Marubun : FY2022 Supplementary Material

Supplementary Financial Information

for the fiscal year ending

March 2023

Contents	・・・・ P.1
Consolidated Statement of Income
Consolidated Sales by Segment	・・・・ P.1
Consolidated Balance Sheets	・・・・ P.2
Consolidated Statements of Cash Flows	・・・・ P.2
Consolidated Statement of Income (Forecast)	・・・・ P.3
Consolidated Sales by Segment (Forecast)	・・・・ P.3
Consolidated Statements of Income (Quarterly）	・・・・ P.4
Consolidated Sales by Segment (Quarterly）	・・・・ P.4
Consolidated Balance Sheets (Quarterly）	・・・・ P.5
Consolidated Statements of Cash Flows (Quarterly）	・・・・ P.5

May 12, 2023

https://www.marubun.co.jp/en/ir/ (IR Website)

Information on future performance contained within this document material, such as the results forecasts, is based on the data available and assumptions judged to be reasonable as of when the Company prepared this docment material.

Consolidated Statement of Income

	(Millions of Yen)	FY2021	FY2022	Increase
		Results	Results	/Decrease
	Net Sales	167,794	226,171	58,377
	Electronic Devices	117,442	168,872	51,430
	Electronic Systems	48,230	54,494	6,264
	Electronic Solutions	2,121	2,805	684
	Cost of Sales	147,542	198,907	51,365
	Gross Profit	20,251	27,264	7,013
	Electronic Devices	11,369	17,403	6,034
	Electronic Systems	8,004	8,932	928
	Electronic Solutions	876	927	51
	Selling, general and administrative expenses	14,257	16,267	2,010
	Personal expenses	8,582	9,772	1,190
	Other	5,675	6,494	819
	Operating income	5,994	10,997	5,003
	Electronic Devices	3,638	8,521	4,883
	Electronic Systems	2,040	2,438	398
	Electronic Solutions	318	42	(276)
	Non-operating income	269	454	185
	Non-operating expenses	2,156	3,542	1,386
		363	2,026	1,663
	Foreign exchange losses	1,641	1,043	(598)
	Ordinary profit(loss)	4,106	7,909	3,803
	Extraordinary income	266	1	(265)
	Extraordinary losses	524	26	(498)
	Profit(loss)before income taxes	3,848	7,884	4,036
	Income taxes	1,185	2,177	992
	Profit attributable to non-controlling interests	225	505	280
	Profit (loss) attributable to owners of parent	2,437	5,201	2,764
	Number of Employees	1,119	1,117	(2)
	Gross Profit Margin	12.1%	12.1%	0.0%
	Electronic Devices	9.7%	10.3%	0.6%
	Electronic Systems	16.6%	16.4%	-0.2%
	Electronic Solutions	41.3%	33.0%	-8.3%
	Operating Profit Margin	3.6%	4.9%	1.3%
	Electronic Devices	3.1%	5.0%	1.9%
	Electronic Systems	4.2%	4.5%	0.2%
	Electronic Solutions	15.0%	1.5%	-13.5%
	Ordinary Profit Margin	2.4%	3.5%	6.5%
	Net Profit Margin	1.5%	2.3%	4.7%

Consolidated Sales by Segment

(Millions of Yen)	FY2021	FY2022	Increase
	Results	Results	/Decrease
Total Electronic Devices	117,442	168,872	51,430
Semiconductors	82,353	126,562	44,209
Analog IC	31,826	50,890	19,064
Memory IC	5,764	7,341	1,577
Micro-Processor	5,074	7,740	2,666
Special-Use IC	33,294	49,840	16,546
Custom IC	6,393	10,749	4,356
Electronic Components	35,088	42,309	7,221
Total Electronic Systems	48,230	54,494	6,264
Space & Defense Electronics	4,488	5,613	1,125
Industrial Equipment	18,729	21,098	2,369
Laser Equipment	5,294	6,745	1,451
Medical Equipment	19,719	21,035	1,316
Total Electronic Solutions	2,121	2,805	684
ICT Solution	2,003	2,642	639
AI & Robotics	117	163	46
Total Net Sales	167,794	226,171	58,377

※Due to the change to a three-division system from fiscal 2022, figures for fiscal 2021 after the reorganization of the three divisions are listed.

1

Consolidated Balance Sheets

	(Millions of Yen)	FY2021	FY2022	Increase
		Results	Results	/Decrease
	Current assets	137,604	166,143	28,539
	Cash and deposits	25,245	21,253	(3,992)
	Notes and accounts receivable-trade	44,215	59,415	15,200
	Merchandise and finished goods	30,313	54,558	24,245
	Work in process	118	79	(39)
	Accounts receivable - other	35,087	28,914	(6,173)
	Other	2,636	1,940	(696)
	Allowance for doubtful accounts	(12)	(17)	(5)
	Noncurrent assets	10,575	9,855	(720)
	Property, plant and equipment	3,201	3,203	2
	Intangible assets	1,039	898	(141)
	Investments and other assets	6,334	5,753	(581)
	Total assets	148,179	175,998	27,819
	Current liabilities	94,746	117,089	22,343
	Notes and accounts payable-trade	21,121	28,005	6,884
	Short-term borrowings	48,672	69,423	20,751
	Current portion of long-term borrowings	50	25	(25)
	Accounts payable - other	21,855	14,738	(7,117)
	Provision for bonuses	974	1,020	46
	Other	2,072	3,875	1,803
	Non-current liabilities	5,858	5,824	(34)
	Long-term borrowings	5,025	5,000	(25)
	Retirement benefit liability	331	365	34
	Provision for retirement benefits of directors(and other officcers)	108	107	(1)
	Other	393	351	(42)
	Total liabilities	100,604	122,913	22,309
	Shareholders' equity	41,168	45,325	4,157
	Accumulated other comprehensive income	1,542	2,422	880
	Non-controlling interests	4,863	5,336	473
	Total net assets	47,574	53,084	5,510
	Total liabilities and net assets	148,179	175,998	27,819

Consolidated Statements of Cash Flows

(Millions of Yen)	FY2021	FY2022
	Results	Results
Net cash provided by (used in) operating activities	(2,948)	(18,981)
Profit(loss)bofore income taxes	3,848	7,884
Depreciation	703	693
Foreign exchange losses (gains)	4,338	4,584
Share of loss (profit) of entities accounted for using equity method	(104)	(258)
Decrease (increase) in trade receivables	7,498	(14,189)
Decrease (increase) in inventories	(4,563)	(23,771)
Increase (decrease) in trade payables	(9,763)	5,912
Other, net	(5,019)	2,490
Subtotal	(3,062)	(16,652)
Interest and dividends received	883	760
Interest paid	(358)	(1,915)
Income taxes paid	(503)	(1,185)
Income taxes refund	101	11
Net cash provided by (used in) investing activities	145	(326)
Net cash provided by (used in) financing activities	391	14,071
Effect of exchange rate change on cash and cash equivalents	830	1,202
Net increase(decrease) in cash and cash equivalents	(1,580)	(4,034)
Cash and cash equivalents at beginning of period	26,274	24,693
Cash and cash equivalents at end of period	24,693	20,658

2

Consolidated Statement of Income（Full Year）

(Millions of Yen)	FY2022	FY2023	Increase
	Results	Forecast	/Decrease
Net Sales	226,171	236,000	9,829
Electronic Devices	168,872	176,500	7,628
Electronic Systems	54,494	56,000	1,506
Electronic Solutions	2,805	3,500	695
Cost of Sales	198,907	210,500	11,593
Gross Profit	27,264	25,500	(1,764)
Electronic Devices	17,403	15,150	(2,253)
Electronic Systems	8,932	9,050	118
Electronic Solutions	927	1,300	373
Selling, general and administrative expenses	16,267	16,750	483
Operating income	10,997	8,750	(2,247)
Electronic Devices	8,521	5,950	(2,571)
Electronic Systems	2,438	2,500	62
Electronic Solutions	42	300	258
Non-operating income	454	300	(154)
Non-operating expenses	3,542	4,050	508
Ordinary profit	7,909	5,000	(2,909)
Extraordinary income	1	-	(1)
Extraordinary losses	26	-	(26)
Profit before income taxes	7,884	5,000	(2,884)
Income taxes	2,177	1,500	(677)
Profit attributable to non-controlling interests	505	500	(5)
Profit attributable to owners of parent	5,201	3,000	(2,201)
Gross Profit Margin	12.1%	10.8%	-1.2%
Electronic Devices	10.3%	8.6%	-1.7%
Electronic Systems	16.4%	16.2%	-0.2%
Electronic Solutions	33.0%	37.1%	4.1%
Operating Profit Margin	4.9%	3.7%	-1.2%
Electronic Devices	5.0%	3.4%	-1.7%
Electronic Systems	4.5%	4.5%	0.0%
Electronic Solutions	1.5%	8.6%	7.1%
Ordinary Profit Margin	3.5%	2.1%	-1.4%
Net Profit Margin	2.3%	1.3%	1.3%

Consolidated Sales by Segment (Full Year)

(Millions of Yen)	FY2022	FY2023	Increase
	Results	Forecast	/Decrease
Total Electronic Devices	168,872	176,500	7,628
Semiconductors	126,562	133,433	6,871
Analog IC	50,890	53,395	2,505
Memory IC	7,341	5,671	(1,670)
Micro-Processor	7,740	6,602	(1,138)
Special-Use IC	49,840	54,165	4,325
Custom IC	10,749	13,598	2,849
Electronic Components	42,309	43,066	757
Total Electronic Systems	54,494	56,000	1,506
Space & Defense Electronics	5,613	5,886	273
Industrial Equipment	21,098	20,317	(781)
Laser Equipment	6,745	7,185	440
Medical Equipment	21,035	22,611	1,576
Total Electronic Solutions	2,805	3,500	695
ICT Solution	2,642	2,836	194
AI & Robotics	163	662	499
Total Net Sales	226,171	236,000	9,829

3

Consolidated Statements of Income (Quarterly）

(Millions of Yen)

Net Sales

		FY2021					FY2022
1Q	2Q	3Q	4Q	Full Year	1Q	2Q	3Q	4Q	Full Year
37,347	43,226	40,298	46,920	167,794	46,156	54,865	62,214	62,935	226,171

	Electronic Devices	27,505	30,344	29,692	29,899	117,442	35,409	40,910	49,291	43,261	168,872
	Electronic Systems	9,581	12,401	10,190	16,057	48,230	10,425	13,477	12,208	18,382	54,494
	Electronic Solutions	261	480	415	963	2,121	320	478	715	1,291	2,805
	Cost of Sales	33,013	38,143	35,422	40,962	147,542	40,439	47,874	54,628	55,965	198,907
	Gross Profit	4,334	5,083	4,876	5,957	20,251	5,716	6,991	7,586	6,969	27,264
	Electronic Devices	2,692	2,757	2,995	2,924	11,369	4,008	4,722	5,178	3,494	17,403
	Electronic Systems	1,552	2,107	1,704	2,640	8,004	1,618	2,129	2,186	2,998	8,932
	Electronic Solutions	89	217	176	392	876	89	140	220	477	927
	Selling, general and administrative expenses	3,258	3,583	3,443	3,972	14,257	3,691	3,748	4,142	4,683	16,267
	Operating profit	1,076	1,499	1,432	1,985	5,994	2,024	3,243	3,443	2,285	10,997
	Electronic Devices	912	738	1,124	863	3,638	2,012	2,636	2,790	1,081	8,521
	Electronic Systems	193	693	272	881	2,040	131	664	642	999	2,438
	Electronic Solutions	(28)	68	37	242	318	(117)	(55)	10	205	42
	Non-operating income	50	29	77	110	269	54	107	129	163	454
	Non-operating expenses	121	429	368	1,237	2,156	2,331	1,962	(1,669)	917	3,542
	Ordinary profit(loss)	1,005	1,099	1,142	859	4,106	(252)	1,388	5,241	1,532	7,909
	Extraordinary income	22	0	94	150	266	1	0	(0)	0	1
	Extraordinary losses	1	3	300	219	524	0	2	2	21	26
	Profit(loss)before income taxes	1,026	1,095	936	790	3,848	(251)	1,386	5,239	1,511	7,884
	Income taxes	405	386	395	(1)	1,185	(20)	395	1,587	215	2,177
	Profit attributable to non-controlling interests	63	10	70	81	225	119	169	160	54	505
	Profit (loss) attributable to owners of parent	557	698	470	710	2,437	(350)	820	3,491	1,240	5,201
	Gross Profit Margin	11.6%	11.8%	12.1%	12.7%	12.1%	12.4%	12.7%	12.2%	11.1%	12.1%
	Electronic Devices	9.8%	9.1%	10.1%	9.8%	9.7%	11.3%	11.5%	10.5%	8.1%	10.3%
	Electronic Systems	16.2%	17.0%	16.7%	16.4%	16.6%	15.5%	15.8%	17.9%	16.3%	16.4%
	Electronic Solutions	-	-	-	-	-	27.8%	29.3%	30.8%	36.9%	33.0%
	Operating Profit Margin	2.9%	3.5%	3.6%	4.2%	3.6%	4.4%	5.9%	5.5%	3.6%	4.9%
	Ordinary Profit Margin	2.7%	2.5%	2.8%	1.8%	2.4%	-	2.5%	8.4%	2.4%	3.5%
	Net Profit Margin	1.5%	1.6%	1.2%	1.5%	1.5%	-	1.5%	5.6%	2.0%	2.3%

Consolidated Sales by Segment (Quarterly）

(Millions of Yen)

		FY2021
1Q	2Q	3Q	4Q

Full Year

		FY2022
1Q	2Q	3Q	4Q

Full Year

Total Electronic Devices	27,505	30,344	29,692	29,899	117,442	35,409	40,910	49,291	43,261	168,872
Semiconductors	19,988	21,276	20,554	20,535	82,353	25,463	30,122	37,789	33,187	126,562
Analog IC	7,673	8,556	7,508	8,090	31,826	10,673	11,772	13,914	14,530	50,890
Memory IC	1,339	1,398	1,358	1,668	5,764	1,833	1,746	1,755	2,005	7,341
Micro-Processor	1,346	1,258	1,251	1,217	5,074	1,677	2,308	1,991	1,762	7,740
Special-Use IC	7,894	8,311	8,451	8,637	33,294	8,810	11,483	15,425	14,122	49,840
Custom IC	1,734	1,753	1,985	920	6,393	2,469	2,811	4,700	767	10,749

Electronic Components	7,516	9,068	9,139	9,364	35,088	9,945	10,787	11,502	10,073	42,309
Total Electronic Systems	9,581	12,401	10,190	16,057	48,230	10,425	13,477	12,208	18,382	54,494
Space & Defense Electronics	749	1,180	1,076	1,482	4,488	1,231	1,065	1,543	1,773	5,613
Industrial Equipment	4,173	5,494	3,697	5,364	18,729	3,641	4,978	4,845	7,633	21,098
Laser Equipment	1,012	1,300	1,233	1,747	5,294	1,337	1,722	1,890	1,795	6,745
Medical Equipment	3,647	4,425	4,183	7,462	19,719	4,216	5,710	3,928	7,181	21,035
Total Electronic Solutions	261	480	415	963	2,121	320	478	715	1,291	2,805
ICT Solution	240	453	394	914	2,003	304	456	694	1,185	2,642
AI & Robotics	20	26	22	48	117	16	21	20	105	163
Total Net Sales	37,347	43,226	40,298	46,920	167,794	46,156	54,865	62,214	62,935	226,171

4