Related Party Transactions

9 Months Ended

Dec. 31, 2022

The Company entered into the following related party transactions for the periods indicated (in thousands):


	December 31, 2022
	Three Months Ended		Nine Months Ended
Joint Venture-GaNovation:
Product sale	$	1,774	$	3,246
Service revenue	67		131
Inventory purchase	96		345
Cost of goods sold	1,030		2,738
Research and development expense	141		330
Consumption tax	91		311
Employee and related benefits	35		124
Yaskawa:
Revenue per a cooperation and development agreement	221		991
Nexperia:
Product sale	923		1,778
Service fee income	—		66
Reimbursements in license maintenance fee	13		88
Interest expense	184		550

As of December 31, 2022, total due from related parties was $2.2 million, consisting of $1.3 million due from GaNovation and $0.9 million accounts receivable from Nexperia. As of December 31, 2022, total due to related parties was $1.2 million to GaNovation and $0.2 million to Nexperia.

The Company entered into the following related party transactions for the periods indicated (in thousands):


	December 31, 2021
	Three Months Ended		Nine Months Ended
Joint Venture-GaNovation (1):
Inventory purchase	$	70	$	140
Cost of goods sold	791		2,306
Research and development expense	102		401
Consumption tax	55		92
Employee and related benefits	124		221
Gain upon termination of JVA and settlement of its obligation	—		1,455
Yaskawa:
Revenue per a cooperation and development agreement	375		1,084
Gain on Yaskawa promissory note conversion	1,221		1,221
Non-controlling stockholder:
Product sale	—		19
License maintenance fee	—		111
Consulting expense	—		176
GaNovation:
Product sale	251		405
Nexperia:
Product sale	504		1,010
License fee income	—		8,479
Reimbursements in license maintenance fee	38		113
Interest expense	184		534

(1) Includes transactions for AFSW during the four months ended July 30, 2021.

As of March 31, 2022, total due from related parties was $1.2 million, consisting of $719 thousand due from the joint venture and $515 thousand accounts receivable from a stockholder and noteholder of the Company. As of March 31, 2022, total accounts payable to related parties was $760 thousand to the joint venture and $102 thousand to Nexperia.