<Translation>
February 5, 2018

Consolidated Financial Results for the Nine Months
Ended December 31, 2017 <under Japanese GAAP>
Company Name: YUSHIN PRECISION EQUIPMENT CO., LTD.
Listing:First Section of the Tokyo Stock Exchange
Securities code: 6482
URL:
http://www.yushin.com
Representative: Mayumi Kotani, President and Representative Director
Inquiries:
Masahito Fukui, Executive Officer and General Manager of Corporate Management Department
Tel: +81-75-933-9168 (from overseas)
Scheduled date to submit quarterly report:
February 14, 2018
Scheduled date to commence dividend payments:
Preparation of supplementary materials on the quarterly financial results: None
Holding of quarterly financial results briefing:
None* Disclaimer:This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English
version and the original Japanese version, the Japanese version shall prevail. YUSHIN PRECISION EQUIPMENT CO., LTD. shall accept noresponsibility or liability for damages or loss caused by any error, inaccuracy, misunderstanding or misspelling with regard to this translation.
This translation may be used only for reference purposes. YUSHIN PRECISION EQUIPMENT CO., LTD. maintains the right to claim
compensation from violators for any damage or loss it may suffer from the violation of these conditions.

(Amounts less than one million yen are omitted, unless otherwise noted)

1. Consolidated Business Results for the Nine Months Ended December 31, 2017(from April 1, 2017 to December 31, 2017)(1) Consolidated operating results (Cumulative)(Percentages indicate year-on-year changes)
Net income attributable
Operating income
Ordinary income
to shareholders of theparent companyNet sales
Nine months ended

Millions of yen% Millions of yen% Millions of yen%

Millions of yen%

December 31, 201715,25110.4

1,606(3.5)

1,690

6.7

1,153

2.6

December 31, 2016

13,813(11.0)

1,664(33.2)

1,584(33.4)

1,123(32.6)

Note: Comprehensive income Nine months ended December 31, 2017:
Nine months ended December 31, 2016:

1,416 million yen [ 19.9 %]1,181 million yen [(24.0) %]Net income per share Diluted net income per share
Nine months ended
December 31, 2017
December 31, 2016

YenYen65.95
64.27-(2) Consolidated financial position
Total assets
As of December 31, 2017
As of March 31, 2017

Net assets

Equity ratio

Millions of yen

Millions of yen%

31,78530,761

26,21225,451

81.8
82.1

Reference: Equity capital (Net assets less non-controlling interests)
As of December 31, 2017: 25,990 million yen
As of March 31, 2017: 25,258 million yen

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

2. Cash Dividends
Annual dividends per share
1Q
FY2017FY2018FY2018 (Forecast)

2Q

3Q

Total

4Q

YenYen

Yen

Yen

Yen-

15.00
15.00-

21.00

36.00

18.00

33.00

Note: Revisions to projected dividends most recently announced: None

3. Consolidated Earnings Forecast for the FY2018 (from April 1, 2017 to March 31, 2018)

Net sales

FY2018(Percentages indicate year-on-year changes)
Net income
Net
attributable toOrdinary income
incomeshareholders of theper shareparent company

Operating income

Millions of yen%

Millions of yen%

Millions of yen%

21,000

8.5

2,700

27.8

2,700

31.2

Millions of yen%

Yen

1,900 37.7

108.65

Note: Revisions to projected results most recently announced: None

* Notes(1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries accompanying
changes in scope of consolidation): None
(2) Adoption of the special accounting methods: Yes
Note: Please refer to “2. Quarterly Consolidated Financial Statements and Notes, (3) Adoption of special
accounting methods for preparation of quarterly financial statements” on page 7 of [Attached Material] forfurther information.
(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations:
None2) Changes in accounting policies due to other reasons:None3) Changes in accounting estimates:
None4) Restatement:
None(4) Number of issued shares (Common stock)1) Number of issued shares at the end of the period (including shares of treasury stock)
As of December 31, 2017
17,819,033 shares
As of March 31, 2017
17,819,033 shares
2) Number of shares of treasury stock at the end of the period
As of December 31, 2017
331,927 shares
As of March 31, 2017
331,715 shares
3) Average number of outstanding shares during the periodNine months ended December 31, 2017 17,487,247 shares
Nine months ended December 31, 2016 17,487,700 shares* This quarterly financial information included in this summary is out of scope of quarterly review.
* Cautionary statement with respect to forward-looking statements and other special remarks
The forecasts above are based on the information currently available. A number of factors could cause actual
results to differ materially from expectations. For more information about these assumptions and notes regarding
the use of earnings forecasts, please refer to “1. Qualitative Information on Quarterly Consolidated FinancialPerformance, (3) Explanation on the forecast information including consolidated earnings forecast and others”
on page 2 of [Attached Material].

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)[Attached Material]

INDEX

1. Qualitative Information on Quarterly Consolidated Financial Performance ······································ 2(1) Explanation on the business results ················································································· 2(2) Explanation on the financial condition·············································································· 2(3) Explanation on the forecast information including consolidated earnings forecast and others ············· 22. Quarterly Consolidated Financial Statements and Notes ···························································· 3(1) Quarterly consolidated balance sheets ·············································································· 3(2) Quarterly consolidated statements of income and quarterly consolidated statements of comprehensive
income ··················································································································· 5
Quarterly consolidated statements of income ······································································ 5
Quarterly consolidated statements of comprehensive income ··················································· 6(3) Notes related to quarterly consolidated financial statements ···················································· 7< Notes related to going concern assumption > ····································································· 7< Notes in the event of significant changes in shareholders’ equity > ··········································· 7< Adoption of special accounting methods for preparation of quarterly financial statements > ············· 7< Segment information > ······························································································· 73. Supplemental Information ······························································································· 8(1) Orders, backlog and sales ····························································································· 8(2) Overseas sales ·········································································································· 81YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation on the business results
The world economy during the third quarter ended December 31, 2017, remained in a recovery trend
centering on developed countries. However, it is uncertain on the economy caused by the policies workedout by the US government, geopolitical risk in part of region, and unsure of economics in China and emerging
countries.
In these circumstances, Yushin Group has continued to expand operation in a new business area, todevelop new products and to obtain new world-class customers. Despite sluggish sales of custom-ordered
equipment, the consolidated net sales increased by 10.4% year on year to 15,251 million yen due to thecontinued increase of sales of take-out robots. However, operating income decreased by 3.5% year on year
to 1,606 million yen due to cost for increase in depreciation related to new HQ building and concentrated
R&D expenses in the first half. Ordinary income increased by 6.7% year on year to 1,690 million yen due toforeign exchange gains as a result of the yen dropping in value, and net income attributable to the parent
company increased by 2.6% year on year to 1,153 million yen.
(2) Explanation on the financial condition<Assets>
Total assets increased by 1,023 million yen from the end of the previous fiscal year to 31,785 million
yen. This was mainly due to increase of “Raw materials and supplies” by 1,151 million yen.
<Liabilities>
Total liabilities increased by 262 million yen from the end of the previous fiscal year to 5,572 million yen.
This was mainly due to increase of “Advances received” by 322 million yen.
<Net assets>
Net assets increased by 761 million yen from the end of the previous fiscal year to 26,212 million yen.
This was mainly due to increase of “Retained earnings” by 523 million yen.
(3) Explanation on the forecast information including consolidated earnings forecast and others
No revisions have been made to consolidated earnings forecasts for full year of the FY2018 released onMay 10, 2017.

2YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly consolidated balance sheets(Thousands of yen)

As of March 31, 2017

As of December 31, 2017

Cash and deposits

5,734,493

5,977,254

Notes and accounts receivable - trade

6,479,748

6,577,433

Merchandise and finished goods

769,815

1,085,582

Work in process

884,830

987,475

2,179,141

3,330,277

Deferred tax assets

431,885

383,988Other

890,084

515,708

Allowance for doubtful accounts(21,298)(29,762)

17,348,701

18,827,959

Buildings and structures, net

6,041,212

5,600,443

Land

5,784,160

5,752,795

430,441

376,308

12,255,813

11,729,546

473,285

497,479

Investment securities

220,783

292,080

Net defined benefit asset

292,959

290,707

Other

170,444

168,553

Allowance for doubtful accounts(251)(20,954)

Total investments and other assets

683,936

730,387

13,413,034

12,957,413

30,761,736

31,785,373<ASSETS>
Current assets

Raw materials and supplies

Total current assets
Non-current assets
Property, plant and equipment

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

Total non-current assets
Total assets

3YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(Thousands of yen)

As of March 31, 2017

As of December 31, 2017

2,992,278

3,044,757

Accounts payable - other

750,992

528,645

Income taxes payable

100,112

161,504

Advances received

604,929927,764

Provision for bonuses

252,861

126,000

Provision for directors’ bonuses

22,71028,872

Provision for product warranties

122,870

146,471

Other

253,458

347,982

5,100,213

5,311,997

Provision for directors’ retirement
benefits

66,78066,780Net defined benefit liability

53,85355,315

Deferred tax liabilities

29,73982,056

Other59,431

56,463

Total non-current liabilities

209,805

260,615

5,310,018

5,572,612

Capital stock

1,985,666

1,985,666

Capital surplus

2,023,903

2,023,903

Retained earnings

21,273,290

21,797,082

Treasury stock(353,994)(354,649)

24,928,866

25,452,003

58,545108,032

203,291

362,363

67,69968,044

329,536

538,441

193,315

222,316

Total net assets

25,451,718

26,212,760

Total liabilities and net assets

30,761,736

31,785,373<LIABILITIES>Current liabilities
Notes and accounts payable - trade

Total current liabilities
Non-current liabilities

Total liabilities<NET ASSETS>
Shareholders' equity

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on
available-for-sale securities
Foreign currency translation
adjustment
Remeasurements of defined benefit
Plans
Total accumulated other comprehensive
IncomeNon-controlling interests

4YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(2) Quarterly consolidated statements of income and quarterly consolidated statements ofcomprehensive income
Quarterly consolidated statements of income(Thousands of yen)
Nine months ended
Nine months ended
December 31, 2016
December 31, 2017
Net sales
13,813,418
15,251,785
Cost of sales

8,130,020

8,979,577

Gross profit

5,683,398

6,272,208

Selling, general and administrative expenses

4,018,499

4,665,220

Operating income

1,664,898

1,606,987

Interest income

4,761

4,368

Dividends income

4,683

4,695

Purchase discounts

9,800

11,117-52,448

Subsidy income

11,672-

Other

12,28911,586

Total non-operating income

43,206

84,216857

530

116,673

-

5,829

331

123,361861

1,584,744

1,690,342

Gain on sales of non-current assets

905

5,711

Total extraordinary income

905

5,711

48,909

1,433

-

92

Total extraordinary losses

48,909

1,526

Income before income taxes

1,536,739

1,694,527

Income taxes

389,535

498,451

Net income

1,147,204

1,196,076

23,29342,742

1,123,910

1,153,333

Non-operating income

Foreign exchange gains

Non-operating expenses
Sales discounts
Foreign exchange losses
OtherTotal non-operating expenses
Ordinary income
Extraordinary income

Extraordinary loss
Loss on sales and retirement of non-current
assetsOther

Net income attributable to non-controllinginterests
Net income attributable to shareholders of theparent company

5

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

Quarterly consolidated statements of comprehensive income
Nine months ended
December 31, 2016
Net income(Thousands of yen)
Nine months ended
December 31, 2017

1,147,204

1,196,076

Valuation difference on available-for-salesecurities

33,89049,487

Foreign currency translation adjustments

304

170,643

Remeasurements of defined benefit plans, netof tax

(45)

345

34,149220,476

1,181,353

1,416,552

1,155,525

1,362,238

25,82854,313

Other comprehensive income

Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable toshareholders of the parent company
Comprehensive income attributable to noncontrolling interests

6

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(3) Notes related to quarterly consolidated financial statements< Notes related to going concern assumption >None< Notes in the event of significant changes in shareholders’ equity >None<Adoption of special accounting methods for preparation of quarterly financial statements >The effective tax rate on income before income tax for the consolidated fiscal year after the applicationof tax effect accounting is reasonably estimated, and this estimated rate is applied to net income for thequarterly period under review.
Income taxes–deferred are included in income taxes in the consolidated statements of income.
< Segment information >Nine Months of FY2017 (from April 1, 2016 to December 31, 2016)
Information related to sales and profit or loss for each reportable segment(Thousands of yen)
Reportable segment
TotalEurope

Adjustment*1

Amounts
shown onquarterly
consolidated
statements ofincome *2

Japan

U.S.A.

Asia

7,942,648

2,386,574

3,194,568

289,627

13,813,418-

13,813,418

2,839,287

9,220

171,886445

3,020,838(3,020,838)-

10,781,935

2,395,794

3,366,454

290,07216,834,257(3,020,838)

13,813,418

1,029,164

235,281

277,753(13,353)

1,528,845

136,052

1,664,898

Net sales
Sales tocustomers
Inter-segment
sales or transfers
TotalSegment profit*Notes 1: The 136,052 thousand yen adjustment to segment profit includes eliminations for inter-segment
transactions of 39,795 thousand yen and inventory adjustments of 96,257 thousand yen.
*Notes 2: Segment profit is adjusted to be consistent with operating income shown on the quarterly consolidated
statements of income.

Nine Months of FY2018 (from April 1, 2017 to December 31, 2017)
Information related to sales and profit or loss for each reportable segment(Thousands of yen)
Reportable segment
Total
EuropeAdjustment*1

Amounts
shown onquarterly
consolidated
statements ofincome *2Japan

U.S.A.

Asia

8,272,100

2,442,849

3,959,023

577,811

15,251,785-

15,251,785

3,531,388

11,013

216,643

2,199

3,761,244(3,761,244)-

11,803,489

2,453,863

4,175,667

580,01119,013,030(3,761,244)

15,251,785

Net sales
Sales tocustomers
Inter-segment
sales or transfers
Total

Segment profit
840,209239,685
408,728
126,411
1,615,035(8,048)
1,606,987(loss)*Notes 1: The (8,048) thousand yen adjustment to segment profit includes eliminations for inter-segment
transactions of 6,124 thousand yen and inventory adjustments of (14,172) thousand yen.
*Notes 2: Segment profit is adjusted to be consistent with operating income shown on the quarterly consolidated
statements of income.
7YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

3. Supplemental Information(1) Orders, backlog and salesa. Orders
1) Order receivedProducts(Thousands of yen)Nine Months of FY2017

Nine Months of FY2018

Change(%)

Take-out robots

10,016,915

12,314,667

122.9

Custom-ordered equipment

2,674,262

2,953,583

110.4

Parts and maintenance service

2,322,984

2,467,792

106.2

Total

15,014,163

17,736,042

118.1

2) Backlog of orders
Products(Thousands of yen)
As of December 31, 2016

As of December 31, 2017

Change(%)

Take-out robots

2,418,198

3,501,347

144.8

Custom-ordered equipment

1,331,984

2,323,023

174.4

Parts and maintenance service

231,969

327,482

141.2

Total

3,982,1526,151,853

154.5

b. Net sales
Products(Thousands of yen)
Nine Months of FY2017

Nine Months of FY2018

Change(%)

Take-out robots

9,519,868

11,234,253

118.0

Custom-ordered equipment

2,007,452

1,670,471

83.2

Parts and maintenance service

2,286,097

2,347,061

102.7

Total

13,813,418

15,251,785

110.4(2) Overseas sales
Nine Months of FY2017 (from April 1, 2016 to December 31, 2016)
NorthAsia
EuropeAmerica
I Overseas sales

2,730,397

4,692,385(Thousands of yen)
Other areas

490,895

297,789

II Consolidated net salesIII Ratio of overseas sales toconsolidated net sales (%)

19.8

34.0

3.6

2,508,164

5,986,804

2.2

59.4

(Thousands of yen)
Other areas

512,674

400,282

II Consolidated net sales
III Ratio of overseas sales toconsolidated net sales (%)

8,211,468
13,813,418

Nine Months of FY2018 (from April 1, 2017 to December 31, 2017)
NorthAsia
EuropeAmerica
I Overseas sales

Total

Total
9,407,926
15,251,785

16.4

39.3

8

3.4

2.6

61.7