© Azbil Corporation. All rights reserved.
Presentation Materials Summary
for the Fiscal Year Ended March 31, 2023
(Based on Japanese GAAP)
May 12, 2023
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 18, 2023.

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© Azbil Corporation. All rights reserved.
Highlights
1. Consolidated Financial Results for FY2022
We achieved record financial results for the second consecutive fiscal year, with increased revenue and profits.

We recorded the highest figures ever for orders received and order backlog (156 billion yen, up 16.2% compared with FY2021).

Faced with parts shortages and procurement difficulties, we secured sales through initiatives to strengthen procurement and
production capabilities.

Despite price hikes of parts and other factors, thanks to higher revenue and enhanced profitability, operating income topped 30 billion
yen, a record high.
2. Consolidated Financial Plan for FY2023
We plan to increase both net sales and operating income for the third consecutive fiscal year.

Drawing on the improvements we made to procurement and production processes during FY2022, we aim to continue increasing
revenue by steadily converting the abundant order backlog into sales.

We aim to set a new record for operating income by implementing measures to enhance profitability, such as increasing margins at the
point of order receipt and effecting cost pass-through.

We will continue and expand investment for growth—in R&D, equipment and facilities, DX, and human capital.
3. Returning Profits to Shareholders

The year-end dividend for FY2022 is to be increased from the previously announced figure by 1 yen, making an annual dividend of 66
yen per share. It is planned to increase the dividend next year, making FY2023 annual dividend 73 yen per share; this would represent
the ninth consecutive year of dividend increases. Based on the continuation of stable dividend payments, we aim to further improve
the dividend on equity (DOE) ratio (4.4% for FY2022).

We will repurchase the Company’s own stock (up to a maximum of 10 billion yen or 4 million shares) and cancel all of the treasury
shares thus acquired.
4. Progress in Implementing the Medium-term Plan

We are accelerating transformation for growth. To strengthen product competitiveness, we are actively investing in R&D, equipment
and facilities, and human capital.

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© Azbil Corporation. All rights reserved.
Consolidated Financial Results
• In the LA business, provision for product warranties
(2.49 billion yen)—to meet anticipated expenses
resulting from defects in some LP gas meters—was
recorded as an extraordinary loss.

Orders received increased for the second consecutive fiscal year. The order backlog also reached a record
high, standing at 156 billion yen.

Both net sales and profits exceeded the plan (announced on November 8, 2022), representing a new record
for business results.

To cope with parts shortages and procurement difficulties, procurement and production capabilities were
strengthened.
• The impact of foreign exchange rate fluctuations (compared with the previous fiscal year)
+6.41 billion yen for net sales, +0.80 billion yen for operating income
The impact of foreign exchange rate fluctuations is derived from the difference in rates, between the
previous and current periods, used to convert overseas subsidiaries’ P/L into yen from the local currency.
(Billions of yen)
(Billions of yen)
FY2021
FY2022
Revised plan
(Nov. 8, 2022)
(A)
(B)
(B) - (A)
% Change
(C)
(B) - (C)
% Change
Orders received
286.9
296.9
9.9
3.5
Net sales
256.5
278.4
21.8
8.5
277.5
0.9
0.3
Japan
204.3
215.7
11.4
5.6
Overseas
52.1
62.6
10.4
20.0
Gross profit
105.7
111.9
6.2
5.9
Margin
41.2
40.2
(1.0)pp
SG&A
77.4
80.6
3.2
4.1
Operating income (loss)
28.2
31.2
3.0
10.7
29.8
1.4
4.9
Margin
11.0
11.2
0.2pp
10.7
0.5pp
Ordinary income (loss)
29.5
32.1
2.6
8.9
31.0
1.1
3.7
30.0
32.1
2.0
6.9
20.7
22.6
1.8
8.8
21.8
0.8
3.7
Margin
8.1
8.1
0.0pp
7.9
0.3pp
Difference
Difference
Income (loss) before income taxes
Net income (loss) attributable to
owners of parent

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© Azbil Corporation. All rights reserved.
Financial Results by Segment

Orders received in all three businesses—the BA, AA, and LA—increased from FY2021.

Sales growth was also achieved compared with FY2021 in all three businesses, and the AA and LA
businesses exceeded the plan.

While being affected by price hikes of parts, the BA and AA businesses still increased their profits thanks
to initiatives to strengthen profitability and increases in revenue. Despite achieving higher revenue, the LA
business saw a decrease in profit, mainly due to the impact of inflation.
（Billions of yen）
（Billions of yen）
FY2021
FY2022
Revised plan
(Nov. 8, 2022)
(A)
(B)
(B) - (A)
% Change
(C)
(B) - (C)
% Change
■
B A
Orders received
132.5
135.3
2.8
2.1
Sales
119.7
128.5
8.7
7.3
129.0
(0.4)
(0.3)
Segment profit (loss)
13.8
16.0
2.2
16.0
14.7
1.3
9.3
Margin
11.6
12.5
0.9pp
11.4
1.1pp
■
A A
Orders received
109.5
113.9
4.4
4.0
Sales
94.2
103.9
9.7
10.3
102.0
1.9
1.9
Segment profit (loss)
13.2
14.5
1.3
10.1
14.3
0.2
2.0
Margin
14.0
14.0
(0.0)pp
14.0
0.0pp
■
L A
Orders received
46.8
49.6
2.8
6.0
Sales
44.2
47.9
3.6
8.3
46.5
1.4
3.0
Segment profit (loss)
1.1
0.5
(0.5)
(48.9)
0.8
(0.2)
(26.4)
Margin
2.6
1.2
(1.4)pp
1.7
(0.5)pp
Difference
Difference

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© Azbil Corporation. All rights reserved.
Consolidated Financial Plan

We plan to increase both net sales and operating income for the third consecutive
fiscal year.
—
Capital investment demand in the manufacturing industry is uncertain. However, drawing on the improvements
we made to procurement and production processes during FY2022, we aim to continue increasing revenue by
steadily converting the abundant order backlog into sales.
—
Despite concerns about the continuing impact of price hikes of parts and inflation, we aim to set a new record
for operating income by implementing measures to enhance profitability, such as increasing margins at the
point of order receipt and effecting cost pass-through.
—
We will continue and expand investment for growth—in R&D, equipment and facilities, DX, and human capital.
Reference: Exchange rate
FY2022 USD/JPY: 132, EUR/JPY: 138, CNY/JPY: 19.5
FY2023 USD/JPY: 130, EUR/JPY: 140, CNY/JPY: 19.0

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© Azbil Corporation. All rights reserved.
Financial Plan by Segment

The business environment is different for each business, but we plan to increase revenue in the BA and
AA businesses by making use of the order backlog existing at the start of FY2023.

Profits for the AA and LA businesses are expected to increase thanks to the effects of cost pass-through
and strengthened cost management, in addition to those measures to strengthen profitability already
implemented. For the BA business, effects from cost pass-through will be limited, and profits are
expected to decrease due to a backlash from the second half of FY2022 in which profits were firm.
(Billions of yen)
FY2022
FY2023
Difference
Full year

Full year
(results)
H1
H2
(plan)
(A)
(plan)
(plan)
(B)
(B) - (A)
% Change
■
B A
Sales
128.5
54.2
75.8
130.0
1.4
1.1
Segment profit
16.0
2.3
13.3
15.6
(0.4)
(2.9)
Margin
12.5
4.2
17.5
12.0
(0.5)pp
■
A A
Sales
103.9
51.6
54.4
106.0
2.0
1.9
Segment profit
14.5
7.0
8.5
15.5
0.9
6.3
Margin
14.0
13.6
15.6
14.6
0.6pp
■
L A
Sales
47.9
24.5
23.5
48.0
0.0
0.2
Segment profit
0.5
0.4
0.5
0.9
0.3
52.8
Margin
1.2
1.6
2.1
1.9
0.6pp

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© Azbil Corporation. All rights reserved.
Plan to Further Improve Shareholder Returns in Accordance with the Basic Policy
FY2022
dividend
FY2023
dividend
Repurchase of own stock
and
cancellation of treasury
shares
Investments
The year-end dividend for FY2022 is to be increased by 1 yen from the initial
announcement in May 2022.
The annual dividend will be
66 yen
per share.
(+6 yen compared with FY2021)
(A year-end dividend for FY2022 will be paid after the approval of the Ordinary General Meeting of
Shareholders on June 27, 2023.)
Giving due consideration to ensuring a disciplined capital policy and capital efficiency
,
we will repurchase the Company’s own stock of
10 billion yen
(or 4 million shares).
We will also
cancel all of the treasury shares
thus acquired.
As regards the annual dividend for FY2023,
the Company plans an annual dividend of
73 yen
per share.
(+7 yen compared with FY2022)
In order to strengthen product competitiveness, we will strengthen our investments
including R&D and capital investment.
We plan to spend 11.1 billion yen in capital investment and 13.2 billion
yen in R&D.
In accordance with our basic policy—promoting shareholder returns, investment in
growth and healthy financial foundation—we will increase dividends, repurchase the
Company’s own stock and cancel treasury shares while investing in growth, including
R&D, capital investment, DX and human capital.

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© Azbil Corporation. All rights reserved.
Trend of Shareholder Returns
• The dividend per share and the number of treasury shares repurchased have been retroactively revised,
taking into account the effects of the 2-for-1 common stock split effective.

In FY2023 it is planned to increase dividends for the ninth consecutive fiscal year. DOE is
expected to be 4.7%.
Total amount of own
stock repurchased
(billions of yen)
1.9
2.9
4.9
9.9
9.9
9.9 10.0
Number of shares
repurchased
(millions of shares)
1.20
1.42 1.87 3.71
2.25 2.67 4.00
31.0 31.5 31.5 31.5 31.5 31.5 33.5
38.5 41.0
46.0
50.0
55.0
60.0
66.0
73.0
3.6% 3.6% 3.5%
3.4% 3.3%
3.1% 3.1%
3.5% 3.5%
3.7%
3.9% 4.0%
4.2%
4.4%
4.7%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
50.0
55.0
60.0
65.0
70.0
75.0
80.0
FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
Dividend per share
Dividend on equity (DOE)
(Yen)
(plan)
(plan)
(plan)
(plan)
(plan)
(plan)

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© Azbil Corporation. All rights reserved.
Notes
1. Financial data and financial statements have been prepared based on Japanese GAAP and the amounts have been
rounded down.
2. The following are the azbil Group’s segments (each identified by abbreviation) together with the various sub-segments and
their principal business fields.
BA: Building AutomationAA: Advanced Automation
・Control Product (CP) business: Supplying factory automation products such as controllers and sensors
・Industrial Automation Product (IAP) business: Supplying process automation products such as differential pressure
transmitters, pressure transmitters, and control valves
・Solution and Service (SS) business: Offering control systems, engineering service, maintenance service, energy-
saving solution service, etc.
LA: Life Automation
・Lifeline field: Provision of gas meters and water meters, safety equipment such as alarms and automatic shut-off
valves, regulators and other products for industry
・Life Science Engineering (LSE) field: Provision of integrated solutions from the development, engineering, installation,
and sale of lyophilizers, sterilizers, and clean environment equipment to after-sales services for pharmaceutical
companies and research laboratories
・Lifestyle-related field: Provision of residential central air-conditioning systems for houses
3. Net sales for the azbil Group tend to be low in the first quarter of the consolidated accounting period and highest in the
fourth quarter. However, fixed costs are generated constantly. This means that profits are typically lower in the first quarter
and higher in the fourth quarter.

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IR Inquiries and Disclaimer
Phone: +81-3-6810-1031
Email:
azbil-ir@azbil.com
Azbil Corporation
Investor Relations
Inquiries regarding investor relations
The projections are based on management’s assumptions, intent and
expectations in light of the information currently available to it, and
therefore these statements are not guarantees of future performance.
Due to various factors in the future, actual results may differ from financial
targets in the materials.
Disclaimer