Matsuo Electric : September 30.2022 Financial Report

Balance Sheet

as of September 30, 2022

ASSETS	Thousands of Yen
Current assets
Cash and deposits	1,761,129
Notes and accounts receivable-trade	823,549
Electronically recorded monetary claims - operating	470,594
Finished goods	626,459
Work in process	390,462
Raw materials and supplies	357,471
Other	31,636
Allowance for doubtful accounts	(1,294)
Total current assets	4,460,010
Non-current assets
Property, plant and equipment
Land	687,308
Other, net	988,342
Total property, plant and equipment	1,675,651
Intangible assets	219,697
Investments and other assets
Investment securities	15,000
Other	113,137
Allowance for doubtful accounts	(1)
Total investments and other assets	128,136
Total non-current assets	2,023,484
Total assets	6,483,495

Balance Sheet

as of September 30, 2022

Liabilities	Thousands of Yen
Current liabilities
Notes and accounts payable-trade	249,588
Electronically recorded obligations - operating	217,611
Short-term borrowings	1,430,000
Current portion of bonds payable	22,600
Current portion of long-term borrowings	118,308
Income taxes payable	23,471
Notes payable-facilities	44,239
Other	438,905
Total current liabilities	2,544,724
Noncurrent liabilities
Bonds payable	87,200
Long-term borrowings	706,193
Long-term accounts payable - other	359,950
Provision for retirement benefits	478,444
Asset retirement obligations	7,908
Other	106,693
Total noncurrent liabilities	1,746,388
Total liabilities	4,291,113
Net assets
Shareholders' equity
Capital stock	2,469,365
Capital surplus	552,439
Retained earnings	(827,175)
Treasury shares	(2,248)
Total shareholders' equity	2,192,381
Total net assets	2,192,381
Total liabilities and net assets	6,483,495

Statement of Income

six months ended September 30, 2022

	Thousands of Yen
Net sales	2,289,353
Cost of sales	1,556,673
Gross profit	732,680
Selling,general and administrative expenses	456,372
Operating profit	276,307
Non-operating income
Interest income	18
Dividend income	500
Other	1,066
Total non-operating income	1,584
Non-operating expenses
Interest expenses	11,605
Foreign exchange losses	2,048
Other	2,210
Total non-operating expenses	15,864
Ordinary profit	262,027
Extraordinary loss
Loss on retirement of non-current assets	812
Loss related to the antitrust law	33,875
Total extraordinary losses	34,687
Profit before income taxes	227,339
Income taxes-current	8,992
Total income taxes	8,992
Net Profit	218,347

Statement of Cash Flows

six months ended September 30, 2022

	Thousands of Yen
Net cash provided by (used in) operating activities
Profit before income taxes	227,339
Depreciation	79,468
Loss related to the antitrust law	33,875
Loss on retirement of property, plant and equipment	812
Increase (decrease) in provision for retirement benefits	3,226
Increase (decrease) in accounts payable - bonuses	338
Increase (decrease) in allowance for doubtful accounts	(28)
Interest and dividend income	(518)
Interest expenses	11,605
Decrease (increase) in trade receivables	26,582
Decrease (increase) in inventories	(43,734)
Increase (decrease) in trade payables	(22,476)
Increase (decrease) in accrued consumption taxes	(37,629)
Decrease (increase) in other current assets	(1,418)
Increase (decrease) in other current liabilities	103,949
Other, net	(5,156)
Subtotal	376,238
Interest and dividends received	517
Interest paid	(11,647)
Loss related to the antitrust law paid	(177,156)
Income taxes paid	(45,442)
Net cash provided by (used in) operating activities	142,510
Net cash provided by (used in) investing activities
Payments into time deposits	(300,000)
Proceeds from withdrawal of time deposits	300,000
Purchase of property, plant and equipment	(144,692)
Purchase of intangible assets	(1,490)
Proceeds from collection of long-term loans receivable from employees	625
Other, net	(400)
Net cash provided by (used in) investing activities	(145,957)
Net cash provided by (used in) financing activities
Repayments of long-term borrowings	(52,182)
Redemption of bonds	(11,300)
Repayments of lease liabilities	(10,305)
Purchase of treasury shares	(108)
Net cash provided by (used in) financing activities	(73,895)
Net increase (decrease) in cash and cash equivalents	(77,343)
Cash and cash equivalents at beginning of period	1,118,472
Cash and cash equivalents at end of period	1,041,129