Summary of Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2023 (U.S. GAAP)

July 26, 2022

OMRON Corporation (6645)

Exchanges Listed:

URL:

Representative:

Contact:

Telephone:

Filing of Quarterly Securities Report (Shihanki hokokusho) (scheduled):

Start of Distribution of Dividends (scheduled):

Preparation of Supplementary Materials for the Quarterly Financial Results:

Holding of Presentation of Quarterly Financial Results:

Tokyo

https://www.omron.com/global/en/

Yoshihito Yamada, President and CEO

Toyoharu Tamoi, Executive Officer, Senior General Manager,

Global Finance and Accounting HQ

+81-75-344-7070

August 9, 2022

－

Yes

Yes (Financial results presentation held via online streaming and teleconference for investors on July 26)

Note: This document has been translated from the Japanese original as a guide to non-Japanese investors and contains forward- looking statements that are based on managements' estimates, assumptions and projections at the time of publication. A number of factors could cause actual results to differ materially from expectations.

Note: Figures are rounded to the nearest million yen.

1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2023 (April 1, 2022 - June 30, 2022)

(1) Sales and Income (cumulative)

(Percentages represent changes compared with the same period of the previous fiscal year.)

Net sales

Operating income

Income before income taxes

Net income attributable

to shareholders

Three months ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

June 30, 2022

184,386

(2.0)

11,935

(53.8)

11,698

(56.0)

7,973

(60.5)

June 30, 2021

188,193

28.5

25,837

107.3

26,601

100.3

20,178

108.2

Note: Comprehensive income:

Three months ended June 30, 2022:

JPY39,885 million (55.0% change);

Three months ended June 30, 2021:

JPY25,739 million (169.7% change)

Net income per share

Net income per share

attributable to

attributable to

shareholders, basic

shareholders, diluted

Three months ended

Yen

Yen

June 30, 2022

39.98

－

June 30, 2021

100.04

－

(2) Consolidated Financial Position

Total assets

Net assets

Shareholders' equity

Shareholders'

equity ratio

Million yen

Million yen

Million yen

%

June 30, 2022

933,561

708,210

705,694

75.6

March 31, 2022

930,629

667,971

665,227

71.5

2. Dividends

Dividends per share

First quarter-end

First half-end

Third quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

－

46.00

－

46.00

92.00

March 31, 2022

Fiscal year ending

－

March 31, 2023

Fiscal year ending

March 31, 2023

－

－

－

98.00

(projected)

Note: Revisions since the most recently announced dividend forecast: No

3. Projected Results for the Year Ending March 31, 2023 (April 1, 2022 - March 31, 2023)

(Percentages represent changes compared with the same period of the previous fiscal year.)

Income before

Net income

Net income per share

Net sales

Operating income

attributable to

attributable to

income taxes

shareholders

shareholders, basic

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Full-year

850,000

11.4

93,000

4.1

89,000

2.6

63,000

2.6

316.28

Note: Revisions since the most recently announced performance forecast: No

*Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries due to changes in the scope of consolidation): No

New: - company (company name) Excluded: - company (company name)

  1. Application of simplified accounting methods and/or special accounting methods: No
  2. Changes in accounting policy
  1. Changes in accounting policy accompanying revision of accounting standards, etc.: No
  2. Changes in accounting policy other than (a) above: No
  1. Number of shares issued and outstanding

[1]

Number of shares outstanding at period-

June 30, 2022

206,244,872

Year ended

206,244,872

end (including treasury stock)

March 31, 2022

[2]

Treasury stock at period-end

June 30, 2022

6,543,738

Year ended

7,053,647

March 31, 2022

[3]

Average number of shares during the

Three months ended

199,444,646

Three months ended

201,711,158

period (quarterly cumulative)

June 30, 2022

June 30, 2021

Note: As of the end of the consolidated first three months of the fiscal year ending March 31, 2023, 600,208 shares of OMRON stock held for Board Incentive Plan and Employee Stock Ownership Plan are included in period-end treasury stock. The average number of shares during the period includes treasury stock deducted in the calculation of net income per share attributable to OMRON shareholders.

*Quarterly summaries of consolidated financial results are not subject to review by certified public accountants or audit corporations.

*Commentary Regarding Appropriate Use of Projections of Results and Other Matters

  1. Projections of results and future developments are based on information available to the Company at the time of writing, as well as certain assumptions judged by the Company to be reasonable. Various risks, uncertainties and other factors could cause actual results to differ materially from these projections.
    For the assumptions that form the basis of the projected results and appropriate use, see 1. Qualitative Information on Quarterly Financial Results (2) Description of Information on Outlook, Including Consolidated Performance Forecast on P.5.
  2. The Company applies the single step method for presentation of its Consolidated Financial Statements based on U.S. GAAP. However, to facilitate comparison with other companies, operating income on the Consolidated Statements of Operations is presented by subtracting selling, general and administrative expenses and research and development expenses from gross profit.
  3. The Company plans to hold a presentation for investors and information session via online streaming and teleconference on Tuesday, July 26, 2022.

The following abbreviations of business segment names are used in the attached materials.

IAB: Industrial Automation Business

HCB: Healthcare Business

SSB: Social Systems, Solutions and Service Business

DMB: Devices & Module Solutions Business

*In connection with the start of our long-term vision beginning April 2022, the name of EMC: Electronic and Mechanical Components Business changed to DMB: Device & Module Solutions Business beginning with the fiscal year ending March 31, 2023. The new segments are used in these financial statements for consistency.

Table of Contents

1. Qualitative Information on Quarterly Financial Results……………………………………………………………………

P.2

(1)

Description of Results of Operations……………………………………………………………………………………

P.2

(2)

Description of Information on Outlook, Including Consolidated Performance Forecast ………………………………

P.5

(3)

Establishment of Treasury Stock Acquisition Limit……………………………………………………………………… P.6

2. Quarterly Consolidated Financial Statements and Notes ……………………………………………………………………

P.7

(1)

Quarterly Consolidated Balance Sheets…………………………………………………………………………………

P.7

(2)

Quarterly Consolidated Statements of Operations and Quarterly Consolidated Statements of Comprehensive Income… P.9

(3) Consolidated Statements of Cash Flows…………………………………………………………………………………

P.11

(4) Notes Regarding Consolidated Financial Statements……………………………………………………………………

P.12

(Notes Regarding Assumptions of Going Concern)……………………………………………………………………

P.12

(Notes in the Event of Significant Changes in Shareholders' Equity)…………………………………………………

P.12

(Notes Regarding Significant Subsequent Events)……………………………………………………………………… P.12

(Segment Information)…………………………………………………………………………………………………

P.13

- 1 -

1. Qualitative Information on Quarterly Financial Results

  1. Description of Results of Operations

General Overview

Despite expanding capital investment demand in the manufacturing industry globally, the business environment surrounding the OMRON Group during the first quarter of the current fiscal year (April through June 2022) deteriorated temporarily due to the lockdowns in Shanghai, tight supply of parts and components, and soaring raw materials prices.

In the Industrial Automation Business, in particular, we accurately captured capital investment demand from the digital and automobile industries by demonstrating our ability to provide solutions. However, net sales and operating income were lower year on year due to the temporary suspension of operations at our main plant caused by the Shanghai lockdowns. Our Healthcare Business experienced high demand in the area of prevention. Despite this demand, net sales and operating income fell year on year due to component supply constraints and the impact of lockdowns in Shanghai and other major cities in China.

As a result, sales for the first quarter decreased year on year. Gross profit margin declined year on year, despite the results of selling price optimization implemented in the previous fiscal year. The decline in profit margin was mainly due to soaring prices for parts and raw materials, as well as high logistics costs. At the same time, we continued to be active in investing for future growth to achieve the goals of our medium-term management plan (SF 1st Stage). As a result of the preceding, operating income decreased significantly year on year.

Consolidated results for the first quarter were as follows.

(Billions of yen, except exchange rate data and percentages)

Three months ended

Three months ended

Change

June 30, 2021

June 30, 2022

Net sales

188.2

184.4

-2.0%

Gross profit

87.4

80.4

-7.9%

[% of net sales]

[46.4%]

[43.6%]

[-2.8%pt]

Operating income

25.8

11.9

-53.8%

[% of net sales]

[13.7%]

[6.5%]

[-7.3%pt]

Income before income taxes

26.6

11.7

-56.0%

Net income attributable to

20.2

8.0

-60.5%

OMRON shareholders

Average USD exchange rate (Yen)

109.8

126.5

+16.7

Average EUR exchange rate (Yen)

131.7

136.8

+5.1

Average CNY exchange rate (Yen)

17.0

19.3

+2.4

- 2 -

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Omron Corporation published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 06:18:13 UTC.