Consolidated Financial Results (Tanshin)for the Nine Months Ended December 31, 2023 (Based on IFRS)
February 14, 2024
Name of listed company:CYBERDYNE, INC.
Stock code
:7779
Representative (title):President and CEO
Contact (title):Director and COO
Scheduled date for release of nine-month report
Additional materials for the financial results
Information meeting for the financial results

Stock exchange listing
URL
Name
Name
:February 14, 2024
:none
:none

:Growth Market of TSE:https://www.cyberdyne.jp/english:Yoshiyuki Sankai:Shinji Honda
Tel. +81-29-869-9981
Scheduled start of dividend payment:－(Millions of yen: Rounded to the nearest one million yen)
Ⅰ. Consolidated financial results for the nine months ended December 31, 2023 (April 1, 2023-December 31, 2023)

1. Consolidated result of operations(percentages denote year-on-year change)
Operating profit(loss)

Revenue％

Profit (loss) attributable toowners of parent％％

Profit (loss) before tax％

Apr.1-Dec. 31, 2023

3,219

35.6

(1,603)

－

(566)

－

(951)

－

Apr.1-Dec. 31, 2022

2,374

76.3

(749)

－

112

－

68

－

Apr.1-Dec. 31, 2023

Basic earnings (loss)
per shareYen(4.51)

Diluted earnings (loss)
per shareYen(4.51)

Apr.1-Dec. 31, 2022

0.32

0.32

2. Consolidated financial position
Total assets
Millions of yen

Ratio of equity attributable
Total equity attributable toto owners of the parent toowners of the parent
total assets
Millions of yen
Millions of yen％

Total equity

As of Dec. 31, 2023

50,34040,997

41,20981.9

As of March 31, 2023

50,187

41,983

42,101

83.9

Ⅱ. Dividends

End of
1st quarter(June.30)
Yen

Dividend payments for each term and the year
End of
End ofFiscal year end
2nd quarter3rd quarter(March.31)(September.30)(December.31)
Yen
Yen
Yen

Total

Yen
Fiscal year ended
0.00
0.00
0.00
－
－
March 31, 2023
Fiscal year ending
0.00－－
March 31, 2024
Notes:(ⅰ) Changes from the latest released dividend forecasts: none(ⅱ) The table of “Dividends” indicates dividend payments on Common Shares. Dividends on Class Share (non-listed) for which thenumber of share units differs from Common Shares are shown below as “Dividends on Class Shares”.

Ⅲ. Forecast of consolidated financial results for the fiscal year ending March 31, 2024 (April 1, 2023-March 31, 2024)

As the business of CYBERDYNE Inc. and its group companies (collectively referred to as the “Group”) is based on a new market
with innovative technologies, there are many uncertain factors that could have an impact on its performance and make it difficult
for CYBERDYNE Inc. (the "Company") to provide a forecast with accurate figures. As such the Company will not announce theforecast of consolidated financial results.
Notes:
1. Changes in key subsidiaries during the consolidated three month period (changes in specific subsidiaries resulting inchanges of consolidation scope): none
new: － (company name: － ) ,excluded: － (company name: － )2. Changes in accounting policies, accounting estimates, and restatement of error corrections(ⅰ) Changes in accounting policies required by IFRS : yes(ⅱ) Changes in accounting policies due to reasons other than (ⅰ) : none(ⅲ) Changes in accounting estimates: none
3. Total number of issued shares (Common Shares)(ⅰ) Total number of issued shares at the end of each period (including treasury shares)
As of December 31, 2023

215,145,809 shares

As of March 31, 2023

215,145,809 shares

As of March 31, 2023

4,011,673 shares(ⅱ) Total number of treasury shares at the end of each period
As of December 31, 2023

4,014,573 shares(ⅲ) Average number of shares during each three month period
Apr.1-December 31, 2023
211,131,236 shares
Apr.1-December 31, 2022
215,134,138 shares
Note: Class B Shares are ranked the same as Common Shares and paid the same amount as Common Shares withregard to dividends of surplus and distribution of residual assets. Therefore the total number of issued shares at
each end of period and the average number of shares during each period include Class B Shares as Common
Shares.

*This quarterly consolidated financial report is not subject to the quarterly review procedure by the scope of audit.

Dividends on Class Shares
Details of dividends on the Company’s class shares for which the number of share units differs from its Common Shares are as below.
End of
1st quarter(June.30)
Yen

Dividend payments for each term and the year
End of
End ofFiscal year end
2nd quarter3rd quarter(March.31)(September.30)(December.31)
Yen
Yen
Yen

Total

Yen
Fiscal year ended
0.00
0.00
0.00
－
－
March 31, 2023
Fiscal year ending
0.00－－
March 31, 2024
Note:
The Company issued Class B Shares which were accorded the same rights as its Common Shares with regard to dividends anddistribution of residual assets, but for which share units differ from Common Shares.

○ Contents of the Attached Material
1. Qualitative information regarding settlement of accounts for the nine months.…………………………………………………

2(1) Explanation of operating results.……………………………………………………………………………………………

2(2) Explanation of financial position……………………………………………………………………………………………

6(3) Status of cash flow..…………………………………………………………………………………………………………

6

2. Condensed quarterly consolidated financial statement (Unaudited) ……………………………………………………………

7(1) Condensed quarterly consolidated statement of financial position (Unaudited)……………………………………………

7(2) Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated statement ofcomprehensive income (Unaudited)...………………………………………………………………………………………..

9

Condensed year to quarter end consolidated statement of profit or loss……………………………………………………

9

Condensed quarter period consolidated statement of profit or loss…………………………………………………………

10

Condensed year to quarter end consolidated statement of comprehensive income...………………………………………

11(3) Condensed quarterly consolidated statement of changes in equity (Unaudited)……………………………………………

12(4) Condensed quarterly consolidated statement of cash flows (Unaudited)...…………………………………………………

14(5) Notes to condensed quarterly consolidated financial statements……………………………………………………………

15(Notes on premise of going concern) ………………………………………………………………………………………

15(Changes in accounting policy) .……………………………………………………………………………………………

15(Revenue) ..…………………………………………………………………………………………………………………

16

- 1 -

1. Qualitative information regarding the settlement of accounts for the nine months ended December 31, 2023
(1) Explanation of operating results
All forward-looking statements included in this explanation were determined reasonable by CYBERDYNE
Inc. (the “Company”) and its group companies (collectively referred to as the “Group”) based on currently
available information for the consolidated nine months ended December 31, 2023, and certain assumptions
made by the Group.

To solve various issues facing society, the Group will make full use of “Cybernics” (a new field that integrates
and combines human, robot, AI, and information systems) and handle HCPS (Human-Cyber-Physical Space)in a unified manner. Furthermore, through Cybernics, the Group promotes the realization of “Techno Peer
Support” and future development by creating the “Cybernics Industry,” a new industry that will follow the
robotics and IT industries.
The Group defines “Techno Peer Support Society” as a society in which people and technology coexist andmutually support each other, enabling people to maintain and manage their health even in old age and to
exercise their long-cultivated abilities to the fullest. A society where people can maintain a high degree of
independence and lead a life with a higher degree of freedom, even if their physical condition declines due todisease, accident, aging, or disability. To realize such a society and create a new industry based on Cybernics,
the Group is developing various Cybernics Technologies that improve, regenerate, expand, and support thewearer’s physical functions.
Status of business operation<<Business operation around the medical application>>
The Group continues its efforts to disseminate Cybernics Treatment, a treatment program using Medical HAL
systems that aims to induce improvement and regeneration of the functions of the brain, nerves, and muscles
into a global standard of treatment.
(Japan)The Group continues its efforts to disseminate Cybernics Treatment, a treatment program using Medical HAL.
Post-marketing surveillance on the Medical HAL Lower Limb Type Double-leg Model suggested a highefficacy and safety towards progressive neuromuscular diseases, for which no effective treatment methods areavailable in the medical world yet.
Regarding spinal cord-related diseases, the Japanese Minister of Health, Labor, and Welfare approved
additional indications of HTLV-1-associated myelopathy (HAM) and hereditary spastic paraplegia for HAL
on October 2022. A letter of announcement was published on the MHLW website stating the approval of
insurance coverage for treating those two diseases using Medical HAL on October 1, 2023. Regarding
traumatic spinal cord injuries, the Company is consulting with the regulators on the necessary steps to obtain
medical device approvals.
Regarding stroke, the Company discussed the result of the investigator-initiated clinical trial using theMedical HAL Lower Limb Type single-leg model (HIT2016 trial). Considering the practice conditions
surrounding acute stroke treatment and recovery rehabilitation, the Company is preparing additional studies(clinical trials) while consulting with the regulator.

- 2 -In addition, the University of Tsukuba Hospital started clinical trials to investigate the effect of HAL on
improving the physical functions of children affected by cerebral palsy in January 2022. The clinical trial iscurrently in progress. The Company has also developed a small Medical HAL Lower Limb Type model
equivalent to the device used in the clinical trial for cerebral palsy. The Company submitted paperwork to
obtain approvals from the PMDA (Pharmaceuticals and Medical Devices Agency) in June 2023 for the samegroup of patients as the larger size of Medical HAL Lower Limb Type.
(USA)
As a medical service platform for individual users, RISE Healthcare Group (RHG), the Company’s subsidiary,is gradually expanding the number of facilities in Southern California. In February 2023, RISE opened its firstcenter in northern California. As of December 31, 2023, RHG operates 28 centers (an increase of 12 centers
since the M&A by CYBERDYNE). HAL technology of CYBERDYNE is currently available in 4 locations,and RHG is expanding its official service with HAL to more centers starting from January 2023.
(EMEA: Mainly Europe and the Middle East)
The Group continues to promote Cybernics Treatment in the region. For example, a center that offers
Cybernics Treatment commenced in Türkiye. In addition, the Company exported 25 units of HAL to an ItalianSocial Company, Coopselios, in May 2023. The Company is planning to ship out additional units.
In Germany, the G-BA (German Federal Joint Committee), the public health insurance authority, hasannounced that it will conduct a clinical trial for spinal cord injury based on public health insurance coverage.

Related parties are making preparation for the trial.
(APAC: Asia Pacific)
CYBERDYNE MALAYSIA Sdn. Bhd. is working to disseminate Cybernics Treatment in a wide area ofSouth East Asia, India, Australia, and Taiwan.
The Group continues to strengthen its partnership with Malaysia’s government-affiliated Social Security
Organization (SOCSO). The collaboration resulted in increased access for Malaysian patients under the
SOCSO coverage, and the treatment is currently offered in eleven facilities through 109 income-generating
rental units as of the end of December 2023. Construction of the National Center for Neuro-Robotics andCybernics, the largest medical complex in Southeast Asia, is scheduled for completion by the end of 2024.
The Group expects to install significant numbers of HAL in this center.

<<Business operation around applications to support caregivers and care receivers>>
The Group has developed various types of HAL for seniors to improve their physical function, prevent illness
and frailty, and reduce the requirement for care. These include the HAL Lower Limb Type for enhancing theability to walk, the HAL Single Joint Type to train elbow, knee, and ankle movements, and the HAL Lumbar
Type to train the trunk and lower limb function.
(Service at facilities for individuals)
The Group continues to offer Neuro HALFIT, a program that induces improvement of the brain-nerve andmusculoskeletal system through utilizing HAL. The program is currently available at 17 Robocare Centers
operated by business partners. The Group plans to open additional Robocare Centers.

- 3 -(Neuro HALFIT at Home as a service towards individuals)
The Group offers Neuro HALFIT at Home as a contactless service to enable individuals to work out at homeusing HAL. The Group is working with home visiting service providers to promote in-person support, fromequipment setup to program implementation at home.

<<Prevention/early detection) >>The Group is preparing for the commercialization of the Cyvis series, an ultra-small size vital sensor designed
to manage the risk of arrhythmia and atrial fibrillation and prevent myocardial infarction, and stroke byaccumulating, analyzing, and processing various healthcare data such as cardiac activity, brain activity, bodytemperature, SpO2, and daily activities using its AI system. Cyvis also has an optional feature to measure
breathing conditions while sleeping, enabling easy yet highly accurate screening of risks of sleep apnea
syndrome. The Company submitted a medical device approval application for its next-generation model,
Cyvis 2, on April 2023.

<<Business operation around applications to support caregivers and carereceivers>>(Well-being)
Since 2021, the Group has been working closely with Hampshire County, England, on using HAL Lumbar
Type for Well-being in care facilities. In addition, the Group will coordinate with Hampshire County to use
this as a model example to disseminate the technology in other areas of the UK and other European nations.
(Labor Support, Disinfection, and Cleaning)
Regarding the next-generation Cleaning Robot CL02, which uses cutting-edge SLAM technology to achieve
high-speed autonomous driving, the Group works with major construction companies with its ability to ride onelevators automatically and connect with cloud systems; the companies are developing this technology as asolution to make building management smarter and reduce management costs. Furthermore, the company isexpanding its mobility part as a transportation robot inside the factory.
Status of Research and Development
The Group develops “Acoustic X,” a patented photoacoustic imaging system based on the LED light source

method that realizes real-time, high-resolution 3D imaging of blood vessels and blood in the peripheral organs
without needing contrast agents. The Group develops this technology as a next-generation medical image
diagnosis device. In addition, research is underway at prominent medical institutions and research facilities

overseas to create various applications for this technology.
The proposal of the Group was selected for the next Cross-ministerial Strategic Innovation Promotion
Program (SIP) Third Phase: Development of Fundamental Technologies, the Establishment of Common
Systems, Rules, and Regulation for the Expansion of Human Collaborative Robotics, Theme 6: Developmentof Social Implementation Technologies for HCPS* Integrated Human Collaborative Robotics to Solve Social
Issues” that is led by the Council for Science, Technology, and Innovation (the Cabinet Office of Japan).
Under this program, the Group will (i) develop an application for various living spaces such as residences,facilities, and workplaces, (ii) utilize HCPS-integrated Cybernics master remote control technology that works
together with human information (physiological, physical, behavioral, cognitive, psychological, etc.), (iii)
acquire and utilize human information obtained through non-invasive HCPS-integrated human-collaborative
robotics, and (iv) Establish links with other related technologies of the R&D theme to improve theindependence and freedom of seniors and people with limited access to transportation.

- 4 -Other research projects of the Group include cloth-type HAL for people with disabilities and seniors thatmaintain and improve the wearers’ walking ability. The Group is also developing a communication robot,
which obtains vital and environmental information while communicating with users to maintain and improvetheir ADL. A personal mobility robot is also under development to help those who have difficulty walking.

In addition, Cybernics Medical Innovation Base A building in the national strategic zone of Kawasaki City,
Japan, is completed. Starting in January 2023, partners in life science, such as regenerative medicine and drug
discovery, are moving into the facility. The Company will gradually continue to pick its partners based on

business synergies.
Numbers of operating units
As of the end of December 2023, 465 Medical HAL Lower Limb Type units were operating worldwide,
including those used for clinical research. ninety of those units were used in Japanese hospitals for treatment.
In addition, there were 618 units of HAL Single Joint Type, mainly from the increase of products for medical
use. A total of 364 units of HAL for Well-being Lower Limb Type and HAL for Living Support Lower Limb
Type (older model) were in operation. Furthermore, 1,062 units of HAL Lumbar Type for Well-being were in
operation. In addition, there were 396 units of HAL Lumbar Type for Labor Support and 171 units ofCleaning Robots and Transportation Robots.
Due to the abovementioned situation, in the consolidated nine months that ended December 31, 2023, theincrease of medical service in the US and rental in the EU contributed to the revenue recorded at ¥3,219

million (35.6% increase year on year). In addition, the Group recorded a gross profit of ¥1,742 million (17.6%
increase year on year).
The Group recorded research and development expenses at ¥517 million (4.7% increase year on year),mainly due to developing new products at the Company's own cost, clinical research, and consigned research
projects. In addition, the Group recorded other selling, general, and administrative expenses at ¥2,293 million(26.4% increase year on year) due to an increase following the M&A in the previous fiscal year. Other income
was recorded at ¥169 million (116.9% increase year on year), mainly from an exchange gain and consigned
research project. Other expenses were recorded at ¥704 million (¥1 million in the same quarter of the previous
fiscal year), mainly due to the posting of impairment losses on goodwill related to a domestic subsidiary, C2,

Inc. As a result, the Group recorded an operating loss of ¥1,603 million (113.9% increase year on year).
The Group recorded a finance income of ¥319 million, mainly due to gains from the valuation difference ofinvestment securities and exchange gain. In addition, the Group recorded gains related to CEJ Fund at ¥790
million and income tax expense at ¥506 million from deferred tax expenses, resulting in the posting of loss
attributable to owners of the parent at ¥951 million (profit of ¥68 million in the same quarter of the previous
fiscal year).

- 5 -(2) Explanation of financial position① Assets
For the consolidated nine months ended December 31, 2023, assets increased ¥153 million to ¥50,340
million compared to the end of the previous fiscal year. Changes were mainly due to a decrease of ¥2,567
million in cash and cash equivalent, ¥519 million in goodwill, and ¥216 million in other current assets,
partially offset by an increase of ¥1,997 million in other financial assets (current) and ¥1,633 million inother financial assets (non-current).
② Liabilities
For the consolidated nine months ended December 31, 2023, liabilities increased ¥1,139 million to ¥9,344
million compared to the end of the previous fiscal year. The changes were mainly due to a decrease of ¥197
million in trade and other payables, partially offset by an increase of ¥974 million in contributions to CEJ
Fund from third-party investors and ¥481 million in deferred tax liabilities.
③ Equity
For the consolidated nine months ended December 31, 2023, equity decreased ¥986 million to ¥40,997
million compared to the end of the previous fiscal year. Changes were mainly due to a decrease in retained
earnings following the posting of a loss attributable to the owners of the parents.

(3) Status of cashflow
For the consolidated nine months ended December 31, 2023, cash and cash equivalents increased ¥2,567
million to ¥5,234 million compared to the end of the previous fiscal year. The main influence factors for the
cash flow status within the consolidated nine months ended December 31, 2023, are stated below.
(Cash flows from operating activities)
For the consolidated nine months ended December 31, 2023, net cash provided by operating activities
recorded an outflow of 711 million (inflow of ¥122 million in the consolidated nine months of the previous
fiscal year). Changes were mainly due to impairment loss posted at ¥660 million, depreciation andamortization posted at ¥485 million, partially offset by a gain related to CEJ Fund recorded at ¥790 million,

loss before tax recorded at ¥566 million, and finance income recorded at ¥319 million.
(Cash flows from investment activities)
For the consolidated nine months ended December 31, 2023, net cash provided by investing activities recorded
an outflow of 2,129 million (an outflow of ¥800 million in the consolidated nine months of the previous fiscal
year). The changes were mainly due to the proceeds of redemption of investments posted at ¥14,500 million,
proceeds from the sale of investment securities posted at ¥465 million, partially offset by the acquisition of
investments posted at ¥16,500 million, purchase of investment securities posted at ¥455 million and thepurchase of property, plant, and equipment posted at ¥147 million.

(Cash flows from financing activities)
For the consolidated nine months ended December 31, 2023, net cash used in financing activities recorded an
inflow of ¥213 million (an inflow of ¥1,265 million in the consolidated nine months of the previous fiscal
year). The changes were mainly due to distribution and redemption from CEJ Fund into third-party investors
posted at ¥320 million, partially offset by the inflow of ¥680 million from contributions to CEJ Fund fromthird-party investors.

- 6 -2. Condensed quarterly consolidated financial statement(1) Condensed quarterly consolidated statement of financial position (Unaudited)
As of March 31, 2023

As of December 31, 2023

Millions of yen

Millions of yen

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables

7,801
540

5,234
528

Other financial assets

9,507

11,504Inventories

991

1,071

Other current assets

308

92

Total current assets

19,147

18,428Operating lease assets
Property, plant and equipment
Right of use assets
Goodwill
Intangible assets

430
13,406
546
2,531
80

372
13,279
499
2,012
48

Investments accounted for using equity method
Other financial assets

240
13,641

243
15,273

Other non-current assets

166

186

Total non-current assets

31,04031,91250,18750,340Non-current assets

Total assets- 7 -As of March 31, 2023

As of December 31, 2023

Millions of yen

Millions of yen

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables
Bonds and borrowings

690
89

493
84

Lease liabilities

147

148

Other current liabilities
Total current liabilities

365

279

1,291

1,004

Non-current liabilities
Bonds and borrowings

21

25

Third-party interests in CEJ Fund
Lease liabilities

4,792
412

5,766
369

Provisions
Deferred tax liabilities

96
1,577

96
2,058

Other non-current liabilities

14

25

Total non-current liabilities

6,913

8,339

8,204

9,344

10

10

Capital surplus
Treasury shares
Other components of equity
Retained earnings

42,877(1,188)
(979)
1,381

42,810(1,188)(852)
430

Total equity attributable to owners of the parent

42,101

41,209Non-controlling interests
Total equity

(118)

(212)

41,98340,997

Total liabilities and equity

50,18750,340Total liabilities
EquityShare capital- 8 -(2) Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated statement of comprehensive
income (Unaudited)
Condensed year to quarter end consolidated statement of profit or loss
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Millions of yen
2,374

Millions of yen
3,219

Cost of sales(892)(1,477)Gross profit

1,482

1,742

Research and development expenses
Other selling, general and administrative expenses(494)(1,814)(517)(2,293)

Total selling, general and administrative expenses
Other income(2,308)78(2,810)169

Other expenses

(1)

(704)

Finance income

(749)
694

(1,603)319

Finance costs
Gains related to CEJ Fund

(9)
199

(75)
790

(23)

3

112
(106)

(566)
(506)

Profit (loss)

6(1,072)

Profit (loss) attributable to
Owners of parent

68

(951)

Non-controlling interests

(63)

(121)

6

(1,072)

Basic earnings (loss) per share (yen)

0.32(4.51)

Diluted earnings (loss) per share (yen)

0.32(4.51)

Revenue

Selling, general and administrative expenses

Operating profit (loss)

Share of profit (loss) of investments accounted for using equity
methodProfit (loss) before tax
Income tax expense

Profit (loss)
Earnings (loss) per share- 9 -Condensed quarter period consolidated statement of profit or loss
Three months ended
December 31, 2022

Three months ended
December 31, 2023

Millions of yen

Millions of yen

Revenue
Cost of sales

831
(339)

1,115
(517)

Gross profit

492

598

Selling, general and administrative expenses
Research and development expenses

(161)

(163)

Other selling, general and administrative expenses

(652)

(771)

Total selling, general and administrative expenses

(813)

(934)

13
(0)

64
(15)

(307)
13
(3)

(287)
(89)
(17)

45

4

(9)

2

Income tax expense

(261)
28

(386)
7

Profit (loss)

(233)

(379)

Profit (loss) attributable to
Owners of parent
Non-controlling interests

(200)
(34)

(349)
(30)

(233)

(379)

(0.93)(1.65)(0.93)(1.65)

Other income
Other expenses
Operating profit (loss)
Finance income
Finance costs
Gains related to CEJ Fund
Share of profit (loss) of investments accounted for using equity
methodProfit (loss) before tax

Profit (loss)
Earnings (loss) per share
Basic earnings (loss) per share (yen)Diluted earnings (loss) per share (yen)- 10 -

Condensed year to quarter end consolidated statement of comprehensive income
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Millions of yen
6Millions of yen(1,072)Financial assets measured at fair value through othercomprehensive income

(13)

(29)

Total of items that will not be reclassified to profit or loss

(13)

(29)

Exchange differences on translation of foreign operations

130

147

Total of items that may be reclassified to profit or loss

130

147

Profit (loss)
Other comprehensive income
Items that will not be reclassified to profit or loss

Items that may be reclassified to profit or loss

Total other comprehensive income, net of tax

117

118

123

(954)

Owners of parent
Non-controlling interests

181
(58)

(825)
(130)

Comprehensive income

123

(954)

Comprehensive income
Comprehensive income attributable to- 11 -

(3) Condensed quarterly consolidated statement of changes in equity (Unaudited)
Nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)
Equity attributable to owners of parent
Other components of equity

Share capital

Capital surplus

Treasury shares

Millions of yen

Millions of yen

Millions of yen

Financialassetsmeasured atfair value
through othercomprehensive
incomeMillions of yen

Millions of yen

Millions of yen

10

42,869(0)(1,306)

142

19

－
－

－
－

－
－

－
(13)

－
126

－
－

April 1, 2022
Profit (loss)
Other comprehensive income

Exchangedifferences ontranslation offoreign
operations

StockacquisitionrightsTotal comprehensive income

－

－

－

(13)

126

－

Acquisition of treasury shares

－

(0)

－

－

－

Share-based payment transactions

－

－
6

－

－

－

－

Equity transaction non-controlling
Other

－
－

－
－

－
－

－
－

－
－

－
－

Total transactions with owners

－

6

(0)

－

－

－

10

42,875(0)(1,320)268

19Non-controllinginterests

Total equity

December 31, 2022

Equity attributable to owners of parent
Other
components ofequityRetainedearnings

Total

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen(1,145)

1,679
68

38
(63)
4

43,4506117

Total
April 1, 2022
Profit (loss)
Other comprehensive income－

43,413
68
113

Total comprehensive income

113

68

181

(58)

123

Acquisition of treasury shares

－

－

(0)

－

(0)

Share-based payment transactions

－

－

6

6

Equity transaction non-controlling
Other

－
－

－
－

－
－

－
9
2

Total transactions with owners
December 31, 2022

－
113

9
2

－

－

6

11

17

(1,032)

1,747

43,600(10)

43,590- 12 -

Nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)
Equity attributable to owners of parent
Other components of equity

Share capital

Capital surplus

Treasury shares

Millions of yen

Millions of yen

Millions of yen

Financialassetsmeasured atfair value
through othercomprehensive
incomeMillions of yen

Millions of yen

Millions of yen

10

42,877(1,188)(1,270)

272

19

－
－

－
－

－
－

－
(29)

－
156

－
－

April 1, 2023
Profit (loss)
Other comprehensive income

Exchangedifferences ontranslation offoreign
operations

StockacquisitionrightsTotal comprehensive income

－

－

－

(29)

156

－

Acquisition of treasury shares

－

(0)

－

－

－

Share-based payment transactions

－

－
6

－

－

－

－

Equity transaction non-controlling
Other

－
－

－
－

－
－

－
－

－
－

Total transactions with owners

－

(68)

(0)

－

－

－

10

42,810(1,188)(1,299)428

19Non-controllinginterests

Total equity

December 31, 2023

(72)－

Equity attributable to owners of parent
Other
components ofequityRetainedearnings

Total

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

(979)

1,381
(951)

(118)
(121)
(9)

41,983(1,072)
118

Total
April 1, 2023
Profit (loss)
Other comprehensive income－

42,101(951)
127

Total comprehensive income

127

(951)

(825)

(130)

(954)

Acquisition of treasury shares

－

－

(0)

－

(0)

Share-based payment transactions

－

－

6

Equity transaction non-controlling
Other

－
－

－
－

(73)

－
31
5

(42)
5

Total transactions with owners

－

－

(68)

36

(32)

(852)

430

41,209(212)

40,997

December 31, 2023－
127

- 13 -－

6

(4) Condensed quarterly consolidated statement of cash flows (Unaudited)

Cash flows from operating activities
Profit (loss) before tax
Depreciation and amortization

Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Millions of yen

Millions of yen
112
431

(566)
485

Impairment loss
Finance income
Finance costs

－
(694)
9

660
(319)
75

Loss (gains) on CEJ Fund
Share of loss (profit) of investments accounted for using equity

(199)

(790)

23

(3)

methodDecrease (increase) in inventories

17

(80)

107

23

Increase (decrease) in trade and other payables

19

(197)

Other

284

(22)

110
10
(0)

(735)
24
(0)

Decrease (increase) in trade and other receivables

SubtotalInterest received
Interest paid
Income tax refund

2

0

122

(711)

(15,000)
14,500(16,500)
14,500

Payment into time deposit(2,000)－

Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Purchase of intangible assets

4,500
(301)

－
(147)
(8)

Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of investments
Proceeds of redemption of investments－(3,009)Purchase of investment securities(455)

Proceeds from sale of investment securities
Payments for loans receivable

556
(66)

465
(3)

Collection of loans receivable
Other

10
10

4
15

(800)

(2,129)Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of long-term borrowings
Repayments of lease obligation
Contributions into CEJ Fund from third-party investors
Distributions and redemptions from CEJ Fund into third-party
investors
Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents

(9)

(10)

(97)
1,380

(129)
680

－

(320)

(9)

(8)

1,265

213

70

59

Cash and cash equivalents at beginning of fiscal year

656
5,677

(2,567)
7,801

Cash and cash equivalents at end of year

6,334

5,234

Net increase (decrease) in cash and cash equivalents- 14 -

(5) Notes to condensed quarterly consolidated financial statements(Notes on premise of going concern)
There are no items to report.

(Changes in accounting policy)
Significant accounting policies applied to the condensed consolidated financial statements for the consolidated nine months
ended December 31, 2023 are the same as those applied to the consolidated financial statements for the fiscal year ended March
31, 2023, with the following exceptions.
The income tax expense for the consolidated nine months ended December 31, 2023 has been calculated based on theestimated annual effective income tax rate.

IFRSs
IAS 12

Income Taxes

Nature of the new standards amendments
Revised clarification of deferred tax accounting for leases anddecommissioning obligations

The effect of applying these accounting standards on the Group’s condensed consolidated financial statements is not material.

- 15 -

(Revenue)
Disaggregation of revenue
Details of disaggregation of revenue are set forth below.
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Millions of yen

Millions of yen

Timing of revenue recognition
Service transferred over time
Asset transferred at a point of time

1,248
140

1,715
171

Service transferred at a point of time

986

1,332

2,374

3,219

Total

(Note) Since the Group operates under a single segment of business, segment information on revenue is omitted.
Service transferred over time
Service transferred over time includes rental income based on the individual rental contract, maintenance income basedon the maintenance contract concerning finance lease income where the Group acts as a lessor of right-of-use asset andsubscription fees from the provision and operation of smartphone applications.
The Group recognizes rental income as income generated throughout the rental period after the customer accepts therelevant product by either of the following methods. Pay-per-use model based on times of product usage in theapplicable month or base fee model based on the fixed monthly price.
The Group recognizes maintenance income as a performance obligation satisfied over time. Accordingly, theCompany records this revenue during this contract period based on the average amount during the period.
The Group recognizes subscription fees for the provision and operation of smartphone applications as service provided
through an application over time. The Company records this revenue over time.
Asset transferred at a point of time
Asset transferred at a point of time includes revenue from sales of commodities and products based on the sales contract.
The Group mainly determines that performance obligation of sales of commodities and products are satisfied at the pointof customer acceptance of the relevant product. Therefore, the Group receives most of the payment within one monthfrom the point of fulfilling the performance obligation. Regarding transaction price, there is no significance in theamount of sales revenue that includes variable consideration. Furthermore, there are no significant financial components
in the amount of promised consideration.
Furthermore, if the Group acts as a lessor of right-of-use of its devices such as HAL, the Group classifies the relevant
lease as a finance lease. Finance lease income is processed in the same way as cases where the Group acts as a lessor of
manufacturer or distributor of sales of goods. The Group determines that performance obligation is satisfied at the pointof customer acceptance, and the revenue is recognized at a point of time.
Service transferred at a point of time
Service transferred at a point of time includes revenue from offering Cybernic Treatment and training service at
Cybernic Treatment Center and Robocare Centers to end-users (such as patients). In addition, the Company also includes
revenue received in return for providing outcomes of consigned research projects in this category.
The Group determines that the performance obligation of Cybernic Treatment and training services are satisfied at the
point of completion of such services. Furthermore, the Group determines that the performance obligation of providing
outcomes of consigned research projects is satisfied when the customer inspects and accepts the work.

- 16 -