Tokyo Seimitsu Co., Ltd.
Earnings Conference
for FY2024/3 1Q
August 2nd, 2023

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

 Earnings Conference for FY2024/3 1Q (via Web) Tokyo Seimitsu’s Speakers:
KAWAMURA Koichi, Executive Vice President and CFO
TAKASHIMA Naoki, IR Team Leader, Management Support Dept.
* This transcript is an English translation and summary of information provided
verbally in Japanese.

1 Cautionary Statement with respect to Forward-Looking Statements

 This presentation data and information verbally provided contain “forward-looking statements” that are basedon current best available information and policies.
 There are various factors such as world economic conditions and semiconductor/automobile market conditions
which will directly and indirectly impact the Company’s results in the future.
 As a result, future outcomes may differ from those projected in this presentation.

 Wordings and Data in presentation

 Unless otherwise noted, “SPE” denotes our Semiconductor Production Equipment Business Segment,“Metrology (or Metr.)” denotes our Metrology Business Segment, “Net profit” denotes Net profit attributableto owner of the parent, and “MTP” denotes “Mid-term Business Plan.
 Information listed in this presentation is summarized in Billions of Yen (BJPY or B) or percentage except asotherwise noted. As a result, there may be a case where the total of individual amount and total amounts ineach matter may differ.
 Effective from FY2023/3, income and expenses of foreign subsidiaries are converted to Japanese Yen using theaverage rate during the period, instead of the previous end-of-period rate. Accordingly, the figures for FY2022/3
stated in Supplementary statement are retroactively applied average rate for the period.

 Audit procedure This presentation is not subject to audit procedures.

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

2

FY2024/3 1Q Business Results
FY2023/3

FY2024/3

Quarterly Results(BJPY)

1Q

2Q

3Q

4Q

Orders

46.2

34.0

30.1

26.0

Sales

27.9

43.2

32.0

43.7

1Q

QoQ

YoY

29.5

+14%

-36%

26.6

-39%-5%

(20%)

(23%)

(23%)

(26%)

(16%)

4.3

-63%

-25%

Recurring profit

6.5

10.1

7.1

11.6

4.7

-60%

-28%

Net profit

4.8

7.1

3.3

8.4

3.2

-61%

-33%

Operating profit(Margin)

5.7

10.0

7.4

11.4

 While both Sales and profits down mainly in SPE,
mostly in line with expectations
 Orders continued to decline YoY, but increased QoQ

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

3 Hello everyone, I am Kawamura, Executive Vice President and CFO of Tokyo
Seimitsu. I would like to express my gratitude for your continued support.
 I would now begin to explain our business performance for FY2024/3 1Q.
Orders were ¥29.5B, Sales were ¥26.6B, Operating profit was ¥4.3B, Recurring
Profit was ¥4.7B, and Net income attributable to owners of the Parent was¥3.2B. Operating profit margin was 16%.
 Although both sales and profit decreased, they were almost in line with thecompany's internal plan.
 Orders continued to decline YoY, but slightly exceeded the plan and increased
QoQ.
 Next, I will explain the results per each business segment.

SPE Segment
FY2023/3

FY2024/3

Quarterly Results(BJPY)

1Q

2Q

3Q

4Q

Orders

35.9

25.2

20.7

17.5

Sales

21.1

34.3

24.1

32.9

Operating profit(Margin)

5.0(24%)8.9(26%)6.4(27%)9.5(29%)

1Q

QoQ

YoY

20.3

+16%

-43%

18.7

-43%

-11%

3.2

-66%

-37%

(17%)

 Sales were in-line with expectations despite sluggish
Consumer electronics market in general Orders increased QoQ

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

 Next, I will explain results of the SPE segment.
 In the 1st quarter (hereinafter referred to as 1Q), Orders were ¥20.3B, Sales
were ¥18.7B, Operating profit was ¥3.2B, and OP Margin was 17%.
 Demand related to consumer electronics continued to be soft in 1Q, but sales
were generally in line with expectations.
 While orders continued to decline YoY ; but increased QoQ.

4

SPE – Quarterly Trend
Orders and Backlog

Sales and OP

 Sales: In line with expectations, Production maintained high level Orders: Exceeded forecast thanks to demands toward power semis, analog semis,
wafer fabrication despite slow recovery in consumer applications
Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

 Here are the quarterly graph of SPE.
 Left side (Sales): Although sales decreased, it is almost within ourexpectation. This is because we originally forecasted that 2Q sales to increase
based on the delivery dates of equipment. Therefore, production remained ata high level in 1Q.
 Right side (Orders): Orders for power semis, analog semis, and wafer
fabrication continued to be strong. As a result, orders were higher thanestimate (¥15.0B around).
 However, orders for consumer electronics such as smartphones, and inquiries
from OSATs were stagnant.
 At this point, the Company anticipates 2Q orders to be almost flat comparedto 1Q, but we will closely watch trends as the situation may change.

5Metrology Segment
FY2023/3

FY2024/3

Quarterly Results(BJPY)

1QOrders

10.2

8.8

9.5

8.5

Sales

6.8

8.9

8.0

10.8

Operating profit(Margin)

0.6(10%)2Q

1.1(13%)3Q

1.0(13%)4Q

1.8(17%)

1Q

QoQ

YoY

9.2

+9%-10%

7.9-27%+16%

1.0-43%+62%(13%)

 Both Sales and profit increased YoY due to progress inbacklog shipments
 1Q Orders were increased QoQ but decreased YoY

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

 This page explains Metrology Segment Results.
 In 1Q, Orders were ¥9.2B, Sales were ¥7.9B, Operating profit was ¥1.0B, andOP Margin came to 13%.
 Shipments of orders received proceeded as planned, therefore, sales andoperating profit increases YoY.
 1Q Orders decreased YoY including a reactionary decline from the rush
demand of the previous year's price revision, but increased QoQ.

6

Metrology – Quarterly Trend
Orders and Backlog

Sales and OP

 Sales: In line with expectations, exceeded past two fiscal years’ 1Q level Orders: EV-related business inquiry increased; however, 1Q order was below
estimates because of weak demand in Machinery and SPE areas
Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

 Here are the quarterly graph of Metrology.
 Left side (Sales): The overall level is in line with expectations. Although the 1Q
performance is relatively low in a Fiscal Year due to its seasonality, it has
exceeded the 1Q level of the past two years, and we believe that the recovery
trend is continuing.
 Right side(Orders) : Inquiries related to EV, such as demand for battery test
systems increased YoY, but some areas, such as Machinery and SPE areas
were weak, resulting in a lower-than-expected level booking amount (estimate: approx. ¥10.0B). In addition, reactionary decline from previous 1Q (rushdemand before the price revision) has confirmed.
 Of note, we expect 2Q order to increase about 10% QoQ.

7

Balance Sheet
Assets (BJPY)

190.3
Cash

49.0

43.4

Accounts +5.0
Receivable
Inventories +13.2
Others 6.1 +0.9
Fixed
Assets +8.6

56.5

Mar/E 2022

201.8-11.6

28.4
38.6

-4.8

190.3

53.5
7.0

65.1

3.0

-4.0

19.5

28.6

-2.4

26.2

12.1

-0.1

12.0

146.0
131.1 +14.9

-1.9

144.1

29.9

Others 25.8

-7.5+2.8+8.5

NetAssets

69.2(EquityRatio
68.1%)(69.0%)(70.6%)

Jun/E 2023

Mar/E 2022

Mar/E 2023

Jun/E 2023

+4.2

Mar/E 2023

62.6

201.8
-2.9

Fixed Liab.

+9.1

209.0
22.4

Accounts
Payable

3.6

38.4

40.3

209.0
40.1

-8.9

Liabilities / Net Assets (BJPY)

 Assets: Increase in inventory (full factory operation for future shipments)
 Liabilities and Net Assets: Decrease in accounts payable (site shortening)
Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

 This page is an explanation of the balance sheet.
 Total assets at the end of June 2023 were ¥201.8B.
 On the assets section on the left, inventory increased compared to March2023 due to the factory being in full operation preparing for future shipments.
In addition, fixed assets related to the Hanno Plant in Hanno City, Saitama
Prefecture increased.
 On the right side, current liabilities decreased due to the continued shorteningof the accounts payable site, since latter half of previous fiscal year, and net
assets decreased mainly because of dividend payments.
 The equity ratio at June 2023 end was 70.6%.

8

R&D, Capex and Depreciation
 R&D︓Reinforce development of leading edge technologies and customer needs
 Capex︓ Construction of Hanno & Nagoya plant, and Enhancement Apps. Center Depreciation︓ Slightly increasing trend No change in FY2024/3 R&D and other plans
Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

 Here are the 1Q results of R&D and capital investment, and the full-year plan.
 There is no change in FY2024/3 plan.
 In terms of Capex, expenditure for Hanno Plant were recorded in 1Q. Goingforward, investment for the new plant in Nagoya, which is underconsideration, will be recorded.

9

Premises of FY2024/3 Forecasts(Blue: Changed by August)Overall• Maintain high level of production for future shipments• Material shortage to be eased for some exceptions• Watch for semiconductor export-related regulations

SPE• Consumer electronics related demand to stagnate throughout FY• Looking to the next up-term, work on capacity expansion, R&D,
and application enhancements

Metrology• Domestic demand is generally stable• Auto-related business is expected to expand at NEV area
• Expand sales in non-automotive and strengthen solutions for automation
Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

10 Premises of FY2024/3 Forecasts can be summarized as here. August updates
are in Blue.
 Regarding the outlook for SPE orders in the middle section, we believe that theinventory adjustment of consumer products is more prolonged than weassumed at the beginning of fiscal year. At the beginning of current fiscal year,
we assumed that the inventory adjustment would be settled and that orders
would gradually recover from the 2H, but we have changed our forecast tothat the stagnation will continue throughout the fiscal year.
 On the other hand, we expect that inquiries from industries where demand is
still strong, such as power semis and wafer fabrications will continue, and thatR&D projects such as hybrid bonding will be active in 2H and beyond.
 To respond to these demands, we aim to promote a high level of production.

FY2024/3 Forecast
FY2023/3

FY2024/3

Full Year Results
And Forecast(BJPY)

1H

2H

FYSales

71.1

75.7

146.8

18.8

34.5

2H(f)

61.0
11.0

68.0
13.0

FY(f)

YoY

129.0

-12%

(OP Margin)

(22%)

(25%)

(24%)

(18%)

(19%)

(19%)

24.0

-30%

Recurring Profit

16.6

18.7

35.3

11.0

13.0

24.0

-32%

Net Profit

11.9

11.7

23.6

8.0

9.0

17.0

-28%

170Yen-65YenOperating Profit

15.7

1H(f)

235YenDividend per SharePer Segment(SPE)(Metr.

Orders

61.2

38.2

99.4

Sales

55.4

57.0

112.4

Orders

19.0

17.9

37.0

Sales

15.7

18.8

34.4

44.0

50.0

94.0

-16%

17.0

18.0

35.0

+2%

 No change in business and dividend forecast previously announced on May 12 th
 Assumed exchange rate remains unchanged (¥130 per US dollar, Impact of yen
appreciation of ¥1 per US dollar: ¥-120M)
Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

11 Based on considerations explained in previous page, we decided to remain theforecast for FY2024/3 announced May 2023 unchanged.
 In 2Q , both sales and profits to increase QoQ, and both sales and profits in
2H to increase compared to 1H.
 We also keep assumed exchange rate (¥130 per US dollar).
 That is all for my explanation. Thank you very much.

Investor Information:

https://ir.accretech.jp/en/index.html

Integrated Report

Sustainability Information:

https://ir.accretech.jp/en/integrated_report.html

https://www.accretech.jp/english/sustainability/index.html

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

12

補⾜資料
Supplementary Data

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

13セグメント別業績推移 Segment Information（百万円）
Million Yen

会計期間 Fiscal Year

四半期 Quarter
2023年3月期 FY2023/3

2024年3月期 FY2024/3

Orders
受注高
Backlog
受注残高
Sales
売上高
OP
営業利 益
OP Margin
営業利益率

2020年
3月期
FY2020/3

2021年
3月期
FY2021/3

2022年
3月期
FY2022/3

2023年
3月期
FY2023/3

1Q

2Q

3Q

4Q

1Q

半導体
SPE

57,70993,181

152,896

99,36635,91825,246

20,663

17,537

20,345

計測
Metr.

29,86623,87833,15936,960

10,246

8,788

9,472

8,452

9,225

合計Total87,576

117,060

186,056

136,326

46,16534,03430,13625,99029,571半導体
SPE29,18250,619102,370

89,371 117,153 108,134 104,714

89,371

90,993

計測
Metr.

7,782

6,301

9,904

12,42812,42813,758

合計
Total

36,96556,920112,274

101,799 130,520 121,398 119,496 101,799 104,752

半導体
SPE

56,19871,745

101,145

112,365

21,13534,26424,08432,88018,722

計測
Metr.

31,72825,35929,55634,436

6,783

8,892

7,954

10,806

7,895

合計
Total

87,927

97,105

130,702

146,801

27,91943,15632,03843,687

26,618半導体
SPE

7,915

13,565

24,69829,866

5,049

8,874

6,416

9,526

3,208

計測
Metr.

4,366

1,996

3,628

4,628

641

1,120

1,031

1,834

1,042

合計
Total

12,282

15,562

28,32734,494

5,691

9,994

7,448

11,361

4,250

半導体
SPE

14.1%

18.9%

24.4％

26.6%

23.9%

25.9%

26.6%

29.0％

17.1%

計測
Metr.

13.8%

7.9%

12.3％

13.4%

9.5%

12.6%

13.0%

17.0％

13.2%

合計
Total

14.0%

16.0%

21.7％

23.5%

20.4%

23.2%

23.2%

26.0％

16.0%

Aug 2nd, 2023

13,367

13,263

14,782

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

2Q

3Q

4Q

14損益計算書 Statements of Income（百万円）
Million Yen

会計期間 Fiscal Year
2020年
3月期
FY2020/3

2021年
3月期
FY2021/3

2022年
3月期
FY2022/3

四半期 Quarter
2023年
3月期
FY2023/3

2023年3月期 FY2023/3
1Q

2Q

3Q

2024年3月期 FY2024/3
4Q

1Q

2Q

売上高 Net Sales

87,927

97,105 130,702 146,801 27,919 43,156 32,038 43,687 26,618

売上原価 Cost of goods sold

53,45260,19077,69484,967 15,940 25,783 18,220 25,022 15,415

売上総利益 Gross Profit on Sales

34,47436,914

53,00861,834 11,978 17,372 13,817 18,664 11,203

販売費および⼀般管理費
Selling, general andadministrative expenses

22,192

21,351

24,681

27,339

6,287

7,378

6,369

7,303

6,952

営業利益 Operating profit

7,448 11,361

4,250

12,282

15,562

28,32734,494

5,691

9,994

営業外収益 Non-operating income

255

540

987

965

824

96-229274563

営業外費用 Non-operating expenses

177

235

153

162

1825

111

7103

35,297

7,107 11,628

4,710

経常利益 Recurring Profit

12,36015,867

29,160

特別利益 Extraordinary gains

57

1,354

390

103

558

12

2526

特別損失 Extraordinary losses

1,712

1,07434

2,099--1,751347

-

税引前利益
Profit before income taxes andminority interests

10,705

16,14729,51633,301

6,502 10,124

5,368 11,306

4,736

法人税等合計
Total Income tax and others

3,598

3,978

8,132

9,607

1,660

3,019

2,011

2,916

1,456

親会社株主に帰属する当期純利益
Net Profit attributable to Owners of
the Parent

7,156

12,17521,326

23,630

4,812

7,096

3,338

8,383

3,245

1株当たり当期純利益(円)Net Profit per Share（Yen)

171.89293.83522.52581.33 118.38 174.47

82.05 206.60

80.63潜在株式調整後1株当たり当期純利益(円)Net Profit per Share (diluted) (Yen)

170.72291.43517.51575.62Aug 2nd, 2023

6,496 10,065---

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

--

3Q

-

4Q

--

15

貸借対照表 Balance Sheet(百万円) (Million Yen)

2021年3月期
FY2021/3

2022年3月期
FY2022/3

2023年3月期
FY2023/3

2024年3月期(1Q末)FY2024/3 (1Q)

Current Assets
流動資産

現⾦及び預⾦Cash and cash equivalents

43,65749,03340,08028,433

売上債権※1
Accounts Receivable※1

30,94638,36743,40338,557

在庫 Inventories

32,88640,325

53,48262,544

その他 Others
合計 Total

固定資産合計 Total Fixed Assets
総資産 Total Assets

4,025

6,103

7,005

3,017

111,516

133,829

143,972

132,562

50,03956,45765,06069,213

190,287

209,032

201,775

23,062

29,87622,35919,464

その他 Others

16,23325,76528,58826,216

合計 Total

39,29655,64150,94745,681

固定負債合計 Total long-term liabilities

5,482

3,564

12,057

12,013Current
Liabilities
流動負債161,556

買入債務※2 Accounts Payable※2

負債合計 Total Liabilities

44,77859,20663,00457,695

純資産合計 Total Net Assets

116,777

131,081

146,028

144,080

負債・純資産合計 Total Liabilities and Net Assets

161,556

190,287

209,032

201,775

有利子負債合計 Total interest-bearing debt

7,581

5,497

14,191

13,143

⾃⼰資本⽐率 Equity Ratio(%)

71.4%

68.1%

69.0％

70.6%

⾃⼰資本利益率 ROE(%)

10.9%

17.4%

17.3％

-※1: 電子記録債権、契約資産を含む※2: 電子記録債務を含む
Incl. Electronically recorded monetary claims
Incl. Electronically recorded obligations-operating

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

16

各種費用, キャッシュフロー
Expenses and Cash Flows
2021年3月期
FY2021/3（百万円）(Million Yen)2022年3月期
FY2022/3

2023年3月期
FY2023/3

2024年3月期(1Q)
FY2024/3(1Q)

試験研究費 R&D expenses

7,193

8,146

8,542

2,225

設備投資 Capex

5,950

9,793

9,725

4,817

減価償却費（のれん除く）
Depreciation（excl. Amortization）

3,516

3,551

3,832

957

2021年3月期
FY2021/3（百万円）(Million Yen)

2022年3月期
FY2022/3

2023年3月期
FY2023/3

営業活動によるキャッシュフロー
Cash flows from operating activities

22,062

23,8371,000

投資活動によるキャッシュフロー
Cash flows from investing activities-5,191-8,990-8,421

フリーキャッシュフロー
Free cash flows

16,871

14,846-7,421

財務活動によるキャッシュフロー
Cash flows from financing activities-8,282-10,346-2,174

現⾦及び現⾦同等物に係る換算差額等
Adjustments

429

882625

43,62449,00640,036

現⾦及び現⾦同等物の期末残高
Cash and cash equivalents at the end of year

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

17

Number of employees

Aug 2nd, 2023

Copyright 2023 Tokyo Seimitsu Co., Ltd. (7729)

18