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 Nine Months Ended December 31, 2022
(Under IFRS)DATE: February 3, 2023
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:―
Scheduled date to file quarterly securities report (Japanese only):
February 13, 2023
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 nine months ended December 31, 2022
(from April 1, 2022 to December 31, 2022)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Revenue
Nine months ended

Profit before income
taxes

Business profit

Profit for the period

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

December 31, 2022

1,224,909

19.9

32,10027.1

36,743

32.4

20,836

67.5

December 31, 2021

1,021,981

15.7

25,262－

27,755－

12,439－Profit attributable toowners of the parent
company
Nine months ended

Comprehensive income
for the period

Basic earnings
per share

Diluted earnings
per share

Millions of yen%

Millions of yen%

YenYenDecember 31, 2022

18,33280.9

25,337(37.2)

53.45

53.43

December 31, 2021

10,131－40,376

145.0

29.54

29.53

(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%

December 31, 2022

1,387,979

674,134

640,084

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, 2022Fiscal year ended

March 31, 2023

Fiscalyear-end

Third quarter-end

YenYen－

8.00

－－

11.00

－

Fiscal year ending

March 31, 2023 (Forecast)

TotalYenYen

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: No

Basic earnings
per shareYen

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 December 31, 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 December 31, 2022

311,369 shares

As of March 31, 2022

321,786 shares(iii) Average number of shares outstanding during the period
Nine months ended December 31, 2022

342,971,849 shares

Nine months ended December 31, 2021

342,965,910 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 December 31, 2022

AssetsCurrent assets
Cash and cash equivalents

124,254

120,110

Trade and other receivables

319,084

307,112Inventories

229,074

254,803

Other financial assets

5,099

4,240

Income tax receivable

943

4,889

Other current assets

4,522

6,209

682,979

697,364

Assets held for sale

2,518

－Total current assets

685,497

697,364

Property, plant and equipment

460,012454,390

Goodwill and Intangible assets

34,59032,364

Other financial assets

139,771

136,071

Investments accounted for using equity method

13,091

14,573

Deferred tax assets

17,414

18,127

Other non-current assets

36,08535,086

Total non-current assets

700,965

690,614

1,386,463

1,387,979

Sub total

Non-current assets

Total assets

(Millions of yen)
As of March 31, 2022

As of December 31, 2022

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables

317,672

331,877

Bonds and borrowings85,749

75,619Other financial liabilities

3,128

5,043

Income taxes payable

13,375

3,757

Provisions

6,547

6,367

Other current liabilities

6,258

4,390

432,732

427,0542,047－434,779

427,054

Bonds and borrowings

176,012

172,779

Other financial liabilities

7,657

6,188

Retirement benefit liabilities

75,11076,133

228

102

Deferred tax liabilities

24,432

23,590

Other non-current liabilities

7,827

7,997

Total non-current liabilities

291,268

286,790726,048

713,845

Capital stock

45,59145,591

Capital surplus107,638

107,851

Treasury stock

(430)

(415)

Other components of equity

27,25334,186

Retained earnings

443,960

452,870

Equity attributable to owners of the parent company

624,012640,084

Non-controlling interests

36,402

34,049Total equity

660,415

674,134

1,386,463

1,387,979

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)
Nine months ended
December 31, 2021

Nine months ended
December 31, 2022

Revenue

1,021,981

1,224,909

Cost of revenue(872,774)(1,050,315)

Gross profit

149,206

174,594

Selling, general and administrative expenses(123,944)(142,493)

Business profit

25,262

32,100

Other income

5,082

4,426

Other costs(7,148)(3,410)Operating profit

23,195

33,116

Finance income

6,925

7,028

Finance costs(2,660)(3,986)295

585

Profit before income taxes

27,75536,743

Income tax expense(15,316)(15,906)

Profit for the period

12,43920,836

Owners of the parent company

10,131

18,332

Non-controlling interests

2,307

2,504

Basic (Yen)

29.54

53.45

Diluted (Yen)

29.53

53.43

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)
Nine months ended
December 31, 2021
Profit for the period

Nine months ended
December 31, 2022

12,43920,83615,854(2,826)

Remeasurements of defined benefit pension plans

254

254

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

3528

16,144(2,543)

11,166

6,018

626

1,026

11,793

7,044

Total other comprehensive income

27,937

4,500

Comprehensive income for the period

40,37625,337

Owners of the parent company

36,66422,725

Non-controlling interests

3,711

2,612

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

TotalItems that may be reclassified subsequently to profit orloss
Exchange differences on translation of foreign
operations
Share of other comprehensive income of investments
accounted for using equity method
Total

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

－

－

－

15,863269

10,399－－－15,863269

10,399Acquisition of treasury stock

－－

(1)

－

－

－

Dividends

－

－

－

－

－

－

Share-based payment transactions

－

15

－

－

－

－

Transfer to retained Earnings

－

－

－

(15,863)(269)－

Change of scope of consolidation

－

(28)

－

－

－

－

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

－

215

－

－

－

－

Total transactions with the owners

－

202

(1)

(15,863)(269)－

As of December 31, 2021

45,591

107,599

(430)

－

－

4,465

As of April 1, 2022

45,591

107,638(430)－－

27,253

－

－

－

－

－

－

45,591

107,638

(430)

－

－

27,253

－

－

－

－

－

－

－

－

－

(2,841)

302

6,933

－

－

－

(2,841)

302

6,933

Acquisition of treasury stock

－

－

(1)

－

－

－

Dividends

－

－－

－

－

－

Share-based payment transactions

－

(4)

16－

－

－

Transfer to retained Earnings

－

－

－

2,841

(302)

－

Change of scope of consolidation

－－

－－

－

－

Changes in the ownership interest insubsidiaries without a loss of control

－

217

－

－

－

－

Total transactions with the owners

－

213

15

2,841(302)－

45,591

107,851(415)－－

34,186

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

Comprehensiveperiod

incomefortheIncrease (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 December 31, 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－

10,131

10,131

2,307

12,43926,532－

26,532

1,404

27,937

26,532

10,131

36,664

3,711

40,376

Acquisition of treasury stock

－

－

(1)

－

(1)

Dividends－(5,488)(5,488)(1,951)(7,439)

Share-based payment transactions

－－

15－

15

(16,133)

16,133－－－

Change of scope of consolidation

－

281

252

(1)

251

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

－

－

215

(584)

(368)

(16,133)

10,926(5,006)(2,536)(7,543)As of December 31, 2021

4,465

425,231

582,457

35,354

617,812

As of April 1, 2022

27,253443,960

624,01236,402

660,415

－

308

308

－

308

27,253444,269

624,32136,402660,724－

18,332

18,332

2,504

20,836

4,393

－

4,393

107

4,500

4,393

18,332

22,725

2,612

25,337

Acquisition of treasury stock

－－

(1)

－

(1)

Dividends－(7,203)(7,203)(4,905)(12,108)

Share-based payment transactions

－－

11－

11

2,539

(2,539)－－－Change of scope of consolidation－

1111(53)(41)

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

－

－

217

(5)

212

Total transactions with the owners

2,539(9,730)(6,963)(4,964)(11,927)

34,186452,870

640,084

34,049674,134

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
Comprehensiveperiod

incomefortheTransfer to retained Earnings

As of December 31, 2022

Segment information
For the nine months ended December 31, 2021
(Millions of yen)
Reportable segment
Automotive

Industrial andMachine tools
Bearings

TotalAdjustments

Consolidated

Revenue
Customers

688,800

228,597104,583

1,021,981－

1,021,981

893

14,264

14,76829,926(29,926)－Total689,693242,861

119,352

1,051,907(29,926)

1,021,981

Segment profit: Business profit

7,039

12,214

5,005

24,2591,002

25,262

Intersegment

Other income

5,082

Other costs(7,148)Operating profit

23,195

Finance income

6,925

Finance costs(2,660)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.

29527,755

For the nine months ended December 31, 2022
(Millions of yen)
Reportable segment
Automotive

Industrial andMachine tools
Bearings

Total

Adjustments

Consolidated

Revenue
Customers

829,473

262,007

133,428

1,224,909－

1,224,909

Intersegment

1,580

14,281

16,96032,822(32,822)－

Total

831,053

276,288

150,388

1,257,731(32,822)

1,224,909

Segment profit: Business profit

10,167

10,871

10,256

31,295804

32,100

Other income

4,426

Other costs(3,410)Operating profit

33,116

Finance income

7,028

Finance costs(3,986)

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.

585
36,743