Toshiba Tec Corporation

6588

JP3594000006

Office Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-24 am EDT			5-day change	1st Jan Change
3,065 ^JPY	+2.23%		+0.99%	+4.93%

Apr. 23	Toshiba Tec Concludes Inkjet Business Transfer to Riso Kagaku	MT
Apr. 18	Sharing Energy Co., Ltd. announced that it has received ¥9.59 billion in funding from a group of investors	CI

Toshiba Tec : FY2023 Consolidated Business Results

May 10, 2024 at 02:05 am EDT

FY2023 Consolidated Business Results

Toshiba Tec Corporation

May 10, 2024

Contents

Key Messages

FY2023 Consolidated Business Results

FY2024 Forecast

Key Messages

In FY2023, the domestic retail and workplace businesses performed well, while the overseas retail business saw a decrease in sales and profits

Both the domestic retail and workplace businesses remained steady, resulting in an increase in sales and profits The overseas retail business saw cautious investment trends from customers due to uncertainties in the market

The dividend for FY2023 is 25 yen at the end of the period and 45 yen annually

The planned dividend was implemented, taking into account that the reversal of deferred tax assets does not affect cash

In FY2024, the formation of a joint venture with Ricoh (the company name of the joint venture is ETRIA) and the transfer of the inkjet head business to RISO KAGAKU CORPORATION will be implemented, accelerating the business structure transformation

The business structure transformation and corporate transformation will be implemented

The operating profit forecast for FY2024 is 18 billion yen, an increase of 2.1 billion yen, and the net profit for the current period is 20 billion yen, a significant increase from the previous year

Operating profit increased due to an increase in HW orders in the overseas retail business

Net profit for the current period increased significantly due to extraordinary income of approximately 19.5 billion yen from the transfer of business to ETRIA and RISO KAGAKU CORPORATION

FY2023 Consolidated Business Results

FY2023 Business Results (Consolidated)

(Billions of yen)

FY2023

FY2022

Difference

Actual

Forecast

(Feb 7)

Actual

vs FY2023

Forecast

(Feb 7)

Actual

Net Sales

548.1

545.0

510.8

+3.1

+37.4

Operating Profit

15.9

18.0

16.1

△2.2

△0.2

(Rate of sales)

(2.9%)

(3.3%)

(3.1%)

Ordinary Profit

11.0

15.0

13.1

△4.0

△2.1

(Rate of sales)

(2.0%)

(2.8%)

(2.6%)

Loss Attributable to

△6.7

0.0

△13.7

△6.7

7.0

Owners of Parent

(Rate of sales)

(-%)

Dividends

45Yen

40Yen

+5Yen

Foreign Currency

US$

143.81

142.31

135.11

+1.50

+8.70

Exchange Rate (Yen) EUR

156.27

154.03

140.86

+2.24

+15.41

FY2023/4Q Business Results (Quarterly)

																						(Billions of yen)

					FY2023/1Q		FY2023/2Q	FY2023/3Q				FY2023/4Q				FY2023

						Actual		Actual			Actual					Actual				Actual

Net Sales					122.4		141.3			133.1				151.4			548.1

Operating Profit				1.3		4.6		3.6				6.4						15.9

		(Rate of sales)				(1.1%)		(3.3%)		(2.7%)			(4.2%)						(2.9%)

						Quarterly net sales and operating profit

																					151.4
134.6		130.6		136.3					141.3				133.1					Net sales
		122.4


109.3


																					6.4		Operating
			5.8	5.8	4.3				4.6						profit
											3.6


0.2										1.3


	1Q	2Q	3Q	4Q				1Q			2Q		3Q			4Q
					FY2022											FY2023
																					Corporation 7
																						© 2024 Toshiba Tec

Operating Profit Analysis of FY2023

16.1

					(Billions of yen)
Gross Profit		SG&A	*This chart shows
	profit transition
+21.6				▲21.8

Impact of

Personnel

Sales

exchange rate

Expenses

R&D

changes

▲6.1

mix

+8.7

▲3.8

Others

Sales

+3.9

▲4.0

15.9

volume

Impact of

+8.9

exchange rate

changes

FY2022	▲7.8	FY2023

Operating		Operating
Profit		Profit

FY2023 Business Results by Segment

(Billions of yen)

FY2023

FY2022

Difference

vs FY2023

Actual

Forecast

(Feb 7)

Actual

Forecast

(Feb 7)

Actual

Retail Solutions

Net Sales

311.0

310.0

297.0

+1.0

+14.1

Business Group

Operating Profit

2.3

6.5

9.2

△4.3

△6.9

(Rate of sales)

(0.7%)

(2.1%)

(3.1%)

300.0

250.0

200.0

150.0

100.0

50.0

0.0

Domestic	8.5	Domestic	5.4
Overseas △6.2	Overseas	3.8
Total	2.3	Total	9.2

311.0	Sales by regions
297.0

28.4	23.8		Others
23.9
28.8

81.7	88.4		Europe


		Americas

Domestic

177.0	156.0

FY2023

FY2022

FY2023/4Q Business Results by Segment (Quarterly)

																						(Billions of yen)

										FY2023/1Q		FY2023/2Q	FY2023/3Q			FY2023/4Q			FY2023
										Actual				Actual		Actual			Actual			Actual

	Retail Solutions			Net Sales			69.1		80.5		74.3			87.0			311.0

	Business Group

						Operating Profit	△0.8	1.7	△1.3			2.6					2.3
							(Rate of sales)
							(-%)	(2.1%)	(-%)			(3.0%)					(0.7%)
								Quarterly net sales and operating profit

						82.0					87.0
									78.5						80.5
																		Net sales
						73.0			69.1				74.3
63.4



						4.8
										3.0												2.6	Operating
																1.7								profit
							1.3
0.1


														△0.8				△1.3

		1Q	2Q		3Q	4Q			1Q	2Q		3Q		4Q

							FY2022								FY2023					Corporation 10
																					© 2024 Toshiba Tec

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Toshiba TEC Corporation published this content on 10 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2024 06:04:10 UTC.

Latest news about Toshiba Tec Corporation

Toshiba Tec Concludes Inkjet Business Transfer to Riso Kagaku	Apr. 23	MT
Sharing Energy Co., Ltd. announced that it has received ¥9.59 billion in funding from a group of investors	Apr. 17	CI
Toshiba Tec Corporation(TSE:6588) dropped from FTSE All-World Index	Mar. 17	CI
SpaceEngine Co., Ltd. announced that it has received ¥300 million in funding from GxPartners LLP, IGNITIONPOINT Venture Partners Inc., Spiral Capital LLP., giftee Inc., Toshiba Tec Corporation and other investors	Feb. 27	CI
Jefferies Adjusts Toshiba TEC's Price Target to 3,700 Yen From 3,500 Yen, Keeps at Buy	Feb. 08	MT
Toshiba Tec's Fiscal Q1-Q3 Loss Widens	Feb. 08	MT
Ricoh and Toshiba Tec Agree on Shares Allotment Amid Split, Newly Formed Entity Etria	Feb. 07	MT
Toshiba Tec Corporation Provides Year End Dividend Guidance for the Fiscal Year Ending March 31, 2024	Feb. 07	CI
Toshiba Tec Corporation Revises Consolidated Earnings Guidance for the Year Ending March 31, 2024	Feb. 07	CI
Riso Kagaku to Set Up Inkjet Manufacturing Subsidiary in April	Feb. 05	MT
Toshiba Tec Corp. Set To Receive 6.44 Billion Yen from Subsidiary Feb. 29	Jan. 21	MT
Toshiba Tec to Sell Portion of China Unit for Nearly 10 Billion Yen	Dec. 28	MT
Toshiba Tec to Transfer Inkjet Head Business to Riso Kagaju	Dec. 26	MT
Riso Kagaku Corporation through its subsidiary which is to be established has agreed to acquire Inkjet business of Toshiba Tec Corporation and Tec Precision Co., Ltd from Toshiba Tec Corporation and Tec Precision Co., Ltd. for ¥ 7120 million.	Dec. 21	CI
Toshiba Tec Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024	Nov. 13	CI
Toshiba Tec Corporation Provides Year End Dividend Guidance for the Fiscal Year Ending March 31, 2024	Nov. 13	CI
Toshiba Tec Corporation Announces Second Quarter End Dividend for the Fiscal Year Ending March 31, 2024, Payable on December 1, 2023	Nov. 13	CI
COUNTERWORKS Inc. announced that it has received ¥1.21 billion in funding from a group of investors	23-10-30	CI
Tranche Update on Toshiba Tec Corporation's Equity Buyback Plan announced on August 7, 2023.	23-09-06	CI
Toshiba Tec Corporation's Equity Buyback announced on August 7, 2023, has closed with 2,444,293 shares, representing 4.42% for ¥8,738.35 million.	23-09-04	CI
Toshiba Tec Corporation announces an Equity Buyback for 2,444,300 shares, representing 4.42% for ¥8,738.37 million.	23-08-07	CI
Toshiba Tec Corporation authorizes a Buyback Plan.	23-08-06	CI
Toshiba Tec Completes 82 million Yen Payment for Restricted Stock, Performance-Linked Compensation	23-08-01	MT
Jefferies Adjusts Toshiba TEC’s Price Target to 4,300 Yen From 3,600 Yen, Keeps at Hold	23-05-29	MT
Japan Index Recovers From Sluggish Morning Trade; Ricoh, Toshiba Tec to Integrate Printer Manufacturing Business	23-05-22	MT

Chart Toshiba Tec Corporation

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Company Profile

TOSHIBA TEC CORPORATION is a Japan-based company mainly engaged in the development, manufacture, sale and maintenance of office machinery and electrical machinery. The Company operates through two business segments. The Retail Solutions segment is involved in the development, manufacture, sale and maintenance of point-of-sale (POS) systems for domestic and overseas markets, multifunction devices for the domestic market, auto identification (ID) systems for the domestic market and the other related products. The Printing Solutions segment is involved in the development, manufacture, sale and maintenance of multifunction devices for overseas markets, auto ID systems for overseas markets, inkjet heads for domestic and overseas markets and the other related products.

Sector

Office Equipment

Calendar

2024-08-06 - Q1 2024 Earnings Release (Projected)

More about the company

Income Statement Evolution

More financial data

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

3,065 JPY

Average target price

3,450 JPY

Spread / Average Target

+12.56%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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Other Office Equipment

Toshiba Tec Corporation

Equities

6588

JP3594000006

Office Equipment

Toshiba Tec : FY2023 Consolidated Business Results

Latest news about Toshiba Tec Corporation

Chart Toshiba Tec Corporation

Company Profile

Income Statement Evolution

Analysts' Consensus

EPS Revisions

Quarterly earnings - Rate of surprise

Sector Other Office Equipment