(For reference purposes only)

Consolidated Financial Results for the 3rd Quarterof the Fiscal Year Ending March 31, 2023 [Japanese Standard]
February 14, 2023
Stock exchange: Tokyo
Listed company name: AIDA ENGINEERING, LTD.
Stock code:
6118 (URL https://www.aida.co.jp/en/)
Representative:
Kimikazu Aida, Chairman & President (CEO)Contact:
Hiromitsu Ugawa, Director, Managing Executive Officer, Division Manager, General Administration Headquarters
Scheduled date of filing quarterly securities report:
February 14, 2023
Scheduled beginning date of dividend payment:－
Preparation of supplemental explanatory materials:
Yes
Holding of quarterly financial results briefing:None

Tel: +81-42-772-5231(Figures are rounded down to the nearest million yen)
1. Consolidated Results for 3rd Quarter of the Fiscal Year Ending March 31, 2023 (April 1, 2022 to December 31, 2022)(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

Nine months ended
48,1359.1
994 (29.0)
1,152 (24.4)
774
December 31, 2022
Nine months ended
44,102
12.4
1,399 (42.5)
1,525 (37.6)
859
December 31, 2021
Note: Comprehensive income: Nine months ended December 31, 2022
179 million yen (-91.5%)
Nine months ended December 31, 2021 2,105 million yen (-36.5%)
Net income per
share

(9.9)
(30.0)

Diluted net income
per share

Yen

Yen

12.97

12.95

14.40

14.37

Total assets

Net assets

Nine months ended
December 31, 2022
Nine months ended
December 31, 2021%

(2) Consolidated Financial Position
Millions of yen

As of December 31, 2022
As of March 31, 2022
Reference: Shareholders’ equity

Shareholders’equity ratio

Millions of yen

Net assets per share%

Yen

115,01176,745
66.6
113,933
78,664
68.4
As of December 31, 2022
76,653 million yen
As of March 31, 2022
77,901 million yen

1,283.79
1,304.89

2. Cash Dividends
Cash dividends per share
1Q EndYen

2Q End3Q EndYear-end

Total

Yen

Yen

Yen

Yen

Year ended March 31, 2022——
Year ending March 31, 2023——
Year ending March 31, 2023
(forecast)
Note: Revision of dividend forecast for this period: None

—
—

25.00

25.00

30.00

30.00

3. Forecasts of Consolidated Results for the Fiscal Year Ending March 31, 2023 (April 1, 2022 to March 31, 2023)(Percentages represent change compared to the previous period)
Net income
Net income
Net sales
Operating income
Ordinary income
attributable toper shareowners of parent
Millions of yen% Millions of yen% Millions of yen

Full year
70,000
12.1
2,600
3.8
Note: Revision of forecasts of consolidated results: Yes

2,700% Millions of yen

11.0

1,900

%

Yen

111.9

31.82

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: This refers to whether these above were used for preparing quarterly consolidated financial statements.
(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1. Changes in accounting policies due to revisions of accounting standards: Yes
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 December 31, 2022
69,448,421 shares
As of March 31, 2022
69,448,421 shares
2. Total number of treasury shares at the end of the period
As of December 31, 2022
9,739,117 shares
As of March 31, 2022
9,748,838 shares
3. Average number of shares outstanding during the period
Nine months ended December 31, 2022
59,701,107 shares
Nine months ended December 31, 2021
59,695,129 shares

Financial results reports 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 3 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 ........................................ 3
2. Consolidated Financial Statements and Principal Notes ................................................................................ 4(1) Consolidated Balance Sheets ..................................................................................................................... 4(2) Consolidated Statements of Income and Comprehensive Income ............................................................. 6(3) Notes to Quarterly Consolidated Financial Statements .............................................................................. 8(Notes to Going Concern Assumption) ...................................................................................................... 8(Notes Regarding Remarkable Fluctuation in Shareholders' Equity) .......................................................... 8(Accounting Policies Adopted Specially for the Preparation of
Quarterly Consolidated Financial Statements) .......................................................................................... 8(Changes in Accounting Policies) .............................................................................................................. 8(Segment Information) ............................................................................................................................... 8
3. Supplementary Information ............................................................................................................................ 9
Status of Orders .......................................................................................................................................... 9

1

1. Qualitative information on the financial results for the period under review(1) Operating results
During the nine months ended December 31, 2022, the global economy headed towards normalization fromCOVID-19, but the overall economy was in a slowdown phase due to the impacts of global inflation, shortages ofsemiconductors and electronic components, the issues between Russia and Ukraine and other factors. Going forward,
in addition to the prolongation of these problems, the outlook remains uncertain due to energy shortages and concerns
about geopolitical risks such as the conflicts between the United States and China.
In the metalforming machinery industry, the Japan Forming Machinery Association reported that orders for pressmachines received in the nine months ended December 31, 2022 increased 10.0% year on year to ¥118,462 million,
reflecting robust domestic demand.
Under these conditions, orders received by AIDA ENGINEERING, LTD. (the “Company”) and its groupcompanies (collectively, the “Group”) in the nine months ended December 31, 2022 reached ¥65,929 million (up 8.6%
year on year), supported by increased demand related to electric vehicles, and the order backlog as of December 31,
2022 reached ¥72,938 million (up 32.3% from the end of the previous fiscal year).
Net sales were ¥48,135 million (up 9.1% year on year), mainly due to the impacts of exchange rates. However,sales were lower than initially expected due to sales delays caused by the impacts of the shortage of electronic
components, etc.
In terms of profit, operating income was ¥994 million (down 29.0% year on year), ordinary income was ¥1,152
million (down 24.4% year on year), and net income attributable to owners of parent was ¥774 million (down 9.9%
year on year) due to factors such as the sales shortfall stated above and lower gross profit margins caused by soaring
costs of raw materials, subcontracting, and logistics, and sales delays in high value-added press projects and service
work, etc., and increased SG&A expenses.
Operating results by segment during the nine months ended December 31, 2022 were as follows.
Japan:

China:

Asia:

Americas:

Europe:Net sales were ¥28,607 million (up 6.5% year on year) due to an increase in sales of press machines
related to electric vehicles, but segment loss was ¥47 million (segment profit of ¥259 million in thesame period of the previous year) due to the lower gross profit margins resulting from soaring costs,
etc.
Increased sales of press machines related to electric vehicles resulted in net sales of ¥7,640 million(up 14.7% year on year). However, segment profit was ¥439 million (down 13.1% year on year)
due to a decrease in sales of services and an increase in SG&A expenses.
Net sales were ¥7,686 million (up 57.5% year on year) due to a recovery in sales of press machines
and services from the previous fiscal year, when sales fell due to lockdowns, etc. Segment profit
was ¥551 million (up 40.7% year on year) due to increased sales.
Net sales increased to ¥12,124 million (up 26.3% year on year) due to an increase in sales ofservices and the impact of the yen’s depreciation. However, segment profit was ¥33 million (down
68.9% year on year) due to soaring costs and an increase in SG&A expenses.
Net sales were ¥8,619 million (down 4.7% year on year) due to delays in sales of press machinescaused by the shortage of electronic components, etc. However, segment profit was ¥161 million(up 60.4% year on year) due to an improvement in gross profit margins.

2(2) Financial position
Total assets as of December 31, 2022 increased by ¥1,077 million from the end of the previous fiscal year to¥115,011 million. This is attributable to a ¥5,220 million decrease in cash and deposits, a ¥1,640 million increase intrade receivables, including notes and accounts receivable - trade, and contract assets and electronically recordedmonetary claims - operating, a ¥5,078 million increase in inventories, a ¥1,021 million increase in other current assets
and a ¥2,227 million decrease in investment securities.
Total liabilities increased by ¥2,996 million from the end of the previous fiscal year to ¥38,265 million. This is
attributable to a ¥3,703 million increase in contract liabilities.
Net assets decreased by ¥1,918 million from the end of the previous fiscal year to ¥76,745 million. This is
attributable to a ¥1,495 million decrease in valuation difference on available-for-sale securities. As a result,shareholders’ equity ratio was 66.6% as of December 31, 2022.
(3) Consolidated financial results forecast and other forward-looking information
The Company revised its forecasts of consolidated results for the fiscal year ending March 31, 2023 (April 1, 2022
to March 31, 2023) announced on November 9, 2022 as follows.
Revision of the forecasts of consolidated results for the fiscal year ending March 31, 2023 (April 1, 2022 toMarch 31, 2023)
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, 2022

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

72,000

3,400

3,500

2,300

38.53

70,000

2,600

2,700

1,900

31.82

(2,000)
(2.8)

(800)
(23.5)(800)(22.9)(400)(17.4)——

62,466

2,505

2,432

896

15.02

Reasons for revision of the forecasts of consolidated results
The full-year net sales forecast has been revised downward, reflecting that projected sales of press machines
have been delayed into the next fiscal year largely because of the shortage of electronic components, and sales ofservices fell short of expectations. Profit forecasts were revised downward from the previous forecasts, given theimpact of higher-than-expected cost increases in addition to the aforementioned decrease in sales.
The dividend forecast remains unchanged.
* The above forecasts are based on the information presently available. Actual results may differ from these
forecasts due to changes in various factors.

3

2. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheets(Millions of Yen)
As of March 31, 2022
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

35,031

4

As of December 31, 2022

17,69029,811
19,182

1,087
4,135
13,0194,420
3,358(1,040)77,703

1,236
4,522
17,429
4,702
4,379
(975)
80,28825,709(18,481)
7,227
18,849(13,822)
5,027
7,263
1,437
3,925
(3,418)506
21,462
1,179

26,545(19,031)7,514
20,064(14,805)
5,259
7,286
891
4,153
(3,600)552
21,503
1,789

10,469
1,891
820
285
153
(32)
13,58836,230113,933

8,242
1,872
845
278
223
(32)
11,42934,722
115,011(Millions of Yen)
As of March 31, 2022
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Short-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
Provision for share awards
Retirement benefit liability
Asset retirement obligations
Deferred tax liabilities
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
Non-controlling interests
Total net assets
Total liabilities and net assets

5

As of December 31, 2022

6,137
2,888
1,094
1,612
175
12,091
497
1,020

6,358
3,319
565
1,216
255
15,794
560
595

22

8

211
2,398
28,150196
2,634
31,507

1,500
924
510
1,456
9
2,336
380
7,119
35,269

1,500
1,018
629
1,442
9
1,862
296
6,758
38,265

7,831
12,83655,511(5,250)70,927

7,831
13,007
54,684(5,247)70,274

4,815
(295)
2,365
87
6,973
91
671
78,664113,933

3,320
(235)
3,255
38
6,379
91
–
76,745
115,011(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
Loss attributable to non-controlling interests
Net income attributable to owners of parent

6

Nine months ended
December 31, 2021
44,10236,402
7,699
6,300
1,399

Nine months ended
December 31, 2022
48,13540,238
7,897
6,902
994

29
163
61
254

52
230
60
344

17
73
–
38
129
1,525

13
92
58
21
185
1,152

12

3

22

8

–
34

146
158

–
55
106
162
1,397
548
849
(10)
859

1
8
6
16
1,294
520
774
–
774

Consolidated Statements of Comprehensive Income(Millions of Yen)
Nine months ended
December 31, 2021
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
Comprehensive income attributable to non-controllinginterests

7

Nine months ended
December 31, 2022
849

774

607
(4)
703
(51)
1,255
2,105

(1,495)
60
889
(48)
(594)
179

2,115

179

(10)

–

(3) 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.”(Changes in Accounting Policies)
The Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, June17, 2021; the “Implementation Guidance on Fair Value Measurement Standard”) has been applied since thebeginning of the first quarter of the current fiscal year. In line with the transitional treatment stipulated in
Paragraph 27-2 of the Implementation Guidance on Fair Value Measurement Standard, the Company will apply
the new accounting policy specified in the Implementation Guidance on Fair Value Measurement Standard
prospectively. This has no effect on the quarterly consolidated financial statements.
(Segment Information)
Information regarding amounts of sales, profit, assets, other items, and disaggregation of revenue by reportable segment
I. Nine months ended December 31, 2021
(Millions of Yen)
Consolidated
statements
of income
(*2)

Japan

China

Asia

Americas

EuropeSubtotal

Adjustments(*1)

a. Press Machines

10,359

5,013

1,453

7,626

6,806

31,260–31,260b. Service

3,860

1,324

1,014

1,864

1,935

9,999

–

9,999

c. Others

2,739

46

10

–

46

2,843

–

2,843

Subtotal

16,959

6,384

2,478

9,491

8,788

44,102–

44,102(2) Inter-segment sales

9,906

274

2,400

104

253

12,939(12,939)–

Total sales

26,866

6,658

4,879

9,596

9,041

57,042(12,939)

44,102

259
506
392
108
100
1,367
Segment profit
Notes:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment profit refer to inter-segment transaction eliminations.
2. Segment profit is adjusted to operating income of consolidated statements of income.

32

1,399

Sales
(1) Sales to third parties

8II. Nine months ended December 31, 2022

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

Japan

China

Asia

Americas

EuropeSubtotala. Press Machines

10,236

6,143

2,912

9,270

6,263

34,824–34,824b. Service

3,717

1,086

1,378

2,536

2,004

10,722–

10,722c. Others

2,522

16

21

1

25

2,587

–

2,587

Subtotal

16,476

7,245

4,312

11,807

8,293

48,135–

48,135(2) Inter-segment sales

12,131

395

3,374

317

326

16,544(16,544)–

Total sales

28,607

7,640

7,686

12,124

8,619

64,679(16,544)

48,135

(47)
439
551
33
161
1,138
Segment profit or loss
Notes:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment profit or loss refer to inter-segment transaction eliminations.
2. Segment profit or loss is adjusted to operating loss of consolidated statements of income.

(144)

994

Sales
(1) Sales to third parties

3. Supplementary Information
Status of Orders
Nine months ended December 31, 2022

(Millions of Yen)

OrdersAmountOrder backlog

Comparison with theprevious period (%)

AmountComparison with the endof previous year (%)

Japan

22,8841.0

25,221

34.1

China

14,41948.6

18,160

65.3

Asia

4,861

5.8

4,780

13.0

Americas11,749(22.6)

10,667(0.5)

Europe12,01440.3

14,108

35.8

Total

65,9298.6

72,93832.3

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

9