TADANO : Consolidated Financial Results (Quantitative) For First Quarter of FY 2019

Consolidated Financial Results (Quantitative) For First Quarter of FY 2019

(April 1, 2019 through June 30, 2019)

In 2019, Tadano Ltd. celebrates the 100th anniversary of its founding.

Notes:

1. For the purpose of timely English-language financial information disclosure, Tadano Ltd. provides quantitative financial results reports in concurrence with the disclosure of its original Japanese-language financial results. Detailed qualitative information will be disclosed at a later date in a comprehensive financial results report.
2. Forward-lookingstatements contained in this report are based on information available as of the date this report was prepared. A variety of factors may cause actual results to differ from projections.

July 31, 2019

Tadano Ltd.

Income Statement （vs. Previous Year）

• Unit: millions of yen）

	1Q FY2018	1Q FY2019	Increase/
					Decrease
	Amount	Percentage	Amount	Percentage
Net Sales	34,894	100.0%	40,376	100.0%	5,481
Cost of Sales	24,736	70.9%	30,003	74.3%	5,267
Gross proft on installment sales	77	0.2%	-11	-0.0%	-89
Gross profit	10,235	29.3%	10,360	25.7%	124
Selling, general, and	7,958	22.8%	8,919	22.1%	961
administrative expenses
Operating income	2,277	6.5%	1,440	3.6%	-836
Non-operating income and loss	-69	-0.2%	-84	-0.2%	-14
Ordinary income	2,207	6.3%	1,356	3.4%	-851
Extraordinary income and loss	1	0.0%	-1	-0.0%	-2
Income before income taxes	2,208	6.3%	1,354	3.4%	-854
Corporate taxes	398	1.1%	723	1.8%	324
Net income attributable to	10	0.0%	-7	-0.0%	-18
noncontrolling interests
Net income attribute to	1,799	5.2%	639	1.6%	-1,160
owners of parent

1

Balance Sheet （vs. End of Previous Fiscal Year）

• Unit: millions of yen）

	FY2018 Year-End	1Q FY2019	Increase/
					Decrease
	Amount	Percentage	Amount	Percentage
Cash deposits	65,952	25.8%	61,672	24.0%	-4,279
Accounts receivable	50,836	19.9%	41,448	16.1%	-9,388
Inventories	62,757	24.5%	74,432	29.0%	11,675
Other current assets	6,610	2.6%	5,252	2.1%	-1,358
Total current assets	186,156	72.8%	182,806	71.2%	-3,349
Tangible fixed assets	52,597	20.5%	57,197	22.3%	4,600
Intangible fixed assets	1,703	0.7%	1,685	0.7%	-18
Investment and other	15,336	6.0%	15,132	5.8%	-204
assets
Total fixed assets	69,637	27.2%	74,014	28.8%	4,377
Total assets	255,793	100.0%	256,821	100.0%	1,027
Accounts payable	41,792	16.3%	45,630	17.8%	3,838
Interest-bearing debt	30,165	11.8%	32,312	12.6%	2,147
Other liabilities	28,810	11.3%	25,582	9.9%	-3,227
Total liabilities	100,768	39.4%	103,526	40.3%	2,757
Total equity	155,025	60.6%	153,294	59.7%	-1,730
Total liabilities and	255,793	100.0%	256,821	100.0%	1,027
equity

2

Net Sales by Product

(Millions of yen)	Mobile Cranes
50,000		Truck Loader Cranes
	Aerial Work Platforms
		Other
40,000		40,376
	34,894	7,393
30,000	7,293	4,002
	4,335	5,584
20,000	4,340
10,000	18,924	23,396
0
1Q FY2018	1Q FY2019

(Unit: millions of yen)

	1Q FY2018	1Q FY2019	Increase / Decrease
	Amount	Percentage	Amount	Percentage	Amount	Percentage
Mobile Cranes	18,924	54.2%	23,396	58.0%	4,471	23.6%
Truck Loader	4,340	12.4%	5,584	13.8%	1,243	28.7%
Cranes
Aerial Work	4,335	12.4%	4,002	9.9%	-333	-7.7%
Platforms
Other	7,293	21.0%	7,393	18.3%	99	1.4%
Total					5,481
34,894	100%	40,376	100%	15.7%
Breakdown of Mobile Crane Sales Inside and Outside Japan
Japan		6,296		7,728	1,432	22.8%
Outside Japan		12,628		15,667	3,038	24.1%
Exchange Rate (January-March Average Rate)
USD		108.30		110.20
EUR		133.22		125.15

Since the fiscal year for subsidiaries outside Japan ends in December, the rates given here are January-March average.

3

Net Sales by Destination

		Europe
(Millions of yen)	North America
20,000		Caribbean, Central and South America
	Asia	19,147
		Middle East
		Other
		16,173	4,483
		3,980
			5,666
10,000		5,560
		726
		207	3,635
		3,064
			1,539
		1,559
		1,801	3,096
0
	1Q FY2018	1Q FY2019

(Unit: millions of yen)

	1Q FY2018	1Q FY2019	Increase / Decrease
	Amount	Percentage	Amount	Percentage	Amount	Percentage
Europe	3,980	11.4%	4,483	11.1%	502	12.6%
North America	5,560	15.9%	5,666	14.0%	105	1.9%
Caribbean,Central	207	0.6%	726	1.8%	519	251.0%
and South America
Asia	3,064	8.8%	3,635	9.0%	570	18.6%
Middle East	1,559	4.5%	1,539	3.8%	-19	-1.3%
Other	1,801	5.2%	3,096	7.7%	1,294	71.9%
Subtotal (total	16,173	46.4%	19,147	47.4%	2,973	18.4%
outside Japan sales)
Japan	18,720	53.6%	21,229	52.6%	2,508	13.4%
Total	34,894	100%	40,376	100%	5,481	15.7%

The graph on the left excludes Japan.

"Other" is comprised of Oceania, Africa and the CIS.

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82,272 100% 100,000 100% 17,728 21.5%

FY2019 First Half Forecast (Net Sales by Product)

(Millions of yen)	Mobile Cranes
Truck Loader Cranes
	Aerial Work Platforms
100,000	Other	100,000
		16,700
	82,272
80,000		9,900
	14,943
		10,200
60,000	9,208
	9,605

(Unit: millions of yen)

	FY2018	FY2019	Increase / Decrease
	First Half	First Half Forecast
	Amount	Percentage	Amount	Percentage	Amount	Percentage
Mobile	48,515	59.0%	63,200	63.2%	14,685	30.3%
Cranes
Truck Loader	9,605	11.7%	10,200	10.2%	595	6.2%
Cranes
Aerial Work	9,208	11.2%	9,900	9.9%	692	7.5%
Platforms
Other	14,943	18.1%	16,700	16.7%	1,757	11.8%

40,000

20,000

63,200

48,515

Total

82,272

100% 100,000

100%

17,728

21.5%

Breakdown of Mobile Crane Sales Inside and Outside Japan

Japan	17,915	24,500	6,585	36.8%
Outside Japan	30,600	38,700	8,100	26.5%
No changes from the forecast released on April 26, 2019.

0
FY2018 First Half	FY2019 First Half
		Forecast

5

FY2019 First Half Forecast (Net Sales by Destination)

(Millions of yen)	Europe
North America
50,000		Caribbean, Central and South America
	Asia	47,600
		Middle East
		Other
			8,500
40,000		37,864
		9,528
30,000			21,000
20,000		14,973
			1,400
		582	6,900
10,000		6,183	3,300
		2,556	6,500
		4,041
0
FY 2018 First Half	FY 2019 First Half
			Forecast

(Unit: millions of yen)

	FY2018	FY2019	Increase / Decrease
	First Half	First Half Forecast
	Amount	Percentage	Amount	Percentage	Amount	Percentage
Europe	9,528	11.6%	8,500	8.5%	-1,028	-10.8%
North America	14,973	18.2%	21,000	21.0%	6,027	40.3%
Caribbean,Central	582	0.7%	1,400	1.4%	818	140.5%
and South America
Asia	6,183	7.5%	6,900	6.9%	717	11.6%
Middle East	2,556	3.1%	3,300	3.3%	744	29.1%
Other	4,041	4.9%	6,500	6.5%	2,459	60.9%
Subtotal (total	37,864	46.0%	47,600	47.6%	9,736	25.7%
outside Japan sales)
Japan	44,407	54.0%	52,400	52.4%	7,993	18.0%

Total

No changes from the forecast released on April 26, 2019. The graph on the left excludes Japan.

"Other" is comprised of Oceania, Africa and the CIS.

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