Financial Information
HORIBA, Ltd.
August, 2020
(This material was prepared for the 2020Q2 financial results briefing performed on the 20th Aug., 2020)© 2020 HORIBA, Ltd. All rights reserved.

1

Contents
2020 First Half Results2020 Forecast
Outlines by Business Segments
Our Contribution to Social Issues
Topics of 2020 First HalfShareholder Return
Financial Data
Corporate Profile© 2020 HORIBA, Ltd. All rights reserved.

2

Contents
2020 First Half Results2020 Forecast
Outlines by Business Segments
Our Contribution to Social Issues
Topics of 2020 First HalfShareholder Return
Financial Data
Corporate Profile© 2020 HORIBA, Ltd. All rights reserved.

3

Review of 2020 First Half Economic contraction, driven by COVID-19 effects

External  Downturn in the automotive industry
Events  Gradual recovery in capex by semiconductor makers
 Heightened interest in life science Continued business activities as much as possible

Internal
Eventsdespite the COVID-19 restrictions on public movement invarious countries

 Implemented various emergency measures© 2020 HORIBA, Ltd. All rights reserved.

4

2020 First Half Results(Billons of Yen)

2020

2019
1st half
Forecast

1st half
Results(as of Jun. 9)

1st half
Results

vs
2019

vs
Forecast

Sales

91.6

84.0

84.9

-6.6

+0.9

Operating Profit

8.2

5.5

6.6

-1.6

+1.1

O.P.%

9.0%

6.5%

7.9%

-1.1p

+1.4p

Ordinary Profit

8.0

5.5

6.7

-1.2

+1.2

Net Income Attributableto Owners of Parent

5.7

4.0

4.8

-0.9

+0.8

USD/JPY

110.06110.00108.23

-1.83

-1.77

EUR/JPY124.32120.00119.31

-5.01

-0.69

© 2020 HORIBA, Ltd. All rights reserved.

5

2020 First Half Results by Segment
Operating Profit

Sales
2020

2019
1st half
Results

1st half
Forecast(as of Jun. 9)(Billons of Yen)

1st half
Results

2020

2019
vs
2019

vs
Forecast

1st half
Results

1st half
Forecast(as of Jun. 9)

1st half
Results

vs
2019

vs
Forecast

Auto

34.3

26.5

27.1

-7.2 +0.6

1.5

-1.3

-0.2

-1.8 +1.0

P&E

9.1

8.5

8.6

-0.4 +0.1

0.6

0.2

0.4

-0.2 +0.2

Medical

12.6

11.0

10.4

-2.2

-0.5

0.7

0.1

-0.0

-0.7

-0.1

Semi

22.7

26.0

27.4 +4.7 +1.4

5.3

6.5

6.4 +1.0-0.0

Scientific

12.6

12.0

11.3

-1.3

-0.6

-0.0

-

Total

91.6

84.0

84.9

-6.6 +0.9

8.2

5.5

© 2020 HORIBA, Ltd. All rights reserved.

0.1 +0.2 +0.1
6.6

-1.6 +1.1
6

2020 First Half Results （B/S, CF）
Total assets were ¥309.6bn, down ¥5.4bn, owing to decreasein trade notes and accounts receivable.

B/STotal liabilities were ¥140.5bn, down ¥2.9bn, due to decreasein accounts payable.
Equity ratio: 54.4%

CF© 2020 HORIBA, Ltd. All rights reserved.

(compared to the end of Dec. 2019)

Operating CF: Cash in ¥15.3bn due to operating
profit and collection of accounts receivable.
Investing CF: Cash out ¥5.0bn due to acquisitionof tangible fixed assets.
Financial CF: Cash out ¥3.0bn due to payment ofdividend.

Free CF＋ ¥10.3bn

7

Contents
2020 First Half Results2020 Forecast
Outlines by Business Segments
Our Contribution to Social Issues
Topics of 2020 First HalfShareholder Return
Financial Data
Corporate Profile© 2020 HORIBA, Ltd. All rights reserved.

8

2020 Forecasts
General【Impact of COVID-19】
Economic activities are expected to resume after lifting of restrictions but the futureremains uncertain.
Lingering impacts from COVID-19 are of concern.

Auto

The spread of COVID-19 is likely to depress automotive sales.
Automotive-related manufacturers are expected to reduce R&D spending.

P&E

Emerging countries may slow down introduction of environmental regulations.
Falling crude oil prices may result in reduction in investment by the oil industry.

Medical
Semi
Scientific© 2020 HORIBA, Ltd. All rights reserved.

The number of tests performed at hospitals is projected to continue declining, alongwith an anticipated decrease in the number of patients who visit hospitals.
Semiconductor manufacturers’ capital expenditures are expected to pick up.
Medium- to long-term demand for semiconductors is solid.

Energy-related demand will be sluggish, while demand in the pharmaceutical and life
science sectors will be solid.
Demand for semiconductor-related measurement technologies is expected to grow.
9

Exchange rate

(Yen)

2019
1st half

2020

Full year

Previous
Forecast(as of Jun. 9)

Results
1Q

2Q

1H

2H

USD

110.06109.03110108.86

107.60108.23105.77EUR

124.32122.03120

120.08118.54119.31120.69Forecast(as of Aug. 11)

107
120

1 yen O.P. sensitivity for 2020 Forecast (Yen appreciation/Full year)
USD -210 million yen
EUR -10 million yen© 2020 HORIBA, Ltd. All rights reserved.

10

2020 Forecast(Billons of yen)

2020

2019
Results

Previous
Forecast(as of Jun. 9)

Forecast(as of Aug. 11)

vs
2019

vs
Previous
Forecast

Sales

200.2

187.0

188.0

-12.2

+1.0

Operating Profit

20.9

15.0

15.0

-5.9

-

O.P.%

10.4%

8.0%

8.0%

-2.4p

-0.0p

Ordinary Profit

20.5

14.5

14.5

-6.0

-

Net Income Attributableto Owners of Parent

15.4

10.5

10.5

-4.9

-

367
9.3%

248
6.1%

248
6.1%

-118

-0

-3.2p

-

Net Profit per Share (Yen)ROE© 2020 HORIBA, Ltd. All rights reserved.

11

2020 Forecast by Segment(Billons of yen)

Sales
2020

2019
Results

Operating Profit

Previous
Forecast(as of Jun. 9)

Forecast(as of Aug. 11)

2020

2019
vs
2019

vs
Previous

Results

Forecast

Previous
Forecast(as of Jun. 9)

Forecast(as of Aug. 11)

vs
2019

vs
Previous
Forecast

Auto

81.0

68.0

68.0 -13.0

-

6.4

0.5

0.5

-5.9

-

P&E

19.5

17.5

17.5

-2.0

-

1.6

0.5

0.5

-1.1

-

Medical

25.3

23.0

22.0

-3.3

-1.0

1.3

0.2

-

-1.3

-0.2

Semi

47.1

52.5

54.0 +6.8 +1.5

10.7

13.5

13.5 +2.7-

Scientific

27.1

26.0

26.5

-0.6 +0.5

0.7

0.3

0.5

-0.2 +0.2

Total

200.2

187.0

188.0 -12.2 +1.0

20.9

15.0

15.0

-5.9

© 2020 HORIBA, Ltd. All rights reserved.

12

Contents
2020 First Half Results2020 Forecast
Outlines by Business Segments
Our Contribution to Social Issues
Topics of 2020 First HalfShareholder Return
Financial Data
Corporate Profile© 2020 HORIBA, Ltd. All rights reserved.

13

Auto

First Half Results and 2020 Forecasts【Half Year】 Sales and O.P.

2020 First Half Results
EMS, MCT
-

Sales
O.P.

1

Delayed shipment and acceptance of products because ofmeasures to restrict the movements of people and goods by
various countries and regions
ECT-(Billions of yen)

2

Stagnant operations due to restrictive measures
1: Mechatronics

2: Engineering Consultancy & Testing2020 Full Year Forecast

Forecast【Full Year】 Sales and O.P.

Sales
O.P.

EMS, MCT, ECT-

To be impacted by reduction in R&D spending by automotiverelated manufacturers.

＋

Expect diversification of powertrains for next-generation
3
vehicles and acceleration of CASE to boost R&D in themedium- to long-term.

© 2020 HORIBA, Ltd. All rights reserved.

3: Abbreviation of Connected, Autonomous, Shared, and Electric

Forecast

14

P&E

First Half Results and 2020 Forecasts

2020 First Half Results【Half Year】 Sales and O.P.

(Billions of yen)
Sales
O.P.

【Stack gas analyzers, Air quality monitoring, Process】- Sales decrease in Japan, owing to COVID-19 effects＋ Increase in production of Infrared Thermometers【Water quality】- Sales decrease in Asia, owing to the spread of COVID-19
Forecast

2020 Full Year Forecasts【Full Year】 Sales and O.P.

Sales
O.P.

【Stack gas analyzers】＋ Expect an increase in replacement demand in Japan.

【Water quality】- Demand will remain sluggish in Asia and also be sluggish in Japan.

【Process measurement equipment】- Demand will remain sluggish due to falling crude oil prices.
© 2020 HORIBA, Ltd. All rights reserved.

Forecast

15

Medical First Half Results and 2020 Forecasts【Half Year】 Sales and O.P.

2020 First Half Results-(Billions of yen)
Sales
O.P.

The number of tests performed at hospitals decreased
as the spread of COVID-19 led to a decrease in thenumber of patients who visit hospital; consequently,
segment sales decreased.

2020 Full Year Forecasts

Forecast

Sales

The number of tests performed at hospitals is projected tocontinue declining, along with an anticipated decrease in
the number of patients who visit hospitals.
＋ Demand will recover in the medium- to long-term; sales tothe domestic practitioner market and the hospital market
are expected to expand.
＋ Demand for a new product, Banalyst,* is expanding.
-【Full Year】 Sales and O.P.

* Blood glucose/HbA1c measurement equipment© 2020 HORIBA, Ltd. All rights reserved.

O.P.

Forecast

16

Semi

First Half Results and 2020 Forecasts

2020 First Half Results【Half Year】 Sales and O.P.

(Billions of yen)
Sales
O.P.

＋ Demand fell from the memory chip bubble level in 2018,

bottomed out in 2019, and entered a recovery trend.
＋ Increase in demand for high-performance PCs and data centers

associated with the expansion of telework and digital business.

2020 Full Year Forecasts＋ Bookings and sales to semiconductor manufacturing equipment

Forecast【Full Year】 Sales and O.P.

Sales
O.P.

makers are expected to remain at high levels due to further
miniaturization and 3D-integration.
＋ From a medium- to long-term perspective, semiconductor demand

will increase due to the progress of 5G and IoT.
＋ Demand for various monitoring technologies will increase as

manufacturing processes become complicated.
© 2020 HORIBA, Ltd. All rights reserved.

Forecast

17

Scientific First Half Results and 2020 Forecasts
2020 First Half Results-

Sales of Raman Spectrometers decreased in Japan as the
spread of COVID-19 depressed corporate activities.

-

Academic demand was also sluggish worldwide.

＋

Operating income increased, due to reduction in selling andother expenses.

2020 Full Year Forecasts【Half Year】 Sales and O.P.

(Billions of yen)
Sales
O.P.

Forecast【Full Year】 Sales and O.P.

Sales
O.P.

＋ Expect an increase in demand for optical components forsemiconductor production equipment manufacturers and life
science purposes.
＋ Expect demand expansion in life science research such as

pharmaceuticals.
＋ Will launch a new product of Raman Spectrometers, "LabRAM

Soleil™”© 2020 HORIBA, Ltd. All rights reserved.

Forecast

18

Contents
2020 First Half Results2020 Forecast
Outlines by Business Segments
Our Contribution to Social Issues
Topics of 2020 First HalfShareholder Return
Financial Data
Corporate Profile© 2020 HORIBA, Ltd. All rights reserved.

19

HORIBA’s Contribution to Social Issues
Social issues revealed by the spread of COVID-19
Solution

Three fields where HORIBA is focusing
MarketEnergy &Environment

Bio & Healthcare

Materials &Semiconductor

Main Target

Mobility, Power generation,
Environmental preservation,
Water

Clinical diagnostic,
Pharmaceutical, Drugdiscovery, Cells, DNA

Advanced materials,
Materials for semiconductor

Market Oriented Business
Mid-Long Term Management Plan “MLMAP2023”© 2020 HORIBA, Ltd. All rights reserved.

20

MLMAP2023-Market Oriented Business : Bio & Healthcare

Cooperation with SHIMADZU
Alliance for development and sales of measurement equipment “LC Raman”

Separation

LC© 2020 HORIBA, Ltd. All rights reserved.

Collection

Integrated software
Controlling &monitoring

Raman spectroscopy
Measurement

Raman Spectrometers

Raman Intensity

Separation and collection ofsubstances in mixture

400

600

800

1 000

1 200

1 400

1 600

1 800

Raman shift (cm-¹)

21

MLMAP2023-Market Oriented Business : Bio & Healthcare

Creating Solutions by Cooperation with SHIMADZU
Development of applications in the drug discovery, food, and agricultural fields

Quantitative
accuracy oftargetsubstances

LC

Raman spectroscopy〇

×Extract only the target tobe measured frommixed samples

Not good at measuring
mixed samples

×〇

Not good at identifying
non-target substances

Ability to identify unknown
substances from differences inmolecular structure

Ability toestimate
unknown
substances

LC Raman

Integration of LC and Raman enables the following:

Expand fields that utilize
life science technologies

Necessities of newtechnologies in the materials
and energy fields• Search and collection of naturally-derived unknown functional substances → Apply for unknown compounds of drug discovery, food, agriculture, etc.
• Supporting new bio-markers’ search for biological samples→ Develop new health indicators and diagnostic methods• Support work on the structure of new materials and byproducts→ Develop highly-functional and low-environmental-impact materials© 2020 HORIBA, Ltd. All rights reserved.

22

MLMAP2023-Market Oriented Business : Bio & Healthcare

Our response to COVID-19
Joint development of COVID-19 antibody test chips
Part of the project "Development of a system for COVID-19 reliable rapid diagnosis"(Supported by METI and Japan Medical Research and Development Organization)AIST

HORIBA

VisGene*Established high-speed andhighly-accurate immunoassay

Develop equipment

Develop measurement
application(to be used as a practical medical
device)(measurement in 15 minutes at minimum)* VisGene, Ltd. (Osaka U. venture)

Utilizing technologies developed by HORIBA

ImmunoassayAn assay method that takes
advantage of the property that theantibody formed in the animal bodyand its antigen specifically react

Reagents for measuring pesticides by immunoassay
measurement kit SmartAssay series

In-Vitro-Diagnostics
Various tests to be performed on
samples collected from thehuman body, such as blood

Centrifugal blood analyzer
Yumizen M100 Banalyst

Aiming for launch as a fully-automatic measuring equipment© 2020 HORIBA, Ltd. All rights reserved.

23

MLMAP2023-Market Oriented Business: Materials & Semiconductors

High value-added solutions for semiconductor
manufacturing processes
A key point for improvement in yield: Detection of foreign substances
Expecting business expansion in the EUV process
Semicon. manufacturing processes

HORIBA’s response

Reticle/mask
manufacturing process

Blank mask inspection
Inspection of three surfaces(Pattern, Glass, Pellicle)

Photolithography/
wafer process

Pellicle inspection
Various mask sizes/
board inspection

A clean product adjustment room started operation
 Area to develop prototypes andproduce special products by the PRPD Series foreign substanceinspection equipment
 Started operation at HORIBA’s
headquarters in June 2020
© 2020 HORIBA, Ltd. All rights reserved.

PR-PD3EP
High-accuracy detection offoreign substances on EUVprocess pellicles

PR-PD2BLI
Inspection of blank masks at
various stages of the mask
manufacturing process【Representative products】
24

MLMAP2023-Market Oriented Business : Energy & Environment

HORIBA’s Thoughts on Energy in Society“Well to Wheel” and “Grid and Mobility” - Energy optimization for entire society

Diversification ofprimary energy sources

Diversification of energy
storage forms

Diversification of
powertrains”Production”, “Transportation”, “Use” - HORIBA contributes to new-energy society
Support for
xEV/autonomous vehicle
Automotive
development
Medical© 2020 HORIBA, Ltd. All rights reserved.

Environmental
monitoring

More efficient semiconductor
manufacturing process

Advanced material
analysis

P&E

Semiconductors

ScientificFiguring out the health of humans as users of energy, and contributing to the evolution of preventive medicines
25

Approach to Capital Investments and R&D
Capital Investment

Construction of a new facility
in China

 Continue strategic investment from a long-term
perspective
Continue large-scale capital investment such as
construction of new facility in China
 Scrutinize renewal investment and others andimplement from the most urgent

Construct in Jiading, Shanghai （Architectural rendering）

Building a new HQ for
HORIBA TECHNO SERVICES

2020 Forecast: ¥17.5bn

R&D Investment

Construct in the same premises as HORIBA HQ,
Kyoto （Architectural rendering）

 Continue investment, looking ahead of demand
recovery period
 Consider priority of investment

2020 Forecast: ¥16.0bn© 2020 HORIBA, Ltd. All rights reserved.

Start operation in 2021
Total cost： approx. ¥9.0bn
New base for development,
production, and after-sales
serviceStart operation in Dec. 2020
Total cost： approx. ¥3.8bn
Promote service business such as
product maintenance and contract
testing by constructing a newcompany building

Construction of a new facility of
HORIBA FuelConConstruct in Magdeburg in Germany（Architectural rendering）



Construction to be completed at
the end of 2021
Total cost： approx. ¥3.5bn
Expand a production area that
responds to demand
26

Contents
2020 First Half Results2020 Forecast
Outlines by Business Segments
Our Contribution to Social Issues
Topics of 2020 First HalfShareholder Return
Financial Data
Corporate Profile© 2020 HORIBA, Ltd. All rights reserved.

27

Shareholder Return
Dividends per share and Share buybacks
2018 Results 145yen [Interim 50yen/Year-end 95yem]
2019 Results 130yen [Interim 50yen/Year-end 80yen]

Ordinary dividend: 125yen
Commemorative dividend forthe 65th anniversary of thecompany foundation: 20yen

2020 Forecasts 75yen [Interim 30yen/Year-end 45yen]（remains unchanged from disclosure on 9th June）

Basic policy© 2020 HORIBA, Ltd. All rights reserved.

 Dividend payment + Share buyback = 30% of Consolidated net profit to be targeted Remaining earnings are retained internally for strategic investment (i.e. facilities, M&A)

28

Contents
2020 First Half Results2020 Forecast
Outlines by Business Segments
Our Contribution to Social Issues
Topics of 2020 First HalfShareholder Return
Financial Data
Corporate Profile© 2020 HORIBA, Ltd. All rights reserved.

29

Operating Profit Analysis (vs 2019)(Billions of yen)

2019

2020

Jan. – Jun.

Jan. – Jun.

Decrease
Sales

8.28

-4.98

Decrease
Cost of Goods
Sales

Exchange
Impact for
Gross Profit

Exchange
Impact for
Expenses

+2.33

-0.81

+0.47

Decrease -2.64
Gross Profit

Exchange-0.34
ImpactDecrease
R&D Cost+0.33

Decrease
Other
Expense

6.67

+1.04

Decrease+1.37
Expenses

Decrease Operating Profit -1.60© 2020 HORIBA, Ltd. All rights reserved.

30

Impact of Fluctuation in Foreign exchange
Exchange rate impact (2020 First Half results)
Sales -¥1.64bn O.P. -¥0.34bn
2020 First Half results

vs 2019

Decrease Sales
Decrease Cost of Goods Sales
Decrease Expenses
Impact to Operating Profit(Yen) 2019 1st Half 2020 1st Half
USD
110.06108.23EUR
124.32
119.31© 2020 HORIBA, Ltd. All rights reserved.

- 1.64+ 0.83+ 0.47- 0.34
Diff.
-1.83
-5.01

Exchange rate impact
for 2020 Forecast
1 yen impact of Sales and O.P.
(Yen appreciation)

USD
EUR

Sales
-¥0.46bn-¥0.32bn

Operating Profit
USD-¥0.21bn
EUR-¥0.01bn
(Yen)
USD
EUR

2020 Forecast
107.00120.0031

Capital Investment, Depreciation, R&D
2020

2019

Results

Previous
Forecast(as of Feb. 14)

Forecast(as of Aug. 11)

vs
2019

vs
Previous
Forecast(Billions of yen)
2019

2020

1st half
Results

1st half
Results

Capital Investment

12.8

20.0

17.5

+4.6

-2.5

5.1

6.1

Depreciation

8.7

9.5

9.5

+0.7

-

4.2

4.7

R&D

16.2

17.5

16.0

-0.2

-1.5

8.2

7.8

8.1%

8.1%

8.5%

+0.4p

+0.4p

9.1%

9.2%

(To Net Sales)

2020
Topics-PP&E:
Enhance the base of service business, investment to HORIBA
MIRA, HORIBA FuelCon’s new facility, a new facility in China
Scrutinize urgency and priority and make investment decisions© 2020 HORIBA, Ltd. All rights reserved.

32

Consolidated Cash Flows(Billions of yen)2020
1st Half

2019
1st Half

Variation

Cash flows from operating activities+15.38+13.84+1.53

Cash flows from investing activities

-5.00

-4.26

-0.73

Cash flows from financing activities

-3.09

-7.26

+4.16

Cash and cash equivalents at end of year

102.3864.64+37.74

Free cash flows+10.38

+9.58

+0.80

© 2020 HORIBA, Ltd. All rights reserved.

33

Cash Balance(Consolidated basis, each end of period)(Billions of yen)

Total Loan Balance
70.7

70.3

Bond
redemption¥15.0bn(Oct. 2020)

44.0

42.0
Cash*
58.9

Bonds
15.0

Long
18.7
Short 8.3

2017
239％
57％

Cash*
63.6

Cash*
95.6

Bonds
45.0

Cash*
102.5

¥15.0bn
Bonds
45.0

Bonds
15.0

Long
17.0
Short 12.0

2018
246％
58％

(2026)¥15.0bn(2029)

Long
16.8

Long
16.6

Short 8.4

Short 9.0

2019
245％
54％

2020 end of Jun.
248％
54％

Borrowed from
JBIC
¥15.1bn(redemption 2022)
Current ratio
Capital ratio

・Reduction of external borrowing through intra-group lending
・Recent issuer rating: R&I “A”(Oct. 2019), JCR “A+” (Aug. 2020)
Cash*…Cash and bank deposit at end of period© 2020 HORIBA, Ltd. All rights reserved.

34

Contents
2020 First Half Results2020 Forecast
Outlines by Business Segments
Out Contribution to Social Issues
Topics of 2020 First HalfShareholder Return
Financial Data
Corporate Profile© 2020 HORIBA, Ltd. All rights reserved.

35

Business Segments
Automotive
Test Systems

Process &Environmental

Scientific14%

Net Sales
200.2 billion yen

Automotive
Semiconductor

40%

23%
Medical P&E

Sales by business segment (%)
Fiscal 2019
© 2020 HORIBA, Ltd. All rights reserved.

Medical

Semiconductor

ScientificExpanding in New
Domains and Moving
onto a New Stage

13% 10%36Global Network(as of Dec 2019)

Sales

Sales

Sales

Sales

22%

31%

31%

16%

Europe

Asia

Japan

Americas

Other
Europe2%

Americas

2%
USA
10%
Japan

Germany

38%

10%
UK
10%
France11%

Employees by Region

Other
Asia

17%

© 2020 HORIBA, Ltd. All rights reserved.

The number of companies

Americas993 （12％）7

Europe2,771 （33％）

23

Asia

4,524 （55％）

19 (4 in Japan, Including HORIBA, Ltd.)

Total

8,288

49
37

HORIBA’s Steady GrowthFiscal year ending Dec. 2019
Net sales: 200.2 billion yen
Operating profit: 20.9 billion yen

Moving on to
the next
stage with
our new MidLong Term
Management
Plan

1953
HORIBA, LTD. wasestablished

1960

1970

Founded business as
student entrepreneur
President

Masao Horiba© 2020 HORIBA, Ltd. All rights reserved.

1980

1990

2000

2010

Developed globally
successful products

Expanded businessglobally through M&A

Moving on to thenext stage with
our new management

Masahiro Oura

Atsushi Horiba

Masayuki Adachi
38

HORIBA MIRA Ltd.
HORIBA BIWAKO E-HARBOR© 2020 HORIBA, Ltd. All rights reserved.

39

HORIBA MIRA Ltd.
Providing Engineering Service with World Leading Mobility Development
Capability and R&D Location with Dedicated Facilities and Proving Ground
Business Offering

Established
Head office
Major locations© 2020 HORIBA, Ltd. All rights reserved.

1. Vehicle development engineering
2. Test engineering
3. MIRA Technology Park
(Providing Unique R&D Location)
1946
Nuneaton, Warwickshire, UK
U.K., China, and India

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MIRA Technology Park
Various experiments using a large test course

MIRA Technology Park
30 customers

Test Site“35” Test Site
Wind Tunnels / EMC / Crash
lab/NVH Chassis/Battery test

© 2020 HORIBA, Ltd. All rights reserved.

1km

Proving ground• Performance(4.5km)• Off road
• Wet surface• City Circuit• Noise-Generating• Ride & Durability
Transmission test
Braking systems
Tire development
Durability
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HORIBA BIWAKO E-HARBOR
 Consolidating development, design, and production operationsof gas measurement equipment at a single location
 Doubling of production capability and shortening delivery time
to one-third by using a new production methodology
 Comprehensive engineering services from sales to development, production, andmaintenance in the Automotive testing laboratory• Profitability improvement of exhaust gas analyzers• Presenting cutting edge automotive development technology

Total investment: 10.0 billion yen, Location: Otsu City, Shiga Prefecture, Full operation : May 2016
© 2020 HORIBA, Ltd. All rights reserved.

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HORIBA BIWAKO E-HARBOR© 2020 HORIBA, Ltd. All rights reserved.

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© 2020 HORIBA, Ltd. All rights reserved.

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Thank youCảm ơn감사합니다

ありがとうございましたDziękuję

Grazieधन्यवाद

Merci谢谢ขอบคุณคร ับநன்றObrigadoΣας ευχαριστούμε

Tack ska ni haБольшое спасибо

Danke© 2020 HORIBA, Ltd. All rights reserved.

Gracias45