Consolidated Financial Results (Tanshin)for the Six Months Ended September 30, 2022 (Based on IFRS)
November 14, 2022
Name of listed company:CYBERDYNE, INC.
Stock code
:7779
Representative (title):President and CEO
Contact (title):Director and CFO
Scheduled date for release of six-month report
Additional materials for the financial results
Information meeting for the financial results

Stock exchange listing:Mothers Section of TSE
URL:https://www.cyberdyne.jp/english
Name:Yoshiyuki Sankai
Name:Shinji Uga
Tel. +81-29-869-9981:November 14, 2022
Scheduled start of dividend payment:－:yes:yes (only for institutional investors)(Millions of yen: Rounded to the nearest one million yen)

Ⅰ. Consolidated financial results for the six months ended September 30, 2022 (April 1, 2022-Semtember 30, 2022)

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-Sep. 30, 2022

1,542

86.9

(442)

－

373

－

268

－

Apr.1-Sep. 30, 2021

825

3.9

(481)

－

(389)

－

(428)

－

Apr.1-Sep. 30, 2022

Basic earnings (loss)
per shareYen
1.25

Diluted earnings (loss)
per shareYen
1.25

Apr.1-Sep. 30, 2021

(1.99)(1.99)

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 Sep. 30, 2022

51,40743,92943,906

85.4

As of March 31, 2022

49,46743,45043,413

87.8

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, 2022
Fiscal year ending
0.00－
March 31, 2023
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, 2023 (April 1, 2022-March 31, 2023)

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 : none(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 September 30, 2022

215,145,809 shares

As of March 31, 2022

215,145,809 shares

As of March 31, 2022

11,671 shares(ⅱ) Total number of treasury shares at the end of each period
As of September 30, 2022

11,672 shares(ⅲ) Average number of shares during each three month period
Apr.1-September 30, 2022
215,134,138 shares
Apr.1-September 30, 2021
215,135,581 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, 2022
Fiscal year ending
0.00－
March 31, 2023
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 settlement of accounts for the six months.…………………………………………………

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

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

6(3) Status of cash flow..…………………………………………………………………………………………………………

6

2. Condensed quarterly consolidated financial statement (Unaudited) ……………………………………………………………

7(1) Condensed quarterly consolidated statement of financial position (Unaudited)……………………………………………

7(2) Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated statement ofcomprehensive income (Unaudited)...………………………………………………………………………………………..

9

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

9

Condensed quarter period consolidated statement of profit or loss…………………………………………………………

10

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

11(3) Condensed quarterly consolidated statement of changes in equity (Unaudited)……………………………………………

12(4) Condensed quarterly consolidated statement of cash flows (Unaudited)...…………………………………………………

14(5) Notes to condensed quarterly consolidated financial statements……………………………………………………………

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

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

15(Revenue) ..…………………………………………………………………………………………………………………

16

- 1 -

1. Qualitative information regarding settlement of accounts for the six months ended September 30, 2022
(1) Explanation of operating results
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 six months ended September 30, 2022, and certain assumptions
made by the Group.
The Group aims to transform society and industry by creating a Cybernics Industry. This new industry will
follow the robotics and IT industries by realizing a "Techno-peer Support Society" where human andtechnology works together and supports each other by innovation that leaves no one behind. To be precise, theGroup will make full use of Cybernics (fusion of Human, Robots, AI, and Information Systems), a new fieldthat integrates "Human" and "Cyber/Physical Space.
Healthy Future Society using Cybernics
The Group is developing various Cybernics Technologies that accumulate, analyze, and AI processes Human
Big Data (human-related physiological, psychological, lifestyle, behavioral, and environmental information)with its IoH/IoT (Internet of Humans and Things) system. The technology can also improve, regenerate,
expand, and support the wearer’s physical functions. Furthermore, the Group equips communication functions
to all Cybernics Technologies. They are seamlessly connected to hospitals, nursing homes, homes, andworkplaces through IoH/IoT by linking data and services via cloud systems. Using Cybernics Technologies,
the Group will challenge cultivating a "healthy future society" where people can participate in society with ahigh level of independence and health, even if they experience multiple disuses, disease, or disability. The
Group will promote Society 5.0/5.1 as a healthy and sustainable society through this challenge.
Status of business operation<<Business operation around the medical application>>
The Group continues its efforts to establish 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 establish 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. Post-marketing surveillance on the Medical HAL Lower Limb TypeDouble-leg Model suggested a high efficacy and safety towards progressive neuromuscular diseases. As aresult of the proposal, the revision of insurance pricing for 2022 allows hospitals that use the DPC system(80% of base hospitals treating intractable diseases in Japan) to calculate insurance for treatment with HAL for
hospitalized patients. Also, insurance reimbursement pricing associated with the treatment was increased,encouraging the Group to spread the technology in the country. The Group will also utilize the result of postmarketing surveillance to list Cybernics Treatment for insurance worldwide to establish this new treatment
technology as a global standard for progressive neuromuscular disease, as there were no effective treatment

methods globally for these diseases before HAL.
On October 27, 2022, the additional indications of HTLV-1 associated myelopathy (HAM) and hereditary
spastic paraplegia were approved by the Japanese Minister of Health Labour and Welfare in addition to theeight progressive neuromuscular diseases that is already treated. The Company will proceed with theprocedures related to reimbursement insurance coverage.
Furthermore, regarding the investigator-initiated clinical trial for stroke patients in Japan, the primary- 2 -endpoints' clinical significance and statistical significance, which are considered the most crucial evaluation
points of this clinical trial, are being discussed with the authorities and investigators, and statistical experts.

The Group also considers the result as compelling data for medical insurance for stroke worldwide.
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 on January 2022. The trial is currently
in progress.
(USA)
RISE Healthcare Group (RHG), the Company’s subsidiary offering medical service, is further expanding fromits current 21 locations (an increase of 5 locations since the beginning of the year) and is conducting trials ofcombined services with the innovative medical HAL technology of CYBERDYNE. The site of the trial has
expanded to 4 facilities covering Los Angeles in addition to San Diego from September 2022.

(EMEA: Mainly Europe and the Middle East)
Following the previous year, the Group is promoting Cybernics Treatment in major countries. The treatment
started in Turkey this fiscal year. In Germany, the G-BA (German Federal Joint Committee), the public healthinsurance authority, has decided to conduct a clinical trial for spinal cord injury based on public healthinsurance coverage and is preparing the protocol framework.
(APAC: Asia Pacific)
In February 2022, the Group established CYBERDYNE MALAYSIA Sdn. Bhd. in Malaysia as a businesspromotion base in APAC to further accelerate the spread of Cybernics Treatment.

In Malaysia, Cybernics Treatment continues to expand through the public social security coverage provided
by the government- affiliated Social Security Organization (SOCSO). As of end of September 2022, there
were 98 units rented to 10 facilities in Malaysia. In June 2022, SOCSO announced the construction of the
National Center for Neuro-Robotics and Cybernics, the largest medical complex in Southeast Asia, which isscheduled for completion by the end of 2024. Cybernics Treatment has also started at Singapore General
Hospital, the country's largest general hospital.

<<Business operation around applications to support caregivers and carereceivers>>
The Group has developed various types of HAL to improve older adults’ need for nursing care, preventing
their illness, preventing frailty, and maintaining their independence from care. For example, HAL Lower
Limb Type for improving ambulatory functions; HAL Single Joint Type to train elbow, knee, and ankle
movements; and HAL Lumbar Type for inducing improvement of the trunk and lower limb function. Based on
the positive results of a pilot study of a care prevention program utilizing the HAL Lumbar Type for theelderly in 2019, Kanagawa Prefecture will proceed with a randomized controlled trial starting in 2020. In

October 2022, the Company started joint research with Kanagawa Prefecture, Kanagawa University of Healthand Welfare, and Keio University to implement the program in nursing care settings. Ina City in Nagano
Prefecture has also started a health promotion project to improve the health and quality of life (QOL) of
elderly people in the community by improving their physical functions and motivation. The Company willcontinue to promote cooperation with local governments.
(Service at facilities for individuals)
The Group continues to offer Neuro HALFIT, a program that induces improvement of the brain-nerve andmusculoskeletal system through utilization of HAL. The program is currently available at 18 Robocare
Centers operated by business partners. The Group plans to open additional Robocare Centers.

- 3 -(Neuro HALFIT at Home as a service towards individuals)
The Group offers Neuro HALFIT at Home to enable individuals to work out at home using HAL. By
connecting HAL with Cyberdyne Cloud, users can see their bio-electrical signals, postures, and many more on
the connected tablets. In addition, the tablet monitor allows users to obtain visual feedback on their training
and receive feedback from their therapists and trainers remotely. The Group also work with home visiting

providers to promote in-person support, from equipment setup to program implementation at home.
<<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. Furthermore, Cyvis will also be equipped with an optionalfeature to measure breathing conditions during sleep, enabling easy and precise screening for the risk of SAS(Sleep Apnea Syndrome). In addition, in August 2021, the Group added C2 into a consolidated subsidiary, acompany that develops and operates the "Sound Sleep Alarm" healthcare application that visualizes sleep, tostrengthen the Group's healthcare business. The Group applied for Cyvis-1 in April 2022 to register it as a
medical device and started trial marketing of the product to users in May 2022.

<<Business operation around applications for workplace and daily life>>(Well-being)
The Group started to export HAL Lumbar Type for Well-being to care facilities in Hampshire County, UK, in
October 2021. The Group will coordinate with Hampshire County to use this as a model example todisseminate the technology in other areas of the UK and other European nations.
(Labor Support)
HAL Lumbar Type for Labor Support with dustproof and waterproof features is introduced to large users suchas the construction industry, where the workload is especially demanding. In addition, the Group is working todevelop a practical application for production management that integrates labor management and work
efficiency by visualizing workers’ workload and physical condition.
(Disinfection / Cleaning)
Next-generation Cleaning Robot CL02 uses the cutting-edge SLAM technology to achieve high-speed
autonomous driving is being introduced in office buildings and large commercial facilities to make buildings
smarter and reduce management costs by automatically elevating and lowering elevators and linking to cloudcomputing.
Status of Research and Development

The "Acoustic X" is a photoacoustic imaging system based on the LED light source method (patented by ourcompany) that realizes real-time, high-resolution 3D imaging of blood vessels and blood in the peripheralorgans without the need for contrast media. The "Acoustic X" photoacoustic imaging system is undergoing
research and development under the "Medical Innovation Promotion Project (Development andCommercialization Project)" of the Japan Agency for Medical Research and Development (AMED). In
addition, research is underway at prominent medical institutions and research facilities overseas for various
applications.
Furthermore, the Group is developing a cloth-type HAL to maintain and improve ambulatory functions, acommunication robot to preserve and enhance activities of daily living with its conversation functions while- 4 -acquiring vital and environmental information, and a personal mobility robot for users who have difficulty
walking.

In addition, the construction of the Cybernics Medical Innovation Base A building, which will promote biorelated research such as regenerative medicine and drug discovery in addition to clinical research on HAL andother products, was completed in March 2022. The Group is now conducting additional interior work, and thebuilding is scheduled to be operational by the end of this fiscal year. The companies will start occupancy to
the facility from January 2023.
Numbers of operating units
As of the end of September 2022, 384 units of Medical HAL Lower Limb Type were operating worldwide,
including those used for clinical research. Out of the number mentioned above, 86 were rented out in Japan fortreatment. 542 units of HAL Single Joint Type were in operation, mainly from the increase of medical
products. There was a total of 346 units of HAL for Well-being Lower Limb Type and HAL for Living
Support Lower Limb Type (older model) put together in operation as of the end of September 2022. 1,179
units of HAL Lumbar Type for Well-being and HAL Lumbar Type for Care Support put together were in
operation. As of the end of September 2022, 419 units of HAL Lumbar Type for Labor Support were in

operation. 154 units of Cleaning Robot, as well as Transportation Robot, were in operation.
In the consolidated six months ended September 30, 2022, the medical service in the US and significant
increase of rental in Asia and Europe contributed to the revenue recorded at ¥1,542 million (86.9% increase
year on year). In addition, the Group recorded gross profit at ¥989 million (59.8% increase year on year).
Research and development expenses were recorded at ¥333 million (4.9% decrease year on year), mainly due
to the development of new products at the Company’s own cost, clinical resaerch and consigned research
projects. In addition, the Group recorded other selling, general and administrative expenses at ¥1,162 million(48.7% increase year on year) due to an increase following the M&A in the previous fiscal year.
Other income was recorded at ¥65 million (103.7% increase year on year), mainly from exchange
differences on translation of foreign operations and a consigned research project, resulting in an operating lossof ¥442 million (8.1% decrease year on year).
Finance income was recorded at ¥681 million, mainly due to gain from valuation difference of investment
securities and translation of foreign operations. The Group recorded gains related to CEJ Fund at ¥154 million
and income tax expense at ¥135 million from deferred tax expenses, resulting in the posting of profit
attributable to owners of the parent at ¥268 million (loss of ¥428 million in the Q1 of the previous fiscal 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, the gain on valuation difference of investments securities ¥750 million wasrecorded as finance income. Furthermore, as the Group recorded deferred tax expense associated with thisvaluation of ¥134 million as an income tax expense and ¥105 million as third-party interest in CEJ Fund, theimpact of calculation of the fair value towards the quarterly profit was ¥511 million.

- 5 -(2) Explanation of financial position① Assets
For the consolidated six months ended September 30, 2022, assets increased ¥1,941 million to ¥51,407
million compared to the end of the previous fiscal year. Changes were mainly due to an decrease of¥1,941 million in other financial assets (current), partially offset by a increase of ¥3,182 million in otherfinancial assets (non-current) and ¥708 million in cash and cash equivalents.
② Liabilities
For the consolidated six months ended September 30, 2022, liabilities increased ¥1,461 million to ¥7,477
million compared to the end of the previous fiscal year. The changes were mainly due to an decrease of ¥76
million in trade and other payables, partially offset by a increase of ¥1,354 million in contributions into CEJ
Fund from third-party investors and ¥130 million in deferred tax liabilities.
③ Equity
For the consolidated six months ended September 30, 2022, equity decreased ¥480 million to ¥43,929
million compared to the end of the previous fiscal year. Changes were mainly due to a increase of retained
earnings resulting from the recording of a profit attributable to owners of the parent.
(3) Status of cashflow
For the consolidated six months ended September 30, 2022, cash and cash equivalents increased ¥708 million
to ¥6,385 million compared to the end of the previous fiscal year. The main influence factors for the cash flow
status within the consolidated six months ended September 30, 2022, are stated below.

(Cash flows from operating activities)
For the consolidated six months ended September 30, 2022, net cash provided by operating activities recorded
an inflow of 83 million (outflow of ¥151 million in the previous fiscal year). Changes were mainly due to an
finance income recorded at ¥681 million, partially offset by profit before tax recorded at ¥373 million,
depreciation and amortization posted at ¥292 million.

(Cash flows from investment activities)
For the consolidated six months ended September 30, 2022, net cash provided by investing activities recorded
an outflow of ¥845 million (outflow of ¥1,649 million in the previous fiscal year). The changes were mainly
due to proceeds of redemption of investment posted at ¥12,500 million, proceeds from withdrawal of time
deposits posted at ¥2,500 million, partially offset by the payment of ¥11,000 million from the purchase ofinvestments, and ¥3,009 million from the purchase of investment securities.
(Cash flows from financing activities)
For the consolidated six months ended September 30, 2022, net cash used in financing activities recorded an
inflow of ¥1,311 million (inflow of ¥605 million in the previous fiscal year). The changes were mainly due tothe inflow of ¥1,380 million from contributions into 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, 2022

As of September 30, 2022

Millions of yen

Millions of yen

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables

5,677
493

6,385
443

Other financial assets

15,151

13,210Inventories

1,089

1,071

Other current assets

455

225

Total current assets

22,865

21,334

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

430
13,416
499
2,070
76

417
13,424
534
2,344
59

Investments accounted for using equity method
Other financial assets

435
9,571

421
12,753

Other non-current assets

105

119

Total non-current assets

26,60230,07349,46751,407

Non-current assets

Total assets- 7 -As of March 31, 2022

As of September 30, 2022

Millions of yen

Millions of yen

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

418
34

342
34

Lease liabilities

118

142

Other current liabilities
Total current liabilities

259

274

828

791

Non-current liabilities
Bonds and borrowings

34

27

Third-party interests in CEJ Fund
Lease liabilities

3,629
389

4,983
410

Provisions
Deferred tax liabilities

96
1,040

96
1,170

Total non-current liabilities

5,189

6,686

Total liabilities

6,017

7,477

EquityShare capital
Capital surplus

1042,8691042,873(0)(1,145)
1,679

(0)
(923)
1,947

43,41343,90638

23

43,45043,92949,46751,407

Treasury shares
Other components of equity
Retained earnings
Total equity attributable to owners of the parent
Non-controlling interests
Total equity
Total liabilities and equity- 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
Six months ended
September 30, 2021

Six months ended
September 30, 2022

Millions of yen
Revenue

825Millions of yen
1,542

Cost of sales

(206)

(553)

Gross profit

619

989

Research and development expenses
Other selling, general and administrative expenses

(350)
(781)

(333)
(1,162)

Total selling, general and administrative expenses
Other income(1,131)32(1,495)65

Other expenses

(1)

(1)

(481)
27

(442)
681

(1)
82

(6)
154

(16)

(14)

Income tax expense

(389)
(50)

373
(135)

Profit (loss)

(440)

239

Profit (loss) attributable to
Owners of parent

(428)

268

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

(12)

(29)

Profit (loss)

(440)

239

Basic earnings (loss) per share (yen)(1.99)

1.25

Diluted earnings (loss) per share (yen)(1.99)

1.25

Earnings (loss) per share- 9 -Condensed quarter period consolidated statement of profit or loss
Three months ended
September 30, 2021

Three months ended
September 30, 2022

Millions of yen

Millions of yen

Revenue
Cost of sales

445
(103)

791
(292)

Gross profit

342

499

Selling, general and administrative expenses
Research and development expenses

(162)

(182)

Other selling, general and administrative expenses

(390)

(594)

Total selling, general and administrative expenses

(552)

(775)

13
(1)

14
(1)

(198)
22
(1)

(264)
136
(3)

59

140

(6)

(8)

Income tax expense

(124)
(33)

1
5

Profit (loss)

(157)

6

Profit (loss) attributable to
Owners of parent
Non-controlling interests

(152)
(6)

27
(20)

(157)

6

(0.70)

0.12(0.70)

0.12

Other income
Other 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

Profit (loss)
Earnings (loss) per share
Basic earnings (loss) per share (yen)Diluted earnings (loss) per share (yen)- 10 -

Condensed year to quarter end consolidated statement of comprehensive income

Profit (loss)

Six months ended
September 30, 2021

Six months ended
September 30, 2022

Millions of yen

Millions of yen
(440)

239

Financial assets measured at fair value through othercomprehensive income

(21)

(48)

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

(21)

(48)

Exchange differences on translation of foreign operations

20

274

Total of items that may be reclassified to profit or loss

20

274

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

(1)

225

(441)

464

Owners of parent
Non-controlling interests

(429)
(12)

490
(26)

Comprehensive income

(441)

464

Comprehensive income
Comprehensive income attributable to- 11 -

(3) Condensed quarterly consolidated statement of changes in equity (Unaudited)
Six months ended September 30, 2021 (from April 1, 2021 to September 30, 2021)
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

42,861(0)(1,286)

(6)

19

－
－

－
－

－
－

－
(21)

－
20

－
－

April 1, 2021
Profit (loss)
Other comprehensive income

Exchangedifferences ontranslation offoreign
operations

StockacquisitionrightsTotal comprehensive income

－

－

－

(21)

20

－

Share-based payment transactions

－

4

－

－

－

－

Equity transaction non-controlling

－

－

－

－

－

－

Total transactions with owners

－

4

－

－

－

－

10

42,865(0)(1,306)14

19

Non-controllinginterests

Total equity

September 30, 2021

Equity attributable to owners of parent
Other
components ofequityRetainedearnings

Total

Total

－

Millions of yen
43,776
(428)
(1)

－

Millions of yen
43,786(440)(1)

Total comprehensive income

(1)

(428)

(429)

(12)

(441)

Share-based payment transactions

－

－

4

4

Equity transaction non-controlling

－

－

－

－
4

Total transactions with owners

－

－

4

4

8

(1,273)

1,749

43,351

3

43,354

April 1, 2021
Profit (loss)
Other comprehensive income

September 30, 2021

Millions of yen(1,272)－(1)Millions of yen
2,177
(428)

- 12 -

Millions of yen
10
(12)

4

Six months ended September 30, 2022 (from April 1, 2022 to September 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

－
－

－
－

－
－

－
(48)

－
270

－
－

April 1, 2022
Profit (loss)
Other comprehensive income

Exchangedifferences ontranslation offoreign
operations

StockacquisitionrightsTotal comprehensive income

－

－

－

(48)

270

－

Acquisition of treasury shares

－

(0)

－

－

－

Share-based payment transactions

－

－
4

－

－

－

－

Equity transaction non-controlling interest

－

－

－

－

－

－

Other

－

－

－

－

－

－

－

4

(0)

－

－

－

10

42,873(0)(1,354)412

19

Non-controllinginterests

Total equity

Total transactions with owners
September 30, 2022

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(1,145)

1,679
268

43,413
268

38
(29)

43,450239

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

－
222

－

222

4

225

Total comprehensive income

222

268

490

(26)

464

Acquisition of treasury shares

－
－
－
－

－
－
－
－

(0)
4
－
－

－
－
9
2

(0)
4
9
2

Share-based payment transactions
Equity transaction non-controlling interest
Other
Total transactions with owners
September 30, 2022

－

－

4

11

15

(923)

1,947

43,90623

43,929- 13 -

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

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

Six months ended
September 30, 2021

Six months ended
September 30, 2022

Millions of yen

Millions of yen
(389)
233

373
292

Finance income
Finance costs
Loss (gains) on CEJ Fund

(27)
1
(82)

(681)
6
(154)

Share of loss (profit) of investments accounted for using equity
method16

14

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

(182)
129

17
50

Increase (decrease) in trade and other payables

74

(76)

Other
SubtotalInterest received
Interest paid
Income taxes refund
Net cash provided by (used in) operating activities

19

230

(209)

71

6
(1)
53

9
(0)
2

(151)

83

(8,999)11,000(1,000)(11,000)
12,500(2,000)Cash flows from investing activities
Purchase of investments
Proceeds of redemption of investments
Payment into time deposit
Proceeds from withdrawal of time deposits

－

2,500

Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities

(810)
(3)
(1,250)(197)(3,009)Proceeds from sale of investment securities

－

428

(561)

－

－

(67)
1

Purchase of stock of subsidiaries with change of scope of
consolidation
Payments for loans receivableCollection of loans receivable

－

Other

－

(26)

(0)

(1,649)(845)

Repayments of long-term borrowings
Repayments of lease obligation

(41)
(33)

(6)
(63)

Net cash provided by (used in) investing activities
Cash flows from financing activities

Contributions into CEJ Fund from third-party investors

680

1,380

Other

(1)

(1)

Net cash provided by (used in) financing activities

605

1,311

35

159

Effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents(1,160)708

Cash and cash equivalents at beginning of fiscal year

6,704

5,677

Cash and cash equivalents at end of year

5,544

6,385

- 14 -

(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 six months ended
September 30, 2022 are the same as those applied to the consolidated financial statements for the fiscal year ended March 31,
2022
The income tax expense for the consolidated six months ended September 30, 2022 has been calculated based on the estimatedannual effective income tax rate.

- 15 -

(Revenue)
Disaggregation of revenue
Details of disaggregation of revenue are set forth below.
Six months ended
September 30, 2021

Six months ended
September 30, 2022

Millions of yen

Millions of yen

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

672
34

820
83

Service transferred at a point of time

119

639

825

1,542

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, maintenance income basedon the maintenance contract concerning finance lease income where the Group acts as a lessor of right-of-use asset andsubscription fees from the provision and operation of smartphone applications.
The Group recognizes rental income as income generated throughout the rental period after the customer accepts therelevant product by either of the following methods. Pay-per-use model based on times of product usage in theapplicable month or base fee model based on the fixed monthly price.
The Group recognizes maintenance income as a performance obligation satisfied over time. Accordingly, theCompany records this revenue during this contract period based on the average amount during the period.
The Group recognizes subscription fees for the provision and operation of smartphone applications as service provided
through an application over time. The Company records this revenue over time.
Asset transferred at a point of time
The asset transferred at a point of time includes revenue from sales of commodities and products based on the sales
contract. The Group mainly determines that performance obligation of sales of commodities and products are satisfied at
the point of customer acceptance of the relevant product. Therefore, the Group receives most of the payment within one
month from the point of fulfilling the performance obligation. Regarding transaction price, there is no significance in theamount of sales revenue that includes variable consideration. Furthermore, there are no significant financial components
in the amount 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 a 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 Cybernic Treatment and training service at
Cybernic Treatment Center and Robocare Centers to end-users (such as patients). In addition, the Company also includes
revenue received in return for providing outcomes of consigned research projects in this category.
The Group determines that the performance obligation of Cybernic Treatment and training services are satisfied at the
point of completion of such services. Furthermore, the Group determines that the performance obligation of providing
outcomes of consigned research projects is satisfied when the customer inspects and accepts the work.

- 16 -