Consolidated Financial Results
for the Six Months Ended June 30, 2019
(Japanese GAAP)
August 5, 2019
Company Name: RYOBI LIMITED
Stock Code: 5851
(URL: http://www.ryobi-group.co.jp/)
Stock Exchange Listing: Tokyo
Representative: Akira Urakami, President and Chief Executive Officer
Contact: Hiromu Arihiro, Corporate Officer General Manager of Finance Department
Phone: +81-3-3501-0511
Scheduled date to submit the Quarterly Securities Report: August 8, 2019
Scheduled date to commence dividend payments: August 30, 2019
Availability of supplementary briefing material on quarterly results : Yes
Presentation Meeting : Yes (for financial analysts / investors)(Any amount less than one million is disregarded.)

1. Consolidated Financial Results for the Six Months Ended June 30, 2019
(From January 1, 2019 to June 30, 2019)(1) Consolidated Results of Operations(% indicates changes from the previous fiscal year.)
Profit attributable
Net sales
Operating profit
Ordinary profit
to owners of parent
Millions of yen% Millions of yen% Millions of yen%
Six months ended
112,099
–
4,805
–
4,813
–
June 30, 2019
Six months ended
151,053
10,333
10,655–––September 30, 2018
(Note) Comprehensive income: Six months ended June 30, 2019: 2,440 million yen [－%]
Six months ended September 30, 2018: 7,479 million yen [－%]
Profit per share–8,309–Fully diluted profit
per share

Yen

Six months ended
June 30, 2019
Six months ended
September 30, 2018

Millions of yen
3,683

113.79Yen–

256.70–* With regard to the fiscal year ended December 31, 2018, which fell under the transitional period, the consolidated fiscal
period for the six months ended September 30, 2018 of the Company and its domestic consolidated companies was the sixmonth period from April 1, 2018 to September 30, 2018. For overseas consolidated companies, the consolidated fiscal period
was the nine-month period from January 1, 2018 to September 30, 2018. For this reason, the report does not indicate year-onyear percentage changes.
* Because the Company has finalized the provisional accounting for business combinations in the fiscal year ended December
31, 2018, the Company has reflected the contents of the finalized provisional accounting on the values for the six months
ended September 30, 2018.

(2) Consolidated Financial Position

As of June 30, 2019
As of December 31, 2018

Shareholders'equity ratio

Total assets

Net assets

Millions of yen
265,672

Millions of yen
127,459%44.6

268,982

125,521

43.4(Reference) Shareholders' Equity: As of June 30, 2019: 118,527 million yen
As of December 31, 2018: 116,705 million yen-1-%

2. Dividends
Cash dividends per share

FY December 2018

End of 1Q
Yen–

End of 2Q
Yen
35.00

–35.00FY December 2019
FY December 2019
(Forecast)End of 3Q
Yen–Year-end
Yen
35.00

AnnualYen
70.00–35.0070.003. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2019
(From January 1, 2019 to December 31, 2019)

Full year

Net sales

Operating profit

Ordinary profit

Millions of yen %224,500–

Millions of yen %8,100–

Millions of yen%
8,000–

Profit attributable
Profit per shareto owners of parent
Millions of yen%
Yen
5,800–
179.18* With regard to the fiscal year ended December 31, 2018, which fell under the transitional period, the consolidated fiscal
year of the Company and its domestic consolidated companies was the nine-month period from April 1, 2018 toDecember 31, 2018. For overseas consolidated companies, the consolidated fiscal period was the 12-month period fromJanuary 1, 2018 to December 31, 2018. For this reason, the report does not indicate year-on-year percentage changes.
＊Notes(1) Significant changes of companies during the fiscal year ended June 30, 2019 (changes in specificcompanies involving changes in the scope of consolidation): Not applicable(2) Adoption of specific accounting treatments to the preparation of consolidated quarterly financial
statements: Not applicable(3) Changes in accounting policies, changes in accounting estimates and restatements
1) Changes in accounting policies due to the revision of accounting standards: Applicable
2) Changes in accounting policies other than 1): Not applicable
3) Changes in accounting estimates: Not applicable4) Restatements: Not applicable(4) Shares issued (common stock)
1) Shares issued (including treasury stock)
As of December 31, 2018
32,646,143
32,646,143
As of June 30, 20192) Treasury stock
277,113
277,069
As of December 31, 2018
As of June 30, 20193) Average shares outstanding during the period
Six months ended June 30, 2019
Six months ended September 30, 2018 32,369,086
32,369,042* These consolidated quarterly financial results are outside the scope of the quarterly review.
* 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 tobe a commitment by the Company. Therefore, there might be cases in which actual results differ from forecast values.

-2-Comparative Balance Sheets (Consolidated)(Millions of yen)
December 31, 2018
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, netLand
Construction in progress
Other, net
Total property, plant and equipmentIntangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance cost
Total deferred assets
Total assets-3-

June 30, 2019

20,79158,358770
17,04914,006
15,842
3,711(260)
130,269

24,12044,684768
17,753
14,293
15,4093,404(251)
120,182

32,30546,821
18,2899,928
4,946
112,291

33,31647,413
18,29913,8195,425
118,274

3,504
3,504

3,639
3,639

17,726
5,203(66)22,862
138,658

17,8455,755(67)
23,533
145,44654
54
268,98243
43
265,672

Comparative Balance Sheets (Consolidated)(Millions of yen)

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Provision for bonuses
Provision for directors' bonuses
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term loans payable
Net defined benefit liability
Other
Total non-current liabilities
Total liabilitiesNet assets
Shareholders' equity
Capital stock
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-4-December 31, 2018

June 30, 201945,196
24,774
7,481
772
762
45
21,884
100,91737,03526,057
8,348
517
738
－
25,301
97,9998,400
21,256
8,369
4,517
42,542
143,460

8,400
18,7597,932
5,121
40,214
138,213

18,472
21,82074,831(346)
114,777

18,472
21,84678,036(346)
118,009

5,127
808(1,530)(2,478)1,927
8,816
125,521268,9825,224
811(3,248)(2,268)518
8,931
127,459
265,672

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

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rent income
Foreign exchange gains
Share of profit of entities accounted for using equity
methodUsage income of trademark
Other
Total non-operating income
Non-operating expenses
Interest expenses
Sales discounts
Foreign exchange losses
Depreciation
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on disposal of non-current assets
Gain on sales of investment securities
Gain on bargain purchaseTotal extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit attributable to non-controlling interestsProfit attributable to owners of parent-5-

Six months ended
September 30, 2018

Six months ended
June 30, 2019

151,053
128,751
22,301
11,968
10,333112,099
96,48015,618
10,813
4,805

59
211
238
69

50
204
165
－

52
144
561
1,336

83
133
195
832

859
4－
27
124
1,015
10,655

538
7
175
22
79
823
4,813

140
646
661

53
28－
82

57
57
11,258
2,670
8,587
278
8,309

56
56
4,839
1,011
3,827
144
3,683

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

ProfitOther comprehensive incomeValuation 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-controllinginterests-6-

Six months ended
September 30, 2018

Six months ended
June 30, 2019

8,587

3,827

184－(1,438)
145

115
2(1,634)
212(0)(1,108)7,479(83)(1,387)
2,440

7,202

2,273276

166

Comparative Statements of Cash Flows (Consolidated)(Millions of yen)Six months ended
September 30, 2018
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in net defined benefit liability
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on sales of investment securities
Loss (gain) on disposal of non-current assets
Gain on bargain purchase
Decrease (increase) in notes and accounts receivable trade
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in notes and accounts payable trade
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes (paid) refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of securities
Proceeds from sales of securities
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Payments for transfer of business
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 loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Purchase of treasury shares
Cash dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cashequivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period-7-

Six months ended
June 30, 201911,258
8,902
(3)
(13)
69(271)
859

4,839
7,399
(2)
(23)
(238)
(254)
538

(52)
(0)
43(646)

(83)
(28)
2－

2,014
(5,068)518

12,580
(963)
148

1,054
447(402)18,709271(879)(1,595)
16,505(8,012)
1,448(218)
17,131
278
(547)
(470)
16,392(9,661)(10,869)

15(30)
30
(23)
0

150
(680)
680
(6)
45

(1,058)－(34)
34(715)(11,442)－(1,221)(1,214)1,214(226)(12,127)

(296)
1,691
(4,959)(0)(1,130)(27)(4,723)

1,719
2,447
(3,730)(0)(1,132)
(94)
(789)

(140)
199
21,931
22,131(148)
3,326
19,632
22,958

Segment Information
Industry Segment Information
Six months ended September 30, 2018
(Millions of yen)
DieCastingsBuilders’HardwarePrinting
Equipment

133,127

5,024

12,762

72－

133,200
9,743

Eliminations /Corporate

Consolidated

138－

151,053－

39(112)－

5,024

12,762

177(112)

151,053

214

347

28(0)

10,333

Builders’
HardwarePrinting
Equipment

95,264

5,087

11,653

66

－

Total

95,330Operating income

4,421

Other

Net Sales:
Unaffiliated customers
Intersegment
Total
Operating income

Six months ended June 30, 2019
(Millions of yen)
Die
Castings

Eliminations /Corporate

Consolidated

93－

112,099－

31(98)－

5,087

11,653125(98)112,099

245

139

(1)

04,805OtherNet Sales:
Unaffiliated customers
Intersegment* All amounts have been rounded down to the nearest million yen.

-8-