Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Year Ended March 31, 2014
(Based on Japanese GAAP)
April 28, 2014
Company name:TOSHIBA TEC CORPORATION

Stock exchange listing: Tokyo
Stock code:
6588

URL

http://www.toshibatec.co.jp/

Representative:

President and CEO
Senior Manager of Corporate

Mamoru Suzuki

Inquiries:

Communications and Business Planning
DivisionTakashi Mizuno

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

June 27, 2014
June 27, 2014

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:

June 2, 2014
Yes

Holding of financial results meeting:

Yes

TEL

03-6830-9151(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2014 (from April 1, 2013 to March 31, 2014)(1) Consolidated financial results

Percentages indicate year-on-year changes
Net salesYear ended March 31, 2014
Year ended March 31, 2013

Millions of yen
498,870
403,693

Operating income%
23.6
15.1

Millions of yen
23,086
15,885%45.3
46.7

Ordinary income
Millions of yen
20,06014,867%34.9
66.5

Net income
Millions of yen
7,133
6,212

Diluted net income
Ordinary
Net income/equity
per share
income/total assets
Yen
Yen%
%
25.99
25.94
4.6
5.1
22.64
22.61
4.4
4.5

Net income per share
Year ended March 31, 2014
Year ended March 31, 2013

%
14.8
142.1

Operatingincome/net sales%
4.6
3.9(2) Consolidated financial position
Total assets
As of March 31, 2014
As of March 31, 2013

Net assets

Millions of yen
393,964
388,512

Millions of yen
185,429
176,558

Cash flows fromoperating activities
Millions of yen
20,886
26,511

Cash flows frominvesting activities
Millions of yen(42,554)(43,762)

Equity ratio

Net assets per share%
40.2
38.8

Yen
576.50549.42(3) Consolidated cash flows

Year ended March 31, 2014
Year ended March 31, 2013

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(8,140)47,409(4,114)72,031

2. Cash dividends
Ratio ofDividend
Total cash
topayout ratio dividends
dividends (Total) (Consolidated)
net assets(Consolidated)

Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

Year ended March 31, 2013
Year ended March 31, 2014

––

4.00
4.00

–
–

4.00
4.00

8.00
8.00

2,194
2,195

35.3
30.8

1.6
1.4

Year ending March 31, 2015 (Forecast)

–

6.00

–

7.00

13.00

129.7

3. Forecast of consolidated financial results for the year ending March 31, 2015 (from April 1, 2014 to March 31, 2015)
Net sales
Millions of yen
Six months ending
September 30, 2014
Full year

Percentages indicate year-on-year changes
Net income
Operating income
Ordinary income
Net income
per share% Millions of yen% Millions of yen% Millions of yen%
Yen

250,000

3.5

12,00012.9

11,000

12.6

5,000

28.5

18.21

520,000

4.2

28,00021.3

26,00029.6

12,000

68.2

43.72

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2014(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

Yes
Yes

Restatement of prior period financial statements after error corrections:No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2014

288,145,704 shares As of March 31, 2013

288,145,704 shares

Number of treasury shares at the end of the period
As of March 31, 2014

13,699,523 shares As of March 31, 201313,827,203 shares

274,429,677 shares Year ended March 31, 2013

274,324,185 shares

Average number of shares during the period
Year ended March 31, 20142

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2013

As of March 31, 2014

AssetsCurrent assets
Cash and deposits
Group deposits paid

29,04142,99018,573
28,835

Notes and accounts receivable – trade
Merchandise and finished goods

83,881
28,85588,52732,970Work in process
Raw materials and supplies

2,631
6,232

2,324
6,740

Deferred tax assets
Other

6,222
31,568

7,552
38,007

Allowance for doubtful accounts(1,251)(1,317)

Total current assets

230,171

222,215

28,99830,393

Accumulated depreciation(21,043)(22,371)

Buildings and structures, net

7,954

8,021

Non–current assets
Property, plant and equipment
Buildings and structures

Machinery, equipment and vehicles

38,72240,499

Accumulated depreciation(27,889)(31,507)

Machinery, equipment and vehicles, net

10,832

8,992

49,53751,578(46,082)(46,107)

3,455

5,470

Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land

2,546

2,581

Leased assets
Accumulated depreciation

9,138(4,107)

11,676(4,921)

5,030

6,755

Leased assets, net
Construction in progress

2,025

1,495

Total property, plant and equipment

31,84533,315

Goodwill
Other

75,222
19,31239,60059,063

Total intangible assets

94,53598,664

Investment securities

4,116

4,385

Deferred tax assets
Other

19,671
8,292

21,00014,388

(311)

(153)

Intangible assets

Investments and other assets

Allowance for doubtful accounts
Total investments and other assets
Total non–current assets

31,76839,621

158,149

171,601

191

147

Deferred assets
Deferred organization expenses
Total deferred assets
Total assets

3191

147

388,512393,964

(Millions of yen)
As of March 31, 2013

As of March 31, 2014

Liabilities
Current liabilities
Notes and accounts payable – trade

71,76375,673

Short–term loans payable
Lease obligations

3,092
2,602

1,053
3,427

Accounts payable – other
Income taxes payable

38,057
3,417

17,525
3,769

Provision for directors' bonuses
Other

59
43,56051
53,939Total current liabilities

162,553

155,440

Lease obligations

2,922

4,260

Provision for retirement benefits
Provision for directors' retirement benefits

39,683142–
149

Net defined benefit liability
Other–
6,652

41,358
7,326

Total non–current liabilities

49,40053,094211,954

208,535

Shareholders' equity
Capital stock

39,97039,970Capital surplus
Retained earnings

52,98460,48352,97065,422

Treasury shares(5,624)(5,585)

Total shareholders' equity

147,814

152,778

763
–987
(4)

Foreign currency translation adjustment
Minimum pension liability adjustment

2,213
(73)

6,693
(55)

Remeasurements of defined benefit plans–(2,179)

2,903

5,442

145

130

Non–current liabilities

Total liabilities
Net assets

Accumulated other comprehensive income
Valuation difference on available–for–sale securities
Deferred gains or losses on hedges

Total accumulated other comprehensive income
Subscription rights to shares
Minority interests

25,69527,078

Total net assets

176,558

185,429

388,512393,964

Total liabilities and net assets

4Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended

Fiscal year ended

March 31, 2013

March 31, 2014

Net sales

403,693498,870

Cost of sales

224,362

283,747

Gross profit

179,331

215,123

Selling, general and administrative expenses

163,445

192,037

Operating income

15,88523,086

Interest income

342

341

Dividend income
Gain on sales of investment securities

3933

424

Foreign exchange gains
Gain on valuation of derivatives

315
214–
142

Reversal of allowance for doubtful accounts
Other

–448

294
601

1,394

1,426

Interest expenses

525

646

Loss on sales and retirement of non–current assets
Foreign exchange losses

109–

663
25

Business commencement expenses
Other

507
1,269

–
3,116

Total non–operating expenses

2,412

4,452

14,867

20,060Restructuring cost

1,987

5,696

Total extraordinary losses

1,987

5,696

Income before income taxes and minority interests

12,88014,364

Income taxes – current

6,171

6,148

Non–operating income

Total non–operating income
Non–operating expenses

Ordinary income
Extraordinary losses

Income taxes – deferred

457

1,258

Total income taxes

6,628

7,407

Income before minority interests

6,251

6,956

Minority interests in income (loss)

39(176)

6,212

7,133

Net income

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)
Fiscal year ended
March 31, 2013
Income before minority interests

Fiscal year ended
March 31, 2014
6,251

6,956

422
–224(4)Foreign currency translation adjustment
Minimum Pension Liability Adjustment

20,350
(21)

6,666
30

Total other comprehensive income

20,751

6,917

27,002

13,87423,335
3,667

11,851
2,022

Other comprehensive income
Valuation difference on available–for–sale securities
Deferred gains or losses on hedges

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to minority interests

6Consolidated statements of changes in net assets
Fiscal year ended March 31, 2013
(Millions of yen)
Shareholders' equity
Capital stock
Balance at beginning of current
periodCapital surplus

39,970Retained earnings

52,985

Total shareholders'equityTreasury shares

56,466(5,629)143,793

Changes of items during period
Dividends of surplus(2,194)(2,194)

Net income

6,212

6,212

Purchase of treasury shares
Disposal of treasury shares

(1)

(10)

(10)

15

13

Net changes of items otherthan shareholders' equity
Total changes of items during
periodBalance at end of current period

–

(1)

4,017

4

4,021

39,97052,98460,483(5,624)

147,814

Accumulated other comprehensive income
Valuationdifference on
available–for–sale securities
Balance at beginning of current
period341

Foreigncurrencytranslation
adjustment

Total
accumulated
Minimumotherpension liability
adjustment
comprehensive
income(14,498)(62)(14,219)

Subscription
rights to shares

112

Minority
interests

10,045

Total net assets

139,732

Changes of items during period
Dividends of surplus(2,194)

Net income

6,212

Purchase of treasury shares(10)

Disposal of treasury shares

13

Net changes of items otherthan shareholders' equity

422

16,712(10)

17,12332

15,64932,805

Total changes of items during
period422

16,712(10)

17,12332

15,64936,826

Balance at end of current period

763

2,213

(73)

2,903

145

25,695

176,558

7Fiscal year ended March 31, 2014
(Millions of yen)
Shareholders' equity
Capital stock
Balance at beginning of current
periodCapital surplus

39,970Retained earnings

52,984

Total shareholders'equityTreasury shares

60,483(5,624)

147,814

Changes of items during period
Dividends of surplus(2,195)(2,195)

Net income

7,133

7,133

Purchase of treasury shares
Disposal of treasury shares(38)(38)7763(13)

Net changes of items otherthan shareholders' equity
Total changes of items during
periodBalance at end of current period

–

(13)

4,938

38

4,964

39,97052,97065,422(5,585)

152,778

Accumulated other comprehensive income

Balance at beginning of current
periodValuationdifferenceonavailable–
for–salesecurities

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

Minimum
pensionliability
adjustment

763

–

2,213

(73)

TotalSubscription

Remeasurements

accumulated

rights toof definedothersharesbenefit planscomprehensive

Minority
interests

Total net
assets25,695

176,558

income–

2,903

145

Changes of items during period
Dividends of surplus(2,195)

Net income

7,133

Purchase of treasury shares(38)

Disposal of treasury shares

63

Net changes of items otherthan shareholders' equity

224

(4)

4,479

18(2,179)

2,538

(14)

1,383

3,907

Total changes of items during
period

224

(4)

4,479

18(2,179)

2,538

(14)

1,383

8,871

Balance at end of current period

987

(4)

6,693

(55)

(2,179)

5,442

130

27,078

185,4298Consolidated statements of cash flows(Millions of yen)
Fiscal year ended
March 31, 2013

Fiscal year ended
March 31, 2014

Cash flows from operating activities
Income before income taxes and minority interests

12,88014,364

Depreciation
Increase (decrease) in allowance for doubtful accounts

16,855(64)

21,216(88)

Increase (decrease) in provision for retirement benefits
Increase (decrease) in net defined benefit liability

3,015–(39,823)
37,974

Interest and dividend income
Interest expenses(382)
525(384)
646

Loss (gain) on sales and retirement of property, plant andequipment

109

663

Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities

(31)
8(4)
101

Restructuring cost
Decrease (increase) in notes and accounts receivable – trade

1,987(17,486)

5,696
3,621

Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable – trade(1,835)
16,435(1,492)(4,025)

Other, net(718)(11,343)

Subtotal

31,29927,121

Interest and dividend income received

390

405

Interest expenses paid
Income taxes paid

(503)
(4,674)(621)(6,018)Net cash provided by (used in) operating activities

26,511

20,886

Purchase of property, plant and equipment(8,297)(7,402)

Proceeds from sales of property, plant and equipment
Purchase of intangible assets

970(2,013)243(7,458)Purchase of investment securities
Proceeds from sales of investment securities

(114)
59

(13)
143

Net decrease (increase) in short–term loans receivable
Payments of long–term loans receivable

(293)
(12)

(6,101)(18)

18(33,510)

15(21,764)

Cash flows from investing activities

Collection of long–term loans receivable
Payments for transfer of business
Other, net

(570)

(197)

(43,762)(42,554)700(1)(2,662)–

Repayments of finance lease obligations
Purchase of treasury shares(2,404)(135)(2,801)(38)

Cash dividends paid
Cash dividends paid to minority shareholders(2,190)(96)(2,197)
(518)

1377

Net cash provided by (used in) financing activities(4,114)(8,140)Effect of exchange rate change on cash and cash equivalents

7,438

5,186

Net increase (decrease) in cash and cash equivalents(13,927)(24,622)

Cash and cash equivalents at beginning of period

85,95872,031

Cash and cash equivalents at end of period

72,03147,409Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short–term loans payable
Repayments of long–term loans payable

Other, net9