Consolidated Financial Results
for the Nine Months Ended December 31, 2023
[Japanese GAAP]
February 7, 2024
Company name: Toshiba Tec Corporation
Stock exchange listing: Tokyo
Code number: 6588
URL: https://www.toshibatec.co.jp/
Representative: Hironobu Nishikori
President and CEO
Contact:
Akira Abe
General Manager of Corporate Communications Division
Phone: 03-6830-9151
Scheduled date of filing quarterly securities report: February 8, 2024
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Nine Months Ended December 31, 2023 (April 1, 2023 to December 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Nine months ended
Million yen%
Million yen%
Million yen%
Million yen%
December 31, 2023
396,7195.9
9,463(19.8)
6,412(35.5)(14,716)
December 31, 2022
374,470
14.0
11,804
36.2
9,937
23.0
(2,005)(10,722)
million[(Note) Comprehensive income:Nine months ended December 31, 2023:¥%](2,357) million [-%]Nine months ended December 31, 2022:¥
Basic earnings
per share

Diluted earnings
per share

Nine months ended
Yen
Yen
December 31, 2023
(269.95)
December 31, 2022
(36.23)(Note) Diluted earnings per share is not presented even though the Company has issued potential shares, because basic earnings per
share was net loss.
(2) Consolidated Financial Position
Total assets
As ofDecember 31, 2023
March 31, 2023
(Reference) Equity:

Net assets

Capital adequacy ratio

Million yen

Million yen

300,638
310,692

80,402102,206
73,342 million
96,195 million

As of December 31, 2023:
As of March 31, 2023:

¥
¥

%

24.4
31.0

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2023

-

20.00

-

20.00

40.00

Fiscal year ending March 31, 2024

-

20.00

25.00

45.00

Year-end

Fiscal year ending March 31, 2024 (Forecast)(Note) Revision to the forecast for dividends announced most recently:

Total

No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share
Full year

Million yen%

Million yen%

Million yen%

Million yen%

Yen

545,000

6.7

18,00011.9

15,000

14.1

0

–

0.00

(Note) Revision to the financial results forecast announced most recently:

Yes* Notes:(1) Changes in significant subsidiaries during the nine months ended December 31, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):
No
New(Company name:
Exclusion:(Company name:))(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:
Yes(Note) For details, please refer to “2. Quarterly Consolidated Financial Statements and Notes (3) Notes to the quarterly consolidated
financial statements (Accounting policies adopted specially for the preparation of quarterly consolidated financial statements)” on
page 8 of this report.
(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2023:
57,629,140 shares
March 31, 2023:
57,629,140 shares2) Total number of treasury shares at the end of the period:
December 31, 2023:
4,699,489 shares
March 31, 2023:
2,281,668 shares
3) Average number of shares during the period:
Nine months ended December 31, 2023:
Nine months ended December 31, 2022:

54,513,589 shares
55,339,982 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters(Explanation for the proper use of earnings forecasts)
Financial results forecasts are based on information currently available to the Company and certain assumptions deemed reasonable
and are not intended to be the Company’s guarantee that they will be achieved. Actual results may significantly vary due to a variety
of factors. For the assumptions used as the basis for the earnings forecasts and precautions regarding the use of the earnings forecasts,
please refer to “1. Qualitative information on the financial results for the period under review (3) Consolidated financial results
forecast and other forward-looking information” on page 3 of this report.

Table of Contents of Attachments
1. Qualitative information on the financial results for the period under review

2(1) Operating results

2(2) Financial condition

3(3) Consolidated financial results forecast and other forward-looking information

3

2. Quarterly Consolidated Financial Statements and Notes

4(1) Quarterly Consolidated Balance Sheet

4(2) Quarterly Consolidated Statement of Income and Comprehensive Income

6

Quarterly Consolidated Statement of Income (For the nine months)

6

Quarterly Consolidated Statement of Comprehensive Income (For the nine months)7(3) Notes to the quarterly consolidated financial statements

8

Notes on going concern assumption

8

Notes in the event of significant amount changes in shareholders’ equity

8

Accounting policies adopted specially for the preparation of quarterly consolidated financial statements

8Additional information

8

Segment information, etc.

9Significant subsequent events

10

1

1. Qualitative information on the financial results for the period under review(1) Operating results
The world economy during the nine months ended December 31, 2023 picked up moderately overall, as thenormalization of economic activities progressed after the COVID-19 pandemic receded. However, the outlook
still remained uncertain due mainly to price rises, ongoing monetary tightening overseas, China’s economic
slowdown, and the heightened geopolitical risks.
Amid such conditions, Toshiba Tec Corporation (the “Company”) and its subsidiaries (collectively, the“Group”) have been pursuing the Basic Policy of the FY23-25 Mid-term Business Plan, “To become a global
top solutions partner by generating new value through co-creation with the aim of contributing to theresolution of social issues.” Under the basic policy, the Group has focused its energy on carrying out various
measures toward sustainable growth. At the same time, the Group has strived to contribute to the resolution ofsocial issues by executing business transformation and corporate transformation.
In the nine months ended December 31, 2023, net sales were ¥396,719 million (up 6% year on year) due
mainly to increased sales of POS systems for the domestic market and multifunction peripherals (MFPs), andthe impact of foreign exchange rates. On the profit front, despite the profitability of MFPs improved
significantly and the improvement in profit and loss of POS systems for the domestic market, while the profit
and loss of POS systems for the overseas markets deteriorated significantly, resulting in operating profit of
9,463 million yen (down 20% year on year) and ordinary profit of 6,412 million yen (down 36% year on year).
And on the loss attributable to owners of parent front, the reversal of deferred tax assets at some overseas
subsidiaries under the Retail Solutions Business Group and other factors, resulting in ¥14,716 million(compared with loss attributable to owners of parent of ¥2,005 million in the same period of the previous
fiscal year).
Results of reportable segments for the nine months ended December 31, 2023 were as follows.
Retail Solutions Business GroupThe Retail Solutions Business Group handles POS systems for domestic and overseas markets, auto ID
systems for domestic market, and related products. Amid a severe business environment in which
intensifying competition with peers continues, the business group has worked on expanding its solution
business through the global retail platform “ELERA” and strategic partnership, boosting recurring revenue
business, and investing in retail innovation to expand new businesses (strengthening digital humanresources, ELERA Evolution, enhancing co-creation opportunities, and strengthening partner
collaboration).
Sales of POS systems for the domestic market increased due to efforts to expand sales mainly of selfcheckout systems, payment terminals, and smart receipts, as well as efforts to revise selling prices, despite
continued harsh conditions reflecting soaring raw material prices, rising prices, and other factors.
The extent of the decline in sales of POS systems for overseas markets expanded, due mainly to a decreasein sales of hardware and software in the United States, primarily to major customers, and a decrease in salesof hardware in Europe, and other factors, amid a decline in demand caused by a delay in the timing ofinvestment by customers due to an increase in uncertainty about overseas market conditions.
Sales of auto ID systems for the domestic market increased, primarily due to an increase in the number ofunits sold of barcode printers thanks to strong sales of mobile printers and entry models.
As a result, net sales of the Retail Solutions Business Group were ¥223,960 million (up 3% year on year).
The business group recorded operating loss of ¥388 million (operating profit of ¥6,151 million in the same
period of the previous fiscal year), reflecting the deterioration in profit and loss in overseas markets due to adecrease in sales of POS systems and an increase in research expenses, etc. for future growth, despite an
improvement in profit and loss from POS systems for the domestic market.
Workplace Solutions Business Group
The Workplace Solutions Business Group handles multifunction peripherals (MFPs) for domestic andoverseas markets, auto ID systems for overseas markets, inkjet heads for domestic and overseas markets,and related products. Amid a severe business environment in which the declining printing volume due to2

post-COVID-19 work style reforms and office DX promotion and intensifying competition with peers
continue, the business group focused on increasing basic earnings power of core business. At the same time,
the business group worked on developing the auto ID business, document and data solutions, and customer
support business in order to expand business in growth areas.
Sales of MFPs increased due to the impact of foreign exchange rates in addition to strong sales in theAmericas, Europe, and other regions, reflecting a recovery from product supply disruptions and increased
selling prices.
Sales of auto ID systems for overseas markets declined as a result of decreased sales in the Americas,
Europe, Asia, and other overseas regions.
Sales of inkjet heads decreased due mainly to decreased sales to overseas customers.
As a result, net sales in the Workplace Solutions Business Group were ¥176,104 million (up 11% year onyear). Operating profit for the business group soared to ¥9,852 million (up 74% year on year) due to theincrease in net sales resulting from recovery from product supply disruptions, the increased selling prices
and other factors and effects of structural reform and structural transformation implemented so far, etc.
(Note) An auto ID system is a system that uses hardware and software devices to recognize and manage data
content by automatically scanning barcode and RFID tag data.
(2) Financial condition
Assets at the end of the third quarter of the fiscal year ending March 31, 2024 decreased by ¥10,054 million
from the end of the previous fiscal year to ¥300,638 million. This was mainly because cash and deposits, notes
and accounts receivable - trade, and contract assets, and work in process in current assets and “Other” ininvestments and other assets declined by 2,760 million, ¥3,938 million, ¥1,030 million, and ¥12,099 million,
respectively, although merchandise and finished goods, raw materials and supplies, and “Other” in current
assets increased by ¥5,565 million, ¥1,895 million and ¥2,500 million, respectively.
Liabilities increased by ¥11,749 million from the end of the previous fiscal year to ¥220,235 million. Thiswas mainly because notes and accounts payable - trade and current portion of long-term borrowings in current
liabilities and long-term borrowings in non-current liabilities increased by ¥7,644 million, ¥2,900 million, and¥7,064 million, respectively, although “Other” in current liabilities declined by ¥5,420 million.
Net assets decreased by ¥21,803million from the end of the previous fiscal year to ¥80,402 million. This wasprimarily due to a decrease in retained earnings owing to the recording of loss attributable to owners of parentof ¥14,716 million, the payment of dividends of ¥2,165 million, and a decrease due to additional purchase oftreasury shares of ¥8,686 million, although foreign currency translation adjustment, and non-controllinginterests increased by ¥3,179 million and ¥1,073 million, respectively.

(3) Consolidated financial results forecast and other forward-looking information
Based on the consolidated operating results for the nine months ended December 31, 2023, theCompany has revised its consolidated financial results forecast for the full fiscal year.
For details, please refer to the “Notice of revision to the consolidated financial results forecast for
the fiscal year ended March 31, 2024” separately announced today (February 7, 2024).

3

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet(Million yen)
As of March 31, 2023

As of December 31, 2023

AssetsCurrent assets
Cash and deposits
Group deposits paid
Notes and accounts receivable - trade, and contract
assetsMerchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

42,68739,927

1,137

1,203

74,29370,35537,616
5,967

43,181

11,884

4,937
13,77928,17330,673(1,185)(1,309)200,575

202,749

45,17345,379Intangible assets
557

404

10,52810,35011,086

10,754

Other
Allowance for doubtful accounts

54,26642,167

(408)

(412)

Total investments and other assets

53,85741,754

Goodwill
Other
Total intangible assets
Investments and other assets

Total non-current assets
Total assets

4

110,11797,888

310,692

300,638(Million yen)
As of March 31, 2023

As of December 31, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade54,167

61,811

Short-term borrowings

1,779

2,233

–

2,900

Current portion of long-term borrowings
Income taxes payable

5,177

5,503

Other

89,42184,001

Total current liabilities

150,546

156,449

Non-current liabilities
Long-term borrowings

2,581

9,645

28,72228,554

26,63625,586Retirement benefit liability
Other57,94063,785

208,486

220,235

Shareholders’ equity
Share capital

39,97039,970Capital surplus

902

950

Retained earnings

40,017

23,136

Treasury shares(4,695)(13,381)

Total shareholders’ equity

76,19550,676

1,525

1,270

(40)

(43)

18,131

21,310(175)

Total non-current liabilities
Total liabilities
Net assets

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Minimum pension liability adjustments(212)

Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

5

595

303

19,99922,666

43

19

5,966

7,040

102,206

80,402

310,692

300,638(2) Quarterly Consolidated Statement of Income and Comprehensive Income
Quarterly Consolidated Statement of Income (For the nine months)(Million yen)
For the nine months ended
December 31, 2022

For the nine months ended
December 31, 2023

Net sales

374,470

396,719

Cost of sales

227,292

235,697

Gross profit

147,177

161,021

Selling, general and administrative expenses

135,373

151,558

Operating profit

11,804

9,463

216

363

Dividend income

75

79

Gain on valuation of derivatives

466

-

355

256

1,114

699

Non-operating income
Interest income

Other
Total non-operating income
Non-operating expenses
Interest expenses

419

425

Foreign exchange losses

1,220

1,690

Other

1,341

1,634

Total non-operating expenses

2,981

3,750

9,937

6,412

Gain on sale of investment securities-

63

Total extraordinary income

-

63

-

9

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on sale of investment securities
Loss on valuation of investment securities

608

80

Restructuring cost
Loss on reversal of foreign currency translation
adjustment due to liquidation of overseas subsidiaries
Loss on litigation

182

423

392

-

6,900

-

Total extraordinary losses

8,084

513

1,852

5,962

Profit before income taxes
Income taxes

4,595

19,490Loss(2,742)(13,528)

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

6

(737)

1,187

(2,005)(14,716)

Quarterly Consolidated Statement of Comprehensive Income (For the nine months)(Million yen)
For the nine months ended
December 31, 2022

For the nine months ended
December 31, 2023

(2,742)(13,528)

Valuation difference on available-for-sale securities

(39)

(254)

Deferred gains or losses on hedges

(49)

(3)

1,111

3,319

Loss
Other comprehensive income

Foreign currency translation adjustment
Minimum pension liability adjustment

(21)

37

Remeasurements of defined benefit plans, net of tax

(615)

(291)

Total other comprehensive income

384

2,806

Comprehensive income(2,357)(10,722)

Comprehensive income attributable to
Owners of parent(1,958)(12,049)

(399)

1,327

Non-controlling interests7(3) Notes to the quarterly consolidated financial statements
Notes on going concern assumption
Not applicable
Notes in the event of significant amount changes in shareholders’ equity
Purchase of treasury shares
Pursuant to a resolution at the board of directors’ meeting held on August 7, 2023, the Company purchased
2,444,293 treasury shares for ¥8,738 million during the nine months ended December 31, 2023.
Accounting policies adopted specially for the preparation of quarterly consolidated financial statements
Calculation of tax expenses
Tax expenses are calculated by reasonably estimating the effective tax rate after the application of tax effectaccounting for profit before income taxes for the consolidated fiscal year ending March 31, 2024 including thethird quarter under review and multiplying profit before income taxes by the estimated effective tax rate.
Provided, however, that if calculation using the estimated effective tax rate turns out to be significantly
unreasonable, calculations are made pursuant to Paragraph 15 (Method of using the statutory effective tax rate)of the Implementation Guidance on Tax Effect Accounting for Interim Financial Statements (AccountingStandards Board of Japan (ASBJ) Guidance No. 29, February 16, 2018), according to the provisions ofParagraph 19 of the Implementation Guidance on Accounting Standard for Quarterly Financial Reporting(ASBJ Guidance No. 14, March 31, 2020).
Income taxes - deferred are included in income taxes.
Additional information
At the end of the third quarter of the fiscal year ending March 31, 2024, as a result of careful assessment of
the recoverability of deferred tax assets due to the deterioration in financial results amid a decline in demandcaused by a delay in the timing of investment by customers due to an increase in uncertainty about market
conditions at some U.S. subsidiaries under the Retail Solutions Business Group, a portion of deferred tax
assets of ¥15,204 million was reversed and the same amount was recorded as Income taxes - deferred.
Income taxes-deferred are included in income taxes.

8Segment information, etc.
I Nine months ended December 31, 2022
Amounts of net sales, profit or loss by reportable segment(Million yen)
Reportable segments
Retail Solutions

Workplace
Solutions

Adjustment
Total

Consolidated
amount(Note)Net sales
Sales to external customers
Intersegment sales and transfers
Total

218,388

156,081374,470

－

24

2,696

2,721

(2,721)

374,470－

218,413

158,778

377,192(2,721)

374,470－

11,804

Segment profit
6,151
5,652
11,804(Note) Segment profit corresponds with operating profit in the quarterly consolidated statement of income.

II Nine months ended December 31, 2023
Amounts of net sales, profit or loss by reportable segment(Million yen)
Reportable segments
Retail Solutions

Workplace
Solutions

Adjustment
Total

Consolidated
amount(Note)Net sales
Sales to external customers
Intersegment sales and transfers
Total

223,854

172,864

396,719

－

105

3,239

3,344

(3,344)

396,719－

223,960

176,104

400,064(3,344)

396,719－
Segment profit (loss)
(388)
9,852
9,463
(Note) Segment profit (loss) corresponds with operating profit in the quarterly consolidated statement of income.

9,463*Supplementary information
Average exchange rate
(Yen to the US dollar)
Average exchange rate
(Yen to the euro)

Nine months ended December 31, 2022

Nine months ended December 31, 2023

135.72142.87140.30154.999Significant subsequent events
Conclusion of an Absorption-type Company Split agreement with a joint venture
On May 19, 2023, the Company and Ricoh Company, Ltd. (hereinafter “Ricoh”) resolved at the Board of
Directors of both companies to conclude an agreement to set the terms and conditions for integrating businesses(hereinafter the “Integration Agreement”) regarding the development and manufacturing of MFPs, etc. bynecessary procedures such as company split to be separately agreed upon by the two companies (hereinafter the“Business Integration”). The Board of Directors of both companies also resolved to conclude a shareholders
agreement related to the Business Integration (hereinafter the “Shareholders Agreement”). On the same day, thetwo companies concluded these agreements.
Then, in order to implement the Business Integration, on February 6, 2024, the Board of Directors of theCompany resolved to conclude the absorption-type split agreement (hereinafter, the "Toshiba Tec Absorptiontype Split Agreement") between the Company and Ricoh Technologies Company, Ltd. (hereinafter, the "Joint
Venture") On the same day, the Company concluded the Toshiba Tec Absorption-type Split Agreement.
The absorption-type split of Ricoh to implement the Business Integration is hereinafter referred to as the“Ricoh Absorption-type Split,” and the absorption-type split agreement between Ricoh and the Joint Venture ishereinafter referred to as the “Ricoh Absorption-type Split Agreement.” Furthermore, the Ricoh Absorption-type
Split and the Toshiba Tec Absorption-type Split are hereinafter collectively referred to as the "Absorption-type
Split," and the Ricoh Absorption-type Split Agreement and the Toshiba Tec Absorption-type Split Agreement
are hereinafter collectively referred to as the "Absorption-type Split Agreement.”
1. Summary of the Business Integration(1) Method of the Business Integration
The Business Integration covers MFPs’ development and the manufacturing operations of the twocompanies in Japan and overseas. This coverage is hereinafter collectively referred to as the "Business.” TheBusiness is, furthermore, hereinafter specified as “Ricoh’s Business” and “Toshiba Tec’s Business.” TheBusiness Integration will be implemented mainly by an absorption-type split in order to succeed Ricoh’s
Business and Toshiba Tec’s Business to the “Joint Venture”, a subsidiary company of Ricoh in Japan.
The investment ratio in the Joint Venture after the Business Integration shall be 85% by Ricoh and 15% by
the Company.
(2) Details of the allotment related to the Absorption-type Split
The Joint Venture will allot and deliver 55 common shares newly issued by the Joint Venture to Ricoh as
consideration for the Joint Venture’s assumption of rights and obligations upon the Ricoh Absorption-type
Split becoming effective and 45 common shares newly issued by the Joint Venture to the Company asconsideration for the Joint Venture’s assumption of rights and obligations upon the Toshiba Tec Absorptiontype Split becoming effective.
(3) Schedule of the Business Integration
Both companies’ Board of Directors to approvethe conclusion of the Integration Agreement andthe Shareholders Agreement

May 19, 2023

Conclusion of the Integration Agreement and theShareholders Agreement

May 19, 2023

Both companies’ Board of Directors to approvethe conclusion of the Absorption-type Split
Agreement

Feb 6, 2024

Conclusion of the Absorption-type Split
Agreement

Feb 6, 2024

Effective date of the Absorption-type Split

July 1, 2024

(Note 1) Both the Ricoh Absorption-type Split and the Toshiba Tec Absorption-type Split will be conducted asa simplified absorption-type split under Article 784, Paragraph 2 of the Companies Act, withoutobtaining approval at the shareholders' meetings of both companies.
(Note 2) The implementation of the Business Integration is subject to the conditions that, among others, allprocedures under the competition laws (including procedures such as notifications and obtaining
clearances, etc.) and notifications and other procedures under foreign investment regulations in Japanand other countries or regions have been completed, and no event has occurred or been found that has
or may have a material adverse effect on the assets, business, financial condition, operating results or

10cash flow status or other value of the Business of both companies.
(Note 3) The above schedule is the schedule as of today and is subject to change upon consultation between thetwo companies in the course of the procedures for the Business Integration, depending on the obtainmentof permits and approvals from the relevant authorities or for other reasons.
(4) Relationships between two companies
CapitalNone in particular

Personnel

None in particularBusiness

The Company has contracted Ricoh to manufacture MFPs’ options.

Status as a related party

None in particular(5) Outline of the successor company in absorption-type split (the Joint Venture) (as of March 31, 2022*)(1) Trade name

Ricoh Technologies Company, Ltd.

(2) Address

2-7-1, Izumi, Ebina Kanagawa, Japan(3) Representative name

Mikio Ishibashi, President and CEO(4) Principal business

Development, design, and sales of office equipment, optical equipment,
printing-related peripheral equipment, and those consumables, etc.

(5) Capital stock

10 million yen(6) Date established

December 19, 2012

(7) Total Shares Issued

200(8) Accounting Date

March 31

(9) Number of Employees494(10) Major Customers

Ricoh Company, Ltd.

(11) Main Bank

None(12) Major Shareholders and Percentage ofShares Held

Ricoh Company, Ltd.

100%(13) Relationships with two companies
Capital

100% invested by Ricoh Company, Ltd.

Personnel

3 Directors (out of 3) and 2 auditors (out of 2) from Ricoh Company,
Ltd.
Consignment of design and businesses from Ricoh Company, Ltd.
Original Equipment Manufacturing to the Company

Business
Status as a related party

Related parties of Ricoh Company, Ltd

2. Outline of the splitting businesses
Nature of business of the division to be split
Ricoh
Development, manufacturing and OriginalEquipment Manufacturing of MFPs, Printers,
and those related peripheral equipment andconsumables

The Company
Development, manufacturing of MFPs, Auto ID system, and thoserelated products

3. Reportable segments in which the divested business was included
Workplace Solutions Business Group

11

4.

Status after the Absorption-type Split.
(1) Trade nameETRIA CO., LTD.

(2) Address

Yokohama Kanagawa, Japan(3) Representative name(5) Capital stock

Katsunori Nakata, President and CEO
Development, production and sales of office equipment, industrial
equipment and optical equipment, and peripheral equipment andconsumables, etc.
500 million yen(6) Accounting Date

March 31

(4) Principal business

5.

Future outlook
The impact of the Absorption-type Split and the Business Partnership on the consolidated business resultsof both companies for the fiscal year ending March 2024 is insignificant.

12