CYBERDYNE : Financial result for the consolidated three months ended June 30, 2023

Consolidated Financial Results (Tanshin)

for the Three Months Ended June 30, 2023 (Based on IFRS)

August 14, 2023

Name of listed company

:CYBERDYNE, INC.

Stock exchange listing

:Growth Section of TSE

Stock code

:7779

URL

:https://www.cyberdyne.jp/english

Representative (title)

:President and CEO

Name

:Yoshiyuki Sankai

Contact (title)

:CFO

Name

:Shinji Uga

Tel. [phone]

Scheduled date for release of three-month report

:August 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 three months ended June 30, 2023 (April 1, 2023-June 30, 2023)

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-June 30, 2023

1,045

39.1

(308)

－

767

106.2

330

36.9

Apr.1-June 30, 2022

751

97.6

(178)

－

372

－

241

－

Basic earnings (loss)

Diluted earnings (loss)

per share

per share

Yen

Yen

Apr.1-June 30, 2023

1.56

1.56

Apr.1-June 30, 2022

1.12

1.12

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 June 30, 2023

50,282

42,370

42,513

81.3

As of March 31, 2023

50,187

41,983

42,101

83.9

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, 2023

Fiscal year ending

－

March 31, 2024

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, 2024 (April 1, 2023-March 31, 2024)

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 : yes

(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 June 30, 2023	215,145,809	shares	As of March 31, 2023	215,145,809	shares
(ⅱ) Total number of treasury shares at the end of each period
	As of June 30, 2023	4,014,573	shares	As of March 31, 2023	4,011,673	shares
(ⅲ) Average number of shares during each three month period
	Apr.1-June 30, 2023	215,131,236	shares	Apr.1-June 30, 2022	215,134,138	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, 2023
Fiscal year ending		－
March 31, 2024
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 the settlement of accounts for the three months.……………………………………………	2
(1) Explanation of operating results.……………………………………………………………………………………………	2
(2) Explanation of financial position……………………………………………………………………………………………	5
(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	9
comprehensive income (Unaudited)...………………………………………………………………………………………
Condensed year to quarter end consolidated statement of profit or loss……………………………………………………	9
Condensed year to quarter end consolidated statement of comprehensive income...………………………………………	10
(3) Condensed quarterly consolidated statement of changes in equity (Unaudited)……………………………………………	11
(4) Condensed quarterly consolidated statement of cash flows (Unaudited)...…………………………………………………	13
(5) Notes to condensed quarterly consolidated financial statements……………………………………………………………	14
(Notes on premise of going concern) ………………………………………………………………………………………	14
(Changes in accounting policy) .……………………………………………………………………………………………	14
(Revenue) ..…………………………………………………………………………………………………………………	15

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1. Qualitative information regarding the settlement of accounts for the three months ended June 30, 2021

1. Explanation of operating result

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 three months ended June 30, 2023, 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 disseminate 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 disseminate Cybernics Treatment, a treatment program using Medical HAL. Post-marketing surveillance on the Medical HAL Lower Limb Type Double-leg Model suggested a high efficacy and safety towards progressive neuromuscular diseases, for which no effective treatment methods are available in the medical world yet. Although there was some delay in the installation of Medical HAL due to the effects of COVID-19, as the pandemic is gradually settling down, new installation orders are increasing in the new fiscal year, which started in April 2023.

Regarding spinal cord-related diseases, the Japanese Minister of Health, Labour, and Welfare approved additional indications of HTLV-1-associated myelopathy (HAM) and hereditary spastic paraplegia for HAL on October 2022. Accordingly, the Company applied for public health insurance coverage on July 2023. Regarding traumatic spinal cord injuries, the Company is consulting with the regulators on the necessary steps to obtain medical device approvals.

Regarding stroke, the Company discussed the clinical significance and clinical significance of the investigator-initiated clinical trial using the Medical HAL Lower Limb Type single-leg model (HIT2016 trial). Considering the practice conditions surrounding acute stroke treatment and recovery rehabilitation, the Company is considering conducting additional studies (clinical trials).

In addition, the University of Tsukuba Hospital started clinical trials to investigate the effect of HAL on improving the physical functions of children affected by cerebral palsy in January 2022. The clinical trial is

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