TOSHIBA PLANT & SERVICES : Summary of Consolidated Financial Results for the Three Months Ended June 30, 2017

Translation‌‌

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Three Months Ended June 30, 2017 (Based on Japanese GAAP)

Company name: Toshiba Plant Systems & Services Corporation Stock exchange listing: Tokyo

Stock code: 1983 URL http://www.toshiba-tpsc.co.jp

President and Chief Executive Officer,

July 27, 2017

Representative:

Representative Director

Masataka Hayashi

Inquiries: Senior Manager, Administration Department Kengo Tanabe TEL [phone] Scheduled date to file Quarterly Securities Report: August 4, 2017

Scheduled date to commence dividend payments: - Preparation of supplementary material on quarterly financial results: No Holding of quarterly financial results meeting: No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2017 (from April 1, 2017 to June 30, 2017)

2. Consolidated operating results (cumulative) Percentages indicate year-on-year changes

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent
   Three months ended June 30, 2017	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   	39,908	3.3	896	(72.2)	1,210	(66.2)	656	(72.5)
   Three months ended June 30, 2016	38,640	20.6	3,220	35.4	3,577	47.6	2,390	55.0

   Earnings per share	Diluted earnings per share
   Three months ended June 30, 2017	Yen	Yen
   	6.73	-
   Three months ended June 30, 2016	24.53	-

3. Consolidated financial position

   Total assets	Net assets	Equity ratio
   As of June 30, 2017	Millions of yen	Millions of yen	%
   	233,761	132,407	56.5
   As of March 31, 2017	244,407	133,288	54.4

4. Cash dividends

   Annual dividends per share
   1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
   Year ended March 31, 2017	Yen	Yen	Yen	Yen	Yen
   	-	19.00	-	19.00	38.00
   Year ending March 31, 2018	-
   Year ending March 31, 2018 (Forecast)	20.00	-	20.00	40.00

5. Forecast of consolidated financial results for the year ending March 31, 2018 (from April 1, 2017 to March 31, 2018)

   Percentages indicate year-on-year changes

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent		Earnings per share
   Six months ending September 30, 2017	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
   	100,000	4.1	8,000	(4.3)	8,000	(9.1)	5,500	(7.4)	56.46
   Full year	235,000	3.6	19,800	12.6	20,000	4.7	13,500	5.5	138.58

6. Notes

7. (1) Changes in significant subsidiaries during the three months ended June 30, 2017 (changes in specified subsidiaries resulting in the change in scope of consolidation):

   No

   (2) Application of special accounting methods for preparing quarterly consolidated financial statements:

   No

8. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

   Changes in accounting policies due to revisions to accounting standards and other regulations:	No
   Changes in accounting policies due to other reasons:	No
   Changes in accounting estimates:	No
   Restatement of prior period financial statements:	No

9. Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of June 30, 2017

97,656,888

shares

As of March 31, 2017

97,656,888

shares

Number of treasury shares at the end of the period

As of June 30, 2017

244,052

shares

As of March 31, 2017

243,675

shares

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

Three months ended June 30, 2017

97,413,004

shares

Three months ended June 30, 2016

97,413,612

shares

Quarterly consolidated financial statements Consolidated balance sheets

(Millions of yen)
As of March 31, 2017	As of June 30, 2017
Assets
Current assets
Cash and deposits	88,257	103,553
Trade notes and accounts receivable	103,411	67,722
Electronically recorded monetary claims - operating	435	2,292
Inventories	24,225	32,000
Other current assets	9,806	10,818
Less:allowance for doubtful accounts	(1,252)	(1,727)
Total current assets	224,883	214,659
Long-term assets
Property, plant and equipment, at cost	7,097	7,018
Intangible assets	245	243
Investments and other assets
Other	12,299	11,959
Less: allowance for doubtful accounts	(119)	(119)
Total investments and other assets	12,180	11,840
Total long-term assets	19,523	19,101
Total assets	244,407	233,761
Liabilities
Current liabilities
Trade notes and accounts payable	47,308	37,473
Accrued income taxes	4,672	1,683
Advances received on uncompleted construction contracts	13,181	16,075
Allowance for bonuses to directors and statutory auditors	122	152
Completed work compensation reserve	319	419
Provision for loss on construction contracts	3	1
Other current liabilities	14,088	15,088
Total current liabilities	79,695	70,894
Long-term liabilities
Accrued directors' retirement benefits	36	38
Liability for retirement benefit	30,946	29,968
Asset retirement obligations	374	376
Other long-term liability	65	76
Total long-term liabilities	31,423	30,459
Total liabilities	111,118	101,354
Net assets
Shareholders' equity
Common stock	11,876	11,876
Capital surplus	20,910	20,910
Retained earnings	104,455	103,260
Treasury stock, at cost	(165)	(165)
Total shareholders' equity	137,076	135,881

(Millions of yen)
As of March 31, 2017	As of June 30, 2017
Accumulated other comprehensive income
Unrealized gains or losses on securities	(3)	(6)
Deferred gains or losses on hedges	(267)	(273)
Currency translation adjustments	99	131
Retirement benefits liability adjustments	(3,929)	(3,619)
Total accumulated other comprehensive income	(4,101)	(3,767)
Non-controlling interests	313	293
Total net assets	133,288	132,407
Total liabilities and net assets	244,407	233,761