Consolidated Financial Results: Fiscal Year Ending March 2023

Key insights

7 takeaways · ~3 min read

01
KAGA ELECTRONICS CO., LTD. reported a significant increase in total net sales by 22.6% to 608,064 million yen and segment income by 54.2% to 32,249 million yen for FY2023/3 compared to FY2022/3, primarily driven by the electronic components business.See it on page 6
02
The electronic components business saw net sales increase by 24.3% to 539,342 million yen and segment income rise by 56.4% to 28,314 million yen in FY2023/3.See it on page 4
03
Kaga Electronics achieved higher gross profit margins and improved operating income margins in FY2023/3, with operating income increasing by 54.2% to 32,249 million yen.See it on page 6
04
For FY2024/3, the company forecasts a decrease in net sales by 9.5% to 550,000 million yen and operating income by 22.5% to 25,000 million yen, with the electronic components business specifically expected to post decreases in net sales and profit.See it on page 2
05
The annual dividend for FY2023/3 increased by 100 yen from the previous fiscal year to 220 yen per share, and the dividend forecast for FY2024/3 remains stable at 220 yen per share.See it on page 2
06
The Information Equipment segment experienced a 10.3% increase in net sales to 43,680 million yen and a 17.4% increase in segment income to 2,449 million yen in FY2023/3, with solid sales of PCs to corporations and educational institutions, and steady progress in LED installation projects.See it on page 8
07
Inventory turnover increased from 32.8 days in FY2022/3 to 46.1 days in FY2023/3, while Accounts Receivable (A/R) turnover decreased from 93.7 days to 89.0 days in the same period.See it on page 19

Summary

Consolidated Financial Results for the Fiscal Year ending March 2023 ● Net sales increased by 112.2 billion yen or 22.6%, year on year to 608.0 billion yen. The electronic components business achieved significant growth both in the component sales business and the EMS business. Supply shortages and extended lead times were Results for generally resolved, and sales to a wide range of industries were high.