1st Quarter of FY 2/2021

Financial Results Briefing Materials
July 14, 2020

Points to Note:
This document is a translation of the Japanese original. The Japanese original is authoritative.
The information listed in these materials the Company’s future prospects as determined by management, based on the information
available at the time of announcement, and potential risks and uncertainties. It should be noted that the actual results may differ
substantially from these forecasts, due to these various elements.
The numerical values shown in these materials are the monetary amounts listed in the consolidated balance sheet, consolidated profitand-loss statement, consolidated statement of changes in shareholders’ equity, and notes to consolidated financial statements. Shownvalues of less than one unit are truncated, and ratios and other values are rounded off.

*“FY” in this material indicates the fiscal year ending February 28(29) of the succeeding year.
** “1Q” or “1st Quater” in this material represents the three-month period beginning on March 1 and ending on May 31.

FURUNO ELECTRIC CO., LTD. All Rights Reserved.

FY 2/2021 1st Quarterly Points of the Results
 Net Sales: Decrease Revenue decreased due to the impact of factors such as
impediments to economic activities in order to combat thespread of the novel coronavirus infection.

 Profit: Decrease Profit decreased despite a reduction in selling, general andadministrative expenses.

 Cash and deposit: Increase We are examining the situation under the unstable economic
circumstances and have secured extra cash.

FURUNO ELECTRIC CO., LTD. All Rights Reserved.

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FY 2/2020 1st Quarterly Results Highlights
Unit: Millions of YenNet sales
Gross profit

FY 2/2020
1st Quarter

FY 2/2021
1st Quarter

Year-over-year( amount )20,652
7,611

18,1436,418-2,509-1,193( 36.9% )( 35.4% )( -1.5 )

779

2-777

( 3.8% )( 0.0% )( -3.8 )

874

2-872

( 4.2% )( 0.0% )( -4.2 )897

62-835( 4.4% )( 0.3% )( -4.1 )R＆D expenses

1,230

1,103-127( Sales ratio )Capital investment
expenses( Sales ratio )( 6.0% )( 6.1% )( +0.1 )

468

877

＋409

( 2.3% )( 4.8% )( ＋ 2.5)

779

766-13( 3.8% )( 4.2% )( ＋0.4 )

111
126

109
121-2-5(Sales ratio)

Operating income(Sales ratio)

Ordinary income(Sales ratio)
Profit attributable toowners of parent(Sales ratio)

Depreciation expenses( Sales ratio )Year-over-year( ratio )-12.1%-15.7％-99.7%-99.8%-93.1%-10.3%＋87.4%-1.7%

Unit: Yen, annual average exchange rate

1USD
1EUR
FURUNO ELECTRIC CO., LTD. All Rights Reserved.

-1.5%
-4.0%
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Analysis of Increase/Decrease in Net Sales“100M” in this material indicates 100 Million(Unit: 100 Millions of Yen)

210

America

205＋3.2200

Europe190-1.6

Japan195-8.1

206.5
PNTAsia

-11.4

185

-4.0 Health Care
＋0.5 Others-0.6 Foreign-0.1
Exchange

Other

Marine Business180-21.2

175

FY 2/2020
1st Quarter
FURUNO ELECTRIC CO., LTD. All Rights Reserved.

Effect-2.6

Industrial Business-3.6*Foreign exchange sensitivity (actual results as of February 29, 2020)[USD] Net sales 1.1 100M yen , Operating income 0.5 100M yen[Euro] Net sales 1.6 100M yen , Operating income 0.7 100M yen

WirelessLANSystems

181.4-0.3
FY 2/2021
1st Quarter
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Analysis of Increase/Decrease in Operating income(Unit: 100 millions of Yen)
10864

Other
Decrease inSG&A
Expenses

7.82＋3.5

Production
adjustment

0-2.7-2＋1.3

FY 2/2020
1st Quarter
FURUNO ELECTRIC CO., LTD. All Rights Reserved.

0.0

Foreign
Exchange
Effect-1.2-9.3-6＋0.6

R&D
Expenses

Net sales
Decrease-4

Other

Operating income-7.8

FY 2/2021
1st Quarter
5

Overview of Marine Business“100M” in this material indicates 100 Million

Net sales by Marine Business
グラフ byタイトル/SalesRegion
Unit: 100 Millions of Yen

200150Japan

America841

Asia

Other746

634⇒ Revenue decreased due to the impact of factors
such as impediments to economic activities inorder to combat the spread of the novel
coronavirus infection.
⇒ Profit decreased despite a reduction in selling,
general and administrative expenses.
Japan: Net sales 49 100M yen (-14.1%)
 The decrease in large orders resulted in a decrease inrevenue to 2018 levels.

1004750

EuropeMarine Business：Net sales 150 100M yen (-12.3％ year on year)
Segment profit 0.5 100M yen (-5.8 100M yen)

19494517574120490
FY 2/2019
1st Quarter

FY 2/2020
1st Quarter

FURUNO ELECTRIC CO., LTD. All Rights Reserved.

FY 2/2021
1st Quarter

America: Net sales 20 100M yen (＋17.1%)
 Revenue increased due to the effect of sale of newproducts.
* The consolidated balance sheet period for our Americas subsidiaries isDecember 2019 to February 2020.

Europe: Net sales 41 100M yen (-8.0%)

 Revenue decreased due to foreign exchange effects andnovel coronavirus effects.
* The consolidated balance sheet period for our European subsidiaries is fJanuary. 2020 to March 2020.

Asia: Net sales 34 100M yen (-25.5%)

 Revenue decreased due to novel coronavirus effects.
* The consolidated a balance sheet period for our Asian subsidiaries is January
2020 to March 2020.

6

Overview of Industrial Business, Wireless LAN Systems
Net sales by Industrial Business& Wireless LAN Access Point / Sales by Products
Unit: 100 Millions of Yen

50

Industrial Others
Wireless LAN Systems

4084510 PNT business: Net sales 16.4 100M yen (-19.7%)
 Healthcare: Net sales 5.2 100M yen (＋10.8%)636532052320

160
FY 2/2019
1st Quarter

FY 2/2020
1st Quarter

FURUNO ELECTRIC CO., LTD. All Rights Reserved.

Industrial Business：
Net sales 24 100M yen (-13.0％ year by year)
Segment profit 0.6 100M yen (-0.9 100M yen)

⇒ PNT Business recorded a decrease in sales of ETC
on-board devices due to such factors as theeffects of refraining from long-distance travel
during the coronavirus pandemic.
⇒ Healthcare recorded strong sales of clinicalchemistry analyzers.

PNTHealthcare

30“100M” in this material indicates 100 Million

FY 2/2021
1st Quarter

Wireless LAN System：
Net sales 5.9 100M yen (-2.0％ year by year)
Segment loss 1.0 100M yen (-0.9 100M yen)
⇒ Revenue slightly increased from WirelessHandheld Terminal due to our meeting thereplacement demand.
⇒ Wireless LAN Access Point saw a slight revenue
decline due to an increased focus on sales
activities related to the full-fledged rolling out of
the GIGA School Concept expected beginning inthe 2nd quarter.
⇒ Profit decreased due to changes in the sales
composition.
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Efforts to combat the spread of the novel coronavirus infection

Notices and instructions
to employees

Measures regarding
work patterns

Measures in the
manufacturing sector
Supporting our Group
companies
Contributing to society

Self-restraint in movement between domestic basis anddomestic business trips
 Prohibition on overseas business trips


Based on the announcement of a state of emergency, welaid the groundwork for working from home before
moving ahead with promoting this initiative, with thetarget of reducing commuting rate by at least 70%

Strict temperature-taking on entry, and restrictions onmovement once inside Separating out working hours and lunch breaks Withineach workgroupSending of masks to overseas Group companies

Donating raincoats, which can be used as a substitute for
medical protective clothing, to the city of Nishinomiya**

FURUNO ELECTRIC CO., LTD. All Rights Reserved.

Our head office is located.

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FY2021 full-year earnings forecast and dividend forecast

The consolidated business forecast for the fiscal year ending
February 2021 is undecided because it is difficult at this stageto reasonably calculate the impact of the novel coronavirus.
Dividends for the next fiscal year are also undecided.
We will promptly disclose them together with the full-year
earnings forecast when earnings can be more accurately
predicted.

FURUNO ELECTRIC CO., LTD. All Rights Reserved.

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