2013年5月期
Financial
Results Briefing

決算説明会

Fiscal 2012 (Ended May 2013)

July 11, 2013

Toyo Denki Seizo K.K.

Program Briefing on Financial Results: 20 minutes
1. Overview of Financial Results for Fiscal 2012
2. Outlook for Financial Results for Fiscal 2013
 Q&A: 30 minutes

11. Overview of Financial
Results for Fiscal 20122

1-1. Key Points
Overall: Decrease in revenues and earnings• Net sales¥30,600 million YoY -20.7% (-¥8,000 million)• Operating income ¥500 million
YoY -70.5% (-¥1,200 million)
Transportation Systems:Decrease in revenues and earnings• Net sales
YoY -27.8% (-¥6,670 million)• Segment income
YoY -29.2% (-¥790 million)
Industrial Systems:
Slight decrease in revenues, increase in earnings• Net sales
YoY -5.9% (-¥720 million)• Segment income
YoY +71.1% (+¥180 million)
Information Equipment Systems:
Decrease in revenues and earnings• Net sales
YoY -26.2% (-¥600 million)• Segment income
YoY -60.2% (-¥400 million)31-2. Overview of Consolidated Financial Results(Millions of yen)

Fiscal2011

Fiscal2012

YoYchange

Fiscal 2012Forecast

Difference

Net sales

38,57030,575-7,995

33,000-2,425

Operating income

1,701

501

-1,200700-199%

4.4%

1.6%

-2.8%

2.1%

-0.5%

Ordinary income

1,788

1,150-638

750

+400%

4.6%

3.8%

-0.8%

2.3%

+1.5%

Net income

785

722-63

350

+372%

2.0%

2.4%

+0.4%

1.1%

+1.3%

Net income pershare (yen)

16.29

14.98

-1.31

7.26

+7.72

Orders received

32,67033,949+1,27938,000-4,051
41-3. Overview of Business Segment Results(Millions of yen)Ordersreceived

Net salesSegment
incomeTransportation
Systems

Industrial
Systems

Automotive
vehicle electricalequipment

Information
Equipment
Systems

Adjustment
and otheramounts

Total

Fiscal 2011

17,506

12,439

507

2,714

10

32,670Fiscal 2012

20,94011,457

507

1,544

6

33,949YoY change+3,434-982+0-1,170-4+1,279

Fiscal 2011

23,991

12,265

504

2,303

10

38,570Fiscal 2012

17,324

11,542

396

1,701

6

30,575

YoY change-6,667

-723

-108

-602

-4-7,995

Fiscal 2011

2,701

253-281666(1,920)

1,701

Fiscal 2012

1,913

433-161265(2,111)

501YoY change-788+180+120-401-191-1,2005

1-4. Factors Contributing to Changes in Operating Income¥1.7 billion
Increase inoverhead expenses-¥0.03 billion

Decrease in revenues-¥1.47 billion-¥1.2 billion¥0.5 billion

Increase due togross margin
variation+¥0.39 billion
Deterioration insubsidiary profitability-¥0.07 billion

Fiscal 2011

Increase in plant
profitability+¥0.02 billion

Fiscal 20126

1-5. Consolidated Financial Position(Millions of yen)

May 31,2012

May 31,2013

YoYchange

38,08642,364+4,278Current assets

21,41521,943+528Fixed assets

16,67020,421+3,751

Total liabilities

23,036

23,844+808

9,385

9,829+444

Net assets

15,04918,519+3,470

Equity ratio

39.5%

43.7%

+4.2%

Net assets per share (yen)312.12384.14+72.02

Total assets

Of which, interestbearing debt

Notes

Including investment
securities (+4,389)7

1-6. Dividends(1) Toyo Denki’s fundamental policy calls for a stable dividend.
(2) In addition to strategic allocation to research anddevelopment, capital expenditure, and overseas expansion
with the objectives of future business expansion andstrengthening of the management base, internal reserves areused to strengthen the Company’s financial position.
(Yen)

Annual dividend per share

Fiscal
2009

Fiscal
2010

Fiscal
2011

Fiscal
2012

Fiscal 2013

6.00

6.00

6.00

6.00

6.00

(Forecast)8

2. Outlook for Financial Resultsfor Fiscal 20139

2-1. Order Environment by Business Segment
Comments
Market overall(1) Japanese economy still on path to recovery(2) Infrastructure investment remains at a high level in China and developingcountries

Transportation
Systems(1) Recovering domestically due mainly to upgrade demands. Expectations
for new Shinkansen projects going forward(2) Plans for subways and high-speed railroads in China are firming up(3) Investment for railroad infrastructure outside Japan is trending at a highlevel

IndustrialSystems(1) Capital investment in Japan is in an upswing(2) Infrastructure and capital investment in China and developing countries
remains at high levels(3) Electrification needs in and outside Japan are extremely highInformation
Equipment
Systems(1) Upgrading railway station operating equipment is well underway prior toexpected increase in consumption tax(2) Energy efficient remote monitoring systems help expand the market

102-2. Key Fiscal 2013 Forecast Points
Overall: Increase in revenues and earnings• Net sales¥36,000 million• Operating income ¥1,500 million
Transportation Systems:
Increase in revenues and earnings• Net sales• Segment income
Industrial Systems:
Increase in revenues and earnings• Net sales• Segment income
Information Equipment Systems:
Increase in revenues and earnings• Net sales• Segment income

YoY +17.7% (+¥5,430 million)
YoY +199.3% (-¥1,000 million)

YoY +17.2% (+¥2,980 million)
YoY +21.3% (+¥400 million)

YoY +17.8% (+¥2,060 million)
YoY +165.6% (+¥720 million)

YoY +23.5% (+¥400 million)
YoY +20.8% (+¥60 million)112-3. Forecast for Consolidated Financial Results for Fiscal 2013
(Millions of yen)

Fiscal 2012

Fiscal 2013
(Forecast)

YoY change

Net sales

30,57536,000+5,425

Operating income

501

1,500

+999%

1.6%

4.2%

+2.5%

Operating income

1,150

1,500

+350%

3.8%

4.2%

+0.4%

Net income

722

750

+28%

2.4%

2.1%

-0.3%

Net income pershare (yen)

14.98

15.40

+0.42

Orders received33,949

41,000+7,051122-4. Performance Forecasts by Business Segment(Millions of yen)Ordersreceived

Net
sales

Segment income

Transportation
Systems

Industrial
Systems

Automotivevehicle electricalequipment

Information
Equipment
Systems

Adjustment
and otheramounts

Total

Fiscal 2012

20,94011,457

507

1,544

6

33,949Fiscal 2013
(Forecast)

24,00015,000600

2,000－

41,000YoY change+3,060+3,543+93+456-6

7,053

Fiscal 2012

17,324

11,542

396

1,701

6

30,575

Fiscal 2013
(Forecast)

20,30013,600600

2,100－

36,000YoY change+2,976+2,058+204+399-6+5,425

Fiscal 2012

1,913

433(161)265(2,111)

501

Fiscal 2013
(Forecast)

2,320

1,150(30)

320(2,290)

1,500

YoY change+407+717+131+55-179

-999
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3. Other Topics

3-1. Topics: Transportation Systems
 Orders received from JR East forelectrical equipment for the Akita
Shinkansen E6-series rail vehicles
Delivered components
Pantographs, auxiliary power supplies,
driving gear units, traction motors
Akita Shinkansen E6-series (Photo courtesy of JR East) Orders received from JR Tokai forelectrical equipment for the TokaidoShinkansen N700A rail vehicles
Delivered components
Pantographs, traction motors, wheelsets(for M cars), flexible plate couplings, staticconvertors
Shinkansen N700A (Photo courtesy of JR Tokai)
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3-2. Topics: Transportation Systems
 The Macau Light Rail Transit (LRT) begins
operations in 2015

RouteMap Orders received from Mitsubishi Heavy
Industries for electrical equipment for
automated people mover (APM). Delivery tofollow.
Delivered VVVF inverters, traction motors
and reactors (2 vehicles x 55 sets for 110vehicles in total)

1st-phase construction(Macao)1st-phase construction(Taipa)2nd-phase construction(plan)

16

3-3. Topics: Transportation Systems
 Orders received for gear units for high-speed railroad (250 km) in China.
Driving gear unit components:
Gear cases, gear wheels, grounding devices, etc.
For E26 and 28-series:
Total of 51 sets and 840 units (including spare parts)
 Orders received for 12 sets for southern
extension of Line 1 of the Chengdu MetroThe alliance of Toyo Denki, a joint venture of
Toyo Denki, the joint venture partner (Chinesefirm), and a trading firm won the bid and entereda formal contract in June 2013.

Line 1 of the Chengdu Metro17

3-4. Topics: Industrial Systems
 Increased orders for automotive testing equipment• Delivered testing equipment for automotive development simulation forgasoline vehicles, hybrids, EVs, motorcycles and construction equipment ofmajor auto makers in Japan• Inquiries also from affiliated component manufacturers(Millions of yen)

4,000

Orders received for automotive testing equipment

3,500
3,000
2,500
2,000
1,500
1,000
500
0FY2007

FY2008FY2009FY2010FY2011FY2012FY201318

3-5. Topics: EV Systems
 Completion of evaluation sample for EVs
Completed EV system evaluation sample forpassenger vehicle with an eye on EV market efforts
outside Japan.

EV inverter

EV motor19

3-6. Topics: Information Equipment Systems
 Railway station operating equipment: Development of the TID6000 nextgeneration ticket issuing machine
Development of a machine that can handle transit IC cards, issue avariety of tickets and perform monetary settlements. Currently expanding
marketing to railroad clients throughout JapanFeatures• Improved operability by internalizing
credit card reader• Faster ticket issuing with stable ticket
feeding• Greatly improved power savings whenin standby mode
• Improved maintenance

TID600020

3-7. Topics: Information Equipment Systems
 Visualization of electric power consumption by means of Toyo Wireless
Measurement System
Noda Village (Kunohe, Iwate Prefecture)• Joint research with Tokyo University ofMarine Science and Technology• Contribution to disaster reconstruction
assistance• Realization of visualization of electricpower consumption of public facilities
in the village

Toyo Wireless Measurement System
Noda Village
Aomori Pref.

• Employees and others can now
monitor power consumption in realtime using PCs and handheld devices

Akita Pref. Iwate
Pref.

Noda Village OfficeMiyagi Pref.

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3-8. Topics: CSR Initiatives
 Seaside Line and Tour of Joint Factory
Date/Time: Wednesday, December 26, 2012 from 10:15 to 11:45

Background: Request from Yokohama New Transit to hold a joint event
Number of public participants: 42
A wide age-ranging group (4th graders to senior citizens) participated in thefactory tour. Many questions were asked making for a lively tour.

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Thank you for your interest.
http://www.toyodenki.co.jp

Inquiries
PR, IR, and CSR Department, Management Planning Division
Toyo Denki Seizo K.K.
Phone: 03-5202-8122
Email: contact@toyodenki.co.jp

Disclaimer• Statements concerning financial results forecasts are based ondata available as of the date of publication of this material andassumptions concerning the elements of uncertainty that will affectfuture business performance as of the date of publication of thismaterial. Actual financial results may differ depending on a varietyof factors.
• Forward-looking statements contained in this material are thejudgments of the Toyo Denki Group based on data available at thetime of publication of this material. Such statements anddescriptions are by no means comprehensive.

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