FLASH REPORT
November. 6, 2018
Company name (official) : KYB Corporation

URL https://www.kyb.co.jp/english/

Stock listing: Tokyo Stock Exchange (First Section)

Code number: 7242

Address of head office: World Trade Center Bldg., 4-1, Hamamatsu-cho 2-chome, Minato-ku, Tokyo 105-6111, Japan

Telephone: +81 3- 3435- 3541

For further information, please contact : Hiroshi Yamada, General Manager, Finance Dept.
The following statements are an English-translation of the original Japanese-language document for your convenience.
In the case that there is any discrepancy between Japanese and English versions, Japanese version is assumed to be correct.
(All amounts are rounded to the nearest million yen, unless otherwise noted.)

1. Consolidated financial results for the six months ended September 30, 2018
( from April 1, 2018 to September 30, 2018 )(1) Consolidated operating results(Percentages indicate the change of the same period of the previous year)

Net sales
Six months ended

Millions of yen

Segment profit%

Millions of yen

Operating profit%

Millions of yen%

September 30, 2018

202,789

7.0

9,468

(11.5)(11,300)－

September 30, 2017

189,448

9.3

10,69829.1

11,04860.8

Six months ended

Profit for the period

Profit attributable toowners of the parent

Comprehensive
income for the period

Millions of yen

Millions of yen

Millions of yen%

September 30, 2018(11,789)－

September 30, 2017

7,548

29.4

%

(11,972)

－

7,239

28.9

(10,911)
13,415%－－

Profit before taxes
Millions of yen%(12,369)－

10,902

60.3

Basic earnings
per share
Yen(468.67)
283.39Diluted earnings
per share
Six months ended
September 30, 2018
September 30, 2017

Yen

－
－

*We carried out 1-for-10 reverse stock split on the effective date of October 1, 2017. Therefore basic earnings per share is calculated
assuming that the reverse stock was carried out at the beginning of the previous consolidated fiscal year.
*We started to include ‘Royalty income’ and ‘Income related to mold compensation’ intothe ‘Net sales’ in Consolidated Statements of Income from this first quarter of this fiscal year, which were previously includedin ‘Other income’. Financial information for the previous fiscal year has been revised to reflect this change.
*Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from sales.

(2) Consolidated financial position

As of
September 30, 2018
March 31, 2018

Total assets

Total equity

Equity attributable toowners of the parent

Millions of yen

Millions of yen

Millions of yen

411,545
412,493

173,375
186,651

167,029
180,225

1

Ratio of equity
Equity attributable toattributable toowners of the parent
owners of theper share
parent to total assets
%
Yen

40.6
43.7

6,538.88
7,055.40

2. Cash dividends
Annual cash dividends per share
End of firstquarter

End of second
quarter

End of third
quarter

Yen

Yen

－
－

Yen
Previous fiscal year
Current fiscal year

Year-end

Total

Yen

Yen

－
－

7.00
0.00

Current fiscal year (forecast)

－
－

80.00

－

*Regarding dividends, we recognize the proper return of profits to shareholders as one of the most importantmanagement issues. From FY2017, our target is consolidated dividend payout ratio of 30%.
And we aim to achieve a dividend equal to or more than 2% (annualized) of the dividend on equity ratio (DOE)
on a consolidated basis. Based on this policy, we had planned to pay second quarter dividends of 70 yen per share for the current term.
However, the result in the second quarter of the fiscal year ending March 31, 2019 was significantly lower than
the initial forecast, mainly due to the loss caused by nonconforming acts of seismic isolation/mitigation oil dampers for buildings.
In addition, it is difficult to forecast the impact of future deterioration factors such as cost of exchange work for
replacement products and incidental expenses such as compensation in connection with the implementation of exchange work.
Therefore, we regret to say that we decided not to pay second quarter dividends.
*We carried out 1-for-10 reverse stock split on the effective date of October 1, 2017.
As for cash dividends per share of fiscal year 2017, we disclose the amount after we take the reverse stock split into consideration.
And we disclose total annual cash dividends per share as "-".With taking reverse stock split into consideration,
cash dividends per share for the previous fiscal year were 150.00 yen.

3. Forecasts for the current fiscal year (April 1, 2018 to March 31, 2019)(Percentages indicate the change of the same period of the previous year)

Net sales

Current fiscal year

Current fiscal year

Segment profit

Operating profit

Profit before taxes

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

416,000

5.7

21,300(7.2)

700(96.6)(500)

Profit for the period

Profitattributable toowners of the parent

Millions of yen

Millions of yen(1,800)%－(2,300)%－

Basic earnings
per shareYen(90.04)*We started to include ‘Royalty income’ and ‘Income related to mold compensation’ intothe ‘Net sales’ in Consolidated Statements of Income from this first quarter of this fiscal year, which were previously includedin ‘Other income’. Therefore, the fluctuation ratio is also calculated using the reclassified value with the change.
*Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from sales.

2

%

－

Consolidated Statements of Financial Position
KYB Corporation and its Consolidated Subsidiaries(Unit: Millions of yen)
As of March 31, 2018

As of September 30, 2018

AssetsCurrent assets:
Cash and cash equivalents

42,70235,092

Trade and other receivables

103,881

103,150

Inventories

54,001

58,083

Other current financial assets

1,066

1,456

Other current assets

9,904

8,788

Total current assets

211,554

206,569

161,886

163,543

Non-current assets:
Property, plant and equipment
Goodwill
Intangible assets

268

258

6,692

7,184

Investments accounted for using the equity method

4,342

5,863

Other non-current financial assets

24,731

25,135532

635

Other non-current assets
Deferred tax assets
Total non-current assets
Total assets

3

2,487

2,358

200,938

204,976

412,493

411,545

(Unit: Millions of yen)
As of March 31, 2018

As of September 30, 2018

Liabilities and equity
Current liabilities:
Trade and other payables

82,69584,337

Borrowings

57,09855,311

Income tax payables

1,944

820

Other current financial liabilities

22,76022,660

Provisions

5,438

10,265

Other current liabilities

1,708

576

Total current liabilities

171,643

173,969

Borrowings

34,98636,827

Liabilities for retirement benefits

9,592

9,624

Other non-current financial liabilities

2,255

2,223

Provisions

2,189

11,82721

21

Non-current liabilities:

Other non-current liabilities
Deferred tax liabilities

5,156

3,680

Total non-current liabilities

54,19864,201

225,841

238,170

27,64827,648

Total liabilities
EquityEquity attributable to owners of the parent:
Share capital
Capital surplus

29,414

29,414Retained earnings

114,363

100,349

Treasury shares

(598)

(599)

Other components of equity

9,398

10,218180,225

167,029

6,426

6,345

Total equity

186,651

173,375

Total liabilities and equity

412,493

411,545

Total equity attributable to owners of the parent
Non-controlling interests4Consolidated Statements of Income
KYB Corporation and its Consolidated Subsidiaries(Unit: Millions of yen)
For the six months
ended September 30, 2017
Apr. 1 through Sep. 30, 2017)（

For the six months
ended September 30, 2018
Apr. 1 through Sep. 30, 2018)（

Net sales

189,448

202,789

Cost of sales

150,676

162,560

Gross profit

38,77240,229Selling, general and administrative expenses

28,07430,761Equity in earnings of affiliates

81

10

Other income

1,096

528

Other expenses

827

21,307

11,048(11,300)

Operating profit (loss)
Finance income

377

376

Finance costs

523

1,445

Profit (loss) before taxes

10,902(12,369)

Income tax expenses

3,354

(580)

Profit (loss) for the period

7,548(11,789)

7,239(11,972)

Profit attributable to:
Owners of the parent
Non-controlling interests

308

183

Profit (loss) for the period

7,548(11,789)283.39(468.67)

Earnings per share
Basic earnings (loss) per share (in yen)5Consolidated Statements of Comprehensive Income
KYB Corporation and its Consolidated Subsidiaries(Unit: Millions of yen)
For the six months
ended September 30, 2017
Apr. 1 through Sep. 30, 2017)（
Profit (loss) for the period

For the six months
ended September 30, 2018
Apr. 1 through Sep. 30, 2018)

（

7,548

(11,789)

2,725

266

Remeasurements of defined benefit plans

(1)

(5)

Share of other comprehensive income of investments
accounted for using the equity method

1

3

2,725

264

3,290

756

(52)

(7)

(96)

(134)

3,142

614

Total other comprehensive income

5,867

878

Comprehensive income for the period

13,415(10,911)

12,955(11,151)460

240

13,415(10,911)

Other comprehensive income:Items that will not be reclassified to profit or loss:
Net changes in financial assets measured at fair value throughother comprehensive income

Total
Items that may be reclassified to profit or loss:
Exchange differences on translation of foreign operations
Effective portion of the net changes in the fair value of cash
flow hedges
Share of other comprehensive income of investments
accounted for using the equity method
Total

Comprehensive income for the period attributable to:
Owners of the parent
Non-controlling interests
Comprehensive income for the period

6Consolidated Statements of Changes in Equity
KYB Corporation and its Consolidated Subsidiaries(Unit: Millions of yen)
Share capital
Balance at April 1, 2017

Capital surplus

Retained earnings

Treasury shares

27,64829,414

100,995

(587)

－
－
－

－
－
－

－
－
－
－
－

－
－
－
－
－

－
－
－

－
－
－

(1,720)(2)

Balance at September 30, 2017

27,64829,414

106,514(589)

Balance at April 1, 2018

27,64829,414

114,363

(598)

－
－
－

－
－
－

－
－
－
－
－

－
－
－
－
－

－
－
－

－
－
－

(2,042)(1)

27,64829,414

100,349(599)

Comprehensive income for the period:
Profit for the period
Other comprehensive income
Total comprehensive income for the period

7,239

－
－
－

－

(2)

7,239

－

Transactions with owners:
Contributions by and distributions to owners
in their capacity as owners:
Acquisition of treasury shares
Dividends of surplus
Changes due to business combination
Transfer to retained earnings
Total contributions by and distributions to owners
in their capacity as owners

(0)

－
－
－

(1,720)

(2)

－
－

－
－

(1,788)69

Changes in equity interest of subsidiaries:
Dividends of surplus
Total changes in equity interest of subsidiaries
Total transactions with owners

Comprehensive income for the period:
Loss for the period
Other comprehensive income
Total comprehensive income for the period(11,972)

－
－
－

－

(1)

(11,972)－

Transactions with owners:
Contributions by and distributions to owners
in their capacity as owners:
Acquisition of treasury shares
Dividends of surplus
Changes due to business combination
Transfer to retained earnings
Total contributions by and distributions to owners
in their capacity as owners

2

－
－
－

(2,042)

(1)

－
－

－
－

(2,044)－

Changes in equity interest of subsidiaries:
Dividends of surplus
Total changes in equity interest of subsidiaries
Total transactions with owners
Balance at September 30, 20187

(Unit: Millions of yen)
Other components of equity

Net changes infinancial assets
Remeasurements
measured at fairof definedvalue throughbenefit plansother comprehensive income

Balance at April 1, 2017

8,274

－

Exchangedifferenceson translationof foreign
operations

Effective
portion of
the net changes in
the fair value ofcash flow hedges(1,521)

77

Comprehensive
income for theyear attributableto ownersof the parent

Total
other
componentsof equity

Noncontrollinginterests

Total
equity6,829

164,299

5,472

169,771

7,548

Comprehensive income for the period:

－

－

－

－

－

7,239

308

Other comprehensive income

2,725

0

3,039

(49)

5,715

5,715

152

5,867

Total comprehensive income for the period

2,725

0

3,039

(49)

5,715

12,955460

13,415

－
－
－

0

(0)

Total contributions by and distributions to owners
in their capacity as owners

0

(0)

－
－
－
－
－

－
－
－

Transfer to retained earnings

－
－
－
－
－

(1,788)Changes due to business combination－－－

Total changes in equity interest of subsidiaries

－
－

－
－

Total transactions with owners

0(0)Balance at September 30, 2017

10,999－－－－Balance at April 1, 2018

9,480

－

Loss for the period

－

－

－

Other comprehensive income

266

0

561

Total comprehensive income for the period

266

0

561

Changes due to business combination

－
－
－

－
－
－

Transfer to retained earnings

(1)

(0)

Total contributions by and distributions to owners
in their capacity as owners

(1)

(0)

Total changes in equity interest of subsidiaries

－
－

－
－

Total transactions with owners

(1)

(0)

Balance at September 30, 2018

9,745

Profit for the period

Transactions with owners:
Contributions by and distributions to owners
in their capacity as owners:
Acquisition of treasury shares
Dividends of surplus

(2)

69

0

－

0

(1,722)

－
－
－

－
－

－
－

0

1,518

28

(88)

6

－
－
－
－
－

(2)
(1,788)69－(1,722)

Changes in equity interest of subsidiaries:
Dividends of surplus

(257)

(257)

(257)

(257)

(1,722)(257)(1,978)12,545

175,532

5,676

181,208

9,398

180,2256,426

186,651－－(11,972)183(11,789)

(6)

821

821

57

878

(6)

821

(11,151)240(10,911)

－
－
－
－
－

－
－
－
－
－

－
－
－

(2,044)

－
－
－

－
－
－
－

Comprehensive income for the period:

Transactions with owners:
Contributions by and distributions to owners
in their capacity as owners:
Acquisition of treasury shares
Dividends of surplus

(1)

(2)

－
－

(2)

(2,045)

－
－

－
－

(2)
10,218

－
－
－
－
－

(1)
(2,044)－－(2,045)

Changes in equity interest of subsidiaries:
Dividends of surplus

－

473

8

(321)

(321)

(321)

(321)

(2,045)(321)(2,366)167,029

6,345

173,375

Consolidated Statements of Cash FlowsKYB Corporation and its Consolidated Subsidiaries

For the six months
ended September 30, 2017
Apr. 1 through Sep. 30, 2017)（(Unit: Millions of yen)
For the six months
ended September 30, 2018
Apr. 1 through Sep. 30, 2018)（

Cash flows from operating activities:
Profit (loss) before taxes

10,902(12,369)

Depreciation and amortization

8,183

8,577

425

2,050

327

15

422

14,483

Impairment losses
Increase (decrease) in assets and liabilities for retirement
benefits
Increase (decrease) in provisions for product warranties－(1,189)

(377)

(376)

Finance costs

523

1,445

Equity in profit of affiliates

(81)

(10)

(Increase) decrease in trade and other receivables(6,557)

2,327(Increase) decrease in inventories(1,014)(2,378)

Increase (decrease) in trade and other payables

2,836(3,885)

Increase (decrease) in provision for loss on cancellation of joint
venture agreement
Finance income－

Loss associated with the Anti-Trust law

4,424

Other

183

(1,666)

Subtotal

15,773

11,44732

91

Interest received
Dividends received

555

572

Interest paid

(560)

(524)

Income taxes paid

(2,318)(2,274)

Net cash from operating activities

13,483

9,313

Payment into time deposits

(3)

(446)

Proceeds from withdrawal of time deposits

112

94

(5,549)(10,260)

Cash flows from investing activities:

Payment for purchases of property, plant and equipment
Proceeds from sales of property, plant and equipment

35

160

Payment for purchases of other financial assets

(9)

(19)

Proceeds from sale of other financial assets

82Proceeds from changes in ownership interests in subsidiaries
that result in changes in scope of consolidation
Payment for purchases of Investments accounted for using theequity method

－
－

Other
Net cash flows from investing activities

9841(1,755)(851)(1,169)(6,256)(12,554)For the six months
ended September 30, 2017
Apr. 1 through Sep. 30, 2017)（(Unit: Millions of yen)
For the six months
ended September 30, 2018
Apr. 1 through Sep. 30, 2018)（

Cash flows from financing activities:
Net increase (decrease) in short-term borrowings

1,621

(204)

Repayments of lease obligations

(308)

(275)

Proceeds from long-term borrowings

3,636

7,057

Repayment of long-term borrowings(7,307)(8,524)

Payments for purchase of treasury shares

(2)

(1)

(1,788)(2,044)

Dividends paid to non-controlling interests

(257)

(321)

Net cash flows from financing activities(4,405)(4,312)760(58)

Net increase (decrease) in cash and cash equivalents

3,582(7,610)Cash and cash equivalents at beginning of period

33,98842,702

42－

37,61235,092

Dividends paid

Effect of changes in foreign exchange rates

Increase in cash and cash equivalents resulting
from merger with unconsolidated subsidiaries
Cash and cash equivalents at end of period10Segment InformationKYB Corporation and its Consolidated Subsidiaries

For the six months ended September 30, 2017
(Unit: Millions of yen)
Reportable segment
Automotive
Hydrauliccomponents components

SystemProducts

Others(Note 1)

Subtotal

Adjustment
Consolidated(Note 2)Total

Net sales:
Outside customers
Intersegment sales and transfers
Total
Segment profit

119,59357,445

3,691

180,730

8,718

189,448

－

385

742

184

1,312

27

1,339

(1,339)－119,979

58,1873,876

182,042

8,745

190,787(1,339)189,448

35

10,371

145

10,516

183

10,698

5,131

5,204

Equity in earnings (loss) of affiliates

(41)

121

－

Other income and expenses (net)

440

(79)

5,530

5,246

Operating profit

81

－

(1)

359

(90)

269

－
－

34

10,81055

10,866

183

81

Finance income and costs (net)

189,44881
269
11,048(146)

Profit before taxes

10,902

Notes: 1. “Others” includes “Special-purpose Vehicles”, "Aircraft Components" and “Electronic Equipment”
that are not included in the three of reportable segment.
2. ¥183 million of adjustment of segment profit is the elimination of intersegment transactions.

For the six months ended September 30, 2018
(Unit: Millions of yen)
Reportable segment
Automotive
Hydrauliccomponents components

SystemProducts

Others(Note 1)

Subtotal

Adjustment
Consolidated(Note 2)Total

Net sales:
Outside customers
Intersegment sales and transfers
Total
Segment profit (loss)

123,722

67,224

3,243

194,189

8,599

202,789

－

359

650

75

1,084

50

1,134

(1,134)－

124,081

67,874

3,318

195,274

8,649

203,922(1,134)

202,789

(134)

9,677

(348)

9,329

139

9,468

4,264

5,547

Equity in earnings (loss) of affiliates

(99)

109

－

Other income and expenses (net)(4,334)

29

(169)

5,684

Operating profit (loss)

10－(16,468)(20,774)(5)(16,602)(11,087)(353)

202,789(20,778)－－(20,778)(11,440)

139(11,300)

10

10

Finance income and costs (net)(1,069)Loss before taxes(12,369)

Notes: 1. “Others” includes “Special-purpose Vehicles”, "Aircraft Components" and “Electronic Equipment”
that are not included in the three of reportable segment.
2. ¥139 million of adjustment of segment profit is the elimination of intersegment transactions.

*With regard to the changes of reportable segment*Conventionally, as for "Special-purpose Vehicles ", "Aircraft Components" and "System Products and Electronic Equipment",
as a result of taking into account the quantitative criteria etc. in the reporting segment, they were included in "Others".
We and our subsidiary, Kayaba System Machinery manufacture and sell oil dampers as seismic isolation/mitigation materials
for buildings. Recently, it has come to light that some already shipped seismic isolation/mitigation oil dampers productsthat do not conform to performance evaluation standards approved by the Ministry of Land, Infrastructure,
Transport and Tourism (MLIT), or the standards of our customers where installed in buildings through falsificationof performance inspection record data.
As a result of recording the estimated cost of this case, the "System Products” included in "Others" increased
its qualitative importance, so "System Products" is separated from "Others" from the second quarter in FY2018.
Therefore, we have three reporting segments, "Automotive Components ", "Hydraulic Components" and "System Products".
*We started to include ‘Royalty income’ and ‘Income related to mold compensation’ intothe ‘Net sales’ in Consolidated Statements of Income from this first quarter of this fiscal year, which were previously includedin ‘Other income’. Financial information for the previous fiscal year has been revised to reflect this change.
As a result, "Net sales" and "Segment profit" increased by 517 million yen in the Automotive components
and 39 million yen in the Hydraulic components, respectively.

11

6-Nov-18
KYB Corporation

Second Quarter of FY2018 Financial Results Supplementary Information
1．Breakdown of sales
FY2018 2Q
Sales（¥ million）

Automotive Components

composition ratio
123,72261.0%

Shock absorber for automobiles

85,09242.0%

Shock absorber for motorcycles

14,052

6.9%

Hydraulic equipment for automobiles

21,890

10.8%

Others

2,688

1.3%

67,224

33.1%

Hydraulic equipment for industrial use

63,19831.2%

Others

4,026

2.0%

Special-purpose vehicles, hydraulic equipment for aircraft,and system product and electronic components

11,842

5.8%

Special-purpose vehicles

4,363

2.2%

Hydraulic equipment for aircraft

2,896

1.4%

System products and electronic components, etc.

4,583

2.3%

202,789

100.0%

Hydraulic Components

Total

12

2．FOREX Rate（\）

FY2017
Average FOREX Rate

Apr-Jun 2017

JPY/USD
JPY/EUR
JPY/CNY
JPY/THBJPY/RUB

Apr-Sep 2017111.10122.18
16.21
3.24
1.94

FY2018

Apr-Dec 2017

111.07126.28
16.42
3.28
1.91

Full year

111.70128.52
16.64
3.33
1.92

Apr-Jun 2018110.85129.70
16.74
3.35
1.91

Apr-Sep 2018

109.07130.06
17.12
3.42
1.76

110.26129.84
16.74
3.40
1.73
（\）

FOREX Rate prevailingat the end of quarter

FY201730 Jun 2017

JPY/USD
JPY/EUR
JPY/CNY
JPY/THBJPY/RUB

30 Sep 2017112.00127.95
16.49
3.30
1.89

FY201831 Dec 2017112.74132.81
16.96
3.38
1.94

31 Mar 2018

113.05134.95
17.30
3.46
1.96

30 Jun 2018106.27130.58
16.92
3.40
1.86

30 Sep 2017110.54127.88
16.67
3.33
1.76

3．Segment sales（\ million）

FY2017
1Q

2Q

Automotive Components
Hydraulic Components
Other (*1)
Total

59,662
28,2105,879
93,75259,931
29,235
6,531
95,697

Automotive Components
Hydraulic Components
Other (*1)
Total

1st Half
119,59357,445
12,410189,448

2nd Half
124,132
65,341
14,821
204,294

FY20183Q△ 119,593△ 57,445△ 12,410△ 189,448

FY2017Full year
243,725
122,787
27,231
393,743

4Q

1Q
243,725
122,787
27,231
393,743

2Q
62,81633,741
5,580
102,137

60,90633,483
6,262
100,651

FY2018
1st Half
123,722
67,224
11,842
202,789

4．Segment operating income (*2)（\ million）

FY2017
1Q

2Q

Automotive Components
Hydraulic Components
Other (*1)
Total

FY2018
3Q

3,239
2,865
156
6,260

4Q

2,007
2,394
36
4,438

△ 5,246△ 5,259△ 193△ 10,698

5,372
6,045
834
12,251

Full year
10,61911,304
1,026
22,949FY2017
1st Half
Automotive Components
Hydraulic Components
Other (*1)
Total

2nd Half

5,246
5,259
193
10,698

1Q
10,61911,304
1,026
22,949

2Q
3,138
3,019
△ 555
5,601

1,213
2,575
79
3,867

FY2018
1st Half
4,351
5,594
△ 477
9,468

5．Capital Expenditure, Depreciation（\ million）

FY2017
1Q
Capital Expenditure
Depreciation Expenses

2Q
3,445
4,035

FY2018
3Q

4Q

5,274
4,148

4,182
4,413

9,769
8,804

Full year
18,48816,988FY2017
1st Half
Capital Expenditure
Depreciation Expenses

2nd Half
8,719
8,183

1Q
5,587
4,392

2Q
4,470
4,256

5,454
4,321

FY2018
1st Half
9,924
8,577

6． R&D Expenses（\ million）

FY2017
1Q
R&D Expenses

2Q
1,699

FY2018
3Q

1,703

4Q
2,367

FY2017
1st Half
R&D Expenses

2nd Half
3,401

2Q
1,737

1,810

FY2018
1st Half

Full year
4,700

1Q
2,334

8,102

3,547

7．Foreign Exchange gain or loss (*3)（\ million）

FY2017
1Q
Other Income / Other Expenses
Finance Income / Finance Costs
Total

2Q

FY2018
3Q

244
63
307

317
20
336

561
82
643

2nd Half
△ 298
347
49

4Q
143
35
178

FY2017
1st Half
Other Income / Other Expenses
Finance Income / Finance Costs
Total

113.58132.15
16.50
3.50
1.73

1Q
△ 441
311
△ 129

1Q
89
△ 812
△ 723

FY2018
1st Half

Full year
262
429
692

3
△ 929
△ 926

(*1) "Other" includes "special-purpose vehicles", "Hydraulic equipment for aircraft" and "System Products and Electronic Equipment" thatare not included in the two reportable segments.
(*2) “Segment operating income”, which is described above, is different from “Segment profits (losses)” which is described in “Segment Information”
section in the Flash Report. “Segment operating income” amount includes “Adjustment” amount, which is described in the Flash Report”.
(*3) “Foreign Exchange Gain or Loss” ,which is described above, comes from the amount of foreign exchange gain or loss in “Other income” ,“Other expense”, “Finance income” and “Finance costs” in the Consolidated Statements of Income. Foreign exchange gain is written as plus
and foreign exchange loss is written as minus.

13

△ 85
△ 117
△ 202