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 Three Months Ended June 30, 2024
(Based on Japanese GAAP)
July 30, 2024
Company name:
MEIJI ELECTRIC INDUSTRIES CO.,LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

3388
URL https://www.meijidenki.co.jp/President and Representative Director
Hiroki Sugiwaki

Inquiries:
Director of Planning and Administration
Scheduled date to commence dividend payments:

Katsuhisa Naruse–Preparation of supplementary material on financial results:
Holding of financial results meeting:

NoNo

TEL

052-451-7661(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(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%
Three months ended June 30, 2024
15,148(3.9)
45 (86.2)
189 (63.3)
133 (63.4)
Three months ended June 30, 2023
15,76815.4
329 359.4
515 153.7
364 151.2
Earnings per share

Diluted earnings per share

Yen
10.46
28.77

Three months ended June 30, 2024
Three months ended June 30, 2023

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
48,54352,148

As of June 30, 2024
As of March 31, 2024

Equity ratio

Millions of yen
33,03233,063%67.4
62.9

2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
20.00

Yen–

Yen
38.00

Yen
58.00

30.00

–

30.00

60.00

Year ended March 31, 2024
Year ending March 31, 2025
Year ending March 31, 2025 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Net sales
Millions of yen
Six months ending
September 30, 2024
Full year

Percentages 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

37,400

10.1

1,400

27.2

1,530

12.3

1,140

18.2

89.96

78,500

5.3

3,250

11.5

3,490

4.7

2,510

3.5

198.061

4. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

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

NoNo

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 June 30, 2024

12,765,820 shares As of March 31, 2024

12,765,820 shares

Number of treasury shares at the end of the period
As of June 30, 2024

47,912 shares As of March 31, 2024

47,812 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

12,717,911 shares Three months ended June 30, 2023

212,651,349 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets

As of June 30, 2024

7,332,997
17,773,053
9,530,540
5,412,708
647,462
59,940771,968(116,530)
41,412,140

7,246,251
13,137,322
10,157,749
5,607,882
855,836
57,547
691,345(88,364)
37,665,570

Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets

4,211,565
699,330
5,825,319

4,283,586
582,498
6,011,688

Total non-current assets

10,736,214

10,877,772

52,148,355

48,543,343

8,858,5465,715,057
25,782591,330
579,771
3,575
2,199,006

6,040,915
6,002,315–
86,769263,658
22,863
1,864,896

17,973,069

14,281,418

1,075,101

1,113,632

3,550

–

Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Other
Total current liabilities
Non-current liabilities
Deferred tax liabilities
Provision for retirement benefits for directors (and otherofficers)
Other

32,733

116,285

1,111,385

1,229,917

Total liabilities

19,084,455

15,511,336

Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares

1,658,323
2,008,319
25,569,389(23,591)

1,658,323
2,008,319
25,219,156(23,591)

29,212,440

28,862,206

2,254,618–
510,581
800,846
3,566,047

2,370,761
706
724,970
772,4023,868,841

285,412300,958

33,063,899

33,032,006

52,148,355

48,543,343

Total non-current liabilities

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

3Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended

Three months ended

June 30, 2023

June 30, 2024

Net sales
Cost of sales

15,768,583
13,507,884

15,148,374
12,994,119

Gross profit

2,260,699

2,154,254

Selling, general and administrative expenses

1,931,052

2,108,836

329,646

45,417

Interest income
Dividend income

4,052
41,5384,546
55,513Purchase discounts
Foreign exchange gains

38,53995,83831,34849,358Operating profit
Non-operating income

Other

25,0805,087

Total non-operating income

205,049

145,854

Interest expenses
Loss on valuation of derivatives

5,086
10,489980
813

Other3,520

93

Non-operating expenses

Total non-operating expenses

19,096

1,887

515,599

189,384

Extraordinary income
Gain on sale of non-current assets

651

1,109

Total extraordinary income

651

1,109

040

040

Profit before income taxes

516,250

190,453

Income taxes

139,789

43,897

Profit376,461

146,555

Profit attributable to non-controlling interests

12,43813,505

Profit attributable to owners of parent

364,022

133,050

Ordinary profit

Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses

4Consolidated statements of comprehensive income (cumulative)(Thousands of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2023

June 30, 2024
376,461

146,555

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

327,783–

116,142706

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

56,452625

216,429(28,443)

Total other comprehensive income

384,860

304,835

761,321451,390

741,402435,844

19,91915,546Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

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