Alps Alpine : Announcement Regarding Revision of Financial Results Forecasts for the Fiscal Year Ended March 31, 2023 and Recording of Extraordinary Loss

(2) Reasons for revisions

Due to the following factors, the Company has revised its consolidated financial results forecasts for net sales, operating income, ordinary income and profit attributable to owners of parent that the Company announced on October 28, 2022. The year-enddividend for the fiscal year ended March 31, 2023 has not been revised from these revisions.

1) Net sales

Net sales are expected to exceed the previous forecast due to the recovery of automobile production and the impact of yen depreciation.

2) Income (loss)

Each type of income is expected to fall short of the previous forecast for the following reasons.  Stagnation of the market for consumer digital equipment

 Delays in passing on the increased portion of raw material costs and fixed costs (energy price spikes, wage raises)

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April, 14 2023

For Immediate Release (Translation only)

Company name: ALPS ALPINE CO., LTD.

Representative: Toshihiro Kuriyama

Representative Director, President & CEO (Code 6770, TSE Prime Market)

Inquiries to: Atsushi Suzuki, Senior Manager, Corporate Communication Department TEL [phone] (IR Direct)

Announcement Regarding Revision of Financial Results Forecasts for the Fiscal Year Ended March 31,

2023 and Recording of Extraordinary Loss

Based on recent trends in its financial results, we hereby announce, as follows, revisions to the full-year consolidated financial results forecasts which were released on October 28, 2022.

1. Revisions to financial results

1. Revisions to consolidated financial results forecasts for the fiscal year ended March 31, 2023 (April 1, 2022 to March 31, 2023)

	(A)
	Forecast
	(Oct, 28, 2022)
Net Sales	905,000
Operating Income	50,000
Ordinary Income	57,000
Profit attributable to	40,000
owners of parent
Net Income per Share	194.30

(Unit: "Millions of yen" except information of per share, %)

(B)			Ref.
Forecast	(B) - (A)	(B) / (A)	FY2022
(Apr, 14, 2023)			(Apr. 1 - Mar. 31)
933,000	28,000	3.1%	802,854
33,000	-17,000	-34.0%	35,208
34,000	-23,000	-40.4%	40,286
10,500	-29,500	-73.8%	22,960
51.04	-143.26	-73.7%	110.82

• Impact of further price increases for components from January onward
• Failure to achieve improvement of costs for startup of production of new automobile products and processing costs
• Recording of provision for reorganization of production bases in Europe (from item 2)
• Recording of impairment loss mainly due to withdrawing from unprofitable businesses (from item 2)

2. Expected recording of extraordinary loss

In the fourth quarter of the fiscal year under review, the Company expects to record impairment loss of ¥3.9 billion

due to withdrawing from some unprofitable businesses in the Module and System segment, impairment of business-usenon-current assets for the Component segment of ¥1.4 billion and expenses for the reorganization of production bases in Europe of ¥1.0 billion as extraordinary loss.

Note:

The above forecasts are based on information available as of the date this announcement was released. Actual results may differ from the forecasted figures due to various factors arising in the future.

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