Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

November 11, 2022

Consolidated Financial Results

for the First Six Months Ended September 30, 2022

(Under Japanese GAAP)

Company name:

Hosiden Corporation

Listing:

Tokyo Stock Exchange

Securities code:

6804

URL:

https://www.hosiden.com/index.html

Representative:

Kenji Furuhashi, President and CEO

Inquiries:

Takafumi Tsuru, Executive Officer and General Manager of President Office

Telephone:

+81-72-993-1010

Scheduled date to file quarterly securities report:

November 11, 2022

Scheduled date to commence dividend payments:

December 2, 2022

Preparation of supplementary material on quarterly financial results: Yes

Holding of quarterly financial results briefing:

Yes (for institutional investors and

securities analysts)

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the first 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

Six months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

September 30, 2022

120,666

24.7

10,147

54.0

16,070

116.9

10,941

82.5

September 30, 2021

96,788

(18.1)

6,588

27.5

7,410

62.8

5,994

70.3

(Note) Comprehensive income

For the first six months ended September 30, 2022

12,553 million yen

[91.5%]

For the first six months ended September 30, 2021

6,554 million yen

[63.7%]

Basic earnings per

Diluted earnings per

share

share

Six months ended

Yen

Yen

September 30, 2022

199.05

183.98

September 30, 2021

106.18

98.55

(2) Consolidated financial position

Total assets

Net assets

Equity-to-asset ratio

As of

Millions of yen

Millions of yen

%

September 30, 2022

184,024

129,094

70.2

March 31, 2022

171,525

119,533

69.7

(Reference) Equity

As of September 30, 2022

129,094 million yen

As of March 31, 2022

119,533 million yen

2. Cash dividends

Annual dividends per share

First quarter-end

Second quarter-end

Third quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

-

10.00

-

55.00

65.00

March 31, 2022

Fiscal year ending

-

23.00

March 31, 2023

Fiscal year ending

-

58.00

81.00

March 31, 2023

(Forecast)

(Note) Revision of cash dividend forecast most recently announced: Yes

For the revision of the cash dividend forecast, please refer to the "Notice Regarding Revisions of Financial Results Forecasts and Cash Dividend Forecast" published today, on November 11, 2022.

3. Consolidated financial results forecasts for the fiscal year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

(Percentages indicate year-on-year changes.)

Profit attributable to

Basic

Net sales

Operating profit

Ordinary profit

earnings per

owners of parent

share

Millions of

%

Millions of

%

Millions of

%

Millions of

%

Yen

yen

yen

yen

yen

Full year

265,000

27.6

15,300

30.5

21,300

34.9

14,800

24.3

269.20

(Note) Revision of financial results forecast most recently announced: Yes

  • Financial results forecasts are based on the assumption of a foreign exchange rate of 144 yen per U.S. dollar.
  • For the revision of the financial results forecasts, please refer to the "Notice Regarding Revisions of Financial Results Forecasts and Cash Dividend Forecast" published today, on November 11, 2022.

Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None

Newly included:

- companies (Company name)

Excluded:

- companies (Company name)

  1. Application of specific accounting for preparing quarterly consolidated financial statements: None
  2. Changes in accounting policies, changes in accounting estimates, and restatement
    1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
    2. Changes in accounting policies due to other reasons: None
    3. Changes in accounting estimates: None
  4. Number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares)

As of September 30, 2022

64,710,084 shares

As of March 31, 2022

64,710,084 shares

(ii) Number of treasury shares at the end of the period

As of September 30, 2022

9,731,476 shares

As of March 31, 2022

9,755,041 shares

  1. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Six months ended September 30, 2022

54,966,833 shares

Six months ended September 30, 2021

56,455,879 shares

Notes:1. Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.

2. Explanation on proper use of earnings forecasts, and other special matters

  1. For matters related to forecasts, please refer to the "Notice Regarding Revisions of Financial Results Forecasts and Cash Dividend Forecast" published today, on November 11, 2022.
  2. The forward-looking statements about the future financial results of this document are future forecasts based on the judgment of Hosiden Corporation (the "Company") taking into account the information currently available, and the Company does not intend to make a warranty of their achievement. These forward-looking statements contain various potential risks and uncertainties, and actual results may be materially different from the forward-looking statements due to various material factors. Therefore, the Company asks not to depend highly on these forward-looking statements. For preconditions for earnings forecasts and other related matters, please refer to page 3 of the attached document.

Hosiden Corporation (6804) Consolidated Financial Results for the First Six Months Ended September 30, 2022

Contents of the attachment

Index

1. Qualitative information regarding financial results for the first six months ended September 30, 2022.. 2

(1)

Explanation of operating results.........................................................................................................

2

(2)

Explanation of financial position........................................................................................................

2

(3)

Information regarding consolidated earnings forecasts and other forward-looking statements .........

3

2. Quarterly consolidated financial statements and significant notes thereto ...............................................

4

(1)

Quarterly consolidated balance sheets................................................................................................

4

(2)

Quarterly consolidated statements of income and quarterly consolidated statements of

comprehensive income .......................................................................................................................

6

(3)

Quarterly consolidated statements of cash flows ...............................................................................

8

(4)

Notes to quarterly consolidated financial statements .........................................................................

9

Notes on going concern assumption...................................................................................................

9

Notes on significant changes in the amount of shareholders' equity..................................................

9

Segment information, etc. ..................................................................................................................

9

- 1 -

Hosiden Corporation (6804) Consolidated Financial Results for the First Six Months Ended September 30, 2022

1. Qualitative information regarding financial results for the first six months ended September 30, 2022

  1. Explanation of operating results
    During the first six months of the fiscal year ending March 31, 2023 (from April 2022 to September 2022), the world economy saw continued supply chain disruptions and soaring prices of raw materials on the background of an unstable world situation due to factors such as China's zero COVID policy and Russia's invasion of Ukraine. Furthermore, amid high inflation represented by soaring prices of food and energy, a tight monetary policy has been continued in different countries and economic recovery is expected to slow down going forward. On the contrary, Japan has continued an easy monetary policy, experiencing a significant depreciation of the yen.
    In the electronic component industry to which the Company group (the "Group") belongs, in the automotive-related business, though semiconductor shortages eased from the beginning of the period, full-scale recovery has not yet been achieved. In the mobile communications-related market, sales are expected to decrease year on year due partly to the impact of inflation.
    Under such circumstances, the Group increased net sales as a whole, due partly to the impact of a depreciation of the yen. Specifically, net sales of the automotive-related and health device-related businesses decreased, but the amusement-related business grew significantly along with an increase in the mobile communications-related business.
    With regard to profits, a significant depreciation of the yen boosted operating profit. Furthermore, ordinary profit and profit attributable to owners of parent also significantly increased as foreign exchange gains were recorded in non-operating income.
    During the period under review, as a result, the Group posted consolidated net sales of 120,666 million yen (up 24.7% year on year), operating profit of 10,147 million yen (up 54.0% year on year), ordinary profit of 16,070 million yen (up 116.9% year on year) with foreign exchange gains of 5,565 million yen in line with foreign exchange fluctuations, and profit attributable to owners of parent of 10,941 million yen (up 82.5% year on year).
    The net sales and segment profit or loss for the reportable segments are as follows:
    Net sales for the electro-mechanical components segment was 106,185 million yen (up 30.4% year on year) due to increases in the amusement-related and mobile communications-related businesses, and segment profit was 9,318 million yen (up 94.3% year on year).
    Net sales for the acoustic components segment was 8,178 million yen (up 22.9% year on year) due to an increase in the AV equipment-related business, while the segment profit was 641 million yen (down 19.0% year on year).
    Net sales for the display components segment was 2,666 million yen (down 40.1% year on year) due to a decrease in the automotive-related business, and the segment loss was 343 million yen (segment profit of 116 million yen for the previous year).
    Net sales for the applied equipment and other segment was 3,635 million yen (down 13.8% year on year) due to a decrease in the health device-related business, and the segment profit was 531 million yen (down 39.9% year on year).
  2. Explanation of financial position Assets, liabilities, and net assets
    At the end of the second quarter of the fiscal year ending March 31, 2023, total assets increased 12,499 million yen from the end of the previous fiscal year to 184,024 million yen mainly due to increases in cash and deposits and trade receivables despite a decrease in inventories. Total liabilities increased 2,938 million yen from the end of the previous fiscal year to 54,930 million yen mainly due to increases in trade payables and income taxes payable despite a decrease in other current liabilities.
    Net assets increased 9,560 million yen from the end of the previous fiscal year to 129,094 million yen mainly due to an increase in retained earnings, resulting in an equity-to-asset ratio of 70.2%.
    • 2 -

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Hosiden Corporation published this content on 22 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2022 07:15:00 UTC.