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    6502   JP3592200004

TOSHIBA CORPORATION

(6502)
  Report
Delayed Japan Exchange  -  02:00 2022-09-27 am EDT
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Toshiba : FY2022 Q1

08/10/2022 | 03:56am EDT

August 10, 2022

Toshiba Corporation

FOR IMMEDIATE RELEASE

Toshiba Announces Consolidated Financial Results

for the First Quarter of the Fiscal Year 2022, Ending March 2023

TOKYO--Toshiba Corporation (TOKYO: 6502) (hereinafter "Toshiba" or "the Company") today announced its consolidated results for the first quarter of the fiscal year (FY) 2022, ending March 31, 2023.

Note:

For convenience only, all dollar amounts used in reporting the first quarter of FY2022 are calculated at 137 yen to the dollar.

Consolidated Financial Results for the First Three Months Ended June 30, 2022 (Under U.S. GAAP)

August 10, 2022

Company name

: Toshiba Corporation

Stock exchange listings

: Tokyo, Nagoya

Securities code

: 6502

URL: http://www.toshiba.co.jp

Representative

: Taro Shimada, Representative Executive Officer, President and CEO

Contact info

: Kazuyoshi Ishiyama, Corporate Officer, General Manager, Corporate Communications Div.

TEL: 03-3457-2095

Scheduled date of quarterly report filing

: August 10, 2022

Scheduled date of dividend payment

: August 8, 2022

Supplemental materials of quarterly results

: Yes

Financial results briefing

: Yes

1. Consolidated financial results for the first three months ended June 30, 2022 (April 1, 2022 - June 30, 2022)

(1) Consolidated Operating Results

(% indicates changes from the previous corresponding period)

Net sales

Operating income

Income before income taxes

Net income attributable to

and noncontrolling interests

shareholders of the Company

Three months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

June 30, 2022

740,650

1.8

(4,808)

-

41,714

42.8

25,893

43.9

June 30, 2021

727,863

21.3

14,528

-

29,202

-

17,996

-

Note: Comprehensive income

For the three months ended June 30, 2022:

¥45,406million

(155.3%)

For the three months ended June 30, 2021:

¥17,782million

(-%)

Earnings per share

Diluted earnings per share

Three months ended

Yen

Yen

June 30, 2022

59.85

59.50

June 30, 2021

39.65

-

(2) Consolidated financial position

Total assets

Total equity

Shareholders' equity

Shareholders' equity ratio

Shareholders' equity

per share

As of

Millions of yen

Millions of yen

Millions of yen

%

Yen

June 30, 2022

3,841,472

1,392,672

1,221,733

31.8

2,823.88

March 31, 2022

3,734,519

1,366,664

1,206,634

32.3

2,788.95

2. Cash dividends

Dividends per share

First quarter

Second quarter

Third quarter

Year-end

Total

Yen

Yen

Yen

Yen

Yen

FY2021

110.00

40.00

-

70.00

220.00

FY2022

160.00

FY2022 (Forecast)

60.00

-

70.00

290.00

Note: Revisions to the forecast of cash dividends most recently announced: None

Note: Breakdown of 1Q dividend for the fiscal year ended March 2022: the special dividend of 110.00 yen.

Breakdown of 1Q dividend for the fiscal year ending March 2023: the special dividend of 160.00 yen.

3. Forecast of Consolidated Results for the Fiscal Year ending March 31, 2023 (April 1, 2022 - March 31, 2023)

(% indicates changes from the previous year)

Net sales

Operating income

Millions of yen

%

Millions of yen

%

FY2022

3,300,000

(1.1)

170,000

7.0

Note: Revisions to the forecast of consolidated results most recently announced: None

Note: Since Toshiba is not involved in the management of Kioxia Holdings (hereinafter "Kioxia") and is not provided with any forecasted business results, Toshiba Group's forward-looking statements concerning income before income taxes, net income attributable to shareholders of the Company and earnings per share do not include the impact of Kioxia.

  • Notes
    1. Changes in significant subsidiaries during the period (changes in Specified Subsidiaries involving changes in the scope of consolidation): None
    2. Adoption of simplified method of accounting or specific accounting treatments: Yes Please refer to "Others" for details.
    3. Changes in accounting policies
    1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
    2. Changes in accounting policies due to other reasons: None
    1. Number of issued shares (common stock)
    1. Total number of issued shares at the end of the period (including shares of treasury stock)

As of June 30, 2022

433,137,955 shares

As of March 31, 2022

433,137,955 shares

2) Number of shares of treasury stock at the end of the period

As of June 30, 2022

495,138 shares

As of March 31, 2022

489,871 shares

3) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2022

432,644,936 shares

Three months ended June 30, 2021

453,836,861 shares

* This summary of quarterly financial statements is not subject to quarterly review by certified accountants or audit corporations.

Consolidated

Comparative Consolidated Balance Sheets

(¥ in millions, US$ in thousands)

Jun. 30, 2022

Mar. 31, 2022

(A)-(B)

Jun. 30, 2022

(A)

(B)

Assets

Current assets

¥2,327,061

¥2,266,041

¥61,020

$16,985,847

Cash and cash equivalents

483,976

421,219

62,757

3,532,672

Notes, accounts receivable and contract assets

697,925

859,186

(161,261)

5,094,343

Inventories

617,614

531,788

85,826

4,508,131

Other current assets

527,546

453,848

73,698

3,850,701

Long-term receivables

6,273

5,161

1,112

45,788

Investments

569,213

558,446

10,767

4,154,840

Property, plant and equipment

473,178

460,326

12,852

3,453,854

Operating lease right-of-use assets

101,283

105,027

(3,744)

739,292

Other assets

364,464

339,518

24,946

2,660,321

Total assets

¥3,841,472

¥3,734,519

¥106,953

$28,039,942

Liabilities and equity

Current liabilities

¥1,613,017

¥1,509,867

¥103,150

$11,773,847

Short-term borrowings

104,629

75,680

28,949

763,715

and current portion of long-term debt

Notes and accounts payable

452,715

482,266

(29,551)

3,304,489

Current operating lease liabilities

35,735

36,515

(780)

260,839

Other current liabilities

1,019,938

915,406

104,532

7,444,804

Accrued pension and severance costs

274,786

277,057

(2,271)

2,005,737

Non-current operating lease liabilities

68,520

72,568

(4,048)

500,146

Long-term debt and other liabilities

492,477

508,363

(15,886)

3,594,723

Equity

1,392,672

1,366,664

26,008

10,165,489

Equity attributable to shareholders of the Company

1,221,733

1,206,634

15,099

8,917,759

Common stock

200,869

200,869

-

1,466,197

Additional paid-in capital

-

-

-

-

Retained earnings

1,113,642

1,118,039

(4,397)

8,128,773

Accumulated other comprehensive loss

(90,498)

(110,011)

19,513

(660,569)

Treasury stock

(2,280)

(2,263)

(17)

(16,642)

Equity attributable to noncontrolling interests

170,939

160,030

10,909

1,247,730

Total liabilities and equity

¥3,841,472

¥3,734,519

¥106,953

$28,039,942

Breakdown of accumulated other comprehensive loss Net unrealized gains and losses on securities Foreign currency translation adjustments Pension liability adjustments

Unrealized gains and losses on derivative instruments Total interest-bearing debt

¥(426)

¥(227)

¥(199)

$(3,109)

44,219

14,150

30,069

322,766

(117,025)

(119,821)

2,796

(854,197)

(17,266)

(4,113)

(13,153)

(126,029)

¥498,194

¥502,422

¥(4,228)

$3,636,453

- 1 -

Consolidated

Comparative Consolidated Statements of Operations

First Quarter ended June 30

(¥ in millions, US$ in thousands)

Three months ended June 30

2022(A)

2021(B)

(A)-(B)

(A)/(B)

2022

Sales and other income

Net sales

¥740,650

¥727,863

¥12,787

102%

$5,406,204

Interest income

377

358

19

105%

2,752

Dividend income

983

878

105

112%

7,175

Equity in earnings of affiliates

15,282

6,383

8,899

239%

111,547

Other income

43,706

15,625

28,081

280%

319,022

Costs and expenses

Cost of sales

556,698

535,325

21,373

104%

4,063,489

Selling, general and administrative expenses

188,760

178,010

10,750

106%

1,377,810

Interest expenses

1,350

1,065

285

127%

9,854

Other expenses

12,476

7,505

4,971

166%

91,065

Income before income taxes

41,714

29,202

12,512

143%

304,482

and noncontrolling interests

Income taxes

5,557

5,721

(164)

97%

40,562

Net income before noncontrolling interests

36,157

23,481

12,676

154%

263,920

Less:Net income attributable to

10,264

5,485

4,779

187%

74,920

noncontrolling interests

Net income attributable to

¥25,893

¥17,996

¥7,897

144%

$189,000

shareholders of the Company

- 2 -

Disclaimer

Toshiba Corporation published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 07:55:11 UTC.


© Publicnow 2022
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Sales 2023 3 323 B 22 947 M 22 947 M
Net income 2023 189 B 1 307 M 1 307 M
Net Debt 2023 203 B 1 403 M 1 403 M
P/E ratio 2023 12,3x
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Capitalization 2 229 B 15 391 M 15 391 M
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Mean consensus HOLD
Number of Analysts 8
Last Close Price 5 152,00 JPY
Average target price 5 091,25 JPY
Spread / Average Target -1,18%
EPS Revisions
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Taro Shimada Senior Managing Executive Officer
Masayoshi Hirata CFO, Head-Accounting & Finance Management
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