Makita Corporation
Consolidated Financial Results
for the nine months
ended December 31, 2019
(IFRS Financial Information)(English translation of "KESSAN TANSHIN"
originally issued in Japanese)

CONSOLIDATED FINANCIAL RESULTS
FOR THE NINE MONTHS ENDED DECEMBER 31, 2019 (Unaudited)
January 30, 2020

Makita Corporation
Stock code: 6586
URL: http://www.makita.biz/
Munetoshi Goto, President, Representative Director

1. Summary operating results of the nine months ended December 31, 2019 (From April 1, 2019 to December 31,
2019)(1) CONSOLIDATED OPERATING RESULTS
Yen (millions)
For the nine months ended
For the nine months ended
December 31, 2018
December 31, 2019%%
Revenue ................................................................
366,952
3.3
373,261
1.7
Operating profit ....................................................
60,0701.9
50,906(15.3)
Profit before income taxes ....................................
61,9503.2
53,246(14.1)
Profit .....................................................................
43,4404.2
38,821(10.6)
Profit attributable to owners of the parent ............
43,151
4.4
38,569(10.6)
Comprehensive income ........................................
20,982(68.5)
30,80946.8
Yen
Profit attributable to
Owners of the parent per share(Basic)...............................................................
158.95142.06(Diluted) ...........................................................
158.93
Notes:
1. Amounts of less than one million yen have been rounded.
2. The table above shows the changes in the percentage ratio of revenue, operating profit, profit before income taxes,
profit attributable to owners of the parent, and comprehensive income against the corresponding period of theprevious year.
3. Information on profit attributable to owners of the parent per share after full dilution is omitted, since there is no potential
common stock.

(2) SELECTED CONSOLIDATED FINANCIAL POSITION

Total assets ............................................................
Total equity ...........................................................
Equity attributable to owners of the parent ...........
Ratio of equity attributable to owners of theparent to total assets (%) .......................................

Yen (millions)
As of March 31, 2019
As of December 31, 2019
680,250
701,881577,222591,133
572,748586,625
83.6%

84.2%

2. Dividend Information
Yen
For the year ended
March 31, 2019

For the year ending
March 31, 2020
(Forecast)

Cash dividend per share:
Interim .................................................................
10.00
10.00
Year-end ..............................................................
52.00(Note)
Total ....................................................................
62.00(Note)
Notes:
1. The forecast for cash dividend announced on April 26, 2019 has not been revised.
2. The projected amount of dividends for the year ending March 31, 2020 has not been determined yet. For further
details, refer to “Explanation regarding proper use of business forecast, and other significant matters” on page 2.

English translation of "KESSAN TANSHIN" originally issued in Japanese

13. Consolidated Financial Performance Forecast for the year ending March 31, 2020 (From April 1, 2019 toMarch 31, 2020)
Yen (millions)
For the year ending March 31, 2020%
Revenue ...................................................................................................
480,000(2.2)
63,000(19.5)
Operating profit .......................................................................................
63,000(21.2)
Profit before income taxes .......................................................................
44,000(21.1)
Profit attributable to owners of the parent ...............................................
Yen
Profit attributable to
Owners of the parent per share ................................................................
162.05
Notes:
1. The consolidated financial forecast for the year ending March 31, 2020 has not been revised.
2. The table above shows the changes in the percentage ratio of revenue, operating profit, profit before income
taxes and profit attributable to owners of the parent against the previous year.
4. Other(1) Changes in important subsidiaries during the period (Changes in specified subsidiaries accompanied by changes inscope of consolidation during the quarter): None
(2) Changes in accounting policies and accounting estimates:
1. Changes in accounting policies required by IFRS: Yes
2. Changes in accounting policies other than 1: None
3. Changes in accounting estimate: None
(3) Number of shares outstanding (common stock)
1. Number of shares issued (including treasury stock):
2. Number of treasury stock:
3. Average number of shares outstanding:

As of December 31, 2019:
As of March 31, 2019:
As of December 31, 2019:
As of March 31, 2019:
For the nine months ended
December 31, 2019:
For the nine months ended
December 31, 2018:

280,017,520
280,017,520
8,500,293
8,550,463
271,497,673
271,467,689

This consolidated financial report is not subject to audit procedures by certified public accountants or an auditing firm.
Explanation regarding proper use of business forecasts, and other significant matters
1. The financial forecast given above is based on information as available at the present time, and includes potential
risks and uncertainties. As a consequence of the factors above and other, actual results may vary from the forecasts
provided above. Regarding the assumptions for the forecasts and other matters, refer to [Qualitative Information and
Financial Statements] Section 3 “Explanation of Information Relevant to Forecast such as Consolidated Financial
Performance Forecast” on page 4.
2. Makita's basic policy on the distribution of profits is to maintain a consolidated dividend payout ratio of 30% or greater,
with a lower limit on annual cash dividends of 10 yen per share. However, in the event special circumstances arise,computation of the amount of dividends will be based on profit attributable to owners of the parent after certain
adjustments.
The Board of Directors plans to meet in April 2020 for a report on earnings for the year ending March 31, 2020. At thetime, in accordance with the basic policy regarding profit distribution mentioned above, the Board of Directors plans topropose a dividend equivalent to at least 30% of profit attributable to owners of the parent. The Board of Directors willsubmit this proposal to the General Meeting of Shareholders scheduled for June 2020.
The consolidated dividend payout ratio is calculated as annual dividends per share divided by consolidated profit
attributable to owners of the parent per share (after adjustments for special circumstances) and multiplied by 100.

English translation of "KESSAN TANSHIN" originally issued in Japanese

2[Qualitative Information and Financial Statements]
1. Explanation of Consolidated Operating Results
Looking at the global economic situation during the first nine-month period of the year ending March 31, 2020, theeconomy showed growing signs of a slowdown while business sentiment worsened due to rising uncertainties,
including the trade friction between the U.S. and China, developments over Brexit, and the tense situation in the Middle
East.
Our consolidated revenue for this period increased by 1.7% to 373,261 million yen compared to the same period of
the previous year due to robust sales primarily in Japan, despite a decrease in the value of overseas revenue whentranslated into yen. Operating profit decreased by 15.3% to 50,906 million yen (operating profit ratio: 13.6%) owing to
the increase in selling, general and administrative expenses and the deterioration of the cost-of-sales ratio caused by
impact of the exchange rate. Profit before income taxes decreased by 14.1% to 53,246 million yen (profit before income
taxes ratio: 14.3%) and profit attributable to owners of the parent decreased by 10.6% to 38,569 million yen (ratio of
profit attributable to owners of the parent: 10.3%).
Revenue results by region were as follows:
Revenue in Japan increased by 11.7% to 75,026 million yen compared to the same period of the previous year. Thiswas due to steady demand for highly efficient cordless tools, supported by a shortage of labor at building andconstruction sites, and robust sales of cordless gardening equipment.
Revenue in Europe increased by 3.1% to 163,068 million yen, supported by solid demand for tools in almost all areasand steady sales of cordless gardening equipment, despite a decrease in the value of revenue caused by the appreciationof the yen against the euro.
Revenue in North America decreased by 2.0% to 55,903 million yen despite our efforts to expand sales of lithium-ion
battery products including gardening equipment amid intensifying competition in the U.S.
Revenue in Asia increased by 0.2% to 30,401 million yen. This was due to steady sales in India and other countries,
despite the impact of an economic slowdown in China.
Revenue in Central and South America decreased by 5.7% to 20,029 million yen since the economies of majorcountries slowed and the yen remained stronger against local currencies, despite our efforts to expand sales, principallylithium-ion battery products.
Revenue in Oceania decreased by 5.1% to 21,695 million yen due to the impact of a sluggish housing market inAustralia.
Revenue in the Middle East and Africa decreased by 29.9% to 7,139 million yen. This was because of thecontinuing turmoil in the Middle East, resulting in poor sales.
2. Explanation of Consolidated Financial Position
Total assets as of December 31, 2019 increased by 21,631 million yen to 701,881 million yen compared to thebalance as of March 31, 2019. This increase was mainly due to the rise in “Property, plant and equipment” caused by
the increase in right-of-use assets following the adoption of IFRS 16 “Lease” from the first three-month period of theyear ending March 31, 2020. (Please refer to (5) Notes to Consolidated Financial Statements on page 9.)
Total liabilities increased by 7,720 million yen to 110,748 million yen compared to the balance as of March 31,
2019. This increase was mainly due to the rise in “Other financial liabilities” following the adoption of IFRS 16“Lease” from the first three-month period of the year ending March 31, 2020. (Please refer to (5) Notes to Consolidated
Financial Statements on page 9.)
Total equity increased by 13,911 million yen to 591,133 million yen compared to the balance as of March 31, 2019.
This increase was mainly due to the rise in “Retained earnings”.

English translation of "KESSAN TANSHIN" originally issued in Japanese33. Explanation of Information Relevant to Forecast such as Consolidated Financial Performance Forecast
There are uncertainties about the business environments surrounding the Group and developments in exchange
markets. Therefore, Makita has not reviewed the forecast of its consolidated financial performance for the year ending
March 31, 2020 announced on October 30, 2019.
[Condensed Consolidated Financial Statements (Unaudited)](1) Condensed Consolidated Statement of Financial Position
Yen (millions)
As of December 31,
As of March 31, 20192019
Composition ratio

Composition ratio

ASSETS
CURRENT ASSETS:
Cash and cash equivalents .........................

146,512141,358

Trade receivables and other receivables.....

79,45069,176Inventories .................................................

219,938

231,136

Other financial assets .................................

37,82831,048Other current assets ....................................

9,401

9,293

Total current assets .................................

493,12972.5%

482,011

68.7%

NON-CURRENT ASSETS:
Property, plant and equipment, at cost .......

112,441

141,579

Goodwill and intangible assets ..................

8,039

8,721

Other financial assets .................................

43,56648,055

Not defined benefit asset ............................

9,541

9,288

Deferred income taxes ...............................

9,342

7,836

Other non-current assets ............................

4,192

4,391

Total non-current assets ..........................

187,12127.5%

219,870

31.3%

Total assets........................................................

680,250

100.0%

701,881100.0%English translation of "KESSAN TANSHIN" originally issued in Japanese

4Yen (millions)
As of December 31,
As of March 31, 20192019
Composition ratio

Composition ratio

LIABILITIES AND EQUITY
LIABILITIESCURRENT LIABILITIES:
Trade payables and other payables ............

38,90442,750Borrowings ................................................

11,7999,295

Other financial liabilities............................

220

2,586

Income taxes payable .................................

7,153

3,082

Provisions ..................................................

3,040

3,047

Other liabilities ...........................................

29,67828,141

Total current liabilities ............................

90,794

13.3%

88,901

12.7%

NON-CURRENT LIABILITIES:
Retirement benefit liabilities ........................

3,231

3,181

Other financial liabilities............................

256

8,906

Provisions ..................................................

1,293

1,325

Deferred income taxes ...............................

7,236

8,224

Other non-current liabilities .......................

218

211

Total non-current liabilities .....................

12,234

1.8%

21,847

3.1%

Total liabilities ..................................................

103,02815.1%

110,748

15.8%

EQUITY
Common stock ...........................................

23,80523,805Additional paid-in capital ..........................

45,571

45,521Retained earnings .......................................

508,622

530,703

Treasury stock, at cost................................

(11,681)(11,553)

Other components of equity .......................

6,431(1,851)

Total equity attributable to owners of the parent

572,748

84.2%

586,625

83.6%

NON-CONTROLLING INTEREST ................

4,474

0.7%

4,508

0.6%

Total equity .......................................................

577,22284.9%

591,133

84.2%

Total liabilities and equity ................................

680,250

100.0%

701,881100.0%English translation of "KESSAN TANSHIN" originally issued in Japanese5(2) Condensed Consolidated Statements of Profit or Loss and Consolidated Statements of Comprehensive
IncomeCondensed Consolidated Statements of Profit or Loss
Yen (millions)
For the nine months
For the nine months
ended December 31,
ended December 31,
2019
2018
Composition ratio

Composition ratio

REVENUE...............................................................................

366,952 100.0%

373,261 100.0%

Cost of sales .............................................................................

(231,772) (63.2%)(244,608) (65.5%)

GROSS PROFIT......................................................................

135,180

128,653

Selling, general, administrative and others, net .......................

(75,110) (20.4%)(77,747) (20.9%)

OPERATING PROFIT ............................................................

60,07050,906

Financial income......................................................................

2,146

2,670

Financial expenses ...................................................................

(266)

(330)

PROFIT BEFORE INCOME TAXES .....................................

61,950

Income tax expenses ................................................................

(18,510)PROFIT ...................................................................................

43,44011.8%

38,821

10.4%

Owners of the parent................................................................

43,151

11.7%

38,56910.3%

Non-controlling interests .........................................................

289

0.1%

252

0.1%

36.8%
16.4%

16.9%

34.5%
13.6%

53,24614.3%(14,425)

Profit attributable to:Condensed Consolidated Statements of Comprehensive Income
Yen (millions)
For the nine months
For the nine months
ended December 31,
ended December 31,
2019
2018
43,44038,821through other comprehensive income (loss) ............................

(9,430)2,838

Total of items that will not be reclassified to income (loss).........

(9,430)

2,838

Exchange differences on translating foreign operations ..........

(13,028)(10,850)

Total of items that may be reclassified to loss .............................

(13,028)(10,850)

Total other comprehensive loss, net of tax ...................................

(22,458)(8,012)COMPREHENSIVE INCOME ...................................................

20,98230,809Owners of the parent ................................................................

20,76430,630Non-controlling interests .........................................................

218

179

INCOME .....................................................................................
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX

Items that will not be reclassified to income (loss)
Equity financial goods measured at fair value

Items that may be reclassified to loss

Comprehensive income attributable to:English translation of "KESSAN TANSHIN" originally issued in Japanese6(3) Condensed Consolidated Statement of Changes in Equity
Yen (millions)
For the nine months ended December 31, 2018
Equity attributable to owners of the parent

Balance at April 1, 2018

Commonstock

Additional
paid-in
capital23,80545,531Retainedearnings

Profit for the period

Other
componentsof equity

Treasurystock

469,232(11,617)

27,095--Comprehensive income
Dividends paid

43,151-

Disposal of treasury stock0

Share-based paymenttransaction

30

Transfer from othercomponents of equity toretained earnings

Total
equity4,393

558,439

43,151289

43,440(22,387)(22,387)(71)(22,458)(22,387)

20,764218

20,982(16,560)(225)(16,785)(16,560)

Purchase of treasury stock

Total

554,046

43,151Other comprehensive income

NonControllinginterest

(2)

(2)

(2)

0

0

0

30

30

(286)

-

-

286

Total amounts of transactions
with owners-

30(16,274)

(2)

(286)

(16,532)(225)(16,757)

Balance at December 31, 2018

23,80545,561

496,109(11,619)

4,422

558,278

4,386

562,664

Yen (millions)
For the nine months ended December 31, 2019
Equity attributable to owners of the parent

Balance at April 1, 2019

Commonstock

Additional
paid-in
capital23,80545,571Retainedearnings

Profit for the period

Other
componentsof equity

Treasurystock

508,622(11,681)--

Dividends paid

38,569-Total
equity4,474

577,222

38,569252

38,821(7,939)(7,939)(73)(8,012)(7,939)30,630179

30,809(16,831)(145)(16,976)(16,831)

Purchase of treasury stockTotal

572,748

38,569Other comprehensive income
Comprehensive income

6,431

NonControllinginterest

(1)

(1)

(1)

Disposal of treasury stock

(13)

61

48

48

Share-based paymenttransaction

(37)

68

31

31

(343)

-

-

Transfer from othercomponents of equity toretained earnings

343

Total amounts of transactions
with owners

-

(50)

(16,488)

128

(343)

(16,753)(145)(16,898)

Balance at December 31, 2019

23,80545,521

530,703(11,553)(1,851)

586,625

4,508

591,133

English translation of "KESSAN TANSHIN" originally issued in Japanese7(4) Condensed Consolidated Statements of Cash Flows
Yen (millions)
For the nine months
For the nine months
ended December 31,
ended December 31,
2019
2018
CASH FLOWS FROM OPERATING ACTIVITIES:Profit ....................................................................................................

43,44038,821

Depreciation and amortization .............................................................

8,370

10,561

Income tax expenses ............................................................................

18,51014,425

Financial income and expenses............................................................

(1,880)(2,340)Loss (gain) on sales and retirement of property, plant and equipment

137

(972)

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

5,996

7,904

Decrease (increase) in inventories .......................................................

(26,149)(15,052)

Increase (decrease) in trade payables and other payables ....................

(55)

6,513

Increase in retirement benefit assets and liabilities ..............................

198

238

Decrease (increase) in guarantee deposits ...........................................

(8,991)(530)

Other ....................................................................................................

(4,652)

1,839

Subtotal ..........................................................................................

34,924

61,407

Dividends received ..............................................................................

627

698

Interest received ...................................................................................

1,519

1,171

Interest paid .........................................................................................

(37)

(330)

Income taxes paid ................................................................................

(22,119)(18,081)

Cash flows from operating activities .............................................

14,91444,865Purchase of non-current assets .............................................................

(17,451)(33,128)

Proceeds from sales of non-current assets ...........................................

328

2,559

Purchase of investments ......................................................................

(15,205)(2,797)

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sales and redemption of investments ..............................

2,424

3,878

Payments into time deposits ................................................................

(18,931)(28,781)

Proceeds from withdrawal of time deposits .........................................

35,26933,498Other ....................................................................................................

(94)

345

Cash flows from investing activities ..............................................

(13,660)(24,426)

CASH FLOWS FROM FINANCING ACTIVITIES:Net increase (decrease) in short-term borrowings ...............................

3,189(2,329)Purchase and sales of treasury stock, net .............................................

(2)

47

Cash dividends paid .............................................................................

(16,560)(16,831)

Repayments of lease obligations..........................................................

(22)(1,743)

Other ....................................................................................................

(238)

(143)

Cash flows from financing activities .............................................

(13,633)(20,999)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND
CASH EQUIVALENTS ......................................................................

(1,088)(4,594)NET CHANGE IN CASH AND CASH EQUIVALENTS .................

(13,467)(5,154)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD ...

147,320

146,512

CASH AND CASH EQUIVALENTS, END OF PERIOD .................

133,853

141,358

English translation of "KESSAN TANSHIN" originally issued in Japanese8(5) Notes to Consolidated Financial Statements
Notes on the assumptions for a going concern: None
Changes in accounting policies:
The Makita Group has adopted IFRS 16 “Lease” (“IFRS 16”) from the first three-month period of the year ending
March 31, 2020.
In accordance with IFRS 16, the Group has recorded leases that had been classified as operating leases under IAS
17 ”Lease” as right-of-use assets and lease liabilities in the consolidated statement of financial position.
On transition to IFRS 16, the Group has chosen to apply the practical expedient that allows the Group to continue
using the same method as before with regard to whether contracts are leases or not.
In line with the transition provision in IFRS 16, the Group has adopted the modified retrospective approach (amethod to recognize the cumulative effects of adopting IFRS 16 at the date of adoption) at the date of transition.
At the first date of the first three-month period of the year ending March 31, 2020 (“the date of initial application”),
the Group additionally recognized total assets including right-of-use assets (which were included in property, plant andequipment in the consolidated statement of financial position) of 10,656 million yen and lease liabilities of 10,656
million yen (which were included in other financial liabilities).
The Group measured the lease liabilities at the date of initial application at the present value of aggregate residual
lease payments at the inception of adoption, discounted using the lessee’s incremental borrowing rate of interest at the
inception of adoption. As of the date of initial application, the weighted average of the incremental borrowing rate was
2.5%.
On transition to IFRS 16, The Group has adopted the following practical expedients:
・Applying a single discount rate to a portfolio of leases with reasonably similar characteristics.
・Applying the exemption on not recognizing right-of-use assets or lease liabilities for leases for which the lease term
ends within 12 months of the date of initial application.
Condensed Operating Segment Information
Yen (millions)
For the nine months ended December 31, 2018
North
ElimiAsia
Total
Other
Americanations

Consolidated

Japan

EuropeInter-segment ............

81,554
164,598

158,651
4,371

58,7083,123

20,362
165,246

319,275
337,338

47,677664(338,002)

366,952-

Total ................

246,152

163,02261,831

185,608

656,613

48,341(338,002)

366,952

Operating profit ............

24,133

15,033

1,433

18,34058,9392,482(1,351)60,070Yen (millions)
For the nine months ended December 31, 2019
North
ElimiAsia
Total
Other
Americanations

Consolidated

Revenue:
Externalcustomers ..................

Japan

EuropeInter-segment ............

89,114
141,960

163,741
4,888

57,2503,069

19,375
153,045

329,480
302,962

43,781
409(303,371)

373,261-

Total ................

231,074

168,629

60,319172,420

632,442

44,190(303,371)

373,261

Operating profit (loss)...

18,337

10,879(1,556)

15,93943,599934

6,373

50,906

Revenue:
Externalcustomers ..................

English translation of "KESSAN TANSHIN" originally issued in Japanese

9

SUPPORT DOCUMENTATION (CONSOLIDATED)
1. Consolidated Financial Results and Forecast
Yen (millions)
For the nine months
For the nine months
ended December 31,
ended December 31,
2019
2018
Revenue .....................................................................................................
Domestic ...............................................................................................
Overseas ................................................................................................
Operating profit .........................................................................................
Profit before income taxes .........................................................................
Profit attributable to owners of the parent .................................................
Profit attributable to owners of the parent per share (Yen) .......................
Cash dividend per share (Yen) ...................................................................

(%)

(%)

366,952
3.3
67,170 10.8
299,782
1.8
60,0701.9
61,9503.2
43,151
4.4
158.95
16,469373,261
1.7
75,026
11.7
298,235(0.5)
50,906 (15.3)
53,246 (14.1)
38,569 (10.6)
142.06
17,157

Yen (millions)
For the year ending
For the year ended
March 31, 2020
March 31, 2019
(Forecast)
(%)

(%)

Revenue ...............................................................................................
490,5782.8
480,000 (2.2)
92,12911.6
100,000 8.5
Domestic .........................................................................................
Overseas ..........................................................................................
398,4490.9
380,000 (4.6)
Operating profit ...................................................................................
78,305(2.4)
63,000 (19.5)
79,9190.1
63,000 (21.2)
Profit before income taxes ...................................................................
Profit attributable to owners of the parent ...........................................
55,7501.5
44,000 (21.1)
205.37162.05
Profit attributable to owners of the parent per share (Yen) ...............
16,424
Number of Employees ........................................................................
Notes:
1. Please refer to [Qualitative Information and Financial Statements] Section 3 “Explanation of Information
Relevant to Forecast such as Consolidated Financial Performance Forecast” on page 4.
2. The table above shows the changes in the percentage ratio of revenue, operating profit, profit before income
taxes, and profit attributable to owners of the parent compared to the corresponding period of the previous year.

English translation of "KESSAN TANSHIN" originally issued in Japanese102. Consolidated Revenue by Geographic Area
For the nine months
ended December 31,
2018

Yen (millions)
For the nine months
ended December 31,
2019

(%)

(%)

For the year ended
March 31, 2019(%)

Japan ................................................................
67,17010.8
75,026
11.7
92,12911.6
163,068
3.1
213,238
5.5
Europe..............................................................
158,128
6.1
North America .................................................
57,0190.4
55,903(2.0)
72,508(1.8)
Asia ..................................................................
30,334(8.9)
30,401
0.2
40,909(7.2)
20,029(5.7)
27,801(0.4)
Central and South America ..............................
21,2480.1
Oceania ............................................................
22,871(2.8)
21,695(5.1)
30,222(3.4)
The Middle East and Africa .............................
10,182(4.6)
7,139 (29.9)
13,771 (11.1)
373,2611.7
490,578
2.8
Total .................................................................
366,952
3.3
Notes:
1. The table above sets forth Makita's consolidated revenue by geographic area based on the customer’s location
for the periods presented. Accordingly, it differs from “Condensed Operating Segment Information” on page 9.
2. The table above shows the changes in the percentage ratio of revenue compared to the corresponding period of
the previous year.
3. Exchange Rates
Yen
For the ninemonths ended
December 31,
2018

For the ninemonths ended
December 31,
2019

111.14129.4716.60

108.65121.0415.60

110.92
128.44
16.54

For the nine months
ended December
31, 2018

For the nine months
ended December
31, 2019

Composition ratio

Composition ratio

USD/JPY ................................................
EUR/JPY ................................................
RMB/JPY ...............................................

For the year
ended March 31,
2019

For the year
ending March
31, 2020(Forecast)
107
118
15.2

4. Production Ratio (unit basis)

Domestic .....................................................................
Overseas .....................................................................

9.5%
90.5%

10.5%
89.5%

5. Consolidated Capital Expenditures, Depreciation and Amortization, and R&D cost
Yen (millions)
For the nine
For the nine
For the year
months ended
months ended
ended
December 31,
December 31, 2019
March 31, 20192018
Capital expenditures ..................
Depreciation and amortization ...
R&D cost ...................................

17,451
8,370
8,265

33,1288,937
8,484

English translation of "KESSAN TANSHIN" originally issued in Japanese

23,867
11,271
11,258For the year
ended
March 31, 2019
Composition ratio

9.5%
90.5%

For the year
endingMarch 31, 2020
(Forecast)
44,00012,80012,00011