Ryobi Limited

Financial Summary for the Three Months
Ended March 31, 2024
May 13, 2024

1. Results for the Three Months
Ended March 31, 2024

1. Results for the Three Months Ended March 31, 2024

Highlights of Financial Results➢ Consolidated results: Sales and profits increased compared to the previous
corresponding period
Die Castings• Sales increased both in Japan and overseas. Although some automotive manufacturers
suspended production and shipments, sales increased thanks to recovering domestic andoverseas automotive production and higher yen-based sales of overseas subsidiaries due tothe weak yen.
• Growth in sales boosted profits, despite increasing labor costs and other factors.
Builders’ Hardware• Overseas sales increased but domestic sales decreased.
• Profits decreased due to rising procurement costs of overseas production, despite efforts toimprove productivity and reduce costs.
Printing Equipment• Domestic sales increased but overseas sales decreased. Increased capital investment bygovernment subsidies in Japan continued to boost sales.
• Growth in sales boosted profits, despite the impact of rising raw material prices.

➢ FY2024 forecasts• Sales are expected to increase due mainly to the recovery in automotive production.
Sales to set another record high, exceeding 300 billion yen for the first time.
• Despite the impact of increasing labor costs and remaining high energy and raw material
prices, higher sales will bring growth in operating income. Ordinary income and net income
figures to decline due to not expecting foreign exchange gains.
(No changes from the last announcement on February 13th.)
3/12

1. Results for the Three Months Ended March 31, 2024

Results Summary
Under the uncertain situation for various reasons, including the conflict in Ukraine,
remaining high energy and raw material prices, and fluctuation of price and exchange rate
attributable to tight monetary policies worldwide, both sales and profits increased fromthe previous corresponding period thanks to recovering in domestic and overseas
automotive production.
(Unit: Billions of Yen)FY2023 1Q

FY2024 1Q

Results

Results

ChangeNet sales

61.6

69.9

8.3(13.5%)

Operating income

1.9

2.7

0.8(40.4%)

Ordinary income

2.1

3.2

1.1(51.8%)

Net income
attributable toowners of parent1.3

2.10.9(66.3%)
4/12

1. Results for the Three Months Ended March 31, 2024

Analysis of Changes in Net Sales
Sales increased by 8.3 billion yen due to an increase in die casting production volume
and the impact of the weak yen.
(Unit: Billions of Yen)70

Increase inproduction,etc.

Currency
effects+5.8+3.4

Rawmaterial(aluminum)
price

−1.0

69.9

61.6
0

FY2023 1Q

FY2024 1Q

Exchange rates (average for the period)

USD

GBP

CNY

THB

FY2023 1Q¥132.44¥160.33¥19.26¥3.88

FY2024 1Q¥146.87¥185.94¥20.44

¥4.16

5/12

1. Results for the Three Months Ended March 31, 2024

Results by Business Segment
Die Castings:

Higher sales and higher profits due to the recovery in automotive production,although some automotive manufacturers suspended production and shipments.
Builders’ Hardware: Overseas sales increased but domestic sales decreased. Profits declined due tohigher procurement costs for overseas production and other factors.
Printing Equipment: Domestic sales increased but overseas sales decreased. Growth in sales boostedprofits.
(Unit: Billions of Yen)FY2023 1QResults

FY2024 1Q
Results

Net sales

61.6

69.9

Die castings

53.5

61.4

2.6

2.5

5.5

6.0

Operating income

1.92.7Die castings

1.6

2.4

0.0

−0.0

0.3

0.4

Builders’
hardwarePrinting
equipment

Builders’
hardwarePrinting
equipment

Change8.3(13.5%)
7.8(14.6%)−0.0(−1.3%)
0.5(9.9%)
0.8(40.4%)
0.8(48.1%)−0.1(−)
0.1(33.3%)

6/12

1. Results for the Three Months Ended March 31, 2024

Consolidated Balance Sheet
Total assets increased by 6.1 billion yen compared to the previous year, of which 8.1 billion yen was
due to the impact of foreign exchange fluctuations.
In assets, investment securities increased by 4.5 billion yen under the influence of high stock prices.
In net assets, foreign currency translation adjustment increased by 4.6 billion yen because of theweak yen.
(Unit: Billions of Yen)FY2023 FY2024 1Q Change

CurrencyTranslation
Effect

156.6

155.4

−1.2

3.3

27.6

27.2

−0.4

0.4

64.3

61.9

−2.4

1.5

0.7
59.9

0.7
61.5

0.0
1.6

−1.4

Non-current assets
Property, plantand equipment4.1
162.2
123.4

4.1
169.6
125.7

−0.0
7.4
2.3

0.1
4.9
3.7

Intangible assets

2.6

2.6

−0.0

0.1

36.1
–
318.8

41.3
–
325.0

5.2
–
6.1

1.1
–
8.1

Accumulated othercomprehensive
incomeNon-controllinginterests
Total net assets
Total liabilities andnet assets

USD¥141.83¥151.41

GBP¥180.68¥191.22

Current assets
Cash and deposits
Notes andaccounts
receivable – trade
Securities

Inventories
Other

Investments andother assets
Deferred assets
Total assets

Exchange rates (as of end of period)
FY2023
FY2024 1Q

Current liabilities
Notes andaccounts payable– tradeShort-termborrowings
Other
Non-current
liabilities
Long-term
borrowings
Other
Shareholders’ equity

FY2023 FY2024 1Q Change

Currency
Translation
Effect

117.9

115.8

−2.1

2.2

50.9

49.4

−1.5

0.6

46.2

46.0

−0.2

1.2

20.8
40.2

20.4
40.1

−0.4
−0.1

0.3
0.5

24.0
16.2
124.7

22.4
17.7
125.4

−1.6
1.5
0.7

0.4
0.1
0.3

26.6

34.1

7.5

5.2

9.4
160.7
318.8

9.6
169.1
325.0

0.1
8.4
6.1

−5.5
8.1

CNY¥19.93¥20.83

THB¥4.13
¥4.16

7/12

1. Results for the Three Months Ended March 31, 2024

Change in Cash Flows
Operating CF exceeded Investing CF, resulting in positive free CF.
The balance at the end of the quarter slightly decreased due to the repayment ofborrowings and dividend paid.
Free CF +4.2
Operating CF +7.7
Investing CF−3.5(Unit: Billions of Yen)

Financing CF−5.0

OthersDividends,etc.

−0.2
Depreciation
Net
incomebeforeincometax

26.4

FY2023
Balance+3.2+4.7

Capital Others
investment

−3.4

−0.1

−1.6Borrowing,etc.

−3.4

Exchange
conversion

+0.4

26.0

FY2024 1Q
Balance8/12

2. Forecasts for the Fiscal YearEnding December 31, 2024

2. Forecasts for the Fiscal Year Ending December 31, 2024

Forecasts••

Sales are expected to increase due mainly to the recovery in automotive production.
Sales to set the highest record.
Operating income is expected to increase due to higher sales. Ordinary income andnet income figures are expected to decrease due to not expecting foreign exchange
gains and other factors.
(No changes from the last announcement on February 13th.)(Unit: Billions of Yen)FY2023Results

FY2024
Forecasts

ChangeNet sales

282.7

305.0

22.3
(7.9%)

Operatingincome

12.2

13.00.8(6.4%)

Ordinary
income

13.9

12.8

−1.1
(−7.7%)Net income
attributable toowners of parent

10.1

9.0

−1.1
(−11.0%)10/12

2. Forecasts for the Fiscal Year Ending December 31, 2024

Forecasts by Business Segment
Die Castings:

Higher sales and profits are expected, because of a record high production
volume from the recovery in automotive production.
Builders’ Hardware: Higher sales both in Japan and overseas. Profits are expected to increase dueto the higher sales.
Printing Equipment: Higher sales both in Japan and overseas. Profits are expected to decrease
due to the impact of rising raw material prices and exhibition expenses.
(Unit: Billions of Yen)FY2023Results

FY2024
Forecasts

Net sales

282.7

305.0

Die castings

247.6

267.7

10.8

11.0

24.1

26.3

Operating income

12.2

13.0

Die castings

10.9

12.2

0.2

0.3

1.1

0.5

Builders’
hardwarePrinting
equipment

Builders’
hardwarePrinting
equipment

Change22.3(7.9%)
20.1(8.1%)
0.2(1.6%)
2.2(9.2%)
0.8(6.4%)
1.3(11.8%)
0.1(74.3%)−0.6(−56.0%)
11/12

About forward-looking statements
This document contains forward-looking statements regarding matters such as Ryobi’s businessplans, strategies, and operating results.
Such forward-looking statements reflect Ryobi’s judgements based on information available at thetime of preparation. They involve inherent risks and uncertainties.
Ryobi’s actual activities and operating results may differ from these forward-looking statements
due to economic conditions, the business environment, trends in market demand, trends inexchange rates, and other factors.

Unauthorized copying and replication are prohibited.
12/12