Results Summary (Japan GAAP)
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Below is the summary announced on January 31, 2024 of financial results for 3Q FY2023 nine months ended December 31, 2023.
Consolidated Financial Summary
The targets of Fuji Electric’s Reiwa Prosperity 2023 medium-term management plan, which concludes with the fiscal year ending March 31, 2024, were accomplished a year ahead of schedule in the fiscalyear ended March 31, 2023. Specifically, these targets were net sales of ¥1 trillion and an operatingprofit ratio of more than 8.0%. To achieve further growth in the fiscal year ending March 31, 2024, theyear of the centennial anniversary of Fuji Electric’s founding, the Company will move forward withthe promotion of growth strategies centered on expanding its power electronics and powersemiconductor businesses, the further improvement of profitability through the strengthening ofglobal manufacturing capabilities, and the ongoing reinforcement of operating foundations focused onenvironmental, social, and governance (ESG) factors, with a particular emphasis on human resourcesin regard to social factors. In addition, adaptiveness toward operating environment changes will beheightened with the goal of growing sales and profit.
Operating Income, Ordinary Income and Profit Attributable to Owners of Parent
Consolidated Financial Results by Segments
In the power generation business, net sales and operating results were down year on year due to the absence of large-scale renewable energy projects recorded in the previous equivalent period.
In the energy management business, net sales and operating results were up year on year as a result of increases in large-scale orders for substation equipment for industrial applications and for power supply equipment.
In the power supply and facility systems business, net sales and operating results improved year on year as a result of increases in projects from data centers and semiconductor manufacturers.
In the ED&C components business, net sales and operating results were down year on year due to reductions in demand from finished machinery manufacturers and for semiconductor production
In the automation systems business, net sales and operating results were up year on year largely as a result of increased production of factory automation components.
In the social solutions business, net sales and operating results were up year on year due to increases in orders for nuclear power- and radiation-related equipment.
In the equipment construction business, net sales and operating results were up year on year as a result of the recording of large-scale orders for air-conditioning equipment construction.
In the IT solutions business, net sales were up year on year due to higher demand for large-scale publicand academic-sector projects while operating results were down because of differences in profitability between projects.
Food and Beverage Distribution
In the vending machine business, net sales and operating results improved year on year because of growth in demand in Japan and the benefits of cost reduction activities.
In the store distribution business, net sales and operating results were up year on year due to higher orders for counter fixtures combined with growth in demand for convenience store equipment renovations.
Forecasts for the Fiscal Year Ending March 31, 2024
The forecast assumes exchange rates of US$1 = ¥140, €1 = ¥150, and RMB1 = ¥19.5 for the period from January 1, 2024, onward.
（Forecasts by Segment）
Effective October 1, 2023, the Power Electronics Energy, Power Electronics Industry, and Power Generation segments were reorganized to form the Energy and Industry segments. Accordingly, the Company now has five reportable segments—Energy, Industry, Semiconductor, Food and Beverage Distribution, and Others. Previously announced figures have been restated to reflect this change in reportable segments.
Quartaly Financial Results
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Net Sales by Segment
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Operating Income (Loss) by Segment
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