Aida Engineering : Consolidated Financial Results for the 1st Quarter of the FY Ended March 31, 2024

(For reference purposes only)

Consolidated Financial Results for the 1st Quarter

of the Fiscal Year Ending March 31, 2024 [Japanese Standard]

August 8, 2023

Stock exchange: Tokyo

Listed company name: AIDA ENGINEERING, LTD.
Stock code:	6118 (URL https://www.aida.co.jp/en/)
Representative:	Toshihiko Suzuki, Representative Director, and President (CEO)
Contact:	Hiromitsu Ugawa, Director, Managing Executive Officer, Division Manager, General Administration Headquarters	Tel: [phone]
Scheduled date of filing quarterly securities report:	August 8, 2023
Scheduled beginning date of dividend payment:	－
Preparation of supplemental explanatory materials:	Yes
Holding of quarterly financial results briefing:	None

(Figures are rounded down to the nearest million yen)

1. Consolidated Results for 1st Quarter of the Fiscal Year Ending March 31, 2024 (April 1, 2023 to June 30, 2023)

(1) Consolidated Financial Results

(Percentages represent change compared to the previous period)

Net sales

Operating income

Ordinary income

Net income

attributable to

owners of parent

Three months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

16,867

23.4

671

－

748

－

473

－

June 30, 2023

Three months ended

13,665

4.5

(121)

－

(117)

－

(175)

－

June 30, 2022

Note: Comprehensive

income:Three

months

ended June 30,

2023

2,522 million yen (－%)

Three months ended June 30, 2022

(27) million yen (－%)

Net income per

Diluted net income

share

per share

Three months ended

Yen

Yen

7.93

7.92

June 30, 2023

Three months ended

(2.94)

－

June 30, 2022

(2) Consolidated Financial Position

Total assets

Net assets

Shareholders'

Net assets per share

equity ratio

Millions of yen

Millions of yen

%

Yen

As of June 30, 2023

118,397

78,648

66.4

1,315.31

As of March 31, 2023

116,287

78,043

67.0

1,305.47

Reference: Shareholders' equity

As of June 30, 2023

78,556 million yen

As of March 31, 2023

77,951 million yen

2. Cash Dividends

Cash dividends per share

1Q End

2Q End

3Q End

Year-end

Total

Yen

Yen

Yen

Yen

Yen

Year ended March 31, 2023

-

-

-

30.00

30.00

Year ending March 31, 2024

-

Year ending March 31, 2024

-

-

30.00

30.00

(forecast)

Note:Revision of dividend forecast for this

period: None

3. Forecasts of Consolidated Results for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024) (Percentages represent change compared to the previous corresponding period)

							Net income	Net
	Net sales		Operating income	Ordinary income	attributable to owners	income
							of parent		per share
Six months	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
ending	36,000	11.9	2,350	228.0	2,450	210.4	1,800	263.1	30.14
September
30, 2023
Full year	72,000	4.7	4,700	205.2	4,900	186.5	3,600	177.9	60.29

Note:Revision of forecasts of consolidated results: None

4. Others

1. Changes in significant subsidiaries during the period: None
2. Application of special accounting treatment used in preparation of the quarterly consolidated financial statements: Yes
   Note: Please refer to "(Accounting Policies Adopted Specially for the Preparation of Quarterly Consolidated Financial Statements)" in "(3) Notes to Quarterly Consolidated Financial Statements" on page 7 for details.
3. Changes in accounting policies, changes in accounting estimates and retrospective restatement
4. 1. Changes in accounting policies due to revisions of accounting standards: Yes
   2. Changes in accounting policies other than "1": None
   3. Changes in accounting estimates: None
   4. Retrospective restatement: None
5. Number of issued shares (common shares)
   1. Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2023	69,448,421 shares
As of March 31, 2023	69,448,421 shares
2. Total number of treasury shares at the end of the period
As of June 30, 2023	9,723,311 shares
As of March 31, 2023	9,736,558 shares
3. Average number of shares outstanding during the period
Three months ended June 30, 2023	59,716,806 shares
Three months ended June 30, 2022	59,699,645 shares

Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.

Statement for proper use of business forecast and other special remarks:

The above forecasts and those presented in appended material are based on the information presently available.

Actual results may differ from these forecasts due to changes in various factors. For the assumptions used as a basis for the business forecast and notes for using the forecast, please refer to "(3) Consolidated financial results forecast and other forward-looking information" on page 2 of the attachments.

2. Consolidated Financial Statements and Principal Notes

(1) Consolidated Balance Sheets

					(Millions of Yen)
		As of March 31, 2023		As of June 30, 2023
Assets
Current assets
Cash and deposits		30,510	30,522
Notes and accounts receivable - trade, and contract	22,506	18,621
assets
Electronically recorded monetary claims - operating		1,018	1,928
Finished goods			4,387			4,785
Work in process			17,022			18,005
Raw materials and supplies		4,456	4,752
Other			4,457			4,151
Allowance for doubtful accounts		(1,837)	(220)
Total current assets			82,522			82,547
Non-current assets
Property, plant and equipment
Buildings and structures		26,737	27,327
Accumulated depreciation		(19,222)	(19,591)
Buildings and structures, net		7,514	7,736
Machinery, equipment and vehicles			20,479			21,201
Accumulated depreciation		(15,092)	(15,723)
Machinery, equipment and vehicles, net		5,387	5,477
Land		7,297	7,332
Construction in progress		234	209
Other		4,245	4,469
Accumulated depreciation			(3,665)			(3,836)
Other, net		580	632
Total property, plant and equipment		21,015	21,389
Intangible assets		1,961	2,006
Investments and other assets
Investment securities		9,186	10,828
Insurance funds			571			569
Retirement benefit asset		633	640
Deferred tax assets		268	291
Other			161			1,774
Allowance for doubtful accounts			(32)			(1,649)
Total investments and other assets		10,788	12,455
Total non-current assets			33,765			35,850
Total assets		116,287	118,397

1

						(Millions of Yen)
			As of March 31, 2023		As of June 30, 2023
Liabilities
Current liabilities
Accounts payable - trade	6,942	6,832
Electronically recorded obligations - operating				2,536			2,369
Short-term borrowings				582			630
Current portion of long-term borrowings	500	500
Accounts payable - other				1,329			893
Income taxes payable	345	292
Contract liabilities	15,407	16,090
Provision for product warranties	615	627
Provision for bonuses	961	560
Provision for bonuses for directors (and other	14	17
officers)
Provision for loss on orders received				180			180
Other	2,470	3,696
Total current liabilities				31,887			32,691
Non-current liabilities
Long-term borrowings	1,000	1,000
Long-term accounts payable - other	1,005	1,130
Deferred tax liabilities				1,870			2,175
Provision for share awards	649	664
Retirement benefit liability	1,451	1,423
Asset retirement obligations	9	9
Other	369	654
Total non-current liabilities			6,356	7,058
Total liabilities	38,244	39,749
Net assets
Shareholders' equity
Share capital	7,831	7,831
Capital surplus	13,007	13,007
Retained earnings	55,205	53,755
Treasury shares			(5,247)		(5,242)
Total shareholders' equity			70,796	69,352
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	3,994	5,142
Deferred gains or losses on hedges				(173)			(567)
Foreign currency translation adjustment	3,463	4,766
Remeasurements of defined benefit plans	(130)	(136)
Total accumulated other comprehensive income			7,155	9,204
Share acquisition rights	91	91
Total net assets			78,043	78,648
Total liabilities and net assets		116,287	118,397

2

1. Consolidated Statements of Income and Comprehensive Income Consolidated Statements of Income

					(Millions of Yen)
			Three months ended	Three months ended
			June 30, 2022	June 30, 2023
Net sales	13,665	16,867
Cost of sales		11,491	13,743
Gross profit	2,174	3,124
Selling, general and administrative expenses			2,295	2,453
Operating income (loss)				(121)		671
Non-operating income
Interest income				21		31
Dividend income	127	78
Other	24	16
Total non-operating income			173	126
Non-operating expenses
Interest expenses	4	8
Foreign exchange losses	159	31
Other	5	8
Total non-operating expenses				169		49
Ordinary income (loss)			(117)	748
Extraordinary income
Gain on sale of non-current assets	0	8
Subsidy income related to suspension or decrease of				7		－
production
Total extraordinary income			8	8
Extraordinary losses
Loss on sale of non-current assets	1		－
Loss on retirement of non-current assets	4	1
Loss on suspension or decrease of production		6		－
Total extraordinary losses	11	1
Income (loss) before income taxes			(120)	755
Income taxes	54	282
Net income (loss)			(175)	473
Net income (loss)attributable to owners of parent		(175)	473

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