Consolidated Financial Results for 3rd
Quarter of Fiscal Year Ending March 31,2023

January 30, 2023

Copyright © Tokyo Electron Device LTD. All Rights Reserved.

Summary of the Third Quarter Financial Results
for the Fiscal Year Ending March 31, 2023
Year-on-Year Comparison: Higher sales and income
Net sales:
37.5% increase
Ordinary income: 99.4% increase
Net income attributable to owners of parent: 51.5% increase

CN Business: Strong customer demand, but effects on income
from longer delivery times and the weak yen.
EC Business: Strong demand for semiconductor products
as well as the weak yen led to positive results.
PB Business: Design and manufacturing was strong.
Copyright © Tokyo Electron Device LTD. All Rights Reserved.

2

Summary of Financial Results: Comparison with Prior Year

(Million yen)

FY2022 3Q

FY2023 3Q(April-December) (April-December)

ChangeNet sales

127,892

175,896

48,004

Cost of sales

110,212151,116

40,904Gross profit

17,68024,7807,100

Selling, general& administrative
expenses

12,946

14,371

1,424

Operating income

4,733

10,409

5,675

161
634

195
2,110

33
1,475

4,260
3,895
1,274

8,493
5,9011,313

4,233
2,006
39

Non-operating
incomeNon-operating
expenses

Ordinary income
Net income
No. of employees

FY2023
Forecast

230,000

11,0007,600*Net income is net income attributable to owners of parent
Copyright © Tokyo Electron Device LTD. All Rights Reserved.

3

Summary of Financial Results: Change in Net Sales
FY2022
3Q
Net Sales

CNBusiness

EC Business(Distribution)(PB Business)+¥4.4 bill.

+¥40.9 bill.

+¥2.7 bill.

EC Business

FY2023
3Q
Net Sales¥175.9billion¥127.9billion*Amounts arerounded off

In the segment categories, the PB Business is included in the EC Business.
PB is an abbreviation of “Private Brand;” the title was changed from In-House Brand Business, which was used in the past.
The PB Business includes Tokyo Electron Device Nagasaki Limited (TED Nagasaki) and FAST CORPORATION (FAST).
Copyright © Tokyo Electron Device LTD. All Rights Reserved.

4

Sales and Income by Segment••

CN Business: Despite longer delivery times for IT equipment, net sales increased for bothproduct sales and services.
The profit rate declined due to effects from the weak yen and higher SG&A expenses inconjunction with an increase in employees.
EC Business: Supplies of main products remained tight and there were effects from the weakyen; net sales and segment income were up.
(million yen)

FY2022
3Q

FY2023
3Q

Net Sales

Segment
IncomeNet Sales

ChangeSegment
IncomeChangeComputer Networks (CN)business

15,4791,239

19,862

4,382

1,035

▲204

Electronic Components(EC) business

112,4123,021

156,034

43,621

7,458

4,437

Total

127,892

4,260

175,896

48,004

8,493

4,233

* Segment income is ordinary income* In the segment categories, the PB Business is included in the EC Business
Copyright © Tokyo Electron Device LTD. All Rights Reserved.

5Segment Information: CN Business••

Sales of network-related products to system integrators and enterprises
were strong
Security-related and other products performed well
Network-Related
Products

Sales
Component
Ratios by
Product
Category

FY 2022
3Q
FY 2023
3Q

StorageRelated
Products

30%

17%

Sales
Component
Ratios byField

FY 2023
3Q

Copyright © Tokyo Electron Device LTD. All Rights Reserved.

Maintenance & Monitoring
Services

10%34%

System Integrators

FY 2022
3Q

Security-Related
Products, etc.

16%

43%
12%

38%

Data Centers &Enterprises & Cloud Business Telecommunications
Carriers
OthersOperators

43%

19%

25%
27%

41%
613%
23%

9%

Segment Information: EC Business••For industrial equipment, analog ICs, processors and design and manufacturing increased
For communications equipment, sales of electronic components, analog ICs and logic ICs tocommunications base stations increased

Sales
Component
Ratios by
Product
Category

FY 2022
3Q
FY 2023
3Q

Analog ICs

MicroProcessors

Logic ICs

36%

22%

15%

35%

Industrial Equipment

Sales
Component
Ratios byApplication

FY 2022
3Q
FY 2023
3Q

Copyright © Tokyo Electron Device LTD. All Rights Reserved.

Boards, Electronic
Components, etc.

Memory ICs

Software & Services

45 612%%% %19%

418%

23%
47%

19%
20%

714%%

46%%

Communications Equipment

Automotive Computers andEquipment
Peripherals

41%

PB

971%%%

Consumer Appliances andElectronics
Others14%

11%

7 1% %

PB Business: Net Sales—EC Business•••

Design & Manufacturing Services: Sales for medical equipment andsemiconductor manufacturing equipment were strong
TED Nagasaki: Strong sales for semiconductor manufacturing equipment
FAST: Imaging-related products are on a recovery trend(million yen)

FY2022
3Q

FY2023
3Q

PB business netsales

6,708

9,421

Net sales ratio

6.0%

6.0%

Amount ofChange

2,712

Rate ofChange

40.4%* The net sales ratio is the ratio to EC Business net sales

Copyright © Tokyo Electron Device LTD. All Rights Reserved.

8Balance Sheet
Assets•Liabilities & Net Assets

Notes and accounts receivable and inventories
increased due to strong orders and sales

145,066
6,398•(million yen)

17,080Notes andaccounts
payable58,262

Interestbearing
liabilities

33,582Otherliabilities32,018

36,141

Net assets

3/31/2022

12/31/2022

Cash & deposits

107,801
65,423

Notes andaccounts
receivable

15,43429,32550,44943,851Inventories

15,545
8,906

20,655
8,738

Other current assets

3/31/2022

12/31/2022

31,023

27,7660

145,066(million yen)

107,801
5,134Interest-bearing liabilities increased due toincreased demand for working capital

Copyright © Tokyo Electron Device LTD. All Rights Reserved.

Non-current assets

09Statement of Cash Flows
2022.3.31
Balance ofCash

Operating
C/F

5,028

▲24,973

Investment
C/F▲97Copyright © Tokyo Electron Device LTD. All Rights Reserved.

10

FinancialC/F

Exchangedifferences,etc.

2022.12.31
Balance ofCash

26,29948

6,306(Million yen)

Changes in Orders Received••

CN Business: In FY2023, there was an increase in long-term delivery orders,
and large orders in 1Q
EC Business: In the 3rd quarter of FY2023, there was a lull in long lead time orders
EC Business

76,983

CN Business
66,82760,54081,125
11,605

7,955

79,76770,925

12,92680,096
7,086

8,412

6,090

54,042

6,404

8,918

43,96537,030

6,973

7,668
54,13629,3620

2Q
FY202160,736

69,52069,02762,512

66,84173,01045,12436,992

3Q

Copyright © Tokyo Electron Device LTD. All Rights Reserved.

(million yen)

4Q

1Q
FY2022

2Q

3Q

11

4Q

1Q
FY2023

2Q

3Q