G Tekt : Earnings Release Full year ended March31, 2023

Earnings Release

Full year ended March 31, 2023

May 10, 2024

Disclaimer

This presentation contains forward looking statements which reflect Management's current views and estimates. The forward looking statements involve certain risks and uncertainties, which may cause actual results to differ materially from those contained in the forward looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments.

May 10, 2024 Financial Results of FY 2023 Ended March 31, 2024

Reminders

• All amounts are in JPY (unless otherwise noted)
• ''Mass production'' sales in this report means sales of assembly and transmission parts
• ''New vehicle model development'' sales in this report means sales of equipment, die and new model prototype
• G-ONEAUTO PARTS DE MEXICO, S.A. DE C.V. (G-ONE), the equity-method affiliate, is excluded from North America Segment
• Financial statements are available in "Summary of Consolidated Financial Results for the Year Ended March 31, 2024 (Based on Japanese GAAP)'' disclosed at G-TEKT official website on May 10, 2024. https://ssl4.eir-parts.net/doc/5970/ir_material_for_fiscal_ym11/155287/00.pdf

May 10, 2024 Financial Results of FY 2023 Ended March 31, 2024

FY2023 Full Year Performance Overview

(in JPY billion)

NET SALES
¥ 344.6B	(YoY variance)
	9.6%
OPERATING PROFIT
¥ 16.2B	(YoY variance)
	26.5%
EPS
¥ 307.52	(YoY variance)
	28.7%
May 10, 2024 Financial Results of FY 2023 Ended March 31, 2024

• The increase in operating profit was due to an increase in mass production volume resulting from stable global production and foreign currency exchange rate effects, despite a decrease in new vehicle model development sales.
• Increase in net sales, decrease in operating profit in FY2024. Since BEVs are in the preliminary stages of being launched by automakers, new vehicle model development sales are not expected to grow. In addition, mass production volume in China is not expected to grow due to the economic slowdown.

	Outlook	Change	Rate of	FY2023	Currency
	Revised in
	Change	Apr. - Mar.	effects
	Feb
Net sales	343.0	1.6	0.5%	344.6	4.5
Operating profit	15.4	0.8	5.5%	16.2	0.2
Operating profit margin	4.7%	+0.2pt	-	4.7%	-
Net income attributable to	10.7	2.5	23.7%	13.2	0.1
owners of parent
EPS (¥)	248.52	59.00	23.7%	307.52	-

FY2023 Financial Results

	FY2022	Change	YoY variance	3M-2024	FY2023	Currency
(in JPY billion)	Apr. - Mar.	Jan. - Mar.	Apr. - Mar.	effects
Net sales	314.3	30.3	9.6%	84.6	344.6	18.0
Operating profit	12.8	3.4	26.5%	4.4	16.2	0.9
Operating profit margin	4.1%	+0.6pt	-	5.2%	4.7%	-
Net income attributable	10.3	2.9	28.9%	3.5	13.2	0.7
to owners of parent
EPS (¥)	238.87	68.65	28.7%	81.99	307.52	-

May 10, 2024 Financial Results of FY 2023 Ended March 31, 2024

Factors Affecting Operating Profit

																							(in JPY billion)
												+3.4													1	Unfavorable vehicle production mix
		+17.8	+1.5	+0.3	-8.9
																		2	Cost saving activities
	3
					2			-3.8														3	Depreciation
												-2.0											4	Increase in Non-Mass Production sales
										4
																										Increase in labor cost
																	-1.5	-0.9	+0.8	16.2	5
											5
12.8									6			6	Increase in SG&A expense
											7		8
													9
																									7	Fall in scrap metal price
			1
																											8	Increase in manufacturing cost
																											9	Foreign currency translation

FY2022

Apr. - Mar.

FY2023

Apr. - Mar.

May 10, 2024 Financial Results of FY 2023 Ended March 31, 2024

Cash Flow Statements

40.2

37.5 -30.9

-16.4

F/C：66

				Operating C/F
				Profit before income taxes	18.4
				Depreciation	19.3
				Decrease in trade receivables	15.3
2.4				Investing C/F
	32.8		Purchase of property, plant	-23.2
				and equipment
				Financing C/F
				Net decrease in borrowings	-13.3

Mar 31, 2023	Operating C/F Investing C/F	Financing C/F	Other	Mar 31, 2024
Cash and cash				Cash and cash
equivalents				equivalents

May 10, 2024 Financial Results of FY 2023 Ended March 31, 2024

Net Sales by Type of Business

	FY2022		FY2023
	Apr. - Mar.		Apr. - Mar.
(in JPY billion)	Net sales		Ratio	Net sales		Ratio	YoY variance
Auto body	268.8		85.5%	316.0		91.7%	17.6%
components
New vehicle model	37.9		12.0%	19.6		5.7%	-48.2%
development
Transmission parts	7.5		2.4%	8.8		2.6%	17.2%
Other	0.2		0.1%	0.2		0.0%	-
Total	314.3		-	344.6		-	9.6%

May 10, 2024 Financial Results of FY 2023 Ended March 31, 2024

Net Sales by Customer

	FY2021		FY2022		FY2023
	Apr. - Mar.	Apr. - Mar.	Apr. - Mar.
(in JPY billion)	Net Sales		Ratio	Net Sales		Ratio	Net Sales		Ratio
Honda	137.4		58.1%	175.8		55.9%	188.8		54.8%
Toyota	51.5		21.8%	71.5		22.8%	76.5		22.2%
Subaru	15.1		6.4%	22.7		7.2%	27.3		7.9%
Jaguar Land Rover	8.2		3.4%	12.2		3.9%	15.1		4.4%
Mazda / Ford	6.9		2.9%	10.9		3.5%	9.6		2.8%
BMW	5.0		2.1%	6.3		2.0%	7.1		2.1%
Other	12.4		5.3%	14.9		4.7%	20.2		5.8%
TOTAL	209.4		-	236.5		-	344.6		-

May 10, 2024 Financial Results of FY 2023 Ended March 31, 2024

Regional Segment: Japan

Net Sales

12.8 13.2

15.8 14.8

(in JPY billion)

16.7 17.1	15.3
13.3

(in JPY billion)	FY2022	FY2023	YoY variance	Currency effects
Apr. - Mar.	Apr. - Mar.
Net Sales	58.7	60.4	2.9%	-
Operating Profit	1.97	4.56	130.9%	-
Depreciation	3.4	3.4	-1.9%	-

1Q

2Q

3Q

4Q

Operating profit

Key Factors

0.53 0.41 0.79

1.22 1.57

1.67

0.53

 Net sales increased due to increase in mass production volume,

increase in new vehicle model development sales, and higher material

unit prices.

 Operating profit increased significantly. Despite the impact of a

decrease in new vehicle model development sales, this was due to an

-0.19
1Q	2Q	3Q	4Q

increase in mass-production sales, cost reductions at production sites,

and an increase in royalty income from overseas subsidiaries.

May 10, 2024 Financial Results of FY 2023 Ended March 31, 2024