Summary of Consolidated Financial Statements for the Six Months Ended June 30, 2022
(Japanese GAAP)

August 12, 2022
Company name HORIBA, Ltd.
Listed stock exchanges: Tokyo
Listing code
6856
URL: https://www.horiba.com/int/
Representative Atsushi Horiba, Chairman & Group CEO
TEL: (81)75-313-8121
Contact
Yoshihiro Morita, Department Manager, Finance and Accounting Dept.
Scheduled date of start of interim dividend payment: September 5, 2022
(Figures have been rounded down to the nearest million yen)

1. Consolidated Results for the Six Months Ended June 30, 2022 (January 1, 2022 - June 30, 2022)(Percentages represent changes from the corresponding in the previous year)(1) Consolidated Operating Results
Net Sales
Millions of yen

Six Months Ended 6/30/22
Six Months Ended 6/30/21

114,965
101,317(Note) Comprehensive income: FY2022Q2

Six Months Ended 6/30/22
Six Months Ended 6/30/21

Operating Income% Millions of yen
13.5
16,26019.2
13,069Ordinary Income% Millions of yen
24.4
16,784
95.7
13,047

24,205 million yen (58.3%)

Net Income Attributableto Owners of Parent% Millions of yen
28.6
11,24092.5
8,744

FY2021Q2

%
28.5
79.9

15,294 million yen (-%)

Net Income Attributable
Net Income Attributableto Owners of Parent per Shareto Owners of Parent per Share(Diluted)
Yen
Yen
266.31
264.93207.24206.20(2) Consolidated Financial Position
Total Assets

Shareholders'Equity Ratio

Net Assets

Millions of yen
Millions of yen%
As of 6/30/22
398,397
224,647
56.2
As of 12/31/21
371,585
204,493
54.8(Reference) Net assets excluding subscription rights to shares and non-controlling interests:
As of 6/30/22
223,868 million yen
As of 12/31/21 203,688 million yen

2. Dividends
Dividend per Share
First
Quarter

SecondQuarterYen
FY 12/2021

-

Yen
50.00

FY 12/2022

-

65.00

Third
QuarterYear EndYen-

FY 12/2022 (Forecasts)(Note) Changes in the latest dividend forecasts released: Yes

Total

Yen
100.00Yen
150.00135.00200.003. Consolidated Forecasts for the Year Ending December 31, 2022 (January 1, 2022 - December 31, 2022)(Percentages represent changes from the previous fiscal year)

Net Sales

Operating Income

Ordinary Income% Millions of yen% Millions of yen
Full Year
260,000 15.9
40,000 24.8
40,000(Note) Changes in the latest business forecasts released: Yes
Millions of yen

1

%
24.9

Net Income Attributableto Owners of Parent

Net Income Attributableto Owners of Parent
per Share

%
31.4

Yen
663.04

Millions of yen

28,000HORIBA, Ltd. (Consolidated)

Notes(1) Changes in significant subsidiaries during the period(Changes in specified subsidiaries that caused a change in the scope of consolidation): None
(2)Application of the accounting method specific to quarterly consolidated financial statements: Yes(3) Changes in accounting policies, accounting estimates and retrospective restatement① Changes in accounting policies associated with revision of accounting standards: Yes② Changes in accounting policies arising from other than the above: None
③ Changes in accounting estimates: None
④ Retrospective restatement: None
(4) Number of shares outstanding (common stock)① Shares issued (including treasury stock) June 30, 2022

42,532,752

December 31, 2021

42,532,752② Treasury stock

June 30, 2022

303,053

December 31, 2021

335,502③ Average number of outstanding sharesJan. - Jun., 2022

42,206,936

Jan. - Jun., 2021

42,197,315

Note 1. This consolidated financial report is not subject to quarterly review by certified public accountants or accounting
firms.
Note 2. Appropriate use of business forecasts and other important information
The forecasts of dividend amount and business performance contained in this report have been made based on
certain future assumptions, outlooks, and plans which are available at the HORIBA Group as of August 12, 2022.
However, due to risks and various uncertain factors such as future business operation policies, changes in theeconomic environment in Japan and overseas, fluctuation of currency rates, it is possible that actual performance
would vary considerably from the forecasts.

2

HORIBA, Ltd. (Consolidated)1. Qualitative Information Concerning Consolidated Results(1) Information Concerning Consolidated Operating Results(For details, see page 13-15, “3. Supplemental Information - HORIBA, Ltd. Financial Highlights for the Six Months
Ended June 30, 2022”)

During the six months ended June 30, 2022 (the first half year), HORIBA, Ltd. (“the Company”) and its consolidated
subsidiaries (together “the HORIBA Group” or “HORIBA” as a consolidated group) increased sales by 13.5% year-onyear to 114,965 million yen, mainly due to an increase in sales of the Semiconductor segment. Operating income
increased by 24.4% to 16,260 million yen, ordinary income by 28.6% to 16,784 million yen and net income attributableto owners of parent (“net income”) by 28.5% to 11,240 million yen.
The operating results of each business segment are summarized as follows.

(Automotive Segment)
Mainly due to an increase in sales of the ECT (Engineering Consultancy & Testing) business in Europe, segment
sales increased by 3.1% year-on-year to 25,688 million yen. On the profit side, operating loss of 1,762 million yen wasrecorded owing mainly to delay in delivery because of procurement difficulties and rising purchasing prices (compared
to an operating loss of 1,187 million yen in the first six months of the previous year).

(Process & Environmental Segment)
Mainly due to an increase in sales of stack gas analyzers and water quality analysis and examination systems inJapan, segment sales increased by 1.5% year-on-year to 10,191 million yen. On the profit side, operating income
however decreased by 42.7% to 638 million yen owing mainly to the impact of the lockdown in China and risingpurchasing prices.

(Medical-Diagnostics Segment)
Mainly due to an increase in sales of hematology analyzers, clinical chemistry analyzers and reagents in Asia,
segment sales increased by 6.0% year-on-year to 13,673 million yen. On the profit side, operating loss of 162 million
yen was recorded owing mainly to rising purchasing prices (compared to an operating income of 326 million yen in thefirst six months of the previous year).

(Semiconductor Segment)
Sales to semiconductor production equipment manufacturers increased significantly, in response to expansion ofsemiconductor manufacturers’ capital expenditures. As a result, segment sales increased by 23.4% year-on-year to49,421 million yen and operating income increased by 35.9% to 16,780 million yen.

(Scientific Segment)
Sales of Raman spectrometers and optical components increased. As a result, segment sales increased by 19.2%
year-on-year to 15,989 million yen and operating income increased by 64.9% to 765 million yen.

3

HORIBA, Ltd. (Consolidated)(2) Information Concerning Consolidated Earnings Forecasts for FY2022
HORIBA’s full year consolidated earnings forecasts are summarized as follows.
Our assumption for the exchange rate has been changed from 124 yen to 130 yen against the US dollars and 133 yen
to 135 yen against the euro.
Consolidated forecasts of FY2022 (Full year)
Amount : Millions of yen
Previous Forecasts(As of May 13)

Revised Forecasts(As of Aug. 12)

Changes

Net Sales

260,000

260,000-

Operating Income

38,00040,000+2,000Ordinary Income

37,50040,000+2,500Net Income Attributableto Owners of Parent

25,50028,000+2,500Consolidated forecasts of FY2022 by segment (Full year)
Net Sales

Amount : Millions of yen Operating Income
Previous
Revised
Forecasts Forecasts(As of May (As of Aug. Changes
13)
12)

Amount : Millions of yen
Previous
Revised
Forecasts Forecasts(As of May (As of Aug. Changes
13)
12)

Automotive

70,00066,000-4,000Automotive

1,500

-

-1,500

Process &Environmental

23,50023,500-

Process &Environmental

2,000

2,000

-

Medical-Diagnostics

28,50028,500-

Medical-Diagnostics

500

500

-

Semiconductor

103,000

107,000+4,000

Semiconductor

31,50035,000+3,500Scientific35,00035,000-Scientific

2,500

2,500

-

Total

260,000

260,000-

Total

38,00040,000+2,000With regard to consolidated earnings forecasts for the current fiscal year, overall sales forecast remained unchanged at
260,000 million yen and operating income forecast has been revised upward by 2,000 million yen to 40,000 million yen,which has led to upward revision of 2,500 million yen for forecasts for both ordinary income and net income.
By business segment, the Company has revised downward its forecasts for sales and operating income of theAutomotive segment by 4,000 million yen and 1,500 million yen respectively, owing to delay in delivery because of
procurement difficulties and rising purchasing prices, even though the order trend is favorable. Meanwhile, forecasts
for sales and operating income of the Semiconductor segment have been revised upward by 4,000 million yen and
3,500 million yen respectively by taking into account the recent order trend.

4

HORIBA, Ltd. (Consolidated)Amendments to dividend forecasts for FY2022
Dividend per Share(Yen)Record Date
Previous Forecasts

InterimYear-end

Total

60

120

180

Revised Forecasts

65

135

200

Results for FY2021

50

100

150

(As of May 13)

The Company’s shareholder return policy is to set the total returns to shareholders (the combined amount of dividend
payments and share buybacks) at approximately 30% of consolidated net income.
Dividend forecasts for FY2022 had been 180 yen per share for the full year (60 yen for the interim and 120 yen for the
year-end) since “Summary of Consolidated Financial Statements for the Three Months Ended March 31, 2022” on May
13, 2022. However, considering the revised consolidated earnings forecasts for FY2022, the Company has amended
the forecasts to increase the full year dividend by 20 yen (5 yen for the interim) to 200 yen (65 yen for the interim and
135 yen for the year-end).

Cautionary statement with respect to earnings forecasts
The forecasts of dividend amount and business performance contained in this report have been made based on certain
future assumptions, outlooks, and plans which are available at the HORIBA Group as of August 12, 2022. However,
due to risks and various uncertain factors such as future business operation policies, changes in the economic
environment in Japan and overseas, fluctuation of currency rates, it is possible that actual performance would varyconsiderably from the forecasts.

5

HORIBA, Ltd. (Consolidated)2. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets
Amount : Millions of yen
FY2021(As of December 31, 2021)

FY2022 First Half
(As of June 30, 2022)

AssetsCurrent Assets:
Cash and bank deposits

135,023

139,978

Trade notes and accounts receivable

59,877--56,494Marketable securities

2,012

1,559

Merchandise and finished goods

17,86422,608Work in process

16,51323,966

Raw materials and supplies

18,73624,151Other current assets

9,249

12,103

Allowance for doubtful accounts(1,232)(1,309)Total Current Assets

258,044279,552

Buildings and structures, net

45,64854,160Machinery, equipment and vehicles, net

12,986

14,397Land

15,994

16,791

Construction in progress

9,231

4,280

Other property, plant and equipment, net

4,441

4,413

Total Property, Plant and Equipment

88,302

94,043

Goodwill

966

838

Software

1,968

1,824

Leasehold interests in land

607

672

Other intangibles

881

924

Total Intangibles

4,423

4,259

12,487

10,963

387

473

Deferred tax assets

5,002

6,146

Other investments and other assets

2,979

2,999

(43)

(42)

20,814

20,541

113,540

118,844371,585

398,397

Notes and accounts receivable - trade,and contract assets

Fixed Assets:
Property, Plant and Equipment:

Intangibles:

Investments and Other Non-Current Assets:
Investment securities
Retirement benefit asset

Allowance for doubtful accounts
Total Investments and Other Non-Current Assets
Total Fixed Assets
Total Assets

6

HORIBA, Ltd. (Consolidated)Amount : Millions of yen
FY2021(As of December 31, 2021)

FY2022 First Half
(As of June 30, 2022)

Liabilities
Current Liabilities:
Trade notes and accounts payable

29,54632,539

Short-term loans payable

25,10724,361

Accounts payable - other

16,407

17,133

Accrued income taxes

7,632

6,303

Advances received

14,308-Contract liabilities-

18,413

1,137

951

-

383

Reserve for product warranty

2,630

2,753

Other current liabilities

5,368

5,544

Total Current Liabilities

102,139

108,384

Corporate bonds

30,00030,000Long-term loans payable

25,07725,285

Deferred tax liabilities

1,731

1,407

Retirement benefit liability

2,107

2,404

Other non-current liabilities

6,036

6,268

Total Non-Current Liabilities

64,95365,365167,092

173,750

Common stock

12,011

12,011

Capital surplus

18,624

18,684Retained earnings

166,892

173,913

Treasury stock(1,323)(1,195)

Total Shareholders' Equity

196,204

203,413

Net unrealized holding gains or losses on securities

5,664

4,615

Foreign currency translation adjustments

1,889

15,909Remeasurements of defined benefit plans

(69)

(69)

7,484

20,455

791

771

12

6

Total Net Assets

204,493

224,647

Total Liabilities and Net Assets

371,585

398,397

Accrued bonuses to employees
Accrued bonuses to directors and corporate auditors

Non-Current Liabilities:

Total Liabilities
Net Assets
Shareholders' Equity

Accumulated Other Comprehensive Income

Total Accumulated Other Comprehensive Income
Subscription Rights to Shares
Non-Controlling Interests

7

HORIBA, Ltd. (Consolidated)(2) Consolidated Statements of Income and Consolidated Comprehensive Income Statements(Consolidated Statements of Income)Amount : Millions of yen
FY2021 First Half
(Six Months Ended

FY2022 First Half
(Six Months Ended

June 30, 2021)

June 30, 2022)

Net Sales

101,317

114,965

Cost of Sales

58,516

66,051Gross Income

42,80048,913

Selling, General and Administrative Expenses

29,731

32,653Operating Income

13,06916,260Interest income

101

156

Dividend income

109

138

-

252

Subsidy income

52

100

Other

108

234

Total Non-Operating Income

372

882

Interest expenses

232

287

Foreign exchange losses

103

-

Other

58

69

Total Non-Operating Expenses

394

357

13,047

16,784Gain on sales of fixed assets

79Gain on sales of investment securities

6

20

Gain on reversal of share acquisition rights

-

1

14

31

Loss on sales of fixed assets

20Loss on disposal of fixed assets

46

19

-

0

Total Extraordinary Losses

48

19

Income before Income Taxes

13,012

16,796

Income taxes (current)

4,322

6,264

Income taxes (deferred)

(49)

(699)

Total Income Taxes

4,272

5,565

8,740

11,231

Loss attributable to non-controlling interests

(4)

(8)

Net Income Attributable to Owners of Parent

8,744

11,240Non-Operating Income

Foreign exchange gains

Non-Operating Expenses

Ordinary Income
Extraordinary Gain

Total Extraordinary Gain
Extraordinary Losses

Loss on sale of investment securities

Net Income

8

HORIBA, Ltd. (Consolidated)

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

Net Income

FY2021 First Half
(Six Months Ended

FY2022 First Half
(Six Months Ended

June 30, 2021)

June 30, 2022)

8,740

11,231

1,019(1,049)(6)-Foreign currency translation adjustments

5,520

14,023Remeasurements of defined benefit plans

19

0

6,553

12,974

15,29424,205

15,29624,211(2)(6)

Other Comprehensive Income
Net unrealized holding gains or losses on securities
Deferred gains or losses on hedges

Total Other Comprehensive Income
Comprehensive Income(Breakdown of comprehensive income)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

9

HORIBA, Ltd. (Consolidated)

(3) Consolidated Statements of Cash Flows
Amount : Millions of yen
FY2021 First Half
(Six Months Ended
June 30, 2021)

FY2022 First Half
(Six Months Ended
June 30, 2022)

Cash Flows from Operating Activities:
Income before income taxes

13,012

16,796

Depreciation expense

4,826

5,283

Amortization of goodwill

216

216

Increase (decrease) in allowance for doubtful accounts

96

(33)

Increase (decrease) in retirement benefit liability

137

94

Interest and dividend income

(210)

(295)

Interest expense

232

287

Foreign exchange losses (gains)

(171)

566

Loss (gain) on sales of fixed assets

(5)

(9)

Loss on disposal of fixed assets

46

19

Loss (gain) on sales of investment securities

(6)

(19)

1,347

-

-

8,212

Decrease (increase) in inventories(1,899)(12,902)

Increase (decrease) in trade notes and accounts payable

4,236

666

Other, net

(849)

581

Subtotal

21,00819,464

Interest and dividends received

195

267

Interest paid

(197)

(289)

(5,184)(9,168)15,821

10,273

Increase in time deposits

(581)

(966)

Decrease in time deposits

649

1,401

Payments for purchase of marketable securities(1,300)(1,000)

Proceeds from sales or redemption of marketable securities

1,400

1,500

Payments for purchase of property, plant and equipment(6,208)(3,938)

68

81

(119)

(178)

Payments for purchase of investment securities

(8)

(9)

Proceeds from sales or redemption of investment securities

9

47

Payments of loans receivable

(7)

(7)

Collection of loans receivable

15

13

Purchase of shares of subsidiaries and associates

(751)

-

Other, net

(109)

(24)

(6,942)(3,080)Decrease (increase) in trade notes and accounts receivable
Decrease (increase) in notes and accounts receivable – trade, andcontract assets

Income taxes (paid) refund
Net Cash Provided by (Used in) Operating Activities
Cash Flows from Investing Activities:

Proceeds from sales of property, plant and equipment
Payments for purchase of intangibles

Net Cash Provided by (Used in) Investing Activities

10

HORIBA, Ltd. (Consolidated)Amount : Millions of yen
FY2021 First Half

FY2022 First Half

(Six Months Ended
June 30, 2021)(Six Months Ended
June 30, 2022)

Cash Flows from Financing Activities:
Net increase (decrease) in short-term borrowings(1,219)(1,422)

Increase in long-term debt

1,439

26

Repayments of long-term debt

(185)

(630)

Repayments on finance lease obligations

(613)

(678)

Net decrease (increase) of treasury stock(0)0(2,529)(4,216)(3,108)(6,921)

Effect of Exchange Rate Changes on Cash and Cash Equivalents

2,032

5,045

Net Increase (Decrease) in Cash and Cash Equivalents

7,804

5,317

Cash and Cash Equivalents at Beginning of Period

114,156

133,938

Cash and Cash Equivalents at End of Period

121,960

139,255

Cash dividends paid
Net Cash Provided by (Used in) Financing Activities

11

HORIBA, Ltd. (Consolidated)

(4) Notes to Consolidated Financial Statements
Application of special accounting for preparing quarterly consolidated financial statement(Calculation method for tax expenses)
The Company and its domestic consolidated subsidiaries calculated income tax expenses by multiplying quarterly
income before income taxes by reasonably estimated annual effective tax rate. This tax rate was reasonably
estimated after applying the deferred tax accounting to the annual income before income taxes.
Change in accounting policies(Application of Accounting Standard for Revenue Recognition, etc.)
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March
31,2020; hereinafter “Accounting Standard for Revenue Recognition”), etc. from the beginning of the first quarter of
FY2022. Accordingly, revenue is recognized at the time of transfer of control over promised goods or services to thecustomer in the amount expected to be received in return for the goods or services.
The application of the Accounting Standard for Revenue Recognition, etc. is subject to the transitional treatment
provisions in Article 84, but there is no impact on the balance of retained earnings at the beginning of FY2022.
There is no impact on the operating results due to the application of Accounting Standard for Revenue Recognition,etc..
Due to the application of the Accounting Standard for Revenue Recognition, etc., “Trade notes and accounts
receivable” presented under “Current Assets” in the consolidated balance sheets for the previous fiscal year, is
included in “Notes and accounts receivable - trade, and contract assets” instead, and “Advances received” presented
under “Current Liabilities” in the consolidated balance sheets for the previous fiscal year, is included in “Contract
liabilities” instead, from the beginning of the first quarter of FY2022. Furthermore, “Decrease (increase) in trade notes
and accounts receivable” presented under “Cash Flows from Operating Activities” in the consolidated statements ofcash flows for first half of the previous fiscal year, is included in “Decrease (increase) in notes and accounts
receivable – trade , and contract assets” instead, from the beginning of first half of FY2022.
In accordance with the transition provisions in Article 89-2 of the Accounting Standard for Revenue Recognition, theCompany has not reclassified financial statements for the previous fiscal year by using the new presentation method.
(Application of “Accounting Standard for Fair Value Measurement,” etc.)
The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30, July 4,
2019; hereinafter “Accounting Standard for Fair Value Measurement”), etc. from the beginning of the first quarter of
FY2022.
The Company has prospectively applied new accounting policies based on the Accounting Standard for Fair Value
Measurement, etc. in accordance with the transition provisions in Article 19 of Accounting Standard for Fair Value
Measurement and Article 44-2 of “Accounting Standard for Financial Instruments” (ASBJ Statement No.10, July 4,2019). There is no impact of these changes on quarterly financial statements.
Additional information(Application of tax effect accounting for transition from consolidated taxation system to group tax sharing
system)With regard to the transition to group tax sharing system established in the “Act for Partial Amendment of the Income
Tax Act, etc.” (Act No. 8 of 2020) and items for which the non-consolidated taxation system has been reviewed in linewith the transition to the group tax sharing system, the Company and its domestic consolidated subsidiaries
calculated the amounts of deferred tax assets and deferred tax liabilities in accordance with the provisions of the tax
act before the amendment based on the treatment of Paragraph 3 of the “Practical Solution on the Treatment of Tax
Effect Accounting for the Transition from the Consolidated Taxation System to the Group Tax Sharing System” (ASBJ
Practical Issues Tax Force No. 39, March 31, 2020), instead of applying the provision of Paragraph 44 of the“Implementation Guidance on Tax Effect Accounting” (ASBJ Guidance No. 28, February 16, 2018).

12

HORIBA, Ltd. (Consolidated)

HORIBA, Ltd. Financial Highlights for the Six Months Ended June 30, 2022
(From January 1, 2022 to June 30, 2022)
1. Consolidated Financial Results

Amount : Millions of yen

12/2021
Results

12/2022
Results

1st Half

1st Half

AmountNet Sales

101,317

114,965

Operating Income

13,06916,260

12.9%

14.1%

+1.2P

13,047

16,784+3,737

Ordinary Income Ratio

12.9%

14.6%

+1.7P

Net Income Attributableto Owners of Parent

8,744

11,240+2,495

Operating Income Ratio

Ordinary Income

12/2021
Results

12/2022
Forecasts

Ratio

Full Year

Full Year+13,647+13.5%

224,314260,000+35,685+15.9%+3,190+24.4%

32,04640,000+7,953+24.8%

14.3%

15.4%

+1.1P

32,03840,000+7,961

14.3%

15.4%

+1.1P

21,311

28,000+6,688Changes+28.6%+28.5%

ChangesAmountNet Income Ratio

8.6%

9.8%

+1.2P

9.5%

10.8%

+1.3P

US$

107.82

123.14+15.32109.90130.00+20.10Euro129.89134.39+4.50

129.91135.00+5.09

2. Consolidated Segment Results
Net Sales

Ratio+24.9%+31.4%

Amount : Millions of yen

12/2021
Results

12/2022
Results

1st Half

1st Half

ChangesAmountRatio

12/2021
Results

12/2022
Forecasts

Full Year

Full Year

ChangesAmount

Ratio

Automotive

24,92425,688

+764

+3.1%

61,24966,000+4,750+7.8%

Process&Environmental

10,04010,191

+150

+1.5%

20,21723,500+3,282+16.2%

Medical-Diagnostics

12,896

13,673

+777

+6.0%

25,88228,500+2,617+10.1%

Semiconductor

40,04349,421+9,378+23.4%

87,004

107,000+19,995+23.0%

Scientific13,412

15,989+2,577+19.2%

29,95835,000+5,041+16.8%

Total

101,317

114,965+13,647+13.5%

224,314260,000+35,685+15.9%

12/2021
Results

12/2022
Results

1st Half

1st Half

Operating Income

ChangesAmountRatio

12/2021
Results

12/2022
Forecasts

Full Year

Full Year

ChangesAmount

Ratio

Automotive(1,187)(1,762)

-574

-

(13)

-

+13

-

Process&Environmental

1,114

638

-475

-42.7%

1,947

2,000

+52

+2.7%

Medical-Diagnostics

326

(162)

-488

-

148

500

+351

+236.6%

Semiconductor

12,351

16,780+4,428+35.9%

28,00635,000+6,993+25.0%

Scientific

464

765

+301

+64.9%

1,957

2,500

+542

+27.7%

Total

13,06916,260+3,190+24.4%

32,04640,000+7,953+24.8%

13

HORIBA, Ltd. (Consolidated)3. Consolidated Segment Sales by Destination
12/2021
Results

12/2022
Results

1st Half

1st Half

24,924Japan

Automotive

Amount : Millions of yen
ChangesAmountRatio

12/2021
Results

12/2022
Forecasts

Full Year

Full Year

25,688

+764

+3.1%

61,249

8,256

7,003

-1,253-15.2%

Asia

6,244

4,590

-1,653-26.5%

Americas

2,317

2,728

+410

ChangesAmountRatio

66,000+4,750+7.8%

17,365

15,200-2,165-12.5%

15,842

14,700-1,142-7.2%+17.7%

6,475

7,100

+624

+9.6%

+40.2%+34.5%+16.2%

Europe8,105

11,366+3,26021,56629,000+7,433

Process&Environmental

10,04010,191

+150

+1.5%

20,21723,500+3,282

Japan

4,971

5,163

+192

+3.9%

10,286

11,000

+713

+6.9%

Asia

2,668

2,518

-150

-5.6%

5,046

6,000

+953

+18.9%

Americas

1,161

1,314

+153

+13.2%

2,281

3,000

+718

+31.5%

Europe

1,239

1,194

-44

-3.6%

2,603

3,500

+896

+34.5%

12,896

13,673

+777

+6.0%

25,88228,500+2,617+10.1%

2,911

2,852

-59

-2.0%

5,243

6,000

+756

+14.4%

Asia

2,743

3,195

+451

+16.5%

5,714

6,500

+785

+13.8%

Americas

2,869

2,895

+26

+0.9%

5,816

6,500

+683

+11.7%

Medical-Diagnostics

Japan

EuropeSemiconductor

4,371

4,730

+358

+8.2%

9,108

9,500

+391

+4.3%

40,04349,421+9,378+23.4%

87,004

107,000+19,995+23.0%

Japan

11,996

15,212+3,216+26.8%

26,83332,000+5,166+19.3%

Asia

20,66425,920+5,256+25.4%

44,85756,000+11,142+24.8%

Americas

4,763

5,553

+789

+16.6%

9,813

13,000+3,186+32.5%

Europe

2,618

2,734

+116

+4.4%

5,500

6,000

+499

+9.1%

13,412

15,989+2,577+19.2%

29,95835,000+5,041+16.8%

3,432

3,787

+355

+10.4%

6,686

7,500

+813

+12.2%

Scientific
Japan
Asia

3,067

4,601

+1,533+50.0%

8,057

10,300+2,242+27.8%

Americas

4,188

4,935

+747

+17.8%

8,992

10,500+1,507+16.8%

Europe

Total

2,725

2,665

-59

-2.2%

6,223

6,700

+476

+7.7%

101,317

114,965+13,647+13.5%

224,314260,000+35,685+15.9%

Japan

31,56734,019+2,451+7.8%

66,41471,700+5,285

+8.0%

Asia

35,38940,826+5,437+15.4%

79,51793,500+13,982+17.6%

Americas15,30017,427+2,127+13.9%

33,37940,100+6,720+20.1%

Europe19,06022,691+3,631+19.1%

45,00254,700+9,697+21.5%

14

HORIBA, Ltd. (Consolidated)5. Consolidated Financial Results (Quarterly Comparison)

Amount : Millions of yen

12/2021 Results

Net Sales
Operating Income
Operating Income Ratio

Ordinary Income
Ordinary Income Ratio

Net Income Attributableto Owners of Parent
Net Income Ratio

12/2022

1Q

2Q

3Q

4Q

1Q Results

2Q Results

2H Forecasts

48,582

52,734

52,63970,35655,51059,454145,034

5,936

7,133

6,789

12,187

8,605

7,654

23,739

12.2%

13.5%

12.9%

17.3%

15.5%

12.9%

16.4%

5,885

7,161

6,820

12,169

8,743

8,041

23,215

12.1%

13.6%

13.0%

17.3%

15.8%

13.5%

16.0%

3,900

4,844

4,976

7,590

5,721

5,518

16,759

8.0%

9.2%

9.5%

10.8%

10.3%

9.3%

11.6%

6. Consolidated Segment Results (Quarterly Comparison)
Net Sales

Amount : Millions of yen

12/2021 Results

12/2022

1Q

2Q

3Q

4Q

1Q Results

2Q Results

Automotive

12,153

12,77012,388Process&Environmental

5,224

4,816

4,527

Medical-Diagnostics

6,302

6,593

Semiconductor

18,441

21,602

2H Forecasts

23,937

13,67512,01340,311

5,649

4,788

5,403

13,308

6,226

6,759

6,650

7,022

14,826

22,64024,32122,22527,19557,578

Scientific

6,461

6,951

6,857

9,688

8,169

7,819

19,010Total

48,582

52,734

52,63970,35655,51059,454145,034

1Q

2Q

1Q Results

2Q Results

2H Forecasts

Operating Income

12/2021 Results

12/2022

3Q

4Q

Automotive

(424)

(763)

(747)

1,921

133

(1,895)

1,762

Process&Environmental

699

414

180

652

453

184

1,361

Medical-Diagnostics

164

162

(242)

63

154

(316)

662

Semiconductor

5,257

7,093

7,370

8,284

7,180

9,600

18,219Scientific

239

224

228

1,265

683

82

1,734

Total

5,936

7,133

6,789

12,187

8,605

7,654

23,739Contact
Corporate Planning and Investor Relations, Corporate Planning Office, Finance and Legal Division, HORIBA, Ltd.
2, Miyanohigashi-cho, Kisshoin, Minami-ku, Kyoto 601-8510, Japan
E-mail: ir-info@horiba.com

15

HORIBA, Ltd. (Consolidated)