April 27, 2023
Listed Company: Toshiba Tec Corporation
Representative:
Hironobu Nishikori
Representative Director
President and Chief Executive Officer(Securities code: 6588,
Tokyo Stock Exchange Prime Market)
Contact:Akira Abe
General Manager of Corporate
Communications Division(Tel: +81-3-6830-9151)

Notice of revision to the consolidated financial results forecast for
the fiscal year ended March 31, 2023 and the reversal of some deferred tax assets
Toshiba Tec Corporation (the “Company”) hereby announces that the consolidated financial results forecast
released on February 6, 2023 for the fiscal year ended March 31, 2023 has been revised and the reversal of somedeferred tax assets as follows.

(1) Revision to the consolidated financial results forecast for the fiscal year ended March 31, 2023
Revision to the consolidated financial results forecast for the fiscal year ended March 31, 2023 (April 1, 2022March 31, 2023)
Operating profit

Ordinary profit

Profitattributable toowners of parent

Basic earnings
per share

Million yen

Million yen

Million yen

Million yen

Yen

Previously announced forecast (A)510,000

14,00011,500(45.17)

Revised forecast (B)510,000

16,00013,000(2,500)(14,000)

Change (B)-(A)－2,0001,500(11,500)

Change (%)

－

14.3

13.0

－

445,317

11,566

10,197

5,381

Net sales(Reference) Results of the previous
fiscal year (ended March 31, 2022)(252.97)

97.68(2) Reason for revision to the financial results forecast
Net sales in the consolidated financial results forecast for the fiscal year ended March 31, 2023 are expected
to be in line with the previously announced forecast in general. And on the profit front, operating profit andordinary profit increased in contrast with the previously announced forecast owing to factors such as fixed cost
reductions in addition to mix improvement, and the effects of tightness in international cargo transportation
were on an improving trend. In addition, profit attributable to owners of parent is expected to decline due tothe Company’s planning to reverse some deferred tax assets on a non-consolidated and a consolidated basis.
Based on these factors, the consolidated financial results forecast for the fiscal year ended March 31, 2023 hasbeen revised as above.
The reference exchange rates used in the consolidated financial results forecast for the fiscal year ended
March 31, 2023 are ¥135.11 to the US dollar and ¥140.86 to the euro.
Furthermore, there is no revision to the year-end dividend from 20 yen per share (annual dividend of 40 yen)released on February 6, 2023.

(3) About the reversal of some deferred tax assets
The Company’s planning to reverse some deferred tax assets about 9,135 million yen on a non-consolidated
basis, as a result of careful consideration of the recoverability of deferred tax assets, taking into consideration
future business performance trends and other factors. In addition, the Company expect to reverse some deferred
tax assets of approximately 11,418 million yen in the consolidated financial statements, so it has been reflectedas (1) Revision to the consolidated financial results forecast for the fiscal year ended March 31, 2023.
(Supplementary information)
Consolidated sales forecasts by segment for the fiscal year ended March 31, 2023
Previously
announced
forecast (A)Revised forecast(B)

Change (B)-(A)Change (%)(Reference)
Results of theprevious fiscalyear (endedMarch 31, 2022)

Million yen

Million yen

Million yen

Retail Solutions

287,000

297,000

10,0003.5

266,964

Workplace Solutions

228,000

217,000(5,000)(4,000)

1,000

(4.8)

182,129

Eliminations(11,000)－－

445,317

Consolidated net sales

510,000

510,000

Million yen－(3,776)

Consolidated operating profit forecasts by segment for the fiscal year ended March 31, 2023
Previouslyannounced
forecast (A)(Reference)
Results of theprevious fiscalyear (ended
March 31, 2022)

Revised forecast(B)Change (B)-(A)Million yen

Million yen

Million yen

Retail Solutions

8,000

9,000

1,000

12.5

10,609Workplace Solutions6,000

7,000

1,000

16.7957

Consolidated operating profit

14,00016,000

2,000

14.3

11,566

Change (%)

Million yen*Financial results forecasts are based on information currently available to the Company and certain assumptions
deemed reasonable and are not intended to be the Company’s guarantee that they will be achieved. Actual results
may vary due to a variety of factors.