Financial Information
HORIBA, Ltd.

May, 2024© 2024 HORIBA, Ltd. All rights reserved.

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Contents◼ 2024 1Q (Jan.- Mar.) Results◼ 2024 Forecasts◼ Operating Profit Analysis◼ Exchange Rate Impact◼ CAPEX, Depreciation, R&D Expenses◼ Shareholder Return◼ Topics in 3 Fields© 2024 HORIBA, Ltd. All rights reserved.

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2024 1Q (Jan.-Mar.) Results（Billions of yen）

Sales was record-high, but net income attributable to HORIBA, Ltd.’s shareholders
decreased due to the gain on the sale of shares of subsidiaries in previous year
2023

2024

1Q Results(Jan.-Mar.)

1Q Results(Jan.-Mar.)vs 2023
Changes%

70.2
10.0+4.3+6.7%

Operating profit

65.8
10.4

- 0.4

-4.2%

O.P.%

15.9%

14.2%

-1.7p

-Ordinary profit

10.3

10.1

- 0.1

-1.5%

Net income attributable
to HORIBA, Ltd.'s
Shareholders

13.5

7.0

- 6.5

-48.1%

132.42
142.16148.63161.33+16.21Sales

USD/JPY
EUR/JPY© 2024 HORIBA, Ltd. All rights reserved.

+19.17： Record-high32024 1Q (Jan.-Mar.) Results by Segment
Sales
2023

2024

1Q Results 1Q Results(Jan.-Mar.) (Jan.-Mar.)AutoP&E
Medical
Semi
Scientific
Total＜Auto＞＜P&E＞＜Medical＞＜Semi＞＜Scientific＞

15.9
5.4
7.3
28.9
8.1
65.8

19.5
5.9
7.6
27.8
9.2
70.2

（Billions of yen）

Operating profit
vs 2023

Changes

2023
%

2024

1Q Results 1Q Results(Jan.-Mar.) (Jan.-Mar.)+3.5+22.5%

0.3

+0.5

+9.9%

0.5

+0.2

+3.9%

-0.0

-1.0

-3.8%

9.7

+1.0

+13.2%

-0.0

+4.3

+6.7%

10.4

0.1
0.3
-0.3
9.7
0.0
10.0

vs 2023
Changes%-0.1-46.0%-0.1-34.1%

-0.2

-+0.0

+0.9%

+0.0--0.4-4.2% ： Record-highIncreased sales in Japan and Asia. Decreased profit mainly due to a change in the product sales mix change and continuous
investment to hydrogen business.
Strong sales in Japan. Decreased in profit mainly due to the investment in the industrial process measurement business.
Increased sales of hematology analyzers in Europe, but temporary decrease in sales in Japan contributed to operating loss.
Sales to semiconductor production equipment manufacturers decreased in Japan.
Increased sales of Raman spectrometers for analysis of advanced materials in Asia and Europe© 2024 HORIBA, Ltd. All rights reserved.

42024 Forecasts（Billions of yen）

Forecasts unchanged, considering exchange rate and market situation.
2024

2023
Results

Previous
Forecasts(as of Feb. 14)

Changes

Forecasts(as of May 14)

vs 2023

vs Previous
Forecasts

321.0
52.0

321.0
52.0

+30.4

-

Operating profit

290.5
47.2

+4.7

-

O.P.%

16.3%

16.2%

16.2%

-0.1p

-

Ordinary profit

48.2

52.7

52.7

+4.4

-

Net income attributableto HORIBA, Ltd.'s
Shareholders

40.3

37.037.0- 3.3-

140.67152.11140.00
155.00145.00160.00

+4.33

+5.00

+7.89+5.00

Sales

USD/JPY
EUR/JPY© 2024 HORIBA, Ltd. All rights reserved.

： Record-high52024 Forecasts by Segment（Billions of yen）

Sales
2023

Results

2024

Previous
Forecasts(as of Feb. 14)

Auto
P&E
MedicalSemi
Scientific
Total

80.4

94.0

24.9

31.5

32.6

34.5

112.8

119.0

39.6

42.0

290.5

321.0

Operating profit
Changes

Forecasts(as of May 14)

94.0
31.5
34.5
119.0
42.0
321.0

vs 2023

2024

2023

vs Previous
Forecasts

Results

Previous
Forecasts(as of Feb. 14)+13.5-1.2

3.0+6.5-

2.4

3.0+1.8-

0.6

1.0+6.1-

40.5

42.0+2.3-

2.4

3.0+30.4-

47.2

52.0

Changes

Forecasts(as of May 14)

3.0
3.0
1.0
42.0
3.0
52.0

vs 2023

vs Previous
Forecasts

+1.7

-

+0.5

-

+0.3

-

+1.4

-

+0.5

-

+4.7-

➢ Forecasts remain unchanged, while the depreciation of the yen is expected to improve earnings, therecovery of the semiconductor market in Japan has been slower than expected.
： Record-high© 2024 HORIBA, Ltd. All rights reserved.

6Operating Profit Analysis (vs 2024 Jan. – Mar.)（Billions of yen）
2023

2024

Jan. – Mar.

Jan. – Mar.

10.45

Decrease
Sales

Increase
COGS-0.66-0.06

Decrease
Gross Profit -0.73

Exchange
impact for
Gross Profit

Exchange
impact for
Expenses

Increase
R&D
Expenses

Increase
OtherExpenses

+2.65

-1.25

-0.4

-0.69

Exchange
Impact ＋1.39

10.00

Increase
Expenses -1.1

Decrease Operating Profit -0.44© 2024 HORIBA, Ltd. All rights reserved.

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Exchange Rate Trend / Forecasts / Impacts
2024

2023
AnnualPreviousForecasts

Actual(as of Feb. 14)

1Qvs 2023(as of May 14)(Annual)USD

140.67140148.63145+4.33

EUR

152.11

155

161.33

160+7.89

Exchange rate impact
for 2024 Forecasts

Exchange rate impact
for 2024 Jan. – Mar.
(vs 2023 Jan. – Mar.)（Billions of yen）

Increase sales+5.06

Increase cost of goods sales-2.41

Impact to gross profit+2.65

Increase expenses-1.25

Impact to operating profit+1.39© 2024 HORIBA, Ltd. All rights reserved.

Forecasts

1 yen impact of Sales and O.P.
(Weak yen)（Billions of yen）

USD
EUR

Sales

Operatingprofit+0.72+0.42+0.28+0.02
8Capital Investment, Depreciation, R&D
2023（Billions of yen）

2024

ActualPreviousForecasts(as of Feb. 14)

Forecasts(as of May 14)

2024
vsPreviousForecasts

vs
2023

ActualJan.-Mar.

Capex

9.1

23.0

23.0

+13.8+0.0

3.0

Depreciation andamortization*

12.6

14.0

14.0

+1.3+0.0

3.1

R&D expenses

20.4

22.6

22.6

+2.1

+0.0

5.4

7.0%

7.0%

7.0%

--

7.7%

to net sales(%)*Amortization of goodwill is included in depreciation.

2024
Topics

PP&E:
Kyoto Fukuchiyama Technology Center new building
Kyoto Fukuchiyama new factory© 2024 HORIBA, Ltd. All rights reserved.

9Shareholder Return
Basic Policy• Dividend payment = 30% of Consolidated net income attributable to HORIBA,
Ltd.’s shareholders to be targeted• Execute special dividend and share buybacks timely and properly,
considering investment opportunities and the cash flow situation.

Dividends per share⚫ 2022 Results:⚫ 2023 Results:⚫ 2024 Forecasts:

245 yen [Interim 65 yen / Year-end 180 yen]
290 yen [Interim 80 yen / Year-end 210 yen]
265 yen [Interim 80 yen / Year-end 185 yen] *Unchanged

Share buybacks⚫ Period⚫ Total number of shares⚫ Total acquisition price© 2024 HORIBA, Ltd. All rights reserved.

February 15, 2024 – April 23, 2024
334,500 shares
Approx. ¥5bn10

Topics in 3 Fields© 2024 HORIBA, Ltd. All rights reserved.

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Materials &Semiconductor

Contribute to productivity improvement in semiconductor production

Release of Reticle / Mask Particle Detection System

Total solution for CMP* slurries manufacturer

Rapid inspection for particle contamination on reticles andContribute to improving productivity

masks in the lithography processand quality of planarization

Reticle / MaskParticle Detection SystemPD Xpadion EX
Target: Annual sales of approx.
4 billion yen in the particle
detection business within theMLMAP2028 period➢ A removal unit is integrated to automate theprocess from particle detection to its removal.
➢ Connecting with the overhead hoist transportsystem accelerates automation and increases
labor saving in the production process.
© 2024 HORIBA, Ltd. All rights reserved.

Centrifugal Nanoparticle Analyzer

Partica CENTRIFUGE[Objective]
Analyzing polishing performance[Evaluation]
Particle size in CMP slurries,pH, etc.

[Objective]

CMP slurries

Wafer

Measuring the condition ofpolished wafers[Evaluation]

Wafer thickness, stress, etc.
Spectroscopic Ellipsometer

UVISEL Plus
*CMP : Chemical Mechanical Polishing12

Bio＆Healthcare

Development in the Bio & Healthcare business

Investment for the growth in India

Approach to global pharmaceutical market

Background➢ Increased demand for blood cell counts and clinical chemistry tests➢ Request of local production in India

Background➢ Speeding up of microbiological testing, aimed at improving
quality and productivity

Action taken by HORIBA India➢ Expanding the line-up of blood cell counter and clinical chemistryequipment➢ Contributed to timely microbiological management➢ Reduction of field workload for culture management

Clinical Chemistry
testing equipment

Yumizen C150

Electrolyte Analyzer

Yumizen E60

RapicaYumizen CA40

➢ Responded to the ”Make in India” initiative, using the Nagpur
factory, HORIBA India

Horiba’s testing equipment in operation

CAGR 27% for 2019-2023© 2024 HORIBA, Ltd. All rights reserved.

Rapid microbiological analyzer

Clinical Chemistry
testing equipment（Examples of application）•

Microbial monitoring of pharmaceutical water•Microbiological testing during the production process ofbiopharmaceuticals•Evaluation of cleaning of equipment during batch changeover ofpharmaceutical products•

Monitoring of the manufacturing environment for regenerative medicalproducts
13Energy &Environment

Expansion of the hydrogen business in mobility field

Accelerating development of solutions for fuel cell vehicle development using the STARS①Fuel cell system

3 Evaluation facility for fuel cell power train

Performance evaluation of fuel cells andperipherals, assuming actual usage conditions②Evaluation facility for fuel cellsystem
Evaluation facility that combines hydrogensensors, exhaust system, temperature controlsystem, etc.

2

Evaluation facility forfuel cell system

Hydrogensensors

Exhaustsystem

power train

Test automation system
STARS Series

Temperature
regulator

1③ Evaluation facility for fuel cell

For Fuel Cell system / FC- PT test

Battery

Fuel cellsystem

orSimulator

HydrogentankControl systems cultivated throughengine vehicles development

Apply them to solutions for fuelcell vehicle development© 2024 HORIBA, Ltd. All rights reserved.

Charging anddischarging equipment

HydrogenWheel dyno14© 2024 HORIBA, Ltd. All rights reserved.