Furukawa Electric : Notice of Differences between FY2023 Consolidated Results Forecast and Actual Results

	May 13, 2024
Name of Company	Furukawa Electric Co., Ltd
Name of Representative	Hideya Moridaira, President
	(Code: 5801 Prime Market of the Tokyo Stock Exchange)
Contact	Hiroko Takita,
	Corporate Vice President and General Manager of
	Investor Relations Dept.
	(TEL [phone])

Notice of Differences between FY2023 Consolidated Results

Forecast and Actual Results

Differences have occurred between the consolidated results forecast announced on November 9, 2023 and the actual results announced today. The details of these differences are stated below.

1. Differences between the FY2023 consolidated results forecast and the actual results（April 1, 2023 through March 31, 2024）

				Net Income
	Net sales	Operating	Ordinary	Attributable	Net Income
	income	Income	to Owners of	per Share
				the Parent
	Millions of yen	Millions of yen	Millions of yen	Millions of yen	Yen
Previous forecast （A)	1,040,000	5,000	4,000	0	0.00
Actual Results（B)	1,056,528	11,171	10,267	6,508	92.40
Increase or decrease (B-A)	16,528	6,171	6,267	6,508	-
Increase or decrease percentage	1.6	123.4	156.7	-	-
(%)
（Reference）
Previous period results	1,066,326	15,441	17,258	15,894	225.80
（Fiscal year ended March 2023）

(Note) UACJ Corporation, an equity-method affiliate, has adopted International Financial Reporting Standards (IFRS) for its consolidated financial statements from the beginning of the fiscal year ended March 31, 2024, in place of the previous Japanese GAAP. The relevant figures for the fiscal year ended March 31, 2023 are retrospectively adjusted to reflect the change in accounting policy.

(2) Reason

Concerning the consolidated financial results for the fiscal year ended March 31, 2024, operating income, ordinary income and net income attributable to owners of the parent company exceeded the previous forecast due to increased revenue in Communications Solutions business, lump-sum income from customers due to yen depreciation in Automotive Products business, and impact of foreign currency exchange.