Oki Electric Industry : Financial Results

About this update from Oki Electric Industry Company, Limited

(Translation) Summary of Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2026 (J-GAAP) August 6, 2025 Listed Company Name: Oki Electric Industry Co., Ltd. Securities Code: 6703 Stock Exchange Listing: Tokyo Stock Exchange URL: https://www.oki.com/ Representative: Takahiro Mori, Representative Director, Chief Executive Officer Contact: Youji Takahashi, General Manager, Investor Relations TEL: +81-3-5635-8212 Commencement of Dividend Payment (Scheduled): - Supplementary Document on Quarterly Financial Results: Yes Quarterly Financial Results Briefing: Yes (for institutional investors) (Amounts less than one million yen have been truncated) Consolidated Financial Results for the Three Months Ended June 30, 2025 (from April 1, 2025 to June 30, 2025) Consolidated operating results (cumulative) (Percentage figures indicate year-on-year change) Net sales Operating income Ordinary income Profit attributable to owners of parent Millions of yen % Millions of yen % Millions of yen % Millions of yen % Three months ended June 30, 2025 85,077 (13.1) (1,370) - (1,563) - (1,643) - June 30, 2024 97,939 20.1 3,860 - 3,919 - 1,805 - (Note) Comprehensive income Three months ended June 30, 2025: ¥(1,359) million (-%) Three months ended June 30, 2024: ¥1,227 million ((58.7)%) Basic earnings per share Diluted earnings per share Three months ended June 30, 2025 Yen Yen (18.95) - June 30, 2024 20.82 20.80 Consolidated financial position Total assets Net assets Shareholders' equity ratio Millions of yen Millions of yen % As of June 30, 2025 393,864 140,484 35.6 As of March 31, 2025 410,965 145,745 35.4 (Reference) Shareholders' equity As of June 30, 2025: ¥140,387 million As of March 31, 2025: ¥145,622 million Dividends Dividend per share First quarter-end Second quarter-end Third quarter-end Year-end Total Fiscal year ended March 31, 2025 Yen Yen Yen Yen Yen - 0.00 - 45.00 45.00 Fiscal year ending March 31, 2026 - Fiscal year ending March 31, 2026 (Projection) 0.00 - 50.00 50.00 (Note) Revisions to dividend projection most recently announced: None Consolidated Results Projection for the Fiscal Year Ending March 31, 2026 (from April 1, 2025 to March 31, 2026) (Percentage figures indicate year-on-year change) Net sales Operating income Ordinary income Profit attributable to owners of parent Basic earnings per share Full year Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen 450,000 (0.5) 19,000 2.0 17,000 1.1 14,000 12.2 161.46 (Note) Revisions to operating results projection most recently announced: None Notes: Significant changes in the scope of consolidation during the period: None Newly included: - companies (Company name) Excluded: - companies (Company name) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements : None Changes in accounting policies, changes in accounting estimates and restatements Changes in accounting policies due to revisions to accounting standards and other regulations : None Changes in accounting policies due to other reasons : None Changes in accounting estimates: None Restatements: None Number of shares issued (common stock) Number of shares issued at the end of the period (including treasury shares) As of June 30, 2025 87,217,602 shares As of March 31, 2025 87,217,602 shares Number of treasury shares at the end of the period As of June 30, 2025 470,308 shares As of March 31, 2025 507,427 shares Average number of shares during the period Three months ended June 30, 2025 86,722,471 shares Three months ended June 30, 2024 86,696,254 shares Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None Proper use of earnings forecasts, and other special matters (Warning on forward-looking statements) The forward-looking statements including the projection for the financial results contained in this document are based on information currently available to the Company and certain assumptions that the Company deems to be reasonable, and actual results may differ from such statements due to a variety of factors. (How to obtain supplementary document on financial results) The Company is scheduled to hold a financial results briefing for institutional investors on August 6, 2025 (Wednesday). The document on financial results is disclosed on TDNet at the same time as this Summary of Consolidated Financial Results and is also made available on the Company's website on the same day. Consolidated Financial Statements Consolidated Balance Sheets (Millions of yen) As of March 31, 2025 As of June 30, 2025 Assets Current assets Cash and deposits 36,865 31,061 Notes and accounts receivable - trade, and contract assets 112,215 92,207 Finished goods 18,441 21,975 Work in process 15,122 18,965 Raw materials and supplies 31,436 30,832 Other 17,915 20,902 Allowance for doubtful accounts (118) (136) Total current assets 231,878 215,807 Non-current assets Property, plant and equipment 60,288 59,223 Intangible assets 18,153 18,032 Investments and other assets 100,645 100,801 Total non-current assets 179,086 178,056 Total assets 410,965 393,864 Liabilities Current liabilities Notes and accounts payable - trade 61,429 53,833 Short-term borrowings 41,390 43,677 Provisions 6,861 6,111 Other 57,311 52,852 Total current liabilities 166,992 156,475 Non-current liabilities Long-term borrowings 56,773 56,185 Provisions 1,074 1,105 Retirement benefit liability 27,100 26,621 Other 13,278 12,991 Total non-current liabilities 98,226 96,904 Total liabilities 265,219 253,379 Net assets Shareholders' equity Share capital 44,000 44,000 Capital surplus 18,940 18,919 Retained earnings 83,501 77,956 Treasury shares (713) (661) Total shareholders' equity 145,728 140,214 Accumulated other comprehensive income Valuation difference on available-for-sale securities 7,769 8,230 Deferred gains or losses on hedges (126) (334) Foreign currency translation adjustment (7,301) (7,111) Remeasurements of defined benefit plans (448) (611) Total accumulated other comprehensive income (105) 173 Share acquisition rights 44 13 Non-controlling interests 78 83 Total net assets 145,745 140,484 Total liabilities and net assets 410,965 393,864 Consolidated Statements of Income and Comprehensive Income Consolidated Statements of Income (For the Three Months Ended June 30, 2024 and 2025) (Millions of yen) Three months ended June 30, 2024 Three months ended June 30, 2025 Net sales 97,939 85,077 Cost of sales 71,614 65,123 Gross profit 26,325 19,953 Selling, general and administrative expenses 22,465 21,324 Operating profit (loss) 3,860 (1,370) Non-operating income Interest income 210 268 Dividend income 420 453 Foreign exchange gains 794 - Gain on sale of investment securities 0 364 Miscellaneous income 135 202 Total non-operating income 1,561 1,289 Non-operating expenses Interest expenses 568 441 Foreign exchange losses - 459 Miscellaneous expenses 933 581 Total non-operating expenses 1,502 1,482 Ordinary profit (loss) 3,919 (1,563) Profit (loss) before income taxes 3,919 (1,563) Income taxes - current 291 (87) Income taxes - deferred 1,817 161 Total income taxes 2,109 74 Profit (loss) 1,810 (1,638) Profit attributable to non-controlling interests 4 4 Profit (loss) attributable to owners of parent 1,805 (1,643) Consolidated Statements of Comprehensive Income (For the Three Months Ended June 30 , 2024 and 2025) (Millions of yen) Three months ended June 30, 2024 Three months ended June 30, 2025 Profit (loss) 1,810 (1,638) Other comprehensive income Valuation difference on available-for-sale securities (1,200) 460 Deferred gains or losses on hedges 19 (207) Foreign currency translation adjustment 853 189 Remeasurements of defined benefit plans, net of tax (255) (163) Total other comprehensive income (582) 279 Comprehensive income 1,227 (1,359) Comprehensive income attributable to Comprehensive income attributable to owners of parent 1,218 (1,364) Comprehensive income attributable to non-controlling interests 8 5 Consolidated Statements of Cash Flows (Millions of yen) Three months ended June 30, 2024 Three months ended June 30, 2025 Cash flows from operating activities Profit (loss) before income taxes 3,919 (1,563) Depreciation 3,340 3,750 Increase (decrease) in provisions 10 (920) Interest and dividend income (630) (722) Interest expenses 568 441 Loss (gain) on sale of investment securities (0) (364) Decrease (increase) in trade receivables 25,778 18,643 Decrease (increase) in inventories (13,596) (6,677) Increase (decrease) in trade payables 85 (6,573) Other, net (2,494) (3,000) Subtotal 16,979 3,011 Interest and dividends received 462 482 Interest paid (313) (191) Income taxes paid (2,835) (1,190) Net cash provided by (used in) operating activities 14,293 2,111 Cash flows from investing activities Purchase of property, plant and equipment (2,944) (3,093) Purchase of intangible assets (1,343) (1,790) Purchase of long-term prepaid expenses (564) (614) Other payments (104) (94) Other proceeds 560 435 Net cash provided by (used in) investing activities (4,397) (5,156) Cash flows from financing activities Net increase (decrease) in short-term borrowings (7,086) 1,809 Dividends paid (2,365) (3,603) Repayments of lease liabilities (1,047) (876) Other, net 49 51 Net cash provided by (used in) financing activities (10,448) (2,618) Effect of exchange rate change on cash and cash equivalents 960 (139) Net increase (decrease) in cash and cash equivalents 408 (5,803) Cash and cash equivalents at beginning of period 34,422 36,237 Cash and cash equivalents at end of period 34,830 30,433

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