Marubun : FY2022 3Q Supplementary Material

Supplementary Financial Information for the third quarter of fiscal year ending March 2023

Contents	・・・・ P.1
Consolidated Statement of Income
Consolidated Sales by Segment	・・・・ P.1
Consolidated Balance Sheets	・・・・ P.2
Consolidated Statements of Cash Flows	・・・・ P.2
Consolidated Statement of Income (Forecast)	・・・・ P.3
Consolidated Statements of Income (Quarterly）	・・・・ P.4
Consolidated Sales by Segment (Quarterly）	・・・・ P.4
Consolidated Balance Sheets (Quarterly）	・・・・ P.5
Consolidated Statements of Cash Flows (Quarterly）	・・・・ P.5

January 31, 2023

https://www.marubun.co.jp/en/ir/ (IR Website)

Information on future performance contained within this document material, such as the results forecasts, is based on the data available and assumptions judged to be reasonable as of when the Company prepared this docment material.

Consolidated Statement of Income

	(Millions of Yen)	FY2021	FY2022	Increase
		21/4-12	22/4-12
		/Decrease
		Results	Results
	Net Sales	120,873	163,236	42,363
	Electronic Devices	87,542	125,611	38,069
	Electronic Systems	32,173	36,111	3,938
	Electronic Solutions	1,157	1,514	357
	Cost of Sales	106,580	142,942	36,362
	Gross Profit	14,293	20,294	6,001
	Electronic Devices	8,445	14,671	6,226
	Electronic Systems	5,364	5,173	(191)
	Electronic Solutions	483	449	(34)
	Selling, general and administrative expenses	10,285	11,583	1,298
	Personal expenses	6,055	6,679	624
	Other	4,229	4,904	675
	Operating profit	4,008	8,711	4,703
	Electronic Devices	2,775	7,439	4,664
	Electronic Systems	1,159	1,438	279
	Electronic Solutions	76	(163)	(239)
	Non-operating income	158	291	133
	Non-operating expenses	919	2,625	1,706
	Foreign exchange losses	533	975	442
	Ordinary profit	3,246	6,377	3,131
	Extraordinary income	116	1	(115)
	Extraordinary losses	305	5	(300)
	Profit before income taxes	3,058	6,373	3,315
	Income taxes	1,186	1,962	776
	Profit attributable to non-controlling interests	144	450	306
	Profit attributable to owners of parent	1,726	3,961	2,235
	Number of Employees	1,131	1,138	7
	Gross Profit Margin	11.8%	12.4%	0.6%
	Electronic Devices	9.6%	11.7%	2.0%
	Electronic Systems	16.7%	14.3%	-2.3%
	Electronic Solutions	41.7%	29.7%	-12.1%
	Operating Profit Margin	3.3%	5.3%	2.0%
	Electronic Devices	3.2%	5.9%	2.8%
	Electronic Systems	3.6%	4.0%	0.4%
	Electronic Solutions	6.6%	-	-
	Ordinary Profit Margin	2.7%	3.9%	7.4%
	Net Profit Margin	1.4%	2.4%	5.3%

Consolidated Sales by Segment

(Millions of Yen)	FY2021	FY2022	Increase
	21/4-12	22/4-12
	/Decrease
	Results	Results
Total Electronic Devices	87,542	125,611	38,069
Semiconductors	61,818	93,375	31,557
Analog IC	23,705	36,328	12,623
Memory IC	4,096	5,335	1,239
Micro-Processor	3,856	5,977	2,121
Special-Use IC	24,657	35,718	11,061
Custom IC	5,472	9,982	4,510
Other	30	32	2
Electronic Components	25,724	32,235	6,511
Total Electronic Systems	32,173	36,111	3,938
Space & Defense Electronics	3,005	3,840	835
Industrial Equipment	13,364	13,465	101
Laser Equipment	3,546	4,950	1,404
Medical Equipment	12,256	13,854	1,598
Total Electronic Solutions	1,157	1,514	357
ICT Solution	1,088	1,456	368
AI & Robotics	68	57	(11)
Total Net Sales	120,873	163,236	42,363

※Due to the change to a three-division system from fiscal 2022, figures for fiscal 2021 after the reorganization of the three divisions are listed.

1

Consolidated Statement of Income

	(Millions of Yen)	FY2021	FY2022	Increase
		21/10-12	22/10-12
		/Decrease
		Results	Results
	Net Sales	40,298	62,214	21,916
	Electronic Devices	29,692	49,291	19,599
	Electronic Systems	10,190	12,208	2,018
	Electronic Solutions	415	715	300
	Cost of Sales	35,422	54,628	19,206
	Gross Profit	4,876	7,586	2,710
	Electronic Devices	2,995	5,545	2,550
	Electronic Systems	1,704	1,821	117
	Electronic Solutions	176	219	43
	Selling, general and administrative expenses	3,443	4,142	699
	Personal expenses	1,991	2,249	258
	Other	1,452	1,893	441
	Operating profit	1,432	3,443	2,011
	Electronic Devices	1,124	2,790	1,666
	Electronic Systems	272	642	370
	Electronic Solutions	37	10	(27)
	Non-operating income	77	129	52
	Non-operating expenses	368	(1,669)	(2,037)
	Foreign exchange losses	253	(2,516)	(2,769)
	Ordinary profit	1,142	5,241	4,099
	Extraordinary income	94	(0)	(94)
	Extraordinary losses	300	2	(298)
	Profit before income taxes	936	5,239	4,303
	Income taxes	395	1,587	1,192
	Profit attributable to non-controlling interests	70	160	90
	Profit attributable to owners of parent	470	3,491	3,021
	Gross Profit Margin	12.1%	12.2%	0.1%
	Electronic Devices	10.1%	11.2%	1.2%
	Electronic Systems	16.7%	14.9%	-1.8%
	Electronic Solutions	42.4%	30.6%	-11.8%
	Operating Profit Margin	3.6%	5.5%	2.0%
	Ordinary Profit Margin	2.8%	8.4%	18.7%
	Net Profit Margin	1.2%	5.6%	13.8%

Consolidated Sales by Segment

(Millions of Yen)	FY2021	FY2022	Increase
	21/10-12	22/10-12
	/Decrease
	Results	Results
Total Electronic Devices	29,693	49,291	19,598
Semiconductors	20,553	37,789	17,236
Analog IC	7,487	13,877	6,390
Memory IC	1,358	1,755	397
Micro-Processor	1,251	1,991	740
Special-Use IC	8,451	15,425	6,974
Custom IC	1,985	4,700	2,715
Other	19	37	18
Electronic Components	9,139	11,502	2,363
Total Electronic Systems	10,190	12,208	2,018
Space & Defense Electronics	1,076	1,543	467
Industrial Equipment	3,697	4,845	1,148
Laser Equipment	1,233	1,890	657
Medical Equipment	4,183	3,928	(255)
Total Electronic Solutions	417	715	298
ICT Solution	394	694	300
AI & Robotics	22	20	(2)
Total Net Sales	40,300	62,214	21,914

※Due to the change to a three-division system from fiscal 2022, figures for fiscal 2021 after the reorganization of the three divisions are listed.

2

Consolidated Statement of Income（Full Year）

	(Millions of Yen)	FY2021	FY2022	Increase
			Results	Forecast	/Decrease
	Net Sales	167,794	220,000	52,206
	Electronic Devices	117,442	163,750	46,308
	Electronic Systems	48,230	53,500	5,270
	Electronic Solutions	2,121	2,750	629
	Cost of Sales	147,542	193,500	45,958
	Gross Profit	20,251	26,500	6,249
	Electronic Devices	11,369	17,000	5,631
	Electronic Systems	8,004	8,550	546
	Electronic Solutions	876	950	74
	Selling, general and administrative expenses	14,257	16,500	2,243
	Operating profit	5,994	10,000	4,006
	Electronic Devices	3,638	7,650	4,012
	Electronic Systems	2,040	2,300	260
	Electronic Solutions	318	50	(268)
	Non-operating income		269	500	231
	Non-operating expenses	2,156	3,500	1,344
	Ordinary profit	4,106	7,000	2,894
	Extraordinary income	266	5	(266)
	Extraordinary losses	524	5	(524)
	Profit before income taxes	3,848	7,000	3,152
	Income taxes	1,185	2,200	1,015
	Profit attributable to non-controlling interests	225	450	225
	Profit attributable to owners of parent	2,437	4,350	1,913
	Gross Profit Margin	12.1%	12.0%	0.0%
	Electronic Devices	9.7%	10.4%	0.7%
	Electronic Systems	16.6%	16.0%	-0.6%
	Electronic Solutions	41.3%	34.5%	-6.8%
	Operating Profit Margin	3.6%	4.5%	1.0%
	Electronic Devices	3.1%	4.7%	1.6%
	Electronic Systems	4.2%	4.3%	0.1%
	Electronic Solutions	15.0%	1.8%	-13.2%
	Ordinary Profit Margin	2.4%	3.2%	0.7%
	Net Profit Margin	1.5%	2.0%	2.0%

3

Consolidated Statements of Income (Quarterly）

(Millions of Yen)

		FY2021
1Q	2Q	3Q	4Q

Full Year

FY2022

1Q 2Q 3Q

Net Sales	37,347	43,226	40,298	46,920	167,794	46,156	54,865	62,214
Electronic Devices	27,505	30,344	29,692	29,899	117,442	35,409	40,910	49,291
Electronic Systems	9,581	12,401	10,190	16,057	48,230	10,425	13,477	12,208
Electronic Solutions	261	480	415	963	2,121	320	478	715
Cost of Sales	33,013	38,143	35,422	40,962	147,542	40,439	47,874	54,628

Gross Profit	4,334	5,083	4,876	5,957	20,251	5,716	6,991	7,586
Electronic Devices	2,692	2,757	2,995	2,924	11,369	4,008	4,722	5,941
Electronic Systems	1,552	2,107	1,704	2,640	8,004	1,618	2,129	1,425
Electronic Solutions	89	217	176	392	876	89	140	218
Selling, general and administrative expenses	3,258	3,583	3,443	3,972	14,257	3,691	3,748	4,142

Operating profit	1,076	1,499	1,432	1,985	5,994	2,024	3,243	3,443
Electronic Devices	912	738	1,124	863	3,638	2,012	2,636	2,790
Electronic Systems	193	693	272	881	2,040	131	664	642
Electronic Solutions	(28)	68	37	242	318	(117)	(55)	10
Non-operating income	50	29	77	110	269	54	107	129
Non-operating expenses	121	429	368	1,237	2,156	2,331	1,962	(1,669)

Ordinary profit	1,005	1,099	1,142	859	4,106	(252)	1,388	5,241
Extraordinary income	22	0	94	150	266	1	0	(0)
Extraordinary losses	1	3	300	219	524	0	2	2
Profit before income taxes	1,026	1,095	936	790	3,848	(251)	1,386	5,239
Income taxes	405	386	395	(1)	1,185	(20)	395	1,587
Profit attributable to non-controlling interests	63	10	70	81	225	119	169	160
Profit attributable to owners of parent	557	698	470	710	2,437	(350)	820	3,491
Gross Profit Margin	11.6%	11.8%	12.1%	12.7%	12.1%	12.4%	12.7%	12.2%
Electronic Devices	9.8%	9.1%	10.1%	9.8%	9.7%	11.3%	11.5%	12.1%
Electronic Systems	16.2%	17.0%	16.7%	16.4%	16.6%	15.5%	15.8%	11.7%
Electronic Solutions	-	-	-	-	-	27.8%	29.3%	30.5%
Operating Profit Margin	2.9%	3.5%	3.6%	4.2%	3.6%	4.4%	5.9%	5.5%
Ordinary Profit Margin	2.7%	2.5%	2.8%	1.8%	2.4%	-	2.5%	8.4%
Net Profit Margin	1.5%	1.6%	1.2%	1.5%	1.5%	-	1.5%	5.6%

Consolidated Sales by Segment (Quarterly）

(Millions of Yen)			FY2021				FY2022
	1Q	2Q	3Q	4Q	Full Year	1Q	2Q	3Q
Total Electronic Devices	27,505	30,344	29,692	29,899	117,442	35,409	40,910	49,291
Semiconductors	19,988	21,276	20,554	20,535	82,353	25,463	30,122	37,789
Analog IC	7,622	8,595	7,487	8,100	31,806	10,658	11,792	13,877
Memory IC	1,339	1,398	1,358	1,668	5,764	1,833	1,746	1,755
Micro-Processor	1,346	1,258	1,251	1,217	5,074	1,677	2,308	1,991
Special-Use IC	7,894	8,311	8,451	8,637	33,294	8,810	11,483	15,425
Custom IC	1,734	1,753	1,985	920	6,393	2,469	2,811	4,700
Other	50	(39)	19	(10)	19	14	(20)	37
Electronic Components	7,516	9,068	9,139	9,364	35,088	9,945	10,787	11,502
Total Electronic Systems	9,581	12,401	10,190	16,057	48,230	10,425	13,477	12,208
Space & Defense Electronics	749	1,180	1,076	1,482	4,488	1,231	1,065	1,543
Industrial Equipment	4,173	5,494	3,697	5,364	18,729	3,641	4,978	4,845
Laser Equipment	1,012	1,300	1,233	1,747	5,294	1,337	1,722	1,890
Medical Equipment	3,647	4,425	4,183	7,462	19,719	4,216	5,710	3,928
Total Electronic Solutions	261	480	415	963	2,121	320	478	715
ICT Solution	240	453	394	914	2,003	304	456	694
AI & Robotics	20	26	22	48	117	16	21	20
Total Net Sales	37,347	43,226	40,298	46,920	167,794	46,156	54,865	62,214

4