Fact Book 2024 (169KB)

Latest Financial Results

(Millions of Yen)

	2023/3	2024/3	Year on Year (%)
Orders received	59,521	62,290	4.7
Net sales	52,892	62,126	17.5
Operating profit	4,366	6,585	50.8
Ordinary profit	4,664	6,919	48.3
Profit attributable to owners of parent	3,330	4,969	49.2

During fiscal 2023, the year ended March 31, 2024, the ESPEC Group’s business environment saw firm electronics- and automotive-related investments against a backdrop of digitalization and decarbonization in society. Demand continued to be strong mainly in the shift toward electric vehicles (EV). From the production aspect, although procuring certain parts continued to require lengthy delivery times, the Group increased its production output through measures such as strategically accumulating inventories.
Looking at the Company’s operating results for fiscal 2023, orders received increased 4.7% year on year to ¥62,290 million, reaching an all-time high for 3 consecutive years. This increase was supported by strong orders in the electric vehicle (EV) and battery fields, particularly in the domestic market. Net sales increased 17.5% year on year to ¥62,126 million, a record high for the second straight year. On the profit front, operating profit was ¥6,585 million, a year-on-year increase of 50.8%. This increase was mainly due to higher sales and the effect of raising product and service prices, which offset the impact of an increase in selling, general and administrative expenses. Profit attributable to owners of parent increased by 49.2% year on year to ¥4,969 million. Both operating profit and profit attributable to owners of parent reached record highs. In addition, return on equity (ROE) stood at 10.0%.

Performance by Segment

＜Equipment Business＞

(Millions of Yen)

	2023/3	2024/3	Year on Year (%)
Orders received	51,446	53,565	4.1
Net sales	45,031	53,518	18.8
Operating profit	3,919	5,848	49.2

In the environmental test chambers field, in the Japanese market orders received remained on a par with the previous fiscal year for highly versatile standardized products, but increased for customized products, mainly in the electric vehicle (EV) and battery areas. Net sales increased for both standardized products and customized products, as production measures were strengthened, including shifting key personnel to customized products. In overseas markets, orders received were down year on year, due to decreases in China and Europe. Net sales rose year on year, mainly due to increases in North America, Europe, South Korea, Taiwan, and Southeast Asia.
In the energy devices equipment field, orders received substantially increased year on year due to strong orders for chambers for charge-discharge testing mainly in the Japanese market due to the expansion of investment for electric vehicles (EV) and batteries. Net sales rose significantly as the production system was improved.
In the semiconductor equipment field, both orders received and net sales decreased year on year, mainly due to the impact of memory-related investment restraint.
As a result, the equipment business on the whole saw orders received increase 4.1% to ¥53,565 million and net sales increase 18.8% to ¥53,518 million. On the profit front, the Company recorded operating profit of ¥5,848 million, an increase of 49.2% year on year, mainly due to an increase in net sales and the effect of raising product prices, which offset the impact of an increase in selling, general and administrative expenses.

＜Service Business＞

(Millions of Yen)

	2023/3	2024/3	Year on Year (%)
Orders received	6,963	7,634	9.6
Net sales	6,788	7,536	11.0
Operating profit	428	681	59.3

In the after-sales service and engineering field, orders received and net sales both increased year on year as preventative maintenance services and repair services were solid.
In laboratory testing services and facility rentals, orders received and net sales both rose year on year, due to a brisk performance in laboratory testing services, centered on automotive rechargeable batteries.
As a result, the service business on the whole saw orders received increase 9.6% year on year to ¥7,634 million, and net sales increase 11.0% to ¥7,536 million. On the profit front, the Company recorded operating profit of ¥681 million, an increase of 59.3% year on year, mainly due to an increase in net sales and the effect of raising service prices.

＜Other Business＞

(Millions of Yen)

	2023/3	2024/3	Year on Year (%)
Orders received	1,469	1,453	(1.1)
Net sales	1,404	1,455	3.7
Operating profit	16	51	211.0

In the other business field, which is centered on the environmental conservation and plant production systems business, orders received were ¥1,453 million, which was on a par with the previous fiscal year. This result mainly reflected the capture of orders received for aquaponics, a new field the Company is involved in that combines hydroponics and land-based aquaculture, which was offset primarily by decreases in orders received for reforestation (tree planting) and plant research devices. Net sales increased 3.7% year on year to ¥1,455 million, owing to firm sales of waterfront biotope restoration and vegetables. The Company recorded operating profit of ¥51 million, an increase of 211.0% year on year.

Related Pages:

• Preliminary Results
• Results Briefings