Furukawa Electric : Financial Summary for the Fiscal Year Ended March 31, 2023

Financial Summary for the Fiscal Year Ended March 31, 2023

[Japanese Accounting Standards] (Consolidated)

					May 11, 2023
Name of listed company:	FURUKAWA ELECTRIC CO., LTD.	Stock Listings:	Tokyo
Code No.:	5801			URL:	https://www.furukawa.co.jp/en/
Company Representative:	(Title)	President		(Name) Hideya Moridaira
Inquiries:	(Title)	Corporate Vice President and General Manager of Investor Relations Department, Finance &
		Accounting Division
	(Name)	Mami Masuda	TEL: [phone]
Planned date of general meeting of shareholders:	June 23, 2023	Scheduled day of commencing dividend:June 26, 2023
Planned date for submission of financial report:	June 21, 2023
Supplementary documents for financial result:	Yes
Financial results briefing:			Yes (for institutional investors, analysts, and the media)

(Figures are rounded down to the nearest one million yen.)

1. Consolidated earnings for the fiscal year ended March 31, 2023 (April 1, 2022 through March 31, 2023)

(1) Consolidated business results

(Figures in percentages denote the year-on-year change.)

Net income

Net sales

Operating income

Ordinary income

attributable to owners

of the parent company

Million yen

％

Million yen

％

Million yen

％

Million yen

％

Ended March 31, 2023

1,066,326

14.6

15,441

35.1

19,639

(0.1)

17,911

77.4

Ended March 31, 2022

930,496

14.6

11,428

35.6

19,666

279.0

10,093

0.9

(Note) Comprehensive income:

Ended March 31, 2023: 30,064 Million yen [8.3%]

Ended March 31, 2022: 27,760 Million yen [(0.6%)]

Net income

Fully diluted net

Return on

Ordinary income

Operating income

per share

income per share

equity

margin on total assets

margin on sales

Yen

Yen

%

%

%

Ended March 31, 2023

254.45

－

6.1

2.1

1.4

Ended March 31, 2022

143.40

－

3.7

2.2

1.2

(Reference) Investment profit and loss

on equity method:

Ended March 31, 2023: 5,991 million yen

Ended March 31, 2022: 9,045 million yen

(2) Consolidated financial status

Total assets

Net assets

Capital ratio

Net assets per share

Ended March 31, 2023

Million yen

Million yen

％

Yen

934,837

330,990

32.5

4,312.07

Ended March 31, 2022

935,876

314,062

29.8

3,967.08

(Reference) Shareholders' equity:

Ended March 31, 2023: 303,547 million yen

Ended March 31, 2022: 279,219 million yen

(3) Consolidated cash flows

Cash flow from operating

Cash flow from investing

Cash flow from financing

Balance of cash and cash

equivalents at the end of

activities

activities

activities

fiscal year

Million yen

Million yen

Million yen

Million yen

Ended March 31, 2023

36,516

(21,677)

(34,475)

51,950

Ended March 31, 2022

(13,269)

(40,074)

35,020

67,632

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2. Dividends

		Dividend per share			Total cash	Dividends	Net assets
							dividends	payout ratio	dividend ratio
	End of 1st	End of 2nd	End of 3rd		End of year	Total
	Quarter	quarter	quarter		(yearly)	(consolidated)	(consolidated)
	Yen	Yen	Yen		Yen	Yen	Million yen	%	%
Ended March 31, 2022	－	0.00	－		60.00	60.00	4,237	41.8	1.6
Ended March 31, 2023	－	0.00	－		80.00	80.00	5,649	31.4	1.9
Ending March 31, 2024	－	0.00	－		60.00	60.00		32.5
(forecast)

3. Financial forecasts of consolidated operating results for fiscal year ending March 31, 2024 (April 1, 2023 to March 31, 2024)

(Percentages indicate the rate of increase or decrease from the previous year.)

								Net income
	Net sales		Operating income	Ordinary income	attributable to	Net income
		owners of the	per share
								parent company
Full year	Million yen		％	Million yen	％	Million yen	％	Million yen		％	Yen
1,100,000		3.2	24,000	55.4	23,000	17.1	13,000		(27.4)	184.67

* Noted items

1. Any change in important subsidiaries during the term: None
   (Any changes in specific subsidiaries accompanied by a change in the scope of consolidation)

Newly consolidated: -- company (company name: )	Excluded: -- company (company name: )
(2) Any changes in accounting policy or accounting estimates, and restatements
1)	Changes in accounting policy associated with revisions to accounting standards:	Yes
2)	Changes in accounting policy other than the changes in item 1):	No
3)	Changes in accounting estimates:		No
4)	Restatements:		No

1. Number of shares issued (common stock)
2. 1. Number of shares issued at the end of the term (including treasury stock)

	Ended March 31, 2023:	70,666,917	shares
	Ended March 31, 2022:	70,666,917	shares
2)	Number of treasury stock at the end of the term
	Ended March 31, 2023:	272,054	shares
	Ended March 31, 2022:	282,805	shares
3)	Average number of shares outstanding during the term
	Ended March 31, 2023:	70,392,481	shares
	Ended March 31, 2022:	70,391,422	shares

(Note) The number of treasury shares at the end of the term and the number of treasury shares deducted in calculating the average number of shares during the year include the Company's stock held in the trust account relating to Board Benefit Trust (BBT).

(Reference) Summary of non-consolidated financial results

1. Non-consolidated earnings for the fiscal year 2022 ended March 31, 2023 (April 1, 2022 through March 31, 2023)

(1) Non-consolidated business results (Figures in percentages denote the year-on-year change)

	Net sales			Operating income	Ordinary income	Net income
	Million yen		%		Million yen	%	Million yen	%	Million yen		%
Ended March 31, 2023	305,835		4.6		(1,761)	-	8,686	34.4	25,235		-
Ended March 31, 2022	292,424		(25.5)		501	-	6,461	15.6	(525)		-
	Net income per share		Fully diluted net income per share
					Yen				Yen
Ended March 31, 2023			358.40				－
Ended March 31, 2022			(7.47)				－

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(2) Non-consolidated financial status

		Total assets	Net assets	Capital ratio		Net assets per share
		Million yen	Million yen	%		Yen
Ended March 31, 2023		593,768	201,845	34.0		2,866.61
Ended March 31, 2022		608,376	183,515	30.2		2,606.69
(Reference) Shareholders' equity:
Ended March 31, 2023: 201,845 million yen	Ended March 31, 2022: 183,515 million yen

• This financial summary is not subject to auditing procedures.
• Explanation about the proper use of financial forecasts and other special remarks

The above forecasts have been prepared based on information available at the time of the announcement and assumptions at the time of the announcement associated with uncertain factors that may affect the Company's performance in the future. Actual results may differ materially from the forecasts presented in this document, depending on various factors in the future.

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