Nomura Investment Forum Asia 2021

Financial Information
HORIBA, Ltd.
May, 2021© 2021 HORIBA, Ltd. All rights reserved.

1

Contents
 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast
 Topics – HORIBA’s Contribution for Social Issues
 Shareholder Return Financial Data Corporate Profile© 2021 HORIBA, Ltd. All rights reserved.

2

Contents
 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast
 Topics – HORIBA’s Contribution for Social Issues
 Shareholder Return Financial Data Corporate Profile© 2021 HORIBA, Ltd. All rights reserved.

3

Review of 2020

External
Events Economic contraction, driven by COVID-19 impacts
 Sluggish capital investment and accelerated investment inelectrification by the automobile industry
 Increased investment in semiconductor production equipment due
to increased demand for data transmission
 Heightened interest in life science

Internal
Events Continued business activities as much as possible despite the
COVID-19 restrictions on public movement in various countries
 Continued growth investment mainly in Japan, China and Europe
 Promoted use of the “Good Place work system,” which wasdeveloped from the work-at-home system, and the online
communication tool

© 2021 HORIBA, Ltd. All rights reserved.

4

2020 Results(Billions of Yen)

2020

2019
Results

Forecast(as of Nov. 12)

Results

vs
2019

vs
Forecast(as of Nov. 12)

188.0
16.0

187.0
19.6

-13.1

-0.9

Operating Profit

200.2
20.9

-1.2

+3.6

O.P.%

10.4%

8.5%

10.5%

＋0.1p

＋2.0p

Ordinary Profit

20.5

15.0

19.3

-1.1

+4.3

Net Income attributableto Owners of Parent

15.4

10.5

13.1

-2.2

+2.6

USD/JPY

109.03122.03107.00120.00106.76121.88

-2.27

-0.24

-0.15

+1.88

Sales

EUR/JPY© 2021 HORIBA, Ltd. All rights reserved.

5

2020 Results by Segment(Billions of Yen)

Operating Profit

Sales
2020

2019

:Record-highResults

Forecast(as of Nov. 12)

Results

2020

2019
vs
2019

vs
Forecast

Results

Forecast(as of Nov. 12)

Results(as of Nov. 12)

vs
2019

vs
Forecast(as of Nov. 12)

Auto

81.0

67.0

63.9

-17.1

-3.0

6.4

0.5

2.4

-3.9

+1.9

P&E

19.5

18.0

18.3

-1.1

+0.3

1.6

1.0

1.6

-0.0

+0.6

Medical

25.3

21.0

21.0

-4.3

+0.0

1.3

-0.5

-0.4

-1.7

+0.0

Semi

47.1

55.5

56.9

+9.7

+1.4

10.7

14.0

14.0

+3.3

+0.0

Scientific

27.1

26.5

26.8

-0.3

+0.3

0.7

1.0

1.9

+1.2

+0.9

Total

200.2

188.0

187.0

-13.1

-0.9

20.9

16.0

19.6

-1.2

+3.6

© 2021 HORIBA, Ltd. All rights reserved.

6

2020 Results (B/S, CF)

B/S

Total assets were ¥328.0bn, up ¥12.9bn, by establishingsome bases and financing
Equity ratio: 54.3%(compared to the end of Dec. 2019)

CF

Operating CF: Cash in ¥32.2bn due tooperating profit
Free CF: + ¥18.2bn
Investing CF: Cash out ¥14.0bn due tocapital investments
Financial CF: Cash in ¥0.8bn due tobond redemption and long-term financing© 2021 HORIBA, Ltd. All rights reserved.

7

Contents
 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast
 Topics – HORIBA’s Contribution for Social Issues
 Shareholder Return Financial Data Corporate Profile© 2021 HORIBA, Ltd. All rights reserved.

8

2021 1Q (Jan-Mar) Results（Billions of yen）

Increased in sales and profits mainly due to an increase insales of the Semiconductor segmentvs 2020

2020

2021

1Q Results(Jan-Mar)

1Q Results(Jan-Mar)

Changes

%

48.5
5.9

+3.5

+8%

Operating Profit

44.9
3.8

+2.0

+52%

O.P.%

8.7%

12.2%

＋3.5p

-

Ordinary Profit

3.9

5.8

+1.9

+51%

Net Income attributableto Owners of Parent

2.2

3.9

+1.6

+71%

108.86120.08106.09127.81

-2.77

Sales

USD/JPY
EUR/JPY© 2021 HORIBA, Ltd. All rights reserved.

+7.73
9

2021 1Q (Jan-Mar) Results by Segment
Sales
2020

1Q
Results(Jan-Mar)

Auto
P&E

14.8

MedicalSemi

5.7

Scientific
Total<Auto><P&E><Medical><Semi><Scientific>

4.5

13.8
5.9
44.9

2021

1Q Results(Jan-Mar)

12.1
5.2
6.3
18.4
6.4
48.5

（Billions of yen)

Operating profit
vs 2020

Changes

2020%

1Q
Results(Jan-Mar)-2.7-18.3%

0.3+0.6+13.7%

0.2

+0.5

+9.6%

0.1

+4.5

+33.2%

3.2

+0.5

+8.9%

-0.0

+3.5

+8.0%

3.8

2021

1Q Results(Jan-Mar)

-0.4
0.6
0.1
5.2
0.2
5.9

vs 2020
Changes

-0.7

%

-

+0.4 +179.3%
+0.0

+4.9%

+2.0

+62.2%

+0.3

-

+2.0

+52.4%

Declined in sales in Japan and Europe, as a decrease in backlogs of the EMS1 business and MCT2 businessat the end of FY2020
Increased in sales of stack gas analyzers in Asia
Increased in sales of hematology analyzers in the Americas and the other areas
Sales to semiconductor production equipment manufacturers increased, in response to expansion ofsemiconductor manufacturers’ capital expenditures
1: Emission
2: Mechatronics
Due to a gradual recovery of R&D investment by the private sector, sales increased© 2021 HORIBA, Ltd. All rights reserved.

10

Contents
 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast
 Topics – HORIBA’s Contribution for Social Issues
 Shareholder Return Financial Data Corporate Profile© 2021 HORIBA, Ltd. All rights reserved.

112021 Forecasts（Billions of yen）

By taking into account the recent order trend of the Semiconductor segment,
revised forecasts of sales and all profits upwardly

Results

Changes

2021

2020
Previous
Forecasts(as of Feb. 15)

Forecasts(as of May 13)

vs 2020

vs Previous
Forecasts

200.0
20.0

210.0
24.5

+22.9

+10.0

Operating Profit

187.0
19.6

+4.8

+4.5

O.P.%

10.5%

10.0%

11.7%

+1.2p

+1.7p

Ordinary Profit

19.3

19.5

24.0

+4.6

+4.5

Net income attributableto Owners or Parent

13.1

13.5

16.0

+2.8

+2.5

USD/JPY106.76121.88105.00125.00108.00128.00

+1.24

+3.00

+6.12

+3.00

Sales

EUR/JPY© 2021 HORIBA, Ltd. All rights reserved.

122021 Forecasts by Segments（Billions of yen）

Sales
Previous
Results:Record-highChanges

2021

2020

Forecasts(as of Feb. 15)

Auto

63.9

64.0

P&E

18.3

21.0

Medical

21.0

25.0

Semi

56.9

61.0

Scientific

26.8

29.0

Total

187.0

200.0

Operating

Forecasts(as of May 13)

64.0
21.0
25.0
71.0
29.0
210.0

Previousvs 2020

vs Previous
Forecasts

Changes

2021

2020

Results

Forecasts(as of Feb. 15)

+0.0

-

2.4

1.0

+2.6

-

1.6

1.5

+3.9

-

-0.4

0.5

+14.0

+10.0

14.0

15.5

+2.1

-

1.9

1.5

+22.9

+10.0

19.6

20.0

Forecasts(as of May 13)

1.0
1.5
0.5
20.0
1.5
24.5

vs 2020

vs Previous
Forecasts

-1.4

-

-0.1

-

+0.9

-

+5.9

+4.5

-0.4

-

+4.8

+4.5

<Semi>
Revised sales upward by 25% year-on-year, considering the recent order trend<General> Recognize the procurement risk mainly due to the global shortage of electronic components© 2021 HORIBA, Ltd. All rights reserved.

13

Contents
 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast
 Topics – HORIBA’s Contribution for Social Issues
 Shareholder Return Financial Data Corporate Profile© 2021 HORIBA, Ltd. All rights reserved.

14

HORIBA’s Contribution to Social Issues
Business Expansion in Response to Various Social Issues
1. Market Oriented BusinessTo develop analysis and measurement solutions, utilizing HORIBA’s core technologies,
in the leading three business fields of the mega trend

Energy & Environment

Bio & Healthcare

Materials & Semiconductor

Three Fields

2. Solution Provider Beyond Life Cycle Management
To support customers’ core businesses from all aspects – from product introduction to replacement

3. HORIBA Core Values “The Next Stage of Super Dream Team”
Mid-Long Term Management Plan ”MLMAP2023”© 2021 HORIBA, Ltd. All rights reserved.

15

Developing the Sensing Technology
for the Semiconductor Market

MLMAP2023
Market Oriented Business
Materials & Semiconductor

Promote Optical Smart Sensing Technology
 From the perspective of the Optical Smart Sensing (OSS) technology, utilize various sensing technologies
owned by the HORIBA Group globally to aggressively launch applications in the semiconductor market.
 Established a department specialized in OSS at HORIBA STEC, a main group company of thesemiconductor business.
Mass Flow
Controller

ChemicalConcentration Monitor【Perspective of Utilization of Optical Smart Sensing Technology】
 Contribution to productivity improvement in semiconductor manufacturing processes
 Use of big data in the process control of semiconductor manufacturing equipment

In-situ Measurement Devices

Process Gas
MonitorEstablished the business for thesemiconductor market© 2021 HORIBA, Ltd. All rights reserved.

End-point
MonitorGas Monitor

Measurement Equipment Used in a Wide
Range of Applications

Particle Detection
Systems

X-ray Fluorescence
Analyzers

Spectroscopic
Ellipsometry

Intend to develop as a new business for the semiconductor market
16

Development of Healthcare Business<Medical Business>

MLMAP2023
Market Oriented Business
Bio & Healthcare

Expand Business in the US by Acquiring MedTest
Engaged in R&D and production of a wide range of biochemical
reagents. Possesses the application development function, which is
combined with equipment.
Established a system that complies with FDA1 regulation, which
requires world-class rigorous quality systems
1: Food and Drug Administration

Canton, Michigan, USA

Company
name:MedTest Holdings Inc.

Established:

2011

Sales:

Approx. 1.3 bln yen (Preliminary figure for 2020)

Workforce:

52（Group）

Contract date:

January 28, 2021

Applies to 4 affiliated companies

Accelerate reagent production
and application developmentin the biochemistry-related
fieldsStrengthen the R&D structure
in Japan, France and the US

USA
Strengthening
the medical
business

Aiming for further business expansion in the IVD2 field© 2021 HORIBA, Ltd. All rights reserved.

2IVD: In Vitro Diagnostics

17

Business Expansion
in the Pharmaceutical Industry

MLMAP2023
Market Oriented Business
Bio & Healthcare

Contribution in a Wide Range, from R&D to Production Processes
Pharmaceutical process evaluation

Analysis of exosomes1 in blood

Highly-sensitive and rapid microbial
contamination inspection

Process Raman System

Nanoparticle Measurement
Instrument

Microbial Rapid
Inspection Device

Analytical Probe &Microscopic Raman

ViewsizerTM
3000
1: Exosomes: Granular materials, diameter
50-150nm, secreted by various cells

Probe

Probe
Probe

Bioreactor© 2021 HORIBA, Ltd. All rights reserved.

 Reactor monitoring in thepharmaceuticalmanufacturing process• API concentration, crystal
polymorph monitoring• Control of hydrates, etc.

RapicaInspection for vaccine shipping

Quantitative analysis of medicinal
ingredients in tablets

Fluorescence Analyzer

Transmission Raman
Spectrometer

Aqualog
18

Hydrogen Energy Society and HORIBAMLMAP2023
Market Oriented Business
Energy & Environment

Hydrogen Energy: "Clean," "Storable and Transportable," and "Inexhaustible"
Hydrogen Smartly
 Production

 Storage
rf-GD-OES1 (GDS)
Evaluate thehydrogen
distribution during
plating. Identify therelease of hydrogen

Evaluator
EC/ES
Control thetemperature andflow volume ofwater and evaluate
the performanceand efficiency ofwater electrolysis
cells up to 5000 kW.

Water Electrolysis Cell
Performance Evaluation

1: Radio Frequency Glow
Discharge OpticalEmission Spectrometry

Hydrogen Embrittlement Evaluation

A wide range of coverage
from demonstration experiments to practical use

 Use
Evaluator
EC/ES
Meet the fuel cell
test requirements of
the R&D stage andconduct
performance
evaluation andcycle evaluation

Fuel Cell System Evaluation

Please see the link to the website for other products (Japanese only).
https://www.horiba.com/jp/corporate-news/events/horiba-showcase/wsew/2020/corner/fc-expo/

Established the Hydrogen Energy Project
 "Hydrogen Energy Project,” a cross-organization consisting of five existing businesses, was established in order to strengthen efforts in thehydrogen-related market.
 Aiming to contribute to a hydrogen energy society by using HORIBA's core technology in capturing various aspects of hydrogen© 2021 HORIBA, Ltd. All rights reserved.

19

MLMAP2023
Market Oriented Business

Vehicle Electrification and HORIBA

Energy & Environment

Provide Total Solution for the Vehicle Development – from Internal Combustion Engine to Electrification
Vehicle type

R&D Technology requirement
VehicleDrivetrain

EngineEngine✔

✔

✔

(HEV) Hybrid Electric Vehicle

Engine + Motor

✔

✔

✔

✔

(PHEV) Plug-in Hybrid Electric Vehicle

Motor + Engine

✔

✔

✔

✔

(FCEV) Fuel Cell Electric Vehicle

Motor

✔

✔

✔

(BEV) Battery Electric vehicle

Motor

✔

✔

✔

(ICE)

Electrified
VehiclePowertrain

Internal Combustion Engine Vehicle

VehicleDrivetrain

EngineBatty/Fuel cell

Battery/Fuel Cell

Measurement
Analyzer

Testing
Procedures

Engineering

HORIBA's Technologies© 2021 HORIBA, Ltd. All rights reserved.

20

Established Vehicle Development Center forConnected and Autonomous

MLMAP2023
Market Oriented Business
Energy & Environment

Comprehensive Support from Design to feasible verification of vehicle
Comprehensive R&D and Engineering facilities(Open in Mar. 2021)
Support vehicle developmentfrom four aspects

PHYSICALCOMMUNICATION

Test course for the limit ofcontrollability at high speed

Test course for urban environment

SIMULATIONENABLERS© 2021 HORIBA, Ltd. All rights reserved.

Validation area for automatedvalet parking

Test course for public roadenvironment21

Vehicle Electrification and HORIBA[HORIBA MIRA]

MLMAP2023
Market Oriented Business
Energy & Environment

HORIBA MIRA's Latest Projects
HORIBA MIRA & REE Automotive

HORIBA MIRA & TOGG

 Invited REE Automotive1 to open its Engineering Center of
Excellence in MIRA Technology Park Supporting REE Automotive to develop their EV platform
and to supply globally Be a key partner of TOGG during the development
project of its pioneering electric SUV
 TOGG will utilize the test sites and equipment in MIRA
technology park to implement the vehicle durability tests
and others MIRA technology park
 Lease out the R&D Buildings
to vehicle manufacturing
companies etc.
 Companies, which supply theinnovative vehicle-related
products globally, are locatedin MIRA technology park Up to 38 test equipment supports
vehicle development which
satisfy the global standard Test circuits in HORIBA MIRA

1: REE Automotive Ltd : a start-up company related to EV in Israel© 2021 HORIBA, Ltd. All rights reserved.

22

Initiatives for Open Innovation

MLMAP2023
Market Oriented Business
Energy & Environment/Materials & Semiconductor

Collaborate with Academia Globally
HORIBA & University of California, Irvine A new research institute supported by HORIBA will start
operation soon.
 Consists of four labs: "Vehicle Evolution," "Grid Evolution," "Connected andAutonomous Mobility," and “Energy-related Materials Research (Analytic)"
 Work on research themes that cross the fields of mobility and energy

HORIBA Institute for Mobility and Connectivity

HORIBA & National Institute ofAdvanced Industrial Science and Technology (AIST) Established "HORIBA Institute for Particle Analysis
in AIST TSUKUBA"
 Through open innovation, aim for practical application of its world-class particle measurement system that contributes to thedevelopment of nano-materials

HORIBA Institute for Particle Analysis
in AIST TSUKUBA<HIPAA>A system for accurate, easymeasurement of minuteparticles, such as PM2.5

Promote innovation for next-generation mobility
and urban energy networks© 2021 HORIBA, Ltd. All rights reserved.

A system for analysis andevaluation of advanced
materials, such as carbon
nanotubes

Immediately utilize cutting-edge research
directly linked to industry for business23

Opened a Production Base forAdvanced Spectroscopic Technology in Europe

MLMAP2023
Market Oriented Business
Materials & Semiconductor

Leading the Market as an Advanced Company in Spectroscopic Technology
 Relocated an R&D and production base in Lille, France and doubled thebuilding area.
 Strengthened spectroscopic technology engineering and production
functions.
 Expanded the target market to a wide range of fields from semiconductors
to pharmaceuticals and drug discovery, and cells and genes.

Increased importance of the bio-lifescience field
Rising demand in spectroscopic
analysis technology and equipment

Location:
LabRAM Soleil

Strengthened functions and realized
development and supply of higher
quality products.
© 2021 HORIBA, Ltd. All rights reserved.

【Raman Spectrometers】
Use for analysis of material
composition and molecular
structure

Premises of HORIBAFRANCE SAS（Lille, France ）Workforce: 106 (as of Jan. 2021)
Investment: Approx. 1.3 billion yen
24

Aim to Establish New Business Model

MLMAP2023
Solution Provider
Beyond Life Cycle Management

Built New Headquarters for HORIBA TECHNO SERVICE Functions as the forefront of
the sales division that createsa continuous use cycle for
HORIBA products
 Opened ”Analytical Solution
Plaza” to propose totalsolutions including analysis(relocated from and expanded
the former HORIBA Analytical
Laboratory).

Start of operation in Feb. 2021
Total cost: Approx. 3.8 billion yen

MLMAP2023

Maintenance services using
Operating data

Consulting Using
Measurement Data

Aiming for establishing a business model centered on solutions proposals and data management© 2021 HORIBA, Ltd. All rights reserved.

25

Participation in the HAYABUSA2
Sample Analysis Project

MLMAP2023
Solution Provider
Beyond Life Cycle Management

Participation in the Initial Analysis Project Six international teams are conducting initial analysis of samples takenfrom the asteroid, Ryugu.
 HORIBA TECHNO SERVICE, which specializes in high-precision
microanalysis, belongs to the chemical analysis team.
 Analysis, using a fluorescent X-ray analyzer, is scheduled to begin in
June 2021 at the "Analytical Solution Plaza“ in the new building（Illustrated by Akihiro Ikeshita）【X-ray fluorescence analysis】• Analyze the constituent elements andcomposition ratio of a substance from the energy
and intensity of fluorescent X-rays generated
when a sample is irradiated with X-rays.
• One of the HORIBA’s core technologies(From right) Dr. Hisayoshi Yurimoto, Leader of Chemical
Analysis Team and Professor of Hokkaido University
Mr. Hiroo Chihara, President, HORIBA TECHNO SERVICE【Asteroid Ryugu】• An unknown rock, located 340 million kilometersfrom the earth.
• Ryugu retains information on the early formation
stages of solar system and is considered to be an
asteroid rich in organic matter and water.
• Hayabusa2 took 5.4 grams sample from theasteroid.

Expect elucidation of the mystery of the origin of asteroids, the birth of the solar system, and the birth of life
© 2021 HORIBA, Ltd. All rights reserved.

26

Awarded Nadeshiko Brands and Health & Productivity
Stock Selection Program by METI and Tokyo Stock Exchange
Activities aimed at realizing a better working environment
highly evaluated from the stock market
 Evaluated the engagement based on
our Diversity promotion activities“HORIBA Stained Glass Project”
 Selected for three consecutive years
following 2019 Evaluated our activities based on the“Health promotion activities of mind
and body”, the policy declared by the
top management
 Selected for five consecutive years
following 2017
© 2021 HORIBA, Ltd. All rights reserved.

27

Contents
 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast
 Topics – HORIBA’s Contribution for Social Issues
 Shareholder Return Financial Data Corporate Profile© 2021 HORIBA, Ltd. All rights reserved.

28

Shareholder Return
 Dividend payment + Share buyback = 30% of Consolidated net profit to be targeted Remaining earnings are retained internally for strategic investment (i.e. facilities, M&A)

Basic Policy

Dividends per share and Share buybacks
 2019 Results: 130YEN [Interim 50yen / Year-end 80yen] 2020 Results: 90YEN [Interim 30yen / Year-end 60yen] 2021 Forecast: 110YEN [Interim 40yen / Year-end 70yen]
配当推移
Ordinary Div. (yen)

160
44.0%

Commemorative Div. (yen)Total Return Ration (%)
20

Share Buyback

120

60.0%

145

45.0%

35.4%
29.0%

Share Buyback

80
19.0%

20.0%

17.0%

40

9.0%
39

44

0
2007

2008

13

17

2009

2010

© 2021 HORIBA, Ltd. All rights reserved.

28.2%

26.8%

30.6%

30.0%

50

27.6%

10

85

40

40

2011

2012

60

67

70

2013

2014

2015

116

28.8%

27.4%
125

29.0%
30.0%

130
90

110
15.0%

0.0%
2016

2017

2018

2019

2020

2021(F)

29

Contents
 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast
 Topics – HORIBA’s Contribution for Social Issues
 Shareholder Return Financial Data Corporate Profile© 2021 HORIBA, Ltd. All rights reserved.

30

Operating Profit Analysis (vs 2020 Jan - Mar)

(Billions of Yen)

2020

2021

Jan. – Mar.

Jan. – Mar.

3.89

Increase
Sales

+3.36

Exchange
Impact for
Gross Profit

Exchange
Impact for
Expenses

-1.84

-0.05

-0.15

+0.28

+1.51

Exchange
Impact-0.20

Decrease
Expenses

Increase
Cost of Goods
Sales

Increase
Gross Profit

Decrease
R&D Cost

Decrease
Other
Expense

+0.44

5.93

+0.73

Increase Operating Profit +2.04© 2021 HORIBA, Ltd. All rights reserved.

31

Impact of Fluctuation in Foreign exchange (Billions of Yen)
Exchange rate impact
for 2021 Forecast

Exchange rate impact
for 2021 Jan. - Mar.

1 yen impact of Sales and O.P.
(Yen appreciation)(vs 2020 Jan. - Mar.)
Increase Sales+0.22

Increase Cost of Goods Sales-0.28

Increase Expenses-0.15

Impact to Operating Profit

-0.20

(Yen)

USD
EUR

2020

2021

Jan - MarJan - Mar108.86120.08© 2021 HORIBA, Ltd. All rights reserved.

Sales

USD
EUR

-5.40
-3.20

Diff.

(Yen)

106.09-2.77

127.81

+7.73

USD
EUR

Operating
Profit

-2.60
-0.00
2021
Forecast
108.00128.0032

Capital Investment, Depreciation, R&D
2021

2021

Old Forecast

Forecast

Actual(as of Feb. 15)(as of May 13)

2020

Results

Capex
Depreciation andamortization
R&D expenses
to net sales(%)

2021
Topics(Billions of Yen)

Diff.

Jan - Mar

15.1

16.5

16.5

-

3.4

9.6

10.5

10.5

-

2.4

15.5

17.0

17.0

-

3.8

8.3%

8.5%

8.1%

8.0%

PP&E:
Continuation: investment to HORIBA FuelCon’s new facility, a new facility in China, etc.
New: enhance the base of global production© 2021 HORIBA, Ltd. All rights reserved.

33

Contents
 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast Outlines by Business Segment
 Topics – HORIBA’s Contribution for Social Issues
 Shareholder Return Financial Data Corporate Profile© 2021 HORIBA, Ltd. All rights reserved.

34

Five Business Segments & Major Products
Figures are the sales composition ratio for FY 2020​

Automotive（34%）

Emission Measurement
Systems

Process &Environmental

MedicalDiagnostics

（10%）

（11%）

Stack Gas Analyzers

Automatic Blood Cell
Counters plus CRP© 2021 HORIBA, Ltd. All rights reserved.

Semiconductor

Scientific

（31%）

（14%）

Mass Flow Controllers

Raman Imaging Device

35Global Network
Sales by region●(as of Dec 2020): Major business hubs

Americas

Europe

Asia

Japan

15%

21%

33%

31%

Asia

Japan

18%

38%

Employee headcount by region

Americas(as of Dec 2020)

Europe11%

33%

Number of companies（as of Dec 31, 2020)© 2021 HORIBA, Ltd. All rights reserved.

49

Overseas sales ratio（as of Dec 2020)

69%

Foreign employee ratio（as of Dec 31, 2020)

62%

Achieving Sustainable Growth Through M&A
Major M&As
1996
ABX （France）【Medical】

1997
Jobin Yvon

2005
SCHENCK DTS【Scientific】【Automotive】（France）（Germany）

2015
MIRA （UK）【Automotive】

2018
FuelCon（Germany）【Automotive】

187.0 billion yen

Trends in consolidated sales

Six-fold growth in corporate scale in 30 years

1990

2000
© 2021 HORIBA, Ltd. All rights reserved.

2010

2020
37

HORIBA’s Business Domain
Space
Development
Agriculture
Plant factory
Soil analysis
Food safety
Safety management

New Material
Development
Secondary battery
Biomaterial
Steel and ceramics

Planetary probe
Auroral analysis

IT Infrastructure

Health and Security

IoT, Cloud, 5G
Automation informatics

Semiconductor device
Solar panels
Petrochemical plant

Manufacturing Process
Semiconductor device
Solar panels
Petrochemical plant

Water Quality
Management

Global Environment
Conservation

Monitoring system
Compliance with
waste water regulations

Monitoring air pollution
Renewable energy/power plant
Greenhouse gases© 2021 HORIBA, Ltd. All rights reserved.

Automotive/Ship Development
Ultra-low emission
Vehicle electrification, EV
Autonomous driving
Regulatory compliance© 2021 HORIBA, Ltd. All rights reserved.

39