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, 2023
(Under IFRS)DATE: October 31, 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:
November 27, 2023
Scheduled date to file quarterly securities report (Japanese only):
November 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 six months ended September 30, 2023
(from April 1, 2023 to September 30, 2023)(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, 2023

922,23114.6

31,534

74.6

41,51757.1

24,43774.7

September 30, 2022

804,57621.1

18,055

16.4

26,431

48.6

13,985

74.1

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%

September 30, 2023

23,11488.974,425

89.7

67.39

Yen

67.36

Yen

September 30, 2022

12,23380.7

39,235

75.0

35.67

35.65

(2) Consolidated financial position
Total assets
As ofTotal equity

Equity attributable toowners of the parentcompany

Ratio of equity
attributable to owners ofthe parent company tototal assets

Millions of yen

Millions of yen

Millions of yen%

September 30, 2023

1,564,736

760,140

728,038

46.5

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 ended

March 31, 2023
Fiscal year ended

March 31, 2024

Yen－

11.00

－

16.00

Fiscalyear-end

Third quarter-end
Yen

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: Yes
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: Yes

Basic 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 September 30, 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 September 30, 2023

295,923 shares

As of March 31, 2023

311,980 shares(iii) Average number of shares outstanding during the period
Six months ended September 30, 2023

342,983,238 shares

Six months ended September 30, 2022

342,970,191 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 September 30, 2023

AssetsCurrent assets
Cash and cash equivalents

123,850

162,906

Trade and other receivables

350,366

357,865

Inventories

247,587

259,033

Other financial assets

3,548

2,565

Income tax receivable

4,960

5,130

Other current assets

4,986

7,006

Total current assets

735,299794,508

Property, plant and equipment

466,972

481,046

Goodwill and Intangible assets

32,32351,078Other financial assets

139,163

166,887

Investments accounted for using equity method

13,964

14,921

Deferred tax assets

17,63018,899Other non-current assets

36,00037,393

Total non-current assets

706,055

770,227

1,441,355

1,564,736

Non-current assets

Total assets

(Millions of yen)
As of March 31, 2023

As of September 30, 2023

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables

346,599

376,034

Bonds and borrowings

47,52956,147

Other financial liabilities

3,584

5,167

Income taxes payable

3,993

5,402

Provisions

18,865

15,403

Other current liabilities

7,182

6,821

Total current liabilities

427,755

464,977

Bonds and borrowings

207,640

214,652

Other financial liabilities

8,308

11,573Retirement benefit liabilities

70,55672,254

119

129

Deferred tax liabilities

18,41032,913

Other non-current liabilities

7,827

8,094

Total non-current liabilities

312,864

339,618

740,619804,595

Capital stock

45,59145,591

Capital surplus

107,103103,308

Treasury stock

(416)

(393)

Other components of equity

39,177

67,103Retained earnings

475,777

512,428

Equity attributable to owners of the parent company

667,234

728,038

Non-controlling interests

33,501

32,102

Total equity

700,735

760,140

1,441,355

1,564,736

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, 2022

Six months ended
September 30, 2023

Revenue

804,576922,231

Cost of revenue(692,439)(795,243)

Gross profit

112,137

126,987

Selling, general and administrative expenses(94,081)(95,453)

Business profit

18,05531,534

Other income

2,919

9,034

Other expenses(2,152)(5,945)

Operating profit

18,822

34,623Finance income

11,991

12,980Finance costs(4,710)(6,339)327

253

Profit before income taxes

26,431

41,517

Income tax expense(12,446)(17,080)

Profit for the period

13,98524,437

Owners of the parent company

12,233

23,114Non-controlling interests

1,751

1,323

Basic (Yen)

35.67

67.39

Diluted (Yen)

35.65

67.36

Share of profit of investments accounted for using equity
methodAttributable toEarnings per shareConsolidated Statement of Comprehensive Income(Millions of yen)Six months ended
September 30, 2022
Profit for the period

Six months ended
September 30, 2023

13,98524,437(2,614)

19,374Remeasurements of defined benefit pension plans

168

642

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

17244(2,428)20,261

26,48828,996

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

1,189

730

Total

27,67829,726

Total other comprehensive income

25,25049,987

Comprehensive income for the period

39,23574,425

Owners of the parent company

35,32371,292

Non-controlling interests3,912

3,132

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, 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

Profit for the period

－－－

－

－

－

Other comprehensive income－－－(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)

－

As of September 30, 2022

45,591

107,851

(414)

－

－

52,764As of April 1, 2023

45,591

107,103

(416)

－

－

39,177

－

－

－

－

－

－

45,591

107,103

(416)

－

－

39,177

Profit of the period

－

－

－

－

－

－

Other comprehensive income

－

－

－

19,333918

27,925－－－

19,333918

27,925Acquisition of treasury stock

－

－

(1)

－

－

－

Disposal of treasury stock

－

(0)

0－－－

Dividends

－－－－－

－

Share-based payment transactions

－(3)

24－

－

－

Transfer to retained Earnings－－－(19,333)(918)－

Changes in the ownership interest insubsidiaries without a loss of control－(3,791)－－－－

Total transactions with the owners－(3,795)

22(19,333)

(918)

－

45,591

103,308

(393)

－

－

67,103

Increase (Decrease) based on
inflation accounting of Argentina
consolidated subsidiary
As of April 1, 2022 (adjusted)

Comprehensive
periodincomefortheIncrease (Decrease) based on
inflation accounting of Argentina
consolidated subsidiary
As of April 1, 2023 (adjusted)

Comprehensive
periodincomeAs of September 30, 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

－

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－

1111(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)

As of September 30, 2022

52,764450,845656,638

35,921

692,560

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－

23,114

23,114

1,323

24,437

48,178－48,1781,809

49,987

48,178

23,11471,292

3,132

74,425Acquisition of treasury stock

－－

(1)

－

(1)

Disposal of treasury stock

－－

0－

0

Dividends－(6,517)(6,517)(3,146)(9,663)

Share-based payment transactions

－－

20

－

20

(20,252)

20,252

－

－

－

－

－

(3,791)(1,385)(5,176)(20,252)

13,735(10,289)(4,531)(14,821)67,103

512,428

728,038

32,102

760,140

Increase (Decrease) based on
inflation accounting of Argentina
consolidated subsidiary
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 Argentina
consolidated subsidiary
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 September 30, 2023

Segment information
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)－

545,146

183,347

97,888826,382(21,805)

804,576

3,954

7,078

6,450

17,483572

18,055

Total
Segment profit (loss)
Other income

2,919

Other expenses(2,152)

Operating profit

18,822Finance income

11,991

Finance costs(4,710)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.

327
26,431

For the six months ended September 30, 2023
(Millions of yen)
Reportable segment
Automotive

Industrial andMachine tools
Bearings

Total

Adjustments

Consolidated

Revenue
Customers

649,830

180,996

91,403922,231－922,231

Intersegment

1,458

11,136

12,096

24,692(24,692)－

651,289

192,133

103,500

946,923(24,692)922,231

17,565

7,621

6,339

31,526

7

31,534

TotalSegment profit (loss)
Other income

9,034

Other expenses(5,945)

Operating profit

34,623Finance income

12,980Finance costs(6,339)

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.

253
41,517