Summary of Consolidated Financial Statements for the Six Months Ended June 30, 2019
(Japanese GAAP)
August 6, 2019
Company name

HORIBA, Ltd.

Listed stock exchanges: Tokyo

Listing code

6856

Representative

Atsushi Horiba, Chairman & Group CEO

URL: http://www.horiba.com

Contact

Junichi Tajika, Department Manager,General Administration Division, Accounting Dept.

TEL: (81)75-313-8121

Scheduled date of start of interim dividend payment: September 24, 2019
(Figures have been rounded down to the nearest million yen)

1. Consolidated Results for the Six Months Ended June 30, 2019 (January 1, 2019 - June 30, 2019)(Percentages represent changes from the corresponding period in the previous year)(1) Consolidated Operating Results
Net Income Attributable
Net Sales
Operating Income
Ordinary Income
to Owners of Parent%

Millions of yen%

Six months ended 6/30/19
91,607
8,282 -41.1
8,040
-8.4
-41.4
14,057
13,731
Six months ended 6/30/18
99,966
14.5
44.9
43.5
(Note) Comprehensive Income: FY2019Q2 3,877 million yen (-39.7%), FY2018Q2 6,425 million yen (-16.7%)

Millions of yen

5,770
10,503

-45.1
62.6

%

Millions of yen

Net Income Attributableto Owners of Parent
per Share
Yen

Net Income Attributableto Owners of Parent
per Share (Diluted)
Yen

136.84249.14136.24248.08Six months ended 6/30/19
Six months ended 6/30/18

Millions of yen%(2) Consolidated Financial Position
Total Assets

Shareholders'Equity Ratio

Net Assets

Millions of yen

Millions of yen%

As of 6/30/19
273,685
162,00858.9
277,368
162,018
58.2
As of 12/31/18(Reference) Net assets excluding subscription rights to shares and non-controlling interests:
As of June 30, 2019: 161,238 million yen; As of December 31, 2018: 161,362 million yen
2. Dividends
Dividend per ShareFirst
quarter

SecondquarterYen

Thirdquarter
Yen

Year end
Yen

Total
Yen

Yen

Year ended 12/31/18
50.00
145.00
95.00
－
－
50.00
Year ending 12/31/19－
Year ending 12/31/19
80.00
130.00－(Forecast)(Note) Changes in the latest dividend forecasts released: None
Total Year-end dividend for fiscal year 2018 of 95 yen per share:
Year-end ordinary dividend of 75 yen and commemorative dividend for the 65th anniversary of the company foundation of 20 yen
3. Consolidated Forecast for the Year Ending December 31, 2019 (January 1, 2019 - December 31, 2019)(Percentages represent changes from the previous fiscal year)

Operating Income

Net Sales

Full year

Millions of yen%

213,000

1.2

Millions of yen

Net Income Attributableto Owners of Parent

Ordinary Income

Net Income Attributableto Owners of Parent
per Share%

Millions of yen%

Millions of yen%

Yen

25,000 -13.3

24,500-13.5

17,500-21.6

414.93(Note) Changes in the latest business forecasts released: Yes

1

HORIBA, Ltd. (Consolidated)

Notes(1) Changes in significant subsidiaries during the period(Changes in specified subsidiaries that caused a change in the scope of consolidation): None
(2) Application of the accounting method specific to quarterly consolidated financial statements: Yes(3) Changes in accounting policies, accounting estimates and retrospective restatement① Changes in accounting policies associated with revision of accounting standards: Yes② Changes in accounting policies arising from other than the above: None
③ Changes in accounting estimates: None
④ Retrospective restatement: None
(4) Number of shares outstanding (common stock)① Shares issued (including treasury stock)② Treasury stock

June 30,2019
42,532,752
356,472

December 31, 2018
42,532,752
362,304③ Average number of outstanding sharesJan. - Jun., 201942,173,185

Jan. - Jun., 2018
42,156,593

Note 1. This consolidated financial report is not subject to quarterly review by certified public accountants or accounting firms.
Note 2. Appropriate use of business forecasts and other important information
The forecasts of dividend amount and business performance contained in this report have been made based on certain
future assumptions, outlooks, and plans which are available at the HORIBA Group as of August 6, 2019. However, due torisks and various uncertain factors such as future business operation policies, changes in the economic environment inJapan and overseas, fluctuation of currency rates, it is possible that actual performance would vary considerably from theforecasts.

2

HORIBA, Ltd. (Consolidated)

1.

Qualitative Information Concerning Consolidated Results(1) Information Concerning Consolidated Operating Results(For details, see page 11, “3. Supplemental Information - HORIBA, Ltd. Financial Highlights for the Six Months Ended
June 30, 2019”)
During the six months ended June 30, 2019 (the first half year), HORIBA, Ltd. (“the Company”) and its consolidated
subsidiaries (together “the HORIBA Group” or “HORIBA” as a consolidated group) decreased sales by 8.4% year-on-year
to 91,607 million yen, mainly due to a decline in sales in the Semiconductor Instruments & Systems segment. Operating
income decreased by 41.1% to 8,282 million yen and ordinary income by 41.4% to 8,040 million yen, while net income
attributable to owners of parent also decreased by 45.1% to 5,770 million yen.
The operating results of each business segment are summarized as follows.
(Automotive Test Systems)
Owning to an increase in sales in Asia and Europe, segment sales increased by 5.1% y-o-y to 34,381 million yen. On the
profit side, operating income decreased by 35.7% to 1,599 million yen due to a decline in profitability, caused by a change
in geographical sales mix and other factors, and an increase in expenses, which stemmed from investments, including
R&D expenses.
(Process & Environmental Instruments & Systems)
Due to tough comparison to the first six months of the previous year when a large project was recorded in Asia, segment
sales decreased by 0.9% y-o-y to 9,161 million yen and operating income decreased by 23.6% to 663 million yen.
(Medical-Diagnostic Instruments & Systems)
Segment sales decreased by 3.6% y-o-y to 12,667million yen, as the depreciation of the euro against the yen deflated
sales when translated into yen. On the profit side, operating income decreased by 29.3% to 709 million yen, partly due toan increase in R&D expenses.
(Semiconductor Instruments & Systems)
In response to semiconductor manufactures’ capital expenditure adjustments, sales to semiconductor production
equipment manufactures decreased. Segment sales consequently decreased by 29.8% y-o-y to 22,705 million yen andoperating income decreased by 47.3% to 5,399 million yen.
(Scientific Instruments & Systems)
Owning to an increase in sales in Asia and the Americas, segment sales increased by 1.2% y-o-y to 12,691 million yen,while operating loss of 90 million was recorded (compared to operating loss of 545 million yen in the first six months of theprevious year).

3

HORIBA, Ltd. (Consolidated)(2) Information Concerning Consolidated Earnings Forecasts for FY2019
HORIBA’s full year consolidated earnings forecast is as follows:
Consolidated forecast of full year FY2019(Amount: millions of yen)Previous

Revised

Forecast

Forecast(As of May 14)(As of Aug. 8)

Net sales

218,000

213,000-5,000Operating income

29,00025,000-4,000Ordinary income

28,50024,500-4,00020,00017,500-2,500Net income attributableto owners of parent

Changes

Consolidated forecast of full year FY2019 by segment
Net sales(Amount: millions of yen)Previous

Revised

Forecast

Forecast(As of May 14)(As of Aug. 6)

85,00085,000-20,00020,000-

Medical28,00028,000-

Semiconductor

55,00050,000-5,000Automotive(Amount: millions of yen)Previous

Revised

Forecast

Forecast(As of May 14)(As of Aug. 6)

9,000

8,000

-1,000

2,000

2,000

-

Medical

2,000

2,000

-

Semiconductor

15,00012,000-3,000Scientific

1,000

1,000

-

Total

29,00025,000-4,000Changes

Automotive

Changes

Process &Process &Environmental

Operating income

Scientific30,00030,000-

Total

218,000

213,000-5,000

Environmental

With regard to consolidated earnings forecasts for the current fiscal year, overall sales forecast has been revised
downward by 5,000 million yen to 213,000 million yen, while operating income forecast has been revised downward by
4,000 million yen to 25,000 million yen. This decrease in operating income forecast has led to downward revision by
4,000 million yen in ordinary income forecast and 2,500 million yen in forecast for net income attributable to owners ofparent.
By business segment, the Automotive Test Systems segment has revised downward its operating income forecast by
1,000 million yen, taking into account the progress up to the second quarter of this year. The Semiconductor Instruments& Systems segment revised downward its sales and operating income forecast by 5,000 million yen and 3,000 million yen
respectively, after taking into account the recent order trend and other factors.
The dividend forecast for the current fiscal year has remained unchanged.
(Disclaimer regarding business forecasts)
The forecasts of dividend amount and business performance contained in this report have been made based on certain
future assumptions, outlooks, and plans which are available at the HORIBA Group as of August 6, 2019. However, due torisks and various uncertain factors such as future business operation policies, changes in the economic environment inJapan and overseas, fluctuation of currency rates, it is possible that actual performance would vary considerably from theforecasts

4

HORIBA, Ltd. (Consolidated)2. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets
Amount: millions of yen
FY2018(As of December 31,
2018)

FY2019 first half
(As of June 30, 2019)

Cash and bank deposits

63,63264,095Trade notes and accounts receivable

59,11149,810Marketable securities

2,399

2,453

Merchandise and finished goods

20,018

19,833Work in process

19,843

21,798Raw materials and supplies

15,276

14,057

Other current assets

8,290

8,584

Allowance for doubtful accounts

(682)

(747)

187,891

179,887

Buildings and structures, net

37,207

38,143

Machinery, equipment and vehicles, net

10,244

11,864

Land

13,692

13,596

Construction in progress

3,018

3,575

Other property, plant and equipment, net

4,576

4,975

Total Property, Plant and Equipment

68,73972,155

Goodwill

901

768

Software

2,907

2,734

Other intangibles

1,092

1,795

Total Intangibles

4,901

5,298

Investment securities

8,359

9,000

Deferred tax assets

4,636

4,485

Other investments and other assets

2,917

2,932

(76)

(74)

15,836

16,344

89,477

93,798277,368

273,685

AssetsCurrent Assets:

Total Current Assets
Fixed Assets:
Property, Plant and Equipment:

Intangibles:

Investments and Other Non-Current Assets:

Allowance for doubtful accounts
Total Investments and Other Non-Current Assets
Total Fixed Assets
Total Assets

5

HORIBA, Ltd. (Consolidated)Amount: millions of yen
FY2018(As of December 31,
2018)

FY2019 first half
(As of June 30, 2019)

Trade notes and accounts payable

21,933

17,794

Short-term loans payable

12,044

9,053

Accounts payable - other

15,92014,070Accrued income taxes

3,514

2,930

Advances Received

17,475

21,387

Accrued bonuses to employees

1,265

662

-

279

Reserve for product warranty

2,012

1,888

Other current liabilities

3,830

4,143

Total Current Liabilities

77,997

72,211

Corporate bonds

15,00015,000Long-term loans payable

17,02816,872

184

142

1,946

1,908

640

502

Other non-current liabilities

2,552

5,039

Total Non-Current Liabilities

37,352

39,465

115,349

111,676

Common stock

12,011

12,011

Capital surplus

18,717

18,717Retained earnings

132,329

134,087(1,428)(1,405)

161,630

163,411

2,788

3,229

(2)

(0)

Foreign currency translation adjustments(2,829)(5,194)Remeasurements of defined benefit plans

(224)

(207)

Total Accumulated Other Comprehensive Income(267)(2,173)

Subscription Rights to Shares

549

651

Non-Controlling Interests

106

119

162,018

162,008

277,368

273,685

Liabilities
Current Liabilities:

Accrued bonuses to directors and corporate auditors

Non-Current Liabilities:

Deferred tax liabilities
Net defined benefit liability
Provision for loss on dissolution of the employees’
pension fundTotal Liabilities
Net Assets
Shareholders' Equity

Treasury stock
Total Shareholders' Equity
Accumulated Other Comprehensive Income
Net unrealized holding gains on securities
Deferred gains or losses on hedges

Total Net Assets
Total Liabilities and Net Assets

6

HORIBA, Ltd. (Consolidated)(2) Consolidated Statements of Income and Consolidated Comprehensive Income Statements(Consolidated Statements of Income)Amount: millions of yen
FY2019 first half(Six months ended
June 30, 2019)

FY2018 first half(Six months ended
June 30, 2018)
Net Sales

99,966

91,607

Cost of Sales

56,60453,077Gross Income

43,362

38,530

Selling, General and Administrative Expenses

29,30430,247

Operating Income

14,057

8,282Interest income

47

113

Dividend income

95

98

Non-Operating Income

Other

74

127

Total non-operating income

217

339

Interest expense

212

234

Foreign exchange losses

284

259

Other

46

87

Non-Operating Expense

Total non-operating expense

543

581

13,731

8,040

Gain on sales of fixed assets
Reversal of provision for loss on dissolution of the employee's
pension fund

525

111

Total extraordinary gain

525

Ordinary Income
Extraordinary Gain

-

137
248

Extraordinary Loss
Loss on sales of fixed assets

22

Loss on disposal of fixed assets

23

6

-

Total extraordinary loss

45

6

Income before Income Taxes

14,211

8,282

Income taxes (current)

4,051

2,640

Income taxes (deferred)

(353)

(144)

Total income taxes

3,698

2,496

10,513

5,786

Profit attributable to non-controlling interests

1015

Net Income Attributable to Owners of Parent

10,5035,770

Net Income

7

HORIBA, Ltd. (Consolidated)

(Consolidated Statements of Comprehensive Income)Amount: millions of yen
FY2019 first half(Six months ended
June 30, 2019)

FY2018 first half(Six months ended
June 30, 2018)
10,513

5,786

(803)

441

(0)

2

Foreign currency translation adjustments(3,288)(2,368)Remeasurements of defined benefit plans

4

16(4,087)(1,908)

6,425

3,877

6,421

3,865

3

12

Net Income
Other Comprehensive Income
Net unrealized holding gains or losses on securities
Deferred gains or losses on hedges

Total other comprehensive income
Comprehensive Income(Breakdown of comprehensive income)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

8

HORIBA, Ltd. (Consolidated)

(3) Consolidated Statements of Cash Flows
Amount: millions of yen
FY2018 first half(Six months ended
June 30, 2018)

FY2019 first half(Six months ended
June 30, 2019)

Cash Flows from Operating Activities:
Income before income taxes

14,211

8,282

Depreciation expense

3,513

4,169

Amortization of goodwill

41

101

Increase (decrease) in allowance for doubtful accounts

(80)

90

Increase (decrease) in net defined benefit liability

39

28Interest and dividend income

(142)

(211)

Interest expense

212

234

Foreign exchange losses (gains)

149

20

Loss (gain) on sales of fixed assets

(502)

(111)

Loss on disposal of fixed assets

23

6

Decrease (increase) in trade notes and accounts receivable

4,743

8,134

Decrease (increase) in inventories(9,294)(1,558)

Increase (decrease) in trade notes and accounts payable

3,111(3,728)Other, net

3,446

2,415

Subtotal

19,472

17,875143

220

Interest and dividends received
Interest paid

(201)

(243)

Income taxes (paid) refund(7,007)(4,003)

Net Cash Provided by (used in) Operating Activities

12,407

13,848

Increase in time deposits(1,004)(1,873)

Decrease in time deposits

1,106

2,662

Cash Flows from Investing Activities:

Decrease in time deposits restricted for use

32-(1,100)(1,400)

901

1,868

Payments for purchase of property, plant and equipment(5,290)(4,951)

Proceeds from sales of property, plant and equipment

1,408

245

Payments for purchase of intangibles

(307)

(302)

(8)

(8)

Payments for purchase of marketable securities
Proceeds from sales or redemption of marketable securities

Payments for purchase of investment securities
Proceeds from sales or redemption of investment securities
Payments of loans receivableCollection of loans receivable

-

0

(32)

(13)

17

16

(154)

(508)

(4,432)(4,267)(749)(1,617)-

251

Repayments of long-term debt

(275)

(1,425)

Repayments on finance lease obligations

(86)

(467)

Net decrease (increase) of treasury stock0(0)

Cash dividends paid

(3,201)(4,002)Net Cash Provided by (used in) Financing Activities(4,313)(7,262)Other, net
Net Cash Provided by (used in) Investing Activities
Cash Flows from Financing Activities:
Net increase (decrease) in short-term borrowings
Increase in long-term debt

Effect of Exchange Rate Changes on Cash and Cash Equivalents

(525)

(511)

Net Increase (Decrease) in Cash and Cash Equivalents

3,136

1,807

Cash and Cash Equivalents at Beginning of Period

58,33362,837

Cash and Cash Equivalents at End of Period

61,47064,644

9

HORIBA, Ltd. (Consolidated)

(4) Notes to Consolidated Financial Statements
Application of special accounting for preparing quarterly consolidated financial statement(Calculation method for tax expenses)
The Company and its domestic consolidated subsidiaries calculated Income tax expenses by multiplying quarterly income
before income taxes by reasonably estimated annual effective tax rate. This tax rate was reasonably estimated after applying
the deferred tax accounting to the annual income before income taxes.

Change in accounting policy(Application of IFRS 16, “Leases” and FASB Accounting Standards Update (ASU) 2016-02, “Leases”)
The Company applied IFRS 16, “Leases” and FASB Accounting Standards Update (ASU) 2016-02, “Leases” for foreignsubsidiaries from the first quarter of the current fiscal year ending December 31, 2019. The aforementioned standards
require a lessee to recognize assets and liabilities generally for all leases on the balance sheet. The impact of this change
to the consolidated balance sheet as at June 30, 2019, and the consolidated income statement and statement ofcomprehensive income for the six months ended June 30, 2019 is immaterial.
Additional information(Application of the “Partial Amendments to Accounting Standard for Tax Effect Accounting” (ASBJ Statement No.
28; February 16, 2018), etc.)
As the Company applied “Partial Amendments to Accounting Standard for Tax Effect Accounting” (ASBJ Statement No. 28;
February 16, 2018), etc., from the beginning of the first quarter of the current fiscal year, deferred tax assets are presented
under investments and other assets and deferred tax liabilities are presented under non-current liabilities.

10

HORIBA, Ltd. (Consolidated)3. Supplemental Information
HORIBA, Ltd. Financial Highlights for the Six Months Ended June 30, 2019
1. Consolidated Financial Results

Amount: millions of yen

12/2018
Result12/2019
Result

1st half

1st half

Net Sales

99,966

91,607

Operating Income

14,057

Operating Income Ratio

Ordinary Income

12/2018
Result12/2019
Forecast

Ratio

Full year

Full year

AmountRatio-8,359-8.4%

210,570

213,000+2,429

+1.2%

8,282

-5,774-41.1%

28,83825,000-3,838-13.3%

14.1%

9.0%

-5.1P

13.7%

11.7%

-2.0P

13,731

8,040-5,691

28,316

24,500-3,816

13.4%

11.5%

-1.9P

22,313

17,500-4,813

ChangesAmount-41.4%

Changes-13.5%

Ordinary Income Ratio

13.7%

8.8%

-4.9P

Net Income Attributableto Owners of Parent

10,5035,770-4,732Net Income Ratio

10.5%

6.3%

-4.2P

10.6%

8.2%

-2.4P

US$

108.67110.06+1.39

110.44110.00

-0.44

Euro

131.55124.32-7.23

130.35125.00-5.35

Changes

12/2018
Result12/2019
Forecast

Full year

Full year

AmountRatio-45.1%

2. Consolidated Segment Results-21.6%

Amount: millions of yen

12/2018
Result12/2019
Result

1st half

1st half

Automotive

32,70534,381+1,676+5.1%

79,65685,000+5,343+6.7%

Process&Environmental

9,248

9,161

-86

-0.9%

19,361

20,000

+638

+3.3%

Medical13,134

12,667

-467

-3.6%

26,01228,000+1,987+7.6%

Semiconductor

32,34322,705-9,637-29.8%

57,78550,000-7,785-13.5%

Scientific12,535

12,691

+156

+1.2%

27,75430,000+2,245

+8.1%

Total

99,966

91,607-8,359-8.4%

210,570 213,000+2,429+1.2%

12/2018
Result12/2019
Result

1st half

1st half

Net Sales

Operating Income

AmountRatio

ChangesAmountRatio

Changes

12/2018
Result12/2019
Forecast

Full year

Full year

AmountChanges
Ratio

Automotive

2,489

1,599

-890

-35.7%

7,702

8,000

+297

+3.9%

Process&Environmental

868

663

-205

-23.6%

2,027

2,000

-27

-1.4%

Medical

1,004

709

-294

-29.3%

1,823

2,000

+176

+9.7%

Semiconductor

10,2405,399-4,840-47.3%

17,063

12,000-5,063-29.7%

Scientific

(545)

(90)

+455

-

221

1,000

+778

+352.3%

Total

14,057

8,282-5,774-41.1%

28,83825,000-3,838-13.3%

11

HORIBA, Ltd. (Consolidated)3. Consolidated Segment Sales by Destination
12/2018
Result12/2019
Result

1st half

1st half

32,705Japan

Amount: millions of yen
Changes
Ratio

12/2019
Forecast

Full year

Full year

34,381+1,676+5.1%

79,656

11,876

10,528-1,347-11.3%

Asia

7,514

9,096

+1,581

Americas

4,267

4,372

Automotive

Amount12/2018
ResultChangesAmountRatio

85,000+5,343+6.7%

23,07521,000-2,075-9.0%+21.1%

21,67225,500+3,827+17.7%

+105

+2.5%

11,191

10,500

-691

-6.2%

Europe

9,047

10,383+1,336+14.8%

23,71628,000+4,283+18.1%

Process&Environmental

9,248

9,161

-86

-0.9%

19,361

20,000

+638

+3.3%

Japan

4,737

4,900

+163

+3.4%

9,538

10,000

+461

+4.8%

Asia

2,103

1,874

-228

-10.9%

4,616

4,500

-116

-2.5%

Americas

1,287

1,152

-135

-10.5%

2,677

3,000

+322

+12.0%

Europe

1,119

1,234

+114

+10.2%

2,528

2,500

-28

-1.1%

13,134

12,667

-467

-3.6%

26,01228,000+1,987

+7.6%

Japan

3,150

3,107

-42

-1.4%

5,889

7,000

+1,110+18.9%

Asia

2,724

2,726

+2

+0.1%

5,607

6,000

+392

+7.0%

Americas

2,688

2,642

-46

-1.7%

5,341

5,500

+158

+3.0%

Europe

4,571

4,190

-381

-8.3%

9,174

9,500

+325

+3.5%

32,34322,705-9,637-29.8%

57,78550,000-7,785-13.5%

Japan

10,531

8,067-2,463-23.4%

20,20818,000-2,208-10.9%

Asia

16,027

9,935-6,092-38.0%

26,78822,000-4,788-17.9%

Americas

3,918

2,995

-923

-23.6%

6,956

6,500

-456

-6.6%

Europe

1,865

1,706

-158

-8.5%

3,833

3,500

-333

-8.7%

12,535

12,691

+156

+1.2%

27,75430,000+2,245

+8.1%

Japan

3,545

3,536

-8

-0.3%

7,275

8,000

+724

+10.0%

Medical

Semiconductor

Scientific
Asia

2,901

3,007

+106

+3.7%

7,609

8,000

+390

+5.1%

Americas

3,326

3,525

+199

+6.0%

7,117

8,000

+882

+12.4%

Europe

2,761

2,621

-140

-5.1%

5,753

6,000

+246

+4.3%

99,966

91,607-8,359-8.4%

210,570

213,000+2,429

+1.2%

Japan

33,84130,141-3,699-10.9%

65,98664,000-1,986-3.0%-14.8%

-0.4%

Total
Asia

31,27026,641-4,62966,29366,000-293

Americas15,488

14,688

-800

-5.2%

33,28333,500

+216

+0.6%

Europe19,366

20,136

+770

+4.0%

45,00649,500+4,493+10.0%

12

HORIBA, Ltd. (Consolidated)5. Consolidated Financial Results (Quarterly Comparison)
1Q

Net Sales
Operating Income
Operating Income Ratio

Ordinary Income
Ordinary Income Ratio

Net Income Attributableto Owners of Parent

52,696
9,199

12/2018 Result
2Q
3Q

47,2704,857

46,063
3,819

Amount: millions of yen
4Q

1Q Result

12/2019
2Q Result

64,53910,96145,3204,434

46,287
3,848

2H Forecast

121,392
16,717

17.5%

10.3%

8.3%

17.0%

9.8%

8.3%

13.8%

8,968

4,763

3,786

10,798

4,303

3,737

16,459

17.0%

10.1%

8.2%

16.7%

9.5%

8.1%

13.6%

6,114

4,388

2,970

8,840

2,561

3,209

11,729Net Income Ratio

11.6%

9.3%

6.4%

13.7%

5.7%

6.9%

9.7%

US$
Euro

108.22133.14109.12129.96111.46129.51112.96
128.79110.22125.16109.90123.48109.94125.68

6. Consolidated Segment Results (Quarterly Comparison)
Net Sales

Automotive
Process&Environmental

Medical
Semiconductor
Scientific
Total
Operating Income

Automotive
Process&Environmental

Medical
Semiconductor
Scientific
Total

1Q

18,097
4,941
6,637
16,4686,551
52,696

12/2018 Result
2Q
3Q

14,607
4,306
6,497
15,875
5,983
47,27015,6404,250
6,106
13,0587,008
46,063

1Q

12/2018 Result
2Q
3Q

2,610
681
552
5,453
(97)
9,199

(120)
187
452
4,786
(448)
4,857

(745)
314
308
3,812
131
3,819

Amount: millions of yen
12/2019
2Q Result 2H Forecast

4Q

1Q Result

31,3105,861
6,771
12,384
8,210
64,53916,242
4,791
6,307
11,5486,429
45,32018,138
4,369
6,359
11,157
6,261
46,28750,618
10,83815,332
27,29417,308
121,392

4Q

1Q Result

12/2019
2Q Result

2H Forecast

905
470
208
2,752
98
4,434

694
193
501
2,647
(188)
3,848

6,400
1,336
1,290
6,600
1,090
16,717

5,958
844
511
3,011
635
10,961

Contact
Investor Relations, Corporate Control Dept, General Administration Division, HORIBA, Ltd.
2, Miyanohigashi-cho, Kisshoin, Minami-ku, Kyoto 601-8510, Japan
E-mail: ir-info@horiba.com

13

HORIBA, Ltd. (Consolidated)