Latest Results and Forecasts

Consolidated Operating Results for the First Three Months
of the Fiscal Year Ending December 31, 2024

Overview

During the three months ended March 31, 2024 (January 1–March 31, 2024), the business environment in which the Group operates continues to be uncertain for various reasons, including the continuing conflict in Ukraine, the deteriorating situation in the Middle East, remaining high energy prices, and fluctuation of price and exchange rate attributable to tight monetary policies worldwide.

Under these conditions, the Group actively promoted sales activities and made progress on measures, including measures intended to lower costs and improved productivity and business efficiency.

Consequently, the financial results for the three months ended March 31, 2024, showed growth in sales and profits compared to the same period of the previous fiscal year.

Consolidated Financial Results

  Three months ended
March 31, 2023		 Three months ended
March 31, 2024		 Change
Millions of yen % of net sales Millions of yen % of net sales Millions of yen %
Net sales 61,601   69,918   8,317 13.5%
Operating income 1,931 3.1% 2,711 3.9% 780 40.4%
Ordinary income 2,120 3.4% 3,220 4.6% 1,099 51.8%
Net income attributable to owners of parent 1,291 2.1% 2,148 3.1% 856 66.3%

Performance by Industry Segment

Both sales and profits in the Die Castings business were up year on year (YoY). Net sales increased in both domestic and overseas markets. Although some automotive manufacturers suspended production and shipments, sales increased thanks to various factors, including recovering domestic and overseas automotive production and higher yen-based sales of overseas subsidiaries due to the weak yen. Growth in sales boosted profits, despite increasing labor costs, among other factors.

In the Builders' Hardware business, both sales and profits declined YoY. Overseas sales increased but domestic sales decreased. Despite efforts to improve productivity and reduce costs, profits decreased due to various factors, including rising procurement costs for products manufactured overseas.

In the Printing Equipment business, both sales and profits grew YoY. Net sales overall remained strong from the previous year. Domestic sales increased but overseas sales decreased. Growth in sales boosted profits, despite the impact of rising raw material prices.

Net Sales by Industry Segment

Three months ended
March 31, 2023		 Three months ended
March 31, 2024		 Change
Millions of yen % of consolidated net sales Millions of yen % of consolidated net sales Millions of yen %
Die Castings 53,549 86.9% 61,353 87.8% 7,804 14.6%
Builders' Hardware 2,568 4.2% 2,535 3.6% -32 -1.3%
Printing Equipment 5,450 8.8% 5,991 8.6% 541 9.9%

Operating Income by Industry Segment

  Three months ended
March 31, 2023		 Three months ended
March 31, 2024		 Change
Millions of yen % of segment net sales Millions of yen % of segment net sales Millions of yen %
Die Castings 1,588 3.0% 2,352 3.8% 764 48.1%
Builders' Hardware 41 1.6% -47 -1.9% -88 —
Printing Equipment 316 5.8% 421 7.0% 105 33.3%

Forecasts for the Fiscal Year Ending December 31, 2024

As of May 13, 2024

Forecasts of consolidated financial results in the fiscal year ending December 31, 2024, remain unchanged from those announced on February 13, 2024 (during the announcement of financial results for the fiscal year ended December 31, 2023).

Consolidated Performance Forecast for the Full Fiscal Year Ending December 31, 2024

  Fiscal year ended
December 31, 2023		 Fiscal year ending
December 31, 2024		 Change
Millions of yen % of net sales Millions of yen % of net sales Millions of yen %
Net sales 282,693   305,000   22,306 7.9%
Operating income 12,214 4.3% 13,000 4.3% 785 6.4%
Ordinary income 13,861 4.9% 12,800 4.2% -1,061 -7.7%
Net income attributable to owners of parent 10,115 3.6% 9,000 3.0% -1,115 -11.0%

Net Sales by Industry Segment

Fiscal year ended
December 31, 2023		 Fiscal year ending
December 31, 2024		 Change
Millions of yen % of consolidated net sales Millions of yen % of consolidated net sales Millions of yen %
Die Castings 247,551 87.6% 267,700 87.8% 20,148 8.1%
Builders' Hardware 10,823 3.8% 11,000 3.6% 176 1.6%
Printing Equipment 24,094 8.5% 26,300 8.6% 2,205 9.2%

Operating Income by Industry Segment

  Fiscal year ended
December 31, 2023		 Fiscal year ending
December 31, 2024		 Change
Millions of yen % of segment net sales Millions of yen % of segment net sales Millions of yen %
Die Castings 10,916 4.4% 12,200 4.6% 1,283 11.8%
Builders' Hardware 172 1.6% 300 2.7% 127 74.3%
Printing Equipment 1,136 4.7% 500 1.9% -636 -56.0%

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