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Consolidated Financial Results Ended March 31, 2024

（Unit:Millions of Yen）	Net sales	Operating income	Ordinary income	Profit attributable to owners of parent	Net income per share(yen)
Consolidated	236,490	12,984	5,627	3,401	130.07

Consolidated net sales of the Group for the fiscal year under review increased 4.6% year on year to 236,490 million yen, reflecting the expansion of sales of semiconductors for consumer equipment and automobiles in the Electronic Devices Business and the growth of sales of medical equipment in the Electronic Systems Business. On the profit side, operating income increased 18.1% year on year, to 12,984 million yen, reflecting increased sales and a boost in yen-based gross profit against the backdrop of the yen’s weakness in exchange markets under review.

However, regarding non-operating income or expenses, the Group posted a foreign exchange loss of 3,438 million yen due to the downward trend of the yen throughout the fiscal year. Interest expenses also increased due to the rise in the US dollar interest rate. As a result, ordinary income decreased 28.8% year on year, to 5,267 million yen, and profit attributable to owners of parent was down 34.6% year on year, to 3,401 million yen.

Segment profit for the Fiscal Year Ending March 31, 2024

（Unit: Millions of Yen）	Net sales	Segment profit
Electronic Devices business	179,011	10,510
Electronic Systems business	54,941	2,507
Electronic Solutions business	2,536	(28)

＜Electronic Devices business＞
In the Electronics Devices Business, net sales increased 6.0% year on year to 179,011 million yen, a result of the huge growth in demand for semiconductors for consumer equipment and the expansion of demand for semiconductors for automobiles. This was partly offset by a decline in sales of semiconductors for industrial equipment and communication equipment. Operating income increased 23.3% year on year, to 10,510 million yen, attributable to an increase in sales and higher gross profit in yen terms against the backdrop of the continuing depreciation of the yen.

＜Electronic Systems business＞
In the Electronic Systems Business, net sales climbed 0.8% year on year to 54,941 million yen. This was a result of buoyant sales of diagnostic imaging equipment and radiation therapy equipment in the medical equipment field, despite poor sales of electronic component inspection equipment in the industrial equipment field due to corporations controlling capital investment. Operating income was up 2.8% year on year to 2,507 million yen, following sales expansion of high-profitability products.

＜Electronic Solutions business＞
In the Electronic Solutions business, net sales declined 9.6% year on year to 2,536 million yen, with sales of optical communication products for communication infrastructure decreasing while in ICTrelated fields there was bullish demand for time synchronization systems. Operating loss of 28 million yen was posted (compared to operating income of 42 million yen a year ago) due to an increase in selling, general and administrative expenses.

Financial Forecasts for the Fiscal Year Ending March 31, 2025

（Unit: Millions of Yen）	Net sales	Operating income	Ordinary income	Profit attributable to owners of parent	Net income per share(yen)
Consolidated	212,000	8,600	5,000	3,000	114.72

In this business environment, the Group expects to see its financial results grow in the space and defense field and in the laser equipment field in the Electronic Systems Business and in AI robot-related businesses in the Electronic Solutions Business. Meanwhile, financial results in the Electronic Devices Business are likely to decline, given a reactionary fall from the massive growth of sales in semiconductors for consumer equipment in the previous fiscal year as well as inventory adjustments and intensifying competition throughout the market.

In light of the foregoing, the Group expects to achieve net sales of 212,000 million yen, down 10.4% year on year, for the fiscal year ending March 31, 2025. The Group expects operating income to decrease 33.8% year on year, to 8,600 million yen, ordinary income to decrease 11.2% year on year, to 5,000 million yen, and profit attributable to owners of parent to decrease 11.8% year on year, to 3,000 million yen.