Summary of Consolidated Financial Statements for the Six Months Ended June 30, 2021
(Japanese GAAP)

August 10, 2021
Listed stock exchanges: Tokyo
URL: https://www.horiba.com/en_en/
TEL: (81)75-313-8121

Company name HORIBA, Ltd.
Listing code
6856
Representative Atsushi Horiba, Chairman & Group CEO
Contact
Yoshihiro Morita, Department Manager, Accounting Dept.
Scheduled date of start of interim dividend payment: September 6, 2021

(Figures have been rounded down to the nearest million yen)

1. Consolidated Results for the Six Months Ended June 30, 2021 (January 1, 2021 - June 30, 2021)(Percentages represent changes from the corresponding in the previous year)(1) Consolidated Operating Results
Net Sales
Millions of yen

Six months ended 6/30/21
Six months ended 6/30/20

101,317
84,975(Note) Comprehensive Income: FY2021Q2

Six months ended 6/30/21
Six months ended 6/30/20

Operating Income% Millions of yen
19.2
13,069-7.2
6,676% Millions of yen
95.7
13,047-19.4
6,776

15,294 million yen (-%)

Net Income Attributableto Owners of Parent

Ordinary Income% Millions of yen
92.5
8,744
-15.7
4,860

FY2020Q2

%
79.9
-15.8

705 million yen (-81.8%)

Net Income Attributable
Net Income Attributableto Owners of Parent per Shareto Owners of Parent per Share(Diluted)
Yen
Yen
207.24206.20115.20114.67(2) Consolidated Financial Position
Total Assets

Shareholders'Equity Ratio

Net Assets

Millions of yen
Millions of yen%
As of 6/30/21
348,968
191,554
54.7
As of 12/31/20
328,068
178,669
54.3(Reference) Net assets excluding subscription rights to shares and non-controlling interests:
As of 6/30/21
190,754 million yen
As of 12/31/20 177,964 million yen

2. Dividends
Dividend per Share
First
Quarter

SecondQuarter

Yen
Year ended 12/31/20

-

Yen
30.00

Year ended 12/31/21

-

50.00

Third
QuarterYear End

Yen-

Year ending 12/31/21(Forecast)(Note) Changes in the latest dividend forecasts released: Yes

Total

Yen
60.00

Yen
90.00

80.00

130.003. Consolidated Forecast for the Year Ending December 31, 2021 (January 1, 2021 - December 31, 2021)(Percentages represent changes from the previous fiscal year)

Net Sales

Operating Income

Ordinary Income% Millions of yen% Millions of yen
Full year
220,000 17.6
28,500 44.7
28,000(Note) Changes in the latest business forecasts released: Yes
Millions of yen

1

%
44.3

Net Income Attributableto Owners of Parent

Net Income Attributableto Owners of Parent
per Share

%
40.3

Yen
438.42Millions of yen

18,500HORIBA, 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 quarterly consolidated financial statements: Yes(3) Changes in accounting policies, accounting estimates and retrospective restatement① Changes in accounting policies associated with revision of accounting standards: None
② Changes in accounting policies arising from other than the above: None
③ Changes in accounting estimates: None
④ Retrospective restatement: None
(4) Number of shares outstanding (common stock)① Shares issued (including treasury stock) June 30, 2021

42,532,752

December 31, 2020

42,532,752② Treasury stock

June 30, 2021

335,390

December 31, 2020

335,478③ Average number of outstanding sharesJan. - Jun.,2021

42,197,315

Jan. - Jun., 2020

42,188,329

Note 1. This consolidated financial report is not subject to quarterly 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 on August 10, 2021.
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 page 13-15, “3. Supplemental Information - HORIBA, Ltd. Financial Highlights for the
Six Months Ended June 30, 2021”)

During the six months ended June 30, 2021 (the first half year), HORIBA, Ltd. (“the Company”) and its
consolidated subsidiaries (together “the HORIBA Group” or “HORIBA” as a consolidated group)
increased sales by 19.2% year-on-year to 101,317 million yen, mainly due to an increase in sales of
the Semiconductor segment. Operating income increased by 95.7% to 13,069 million yen, ordinary
income by 92.5% to 13,047 million yen and net income attributable to owners of parent by 79.9% to8,744 million yen.
The operating results of each business segment are summarized as follows.

(Automotive Segment)
Sales decreased due to the decrease in backlog at the end of the previous fiscal year. As a result,segment sales decreased by 8.1% year-on-year to 24,924 million yen, and operating loss of 1,187
million yen was recorded (compared to operating loss of 269 million yen in the second quarter of theprevious year).

(Process & Environmental Segment)
Mainly due to an increase in sales of stack gas analyzers in Asia, segment sales increased by 15.8%
year-on-year to 10,040 million yen and operating income increased by 153.7% to 1,114 million yen.

(Medical-Diagnostics Segment)
Sales of hematology analyzers increased in Americas and other areas. As a result, segment sales
increased by 24.0% year-on-year to 12,896 million yen and operating income of 326 million yen wasrecorded (compared to operating loss of 75 million yen in the second quarter of the previous year).

(Semiconductor Segment)
Sales to semiconductor production equipment manufacturers increased significantly, in response toexpansion of semiconductor manufacturers’ capital expenditures driven by an increase in demand
for semiconductors. As a result, segment sales increased by 46.0% year-on-year to 40,043 million
yen and operating income increased by 92.4% to 12,351 million yen.

(Scientific Segment)
Mainly due to an increase in sales of optical components in Americas, segment sales increased by
18.0% year-on-year to 13,412 million yen and operating income increased by 184.0% to 464 million
yen.

3

HORIBA, Ltd. (Consolidated)(2) Information Concerning Consolidated Earnings Forecasts for FY2021
HORIBA’s full year consolidated earnings forecast is as follows.
Our assumption for the exchange rate has been changed from 108 yen to 109 yen against the US
dollars and 128 yen to 130 yen against the euro.
Consolidated forecasts of full year FY2021
Amount : Millions of yen
Previous
Forecast(As of May 13)

Revised Forecast(As of Aug. 10)

Changes

Net Sales

210,000

220,000+10,000

Operating Income

24,50028,500+4,000Ordinary Income

24,00028,000+4,000Net Income Attributableto Owners of Parent

16,00018,500+2,500Consolidated forecasts of full year FY2021 by segment
Net Sales

Automotive

Amount : Millions of yen Operating Income
Amount : Millions of yen
Previous
RevisedPrevious
Revised
Forecast
Forecast
Forecast
Forecast(As of May (As of Aug. Changes(As of May (As of Aug. Changes
13)
10)
13)
10)
64,000-Automotive

1,000

1,000

-

21,000-

Process &Environmental

1,500

1,500

-

25,00025,000-

Medical-Diagnostics

500

500

-

Semiconductor

71,00081,000+10,000

Semiconductor

20,00024,000+4,000Scientific29,00029,000-Scientific

1,500

1,500

-

Total

210,000

220,000+10,000

Total

24,50028,500+4,000

Process &Environmental

21,000

Medical-Diagnostics

64,000

By taking into account the recent order trend, the Company revised upward the sales and theoperating income of the Semiconductor segment by 10,000 million yen and 4,000 million yen
respectively. As a result, sales and operating income forecasts has been revised to 220,000 million
yen and 28,500 million yen respectively. Also forecasts for ordinary income and net income
attributable to owners of parent has been revised upward by 4,000 million yen and 2,500 million yen
respectively.

4

HORIBA, Ltd. (Consolidated)Amendments to dividend forecasts for fiscal 2021
Dividend per Share(Yen)Record Date
Previous Forecasts(As of May 13)
Revised Forecasts
Actual Resultsfor Fiscal 2020

InterimYear-end

Total

40

70

110

50

80

130

30

60

90

The Company’s shareholder return policy is to set the total returns to shareholders (the combined
amount of dividend payments and share buybacks) at approximately 30% of consolidated net income
attributable to owners of parent.
Dividend forecasts for fiscal 2021 had been 110 yen per share for the full year (40 yen for the interim
and 70 yen for the year-end) since the announcement of “Summary of Consolidated Financial
Statements for the Three Months Ended March 31, 2021” on May 13, 2021. However, considering therevised consolidated earnings forecasts for fiscal 2021, the Company has amended the forecasts toincrease the year-end per-share dividend forecast by 20 yen (10 yen for the interim) to 130 yen (50yen for the interim and 80 yen for the year-end).

Cautionary statement with respect to earnings forecasts
The forecasts of dividend amount and business performance contained in this report have been madebased on certain future assumptions, outlooks, and plans which are available at the HORIBA Groupas of August 10, 2021. However, due to risks and various uncertain factors such as future business
operation policies, changes in the economic environment in Japan and overseas, fluctuation ofcurrency rates, it is possible that actual performance would vary considerably from the forecasts.

5

HORIBA, Ltd. (Consolidated)2. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets
Amount : Millions of yen
FY2020(As of December 31, 2020)

FY2021 first half
(As of June 30, 2021)

AssetsCurrent Assets:
Cash and bank deposits

114,537

122,311

Trade notes and accounts receivable

50,87351,687

Marketable securities

1,965

1,854

Merchandise and finished goods

18,57818,906Work in process

16,786

19,682

Raw materials and supplies

13,886

14,661Other current assets

8,364

9,335

Allowance for doubtful accounts(1,032)(1,197)

Total Current Assets

223,959

237,243

Buildings and structures, net

40,874

43,171

Machinery, equipment and vehicles, net

11,386

12,230Land

15,315

15,770Construction in progress

9,630

11,296

Other property, plant and equipment, net

4,863

5,097

Total Property, Plant and Equipment

82,071

87,567

Goodwill

944

1,326

Software

2,375

2,125

Leasehold interests in land

563

591

Other intangibles

743

721

Total Intangibles

4,625

4,764

10,60512,082

321

400

Deferred tax assets

3,844

4,213

Other investments and other assets

2,686

2,746

(46)

(48)

17,411

19,393

104,108

111,725

328,068

348,968

Fixed Assets:
Property, Plant and Equipment:

Intangibles:

Investments and Other Non-Current Assets:
Investment securities
Retirement benefit asset

Allowance for doubtful accounts
Total Investments and Other Non-Current Assets
Total Fixed Assets
Total Assets

6

HORIBA, Ltd. (Consolidated)Amount : Millions of yen
FY2020(As of December 31, 2020)

FY2021 first half
(As of June 30, 2021)

Liabilities
Current Liabilities:
Trade notes and accounts payable

20,26425,438

Short-term loans payable

9,548

9,337

Accounts payable - other

15,092

14,239Accrued income taxes

4,042

4,411

Advances received

15,473

16,647

919

544

-

279

Reserve for product warranty

2,331

2,342

Other current liabilities

5,124

5,437

Total Current Liabilities

72,79778,679Corporate bonds

30,00030,000Long-term loans payable

37,51838,598836

1,538

Retirement benefit liability

2,237

2,447

Other non-current liabilities

6,009

6,150

Total Non-Current Liabilities

76,60178,734

149,399

157,413

Common stock

12,011

12,011

Capital surplus

18,59918,624Retained earnings

150,222

156,435

Treasury stock(1,323)(1,323)

Total Shareholders' Equity

179,509

185,748

4,363

5,382

6

-

Foreign currency translation adjustments(5,839)(320)

Remeasurements of defined benefit plans

(75)

(55)

(1,545)

5,006

697

791

6

8

178,669

191,554

328,068

348,968

Accrued bonuses to employees
Accrued bonuses to directors and corporate auditors

Non-Current Liabilities:

Deferred tax liabilities

Total Liabilities
Net Assets
Shareholders' Equity

Accumulated Other Comprehensive Income
Net unrealized holding gains or losses on securities
Deferred gains or losses on hedges

Total Accumulated Other Comprehensive Income
Subscription Rights to Shares
Non-Controlling Interests
Total Net Assets
Total Liabilities and Net Assets

7

HORIBA, Ltd. (Consolidated)(2) Consolidated Statements of Income and Consolidated Comprehensive Income Statements(Consolidated Statements of Income)Amount : Millions of yen
FY2020 first half(Six months ended

FY2021 first half(Six months ended

June 30, 2020)

June 30, 2021)

Net Sales

84,975

101,317

Cost of Sales

49,90658,516Gross Income

35,06942,800

Selling, General and Administrative Expenses

28,392

29,731

Operating Income

6,676

13,069Interest income

214

101

Dividend income

88

109

Subsidy income

173

52

Other

127

108

Total Non-Operating Income

604

372

Interest expense

209

232

Foreign exchange losses

248

103

Other

46

58

Total Non-Operating Expense

504

394

6,776

13,047

Gain on sales of fixed assets

187Gain on sales of investment securities

554

6

Total Extraordinary Gain

573

14

Loss on sales of fixed assets

02

Loss on disposal of fixed assets

20

46

Loss on valuation of investment securities

9-

Total Extraordinary Loss

29

48

Income before Income Taxes

7,319

13,012

Income taxes (current)

2,562

4,322

Income taxes (deferred)

(98)

(49)

Total Income Taxes

2,464

4,272

4,855

8,740

(4)

(4)

4,860

8,744

Non-Operating Income

Non-Operating Expense

Ordinary Income
Extraordinary Gain

Extraordinary LossNet Income
Profit (loss) attributable to non-controlling interests
Net Income Attributable to Owners of Parent

8

HORIBA, Ltd. (Consolidated)

(Consolidated Statements of Comprehensive Income)Amount : Millions of yen

Net Income

FY2020 first half(Six months ended

FY2021 first half(Six months ended

June 30, 2020)

June 30, 2021)

4,855

8,740

(1,187)

1,019

(0)

(6)

Foreign currency translation adjustments(2,996)

5,520

Remeasurements of defined benefit plans35

19(4,149)

6,553

705

15,294Comprehensive income attributable to owners of parent

713

15,296Comprehensive income attributable to non-controlling interests

(7)

(2)

Other Comprehensive Income
Net unrealized holding gains or losses on securities
Deferred gains or losses on hedges

Total Other Comprehensive Income
Comprehensive Income(Breakdown of comprehensive income)9

HORIBA, Ltd. (Consolidated)

(3) Consolidated Statements of Cash Flows
Amount : Millions of yen
FY2020 first half(Six months ended
June 30, 2020)

FY2021 first half(Six months ended
June 30, 2021)

Cash Flows from Operating Activities:
Income before income taxes

7,319

13,012

Depreciation expense

4,612

4,826

Amortization of goodwill

159

216

Increase (decrease) in allowance for doubtful accounts

24

96

Increase (decrease) in net defined benefit liability

92

137

Interest and dividend income

(303)

(210)

Interest expense

209

232

Foreign exchange losses (gains)

178

(171)

Loss (gain) on sales of fixed assets

(18)

(5)

Loss on disposal of fixed assets

20

46

Loss (gain) on valuation of investment securities

9

-

(554)

(6)

Decrease (increase) in trade notes and accounts receivable

11,826

1,347

Decrease (increase) in inventories(4,010)(1,899)

(403)

4,236

Other, net(2,108)(849)

Subtotal

17,05421,008Interest and dividends received

284

195

Interest paid

(232)

(197)

(1,720)(5,184)

15,385

15,821

Increase in time deposits

(628)

(581)

Decrease in time deposits

538

649

Payments for purchase of marketable securities(1,000)(1,300)

Proceeds from sales or redemption of marketable securities

1,700

1,400

Payments for purchase of property, plant and equipment(6,029)(6,208)

38

68

Payments for purchase of intangibles

(175)

(119)

Payments for purchase of investment securities

(30)

(8)

Proceeds from sales or redemption of investment securities

609

9

Payments of loans receivable

(40)

(7)

Collection of loans receivable

15

15

Purchase of shares of subsidiaries and associates

-

(751)

Other, net

0

(109)

(5,001)(6,942)

Loss (gain) on sales of investment securities

Increase (decrease) in trade notes and accounts payable

Income taxes (paid) refund
Net Cash Provided by (used in) Operating Activities
Cash Flows from Investing Activities:

Proceeds from sales of property, plant and equipment

Net Cash Provided by (used in) Investing Activities

10

HORIBA, Ltd. (Consolidated)Amount : Millions of yen
FY2020 first half

FY2021 first half(Six months ended
June 30, 2020)(Six months ended
June 30, 2021)

Cash Flows from Financing Activities:
Net increase (decrease) in short-term borrowings

1,082(1,219)25

1,439

Repayments of long-term debt

(185)

(185)

Repayments on finance lease obligations

(648)

(613)

Net decrease (increase) of treasury stock

(0)

(0)

(3,370)(2,529)(3,097)(3,108)

Effect of Exchange Rate Changes on Cash and Cash Equivalents

(966)

2,032

Net Increase (Decrease) in Cash and Cash Equivalents

6,320

7,804

Cash and Cash Equivalents at Beginning of Period

96,064

114,156

Cash and Cash Equivalents at End of Period

102,385

121,960

Increase in long-term debt

Cash dividends paid
Net Cash Provided by (used in) Financing Activities

11

HORIBA, Ltd. (Consolidated)

(4) Notes to Consolidated Financial Statements
Application of special accounting for preparing quarterly consolidated financial statement(Calculation method for tax expenses)
The Company and its domestic consolidated subsidiaries calculated income tax expenses bymultiplying quarterly 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.
Additional information(Application of tax effect accounting for transition from consolidated taxation system to grouptax sharing system)
With regard to the transition to group tax sharing system established in the “Act for Partial
Amendment of the Income Tax Act, etc.” (Act No. 8 of 2020) and items for which the nonconsolidated
taxation system has been reviewed in line with the transition to the group tax sharing system, theCompany and its domestic consolidated subsidiaries calculated the amounts of deferred tax assets
and deferred tax liabilities in accordance with the provisions of the tax act before the amendment
based on the treatment of Paragraph 3 of the “Practical Solution on the Treatment of Tax EffectAccounting for the Transition from the Consolidated Taxation System to the Group Tax Sharing
System” (ASBJ Practical Issues Tax Force No. 39, March 31, 2020), instead of applying the provisionof Paragraph 44 of the “Implementation Guidance on Tax Effect Accounting” (ASBJ Guidance No.
28, February 16, 2018).

12

HORIBA, Ltd. (Consolidated)3. Supplemental Information
HORIBA, Ltd. Financial Highlights for the Six Months Ended June 30, 2021
1. Consolidated Financial Results

Amount : Millions of yen

12/2020
Results

12/2021
Results

1st half

1st half

Amount12/2020
Results

12/2021
Forecasts

Ratio

Full year

Full year

AmountRatio

Changes

Changes

Net Sales

84,975

101,317+16,341+19.2%

187,080

220,000+32,919+17.6%

Operating Income

6,676

13,069+6,392+95.7%

19,69428,500+8,805+44.7%

Operating Income Ratio

7.9%

12.9%

+5.0P

10.5%

13.0%

+2.5P

6,776

13,047+6,27019,39928,000+8,600

10.4%

12.7%

+2.3P

13,18818,500+5,311

Ordinary Income+92.5%

Ordinary Income Ratio

8.0%

12.9%

+4.9P

Net Income Attributableto Owners of Parent

4,860

8,744

+3,884Net Income Ratio

5.7%

8.6%

+2.9P

7.0%

8.4%

+1.4P

US$

108.23107.82-0.41

106.76109.00

+2.24

Euro

119.31129.89+10.58121.88130.00+8.12+79.9%

2. Consolidated Segment Results
Net Sales+44.3%+40.3%

Amount: Millions of yen

12/2020
Results

12/2021
Results

1st half

1st half

ChangesAmountRatio

12/2020
Results

12/2021
Forecasts

Full year

Full year

ChangesAmount

Ratio

Automotive

27,10824,924-2,184-8.1%

63,91364,000+86+0.1%

Process&Environmental

8,673

10,040+1,367+15.8%

18,33721,000+2,662+14.5%

Medical-Diagnostics

10,402

12,896+2,493+24.0%

21,03525,000+3,964+18.8%

Semiconductor

27,42340,043+12,619+46.0%

56,96781,000+24,032+42.2%

Scientific

11,367

13,412+2,045+18.0%

26,82529,000+2,174

+8.1%

Total

84,975

101,317+16,341+19.2%

187,080

220,000+32,919+17.6%

Operating Income

12/2020
Results

12/2021
Results

1st half

1st half

ChangesAmountRatio

12/2020
Results

12/2021
Forecasts

Full year

Full year

ChangesAmount

Ratio

Automotive(269)(1,187)

-917

-

2,465

1,000

-1,465-59.4%

Process&Environmental

439

1,114

+675

+153.7%

1,639

1,500

-139

-8.5%

Medical-Diagnostics

(75)

326

+401

-

(426)

500

+926

-

Semiconductor

6,418

12,351+5,932+92.4%

14,052

24,000+9,947+70.8%

Scientific

163

464

+300

+184.0%

1,963

1,500

-463

-23.6%

Total

6,676

13,069+6,392+95.7%

19,69428,500+8,805+44.7%

13

HORIBA, Ltd. (Consolidated)3. Consolidated Segment Sales by Destination
12/2020
Results

12/2021
Results

1st half

1st half

27,108Japan

Automotive

Amount : Millions of yen
ChangesAmountRatio

12/2020
Results

12/2021
Forecasts

Full year

Full year

24,924-2,184-8.1%

63,913

9,174

8,256

-917

-10.0%

Asia

6,945

6,244

-701

Americas

2,214

2,317

+102

ChangesAmountRatio

64,000+86+0.1%

17,64015,000-2,640-15.0%-10.1%

17,584

16,500-1,084

-6.2%

+4.6%

7,226

8,000

+773

+10.7%

Europe

8,773

8,105

-668

-7.6%

21,462

24,500+3,037+14.2%

Process&Environmental

8,673

10,040+1,367+15.8%

18,33721,000+2,662+14.5%

Japan

4,934

4,971

+36

+0.7%

9,917

10,500

+582

+5.9%

Asia

1,540

2,668

+1,128+73.2%

4,010

6,000

+1,989+49.6%

Americas

1,168

1,161

-7

-0.6%

2,184

2,000

-184

-8.4%

Europe

1,029

1,239

+209

+20.3%

2,225

2,500

+274

+12.3%

10,402

12,896+2,493+24.0%

21,03525,000+3,964+18.8%

Japan

2,764

2,911

+147

+5.3%

5,466

5,500

+33

+0.6%

Asia

2,034

2,743

+709

+34.9%

4,243

5,500

+1,256+29.6%

Americas

1,958

2,869

+910

+46.5%

3,966

5,000

+1,033+26.0%

Medical-Diagnostics

EuropeSemiconductor

3,646

4,371

+725

+19.9%

7,358

9,000

+1,641+22.3%

27,42340,043+12,619+46.0%

56,96781,000+24,032+42.2%

Japan

9,501

11,996+2,495+26.3%

18,511

26,000+7,488+40.5%

Asia

13,071

20,664+7,592+58.1%

28,27038,500+10,229+36.2%

Americas

3,556

4,763

+1,207+34.0%

7,272

11,500+4,227+58.1%

Europe

1,294

2,618

+1,324+102.3%

2,912

5,000

+2,087+71.6%

Scientific

11,367

13,412+2,045+18.0%

26,82529,000+2,174

+8.1%

Japan

3,016

3,432

+415

+13.8%

6,140

7,000

+859

+14.0%

Asia

2,658

3,067

+408

+15.4%

7,413

8,000

+586

+7.9%

Americas

3,237

4,188

+950

+29.4%

7,632

8,000

+367

+4.8%

Europe

2,453

2,725

+271

+11.1%

5,638

6,000

+361

+6.4%

84,975

101,317+16,341+19.2%

187,080

220,000+32,919+17.6%

Japan

29,39031,567+2,177+7.4%

57,67664,000+6,323+11.0%

Asia

26,25135,389+9,137+34.8%

61,52274,500+12,977+21.1%

Americas12,13515,300+3,164+26.1%

28,28234,500+6,217+22.0%

Europe17,19819,060+1,861+10.8%

39,59847,000+7,401+18.7%Total

14

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

Amount : Millions of yen

12/2020 Results

Net Sales
Operating Income

12/2021

1Q

2Q

3Q

4Q

1Q Results

2Q Results

2H Forecasts

44,99739,97844,81557,28948,582

52,734

118,682

3,895

2,781

4,291

8,726

5,936

7,133

15,430

8.7%

7.0%

9.6%

15.2%

12.2%

13.5%

13.0%

3,906

2,870

4,022

8,600

5,885

7,161

14,952

8.7%

7.2%

9.0%

15.0%

12.1%

13.6%

12.6%

2,287

2,573

2,665

5,662

3,900

4,844

9,755

Net Income Ratio

5.1%

6.4%

5.9%

9.9%

8.0%

9.2%

8.2%

US$
Euro

108.86120.08107.60118.54106.19124.17104.39124.73106.09127.81109.55131.97110.18130.11

Operating Income Ratio

Ordinary Income
Ordinary Income Ratio

Net Income Attributableto Owners of Parent

6. Consolidated Segment Results (Quarterly Comparison)
Net Sales

Amount : Millions of yen

12/2020 Results

12/2021

1Q

2Q

3Q

4Q

1Q Results

2Q Results

2H Forecasts

Automotive

14,87012,23814,51522,29012,153

12,77039,075

Process&Environmental

4,595

4,078

4,125

5,538

5,224

4,816

10,959

Medical-Diagnostics

5,749

4,653

4,875

5,757

6,302

6,593

12,103

Semiconductor

13,847

13,576

14,333

15,21018,441

21,602

40,956

Scientific

5,935

5,431

6,965

8,492

6,461

6,951

15,587

Total

44,99739,97844,81557,28948,582

52,734

118,682

Operating Income

12/2020 Results
1Q

2Q

Automotive

322

Process&Environmental

250

Medical-Diagnostics

156

Semiconductor

3,241

ScientificTotal

12/2021

3Q

(591)

4Q

1Q Results

2Q Results

2H Forecasts

(424)

(763)

2,187

204

2,530

188

323

876

699

414

385

(231)

(405)

54

164

162

173

3,177

3,479

4,153

5,257

7,093

11,648

(75)

238

688

1,111

239

224

1,035

3,895

2,781

4,291

8,726

5,936

7,133

15,430

Contact
Corporate Planning and Investor Relations, Corporate Planning Office, General Administration Division, HORIBA, Ltd.
2, Miyanohigashi-cho, Kisshoin, Minami-ku, Kyoto 601-8510, Japan
E-mail: ir-info@horiba.com

15

HORIBA, Ltd. (Consolidated)