2023/10/24

FY2022 Financial Results
Tsutomu Hiranaka, President & COO
This is an internal English translation of the YOROZU FY2022 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)

Contents

Ⅰ. Financial Summary
Ⅱ. FY2022 Results
Ⅲ. FY2023 Forecast
Ⅳ. FY2023 Initiatives
Ⅴ. Shareholder Return© YOROZU CORPORATION. 2023 All Rights Reserved.

2

1

2023/10/24

Financial Summary
FY2022
Results

 Full-year profits increased by 1.5 times year-on-year
benefitting from profit kaizen measures in the second half.

FY2023
Forecast Main customers’ output volume will be on par with thepreceding year as seen in the market trend.
 Profits will increase year-on-year, driven by streamlining
efforts despite cost rises in new Tokai plant andelectrification.
 The company keeps focusing on YSP2023 Mid-term
Business Plan and will launch further growth initiative.

 Financial health was maintained by adequately-planned fundraising.

Shareholder  FY2022 year-end dividend per share: JPY18.00
FY2022 annual dividend per share: JPY25.00
Return(FY2021 annual dividend per share: JPY13.00)
FY2022 dividend payout ratio: 42.4%
 FY2023 annual dividend per share: JPY26.00 (plan)
FY2023 dividend payout ratio: 42.0% (forecast)© YOROZU CORPORATION. 2023 All Rights Reserved.

3

Contents

Ⅰ. Financial Summary
Ⅱ. FY2022 Results
Ⅲ. FY2023 Forecast
Ⅳ. FY2023 Initiatives
Ⅴ. Shareholder Return© YOROZU CORPORATION. 2023 All Rights Reserved.

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2023/10/24

FY2022 Consolidated Financial Summary(Year-on-Year)
Million yen
Sales

FY2021

FY2022

FY2022Year-on-Year

LatestForecast*2

AgainstLatestForecast

127,316

160,560

26.1%

160,000

0.4%

Operating Income

2,096

3,088

47.3%

2,500

23.5%

Ordinary Income

2,284

2,992

31.0%

2,400

24.7%

876

1,422

62.3%

950

49.7%

Net Income*1*1 Net Income attributable to parent company shareholders

FY2021A

FY2022B*2 Estimated figures as of Mar.22, 2023

Difference
B-A

Percentage
of Change

Net Income per Share

36.55 yen

59.00 yen

22.45 yen

61.4%

Exchange Rate Applied

109.90 yen/$

131.62 yen/$

21.72 yen/$

19.8%






Sales: Increased as steel prices rose and exchange rate fluctuated with weak yen
Operating income: Increased by streamlining efforts and recovery of partial energy costs
Ordinary income: Increased as operating income was raised
Net income: Increased as ordinary income was raised and tax burden was reduced

5© YOROZU CORPORATION. 2023 All Rights Reserved.

Consolidated Sales by Customer(FY2021 vs. FY2022)

Million yen
180,000

Customer

FY2021(%)

FY2022(%)

Nissan Gr *78,015

61.3%

98,112

61.1%

Honda
+3,950（+43.9％）21,095

16.6%

25,234

15.7%

8,999

7.1%

12,9498.1%+4,139Isuzu（+19.6％）

5,093

4.0%

7,814

4.9%

Mazda

3,060

2.4%

3,498

2.2%

+20,097（+25.8％） Kubota

2,882

2.3%

2,626

1.6%

160,560
160,000

140,000

127,316
Toyota120,000

100,000

Toyota

Honda

Honda

Toyota Gr

80,00060,00040,000Million yen

NissanNissan

VW

1,857

1.5%

2,391

1.5%

Mercedes Benz

1,994

1.6%

2,386

1.5%

Suzuki

1,593

1.3%

2,319

1.4%

Others

2,728

1.9%

3,231

2.0%

Total

20,000127,316 100.0%

160,560 100.0%* Includes sales to Renault and Mitsubishi

 Sales increased with most of customers YoY.

0

FY2021 actual

FY2022 actual© YOROZU CORPORATION. 2023 All Rights Reserved.

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Analysis of Impact on Consolidated Operating Income(FY2021 vs. FY2022)

Million yen
7,000Transient effectin FY22

6,000

293

631

5,000

Marketeffect, etc.

27

Consolidation Exchange
adjustments rate effect1,267
Depreciation

1,124

977

4,000

Die
equipment

Sales
increase
3,000

584

1,745

2,000

Cost-saving
efforts

3,088

2,096

1,000

0

FY2021 results

Operating income (+992)

FY2022 results

Profit growth was driven by steady streamlining efforts and recovery of partial
energy costs.
7© YOROZU CORPORATION. 2023 All Rights Reserved.

Sales and Operating Income by Region FY2021 vs. FY2022

Before Consolidation Adjustment◆SalesJapan

The Americas

Asia

Million yen+13,419+35.8％+12,120+26.3％+8,711+17.2％

100,000
50,000037,478FY21◆Operating Income
Million yen

4,000
2,000

50,897FY22+1,197+110.0％1,088

46,134FY21

58,254

FY22

-243
--％

2,285

50,541

FY21

Difference/% of Change

59,252

FY22

+22
+1.4％
1,600

1,622

FY21

FY22

0
(2,000)

FY21

FY22

(909)

(1,152)

FY21

FY22

 Japan: An increase in sales and profit was posted, led by a rise in production volume and royalty.
 The Americas: Foreign exchange rates helped overcome the decreased production volume andbring a sales increase but profits went down.
 Asia: Sales increased, led by a steel price hike and foreign exchange effects. A small rise inoperating income was posted due to compensation of production equipment.
© YOROZU CORPORATION. 2023 All Rights Reserved.

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Financial Standing for the year ended March 31, 2023
(Million yen）

Mar. 31, 2022 A

Mar. 31, 2023 B

57,03963,630

42.6%

45.0%

--

--

Net Worth
Equity Ratio
D/E ratio

Interest-bearing Debt
NET D/E ratio

Net Interest-bearing Debt

6,591

11.6%

0.60

34,2590.52

32,835(1,424)(4.2)%

0.09

5,392

0.14

9,217

3,825

70.9%

141,511

7,519

5.6%

Total Assets(Million yen)

Difference (B-A)

133,992
FY2021
Full Term A

FY2022
Full Term B

Difference (B-A)

Cash Flow fromOperating Activities

14,914

2,924(11,990)

Cash Flow from
Investing Activities(4,536)(5,164)(628)--

Cash Flow from
Financing Activities(13,816)(4,819)8,997--(80.4)%

D/E ratio remains stable based on the properly-planned fund raising.
9© YOROZU CORPORATION. 2023 All Rights Reserved.

(Reference) Consolidated Balance Sheet Summary
For the year ended March 31, 2023
Cash & bank deposit

Million yen

Mar. 31,2022 A

Mar. 31,2023 B

Difference
B-A

Current Assets

66,47572,582

6,107

Fixed Assets

67,51668,928

1,412

133,992

141,511

7,519

Current Liabilities

44,59244,393(199)

Fixed Liabilities

19,021

19,677656

63,61364,071

458

Shareholders’ Equity

61,761

62,961

1,200

Other Accumulated
Comprehensive Income(4,721)

668

5,389

Non-controlling Interest,
etc.

13,33813,809471

70,37877,439

7,061

133,992

141,511

7,519

Total Assets

Total Liabilities

Total Net Assets
Total Liabilities and Net Assets© YOROZU CORPORATION. 2023 All Rights Reserved.

Inventories
Other current assets(5,249)
4,925
4,972
660

Tangible fixed assets
Deferred tax assets

1,731
(278)

Notes & accounts receivable

Notes and accounts payable
Electronically recorded
obligations
Short-term debts
Long-term debts due within
1 year
Accrued expenses

(864)
1,643
1,915
(3,931)
1,034

Long-term debts
Retirement benefit
obligations

1,284

Net income
Dividend payment

1,422
(337)

Other securities valuationdifference
Foreign currency translation
adjustment

(318)

269
4,940

10

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2023/10/24

Contents

Ⅰ. Financial Summary

Ⅱ. FY2022 Results
Ⅲ. FY2023 Forecast
Ⅳ. FY2023 Initiatives
Ⅴ. Shareholder Return

11© YOROZU CORPORATION. 2023 All Rights Reserved.

Consolidated Financial Forecast Summary for FY2023
Million yen
Sales

FY2022
Actual A

Sales
Ratio

FY2023
Forecast B

160,560 100.0％

Sales
Ratio

Difference

B-A

160,000 100.0%

Percentage
of Change(560)(0.3)%

Operating Income

3,088

1.9％

3,200

2.0%

112

3.6%

Ordinary Income

2,992

1.9％

2,700

1.7%

(292)

(9.8)%

1,422

0.9％

1,500

0.9%

78

5.5%

Net Income*1*1

Net income attributable to the parent’s shareholders

FY2022 ActualA

FY2023 Forecast
B

Difference
B-A

Percentage
of Change

Net Income per Share

59.00 yen

61.91 yen

2.91 yen

4.9%

Exchange Rate Applied

131.62 yen/$

130.00 yen/$(1.62) yen/$(1.2)%

 Sales are expected to be on par with the previous term despite possible
market recovery.
 Thanks to streamlining efforts, operating income is expected to increaseyear-om-year even with expenses for business growth.
© YOROZU CORPORATION. 2023 All Rights Reserved.

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Consolidated Sales by Customer(FY22 Results vs. FY23 Forecast)Million yen
180,000

160,560

160,000

140,000

ToyotaToyota120,000

Honda

Honda

100,000
80,000+3,873+29.9%-4,882-19.3％-1,838-1.9％

60,000

NissanFY2022(%)

FY2023(%)*

98,112

61.1%

96,274

60.2%

Honda

25,23415.7%

20,352

12.7%

Toyota Gr

12,9498.1%

16,822

10.5%

Isuzu

7,814

4.9%

8,131

5.1%

Kubota

2,626

1.6%

3,459

2.2%

Mazda

3,498

2.2%

3,270

2.0%

VW

2,391

1.5%

2,867

1.8%

Mercedes Benz

2,386

1.5%

2,372

1.5%

Suzuki

2,319

1.4%

2,255

1.4%

Others

3,231

2.0%

4,198

2.6%

Nissan Gr

160,000

Nissan40,000Total

20,000Million yen

Customer

160,560 100.0% 160,000 100.0%* Includes sales to Renault and Mitsubishi

0

FY2022 actual

FY2023 forecast

 Sales to Toyota increased as the contract was awarded
for new model vehicles.
Its composition ratio exceeded 10% for the first time.
13© YOROZU CORPORATION. 2023 All Rights Reserved.

Analysis of Impact on Consolidated Operating Income(FY22 Results vs. FY23 Forecast)Million yen
6,000Transient effectin FY225,000

300
Dies andequipment

4,000

300

Consolidation
Adjustment

631

1,400

1,543

3,000

Cost-saving
efforts

Expenses forfurther growth

2,000

3,200

3,088
1,000

0

FY2022 results

Operating income (＋112)

FY2023 forecast

We expect operating income to increase thanks to continuous
streamlining efforts with a prediction of expenses for business growth.
© YOROZU CORPORATION. 2023 All Rights Reserved.

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Before Consolidation Adjustment
FY22 Results vs. FY23 Forecast◆SalesMillion yen

100,000Japan

The Americas

Asia+11,332+22.3％+5,158+8.9％-13,648-23.0％

50,89750,00062,22958,254

63,412

59,252

FY23

FY22

FY23

FY22

Difference/% of Change

45,6040
FY22◆Operating Income＋1,423--％+1,313+57.5％

Million yen

5,000

2,285

-2,256
--％

3,598

1,622

271

0

(634)

(1,152)(5,000)

FY22

FY23

FY22

FY23

FY23

FY22

FY23

Japan: Expecting an increase in sales and profit benefitting from a rise in production volume
The Americas: Aiming surplus built on an increase in production volume in the US and Mexico
Asia: Expecting a decrease in profit due to uncertainty in the Japanese car makers’ sales





15

© YOROZU CORPORATION. 2023 All Rights Reserved.

Capital Investment and Depreciation
Capital Investment by Region

Depreciation by Region

Million yen
25,000Japan

The Americas

Asia

Japan

The Americas

Asia

20,78320,00015,00012,522
11,216

10,246

10,000

9,880
8,903

7,219
5,000

9,372

6,997
3,367

0
FY19

FY20

FY21

© YOROZU CORPORATION. 2023 All Rights Reserved.

FY22

FY23

FY19

FY20

FY21

FY22

FY23
16

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2023/10/24

Contents

Ⅰ. Financial Summary
Ⅱ. FY2022 Results
Ⅲ. FY2023 Forecast
Ⅳ. FY2023 Initiatives
Ⅴ. Shareholder Return

17© YOROZU CORPORATION. 2023 All Rights Reserved.

Topics in FY2022
Topics in FY2022

PolicyESG Management

GeneralEnvironmental●Issued Yorozu Integrated Report (August)●Switched to 100% green power at Yorozu Oita (March), Yokohama-HQ (July),
Shonai Yorozu & Yorozu Engineering (November)●Received Kanagawa Renewable Energy User Certificate (September)●Revised Yorozu Green Procurement Guidelines (June)●Disseminated Yorozu Sustainability Guidelines 1st edition to suppliers (August)●Developed carbon neutrality strategies of the new Tokai Plant

Social●Advanced Workstyle Reform to Employee Engagement Reform●Promoted co-coexistence with the local community

Governance●Organized an online general shareholders meeting (June)●Established a supplier hotline operated by a third-party service provider (October)DX●Promoted digital transformation (DX) in manufacturing

Stable Profits●Strengthened efforts to ensure stable profits●Expanded the application of unique technologies that flexibly adapt to changes in
production

New
Technologies
and Methods●Through LCA approach, established CO2 reduction technology that
contributes to society and customers●Expanded sales based on customer/product/region axes

© YOROZU CORPORATION. 2023 All Rights Reserved.

18

92023/10/24

Key Initiatives for FY2023
Next Mid-term Business Plan (FY2024–FY2026)

Build and pave the way for Yorozu’s growth strategy anddemonstrate our solid presence in this age of electrification
Strategy for growthFoundation for growthCore of our growth

E: Environmental consideration➨➨

Carbon neutrality

S: Social responsibility

Mid-term
Business PlanYSP2023(Stable Profits)

Diversity
G: Transparency and dialog withstakeholders

New technologies
and methods, andsales expansion

Proactive strategy➨

New plant in Tokai
district© YOROZU CORPORATION. 2023 All Rights Reserved.

19

Yorozu Sustainability Plan 2023 Mid-term Business Plan

New Technologies/Methods
and Sales Expansion© YOROZU CORPORATION. 2023 All Rights Reserved.

20

102023/10/24

Development of New Technologies/Methods
The Direction We are Heading■Strengthen our capabilities to propose steel products that
contribute to the reduction of CO2 emissions
・ARM with a new stamping structure
・Material replaced ARM・New burring design structure
・Multi-material structure■Lighter weight products using ultra high-tensile strength
materials (980 MPa class）■Meet the requirements for the quietness of EVs

YSP2023

YSP2020
FY2018-FY2020 ▼-15%

FY2021

FY2022▼-23%
Achieved

FY2023

▼

▼

-30%

-26%
Achieved

PlannedWeight reduced by 30% or more
21

© YOROZU CORPORATION. 2023 All Rights Reserved.

Development of New Technologies/Methods – Examples■Patented Technologies that contribute to reducing CO2 emissions
Patented
Technology

ARM with new stamping structure(Weight cut by 11%, CO2 reduced* by 2.0K tons)

Succeeded in forming the product from a single sheet metal,
which used to be made by welding component parts

Patented
Technology

Material replaced ARM(CO2 reduced* by 28.1K tons)

By replacing aluminum parts with steel,rigidity has increased while reducing CO2
emissions in the steel making process

Toyota Prius（HEV/PHEV）
Rear lower arm

Lexus RX（HEV/PHEV）

Nissan Serena (e-POWER)

Rear lower arm

Front lower arm© YOROZU CORPORATION. 2023 All Rights Reserved.

*Estimate based on model life of 6 years, 200K units/year

22

112023/10/24

Development of New Technologies/Methods – Examples
ARM with new stamping
structure

Patented
Technology

Patented
Technology(CO2 reduced* by 28.1K tons)
Int’l patent number WO2022/070248 A1(Weight cut by 11%, CO2 reduced* by 2.0K tons)

Int’l patent number WO2022/185525 A1

Key
point

Key
point

Weight reduction◆Conventional partThree separate
parts arewelded◆Newly developed partA single sheet metal
is stamped andprocessed

Succeeded in forming the product from asingle sheet metal, which used to be madeby welding component parts such as pipematerials

Material replaced ARM

Steel products with rigidity
equal to aluminum◆Newly developed part
Welded part with unique
new structure◆Conventional part
Aluminum forging
part

By replacing aluminum parts with steel,rigidity has increased while reducing CO2
emissions in the steel making process

These technologies will be applied to additional models.
Further sales expansion activities are in progress.
© YOROZU CORPORATION. 2023 All Rights Reserved.

*Estimate based on model life of 6 years, 200K units/year

23

Development of New Technologies/Methods
Weight reduced by using (980 MPa class) ultra high-tensile materials

Ourstrength◆Application expanded to include mid-/large-size vehicles throughour well-established technology in thick sheet metal processing◆Our global production sites are equipped with large stamping
presses capable of meeting the production requirements➡Market launch scheduled in FY2023
Production sites with 1000t - 3500t large press machines

G-YBM
W-YBM

Yorozu Tochigi (YT)
Yorozu Oita (YO)
Yorozu Engineering (YE)

YAT
YAA

TimingFY2023Item

ARM made of ultra high-tensile
steel sheet (980 MPa class)

Point ofdevelopment

YMEX
YAGM

YJAT

Technical contribution with steel products

Market launch scheduled

Weight

※ CO2
YTC

YAI

© YOROZU CORPORATION. 2023 All Rights Reserved.

Development in the technology ofpress-forming and welding ultra
high-strength materials enabling
the use of thinner steel sheets

YAB

emissions*

Reduced by 15%(from 9.20 kg to 7.82 kg)
Reduced by 40.7K tons

*Estimate based on model life of 6 years, 200K units/year

24

122023/10/24

Development of New Technologies/Methods
Responding to a higher level of quietness required of EVs
Internal
combustion engine
vehiclesEngineEVs(Heavier vehicle weight)

Motor

Fuel tankBattery

Muffler

Controller

Functions required of parts

Lighter in weight
Improved quietness
Sound and vibration
specific to EVs andissues to be solved
・Tire noise・Wind noise・High-pitch squealing
・Micro vibration, etc.
while driving

We are on the path to establishing technologies that ensure
the precise control of sound and vibration by working
extensively on the development of elemental technology.
25© YOROZU CORPORATION. 2023 All Rights Reserved.

Development of New Technologies/Methods

New approach as we look beyond YSP2023
Changes in the global
automotive environment
Demand for
new cars

Less demand
for new cars

（mainly ICE, HEVs
and shift to EVs)

(EVs to accountfor half of total
demand)Up to around 2030

By around 2040

・The ratio of EVs will increase as we movetoward a carbon-free society.
・Car ”owning” shifts to car “sharing” as MaaS
gains momentum.
Build a collaboration system encompassing
joint development projects based on selfdeveloped technology

Opportunities
・Higher level of technicalrequirements for EVs(weight, noise, vibration)

・Increase of parts related toelectrification of vehicles

Threats
・Decline in car production
volume・Structural shift in theindustry (vertical ⇒ horizontal)© YOROZU CORPORATION. 2023 All Rights Reserved.

◆Step up the technology of applying
ultra high-tensile materials (980 MPa)
◆Develop new items for automotive parts◆Develop new items from new materials◆Go into non-automotive parts business26

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2023/10/24

Contribution to Electrification of Society, Sales Expansion
Customer axis

Product axis

Region axis

Stable customer baseProducts for EVs

Mainly Japan, China
and the U.S.

Strengthen marketing of products for EVs
Nissan Ariya(BEV)

Nissan Sakura(BEV)

Nissan X-Trail(e-POWER)

Nissan Serena(e-POWER)

Mitsubishi eK X EV
(BEV)

Mitsubishi Delica Mini
(HEV)

27

© YOROZU CORPORATION. 2023 All Rights Reserved.

Contribution to Electrification of Society, Sales Expansion
Toyota bZ4X
(BEV)

Toyota Prius(HEV/PHEV)

Lexus RZ
(BEV)

Lexus RX(HEV/PHEV)

Subaru Solterra(BEV)

Mazda CX-60(PHEV)

Honda Accord(HEV)© YOROZU CORPORATION. 2023 All Rights Reserved.

Lexus RX(HEV/PHEV)

28

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2023/10/24

Contribution to Electrification of Society, Sales Expansion
Venucia e30(BEV)

Nissan Ariya(BEV)

Dacia Spring(BEV)

GAC Honda e:NP1(BEV)

Dongfeng Honda e:NS1(BEV)

Dongfeng EV EX1
PRO SUV (BEV)GAC Toyota bZ4X
(BEV)

29

© YOROZU CORPORATION. 2023 All Rights Reserved.

Contribution to Electrification of Society, Sales Expansion
The new Tokai plant will play a key role in our sales activities
We are committed to working on the four initiatives to ensure
the Group’s competitive edge in the sales expansion activities.
Vision of the new plant (the four initiatives)
Give full attention to theenvironment

Contribute to electrification
with quality products

Co-exist with thecommunity

Establish a sales base that
ensures CS and ES

EVs with Yorozu Aichi products
Toyota bZ4X

Subaru Solterra

2021© YOROZU CORPORATION. 2023 All Rights Reserved.

2024

2027 onwards

Fiscal
Year

30

15

2023/10/24

Yorozu Sustainability Plan 2023

Mid-term Business Plan

Promotion of Carbon Neutrality

31© YOROZU CORPORATION. 2023 All Rights Reserved.

Roadmap to Carbon Neutrality
March 2023▼

March 2024▼

YSP2023∥

April 2022
▼

2030
▼

2040

∥

May 2021▼▼

Next mid-term plan onwards

Accumulated reduction
Scope 1 and 2

Supplier

Actualvs. 2013

Scope 3
Material
Procurement

Scope 2

4 domestic sites

50%

100%

6 domestic sites (all)New Tokai plant

Green power
Solar power
generation

Overseas sites

Scope 1

New Tokai plant

Fuel**Existing sites

CN* heat source
Customer

15%

Collaborate with raw material makers and part suppliersElectricity
Yorozu

12%

7%

Plan

Scope 3
Product Use

Promote development of products that help reduce
customers’ CO2 emissions© YOROZU CORPORATION. 2023 All Rights Reserved.

*Carbon neutral**Specific efforts are explained in the next page32

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Working Toward Carbon Neutrality
Scope 1: Low carbonization of boilers at the existing sites
Scope 1Fuel
CN* heatsource◆New Tokai plant (100% carbon neutral)
Gas is replaced with green power as the heat sourcefor painting facilities◆Existing sites (domestic)
Step 1: Shift to LNG as a low carbon solution*Carbon neutral【Reducing CO2 emissions from the use of fuel】

Step 1: Low
carbonization

33© YOROZU CORPORATION. 2023 All Rights Reserved.

Yorozu Sustainability Plan 2023

Mid-term Business Plan

Diversity© YOROZU CORPORATION. 2023 All Rights Reserved.

34

172023/10/24

Diversity: Business and Human Rights
Human Rights Due Diligence
Objective

To fulfill social responsibility to avoid or mitigate adverse
impacts on human rights◆Due Diligence Process◆Organization
Human Rights Due Diligence Committee① Prepare and disseminate
human rights policies

Hiranaka-President② Identify the company’s
potential risk

Haruta-EVP Kume-EVP③ Take relief measures

Secretariat④ Identify and evaluate
impacts⑤ Take corrective action

Function Group Chairman & Regional Department Head

◆Monitoring System⑥ Prevent and mitigate

Board of Directors⑦ Track and observe⑧ Disclose information

ReportSupervise*Compliant with OECD Due Diligence Guidance

Human Rights Due Diligence Committee© YOROZU CORPORATION. 2023 All Rights Reserved.

35

Diversity: Hiring, Development & Empowerment

Women’s
Advancement
Men’s Parental
Leave

FY22

FY23

・Platinum Eruboshi certification (continuing)
・Women interview
・Training for women executive candidates・Career development training for non-managers

・Platinum Eruboshi
certification (continuing)
・Career development training(engineering)・Manager training for understanding promotion
・Creation of working environment

・Application for Kurumin
certification (April)・Interview with applicants

Launching Talent Management System
Empowerment

Engagement

Training

Hiring

 Employee profile Evaluation record One-on-one meeting
record Training record
 Employee satisfaction
survey record

Increase human capital value
in adherence withManagement Strategy

We will make ceaseless efforts to create a better workplaceso that every employee wants to continue working at Yorozu
and feels proud to be a part of it.
© YOROZU CORPORATION. 2023 All Rights Reserved.

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Contents

Ⅰ. Financial Summary
Ⅱ. FY2022 Results
Ⅲ. FY2023 Forecast
Ⅳ. FY2023 Initiatives
Ⅴ. Shareholder Return

37© YOROZU CORPORATION. 2023 All Rights Reserved.

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

（Yen/Share）
100
51.6%
75

53yen
51yen

58yen

35.5% 35.4%

20.1%

50
26yen

40

18
19

40

20yen 10.2%
25

7.6%
10

0

10

45%

59yen

46yen

26yen
16

23

5
34

11
10

18

11

2012 2013 2014
Interim dividend

42.4% 42.0%
Dividend payout
ratio “-”due to net loss 35.6%30%

252015 2016 2017
Year-end dividend

23

25yen

25yen
15%

13

13yen

13yen

12

13

7
6

2018 2019 2020
Memorial dividend

18
7

13
13

0%
2021 2022 2023 Forecast
Dividend payout ratio

Our shareholder return policy rests on dividend payment.
We strive to ensure sustainable shareholder returns with the dividend payout
ratio at 35% or more.
© YOROZU CORPORATION. 2023 All Rights Reserved.

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－End－

39

FY2022Financial Results

Thank you for your attention

Yorozu English website
https://www.yorozu-corp.co.jp/en/© YOROZU CORPORATION. 2023 All Rights Reserved.

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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
to investors. However, please refrain from making decisions based solely on these
forecasts and statements contained in 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: Norio Hirano, Member of the Board (EVP & CFO)
Contact personnel: Manabu Ozawa, Manager, Accounting Dept.
TEL 045-543-6802© YOROZU CORPORATION. 2023 All Rights Reserved.

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