Sansha Electric Manufacturing : Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2022 (Based on Japanese GAAP)（138KB）

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2022 (Based on Japanese GAAP)

				January 30, 2023
Company name:	Sansha Electric Manufacturing Co., Ltd.
Stock exchange listing:	Tokyo
Stock code:	6882	URL https://www.sansha.co.jp
Representative:	Representative Director, President	Hajimu Yoshimura
	General Manager
Inquiries:	Corporate Planning Division	Hiroyuki Maruyama	TEL [phone]
	Operating Officer
Scheduled date to file Quarterly Securities Report:	February 3, 2023
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)

(1) Consolidated operating results (cumulative)						Percentages indicate year-on-year changes
	Net sales			Operating profit	Ordinary profit	Profit attributable to
			owners of parent
	Millions of yen	%		Millions of yen	%	Millions of yen		%	Millions of yen	%
Nine months ended December 31, 2022	19,875	23.8		620	11.6	609		3.2	355	(15.6)
Nine months ended December 31, 2021	16,060	18.3		556	269.3	590		265.9	420	-
	Earnings per share			Diluted earnings per share
			Yen			Yen
Nine months ended December 31, 2022		27.44			-
Nine months ended December 31, 2021		29.95			-
(2) Consolidated financial position
	Total assets			Net assets	Equity ratio		Net assets per share
	Millions of yen			Millions of yen				%		Yen
As of December 31, 2022		28,916				20,212				69.9	1,519.74
As of March 31, 2022		27,146				19,810				73.0	1,541.90

2. Cash dividends
		Annual dividends per share
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end
	Yen	Yen	Yen	Yen
Year ended March 31, 2022	-	8.00	-	17.00
Year ending March 31, 2023	-	8.00	-
Year ending March 31, 2023 (Forecast)				-

Total

Yen 25.00

-

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Percentages indicate year-on-year changes

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per share
		owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Full year	27,000	19.1	1,100	(16.4)	1,100	(16.2)	850	(25.9)	65.28

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4. Notes

1. Changes in significant subsidiaries during the nine months ended December 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of December 31, 2022	14,950,000	shares	As of March 31, 2022	14,950,000	shares
Number of treasury shares at the end of the period
	As of December 31, 2022	1,650,022	shares	As of March 31, 2022	2,102,122	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Nine months ended December 31, 2022	12,938,298	shares	Nine months ended December 31, 2021	14,047,878	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

		(Millions of yen)
	As of March 31, 2022	As of December 31, 2022
Assets
Current assets
Cash and deposits	5,026	4,128
Notes receivable - trade	838	625
Accounts receivable - trade	6,364	6,575
Electronically recorded monetary claims - operating	1,242	1,819
Merchandise and finished goods	2,634	3,382
Work in process	1,591	1,931
Raw materials and supplies	2,618	3,021
Other	562	853
Allowance for doubtful accounts	(59)	(31)
Total current assets	20,819	22,304
Non-current assets
Property, plant and equipment
Buildings and structures, net	1,866	1,875
Machinery, equipment and vehicles, net	517	421
Land	2,238	2,238
Leased assets, net	295	247
Construction in progress	79	314
Other, net	262	253
Total property, plant and equipment	5,259	5,351
Intangible assets
Goodwill	28	23
Other	114	107
Total intangible assets	143	131
Investments and other assets
Investment securities	24	32
Deferred tax assets	255	295
Retirement benefit asset	508	559
Other	135	240
Total investments and other assets	924	1,129
Total non-current assets	6,326	6,611
Total assets	27,146	28,916

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		(Millions of yen)
	As of March 31, 2022	As of December 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	3,470	4,490
Electronically recorded obligations - operating	337	453
Accounts payable - other	913	1,377
Accrued expenses	609	682
Income taxes payable	195	152
Contract liabilities	388	108
Provision for bonuses	565	362
Provision for product warranties	57	54
Provision for loss on orders received	40	116
Other	326	390
Total current liabilities	6,905	8,188
Non-current liabilities
Lease liabilities	101	97
Directors' retirement benefits payable	68	68
Deferred tax liabilities	161	238
Retirement benefit liability	52	57
Other	48	54
Total non-current liabilities	431	515
Total liabilities	7,336	8,703
Net assets
Shareholders' equity
Share capital	2,774	2,774
Capital surplus	2,698	2,698
Retained earnings	15,226	15,147
Treasury shares	(1,903)	(1,540)
Total shareholders' equity	18,795	19,079
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	5	12
Foreign currency translation adjustment	901	1,018
Remeasurements of defined benefit plans	107	101
Total accumulated other comprehensive income	1,014	1,133
Total net assets	19,810	20,212
Total liabilities and net assets	27,146	28,916

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

		(Millions of yen)
	Nine months ended	Nine months ended
	December 31, 2021	December 31, 2022
Net sales	16,060	19,875
Cost of sales	12,391	15,718
Gross profit	3,668	4,157
Selling, general and administrative expenses	3,112	3,536
Operating profit	556	620
Non-operating income
Interest income	4	9
Dividend income	2	1
Rental income	10	10
Gain on valuation of derivatives	-	60
Other	41	28
Total non-operating income	58	111
Non-operating expenses
Interest expenses	4	3
Loss on valuation of derivatives	0	-
Foreign exchange losses	14	117
Other	4	0
Total non-operating expenses	24	122
Ordinary profit	590	609
Extraordinary income
Gain on sale of investment securities	7	-
Total extraordinary income	7	-
Profit before income taxes	597	609
Income taxes - current	115	217
Income taxes - deferred	61	37
Total income taxes	176	254
Profit	420	355
Profit attributable to owners of parent	420	355

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