This document is a summary translation of the Japanese language original version. In the event of any discrepancy, errors and/or omissions, the Japanese language version shall prevail.

August 7, 2023

Highlights of Consolidated Results for the Three Months and the First Quarter of Fiscal Year ending March 31, 2024

Millions of yen (except for per share amounts)

Three months ended

Three months ended

Change

Jun. 30, 2022

Jun. 30, 2023

Revenue

199,734

200,407

0.3%

Business segment profit

24,788

23,134

-6.7%

Operating profit

25,018

22,025

-12.0%

Profit before income taxes

25,297

22,652

-10.5%

Profit for the period

17,393

16,252

-6.6%

Profit for the period attributable to owners of the parent company

17,389

16,243

-6.6%

Comprehensive income for the period

48,555

54,371

12.0%

Basic earnings per share for the period (yen)

67.60

63.55

Diluted earnings per share for the period (yen)

67.40

63.38

(Note) Business segment profit is calculated by subtracting cost of sales and selling, general and administrative expenses from revenue.

As of Mar. 31, 2023

As of Jun. 30, 2023

Total assets

850,486

873,281

Total equity

596,680

642,350

Equity attributable to owners of the parent company

596,619

642,280

Equity attributable to owners of the parent company ratio

70.2

%

73.5

%

Equity attributable to owners of the parent company per share (yen)

2,334.34

2,512.90

Highlights of Consolidated Forecast for Fiscal Year ending March 31, 2024

Millions of yen (except for per share amounts)

[Forecast]

Year ended Mar. 31, 2023

Year ended Mar. 31, 2024

Change

Revenue

815,269

840,000

3.0%

Business segment profit

60,404

70,000

15.9%

Operating profit

55,378

70,000

26.4%

Profit before income taxes

56,953

70,000

22.9%

Profit for the period

39,086

50,000

27.9%

Profit for the period attributable to owners of the parent company

39,082

50,000

27.9%

Basic earnings per share for the period (yen)

152.67

195.32

Dividends per common share (yen)

68.00

68.00

(Note) Business segment profit is calculated by subtracting cost of sales and selling, general and administrative expenses from revenue.

- 1 -

Notes:

  1. The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS).
  2. Amounts less than 1 million yen have been rounded down.
  3. Operating results for the three months ended Jun. 30, 2023 are based on the following currency exchange rates: Actual average rates for the year ended Jun. 30, 2023: US$=138.11 yen, EURO=150.35 yen
    Forecasts for the year ending Mar. 31, 2024 are based on the following currency exchange rates: Assumed average rates for the year ending Mar. 31, 2024: US$=135.00 yen, EURO=140.00 yen
  4. Number of shares outstanding (including treasury stock): 257,755 thousands as of Mar. 31, 2023, 257,755 thousands as of Jun. 30, 2023
    Number of treasury stock outstanding: 2,172 thousands as of Mar. 31, 2023, 2,163 thousands as of Jun. 30, 2023 Number of weighted average shares:
    257,235 thousands during the three months ended Jun. 30, 2022, 255,589 thousands during the three months ended Jun. 30, 2023 (Note) The Company has introduced a Performance Share using a BIP trust for directors, and the Company's shares held by the trust
    (258,000 shares for the first quarter of the year ended Mar. 31, 2023, 255,739 shares for the first quarter of the year ended Mar. 31, 2024) are included in treasury stock.

- 2 -

Consolidated Statement of Financial Position

Millions of yen

FY2022

FY2023

(As of March 31,

(As of Jun. 30,

2023)

2023)

Assets

Current assets

Cash and cash equivalents

119,042

109,200

Trade and other receivables

123,260

122,078

Other financial assets

10,867

14,373

Inventories

222,133

233,822

Other current assets

36,441

36,797

Total current assets

511,746

516,272

Non-current assets

Property, plant and equipment

128,496

131,933

Right-of-use assets

25,002

26,564

Investment property

6,217

6,137

Goodwill and intangible assets

114,220

123,210

Investments accounted for using the equity

2,006

1,980

method

Other financial assets

29,497

31,764

Deferred tax assets

20,818

21,663

Other non-current assets

12,480

13,753

Total non-current assets

338,740

357,009

Total assets

850,486

873,281

- 3 -

Millions of yen

FY2022

FY2023

(As of March 31,

(As of Jun. 30,

2023)

2023)

Liabilities and Equity

Liabilities

Current liabilities

Trade and other payables

82,755

69,619

Bonds and borrowings

36,823

22,564

Other financial liabilities

9,387

12,113

Income tax payables

5,472

6,334

Provisions

4,031

4,029

Contract liabilities

6,556

6,867

Other current liabilities

56,249

53,620

Total current liabilities

201,276

175,149

Non-current liabilities

Bonds and borrowings

600

600

Other financial liabilities

23,105

24,189

Retirement benefits liabilities

14,997

16,209

Provisions

3,593

3,861

Deferred tax liabilities

7,055

7,590

Contract liabilities

2,049

2,160

Other non-current liabilities

1,127

1,169

Total non-current liabilities

52,529

55,781

Total liabilities

253,806

230,930

Equity

Capital stock

19,209

19,209

Capital surplus

17,849

17,841

Retained earnings

568,055

576,766

Treasury stock

(3,533)

(3,513)

Other components of equity

(4,962)

31,976

Equity attributable to owners of the parent

596,619

642,280

company

Non-controlling interests

60

70

Total equity

596,680

642,350

Total equity and liabilities

850,486

873,281

- 4 -

Consolidated Statement of Income

Millions of yen

FY2022

FY2023

(Three months

(Three months

ended

ended

Jun. 30, 2022)

Jun. 30, 2023)

Revenue

199,734

200,407

Cost of sales

(115,626)

(112,494)

Gross profit

84,108

87,913

Selling, general and administrative expenses

(59,319)

(64,778)

Other income

1,207

1,534

Other expenses

(977)

(2,643)

Operating profit

25,018

22,025

Finance income

3,401

2,173

Finance expenses

(3,174)

(1,616)

Share of profit/(loss) of investments accounted for

53

69

using the equity method

Profit before income taxes

25,297

22,652

Income tax expenses

(7,904)

(6,399)

profit for the period

17,393

16,252

profit for the period attributable to:

Owners of the parent company

17,389

16,243

Non-controlling interests

4

9

profit for the period

17,393

16,252

Yen

FY2022

FY2023

(Three months

(Three months

ended

ended

Jun. 30, 2022)

Jun. 30, 2023)

Earnings per share

Basic earnings per share

67.60

63.55

Diluted earnings per share

67.40

63.38

- 5 -

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Brother Industries Ltd. published this content on 07 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2023 06:08:32 UTC.