Consolidated Financial Results
for the Fiscal Year Ended December 31, 2020
(Japanese GAAP)

February 12, 2021

Company Name: RYOBI LIMITED
Stock Code: 5851
(URL: https://www.ryobi-group.co.jp/)
Stock Exchange Listing: Tokyo
Representative: Akira Urakami, President and CEO
Contact: Hiromu Arihiro, Corporate Officer
Contact: Divisional Deputy General Manager of Corporate Planning Division
Contact: General Manager Finance Department
Phone: +81-3-3501-0511
Scheduled date of Ordinary General Meeting of Shareholders : March 26, 2021
Scheduled date to submit the Annual Securities Report : March 26, 2021
Date of scheduled payment of dividend : －Availability of supplementary briefing material on yearly results : Yes
Presentation Meeting : Yes (for securities analysts / institutional investors)(Any amount less than one million is disregarded.)

1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2020
(From January 1, 2020 to December 31, 2020)(1) Consolidated Results of Operations(% indicates changes from the previous fiscal year.)Net sales

Operating profit

Millions of yen% Millions of yen

Ordinary profit% Millions of yen

Profit attributable toowners of parent% Millions of yen%

FY December 2020

170,973-22.5-1,789－-35－-697－

FY December 2019

220,519－

8,495－

8,734－

4,913－(Note) Comprehensive income: FY December 31, 2020: -2,451 million yen [－%]
(Note) Comprehensive income: FY December 31, 2019: 5,700 million yen [－%]
Fully diluted profit
per share
Yen
YenProfit per share

Ordinary profit
to total assets ratio%%

Return on equity

Operating profit
to net sales ratio%

FY December 2020

-21.54

–-0.6

-0.0

-1.0

FY December 2019

151.79–4.13.3

3.9(Note) Equity in earnings of affiliated companies FY December 31, 2020 : 71 million yen(Note) Equity in earnings of affiliated companies FY December 31, 2019 : 103 million yen* The Company changed its fiscal year-end from March 31 to December 31 as of the fiscal year ended December 31, 2018. The
increase-decrease rates from the previous fiscal year were not presented because the period covered by the fiscal year ended December31, 2019 (from January 1, 2019 to December 31, 2019) and the period covered by the fiscal year ended December 31, 2018 (Domestic:from April 1,2018 to December 31, 2018, Overseas: from January 1, 2018 to December 31, 2018), which would be used for comparison,are different.

(2) Consolidated Financial Position
Total assets

Net assets

Millions of yen

Millions of yen%

Shareholders’equity per shareYen

As of December 31, 2020

258,660

125,93045.3

3,619.16

As of December 31, 2019

263,179

129,57545.8

3,723.34(Reference) Shareholders' Equity: As of December 31, 2020 : 117,147 million yen(Reference) Shareholders' Equity: As of December 31, 2019 : 120,520 million yen-1-Shareholders'equity ratio

(3) Consolidated Cash Flows
Cash and cash
equivalents
at end of period

Net cash provided by(used in) operating
activities

Net cash provided by(used in) investing
activities

Net cash provided by(used in) financing
activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

FY December 2020

11,795-17,567

9,718

25,405FY December 2019

30,326-26,278-2,26821,356

2.

Dividends
Cash dividends per share
End of 1Q End of 2Q End of 3Q Year-endYen
Yen
Yen
Yen

Total dividends
paid(annual)
AnnualYen Millions of yen

FY December 2019

–

35.00

–

35.00

70.00

FY December 2020

–

0.00

–

0.00

0.00

FY December 2021
(Forecast)

–

10.00

–

25.00

35.00

Payout ratio
Dividends to net(consolidated) assets (consolidated)
%
%

2,265

46.1-

-

1.9-

26.3

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2021
(From January 1, 2021 to December 31, 2021)
Net sales

Operating profit

Ordinary profit%%

Profit attributableto owners of parent

Profit per share%YenMillions of yen%

Millions of yen

First Half

93,50020.3

500–

500–300–

9.27

Full year

198,000

15.8

5,500

–

5,500

–

4,300–

132.84

Millions of yen

Millions of yen＊Notes(1) Significant changes of companies during the fiscal year ended December 31, 2020 (changes in specific companies involving
changes in the scope of consolidation): Not applicable
New Company: －Excluded companies: －(2) Changes in accounting policies, changes in accounting estimates and restatements
1) Changes in accounting policies due to the revision of accounting standards: Not applicable
2) Changes in accounting policies other than 1): Not applicable
3) Changes in accounting estimates: Not applicable4) Restatements: Not applicable(3) Shares issued (common stock)
1) Shares issued(including treasury stock)

As of December 31, 2020

32,646,143

As of December 31, 2019

32,646,143

2) Treasury stock

As of December 31, 2020

277,298

As of December 31, 2019277,173

3) Average shares
outstanding during theperiod

FY December 31, 2020

32,368,933

FY December 31, 2019

32,369,014-2-

(Reference) Summary of the Non-consolidated Financial Results
Overview of the Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2020
(From January 1, 2020 to December 31, 2020)(1) Non-consolidated Results of Operations
Net sales

Operating profit

Millions of yen% Millions of yen

FY December 2020

76,836-22.1

FY December 2019

98,582－Profit per share
Yen

Ordinary profit% Millions of yen

Profit% Millions of yen-4,522－851-78.7

67－

3,994－%

741 -81.4
3,975－

Fully diluted profit
per shareYen

FY December 2020

22.91

–FY December 2019122.83–* With regard to the fiscal year ended December 31, 2018, which fall under the transitional period, the fiscal year of the Company was
the nine-month period from April 1, 2018 to December 31, 2018. For this reason, the report does not indicate year-on-year percentagechanges.

(2) Non-consolidated Financial Position
Shareholders' equity ratio

Shareholders' equity
per share

Total assets

Net assets

Millions of yen

Millions of yen%

Yen

As of December 31, 2020

163,394

74,35645.5

2,297.15

As of December 31, 2019

160,338

75,26146.9

2,325.11(Reference) Shareholders' Equity As of December 31, 2020: 74,356 million yen(Reference) Shareholders' Equity As of December 31, 2019: 75,261 million yen* These consolidated quarterly financial results are outside the scope of audit.
* Explanation for the appropriate use of performance forecasts and other special notes:(Cautionary note on forward-looking statement)
The statements regarding forecast of financial results in this report are based on the information that is available, as well as estimates,
assumptions and projections that are believed to be reasonable at the time of publication, and they are not meant to be a commitment bythe Company. Therefore, there might be cases in which actual results differ from forecast values.

-3-Comparative Balance Sheets (Consolidated)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
OtherTotal intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance costs
Total deferred assets
Total assets-4-(Millions of yen)
December 31, 2019

December 31, 2020

22,51841,197768
17,006
13,853
14,294
2,951(47)
112,543

26,56640,157759
15,353
12,32013,7143,379(32)
112,218

33,375
52,112
17,85012,692
5,576
121,60732,74150,334
15,964
14,323
5,595
118,959

3,716
3,716

3,482
3,482

18,217
3,736
1,781
1,608(62)25,280150,604

14,3964,478
2,967
2,212(63)23,991
146,43231
31
263,1798
8258,660

Comparative Balance Sheets (Consolidated)

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of bonds payable
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilitiesBonds payable
Long-term borrowings
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-5-(Millions of yen)
December 31, 2019

December 31, 2020

35,67323,427
2,300
6,788
804
576

29,11525,595
4,600
7,110
476
390

12
20,39089,972－
16,601
83,8906,100
23,292
2,790
510
8,032
2,906
43,631
133,604

1,500
33,670
2,085
510
8,055
3,017
48,839132,730

18,472
21,854
78,139(346)
118,120

18,472
21,861
76,309(346)
116,295

5,443
809(2,626)(1,226)2,400
9,054
129,575
263,179

4,733
810(3,814)
(877)
852
8,782
125,930258,660

Comparative Statements of Income (Consolidated)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Rental income
Dividend income of insurance
Share of profit of entities accounted for using equity
methodUsage income of trademark
Subsidy income
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Loss on abandonment of inventories
Foreign exchange losses
Depreciation
OtherTotal non-operating expenses
Ordinary profit (loss)
Extraordinary income
Gain on disposal of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Impairment loss
Loss on valuation of investment securities
Loss on sales of investment securities
Loss on sales of shares of subsidiaries and associates
Total extraordinary losses
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to non-controlling interests
Profit (loss) attributable to owners of parent-6-(Millions of yen)

Fiscal year ended
December 31, 2019

Fiscal year ended
December 31, 2020

220,519
190,305
30,214
21,7198,495

170,973
153,882
17,09018,879(1,789)

93
410
302
133

104
339
198
128

103
243
－
446
1,732

71
247
1,451
624
3,166

1,036
43
195
42
176
1,493
8,734

967
68
225
29
121
1,412
(35)

57
44
101

23－
23

163
639
15－
－
818
8,017
1,070
1,746
2,817
5,200
287
4,913

97
1,228
85
0
78
1,490
(1,501)
1,080(1,758)
(678)
(823)
(126)
(697)

Comparative Statements of Comprehensive Income (Consolidated)(Millions of yen)

Profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests-7-

Fiscal year ended
December 31, 2019

Fiscal year endedDecember 31, 2020

5,200(823)337(0)(1,009)1,258(763)0(1,238)350(86)500
5,700

23(1,627)(2,451)

5,386(2,245)314(205)

Comparative Statements of Cash Flows (Consolidated)

Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Impairment loss
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Subsidy income
Share of loss(profit) of entities accounted for using equity
methodLoss (gain) on disposal of non-current assets
Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
Loss (gain) on sales of shares of subsidiaries andassociates
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in trade payables
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Proceeds from subsidy income
Income taxes (paid) refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of securities
Proceeds from sales of securities
Purchase of investment securities
Proceeds from sales of investment securities
Proceeds from sales of shares of subsidiaries andassociates
Payments for acquisition of businesses
Payments into time deposits
Proceeds from withdrawal of time deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Redemption of bonds
Purchase of treasury shares
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change 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-8-(Millions of yen)

Fiscal year ended
December 31, 2019

Fiscal year ended
December 31, 2020

8,017
15,370
639
(214)
(186)
(221)
(503)
1,036
－

(1,501)
16,402
1,228(14)(185)
131(443)
967(1,451)(103)
106(44)15(71)
75
085－
16,2101,661
514(9,477)(803)(375)
31,641539(1,018)－(835)
30,326

78
819
3,382
(524)
(6,477)72(213)12,360
463
(958)
1,267
(1,338)
11,795(24,586)
214(1,340)
1,340
(44)
73

(20,291)
1,148(1,330)
1,340
(32)
15

－
(1,192)(2,404)
2,404(742)(26,278)

2,630－(2,404)2,404(1,049)(17,567)(1,211)
8,819(7,424)－(0)(2,265)(184)(2,268)(54)
1,724
19,632
21,3562,315
18,670(7,606)(2,300)(0)(1,135)
(225)
9,718
103
4,048
21,35625,405

Segment Information
Industry Segment Information(The Fiscal Year ended December 31, 2019)

Eliminations/ Corporate(Millions of yen)

Die
Castings

Builders’
HardwarePrinting
Equipment

185,938

10,712

23,661

207－

220,519

122

－

－

55

(177)

－

186,060

10,712

23,661

263(177)

220,519

7,659

697

144

(5)

(0)

8,495

Total Assets

202,898

10,29223,017

1,627

25,344

263,179

Depreciation

14,871

175

307

16－

15,370Capital Expenditure

24,322

363

137

14－

24,839Other

Consolidated

Net Sales:
Unaffiliated customers
Intersegment
Total
Operating profit (loss)
Assets, Depreciation andCapital Expenditure(The Fiscal Year ended December 31, 2020)(Millions of yen)

Die
Castings

Builders’
HardwarePrinting
Equipment

Eliminations/ Corporate

Consolidated

145,869

9,406

15,513

183－

170,973

53

－

－

33

(87)

－

145,922

9,406

15,513217(87)

170,973(1,612)

799

(944)

(31)

0(1,789)

Total Assets

202,516

9,931

19,996303

25,911

258,660

Depreciation

15,919

187

280

15－

16,402

Capital Expenditure

16,687

470

217

17－

17,392Other

Net Sales:
Unaffiliated customers
Intersegment
Total
Operating profit (loss)
Assets, Depreciation andCapital Expenditure* All amounts have been rounded down to the nearest million yen.

-9-