Canon Electronics Inc.
Annual Report 2023(Unaudited)
Consolidated Financial Highlights
Millions of yen（Amounts less than one million yen are truncated）
FY2022
FY2023(from January 1, 2022
(from January 1, 2023
to December 31, 2022)
to December 31, 2023)
Net sales
Component

57,02955,934

Electronic Information Appliance

29,14528,419Other

10,331

11,968

Total

96,50696,321

Profit attributable to owners of parent

6,920

6,566

FY2022(from January 1, 2022
to December 31, 2022)

FY2023(from January 1, 2023
to December 31, 2023)

Basic earnings per share169.34yen

160.62yen

Diluted earnings per share――

Millions of yen（Amounts less than one million yen are truncated）
As of December 31, 2022

As of December 31, 2023

Total assets

137,493

131,145

Net assets

111,296

113,845―1―

Consolidated Balance Sheets
Millions of yen（Amounts less than one million yen are truncated）
As of December 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets
Investments in leases
Merchandise and finished goods
Work in process
Raw materials and supplies
Short-term loans receivable
Other
Total current assets

As of December 31, 2023

24,76427,317161
2,759
11,747191
20,0001,951
88,89327,48323,862160
1,870
11,715206
22,000967
88,26639,783(24,885)
14,89737,317(25,685)
11,632

Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net

23,773(21,473)
2,300

24,023(21,947)
2,075

Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land20,199(16,138)
4,060
18,60019,119(15,724)
3,395
15,313

Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets

655
(25)
630
644
41,134
1,634

24(7)
17669
33,104
1,433

Investments and other assets
Investment securities
Shares of subsidiaries and associates
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

2,091
916
2,138
684
(0)
5,830
48,599137,493

2,481
937
365
3,745
810
(0)
8,340
42,878131,145

Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net―2―

Consolidated Balance Sheets
Millions of yen（Amounts less than one million yen are truncated）
As of December 31, 2022
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Lease liabilities
Accrued expenses
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Provision for loss on orders received
OtherTotal current liabilities

As of December 31, 2023

12,013
748
148
1,301
2,036
420
84
472
3,072
20,298

9,660
741
65
1,369
1,129
419
80
18
2,045
15,531

300
3,200
684
37
200
1,475
0
5,898
26,196

107
50
181
1,428
0
1,768
17,299Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity

4,969
10,60993,167(2,482)
106,263

4,969
10,60997,283(2,459)110,403

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustmentRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

356
1,938(924)
1,370
3,662
111,296
137,493

643
2,662
(15)
3,289
153
113,845
131,145

Non-current liabilities
Bonds payable
Long-term borrowings
Lease liabilities
Deferred tax liabilities
Provision for retirement benefits for directors (and other officers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities―3―

Consolidated Statements of Income
Millions of yen（Amounts less than one million yen are truncated）
FY2022(from January 1, 2022
to December 31, 2022)

FY2023(from January 1, 2023
to December 31, 2023)

Net sales
Cost of sales

96,50675,79596,32175,844Gross profit

20,711

20,476

Selling, general and administrative expenses

12,665

11,333Operating profit

8,046

9,142

Interest and dividend income

112134

Subsidy income

27652

Foreign exchange gains
Other751
36

379
71

Total non-operating income

928

1,237

Non-operating income

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Share issuance costs
Other
Total non-operating expenses

3324-

1,357

1253552

1,417

8,922

8,963

Gain on sale of non-current assets
Gain on sale of golf club membership

0-

77
2

Total extraordinary income

079

36
718-

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on sale and retirement of non-current assets
Loss on valuation of golf club membership

43

18

Profit before income taxes

Total extraordinary losses

8,878

9,024

Income taxes - current
Income taxes - deferred3,265
237

2,994
49

Total income taxes

3,502

3,043

Profit

5,376

5,980

Loss attributable to non-controlling interests(1,544)(585)

Profit attributable to owners of parent

6,920

6,566

―4―

Consolidated Statements of Comprehensive Income
Millions of yen（Amounts less than one million yen are truncated）
FY2022(from January 1, 2022
to December 31, 2022)
ProfitFY2023(from January 1, 2023
to December 31, 2023)

5,376

5,980

37286

1,207

723

307

908

1,552

1,918

6,928

7,899

Comprehensive income attributable to owners of parent8,472

8,484

Comprehensive income attributable to non-controlling interests(1,544)(585)

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to―5―

Consolidated Statements of Shareholders' Equity
FY2022 (from January 1, 2022 to December 31, 2022)

Millions of yen（Amounts less than one million yen are truncated）
Shareholders' Equity
Capitalstock
Balance at beginning of periodCapitalsurplus

4,969

Retainedearnings

9,435

Total
shareholders'equityTreasuryshares

88,497(2,503)

100,399

Changes during period
Dividends of surplus(2,247)(2,247)

Profit attributable to owners of parent

6,920

6,920

Purchase of treasury shares
Disposal of treasury shares(2)

Transfer from retained earnings to capital surplus

2(0)

(0)

2118―

(2)

1,173

Capital increase of consolidated subsidiaries

1,173
―

Net changes in items other than shareholders' equity
Total changes during period
Balance at end of period

―

1,173

4,669

20

5,864

4,969

10,60993,167(2,482)

106,263

Accumulated other comprehensive income

Valuationdifference on
available-forsale securities

Balance at beginning of period319

Foreigncurrencytranslation
adjustment

Total
Remeasurem
accumulated
ents ofother
definedcomprehensiv
benefit planse income

730(1,231)(181)

Noncontrollinginterests

2,680

Total
net assets

102,898

Changes during period
Dividends of surplus―(2,247)

Profit attributable to owners of parent

―

6,920

Purchase of treasury shares―(0)

Disposal of treasury shares―

18Transfer from retained earnings to capital surplus――

Capital increase of consolidated subsidiaries

―

1,173

Net changes in items other than shareholders' equity
Total changes during period
Balance at end of period

37

1,207

307

1,552

981

2,533

37

1,207

307

1,552

981

8,398

356

1,938(924)

1,370

3,662

111,296―6―

Consolidated Statements of Shareholders' Equity
FY2023 (from January 1, 2023 to December 31, 2023)

Millions of yen（Amounts less than one million yen are truncated）
Shareholders' Equity
Capitalstock
Balance at beginning of period

Capitalsurplus

4,969

Retainedearnings

10,609Total
shareholders'equity

Treasuryshares

93,167(2,482)

106,263

Changes during period
Dividends of surplus(2,452)(2,452)

Profit attributable to owners of parent

6,566

6,566

Purchase of treasury shares
Disposal of treasury shares(0)

Transfer from retained earnings to capital surplus

0

Change in scope of consolidation

(0)

(0)

2423

(0)

―

33―

Net changes in items other than shareholders' equity
Total changes during period
Balance at end of period

―

―

4,115

23

4,139

4,969

10,60997,283(2,459)110,403

Accumulated other comprehensive income

Valuationdifference on
available-forsale securities

Balance at beginning of period

356

Foreigncurrencytranslation
adjustment

Total
Non-controlling
Remeasureme
accumulated
interests
nts ofother
defined benefit
comprehensive
plansincome

1,938

(924)

1,370

3,662

Total
net assets

111,296

Changes during period
Dividends of surplus―(2,452)

Profit attributable to owners of parent

―

6,566

Purchase of treasury shares―(0)

Disposal of treasury shares―

23

Transfer from retained earnings to capital surplus――

Change in scope of consolidation―

3Net changes in items other than shareholders' equity
Total changes during period
Balance at end of period

286

723

908

1,918

(3,509)(1,590)

286

723

908

1,918

(3,509)

2,548

643

2,662

(15)

3,289

153

113,845―7―

Consolidated Statements of Cash Flows
Millions of yen（Amounts less than one million yen are truncated）
FY2022
FY2023(from January 1, 2022
(from January 1, 2023
to December 31, 2022) to December 31, 2023)
Cash flows from operating activities
Profit before income taxes
Depreciation
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
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using equity method
Loss (gain) on sale and retirement of property, plant and equipment
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
Subtotal

8,878
3,653
(19)
20457
572
(2,138)(112)
33
36(3,253)(3,076)
345
1,923
7,322

9,024
3,273
3(4)
176
301
(1,607)
(134)
24
1,357
(58)
3,761
(891)
(2,494)
1,089
13,821

Interest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities

110
(33)
(3,235)
4,163

163
(24)
(3,760)
10,200Cash 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
Loan advances
Proceeds from collection of loans receivable
Other, net
Net cash provided by (used in) investing activities(5,002)10(332)(2)(3,000)3,000(164)(5,490)(3,172)
338
(167)
(11)
(5,000)5,000(295)(3,307)

Cash flows from financing activities
Proceeds from issuance of bonds
Dividends paid
Proceeds from share issuance to non-controlling shareholders
Repayments of lease liabilities
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

300(2,248)
3,700
(51)
20
1,720
744

(2,456)(27)
23(2,460)
229

Net increase (decrease) in cash and cash equivalents

1,138

4,661

Cash and cash equivalents at beginning of period

22,20623,344

Increase (decrease) in cash and cash equivalents resulting from change in scope of consolidation
Cash and cash equivalents at end of period―8―-(822)

23,344

27,183