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 Year Ended March 31, 2017
(Based on Japanese GAAP)May 12, 2017
Company name:TOSHIBA TEC CORPORATION
Stock exchange listing: Tokyo
Stock code:
Representative:

6588
URL http://www.toshibatec.co.jp/
President and CEO
Takayuki Ikeda

Inquiries:

Senior Manager of Corporate
Communications Division

Takashi Mizuno

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

June 28, 2017
June 28, 2017

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:

June 7, 2017
Yes

Holding of financial results meeting:

Yes

TEL

03-6830-9151(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2017 (from April 1, 2016 to March 31, 2017)(1) Consolidated operating results
Net salesYear ended March 31, 2017
Year ended March 31, 2016

Millions of yen
497,611532,818

Earnings per share

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%(6.6)
14,649 814.5
12,534
–
7,758
–
1.6
1,601
(90.6)(2,298)–(103,449)–
Profit attributable toOrdinary profit/total Operating profit/net
owners ofassetssales
parent/equity
Yen
%
%
%
28.20
12.6
4.5
2.9
–
(90.5)(0.7)
0.3

Diluted earnings per
share

Yen
28.24
(376.69)

Year ended March 31, 2017
Year ended March 31, 2016
(2) Consolidated financial position

Total assets
As of March 31, 2017
As of March 31, 2016

Net assets

Equity ratio

Millions of yen
269,393281,615

Millions of yen
76,04770,359Cash flows fromoperating activities
Millions of yen
37,016
4,567

Cash flows frominvesting activities
Millions of yen(6,876)(9,789)Net assets per share
%
24.3
20.4

Yen
238.07208.93(3) Consolidated cash flows

Year ended March 31, 2017
Year ended March 31, 2016

Cash flows from
Cash and cash equivalents
financing activities
at end of period
Millions of yen
Millions of yen(5,439)46,129(23,941)
22,6602. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2016
Year ended March 31, 2017
Year ending March 31, 2018
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

–
–

0.00
0.00

–
–

0.00
2.00

0.00
2.00

0
549

–
7.1

0.0
0.9

–

2.00

–

2.00

4.00

1

18.3

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

Net sales
Millions of yen
Six months ending
September 30, 2017
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen

233,000

(4.3)

5,000

(22.4)

3,500(53.7)

1,500(65.2)

5.45

490,000(1.5)

16,0009.2

13,0003.7

6,000(22.7)

21.83

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2017(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) 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:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2017

288,145,704 shares As of March 31, 2016

288,145,704 shares

Number of treasury shares at the end of the period
As of March 31, 201713,414,545 shares As of March 31, 2016

13,505,268 shares

274,700,360 shares Year ended March 31, 2016

274,625,555 shares

Average number of shares during the period
Year ended March 31, 20172

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2016

As of March 31, 2017

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade22,21776,47046,12963,769Merchandise and finished goods
Work in process

38,4681,960

32,8491,629

Raw materials and supplies
Deferred tax assets

6,428
4,913

6,100
7,560

Other
Allowance for doubtful accounts

47,009(2,774)32,900(2,572)

Total current assets

194,694

188,367

27,875(20,995)

25,480(19,038)

Buildings and structures, net

6,880

6,441

Machinery, equipment and vehicles
Accumulated depreciation

42,957(35,451)

43,742(36,279)

Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation

7,506

7,462

48,204(43,659)

47,441(41,536)

4,544

5,904

2,119
11,805

1,640
11,220(5,093)(4,874)

Leased assets, net

6,711

6,346

Construction in progress

3,583

1,272

Total property, plant and equipment

31,34529,068Intangible assets
Goodwill

8,633

6,053

Customer Relationship Assets
Other

710
7,596

639
7,624

Total intangible assets

16,94014,317

Investments and other assets
Investment securities

4,881

5,350

Net defined benefit asset
Deferred tax assets

1,325
17,2272,204
16,731Other
Allowance for doubtful accounts

15,262(61)

14,008(655)

Total investments and other assets

38,63537,640Total non-current assets
Total assets

3

86,921

81,026281,615

269,393(Millions of yen)
As of March 31, 2016

As of March 31, 2017

Liabilities
Current liabilities
Notes and accounts payable - trade71,17561,860

Short-term loans payable
Lease obligations

3,407
4,435

1,048
4,033

Accounts payable - otherAccrued expenses

29,557
13,23424,044
13,816

Income taxes payable
Other

3,643
33,1495,485
32,786

Total current liabilities

158,604

143,076

Non-current liabilities
Lease obligations

5,954

5,172

Net defined benefit liability
Other38,6878,010

35,066
10,030Total non-current liabilities

52,65250,269211,256

193,346

Shareholders' equity
Capital stock

39,97039,970Capital surplus
Retained earnings

52,970(41,006)11
19,722

Treasury shares(5,523)(5,488)

Total shareholders' equity

46,411

54,217

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

1,476
71

1,581
(6)

Foreign currency translation adjustment
Minimum Pension Liability Adjustment

11,740
(461)

8,927
(720)

Remeasurements of defined benefit plans(1,857)

1,407

Total accumulated other comprehensive income

Total liabilities
Net assets

Accumulated other comprehensive income

10,96911,189Subscription rights to shares

116

104

Non-controlling interests

12,862

10,537

Total net assets

70,35976,047

281,615

269,393

Total liabilities and net assets

4Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2016

Fiscal year ended
March 31, 2017

Net sales

532,818

497,611

Cost of sales

315,732

298,128

Gross profit

217,085

199,483

Selling, general and administrative expenses

215,483

184,833

1,601

14,649345

250

Dividend income
Gain on sales of investment securities

93
97

95
–

Foreign exchange gains
Other

–
273

616
459

Total non-operating income

810

1,421

962

639

Loss on sales and retirement of non-current assets
Foreign exchange losses

35
837

173
–

Loss on valuation of derivatives
Foreign withholding tax

542
55

629
571

2,277

1,522

Operating profit
Non-operating income
Interest income

Non-operating expenses
Interest expenses

Other
Total non-operating expenses
Ordinary profit (loss)
Extraordinary income
Gain on sales of shares of subsidiaries
Total extraordinary income
Extraordinary losses
Impairment loss

4,711

3,536

(2,298)12,534

–

2,114

–

2,114

85,023–

Restructuring cost
Loss on transfer of business

1,440
325

1,002
–

Total extraordinary losses

86,788

1,002

Profit (loss) before income taxes(89,087)

13,646

Income taxes - current
Income taxes - deferred

12,514965

8,623(1,461)

Total income taxes

13,479

7,162

Profit (loss)
Profit (loss) attributable to non-controlling interests
Profit (loss) attributable to owners of parent

5(102,566)

6,484

882

(1,274)(103,449)

7,758

Consolidated statements of comprehensive income(Millions of yen)

Profit (loss)
Other comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2016

March 31, 2017

(102,566)

6,484

(38)
67

106
(77)

Foreign currency translation adjustment
Minimum Pension Liability Adjustment(7,268)202(3,232)(332)

Remeasurements of defined benefit plans, net of tax(2,290)3,266Valuation difference on available-for-sale securities
Deferred gains or losses on hedges(9,327)(269)

Comprehensive income

Total other comprehensive income(111,894)

6,214

Comprehensive income attributable toComprehensive income attributable to owners of parent(111,884)

7,978

(9)

(1,764)Comprehensive income attributable to non-controllinginterests

6

Consolidated statements of changes in equity
Fiscal year ended March 31, 2016
(Millions of yen)
Shareholders' equity
Capital stock
Balance at beginning of current
periodCapital surplus

39,970Retained earnings

52,965

Total shareholders'equityTreasury shares

64,364(5,542)

151,759

Changes of items during period
Dividends of surplus
Profit (loss) attributable toowners of parent(1,922)(1,922)(103,449)(103,449)

Purchase of treasury shares
Disposal of treasury shares

(18)

(18)

37

42

5

–

Deficit disposition
Net changes of items otherthan shareholders' equity
Total changes of items during
periodBalance at end of current period–

5(105,371)

18(105,347)

39,97052,970(41,006)(5,523)

46,411

Accumulated other comprehensive income

Balance at beginning of current
periodValuationdifferenceonavailablefor-salesecurities

Deferred
gains orlosses onhedges1,513

3Foreign
Minimum
currency
Pensiontranslation
Liability
adjustment Adjustment

18,014

(568)

Total
Remeasurements

accumulatedof definedotherbenefit planscomprehensive

Subscription
rights toshares

Noncontrollinginterests

Total net
assets31,828203,108

income440

19,404

116

Changes of items during period
Dividends of surplus(1,922)

Profit (loss) attributable toowners of parent(103,449)

Purchase of treasury shares(18)

Disposal of treasury shares

42

Deficit disposition–

Net changes of items otherthan shareholders' equity

(37)

67

(6,274)106(2,297)(8,435)(0)(18,965)(27,401)

Total changes of items during
period(37)

67(6,274)106(2,297)(8,435)(0)(18,965)(132,749)

Balance at end of current period

1,476

71

11,740(461)(1,857)

10,969116

12,86270,359

7

Fiscal year ended March 31, 2017
(Millions of yen)
Shareholders' equity
Capital stock
Balance at beginning of current
periodCapital surplus

39,970Retained earnings

52,970Total shareholders'equityTreasury shares(41,006)(5,523)

46,411

Changes of items during period–

Dividends of surplus
Profit (loss) attributable toowners of parent

7,758

7,758

Purchase of treasury shares
Disposal of treasury shares

(10)

(10)

45

57

11

Deficit disposition–(52,970)

52,970–(52,959)

60,72935

7,805

39,97011

19,722(5,488)54,217

Net changes of items otherthan shareholders' equity
Total changes of items during
periodBalance at end of current period

Accumulated other comprehensive income

Balance at beginning of current
periodValuationdifferenceonavailablefor-salesecurities

Deferred
gains orlosses onhedges1,47671

Foreign
Minimum
currency
Pensiontranslation
Liability
adjustment Adjustment

11,740

(461)

Total
Remeasurements

accumulatedof definedotherbenefit planscomprehensive

Subscription
rights toshares

Noncontrollinginterests

Total net
assets12,86270,359income(1,857)

10,969116

Changes of items during period–

Dividends of surplus
Profit (loss) attributable toowners of parent

7,758

Purchase of treasury shares(10)

Disposal of treasury shares

57

Deficit disposition–

Net changes of items otherthan shareholders' equity

104

(77)

(2,812)

(258)

3,264

220

(11)

(2,325)(2,116)

Total changes of items during
period104(77)(2,812)

(258)

3,264

220

(11)

(2,325)

5,688

Balance at end of current period

1,581

(6)

8,927

(720)

1,407

11,189104

10,53776,0478

Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit (loss) before income taxes

Fiscal year ended

Fiscal year ended

March 31, 2016

March 31, 2017

(89,087)

13,646

Depreciation
Impairment loss

19,49685,023

13,955–

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in net defined benefit liability(1,807)
602

618
410

(439)
962

(345)
639

35

173

Loss (gain) on sales of investment securities
Restructuring cost

(97)
1,440

(2,114)
1,002

Loss (gain) on transfer of business
Decrease (increase) in notes and accounts receivable - trade

325
1,708

–
7,816

Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade(2,348)(15,665)

4,815(4,165)

Other, net

12,335

7,961

Subtotal

12,484

44,413

Interest and dividend income
Interest expenses
Loss (gain) on sales and retirement of property, plant andequipmentInterest and dividend income received

443

338

Interest expenses paid
Income taxes paid

(875)
(7,484)(723)(7,012)

Net cash provided by (used in) operating activities

4,567

37,016(8,724)(6,356)

1,176(5,376)649(2,534)

600
(19)

–
(399)

167
3,362

4
(2)

(13)
15

(29)
13

(1,279)–Proceeds from sales of shares of subsidiaries resulting inchange in scope of consolidation

20

1,747

Other, net

279

32

(9,789)(6,876)

Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Proceeds from transfer of business
Purchase of investment securities
Proceeds from sales of investment securities
Net decrease (increase) in short-term loans receivable
Payments of long-term loans receivableCollection of long-term loans receivable
Purchase of shares of subsidiaries resulting in change in scopeof consolidation

Net cash provided by (used in) investing activities

9

(Millions of yen)

Cash flows from financing activities
Net increase (decrease) in short-term loans payable

Fiscal year ended

Fiscal year ended

March 31, 2016

March 31, 2017
1,028

(2,256)

3
(3)

–
(3)

Payments from changes in ownership interests in subsidiaries
that do not result in change in scope of consolidation(19,120)–

Repayments of finance lease obligations
Purchase of treasury shares(3,046)(18)(2,823)(10)

Cash dividends paid
Dividends paid to non-controlling interests(1,925)
(899)

(4)
(397)

Proceeds from long-term loans payable
Repayments of long-term loans payable

Other, net
Net cash provided by (used in) financing activities

40

57(23,941)(5,439)Effect of exchange rate change on cash and cash equivalents(3,141)(1,231)

Net increase (decrease) in cash and cash equivalents(32,304)

23,468Cash and cash equivalents at beginning of period

54,964

22,660Cash and cash equivalents at end of period

22,66046,12910