Daifuku Report 2019

Growth and VisionCFO MessageBasic views on financial condition and strategyBuilding on its stable financial foundation, Daifuku works diligently to maintain an ROE of 10% or higher. In principle, we undertake investments with the aim of expanding our business further while returning profits to shareholders in line with growth. Taking into consideration our basic views on the Group’s financial condition and strategy, every effort is made to maximize corporate value. With respect to its financial condition, Daifuku conducted a public offering in December 2017 while undertaking the disposition of treasury stock. In addition to expanding our global production capacity, we were successful in boosting net assets and securing a rock-solid debt-to-equity (D/E) ratio of 0.2 or lower. Naturally, we also maintain a flexible financial strategy and look to temporarily increase borrowings, should the need arise to undertake capital expenditures, M&A, development and other growth investments. Currently, Daifuku has obtained an “A” corporate rating. Moving forward, we will pursue various initiatives including the further accumulation of new assets in a bid to boost the Company’s evaluation even higher.Mikio InoharaExecutive Vice President CFO and CROBuilding on its sound financial foundation, Daifuku is committed to balancing proactive investment with shareholder returnsAs far as operating results are concerned, the Daifuku Group achieved new record highs in terms of orders received, net sales and earnings in fiscal 2018 (year ended March 31, 2019), the second year of its medium-term business plan. Moreover, the Group witnessed a further year-on-year improvement in its return on shareholders’ equity (ROE) from 17.7% to 19.5%. This largely reflected the upswing in its ratio of net income to net sales from 7.2% to 8.6%. With increases in cash dividends and the Company’s stock price, Daifuku’s total shareholder return (TSR), which came in at 471.3%, substantially outperformed the Tokyo Stock Price Index (TOPIX) average of 147.1%.TSR*Net income attributable to shareholders of the parent company, ROE(Billion yen)(%)40024168322001284162018201720162015201420132012(FY) L Net income attributable to shareholders of the parent company (left axis) P ROE (right axis)Mar. 2013Mar. 2014Mar. 2015Mar. 2016Mar. 20171,0008006004002000Mar. 2018Mar. 2019TOPIXDaifuku*Index taken as 100 for the amount for the end of March 201314

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