FY2021 Financial Results
Tsutomu Hiranaka, President & COO
This is an internal English translation of the YOROZU FY2021 Financial Report issued in the Japanese language andis provided solely for the convenience of English speaking readers. In case of discrepancy the Japanese version prevails.

Prime Market in Tokyo Stock Exchange (Securities Code: 7294)

Ⅰ. Financial Summary
Ⅱ. FY2021 Results
Ⅲ. FY2022 Forecast
Ⅳ. FY2022 Activities
Ⅴ. Shareholder Return© YOROZU CORPORATION. 2022 All Rights Reserved.

2

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Financial Summary
FY2021Results

・Delivered a full year profit up sharply year-on-year
benefitting from Profit Kaizen Activities, despite of stagnant
sales due to car production drop in the latter half・Maintained financial health by making loan repayment

FY2022
Forecast

・Expects an increase in both sales and profits year-on-year
driven by appropriate repricing and ongoing Profit Kaizen
Activities in spite of ambiguities in strong recovery of car
production due to the long-term semiconductor shortages andsurge in raw material prices and logistical costs
・Keeps focusing on YSP2023 Mid-term Business Plan toaccelerate achievement

Shareholder ・FY2021 year-end dividend per share of JPY7.00 (annual
dividend per share of JPY13.00) with the dividend payout ratio
Returnof 35.6%
・Plans to increase the annual dividend for FY2022 by JPY20.00(around 2.5 times) year-on-year to JPY33.00 per share andexpects the dividend payout ratio of 35.7%© YOROZU CORPORATION. 2022 All Rights Reserved.

3

Ⅰ. Financial Summary
Ⅱ. FY2021 Results
Ⅲ. FY2022 Forecast
Ⅳ. FY2022 Activities
Ⅴ. Shareholder Return© YOROZU CORPORATION. 2022 All Rights Reserved.

4

2

FY2021 Consolidated Financial Summary(year on year)
Million yen
Sales

FY2020

FY2021

FY2021Year-on-Year

LatestForecast*2

AgainstLatestForecast

118,863

127,316+7.1%

126,000

+1.0％

377

2,096

+455.8%1,260+66.4％

Ordinary Income

1,449

2,284

+57.7%

1,240+84.2％Net Income*1-6,195

876

ー

650

+34.9%

Operating Income*1 Net Income attributable to parent company shareholders

FY2020A

FY2021B*2 Estimated figures as of Feb. 9, 2022

Difference

B-A

Percentage
of Change

Net Income per Share-259.07 yen

36.55 yen+295.62 yenーExchange Rate Applied

106.76 yen/$

109.90 yen/$+3.14 yen/$+2.9%

 Sales: A rise in steel material prices and the impact of weak yen brought a positive effect on sales.
 Operating income: Thorough implementation of Yosedome (a lean word meaning theconsolidation of operations or processes to pursue efficiency) in the production system andslimmed-down fixed costs posted a sharp increase in the profit.
 Ordinary income: Employment adjustment subsidy made a great contribution to the profit.
 Net income: From the deficit in the previous term, the net income turned surplus.
5© YOROZU CORPORATION. 2022 All Rights Reserved.

Consolidated Sales by Customer(FY2020 vs. FY2021)

Million yen
140,000

118,863

100,000

ToyotaHonda

Customer

FY2020(%)

FY2021(%)

Nissan Gr *75,994

63.9%

78,01561.3%+1,808 Honda Gr（+25.1％）

20,07016.9%

21,095

16.6%

7,191

6.0%

8,999

7.1%

+1,025 Isuzu（+5.1％）

4,188

3.5%

5,093

4.0%

127,316

120,000

Toyota Gr

ToyotaHonda

80,000

Mazda

2,855

2.4%

3,060

2.4%

+2,021（+2.7％） Kubota

2,027

1.7%

2,882

2.3%

Daimler

1,539

1.3%

1,994

1.6%

VW

1,576

1.3%

1,857

1.5%

Suzuki

1,068

0.9%

1,593

1.3%

Others

2,355

2.1%

2,728

1.9%

60,00040,000

NissanMillion yen

NissanTotal
20,000118,863 100.0%

127,316 100.0%* Includes sales to Renault and Mitsubishi

0

FY2020 actual

FY2021 actual© YOROZU CORPORATION. 2022 All Rights Reserved.

 Sales to all customers increased year-on-year.
 The composition ratio of Nissan fell down as thesales to Toyota and others expanded.
63

Analysis of Impact on Consolidated Operating Income(year on year)

Million yen
5,000Transfer ofextraordinary
losses related
to Covid-19

4,000

926

112

Exchange
rate effect

-966

Die
equipment

3,000

-425

Cost-saving
efforts

Consolidation
adjustments A decreasein sales

-370

-67

2,000

2,509
2,096

1,000

0

377

Depreciation

FY2020 results

FY2021 results

Operating income (+1,719）

We experienced significant profit growth year-on-year after consistently slimming
down depreciation and other fixed costs and accumulating cost-saving efforts
7© YOROZU CORPORATION. 2022 All Rights Reserved.

Sales and Operating Income by Region FY2020 vs. FY2021

Before Consolidation Adjustment◆SalesJapan

Americas

Asia

Million yen-2,320-5.8％+1,305+2.9％+6,301+14.2％

100,000
50,000039,79837,47844,82946,13444,240

FY20

FY21

FY20

FY21

FY20

◆Operating Income

-48
-4.2％

Million yen

5,000

1,136

+1,593+63.7％

1,088

Changes% of change

50,541

FY21+193+13.7％
1,407

1,600

FY20

FY21

0
-5,000-2,502
FY20

FY21

FY20

-909
FY21

 Japan: The declined sales of parts and tooling eroded a rise in royalty and led to a decrease in bothsales and profit.
 The Americas: Foreign exchange helped overcome sluggish production and make a small rise in sales.
Operating loss was also reduced thanks to cost-saving efforts.
 Asia: An increase in sales and profit was posted as vehicle production grew in Thailand and India.
© YOROZU CORPORATION. 2022 All Rights Reserved.

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Financial Standing for the year ended March 31, 2022
(Million Yen）

Mar. 31, 2021 A

Mar. 31, 2022 B

53,38357,039+3,656

6.8％

39.6%

42.6%

--

--

Net Worth
Equity Ratio

Year on Year (B-A)

D/E ratio

Interest-bearing Debt
NET D/E ratio

Net Interest-bearing Debt

0.84

44,7690.60

34,259-10,510-23.5%

0.29

15,509

0.09

5,392

-10,117-65.2%

133,992

-731

-0.5%

Total Asset(Million Yen）

134,723
FY2020(Full term) A

FY2021(Full term) B

Year on Year (B-A)

Cash flow fromOperating Activities

13,21814,914+1,696

12.8%

Cash flow from
Investing Activities-7,048-4,536+2,512--

Cash flow from
Financing Activities

3,775-13,816-17,591--

The net interest-bearing debt and the net D/E ratio decreased while cash on hand
was secured. FCF was positive for the second consecutive year.
9© YOROZU CORPORATION. 2022 All Rights Reserved.

(Reference) Consolidated Balance Sheet Summary
For the year ended March 31, 2022
Cash & bank deposit

Million yen
Current Assets
Fixed Assets
Total Assets-393

Difference
B-A

Notes & accounts receivable +817

66,475+2,75471,001

67,516-3,485

Tangible fixed assets -2,262
Investment securities-753
Deferred tax assets-18

134,723

133,992-731

Mar. 31,2021 A

63,721Mar. 31,2022 B

Inventories
Other current assets

Notes and accounts payable+2,652-321+1,073

Electronically recorded obligations +204

Current Liabilities

39,331

44,592+5,261

Fixed Liabilities

29,65319,021-10,632

68,984

63,613-5,371

Shareholders’ Equity

61,29561,761+466

Other Accumulated
Comprehensive Income-7,912-4,721+3,191

Non-controlling Interest,
etc.

12,355

13,338+983

65,73870,378+4,640134,723

133,992-731

Total Liabilities

Total Net Assets
Total Liabilities and Net Assets© YOROZU CORPORATION. 2022 All Rights Reserved.

Short term debts+250

Long-term debts due within 1 year
Others-180+4,012Long-term debts-10,089
Retirement benefit obligations -172

Net income
Dividend payment

+876
-455

Other securities
Valuation difference-504
Foreign currency translation
adjustment+3,628105

Ⅰ. Financial Summary
Ⅱ. FY2021 Results
Ⅲ. FY2022 Forecast
Ⅳ. FY2022 Activities
Ⅴ. Shareholder Return

11© YOROZU CORPORATION. 2022 All Rights Reserved.

Consolidated Financial Forecast Summary for FY2022
Million yen

FY2021
Actual
A

Sales
Ratio

FY2022
Forecast
B

150,000 100.0%

127,316100.0％

Operating Income

2,096

1.6％

3,750

Ordinary Income

2,284

1.8％

876

0.7％

Sales

Net Income *1*1

FY21 ActualA
Net Income per Share

36.55 yenExchange Rate Applied

109.90 yen/$

Sales
Ratio

Difference

B-A

Percentage
of Change+22,684+17.8%

2.5%+1,654+78.9%

3,600

2.4%

+1,316+57.6%

2,230

1.5%

＋1,354+154.3%

Net income attributable to the parent’s shareholders

FY2022 Forecast
B
92.48 yen

Difference

B-A

Percentage
of Change＋55.93 yen+153.0%120.00 yen/$ +10.10 yen/＄+9.2%

 Sales are expected to increase due to exchange rate difference and rise in
the price of raw materials though the market is in a weak state of recovery.
 Operating income is expected to grow steadily amid slow market recovery.
© YOROZU CORPORATION. 2022 All Rights Reserved.

126

Consolidated Sales by Customer(FY21 Results vs. FY22 Forecast)Million yen

FY21

(%)

FY22

(%)

Nissan Gr*

78,015

61.3%

96,21664.1%

Honda Gr

21,095

16.6%

21,27614.2%+1,825 Toyota Gr(+20.3%)

8,999

7.1%

10,8247.2%

150,000

160,000

127,316140,000

Isuzu

5,093

4.0%

6,467

4.3%

Toyota+181
Honda （+0.86％）Mazda

3,060

2.4%

3,105

2.1%

Honda

Kubota

2,882

1.3%

2,777

1.1%

VW

1,857

2.3%

2,215

1.9%

1,994

1.5%

1,875

1.5%

Suzuki

1,593

1.6%

1,687

1.3%

Others

2,728

1.9%

3,558

2.3%

Toyota120,000
100,000
80,000+18,201（+23.3％）Daimler

60,000
NissanNissan40,000Million yen

Customer

180,000

127,316 100.0%

Total

20,000150,000 100.0%* Includes sales to Renault and Mitsubishi
0

2021年度実績
FY2021
actual Sales are expected to rise with sales to
Nissan Group at the top of the list.

2022年度予測
FY2022
forecast

13© YOROZU CORPORATION. 2022 All Rights Reserved.

Analysis of Impact on Consolidated Operating Income(FY21 Results vs. FY22 Forecast)Million yen
6,000

Consolidation
Adjustment

5,000

4,000

975

3,000

1,329

2,000

1,000

0

128
Depreciation

109

Marketimpact, etc.

90

Exchange
rate effect

-920

-57
Dies andequipment

Sales
increase

3,750

Cost-saving
efforts

2,096

FY2021 results

Operating income (＋1,654)

FY2022 forecast

Profit is expected to grow thanks to accumulated cost-saving efforts andsales increase despite market impact, etc. putting pressure on profits.
© YOROZU CORPORATION. 2022 All Rights Reserved.

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Before Consolidation Adjustment
FY21 Results vs. FY22 Forecast◆SalesMillion yen

100,000

Japan

AmericasAsia+8,922+23.8％+8,466+18.4％+5,659+11.2％

37,47850,00046,40046,134FY22FY2154,60050,541

56,200

FY22

FY21

FY22

0
FY21

Changes% of Change◆Operating Income+1,482+136.2％Million yen

5,000
1,088

＋949
--

-620
-38.8％

2,570

1,600

980

FY21

FY22

40

0

△ 909
-909

△-5,000
5,000

FY21

FY22

FY21

FY22

Sales to increase across all segments
 Japan: Expects profits to increase through royalty income and recovery at domestic sites
 The Americas: Aiming surplus with the backdrop of improved profits and decreased fixed costs Asia: So far, profits expected to decline because of substantial reduction in production volume
15© YOROZU CORPORATION. 2022 All Rights Reserved.

Capital Investment and Depreciation
Capital Investment by Region

Depreciation by Region

Million yen
25,000Japan

Americas

Asia

Japan

AmericasAsia

20,00015,451
15,00013,477
12,075

11,216

12,522
10,246

10,000

8,903

9,362

7,219
5,000

3,367

0
FY18

FY19

FY20

© YOROZU CORPORATION. 2022 All Rights Reserved.

FY21

FY22

FY18

FY19

FY20

FY21

FY22
16

8

Ⅰ. Financial Summary
Ⅱ. FY2021 Results
Ⅲ. FY2022 Forecast
Ⅳ. FY2022 Activities
Ⅴ. Shareholder Return

17© YOROZU CORPORATION. 2022 All Rights Reserved.

Mid-term Business Plan Yorozu Sustainability Plan 2023
Consolidated Performance Goals (FY2023)
Sales
150.0 billion yen

Operating Income
Ratio 5.0%

ROE 8.0%

Management Policy
Engage in sound management that is resilient to changes(1) ESG Management(2) Stable Profit(3) New Technologies/Methods

Medium- to long-term sustainablegrowthPromotion of DX (digital transformation) aimed
at changing the corporate culture• Shift to optimum production
capacity• Develop products with high added
value through weight reduction• Recreate a strong gemba• Propose products for EVs• Strengthen cash flow
management• Engage in proactive sales
expansion in 3 axes (customers,
products, regions)• Ｅ: Engage in earth-friendly monozukuri• Ｓ: Create a healthy and engaging
workplace• Ｇ: Realize highly transparent
governance© YOROZU CORPORATION. 2022 All Rights Reserved.

• Build a robust corporate
structure that is less affectedby production volume• Expand external sales of
production equipment such as diesand tooling18

9FY2021 Topics●Issued Yorozu Integrated Report (September)

General

ESG Management●Announced Yorozu Global Environmental Vision 2040 (August)Environmental●Announced endorsement of TCFD (September)●Switched to 100% green power at Yorozu Oita (March)●Moved beyond work style reform to improve employee engagement

Social●Became the first company in Kanagawa and the first in theindustry to receive Platinum Eruboshi certification (November)

Governance●Announced selection of Prime Market in TSE following accreditationof our compliance with the TSE listing criteria (August)

DigitalTransformation●Announced Yorozu DX initiatives (August)Stable Profit●Strict adherence to Yosedome (consolidation of production) system
to align with reduced volume●Kept production running during COVID-19 crisis●Announced construction of a new plant in Tokai district andconsolidation/transfer of production at Yorozu Aichi (February)

New Technologies
and Methods●Established low CO2 emission technology by means of LCA thereby
contributing to society and customers
・ CO2 reduction by making products lighter
・ CO2 reduction in manufacturing by replacing materials
19© YOROZU CORPORATION. 2022 All Rights Reserved.

Progress in YSP2023
20
Market trends
Globalenvironment

ESG
management
Medium- to longterm sustainablegrowthDX promotion
Stable profit
CF managementNew
technologies
and methods
EV products,
technologies

Phase

FY21

FY22

FY23

24

COVID-19, semi-conductor shortage, China lockdown, Russia-Ukraine conflict

Increased societal needs for a decarbonized society
E: Carbon neutrality initiatives ●・Environmental Vision 2040
・Y-Oita Green Power
S: Reform aimed at improving●
employee engagement
・Platinum Eruboshi certification
G: Selection of Prime Market TSE
Promotion of Yorozu DX●

Announced construction of anew plant in Tokai district●

Promote development of
products that contribute tocustomers’ CO2 reduction by
adopting LCA approach●

HOP

Advance carbon neutrality
across all sites
3 themes for DX- Reduce LT formonozukuri- Smart factory- Indirect work
reform

New Tokai plant;
the model planttakes shape

Expand sales
Expand products for EVs
Contribute to electrification society
Promote development of newtechnologies/methods

STEP

JUMP

５Gs
© YOROZU CORPORATION. 2022 All Rights Reserved.

20

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What are the 5Gs
Build and pave the way for Yorozu’s growth strategy
to prove our strong presence in the electrification era

５Gs

Growth Strategy

Grit
Guts

Resilience

Initiative

Tenacity© YOROZU CORPORATION. 2022 All Rights Reserved.

21

Mid-term Business Plan Yorozu Sustainability Plan 2023

Strategy for Carbon Neutrality© YOROZU CORPORATION. 2022 All Rights Reserved.

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Roadmap to Carbon Neutrality (CN)Policy*Task Force on Climate-related Financial Disclosures

CN Promotion Office (established April 2022)

CO2 emissions reduction
Upstream

Scope３
Scope2

YorozuNext mid-term plan onwards

ESG Office (April 2021)

Material
Procurement

Electricity

Field of CO2 reduction efforts (life cycle)

Collaboration with raw material makers and part suppliers
4 domestic sites

All domestic sites

Green power/Solar

Green power/Solar▼

New Tokai plant7％

reduction(against 2013）▼

Overseas sites

100％Green power/Solar

Scope1

reduction(against 2013)

Fuel
Downstream▼
50％

Green power/Solar

reduction（against 2013）

Scope３
Product Use

2040▼

YG Environmental Vision 2040 (August 2021)
Endorsed recommendations of TCFD* (September 2021)

Environmental
VisionStructure∥

YSP2023

2030▼∥

March 2024▼

April 2022▼

May 2021▼

New Tokai plant

Existing sites

CN for fuel/heat source

CN for fuel/heat source

Develop products that help reduce customers’ CO2 emissions
23© YOROZU CORPORATION. 2022 All Rights Reserved.

Domestic Sites – Working toward CN
Yorozu Oita switched to100% Green Power (March 1, 2022)

Jointly taking a phased approach to
implementation across all domestic sites

Example at Y-Oita
Solar power generation

CO2 reduced by
4,700 ton/year

Solar panels were placed
over parking lots andidling space

afterFIT
Green Power Producer

Solar

Wind

Hydro

Going forward
Domestic sites

NumberGreen power ratio

CO2 reduced/year

thru toFY2022

4 out of 6

60 ％7,020 tons

thru toFY2024

6 out of 6100 ％11,700 tons

© YOROZU CORPORATION. 2022 All Rights Reserved.

Achieve 80%
CO2 reduction
at domestic
sites
Helps to advancethe achievement of2030 targets

24

12

Overseas Sites (Adoption of Solar Power Generation)
YSP2023FY20Country
ThailandChina

Mexico

U.S.
India

▼

Site
Y-OAT
YTC

FY21

▼

FY22

▼

Next mid-termplan onwards
次期中計～

FY23

2030
▼

▼

Green Power Plan
Completed

Solar panels installed at the Thai site

G-YBM
W-YBM
YMEX
YAGM
YAT
YAA
YJAT

Indonesia

YAI

BrazilYAB

We will pursue activities aligned with the decarbonization initiatives of each country© YOROZU CORPORATION. 2022 All Rights Reserved.

25

Mid-term Business Plan Yorozu Sustainability Plan 2023

New Plant in Tokai District© YOROZU CORPORATION. 2022 All Rights Reserved.

26

13

Plan and progress

Overview of the new plant

Construction of a New Plant in Tokai District
Location: Wanouchicho, Anpachi-gun, Gifu
(planned site)＜Designed building exterior＞

Product: Automotive suspension parts, others
Site area: approx. 79,700 sq.m.
Total floor area: approx. 18,400 sq.m.
Investment amount: approx. 12.0 billion yen
Start of construction: scheduled Nov. 2022
Start of operation: scheduled Jan. 2024
・May: Pre-construction groundwork andboring survey

Gifu Prefecture
Gifu-Hashima station (Shinkansen)

New plant
planned site

Straight line
distance 27 km

Aichi
Prefecture

YorozuAichi

27© YOROZU CORPORATION. 2022 All Rights Reserved.

Strengthen Monozukuri Competitiveness - New Plant
Stay one step ahead inproductivity and quality

Improve distribution efficiency(Cut costs and CO2 emissions)・Moving closer to customers and suppliersin the Chubu region and westward

・Moving out from small, leased
property to owned property

New Plantin Tokai・Increased production capacity
・Improved process layout

Good access tomajor customers

・Replacement of aging equipment

New Plant
Daihatsu Shiga
70 min. 78 km

・Expansion of in-house stamping

Toyota Motomachi
56 min. 68 km

・Installation of state-of-the-art

Honda Suzuka
71 min. 64 km

ultra-thick film coating facility

Suzuki Kosai
143 min. 140 km

Promote DX
Monozukuri lead time
reduction
Production plan

Scope 1, 2 Achieve CN© YOROZU CORPORATION. 2022 All Rights Reserved.

Smart Factory
Visual control

Analysis data

Indirect
operation reform
Prediction data

Manufacturing in a thoroughly GREEN environment
28

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What the New Plant Aims to Be

Society

Demand for a sustainable
societywith solutions to global
environmental/social issues
and attainment of SDGs

Give full attention to theenvironment
・Zero CO2 emissions in the production
process
・Addressing issues from an LCA
perspective

Co-exist with the community
・Provide opportunities to connect withthe community
・Create employment
・Make joint efforts on environment

Demand for technologicalinnovation
Customerthat contributes to rapid
acceleration of electrification

Contribute to electrification
with quality products
・Expand sales of lightweight products・Contribute to customers by reducing
CO2 through products

Marketing and sales base that
ensures CS and ES
・Move closer to customers in Tokai andKansai region
・Strengthen monozukuri capabilities
・Increase employee engagement

YorozuSolutions tovarious issues throughbusiness activities

A model plant forJapanese parts makers© YOROZU CORPORATION. 2022 All Rights Reserved.

29

Mid-term Business Plan Yorozu Sustainability Plan 2023

New Technologies/Methods Contributing toElectrification in the Society and Sales Expansion© YOROZU CORPORATION. 2022 All Rights Reserved.

30

15

New Technologies/Methods Adoption of LCA◆Cut CO2 emissions in our manufacturing process and advance productdevelopment contributable to CO2 emission reductions at customers◆Development of products fulfilling customer preferences andenvironmental, functional, and pricing requirements

Our involvement in LCA (Life Cycle Assessment)
Scope３
Scope３
Scope1,2
Furnace makers
Materials

In-house
production

RecycleCustomers
Car running

Blast
furnace
RecycleClients
Emission reduction

当社
YorozuCustomers
Contribution
to reduction

Emission
reduction
排出量削減

31

© YOROZU CORPORATION. 2022 All Rights Reserved.

New Technologies/Methods Developed Items- Stamping & welding technologies applicable to high-tensile thin sheet materials- Structural design and development of methods to reduce manufacturing
processes by adopting iron products

Iron products contributing to engineering
Timing

FY21

FY22

Item

Members:
High-tensile steel sheet(780MPa materials)

Arms:
New stamping structure

Reduce thickness by high-tensile material
Develop stamping & welding technology
Apply to tough forming processes

Develop structures & methods
fulfilling link functions
only with a single stamped partKey
Development

WeightCO2
EmissionsMarket launch decisions

-8%

-11%

(26.3 kg → 24.2kg)(0.57 kg → 0.50kg)-310k tons

© YOROZU CORPORATION. 2022 All Rights Reserved.

-20k tons*Calculated on the assumption of being adopted to vehicle models
with 6 year-life and 200k units/year32

16New Technologies/Methods Developed Items- Replace lightweight aluminum, a massive CO2 emitter in the raw material
processing, with iron products to reduce CO2 emissions in total- Stamping & welding technologies applicable to ultra high-tensile thin sheet materials

Iron products contributing to engineering
Timing

FY22

FY23

Item

Arms adopting analternative material(aluminum -> iron)Arms made from ultra-high tensile
steel sheets (980MPa material)

Adopt iron, a less CO2
Keyemitter, in the raw
Development material processing

Develop stamping and welding
technologies reducing thickness of ultra
high-tensile sheet materials
Application to toughforming (FY24 or later)

Market launch decisions
WeightCO2
Emissions+33%(Aluminum 1.85kg→ Iron 2.46kg)

-15%

-22%

(9.20kg → 7.82kg)(3.51kg → 2.74kg)-281k tons

-407k tons

-228k tons

*Calculated on the assumption of being adopted to vehicle models
with 6 year-life and 200k units/year© YOROZU CORPORATION. 2022 All Rights Reserved.

33

New Technologies/Methods Lightweight Target & Progress

YSP2023

YSP2020
Structure and design oflight & highly rigid
suspension
780MPa class steel sheets

Ultra light weight & highly rigid suspension
structure & design

Achieved 15％
weight reduction

FY21 Members: High-tensile steel sheet 780MPa class
FY22 Arms: New stamping structure and material
replacement
FY23 Arms: Ultra high-tensile sheet 980MPa class

Weight reduction of 15％

YSP2023

YSP2020
FY18～FY20

-15%

▼

FY21

-23%
Achieved

▼

FY22

FY23

▼

-30%

-26%
PlannedPlannedNext mid-term plan
onwards
FY24～▼

・Develop
products for EVs
・Nurture
underlying
technology

Weight reduced by 30% or more
© YOROZU CORPORATION. 2022 All Rights Reserved.

34

17

Proactive Sales Expansion
Customer axis
Stable customer baseProduct axis
Products for EVs

Region axis
Mainly in Japan,
China and US

Highly-evaluated in termsof competitiveness・Contracts awarded for BEV※ products:

・Nissan ARIYA・Toyota bZ4X
・Subaru SOLTERRA

Customeraxis
Tripartite
cooperation
for new
contracts

Productaxis・Sales expansion through strengthened
monozukuri at the new Tokai plant

Region axis

・Contracts awarded for suspension:・Toyota Frontlander

Stable profit

Carbon neutrality promotion(fundamental initiatives)© YOROZU CORPORATION. 2022 All Rights Reserved.

・Sales of BEV products is to be enhanced
・Contracts awarded for suspension:

・Nissan Pathfinder
・Sales of BEV products is to be enhanced※BEV（Battery Electric Vehicle)

35

Mid-term Business Plan Yorozu Sustainability Plan 2023

Advancement of Corporate Governance© YOROZU CORPORATION. 2022 All Rights Reserved.

36

18

Advancement of Corporate GovernanceTransition to TSE Prime Market
Initiatives to Strengthen Governance Structures of the Board of
Directors and Committees
・Board of Directors①Outside directors: 4 out of 9・Compensation & Nominating Committees①The chair is an outside director②Outside directors: 4 out of 7

 Constructive Dialogue with
Investors

・Interview with institutional investors
・Planning a virtual shareholder meeting(participation type) - An open meetingproviding opportunities for dialogue withshareholders

To explore sustainable growth and enhance mid- andlong-term corporate value, we build robust governanceand maintain constructive dialogue with investors.
© YOROZU CORPORATION. 2022 All Rights Reserved.

37

Ⅰ. Financial Summary
Ⅱ. FY2021 Results
Ⅲ. FY2022 Forecast
Ⅳ. FY2022 Activities
Ⅴ. Shareholder Return© YOROZU CORPORATION. 2022 All Rights Reserved.

38

19

Ⅴ. Shareholder Return271.5%
Dividends were paid as announced although
the profit fell on an impairment loss
60%

（Yen/Share）
100
51.6%
75

26yen

0

58yen

51yen 35.5%

35.4%

20.1%

50

25

53yen

20yen

10.2%

7.6%

5

40

34

10

11

10

10

11

2012

2013

2014

Interim dividend

18
19

40

59yen

18
2015

2016

Year-end dividend

45%

46yen

Dividend payout
ratio “-”due to net loss

35.6%

35.7%

30%

33yen
16

25

2017

23

25yen
13yen

13yen

12

13

7
6

16

2019

2020

2021

2022

23

2018

17

13

Memorial dividend

15%

0%

Dividend payout ratio

Forecast

We strive to ensure sustainable shareholder returns having set
the dividend payout ratio at 35% or more.
39© YOROZU CORPORATION. 2022 All Rights Reserved.

- End -

40

20

FY2021

Financial Results

Thank you for your attention

Yorozu website
http://www.yorozu-corp.co.jp© YOROZU CORPORATION. 2022 All Rights Reserved.

41

Disclaimer and Copyright
The financial forecasts, future forecasts, strategies and other statements in this material
are established based on judgments made within reasonable forecasts, according to theinformation available to the company at the time this material was prepared. However,there are risks and uncertainties in these forecasts, which could be caused by any special
circumstances and situations that cannot be foreseen. Therefore, actual results may differ
substantially from these forecasts.
Our company is fully committed to disclosing all information that we believe important toinvestors. However, investors are requested to refrain from making decisions based solely
on these forecasts and statements contained within this material.
It is strictly prohibited to reproduce any part of this material in any form, including
photocopying or forwarding, for any purpose without the prior consent of the company.
Contact Us
Yorozu Corporation
Person responsible: Akira SASO, Member of the Board
Contact personnel: Yoshitake TAKAHASHI, Manager, Accounting Dept.
TEL 045-543-6802© YOROZU CORPORATION. 2022 All Rights Reserved.

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