Consolidated Financial Results (Tanshin)for the Nine Months Ended December 31, 2022 (Based on IFRS)
February 14, 2023
Name of listed company:CYBERDYNE, INC.
Stock code
:7779
Representative (title):President and CEO
Contact (title):Director and CFO
Scheduled date for release of nine-month report
Additional materials for the financial results
Information meeting for the financial results

Stock exchange listing
URL
Name
Name
:February 14, 2023
:none
:none

:Growth Market 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 nine months ended December 31, 2022 (April 1, 2022-December 31, 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-Dec. 31, 2022

2,374

76.3

(749)

－

112

－

68

－

Apr.1-Dec. 31, 2021

1,347

8.0

(656)

－

(554)

－

(590)

－

Apr.1-Dec. 31, 2022

Basic earnings (loss)
per share
Yen
0.32

Diluted earnings (loss)
per shareYen
0.32

Apr.1-Dec. 31, 2021

(2.74)(2.74)

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 Dec. 31, 2022

51,166

43,59043,60085.2

As of March 31, 2022

49,46743,45043,41987.8

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 December 31, 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 December 31, 2022

11,672 shares(ⅲ) Average number of shares during each three month period
Apr.1-December 31, 2022
215,134,138 shares
Apr.1-December 31, 2021
215,135,098 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 nine 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 the settlement of accounts for the nine months ended December 31, 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 nine months ended December 31, 2022, 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 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 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 Cybernics 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. Furthermore, the Group will utilize such
results to list this treatment methodology for insurance worldwide, establishing it as a global standard forprogressive neuromuscular disease for which no effective treatment method existed.
On October 27, 2022, the Japanese Minister of Health, Labour, and Welfare approved additional indicationsof HTLV-1-associated myelopathy (HAM) and hereditary spastic paraplegia for HAL. Accordingly, theCompany is making preparations for procedures related to reimbursement insurance coverage.
Furthermore, regarding the investigator-initiated clinical trial for stroke patients in Japan, the primary
endpoints' clinical significance and statistical significance are being discussed with the authorities,
investigators, and statistical experts. The Group also considers the result compelling data for medical

insurance for stroke worldwide.

- 2 -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 trial is currently

in progress.
(USA)
RISE Healthcare Group (RHG), the Company’s subsidiary, currently offers medical service in 26 locations(an increase of 10 sites since the acquisition), mainly in the Southern regions of California. In addition, RHG
plans to open new centers in northern areas of California soon. RHG is also conducting trials of combined
services with the innovative medical HAL technology of CYBERDYNE in 4 locations, and official service
with HAL is being started gradually from January 2023.

(EMEA: Mainly Europe and the Middle East)
Following the previous year, the Group is promoting Cybernics Treatment in major countries of the region,such as Türkiye, which implemented the technology this fiscal year.
In Germany, the G-BA (German Federal Joint Committee), the public health insurance authority, hasannounced the protocol framework for a clinical trial for spinal cord injury based on public health insurance
coverage. The trial is currently under preparation.
(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. In addition, during the fiscal year under review, Cybernics Treatmentcommenced in Singapore.
The Group continues to strengthen its partnership with the government-affiliated Social Security
Organization (SOCSO) in Malaysia. The collaboration resulted in increased access for Malaysian patients
under the SOCSO coverage and the announcement of the construction of the National Center for NeuroRobotics and Cybernics, the largest medical complex in Southeast Asia, scheduled for completion by the endof 2024.
Furthermore, for Medical HAL Single Joint Type, the Group has already received approvals from Malaysia,
Thailand, and Australian regulators in this region. 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, and maintaining 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; andHAL Lumbar Type to train the trunk and lower limb function. Based on the positive results of a pilot study ofa care prevention program utilizing the HAL Lumbar Type for the elderly in 2019, Kanagawa Prefecture willproceed with a randomized controlled trial starting in 2020. 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. Ina City in Nagano Prefecture has also started a healthpromotion project to improve seniors' health and quality of life (QOL) by enhancing their physical functions
and motivation. The Company will continue to promote cooperation with local governments.

- 3 -(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 18 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 to enable individuals to work out at home using HAL. In thisservice, the user utilizes HAL Monitor to visualize their bio-electrical signals, postures, and many more,
receiving visual feedback. Also, by linking the data with Cyberdyne Cloud, the users can receive advice fromtheir trainers remotely. The Group is also working 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 tostrengthen 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
as a medical device and started trial marketing 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.
(Cleaning)
The Group works with a major construction company for its next-generation Cleaning Robot CL02, whichuses cutting-edge SLAM technology to achieve high-speed autonomous driving. Because CL02 can 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.

- 4 -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 the need for contrast agents. The "Medical Innovation Promotion Project (Development andCommercialization Project)" of the Japan Agency for Medical Research and Development (AMED) is used toaccelerate the development of this product. In addition, research is underway at prominent medical institutions
and research facilities overseas for various applications.
Other research projects of the Group include cloth-type HAL, a communication robot, and a personal
mobility robot.
In addition, Cybernics Medical Innovation Base A building in the national strategic zone of Kawasaki City,
Japan, is completed, and companies that the Group is working with are starting to move into the facility fromJanuary 2023.
Numbers of operating units
As of the end of December 2022, 404 units of Medical HAL Lower Limb Type were operating worldwide,
including those used for clinical research. Out of those units, 82 units are used in Japan for treatment. In
addition, there were 557 units of HAL Single Joint Type, mainly from the increase of products used byhospitals. A total of 347 units of HAL for Well-being Lower Limb Type and HAL for Living Support Lower
Limb Type (older model) were in operation. Furthermore, 1,181 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 154 units ofCleaning Robots and Transportation Robots.
In the consolidated nine months ended December 31, 2022, the significant increase from medical services in
the US and rental in Asia and Europe contributed to the revenue recorded at ¥2,374 million (76.3% increase

year on year). In addition, the Group recorded a gross profit of ¥1,482 million (a 50.5% increase year on year).
Research and development expenses were recorded at ¥494 million (a 5.5% decrease year on year), mainly
due to the development of 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 ¥1,814 million(53.3% increase year on year) due to an increase following the M&A in the previous fiscal year.
Other income was recorded at ¥78 million (18.9% increase year on year), mainly from a consigned research
project, resulting in an operating loss of ¥749 million (14.2% increase year on year).
The Group recorded finance income at ¥694 million, mainly due to gains from the valuation difference ofinvestment securities and translation of foreign operations. In addition, the Group recorded gains related to
CEJ Fund at ¥199 million and income tax expense at ¥106 million from deferred tax expenses, resulting in theposting of profit attributable to owners of the parent at ¥68 million (loss of ¥590 million in the same period 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, during the consolidated nine months period ended December 31, 2022, thegain on valuation difference of investments securities ¥867 million was recorded as finance income.
Furthermore, as the Group recorded deferred tax expense associated with this valuation of ¥151 million as anincome tax expense and ¥127 million as third-party interest in CEJ Fund, the impact of the calculation of thefair value towards the quarterly profit was ¥589 million.

- 5 -(2) Explanation of financial position① Assets
For the consolidated nine months ended December 31, 2022, assets increased ¥1,700 million to ¥51,166
million compared to the end of the previous fiscal year. Changes were mainly due to a decrease of ¥1,940
million in other financial assets (current), partially offset by an increase of ¥3,264 million in otherfinancial assets (non-current) and ¥656 million in cash and cash equivalents.
② Liabilities
For the consolidated nine months ended December 31, 2022, liabilities increased ¥1,560 million to ¥7,576
million compared to the end of the previous fiscal year. The changes were mainly due to an increase of¥1,330 million in contributions into CEJ Fund from third-party investors and ¥160 million in deferred tax
liabilities.
③ Equity
For the consolidated nine months ended December 31, 2022, equity decreased ¥188 million to ¥43,590
million compared to the end of the previous fiscal year. Changes were mainly due to a decrease in othercomponents of equity.
(3) Status of cashflow
For the consolidated nine months ended December 31, 2022, cash and cash equivalents increased ¥656
million to ¥6,334 million compared to the end of the previous fiscal year. The main influence factors for the
cash flow status within the consolidated nine months ended December 31, 2022, are stated below.
(Cash flows from operating activities)
For the consolidated nine months ended December 31, 2022, net cash provided by operating activities
recorded an inflow of 122 million (outflow of ¥208 million in the previous fiscal year). Changes were mainly
due to finance income recorded at ¥694 million, partially offset by profit before tax recorded at ¥112 million,
depreciation and amortization posted at ¥431 million.

(Cash flows from investment activities)
For the consolidated nine months ended December 31, 2022, net cash provided by investing activities recorded
an outflow of ¥800 million (outflow of ¥725 million in the previous fiscal year). The changes were mainly due
to proceeds of redemption of investment posted at ¥14,500 million, proceeds from withdrawal of time deposits
posted at ¥4,500 million, partially offset by the payment of ¥15,000 million from the purchase of investments,and ¥3,009 million from the purchase of investment securities.
(Cash flows from financing activities)
For the consolidated nine months ended December 31, 2022, net cash used in financing activities recorded an
inflow of ¥1,265 million (inflow of ¥1,268 million in the previous fiscal year). The changes were mainly due
to the 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 December 31, 2022

Millions of yen

Millions of yen

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables

5,677
493

6,334
386

Other financial assets

15,151

13,211Inventories

1,089

1,071

Other current assets

455

189

Total current assets

22,86521,191

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

430
13,416
499
2,070
76

397
13,441
474
2,207
52

Investments accounted for using equity method
Other financial assets

435
9,571

412
12,835

Other non-current assets

105

157

Total non-current assets

26,602

29,97549,46751,166

Non-current assets

Total assets- 7 -As of March 31, 2022

As of December 31, 2022

Millions of yen

Millions of yen

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

418
34

437
29

Lease liabilities

118

126

Other current liabilities
Total current liabilities

259

334

828

926

Non-current liabilities
Bonds and borrowings

34

24

Third-party interests in CEJ Fund
Lease liabilities

3,629
389

4,960
359

Provisions
Deferred tax liabilities

96
1,040

96
1,200

Other non-current liabilities－

11

Total non-current liabilities

5,189

6,650

6,017

7,576

10

10

Capital surplus
Treasury shares
Other components of equity
Retained earnings

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

42,875(0)(1,032)
1,747

Total equity attributable to owners of the parent

43,41343,600Non-controlling interests
Total equity

38

(10)

43,45043,590Total liabilities and equity

49,46751,166

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
Nine months ended
December 31, 2021

Nine months ended
December 31, 2022

Millions of yen
1,347

Millions of yen
2,374

Cost of sales

(362)

(892)

Gross profit

984

1,482

Research and development expenses
Other selling, general and administrative expenses(523)(1,183)(494)(1,814)

Total selling, general and administrative expenses
Other income(1,705)66(2,308)78

Other expenses

(0)

(1)

Operating loss

(656)
30

(749)
694

(2)
95

(9)
199

(21)

(23)

Income tax expense

(554)
(53)

112
(106)

Profit (loss)

(607)

6

Profit (loss) attributable to
Owners of parent

(590)

68

Non-controlling interests

(17)

(63)

Profit (loss)

(607)

6

Basic earnings (loss) per share (yen)(2.74)

0.32

Diluted earnings (loss) per share (yen)(2.74)

0.32

Revenue

Selling, general and administrative expenses

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

Earnings (loss) per share- 9 -Condensed quarter period consolidated statement of profit or loss
Three months ended
December 31, 2021

Three months ended
December 31, 2022

Millions of yen

Millions of yen

Revenue
Cost of sales

521
(156)

831
(339)

Gross profit

365

492

Selling, general and administrative expenses
Research and development expenses

(173)

(161)

Other selling, general and administrative expenses

(401)

(652)

Total selling, general and administrative expenses

(574)

(813)

Other income
Other expenses

34
(0)

13
(0)

Operating loss

(175)
3
(0)

(307)
13
(3)

13

45

(5)

(9)

Income tax expense

(164)
(3)

(261)
28

Profit (loss)

(167)

(233)

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

(162)
(5)

(200)
(34)

(167)

(233)

(0.75)(0.93)(0.75)(0.93)

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)

Nine months ended
December 31, 2021

Nine months ended
December 31, 2022

Millions of yen

Millions of yen
(607)

6

Financial assets measured at fair value through othercomprehensive income

(50)

(13)

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

(50)

(13)

Exchange differences on translation of foreign operations

60

130

Total of items that may be reclassified to profit or loss

60

130

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

9

117

(598)

123

Owners of parent
Non-controlling interests

(581)
(17)

181
(58)

Comprehensive income

(598)

123

Comprehensive income
Comprehensive income attributable to- 11 -

(3) Condensed quarterly consolidated statement of changes in equity (Unaudited)
Nine months ended December 31, 2021 (from April 1, 2021 to December 31, 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

－
－

－
－

－
－

－
(50)

－
60

－
－

April 1, 2021
Profit (loss)
Other comprehensive income

Exchangedifferences ontranslation offoreign
operations

StockacquisitionrightsTotal comprehensive income

－

－

－

(50)

60

－

Share-based payment transactions

－

6

－

－

－

－

Equity transaction non-controlling

－

－

－

－

－

－

Increase (decrease) by business combination

－

－

－

－

－

－

－

6

－

－

－

－

10

42,867(0)(1,336)54

19

Non-controllinginterests

Total equity

Total transactions with owners
December 31, 2021

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(1,272)

2,177
(590)

43,776
(590)

10
(17)

43,786(607)

Total
April 1, 2021
Profit (loss)
Other comprehensive income

－
9

－

9

－

9

9

(590)

(581)

(17)

(598)

Share-based payment transactions

－

－

6

Equity transaction non-controlling
Increase (decrease) by business combination

－
－

－
－

－
－

－
8
67

8
67

Total comprehensive income

Total transactions with owners
December 31, 2021

6

－

－

6

75

81

(1,263)

1,587

43,201

69

43,270- 12 -

Nine months ended December 31, 2022 (from April 1, 2022 to December 31, 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

－
－

－
－

－
－

－
(13)

－
126

－
－

April 1, 2022
Profit (loss)
Other comprehensive income

Exchangedifferences ontranslation offoreign
operations

StockacquisitionrightsTotal comprehensive income

－

－

－

(13)

126

－

Acquisition of treasury shares

－

(0)

－

－

－

Share-based payment transactions

－

－
6

－

－

－

－

Equity transaction non-controlling
Other

－
－

－
－

－
－

－
－

－
－

－
－

Total transactions with owners

－

6

(0)

－

－

－

10

42,875(0)(1,320)268

19Non-controllinginterests

Total equity

December 31, 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
68

38
(63)
4

43,4506117

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

43,413
68
113

Total comprehensive income

113

68

181

(58)

123

Acquisition of treasury shares

－

－

(0)

－

(0)

Share-based payment transactions

－

－

6

6

Equity transaction non-controlling
Other

－
－

－
－

－
－

－
9
2

Total transactions with owners
December 31, 2022

－
113

9
2

－

－

6

11

17

(1,032)

1,747

43,600(10)

43,590- 13 -

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

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

Nine months ended
December 31, 2021

Nine months ended
December 31, 2022

Millions of yen

Millions of yen
(554)
347

112
431

Finance income
Finance costs
Loss (gains) on CEJ Fund

(30)
2
(95)

(694)
9
(199)

Share of loss (profit) of investments accounted for using equity
method21

23

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

(281)
139

17
107

Increase (decrease) in trade and other payables

121

19

Other

58

284

(270)

110

11
(2)
53

10
(0)
2

(208)

122

Purchase of investments
Proceeds of redemption of investments
Payment into time deposit(10,999)
16,000(1,000)(15,000)
14,500(2,000)

Proceeds from withdrawal of time deposits

－
(853)
(6)
(1,848)4,500

Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities－(3,009)Proceeds from sale of investment securities－

556(1,908)

－

(93)

(66)
10

SubtotalInterest received
Interest paid
Income tax refund
Net cash provided by (used in) operating activities
Cash flows from investing activities

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

(301)

Other

－
(18)

Net cash provided by (used in) investing activities

(725)

(800)

(44)
(47)

(9)
(97)

1,360

1,380

(1)

(9)

1,268

1,265

25

70

10

Cash flows from financing activities
Repayments of long-term borrowings
Repayments of lease obligation
Contributions into CEJ Fund from third-party investors
Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents

360

656

Cash and cash equivalents at beginning of fiscal year

6,704

5,677

Cash and cash equivalents at end of year

7,064

6,334

- 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 nine months
ended December 31, 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 nine months ended December 31, 2022 has been calculated based on theestimated annual effective income tax rate.

- 15 -

(Revenue)
Disaggregation of revenue
Details of disaggregation of revenue are set forth below.
Nine months ended
December 31, 2021

Nine months ended
December 31, 2022

Millions of yen

Millions of yen

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

1,057
85

1,248
140

Service transferred at a point of time

204

986

1,347

2,374

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
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 pointof customer acceptance of the relevant product. Therefore, the Group receives most of the payment within one monthfrom 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 -