Summary of Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022 (U.S. GAAP)

January 28, 2022

OMRON Corporation (6645)

Exchanges Listed:

Tokyo (first section)

URL:

https://www.omron.com/global/en/

Representative:

Yoshihito Yamada, President and CEO

Contact:

Takayoshi Oue, Executive Officer, Senior General Manager,

Global Finance and Accounting HQ

Telephone:

Filing of Quarterly Securities Report (Shihanki hokokusho) (scheduled):

Start of Distribution of Dividends (scheduled):

Preparation of Supplementary Materials for the Quarterly Financial Results:

Holding of Presentation of Quarterly Financial Results:

+81-75-344-7070

February 10, 2022

－

Yes

Yes (Financial results presentation held via online streaming and teleconference for investors on January 28)

Note: This document has been translated from the Japanese original as a guide to non-Japanese investors and contains forward- looking statements that are based on managements' estimates, assumptions and projections at the time of publication. A number of factors could cause actual results to differ materially from expectations.

Note: Figures are rounded to the nearest million yen.

1. Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022 (April 1, 2021 - December 31, 2021)

(1) Sales and Income (cumulative)

(Percentages represent changes compared with the same period of the previous fiscal year.)

Net sales

Operating income

Income before income taxes

Net income attributable

to shareholders

Nine months ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

December 31, 2021

558,609

19.0

66,858

57.5

63,731

36.2

44,815

32.2

December 31, 2020

469,570

(5.8)

42,437

5.8

46,779

10.6

33,912

(52.2)

Note: Comprehensive income:

Nine months ended December 31, 2021:

JPY65,599 million (59.1% change);

Nine months ended December 31, 2020:

JPY41,230 million (-46.8% change)

Net income per share

Net income per share

attributable to

attributable to

shareholders, basic

shareholders, diluted

Nine months ended

Yen

Yen

December 31, 2021

222.53

－

December 31, 2020

168.13

－

(2) Consolidated Financial Position

Total assets

Net assets

Shareholders' equity

Shareholders'

equity ratio

Million yen

Million yen

Million yen

%

December 31, 2021

841,646

634,110

631,519

75.0

March 31, 2021

820,379

609,358

606,858

74.0

2. Dividends

Dividends per share

First quarter-end

First half-end

Third quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

－

42.00

－

42.00

84.00

March 31, 2021

Fiscal year ending

－

46.00

－

March 31, 2022

Fiscal year ending

March 31, 2022

46.00

92.00

(projected)

Note: Revisions since the most recently announced dividend forecast: No

3. Projected Results for the Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)

(Percentages represent changes compared with the same period of the previous fiscal year.)

Income before

Net income

Net income per share

Net sales

Operating income

attributable to

attributable to

income taxes

shareholders

shareholders, basic

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Yen

Full-year

760,000

15.9

88,000

40.8

83,000

27.5

57,000

31.6

283.75

Note: Revisions since the most recently announced dividend forecast: Yes

For more, see 1. Qualitative Information on Quarterly Financial Results (2) Description of Information on Outlook, Including Consolidated Performance Forecast on P.5-6of the attached materials.

*Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries due to changes in the scope of consolidation): No

New: - company (company name)

Excluded: - company (company name)

  1. Application of simplified accounting methods and/or special accounting methods: No
  2. Changes in accounting policy
  1. Changes in accounting policy accompanying revision of accounting standards, etc.: Yes
  2. Changes in accounting policy other than (a) above: No

Note: For more, see 2. Quarterly Consolidated Financial Statements and Notes (4) Notes Regarding Consolidated Financial Statements (Changes in Accounting Policies) on P.12 in the attached materials.

(4) Number of shares issued and outstanding (common stock)

[1] Number of shares outstanding at period-

December 31, 2021

206,244,872

Year ended

206,244,872

end (including treasury stock)

March 31, 2021

[2] Treasury stock at period-end

December 31, 2021

7,052,828

Year ended

4,574,294

March 31, 2021

[3] Average number of shares during the

Nine months ended

201,390,043

Nine months ended

201,699,179

period (quarterly cumulative)

December 31, 2021

December 31, 2020

Note: As of the end of the consolidated first nine months of the fiscal year ending March 31, 2022, 606,434 shares of OMRON stock held for Board Incentive Plan and Employee Stock Ownership Plan are included in period-end treasury stock. The average number of shares during the period includes treasury stock deducted in the calculation of net income per share attributable to OMRON shareholders.

*Quarterly summaries of consolidated financial results are not subject to review by certified public accountants or audit corporations.

*Commentary Regarding Appropriate Use of Projections of Results and Other Matters

  1. Projections of results and future developments are based on information available to the Company at the time of writing, as well as certain assumptions judged by the Company to be reasonable. Various risks, uncertainties and other factors could cause actual results to differ materially from these projections.
    For the assumptions that form the basis of the projected results and appropriate use, see 1. Qualitative Information on Quarterly Financial Results (2) Description of Information on Outlook, Including Consolidated Performance Forecast on P.5-6.
  2. The Company applies the single step method for presentation of its Consolidated Financial Statements based on U.S. GAAP. However, to facilitate comparison with other companies, operating income on the Consolidated Statements of Operations is presented by subtracting selling, general and administrative expenses and research and development expenses from gross profit.
  3. The Company plans to hold a presentation for investors and information session via online streaming and teleconference on Friday, January 28, 2022.

The following abbreviations of business segment names are used in the attached materials.

IAB:

Industrial Automation Business

EMC:

Electronic and Mechanical Components Business

SSB:

Social Systems, Solutions and Service Business

HCB:

Healthcare Business

Table of Contents

1. Qualitative Information on Quarterly Financial Results………………………………………………………………………

P.2

(1) Description of Results of Operations……………………………………………………………………………………

P.2

(2) Description of Information on Outlook, Including Consolidated Performance Forecast…………………………………

P.5

2. Quarterly Consolidated Financial Statements and Notes ……………………………………………………………………

P.7

(1) Quarterly Consolidated Balance Sheets…………………………………………………………………………………

P.7

(2) Quarterly Consolidated Statements of Operations and Quarterly Consolidated Statements of Comprehensive Income…

P.9

(3) Consolidated Statements of Cash Flows…………………………………………………………………………………

P.11

(4) Notes Regarding Consolidated Financial Statements……………………………………………………………………

P.12

(Notes Regarding Assumptions of Going Concern)……………………………………………………………………

P.12

(Notes in the Event of Significant Changes in Shareholders' Equity)…………………………………………………

P.12

(Changes in Accounting Policies)………………………………………………………………………………………

P.12

(Segment Information)…………………………………………………………………………………………………

P.13

- 1 -

1. Qualitative Information on Quarterly Financial Results

  1. Description of Results of Operations

General Overview

The business environment surrounding the OMRON Group during the consolidated third quarter (October through December 2021) experienced strong demand from the digital industry, mainly in Greater China, Asia and the Americas. At the same time, investments related to carbon-neutral and plastic-free products expanded against the backdrop of social demands to protect the global environment. Further, the COVID-19 pandemic led to increased demand for home medical equipment as consumers gained a renewed appreciation of the importance of preventing serious lifestyle-related diseases. At the same time, supply chain disruptions continued, while the scope of parts shortages and the impact of soaring logistics costs were greater than expected.

Amid this business environment, the Industrial Automation Business continued to build on the ability to propose solutions, securing parts and responding to increased production to meet expanding demand for capital investment in semiconductors, electric vehicles, secondary batteries, and food packaging machinery. Our Healthcare Business responded to ongoing global expansion in demand for blood pressure monitors. Here, we strengthened promotions through our retail pharmacy and online channels, secured production capacity, and improved logistics to provide products to customers.

Although results were lower than forecast due to supply chain disruptions, sales for the cumulative consolidated third quarter rose significantly year on year. Gross profit margins improved year on year due to internal efforts to reduce variable costs, increase production efficiencies, etc., despite the negative impact of soaring prices for components and logistics costs. Operating income rose significantly year on year due to strong earning capacity and sales growth, areas we have developed over the years. Further, we recorded historic highs in operating income for any cumulative consolidated third quarter.

Consolidated results for the cumulative consolidated third quarter of fiscal 2021 were as follows.

(Billions of yen, except exchange rate data and percentages)

Nine months ended

Nine months ended

Change

December 31, 2020

December 31, 2021

Net sales

469.6

558.6

+19.0%

Gross profit

213.9

256.4

+19.8%

[% of net sales]

[45.6%]

[45.9%]

[+0.3%pt]

Operating income

42.4

66.9

+57.5%

[% of net sales]

[9.0%]

[12.0%]

[+2.9%pt]

Income before income taxes

46.8

63.7

+36.2%

Net income attributable to

33.9

44.8

+32.2%

OMRON shareholders

Average USD exchange rate (Yen)

106.2

111.0

+4.8

Average EUR exchange rate (Yen)

121.8

130.8

+9.0

Average RMB exchange rate (Yen)

15.3

17.2

+1.9

- 2 -

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Omron Corporation published this content on 28 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2022 06:15:05 UTC.