FLASH REPORT
May. 14, 2019
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 : Osamu Kunihara, General Manager, Finance & Accounting Div.
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 fiscal year ended March 31, 2019
( from April 1, 2018 to March 31, 2019 )(1) Consolidated operating results(Percentages indicate the year-on-year changes)

Net salesYear ended

Millions of yen

Segment profit%

Millions of yen%

Operating profit

Profit before taxes

Millions of yen

Millions of yen%

March 31, 2019

412,214

4.7

22,010(4.1)(28,496)－

March 31, 2018393,743

10.5

22,94917.0

20,885

8.5

Profit attributable toowners of the parent

Profit for the year
Year ended

Millions of yen%

March 31, 2019(24,571)－

March 31, 201815,786

4.7

20,881

10.8

Comprehensive
income for the year

Basic earnings
per share

Yen

Yen

－

(28,641)－(969.18)

15,202

4.5

20,1159.7

595.09Ratio of profit
before income taxes
to total assets%－－

March 31, 2018－(24,757)

Yen

March 31, 2019%

Ratio of profit
attributable to ownersof the parent

Diluted earnings
per share
Year ended

Millions of yen%(29,510)

Ratio of operating
profit to sales%%(15.0)

(6.9)

(6.9)

8.8

5.3

5.3

Reference: Share of profit in investments accounted for using the equity method:
Fiscal year ended March 31, 2019:¥320million

Fiscal year ended March 31, 2018: ¥173million*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 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
Total assets

Total equity

Equity attributable toownersof the parent

Ratio of equity
attributable toowners of the parent
to total assets

Equity attributable toowners of the parent
per share

Millions of yen

Millions of yen

Millions of yen%

Yen

March 31, 2019

441,074

155,643

149,33833.9

5,846.39

March 31, 2018

412,493

186,651

180,22543.7

7,055.40

As of(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash andcash equivalents
at the end of year

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2019

17,047(13,616)

10,41856,092

March 31, 201829,252(16,386)(4,482)42,702

Year ended

12. Cash dividends
Annual cash dividends per share
End offirst quarter
Year ended
March 31, 2018
March 31, 2019
March 31, 2020

Yen

－
－
－

End ofsecondquarter

End ofthird quarter

Yen

Yen

－
－
－

7.00
0.00

－

Year-end

Total

Yen

Yen

80.00

－

0.00

0.00

－

Total cash
dividends(Annual)Payout ratio(Consolidated)

Millions of yen

%

3,832

25.2

－

－

Ratio ofdividends
to equity
attributable toowners of theparent(consolidated)

%

2.2

－
－

－

*Regarding dividends, we recognize the proper return of profits to shareholders as one of the most important management 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.
However, regarding the result of the fiscal year ending March 31, 2019, we have recorded large loss for nonconforming acts ofseismic isolation/mitigation oil dampers for buildings. Therefore, we regret to say that we decided not to pay Year-end dividends.
*We carried out 1-for-10 reverse stock split on the effective date of October 1, 2017.
Therefore, As for cash dividends per share of second quarter, we disclose the amount before taking the impact of 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 second quarter were 70.00 yen and cash dividends per share for the previous fiscal year were 150.00 yen.
*The amount of FY 2019 dividends has not been decided.

3. Forecasts for the fiscal year ending March 31, 2020 ( April 1, 2019 to March 31, 2020 )(Percentages indicate the year-on-year changes)

Net sales

Segment profit

Operating profit

Millions of yen%

Millions of yen%

Millions of yen

First half

205,000

1.1

9,600

1.4

8,900

Full year

410,000(0.5)

20,600(6.4)

19,400

Profit for the period

Profitattributable toowners of the parent

Millions of yen

Millions of yen

First half

6,900

Full year

14,600

%

－
－

6,700
14,000

Profit before taxes%－－

Millions of yen

Basic earnings
per share

%

－
－

Yen

262.29548.08*Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from sales.

2

8,200
18,500%－－Consolidated Statements of Financial Position
KYB Corporation and its Consolidated Subsidiaries(Unit: Millions of yen)
As of March 31, 2018

As of March 31, 2019

AssetsCurrent assets:
Cash and cash equivalents

42,70256,092

Trade and other receivables

103,881

107,426

Inventories

54,00159,591Other current financial assets

1,066

1,170

Other current assets

9,904

10,826

Total current assets

211,554

235,105

161,886

161,368

268

264

Intangible assets

6,692

7,532

Investments accounted for using the equity method

4,342

5,570

Other non-current financial assets

24,731

22,983

532

650

2,487

7,602

200,938

205,969

412,493441,074

Non-current assets:
Property, plant and equipment
Goodwill

Other non-current assets
Deferred tax assets
Total non-current assets
Total assets3

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

As of March 31, 2019

Liabilities and equity
Current liabilities:
Trade and other payables

82,69587,189Borrowings

57,09854,255

Income tax payables

1,944

1,128

Other current financial liabilities

22,76024,307

Provisions

5,438

37,876

Other current liabilities

1,708

2,224

Total current liabilities

171,643

206,979

Borrowings

34,98644,046

Liabilities for retirement benefits

9,592

10,807

Other non-current financial liabilities

2,255

8,521

Provisions

2,189

14,178

21

553

Deferred tax liabilities

5,156

346

Total non-current liabilities

54,19878,451

225,841

285,430

Share capital

27,64827,648

Capital surplus

29,414

29,414Retained earnings

114,363

86,536

Treasury shares

(598)

(600)

Other components of equity

9,398

6,340

180,225

149,338

6,426

6,306

Total equity

186,651

155,643

Total liabilities and equity

412,493441,074

Non-current liabilities:

Other non-current liabilities

Total liabilities
EquityEquity attributable to owners of the parent:

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 fiscal year
ended March 31, 2018
Apr. 1, 2017 through Mar. 31, 2018)（

For the fiscal year
ended March 31, 2019
Apr. 1, 2018 through Mar. 31, 2019)

Net sales

393,743

412,214

Cost of sales

312,810330,099

Gross profit

80,932

82,115

Selling, general and administrative expenses

57,98360,104173

320

Other income

1,316

9,778

Other expenses

3,553

60,605

Operating profit (loss)

20,885(28,496)

Finance income

973

839

Finance costs

977

1,853

Profit (loss) before taxes

20,881(29,510)

Income tax expenses

5,096(4,939)Profit (loss) for the year

15,786(24,571)

15,202(24,757)

Non-controlling interests

584

186

Profit (loss) for the year

15,786(24,571)595.09(969.18)

Equity in earnings of affiliates

Profit attributable to:
Owners of the parent

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 fiscal year
ended March 31, 2018
Apr. 1, 2017 through Mar. 31, 2018)

Profit (loss) for the year（

For the fiscal year
ended March 31, 2019
Apr. 1, 2018 through Mar. 31, 2019)15,786(24,571)

1,206(2,613)

1,698(1,000)

(27)

17

2,876

(3,596)

1,333

(1)

(71)

(7)

191

(466)

1,453

(474)

Total other comprehensive income

4,329(4,071)

Comprehensive income for the year

20,115(28,641)

19,445(28,841)

670

200

20,115(28,641)

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
Remeasurements of defined benefit plans
Share of other comprehensive income of investments
accounted for using the equity method
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 year attributable to:
Owners of the parent
Non-controlling interests
Comprehensive income for the year

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

27,64829,414

－
－
－

－
－
－

－
－
－
－
－
－

－

100,995

Treasury shares(587)

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

15,202－

15,202－－－

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

0

(11)
0

1,674

－
－
－

0

(1,834)

(11)

－
－
－
－

－
－
－

－
－
－

－
－
－

0

(1,834)(11)

Balance at March 31, 2018

27,64829,414

114,363(598)

Balance at April 1, 2018

27,64829,414

114,363

(598)

－
－
－

－
－
－

－
－
－
－
－
－

－
－
－
－
－
－

－
－
－
－

－
－
－
－

(3,070)(3)

27,64829,41486,536(600)

Dividends of surplus
Changes due to business combination
Transfer to retained earnings
Total contributions by and distributions to owners
in their capacity as owners

－
－
－

－
－
(3,576)
69

Changes in equity interest of subsidiaries:
Change of non-controlling interests
Dividends of surplus
Total changes in equity interest of subsidiaries
Total transactions with owners

Comprehensive income for the year:
Loss for the period
Other comprehensive income
Total comprehensive income for the year

(24,757)－(24,757)－－－

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

－
－

(3)

(1,027)－－－－(3,070)

(3)

－
－
－

－
－
－

(2,044)－

Changes in equity interest of subsidiaries:
Change of non-controlling interests
Dividends of surplus
Total changes in equity interest of subsidiaries
Total transactions with owners
Balance at March 31, 20197

(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

15,786Comprehensive income for the year:

－

－

－

－

－

15,202584

Other comprehensive income

1,206

1,675

1,433

(71)

4,243

4,243

87

4,329

Total comprehensive income for the year

1,206

1,675

1,433

(71)

4,243

19,445670

20,115

Changes due to business combination

－
－
－
－

－
－
－
－

1

(1,675)

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

1(1,675)

－
－
－
－
－
－

－
－
－
－

Transfer to retained earnings

－
－
－
－
－
－

－
－
－

－
－
－

1

(1,675)

－
－
－
－

－
－
－
－

Profit for the year

Transactions with owners:
Contributions by and distributions to owners
in their capacity as owners:
Acquisition of treasury shares
Disposal of treasury shares
Dividends of surplus(11)0(3,576)69(1,674)－(1,674)(3,518)

－
－
－

－
－
－

－
－
－
－
－
－

(11)
0
(3,576)69－(3,518)Changes in equity interest of subsidiaries:
Change of non-controlling interests
Dividends of surplus
Total changes in equity interest of subsidiaries

541

541

(257)

(257)

284

284

(3,518)284(3,235)9,480－(1,674)

Balance at March 31, 2018

(88)

6

9,398

180,2256,426

186,651

Balance at April 1, 2018

9,480

－

(88)

6

9,398

180,2256,426

186,651

Total transactions with owners

Comprehensive income for the year:

－

－

－

－

－

(24,757)

186(24,571)

Other comprehensive income(2,613)(1,028)

(438)

(6)

(4,085)(4,085)14(4,071)

Total comprehensive income for the year

(2,613)(1,028)

(438)

(6)

(4,085)(28,841)200(28,641)

Changes due to business combination

－
－
－
－

－
－
－
－

(1)

1,028

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

(1)

1,028

－
－
－
－
－
－

－
－
－
－

Transfer to retained earnings

－
－
－
－
－
－

－
－
－

－
－
－

(1)

1,028

－
－
－
－

－
－
－
－
－

Loss for the year

Transactions with owners:
Contributions by and distributions to owners
in their capacity as owners:
Acquisition of treasury shares
Disposal of treasury shares
Dividends of surplus(3)－(2,044)

1,027

－
－

1,027

(2,046)

－
－
－

－
－
－

－
－
－
－
－
－

(3)

－

(2,044)－－(2,046)

Changes in equity interest of subsidiaries:
Change of non-controlling interests
Dividends of surplus
Total changes in equity interest of subsidiaries
Total transactions with owners
Balance at March 31, 2019

6,866

－

(526)

8

－

－

(321)

(321)

(321)

(321)

1,027

(2,046)(321)(2,367)

6,340

149,338

6,306

155,643

Consolidated Statements of Cash FlowsKYB Corporation and its Consolidated Subsidiaries

For the fiscal year
ended March 31, 2018
Apr. 1, 2017 through Mar. 31, 2018)（(Unit: Millions of yen)
For the fiscal year
ended March 31, 2019
Apr. 1, 2018 through Mar. 31, 2019)（

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

20,881(29,510)Depreciation and amortization

16,98817,581

Impairment losses

383

4,840

Reversal gain of impairment losses(31)(2,282)Gain on sales of fixed asset(44)(6,257)

Increase (decrease) in assets and liabilities for retirement benefits

422

(257)

Increase (decrease) in provisions for product warranties

351

35,388－

Increase (decrease) in provisions for loss related defense equipment

7,618

Finance income

(973)

(839)

Finance costs

977

1,853

Equity in earnings of affiliates

(173)

(320)

Loss on sales of investments accounted for using the equity method

367－(Increase) decrease in trade and other receivables(9,820)(5,348)(Increase) decrease in inventories(3,874)(5,020)

Increase (decrease) in trade and other payables

9,745

3,832

Provision for loss on cancellation of joint venture agreement

1,189

58

－

4,323

Other

(2,990)(2,197)

Subtotal

33,39923,462

Interest received

131

203

Dividends received

1,593

1,273

Interest paid

(1,012)(1,063)

Income taxes paid

(4,859)(3,655)

Loss associated with the Anti-Trust law－

Payments of loss associated with the Anti-Trust law
Net cash from operating activities(3,174)29,252

17,047

Payment into time deposits

(203)

(446)

Proceeds from withdrawal of time deposits

136

334

(14,402)(20,442)

Proceeds from sales of property, plant and equipment

99

10,540

Payment for purchases of other financial assets

(24)

(20)

8

2

Cash flows from investing activities:

Payment for purchases of property, plant and equipment

Proceeds from sale of other financial assets

Payment for purchases of Investments accounted for using the equity method－－

Proceeds from sale of investments accounted for using the equity method

286

－

Other

(2,287)(2,670)Net cash flows from investing activities(16,386)(13,616)

Proceeds from changes in ownership interests in subsidiaries
that result in changes in scope of consolidation

9841(1,755)

For the fiscal year
ended March 31, 2018
Apr. 1, 2017 through Mar. 31, 2018)（(Unit: Millions of yen)
For the fiscal year
ended March 31, 2019
Apr. 1, 2018 through Mar. 31, 2019)（

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

3,408(2,019)

Repayments of lease obligations

(589)

(673)

Proceeds from long-term borrowings

9,388

23,650

Repayment of long-term borrowings(13,386)(16,179)

Proceeds from sale and lease back－Proceeds from non-controlling interests

541－

Payments for purchase of treasury shares

(11)

(3)

Proceeds from sales of treasury shares

0－(3,576)(2,044)

Dividends paid to non-controlling interests

(257)

(321)

Net cash flows from financing activities(4,482)

10,418288(459)

Net increase (decrease) in cash and cash equivalents

8,672

13,389Cash and cash equivalents at beginning of year

33,98842,70242－

42,70256,092

Dividends paid

Effect of changes in foreign exchange rates

Increase (decrease) in cash and cash equivalents resulting
from merger with unconsolidated subsidiaries
Cash and cash equivalents at end of year

10

8,006

Segment InformationKYB Corporation and its Consolidated Subsidiaries

For the fiscal year ended March 31, 2018
(Unit: Millions of yen)
Reportable segment
Automotive
Hydrauliccomponents components

SystemProducts

Aircraft
Components

Subtotal

Others(Note 1)

Adjustment
Consolidated(Note 2)Total

Net sales:
Outside customers
Intersegment sales and transfers
Total
Segment profit (loss) (Note 3)

381,375

12,367393,743

－

2,563

104

2,667

(2,667)－

6,354

383,938

12,472396,410(2,667)393,743(216)

21,846785

22,631318

22,949243,725

122,787

8,510

771

1,363

429

－

244,496

124,150

8,939
437

10,421

11,204Equity in earnings (loss) of affiliates

(207)

380

－

Other income and expenses (net)(1,655)(422)

0Operating profit (loss)

8,559

11,163

437

6,354

－

173

－

(111)

(2,188)

(49)

(327)

19,831

736

393,743(2,237)－－(2,237)

20,567318

20,885

173

Finance income and costs (net)

173

(4)

Profit before taxes

20,881

Depreciation and amortization
Impairment loss
Increases of non current-assets (Note 4)

10,936

5,230

301

57

241

－

14,114

5,489

112

120

－

588

16,527467

16,994

(6)

25

383

－

16,988358
20,304701

21,005(48)

20,956

383

Notes: 1. “Others” includes “Special-purpose Vehicles”and Electronic Equipment” that are not included in the four of reportable segment.
2. ¥318 million of adjustment of segment profit is the elimination of intersegment transactions.
3. Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from sales.
4. Non current-assets don't include investments accounted for using the equity method , other non-current financial assets and deferred tax assets.

For the fiscal year ended March 31, 2019
(Unit: Millions of yen)
Reportable segment
Automotive
Hydrauliccomponents components

SystemProducts

Aircraft
Components

Subtotal

Others(Note 1)

Adjustment
Consolidated(Note 2)Total

Net sales:
Outside customers

400,586

11,628412,214

－

2,438

127

2,564

(2,564)－

5,624

403,023

11,755

414,778(2,564)412,214(1,227)

20,931869

21,800210

22,010245,807

140,625

8,530

831

1,386

220

－

246,638

142,011

8,750

9,680

11,836

642

(83)

403

－

Other income and expenses (net)(5,213)

6,073(43,627)

Operating profit (loss)

4,385

18,311(42,985)

Intersegment sales and transfers
Total
Segment profit (loss) (Note 3)
Equity in earnings (losses) of affiliates

5,624

－

320

－

(8,095)(50,862)36(9,322)(29,611)905

412,214(50,826)－－(50,826)(28,706)210(28,496)

320

320

Finance income and costs (net)(1,014)

Loss before taxes(29,510)Depreciation and amortization
Impairment loss
Increases of non current-assets (Note 4)

11,175

5,673

158

126

17,133

295

11

2,493

2,041

4,840

458

－

12,075

11,485432

506

24,498848

17,591
4,840
25,345

Notes: 1. “Others” includes “Special-purpose Vehicles”and Electronic Equipment” that are not included in the four of reportable segment.
2. ¥210 million of adjustment of segment profit is the elimination of intersegment transactions.
3. Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from sales.
4. Non current-assets don't include investments accounted for using the equity method , other non-current financial assets and deferred tax assets.

*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. 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 FY2018.
In addition, as for the contract with the Ministry of Defense relating to defense equipment, it has come to light that
we made inappropriate claim to Ministry of Defense.
As a result of recording the estimated cost of this case, the "Aircraft Components” included in "Others"
increased its qualitative importance, so "Aircraft Components" is separated from "Others" from FY2018.
Therefore, we have four reporting segments, "Automotive Components ", "Hydraulic Components" ,"System Products"and "Aircraft Components".
*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 1,165 million yen in the Automotive components
and 184 million yen in the Hydraulic components, respectively.

11

(10)

－
－

17,581
4,840
25,345

14-May-19
KYB Corporation

FY2018 Financial Results Supplementary Information
1．Breakdown of sales
FY2017
Sales（¥ million）

Automotive Components

composition
ratio

FY2018Sales（¥ million）

composition
ratio

Differences
Sales
composition
ratio（¥ million）

243,72561.9%

245,807

59.6%

Shock absorber for automobiles

163,06841.4%

169,655

41.2%

6,586

4.0%

Shock absorber for motorcycles

30,016

7.6%

29,060

7.0%

△ 956

-3.2%

Hydraulic equipment for automobiles

45,708

11.6%

42,062

10.2%△ 3,647-8.0%

Others

4,932

1.3%

5,031

1.2%

99

2.0%

122,78731.2%

140,625

34.1%

17,83814.5%

114,25429.0%

132,29432.1%

18,040

15.8%

8,533

2.2%

8,331

2.0%

△ 202

-2.4%

27,231

6.9%

25,782

6.3%△ 1,449-5.3%

Hydraulic Components
Hydraulic equipment for industrial use
OthersSpecial-purpose vehicles, hydraulic equipment for aircraft,and system product and electronic components

2,082

0.9%

Special-purpose vehicles

9,559

2.4%

9,131

2.2%

△ 429

-4.5%

Hydraulic equipment for aircraft

6,354

1.6%

5,625

1.4%

△ 729

-11.5%

System products and electronic components, etc.

11,3182.9%

11,026

2.7%

△ 291

-2.6%

412,214 100.0%

18,471

4.7%

Total

393,743 100.0%

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

Apr-Dec 2018110.26129.84
16.74
3.40
1.73

Full year

111.14129.48
16.60
3.41
1.72

110.91128.40
16.53
3.43
1.71

（\）
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 2018110.54127.88
16.67
3.33
1.76

31 Dec 2018113.58132.15
16.50
3.50
1.73

3．Segment sales

111.01124.56
16.48
3.49
1.71

（\ million）
FY2017
1Q

2Q

FY2018
3Q

4Q

1Q

2Q

3Q

Automotive Components
Hydraulic Components
Other (*1)
Total

59,662
28,2105,879
93,75259,931
29,235
6,531
95,69760,98332,334
6,374
99,691

63,14933,007
8,447
104,604

62,81633,741
5,580
102,137

60,90633,483
6,262
100,651

Automotive Components
Hydraulic Components
Other (*1)
Total

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

FY2017
2nd Half
124,132
65,341
14,821
204,294

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

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

FY2018
2nd Half
122,085
73,40013,940209,425

Full year
245,807
140,625
25,782412,214

4Q
62,20436,496
5,420
104,120

4．Segment operating income (*2)

59,88236,904
8,520
105,305（\ million）
FY2017
1Q

2Q

Automotive Components
Hydraulic Components
Other (*1)
Total

Automotive Components
Hydraulic Components
Other (*1)
Total

4Q

2,007
2,394
36
4,438

2,570
3,002
289
5,861

5,372
6,045
834
12,251

Full year
10,61911,304
1,026
22,949FY2017
2nd Half

5,246
5,259
193
10,698FY2018
3Q

3,239
2,865
156
6,260

1st Half

1Q
2,802
3,043
545
6,390

2Q

FY2018
2nd Half

1st Half

3Q

3,138
3,019
△ 555
5,601

4,351
5,594
△ 477
9,468

1,213
2,575
79
3,867

4Q
2,549
3,243
182
5,975

2,907
3,071
590
6,567

Full year

5,456
6,314
772
12,542

9,807
11,908295
22,0105．Capital Expenditure, Depreciation（\ million）
FY2017
1Q

Capital Expenditure
Depreciation Expenses

2Q
3,445
4,035

Capital Expenditure
Depreciation Expenses

8,719
8,183

FY2018
3Q

4Q

5,274
4,148

4,182
4,413

9,769
8,804

Full year
18,48816,988FY2017
2nd Half

1st Half

1Q

2Q

3Q

5,587
4,392

4,470
4,256

5,454
4,321

9,924
8,577

FY2018
2nd Half
12,7479,004

Full year
22,672
17,581

1st Half

4Q
4,700
4,408

6． R&D Expenses

8,048
4,596

（\ million）
FY2017
1Q

R&D Expenses

2Q
1,699

R&D Expenses

FY20183Q

1,703
FY2017
2nd Half

1st Half
3,401

4Q
2,367

Full year
4,700

1Q

2Q

2,334
FY2018
2nd Half

1st Half
8,102

3Q

1,737

3,547

1,810

4Q
1,673

1,530

Full year
3,203

6,750

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

FY2017
2nd Half
△ 298
347
49

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

31 Mar 2019110.91126.88
16.14
3.41
1.59

4Q
143
35
178

Full year

1Q
89
△ 812
△ 723

△ 85
△ 117
△ 202

3
△ 929
△ 926

FY2018
2nd Half
△ 376
117
△ 259

Full year
△ 372
△ 812
△ 1,184(*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

3Q

△ 441
311
△ 129

1st Half
262
429
692

2Q

4Q
△ 61
163
102

△ 314
△ 46
△ 361