Sansha Electric Manufacturing : Summary of Consolidated Financial Results for the Year Ended March 31, 2023 (Based on Japanese GAAP)（159KB）

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 Year Ended March 31, 2023

(Based on Japanese GAAP)

																					May 10, 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 of ordinary general meeting of shareholders:	June 28, 2023
Scheduled date to file Securities Report:				June 28, 2023
Scheduled date to commence dividend payments:				June 8, 2023
Preparation of supplementary material on financial results:				Yes
Holding of financial results meeting:								Yes
													(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)
(1) Consolidated operating results														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		%
Year ended March 31, 2023		28,088		23.9		1,629		23.8		1,651	25.7	1,241		8.2
Year ended March 31, 2022		22,675		16.7		1,316		215.9		1,313	197.7	1,147		130.5
			Earnings per share		Diluted earnings per	Profit attributable to		Ordinary profit/total	Operating profit/net
						share			owners of				assets				sales
										parent/equity
				Yen				Yen			%					%					%
Year ended March 31, 2023		95.33				-			6.1					5.9					5.8
Year ended March 31, 2022		83.30				-			5.9					5.1					5.8
(2) Consolidated financial position
			Total assets				Net assets		Equity ratio	Net assets per share
			Millions of yen		Millions of yen					%						Yen
As of March 31, 2023			29,083						21,065					72.4				1,583.87
As of March 31, 2022			27,146						19,810					73.0				1,541.90
(3) Consolidated cash flows
			Cash flows from		Cash flows from	Cash flows from	Cash and cash equivalents
			operating activities		investing activities	financing activities		at end of period
			Millions of yen		Millions of yen	Millions of yen		Millions of yen
Year ended March 31, 2023					(198)						(799)					(189)						3,959
Year ended March 31, 2022					940						(317)					(1,666)						5,026
2. Cash dividends
							Annual dividends per share					Total cash	Dividend payout		Ratio of dividends
																		to net assets
			1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end	Total			dividends (Total)	ratio (Consolidated)	(Consolidated)
			Yen			Yen		Yen		Yen	Yen	Millions of yen	%				%
Year ended March 31, 2022		-		8.00		-		17.00	25.00		330	30.0				1.7
Year ended March 31, 2023		-		8.00		-		22.00	30.00		395	31.5				1.9
Year ending March 31, 2024		-			10.00		-				30.00	40.00			38.0
(Forecast)
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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
4. Notes
(1) Changes in significant subsidiaries during the year ended March 31, 2023			No
(changes in specified subsidiaries resulting in the change in scope of consolidation):
(2) 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

(3) Number of issued shares (common shares)

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

	As of March 31, 2023	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 March 31, 2023	1,650,022	shares	As of March 31, 2022	2,102,122	shares
Average number of shares during the period
	Year ended March 31, 2023	13,021,763	shares	Year ended March 31, 2022	13,770,955	shares

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Consolidated financial statements

Consolidated balance sheets

		(Millions of yen)
	As of March 31, 2022	As of March 31, 2023
Assets
Current assets
Cash and deposits	5,026	3,959
Notes receivable - trade	838	551
Accounts receivable - trade	6,364	7,735
Electronically recorded monetary claims - operating	1,242	1,568
Merchandise and finished goods	2,634	3,105
Work in process	1,591	1,789
Raw materials and supplies	2,618	3,181
Other	562	649
Allowance for doubtful accounts	(59)	(31)
Total current assets	20,819	22,510
Non-current assets
Property, plant and equipment
Buildings and structures, net	1,866	1,846
Machinery, equipment and vehicles, net	517	694
Land	2,238	2,238
Leased assets, net	295	375
Construction in progress	79	110
Other, net	262	234
Total property, plant and equipment	5,259	5,499
Intangible assets
Goodwill	28	22
Other	114	101
Total intangible assets	143	123
Investments and other assets
Investment securities	24	32
Deferred tax assets	255	336
Retirement benefit asset	508	384
Other	135	196
Total investments and other assets	924	949
Total non-current assets	6,326	6,572
Total assets	27,146	29,083

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		(Millions of yen)
	As of March 31, 2022	As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade	3,470	3,875
Electronically recorded obligations - operating	337	375
Accounts payable - other	913	1,169
Accrued expenses	609	679
Income taxes payable	195	345
Contract liabilities	388	58
Provision for bonuses	565	614
Provision for product warranties	57	58
Provision for loss on orders received	40	51
Other	326	289
Total current liabilities	6,905	7,519
Non-current liabilities
Lease liabilities	101	190
Directors' retirement benefits payable	68	68
Deferred tax liabilities	161	133
Retirement benefit liability	52	54
Other	48	51
Total non-current liabilities	431	498
Total liabilities	7,336	8,017
Net assets
Shareholders' equity
Share capital	2,774	2,774
Capital surplus	2,698	2,698
Retained earnings	15,226	16,033
Treasury shares	(1,903)	(1,540)
Total shareholders' equity	18,795	19,965
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	5	11
Foreign currency translation adjustment	901	1,109
Remeasurements of defined benefit plans	107	(21)
Total accumulated other comprehensive income	1,014	1,100
Total net assets	19,810	21,065
Total liabilities and net assets	27,146	29,083

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Consolidated statements of income and consolidated statements of comprehensive income Consolidated statements of income

		(Millions of yen)
	Fiscal year ended	Fiscal year ended
	March 31, 2022	March 31, 2023
Net sales	22,675	28,088
Cost of sales	17,227	21,600
Gross profit	5,447	6,488
Selling, general and administrative expenses	4,131	4,858
Operating profit	1,316	1,629
Non-operating income
Interest income	10	12
Dividend income	2	1
Rental income	14	13
Electricity sale income	6	7
Gain on valuation of derivatives	-	44
Other	50	37
Total non-operating income	83	116
Non-operating expenses
Interest expenses	10	4
Loss on valuation of derivatives	8	-
Foreign exchange losses	63	88
Other	4	1
Total non-operating expenses	87	94
Ordinary profit	1,313	1,651
Extraordinary income
Gain on sale of investment securities	7	-
Total extraordinary income	7	-
Profit before income taxes	1,320	1,651
Income taxes - current	228	463
Income taxes - deferred	(55)	(53)
Total income taxes	173	409
Profit	1,147	1,241
Profit attributable to owners of parent	1,147	1,241

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