FY2019 Financial Results
Ken Shido, President & COO
This is an internal English translation of the YOROZU FY2019 Financial Results
issued in the Japanese language and is provided solely for the convenience ofEnglish speaking readers. In case of discrepancy the Japanese version prevails.

The first section of the Tokyo Stock Exchange (securities code: 7294)© YOROZU CORPORATION．2020 All Rights Reserved.

AgendaⅠ. FY2019 Financial Results
Ⅱ. FY2020 Annual Forecast
Ⅲ. COVID-19 Response
Ⅳ. Recent Activities
Ⅴ. Redistribution of Profits to Shareholders© YOROZU CORPORATION．2020 All Rights Reserved.

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Ⅰ. FY2019 Financial Results
Ⅱ. FY2020 Annual Forecast
Ⅲ. COVID-19 Response

Ⅳ. Recent Activities
Ⅴ. Redistribution of Profits to Shareholders© YOROZU CORPORATION．2020 All Rights Reserved.

FY2019 Consolidated Financial Statement Summary (Year on Year)
Millions of Yen

FY2018Year on Year

FY2019FY2019Updated Forecast *2

Sales

LatestComparison

169,111

157,680-6.8%

158,000-0.2％

Operating Income

5,290

2,206

-58.3%

2,300

-4.1％

Ordinary Income

5,222

770

402-12,933

Net Profit *1

FY2018A-85.2%―FY2019
B800-3.8％-14,000＋7.6％Difference
B-A

Net Profit per Share

16.94 yen-544.05 yen-560.99 yen

Rate Applied toConsolidated Statement

110.44 yen / $109.03 yen / $-1.41 yen / $Rate of Change―-1.3%*1 Net profit attributed to shareholders of the parent company*2 Forecast disclosed on April 15, 2020
Sales: Decline due to production cuts in Japan, U.S., China and Thailand
Operating income: Decline due to reduced output in Japan, China and Thailand despite recovery at Tennessee site
Ordinary income: Decline due to exchange loss from sharp fall in the value of newly emerging countries’ currency
Net profit: Decline due to impairment loss of tangible fixed assets at 5 production sites© YOROZU CORPORATION．2020 All Rights Reserved.

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Consolidated Sales by Customer (FY18 vs. FY19 Results)
Millions of Yen

Millions of Yen

169,111

180,000

157,680
160,000

FY2018(%)

FY2019(%)

116,99469.2%

104,453

66.2%

25,82815.3%

24,935

15.8%

Toyota Gr

6,950

4.1%

8,185

5.2%

Isuzu

5,322

3.1%

4,917

3.1%

Mazda

3,524

2.1%

4,705

3.0%

＋1,235
Honda Gr（＋17.8％）

Toyota140,000Customer
Nissan Gr *ToyotaHonda
120,000

Honda

-893
（-3.5％）

2,400

1.4%

2,596

1.6%

Kubota

2,163

1.3%

2,259

1.4%

Suzuki

2,892

1.7%

1,851

1.2%

Daimler

76

0.0%

667

0.4%

GM Gr

119

0.1%

86

0.1%

Others

2,843

1.7%

3,026

2.0%

-12,541 VW（-10.7％）100,000

80,000

Nissan60,000

Nissan40,000169,111 100.0%

Total
20,000157,680 100.0%* Sales to Renault-Mitsubishi included0

2018 Actual

Decline is attributed to sharp fall in sales to Nissan Gr.
Rollout of new model pushed up sales to Toyota Gr.

2019 Actual© YOROZU CORPORATION．2020 All Rights Reserved.

Analysis of Consolidated Operating Income (FY18 to FY19 Results）
Millions of Yen

10,000

仕掛中

366

8,000

1,404

Sales
DeclineCustomers’
request for
cost
reduction
売上減

Consolidation
adjustment

6,000
Cost Saving

Productivity falls in#2 site in Mexico

Depreciation

Impact ofCOVID-19

2,108

4,000

5,290
2,0000FY2018 Result

Revenuefrom die
sales

1,059
641608-3,084 Profit△2,790
減益Decline

230

115

Currency
exchangeeffect932,206
FY2019 Result

Emergency Profit Kaizen (cost saving) efforts have brought positive results while sales
and profits declined due to drop in customer sales and increase in depreciation cost.
© YOROZU CORPORATION．2020 All Rights Reserved.

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Sales and Operating Income by Region(Before Consolidation Adjustment FY18 vs. FY19 Results)◆Sales-6,586-11.6％

Millions of Yen

100,000

56,56350,0000FY18◆Operating Income
Millions of Yen

5,000-3,083-4.4％
70,654-6,829-11.5％

67,571

49,977FY19FY18

FY1959,392

52,563FY18FY19Japan

AmericasAsia-2,155-55.1％＋188+9.0％-1,482-40.4％

3,910

Difference
Rate of Change

3,668

2,186

1,755

0- 5,000

FY18

FY19-2,088- 1,900

FY18

FY19Americas

JapanFY18FY19Asia

Japan: Decrease in sales of parts and dies led to decline in income
Americas: Shift of demand from passenger cars to light trucks and drop in volume led to decline in income. Improved
profitability at Tennessee site and completion of payment of initial costs for Alabama plant could not make up for the loss.
Asia: Significant drop in output in China and Thailand led to decline in income.
© YOROZU CORPORATION．2020 All Rights Reserved.

Summary of Consolidated Balance Sheet for the Year Ended March 31, 2020
Millions of Yen

Mar. 31, 2019
AMar. 31, 2020
B

Current Assets

67,42258,386△9,036

Fixed Assets

100,675

81,313△19,362

168,097

139,700△28,397

Current Liabilities

40,27337,550△2,723Fixed Liabilities

35,513

27,598△7,915

Total Assets

Difference
B-A

75,787

65,149△10,638

Shareholders’ Equity

81,88867,677△14,211

Accumulated Other
Comprehensive Income△6,235△8,068△1,833

Non-controlling Interest, etc.

16,657

14,941△1,71692,31074,550△17,760

168,097

139,700△28,397

Total Liabilities

Net Assets
Total Liabilities and Net Assets

Current deposit-5,951
Notes/accounts receivable-trade-2,225Inventory asset-1,839Others+1,258
Tangible fixed assets
Investment securities
Deferred tax assets-14,704-2,929-1,366

Notes/accounts payable -1,508
Electronically recorded
obligations - operating-1,625
Short term debts-4,557
Long term debts planned to be
repaid in a year
+6,647
Income taxes payable-829
Long term debts
Lease debt

-7,459-705

Net profit (loss)
Dividend payment-12,933-831

Valuation difference on otherfor-sale securities-1,720Foreign currency translation
adjustment＋61

Retained earnings decreased as tangible fixed assets decreased throughimpairment accounting at five production sites.
© YOROZU CORPORATION．2020 All Rights Reserved.

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Capital Investment and Depreciation Cost
Capital Investment by Region

Depreciation Cost by Region

Millions of Yen
30,000Japan

Americas

Japan

Asia

AmericasAsia

24,64325,00020,01320,00015,50015,451

15,00011,216

10,870 10,592

FY19

FY1511,915

12,07512,522

FY17FY18

FY1910,0005,0000
FY15FY16FY17FY18FY16© YOROZU CORPORATION．2020 All Rights Reserved.

Ⅰ. FY2019 Financial Results
Ⅱ. FY2020 Annual Forecast
Ⅲ. COVID-19 Response
Ⅳ. Recent Activities
Ⅴ. Redistribution of Profits to Shareholders© YOROZU CORPORATION．2020 All Rights Reserved.

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FY2020 Consolidated Annual Forecast

As the global outbreak of the coronavirus disease is not yet undercontrol and uncertainty looms over foreign governments’ policies
and customers’ production activities, we are faced withdifficulties in making a proper estimate to date. Therefore, please
understand that the Group’s FY2020 financial outlook anddividend forecast are not yet determined.
Our forecast will be promptly disclosed when the estimation
becomes possible.

© YOROZU CORPORATION．2020 All Rights Reserved.

Ⅰ. Financial Results
Ⅱ. FY2020 Annual Forecast
Ⅲ. COVID-19 Response
Ⅳ. Recent Activities
Ⅴ. Redistribution of Profits to Shareholders© YOROZU CORPORATION．2020 All Rights Reserved.

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Infection Prevention

Response to state of emergency and restrictions declared around the world
HQ (Yokohama)・Encouraged employees to generally work from home・Set temporary closures, restrictions on business travels/meetings

HQ (Tochigi)・Adopted remote and on-site working shifts
・Set temporary closures, restrictions on business travels/meetings

Japan/Overseas Sites

・Production is taking place following the directions of governments
and local authorities to meet customer demand（Global Technical Center）© YOROZU CORPORATION．2020 All Rights Reserved.

Operation at Major Production Sites (Global)
CountryStatus
FEB

MAR

APR

MAYJUN

Operation at Yorozu Sites

JapanSince late March, operation has been suspended orproduction lines have been reduced depending on
customer needs.

U.S.

March 23 – May 10 Temporary shutdown
Operation has resumed depending on customer needs.

MexicoMarch 30 – May 31 Temporary shutdown
Operation is planned to resume depending on customer
needs.

ThailandSince early April, operation has been suspended or
production lines have been reduced depending on
customer needs.

Guangzhou

ChinaWuhan

Temporary shutdown

Guangzhou: Feb. 5 – 16 Temporary shutdown
Wuhan: Feb. 5 – Mar. 10 Temporary shutdown
As of this date, normal operation has resumed.

Suspended/partial operation

Normal operation© YOROZU CORPORATION．2020 All Rights Reserved.

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Continued Kaizen Activity into FY2020

Continue executives’ pay cuts for the time being
Take measures to drastically reduce fixed costs andto shift such costs to variable costs, among others

Continue Emergency Profit Kaizen (ongoing since FY2019)leaving no areas spared in our cost-cutting efforts© YOROZU CORPORATION．2020 All Rights Reserved.

Ⅰ. Financial Results
Ⅱ. FY2020 Annual Forecast
Ⅲ. COVID-19 Response
Ⅳ. Recent Activities
Ⅴ. Redistribution of Profits to Shareholders© YOROZU CORPORATION．2020 All Rights Reserved.

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Recent Activities
Startup of Global SUV (from 2020 onward)

ChinaJapanUSYorozu gets ready for successive launch of global SUV in Japan, US, andChina to produce approximately 300 thousand units for the year
© YOROZU CORPORATION．2020 All Rights Reserved.

Company Reorganization
Function Groups

米州Yorozu●
Yorozu Tochigi ●Yorozu Oita●
Yorozu Aichi ●Shonai Yorozu ●Yorozu●Engineering
Yorozu Service ●YA・YAT・YAA・YANAYMEX・YAGM YAB
G-YBM・W-YBM YTC・YOAT・YEST YJATYAI-------●-●
●-●
●
●
●

YPW Dept.
Corporate Strategy
OfficeInternal Auditing &Envr Mgt Office
HR Dept.
General Affairs Dept.
Finance Dept.
Info Systems Dept.
QA Dept.
R&D Dept.
Product Eng Dept.
Manufacturing
Engineering Dept.
Production
Equipment Sales Dept.
M&S Dept. No.1 & 2
Purchasing Dept.
Production Ctrl Dept.
Project Ctrl Dept.

Manufacturing
FunctionGroup

MarketingSales &Management
Function Gr.

Finance andProjectManagement
Function Gr.

Corporate
Strategy
Function

アジア日本

AsiaAmericas

Japan

Conventional Regional Units

InternalAuditing &Environmental
ManagementOffice●-------●-----●

●
●
●

●
●
●
-●---

●

---------

●
●
-●
-

●

--

“Three Function Groups”, a cross sectoral structure of current “3 Regions” + Functions© YOROZU CORPORATION．2020 All Rights Reserved.

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9Building Supervisory Confidence
Board of Directors
Inside Directors Outside Directors

Nominating
Committee

Compensation
Committee

Supervision ofCompany Management
Senior Management

Elect an additional outside director who brings extensive expertise from years of experience serving
as executive management at global automotive companies to secure strong corporate governance© YOROZU CORPORATION．2020 All Rights Reserved.

Ⅰ. Financial Results
Ⅱ. FY2020 Annual Forecast
Ⅲ. COVID-19 Response
Ⅳ. Recent Activities
Ⅴ. Redistribution of Profits to Shareholders© YOROZU CORPORATION．2020 All Rights Reserved.

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Financial Strategy: Enhance return to shareholders
271.5%（Yen/Share）
100

51.6%

80

53yen

58yen 59yen

35.5% 35.4%
51yen

60

40

16yen

17yen

20yen
18yen 19yen

1940

25yen
1623

25

23

991088991010112008

20092010

2011

2012

2013

2014

Interim dividend

Final dividend1334

840%30%185111050%

46yen

40

20

026yen 20.1%

Memorial
記念配当dividend
含むincluded

1820%

10%

120%

2015

2016

Memorial dividend

2017

2018

2019

Dividend payout ratio

FY2019 final dividend will be paid as publicly announced at the beginning of the term.
© YOROZU CORPORATION．2020 All Rights Reserved.

FY2019Financial Results
Thank you for your attention

Yorozu Website

http://www.yorozu-corp.co.jp© YOROZU CORPORATION．2020 All Rights Reserved.

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Disclaimer and Copyright
Please note that this document contains the forward-looking statements. We
ensure that our business forecast, estimation, and future strategies are based on
the information we reasonably obtained as of the date of preparing this document
and the judgment from normally-anticipated assumptions and beliefs. However,such forward-looking statements do not provide any guarantees for the future
performance, and may involve risks, uncertainties, and other factors which causematerial differences in any future results or performance expressed or implied inthis document.
We aim to proactively provide fair disclosure of accurate and necessary
information to investors and other related individuals, but we ask you not to place
undue reliance on such forward-looking statements to make any decisions.
In light of the copyright policy, please be advised that unauthorized reproduction
or distribution of this document for any purpose is strictly prohibited.
Thank you very much for your understanding and cooperation.
Contact Us
Yorozu Corporation
Person responsible: Akira SASO, Chief Executive Vice President, Member of the Board (CEVP&CFO)
Contact personnel: Yoshitake TAKAHASHI, Manager, Accounting Group, Finance Dept.
TEL 045-543-6802FAX 045-543-4915© YOROZU CORPORATION．2020 All Rights Reserved.

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