Sansha Electric Manufacturing : Summary of Consolidated Financial Results for the Three Months Ended June 30, 2023 (Based on Japanese GAAP)（137KB）

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 Three Months Ended June 30, 2023 (Based on Japanese GAAP)

				July 28, 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:	August 4, 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 three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)

(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	%
Three months ended June 30, 2023	6,829	8.6		565	450.0	614		408.9	400	-
Three months ended June 30, 2022	6,287	25.6		102	31.6	120		54.2	12	-
	Earnings per share			Diluted earnings per share
			Yen			Yen
Three months ended June 30, 2023		30.11			-
Three months ended June 30, 2022			0.98			-
(2) Consolidated financial position
	Total assets			Net assets	Equity ratio		Net assets per share
	Millions of yen			Millions of yen				%		Yen
As of June 30, 2023		30,552				21,490				70.3	1,615.82
As of March 31, 2023		29,083				21,065				72.4	1,583.87

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, 2023	-	8.00	-	22.00
Year ending March 31, 2024	-
Year ending March 31, 2024 (Forecast)		10.00	-	30.00

Total

Yen 30.00

40.00

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

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	30,500	8.6	2,000	22.7	2,000	21.1	1,400	12.8	105.26

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4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2023 (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 June 30, 2023	14,950,000	shares	As of March 31, 2023	14,950,000	shares
Number of treasury shares at the end of the period
	As of June 30, 2023	1,650,022	shares	As of March 31, 2023	1,650,022	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2023	13,299,978	shares	Three months ended June 30, 2022	12,847,878	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

		(Millions of yen)
	As of March 31, 2023	As of June 30, 2023
Assets
Current assets
Cash and deposits	3,959	3,954
Notes receivable - trade	551	549
Accounts receivable - trade	7,735	7,567
Electronically recorded monetary claims - operating	1,568	1,988
Merchandise and finished goods	3,105	4,000
Work in process	1,789	2,035
Raw materials and supplies	3,181	3,286
Other	649	512
Allowance for doubtful accounts	(31)	(46)
Total current assets	22,510	23,846
Non-current assets
Property, plant and equipment
Buildings and structures, net	1,846	1,780
Machinery, equipment and vehicles, net	694	669
Land	2,238	2,238
Leased assets, net	375	357
Construction in progress	110	283
Other, net	234	207
Total property, plant and equipment	5,499	5,535
Intangible assets
Goodwill	22	20
Other	101	103
Total intangible assets	123	124
Investments and other assets
Investment securities	32	35
Deferred tax assets	336	336
Retirement benefit asset	384	420
Other	196	253
Total investments and other assets	949	1,045
Total non-current assets	6,572	6,705
Total assets	29,083	30,552

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		(Millions of yen)
	As of March 31, 2023	As of June 30, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade	3,875	4,025
Electronically recorded obligations - operating	375	416
Short-term borrowings	-	1,000
Accounts payable - other	1,169	1,005
Accrued expenses	679	803
Income taxes payable	345	214
Contract liabilities	58	70
Provision for bonuses	614	385
Provision for product warranties	58	54
Provision for loss on orders received	51	56
Other	289	444
Total current liabilities	7,519	8,478
Non-current liabilities
Lease liabilities	190	189
Directors' retirement benefits payable	68	68
Deferred tax liabilities	133	194
Retirement benefit liability	54	79
Other	51	53
Total non-current liabilities	498	584
Total liabilities	8,017	9,062
Net assets
Shareholders' equity
Share capital	2,774	2,774
Capital surplus	2,698	2,698
Retained earnings	16,033	16,141
Treasury shares	(1,540)	(1,540)
Total shareholders' equity	19,965	20,073
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	11	14
Foreign currency translation adjustment	1,109	1,418
Remeasurements of defined benefit plans	(21)	(15)
Total accumulated other comprehensive income	1,100	1,417
Total net assets	21,065	21,490
Total liabilities and net assets	29,083	30,552

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

Consolidated statements of income (cumulative)

		(Millions of yen)
	Three months ended	Three months ended
	June 30, 2022	June 30, 2023
Net sales	6,287	6,829
Cost of sales	5,029	5,036
Gross profit	1,257	1,792
Selling, general and administrative expenses	1,155	1,227
Operating profit	102	565
Non-operating income
Interest income	2	3
Dividend income	0	0
Rental income	3	3
Subsidy income	-	24
Gain on valuation of derivatives	34	32
Other	10	6
Total non-operating income	51	70
Non-operating expenses
Interest expenses	1	2
Foreign exchange losses	31	18
Other	0	0
Total non-operating expenses	33	20
Ordinary profit	120	614
Profit before income taxes	120	614
Income taxes - current	67	153
Income taxes - deferred	40	60
Total income taxes	108	214
Profit	12	400
Profit attributable to owners of parent	12	400

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