© Azbil Corporation. All rights reserved.
Presentation Materials Summary
for the Fiscal Year Ended March 31, 2022
(Based on Japanese GAAP)
May 13, 2022
Azbil Corporation
RIC: 6845.T, Sedol: 6985543
This is a brief summary and is provided to disclose information to investors and our shareholders in a timely
and appropriate manner. We plan to announce the complete version on May 19, 2022.

© Azbil Corporation. All rights reserved.

(Billions of yen)

FY2020
FY2021
Revised plan(Nov. 2, 2021)
(A)
(B)
(B) - (A)
% Change
(C)
(B) - (C)
% Change
Orders received
247.8
286.9
39.0
15.8
Net sales
246.8
256.5
9.7
3.9
262.0
(5.4)
(2.1)
Japan
201.9
204.3
2.4
1.2
Overseas
44.8
52.1
7.3
16.3
Gross profit
99.3
105.7
6.3
6.4
Margin
40.3
41.2
0.9pp
SG&A
73.6
77.4
3.8
5.2
Operating income (loss)
25.7
28.2
2.5
9.8
29.3
(1.0)
(3.6)
Margin
10.4
11.0
0.6pp
11.2
(0.2)pp
Ordinary income (loss)
26.3
29.5
3.1
12.1
29.5
0.0
0.1
7.3
19.9
20.7
0.8
4.3
21.0
(0.2)
(1.0)
Margin
8.1
8.1
0.0pp
8.0
0.1pp
Difference
Difference
Income (loss) before income taxes
28.0
30.0
2.0
Net income (loss) attributable to
owners of parent
Consolidated Financial Results
2

In FY2021, orders received, net sales, and profits all increased compared with FY2020. This was due to the recovery from the market
downturn caused by the COVID-19 pandemic in FY2020, and also partly to the impact of customers’ advance orders triggered by parts
shortages. On the other hand, from the second half of FY2021 onwards, there was an increasing impact from delays in recording net sales
owing to longer delivery times caused by parts procurement difficulties. Consequently, both net sales and profits fell short of the revised plan
announced on November 2, 2021.

Net sales rose compared with FY2020. This was due to
sales growth achieved by the AA business, reflecting a
recovery in demand in the manufacturing equipment
market, but also to increased sales for the BA business
and LA business. Due to the pandemic and the increasing
impact of long delivery times, the plan was not achieved.

Operating income increased compared with FY2020,
although it fell short of the plan, mainly owing to not
reaching the sales plan. This increase from FY2020 was
thanks to measures to strengthen business profitability,
which continued to have a positive effect, in addition to the
growth in revenue. This was against the fact there being
higher expenses incurred by the increased burden related
to staff working amidst the COVID-19 pandemic, as well as
an increase in R&D expenses resulting from measures
included in the medium-term plan.

Overall orders received grew, reversing the decline in FY2020 caused by the spread of COVID-19. This growth was mainly due to an increase
in the AA business reflecting a recovery in market conditions and, to some extent, the impact of advance orders triggered by parts shortages,
as well as increased orders received in the BA business reflecting demand for the refurbishment of existing buildings and service, and also
increased orders received in the LA business driven by demand for pharmaceutical equipment.
*
FY2021 ROE: 10.4%

© Azbil Corporation. All rights reserved.
Consolidated Financial Plan
3
We will strive to expand business in the three growth fields, which address new issues facing society and
customer needs, while ensuring that we tap into robust market demand. We will also strengthen business
profitability and steadily implement investment in R&D and DX to realize sustainable growth. Although we
anticipate some uncertain impact from parts procurement difficulties, we are aiming to increase both net
sales and profits, as well as to realize steady growth to achieve our medium-term plan.

As well as benefitting from a large order backlog at the beginning of FY2022, we aim to increase net sales by ensuring that we tap into the
robust demand in the domestic market for large-scale buildings and also the market for manufacturing equipment.

In addition to the measures to enhance profitability that have previously proven successful, we plan to further strengthen profitability through
improvements to operational efficiency achieved by promoting DX on a global basis. Also, while investing in R&D, facilities and equipment to
achieve expansion in the three growth fields, we will seek to set a new record for profits.

Despite the outlook for the global economic environment remaining uncertain because of parts procurement difficulties, inflation, etc., we will
continue to implement thorough safety management, including measures to deal with the COVID-19 pandemic. By closely monitoring the
situation of our customers and parts suppliers, we will be sure to respond quickly and appropriately to any new developments.
(Billions of yen)
FY2021
Full year
H1
H2
Full year
(results)
(plan)
(plan)
(plan)
(A)
(B)
(B) - (A)
% Change
Net sales
256.5
120.9
154.1
275.0
18.4
7.2
Operating income
28.2
8.4
21.4
29.8
1.5
5.6
Margin
11.0
6.9
13.9
10.8
(0.2)pp
Ordinary income
29.5
8.7
21.5
30.2
0.6
2.3
20.7
5.7
15.8
21.5
0.7
3.4
Margin
8.1
4.7
10.3
7.8
(0.3)pp
Net income attributable to
owners of parent
FY2022
Difference
Reference: Exchange rate
FY2021 USD/JPY: 109, EUR/JPY: 129, CNY/JPY: 17, FY2022 USD/JPY: 118, EUR/JPY: 131, CNY/JPY: 18

© Azbil Corporation. All rights reserved.
(Billions of yen)
FY2021
Full year
H1
H2
Full year
(results)
(plan)
(plan)
(plan)
(A)
(B)
(B) - (A)
% Change
■
B A
Sales
119.7
53.0
76.0
129.0
9.2
7.7
Segment profit
13.8
2.5
12.0
14.5
0.6
4.6
Margin
11.6
4.7
15.8
11.2
(0.3)pp
■
A A
Sales
94.2
45.0
54.5
99.5
5.2
5.5
Segment profit
13.2
5.4
8.6
14.0
0.7
5.8
Margin
14.0
12.0
15.8
14.1
0.0pp
■
L A
Sales
44.2
22.9
23.6
46.5
2.2
5.1
Segment profit
1.1
0.5
0.8
1.3
0.1
12.9
Margin
2.6
2.2
3.4
2.8
0.2pp
Consolidated
Net sales
256.5
120.9
154.1
275.0
18.4
7.2
Operating income
28.2
8.4
21.4
29.8
1.5
5.6
Margin
11.0
6.9
13.9
10.8
(0.2)pp
FY2022
Difference
Financial Plan by Segment (1)
4

© Azbil Corporation. All rights reserved.
Financial Plan by Segment (2)
5
We plan to increase both sales and profit thanks to the order backlog and increasing demand
related to both new buildings and existing buildings.
BA
AA
LA

Although parts procurement difficulties are expected to continue in FY2022, we plan to increase sales and profits. As well as the
growth in our overseas business, this plan is based on the order backlog that built up as a result of the market recovery and
advance orders in FY2021.

While continuing to develop new overseas customers and making other investments for growth such as launching new products
and services, we will also continue to implement measures to strengthen profitability. We will thus maintain our profit margin.

Demand for heating, ventilation, and air conditioning (HVAC) control equipment/systems for large-scale buildings is robust, and
considering the buildup in the order backlog at the start of FY2022, sales are set to remain at a high level.

Against the backdrop of increased orders received from FY2021, we expect growth in the refurbishment of existing buildings, which
is a profitable business.

Anticipating a recovery from the impact of the COVID-19 pandemic, we also plan for overseas business growth.

In the Lifeline field, there is a decline in the cyclical demand for LP gas meters and continued negative impacts from the COVID-
19 pandemic and parts procurement difficulties are anticipated. However, we will continue to launch new products and develop
our cloud-based service business.

In the Life Science Engineering (LSE: for pharmaceuticals/laboratories) field, we expect revenue growth reflecting continued
demand in the pharmaceutical market.
We are planning to achieve increased sales and profit thanks to the order backlog at the start
of FY2022 and to growth in our overseas business.
We plan to increase both sales and profit, anticipating growth in the LSE field supported by
expanding demand in the pharmaceutical market, and further impetus given to development of
our cloud-based service business in the Lifeline field.

© Azbil Corporation. All rights reserved.
FY2019
FY2020
FY2021
FY2022
(plan)

■
B A
14.8
14.0
13.8
14.5
Margin
12.0
11.9
11.6
11.2

■
A A
10.4
10.2
13.2
14.0
Margin
11.3
11.7
14.0
14.1

■
L A
1.8
1.4
1.1
1.3
Margin
4.2
3.3
2.6
2.8
Consolidated
27.2
25.7
28.2
29.8
Margin
10.5
10.4
11.0
10.8
0.0
2.5
5.0
7.5
10.0
12.5
15.0
0.0
5.0
10.0
15.0
20.0
25.0
30.0
FY2019
FY2020
FY2021
FY2022
(plan)

■
B A
123.7
117.5
119.7
129.0

■
A A
93.1
87.7
94.2
99.5

■
L A
44.0
42.9
44.2
46.5
Consolidated
259.4
246.8
256.5
275.0
0.0
50.0
100.0
150.0
200.0
250.0
300.0
Reference: Sales by Segment and Segment Profit (Operating Income)
6
(Billions of yen)
■
Sales by segment
■
Segment profit (operating income)
(Billions of yen)
(%)

© Azbil Corporation. All rights reserved.
Plan to Further Improve Shareholder Returns in Accordance with the Basic Policy
7
In line with our basic policy—promoting shareholder returns, investment
in growth and healthy financial foundation—we will repurchase the
Company’s own stock and will increase dividends while investing in
growth, including R&D, DX and capital investments to strengthen MEMS
*
sensors, system solutions and other technologies that will support
business expansion in the three growth fields.
Repurchase of
own stock
and
cancellation of
treasury shares
FY2021
dividend
The year-end dividend for FY2021 will be 30 yen per share,
as initially announced. The annual dividend will be 60 yen per
share, together with the interim dividend of 30 yen per share.
Giving due consideration to ensuring a disciplined capital policy
and capital efficiency, we have set the maximum limit for
repurchase of the Company’s own stock at
10.0 billion yen
(or 4.0 million shares). We also plan to cancel its
1.5 million
treasury shares held at the end of March 2022.

To treat the return of profits to shareholders as
a management priority.

To return profits to shareholders mainly via
dividends, but also to repurchase the
Company’s own stock expeditiously.

In deciding the level of such returns, to give
consideration to consolidated financial results,
levels of return on equity (ROE), dividend on
equity (DOE), and retained earnings required
for future business development and
strengthening the corporate structure.

To maintain a stable dividend level while at the
same time striving to raise it.
Basic policy
We continue to develop well-disciplined capital
policies and aim to maintain/enhance the azbil
Group's enterprise value while carefully
balancing three key elements: promoting
shareholder returns, investing in growth, and
maintaining a healthy financial foundation.
*
Microelectromechanical systems (MEMS): devices built using microfabrication technology to integrate sensors, actuators and
electronic circuits on substrates.
FY2022
dividend
As regards the annual dividend for FY2022, the Company
plans an
increase of 5 yen, making an annual dividend of
65 yen per share.

© Azbil Corporation. All rights reserved.
(Yen)
Interim
Year-end
(plan)
Annual
(plan)
Interim
(plan)
Year-end
(plan)
Annual
(plan)
Dividend per share
30.0
Payout ratio Dividend on equity
(DOE)
FY2021
FY2022
4.2%
4.4%
32.5
32.5
65.0
39.8%
40.7%
30.0
60.0
Plan for FY2021 Year-end Dividend and FY2022 Annual Dividend
8
It is planned to increase an annual dividend by
5 yen per share, to 65 yen per share.
FY2022
dividend
*1

In FY2021, despite the impact from parts procurement difficulties, we achieved higher sales and profits than FY2020 and maintained a strong
financial foundation. It is thus planned to issue FY2021 dividends as announced at the beginning of FY2021.

Considering parts shortages, inflation, and other factors, the outlook for the global economic environment is expected to remain uncertain for
the time being. However, we are planning to increase both sales and profits in FY2022, and we expect stable and sustaining growth. It is thus
planned to increase dividends for FY2022.

Based on the continuation of stable dividend payments, we aim to further improve the dividend on equity (DOE); the DOE for FY2021 will be
4.2%.
*1
The effects of repurchase of own stock scheduled in FY2022 are taken into account for a trial calculation of net income per share, and
accordingly payout ratio for FY2022.
*2
The following factors have been taken into account for the trial calculation, which is based on shareholders’ equity on March 31, 2022:
repurchase of own stock scheduled in FY2022, year-end dividends for FY2021, interim dividends for FY2022, and net income attributable to
owners of parent in consolidated financial plan for FY2022.
*2
It is planned to pay
a year-end dividend of 30 yen per share, to make an annual dividend of 60 yen per share,
as announced at the beginning of FY2021.
FY2021
dividend

© Azbil Corporation. All rights reserved.
Repurchase of Own Stock and Cancellation of Treasury Shares
9

Based on the return on equity (ROE) target in our long-term targets (for FY2030) and the medium-term plan (FY2021-2024), we are engaging in
business expansion and measures to strengthen profitability. At the same time, while ensuring a disciplined capital policy and seeking to improve
capital efficiency, we will repurchase the Company’s own stock. In this way, in addition to further improving the return of profits to shareholders,
we will execute a flexible capital policy to prepare for changes in the business environment.

Following cancellation of our treasury share holdings (1.5 million shares) at the end of March 2022, we will review the use of our holdings,
including any of the Company’s own stock we plan to repurchase, for the purpose of enhancing enterprise value.
Reference
The Company announced followings on May 13, 2022, as a part of measures to make use of
own stock.
(1) Trust-type Employee Shareholding Incentive Plan (E-Ship*)
An incentive plan for all participants in the azbil Group’s Stock Ownership Association.
The total amount of the common stock planned to be acquired is 4,806 million yen at the
establishment of the trust.
(2) Stock compensation plan
It is planned to introduce a stock compensation plan using a trust for the Company’s
directors, corporate executives and executive officers. The maximum amount and
maximum number of shares to be acquired by the trust are 420 million yen and 189,600
shares respectively.
Number of treasury shares as of March 31, 2022
(1) Total number of issued shares (excluding treasury shares): 137,288,139 shares
(2) Treasury shares:
5,977,645 shares
• The above number of treasury shares does not include shares owned by a trust account
for Employee Stock Ownership Plan (J-ESOP), which owned 1,935,100 shares as of
March 31, 2022.
It is planned to cancel the Company’s treasury share holdings of 1.5 million shares.
Cancellation
of treasury
shares
It is planned to repurchase the Company’s own stock up to a maximum of 10.0 billion yen (or 4.0 million shares).
Repurchase
of own
stock
• E-Ship is a registered trademark of Nomura Securities Co., Ltd.
■Cancellation of treasury shares

Type of stock to be cancelled:
Common stock of the Company

Number of shares to be cancelled:
1,500,000 shares

Total number of issued shares
after the cancellation:
143,700,884 shares

Scheduled cancellation date:
May 31, 2022
■Repurchase of own stock

Type of stock to be repurchased:
Common stock of the Company

Total number of shares to be repurchased: Up to 4,000,000 shares
(2.9% of the total number of issued shares excluding treasury shares)

Total amount of repurchase:
Up to 10.0 billion yen

Period of repurchase:
From May 16, 2022 to
September 22, 2022

Method of repurchase:
Market transactions on
the Tokyo Stock Exchange

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Trend of Shareholder Returns
10
31.0
31.5
31.5
31.5
31.5
31.5
33.5
38.5
41.0
46.0
50.0
55.0
3.6
3.6
3.5
3.4
3.3
3.1
3.1
3.5
3.5
3.7
3.9
4.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
20.0
25.0
30.0
35.0
40.0
45.0
50.0
55.0
60.0
65.0
70.0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Dividend per share
Dividend on equity (DOE)
(Yen)
Total amount of own stock
repurchased (billions of yen)
1.9
2.9
4.9
9.9
9.9
10.0
(plan)
Number of shares repurchased
(millions of shares)
1.20
1.42 1.87 3.71
2.25 4.00
(plan)
60.0
(plan)
65.0
(plan)
4.2
(plan)
The dividend per share has been retroactively revised, taking into account the effects of the 2-for-1 common stock split effective in 2018.
(%)
(Fiscal year)
4.4
(plan)
* ROE for the FY2021, the first year for the medium-term plan was 10.4%; the Company expects 10.7% for FY2022