(TRANSLATION)
This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail. The Company
assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from thetranslation.

Consolidated Quarterly Financial Results(based on Japanese standards)
For the three months ended June 30, 2023
July 28, 2023
Company name:
FANUC CORPORATION
Stock exchange listing: Tokyo Stock Exchange
Stock code:
6954
URL: https://www.fanuc.co.jp/eindex.html
Representative: (Title) President(Name) Kenji YamaguchiContact:(Title) Manager, Public Relations & Shareholders Relations Department(Name) Naoki Yukisada
TEL: (0555)84－5555
Scheduled date of filing quarterly report: August 9, 2023
Scheduled date of commencing of dividend payments: Availability of supplementary briefing material on quarterly financial results: Available
Schedule of quarterly financial results briefing session: Scheduled
1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 – June 30, 2023)(1) Consolidated Results of Operations (cumulative)(% represents changes from the previous corresponding three-month period.)
Net income
Three months
Net
sales
OperatingincomeOrdinary
incomeattributableto owners
ended June 30
of parent
Millions of yen%

Millions of yen

2023
201,771(4.6)
2022
211,563
14.2
Note: Consolidated comprehensive income:Three months
ended June 30%

Millions of yen

32,594(34.5)
49,757(4.4)
April-June 2023:
April-June 2022:

Net income
per share

Net income
per share(diluted)

Yen

Yen

%

Millions of yen

41,675(30.0)
59,5382.7¥72,004 million (15.0)%¥84,743 million 76.8%

30,324
42,122%(28.0)
4.5

2023
31.82
—
2022
44.00
—
Note: On April 1, 2023, the Company performed a 1-to-5 stock split of common share. “Net income per share” wascalculated assuming that the stock split was performed at the beginning of the previous fiscal year.
(2) Consolidated Financial Position
Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen%

1,868,123
1,640,675
87.2
1,873,536
1,627,555
86.2(Reference) Equity: June 30, 2023: ¥1,629,393 million March 31, 2023: ¥1,615,376 million
June 30, 2023
March 31, 2023

2. Dividends
Dividends per share
1st Quarter

2nd Quarter

3rd Quarter

Fiscal year-end

Full year

Yen

Yen

Yen

Yen

Yen

FY2022264.02271.64535.66——FY2023—
FY2023————(forecast)
Note: We have not changed the forecasts of dividends from the latest ones.
Note: On April 1, 2023, the Company performed a 1-to-5 stock split of common share. Figures for FY2022 are theactual amount of dividends before the stock split.

Note: The 2nd quarter-end and year-end dividends for FY2023, will be disclosed promptly upon their availability.
3. Consolidated Financial Forecasts for FY 2023 (April 1, 2023 – March 31, 2024)(% for the 2Q cumulative period and for the full year represents changes from the same quarter of the previous
fiscal year and changes from the previous fiscal year respectively.)
Net income
Net income
Net sales
Operating income
Ordinary income
attributable toper shareowners of parent
2nd Quarter(Cumulative)

Millions of yen%

384,600(7.6)

Millions of yen%

Millions of yen

62,500 (34.0)%

Millions of yen%

Yen

81,400 (29.6)

60,800 (27.8)

63.80

Full year
750,300 (11.9)
118,300 (38.2)
150,300 (35.0)
Note: We have changed the forecasts of financial results from the latest ones.

113,100 (33.7)

118.69*Notes(1) Changes in Significant Subsidiaries during the three months ended June 30, 2023
(changes in specific subsidiaries that caused change in scope of consolidation) : No
(2) Adoption of Simplified and Specifically Applied Accounting Method for Quarterly
Consolidated Financial Reporting:No(3) Changes in Accounting Principles and Accounting Estimates, and Revisions/Restatements
1.

Changes in accounting principles associated with changes inaccounting standards

:

No

2.

Changes in accounting principles other than 1:

Yes

3. Changes in accounting estimates:No

4. Revisions/Restatements:

No

Note: For details, please see “3. Other Information (3) Changes in Accounting Principles and Accounting
Estimates, and Revisions/Restatements” on page 9 of the Accompanying Documents.
(4) Number of shares outstanding (Common shares)
1.

Number of shares outstanding at the end of the period (including treasury stocks)
1,003,073,989
June 30, 2023
March 31, 2023
shares2.

Number of treasury stocks at the end of the period
50,155,241
June 30, 2023
sharesMarch 31, 2023

56,626,695
shares3.

Average number of shares during the period
952,918,966
April-June 2023
sharesApril-June 2022

957,338,500
shares1,009,546,985
sharesNote: On April 1, 2023, the Company performed a 1-to-5 stock split of common stock. “Number of shares
outstanding at the end of the period,” “Number of treasury stocks at the end of the period” and“Average number of shares during the period” were calculated assuming that the stock split was
performed at the beginning of the previous fiscal year.
＊ The report of the quarterly financial results is not subject to audit by certified public accountant or audit firm.
＊ Notes on appropriate use of the financial forecasts, other notes.
Any forward looking statements such as financial forecasts described in this report are subject to uncertain
factors such as product supply and demand trends, industry competition, economic conditions, and others inmajor markets. Actual results may differ from these forecasts. For the details of the financial forecasts, pleasesee “Financial Results Forecasts” on page 4 of the Accompanying Documents. The forecasts of the 2nd
quarter-end and the year-end dividends for FY2023, will be disclosed promptly upon their availability.

Table of Contents of Accompanying Documents
1. Results of Operations and Financial Position

2(1) Results of Operations

2(2) Financial Position

3(3) Financial Results Forecasts

4

2. Consolidated Quarterly Financial Statements

5(1) Consolidated Quarterly Balance Sheet

5(2) Consolidated Quarterly Statement of Income andConsolidated Quarterly Statement of Comprehensive Income

7

Consolidated Quarterly Statement of Income

7

Consolidated Quarterly Statement of Comprehensive Income

8

3. Other Information

9(1) Changes in Significant Subsidiaries during the three months
ended June 30, 2023

9(2) Adoption of Simplified and Specifically Applied Accounting
Method for Quarterly Consolidated Financial Reporting

9(3) Changes in Accounting Principles and Accounting Estimates, andRevisions/Restatements

9(4) Note on Premise of a Going Concern

9(5) Note on the Substantial Change in Shareholders’ Equity

91

1. Results of Operations and Financial Position(1) Overview of Results of Operations
Regarding the circumstances surrounding the FANUC Group during the first three-month period of
the fiscal year ending March 31, 2024 (from April 1 to June 30, 2023), while the impact on production
activities by shortage in semiconductors and other components in the supply chain that had continued
until now has subsided, the outlook remained uncertain due to several factors, such as the effects ofprogressing global inflation, concerns of an economic slowdown, and fluctuations in exchange rates.
In addition, inventory adjustments from the second half of FY 2022 (the fiscal year ended March 31,2023) had an impact on production. Amidst these difficult conditions, the Company has done every
effort to minimize the impact on the financial results through the concerted efforts of all departments,
including sales divisions, R&D divisions, factories, service divisions, and administrative departments.
During the three months from April to June 2023, FANUC posted consolidated net sales totaling¥201,771 million, down 4.6%, consolidated ordinary income totaling ¥41,675 million, down 30.0%, andnet income attributable to owners of parent totaling ¥30,324 million, down 28.0%, compared with thecorresponding period of the previous fiscal year.
An overview of the results for each business division is as follows:
In the FA Division, demand from the machine tool industry, the primary market for CNC systems,
showed a slowdown trend in each country around the world, including Japan, except the Indian market,
where demand was firm, and sales of our CNC systems also declined. Net sales in the FA Division
amounted to ¥49,653 million, down 24.3% compared with the corresponding period of the previous
fiscal year.
In the Robot Division, sales increased due to strong demand in China for EV industry and generalindustries, mainly for renewable energy-related industries. In the U.S., demand for EV-relatedindustries remained very strong and sales increased. In Europe, demand for general industries
remained very strong and EV-related business negotiations became active, resulting in an overall
increase in sales. In Japan, sales increased as sales for general industries remained strong, despitesluggish sales for automobile industry. As a result, net sales in the Robot Division amounted to¥96,479 million, up 20.0% compared with the corresponding period of the previous fiscal year.
In the Robomachine Division, sales of ROBODRILLs (compact machining centers) decreased due
to a drop in demand in the Americas and China. Sales of ROBOSHOTs (electric injection molding
machines) declined due to a peaking-out in demand from the IT-related and medical markets. Salesof ROBOCUTs (wire electrical-discharge machines) decreased due to lower demand from IT-related
and EV-related markets in China, although demand from the medical market remained strong. As aresult, net sales in the Robomachine Division amounted to ¥25,493 million, down 36.6% comparedwith the corresponding period of the previous fiscal year.
In the Service Division, with an emphasis on our policy of “Service First,” we are strengthening theservice system and improving efficiency by actively introducing IT technology. Net sales in the Service
2

Division amounted to ¥30,146 million, up 18.8% compared with the corresponding period of theprevious fiscal year.

(2) Financial Position
Total assets were ¥1,868,123 million, down ¥5,413 million compared with the end of the previous
fiscal year.
Total liabilities were ¥227,448 million, down ¥18,533 million compared with the end of the previous
fiscal year.
Total net assets were ¥1,640,675 million, up ¥13,120 million compared with the end of the previous
fiscal year.

3(3) Financial Results Forecasts
Due to the expected prolonged impact on production based on inventory adjustments from thesecond half of FY 2022 (the fiscal year ended March 31, 2023), in addition to concerns about the
global economic slowdown, the Company changes the financial results forecasts for the first half of
FY 2023 (the fiscal year ending March 31, 2024) and the full year ending March 31, 2024, as follows.

For the first half of the FY 2023 (April 1, 2023 through September 30, 2023)(Millions of yen)Previous forecast(released on
April 26, 2023)[A]

New forecast[B]

Comparison with
Previous forecast (%)[(B-A) / A]

Net sales

399,600

384,600(3.8)%

Operating income

76,20062,500(18.0)%

Ordinary income

91,60081,400(11.1)%Net income
attributable to ownersof parent

67,10060,800(9.4)%For the FY 2023 (April 1, 2023 through March 31, 2024)(Millions of yen)Previous forecast(released on
April 26, 2023)[A]

New forecast[B]

Comparison with
Previous forecast (%)[(B-A) / A]

Net sales

819,500

750,300(8.4)%

Operating income

156,300

118,300(24.3)%

Ordinary income

185,500

150,300(19.0)%Net income
attributable to ownersof parent

137,100

113,100(17.5)%

Note: The currency rate applied to the period from July 1, 2023 to March 31, 2024 is averaged at 130
yen/US dollar and 145 yen/Euro.

4

2. Consolidated Quarterly Financial Statements(1) Consolidated Quarterly Balance Sheet(Millions of yen)March 31, 2023

June 30, 2023

AssetsCurrent assets
Cash and bank deposits

512,528

481,723

Accounts receivable, trade24,824
137,961

23,666132,347

Marketable securities
Finished goods

16,700157,888

16,300173,996

Work in progress
Raw materials and supplies

92,098100,591

96,015
107,650

Other current assets
Allowance for doubtful accounts
Total current assets

20,549(1,399)23,197(1,442)

1,061,740

1,053,452

Buildings, net
Land325,102
158,055

326,758
159,901

Other, net

105,539

111,835

588,696

598,494

10,855

10,741

Investment securities

159,500

152,217

OthersAllowance for doubtful accounts

53,207(462)

53,687(468)

Total investments and other assets
Total noncurrent assets

212,245

205,436

811,796814,671

1,873,536

1,868,123

Notes receivables, trade

Noncurrent assets
Property, plant and equipment

Total property, plant and equipment
Intangible assets
Investments and other assets

Total assets

5

(Millions of yen)March 31, 2023

June 30, 2023

Liabilities
Current liabilities
Notes and accounts payables, trade
Accrued income taxes
Warranty reserves
Other current liabilities
Total current liabilities
Long-term liabilities
Net defined benefit liability
Other long-term liabilities
Total long-term liabilities
Total liabilities

56,93525,73653,52814,472

11,222
90,062

11,612
83,821

183,955

163,433

55,20155,788

6,825

8,227

62,02664,015245,981

227,448

69,01469,01496,265
1,515,662

95,995
1,474,490(130,206)(115,330)

1,550,735

1,524,169

13,71816,009Net assets
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Treasury stock, at cost
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeNon-controlling interests
Total net assets
Total liabilities and net assets

6

67,937

105,449(17,014)(16,235)

64,641

105,223

12,17911,283

1,627,555

1,640,675

1,873,536

1,868,123

(2) Consolidated Quarterly Statement of Income andConsolidated Quarterly Statement of Comprehensive Income
Consolidated Quarterly Statement of Income
1st quarter (cumulative)(Millions of yen)Three months ended
June 30, 2022
(cumulative)

Three months ended
June 30, 2023
(cumulative)

Net sales
Cost of goods sold211,563
129,643

201,771
136,058

Gross profit

81,92065,713

Selling, general and administrative expenses

32,163

33,119Operating income

49,75732,594

806
265

969
273

Equity in earnings of affiliates
Miscellaneous income

7,790
1,248

6,684
1,868

Total non-operating income

10,109

9,794

154

339

2

175

Non-operating income
Interest income
Dividends income

Non-operating expenses
Removal expenses of noncurrent assets
Loss on sales and retirement of noncurrent
assetsMiscellaneous expenses

172

199

328

713

Ordinary income

59,53841,675

Income before income taxes

59,53841,675

Income taxes-current
Income taxes-deferred

15,308
1,118

11,749(987)

Total taxes and others

16,426

10,762

Net income

43,11230,913990

589

42,12230,324

Total non-operating expenses

Net income attributable to non-controlling interests
Net income attributable to owners of parent

7

Consolidated Quarterly Statement of Comprehensive Income(Millions of yen)Three months ended
June 30, 2022
(cumulative)
43,112Three months ended
June 30, 2023
(cumulative)
30,913(1,206)2,291

Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share of other comprehensive income of affiliates
accounted for using equity method

35,275(6)

35,955
779

7,568

2,066

Total other comprehensive income
Comprehensive income for the three months ended
June 30

41,631

41,09184,74372,004

83,0501,693

70,906
1,098

Net income
Other comprehensive income
Valuation difference on available-for-salesecurities

Comprehensive income attributable to:
Owners of parent
Non-controlling interests83. Other Information(1) Changes in Significant Subsidiaries during the three months ended June 30, 2023
(changes in specific subsidiaries that caused change in scope of consolidation): None
(2) Adoption of Simplified and Specifically Applied Accounting Method for Quarterly
Consolidated Financial Reporting:None(3) Changes in Accounting Principles and Accounting Estimates, and Revisions/Restatements(Change in accounting principles)(Change in inventory valuation method)
The Company previously valued materials included in "Raw materials and supplies" using thelast purchase cost method, but changed to the weighted average cost method from this firstquarter period.
The purpose of this change is to calculate periodic profit/loss and inventory valuation more
appropriately, triggered by soaring material prices and increased inventory levels.
It is not feasible to determine the cumulative effect of the retrospective application of theweighted average cost method due to the unavailability of some payment and receipt records
required for calculation using the weighted average cost method for the previous fiscal year.
Therefore, the cumulative effect of the retrospective application of the weighted average cost
method is reflected in the beginning balance of this first quarter period, based on the difference
between the carrying amount of inventories at the beginning of this first quarter period under
the weighted average cost method and the carrying amount at the end of the previous fiscal
year.
As a result, retained earnings at the beginning of this first quarter period decreased by ¥2,945
million. The impact of this change on cost of goods sold, every category of profit or loss andper share information for this first quarter period is immaterial.
(4) Note on Premise of a Going Concern:

None(5) Note on the Substantial Change in Shareholders’ Equity:
The Company cancelled 6,472,996 treasury shares based on the resolution of the Board of
Directors meeting held on April 26, 2023. As a result, treasury stocks of the Company, including
the decrease due to the sale of odd-lot shares, decreased by ¥14,876 million during the threemonths ended June 30, 2023, resulting in treasury stocks of ¥115,330 million as of June 30, 2023.

9