上新電機（8173） – Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (Japanese GAAP)

May 6, 2022 Stock Listing: Tokyo Phone: +81-6-6631-1161 Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (Japanese GAAP) Company name: Securities code: Representative: Contact: Joshin Denki Co., Ltd. 8173 Ryuhei Kanatani, Representative Director and President and Executive Officer Suguru Oshiro, Director and Executive Officer in Charge of Financial Strategy URL: https://www.joshin.co.jp/joshintop/ir_en.html Scheduled date of general meeting of shareholders: Scheduled date for filing of annual securities report: Supplementary documents for financial results: Financial results briefing: June 24, 2022 June 27, 2022 Yes Yes (online video) Scheduled dividend payment date: June 27, 2022 (Amounts rounded down to the nearest million yen) 1. Consolidated results for the fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022) (1) Consolidated operating results Net sales Operating income Ordinary income Year ended March 31, 2022 409,508 -8.8 8,884 -46.3 9,701 -41.4 Million yen % Million yen % Million yen % Year ended March 31, 2021 (Note) Comprehensive income: Year ended March 31, 2022: 6,175 million yen (-46.3%) Year ended March 31, 2021: 11,498 million yen (173.4%) 449,121 16,550 84.3 8.1 (% indicates year-on-year change) Net income attributable to owners of the parent Million yen 6,391 % -28.0 16,555 86.0 8,873 63.8 Net income per share Diluted net income per share ROE Ordinary income to total asset ratio Operating income to net sales ratio Year ended March 31, 2022 Year ended March 31, 2021 (Reference) Equity in net gain of affiliated companies: 331.62 Yen 238.78 Yen — — % 6.6 9.4 % 4.4 8.1 % 2.2 3.7 Year ended March 31, 2022: — million yen Year ended March 31, 2021: — million yen (2) Consolidated financial position Total assets Net assets Equity ratio Year ended March 31, 2022 Million yen 217,417 Million yen 98,641 Year ended March 31, 2021 99,303 (Reference) Shareholders’ equity: Year ended March 31, 2022: 98,641 million yen Year ended March 31, 2021: 99,303 million yen 210,321 Net assets per share Yen 3,684.75 3,711.32 % 45.4 47.2 (3) Consolidated cash flows Year ended March 31, 2022 Year ended March 31, 2021 2. Dividends Year ended March 31, 2021 Year ended March 31, 2022 Year ending March 31, 2023 (forecast) Net cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Cash and cash equivalents at end of the term Million yen 1,442 25,836 Million yen -9,573 -6,118 Million yen 1,873 -14,433 Million yen 2,360 8,618 Ratio of dividends to net assets (consolidated) % 2.1 2.1 Annual dividends per share Year-end Total Total dividends (annual) Payout ratio (consolidated) Yen 75.00 75.00 75.00 Yen 75.00 75.00 75.00 Million yen 2,011 2,011 % 22.6 31.4 28.7 End 1Q End 2Q End 3Q Yen Yen Yen — 0.00 — — 0.00 — — 0.00 — 1 (Note) Total dividends (annual) include the following amounts paid into the board incentive plan trust account. Year ended March 31, 2022: 3 million yen Year ended March 31, 2021: 4 million yen 3. Forecast of consolidated operating results for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023) (% indicates year-on-year change) Net sales Operating income Ordinary income Net income Six-month 202,000 0.6 4,000 -24.6 4,000 -34.1 2,700 -33.6 Million yen % Million yen % Million yen % Million yen % Full year 420,000 2.6 10,000 12.6 10,000 3.1 7,000 9.5 Net income per share Yen 100.86 261.49 *Notes of consolidation): None (1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in a change in the scope (2) Changes in accounting policies and changes or restatement of accounting estimates (i) Changes in accounting policies due to amendments of accounting standards, etc.: Yes (ii) Changes in accounting policies other than changes in (i): None (iii) Changes in accounting estimates: None (iv) Restatement: None (3) Shares outstanding (Common stock) (i) Number of shares outstanding (including treasury stock) as of the end of the term: 28,000,000 as of March 31, 2022 28,000,000 as of March 31, 2021 (ii) Number of shares of treasury stock as of the end of the term: 1,229,873 as of March 31, 2022 1,243,169 as of March 31, 2021 (iii) Average number of shares during the term: 26,766,071 as of March 31, 2022 26,757,006 as of March 31, 2021 below. Year ended March 31, 2022: 51,475 Year ended March 31, 2021: 65,070 Note: The number of shares of treasury stock includes the Company shares held in the board incentive plan trust account as stated (Reference) Non-consolidated results for the fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022) (1) Non-consolidated operating results (% indicates year-on-year change) Net sales Operating income Ordinary income Net income Year ended March 31, 2022 407,435 -8.2 8,428 -38.2 9,231 -32.3 Year ended March 31, 2021 443,696 8.1 13,638 73.8 13,642 75.4 Million yen % Million yen % Million yen % Million yen 6,219 6,919 % -10.1 48.0 Year ended March 31, 2022 Year ended March 31, 2021 Net income per share Diluted net income per share Yen 232.35 258.60 Yen — — 2 (2) Non-consolidated financial position Total assets Net assets Equity ratio Year ended March 31, 2022 Million yen 225,506 Million yen 87,313 Year ended March 31, 2021 84,551 (Reference) Shareholders’ equity: Year ended March 31, 2022: 87,313 million yen Year ended March 31, 2021: 84,551 million yen 202,617 Net assets per share Yen 3,261.61 3,160.01 % 38.7 41.7 * Summaries of financial results are not subject to reviews by a certified public accountant or an audit firm. * Explanations about the proper use of results forecasts and other remarks Cautionary note regarding forward-looking statements: The statements in this document concerning forecasts of financial results and other items are based on currently available information and certain assumptions that the Company considers reasonable. The achievement of such forecasts is not guaranteed by the Company. Actual results may vary significantly from such forecasts due to a variety of factors. How to obtain supplementary documents to financial results: Supplementary documents to the financial results are posted on our website. How to obtain information on financial results: A video explaining financial results will be posted on our website. 3