Aida Engineering : Presentation of Consolidated Financial Results for the FY Ended March 31, 2023

Presentation of Consolidated Financial Results

for the FY Ended March 31, 2023

(from Apr. 2022 to Mar. 2023)

1

Highlights of Consolidated Results Summary of P&L

(JPY mil.)

Order Intake

Net Sales

Cost of Sales

Gross Profit

Selling, general and administrative expenses

Operating Income

Ordinary Income

Income Before Income Taxes

Net Income/Loss

Exchange Rate	1USD
1EUR

FY2022/3

78,357

62,466

51,574

10,892

17.4%

8,386

2,505

4.0%

2,432

1,753

896

¥112.37 ¥130.55

FY2023/3

83,994

68,795

57,168

11,627

16.9%

10,087

1,540

2.2%

1,710

1,964

1,295

¥135.50 ¥140.92

	Fluctuation
Amount	%	（100million JPY）

5,637	7.2%			Factors of Change in Operating
				Impact of exchange rate fluctuations	1.6
6,329	10.1%
5,593	10.8%			Increase of net sales (except REJ)	1.8
735	6.8%			Increase of gross profit ratio (except REJ、	2.0
	(△0.6P)			valuation/allowances etc.)
				Increase of allowance for doubtful	-8.5
1,701	20.3%
		accounts of China (SG&A)
					-4.5
△ 965	△38.5%			Increase of other SG&A expenses
	(△1.8P)			Increase of loss on valuation of inventories	-1.5
△ 722	△29.7%
		and allowances
210	12.0%			Decrease of REJ's operating income	-0.5
399	44.5%
		Total	-9.6
23.13	20.6%
10.37	7.9%

Achieved Record high

orders, mainly due to order

increase of high-speed presses for EVs. Sales increased, but operating income decreased due to lower gross profit ratio and

provision for doubtful accounts. Net income increased due to the elimination of special factors, etc.

Order Intake	Annual order intake reached a record high (7.2% year-on-year), contributed by
an increase in orders for high-speed presses for EV drive motors.

Sales of presses for EVs remained steady. It increased 9.1% year-on-year partly

Net Salesdue to exchange rate effects (weaker yen), but were lower than expected due to sales delays caused by the electronic components shortage.

Although gross profit increased by 6.8% year-on-year due to the above- mentioned factors, the gross profit ratio fell year-on-year due to soaring raw

Gross Profit material, outsourcing and logistics costs. The initially expected improvement in the product mix had a limited effect on boosting gross margins due to the above-mentioned sales delays.

Operating income dropped 38.5% year-on-year mainly due to the above-

Operating Income mentioned factors of lower gross profit ratio, as well as the provision for doubtful debts (¥0.85bn).

Ordinary Income Ordinary income decreased 29.7% year-on-year due to the above factors.

Net income increased 44.5% year-on-year due to gains on the sale of strategic

Net Income shareholdings and the liquidation of overseas subsidiaries, as well as the elimination of last year's special factors (e.g. impairment losses on overseas subsidiaries and operational losses due to the impact of Corona, etc.).

2

Trend of Sales, Gross Profit and Operating Income

JPY(million)	Net Sales	Gross Profit	Operating Income/Loss	Gross Profit ratio		Operating Income ratio
25,000							20%
20,000							15%
15,000							10%
10,000							5%
5,000							0%
0							-5%
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
1Q				1Q

			JPY(million)		FY2022/3			FY2023/3
			1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
			Net Sales	13,079	13,830	17,192	18,363	13,665	18,498		15,970	20,660
			Gross Profit	2,375	2,600	2,724	3,192	2,174	3,127		2,595	3,730
			Operating Income/Loss	270	528	601	1,105	△ 121	837		277	545
			Gross Profit ratio	18.2%	18.8%	15.8%	17.4%	15.9%	16.9%		16.2%	18.1%
			Operating Income ratio	2.1%	3.8%	3.5%	6.0%	△0.9%	4.5%		1.7%	2.6%

3

Sales to Third Party (by Business/Customer/Geographic segment)

Sales by Business segment（Press related / Others）

	(JPY mil.)			FY2022/3	FY2023/3	Fluctuation
			Amount	%
Press Machines			44,443		71.1%	49,476	71.9%	5,033	11.3%
Services			13,865		22.2%	15,370	22.3%	1,504	10.8%
Others			4,156		6.7%	3,948	5.7%	△ 207	△ 5.0%
	Total			62,466		100.0%	68,795	100.0%	6,329	10.1%
	Press Machines	Services	Others
						1,313		1,010		1,361
				898			786	4,647
					3,866		3,984
830	1,114	3,129	790
				3,862
3,104	3,764				2,876
9,144	8,951	13,163	13,183	9,998	13,503	11,322	14,651
	FY2022/3	2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
	1Q						1Q

Sales by Geographic segment

	(JPY mil.)			FY2022/3	FY2023/3	Fluctuation
			Amount	%
Japan			23,968		38.4%	24,160	35.1%	192	0.8%
China			8,498		13.6%	10,599	15.4%	2,101	24.7%
Asia			4,175		6.7%	6,265	9.1%	2,090	50.1%
Americas			13,638		21.8%	16,345	23.8%	2,707	19.9%
Europe			12,185		19.5%	11,424	16.6%	△ 761	△ 6.2%
	Total			62,466		100.0%	68,795	100.0%	6,329	10.1%
	Japan	China	Asia Americas Europe
				2,897	3,397		2,877		3,131
					3,550	4,538
				4,146	1,865	4,495
3,004	2,886	3,654	1,953
1,731	3,855
2,856	2,980	1,323	1,696	3,456	3,353
553	601	2,477	2,113	1,387	3,330	1,193
1,806	2,100	6,838	7,009	1,712	6,064	2,202	7,683
	4,859	5,261	5,243	5,168
	FY2022/3	2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
	1Q						1Q

Sales by Business segment of the Medium-Term Management Plan（Press / FA / Service）

	(JPY mil.)				FY2022/3		FY2023/3	Fluctuation
					Amount	%
Press Machines				39,077		62.6%		42,487	61.8%	3,410	8.7%
Factory Automation			6,044		9.7%		7,900	11.5%	1,856	30.7%
Services				17,344		27.8%		18,407	26.8%	1,063	6.1%
	Total				62,466		100.0%		68,795	100.0%	6,329	10.1%
	Press Machines		Factory Automation Services
					3,931	4,951			4,666		5,764
							4,503	3,173
3,757	4,703	1,917	1,365		3,473	1,405
	1,572
1,801		960					1,749
	11,342	12,046		12,426		11,723
7,521	8,166	8,442	9,895
	FY2022/3		2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
	1Q								1Q

Sales (press machines) by Customer industry

	(JPY mil.)			FY2022/3	FY2023/3	Fluctuation
			Amount	%
Automotive relate		30,894		69.5%	34,217	69.2%	3,322	10.8%
Electric related			4,638		10.4%	4,303	8.7%	△ 334	△ 7.2%
Other industries		8,910		20.0%	10,955	22.1%	2,044	22.9%
	Total			44,443		100.0%	49,476	100.0%	5,033	11.3%
	Automotive related	Electric related Other industries
				2,706	2,427		2,968		2,338
						1,817
1,810			1,148	1,583	2,613	1,140	3,035
1,965					602
828	1,077	9,309	9,171	744	9,394		10,496
				6,641	7,685
6,505	5,908
	FY2022/3		2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
	1Q						1Q

4

Sales / Operating Income (by Geographic segment)

Japan

China

Asia

(JPY mil.)	FY2022/3
Net Sales	38,188
Operating	802	2.1%
Income

FY2023/3

41,648

455 1.1%

Fluctuation

Amount	%
3,460	9.1%
△ 346	△43.2%

(JPY mil.)	FY2022/3	FY2023/3	Fluctuation
Amount	%
Net Sales	8,851		11,021	2,170	24.5%
Operating	741		8.4%	△ 149	△ 1.4%	△ 891	△120.1%
Income

Net Sales

Operating Income

Net Sales

Operating Income

							13,040
		10,650	11,322		9,818	9,871
				8,917
7,958	8,257
	542				503
		174				240
89
△ 3			△ 97
			△ 190
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
1Q				1Q

					3,558		3,380
	2,178	2,564	2,192			2,309
1,915
	1,772
		235	225	186
187	192
126
	28
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
1Q				1Q			△ 588

(JPY mil.)	FY2022/3	FY2023/3
Net Sales	7,646	10,676
Operating	745	9.8%	909	8.5%
Income
Net Sales	Operating Income

Fluctuation

Amount	%
3,030	39.6%
163	22.0%

					3,229		2,989
			2,766
		2,495
			2,203		2,253
			353		357
1,231	1,151	237			243	211
66	88			95
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
1Q				1Q

Americas

Europe

(JPY mil.)	FY2022/3	FY2023/3	Fluctuation
Amount	%
Net Sales	13,869	16,792		2,922	21.1%
Operating	269	1.9%	286	1.7%	16	6.2%
Income
Net Sales	Operating Income

(JPY mil.)	FY2022/3	FY2023/3
Net Sales	12,658	12,864
Operating	110	0.9%	227	1.8%
Income
				Net Sales			Operating Income

Fluctuation

Amount

%

1. 1.6%

1. 104.9%

			4,272		4,543		4,667
					3,927
		3,707		3,653
2,885	3,003
			160		147		252
	105	46
				△ 15
△ 42
			△ 98
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
1Q				1Q

							4,245
			3,616			3,627
3,027	3,069	2,945			2,959
				2,032
					89	73	65
45	30	24
10
	△ 1
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q	3Q	4Q
1Q				1Q
							5