Tokyo Electron Device : 「Delayed」Announcement of Revisions to the Consolidated Financial Forecasts and the Interim Dividends Forecast

September 6, 2021

Company name: TOKYO ELECTRON DEVICE LIMITED Representative: Atsushi Tokushige

President & Representative Director

(TSE First Section, Stock Exchange Code: 2760)

Contact: Hiroki Tanaka

Director, Financial Department

TEL: [phone]

Announcement of Revisions to the Consolidated Financial Forecasts

for the Six Months Ending September 30, 2021 (Cumulative)

and the Fiscal Year Ending March 31, 2022,

and the Interim Dividends Forecast

In light of recent trends in business performance, TOKYO ELECTRON DEVICE LIMITED (the "Company"), hereby announces that it has revised the consolidated financial forecasts for the six months ending September 30, 2021 (cumulative) and the fiscal year ending March 31, 2022, and the interim dividends forecast, released on April 27, 2021, as per the following.

• Revisions to the Financial Forecasts

Revised the consolidated financial forecasts for the six months ending September 30, 2021 (cumulative) (April 1, 2021 to September 30, 2021)

			Net income		Basic net income
	Net sales	Ordinary income	attributable to
		per share
			owners of parent
	Millions of yen	Millions of yen	Millions of yen		Yen
Previous forecast (A)	72,000	1,500	2,000	198.26
Revised forecast (B)	81,000	2,000	2,400	237.91
Difference (B - A)	9,000	500	400
Changes from previous	12.5	33.3	20.0
forecast (%)
(Reference) Results for the
previous second quarter	61,901	1,261	823	81.94
(six months ended
September 30, 2020)

Revised the consolidated financial forecasts for the fiscal year ending March 31, 2022 (April 1, 2021 to March 31, 2022)

			Net income		Basic net income
	Net sales	Ordinary income	attributable to
		per share
			owners of parent
	Millions of yen	Millions of yen	Millions of yen		Yen
Previous forecast (A)	154,000	5,100	4,400	436.17
Revised forecast (B)	163,000	5,600	4,800	475.82
Difference (B - A)	9,000	500	400
Changes from previous	5.8	9.8	9.1
forecast (%)
(Reference) Results for the
previous fiscal year (fiscal	143,268	4,625	3,143	312.38
year ended March 31, 2021)
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Reasons for revisions

Global demand for semiconductors has been growing mainly due to an increase in data traffic. In the Company Group's Electronic Components Business also, sales of a wide range of semiconductor products, including products for industrial and automotive equipment, have continued favorably. Accordingly, the Company has revised the consolidated cumulative financial forecasts for the six months ending September 30, 2021, as presented above.

The Company has not revised the initial financial forecasts beyond the six months ending September 30, 2021 because the impact of relevant factors, such as tight semiconductor supply and demand, and the spread of COVID-19, is still under review, while orders have been robust in the Electronic Components Business. If it becomes necessary to revise the consolidated financial forecasts for the fiscal year ending March 31, 2022, the revisions will be announced promptly.

• Revisions to the Dividends Forecast

		Annual dividends per share
	End of 1Q	End of 2Q	End of 3Q	Year-end	Annual
	Yen	Yen	Yen	Yen	Yen
Previous forecast
(announced on April	―	80.00	―	95.00	175.00
27, 2021)
Revised forecast	―	95.00	―	95.00	190.00
Financial results for the	―	―	―
current fiscal year
Financial results for the
previous fiscal year	―	40.00	―	85.00	125.00
(fiscal year ended
March 31, 2021)

Reasons for revisions

The Company aims for a consolidated payout ratio of 40%, while taking into account the funding needs for future capital investment and R&D as well as working capital trends. Based on this policy and the revisions to the financial forecasts in the previous section, the interim dividends forecast will be revised upward to 95 yen per share. Accordingly, the annual dividends forecast will be 190 yen per share.

(Note) The financial forecasts and forward-looking statements herein are based on currently available information and certain assumptions deemed reasonable at the time of report issuance. The Company does not guarantee the achievement of these forecasts. Actual operating results may differ from these forecasts due to various factors.

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