Quarterly Financial Results
for the Six-month Period
Ended September 30, 2020

I. Financial Results and Outlook
The six-month period ended September 30, 2020（April 1, 2020 - September 30, 2020）

1

I. Summary of Financial Results
Overview

We had a hard time receiving orders under the situation of the restriction of overseas sales activities due to widespreading COVID-19 and auto makers’ careful investing stance. For semiconductor related business, on the otherhand, as equipment manufacturers continue to make capital investment in response to growing market demandfor 5G’s full-scale service and data center, and we had a good sales, which exceeded year-on-year figures. In
consequence, the sales and profit increased.
(Units in millions of Yen)

(Units in millions of Yen)

Apr. 2019 –Sep. 2019(Actual)Apr. 2020 –Sep. 2020(Actual)YoY Change

Sales28,41532,800Operating
Income1,104

2,741 ＋148.3%

Ordinary
Income1,250

2,841 ＋127.2%

Quarterly net
income attributableto owners of theparent company

765

1,781 ＋132.8%＋15.4%

Apr. 2019 - Sep. 2019
Apr. 2020 - Sep. 2020

32,80028,415Sales

31,67431,070Orders received

33,64432,844

Orders outstanding2

I. Breakdown of Sales by Business Unit
100%

9.0%
16.9%

11.4%
19.2%

28.8%
31.4%

13.8%

17.7%

13.6%

24.8%

9.4%

4.6%

2.4%

4.5%

18.8%

18.7%

21.7%

20.2%

40.1%

39.6%

37.6%

37.1%

17／03

18／03

3.1%
15.7%

30.1%

26.6%
31.5%

3.5%

33.5%

39.9%

50.6%

30.2%

20.4%

38.0%

41.9%

24.9%

30.1%

30.3%

15／03

16／03

42.4%

35.4%

30.6%

0%
12／03

13／03

14／03

Automotive
SemiconductorOthers

19／03

FPD(Flat Panel Display)
Home appliances and other facilities*The figure of FPD related business was integrated into semiconductor related business since April 2012.

20／03

21／03
2Q
3

I. Factor Analysis on Changing Operating Income+230mil+550mil

Decreasein SG&A+1.63bn

Decreasein rateof COGS

2.74bn+840mil
Increasein sales

1.1bn

Apr. 2019 – Sep. 2019
Operating Income

Apr. 2020 – Sep. 2020
Operating Income4I. Balance Sheet
Balance Sheet(Units in millions of Yen)

AssetsCurrent Assets

Apr. 2019 –Mar. 2020

57,792

Apr. 2020 –Sep. 2020

62,440YoY Change＋4,647

Fixed Assets

27,617

29,958＋2,341

Tangible
Fixed Assets
Intangible
Fixed Assets

21,73723,893＋2,156

533

467

△66

Investments
and other assets

5,346

5,597＋251

Total Assets

85,40992,399＋6,989Liabilities

Apr. 2019 –Mar. 2020

Apr. 2020 –Sep. 2020

YoY Change

Current Liabilities

28,831

29,670＋839

Fixed Liabilities

9,585

14,216＋4,631

Total Liabilities

38,41643,886＋5,470Total Net Assets

46,99348,512＋1,519

Capital Ratio

54.4%

52.0%

△2.4Point

Net Assets

Main impact factors
AssetsLiabilities/Net Assets

Buildings and structures＋4,217

Debt with interest＋6,744

Trade receivables＋3,703Retained earnings＋1,366

Construction in progress△3,022

Trade payables△945
5

I. Assumed exchange rate, etc.
Assumed exchange rate

(Units in Yen)

Assumed exchange rate

From Apr. 1, 2020 to Sep. 30, 2020
(Actual rate)

From Oct. 1, 2020
(Applied assumption rate)

Exchange rate（against USD）

106.52100.00Transition of our stock prices
Transition ofour stock prices(Units in Yen)

Apr. 1, 2020 to Mar. 31, 2021

Apr. 1, 2018 toMar. 31, 2019

Apr. 1, 2019 toMar. 31, 2020

High

10,580

8,150

6,350

6,580

6,630

Low

4,285

3,505

5,480

5,540

5,660

End of period

7,640

4,605

5,760

6,080

6,280

July

AugustSeptember

PER／PBR／ROE
PER／PBR／ROE

Apr. 1, 2018
to Mar. 31, 2019

Apr. 1, 2019
to Mar. 31, 2020

Apr. 1, 2020
to Sep. 30, 2020

PER（x）

17.33

27.39

－※

PBR（x）

1.72

1.03

1.36

ROE（％）

10.06

3.77

－※

Please note that there is no information on PER & ROE due to incomparable numbers on the basis of quarterly profit.

6I. Sales, Orders Received and Outstanding by Business Unit
(Units in millions of Yen)

Business Unit

SalesOrders
receivedOrders
outstanding

Apr 2019- Sep 2019

Apr 2020- Sep 2020

YoY
ChangeAutomotive

10,224

10,051△1.7%

Semiconductor

11,102

16,600＋49.5%

Home appliances & others

5,610

5,138

△8.4%

Others

1,478

1,009

△31.7%

TOTAL

28,41532,800＋15.4%

Automotive

11,232

15,543＋38.4%

Semiconductor

13,323

11,444△14.1%

Home appliances & others

5,522

3,146

△43.0%

Others

1,596936△41.3%

TOTAL

31,67431,070△1.9%

Automotive

15,75920,206＋28.2%

Semiconductor

10,321

9,815

△4.9%

6,032

3,256

△46.0%

Others731

365△50.1%

TOTAL

32,84433,644＋2.4%

Home appliances & others

7

I. Global Business Overview
Sales by region

China/Taiwan

EuropeNorth America

HAS, HME（Shanghai, China）
South-east Asia

HEE（Germany）
Sales of automotive
related business went
as planned, whereas
cost rate got worse.

HCA（U.S.A）

Business investment in China waspretty strong due to early resumptionof the business activities.

HET（Thailand）

HCT（Taiwan）

HFM（Malaysia）

The business went wellin semiconductor sector.

HSL（Singapore）

HEM（Mexico）
They keep cautions
stance on theirbusiness investment
due to COVID-19 andChinese-Americanrelations.

It was affected bycustomers’ factory
shut-down and postponementof work due to COVID-19.

(Units in millions of Yen)

JapanAsia

North America

Europe

20/3
2Q

21/3
2Q

20/3
2Q

21/3
2Q

20/3
2Q

21/3
2Q

Sales

23,34828,627

3,075

1,681

1,781

1,805

210

Operating
Income

1,052

3,011

668

△52△467

△89

△83

20/3
2Q

Total

21/3
2Q

20/3
2Q

21/32Q

685

28,41532,800

△147

1,170

2,721

Please note that total figure of operating income is before consolidation adjustments between regional segments.

8

I. Topics - Business update on Organic EL/EV businesses
Business update on Organic EL/EV businesses(Units in millions of Yen)

Amount of orders received
Apr. – Sep.
2019

Apr. – Sep.
2020

Organic EL related
business

6,179

2,732

Electric vehicle
related business

684

5,070

YoY
ChangeSales
Apr. – Sep.
2019

Apr. – Sep.
2020

YoY
Change△3,4473,793

8,231＋4,438＋4,387

1,0481,384＋336● Organic EL related business
The sales of organic EL related business accounted for about 50% of its total semiconductor
sales, which was the increase of about 117% on a year-to-year comparison. The incomingorders were decreased by about 56% on a year-to-year comparison.
● Electric vehicle related business
The sales of EV related business accounted for about 14% of its total automotive sales,
which was the increase of about 32% on a year-to-year comparison. The incoming orders
increased at a great rate on a year-to-year comparison.
9I. Topics – Dedication ceremony for a new Headquarters building
Dedication ceremony for a new Headquarters building
Hirata held a dedication ceremony for a new Headquarters building (hereinafter “HQ building”) on August 25. We
invited 31 people including Mr. Kabashima, the governor of Kumamoto prefecture and Mr. Onishi, the mayor ofKumamoto city. Noh, one of the theatrical art, and Japanese drum performance graced the ceremony. Yuichiro
Hirata, the CEO, made a speech that the new HQ building is finally built at this Kumamoto, our home. I hereby
pledge that we repay our home Kumamoto by improving our production efficiency and proving our capability tocompete against the best in the world.

Yuichiro Hirata, the CEO, greeted
the attendees.

The video about ACS development story tells you how
Hirata got into automotive market.

10I. Topics - HAS received a FY2019 special award from JATCO Suzhou
HAS received a FY 2019 special award from JATCO Suzhou
Hirata Automated Machinery (Shanghai) Co.,Ltd. (hereinafter “HAS”), one of Hirata’s affiliated company in China,
received a FY2019 special award from JATCO (Suzhou) Automatic Transmission Ltd. (hereinafter “JATCOSuzhou”) on September 14, 2020. JATCO Suzhou evaluated Hirata’s hard work for supporting their factorylaunch. 35 companies including HAS were elected under the category of quality, special, QCDS A rank awardsfor FY2019.

Zhang general manager received aplaque (right)

11

I. Topics - Hirata and Hirata union worked as volunteers at Kuma village
Hirata and Hirata union worked as volunteers at Kuma village
Total of 32 Hirata’s employees worked as volunteers three times in September at Kuma village, Kuma county,
Kumamoto prefecture which were affected by heavy rain in July. They removed soil from flooded houses,
cleansed and restored submerged documentations at an elementary school, and shoveled dirt at a timberfactory. They worked hard and quietly in bounded time in order to be of help. Hirata really hopes for theearly restoration of the disaster affected area.

The volunteers wore Hirata’s red T-shirt

12

Ⅱ Forecast for FYE March 2021
The six-month period ended September 30, 2020（April 1, 2020 - September 30, 2020）

13II. Forecasts for FYE March 2021: Earnings Forecast
Hirata announced its revised earnings forecast for the full year on November 12, 2020.

(Units in millions of Yen)FY2020/3

FY2021/3 (Forecast)

FY2021/3 (Forecast)(Actual)announced on August 6, 2020

announced on November 12, 2020

65,61267,00067,000Automotive

23,22525,00026,000

Semiconductor

26,16627,00029,000Home appliances & others

13,24013,00010,000

2,979

2,000

2,000

Sales

OthersOperating Income (margin)

2,736(4.2%)

1,900(2.8%)

2,500(3.7%)

Ordinary Income (margin)2,861(4.4%)

2,000(3.0%)

2,600(3.9%)

Quarterly net income
attributable to owners of theparent company

1,744(2.7%)

1,100(1.6%)

1,500(2.2%)

As to the amendment of the full-year forecast
As to the earnings forecast ending March 2021, the sales of home appliances and others would be lower than anticipated due to thespread of the COVID-19. That of automotive and semiconductor, on the other hand, would be higher than anticipated due to agrowing demand for data-center and recovery trend of electric vehicle related production equipment. Thus, the composition ratio of
each segment would change even though there is no change on the entire sales estimate.
Regarding the research and development budget we planned at the beginning of the term, we needed more time for researchequipment consolidation and rescheduled it to the next term partially. We revised up its operating income, ordinary income, andquarterly net income attributable to owners of the parent company as the budget ended up lowering the original plan.

14

II. Forecasts for FYE March 2021: Business Environment
Automotive related businessWe foresee that both automotive and parts manufacturers maintain a cautions stance on their business
investment due to automotive market downturn caused by the spread of the COVID-19. We remain
skeptical about the uncertainty of ordering situation due to a growing concern about the second wave of
COVID-19. Even under the situation, we put all our energy into receiving orders of business inquiries suchas EV related business.

Semiconductor related business
The full-scale service of 5G, and work from home and online lesson are expanding globally. This situation
put upward pressure on investment for CPU of data center. We work harder to receive orders continuously
on its semiconductor business and focus on receiving orders of organic EL related business which is very firm.

Home appliances and other businessWe expect that companies tend to shrink their capital investment and the unclear situation continues causedby the limitation of their production activities in Asia due to the spread of the COVID-19. We try harder toreceive large orders for home appliances business.
15

II. Forecasts for FYE March 2021: Dividend Forecast
Dividends and dividend ratio per share（Unit in Yen）

FYE Mar 2017 FYE Mar 2018 FYE Mar 2019 FYE Mar 2020

Dividends per share

100.00

Dividend ratio(%)

16.0

125.00including memorial
dividend 25.00yen

19.5

FYE Mar 2021
(Estimate)

Announcement on
Aug.6, 2020

Announcement on
Nov.12, 2020

125.00

40.00

25.00

30.00

28.4

23.8

23.6

20.8

About dividend forecast

Note: Dividend ratio is on a consolidated basis.

We fully consider profit return to our shareholders as a highest priority issue. So, we endeavor
to pay dividend stably and continually to be more than 20% of the consolidated dividend ratio
as a guide by strengthening our financial characteristic and also taking into consideration ourconsolidated performance and business deployment.
Hirata estimated to pay annual dividend per share of 30.00 yen for the fiscal year ending
March 2021 based on the profit level of the sales estimate and the dividend ratio of theprevious year.
16

Ⅲ. Reference Data
The six-month period ended September 30, 2020（April 1, 2020 - September 30, 2020）17

III. Quarterly Trends of Sales by Business Unit
Sales by Business Unit

(Units in millions of Yen)

Automotive
Semiconductor
Home appliances & others
Others

22,19522,655

533

791

3,588

4,687

20,251
444

5,626
6,891
4,720

13,827
800

3,258
4,721

9,459

14,588
678
2,352

532
2,493

14,5406,380

17,489

710

2,942

9,154
9,375

5,908

15,310
476
2,644

7,225

11,180

3Q

4Q
2019/3

8,022

5,047

5,176

4,978

1Q

2Q

3Q
2020/3

4Q

5,088

4,962

1Q

2Q
2021/318

III. Quarterly Trends of Received Orders by Business Unit
Received Orders by Business Unit

(Units in millions of Yen)24,203

Automotive
Semiconductor
Home appliances & others
Others569

3,546

16,738447

13,141

18,172783

13,501

3,471

812

521
2,779

4,759

8,452

5,620

4,220

2019/3

4Q

6,657

1Q

14,975639
3,300

13,089

3,243

4,871
8,059

3Q

15,522

2,279

433
1,606
5,547

502
1,539
5,897

6,625

4,575

4,957

2Q

3Q
2020/316,094

6,998

7,388

8,155

4Q

1Q

2Q

2021/319

III. Quarterly Trends of Orders Outstanding by Business Unit
Outstanding Orders by Business Unit

(Units in millions of Yen)

AutomotiveSemiconductor
Home appliances & others
Others35,042699

29,586

6,238

613

10,23133,931
597
5,142

660

731

6,390

6,032

35,374438
5,249

32,860
339
4,362

6,121
11,8308,099

17,872

32,84433,827

10,321

11,038

14,972

14,751

16,36015,75915,737

14,714

4Q

1Q

2Q

3Q

4Q

3Q
2019/32020/3

11,14417,01433,644
365
3,256
9,815

20,206

1Q

2Q
2021/320

III. R&D, CAPEX, Depreciation and Amortization(Units in millions of Yen)

Apr. - Sep. 2019
Apr. - Sep. 2020

2,818

693
600

531441

217

R&D expenses

Capital expenditures

Depreciation & Amortization

21III. Key Financial KPIs/Indicators
Account Receivables/Turnover period

Inventory/Turnover period(Days)(Units in millions of Yen)

33,044 32,881

38,074

183

185

198

20/3 2Q

20/3 3Q

20/3 4Q

A/R Turnover period

40,938 41,777
216

21/3 1Q

21/3 2Q

20/3 2Q

Turnover period

15,137 14,537

0.34

0.33

0.09

0.13

20/3 2Q

20/3 3Q

Debt with interest

0.31
0.08

20/3 4Q

21,282
0.44

0.41
0.17

0.22

21/3 1Q

21/3 2Q

D/E ratio

7,591

20/3 3Q

50

20/3 4Q

Inventory(X)

19,336

10,43755

46

Debt with interest/Debt equity ratio/Net debt equity ratio

15,6889,163

209(Units in millions of Yen)

(Days)(Units in millions of Yen)Net D/E ratio

8,398

8,327

42

44

21/3 1Q

21/3 2Q

Turnover period

Total shareholder’s equity/Equity ratio(Units in millions of Yen)(％)

45,51945,75456.0

55.9

20/3 2Q

20/3 3Q

46,46747,00248,012
52.0

54.4

20/3 4Q

Total shareholder's quity

51.6

21/3 1Q

21/3 2Q

Equity ratioNote) Accounts receivable turnover period and Inventory turnover period list its average number of each quarter.

22Cautionary statement with this document

Forecasts and other forward-looking statements presented here
represent judgment we made based on information available at thetime this presentation was prepared, and involve risks oruncertainties, such as economic conditions, competition with rival
companies, and exchange rate. Readers should understand,therefore, that actual results may be significantly different fromforecasts referred to or stated here due to changes in businessenvironments and other factors.

23