Financial Information
HORIBA, Ltd.
February, 2023
© 2023 HORIBA, Ltd. All rights reserved.

1

Contents
 2022 Results 2023 Forecast Outlines by Business Segment
 Topics - Various activities for target markets
 Shareholder Return Financial Data Corporate Profile© 2023 HORIBA, Ltd. All rights reserved.

22

Contents
 2022 Results 2023 Forecast Outlines by Business Segment
 Topics - Various activities for target markets
 Shareholder Return Financial Data Corporate Profile© 2023 HORIBA, Ltd. All rights reserved.

33

Review of 2022

External
Events The tense international situation, including the Ukraine crisis and increased
complication of US-China relations
 Accelerated inflation, including a rise in energy prices, in addition to global
procurement difficulties
 Progress in global structural reform of the semiconductor industry from theeconomic security perspective Growing interest in hydrogen energy, ammonia, and synthetic fuels Further heightened interest in life science

Internal
Events Accelerated cross-segment activities in three focused fields
 Business expansion in new markets related to hydrogen energy and life
science Expanding applications of process measurement and control in industry
 Strengthened procurement capabilities through global cooperation within the
HORIBA Group© 2023 HORIBA, Ltd. All rights reserved.

4

2022 Results(Billions of Yen)

2021
Results2022
Forecasts(as of Nov. 11)

Results

vsForecasts(as of Nov. 11)

vs
2021

265.0
43.0

270.1
45.8

+45.8

+5.1

Operating profit

224.3
32.0

+13.7

+2.8

O.P.%

14.3%

16.2%

17.0%

＋2.7p

＋0.8p

Ordinary profit

32.0

43.5

46.8

+14.8

+3.3

Net income attributableto owners of parent

21.3

30.0

34.0

+12.7

+4.0

USD/JPY

109.90129.91133.00138.00131.62138.14+21.72

-1.38

+8.23

+0.14

Sales

EUR/JPY© 2023 HORIBA, Ltd. All rights reserved.

： Record-high52022 Results by Segment(Billions of Yen)

Sales
2021

Results

Auto
P&E
Medical
Semi
Scientific
Total

Operating profit
2021

2022
Forecasts(as of Nov. 11)

61.2

66.0

20.2

23.5

25.8

28.5

87.0

112.0

29.9

35.0

224.3

265.0

Results

67.5
22.5
29.7
114.0
36.2
270.1

vs
2021

vs
Forecasts

Results(as of Nov. 11)2022
Forecasts(as of Nov. 11)

+6.2

+1.5

-0.0

-1.5

+2.3

-0.9

1.9

2.0

+3.8

+1.2

0.1

0.5

+27.0

+2.0

28.0

39.5

+6.2

+1.2

1.9

2.5

+45.8

+5.1

32.0

43.0

Results

-0.6
2.1
-0.0
42.0
2.5
45.8

vs
2021

vs
Forecasts(as of Nov. 11)

-0.6

+0.8

+0.1

+0.1

-0.2

-0.5

+13.9

+2.5

+0.5

+0.0

+13.7

+2.8

： Record-high© 2023 HORIBA, Ltd. All rights reserved.

6

2022 Results (B/S, CF)

B/S

Total assets were ¥416.7bn, up ¥45.1bn, by increasing
inventory
Equity ratio: 57.6%(compared to the end of Dec. 2021)

CFOperating CF: Cash in ¥33.9bn due tooperating profit
Investing CF: Cash out ¥10.7bn due tocapital investments
Financial CF: Cash out ¥22.4bn due torepayments of long-term debt

© 2023 HORIBA, Ltd. All rights reserved.

Free CF: + ¥23.2bn

7

Contents
 2022 Results 2023 Forecast Outlines by Business Segment
 Topics - Various activities for target markets
 Shareholder Return Financial Data Corporate Profile© 2023 HORIBA, Ltd. All rights reserved.

88

HORIBA’s Assumptions Regarding Market Environment
General

Expect a recovery in economic activities in the “with or post-COVID-19” era.
Remain concerned about the impact of global inflation and the complicated international situation.

Automotive

Anticipate accelerated use of hydrogen energy/batteries and digitalization of vehicle.
Expect a recovery of demand for R&D investment related to internal combustion engines in
preparation for the introduction of new emission gas regulations in Europe.

Process &Environmental

Expect business expansion in the new energy market in response to the decarbonization trend.
Environmental regulation-driven demand remains strong; the needs for air and water quality
measurement is growing in the semiconductor industry.

Medical

Expect strong sales of medical instrument in Japan and growing markets.
Sales of instruments will lead while recovery in sales of regent may take some more time.

Semiconductor

Capital investment by semiconductor manufacturers is likely to enter an adjustment phase.
Anticipate mid-term growth in the semiconductor market and expansion in measurement demand.

Scientific

Demand is strong for measurement and analysis equipment for development and manufacturing
processes in various markets.
Anticipate an increase in demand in the life science market.

© 2023 HORIBA, Ltd. All rights reserved.

92023 Forecasts(Billions of Yen)

2021

2022

Results

Results

2023

Forecasts

290.0
46.0

Sales

224.3

270.1

Operating Profit

32.0

45.8

O.P.%

14.3%

17.0%

Ordinary Profit

32.0

46.8

Net Income attributableto Owners of Parent

21.3

34.0

45.5
35.5

Net profit per share (Yen)

505
11.2%

807
15.4%

840
14.1%

ROE
© 2023 HORIBA, Ltd. All rights reserved.

15.9%

vs
2022

+19.8
+0.1
-1.1p

-1.3
+1.4
+33
-1.3p
： Record-high102023 Forecasts by Segment(Billions of Yen)

Sales

Auto
P&E
Medical
Semi
Scientific
Total

2022

2023

Results

Forecasts

67.5
22.5
29.7
114.0
36.2
270.1

© 2023 HORIBA, Ltd. All rights reserved.

79.0
25.0
31.0
115.0
40.0
290.0

Operating profit
vs
2022

2022

2023

Results

Forecasts

+11.4

-0.6

+2.4

2.1

+1.2

-0.0

+0.9

42.0

+3.7

2.5

+19.8

45.8

vs
2022

0.5
2.5
0.5
38.5
4.0
46.0
： Record-high

+1.1
+0.3
+0.5
-3.5
+1.4
+0.1
11

Contents
 2022 Results 2023 Forecast Outlines by Business Segment
 Topics - Various activities for target markets
 Shareholder Return Financial Data Corporate Profile© 2023 HORIBA, Ltd. All rights reserved.

12Automotive

2022 Results and 2023 Forecasts

2022 Results

2023 Full Year Forecasts
Medium- to long-term outlook*1 Mechatronics*2 Engineering Consultancy & Testing Booking was strong, but the timing of shipments and acceptanceinspections was delayed due to procurement difficulties.
【MCT*1 and ECT*2】• Sales increased by capturing demand for vehicle electrificationand hydrogen energy.
• Expenses also increased owing to rising materials prices, inaddition to increased investment in growth fields such ashydrogen energy and batteries.

Sales and O.P. (Half Year/Full Year)(Billions of yen)
*Announced in November 2022

【EMS】
Increase in demand in anticipation of the introduction of new emission
gas regulations* in Europe.
【MCT and ECT】
• Expect sales expansion in the field of next-generation mobility
development.
• Expect an increase in sales for the hydrogen energy industry due to
steady booking of the related products.
• Aim to improve profitability by shifting to higher-value-added
products in the MCT business.

Sales by Region
Sales
O.P

© 2023 HORIBA, Ltd. All rights reserved.

13

Process &Environment

2022 Results and 2023 Forecasts
2023 Full Year Forecasts
Medium- to long-term outlook

2022 Results【Water quality monitoring】
Steady demand for water quality measurement equipment used in
the manufacturing processes in the electronics industry and incompliance with environmental regulations.
【Gas monitoring】• Sales increased in Asia due to demand related to environmental
regulations.
• Solid measurement-related demand at existing power plants.

Sales and O.P. (Half Year/Full Year)(Billions of yen)
*1 Total Organic Carbon*2 Carbon dioxide Capture, Utilization and Storage

 Expect an increase in demand for process measurement in theindustrial field in addition to environmental regulations.
【Water quality monitoring】
Capture demand for new products such as TOC analyzers*1 andregulation-related demand.
【Gas monitoring】• Expect an increase in demand for gas measurement in the electronics
industry.
• Expect an increase in demand for new energy and CCUS*2-related
demand.

Sales by Region
Sales
O.P.

© 2023 HORIBA, Ltd. All rights reserved.

14

MedicalDiagnosis2022 Results and 2023 Forecasts(Billions of yen)2023 Full Year Forecasts
Medium- to long-term outlook

2022 Results
 Sales of test reagents remained sluggish due to the lingering impact
of COVID-19.
【Japan/Asia】
Increased sales of hematology analyzers mainly due to the launch of
new products.
【Americas】
Increased sales of clinical chemistry analyzers and reagents.
Investment also increased with the aim to expand business in theclinical chemistry field.

Sales and O.P. (Half Year/Full Year)

 Expect a recovery in test reagent sales in the future, as
equipment sales are preceding in Japan and growth markets.
 Aim for further business expansion in the fields of immunology
and clinical chemistry other than the hematology field.

Sales by Region
Sales
O.P.

© 2023 HORIBA, Ltd. All rights reserved.

15

Semiconductor

2022 Results and 2023 Forecasts(Billions of yen)2023 Full Year Forecasts
Medium- to long-term outlook

2022 Results Semiconductor manufacturers further boosted capital
investment. Significant increase in sales to semiconductor
production equipment manufacturers.
 Expanded business in China and India. Demand for mass
flow controllers for production of photovoltaic panels andartificial diamond increased.

Sales and O.P. (Half Year/Full Year) Capital investment by semiconductor manufacturers will
be in an adjustment phase through the first half of 2023.
 Demand is expected to expand in the second half as themarket recovers.
 In addition to existing main products, aim to expand
business fields by utilizing various sensing technologies.

Sales by Region

Sales
O.P.

© 2023 HORIBA, Ltd. All rights reserved.

16

Scientific2022 Results and 2023 Forecasts(Billions of yen)2023 Full Year Forecasts
Medium- to long-term outlook

2022 Results
 Strong demand for and increased sales of opticalcomponents for semiconductor production equipment
manufacturers.
 Increased sales of Raman Spectrometers, Particle-size
distribution analyzers, X-ray fluorescence analyzers
and other devices for the markets related to advanced
materials and life science.

 Expand the industrial process monitoring business inparallel with sales expansion of cutting-edge R&D products.
・ Expect an increase in demand for products specialized
for industrial processes of the life science field (i.e.,
pharmaceuticals) and the semiconductor market.
 Expect to reap the benefits from products that have been
introduced to the market.

Sales and O.P. (Half Year/Full Year)Sales by Region
Sales
OP

© 2023 HORIBA, Ltd. All rights reserved.

17

Contents
 2022 Results 2023 Forecast Outlines by Business Segment
 Topics - Various activities for target markets
 Shareholder Return Financial Data Corporate Profile© 2023 HORIBA, Ltd. All rights reserved.

18

Various activities for target markets - final year of MLMAP2023
Mid-Long Term Management Plan ”MLMAP2023”

Market Oriented BusinessTo develop analysis and measurement solutions, utilizing HORIBA’s core technologies,
in the leading three business fields of the mega trend

Energy & Environment
Automotive
Environment

Bio & Healthcare

Materials &Semiconductor

Medical-Diagnostic

Semiconductor

Process
Scientific

Solution Provider Beyond “Life Cycle Management”
To support customers’ core businesses from all aspects – from product introduction to replacement

Three concept
in Automotive business© 2023 HORIBA, Ltd. All rights reserved.

Service Lifecycle
Management- Conventional Energy -Mobility Solution
Business

Alternative Energy
Conversion
19

[Energy & Environment] Hydrogen Business
The entire HORIBA Group is involved in expansion of hydrogen businessStarted mass production of waterelectrolyzers that producehydrogen, in Europe

The Evaluator series is comprised ofelectrolyzer development evaluation
systems and production inspection systems.

The HORIBA Group
responds to growing
needs
Left: HORIBA
FuelCon’s
electrolyzer evaluation
systems【SYMBIO】
Hydrogen/fuel cell
joint venture
between Michelin
and Faurecia
Right: HORIBA FranceBooked evaluation equipment orders for fuel cells from SYMBIO.
At their giga factory commencement ceremony HORIBA wasintroduced as an indispensable partner for fuel cell production..

 HORIBA France received an order for the project.
 Plan to also provide electrolyzer evaluation systems of HORIBA
FuelCon (Germany) and scientific products of other HORIBAGroup companies.

SYMBIO© 2023 HORIBA, Ltd. All rights reserved.

20

[Energy & Environment] CO2 Fixation and Capture
Contributing to the realization of a carbon neutral society
Carbon recycling technology (fixation and capture)MonitorMonitor various exhaust gases
exhaustgas
generated in processes using thechemical absorption method.

High concentration gas monitoring

The chemical absorption
method using amine solution
is widely used in processes of
CO2 fixation and capture.

Monitoramine
solution

Monitor amine solution todetermine timing of
replacement/additional injection.

Outdoor type
pH/electricalconductivity
analyzer

Multi-component gas analyzer
Process Raman,
fluorescenceanalyzerLow concentration gas monitoring

Trace gas analyzer© 2023 HORIBA, Ltd. All rights reserved.

21

[Energy & Environment] Mobility Solution Business #1
Providing a range of R&D solutions in the new automotive field
HORIBA MIRA, with close partnerships with automotive manufacturers worldwide, supports their development efforts
Engineering

Certificationand standard
testing

UK-based automotive companies✔

✔

Non-UK-based automotive companies✔

✔

Automotive start-ups✔

✔

Automotive suppliers✔

✔

Material manufacturers✔

Customers of HORIBA MIRA

Local
specification
testing

Benchmarktesting

Location

✔
✔

✔
✔

✔

✔
✔

Seamlessly conduct digital simulation andfeasibility tests (digital-twin) A comprehensive development engineering
facility that supports work from design to actual
vehicle verification started full operation in 2022.
 Received the “Test Facility of the Year” award
from UK's Vehicle Dynamics Internationalmagazine in 2022.
© 2023 HORIBA, Ltd. All rights reserved.

22

[Energy & Environment] Mobility Solution Business #2
As a partner, developing solutions matched to customers’ issues
Real-world simulation system for autonomous driving/ADAS sensor evaluation
 Reproducing rainfall conditions on public roads with a focus on environmental recognition performance inbad weather
 Quantitative and efficient evaluation of the performance limits of sensors
１１

 Environment simulator that
reproduces five levels of rainfall,from fog to heavy rain** Rainfall of 20-100mm/h

２２

 Equipment to put a test vehicle
into an actual driving state tooperate ADAS (steerable 4wheel constant velocity bench)

Delivered the products to NTSEL* (of the National Agency for Automobile and Land Transport Technology)* National Traffic Safety and Environment Laboratory© 2023 HORIBA, Ltd. All rights reserved.

23

[Energy & Environment] Conventional Energy"HORIBA will Never Stop Combustion Measurement”
Ensure the operating rate of automotive development labs
 Support customers’ utilization of HORIBA’s existing emission measurement systems and development workat labs, in response to their demand for new vehicles in the transition period of vehicle electrification.
Emission measurement business order trends
Nov. 2022: EU’s
announcement of theEuro 7 emission regulations[Upgrade]

Upgrade to the latest equipment to
respond to new regulations.
Introduce equipment with latest
specifications.

Orders accelerate
in preparation for
new regulations
forecast© 2023 HORIBA, Ltd. All rights reserved.

Multi-faceted approach・・・[Prolong product life]

Maintain functions with a prolonged life plan.
Add new functions.

[Recycle]

Remove parts.
Manage stock parts for repair.

About 8,000 delivered
units of HORIBA’s
MEXA series are still in
active operation.
24

[Bio & Healthcare]

Products for Pharmaceutical Manufacturing Process
Expanding business in the pharmaceutical industry
Pharmaceutical businessprocess

Provide high-end analyzers and measuring devises such as Raman spectrometers

Pharma company

HORIBA’s products enable real-time monitoring and contribute toimproving yield rates

ーR&Dー

Process Raman,
fluorescenceanalyzer

Contract development
and manufacturingorganization (CDMO)
Bio reactor(culture tank)

Pharma companyーMarketing and salesー

Pharma market© 2023 HORIBA, Ltd. All rights reserved.

TOC analyzer
Total organic carbon
measurement

Medium component monitoringTracesampling
pH analyzer
pH control
25

[Materials & Semiconductor]

Cross-segment Activities to Expand Opportunities
From R&D to manufacturing: Use of HORIBA’s analyzers and measuring devises

Semiconductor
manufacturing

Manufacturing
equipment

Facility

Key components and devices insemiconductor manufacturing

Clean
room
Manufacturing
equipment

Mass flow
controller

R&D

Clean room
R&D

Film thickness
evaluation and CMPslurry evaluation

Monitoring
Airborne
Molecular
Contamination (AMC)

Chemicalconcentration
monitorPlasmaemissionmonitorRadiation
Reticle/Mask particle
thermometer
detection system

Facility
Real-time monitoringfor smart factories

in clean room

Spectroscopic
Centrifugal nanoellipsometry© 2023 HORIBA, Ltd.
All rights reserved.
particleanalyzer

AMC
monitoring system

Highly-sensitive
silica monitor

Non-refill
self-cleaning pH
electrode

Processlaser gasanalyzer 26

[Materials & Semiconductors] MFC in Various Fields
Mass flow controllers (MFC) contributing to the production of solar panels and artificial diamonds

Expand booking for MFCs for general industry, mainly in China and India
Booking for MFCs for general industry

HORIBA Precision
Instruments in
Beijing
manufactures
MFCs for generalindustry
HORIBA Precision Instruments(Beijing) Co., Ltd. (Beijing)

MFCs installed in
manufacturing
equipment for solar
panels, artificial
diamonds, and power
semiconductors© 2023 HORIBA, Ltd. All rights reserved.

Booking in 2022
reached 10 billion yen

forecast

・・・Will start
production of
MFCs for generalindustry in India in
the first half of2023
HORIBA India Private Limited(Pune)
27

Full-scale operation of HORIBA C-CUBE, a new base in China
A new base to meet the needs of the Chinese market
 A new base in China where operations of all
HORIBA's segments have been brought together
 HORIBA's largest base engaged in integrated
operations from development and production toafter-sales services© 2023 HORIBA, Ltd. All rights reserved.

Five Cs of C-CUBE

HORIBA INSTRUMENTS(SHANGHAI) CO., LTD.
Location:
Jiading District, Shanghai
Headcount: 144 (Dec. 2022) Located in the key area for
new energy vehicle
Construction cost:development in China's
9 billion yen (in total)largest automobile 28
industry district

Sale of part of MIRA UGV’s shares
 HORIBA MIRA Limited (MIRA), sold part of the shares of MIRA UGV Limited(UGV) owned by MIRA to Iveco Defence Vehicles S.p.A. (Italy) (IDV).
For nearly 30 years, MIRA has provided Unmanned Ground Vehicle development engineering
services for the defense industry

Transfer part of the shares of UGV to IDV, in order to concentrate on field of consumer vehicles
such as passenger cars and heavy-duty vehicles

Approximately 6,200 million yen of impact on profit and loss related to the share transfer, and thetransferred amount is expected to be recorded as an extraordinary gain for the first quarter of
FY2023.
Future developments

 IDV concluded a contract with MIRA for tenant leaseagreement of MIRA Technology Park and the longterm engineering contract
 MIRA will provide engineering services and jointly
develop technologies with IDV© 2023 HORIBA, Ltd. All rights reserved.

29

Contents
 2022 Results 2023 Forecast Outlines by Business Segment
 Topics - Various activities for target markets
 Shareholder Return Financial Data Corporate Profile© 2023 HORIBA, Ltd. All rights reserved.

30

Shareholder Return
Basic policy

Dividend payment + Share buyback = 30% of Consolidated net profit to be targeted
Remaining earnings are retained internally for strategic investment (i.e. facilities, M&A)

Dividends per share and Share buybacks
 2021 Results 150yen [Interim 50yen/Year-end 100yen] 2022 Results 245yen [Interim 65yen/Year-end 180yen] 2023 Forecast 255yen [Interim 80yen/Year-end 175yen]
Per-share dividend
Ordinary Div. (yen)280

Commemorative Div. (yen)Total Return Ratio (%)

60.0%

240

Share Buyback

200
160

26.8%

30.6%

120

30.0%
27.6%

67

70

2014

2015

85

145

28.8%

29.7%

20
27.4%

80
40

45.0%

35.4%

116

125

130

2017

2018

2019

30.4%

30.3%

245

255

150

30.0%

15.0%

90
0.0%

0
© 2023 HORIBA, Ltd. All rights reserved.

2016

2020

2021

2022

2023F

31

Contents
 2022 Results 2023 Forecast Outlines by Business Segment
 Topics - Various activities for target markets
 Shareholder Return Financial Data Corporate Profile© 2023 HORIBA, Ltd. All rights reserved.

32

Operating Profit Analysis (vs 2021)(Billions of yen)2021
Jan. – Dec.

32.04

2022
Jan. – Dec.

Increase
Sales＋23.32

Increase
COGS-14.53

Increase
Gross Profit ＋8.79© 2023 HORIBA, Ltd. All rights reserved.

Exchange
impact for
Gross Profit+14.65

Exchange
impact for
Expense-3.99

Exchange
Impact ＋10.66

Increase
R&D
Expense-1.14

Increase
Other
Expense

-4.51

45.84

Increase
Expenses -5.65

Increase Operating Profit ＋13.79

33

Consolidated Cash Flows(Billions of Yen)

2022

2021

Variation

Cash flows from operating activities

+33.9

+35.2

-1.3

Cash flows from investing activities

-10.7

-14.6

+3.9

Cash flows from financing activities

-22.4

-4.0

-18.4

Cash and cash equivalents at end of year

138.7

133.9

+4.8

Free cash flows

+23.2

+20.6

+2.6

© 2023 HORIBA, Ltd. All rights reserved.

34

Cash Balance(Consolidated basis, each end of period)(Billions of Yen)

Total Loan Balance

70.3
Cash
95.6

Bonds
45.0
Long
16.8
Short 8.4

2019
245％
54％

Cash
114.5

77.0
Bonds
30.0
Long
37.5
Short 9.5

2020
308％
54％

Cash
135.0

80.1

Bond
redemption

Cash
139.8

￥15.0bn（2026）

67.2
Bonds
30.0
Long
25.0
Short
25.1

2021
253％
55％

Bonds
30.0
Long
24.8
Short 12.3

2022
264％
58％

￥15.0bn（2029）

Borrowed fromBanks
¥20.0bn(redemption 2030)
Redeemed Bank
Borrows¥15.1bn(redemption Sep. 2022)

Current ratio
Capital ratio

・Recent issuer rating: R&I “A” (Sep. 2022), JCR “A+” (Sep. 2022)© 2023 HORIBA, Ltd. All rights reserved.

35

Exchange Rate Trend / Forecasts / Impacts
2021

2022

Annualvs 2022
Annual Forecasts

USD

109.90131.62

130

-1.62

EUR

129.91138.14140+1.86(Annual)Exchange rate impact
for 2023 Forecasts

Exchange rate impact for 2022
(vs 2021)
Increase sales
Increase cost of goods sales+22.49+14.65

Increase expenses-3.99© 2023 HORIBA, Ltd. All rights reserved.

1 yen impact of Sales and O.P.
(Weak yen)

-7.83

Impact to gross profit
Impact to operating profit2023+10.66

USD
EUR

Sales

Operatingprofit

+0.78
+0.38

+0.43
+0.01
36

Capital Investment, Depreciation, R&D
2022

2021

Actual(Billions of Yen)

Previous
Forecasts(as of Nov. 11)

Actual2023
vsPrevious
Forecasts

vs2021

Forecasts

vs
2022

Capex

12.4

13.5

12.5

+0.0

-0.9

14.0

+1.4

Depreciation andamortization

10.4

11.0

11.3

+0.9

+0.3

12.0

+0.6

R&D expenses

16.7

19.0

18.5

+1.8

-0.4

22.0

+3.4

7.4%

7.2%

6.9%

-

-

7.6%

-

to net sales(%)

2023
Topics

PP&E:
investment in semi and automotive-related facilities, enhancement of global bases
Consider urgency and priority and make investment decisions37© 2023 HORIBA, Ltd. All rights reserved.

37

Contents
 2022 Results 2023 Forecast Outlines by Business Segment
 Topics - Various activities for target markets
 Shareholder Return Financial Data Corporate Profile© 2023 HORIBA, Ltd. All rights reserved.

38

Five Business Segments & Major Products
Figures are the sales composition ratio for FY 2022​

Automotive（25%）

Emission Measurement
Systems

Process &Environmental

Medical

Semiconductor

Scientific

Stack Gas Analyzers

Automatic Blood Cell
Counters plus CRP

Mass Flow Controllers

Raman Imaging Device（8%）© 2023 HORIBA, Ltd. All rights reserved.

（11%）

（42%）

（14%）

39

Global Network
Sales by region(as of Dec 2022)

Americas●

Europe16%

20%

Employee headcount by region
Americas

Number of companies（as of Dec 31, 2022)© 2023 HORIBA, Ltd. All rights reserved.

Japan

Asia

Japan

27%

(as of Dec 2022)

20%

32%

49

Asia

37%

Europe12%: Major business hubs

Overseas sales ratio（as of Dec 2022)

73%

36%

Foreign employee ratio（as of Dec 31, 2022)

64%
40

Achieving Sustainable Growth through M&A
Major M&As
1996
ABX （France）【Medical】

1997
Jobin Yvon

2005
SCHENCK DTS【Scientific】【Automotive】（France）（Germany）

2015
MIRA （UK）【Automotive】

Trends in consolidated sales

About nine-fold growth in corporate scale in 30 years

1990

2000
© 2023 HORIBA, Ltd. All rights reserved.

2010

2018
FuelCon（Germany）【Automotive】

270.1 billion yen

2020
41

HORIBA’s Business Domain
Space
Development
Agriculture
Plant factory
Soil analysis
Food safety
Safety management

New Material
Development
Secondary battery
Biomaterial
Steel and ceramics

Planetary probe
Auroral analysis

IT Infrastructure

Health and Security

IoT, Cloud, 5G
Automation informatics

Diagnostic equipment
New drug development
Drinking water

Manufacturing Process
Semiconductor device
Solar panels
Petrochemical plant

Water Quality
Management

Global Environment
Conservation

Monitoring system
Compliance with
waste water regulations

Monitoring air pollution
Renewable energy/power plant
Greenhouse gases© 2023 HORIBA, Ltd. All rights reserved.

Automotive/Ship Development
Ultra-low emission
Vehicle electrification, EV
Autonomous driving
Regulatory compliance42© 2023 HORIBA, Ltd. All rights reserved.