(iii) Consolidated Statement of Changes in Equity

Fiscal year ended March 31, 2024

Fiscal year ended March 31, 2025

(iv) Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

(Significant Accounting Policies for Preparation of the Consolidated Financial Statements)

1. Scope of consolidation

(1) Number of consolidated subsidiaries: 10

Names of consolidated subsidiaries:

Maruwa (Malaysia) Sdn. Bhd., MARUWA Electronics (Taiwan) Co., Ltd., Maruwa Europe Ltd., Maruwa America Corp., Maruwa Korea Co., Ltd., Maruwa (Shanghai) Trading Co., Ltd., MARUWA Electronic (India) Pvt. Ltd., MARUWA SHOMEI CO., LTD., MARUWA MELAKA SDN. BHD., YAMAGIWA CO., LTD.

(2) Names of unconsolidated subsidiaries, etc.

Names of unconsolidated subsidiaries:

Maruwa Electronics Gmbh, and 2 other companies

(Reasons for exclusion from the scope of consolidation)

These subsidiaries are excluded from the scope of consolidation because they are small in scale, and their total assets, net sales, profit (amount corresponding to equity interest), and retained earnings (amount corresponding to equity interest) do not have a material effect on the Company's consolidated financial statements.

2. Application of equity method

The unconsolidated subsidiaries are not accounted for using the equity method because they have a negligible effect on profit (loss) attributable to owners of parent and retained earnings, etc., and they are also not significant cumulatively.

3. Fiscal years of consolidated subsidiaries

Among consolidated subsidiaries, Maruwa (Shanghai) Trading Co., Ltd. has a fiscal year ending December 31.

In preparing the consolidated financial statements, its financial statements as of that date are used, and necessary adjustments are made to reflect significant transactions that occurred between that date and the Company's fiscal year end. The fiscal year ends of other consolidated subsidiaries coincide with the Company's fiscal year end.

4. Accounting policies

(1) Basis and method for valuation of major assets

a. Securities

Available-for-sale securities

Securities other than shares that do not have a market price:

Fair value method (with the entire amount of valuation differences recorded directly into net assets, and the cost of sales calculated using the moving average cost method)

Shares that do not have a market price:

Moving average cost method

b. Inventories

The Company and its domestic consolidated subsidiaries mainly adopt the moving average cost method (with the amounts shown on the balance sheet written down as profitability declines), while overseas consolidated subsidiaries adopt the lower of cost or market method by the moving average cost method.

(2) Depreciation method for major depreciable assets

a. Property, plant and equipment and investment property

The Company and its domestic consolidated subsidiaries adopt the declining-balance method. However, the straight-line method is applied for buildings (excluding facilities) acquired on or after April 1, 1998, and facilities attached to buildings and for structures acquired on or after April 1, 2016. Overseas consolidated subsidiaries use the straight-line method based on the accounting principles of the countries in which they are located.

The useful lives are as follows.

Buildings and structures: 2 to 50 years

Machinery, equipment and vehicles: 2 to 15 years

b. Intangible assets

Software for internal use: Straight-line method over the period of internal use (5 years)

Other: Straight-line method

(3) Recognition criteria for major provisions

a. Allowance for doubtful accounts

To provide for the non-payments for trade receivables, loans receivable, and other receivables, the historical default rate is used for general receivables, and for receivables designated as potentially irrecoverable, an allowance is made for the amount deemed irrecoverable using actual default rates on an individual claim basis.

b. Provision for bonuses

To provide for bonuses to be paid to employees, a provision for bonuses is recorded based on the estimated amount of payment.

c. Provision for bonuses for directors

To provide for bonuses to be paid to directors, a provision for bonuses is recorded based on the estimated amount of payment in the fiscal year under review.

(4) Recognition criteria for major revenue and expenses

The major performance obligations of the Company and its consolidated subsidiaries in their principal businesses with regard to revenue from contracts with customers and the normal time at which such performance obligations are satisfied (the normal time at which revenue is recognized) are as follows.

a. Ceramic components business

In the ceramic components business, the Group manufactures and sells ceramic components, including electronic components, and identifies the delivery of finished goods or merchandise based on contracts with customers as performance obligations. For sales of these finished goods or merchandise, revenue is recognized when the control of the finished goods or merchandise is considered to have been transferred to the customer at the time of delivery. For the sale to customers in Japan, revenue is recognized at the time of shipment because the period from the shipment to the time at which the control of the finished goods or merchandise is transferred to the customer is within the normal period of time, which is very close to the shipment.

b. Lighting equipment business

In the lighting equipment business, the Group manufactures and sells LED lighting, LED light source modules, etc., and purchases and sells design lighting, and other products. The Group identifies the delivery of finished goods or merchandise based on contracts with customers as performance obligations. For the sale of these finished goods or merchandise, revenue is recognized when the control of the finished goods or merchandise is considered to have been transferred to the customer at the time of delivery. For sales to customers in Japan, revenue is recognized at the time of shipment because the period from the shipment to the time at which the control of the finished goods or merchandise is transferred to the customer is within the normal period of time, which is very close to the shipment.

(5) Scope of cash and cash equivalents in consolidated statement of cash flows

Cash and cash equivalents in the consolidated statement of cash flows comprise cash on hand, deposits that can be withdrawn on demand, and short-term investments with maturities of three months or less at the time of acquisition that are readily convertible into cash and are exposed to insignificant risk of changes in value.

(Significant Accounting Estimates)

1. Inventory valuation in the ceramic components business

The following is the item for which amounts have been recorded on the consolidated financial statements for the fiscal year under review based on accounting estimates, which may have a material effect on the consolidated financial statements for the following fiscal year.

(1) Amount recorded in the consolidated financial statements for the fiscal year under review

(Millions of yen)

(Note) The above amounts are the total of merchandise and finished goods, work in process, raw materials and supplies.

(2) Information on significant accounting estimates for the identified item

The Group writes down the carrying amount of inventories according to their declining profitability and measured them at the lower of the acquisition cost or the net selling price at the end of the fiscal year. For slow-moving inventories that are outside of the normal operating cycle, the carrying amount is reduced to the estimated disposal value in order to reflect their reduced profitability.

Slow-moving inventories that are outside of the normal operating cycle are identified based on a comprehensive review of the actual results of slow-moving inventories or disposal of inventories, the product lifecycle, and other factors.

Therefore, if there is an excess in inventories held due to market trends, changes in demand forecasts by electronic component manufacturers, or other factors, inventories that should be deemed as obsolete may increase, which may affect inventory valuation.

(Change in Accounting Policy)

(Application of the Accounting Standard for Current Income Taxes, etc.)

The Company has applied the Accounting Standard for Current Income Taxes (Accounting Standards Board of Japan (ASBJ) Statement No. 27, October 28, 2022; hereinafter referred to as the "2022 Revised Accounting Standard") effective from the beginning of the fiscal year ended March 31, 2025.

With regard to the revision in classification to record income taxes (taxation on other comprehensive income), the Company follows the transitional treatments set forth in the proviso of Paragraph 20-3 of the 2022 Revised Accounting Standards and the proviso of Paragraph 65-2 (2) of the "Implementation Guidance on Tax Effect Accounting" (ASBJ Guidance No. 28, October 28, 2022; hereinafter referred to as the "2022 Revised Implementation Guidance").  This change has no impact on the consolidated financial statements.

In addition, the Company has adopted the 2022 Revised Implementation Guidance, effective from the beginning of the fiscal year ended March 31, 2025, for the amendment related to the revised accounting treatment for consolidated financial statements in cases where gains or losses arising from the sale of shares of subsidiaries, etc., between consolidated companies are deferred for tax purposes. The change in accounting policy has been applied retrospectively, and the consolidated financial statements for the previous fiscal year have been presented on a retrospective basis.

This change has no impact on the consolidated financial statements for the previous fiscal year.

(Accounting Standards Not Yet Adopted)

(Accounting Standard for Leases, etc.)

・"Accounting Standard for Leases" (ASBJ Statement No. 34, September 13, 2024 by the ASBJ)

・"Implementation Guidance on Accounting Standard for Leases" (ASBJ Guidance No. 33, September 13, 2024 by the ASBJ)

(1) Overview

As part of the Accounting Standards Board of Japan's initiative to align Japanese GAAP with international accounting standards, a new lease accounting standard has been developed requiring lessees to recognize assets and liabilities for all leases. This standard is fundamentally based on a single accounting model under IFRS 16 "Leases," but only incorporates its principal requirements rather than adopting the standard in its entirety. The aim is to provide a simpler and more practical approach, while ensuring that the use of this standard in non-consolidated financial statements would not require adjustments in general when compared with IFRS 16.

For lessee accounting treatment, similar to IFRS 16, a single accounting model will be applied, regardless of whether a lease is classified as a finance lease or an operating lease. Under this model, lessees will recognize both depreciation on the right-of-use asset and interest on the lease liability for all leases.

(2) Scheduled Date of Adoption

The new standard is scheduled to be applied from the beginning of the fiscal year ending March 31, 2028.

(3) Impact of Adoption

The Company is currently evaluating the impact that the adoption of the new lease accounting standard on its consolidated financial statements. At this time, the amount of the impact has not yet been determined.

(Notes to Consolidated Balance Sheet)

*1 Information related to non-consolidated subsidiaries and affiliates is as follows.

*2 Accumulated amounts of tax purpose reduction entry pertaining to the receipt of national subsidies are as follows.

*3 Accumulated depreciation is as follows.

*4 Contract liabilities included in other are as follows.

*5. Notes due at the end of the fiscal year

For accounting treatment of notes, etc., maturing at the end of the fiscal year, settlement is made on the clearing date or settlement date. As the last day of the previous fiscal year fell on a holiday for financial institutions, the following notes maturing on the last day of the fiscal year were included in the ending balance for the previous fiscal year.

(Notes to Consolidated Statement of Income)

*1 Revenue from contracts with customers

With regard to net sales, revenues arising from contracts with customers and other revenues are not separately presented. The amount of revenue from contracts with customers is presented in "Notes (Revenue Recognition), 1. Breakdown of revenue from contracts with customers" in the Consolidated Financial Statements section.

*2 Major items and amounts of selling, general and administrative expenses are as follows.

*3 Total research and development expenses included in general and administrative expenses

*4 Details of gain on sale of non-current assets are as follows.

*5 Details of loss on sale and retirement of non-current assets are as follows.

*6 The amount of write-down of inventories held for sale in the ordinary course of business due to a decline in profitability is as follows.

*7 Details of subsidy income and loss on tax purpose reduction entry of non-current assets are as follows.

Fiscal year ended March 31, 2024

Subsidy income consists of a subsidy granted by Fukushima Prefecture to support companies located in Fukushima Prefecture to contribute to the recovery of local industry.

Loss on tax purpose reduction entry of non-current assets was recorded for the amount directly deducted from the acquisition cost of property, plant and equipment due to the above subsidy income.

Fiscal year ended March 31, 2025

Subsidy income primarily consists of the Subsidy for Domestic Investment Promotion Projects for Supply Chain Countermeasures granted by the Ministry of Economy, Trade and Industry.

Loss on tax purpose reduction entry of non-current assets was recorded for the amount directly deducted from the acquisition cost of property, plant and equipment due to the above subsidy income.

(Notes to Consolidated Statement of Comprehensive Income)

*1. Reclassification adjustments for other comprehensive income

*2 Income taxes and tax effects related to other comprehensive income

(Notes to Consolidated Statement of Changes in Equity)

Fiscal year ended March 31, 2024

1. Matters concerning the class and total number of issued shares and the class and number of treasury shares

(Note) The increase of 0 thousand shares of common shares in treasury shares is due to the purchase of odd-lot shares. The decrease of 0 thousand shares of common shares in treasury shares is due to the delivery of restricted shares for share-based remuneration.

2. Matters regarding share options and treasury share options

Not applicable.

3. Matters regarding dividends

(1) Amounts of dividends paid

(2) Of dividends for which record dates belong to the fiscal year under review, those for which the effective date will be in the subsequent period

Fiscal year ended March 31, 2025

1. Matters concerning the class and total number of issued shares and the class and number of treasury shares

(Note) The increase of 0 thousand shares of common shares in treasury shares is due to the purchase of odd-lot shares. The decrease of 2 thousand shares of common shares in treasury shares was due to the delivery of restricted shares for share-based remuneration.

2. Matters regarding share options and treasury share options

Not applicable.

3. Matters regarding dividends

(1) Amounts of dividends paid

(2) Of dividends for which record dates belong to the fiscal year under review, those for which the effective date will be in the subsequent period

(Notes to Consolidated Statement of Cash Flows)

* Relationship between cash and cash equivalents at the end of period and the amount of items shown on the consolidated balance sheet

(Lease Transactions)

Lease transactions are omitted due to immateriality and the small amount per contract.

(Financial Instruments)

1. Matters regarding the status of financial instruments

(1) Policy for financial instruments

For fund management, the Group invests temporary surplus funds in deposits or highly secure financial assets. Funding is procured through long-term and short-term borrowings from financial institutions, the issuance of shares, and the issuance of bonds, etc., based on the funding plan established and by taking into consideration the intended use of the required funds. The Group does not engage in derivative transactions.

(2) Description of financial instruments and their risks

Trade receivables, such as notes and accounts receivable and electronically recorded monetary claims, are exposed to customer credit risk. In addition, trade receivables denominated in foreign currencies arising from overseas operations are exposed to the risk of fluctuations in foreign exchange rates.

Investment securities are mainly equity securities and are exposed to market price fluctuation risk.

Trade payables, such as notes and accounts payable and electronically recorded obligations, are mostly due within four months. Certain items denominated in foreign currencies are exposed to the risk of fluctuations in foreign exchange rates.

(3) Risk management system for financial instruments

(i) Management of credit risks (risk related to nonperformance by counterparties)

In accordance with the Company's credit management regulations, the administrative department periodically monitors the status of major customers with respect to trade receivables and manages due dates and outstanding balances for each customer in order to identify and mitigate concerns at an early stage regarding the collection of receivables from customers who may be experiencing deteriorating financial conditions or other factors. Consolidated subsidiaries are also managed in the same manner in accordance with the Company's credit management regulations.

(ii) Management of market risks (risk of fluctuations in foreign exchange rates, etc.)

In order to manage the risk of fluctuations in foreign exchange rates associated with trade receivables and payables denominated in foreign currencies, the Company monitors net changes in foreign exchange rates on a monthly basis for each currency.

With regard to investment securities, the Company periodically monitors the market value and financial conditions of the issuers and continuously reviews its holdings in consideration of market conditions.

(iii) Management of liquidity risks related to financing (risks of failure to make a payment on the due date)

In order to manage liquidity risks associated with trade payables, the Company uses cash management plans that the department in charge prepares and updates in a timely manner based on reports from each department, while maintaining liquidity on hand.

(4) Supplementary explanation on matters regarding fair value, etc., of financial instruments

Since variable factors are incorporated in the calculation of the fair value of financial instruments, such values may vary due to the adoption of different assumptions and other factors.

2. Matters regarding fair value, etc., of financial instruments

The carrying values, the fair values and their differences are as follows.

As of March 31, 2024

As of March 31, 2025

(*1) "Cash and deposits," "notes receivable - trade," "electronically recorded monetary claims - operating," "notes and accounts payable - trade," "electronically recorded obligations - operating," and "income taxes payable" are omitted because they are cash or their fair value approximates their book value due to their short maturities.

(*2) Allowance for doubtful accounts posted for accounts receivable - trade is deducted.

(*3) Shares and other securities without market prices are not included in "investment securities." The carrying values of such financial instruments on the consolidated balance sheet are as follows.

(Note) 1. Scheduled redemption amount of monetary claims after the consolidated balance sheet date

As of March 31, 2024

As of March 31, 2025

(Note) 2. Scheduled redemption amount of monetary obligations after the consolidated balance sheet date

As of March 31, 2024

As of March 31, 2025

Not applicable.

3. Matters regarding the breakdown of financial instruments by each fair value level

The fair values of financial instruments are categorized into the following three levels, in accordance with the observability and significance of the inputs used in the fair value calculation.

Level 1 fair value: Fair values calculated using the market price formed in active markets, applied to the assets and liabilities subject to fair value calculation, among observable inputs to the fair value calculation

Level 2 fair value: Fair values calculated using inputs to the fair value calculation other than those used in Level 1, among observable inputs to the fair value calculation

Level 3 fair value: Fair values calculated using unobservable inputs to the fair value calculation

When multiple inputs that have a significant effect on the fair value calculation are used, the fair value is categorized at the level of the lowest priority in the fair value calculation among the levels to which the respective inputs belong.

(1) Financial instruments recorded at fair value on the consolidated balance sheet

As of March 31, 2024

As of March 31, 2025

(2) Financial instruments other than those recorded at fair value on the consolidated balance sheet

As of March 31, 2024

As of March 31, 2025

(Note) Explanation of the valuation methods and inputs used in the fair value calculation

Accounts receivable - trade
Since accounts receivable - trade are settled in a short period of time, their fair value approximates their book value, and their fair value is calculated by deducting allowance for doubtful accounts equivalent to credit risk from their book value and categorized as Level 2 fair value.

Investment securities
Listed shares are valued using the market price. Since listed shares are traded on active markets, their fair value is categorized as Level 1 fair value.

Long-term borrowings
The fair value of long-term borrowings is calculated by the present value obtained by discounting the total of principal and interest at an interest rate that would be charged for similar new borrowings and categorized as Level 2 fair value.

(Securities)

1. Available-for-sale securities

As of March 31, 2024

As of March 31, 2025

2. Available-for-sale securities sold

Fiscal year ended March 31, 2024

Fiscal year ended March 31, 2025

Not applicable.

(Derivative Transactions)

1. Derivative transactions for which hedge accounting is not applied

Not applicable.

2. Derivative transactions for which hedge accounting is applied

Not applicable.

(Retirement Benefits)

1. Outline of retirement benefit plan adopted

The Company and its domestic consolidated subsidiaries have adopted a defined contribution pension plan.

2. Defined contribution plan

Required contributions to the defined contribution plan by the Company and its domestic consolidated subsidiaries were 103 million yen in the previous fiscal year and 105 million yen in the fiscal year under review.

(Stock Options, etc.)

Not applicable.

(Tax Effect Accounting)

1. Breakdown of deferred tax assets and deferred tax liabilities by major cause

2. Major causes of significant differences between the statutory effective tax rate and the actual effective income tax rate after application of deferred tax accounting

3. Adjustments to deferred tax assets and deferred tax liabilities due to changes in income tax rates

Following the enactment of the Act for Partial Amendment of the Income Tax Act, etc. (Act No. 13 of 2025) by the Diet on March 31, 2025, Special Defense Surtax will be imposed from the fiscal years beginning on or after April 1, 2026.

Accordingly, the effective statutory tax rate was changed from 30.33% to 31.22% for the calculation of deferred tax assets and deferred tax liabilities related to temporary differences expected to be eliminated in the fiscal years beginning on or after April 1, 2026.

The impact of this change is immaterial.

(Asset Retirement Obligations)

As of March 31, 2024

Omitted due to lack of materiality.

As of March 31, 2025

Omitted due to lack of materiality.

(Leased Real Property)

The Company has an office building (including land) for lease in Aichi Prefecture. Profit or loss from the leased property amounted to 4 million yen and △8 million yen for the previous fiscal year and the fiscal year under review, respectively (lease revenue was recorded under non-operating income and lease expenses were recorded under non-operating expenses).

The carrying amount, changes during the period, and fair value of the leased real property are as follows.

 (Notes) 1. The carrying amount is the acquisition cost less accumulated depreciation.

2. The main increase in "increase/decrease during period" in the previous fiscal year was the acquisition of non-current assets (15 million yen). The main decrease was depreciation (13 million yen).

The main decrease in "increase/decrease during period" in the fiscal year under review was depreciation (14 million yen).

3. The "fair value at end of period" is based on a real estate appraisal report by an outside real estate appraiser. However, if there have been no significant changes in certain valuations or indicators that are considered to reflect market prices since the most recent valuation, those valuations are used.

(Revenue Recognition)

1. Breakdown of revenue from contracts with customers

Fiscal year ended March 31, 2024

(Millions of yen)

Fiscal year ended March 31, 2025

(Millions of yen)

2. Basic information for understanding the revenue from contracts with customers

Notes are omitted because the same information is presented in "Significant accounting policies for preparation of consolidated financial statements, 4. Accounting policies (4) Recognition criteria for principal revenue and expenses" in the Notes to the Consolidated Financial Statements.

3. Relationship between the satisfaction of performance obligations under contracts with customers and cash flows from such contracts; and information on the amount and recognition timing of revenue expected to be generated from contracts with customers existing at the end of the fiscal year under review and to be recognized in the following fiscal year or later

(1) Balance of contract assets and contract liabilities

(Notes) 1. Contract liabilities are included in other under current liabilities on the consolidated balance sheets.

2. Contract liabilities mainly represent consideration received from customers prior to the delivery of finished goods or merchandise, and such contract liabilities are reclassified to revenue upon satisfaction of the corresponding performance obligation.

3. The amount of revenue recognized in the beginning balance of contract liabilities was 454 million yen in the previous fiscal year and 364 million yen in the fiscal year under review.

(2) Transaction prices allocated to remaining performance obligations

The Group has no significant transactions with an expected contract period exceeding one year. There are no material amounts of consideration arising from contracts with customers that are not included in the transaction price.

(Segment Information, etc.)

[Segment Information]

1. Overview of reportable segments

The Company's reportable segments are those of the Company's constituent units for which segregated financial information is available and is subject to periodic review by the Board of Directors in order to determine the allocation of management resources and evaluate performance.

The Company establishes business divisions for each product and service at its headquarters, and each business division formulates a comprehensive strategy for the products and services it handles in Japan and overseas and develops business activities.

Accordingly, the Company is comprised of product and service segments based on its Business Units, with two reportable segments: the Ceramic Components Business and the Lighting Equipment Business.

The Ceramic Components Business manufactures and sells electronic components, ceramic substrates, and products related to semiconductor manufacturing equipment. The Lighting Equipment Business manufactures and sells lighting equipment that uses LEDs in addition to conventional lighting equipment.

2. Method of calculating the amount of sales, profits or losses, assets and other items for each reportable segment

The accounting methods for the reportable business segments are the same as those described in "Significant accounting policies for preparation of consolidated financial statements."

Profit in the reportable segments is based on operating income. Transactions with other segments are based on prevailing market prices.

3. Information on the amount of sales, profits or losses, assets and other items for each reportable segment

Fiscal year ended March 31, 2024

(Notes) 1. Segment profit adjustment amount of (1,355) million yen includes (36) million yen in inter-segment eliminations and (1,319) million yen in corporate expenses that have not been allocated to each reportable segment. Corporate expenses consist of selling, general and administrative expenses that do not belong to any reportable segment.

2. Segment profit is adjusted to operating income in the consolidated statements of income.

3. Adjusted segment assets of 2,211 million yen are corporate assets that have not been allocated to each reportable segment. These include the parent company's surplus funds under management (time deposits, etc.), investment securities, etc., and assets related to the management department.

4. The adjustment for depreciation of 76 million yen is mainly for depreciation of corporate assets that have not been allocated to each reportable segment.

5. The adjustment for the increase in property, plant and equipment and intangible assets of 101 million yen is mainly an increase in corporate assets that are not allocated to each reportable segment.

Fiscal year ended March 31, 2025

(Notes) 1. The segment profit adjustment amount of (1,609) million yen includes 53 million yen in inter-segment eliminations and (1,663) million yen in corporate expenses that have not been allocated to each reportable segment. Corporate expenses consist of selling, general and administrative expenses that do not belong to any reportable segment.

2. Segment profit is adjusted to operating income in the consolidated statements of income.

3. Adjusted segment assets of 2,687 million yen are corporate assets that have not been allocated to each reportable segment. These include the parent company's surplus funds under management (time deposits, etc.), investment securities, etc., and assets related to the management department.

4. The adjustment for depreciation of 132 million yen is mainly for depreciation of corporate assets that have not been allocated to each reportable segment.

5. The adjustment for the increase in property, plant and equipment and intangible assets of 369 million yen is mainly an increase in corporate assets that are not allocated to each reportable segment.

[Related Information]

Fiscal year ended March 31, 2024

1. Information by product and service

This information is omitted because the same information is disclosed in the segment information.

2. Information by region

(1) Net sales

(Millions of yen)

(Note) 1. Net sales are based on the location of customers and classified by country or region.

(2) Property, plant and equipment

(Millions of yen)

3. Information by major customer

Revenues from external customers are not shown because there are no customers to which sales account for 10% or more of the net sales in the consolidated statements of income.

Fiscal year ended March 31, 2025

1. Information by product and service

This information is omitted because the same information is disclosed in the segment information.

2. Information by region

(1) Net sales

                                                                                                                    (Millions of yen)

(Note) 1. Net sales are based on the location of customers and classified by country or region.

(2) Property, plant and equipment

                                                                                                                    (Millions of yen)

3. Information by major customer

Revenues from external customers are not shown because there are no customers to which sales account for 10% or more of the net sales in the consolidated statements of income.

[Information on Impairment Loss on Non-current Assets by Reportable Segment]

Fiscal year ended March 31, 2024

Not applicable.

Fiscal year ended March 31, 2025

Not applicable.

[Information on Amortization of Goodwill and Unamortized Balance by Reportable Segment]

Fiscal year ended March 31, 2024

Not applicable.

Fiscal year ended March 31, 2025

Not applicable.

[Information on Gain on Bargain Purchase by Reportable Segment]

Fiscal year ended March 31, 2024

Not applicable.

Fiscal year ended March 31, 2025

Not applicable.

[Information on Related Parties]

Fiscal year ended March 31, 2024

Not applicable.

Fiscal year ended March 31, 2025

Not applicable.

(Per Share Information)

(Notes) 1. Since there are no dilutive shares, diluted earnings per share is not shown on the above table.

2. The basis for the calculation of earnings per share is as follows.

(Significant Subsequent Events)

Not applicable.

(v) [Supplementary Schedules]

[Schedule of Bonds]

Not applicable.

[Schedule of Borrowings, etc.]

[Schedule of Asset Retirement Obligations]

Since the amount of asset retirement obligations at the beginning and at the end of the fiscal year under review is not more than one percent of the combined total of liabilities and net assets at the beginning and at the end of the fiscal year under review, the description is omitted pursuant to Article 92-2 of the Ordinance on Terminology, Forms, and Preparation Methods of Consolidated Financial Statements.

(2) [Other]

Semi-annual information for the fiscal year ended March 31, 2025