Presentation of Financial Results for Second Quarter of Fiscal Year 2023

October 31, 2023

Consolidated Financial Results for

Second Quarter of Fiscal Year 2023

Note 1: Numerical values appearing in this document have been rounded down to the nearest unit,

while ratios are shown in round figures.

Note 2: In this document, "1Q" signifies the cumulative 3-month period, "2Q" signifies the cumulative 6-month period, "3Q" signifies the cumulative 9-month period, and "full year" signifies the cumulative 12-month period.

Summary of Consolidated Financial Results for the Second Quarter of FY2023

(Million yen)

FY2022

FY2023

Change

2Q

2Q

(Rate of change)

Orders received

133,910

128,631

-5,278

(-3.9%)

Net sales

104,001

116,464

+12,462

(+12.0%)

Operating profit

3,206

4,431

+1,225

(+38.2%)

Ordinary profit

4,168

4,858

+690

(+16.6%)

Profit attributable to

2,871

2,974

+102

(+3.6%)

owners of parent

Outstanding orders

243,764

269,205

+25,441

(+10.4%)

Exchange rate

132.5 yen

140.3 yen

(USD 1)

Year-on-year change

Orders received

  • Orders received decreased overall as a result of decreases in the Industrial Machinery & Environmental Systems and Special Purpose Truck segments.

Net sales

  • Sales increased in all segments except the Others segment, and increased overall.
  • Highest 2Q on record.

Profits

  • Increase due to an increase in revenue.

© ShinMaywa Industries, Ltd.

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Consolidated Financial Results for the Second Quarter of FY2023, by Segment

(Billion yen)

Orders received

Net sales

Operating profit

Segment

FY2022

FY2023

Change

FY2022

FY2023

Change

FY2022

FY2023

Change

2Q

2Q

2Q

2Q

2Q

2Q

Special Purpose Truck

57.0

53.8

-3.2

43.7

48.2

+4.4

0.7

1.1

+0.3

Parking Systems

20.6

23.6

+2.9

18.3

18.4

+0

1.1

1.4

+0.2

Industrial Machinery &

24.1

16.4

-7.6

15.4

19.6

+4.2

1.2

1.7

+0.5

Environmental Systems

Fluid

13.8

14.3

+0.4

8.7

9.2

+0.5

0.3

0.3

+0

Aircraft

9.8

11.9

+2.0

11.5

14.7

+3.1

0.7

1.0

+0.3

Others

8.2

8.4

+0.1

6.3

6.1

-0.1

0.3

0.2

-0

Adjustments

－

－

－

－

－

－

-1.3

-1.5

-0.2

Total

133.9

128.6

-5.2

104.0

116.4

+12.4

3.2

4.4

+1.2

© ShinMaywa Industries, Ltd.

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Consolidated Balance Sheets / Consolidated Statements of Cash Flows

Consolidated Balance Sheets

(Million yen)

As of March

As of

September

Change

31, 2023

30, 2023

Cash and deposits

22,745

21,199

-1,546

Trade receivables

71,417

86,169

+14,751

Inventories

53,802

60,357

+6,555

Total fixed assets

45,191

45,198

+7

Other assets

33,749

35,722

+1,972

Total assets

226,907

248,647

+21,740

Trade payables

27,310

30,699

+3,388

Interest-bearing debt

52,417

70,635

+18,218

Other liabilities

46,739

43,556

-3,183

Total liabilities

126,467

144,891

+18,423

Equity

98,747

102,191

+3,444

Other net assets

1,692

1,564

-127

Total net assets

100,439

103,756

+3,316

Total liabilities and net assets

226,907

248,647

+21,740

Equity ratio

43.5%

41.1%

Consolidated Statements of Cash Flows

(Million yen)

FY2022

FY2023

Change

2Q

2Q

Cash flows from

-6,137

-14,676

-8,539

operating activities

Cash flows from

-4,074

-3,028

+1,046

investing activities

Free cash flows

-10,211

-17,704

-7,492

Cash flows from

-121

15,797

+15,919

financing activities

© ShinMaywa Industries, Ltd.

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Special Purpose Truck Segment

Trends in financial results (Billion yen)

FY2023-2Q results (year-on-year)

Orders received

FY2022

FY2023

114.1110.7

82.0

57.0 53.8

30.0 30.4

1Q

2Q

3Q Full year

(Forecast)

Operating profit

FY2022

FY2023

2.7

1.1

0.8

0.5

0.7

0.7

0.1

1Q

2Q

3Q Full year

(Forecast)

Net sales

FY2022 FY2023

104.5

91.3

66.4

43.748.2

22.6

20.9

1Q

2Q

3Q Full year

(Forecast)

Outstanding orders

FY2022 FY2023

113.4 111.398.4 105.7 111.9

91.9 96.2

1Q

2Q

3Q Full year

(Forecast)

Orders received

  • Increase in forestry machinery, etc.
  • Decrease in construction-related vehicles, environment-related vehicles, and trailers

Net sales

  • Increase in construction-related vehicles, logistics- related vehicles, and environment-related vehicles

Operating profit

  • Increase due to an increase in revenue (Including the impact of price revisions)

Trends in outstanding period

(month)*

FY2022

FY2023

1Q

2Q

3Q

Full

1Q

2Q

3Q

Full year

year

(Forecast)

11.9

12.6

13.0

13.9

12.7

12.8

12.9

  • Calculated by dividing the order backlog by sales per month (1Q to 3Q calculated based on the full-year earnings forecast)

© ShinMaywa Industries, Ltd.

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Parking Systems Segment

Trends in financial results (Billion yen)

Orders received

Net sales

FY2022

FY2023

FY2022

FY2023

49.3

43.5

38.6

39.9

28.4

23.6 29.0

18.3 18.4

20.6

9.910.2

8.5 8.2

1Q

2Q

3Q Full year

1Q

2Q

3Q Full year

(Forecast)

(Forecast)

Operating profit

Outstanding orders

FY2022

FY2023

FY2022

FY2023

3.1

FY2023-2Q results (year-on-year)

Orders received

Mechanical car parking systems:

Increase in service business

Aircraft passenger boarding bridges:

Increase in overseas market

Net sales

Mechanical car parking systems:

Decrease in products

Increase in service business

Aircraft passenger boarding bridges:

Decrease both in domestic and overseas markets

Operating profit

2.6

2.1

1.1 1.4

0.3 0.3

47.3

51.0

51.1

44.7

46.2

44.8

45.3

Mechanical car parking systems: Increase due to higher service business

Aircraft passenger boarding bridges: Decrease due to a decrease in revenue

1Q

2Q

3Q Full year

1Q

2Q

3Q Full year

(Forecast)

(Forecast)

© ShinMaywa Industries, Ltd.

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Industrial Machinery & Environmental Systems Segment

Trends in financial results (Billion yen)

FY2023-2Q results (year-on-year)

Orders received

Orders received

Net sales

Mechatronics products:

FY2022

FY2023

FY2022

FY2023

47.5

Decrease in vacuum products

48.852.2

Environment- related business:

33.4Increase in plant projects

32.7

24.6

Net sales

24.1

19.6

Mechatronics products:

16.512.0

16.4

6.0 8.0

15.4

Increase in vacuum products

Environment- related business:

Increase in plant projects

Operating profit

1Q

2Q

3Q

Full year

1Q

2Q

3Q

Full year

(Forecast)

(Forecast)

Mechatronics products:

Increase due to an increase in revenue

Operating profit

Outstanding orders

Environment- related business:

FY2022

FY2023

4.3

FY2022

FY2023

Increase due to an increase in revenue

48.2

Trends in orders received and net sales by sub-segment

(Billion yen)

47.2

36.940.8

43.5

FY2022

FY2023

2.9

38.5

36.2

Sub-segment

2.2

1Q

2Q

3Q

Full

1Q

2Q

3Q

Full year

1.7

year

(Forecast)

1.2

Mechatronics

Orders

12.5

16.3

19.7

34.1

4.1

6.9

25.8

received

0.5 0.5

products

Net sales

4.4

11.7

18.3

23.6

6.1

14.9

32.7

Environment-

Orders

3.9

7.7

13.0

14.6

7.8

9.5

26.4

1Q

2Q

3Q

Full year

1Q

2Q

3Q

Full year

received

related

(Forecast)

(Forecast)

business

Net sales

1.6

3.6

6.2

9.7

1.9

4.7

14.8

© ShinMaywa Industries, Ltd.

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Fluid segment

Trends in financial results (Billion yen)

Orders received

Net sales

FY2023-2Q results (year-on-year)

Orders received

FY2022 FY2023

25.124.4

20.8

13.814.3

5.7 6.1

1Q

2Q

3Q Full year

(Forecast)

Operating profit

FY2022

FY2023

3.9

3.3

1.1

0.3 0.3

-0-0

1Q

2Q

3Q

Full year

(Forecast)

FY2022 FY2023

24.4 24.0

14.3

8.7 9.2

3.6 3.9

1Q

2Q

3Q Full year

(Forecast)

Outstanding orders

FY2022 FY2023 11.512.1 12.8

8.3

9.1

7.4

7.0

1Q

2Q

3Q Full year

(Forecast)

  • Increase due to steady demand

Net sales

  • Increase in system products
  • Increase in service business

Operating profit

  • Increase due to an increase in revenue

© ShinMaywa Industries, Ltd.

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Aircraft Segment

Trends in financial results (Billion yen)

Orders received

Net sales

FY2022

FY2023

FY2022

FY2023

31.0

24.1 25.0

23.1

9.811.9 13.9

11.514.7 16.6

4.4 3.7

5.4 6.7

1Q

2Q

3Q Full year

1Q

2Q

3Q Full year

(Forecast)

(Forecast)

Operating profit

Outstanding orders

FY2022

FY2023

FY2022

FY2023

1.7

FY2023-2Q results (year-on-year)

Orders received

Orders from Ministry of Defense:

Increase in components for transport aircraft

Civilian demand:

Decrease in number of orders for G7500

Net sales

Sales to Ministry of Defense:

Increase in US-2 rescue amphibian manufacturing work Civilian demand:

Increase in production volume of 777/777X and 787 aircraft Increase in revenue as a result of yen depreciation

Operating profit

Increase due to higher sales and yen depreciation, etc.

1.2

1.3

41.140.140.540.3 39.4

43.1

Civilian demand-related production

Exchange rate sensitivity

1.0

37.1

volume

(In and after October)

(Unit)

0.7

0.3

FY2022-2Q

FY2023-2Q

Each one- yen of

depreciation against the U.S.

0.1

777/777X

14

17

dollar increases operating

787

11

15

profit by approximately 40

1Q

2Q

3Q Full year

1Q

2Q

3Q

Full year

million yen.

G7500

21

18

(Forecast)

(Forecast)

© ShinMaywa Industries, Ltd.

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ShinMaywa Industries Ltd. published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2023 03:28:09 UTC.