(For reference purposes only)

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023
[Japanese Standard]
May 15, 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
Scheduled date of ordinary general meeting of shareholders:June 27, 2023
Scheduled date of beginning dividend payment:
June 28, 2023
Scheduled date of filing annual securities report:
June 27, 2023
Preparation of supplemental explanatory materials:
Yes
Holding of financial results briefing:
Yes (for securities analysts and institutional investors)

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

Year ended March
68,79510.1
1,540
31, 2023
Year ended March
62,4667.5
2,505
31, 2022
Note: Comprehensive income: Year ended March 31, 2023
Year ended March 31, 2022%

Millions of yen%

Millions of yen%(38.5)

1,710(29.7)

1,295

44.5

(32.7)

2,432(35.1)

896(31.9)

1,477 million yen (-41.5%)
2,526 million yen (-44.3%)

Net income per
share

Diluted net
income per share

Return on equity

Ratio of ordinary
income to total
assetsRatio ofoperating income
to net sales

Yen

Yen

%

%

%

21.67

1.7

1.5

2.2

14.99

1.2

2.2

4.0

Year ended March
21.70
31, 2023
Year ended March
15.02
31, 2022
Reference: Equity in earnings of affiliates

Year ended March 31, 2023
Year ended March 31, 2022

— million yen— million yen

Net assets

Shareholders’equity ratio(2) Consolidated Financial Position
Total assets
Millions of yen

As of March 31, 2023
As of March 31, 2022
Reference: Shareholders’ equity

Millions of yen

116,287
113,933
As of March 31, 2023
As of March 31, 2022

Net assets per share%

Yen

78,04367.0
78,66468.4
77,951 million yen
77,901 million yen

1,305.47
1,304.89

(3) Consolidated Cash Flows
Operating activities

Investing activities

Financing activities

Cash and cash
equivalents at end of
periodMillions of yen

Millions of yen

Millions of yen

Millions of yen(1,129)5,905(1,884)(2,828)(2,166)(1,533)30,50835,030Year ended March 31, 2023
Year ended March 31, 2022
2. Cash Dividends

Ratio of
Total
Payout ratio dividends
dividends(Consolidated) to net assets

Cash dividends per share
1Q End 2Q End 3Q End

Year ended March 31, 2022
Year ended March 31, 2023
Year ending March 31, 2024
(forecast)Year-end

Total(Annual)

Yen

Yen

Yen

Yen

Yen

Millions of
yen

—
—

—
—

—
—

25.00
30.00

25.00
30.00

1,601
1,921

—

—

—

30.00

30.00

(Consolidated)
%

%

166.5
138.3

1.9
2.3

49.8

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 corresponding period)
Net income
Net income
Net sales
Operating income
Ordinary income
attributable toper shareowners of parent
Six months
endingSeptember
30, 2023
Full year

Millions of yen% Millions of yen% Millions of yen%

Millions of yen%

Yen

36,000

11.9

2,350

228.0

2,450

210.4

1,800

263.1

30.14

72,000

4.7

4,700

205.2

4,900

186.5

3,600

177.9

60.29

4. Others(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes in scopeof consolidation): None
(2) 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
Note: Please refer to “(Changes in Accounting Policies)” in “(5) Notes to Consolidated Financial Statements” onpage 13 for details.
(3) Number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023
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 March 31, 2023
9,736,558 shares
As of March 31, 2022
9,748,838 shares
3. Average number of shares outstanding during the period
Year ended March 31, 2023
59,703,426 sharesYear ended March 31, 2022
59,695,511 shares[Reference] Outline of Non-Consolidated Financial Results
1. Non-Consolidated Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)(1) Non-Consolidated Financial Results(Percentages represent change compared to the previous period)
Net sales
Operating income
Ordinary income
Net income
Millions of yen

Year ended March 31, 2023
Year ended March 31, 2022

37,591
33,916% Millions of yen

10.8
(6.0)

798
1,021

Net income per share
Year ended March 31, 2023
Year ended March 31, 2022

% Millions of yen(21.8)(67.7)% Millions of yen

1,390 (7.9)
1,510 (60.8)

%

1,280
(5)

—
—

Diluted net income per share

Yen

Yen

21.45
(0.10)

21.42—(2) Non-Consolidated Financial Position
Total assets
Millions of yen

As of March 31, 2023
As of March 31, 2022
Reference: Shareholders’ equity

Net assets
Millions of yen

Shareholders’ equity
ratio

Net assets per share%

Yen

76,08759,956
78.7
78,27861,031
77.9
As of March 31, 2023
59,865 million yen
As of March 31, 2022
60,940 million yen

1,002.57
1,020.79

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:(Notes on forward-looking statements)
Performance forecasts presented in these documents are based on information available as of the date of publication.
Actual results may differ from these forecasts due to various factors in the future. For the assumptions used as a basis forthe business forecast and notes for using the forecast, please refer to “Overview of operating results” on page 2 of theattachments.
A financial results briefing for securities analysts and institutional investors is scheduled to be held on May 25, 2023. The
briefing material will be posted on our website shortly thereafter.

Table of Contents - Attachments
1. Overview of operating results, etc. ................................................................................................................. 2(1) Overview of operating results for the period under review ........................................................................ 2(2) Overview of financial position for the period under review ...................................................................... 2(3) Overview of cash flows for the period under review ................................................................................. 3(4) Differences between forecasts and actual consolidated results for the fiscal year ended March 31, 2023......................................................................................................................................................................... 4(5) Allowance for doubtful accounts posted at consolidated subsidiary .......................................................... 4(6) Future outlook .............................................................................................................................................. 5
2. Basic Stance Concerning Choice of Accounting Standards ........................................................................... 5
3. 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 Changes in Net Assets ................................................................................. 10(4) Consolidated Statements of Cash Flows .................................................................................................. 12(5) Notes to the Consolidated Financial Statements ...................................................................................... 13(Notes to Going Concern Assumption) .......................................................................................................... 13(Changes in Accounting Policies) .................................................................................................................. 13(Segment Information) ................................................................................................................................... 14(Per Share Information) ................................................................................................................................. 16(Significant Subsequent Events) .................................................................................................................... 17
4. Supplementary Information .......................................................................................................................... 17(1) Status of Orders ........................................................................................................................................ 17(2) Changes in Officers .................................................................................................................................. 171

1. Overview of operating results, etc.
(1) Overview of operating results for the period under review
During the fiscal year ended March 31, 2023, the global economy was recovering as progress was made towards
normalization from COVID-19, but remained in a slowdown phase due to the impacts of persistently high inflation,
prolongation of issues between Russia and Ukraine, energy shortages, shortages of semiconductors for the automotive
sector, etc. and other factors. Going forward, the outlook remains uncertain due to further downward pressure on theeconomy stemming from monetary tightening 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 fiscal year ended March 31, 2023 increased 7.0% year on year to ¥153,309 million, reflecting
robust domestic demand.
Under these conditions, orders received by AIDA ENGINEERING, LTD. (the “Company”) and its groupcompanies (collectively, the “Group”) in the fiscal year ended March 31, 2023 reached a record high of ¥83,994
million (up 7.2% year on year), supported by increased demand related to electric vehicles, and the order backlog asof March 31, 2023 reached ¥70,343 million (up 27.6% from the end of the previous fiscal year).
Net sales were ¥68,795 million (up 10.1% year on year), mainly due to increased demand related to electric vehicles
and the impacts of exchange rates.
In terms of profit, operating income was ¥1,540 million (down 38.5% year on year) and ordinary income was¥1,710 million (down 29.7% year on year), due to factors such as soaring costs of raw materials, subcontracting, andlogistics, and the posting of an allowance for doubtful accounts. However, net income attributable to owners of parent
was ¥1,295 million (up 44.5% year on year) due to factors such as the eliminations of loss on impairment at an overseas
subsidiary and loss on decrease of production from COVID-19 recorded in the previous fiscal year, as well as gain onsale of cross-shareholdings and gain on liquidation of an overseas subsidiary in the fiscal year ended March 31, 2023.
Operating results by segment during the fiscal year ended March 31, 2023 were as follows.
Japan:

China:

Asia:

Americas:

Europe:Net sales were ¥41,648 million (up 9.1% year on year) due to robust sales of press machines, butsegment profit was ¥455 million (down 43.2% year on year) due to the lower gross profit margins
resulting from an increase in costs of raw materials, etc.
Net sales were ¥11,021 million (up 24.5% year on year) due an increase in sales of medium- andsmall-sized press machines, but segment loss was ¥149 million (segment profit of ¥741 million in
the previous year) due to the posting of an allowance for doubtful accounts.
Net sales were ¥10,676 million (up 39.6% year on year) due to an increase in sales of pressmachines and services and the impact of the yen’s depreciation. Segment profit was ¥909 million(up 22.0% year on year).
Net sales increased to ¥16,792 million (up 21.1% year on year) due to an increase in sales ofservices and the impact of the yen’s depreciation. However, segment profit remained largely
unchanged at ¥286 million (up 6.2% year on year) due to the lower gross profit margins resulting
from soaring costs of raw materials and subcontracting, etc.
Net sales were ¥12,864 million (up 1.6% year on year) due to an increase in sales of services andthe impact of the yen’s depreciation. However, segment profit was ¥227 million (up 104.9% year onyear) due to an improvement in gross profit margins.

(2) Overview of financial position for the period under review
Total assets as of March 31, 2023 increased by ¥2,353 million from the end of the previous fiscal year to ¥116,287
million. This is attributable to a ¥4,521 million decrease in cash and deposits, a ¥4,747 million increase in tradereceivables, including notes and accounts receivable - trade, and contract assets and electronically recorded monetaryclaims - operating, a ¥4,291 million increase in inventories, a ¥1,282 million decrease in investment securities, and a¥1,319 million decrease in insurance funds.
2

Total liabilities increased by ¥2,974 million from the end of the previous fiscal year to ¥38,244 million. This is
attributable to a ¥3,316 million increase in contract liabilities.
Net assets decreased by ¥620 million from the end of the previous fiscal year to ¥78,043 million. As a result,shareholders’ equity ratio was 67.0% as of March 31, 2023.

(3) Overview of cash flows for the period under review
Cash and cash equivalents (the “funds”) as of March 31, 2023 decreased by ¥4,521 million from the end of theprevious fiscal year to ¥30,508 million.
Cash flows from activities during the fiscal year ended March 31, 2023 and their primary factors are as follows:(i) Cash flows from operating activities
Net cash used in operating activities was ¥1,129 million (a cash inflow of ¥5,905 million in the previous fiscal
year). Factors for cash inflows include income before income taxes of ¥1,964 million and depreciation of ¥1,847
million, and factors for cash outflows include an increase in trade receivables of ¥1,284 million and an increase ininventories of ¥3,310 million.
(ii) Cash flows from investing activities
Net cash used in investing activities was ¥1,884 million (a cash outflow of ¥2,828 million in the previous fiscal
year). Factors for cash outflows include purchase of property, plant and equipment and intangible assets of ¥2,373
million.
(iii) Cash flows from financing activities
Net cash used in financing activities was ¥2,166 million (a cash outflow of ¥1,533 million in the previous fiscal
year). Factors for cash outflows include dividends paid of ¥1,601 million.
(Reference) Trends in indicators related to cash flows

Shareholders’ equity ratio (%)
Shareholders’ equity ratio
based on fair value (%)
Ratio of interest-bearing debt
to cash flow (%)
Interest coverage ratio (times)

Fiscal year
ended March
31, 2019

Fiscal year
ended March
31, 2020

Fiscal year
ended March
31, 2021

Fiscal year
ended March
31, 2022

Fiscal year
ended March
31, 2023

68.5

71.1

71.2

68.4

67.0

44.2

39.5

55.1

55.4

42.0

134.6

115.4

38.7

44.2

—

77.4

126.0

228.5

304.4

—

Shareholders’ equity ratio:
Shareholders’ equity ratio based on fair value:

Ratio of interest-bearing debt to cash flow:
Interest coverage ratio:

Shareholders’ equity ÷ Total assets
Total market value of shares ÷ Total assets
Interest-bearing debt ÷ Cash flow
Cash flow ÷ Interest paid

Notes:
1. The indicators were calculated using figures from consolidated financial statements.
2. The total market value of shares was calculated by multiplying the closing price of the closing date by the total
number of shares outstanding (less the treasury shares) on the day.
3. Cash flow is the figure of net cash provided by (used in) operating cash flows recorded in the Consolidated
Statements of Cash Flows. Interest-bearing debts include all debts recorded on the Consolidated Balance Sheets forwhich interest is paid. In addition, interest paid is the interest expenses paid shown in the Consolidated Statements ofCash Flows.

3(4) Differences between forecasts and actual consolidated results for the fiscal year ended March 31, 2023
There were differences between the forecasts of consolidated results for the fiscal year ended March 31, 2023
announced on February 14, 2023 and the actual results announced today as follows.
1. Differences between forecasts and actual consolidated results for the fiscal year ended March 31, 2023 (April 1,
2022 to March 31, 2023)
Net income
Operating
Ordinary
Net income
Net sales
attributable toincomeincomeper shareowners of parent
Previous forecasts (A)Actual results (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

70,00068,795(1,204)
(1.7)

2,600
1,540
(1,059)(40.8)

2,700
1,710
(989)
(36.7)

1,900
1,295
(604)
(31.8)

31.82
21.70
—
—

62,466

2,505

2,432

896

15.02

2. Reasons for differences
Operating income, ordinary income, and net income attributable to owners of parent were lower than the initial
forecast due to the provision of allowance for doubtful accounts at a consolidated subsidiary in China of ¥852
million (SG&A expenses) and delays in the recording of sales for a portion of press machines. Further details on
the recording of allowance for doubtful accounts are as follows.

(5) Allowance for doubtful accounts posted at consolidated subsidiary
AIDA ENGINEERING CHINA CO., LTD., a consolidated subsidiary of the Company, will post an allowance for
doubtful accounts as a result of claims held against a business partner in China for which collection is likely to become
impossible or delayed as follows.
1. Description of business partner
As said business partner has not applied for legal liquidation or other such procedures, the Company will refrainfrom disclosing said business partner’s name, etc. in consideration of the potential impact of this revelation on thebusiness continuation of said business partner.
2. Background of irrecoverable claims or delayed recovery of claims
AIDA ENGINEERING CHINA CO., LTD. has been implementing measures to protect assets following the postingof an allowance for doubtful accounts of ¥756 million for the fiscal year ended March 31, 2021 as a result of delaysin the collection of a portion of ¥1,625 million in payment for press machines delivered to the aforementioned business
partner. However, a voluntary restructuring plan proposed to major suppliers in the previous fiscal year failed tomaterialize and prospects for the procurement of funding remain uncertain for the time being, and the protectableassets which the business partner could provide were limited. Based on this situation, the Company has made acomprehensive judgment that there is currently greater uncertainty in the potential for debt recovery, and as a result,has decided to post an additional allowance for doubtful accounts in the fiscal year ended March 31, 2023.

4

3. Type of claims (right to obtain reimbursement) against business partner, amount, and proportion of consolidated net
assets (%)
Trade receivables ¥1,625 million 2.1%

(6) Future outlook
The forecast for the next fiscal year is ¥72.0 billion in net sales, ¥4.7 billion in operating income, ¥4.9 billion in
ordinary income and ¥3.6 billion in net income attributable to owners of parent.

2. Basic Stance Concerning Choice of Accounting Standards
Taking into consideration the comparability of consolidated financial statements across periods and among companies,
the Group’s policy is to prepare its consolidated financial statements using Japanese GAAP for the immediate future.
With regard to International Financial Reporting Standards (IFRS), the Group’s policy is to respond appropriately
based on consideration of the situation in Japan and overseas.

5

3. 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
Advance payments - trade
Accounts receivable - otherConsumption taxes receivable
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 March 31, 2023

35,031

30,51017,69022,506

1,087
4,135
13,019
4,420
1,719
489
846
302
(1,040)77,703

1,018
4,387
17,022
4,456
2,222
526
1,220
487
(1,837)
82,52225,709(18,481)
7,227
18,849(13,822)
5,027
7,263
1,437
3,925
(3,418)506
21,462
1,179

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

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

9,186
571
633
268
161
(32)
10,78833,765116,287(Millions of Yen)
As of March 31, 2022
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
Accrued expenses
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
Non-controlling interests
Total net assets
Total liabilities and net assets

7

As of March 31, 2023

6,137
2,888
1,094
–
1,612
175
1,128
12,091
497
1,020

6,942
2,536
582
500
1,329
345
1,089
15,407
615
961

22

14

211
1,270
28,150180
1,381
31,887

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

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

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

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

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

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

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of Yen)
Year ended March 31, 2022

Year ended March 31, 2023

62,466
51,574
10,8928,386
2,505

68,79557,168
11,627
10,087
1,540

36
202
79
318

96
298
122
517

18
22
269
19
62
391
2,432

8
80
172
–
85
347
1,710

10
6

8
146

22

7

–
39

117
280

0
56
123
492
–
46
718
1,753
772
75
848
904
8
896

2
14
6
–
3
–
26
1,964
790
(121)
668
1,295
–
1,295

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
Commission expenses
Foreign exchange losses
Loss on restructuring of Europe business
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Subsidy income related to suspension or decrease of
production
Gain on liquidation of subsidiaries
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
Loss on impairment
Loss on liquidation of subsidiaries
Other
Total extraordinary losses
Income before income taxes
Current taxes
Deferred taxes
Income taxes
Net income
Net income attributable to non-controlling interests
Net income attributable to owners of parent

8

Consolidated Statements of Comprehensive Income(Millions of Yen)
Year ended March 31, 2022

Year ended March 31, 2023

904

1,295

(54)
(156)
1,955
(123)
1,621
2,526

(821)
122
1,098
(218)
181
1,477

2,518

1,477

8

–

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-controllinginterests9(3) Consolidated Statements of Changes in Net Assets
Year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)(Millions of Yen)
Shareholders’ equity
Share capital
Balance at beginning of period

7,831

Capital surplus Retained earnings
12,42355,963Cumulative effects of changes
in accounting policies
Restated balance

Treasury shares

Total shareholders’equity(4,838)71,379(85)
7,831

12,423(85)

55,877(4,838)71,293

Changes during the period
Cash dividends
Net income attributable toowners of parent(1,263)(1,263)896

896

Purchase of treasury stock

(0)

(0)

Disposal of treasury stock

1

1

(412)

–

Disposal of treasury stock tostock benefit trust
Net changes of items otherthan shareholders’ equity
Total changes during period
Balance at end of period

412

–

412

(366)

(412)

(366)

7,831

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

Accumulated other comprehensive income
NonValuation
Foreign
Total accumulated ShareDeferredRemeasurements
acquisition controlling
difference on
currency
othergains or losses
of definedrightsinterests
available-fortranslation
comprehensive
on hedges
benefit planssale securities
adjustment
incomeBalance at beginning of period

4,869

(139)

410

210

5,351

91

Cumulative effects of changes
in accounting policies
Restated balance

4,869

(139)

410

210

5,351

91

Total net
assets683

77,505

(14)

(99)

668

77,405

Changes during the period
Cash dividends(1,263)

Net income attributable toowners of parent

896

Purchase of treasury stock(0)

Disposal of treasury stock

1

Disposal of treasury stock tostock benefit trust
Net changes of items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–
(53)

(156)

1,955

(123)

1,621

–

2

1,624

(53)

(156)

1,955

(123)

1,621

–

2

1,258

4,815

(295)

2,365

87

6,973

91

671

78,66410

Year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(Millions of Yen)
Shareholders’ equity
Share capital
Balance at beginning of period

7,831

Capital surplus Retained earnings
12,836

Treasury shares

55,511

Total shareholders’equity(5,250)70,927

Changes during period
Cash dividends(1,601)(1,601)

Net income attributable toowners of parent

1,295

1,295

Purchase of treasury stock

(0)

(0)

Disposal of treasury stock–

Disposal of treasury stock tostock benefit trust
Change in ownership interestof parent due to transactions
with non-controlling interests
Net changes of items otherthan shareholders’ equity
Total changes during period
Balance at end of period

3

3

171

171

–

171

(305)

3

(131)

7,831

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

Accumulated other comprehensive income
NonValuation
Foreign
Total accumulated ShareDeferredRemeasurements
acquisition controlling
difference on
currency
othergains or losses
of definedrightsinterests
available-fortranslation
comprehensive
on hedges
benefit planssale securities
adjustment
incomeBalance at beginning of period

4,815

(295)

2,365

87

6,973

91

671

Total net
assets78,664

Changes during period
Cash dividends(1,601)

Net income attributable toowners of parent

1,295

Purchase of treasury stock(0)

Disposal of treasury stock–

Disposal of treasury stock tostock benefit trust
Change in ownership interestof parent due to transactions
with non-controlling interests
Net changes of items otherthan shareholders’ equity

3
171
(821)

122

1,098

(218)

181

–

(671)

(489)

Total changes during period

(821)

122

1,098

(218)

181

–

(671)

(620)

Balance at end of period

3,994

(173)

3,463

(130)

7,155

91

–

78,04311

(4) Consolidated Statements of Cash Flows(Millions of Yen)
Year ended March 31, 2022
Cash flows from operating activities
Income before income taxes
Depreciation
Loss on impairment
Loss (gain) on sale of fixed assets
Loss on disposal of fixed assets
Loss (gain) on sale of investment securities
Loss (gain) on liquidation of subsidiaries
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors(and other officers)
Increase (decrease) in provision for product warranties
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Increase (decrease) in provision for share awards
Increase (decrease) in provision for loss on orders received
Interest and dividend income
Interest expenses
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 paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Payments for finance lease obligations
Proceeds from sale of treasury stock
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
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 period

12Year ended March 31, 2023

1,753
1,833
492
(10)
56
(6)
–
14
(80)

1,964
1,847
–
(6)
14
(146)
(113)
745
(67)

(14)

(8)

3
57
(30)
29
85
(238)
18
7,137
(2,542)
455
(8)
(245)
(1,321)
7,439
237
(19)
(1,752)
5,905

89
(13)
(32)
138
(46)
(395)
8
(1,284)(3,310)
(240)
193
125
(434)
(974)
392
(10)
(537)
(1,129)(1,682)
8
(511)
(659)
9
(66)
71

(1,914)
718
(459)
(99)
367
(342)
345

–

(500)

1
(2,828)–(1,884)

(261)
(4)
1
(0)
(1,263)(5)(1,533)
1,786
3,330
31,70035,030

(563)
(2)
3
(0)
(1,601)(2)(2,166)659(4,521)35,03030,508(5)Notes to the Consolidated Financial Statements(Notes to Going Concern Assumption)
None(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 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 noeffect on the consolidated financial statements.

13

(Segment Information)[Segment Information]
1. Overview of Reportable Segments
The Company’s reportable segments are components for which discrete financial information is available and whose
operating results are regularly reviewed by management to make decisions about resource allocation and to assess
performance.
The Company and its subsidiaries (the “Group”) operate within a single business related to the manufacture and sale ofpress machines and their ancillary facilities and auxiliary business such as services. The Company plays a key role in its
business in Japan. As for business overseas, local subsidiaries operate business respectively in China, Asia (mainly
Singapore and Malaysia), Americas (mainly U.S.A.), and Europe (mainly Italy). Local subsidiaries each constitute an
independent business entity, and operate business by planning their own comprehensive strategies for products in eacharea.
Accordingly, the Group consists of geographic segments based on a structure operating manufacturing, sales, and service.
Reportable segments are categorized into “Japan,” “China,” “Asia,” “Americas,” and “Europe.”
2. Basis for calculating sales, income or loss, assets, and other items by reportable segment
The accounting method used for reporting regional segments is mostly the same as the one used for preparing consolidated
financial statements.
Operating income or loss is used as reportable segment income or loss. Inter-segment transactions are inter-company
transactions and mainly based on market prices.
3. Information regarding amounts of sales, income or loss, assets, other items, and disaggregation of revenue byreportable segment
Year ended March 31, 2022
(Millions of Yen)

Sales
(1) Sales to third parties
a. Press Machinesb. Service
c. Others
Subtotal(2) Inter-segment sales

Consolidated
financialstatements
(*2)

Japan

China

Asia

Americas

EuropeSubtotal

Adjustments(*1)

14,388

6,851

2,633

10,9979,573

44,443–44,443

5,545

1,591

1,528

2,640

2,558

13,865–

13,865

4,034

55

13

–

53

4,156

–

4,156

23,968

8,498

4,175

13,63812,18562,466–

62,466

14,219

353

3,470

231

472

18,747(18,747)–

38,188
8,851
7,646
13,86912,65881,213(18,747)
62,466
Total sales
802
741
745
269
110
2,670
(164)
2,505
Segment income
82,809 12,796
11,705
10,355
13,096 130,763(16,829)
113,933
Segment assets
Others
999
200
280
176
178
1,835
(1)
1,833
Depreciation
Increase in property,
plant, equipment and
1,153
55
512
66
52
1,839
–
1,839
intangible assets
Notes: 1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment income refer to inter-segment transaction eliminations.
Adjustments of segment assets mainly represent elimination of inter-segment receivables and payables.
Adjustments of depreciation and increase in property, plant, equipment and intangible assets mainly
represent elimination of inter-segment transactions.
2. Segment income is adjusted to operating income of the consolidated statements of income.

14

Year ended March 31, 2023

Sales
(1) Sales to third parties
a. Press Machinesb. Service
c. Others
Subtotal(2) Inter-segment sales(Millions of Yen)
Consolidated
Adjustments
financial(*1)
statements
(*2)

Japan

China

Asia

Americas

EuropeSubtotal

14,909

9,190

4,265

12,814

8,296

49,476–49,476

5,383

1,388

1,973

3,529

3,095

15,370–15,370

3,866

20

27

1

32

3,948

–

3,948

24,16010,5996,265

16,345

11,424

68,795–68,795

17,487

422

4,410

446

1,440

24,207(24,207)–41,648 11,021
10,676
16,792
12,86493,003(24,207)
68,795
Total sales
455
(149)
909
286
227
1,729
(189)
1,540
Segment income (loss)
83,898 14,684
12,48912,144
16,223 139,441(23,153)
116,287
Segment assets
Others
1,118
126
211
193
197
1,846
0
1,847
Depreciation
Increase in property,
plant, equipment and
1,938
65
587
62
148
2,801
–
2,801
intangible assets
Notes: 1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment income (loss) refer to inter-segment transaction eliminations.
Adjustments of segment assets mainly represent elimination of inter-segment receivables and payables.
Adjustments of depreciation and increase in property, plant, equipment and intangible assets mainly
represent elimination of inter-segment transactions.
2. Segment income (loss) is adjusted to operating income of the consolidated statements of income.

15

(Per Share Information)
Net assets per share, net income per share and diluted net income per share, and the basis for calculation are as follows:Year ended March
31, 2022(Yen)
Year ended
March 31, 2023

Net assets per share

1,304.89

1,305.47

Net income per share

15.02

21.70

14.99

21.67

Item

Diluted net income per share(Notes) 1. Basis for calculation of net assets per share
Item
Total net assets in the consolidated balance sheets (Millions of Yen)

As of March 31,
2022
78,664

Net assets relating to common stock (Millions of Yen)
77,901Main components of the difference
Share acquisition rights (Millions of Yen)
91
Non-controlling interests (Millions of Yen)
671
Number of shares outstanding of common stock (Thousands of Shares)
69,448
Number of treasury shares of common stock (Thousands of Shares)
9,748
Number of shares of common stock used to calculate net assets per share
59,699(Thousands of Shares)
2. Basis for calculation of net income per share and diluted net income per share
Year ended March
Item
31, 2022
Net income attributable to owners of parent in the consolidated statements896
of income (Millions of Yen)
Net income attributable to owners of parent relating to common stock
896(Millions of Yen)
Amount not attributable to common shareholders (Millions of Yen)–
Average number of shares of common stock outstanding during the period
59,695(Thousands of Shares)
Main components of adjustments to net income attributable to owners ofparent used in the calculation of diluted net income per share (Millions of–Yen)
Adjustments to net income attributable to owners of parent (Millions of–Yen)
Share acquisition
Main components of the increase in number of shares of common stockrightsused in the calculation of diluted net income per share (Thousands ofCommon stock
Shares)94
94
Increase in number of shares of common stock (Thousands of Shares)
Overview of potential shares not included in the calculation of diluted net
income per share as they are non-dilutive (Thousands of Shares)

Share acquisitionrightsCommon stock

As of March 31,
2023
78,043
77,951
91–
69,4489,736
59,711
Year ended
March 31, 2023
1,295
1,295
–
59,703––
Share acquisitionrightsCommon stock81
81

Share acquisitionrightsCommon stocks

10
20
3. “Number of treasury shares of common stock” in “1. Basis for calculation of net assets per share” excludes theCompany’s shares (4,348,700 shares as of the end of the previous fiscal year and 4,335,948 shares as of the end of
the fiscal year under review) held by Custody Bank of Japan, Ltd. (Trust Account E) as they are accounted for astreasury shares.
4. “Average number of shares of common stock outstanding during the period” in “2. Basis for calculation of net
income per share and diluted net income per share” excludes the Company’s shares (average number of outstanding
shares of 3,538,746 shares for the previous fiscal year and 4,344,746 shares for the fiscal year under review) heldby Custody Bank of Japan, Ltd. (Trust Account E) as they are accounted for as treasury shares.

16

(Significant Subsequent Events)
None

4. Supplementary Information(1) Status of Orders
Year ended March 31, 2023

(Millions of Yen)

OrdersAmountOrder backlog

Comparison with theprevious period (%)

AmountComparison with the endof previous year (%)

Japan

29,065

0.6

23,718

26.1

China

17,12431.1

17,512

59.4

Asia

7,340

11.5

5,306

25.4

Americas16,309(6.5)

10,688(0.3)

Europe14,15414.4

13,117

26.3

Total

83,994

7.2

70,343

27.6

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

(2) Changes in Officers
1) Changes in representative
None2) Changes in other officers
Candidate for new director
Director (Outside Director) Kiyoe Kado (Current position: Visiting Attorney, Shimada Hamba & Osajima)
Note: The above change is scheduled to be formally determined at the 88th Ordinary General Meeting of Shareholders
to be held on June 27, 2023.

17