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.
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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.
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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.
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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.
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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.
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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.
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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.
Insights
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.
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.
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.
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.
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.
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.
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.