Shimadzu : 1st Half Results & Financial Position for the Fiscal Year Ended March 2022

November 8, 2021

1st Half Results & Financial Position for the Fiscal Year Ended March 2022

Teruhisa Ueda

President & CEO

Shimadzu Corporation

1. Overview of FY 2021 1H Financial Position
2. FY 2021 1H Results by Business Segment
3. FY 2021 Forecast
4. Topics: Key Measures

1st Half Results & Financial Position for the Fiscal Year Ended March 2022	2

Summary of First-Half Results

Increased sales and income.

Both sales and income exceeded

previous records.

Sales increased

in and outside Japan. Double-digit increase

outside Japan.

Strong sales of AMI Division key

models.

IM Division TMP sales continued to

increase.

Increased AM business sales ratio.

Promoting infectious disease

countermeasure projects phase II

• • AMI: Analytical & Measuring Instruments, MED: Medical Systems, IM: Industrial Machinery, AE: Aircraft Equipment
• Achieved record first-half net sales, operating income, ordinary income, and net income.
• First-halfnet sales exceeded 200.0 billion yen for the first time and first-half operating income, ordinary income, and net income exceeded 20.0 billion yen for the first time.
• Both sales and income increased for AMI, MED, and IM. Both AMI and IM segments achieved record net sales and operating income. Both sales and income decreased for AE.
• In Japan, sales increased for AMI Division key models and the PCR-related business and also increased for the MED and IM Divisions.
• In all regions outside Japan, increase was in double-digits.
• The overseas sales ratio increased 2 points year-on-year to 55 %.
• AMI segment sales increased for all three key model categories (LC, MS, and GC), increasing 16 % (year-on-year) to 72.6 billion yen.
• IM Division TMP sales increased by 26 % (year-on-year) to 12.7 billion yen, due to increased semiconductor demand for 5G- compatible equipment and other factors.
• The aftermarket business sales ratio increased 3 points to 32 % (year-on-year). (It increased 2 points to 36 % for AMI and increased 3 points to 36 % for MED.)
• Sales increased for novel coronavirus detection kits in Japan and North America, and for fully automatic PCR testing systems in Japan.
• Provided support for establishing 16 PCR testing centers since April, such as at companies, nursing homes, and educational institutions.
• Started jointly monitoring coronavirus levels in sewer water with Shionogi & Co., Ltd. for the purpose of predicting and understanding infection levels.

1st Half Results & Financial Position for the Fiscal Year Ended March 2022

3

Statement of Income

• Net sales:

202.1 billion yen (+23.3 billion yen or +13 % year-on-year)

• Operating income: 28.8 billion yen ( +9.2 billion yen or +47 % year-on-year)

• Operating margin: 14.3 %

( +3.3 points year-on-year)

First-half net sales, operating income, ordinary income, net income, and operating margin all exceeded previous record levels.

		1st Half: Apr.-Sep.	YoY
	Units: Billions of yen			Increase/		Percent
	FY 2021	FY 2020		Increase/
		Decrease
					Decrease
	Net Sales	202.1	178.8	+23.3		+13%
Business Results	Operating Income	28.8	19.6	+9.2		+47%
Operating Margin	14.3%	11.0%	+3.3pt
Ordinary Income	29.4	19.5	+9.9		+51%
	Profit Attributable to Owners of Parent	20.5	13.9	+6.6		+47%
Exchange Rates	Average Rate: USD (Yen)	109.85	106.97	+1.86		+2%
Euro (Yen)	130.93	121.33	+9.60		+7%
Major Investments	R&D Expenses	7.5	7.1	+0.4
CAPEX	6.3	5.9	+0.4
Depreciation and Amortization	8.0	7.6	+0.4

Exchange Rate Effect

Net sales: +4.4 billion yen

Operating income: +0.8 billion yen

Foreign Exchange Sensitivity

		(Billions of yen)
	Net Sales	Operating
	Income
USD	1.2	0.4
EUR	0.2	0.07

1st Half Results & Financial Position for the Fiscal Year Ended March 2022	4

Analysis of Year-on-Year Increase/Decrease in

Operating Income

• Exchange rate effect: +0.8 billion yen (Due to -2 % yen value vs US dollar and -7 % yen value vs euro, year-on-year)
• Effect of sales increase: +7.9 billion yen
• Increase in profitability: +4.4 billion yen (Due to increase in products with higher profit margins, improved segment mix, etc.)
• Increase in expenses: - 4.0 billion yen (Due to increased labor costs, selling costs, etc.)

19.6

FY 2020

Exchange Rate Effect

+0.8

			+4.4
	+7.9
Effect of Sales Increase	Effect of Real Increase in Profitability

			(Billions of yen)
			28.8
	-4.0		FY 2021
Effect of Increase in Expenses

1st Half Results & Financial Position for the Fiscal Year Ended March 2022	5