Consolidated
Financial Results
for the Six Months
Ended September30, 2022

Hirata Corporation
Note : This document has been translated from the Japanese original forreference purposes only. In the event of any discrepancy between thistranslated document and the Japanese original, the original shall prevail.

Financial Results
The Six-month Period Ended September 30, 2022（April 1, 2022 - September 30, 2022）

2

Financial Results
Overview
Net sales increased from the same period of the previous fiscal year due to the easing of restrictions on activities byoverseas affiliates. In terms of profit, the cost of sales ratio remained the same as the same period of the previous
fiscal year due to the controlling of outsourcing costs by expanding in-house production, despite the impact of higher

raw material and other costs. On the other hand, profit decreased from the same period of the previous fiscal year
due to an increase in selling, general and administrative expenses, etc.
(Units in millions of Yen)

Apr. 2020 –Sep. 2020

Apr. 2021 –Sep. 2021

YoY Change

Sales32,58834,669+6.4%

Operating
Income2,527

2,377△5.9%

Ordinary
Income2,810

2,255 △19.8%

Quarterly net
income attributableto owners of theparent company

1,983

1,743 △12.1%

Orders Received

41,864

53,130 +26.9%

OrdersOutstanding

35,945(Units in millions of Yen)

65,151 +81.3%

65,15153,13041,86432,58834,669Sales

35,945

Orders Received

Apr. 2021 - Sep. 2021

Orders Outstanding

Apr. 2022 - Sep. 2022

3Financial Results
Breakdown of Sales by Business Segment100%

13.8% 13.6%

9.4%

3.5%

4.6%

2.4%

4.5%

18.8% 18.7% 21.7% 20.2%

2.0%

15.8% 13.1%

22.7%

24.8% 30.1%

40.1%

26.6%

39.6%

33.5%

39.9%

45.1%

44.9%

31.5% 30.2%

41.9%
30.1%

30.3%

FY2014FY2015

37.6% 37.1%

42.4%

Change in Business Classifications

17.7%

3.1%

3.0%

36.9%

35.4% 36.1%

38.9%

38.4%

FY2019FY2021

FY20222Q

0%FY2013

Automobile

FY2016

Semiconductor

FY2017FY2018Home Appliances& others

FY2020

OthersOther Automatic Laborsaving Equipment※We changed our business classifications effective from the first quarter of the current fiscal year. For details, please refer to page 9 of this document.

4Financial Results
Factor Analysis on Changing Operating IncomeSales

Cost ofSales(Units in millions of Yen)

Selling,
General andAdministrativeExpenses

Cost to Sales
Ratio

OperatingIncome
Operating
Income Ratio

Apr. 2021 – Sep. 2021

32,588

26,102

80.1%

3,959

2,527

7.7%

Apr. 2022 – Sep. 2022

34,66927,756

80.1%

4,534

2,377

6.9%

+approx.410mil+ approx.10mil△ approx.
570milAffected byincreasein salesAffected bydecreasein cost ratio

Affected byincreasein SG&A

2.52bnApr. 2021 – Sep. 2021Operating Income△ approx. 150mil

2.37bnApr. 2022 – Sep. 2022
Operating Income
5Financial Results
Balance Sheet(Units in millions of Yen)

AssetsApr. 2021 –Mar. 2022

Apr. 2022 –Sep. 2022

YoY Change

Current Assets

67,00374,661＋7,657

Fixed Assets

32,482

33,841+1,35923,52624,256

+730

499

645

+146

Investment andother assets

8,456

8,939

＋483

Total Assets

99,485

108,503＋9,017

Tangible
Fixed Assets
Intangible
Fixed Assets

Apr. 2021 –Mar. 2022

Apr. 2022 –Sep. 2022

Current Liabilities

31,61237,939+6,327

Fixed Liabilities

12,935

13,576+640

Total Liabilities

44,54751,515＋6,968

Total Net Assets

54,93856,987+2,049

Capital Ratio

54.8%

52.1%

△2.7ptLiabilities

YoY Change

Net Assets

Main impact factors
AssetsLiabilities/Net Assets

Trade receivables＋3,507

Debt with interest＋5,691Inventories＋2,675Contract liabilities+1,639Cash and deposits＋1,411

Foreign currencytranslation adjustments+1,1546

Assumed Exchange Rate, etc.
Assumed Exchange Rate
(Units in Yen)

Assumed Exchange Rate

From Apr. 1, 2022 to Sep. 30, 2022(Actual Rate)

Exchange Rate（against USD）

116.76

From Oct. 1, 2022
(Applied Assumption Rate)
125.00(until orders received on October 31)
135.00(from orders received on November 1)

Transition of Our Stock Prices(Units in Yen)FY2022(Apr. 1, 2022 to Mar. 31, 2023)

FY2020(Apr. 1, 2020 toMar. 31, 2021)

FY2021(Apr. 1, 2021 toMar. 31, 2022)

High

8,850

7,690

4,870

4,875

4,700

Low

4,110

4,795

4,055

4,500

4,100

End of Period

6,860

5,400

4,745

4,570

4,120

Transition of OurStock Prices

July

AugustSeptemberPER／PBR／ROE
PER／PBR／ROE

FY2020(Apr. 1, 2020
to Mar. 31, 2021)

FY2021(Apr. 1, 2021
to Mar. 31, 2022)

FY2022(Apr. 1, 2022
to Sep. 30, 2022)

PER（x）

17.47

20.90

ー ※

PBR（x）

1.38

1.03

0.76

ROE（％）

8.32

5.06

ー ※

※PER and ROE will be disclosed at the time of the financial results.
※The figures are calculated after the application of accounting standards for revenue recognition, etc., effective from the fiscal year ended March 31, 2022.

7

Overview by Business Segment
Sales, Orders Received and Outstanding by Business Segment(Units in millions of Yen)

Business Segment+0.2%

Semiconductor

8,698

12,797+47.1%

Other Automatic Labor-saving
Equipment

9,617

7,860

△18.3%

971

680△29.9%

Total

32,58834,669+6.4%

Automobile

16,37818,598+13.6%

Semiconductor

15,06020,325+35.0%

9,465

13,132+38.7%

960

1,074+11.9%

Total

41,864

53,130+26.9%

Automobile

16,556

29,043+75.4%

Semiconductor

11,88424,188+103.5%

7,128

11,122+56.0%

375

798+112.3%35,94565,151+81.3%

Other Automatic Labor-savingEquipment

OthersOrdersOutstanding

YoY
Change13,330

OthersOrders
Received

FY2021(Apr. 2022- Sep. 2022)

13,302

Automobile

Sales

FY2020(Apr. 2021- Sep. 2021)

Other Automatic Labor-saving
Equipment

OthersTotal8

Overview by Business Segment
Classification Review of Business Segment
We have changed our business segment started from April 2022 as below:- Previous segment : Automobile, Semiconductor, Home Appliances and others, and others- Current segment: Automobile, Semiconductor, Other Automatic Labor-saving Equipment, and Others
We have also reclassified OLED and LCD, previously included in Semiconductor-related segment, to Other Automatic Labor-saving
Equipment segment. In conjunction with this change, we have changed our disclosure segments from geographic to business fields.

Automobile

Semiconductor

Other Automatic Laborsaving Equipment

Others

EDU, Motor, Battery,
IGBT・Inverter, Engine,Transmission, FCV, andothers

Wafer(EFEM, Sorter,Wafer robot, FOUPopener）,PLP, and others

Related to OLED and LCD,Logistics, Medical, Chemistry& Physics devices, Industrial
Robots, Home Appliances, FA
Component, and others

Solar power generation
business, and point businessand customer management
system business by affiliatedcompanies

Sales and Operating Income by Business Segment(Units in millions of Yen)

Automobile

Semiconductor

Other Automatic Laborsaving Equipment

Consolidation
elimination

OthersTotal

FY2021
2Q

FY20222Q

FY2021
2Q

FY20222Q

FY2021
2Q

FY20222Q

FY2021
2Q

FY20222Q

FY2021
2Q

FY20222Q

FY2021
2Q

FY2022
2Q

Sales

13,302

13,3308,698

12,797

9,617

7,860

976

681

△4△032,588

34,669OperatingIncome△73486

1,364

1,433

1,135464

98△9222,5272,377

Operating
IncomeRatio

△0.5%

3.6%

15.7％

11.2%

11.8%

5.9%

10.1%

△1.5%

--

7.8%

6.9%

9

Overview by Business Segment
Quarterly Progress Rate of Sales by Business Segment
Current Period(Units in millions of Yen)

Cumulative
Total Value

Projected
figures at theend of the
fiscal year
announced
on Nov. 11

Progression
Rate

1st Quarter(Apr. – Jun.)

2 nd Quarter(Jul. – Sep.)

16,73917,92934,66980,00043.3%

Automobile

6,298

7,031

13,33032,00041.7%

Semiconductor

6,430

6,366

12,79730,00042.7%

3,5364,323

7,860

16,000

49.1%

474

206

680

2,00034.0%

Sales

Other
AutomaticLabor-saving
Equipment
Others3 rd Quarter(Oct. – Dec.)

4 th Quarter(Jan. – Mar.)※We announced the revision of our full year earnings forecast on November 11, 2022. For details, please refer to page 14 of this document.

10Overview by Business Segment
Business Update on EV/Wafer transfer/Organic EL Businesses(Units in millions of Yen)

Amount of Orders Received
Apr. – Sep.
2021

Apr. – Sep.
2022

Electric Vehicle（EV）12,644

15,295Wafer transfer

8,618Organic EL

2,140

YoY
ChangeAmount of Sales
Apr. – Sep.
2021

Apr. – Sep.
2022

YoY
Change+21.0%

6,887

7,884

+14.5%

10,553+22.5%

5,645

6,752

+19.6%

2,650+23.8%

3,313

1,662

△49.8%●Electric Vehicle（EV）
The sales of EV business accounted for about 59% of its total automobile related sales. Compared to the same period last year,
orders received increased by approximately 2.652 billion yen and sales increased by approximately 997 million yen.
●Wafer transfer
The sales of wafer transfer business accounted for about 53% of its total semiconductor related sales. Compared to the sameperiod last year, orders received increased by approximately 1.935 billion yen and sales increased by approximately 1.106 billion
yen.
●Organic EL
The sales of organic EL business accounted for about 21% of its total other automatic labor-saving equipment sales. Compared tothe same period last year, orders received increased by approximately 510 million yen and sales decreased by approximately 1.651billion yen.

11

Topics – Receipt of Large-Scale POs / Receiving AwardsReceipt of Large-scale Purchase Orders for Electric Vehicle Related Equipment
As disclosed on July 25, 2022, Hirata received two large-scale orders for EV-related production equipment. The expected valueof the orders is over 10 billion yen for 2 lines of EDU(Electric Drive Unit) assembly facilities for electric vehicles. The sales of thisproject will be recognized in stages until the project completion by the percentage-of-completion method. Some of the businessperformance from this project is already factored into the forecast for this current fiscal year. The remainder is expected tocontribute to our fiscal performance in subsequent years.

Receiving Regional Special Award from JATCO
Hirata received FY2022 Regional Special Award from JATCO Ltd in July. Hirata Corporation and Hirata
Automated Machinery (Shanghai) Co., Ltd., one of our group companies, collaborated to remodel and launch
the new CVT line, which was delivered to the customer’s Mexico base in 2013, and was highly evaluated. Thisis the second consecutive year that Hirata has received awards, having previously received the Global SpecialAward last year.

Receiving Best Supplier Award 2022 from Canon TokkiHirata received Best Supplier Award 2022 from Canon Tokki Corporation in April. At the same time,
we also received a letter of appreciation for our response to a major project for organic EL production
facility. We participated in this project, which started in 2018, from the prototype stage. We were in
charge of the largest scope of production among the partner companies, and worked on the projectfrom production to on-site start-up support over a long period of time.

12Forecast for FYE March 2023
The Six-month Period Ended September 30, 2022（April 1, 2022 - September 30, 2022）13

Forecasts for FYE March 2023
(Units in millions of Yen)

Full Year Earnings Forecast
We announced the revision of our full year earnings forecast on November 11, 2022.

FY2021 Actual figures

FY2022 Forecast

FY2022 Forecast

announced on May 13, 2022

announced on November 11, 2022

Sales

67,08780,00080,000Automobile

26,10933,00032,000

Semiconductor

20,92828,00030,000

Other Automatic Laborsaving Equipment

18,002

16,00016,000

2,046

3,000

2,000

OthersOperating Income(margin)

3,856(5.7%)

3,000(3.8%)

5,000(6.3%)

Ordinary Income(margin)

4,258(6.3%)

2,900(3.6%)

5,000(6.3%)

Profit attributable toowners of the parentcompany (margin)

2,682(4.0%)

2,000(2.5%)

3,500(4.4%)※Net sales by business segment for FY2021 are shown after the change in business segmentation, which is effective from FY2022.

Revision of Full-Year Earnings Forecast➢Net sales are expected to be at the same level as the forecast at the beginning of the period. On the other hand, despite the impact ofsoaring raw material prices and logistics costs, each profit was revised upward to a level well above the initial forecast as a result of efforts toreduce cost of sales and to control SG&A expenses by reviewing each project in the administrative and overhead departments including R&Dexpenses that had been planned.

14Forecasts for FYE March 2023
Transition and Forecast of Dividends and Dividend Ratio per Share（Unit in Yen）

FY2018FY2019FY2020

FY2021

FY2022(Forecast)

Dividends per Share

125.00

40.00

65.00

65.00

85.00

Dividend Ratio(%)

28.4

23.8

16.6

25.2

25.2

Note: Dividend ratio is on a consolidated basis.

About Dividend Forecast
We fully consider profit return to our shareholders as one of the 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 our consolidated performance and businessdeployment.
Based on our dividend policy, we have revised our dividend forecast for the next fiscal year to 85 yen, taking into
consideration the profit level based on our earnings forecast and the dividend payout ratio of the previous fiscal year.
15Reference Data
The Six-month Period Ended September 30, 2022（April 1, 2022 - September 30, 2022）

16

Reference Data
Quarterly Trends of Sales by Business Unit

(Units in millions of Yen)

Automobile
Semiconductor
Home Appliances & others
Others555

13,957

3,387

414
1,798

15,826
532
2,425

6,685

7,870
5,621

4Q

FY202017,137

438
2,036

776
1,941

299
2,403

7,240

8,094

8,177

6,613

6,122

3Q

16,762

17,360

6,255

7,046

6,326

6,481

1Q

2Q

3Q

4Q

FY2021

Change in business classifications

18,498Other Automatic Laborsaving Equipment

16,739474

17,929
206
4,323

3,536

6,430

6,366

6,298

7,031

1Q

2Q
FY2022※The figures are calculated after the application of accounting standards for revenue recognition, etc., effective from the fiscal year ended March 31, 2022.
※The figures until the fiscal year ended March 2022 are presented under the former business classifications.

17

Reference Data
Quarterly Trends of Received Orders by Business Unit
Automobile
Semiconductor
Home Appliances & others
Others(Units in millions of Yen)

Other Automatic Laborsaving Equipment

29,05827,472279

324
1,847

20,894

450
2,482

510
2,983

489
2,874

514
2,395

17,771778
2,320

14,293
11,987

7,603

11,204

7,854

12,342

7,138
6,022

17,697

9,545
6,832

2,601

3Q
FY2020

9,267

795
3,864

7,681
12,644

11,830
6,767

4,243

4Q

Change in business classifications

20,97024,071

2,329

1Q

2Q

3Q

FY2021

4Q

1Q

2Q
FY2022※The figures are calculated after the application of accounting standards for revenue recognition, etc., effective from the fiscal year ended March 31, 2022.
※The figures until the fiscal year ended March 2022 are presented under the former business classifications.

18Reference Data
Quarterly Trends of Orders Outstanding by Business Unit
Automobile
Semiconductor
Home Appliances & others
Others(Units in millions of Yen)

Other Automatic Laborsaving Equipment

65,151
798

46,69031,675440
4,332

27,470
400
3,341

9,715
10,16831,813304
3,435
14,01635,945375
4,382
14,63036,579
378
4,761

404
4,206

18,304

18,87823,775

17,186

13,55914,057

16,556

4Q

1Q

2Q

3Q
FY2020Change in business classifications

54,022

11,122

725
6,178
24,18822,87324,24529,043

12,5593Q
FY2021

4Q

1Q

2Q

FY2022※The figures are calculated after the application of accounting standards for revenue recognition, etc., effective from the fiscal year ended March 31, 2022.
※The figures until the fiscal year ended March 2022 are presented under the former business classifications.

19

Reference Data
R&D, CAPEX, Depreciation and Amortization(Units in millions of Yen)

Apr. - Sep. 2021

Apr. - Sep. 2022

Ⅲ 参考資料 研
究開発
費・設備投資額・減価償却費

1,521

727
550728568

404

R&D Expenses

Capital ExpendituresDepreciation & Amortization
20

Reference Data
Account Receivables/Turnover Period

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

39,859 41,366 40,818
225

Q242,851 44,325

224

225

230

Q3

Q4

Q1

Q2

Q2

FY2022
Turnover Period

Debt with Interest/Debt Equity Ratio/Net Debt Equity Ratio(x)(Units in millions of Yen)

18,643 20,858

23,741
0.44

0.35

0.38

0.10

0.17

0.20

Q2

Q3

Q4

FY2021
Debt with Interest

27,6470.50
0.26

D/E Ratio

Q1474329,432(Days)

13,2429,3518,131217

FY2021
A/R Turnover Period(Units in millions of Yen)

Q3

FY2021Inventory

10,56754Q4

11,4746559

Q1

FY2022
Turnover Period

Q2

Total Shareholder’s Equity/Equity Ratio(%)(Units in millions of Yen)

54,478 55,003
54,23253,53556,570

0.52
56.2
0.27
Q2

FY2022
Net D/E Ratio

Q2

56.3

54.8

53.2

52.1

Q3

Q4

Q1

Q2

FY2021
Total Shareholder's Equity

FY2022Equity Ratio※ Accounts receivable turnover period and Inventory turnover period list its average number of each quarter.

21

Cautionary statement with this documentForecasts 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.

22