Hosiden : Financial Results for the Fiscal Year Ended March 31, 2023 (numerical information only)

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

May 12, 2023

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2023

(Under Japanese GAAP)

Company name:	Hosiden Corporation
Listing:	Tokyo Stock Exchange
Securities code:	6804
URL:	https://www.hosiden.com/en/
Representative:	Kenji Furuhashi, President and CEO
Inquiries:	Takafumi Tsuru, Executive Officer and General Manager of President Office
Telephone:	[phone]

Scheduled date of ordinary general meeting of shareholders:	June 29, 2023
Scheduled date to commence dividend payments:	June 30, 2023
Scheduled date to file annual securities report:	June 29, 2023
Preparation of supplementary material on financial results:	Yes
Holding of financial results briefing:	Yes (for institutional investors and
	securities analysts)

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Consolidated operating results				(Percentages indicate year-on-year changes.)
	Net sales		Operating profit	Ordinary profit	Profit attributable to
		owners of parent
Fiscal year ended	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%
March 31, 2023	277,244		33.5	15,750	34.3	18,984	20.3	12,637	6.2
March 31, 2022	207,608		(11.3)	11,725	(5.3)	15,786	17.8	11,901	15.1

(Note) Comprehensive income	For the fiscal year ended March 31, 2023	14,477 million yen	[7.5%]
		For the fiscal year ended March 31, 2022	13,469 million yen	[12.9%]
	Basic earnings per	Diluted earnings	Return on equity	Ratio of ordinary	Ratio of operating
		share	per share	profit to total	profit to net sales
				assets
Fiscal year ended		Yen	Yen		%		%	%
March 31, 2023		232.88	214.93		10.3		10.8	5.7
March 31, 2022		211.57	196.32		10.4		9.5	5.6

(Reference) Share of profit (loss) of entities accounted for using equity method For the fiscal year ended March 31, 2023 - million yen

For the fiscal year ended March 31, 2022 - million yen

(2) Consolidated financial position

		Total assets	Net assets
As of		Millions of yen	Millions of yen
March 31, 2023		179,993	126,753
March 31, 2022		171,525	119,533
(Reference)	Equity
	As of March 31, 2023	126,753 million yen
	As of March 31, 2022	119,533 million yen

Equity-to-asset ratio

%

70.4

69.7

Net assets per share

Yen

2,379.08

2,175.11

(3) Consolidated cash flows

	Cash flows from	Cash flows from
	operating activities	investing activities
Fiscal year ended	Millions of yen	Millions of yen
March 31, 2023	20,765	(9,852)
March 31, 2022	(1,230)	(3,059)

Cash flows from

financing activities

Millions of yen

(7,437)

(3,748)

Cash and cash

equivalents at end of

period

Millions of yen

66,017

62,479

2. Cash dividends

		Annual dividends per share		Total cash	Payout ratio	Ratio of
	First	Second	Third			dividends to
	Fiscal		dividends
	quarter-	quarter-	quarter-	Total	(Consolidated)	net assets
	year-end	(Total)
	end	end	end			(Consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Fiscal year ended	-	10.00	-	55.00	65.00	3,587	30.1	3.1
March 31, 2022
Fiscal year ended	-	23.00	-	48.00	71.00	2,557	30.2	3.1
March 31, 2023
Fiscal year ending	-	24.00	-	24.00	48.00		30.1
March 31, 2024
(Forecast)

(Note) Revision of cash dividend forecast most recently announced: Yes

For the year-end dividend for the fiscal year ended March 31, 2023, please refer to the "Notice Regarding Dividends of Surplus" published today, on May 12, 2023.

3. Consolidated financial results forecasts for the fiscal year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

(Percentages indicate year-on-year changes.)

								Profit attributable to	Basic
	Net sales		Operating profit	Ordinary profit	earnings per
		owners of parent
								share
	Millions of		%	Millions of	%	Millions of	%	Millions of	%	Yen
	yen		yen	yen	yen
Six months ending	130,000		7.7	5,000	(50.7)	5,500	(65.8)	4,300	(60.7)	80.71
September 30, 2023
Full year	255,000		(8.0)	10,000	(36.5)	11,000	(42.1)	8,500	(32.7)	159.54

Financial results forecasts are based on the assumption of a foreign exchange rate of 134 yen per U.S. dollar.

Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None

Newly included:	- companies (Company name)
Excluded:	- companies (Company name)

1. Changes in accounting policies, changes in accounting estimates, and restatement
2. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
3. Number of issued shares (common shares)
4. 1. Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2023	63,010,084 shares
As of March 31, 2022	64,710,084 shares

(ii) Number of treasury shares at the end of the period

As of March 31, 2023	9,731,778 shares
As of March 31, 2022	9,755,041 shares

(iii) Average number of shares outstanding during the period

Fiscal year ended March 31, 2023	54,264,292 shares
Fiscal year ended March 31, 2022	56,255,530 shares

(Reference) Overview of non-consolidated financial results

1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Non-consolidated operating results			(Percentages indicate year-on-year changes.)
	Net sales	Operating profit	Ordinary profit	Profit
Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
March 31, 2023	224,764	39.6	11,059	63.2	15,380	34.6	9,442	(32.9)
March 31, 2022	161,003	(18.3)	6,775	0.9	11,424	36.3	14,064	52.8
	Basic earnings per	Diluted earnings per
	share		share
Fiscal year ended		Yen		Yen
March 31, 2023		174.01		160.53
March 31, 2022		250.01		232.03

(2) Non-consolidated financial position

		Total assets	Net assets
As of		Millions of yen	Millions of yen
March 31, 2023		138,156	91,010
March 31, 2022		133,435	88,939
(Reference)	Equity
	As of March 31, 2023	91,010 million yen
	As of March 31, 2022	88,939 million yen

Equity-to-asset ratio

%

65.9

66.7

Net assets per share

Yen

1,708.21

1,618.40

Notes:1. Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.

2. Explanation on proper use of earnings forecasts, and other special matters

The forward-looking statements about the future financial results of this document are future forecasts based on the judgment of Hosiden Corporation (the "Company") taking into account the information currently available, and the Company does not intend to make a warranty of their achievement. These forward-looking statements contain various potential risks and uncertainties, and actual results may be materially different from the forward-looking statements due to various material factors. Therefore, the Company asks not to depend highly on these forward-looking statements.

Hosiden Corporation (6804) Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

Consolidated financial statements and significant notes thereto

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2022	As of March 31, 2023
Assets
Current assets
Cash and deposits	49,794	57,418
Notes receivable - trade	1,253	1,302
Accounts receivable - trade	24,611	33,667
Securities	13,699	13,335
Merchandise and finished goods	9,923	9,691
Work in process	3,117	5,107
Raw materials and supplies	38,526	26,469
Trade accounts receivable	2,208	1,567
Other	2,482	3,346
Allowance for doubtful accounts	(45)	(27)
Total current assets	145,572	151,878
Non-current assets
Property, plant and equipment
Buildings and structures	19,577	21,462
Accumulated depreciation and impairment	(13,736)	(14,499)
Buildings and structures, net	5,840	6,962
Machinery, equipment and vehicles	25,754	26,475
Accumulated depreciation and impairment	(19,532)	(21,215)
Machinery, equipment and vehicles, net	6,221	5,259
Land	3,290	3,035
Construction in progress	777	62
Other	31,975	31,318
Accumulated depreciation and impairment	(29,546)	(29,144)
Other, net	2,429	2,174
Total property, plant and equipment	18,559	17,495
Intangible assets	451	423
Investments and other assets
Investment securities	4,809	5,643
Retirement benefit asset	267	60
Deferred tax assets	1,025	739
Other	1,130	4,039
Allowance for doubtful accounts	(290)	(287)
Total investments and other assets	6,942	10,195
Total non-current assets	25,952	28,114
Total assets		171,525	179,993

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