Hino Motors : ＜Summary＞ Consolidated Financial Results

Financial Results for the Fiscal Year Ended March 31, 2022

[Japanese GAAP] (Consolidated)

English translation from the original Japanese-language document

April 27, 2022

Name of Listed Company:Hino Motors, Ltd.

Stock Listing: Tokyo and NagoyaCode Number: 7205 URL:http://www.hino.co.jp/ Representative: Satoshi Ogiso, President, Member of the Board

Contact Point: Hiroshi Hashimoto, General Manager, Corporate Communications, Public Affairs Dept. Phone: [phone]

Scheduled Date of Annual Meeting of Shareholders:	June 23, 2022
Scheduled Date of Financial Statements Filing:	June 23, 2022
Scheduled Date of Dividend Payment Start:	-
Supplementary materials for Financial Results: Yes

Investor conference for Financial Results: Yes (For Mass Media and Analysts)

(Amounts are rounded down to the nearest one million yen)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021- March 31, 2022)

(1) Consolidated Financial Results

(% of change from previous year.)

Net sales

Operating income

Ordinary income

Profit attributable to owners of parent

Millions of yen
FY 2022	1,459,706	－	33,810	－	37,986	－	-84,732	－
FY 2021	1,498,442	-17.5	12,250	-77.7	12,261	-75.3	-7,489	－

Millions of yen

%Millions of yen

%Millions of yen

%

%

(Note) Comprehensive income FY 2022: ¥ -74,716 million (－%)FY 2021: ¥ 20,611 million (9.9%)

Profit per share	Diluted Profit per share	Return on equity	Ordinary income to total assets	Operating income to net sales
FY 2022 FY 2021	Yen -147.61 -13.05	Yen － －	% -16.7 -1.4	% 3.1 1.0	% 2.3 0.8

(Reference) Equity in earnings of affiliated companies: FY 2022: ¥186 million FY 2021: ¥ -3,460 million

(Note) The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29; March 31, 2020), etc. were applied from the beginning of the current consolidated accounting period. Accordingly, the figures for the fiscal year ending March 2022 reflect said accounting standard, etc., and increase/decrease rates from the previous year are not indicated.

(2) Consolidated Financial Position

Total assets	Net assets	Equity ratio	Net assets per share
FY 2022 FY 2021	Millions of yen 1,258,350 1,231,495	Millions of yen 516,007 604,872	% 36.4 45.0	Yen 798.17 965.54

(Reference) Equity capital: FY 2022: ¥ 458,169 million FY 2021: ¥ 554,245 million

(Note) The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29; March 31, 2020), etc. were applied from the beginning of the current consolidated accounting period. Accordingly, the figures for the fiscal year ending March 2022 reflect said accounting standard, etc.

(3) Consolidated Cash Flows

Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of year
FY 2022 FY 2021	Millions of yen 106,711 108,429	Millions of yen -62,181 -56,211	Millions of yen -39,147 -38,408	Millions of yen 62,662 54,651

2. Dividends

Dividends per share	Total dividends (annual)	Dividends payout ratio (consolidated)	Dividends on net assets (consolidated)
1Q	2Q	3Q	Year-end	Annual
FY 2021 FY 2022	Yen － －	Yen 5.00 10.00	Yen － －	Yen 7.00 0.00	Yen 12.00 10.00	Millions of Yen 6,889 5,741	% － －	% 1.3 1.1
FY 2023 (forecast)	－	－	－	－	－	－

(Note) Due to the uncertain business environment at present, the year-end and annual dividend forecasts for FY2023 have not been determined.

3. Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2023 (April 1, 2022 - March 31, 2023)

At this point, there are some uncertain factors that may affect our business results, so we will refrain from disclosing it in the financial results. Consolidated earnings forecast will be announced when it becomes reasonably predictable.

For details, please refer to "1. Operating Results Overview (4) Forecasts for the Fiscal Year Ending March 31,2023" on page 3 of the attachment.

*Notes

• (1) Changes in significant subsidiaries (changes of specified subsidiaries resulting in changes in scope of consolidation) during the current term: None

• (2) Changes in accounting policies, accounting estimates and restatements:

  1) Changes in accounting policies due to revisions of accounting standards:	Yes
  2) Changes in accounting policies due to reasons other than above 1):	None
  3) Changes in accounting estimates:	None
  4) Restatements:	None

  (Note)For details, please refer to "3 Consolidated Financial Statements and Major Notes (5) Notes to Consolidated Financial Statements (Revision to the Accounting Policy)" on page 13 of the attachment.

(3) Number of outstanding shares (common stock)

• 1) Number of outstanding shares (including treasury stock) at end of term

• 2) Number of treasury stock at end of term

• 3) Average number of shares

FY 2022	574,580,850 shares	FY 2021	574,580,850 shares
FY 2022	553,582 shares	FY 2021	552,655 shares
FY 2022	574,027,580 shares	FY 2021	574,028,861 shares

(Reference) Overview of Non-Consolidated Financial Results

1. Non-Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021 - March 31, 2022)

(1) Non-Consolidated Financial Results

(% of change from previous year.)

Net sales

Millions of yen
FY 2022	863,642	－	-3,003	－	11,611	－	-88,599	－
FY 2021	1,013,243	-20.6	-8,751	－	13,937	-57.1	2,827	-89.9

Millions of yen

%

Operating income	Ordinary income	Profit
Millions of yen	%	Millions of yen

%

Profit per share	Diluted Profit per share
FY 2022 FY 2021	Yen -154.31 4.93	Yen － －

(Note) The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29; March 31, 2020), etc. were applied from the beginning of the current accounting period. Accordingly, the figures for the fiscal year ending March 2022 reflect said accounting standard, etc., and increase/decrease rates from the previous year are not indicated.

(2) Non-Consolidated Financial Position

Total assets	Net assets	Equity ratio	Net assets per share
FY 2022 FY 2021	Millions of yen 780,850 809,768	Millions of yen 309,968 421,436	% 39.7 52.0	Yen 539.87 734.01

(Reference) Equity capital: FY 2022: ¥ 309,968 million FY 2021: ¥ 421,436 million

(Note) The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29; March 31, 2020), etc. were applied from the beginning of the current accounting period. Accordingly, the figures for the fiscal year ending March 2023 reflect said accounting standard, etc.

In FY2022, Net income (net loss) fell below the previous year's result. This is mainly because, although the operating loss improved from the previous year due to an increase in export volume, a domestic certification-related loss was recorded, and an income tax adjustment of 32,251 million yen was recorded in the non-consolidated financial statements due to reduce deferred tax assets. For details, please refer to "3 Consolidated Financial Statements and Major Notes (5) Notes to Consolidated Financial Statements (Additional Information)" on page 13 of the attachment.

* Summary of financial results is out of scope of audit by Certified Public Accountants or Audit companies.

* Statement regarding the proper use of financial forecasts and other remarks

Descriptions regarding the future, including the financial projections contained in this report, are based on certain assumptions currently available to the Company, which are, at the discretion of the Company, deemed reasonable, and the Company gives no guarantees that it will achieve these results. In addition, actual financial results may significantly vary due to various factors.