First Half Results

for Fiscal Year Ending March 2023

TOTO LTD.

October 28, 2022

Copyright © TOTO LTD. All Rights Reserved.

Introduction TOTO Business Overview

As of First Half Results

for Fiscal Year Ending March 2023

Japan Housing Equipment Business

◆TOTO's core business that has been built up over 100 years

◆Manufacturing and sales of plumbing fixtures and housing equipment

◆For nearly 30 years, TOTO has created demand for remodeling, aiming to transform its management model to one that does not rely on new housing demand

Sales

distribution

ratio

Sanitary ware Washlet Faucet fixtures

66%

System bathroom System kitchen

Basins

International Housing Equipment Business

◆Growth drivers based mainly on washlets and water-saving toilets

◆Business has been promoted in mainland China, Asia, Oceania, the Americas, and Europe, aiming to become an indispensable presence in each country and region

Sales

distribution

ratio

Sanitary ware

27%

Washlet

Faucet fixtures

Bathtubs

Wash

basins

New domain business

◆Grown to become an another growth driver

◆Utilization in the semiconductor field of the technologies and knowhow cultivated in the plumbing field

◆Development of ceramics products for semiconductor and flat panel display manufacturing equipment

Electrostatic

AD film

chucks

Ceramic components

Sales

distribution

ratio

7%

Copyright © TOTO LTD. All Rights Reserved.

First Half Results

for Fiscal Year Ending March 2023

Highlights

Increased sales and decreased profits

Japan Housing Equipment Business: Increased sales and decreased profits

  • Firm demand for housing led to a sales increase, but profits decreased due to the impact of soaring raw-material prices.

International Housing Equipment Business: Increased sales and decreased profits

  • In the Mainland China Business, both sales and profits decreased due to deteriorating market conditions caused by the ongoing real estate price suppression policy, as well as the impact of COVID-19re-spreading.
  • Sales in the Asia business increased due to strong performance in the Taiwan region and the recovery of domestic demand in Vietnam but profits decreased due to external procurement costs.
  • In the Americas business, sales rose due to continued firm Washlet sales, but profits decreased due to the impact of ongoing high logistics costs.

New domain business: Increased sales and profits

  • Both sales and profits increased in the advanced ceramic business due to strong demand for semiconductors.

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1

Financial results

Unit: Y billion

FY21

FY22

YoY

Influence of

Currency-

6 months

6 months

exchange rate

neutral basis

Net Sales

309.5

327.7

+18.2

+12.1

+6.1

(106%)

(102%)

Operating Profit

26.6

20.6

-6.0

+1.2

-7.1

[Operating Margin]

【8.6%】

【6.3%】

(78%)

(73%)

Recurring

28.1

28.9

+0.8

+7.5

-6.7

Profit

(103%)

(76%)

Profit attributable

19.9

18.9

-1.0

+7.1

-8.1

to owners of parent

(95%)

(59%)

  • Exchange rates

1Q, FY21

2Q, FY21

1Q, FY22

2Q, FY22

1 $

¥106.1

¥109.5

¥116.3

¥129.7

1 CNY

¥16.4

¥17.0

¥18.3

¥19.6

1 €

¥127.8

¥131.9

¥130.4

¥138.3

Plan vs.Plan

321.5 +6.2

(102%)

15.0 +5.6

【4.7%】 (138%)

16.1 +12.8

(180%)

10.3 +8.6

(183%)

Increased sales and decreased profits

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TOTO Ltd. published this content on 01 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2022 15:29:03 UTC.