Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Nine Months Ended September 30, 2022
[Japanese GAAP]
October 26, 2022
Company name: SEIKO ELECTRIC CO., LTD.
Stock exchange listing: Tokyo,Fukuoka
Code number: 6653
URL: https://www.seiko-denki.co.jp/
Representative: Hidetoshi Soeda

President and Representative Director
Managing Director, General Manager of Corporate Planning andDevelopment Division

Contact: Tsutomu Tanaka

Phone: 092-473-8831
Scheduled date of filing quarterly securities report: November 04, 2022
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Nine Months Ended September 30, 2022 (January 01, 2022 to September 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Nine months ended
September 30, 2022
17,851
7.2
814
(5.5)
962
5.8
599
6.4
September 30, 2021
16,651
7.2
861
22.3
909
28.4
563
(0.4)
(Note) Comprehensive income:Nine months ended September 30, 2022: ¥317 million [(53.6) %]Nine months ended September 30, 2021: ¥683 million [29.1%]
Basic earnings
per share
Nine months ended
September 30, 2022September 30, 2021

Diluted earnings pershare
Yen

Yen

49.41
46.48

-

(2) Consolidated Financial Position
Total assets
Million yen
As ofSeptember 30, 2022
25,824
December 31, 2021
25,793(Reference) Equity: As of September 30, 2022:
As of December 31, 2021:

Net assets

Capital adequacy ratio

Million yen¥¥

10,85910,94010,859 million
10,940 million

%

42.0
42.4

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended December 31, 2021-

10.00-20.00

30.00

Fiscal year ending December 31, 2022

-15.00

15.00

30.00

Year-end

Fiscal year ending December 31, 2022
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
No(Note) Breakdown of the 3rd quarter dividend for the fiscal year ending December 31, 2022 :Commemorative dividend
5.00 yen
Special dividend
- yen

Total

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2022(January 01, 2022 to December 31, 2022)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share%

Million yen%

Million yen%

Yen

Full year
26,0005.7
1,500
6.7(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

1,670
Yes

8.4

1,100

4.2

90.68

* Notes:(1) Changes in significant subsidiaries during the nine months ended September 30, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):
NoNew(Company name:
Exclusion:(Company name:(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
September 30, 2022:
12,603,595 shares
December 31, 2021:
12,603,595 shares2) Total number of treasury shares at the end of the period:
September 30, 2022:
462,384 shares
December 31, 2021:
483,903 shares
3) Average number of shares during the period:
Nine months ended September 30, 2022:
Nine months ended September 30, 2021:

12,130,452 shares
12,114,179 shares))
NoQuarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of December 31,2021
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Notes and accounts receivable - trade, and contract
assetsMerchandise and finished goods
Work in process
Raw materials
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
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 loss on construction contracts
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

As of September 30,2022

1,853
12,1552,308--

12,017

753
1,621
320
252
(13)
16,945

522
1,748
440
455
(13)
17,479

4,038
1,360
5,399
174

3,929
1,343
5,273
201

3,142
140
(8)
3,274
8,848
25,793

2,738
140
(8)
2,869
8,344
25,824

4,459
1,243
2,475
321
34
2,71811,252

3,675
1,035
3,910
204
711
6
2,132
11,676

1,237
1,961
401
3,600
14,853

1,066
1,943
278
3,288
14,965

(Million yen)
As of December 31,2021
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

As of September 30,2022

2,607
1,958
5,570
(225)
9,910

2,607
1,974
5,745
(215)
10,111

1,204

897

(87)
(86)
1,029
10,94025,793

(80)
(69)
747
10,85925,824

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the nine months)(Million yen)
For the nine months
ended September 30,2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Subsidy income
Gain on sale of investment securities
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Guarantee commission
Other
Total non-operating expenses
Ordinary profit
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

For the nine months
ended September 30,2022

16,651
13,640
3,010
2,149
861

17,851
14,795
3,056
2,241
814

0
41
40
83

0
43
38
64
42
189

19
7835
909
909
346
0346
563
563

24
7841962
962
339
23363
599
599

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Million yen)
For the nine months
ended September 30,2021
ProfitOther 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 toComprehensive income attributable to owners ofparent

For the nine months
ended September 30,2022

563

599

101
99120
683

(306)
717(282)317

683

317