Toshiba Tec : Notice of revision to the consolidated financial results forecast for the fiscal year ended March 31, 2024

	May 8, 2024
Listed company:	Toshiba Tec Corporation
Representative:	Hironobu Nishikori
	Representative Director
	President and Chief Executive Officer
	(Securities code: 6588,
	Tokyo Stock Exchange Prime Market)
Contact:	Akira Abe
	General Manager of Corporate
	Communications Division
	(Tel: [phone])

Notice of revision to the consolidated financial results forecast for the fiscal year ended March 31, 2024

Toshiba Tec Corporation (the "Company") hereby announces that the consolidated financial results forecast released on February 7, 2024, for the fiscal year ended March 31, 2024, has been revised as follows.

1. Revision to the consolidated financial results forecast for the fiscal year ended March 31, 2024 (April 1, 2023-March 31, 2024)

				Profit	Basic earnings
	Net sales	Operating profit	Ordinary profit	attributable to
	per share
				owners of parent
	Million yen	Million yen	Million yen	Million yen	Yen
Previously announced forecast (A)	545,000	18,000	15,000	0	0.00
Revised forecast (B)	545,000	16,000	11,000	(6,500)	(120.10)
Change (B)-(A)	－	(2,000)	(4,000)	(6,500)	(120.10)
Change (%)	－	(11.1)	(26.7)	－	－
(Reference) Results of the previous	510,767	16,078	13,149	(13,745)	(248.37)
fiscal year (ended March 31, 2023)

(2) Reasons for revision to the consolidated financial results forecast

Net sales in the consolidated financial results forecast for the fiscal year ended March 31, 2024 are expected to be in line with the previously announced forecast in general. And on the profit front, operating profit and ordinary profit are expected to decrease from the previously announced forecast, mainly due to the shift of the projects of POS systems for the overseas markets and the domestic markets to the next fiscal year, and the impact of non-operating expenses derived from foreign exchange rates, although the profit in Workplace Solutions Business Group improved.

In addition, profit attributable to owners of parent is expected to decline mainly due to the increase of income taxes by increasing taxable income in contrast with the previously announced forecast owing to factors that incomes of domestic consolidated subsidiaries in Retail Solutions and some of overseas consolidated subsidiaries in Workplace Solutions varied from the forecast and the amount of additional items for tax purposes such as intangible assets in non-consolidated basis increased. Based on these factors, the consolidated financial results forecast for the fiscal year ending March 31, 2024 has been revised as stated above.

The reference exchange rates used in the consolidated financial results forecast for the fiscal year ending March 31, 2024 are ¥143.81 to the US dollar and ¥156.27 to the euro.

Additionally, the year-end dividend forecast remains unchanged from 25 yen per share (annual dividend of 45 yen) announced on February 7, 2024.

(Supplementary information)

Consolidated sales forecasts by segment for the fiscal year ending March 31, 2024

					(Million yen)
	Previously				(Reference)
	Revised forecast			Results of the
	announced forecast	Change (B) − (A)	Change (%)	previous fiscal
	(A)	(B)			year (ended March
					31, 2023)
Retail Solutions	310,000	310,000	－	－	296,951
Workplace Solutions	240,000	240,000	－	－	217,672
Eliminations	(5,000)	(5,000)	－	－	(3,857)
Net sales	545,000	545,000	－	－	510,767

Consolidated operating profit forecasts by segment for the fiscal year ending March 31, 2024

					(Million yen)
					(Reference)
	Previously	Revised forecast			Results of the
	announced forecast	Change (B) − (A)	Change (%)	previous fiscal
	(A)	(B)			year (ended March
					31, 2023)
Retail Solutions	6,500	2,500	(4,000)	(61.5)	9,196
Workplace Solutions	11,500	13,500	2,000	17.4	6,882
Operating profit	18,000	16,000	(2,000)	(11.1)	16,078

Average exchange rate forecasts for the fiscal year ending March 31, 2024

					(Yen)
					(Reference)
	Previously	Revised forecast			Results of the
	announced forecast	Change (B) − (A)	Change (%)	previous fiscal
	(A)	(B)			year (ended March
					31, 2023)
Average exchange rate	142.31	143.81	1.50	1.05	135.11
(Yen to the US dollar)
Average exchange rate	154.03	156.27	2.24	1.45	140.86
(Yen to the euro)

• Financial results forecasts and dividends forecasts described in this document are based on information currently available to the Company and certain assumptions deemed reasonable and are not intended to be the Company's guarantee that they will be achieved. Actual results may significantly vary due to a variety of factors.