Consolidated Financial Results for the 2nd Quarter of Fiscal Year Ending March 31, 2024
(J-GAAP)
November 6, 2023
Company name: T.RAD Co., Ltd.
Listing: Tokyo Stock Exchange, Prime Market
Code No.:
7236
URL: http://www.trad.co.jp
Representative: Tomio Miyazaki, President & CEO & COO
Kaoru Kinoshita, Managing Executive Officer,
Contact:
Tel:+81-3-3373-1101
Finance & Accounting Dept.
Scheduled date of filing of 2nd quarter securities report:
November 7, 2023
Scheduled date of start of dividend payments:
November 30, 2023
Supplemental materials prepared for consolidated financial results: None
Briefing on consolidated financial results: Yes(Amounts less than one million yen have been truncated)

1. Consolidated Financial Performance for the 2nd Quarter of Fiscal Year Ending March 31, 2024
(April 1, 2023 to September 30, 2023)(1) Consolidated operating performance(Percentage figures indicate year-on-year change)
Net sales
Millions of yen

Operating income% Millions of yen

Ordinary income% Millions of yen

Six months ended
80,2258.4
2,125 158.6
2,617
September30, 2023
Six months ended
74,015
12.9
822
-75.9
1,929
September30, 2022
Note: Comprehensive income
Six months ended September 30, 2023: ¥ 3,363 million (-29.9%)
Six months ended September 30, 2022: ¥ 4,800 million ( 40.6%)
Net income per share
Diluted net income per share
Six months ended
September30, 2023
Six months ended
September30, 2022

Yen

Yen

176.41

―

46.88

―

(2) Consolidated financial position
Total assets

Net assets

Millions of yen

Profit attributable toowners of parent% Millions of yen
%

35.7

1,151

276.2

-44.6

306

-83.6

Equity ratio

Net assets per share

Millions of yen%

Yen

47,22344.4

6,957.09

43,85144.9

6,479.13

Dividends per Share
3Q
Yen
Yen

Year-end
Yen

Total

Six months ended
102,567
September30, 2023
Fiscal year ended
94,098March 31, 2023
Reference: Shareholders’ equity
As of September 30, 2023: ¥45,526 million
As of March 31, 2023 : ¥42,261 million

2. Dividends
1Q

2Q
Yen

Yen

Fiscal year ended March
80.00
0.00
80.00
―
―
31, 2023
Fiscal year ending
80.00―
March 31, 2024
Fiscal year ending March
80.00
160.00―31, 2024(Forecast)
Note: Revisions to the forecast of dividends since the latest official announcement: Yes
For revisions to dividend forecasts, please refer to “Notice on Revision of Interim and Year-End Dividend Forecasts for
Surplus Distribution” that we announced today (November 6, 2023).

1

3. Forecast of Consolidated Financial Performance for the Fiscal Year Ending March 31, 2024
(April 1, 2023 to March 31, 2024)(Percentage figures indicate changes from the same period of the previous year)

Net sales
Millions ofyen%Operating income

Ordinary income

Millions ofyenMillions of
yen

%

%

Profit attributable toowners of parent
Millions ofyenNetincome per
share

%

Yen

Fiscal year ending
160,000
7.1
3,000 185.6
3,800
82.4
1,200
183.38―March 31, 2024
Note: Revisions to forecast of consolidated financial performance since the latest official announcement: Yes
For revisions to forecasts of consolidated financial performance, please refer to “Notice on Differences between
Consolidated and Non-Consolidated Earnings Forecasts for the Second Quarter of the Cumulative Period and Actual
Results, and Revision of Full-Year Earnings Forecasts (Consolidated and Non-Consolidated), and Occurrence ofExtraordinary Losses (Non-Consolidated)” that we announced today (November 6, 2023).

4. Other(1) Changes in significant subsidiaries during the current quarter(changes in specific subsidiaries resulting in changes in the scope of consolidation): No(2) Adoption of specific accounting policies for quarterly consolidated financial statements: None
(3) Changes in accounting principles, estimation procedures or presentation methods
1) Changes associated with revision of accounting standards: None
2) Changes other than 1): None
3) Changes accounting estimation procedures: None
4) Changes in presentation methods: None
(4) Number of shares issued and outstanding (common stock)1) Number of shares issued and outstanding at end of period (including treasury stock)
As of September 30, 2023: 6,712,411 shares
As of March 31, 2023: 6,712,411 shares
2) Number of shares of treasury stock at end of period
As of September 30, 2023: 168,526 shares
As of March 31, 2023: 189,621 shares
3) Average number of shares outstanding during the period
Six months ended September 30, 2023: 6,528,829 shares
Six months ended September 30, 2022: 6,531,458 shares* The consolidated financial results presented herein are not subject to the audit procedures by certified public
accountant or audit firm.
* Explanations for proper use of forecasts and other specific affairs
Revisions to non-consolidated earnings forecasts for the first half and full year ending March 31, 2024, have been madeto the forecasts announced on August 7, 2023.
Revised full-year forecast
Net sales of 77,000 million yen, operating income of 1,200 million yen, ordinary income of 7,000 million yen, net
income of 2,000 million yen, and net income per share of 305.63 yen(Cautionary statement regarding forward-looking statements, etc.)
The forward-looking statements in this document are based on information currently available to the Company andcertain assumptions that the Company believes reasonable. They are not intended to be a promise by the Company toachieve such results. Actual results may differ materially due to various factors.

2

Table of Contents
1. Qualitative Information for the Second Quarter of Fiscal Year Ending March 31, 2024 ···························4(1) Consolidated financial performance ···················································································4(2) Consolidated financial position ························································································5(3) Future projections including forecasts of consolidated financial performance ···········································5
2. Quarterly Consolidated Financial Statements and main notes ··························································6(1) Quarterly consolidated balance sheets ················································································6(2) Quarterly consolidated statements of income andquarterly consolidated statement of comprehensive income···········································8(Quarterly consolidated statements of income) ····································································8(Quarterly consolidated statement of comprehensive income) ················································ 10(3) Quarterly consolidated statements of cash flows ·································································· 11(4) Notes to quarterly consolidated financial statements······························································ 13(Going concern assumptions) ························································································· 13(Notes in the event of significant changes in shareholders’ equity) ············································· 13(Additional information) ······························································································ 13(Segment information) ································································································· 14
3. Supplementary information
Sales states (consolidated) ···························································································· 16

3

1.

Qualitative Information for the Second Quarter of Fiscal Year Ending March 31, 2024

(1) Consolidated financial performance
The economic environment for the second quarter of the current consolidated cumulative period continues to be uncertain,
with no signs of improvement in the situation in Ukraine, slow progress in the improvement of the Chinese economy, andongoing global market uncertainty, delayed stabilization of rising prices and high energy costs amidst a weak yen.
Under the circumstances, the net sales of the T.RAD Group (on a foreign currency basis) increased from the same periodof the previous year except China region. Operating income increased from the same period of the previous year due to theincrease of net sales etc. The profit attributable to owner of parent increased from the same period of the previous year.
As a result, net sales during the consolidated cumulative second quarter increased by 6,209 million yen from the previous
fiscal year, amounting to 80,225 million yen (up 8.4% year on year), operating income increased by 1,303 million yen,amounting to 2,125 million yen (up 158.6% year on year), ordinary income increased by 688 million yen, amounting to 2,617
million yen (up 35.7% year on year) and profit attributable to owners of parent increased by 845 million yen, amounting to
1,151 million yen (up 276.2% year on year).
The book-closing date for the consolidated subsidiaries for the first six months of the fiscal year under review is June 30.
In preparing the consolidated financial statements, the financial statements as of, and for the six-month period ended on thisdate were used. With respect to material transactions conducted during the period between this date and the book-closing
date for consolidated accounting, we have made adjustments as necessary for consolidated accounting. The segments
relevant to such adjustments include the United States, Europe, Asia and China.
Domestic subsidiaries have the same settlement date that coincides with the last day of the consolidated fiscal year. The
corresponding segment is Other.
Net Sales
Operating Income (Loss)
Six months
Six months
ended
ended
September 30, September 30,
2022
2023

Japan
United States

EuropeAsia
China
Others(including
eliminations)

Increase/
Decrease

Percentage change(on a foreign
currency basis)*Six months
ended
September 30,
2022

Six months
ended
September 30,
2023

Increase/
Decrease

Percentage change(on a foreign
currency basis)*(%)(Millions of yen)

(Millions of yen)

(Millions of yen)(%)

(Millions of yen)

(Millions of yen)

(Millions of yen)

31,705
19,453
2,964
9,080
10,71334,542
21,324
3,140
10,931
10,136

2,837
1,871
175
1,851
-577

8.9
3.3
3.5
15.8
-4.4

542
(1,625)
(229)
1,238
870

917
(1,526)
29
1,756
872

375
99
259
518
1

69.2
－
－
35.1
2.4

99

150

51

51.9

25

75

50

199.5

Total
74,01580,225
6,209
6.3
822
2,125
1,303
189.1
*The percentage changes (on a foreign currency basis) in the chart are the percentage changes after correcting for differences
arising from fluctuations in the foreign exchange rates applicable to overseas net sales.
(i) Japan
Net sales of products for automobile industry and construction industrial machines were increased from the same periodof the previous year due to an increase in orders etc. As a result, the net sales in the Japan segment increased by 2,837 million
yen, resulting in 34,542 million yen.
Operating income increased by 375 million yen from the same period last year, reaching 917 million yen, due to thesuccessful transfer of increased materials, parts, and energy costs to sales prices.
(ii) United States
Net sales of products for automobile industry increased year on year due to the start of mass production of newly ordered
models and an increase in orders received etc. As a result, the net sales in the United States segment increased by 1,871
million yen from the same period of the previous year, resulting in 21,324 million yen. On a foreign currency basis, it
increased by 3.3%.
Operating income increased by 99 million yen year-on-year, resulting in operating loss of 1,526 million yen due to thedecrease of depreciation and amortization etc.

4

(iii) Europe
Net sales of products for automobile industry in the Czech Republic were increased from the same period of the previous
year due to the commencement of mass production of models for which orders were newly received etc. As a result, the net
sales in this segment increased by 175 million yen year-on-year to 3,140 million yen. On a foreign currency basis, it increasedby 3.5%.
Operating income increased by 259 million yen year on year to 29 million yen, partly due to the local government’s
electricity cost subsidy policy.
(iv) Asia
Net sales of products for automobile industry decreased in Vietnam due to economic downturns and other factors but haveincreased from the same period last year in Thailand and Indonesia due to an increase in orders. As a result, the net sales in the
Asia segment increased by 1,851 million yen from the same period of the previous year, resulting in 10,931 million yen. On a
foreign currency basis, it increased by 15.8%.
Operating income increased by 518 million yen from the same period of the previous year due to the increase of net sales
etc., resulting in 1,756 million yen. On a foreign currency basis, it increased by 35.1%.
(v) China
Net sales of products for construction industrial machines increased due to a rise in orders. However, automobile-related
sales have decreased from the same period last year due to a decline in orders resulting from a market downturn. As a result,the net sales in this segment decreased by 577 million yen from the same period of the previous year, to 10,136 million yen.
On a foreign currency basis, it decreased by 4.4%.
Operating income increased by 1 million yen from the same period of the previous year, partly due to the impact offoreign exchange rates etc., resulting in 872 million yen. On a foreign currency basis, it increased by 2.4%.
(2) Consolidated financial position
1) Assets, liabilities and net assets
Total assets at the end of current second quarter of the fiscal year under review resulted in 102,567 million yen (up 8,469
million yen from the end of the previous fiscal year) due to the increase of cash and deposits, tangible fixed assets andaccounts receivable-trade etc.
Total liabilities resulted in 55,343 million yen (up 5,096 million yen) due to the increase of accounts payable-trade andloans payable etc.
Net assets resulted in 47,223 million yen (up 3,372 million yen) due to the increase of foreign currency translation
adjustment and retained earnings etc.
2) Cash flows
The factors for increase or decrease of each cash flow in the current second quarter consolidated accumulative period are
as follows.
Net cash provided by operating activities was 8,198 million yen, an increase of 3,924 million yen year on year due to theincrease of profit before income taxes and increase of dividends income etc.
Net cash used in investing activities was 3,822 million yen, an increase of 63 million yen year on year due to the increaseof capital investment etc.
Free cash flow, the sum of net cash provided by operating activities and net cash used in investing activities, increased by
3,861 million yen year-on-year. The result was a cash inflow of 4,376 million yen.
Furthermore, net cash provided by financing activities was 999 million yen, an increase of 1,687 million yen year on year
due to the decrease of cash dividends paid and increase of interest-bearing liabilities etc.
As an above result, cash and cash equivalents at the end of the current second quarter of the fiscal year under review
totaled 16,468 million yen, an increase of 2,206 million yen from the end of the previous fiscal year.
(3) Future projections including forecasts of consolidated financial performance
We revised the forecasts of consolidated and non-consolidated financial performance and dividend forecasts released on
August 7, 2023.
For details, please refer to “Notice on Differences between Consolidated and Non-Consolidated Earnings Forecasts for theSecond Quarter of the Cumulative Period and Actual Results, and Revision of Full-Year Earnings Forecasts (Consolidated
and Non-Consolidated), and Occurrence of Extraordinary Losses (Non-Consolidated)” that we announced today (November
6, 2023).

5

2. Quarterly Consolidated Financial Statements and main notes(1) Quarterly consolidated balance sheets(Millions of yen)
FY2023_2Q

FY2022As of March 31, 2023

As of September 30, 2023

AmountAmount(Assets)
Current assets
10,225

Cash and deposits

17,114

Notes receivable-trade

772

720

Electronically recorded monetary claims-operating

2,760

3,098

Accounts receivable-trade25,52728,721

Short-term investment securities

489

99

Merchandise and finished goods

4,356

3,595

Work in process

795

880

Raw materials and supplies

10,718

9,405

Others

2,738

2,613

Allowance for doubtful accounts

(246)

(264)

Total current assets

58,13865,985

Noncurrent assets
Tangible fixed assets
Building and structures, net

6,662

6,709

Machinery, equipment and vehicles, net

13,783

13,918

Land

2,444

2,526

Lease assets, net

1,650

1,650

Construction in progress

2,729

3,469

Other tangible fixed assets, net

1,909

2,180

Total tangible fixed assets

29,17930,455

Others

2,153

2,561

Total intangible assets

2,153

2,561

Investment securities

2,967

1,791

Net defined benefit asset

895

924

Deferred tax assets

203

258

Others565

595Intangible assets

Investments and other assets

Allowance for doubtful accounts

(5)

(5)

Total investments and other assets

4,626

3,564

35,95936,582

94,098102,567

Total noncurrent assets
Total assets

6

(Millions of yen)
FY2023_2Q

FY2022As of March 31, 2023

As of September 30, 2023

AmountAmount(Liabilities)
Current liabilities
13,886

Notes and accounts payable-trade

14,927

Electronically recorded obligations – operating

4,613

5,750

Short-term loans payable

11,045

10,387410

448

Lease obligations
Income taxes payable

544

937

Accrued expenses

3,528

3,889

Provision for bonuses

1,355

1,336

Provision for directors’ bonuses

25

16

Provision for product warranties

661

562

Provision for loss on order received

209

237

Electronically recorded obligations - non-operating

715

800

Others961

1,014

37,95840,308Long-term loans payable

8,159

10,812

Lease obligations

2,831

2,854

Deferred tax liabilities

793

820

Net defined benefit liability

292

338

Provision for share awards

29

37

Asset retirement obligations

92

93

Others88

77

12,28815,03450,24655,343

Capital stock

8,570

8,570

Capital surplus

7,353

7,352

Retained earnings

22,10023,211

Treasury stock

(452)

(401)

Total shareholders’ equity

37,571

38,732

Total current liabilities
Noncurrent liabilities

Total noncurrent liabilities
Total liabilities(Net assets)
Shareholders’ equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

11

17

Foreign currency translation adjustment

3,700

5,830

Remeasurements of defined benefit plans

977

945

Total accumulated other comprehensive income

4,690

6,793

Non-controlling interests

1,589

1,697

Total net assets

43,85147,223

Total liabilities and net assets

94,098102,5677

(2) Quarterly consolidated statements of income and quarterly consolidated statement of comprehensive income(Quarterly consolidated statements of income)(Millions of yen)Six months ended
September 30, 2023

Six months ended
September 30, 2022
(Apr. 1, 2022–September 30, 2022)(Apr. 1, 2023–September 30, 2023)

AmountAmountNet sales

74,01580,225

Cost of sales

67,936

73,122Gross profit

6,079

7,103

Selling, general and administrative expenses
Packing and delivery expenses

803

757

Salaries and allowances

998

1,117

Provision for bonuses

411

364

Provision for directors’ bonuses

27

16

Retirement benefit expenses

35

18

Welfare expenses

747

681

Provision for product warranties

272

125

Provision of allowance for doubtful accounts－

3

Provision for share awards

585

533

Research and development expenses

20

7

Others

1,355

1,351

Total selling, general and administrative expenses

5,257

4,977

Operating income (loss)

822

2,125

Interest income

79

119

Dividends income

53Equity in earnings of affiliates

269

320

Foreign exchange gains

765

269

Others120

111

Total non-operating income

1,239

824

Interest expenses

115

329

Others16

3

Total non-operating expenses

132

332

Ordinary income (loss)

1,929

2,617

Non-operating income

Non-operating expenses

8

(Millions of yen)Six months ended
September 30, 2023

Six months ended
September 30, 2022
(Apr. 1, 2022–September 30, 2022)(Apr. 1, 2023–September 30, 2023)

AmountAmountExtraordinary income
Gain on sales of noncurrent assets

14

92

Total extraordinary income

1492

Extraordinary loss
Loss on sales of noncurrent assets

15

10Loss on retirement of noncurrent assets

31

24

Loss on reversal of foreign currency translation adjustment

401－

Total extraordinary loss

448

34

Income (loss) before income taxes

1,495

2,676

Income taxes-current

1,210

1,525

Income taxes-deferred

76

(3)

Total income taxes

1,286

1,521

Profit (loss)

208

1,154

Profit (loss) attributable to non-controlling interests

(97)

2

Profit (loss) attributable to owners of parent

306

1,151

9

(Quarterly consolidated statement of comprehensive income)(Millions of yen）
Six months ended
September 30, 2023

Six months ended
September 30, 2022

Profit (loss)(Apr. 1, 2022–September 30, 2022)(Apr. 1, 2023–September 30, 2023)

AmountAmount208

1,154

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

10

5

Foreign currency translation adjustment

4,318

2,000

Remeasurements of defined benefit plans, net of tax

(12)

(34)

274

237

Total other comprehensive income

4,591

2,208

Comprehensive income

4,800

3,363

Comprehensive income attributable to owners of the parent

4,483

3,255

Comprehensive income attributable to non-controlling interests

316

108

Share of other comprehensive income of associates accounted for using equity
method(Breakdown)

10(3) Quarterly consolidated statements of cash flows(Millions of yen)Six months ended
September 30, 2023

Six months ended
September 30, 2022
(Apr. 1, 2022–September 30, 2022)(Apr. 1, 2023–September 30, 2023)

AmountAmountNet cash provided by (used in) operating activities
Profit (loss) before income taxes

1,495

2,676

Depreciation and amortization

3,018

2,968

Retirement benefit expenses

(11)

(50)

Increase(decrease) in net defined benefit liability

19

(9)

Increase (decrease) in allowance for doubtful accounts

73

Increase (decrease) in provision for bonuses

66

(22)

Increase (decrease) in provision for directors' bonuses

(44)

(9)

Increase (decrease) in provision for product warranties

(106)

(136)

Loss on retirement of noncurrent assets

31

24

Loss(gain) on sales of tangible fixed assets

1

(82)

Interest and dividends income

(84)

(123)

Interest expenses

115

329

Foreign exchange losses (gains)

(139)

(154)

Equity in (earnings) losses of affiliates

(269)

(320)

Decrease(increase) in notes and accounts receivable-trade

1,601(2,507)

Decrease(increase) in inventories(1,525)

3,033

Increase(decrease) in notes and accounts payable-trade

835

1,471

Loss on reversal of foreign currency translation adjustment

401－

Decrease(increase) in other current assets

(455)

227

Increase (decrease) in other current liabilities

737

505

Other, net

60

21

Subtotal

5,755

7,844

84

1,808

Interest expenses paid

(108)

(314)

Income taxes paid

(1,457)(1,139)Net cash provided by (used in) operating activities

4,274

8,198

Interest and dividends income received

11

(Millions of yen)Six months ended
September 30, 2023

Six months ended
September 30, 2022
(Apr. 1, 2022–September 30, 2022)(Apr. 1, 2023–September 30, 2023)

AmountAmountNet cash provided by (used in) investing activities
Purchase of tangible fixed assets(3,327)(3,116)

Proceeds from sales of tangible fixed assets

103

149

Purchase of intangible assets

(390)

(481)

－

(0)

(776)

(1,211)

Purchase of investment securities
Payments into time deposits
Proceeds from withdrawal of time deposits

649

854

Others(17)(16)(3,759)(3,822)

Net increase (decrease) in short-term loans payable

(561)

270

Proceeds from long-term loans payable

3,140

3,210

Repayment of long-term loans payable(2,031)(2,201)

Purchase of treasury stock

(115)

－

Cash dividends paid

(784)

－

Cash dividends paid to non-controlling shareholders

(106)

(112)

Others

(229)

(167)

Net cash provided by (used in) financing activities

(688)

999

Net cash provided by (used in) investing activities
Net cash provided by (used in) financing activities

Effect of exchange rate change on cash and cash equivalents

1,211

731

Net increase (decrease) in cash and cash equivalents

1,038

6,107

Cash and cash equivalents at beginning of period

13,404

10,361(180)－

14,262

16,468Decrease in cash and cash equivalents resulting from exclusion of subsidiaries
from consolidation
Cash and cash equivalents at end of period12(4) Notes to quarterly consolidated financial statements(Going concern assumptions)Not applicable(Notes in the event of significant changes in shareholders’ equity)
Based on the resolution of the Board of Directors’ meeting held on July 18, 2023, we disposed of 21,276 sharesof treasury stock on August 18, 2023, as restricted stock compensation for Directors and Managing Executive
Officers.
As a result, treasury stock decreased by 50 million yen, capital surplus (gain on the disposal of treasury stock)decreased by 1 million yen and retained earnings decreased by 40 million yen in the second quarter of the current
consolidated cumulative period. As of the end of the second quarter of the current consolidated cumulative period,
the treasury stock amounted to 401 million yen, the capital surplus amounted to 7,352 million yen and retained
earnings amounted to 23,211 million yen.
(Additional information)(About the accounting estimate associated with the spread of novel coronavirus infections)
There have been no significant changes to the assumptions about the impact of the COVID-19 pandemic on theGroup’s business, as stated in the “Additional Information” section of the Annual Securities Report for theprevious fiscal year.
(Transfers between retirement benefit plans)
On April 1, 2023, the Company transferred a portion of its defined benefit corporate pension plan to a defined
contribution pension plan. As a result, the Company applied the Accounting for Transfers between Retirement
Benefit Plans (ASBJ Guidance No. 1, December 16, 2016) and the Practical Solution on Accounting for Transfers
between Retirement Benefit Plans (PITF No. 2, February 7, 2007). No gain or loss was recognized as a result of
this transition.

13

(Segment information)
I Six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)
1. Net sales and profit (loss) by reportable segments(Millions of yen)
Reportable segment

Net Sales:
Sales to outside customers
Intersegment sales orTransfers
Total
Segment income (loss)

Others(Note 3)

Total

UnitedStatesEurope31,705

19,453

2,964

9,080

10,71373,91699

74,015

3,802

60

86

168

1,142

5,260

969

6,230

35,507

19,513

3,050

9,249

11,855

79,177

1,068

80,245542(1,625)

(229)

1,238

870

796

15

812

Japan

Asia

China

Total

Note: 1. Our Group consists of the Company and these overseas corporations which are based on a manufacturing
and sales structure. As such, “Japan”, “the United States”, “Europe”, “Asia” and “China” are our fivereportable segments.
2. Major countries or regions belong to each reportable segment
Europe ··············· the Czech Republic, Russia, Germany
Asia ················· Thailand, Indonesia, Vietnam
3. “Others” comprises business operations that are not categorized as reportable segments and includes thebusiness activities of domestic subsidiaries, such as the transportation business.
2. Difference between total segment income (loss) for reportable segments and operating income on consolidated
statements of income, and details of the difference (reconciliation of the difference)(Millions of yen)
Income or loss
AmountTotal segment income
796
Income for “Others”
15
Intersegment eliminations
9
Operating income on consolidated statements of income
822
3. Impairment loss on noncurrent assets and goodwill, etc., by reportable segment(Significant impairment loss on noncurrent assets)
Not applicable(Significant change in goodwill amount)Not applicable(Significant gain on bargain purchase)
Not applicable14

II Six months ended September 30, 2023 (from April 1, 2023 to September 30, 2023)
1. Net sales and profit (loss) by reportable segments(Millions of yen)
Reportable segment

Net Sales:
Sales to outside customers
Intersegment sales ortransfers
Total
Segment income (loss)

Japan

UnitedStatesEurope34,542

21,324

3,289

Others(Note 3)

Total

Asia

China

Total

3,140

10,931

10,13680,075150

80,225

20

49

188

952

4,500

1,010

5,511

37,832

21,345

3,189

11,12011,08884,576

1,160

85,736917(1,526)

29

1,756

872

2,049

51

2,100

Note: 1. Our Group consists of the Company and these overseas corporations which are based on a manufacturing
and sales structure. As such, “Japan”, “the United States”, “Europe”, “Asia” and “China” are our fivereportable segments.
2. Major countries or regions belong to each reportable segment
Europe ··············· the Czech Republic, Germany
Asia ················· Thailand, Indonesia, Vietnam
3. “Others” comprises business operations that are not categorized as reportable segments and includes thebusiness activities of domestic subsidiaries, such as the transportation business.
2. Difference between total segment income (loss) for reportable segments and operating income on consolidated
statements of income, and details of the difference (reconciliation of the difference)(Millions of yen)
Income or loss
AmountTotal segment income
2,049
Income for “Others”
51
Intersegment eliminations
24
Operating income on consolidated statements of income
2,125
3. Impairment loss on noncurrent assets and goodwill, etc., by reportable segment(Significant impairment loss on noncurrent assets)
Not applicable(Significant change in goodwill amount)Not applicable(Significant gain on bargain purchase)
Not applicable15

3. Supplementary information
Sales states (consolidated)(Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

(Apr. 1, 2022–September.30, 2022)(Apr. 1, 2023–September.30, 2023)

Amount%Amount%FY2022

Increase/Decrease(Apr 1.2022-Mar 31,2023)

AmountAmount%%For Automobile

56,754

76.7

62,152

77.5

5,398

9.5

114,41776.5

For Construction &Industrial machine

14,76620.0

15,803

19.7

1,037

7.0

30,283

20.3

For Air conditioner

1,114

1.5

1,044

1.3

-69

-6.3

2,090

1.4

Other

1,380

1.8

1,224

1.5

-155

-11.3

2,622

1.8

74,015100.0
80,225
Total
Notes: Amounts less than one million yen have been truncated.

100.0

6,209

8.4

149,413100.0

16