Tadano : Consolidated Financial Results(Quantitative) For First Quarter of FY 2020

Consolidated Financial Results(Quantitative) For First Quarter of FY 2020

(April 1, 2020 through June 30, 2020)

Notes:
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	July 31, 2020
comprehensive financial results report.

< Notes >

Forward-looking statements 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.

1

Income Statement

				(Unit: millions of yen)
	FY2019	FY2020	Increase/
	1Q		1Q
			Decrease
	Amount	Percentage	Amount	Percentage
Net sales	40,376	100%	43,213	100%	2,836
Cost of sales	30,003	74.3%	33,846	78.3%	3,842
Gross profit on installment sales	-11	-0.0%	-15	-0.0%	-3
Gross profit	10,360	25.7%	9,351	21.6%	-1,008
Selling, general, and	8,919	22.1%	9,921	23.0%	1,001
administrative expenses
Operating income	1,440	3.6%	-569	-1.3%	-2,010
Non-operating income and loss	-84	-0.2%	-227	-0.5%	-142
Ordinary income	1,356	3.4%	-796	-1.8%	-2,152
Extraordinary income and loss	-1	-0.0%	101	0.2%	103
Income before income taxes	1,354	3.4%	-694	-1.6%	-2,049
Corporate taxes	723	1.8%	314	0.7%	-408
Net income attributable to	-7	-0.0%	-4	-0.0%	3
noncontrolling interests
Net income attributable to	639	1.6%	-1,005	-2.3%	-1,645
owners of the parent

2

Balance Sheet

								(Unit: millions of yen)
		FY2019	FY2020	Increase/			FY2019	FY2020	Increase/
		Year-end	1Q	Decrease			Year-end	1Q	Decrease
Cash deposits	57,075	60,262	3,186		Accounts payable	40,745	37,766	-2,978
Accounts receivable	63,725	45,103	-18,621		Interest-bearing debt	63,070	63,883	812
Inventories	97,457	107,258	9,800		Other liabilities	48,621	44,206	-4,415
	11,723	7,310	-4,412
Other current assets		Total liabilities	152,437	145,855	-6,581
Total current assets	229,982	219,935	-10,046		Total equity	159,609	155,475	-4,134
Tangible fixed assets	66,417	65,827	-590		Total liabilities	312,047	301,331	-10,715
	and equity
Intangible fixed assets	1,705	1,613	-91
Investment and	13,942	13,955	12
other assets				FY2019	FY2019	FY2020
Total fixed assets	82,064	81,396	-668
		1Q	1Q
Total assets	312,047	301,331	-10,715
	Receivable turnover	93.4 days	88.7 days	95.0 days
						Inventory turnover	167.8 days	135.6 days	225.9 days
						Equity ratio	59.3%	50.8%	51.2%
									3

Net Sales by Product

(Unit: millions of yen)

	FY2019	FY2020	Increase/Decrease
	1Q	1Q	Amount Percentage
Mobile Cranes	23,396	26,567	3,171	13.6%
Truck Loader	5,584	4,273	-1,310	-23.5%
Cranes
Aerial Work	4,002	3,147	-855	-21.4%
Platforms
Other	7,393	9,224	1,831	24.8%
Total	40,376	43,213	2,836	7.0%
Breakdown of Mobile Crane Sales Inside and Outside Japan
Japan	7,728	5,913	-1,815	-23.5%
Outside Japan	15,667	20,653	4,986	31.8%
Total	23,396	26,567	3,171	13.6%
Exchange Rate	* Since the fiscal year for subsidiaries outside Japan ends in December,
the rates given here are January-March average.
USD	110.20	108.92
EUR	125.15	120.11

Net Sales by Product

（Millions of yen）

250,000

200,000

150,000

100,000

50,000

0

FY10 FY11	FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19	FY19	FY20
						1Q	1Q
Mobile Cranes			Truck Loader Cranes		Aerial Work Platforms		Other

4

Net Sales by Destination

(Unit: millions of yen)

	FY2019	FY2020	Increase/Decrease
	1Q	1Q	Amount	Percentage
Europe	4,483	8,457	3,974	88.6%
North America	5,666	9,865	4,199	74.1%
Caribbean, Central	726	1,799	1,072	147.8%
and South America
Asia	3,635	2,836	-798	-22.0%
Middle East	1,539	1,353	-186	-12.1%
Other	3,096	1,829	-1,266	-40.9%
Subtotal	19,147	26,141	6,994	36.5%
(total outside Japan sales)
Japan	21,229	17,071	-4,157	-19.6%
Total	40,376	43,213	2,836	7.0%
Outside Japan	47.4%	60.5%
Sales Ratio

（Millions of yen）		Net Sales by Destination
140,000															70%
120,000															60%
100,000															50%
80,000															40%
60,000															30%
40,000															20%
20,000															10%
0																0%
		FY10	FY11	FY12	FY13	FY14	FY15	FY16	FY17	FY18	FY19	FY19	FY20
			Europe									North America	1Q	1Q
			Caribbean,Central and South America					Asia
			Middle East									Other
			Outside Japan Sales ratio

The graph above excludes Japan.

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

5

FY 2020 First Half Business Performance Forecast

FY2020 First Half（Released on July 31,2020）		(Unit: millions of yen)
		FY2019	FY2020	Increase/Decrease
		First Half	First Half Forecast
		Amount	Percentage	Amount	Percentage	Amount	Percentage
	Net sales	100,304	100%	88,000	100%	-12,304	-12.3%
	Operating income	7,573	7.6%	-2,100	-2.4%	-9,673	-
	Ordinary income	7,262	7.2%	-2,500	-2.8%	-9,762	-
	Net income attributable to	5,064	5.0%	-3,100	-3.5%	-8,164	-
	owners of the parent
		FY2019	FY2020
		Mid-year ¥14.00	Mid-year	¥0.00
	Dividends per share	Year-end	¥14.00	Year-end	Undetermined
		Full-year	¥28.00	Full-year	Undetermined

*The consolidated business performance forecast for FY 2020 has not yet been formulated due to the difficulty in reasonably assessing the impact of the novel coronavirus disease (COVID-19).

The forecast will be disclosed after it becomes possible to assess these matters to a higher degree.

*The mid-year dividends will not be paid. The year-end dividends forecast has not yet been determined and will be disclosed when the consolidated business performance forecast for FY 2020 becomes available.

6

FY 2020 First Half Forecast (Net Sales by Product)

			(Unit: millions of yen)
	FY2019	FY2020	Increase/Decrease
	First Half
	First Half
	Forecast	Amount Percentage
Mobile Cranes	64,199	53,800	-10,399	-16.2%
Truck Loader	11,265	9,300	-1,965	-17.4%
Cranes
Aerial Work	9,507	8,000	-1,507	-15.9%
Platforms
Other	15,332	16,900	1,568	10.2%
Total	100,304	88,000	-12,304	-12.3%
Breakdown of Mobile Crane Sales Inside and Outside Japan
Japan	24,984	17,500	-7,484	-30.0%
Outside Japan	39,214	36,300	-2,914	-7.4%
Total	64,199	53,800	-10,399	-16.2%
Exchange Rate	* Since the fiscal year for subsidiaries outside Japan ends in December,
the rates given here are January-June average.
USD	110.05	108.27
EUR	124.32	119.30

（Millions of yen）

Net Sales by Product

250,000

200,000

150,000

100,000

50,000

0

FY10

FY11

FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY19

FY20

First Half

First Half

Forecast

Mobile Cranes

Truck Loader Cranes

Aerial Work Platforms

Other

7

FY 2020 First Half Forecast (Net Sales by Destination)

			(Unit: millions of yen)
	FY2019	FY2020	Increase/Decrease
	First Half
	First Half	Amount Percentage
	Forecast
Europe	8,627	13,600	4,973	57.6%
North America	21,043	18,100	-2,943	-14.0%
Caribbean, Central	1,317	2,300	983	74.6%
and South America
Asia	6,729	5,100	-1,629	-24.2%
Middle East	3,064	3,500	436	14.2%
Other	5,377	3,900	-1,477	-27.5%
Subtotal	46,159	46,500	341	0.7%
(total outside Japan sales)
Japan	54,144	41,500	-12,644	-23.4%
Total	100,304	88,000	-12,304	-12.3%
Outside Japan	46.0%	52.8%
Sales ratio

（Millions of yen）	Net Sales by Destination
140,000	60%

120,000												50%
100,000
												40%
80,000
												30%
60,000
												20%
40,000
20,000												10%
0													0%
	FY10	FY11	FY12	FY13	FY14	FY15	FY16	FY17	FY18	FY19	FY19	FY20
											First Half	First Half
												Forecast

Europe		North America
Caribbean,Central and South America		Asia
Middle East		Other
Outside Japan Sales ratio

The graph above excludes Japan.

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

8