Toshiba : FY2022 Q1 Business Results

FY2022 First Quarter Consolidated Business Results

Masayoshi Hirata

Representative Executive Officer

Corporate Executive Vice President and CFO

Toshiba Corporation

August 10, 2022

© 2022 Toshiba Corporation

Forward-looking Statements

• This presentation contains forward-looking statements concerning future plans, strategies, and the performance of Toshiba Corporation
  (hereinafter "Toshiba" or "the Company") and its consolidated subsidiaries (hereinafter "Toshiba Group" or "the Group").
• These forward-looking statements are not historical facts; rather, they are based on management's assumptions and beliefs in light of the economic, financial, and other data currently available.
• Since Toshiba Group promotes business in various market environments in many countries and regions, its activities are subject to a number of risks and uncertainties that, without limitation, relate to economic conditions, worldwide mega-competition in the electronics business, customer demand, foreign currency exchange rates, tax rules, regulations, and other factors. Toshiba therefore wishes to caution readers that actual results might differ from the expectations. Please refer to the annual securities report (Yuukashoken houkokusho) and the quarterly securities report (Shihanki houkokusho) for detailed information on Toshiba Group's business risk. Both the annual securities report and the quarterly securities report are issued in Japanese only.
• Toshiba Group's fiscal year (FY) runs from April 1 to March 31. H1 refers to the first six months (April-September); H2 refers to the latter six months (October-March); Q1 refers to the first quarter (April-June); Q2 refers to the second quarter (July-September); Q3 refers to the third quarter (October-December); and Q4 refers to the fourth quarter (January-March).
• All figures are consolidated totals for the first three months of FY2022, unless otherwise stated.
• Results in segments have been reclassified to reflect the current organizational structure as of June 30, 2022, unless otherwise stated.
• Since Toshiba is not involved in the management of Kioxia Holdings Corporation (hereinafter "Kioxia") and is not provided with any forecasted business results, Toshiba Group's forward-looking statements concerning financial conditions, results of operation and cash flow do not include the impact of Kioxia.

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Key Points

FY2022/Q1 Actual: YoY net income increased, due to higher non-operating income

FY2022 Forecast: Operating income is 170.0 billion yen, as previously forecasted on May 13, 2022

• Despite lower operating income, YoY net income increased due to higher non-operating income

 Net sales FY2021/Q1 727.9 billion yen	→	FY2022/Q1	740.7 billion yen (YoY +12.8 billion yen)
 Operating income (loss)	FY2021/Q1 14.5 billion yen →	FY2022/Q1 -4.8 billion yen (YoY -19.3 billion yen)
 Net income FY2021/Q1	18.0 billion yen	→	FY2022/Q1	25.9 billion yen (YoY +7.9 billion yen)

• Free cash flows were 93.6 billion yen, with higher cash flows from operating activities than from investing activities
• Amount of orders received was consistent with an average year, but decreased against the comparative due to orders for large-scale projects in the previous year
  Order backlog decreased against the previous year, mainly due to progress in thermal power related projects
• FY2022 full-year operating income is expected to be 170.0 billion yen as noted in the FY2022 forecast released on May 13, 2022, on factors such as sales price up and product mix differences, etc. to counter

semiconductor shortages and soaring material costs, which exceed assumptions made at the beginning of

the term

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Agenda

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Overall Business Results

Business Results by Segment

Supplementary Information

FY2022 Forecast

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Overall Business Results

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