Consolidated Financial Results
for the Nine Months Ended September 30, 2019
(Japanese GAAP)
November 11, 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: November 12, 2019
Availability of supplementary briefing material on quarterly results : Yes
Presentation Meeting : Not Scheduled(Any amount less than one million is disregarded.)

1. Consolidated Financial Results for the Nine Months Ended September 30, 2019
(From January 1, 2019 to September 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%
Nine months ended
167,081
–
6,827
–
6,965
–
September 30, 2019
Nine months ended－－－
September 30, 2018
(Note) Comprehensive income: Nine months ended September 30, 2019: 2,824 million yen [－%]
Nine months ended September 30, 2018:－million yen [－%]Yen

Fully diluted profit
per shareYen

153.97－－－Profit per share
Nine months ended
September 30, 2019
Nine months ended
September 30, 2018

Millions of yen
4,983－* With regard to the fiscal year ended December 31, 2018, which fell under the transitional period, consolidated financial
statements for the nine months ended September 30, 2018 were not prepared. For this reason, the report does not indicate
consolidated results of operations for the nine months ended September 30, 2018 and year-on-year percentage changes.

(2) Consolidated Financial Position
Shareholders'equity ratio

Total assets

Net assets

As of September 30, 2019

Millions of yen
256,182

Millions of yen
126,697%
45.9

As of December 31, 2018268,982

125,521

43.4(Reference) Shareholders' Equity: As of September 30, 2019: 117,633 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

End of 3Q
Yen––35.00–

FY December 2019FY December 2019
(Forecast)Year-end
Yen
35.00

AnnualYen
70.00

35.00

70.00

3. 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 fiscalyear 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 September 30, 2019 (changes in
specific companies 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 September 30, 2019 32,646,143

As of December 31, 2018

32,646,143

2) Treasury stock
277,173
277,069
As of December 31, 2018
As of September 30, 20193) Average shares outstanding during the period
Nine months ended September 30, 2019 32,369,029
Nine months ended September 30, 2018 －* With regard to the fiscal year ended December 31, 2018, which fell under the transitional period, consolidated
financial statements for the nine months ended September 30, 2018 were not prepared. For this reason, the report
does not indicate average shares outstanding for the nine months ended September 30, 2018.
* 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)

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
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assetsBond issuance cost
Total deferred assets
Total assets

3

December 31, 2018

September 30, 2019

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

14,93345,902765
16,51914,758
14,847
3,042(137)
110,632

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

33,06350,85718,302
10,447
5,338
118,009

3,504
3,504

3,580
3,580

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

17,871
6,116(65)
23,922
145,51254
54
268,98237
37
256,182

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 liabilities
Net 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

September 30, 201945,196
24,774
7,481
772
762
45
21,884
100,91733,275
24,620
6,484
496
2,157
－
17,48484,5188,400
21,256
8,369
4,517
42,542
143,460

8,400
23,528
7,939
5,099
44,966
129,484

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

18,472
21,85478,208(346)
118,189

5,127
808(1,530)(2,478)1,927
8,816
125,521268,9825,242
811(4,460)(2,149)(555)
9,063
126,697
256,182

Comparative Statements of Income (Consolidated)(Millions of yen)
Nine months ended
September 30, 2019
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rent income
Share of profit of entities accounted for using
equity method
Usage income of trademark
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Sales discountsForeign 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
Total 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 interests
Profit attributable to owners of parent

167,081
144,11122,96916,141
6,827
70
227
236
113
188
443
1,279
795
11192
32
110
1,141
6,965
55
28
83
87
87
6,961
1,717
5,244260
4,9835Comparative Statements of Comprehensive Income (Consolidated)(Millions of yen)
Nine months ended
September 30, 2019
ProfitOther 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

65,244174
2(2,746)332(183)(2,420)2,824
2,500323

Comparative Statements of Cash Flows (Consolidated)(Millions of yen)
Nine months ended
September 30, 2019
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
methodLoss (gain) on sales of investment securities
Loss (gain) on disposal of non-current assets
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
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
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 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

6,961
11,246
(118)
1,394
(121)
(297)
795
(113)
(28)
32
10,96274
520(11,626)(2,109)(422)
17,149321(818)(1,183)
15,469(19,700)
186(690)
690
(26)
46
(1,194)(1,214)
1,214(489)(21,178)515
8,777(6,856)(0)(2,259)(140)
36(190)(5,863)
19,632
13,768

7Segment Information
Industry Segment Information(Nine months ended September 30, 2019)(Millions of yen)
Die
Castings

Builders’
HardwarePrinting
Equipment

Other

Eliminations /Corporate

Consolidated

140,698

7,870

18,354

157-

167,081

96-

-

47

(143)

-

140,794

7,870

18,354205(143)

167,081

6,023

474

328

0

0

6,827

Net Sales:
Unaffiliated customers
Intersegment
Total
Operating income* With regard to the fiscal year ended December 31, 2018, which fell under the transitional period, consolidated financial
statements for the nine months ended September 30, 2018 were not prepared. For this reason, the report does not indicate
segment information for the nine months ended September 30, 2018.
* All amounts have been rounded down to the nearest million yen.

8