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 Six Months Ended September 30, 2019
[Japanese GAAP]
November 06, 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 filing quarterly securities report: November 08, 2019
Scheduled date of commencing dividend payments: December 02, 2019
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Six Months Ended September 30, 2019 (April 01, 2019 to September 30, 2019)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%Six months ended
September 30, 2019249,907
5.9
10,174
41.6
9,675
64.1
7,889
83.2
September 30, 2018
236,071(2.9)
7,184(30.9)
5,897(38.2)
4,307(16.4)(Note) Comprehensive income:Six months ended September 30, 2019:¥
4,120 million [(17.6) %]Six months ended September 30, 2018:¥
5,002 million [(29.4) %]Basic earnings
per share

Diluted earnings pershare

YenYenSix months ended
September 30, 2019
143.51143.33September 30, 2018
78.38
78.27
(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 theshare consolidation was executed at the beginning of the previous fiscal year.

(2) Consolidated Financial Position
Total assets

Net assets

Capital adequacy ratio

As ofMillion yen

Million yen%

September 30, 2019295,880

102,995

31.8

March 31, 2019
(Reference) Equity:

275,055
As of September 30, 2019:
As of March 31, 2019:100,758
93,993 million
90,898 million

33.0

¥
¥1

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2019

-

4.00

-

30.00

-

Fiscal year ending March 31, 2020

-

20.00

Year-end

Total

Fiscal year ending March 31, 2020

40.00
60.00
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
NoThe 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, 2020(April 01, 2019 to March 31, 2020)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings perNet sales
Operating profit
Ordinary profit
owners of parentshareMillionyen%Million
yen%Millionyen

Full year
480,000
0.7 20,000
11.2 18,000(Note) Revision to the financial results forecast announced most recently:
No%

Million
yen%

Yen

9.3

12,0007.0

218.36* Notes:(1) Changes in significant subsidiaries during the six months ended September 30, 2019(changes in specified subsidiaries resulting in changes in scope of consolidation):
NoNew(Company name:
Exclusion:(Company name:(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:))
Yes(3) 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(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
September 30, 2019:57,629,140 shares
March 31, 2019:57,629,140 shares2) Total number of treasury shares at the end of the period:
September 30, 2019:
2,641,179 shares
March 31, 2019:
2,670,805 shares
3) Average number of shares during the period:
Six months ended September 30, 2019:
Six months ended September 30, 2018:

54,972,777 shares
54,950,335 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, average number of shares during the period have been calculated assuming that the stock split was executed at
the beginning of the previous fiscal year.

2Quarterly Consolidated Financial Statement
Quarterly 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
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

3

As of September 30,2019

45,501
9,996
60,05434,775
1,905
6,584
31,888(1,443)
189,263

50,063
7,009
61,47032,404
5,186
7,411
33,075(1,375)
195,246

28,29044,017

3,691
10,055
13,746

2,964
9,968
12,93343,909(153)
43,75585,792275,055

43,771(89)
43,682
100,634
295,880

(Million yen)
As of March 31,2019Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
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

4As of September 30,2019

56,215383
1,800
68,374
126,774

58,250489
3,126
73,088
134,954

0
34,621
12,901
47,523
174,297423
34,062
23,44457,930
192,885

39,97045,103(5,474)
79,59939,97024
51,299(5,414)85,879

1,835

1,577

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

(12)
6,313
(437)
672
8,113
110
8,891
102,995
295,880

Quarterly Consolidated Statement of Income and Comprehensive Income
Quarterly Consolidated Statement of Income (For the six months)(Million yen)
For the six months
ended September 30,2018
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Gain on valuation of derivatives
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on valuation of derivatives
Foreign exchange losses
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
Restructuring cost
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

5

For the six months
ended September 30,2019

236,071
138,153
97,91890,733
7,184

249,907
147,446
102,461
92,287
10,174

180
24
824
177
1,206

144
54
2
217
419

176
1,388
928
2,493
5,897

209
13
695
918
9,675

506
506

3
3

6,403
2,125
4,278(28)
4,307

85
291
376
9,301
1,661
7,640(249)7,889

Quarterly Consolidated Statement of Comprehensive Income (For the six months)(Million yen)
For the six months
ended September 30,2018
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 toOwners of parent
Non-controlling interests

6For the six months
ended September 30,2019

4,278

7,640

(103)
32
476
208
110
724
5,002

(257)
(33)
(3,132)20(116)(3,520)
4,120

4,393
608

4,704(584)Quarterly Consolidated Statement of Cash Flows (For the six months)(Million yen)
For the six months
ended September 30,2018
Cash flows from operating activities
Profit before income taxes
Depreciation and amortization
Impairment loss of non-current assets
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Loss (gain) on sales of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Restructuring cost
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 intangible assets
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Net decrease (increase) in short-term loans receivable
Long-term loan advances
Collection of long-term loans receivable
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of finance lease obligations
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Payments from changes in ownership interests insubsidiaries that do not result in change in scope ofconsolidation
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
Cash and cash equivalents at end of period

7For the six months
ended September 30,2019

6,403
7,042
(180)
(239)
(204)
176
(506)
12,496228(4,588)(6,386)
14,242226(200)(4,387)
9,880

9,301
8,134
85
(88)
(750)
(199)
209
(3)
(3,573)(3,054)
4,732
291
1,315
16,400172(199)(2,042)408
14,740(5,487)39(1,157)(6)
631(5,102)92(1,468)(517)
3(667)-0(0)5160(6,481)0(0)4(20)(7,009)(7)(1,649)(1)(7)(1,373)(749)

109(2,346)
470
(38)
(2)
(1,646)(284)(1,495)-(5,285)(3,737)

1,441(2,418)(444)
57,35556,911

1,574
55,49857,072

Notes to Quarterly 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 first quarter of the fiscal year ending 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 thecumulative effect of applying this standard on the effective date of application as a transitional measure as of thebeginning of the first quarter of the fiscal year ending March 31, 2020.
As a result, as of the beginning of the first quarter of the fiscal year ending 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 second quarter of the fiscal year
under review was insignificant.

8