Earning Presentation
for Three months ended June 30, 2024

August 13, 2024

Contents

Earning Presentation for Three months ended June 30, 2024
Financial Results

p4

Result by Business Segments

p5

Watchesp6

Machine Tools

p 11

Devices and Components

p 132

Financial Results for 1Q of FY 2024

3

Financial Results for 1Q of FY 2024
1Q (Apr.-Jun.)（billions of yen)

FY2023

FY20241Q(Apr-Jun)

1Q(Apr-Jun)

ResultResult

YoY Change
Amount％Net sales

72.6

75.8+ 3.1+4.4%

Operating profit

5.54.6( 0.8 )

( 15.4% )Operating margin

7.6%

6.2%

--

Ordinary Profit

8.0

7.3

( 0.6 )

( 8.2% )

6.2

8.5

+ 2.2

+36.0%¥135/USD¥155/USD¥147/EUR¥167/EUR

Profit attributable toowners of parent

Exchange rate

* A gain on sale of investment securities of approx. 4.8 billion yen
4Financial results by Business Segments for 1Q of FY 2024

Net sales(billions of yen)

FY2023

FY20241Q(Apr-Jun)

1Q(Apr-Jun)

ResultResult

YoY Change
Amount％Watches

37.0

41.1+ 4.0

+10.9%

Machine Tools

19.5

17.9

( 1.6 )

( 8.2% )Devices and Components

10.8

10.5

( 0.3 )

( 3.6% )Electronic and Other Products

5.2

6.3+ 1.1+21.8%

Consolidated Total

72.6

75.8+ 3.1

+4.4%

Operating Profit(Unit: billion yen, %:operating margin)

Watches
Machine Tools
Devices and Components
Electronic and Other Products
Eliminations or general corporate

Consolidated Total

4.5

3.6

12.2%

8.9%

2.3

1.3

12.0%

7.3%

0.0

0.4

0.4%

4.0%

0.1

0.8

2.9%

13.6%

( 1.5 )

( 1.5 )

5.5

4.6

7.6%

6.2%

( 0.8 )

( 19.7% )( 1.0 )( 43.9% )+ 0.3+770.1%+ 0.7+476.1%+ 0.0-( 0.8 )( 15.4% )Business Segments

Results

 Watches

Sales increased andprofit decreased

 Machine Tools

Sales and profit
decreased Device andComponents

Sales decreased andprofit increased Electronic andOther Products

Sales and profit
increased

5

Watches （Operating Performance)
1Q (Apr.-Jun.)

Sales increased and profit decreased Finished watch
Sales

In the domestic market, sales of key brands remained strong and demand fromforeign visitors in Japan increased. Among overseas market, Sales in China declined
largely due to the weakening market, but the European and American markets
remained strong and sales of finished products as a whole increased.

 Movement Sales

Sales increased, reflecting the strong performance of value-added products,
centered on mechanical movements.

Net Sales (billions of yen)

Operating Profit (millions of yen) and Margin (%)■FY2023 ■FY2024■FY2023 ■FY2024

6

Watches Net sales growth rate by region
Rate of change year on year

Sales by region
Region JapanNet Sales
growth YoYDetails

Increased

Sales of core brands such as ATTESA
and xC and also premium brands
such as The CITIZEN increased.
Demand from foreign visitors in Japangrew.

 Asia*Chinaincluded

Sales in China significantly fell due toweakening market.
Decreased America

Slightly
Decreased Europe

Increased

Some markets such as Thailand
appeared to be trending toward arecovery.
Sales at jewelry chain stores anddepartment stores remained strong.
Purchase adjustments were made intravel distribution.
The solid performance recorded
mainly in the UK and Italy.

7Medium-term Management Plan 2024 Activities Watches Key StrategiesPremium brands and mechanical watches strategy
The CITIZEN

100th Anniversary of the First CITIZEN Watch Limited Edition Model

Eco-Drive with Annual Accuracy ±5 Seconds

The case and band use Super Titanium™, a light scratch-resistant material.

A model with a creative dial featuring indigo Japanese paper made using the pole-wrap shibori techniqueRelease date: May 28, 2024
Recommended retail price: 462,000 yen (tax included)
Limited to 600 pieces worldwide

8Medium-term Management Plan 2024 Activities Watches Key Strategies

Global Brand Strategy for the CITIZEN Brand
PROMASTER

35th ANNIVERSARY LIMITED EDITIONSLimited MARINE, SKY and LAND models are being released in succession

1st: MECHANICAL DIVER 200m which is the successor to the Challenge Diver design
2nd: Eco-Drive RADIO-CONTROLLED that evokes the midnight sun
3rd: Eco-Drive COMBINATION WATCH equipped with the newly developed caliber

MECHANICAL DIVER 200ｍ
Release date: June 6, 2024
Recommended retail price: 143,000 yen (tax included)
Limited to 4,500 pieces worldwide

Eco-Drive RADIO-CONTROLLED
Release date: August 9, 2024
Recommended retail price: 121,000 yen (tax included)
Limited to 5,600 pieces worldwide

Eco-Drive COMBINATION WATCH
Release date: October 10, 2024
Recommended retail price: 154,000 yen (tax included)
Limited to 5,900 pieces worldwide

9Watches: Topics
Core Brands in the Domestic, Middle Price Range Market


ATTESA

Powerful, lightweight, and sophisticated design. Significant contribution to strong domestic sales

xC

Top selling women’s watch brand for ten consecutive years
Continues to grow as our main brand in Japan

It is the number one choice because its
functionality and design are suited for anyoccasion.
ATTESA was the best-selling* men’s titanium watch brand in
the domestic middle price range market in 2023.
*Among men’s titanium watch brands priced from 50,000 yen to 300,000 yen (excluding smartwatches)
Based on sales volume at retailers (both physical and online stores) in Japan in 2023
Based on research conducted by Euromonitor International in April and May 2024

Best-selling. Number one choice
Since its release in 1996, xC (Cross C) has been the choice of
women seeking a really good watch.
This year is the 10th consecutive year in which xC has been
the best-selling* women’s watch brand in the domesticmarket.
Quality, beauty and functionality
We will continue to polish this value forever.
*Among women’s watch brands priced 30,000 yen to 100,000 yen (excluding smartwatches)
Based on sales volume at retailers (both physical and online stores) in Japan in 2023
Based on research conducted by Euromonitor International in April and May 202410

Machine Tools （Operating Performance)
1Q (Apr.-Jun.)

Sales and profit decreased Domestic market

Sales decreased due to a lack of recovery of automobile-related products in response
to ongoing restraint on capital spending.

 Overseas markets

Sales decreased due to a limited appetite for capital expenditures for products otherthan medical-related products in the American and European markets, Chinese
market despite sales increase, and absence of signs of recovery in other Asia markets.

Net Sales (billions of yen)

Operating Profit (millions of yen) and Margin (%)■FY2023 ■FY2024■FY2023 ■FY2024

11

Machine Tools Changes in monthly orders received (units)
Rate of change year on year (three-months moving average of the numbers of units in orders received)

Number of products ordered in the first quarter by region (year-on-year comparison)● Total+12%● Japan(87%)

Significantly decreased due to a decrease in inquiries due to the sluggish market and a reactionary
fall from the last-minute surge before the price increase in March● Asia+95%

Significantly increased due to strong sales in India and promotion of orders in China by government
subsidies● America+71%

Increased mainly in medical-related products● Europe(18%)

Remained low due to a limited appetite for capital expenditures as a result of the entire European
market continuing to be sluggish

12Devices and Components（Operating Performance)
1Q (Apr.-Jun.)

Sales decreased and profit increased

 Auto Components

Sales increased due to strong results in overseas markets despite the impact ofdomestic market trends.

 Small Motors

Net sales remained at the level of the previous year because of the solid performanceof medical-related products in particular.

 Other Devices

Sales of quartz devices and opto-devices decreased due to low demand.

Net Sales (billions of yen)

Operating Profit (millions of yen) and Margin (%)■FY2023 ■FY2024■FY2023 ■FY202413Reference

FY 2024 Forecasts
FY 2024 Forecasts
FY2023 Result（Unit：billion yen)

1H(Apr-Sep)

Full Year

1H(Apr-Sep)

Full YearNet sales

152.9

312.8

151.0

Operating profit

13.525.0

Operating margin

8.9%

Ordinary Profit
owners of parent

Exchange rate

Full Year

1H

Full Year

310.0( 1.9 )

( 2.8 )

( 1.3% )( 0.9% )

11.0

23.0

( 2.5 )

( 2.0 )

( 18.8% )( 8.2% )

8.0%

7.3%

7.4%----

17.4

30.8

12.2

25.5

( 5.2 )

( 5.3 )

( 30.0% )( 17.2% )

13.3

22.9

12.5

22.0

( 0.8 )

( 0.9 )

( 6.6% )( 4.2% )¥139/USD¥144/USD¥145/USD¥145/USD¥152/EUR¥156/EUR¥155/EUR¥155/EUR

Dividends Forecasts

％1H

Profit attributable toAmountFY2024 Forecast

Dividends per share 45yen (Full year)（Second quarter 22.5 yen / Year-end 22.5yen）
An increase of 5 yen from the previous year

Exchange rate impact(1 weaker yen, Annual)

USD

EUR

Net sales

+0.65

+0.3

Operating profit+0.2+0.15(Unit：billion yen)15

Reference

FY 2024 Forecast by Business Segment
FY2023 Result

Net sales(Unit：billion yen)

1H(Apr-Sep)

FY2024 Forecast

Full Year

1H(Apr-Sep)

Full Year

Amount％1H

Full Year

1H

Full Year

Watches

78.5

166.2

82.0

171.5

+ 3.4+ 5.2＋ 4.4%＋ 3.2%

Machine Tools

41.4

81.6

36.0

73.0

( 5.4 )

( 8.6 )

( 13.1% )( 10.6% )Devices and Components

22.1

42.4

21.3

42.5

( 0.8 )

+ 0.0

( 4.0% )＋ 0.0%

Electronic and Other Products

10.7

22.5

11.7

23.0

+ 0.9

+ 0.4

＋ 8.5%＋ 2.2%

152.9

312.8

151.0310.0( 1.9 )

( 2.8 )

( 1.3% )( 0.9% )

10.2

19.8

10.2

20.5

13.0%

11.9%

12.4%

12.0%

+ 0.0

+ 0.6

( 0.0% )＋ 3.3%

5.2

9.0

2.8

6.6

12.6%

11.1%

7.8%

9.0%

( 2.4 )

( 2.4 )

( 46.4% )( 26.9% )

0.4

0.4

0.4

0.8

1.8%

1.1%

1.9%

1.9%

+ 0.0

+ 0.3

＋ 0.0%＋ 72.8%

0.6

1.5

0.8

1.5

6.3%

7.1%

6.8%

6.5%

+ 0.1

+ 0.0

＋ 18.5%( 5.5% )( 2.9 )

( 5.8 )

( 3.2 )( 6.4 )( 0.2 )

( 0.5 )

--

13.5

25.0

11.0

23.0

8.9%

8.0%

7.3%

7.4%

( 2.5 )

( 2.0 )

( 18.8% )( 8.2% )Consolidated Total
Operating Profit(Unit: billion yen, %:operating margin)

Watches
Machine Tools
Devices and Components
Electronic and Other Products
Eliminations or general corporate

Consolidated Total

16