Sanden : Financial Results of 1st Quarter

Financial Results of 1st Quarter

for the Year Ending December 31, 2023

May 2023

Sanden Corporation

© 2023 SANDEN CORPORATION

Contents

Financial Results of First Quarter for the Fiscal Year Ending December 31, 2023

1. Points of the financial results

2. Summary of consolidated financial results

3. Sales by region from the automotive systems business

segment１６

1. Operating income (Year-on-year comparison)
2. Operating income (Year-on-year comparison)

© 2023 SANDEN CORPORATION

１．Points of the financial results

Financial Results for 1Q FY12/2023

	Net sales increased by 2.0-billion-yenyear-on-year. Excluding the foreign exchange
1	impact of +2.8 billion yen, net sales actually decreased by 0.8 billion yen.
In real terms, sales in Europe increased due to growth in aftermarket and truck sales,
	and sales in Asia increased in real terms due to growth in the Indian market.
	Sales in other regions declined slightly.
	Operating income decreased by 600 million yen YoY.
	Although the company was able to reduce cost of sales, SG&A expenses, and exchange rate
2	effects, it was not able to fully cover fixed costs at its plants in Thailand and France due to
unstable production caused by fluctuating customer demand.
	Net income increased ¥0.1 billion. Reversal of allowance for doubtful accounts due to partial
	collection of receivables of long-term receivables contributed to the increase.
	In Europe, semiconductor shortages continue for both customers and parts suppliers.
3	Financial instability is rising globally, and while policies by central banks in various
countries are calming things down, the impact of vehicle sales due to financial

institution failures, etc. needs to be monitored closely.

© 2023 SANDEN CORPORATION

２．Summary of consolidated financial results

Financial Results for 1Q FY12/2023

			FY2022	FY2023	Ver Previous year
			Jan～Mar 2022	Jan～Mar 2023		Ratioed
			results	results	Difference
	Sales		407	427	20	4.9%
	Operating		(10)	(16)	(6)	-65.6%
	Profit
	Ordinary		6	0	(5)	96.5%
	Profit
	Net income attributable to		4	5	1	-37.6%
	owners of the parent
	company
	Ordinary Profit
	US$		116 yen	132 yen	16 yen
	Excahnge				12 yen
	EUR		130 yen	142 yen

*Exchange rate: Average market rate

[In 100 million yen]

FY2022	Ver Previous
Oct～Dec2022	year
	Difference
477	(49)
(2)	(14)
(12)	13
8	(3)
142 yen	-
144 yen	-

© 2023 SANDEN CORPORATION

Financial Results for 1Q FY12/2023

３．Sales by region from the automotive systems business segment

Net sales 42.5 billion yen Increase2.6 billion yen

(Up 7% year-on-year) (Increase by 2.8 billion yen due to currency effects)

◼ Regional sales	[In 100 million yen]
		Europe
400								400
		+19
		146			166
200							200
+14%
0								0
		FY2022	FY2023
		Jan-Mar	Jan-Mar
		Japan
200								200
		－4
100								100
38 －11%	34
0								0

China and Asia

+5

158 163

＋3%

FY2022 FY2023

Jan-MarJan-Mar

Americas

+6

56 62

+11%

• Composition by regions

Japan	(%) is year-on-year change

8%

(-2%)

	17%	Europe
Asia	(+1%)	39%

	(+2%)
	21%
	(-2%)15%
China	(+1%)
Americas

FY2022	FY2023	FY2022	FY2023
Jan-Mar	Jan-Mar	Jan-Mar	Jan-Mar

© 2023 SANDEN CORPORATION