加賀電子（8154） – Consolidated Financial Results for the Fiscal Year ended March 2022

IFor Institutional Investors/AnalystssSCNORTCELEAGAKDTLOC ,.. Consolidated Financial Resultsfor the Fiscal Year ended March 2022加賀電子株式会社KAGA ELECTRONICS CO., LTD.May 12, 2022TSE Prime Market 8154Summary Net sales: Driven by the core electronic components business, robust demand continued as production activities recovered in manufacturing industries both in Japan and overseas. Net sales grew significantly, achieving a record high for the first time in two years.Results for FY2022/3 Operating income: Increased significantly as a result of increased gross profit due to higher sales and an improved profit margin, as well as continued efforts toward workstyle reforms and cost reductions amid the COVID-19 pandemic, achieving a record high for the third consecutive fiscal year.FY2023/3earnings forecastsShareholderReturnyear. Net income: Despite the absence of the 7.96 billion yen “gain on bargain purchase” posted as extraordinary income in the previous fiscal year, net income increased significantly thanks to expanded revenue in core businesses, achieving a record high for the second consecutive fiscal year. Economic situation: The business outlook remains cloudy both in Japan and overseas due to factors such as the renewed spread of COVID-19 due to variant strains, the future situation in Ukraine, and rising prices of crude oil and other resources. Industry trends: Although the supply of semiconductors and electronic parts remains tight for the foreseeable future, demand for automobiles, communication equipment, and home appliances is expected to continue to grow. Company’s outlook: Maintain the momentum of growth in net sales and operating income by focusing on expanding revenue in key areas such as the automotive, industrial equipment, and medical fields. FY2022/3: The year-end dividend was revised upward to 75 yen per share due to the addition of a 10-yen “extraordinary dividend” to the previous forecast of 65 yen (40 yen in ordinary dividends + 25-yen extraordinary dividend).*The full-year dividend is 120 yen per share, a 40-yen increase from the previous fiscal FY2023/3: Ordinary dividends were increased by 20 yen to 140 yen per share (70 yen for both the interim and year-end dividends). In addition, a 10-yen “55th anniversary commemorative dividend” will be paid as a year-end dividend. Accordingly, the full-year dividend is planned to be 150 yen per share, an increase of 30 yen.1Financial Highlights for FY2022/3 （million yen）FY2021/3ResultsFY2022/3ResultsFY2022/3Previous ForecastsvsForecastsYoY (announced on Feb. 3, 2022)422,365495,82717.4% 475,0004.4%47,936 11.3%60,547 12.2% 26.3%36,4698.6%39,6328.0% 8.7%ーーNet salesGross profitSG&AOperating income11,4672.7%20,9154.2% 82.4%17,5003.7% 19.5%Ordinary income11,2412.7%21,4564.3% 90.9%18,0003.8% 19.2%Profit attributable toowners of parentEPS（Yen）ROE11,3992.7%15,4013.1% 35.1%12,0002.5% 28.4%415.0713.5%576.46ーー449.1315.7%2.2pt12.3%ーーー3.4ptーー2Financial Results by Business Segment for FY2022/3 （million yen）FY2021/3ResultFY2022/3ResultFY2022/3vsYoYPrevious ForecastsForecasts (announced on Feb. 3, 2022) 353,454433,85222.7% 414,0004.8%8,1512.3% 18,1074.2% 122.1% 14,8003.6% 22.4%48,38939,616-18.1% 40,000-1.0%2,4825.1%2,0855.3% -16.0%5.0%4.3%2,9322,767-5.6%2639.0%-26-1.0%ー2006.7%17,58919,59011.4% 18,0002,0003,0004742.7%6263.2% 32.0%5002.8% 25.2%422,365495,82717.4% 475,0004.4%11,4672.7% 20,9154.2% 82.4% 17,5003.7% 19.5%Note: Figures of each segment income are not inter-segment adjusted.Total amount is inter-segment adjusted (operating income).-7.8%ー8.8%3ElectroninComponentInformationEquipmentSoftwareOthersTotalNet salesSegmentincomeNet salesSegmentincomeNet salesSegmentincomeNet salesSegment incomeNet salesSegmentincomeFinancial Results by Company for FY2022/3 （million yen）FY2021/3ResultsFY2022/3ResultsYoYFY2022/3Previous ForecastsvsForecasts (announced on Feb. 3, 2022) KagaElectronics243,897281,075265,00035,27314.5%41,767 14.9%38,300 14.5%11,0834.5%15,4615.5%13,0008.1%18.9%149,455145,000Kaga FEIGross rofit14,6909.8%13,5009.3%131,93210,30736246,5352,36567.8%0.3%5.1%0.0%3,6542.4%907.2%2,6001.8%40.5%65,2964,2476.5%1,9373.0%65,0004,2006.5%1,9003.3%TotalGross rofit47,93611.3%60,547 12.2%56,000 12.2%422,365495,827475,00011,4672.7%20,9154.2%17,5003.7%19.5%Note: With respect to gross profit and operating income, figures presented above are before consolidation adjustments between the three companies. Net salesGross ProfitoperatingincomeNet salesoperatingincomeNet salesoperatingincomeNet salesoperatingincomeExcelGross rofit15.2%18.4%39.5%13.3%42.5%40.3%79.5%ー17.4%26.3%82.4%6.1%9.1%3.1%8.8%0.5%1.1%1.9%4.4%8.1%4Effect of M&A for FY2022/3＊ EXCEL’s actual results for FY2021/3 do not include results of overseas subsidiaries’ FY2021/Jan-Mar period.（million yen）Net SalesGross profit / Gross profit marginThere was a significant increase in net sales in all three companies, driven by the electronic components business.Profit grew for all three companies thanks to improved profit margins and increased gross profit in line with higher sales. 422,365 +37,177+17,523 +18,760 495,827 +73,462+6,494+4,382+1,88160,547+12,61047,936 14.9%11.3%14.5%7.8%5.1%9.8%6.5%12.2%FY2021/3ResultKagaElectronicsKagaFEIExcelFY2022/3ResultFY2021/3ResultKagaElectronicsKagaFEIExcelFY2022/3ResultFY2022/3FY2022/3SG&A / SG&A ratioOperating income / Operating income marjinAlthough expenses increased with growth in sales, SG&A ratios fell.Higher expenses were absorbed by the increase in gross profit, maintaining increased income. Operating income margins also increased significantly.+956 -54 39,632 +3,162+2,2609.5%8.6%7.2%36,469 10.0%7.5%4.8%8.0%3.3%+3,291 +1,930 20,915+9,4482.4%3.0%4.2%11,467 +4,3785.5%4.5%0.3%0.0%2.7%FY2021/3ResultKagaElectronicsKagaFEIExcelFY2022/3ResultFY2021/3ResultKagaElectronicsKagaFEIExcelFY2022/3ResultFY2022/3yen(note) With respect to gross profit and operating income, figures presented above are before consolidation adjustments between the two companies. For reference, after consolidation adjustments, gross profit stood at -157million yen, and operating income came to -137 million 5FY2022/3Financial Highlights: Electronic Component 2020年3月Net sales/Segment incomeYoY（Million Yen)//Net salesSegment income433,852 Net sales Segment Income＋80,398million Yen 22.7％Up＋9,956million Yen122.1％Up353,454 500 000450 000400 000350 000300 000250 000200 000150 000100 000500 00018,107 8,151 FY2021/3ResultsFY2022/3Results500 00400 00300 00200 00100 000・Strong sales continued in the components sales business throughout the period as a result of previously capturing demand from customers in a wide range of industries.・Despite supply shortages of some parts, the Company utilized the strengths of its procurement network as an independent trading company to maintain widespread sales quantities, which also boosted performance.・Sales in the EMS business were solid, especially of automotive/medical products and industrial equipment.・Despite prolonged lockdowns to combat the renewed spread of COVID-19 and part shortages, efforts were made to minimize their impact by implementing thorough process control under close cooperation with customers.6Financial Highlights: Information Equipment Net sales/Segment incomeYoY（Million Yen)//Net salesSegment income800 0 Net sales Segment Income-8,772million Yen18.1％Down-396million Yen16.0％Down・Although sales of PCs to educational institutions and PC peripherals such as security software were robust, sales of PCs to corporations were subdued as a result of the abatement of remote working and product supply difficulties.・The LED installation business struggled due to extensions of construction periods caused by difficulty procuring materials/equipment and delivery delays.550 00500 00450 00400 00350 00300 00250 00200 00150 00100 0048,389 39,616 2,482 2,085 FY2021/3ResultsFY2022/3Results700 0600 0500 0400 0300 0200 0100 007ReferenceFinancial Highlights (3 months)（million yen）FY2021/34Q ResultsFY2022/33Q ResultsFY2022/34Q ResultsYoYQoQ128,099129,675143,14311.7%10.4%14,28911.2%15,62812.1%17,78612.4%24.5%13.8%10,3398.1%9,2707.1%11,5298.1%11.5%24.4%Net salesGross profitSG&AOpearating income3,9503.1%6,3574.9%6,2574.4%58.4%-1.6%Ordinary income4,0103.1%6,4345.0%6,5694.6%63.8%2.1%Profit attributable to owners ofparent-1,329-1.0%4,7903.7%4,9863.5%EPS-48.38182.57189.99ーー4.1%ー8ReferenceFinancial Results by Business Segment (3 months)FY2021/34Q ResultsFY2022/33Q ResultsFY2022/34Q ResultsYoYQoQ（million yen）SoftwareNet salesElectronicComponentsInformationEquipmentOthersTotalNet sales106,750117,005122,44014.7%4.6%Segment income2,7322.6%5,8785.0%5,1054.2%86.8%-13.1%Net sales14,4517,58713,315-7.9%75.5%Segment income5.0%4.0%6.5%19.2%184.2%72892715630560386992683-0.1%53.5%Segment income16.9%-0-0.1%9.0%-46.9%ーNet sales5,9694,4786,4608.2%44.2%Segment income3255.5%1523.4%1522.4%-53.0%0.1%Net sales128,099129,675143,14311.7%10.4%Segment income3,9503.1%6,3574.9%6,2574.4%58.4%-1.6%Note: Figures of each segment income are not inter-segment adjusted.Total amount is inter-segment adjusted (operating income).9ReferenceFinancial Results by Company（３months）（million yen）FY2021/34QResultsFY2022/33QResultsFY2022/34QResultsYoYQoQKagaElectronicsNet salesGross Profit73,74872,42310,488 14.5% 10,839 14.7% 12,077 14.7% +15.3% +11.4%-7.2%+13.3% +11.3%4,360 5.3% +32.0%82,0543,3044,6984.6%6.4%Kaga FEIGross Profitoperating incomeNet salesoperating incomeNet salesExcelGross Profitoperating income39,5113,06450616,1637331287.8%1.3%4.5%0.8%37,87643,338+9.7% +14.4%3,945 10.4%3.6%1,3514,419 10.2% +44.2% +12.0%-8.6%1,235 2.9% +143.8%+9.8%-1.7%17,7504.7%1.7%1,293 7.3% +76.3% +52.1%662 3.7% +417.1% 114.6%+11.7% +10.4%143,14318,050850308Net sales128,099129,675TotalGross Profitoperating income14,289 11.2% 15,628 12.1% 17,786 12.4% +24.5% +13.8%-1.6%6,257 4.4% +58.4%3,9506,3573.1%4.9%Note: With respect to gross profit and operating income, figures presented above are before consolidation adjustments between the three companies. 10ReferenceEffect of M&As (3months)Net SalesGross profit / Gross profit marginThere was a significant increase in net sales in all three companies, driven by the electronic components business.Profit grew for all three companies thanks to improved profit margins and increased gross profit in line with higher sales. （million yen）128,099 +9,630+3,826 +1,586 143,143 +15,043+1,355 +559 17,786+3,49614,289 +1,58914.5%14.7%7.8%4.5%11.2%7.3%10.2%12.4%FY2021/34QResultKagaElectronicsKagaFEIExcelFY2022/34QResultFY2021/34QResultKagaElectronicsKagaFEIExcelFY2022/34QResultFY2022/3FY2022/3SG&A / SG&A ratioOperating income / Operating income marginExpenses increased with growth in sales, in addition to seasonal factors such as bonus reserves in 4Q.+614 +27 11,529 +1,189Higher expenses were absorbed by the increase in gross profit. Income increased significantly for all three companies.+1,055+728 +534 6,257+2,307+5469.5%7.2%10,339 8.1%10.0%6.3%3.5%8.1%3.4%5.3%2.9%3.7%4.4%3,950 4.6%1.3%0.8%3.1%FY2021/34QResultKagaElectronicsKagaFEIExcelFY2022/34QResultFY2021/34QResultKagaElectronicsKagaFEIExcelFY2022/34QResultFY2022/3FY2022/3(note) With respect to gross profit and operating income, figures presented above are before consolidation adjustments between the two companies. For reference, after consolidation adjustments, gross profit stood at -5 million yen, and operating income came to -0 million yen.11ReferenceFinancial Highlights: Electronic Component (3 months）Net sales/Segment incomeYoY（Million Yen)//Net SalesSegment Income117,005 122,440 106,750 140 000120 000100 000800 00600 00400 00200 0005,878 5,105 2,732 FY2021/34QResultsFY2022/33QResultsFY2022/34QResults＋15,690million Yen14.7％Up＋2,372million Yen86.8％Up＋5,435million Yen4.6％Up-772million Yen13.1％Down140 00 Net sales Segment Income120 00QoQ800 0 Net sales Segment Income100 00600 0400 0200 0012ReferenceFinancial Highlights: Information Equipment（3 months）Net sales/Segment incomeYoY（Million Yen)//Net SalesSegment Income14,451 13,315 QoQ-1,135million Yen7.9％Down＋140million Yen19.2％Up＋5,728million Yen75.5％Up＋563million Yen184.2％Up180 00160 00140 00120 00100 00800 0600 0400 0200 007,587 728 869 305 FY2021/34QResultsFY2022/33QResultsFY2022/34QResults Net sales Segment Income Net sales Segment Income400 0350 0300 0250 0200 0150 0100 0500013ReferenceChanges from Previous forecast（announced on February 3, 2022)Net salesOperating income（million yen）< by Business Segment >+19,852-383-232 +1,590495,827 +20,82717,500 +3,307+85 -226 +126 20,915+3,415475,000 FY2022/3ForecastElectronic components Information equipmentSoftwareOthersFY2022/3ResultFY2022/3ForecastElectronic components Information equipmentSoftwareOthersFY2022/3Result+16,075475,000 Note: Figures of each segment income are not inter-segment adjusted. Total amount is inter-segment adjusted (operating income).+4,455 +296 495,827 +20,82717,500 +2,461+1,054 +37 20,915 +2,467FY2022/3ForecastKaga ElectronicsKaga FEIExcelFY2022/3FY2022/3ResultFY2022/3ForecastKaga ElectronicsKaga FEIExcelFY2022/3FY2022/3ResultNote：With respect to gross profit and operating income, figures presented above are before consolidation adjustments between the three companies.. 14ReferenceSegment disclosure associated with the Medium-Term Management PlanContinuous disclosure based on current segmentation according to legal financial accounting, along with voluntary disclosure based on segmentation in line with the new Medium-Term Management PlanCurrent segmentsSegments in Medium-Term Management PlanLegal financial accountingManagement AccountingElectronic componentsInformation equipmentComponents sales business Sales of semiconductors Sales of general electronic components Sales of various kinds of devicesEMS business Electronic equipment manufacture contracting services Sales of PCs and PC peripherals Sales of home electric appliances and lighting fixtures Sales of photograph and imaging productsSoftware Production of CG video and software Sales of amusement equipment Repair and support for electronics equipment Sales of sports goodsOthersElectronic components Sales of semiconductors Sales of general electronic components Sales of various devicesEMS Electronic equipment manufacture contracting servicesCSIOthersCSI: Consumer & System Integrator Sales of PCs and PC peripherals Sales of home electric appliances and lighting fixtures Sales of photograph and imaging products Production of CG video and software Sales of amusement equipment Repair and support for electronics equipment Sales of sports goods15ReferenceFinancial Highlights by Business Segment ofthe Medium-Term Management Plan＊announced on February 3, 2022FY2021/3ResultsFY2022/3Previous Forecasts(*)FY2022/3Results（million yen）YoYvs ForecastsElectronicComponensEMSCSIOthersTotalNet sales262,318313,000325,830+24.2%+4.1%Segment income2,9611.1%8,7002.8%11,0943.4% +274.6%+27.5%Net sales99,599110,000117,828+18.3%+7.1%Segment income5,5395.6%6,4005.8%7,3566.2% +32.8%+14.9%Net sales48,38940,00039,616-18.1%-1.0%Segment income2,4825.1%2,0005.0%2,0855.3%-16.0%+4.3%Net sales12,05712,00012,552+4.1%+4.6%Segment income3873.2%4003.3%2552.0%-34.0%-36.0%Net sales422,365475,000495,827+17.4%+4.4%Segment income11,4672.7%17,5003.7%20,9154.2% +82.4%+19.5%Note : Figures of each segment income are not inter-segment adjusted.Total amount is inter-segment adjusted (operating income).16ReferenceFinancial Highlights by Business Segment ofthe Medium-Term Management Plan (3months)FY2021/34QResultsFY2022/33QResultsFY2022/34QResults（million yen）YoYvs ForecastsElectronicComponensEMSCSIOthersTotalNet sales80,40588,07992,960+15.6%+5.5%Segment income1,3041.6%3,8244.3%3,321 3.6% +154.6%-13.1%Net sales29,38331,14233,232+13.1%+6.7%Segment income1,6495.6%2,1406.9%1,893 5.7% +14.8%-11.6%Net sales14,4517,58713,315-7.9%+75.5%Segment income7285.0%3054.0%869 6.5% +19.2%+184.2%Net sales3,8582,8653,634-5.8%+26.8%Segment income2616.8%642.3%126 3.5% -51.5%+95.1%Net sales128,099129,675143,143+11.7%+10.4%Segment income3,9503.1%6,3574.9%6,257 4.4% +58.4%-1.6%Note : Figures of each segment income are not inter-segment adjusted.Total amount is inter-segment adjusted (operating income).17Balance Sheet Main ItemsTotal assetsTotal liabilities and net assets272,139+35,135272,139+35,135（million yen）237,004207,638200,179 174,331 237,004207,638166,339 +24,397Total liabilities233,984 +33,805Current assets141,942 121,388 33,306 36,825 38,155 +1,329Non-current assetsFY2020/3FY2021/3FY2022/3FY2020/3FY2021/3FY2022/386,250 95,062 105,800 +10,737Total net assets18Balance Sheet Main ItemsInventoriesAccounts receivable/Accounts payable（million yen,day）26.332.846.1 Inventory turnover75.2 62,607 +24,65864.6 93.7 89.0 79.8 68.6 120,948 +12,553A/R turnoverA/P turnover108,394 Notes and A/R37,948 31,908 91,371 79,854 86,493 +6,63970,188 InventoriesNotes and A/P 50. 030. 010. 0-10.0-30.0-50.0-70.0180 ,000160 ,000140 ,000120 ,000100 ,00080, 00060, 00040, 00020, 000090. 070. 050. 030. 010. 0-10.0-30.0-50.0100 ,00090, 00080, 00070, 00060, 00050, 00040, 00030, 00020, 00010, 00002020/3末2021/3末2022/3末notes：Inventory turnover ＝ Inventories ÷ Net Sales × 365（day）FY2020/3FY2021/3FY2022/3notes：・Notes and A/R are amounts including Electronically recorded monetary claims-operating・Notes and A/P are amounts including Electronically recorded obligations – operating・A/R turnover ＝ Notes and A/R ÷ Net sales × 365（day）・A/P turnover ＝ Notes and A/P ÷ Total purchase of goods × 365（day）19Cash and Deposits/Interest Bearing Debt/Cash FlowsCash and depositsCash flows（million yen）0.37 0.42 -0.19 -0.08 （times）D/E ratioNet D/E ratio0.48 0.10 51,171 +12,91043,38445,63638,261 41,051-4,585Interest bearing debts22,40628,736 Cash and deposits0.5 00.0 0-0.50-1.00-1.50-2.00-2.50-3.0070, 00060, 00050, 00040, 00030, 00020, 00010, 00009,999-3,651-2,453-6,851-7,5441,155-1,554-6,772Cash flows from financing activitiesCash flows from operating activitiesCash flows from investing activitiesFY2020/3note：D/E ratioFY2021/3＝ Interest bearing debts ÷ Shareholder’s equity2022/3Net D/E ratio ＝Interest bearing debts – Cash and deposits） ÷ Shareholder’s equity2020/3末202/3末2022/3末FY2020/3FY2021/3FY2022/320Major Business Indicators（million yen）Equity ratio38.4%38.8%272,139 +35,13537.7%237,004 207,638 ROE13.5%15.7%7.6%1.32.7 Total assets2.73.1Net profit margin90,967 78,284 105,680 +14,7132.6 2.6 Financial leverageShareholders’ equity2.11.81.8Total asset turnoverFY2020/3FY2021/3FY2022/3FY2020/3FY2021/3FY2022/3210.4 000.3 500.3 000.2 500.2 000.1 50350 ,000300 ,000250 ,000200 ,000150 ,000100 ,00050, 0000Forecasts for FY2023/3Forecasts for FY2023/3FY2022/3ResultsFY2023/3ForecastsYoY（million yen）Net sales495,827510,0002.9%Operating income20,9154.2%21,2004.2%1.4%Ordinary income21,4564.3%21,2004.2%-1.2%Profit attributable toowners of parentEPS（Yen）ROE15,4013.1%14,5002.8%-5.9%576.45552.42-15.7%13.0%23FY2022/3 vs FY2023/3 Factorsbehind Changes in Operating IncomePersonnel costsPacking/shipping +2,320+863+4,100-3,163+4,753-3,100+8,511Spot sales20,915Spot salesSG&ASales volumes（million yen）-1,368SG&A21,20011,467Sales volumesIncome increase: 9,448Income increase: 2852021/3Results2022/3Results2023/3Forecasts24Forecasts for FY2023/3 by Segment（million yen）ElectroniccomponentsInformationequipmentSoftwareOthersTotalFY2022/3ResultsFY2023/3ForecastsNet sales433,852447,000Segment income18,1274.2% 18,5004.1%Net sales39,61639,000Segment income2,0855.3%2,0005.1%-4.1%Net sales2,7674,000Segment income-260.1%1002.5%Net sales19,59020,000Segment income6263.2%6003.0%-4.2%Net sales495,827510,000Segment income20,9344.2% 21,2004.2%Note: Figures of each segment income are not inter-segment adjusted. Total amount is inter-segment adjusted (operating income).YoY3.0%2.2%-1.6%44.5%ー2.1%2.9%1.4%25Dividends forecasts（Shareholder Return）Basic Policy on Dividends of Surplus We shall perform stable dividends, while securing a consolidated dividend payout ratio of 25 to 35%. We shall use funds for business investments, capital investments, and M&A, etc. in order to contribute to future growth. Decisions on the acquisition of treasury shares shall be made appropriately, in consideration of capital efficiency and share price, etc.28.6%29.6%32.8%25.5% 25.6%24.1%■ Ordinary dividend■ Commemorative dividend■ Special dividendTotal return trend：45.4%Acquisition of treasury shares (JPY 1,499 mil)Total return trend：44.3%Acquisition of treasury shares (JPY 3,674 mil)35%27.2%(Forecast)27.4%20.8%25%19.3%※Including negative goodwill about JPY8 bnJPY15010 JPY120JPY80JPY70JPY70JPY8040 JPY355 30 JPY4010 30 JPY55JPY6015 40 20 40 10 60 5 5 70 10 60 20 60 80 140 FY2013ResultsFY2014ResultsFY2015ResultsFY2016ResultsFY2017ResultsFY2018ResultsFY2019ResultsFY2020ResultsFY2021ResultsFY2022Forecasts26ReferenceFinancial Highlights by Business Segment Net Sales売上高128,0995,969 927 14,451 117,0594,530 669 8,077 105,9494,120 568 10,636 104,7294,600 783 10,654 105,4064,114 730 10,745 143,1436,460 92613,315129,6754,478 603 7,587 88,690 89,816 90,624 106,750 103,782 117,005 122,440 84,1302,904 491 12,537 68,196 2021/31QResults2021/32QResults2021/33QResults2021/34QResults2022/31QResults2022/32QResults2022/33QResults2022/34QResults（million yen）TotalYoY ：QoQ ：+15,043+13,467OtherYoY ：QoQ ：+490+1,981SoftwareYoY ：QoQ ：-1+322Information equipmentYoY ：QoQ ：-1,135+5,728Electronic equipment+15,690YoY ：+5,435QoQ ：28Financial Highlights by Business Segment < Segment Income >Segment Income6,3576,276152 305 152 83869 5,878 5,124 （million yen）TotalYoY ：QoQ ：+2,326-81OtherYoY ：QoQ ：-172+0SoftwareYoY ：QoQ ：-73+83Information equipmentYoY ：QoQ ：+140+563Electronic equipmentYoY ：QoQ ：+2,372-7723,950325 156728 3,082112 20592 2,335 2,732 2,778137 131577 1,897 4,452217568 3,848103 342 3,699 3,423 1,656583 1,185 -44-1012021/31QResults2021/32QResults2021/33QResults2021/34QResults2022/31QResults2022/32QResults2022/33QResults2022/34QResults-67-42-0Note: Figures of each segment income are not inter-segment adjusted.Total amount is inter-segment adjusted (operating income).29Net Sales by Region Net Sales128,099129,675117,059143,143104,729 105,406 105,94972,142 61,266 68,562 78,484 58,143 56,619 55,1013,8274,687 6,1753,573 5,2763,467 7,4543,915 8,7214,301 8,6753,938 9,2494,718 38,070 39,038 47,212 39,477 42,770 48,498 50,690 84,13053,334 7,4191,894 21,482 2021/31QResults2021/32QResults2021/33QResults2021/34QResults2022/31QResults2022/32QResults2022/33QResults2022/34QResults（million yen）TotalYoY ：QoQ ：+15,043+13,467JapanYoY ：QoQ ：+6,342+9,921North AmericaYoY ：QoQ ：+3,972+573EuropeYoY ：QoQ ：+1,251+779AsiaYoY ：QoQ ：+3,477+2,19230Exchange Rate/FOREX SensitivityFY2021/3Results（Yen）FY2022/3Results（Yen）Net salesOperatingincomeForex Assumptionfor 2023/3(yen)（Reference）Effect of 1% change（Million Yen）USD106.06112.381,57346116.00RMB15.4817.03242918.00THB3.423.44251143.50HKD13.6814.4420814.50EUR123.70130.5010130.006031＜ｍemo＞32＜ｍemo＞33＜ｍemo＞34＜ｍemo＞35＜ｍemo＞36＜ｍemo＞37“Everything we do isfor our customers20 Kandamatsunagacho, Chiyoda-ku, Tokyo 101-8629Contact: Investor Relations & Public Relations OfficeTEL:+81-3-5657-0106 FAX:+81-3-3254-7133E-mail： webmaster@taxan.co.jp https://www.taxan.co.jp/en/■ Forward-looking statements in these materials are based on information available to management at the time this report was prepared and assumptions that management believes are reasonable. Actual results may differ significantly from these statements for a number of reasons.■ Display method in this materialNumber : Truncated less than the display unit.Ratio : After calculation in yen units, Round down one digit of Display unit.