< Translation >May 10, 2017

Consolidated Financial Results
for the Fiscal Year Ended March 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 of annual general shareholders’ meeting:June 22, 2017
Scheduled date to commence dividend payments:
June 5, 2017
Scheduled date to submit annual securities report:
June 29, 2017
Preparation of supplementary materials on financial results: Yes
Holding of financial results briefing:
Yes (for analysts)(Amounts less than one million yen are omitted, unless otherwise noted)

1. Consolidated Financial Results for the FY2017 (from April 1, 2016 to March 31, 2017)(1) Consolidated operating results

Net sales

FY2017FY2016%

19,34621,148(8.5)
18.8

Net income
per share
FY2017FY2016

Operating income

Millions of yen

Note: Comprehensive income(Percentages indicate year-on-year changes)
Net income
attributable toOrdinary income
shareholders of theparent company

Millions of yen%

Millions of yen%

2,112 (31.5)
3,086 33.9

2,058
2,921

(29.6)
14.9

Millions of yen%

1,380 (27.7)
1,908 13.4

FY2017: 1,393 million yen [(2.0) %]FY2016: 1,422 million yen [(38.7) %]Diluted net
Return on equity
income per share

Ratio of ordinary Ratio of operating
income toincome tototal assets
net sales

Yen

Yen

%

%

%

78.93
109.14

-

5.5
7.9

6.8
9.9

10.9
14.6

Reference: Equity in earnings (losses) of affiliates

FY2017: - million yen

FY2016: - million yen(2) Consolidated financial position
Total assets
As of March 31, 2017
As of March 31, 2016

Net assets

Net assets
per share

Equity ratio

Millions of yen

Millions of yen%

Yen

30,761
29,40925,451
24,715

82.1
83.3

1,444.38
1,401.54

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

As of March 31, 2016: 24,509 million yen

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(3) Consolidated cash flows
Net cash provided by(used in) operating
activities

Net cash provided by(used in) investing
activities

Net cash providedby (used in)financing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

1,626
2,218

(471)
(5,105)

(678)
(677)

5,690
5,297

FY2017FY2016

Cash and cash
equivalents
at end of period

2. Cash Dividends
Annual dividends per share
1Q

FY2016FY2017FY2018(Forecast)

2Q

3Q

4Q

Total

Total cash
dividends(annual)Dividend
payout ratio(consolidated)

Ratio ofdividends to
net assets(consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

-

15.00
15.00

-

21.00
21.00

36.00
36.00

629
629

33.0
45.6

2.6
2.5

-

15.00

-

18.00

33.00

30.4

3. Consolidated Earnings Forecasts for the FY2018 (from April 1, 2017 to March 31, 2018)(Percentages indicate year-on-year changes)
OperatingincomeNet sales

Net income attributable
to shareholdersof the parent company

Ordinary
incomeNet income
per share

Millionsof yen%Millionsof yen%Millionsof yen%Millionsof yen%YenFirst six months
ending September
30, 2017

10,200

14.0

1,250

(7.0)

1,250

8.7

850

0.0

48.61

FY201821,000

8.5

2,700

27.8

2,700

31.2

1,900

37.7

108.65* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying
changes in scope of consolidation): None
(2) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
2) Changes in accounting policies due to other reasons:None3) Changes in accounting estimates:
None4) Restatement:
None(3) Number of issued shares (common stock)1) Number of issued shares at the end of the period (including shares of treasury stock)
As of March 31, 2017: 17,819,033 shares
As of March 31, 2016: 17,819,033 shares
2) Number of shares of treasury stock at the end of the period
As of March 31, 2017:
331,715 shares
As of March 31, 2016:
331,208 shares
3) Average number of outstanding shares during the period
FY2017:
17,487,612 shares
FY2016:
17,487,964 shares

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the FY2017 (April 1, 2016 - March 31, 2017)(1) Non-consolidated operating results
Net sales
Millions of yen

FY2017FY2016

15,545
15,520% Millions of yen

0.2
11.6

Net income per share
FY2017FY2016(Percentages indicate year-on-year changes)
Ordinary income
Net income

Operating income
1,279
1,505

%

Millions of yen%(15.0)
14.1

1,721
2,267

(24.1)
3.0

Millions of yen%

1,269 (24.3)
1,676 (4.4)

Diluted net income
per share

Yen

Yen

72.57
95.88

-

(2) Non-consolidated financial position
Total assets

Total net assets

Net assets
per share

Equity ratio

Millions of yen

Millions of yen%

Yen

27,331
26,11523,18422,50184.8
86.2

1,325.81
1,286.70

As of March 31, 2017
As of March 31, 2016
Reference: Equity capital (Net assets)

As of March 31, 2017: 23,184 million yen

As of March 31, 2016: 22,501 million yen* This financial information included in this summary is out of scope of audit procedure.
* Cautionary statement with respect to forward-looking statements and other special remarks
The forecast above is 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 andnotes regarding the use of earnings forecasts, please refer to “1. Overview of operating results, (4) Business
forecasts” on page 3 of [Attached Material].
* 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 shallprevail. Yushin Precision Equipment Co., Ltd. shall accept no responsibility or liability for damages or loss
caused by any error, inaccuracy, misunderstanding or misspelling with regard to this translation. Thistranslation may be used only for reference purposes. Yushin Precision Equipment Co., Ltd. maintains theright to claim compensation from violators for any damage or loss it may suffer from the violation of these
conditions.

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)[Attached Material]
INDEX
1. Overview of operating results ··························································································· 2(1) Overview of operating results for the fiscal year ended March 31, 2017 ······································ 2(2) Overview of financial condition for the fiscal year ended March 31, 2017 ··································· 2(3) Overview of cash flow for the fiscal year ended March 31, 2017 ·············································· 2(4) Business forecasts ···································································································· 3
2. Selection of accounting standards ······················································································ 3
3. Consolidated Financial Statements and Major notes ································································ 4(1) Consolidated balance sheets ························································································· 4(2) Consolidated statements of income and consolidated statements of comprehensive income ··············· 6Consolidated statements of income ················································································· 6Consolidated statements of comprehensive income ······························································ 7(3) Consolidated statements of changes in net assets ······························································· 8(4) Consolidated statements of cash flows ············································································10(5) Notes to consolidated financial statements········································································11
Notes related to Regarding premise of going concerns··························································11
Changes in accounting policies ·····················································································11Segment information etc. ····························································································11
Per share indexes ······································································································13
Significant subsequent events ·······················································································13
Order, backlog and sales ·····························································································14
Overseas sales ·········································································································14
4. Non-consolidated Financial Statements ··············································································15(1) Non-consolidated balance sheets ···················································································15(2) Non-consolidated statements of income ···········································································17(3) Non-consolidated statements of changes in net assets ··························································18
5. Other ·······················································································································201YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

1. Overview of operating results(1) Overview of operating results for the fiscal year ended March 31, 2017
In the fiscal year ended March 31, 2017, there was an uncertainty about economic and trade
policies by the new US government as well as politics in Europe. However, the economy of the US
remained steady against a background of improvements of the employment environment andexpansion of the individual consumption. In Europe, the economy was on recovery trend since “Brexit”
impact was temporary. In Asia, there were slowdown in Chinese economy and stagnation of theeconomic growth in emerging countries, but there was pickup in the second half of the year. On thewhole, world economy made a mild recovery.
In these circumstances, Yushin Group has strived to expand operation in a new business area, todevelop new products and to obtain new world-class customers. However, consolidated net sales
decreased by 8.5% year on year to 19,346 million yen because sales in new business area fell below
expectation and there was strong yen. As regards profit, in addition to decrease in net sales, there
were cost occurred relating to the new ERP system launched last November and the relocation of the
HQ implemented last December. As a result, operating income decreased by 31.5% year on year to2,112 million yen and ordinary income decreased by 29.6% year on year to 2,058 million yen, and net
income attributable to shareholders of the parent company decreased by 27.7% year on year to 1,380
million yen.
Operating result by product category< Take-out robots >Net sales of take-out robots decreased by 512 million yen (3.7%) fromthe previous FY to 13,410 million yen due to slow sales in the first halfof the year even there was a recovery trend in the second half.
< Custom-ordered equipment >Net sales of custom-ordered equipment decreased by 1,165 million yen(29.1%) from the previous FY to 2,832 million yen.
< Parts and maintenance service > Net sales of parts and maintenance service decreased by 124 million yen(3.9%) from the previous FY to 3,103 million yen.
Operating result by segment category< Japan >Net sales increased by 0.2% from the previous FY to 15,545 million yen and operating
income decreased by 15.0% from the previous FY to 1,279 million yen.
< North America > Net sales decreased by 8.3% from the previous FY to 3,285 million yen and operating
income decreased by 21.4% to 348 million yen.
< Asia >Net sales decreased by 8.3% from the previous FY to 4,776 million yen and operating
income decreased by 41.3% to 469 million yen.
< Europe >Net sales decreased by 78.9% from the previous FY to 396 million yen and operating
income decreased by 97.0% from the previous FY to 6 million yen.
(2) Overview of financial condition for the fiscal year ended March 31, 2017
< Assets >Total assets increased by 1,352 million yen from the end of the previous fiscal year to 30,761 million
yen. This was mainly due to increase of 453 million yen in Notes and accounts receivable – trade, 413
million yen in Consumption taxes receivable and 393 million yen in Cash and deposits.
< Liabilities >Total liabilities increased by 616 million yen from the end of the previous fiscal year to 5,310 million
yen. This was mainly due to increase of 653 million yen in Electronically recorded obligations - operating.
< Net assets >Net assets increased by 736 million yen from the end of the previous fiscal year to 25,451 million yen
due to increase of Retained earnings by 771 million yen.
(3) Overview of cash flow for the fiscal year ended March 31, 2017
The balance of cash and cash equivalents on March 31, 2017 increased by 392 million yen from the end of
the previous fiscal year to 5,690 million yen. Main reasons are as follows.
< Cash flow from operating activities >Income before income taxes was 2,009 million yen. After deducting 958 million yen in Income taxes
paid, cash flow from operating activities for the fiscal year ended March 31, 2017 was a net inflow of 1,626
million yen (it was a net inflow of 2,218 million yen in the previous fiscal year).

2

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)< Cash flow from investment activities >Due to 356 million yen in Purchase of property, plant and equipment, cash flow from investment
activities for the fiscal year ended March 31, 2017 was a net outflow of 471 million yen (it was a net outflow
of 5,105 million yen in the previous fiscal year).
< Cash flow from financing activities >Due to Cash dividends paid of 629 million yen, cash flow from financing activities was a net outflow of
678 million yen (it was a net outflow of 677 million yen in the previous fiscal year).
(4) Business forecasts
The world economy is expected to show a recovery trend as a whole. However, there remains
uncertainty such as effect from the economic and trading policy of new US government, the political trend
in Europe and escalation of international tensions.
Under these circumstances, Yushin Group will extend the quality and scale of our business bystrengthening our sales capabilities worldwide and developing and distributing products to meetcustomers’ demands. Particularly a new model of take-out robots with new functions is scheduled to belaunched. We also expand sales of custom-ordered equipment in a medical and a new business area. For
the purpose of enhancing these all efforts, Yushin Group aims to improve productivities and to promote
operational efficiencies utilizing the new HQ, as well as to continue cost reducing activities.
Yushin forecasts its business performance for the fiscal year ending March 31, 2018 based on thecurrent information available, as follows.
(Millions of yen)
Net sales

Consolidated

Operating income

Ordinary income

Net income attributable toshareholders of the parent
company

2,700(Y/Y 27.8%)

2,700(Y/Y 31.2%)

1,900(Y/Y 37.7%)

21,000(Y/Y 8.5%)

2. Selection of accounting standards
Yushin plans to continue its policy of generating consolidated financial statements according toJapanese standards in consideration of the fact Yushin does not conduct global funding and to enable thecomparison with other Japanese companies in the same sector.
With regard to the adoption of IFRS, Yushin will take into account the situation across various
domestic and international markets and take appropriate action.

3

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

3. Consolidated Financial Statements and Major notes(1) Consolidated balance sheets(Thousands of yen)
As of March 31, 2016

As of March 31, 2017

Cash and deposits

5,341,166

5,734,493

Notes and accounts receivable - trade

6,026,195

6,479,748

Merchandise and finished goods

762,329

769,815Work in process

625,413884,830

Raw materials and supplies

2,286,051

2,179,141

Consumption taxes receivable

102,232

515,608

Deferred tax assets

625,342431,885

Other

218,723

374,476

Allowance for doubtful accounts(30,483)(21,298)

15,956,972

17,348,701

1,855,686

6,041,212

93,389193,037

Land

5,779,928

5,784,160

Construction in progress

4,587,525

5,749

120,459

231,654

12,436,989

12,255,813

Other369,502473,285

Total Intangible assets

369,502473,285

Investment securities

185,438

220,783

Net defined benefit asset

266,874

292,959

Other

193,840

170,444

Allowance for doubtful accounts

(14)

(251)

Total investments and other assets

646,137

683,936

Total non-current assets

13,452,630

13,413,034

Total assets

29,409,602

30,761,736<ASSETS>
Current assets

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, equipment and vehicles

Other
Total property, plant and equipment
Intangible assets

Investments and other assets

4

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(Thousands of yen)
As of March 31, 2016

As of March 31, 2017

1,516,260

1,686,219

Electronically recorded obligations - operating

652,843

1,306,059

Accounts payable - other776,774

750,992

Income taxes payable

548,986

100,112Advances received

278,867

604,929

Provision for bonuses

236,000

252,861

Provision for directors’ bonuses

29,96022,710

Provision for product warranties

148,441

122,870

3,319

7,721

201,240

245,736

4,392,694

5,100,213

Provision for directors’ retirement benefits

66,78066,780Net defined benefit liability

44,04353,853

Deferred tax liabilities

123,350

29,739Other

67,06559,431

Total non-current liabilities

301,239

209,805

4,693,933

5,310,018

Capital stock

1,985,666

1,985,666

Capital surplus

2,023,903

2,023,903

Retained earnings

20,502,208

21,273,290

Treasury stock(352,731)(353,994)

24,159,047

24,928,866

Valuation difference on available-for-salesecurities

33,92058,545

Foreign currency translation adjustment

266,643

203,291

Remeasurements of defined benefit plans

50,24567,699Total accumulated
other comprehensive income

350,808

329,536

205,812

193,315

Total net assets

24,715,668

25,451,718

Total liabilities and net assets

29,409,602

30,761,736<LIABILITIES>Current liabilities
Notes and accounts payable - trade

Deferred tax liabilities
Other
Total current liabilities
Non-current liabilities

Total liabilities<NET ASSETS>
Shareholders' equity

Total shareholders’ equity
Accumulated other comprehensive income

Non-controlling interests

5

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(2) Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Thousands of yen)
FY2016FY2017

Net sales

21,148,591

19,346,399

Cost of sales

12,705,822

11,680,029

Gross profit

8,442,768

7,666,369

Selling, general and administrative expenses

5,356,705

5,553,726

Operating income

3,086,063

2,112,643

Interest and dividends income

17,603

10,756

Subsidy income

12,20822,942Other

32,50848,207

Total non-operating income

62,32081,905941

1,209

224,180

129,316

1,507

5,830

226,629

136,356

2,921,754

2,058,192

Gain on sales of non-current assets

120

1,755

Gain on sales of investment securities

1,104

574

Total extraordinary income

1,224

2,329

Loss on sales and retirement of non-current assets

64,06050,881

Total extraordinary losses

64,06050,881

Income before income taxes

2,858,919

2,009,640

Income taxes – current

955,959

503,362

Income taxes – deferred(72,362)

94,643

Total income taxes

883,597

598,005

1,975,321

1,411,635

Net income attributable to non-controlling interests

66,69531,361

Net income attributable to shareholders of the parent
company

1,908,626

1,380,273

Non-operating income

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

Extraordinary loss

Net income

6

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

Consolidated statements of comprehensive income(Thousands of yen)
FY2016
Net income

FY2017

1,975,321

1,411,635

Valuation difference on available-for-salesecurities(73,083)

24,625

Foreign currency translation adjustments(420,998)(59,967)

Remeasurements of defined benefit plans, net oftax(58,462)

17,454

Total other comprehensive income(552,544)(17,887)

Comprehensive income

1,422,777

1,393,747

1,384,914

1,359,001

37,862

34,745

Other comprehensive income(Breakdown)Comprehensive income attributable toshareholders of the parent company
Comprehensive income attributable tonon-controlling interests

7

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(3) Consolidated statements of changes in net assets
FY2016(Thousands of Yen)
Shareholders’ equity
Capital stock
Balance at the beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies

1,985,666

Restated balance

1,985,666

Changes of items during theperiodDividends from surplus
Net income attributable toshareholders of the parent
company
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items during
the period
Balance at the end of current
periodCapitalSurplus2,023,903

Retained earnings

Treasury
stock

Total
Shareholders’ equity

19,205,664(352,005)

22,863,228-

2,023,903

19,205,664(352,005)

22,863,228(612,081)(612,081)

1,908,626

1,908,626
(725)

(725)

-

-

1,296,544(725)

1,295,818

1,985,666

2,023,903

20,502,208(352,731)

24,159,047

Accumulated other comprehensive income
Valuationdifference on
available-for-salesecurities

Balance at the beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies

107,003

Restated balance

107,003

Changes of items during theperiodDividends from surplus
Net income attributable toshareholders of the parent
company
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items during
the period
Balance at the end of current
periodForeigncurrencytranslation
adjustment

Remeasurementsof defined benefit
plans

Total
accumulated
othercomprehensive
incomeNoncontrollinginterests

Total net
assets658,809108,707874,520232,393

23,970,142-

658,809108,707874,520232,393

23,970,142(612,081)
1,908,626(725)(73,083)(392,165)(58,462)(523,711)(26,580)(550,292)(73,083)(392,165)(58,462)(523,711)(26,580)

745,526

33,920266,643

50,245350,808

205,81224,715,668

8

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

FY2017(Thousands of Yen)
Shareholders’ equity
Capital stock
Balance at the beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies

1,985,666

Restated balance

1,985,666

Changes of items during theperiodDividends from surplus
Net income attributable toshareholders of the parent
company
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items during
the period
Balance at the end of current
periodCapitalSurplus2,023,903

Retained earnings

Treasury
stock

Total
Shareholders’ equity

20,502,208(352,731)

24,159,047

20,3672,023,903

20,522,575

20,367(352,731)

24,179,414(629,558)(629,558)

1,380,273

1,380,273(1,262)(1,262)--

750,715(1,262)

749,452

1,985,666

2,023,903

21,273,290(353,994)

24,928,866

Accumulated other comprehensive income
Valuationdifference on
available-for-salesecurities

Foreigncurrencytranslation
adjustment

Remeasurementsof defined benefit
plans

Total
accumulated
othercomprehensive
incomeNoncontrollinginterests

Total net
assetsBalance at the beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies

33,920266,643

50,245350,808

205,81224,715,668

Restated balance

33,920Changes of items during theperiodDividends from surplus
Net income attributable toshareholders of the parent
company
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items during
the period
Balance at the end of current
period20,367
266,643

50,245350,808

205,81224,736,035(629,558)
1,380,273(1,262)
24,625(63,351)

17,454(21,271)(12,497)(33,769)

24,625(63,351)

17,454(21,271)(12,497)715,682

58,545203,291

67,699329,536

193,315

25,451,718

9

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(4) Consolidated statements of cash flows(Thousands of yen)
FY2017FY2016
Net cash provided by (used in) operating activities
Income before income taxes
Depreciation and amortization
Increase (decrease) in allowance for doubtful
accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for directors’
bonuses
Increase (decrease) in net defined benefit asset andliability
Interest and dividends income
Loss (gain) on sales of securities and investment
securities
Decrease (increase) in notes and accounts
receivable - trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable- tradeIncrease (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends income received
Proceeds from insurance income
Income taxes paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities
Payments into time deposits
Purchase of property, plant and equipment
Proceeds from sales of property, plant andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sales of investment securities
Net cash provided by (used in) investing activities
Net cash provided by (used in) financing activities
Purchase of treasury stock
Proceeds from share issuance to non-controllingshareholders
Cash dividends paid
Payment of dividends to Non-controllingshareholders
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

102,858,919
394,028

2,009,640
479,6296,810(8,869)1,000

16,861(790)(7,250)

1,449

7,699

(17,603)(10,756)(1,104)(574)(384,418)(482,815)

466,911(213,634)

27,655890,174(664,127)
177,957
2,866,687
17,4483,582(669,359)
2,218,359

297,346(453,395)
2,524,056
10,83850,101(958,372)
1,626,624(2,728)(4,861,236)(3,095)(356,006)

916

4,647

(244,369)
(211)
1,721
(5,105,907)(117,294)(121)
782(471,087)(725)(1,262)-

3,264(612,098)(629,919)(64,443)(50,507)(677,268)(678,425)(226,549)(84,164)(3,791,365)
9,089,067
5,297,701

392,946
5,297,701
5,690,647

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(5) Notes to consolidated financial statements
Notes related to Regarding premise of going concerns
Non applicable
Changes in accounting policies(Application of guidance on “Recoverability of Deferred Tax Assets”)
The company has applied “Guidance on Recoverability of Deferred Tax Assets” (AccountingStandards Board of Japan [ASBJ] Guidance No.26, March 28, 2016; hereafter “Guidance on
Recoverability”) from the beginning of the current fiscal year and revised a part of the accounting
procedure for recoverability of deferred tax assets.
The Company has applied “Guidance on Recoverability” in accordance with the provisions ontransitional implementation indicated in Article 49(4) of “Guidance on Recoverability.” The differences
between the amount of Deferred tax assets and Deferred tax liabilities in applying Article 49(3)①through ③ of “Guidance on Recoverability” at the beginning of the current fiscal year, and the amountof Deferred tax assets and Deferred tax liabilities at the end of the previous fiscal year have been added
to Retained earnings at the beginning of the current fiscal year.
As the result, at the beginning of the current fiscal year, Deferred tax assets (“Investments and otherassets”) increased by 20,367 thousand yen and Retained earnings increased by 20,367 thousand yen.
Segment information etc.
Segment information
1. Overview of reportable segment
Segments used for financial reporting are the Company’s constituent units for which separate
financial information is available and for which the Board of Directors performs periodic studies forthe purposes of determining the allocation of resources and evaluating performance.
Yushin carries out the development, production, sales and after-sales maintenance of take-out
robots for injection-molded products and peripheral equipment, including labor-saving systems. In
the domestic market, these operations are handled by the Company; overseas markets - North
America, Asia (South Korea, Taiwan, China, Indonesia, Vietnam, Malaysia, Thailand and India)
and Europe (UK) - are serviced by local subsidiaries, including Yushin America Inc. (US), Yushin
Korea Co., Ltd. (South Korea) and Yushin Automation Limited (Europe). The local subsidiaries are
independently managed units, with separately drafted strategies and activities.
Accordingly, Yushin's operations, based on its production, sales and after-sales maintenancesetups, are geographically grouped into four reportable segments: Japan, North America, Asia andEurope.
2. Method of calculating sales and profit (loss), identifiable assets, and other items by businesssegment reported
Accounting policies for the reportable business segments are the same as “Basis of Presenting
Consideration Financial Statements”.
Income by business segment reported is calculated based on operating income.
Inter-segment income and transfer are based on realized market price basis.

11

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

3. Information related to sales and profit (loss), identifiable assets, and other items for each reportablesegment
FY2016 (from April 1, 2015 to March 31, 2016)(Thousands of yen)

Reportable segment

Net sales
Sales to customers
Inter-segment sales
or transfers
Total
Segment profit
Segment assets
Other items
Depreciation andamortization
Increment of tangible& intangible assets

Total

Adjustment

Amounts
shown onconsolidated
statements ofincome *2

Japan

North
America

Asia

Europe10,818,516

3,564,300

4,885,210

1,880,562

21,148,591-

21,148,591

4,701,584

19,188323,428

4,383

5,048,584(5,048,584)-

15,520,101

3,583,489

5,208,639

1,884,946

26,197,176(5,048,584)

21,148,591

1,505,359

443,394

799,920

229,917

2,978,592

107,470

3,086,063

21,275,945

2,183,103

3,851,007

851,720

28,161,776

1,247,825

29,409,602

196,842

34,60525,246

11,560268,254

125,773

394,028

4,892,522

156,046

49,364

12,536

5,110,470-

5,110,470*1*Notes 1: Adjustment is as follows.
(1) The 107,470 thousand yen adjustment to segment profit includes eliminations for inter-segment
transactions of 103,549 thousand yen and inventory adjustments of 3,920 thousand yen.
(2) The 1,247,825 thousand yen adjustment to segment assets includes eliminations for inter-segment
transactions of (2,760,954) thousand yen and operating funds of surplus assets by the Company(cash and deposits, securities) and long-term investments funds (investments securities) of 4,008,780
thousand yen.
*Notes 2: Segment profit is adjusted to be consistent with operating income shown on the consolidated statements ofincome.

FY2017 (from April 1, 2016 to March 31, 2017)(Thousands of yen)

Reportable segment

Net sales
Sales to customers
Inter-segment sales
or transfers
Total
Segment profit
Segment assets
Other items
Depreciation andamortization
Increment of tangible& intangible assets

Total

Adjustment

Amounts
shown onconsolidated
statements ofincome *2

Japan

North
America

Asia

Europe11,163,835

3,274,951

4,512,118

395,494

19,346,399-

19,346,399

4,381,261

10,841

264,479

1,418

4,658,001(4,658,001)-

15,545,096

3,285,793

4,776,598

396,913

24,004,401(4,658,001)

19,346,399

1,279,141

348,477

469,737

6,850

2,104,206

8,436

2,112,643

21,654,181

2,122,853

3,758,967

943,30928,479,312

2,282,423

30,761,736

404,333

37,117

19,852

12,848474,151

5,477

479,629459,360

25,255

16,56545,432546,613-546,613*1*Notes 1: Adjustment is as follows.
(1) The 8,436 thousand yen adjustment to segment profit includes eliminations for inter-segment
transactions of 26,220 thousand yen and inventory adjustments of (17,784) thousand yen.
(2) The 2,282,423 thousand yen adjustment to segment assets includes eliminations for inter-segment
transactions of (2,504,133) thousand yen and operating funds of surplus assets by the Company(cash and deposits, securities) and long-term investments funds (investments securities) of
4,786,556 thousand yen.
*Notes 2: Segment profit is adjusted to be consistent with operating income shown on the consolidated statements ofincome.

12

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

Per share indexes(Yen)
FY2016FY2017Book-value per share (BPS)

1,401.54

1,444.38

Earnings per share (EPS)

109.1478.93*Notes 1: Net income per share fully diluted is not shown since there is none.
*Notes 2: The bases for calculating Earnings per share (EPS) are followings.
(Thousands of yen)
FY2016
Net income attributable to shareholdersof the parent company

FY2017

1,908,626

1,380,273--

1,908,626

1,380,273

17,487,964 shares

17,487,612 shares

Amount not attributable to general shareholders
Net income attributable to shareholdersof the parent company for common shares
Average number of shares*Notes 3: The bases for calculating Book-value per share (BPS) are followings.
(Thousands of yen)
As of March 31, 2016
Total net assets
Amounts deducted from total net assets(Portion of non-controlling interest)
Net assets at fiscal year-end applicable tocommon shares
Number of common shares at fiscal year-end
used in calculating book-value per share

Significant subsequent events
Non applicable13

As of March 31, 201724,715,668

25,451,718

205,812

193,315(205,812)(193,315)

24,509,856

25,258,402

17,487,825 shares

17,487,318 shares

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

Order, backlog and sales(1) Orders
1) Order received
Products(Thousands of yen)
FY2016FY2017

Changes (%)

Take-out robots

13,339,156

13,910,368

4.3

Custom-ordered equipment

2,500,196

3,207,275

28.3

Parts and maintenance service

3,224,039

3,114,945

(3.4)

Total

19,063,392

20,232,588

6.1

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

As of March 31, 2017

1,921,151

2,420,933

26.0

Custom-ordered equipment

665,174

1,039,912

56.3

Parts and maintenance service

195,081

206,751

6.0

Total

2,781,407

3,667,596

31.9

Take-out robots(Thousands of yen)

(2) Net sales
Products

Changes (%)

FY2016FY2017

Changes (%)

Take-out robots

13,923,022

13,410,587(3.7)

Custom-ordered equipment

3,997,845

2,832,537(29.1)

Parts and maintenance service

3,227,723

3,103,275

(3.9)

Total

21,148,591

19,346,399(8.5)

Overseas sales
FY2016 (from April 1, 2015 to March 31, 2016)
North
AmericaI

Overseas sales

3,665,829

Asia

Europe8,001,635

2,163,705(Thousands of yen)
Other
Total
areas
610,002 14,441,172

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

21,148,591
17.3

FY2017 (from April 1, 2016 to March 31, 2017)
North
AmericaI

Overseas sales

3,573,991

37.8

10.2

Asia

Europe6,678,014

693,469

2.9(Thousands of yen)
Other
Total
areas
445,819 11,391,295

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

68.3

19,346,399
18.5

14

34.5

3.6

2.3

58.9

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

4. Non-consolidated Financial Statements(1) Non-consolidated balance sheets(Thousands of yen)
As of March 31, 2016
<ASSETS>
Current assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Prepaid expenses
Consumption taxes receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Structures
Machinery and equipment
Tools, furniture and fixtures
Land
Lease assets
Construction in progress
Total property, plant and equipment
Intangible assets
Telephone subscription right
Software
Software in progress
Total intangible assets
Investments and other assets
Investment securities
Stocks of subsidiaries and affiliates
Investments in capital of subsidiaries andaffiliates
Guarantee deposits
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

15

As of March 31, 2017

3,188,986
1,081,421
5,160,361
341,968
515,241
1,346,537
65,557102,232
361,596442,261(700)
12,605,465

4,113,442
1,018,392
5,062,322
375,874
796,987
1,415,625
81,658515,608
166,988257,110(800)
13,803,212

1,246,341
79,795
21,391
61,7945,490,953
12,804
4,587,525
11,500,607

5,286,602
254,764
108,742
156,661
5,490,953
8,811
5,749
11,312,285

11,43053,585
217,782
282,797

11,430382,732
394,162

185,438
805,760

220,783
808,896

297,873

297,873

26,96072,643
338,417(14)
1,727,078
13,510,482
26,115,948

10,786
166,405
317,008(251)
1,821,502
13,527,950
27,331,162

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

As of March 31, 2016
<LIABILITIES>Current liabilities
Notes payable - trade
Electronically recorded obligations - operating
Accounts payable - trade
Accounts payable - otherAccrued expenses
Income taxes payable
Advances received
Deposits received
Provision for bonuses
Provision for directors’ bonuses
Provision for product warranties
Other(Thousands of yen)
As of March 31, 201747,272652,843
1,325,768
523,060
100,737
435,890
60,73425,154
236,000
29,96096,0004,227

83,816
1,306,059
1,458,758
589,841
108,170
25,798
127,941
19,470250,000
22,71077,0004,221

3,537,649

4,073,787

Non-current liabilities
Provision for directors’ retirement benefit
Other

66,7809,960

66,7805,761

Total non-current liabilities

76,74072,541

Total liabilities

3,614,390

4,146,329<NET ASSETS>
Shareholders’ equity
Capital stock
Capital surplus
Legal capital surplus

1,985,666

1,985,666

2,023,903

2,023,903

Total capital surplus

2,023,903

2,023,903

286,314286,3141,000,000
8,700,000
8,824,484

1,000,000
8,700,000
9,484,396

18,810,799

19,470,711

Treasury stock(352,731)(353,994)

Total Shareholders’ equity

22,467,637

23,126,287

33,92058,54533,92058,545

Total net assets

22,501,557

23,184,832

Total liabilities and net assets

26,115,948

27,331,162

Total current liabilities

Retained earnings
Legal retained earnings
Other retained earnings
Reserve for dividend equalization
General reserve
Retained earnings brought forward
Total retained earnings

Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Total valuation and translation adjustments

16

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(2) Non-consolidated statements of income(Thousands of yen)
FY2017FY2016
Net sales

15,520,101

15,545,096

Cost of sales

10,235,848

10,119,689

Gross profit

5,284,252

5,425,406

Selling, general and administrative expenses

3,778,892

4,146,265

Operating income

1,505,359

1,279,141

Interest income

8,597

2,764

Dividends income

726,971406,823

Purchase discounts

14,27012,556

Subsidy income

12,20822,942

Other

11,08830,392

Total non-operating income

773,135

475,478

941

1,209

Foreign exchange losses

8,928

25,721

Other

1,355

5,828

Total non-operating expenses

11,22532,7592,267,269

1,721,859

Gain on sales of investment securities

1,104

574

Total extraordinary income

1,104

574

Loss on sales and retirement of non-current assets

63,80150,756

Total extraordinary losses

63,80150,756

Income before income taxes

2,204,572

1,671,677

Income taxes - current

656,218

292,168

Income taxes - deferred(128,401)

110,405

Total income taxes

527,816

402,573

1,676,755

1,269,103

Non-operating income

Non-operating expenses
Sales discounts

Ordinary income
Extraordinary income

Extraordinary loss

Net income

17

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(3) Non-consolidated statements of changes in net assets
FY2016(Thousands of Yen)
Shareholders’ equity

Retained earnings

Capital surplus

Other retained earnings

Capitalstock

Balance at the beginningof current period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes of items during
the period
Dividends fromsurplus
Net income
Purchase of treasurystock
Net changes of items
other thanshareholders’ equity
Total changes of items
during the period
Balance at the end ofcurrent period

1,985,666

Legalcapitalsurplus

Total
CapitalsurplusLegalretainedearnings

2,023,903

2,023,903

286,314

Restated balance

1,985,666

2,023,903

Retainedearnings
brought
forwardTotal
retainedearnings

1,000,000

8,700,000

7,759,810

17,746,125

2,023,903

286,3141,000,000

8,700,000

7,759,810

17,746,125(612,081)(612,081)

1,676,755

1,676,755

-

-

-

-

-

-

1,064,673

1,064,673

1,985,666

2,023,903

2,023,903

286,3141,000,000

8,700,000

8,824,484

18,810,799

Valuation and translation adjustments

Treasury
stock

Total
Shareholders’equityValuation difference
on available-forsale securities

Total Valuationand translation
adjustments

Total net assets(352,005)

21,403,689

107,003

107,003

21,510,693(352,005)

Changes of items during theperiodDividends from surplus
Net income
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items
during the period
Balance at the end ofcurrent period

Generalreserve-

Shareholders’ equity

Balance at the beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies

Reserve fordividend
equalization(725)

21,403,689

107,003

107,003

21,510,693(612,081)(612,081)

1,676,755

1,676,755

(725)

(725)
(73,083)(73,083)(73,083)(725)

1,063,948(73,083)(73,083)

990,864(352,731)

22,467,637

33,92033,92022,501,557

18

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

FY2017(Thousands of Yen)
Shareholders’ equity

Retained earnings

Capital surplus

Other retained earnings

Capitalstock

Balance at the beginningof current period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes of items during
the period
Dividends fromsurplus
Net income
Purchase of treasurystock
Net changes of items
other thanshareholders’ equity
Total changes of items
during the period
Balance at the end ofcurrent period

1,985,666

1,985,666

LegalcapitalsurplusTotal
capitalsurplusLegalretainedearnings

2,023,903

2,023,903

286,3142,023,903

2,023,903

Restated balance

Retainedearnings
brought
forwardTotal
retainedearnings

1,000,000

8,700,000

8,824,484

18,810,799

20,367

20,367

8,844,851

18,831,166(629,558)(629,558)

1,269,103

1,269,103

1,000,000

8,700,000

-

-

-

-

-

639,544639,544

1,985,666

2,023,903

2,023,903

286,3141,000,000

8,700,000

9,484,396

19,470,711

Valuation and translation adjustments

Treasury
stock

Total
Shareholders’equityValuation difference
on available-forsale securities

Total Valuationand translation
adjustments

Total net assets(352,731)

22,467,637

33,92033,92022,501,557

20,367(352,731)

Changes of items during theperiodDividends from surplus
Net income
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items
during the period
Balance at the end of current
periodGeneralreserve-

Shareholders’ equity

Balance at the beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies

286,314

Reserve fordividend
equalization(1,262)

22,488,004

20,36733,92033,92022,521,924(629,558)(629,558)

1,269,103

1,269,103(1,262)(1,262)
24,625

24,625

24,625(1,262)

638,282

24,625

24,625662,907(353,994)

23,126,287

58,54558,54523,184,832

19

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

5. OtherAppointment and Retirement of Directors and Auditors
1. Representative
Non applicable
2. Other Members (Effective on June 22, 2017)(1) Promotion of Director
Yasushi Kitagawa, Executive Managing Director(currently Managing Director and General Manager of Manufacturing Division)(2) Candidate for new Director
Tomohiro Inano, Director(currently Executive Officer and General Manager of Sales Division)(3) Candidate for new Corporate Auditor
Yoshihisa Nakanishi, Corporate Auditor (Full-time)
Michitoshi Morimoto, Corporate Auditor (Outside)* Michitoshi Morimoto is a candidate for Outside Corporate Auditor stipulated in Item 16,
Article 2 of the Companies Act.
(4) Corporate Auditor scheduled to retire
Shujiro Sawada, Corporate Auditor (Full-time)
Takao Yoshikawa, Corporate Auditor (Outside)
End of Materials

20