Better for Q1 and Buy-back
On 5 August 2021, KAGA ELECTRONICS, independent electronics trading conglomerate, released its Q1 FY03/2022 results. It has been revealed that the Company is seeing performance better than assumed in FY03/2022 initial Company forecasts (announced on 13 May 2021). Still, initial Company forecasts have remained unchanged due to uncertainty for the future, represented by shortage of semiconductors and the impacts stemming from COVID-19. In terms of performance for Q1 by segmentation of midterm management plan, the Company sees a recovery of demand in a wide range of fields on the Electronics Components side, while favorably increased demand associated with automotive, industry equipment and medical products on the EMS side. On top of this, the Company has made a steady progress in PMI（Post Merger Integration) with acquired subsidiaries, i.e., KAGA FEI (formerly, Fujitsu Electronics) and Excel, having resulted in a turnaround to surplus at the operating level for both. Meanwhile, the Company repurchased own shares from the largest shareholder (6 August 2021) through ToSTNet-3, i.e., 1,231,700 shares or ¥3,647m, equating to 4.48% of shares outstanding but for treasury shares. By the way, the repurchase of own shares this time has a scale much larger than the latest one (8 November to 20 December in 2016), i.e., 818,900 shares or ¥1,499m or 2.89%.