FINANCIAL RESULTS
FY2025 First Quarter(April 1, 2024 through June 30, 2024)

English translation from the original Japanese-language document

Cautionary Statement with Respect to Forward-Looking Statements
This report contains projections and other forward-looking statements that involve risks and uncertainties. Our use of thewords "expect," "anticipate," "estimate," "forecast," "plan" and similar expressions is intended to identify such forward-looking
statements. Projections and forward-looking statements are based on the current expectations and estimates of Toyota
Industries Corporation and its Group companies regarding their plans, outlook, strategies and results for the future. All suchprojections and forward-looking statements are based on management's assumptions and beliefs derived from theinformation available to it at the time of producing this report and are not guarantees of future performance. Toyota Industries
corporation and its Group companies undertake no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. Therefore, it is advised that you should not rely solely
upon these projections and forward-looking statements in making your investment decisions. You should also be aware thatcertain risks and uncertainties could cause the actual results of Toyota Industries Corporation and its Group companies todiffer materially from any projections or forward-looking statements discussed in this report. These risks and uncertainties
include, but are not limited to, the following: 1) compliance risks, 2) reliance on a small number of customers, 3) productdevelopment capabilities, 4) intellectual property rights, 5) product defects, 6) price competition, 7) reliance on suppliers of
raw materials and components, 8) environmental regulations and climate change, 9) success or failure of strategic allianceswith other companies, 10) exchange rate fluctuations, 11) share price fluctuations, 12) effects of disasters, power blackouts
and other incidents, 13) latent risks associated with international activities and 14) security risks.

July 31, 2024

FY2025 First Quarter Consolidated Financial Results<IFRS>(April 1, 2024 - June 30, 2024)
TOYOTA INDUSTRIES CORPORATION
Stock exchange listings: Tokyo and Nagoya (Code number: 6201) (URL: https://www.toyota-industries.com/ )Representative person: Koichi Ito, President, Member of the Board
Contact person: Koichi Tamaki, General Manager of Accounting Department(Tel. +81-(0)566-22-2511)

The expected date of dividends payment: －Additional documents to supplement financial results: Yes
IR presentation: Yes (For analysts and professional investors)(Amounts less than one million yen are omitted)
1. Financial Highlights for FY2025 First Quarter (April 1, 2024 - June 30, 2024)(1) Consolidated Financial Results(% : changes from the same period of the previous fiscal year)
Net sales

Profit before
income taxes

Operating profit

Million yen%

Million yen%

ProfitMillion yen%

Million yen%

FY2025First
Quarter

1,025,758

15.3

67,89629.3

139,88825.3

112,458

25.7

FY2024First
Quarter

889,455

17.1

52,50920.4

111,60921.7

89,43825.1

Profit attributable toowners of the parent
Million yen

Comprehensive
income%Earnings
per share－basic

Million yen%

Earnings
per share－diluted
Yen

Yen

FY2025First
Quarter

111,206

27.9(252,620)－

358.18358.18FY2024First
Quarter

86,97821.4

710,100－

280.14280.14Equity attributable toowners of the parent

Ratio of equity attributableto owners of the parent
to total assets(2) Consolidated Financial Position

Total assets
Million yen

FY2025First
Quarter
FY2024

Total equity
Million yen

Million yen%

10,671,127

5,853,789

5,743,903

53.8

11,078,462

6,153,359

6,045,759

54.6

2. Cash Dividends

Annual cash dividends per share
1st
Quarter

2nd
QuarterYen

FY2024FY2025－－

FY2025(Forecast)

3rd
Quarter

4th
QuarterYen

Yen

FY Total
Yen

Yen

100.00－140.00240.00140.00－140.00280.00(Note) Changes in the forecasted cash dividends in this quarter : No
3. Forecasts of Consolidated Financial Results for FY2025 (April 1, 2024 - March 31, 2025)(% : changes from the previous fiscal year)
Net sales
Million yen

FY20253,900,000

Profit before
income taxes

Operating profit%

1.7

Million yen

250,000%

24.7

Million yen

355,000

Profit attributable toowners of the parent%

14.8

Million yen

260,000

Earnings
per share－basic

%

13.6

Yen

837.42(Note) Changes in the forecasts of consolidated financial results in this quarter : No
4. Others(1) Significant changes in the scope of consolidation during the period : No
(2) Changes in accounting policies and accounting estimates(i) Changes in accounting policies required by IFRS : No(ii) Changes other than (i) : No(iii) Changes in accounting estimates : No
(3) Issued and outstanding capital stock(i) Number of shares outstanding at end of each period (including treasury stock):
FY2025 First Quarter －325,840,640 shares, FY2024 －325,840,640 shares(ii) Number of treasury stock outstanding at end of each period:
FY2025 First Quarter －15,363,962 shares, FY2024 －15,363,605 shares(iii) Average number of shares outstanding for each period (accumulated):
FY2025 First Quarter －310,476,864 shares, FY2024 First Quarter －310,478,922 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public
accountants or an audit firm : No
* Explanation regarding the proper use of performance forecasts and other special items- All projections are based on the information currently available to management and certain assumptions deemed
reasonable by Toyota Industries, and are not guarantees of future performance. Actual results could differ from thoseprojections due to uncertainties including economic conditions and exchange rate fluctuations.
- Our projections are based on assumed exchange rates of 148 yen to the U.S. dollar and 158 yen to the euro for
FY2025.
- Please see page 3 on attached documents for details on performance forecasts in "Explanation for Forecast for
FY2025".

Attached documents－Contents

1. Explanation for Quarterly Financial Results ................................................................................................

2(1) Explanation for Business Results .....................................................................................................................

2(2) Explanation for Financial Condition ..................................................................................................................

3(3) Explanation for Cash Flows ..............................................................................................................................

3(4) Explanation for Forecast for FY2025 ................................................................................................................

3

2. Condensed Quarterly Consolidated Financial Statements and Main Notes .......................................

4(1) Condensed Quarterly Consolidated Financial Position ....................................................................................

4(2) Condensed Quarterly Consolidated Statement of Profit or Loss andCondensed Quarterly Consolidated Statement of Comprehensive Income .....................................................
(3) Condensed Quarterly Consolidated Statement of Changes in Equity .............................................................

68(4) Condensed Quarterly Consolidated Statement of Cash Flows.........................................................................

10(5) Note on Condensed Quarterly Consolidated Financial Statements .................................................................

11(Note on Premise of Going Concern) ................................................................................................................

11(Note on Significant Changes in the Amount of Shareholders' Equity) .............................................................

11(Segment Information) .......................................................................................................................................

12(Subsequent Events) .........................................................................................................................................

13

― 1 ―

1. Explanation for Quarterly Financial Results(1) Explanation for Business Results
During the first quarter of FY2025 (the three months from April 1 to June 30, 2024), total consolidated net sales of Toyota
Industries amounted to 1,025.7 billion yen, an increase of 136.3 billion yen, or 15%, from the same period of the previous
fiscal year. In terms of overall profit, despite an increase in labor costs, raw material costs and expenses and others
including development expenses and depreciation, owing to an increase in sales and the impact of exchange rate
fluctuations, Toyota Industries posted consolidated operating profit of 67.8 billion yen, an increase of 15.3 billion yen, or
29%, from the same period of the previous fiscal year. Profit before income taxes totaled 139.8 billion yen, an increase of
28.2 billion yen, or 25% and profit attributable to owners of the parent totaled 111.2 billion yen, an increase of 24.3 billion
yen, or 28%.
Business results by business segment are as follows.
Net sales of the Automobile Segment totaled 283.9 billion yen, an increase of 16.2 billion yen, or 6%, from the same
period of the previous fiscal year. Operating profit amounted to 15.1 billion yen, an increase of 2.4 billion yen, or 19%.
Within this segment, net sales of the Vehicle Business totaled 25.4 billion yen, an increase of 1.9 billion yen, or 8%, due
to increases in sales of Toyota RAV4 both for Japan and abroad.
Net sales of the Engine Business totaled 83.7 billion yen, a decrease of 4.9 billion yen, or 5%, resulting mainly from adecrease in sales of diesel engines.
Net sales of the Car Air-Conditioning Compressor Business totaled 121.1 billion yen, an increase of 10.2 billion yen, or
9%, due to an increase in sales of electric compressors and the impact of exchange rate fluctuations, despite in sales
volumes.
Net sales of the Electronics Parts and Others Business totaled 53.5 billion yen, an increase of 8.9 billion yen, or 20%,
attributable primarily to increases in sales of batteries and DC-DC converters.
Net sales of the Materials Handling Equipment Segment totaled 710.4 billion yen, an increase of 121.4 billion yen, or 21%.
This was due to the increase in forklift prices and the impact of exchange rate fluctuations, despite a decrease in sales oflift trucks, a mainstay product of this segment, primarily in Asia. Operating profit amounted to 50.7 billion yen, an increaseof 15.1 billion yen, or 42%.
Net sales of the Textile Machinery Segment totaled 17.3 billion yen, a decrease of 3.6 billion yen, or 18%, as a result of adecrease in sales of yarn quality measurement instruments, offsetting an increase in sales of weaving machinery.
Operating profit amounted to 0.1 billion yen, a decrease of 2.1 billion yen, or 93%.

― 2 ―(2) Explanation for Financial Condition
Assets amounted to 10,671.1 billion yen, a decrease of 407.3 billion yen from the end of the previous fiscal year, mainly
due to a decrease in fair value of investment securities. Liabilities amounted to 4,817.3 billion yen, a decrease of 107.8
billion yen from the end of the previous fiscal year. This was primarily because of a decrease in deferred tax liabilities.
Equity amounted to 5,853.7 billion yen, a decrease of 299.6 billion yen from the end of the previous fiscal year.

(3) Explanation for Cash FlowsNet cash used in operating activities was 15.9 billion yen compared with a net gain of 90.9 billion yen in the previous fiscal
year, attributable to payments for Income taxes of 96.3 billion yen, which offset posting profit before income taxes of 139.8
billion yen.
Net cash used in investing activities was 32.9 billion yen, attributable primarily to payments for purchases of property,
plant and equipment of 46.0 billion yen and payments for bank deposits of 42.3 billion yen, which offset proceeds fromwithdrawals of bank deposits of 72.6 billion yen. Net cash used in investing activities decreased by 5.1 billion yen
compared to that of 38.0 billion yen in the previous fiscal year.
Net cash provided by financing activities was 31.5 billion yen compared with a net loss 18.3 billion yen in the previous
fiscal year, due mainly to net increase in commercial paper of 84.4 billion yen.
After adding translation adjustments and cash and cash equivalents at beginning of period, cash and cash equivalents
as of June 30, 2024 stood at 487.8 billion yen, a decrease of 9.0 billion yen, or 2%, from the end of the previous fiscal
year.

(4) Explanation for Forecast for FY2025
Toyota Industries forecasts consolidated net sales of 3,900.0 billion yen, operating profit of 250.0 billion yen, profit before
income taxes of 355.0 billion yen and profit attributable to owners of the parent of 260.0 billion yen. Our projections are
based on exchange rates of 148 yen to the U.S. dollar and 158 yen to the euro for FY2025.

― 3 ―2. Condensed Quarterly Consolidated Financial Statements and Main Notes(1) Condensed Quarterly Consolidated Financial Position(Millions of yen)
FY2024(As of March 31, 2024)
AssetsCurrent assets
Cash and cash equivalents
Time deposits with deposit terms ofover three months
Trade receivables and other receivables
Other financial assets
Inventories
Income tax receivables
Other current assets
Total current assets
Non-current assets
Property, plant and equipment
Goodwill and intangible assets
Trade receivables and other receivables
Investments accounted for by the equity method
Other financial assets
Net defined benefit assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets― 4 ―FY2025 First Quarter(As of June 30, 2024)

496,849

487,819

243,358

220,603

1,638,998
5,564
619,082
14,487111,189
3,129,531

1,739,242
7,299
666,510
15,144
129,405
3,266,026

1,448,343
537,974813
30,016
5,828,188
44,19351,597
7,803
7,948,931
11,078,462

1,513,588
568,214816
31,866
5,180,667
44,87557,161
7,911
7,405,101
10,671,127

(Millions of yen)
FY2024(As of March 31, 2024)
Liabilities and Equity
Liabilities
Current liabilities
Trade payables and other payables
Corporate bonds and loans
Other financial liabilities
Accrued income taxes
Provisions
Other current liabilities
Total current liabilities
Non-current liabilities
Corporate bonds and loans
Other financial liabilities
Net defined benefit liabilities
Provisions
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities
EquityShare of equity attributable to owners of the parent
Capital stock
Capital surplus
Retained earnings
Treasury stock
Other components of shareholders' equity
Total share of equity attributable to owners of the parent
Non-controlling interests
Total equity
Total liabilities and equity― 5 ―FY2025 First Quarter(As of June 30, 2024)

876,925
424,486
93,950110,079
85,89047,864
1,639,197

857,879
607,887
91,95644,85574,38952,3981,729,368

1,281,779
142,323
68,767
15,0591,730,231
47,743
3,285,906
4,925,103

1,267,122
147,179
70,596
15,614
1,538,366
49,091
3,087,970
4,817,338

80,462
99,581
1,990,203(59,369)
3,934,880
6,045,759
107,599
6,153,359
11,078,462

80,462
98,4402,057,118(59,374)
3,567,257
5,743,903
109,8855,853,789
10,671,127

(2) Condensed Quarterly Consolidated Statement of Profit or Loss and Condensed Quarterly
Consolidated Statement of Comprehensive Income
Condensed Quarterly Consolidated Statement of Profit or Loss
(Millions of yen)
FY2024 First Quarter(April 1, 2023
- June 30, 2023)
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Other income
Other expenses
Operating profit
Financial income
Financial expenses
Share of profit (loss) of investments accounted forby the equity method
Profit before income taxes
Income taxes
ProfitProfit attributable to:
Owners of the parent
Non-controlling interests
Earnings per share
Earnings per share－basic (yen)Earnings per share－diluted (yen)― 6 ―FY2025 First Quarter(April 1, 2024
- June 30, 2024)

889,455(686,001)
203,453(151,104)
3,221(3,062)52,50963,406(4,892)

1,025,758(780,465)
245,293(177,667)
2,970(2,700)67,89675,701(4,618)585

909

111,609(22,171)
89,438139,888(27,429)
112,458

86,9782,459

111,206
1,251

280.14280.14358.18358.18

Condensed Quarterly Consolidated Statement of Comprehensive Income(Millions of yen)
FY2024 First Quarter(April 1, 2023
- June 30, 2023)
ProfitOther comprehensive income:Items not to be reclassified into profit or loss
Net changes in revaluation of FVTOCI financial assets
Remeasurements of defined benefit plans
Other comprehensive income of affiliates accounted forby the equity method
Total items not to be reclassified into profit or loss
Items that can be reclassified into profit or loss
Translation adjustments of foreign operations
Cash flow hedges
Other comprehensive income of affiliates accounted forby the equity method
Total items that can be reclassified into profit or loss
Total other comprehensive income
Comprehensive income
Total comprehensive income attributable to:
Owners of the parent
Non-controlling interests― 7 ―FY2025 First Quarter(April 1, 2024
- June 30, 2024)

89,438112,458

528,375(1,255)(452,692)
(822)

30

(28)

527,150(453,543)

91,731
875

87,228
189

904

1,047

93,511
620,661
710,100

88,464(365,079)(252,620)

704,073
6,026(257,241)
4,620

(3) Condensed Quarterly Consolidated Statement of Changes in Equity(Millions of yen)
Share of equity attributable to owners of the parent
Other components ofshareholders' equity
Capitalstock

Balance as of April 1, 2023

CapitalsurplusRetainedearnings

Treasurystock

Net changes in
Remeasurements
revaluation ofof defined benefit
FVTOCI financial
plans
assets80,462

101,245

1,652,648(59,345)

1,960,101

Profit－－86,978－－－Other comprehensive income

－

－

－

－

528,003(1,310)Total comprehensive income

－

－

－

86,978－528,003(1,310)

Repurchase of treasury stock

－

－

－

(3)

－

－

Disposal of treasury stock

－

0

－

0

－

－

Dividends
Changes in ownership interest of
subsidiaries
Changes in non-controlling interests as aresult of change in scope of consolidation
Reclassified into retained earnings－－(31,047)

－

－

－

－

(0)

－

－

－

－

－

－

－

－

－

－

－

－

(1,093)

－

(217)

1,310

Other increases (decreases)

－

(25)

－

－

－

－

Total transactions with owners

－

(24)

(32,141)

(3)

(217)

1,310

Balance as of June 30, 2023

80,462

101,220

1,707,485(59,348)2,487,887－

Balance as of April 1, 2024

80,462

99,581

1,990,203(59,369)3,689,589－

Profit－－111,206－－－

Other comprehensive income

－

－

－

－

(452,822)(825)

Total comprehensive income－－

111,206－(452,822)(825)

Repurchase of treasury stock

－

－

－

(5)

－

－

Disposal of treasury stock

－

－

－

－

－

－

Dividends
Changes in ownership interest of
subsidiaries
Changes in non-controlling interests as aresult of change in scope of consolidation
Reclassified into retained earnings－－(43,466)

－

－

－

－

366

－

－

－

－

－

－

－

－

－

－

－

－

(825)

－

(0)

825

Other increases (decreases)－(1,507)

－

－

－

－

Total transactions with owners－(1,141)(44,292)

(5)

(0)

825

Balance as of June 30, 2024

80,462

98,4402,057,118(59,374)

3,236,766

－

― 8 ―

(Millions of yen)
Share of equity attributable to owners of the parent
Other components of shareholders' equity
Translation
adjustmentsof foreign
operations
Balance as of April 1, 2023
ProfitOther comprehensive income
Total comprehensive income

Cash flow
hedgesNon-controllinginterests

Total

Total

Total equity

96,0326,269

2,062,404

3,837,416

97,985－－－86,9782,459

3,935,401
89,43889,526875

617,095

617,095

3,566

620,661

89,526875

617,095

704,073

6,026

710,100

Repurchase of treasury stock

－

－

－

(3)

－

(3)

Disposal of treasury stock

－

－

－

0

－

0

Dividends
Changes in ownership interest of
subsidiaries
Changes in non-controlling interests as aresult of change in scope of consolidation
Reclassified into retained earnings

－

－

－

(31,047)(690)(31,738)

－

－

－

(0)

(173)

(173)

－

－

－

－

－

－

－

－

1,093

－

－

－

Other increases (decreases)

－

－

－

(25)

－

(25)

Total transactions with owners

－

－

1,093

(31,076)(864)(31,940)

Balance as of June 30, 2023

185,559

7,145

2,680,593

4,510,413

103,147

4,613,561

Balance as of April 1, 2024

239,439

5,851

3,934,880

6,045,759

107,599

6,153,359

ProfitOther comprehensive income
Total comprehensive income

－

－

－

111,206

1,251

112,458

85,010189(368,448)(368,448)

3,369(365,079)

85,010189(368,448)(257,241)

4,620(252,620)

Repurchase of treasury stock

－

－

－

(5)

－

(5)

Disposal of treasury stock

－

－

－

－

－

－

Dividends
Changes in ownership interest of
subsidiaries
Changes in non-controlling interests as aresult of change in scope of consolidation
Reclassified into retained earnings

－

－

－

(43,466)(1,818)(45,285)

－

－

－

366

(517)

(150)

－

－

－

－

－

－

－

－

825

－

－

－

Other increases (decreases)

－

－

－

(1,507)－(1,507)

Total transactions with owners

－

－

825

(44,613)(2,335)(46,948)

Balance as of June 30, 2024

324,449

6,040

3,567,257

5,743,903

109,8855,853,789― 9 ―(4) Condensed Quarterly Consolidated Statement of Cash Flows(Millions of yen)
FY2024 First Quarter(April 1, 2023
- June 30, 2023)
Cash flows from operating activities:
Profit before income taxes
Depreciation and amortization
Impairment losses
Interest and dividends income
Interest expenses
Share of (profit) loss of investments accounted
for by the equity method(Increase) decrease in inventories(Increase) decrease in trade receivables andother receivables
Increase (decrease) in trade payables and other payables
OthersSubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Payments for purchases of property, plant and equipment
Proceeds from sales of property, plant and equipment
Payments for purchases of investment securities
Proceeds from sales of investment securities
Payments for acquisition of subsidiaries' stock
resulting in change in scope of consolidation
Payments for bank deposits
Proceeds from withdrawals of bank deposits
Payments for transfer of businesses
OthersNet cash provided by (used in) investing activities
Cash flows from financing activities:
Net increase (decrease) in short-term loans
payable (within three months)
Proceeds from short-term loans payable(over three months)
Repayments of short-term loans payable(over three months)
Net increase (decrease) in commercial paper
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from issuance of corporate bonds
Repayments of corporate bonds
Repayments of lease liabilities
Payments for repurchase of treasury stock
Cash dividends paid
Cash dividends paid to non-controlling interests
OthersNet cash provided by (used in) financing activities
Translation adjustments of cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period― 10 ―FY2025 First Quarter(April 1, 2024
- June 30, 2024)

111,60966,60885(59,417)
4,184

139,888
79,227544(71,906)
2,750

(585)

(909)

(19,426)(14,605)(22,262)(7,125)(7,381)(20,218)
53,19560,269(4,454)(18,092)
90,918(45,304)(71,433)
11,126
71,985(2,645)(96,394)(15,927)(77,365)
5,163
(325)
639

(46,037)
979
(181)
7

(616)

(503)

(195,791)
236,317－(6,102)(38,082)(42,354)
72,662(69)(17,454)(32,951)(17,167)

16,55523,683

10,876(6,411)(11,579)

58,20068,226(43,206)
11,264(77,584)(11,445)(3)(31,047)
(690)
7,812
(18,370)
8,093
42,559202,731245,291

84,461
16,549(39,680)
28,497(12,026)(18,842)(5)(43,466)(1,818)2,005
31,5288,319(9,030)496,849
487,819

(5) Note on Condensed Quarterly Consolidated Financial Statements(Note on Premise of Going Concern) : No
(Note on Significant Changes in the Amount of Shareholders' Equity)
During the first quarter of FY2025, Toyota Industries paid dividends of 43,466 million yen from retained earnings.

― 11 ―

(Segment Information)
FY2024 First Quarter (April 1, 2023 - June 30, 2023)(Millions of yen)

Sales
Outside customer
sales
Inter-segment sales
and transfers
Total
Segment profit

Automobile

Materials
Handling
Equipment

TextileMachinery

267,798

589,058

20,976

11,622

889,455－

889,455

6,355

142

70

8,148

14,716(14,716)－

274,154589,200

21,046

19,771

904,172(14,716)

889,455

12,79135,667

2,227

1,975

52,661(151)

52,509Others

Total

Adjustments Consolidated

Financial income

63,406

Financial expenses(4,892)

Share of profit (loss) ofinvestments accounted
for by the equity
methodProfit before income
taxes(Notes)585

111,609

1. "Others" represents businesses not included in the reporting segments.
2. (151) million yen included in "Adjustments" for "Segment profit" is mainly inter-segment transactions.
3. "Segment profit" reconciles to operating profit disclosed in the condensed quarterly consolidated statementof profit or loss.

FY2025 First Quarter (April 1, 2024 - June 30, 2024)(Millions of yen)

Sales
Outside customer
sales
Inter-segment sales
and transfers
Total
Segment profit
Financial income
Financial expenses
Share of profit (loss) ofinvestments accounted
for by the equity
methodProfit before income
taxes(Notes)Automobile

Materials
Handling
Equipment

TextileMachinery

283,949

710,411

17,304

14,093

1,025,758－

1,025,758

4,993

1,121

27

8,285

14,427(14,427)－

288,942
15,166

711,533
50,785

17,331
163

22,3781,952

1,040,186
68,067(14,427)(171)

1,025,758
67,89675,701(4,618)Others

Total

Adjustments Consolidated

909

139,888

1. "Others" represents businesses not included in the reporting segments.
2. (171) million yen included in "Adjustments" for "Segment profit" is mainly inter-segment transactions.
3. "Segment profit" reconciles to operating profit disclosed in the condensed quarterly consolidated statementof profit or loss.

― 12 ―

(Subsequent Events)
The Company announced that a resolution was adopted at a meeting of the Board of Directors held on May 10, 2024 torepurchase shares of its common stock pursuant to Article 156 of the Companies Act as applied pursuant to Article 165,
Paragraph 3 of said Act as follows. In addition, at the Board of Directors' meeting held on June 6, 2024, as stated below, theCompany resolved to conduct a tender offer for its shares (the "Tender Offer") as a specific method of repurchasing its
shares pursuant to the Company's articles of incorporation and Article 156, Paragraph 1 of the Companies Act as applied
pursuant to Article 165, Paragraph 3 of said Act.
The Tender Offer was completed on July 4, 2024. Upon completion of the Tender Offer, the Company plans to acquire its
common stock through open-market purchases on the Tokyo Stock Exchange from August 1, 2024 to May 12, 2025 for up
to 7,490,677 shares obtained by deducting the number of the Company's common shares acquired through the Tender Offer(2,509,323 shares) from the total number of shares to be acquired in the repurchase of Company shares (10 million shares)
pursuant to the resolution adopted at a meeting of the Board of Directors held on May 10, 2024.
(1) Reason for the acquisition of treasury stock
The purpose of the Stock Repurchase is to improve capital efficiency, to return profits to shareholders, and to enable
flexible and agile implementation of capital policies in response to changes in the business environment.
(2) Details of the resolution passed at the meeting of the Board of Directors held on May 10, 2024
① Type of shares to be purchased: Common stock② Total number of shares to be purchased: Up to 10,000,000 shares(3.22% of total number of issued shares (excluding treasury stock))③ Total cost of the purchase: Up to 180,000 million yen④ Repurchase period: From May 13, 2024 to May 12, 2025
Note: Some or all of the repurchase may not take place depending on market trends.
(3) Overview of the Tender Offer① Number of Share Certificates Planned for Purchased: 3,000,000 shares② Publication date for commencing the Tender Offer: June 7, 2024
③ Tender Offer Period: June 7, 2024 to July 4, 2024
④ Tender Offer Price: 12,830 yen per share of common stock⑤ Commencement Date of Settlement: July 29, 2024
(4) Results of Tender Offer① Planned Number of Shares Certificates to be Purchased: 3,000,000 shares② Planned Number of Excess Share Certificates: ‐shares③ Number of Share Certificates Tendered: 2,509,323 shares④ Number of Share Certificates Purchased: 2,509,323 shares― 13 ―