Summary of Consolidated Financial Statements for the Six Months Ended June 30, 2020
(Japanese GAAP)
August 11, 2020
Listed stock exchanges: Tokyo
URL: https://www.horiba.com
TEL: (81)75-313-8121

Company name HORIBA, Ltd.
Listing code
6856
Representative Atsushi Horiba, Chairman & Group CEO
Contact
Junichi Tajika, Department Manager, Accounting Dept.
Scheduled date of start of interim dividend payment: September 1, 2020

(Figures have been rounded down to the nearest million yen)

1. Consolidated Results for the Six Months Ended June 30, 2020 (January 1, 2020 - June 30, 2020)(1) Consolidated Operating Results(Percentages represent changes from the corresponding in the previous year)

Net Sales

Operating Income％ Millions of yen

Millions of yen

Six months ended 6/30/20
Six months ended 6/30/19

84,97591,607-7.2-8.4(Note) Comprehensive Income: FY2020Q2

Six months ended 6/30/20
Six months ended 6/30/19

Ordinary Income％ Millions of yen

6,676
8,282

Net Income Attributableto Owners of Parent％ Millions of yen

-19.4
-41.1

6,776
8,040

-15.7
-41.4

705 million yen (-81.8％)

FY2019Q2

4,860
5,770

％
-15.8
-45.1

3,877 million yen (-39.7％)

Net Income Attributable
Net Income Attributableto Owners of Parent per Share to Owners of Parent per Share(Diluted)
Yen
Yen
115.20114.67136.84136.24(2) Consolidated Financial Position
Total Assets

Shareholders'Equity Ratio

Net Assets％
Millions of yen
Millions of yen
As of 6/30/20
309,659
169,060
54.4
As of 12/31/19
315,133
171,615
54.3(Reference) Net assets excluding subscription rights to shares and non-controlling interests:
As of 6/30/20
168,359 million yen
As of 12/31/19 170,953 million yen
2. Dividends
Dividend per ShareYear ended 12/31/19
Year ended 12/31/20

First
Quarter

SecondQuarter

Third
QuarterYear End

Yen
-

Yen
50.00
30.00

Yen
-

Yen
80.00

Yen
130.00

-

45.00

75.00

Year ending 12/31/20(Forecast)(Note) Changes in the latest dividend forecasts released: None

Total

3. Consolidated Forecast for the Year Ending December 31, 2020 (January 1, 2020 - December 31, 2020)(Percentages represent changes from the previous fiscal year)

Net Sales
Millions of yen

Operating Income％ Millions of yen

Ordinary Income％ Millions of yen％

Full year
188,000 -6.1
15,000 -28.3
14,500 -29.3(Note) Changes in the latest business forecasts released: Yes

1

Net Income Attributableto Owners of Parent
Millions of yen％

10,500 -32.2

Net Income Attributableto Owners of Parent
per ShareYen
248.83

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: None
② 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)June 30, 2020

42,532,752

December 31, 201942,532,752② Treasury stock

June 30, 2020

335,405

December 31, 2019356,524③ Average number of outstanding sharesJan. - Jun.,2020

42,188,329

Jan. - Jun., 201942,173,185

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 11, 2020.
However, due to risks and various uncertain factors such as future business operation policies, changes in theeconomic environment in Japan and overseas, fluctuation of currency rates, it is possible that actual
performance would vary considerably from the forecasts.

2

HORIBA, Ltd. (Consolidated)1. Qualitative Information Concerning Consolidated Results(1) Information Concerning Consolidated Operating Results(For details, see page 12, “3. Supplemental Information - HORIBA, Ltd. Financial Highlights for the
Six Months Ended June 30, 2020”)

During the Six months ended June 30, 2020 (the first half year), HORIBA, Ltd. (“the Company”) andits consolidated subsidiaries (together “the HORIBA Group” or “HORIBA” as a consolidated group)
decreased sales by 7.2% year-on-year to 84,975 million yen, due to decline in sales in mainly
Automotive Test Systems segment while sales in the Semiconductor Instruments & Systems segment
increase. Operating income decreased by 19.4% to 6,676 million yen, ordinary income by 15.7% to
6,776 million yen and net income attributable to owners of parent by 15.8% to 4,860 million yen.

The operating results of each business segment are summarized as follows.

(Automotive Test Systems)
Mainly due to the stagnation of corporate activities affected by the spread of COVID-19, segment
sales decreased by 21.2% year-on-year to 27,108 million yen. As a result, operating loss of 269
million yen was recorded (compared to operating income of 1,599 million yen in the first six months ofthe previous year).

(Process & Environmental Instruments & Systems)
Mainly due to the stagnation of corporate activities affected by the spread of COVID-19, sales
declined in Asia and Europe. As a result, segment sales decreased by 5.3% year-on-year to 8,673
million yen and operating income decreased by 33.8% to 439 million yen.

(Medical-Diagnostic Instruments & Systems)
The number of tests performed at hospitals decreased as the spread of COVID-19 led to a decreasein the number of patients who visit hospital. Consequently, segment sales decreased by 17.9% yearon-year to 10,402 million yen, and operating loss of 75 million yen was recorded (compared tooperating income of 709 million yen in the first six months of the previous year).

(Semiconductor Instruments & Systems)
In response to a gradual recovery of semiconductor manufacturers’ capital expenditures, driven by anincrease in demand for semiconductors associated with the expansion of telework, digital businessand others, sales to semiconductor production equipment manufacturers increased. As a result,segment sales increased by 20.8% year-on-year to 27,423 million yen and operating income
increased by 18.9% to 6,418 million yen.

(Scientific Instruments & Systems)
Mainly due to the stagnation of corporate activities affected by the spread of COVID-19, segment
sales decreased by 10.4% year-on-year to 11,367 million yen. On the profit side, operating income of
163 million yen was recorded, contributed by reduction mainly in selling expense (compared tooperating loss of 90 million yen in the first six months of the previous year).

3

HORIBA, Ltd. (Consolidated)(2) Information Concerning Consolidated Earnings Forecasts for FY2020
HORIBA's full year consolidated earnings forecast is as follows.
Our assumption for the exchange rate has been changed from 110 yen to 107 yen against the US
dollars. The exchange rate for the euro remains unchanged.
Consolidated forecast of full year FY2020
Amount : Millions of yen
Previous
Forecast(As of June 9)

Revised
Forecast(As of Aug. 11)

Net Sales

187,000

188,000+1,000Operating Income

15,00015,000-Ordinary Income

14,50014,500-Net Income Attributableto Owners of Parent

10,50010,500-Changes

Consolidated forecast of full year FY2020 by segment
Net Sales

Amount : Millions of yen Operating Income
Previous
Revised
Forecast
Forecast
Changes(As of June 9) (As of Aug. 11)

Amount : Millions of yen

Previous
Revised
Forecast
Forecast
Changes(As of June 9) (As of Aug. 11)

Automotive

68,00068,000-Automotive

500

500

-

Process &Environmental

17,50017,500-

Process &Environmental

500

500

-

Medical

23,00022,000-1,000

Medical

200

-

-200

Semiconductor

52,50054,000+1,500

Semiconductor

13,50013,500-Scientific26,00026,500+500

Scientific

300

500

+200

Total

187,000

188,000+1,000Total

15,00015,000-In light of the progress achieved up to the second quarter of this year, the Semiconductor Instruments& Systems segment revised upward its sales forecast by 1,500 million yen. The Scientific Instruments& Systems segment also revised upward its sales and operating income forecasts by 500 million yen
and 200 million yen respectively, by taking into account the recent order trend.
The Medical-Diagnostic Instruments & Systems segment revised downward its sales and operating
income forecast by 1,000 million yen and 200 million yen respectively, as the number of tests
performed at hospitals is projected to continue declining in the second half year, along with an
anticipated decrease in the number of patients who visit hospital because of the spread of COVID-19.
As a result, overall sales forecast has been revised upward by 1,000 million yen to 188,000 million
yen, while forecasts for operating income, ordinary income, and net income attributable to owners ofparent remain unchanged.
The dividend forecast for the current fiscal year remains unchanged.

4

HORIBA, Ltd. (Consolidated)2. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets
Amount : Millions of yen
FY2019(As of December 31, 2019)

FY2020 first half
(As of June 30, 2020)

AssetsCurrent Assets:
Cash and bank deposits

95,646

102,569

Trade notes and accounts receivable

59,121

46,369Marketable securities

3,079

1,845

Merchandise and finished goods

19,995

20,911Work in process

17,69020,035

Raw materials and supplies

13,927

14,122Other current assets

7,889

7,975

Allowance for doubtful accounts

(796)

(796)

216,553

213,032

Buildings and structures, net

39,78038,221

Machinery, equipment and vehicles, net

12,053

11,223Land

15,177

14,908Construction in progress

3,604

6,843

Other property, plant and equipment, net

5,313

4,982

Total Property, Plant and Equipment

75,92976,179Goodwill

1,254

1,077

Software

2,734

2,506

Leasehold interests in land

548

513

Other intangibles

997

781

Total Intangibles

5,535

4,879

10,612

8,861

13

80

Deferred tax assets

3,605

3,778

Other investments and other assets

2,933

2,897

(51)

(49)

17,114

15,567

98,57996,626315,133

309,659

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

Intangibles:

Investments and Other Non-Current Assets:
Investment securities
Net defined benefit asset

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

5

HORIBA, Ltd. (Consolidated)Amount : Millions of yen
FY2019FY2020 first half

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

Liabilities
Current Liabilities:
Trade notes and accounts payable

19,861

19,126

Short-term loans payable

8,495

9,098

Current portion of bonds

15,00015,000Accounts payable - other

16,164

13,099Accrued income taxes

2,004

2,949

Advances Received

19,16918,142

Accrued bonuses to employees

1,188

489

-

279

Reserve for product warranty

2,369

2,586

Other current liabilities

4,218

5,010

Total Current Liabilities

88,47285,782

Corporate bonds

30,00030,000Long-term loans payable

16,878

16,685613

197

Net defined benefit liability

2,017

2,066

Other non-current liabilities

5,534

5,866

Total Non-Current Liabilities

55,04454,815

143,517140,598

Common stock

12,011

12,011

Capital surplus

18,59918,599Retained earnings

141,689

143,160

Treasury stock(1,405)(1,322)

Total Shareholders' Equity

170,894

172,447

4,344

3,157

0

0

Foreign currency translation adjustments(4,042)(7,036)

Remeasurements of defined benefit plans

(244)

(209)

58

(4,088)Subscription Rights to Shares

651

697

Non-Controlling Interests

103

171,615

169,060

315,133

309,659

Accrued bonuses to directors and corporate auditors

Non-Current Liabilities:

Deferred tax liabilities

Total Liabilities
Net Assets
Shareholders' Equity

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

Total Accumulated Other Comprehensive Income

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

FY2020 first half(Six months ended
June 30, 2019)(Six months ended
June 30, 2020)

Net Sales

91,607

84,975

Cost of Sales

53,077

49,906Gross Income

38,53035,069Selling, General and Administrative Expenses

30,24728,392

Operating Income

8,282

6,676

Interest income

113

214

Dividend income

98

88

Subsidy income

34

173

Other

93

127

Total Non-Operating Income

339

604

Interest expense

234

209

Foreign exchange losses

259

248

Other

87

46

Total Non-Operating Expense

581

504

8,040

6,776

111

18

-

554

Reversal of provision for loss on dissolutionof the employees'pension fund137-

Total Extraordinary Gain

248

573

Loss on sales of fixed assets-

0Loss on disposal of fixed assets

6

20

Loss on valuation of investment securities-

9

Total Extraordinary Loss

6

29

8,282

7,319

Income taxes (current)

2,640

2,562

Income taxes (deferred)

(144)

(98)

Total Income Taxes

2,496

2,464

5,786

4,855

15

(4)

5,770

4,860

Non-Operating Income

Non-Operating Expense

Ordinary Income
Extraordinary Gain
Gain on sales of fixed assets
Gain on sales of investment securities

Extraordinary Loss

Income before Income Taxes

Net Income
Profit (loss) attributable to non-controlling interests
Net Income Attributable to Owners of Parent

7

HORIBA, Ltd. (Consolidated)

(Consolidated Statements of Comprehensive Income)Amount : Millions of yen

Net Income

FY2019 first half(Six months ended

FY2020 first half(Six months ended

June 30, 2019)

June 30, 2020)

5,786

4,855

441

(1,187)2(0)Foreign currency translation adjustments(2,368)(2,996)

Remeasurements of defined benefit plans

16

35(1,908)(4,149)

3,877

705

3,865

713

12

(7)

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
FY2019 first half

FY2020 first half(Six months ended
June 30, 2019)(Six months ended
June 30, 2020)

Cash Flows from Operating Activities:
Income before income taxes

8,282

7,319

Depreciation expense

4,169

4,612

Amortization of goodwill

101

159

Increase (decrease) in allowance for doubtful accounts

90

24

Increase (decrease) in net defined benefit liability

28

92Interest and dividend income

(211)

(303)

Interest expense

234

209

Foreign exchange losses (gains)

20

178

Loss (gain) on sales of fixed assets

(111)

(18)

Loss on disposal of fixed assets

6

20

Loss (gain) on valuation of investment securities-

9

Loss (gain) on sales of investment securities

-

(554)

Decrease (increase) in trade notes and accounts receivable

8,134

11,826

Decrease (increase) in inventories(1,558)(4,010)

Increase (decrease) in trade notes and accounts payable(3,728)(403)

Other, net

2,415(2,108)Subtotal

17,875

17,054

Interest and dividends received

220

284

Interest paid

(243)

(232)

(4,003)(1,720)13,84815,385

Increase in time deposits(1,873)(628)

Decrease in time deposits

2,662

538

Payments for purchase of marketable securities(1,400)(1,000)

Proceeds from sales or redemption of marketable securities

1,868

1,700

Payments for purchase of property, plant and equipment(4,951)(6,029)Proceeds from sales of property, plant and equipment

245

38

Payments for purchase of intangibles

(302)

(175)

Payments for purchase of investment securities

(8)

(30)

Proceeds from sales or redemption of investment securities

0609

Payments of loans receivable

(13)

(40)

Collection of loans receivable

16

15

(508)

0

(4,267)(5,001)

Income taxes (paid) refund
Net Cash Provided by (used in) Operating Activities
Cash Flows from Investing Activities:

Other, net
Net Cash Provided by (used in) Investing Activities

9

HORIBA, Ltd. (Consolidated)Amount : Millions of yen
FY2019 first half

FY2020 first half(Six months ended
June 30, 2019)(Six months ended
June 30, 2020)

Cash Flows from Financing Activities:
Net increase (decrease) in short-term borrowings(1,617)

1,082

251

25

(1,425)(185)

Repayments on finance lease obligations

(467)

(648)

Net decrease (increase) of treasury stock

(0)

(0)

(4,002)(3,370)(7,262)(3,097)

Effect of Exchange Rate Changes on Cash and Cash Equivalents

(511)

(966)

Net Increase (Decrease) in Cash and Cash Equivalents

1,807

6,320

Cash and Cash Equivalents at Beginning of Period

62,837

96,064

Cash and Cash Equivalents at End of Period

64,644102,385

Increase in long-term debt
Repayments of long-term debt

Cash dividends paid
Net Cash Provided by (used in) Financing Activities

10

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 bymultiplying 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.
Additional information"Leasehold interests in land", which was included in “Other intangibles” in “Intangibles” in the previous
consolidated fiscal year, is presented separately from the first quarter of the current consolidated
fiscal year, from the viewpoint of clarity in accounts classification. The Consolidated Financial
Statements for the previous consolidated fiscal year have been reclassified to reflect this change.
As a result, in the Consolidated Balance Sheets for the previous consolidated fiscal year, the 1,546
million yen presented as "Other intangibles" in "Intangibles" has been reclassified as "Leaseholdinterests in land" of 548 million yen and "Other intangibles" of 997 million yen.

11

HORIBA, Ltd. (Consolidated)3. Supplemental Information
HORIBA, Ltd. Financial Highlights for the Six Months Ended June 30, 2020
1. Consolidated Financial Results

Amount: Millions of yen

12/2019
Results

12/2020
Results

1st half

1st half

ChangesAmountRatio

12/2019
Result12/2020
Forecasts

Full year

Full year

AmountChangesRatio

Net Sales

91,607

84,975-6,631-7.2%

200,241

188,000-12,241-6.1%

Operating Income

8,282

6,676

-1,606-19.4%

20,91615,000-5,916-28.3%

Operating Income Ratio

9.0%

7.9%

-1.1P

10.4%

8.0%

-2.4P

8,040

6,776

-1,263

20,51814,500-6,018

10.2%

7.7%

-2.5P

15,481

10,500-4,981

Ordinary Income-15.7%

Ordinary Income Ratio

8.8%

8.0%

-0.8P

Net Income Attributableto Owners of Parent

5,770

4,860

-910

Net Income Ratio

6.3%

5.7%

-0.6P

7.7%

5.6%

-2.1P

US$

110.06108.23-1.83

109.03107.00

-2.03

Euro

124.32

119.31-5.01

122.03120.00-2.03-15.8%

2. Consolidated Segment Results
Net Sales-29.3%-32.2%

Amount: Millions of yen

12/2019
Results

12/2020
Results

1st half

1st half

ChangesAmountRatio

12/2019
Result12/2020
Forecasts

Full year

Full year

ChangesAmount

Ratio

Automotive

34,381

27,108-7,272-21.2%

81,04268,000-13,042-16.1%

Process&Environmental

9,161

8,673

-488

-5.3%

19,50017,500-2,000-10.3%

Medical12,667

10,402-2,264-17.9%

25,33522,000-3,335-13.2%

Semiconductor

22,70527,423+4,717+20.8%

47,19154,000+6,808+14.4%

Scientific12,691

11,367-1,324-10.4%

27,17026,500

-670

-2.5%

Total

91,607

84,975-6,631-7.2%

200,241

188,000-12,241-6.1%

Operating Income

12/2019
Results

12/2020
Results

1st half

1st half

ChangesAmountRatio

12/2019
Result12/2020
Forecasts

Full year

Full year

ChangesAmount

Ratio

Automotive

1,599

(269)

-1,869

-

6,454

500

-5,954-92.3%

Process&Environmental

663

439

-224

-33.8%

1,697

500-1,197-70.5%

Medical

709

(75)

-784

-

1,302

Semiconductor

5,399

6,418

+1,018+18.9%

10,727

(90)

163

+253

-

8,282

6,676

-1,606-19.4%

Scientific
Total

12

-

-1,302-100.0%13,500+2,772+25.8%

734

500

-234

-31.9%

20,91615,000-5,916-28.3%HORIBA, Ltd. (Consolidated)3. Consolidated Segment Sales by Destination

Amount: Millions of yen

12/2019
Results

12/2020
Results

12/2019
Result12/2020
Forecasts

1st half

1st half

34,381

27,108-7,272

Ratio

Full year

Full year

AmountRatio-21.2%

81,04268,000-13,042-16.1%

Japan

10,528

9,174

Asia

9,096

6,945

-1,354-12.9%

21,541

17,000-4,541-21.1%-2,150-23.6%

24,50719,000-5,507-22.5%

Americas4,372Europe10,3832,214-2,157-49.3%

9,986

8,500

-1,486-14.9%

8,773-1,609-15.5%

25,00623,500-1,506-6.0%

Process&Environmental

9,161

8,673

-488

-5.3%

19,50017,500-2,000-10.3%

Japan

4,900

4,934

+33

+0.7%

10,187

9,500

-687

-6.7%

Asia

1,874

1,540

-334

-17.8%

4,242

4,000

-242

-5.7%

Americas

1,152

1,168

+16

+1.4%

2,461

2,000

-461

-18.8%

Europe

1,234

1,029

-204

-16.6%

2,608

2,000

-608

-23.3%

Automotive

MedicalChangesAmountChanges

12,667

10,402-2,264-17.9%

25,33522,000-3,335-13.2%

Japan

3,107

2,764

-343

-11.0%

6,328

6,000

-328

-5.2%

Asia

2,726

2,034

-692

-25.4%

5,661

4,500

-1,161-20.5%

Americas

2,642

1,958

-683

-25.9%

5,080

4,000

-1,080-21.3%

EuropeSemiconductor

4,190

3,646

-544

-13.0%

8,265

7,500

-765

-9.3%

22,70527,423+4,717+20.8%

47,19154,000+6,808+14.4%

Japan

8,067

9,501

+1,433+17.8%

16,79020,000+3,209+19.1%

Asia

9,935

13,071+3,136+31.6%

21,251

25,000+3,748+17.6%

Americas

2,995

3,556

+560

+18.7%

6,030

6,000

-30

-0.5%

Europe-24.2%

-3.8%
-2.5%

1,706

1,294

-412

3,118

3,000

-118

12,691

11,367-1,324-10.4%

27,17026,500

-670

Japan

3,536

3,016

-520

-14.7%

7,321

6,000

-1,321-18.1%

Asia

3,007

2,658

-349

-11.6%

6,796

7,500

+703

+10.3%

Americas

3,525

3,237

-287

-8.2%

7,520

7,500

-20

-0.3%

Europe

2,621

2,453

-167

-6.4%

5,531

5,500

-31

-0.6%

ScientificTotal

91,607

84,975-6,631-7.2%

200,241

188,000-12,241

-6.1%

Japan

30,141

29,390

-751

-2.5%

62,16958,500-3,669

-5.9%

Asia

26,641

26,251

-389

-1.5%

62,46060,000-2,460-3.9%

Americas14,68812,135-2,552-17.4%

31,07928,000-3,079-9.9%

Europe20,136

17,198-2,938-14.6%

44,532

41,500-3,032-6.8%

13

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

45,3204,434

12/2019 Results
2Q
3Q

46,2873,848

45,422
3,722

Amount: Millions of yen
4Q

63,2118,910

1Q Results

12/2020
2Q Results

2H Forecasts

44,997
3,895

39,9782,781

103,024
8,323

9.8%

8.3%

8.2%

14.1%

8.7%

7.0%

8.1%

4,303

3,737

3,517

8,960

3,906

2,870

7,723

9.5%

8.1%

7.7%

14.2%

8.7%

7.2%

7.5%

2,561

3,209

2,655

7,055

2,287

2,573

5,639

Net Income Ratio

5.7%

6.9%

5.8%

11.2%

5.1%

6.4%

5.5%

US$
Euro

110.22125.16109.90123.48107.24119.22108.76120.26108.86120.08107.60118.54105.77120.69

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

16,242
4,791
6,307
11,5486,429
45,32012/2019 Results
2Q
3Q

18,138
4,369
6,359
11,157
6,261
46,287

17,705
4,709
6,036
10,837
6,132
45,422

4Q

28,956
5,628
6,632
13,647
8,346
63,211

1Q

12/2019 Results
2Q
3Q

4Q

905
470
208
2,752
98
4,434

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

3,655
721
252
3,290
991
8,910

1,199
312
339
2,037
(167)
3,722

1Q Results

Amount: Millions of yen
12/2020
2Q Results 2H Forecasts

14,8704,595
5,749
13,847
5,935
44,997

12,238
4,078
4,653
13,576
5,431
39,97840,891
8,826
11,597
26,57615,132103,024

1Q Results

12/2020
2Q Results

2H Forecasts

322
250
156
3,241
(75)
3,895

(591)
188
(231)
3,177
238
2,781

769
60
75
7,081
336
8,323

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

14

HORIBA, Ltd. (Consolidated)