JVCKENWOOD : Results and Forecast Briefing Third Quarter(Q1-3) of Fiscal Year Ending March 2023

Translation for Reference Only

JVCKENWOOD Results and Forecast Briefing

Third Quarter (Q1-3) of Fiscal Year Ending March 2023 (IFRS)

February 1, 2023

JVCKENWOOD Corporation

• All figures in this document are prepared in accordance with International Financial Reporting Standards (IFRS).
• Percentages and value differences shown in this document were computed in yen and any single-digit value was rounded off to the nearest two-digit value.

Copyright © 2023 JVCKENWOOD Corporation. All rights reserved.

Financial Results for Q3 (Q1-3) of FYE3/ʼ23: Highlights

• Cumulative results for Q3 of FYE3/ʼ23

• M&T︓Mobility & Telematics Services Sector PS ︓Public Service Sector
  MS ︓Media Service Sector

Revenue and income showed significant growth year-on-year due to a large increase in revenue as a result of the normalization of M&T production and sales as well as better-than-expected performance of PS Communications Systems Business.

• Upward revision of the earnings forecast following last October

We made an upward revision to the earnings forecast released in October 2022 as we will enjoy, during Q4, an effect from orders for large projects for PS Communications Systems against a backdrop of persistently strong market conditions, among other factors.

• Revised year-end dividend forecast to pay a special dividend and changed shareholder return policy

2

1. Overview of Q3 (Q1-3) financial results for FYE3/ʼ23 and full-year earnings forecast
2. Revision of the dividend forecast
3. Topics

1. Overview of Q3 (Q1-3) financial results for FYE3/ʼ23 and full-year earnings forecast
2. Revision of the dividend forecast
3. Topics

Financial results for Q3 (1-3Q) of FYE3/ʼ23

（Billion yen）

FYE3/ʼ21	FYE3/ʼ22	FYE3/ʼ23	YoY
Q1-3	Q1-3	Q1-3

Revenue		194.9	194.6	247.5	+ 52.9	+27.2%
	Cost of sales	143.5	143.6	178.5	+ 34.8	+24.2%
	Gross profit	51.4	51.0	69.0	+ 18.0	+35.4%
	Profit margin	26.4%	26.2%	27.9%
Core operating income*1	2.0	0.27	11.2	+ 10.9	+4018.0%
Profit margin	1.0%	0.1%	4.5%
Other Income, Other Expenses,
Foreign Exchange Loss, etc.	0.1	3.4	8.3	+ 4.9	147.2%
Operating profit	2.1	3.6	19.5	+ 15.9	+438.1%
Profit margin	1.1%	1.9%	7.9%
Profit before income	2.0	3.1	19.3	+ 16.3	+528.5%
taxes
Profit attributable to
owners of the parent	0.5	0.5	15.5	+ 15.0	2979.4%
company
EBITDA*2	17.2	16.8	34.2	+ 17.4	+103.6%
EBITDA margin	8.8%	8.6%	13.8%

*1: Core operating income does not include nonrecurring items that mainly occur temporarily, such as other income included in operating income, other expenses, and foreign exchange losses (gains).

*2: Profit (loss) before tax + Interest expense + Depreciation expense + Impairment loss

																(Yen)
				FYE3/ʼ21					FYE3/ʼ22					FYE3/ʼ23
		Q1	Q2	Q3	Q4	Full-Year	Q1	Q2	Q3	Q4	Full-Year	Q1	Q2	Q3		Q4 Full-Year
																	5
Profit-And-Loss	U.S. dollar	108	106	105	106	106	110	110	114	116	112	130	138	141
Exchange Rates	Euro	119	124	125	128	124	132	130	130	130	131	138	139	144