FY2022 First Half Financial Results
Tsutomu Hiranaka, President & COO
Yorozu Corporation
This is an internal English translation of the YOROZU FY2022 First Half 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.

Tokyo Stock Exchange Prime Market (Securities Code: 7294)© YOROZU CORPORATION. 2022 All Rights Reserved.

1

Contents

Ⅰ. FY2022 Second Quarter Financial Summary
Ⅱ. FY2022 First Half Results
Ⅲ. FY2022 Annual Forecast

Ⅳ. Progress of FY2022 Approaches
Ⅴ. Shareholder Return© YOROZU CORPORATION. 2022 All Rights Reserved.

2

1

FY2022 Second Quarter Financial Summary
1H Results[Year-on-year]

Increase in both sales and profits
Sales ＋19.8％
Operating income ＋95.7%

FY2022 Outlook[Year-on-year]

Increase in sales and decrease in profits
Sales +30.4％
Operating income -14.1%[Difference from latest forecast] Revised downward
Sales +10.7%
Operating income -52.0%
Investment set in YSP2023 is made as planned
Shareholder Return
Interim dividend (actual): 7 yen（increased by 1 yen year-on-year）
Final dividend (forecast): 7 yen[Interim] +1 yen (YoY)[Final]ー (YoY)-9 yen（difference from forecast）-10 yen（difference from forecast）© YOROZU CORPORATION. 2022 All Rights Reserved.

3

Contents

Ⅰ. FY2022 Second Quarter Financial Summary

Ⅱ. FY2022 First Half Results
Ⅲ. FY2022 Annual Forecast
Ⅳ. Progress of FY2022 Approaches
Ⅴ. Shareholder Return© YOROZU CORPORATION. 2022 All Rights Reserved.

42

Consolidated Financial Summary for 1H FY2022 (Year-on-Year)

Million yen

Sales

1H FY211H FY22

LatestForecast for1H FY2022*2

Year-on-Year

AgainstLatestForecast

60,04971,966+19.8%

71,200+1.1%

Operating Income

277

542

+95.7%

600-9.7%

Ordinary Income

307

779

+153.3%560+39.1%Net Income *1

-129

314

ー

380

-17.4%*1 Net income attributable to parent company shareholders*2 Estimated figures as of August 4, 2022

1H FY2021
A

1H FY2022
B

Difference
B-A

% of
ChangeNet Income per Share-5.41 yen

13.07 yen

+18.48 yenーExchange Rate Applied toConsolidated Statements

107.82 yen/$

123.20 yen/$+15.38 yen/$+14.3%

 Sales: Increased as steel prices rose and exchange rate fluctuated with weak yen
 Operating income: Increased by yosedome production and slimmed fixed costs
 Ordinary income: Resulted in further surplus due to exchange rate fluctuations
 Net income: Shifted to surplus from the net loss in the previous term
5

© YOROZU CORPORATION. 2022 All Rights Reserved.

Consolidated Sales by Customer (1H FY21 vs. 1H FY22)
Million yen

Million yen
80,00071,96670,00060,04960,00050,00040,000ToyotaToyota

Honda

Honda

30,00020,000

NissanNissan10,000

FY2021(%)

FY2022(%)*

37,065

61.7%

43,766

60.8%

Honda Gr
+1,455（+35.9％）

9,832

16.4%

11,462

15.9%

4,049

6.7%

5,504

7.6%

+1,630Isuzu（+16.6％）

2,603

4.3%

3,547

4.9%

Mazda

1,436

2.4%

1,608

2.2%

+6,701（+18.1％） Kubota

Toyota Gr

1,379

2.3%

1,323

1.8%

Mercedes Benz

949

1.6%

1,131

1.6%

Suzuki

676

1.1%

1,070

1.5%

VW

825

1.4%

1,039

1.4%

Others

1,235

2.1%

1,516

2.3%

Total

60,049 100.0%

71,966 100.0%* Includes sales to Renault and Mitsubishi

0(Actual) 1H FY2021

Customer
Nissan Gr

1H FY2022© YOROZU CORPORATION. 2022 All Rights Reserved.

 Sales increased with most of customers YoY.
 The composition ratio of Nissan fell down as thesales to Toyota and others expanded.

63

Analysis of Impact on Consolidated Operating Income(1H FY21 vs. 1H FY22)

Million yen
2,500

Decreaseinvolume

2,000

100

269
1,500

Consolidation
adjustment

Exchange
rate
Marketeffect impact,
etc.
110

235

Depreciation

1,000

347

1,251

Decrease in new
vehicle volume (effecton sales composition)

656

Die &
equipment

7

500

277
0

542

Cost-saving
efforts

1H FY2021
Actual1H FY2022
ActualOperating Income (+265）

Despite a global price hike and decrease in new vehicle volume in China,
profit has grown in 1H of FY2022 after consistent efforts on reducing
depreciation and other fixed costs and cost effective measures
7© YOROZU CORPORATION. 2022 All Rights Reserved.

Sales and Operating Income by Region (Before Consolidation Adjustment, 1H FY21 vs. 1H FY22)◆SalesMillion yen

40,00020,0000Japan

AmericasAsia+5,345+32.6％+3,369+14.2％+4,023+17.9％

16,396FY21◆Operating Income
2,000

FY22

FY21

27,035

FY22

+117
--％

977

1,000

-1,00023,666+1,098--％Million yen

021,741

-121
FY21

FY22

22,522Difference/% of Change

26,545

FY21

FY22

-867
--％
730

-546

-429

FY21

FY22

-137
FY21

FY22

 Japan: A rise in part & die sales and royalty fees brought increase in both sales and profits.
 Americas: Exchange rates helped overcome output falls and raised sales. Operating loss
shrunk thanks to cost-saving efforts.
 Asia: Market recovery and weak yen pushed up sales but cost savers failed to absorb
decrease in new vehicle volume and profit dropped.
© YOROZU CORPORATION. 2022 All Rights Reserved.

8

4

Financial Standing for the First Half of FY2022
Difference (B-A)(Million yen)Mar. 31, 2022 A

Sep. 30, 2022 B

Net Worth

57,03963,119+6,080

42.6%

43.1%

--

--

Equity Ratio+10.7%

D/E Ratio

Interest-bearing Debt
NET D/E Ratio

Net Interest-bearing Debt

0.60

34,2590.52

32,823-1,436

-4.2%

0.09

5,392

0.03

1,767

-3,625-67.2%

146,443+12,451+9.3%

Total Assets(Million yen)

133,992
1H FY2021 A(Accumulated)

1H FY2022 B(Accumulated)

Difference (B-A)

Cash Flow fromOperating Activities

10,6695,122-5,547-52.0%Cash Flow from
Investing Activities-3,902

-814

3,088

--

Cash Flow from
Financing Activities-7,188-5,233

1,955--

The net interest-bearing debt and net D/E ratio decreased while
cash reserves were kept. FCF was positive.
9© YOROZU CORPORATION. 2022 All Rights Reserved.

(Reference) Consolidated Balance Sheet Summary 1H FY2022

Million yen

Mar. 2022 A

Sep. 2022 B

Diff. B-A
Cash & bank deposit+2,190Current Assets

66,47575,737+9,262

Fixed Assets

67,51670,705+3,189133,992

146,443+12,451

Tangible fixed assets +3,092

Current Liabilities

44,592

51,295+6,703

Notes and accounts payable+1,026

Fixed Liabilities

19,021

17,674-1,347

Total Assets

Notes & accounts receivable+1,718

Inventories
Other current assets+3,527+1,892+735+650+3,662

Electronically recorded obligations

Short-term debts
Other

63,61368,969+5,356

Shareholders’ Equity

61,761

62,022+261

Accumulated Other
Comprehensive Income-4,721

1,096+5,817

Non-controlling Interests, etc.

13,33814,353+1,01570,37877,473+7,095

Valuation difference on availablefor-sale securities-211

133,992

146,443+12,451

Foreign currency translation
adjustment+6,663

Total Liabilities

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

Long-term debts
Retirement benefit obligations

Net income
Dividend payment-1,897
+752
+314
-168

10

5

Contents

Ⅰ. FY2022 Second Quarter Financial Summary
Ⅱ. FY2022 First Half Results
Ⅲ. FY2022 Annual Forecast
Ⅳ. Progress of FY2022 Approaches
Ⅴ. Shareholder Return

11© YOROZU CORPORATION. 2022 All Rights Reserved.

FY2022 Consolidated Financial Forecast Summary
Million yen

FY2021
ActualA

FY2022
Forecast
B

127,316

Sales

Difference

FY2022(Year-on-Year)

Forecast*2

B-A

C

166,000 (+30.4％) +38,684

Difference

B-C

150,000

16,000Operating Income

2,096

1,800 (-14.1％)

-296

3,750

-1,950Ordinary Income

2,284

1,800

(-21.2％)

-484

3,600

-1,800940 (+7.3％)

+64

2,230

-1,290Net Income *1

876*1 Net income attributable to the parent’s shareholders*2 Estimated figures disclosed on Aug. 4, 2022

FY2021 ActualA

FY2022 Forecast
B

Difference
B-A

% of
Changes

Net Income per Share

36.55 yen

38.99 yen

＋2.44 yen

+6.7%

Exchange Rate Applied toConsolidated Statements

109.90 yen/$

133.00 yen/$+23.10 yen/$+21.0%

 Sales: Expected to increase due to exchange rate effect and raw material
price rise Operating income: Expected to decrease because of global price hikes anddecrease in new vehicle volume© YOROZU CORPORATION. 2022 All Rights Reserved.

126

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

Million yen

Customer

FY2021(%)

FY2022(%)*

Nissan Gr

78,01561.3%

100,906

60.8%

Honda Gr

21,095

16.6%

26,045

15.7%

Toyota Gr

8,999

7.1%

13,256

8.0%

Toyota

Isuzu

5,093

4.0%

7,640

4.6%

Honda

+4,950（+23.5％） Mazda

3,060

2.4%

3,863

2.3%

Kubota

2,882

2.3%

2,864

1.7%

VW

1,857

1.5%

2,862

1.7%

1,994

1.6%

2,346

1.4%

Suzuki

1,593

1.3%

2,154

1.3%

Other

2,728

1.9%

4,064

2.5%

200,000

166,000

180,000
160,000
140,000+4,257(+47.3%)

127,316

120,000

Toyota100,000

Honda+22,891（+29.3％） Mercedes Benz

80,00060,000

NissanNissan40,000Total

20,000127,316 100.0%

166,000 100.0%* Includes sales to Renault and Mitsubishi
0 Sales are expected to increase led bybusinesses with Nissan.

FY2021 Actual FY2022 Forecast

13© YOROZU CORPORATION. 2022 All Rights Reserved.

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

Exchange
rate
Marketeffect impact, etc.

5,000

128
4,000

975

109

90

Consolidation
adjustment

Depreciation

Cost-saving
efforts920

Die &equipment

906
1,605

57

1,329
2,000

0

Decrease in volumes(compared with initial plan)

Increase involume

3,000

1,000

Decrease in new vehicle
volume (impact on sales
composition)

621

Marketimpact, etc.
Consolidation
adjustment andexchange rate
347 effect3,750

Cost-saving
efforts

283

2,096

FY2021
Actual

1,800+1,654FY2022
Initial Forecast-1,950

FY2022
Forecast

A profit rise YoY in the initial forecast referring to cost-saving effectand increase in sales is not likely to be achieved due to decrease in
new vehicle volume and market impact.
© YOROZU CORPORATION. 2022 All Rights Reserved.

14

7

Sales and Operating Income by Region◆SalesMillion yen

100,000
50,000(Before Consolidation Adjustment)(FY21 Results vs. FY22 Forecast)Japan

AmericasAsia+15,167+40.5％+14,955+32.4％+9,933+19.7％

37,47852,645

46,134FY22

FY2161,08950,5410FY2160,474FY21

FY22

Difference/% ofChangeFY22◆Operating Income+1,276+117.3％

Million yen

5,000
1,088

-24
--％

2,364

1,600

0

-909

-5,000FY21-1,622
--％

FY22

FY21

-22

-933
FY21

FY22

FY22

Sales to increase across all segments
 Japan: Sales and profits will grow owing to royalty fees and domestic sites’ recovery.
 Americas: Sales growth is expected as impacted by the market and exchange rates while profits willremain flat due to decrease in output volume.
 Asia: Sales growth is expected as impacted by the market and exchange rates while profits will remain
flat due to decrease in output volume and new vehicle volume.
© YOROZU CORPORATION. 2022 All Rights Reserved.

15

Capital Investment and Depreciation
Capital Investment by Region

Depreciation by Region

Million yen

25,000Japan

Americas

Asia

Japan

AmericasAsia

20,00015,451
15,000

14,234
12,075

11,216

12,522
10,246

10,000

8,903

9,866

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

Contents

Ⅰ. FY2022 Second Quarter Financial Summary
Ⅱ. FY2022 First Half Results
Ⅲ. FY2022 Annual Forecast
Ⅳ. Progress of FY2022 Approaches
Ⅴ. Shareholder Return© YOROZU CORPORATION. 2022 All Rights Reserved.

17

Yorozu Sustainability Plan 2023 Mid-term Business PlanYSP2023Work on the three key pillars
with the aim of engaging insound management that isresilient to changes

Acceleration Measures
Defined the 5Gs as our
growth strategy© YOROZU CORPORATION. 2022 All Rights Reserved.

18

9

Progress of YSP2023
20

FY21

FY22

FY23

24

Market Trends COVID-19, inflation, semiconductor shortage, China city lockdown, Ukraine situation
GlobalEnvironment

Increasing need for decarbonization
E: Carbon neutrality initiatives ●ESGManagement
Medium- to longterm sustainablegrowthDX Promotion
Stable Profits
CF management

New
Technologies
and Methods
EV products,
technologies

Phase・Environmental Vision 2040
・Y-Oita Green Power
S: Reform aimed at improving●
employee engagement
・Platinum Eruboshi certification
G: Tokyo Stock Exchange Prime
Market selection
Promotion of Yorozu DX●

Advance carbon neutrality
initiatives across all sites
3 themes for DX- Monozukuri LT reduction- Smart factory- Indirect-work reformAnnouncement of construction●of the new Tokai plant

Development of products that
contribute to customers’ CO2 ●reduction through an LCA approach

HOP

New Tokai Plant:
The model plant takes shape

Expand sales, also expand the
product range for EVs
Develop new technologies andmethods that contribute to theelectrification of society

STEP

JUMP

5Gs
19

© YOROZU CORPORATION. 2022 All Rights Reserved.

Topics in the First Half of FY2022
PolicyESG Management

GeneralEnvironmental

SocialTopics in the First Half of FY2022

Chapter●Issued Yorozu Integrated Report (August)●Switched to green power at Yokohama-HQ (July), Shonai-Y and
Y-Engineering (November) following Y-Oita (March)●Received Kanagawa Renewable Energy User Certificate (September)

Promotionof CN●Revised Yorozu Green Procurement Guidelines (June)●Disseminated Yorozu Sustainability Guidelines (1st edition)
to suppliers (August)

Promotionof CN●Developed carbon neutrality strategies of the new Tokai plant

New Plantin Tokai●Advanced the Workstyle Reform to Employee Engagement Reform●Promoted co-existence with the local community

Governance●Organized online general shareholders meeting (June)●Launched a third-party hotline service for suppliers (October)DX●Promoted DX at the production floor

StableProfits●Strengthened efforts to ensure stable profits●Applied technologies to flexibly adapt to changes in production

StableProfits

New
Technologies
and Methods●Established CO2 reduction technology that contributes to society
and customers●Expanded sales based on customer/product/regional axes

New
Technologies
and Methods
Sales
Expansion© YOROZU CORPORATION. 2022 All Rights Reserved.

20

10

Yorozu Sustainability Plan 2023 Mid-term Business Plan

Promotion of Carbon Neutrality

21© YOROZU CORPORATION. 2022 All Rights Reserved.

Roadmap to Carbon Neutrality (CN)
April 2022▼

March 2023▼

March 2024▼

YSP2023∥

May 2021
▼

2030

2040

▼

▼

Next mid-term plan onwards

Accumulated reduction
Scope 1 and 2

Supplier

Actualvs. 2013

Plan

Scope 3
Material
Procurement

Scope 27％

4 domestic sites

Yorozu

6 domestic sites (All)Overseas sites

Scope 1

New Tokai plant

Fuel

Existing sites

CN heat source
Customer

100％

New Tokai plant

Green power
Solar power
generation

Product Use

50％

Collaborate with raw material makers and part suppliersElectricity

Scope 3

10％

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

22

11

Domestic Sites – Working toward CN
Scope 2Completed switch to 100% green power at 4 domestic sites

Timing

March

July

November

Site

YorozuOita

Yokohama HQ

Yorozu Engineering
Shonai Yorozu

Certificate

Kanagawa Renewable
Energy User Certificate(September)

Certificate

Certificate

Certificate

Shift to green power – achieved and planned
Number ofsites

Green powerratio

CO2 reduced/year

thru to FY2022

４ out of 660%

7,020 tons

thru to FY2024

6 out of 6100%

11,700 tons

Domestic sites

48% CO2
reduction has beenachieved so far
at domestic sites
as of FY2022
23© YOROZU CORPORATION. 2022 All Rights Reserved.

Global Sites – Working toward CN
Scope 2Global sites

Progress in CN

Solar power generation
Adoption of green power(Planned in FY2024)

Y-Tochigi
Y-Oita(Planned in FY2024)

New Tokai Plant
Shonai-Y

Yokohama-HQ

Plans for adoption of renewable energy (by 2023)
Item

Number of
sites

Ratio

CO2 reduced/year

Solar power
generation

6 out of 17

4.3%

4,100 tons

Green power

7 out of 1726%

25,000 tons

© YOROZU CORPORATION. 2022 All Rights Reserved.

Expected toachieve 24%
CO2 reduction
at global sites
by FY2023
24

12

Working with Suppliers toward CN
Work jointly with suppliers to achieve CN

Scope 3

◆Life Cycle Assessment (LCA)
Yorozu LCA Scope
Scope ３

Scope 1&2

Scope ３

Steel makers
Materials

In-house
production

Customers
Vehicles on
the road

RecycleBlast furnace

Suppliers

YorozuCustomers

Emissions reduction

Emissions reduction

Contribute to reduction

25© YOROZU CORPORATION. 2022 All Rights Reserved.

Working with Suppliers toward CN
Scope 3Work jointly with suppliers to achieve CN◆Collaboration with Suppliers
Achieve CN
in 2040Develop actions plans, support activities, andshare information to achieve CN by 2050

YorozuSuppliers

Achieve CN
in 2050

Energy-saving activities(Increase productivity
Share CO2 reduction items
and improve profits)
Scope 2 (Electricity)・Install solar panels
・Adopt green power

CO2 emissions survey feedback

Scope 1 (Fuel)・Electrification
・Alternative fuel(hydrogen/bio fuel)Support reducing CO2
emissions (eg. Renewable energy)

Yorozu Green Procurement Guidelines (issued in June)
Yorozu Sustainability Guidelines (issued in August)© YOROZU CORPORATION. 2022 All Rights Reserved.

26

13

Yorozu Sustainability Plan 2023 Mid-term Business Plan

New Plant in Tokai Region

27© YOROZU CORPORATION. 2022 All Rights Reserved.

Construction of the New Plant in Tokai Region

Overview
Location: Wanouchi-cho, Anpachi-gun, Gifu
Product: automotive suspension parts, others
Site area: approx. 79,700 sq.m.
Total floor area: approx. 18,400 sq.m.
Investment: approx. 12.0 billion yen
Start of construction: November 2022
Start of operation: scheduled January 2024

＜Exterior design＞

Proximity to customers and suppliersin the Chubu Region and westward
Good access tomajor customers

Daihatsu Shiga
70 min., 78 km

New siteToyota Motomachi
56 min., 68 km

Honda Suzuka
71 min., 64 km
Suzuki Kosai
143 min., 140 km

Aim to become a model plant for Japanese parts makers
Give full attention to the environment

Contribute to electrification with quality products

・Zero CO2 emissions in the production process・Address issues from an LCA perspective

・Expand sales of lightweight products・Contribute to customers through low CO2 products

Co-exist with the community

Establish a sales base that ensures CS and ES

・Provide opportunities to connect withthe local community
・Create employment opportunities
・Make joint efforts on environment

・Move closer to customers in Tokai and Kansai regions
・Strengthen monozukuri capabilities
・Increase employee engagement© YOROZU CORPORATION. 2022 All Rights Reserved.

28

14

Latest Topics on the New Tokai Plant
Moving successfully toward operation of the new plant
Oct. 1, 2

Locationagreement
signing
ceremony

WanouchiTown
Festival

Oct. 24

January 2024

Nov. 24

Land purchase
Groundagreement
Breaking& landwork
ceremony
completed∥

June 21, 2022

Scheduledstart ofoperation

29© YOROZU CORPORATION. 2022 All Rights Reserved.

The New Tokai Plant – Approach to CN
Scope 1&2
Achieve CN

The plant will fully operate on green power from the start

Scope 2

Scope 1

Large-scale installation ofsolar panels at the plant site

Shift from gas to electricity asheat source for painting facilities

Scope 2＋

Co-exist withthe community

On-site EV charging station(available for residents in the neighborhood)© YOROZU CORPORATION. 2022 All Rights Reserved.

30

15

Yorozu Sustainability Plan 2023 Mid-term Business Plan

Stable Profits

31© YOROZU CORPORATION. 2022 All Rights Reserved.

Build a Robust Corporate Infrastructurethat is Less Affected by Production Volume

Stable Profits

We are committed to ensuring stable profits
Cut costs arising from sudden reduction in production volume
Example of temporary production
adjustment in a month
Suddendecrease

Sales

Sales

Variable
costs
Fixed
costs

Fixed
costs
Expenses

At planningtiming・Consolidate production, and set
non-operating days
・Reduce and adjust overtime
・Perform additional cost-saving activities
・Cut costs and expenses
Example of our operating schedule
Week

Variable
costs

Sales

Adjust・Excess manpower
・Overtime

Efforts for maximum recovery

Sales

Expenses

Suddenproduction cut© YOROZU CORPORATION. 2022 All Rights Reserved.

●operating Mon

Tue Wed Thu

Fri

Customer

●

●

●

●

●

Yorozu

●

●

●

×

×

Yosedome production
32

16Build a Robust Corporate Infrastructurethat is Less Affected by Production Volume

Stable Profits

Wide application of our unique technology
to flexibly adapt to fluctuation in production
FY19-20
FY20FYFY

FY23-

FY21-22
Nissan Sakura (BEV)

Mitsubishi Outlander (PHEV）
The world’s firstto be adopted in
globally produced
Vehicle models

Mitsubishi eK X EV (BEV)

Nissan Ariya (BEV)
Toyota bZ4X (BEV)

Nissan X-Trail (e-POWER)

Subaru Solterra (BEV)

2020 NISSAN Global Innovation Award
Innovation in monozukuri: complete tack welding andmain welding lines
Tack welding

Full-circle welding

Main welding

Jig setup
Small, spaced beads【Key Points】
By installing the preliminary tack welding
line, the main welding line can be
automated (in welding cells) giving more
flexibility to production volume.
Example of adjusting the volume processedin the main welding line
#１

#3

#5

#1

#3

#5

ACTIVE

ACTIVE

ACTIVE

ACTIVE

ACTIVE

CLOSED

#2

#4

#2

#4

ACTIVE

ACTIVE

ACTIVE

CLOSED

Volume increases:
cells in full operation

Volume decreases:
some cells not in operation© YOROZU CORPORATION. 2022 All Rights Reserved.

33

Yorozu Sustainability Plan 2023 Mid-term Business Plan

New Technologies and Methods
that Contribute to Electrificationof Society, and Sales Expansion© YOROZU CORPORATION. 2022 All Rights Reserved.

34

17

Development of New Technologies and Methods

The direction we are heading■Constructive proposals for steel products to help reduce CO2
・ARMs with a new stamping structure
・Newly designed burring structure
・Use of alternative materials
・Structure combining different materials■Lighter products using high tensile strength materials (980MPa)■Solution to noise/vibration performance requirements in EVs

FY2018-FY2020

F Y2 0 2 1-15%

F Y2 0 2 2-23%

F Y2 0 2 3

-26%

-30%

achieved
plan

plan

Weight reduced by 30% or more
35

© YOROZU CORPORATION. 2022 All Rights Reserved.

Development of New Technologies and Methods Examples■Decarbonization Patent Technologies

Technological Contribution with Steel Products
TimingItem

FY2022
ARMs with a new stamping
structure

ARMs using alternative
material (aluminum → steel)

Structure and method satisfying link Adoption of steel to take advantage
of low-emissions steelmaking
Key Concepts functions with a simple stamping partofMarket launch formally decided
Development

WeightReduced by 11%

Increased by 33%(0.57 kg → 0.50kg)(Aluminum 1.85kg → Steel 2.46kg)

CO2
Emissions

Reduced by 20,000 tons

Reduced by 281,000 tons

Granted patents for both ARMs in 1H FY22
We are now promoting sales with patented technologies© YOROZU CORPORATION. 2022 All Rights Reserved.

Note: Calculated on a six-year lifecycle and 200,000 units/year by model
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18

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

Region axis
Mainly in Japan,
China and US

Expanding sales of products for EVs
Nissan Ariya(BEV)

Mitsubishi eK X EV
(BEV)

Nissan Sakura(BEV)

Nissan X-Trail(e-POWER)

Toyota bZ4X
(BEV)

Subaru Solterra
(BEV)

37

© YOROZU CORPORATION. 2022 All Rights Reserved.

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

Region axis
Mainly in Japan,
China and US

Expanding sales of products for EVs
Nissan Ariya(BEV)

Dongfeng EV EX1
PRO SUV (BEV)

Venucia e30(BEV)

Dacia Spring(BEV)

GAC Honda Dongfeng Honda
e:NP1 (BEV)e:NS1 (BEV)© YOROZU CORPORATION. 2022 All Rights Reserved.

GAC Toyota
bZ4X (BEV)38

19

Contents

Ⅰ. FY2022 Second Quarter Financial Summary
Ⅱ. FY2022 First Half Results
Ⅲ. FY2022 Annual Forecast
Ⅳ. Progress of FY2022 Approaches
Ⅴ. Shareholder Return

39© YOROZU CORPORATION. 2022 All Rights Reserved.

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

（Yen/Share）
100
51.6%
75
51yen

26yen

0

58yen

35.5%

35.4%

20.1%

50

25

53yen

20yen

10.2%

7.6%

5

40

11

10

10

11

2012

2013

2014

Interim dividend

18
19

40

34

10

59yen

18
2015

2016

Year-end dividend

16

25

2017

45%

46yen

23

23

2018

Dividend payout
ratio “-”due to net loss

35.6%

35.9%

30%

25yen
13

13yen

13yen

14yen

12

13

7
6

7
7

2019

2020

2021

Memorial dividend

15%

0%2022 Forecast

Dividend payout ratio

Our shareholder return policy rests on dividend payment.
We strive for dividend sustainability with the dividend payment ratioof 35% or more.
© YOROZU CORPORATION. 2022 All Rights Reserved.

40

20

－End－

41© YOROZU CORPORATION. 2022 All Rights Reserved.

FY2022 First Half

Financial Results

Thank you for your attention

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

42

21

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, 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: Norio HIRANO, Member of the Board (EVP & CFO)
Contact personnel: Manabu OZAWA, Manager, Accounting Dept.
TEL 045-543-6802© YOROZU CORPORATION. 2022 All Rights Reserved.

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