Financial/Non-Financial Highlights

Eleven-Year Financial Summary

Daifuku Co., Ltd. and consolidated subsidiaries
Years ended March 31, 2008 to 2018

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	Jump up for 2010			Material Handling and Beyond			Value Innovation 2017				Value Innovation 2020
(Million yen)	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018
For the Year
Net sales	231,619	242,182	154,208	159,263	198,052	202,337	241,811	267,284	336,184	320,825	404,925
Cost of sales	182,260	195,430	128,195	131,639	165,505	165,340	194,974	215,641	272,832	256,417	321,836
Gross profit	49,358	46,752	26,012	27,623	32,546	36,996	46,836	51,642	63,351	64,407	83,089
Selling, general and administrative expenses	28,680	31,736	25,932	25,897	28,328	28,986	34,279	36,759	42,472	41,308	43,164
Operating income	20,677	15,015	80	1,726	4,217	8,010	12,556	14,883	20,878	23,099	39,924
Income before income taxes	20,592	13,956	862	703	3,129	7,316	12,137	15,211	20,650	23,942	41,059
Net income attributable to shareholders of the parent company	11,893	7,851	1,018	269	1,223	4,439	7,740	9,810	13,652	16,746	29,008
Capital investment	4,071	4,613	2,280	3,221	2,393	7,687	10,446	7,532	4,210	5,905	6,348
Depreciation	3,401	3,930	3,679	3,577	3,612	3,332	3,821	4,157	4,587	4,202	4,419
R&D expenditures	6,964	8,018	6,075	6,370	6,484	6,855	7,490	6,945	7,009	7,489	8,123

Cash Flows
Cash flows from operating activities	21,234	(8,425)	20,921	11,417	(5,187)	15,666	20,447	6,295	7,206	26,683	11,497
Cash flows from investing activities	(6,340)	(6,900)	(7,303)	(3,616)	(4,039)	(13,649)	(7,372)	(5,846)	(2,099)	(5,393)	(5,600)
Free cash flows	14,894	(15,325)	13,617	7,801	(9,227)	2,016	13,074	448	5,107	21,289	5,897
Cash flows from financing activities	(3,531)	16,189	(11,321)	(6,056)	7,709	88	1,045	(509)	(8,702)	(4,404)	13,444

At Year-End
Total assets	222,386	194,727	165,430	163,388	185,049	206,875	249,531	271,011	296,055	303,540	373,712
Working capital	64,840	75,087	66,265	65,908	61,943	45,832	87,070	91,187	99,293	96,401	142,267
Interest-bearing liabilities	33,559	55,417	45,295	40,912	51,010	53,385	58,144	60,547	40,904	39,770	37,967
Net assets	88,709	82,810	81,295	77,714	76,618	85,685	99,690	111,521	130,116	142,340	191,474
Shareholders’ equity	83,355	85,727	83,852	82,454	82,013	84,486	90,652	98,469	123,669	136,694	181,454
Number of employees	5,663	5,660	5,395	5,209	5,617	6,678	7,349	7,746	7,835	8,689	9,193

Amounts per Share of Common Stock
Net income per share (Yen)	105.05	70.29	9.20	2.43	11.05	40.12	69.96	88.59	118.72	137.58	235.62
Net assets per share (Yen)	746.59	718.68	716.07	683.39	674.72	754.98	875.14	972.75	1,044.40	1,142.14	1,493.69
Cash dividends per share (Yen)	26.00	26.00	20.00	15.00	15.00	15.00	18.00	22.00	30.00	42.00	70.00

Ratios
Operating income/net sales	8.9%	6.2%	0.1%	1.1%	2.1%	4.0%	5.2%	5.6%	6.2%	7.2%	9.9%
Income before income taxes/net sales	8.9	5.8	0.6	0.4	1.6	3.6	5.0	5.7	6.1	7.5	10.1
Net income/net sales	5.1	3.2	0.7	0.2	0.6	2.2	3.2	3.7	4.1	5.2	7.2
Return on shareholders’ equity (ROE)	14.7	9.6	1.3	0.3	1.6	5.6	8.6	9.6	11.6	12.6	17.7
Total assets turnover (Times)	1.0	1.2	0.9	1.0	1.1	1.0	1.0	1.0	1.1	1.1	1.1
Shareholders’ equity/total assets	38.0	40.9	47.9	46.3	40.3	40.4	38.8	39.8	42.9	45.8	50.3
D/E ratio	0.40	0.70	0.57	0.54	0.68	0.64	0.60	0.56	0.32	0.29	0.20

Notes:

The amount of “Capital investment” in the years ended March 31, 2015, 2014, and 2013 includes goodwill generated from acquisition of shares in overseas companies.
In the calculation of net assets per share, the amount of non-controlling interests is subtracted from the amount of net assets in accordance with the above guidelines.
In the calculation of shareholders’ equity/total assets ratio and ROE, shareholders’ equity represents the amount of net assets less non-controlling interests.
D/E ratio=Interest-bearing liabilities/(Net assets – Non-controlling interests – Bonds with stock acquisition rights)

Five-Year Non-Financial Summary

Daifuku Co., Ltd. and consolidated subsidiaries
Years ended March 31

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	Value Innovation 2017				Value Innovation 2020
Environment	2014	2015	2016	2017	2018
CO₂ emissions (t-CO₂)
Japan	16,774	16,616	16,190	15,034	15,154
Non-Japan	21,573	20,700	20,148	24,563	25,332
CO₂ reduction contribution from environmentally friendly products (t-CO₂)	18,974	25,694	33,367	41,689	53,327
Water usage (m³)
Japan	145,404	136,801	135,519	125,991	123,587
Non-Japan	99,153	91,762	98,522	102,160	90,113
Emission and transfer volume of chemical substances related to PRTR Law (kg)^*1	23,506	18,691	30,010	21,180	28,576
Waste generated (t)^*2	1,142	968	1,244	1,083	1,147
Recycling rate (%)^*2	97.2	96.7	93.0	94.4	94.4

*1: Shiga Works

*2: Figures for Japan only

	Value Innovation 2017				Value Innovation 2020
Employees	2014	2015	2016	2017	2018
Total	7,349	7,746	7,835	8,689	9,193
Japan	2,970	2,986	3,077	3,153	3,257
Asia Pacific	2,042	2,453	2,558	2,758	2,978
Americas	2,103	2,093	2,027	2,587	2,759
Europe	234	214	173	191	199

2015 - 2018 (Japan, Asia Pacific, Americas, Europe) — Employees by region

2015 - 2018 (Japan and Non-Japan) — CO₂ emissions