Sansha Electric Manufacturing : Summary of Consolidated Financial Results for the Six Months Ended September 30, 2022 (Based on Japanese GAAP)（145KB）

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Six Months Ended September 30, 2022 (Based on Japanese GAAP)

					November 8, 2022
Company name:	Sansha Electric Manufacturing Co., Ltd.
Stock exchange listing:	Tokyo
Stock code:	6882	URL https://www.sansha.co.jp
Representative:	Representative Director, President	Hajimu Yoshimura
	General Manager
Inquiries:	Corporate Planning Division	Hiroyuki Maruyama	TEL [phone]
	Operating Officer
Scheduled date to file Quarterly Securities Report:	November 9, 2022
Scheduled date to commence dividend payments:	December 2, 2022
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:	Yes	(for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)

(1) Consolidated operating results (cumulative)								Percentages indicate year-on-year changes
	Net sales				Operating profit	Ordinary profit		Profit attributable to
						owners of parent
	Millions of yen		%	Millions of yen	%	Millions of yen			%	Millions of yen		%
Six months ended September 30, 2022	12,904		21.2		307	(28.1)		252		(41.6)		134		(58.1)
Six months ended September 30, 2021	10,643		19.6		427	-		432			-		321		-
	Earnings per share		Diluted earnings per share
			Yen					Yen
Six months ended September 30, 2022			10.46					-
Six months ended September 30, 2021			22.86					-
(2) Consolidated financial position
	Total assets				Net assets	Equity ratio			Net assets per share
	Millions of yen			Millions of yen					%				Yen
As of September 30, 2022		27,876					20,298				72.8		1,579.95
As of March 31, 2022		27,146					19,810				73.0		1,541.90
2. Cash dividends
						Annual dividends per share
	1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end	Total
	Yen				Yen			Yen				Yen			Yen
Year ended March 31, 2022		-			8.00			-				17.00			25.00
Year ending March 31, 2023		-			8.00
Year ending March 31, 2023 (Forecast)									-					-			-

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Percentages indicate year-on-year changes

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per share
		owners of parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen		%	Yen
Full year	26,000	14.7	1,600	21.5	1,600	21.8	1,200		4.6	93.40

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4. Notes

1. Changes in significant subsidiaries during the six months ended September 30, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of September 30, 2022	14,950,000	shares	As of March 31, 2022	14,950,000	shares
Number of treasury shares at the end of the period
	As of September 30, 2022	2,102,122	shares	As of March 31, 2022	2,102,122	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Six months ended September 30, 2022	12,847,878	shares	Six months ended September 30, 2021	14,047,878	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2022	As of September 30, 2022
Assets
Current assets
Cash and deposits	5,026	4,665
Notes receivable - trade	838	778
Accounts receivable - trade	6,364	6,012
Electronically recorded monetary claims - operating	1,242	1,667
Merchandise and finished goods	2,634	2,985
Work in process	1,591	1,837
Raw materials and supplies	2,618	2,979
Other	562	673
Allowance for doubtful accounts	(59)	(35)
Total current assets	20,819	21,566
Non-current assets
Property, plant and equipment
Buildings and structures, net	1,866	1,754
Machinery, equipment and vehicles, net	517	426
Land	2,238	2,238
Leased assets, net	295	261
Construction in progress	79	138
Other, net	262	262
Total property, plant and equipment	5,259	5,082
Intangible assets
Goodwill	28	25
Other	114	113
Total intangible assets	143	138
Investments and other assets
Investment securities	24	25
Deferred tax assets	255	283
Retirement benefit asset	508	551
Other	135	229
Total investments and other assets	924	1,089
Total non-current assets	6,326	6,310
Total assets		27,146	27,876

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			(Millions of yen)
		As of March 31, 2022	As of September 30, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	3,470	3,715
Electronically recorded obligations - operating	337	306
Accounts payable - other	913	946
Accrued expenses	609	624
Income taxes payable	195	228
Contract liabilities	388	322
Provision for bonuses	565	595
Provision for product warranties	57	52
Provision for loss on orders received	40	175
Other	326	198
Total current liabilities	6,905	7,164
Non-current liabilities
Lease liabilities	101	100
Directors' retirement benefits payable	68	68
Deferred tax liabilities	161	131
Retirement benefit liability	52	56
Other	48	55
Total non-current liabilities	431	412
Total liabilities	7,336	7,577
Net assets
Shareholders' equity
Share capital	2,774	2,774
Capital surplus	2,698	2,698
Retained earnings	15,226	15,142
Treasury shares	(1,903)	(1,903)
Total shareholders' equity	18,795	18,711
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	5	7
Foreign currency translation adjustment	901	1,476
Remeasurements of defined benefit plans	107	103
Total accumulated other comprehensive income	1,014	1,587
Total net assets	19,810	20,298
Total liabilities and net assets		27,146	27,876

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Six months ended	Six months ended
		September 30, 2021	September 30, 2022
Net sales	10,643	12,904
Cost of sales	8,197	10,344
Gross profit	2,446	2,559
Selling, general and administrative expenses	2,018	2,252
Operating profit	427	307
Non-operating income
Interest income	2	6
Dividend income	1	0
Rental income	7	7
Gain on valuation of derivatives	-	61
Other	11	22
Total non-operating income	23	98
Non-operating expenses
Interest expenses	2	2
Loss on valuation of derivatives	1	-
Foreign exchange losses	14	150
Other	0	0
Total non-operating expenses	19	153
Ordinary profit	432	252
Profit before income taxes	432	252
Income taxes - current	91	169
Income taxes - deferred	19	(51)
Total income taxes	111	118
Profit	321	134
Profit attributable to owners of parent		321	134

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