<Translation>
August 5, 2020

Consolidated Financial Results for the First Quarter
Ended June 30, 2020 <under Japanese GAAP>
Company Name: YUSHIN PRECISION EQUIPMENT CO., LTD.
Listing:First Section of the Tokyo Stock Exchange
Securities code: 6482
URL:
https://www.ype.co.jp/en/
Representative: Mayumi Kotani, President and Representative Director
Inquiries:
Masahito Fukui, Director and General Manager of Corporate Management Department
Tel: +81-75-933-9555 (from overseas)
Scheduled date to submit quarterly report:
August 7, 2020
Scheduled date to commence dividend payments:
Preparation of supplementary materials on financial results:
None
Holding of financial results briefing:
None(Amounts less than one million yen are omitted, unless otherwise noted)

1. Consolidated Business Results for the First Quarter Ended June 30, 2020
(from April 1, 2020 to June 30, 2020)(1) Consolidated operating results (Cumulative)
Net sales
Three months ended(Percentages indicate year-on-year changes)
Profit attributable toOrdinary profit
owners of parent

Operating profit

Millions of yen% Millions of yen% Millions of yen% Millions of yen%

June 30, 2020

3,743

(31.0)

300(55.0)

312(49.4)

235(45.7)

June 30, 2019

5,428

9.0

667

50.6

618

43.2

432

46.4

Note: Comprehensive income
Three months ended June 30, 2020: 258 million yen [ (9.3) %]Three months ended June 30, 2019: 285 million yen [ (6.2) %]Basic earnings
per share

Diluted earnings
per share

Three months ended

Yen

Yen

June 30, 2020

6.91

-

June 30, 2019

12.69

-

(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen%

As of June 30, 2020

32,092

27,35384.5

As of March 31, 2020

31,93327,471

85.3

Reference: Equity capital (Net assets less non-controlling interests)
As of June 30, 2020: 27,134 million yen
As of March 31, 2020: 27,229 million yen

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

2. Cash Dividends
Annual dividends per share
1Q

2Q

FY2020
FY2021

3Q

Total

4Q

Yen

Yen

Yen

Yen

Yen

-

8.00

-

10.00

18.00

-

-

-

-

-

FY2021 (Forecast)

Note : Revisions to projected dividends most recently announced: None
Dividends for the FY2021(Forecast) have yet to be determined.

3. Consolidated Earnings Forecasts for the FY2021 (from April 1, 2020 to March 31, 2021)
Net sales(Percentages indicate year-on-year changes)
Basic
Profit attributable toOrdinary profit
earnings
owners of parent
per share

Operating profit

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

7,500

(27.6)

550(56.2)

560(52.2)

410(51.1)

12.05

17,000(15.1)
1,600(30.7)
1,610
FY2021
Note: Revisions to projected results most recently announced: Yes(27.0)

1,150(25.0)

33.79

First six months ending
September 30, 2020

* Notes(1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries accompanying changes inscope of consolidation): None
(2) Adoption of the special accounting methods: Yes
Note: Please refer to “2. Quarterly Consolidated Financial Statements and Notes, (3) Notes related to quarterly
consolidated financial statements <Adoption of special accounting methods for preparation of quarterly financial
statements>” on page 8 of [Attached Material] for further information.
(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations:
2) Changes in accounting policies due to other reasons:3) Changes in accounting estimates:
4) Restatement:(4) Number of issued shares (Common stock)1) Number of issued sharesat the end of the period(including shares of treasury shares)
2) Number of shares of treasury sharesat the end of the period
3)

Average number of outstanding shares
during the period

None
None
None
None

As of June 30,
2020

35,638,066
shares

As of March 31,
2020

35,638,066
shares

As of June 30,
2020
Three months
ended June 30,
2020

1,602,454
shares

As of March 31,
2020
Three months
ended June 30,
20191,602,454
shares34,035,612
shares34,107,843
shares* This “Consolidated Financial Results for the First Quarter” report is not subject to quarterly review procedures by certified
public accountant or by auditing firm.
* Cautionary statement with respect to forward-looking statements and other special remarks
The forecasts above are based on the information currently available. A number of factors could cause actual results to differ
materially from expectations.
For more information about these assumptions and notes regarding the use of earnings forecasts, please refer to “1.
Qualitative Information on Quarterly Consolidated Financial Performance, (3) Explanation on the forecast information
including consolidated earnings forecast and others” on page 3 of [Attached Material].
* Disclaimer:This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English
version and the original Japanese version, the Japanese version shall prevail. YUSHIN PRECISION EQUIPMENT CO., LTD. shall accept no
responsibility or liability for damages or loss caused by any error, inaccuracy, misunderstanding or misspelling with regard to this translation.
This translation may be used only for reference purposes. YUSHIN PRECISION EQUIPMENT CO., LTD. maintains the right to claim
compensation from violators for any damage or loss it may suffer from the violation of these conditions.

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)[Attached Material]

INDEX
1. Qualitative Information on Quarterly Consolidated Financial Performance ··········································· 2(1) Explanation on the business results ······················································································ 2(2) Explanation on the financial condition ··················································································· 2(3) Explanation on the forecast information including consolidated earnings forecast and others ··················· 3
2. Quarterly Consolidated Financial Statements and Notes ································································· 4(1) Quarterly consolidated balance sheets ··················································································· 4(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income ········· 6
Quarterly consolidated statements of income ··········································································· 6
Quarterly consolidated statements of comprehensive income ························································ 7(3) Notes related to quarterly consolidated financial statements ·························································· 8< Notes related to going concern assumption > ·········································································· 8< Notes in the event of significant changes in shareholders’ equity > ················································ 8< Adoption of special accounting methods for preparation of quarterly financial statements > ··················· 8< Segment information > ··································································································· 8
3. Supplemental Information ···································································································· 9(1) Orders, backlog and sales ·································································································· 9(2) Overseas sales ··············································································································· 91YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation on the business results
During the first quarter of the fiscal year under review, the global economy faced a difficult situation as capital
investment continued to decline due to the impact of trade friction between the United States and China, andcorporate activities were severely restricted by city blockades in many countries due to the spread of COVID-19
infection. Although there were signs of recovery in some countries, such as China, as economic activity resumed,a significant slowdown in consumption had a severe impact on the global economy. As a result, the environment
surrounding us has become even more challenging and the future of us remains uncertain.
Under these circumstances, we have continued to develop new customers on a global scale, while giving toppriority to the safety of customers, business partners and employees and paying sufficient attention to the spreadof COVID-19 infection. During the first quarter of the current fiscal year, sales of Take-out robots in Japan andAsia decreased compared to the same quarter of the previous year due to a decline in capital investment, althoughsales in North America were strong, mainly in the medical field. In addition, although sales of Custom-ordered
equipment in Europe recorded certain amount, they decreased compared to the same quarter last year due todifferences in the timing of deliveries. As a result, consolidated Net sales decreased by 31.0% year on year to
3,743 million yen. In terms of profit, although we have continued to reduce cost, Operating profit decreased by
55.0% to 300 million yen due to the decline in consolidated Net sales and Ordinary profit decreased by 49.4% to312 million yen despite there was foreign exchange gain. As a result, Profit attributable to owners of parent
decreased by 45.7% year on year to 235 million yen.

(2) Explanation on the financial condition<Assets>
Total assets increased by 159 million yen from the end of the previous fiscal year to 32,092 million yen. Thiswas mainly due to increase of “Cash and deposits” by 882 million yen despite decrease of “Notes and accounts
receivable - trade” by 716 million yen.
<Liabilities>
Total liabilities increased by 277 million yen from the end of the previous fiscal year to 4,739 million yen. Thiswas mainly due to increase of “Advances received” by 196 million yen.
<Net assets>
Net assets decreased by 118 million yen from the end of the previous fiscal year to 27,353 million yen.

2

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(3) Explanation on the forecast information including consolidated earnings forecast and others
Despite the impact of COVID-19 infection, Operating profit margin have improved compared to the Business
forecast for the fiscal year ending March 31, 2021 announced in the Consolidated Financial Results released on
May 14, 2020. This is because the gross profit margin is improving due to the product mix and the fact that wehave further promoted cost control and reduction and the reduction of Selling, general and administrative expenses
has progressed more than originally planned. As a result, we have revised Business forecast for the first half andfull year of the fiscal year ending March 31, 2021, which were announced in the Consolidated Financial Resultson May 14, 2020, as follows. If revisions are required due to the spread of COVID-19 infection or other reasons,announcement will be made as soon as possible.
(a) Revised Consolidated Earnings Forecasts for the FY2021 1H (from April 1, 2020 to September 30, 2020)
ProfitBasic
Operating
Ordinary
attributable to
Net salesearnings per
profitprofitowners ofshareparentMillions of yen
Millions of yen
Millions of yen
Millions of yen
Yen
Previous Forecast (A)(May 14, 2020)
7,500
105
105
50
1.47
Revised Forecast (B)
7,500
550
560
410
12.05
Change (B-A)
445
455
360
Percentage Change (%)
423.8
433.3
720.0
FY2020 1H (Reference)
10,364
1,255
1,172
838
24.61

(b) Revised Consolidated Earnings Forecasts for the FY2021 (from April 1, 2020 to March 31, 2021)
ProfitBasic
Operating
Ordinary
attributable to
Net salesearnings per
profitprofitowners ofshareparentMillions of yen
Millions of yen
Millions of yen
Millions of yen
Yen
Previous Forecast (A)(May 14, 2020)
17,000
1,150
1,150
780
22.90
Revised Forecast (B)17,000
1,600
1,610
1,150
33.79
Change (B-A)
450
460
370
Percentage Change (%)
39.1
40.0
47.4
FY2020 (Reference)
20,011
2,309
2,205
1,532
45.01

3

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly consolidated balance sheets
As of March 31, 2020
<ASSETS>
Current assets
Cash and deposits
Notes and accounts receivable - trade
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
Land
Other, net
Total property, plant and equipment
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
Total assets

4(Thousands of yen)
As of June 30, 2020

8,646,219
5,410,654
772,690
1,120,628
3,165,533
295,409(19,247)
19,391,889

9,529,202
4,694,528
1,117,799
904,336
3,160,685
265,992(16,879)
19,655,664

4,554,294
6,107,772
243,910
10,905,978358,333

4,452,608
6,109,295
225,892
10,787,796
338,341

159,973285,556
658,373
193,669(20,403)
1,277,168
12,541,479
31,933,368

175,180
283,502679,743
192,600(20,297)
1,310,730
12,436,868
32,092,533

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(Thousands of yen)
<LIABILITIES>Current liabilities
Notes and accounts payable - trade
Accounts payable - other
Income taxes payable
Advances received
Provision for bonuses
Provision for bonuses for directors
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits for directors
Retirement benefit liability
Deferred tax liabilities
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
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

5

As of March 31, 2020

As of June 30, 2020

1,698,391
418,287
137,9141,270,310
267,606
23,410178,399
256,484
4,250,803

1,663,772
378,412
123,343
1,466,618
139,171
8,475
183,020564,181
4,526,995

66,78062,91934,43846,466
210,6034,461,407

66,78067,00733,18145,313
212,282
4,739,278

1,985,666
2,023,903
24,531,217(1,355,167)
27,185,619

1,985,666
2,023,903
24,425,998(1,355,167)
27,080,401

16,443(34,487)
62,16944,125242,216
27,471,961
31,933,368

27,012(32,674)
59,38053,718219,136
27,353,255
32,092,533

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(2) Quarterly consolidated statements of income and consolidated statements of comprehensive
incomeQuarterly consolidated statements of income
Three months ended
June 30, 2019
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Purchase discounts
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Sales discounts
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Total extraordinary income
Extraordinary losses
Loss on sales and retirement 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

6(Thousands of yen)Three months ended
June 30, 2020

5,428,963
3,290,723
2,138,239
1,470,346
667,893

3,743,759
2,206,261
1,537,498
1,236,849
300,648

1,646
3,819
2,778
4,395
12,639

1,835
2,889
1,856
2,396
3,334
12,312

61
61,743
107
61,912
618,621152
60
213
312,748

3,189
3,189

42
42

342
342
621,468
169,96600
312,790
72,011

451,502240,778

18,579432,922

5,641
235,137

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

Quarterly consolidated statements of comprehensive income

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income(Comprehensive income attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable tonon-controlling interests

7

Three months ended
June 30, 2019451,502(Thousands of yen)Three months ended
June 30, 2020
240,778(12,605)(151,738)(1,688)(166,032)
285,469

10,568
10,294(2,788)18,074
258,853

267,082244,730

18,387

14,122

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)(3) Notes related to quarterly consolidated financial statements< Notes related to going concern assumption >None< Notes in the event of significant changes in shareholders’ equity >None< Adoption of special accounting methods for preparation of quarterly financial statements >Calculation method for tax expenses
The effective tax rate on profit before income taxes for the consolidated fiscal year after the application oftax effect accounting is reasonably estimated, and this estimated rate is applied to profit before income taxes
for the quarterly period under review.

< Segment information >FY2020 1Q (from April 1, 2019 to June 30, 2019)
Information related to sales and profit or loss for each reportable segment(Thousands of yen)
Reportable segment
Adjustment*1

Amounts shownon quarterly
consolidated
statements ofincome *2

5,428,963-

5,428,963-

863,803(863,803)-

1,017,994

975,977

6,292,766(863,803)

5,428,963

96,990124,891

447,491

220,401

667,893

Total

Japan

U.S.A.

Asia

EuropeSales to customers

2,658,902

851,785

942,297

975,977

Inter-segment sales
or transfers

783,108

4,997

75,697

Total

3,442,011

856,783

113,909111,699

Net sales

Segment profit*Notes 1: The 220,401 thousand yen adjustment to segment profit includes eliminations for inter-segment transactions of 9,877
thousand yen and inventory adjustments of 210,523 thousand yen.
*Notes 2: Segment profit is adjusted to be consistent with operating profit shown on the quarterly consolidated statements ofincome.

FY2021 1Q (from April 1, 2020 to June 30, 2020)
Information related to sales and profit or loss for each reportable segment(Thousands of yen)
Reportable segment
Total

Adjustment*1

Amounts shownon quarterly
consolidated
statements ofincome *2

Japan

U.S.A.

Asia

Europe1,619,700

954,578

812,696356,784

3,743,759-

3,743,759

Inter-segment sales
1,218,588
or transfers

2,149

40,486

2,634

1,263,858(1,263,858)-

2,838,288

956,727

853,182359,419

5,007,617(1,263,858)

3,743,759

121,726

169,843

31,21281,364404,147(103,498)

300,648

Net sales
Sales to customers

Total
Segment profit*Notes 1: The (103,498) thousand yen adjustment to segment profit includes eliminations for inter-segment transactions of 2,210
thousand yen and inventory adjustments of (105,708) thousand yen.
*Notes 2: Segment profit is adjusted to be consistent with operating profit shown on the quarterly consolidated statements ofincome.

8

YUSHIN PRECISION EQUIPMENT CO., LTD. (6482)

3. Supplemental Information(1) Orders, backlog and sales
a. Orders
1) Order received
Products(Thousands of yen)
FY2020 1Q

Change(%)

FY2021 1Q

Take-out robots

3,362,498

2,768,073

82.3

Custom-ordered equipment

1,168,283

743,900

63.7

Parts and maintenance service

771,825

635,491

82.3

Total

5,302,607

4,147,464

78.22) Backlog of orders
Products(Thousands of yen)
As of June 30, 2019

Change(%)

As of June 30, 2020

Take-out robots

3,082,159

2,388,039

77.5

Custom-ordered equipment

2,915,546

2,171,766

74.5

Parts and maintenance service

226,520

234,121

103.4

Total

6,224,226

4,793,927

77.0

b. Net sales(Thousands of yen)

Products

FY2020 1Q

Change(%)

FY2021 1Q

Take-out robots

3,284,871

2,500,182

76.1

Custom-ordered equipment

1,373,240

633,59346.1

Parts and maintenance service

770,851

609,983

79.1

Total

5,428,963

3,743,759

69.0(2) Overseas sales
FY2020 1Q (from April 1, 2019 to June 30, 2019)

I Overseas sales(Thousands of yen)North
AmericaAsia

1,368,002

1,559,872

EuropeOther areas

383,240

153,831

II Consolidated net sales
III Ratio of overseas sales toconsolidated net sales (%)

25.2

North
America

28.7

7.1

945,6862.8

63.8(Thousands of yen)
Asia

Europe1,050,954

408,457

Other areas
57,671II Consolidated net sales
III Ratio of overseas sales toconsolidated net sales (%)

3,464,947
5,428,963

FY2021 1Q (from April 1, 2020 to June 30, 2020)

I Overseas sales

Total

Total
2,462,770
3,743,759

25.3

28.1

9

10.9

1.5

65.8