Summary of Consolidated Financial Statements for the Six Months Ended June 30, 2024
(Japanese GAAP)[Note : This document has been translated from a part of the Japanese original for reference purposes only. In the eventof any discrepancy between this translated document and the Japanese original, the original shall prevail.]August 8, 2024
Company name HORIBA, Ltd.
Listed stock exchanges: Tokyo
Listing code
6856
URL: https://www.horiba.com/int/
Representative Masayuki Adachi, President & COO
TEL: (81)75-313-8121
Contact
Toyota Uenaka, Department Manager, Finance and Accounting Dept.
Scheduled date of start of interim dividend payment: September 2, 2024
(Figures have been rounded down to the nearest million yen)

1. Consolidated Results for the Six Months Ended June 30, 2024 (January 1, 2024 - June 30, 2024)(Percentages represent changes from the corresponding in the previous year)(1) Consolidated Operating Results
Net Income Attributable
Net Sales
Operating Income
Ordinary Income
to HORIBA Ltd.'s
Shareholders
Millions of yen
Millions of yen% Millions of yen% Millions of yen%%
Six Months Ended 6/30/24
142,720
8.9
18,615
4.4
19,266
6.3
13,148 -30.8
Six Months Ended 6/30/23
131,105 14.0
17,8389.7
18,1248.0
19,006 69.1
(Note) Comprehensive income: FY2024Q2 33,754 million yen ( 1.1%)
FY2023Q2 33,392 million yen (38.0%)

Six Months Ended 6/30/24
Six Months Ended 6/30/23

Net Income Attributable
Net Income Attributable
to HORIBA Ltd.'s Shareholders
to HORIBA Ltd.'s Shareholders
per Shareper Share(Diluted)
Yen
Yen
312.43310.83449.87447.66(2) Consolidated Financial Position
Total Assets

Shareholders'Equity Ratio

Net Assets

Millions of yen
Millions of yen%
As of 6/30/24
469,349
303,78064.6
449,030
283,732
63.0
As of 12/31/23(Reference) Net assets excluding subscription rights to shares and non-controlling interests:
As of 6/30/24
303,089 million yen
As of 12/31/23 283,008 million yen
2. Dividends
Dividend per Share
SecondThird
Year End
Quarter
Quarter
Yen
Yen
Yen
80.00
FY 12/2023
210.00FY 12/2024
80.00
FY 12/2024 (Forecast)185.00(Note) Changes in the latest dividend forecasts released: NoneFirst
Quarter
Yen
-

Total
Yen
290.00265.003. Consolidated Forecasts for the Year Ending December 31, 2024 (January 1, 2024 - December 31, 2024)(Percentages represent changes from the previous fiscal year)

Net Sales

Operating Income

Ordinary Income

Millions of yen% Millions of yen% Millions of yen
Full Year
321,000 10.5
52,0009.9
52,700(Note) Changes in the latest business forecasts released: None

1

%
9.2

Net Income Attributable
to HORIBA Ltd.'s
Shareholders
per Share
%
Yen
-8.2
881.95Net Income Attributable
to HORIBA Ltd.'s
Shareholders
Millions of yen

37,000HORIBA, Ltd. (Consolidated)

Notes(1) Changes in significant subsidiaries during the period(Changes in specified subsidiaries that caused a change in the scope of consolidation): None
(2) Application of the accounting method specific to interim consolidated financial statements: Yes(3) Changes in accounting policies, accounting estimates and retrospective restatement(ⅰ) Changes in accounting policies associated with revision of accounting standards: None(ⅱ) Changes in accounting policies arising from other than the above: None(ⅲ) Changes in accounting estimates: None(ⅳ) Retrospective restatement: None
(4) Number of shares outstanding (common stock)
42,233,252

December 31, 2023

42,532,752(ⅱ) Treasury stock

June 30, 2024

280,649

December 31, 2023

263,029(ⅲ) Average number of outstanding sharesJan. - Jun., 2024

42,085,539

Jan. - Jun., 2023

42,247,766(ⅰ) Shares issued (including treasury stock) June 30, 2024

Note 1. This consolidated financial report is not subject to review by certified public accountants or accounting firms.
Note 2. Appropriate use of business forecasts and other important information
The forecasts of dividend amount and business performance contained in this report have been made based on
certain future assumptions, outlooks, and plans which are available at the HORIBA Group as of August 8, 2024.
However, due to risks and various uncertain factors such as future business operation policies, changes in theeconomic environment in Japan and overseas, fluctuation of currency rates, it is possible that actual performance
would vary considerably from the forecasts.

2

HORIBA, Ltd. (Consolidated)1. Qualitative Information Concerning Consolidated Results(1) Information Concerning Consolidated Operating Results(For details, see pages 12-14, “3. Supplemental Information - HORIBA, Ltd. Financial Highlights for the Six Months
Ended June 30, 2024”)

During the six months ended June 30, 2024, HORIBA, Ltd. (hereinafter the Company) and its consolidated subsidiaries(hereinafter the HORIBA Group or HORIBA) increased sales by 8.9% year-on-year to 142,720 million yen. Sales growth
was mainly due to the depreciation of the yen against the euro and dollar, which boosted sales when translated into yen,
and an increase in sales in the Automotive segment. Operating income increased by 4.4% to 18,615 million yen andordinary income increased by 6.3% to 19,266 million yen.
Net income attributable to HORIBA Ltd.'s shareholders decreased by 30.8% to 13,148 million yen, mainly due toextraordinary gain on the sale of shares of subsidiaries of 6,297 million yen recognized in the first six months of FY2023.
The operating results of each business segment are summarized as follows.
(Automotive Segment)
Mainly due to an increase in sales of emission measurement systems and MCT(Mechatronics) business in Japan and
the Americas, segment sales increased by 26.4% year-on-year to 38,620 million yen. On the profit side, continuous
investments in the hydrogen related field resulted in an operating loss of 1,169 million yen, while in the first six months
of FY2023 an operating loss was 2,159 million yen.
(Process & Environmental Segment)
Despite the sales of air pollution analyzers were sluggish in Europe, an increase in sales of process gas analyzers
and water quality systems in Japan contributed to boosting segment sales by 3.3% year-on-year to 11,709 million yen.
Operating income decreased by 82.3% to 162 million yen due to a decrease in sales in Europe and the investment
burden associated with the set-up in the industrial process monitoring business, which the Company acquired in the
fourth quarter of FY2023.
(Medical-Diagnostics Segment)
Segment sales increased by 4.9% year-on-year to 16,350 million yen, as the depreciation of the yen. On the profit
side, partly due to a decrease in sales in Japan resulted in an operating loss of 456 million yen, while in the first six
months of FY2023 an operating income was 178 million yen.
(Semiconductor Segment)
Capital expenditures of semiconductor manufacturers have shown a certain level of recovery. Segment sales
increased by 1.8% year-on-year to 57,256 million yen thanks to an increase in sales to semiconductor production
equipment manufacturers in Asia. Operating income increased by 8.4% to 20,254 million yen due to the depreciationof the yen and an increase in sales in Asia.
(Scientific Segment)
Mainly due to an increase in sales of Raman spectrometers for analysis of advanced materials in Asia and Europe,
segment sales increased by 7.9% year-on-year to 18,783 million yen. However, the segment recorded an operating
loss of 174 million yen, while it was an operating income of 213 million yen in the first six months of FY2023, due to achange in the product sales mix and an increase in R&D expenses to accelerate the development of new products.

3

HORIBA, Ltd. (Consolidated)(2) Information Concerning Consolidated Earnings Forecasts for FY2024
Our assumption for the exchange rate remains unchanged at 145 yen to the US dollar and 160 yen to the euro, given
uncertainty about the future exchange rates.
Consolidated forecasts of FY2024 (Full year)
Amount: Millions of yen
Previous Forecasts(As of May 14)

Revised Forecasts(As of Aug. 8)

Changes

Net Sales

321,000

321,000-

Operating Income

52,00052,000-Ordinary Income

52,70052,700-Net Income Attributable
to HORIBA Ltd.'s
Shareholders

37,00037,000-Consolidated forecasts of FY2024 by segment (Full year)
Net Sales
Previous
Forecasts(As of May
14)
Automotive

Amount: Millions of yen
Revised
Forecasts
Changes(As of Aug.
8)

94,00094,000-31,50031,500-34,50034,500-

Semiconductor

119,000

119,000-

Scientific42,00042,000

Total

321,000

321,000

Process&
Environmental
MedicalDiagnostics

Operating Income
Previous
Forecasts(As of May
14)
Automotive

Amount: Millions of yen
Revised
Forecasts
Changes(As of Aug.
8)

3,000

3,000

-

3,000

2,500

-500

1,000

500

-500

Semiconductor

42,00043,500+1,500-Scientific

3,000

2,500

-500

-

Total

52,00052,000-

Process&
Environmental
MedicalDiagnostics

Overall sales forecasts remain unchanged for all segments. Regarding operating income forecasts, the Company has
revised upward by 1,500 million yen for the Semiconductor segment, and downward by 500 million yen respectively, for
the Process & Environmental segment, the Medical-Diagnostics segment and the Scientific segment, considering theconsolidated results for the first half of FY2024.
As a result, the overall sales forecast, the operating income forecast, the ordinary income forecast and the net income
attributable to HORIBA Ltd.'s shareholders forecast remain unchanged.
The dividend forecast for the current fiscal year remains unchanged.
Cautionary statement with respect to earnings forecasts
The forecasts of dividend amount and business performance contained in this report have been made based on certain
future assumptions, outlooks, and plans which are available at the HORIBA Group as of August 8, 2024. However, due
to risks and various uncertain factors such as future business operation policies, changes in the economic environment
in Japan and overseas, fluctuation of currency rates, it is possible that actual performance would vary considerably fromthe forecasts.

4

HORIBA, Ltd. (Consolidated)2. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets
Amount: Millions of yen
FY2023(As of December 31, 2023)

FY2024 First Half
(As of June 30, 2024)

AssetsCurrent Assets:
Cash and bank deposits

132,775

134,399

Notes and accounts receivable - trade,and contract assets

71,541

69,568Marketable securities

2,000

2,005

Merchandise and finished goods

35,14536,052Work in process

24,69629,439Raw materials and supplies

39,632

44,315

Other current assets

14,102

14,956

Allowance for doubtful accounts(1,317)(2,897)

Total Current Assets

318,577

327,840

Buildings and structures, net

55,45457,941

Machinery, equipment and vehicles, net

17,652

19,530Land

20,311

21,689Construction in progress

2,530

4,915

Other property, plant and equipment, net

4,853

4,902

Total Property, Plant and Equipment

100,801

108,979

Goodwill

1,343

1,276

Software

1,258

1,062

629

691

Other intangibles

1,733

1,862

Total Intangibles

4,965

4,893

Investment securities

15,66618,104Retirement benefit asset

1,212

1,247

Deferred tax assets

6,244

6,831

Other investments and other assets

2,778

1,506

Allowance for doubtful accounts(1,214)(54)

Total Investments and Other Non-Current Assets

24,686

27,635130,453

141,508

449,030

469,349

Fixed Assets:
Property, Plant and Equipment:

Intangibles:

Leasehold interests in land

Investments and Other Non-Current Assets:

Total Fixed Assets
Total Assets

5

HORIBA, Ltd. (Consolidated)Amount: Millions of yen
FY2023(As of December 31, 2023)

FY2024 First Half
(As of June 30, 2024)

Liabilities
Current Liabilities:
Trade notes and accounts payable

30,51818,822

Short-term loans payable

5,695

11,830Accounts payable - other

22,184

21,154

Accrued income taxes

5,783

6,238

Contract liabilities

24,713

28,970Accrued bonuses to employees

2,312

1,449

-

529

Reserve for product warranty

3,570

3,347

Other current liabilities

6,272

7,319

Total Current Liabilities

101,051

99,663

Corporate bonds

30,00030,000Long-term loans payable

24,69925,034645

831

Retirement benefit liability

1,873

2,164

Other non-current liabilities

7,027

7,875

Total Non-Current Liabilities

64,24665,905

165,298

165,568

Common stock

12,011

12,011

Capital surplus

18,766

18,624Retained earnings

223,320

224,740

Treasury stock(1,037)(2,840)Total Shareholders' Equity

253,060

252,536

Net unrealized holding gains or losses on securities

6,850

8,354

Foreign currency translation adjustments

22,78541,916

Remeasurements of defined benefit plans

312

282

29,94750,553

Subscription Rights to Shares

706

673

Non-Controlling Interests

1717283,732

303,780

449,030

469,349

Accrued bonuses to directors and corporate auditors

Non-Current Liabilities:

Deferred tax liabilities

Total Liabilities
Net Assets
Shareholders' Equity

Accumulated Other Comprehensive Income

Total Accumulated Other Comprehensive Income

Total Net Assets
Total Liabilities and Net Assets

6

HORIBA, Ltd. (Consolidated)(2) Consolidated Statements of Income and Consolidated Comprehensive Income Statements(Consolidated Statements of Income)Amount: Millions of yen
FY2023 First Half
(Six Months Ended
June 30, 2023)

FY2024 First Half
(Six Months Ended
June 30, 2024)

Net Sales

131,105

142,720

Cost of Sales

74,97180,654Gross Income

56,13462,065

Selling, General and Administrative Expenses

38,29543,449Operating Income

17,83818,615Interest income

715

1,238

Dividend income

146

169

Subsidy income

11

27

Other

170

175

1,043

1,610

Interest expenses

332

438

Foreign exchange losses

373

313

Other

51

209

Total Non-Operating Expenses

757

960

18,124

19,266

12

10

Gain on sale of shares of subsidiaries

6,297

-

Total Extraordinary Gain

6,309

10

Loss on sales of fixed assets-

0Loss on disposal of fixed assets

29

25

Loss on sale of investment securities

0-

Loss on valuation of investment securities

21-

Total Extraordinary Losses

50

26

Income before Income Taxes

24,384

19,249

Income taxes (current)

6,566

6,716

Income taxes (deferred)(1,191)(615)

Total Income Taxes

5,374

6,101

19,00913,1483(0)

19,00613,148

Non-Operating Income

Total Non-Operating Income
Non-Operating Expenses

Ordinary Income
Extraordinary Gain
Gain on sales of fixed assets

Extraordinary Losses

Net Income
Profit (loss) attributable to non-controlling interests
Net Income Attributable to HORIBA Ltd.'s Shareholders

7

HORIBA, Ltd. (Consolidated)

(Consolidated Statements of Comprehensive Income)Amount: Millions of yen
FY2023 First Half
(Six Months Ended
June 30, 2023)

FY2024 First Half
(Six Months Ended
June 30, 2024)

19,00913,148Net unrealized holding gains or losses on securities

1,355

1,504

Foreign currency translation adjustments

12,844

18,951Remeasurements of defined benefit plans

1

(29)

181

180

14,383

20,60533,39233,75433,38633,754

6(0)

Net Income
Other Comprehensive Income

Share of other comprehensive income of entities accounted forusing equity method
Total Other Comprehensive Income
Comprehensive Income(Breakdown of comprehensive income)Comprehensive income attributable to HORIBA Ltd.'s Shareholders
Comprehensive income attributable to non-controlling interests

8

HORIBA, Ltd. (Consolidated)

(3) Consolidated Statements of Cash Flows
Amount: Millions of yen
FY2023 First Half
(Six Months Ended
June 30, 2023)

FY2024 First Half
(Six Months Ended
June 30, 2024)

Income before income taxes

24,384

19,249Depreciation expense

5,751

6,375

Amortization of goodwill

247

215

Increase (decrease) in allowance for doubtful accounts

58

120

Increase (decrease) in retirement benefit liability

111

105

Interest and dividend income(861)(1,407)

Interest expense

332

438

Foreign exchange losses (gains)

(162)

70

Loss (gain) on sales of fixed assets

(12)

(9)

Loss on disposal of fixed assets

29

25

Loss (gain) on valuation of investment securities

21-

Loss (gain) on sales of investment securities

0-

Loss (gain) on sale of shares of subsidiaries(6,297)-

Decrease (increase) in notes and accounts receivable - trade, andcontract assets

10,504

7,875

Decrease (increase) in inventories(15,569)(3,666)

Increase (decrease) in trade notes and accounts payable(5,254)(14,431)

Other, net

939

(871)

Subtotal

14,221

14,092

Interest and dividends received

844

1,458

Interest paid

(383)

(411)

(11,046)(5,184)

3,635

9,955

Cash Flows from Operating Activities:

Income taxes (paid) refund
Net Cash Provided by (Used in) Operating Activities

9

HORIBA, Ltd. (Consolidated)Amount: Millions of yen
FY2023 First Half
(Six Months Ended
June 30, 2023)

FY2024 First Half
(Six Months Ended
June 30, 2024)

Increase in time deposits(1,461)(790)

Decrease in time deposits

1,879

2,935

Payments for purchase of marketable securities(1,000)(1,005)

500

1,003

(4,613)(6,523)45

42

Payments for purchase of intangibles

(130)

(83)

Payments for purchase of investment securities

(10)

(10)

Proceeds from sales or redemption of investment securities

0-

Payments of loans receivable

(9)

(15)

Collection of loans receivable

19

14

(665)

-

4,233

-

(63)

41

(1,277)(4,390)(10,083)

5,273

-

45

Repayments of long-term debt

(113)

(215)

Repayments on finance lease obligations

(775)

(946)

Purchase of treasury shares(0)(5,016)

Proceeds from disposal of treasury shares

00Cash dividends paid

(7,592)(8,870)Net Cash Provided by (Used in) Financing Activities(18,565)(9,730)

4,455

7,852

Net Increase (Decrease) in Cash and Cash Equivalents(11,751)

3,686

Cash and Cash Equivalents at Beginning of Period

138,760

130,550

Cash and Cash Equivalents at End of Period

127,009134,237

Cash Flows from Investing Activities:

Proceeds from sales or redemption of marketable securities
Payments for purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment

Purchase of shares of subsidiaries resulting in change in scope of
consolidation
Proceeds from sale of shares of subsidiaries resulting in change inscope of consolidation
Other, net
Net Cash Provided by (Used in) Investing Activities
Cash Flows from Financing Activities:
Net increase (decrease) in short-term borrowings
Increase in long-term debt

Effect of Exchange Rate Changes on Cash and Cash Equivalents

10

HORIBA, Ltd. (Consolidated)

(4) Notes to Consolidated Financial Statements
Application of special accounting for preparing interim consolidated financial statement(Calculation method for tax expenses)
The Company and its domestic consolidated subsidiaries calculated income tax expenses by multiplying income before
income taxes by reasonably estimated annual effective tax rate. This tax rate was reasonably estimated after applying
the deferred tax accounting to the annual income before income taxes.

11

HORIBA, Ltd. (Consolidated)3. Supplemental Information
HORIBA, Ltd. Financial Highlights for the Six Months Ended June 30, 2024
1.Consolidated Financial Results

Amount : Millions of yen

12/2023
Results

12/2024
Results

1st Half

1st Half

ChangesAmountRatio

12/2023
Results

12/2024
Forecasts

Full Year

Full Year

ChangesAmountRatio

Net Sales

131,105

142,720+11,614+8.9%

290,558

321,000+30,441+10.5%

Operating Income

17,83818,615

+777

+4.4%

47,29652,000+4,703

+9.9%

13.6%

13.0%

-0.6P

16.3%

16.2%

-0.1P

18,124

19,266+1,141

48,251

52,700+4,448

13.8%

13.5%

-0.3P

16.6%

16.4%

-0.2P

19,00613,148-5,85740,30237,000-3,302Net Income Ratio

14.5%

9.2%

-5.3P

13.9%

11.5%

-2.4P

US$

135.00152.36+17.36140.67145.00

+4.33

Euro

145.93164.70+18.77152.11160.00+7.89

Operating Income Ratio

Ordinary Income
Ordinary Income Ratio

Net Income Attributable
to HORIBA Ltd.'s
Shareholders+6.3%-30.8%

2.Consolidated Segment Results
Net Sales

+9.2%

-8.2%

Amount : Millions of yen

12/2023
Results

12/2024
Results

1st Half

1st Half

ChangesAmountRatio

12/2023
Results

12/2024
Forecasts

Full Year

Full Year

ChangesAmount

Ratio

Automotive

30,54538,620+8,074+26.4%

80,40694,000+13,593+16.9%

Process & Environmental

11,336

11,709

+373

+3.3%

24,95931,500+6,540+26.2%

Medical-Diagnostics

15,592

16,350

+757

+4.9%

32,67834,500+1,821+5.6%

Semiconductor

56,22557,256+1,030+1.8%

112,872

119,000+6,127+5.4%

Scientific

17,404

18,783+1,378+7.9%

39,64142,000+2,358

+5.9%

Total

131,105

142,720+11,614+8.9%

290,558

321,000+30,441+10.5%

Operating Income
Automotive

12/2023
Results

12/2024
Results

1st Half

1st Half

ChangesAmountRatio

12/2023
Results

12/2024
Forecasts

Full Year

Full Year

ChangesAmountRatio(2,159)(1,169)

+989

-

1,209

3,000

Process & Environmental

916

162

-754

-82.3%

2,412

2,500

+87

+3.6%

Medical-Diagnostics

178

(456)

-635

-

638

500

-138

-21.7%

18,68920,254+1,564+8.4%

40,58043,500+2,919

+7.2%

213

(174)

-388

-

2,456

2,500

+43

+1.8%

17,83818,615

+777

+4.4%

47,29652,000+4,703+9.9%

Semiconductor
Scientific
Total

12

+1,790 +148.1%

HORIBA, Ltd. (Consolidated)3.Consolidated Segment Sales by Destination

Automotive

12/2023
Results

12/2024
Results

1st Half

1st Half

Amount : Millions of yen
ChangesAmountRatio

12/2023
Results

12/2024
Forecasts

Full Year

Full Year

ChangesAmountRatio

30,54538,620+8,074+26.4%

80,40694,000+13,593+16.9%

Japan

6,989

10,986+3,996+57.2%

16,86820,800+3,931+23.3%

Asia

6,571

7,093

+521

+7.9%

19,761

20,500

+738

+3.7%

Americas

3,552

5,386

+1,833+51.6%

10,637

12,400+1,762+16.6%

Europe13,43215,154+1,722+12.8%

33,13840,300+7,161+21.6%

Process&Environmental

11,336

11,709

+373

+3.3%

24,95931,500+6,540+26.2%

Japan

5,559

6,133

+573

+10.3%

11,446

13,100+1,653+14.4%

Asia

2,256

2,211

-44

-2.0%

5,863

9,300

+3,436+58.6%

Americas

1,726

1,776

+50

+2.9%

3,689

4,000

+310

+8.4%

Europe

1,793

1,588

-205

-11.5%

3,960

5,100

+1,139+28.8%

15,592

16,350

+757

+4.9%

32,67834,500+1,821

+5.6%

Japan

3,401

3,126

-274

-8.1%

6,906

7,100

+193

+2.8%

Asia

3,599

3,894

+295

+8.2%

7,812

8,700

+887

+11.4%

Americas

3,609

3,541

-67

-1.9%

7,069

7,700

+630

+8.9%

Europe

4,983

5,788

+805

+16.2%

10,88911,000

+110

+1.0%

Medical-Diagnostics

Semiconductor

56,22557,256+1,030+1.8%

112,872

119,000+6,127

+5.4%

Japan

14,802

11,875-2,927-19.8%

27,34331,000+3,656+13.4%

Asia

33,002

36,986+3,983+12.1%

69,052

67,200-1,852-2.7%

Americas

4,585

4,987

+402

+8.8%

9,266

15,000+5,733+61.9%

Europe

3,835

3,407

-428

-11.2%

7,209

5,800

-1,409-19.5%

17,404

18,783+1,378+7.9%

39,64142,000+2,358

+5.9%

Japan

4,113

4,071

-42

-1.0%

7,579

9,300

+1,720+22.7%

Asia

5,540

6,714

+1,174+21.2%

14,77715,300

+522

+3.5%

Americas

4,709

4,597

-112

-2.4%

10,024

9,400

-624

-6.2%

Europe

3,041

3,400

+359

+11.8%

7,261

8,000

+738

+10.2%

131,105

142,720+11,614+8.9%

290,558

321,000+30,441+10.5%

Japan

34,86636,192+1,325+3.8%

70,14481,300+11,155+15.9%

Asia

50,96956,899+5,930+11.6%

117,266

121,000+3,733+3.2%

Americas18,183

20,289+2,106+11.6%

40,68748,500+7,812+19.2%

Europe27,08529,338+2,252+8.3%

62,45870,200+7,741+12.4%

ScientificTotal

4. Capital Expenditures, Depreciation and R&D Expenses

Amount : Millions of yen

12/2023
1st Half Results

12/2024

Full-year Results

1st Half Results

Full-year Forecasts

Capital Expenditures (*1)

4,269

9,122

6,267

23,000Depreciation (*2)

5,998

12,602

6,591

14,000R&D Expenses

9,827

20,436

11,18722,600(*1) Capital Expenditures are investments in tangible and intangible fixed assets.
(*2) Amortization of goodwill is included in depreciation.

13

HORIBA, Ltd. (Consolidated)5. Consolidated Financial Results (Quarterly Comparison)

Amount : Millions of yen

12/2023 Results

12/2024

1Q

2Q

3Q

4Q

Net Sales

65,85465,251

69,574

Operating Income

10,450

7,387

15.9%

Operating Income Ratio

Ordinary Income
Ordinary Income Ratio

Net Income Attributable
to HORIBA Ltd.'s
Shareholders
Net Income Ratio

1Q Results

2Q Results

2H Forecasts

89,87870,252

72,468178,279

10,66018,797

10,0098,606

33,384

11.3%

15.3%

20.9%

14.2%

11.9%

18.7%

10,320

7,803

10,964

19,162

10,1659,100

33,433

15.7%

12.0%

15.8%

21.3%

14.5%

12.6%

18.8%

13,556

5,449

7,966

13,330

7,029

6,119

23,851

20.6%

8.4%

11.4%

14.8%

10.0%

8.4%

13.4%

6. Consolidated Segment Results (Quarterly Comparison)
Net Sales

Amount : Millions of yen

12/2023 Results

12/2024

1Q

2Q

3Q

4Q

1Q Results

2Q Results

2H Forecasts

Automotive

15,943

14,602

17,621

32,23819,52819,092

55,379Process & Environmental

5,404

5,931

5,921

7,701

5,941

5,768

19,790

Medical-Diagnostics

7,351

8,241

7,815

9,270

7,641

8,709

18,149

Semiconductor

28,98827,23728,33028,31527,89929,356

61,743

Scientific

8,166

9,238

9,884

12,352

9,242

9,540

23,216

Total

65,85465,251

69,57489,87870,252

72,468178,279

1Q

2Q

1Q Results

2Q Results

2H Forecasts

Operating Income

12/2023 Results

12/2024

3Q

4Q

Automotive

330(2,490)

(577)

3,946

178

(1,348)4,169

Process & Environmental

529

387

505

990

348

(186)

2,337

Medical-Diagnostics

(43)

221

51

408

(316)

(139)

956

9,707

8,981

10,132

11,757

9,796

10,45823,245

(73)

286

549

1,693

2

(177)

2,674

10,4507,387

10,66018,797

10,0098,606

33,384

Semiconductor
Scientific
Total

Contact
Corporate Planning Office, Group Strategy Division, HORIBA, Ltd. E-mail: ir-info@horiba.com

14

HORIBA, Ltd. (Consolidated)