February 1, 2022
Company name: Osaki Electric Co., Ltd.
Representative: Chairman and CEO
Yoshihide Watanabe(Code: 6644, TSE 1st Section)
Contact: Director and Managing Executive Officer
Head of Corporate Strategy Division
Ryuichi Ueno

Notice Concerning Revision of Full Year Financial Results Forecasts
Osaki Electric Co., Ltd. (Tokyo, hereinafter “Osaki” or “the Company”), hereby announces the consolidated
financial forecasts for the fiscal year ending March 31, 2022 (hereafter “fiscal year 2021”). The Company
forewent the previous forecasts on November 2, 2021 (please refer to “Notice Concerning Difference between
First Half Forecasts and Actual Financial Results, and Revision of Full Year Financial Results Forecasts”).
The Company also announces non-consolidated financial forecasts for fiscal year 2021.
Notes
1．Revision of consolidated financial results forecasts for the fiscal year 2021
(from April 1, 2021 to March 31, 2022)
Net Income

Net Income
Operating

Net Sales

Ordinary Income

Income(Million yen)

(Million yen)

(Million yen)

Attributable toOwners ofper Share(Million yen)―――

Revised Forecasts (B)75,000700600

Owners ofParent

ParentPrevious Forecasts (A)Attributable to(Yen)―(900)

Change (B-A)――――

Rate of Change (%)

―

――

―

2,684

2,888

―
(18.33)(Reference) Results of theprevious fiscal year ended

76,255482

9.84

March 31, 2021

Reason for Revision
Osaki announced its decision to forego the previous consolidated financial forecasts for fiscal year 2021 on
November 2, 2021, because of the difficulty to reasonably accumulate the degree of financial impact broughtby electronic component shortages used in smart meters. The Company today, announces the revisions madeto the financial forecasts upon reasonable calculation based on information available at the moment.
Osaki expects that the worldwide shortage of electronic component used in smart meters will prolong into
the fourth quarter of fiscal year 2021, affecting our worldwide businesses. In Japan, sales of energy
management system and smart locks for rental properties are expected to remain sluggish due to impact
1

from the spread of COVID-19 virus. In addition, rise of component prices worldwide is expected to lower ourprofitability. With regards to recording of an extraordinary gain from sale of a subsidiary in the amount of
1.68 billion yen, which was included in the initial forecasts, the Company expects to record the profit in thenext fiscal year.
Under these circumstances, consolidated sales and profits for fiscal year 2021 are expected to be lower
than the initial forecasts announced on May 11, 2021 as shown in the table below.

（Reference）Differences between Initial Forecasts and Revised Forecasts for the fiscal year 2021
Net Income
Net Sales(Million yen)

Operating

Ordinary

IncomeIncome(Million yen)

(Million yen)

Net Income

Attributable

Attributable toto OwnersOwners of Parentof Parent(Million yen)

per Share(Yen)

Initial Forecast (Announced

83,000

3,500

3,300

3,000

61.16

Revised Forecasts (B)75,000700600(900)(18.33)

Change (B-A)(8,000)(2,800)(2,700)(3,900)(9.6)(80.0)(81.8)－on May 11, 2021) (A)Rate of Change (%)

The Company is taking rigorous measures to improve profitability by strengthening business portfolio
management to recover its financial performance in next fiscal year. Details of measures and strategies will
be announced in May, 2022, along with announcement of the fiscal year 2021 financial results and the Midterm Management Plan.

2．Concerning non-consolidated financial forecasts for the fiscal year 2021
Osaki has not disclosed non-consolidated financial forecasts for fiscal year 2021. However, since therevisions to the non-consolidated financial forecasts are significant, the Company has decided to disclosethe degree of revisions made to the non-consolidated financial forecasts for fiscal year 2021.
Non-consolidated financial results forecast for the fiscal year 2021
(from April 1, 2021 to March 31, 2022)
OperatingOrdinaryIncomeIncome(Million yen)

(Million yen)

25,610

333

1,093

747

15.24

Fiscal year 2021 forecasts (B)22,700(1,000)

(100)

(150)

(3.05)

Change (B-A)(2,910)(1,333)(1,193)(897)

Rate of Change (%)(11.4)－－－Net Sales(Million yen)
Results of the previous fiscalyear ended March 31, 2021 (A)Net Income(Million yen)

Net Income
per Share(Yen)・The forecast figures shown in this document are based on information available at the time of preparation
and actual figures may differ from the forecast figures due to various factors.

End of Notice2