Marubun : Annual Results Presentation

Financial Results

the Fiscal Year Ending March 31, 2024

16 May 2024

© 2024 MARUBUN CORPORATION

Agenda

1. FY2023 Summary of Consolidated Financial Results
2. FY2024 Summary of Consolidated Financial Forecasts
3. Shareholder Returns
4. FY2022-2024Medium-termBusiness Plan Initiatives
5. About Marubun

© 2024 MARUBUN CORPORATION

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1. FY2023 Summary of Consolidated Financial Results

© 2024 MARUBUN CORPORATION

FY2023 Summary of Consolidated Financial Results

	FY2022		FY2023		YoY	Compared	▶ Net sales rose following an
						to	improvement in performance,
		Composition	Forecast		Composition	Changes
（Millions of Yen） Actual	Actual	forecast	chiefly in the Electronic
Ratio	（10/31）	Ratio
						+10,319	△3,510	Devices Business.
Net Sales	226,171	ー	240,000 236,490	ー	▶ Operating income increased
						(+4.6%)	(△1.5%)	after higher gross profit in
Gross Profit	27,264	12.1%	29,000	29,607	12.3%	+2,343	+607	yen terms due to the
(＋8.6%)	(+2.2%)	continuous depreciation of
								the yen in addition to the
SG&A	16,267	7.2%	16,500	16,623	7.0%	+356	+123	sales increase
expenses	(+2.2%)	(△0.7%)	▶ Ordinary income and profit
Operating	10,997	4.9%	12,500	12,984	5.5%	＋1,987	+484	increased despite the posting
of foreign exchange losses of
income	(＋18.1%)	(+3.9%)
								3.4 billion yen due to the
Ordinary	7,909	3.5%	5,000	5,627	2.4%	△2,282	+627	depreciation of the yen,
which continued from the
income	(△28.9%)	(+12.5%)
Profit								start of the fiscal year, and
							because of surge in interest
attribute to	5,201	2.3%	3,000	3,401	1.4%	△1,800	+401	expenses of 1.8 billion yen
owners of	(△34.6%)	(+13.4%)	associated with the rise in
parent								U.S. dollar interest rates.

© 2024 MARUBUN CORPORATION

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FY2023 Performance Summary by Business

• Electronic Devices Business

(Millions of Yen)	FY2022		FY2023		YoY Changes		▶ Increased demand for
Net sales	168,872		179,011		+10,139		semiconductors for
		(+6.0%)		consumer equipment.

• Electronic Systems Business

(Millions of Yen)	FY2022		FY2023		YoY Changes		▶ Increased demand for
							diagnostic imaging
Net sales	54,494		54,941		+447
		(+0.8%)		equipment

• Electronic Solutions Business

(Millions of Yen)	FY2022		FY2023		YoY Changes		▶ Decrease in parts for
							telecommunication
Net sales	2,805		2,536		△269
		(△9.6%)		infrastructure

© 2024 MARUBUN CORPORATION

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FY2023 Electronic Devices Business

Net Sales Breakdown by Product Category

(Millions of Yen)

168,872

42,309

10,749

49,840

7,740

7,341

50,890

179,011

33,840

16,085

55,169

7,073

6,915

59,928

Reasons for changes

Electronic Components（△8,469）

• Decrease in industrial equipment and communication equipment

Custom IC（+5,336）

• Increase in consumer equipment

Special-Use IC（+5,329）

• Increase in consumer equipment

Micro-Processor（△667）

• Same level as previous year

Memory IC（△426）

• Same level as previous year

Analog IC（+10,972）

• Increase in automobiles、PC and computer peripherals

FY2022FY2023

© 2024 MARUBUN CORPORATION

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FY2023 Electronic Devices Business Market Trend by Application

4%	4%
12%	11%
21%	20%
21%	22%

			44%
	42%

FY2022FY2023

Reasons for Changes

Communication Equipment （±0pt）

• Same level as previous year

Computer ＆ Office Equipment （△1pt）

• Same level as previous year

Industrial Equipment & Other（△1pt）

• Same level as previous year

Automobile（+0pt）

• Same level as previous year

Consumer Equipment（＋2pt）

• Increase for entertainment products

© 2024 MARUBUN CORPORATION

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FY2023 Electronic Systems Business Net Sales Breakdown by Product

(Millions of Yen)

54,49454,941

21,035

22,999

6,745	6,263

21,098

20,565

5,613	5,114
FY2022	FY2023

Reasons for changes

Medical Equipment（+1,964）

• Increase in diagnostic imaging equipment and radiation therapy equipment

Laser Equipment（△482）

• Decrease in light source components and laser material processing system

Industrial Equipment（△533）

• Decrease in electronic components assembly, inspection and analysis equipment

Space & Defense Electronics （△499）

• Decrease in electronic materials

© 2024 MARUBUN CORPORATION

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FY2023 Electronic Solutions Business Net Sales Breakdown by Product

（Millions of Yen）

2,805

1632,536

Reasons for changes

2,642

116

2,420

AI・Robotics（△47）

• Same level as previous year

ICT Solution（△222）

• Decrease in optical communication products

FY2022FY2023

© 2024 MARUBUN CORPORATION

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FY2023 Summary of Balance Sheets

		（Millions of Yen）	FY2022	FY2023	Changes Amount
Total assets	175,998	174,137	△1,861
	Current assets	166,143	162,616	△3,257
		Cash and deposits	21,253	23,823	+2,570
		Notes and accounts	59,415	50,855	△8,560
		receivable - trade
		Merchandise and	54,558	51,316	△3,242
		finished goods
		Accounts receivable -	28,914	34,847	△5,933
		other
	Noncurrent assets	9,855	11,504	+1,649
Total liabilities	122,913	117,676	△5,237
	Current liabilities	117,089	116,675	△413
		Notes and accounts	28,005	28,243	+238
		payable - trade
		Short-term	69,423	59,507	△9,916
		borrowings
		Accounts payable -	14,738	19,027	+4,289
		other
	Non-current liabilities	5,824	1,018	△4,806
Total net assets	53,084	56,433	+3,349

• The total assets decreased by 1.8 billion yen from the end of the previous fiscal year.
• As to assets, notes and accounts receivable - trade dropped 8.5 billion yen, merchandise 3.2 billion yen and accounts receivable - other 5.9 billion yen.
• Regarding liabilities, short-term borrowings decreased 9.9 billion yen while accounts payable - other increased 4.2 billion yen.
• With respect to net assets, retained earnings grew 1.1 billion yen and accumulated other comprehensive income increased 1.7 billion yen.

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