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    8154   JP3206200002

KAGA ELECTRONICS CO.,LTD.

(8154)
  Report
Delayed Japan Exchange  -  02:00 2022-10-03 am EDT
4135.00 JPY   +2.35%
09/29KAGA ELECTRONICS CO.,LTD. : Ex-dividend day for interim dividend
FA
08/04Kaga Electronics : Summary of Consolidated Financial Results for the First Quarter Ended June 30, 2022
PU
08/04Kaga Electronics : Earnings Presentation FY2023/3 Q1
PU
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Kaga Electronics : Consolidated Financial Results for the First Quarter of the Fiscal Year ending March 2023

08/04/2022 | 03:47am EDT

For Institutional Investors/Analystssts

Consolidated Financial Results for the First Quarter of the Fiscal Year ending March 2023

KAGA ELECTRONICS CO., LTD.

TSE Prime Market 8154

August 4, 2022

Summary of Financial Results

for the First Quarter Ended June 30, 2022

  • Net sales increased by 43.3 billion yen or 40.9% year on year to 149.3 billion yen, driven by the core electronic components business. Sales expanded in a wide range of areas, led by automotive and industrial equipment related applications.
  • Operating income increased by 5.3 billion yen or 120.6% year on year to 9.8 billion yen.

FY2023/3

Improved gross profit margin attributable to higher sales and sales mix resulted in

1Q Results

substantial rise in gross profit.

All objectives from net sales to ordinary income for the quarter achieved record highs

for a first quarter.

Net sales and operating income both exceeded the internal plan, by approx. 27.0 billion

yen and 4.6 billion yen respectively.

Given uncertainties in the outlook due to factors including COVID-19, the situation in Ukraine

and exchange fluctuations, upward revision was made factoring in the 1Q upside only.

FY2023/3

Forecasts for 2Q and beyond are unchanged from the initial forecasts.

earnings

(billion yen)

Net Sales

Operating income

Net income

Forecasts

Previous forecasts

510.0

21.2

14.5

Revised forecasts

540.0

24.0

16.0

Effect of

exchange

rates

  • Relative to the US dollar and other major currencies, the yen generally trended downward, weakening to below compared to the same period the previous year earlier levels and plan assumptions. The effect of exchange rates on the conversion into yen of the P&L of the Group's overseas companies is as follows.

(billion yen)

Net Sales

Operating income

YoY

approx 9.4

approx 0.4

vs Plan

approx 5.6

approx 0.3

1

Financial Highlights for FY2023/3 1Q

million yen

FY2022/3

FY2023/3

YoY

FY2023/3

Progress

Forecasts

1Q Results

1Q Results

rate

(announced on May. 12, 2022)

Net sales

105,949

149,302

40.9%

510,000

29.3%

Gross Profit

13,550

12.8%

19,838

13.3%

46.4%

SG&A

9,098

8.6%

10,018

6.7%

10.1%

Operating income

4,452

4.2%

9,820

6.6%

120.6%

21,200

4.2%

46.3%

Ordinary income

4,566

4.3%

9,858

6.6%

115.9%

21,200

4.2%

46.5%

Profit attibutable to

2,872

2,7%

6,984

4.7%

143.2%

14,500

2.8%

48.2%

owners of parent

EPS (yen)

104.55

266.10

552.42

Exchange Rate yen / USD

109.49

129.57

116.00

Note: "x. x% " represents the profit margin.

2

Financial Results by Business Segment for FY2023/3 1Q

million yen

FY2022/3

FY2023/3

YoY

FY2023/3

Progress

Forecasts

1Q Results

1Q Results

rate

(announced on May. 12, 2022)

Electronic

Net sales

90,624

133,477

47.3%

447,000

29.9%

Component

Segment income

3,699

4.1%

9,018

6.8%

143.7%

18,500

4.1%

48.7%

Information

Net sales

10,636

11,147

4.8%

39,000

28.6%

Equipment

Segment income

568

5.3%

564

5.1%

-0.6%

2,000

5.1%

28.2%

Software

Net sales

568

498

-12.3%

4,000

12.5%

Segment income

-67

-11.8%

-33

-6.7%

100

2.5%

Others

Net sales

4,120

4,178

1.4%

20,000

20.9%

Segment income

217

5.3%

249

6.0%

14.7%

600

3.0%

41.5%

Total

Net sales

105,949

149,302

40.9%

510,000

29.3%

Segment income

4,452

4.2%

9,820

6.6%

120.6%

21,200

4.2%

46.3%

Note: Figures of each segment income are not inter-segment adjusted. Total amount is inter-segment adjusted (operating income).

"x. x% " represents the profit margin.

3

Effect of M&A

Net Sales

All three companies achieved significant increases in net sales driven by the electronic components business.

+24,223

+15,607

+3,521

149,302

105,949

2022/3

Kaga

Kaga FEI

Excel

2023/3

1Q

Electronics

FY2023/3

1Q

SG&A

/ SG&A ratio

SG&A ratio was kept down despite an increase in SG&A expenses resulting from a growth in sales.

9,098

+927

+39

10,018

-47

9.9%

8.1%

8.1%

5.6%

6.7%

8.6%

2.9%

4.0%

2022/3

Kaga

Kaga FEI

Excel

2023/3

1Q

Electronics

FY2023/3

1Q

million yen

Gross profit / Gross profit margin

Kaga FEI achieved a significant increase in gross profit, reflecting higher sales and improved profit margin.

+3,452

+2,775

19,838

13,550

-92

16.0%

15.5%

12.1%

13.3%

12.8%

9.4%

5.7%

7.9%

2022/3

Kaga

Kaga FEI

Excel

2023/3

1Q

Electronics

FY2023/3

1Q

Operating income / Operating income marjin

Kaga Electronics and Kaga FEI contributed significantly to achieve 6.6% operating income margin.

+2,693

9,820

+2,532

-44

4,452

7.4%

6.4%

6.6%

6.2%

4.2%

2.7%

3.7%

1.1%

Kaga

Kaga FEI

Excel

2023/3

2022/3

1Q

Electronics

FY2023/3

1Q

Note :With respect to gross profit and operating income, figures presented above are before consolidation

4

adjustments between the two companies. For reference, after consolidation adjustments, gross profit

stood at 25million yen, and operating income came to 65million yen.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Kaga Electronics Co. Ltd. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 07:46:05 UTC.


© Publicnow 2022
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Financials
Sales 2023 600 B 4 147 M 4 147 M
Net income 2023 23 000 M 159 M 159 M
Net Debt 2023 - - -
P/E ratio 2023 4,61x
Yield 2023 3,71%
Capitalization 106 B 733 M 733 M
Capi. / Sales 2023 0,18x
Capi. / Sales 2024 0,17x
Nbr of Employees 8 106
Free-Float 66,5%
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Consensus
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Mean consensus BUY
Number of Analysts 1
Last Close Price 4 040,00 JPY
Average target price 9 000,00 JPY
Spread / Average Target 123%
EPS Revisions
Managers and Directors
Isao Tsukamoto Chairman & Chief Executive Officer
Ryoichi Kado Manager-AM Sales
Eiji Kawamura Director & General Manager-Administration
Susumu Miyoshi Independent Outside Director
Akira Tamura Independent Outside Director
Sector and Competitors