Ryoyo Electro : Financial Review for the First Quarter Ended (April 30, 2023)

May 31, 2023

Consolidated Financial Review

for the First Quarter Ended April 30, 2023 ［Japanese standards］（Consolidated)

Company name:	RYOYO ELECTRO CORPORATION
Headquarters address:	12-22 Tsukiji 1-chome,Chuo-ku, Tokyo 104-8408 Japan
URL:	https://www.ryoyo.co.jp
Stock exchange listing:	Tokyo Stock Exchange Prime Section
Code number:	8068
Company representative:	Moritaka Nakamura, President & Chief Executive Officer
Inquiries:	Masayuki Takahashi, Executive General Manager,Administration Headquaters
	Tel: [phone]	E-mail: [e-mail]

Due date	of submitting of quarterly financial statement	: June 9, 2023
Due date	of starting delivery of dividends	: -
Supplementary	materials for the quarterly financial results	: Yes
Investor	conference for the quarterly financial results	: None
Note: Figures	are rounded down to the nearest million yen.
１．Financial	highlights for the first quarter ended April 30,	2023（2/1/2023-4/30/2023）

（１）Consolidated operating results

Note: Percentages indicated changes from the same period of previous year.

						Net sales		Operating profit		Ordinary profit
				Millions of yen	％	Millions of yen	％		Millions of yen ％
Three months ended 4/30/23			32,586		4.8			1,197	2.9	5,250	364.3
Three months ended 4/30/22			31,098	17.5			1,164 154.7	1,130	109.3
Note: Comprehensive income
Three months ended 4/30/23:	5,433	million yen	(422.0%)
Three months ended 4/30/22:	1,040	million yen	( -7.4%)
			Profit attributable to	Net income per share		Fully diluted
				owners of parent		net income per share
				Millions of yen	％			Yen				Yen
Three months ended 4/30/23					4,923	493.9			243.85		243.49
Three months ended 4/30/22					829	95.7			41.17		41.10
（２）Consolidated financial position
	Total assets				Net assets			Equity ratio		Net assets per share
	Millions of yen			Millions of yen				％			Yen
As of 4/30/23		95,840				48,945				51.0		2,422.69
As of 1/31/23		88,409				44,725				50.6		2,213.66

(Reference) Equity

Year ended 4/30/23: 48,917 million yen

Year ended 1/31/23: 44,697 million yen

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２．Dividends

		Three	Six	Nine	Year
		months	months	months	Total
		ended
		ended	ended	ended
(Base date)	Yen	Yen	Yen	Yen	Yen
Year ended	1/31/23	－	50.00	－	60.00	110.00
Year ending 1/31/24	－	－	－	－	－
Year ending 1/31/24 (Estimate)	－	80.00	－	80.00	160.00

Note: Revision to dividend forecast for this period: Yes

３．Financial forecast for the year ending January 31,2024（2/1/2023-1/31/2024） Note: Percentages indicated changes from the same period of previous year.

			Operating			Profit			Net income per
	Net sales	Ordinary profit	attributable to
	profit		share
						owners of parent
	Millions of yen	％	Millions of yen	％	Millions of yen	％	Millions of yen	％	Yen
Year ending	128,000	(1.5)	4,300	(8.4)	8,900	98.8	7,500	145.4	371.45
1/31/24
Note: Revisions to financial forecast for this period: Yes

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４．Others

（1）Important changes in subsidiaries

(Change on specific subsidiaries with changes in scope of consolidation): None

Newly added: －	Excluded: －
（2）Use of simplified accounting method and special	accounting policy for the quarterly consolidated
financial	reporting: None
（3）Changes in principles, procedures and method of	presentation for the quarterly consolidated
financial	statements

• Changes in accounting policies: None
  ② Other changes: None
  ③ Changes in accounting estimate: None
  ④ Restatement of revisions: None

（4）Number of shares outstanding (common shares)

• Number of shares of common shares issued as of: (Including treasury shares)

April	30,2023:	26,800,000	shares
January 31,2023:	26,800,000	shares

• Number of shares of treasury shares:

April	30,2023:	6,608,687	shares
January 31,2023:	6,608,536	shares

• Average number of shares outstanding as of:

April	30,2023:	20,191,385	shares
April	30,2022:	20,136,725	shares

Indication regarding the implementation status of the quarterly review procedure

This Financial Review is not subject to audit procedure under the Financial Instruments and Exchange Act.

Caution on forecast for the year ending January 31,2024

Forecasts regarding future performance in these materials are based on information available to management at the time this report was prepared. Actual results may differ significantly from these statements for a number of reasons.

※ This financial review is only the translation of Japanese version.

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Consolidated Balance Sheets

		(Millions of yen)
	As of	As of
	January 31, 2023	April 30, 2023
	Amount	Amount
（ Assets）
Current Assets
Cash and deposits	19,031	9,477
Notes and accounts receivable - trade, and contract assets	30,966	29,616
Electronically recorded monetary claims - operating	3,886	3,715
Merchandise and finished goods	23,623	20,481
Work in process	174	157
Other	1,502	1,443
Allowance for doubtful accounts	(1)	(1)
Total current assets	79,183	64,890
Non-current assets
Property, plant and equipment	226	209
Intangible assets
Goodwill	471	455
Other	361	389
Total intangible assets	832	844
Investments and other assets
Investment securities	5,308	5,992
Shares of subsidiaries and associates	97	21,096
Deferred tax assets	110	75
Retirement benefit asset	1,589	1,617
Other	1,642	1,768
Allowance for doubtful accounts	(582)	(655)
Total investments and other assets	8,166	29,895
Total non-current assets	9,225	30,949
Total assets	88,409	95,840

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Consolidated Balance Sheets

		(Millions of yen)
	As of	As of
	January 31, 2023	April 30, 2023
	Amount	Amount
（ Liabilities）
Current liabilities
Notes and accounts payable - trade	13,366	14,072
Short-term borrowings	25,817	28,137
Income taxes payable	1,423	527
Accrued consumption taxes	143	448
Provision for bonuses	857	1,133
Other	1,048	1,447
Total current liabilities	42,657	45,766
Non-current liabilities
Deferred tax liabilities	603	722
Retirement benefit liability	316	311
Other	106	93
Total non-current liabilities	1,026	1,128
Total liabilities	43,683	46,894
（Net assets）
Shareholders' equity
Share capital	13,672	13,672
Capital surplus	13,336	13,336
Retained earnings	32,000	35,711
Treasury shares	(17,068)	(17,069)
Total shareholders' equity	41,940	45,650
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	1,805	2,258
Deferred gains or losses on hedges	0	(0)
Foreign currency translation adjustment	1,124	1,179
Remeasurements of defined benefit plans	(173)	(171)
Total accumulated other comprehensive income	2,756	3,266
Share acquisition rights	28	28
Total net assets	44,725	48,945
Total liabilities and net assets	88,409	95,840

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