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 Year Ended December 31, 2022
[Japanese GAAP]
February 01, 2023
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 DivisionContact: Tsutomu Tanaka

Phone: 092-473-8831
Scheduled date of Annual General Meeting of Shareholders: March 29, 2023
Scheduled date of commencing dividend payments: March 14, 2023
Scheduled date of filing annual securities report: March 29, 2023
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2022 (January 01, 2022 to December 31, 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%
Fiscal year ended
December 31, 2022
25,007
1.7
1,440
2.5
1,612
4.7
1,082
2.5
December 31, 2021
24,596
5.2
1,406
6.1
1,540
14.3
1,056
1.6(Note) Comprehensive income:Fiscal year ended December 31, 2022:¥1,023 million [(4.8) %]Fiscal year ended December 31, 2021:¥1,075 million [(7.5) %]Basic earnings per Diluted earnings per Rate of return on
shareshareequity
Yen
Fiscal year ended
December 31, 2022
89.25
December 31, 2021
87.17
(Reference) Equity in earnings (losses) of affiliated companies:

Yen

Ordinary profit tototal assets ratio

%

9.6
10.0
Fiscal year ended December 31, 2022:
Fiscal year ended December 31, 2021:

Operating profit to
net sales ratio

%%

6.0
6.2
¥
¥

5.8
5.7
- million- million(2) Consolidated Financial Position
Total assets

Net assets

Million yen
As ofDecember 31, 2022
28,055
December 31, 2021
25,793(Reference) Equity: As of December 31, 2022:
As of December 31, 2021:

Capital adequacy ratio

Million yen¥¥

11,565
10,94011,565 million
10,940 million

Net assets per share%

Yen

41.2
42.4

952.59902.69(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
December 31, 2022
December 31, 2021

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Million yen

Million yen

Million yen

Million yen(79)1,638(498)(1,785)

1,040
154

2,319
1,845

2. Dividends
Annual dividends
1st2nd3rdquarter-end quarter-end quarter-end

Year-end

Total

Payoutratio

Total
dividends(consolidated)

Dividends
to netassets(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

Million yen%%

December 31, 2021

-

10.00

-

20.00

30.00

363

34.4

3.4

December 31, 2022

-

15.00

-

15.00

30.00

364

33.6

3.2

-

17.50

-

17.50

35.00

Fiscal year ending
December 31, 2023

31.0

(Forecast)(Note) Breakdown of the year-end dividend for the fiscal year ended December 31, 2022 :Commemorative dividend
5.00 yen
Special dividend- yen
3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2023 (January 01, 2023 to December 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable Basic earnings perNet sales
Operating profit
Ordinary profit
to owners of parent
share
Six months ended June 30,2023
Full year

Million yen%

Million yen%

Million yen%

Million yen%

Yen

13,300

3.7

800

14.1

820

0.25250.0

43.24

30,000

20.0

2,000

38.8

2,050

27.2

1,370

26.5

112.84* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): NoNew(Company name:)
Exclusion:(Company name:)(2) 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(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2022:
12,603,595 shares
December 31, 2021:
12,603,595 shares2) Total number of treasury shares at the end of the period:
December 31, 2022:
462,384 shares
December 31, 2021:
483,903 shares
3) Average number of shares during the period:
Fiscal Year ended December 31, 2022:
Fiscal Year ended December 31, 2021:

12,132,934 shares
12,115,451 shares

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2022 (January 01, 2022 to December 31, 2022)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
December 31, 2022
December 31, 2021

Operating profit

Ordinary profit

Net income

Million yen%

Million yen%

Million yen%

Million yen%

18,141
19,189

(5.5)
6.7

1,174
1,149

2.2
19.3

1,415
1,412

0.2
21.3

990
1,032

(4.1)
9.6Basic earnings per share Diluted earnings per share
Fiscal year ended
December 31, 2022
December 31, 2021

Yen

Yen

81.66
85.23

-(2) Non-consolidated Financial Position
Total assets
Million yen
As ofDecember 31, 2022
25,325
December 31, 2021
23,691(Reference) Equity: As of December 31, 2022:
As of December 31, 2021:

Net assets

Capital adequacy ratio

Million yen¥¥

10,828
10,283
10,828 million
10,283 million

Net assets per share%Yen

42.8
43.4

891.88848.53