subsidiaries
Loss on liquidation of businessInformation security expenses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent- 7 -Nine months ended
December 31, 2023

64,10735,351
28,756
17,325
11,431

54,341
31,03823,302
18,652
4,650

78

114

86

89

271
52
146
634

567
267
1,039

92
93
214
400
11,664

94
160
209
162
626
5,062

13
30
43

20
62
4
87

4
43
126
173
11,534
3,612
(39)
3,572
7,962
(37)
7,999

3
15
44
62
125
5,024
1,443
143
1,586
3,437
3,437

(Consolidated Quarterly Statements of Comprehensive Income)(Millions of yen)
Nine months ended
December 31, 2022
ProfitOther comprehensive income
Valuation difference on available-for-salesecurities
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 ownersof parent
Comprehensive income attributable to noncontrolling interests- 8 -Nine months ended
December 31, 2023

7,962

3,437

23

(49)

2,908

3,873

(3)

(0)

2,928
10,890

3,824
7,262

10,927

7,262

(37)

-

(3) Notes on the Consolidated Quarterly Financial Statements[Notes - Uncertainties of entity's ability to continue as going concern]
No items to report[Notes - When there are significant changes in amounts of equity]
No items to report[Notes - Accounting treatments specific to quarterly financial statements](Calculation of Income tax expense)
Some consolidated subsidiaries, the effective tax rates (after applying tax effect accounting)expected to be imposed on their income before income taxes applicable to the tax year in which thisthird quarter is included were estimated based on reasonable assumptions. Tax expenses for this third
quarter were then calculated by multiplying the income before income taxes of respective subsidiaries
for the quarter by the estimated effective tax rates.
[Notes - Additional information](Change in items related to fiscal years of consolidated subsidiaries)
From the current first quarter consolidated accounting period, 13 APEM group companies have changed
their closing date from December 31st to March 31st when preparing consolidated financial statements.
Due to this change in the settlement date, the profit and loss for the three months from January 1,
2023 to March 31, 2023 are adjusted and consolidated as an decrease of 49 million yen in retained
earnings.

- 9 -[Notes - Segment information, etc.][Segment Information]
ⅠNine months ended December 31, 2022 (From April 1, 2022 to December 31, 2022)
1. Disclosure of sales and profit (loss) for each reportable segment(Millions of yen)
Reportable segments
Japan

Americas

Asia
Pacific

EMEA

Adjustments

Consolidated
total

Total

Net Sales
Revenue from Contracts
with Customers

29,30912,082

10,062

12,65264,107-

64,107

-

-

-

-

-

-

-

29,30912,082

10,062

12,65264,107-

64,107

8,966

473

1,793

8,083

19,316(19,316)-

Total

38,275

12,556

11,856

20,73583,424(19,316)

64,107

Segment profit

5,681

2,324

710

2,885

11,603(172)

11,431Other income
Revenues from externalcustomers
Transactions withother segments(Notes)1. Adjustments of segment profit (172) million yen represents intersegment transactions.
2．Segment profit has been adjusted to be consistent with the operating profit reported in
the consolidated statements of income.
3．These are mainly performance obligations that are satisfied at a point in time, but some
performance obligations are satisfied over a period of time.
The amounts recognized as performance obligations satisfied over time are insignificant.
Ⅱ Nine months ended December 31, 2023 (From April 1, 2023 to December 31, 2023)
1. Disclosure of sales and profit (loss) for each reportable segment(Millions of yen)
Reportable segments
Japan

Americas

Asia
Pacific

EMEA

Adjustments

Consolidated
total

Total

Net Sales
Revenue from Contracts
with Customers

23,797

10,39011,606

8,546

54,341-

54,341

-

-

-

-

-

-

-

23,797

10,39011,606

8,546

54,341-

54,341

5,959

653

1,928

6,559

15,101(15,101)-

Total

29,757

11,044

13,534

15,10669,442(15,101)

54,341

Segment profit

1,794

1,053

382

1,342

4,572

78

4,650

Other income
Revenues from externalcustomers
Transactions withother segments(Notes)1. Adjustments of segment profit 78 million yen represents intersegment transactions.
2．Segment profit has been adjusted to be consistent with the operating profit reported in
the consolidated statements of income.
3．These are mainly performance obligations that are satisfied at a point in time, but some
performance obligations are satisfied over a period of time.
The amounts recognized as performance obligations satisfied over time are insignificant.

- 10 -

3．Supplementary Information(1)Summary of consolidated performance①Nine months ended December 31, 2022 and December 31, 2023
Fiscal year ended
March 31, 2023
Third
quarter

YoY

Full year

YoY

Third
quarter(Millions of yen, %)Fiscal year ended
March 31, 2024
Full year
YoY
YoY(Forecast)

Net sales

64,107122.7

83,869118.5

54,341

84.8

75,00089.4

Operating profit

11,431

158.9

14,060

145.4

4,650

40.7

8,650

61.5

Ordinary profit

11,664155.7

14,403

138.5

5,062

43.4

9,150

63.5

Profit attributableto owners of parent

7,999

150.8

10,144

128.5

3,437

43.0

6,350

62.6

②Quarterly trendsFirst
quarter

Fiscal year ended
March 31, 2023
SecondThird
quarterquarter

FourthquarterFirst
quarter(Millions of yen)
Fiscal year ended
March 31, 2024
SecondThird
Fourthquarterquarterquarter

Net sales

20,15723,022

20,927

19,761

18,18019,620

16,540-Operating profit

3,153

4,406

3,871

2,629

1,665

2,381

603

-

Ordinary profit

3,562

4,577

3,523

2,738

2,022

2,507

532

-

2,555

3,138

2,305

2,145

1,467

1,706

263

-

Profit attributable toowners of parent(2)Net sales by products①Nine months ended December 31, 2022 and December 31, 2023
Fiscal year ended
March 31, 2023
Third
quarter

YoY

Full year

YoY

Third
quarter(Millions of yen, %)Fiscal year ended
March 31, 2024
Full year
YoY
YoY(Forecast)

HMI

27,300119.8

35,760115.8

25,27992.6

34,80097.3

Industrial relays &components

12,206121.3

15,476

113.6

8,641

70.8

12,000

77.5

7,577

117.0

10,327

122.0

7,648

100.9

10,900105.5

12,489133.6

16,282

128.1

8,735

69.9

12,50076.8

Systems

3,577

135.2

4,848

129.5

2,993

83.7

3,600

74.3

Others

957

103.1

1,174

86.1

1,042

108.9

1,200

102.2

Total

64,107122.7

83,869118.5

54,341

84.8

75,00089.4

Automation &sensing
Safety & explosion
protection- 11 -

②Quarterly trendsFirst
quarter

Fiscal year ended
March 31, 2023
SecondThird
quarterquarter

FourthquarterFirst
quarter(Millions of yen)
Fiscal year ended
March 31, 2024
SecondThird
Fourthquarterquarterquarter

HMI

8,880

9,500

8,919

8,459

8,594

8,839

7,844

-

Industrial relays &components

4,002

4,519

3,684

3,270

2,948

3,216

2,475

-

Automation & sensing

2,158

3,097

2,320

2,749

2,341

3,036

2,271

-

Safety & explosion
protection

3,841

4,326

4,321

3,792

3,104

3,156

2,475

-

Systems

950

1,213

1,413

1,271

911

1,058

1,023

-

Others

323

365

268

217

280

313

449

-

Total

20,15723,022

20,927

19,761

18,18019,620

16,540-(3)Net sales by regions①Nine months ended December 31, 2022 and December 31, 2023
Fiscal year ended
March 31, 2023
Third
quarterJapan

YoY

Full year

YoY

Third
quarter(Millions of yen, %)Fiscal year ended
March 31, 2024
Full year
YoY
YoY(Forecast)

25,894115.2

34,519111.7

20,25378.2

28,100

81.4

Americas12,014142.8

15,672135.9

10,490

87.3

-

-

EMEA

10,113115.6

13,466114.6

11,447

113.2

-

-

Asia Pacific

16,085127.4

20,210121.7

12,14975.5--

Total Overseas

38,213128.3

49,349123.7

34,08789.2

46,900

95.0

Total

64,107122.7

83,869118.5

54,341

84.8

75,00089.4

Overseas②Quarterly trendsFirst
quarterJapan

Fiscal year ended
March 31, 2023
SecondThird
quarterquarter

FourthquarterFirst
quarter(Millions of yen)
Fiscal year ended
March 31, 2024
SecondThird
Fourthquarterquarterquarter

8,319

8,944

8,630

8,625

6,681

7,591

5,981

-

Americas

3,457

4,273

4,283

3,657

3,707

3,624

3,159

-

EMEA

3,314

3,615

3,183

3,353

3,776

3,913

3,757

-

Asia Pacific

5,065

6,189

4,829

4,125

4,015

4,492

3,641

-

Total Overseas

11,837

14,07812,296

11,136

11,49812,02910,559-Total

20,15723,022

20,927

19,761

18,18019,620

16,540-Overseas- 12 -

(4)Orders received and orders backlog
Third quarter offiscal year ending March 31,2023
OrdersOrdersYoY
YoY
receivedbacklog(Millions of yen, %)Third quarter offiscal year ending March 31,2024
OrdersOrdersYoY
YoY
receivedbacklogJapan28,31780.5

17,057106.1

17,295

61.1

7,012

41.1

Americas13,094

119.6

6,038

135.4

8,305

63.4

2,771

45.9

EMEA

11,431

102.2

8,531

145.8

10,647

93.1

8,641

101.3

Asia Pacific

9,236

74.1

4,211

78.8

7,520

81.4

3,058

72.6

Total

62,07989.0

35,838113.0

43,76870.5

21,48559.9(5)Consolidated statement of cash flowsFirst
quarter
Cash flows fromoperating activities
Cash flows frominvesting activities
Cash flows fromfinancing activities
Cash and cash
equivalents

Fiscal year ended
March 31, 2023
SecondThird
quarterquarter

FourthquarterFirst
quarter(Millions of yen)
Fiscal year ended
March 31, 2024
SecondThird
Fourthquarterquarterquarter

(158)

3,590

479

3,097

(414)

2,816

(215)

-

(602)

(879)

(1,146)

(481)

78

(282)

(958)

-

(1,917)(384)(1,434)(666)(2,327)

(523)

1,421

-

13,03915,521

13,01915,07012,96915,131

15,167-(6)Capital expenditure
Fiscal year ended
March 31, 2023
Third
quarter
Consolidated

3,057

YoY
204.1

Full year
4,088

YoY
163.3

Third
quarter
2,233(Millions of yen, %)Fiscal year ended
March 31, 2024
Full year
YoY
YoY(Forecast)
73.1

3,200

78.3

(7)Depreciation and amortization expense
Fiscal year ended
March 31, 2023
Third
quarter
Consolidated

2,621

YoY
107.6

Full year
3,544

YoY
108.6

Third
quarter
2,918(Millions of yen, %)Fiscal year ended
March 31, 2024
Full year
YoY
YoY(Forecast)
111.3

3,900

110.0

(8)R&D expense

Third
quarter
Consolidated

2,191

Fiscal year ended
March 31, 2023
Sales
Full year
Ratio
3.4

2,958

- 13 -

Sales
Ratio
3.5

Third
quarter
2,111(Millions of yen, %)Fiscal year ended
March 31, 2024
Sales
Full year
Sales
Ratio
(Forecast)
Ratio
3.9

3,100

4.1