Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Six Months Ended April 30, 2020
(Based on Japanese GAAP)
June 4, 2020
Company name:

SENSHU ELECTRIC CO.,LTD.

Stock exchange listing: Tokyo
Stock code:
9824

URL

https://www.senden.co.jp/

Representative:

Representative Director,President
Senior Managing Director & Executive

Motohide NishimuraInquiries:

Officer & General Manager ofAdministration Division

Kazuto Narita

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

June 11, 2020
July 3, 2020

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
NoTEL

06-6384-1101(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended April 30, 2020 (from November 1, 2019 to April 30, 2020)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Six months ended April 30, 2020
38,399(9.4)
1,804 (16.1)
1,911 (15.5)
1,320 (13.1)
Six months ended April 30, 2019
42,404
3.6
2,150
18.0
2,263
16.4
1,520
13.4
Earnings per share

Diluted earnings per shareYen
137.86153.93Six months ended April 30, 2020
Six months ended April 30, 2019

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
66,856
68,589As of April 30, 2020
As of October 31, 2019

Equity ratio

Millions of yen
40,19039,749

%
59.9
57.7

2. Cash dividends
Annual dividends per share

Year ended October 31, 2019Year ending October 31, 2020

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
35.00
35.00

Yen–

Yen
35.00

Yen
70.00

–

35.00

70.00

Year ending October 31, 2020 (Forecast)Total

3. Forecast of consolidated financial results for the year ending October 31, 2020 (from November 1, 2019 to October 31, 2020)

Net sales

Full year

Millions of yen
76,100Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen
(9.1)
3,510 (11.8)
3,700 (12.0)
2,460(9.4)
262.431

4. Notes(1) Changes in significant subsidiaries during the six months ended April 30, 2020(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of April 30, 2020

10,800,000 shares As of October 31, 2019

10,800,000 shares

Number of treasury shares at the end of the period
As of April 30, 2020

1,255,968 shares As of October 31, 2019

1,127,181 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended April 30, 2020

9,580,301 shares Six months ended April 30, 20192

9,878,731 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of October 31, 2019

As of April 30, 2020

AssetsCurrent assets
Cash and deposits

15,97217,323

Notes and accounts receivable - trade
Electronically recorded monetary claims - operating

18,0706,137

15,453
5,806

Merchandise
Other

4,128
226

4,186
260

(22)

(14)

44,51243,015

6,825

6,713

500
10,550460
10,605

87
89

72
78

18,052

17,929

41

Other

170

144

Total intangible assets

175

146

Investment securities
Long-term loans receivable

1,326
46

1,231
39

Deferred tax assets
Other,net

882
4,016

822
4,095

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, netMachinery, equipment and vehicles, net
Land
Leased assets, net
Other, net
Total property, plant and equipment
Intangible assets
Goodwill

Investments and other assets

Allowance for doubtful accounts

(421)

(424)

Total investments and other assets

5,849

5,765

24,077

23,841

68,58966,856

Total non-current assets
Total assets3

(Millions of yen)
As of October 31, 2019

As of April 30, 2020

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings

23,537
105

21,631
105

Lease obligations
Income taxes payable

45736

37564

Provision for bonuses
Other

628
996

580
1,038

Total current liabilities

26,04923,959Non-current liabilities
Lease obligations

6346

Deferred tax liabilities
Retirement benefit liability

98
1,946

97
1,979

Asset retirement obligations
Other

6675

6577

Total non-current liabilities

2,790

2,707

28,84026,666

Shareholders' equity
Share capital

2,575

2,575

Capital surplus
Retained earnings

3,386
35,4673,397
36,449Total liabilities
Net assets

Treasury shares(2,270)(2,731)

Total shareholders' equity

39,15839,690

431
60363
16

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans

(42)

(26)

Total accumulated other comprehensive income

449

352

140

146

39,74940,19068,58966,856

Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Six months endedApril 30, 2019

Six months endedApril 30, 2020

Net sales

42,40438,399

Cost of sales

35,73532,010Gross profit

6,668

6,388

627
(32)

625
(5)

1,434
422

1,418
415

604

573

Selling, general and administrative expenses
Freight and packing costs
Provision of allowance for doubtful accounts
Salaries and bonuses
Welfare expenses
Provision for bonuses
Provision for retirement benefits for directors (and otherofficers)
Retirement benefit expenses

8–

146

149

Travel, transportation and communication expenses
Depreciation

160
202

138
265

Amortization of goodwill
Other2940

2999

4,518

4,584

2,150

1,804

Interest income
Dividend income

415

3
14

Rental income from buildings
Purchase discounts

60
2460
24

Foreign exchange gains
Other

270

254

Total non-operating income

179

160

Total selling, general and administrative expenses
Operating profit
Non-operating income

Non-operating expenses
Interest expenses

01

Depreciation
Guarantee commission

27
326
3

Loss on redemption of investment securities
Other

1320–
22

Total non-operating expenses

66

52

2,263

1,911

Ordinary profit
Extraordinary income
Gain on sales of non-current assets

6–

Gain on reversal of foreign currency translation adjustment–

47

Total extraordinary income

647

5

(Millions of yen)Six months endedApril 30, 2019

Six months endedApril 30, 2020

Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities

57––
7

Total extraordinary losses

57

7

2,212

1,951

687

516

Income taxes - deferred(13)107Total income taxes

673

623

1,539

1,327

18

6

1,520

1,320

Profit before income taxes
Income taxes - current

ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

6

Consolidated statements of comprehensive income (cumulative)(Millions of yen)Six months endedApril 30, 2019
ProfitSix months endedApril 30, 2020
1,539

1,327

Other comprehensive income
Valuation difference on available-for-sale securities

(21)

(68)

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

24
16(45)
15

Total other comprehensive income
Comprehensive income20(97)

1,559

1,229

1,535

1,223

245

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests7