Financial Results Briefing for the Fiscal Year Ended March 31, 2024
• The information disclosed by the Company may include matters related to the future outlook.
Forecasts are based on information available at the time of publication, and the results may differ
significantly depending on economic conditions and other factors. The Company makes every effort
to improve the accuracy of its future outlook and disclose any changes as appropriate.
• While every effort has been made to ensure the accuracy of the information contained herein, theCompany does not guarantee or take responsibility for the accuracy of the information.

TOA Corporation
Securities Code: 6809

FINANCIAL RESULTS FOR THE FISCAL YEARENDED MARCH 31, 20242Performance for the FY Ended March 31, 2024 (Consolidated)(Million yen)
12,00060,00010,00050,00040,0008,000
30,000
6,000
4,000
2,000
0

FY ended
March 31, 2021

FY ended
March 31, 2022

FY ended
March 31, 2023

FY ended
March 31, 2024

■ Net sales

40,57540,864

45,123

48,814 (+8.2%)■ Operating profit

2,293

2,159

1,713

3,028 (+76.8%)■ Ordinary profit

2,558

2,407

2,104

3,710 (+76.3%)■ Net profit*

1,596

1,466

1,765

1,997 (+13.1%)*Profit attributable to owners of parent

Percentages indicate year-on-year change.

3

Net Sales for the FY Ended March 31, 2024 by Product Category
Annual figures(Million yen)

50,000949
1,814

40,000

2,662
6,085

1,584

6,807

Railway cars

6,274

6,097

Video

30,000Audio

20,00031,80733,161

FY ended
March 31, 2021

FY ended
March 31, 2022

37,011

41,035

10,0000

FY ended
March 31, 2023

4FY ended
March 31, 2024

Net Sales for the FY Ended March 31, 2024 by Regional Segment
Annual figures(Million yen)

50,00040,00030,000

1,549
1,640

1,851
2,081

3,895

4,518

5,927

6,418

1,922
2,536

2,046
2,615
6,335

The Americas

5,468

8,368

9,366

Europe,Middle East & Africa
Asia & PacificJapan

20,00027,56225,994

26,827

FY ended
March 31, 2022

FY ended
March 31, 2023

28,44910,0000China & East Asia

FY ended
March 31, 2021

5

FY ended
March 31, 2024

Japan Segment
Overview• Plants

We delivered many large broadcast systems, with an increased number ofprojects, primarily in the semiconductor-related industry.
Demand for updates to emergency broadcast systems increased to enhance fire
preparedness.

• Education facilities(Million yen)

FY ended
March 31, 2024

Year-on-year

Net sales

28,449+1,622

Operatingprofit6,348+1,053

Sales of security cameras to public elementary and junior high schools
increased.
We steadily captured the demand for replacement equipment.

• Transportation infrastructure facilities

We delivered emergency broadcast systems to airport facilities.
We delivered remote broadcast systems for railroad stations to support labor
reducing initiatives and uncrewed operations.

• Municipal facilities

Demand for COVID-19 pandemic support declined, but we delivered many
street security cameras for safety measures.
6Announcement Creator contributes to theoperational efficiency of railroad stations.

Japan Segment
Topic

Providing value that benefits customer communication• Seamless two-way communication at uncrewed
smart interchanges•

Audio and video feeds from a camera facilitate face-toface communication.

•Enhancing driver convenience while simultaneously
streamlining staff operational workload.

• Enhanced operational productivity and service
quality•The active presence in large commercial facilities, factories,hospitals, railroad stations, etc. alleviates the mental strain on
staff and reduces reliance on individual skills.

•

User-friendly operations for creating announcement soundfiles on a tablet PC have led to a growing number ofcustomers choosing our services.
7

Asia & Pacific Segment
Overview• Indonesia

The many deliveries of broadcast systems for the religious facilities market
continued from the previous fiscal year.

• Thailand

Demand related to commercial facilities, hotels, etc. increased in line with theeconomic recovery trend.
We delivered large systems to factories, hospitals, etc.

(Million yen)

FY ended
March 31, 2024

Year-on-year

Net sales

9,366+998

Operatingprofit

1,731+284• Vietnam

We supplied broadcast systems for major urban development projects andchain stores. We also provided microphone systems for conference use inmunicipal facilities.

Topic• Education facilities

We focused on expanding sales of digital amplifiers for schools in Thailand,
resulting in a significant increase in sales volume.
We delivered broadcast systems to large facilities in Malaysia.
8SA-60D School Digital Amplifier:
A single amplifier unit with multiple essentialfunctions made possible by our local marketing
activities

Europe, Middle East & Africa Segment
Overview• Germany
Recovery of economic activity following the COVID-19 pandemic has led toincreased capital investment.
Sales of voice alarm systems progressed steadily.

• UK(Million yen)

FY ended
March 31, 2024

Year-on-year

Net sales

6,335+867

Operatingprofit742+191

We delivered broadcast systems to the British Library.

• South Africa
We delivered large-scale general-purpose broadcast systems to hospitals andoffices.

Topic• Transportation infrastructure facilities
We directed our efforts towards acquiring projects, with a primary focus on theVX-3000 Series, resulting in deliveries to railroad stations in Belgium.
We aim to capture demand for voice alarm systems on ships as a new market.
9VX-3000 Series Voice Alarm System:
Delivered to railroad stations in Brussels,Belgium

The Americas Segment
Overview• U.S.
Sales of BGM equipment for stores, our key product, decreased.
We delivered broadcast systems to government facilities and education facilities.

• Canada
Sales of wireless microphone systems for school classrooms were stagnant.
However, there was an increase in sales of microphone systems for conference
use in medical and government facilities.

(Million yen)

FY ended
March 31, 2024

Year-on-year

Net sales

2,615

+78

Operatingprofit126+72

Topic• Crime prevention
We focused on expanding sales of the IP Audio Series for the security market,
experiencing increased sales, especially in Canada.
We expect sales will continue to expand through the development of newbusiness partners.
10The IP Audio Series facilitates automatic
broadcasting by linking various devices andsystems over networks.

China & East Asia Segment
Overview• China
We delivered broadcast systems to airports and education facilities.

• Taiwan
Sales to semiconductor fabs remained strong.

(Million yen)

FY ended
March 31, 2024

Year-on-year

Net sales

2,046+124

Operatingprofit157+22• Hong Kong
We delivered broadcast systems to municipal and religious facilities.

Topic• Strengthened sales to new distribution channels in South Korea
We focused on developing specifications of microphone systems forconference use in municipal facilities.

11TS-D1000 Series microphone systems forconference use:
Adaptable to various meeting sizes

Initiatives to Reduce Costs
Initiatives implemented during the FY ended March 31, 2024
IssuesMeasures• Costs continued to increase due to inflation, foreignexchange rates, etc. and the prices of raw materials
also continued to be high.

• We increased the use of standard parts and enabledcentralized purchasing to promote cost reduction.
• We revised prices both domestically and overseas.

• Despite the end of the pandemic-induced increases
in transportation expenses, ocean freight rates
were rising amidst global instability.

• We coordinated with multiple logistics companies toreduce transportation costs.

Subsequent initiatives
IssuesMeasures• Parts availability issues have peaked, yet certain
parts still have long lead times.

• We will strengthen efforts to coordinate our purchasing,production, logistics and sales operations.

• Inventory has increased due to our accelerated
buildup of products facing shortages.

• We will optimize our current product lineup and promote
the establishment of a system to prevent inventorybacklogs.
12Change in R&D Expenses, Capital Investment and Depreciation Expenses (Consolidated)(Million yen)

FY ended
March 31, 2023

FY ended
March 31, 2024

Year-on-year

R&D expenses

2,967

3,127+160

Capital investment

1,870

1,284-566

Depreciation expenses

1,496

1,591+95• The decrease in capital investment is a consequence of the expansion and renovation of factories as wellas the development of information system infrastructure in the fiscal year ended March 31, 2023.
13

Earnings Forecast (Consolidated)(Million yen)
12,00060,00050,00010,00040,000
8,000
30,000
6,000
4,000
2,000
0
FY ended
March 31, 2022

FY ended
March 31, 2023

FY ended
March 31, 2024

Forecast for FY ending
March 31, 2025

■ Net sales

40,864

45,123

48,81452,000■ Operating profit

2,159

1,713

3,028

3,700

■ Ordinary profit

2,407

2,104

3,710

3,900

■ Net profit*

1,466

1,765

1,997

2,400

*Profit attributable to owners of parent

14

Dividend Forecast for the FY Ending March 31, 2025
Set a target consolidated dividend payout ratio of 45%, considering performanceand a stable dividend of 40 yen(Yen)

9080
7060
50
4030
20
100

79.85 yen
54.51 yen

45.08 yen

*Dividend payout ratio:
73.4%*Dividend payout ratio:
44.4%

20 yenFY ended
March 31, 2022

62.61 yen
*Dividend payout ratio:
63.9%*Dividend payout ratio:
50.1%

40 yen40 yen40 yenFY ended
March 31, 2023

FY ended
March 31, 2024

Forecastfor FY ending
March 31, 2025

Stable dividend(paid per share)

Basic earnings
per share• 2,125,300 treasury shares were acquired through Off-Auction Own Share Repurchase Trading (ToSTNeT-3) on February 15,2024.
• Net profit in the earnings forecast for the FY ending March 31, 2025 is expected to be 2.4 billion yen, and the dividend payout ratio
is expected to be 50.1% based on a stable dividend of 40 yen.
1516