Supplementary Material
on Financial Results

Note: This document is a translation of the original Japanese version and provided forreference purposes only. In the event of any discrepancy between the Japanese original
and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Year
Ended March 31, 2024
May 21, 2024
SHIBAURA MACHINE CO., LTD.

Consolidated Financial Results
Overview for the Year
Ended March 31, 2024
1) Comparison with “Management Reform Plan”
2) Comparison with Forecast
3) Key Points of Financial Results4) Year-on-Year Comparison

2Performance Summary（ vs. Management Reform Plan Quantitative Targets ）Exceeded quantitative targets for the final year of the medium-term management plan “Management Reform Plan“FY2023Results(A)

FY2023
Management Reform Plan
Quantitative Targets(B)

ChangeNet sales

160.6 Billion yen

135.0 Billion yen+25.6 Billion yen

Operatingprofit ratio

8.5%

8.0%

+0.5pt

ROE

17.8%

8.5%

+9.3ptDividend
payout ratio※52.1%

Target 40%+12.1pt（A-B）※ Extraordinary profit (gain on sale of land) related to the commercialization of MFLP Zama (Sagami Logistics Facility) are excluded fromnet profit because it is used to acquire the equity interest in the building constructed on the land of the transferred asset. Additionally, thedividend payout ratio was calculated as a total payout ratio which includes treasury stock acquisitions announced on May 13, 2024.

3

Performance Summary (vs. Forecast)
FY2023(Unit: 100 million yen)

FY2023 Forecast

Cumulative(A)
Net sales
Operating profit

Profit ratio
Ordinary profit

Profit ratio
Net profit attributableto owners of parent

Profit ratio
Orders received
Exchange rate
(USD)
➢
➢
➢
➢

(Announced on

Difference

May.15,2023)

(A-B)

(B)

1,606

1,800

- 194

136

150

- 14

8.5%

8.3%

146

145

9.1%

8.1%

179

180

11.2%

10.0%
※

1,211

151 yen

1,690

126 yen+0.2pt+1+1.0pt-1+1.2pt- 479※Orders received
Announced on Nov.8,2023

Net Sales did not reach target mainly due to the inspection of LiB separator film production lines for EV being delayed until the next term onward.
Operating profit fell short of target due to a decline in sales, but profit ratio improved, mainly in the metal & plastics industrial machine segment.
Ordinary profit increased due to foreign exchange gains due to the weaker yen, but net profit decreased slightly.
Orders received for LiB separator film production lines for EV are significantly below target.

4Comparison with forecast
Amounts of Orders Received (By Segment)(Unit: 100 million yen)

(Unit: 100 million yen)
Change

1,690

1,211

Breakdown of Metal &Plastics Industrial Machine-479（-28.3％）

Injection: Injection molding machines
Die Casting: Die casting machines
Extrusion: Extrusion machines

15
OthersControlsystems90

FY 2023
Forecast

270

Machinetools

13

Metal &
plastics
industrial
machine76
226-2（-10.8%）-14（-15.5%）

Injection
360-44（-16.2%）-420（-31.9%）

1,315

FY 2023
Results

Extrusion
765

Extrusion
354

1,315

Injection

895

Die
Casting
190

895

Die
Casting183

FY2023 Forecast

FY2023 Results

5

357

Comparison with forecast
Net Sales (By Segment)(Unit: 100 million yen)

(Unit: 100 million yen)

Breakdown of Metal &Plastics Industrial Machine

Change

1,800
Others14

Controlsystems

123

Machine
tools

266

1,606

15

118
259

-194（-10.7%）+1（+14.1%）-5（-3.8%）

FY 2023
Forecast-7（-2.3%）

FY 2023
Results

Injection

Metal &
plastics
industrial
machine406-180（-12.7%）

Injection
370

Extrusion

1,415

1,235

842

1,415

Extrusion
Die
Casting167

Adjustment
amount20)

FY2023 Forecast

FY2023 Results

6

697

1,235
Die
Casting167

Key Point of Financial Results (Year-on-Year)

Increased Revenue and Profits Year-on-Year◼ Net Sales•••

Considerable increases in LiB separator film production lines for EV in extrusion machines in China
Increases in Die Casting machines in Japan, North America and Southeast Asia etc.
Increases in electronic control systems for control systems and engineering solutions in Japan◼ Operating Profit, Ordinary Profit, Net Profit••

Considerable increases in operating profit and ordinary profit due to sales expansion etc.
Increase in net profit due to the recognition of an extraordinary profit related to the commercializationof MFLP Zama (Sagami Logistic Facility) (a gain on sale of land*) etc.
*Because an equivalent exchange method was applied, this gain on sale of land is used to acquire equity interest in the building
constructed on the land of the transferred asset.

◼ Orders Received••

Although the spread of EV is predicted to increase in the medium to long term, the order intake for LiB
separator film production lines for EV currently decreases significantly compared to last year due tothe slowing growth in EV demand and the timing of the transition to next-generation models.
Machine tools decreased because of the economic downturn in China etc.

7Performance Summary (Year-on-Year)(Unit: 100 million yen)

Net sales
Operating profit

Profit ratio
Ordinary profit

Profit ratio
Net profit attributableto owners of parent

Profit ratio
Orders received
Exchange rate
(USD)

FY2023

FY2022

Increase/

Cumulative

Cumulative

Decrease

(A)

(B)

(A-B)

1,606

1,231

+375

136

57

+79

4.7%

+3.8pt

52

+94

4.3%

+4.8pt

179

64

+115

11.2%

5.2%

+6.0pt

8.5%

146
9.1%

1,211

151 yen*Exchange rate sensitivity on operating profit (USD)
Approximately 70 million yen per 1 yen(Profits will increase with yen’s depreciation)
8

1,916

134 yen- 705

Amounts of Orders Received (By Segment)(Unit: 100 million yen)

(Unit: 100 million yen)
Change

1,916

1,211

Breakdown of Metal &Plastics Industrial Machine-705（-36.8％）

12

OthersControlsystems

91
261

Machinetools

FY 2022
Results

FY 2023
Results

13

Metal &
plastics
industrial
machine76+1（+3.2%）

Injection-15（-17.1%）

366

226

-35（-13.7%）

1,549

1,549

-654（-42.2%）

354
Die

Extrusion

Casting

1,004

178

895

Extrusion

Injection

895
Die
Casting183

FY2022 Results

FY2023 Results

9357

Trends of Orders Received (By Segment)(Unit: 100 million yen)

Metal & plastics industrial machine has quarterly fluctuation inamounts of orders received, because of including large volume
orders for LiB separator film production lines for EV.

Machine tools: Large machine tools (machine tool segment)
Precision: High-precision machine tools (machine tool segment)
Control: Control systems

Breakdown of Metal &Plastics Industrial Machine(Unit: 100 million yen)

Current Orders➢ Injection: Low due to economic downturn in China. North America are on a recovery trend➢ Die Casting: Demand is showing a slow recovery in relation to automotive capital investments, especially for EV.
➢ Extrusion: Orders for LiB separator film production lines for EV are delayed due to slowing growth in EV demand andthe timing of switching to next-generation model.
➢ Machine Tools: Demand for energy applications in North America remains steady, low due to economic downturn in China➢ Precision: Demand for optical molds in China is low.
➢ Control: Demand for industrial robots in China is low, but demand for electronic control systems in Japan remains
steady10

Net Sales (By Segment)(Unit: 100 million yen)

(Unit: 100 million yen)

Breakdown of Metal &Plastics Industrial Machine

Change1,231

Others15

Controlsystems

104

Machine
tools

273

1,606

+375（+30.4%）

15+0（+1.2%）

118＋14（＋13.0%）259-14（-4.9%）

FY 2022
Results+376（+43.7%）

370

387

320

859
1,235

Extrusion
697

859

20)

FY2023 Results

11

1,235
Die

Die

Casting

Casting167

151

Adjustment
amountFY2022 Results

Injection

Injection

Extrusion

Metal &
plastics
industrial
machineFY 2023
Results

Trends of Net Sales (By Segment)(Unit: 100 million yen)

Breakdown of Metal &Plastics Industrial Machine(Unit: 100 million yen)12

Order Backlog (By Segment)(Unit: 100 million yen)

(Unit: 100 million yen)
Change2,092
Others4

Controlsystems

65

Machine
221
tools

1,703

-389（-18.6%）

5＋1（＋24.3%）

48-17（-26.4%）

188-33（-15.2%）

Breakdown of Metal &Plastics Industrial Machine

FY 2022
Results

FY 2023
Results

Injection Die

Injection
140

153 Casting-339（-18.8%）

102

1,800

1,800

FY2022 Results

FY2023 Results

13

Casting
118

1,461

1,461
Metal &
plastics
industrial
machineDie

Extrusion

Extrusion

1,544

1,202

Operating Profit (By Segment),
Ordinary Profit, Net Profit(Unit: 100 million yen)

(Unit: 100 million yen)＋79（+136.1％）

Change136
Controlsystems
Machine
tools

3
5

1

Controlsystems
Machine
tools

4

(1)

5

46

Net profit+94（+176.6％）＋115（+178.2％）「MFLP Zama」(Sagami Logistics Facility)( Including approx. 7.6 billion yen)

Others-3(-%)

Controlsystems-1

57
OthersOrdinary profit(-31.3%)

129
Metal &
plastics
industrial
machine

Metal &
plastics
industrial
machineOthers-2-2

Machine
tools
-0

179

146

(-5.2%)

Metal &
plastics
industrial
machine
+83

64

52

(+180.9%)
FY 2022
Results

FY2022 Results FY2023 Results

14

FY 2023
Results

FY 2022
Results

FY 2023
Results

(Metal & Plastics Industrial Machine)
Segment Results(Unit: 100 million yen)

(Injection molding machines, die casting machines, extrusion machines, etc.)

Increase/ Increase/
FY2023

FY2022

Decrease Decrease
Amounts

Ratio

1,235

859

+376

+43.7%

Operating Profit

129

46

+83

+180.9%Profit Ratio

10.5%

5.4%

―

+5.1ptNet Sales

Performance Factor Analysis＋

Positive Factors➢ Die Casting: Increase in demand for automotive applications in Japan, North America
and Southeast Asia etc.
➢ Extrusion: Increase in LiB separator film production lines for EV in China-

Negative Factors➢ Injection: Decrease in North America , decrease due to the economic downturn in China

15

(Machine Tools) Segment Results(Machine tools, high-precision machine tools, etc.)(Unit: 100 million yen)

Increase/ Increase/
FY2023

FY2022

Decrease Decrease
Amounts

Net Sales
Operating Profit

Profit Ratio

Ratio

259

273

- 14

- 4.9%

5

5-0- 5.2%

2.0%

2.0%

―

- 0.0pt

Performance Factor Analysis＋

Positive Factors➢➢-

Machine Tools: Increase in demand for energy applications in North America
Precision: Increase in demand for vehicle-mounted lens molds in China

Negative Factors➢➢

Machine Tools: Decrease in demand for industrial machinery in Japan
Precision: Decrease in demand for optical molds in China

16

(Control Systems) Segment Results(Industrial robots, electronic control systems, etc.)(Unit: 100 million yen)

Increase/ Increase/
FY2023

FY2022

Decrease Decrease
Amounts

Net Sales
Operating Profit

Profit Ratio

Ratio

118

104

+14

+13.0%

3

4-1△31.3%

2.8%

4.6%

―

- 1.8pt

Performance Factor Analysis＋

Positive Factors➢-

Increase in electronic control systems and engineering solutions related
to labor-saving and automation in Japan

Negative Factors➢

Decrease in demand for industrial robots in China

17

Ordinary Profit Analysis(Unit: 100 million yen)+94(+176.6%)

-10
-29
106

4

146

23
・Increase in logistics costs
due to sales expansion
・ Increase in personnel
costs, etc.

52

FY2022
Ordinary Profit

Scale
expansionGrossmarginexpansion

SG&A

18

Currency
exchange

Others

FY2023
Ordinary Profit

Domestic and Overseas Sales(Unit: 100 million yen)

➢

Japan

：

[Injection][Die Casting] [Extrusion][Control Systems] Increase[Machine Tools] Decrease

➢

China

：

[Extrusion] Increase[Injection] [Precision][Control Systems] Decrease➢

SE Asia ：

➢

North

：

America[Die Casting] Increase[Die Casting] [Machine Tools] Increase[Injection] Decrease

Overseas Sales(By Region)
748
410
23 15
FY2022

FY2023China

FY2022

FY2023

Taiwan23 29
FY2022

FY2023

South Korea

68 71
FY2022

FY2023

SE Asia19

92 98
FY2022

FY2023

India, etc.

225 207
FY2022

FY2023

North America

911

FY2022

FY2023

Europe, etc.

Overseas Sales and Ratio (By Segment)(Unit: 100 million yen)

20

Balance Sheet(Unit: 100 million yen)Ended Mar.2023 Ended Mar.2024（単位：億円）Equity ratio

43.5%

44.1%

D/E ratio

15.7%

9.9%

21

Cash Flow Statement(Unit: 100 million yen)

FY2022 Results

FY2023 Results
Increase in Inventories
Increase in Contract liabilities

-219
261

Dividend
payment -18
Loan repayment-33
Dividend payment -33

Increase/

FY2022

FY2023

Opening balance of cash and cash equivalents

517

508

-9

C/F from operating activities

9

93

84

C/F from investment activities

-5

- 38

- 33

C/F from financial activities

- 22

- 67

- 45

Total

- 19

- 12

7

Transitional differences

10

19

9

Closing balance of cash and cash equivalents

508

515

7

22

Decrease

Forecast of Consolidated
Financial Results for the YearEnding March 31, 2025
1) Financial Results Forecast2) R&D Expenses, Capital Expenditures,
Depreciation Expenses
3) Dividend Forecast

23

FY2024 Financial Results Summary
FY2024 Forecast(Unit: 100 million yen)

(Announced on May.13,2024)(A)

FY2023

Increase/

Cumulative

Decrease(B)(A)-(B)Net sales

1,700

1,606

+94

Operating profit

140

136

+4

Profit ratio
Ordinary profit
Profit ratio
Net profit attributableto owners of parent

Profit ratio
Orders received
Exchange rate
(USD)

8.2%

126

8.5%

146

7.4%

92

9.1%

179

5.4%

1,720

11.2%

1,211

145 yen- 0.3pt- 20- 1.7pt- 87- 5.8pt+509

151 yen➢ Main reasons for the decrease in Ordinary profit and Net profit compared to the previous year
・Ordinary profit includes foreign exchange gains in FY2023 results. Foreign exchange gains and losses are not expected in
the forecast
・ Net profit includes extraordinary income (gain on sale of land) recorded in FY2023 results. No extraordinary profits are
expected in the forecast.
➢ The reason for the increase in orders is mainly due to the expected recovery in orders received for extrusion machine for LiB
separator film production lines for EV

24

Amounts of Orders Received (By Segment)(Unit: 100 million yen)

(Unit: 100 million yen)
Change

1,211

1,720
19

Breakdown of Metal &Plastics Industrial Machine+509（+42.0％）+6（+42.0%）

96+20（+26.2%）

256+30（+13.2%）

FY 2023
Results

13
Others76

Controlsystems

226

FY 2024
Forecast

Injection+454（+50.6%）
Extrusion

Machine
tools

354

1,349

Injection

895

424

357
Extrusion

1,349

737
Die

895

Casting

Casting

188

183

Metal &
plastics
industrial
machineFY2023 Results

Die

FY2024 Forecast

25

Net Sales (By Segment)(Unit: 100 million yen)

(Unit: 100 million yen)

Breakdown of Metal &Plastics Industrial Machine

Change

1,606

1,700

+94（+5.8%）

21
Others15

Controlsystems

118

Machine
tools

259

114

+6（+31.4%）-4（-3.7%）

249-10（-4.2%）

FY 2023
Results

FY 2024
Forecast

Injection
370

Injection+102（+8.2%）

1,337

1,235
Metal &
plastics
industrial
machine387

Extrusion
697

Adjustment
amount20)

FY2023 Results

FY2024 Forecast

26

1,235

Extrusion
Die

748

1,337
Die

Casting

Casting167

202

Operating Profit (By Segment),
Ordinary Profit, Net Profit(Unit: 100 million yen)

(Unit: 100 million yen)

＋4（+2.8％）

Controlsystems
Machinetools

Change

136

140

3

3
4

5

Others-1(-%)
Controlsystems-0(-10.1%)

129

136

Metal &
plastics
industrial
machineOthers(5)-2Machinetools-1(-21.3%)

Metal &
plastics
industrial
machine+7-3(+5.0%)FY2023 Results FY2024 Forecast

27

Ordinary profit

Net profit-20(-13.7％)-87(-48.7％)

(Metal & Plastics Industrial Machine)
Segment Results(Unit: 100 million yen)

(Injection molding machines, die casting machines, extrusion machines, etc.)

Increase/ Increase/
FY2024FY2023

Decrease Decrease
Amounts

Ratio

1,337

1,235

+102

+8.2%

Operating Profit

136

129

+7

+5.0%

Profit Ratio

10.2%

10.5%

―

- 0.3pt

Net Sales

Performance Factor Analysis＋

Positive Factors➢ Injection :Continued demand in Indian market➢ Die casting :Continued demand gradual recovery for automotive applications➢ Extrusion :Continued sales scale for LiB separator film production lines for EV in China-

Negative Factors➢ Risk of delay in market recovery28

(Machine Tools) Segment Results(Machine tools, high-precision machine tools, etc.)(Unit: 100 million yen)

Increase/ Increase/
FY2024FY2023

Decrease Decrease
Amounts

Net Sales

249

259

- 10

- 4.2%

4

5-1- 21.3%

1.6%

2.0%

―

- 0.4pt

Operating Profit

Profit Ratio

Ratio

Performance Factor Analysis＋

Positive Factors➢ Machine Tools: Increase in demand for energy applications in North America-

Negative Factors➢ Risk of delay in market recovery

29

(Control Systems) Segment Results(Industrial robots, electronic control systems, etc.)(Unit: 100 million yen)

Increase/ Increase/
FY2024FY2023

Decrease Decrease
Amounts

Net Sales

114

118

-4

- 3.7%

3

3-0- 10.1%

2.6%

2.8%

―

- 0.2pt

Operating Profit

Profit Ratio

Ratio

Performance Factor Analysis＋

Positive Factors➢-

Increase in demand related to engineering solutions for automation and labor-saving

Negative Factors➢

Decrease in sales of electronic control systems

30

R&D Expenses, Capital Expenditures,
Depreciation Expenses(Unit: 100 million yen)

R&D
ExpensesCapitalExpenditures

Depreciation
Expenses

Including MFLP Zama (Sagami
Logistics Facility)

128
Construction of a newplant in India to
accommodate
increased production
etc

31

31

76

34

30

21

24

21

FY2022
FY2022
Results

FY2023 FY2024
FY2024FY2023Plan
Results
Plan

FY2022
FY2022
Results

FY2023FY2024
FY2024FY2023Plan
Results
Plan

31

FY2022
FY2022
Results

FY2023 FY2024
FY2024FY2023Plan
Results
Plan

Dividend Forecast
Policy on Determination of Dividends
Our basic policy is to maintain stable dividends and to distribute profits in line with business performance
while strengthening our management structure to improve profitability.
With regards to retained earnings, we will make strategic decisions on future business development forthe purpose of continuous corporate growth, and effectively invest in strengthening human capital,
production facilities, technological development, overseas expansion, and other areas. We will also
continue to return profits to shareholders in an appropriate manner.
Dividend payout
ratio(Consolidated)

InterimYear-end

Full-year

FY ended
March 31, 2023

37.5 yen

70.0 yen

107.5 yen

40.3%

FY ended
March 31, 2024

70.0 yen

70.0 yen

140.0 yen

※ 52.1%

FY endingMarch 31, 2025
(Forecast)

70.0 yen

70.0 yen

140.0 yen

35.6%

※ Extraordinary profit (gain on sale of land) related to the commercialization of MFLP Zama (Sagami
Logistics Facility) are excluded from net profit because it is used to acquire the equity interest in thebuilding constructed on the land of the transferred asset.
Additionally, the dividend payout ratio was calculated as a total payout ratio which includes treasury stockacquisitions announced on May 13, 2024.

32

Purchase and cancellation of own shares
Purchase and cancellation of own shares
The following share purchases and cancellations will be made in order to implement a flexible capital policy inresponse to changes in the business environment, to improve capital efficiency to and enhance shareholder returns.

1.Details of matters relating to the acquisition of Own Shares(１) Class of shares to be purchased：Common shares(２) Total number of shares to be purchased：740,000 shares（maximum limit）(３) Total amount of share purchase costs：2 billion yen（maximum limit）(４) Purchase period：From 14 May 2024 to 30 September 2024

2.Details of matters relating to the partial cancellation of treasury shares held
(１) Class of shares to be cancelled：Common shares(２) Total number of shares to be cancelled：1,600,000 shares(5.93% of total number of issued shares before cancellation)(３) Total number of shares issued after cancellation：
25,377,106 shares （including treasury shares)(４) Due date of cancellation：28 May 2024
(５) Percentage of issued shares after cancellation：4.77%

3. Policy of own stock holding
The maximum total number of treasury shares held by SHIBAURA MACHINE shall be set
at approximately 5% of the total number of shares issued, and any treasury shares
exceeding this limit shall in principle be cancelled.

33

SHIBAURA MACHINE CO., LTD.
2-2, Uchisaiwaicho 2-Chome, Chiyoda-ku, Tokyo 100-8503, Japan
TEL +81-3-3509-0444 FAX +81-3-3509-0333 URL: https://www.shibaura-machine.co.jp/