CYBERDYNE : Financial result for the consolidated nine months ended December 31, 2022

Consolidated Financial Results (Tanshin)

for the Nine Months Ended December 31, 2022 (Based on IFRS)

				February 14, 2023
Name of listed company	:CYBERDYNE, INC.	Stock exchange listing	:Growth Market of TSE
Stock code	:7779	URL	:https://www.cyberdyne.jp/english
Representative (title)	:President and CEO	Name	:Yoshiyuki Sankai
Contact (title)	:Director and CFO	Name	:Shinji Uga	Tel. [phone]
Scheduled date for release of nine-month report	:February 14, 2023	Scheduled start of dividend payment	:－
Additional materials for the financial results	:none
Information meeting for the financial results	:none
		(Millions of yen: Rounded to the nearest one million yen)
Ⅰ. Consolidated financial results for the nine months ended December 31, 2022 (April 1, 2022-December 31, 2022)
1. Consolidated result of operations		(percentages denote year-on-year change)
	Revenue	Operating profit	Profit (loss) before tax	Profit (loss) attributable to
		(loss)		owners of parent

Apr.1-Dec. 31, 2022 Apr.1-Dec. 31, 2021

2,374

1,347

％

76.3

8.0

(749)

(656)

％

－

－

112

(554)

％

－

－

68

(590)

％

－

－

Basic earnings (loss)

Diluted earnings (loss)

per share

per share

Yen

Yen

Apr.1-Dec. 31, 2022

0.32

0.32

Apr.1-Dec. 31, 2021

(2.74)

(2.74)

2. Consolidated financial position

Total equity attributable to

Ratio of equity attributable

Total assets

Total equity

to owners of the parent to

owners of the parent

total assets

Millions of yen

Millions of yen

Millions of yen

％

As of Dec. 31, 2022

51,166

43,590

43,600

85.2

As of March 31, 2022

49,467

43,450

43,419

87.8

Ⅱ. Dividends

Dividend payments for each term and the year

End of

End of

End of

Fiscal year end

1st quarter

2nd quarter

3rd quarter

Total

(March.31)

(June.30)

(September.30)

(December.31)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

－

0.00

－

0.00

0.00

March 31, 2022

Fiscal year ending

－

0.00

－

March 31, 2023

Notes:

(ⅰ) Changes from the latest released dividend forecasts: none

(ⅱ) The table of "Dividends" indicates dividend payments on Common Shares. Dividends on Class Share (non-listed) for which the number of share units differs from Common Shares are shown below as "Dividends on Class Shares".

Ⅲ. Forecast of consolidated financial results for the fiscal year ending March 31, 2023 (April 1, 2022-March 31, 2023)

As the business of CYBERDYNE Inc. and its group companies (collectively referred to as the "Group") is based on a new market with innovative technologies, there are many uncertain factors that could have an impact on its performance and make it difficult for CYBERDYNE Inc. (the "Company") to provide a forecast with accurate figures. As such the Company will not announce the forecast of consolidated financial results.

Notes:

1. Changes in key subsidiaries during the consolidated three month period (changes in specific subsidiaries resulting in changes of consolidation scope): none

new: － (company name: － ) ,

excluded: － (company name: － )

2. Changes in accounting policies, accounting estimates, and restatement of error corrections (ⅰ) Changes in accounting policies required by IFRS : none

(ⅱ) Changes in accounting policies due to reasons other than (ⅰ) : none

(ⅲ) Changes in accounting estimates: none

3. Total number of issued shares (Common Shares)

(ⅰ) Total number of issued shares at the end of each period (including treasury shares)

	As of December 31, 2022	215,145,809	shares	As of March 31, 2022	215,145,809	shares
(ⅱ) Total number of treasury shares at the end of each period
	As of December 31, 2022	11,672	shares	As of March 31, 2022	11,671	shares
(ⅲ) Average number of shares during each three month period
	Apr.1-December 31, 2022	215,134,138	shares	Apr.1-December 31, 2021	215,135,098	shares

Note: Class B Shares are ranked the same as Common Shares and paid the same amount as Common Shares with regard to dividends of surplus and distribution of residual assets. Therefore the total number of issued shares at each end of period and the average number of shares during each period include Class B Shares as Common Shares.

*This quarterly consolidated financial report is not subject to the quarterly review procedure by the scope of audit.

Dividends on Class Shares

Details of dividends on the Company's class shares for which the number of share units differs from its Common Shares are as below.

				Dividend payments for each term and the year
		End of		End of		End of	Fiscal year end
		1st quarter		2nd quarter		3rd quarter	Total
				(March.31)
		(June.30)		(September.30)		(December.31)
Fiscal year ended		Yen		Yen		Yen	Yen	Yen
	－		0.00		－	0.00	0.00
March 31, 2022
Fiscal year ending		－		0.00		－
March 31, 2023
Note:

The Company issued Class B Shares which were accorded the same rights as its Common Shares with regard to dividends and distribution of residual assets, but for which share units differ from Common Shares.

○ Contents of the Attached Material
1. Qualitative information regarding settlement of accounts for the nine months.…………………………………………………	2
(1) Explanation of operating results.……………………………………………………………………………………………	2
(2) Explanation of financial position……………………………………………………………………………………………	6
(3) Status of cash flow..…………………………………………………………………………………………………………	6
2. Condensed quarterly consolidated financial statement (Unaudited) ……………………………………………………………	7
(1) Condensed quarterly consolidated statement of financial position (Unaudited)……………………………………………	7
(2) Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated statement of
comprehensive income (Unaudited)...………………………………………………………………………………………..	9
Condensed year to quarter end consolidated statement of profit or loss……………………………………………………	9
Condensed quarter period consolidated statement of profit or loss…………………………………………………………	10
Condensed year to quarter end consolidated statement of comprehensive income...………………………………………	11
(3) Condensed quarterly consolidated statement of changes in equity (Unaudited)……………………………………………	12
(4) Condensed quarterly consolidated statement of cash flows (Unaudited)...…………………………………………………	14
(5) Notes to condensed quarterly consolidated financial statements……………………………………………………………	15
(Notes on premise of going concern) ………………………………………………………………………………………	15
(Changes in accounting policy) .……………………………………………………………………………………………	15
(Revenue) ..…………………………………………………………………………………………………………………	16

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1. Qualitative information regarding the settlement of accounts for the nine months ended December 31, 2022 (1) Explanation of operating results

All forward-looking statements included in this explanation were determined reasonable by CYBERDYNE Inc. (the "Company") and its group companies (collectively referred to as the "Group") based on currently available information for the consolidated nine months ended December 31, 2022, and certain assumptions made by the Group.

To solve various issues facing society, the Group will make full use of "Cybernics" (a new field that integrates and combines human, robot, AI, and information systems) and handle HCPS (Human-Cyber-Physical Space) in a unified manner. Furthermore, through Cybernics, the Group promotes the realization of "Techno Peer Support" and future development by creating the "Cybernics Industry," a new industry that will follow the robotics and IT industries.

Techno Peer Support Society

The Group defines "Techno Peer Support Society" as a society in which people and technology coexist and mutually support each other, enabling people to maintain and manage their health even in old age and to exercise their long-cultivated abilities to the fullest. A society where people can maintain a high degree of independence and lead a life with a higher degree of freedom, even if their physical condition declines due to disease, accident, aging, or disability. To realize such a society and create a new industry based on Cybernics, the Group is developing various Cybernics Technologies that improve, regenerate, expand, and support the wearer's physical functions.

Status of business operation

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The Group continues its efforts to establish Cybernic Treatment, a treatment program using Medical HAL systems that aims to induce improvement and regeneration of the functions of the brain, nerves, and muscles into a global standard of treatment.

(Japan)

The Group continues its efforts to establish Cybernics Treatment, a treatment program using Medical HAL systems that aims to induce improvement and regeneration of the functions of the brain, nerves, and muscles into a global standard of treatment. Post-marketing surveillance on the Medical HAL Lower Limb Type Double-leg Model suggested a high efficacy and safety towards progressive neuromuscular diseases. As a result of the proposal, the revision of insurance pricing for 2022 allows hospitals that use the DPC system (80% of base hospitals treating intractable diseases in Japan) to calculate insurance for treatment with HAL for hospitalized patients. Also, insurance reimbursement pricing associated with the treatment was increased, encouraging the Group to spread the technology in the country. Furthermore, the Group will utilize such results to list this treatment methodology for insurance worldwide, establishing it as a global standard for progressive neuromuscular disease for which no effective treatment method existed.

On October 27, 2022, the Japanese Minister of Health, Labour, and Welfare approved additional indications of HTLV-1-associated myelopathy (HAM) and hereditary spastic paraplegia for HAL. Accordingly, the Company is making preparations for procedures related to reimbursement insurance coverage.

Furthermore, regarding the investigator-initiated clinical trial for stroke patients in Japan, the primary endpoints' clinical significance and statistical significance are being discussed with the authorities, investigators, and statistical experts. The Group also considers the result compelling data for medical insurance for stroke worldwide.

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