Shimadzu Corporation (TSE Prime Market: Securities code 7701)

1st Quarter FY 2023 (Ending March 2024) Results & Financial Position

Director, Member of the Board

Senior Managing Executive Officer, CFO

Akira Watanabe

August 4, 2023

Overview of Financial Results

01 Overview of Financial Results

02 Results by Business Segment

03 FY 2023 Earnings Forecast

Excellence in Science

&

Best for Our Customers

2

Summary of Results

• AMI: Analytical & Measuring Instruments, MED: Medical

Excellence in Science

Systems, IM: Industrial Machinery, AE: Aircraft Equipment

• AMI key models (LC: Liquid Chromatographs, MS: Mass

&

Spectrometer Systems, GC: Gas Chromatographs),

Best for Our Customers

TMP: Turbomolecular Pumps

1

Sales: Record high for the 3 consecutive year, driven by key business, AMI.

OP: Record high, driven by AMI centering on key models.

AMI: Record high sales driven by strong key models.

MED: Sales and OP decreased in Japan and North America as capital investment decreased due to deterioration in hospital management.

2 IM: Record high sales and OP achieved by increase in Hydraulic Pumps, profitability improvement, and other measures.

AE: Sales for both commercial aircraft and defense increased, led to a significant increase in sales and OP.

3 AMI key models YoY +18%, double digit growth achieved for the 2 consecutive Quarters.

Copyright © Shimadzu Corporation. All Rights Reserved. | FY2023 Q1 Results

3

Statement of Income

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&

Best for Our Customers

Net Sales, Operating Income, Ordinary Income, and Net Income all hit record high with overseas expansion. Amid strategic investment for R&D and HR, profitability improved, and Operating Margin improved.

Net Sales

Operating Income

Operating Margin

Net Income

YoY: +10.6 bn yen / +11%

YoY: +3.8 bn yen / +40%

YoY: +2.6pt

YoY: +2.4 bn yen / +28%

109.2 bn yen

13.2 bn yen

12.1%

11.1 bn yen

Units: Billions of yen

Q1 (Apr.-Jun.)

YoY

FY2022

FY2023

Changes

%

Net Sales

98.6

109.2

+10.6

+11%

Business

Operating Income

9.4

13.2

+3.8

+40%

Operating Margin

9.6%

12.1%

+2.6pt

Results

Ordinary Income

12.1

15.7

+3.6

+29%

Profit Attributable to Owners of Parent

8.7

11.1

+2.4

+28%

Exchange

Average Rate: USD (Yen)

129.63

137.40

+7.77

+6%

Rates

Average Rate: Euro (Yen)

138.17

149.50

+11.33

+8%

R&D Expenses

4.2

5.0

+0.7

CAPEX

5.8

5.7

-0.1

Depreciation

and

Amortization

4.5 bn yen

Exchange Rate

Effect

Net Sales:

  1. bn yen
    Operating Income:
  1. bn yen

FX effect on overseas inventory acted positively.

Copyright © Shimadzu Corporation. All Rights Reserved. | FY2023 Q1 Results

4

Analysis of YoY Change in Operating Income

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&

Best for Our Customers

Increased Profit on Higher Sales:

GP increase by higher sales in AMI and AE and rebound from last year's lockdown in China.

+2.8 BY

GP Margin Improved: Though material prices remained high, price revisions and product mix improvement covered up. +3.3 BY

Increased SG&A: Travel expenses and others increased.

1.8 BY (OP pull)

Increased Growth Investment: Investment for future growth such as HR and R&D increased.

3.1 BY (OP pull)

FY2022

Q1

Bn yen

Segment Mix

Product Mix

Increased

Other

Price

Improved/

Change

Others

Expense

Sales

Surging

Revision

Increased

Rebound

Increased

Increased

Material

HR

from last

R&D

Prices

Investment

year's

FX

lockdown

in China

Increased Profit

GP Margin

Increased

Investment for

on Higher Sales

Improved

Expense

Future Growth

FY2023

Q1

Copyright © Shimadzu Corporation. All Rights Reserved. | FY2023 Q1 Results

5

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Shimadzu Corporation published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 06:15:35 UTC.