FY2023 First Quarter
Consolidated Business Results

Toshiba Tec Corporation
Aug 7, 2023

© 2023 Toshiba Tec Corporation

Contents

01 Key Messages
02

FY2023 First Quarter
Consolidated Business Results

03 FY2023 Forecast
04 Tender Offer for Treasury Shares© 2023 Toshiba Tec Corporation2

01
Key Messages© 2023 Toshiba Tec Corporation

3

Key Messages
In the 1st quarter (April – June) of FY2023, financial indicators(mentioned the below) exceeded the performances of previous year
for all company- Net sales, operating profit, ordinary profit and profit attributable to owners of parent
In the 1st quarter (April – June) of FY2023, both net sales and operating
profit increased year-on-year
In the 1st quarter (April- June), both Retail Solutions and Workplace Solutions businesses
posted higher net sales year-on-year, and operating profit increased by 1.1 billion yen
mainly due to a strong contribution by Workplace Solutions business

Commence tender offer for treasury shares （2,444,200 shares）
Announced the commencement of tender offer for treasury shares to return profits toshareholders through improved capital efficiency, including earnings per share (EPS) andreturn on equity (ROE)© 2023 Toshiba Tec Corporation

4

02
FY2023 First Quarter
Consolidated Business Results© 2023 Toshiba Tec Corporation

5

FY2023/1Q Business Results (Consolidated)(Billions of yen)

Net Sales

FY2022/1Q

Difference

ActualActualvs FY2022/1Q

122.4

109.3

+13.1

1.3

0.2

+1.1

(1.1%)(0.2%)

0.4△2.3(0.3%)

(-%)

0.0

△2.2(0.0%)(-%)

US$135.79

126.51+9.28

EUR

147.93136.75+11.18Operating Profit(Rate of sales)

Ordinary Profit/loss(Rate of sales)

Profit/loss Attributable toOwners of Parent(Rate of sales)

Foreign Currency
Exchange Rate (Yen)FY2023/1Q+2.7+2.2© 2023 Toshiba Tec Corporation

6Operating Profit Analysis of FY2023/1Q
Gross Profit+6.7

SG&A
▲5.7

(Billions of yen)Salesvolume+3.6

Salesmix+1.5
0.2
FY2022/1Q
Operating
ProfitImpact ofexchange ratechanges+1.6

Personnel
Expenses

▲1.6

R&D

▲1.0Others▲1.5

Impact ofexchange ratechanges▲1.6

1.3
FY2023/1Q
OperatingProfit© 2023 Toshiba Tec Corporation

7

FY2023/1Q Business Results by Segment(Billions of yen)

Retail Solutions
Business GroupFY2023/1Q

FY2022/1Q

Difference

ActualActualvs FY2022/1Q

Net Sales

69.1

63.4+5.7

Operating Profit△0.80.1△0.9(-%)(0.1%)(Rate of sales)
80.0
70.0
60.0
50.0

Sales by regions
69.1
6.2
6.1
18.6

40.0

63.4
5.0
6.3
17.0

EuropeAmericas

Domestic

30.0
20.0

Others38.2

35.1

FY2023/1Q

FY2022/1Q

10.00.0© 2023 Toshiba Tec Corporation8

FY2023/1Q Business Results by Segment(Billions of yen)

WorkplaceSolutions
Business GroupFY2023/1Q

FY2022/1Q

Difference

ActualActualvs FY2022/1Q

Net Sales

54.5

46.8+7.7Operating Profit

2.1

0.1

+2.0

(3.9%)(0.3%)(Rate of sales)

Sales by regions

70.0
60.0
50.0

54.5
12.2

9.8

40.0
30.0

46.8

15.2

14.3

OthersEuropeAmericas

Domestic

20.0

23.4
10.0
0.0

19.0

3.7

3.6

FY2023/1Q

FY2022/1Q© 2023 Toshiba Tec Corporation9Balance Sheet
The equity ratio at the end of the 1st quarter remains appropriate
The tender offer will be financed by borrowings,
but the appropriate capital adequacy ratio will be maintained

Assets
310.7
43.8

74.3
55.5
27.0

Exchange
ratechanges+16.2Exchange
ratechanges+3.9
Exchange
ratechanges+3.9

Liabilities and Net Assets
316.8
310.7

316.8
40.9

Cash and cash
equivalents

70.5

Notes and accounts
receivables-trade,and contract assets

63.8
29.1

110.1

112.5

2023/3E

2023/6E

208.5

213.1

102.2

103.7

2023/3E

2023/6E(Billions of yen)

Liabilities

Inventories
Other current
assetsNon-current
assetsNet Assets© 2023 Toshiba Tec Corporation

10

03
FY2023 Forecast© 2023 Toshiba Tec Corporation

11

FY2023 Forecast (Consolidated)(Billions of yen)

FY2023

FY2023Prev. Forecast

Forecast(May 11)FY2022

Difference
vs Prev.
Forecast

Actualvs FY2022
ActualNet Sales

530.0

520.0

510.8+10.0+19.2

Operating Profit

18.0

18.0

16.1-+1.9(3.4%)(3.5%)(3.1%)

15.0

15.0

13.1-+1.9(2.8%)(2.9%)(2.6%)

7.0

7.0△13.7-+20.7(1.3%)(1.3%)(-%)

Dividends

45Yen

45Yen

40Yen

-+5YenUS$
Foreign Currency
Exchange Rate (Yen) EUR

132.71*130.00135.11+2.71△2.40

143.46*140.00140.86+3.46+2.60(Rate of sales)

Ordinary Profit(Rate of sales)

Profit/loss Attributable toOwners of Parent(Rate of sales)*Foreign currency exchange rates of FY2023/2Q~ forecast are US$=130.00 yen, EUR=140.00 yen.
© 2023 Toshiba Tec Corporation

12

FY2023 Forecast by Segment(Billions of yen)

FY2023Prev. Forecast

Forecast

Retail Solutions
Business Group(May 11)

FY2022Difference
vs Prev.
Forecast

Actualvs FY2022
ActualNet Sales

310.0

307.0

297.0

+3.0+13.1

Operating Profit

11.0

11.0

9.2

-+1.8(3.5%)(3.6%)(3.1%)

226.0

218.0

217.7+8.0+8.3

7.0

7.0

6.9

-+0.1

(3.1%)(3.2%)(3.2%)(Rate of sales)

WorkplaceSolutions
Business GroupFY2023

Net Sales
Operating Profit(Rate of sales)© 2023 Toshiba Tec Corporation13

04
Tender Offer for Treasury Shares© 2023 Toshiba Tec Corporation

14

Background and Purpose of the Tender Offer for the Treasury Shares【Background】⚫ The company has deliberated purchases of treasury shares for the purpose offlexible equity policy⚫ The company has received a request from its parent company, Toshiba Corporation,in the 1st quarter of FY2023 that Toshiba wished to sell part of the common stockof the company held by Toshiba【Purpose】⚫ Increase in the company’s earnings per share (EPS) and improved capital efficiency(shareholder returns), such as return on equity (ROE)⚫ Avoid share price declines due to market sell-offs© 2023 Toshiba Tec Corporation

15

Impact of share repurchases on financial indicators（＊）Effect simulation at the end of fiscal year
（EPS, ROE）
Before TOB
Estimated EPS

After TOB

EffectEstimated EPS

126.47 yen
Estimated ROE

131.76 yen+5.29 yen

Estimated ROE

7.3%

7.9%

+0.6%

Assumptions for calculations：・Net profit：7,000 million yen (Estimated net profit for the fiscal year ending March 2024)
・Total number of issued shares：55,347,472 shares (As of March 31, 2023 <Excluding treasury shares>)
・Net worth：96,195 million yen (Balance at the end of March 2023)

・The number of shares to be purchased：2,222,000 shares (Calculated based on the number of Pre-Tendered shares out of
the number of to be purchased)© 2023 Toshiba Tec Corporation16

Summary of the Tender Offer⚫ Date of public notice of the commencement of the tender offer： August 8, 2023
⚫ Period of tender offer：

From August 8, 2023 to September 5, 2023

⚫ The number of shares to be purchased：

2,444,200 shares(4.42% of total number of issued shares<excluding treasury shares>)⚫ Purchase price：

3,575 yen (Acquisition amount：8.7 billion yen)

© 2023 Toshiba Tec Corporation

17

Appendix© 2023 Toshiba Tec Corporation18

FY2023 Forecast : Impact of Currency Exchange Rate

Premise Rate

Effect of depreciationby 1 yen

FY2023/2Q~

Net Sales（Annual）

Operating Profit（Annual）

US$130 yen＋1.8 billion yen△0.1 billion yen

EUR140 yen+0.3 billion yen＋0.1 billion yen© 2023 Toshiba Tec Corporation19

FY2023 Forecast:
Capital investment*, Depreciation and Amortization, R&D expenses(Billions of yen)

Capital investment*,Depreciation and Amortization
2535
21.0

20

15

R&D expenses

17.6
14.9

15.5

16.8

29.0

30
18.0

25

24.5
21.9

20
15

10

10
5
500
FY2021

Capital investment *FY2022

FY2023
Forecast

Depreciation and Amortization*The increase amount of tangible assets and intangible assets

FY2021

FY2022

FY2023
Forecast

R&D expenses© 2023 Toshiba Tec Corporation20

Forward-looking statements concerning Toshiba Tec's future
performance contained in this presentation represent certain
reasonable assumptions based on economic, financial andcompetitive data and information currently available. However,actual results will be affected by the business and competitiveenvironment and may differ materially from forecasts.

© 2023 Toshiba Tec Corporation21

© 2023 Toshiba Tec Corporation22