Slide 1: Financial Information
Financial Information HORIBA, Ltd. February, 2023 © 2023 HORIBA, Ltd. All rights reserved. 1
Slide 2: Contents
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
Slide 3: Contents
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
Slide 4: Review of 2022
Review of 2022 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 External procurement difficulties Events Progress in global structural reform of the s
Slide 5: 2022 Results
2022 Results (Billions of Yen) 2021 2022 vs Forecasts vs Results Results Forecasts (as of Nov. 11) 2021 (as of Nov. 11) Sales 224.3 265.0 270.1 +45.8 +5.1 Operating profit 32.0 43.0 45.8 +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 attributable
Slide 6: 2022 Results by Segment
2022 Results by Segment (Billions of Yen) Sales Operating profit 2021 2022 2021 2022 vs vs vs vs Results Forecasts Results Results Forecasts Results (as of Nov. 11) 2021 Forecasts (as of Nov. 11) 2021 Forecasts (as of Nov. 11) (as of Nov. 11) Auto 61.2 66.0 67.5 +6.2 +1.5 -0.0 -1.5 -0.6 -0.6 +0.8 P&
Slide 7: 2022 Results (B/S, CF)
2022 Results (B/S, CF) Total assets were ¥416.7bn, up ¥45.1bn, by increasing B/S inventory Equity ratio: 57.6% (compared to the end of Dec. 2021) Operating CF: Cash in ¥33.9bn due to operating profit Free CF: + ¥23.2bn Investing CF: Cash out ¥10.7bn due to CF capital investments Financial CF: C
Slide 8: Contents
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
Slide 9: HORIBA's Assumptions Regarding Market Environment
HORIBA’s Assumptions Regarding Market Environment Expect a recovery in economic activities in the “with or post-COVID-19” era. General Remain concerned about the impact of global inflation and the complicated international situation. Anticipate accelerated use of hydrogen energy/batteries and digita
Slide 10: 2023 Forecasts
2023 Forecasts (Billions of Yen) 2021 2022 2023 vs Results Results Forecasts 2022 Sales 224.3 270.1 290.0 +19.8 Operating Profit 32.0 45.8 46.0 +0.1 O.P.% 14.3% 17.0% 15.9% -1.1p Ordinary Profit 32.0 46.8 45.5 -1.3 Net Income attributable to Owners of Parent 21.3 34.0 35.5 +1.4 Net profit per share
Slide 11: 2023 Forecasts by Segment
2023 Forecasts by Segment (Billions of Yen) Sales Operating profit 2022 2023 2022 2023 vs vs Results Forecasts 2022 Results Forecasts 2022 Auto 67.5 79.0 +11.4 -0.6 0.5 +1.1 P&E 22.5 25.0 +2.4 2.1 2.5 +0.3 Medical 29.7 31.0 +1.2 -0.0 0.5 +0.5 Semi 114.0 115.0 +0.9 42.0 38.5 -3.5 Scientific 36.2 40.0
Slide 12: Contents
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
Slide 13: Automotive: 2022 Results and 2023 Forecasts
Automotive 2022 Results and 2023 Forecasts (Billions of yen) 2023 Full Year Forecasts 2022 Results *1 Mechatronics *2 Engineering Consultancy & Testing Medium- to long-term outlook *Announced in November 2022 Booking was strong, but the timing of shipments and acceptance 【EMS】 inspections was dela
Slide 14: Process & Environment: 2022 Results and 2023 Forecasts
Process & Environment 2022 Results and 2023 Forecasts (Billions of yen) 2023 Full Year Forecasts 2022 Results Medium- to long-term outlook *1 Total Organic Carbon *2 Carbon dioxide Capture, Utilization and Storage 【Water quality monitoring】 Expect an increase in demand for process measurement in t
Slide 15: Medical-Diagnosis: 2022 Results and 2023 Forecasts
Medical- Diagnosis 2022 Results and 2023 Forecasts (Billions of yen) 2023 Full Year Forecasts 2022 Results Medium- to long-term outlook Sales of test reagents remained sluggish due to the lingering impact Expect a recovery in test reagent sales in the future, as of COVID-19. equipment sales are
Slide 16: Semiconductor: 2022 Results and 2023 Forecasts
Semiconductor 2022 Results and 2023 Forecasts (Billions of yen) 2023 Full Year Forecasts 2022 Results Medium- to long-term outlook Semiconductor manufacturers further boosted capital Capital investment by semiconductor manufacturers will investment. Significant increase in sales to semiconductor
Slide 17: Scientific: 2022 Results and 2023 Forecasts
Scientific 2022 Results and 2023 Forecasts (Billions of yen) 2023 Full Year Forecasts 2022 Results Medium- to long-term outlook Strong demand for and increased sales of optical Expand the industrial process monitoring business in components for semiconductor production equipment parallel with sa
Slide 18: Contents
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
Slide 19: Various activities for target markets - final year of MLMAP2023
Various activities for target markets - final year of MLMAP2023 Mid-Long Term Management Plan ”MLMAP2023” Market Oriented Business To develop analysis and measurement solutions, utilizing HORIBA’s core technologies, in the leading three business fields of the mega trend Materials & Energy & Environm
Slide 20: [Energy & Environment] Hydrogen Business
[Energy & Environment] Hydrogen Business The entire HORIBA Group is involved in expansion of hydrogen business Started mass production of water The Evaluator series is comprised of The HORIBA Group electrolyzers that produce electrolyzer development evaluation responds to growing hydrogen, in Europe
Slide 21: [Energy & Environment] CO2 Fixation and Capture
[Energy & Environment] CO2 Fixation and Capture Contributing to the realization of a carbon neutral society Carbon recycling technology (fixation and capture) Monitor various exhaust gases Monitor The chemical absorption Monitor Monitor amine solution to exhaust amine generated in processes usin
Slide 22: [Energy & Environment] Mobility Solution Business #1
[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 Certification Local Benchmark Customers of HORIBA MIRA Engineering and
Slide 23: [Energy & Environment] Mobility Solution Business #2
[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 in b
Slide 24: [Energy & Environment] Conventional Energy
[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 work at labs, in response to their demand for new veh
Slide 25: [Bio & Healthcare] Products for Pharmaceutical Manufacturing Process
[Bio & Healthcare] Products for Pharmaceutical Manufacturing Process Expanding business in the pharmaceutical industry Pharmaceutical business Provide high-end analyzers and measuring devises such as Raman spectrometers process HORIBA’s products enable real-time monitoring and contribute to Pharma c
Slide 26: [Materials & Semiconductor] Cross-segment Activities to Expand Opportunities
[Materials & Semiconductor] Cross-segment Activities to Expand Opportunities From R&D to manufacturing: Use of HORIBA’s analyzers and measuring devises Semicon- Manufacturing ductor Key components and devices in Facility equipment semiconductor manufacturing manufacturing Clean room Manufac- turing
Slide 27: [Materials & Semiconductors] MFC in Various Fields
[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
Slide 28: Full-scale operation of HORIBA C-CUBE, a new base in China
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 to after-s
Slide 29: Sale of part of MIRA UGV's shares
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
Slide 30: Contents
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
Slide 31: Shareholder Return
Shareholder Return Dividend payment + Share buyback = 30% of Consolidated net profit to be targeted Basic policy 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] 2
Slide 32: Contents
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
Slide 33: Operating Profit Analysis (vs 2021)
Operating Profit Analysis (vs 2021) (Billions of yen) 2021 2022 Jan. – Dec. Jan. – Dec. Exchange Exchange Increase Increase Increase Increase impact for impact for R&D Other 32.04 Sales COGS Gross Profit Expense Expense Expense 45.84 ＋23.32 -14.53 +14.65 -3.99 -1.14 -4.51 Increase Exchange Increase
Slide 34: Consolidated Cash Flows
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 +2
Slide 35: Cash Balance
Cash Balance (Consolidated basis, each end of period) (Billions of Yen) Total Loan Balance Bond Cash redemption 80.1 139.8 ￥15.0bn 77.0 Cash （2026） 70.3 Cash 135.0 67.2 ￥15.0bn （2029） 114.5 Bonds Bonds Cash 30.0 Borrowed from 30.0 Bonds 95.6 Bonds Banks 45.0 30.0 Long ¥20.0bn Long 25.0 (redemption 2
Slide 36: Exchange Rate Trend / Forecasts / Impacts
Exchange Rate Trend / Forecasts / Impacts 2021 2022 2023 vs 2022 Annual Annual Forecasts (Annual) USD 109.90 131.62 130 -1.62 EUR 129.91 138.14 140 +1.86 Exchange rate impact Exchange rate impact for 2022 for 2023 Forecasts (vs 2021) 1 yen impact of Sales and O.P. Increase sales +22.49 (Weak yen) In
Slide 37: Capital Investment, Depreciation, R&D
Capital Investment, Depreciation, R&D (Billions of Yen) 2021 2022 2023 Previous vs vs vs Actual Forecasts Actual Previous Forecasts 2021 2022 (as of Nov. 11) Forecasts Capex 12.4 13.5 12.5 +0.0 -0.9 14.0 +1.4 Depreciation and amortization 10.4 11.0 11.3 +0.9 +0.3 12.0 +0.6 R&D expenses 16.7 19.0 18.
Slide 38: Contents
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
Slide 39: Five Business Segments & Major Products
Five Business Segments & Major Products Figures are the sales composition ratio for FY 2022 Process & Automotive Medical Semiconductor Scientific Environmental （25%） （11%） （42%） （14%） （8%） Emission Measurement Automatic Blood Cell Stack Gas Analyzers Mass Flow Controllers Raman Imaging Device Syste
Slide 40: Global Network
Global Network Sales by region (as of Dec 2022) ● : Major business hubs Americas Europe Asia Japan 16% 20% 37% 27% Employee headcount by region (as of Dec 2022) Americas Europe Asia Japan 12% 32% 20% 36% Number of companies （as of Dec 31, 2022) 49 Overseas sales ratio （as of Dec 2022) 73% Foreign em
Slide 41: Achieving Sustainable Growth through M&A
Achieving Sustainable Growth through M&A Major M&As 1996 1997 2005 2015 2018 ABX （France） Jobin Yvon SCHENCK DTS MIRA （UK） FuelCon 【Medical】 （France） （Germany） 【Automotive】 （Germany） 【Scientific】 【Automotive】 【Automotive】 Trends in consolidated sales 270.1 billion yen About nine-fold growth in corpo
Slide 42: HORIBA's Business Domain
HORIBA’s Business Domain Space Planetary probe Development Auroral analysis Agriculture New Material IT Infrastructure Health and Security Plant factory Development Diagnostic equipment IoT, Cloud, 5G Soil analysis Secondary battery New drug development Automation informatics Food safety Biomaterial
Slide 43: © 2023 HORIBA, Ltd. All rights reserved.
© 2023 HORIBA, Ltd. All rights reserved.