SanRex REPORT

2022

Introduction

01 Who We are

  1. Long-termperformance
  1. SanRex products
  1. Four unique features

Special Feature

Management material issues

P.23

#1 Contribution to a carbon-free society and environmental conservation #2 Constructing infrastructure and contributing to industrial development #3 Providing safety, security and new value to improve services

#4 Strengthening of manufacturing

#5 Reduction of the environmental impact of production activities #6 Promotion of diversity and personnel in action

09

Message from the President

13

Message from the Director in charge of financial affairs

15 Value creation process

17 Progress of the medium-term management plan

41 Corporate governance

49 Financial data

  1. Stock and shareholder data
  2. Non-financialdata & Outline

Who We are

Bringing a Brighter

Future Through Power

Electronics

The Sansha Electric Manufacturing Group leads today's power electronics industry as a developer of power semiconductors for power supply control and conversion and as a specialist in a broad array of industrial power supplies for various industries, from high to low electric power.

In a society that is being urged to massively increase energy efficiency and shift to low-carbon energy to reduce greenhouse gas emissions, the Group provides quality technologies as one as a unique partner helping resolve social issues.

01

SanRex REPORT 2022

The Sansha Electric Manufacturing Group's Philosophy,

Mission and Vision

Corporate Philosophy

Valuable Products for Society Profits and Prosperity for the Company Happiness and Stability for Employees

Mission

Corporate Statement

Leading the New Power Electronics

What we

Vision

aspire to be

Global Power Solution Partner

Our Performance

Net sales

(in million yen)

23,717 24,369

21,875

22,675

19,436

2017

2018

2019

2020

2021

(FY)

Operating profit & ratio of operating profit to net sales

Operating profit (in

million yen)

Profit ratio (%)

6.2%

7.5%

5.8%

1,833

2.1%

1,474

1.2%

1,316

256

416

2017

2018

2019

2020

2021

(FY)

Return on equity (ROE)

Capital investment

(%)

(in million yen)

5.7%

6.8%

5.9%

734

720

641

2.6%

513

359

-3.5%

2017

2018

2019

2020

2021

(FY)

2017

2018

2019

2020

2021

(FY)

Basic Information (as of the end of March 2022)

Established

in 1933

Developing a power

Japan

supply for a movie

64.5%

projector that stabilizes

the image on the movie

theater screen

Women

Staff

Men

Power

semiconductor

472

composition

933

business

34.4%

employees in the Sansha

1,405

Electric Manufacturing Group

China 19.4%

Share of sales

Asia (excl. China)

10.6%

by region

North America

3.7%

Other 1.8%

Share of sales

Power supply

business

by segment

65.6%

SanRex REPORT 2022

02

Long-term performance

Introduction

01

The Sansha Electric MFG

history of growth

Since its founding in 1933, the Sansha Electric Manufacturing Group has been contributing to the development of society through the creation of products that society needs.

Nearly four decades have passed since we launched our first overseas bases in the United States and in Hong Kong in 1983.

The Group will continue to operate its business globally.

SANREX EUROPE GMBH established

(relocated to Slovenia in 2009)

1992

Germany

Kunio Shikata,

Honorary Chairman

Representative Director, President and Chairman of the Board from 1986 to 2021

1933 1948 1950

Trends in consolidated net sales and

in the ratio of overseas net sales

No matter the changes of the era, the

Consolidated net sales (right scale)

Ratio of overseas net sales (left scale)

most significant social responsibility that

1983

the Sansha Electric Manufacturing Group

has as a manufacturer is to conduct

SANREX LIMITED established

Hong Kong

manufacturing that is valuable to society.

SANREX CORPORATION established

USA

Based on the idea that continued

corporate growth is achieved by ensuring,

through manufacturing, customer

satisfaction and profit

generation, the

Group will aim to develop and to build

positive relationships with all stakeholders.

1955

1960

1965

1970

1975

1980

1985

Establishing the technological foundation that continues

Increasing bases and specialization in the

from the foundation of the Group to the present

development of power semiconductors

1933-1970

1971-1990

Business History

1933

1948

1953

1960

1970

Sansha Denki Seisakusho founded

Sansha Denki Seisakusho Co., Ltd. established

Tokyo District Office (currently Tokyo Branch) established

Headquarters Plant completed in Osaka

Fukuoka Representative Office (currently Kyushu Sales Office) established

Yukio Shikata,

founding president

1982

Shiga Plant completed in

Shiga Prefecture for the

production of power supplies

1985

Okayama Plant completed

in Okayama Prefecture for

the production of power

semiconductors

Masao Shikata,

second president

Representative Director and President from the Group's foundation to 1972

Representative Director and

President from 1972 to 1986

Product Development

1933

1937

1963

1964

1968

1970

Develops a choke coil auto transformer,

a predecessor to projector power supplies

Develops a tungar rectifier for light projectors

Tungar rectifiers for light projectors

Develops and announces our first power semiconductor and thyristor

Develops an inverter uninterruptible power supply and an electric power regulator for electric furnaces

Develops a diffusion type of triac and thyristor

Develops a rectifier for plating

1971

Develops an insulated triac that is the first in Japan

1980

Develops a thyristor module and a power transistor

for high speed switching

1982

Develops a power transistor module

1988

Develops a power MOSFET module

Insulated triac

Thyristor modules

03

SanRex REPORT 2022

1990

2000

2010

2021

Ratio of

Ratio of

Ratio of

Ratio of

overseas sales

overseas sales

overseas sales

overseas sales

(%)

9.4%

18%

32.8%

35.5%

(100 million yen)

50

400

SANREX ASIA PACIFIC PTE.

1999

2009

2016 China

DONGGUAN EASTERN

Singapore

ELECTRONICS CO., LTD. established

LTD. established

2001

Slovenia

2017

Helsinki Branch established

Finland

SANSHA

Representative office in

1994

China

Seoul Branch established

ELECTRIC MFG.

SANSHA

Slovenia opened

South Korea

(GUANGDONG)

China

(relocated to Helsinki in FY2017)

Taiwan

Taipei Branch established

CO., LTD.

ELECTRIC MFG.

established

(SHANGHAI) CO.,

LTD. established

25

200

2007

2022

Brisk capital

Russia's invasion of Ukraine

investment and

record-high net sales

1999

2008

2020

U.S.-China trade dispute &

Internet

Financial crisis

COVID-19

bubble

0

1990

1995

2000

2005

2010

2015

2021

2023

(FY)

Developing a system for increased globalization

1991-2010

1994

Shiga Plant obtains ISO 9001 certification

1996

Okayama Plant obtains ISO 9001 certification

1997

Achieves listing on the second section of the

Osaka Stock Exchange

2001

Power Supply System Manufacturing Division

obtains ISO 14001 certification

2002

Semiconductor Manufacturing Division obtains ISO

14001 certification

Towards a new age

2011-2022

2014 New building completed at the Shiga Plant

2016 SANSHA SOLUTION SERVICE CO., LTD. established in Osaka

2016 SANSHA ELECTRIC EASTERN CO., LTD. (currently SUWA SANSHA ELECTRIC CO., LTD.) established in Nagano Prefecture to commence small power supply business

2021

2022

OSAKA DENSO INDUSTRY CO., LTD. becomes a wholly owned subsidiary

Listing moves to the Standard Market of the Tokyo Stock Exchange

1991

Develops a planner type transistor module

1993

Develops a solar power conditioner

2002

Develops a power supply for light source for

projector of digital cinema

2007

Develops an IGBT chip for inverter for industrial use

2014

2015

2016

2017

Develops a photovoltaic power generation evaluation system for the National Institute of Advanced Industrial Science and Technology's Fukushima Renewable Energy Institute

Jointly develops a compact SiC power module with Panasonic Corporation

Participates in the virtual power plant (VPP) construction demonstration project

Develops a fuel cell power conditioner

2019

2020

2022

Develops a 1500 V string compatible diode module for photovoltaic power generation

Develops a power supply for storage battery tests

Releases a 1200 V SiC MOSFET discrete semiconductor

Solar power conditioner

Lamp power supply for digital

cinema projector

SiC power module

1200 V voltage-resistant SiC

Power supply for

MOSFET discrete semiconductor

storage battery tests

SanRex REPORT 2022

04

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Sansha Electric Manufacturing Co. Ltd. published this content on 28 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2022 11:19:05 UTC.