Slides
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GLORY LTD. FY2024 Consolidated Financial Results Tokyo Office Showroom
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Agenda Financial results for the Year ended March 31, 2025 Initiatives to Increase Corporate Value Akihiro Harada, President1 Summary of Financial Results Yukiya Tanaka Executive Officer; Executive General Manager, Management strategies Headquarters 2 Summary of Financial Forecasts Yukiya Tanaka Executive Officer; Executive General Manager, Management strategies Headquarters 3 Financial forecast for the Year ending March 31, 2026
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Initiatives to Increase Corporate Value Akihiro Harada, President1 This document is based on our own calculations and is provided as reference information for investment purposes. The contents are not formal operational forecasts or financial information, have not been audited by an accounting firm, and do not guarantee future financial performance. Actual performance may fluctuate significantly depending on future market conditions, business trends, and other factors.
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Financial Highlights Consolidated Financial Results for FY2024 369 billion yen Consolidated Financial forecast for FY2025 Sales Vs. previous year: -3.4 billion yen (-0.8%) 35.1 billion yen (43.8 billion yen before goodwill amortization) Operating income Overseas market sales increased and recorded the highest sales (Vs. previous year: +24.8 billion yen) In the domestic market, sales and operating income decreased due to a rebound effect from the previous year, when hardware replacements and system modifications increased due to the new banknote issuance. However, sales still exceeded the fiscal year ended March 2023, before the strong demand associated with new banknote issuance. Steady demand for self-service products both in the domestic and overseas market. The impact of the U.S. trade policy is still under review and has not been factored in. 4Initiatives to Increase Corporate Value Summary of financial Results Financial Forecast References Vs. previous year: -15.9 billion yen (-31.4%) 340 billion yenSales Vs. previous year: -29.0 billion yen (-7.9%) 21.5 billion yen (30.0 billion yen before goodwill amortization) Operating income Vs. previous year: -13.6 billion yen (-38.7%) [Japanese GAAP] [IFRS] 340 billion yenRevenues 28.5 billion yen Operating profit Planning to voluntarily adopt the International Financial Reporting Standards (IFRS) starting from the fiscal year ending March 2026.
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Impact of the U.S. tariff 6. Reduction of cross-shareholdings 7. Promoting human capital management using stocks 8. Strengthening Investor Engagement 9. Adoption of International Financial Reporting Standards Initiatives to Increase Corporate Value Challenges 1. First year’s progress of the “2026 medium-term management plan” 2. Overseas business growth strategy 3. Change to the Basic Policy on Profit Distribution and Dividends 4. Review of Cash allocation policy 5. Actions to achieve medium-term targets 2026 medium-term management plan • Sales • Operating income • Net income • ROE • ROIC / Business portfolio optimization • ROA • PBR Trends 5Initiatives to Increase Corporate Value Summary of financial Results Financial Forecast References
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2014 Medium-term Management Plan 2017 Medium-term Management Plan 2020 Medium-term Management Plan 2023 Medium-term Management Plan 2026 Medium-term Management Plan Changes in our PBR 0.89 0.99 1.09 1.29 1.24 1.26 0.85 0.81 0.74 0.61 0.83 0.69 0.65 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 PBR 1.0 PBR 1.0 April 11, 2018 The Ministry of Economy, Trade and Industry announced a cashless vision. → Stock prices plummet and stagnate Initiatives to Increase Corporate Value 6Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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24.1 21.7 18.7 15.3 7.2 58.4 285 38.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 FY2018 2019 2020 2021 2022 2023 2024 2025 2026 235.7 224.1 217.4 226.5 255.8 372.4 340.0 340.0 0 100 200 300 400 FY2018 2019 2020 2021 2022 2023 2024 2025 2026 Sales and operating income significantly surpassed the targets for FY2024, marking a successful first year of the medium-term management plan 1. First year’s progress of the “2026 medium-term management plan” Sales 369.0 ( Billion yen) Before goodwill amortization FY2024 Plans and Results 8.3%or more 6.6%or more 4.2%or more 30.6 billion yen Operating income 330 billion yenSales 44.8 billion yen Sales (new business domain) Plans Results 10.7% 9.9% 5.4% 43.8 billion yen 2026 Medium-term Management Plan Business EfficiencyNet sales ROE ROIC ROA (Billion yen) ¥145/$ ¥160/€ ¥140/$ ¥150/€ Recovery43.8 Operating income before goodwill amortization IFRS 7Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Before goodwill amortization 369 billion yen 51 billion yen ¥145/$ ¥160/€ ¥140/$ ¥150/€
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35.3 75.6 103 108.8 105.5 103.7 106.7 103.2 103.6104.7 127.8 155.9 185.2 210.0 216.0 204.0 2.9 9.1 12.6 13.5 14.3 14 15.1 12.4 13.6 8.3 10.1 7.1 13.8 16.9 24.0 27.0 8.2% 12.0% 12.2% 12.4% 13.6% 13.5% 14.2% 12.0% 13.1% 7.9% 7.9% 4.6% 7.5% 8.0% 11.1% 13.2% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 0 50 100 150 200 250 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Sales Operating income before goodwill amortization Operating margin before goodwill amortization 2. Overseas business growth strategy • Overseas business, especially retail industry, drives market growth as a key engine of the plan • Operating margin recovered smoothly • Sales and operating income of Acrelec and Flooid increased after the initial investment to support growth Trends in overseas sales and operating income before goodwill amortization Forecast MTP Steady Growth (Double in 5 years) Recovering profitability Sales / operating income ¥145/$ ¥160/€ ¥140/$ ¥150/€ (Billion yen) <Japanese GAAP> Operating profit before amortization of goodwill <IFRS> 8Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References COVID/ Semiconductors shortage/ Part price hike/Security incident Based on own calculations
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29.9 33.2 36.0 34.0 1.0 1.5 2.5 2.5 3.3% 4.5% 6.9% 7.4% FY2023 FY2024 FY2025 FY2026 FY2027 Sales Operating income before goodwill amortization Operating margin before goodwill amortization 9.4 12.1 13.0 15.0 1.2 2.7 1.9 3.6 12.8% 22.3% 15% 24% FY2023 FY2024 FY2025 FY2026 FY2027 Sales Operating income before goodwill amortization Operating margin before goodwill amortization Overseas: Food and Beverage industry Overseas: Retail industry Improve profitability Business growth while maintaining profitability ¥140/$ ¥150/€ ¥145/$ ¥160/€ ¥140/$ ¥150/€ (Billion yen) (Billion yen) 2. Overseas business growth strategy -Growth of acquired companies- 9Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References ¥140/$ ¥150/€ ¥145/$ ¥160/€ ¥140/$ ¥150/€ Based on own calculations (Reference/ Before Acquisition)
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In overseas market which are the engines of mid- to long-term growth • Business expansion, especially in the retail industry, and profitability improving • Certainty in the growth of acquired companies - Creating solutions for restaurants - Sales of cloud POS for retail stores is on track 3. Change to the Basic Policy on Profit Distribution and Dividends Add new target [3] Targets 1. Progressive dividends using the annual dividend paid for the fiscal year ended March 2024 (106 yen per share per year) 2. DOE (Dividends on Shareholders' Equity) 3% or more + 3. Total return ratio of 100% or more (for the fiscal years ending March 2026 and March 2027) Reasons for the change in policy 10Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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4. Review of Cash allocation policy Higher operating cash flows prospected Expand the shareholder returns limit for the 2026 medium-term management plan from ¥20 billion to ¥50 billion 11Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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62 64 66 66 68 68 106 20 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 108 112 FY2024 FY2025 FY2026 100th Anniversary Commemorative Dividend 6 billion yen 2.151 million shares 6 billion yen 1.434 million shares 10 billion yen 4.707 million shares Annual dividend per share (Yen) (forecast) 82 Dividend Payment of dividends per share Share Buybacks Achieving a total return ratio of 100% or more Interim Year-End Annual FY2025 Plan ¥56 ¥112¥56 ¥54 ¥108¥54 FY2024 Forecast Purpose of acquisition Improving capital efficiency Total number of shares to be acquired 15 billion yen (Maximum), 6 million shares (Maximum) (10.4% of 57,796,560 shares issued, excluding treasury shares) Period May 14, 2025 - May 13, 2026 Cancellation Number of all treasury shares acquired Trends of annual dividend and share buybacks (Plan) Dividend Share buybacks 15 billion yen 4. Review of Cash allocation policy Payout ratio before goodwill amortization: 30% or more (3 years average during the 2023MTP: 30.1%) 1) Progressive dividends 2) DOE (Dividends on Shareholders' Equity 3.0% or more Shareholders Return Target +3) Total return ratio of 100% or more + (Total return ratio 100% or more) 12Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References (Total return ratio 100% or more)
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Net Sales (New Business Domain ) 60 Billion yen or more 340 Billion yen or more 5. Actions to achieve medium-term targets After Goodwill amortization Before goodwill amortization ROE 10% or more 6% or more 8% or more 5% or moreROIC 5% or more 3% or moreROA 38Billion yen or more 30 Billion yen or more Operating Profit Net Sales FX rate applied: 1USD= 140 JPY , 1EUR=150 JPY FY2026 Target Business EfficiencyNet sales Achievement stories on the following pages 13Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References (Overall)
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103.2 103.6 104.7 127.8 155.9 185.2 210.0 216.0 204.0 56.6 42.2 49.8 36.0 36.2 78.4 54.4 37.0 40.0 51.9 52.4 49.0 47.8 45.5 74.7 69.7 61.0 67.0 20.5 20.7 11.0 12.1 15.1 28.2 27.7 19.0 21.0 3.3 5.0 2.6 2.6 2.9 5.8 7.0 7.0 8.0 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Overseas market Financial market Retail & transportation market Amusement market other Focused on responding to new banknote issuance in the domestic market (Sales: 10 billion yen) → Although sales decreased without ticket vending machine sales (+1 billion yen vs. previous year) Sales in the food and beverage industry and retail industry expanded in the overseas market (+21.9 billion yen vs. previous year) →Sales in North America exceeded 100 billion yen (+11.4 billion yen vs. previous year) Actions for FY2025-FY2026 Focus on boosting sales in retail and transportation market by meeting self-service demands to ease workforce shortages Expanding sales of retail and food/beverage industry in the overseas market Accelerate new business domain, Flooid and Acrelec, in addition to cash handling machines Actions and results in FY2024 New banknote issuance in Japan Sales Sales by segment 235.7 224.1 217.4 226.5 255.8 372.4 369.0 340.0 340.0 (Billion yen) 5. Actions for Sales ¥145/$ ¥160/€ ¥140/$ ¥150/€ <Japanese GAAP> <IFRS> Recovery of self-service solution demands in Japan Expansion of overseas demand 14Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Based on own calculations
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8.7 9.7 3.4 4.7 0.4 6.4 8.4 24.0 27.06.7 3.3 9.8 4.6 0.1 24.1 8.6 1.0 1.8 4.6 5.1 1.6 2.5 -0.5 10.5 9.8 0.7 3.7 1.9 1.9 -0.2 -0.3 1.6 10.0 8.5 3.3 5.6 -1.5 -2.3 -0.4 -1.4 -1.1 -0.1 -0.2 -0.5 -0.1 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Overseas market Financial market Retail & transportation market Amusement market other Actions for FY2025-FY2026Actions and results in FY2024 New banknote issuance in Japan Operating income In the domestic market, a high operating income rate was maintained even though sales decreased → The operating margin of the amusement market was over 30%, while the financial and retail/transportation markets had operating margins around 15% In overseas market , income from Acrelec and Flooid improved (+0.5 billion yen and +2.7 billion yen vs previous year). → In particular, Flooid's operating margin was over 20% Realizing revenue expansion with acquired companies → Revolution, Acrelec, Flooid, Showcase Gig, etc. Realizing high profitability in the Americas, which is positioned as a growth engine by accelerating business integration and enhancing maintenance service efficiency Increase in income from the overseas market and self-service solutions in Japan 20.5 17.9 14.2 10.1 0.5 51.1 35.1 28.5 38.0 (Billion yen) 5. Actions for Operating income 15Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References ¥145/$ ¥160/€ ¥140/$ ¥150/€ <Japanese GAAP> <IFRS> Based on own calculations
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12.2 8.4 5.7 6.4 -9.5 29.5 16.0 17.0 25.0 5. Actions for net income Net income attribute to owners of parent (Billion yen) 16Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Actions for FY2025-FY2026Actions and results in FY2024 <Japanese GAAP> <IFRS> New banknote issuance in Japan In the domestic market, a high operating income rate was maintained even though sales decreased → The operating margin of the amusement market was over 30%, while the financial and retail/transportation markets had operating margins around 15% In overseas market , income from Acrelec and Flooid improved (+0.5 billion yen and +2.7 billion yen vs previous year). → In particular, Flooid's operating margin was over 20% Realizing revenue expansion with acquired companies Realizing high profitability in the Americas, which is positioned as a growth engine by accelerating business integration and enhancing maintenance service efficiency Minimizing the impact of FX rates by strengthening global exchange risk management Based on own calculations
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6.5% 4.5% 3.0% 3.2% -4.8% 14.1% 6.9% 8.1% 11.8% 12.2 8.4 5.7 6.4 -9.5 29.5 16.0 17.0 25.0 189.2 184.7 193.2 205.3 193.1 227.7 235.3 210.9 213.4 ROE= 【Achievements】 In the domestic market, a high operating income rate was maintained even though sales decreased In overseas market , income from Acrelec and Flooid improved 【Plan】 Realizing revenue expansion with acquired companies Realizing high profitability in the Americas, which is positioned as a growth engine 【Achievements】 Effectively utilize interest-bearing debt while taking into consideration the ownership equity ratio and D/E ratio (raise 14.2 billion yen cash through bonds issuance ) 【Plan】 Strengthening shareholders' returns (Achieving a total payout ratio of 100% or more by increasing dividends and share buybacks and cancellations) Consideration of debt levels based on optimal capital structure Net income (Billion yen) 5. Actions for ROE Actions for Ownership equity Action for Net income Before FY2024 Net income attributable to owners of parent (Billion yen) Ownership equity ROE target : 10% (before goodwill amortization) 17Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References <Japanese GAAP> <IFRS> New banknote issuance in Japan Based on own calculations
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242.7 236.2 244.6 265.3 282.6 328.9 324.8 303.1 301.1 5.7% 5.2% 3.4% 1.6% -0.6% 11.4% 7.3% 6.5% 8.8% 13.5 12.4 8.0 3.9 -1.5 34.7 23.7 19.9 26.6 【Achievements】 In the domestic market, a high operating income rate was maintained even though sales decreased In overseas market , income from Acrelec and Flooid improved 【Plan】 Realizing revenue expansion with acquired companies Realizing high profitability in the Americas, which is positioned as a growth engine Actions for Interest-bearing liability + Total equity Action for NOPAT Net operating income after tax (NOPAT) Interest-bearing liability + Total equity ROIC＝ (Billion yen) (Billion yen) 【Achievements】 Reducing inventories that increase by addressing new banknote issuance (-15 billion yen vs. previous year) Reducing interest-bearing liabilities through early repayment of borrowings (-12 billion yen vs. previous fiscal year) 【Plan】 Optimizing business portfolio (improving/withdrawing from unprofitable businesses and investment in highly profitable businesses) Improve efficiency by reducing operating cash , such as inventories and accounts receivable Strengthening shareholders' returns (Achieving a total payout ratio of 100% or more by increasing dividends and share buybacks and cancellations) 5. Actions for ROIC ROIC target : 8% (before goodwill amortization) 18Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References New banknote issuance in Japan <Japanese GAAP> <IFRS> Based on own calculations
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5. Actions for ROIC [Optimizing business portfolio] Concentrate resources on highly profitable and promising businesses to improve profitability Business prospects ( Products life cycle, markets size, competitive advantage, growth potential) Capital Return (Business ROA, past financial results , investment recovery) Hurdle Rate 6% or more Profitable business Low profit business (deficit) High Low Low High 19Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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4.0% 2.7% 1.8% 1.8% -2.6% 7.0% 3.5% 3.8% 5.6% 12.2 8.4 5.7 6.4 -9.5 29.5 16.0 17.0 25.0 318.2 308.4 330.6 363.2 381.2 469.2 441.6 445.4 443.5Total assets ROA＝ (Billion yen) (Billion yen) 5. Actions for ROA ROA target : 5% (before goodwill amortization) Before FY2024 net income attributable to owners of parent Actions for Total assets 20Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Net income 【Achievements】 In the domestic market, a high operating income rate was maintained even though sales decreased In overseas market , income from Acrelec and Flooid improved 【Plan】 Realizing revenue expansion with acquired companies Realizing high profitability in the Americas, which is positioned as a growth engine Action for Net income <Japanese GAAP> <IFRS> 【Achievements】 Reducing inventories that increase by addressing new banknote issuance (-15 billion yen vs. previous year) Reducing interest-bearing liabilities through early repayment of borrowings (-12 billion yen vs. previous fiscal year) 【Plan】 Optimizing business portfolio (improving/withdrawing from unprofitable businesses and investment in highly profitable businesses) Improve efficiency by reducing operating cash , such as inventories and accounts receivable Strengthening shareholders' returns (Achieving a total payout ratio of 100% or more by increasing dividends and share buybacks and cancellations) Based on own calculations
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7 7 6 8 7 3.7% 3.2% 2.9% 3.4% 3.0% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 0 2 4 6 8 10 12 14 FY2020 FY2021 FY2022 FY2023 FY2024 Consolidated equity Cross-shareholdings ratio Nikkei 225 6. Reduction of cross-shareholdings investment target company's business strategies and transaction status Taking into consideration all factors, our policy is to hold shares in such companies only when we believe that maintaining and strengthening relationships with such companies will contribute to increasing the corporate value of our group. Reducing cross-shareholdings Basic policy Holding shares if maintaining and strengthening the relationship with the investee company is deemed to enhance our group's corporate value. Measures We have been selling cross-shareholdings as the price of Nikkei 225 has risen by 150% over the past 4 years. As of the end of March 2025, the ratio of cross-shareholdings to consolidated equity is 3.0%. Reduction of cross-shareholdings (Billion yen) ¥24,588 ¥28,179 ¥27,235 ¥33,685 ¥38,473 In FY2024 Sold 10 stock brands 21Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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7. Promoting human capital management using stocks By providing stock incentives to directors and management, and increasing engagement, we will be able to enhance corporate value. Initiatives Target Audience Implementation period 1. Increase in the proportion of performance-based compensation in executive compensation (from 20% to 30% of compensation) Internal Directors (Not an audit and supervisory committee member) June 2024 (Reflected in FY2024’s compensation) 2. Expanding the scope of Employee Stock Ownership Plans (Expanding eligibility to section manager and above) • GLORY LTD. employees (management positions) • President of domestic subsidiaries August 2024 (Reflected in FY2024’s compensation) 3. Incentives to Employee Stock Ownership Association All employees "10%" has been introduced Purpose Increasing motivation to contribute to raising financial performance and increasing corporate value Points • Sharing values with shareholders • Increase the linkage of the compensation system to financial performance • Shift to competitive salary levels to attract talented personnel Further promoting human capital management to become a more competitive company 22Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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Activities Results approacher Financial results presentation 4 times President, Senior executive manager of Management strategies HQ Securities company- sponsored conferences 2 times President, Senior executive manager of Management strategies HQ IR event 1 time President, Senior executive manager of Management strategies HQ Head of Overseas/Domestic Companies 1 on 1 /SR dialogue A total of 175 people President, Senior executive manager of Management strategies HQ Dialogue with investment in FY2024 8. Strengthening Investor Engagement Topics of the dialogue Topics Main Contents Business Overview Our strengths, market share, markets environment Financial performance Factors behind changes in operating income , overseas net sales , and demand to address new banknote issuance Business strategies Outlook for overseas business , addressing to cashless trend (including new business domain ) Management Policy 26 Medium-term Plan (PBR1x: capital policy, financial strategies , shareholders returns) Requests Our approach Contents Capital Return Improving capital profitability with consideration of capital costs Enhancement of shareholders' return Changed Basic Policy on Profit Distributions Added "Total payout ratio of 100% or more (FY2026-FY2027)" IR Enhancement Enhancement of information disclosure Financial Results Presentation Materials Disclose information of high interest to investor as topics Enhancing English disclosure Simultaneous disclosure of financial results, presentation materials, and integrated reports in Japanese and English Improving awareness among investor Improving the Integrated report Further expansion reflecting the opinions of investor Introducing sponsored research reports Introduced Quick/Nomura Corporate Research reports Changes based on the dialogue 23Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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9. Adoption of International Financial Reporting Standards 1. Purpose of Voluntary adoption of International Financial Reporting Standards Aiming of providing stakeholders with highly useful information by enhancing the international comparability of its financial information. 2. Disclosure Schedule (Reference/planned) Timing of Disclosure Disclosure materials Accounting Standards May 2026 Consolidated financial results for the year ending March 31, 2026 IFRS June 2026 Annual Securities Report for the year ending March 31, 2026 IFRS From the fiscal year ending March 2026, we voluntary adopt to International Financial Reporting Standards (IFRS). 24Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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Challenges: The impact of the US trade policy Due to the fluid state of the US government's tariff policy, predicting the exact impact is challenging. Financial Forecasts Basic Stance The impact is currently under review and has not been factored into financial forecasts for the fiscal year ending March 2026. We will promptly announce any matters that require disclosure once the details of the impact become clear. Our basic stance is to pass on the increase costs caused by tariff to sales prices. However, we are not currently able to determine the impact of this price transfer on demand for products and services forecast. 25Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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Summary of Financial Results Yukiya Tanaka Executive Officer; Executive General Manager, Management strategies Headquarters 2 Financial results for the Year ended March 31, 2025
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Full Year Progress (vs. plan) FY2023 FY2024 Full year ￥ ￥ ￥ ￥Euro 157 164 -18.0% Exchange rate US$ 145 153 EBITDA 72.2 19.4% 59.2 16.0% -13.0 135.2% -45.8% -41.1% Net Income Attributable to Owners of Parent 29.5 7.9% 16.0 4.3% -13.5 160.0% 12.9% 28.4 7.7% -19.8 149.5% -31.3% -5.7% Operating Income 51.1 13.7% 35.1 9.5% -16.0 159.5% 130.0% 111.8% -8.0 -3.4 -0.9% Ratio Ratio Y-on-Y(Billions of yen) Net Sales 372.4 100.0% 369.0 100.0% Maintenance Sevices 140.6 37.8% 132.6 35.9% Ordinary Income 48.2 Financial Results *EBITDA = Operating income + depreciation and amortization + goodwill amortization * Sales Income Decreased due to termination of demand for new banknote issuance, although solution sales for overseas retail industry increased Decreased due to the reduction of high-profit system modifications associated with the new banknote issuance Ordinary income and net income also decreased by interest payments and FX losses 27Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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Factors of Operating Income Gap 51.1 (Billion yen) FY2023 Decreased sales -16.0 -9.5 -4.8 -1.5 Sales – decreased • The domestic market sales decreased from the second half, due to the termination of demands for machine replacements and system modifications associate to new banknote issuance. Cost of Goods ratio – Increased • Cost increased and the operating rate dexreased due to inventory reduction. SG&A expenses - Increased • Due to higher costs at overseas subsidiaries Operating Margin 13.7% 35.1 28Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Increased Cost of Goods ratio Increased SG&A expenses Operating Margin 9.5% FY2024
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Sales Operating Income Full year Full year FY2023 FY2024 FY2023 FY2024 % % % % % % % % % % % % 185.2 109% 109% 124% 111% 100% -6.7 -64.3 9.8 112% 93% 172% 392% 131% - 160% Progress (vs. plan) Progress (vs. plan) -0.7 78.4 74.7 28.2 5.8 372.4 6.4 24.1 10.5 10.0 (Billions of yen) Overseas Market Financial Market Retail & Transportation Market Amusement Market Others Total -3.4369.0 +1.2 -6.7 8.5 69.7 27.7 -1.8 -16.0 -31.3 -01.5 -15.0 Y-on-Y +24.8 +2.0 +13.4 +31.3 -0.1 51.1 +20.7 -0.1 -0.9 -30.6 35.1 -5.0 210.0 -0.2 -0.5 8.4 Y-on-Y -15.5 - 54.4 8.6 7.0 -24.0 Sales & Operating Income by Business Segment Sales increased, supported by robust sales in the European and American retail industry. Profitability in the Americas improved. Sales and income decreased due to the termination of demands for new banknote issuance. Overseas Domestic Goodwill amortization : ¥8.6 billion [Operating income before goodwill amortization] Overseas market: ¥17.0 billion, Consolidated: ¥43.8 billion Goodwill Amortization 29Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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-2.0 0.0 2.0 4.0 6.0 8.0 10.0 1Q 1-2Q 1-3Q 1-4Q Plan Result 0.0 50.0 100.0 150.0 200.0 250.0 1Q 1-2Q 1-3Q 1-4Q Plan R esult Full year % pt % % % pt FY2023 FY2024 (Billions of Yen) Y-on-Y FY2023 FY2024 Sales +24.8 +13.4 Sales ratio +7 Operating income +2.0 +31.3 Operating margin 3.5 4.0 +0.5 6.4 8.4 185.2 210.0 24.4 23.2 23.7 24.2 22.8 34.1 22.5 27.3 32.1 33.8 4.4 -1.7 1.8 4.3 4.0 - 15 - 13 - 11 -9 -7 -5 -3 -1 1 3 5 7 0 .0 2 0. 0 4 0. 0 6 0. 0 8 0. 0 4Q 1Q 2Q 3Q 4Q w/o Products Products Operating income 57%50% Overseas market Summary Progress (vs. plan) Sales Operating income (Billion yen) (Billion yen) Progress 109% (vs. FY2024 plan) 30Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Sales Results Increased due to growing demand in each region Backgrounds Large orders in the U.S. and Flooid's financial performance also contributed Future efforts Continuing to expand sales Operating income Results Increased supported by strong sales in each region Backgrounds Profitability in the Americas recovered Future efforts Continuing to expand sales and improving profitability Progress 93% (vs. FY2024 plan)
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Progress (vs Plan) Full year Americas EMEA Asia Total overseas sales Local currency basis (Billions of yen) FY2023 Full Year FY2024 Full Year Y-on-Y 89.4 100.8 +11.4 +12.8% +6.9% 106% GGS 83.5 87.5 +4.0 +4.8% -0.6% 105% Acrelec 4.9 6.3 +1.4 +28.6% +21.6% 113% Flooid 1.0 7.0 +6.0 +600.0% +558.2% 123% 79.4 90.0 +10.6 +13.4% +7.3% 111% GGS 41.4 45.1 +3.7 +8.9% +3.6% 114% Sitrade 13.8 16.6 +2.8 +20.3% +14.0% 106% Acrelec 23.3 23.1 -0.2 -0.9% -6.1% 113% Flooid 0.9 5.0 +4.1 +455.6% +410.6% 94% 16.3 19.1 +2.8 +17.2% +11.2% 119% GGS 14.7 15.4 +0.7 +4.8% -0.6% 110% Acrelec 1.6 3.7 +2.1 +131.3% +119.2% 185% 185.2 210.0 +24.8 +13.4% +7.5% 109% GGS 139.6 148.1 +8.5 +6.1% +0.6% 108% Sitrade 13.8 16.6 +2.8 +20.3% +14.0% 106% Acrelec 29.9 33.2 +3.3 +11.0% +5.2% 118% Flooid 1.9 12.1 +10.2 +536.8% +487.3% 110% Sales by Geographical Segment of Overseas Market 31Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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Progress (vs. plan) Full year % % % % (Billions of yen) FY2023 Full Year FY2024 Full Year Y-on-Y Local currency basis Americas 89.4 100.8 +11.4 +6.9% 106%+12.8 GGS 83.5 87.5 +4.0 -0.6% 105%+4.8 Acrelec 4.9 6.3 +1.4 +21.6% 113%+28.6 Flooid 1.0 7.0 - +558.2% 123%- Americas 44.3 51.4 45.0 49.4 FY2023 FY2024 Products w/o Products 40.8 51.3 43.6 43.2 4.9 6.3 FY2023 FY2024 F&B Financial Retail Sales breakdown Sales by market Financial TCR sales were weak. Sales from maintenance services have increased. Robust sales of CI-series in the retail industry and drive-thru solution in the food & beverage industry.Products Sales of maintenance services increased. Flooid's software sales contributed. w/o Products Sales of CI-series and maintenance service were robust. Flooid's financial performance also contributed.Retail Sales of drive-thru systems for major F&B companies increased.F&B (Billion yen) (Billion yen) 89.4 100.8 32Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Promoting business integration activities between GGS Inc. and Revolution group Steady progress in large-size order from a major retailer, a Revolution’s customer Market Trends & Topics 89.4 100.8
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Progress (vs. plan) Full year % % % % % (Billions of yen) FY2023 Full Year FY2024 Full Year Y-on-Y Local currency basis EMEA 79.4 90.0 +10.6 +7.3% 111%+13.4 GGS 41.4 45.1 +3.7 +3.6% 114%+8.9 Sitrade 13.8 16.6 +2.8 +14.0% 106%+20.3 Acrelec 23.3 23.1 -0.2 -6.1% 113%-0.9 Flooid 0.9 5.0 - +410.6% 94%+455.6 28.2 36.2 27.8 30.6 23.3 23.1 FY2023 FY2024 F&B Financial Retail 31.1 35.4 48.3 54.5 FY2023 FY2024 Products w/o Products EMEA Financial TCR sales are robust in Spain. Steady sales of products for the back offices of the retail industry and TCR for financial institutionsProducts Increased maintenance services sales. Flooid’s software sales contributed. w/o Products CI sales in Germany and the U.K. were robustRetail Sales of kiosks for the food and beverage industry were sluggish, with less growth in the major country, France. F&B (Billion yen) (Billion yen) 79.4 90.0 33Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Received large order from a financial institution in Italy Increased sales of CI-series in major countries such as Germany and U.K. Increased sales of products for financial institutions in the U.K., Spain and Switzerland Market Trends & Topics Sales breakdown Sales by market 79.4 90.0
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Progress (vs. plan) Full year % % %Acrelec 1.6 3.7 +2.1 +119.2% 185%+131.3 Asia 16.3 19.1 +2.8 +11.2% 119%+17.2 GGS 14.7 15.4 +0.7 -0.6% 110%+4.8 (Billions of yen) FY2023 Full Year FY2024 Full Year Y-on-Y Local currency basis 2.7 2.8 12.0 12.6 1.6 3.7 FY2023 FY2024 F&B Financial Retail 6.7 8.1 9.5 11.0 FY2023 FY2024 Producst w/o Products Asia Sales breakdown Sales by market Financial Robust sales of banknote sorters in Hong Kong and India. Increased sales in the F&B industry.Products Increased maintenance services sales in the F&B industry.w/o Products Steady sales of products for the back offices of the retail industry.Retail Increased kiosks sales in Japan.F&B (Billion yen) (Billion yen) 16.3 19.1 *Including Acrelec's sales in Japan 34Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Increased sales of self-service kiosks mainly in Japan Market Trends & Topics 16.3 19.1
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Progress (vs Plan) Full year 53% 58% 47% 41% +2.7 After goodwill amortization -0.5 1.4 +1.9 Operating income Before goodwill amortization 0.0 2.7 EMEA 0.9 5.0 110%+10.2 Americas 1.0 7.0 +6.0 123% +4.1 94% (Billions of yen) FY2023 Full Year FY2024 Full Year Y-on-Y Sales 1.9 12.1 Progress (vs Plan) Full year 16% 19% 78% 70% 5% 11% +0.5 After goodwill amortization 0.3 0.7 +0.4 Operating income Before goodwill amortization 1.0 1.5 -0.2 113% Asia 1.6 3.7 +2.1 185% EMEA 23.3 23.1 118%+3.3 Americas 4.9 6.3 +1.4 113% (Billions of yen) FY2023 Full Year FY2024 Full Year Y-on-Y Sales 29.9 33.2 Americas EMEA Asia Acrelec and Flooid Americas EMEA 35Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Sales of self-service kiosks and drive-thru systems to major F&B companies were strong. Maintenance sales remained steady. Growth in France was less significant. Sales of self-service kiosks in Japan were strong. Steady progress in securing orders from new and existing customers. Steady sales performance centered on SaaS business. *Flooid is included in the consolidated financial results from Q4 FY2023
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0.0 2.0 4.0 6.0 8.0 10.0 1Q 1-2Q 1-3Q 1-4Q Plan Result 0.0 10.0 20.0 30.0 40.0 50.0 60.0 1Q 1-2Q 1-3Q 1-4Q Plan Result Full year % pt % % % pt FY2023 FY2024 (Billions of Yen) Y-on-Y FY2023 FY2024 Sales -24.0 -30.6 Sales ratio -6 Operating income -15.5 -64.3 Operating margin 30.7 15.8 -14.9 78.4 54.4 24.1 8.6 7.3 4.3 3.1 3.7 3.8 15.4 8.4 10.9 11.7 8.0 5.1 2.8 2.2 2.6 0.9 - 16 .0 - 11 .0 - 6. 0 - 1. 0 4 .0 9 .0 0 .0 1 0. 0 2 0. 0 3 0. 0 4Q 1Q 2Q 3Q 4Q w/o Products Products Operating income 15%21% Summary Progress (vs. plan) Financial Market (billion yen) (billion yen) 36Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Operating income Results Decreased due to decline sales related to the new banknote issuance. Backgrounds Decreased due to reduction of hardware replacement and system modifications. Future efforts Expand sales of self-service solutions and main products. Sales Results Decreased due to the reactionary decline following the new banknote issuance, while maintaining a high level. Backgrounds The installation of the large order has progressed as planned. Future efforts Expand sales of self-service solutions. Sales Operating incomeProgress 109% (vs. FY2024 plan) Progress 172% (vs. FY2024 plan)
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0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 1Q 1-2Q 1-3Q 1-4Q Plan Result 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 1Q 1-2Q 1-3Q 1-4Q Plan Result Full year % pt % % % pt FY2023 FY2024 Operating margin 14.1 14.1 +0.0 Sales ratio -1 Operating income -0.7 -6.7 (Billions of Yen) Y-on-Y FY2023 FY2024 Sales -5.0 -6.7 74.7 69.7 10.5 9.8 4.9 5.8 5.3 4.2 3.9 17.8 18.1 12.2 9.8 10.1 3.4 6.4 2.2 1.0 0.0 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 8 9 0 .0 1 0. 0 2 0. 0 3 0. 0 4Q 1Q 2Q 3Q 4Q w/o Products Products Operating income 19%20% Retail and Transportation Market Summary Progress (vs. plan) Sales Operating incomeProgress 111% (vs. FY2024 plan) Progress 131% (vs. FY2024 plan) (billion yen) (billion yen) 37Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Sales Results Decreased due to the reactionary decline following the new banknote issuance. Backgrounds The demand for hardware replacement and system modifications related to the new banknote issuance terminated from the second half of the year. Future efforts Expand sales of self-service solutions. Operating income Results Decreased due to decline of new banknote issuance related sales Backgrounds Sales of high-profit products and maintenance decreased from the second half of the year. Future efforts Aiming to maintain and improve the profitability of smart amusement machine-related products.
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0.0 2.0 4.0 6.0 8.0 10.0 1Q 1-2Q 1-3Q 1-4Q Plan Result 0.0 5.0 10.0 15.0 20.0 25.0 30.0 1Q 1-2Q 1-3Q 1-4Q Plan Result Full year % pt % % % pt FY2023 FY2024 Operating income -1.5 -15.0 Operating margin 35.5 30.7 -4.8 Sales -0.5 -1.8 Sales ratio 0 (Billions of Yen) Y-on-Y FY2023 FY2024 28.2 27.7 10.0 8.5 1.8 1.8 0.8 0.5 0.4 5.1 6.7 6.9 6.2 4.1 2.5 3.0 2.3 2.2 0.8 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 0 .0 2 .0 4 .0 6 .0 8 .0 1 0. 0 1 2. 0 4Q 1Q 2Q 3Q 4Q w/o Products Products Operating income 8%8% Summary Progress (vs. plan) Sales Operating incomeProgress 109% (vs. FY2024 plan) Progress 172% (vs. FY2024 plan) Amusement Market (billion yen) (billion yen) 38Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Operating income Results Decreased as a result of the reduction in sales of main products and maintenance. Backgrounds Higher sales of products with high profit margins and main products in the 1st half. Future efforts Maintain the operating margin of the smart amusement machines related products. Sales Results Comparable to the previous year due to increased sales of peripheral equipment and demands related to the new banknote issuance. Backgrounds The demand for hardware replacement and system modifications related to the new banknote issuance terminated from the second half of the year. Future efforts Monitor the demand for smart amusement machines.
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Summary of Financial Forecasts Yukiya Tanaka Executive Officer; Executive General Manager, Management strategies Headquarters 3 Financial forecast for the Year ending March 31, 2026
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Business environment for FY2025 40Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Overseas market Americas Demand are steady due to major retailer’s appetite for capital investment remain high. The impact from the U.S. tariffs policy is under review. EMEA Continuing hardware replacement demand of back-office products at major retailers. Asia Capital investment by financial institutions is slightly sluggish. Financial market Despite the investment willingness, demand temporarily decreased due to the completion of new banknote adaptation. However, there is strong demand for products and services that support small-scale store operations. Retail and transportation market Demand for self-service solutions remains steady by labor shortages in retailer and restaurants. Amusement market The demand for smart slot-related products has completed. Monitor the demand fluctuations due to new regulations that will be released on July 7, 2025.
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FY2024 FY2025 Full Year Full Year (Forecast) ￥ ￥ ￥ ￥ Ratio 369.0Net Sales Y-on-Y Ratio -29.0 -7.9% Euro 145 160 EBITDA 16.0 59.2 164 36.5% 6.3% Net Income Attributable to Owners of Parent Operating Income Ordinary Income 100.0% 5.7% (Billions of yen) 340.0 100.0% US$ 153 35.1 Maintenance Sevices Exchange rate 45.3 2.9% 124.0 36.5% 21.5 44.6% 4.3% 35.9% 9.5% 132.6 10.0 7.7%28.4 -37.5% 19.5 -6.0 -23.5% -31.3% -13.9 -8.9 -13.6 -38.7% -8.6 -6.5% FY2025 Forecast *EBITDA = Operating profit/loss + depreciation and amortization + goodwill amortization * Although the recovery trend in overseas business continues, domestic business income has decreased due to the decline in sales following the new banknote issuance. Sales to retail and the F&B industry in Europe and the U.S. will increase. Domestic sales will decrease due to rebound effect from the demand for new banknote issuance. IFRS (Billion yen) FY2025 Forecast Revenue 340.0 Operating profit 28.5 Profit attributable to owners of parent 17.0 Basic earnings per share 304.71 yen 41Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Sales Income
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Sales Operationg Income FY2024 FY2025 FY2024 FY2025 Full Year Full Year(Forecast) Full Year Full Year(Forecast) % % % % % % % % % % % % 216.0 6.0 69.7 27.7 7.0 369.0 8.4 8.6 9.8 8.5 -0.2 35.1 -0.5 1.0 0 -8.7 0.0 7.6 -8.8 +2.9 Total 210.0 54.4 Amusement Market (Billions of yen) -38.7 3.5 - -89.8 -7.9 -0.3 19.0 -5.0 -7.1 Y-on-YY-on-Y 1.5 -82.6 -13.6 Others -31.4 -29.0 +90.5 21.5 7.0 -58.8 -12.5 -17.4 -8.7 Financial Market 340.0 Retail & Transportation Market 37.0 61.0 -32.0 Overseas Market 16.0 FY2025 Forecast [IFRS] (Billion yen) Revenue Operating profit 216.0 24.0 37.0 1.0 61.0 0.7 19.0 33.0 7.0 -0.5 340.0 28.5 FY2025 Forecast Sales & Operating Income by Business Segment Sales and income increase by capturing large projects in the retail and food and beverage industry. Sales and income decrease due to the completion of hardware replacement demands. Sales and income decrease due to the completion of hardware replacement and system modification demands. Sales of card system are expected to shift from smart-slot to smart-pachinko, resulting in a temporary decline in demand. 42Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Overseas Market Financial Market Retail & Transportation Market Amusement Market
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Full Year FY2024 FY2025 (Forecast) 58% 58% 41% 42% (Billions of yen) Y-on-Y Sales +0.9 Americas 7.0 7.5 +0.5 EMEA 5.0 5.5 +0.5 Operating income Before goodwill amortization 2.7 1.9 -0.8 After goodwill amortization 1.4 0.6 -0.8 12.1 13.0 Full Year FY2024 FY2025 (Forecast) 19% 19% 70% 69% 11% 11% 1.7 +1.0 Asia 3.7 4.0 +0.3 Operating income Before goodwill amortization 1.5 2.5 +1.0 After goodwill amortization 0.7 Americas 6.3 7.0 +0.7 EMEA 23.1 25.0 +1.9 (Billions of yen) Y-on-Y Sales +2.833.2 36.0 Full Year FY2024 FY2025(Forecast) Local currency basis Americas GGS Acrelec Flooid EMEA GGS Sitrade Acrelec Flooid Asia GGS Acrelec GGS Sitrade Acrelec Flooid 12.1 13.0 +0.9 +7.4% +12.9% +6.6% 16.6 17.0 +0.4 +2.4% +7.7% -15.6% -11.3% 4.0 +0.3 +8.1% +5.9% 16.6 17.0 +0.4 +2.4% +7.7% 25.0 +1.9 +8.2% +13.6% 5.5 +0.5 +10.0% +14.4%5.0 87.5 91.5 +4.0 +4.6% +10.1% 6.3 7.0 +0.7 +11.1% +16.5% +3.3% +8.7% (Billions of yen) Y-on-Y 100.8 106.0 +5.2 +5.2% +10.6% 7.5 +0.5 +7.1% +11.8% 90.0 93.0 +3.0 7.0 45.1 23.1 +2.8 +8.4% 45.5 +0.4 +0.9% 150.0 +1.9 +1.3% 33.2 36.0 19.1 15.4 3.7 +12.7% 17.0 -2.1 Total overseas sales -11.0% -6.6% 13.0 -2.4 +14.1% 210.0 216.0 +6.0 +2.9% +8.2% 148.1 FY2025 Forecast 43Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Sales by Geographical Segment of Overseas Market
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References
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Net sales Cost of sales Operating income Non-operating income Non-operating expenses Ordinary income Extraordinary income Extraordinary loss Income taxes Net Income Valuation difference on available-for-sale securities Foreign currency translation adjustmentRemeasurements of defined benefit plans Total other comprehensive income Comprehensive income Selling, general and administrative expenses Income before income taxes and minority interests 209.8 56.3% +3.0 0.1% +0.5 1.4 0.4% +2.2 57.7% 121.0 32.8% 35.1 - 46.6 12.5% (Billions of yen) Y-on-YRatio 111.4 29.9% +9.6 51.1 13.7% -16.0 372.4 100.0% -3.4 FY2023 Full Year Net income attributable to owners of parent 29.5 7.9% -13.5 3.6 1.0% 10.3 2.8% 28.4 - 0.7 0.2% 1.2 0.3% 27.8 48.2 12.9% -19.8 0.2 Net Income 4.2 1.1% +6.1 11.4 -0.2 -36.8 14.8 -16.2-1.4 1.3 -1.5 5.5 -5.2 21.7 5.8% -23.0 0.3 -1.3 -0.4% 15.1 4.1%51.9 13.9% 1.8 0.5% -0.6 -18.8 30.1 - -13.7 16.4 4.4% -5.0 30.1 8.1% -13.7 16.4 4.4% - 3.1% 16.4 - 16.0 - 100.0% 212.8 FY2024 Full Year Ratio 369.0 Consolidated Statement of Income & Statement of Comprehensive Income 45Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References FY2024 Financial Results
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Current assets 228.6 469.2 -8.2 -24.2 -17.0 -49.4 -1.7 +16.1 +14.4 -35.0 0 +8.2 -0.8 +7.4 -27.6 236.0 441.6 93.8 205.5 12.8 175.2 48.0 58.5-0.1 -4.0 -5.5 -1.0 -10.4 +1.7 -8.7 -27.6 Notes and accounts payable-trade Short-term loans payable Other Long-term loans payable Other Capital stock Retained earnings Other Total current liabilities Noncurrent liabilities Total net assets Total liabilities Total liabilities and net assets (Billions of yen) As of March 31, 2024 Increase/ Decrease Increase/ Decrease +16.3 -21.5 -15.4 +1.7 -18.8 37.0 19.7 72.5 111.6 35.3 As of March 31, 2025 19.3 161.0 27.5 89.5 43.9 Total assets Customer relationships Goodwill Other Intangible assets Total investments and other assets 14.2 57.0 32.8 66.0 13.2 112.1 Total noncurrent assets 35.2 90.0 Cash, deposits and Securities Notes and accounts receivable-trade Inventories (Billions of yen) As of March 31, 2024 As of March 31, 2025 48.8 122.5 167.0 79.4 46.1 42.4 240.5 12.8 71.5 58.7 36.8 Other Property, plant and equipment 51.5 68.5 95.6 8.8 224.6 46.0 243.4 469.2 225.7 217.0 441.6 7.1 111.0 FY2024 Financial Results 46Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Consolidated Balance Sheet
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FY2023 FY2024 Full Year Full Year 41.8 -33.5 -13.9 35.1 45.7 -7.9 -21.2 51.4 8.2 37.8 +29.5 Cash and cash equivalents at end of period +16.3 Cash flows from operating activities +3.9 (Billions of yen) Increase/ Decrease -7.3 Cash flows from investing activities +25.6 Cash flows from financing activities Free cash flows 47Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References FY2024 Financial Results Consolidated Statement of Cash Flows
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Sales Operating Income Total 370.0 369.0 Others 7.0 (Billions of yen) FY2024 (Latest forecast) FY2024 vs. forecast FY2024 (Latest forecast) FY2024 vs. forecast Overseas Market 213.0 210.0 98.6% 9.0 8.4 93.3% 7.0 100.0% -0.5 -0.2 - Financial Market 53.5 54.4 101.7% 6.7 8.6 128.4% 101.8% 8.8 9.8 111.4% Amusement Market 28.0 27.7 98.9% 8.0 8.5 106.3% Retail & Transportation Market 68.5 69.7 99.7% 32.0 35.1 109.7% FY2024 Financial Results Sales & Operating Income by Business Segment (vs. Forecast) 48Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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-9.8% +15.0% +2.1% Quarterly trend +0.4 FY2023 FY2024 Capital expenditures -1.3 Depreciation and amortization +2.0 (Billions of yen) Y-on-Y R&D investment 13.2 11.9 13.3 15.3 19.5 19.9 4.8 3.3 2.7 2.6 3.3 FY23 （4Q） FY24 （1Q） FY24 （2Q） FY24 （3Q） FY24 （4Q） 3.5 3.5 3.4 4.4 4 FY23 （4Q） FY24 （1Q） FY24 （2Q） FY24 （3Q） FY24 （4Q） 5.7 4.5 4.8 4.9 5.7 FY23 （4Q） FY24 （1Q） FY24 （2Q） FY24 （3Q） FY24 （4Q） FY2024 Financial Results 49Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References CAPEX, Depreciation & Amortization, and R&D
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1st Harf 2nd Harf Full Year FY2024 FY2025(Forecast) FY2024 FY2025(Forecast) FY2024 FY2025(Forecast) Y-on-Y ￥ ￥ ￥ ￥ ￥ ￥ ￥ ￥ ￥ ￥ ￥ ￥ ￥ ￥Euro Billions of yen -29.0 -7.9% Maintenance Sevices 68.5 61.5 64.1 62.5 15.7 132.6 124.0 -8.6 -6.5% 19.1 5.8 16.0 185.0 156.0 184.0 184.0 369.0 340.0 35.1 21.5 -13.6 Net Sales 164 160 -4 14.3 4.8 14.1 14.7 28.4 19.5 -8.9 -31.3% 7.3 1.6 8.7 8.4 16.0 10.0 -6.0 -37.5% 30.9 153 -38.7% Operating Income Ordinary Income 145 153 145 153 145 -8 17.6 28.3 27.7 59.2 45.3 -13.9 -23.5% US$ Net Income Attributable to Owners of Parent EBITDA Exchange rate 166 160 161 160 FY2025 Financial Forecast 50Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References
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First half Second half Full-year FY2024 FY2025 (Forecast) FY2024 FY2025 (Forecast) FY2024 FY2025 (Forecast) Y-on-Y Billions of yen Overseas Market 96.8 100.0 113.2 116.0 210.0 216.0 6.0 0.1 4.0 8.3 12.0 8.4 16.0 7.6 Financial Market 26.9 17.0 27.5 20.0 54.4 37.0 -17.4 -7.1 Retail & Transportation Market 41.6 27.0 28.1 34.0 69.7 61.0 -8.7 5.1 0.5 3.5 1.0 8.6 1.5 8.7 0.0 1.1 1.0 9.8 1.0 -8.8 Amusement Market 16.3 9.0 11.4 10.0 27.7 19.0 -8.7 19.1 5.8 5.4 1.7 3.1 1.8 8.5 3.5 -5.0 Others 3.3 3.0 3.7 4.0 7.0 7.0 0.0 16.0 15.7 35.1 21.5 -13.6 -0.2 -0.4 0.0 -0.1 -0.2 -0.5 -0.3 Total 185.0 156.0 184.0 184.0 369.0 340.0 -29.0 FY2025 Financial Forecast Top row: Net sales Bottom row: operating income 51Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Sales & Operating Income by Business Segment
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Q1-Q2 Q3-Q4 Full-year FY2024 FY2025 (Forecast) FY2024 FY2025 (Forecast) FY2024 FY2025 (Forecast) Y-on-Y Americas GGS Acrelec Flooid EMEA GGS Sitrade Acrelec Flooid Asia GGS Acrelec GGS Sitrade Acrelec Flooid 15.1 17.5 18.1 18.5 33.2 36.0 2.8 5.0 6.0 12.1 7.0 12.1 13.0 0.9 68.9 67.5 79.2 82.5 148.1 150.0 1.9 7.7 9.0 8.9 8.0 16.6 17.0 0.4 1.7 2.0 2.0 2.0 3.7 4.0 0.3 Total overseas sales 96.8 100.0 113.2 116.0 210.0 216.0 6.0 8.8 8.0 10.3 9.0 19.1 17.0 -2.1 7.1 6.0 8.3 7.0 15.4 13.0 -2.4 11.1 12.0 12.0 13.0 23.1 25.0 1.9 2.2 2.5 5.0 3.0 5.0 5.5 0.5 22.3 21.5 30.4 24.0 45.1 45.5 0.4 7.7 9.0 8.9 8.0 16.6 17.0 0.4 2.7 3.5 4.3 4.0 7.0 7.5 0.5 43.4 45.0 46.6 48.0 90.0 93.0 3.0 39.4 40.0 48.0 51.5 87.4 91.5 4.1 2.2 3.5 4.1 3.5 6.3 7.0 0.7 (Billions of yen) 44.4 47.0 56.4 59.0 100.8 106.0 5.2 FY2025 Financial Forecast 52Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References Sales by Geographical Segment of Overseas Market
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Dividend (Yen) +4 R&D investment -0.9 -4.5% Depreciation and amortization -0.3 -2.0% FY2025 (Forecast) Y-on-Y Changes by six-month periods Capital expenditures -0.9 -7.6% (Billions of yen) FY2024 54 54 56 56 FY24 1H FY24 2H FY25 1H FY25 2H 9.3 10.6 9.5 9.5 FY24 1H FY24 2H FY25 1H FY25 2H 6.9 8.4 7.5 7.5 FY24 1H FY24 2H FY25 1H FY25 2H 6.0 5.9 5.5 5.5 FY24 1H FY24 2H FY25 1H FY25 2H(Forecast) (Forecast) (Forecast) (Forecast) (Forecast) 11.9 11.0 15.3 15.0 19.9 19.0 108 112 (Forecast) (Forecast) (Forecast) FY2025 Financial Forecast 53Initiatives to Increase Corporate Value Summary of Financial Results Financial Forecast References CAPEX, Depreciation & Amortization, and R&D