(For reference purposes only)

Consolidated Financial Results for the 2nd Quarterof the Fiscal Year Ending March 31, 2024 [Japanese Standard]
November 14, 2023
Stock exchange: Tokyo
Listed company name: AIDA ENGINEERING, LTD.
Stock code:

6118 (URL https://www.aida.co.jp/en/)

Representative:

Toshihiko Suzuki, Representative Director and President (CEO)Contact:

Hiromitsu Ugawa, Director, Managing Executive Officer, Division Manager, General Administration Headquarters
Tel: +81-42-772-5231

Scheduled date of filing quarterly securities report:

November 14, 2023

Scheduled beginning date of dividend payment:－

Preparation of supplemental explanatory materials:

Yes

Holding of quarterly financial results briefing:

Yes (for securities analysts and institutional investors)(Figures are rounded down to the nearest million yen)
1. Consolidated Results for 2nd Quarter of the Fiscal Year Ending March 31, 2024 (April 1, 2023 to September 30, 2023)(1) Consolidated Financial Results(Percentages represent change compared to the previous period)
Net income
Net sales
Operating income
Ordinary income
attributable toowners of parent
Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

%

1,461

85.2

1,148

131.7

789

(18.0)

495(10.3)

Six months ended
34,575
7.5
1,427
99.3
September 30, 2023
Six months ended
32,16419.5
716(10.3)
September 30, 2022
Note: Comprehensive income: Six months ended September 30, 2023
Six months ended September 30, 2022
Net income per
share

Diluted net income
per share

Yen

Yen

19.24

19.21

8.30

8.29

Total assets

Net assets

Six months ended
September 30, 2023
Six months ended
September 30, 2022

3,207 million yen (458.5%)574 million yen (-68.3%)(2) Consolidated Financial Position
Millions of yen

As of September 30, 2023
As of March 31, 2023
Reference: Shareholders’ equity

Shareholders’equity ratio

Millions of yen

Net assets per share%

Yen

121,052
79,334
65.5
116,287
78,04367.0
As of September 30, 2023
79,243 million yen
As of March 31, 2023
77,951 million yen

1,326.72
1,305.47

2. Cash Dividends
Cash dividends per share
1Q EndYear ended March 31, 2023
Year ending March 31, 2024
Year ending March 31, 2024
(forecast)

2Q End3Q EndYear-end

Total

Yen

Yen

Yen

Yen

Yen

－
－

－
－

－

30.00

30.00

－

30.00

30.00

Note: Revision of dividend forecast for this period: None
3. Forecasts of Consolidated Results for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)(Percentages represent change compared to the previous period)
Net income
Net
Net sales
Operating income
Ordinary income
attributable to owners incomeof parent
per share%

Millions of yen%

Millions of yen%

Yen

Full year
72,000
4.7
3,700
140.2
Note: Revision of forecasts of consolidated results: Yes

Millions of yen% Millions of yen

3,800

122.2

2,850

120.0

47.72

4. Others(1) Changes in significant subsidiaries during the period: None
(2) Application of special accounting treatment used in preparation of the quarterly consolidated financial statements:
Yes
Note: Please refer to “(Accounting Policies Adopted Specially for the Preparation of Quarterly Consolidated Financial
Statements)” in “(4) Notes to Quarterly Consolidated Financial Statements” on page 11 for details.
(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1. Changes in accounting policies due to revisions of accounting standards: None
2. Changes in accounting policies other than “1”: None
3. Changes in accounting estimates: None
4. Retrospective restatement: None
(4) Number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2023
69,448,421 shares
As of March 31, 2023
69,448,421 shares
2. Total number of treasury shares at the end of the period
As of September 30, 2023
9,719,879 shares
As of March 31, 2023
9,736,558 shares
3. Average number of shares outstanding during the period
Six months ended September 30, 2023
59,721,666 shares
Six months ended September 30, 2022
59,700,182 shares

Quarterly financial results are exempt from audit conducted by certified public accountants or an audit corporation.
Statement for proper use of business forecast and other special remarks:
The above forecasts and those presented in appended material are based on the information presently available.
Actual results may differ from these forecasts due to changes in various factors. For the assumptions used as a basis forthe business forecast and notes for using the forecast, please refer to “(3) Consolidated financial results forecast and otherforward-looking information” on page 4 of the attachments.

Table of Contents - Attachments
1. Qualitative information on the financial results for the period under review ................................................. 2(1) Operating results ........................................................................................................................................ 2(2) Financial position ....................................................................................................................................... 3(3) Consolidated financial results forecast and other forward-looking information ........................................ 4
2. Consolidated Financial Statements and Principal Notes ................................................................................ 6(1) Consolidated Balance Sheets ..................................................................................................................... 6(2) Consolidated Statements of Income and Comprehensive Income ............................................................. 8(3) Consolidated Statements of Cash Flows .................................................................................................... 10(4) Notes to Quarterly Consolidated Financial Statements ............................................................................ 11(Notes to Going Concern Assumption) .................................................................................................... 11(Notes Regarding Remarkable Fluctuation in Shareholders’ Equity) ........................................................ 11(Accounting Policies Adopted Specially for the Preparation of
Quarterly Consolidated Financial Statements) ........................................................................................ 11(Segment Information) ............................................................................................................................. 11
3. Supplementary Information .......................................................................................................................... 12
Status of Orders ........................................................................................................................................ 121

1. Qualitative information on the financial results for the period under review(1) Operating results
During the six months ended September 30, 2023, the global economy was generally on a moderate recovery trendwith normal conditions restored after COVID-19 and gradually relaxed supply constraints on semiconductors andothers, while economic activities were weighed down by tight monetary policy resulting from high inflation, and theslowdown in the European and Chinese economies added downward pressures to the overall economy. Downside risks
also increased due to geopolitical factors, including the Ukraine crisis, the Middle East situation, in addition to tensions
between the United States and China.
In the metalforming machinery industry, the Japan Forming Machinery Association reported that orders for pressmachines received in the six months ended September 30, 2023 increased 9.9% year on year to ¥87,417 million,
reflecting robust domestic and foreign demand.
Under these conditions, orders received by AIDA ENGINEERING, LTD. (the “Company”) and its groupcompanies in the six months ended September 30, 2023 were ¥42,990 million (down 9.1% year on year), due to areaction to rush orders before price increase in the corresponding period of the previous year even while demand forhigh-speed press machines for electric vehicles has remained firm. The order backlog as of September 30, 2023
reached a record high of ¥78,758 million (up 12.0% from the end of the previous fiscal year).
Net sales were ¥34,575 million (up 7.5% year on year), mainly due to increased sales of high-speed press machines
related to electric vehicles and the impact of yen depreciation.
In terms of profit, operating income was ¥1,427 million (up 99.3% year on year), ordinary income was ¥1,461
million (up 85.2% year on year), and net income attributable to owners of parent was ¥1,148 million (up 131.7% year
on year), mainly due to gain on sale of non-current assets. Contributing to this is the fact that increased sales and theimprovement of the product mix raised gross profit margins despite soaring manufacturing costs of raw materials,
subcontracting, logistics, and others.
Operating results by segment during the six months ended September 30, 2023 were as follows.
Japan:

China:

Asia:

Americas:

Europe:Net sales remained almost the same on a year-on-year basis at ¥18,493 million (down 1.3% year onyear). Although improvement of the product mix raised gross profit margins, segment loss was ¥225
million (segment loss of ¥288 million in the same period of the previous year) due to a sales shortfall
and others.
Due to robust sales of press machines, mainly customized press machines and high-speed pressmachines, net sales were ¥7,120 million (up 33.6% year on year). Segment profit was ¥510 million(up 101.5% year on year) partially due to a decrease in SG&A expenses.
Net sales remained almost the same on a year-on-year basis at ¥5,275 million (down 2.9% year onyear) due to a decrease in sales of customized press machines although sales of general-purpose pressmachines and services remained robust. Segment income was ¥620 million (up 82.5% year on year)
due to improvement of gross profit margins.
Net sales were ¥7,382 million (down 9.9% year on year) mainly due to a decrease in sales ofcustomized press machines. However, thanks to improvement of the product mix, segment income
was ¥164 million (up 232.6% year on year).
Net sales were ¥8,062 million (up 61.5% year on year) due to an increase in sales of high-speed pressmachines and services. Although rises in manufacturing costs led to decreased gross profit margins,segment income was ¥213 million (up 143.6% year on year) due to increased sales.

2(2) Financial position
1) Analysis of financial position
Total assets as of September 30, 2023 increased by ¥4,765 million from the end of the previous fiscal year to¥121,052 million. This is attributable to a ¥3,491 million increase in inventories and a ¥1,650 million increase in other
under investments and other assets.
Total liabilities increased by ¥3,473 million from the end of the previous fiscal year to ¥41,718 million. This is
attributable to a ¥1,077 million increase in trade payables, including accounts payable - trade and electronicallyrecorded obligations - operating, and a ¥1,042 million increase in contract liabilities.
Net assets increased by ¥1,291 million from the end of the previous fiscal year to ¥79,334 million. This is
attributable to a ¥1,996 million increase in foreign currency translation adjustment. As a result, shareholders’ equity
ratio was 65.5% as of September 30, 2023.
2) Analysis of cash flows
Cash and cash equivalents (the “cash”) as of September 30, 2023 decreased by ¥925 million from the end of theprevious fiscal year to ¥29,583 million.
Cash flows from activities during the six months ended September 30, 2023 and their primary factors are as
follows:(i) Cash flows from operating activities
Net cash provided by operating activities was ¥306 million (a cash outflow of ¥1,925 million in the same periodof the previous fiscal year). Factors for cash inflows include income before income taxes of ¥1,741 million and adecrease in trade receivables of ¥754 million, and factors for cash outflows include an increase in inventories of¥2,203 million.
(ii) Cash flows from investing activities
Net cash used in investing activities was ¥511 million (a cash outflow of ¥2,036 million in the same period of
the previous year). Factors for cash inflows include proceeds from sale of property, plant and equipment of ¥306
million, and factors for cash outflows include payments of ¥800 million for purchase of property, plant andequipment and purchase of intangible assets.
(iii) Cash flows from financing activities
Net cash used in financing activities was ¥1,915 million (a cash outflow of ¥2,157 million in the same periodof the previous year). Factors for cash outflows include dividends paid of ¥1,914 million.

3(3) Consolidated financial results forecast and other forward-looking information
There were differences between the forecasts of consolidated results for the six months ended September 30, 2023
(April 1, 2023 to September 30, 2023) announced on May 15, 2023 and the actual results announced today as follows,
and the Company revised its full-year forecasts of consolidated results for the fiscal year ending March 31, 2024 (April
1, 2023 to March 31, 2024).
1. Differences between the forecasts and actual consolidated results for the six months ended September 30, 2023
Differences between the forecasts and actual consolidated results for the six months ended September 30, 2023
(April 1, 2023 to September 30, 2023)
Net income
Operating
Ordinary
Net income
Net sales
attributable toincomeincomeper shareowners of parent
Previous forecasts (A)Actual results announced today(B)
Difference (B) - (A)Change (%)(Reference)
Actual results for the six months
ended September 30, 2022

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

36,000

2,350

2,450

1,800

30.14

34,575(1,424)
(4.0)

1,427
(922)
(39.2)

1,461(988)(40.4)

1,148(651)(36.2)

19.24－－

32,164

716

789

495

8.30

2. Revision of the forecasts of consolidated results for the fiscal year
Revision of the forecasts of consolidated results for the fiscal year ending March 31, 2024 (April 1, 2023 to March
31, 2024)
Net income
Operating
Ordinary
Net income
Net sales
attributable toincomeincomeper shareowners of parent
Previous forecasts (A)Revised forecast announced
today (B)
Difference (B) - (A)Change (%)(Reference)
Actual results for the fiscal year
ended March 31, 2023

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

72,000

4,700

4,900

3,600

60.29

72,000－－3,700(1,000)(21.3)

3,800(1,100)(22.4)

2,850(750)(20.8)

47.72－－

68,795

1,540

1,710

1,295

21.70

3. Reasons for differences between forecasts and actual results and reasons for revision of the forecasts ofconsolidated results
Actual net sales for the six months ended September 30, 2023 were lower than the initial forecast because longer
lead times of parts and other factors caused sales of press machines and services to be delayed to the second halfof the fiscal year. In addition, actual profit was lower than the initial forecast due to sales delays in high-valueadded press projects and the impacts of lower gross profit margins caused by manufacturing costs, such as raw
material and subcontracting costs, which increased more than expected.
For the full fiscal year ending March 31, 2024, the initial forecast for net sales remains unchanged as they are
anticipated to increase due to the yen’s depreciation, although sales will continue to be delayed in the second halfof the fiscal year onwards due to longer lead times of parts and others. The Company, however, lowered the initial
forecasts for profits because some sales will be delayed to the next fiscal year, and because increases in4manufacturing costs, such as raw material and subcontracting costs, will exceed expectations, although gross profit
margins will recover thanks to an increase in sales of high-value-added press projects and services.
* The above forecasts are based on the information presently available. Actual results may differ from these
forecasts due to changes in various factors.

5

2. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims - operating
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
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Insurance funds
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

6

As of September 30, 2023

30,51029,60422,506

21,4771,018
4,387
17,022
4,456
4,457(1,837)
82,522

1,260
3,827
20,599
4,931
4,456
(223)
85,933

26,737(19,222)
7,514
20,479(15,092)
5,387
7,297
234
4,245
(3,665)580
21,015
1,961

27,195(19,508)
7,687
21,660(16,155)
5,504
7,332
197
4,554
(3,887)667
21,390
2,064

9,186
571
633
268
161
(32)
10,78833,765116,287

10,087
534
649
272
1,811
(1,690)11,664
35,119121,052

(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Contract liabilities
Provision for product warranties
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for loss on orders received
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Long-term accounts payable - other
Deferred tax liabilities
Provision for share awards
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-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets

7

As of September 30, 2023

6,942
2,536
582
500
1,329
345
15,407
615
961

7,175
3,380
631
500
1,136
428
16,449
633
1,068

14

32

180
2,470
31,887200
3,252
34,889

1,000
1,005
1,870
649
1,451
9
369
6,356
38,244

1,000
1,119
1,834
706
1,438
9
720
6,828
41,718

7,831
13,00755,205(5,247)70,796

7,831
13,00754,432(5,241)70,029

3,994
(173)
3,463
(130)
7,155
91
78,043
116,287

4,632
(736)
5,460
(143)
9,213
91
79,334
121,052

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Commission expenses
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sale of non-current assets
Subsidy income related to suspension or decrease of
production
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets
Loss on suspension or decrease of production
Total extraordinary losses
Income before income taxes
Income taxes
Net income
Net income attributable to owners of parent

8

Six months ended
September 30, 2022
32,164
26,862
5,302
4,585
716

Six months ended
September 30, 2023
34,57528,250
6,324
4,897
1,427

35
169
47
252

70
121
36
228

9
97
57
16
180
789

17
158
4
13
194
1,461

1

286

8

－

100
109

－
286

1
4
6
12
885
390
495
495

－
5
－
5
1,741
592
1,148
1,148

Consolidated Statements of Comprehensive Income(Millions of yen)Six months ended
September 30, 2022
Net income
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
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

9495

Six months ended
September 30, 2023
1,148

(1,568)
(445)
2,125
(32)
78
574

638
(563)
1,996
(12)
2,058
3,207

574

3,207

(3) Consolidated Statements of Cash Flows(Millions of yen)Six months ended
September 30, 2022
Cash flows from operating activities
Income before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors(and other officers)
Increase (decrease) in provision for loss on orders received
Loss (gain) on sale of investment securities
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Increase (decrease) in provision for share awards
Interest and dividend income
Interest expenses
Loss (gain) on sale of property, plant and equipment
Loss on retirement of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Decrease (increase) in other assets
Increase (decrease) in other liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes refund (paid)
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Proceeds from sale of investment securities
Purchase of shares of subsidiaries
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
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 period10

Six months ended
September 30, 2023
885
893
(58)
32
20

1,741
988
(53)
(21)
91

(6)

18

(60)
(100)
(2)
(63)
93
(204)
9
0
4
1,049
(2,252)(1,762)(313)
779(1,033)(2,090)
202
(10)
(27)
(1,925)

13
－
(23)
(34)
56
(192)
17
(286)
5
754
(2,203)
236
(171)
72
(450)
559
192
(20)
(424)
306

(529)
322
(1,196)
14
(399)
251
(500)
(0)
(2,036)

(36)
19
(609)
306
(190)
－
－
(0)
(511)

(554)
(0)
(1,598)(2)(1)(2,157)
1,314(4,805)35,03030,224－(0)(1,914)－－(1,915)
1,194(925)
30,50829,583

(4) Notes to Quarterly Consolidated Financial Statements(Notes to Going Concern Assumption)
None(Notes Regarding Remarkable Fluctuation in Shareholders’ Equity)
None(Accounting Policies Adopted Specially for the Preparation of Quarterly Consolidated Financial Statements)(Calculation of tax expenses)
The effective tax rate after the application of tax effect accounting to income before income taxes for the current
fiscal year is reasonably estimated. Tax expenses are calculated by multiplying income before income taxes for thequarter by the estimated effective tax rate.
In addition, “income taxes – current” and “income taxes – deferred” are collectively presented as “income taxes.”(Segment Information)
Information regarding amounts of sales, income or loss, assets, other items, and disaggregation of revenue by reportablesegment
I. Six months ended September 30, 2022
(Millions of yen)
Consolidated
Adjustments
statements
Japan
China
Asia
Americas Europe Subtotal(*1)
of income
(*2)
Sales
(1) Sales to third parties
a. Press Machines

6,898

4,433

2,273

6,376

3,521

23,502－

23,502b. Service

2,647

596

832

1,574

1,210

6,860

－

6,860

c. Others

1,762

13

13

1

11

1,801

－

1,801

Subtotal

11,307

5,043

3,119

7,951

4,742

32,164－32,164(2) Inter-segment sales

7,428

287

2,314

245

248

10,524(10,524)－

Total sales

18,736

5,331

5,433

8,197

4,991

42,689(10,524)

32,164

(288)
253
339
49
87
442
274
Segment income (loss)
Notes:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment income (loss) refer to the adjustment as a result of inter-segment transaction
eliminations.
2. Segment income (loss) is adjusted to operating income of consolidated statements of income.

716

11

II. Six months ended September 30, 2023

(Millions of yen)
Consolidated
Adjustments
statements(*1)
of income
(*2)

Japan

China

Asia

Americas

EuropeSubtotala. Press Machines

5,838

6,344

2,449

5,549

5,687

25,870－25,870b. Service

2,473

607

1,079

1,500

1,461

7,122

－

7,122

c. Others

1,549

4

15

－

13

1,582

－

1,582

Subtotal

9,861

6,956

3,544

7,049

7,162

34,575－34,575(2) Inter-segment sales

8,631

163

1,730

332

899

11,757(11,757)－

Total sales

18,493

7,120

5,275

7,382

8,062

46,333(11,757)

34,575

(225)
510
620
164
213
1,283
143
Segment income (loss)
Notes:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment income (loss) refer to the adjustment as a result of inter-segment transaction
eliminations.
2. Segment income (loss) is adjusted to operating income of consolidated statements of income.

1,427

Sales
(1) Sales to third parties

3. Supplementary Information
Status of Orders
Six months ended September 30, 2023

(Millions of yen)OrdersAmountOrder backlog

Comparison with theprevious period (%)

AmountComparison with the endof previous year (%)

Japan

15,194

3.8

29,051

22.5

China

5,316

(52.9)

15,872

(9.4)

Asia

4,212

14.7

5,973

12.6

Americas8,357(12.8)

11,996

12.2

Europe

9,908

22.1

15,863

20.9

Total

42,990(9.1)

78,75812.0

Notes:
1. Inter-segment transactions have been eliminated.
2. Amounts above do not include consumption tax.

12