KYB : Notice Concerning Differences between Full-Year Forecasts and Results for Fiscal Year Ended March 31, 2023

May 11, 2023

For Immediate Release

Company name: KYB Corporation

Representative: Masao Ono

Representative Director, President Executive Officer

Stock code: 7242 (Prime Market)

Contact: Tsuyoshi Matsuoka

Manager, Public Relations & Investor Relations Sect., Executive Office Dept.

(Tel: [phone])

Notice Concerning Differences between Full-Year Forecasts and Results for Fiscal Year Ended

March 31, 2023

KYB Corporation (the "Company") announces that its full-year consolidated financial forecasts for the fiscal year ended March 31, 2023 (April 1, 2022 through March 31, 2023), which were announced on February 8, 2023, differ from the financial results announced today. Details are as follows.

１．Differences between the full-year consolidated financial forecasts and the results for the fiscal year ended March 31, 2023 (April 1, 2022 through March 31, 2023)

(1) Differences

						Profit
	Net sales	Segment	Operating	Profit before	Profit for the	attributable		Basic earnings
	profit	profit	taxes	period	to owners of		per share
						the parent
Previously announced	Millions	Millions	Millions	Millions	Millions	Millions		Yen
of Yen	of Yen	of Yen	of Yen	of Yen	of Yen
forecasts (A)	761.88
442,000	26,500	29,700	28,900	21,700	20,400
(February 8, 2023)
Results (B)	431,205	25,500	32,547	31,770	28,660	27,210	1,028.40
Changes (B-A)	(10,795)	(1,000)	2,847	2,870	6,960	6,810
Rate of change (%)	(2.4)	(3.8)	9.6	9.9	32.1	33.4
(Reference)
Results for the	388,360	24,713	30,001	28,817	23,900	22,549	854.96
previous fiscal year
(Fiscal year ended
March 31, 2022)

(2) Reason for Differences

After the release of the previous forecast, operating profit and profit before taxes were better than expected, mainly due to the impact of the provision and the reversal of the provision for product warranties relating to seismic isolation/mitigation oil dampers. In addition, profit attributable to owners of parent surpassed the previously announced forecast by a wide margin, reflecting a decrease in taxable earnings due to the reversal of provision for product warranties at the parent company, a decrease in corporate income taxes due to the inclusion of previous years' provisions in deductible expenses at a local subsidiary in the United States, and an increase in deferred tax assets at a local subsidiary in Mexico.