Matsuo Electric : March 31.2023 Financial Report

Balance	Sheets
as of March	31,2023
Assets		Thousands of yen
Current assets
Cash and deposits		2,057,297
Notes receivable - trade		29,208
Electronically recorded monetary claims - operating	490,896
Accounts receivable - trade		809,649
Finished goods		556,602
Work in process		388,966
Raw materials and supplies		387,617
Prepaid expenses		18,156
Other		35,273
Total current assets		4,773,669
Non-current assets
Property, plant and equipment
Buildings, net		363,434
Structures, net		12,454
Machinery and equipment, net		487,074
Vehicles, net		299
Tools, furniture and fixtures, net		79,670
Land		687,308
Leased assets, net		107,234
Construction in progress		18,106
Total property, plant and equipment		1,755,581
Intangible assets
Leasehold interests in land		21,411
Software		165,878
Other		1,485
Total intangible assets		188,775
Investments and other assets
Investment securities		15,000
Investments in capital		200
Long-term prepaid expenses		6,414
Deferred tax assets		163,710
Other		20,315
Total investments and other assets		205,639
Total non-current assets		2,149,996
Total assets		6,923,666

Balance	Sheets
as of March	31,2023
Liabilities	Thousands of yen
Current liabilities
Notes payable - trade	20,681
Electronically recorded obligations - operating	228,761
Accounts payable - trade	209,334
Short-term borrowings	1,430,000
Current portion of bonds payable	22,600
Current portion of long-term borrowings	197,491
Lease liabilities	22,206
Accounts payable	378,467
Accrued expenses	170,506
Income taxes payable	16,589
Deposits received	8,400
Notes payable - facilities	75,584
Total current liabilities	2,780,622
Non-current liabilities
Bonds payable	75,900
Long-term borrowings	967,856
Long-term accounts payable - other	236,720
Lease liabilities	96,219
Provision for retirement benefits	477,810
Asset retirement obligations	7,908
Total non-current liabilities	1,862,413
Total liabilities	4,643,036
Net assets
Shareholders' equity
Share capital	2,469,365
Capital surplus
Legal capital surplus	552,439
Total capital surplus	552,439
Retained earnings
Other retained earnings
Retained earnings brought forward	(738,890)
Total retained earnings	(738,890)
Treasury shares	(2,285)
Total shareholders' equity	2,280,629
Total net assets	2,280,629
Total liabilities and net assets	6,923,666

Statement of Income

Fiscal year ended March	31, 2023
	Thousands of yen
Net sales	4,649,491
Cost of sales	3,175,366
Gross profit	1,474,124
Selling, general and administrative expenses	927,281
Operating profit	546,843
Non-operating income
Interest income	36
Dividend income	500
Foreign exchange gains	2,515
Other	2,084
Total non-operating income	5,135
Non-operating expenses
Interest expenses	20,416
Interest expenses on bonds	421
Other	2,750
Total non-operating expenses	23,588
Ordinary profit	528,390
Extraordinary losses
Loss on retirement of non-current assets	30,511
Loss related to the antitrust law	267,469
Total extraordinary losses	297,980
Profit before income taxes	230,409
Income taxes - current	8,806
Income taxes - deferred	(85,028)
Total income taxes	(76,222)
Profit	306,632

Statement of Cash Flows

Fiscal year ended March	31, 2023
	Thousands of yen
Cash flows from operating activities
Profit before income taxes	230,409
Depreciation	170,755
Loss related to the antitrust law	267,469
Loss on retirement of non-current assets	30,511
Increase (decrease) in provision for retirement benefits	2,592
Increase (decrease) in accounts payable - bonuses	(2,084)
Increase (decrease) in allowance for doubtful accounts	(1,323)
Interest and dividend income	(536)
Interest expenses	20,837
Decrease (increase) in trade receivables	(9,026)
Decrease (increase) in inventories	(2,526)
Increase (decrease) in trade payables	(30,899)
Increase (decrease) in accrued consumption taxes	(19,824)
Decrease (increase) in other current assets	(22,963)
Increase (decrease) in other current liabilities	97,015
Other, net	(8,079)
Subtotal	722,328
Interest and dividends received	536
Interest paid	(21,129)
Loss related to the antitrust law paid	(407,893)
Income taxes paid	(49,504)
Net cash provided by (used in) operating activities	244,336
Cash flows from investing activities
Payments into time deposits	(720,000)
Proceeds from withdrawal of time deposits	720,000
Purchase of property, plant and equipment	(270,422)
Purchase of intangible assets	(3,634)
employees	1,025
Other, net	4,911
Net cash provided by (used in) investing activities	(268,119)
Cash flows from financing activities
Proceeds from long-term borrowings	400,000
Repayments of long-term borrowings	(111,336)
Redemption of bonds	(22,600)
Repayments of lease liabilities	(23,310)
Purchase of treasury shares	(145)
Net cash provided by (used in) financing activities	242,608
Net increase (decrease) in cash and cash equivalents	218,825
Cash and cash equivalents at beginning of period	1,118,472
Cash and cash equivalents at end of period	1,337,297