Consolidated Financial Results (Tanshin)for the Three Months Ended June 30, 2023 (Based on IFRS)
August 14, 2023
Name of listed company:CYBERDYNE, INC.
Stock code
:7779
Representative (title):President and CEO
Contact (title):CFO
Scheduled date for release of three-month report
Additional materials for the financial results
Information meeting for the financial results

Stock exchange listing
URL
Name
Name
:August 14, 2023
:None
:None

:Growth Section of TSE:https://www.cyberdyne.jp/english:Yoshiyuki Sankai:Shinji Uga
Tel. +81-29-869-9981
Scheduled start of dividend payment:－(Millions of yen: Rounded to the nearest one million yen)
Ⅰ. Consolidated financial results for the three months ended June 30, 2023 (April 1, 2023-June 30, 2023)

1. Consolidated result of operations(percentages denote year-on-year change)
Operating profit(loss)

Revenue%

Profit (loss) attributable toowners of parent%%

Profit (loss) before tax%

Apr.1-June 30, 2023

1,045

39.1

(308)

－

767

106.2

330

36.9

Apr.1-June 30, 2022

751

97.6

(178)

－

372

－

241

－

Apr.1-June 30, 2023

Basic earnings (loss)
per shareYen
1.56

Diluted earnings (loss)
per shareYen
1.56

Apr.1-June 30, 2022

1.12

1.12

2. Consolidated financial position
Total assets
Millions of yen

Ratio of equity attributable
Total equity attributable toto owners of the parent toowners of the parent
total assets
Millions of yen
Millions of yen%

Total equity

As of June 30, 2023

50,282

42,37042,513

81.3

As of March 31, 2023

50,187

41,983

42,101

83.9

Ⅱ. Dividends

End of
1st quarter(June.30)
Yen

Dividend payments for each term and the year
End of
End ofFiscal year end
2nd quarter3rd quarter(March.31)(September.30)(December.31)
Yen
Yen
Yen

Total

Yen
Fiscal year ended
0.00
0.00
0.00
－
－
March 31, 2023
Fiscal year ending－
March 31, 2024
Notes:(ⅰ) Changes from the latest released dividend forecasts: none(ⅱ) The table of “Dividends” indicates dividend payments on Common Shares. Dividends on Class Share (non-listed) for which thenumber of share units differs from Common Shares are shown below as “Dividends on Class Shares”.

Ⅲ. Forecast of consolidated financial results for the fiscal year ending March 31, 2024 (April 1, 2023-March 31, 2024)

As the business of CYBERDYNE Inc. and its group companies (collectively referred to as the “Group”) is based on a new market
with innovative technologies, there are many uncertain factors that could have an impact on its performance and make it difficult
for CYBERDYNE Inc. (the "Company") to provide a forecast with accurate figures. As such the Company will not announce theforecast of consolidated financial results.
Notes:
1. Changes in key subsidiaries during the consolidated three month period (changes in specific subsidiaries resulting inchanges of consolidation scope): none
new: － (company name: － ) ,excluded: － (company name: － )2. Changes in accounting policies, accounting estimates, and restatement of error corrections(ⅰ) Changes in accounting policies required by IFRS : yes(ⅱ) Changes in accounting policies due to reasons other than (ⅰ) : none(ⅲ) Changes in accounting estimates: none
3. Total number of issued shares (Common Shares)(ⅰ) Total number of issued shares at the end of each period (including treasury shares)
As of June 30, 2023

215,145,809 shares

As of March 31, 2023

215,145,809 shares

As of March 31, 2023

4,011,673 shares(ⅱ) Total number of treasury shares at the end of each period
As of June 30, 2023

4,014,573 shares(ⅲ) Average number of shares during each three month period
Apr.1-June 30, 2023
215,131,236 shares
Apr.1-June 30, 2022
215,134,138 shares
Note: Class B Shares are ranked the same as Common Shares and paid the same amount as Common Shares withregard to dividends of surplus and distribution of residual assets. Therefore the total number of issued shares at
each end of period and the average number of shares during each period include Class B Shares as Common
Shares.

*This quarterly consolidated financial report is not subject to the quarterly review procedure by the scope of audit.

Dividends on Class Shares
Details of dividends on the Company’s class shares for which the number of share units differs from its Common Shares are as below.
End of
1st quarter(June.30)
Yen

Dividend payments for each term and the year
End of
End ofFiscal year end
2nd quarter3rd quarter(March.31)(September.30)(December.31)
Yen
Yen
Yen

Total

Yen
Fiscal year ended
0.00
0.00
0.00
－
－
March 31, 2023
Fiscal year ending－
March 31, 2024
Note:
The Company issued Class B Shares which were accorded the same rights as its Common Shares with regard to dividends anddistribution of residual assets, but for which share units differ from Common Shares.

○ Contents of the Attached Material
1. Qualitative information regarding the settlement of accounts for the three months.……………………………………………

2(1) Explanation of operating results.……………………………………………………………………………………………

2(2) Explanation of financial position……………………………………………………………………………………………

5(3) Status of cash flow..…………………………………………………………………………………………………………

6

2. Condensed quarterly consolidated financial statement (Unaudited) …………………………………………………………
(1) Condensed quarterly consolidated statement of financial position (Unaudited)……………………………………………
(2) Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated statement ofcomprehensive income (Unaudited)...………………………………………………………………………………………

7
7
9

Condensed year to quarter end consolidated statement of profit or loss……………………………………………………

9

Condensed year to quarter end consolidated statement of comprehensive income...………………………………………

10(3) Condensed quarterly consolidated statement of changes in equity (Unaudited)……………………………………………

11(4) Condensed quarterly consolidated statement of cash flows (Unaudited)...…………………………………………………

13(5) Notes to condensed quarterly consolidated financial statements……………………………………………………………

14(Notes on premise of going concern) ………………………………………………………………………………………

14(Changes in accounting policy) .……………………………………………………………………………………………

14(Revenue) ..…………………………………………………………………………………………………………………

15

- 1 -

1. Qualitative information regarding the settlement of accounts for the three months ended June 30, 2021
(1) Explanation of operating result
All forward-looking statements included in this explanation were determined reasonable by CYBERDYNE
Inc. (the “Company”) and its group companies (collectively referred to as the “Group”) based on currently
available information for the consolidated three months ended June 30, 2023, and certain assumptions madeby the Group.

To solve various issues facing society, the Group will make full use of “Cybernics” (a new field that integrates
and combines human, robot, AI, and information systems) and handle HCPS (Human-Cyber-Physical Space)in a unified manner. Furthermore, through Cybernics, the Group promotes the realization of “Techno Peer
Support” and future development by creating the “Cybernics Industry,” a new industry that will follow the
robotics and IT industries.
Techno Peer Support Society
The Group defines “Techno Peer Support Society” as a society in which people and technology coexist andmutually support each other, enabling people to maintain and manage their health even in old age and to
exercise their long-cultivated abilities to the fullest. A society where people can maintain a high degree of
independence and lead a life with a higher degree of freedom, even if their physical condition declines due todisease, accident, aging, or disability. To realize such a society and create a new industry based on Cybernics,
the Group is developing various Cybernics Technologies that improve, regenerate, expand, and support thewearer’s physical functions.
Status of business operation<<Business operation around the medical application>>
The Group continues its efforts to disseminate Cybernic Treatment, a treatment program using Medical HAL
systems that aims to induce improvement and regeneration of the functions of the brain, nerves, and muscles

into a global standard of treatment.
(Japan)The Group continues its efforts to disseminate Cybernics Treatment, a treatment program using Medical HAL.
Post-marketing surveillance on the Medical HAL Lower Limb Type Double-leg Model suggested a highefficacy and safety towards progressive neuromuscular diseases, for which no effective treatment methods areavailable in the medical world yet. Although there was some delay in the installation of Medical HAL due tothe effects of COVID-19, as the pandemic is gradually settling down, new installation orders are increasing in
the new fiscal year, which started in April 2023.
Regarding spinal cord-related diseases, the Japanese Minister of Health, Labour, and Welfare approved

additional indications of HTLV-1-associated myelopathy (HAM) and hereditary spastic paraplegia for HAL on
October 2022. Accordingly, the Company applied for public health insurance coverage on July 2023.
Regarding traumatic spinal cord injuries, the Company is consulting with the regulators on the necessary steps
to obtain medical device approvals.
Regarding stroke, the Company discussed the clinical significance and clinical significance of theinvestigator-initiated clinical trial using the Medical HAL Lower Limb Type single-leg model (HIT2016 trial).
Considering the practice conditions surrounding acute stroke treatment and recovery rehabilitation, theCompany is considering conducting additional studies (clinical trials).
In addition, the University of Tsukuba Hospital started clinical trials to investigate the effect of HAL on
improving the physical functions of children affected by cerebral palsy in January 2022. The clinical trial is- 2 -currently in progress. The Company has also developed a small Medical HAL Lower Limb Type model
equivalent to the device used in the clinical trial for cerebral palsy. The Company submitted paperwork to
obtain approvals from the PMDA (Pharmaceuticals and Medical Devices Agency) in June 2023 for the samegroup of patients as the larger size of Medical HAL Lower Limb Type.
(USA)

As a medical service platform for individual users, RISE Healthcare Group (RHG), the Company’s subsidiary,is gradually expanding the number of facilities in Southern California. On February 2023, RISE opened its
first center in northern California. As of June 30, 2023, RHG operates 27 centers (an increase of 11 centers
since the M&A by CYBERDYNE). HAL technology of CYBERDYNE is currently available in 4 locations,and RHG is expanding its official service with HAL to more centers starting from January 2023.
(EMEA: Mainly Europe and the Middle East)
The Group continued to promote Cybernics Treatment in significant countries. For example, a center thatoffers Cybernics Treatment commenced in Türkiye. In addition, the Company exported 25 units of HAL to an
Italian Social Company, Coopselios, on May 2023.
In Germany, the G-BA (German Federal Joint Committee), the public health insurance authority, hasannounced to conduct a clinical trial for spinal cord injury based on public health insurance coverage. As ofJune 2023, related parties are preparing the trial protocol.
(APAC: Asia Pacific)
In February 2022, the Group established CYBERDYNE MALAYSIA Sdn. Bhd. in Malaysia as a businesspromotion base in APAC, and this establishment contributed to an acceleration of Cybernics Treatment inIndia, Australia, and Taiwan.
The Group continues strengthening its partnership with Malaysia’s government-affiliated Social Security
Organization (SOCSO). The collaboration resulted in increased access for Malaysian patients under the
SOCSO coverage. Construction of National Center for Neuro-Robotics and Cybernics, the largest medical
complex in Southeast Asia, is scheduled for completion by the end of 2024.

<<Business operation around applications to support caregivers and care receivers>>
The Group has developed various types of HAL for seniors to improve their physical function, prevent illness
and frailty, and reduce the requirement for care. These types include the HAL Lower Limb Type forenhancing the ability to walk; HAL Single Joint Type to train elbow, knee, and ankle movements; and HAL
Lumbar Type to train the trunk and lower limb function.
(Service at facilities for individuals)
The Group continues to offer Neuro HALFIT, a program that induces improvement of the brain-nerve andmusculoskeletal system through utilizing HAL. The program is currently available at 17 Robocare Centers
operated by business partners. The Group plans to open additional Robocare Centers.
(Neuro HALFIT at Home as a service towards individuals)
The Group offers Neuro HALFIT at Home as a contactless service to enable individuals to work out at homeusing HAL. The Group is working with home visiting service providers to promote in-person support, fromequipment setup to program implementation at home.

- 3 -<<Prevention/early detection>>
The Group is preparing for the commercialization of the Cyvis series, an ultra-small size vital sensor designed

to manage the risk of arrhythmia and atrial fibrillation and prevent myocardial infarction and stroke byaccumulating, analyzing, and AI- processing various healthcare data such as cardiac activity, brain activity,
body temperature, SpO2, and daily activities. The Company submitted a medical device approval application
for its next-generation model Cyvis 2, on April 2023.
<<Business operation around applications for the workplace and daily life>>(Well-being)
Since 2021, the Group has been working closely with Hampshire County, England, on using HAL Lumbar
Type for Well-being in care facilities. In addition, the Group will coordinate with Hampshire County to use
this as a model example to disseminate the technology in other areas of the UK and other European nations.
(Labor Support, Disinfection, and Cleaning)
Regarding the next-generation Cleaning Robot CL02, which uses cutting-edge SLAM technology to achieve
high-speed autonomous driving, the Group works with major construction companies with its ability to ride onelevators automatically and connect with cloud systems; the companies are developing this technology as asolution to make building management smarter and reduce management costs. Furthermore, the company isexpanding its mobility part as a transportation robot inside the factory.
Status of Research and Development
The Group develops “Acoustic X,” a patented photoacoustic imaging system based on the LED light source

method that realizes real-time, high-resolution 3D imaging of blood vessels and blood in the peripheral organs
without needing contrast agents. The technology is being developed as a next-generation medical image
diagnosis device. In addition, research is underway at prominent medical institutions and research facilities
overseas towards the development of various applications for this technology.
Other research projects of the Group include cloth-type HAL for people with disabilities and seniors thatmaintain and improve the wearers’ walking ability. The Group is also developing a communication robot,
which obtains vital and environmental information while communicating with users to maintain and improvetheir ADL. A personal mobility robot is also under development to help those who have difficulty walking.
In addition, Cybernics Medical Innovation Base A building in the national strategic zone of Kawasaki City,
Japan, is completed. Now the companies that the Group is working with for the development of technologies

for Cybernics Treatment such as HAL, regenerative medicine, and drug discovery are moving into the facility
in January 2023.
Numbers of operating units
As of the end of June 2023, 444 Medical HAL Lower Limb Type units were operating worldwide, including
those used for clinical research. Eighty-six of those units were used in Japanese hospitals for treatment. In
addition, there were 598 units of HAL Single Joint Type, mainly from the increase of products for medical
use. A total of 351 units of HAL for Well-being Lower Limb Type and HAL for Living Support Lower Limb

Type (older model) were in operation. Furthermore, 1,148 units of HAL Lumbar Type for Well-being were in
operation. In addition, there were 407 units of HAL Lumbar Type for Labor Support and 164 units ofCleaning Robots and Transportation Robots.

- 4 -Due to the situation mentioned above, in the consolidated three months that ended June 30, 2023, the increaseof medical service in the US and rental in the EU contributed to the revenue recorded at ¥1,045 million(39.1% increase year on year). In addition, the Group recorded a gross profit of ¥566 million (15.4% increase
year on year).
The Group recorded research and development expenses at ¥174 million (a 15.6% decrease year on year),mainly due to developing new products at the Company’s own cost, clinical research, and consigned research
projects. In addition, the Group recorded other selling, general, and administrative expenses at ¥766 million(34.8% increase year on year) due to an increase following the M&A in the previous fiscal year.
Other income was recorded at ¥67 million (31.8% increase year on year), mainly from a consigned research
project, resulting in an operating loss of ¥308 million (73.0% increase year on year).
The Group recorded a finance income of ¥369 million, mainly due to gains from the valuation difference ofinvestment securities and exchange gain. In addition, the Group recorded gains related to CEJ Fund at ¥712
million and income tax expense at ¥482 million from deferred tax expenses, resulting in the posting of profit
attributable to owners of the parent at ¥330 million (36.9% increase year on year).
The Company forms business and capital alliances with various startup companies that develop unique
technologies. The Company calculates the fair value of unlisted stocks of such companies using the IFRS 9
Financial Instruments. As a result, during the consolidated three months ended June 30, 2023, The Group

recorded ¥1,392 million in the gain on valuation difference of investments securities as finance income andgains related to CEJ Fund. Furthermore, the Group posted ¥477 million from deferred tax expense associatedwith this valuation as an income tax expense and reclassified ¥519 million to third-party interest in CEJ Fund.
As a result, the impact of calculating the fair value towards the quarterly profit was ¥396 million.
(2) Explanation of financial position① Assets
For the consolidated three months ended June 30, 2023, assets increased ¥2,095 million to ¥52,282
million compared to the end of the previous fiscal year. Changes were mainly due to a decrease of ¥48
million in other current assets, partially offset by an increase of ¥1,562 million in other financial assets(non-current) and ¥284 million in cash and cash equivalents.
② Liabilities
For the consolidated three months ended June 30, 2023, liabilities increased ¥1,708 million to ¥9,912
million compared to the end of the previous fiscal year. The changes were mainly due to a decrease of ¥60
million in trade and other payables, partially offset by an increase of ¥1,297 million in contributions to CEJ

Fund from third-party investors and ¥506 million in deferred tax liabilities.
③ Equity
For the consolidated three months ended June 30, 2023, equity increased ¥387 million to ¥42,370 million
compared to the end of the previous fiscal year. Changes were mainly due to an increase in retained earnings
following the posting of profit attributable to the owners of the parents.

- 5 -(3) Status of cashflow
For the consolidated three months ended June 30, 2023, cash and cash equivalents increased ¥284 million to¥8,086 million compared to the end of the previous fiscal year. The main influence factors for the cash flow
status within the consolidated three months ended June 30, 2023, are stated below.

(Cash flows from operating activities)
For the consolidated three months ended June 30, 2023, net cash provided by operating activities recorded an
outflow of 395 million (outflow of ¥67 million in the consolidated three months of the previous fiscal year).
Changes were mainly due to profit before tax posted at ¥767 million, depreciation and amortization recorded at¥160 million, partially offset by a gain related to CEJ Fund recorded at ¥712 million and finance income

recorded at ¥369 million.
(Cash flows from investment activities)
For the consolidated three months ended June 30, 2023, net cash provided by investing activities recorded an
outflow of ¥30 million (an inflow of ¥194 million in the consolidated three months of the previous fiscal year).
The changes were mainly due to the proceeds of redemption of investments posted at ¥5,000 million, proceedsfrom the sale of investment securities posted at ¥465 million, partially offset by the purchase of investment
posted at ¥5,000 million, purchase of investment securities posted at ¥450 million, and purchase of property,
plant, and equipment posted at ¥40 million.
(Cash flows from financing activities)
For the consolidated three months ended June 30, 2023, net cash used in financing activities recorded an

inflow of ¥639 million (an inflow of ¥649 million in the consolidated three months of the previous fiscal year).
The changes were mainly due to the inflow of ¥680 million from contributions to CEJ Fund from third-party
investors.

- 6 -2. Condensed quarterly consolidated financial statement(1) Condensed quarterly consolidated statement of financial position (Unaudited)
As of March 31, 2023

As of June 30, 2023

Millions of yen

Millions of yen

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables

7,801
540

8,086
611

Other financial assets

9,507

9,507

Inventories

991

1,054

Other current assets

308

259

Total current assets

19,147

19,518Operating lease assets
Property, plant and equipment
Right of use assets
Goodwill
Intangible assets

430
13,406
546
2,531
80

400
13,378
545
2,694
76

Investments accounted for using equity method
Other financial assets

240
13,641240
15,203

Other non-current assets

166

229

Total non-current assets

31,04032,76450,18752,282

Non-current assets

Total assets- 7 -As of March 31, 2023

As of June 30, 2023

Millions of yen

Millions of yen

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables
Bonds and borrowings

690
89

630
93

Lease liabilities

147

154

Other current liabilities
Total current liabilities

365

320

1,291

1,197

Non-current liabilities
Bonds and borrowings

21

26

Third-party interests in CEJ Fund
Lease liabilities

4,792
412

6,089
407

Provisions
Deferred tax liabilities

96
1,577

96
2,083

Other non-current liabilities

14

14

Total non-current liabilities

6,913

8,715

8,204

9,912

10

10

Capital surplus
Treasury shares
Other components of equity
Retained earnings

42,877(1,188)
(979)
1,381

42,806(1,188)
(826)
1,712

Total equity attributable to owners of the parent

42,101

42,513

Non-controlling interests
Total equity

(118)

(143)

41,98342,370Total liabilities and equity

50,18752,282

Total liabilities
EquityShare capital- 8 -(2) Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated statement of comprehensive
income (Unaudited)
Condensed year to quarter end consolidated statement of profit or loss
Three months ended
June 30, 2022

Three months ended
June 30, 2023

Millions of yen
Revenue

751

Millions of yen
1,045

Cost of sales

(261)

(480)

Gross profit

490

566

Research and development expenses
Other selling, general and administrative expenses

(151)
(568)

(174)
(766)

Total selling, general and administrative expenses
Other income

(719)
51

(941)
67

Other expenses

(0)

(1)

(178)
545

(308)
369

(3)
14

(6)
712

(6)

0

Income tax expense

372
(140)

767
(482)

Profit (loss)

232

285

Profit (loss) attributable to
Owners of parent

241

330

Selling, general and administrative expenses

Operating profit (loss)
Finance income
Finance costs
Gains related to CEJ Fund
Share of profit (loss) of investments accounted for using equity
methodProfit (loss) before tax

Non-controlling interests

(9)

(45)

Profit (loss)

232

285

Basic earnings (loss) per share (yen)

1.12

1.56

Diluted earnings (loss) per share (yen)

1.12

1.56

Earnings (loss) per share- 9 -Condensed year to quarter end consolidated statement of comprehensive income

Profit (loss)

Three months ended
June 30, 2022

Three months ended
June 30, 2023

Millions of yen

Millions of yen
232

285

Financial assets measured at fair value through othercomprehensive income

(21)

(14)

Total of items that will not be reclassified to profit or loss

(21)

(14)

Exchange differences on translation of foreign operations

175

155

Total of items that may be reclassified to profit or loss

175

155

154

141

386

427

Owners of parent
Non-controlling interests

392
(6)

483
(56)

Comprehensive income

386

427

Other comprehensive income
Items that will not be reclassified to profit or loss

Items that may be reclassified to profit or loss

Total other comprehensive income, net of tax
Comprehensive income
Comprehensive income attributable to- 10 -

(3) Condensed quarterly consolidated statement of changes in equity (Unaudited)Three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)
Equity attributable to owners of parent
Other components of equity

Share capital

Capital surplus

Treasury shares

Millions of yen

Millions of yen

Millions of yen

Financialassetsmeasured atfair value
through othercomprehensive
incomeMillions of yen

Millions of yen

Millions of yen

10

42,869(0)(1,306)

142

19

－
－

－
－

－
－

－
(21)

－
172

－
－

Total comprehensive income

－

－

－

(21)

172

－

Share-based payment transactions

－

2

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

2

－

－

－

－

10

42,871(0)(1,327)314

19

Non-controllinginterests

Total equity

April 1, 2022
Profit (loss)
Other comprehensive income

Equity transaction with non-controllinginterest
Other
Total transactions with owners
June 30, 2022

Exchangedifferences ontranslation offoreign
operations

StockacquisitionrightsEquity attributable to owners of parent
Other
components ofequityRetainedearnings

Total

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen(1,145)

1,679
241

38
(9)
3

43,450
232
154

Total
April 1, 2022
Profit (loss)
Other comprehensive income－

43,413
241
151

Total comprehensive income

151

241

392

(6)

386

Share-based payment transactions

－

－

2

－

2

－

－

－

4

4

－

－

－

2

2

－

－

2

6

8

(994)

1,920

43,80737

43,844Equity transaction with non-controllinginterest
Other
Total transactions with owners
June 30, 2022－
151

- 11 -

Three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)
Equity attributable to owners of parent
Other components of equity

Share capital

Capital surplus

Treasury shares

Millions of yen

Millions of yen

Millions of yen

Financialassetsmeasured atfair value
through othercomprehensive
incomeMillions of yen

Millions of yen

Millions of yen

10

42,877(1,188)(1,270)

272

19

－
－

－
－

－
－

－
(14)

－
166

－
－

Total comprehensive income

－

－

－

(14)

166

－

Share-based payment transactions

－

2

－

－

－

－

－

(73)

－

－

－

－

April 1, 2023
Profit (loss)
Other comprehensive income

Equity transaction with non-controllinginterest
Other
Total transactions with owners
June 30, 2023

Exchangedifferences ontranslation offoreign
operations

Stockacquisitionrights

－

－

－

－

－

－

－

(71)

－

－

－

－

10

42,806(1,188)(1,284)438

19

Non-controllinginterests

Total equity

Equity attributable to owners of parent
Other
components ofequityRetainedearnings

Total

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

(979)

1,381
330

(118)
(45)
(11)

41,983
285
141

Total
April 1, 2023
Profit (loss)
Other comprehensive income－

42,101330
152

Total comprehensive income

152

330

483

(56)

427

Share-based payment transactions

－

－

2

－

2

－

－

(73)

31

(42)

－

－

－

－

－

－

－

(71)

31

(40)

(826)

1,712

42,513(143)

42,370Equity transaction with non-controllinginterest
Other
Total transactions with owners
June 30, 2023－
152

- 12 -

(4) Condensed quarterly consolidated statement of cash flows (Unaudited)

Cash flows from operating activities
Profit (loss) before tax
Depreciation and amortization

Three months ended
June 30, 2022

Three months ended
June 30, 2023

Millions of yen

Millions of yen
372
151

767
160

(545)
3
(14)

(369)
6
(712)

6

(0)

Decrease (increase) in inventories
Decrease (increase) in trade and other receivables

(29)
60

(64)
(71)

Increase (decrease) in trade and other payables

(41)

(60)

Other

(35)

(64)

(72)

(406)

Interest received
Interest paid

5
(0)

11
(0)

Net cash provided by (used in) operating activities

(67)

(395)

Purchase of investments(3,000)(5,000)

Proceeds form redemption of investments
Proceeds form withdrawal of time deposits
Purchase of property, plant and equipment

4,000
1,000
(97)

5,000

Purchase of intangible assets－(1,643)Finance income
Finance costs
Loss (gains) on CEJ Fund
Share of loss (profit) of investments accounted for using equity
methodSubtotal

Cash flows from investing activities

Purchase of investment securities
Proceeds from sale of investment securities
Payments for loans receivable

－
(66)

－
(40)
(8)
(450)
465
(1)

Collection of loans receivable

1

3

Other

(0)

(0)

Net cash provided by (used in) investing activities

194

(30)

Repayments of long-term borrowings
Repayments of lease obligation

(3)
(31)

(3)
(42)

Contributions into CEJ Fund from third-party investors
Other

680
3

680
4

Net cash provided by (used in) financing activities

649
99

639
70

Cash and cash equivalents at beginning of fiscal year

876
5,677

284
7,801

Cash and cash equivalents at end of year

6,554

8,086

Cash flows from financing activities

Effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents- 13 -

(5) Notes to condensed quarterly consolidated financial statements(Notes on premise of going concern)
There are no items to report.

(Changes in accounting policy)
Significant accounting policies applied to the condensed consolidated financial statements for the consolidated three months
ended June 30, 2023 are the same as those applied to the consolidated financial statements for the fiscal year ended March 31,
2023, with the following exceptions.
The income tax expense for the consolidated three months ended June 30, 2023 has been calculated based on the estimatedannual effective income tax rate.

IFRSs
IAS 12

Income Taxes

Nature of the new standards amendments
Revised clarification of deferred tax accounting for leases anddecommissioning obligations

The effect of applying these accounting standards on the Group’s condensed consolidated financial statements is not material.

- 14 -

(Revenue)
Disaggregation of revenue
Details of disaggregation of revenue are set forth below.
Three months ended
June 30, 2022

Three months ended
June 30, 2023

Millions of yen

Millions of yen

Timing of revenue recognition
Service transferred over time
Asset transferred at a point of time

406
42

590
31

Service transferred at a point of time

304

425

751

1,045

Total

(Note) Since the Group operates under a single segment of business, segment information on revenue is omitted.
Service transferred over time
Service transferred over time includes rental income based on the individual rental contract and maintenance income
based on the maintenance contract in relation to finance lease income where the Group acts as a lessor of right-of-use
asset.
The Group recognizes rental income as income generated throughout the rental period after the customer acceptanceof the relevant product, by either of the following method. Pay-per-use model based on times of product usage in therelevant month and base fee model based on fixed monthly price.
The Group recognizes maintenance income as performance obligation satisfied over time. The Company records thisrevenue during this contract period based on average amount during the period.
Asset transferred at a point of time
Asset transferred at a point of time includes revenue from sales of commodities and products based on sales contract.
The Group mainly determines that performance obligation of sales of commodities as well as products are satisfied at the
point of customer acceptance the relevant product. The Group receives most of the payment within one month from thepoint of satisfying the performance obligation. With regards to transaction price, there is no significance in the amount ofsales revenue that includes variable consideration. Furthermore, there are no significant financial components in theamount of promised consideration.
Furthermore, if the Group acts as a lessor of right-of-use of its devices such as HAL, the Group classifies the relevant
lease as finance lease. Finance lease income is processed in the same way as cases where the Group acts as a lessor of
manufacturer or distributor of sales of goods. The Group determines that performance obligation is satisfied at the pointof customer acceptance and the revenue is recognized at a point of time.
Service transferred at a point of time
Service transferred at a point of time includes revenue from offering Cybernics Treatment and training service at
Cybernic Treatment Center and Robocare Centers, to end users (such as patients). It also includes revenue received inreturn of providing outcomes of consigned research projects.
The Group determines that performance obligation of Cybernics Treatment as well as training services are satisfied at
the point of completion of such services. The Group determines that performance obligation of providing outcomes ofconsigned research projects are satisfied at the point when the customer inspects and accepts the outcome.

- 15 -