Toshiba Tec : Statement of Accounts (2021.3)

Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Year Ended March 31, 2021

[Japanese GAAP]

Company name: TOSHIBA TEC CORPORATION	May 10, 2021
Stock exchange listing: Tokyo
Code number: 6588
URL: https://www.toshibatec.co.jp/
Representative: Hironobu Nishikori	President and CEO
Contact: Akira Abe	Senior Manager of Corporate Communications Division
Phone: [phone]

Scheduled date of Annual General Meeting of Shareholders: June 28, 2021

Scheduled date of commencing dividend payments: June 07, 2021

Scheduled date of filing annual securities report: June 28, 2021

Availability of supplementary briefing material on annual financial results: Yes

Schedule of annual financial results briefing session: Yes

(Amounts of less than one million yen are rounded down)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 01, 2020 to March 31, 2021)

(1) Consolidated Operating Results					(% indicates changes from the previous corresponding period.)
		Net sales		Operating profit	Ordinary profit	Profit attributable to
			owners of parent
Fiscal year ended		Million yen		%	Million yen		%	Million yen	%	Million yen	%
March 31, 2021		405,694		(16.1)	8,263		(40.9)	7,193	(37.8)	7,126	91.0
March 31, 2020		483,799		1.5	13,977		(22.3)	11,559	(29.8)	3,730	(66.7)

(Note) Comprehensive income:	Fiscal year ended March 31, 2021:
	Fiscal year ended March 31, 2020:

¥	14,128 million	[	-%]
¥	(1,383) million	[	-%]

		Diluted earnings per	Rate of return on	Ordinary profit	Operating profit
	Basic earnings per share	to total assets
		share	equity	ratio	to net sales ratio
Fiscal year ended	Yen	Yen	%	%	%
March 31, 2021	129.55	129.46	7.5	2.5	2.0
March 31, 2020	67.84	67.76	4.2	4.1	2.9

(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2021: Fiscal year ended March 31, 2020:

(2) Consolidated Financial Position

• - million
• - million

	Total assets	Net assets	Capital adequacy ratio	Net assets per share
As of	Million yen		Million yen	%	Yen
March 31, 2021	289,313		109,862	35.5	1,867.01
March 31, 2020	288,473		96,384	30.3	1,589.48
(Reference) Equity: As of	March 31, 2021:	¥	102,710 million
As of	March 31, 2020:	¥	87,399 million
(3) Consolidated Cash Flows
	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents at the end
	operating activities	investing activities	financing activities
	of period
Fiscal year ended	Million yen		Million yen	Million yen	Million yen
March 31, 2021	9,240		(9,573)	(4,309)	51,753
March 31, 2020	20,751		(13,844)	(7,051)	53,302

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2. Dividends

			Annual dividends				Payout	Dividends
					Total	to net
								ratio
	1st		2nd	3rd		Year-end	Total	dividends	assets
			(consolidated)
	quarter-end	quarter-end	quarter-end			(consolidated)
Fiscal year ended		Yen	Yen	Yen		Yen	Yen	Million yen	%	%
March 31, 2020		-	20.00	-		10.00	30.00	1,649	44.2	1.8
March 31, 2021		-	0.00	-		20.00	20.00	1,100	15.4	1.2
Fiscal year ending
March 31, 2022		-	20.00	-		-	-		-
(Forecast)

(Note) The forecast for dividends of year end is undecided.

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 01, 2021 to March 31, 2022)

(% indicates changes from the previous corresponding period.)

								Profit attributable to	Basic
	Net sales		Operating profit	Ordinary profit	earnings per
		owners of parent
										share
	Million yen		%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	420,000		3.5	21,000	154.1	18,000	150.2	10,000	40.3	181.79

* Notes:
(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in
scope of consolidation):	No
New	-	(Company name:	)
Exclusion:	-	(Company name:	)

1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
2. 1. Changes in accounting policies due to the revision of accounting standards: No
   2. Changes in accounting policies other than 1) above: No
   3. Changes in accounting estimates: No
   4. Retrospective restatement: No
3. Total number of issued shares (common shares)
4. 1. Total number of issued shares at the end of the period (including treasury shares):

March 31, 2021:	57,629,140	shares
March 31, 2020:	57,629,140	shares
2) Total number of treasury shares at the end of the period:
March 31, 2021:	2,616,163	shares
March 31, 2020:	2,642,915	shares

3) Average number of shares during the period:
Fiscal Year ended March 31, 2021:	55,006,249	shares
Fiscal Year ended March 31, 2020:	54,979,836	shares

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(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 01, 2020 to March 31, 2021)
(1) Non-consolidated Operating Results			(% indicates changes from the previous corresponding period.)
	Net sales			Operating profit			Ordinary profit	Net income
Fiscal year ended	Million yen		%		Million yen	%			Million yen	%	Million yen	%
March 31, 2021	216,332		(19.6)		(2,169)	-		1,297	(84.7)	8,437	-
March 31, 2020	268,970		7.8		7,149	33.4		8,503	2.0	279	(96.9)
	Basic earnings per share	Diluted earnings per share
Fiscal year ended			Yen				Yen
March 31, 2021			153.38		153.27
March 31, 2020			5.07			5.06
(2) Non-consolidated Financial Position
	Total assets			Net assets		Capital adequacy ratio	Net assets per share
As of	Million yen			Million yen				%		Yen
March 31, 2021	197,459			83,476				42.2		1,516.35
March 31, 2020	199,090			75,126				37.7		1,364.27
(Reference) Equity: As of	March 31, 2021:			¥	83,419 million
As of	March 31, 2020:			¥	75,016 million

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Consolidated Financial Statement

Consolidated Balance Sheet

				(Million yen)
			As of March 31,2020	As of March 31,2021
Assets
	Current assets
		Cash and deposits	44,907	42,179
		Group deposits paid	8,394	10,064
		Notes and accounts receivable - trade	59,701	63,928
		Merchandise and finished goods	33,502	31,582
		Work in process	4,974	4,376
		Raw materials and supplies	8,026	6,944
		Other	30,435	24,115
		Allowance for doubtful accounts	(1,393)	(1,394)
		Total current assets	188,549	181,797
	Non-current assets
		Property, plant and equipment
		Buildings and structures	23,657	24,554
		Accumulated depreciation	(17,831)	(18,480)
		Buildings and structures, net	5,825	6,074
		Machinery, equipment and vehicles	45,252	49,532
		Accumulated depreciation	(34,685)	(39,399)
		Machinery, equipment and vehicles, net	10,566	10,133
		Tools, furniture and fixtures	41,155	40,983
		Accumulated depreciation	(36,183)	(35,856)
		Tools, furniture and fixtures, net	4,971	5,126
		Land	1,268	1,270
		Leased assets	30,294	33,981
		Accumulated depreciation	(9,122)	(12,814)
		Leased assets, net	21,171	21,167
		Construction in progress	2,241	1,395
		Total property, plant and equipment	46,046	45,168
		Intangible assets
		Goodwill	2,377	1,633
		Customer relationship assets	426	355
		Other	9,572	9,521
		Total intangible assets	12,376	11,510
		Investments and other assets
		Investment securities	4,276	5,170
		Retirement benefit asset	1,908	4,621
		Deferred tax assets	21,869	27,367
		Other	13,466	13,768
		Allowance for doubtful accounts	(19)	(91)
		Total investments and other assets	41,501	50,837
		Total non-current assets	99,924	107,516
	Total assets	288,473	289,313

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				(Million yen)
			As of March 31,2020	As of March 31,2021
Liabilities
	Current liabilities
		Notes and accounts payable - trade	54,775	48,509
		Short-term borrowings	346	542
		Lease obligations	7,043	7,178
		Accounts payable - other	22,101	20,809
		Income taxes payable	3,845	1,375
		Unearned revenue	12,157	15,014
		Other	30,201	31,917
		Total current liabilities	130,471	125,346
	Non-current liabilities
		Long-term borrowings	804	1,019
		Lease obligations	18,747	18,484
		Retirement benefit liability	35,861	26,624
		Other	6,204	7,976
		Total non-current liabilities	61,617	54,104
	Total liabilities	192,088	179,450
Net assets
	Shareholders' equity
		Share capital	39,970	39,970
		Capital surplus	24	57
		Retained earnings	46,040	52,616
		Treasury shares	(5,422)	(5,372)
		Total shareholders' equity	80,612	87,273
	Accumulated other comprehensive income
		Valuation difference on available-for-sale	1,208	1,681
		securities
		Deferred gains or losses on hedges	(4)	(16)
		Foreign currency translation adjustment	7,795	10,805
		Minimum pension liability adjustments	(521)	(832)
		Remeasurements of defined benefit plans	(1,691)	3,799
		Total accumulated other comprehensive income	6,786	15,436
	Share acquisition rights	110	57
	Non-controlling interests	8,873	7,094
	Total net assets	96,384	109,862
Total liabilities and net assets	288,473	289,313

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