Furukawa Electric : Financial Summary for First Three Months of the Fiscal Year Ending March 31, 2024

Financial Summary for First Three Months of the Fiscal Year

Ending March 31, 2024

[Japanese Accounting Standards] (Consolidated)

					August 3, 2023
Name of listed company:	FURUKAWA ELECTRIC CO., LTD.	Stock Listings:	Tokyo
Code No.:	5801			URL:	https://www.furukawa.co.jp/en/
Company Representative:	(Title)	President		(Name) Hideya Moridaira
Inquiries:	(Title)	General Manager of Investor Relations Department, Finance & Accounting Division
	(Name)	Hiroko Takita	TEL: [phone]
Planned date for submissions of quarterly report:	August 8, 2023	Scheduled day of commencing dividend: -
Supplementary documents for quarterly results: Yes
Quarterly results briefing:			Yes (for institutional investors, analysts, and the media)

(Figures are rounded down to the nearest one million yen.)

1. Consolidated earnings for first three months of the fiscal year ending March 31, 2024 (April 1, 2023 through June 30, 2023)

(1) Consolidated business results

(Figures in percentages denote the year-on-year change.)

Net income

Net sales

Operating income

Ordinary income

attributable to owners

of the parent company

Three months Ended June

Million yen

％

Million yen

％

Million yen

％

Million yen

％

246,414

(5.3)

(2,779)

-

(1,802)

-

(1,708)

-

30, 2023

Three months Ended June

260,293

19.0

1,064

(71.9)

7,739

-

5,270

-

30, 2022

(Note) Comprehensive income:

Three months ended June 30, 2023: 10,867 Million yen [(29.3%)]

Three months ended June 30, 2022: 15,373 Million yen [ -% ]

Net income per

Fully diluted net

share

income per share

Three months ended June 30, 2023

Yen

Yen

(24.27)

－

Three months ended June 30, 2022

74.88

－

(Note) UACJ Corporation, an equity-method affiliate, has adopted International Financial Reporting Standards (IFRS) for its consolidated financial statements from the first quarter of the fiscal year ending March 31, 2024, in place of the previous Japanese GAAP. The relevant figures for the first quarter of the fiscal year ending March 31, 2023 are retrospectively adjusted to reflect the change in accounting policy. Percentage changes from the same period of the previous year are not shown in the related figures.

(2) Consolidated financial status

	Total assets	Net assets	Capital ratio
Three months Ended June 30, 2023	Million yen	Million yen	％
961,558	333,836	31.9
Fiscal year ended March 31, 2023	933,469	329,095	32.3
(Reference) Shareholders' equity:

Three months ended June 30, 2023: 306,369 million yen

Fiscal year ended March 31, 2023: 301,652 million yen

(Note) UACJ Corporation, an equity-method affiliate, has adopted International Financial Reporting Standards (IFRS) for its consolidated financial statements from the first quarter of the fiscal year ending March 31, 2024, in place of the previous Japanese GAAP. The relevant figures for the first quarter of the fiscal year ending March 31, 2023 are retrospectively adjusted to reflect the change in accounting policy.

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2. Dividends

		Dividend per share
	End of 1st	End of 2nd	End of 3rd	End of year	Total
	Quarter	quarter	quarter
	Yen	Yen	Yen	Yen	Yen
Fiscal year ended March 31, 2023	－	0.00	－	80.00	80.00
Fiscal year ending March 31, 2024	－
Fiscal year ending March 31, 2024		0.00	－	60.00	60.00
(forecast)
(Note) Revision of forecast dividends in	the quarter under	review: No

3. Financial forecasts of consolidated operating results for fiscal year ending March 31, 2024 (April 1, 2023 to March 31, 2024)

(Percentages indicate the rate of increase or decrease from the previous year.)

							Net income
	Net sales		Operating income	Ordinary income	attributable to	Net income
		owners of the	per share
							parent company
Full year	Million yen	％	Million yen	％	Million yen	％	Million yen	％	Yen
1,100,000	3.2	24,000	55.4	23,000	33.3	13,000	(18.2)	184.67

(Note) Revision of forecast dividends in the quarter under review: No

• Noted items
• 1. Any change in important subsidiaries during the term: No

(Any changes in specific subsidiaries accompanied by a change in the scope of consolidation)

Newly consolidated: -- company (company name: )

Excluded: -- company (company name: )

1. Adoption of accounting methods unique to the preparation of quarterly consolidated financial statements: No
2. Any changes in accounting policy or accounting estimates, and restatements

1)	Changes in accounting policy associated with revisions to accounting standards:	No
2)	Changes in accounting policy other than the changes in item 1):	Yes
3)	Changes in accounting estimates:	No
4)	Restatements:	No

(4) Number of shares issued (common stock)

1)	Number of shares issued at the end of the term (including treasury stock)
	Three months of the fiscal year ending March 31, 2024:	70,666,917	shares
	Fiscal year ended March 31, 2023:	70,666,917	shares
2)	Number of treasury stock at the end of the term
	Three months of the fiscal year ending March 31, 2024:	272,096	shares
	Fiscal year ended March 31, 2023:	272,054	shares
3)	Average number of shares outstanding during the term (cumulative total for the quarter)
	Three months of the fiscal year ending March 31, 2024:	70,394,841	shares
	Three months of the fiscal year ended March 31, 2023:	70,384,012	shares

(Note) The number of treasury shares at the end of the term and the number of treasury shares deducted in calculating the average number of shares during the year include the Company's stock held in the trust account relating to Board Benefit Trust (BBT).

• This financial summary is not subject to auditing procedures.
• Explanation about the proper use of financial forecasts and other special remarks

The above forecasts have been prepared based on information available at the time of the announcement and assumptions at the time of the announcement associated with uncertain factors that may affect the Company's performance in the future. Actual results may differ materially from the forecasts presented in this document, depending on various factors in the future.

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