Consolidated Financial Results (Tanshin)for the Fiscal Year Ended March 31, 2023 (Based on IFRS)

May 15, 2023
Name of listed company: CYBERDYNE Inc.

Stock exchange listing: Growth Section of TSE

Stock code
Representative (title): 7779: President and CEO

URL
Name

: https://www.cyberdyne.jp/english: Yoshiyuki SankaiContact (title): Director and CFO

Name: Shinji Uga
Tel. +81-29-869-9981

Scheduled date ofOrdinary General Meeting of Shareholders
Scheduled date for submission of the Securities Report
Additional materials for the financial results
Information meeting for the financial results

Scheduled start of dividend payment : —: June 22, 2023
: June 23, 2023
: yes
: yes (for institutional investors)(Millions of yen: Rounded to less than one million yen)

Ⅰ. Consolidated financial results for the fiscal year ended March 31, 2023 (April 1, 2022 –March 31, 2023)

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

Revenue％
Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2022

Profit (loss) attributable toowners of parent％％

Profit (loss) before tax
％

3,289

52.9

(1,145)

－

53

－

(298)

－

2,150

14.7

(878)

－

(389)

－

(498)

－

Basic earnings (loss) Diluted earnings (loss)
per shareper share
Yen
Yen
Fiscal year ended
March 31, 2023
Fiscal year ended
March 31, 2022

(1.39)(1.39)(2.32)(2.32)

2. Consolidated financial position
Ratio of equity
Total equity
attributable to owners
Total equity
attributable to owners
Net assets per shareof the parent to totalof the parent
assetsMillions of yen
Millions of yen
Yen％

Total assets
Millions of yen
As of March 31, 2023

50,187

41,983

42,101

83.9

199.32As of March 31, 2022

49,46743,45043,41387.8

201.71

3. Consolidated cash flows
Cash flows fromoperating activities
Millions of yen

Cash flows frominvesting activities
Millions of yen

Cash flows from
Cash and cash equivalents
financing activities
at end of year
Millions of yen
Millions of yen

As of March 31, 2023

(143)

2,173

14

7,801

As of March 31, 2022

(564)

(1,788)

1,248

5,677

Ⅱ. Dividends

Dividends per share
End of
1st quarter(Jun.30, 2022)

End of
2nd quarter(Sep.30, 2022)

End of
3rd quarter(Dec.31, 2022)

Fiscal year end(Mar.31, 2023)

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2022

－

0.00

－

0.00

0.00

Fiscal year ended March 31, 2023

－

0.00

－

0.00

0.00

Total

Note: The table of “Dividends” indicates dividend payments on Common Shares. Dividend payments on Class Shares (non-listed) for
which the number of share units differs from Common Shares are shown below as “Dividends on Class Shares”.
Ⅲ. Forecast of consolidated financial results for the year ended March 31, 2023 (April 1, 2022 – March 31, 2023)
The business of CYBERDYNE, INC. (the "Company") and its group companies (with the Company, collectively referred to as“the Group”) are based on a new market with innovative technologies. Many uncertain factors could impact its performance andmake it difficult for the Company to forecast accurate figures. As such the Company will not announce the forecast of consolidated
financial results.

Notes:
1. Changes in key subsidiaries during the fiscal year under review (changes in specific subsidiaries resulting in changes of
consolidation scope): yes
new: 1 (company name: Leyline GmbH) ,excluded: － (company name: － )2. Changes in accounting policies, accounting estimates and restatement of error corrections(i) Changes in accounting policies required by IFRSs: none(ii) Changes in accounting policies other than those in (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 the period (including treasury shares)
As of March 31, 2023
215,145,809 shares As of March 31, 2022
(ii)

215,145,809 shares

Total number of treasury shares at the end of the period

As of March 31, 2023

4,011,673 shares

As of March 31, 2022

11,671 shares(iii) Average number of shares during the period
Apr.1-March 31, 2023
214,706,740 shares

Apr.1-March 31, 2022

215,134,862 shares

Note: Class B Shares are ranked the same as Common Shares and paid the same amount as Common Shares concerning
dividends of surplus and distribution of residual assets. Therefore, the total number of issued shares in each period andthe average number of shares during each period include Class B Shares as Common Shares.
*This Consolidated Financial Results (Tanshin) is outside the scope of audit procedures by certified public accountants or audit firms.

(Reference) Dividends on Class Shares
Details of dividends on the Company’s Class Shares which differ in shareholder's rights from its Common Shares are statedbelow.
Dividends per share
End of
1st quarter(Jun.30, 2022)

End of
2nd quarter(Sep.30, 2022)

End of
3rd quarter(Dec.31, 2022)

Fiscal year end(Mar.31, 2023)

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2022

－

0.00

－

0.00

0.00

Fiscal year ended March 31, 2023

－

0.00

－

0.00

0.00

Note:
The company issued Class B Shares that have the same rights as Common Shares concerning dividends of surplus and distribution ofresidual property. However, the Class B Share has different share units from Common Shares.

○Contents of the Attached Material
1. Qualitative information regarding settlement of accounts for the fiscal year ended March 31, 2023・・・・・・・・・・・・・・(1) Explanation of operating results・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

22(2) Explanation of financial position・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・(3) Status of cash flow・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・(4) Explanation related to the forecast of consolidated financial results and other forward-looking statements・・

55
5

2. Accounting standards・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・
3. Consolidated Financial Statements and Notes to consolidated financial statements・・・・・・・・・・・・・・・・・・・・・・・・・・・(1) Consolidated statement of financial position・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

677(2) Consolidated statement of profit or loss and consolidated statement of comprehensive income・・・・・・・・・・・・

9

Consolidated statement of profit or loss・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

9

Consolidated statement of comprehensive income・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

10(3) Consolidated statement of changes in equity・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・(4) Consolidated statement of cash flows・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・(5) Notes to consolidated financial statements・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・(Notes on premise of going concern) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

11
13
14
14

(Segment information) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

14(Revenue) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

15(Earnings per share) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・

16

- 1 -

1. Qualitative information regarding settlement of accounts for the fiscal year ended March 31, 2023
(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 March 31, 2023, and certain assumptions made by 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 and mutually
support each other, enabling people to maintain and manage their health even in old age and to exercise their long-cultivatedabilities to the fullest. A society where people can maintain a high degree of independence and lead a life with a higher degreeof freedom, even if their physical condition declines due to disease, accident, aging, or disability. To realize such a society andcreate a new industry based on Cybernics, the Group is developing various Cybernics Technologies that improve, regenerate,
expand, and support the wearer’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 thataims to induce improvement and regeneration of the functions of the brain, nerves, and muscles into a global standard oftreatment.
(Japan)The Group continues its efforts to disseminate Cybernics Treatment, a treatment program using Medical HAL. Postmarketing surveillance on the Medical HAL Lower Limb Type Double-leg Model suggested a high efficacy and safety
towards progressive neuromuscular diseases, for which no effective treatment methods are established yet. The revision of
insurance pricing for 2022 allows hospitals that use the DPC system (80% of base hospitals treating intractable diseases inJapan) to calculate insurance for treatment with HAL on a pay-per-use basis for hospitalized patients. Also, insurance
reimbursement pricing associated with the treatment was increased. Although there was some delay in the installation of
Medical HAL due to the effects of COVID-19, following the pandemic's convergence, new installation orders are increasing
steadily in the new fiscal year.
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 27, 2022.
Accordingly, the Company is preparing for reimbursement insurance coverage procedures, and the Company is consultingwith the regulators on the necessary steps to apply.
Regarding stroke, Compared to 2014-2015, when the HIT2016 study was planned for Medical HAL Lower Limb Type, thepractice conditions surrounding acute stroke treatment and recovery rehabilitation changed significantly. To capture the latest
patient profile and clinical needs, additional studies (clinical trials) are being considered. Based on discussions with theauthorities regarding the clinical significance of the HIT2016 study and the statistical significance of the primary endpoints,
the Group is considering combining the results of additional studies upon application for medical device approval. The results
are believed to be 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 thephysical functions of children affected by cerebral palsy in January 2022. The trial is currently in progress.
(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 27 locations (anincrease of 11 sites since the acquisition). In addition, RHG plans to open new centers in northern areas of California soon.
HAL technology of CYBERDYNE is currently being used in 4 locations, and official service with HAL is being started
gradually from January 2023.

- 2 -(EMEA: Mainly Europe and the Middle East)
Following the fiscal year 2021, the Group continued to promote Cybernics Treatment in significant countries. For example,
the HAL series was installed in Türkiye. In addition, total of 25 units of HAL was exported to an Italian Social Company,
Coopselios. Coopselios specializes in medical and care services. The revenue from the exportation to Italy is planned to berecorded as revenue for 1st quarter of fiscal year ended March 31, 2024.
In Germany, the G-BA (German Federal Joint Committee), the public health insurance authority, has announced to conduct
a clinical trial for spinal cord injury based on public health insurance coverage. As of March 2023, related parties arepreparing the trial protocol.
(APAC: Asia Pacific)
In February 2022, the Group established CYBERDYNE MALAYSIA Sdn. Bhd. in Malaysia as a business promotion base in
APAC, and this establishment contributed to an acceleration of Cybernics Treatment in India, Australia, and Taiwan. In
addition, during the fiscal year under review, Cybernics Treatment commenced in Singapore’s largest hospital, Singapore
General Hospital.
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 (as of March
2023, 104 units of HAL are rented to 10 facilities). Also, the announcement of the construction of the National Center for
Neuro-Robotics and Cybernics, the largest medical complex in Southeast Asia, is scheduled for completion by the end of2024.
Furthermore, the Group has already received approvals from Malaysia, Thailand, and Australian regulators in this region
for Medical HAL Single Joint Type. The Group also obtained approvals from the regulator of Taiwan within this fiscal year.
<<Business operation around applications to support caregivers and care receivers>>
The Group has developed various types of HAL to improve seniors’ need for nursing care, preventing illness and frailty, andmaintaining their independence from care. For example, the HAL Lower Limb Type for improving ambulatory functions;
HAL Single Joint Type to train elbow, knee, and ankle movements; and HAL Lumbar Type to train 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 forseniors in 2019, Kanagawa Prefecture will proceed with a randomized controlled trial starting in 2020. Furthermore, in
October 2022, the Company began joint research with Kanagawa Prefecture, Kanagawa University of Health and Welfare,and Keio University to implement the program in nursing care settings.
(Service at facilities for individuals)
The Group continues to offer Neuro HALFIT, a program that induces improvement of the brain-nerve and musculoskeletal
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 home using HAL. The
Group is working with home visiting service 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 therisk of arrhythmia and atrial fibrillation and prevent myocardial infarction and stroke by accumulating, analyzing, and AIprocessing various healthcare data such as cardiac activity, brain activity, body temperature, SpO2, and daily activities.
Furthermore, Cyvis will also be equipped with an optional feature 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 to strengthen the Group's healthcare business. C2 is best known for developing and operating the"Sound Sleep Alarm" healthcare application that visualizes sleep. The Group applied for Cyvis-1 in April 2022 to register it asa medical device and started trial marketing the product to users in May 2022. Also, for the next-generation model Cyvis 2,
the company applied for a medical device certificate on April 2023.

- 3 -<<Business operation around applications for the workplace and daily life>>(Well-being)
Since October 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 todisseminate 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 on elevators automaticallyand connect with cloud systems; the companies are developing this technology as a solution to make building management
smarter and reduce management costs. Furthermore, the company is expanding 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 thatrealizes real-time, high-resolution 3D imaging of blood vessels and blood in the peripheral organs without needing contrast
agents. The “Medical Innovation Promotion Project (Development and Commercialization Project)” of the Japan Agency for
Medical Research and Development (AMED) is used to accelerate the development of this product. In addition, research isunderway at prominent medical institutions and research facilities overseas for various applications.
Other research projects of the Group include cloth-type HAL for people with disabilities and seniors. This device isdeveloped to maintain and improve the wearers’ walking ability. The Group is also developing a communication robot, whichobtains vital and environmental information while communicating with users to maintain and improve their 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, iscompleted, and companies that the Group is working with are moving into the facility in January 2023.
Numbers of operating units
As of the end of March 2023, 442 Medical HAL Lower Limb Type units were operating worldwide, including those used forclinical research. Out of those units, 84 are used in Japan for treatment. In addition, there were 584 units of HAL Single Joint
Type, mainly from the increase of products used in hospitals. A total of 351 units of HAL for Well-being Lower Limb Typeand HAL for Living Support Lower Limb Type (older model) were in operation. Furthermore, 1,138 units of HAL Lumbar
Type for Well-being were in operation. In addition, there were 419 units of HAL Lumbar Type for Labor Support and 164
units of Cleaning Robots and Transportation Robots.
In the consolidated fiscal year that ended March 31, 2023, the increase of HAL rented outside of Japan, recovery fromCOVID-19, and medical service base in the US contributed to the revenue recorded at ¥3,289 million (52.9% increase year onyear). In addition, the Group recorded a gross profit of ¥1,791 million (22.5% increase year on year).
Research and development expenses were recorded at ¥735 million (3.1% increase 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 ¥2,406 million (33.9% increase year on year) due to an increase
following the M&A in the previous fiscal year.
Other income was recorded at ¥212 million (21.0% increase year on year), mainly from a consigned research project. On
the other hand, other expenses were recorded at ¥8 million (38.5% increase year on year), resulting in an operating loss of¥1,145 million (30.5% increase year on year).
The Group recorded a finance income of ¥1,312 million, mainly due to gains from the valuation difference of investment
securities. In addition, the Group recorded gains related to CEJ Fund at ¥274 million and income tax expense at ¥446 million
from deferred tax expenses, resulting in the posting of loss attributable to owners of the parent at ¥298 million (40.2% increase
year on year).

- 4 -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 fiscal year ended March 31, 2023, the gain on valuation difference of investments securities ¥1,871
million was recorded as finance income and gains related to CEJ Fund. Furthermore, as the Group recorded a loss on thevaluation difference of investment securities, ¥624 million was recorded as finance expense and gains related to CEJ Fund.
Furthermore, deferred tax expense associated with this valuation of ¥641 million was posted as an income tax expense and¥23 million as third-party interest in CEJ Fund, the impact of the calculation of the fair value towards the quarterly profit was¥630 million.
(2) Explanation of financial position① Assets:
For the consolidated fiscal year ended March 31, 2023, assets increased ¥720 million to ¥50,187 million compared to theend of the previous fiscal year. Changes were mainly due to a decrease of ¥5,644 million in other financial assets(current), investment accounted for using equity method recorded at ¥195 million, and other current assets recorded at¥148 million, partially offset by an increase of ¥4,070 million in other financial assets (non-current), ¥2,124 million in
cash and cash equivalents and ¥461 million in goodwill.
② Liabilities:
For the consolidated fiscal year ended March 31, 2023, liabilities increased ¥2,188 million to ¥8,204 million compared tothe end of the previous fiscal year. The changes were mainly due to an increase of ¥1,163 million in contributions into CEJ
Fund from third-party investors, ¥537 million in deferred tax liabilities, and ¥273 million in trade and other payables.
③ Equity:
For the consolidated fiscal year ended March 31, 2023, equity decreased ¥1,467 million to ¥41,983 million compared to theend of the previous fiscal year. Changes were mainly due to an increase of ¥1,188 million in treasury shares.
(3) Status of cash flow
For the consolidated fiscal year ended March 31, 2023, cash and cash equivalents increased ¥2,124 million to ¥7,801 million
compared to the end of the previous fiscal year. The main influence factors for the cash flow status within the consolidated
fiscal ended March 31, 2023, are stated below.
(Cash flows from operating activities)
For the consolidated fiscal year ended March 31, 2023, net cash provided by operating activities recorded an outflow of 143
million (outflow of ¥564 million in the previous fiscal year). Changes were mainly due to depreciation and amortization
recorded at ¥627 million, partially offset by finance income recorded at ¥1,312 million, an increase in trade and otherreceivables recorded an outflow of ¥275 million, and a gain related to CEJ Fund recorded at ¥274 million.
(Cash flows from investment activities)
For the consolidated fiscal year ended March 31, 2023, net cash provided by investing activities recorded an inflow of ¥2,173
million (an outflow of ¥1,788 million in the previous fiscal year). The changes were mainly due to the purchase of investment
recorded at ¥15,000 million, payment into time deposit recorded at ¥2,000 million, purchase of investment securities recordedat ¥3,309 million, partially offset by proceeds of redemption of investments recorded at ¥18,000 million, and proceeds from thewithdrawal of time deposits recorded at ¥4,500 million.
(Cash flows from financing activities)
For the consolidated fiscal year that ended March 31, 2023, net cash used in financing activities recorded an inflow of ¥14
million (an inflow of ¥1,248 million in the previous fiscal year). The changes were mainly due to the acquisition of treasury
stock recorded at ¥1,188 million and the inflow of ¥1,380 million from contributions into CEJ Fund from third-party investors.

(4) Explanation related to the forecast of consolidated financial results and other forward-looking statements
As the business of the Company and 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 the Company to provide a forecast withaccurate figures. As such the Company will not announce the forecast of consolidated financial results.

- 5 -2. Accounting standards
The Group adopts International Financial Reporting Standard (IFRS) from the consolidated financial statements and the Annual
Securities Report for the fiscal year ended March 31, 2018, with the aim of improving the international comparability of theGroups' financial information in the capital markets and strengthening the Groups' business foundations by unifying accounting
standards throughout the Group.

- 6 -3. Consolidated financial statements and Notes to consolidated financial statements(1) Consolidated statement of financial position

As of March 31, 2022

As of March 31, 2023

Millions of yen

Millions of yen

AssetsCurrent assets
Cash and cash equivalents

5,677

7,801

Trade and other receivables
Other financial assets

493
15,151

540
9,507

Inventories

1,089

991

Other current assets

455

308

Total current assets

22,865

19,147430
13,416430
13,406

499

546

2,070

2,531

76
435

80
240

Other financial assets

9,571

13,641Other non-current assets

105

166

Total non-current assets

26,602

31,04049,46750,187

Non-current assets
Operating lease assets
Property, plant and equipment
Right of use assets
Goodwill
Intangible assets
Investments accounted for using equity method

Total assets- 7 -As of March 31, 2022

As of March 31, 2023

Millions of yen

Millions of yen

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

418
34

690
89

Lease liabilities

118

147

Other current liabilities
Total current liabilities

259

365

828

1,291

Non-current liabilities
Bonds and borrowings

34

21

Third-party interests in CEJ Fund
Lease liabilities

3,629
389

4,792
412

Provisions
Deferred tax liabilities

96
1,040

96
1,577

Other non-current liabilities－

14

Total non-current liabilities

5,189

6,913

6,017

8,204

10

10

Capital surplus
Treasury shares
Other components of equity
Retained earnings

42,869(0)(1,145)
1,679

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

Total equity attributable to owners of the parent

43,413

42,101

Non-controlling interests
Total equity

38

(118)

43,45041,983

Total liabilities and equity

49,46750,187

Total liabilities
EquityShare capital- 8 -(2) Consolidated statement of profit or loss and consolidated statement of comprehensive income(Consolidated statement of profit or loss)
Fiscal year ended
March 31, 2022

Fiscal year ended
March 31, 2023

Millions of yen
2,150

Millions of yen
3,289

Cost of sales(688)(1,498)Gross profit

1,462

1,791

Revenue

Selling, general and administrative expenses
Research and development expenses

(713)

(735)

Other selling, general and administrative expenses(1,797)(2,406)

Total selling, general and administrative expenses
Other income(2,509)175(3,140)212

Other expenses

(6)

(8)

Finance income
Finance costs

(878)
398
(4)

(1,145)
1,312
(193)

Gains related to CEJ Fund

115

274

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

(19)

(195)

Profit (loss) before tax

(389)

53

Income tax expense

(133)

(446)

Profit (loss)

(522)

(393)

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

(498)
(24)

(298)
(95)

(522)

(393)

Basic earnings (loss) per share (yen)(2.32)(1.39)

Diluted earnings (loss) per share (yen)(2.32)(1.39)

Operating profit (loss)

Profit (loss)
Earnings (loss) per share- 9 -(Consolidated statement of comprehensive income)

Profit (loss)

Fiscal year ended
March 31, 2022

Fiscal year ended
March 31, 2023

Millions of yen

Millions of yen
(522)

(393)

Financial assets measured at fair value through othercomprehensive income

(20)

36

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

(20)

36

Exchange differences on translation of foreign operations

149

134

Total of items that may be reclassified to profit or loss

149

134

129

170

(393)

(223)

Owners of parent

(371)

(131)

Non-controlling interests

(22)

(91)

Comprehensive income

(393)

(223)

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) Consolidated statement of changes in equity
Fiscal year ended March 31, 2023
Equity attributable to owners of parent
Other components of equity

April 1, 2021
Profit (loss)
Other comprehensive income
Total comprehensive income
Share-based payment transactions
Equity transaction with non-controllinginterest
Increase (decrease) by business combination
Total transactions with owners
March 31, 2022
Profit (loss)
Other comprehensive income

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

－
－

－
－

－
－

－
(20)

－
147

－
－

－
－

－
8

－
－

(20)

147

－

－

－
－

－

－

－

－

－

－

－

－

－

－

－

－

－

8

－

－

－

－

10

42,869(0)(1,306)

142

19

－
－

－
－

－
－

－
36

－
130

－
－

－

36

130

－

－

－

－

－

－

－

Exchangedifferences ontranslation offoreign
operations

Share
acquisitionrightsTotal comprehensive income－

Share-based payment transactions－－
8

Acquisition of treasury shares－－－(1,188)

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

8

(1,188)

－

－

－

10

42,877(1,188)(1,270)272

19Equity transaction with non-controllinginterest
Increase (decrease) by business combination
Other
Total transactions with owners
March 31, 2023

- 11 -

Equity attributable to owners of parent
Other
components ofequityNon-controllinginterests

Total equity

Millions of yen
43,776

Millions of yen
10Millions of yen
43,786

－

(498)
127

(24)
2

(522)
129

127

(498)

(371)

(22)

(393)

－

－

8

－

8

－

－

－

8

8

－

－

－

41

41

－

－

8

49

58

March 31, 2022

(1,145)

Profit (loss)

－
166

1,679
(298)

43,413
(298)

38
(95)

43,450(393)

Retainedearnings

Total

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

－
127

(498)

Total comprehensive income
Share-based payment transactions

Total

April 1, 2021
Profit (loss)
Other comprehensive income

Equity transaction with non-controllinginterest
Increase (decrease) by business combination
Total transactions with owners

Other comprehensive income

－

166

4

170

Total comprehensive income

166

(298)

(131)

(91)

(223)

Share-based payment transactions
Acquisition of treasury shares

－
－

－
－

8
(1,188)－－8(1,188)

－

－

－

9

9

－
－

－
－

－
－

(75)
2

(75)
2

Equity transaction with non-controllinginterest
Increase (decrease) by business combination
Other
Total transactions with owners
March 31, 2023－－

(1,180)(65)(1,244)

(979)

1,381

42,101(118)

41,983- 12 -

(4) Consolidated statement of cash flows
Fiscal year ended
March 31, 2022

Fiscal year ended
March 31, 2023

Millions of yen

Millions of yen

Cash flows from operating activities
Profit (loss) before tax

(389)

53

Depreciation and amortization
Finance income

482
(398)

627
(1,312)Finance costs
Gains on CEJ Fund

4
(115)

193
(274)

19

195

Share of loss (profit) of investments accounted for using equity
methodDecrease (increase) in inventories

(281)

98

Decrease (increase) in trade and other receivables
Increase (decrease) in trade and other payables

29
(61)

(275)
379

Other

187

261

(521)
16

(55)
20

(2)
53

(0)
2

Payments for administrative expenses etc. related to CEJ Fund

(110)

(110)

Net cash provided by (used in) operating activities

(564)

(143)

(19,499)
26,000(2,500)(15,000)
18,000(2,000)

Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Purchase of intangible assets－(1,770)
(6)

4,500
(451)
(58)

Purchase of investment securities(1,848)(3,309)－556(2,008)

(23)

(139)
－
(18)

(69)
13
14

(1,788)

2,173

(47)

(12)
(1,188)SubtotalInterest and dividends received
Interest paid
Income taxes refund

Cash flows from investing activities
Purchase of investments
Proceeds of redemption of investments
Payments into time deposits

Proceeds from sale of investment securities
Purchase of stock of subsidiaries with change of scope of
consolidation
Payments for loan receivables
Collection of loans receivable
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of long-term borrowings
Purchase of treasury shares－(68)

Lease liabilities paid

(153)

Contributions into CEJ Fund from third-party investors
Other

1,360
3

1,380
(13)

Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents

1,248
77

14
80

Net increase (decrease) in cash and cash equivalents(1,027)

2,124

Cash and cash equivalents at beginning of fiscal year

6,704

5,677

Cash and cash equivalents at end of year

5,677

7,801

- 13 -

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

(Segment information)
Segment information:
Fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)
Since the company group had a single segment, segment information was omitted.
Fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)
Since the company group had a single segment, segment information was omitted.

- 14 -

(Revenue)
Disaggregation of revenue
Details of disaggregation of revenue are set forth below.

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

Fiscal year ended
March 31, 2022

Fiscal year ended
March 31, 2023

Millions of yen

Millions of yen
1,457

1,666

169
524

202
1,421

2,150

3,289

(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 acceptance ofthe 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.
The Group recognizes usage fee revenue from the provision and operation of applications for smartphones as revenue
over time, as services are provided through the applications over a fixed period of time.
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 fromthe point of satisfying the performance obligation. With regards to 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 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.

- 15 -

(Earnings per share)
1. The basis for calculating basic earnings per share
Fiscal year ended
March 31, 2022
Loss attributable to owners of parent

(498)

(298)

－

－

(498)

(298)

215,134,862

214,706,740(2.32)(1.39)(Millions of yen)Amount not available for common shareholders and shareholders
equivalent to common shareholders(Millions of yen)
Loss used to calculate basic earnings per share(Millions of yen)
Average number of common shares and shares equivalent tocommon shares during the period (Shares)
Basic earnings (loss) per share (Yen)

Fiscal year ended
March 31, 2023

2. The basis for calculating diluted earnings per share
Fiscal year ended
March 31, 2022
Loss used to calculate basic earnings per share(Millions of yen)

(498)

(298)

－

－

(498)

(298)

215,134,862

214,706,740－－

215,134,862

214,706,740(2.32)(1.39)

Adjustments to loss (Millions of yen)
Loss used to calculate diluted earnings per share(Millions of yen)
Average number of common shares and shares equivalent tocommon shares during the period (Shares)
Adjustment *Note
Average number of diluted common shares and shares equivalent tocommon shares during the period (Shares)

Fiscal year ended
March 31, 2023

Diluted earnings (loss) per share (Yen)(Note) Summary of potential shares not included in the calculation of diluted earnings per share as it does not havedilutive effects
Fiscal year ended
Fiscal year ended
March 31, 2022
March 31, 2023
SharesShares2015 1st Series Stock Option of CYBERDYNE, INC.

(Common share)

7,800(Common share)

7,800

2016 1st Series Stock Option of CYBERDYNE, INC.

(Common share)

4,600(Common share)

4,600

2017 1st Series Stock Option of CYBERDYNE, INC.

(Common share) 10,500- 16 -(Common share) 10,500