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, 2023
(Under IFRS)DATE: February 2, 2024
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, 2024
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, 2023
(from April 1, 2023 to December 31, 2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Revenue
Nine months ended

Profit before incometaxes

Business profit

Profit for the period

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

December 31, 2023

1,411,827

15.3

54,55970.0

61,203

66.6

38,897

86.7

December 31, 2022

1,224,909

19.9

32,10027.1

36,743

32.4

20,836

67.5

Profit attributable toowners of the parentcompany
Nine months ended

Comprehensive income
for the period

Basic earnings
per share%

Diluted earnings
per share

Millions of yen%

Millions of yen

YenYenDecember 31, 2023

36,41198.676,124

200.4

106.16106.11

December 31, 2022

18,33280.9

25,337(37.2)

53.45

53.43

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

Total equity
Millions of yen

Equity attributable toowners of the parentcompany

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

Millions of yen%

December 31, 2023

1,529,939

755,023

723,417

47.3

March 31, 2023

1,441,355

700,735

667,234

46.3

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarterend

Yen
Fiscal year endedMarch 31, 2023
Fiscal year ending

March 31, 2024

Fiscalyear-end

Third quarter-end

YenYen－

11.00

－－

16.00

－

Fiscal year ending

March 31, 2024 (Forecast)

Total
YenYen

19.00

30.00

20.00

36.00

(Note) Changes in the forecasted cash dividends in this quarter: No
3. Forecast of consolidated financial results for the year ending March 31, 2024
(from April 1, 2023 to March 31, 2024)(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%

1,850,000

10.2

80,00027.7

76,00036.0

40,00016.7(Note) Changes in the forecast of consolidated financial results in this quarter: NoBasic earnings
per shareYen

116.62

*Notes(1) Changes in significant subsidiaries during the period(changes in specified subsidiaries resulting in the change in scope of consolidation): No(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, 2023

343,286,307 shares

As of March 31, 2023

343,286,307 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2023

296,678 shares

As of March 31, 2023

311,980 shares(iii) Average number of shares outstanding during the period
Nine months ended December 31, 2023

342,985,517 shares

Nine months ended December 31, 2022

342,971,849 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 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.

Consolidated financial statements(1) Consolidated Statement of Financial Position(Millions of yen)
As of March 31, 2023

As of December 31, 2023

AssetsCurrent assets
Cash and cash equivalents

123,850

163,242

Trade and other receivables

350,366

336,733

Inventories

247,587259,541

Other financial assets

3,548

2,997

Income tax receivable

4,960

5,879

Other current assets

4,986

8,533

Total current assets

735,299

776,929

Property, plant and equipment

466,972

469,833

Goodwill and Intangible assets

32,32349,988Other financial assets

139,163

160,874

Investments accounted for using equity method

13,964

15,267

Deferred tax assets

17,63019,177

Other non-current assets

36,00037,868

Total non-current assets

706,055

753,009

1,441,355

1,529,939

Non-current assets

Total assets

(Millions of yen)
As of March 31, 2023

As of December 31, 2023

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables

346,599

369,543

Bonds and borrowings

47,52955,781Other financial liabilities

3,584

4,692

Income taxes payable

3,993

4,487

Provisions

18,865

14,776

Other current liabilities

7,182

6,362

Total current liabilities

427,755

455,642

Bonds and borrowings

207,640

195,094

Other financial liabilities

8,308

10,751Retirement benefit liabilities

70,556

72,604

119

129

Deferred tax liabilities

18,41031,360

Other non-current liabilities

7,827

9,333

Total non-current liabilities

312,864

319,273

740,619774,915

Capital stock

45,59145,591

Capital surplus

107,103102,809

Treasury stock

(416)

(394)

Other components of equity

39,17756,993Retained earnings

475,777

518,418

Equity attributable to owners of the parent company

667,234

723,417

Non-controlling interests

33,501

31,605

Total equity

700,735

755,023

1,441,355

1,529,939

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, 2022

Nine months ended
December 31, 2023

Revenue

1,224,909

1,411,827

Cost of revenue(1,050,315)(1,204,248)

Gross profit

174,594

207,578

Selling, general and administrative expenses(142,493)(153,018)

Business profit

32,10054,559Other income

4,426

9,771

Other expenses(3,410)(6,971)

Operating profit

33,11657,360Finance income

7,028

10,412Finance costs(3,986)(7,055)585

487

Profit before income taxes

36,743

61,203

Income tax expense(15,906)(22,306)

Profit for the period

20,83638,897

Owners of the parent company

18,332

36,411

Non-controlling interests

2,504

2,486

Basic (Yen)

53.45

106.16

Diluted (Yen)

53.43

106.11

Share of profit of investments accounted for using equity
methodAttributable toEarnings per shareConsolidated Statement of Comprehensive Income(Millions of yen)
Nine months ended
December 31, 2022
Profit for the period

Nine months ended
December 31, 2023

20,83638,897(2,826)

17,449Remeasurements of defined benefit pension plans

254

717

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

28267(2,543)

18,433

6,018

18,014

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

1,026

778

Total

7,044

18,792

Total other comprehensive income

4,500

37,226Comprehensive income for the period

25,337

76,124

Owners of the parent company

22,72572,660Non-controlling interests

2,612

3,463

Other comprehensive income
Items that will not be reclassified subsequently to profitor 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, 2022

Capital surplus

Net fair value gain
Exchange(loss) on equity Remeasurements
differences oninstrumentsof defined benefit
translation ofdesignated aspension plansforeign operations
FVTOCI

Treasury stock

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 in
subsidiaries without a loss of control

－

217

－

－

－

－

Total transactions with the owners

－

213

15

2,841(302)－

As of December 31, 2022

45,591

107,851

(415)

－

－

34,186

As of April 1, 2023

45,591

107,103

(416)

－

－

39,177

－

－

－

－

－

－

45,591

107,103

(416)

－

－

39,177

－

－

－

－

－

－

－

－

－

17,4191,014

17,815－－－

17,4191,014

17,815Acquisition of treasury stock

－

－

(2)

－

－

－

Disposal of treasury stock

－

(0)

0－

－

－

Dividends

－

－

－－

－－

Share-based payment transactions

－

(3)

24－

－

－

Transfer to retained Earnings－－－(17,419)(1,014)－

Changes in the ownership interest in
subsidiaries without a loss of control－(4,289)－－－－Total transactions with the owners－(4,293)

21(17,419)(1,014)－45,591

102,809

(394)

－

－

56,993

Increase (Decrease) based on
inflation accounting of subsidiarythat is consolidated and located inArgentina
As of April 1, 2022 (adjusted)
Profit for the period
Other comprehensive income
Comprehensiveperiodincome

fortheIncrease (Decrease) based on
inflation accounting of subsidiarythat is consolidated and located inArgentina
As of April 1, 2023 (adjusted)
Profit of the period
Other comprehensive income
Comprehensiveperiod

incomeAs of December 31, 2023

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, 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－

11

11(53)(41)

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

－－

217

(5)

212

Total transactions with the owners

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

As of December 31, 2022

34,186452,870

640,084

34,049674,134

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－

36,411

36,411

2,486

38,89736,249－36,249976

37,22636,24936,411

72,6603,463

76,124

Acquisition of treasury stock

－

－

(2)

－

(2)

Disposal of treasury stock

－

－

0－

0

Dividends－(12,005)(12,005)(3,436)(15,442)

Share-based payment transactions

－

－

20

－

20

(18,434)

18,434

－

－－

－

－

(4,289)(1,923)(6,212)(18,434)

6,428(16,278)(5,359)(21,637)

56,993

518,418

723,41731,605755,023

Increase (Decrease) based on
inflation accounting of subsidiarythat is consolidated and located inArgentina
As of April 1, 2022 (adjusted)
Profit for the period
Other comprehensive income
Comprehensiveperiod

incomefortheTransfer to retained Earnings

Increase (Decrease) based on
inflation accounting of subsidiarythat is consolidated and located inArgentina
As of April 1, 2023 (adjusted)
Profit of the period
Other comprehensive income
Comprehensiveperiod

incomefortheTransfer to retained Earnings
Changes in the ownership interest in
subsidiaries without a loss of control
Total transactions with the owners
As of December 31, 2023

Segment information
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)－831,053

276,288

150,388

1,257,731(32,822)

1,224,909

10,167

10,871

10,256

31,295804

32,100TotalSegment profit (loss)
Other income4,426

Other expenses(3,410)Operating profit

33,116

Finance income

7,028

Finance costs(3,986)

Share of profit of investments
accounted for using equity
methodProfit before income taxes(Note) “Adjustments” of segment profit (loss) is the elimination of inter-segment transactions.

585
36,743

For the nine months ended December 31, 2023
(Millions of yen)
Reportable segment
Automotive

Industrial andMachine tools
Bearings

Total

Adjustments

Consolidated

Revenue
Customers
Intersegment
TotalSegment profit (loss)

1,002,630

270,059

139,136

1,411,827－1,411,827

2,296

16,234

17,96036,491(36,491)－

1,004,927

286,293

157,097

1,448,318(36,491)

1,411,827

34,0209,639

10,68754,346212

54,559Other income

9,771

Other expenses(6,971)

Operating profit

57,360Finance income

10,412Finance costs(7,055)

Share of profit of investments
accounted for using equity
methodProfit before income taxes(Note) “Adjustments” of segment profit (loss) is the elimination of inter-segment transactions.

487
61,203