Consolidated Financial Results
for the Fiscal Year Ended December 31, 2021
(Japanese GAAP)
February 14, 2022
Company Name: RYOBI LIMITED
Stock Code: 5851
(URL: https://www.ryobi-group.co.jp/)
Stock Exchange Listing: Tokyo
Representative: Akira Urakami, President and CEO
Contact: Hiromu Arihiro, Corporate Officer
Contact: Divisional Deputy General Manager of Corporate Planning Division
Contact: General Manager of Finance Department
Phone: +81-3-3501-0511
Scheduled date of Ordinary General Meeting of Shareholders : March 29, 2022
Scheduled date to submit the Annual Securities Report : March 29, 2022
Date of scheduled payment of dividend : March 30, 2022
Availability of supplementary briefing material on yearly results : Yes
Presentation Meeting : Yes (for securities analysts / institutional investors)(Any amount less than one million is disregarded.)
1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2021
(From January 1, 2021 to December 31, 2021)(1) Consolidated Results of Operations(% indicates changes from the previous fiscal year.)Net sales

Operating profit% Millions of yen

Millions of yen

Ordinary profit% Millions of yen

Profit attributable toowners of parent
Millionsof yen%%FY December 2021

198,073

15.9(1,524)－4－(4,397)－FY December 2020

170,973(22.5)(1,789)

－

(35)

－

(697)

－

(Note) Comprehensive income: FY December 31, 2021: 6,131 million yen [－%]
(Note) Comprehensive income: FY December 31, 2020: (2,451) million yen [－%]
Fully diluted profit
Ordinary profit
Return on equity
per share
to total assets ratio
Yen
Yen
%
%

Profit per share

Operating profit
to net sales ratio%

FY December 2021

(135.87)

－

(3.7)

0.0

(0.8)

FY December 2020

(21.54)

－

(0.6)

(0.0)

(1.0)

(Reference) Equity in earnings of affiliated companies FY December 31, 2021 : 59 million yen(Reference) Equity in earnings of affiliated companies FY December 31, 2020 : 71 million yen(2) Consolidated Financial Position
Total assets

Net assets

Shareholders'equity ratio

Millions of yen

Millions of yen%

Shareholders'equity per share
Yen

As of December 31, 2021

279,422

131,71744.0

3,797.69

As of December 31, 2020

258,660

125,93045.3

3,619.16(Reference) Shareholders' Equity: As of December 31, 2021 : 122,926 million yen(Reference) Shareholders' Equity: As of December 31, 2020 : 117,147 million yen

(3) Consolidated Cash Flows
Cash and cash
equivalents
at end of period

Net cash provided by Net cash provided by Net cash provided by(used in) financing(used in) operating(used in) investing
activities
activities
activities
Millions of yen

Millions of yen

Millions of yen

Millions of yen

FY December 2021

14,900(12,162)(1,936)27,388FY December 2020

11,795(17,567)

9,718

25,405

2.

Dividends
Cash dividends per share

Total dividends Payout ratiopaid(annual) (consolidated)

End of 1Q End of 2Q End of 3Q Year-end Annual
Yen
Yen
Yen
Yen
Yen Millions of yen
FY December 2020

－

0.00

－

0.00

0.00

FY December 2021

－

10.00

－

10.00

20.00

FY December 2022
(Forecast)

－

20.00

－

20.00

40.00

－

%

Dividends to net
assets ratio(consolidated)
%

－
647

－

－

0.5
34.1

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2022
(From January 1, 2022 to December 31, 2022)(% indicates changes from the previous fiscal year for full year, and indicates changes from the previous half for first half.)
Profit attributable
Profit per
Net sales
Operating profit
Ordinary profit
to owners of parent
shareMillions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
First half

114,800

20.1

1,800

－

1,800

－

1,200

431.6

37.07

Full year

240,000

21.2

5,300

－

5,400

－

3,800

－

117.40* As year-on-year (also previous half) percentage changes of ordinary profit would be more than 1,000%, it is indicated as “-”.

*Notes(1) Significant changes of companies during the fiscal year ended December 31, 2021 (changes in specific companies involving

changes in the scope of consolidation): Applicable
New Company: －Excluded companies: 1 (Company Name) Ryobi Holdings (USA), Inc.
(2) Changes in accounting policies, changes in accounting estimates and restatements
1) Changes in accounting policies due to the revision of accounting standards: Not applicable
2) Changes in accounting policies other than 1): Not applicable
3) Changes in accounting estimates: Not applicable4) Restatements: Not applicable(3) Shares issued (common stock)

1) Shares issued(including treasury stock)

As of December 31, 2021

32,646,143

As of December 31, 2020

32,646,143

2) Treasury stock

As of December 31, 2021

277,412

As of December 31, 2020

277,298

3) Average shares
outstanding during theperiodFY December 31, 2021

32,368,784

FY December 31, 2020

32,368,933

(Reference) Summary of the Non-consolidated Financial Results
Overview of the Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2021
(From January 1, 2021 to December 31, 2021)(1) Non-consolidated Results of Operations
Net sales

Operating profit

Millions of yen% Millions of yen% Millions of yen

FY December 2021

92,50820.4(1,868)－FY December 2020

76,836 (22.1)(4,522)－

Profit per share
Yen

Ordinary profit

2,120

Profit% Millions of yen

149.1

851 (78.7)(3,372)%－741 (81.4)

Fully diluted profit
per shareYen

FY December 2021

(104.18)－

FY December 2020

22.91

－

(2) Non-consolidated Financial Position

Millions of yen

Shareholders' equity
ratio%

Shareholders' equity
per shareYen

167,028

71,42942.8

2,206.73

163,394

74,35645.5

2,297.15

Total assets

Net assets

Millions of yen
As of December 31, 2021
As of December 31, 2020

(Reference) Shareholders' Equity As of December 31, 2021: 71,429 million yen(Reference) Shareholders' Equity As of December 31, 2020: 74,356 million yen* These consolidated financial results are outside the scope of audit.
* Explanation for the appropriate use of performance forecasts and other special notes:(Cautionary note on forward-looking statement)
The statements regarding forecast of financial results in this report are based on the information that is available, as well as
estimates, assumptions and projections that are believed to be reasonable at the time of publication, and they are not meant to be
a commitment by the Company. Therefore, there might be cases in which actual results differ from forecast values.

Index of Attached Documents
1. Overview of Operating Results............................................................................................................................................- 2 (1) Overview of Operating Results for the Fiscal Year under Review ...................................................................................- 2 (2) Overview of Financial Position for the Fiscal Year under Review ...................................................................................- 4 (3) Basic Profit Allocation Policy, and Dividends for the Current and New Fiscal Year ......................................................- 5 2. Basic Policy for the Selection of Accounting Standards .....................................................................................................- 5 3. Consolidated Financial Statements and Important Notes ....................................................................................................- 6 (1) Consolidated Balance Sheets ............................................................................................................................................- 6 (2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income .......................................- 8 Consolidated Statements of Income ..................................................................................................................................- 8 Consolidated Statements of Comprehensive Income ........................................................................................................- 9 (3) Consolidated Statements of Changes in Equity ..............................................................................................................- 10 (4) Consolidated Statements of Cash Flows .........................................................................................................................- 12 (5) Notes Regarding the Consolidated Financial Statements ................................................................................................- 13 (Note related to going-concern assumption) ...................................................................................................................- 13 (Segment information) ....................................................................................................................................................- 13 (Per share information)....................................................................................................................................................- 15 (Important subsequent events) ........................................................................................................................................- 15 4. Non-consolidated Financial Statements and Important Note ............................................................................................- 16 (1) Balance Sheets.................................................................................................................................................................- 16 (2) Statements of Income ......................................................................................................................................................- 18 (3) Statements of Changes in Equity.....................................................................................................................................- 19 5. Others .................................................................................................................................................................................- 21 Changes in Officers ...........................................................................................................................................................- 21 (Appendix) Supplementary materials for financial results for the fiscal year ended December 31, 2021

-1-

1. Overview of Operating Results(1) Overview of Operating Results for the Fiscal Year under Review
1)

Operating Results for the Consolidated Fiscal Year under Review
The environment surrounding the Group in the consolidated fiscal year under review exhibited an overall trend of
gradual recovery. Domestic economic activity continued to return to normal, rates of COVID-19 vaccinations increased,
and overseas economies continued to improve. Nevertheless, with the resurgence of infections, slowing automobile
production attributable to global semiconductor shortages and soaring raw material prices, and other trends, the futureremains uncertain.
Under these circumstances, the Group pursued energetic sales activities, including Web-based business negotiations,worked to maintain our product supply system while taking measures to prevent the pandemic of infections, andimplemented initiatives to cut costs, improve productivity, strengthen operational efficiency.
As a result, sales for the current consolidated fiscal year increased compared to the previous fiscal year. Ordinary income
turned positive. However, profit attributable to owners of parent fell due to the impairment losses of 4,134 million yen.
Consolidated business result
Results for the Fiscal Year
Ended December 31, 2020
Millions of yen%

Results for the Fiscal Year
Ended December 31, 2021
Millions of yen%

198,073

Increase / decrease
Millions of yen%

27,09915.9

Net sales

170,973

Operating loss

(1,789)(1.0)(1,524)

(0.8)

265

－

Ordinary income(loss)

(35)

(0.0)

4

0.0

39

－

Loss attributable toowners of parent

(697)

(0.4)

(4,397)(2.2)(3,700)－% indicates the profit margin on sales.
% in the increase/decrease column indicates the increase/decrease rate.
2)

Performance by Segment
Die Castings business posted higher sales and a smaller loss than in the previous consolidated fiscal year. While theglobal semiconductor shortage and the shortage of automotive parts attributable to the resurgence of COVID-19
infections around Southeast Asia affected automobile production, progress on vaccinations, recovery in automotive sales
accompanying economic recovery and upward revisions of sales prices to offset rising raw material (aluminum) prices,among other factors, led to higher sales in all regions. While the increase in sales boosted earnings, earnings failed toreturn to positive territory due to delays in reflecting ongoing increases in raw material prices in sales prices.
Builders’ Hardware business posted higher sales and lower profit compared to the previous consolidated fiscal year.
Both domestic and overseas sales increased slightly. Profit declined despite efforts to reduce costs and expenses due tothe significant impact of higher procurement costs attributable to the strong Chinese yuan.
Printing Equipment business posted higher sales and a smaller loss than in the previous consolidated fiscal year. Sales
declined in Japan while rising overseas. A difficult sales environment persisted in Japan as uncertainty about the futureand other factors dampened the corporate mood for capital investment. On the other hand, overseas sales increased, due
mainly to strong exports to China and South Korea. Earnings improved due to higher sales, lower costs, and otherfactors.
Sales by segment
Results for the Fiscal Year
Ended December 31, 2020

Results for the Fiscal Year
Ended December 31, 2021

Millions of yen%

Millions of yen%

Millions of yen%

145,869

85.3

169,898

85.8

24,02916.5

Builders’ Hardware

9,406

5.5

9,574

4.8

168

1.8

Printing Equipment

15,513

9.1

18,393

9.3

2,880

18.6

Die Castings

Increase / decrease% indicates the percentage of each segment sales to net sales.
% in the increase/decrease column indicates the increase/decrease rate.

-2-

Operating profit(loss) by segment
Results for the Fiscal Year
Ended December 31, 2020

Results for the Fiscal Year
Ended December 31, 2021

Millions of yen%

Millions of yen%

Millions of yen(1,612)(1.1)(1,449)

(0.9)

163

－

Builders’ Hardware

799

8.5

362

3.8

(437)

(54.7)

Printing Equipment

(944)

(6.1)

(417)

(2.3)

527

－

Die Castings

Increase / decrease%% indicates the profit margin on sales.
% in the increase/decrease column indicates the increase/decrease rate.
3)

Outlook for the fiscal year ending December 31, 2022
While the effects of a resurgence of COVID-19, supply chain disruptions, soaring raw material prices, and other trends
and events are a cause for concern, we expect the economic situation to recover gradually.
Under these circumstances, as shown below, we currently expect higher sales and profits for the consolidated full-year
results for the fiscal year ending December 2022 compared to the current consolidated fiscal year.
The assumed foreign exchange rates are 112 yen to the US dollar, 150 yen to the British pound, 17.5 yen to the Chinese
yuan and 3.4 yen to the Thai baht.
Consolidated business forecast
Results for the Fiscal Year
Ended December 31, 2021

Forecasts for the Fiscal YearEnding December 31, 2022

Millions of yen

Millions of yen%%

240,000

Increase / decrease
Millions of yen%

41,92621.2

Net sales

198,073

Operating income(loss)(1,524)

(0.8)

5,300

2.2

6,824

－

Ordinary income

4

0.0

5,400

2.3

5,395

－

Profit (loss)
attributable toowners of parent(4,397)

(2.2)

3,800

1.6

8,197

－

% indicates the profit margin on sales.
% in the increase/decrease column indicates the increase/decrease rate.
The outlook for the full-year consolidated performance by segment for the next fiscal year is as follows:
We expect sales of the Die Castings business to increase both domestic and overseas markets. We anticipate automobile
production to recover gradually and segment sales to increase as a greater portion of the increase in raw material prices ispassed on to sales prices. We expect profits to increase thanks to higher sales.
Sales of the Builders’ Hardware business is expected to remain flat both domestically and overseas. We expect profits
to decline due to higher procurement costs generated by the strong Chinese yuan.
Sales of the Printing Equipment business is expected to increase both domestic and overseas markets. In Japan, sales are
expected to increase on the back of subsidies from the government and other entities, while overseas sales are expected toincrease due to recovery in exports to Europe and the United States. Higher sales are expected to boost profits.
Sales by segment
Results for the Fiscal Year
Ended December 31,2021

Forecasts for the Fiscal YearEnding December 31, 2022

Millions of yen%

Millions of yen%

Millions of yen%

169,898

85.8

208,100

86.7

38,201

22.5

Builder’s Hardware

9,574

4.8

9,400

3.9

(174)

(1.8)

Printing Equipment

18,393

9.3

Die Castings

Increase / decrease

22,500
9.4
4,106
22.3
% indicates the percentage of each segment sales to net sales.
% in the increase/decrease column indicates the increase/decrease rate.
-3-

Operating profit(loss) by segment
Results for the Fiscal Year
Ended December 31,2021

Forecasts for the Fiscal YearEnding December 31, 2022

Millions of yen%

Millions of yen%

Millions of yen(1,449)

(0.9)

4,600

2.2

6,049

－

Builder’s hardware

362

3.8

300

3.2

(62)

(17.2)

Printing Equipment

(417)

(2.3)

400

1.8

817

－

Die castings

Increase / decrease%% indicates the profit margin on sales.
% in the increase/decrease column indicates the increase/decrease rate.
(2) Overview of Financial Position for the Fiscal Year under Review
1)

Asset, liabilities and net assets
Total assets at the end of the fiscal year under review increased by 20,762 million yen from the end of the previous
consolidated fiscal year to 279,422 million yen. This increase was due mainly to increases in inventories of 11,120
million yen, notes and accounts receivable-trade of 4,170 million yen, retirement benefit asset of 2,438 million yen, andcash and deposits of 1,972 million yen. Certain assets declined, including a decline in property, plant and equipment of
1.8 billion yen.
Liabilities grew by 14,975 million yen from the end of the previous consolidated fiscal year to 147,705 million yen, due
mainly to increases in notes and accounts payable-trade of 12,491 million yen and long- and short-term borrowings of
5,893 million yen. Certain liabilities shrank, including bonds payable, which declined by 4.6 billion yen. Interest-bearing
debt outstanding, excluding discounted notes receivable and lease obligations, was 73,769 million yen.
Net assets increased by 5,786 million yen from the end of the previous consolidated fiscal year to 131,717 million yen,
due mainly to a foreign currency translation adjustment of 8,102 million yen and remeasurements of defined benefit
plans of 1,611 million yen. Decreases included a decrease in retained earnings of 4,721 million yen. Shareholders’equity—net assets minus non-controlling interests—increased by 5,778 million yen from the end of the previous fiscal
year to 122,926 million yen. As a result, the shareholders’ equity ratio decreased by 1.3 percentage points from the end of
the previous consolidated fiscal year to 44.0%.
As of December 31, 2020

As of December 31, 2021

Millions of yen

Millions of yen%%

279,422

Increase / decrease
Millions of yen%

20,762

8.0

Total asset

258,660

Net asset

117,14745.3

122,926

44.0

5,778

4.9

Interest-bearing
debt

72,47528.0

73,769

26.4

1,293

1.8

% indicates the percentage of each item to total assets.
% in the increase/decrease column indicates the increase/decrease rate.
2)

Cash flows
Cash and cash equivalents at the end of the fiscal year under review increased by 1,983 million yen from the end of theprevious consolidated fiscal year to 27,388 million yen.
Cash flows from operating activities increased by 14.9 billion yen. The increase in funds was due mainly todepreciation expenses of 17,240 million yen and an increase in trade payables of 11,934 million yen. Funds declined due
to an increase in inventories of 9,214 million yen and a loss before income taxes of 4,329 million yen, among otherfactors.
Cash flows from investing activities—primarily, expenditures of 11,851 million yen for the purchase of property, plantand equipment—reduced funds by 12,162 million yen.
Cash flows from financing activities decreased by 1,936 million yen. The decrease in funds due mainly to redemptionsof bonds of 4.6 billion yen. Funds increased due to other factors, including increases in long- and short-term borrowingsof 3,142 million yen.

-4-

Results for the Fiscal Year
Ended December 31,2020

Results for the Fiscal Year
Ended December 31,2021

Increase / decrease

Millions of yen

Millions of yen

Millions of yen

Cash flows fromoperating activities

11,795

14,9003,104Cash flows frominvesting activities(17,567)(12,162)

5,405

Cash flows fromfinancing activities

9,718(1,936)(11,655)

The trend in cash flow indicators is as follows.
Results for the Fiscal Year Ended
December 31,2020

Results for the Fiscal Year Ended
December 31,2021

Equity ratio

45.3%

44.0%

Equity ratio based on market value

15.6%

12.7%

Ratio of interest-bearing debt to cash flows

6.1 years

5.0 years

Interest coverage ratio

12.3 times

16.5 times(Notes)Equity ratio : Shareholders’ equity / Total asset
Equity ratio based on market value : Market capitalization / Total assets
Ratio of interest-bearing debt to cash flows: Interest-bearing debt / Cash flows from Operating
activities
Interest coverage ratio : Cash flows from Operating activities / Interest paid
1. Each indicator is calculated based on consolidated figures.
2. Market capitalization is calculated as the closing stock price at the end of the term × the numberof shares issued (net of treasury stock) at the end of the term.
3. Interest-bearing debt covers debt recorded on the consolidated balance sheet on which interest is
paid (discounted notes receivable and lease obligations are excluded).
4. Operating cash flow is the cash flow from operating activities stated on the consolidated cash
flow statement.
5. Interest paid is the amount of interest paid stated on the consolidated statement of cash flows.

(3) Basic Profit Allocation Policy, and Dividends for the Current and New Fiscal Year
Our basic policy for profit distribution is to maintain a stable return of profits to shareholders while securing funds for
growth investment along with a medium- to long-term improvement in consolidated operating performance. Funds
retained internally are used to strengthen our production and sales systems that account for changes in the businessenvironment, capital growth expenditures, the development of new technologies and products, operational rationalization,and other efforts to strengthen competitiveness and improve earnings power over the medium to long term.
Based on comprehensive considerations, including of the above policy and future improvements in earning power, thescheduled year-end dividend for the fiscal year ending December 2021 is 10 yen per share.
The planned dividend for the fiscal year ending December 2022 is 40 yen per share per annum (interim dividend of 20
yen and year-end dividend of 20 yen).
2. Basic Policy for the Selection of Accounting Standards
The Group’s policy is to prepare consolidated financial statements based on Japanese Accounting Standards withconsideration for inter-period and inter-company comparability.
Regarding the application of International Accounting Standards, our policy is to respond appropriately after taking into
account domestic and overseas conditions.

-5-3. Consolidated Financial Statements and Important Notes(1) Consolidated Balance Sheets(Millions of yen)
2020/12/31
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance costs
Total deferred assets
Total assets-6-

2021/12/31

26,56640,157759
15,353
12,32013,7143,379(32)
112,218

28,53844,327740
19,603
14,81318,092
3,505(30)
129,591

32,74150,334
15,964
14,323
5,595
118,959

32,79351,314
15,598
11,733
5,718
117,158

3,482
3,482

3,159
3,159

14,396
4,478
2,967
2,212
(63)
23,991
146,432

15,772
6,916
3,879
3,006
(62)
29,512
149,8308
8258,66000279,422

(Millions of yen)
2020/12/31
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of bonds payable
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-7-

2021/12/31

29,11525,595
4,600
7,110
476
390
16,601
83,89041,60636,4981,500
13,005636
387
17,131
110,765

1,500
33,670
2,085
510
8,055
3,017
48,839132,730－
22,765
2,948
510
7,872
2,842
36,939147,705

18,472
21,861
76,309(346)
116,295

18,472
21,87571,587(346)
111,588

4,733
810(3,814)
(877)
852
8,782
125,930
258,660

5,503
811
4,288
734
11,337
8,790
131,717
279,422

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income(Consolidated Statements of Income)(Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Rental income
Foreign exchange gains
Dividend income of insurance
Share of profit of entities accounted for using equity method
Usage income of trademark
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on abandonment of inventories
Foreign exchange losses
Depreciation
Other
Total non-operating expenses
Ordinary profit (loss)
Extraordinary income
Gain on disposal of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Impairment losses
Loss on valuation of investment securities
Loss on sale of investment securities
Loss on sale of shares of subsidiaries and associates
Total extraordinary losses
Loss before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Loss
Profit (loss) attributable to non-controlling interests
Loss attributable to owners of parent-8-

from:2020/1/1
to:2020/12/31

from:2021/1/1
to:2021/12/31

170,973
153,882
17,09018,879(1,789)198,073
179,600
18,472
19,996(1,524)

104
339
198
－
128
71
247
1,451
624
3,166

164
366
164
200
145
59
270
378
833
2,582

967
68
225
29
121
1,412
(35)

894
31
－
16
112
1,054
4

23
－
23

4
0
5

97
1,228
85
0
78
1,490
(1,501)
1,080(1,758)
(678)
(823)
(126)
(697)

203
4,134
2
－
－
4,339
(4,329)
1,001
(969)
31
(4,361)36(4,397)

(Consolidated Statements of Comprehensive Income)(Millions of yen)

Loss
Other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted for using
equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests-9-

from: 2020/1/1
to: 2020/12/31

from: 2021/1/1
to: 2021/12/31(823)(4,361)(763)
0(1,238)
350

771
0
7,821
1,618

23

281

(1,627)(2,451)

10,492
6,131(2,245)
(205)

6,087
43

(3) Consolidated Statements of Changes in Equity
Previous consolidated fiscal year (January 1, 2020 - December 31, 2020)(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of
periodChanges during period

Capital surplus

Retained earnings

Treasury shares

Total shareholders'equity21,854

78,139(346)

118,120

18,472

Dividends of surplus
Loss attributable to ownersof parent
Purchase of treasury shares
Change in ownershipinterest of parent due totransactions with noncontrolling interests
Net changes in items otherthan shareholders' equity(1,132)

(697)

(697)
(0)

(0)

6

6

－

6

(1,830)(0)(1,824)

18,472

21,861

76,309(346)

116,295

Total changes during period
Balance at end of period(1,132)

NonTotal net
controlling
assetsinterests

Accumulated other comprehensive income
Valuation
Total
difference
Foreign
Revaluation
Remeasurements accumulatedoncurrency
reserve forof defined
otheravailabletranslation
land
benefit plans comprehensive
for-saleadjustment
incomesecurities
Balance at beginning of
periodChanges during period

5,443

809

(2,626)(1,226)

2,400

9,054

Dividends of surplus(1,132)

Loss attributable to ownersof parent
Purchase of treasury shares
Change in ownershipinterest of parent due totransactions with noncontrolling interests
Net changes in items otherthan shareholders' equity

129,575

(697)
(0)
6

(710)

0

(1,187)348(1,548)(272)(1,821)

Total changes during period

(710)

0

(1,187)348(1,548)(272)(3,645)

Balance at end of period

4,733

810

(3,814)

(877)

852

8,782

125,930- 10 -

Consolidated fiscal year under review (January 1, 2021 - December 31, 2021)(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of
periodChanges during period

Capital surplus

Retained earnings

Treasury shares

Total shareholders'equity21,861

76,309(346)

116,295

18,472

Dividends of surplus
Loss attributable to ownersof parent
Purchase of treasury shares
Change in ownershipinterest of parent due totransactions with noncontrolling interests
Net changes in items otherthan shareholders' equity(323)(4,397)(4,397)
(0)

(0)

14

14

－

14

(4,721)(0)(4,707)

18,472

21,87571,587(346)

111,588

Total changes during period
Balance at end of period(323)

NonTotal net
controlling
assetsinterests

Accumulated other comprehensive income
Valuation
Total
difference
Foreign
Revaluation
Remeasurements accumulatedoncurrency
reserve forof defined
otheravailabletranslation
land
benefit plans comprehensive
for-saleadjustment
incomesecurities
Balance at beginning of
periodChanges during period

4,733

810

(3,814)

(877)

852

8,782

Dividends of surplus(323)

Loss attributable to ownersof parent
Purchase of treasury shares
Change in ownershipinterest of parent due totransactions with noncontrolling interests
Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

125,930(4,397)
(0)
14

770

0

8,102

1,611

10,485

8

10,494

770

0

8,102

1,611

10,485

8

5,786

5,503

811

4,288

734

11,337

8,790

131,717- 11 -

(4) Consolidated Statements of Cash Flows(Millions of yen)

Cash flows from operating activities
Loss before income taxes
Depreciation
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Subsidy income
Share of loss (profit) of entities accounted for using equity method
Loss (gain) on disposal of non-current assets
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Loss (gain) on sale of shares of subsidiaries and associates
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in trade payables
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Subsidies received
Income taxes refund (paid)
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of securities
Proceeds from sale of securities
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from sale of shares of subsidiaries and associates
Payments into time deposits
Proceeds from withdrawal of time deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Redemption of bonds
Purchase of treasury shares
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 12 -

from: 2020/1/1
to: 2020/12/31

from: 2021/1/1
to: 2021/12/31(1,501)
16,402
1,228
(14)
(185)
131
(443)
967
(1,451)
(71)
75
0
85
78
819
3,382
(524)
(6,477)72(213)
12,360
463
(958)
1,267
(1,338)
11,795(4,329)17,240
4,134
(3)
(3)
33
(530)
894
(378)
(59)
198
－
2
－
(2,520)(9,214)(208)
11,934(1,253)(424)
15,510
613
(904)
455
(773)
14,900(20,291)
1,148(1,330)
1,340
(32)
15
2,630
(2,404)2,404(1,049)(17,567)(11,851)520(1,300)
1,330
(15)
13
－
(2,404)
2,404(859)(12,162)

2,315
18,670(7,606)(2,300)(0)(1,135)
(225)
9,718
103
4,048
21,35625,4059,325
1,866(8,050)(4,600)
(0)
(328)
(150)
(1,936)
1,182
1,983
25,40527,388(5) Notes Regarding the Consolidated Financial Statements(Note related to going-concern assumption)
Not applicable.
(Segment information)a. Segment Information
1. Overview of reported segments
The Company's reported segments are the constituent units of the Company for which separate financial information isavailable. They are subject to periodic review by the board of directors to determine the allocation of the company’s
resources and to provide a management evaluation.
The Group consists of product-based segments, with Die Castings, Builders’ Hardware, and Printing Equipment
representing the three reported segments.
Die Castings consists of die-cast products and aluminum castings used as components for automobiles and otherequipment.
Builders’ Hardware consists of door closers and other products.
Printing Equipment consists of offset-printing machines, printing peripheral equipment, and other products.
2. Method of calculating amounts of net sales, profits or losses, assets and other items by reportable segment
The earnings of the reported segments are operating profits or operating losses. Intersegment sales or transfers are basedon arm’s-length prices.
3. Information regarding amounts of net sales, profits or losses, assets and other items by reportable segment
Previous consolidated fiscal year (from January 1, 2020 to December 31, 2020)(Millions of yen)
Die
Castings
Net Sales:
Unaffiliatedcustomers
Intersegment

145,869

Total

Reported segment
Builders’Printing
Hardware Equipment

Total

Other
(Note)1

Total

Adjustment(Note)2

Consolidated(Note)3

170,789

183

170,973

－

53

33

87

(87)

－

9,406

15,513－－145,922

9,406

15,513

170,843217

171,060(87)

170,973

Segment profit(loss)(1,612)

799

(944)

(1,757)(31)(1,789)0(1,789)Segment assets

202,516

9,931

19,996

232,444303

232,748

25,911

258,660

53

170,973

Other items
Depreciation
15,919187
280
16,38615
16,402－
16,402
Amount invested
in equity-method
－
2,039
－
2,039
－
2,039
－
2,039
affiliates
Increase in tangible
fixed assets and16,687470
217
17,37517
17,392－
17,392
intangible fixed
assets(Notes) 1. Other refers to business segments not included in the reported segments, including the insurance agency businessand golf course management.
2. The adjustment amounts are as follows:(1) Adjustments to segment profits or losses are due to the elimination of inter-segment transactions, etc.
(2) Adjustments to segment assets are due to corporate assets and the elimination of inter-segment transactions,etc.
3. Segment profit or loss matches the operating loss stated on the consolidated income statement.

- 13 -

Consolidated fiscal year under review(from January 1, 2021 to December 31, 2021)(Millions of yen)
Die
Castings
Net Sales:
Unaffiliatedcustomers
Intersegment

169,898

Total

Reported segment
Builders’Printing
Hardware Equipment

Total

Other
(Note)1

Total

Adjustment(Note)2

Consolidated(Note)3

197,867

205

198,073

－

75

24

99

(99)

－

9,574

18,393－－

169,974

9,574

18,393

197,942229

198,172(99)

198,073

Segment profit(loss)(1,449)

362

(417)

(1,505)(18)(1,523)(0)(1,524)

Segment assets

214,262

10,60622,240247,109179

247,289

32,133

279,42275

198,073

Other items
Depreciation
16,783
195
258
17,2372
17,240－17,240
Amount invested
in equity-method
－
2,312
－
2,312
－
2,312
－
2,312
affiliates
Increase in tangible
fixed assets and12,829139
53
13,021
48
13,070－13,070intangible fixed
assets(Notes) 1. Other refers to business segments not included in the reported segments, including the insurance agency businessand golf course management.
2. The adjustment amounts are as follows:(1) Adjustments to segment profits or losses are due to the elimination of inter-segment transactions, etc.
(2) Adjustments to segment assets are due to corporate assets and the elimination of inter-segment transactions, etc.
3. Segment profit or loss matches the operating loss stated on the consolidated income statement.
b. Related information
Previous consolidated fiscal year (from January 1, 2020 to December 31, 2020)
1. Information by product and service
It is omitted here because similar information is disclosed in the segment information section.
2. Information by region(1) Net sales(Millions of yen)Japan
U.S.A.
China
OthersTotal
91,08817,242
34,26428,377
170,973(Notes) Sales by region are based on the locations of customers and are classified by country or region.
(2) Tangible fixed assets
Japan
54,151

U.S.A.
13,001

Mexico9,770

China
29,688Others12,347(Millions of yen)Total
118,959

Consolidated fiscal year under review(from January 1, 2021 to December 31, 2021)
1. Information by product and service
It is omitted here because similar information is disclosed in the segment information section.
2. Information by region(1) Net sales(Millions of yen)Japan
U.S.A.
China
OthersTotal
103,649
20,81438,60535,003
198,073(Notes) Sales by region are based on the locations of customers and are classified by country or region.

- 14 -

(2) Tangible fixed assets
Japan
51,191

U.S.A.
14,271

Mexico9,951

China
32,940

Others8,803(Millions of yen)Total
117,158

c. Information on impairment losses on fixed assets by reported segment
Previous consolidated fiscal year (from January 1, 2020 to December 31, 2020)

Impairment
loss

Die Castings

Builders’
HardwarePrinting
Equipment－－－(Millions of yen)
Eliminations /Total
Corporate

Other
1,107

121

1,228

Consolidated fiscal year under review(from January 1, 2021 to December 31, 2021)
Die Castings
Impairment
loss

3,993

Builders’
HardwarePrinting
Equipment－－(Millions of yen)
Eliminations /Total
Corporate

Other
140

－

4,134

(Per share information)
Previous consolidated
Consolidated fiscal year
fiscal year
under review(from January 1, 2020
(from January 1, 2021
to December 31, 2020)
to December 31, 2021)
Net asset per share
3,619.16 yen
3,797.69 yen
Loss per share(21.54) yen(135.87) yen
Fully diluted net income per share－－(Notes) 1. Diluted net income per share was omitted because there are no dilutive shares.
(Notes) 2. The basis for calculating net loss per share ( ) is as follows.

Previous consolidated
fiscal year
(from January 1, 2020
to December 31, 2020)
Loss attributable to owners of parent(million yen)Amount not attributable to commonshareholders (million yen)
Loss attributable to owners of parent inrelation to common shares (million yen)
Average number of shares during the
fiscal year (thousand shares)

Consolidated fiscal year
under review(from January 1, 2021
to December 31, 2021)

(697)
－

(Important subsequent events)
Not applicable.

- 15 -(4,397)－(697)(4,397)32,36832,368

4. Non-consolidated Financial Statements and Important Note
(1) Balance Sheets(Millions of yen)
2020/12/31
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims - operating
Accounts receivable - trade
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Accounts receivable - other
Short-term loans receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Structures
Machinery and equipment
VehiclesTools, furniture and fixtures
Land
Construction in progress
Other
Total property, plant and equipment
Intangible assets
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Shares of subsidiaries and associates
Investments in capital of subsidiaries and associates
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance costs
Total deferred assets
Total assets- 16 -

2021/12/31

10,063499
2,091
18,438
650
5,830
5,993
2,076
4,563
7,050
181
(0)
57,438

13,204492
2,452
23,047
650
6,184
6,939
2,956
3,942
6,604
175
(1,554)65,094

10,332
665
7,391
54
2,964
12,1215,465
438,999

9,722
662
7,987
66
2,892
11,8272,721
235,882

2,192
48
2,241

1,747
31
1,779

10,636
19,462
29,041
6,508(941)
64,707
105,947

11,734
17,78929,041
6,763(1,057)64,271
101,93388
163,39400
167,028

(Millions of yen)
2020/12/31
Liabilities
Current liabilities
Electronically recorded obligations - operating
Accounts payable - trade
Short-term borrowings
Current portion of bonds payable
Current portion of long-term borrowings
Accounts payable - otherAccrued expenses
Income taxes payable
Provision for bonuses
Deposits received from employees
Electronically recorded obligations-facilities
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Provision for retirement benefits
Deferred tax liabilities
Provision for loss on guarantees
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Legal capital surplus
Other capital surplus
Total capital surplus
Retained earnings
Other retained earnings
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets- 17 -

2021/12/31

7,953
11,881
22,190
4,600
1,855
3,735
862
42
198
1,649
592
321
55,883

12,371
14,73526,490
1,500
8,855
3,101
810
191
189
1,634
354
177
70,4101,500
25,616
5,719
281
－
38
33,15589,038－17,060
5,720
499
1,874
34
25,18895,59918,472

18,472

11,617
10,052
21,66911,617
10,052
21,66930,12630,126(346)
69,922

26,431
26,431(346)
66,2264,433
4,433
74,356
163,394

5,202
5,202
71,429167,028

(2) Statements of Income(Millions of yen)
from:2020/1/1
to:2020/12/31
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Rental income
Outsourcing service income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Depreciation
Loss on abandonment of inventories
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on disposal of non-current assets
Gain on sale of investment securities
Gain on sale of shares of subsidiaries and associates
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Impairment losses
Loss on valuation of investment securities
Loss on valuation of shares of subsidiaries and associates
Loss on valuation of golf club membership
Provision of allowance for doubtful accounts
Provision for loss on guarantees
Total extraordinary losses
Loss before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)- 18 -

from:2021/1/1
to:2021/12/31

76,83669,701
7,134
11,657(4,522)92,50882,291
10,217
12,085(1,868)

62
4,176
481
299
－
1,253
6,273

71
2,577
442
258
176
1,020
4,547

318
188
34
257
101
900
851

313
159
13
－
71
558
2,120

2
－
308
311

0
0
－
1

8
121
50
106
55
878
－
1,221
(58)
6
(806)
(799)
741

87
－
2
1,678
－
1,671
1,874
5,314
(3,193)
295
(116)
178
(3,372)

(3) Statements of Changes in Equity
Previous non-consolidated fiscal year (from January 1, 2020 to December 31, 2020)(Millions of yen)
Shareholders' equity
Capital surplus

SharecapitalBalance at beginning of
period18,472Legalcapitalsurplus11,617

Other
capitalsurplusTotal
capitalsurplus10,052

21,669Retained earnings
Otherretainedearnings
Total
retained
Retainedearnings
earnings
brought
forward

Total
Treasuryshareholders'sharesequity30,51830,518(346)

70,313(1,132)(1,132)(1,132)

741

741

741

Changes during period
Dividends of surplus
Loss
Purchase of treasury
sharesNet changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period

－

－

－

(391)

(391)

(0)

(391)

18,472

11,617

10,052

21,66930,12630,126(346)

69,922

4,947

4,947

Dividends of surplus
Loss
Purchase of treasury
sharesNet changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period(0)－

Valuation andtranslation adjustments
Valuation
Total
Total netdifference
valuationassetsonandavailabletranslation
for-saleadjustments
securities
Balance at beginning of
periodChanges during period(0)75,261(1,132)
741
(0)
(513)

(513)

(513)

(513)

(513)

(905)

4,433

4,433

74,356- 19 -

Non-consolidated fiscal year under review (January 1, 2021 - December 31, 2021)(Millions of yen)
Shareholders' equity
Capital surplus

SharecapitalBalance at beginning of
period18,472Legalcapitalsurplus11,617

Other
capitalsurplusTotal
capitalsurplus10,052

21,669Retained earnings
Otherretainedearnings
Total
retained
Retainedearnings
earnings
brought
forward

Total
Treasuryshareholders'sharesequity30,12630,126(346)

69,922

Dividends of surplus

(323)

(323)

(323)

Loss
Purchase of treasury
sharesNet changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period(3,372)(3,372)(3,372)

Changes during period

(0)

－

－

－

－

(3,695)(3,695)(0)(3,695)

18,472

11,617

10,052

21,66926,431

26,431(346)

66,226

Valuation andtranslation adjustments
Valuation
Total
Total netdifference
valuationassetsonandavailabletranslation
for-saleadjustments
securities
Balance at beginning of
periodChanges during period

(0)

4,433

4,433

74,356

Dividends of surplus

(323)

Loss
Purchase of treasury
sharesNet changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period(3,372)
(0)
768

768

768

768

768

(2,927)

5,202

5,202

71,429- 20 -

5. Others
Changes in Officers (scheduled for March 29, 2022)
Changes in other officers
・Directors scheduled to retire
Name
Current position
Takashi Suzuki
Director, Corporate Officer, andDirector of Tokyo Branch
Divisional General Manager of the
Builders’ Hardware Division
・Candidate for new standing corporate auditorName
New position
Takashi Suzuki
Standing Corporate Auditor

Current position
Director, Corporate Officer, andDirector of Tokyo Branch
Divisional General Manager of the
Builders’ Hardware Division

・Standing corporate auditor scheduled to retire
Name
Current position
Yoshimi Takino
Standing Corporate Auditor- 21 -

Supplementary materials for financial results for the fiscal year ended December 31, 2021
Feburary 14, 2022
RYOBI LIMITED

Consolidated(unit: millions of yen, %)'18/12'19/12
ratio

ratio

Net sales
Operating profit

216,187
13,5796.3

8,495

Ordinary profit

13,965

6.5

Profit attributable toowners of parent

8,588

4.0

Price earnings ratio(unit: yen)
Return on equity (%)

265.32151.797.4
5.2

Ordinary profit tototal asset ratio (%)'20/12

220,519'21/12
ratio'22/12 (Forecast)First half
ratio

ratio

240,000

ratio

170,973

198,073

114,800

3.9(1,789) (1.0)(1,524) (0.8)

5,300

2.2

1,800

1.6

8,734

4.0

(35) (0.0)

4

0.0

5,400

2.3

1,800

1.6

4,913

2.2

(697) (0.4)(4,397) (2.2)

3,800

1.6

1,200

1.0

(21.54)(135.87)

117.40

37.07

4.1

(0.6)

(3.7)

－

－

3.3

(0.0)

0.0

－

－

Net sales by segment
ratio

ratio

ratio

ratio

ratio

ratio

Die Castings
Builders' Hardware

188,403 87.1 185,938 84.3 145,869 85.3 169,898 85.8 208,100 86.7 100,000 87.1
7,885

3.6

10,712

4.9

9,406

5.5

9,574

4.8

9,400

3.9

4,500

3.9

Printing Equipment

19,704

9.1

23,661 10.7

15,513

9.1

18,3939.3

22,5009.4

10,300

9.0

In Japan

97,746 45.2 116,571 52.9

91,088 53.3 103,649 52.3 121,400 50.6 58,600 51.0

Overseas118,440 54.8 103,948 47.1

79,884 46.7

94,424 47.7 118,600 49.4 56,200 49.0

Operating profit by segment
ratio

ratio

ratio

ratio

ratio

ratio

12,580 6.7

7,659 4.1

(1,612) (1.1)(1,449) (0.9)

4,600 2.2

1,600 1.6

Builders' Hardware

372 4.7

697 6.5

799 8.5

362 3.8

300 3.2

100 2.2

Printing Equipment

603 3.1

144 0.6(944) (6.1)(417) (2.3)

400 1.8

100 1.0

－

－

－

－

Die Castings

ratio

ratio

258,660

ratio

268,982

Shareholders' equity

116,705 43.4 120,520 45.8 117,147 45.3 122,926 44.0

Retained earnings

74,831 27.8

78,139 29.7

76,309 29.5

71,587 25.6－－

Interest-bearing debt

61,912 23.0

61,908 23.5

72,475 28.0

73,769 26.4 73,000－

Capital expenditure

19,987

24,83917,392

13,07017,000－Depreciation

12,531

15,37016,402

17,24018,000－24,66430,326

11,795

14,900－－(17,547)(26,278)(17,567)(12,162)－－(9,139)(2,268)

9,718(1,936)－

Cash flows fromoperating activities
Cash flows frominvesting activities
Cash flows fromfinancing activities

263,179

ratio

Total asset

279,422－(unit: people)

Year-end staff

7,819

7,683

Assumed foreign exchange rates for FY2022

7,396

7,243

－

－

USD/JPY
CNY/JPY

112
17.5

GBP/JPY
THB/JPY150
3.4