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(3) Forecasts for Fiscal 2023Although the global automobile production for fiscal year ending March 2023 remains uncertain, the effect of COVID-19and shortage of semiconductors is expected to continue in the first half and gradually recover in the second half and later.Therefore, for the full fiscal year, production is expected to increase compared to the previous fiscal year in all regions.Regarding the business performance, the net sales is expected to increase year on year in all regions, due to new ordersreceived mainly in Japan and North America and a shift in automobile lamps to LED, in addition to the recovery ofautomobile production, where the consolidated net sales is expected to achieve the highest ever result.On the earnings front, we are planning to increase investment to meet new orders, R&D activities for the future andcarbon neutrality. However, due to continuous improvements and rationalization activities, in addition to an increase inprofit, all of the operating income, recurring profit, and net income attributable to the owners of the parent are expected toincrease year on year.(4) Basic Earnings Distribution Policies and Dividend Payments for Fiscal 2021 and Fiscal 2022KOITO’s policy is to continuously pay stable dividends to shareholders based on the comprehensive evaluation of ourpresent business results, business climate, etc.On the basis of the above policy, the year-end dividend is scheduled to be 30 per share which is the same amount as theprevious year end.Accordingly, the full year dividend, including the interim dividend, is scheduled to be 54 per share which is 4 higherthan the previous fiscal year.Looking ahead, KOITO will continue efforts to achieve higher earnings to meet the expectations of all shareholders.The differences between the actual results for fiscal 2022 herein and the previous forecasts (consolidated andnon-consolidated) issued in the “Consolidated Earnings Report for the Third Quarter of Fiscal 2022” dated January 27, 2022,are as follows:( millions are rounded down)Consolidated Results for Fiscal 2022( millions)Net salesPreviously announcedforecast (A)Actual results forfiscal 2022 (B)Difference (B-A)Change (%)(Reference) Actualresults for previousyear (fiscal 2021)OperatingincomeRecurring profitProfitattributable toowners of parentNet incomeper share ( ��706,37656,70761,10737,612234.00(Reference) Non-Consolidated Results for Fiscal 2022Net salesPreviously announcedforecast (A)Actual results forfiscal 2022 (B)Difference (B-A)Change (%)(Reference) Actualresults for previousyear (fiscal 2021)OperatingincomeRecurring profitNet income( millions)Net incomeper share ( 623,253144.66 3,536 1.22601.51,4163.8 4,746 17.0－－312,20121,13838,18538,048236.723

2. Basic Approach in Selection of Accounting StandardKOITO applies generally accepted account principles (GAAP) of Japan as its accounting standard, mainly to ensure itsfinancial statements are comparable with past years.4

3. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets( millions)Fiscal 2022As of March 31, 2022Fiscal 2021As of March 31, 2021AssetsCurrent assets:Cash and time depositsTrade notes and accounts receivableTrade notesElectronically recorded monetary claims-operatingAccounts receivableContract AssetsInventoriesOther current assetsAllowance for doubtful accountsTotal current assetsNon-current assets:Property, plant and equipment:Buildings and structures (net)Machinery and transportation equipment (net)Fixtures, equipment and tools (net)LandConstruction in progressOther property, plant and equipmentTotal property, plant and equipmentIntangible fixed assetsInvestments and other assets:Investment securitiesClaims provable in bankruptcy, claims provable inrehabilitation and otherDeferred income tax assetsNet defined assets for retirement benefitsOther investmentsAllowance for doubtful accountsTotal investments and other assetsTotal non-current assetsTotal assets5303,887115,950－12,957－－73,75132,239 23 56,57073,85618167,7552,5562,244 13969,005243,747782,16310,8632,8043,034 13690,438276,150855,237

Fiscal 2021As of March 31, 2021LiabilitiesCurrent liabilities:Trade notes and accounts payableElectronically recorded monetary obligations-operatingShort-term loansAccrued expensesIncome taxes payableAllowance for employees’ bonusesReserve for product warrantiesOther current liabilitiesTotal current liabilitiesNon-current liabilities:Long-term debtDeferred income tax liabilitiesAllowance for directors’ and corporate auditors’retirement benefitsReserve for product warrantiesAllowance for environmental strategiesNet defined liability for retirement benefitsOther non-current liabilitiesTotal non-current liabilitiesTotal liabilitiesNet assetsShareholders’ equity:Common stockAdditional paid-in capitalRetained earningsTreasury common stock, at costTotal shareholders’ equityAccumulated other comprehensive income:Valuation adjustment on marketable securitiesTranslation adjustmentsAdjustments in defined benefit plansTotal accumulated other comprehensive incomeSubscription rights to sharesNon-controlling interestsTotal net assetsTotal liabilities and net assets6( millions)Fiscal 2022As of March 31, 380480,214 52507,81314,27013,399509,958 ,16323,56027,9241,89553,37919936,157627,315855,237

(2) Consolidated Statements of Income and Comprehensive IncomeNet salesCost of salesGross profitSelling, general and administrative expenses:Selling expensesGeneral and administrative expensesSelling, general and administrative expensesOperating incomeNon-operating income:Interest incomeDividendsForeign exchange gainsGain on operation of Investment Business AssociationRoyalty income, otherSubsidies for employment adjustmentOther non-operating incomeTotal non-operating incomeNon-operating expenses:Interest expensesShares of loss of entities accounted for usingequity methodOther non-operating expensesTotal non-operating expensesRecurring profitExtraordinary gains:Gain on sales of property and equipmentGain on sales of investment securitiesGain on sales of shares in subsidiariesTotal extraordinary gainsExtraordinary losses:Loss on sales and disposal of property and equipmentLoss on sales of investment securitiesLoss on valuation of investment securitiesLoss related to the Act on Prohibition to PrivateMonopolization and Maintenance of Fair TradeImpairment lossTotal extraordinary lossesIncome before income taxesIncome tax, inhabitant tax and business taxRefund of income taxesIncome tax adjustmentTotal income taxesProfitFiscal 2021April 1, 2020to March 31, 2021706,376609,13297,244( millions)Fiscal 2022April 1, 2021to March 31, 1175672－47901041681,3311,94359,42915,430 8841,98437,6122,84838,3403,644(Breakdown)Profit attributable to owners of parentProfit attributable to non-controlling interests7

( millions)Fiscal 2022April 1, 2021to March 31, 2022Fiscal 2021April 1, 2020to March 31, 2021Other comprehensive income or lossValuation adjustment on marketable securitiesTranslation adjustmentsAdjustments in defined benefit plansShare of other comprehensive income of entitiesaccounted for using equity methodTotal other comprehensive incomeComprehensive income(Breakdown)Comprehensive income attributable to owners of parentComprehensive income attributable to non-controllinginterests88,88415,6883,418 4,9345,603

(3) Consolidated Statements of Changes in Shareholders’ EquityFiscal 2021 (April 1, 2020 to March 31, 2021)( millions)Shareholders’ equity14,27013,373449,031Treasurycommon stock,at cost 53－－－－－14,27013,373449,031 53476,622－－ 6,429－ 6,429－－37,612－37,612－－－7－－ 11 214 52507,813Common stockBalance at beginning of yearCumulative effects ofchanges in accountingpoliciesRestated balanceChanges during fiscal yearDividends from retainedearningsProfit attributable to ownersof parentPurchases of treasury stockDisposal of treasury stockChanges in items other thanshareholders’ equity duringfiscal year (net)Total changes during fiscalyearBalance at fiscal year-endAdditionalpaid-in 76,622Accumulated other comprehensive nts accumulatedrights toTranslationonof definedothersharesadjustmentsmarketablebenefit plans comprehensivesecuritiesincomeBalance at beginning of yearCumulative effects ofchanges in accountingpoliciesRestated balanceChanges during fiscal yearDividends from retainedearningsProfit attributable to ownersof parentPurchases of treasury stockDisposal of treasury stockChanges in items other thanshareholders’ equity duringfiscal year (net)Total changes during fiscalyearBalance at fiscal 2 9,333 822 9,333 1,6083,88023132,789513,524－－－－－－ －－－－－ 198,86713,6253,41825,911 9 1,17824,7238,86713,6253,41825,911 9 1,17855,91423,6904,2911,81029,79222231,610569,4389

Fiscal 2022 (April 1, 2021 to March 31, 2022)( millions)Shareholders’ equity14,27013,380480,214Treasurycommon stock,at cost 52－－83－8314,27013,380480,297 52507,897－－ 8,679－ 8,679－－38,340－38,340－－－18－－ 14 9,958 49537,578Common stockBalance at beginning of yearCumulative effects ofchanges in accountingpoliciesRestated balanceChanges during fiscal yearDividends from retainedearningsProfit attributable to ownersof parentPurchases of treasury stockDisposal of treasury stockChanges in items other thanshareholders’ equity duringfiscal year (net)Total changes during fiscalyearBalance at fiscal year-endAdditionalpaid-in 07,813Accumulated other comprehensive nts accumulatedrights toTranslationonof definedothersharesadjustmentsmarketablebenefit plans comprehensivesecuritiesincomeBalance at beginning of yearCumulative effects ofchanges in accountingpoliciesRestated balanceChanges during fiscal yearDividends from retainedearningsProfit attributable to ownersof parentPurchases of treasury stockDisposal of treasury stockChanges in items other thanshareholders’ equity duringfiscal year (net)Total changes during fiscalyearBalance at fiscal －－－ －－－－－ 123 12923,6328423,587 234,54628,110 12923,6328423,587 1510

(4) Consolidated Statements of Cash Flows( millions)Fiscal 2022April 1, 2021to March 31, 2022Fiscal 2021April 1, 2020to March 31, 2021Cash flows from operating activitiesIncome before income taxesDepreciationImpairment lossEquity in earnings of affiliated companiesProvision for allowance for doubtful accountsNet defined assets and liability for retirement benefitsProvision for reserve for bonusesReserve for product warrantiesInterest and dividends receivedInterest paymentsLoss on sale of marketable and investment securitiesLoss on valuation of marketable and investment securitiesLoss on sale of property and equipmentGain on sales of shares in subsidiariesLoss on related to the Act on Prohibition of PrivateMonopolization and Maintenance of Fair TradeIncrease or decrease in trade notes and accounts receivableIncrease in inventoriesIncrease or decrease in other current assetsIncrease or decrease in trade notes and accounts payableIncrease or decrease in accrued expenses and othercurrent liabilitiesOthersSubtotalInterest and dividend receivedInterest paidLost related to the Act on Prohibition to PrivateExpenses for damagesIncome taxes paidNet cash provided by operating activitiesCash flows from investing activitiesPayments into time depositsProceeds from the redemption of time depositsPayments for purchase of marketable and investmentsecuritiesProceeds from sale of marketable and investment securitiesProceeds from sale of shares in subsidiaries resulting inrevised scope of consolidationAcquisition of property and equipmentProceeds from sale and disposal of property and equipmentPayments for new loansProceeds from loan repaymentsOthersNet cash used in investing activities1159,42937,9621,331595 7951959 49 2,241581 217－525 261,17235,811－656 11 1,67970 5 2,601781 1,06710429－4168 7,796 8,4293,2317,6357,213 10,191 2,531 1,8921,522 1,246 4,61290,0062,236 581 40 91 16,56774,962 7,70377,2862,596 781－－ 13,39265,707 124,085153,186 141,365133,651 348 16,2211,1391,6062,221－ 33,533512 45 185 1,093 28,932445 65 1,336 52,151

( millions)Fiscal 2022April 1, 2021to March 31, 2022Fiscal 2021April 1, 2020to March 31, 2021Cash flows from financing activitiesIncrease in short-term loansIncrease in long-term debtRepayment of long-term debtPayments for repurchase of treasury stockProceeds from exercise of stock optionsDividends paid by parent companyDividends paid to non-controlling shareholdersNet cash used in financing activitiesEffect of exchange rate changes on cash and cashequivalentsIncrease in cash and cash equivalentsCash and cash equivalents at beginning of yearCash and cash equivalents at end of year12 301216 9,416 10 6,432 2,388 18,3241,241336 383 10 8,684 998 ,581

(5) Notes to Consolidated Financial Statements(Going Concern Assumption)None(Changes in Accounting Policies)(Application of Accounting Standard for Revenue Recognition)The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31,2020, Accounting Standards Board of Japan”), etc. from the beginning of the fiscal 2022.As a result, for some transactions of subsidiaries, revenue will be recognized for a certain period of time forperformance obligations that are satisfied over a certain period of time.The Company has applied the Accounting Standard for Revenue Recognition transitionally, in accordance with theproviso in Article 84 of the standard. The cumulative effect amount, applying with the new accounting policyretrospectively prior to the beginning of the first quarter was adjusted to retained earnings at the beginning of the fiscal2022 and the Company has applied the new policy to the balance at the beginning of the fiscal 2022. In addition, thereis not any significant impact on the consolidated financial statement by application of the Revenue RecognitionAccounting Standard, etc.“Notes and accounts receivable – trade” is included in and presented as part of “Notes and accounts receivable-trade, and contract assets”. In accordance with the transitional treatment stipulated in paragraph 89-2 of theAccounting Standard for Revenue Recognition, the amounts reported in the previous fiscal year ended March 31, 2021are not reclassified using the new presentation method.(Application of Accounting Standard, etc. for Fair Value Measurement)The Company has applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30, July 4,2019, Accounting Standards Board of Japan,”), from the beginning of the fiscal 2022. The company has prospectivelyapplied new accounting policies based on the Accounting Standard for Fair Value Measurement, in accordance withthe transitional measurement in Article 19 of Accounting Standard for Fair Value Measurement and Article 44-2 of“Accounting Standard for Financial Instruments,” (ASBJ Statement No.10, July 4, 2019). There is no impact onconsolidated financial statements for fiscal 2022 by this application.13

(Segment Information)1. Overview of Reporting SegmentsThe KOITO Group produces primarily automotive lighting equipment in Japan and overseas, and supplies products tocountries around the world as a global supplier. Each local subsidiary is an independent business entity, and the Groupdoes business by establishing a comprehensive plan for each region. The Company’s six reporting segments are thereforegeographical segments based on production and sales structures, comprising Japan, North America, China, Asia, Europeand Other regions.Within each of these geographical segments are segments that produce and sell automotive lighting equipment, railroadcar control equipment, aircraft components, and seats for railroad cars and aircraft.2. Calculation for Net Sales, Segment Income or Loss, Assets, Liabilities and Others of Reporting SegmentsAccounting treatment for reporting segments are same as Consolidated Financial Statements.Income of reporting segments is based on operating income.Inter-segment sales and transfers are based on general market prices.3. Information Concerning Net Sales and Operating Income or Loss for Each SegmentⅠFiscal 2021 (April 1, 2020 to March 31, 2021)Net salesSales to outsidecustomersInter-segment salesand transfersTotalSegment operatingincome or lossSegment assetsOther itemsDepreciationImpairment lossIncrease in property,plant and equipmentand intangible fixedassets( millions)Amountrecorded onAdjustment consolidated(Note 1)financialstatements(Note 7636,53667015,2186,267 1,285 talNotes: 1. Adjustments are as follows:(1) The 192 million adjustment in segment operating income includes 5,744 million in intersegment eliminationsand 5,551 million in unallocated expenses. Unallocated expenses comprise expenses related to managementdivisions such as administrative and accounting divisions of the Head Office of the parent company.(2) The 257,180 million adjustment in segment assets includes 7,474 million in intersegment eliminations, 194,086 million in surplus operational funds at the parent company

Consolidated Earnings Report for Fiscal 2022 [Japanese GAAP] April 27, 2022 Company Name: KOITO MANUFACTURING CO., LTD. Stock Listing: Prime Market, Tokyo Stock Exchange