Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Year Ended March 31, 2019
[Japanese GAAP]May 10, 2019
Company name: TOSHIBA TEC CORPORATION
Stock exchange listing: Tokyo
Code number: 6588
URL: http://www.toshibatec.co.jp/
Representative: Takayuki Ikeda
President and CEO
Contact: Takashi Mizuno
Senior Manager of Corporate Communications Division
Phone: 03-6830-9151
Scheduled date of Annual General Meeting of Shareholders: June 28, 2019
Scheduled date of commencing dividend payments: June 07, 2019
Scheduled date of filing annual securities report: June 28, 2019
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2019 (April 01, 2018 to March 31, 2019)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Fiscal year ended
March 31, 2019476,824(7.1)
17,989(26.7)
16,471(27.7)
11,211(36.0)March 31, 2018513,289
3.2
24,54667.6
22,76881.6
17,512125.7(Note) Comprehensive income:Fiscal year ended March 31, 2019:¥10,948 million [(43.2) %]Fiscal year ended March 31, 2018:¥19,264 million [210.0%]
Basic earnings per share

Diluted earnings per
share

Yen
Fiscal year ended
March 31, 2019
204.00March 31, 2018318.73(Reference) Equity in earnings (losses) of affiliated companies:

Yen

Ordinary profit
Rate of return on
Operating profit
to total assets
equityto net sales ratio
ratio
%

%

%

203.7212.9
5.9
3.8
318.3823.7
8.2
4.8
Fiscal year ended March 31, 2019:¥- million
Fiscal year ended March 31, 2018:¥- million(Note)The Company carried out the share consolidation at a ratio of one for every five common shares, effective on October 01, 2018.
Accordingly, the figures for basic earnings per share and diluted earnings per share have been calculated assuming that the shareconsolidation was executed at the beginning of the previous fiscal year.
(2) Consolidated Financial Position
Total assets
Net assets
Capital adequacy ratio
Net assets per share
Million yen
Million yen
%
Yen
As of
March 31, 2019
275,055
100,758
33.0
1,653.94
March 31, 2018282,630
93,21529.2
1,501.94(Reference) Equity: As of March 31, 2019:¥90,898 million
As of March 31, 2018:¥82,518 million(Note)The Company carried out the share consolidation at a ratio of one for every five common shares, effective on October 01, 2018.
Accordingly, the figures for net assets per share have been calculated assuming that the share consolidation was executed at the
beginning of the previous fiscal year.
(3) Consolidated Cash Flows
Cash and cash
Cash flows from
Cash flows from
Cash flows fromequivalents at the end
operating activities
investing activities
financing activitiesof period
Million yen
Million yen
Million yen
Million yen
Fiscal year ended
March 31, 201918,400(12,779)(8,129)55,498March 31, 201829,092(11,487)(6,095)57,35512. Dividends
Annual dividends
1st
2nd
3rd
quarter-end quarter-end quarter-end

Year-end

Total

Dividends
to netassetsPayoutratio

Total
dividends(consolidated)(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

Million yen%%

March 31, 2018

-

3.00

-

5.00

8.00

2,197

12.6

3.0

March 31, 2019

-

4.00

-

30.00

-

2,747

24.5

3.2

-

20.00

-

40.00

60.00

Fiscal year ending
March 31, 2020

27.5

(Forecast)(Notes)The Company carried out the share consolidation at a ratio of one for every five common shares, effective on October 01,
2018. Accordingly, the amount of the year-end dividend per share for the year ended March 31, 2019 takes this shareconsolidation into account and disclosure of the total annual dividends per share is described as "-".
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2020 (April 01, 2019 to March 31, 2020)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Operating profit
Ordinary profit
owners of parent
per share

Net sales
Million yen

Six months ended
September 30, 2019
Full year%

Yen

235,000(0.5)% Million yen

8,000

11.3

% Million yen

7,000

18.7

% Million yen

4,600

6.8

83.70

480,000

0.7

20,00011.2

18,0009.3

12,0007.0

218.36* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No
New(Company name:)
Exclusion:(Company name:)(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2019:57,629,140 shares
March 31, 2018:
57,629,140 shares2) Total number of treasury shares at the end of the period:
March 31, 2019:
2,670,805 shares
March 31, 2018:
2,688,267 shares
3) Average number of shares during the period:
Fiscal Year ended March 31, 2019:
Fiscal Year ended March 31, 2018:

54,954,677 shares
54,943,772 shares(Note)The Company carried out the share consolidation at a ratio of one for every five common shares, effective on October 01, 2018.
Accordingly, the figures for total number of issued shares (common shares), total number of treasury shares at the end of the period,
and average number of shares during the period have been calculated assuming that the stock split was executed at the beginning of theprevious fiscal year.

2

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2019 (April 01, 2018 to March 31, 2019)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Operating profit
Ordinary profit
Net income
Million yen%
Million yen%
Million yen%
Million yen%
Fiscal year ended
March 31, 2019249,394(11.9)
5,358(56.2)
8,335(45.1)
8,875(49.9)March 31, 2018282,974
8.5
12,239701.8
15,184(61.4)
17,733(51.3)
Basic earnings per share

Diluted earnings per share

Yen
Yen
Fiscal year ended
March 31, 2019161.51161.29March 31, 2018322.76322.40(Note)The Company carried out the share consolidation at a ratio of one for every five common shares, effective on October 01, 2018.
Accordingly, the figures for basic earnings per share and diluted earnings per share have been calculated assuming that the shareconsolidation was executed at the beginning of the previous fiscal year.

(2) Non-consolidated Financial Position
Total assets
Million yen
As ofMarch 31, 2019
204,671
March 31, 2018
209,349(Reference) Equity: As of March 31, 2019:
As of March 31, 2018:

Net assets

Capital adequacy ratio

Million yen¥¥

77,89871,72577,750 million
71,572 million

Net assets per share

%

Yen

38.0
34.2

1,414.72
1,302.70(Note)The Company carried out the share consolidation at a ratio of one for every five common shares, effective on October 01, 2018.
Accordingly, the figures for net assets per share have been calculated assuming that the share consolidation was executed at the
beginning of the previous fiscal year.

3Consolidated Financial Statement
Consolidated Balance Sheet(Million yen)
As of March 31, 2018
AssetsCurrent assets
Cash and deposits
Group Deposits Paid
Notes and accounts receivable - trade
Merchandise 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
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Goodwill
Customer relationship assets
Other
Total intangible assets
Investments and other assets
Investment securities
Net defined benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

4

As of March 31, 201957,35567,99632,885
1,525
6,758
32,775(1,925)
197,373

45,501
9,996
60,054
34,775
1,905
6,584
31,888(1,443)
189,263

24,044(17,944)
6,099
41,686(33,718)
7,968
45,442(39,423)
6,018
1,269
11,758(6,208)5,550
1,183
28,09024,343(18,190)
6,152
43,841(33,791)
10,05043,725(37,808)
5,917
1,269
9,381
(5,259)4,121
779
28,290

4,083
568
8,484
13,135

3,691
497
9,557
13,746

6,058
2,448
23,36812,262(107)
44,03085,257
282,630

4,008
2,459
22,653
14,787(153)
43,75585,792275,055

(Million yen)
As of March 31, 2018
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Lease obligations
Accounts payable - other
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Lease obligations
Net defined benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Minimum pension liability adjustment
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

As of March 31, 201959,604304
4,795
25,2694,771
45,154
139,898

56,215383
4,054
22,8341,800
41,486
126,774

5,682
35,7798,054
49,516
189,415

4,747
34,621
8,154
47,523
174,297

39,97012
35,861(5,507)70,33739,97045,103(5,474)
79,599

2,181

1,835

(22)
10,207(655)
468
12,180153
10,543
93,215
282,630

21
9,111
(458)
788
11,298147
9,712
100,758
275,055

Consolidated Statement of Income and Comprehensive Income
Consolidated Statement of Income(Million yen)
For the fiscal year
ended March 31, 2018
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Insurance income
Gain on valuation of derivatives
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on valuation of derivatives
Foreign exchange losses
Loss on sales and retirement of non-current assets
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of investment securities
Gain on sales of shares of subsidiaries
Gain on reversal of foreign currency translation
adjustment
Total extraordinary income
Extraordinary losses
Loss on pension fund liquidation at a consolidated
subsidiary
Loss on valuation of investment securities
Restructuring cost
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

6

For the fiscal year
ended March 31, 2019

513,289
305,196
208,093
183,547
24,546476,824
278,464
198,359
180,370
17,989

560
97
0
820
339
1,818

388
56
373
568
1,387

631
1,235
89
1,640
3,597
22,768

348
555
82
333
1,586
2,905
16,471

274
238

544
-

438

-

951

544

-

335

236
176
412
23,307
5,079
(572)
4,507
18,8001,287
17,512335
16,679
4,380
892
5,273
11,406
195
11,211

Consolidated Statement of Comprehensive Income(Million yen)
For the fiscal year
ended March 31, 2018
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Minimum pension liability adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

7

For the fiscal year
ended March 31, 201918,80011,406

598
(16)
732
76
(927)
463
19,264

(345)
43
(782)
305
320
(458)
10,94818,504

10,329760

619

Consolidated Statement of Changes in Net Assets
For the fiscal year ended March 31, 2018
(Million yen)
Shareholders' equity
Capital stock
Balance at beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes of items during
periodDividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesPurchase of shares of
consolidated
subsidiaries
Transfer to capitalsurplus from retained
earnings
Net changes of items
other than shareholders'equityTotal changes of items
during period
Balance at end of current
periodBalance at beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes of items during
periodDividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesPurchase of shares of
consolidated
subsidiaries
Transfer to capitalsurplus from retained
earnings
Net changes of items
other than shareholders'equityTotal changes of items
during period
Balance at end of current
periodCapital surplus

Retained earnings

11

19,722

39,970Total shareholders'equity(5,488)54,217

Treasury shares

39,97011

19,722(5,488)54,217(1,373)(1,373)

17,512

17,512
(22)

(22)

3

4

0

-

-

0

16,139(19)

16,12039,97012

35,861(5,507)70,337

Accumulated other comprehensive income
Valuation Deferred Foreign Minimum Remeasurements Total
Share
Total netdifference gains or currency pension of defined accumulated acquisition Non-controllinginterests
assetsonotherrightson translation liability
benefit comprehensive
available-for-sale losses
securities hedges adjustment adjustment plansincome
1,581
(6)
8,927
(720)
1,407
11,189104
10,53776,047
1,581

(6)

8,927

(720)

1,407

11,189104

10,53776,047(1,373)
17,512
(22)
4
600

(16)

1,280

65

(939)

991

49

6

1,046

600

(16)

1,280

65

(939)

991

49

6

17,167

2,181

(22)

10,207(655)

468

12,180153

10,543

93,2158

For the fiscal year ended March 31, 2019
(Million yen)
Shareholders' equity
Capital stock
Balance at beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes of items during
periodDividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesPurchase of shares of
consolidated
subsidiaries
Transfer to capitalsurplus from retained
earnings
Net changes of items
other than shareholders'equityTotal changes of items
during period
Balance at end of current
periodCapital surplus

Retained earnings

12

35,861

Total shareholders'equity(5,507)70,337

1,045

1,045

39,97039,97012

Treasury shares

36,907(5,507)

71,382(2,472)(2,472)

11,211

11,211

10

(13)

(13)

46

56

(564)

(564)

542

(542)

-

-

(12)

8,196

32

8,216

39,970-45,103(5,474)

79,599

Accumulated other comprehensive income
Valuation
Total
Share
Deferred Foreign Minimum Remeasurements
difference
accumulated acquisition Non-controlling Total net
gains or currency pension of definedinterests
assetsonotherrightslosses on translation liability
benefitavailable-for-salecomprehensive
hedges adjustment adjustment planssecurities
incomeBalance at beginning ofcurrent period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes of items during
periodDividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesPurchase of shares of
consolidated
subsidiaries
Transfer to capitalsurplus from retained
earnings
Net changes of items
other than shareholders'equityTotal changes of items
during period
Balance at end of current
period

2,181

2,181

(22)

(22)

10,207(655)

10,207

(655)

468

468

12,18012,180153

153

10,543

93,215547

1,592

11,09094,807(2,472)
11,211
(13)
56
(564)
(345)

43

(1,096)

196

320

(881)

(5)

(1,378)(2,266)(345)

43(1,096)

196

320

(881)

(5)

(1,378)

5,950

1,835

21

9,111

(458)

788

11,298147

9,712

100,7589

Consolidated Statement of Cash Flows(Million yen)
For the fiscal year
ended March 31, 2019

For the fiscal year
ended March 31, 2018
Cash flows from operating activities
Profit before income taxes
Depreciation and amortization
Loss (gain) on sales and retirement of non-current assets
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in net difined benefit liability
Interest and dividend income
Interest expenses
Decrease (increase) in notes and accounts receivable trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade
Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
Loss (gain) on sales of shares of subsidiaries
Loss (gain) on pension fund liquidation of aconsolidated subsidiary
Restructuring cost
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of intangible assets
Payments for acquisition of businesses
Net decrease (increase) in short-term loans receivable
Payments of long-term loans receivableCollection of long-term loans receivable
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Payments for sales of shares of subsidiaries resulting inchange in scope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Repayments of finance lease obligations
Repayments of long-term loans payable
Payments from changes in ownership interests in
subsidiaries that do not result in change in scope of
consolidation
Purchase of treasury shares
Cash dividends paid
Dividends paid to non-controlling interests
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase (decrease) in cash and cash equivalents resulting
from change of scope of consolidation
Cash and cash equivalents at end of period

23,307
14,03689(1,247)
(315)
(658)
631

10

16,67914,308
333
(469)
(743)
(445)
348

(4,253)

9,034

(756)
(983)
(274)
236
(238)

(1,224)(5,305)
(544)
-

-

335

176
5,966
35,716632(610)(6,646)29,092(6,241)
26,065469(363)(7,770)18,400(8,214)
123
(13)
313
(3,349)
(320)
0
(7)
12

(9,350)
131
(21)
680
(3,424)
(423)
3
(0)
13

-

(667)

(289)
257
(11,487)281(12,779)(787)(3,415)(3)

80(3,056)(9)-(1,910)(22)(1,374)(492)
0(6,095)(282)
11,226
46,129(13)(2,471)(749)(8,129)251(2,257)57,355-399

57,35555,498

Notes to Consolidated Financial Statement(Changes in Accounting Policy)
TOSHIBA TEC CORPORATION Group's subsidiaries reporting under IFRS and US GAAP have applied IFRS 15 and
ASU 2014-09 "Revenue from Contracts with Customers" from the beginning of the fiscal year ended March 31, 2019.
The impact of this change on profit or loss for the twelve months ended March 31, 2019 is insignificant.
The Group has adopted the approach of recognizing the cumulative effect of applying this standard at the date ofinitial application as permitted by transitional method of IFRS 15 and ASU 2014-09.
(Changes of indication)(Changes of indication accordance with application of "Partial Amendments to Accounting Standard for Tax
Effect Accounting", etc.)
TOSHIBA TEC CORPORATION has applied the ASBJ Statement No.28 "Partial Amendments to AccountingStandard for Tax Effect Accounting" and relevant Guidances effective from the beginning of the fiscal year ended
March 31, 2019. Accordingly, Deferred tax assets are classified as Investments and other assets, and Deferred tax
liabilities are classified as Non-current liabilities.
As a result, 6,155 million yen of Deferred tax assets in Current assets is included in Deferred tax assets in
Investments and other assets in Consolidated Balance Sheet as of March 31, 2018.

11