Summary of Financial Results:
1st Quarter of FY2024

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1. Financial Highlights

Historical net sales and operating profit• Net sales were down due to the transfer of subsidiary engaged in business for German
customers, though they were on the rise due to a recovery in automobile production in North
America and weak Japanese yen.
• OP margin improved to 13.8% (+2.3%pts QoQ)
(Billion of yen)
100.0

20.0%

Net Sales:
OP margin:

90.0

86.1
15.0%

80.0

13.8%

70.0
10.0%
60.0
50.0

5.0%

40.0
0.0%
30.0
20.0
-5.0%
10.0
-10.0%
24/1Q

3Q

23/1Q

3Q

22/1Q

3Q

21/1Q

3Q

20/1Q

3Q

19/1Q

3Q

18/1Q

3Q

17/1Q

3Q

16/1Q

3Q

15/1Q

3Q

14/1Q

3Q

13/1Q

3Q

12/1Q

3Q

11/1Q

3Q

10/Q1

3Q

09/1Q

3Q

08/1Q

0.0

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2. Overview of FY2024 1Q Consolidated

Sales decreased, OP increased. OPM was better than expected• Decreased sales due to transfer of subsidiary engaged in business for German customers,
but OP increased because of foreign exchange effects and decrease of other expenses.
• OPM remained steady with an upper 13% level.
FY2023

FY2024

1Q

2Q

3Q

4Q

1Q

YoY

Net Sales

87.9bn90.9bn94.9bn97.9bn86.1bn-2.1%

Operating
Profit(OP)10.1bn10.5bn10.8bn12.4bn11.8bn

17.2%

OPM

11.5%

11.6%

11.4%

12.7%

13.8%

2.3%pts

Quarterly
net income1)

9.7bn

7.6bn

6.1bn

-5.1bn

8.8bn

-9.1%

EPS

97.50yen(JPY)FX rates

76.22yen 61.02yen -51.91yen 88.87yen-7.7%

1USD=132.4yen 1USD=135.0yen 1USD=138.2yen 1USD=140.7yen 1USD=148.6yen 1USD=+16.2yen
1EUR=142.1yen 1EUR=142.9yen 1EUR=149.8yen 1EUR=152.1yen 1EUR=161.3yen 1EUR=+19.2yen

1) Net profit attributable to the parent company

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3. FY2024 Q1 Consolidated Operation Profit(YoY)1

Operating profit analysis(YoY)• OP increased mainly because of a recovery of automobile production.
• The transfer of subsidiary engaged in business for German customers caused sales
decrease, but OP increased 0.3bn because of an improve of marginal profit and fixed cost
reduction.

+0.４bn+0.6bn+0.８bn-1.1bn+1.0bn11.8bn10.1bnOP(FY2023 Q1

Effect oftransfer
Germansubsidiary

Salesfactors

1 Overseas: January - March 2024; Japan: April – June 2024

Marginal profit
ratio factors(Raw materialcosts,etc.)

Fixed cost
factors

FX impactOP(FY2024 Q1)

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4. FY2024 1Q by Segment(Net Sales)1

Overall sales were on the rise, but net sales were down due to the business transfer• Net sales were down due to the transfer of subsidiary engaged in business for German
customers, even though there was a recovery of automobile production in North America
and effect of weak Japanese yen.
• Sales in China increased even though the Japanese OEMs still struggled.
FY2023(1Q)

FY2024(1Q)

YoY

Consolidated

87.9bn86.1bn-2.1%

Plastics

79.8bn77.1bn

-3.5%

Japan

20.8bn19.6bn-5.7%

Automobile production decrease

NorthAmerica

20.9bn22.4bn+6.9%

Automobile production recoveryof Japanese OEMs

Europe11.7bn7.8bn-33.5%

Down due to the business transferAsia

26.4bn27.3bn+3.4%

Increase of motorcycles and in India

China

6.6bn

7.0bn

+7.5%

Decreased automobile productionof Japanese OEMs

8.1bn

9.0bn

+11.2%

Increase of hotel sales

Bed

1 Overseas: January – March 2024; Japan: April – June 2024

Major Factors of Change

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5. FY2024 1Q by Segment(Operating Profit)1

OP increased in all regions and segments except Japan• OP decreased in Japan, but it was covered by fixed cost management, OPM was +0.3pt• OP in North America and Europe increased because of the business transfer and arecovery of automobile production
FY2023(1Q)

FY2024(1Q)

YoY

Consolidated

10.1bn11.8bn+17.2%

Plastics

10.1bn12.0bn+19.4%

Japan

4.0bn

(19.4%)

3.9bn(19.7%)

-4.0%

1.0bn

2.2bn

+123.3%

Europe0.6bn(5.0%)

0.8bn(10.6%)+40.2%

Production recovery

Asia

4.5bn

5.1bn

+14.7%

Increase of motorcycles and in India(11.8%)

1.2bn(17.6%)+60.1%

Improved because of sales increase
and fixed cost management1.4bn

1.4bn

+6.1%

NorthAmerica

ChinaBed(11.5%)(12.6%)(4.7%)(17.0%)

0.8bn(16.8%)(13.8%)(15.6%)(9.9%)(18.8%)(16.1%)

1 Overseas: January – March 2024; Japan: April – June 2024

Major Factors of Change

Decreased but covered by fixed costmanagement
Improved because of sales increase
and fixed cost management

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6. CAPEX and Depreciation

Continue cash flow-oriented management & manage appropriate fund allocation• Operating cash flow progressed as planned• Progress rate of CAPEX proceeded more slowly than planned. Will execute
appropriately based on demand
FY2023(1Q)

FY2024(1Q)

ChangeFY2024Forecast

CAPEX

1.7bn

3.6bn

+1.9bn23.2bnDepreciation

3.4bn

3.2bn

-0.2bn12.8bn

R&D

0.8bn

1.0bn

+0.2bn4.0bn

Operating CF

10.2bn13.1bn+2.9bn42.6bnInvestment CF-2.2bn-8.3bn-6.1bn-23.0bn

Free CF

8.0bn

4.8bn

-3.2bn19.6bnFinancial CF-16.2bn-10.9bn+5.3bn-29.5bn

Cash equivalentbalance

117.0bn139.7bn+22.7bn

121.4bn(JPY)

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7.Shareholder returnDPS increased by 6 yen, consider buybacks assertively• DPS is 70 yen, increased by 6 yen• After 50 mil yen buybacks, stay flexible in considering buybacks
FY2020

FY2021

FY2022

FY2023

FY2024e

Dividend(full-year)62
yen/share53
yen/share62
yen/share64
yen/share64
yen/share70
yen/share

Share
Buy-back

790k shares 710k shares1.38mn shares 360k shares 800k shares 1.30mn shares(1.4bn yen) (1.4bn yen) (4.8bn yen) (1.2bn yen) (3.0bn yen) (5.0bn yen)

Return to Shareholders

FY2019Target: Dividend

ActualTotal payout ratio
more than 45%

Dividend payout ratio︓ 30%

8%

35%

: Share buyback

8%
29%

20%

27%

17%

19%

6%
30%

46%
(as of now）

35%

27%

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8End

Forward-looking statements or projections included in this document, including
earnings projections, are based on currently available information and certain
premises that are judged to be rational at the time of this writing. Actual results may
differ greatly from the forecast figures depending on various factors.
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