August 4, 2020
Company Name: TOPY INDUSTRIES, LIMITED
Representative: Nobuhiko Takamatsu, Representative Director,President and CEO(Code: 7231 Tokyo and Nagoya Stock Exchange; first section)
Contact: Shuichi Tachibana, Operating Officer andGeneral Manager, General Affairs Department(TEL: 03-3493-0777)

Announcement Regarding the Adjustment of Financial Forecast and Dividends Forecast forFiscal Year Ending March 31, 2021
Topy Industries Limited hereby gives notice regarding the financial forecast and dividend forecast per share for
Fiscal 2020 which was withheld in the “Consolidated Basis Results of the Fiscal 2019” announced on May 26,2020.
1. Adjustment of Consolidated Financial Forecast(1) Estimated value of consolidated financial forecast for second quarter (cumulative) for fiscal year 2020 (April
1, 2020 - September 30, 2020)

Previous Forecast (A)(Announced May 26, 2020)
Revised Forecast(B)

Net Sales

Operating
IncomeMillion Yen

Million Yen―
105,000―

Net income forsecond quarter Net Income for
Ordinary
attributable to second quarter
shareholdersofIncome
per Share
the parentcompany
Million Yen
Million YenYen―(5,000)―(5,000)―(5,000)(212.82)

Difference (B-A)

―――

―

―

Percentage ofIncrease/Decrease (%)(Ref.) Pervious Results(the second quarter of FY ending March 2020)

―――

―

―

137,196

2,325-1-

1,552858

36.52

(2) Estimated values of the consolidated financial forecast for fiscal 2020 (April 1, 2020 – March 31, 2021)

Previous Forecast (A)(Announced May 26, 2020)
Revised Forecast(B)

Net Sales

Operating
IncomeMillion Yen

Million Yen―
225,000―

Net income
attributable
to Net Income forOrdinary
shareholders ofIncomeper Sharethe parentcompany
Million Yen
Million Yen
Yen―(4,000)―(2,500)(4,000)―(170.26)

Difference (B-A)

―

―

―

―

―

Percentage ofIncrease/Decrease (%)(Ref.) Pervious Results(FY ending March 2020)

―

―

―

―

―

263,305

2,851

3,597

(4,497)(191.42)(3) Estimated values of the financial forecast for fiscal 2020 (April 1, 2020 – March 31, 2021)

Net Sales
Million Yen
Previous Forecast (A)(Announced May 26, 2020)
Revised Forecast(B)―125,000

Operating
IncomeMillion Yen―(3,000)

Ordinary
IncomeMillion Yen―

Net Income forper Share
Million Yen
Yen

Net income―(1,000)(1,500)―(63.84)

Difference (B-A)

―

―

―

―

―

Percentage ofIncrease/Decrease (%)(Ref.) Pervious Results(FY ending March 2020)

―

―

―

―

―

140,646(1,241)369(5,580)(237.50)(4) Reason for the DifferenceWith regards to the financial forecast for fiscal 2020, estimates had been withheld since rational estimation wasdifficult due to the COVID-19 pandemic. The values announced today are based on information currentlyavailable. The financial results for the second quarter is expected to fall heavily below that of last year due tocontinued sales decline of automotive/industrial machinery components and weak sales in the steel business dueto the COVID-19 pandemic. Financial forecast for the fiscal year has been estimated under the assumption thatsales of automotive/industrial machinery components and steel businesses will gradually recover from the thirdquarter.

-2-2. Amendment of Dividend Forecast(1) Amended contents
Dividends per share(Yen)Previous Forecast(Announced May 26, 2020)
Revised Forecast

End of secondquarter

Year end

Total

Pending

Pending

Pending

Pending

Pending

0.00

Current Year Results
Pervious Results(FY ending March 2020)

40.00

0.00

40.00

(2) Reason for Amendment
As described in the financial forecast, loss is expected in consolidated financial forecast for second quarter(cumulative); therefore, there will unfortunately be no dividend at the end of the second quarter. Year end dividend
is still pending and will be announced once decisions are made.
* All above forecasts and estimates have been complied based on information available at the time of thisdisclosure. Actual results may differ from the forecasted values due to future factors.

Note: This document has been translated from the original Japanese version for reference purposes only. In the event ofany discrepancy between this translated document and the original Japanese version, the original shall prevail.
The original disclosure in Japanese was released on August 4, 2020 at 13:30 (GMT+9).
The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arisingfrom the translation.

-3-