Consolidated Financial Results
for the Six Months Ended June 30, 2020
(Japanese GAAP)
August 6, 2020
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: Hiromu Arihiro, Divisional General Manager of Corporate Planning Division
Contact: Hiromu Arihiro, General Manager Finance Department
Phone: +81-3-3501-0511
Scheduled date to submit the Quarterly Securities Report: August 6, 2020
Availability of supplementary briefing material on quarterly results : Yes
Presentation Meeting : Not Scheduled(Any amount less than one million is disregarded.)

1. Consolidated Financial Results for the Six Months Ended June 30, 2020
(From January 1, 2020 to June 30, 2020)(1) Consolidated Results of Operations(% indicates changes from the previous fiscal year.)Net sales
Millions of yen
Six months ended
June 30, 2020

77,700Operating profit% Millions of yen-30.7-3,551

Ordinary profit% Millions of yen－-2,775

Six months ended
112,099
4,805
4,813－－
June 30, 2019
(Note) Comprehensive income: Six months ended June 30, 2020: -4,703 million yen [－%]
(Note) Comprehensive income: Six months ended June 30, 2019: 2,440 million yen [－%]% Millions of yen%－-1,668－－

3,683

－

Fully diluted profit
per share

Profit per share
Yen
Six months ended
June 30, 2020

Profit attributable toowners of parent-51.55Yen－

Six months ended
113.79－June 30, 2019
* The Company changed its fiscal year-end from March 31 to December 31 as of the fiscal year ended December 31, 2018. The increasedecrease rates from the previous fiscal year were not presented because the period covered by six months ended June 30, 2019 (fromJanuary 1, 2019 to June 30, 2019) and the period covered by the six months ended June 30, 2018 (Domestic: from April 1,2018 toJune 30, 2018, Overseas: from January 1, 2018 to June 30, 2018), which would be used for comparison, are different.

(2) Consolidated Financial Position

As of June 30, 2020
As of December 31, 2019

Shareholders'equity ratio

Total assets

Net assets

Millions of yen
253,684

Millions of yen
123,678%45.3

263,179

129,57545.8(Reference) Shareholders' Equity: As of June 30, 2020: 114,851 million yen(Reference) Shareholders' Equity: As of December 31, 2019: 120,520 million yen-1-2. Dividends
Cash dividends per share
End of 1Q
Yen－

FY December 2019

End of 2Q
Yen
35.00

End of 3Q
Yen－Year-end
Yen
35.00

Annual
Yen
70.00

－0.00
FY December 2020
FY December 2020－－－
(Forecast)(Reference) Correction from the dividend forecast, which is published in the most recent: No* With regard to the forecast of the Year-end cash dividends for FY December 2020, we remain undecided.

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2020
(From January 1, 2020 to December 31, 2020)

Net sales

Full year

Operating profit

Millions of yen%

Millions of yen－－－

Ordinary profit%－%

Millions of yen－

Profit attributableto owners of parent

Profit per share%

Yen

Millions of yen－－－－(Reference) Correction from the consolidated forecast, which is published in the most recent: No* With respect to the consolidated full year forecast, we are currently unable to calculate reasonably the influence of the new coronavirus
pandemic. Therefore, the announcement of the forecast remains undetermined.
＊Notes(1) Significant changes of companies during the fiscal year ended June 30, 2020 (changes in specific companies involving changes inthe scope of consolidation): Not applicable(2) Adoption of specific accounting treatments to the preparation of consolidated quarterly financial statements: Not applicable(3) 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(4) Shares issued (common stock)
1) Shares issued
As of June 30, 2020
(including treasury stock)

32,646,143

As of December 31, 2019

32,646,143

2) Treasury stock

As of June 30, 2020

277,173

As of December 31, 2019277,173

3) Average shares
outstanding during theperiod

Six months ended June30, 2020

32,368,970

Six months ended June30, 2019

32,369,042* These consolidated quarterly financial results are outside the scope of the quarterly review.
* 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 by
the Company. Therefore, there might be cases in which actual results differ from forecast values.

-2-Comparative Balance Sheets (Consolidated)(Millions of yen)
December 31, 2019

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
Other
Total intangible assets
Investments and other assets
Investment securities
OtherAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance cost
Total deferred assets
Total assets-3-June 30, 2020

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

24,362
33,715766
17,266
12,83914,2473,171(40)
106,328

33,375
52,112
17,85012,692
5,576
121,60732,451
51,22817,826
14,5705,447
121,524

3,716
3,716

3,708
3,708

18,2177,125(62)25,280150,604

13,258
8,907(63)
22,103
147,33531
31263,179

19
19253,684

Comparative Balance Sheets (Consolidated)(Millions of yen)
December 31, 2019Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of bonds
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
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-4-June 30, 2020

35,67323,427
2,300
6,788
804
576
12
20,39089,972

23,11728,615
5,100
3,706
339
596
－
15,85577,3306,100
23,292
8,032
6,206
43,631
133,604

3,300
36,631
7,841
4,902
52,675130,006

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

18,472
21,85975,337(346)
115,323

5,443
809(2,626)(1,226)2,400
9,054
129,575
263,1793,997
810(4,281)
(997)
(471)
8,826
123,678
253,684

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

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Rental income
Share of profit of entities accounted for using equity method
Usage income of trademark
Subsidy income
OtherTotal non-operating income
Non-operating expensesInterest expenses
Foreign exchange losses
Depreciation
Other
Total 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
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
Profit (loss)
Profit (loss) attributable to non-controlling interestsProfit (loss) attributable to owners of parent-5-

Six months ended
June 30, 2019

Six months ended
June 30, 2020

112,099
96,48015,618
10,813
4,805

77,70071,877
5,822
9,374(3,551)

50
204
165
83
133
－
195
832

55
189
112
35
108
742
227
1,470

538
175
22
87
823
4,813

500
53
18
121
694
(2,775)

53
28
82

1－
156
－－－
56
4,839
1,011
3,827
144
3,683

15
76
078
170
(2,943)(1,186)(1,757)(88)(1,668)

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 forusing equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests-6-

Six months ended
June 30, 2019

Six months ended
June 30, 2020

3,827

(1,757)115
2(1,634)
212(1,493)0(1,598)
229

(83)

(84)

(1,387)2,440(2,946)(4,703)

2,273
166(4,540)(162)

Comparative Statements of Cash Flows (Consolidated)(Millions of yen)

Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
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
Share of loss (profit) of entities accounted for using equity
methodLoss (gain) on sales of investment securities
Loss (gain) on sales of shares of subsidiaries and associates
Loss (gain) on disposal of non-current assets
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
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 and associates
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
Purchase of treasury sharesDividends 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-7-

Six months ended
June 30, 2019

Six months ended
June 30, 2020

4,839
7,399
(2)
(23)
(238)
(254)
538

(2,943)
8,225
(6)
20
23(244)
500

(83)

(35)

(28)
－2
12,580(963)
148(8,012)
1,448
(218)
17,131278(547)(470)
16,392

078
13
6,995
253
(685)
(12,332)(1,444)(169)(1,751)
289
(479)
(354)
(2,295)(10,869)
150
(680)
680
(6)
45
－
(1,221)(1,214)1,214(226)(12,127)(12,583)
32
(680)
680
(16)
0
2,630
－
(1,214)
1,214(887)(10,825)

1,719
2,447
(3,730)(0)(1,132)
(94)
(789)
(148)
3,326
19,632
22,958

5,711
15,406(4,645)－(1,132)(143)
15,197(234)
1,841
21,35623,198

Segment Information
Industry Segment Information(Six months ended June 30, 2019)(Millions of yen)
Eliminations /Consolidated
Corporate

Die
Castings

Builders’
HardwarePrinting
Equipment

95,264

5,087

11,653

93－

112,099

66－－

31(98)－

Total

95,3305,087

11,653125(98)

112,099

Operating income

4,421

245

139

(1)

04,805Other

Net Sales:
Unaffiliated customers
Intersegment(Six months ended June 30, 2020)(Millions of yen)
Eliminations /Consolidated
Corporate

Die
Castings

Builders’
HardwarePrinting
Equipment

64,648

4,672

8,302

76

－

77,70036－－27(63)－

Total

64,684

4,672

8,302

104

(63)

77,700Operating income(3,509)372(402)(12)

0(3,551)

Other

Net Sales:
Unaffiliated customers
Intersegment* All amounts have been rounded down to the nearest million yen.

-8-