We are pleased to report our results for the fiscal year ended March 31, 2023.

Looking at the Group's business environment during the fiscal year under review, the adjustment phase continued in both the domestic and overseas markets. In this situation, the Group maintained a favorable profit structure in its business performance. As a result, revenue stood at ¥94,963 million (up 1.9% year on year).

A breakdown of consolidated revenue by machinery category shows that revenue of mainstay automatic lathes rose 0.4% year on year, to ¥79,792 million, revenue of grinding machines increased 8.3%, to ¥4,274 million, revenue of machining centers, rolling machines and other specialized machines increased 8.4%, to ¥5,894 million.

Consolidated operating profit decreased 11.1% year on year, to ¥16,758 million, and profit attributable to owners of parent declined 18.9% year on year, to ¥7,695 million.

For the consolidated fiscal year ended March 31, 2023, the Company has decided to pay annual dividends of 46 yen per share, including interim dividends of 22 yen per share and year-end dividends of 24 yen per share. For the consolidated fiscal year ending March 31, 2024, the Company plans to pay 48 yen per share, including interim dividends of 24 yen per share and year-end dividends of 24 yen per share.

While continuing to work on expanding sales, improving production efficiency and reducing costs, the Group seeks to offer new products that fully meet customer requirements and enhance the services it provides. Through these efforts, it will consistently aim to raise customer satisfaction and work hard to maintain management structures trusted by customers.

We respectfully ask for the continued support and encouragement of our shareholders.

June 2023
TSUGAMI CORPORATION