Aida Engineering : Presentation of Consolidated Financial Results for the FY Ended March 31, 2024

Presentation of Consolidated Financial Results

for the FY Ended March 31, 2024

(from Apr. 2023 to Mar. 2024)

1

Highlights of Consolidated Results P&L

(JPY mil.)

Orders

Net Sales

Cost of Sales

Gross Profit

Selling, general and administrative expenses

Operating Income

Ordinary Income

Income

Net Income

Exchange Rate	1USD
1EUR

FY2023/3

83,994

68,795

57,168

11,627

16.9%

10,087

1,540

2.2%

1,710

1,964

1,295

¥135.50 ¥140.92

FY2024/3

79,105

72,742

59,086

13,656

18.8%

10,041

3,615

5.0%

3,595

4,233

2,808

¥144.53 ¥156.73

Fluctuation

Amount

%

△ 4,889	△5.8%
3,947	5.7%
1,918	3.4%
2,028	17.4%
	(+1.9P)
△ 46	△0.5%
2,075	134.7%
	(+2.7P)
1,885	110.2%
2,268	115.5%
1,512	116.8%
9.03	6.7%
15.81	11.2%

（100million JPY）

Factors of Change in Operating Income

Improvement of product mix and profitability	14.3
Elimination of allowance for doubtful accounts	8.2
(SG&A)
Increase of net sales	1.1
Impact of exchange rate fluctuations	0.8
Increase of REJ's operating income	0.8
Increase of SG&A expenses	△ 4.4
Total	20.8

＜Summary＞

Orders are solid despite a

reactionary drop from last FY's rush of orders for high-speed presses Sales increased due to an increase in high-speed presses and yen depreciation

Income increased due to higher sales and improved product mix

Orders	Although orders declined 5.8% year-on-year in reaction to the rush of orders for
EV-ralatedhigh-speed presses in the previous FY, order intake remained strong,
	excluding those special factors.
Net Sales	Sales increased 5.7% year-on-year due to an increase in EV-relatedhigh-speed
presses and the impact of a weaker yen.
	Despite soaring raw materials, outsourcing and logistics costs and deterioration
Gross Profit	in profitability of some large projects, the gross profit increased by 17.4% year-
on-year as a result of increased sales and a higher gross profit ratio due to
	improved product mix.
Operating Income	Operating income increased due to the above factors of higher gross profit and
the absence of the provision for doubtful debts recorded in the previous year.
Net Income	Net income increased due to the above-mentioned factors and gain on sales of
fixed assets and investment securities, etc.

2

Trend of Sales, Gross Profit and Operating Income

JPY(million)	Net Sales	Gross Profit	Operating Income/Loss	Gross Profit ratio		Operating Income ratio
25,000							25%
20,000							20%
							15%
15,000
							10%
10,000
							5%
5,000							0%
0							-5%
FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
1Q				1Q

			JPY(million)		FY2023/3			FY2024/3
			1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
			Net Sales	13,665	18,498	15,970	20,660	16,867	17,708		17,042	21,124
			Gross Profit	2,174	3,127	2,595	3,730	3,124	3,200		2,871	4,460
			Operating Income/Loss	△ 121	837	277	545	671	756		373	1,813
			Gross Profit ratio	15.9%	16.9%	16.2%	18.1%	18.5%	18.1%		16.8%	21.1%
			Operating Income ratio	△0.9%	4.5%	1.7%	2.6%	4.0%	4.3%		2.2%	8.6%
												3

Sales to Third Party (by Business/Customer/Geographic segment)

	(JPY mil.)			FY2023/3	FY2024/3	Fluctuation
			Amount	%
Presses			49,476		71.9%	52,118	71.6%	2,642	5.3%
Services			15,370		22.3%	16,450	22.6%	1,080	7.0%
Others			3,948		5.7%	4,173	5.7%	224	5.7%
	Total			68,795		100.0%	72,742	100.0%	3,947	5.7%
	presses			Services	Others
		1,010			1,361		832		1,818
		786		4,647	750	771	5,646
		3,984
790			3,112	4,009	3,681
		3,862
2,876
9,998	13,503	11,322	14,651	13,004	12,866	12,589	13,658
	FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
	1Q						1Q

(JPY mil.)	FY2023/3	FY2024/3	Fluctuation
Amount	%
Japan	24,160	35.1%	23,483	32.3%	△ 677	△ 2.8%
China	10,599	15.4%	11,380	15.6%	781	7.4%
Asia	6,265	9.1%	7,071	9.7%	806	12.9%
Americas	16,345	23.8%	15,439	21.2%	△ 905	△ 5.5%
Europe	11,424	16.6%	15,366	21.1%	3,942	34.5%
Total	68,795	100.0%	72,742	100.0%	3,947	5.7%

Japan	China	Asia	Americas	Europe
	2,877			3,131		3,389	2,833	5,371
		3,550	4,538	3,773
1,865	4,495		4,172
	1,953	3,162	3,887	4,217
1,731		3,855	2,112
3,456		3,353	2,016	1,528	1,414
1,387	3,330		1,193	1,513
		3,472	3,483	2,910
1,712	6,064		2,202	7,683	7,955
5,243		5,168	4,442	5,418	5,666
FY2023/3	2Q		3Q	4Q	FY2024/3	2Q	3Q	4Q
1Q					1Q

Sales by Business segment of the Medium-Term Management Plan（Press / FA / Service）

	(JPY mil.)			FY2023/3		FY2024/3	Fluctuation
				Amount	%
Presses			44,709		65.0%		46,450	63.9%	1,740	3.9%
Factory Automation		5,678		8.3%		6,491	8.9%	812	14.3%
Services			18,407		26.8%		19,801	27.2%	1,394	7.6%
	Total			68,795		100.0%		72,742	100.0%	3,947	5.7%
	presses	Factory Automation	Services
		4,666			5,764		3,688	4,741	4,304	7,068
		4,503	1,984
		747		1,869
3,473		1,330	1,404	1,886
		1,481
1,464
8,727	13,084	9,986	12,911	11,848	11,563	10,852	12,186
	FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
	1Q							1Q

Sales (presses) by Customer industry

(JPY mil.)	FY2023/3	FY2024/3	Fluctuation
Amount	%
Automotive relate	34,217	69.2%	36,702	70.4%	2,484	7.3%
Electric related	4,303	8.7%	6,205	11.9%	1,901	44.2%
Other industries	10,955	22.1%	9,211	17.7%	△ 1,743	△ 15.9%
Total	49,476	100.0%	52,118	100.0%	2,642	5.3%

Automotive related	Electric related	Other industries
	2,968		2,338	2,835		2,012	1,317
		1,817	3,045	1,753
2,613	1,140	3,035		1,511	883	2,056
	602
744
		10,496				10,587
6,641	9,394	7,685	8,657	8,936	8,520
FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
1Q				1Q

4

Sales / Operating Income (by Geographic segment)

Japan

China

Asia

(JPY mil.)	FY2023/3
Net Sales	41,648
Operating	455	1.1%
Income /
Loss

FY2024/3

42,904

1,112 2.6%

Fluctuation

Amount	%
1,255	3.0%
656	144.1%

Net Sales

Operating Income/Loss

13,040	13,319
	11,091

8,917	9,818	9,871		8,546	9,946		1,109
			503
		240				227
△ 97	△ 190			△ 118	△ 107
FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
1Q				1Q

(JPY mil.)	FY2023/3		FY2024/3	Fluctuation
	Amount	%
Net Sales	11,021		11,794		773	7.0%
Operating	△ 149 △ 1.4%	797	6.8%	947
Income/	△635.0%
Loss
Net Sales	Operating Income/Loss
3,558	3,380	3,544	3,575

(JPY mil.)	FY2023/3	FY2024/3
Net Sales	10,676	10,836
Operating	909	8.5%	1,193 11.0%
Income/
Loss
Net Sales	Operating Income/Loss

Fluctuation

Amount

%

1. 1.5%

1. 31.2%

						3,027
		2,309			314
1,772	225	186		196		1,647
		164
28							122
FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
1Q		△ 588		1Q

	3,229		2,989	2,893			3,220
2,203		2,253			2,381	2,340	418
	357	338
			282
	243	211
					153
95
FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
1Q				1Q

Americas

Europe

(JPY mil.)	FY2023/3	FY2024/3	Fluctuation
Amount	%
Net Sales	16,792		16,041		△ 751	△4.5%
Operating	286	1.7%	397	2.5%	111	38.8%
Income/
Loss
Net Sales	Operating Income/Loss

(JPY mil.)	FY2023/3	FY2024/3
Net Sales		12,864	16,506
Operating		227	1.8%	293	1.8%
Income/
Loss
				Net Sales		Operating Income/Loss

Fluctuation

Amount	%
3,641	28.3%
66	29.3%

	4,543		4,667			4,400	4,258
				4,146
		3,927
3,653
			3,235
	147		252		180		236
		△ 15		△ 16		△ 4
△ 98
FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
1Q				1Q

							5,401
			4,245	4,482
		3,627			3,579	3,042
	2,959
2,032					133
89	73		79			84
	65
△ 1						△ 4
FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
1Q				1Q
							5

Orders & Backlog (by Business/Customer/Geographic segment)

Orders by Business Segment

		JPY mil.				presses		Services	Others
	31,773
	1,437
	3,084
											22,679
					18,626	18,065			876			20,310			18,754
							3,463			1,418	17,360
			15,529	1,348					1,075
			984						4,013	914
			1,063	3,952	3,891						5,635
	27,251							3,881
	3,924
											18,339			14,879
			10,541	13,325	13,189						12,564	12,043
		FY2023/3		2Q		3Q		4Q	FY2024/3	2Q		3Q		4Q
		1Q									1Q

Orders by Customer Industry (Presses)

	JPY mil.	Automotive related	Electric related	Other industries
27,251
3,859
2,369				18,339
			13,325	13,189	2,254	14,879
		10,541	2,448	2,219	12,564	12,043
		822	983		1,932
21,022	1,696	989	1,175		1,520	2,188
						3,831	1,220
		878			13,637
			11,513	11,030	11,138
		7,966	0	6,801	8,634
					0
	FY2023/3	2Q	3Q	4Q	2Q	3Q	4Q
	FY2024/3
	1Q				0
				1Q

Orders by Geographic Segment

	JPY mil.		Japan		China		Asia	Americas		Europe
31,773
6,023
5,460							22,679
		18,626						20,310			18,754
2,242			18,065	5,901			17,360
				4,007
15,529					3,256
		3,895	2,140
				3,421			3,510
		2,095	2,164	4,560	4,936
9,884			4,869
1,427
4,125	1,190					4,846
		2,478	3,212	2,784
		3,124	1,644
		1,429	892
				2,705				2,104	2,011
		1,409						1,344
8,163	6,469	8,251	6,180	8,716	6,478	6,766	6,973
	FY2023/3		2Q		3Q		4Q			FY2024/3		2Q		3Q		4Q
	1Q									1Q

Order Backlog by Geographic Segment

JPY mil.	Japan	China	Asia	Americas	Europe
				76,155	78,758	79,076	76,705
73,251		72,938
70,282	70,343
			15,863	16,541
14,544		14,108		15,245	14,426
	13,117
13,762
12,728		10,667	10,688	10,948	11,996	12,625	13,322
12,358	4,717	5,973	5,451
	4,780		4,983
5,085	4,783	5,306
				15,872	14,306
		18,160	17,512	17,252	14,804
19,159	17,238
21,733	22,138	25,221	23,718	27,992	29,051	30,151	29,169
FY2023/3	2Q	3Q	4Q	FY2024/3	2Q	3Q	4Q
1Q				1Q

6

Sales & Orders & Order Backlog (by Press type)

Ultimate Precision Forming Press (UL)

⇒ Special machines which provide improved precision with high frame-rigidity

	Customized press and others
	⇒ Middle and large size machines,
strokes	upon requests from customers

7

Trend of Orders & Order Backlog

							FY2023/3			FY2024/3
		(JPY mil.)		1st Half	Full-year	1st Half	Full-year
						Amount	Proportion	Amount	Proportion	Amount	Proportion	Amount	Proportion
	B		Presses		37,792	79.9%	64,308	76.6%	33,219	77.3%	57,827	73.1%
	y
O			C	Automotive related	28,988	76.7%	51,533	80.1%	24,776	74.6%	40,211	69.5%
B			u
	B r	s
r	u		t	Electric related	3,247	8.6%	5,412	8.4%	3,968	11.9%	9,020	15.6%
s		y	o
d			m
i			Other industries	5,555	14.7%	7,362	11.4%	4,474	13.5%	8,594	14.9%
		e
e	n
	Services		7,009	14.8%	14,852	17.7%	7,476	17.4%	16,993	21.5%
r	e
s
	Others		2,501	5.3%	4,834	5.8%	2,294	5.3%	4,285	5.4%
	s
I	B		Japan		14,632	30.9%	29,065	34.6%	15,194	35.3%	28,935	36.6%
n	y
	China		11,294	23.9%	17,124	20.4%	5,316	12.4%	8,672	11.0%
t	R
	Asia		3,671		7,340		4,212		6,749
a	e			7.8%	8.7%	9.8%	8.5%
g
k	i		Americas	9,585	20.3%	16,309	19.4%	8,357	19.4%	18,073	22.8%
e	o
	Europe		8,118	17.2%	14,154	16.9%	9,908	23.0%	16,675	21.1%
n
				Total	47,302	100.0%	83,994	100.0%	42,990	100.0%	79,105	100.0%
O	B		Japan		22,138	31.5%	23,718	33.7%	29,051	36.9%	29,169	38.0%
r	y
d			China		17,238	24.5%	17,512	24.9%	15,872	20.2%	14,804	19.3%
e	R
r	e		Asia		4,783	6.8%	5,306	7.5%	5,973	7.6%	4,983	6.5%
B	g
a	i		Americas	12,358	17.6%	10,688	15.2%	11,996	15.2%	13,322	17.4%
c
o
k		Europe		13,762	19.6%	13,117	18.6%	15,863	20.1%	14,426	18.8%
l	n
o
g				Total	70,282	100.0%	70,343	100.0%	78,758	100.0%	76,705	100.0%

vs. FY2023/3

Fluctuation

Amount	%
△ 6,480	△ 10.1%
△ 11,321	△ 22.0%
3,607	66.7%
1,232	16.7%
2,141	14.4%
△ 549	△ 11.4%
△ 130	△ 0.4%
△ 8,452	△ 49.4%
△ 591	△ 8.1%
1,763	10.8%
2,521	17.8%
△ 4,889	△ 5.8%
5,451	23.0%
△ 2,708	△ 15.5%
△ 322	△ 6.1%
2,633	24.6%
1,308	10.0%
6,362	9.0%
	8

Major Changes on Balance Sheet

Assets

Fixed assets Current assets		(JPY mil.)
VS end of Previous FY
126,195
	Total assets	＋ 9,908
116,287

Liabilities and Net Assets

Current liabilities			(JPY mil.)
	VS end of Previous FY
Non-current liabilities
Net assets	126,195	Total liabilities	＋ 5,629
116,287

90,283

82,522

Current assets	＋ 7,761
Cash and deposits	＋ 2,805
Notes and accounts
receivable - trade,
and contract assets,	△ 3,127
Electronically recorded
monetary claims -
operating
Inventories	＋ 5,424

	Current liabilities	＋ 4,994
36,882	Accounts payable -trade
31,887	and electronically	＋ 1,451
recorded monetary
	obligations - operating
6,991	Short-term loans payable	+886
6,356	Contract liabilities	+769
	Other current liabilities	+952
	Non-current liabilities	＋ 634

Fixed assets

＋ 2,146

78,043

82,321

Net assets

＋ 4,278

33,76535,912

Investment securities

＋ 2,009

Shareholders' equity ratio

67.0% 65.2%

Valuation difference on available-for-sale securities

Foreign currency translation adjustment

＋ 1,451

+2,291

FY2023/3 FY2024/3

FY2023/3 FY2024/3

9

Highlights: Forecasts of FY2024 Consolidated Results

(JPY mil.)		FY2024/3	FY2025/3			Fluctuation
	Forecast		Amount	%

	Order Intake			79,105	78,000		△ 1,105	△1.4%
	Net Sales			72,742	74,000		1,257	1.7%
	Cost of Sales			59,086	58,000		△ 1,086	△1.8%
	Gross Profit			13,656	16,000		2,343	17.2%
				18.8%	21.6%			(+2.8P)
	Selling, general and administrative		10,041	10,300		258	2.6%
	expenses
	Operating Income			3,615	5,700		2,084	57.7%
			5.0%	7.7%			(+2.7P)
	Ordinary Income			3,595	5,800		2,204	61.3%
	Income Before Income Taxes		4,233	6,300		2,066	48.8%
	Net Income			2,808	4,200		1,391	49.6%
	Exchange Rate		1USD		¥144.53	¥140.00		△4.53	△3.1%
		1EUR		¥156.73	¥150.00		△6.73	△4.3%

Factors of Change in Operating Income

Improvement of product mix and	20.2
profitability
Increase of net sales	3.9
Increase of REJ's operating income	0.6
Impact of exchange rate fluctuations	△ 0.7
Increase of SG&A expenses	△ 3.2
Total	20.8

Orders and sales are

expected to be almost at

the same level as the previous year, while profits are expected to increase due to higher sales and improved product mix

		While orders for high-speed presses are expected to slow down due to a slowdown in EV-
	Order Intake:	related investment, replacement demand for individual presses, etc. is anticipated, and
	orders are expected to remain almost the same level (down 1.4%) as the previous fiscal
		year.
	Net Sales:	Sales are expected to increase by 1.7% year-on-year as shipments of high-speed and
	general-purpose presses, by which order backlogs have been built up, proceed.
	Gross Profit:	In addition to the effect of increased sales, gross profit margin is expected to improve by
	2.8p due to an improved mix of press products and the elimination of large unprofitable
		projects, resulting in a 17.2% increase in gross profit year-on-year.
	Operating Income:	Operating income is expected to increase by 57.7% year-on-year due to the above factors.
	Net Income:	Net income is expected to increase 49.6% year-on-year due to the above factors and
	gain on sales of investment securities.

10