Toshiba : FY2022 Q2 Business Results(998KB)

FY2022 Second Quarter Consolidated Business Results

Masayoshi Hirata

Representative Executive Officer

Corporate Executive Vice President

and Chief Financial Officer

Toshiba Corporation

November 11, 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 six months of FY2022, unless otherwise stated.
• Results in segments have been reclassified to reflect the current organizational structure as of September 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.

© 2022 Toshiba Corporation

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Key Points

FY2022/H1 Actual: YoY net income increased due to higher non-operating income

FY2022 Forecast: Revision of August 10 forecast mainly due to one-time factors

• Although FY2022/H1 operating income decreased YoY, mainly due to one-time factors including provision for HDD product warranty (approximately -13.0 billion yen), goodwill impairment in the Printing business*1 (approximately -10.0 billion yen) and a drastic change in the HDD market, YoY net income increased due to higher non-operating income

 Net sales	FY2021/H1	1,546.4 billion yen → FY2022/H1	1,595.2 billion yen (YoY	+48.8 billion yen)
 Operating income	FY2021/H1	45.0 billion yen → FY2022/H1	2.7 billion yen (YoY	-42.3 billion yen)
 Net income	FY2021/H1	59.8 billion yen → FY2022/H1	100.7 billion yen (YoY	+40.9 billion yen)

• The FY2022 Forecast released on August 10, 2022 was revised mainly due to the above mentioned one-time factors

• Operating income

Previous forecast 170.0 billion yen → Revised forecast 125.0 billion yen (vs. previous forecast -45.0 billion yen)

• Net income (for reference)*2

Previous forecast 200.0 billion yen → Revised forecast 190.0 billion yen (vs. previous forecast -10.0 billion yen)

*1 Treatment in the Group's consolidated accounting, as required by US-GAAP. In Toshiba TEC Corporation's consolidated accounting, most of the goodwill has been equally amortized as of the end of FY2021,

in accordance with J-GAAP.	© 2022 Toshiba Corporation	3
*2 The FY2022 forecast is disclosed for reference only, and does not include Kioxia's forecast of equity earnings (losses).

Agenda

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Overall Business Results

Business Results by Segment

FY2022 Forecast

Supplementary Information

© 2022 Toshiba Corporation

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Overall Business Results

© 2022 Toshiba Corporation

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