(TRANSLATION)

This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

Consolidated Quarterly Financial Results

(based on Japanese standards)

For the three months ended June 30, 2023

July 28, 2023

Company name: FANUC CORPORATION

Stock exchange listing: Tokyo Stock Exchange

Stock code:

6954

URL: https://www.fanuc.co.jp/eindex.html

Representative: (Title) President

(Name) Kenji Yamaguchi

Contact:

(Title) Manager, Public Relations & Shareholders Relations Department

(Name) Naoki Yukisada TEL: (0555)84－5555

Scheduled date of filing quarterly report: August 9, 2023

Scheduled date of commencing of dividend payments: -

Availability of supplementary briefing material on quarterly financial results: Available

Schedule of quarterly financial results briefing session: Scheduled

1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 - June 30, 2023)

(1) Consolidated Results of Operations (cumulative)

(% represents changes from the previous corresponding three-month period.)

Three months

Net income

Net sales

Operating income

Ordinary income

attributable to owners

ended June 30

of parent

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

2023

201,771

(4.6)

32,594

(34.5)

41,675

(30.0)

30,324

(28.0)

2022

211,563

14.2

49,757

(4.4)

59,538

2.7

42,122

4.5

Note: Consolidated comprehensive income:

April-June 2023:

¥72,004 million (15.0)%

April-June 2022:

¥84,743 million 76.8%

Three months

Net income

Net income

per share

ended June 30

per share

(diluted)

Yen

Yen

2023

31.82

-

2022

44.00

-

Note: On April 1, 2023, the Company performed a 1-to-5 stock split of common share. "Net income per share" was calculated assuming that the stock split was performed at the beginning of the previous fiscal year.

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

%

June 30, 2023

1,868,123

1,640,675

87.2

March 31, 2023

1,873,536

1,627,555

86.2

(Reference) Equity: June 30, 2023: ¥1,629,393 million

March 31, 2023: ¥1,615,376 million

2. Dividends

Dividends per share

1st Quarter

2nd Quarter

3rd Quarter

Fiscal year-end

Full year

Yen

Yen

Yen

Yen

Yen

FY2022

-

264.02

-

271.64

535.66

FY2023

-

FY2023

-

-

-

-

(forecast)

Note: We have not changed the forecasts of dividends from the latest ones.

Note: On April 1, 2023, the Company performed a 1-to-5 stock split of common share. Figures for FY2022 are the actual amount of dividends before the stock split.

Note: The 2nd quarter-end and year-end dividends for FY2023, will be disclosed promptly upon their availability.

3. Consolidated Financial Forecasts for FY 2023 (April 1, 2023 - March 31, 2024)

(% for the 2Q cumulative period and for the full year represents changes from the same quarter of the previous fiscal year and changes from the previous fiscal year respectively.)

Net income

Net sales Operating income Ordinary income attributable to owners of parent

2nd Quarter

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

(Cumulative)

384,600

(7.6)

62,500

(34.0)

81,400

(29.6)

60,800

(27.8)

Full year

750,300

(11.9)

118,300

(38.2)

150,300

(35.0)

113,100

(33.7)

Note: We have changed the forecasts of financial results from the latest ones.

*Notes

  1. Changes in Significant Subsidiaries during the three months ended June 30, 2023 (changes in specific subsidiaries that caused change in scope of consolidation) : No
  2. Adoption of Simplified and Specifically Applied Accounting Method for Quarterly

Consolidated Financial Reporting

: No

Net income

per share

Yen

63.80

118.69

  1. Changes in Accounting Principles and Accounting Estimates, and Revisions/Restatements

1. Changes in accounting principles associated with changes in

:

No

accounting standards

2.

Changes in accounting principles other than 1

:

Yes

3.

Changes in accounting estimates

:

No

4.

Revisions/Restatements

:

No

Note: For details, please see "3. Other Information (3) Changes in Accounting Principles and Accounting Estimates, and Revisions/Restatements" on page 9 of the Accompanying Documents.

  1. Number of shares outstanding (Common shares)

1. Number of shares outstanding at the end of the period (including treasury stocks)

June 30, 2023

1,003,073,989

March 31, 2023

1,009,546,985

shares

shares

2. Number of treasury stocks at the end of the period

June 30, 2023

50,155,241

March 31, 2023

56,626,695

shares

shares

3. Average number of shares during the period

April-June 2023

952,918,966

April-June 2022

957,338,500

shares

shares

Note: On April 1, 2023, the Company performed a 1-to-5 stock split of common stock. "Number of shares outstanding at the end of the period," "Number of treasury stocks at the end of the period" and "Average number of shares during the period" were calculated assuming that the stock split was performed at the beginning of the previous fiscal year.

  • The report of the quarterly financial results is not subject to audit by certified public accountant or audit firm.
  • Notes on appropriate use of the financial forecasts, other notes.
    Any forward looking statements such as financial forecasts described in this report are subject to uncertain factors such as product supply and demand trends, industry competition, economic conditions, and others in major markets. Actual results may differ from these forecasts. For the details of the financial forecasts, please see "Financial Results Forecasts" on page 4 of the Accompanying Documents. The forecasts of the 2nd quarter-end and the year-end dividends for FY2023, will be disclosed promptly upon their availability.

Table of Contents of Accompanying Documents

1. Results of Operations and Financial Position

2

(1)

Results of Operations

2

(2)

Financial Position

3

(3)

Financial Results Forecasts

4

2. Consolidated Quarterly Financial Statements

5

(1)

Consolidated Quarterly Balance Sheet

5

(2)

Consolidated Quarterly Statement of Income and

Consolidated Quarterly Statement of Comprehensive Income

7

Consolidated Quarterly Statement of Income

7

Consolidated Quarterly Statement of Comprehensive Income

8

3. Other Information

9

(1)

Changes in Significant Subsidiaries during the three months

ended June 30, 2023

9

(2)

Adoption of Simplified and Specifically Applied Accounting

Method for Quarterly Consolidated Financial Reporting

9

(3)

Changes in Accounting Principles and Accounting Estimates, and

Revisions/Restatements

9

(4)

Note on Premise of a Going Concern

9

(5)

Note on the Substantial Change in Shareholders' Equity

9

1

1. Results of Operations and Financial Position

(1) Overview of Results of Operations

Regarding the circumstances surrounding the FANUC Group during the first three-month period of the fiscal year ending March 31, 2024 (from April 1 to June 30, 2023), while the impact on production activities by shortage in semiconductors and other components in the supply chain that had continued until now has subsided, the outlook remained uncertain due to several factors, such as the effects of progressing global inflation, concerns of an economic slowdown, and fluctuations in exchange rates. In addition, inventory adjustments from the second half of FY 2022 (the fiscal year ended March 31, 2023) had an impact on production. Amidst these difficult conditions, the Company has done every effort to minimize the impact on the financial results through the concerted efforts of all departments, including sales divisions, R&D divisions, factories, service divisions, and administrative departments.

During the three months from April to June 2023, FANUC posted consolidated net sales totaling ¥201,771 million, down 4.6%, consolidated ordinary income totaling ¥41,675 million, down 30.0%, and net income attributable to owners of parent totaling ¥30,324 million, down 28.0%, compared with the corresponding period of the previous fiscal year.

An overview of the results for each business division is as follows:

In the FA Division, demand from the machine tool industry, the primary market for CNC systems, showed a slowdown trend in each country around the world, including Japan, except the Indian market, where demand was firm, and sales of our CNC systems also declined. Net sales in the FA Division amounted to ¥49,653 million, down 24.3% compared with the corresponding period of the previous fiscal year.

In the Robot Division, sales increased due to strong demand in China for EV industry and general industries, mainly for renewable energy-related industries. In the U.S., demand for EV-related industries remained very strong and sales increased. In Europe, demand for general industries remained very strong and EV-related business negotiations became active, resulting in an overall increase in sales. In Japan, sales increased as sales for general industries remained strong, despite sluggish sales for automobile industry. As a result, net sales in the Robot Division amounted to ¥96,479 million, up 20.0% compared with the corresponding period of the previous fiscal year.

In the Robomachine Division, sales of ROBODRILLs (compact machining centers) decreased due to a drop in demand in the Americas and China. Sales of ROBOSHOTs (electric injection molding machines) declined due to a peaking-out in demand from the IT-related and medical markets. Sales of ROBOCUTs (wire electrical-discharge machines) decreased due to lower demand from IT-related and EV-related markets in China, although demand from the medical market remained strong. As a result, net sales in the Robomachine Division amounted to ¥25,493 million, down 36.6% compared with the corresponding period of the previous fiscal year.

In the Service Division, with an emphasis on our policy of "Service First," we are strengthening the service system and improving efficiency by actively introducing IT technology. Net sales in the Service

2

Division amounted to ¥30,146 million, up 18.8% compared with the corresponding period of the previous fiscal year.

(2) Financial Position

Total assets were ¥1,868,123 million, down ¥5,413 million compared with the end of the previous fiscal year.

Total liabilities were ¥227,448 million, down ¥18,533 million compared with the end of the previous fiscal year.

Total net assets were ¥1,640,675 million, up ¥13,120 million compared with the end of the previous fiscal year.

3

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Fanuc Corporation published this content on 30 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 06:04:11 UTC.