diff --git a/lib/roo/excelx/sheet_doc.rb b/lib/roo/excelx/sheet_doc.rb
index 52bab45e..0e7f2662 100755
--- a/lib/roo/excelx/sheet_doc.rb
+++ b/lib/roo/excelx/sheet_doc.rb
@@ -179,8 +179,10 @@ def extract_hyperlinks(relationships)
         return {} unless (hyperlinks = doc.xpath('/worksheet/hyperlinks/hyperlink'))
 
         Hash[hyperlinks.map do |hyperlink|
-          if hyperlink.attribute('id') && (relationship = relationships[hyperlink.attribute('id').text])
-            [::Roo::Utils.ref_to_key(hyperlink.attributes["ref"].to_s), relationship.attribute('Target').text]
+          if hyperlink['id'] && (relationship = relationships[hyperlink['id']])
+            target_link = relationship['Target']
+            target_link += "##{hyperlink['location']}" if hyperlink['location']
+            [::Roo::Utils.ref_to_key(hyperlink['ref']), target_link]
           end
         end.compact]
       end
diff --git a/spec/lib/roo/excelx_spec.rb b/spec/lib/roo/excelx_spec.rb
index cbbceb79..6c2289f0 100755
--- a/spec/lib/roo/excelx_spec.rb
+++ b/spec/lib/roo/excelx_spec.rb
@@ -382,11 +382,22 @@
   end
 
   describe '#hyperlink' do
-    let(:path) { 'test/files/link.xlsx' }
+    context 'without location' do
+      let(:path) { 'test/files/link.xlsx' }
 
-    it 'returns the expected result' do
-      expect(subject.hyperlink(1, 1)).to eq "http://www.google.com"
-      expect(subject.hyperlink(1, 2)).to eq nil
+      it 'returns the expected result' do
+        expect(subject.hyperlink(1, 1)).to eq "http://www.google.com"
+        expect(subject.hyperlink(1, 2)).to eq nil
+      end
+    end
+
+    context 'with location' do
+      let(:path) { 'test/files/link_with_location.xlsx' }
+
+      it 'returns the expected result' do
+        expect(subject.hyperlink(1, 1)).to eq "http://www.google.com/#hey"
+        expect(subject.hyperlink(1, 2)).to eq nil
+      end
     end
   end
 
diff --git a/test/files/link_with_location.xlsx b/test/files/link_with_location.xlsx
new file mode 100644
index 00000000..393f5aca
Binary files /dev/null and b/test/files/link_with_location.xlsx differ