TOTO : Result for the Three Months Ended June 30, 2022

First Quarter Results

for Fiscal Year Ending March 2023

TOTO LTD.

July 29, 2022

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First Quarter Results

for Fiscal Year Ending March 2023

Highlights

Increased sales and decreased profits

Japan Housing Equipment Business: Flat net sales and lower profits

• Demand for housing was firm, but net sales remained flat and profits decreased due to soaringraw-material prices and the impact of parts procurement difficulties.

International Housing Equipment Business:

Increased sales and decreased profits

• Weakness in the real estate market and the spread ofCOVID-19 infections in some areas led to lower sales and profits in the Mainland China Business.
• Sales and profits in the Asia business increased due to strong performance in the Taiwan region
• In the Americas business, sales rose due to strong 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 are increased in the advanced ceramics business due to rising demand in the semiconductor market.

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Financial results

Unit: Y billion

	FY21	FY22
	YoY	Influence of	Currency-
	1Q	1Q
		exchange rate	neutral basis
Net Sales	145.7	153.5	+7.7	+4.2	+3.5
(105%)	(102%)
Operating Profit	12.1	10.2	-1.9	+0.5	-2.5
[Operating Margin]	【8.3%】	【6.7%】	(84%)	(80%)
Recurring	12.9	15.4	+2.4	+4.8	-2.4
Profit	(119%)	(82%)
Profit attributable	9.0	10.5	+1.6	+4.6	-3.1
to owners of parent	(117%)	(66%)

• Exchange rates

	1Q, FY21	1Q, FY22
1 $	¥106.1	¥116.3
1 CNY	¥16.4	¥18.3
1 €	¥127.8	¥130.4

Planvs.Plan

152.0 +1.5

(101%)

8.7 +1.5

【5.7%】(117%)

9.7 +5.7

(159%)

6.6 +3.9

(160%)

Increased sales. Recurring profit and quarterly net profit increased but

operating profit decreased.

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Sales and profit by business segment

Unit: Y billion

	FY21	FY22
＜Net Sales＞		YoY	Influence of	Currency-
1Q	1Q
				exchange rate	neutral basis
Japan H.E.	103.1	103.3	+0.2			+0.2
(100%)			(100%)
International H.E.	36.0	39.0	+2.9		+3.6	-0.6
(108%)		(98%)
New Domain	6.5	11.1	+4.6		+0.7	+3.9
(170%)		(160%)
Others	0.1	0.1	+0.0		+0.0	+0.0
Total	145.7	153.5	+7.7		+4.2	+3.5
(105%)		(102%)
	FY21	FY22
＜Operating Profit＞		YoY	Influence of	Currency-
1Q	1Q
				exchange impact	neutral basis
Japan H.E.	5.8	2.8	-2.9			-2.9
(49%)			(49%)
International H.E.	5.8	3.0	-2.8		+0.5	-3.3
(51%)		(42%)
New Domain	1.2	4.9	+3.7		+0.0	+3.6
			（4.0 times)
	（4.1 times)
Others	-0.6	-0.5	+0.1		+0.0	+0.1
Total	12.1	10.2	-1.9		+0.5	-2.5
(84%)		(80%)

Planvs.Plan

103.1 +0.3

(100%)

38.9 +0.1

(100%)

10.0 +1.1

(111%)

0.1 +0.0

152.0 +1.5

(101%)

Planvs.Plan

2.7 +0.1

(105%)

3.0 -0.0

(99%)

3.5 +1.4

(140%)

-0.5 +0.0

8.7 +1.5

(117%)

Both sales and profits increased in New domain business.

However, sales increased and profits decreased in the Japan H.E. and International H.E. business.

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