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Condensed Financial Information of Deswell Industries, Inc. | 12 Months Ended
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Mar. 31, 2026
Condensed Financial Information of Deswell Industries, Inc. [Abstract] |
Condensed Financial Information of Deswell Industries, Inc. | 17. Condensed Financial Information of Deswell Industries, Inc. The condensed financial statements for parent company only, have been prepared in accordance with accounting principles generally accepted in the United States of America. Under the PRC laws and regulations, Deswell Industries, Inc.’s PRC subsidiaries are restricted in their ability to transfer certain of their net assets to Deswell Industries, Inc. in the form of dividend payments, loans or advances. The amounts restricted include paid-in capital and statutory reserves, as determined pursuant to PRC generally accepted accounting principles, totaling $51,984 (equivalent to RMB376 million) and $47,761 (equivalent to RMB314 million) as of March 31, 2025 and 2026, respectively. Balance sheets
|  | March 31, |
|  | 2025 |  |  | 2026 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 212 |  |  | $ | 72 |
Prepaid expenses and other current assets |  |  | 50 |  |  |  | 51 |
Amounts due from subsidiaries |  |  | 7,016 |  |  |  | 6,159 |
Total current assets |  |  | 7,278 |  |  |  | 6,282 |
Investments in subsidiaries |  |  | 95,861 |  |  |  | 104,030 |
Total assets |  | $ | 103,139 |  |  | $ | 110,312 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Accrued payroll and employee benefits |  | $ | 1,013 |  |  | $ | 915 |
Other accrued liabilities |  |  | 6 |  |  |  | 7 |
Total current liabilities |  |  | 1,019 |  |  |  | 922 |
Total shareholders’ equity |  |  | 102,120 |  |  |  | 109,390 |
Total liabilities and shareholders’ equity |  | $ | 103,139 |  |  | $ | 110,312 |
Statements of comprehensive income
|  | Year ended March 31, |
|  | 2024 |  |  | 2025 |  |  | 2026 |
Equity in earnings of subsidiaries |  | $ | 8,229 |  |  | $ | 11,854 |  |  | $ | 11,357 |
Operating expenses |  |  | 520 |  |  |  | 716 |  |  |  | 730 |
Income before income taxes |  |  | 7,709 |  |  |  | 11,138 |  |  |  | 10,627 |
Income taxes |  |  | — |  |  |  | — |  |  |  | — |
Net income |  |  | 7,709 |  |  |  | 11,138 |  |  |  | 10,627 |
Share of other comprehensive income of subsidiaries |  |  | — |  |  |  | — |  |  |  | — |
Total comprehensive income |  | $ | 7,709 |  |  | $ | 11,138 |  |  | $ | 10,627 |
Statements of cash flows
|  | Year ended March 31, |
|  | 2024 |  |  | 2025 |  |  | 2026 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |
Net income |  | $ | 7,709 |  |  | $ | 11,138 |  |  | $ | 10,627 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries |  |  | (8,229 | ) |  |  | (11,854 | ) |  |  | (11,357 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets |  |  | (2 | ) |  |  | (3 | ) |  |  | (1 | )
Amounts due from subsidiaries |  |  | 252 |  |  |  | 960 |  |  |  | 857 |
Other accrued liabilities |  |  | (444 | ) |  |  | (233 | ) |  |  | (97 | )
Net cash (used in) provided by operating activities |  |  | (714 | ) |  |  | 8 |  |  |  | 29 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Dividends received from subsidiary |  |  | 3,188 |  |  |  | 3,188 |  |  |  | 3,188 |
Net cash provided by investing activities |  |  | 3,188 |  |  |  | 3,188 |  |  |  | 3,188 |
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Dividends paid |  |  | (3,188 | ) |  |  | (3,188 | ) |  |  | (3,188 | )
Repurchase of treasury stock |  |  | -- |  |  |  | -- |  |  |  | (169 | )
Net cash used in financing activities |  |  | (3,188 | ) |  |  | (3,188 | ) |  |  | (3,357 | )
Net (decrease) increase in cash and cash equivalents |  |  | (714 | ) |  |  | 8 |  |  |  | (140 | )
Cash and cash equivalents, beginning of year |  |  | 918 |  |  |  | 204 |  |  |  | 212 |
Cash and cash equivalents, end of year |  | $ | 204 |  |  | $ | 212 |  |  | $ | 72 |
Basis of presentation In Deswell Industries, Inc.-only financial statements, Deswell Industries, Inc.’s investments in subsidiaries are stated at cost plus its equity interest in undistributed earnings of subsidiaries since inception. Accordingly, such financial statements should be read in conjunction with the Company’s consolidated financial statements. Deswell Industries, Inc. records its investments in its subsidiaries under the equity method of accounting as prescribed in ASC 323 “Investment-Equity Method and Joint Ventures”. Such investment is presented on the balance sheets as “Investments in subsidiaries” and share of the subsidiaries’ profit or loss as “Equity in earnings (loss) of subsidiaries”, on the statements of comprehensive income. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 4: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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