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, 2020
[Japanese GAAP]May 26, 2020
Company name: TOSHIBA TEC CORPORATION
Stock exchange listing: Tokyo
Code number: 6588
URL: https://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 26, 2020
Scheduled date of commencing dividend payments: June 29, 2020
Scheduled date of filing annual securities report: June 26, 2020
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, 2020 (April 01, 2019 to March 31, 2020)(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, 2020
483,799
1.5
13,977(22.3)
11,559(29.8)
3,730(66.7)March 31, 2019476,824(7.1)
17,989(26.7)
16,471(27.7)
11,211(36.0)(Note) Comprehensive income:Fiscal year ended March 31, 2020:¥(1,383) million [-%]Fiscal year ended March 31, 2019:¥10,948 million [(43.2) %]Basic earnings per share

Diluted earnings per
share

Yen
Fiscal year ended
March 31, 2020
67.84
March 31, 2019
204.00(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
%

%

%

67.76
4.2
4.1
2.9
203.72
12.9
5.9
3.8
Fiscal year ended March 31, 2020:¥- million
Fiscal year ended March 31, 2019:¥- 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, 2020
288,473
96,38430.3
1,589.48
March 31, 2019
275,055
100,758
33.0
1,653.94(Reference) Equity: As of March 31, 2020:¥
87,399 million
As of March 31, 2019:¥90,898 million(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2020
March 31, 2019

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Million yen

Million yen

Million yen

Million yen

20,751
18,400(13,844)(12,779)(7,051)(8,129)53,30255,4981

2. Dividends
Annual dividends
1st
2nd
3rd
quarter-end quarter-end quarter-end

Year-end

Total

Payoutratio

Total
dividends(consolidated)

Dividends
to netassets(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

Million yen%%

March 31, 2019

-

4.00

-

30.00

-

2,747

24.5

3.2

March 31, 2020

-

20.00

-

10.00

30.00

1,649

44.2

1.8

-

0.00

-

-

-

Fiscal year ending
March 31, 2021-

(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 share consolidation
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, 2021 (April 01, 2020 to March 31, 2021)(% indicates changes from the previous corresponding period.)
Basic
Profit attributable to
Net sales
Operating profit
Ordinary profit
earnings perowners of parent
shareMillion yen

Full year

410,000% Million yen(15.3)% Million yen

10,000(28.5)

7,000% Million yen(39.4)

500

%

Yen

(86.6)

9.09* 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, 2020:
57,629,140 shares
March 31, 2019:57,629,140 shares2) Total number of treasury shares at the end of the period:
March 31, 2020:
2,642,915 shares
March 31, 2019:
2,670,805 shares
3) Average number of shares during the period:
Fiscal Year ended March 31, 2020:
Fiscal Year ended March 31, 2019:54,979,836 shares
54,954,677 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, 2020 (April 01, 2019 to March 31, 2020)(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, 2020
268,970
7.8
7,149
33.4
8,503
2.0
279
(96.9)March 31, 2019249,394(11.9)
5,358(56.2)
8,335(45.1)
8,875(49.9)
Basic earnings per share

Diluted earnings per share

Yen
Yen
Fiscal year ended
March 31, 2020
5.07
5.06
March 31, 2019161.51161.29(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, 2020
199,090
March 31, 2019
204,671(Reference) Equity: As of March 31, 2020:
As of March 31, 2019:

Net assets

Capital adequacy ratio

Million yen¥¥

375,126
77,89875,016 million
77,750 million

Net assets per share

%

Yen

37.7
38.0

1,364.27
1,414.72

Consolidated Financial Statement
Consolidated Balance Sheet(Million yen)
As of March 31,2019
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
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

3

As of March 31,2020

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

44,907
8,394
59,70133,502
4,974
8,026
30,435(1,393)
188,549

24,343(18,190)
6,152
43,841(33,791)
10,05043,725(37,808)
5,917
1,269
9,381
(5,259)4,121
779
28,29023,657(17,831)
5,825
45,252(34,685)
10,566
41,155(36,183)
4,971
1,268
30,294(9,122)
21,171
2,241
46,046

3,691
497
9,557
13,746

2,377
426
9,572
12,376

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

4,276
1,908
21,86913,466(19)
41,501
99,924288,473

(Million yen)
As of March 31,2019Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Lease obligations
Accounts payable - other
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease obligations
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
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 adjustments
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

4

As of March 31,2020

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

54,775346
7,043
22,101
3,845
42,358130,471

0
4,747
34,621
8,153
47,523
174,297804
18,74735,861
6,204
61,617
192,088

39,97045,103(5,474)
79,59939,97024
46,040(5,422)80,612

1,835

1,208

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

(4)
7,795
(521)
(1,691)
6,786
110
8,873
96,384288,473

Consolidated Statement of Income and Comprehensive Income
Consolidated Statement of Income(Million yen)
For the fiscal year
ended March 31,2019
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Insurance claim income
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
Compensation for damage
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Impairment loss of non-current assets
Loss on valuation of investment securities
Restructuring cost
Environmental expenses
Loss on dissolution of pension fund at consolidated
subsidiary
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

5

For the fiscal year
ended March 31,2020

476,824
278,464
198,359
180,370
17,989483,799
289,093
194,706
180,728
13,977

388
56
373
568
1,387

364
84
599
1,049

348
555
82
333
52
1,533
2,905
16,471

522
150
920
181
460
1,232
3,467
11,559

544
544

18
18

-

85
13
589
729

335

-

335
16,679
4,380
892
5,273
11,406
195
11,211

1,418
10,159
5,242
1,394
6,636
3,522
(207)
3,730

Consolidated Statements of Comprehensive Income(Million yen)
For the fiscal year
ended March 31,2019Profit (loss)
Other 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
Other comprehensive income
Comprehensive income
Comprehensive income attributable to
Owners of parent
Non-controlling interests

6

For the fiscal year
ended March 31,2020

11,406

3,522

(345)
43
(782)
305
320
(458)
10,948(627)(25)(1,710)(62)(2,480)(4,906)(1,383)

10,329
619

(781)
(601)

Consolidated Statement of Changes in Net Assets
For the fiscal year ended March 31,2019(Million yen)
Shareholders' equity
Share capital
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

Capital surplus

Retained earnings

12

35,861

39,970Treasury shares

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

1,045
39,97012

1,045

36,907(5,507)

71,382

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesPurchase of shares of
consolidated
subsidiaries
Transfer from retained
earnings to capitalsurplus
Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period(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 of
periodCumulative effects ofchanges in accounting
policies
Restated balance

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

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesPurchase of shares of
consolidated
subsidiaries
Transfer from retained
earnings to capitalsurplus
Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period(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

100,7587

For the fiscal year ended March 31,2020(Million yen)
Shareholders' equity
Share capital
Balance at beginning of
periodCumulative effects ofchanges in accounting
policies
Restated balance

Capital surplus

39,970Retained earnings-

Treasury shares

45,103

Total shareholders'equity(5,474)

79,599(44)
39,970-(44)45,058(5,474)79,554

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesPurchase of shares of
consolidated
subsidiaries
Transfer from retained
earnings to capitalsurplus
Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period(2,748)(2,748)

3,730

3,730

24

(10)

(10)

62

86
-

-

24

981

52

1,058

39,97024

46,040(5,422)80,612

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 of
periodCumulative effects ofchanges in accounting
policies
Restated balance

1,835

21

9,111

(458)

788

11,298147

9,712

100,758
(44)

1,835

21

9,111

(458)

788

11,298147

9,712

100,713

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesPurchase of shares of
consolidated
subsidiaries
Transfer from retained
earnings to capitalsurplus
Net changes in items
other than shareholders'equityTotal changes during
periodBalance at end of period(2,748)
3,730
(10)
86
(627)

(25)

(1,315)(62)(2,480)(4,511)

(36)

(838)

(5,387)

(627)

(25)

(1,315)(62)(2,480)(4,511)

(36)

(838)

(4,328)

1,208

(4)

7,795

(521)

(1,691)

6,786

110

8,873

96,3848

Consolidated Statement of Cash Flows(Million yen)
For the fiscal year
ended March 31,2020

For the fiscal year
ended March 31,2019
Cash flows from operating activities
Profit before income taxes
Depreciation and amortization
Impairment loss of non-current assets
Loss (gain) on sales and retirement of non-current
assetsIncrease (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
Restructuring cost
Environmental expenses
Loss on pension fund liquidation at consolidated
subsidiary
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Income taxes refund
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
Long-term loan advances
Collection of long-term loans receivable
Purchase of shares of subsidiaries resulting in change
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 borrowings
Proceeds from long-term borrowings
Repayments of finance lease obligations
Repayments of long-term borrowings
Payments from changes in ownership interests in
subsidiaries that do not result in change in scope of
consolidation
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
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 in scope of consolidation
Cash and cash equivalents at end of period
916,67914,308-

10,15916,629
85

333

181

(469)
(743)
(445)
348
9,034
(1,224)(5,305)
(544)
-

(148)
(1,721)(449)
522(1,267)(4,307)
543
(18)
13
589
729

335

-

(6,241)
26,065469(363)(7,770)18,4003,370
24,913419(509)(4,480)408
20,751(9,350)
131
(21)
680
(3,424)
(423)
3
(0)
13

(9,922)
194(1,254)22(2,740)
(34)
(1)
7

(667)

-

281
(12,779)(115)(13,844)80(3,056)(9)

13834(4,856)(3)(1,910)-(13)(2,471)(749)(8,129)(10)(2,745)(284)(7,051)251(2,051)(2,257)57,355(2,196)55,498399-

55,49853,302

Notes to Consolidated Financial Statement(Changes in Accounting Policies)(Application of IFRS 16“Leases”and ASU 2016-02“Leases”)
The Company's overseas consolidated subsidiaries have applied IFRS 16“Leases” and ASU 2016-02“Leases”
from the beginning of the fiscal year ended March 31, 2020.
Under this standard, the lessee should in principle recognize assets and liabilities arising from all leases.
In applying IFRS 16“Leases” and ASU 2016-02“Leases” the Company has adopted a method that recognizes the
cumulative effect of applying this standard on the effective date of application as a transitional measure as of the
beginning of the fiscal year ended March 31, 2020.
As a result, as of the beginning of the fiscal year ended March31, 2020, mainly leased assets
increased by 18,680 million yen, lease obligations in current liabilities increased by 4,495 million yen, lease obligations
in non-current liabilities increased by 14,230 million yen, and retained earnings decreased by 44 million yen.
The impact of the application of said accounting standard on profit and loss for the fiscal year under review was
insignificant.

10