Notice: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Summary of Consolidated Financial Results
for the Six Months Ended September 30, 2022
(Under IFRS)DATE: October 28, 2022
Company name:
JTEKT Corporation
Stock exchange listing: Tokyo, Nagoya
Stock code:
6473
URL: https://www.jtekt.co.jp/e/Representative:
Kazuhiro Sato, President, Member of the Board
Contact:
Takanori Iwai, General Manager of Finance & Accounting Dept.
Telephone:+81-566-25-7326
Scheduled date to commence dividend payments:
November 25, 2022
Scheduled date to file quarterly securities report (Japanese only):
November 11, 2022
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (for analysts and institutional investors)(Amounts less than one million yen are omitted.)

1. Consolidated financial results for the six months ended September 30, 2022
(from April 1, 2022 to September 30, 2022)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

RevenueSix months ended

Profit before income
taxes

Business profit

Profit for the period

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

September 30, 2022

804,57621.1

18,055

16.4

26,431

48.6

13,98574.1

September 30, 2021

664,140

27.7

15,508－17,781

－

8,032

－

Profit attributable toowners of the parentcompany
Six months ended

Comprehensive income
for the period

Basic earnings
per share

Diluted earnings
per share

Millions of yen%

Millions of yen%

YenYenSeptember 30, 2022

12,23380.739,235

75.0

35.67

35.65

September 30, 2021

6,769－

22,417－

19.74

19.73

(2) Consolidated financial position
Total assets
As ofTotal equity

Equity attributable toowners of the parentcompany

Ratio of equity
attributable to owners of
the parent company tototal assets

Millions of yen

Millions of yen

Millions of yen%

September 30, 2022

1,425,560

692,560

656,638

46.1

March 31, 2022

1,386,463

660,415624,01245.0

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarterend

Yen
Fiscal year ended

March 31, 2022
Fiscal year ended

March 31, 2023

Yen－

8.00

－

11.00

Fiscalyear-end

Third quarter-end
Yen

Fiscal year ending

March 31, 2023 (Forecast)

Total
YenYen－

10.00

18.00

－

11.00

22.00

(Note) Changes in the forecasted cash dividends in this quarter: No
3. Forecast of consolidated financial results for the year ending March 31, 2023
(from April 1, 2022 to March 31, 2023)(Percentages indicate year-on-year changes.)
Revenue

Full year

Business profit

Profit before incometaxes

Profit attributable toowners of the parentcompany

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

1,700,000

19.0

60,00041.7

59,50035.4

25,00020.9(Note) Changes in the forecast of consolidated financial results in this quarter: Yes

Basic earnings
per share
Yen

72.89

*Notes(1) Changes in significant subsidiaries during the period(changes in specified subsidiaries resulting in the change in scope of consolidation): Yes
Excluded:
4 companies
JTEKT AUTOMOTIVE TENNESSEE-MORRISTOWN, INC.
JTEKT AUTOMOTIVE TENNESSEE-VONORE, LLC
JTEKT AUTOMOTIVE LYON S.A.S.
JTEKT AUTOMOTIVE DIJON SAINT-ETIENNE S.A.S.
(2) Changes in accounting policies and changes in accounting estimates(i) Changes in accounting policies required by IFRS: No(ii) Changes in accounting policies due to other reasons: No(iii) Changes in accounting estimates: No(3) Number of issued shares (ordinary shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2022

343,286,307 shares

As of March 31, 2022

343,286,307 shares(ii) Number of treasury shares at the end of the period
As of September 30, 2022

310,783 shares

As of March 31, 2022

321,786 shares(iii) Average number of shares outstanding during the period
Six months ended September 30, 2022

342,970,191 shares

Six months ended September 30, 2021

342,966,204 shares* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters
The forecasts included in this documents are based on the information that the Company has obtained at the time ofdisclosure.
Actual results may differ significantly from the forecast due to a various factors in the future.

Consolidated financial statements(1) Consolidated Statement of Financial Position(Millions of yen)
As of March 31, 2022

As of September 30, 2022

AssetsCurrent assets
Cash and cash equivalents

124,254

116,693

Trade and other receivables

319,084

329,247

Inventories

229,074

255,889

Other financial assets

5,099

4,017

Income tax receivable

943

2,501

Other current assets

4,522

5,652

682,979

714,001

Assets held for sale

2,518

－Total current assets

685,497714,001

Property, plant and equipment

460,012472,302

Goodwill and Intangible assets

34,59033,756

Other financial assets

139,771

137,483

Investments accounted for using equity method

13,091

14,529Deferred tax assets

17,414

17,902Other non-current assets

36,08535,582

Total non-current assets

700,965

711,558

1,386,463

1,425,560

Sub total

Non-current assets

Total assets

(Millions of yen)
As of March 31, 2022

As of September 30, 2022

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables

317,672

324,765

Bonds and borrowings

85,74981,373

Other financial liabilities

3,128

6,557

Income taxes payable

13,375

7,252

Provisions

6,547

6,870

Other current liabilities

6,258

4,898

432,732

431,7172,047－434,779

431,717

Bonds and borrowings

176,012

185,745

Other financial liabilities

7,657

7,406

Retirement benefit liabilities

75,11076,193228

97

Deferred tax liabilities

24,432

23,903

Other non-current liabilities

7,827

7,936

Total non-current liabilities

291,268

301,281

726,048

732,999

Capital stock

45,59145,591

Capital surplus

107,638

107,851

Treasury stock

(430)

(414)

Other components of equity

27,25352,764Retained earnings

443,960

450,845

Equity attributable to owners of the parent company

624,012656,638

Non-controlling interests

36,40235,921

Total equity

660,415

692,560

1,386,463

1,425,560

Sub total
Liabilities directly associated with assets held forsale
Total current liabilities
Non-current liabilities

Provisions

Total liabilities
EquityTotal liabilities and equity

(2) Consolidated statement of income and consolidated statement of comprehensive income
Consolidated Statement of Profit or Loss
(Millions of yen)Six months ended
September 30, 2021

Six months ended
September 30, 2022

Revenue

664,140

804,576

Cost of revenue(566,342)(692,439)

Gross profit

97,797112,137

Selling, general and administrative expenses(82,289)(94,081)Business profit

15,50818,055

Other income

3,930

2,919

Other costs(4,225)(2,152)

Operating profit

15,212

18,822Finance income

4,234

11,991

Finance costs(1,895)(4,710)229

327

Profit before income taxes

17,781

26,431

Income tax expense(9,749)(12,446)

Profit for the period

8,032

13,985

Owners of the parent company

6,769

12,233

Non-controlling interests

1,262

1,751

Basic (Yen)

19.74

35.67

Diluted (Yen)

19.73

35.65

Share of the profit of associates and joint ventures
accounted for using the equity method

Attributable toEarnings per shareConsolidated Statement of Comprehensive Income(Millions of yen)Six months ended
September 30, 2021
Profit for the period

Six months ended
September 30, 2022

8,032

13,985

13,976(2,614)Remeasurements of defined benefit pension plans

283

168Share of other comprehensive income of investments
accounted for using equity method

3417

14,294(2,428)(424)

26,488

Share of other comprehensive income of investments
accounted for using equity method

514

1,189

Total

90

27,678

Total other comprehensive income

14,38525,250Comprehensive income for the period

22,41739,235

Owners of the parent company

20,86235,323

Non-controlling interests

1,554

3,912

Other comprehensive income
Items that will not be reclassified subsequently to profit
or loss
Net fair value gain (loss) on equity instruments
designated as FVTOCI

Total
Items that may be reclassified subsequently to profit orloss
Exchange differences on translation of foreign
operations

Attributable to(3) Consolidated Statement of Changes in Equity(Millions of yen)
Equity attributable to owners of the parent company
Other components of equity
Capital stock

As of April 1, 2021

Capital surplus

Treasury stock

Net fair value gain
Exchange(loss) on equity Remeasurements
differences on
instrumentsof defined benefit
translation ofdesignated as
pension plansforeign operations
FVTOCI

45,591

107,397(428)－－(5,934)－－－－－－45,591

107,397

(428)

－

－

(5,934)

Profit for the period

－

－

－

－

－

－

Other comprehensive income

－

－

－

14,006

296

(209)

－

－

－

14,006296(209)

Acquisition of treasury stock

－

－

(1)

－

－

－

Dividends

－

－

－

－

－

－

Share-based payment transactions

－

15

－

－

－

－

Transfer to retained Earnings

－

－

－

(14,006)(296)－

Change of scope of consolidation

－

(28)

－

－

－

－

Changes in the ownership interest insubsidiaries without a loss of control

－

215

－

－

－

－

Total transactions with the owners

－

201

(1)

(14,006)(296)－

As of September 30, 2021

45,591

107,599(429)－－(6,143)As of April 1, 2022

45,591

107,638

(430)

－

－

27,253

－

－

－

－

－

－

45,591

107,638(430)－－

27,253－－－－－－－－－(2,628)206

25,511－－－(2,628)206

25,511

Acquisition of treasury stock

－

－

(0)

－－

－

Dividends

－

－－

－

－

－

Share-based payment transactions

－

(4)

16－

－

－

Transfer to retained Earnings

－－

－

2,628

(206)

－

Change of scope of consolidation

－－－－－

－

Changes in the ownership interest insubsidiaries without a loss of control

－

217

－

－－

－

Total transactions with the owners－

213

15

2,628(206)－45,591

107,851(414)－－

52,764

Increase (Decrease) based on
inflation accounting of Argentina
consolidated subsidiary
As of April 1, 2021 (adjusted)

Comprehensive
periodincomefortheIncrease (Decrease) based on
inflation accounting of Argentina
consolidated subsidiary
As of April 1, 2022 (adjusted)
Profit of the period
Other comprehensive income
Comprehensiveperiod

incomeAs of September 30, 2022

forthe(Millions of yen)Equity attributable to owners of the parent company
Other componentsof equity

Retained Earnings

Non-controllinginterests

Total

Total equity

Total
As of April 1, 2021

(5,934)404,281

550,908

34,179585,088

－

(108)

(108)

－

(108)

(5,934)404,172

550,799

34,179584,979

－

6,769

6,769

1,262

8,032

14,093－14,093291

14,385

14,093

6,769

20,862

1,554

22,417

Acquisition of treasury stock

－－

(1)

－

(1)

Dividends－(2,744)(2,744)(1,867)(4,611)

Share-based payment transactions－－

15－15(14,302)

14,302－－－

Change of scope of consolidation

－

281

252

(1)

251

Changes in the ownership interest in
subsidiaries without a loss of control

－－

215

(584)

(368)

(14,302)

11,840(2,261)(2,452)(4,714)As of September 30, 2021

(6,143)422,783

569,400

33,281

602,682

As of April 1, 2022

27,253443,960

624,01236,402

660,415

－

491

491

－

491

27,253444,452

624,504

36,402660,906－

12,233

12,233

1,751

13,98523,089－23,0892,160

25,25023,08912,23335,323

3,912

39,235Acquisition of treasury stock

－

－

(0)

－

(0)

Dividends－(3,430)(3,430)(4,333)(7,763)

Share-based payment transactions

－－

11－

11

2,421

(2,421)－－－

Change of scope of consolidation－

11

11(53)(41)

Changes in the ownership interest in
subsidiaries without a loss of control

－

－

217

(5)

212

Total transactions with the owners

2,421(5,839)(3,189)(4,392)(7,581)

52,764450,845656,638

35,921

692,560

Increase (Decrease) based on
inflation accounting of Argentina
consolidated subsidiary
As of April 1, 2021 (adjusted)
Profit for the period
Other comprehensive income
Comprehensiveperiod

incomefortheTransfer to retained Earnings

Total transactions with the owners

Increase (Decrease) based on
inflation accounting of Argentina
consolidated subsidiary
As of April 1, 2022 (adjusted)
Profit of the period
Other comprehensive income
Comprehensive
periodincomefortheTransfer to retained Earnings

As of September 30, 2022

Segment information
For the six months ended September 30, 2021
(Millions of yen)
Reportable segment
Automotive

Industrial andMachine tools
Bearings

TotalAdjustments

ConsolidatedRevenueCustomers

443,206

151,453

69,480664,140－

664,140

595

8,677

10,066

19,340(19,340)－

Total

443,802160,130

79,547

683,480(19,340)

664,140

Segment profit: Business profit

3,316

8,456

3,305

15,078429

15,508Intersegment

Other income

3,930

Other costs(4,225)

Operating profit

15,212Finance income

4,234

Finance costs(1,895)

Share of the profit of associates
and joint ventures accounted forusing the equity method
Profit before income taxes(Notes) “Adjustments” of segment profit is the elimination of inter-segment transactions.

229
17,781

For the six months ended September 30, 2022
(Millions of yen)
Reportable segment
Automotive

Industrial andMachine tools
Bearings

Total

Adjustments

Consolidated

Revenue
Customers

544,002173,783

86,791

804,576－804,576

Intersegment

1,144

9,564

11,09621,805(21,805)－

Total

545,146

183,347

97,888826,382(21,805)

804,576

Segment profit: Business profit

3,954

7,078

6,450

17,483572

18,055

Other income

2,919

Other costs(2,152)

Operating profit

18,822Finance income

11,991

Finance costs(4,710)Share of the profit of associates
and joint ventures accounted forusing the equity method
Profit before income taxes(Notes) “Adjustments” of segment profit is the elimination of inter-segment transactions.

327
26,431