Brother announces Q1 results

Results for FY2022 Q1 (Apr.-Jun.)

Revenue increased, due mainly to firm performance of the P&S business, in addition to positive FX effects

Business segment profit decreased despite effects from price responses, mainly in the P&S business, due to an increase in SG&A in addition to a significant increase in parts and materials costs and logistics costs

Results

Sales Revenue

199.7 billion yen/+14.8% (YoY)

Business Segment Profit

24.8 billion yen/ -5.3% (YoY)

• The P&S business recorded a substantial increase in revenue due to firm performance of hardware and consumables, in addition to positive FX effects
• Revenue in the Machinery business decreased overall despite firm demand for capital investment in industrial sewing machines among apparel manufacturers as machine tools were affected by production restrictions resulting from supply shortages of parts and materials

Revenue increased due mainly to the firm performance of the P&S business, in addition to positive FX effects.

Profit decreased due to an increase in SG&A in addition to a surge in parts and materials costs and logistics costs despite effects from price responses and sales increase mainly in the P&S business as well as positive FX effects.

Forecast

There have been no changes to the previous forecasts, including the FX Assumption and segment breakdown.

Environmental, Social, Governance (ESG)

Brother Industries (Slovakia) was certified carbon neutral, becoming Brother Group’s second manufacturing facility to receive such a certification after Brother Industries (U.K).

Major efforts toward reducing Carbon Dioxide Emissions

• Efforts to save energy in its factory and offices, including the utilization of a geothermal exchange system for heating and air conditioning
• Efforts to create power by installing solar panels
• Purchase of CO2-free electricity that does not emit CO2 during power generation