Ryobi Limited

Financial summary for the Nine Months
Ended September 30, 2023
November 13, 2023

1. Results for the Nine Months
Ended September 30, 2023

1. Results for the Nine Months Ended September 30, 2023

Highlights of Financial Results➢ Consolidated results: Sales and profit increased compared to theprevious corresponding period.
Die Castings• Sales increased both in Japan and overseas. Sales increased due to the recovery inautomobile production alongside improvements in semiconductor supply system.
Additionally, sales of overseas subsidiaries increased because the weakening yenboosted translated sales figures at overseas subsidiaries.
• Growth in sales boosted profits, despite rising energy costs, increasing labor costs andother factors.
Builders’ Hardware• Sales increased both in Japan and overseas.
• Despite efforts to cut fixed costs, profits fell due to rising procurement costs of products
produced overseas.
Printing Equipment• Sales increased both in Japan and overseas. Increased capital investment bygovernment subsidies in Japan boosted sales.
• Profits fell due to factors such as the impact of soaring raw material prices, despite
efforts to improve productivity and cut fixed costs.

➢ FY2023 forecasts• Sales and profit increase from the previous fiscal year.
(No changes from the last announcement on July 20th.)
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1. Results for the Nine Months Ended September 30, 2023

Results Summary
Under the uncertain situation for various reasons, including the Ukraine conflict, rising resource and energy prices, andfluctuating prices and exchange rates accompanying global monetary tightening, both sales and profit increased fromthe previous corresponding period thanks to recovery in domestic and foreign automobile production.
(Unit: Billions of Yen)FY2022 3Q
Results

FY2023 3Q
Results

Change

179.3

203.2

23.9(13.3%)

Operating income

2.9

8.55.5(187.4%)

Ordinary income

4.0

9.9

5.9(148.1%)

Net income
attributable toowners of parent

2.2

7.1

4.9(219.6%)

Net sales

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1. Results for the Nine Months Ended September 30, 2023

Analysis of Changes in Net Sales
Sales increased by 23.9 billion yen due to the weaker yen and an increase in die castings
production volumes.
(Unit: Billions of Yen)

Increase/decrease inproduction,etc.
Currencyeffects

Rawmaterial(aluminum)
price+6.6

−2.1

+19.4

203.2

179.3
0

FY2022 3Q

FY2023 3Q

Exchange rates (average for the period)

USD

GBP

CNY

THB

FY2022 3Q¥126.17¥160.05¥19.19¥3.66

FY2023 3Q¥137.69¥171.15¥19.58

¥3.99

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1. Results for the Nine Months Ended September 30, 2023

Results by Business Segment
Die Castings:

Despite the effects of rising energy prices and other factors, recovery in automobile production led to higher sales
and profitability.
Builders’ Hardware: Domestic and overseas sales increased, but profitability declined due to higher procurement costs for overseas
production and other factors.
Printing Equipment: Domestic and overseas sales increased, but profitability declined due to rising raw material prices.
(Unit: Billions of Yen)FY2022 3Q
Results

FY2023 3Q
Results

Net sales

179.3

203.2

Die castings

155.9

178.2

7.4

7.8

15.9

17.0

Operating income

2.9

8.5

Die castings

1.9

7.7

0.2

0.1

0.9

0.6

Builders’
hardwarePrinting
equipment

Builders’
hardwarePrinting
equipment

Change23.9(13.3%)
22.3(14.3%)
0.5(6.3%)
1.1(7.1%)
5.5(187.4%)
5.8(311.8%)-0.0(-20.6%)-0.3(-28.8%)
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1. Results for the Nine Months Ended September 30, 2023

Consolidated Balance Sheet
Total assets increased by 21.5 billion yen compared to the end of the previous fiscal year, of which 13.5 billion yen
was due to the impact of foreign exchange fluctuations.
Notes and accounts receivable-trade increased by 3.4 billion yen due to benefit of increasing for both domestic andoverseas sales. (without currency translation effect)(Unit: Billions of Yen)FY2022 FY2023 3Q Change

Currency
Translation
Effect

145.3

156.3

10.9

6.1

Cash and deposits

27.3

25.9

-1.4

0.6

Notes andaccounts
receivable – trade

58.3

64.3

6.0

2.6

Securities

0.7

0.7

0.0

-

Inventories

55.5

61.6

6.2

2.8

3.6

3.8

0.2

0.1

Non-current assets

154.9

165.5

10.6

7.4

Property, plantand equipment

124.0

128.2

4.2

7.0

Intangible assets

2.8

2.7

-0.1

0.1

Investments andother assets

28.2

34.6

6.4

0.3

----

300.3

321.8

21.5

13.5

Current assets

Other

Deferred assets
Total assets

Exchange rates (as of end of period)
FY2022
FY2023 3QUSD¥132.70¥149.58

FY2022 FY2023 3Q Change

Currency
Translation
Effect

114.7

121.4

6.7

4.6

Notes andaccounts payable– trade

46.5

48.3

1.8

1.1

Short-termborrowings

46.5

50.5

4.0

2.4

Other

21.7

22.6

1.0

1.2

41.9

40.0

-1.9

1.0

27.9

24.0

-3.9

0.8

14.0

16.0

2.0

0.2

116.1

121.7

5.6

-18.3

29.4

11.1

7.9

9.3

9.2

-0.0

-

Total net assets

143.7

160.4

16.6

7.9

Total liabilities andnet assets
GBP

300.3

321.8

21.5

13.5

Current liabilities

Non-currentliabilities
Long-term
borrowings
Other
Shareholders’ equity

Accumulated othercomprehensive
incomeNon-controllinginterests¥160.00¥182.53

CNY¥19.01¥20.46

THB
¥3.80
¥4.09

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1. Results for the Nine Months Ended September 30, 2023

Change in Cash Flows
Of the −8.3 billion yen in others of operating CF, −6.1 billion yen was increasing in working capital
due to an increase of sales.
(Unit: Billions of Yen)

Free CF +3.2
Operating CF +14.9

Investing CF

Financing CF−11.7−5.3

OthersDepreciation

+13.4
Net
incomebeforeincometax

26.1

FY2022
Balance

+9.9

−8.3

Dividends,
etc.
Capitalinvestment

−10.9

−2.2

Other−0.8

Borrowing,
etc.

−3.1

Exchangeconversion

+0.5
24.6

FY2023 3Q
Balance8/12

2. Forecasts for the Fiscal YearEnding December 31, 2023

2. Forecasts for the Fiscal Year Ending December 31, 2023

Forecasts
Sales and profit are expected to increase year on year thanks to cost savings,
productivity improvements, and increased production volumes.
(No changes from the last announcement on July 20th.)(Unit: Billions of Yen)FY2022
ResultsNet sales

Operatingincome

Ordinary
incomeNet income
attributable toowners of parent

249.5

7.0

7.8

4.8

FY2023
Forecasts

270.0

10.5

12.0

8.4

Change20.5(8.2%)
3.5(50.7%)
4.2(54.0%)
3.6(75.6%)
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2. Forecasts for the Fiscal Year Ending December 31, 2023

Forecasts by Business Segment
Die Castings:

Sales and profit are expected to increase year on year thanks to cost savings, productivity
improvements, and increased automobile production volumes.
Builders’ Hardware: Sales are expected to increase. Profit is expected to increase despite continuing increases inprocurement costs.
Printing Equipment: Sales are expected to remain largely unchanged year on year. The high cost of raw materials is
expected to result in lower profit, despite efforts to control fixed costs.
(Unit: Billions of Yen)FY2022
Results

FY2023
Forecasts

Net sales

249.5

270.0

Die castings

215.7

235.7

Builders’
hardware

10.1

11.0

Printing
equipment

23.4

23.3

Operating income

7.0

10.5

Die castings

5.2

9.5

Builders’
hardware0.2

0.3

Printing
equipment

1.5

0.7

Change20.5(8.2%)
20.0(9.3%)
0.9(8.4%)-0.1(-0.5%)
3.5(50.7%)
4.3(81.6%)
0.1(32.7%)-0.8(-53.5%)

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About forward-looking statements
This document contains forward-looking statements regarding matters such as Ryobi’s businessplans, strategies, and operating results.
Such forward-looking statements reflect Ryobi’s judgements based on information available at thetime of preparation. They involve inherent risks and uncertainties.
Ryobi’s actual activities and operating results may differ from these forward-looking statements
due to economic conditions, the business environment, trends in market demand, trends inexchange rates, and other factors.

Unauthorized copying and replication are prohibited.
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