KYB : FLASH REPORT (April 1, 2022 to March 31, 2023)

	FLASH REPORT
		May. 11, 2023
Company name (official)	: KYB Corporation	URL https://www.kyb.co.jp/english/
Stock listing	: Tokyo Stock Exchange (Prime Market)
Code number	: 7242
Address of head office	: 4-1,Hamamatsu-cho2-chome,Minato-ku, Tokyo 105-5128, Japan
Telephone	: [phone]
For further information, please contact : Tsuyoshi Matsuoka, Manager,
	Public Relations & Investor Relations Sect., Executive Office Dept.

The following statements are an English-translation of the original Japanese-language document for your convenience.

In the case that there is any discrepancy between Japanese and English versions, Japanese version is assumed to be correct.

(All amounts are rounded to the nearest million yen, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2023 ( from April 1, 2022 to March 31, 2023 )

(1) Consolidated operating results

(Percentages indicate the year-on-year changes)

	Net sales	Segment profit		Operating profit	Profit before taxes
Year ended	Millions of yen	%	Millions of yen	%		Millions of yen		%	Millions of yen		%
March 31, 2023	431,205	11.0	25,500	3.2		32,547		8.5	31,770		10.2
March 31, 2022	388,360	18.4	24,713	85.5		30,001		64.0	28,817		76.4
	Profit for the year	Profit attributable to		Comprehensive income	Basic earnings
	owners of the parent		for the year		per share
Year ended	Millions of yen	%	Millions of yen	%		Millions of yen		%	Yen
March 31, 2023	28,660	19.9	27,210	20.7		35,460		(0.4)	1,028.40
March 31, 2022	23,900	35.4	22,549	32.0		35,605		(5.0)	854.96
	Diluted earnings	Ratio of profit		Ratio of profit		Ratio of operating
	attributable to owners		before income taxes
	per share		profit to sales
	of the parent		to total assets
Year ended	Yen		%			%			%
March 31, 2023	1,028.06		16.2			7.2			7.5
March 31, 2022	－		17.1			6.7			7.7
Reference: Share of profit in investments accounted for using the equity method:
Fiscal year ended March 31, 2023:	¥1,145million	Fiscal year ended March 31, 2022:	¥953million

*Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from sales.

(2) Consolidated financial position

			Equity	Ratio of equity	Equity attributable to
			attributable to	attributable to
	Total assets	Total equity	owners of the parent per
	owners	owners of the parent
			share
			of the parent	to total assets
As of	Millions of yen	Millions of yen	Millions of yen	%	Yen
March 31, 2023	446,836	191,036	182,830	40.9	6,658.30
March 31, 2022	434,187	160,914	153,411	35.3	5,508.47

1

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and
	cash equivalents
	operating activities	investing activities	financing activities
	at the end of year
Year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen

	March 31, 2023	23,914			(13,517)				(20,180)					43,585
	March 31, 2022	24,247			(10,871)				(32,711)					52,118
	2. Cash dividends
					Annual cash dividends per share
		End of		End of	End of		Year-end			Total
		first quarter		second quarter	third quarter
	Year ended	Yen		Yen	Yen			Yen			Yen
	March 31, 2022	－			45.00			－		60.00			105.00
	March 31, 2023	－			70.00			－		130.00			200.00
	March 31, 2024 (forecast)	－			100.00			－		100.00			200.00
		Total cash					Ratio of dividends
			Payout ratio	to equity attributable to
		dividends
			(Consolidated)	owners of the parent
		(Annual)
						(consolidated)
		Millions of yen			%	%
	March 31, 2022	2,682			12.3			2.1
	March 31, 2023	5,110			19.4			3.3
	March 31, 2024 (forecast)				26.8
	*The above table shows	dividends on common	shares. Please	refer to "(Reference) Dividends for Class Shares" for
	information regarding dividends on class shares, which are unlisted and have different rights from common shares.
	3. Forecasts for the fiscal year ending March 31, 2024 ( April 1, 2023 to March 31, 2024 )
												(Percentages indicate the year-on-year changes)
		Net sales			Segment profit		Operating profit		Profit before taxes
		Millions of yen		%		Millions of yen		%		Millions of yen		%		Millions of yen	%
	Full year	450,000		4.4			28,000		9.8		29,800		(8.4)		27,900	(12.2)
		Profit for the period			Profit			Basic earnings
			attributable to
						per share
						owners of the parent
		Millions of yen		%		Millions of yen		%			Yen
	Full year	21,400		(25.3)			20,000		(26.5)		746.16

*Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from sales.

(Reference) Dividends for Class Shares

Dividends per share related to Class Shares with different rights from those of common shares are as follows.

			Annual cash dividends per share
Class A Shares
End of first		End of second	End of third	Year-end	Total
	quarter		quarter	quarter
Year ended	Yen		Yen	Yen	Yen	Yen
March 31, 2022		－	1,952,054.80	－	3,739,726.00	5,691,780.80
March 31, 2023		－	3,760,274.00	－	3,739,726.00	7,500,000.00
March 31, 2024 (Forecast)		－	3,750,000.00	－	3,750,000.00	7,500,000.00

• Number of Class A Shares issued are 125 shares. The Class A Shares were issued on 28 June 2021. Dividend whose reference date is attributed during FY2023 is planned to be 937 million yen.

2

Consolidated Statements of Financial Position

KYB Corporation and its Consolidated Subsidiaries

		(Unit: Millions of yen)
	As of March 31, 2022	As of March 31, 2023
Assets
Current assets:
Cash and cash equivalents	52,118	43,585
Trade and other receivables	108,823	120,247
Inventories	66,114	70,535
Other current financial assets	2,755	4,166
Other current assets	10,611	13,419
Total current assets	240,421	251,952
Non-current assets:
Property, plant and equipment	159,803	158,360
Goodwill	266	268
Intangible assets	3,549	3,218
Investments accounted for using the equity method	6,484	6,960
Other non-current financial assets	14,545	16,205
Other non-current assets	7,204	7,117
Deferred tax assets	1,916	2,755
Total non-current assets	193,766	194,884
Total assets	434,187	446,836

3

		(Unit: Millions of yen)
	As of March 31, 2022	As of March 31, 2023
Liabilities and equity
Current liabilities:
Trade and other payables	81,737	84,114
Borrowings	65,815	69,053
Income tax payables	3,168	2,545
Other current financial liabilities	30,495	30,360
Provisions	13,920	8,357
Other current liabilities	3,237	2,774
Total current liabilities	198,371	197,204
Non-current liabilities:
Bonds and borrowings	25,041	15,490
Liabilities for retirement benefits	4,629	4,653
Other non-current financial liabilities	27,830	24,859
Provisions	8,612	5,490
Other non-current liabilities	716	522
Deferred tax liabilities	8,074	7,582
Total non-current liabilities	74,902	58,596
Total liabilities	273,273	255,800
Equity
Equity attributable to owners of the parent:
Share capital	27,648	27,648
Capital surplus	38,351	38,371
Retained earnings	76,007	98,492
Treasury shares	(605)	(583)
Other components of equity	12,010	18,903
Total equity attributable to owners of the parent	153,411	182,830
Non-controlling interests	7,503	8,206
Total equity	160,914	191,036
Total liabilities and equity	434,187	446,836

4

Consolidated Statements of Income

KYB Corporation and its Consolidated Subsidiaries

		(Unit: Millions of yen)
	For the fiscal year	For the fiscal year
	ended March 31, 2022	ended March 31, 2023
	（Apr. 1, 2021 through Mar. 31, 2022)	（Apr. 1, 2022 through Mar. 31, 2023)
Net sales	388,360	431,205
Cost of sales	309,601	345,957
Gross profit	78,759	85,248
Selling, general and administrative expenses	54,046	59,748
Equity in profit of affiliates	953	1,145
Other income	3,024	3,435
Other expenses	(1,311)	(2,468)
Operating profit	30,001	32,547
Finance income	1,155	924
Finance costs	2,340	1,701
Profit before taxes	28,817	31,770
Income tax expenses	4,917	3,110
Profit for the year	23,900	28,660
Profit attributable to:
Owners of the parent	22,549	27,210
Non-controlling interests	1,351	1,450
Profit for the year	23,900	28,660
Earnings per share
Basic earnings per share (in yen)	854.96	1,028.40
Diluted earnings per share (in yen)	-	1,028.06

5