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.

Consolidated Financial Results
for the Three Months Ended June 30, 2024
(Under IFRS)DATE: July 31, 2024
Company name:
JTEKT Corporation
Stock exchange listing: Tokyo, Nagoya
Stock code:
6473
URL: https://www.jtekt.co.jp/e/Representative:
Yoshihito Kondo, 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:―
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 three months ended June 30, 2024
(from April 1, 2024 to June 30, 2024)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

RevenueThree months ended

Profit before income
taxes

Business profit

Profit for the period

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

June 30, 2024

464,057

4.1

8,570

(38.7)

16,758(32.8)

11,581(25.9)

June 30, 2023

445,681

19.9

13,980431.0

24,940173.6

15,624

329.6

Profit attributable toowners of the parent
company
Three months ended

Comprehensive income
for the period

Basic earnings
per share

Diluted earnings
per share

Millions of yen%

Millions of yen

%

Yen

Yen

June 30, 2024

10,813(27.8)

49,046

(5.5)

31.53

31.51

June 30, 2023

14,983378.4

51,894

82.8

43.69

43.67

(2) Consolidated financial position
Total assets
As ofMillions of yen

Total equity
Millions of yen

Equity attributable toowners of the parent
company

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

Millions of yen%

June 30, 2024

1,667,792

864,194

828,683

49.7

March 31, 2024

1,628,514

822,770788,984

48.4

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year ended－

March 31, 2024
Fiscal year ending

Fiscal year-end

Total

Yen

Yen

16.00

－

20.00

36.00

15.00

－

15.00

30.00

－

March 31, 2025
Fiscal year ending

March 31, 2025 (Forecast)(Note) Changes in the forecasted cash dividends in this quarter: No
3. Forecast of consolidated financial results for the year ending March 31, 2025
(from April 1, 2024 to March 31, 2025)(Percentages indicate year-on-year changes.)
Revenue

Full year

Business profit

Profit before income
taxes

Profit attributable toowners of the parent
company
Millions of yen

Millions of yen%

Millions of yen%

Millions of yen%

1,930,000

2.0

75,0002.9

68,500(5.5)(Note) Changes in the forecast of consolidated financial results in this quarter: No

Basic earnings
per share%Yen

35,000 (13.1)

102.04

*Notes(1) Significant changes in the scope of consolidation during the period: None
(2) Changes in accounting policies and changes in accounting estimates(i) Changes in accounting policies required by IFRS: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None
(3) Number of issued shares (ordinary shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024

343,286,307 shares

As of March 31, 2024

343,286,307 shares(ii) Number of treasury shares at the end of the period
As of June 30, 2024

286,240 shares

As of March 31, 2024

297,894 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

342,988,904 shares

Three months ended June 30, 2023

342,975,683 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified
public accountants or an audit firm: None
* Proper use of earnings forecasts, and other special matters
The forecasts included in this document are based on the information that we have obtained at the time of disclosure.
Actual results may differ from the forecasts due to various factors in the future. For more information on forecasts,
please see“(3) Explanation for forecast of consolidated financial results” under “1. Qualitative information forquarterly financial results” on page 2 of the attachments.

Table of Contents of Attachments
1. Qualitative information for quarterly financial results ……………………………………………………… 2(1) Explanation for operating results ………………………………………………………………………… 2(2) explanation for financial position ………………………………………………………………………

2(3) Explanation for forecast of consolidated financial result ………………………………………………… 2
2. Condensed quarterly consolidated financial statements and main notes ……………………………………

3(1) Condensed quarterly consolidated statement of financial position ……………………………………… 3(2) Condensed quarterly consolidated statement of profit or loss andcondensed quarterly consolidated statement of comprehensive income ………………………………… 5(3) Condensed quarterly consolidated statement of changes in equity ……………………………………… 7(4) Condensed quarterly consolidated statement of cash flows ……………………………………………… 9(5) Note on condensed quarterly consolidated financial statements ………………………………………… 11(Assumption of going concern) …………………………………………………………………………… 11(Segment information) …………………………………………………………………………………… 11－1－

1. Qualitative information for quarterly financial results(1) Explanation for operating results
For the three months ended June 30, 2024, the economic environment showed a gradual recovery trend, mainly due to the rebound inautomobile production, despite ongoing monetary tightening in various countries to combat global inflation. However, the market outlook
remains uncertain due to the slowdown in the Chinese economy, the prolonged conflict in Ukraine, worsening situation in the Middle East,and persistently high energy and material costs.
Under these conditions, for the three months ended June 30, 2024, revenue increased by 18,376 million yen or 4.1%, year on year, to464,057 million yen. Business profit decreased by 5,410 million yen or 38.7%, year on year, to 8,570 million yen. Profit attributable toowners of the parent company decreased by 4,169 million yen or 27.8%, year on year, to 10,813 million yen.
Business results by reportable segments are as follows.
Revenue of “Automotive” segment increased by 18,024 million yen or 5.8 %, year on year, to 331,207 million yen due to an increase insales in all regions except China, and an impact of exchange rate fluctuations. Business profit decreased by 2,727 million yen or 35.0 %,year on year, to 5,075 million yen mainly due to a decrease in selling price level and an impact of higher material and labor costs, despite afavorable impact of exchange rate fluctuations and effect of cost reductions.
Revenue of “Industrial and bearings” segment decreased by 1,163 million yen or 1.3 %, year on year, to 88,626 million yen due to adecrease in sales in Japan and China. Business profit decreased by 2,067 million yen or 63.3 %, year on year, to 1,197 million yen mainly
due to a decrease in revenue and an impact of higher labor costs, despite a favorable impact of exchange rate fluctuations and effect of cost
reductions.
Revenue of “Machine tools” segment increased by 1,515 million yen or 3.5 %, year on year, to 44,223 million yen due to an increase insales, especially in North America. However, business profit decreased by 651 million yen or 23.6 %, year on year, to 2,105 million yen.

(2) Explanation for financial position
Assets amounted to 1,667,792 million yen, an increase by 39,277 million yen from the end of the previous fiscal year, mainly due to anincrease in “Inventories”, and “Other financial assets” by the mark-to-market valuation of investment securities.
Liabilities amounted to 803,598 million yen, a decrease by 2,145 million yen from the end of the previous fiscal year, mainly due to adecrease in “Bonds and borrowings” despite an increase in “Deferred tax liabilities”.
Equity amounted to 864,194 million yen, an increase by 41,423 million yen from the end of the previous fiscal year, mainly due to record“Profit attributable to owners of the parent company” and an increase in “Other components of equity”.

(3) Explanation for forecast of consolidated financial result
No revisions have been made to the consolidated earnings forecast announced on April 26, 2024.
The exchange rate assumption is 148 yen to the U.S. dollar and 162 yen to the euro (after the second quarter, 145 yen to the U.S. dollar
and 160 yen to the euro).

－2－2. Condensed quarterly consolidated financial statements and main notes(1) Condensed quarterly consolidated statement of financial position(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and cash equivalents

167,019

167,669

Trade and other receivables

360,180

356,620

Inventories

267,057

281,050

Other financial assets

2,914

4,110

Income tax receivable

4,954

1,296

Other current assets

3,350

4,078

Total current assets

805,476

814,825

Property, plant and equipment

476,426

482,810Goodwill and Intangible assets

49,96749,652Other financial assets

192,529

213,954

Investments accounted for using equity method

15,71816,415

Deferred tax assets

18,605

19,448Other non-current assets

69,78970,684

Total non-current assets

823,038

852,966

1,628,514

1,667,792

Non-current assets

Total assets－3－

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables

388,909

389,074

Bonds and borrowings

61,12750,692Other financial liabilities

3,661

5,509

Income taxes payable

6,501

7,106

Provisions

9,963

10,227

Other current liabilities

12,057

7,751

Total current liabilities

482,220

470,361

Bonds and borrowings

180,820

182,935

Other financial liabilities

13,18416,301Retirement benefit liabilities

71,04471,717

159

163

Deferred tax liabilities

49,69153,580

Other non-current liabilities

8,621

8,538

Total non-current liabilities

323,522333,236805,743

803,598

Capital stock

45,59145,591

Capital surplus

102,534

102,532

Treasury stock

(396)

(380)

Other components of equity

72,791

91,990Retained earnings

568,463

588,948

Equity attributable to owners of the parent company

788,984

828,683

Non-controlling interests

33,78635,510Total equity

822,770864,194

1,628,514

1,667,792

Non-current liabilities

Provisions

Total liabilities
EquityTotal liabilities and equity－4－(2) Condensed quarterly consolidated statement of profit or loss andcondensed quarterly consolidated statement of comprehensive income
Condensed quarterly consolidated statement of profit or loss
(Millions of yen)Three months ended
June 30, 2023

Three months ended
June 30, 2024

Revenue

445,681464,057

Cost of revenue(380,957)(400,301)

Gross profit

64,72463,755

Selling, general and administrative expenses(50,743)(55,185)

Business profit

13,9808,570

Other income

6,472

4,112

Other expenses(1,597)(1,537)

Operating profit

18,854

11,144

Finance income

10,01910,045

Finance costs(3,980)(4,747)

46

316

Profit before income taxes

24,94016,758

Income tax expense(9,316)(5,177)

Profit for the period

15,624

11,581

14,983

10,813640

767

Basic (Yen)

43.69

31.53

Diluted (Yen)

43.67

31.51

Share of profit of investments accounted for using equity
methodAttributable to
Owners of the parent company
Non-controlling interests

Earnings per share－5－Condensed quarterly consolidated statement of comprehensive income(Millions of yen)Three months ended
June 30, 2023
Profit for the period

Three months ended
June 30, 2024

15,624

11,581

11,362

16,201Remeasurements of defined benefit pension plans

474

441

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

211

3

12,048

16,64623,89520,363326

455

24,221

20,819Total other comprehensive income

36,27037,465Comprehensive income for the period

51,89449,046

Owners of the parent company

49,98946,661

Non-controlling interests

1,904

2,384

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

Attributable to－6－(3) Condensed quarterly 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, 2023

Capital surplus

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

Treasury stock

45,591

107,103

(416)

－

－

39,177

－

－

－

－

－

－

45,591

107,103

(416)

－

－

39,177

－

－

－

－

－

－

－

－

－

11,298739

22,967－－－

11,298739

22,967

Acquisition of treasury stock

－

－

(0)

－

－

－

Disposal of treasury stock

－

(0)

0

－

－

－

Dividends

－

－

－

－

－

－

Share-based payment transactions

－

(3)

24

－

－

－

Transfer to retained Earnings

－

－

－

(11,298)(739)－

Changes in the ownership interest in
subsidiaries without a loss of control－(3,711)

－

－

－

－

Total transactions with the owners－(3,715)23(11,298)(739)－

As of June 30, 2023

45,591

103,388

(392)

－

－

62,144As of April 1, 2024

45,591

102,534

(396)

－

－

72,791

－

－

－

－

－

－

45,591

102,534

(396)

－

－

72,791

－

－

－

－

－

－

－

－

－

16,197451

19,198－－－16,197451

19,198Acquisition of treasury stock

－

－

(0)

－

－

－

Disposal of treasury stock

－

－

－

－

－

－

Dividends

－

－

－

－

－

－

Share-based payment transactions

－

(2)

16

－

－

－

Transfer to retained Earnings

－

－

－

(16,197)(451)－

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

－

－

－

－

－

－

Total transactions with the owners

－

(2)

16

(16,197)(451)－

45,591

102,532

(380)

－

－

91,990

Increase (decrease) based on
inflation accounting of subsidiarythat is consolidated and located inArgentina
As of April 1, 2023 (adjusted)
Profit for the period
Other comprehensive income
Comprehensive
periodincomefortheIncrease (decrease) based on
inflation accounting of subsidiarythat is consolidated and located inArgentina
As of April 1, 2024 (adjusted)
Profit of the period
Other comprehensive income
Comprehensive
periodAs of June 30, 2024

income

for

the

－7－

(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, 2023

39,177475,777

667,234

33,501

700,735

－

(199)

(199)

－

(199)

39,177475,578

667,035

33,501

700,536－

14,983

14,983640

15,62435,005－35,005

1,264

36,27035,005

14,98349,9891,904

51,894

Acquisition of treasury stock

－

－

(0)

－

(0)

Disposal of treasury stock

－

－

0

－

0

Dividends－(6,517)(6,517)(1,163)(7,680)Share-based payment transactions

－

－

20

－

20

(12,038)

12,038

－

－

－

－

－

(3,711)(450)(4,161)(12,038)

5,521(10,209)(1,613)(11,822)

As of June 30, 2023

62,144

496,084

706,815

33,792740,608

As of April 1, 2024

72,791

568,463

788,984

33,786

822,770

－

(116)

(116)

－

(116)

72,791

568,346

788,868

33,786

822,654－

10,813

10,813

767

11,58135,847－35,847

1,617

37,46535,847

10,813

46,661

2,384

49,046

Acquisition of treasury stock

－

－

(0)

－

(0)

Disposal of treasury stock

－

－

－

－

－

Dividends－(6,860)(6,860)(660)(7,520)Share-based payment transactions

－

－

14

－

14

(16,649)

16,649

－

－

－

－

－

－

－

－

(16,649)

9,788(6,846)(660)(7,506)91,990588,948

828,683

35,510864,194

Increase (decrease) based on
inflation accounting of subsidiarythat is consolidated and located inArgentina
As of April 1, 2023 (adjusted)
Profit for the period
Other comprehensive income
Comprehensive
periodincomefortheTransfer to retained Earnings
Changes in the ownership interest in
subsidiaries without a loss of control
Total transactions with the owners

Increase (decrease) based on
inflation accounting of subsidiarythat is consolidated and located inArgentina
As of April 1, 2024 (adjusted)
Profit of the period
Other comprehensive income
Comprehensive
periodincomefortheTransfer to retained Earnings
Changes in the ownership interest in
subsidiaries without a loss of control
Total transactions with the owners
As of June 30, 2024－8－

(4) Condensed quarterly consolidated statement of cash flows(Millions of yen)Three months ended
June 30, 2023

Three months ended
June 30, 2024

Cash flows from operating activities
Profit before income taxes

24,94016,758Depreciation and amortization

16,943

17,785

13

792

Finance costs (income)

(144)

(639)

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

(46)

(316)

(5,684)(46)

Increase (Decrease) in retirement benefit liabilities

(51)

(459)

Decrease (Increase) in retirement benefit assets

(137)

(226)

Decrease (Increase) in inventories(2,402)(4,574)

Net decrease (increase) in trade and otherReceivables

6,109

12,905

Net increase (decrease) in trade and other Payables

12,534(4,192)Other(3,291)(7,488)Subtotal

48,78230,298Interest received

612

473

Dividends received

1,052

1,333

Interest paid

(2,264)(1,224)

Income taxes paid

(6,537)(4,702)

Net cash provided by (used in) operating activities

41,644

26,179(15,360)(18,797)

280

2,508

(19,409)(599)

Payment of purchases of investment securities

(328)

(0)

Proceeds from sales of investment securities

－

7,286

Other

565

(260)

(34,252)(9,862)

Impairment losses

Net increase (decrease) in provisions

Cash flows from investing activities
Payment of Purchases of property, plant andequipment
Proceeds from sales of property, plant andequipment
Purchases of intangible assets

Net cash provided by (used in) investing activities－9－

(Millions of yen)Three months ended
March 31, 2023

Three months ended
March 31, 2024

Cash flows from financing activities
Net increase (decrease) in short-term Borrowings
Proceeds from long-term borrowings
Repayment of long-term borrowings

21,428

2,711

23

－

(456)

(15,121)

Dividends paid

(6,517)(6,860)

Dividends paid to non-controlling interests(1,163)(660)

Payment of acquisition of subsidiaries' stock notresulting in change in scope of consolidation(3,896)

－

Other

(640)

(713)

Net cash provided by (used in) financing activities

8,776(20,644)

Foreign currency translation adjustments on cash andcash equivalents

4,749

4,976

Net increase (decrease) in cash and cash equivalents

20,917649

Cash and cash equivalents at beginning of year

123,850

167,019

Cash and cash equivalents at end of year

144,768

167,669－10－

(5) Note on condensed quarterly consolidated financial statements(Assumption of going concern)
There are no applicable items.
(Segment information)① Outline of reportable segments
The Group's reportable segments are components of an entity for which separate financial information is available.
Such information is evaluated regularly by the board of directors for the purpose of making decisions on how toallocate resources and assessing performance.
The Group establishes Business Headquarter by market. Each Business Headquarter develops a domestic andoverseas comprehensive strategy about products and services handled and has developed business activities.
Therefore, the Group is composed of segments by market, by service based on Business Headquarters, the Group
determined that “Automotive”, “Industrial and bearings” and “Machine tools” are its reportable segments.
“Automotive” segment consolidates two business segments, “steering systems” and “drivelines” due to thesimilarity of their economic characteristics such trends in revenue.
“Automotive” segment mainly manufactures and sells products for automotive industry as steering systems anddrivelines.
“Industrial and bearings” segment mainly manufactures and sells bearings for industrial machinery.
“Machine tools” segment mainly manufactures and sells machine tools, control machine, and industrial heat
treatment furnace.
② Information about reportable segments
Intersegment revenues and transfers of intersegment transactions are based on market price. Reportable segment
profit is measured on the basis of business profit in the consolidated statement of profit or loss.
Business profit is the profit or loss arising from the operating activities of each reportable segment. Operatingtransactions are aggregated in accordance with the managerial accounting categories, and headquarter expenses
are allocated to reportable segments by the accounting department in an appropriate method.

－11－For the three months ended June 30, 2023
(Millions of yen)
Reportable segment
Automotive

Industrial andMachine tools
bearings

Total

Adjustments

Consolidated

Revenue
Customers
Intersegment
Total
Segment profit (loss)

313,183

89,78942,708445,681－445,681

976

5,655

6,427

13,059(13,059)－

314,159

95,445

49,136

458,740(13,059)445,681

7,803

3,264

2,757

13,825154

13,980

Other income

6,472

Other expenses(1,597)

Operating profit

18,854

Finance income

10,019Finance costs(3,980)Share of profit of investments accounted for using equity method

46

Profit before income taxes

24,940(Note) “Adjustments” of segment profit (loss) is the elimination of inter-segment transactions.
For the three months ended June 30, 2024
(Millions of yen)
Reportable segment
Automotive

Industrial andMachine tools
bearings

Total

Adjustments

Consolidated

Revenue
Customers
Intersegment
Total
Segment profit (loss)

331,207

88,62644,223464,057－

464,057

893

4,769

5,855

11,518(11,518)－

332,101

93,39550,078475,576(11,518)

464,057

5,075

1,197

2,105

8,379

190

8,570

Other income

4,112

Other expenses(1,537)

Operating profit

11,144

Finance income

10,045

Finance costs(4,747)

Share of profit of investments accounted for using equity method
Profit before income taxes

316
16,758(Note) “Adjustments” of segment profit (loss) is the elimination of inter-segment transactions.
－12－