Company Outline / Stock Information■ Company Outline (As of March 31, 2015)■ Stock Information (As of March 31, 2015)

Tokyo Boeki Group Tokyo Boeki Holdings Corporationand 19 group companies

Total Number of Authorized Shares

38,519,920 shares

Total Number of Stocks Issued

Common Stock 5,045,165 shares

Established

October 30, 1947

Capital Stock

5.0 billion yen(Shareholders’ equity: 18.4 billion yen)Class A Preferred Stock 1,700,000 shares
Number of Shareholders

122

Employees

927Tokyo Boeki Ltd.

Ratio of
Numbers ofstocks held Shareholding
1,700,000 shares
25.20%

Head Office(Pure holding company)

Tokyo Boeki Holdings Corporation
2-13-8 Hatchobori, Chuo-ku, Tokyo 104-8510 JapanTokyo Boeki Employee Share Holding Commission

831,000 shares

12.33%

Tokyo Marine & Nichido Fire Insurance Co., Ltd.

498,000 shares

7.38%

The Toa Reinsurance Company, Limited

408,000 shares

6.05%

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

249,000 shares

3.69%

Nippon Life Insurance Company

120,000 shares

1.78%■ Executives of Tokyo Boeki Holdings Corporation (As of June 26, 2015)

Name of Shareholder* 1,700,000 shares of Tokyo Boeki Ltd. are Class A Preferred Stock.

Board of Directors
Director, Supreme Advisor

Hiroshi Machida

Our Group Website

Chairman & CEO

Hideya Goami

President & COO

Toshiaki Ueda

A variety of contents are available on the website, including the latest news from the Company and an introduction to our business.

Director, Executive Vice President

Tomihiro Kato

Senior Managing Director

Ikuro Kida

http://www.tokyo-boeki.co.jp/

Board of Corporate Auditors
Standing Corporate Auditor

Toshihiko Kezuka

Corporate Auditor

Yoshimi Ito

Corporate Auditor

Yasuhiro Numata

TOKYO BOEKI GROUP
2-13-8, Hatchobori, Chuo-ku, Tokyo 104-8510 Japan
TEL: 03-3555-7211 FAX: 03-3555-7079

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Active all over the world.
TOKYO BOEKI GROUP
Annual Report
April 1, 2014 – March 31, 2015

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Active all over the world.

Carrying on the “Three founding spirits (TOMAS spirit)” and “Management Philosophy and Mission” of the Tokyo Boeki Group,
we are promoting “Tokyo Boeki Group Federated Management” as an independent, business-creating corporate group.

Three founding spirits = TOMAS spirit
1.	Mindset to overcome any obstacle and to never

Generating synergistic effects“Tokyo Boeki Group Federated Management”
Energy Machinery Industry Group

reduce our efforts
ENERGY

2. Mindset of a pioneer
3. Mindset of management among all employees

Management Philosophy and Mission
The Tokyo Boeki Group aims to be an creative company that allows employees to realize their dreams
through their work. Each employee will take pride in

HTOKYO BOEKI MACHINERY LTD.
TOKYO BOEKI ENGINEERING, LTD.
TOKYO BOEKI MECHANICS LTD.

HEADQUARTERS
Tokyo Boeki Holdings Corporation

Technology, Automobiles and Information Industry GroupTOKYO BOEKI TECHNO-SYSTEM LTD.
T-BICS INC.
TECHNOLOGY T.B. TECH CO., LTD.
TOKYO BOEKI NORTH AMERICA, INC.
TBTS (THAILAND) CO., LTD.
TTS (GUANGZHOU) CO., LTD.

themselves and contribute to the global company.

Medical, Life and Science Industry GroupSCIENCETB-eye LTD.
TOKYO BOEKI MEDISYS INC.
TOKYO BOEKI TECHNOLOGY LTD.
TOKYO BOEKI (RUS) LTD.

Resource, Metal and Materials Industry GroupRESOURCETOKYO BOEKI STEEL & MATERIALS LTD.
TOKYO BOEKI (AUSTRALIA) PTY. LTD.
TOKYO BOEKI (CHINA) LTD.
TOKYO BOEKI (BEIJING) LTD.

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Message to Our Shareholders
We hope that all of our shareholders are doing welland we would like to express my appreciation for yourloyal support.
As the Tokyo Boeki Group (TB-G) began a new fiscal year of the 4th mid-term management plan in April
2015, we renewed our management structure by carrying out a handover to the next generation in order toachieve even greater growth for the Group as a whole.
We will continue to reinforce collaboration between
Tokyo Boeki Holdings Corporation and our businesscorporations and fur ther enhance our specialized
capabilities and business capabilities as we strive tomeet the expectations of our shareholders through thetotal strength of the Group.
We would like to take this oppor tunity to deliver ourcompany’s 95th ter m annual repor t (April 1, 2014 March 31, 2015), as well as to give a brief message
regarding the status of our company.
Regarding the global economy in fiscal year 2014,
although driven by ongoing strong economic expansion in the United States, the economy lacked vigor
overall as China and other emerging economies continued a process of gradually slowing down.
Meanwhile, although the Japanese economy fell
into a second consecutive quarter of negative growthfrom the second quarter reflecting the prolonged impact associated with the consumption tax hike, signsof a moderate recover y were seen from autumn onwards due to positive factors including a relatively favorable employment environment, a drop in the priceof crude oil, and an increase in export caused by yen
depreciation.

Down 5.6%
46,031 million yen (year-on-year)
0.0% change
Operating Income 3,233 million yen (year-on-year)
Down 5.5%
Ordinary Income 3,279 million yen (year-on-year)

Net Sales

Net Income

2,229(Up 3.9%
million yen year-on-year)

Hideya Goami

Toshiaki Ueda

Chairman & CEO

President & COO

Amidst this management environment, TB-G strove
to maximize corporate value and realize continuous
growth and development through the provision of specialized proprietary businesses and services with consistently high standard in areas ranging from marketing
to manufacturing, sales and maintenance for our fourgroups of “Energy Machinery Industry,” “Technology,
Automobiles and Information Industry,” “Medical, Lifeand Science Industry,” and “Resource, Metal and Materials Industry.”
A s a re s u lt, a lth o u gh n e t s a le s fo r th e 95t h t er mwere 46,031 million yen, and ordinar y income was
3,279 million yen, down from the previous fiscal year,
net income reached a record high of 2,229 million yen.
T h is te r m ’s div ide n d a m o u n t w ill be 15 yen p er
stock. Furthermore, in order to celebrate the shift tothe new management structure as we marked the 10thyear since the start of the TB-G Federated Management, a commemorative dividend of 3 yen per stock
will be added to bring the total dividend to 18 yen perstock. This amount realizes the basis of distribution toshareholders in a continuous and stable manner, evenas our company secures the internal funding necessary for active investment in existing businesses andnew businesses.
We would like to express my sincere appreciation to
all our shareholders for your support throughout theyears, and ask for your continued guidance.
June 20152

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Segment Information (Percentage represents ratio of sales)

Business Description

31%

Energy Machinery Industry GroupThe Energy Machinery Industry Group is engaged in development, manufacturing, and sales of fluid loading equipment and related devices, various
kinds of gas-related machinery, power generation-related devices andequipment, environment-related devices and others for the energy-relatedindustries including electric power, gas, oil, and petrochemistry. For fluid
loading machinery, the core product, superior products are offered to users
around the world under the integrated system of manufacturing and sales ofTokyo Boeki Machinery Ltd. and Tokyo Boeki Engineering, LTD., which havegained a high reputation.

Business Condition

14,148 million yen 86% year-on-year
Operating
2,140 million yen 84% year-on-year
IncomeSales

Technology, Automobiles andInformation Industry Group17%

Domestic market share was maintained for loading arms, a core product of
the Company, while government-led safety and disaster Prevention measures acted as a further tailwind spurring capital investment in Emergency
Release System (ERS), leading to an increase in orders and inquiries. We
also focused efforts on overseas orders against the backdrop of yen depreciation, but this was not linked to growth in sales, partly owing to trends among
energy-related companies to postpone or reduce capital investment due tothe impact of a global decline in crude oil prices, and the Group recorded
decreased revenues and profits.

Business Description
3D measurement instruments, the core product, provide integrated measurement and data processing for a series of processes, from development andmodeling to manufacturing, testing and completion, for a variety of products,
mainly contributing to automobile manufacturers in improvements of product development capabilities. 3D measurement instruments have evolved to
become automated, refined and diversified, and have gained a global reputation.

Business Condition

Sales
Operating
Income7,768 million yen 107% year-on-year
1,138 million yen 121% year-on-year

Sales of the core products, 3D measurement-related instruments andsoftware, were boosted by brisk capital-related investment due to favorable
conditions in the automotive industry, the main users. Despite exposure tointensified price competition with competitors in Japan and overseas, sales
expansion efforts that highlighted systems including not only hardware but
also data analysis software resulted in increased revenues and profits for theGroup.

3

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Medical, Life andScience Industry Group

26%

Business Description
The Medical, Life and Science Industry Group is engaged in the development, manufacturing and sales of wide range of products, including equipment and devices for use at home, medical devices, scientific instruments,
OA devices and security devices. In particular, compact automated analyzers
for use in clinical examinations are being sold in 70 countries around theworld and it boasts an outstanding track record in the medical device field.
Going forward, further business opportunities including the enhancement of
our lineup and sales of peripheral devices will be pursued.

Business Condition

12,257 million yen 112% year-on-year
Operating
928 million yen 120% year-on-year
IncomeSales

Resource, Metal andMaterials Industry Group26%

In the security-related business, demand for security cameras expanded
significantly due to the impact of food defense measures stemming fromincidents of food contaminated with toxic substances interfused at food factories. Digital wireless intercoms, our new products, have also been highly
evaluated by users thanks to the addition of new functions. Meanwhile,the scientific instruments-related business inevitably saw a considerable
decrease in profits due to the stagnation in the Russian economy and drop in
the ruble in response to the impact of economic sanctions by Western countries. Nevertheless, revenues and profits increased for the Group as a whole
as a result of robust performance in the security-related business.

Business Description
Under a unique business model, raw materials and auxiliary raw materials
for steel-making, fuel coal and refractory bricks are supplied for use insteel-making (bricks for use in are supplied steel-making) to the steel andenergy industries. In addition, various kinds of steel materials including
steel plates for use in automobiles are indispensable materials for automobile manufacturers. Furthermore, great success has been achieved especiallyin the refractory bricks through a joint venture business in China.

Business Condition

Sales

12,118 million yen 85% year-on-year
145 million yen 121% year-on-year

Operating
IncomeAlthough the materials business struggled as the competitive price advantage of imported refractory bricks weakened due to the impact of yen depreciation, we secured an increase in revenues and profits based on long-lasting
relationships of trust with customers.
On the other hand, revenues and profits declined considerably in the resource and metal businesses due to a drop in resource prices worldwide andthe eased balance between demand and supply for steel materials resulting
from overproduction in China. Although revenues for the Group also decreased substantially, we were able to secure an increase in profits throughcost reduction efforts.

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Close-up
On April 1, 2015, Niigata Loading Systems, Ltd. changed its name to “Tokyo Boeki Engineering, Ltd.”
Also, Tokyo Boeki Medisys Inc. succeeded the business of “Medical Instruments Division” from Tokyo Boeki
Machinery Ltd.

TOKYO BOEKI MACHINERY LTD.
As the “general trading company specializing in business”
playing central role in the Tokyo Boeki Group, “Tokyo Boeki
Machinery Ltd. (TBM)” uses its highly creative expertise,business capabilities, and the binding force of the Group to
develop products of higher quality and added value than conventional products, to propose products by making full useof its marketing ability, and to offer comprehensive service
including thorough after-sales service.

TOKYO BOEKI ENGINEERING, LTD.
Since its establishment, “Tokyo Boeki Engineering, Ltd. (TEN)”
has put quality first in manufacturing loading arms, swivel
joints, and butterfly bulbs, and providing after-sales service
for them, in order to fulfill its obligation to society through itsrole as a stable supplier of energy-related devices.
Taking this name change as an opportunity, we will unite
our employees as one and work towards the development ofour business with a new passion.

Group-Wide Project
Chiksan Integrated Manufacturing and Sales Project“The Chiksan Integrated Manufacturing and Sales Project” isadvancing, centering on loading arm business, the primarybusiness of our Energy Machinery Industry Group, for the
purpose of improving TEN’s manufacturing and technological capabilities and TBM’s sales and business development
capabilities to reach the goal of maximizing both companies’
functionality.
By integrating manufacturing and sales, we aim to achieve
more rapid decision-making and more flexible response tocustomers than ever before.

TOKYO BOEKI MEDISYS INC.
TMS succeeded business of Medical Instruments Division of TBM
Tokyo Boeki Medisys Inc. (TMS) has taken over business of“Medical Instruments Division” from TBM.
Until now, TMS was responsible for development andconsignment of manufacturing of medical-related devices, while TBM was responsible for sales. Through thisbusiness succession, TMS has established an integrated
system in which it conducts development, sales, and after-sales service within TMS.
The collaboration between the sales and service men,
who interact directly with the customers, and the development team will give a significant advantage to TMS that
upholds its policy of “Offering products and service thatsatisfy our customers.”
TMS will take this business succession as a big opportunity to strengthen the foundations of the company andfurther develop its business.

Rapid decision-making
and flexible response tocustomers
TBH

TBM

A platform toconnect
TBM and TEN

TEN

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Consolidated Companies
Domestic Group Companies
TOKYO BOEKI MACHINERY LTD.

President: Hideshige Tsubouchi
Business Description: Sales of fluid loading equipment and related devices, andvarious plant-related devices

TOKYO BOEKI ENGINEERING, LTD.
(Former company name: NIIGATA LOADING SYSTEMS, LTD.)

President: Hiroshi ImaiBusiness Description: Development, design, manufacture, sales, and after-sales
service for fluid loading equipment

TOKYO BOEKI TECHNO-SYSTEM LTD.

President: Katsuhiko Masuda
Business Description: Development, design, and manufacture of 3D measurement
instruments, various measurement devices, various testing
devices, and related software; Sales, import/export, andmaintenance of 3D measurement instruments and related
softwareTB-eye LTD.

Overseas Group Company■ AUSTRALIATOKYO BOEKI (AUSTRALIA) PTY. LTD. (MELBOURNE)

Managing Director: Hiroshi Shigezumi
Business Description: Business development and import/export related to resources,
metals, materials, construction materials and machinery■ CIS

TOKYO BOEKI (RUS) LTD. (MOSCOW)

General Director: Keiji Takigawa
Business Description: Import/export and sales of scientific instruments for educational and science and technology-related facilities in the CIS
nations■ USA

TOKYO BOEKI NORTH AMERICA, INC. (CINCINNATI)

President: Hirohito Mizuhara
Business Description: Sales and service of 3D measurement instruments and related software■ CHINA

President: Tomihiro KatoBusiness Description: Import and sales of CCTV system devices; Development,
manufacture, and sales of CCTV system peripheral devices;
Design, installation, and after-sales service of CCTV system

TOKYO BOEKI (CHINA) LTD. (SHANGHAI)TOKYO BOEKI STEEL & MATERIALS LTD.

TOKYO BOEKI (BEIJING) LTD. (BEIJING)

T-BICS INC.

TTS (GUANGZHOU) CO., LTD. (GUANGZHOU)

President: Hiroshi Shigezumi
Business Description: Business development and import/export related to resources,
metals, and materials
President: Hiromichi SugiuraBusiness Description: Software development and sales, information processing
service business and information providing service business,
non-life insurance agency business, life insurance agency
business, and temporary staffing

TOKYO BOEKI MECHANICS LTD.

President: Koji Nakayama
Business Description: Sales and maintenance of gas-related devices

President: Hiroshi Shigezumi
Business Description: Business development and import/export related to resources,
metals, and materials
President: Hiroshi Shigezumi
Business Description: Business development and import/export related to resources,
metals, and materials
President: Masaaki Sugihara
Business Description: Sales and service of 3D measurement instruments and related software■ THAILAND

TBTS (THAILAND) CO., LTD. (BANGKOK)Managing Director: Katsuhiko Masuda
Business Description: Sales and service of 3D measurement instruments and related
softwareTOKYO BOEKI MEDISYS INC.

President: Hideya Goami
Business Description: Development, manufacture, and sales of automated analyzers used in clinical examinations for hospitals and medical
testing facilities

TOKYO BOEKI TECHNOLOGY LTD.

President: Keiji Takigawa
Business Description: Export trading of scientific instruments for educational andscience and technology-related facilities mainly in the CIS
nations

T.B. TECH CO., LTD.

President: Toshiharu SaburiBusiness Description: Contract development of software and packaged software,building network systems, system outsourcing, consultancy
services, temporary staffing

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Group Topics
Domestic GroupTOKYO BOEKI MACHINERY LTD.

Loading Arm with attached Emergency Release System (ERS) for Owase
Mita Thermal Power Plant of Chubu Electric Power Co., Inc. finishedloading from ship in port
The Company finished renewal work on the old marine loading arms installed nearly 50 years ago in Chubu
Electric Power’s Owase Mita Thermal Power Plant. While updating the aging machinery, because of the very large
24.5 meters tsunami predicted to be capable of striking Owase-shi, Mie Prefecture where the thermal power plant
is located, a proposal to renew the specifications planned for disasters such as earthquakes and tsunamis was
also accepted. In October 2013, the renewal work started with the removal of the existing loading arms, and installation of two “12B RCMA-T-FP (with ERS)” loading arms was completed at the beginning of December 2014.
It handled loading for the first time on December 24 and 25, successfully passed inspection, and met our client’s
expectations.

Energy Machinery Industry Group

Overseas GroupTOKYO BOEKI MACHINERY LTD. (Malaysia Sales Office)Exhibit at Tank Storage Asia 2014
As part of public relations aimed at expanding sales and raising the profile of Japanese-made floating roof
tank-related materials and loading arms in overseas markets, the Company participated in the Tank Storage Asia
exhibition held at the Marina Bay Sands in Singapore on September 24 and 25 of last year. The contents of booths
at this exhibition are focused on tanks and loading equipment for oil, and many users and engineers which are
the Company’s target customers attended the event. The lineup of tank-related materials besides Niigata Chiksan
products has become quite substantial, and there were also visitors at the exhibition from various fields including major oil companies, Middle Eastern and Southeast Asian oil and chemical companies, tank terminal storage
companies, and tank construction companies.

Tank Storage Asia Exhibit Booth

Domestic GroupTOKYO BOEKI ENGINEERING, LTD.

Working towards the spread and promotion of Emergency Release
Systems (ERS) with government guidelines as our tailwind
Learning from the lesson of the Great East Japan Earthquake, the Japan Coast Guard revised its “Guidelines for
Safety and Disaster Prevention Measures” as of March 31, 2014. In order to make stopping loading in an emergency and detaching from the pier or loading arms faster and easier, the Coast Guard reported that it is desirable
to install emergency release devices and others on loading arms. The Company produces Emergency Release
Systems (ERS) for installation on the tip of a loading arm which activates Emergency Release Coupler (ERC) inan emergency to enable safe disconnection of the loading arm from the tanker in a few seconds. In response to
the new guidelines, the Company is developing an ERS that can be installed without major remodeling of existingloading arms.
The photograph on the right is of a loading arm with an ERS installed undergoing an operational test.

Operational test for a loading arm with an ERS installed

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TOKYO BOEKI MECHANICS LTD.

The Company meeting the challenge of creating environment-related
equipment for the next generation
In addition to the core business of sales and maintenance of LPG devices and parts, the Company also handles
odorizer equipment designed and manufactured in-house, and the sale of machinery for the specialty gas industry. Aside from these business interests, the Company is presently engaged in the development of equipment
related to hydrogen energy. In December 2014, the fuel cell vehicle “MIRAI” was made commercially available
by TOYOTA MOTOR. This fuel cell vehicle is considerate of the environment, and does not emit any harmful substances while in operation.
HONDA MOTOR is also planning the commercial release of a new fuel cell vehicle in 2015. In response to thegrowing demand for hydrogen energy, the Company aims to successfully develop equipment for hydrogen stations, and contribute to clean energy in the hydrogen society of the future.

TOKYO BOEKI TECHNO-SYSTEM LTD.

Overseas GroupTOKYO BOEKI TECHNO-SYSTEM UK LTD.

TTS Fukuoka Sales
Office and its members

Technology, Automobiles and Information Industry Group

Domestic GroupA fuel cell vehicle filling up with hydrogen at a hydrogen station

Opening of Fukuoka Sales Office and TOKYO BOEKI TECHNO-SYSTEM
UK LTD.
Domestically, the Company has opened the Fukuoka Sales Office in order to strengthen sales and maintenanceservice in Kyushu. Internationally, the Company has established TOKYO BOEKI TECHNO-SYSTEM UK LTD. (TTSUK) as a local subsidiary in Nottingham, U.K. in place of conventional agencies in order to enhance the Company’s maintenance structure in Europe.
In cooperation with TOKYO BOEKI (RUS) LTD. sales engineers, the Company provides services to cover Europe,
including Turkey, the Czech Republic, and Russia.
The office of U.K. local subsidiary TSS UK

Overseas Group

Energy Machinery Industry Group

Domestic GroupTOKYO BOEKI NORTH AMERICA, INC.

Strategic product, the new Vectoron V6C, is launched
The Vectoron’s new arm model “Vectoron V6C,” developed in collaboration with TOYOTA MOTOR in North America, Europe, and their headquarters in Japan, has been completed and launched to overseas markets. The Company has already received orders from and made deliveries to TOYOTA’s South American local subsidiaries, and has
also received orders from their group companies.
In the future, in addition to sales activities primarily aimed at TOYOTA and other overseas local subsidiaries of
TOYOTA Group companies, the Company is also expanding its sales activities with the aim of securing orders
from other automobile manufacturers.

Portable type of the new Vectoron V6C capable of being moved tosites that require measurement8010_0489002982706.indd

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Group Topics
Overseas Group

TBTS (THAILAND) CO., LTD.

Toward “creation of human resource value,” as the foundation of
corporate development

Technology, Automobiles and Information Industry GroupAs a center of growth for the world, ASEAN aims for integration at the end of fiscal year 2015 (establishment of AEC).
Japanese companies are actively expanding their business to Thailand, which plays a central role in ASEAN and is
expected to fulfill its role as a hub especially in the automotive industry as being backed by its superior infrastructure.
In such a rapidly changing market, an important factor is the ability of each and every employee to respond to andthink. This means not only the ability to perform routine duties, but also to think about what is required of them rightnow, what they can do as individuals to get better results. With the aim of enhancing such ability to go the extra mile,
the Company has started improvement activities that involve all of its employees. The Company believes that it can become a truly powerful company if each of its employees can learn to “love challenges and love improvement” throughthese activities.

Overseas Group

Holding a “Presentation of Improvement Activities” in the Company

TTS (GUANGZHOU) CO., LTD.

Improving One Stop Service
The Company’s main business is the sales of 3D measurement instruments and model milling machines. However, when constructing the Daimler Beijing Design Studio, it received orders not only for machines but also
for flooring work at the same time in order to meet the customer’s desire to “build a beautiful studio.” Typically,studio floors are constructed from concrete, but for this project the Company achieved satisfactory results forthe customer by paving the entire surface of the studio floor with artificial stones. The Company will continue toenhance its “One Stop Service” in which it takes a customer’s various requests single-handedly.

Artificial stone floor that is unprecedented in design studios in China

Domestic Group

T-BICS INC.
Scope of introducing the
new telephone system

Achieving improvement of operational efficiency and dramatic reductionof communication costs through introduction of new telephone system!
In March 2015, the Company installed a new telephone system in the Tokyo Boeki Head Office building and theAtsugi Sales Office of Tokyo Boeki Techno-System Ltd. (TTS), achieving improvement of operational efficiency
and dramatic reduction of communication costs.
1. R eforming the PBX of Tokyo Boeki Head Office building and TTS Atsugi Sales Office into a new model.
2. R ealizing a dramatic cost cutting by reducing communication carriers to only one for the fixed phone line.
3. R educing construction costs associated with moving by switching 70% of phones of the Tokyo Boeki Head
Office building to PHS.
4. S trengthening cooperation with Office365 by replacing mobile phones with smartphones.
The Company will continue to actively introduce new solutions.

PHS Simple Manual

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T.B. TECH CO., LTD.

Exhibited at the 6th “Toyota Business Fair”
From January 14 to 15, 2015, the Company exhibited at the “Toyota Business Fair” held at Sky Hall Toyota. In this exhibition which was organized by Toyota City and the
Toyota Chamber of Commerce and Industry, lecture meetings by TOYOTA MOTOR and DENSO were hosted and the fuel cell vehicle “MIRAI” was on display. (Many visitorsfrom around the world also came, who had attended the “High-Level Symposium on Sustainable Cities” held during the same period in Toyota City). The Company displayed
not only its own products at its exhibition booth, but also demonstrated production with Tokyo Boeki Engineering’s FDM 3D printer “K-ZO,” and gave visitors achance to experience two-way conversation on TB-eye’s Wi-Fi digital wirelessintercom “Clear Talk Cam,” receiving favorable reviews. Through the cooperationof these two TB-G companies, the Company was able to make the new T.B. Techknown to its customers in the Toyota
region.

Website of Toyota Business Fair

Domestic Group

Technology, Automobiles and Information Industry Group

Domestic GroupThe Company’s exhibit booth at the Toyota Business Fair

TB-eye LTD.

This spring, the Company’s sales performance of the previous fiscal year was favorably evaluated, and it was invited to attend the “General Meeting of Asian Region Agencies”
held in Chiang Mai, Thailand.
At the general meeting of agencies, Mr. Kato, President of TB-eye, received an award recognizing top level sales performance not only in the Asian region, but also in theworld, and the Company received many inquiries regarding sales techniques, etc.
and words of praise from agencies around the world.
The Company will continue to maintain its world-class sales force and enhance
its presence globally.

The convivial party held after the conference was a grand affair.

Medical, Life and Science Industry Group

Honored at the General Meeting of Asian Region Agencies sponsored by SAMSUNG TECHWIN

Mr. Kato, President of TB-eye, receiving the award10010_0489002982706.indd

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Group Topics
Domestic GroupTB-eye LTD.

Introducing TB-eye brand products
The surveillance camera system products that the Company sells are mainly introduced from Samsung Techwinof Korea. Samsung Techwin is actively involved in the development of new products of network (IP) cameras andrecorders.
Using this to its advantage, in the domestic market of surveillance camera systems whose growth rate is small
percentage, the Company is proposing changing from analog systems to IP systems that has higher image quality
and performance, and is developing new demand.
In addition, it has built a system to accept OEM supply for TB-eye brand products.
The Company’s future policy is to promote the penetration and sales expansion of the TB-eye brand.
In March, it produced an integrated outdoor and housing IR LED camera as the top model of the brand.

Medical, Life and Science Industry GroupNew product: Weatherproof IR bullet camera, SCO-508 3RN/TE

Domestic GroupTOKYO BOEKI MEDISYS INC.

Entering the final stage of new product development for the automaticbiochemical analyzer
The prototype of the “BiOLiS 30i,” a successor to the main model “BiOLiS 24i” series which boasts a record ofMain model “BiOLiS 24i”
5,900 or more cumulative units sold, has finally been completed, and the Company has entered the final stage ofActive in the medical field of 70 countries worldwide
development.
The Company plans to start sales of a new product with further enhanced functions such as improved processing
speed and increased number of reagents that can be tested at once, while inheriting the key concepts of “compact,high functionality and high quality,” within fiscal year 2015.
By succeeding business of Medical Instruments Division from TBM, the Company is now capable of offering a total service from product development and sales to after-sales service. All employees of the Company will expand
business in unity from the customer’s perspective, and contribute to medicine and people’s health around theCompleted prototype of the new product “BiOLiS 30i”
world.
Scheduled to start sales within fiscal year 2015

Domestic GroupTOKYO BOEKI TECHNOLOGY LTD.

Overseas GroupTOKYO BOEKI (RUS) LTD.

Joint booth exhibited with Moscow State University at the 70th Academic
Meeting of the Japanese Society of Microscopy
Participating in the 70th Academic Meeting of the Japanese Society of Microscopy in cooperation with JEOL andthe University of Tokyo, the Company exhibited a booth about research using electron microscopes in collaboration with Moscow State University.
The Company invited four professors and researchers from Moscow State University to the academic meeting,including Vice-Rector Khokhlov. In Vice-Rector Khokhlov’s special speech at the commemorative reception, hetouched on the Company’s activities with JEOL in Russia. By participating in the academic meeting, the Company
conducted academic and business matching between Japanese and Russian universities and research institutes.
The Company will further evolve its business model for scientific instrument sales centered on Russian state universities which it has developed so far, and expand its business domain.

Joint booth with Moscow State University
at the Academic Meeting of the JapaneseSociety of Microscopy

Talking with Vice-Rector Khokhlov of Moscow
State University (commemorative reception)

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Domestic GroupTOKYO BOEKI STEEL & MATERIALS LTD.

Entered into “Strategic Partnership Agreement” with PT Tira Austenite Tbk of Indonesia
In August 2014, the Company entered into a strategic partnership agreement with PT Tira Austenite Tbk of Indonesia (hereinafter, “Tira”). Tira is a core company of the Indonesian conglomerate Sintesa Group, and is a major
material and equipment trading company handling special steel materials, industrial gas, etc. in the industry. For
the past three years, Tira has worked with the Company’s Jakarta Representative Office to develop the market ofsteel materials aimed at resource, energy-, and infrastructure-related companies. The Company is planning toestablish new business in the future with Tira in Indonesia, and it will work actively to promote strategic partnership relations with the goal of expanding its business there.

TOKYO BOEKI (AUSTRALIA) PTY. LTD.

Concluded a contract for Chinese-made nut coke for an Australian ferroalloy manufacturer
The Company has concluded a contract to supply Chinese-made nut coke to a ferroalloy manufacturer under the umbrella of an Australian major resource corporation group. Having passed the ferroalloy manufacturer’s strict examination of the Company’s delivery record, production facilities, capacity, and supply source of coal, raw material forthe nut coke, the Company concluded a contract for the first 10,000 tons in the previous fiscal year. The Company’s
consistent stance on quality control for all the way from the factory in China to the ferroalloy manufacturer’s warehouse was highly evaluated, and the Company has now been added to the supplier list of the manufacturer, whichuses 120,000 tons of nut coke per year. While working towards stable dealings and increase of share, the Company
also aims to expand supply to other companies in this Australian major resource corporation group.
Overseas Group

Inspection of nut coke at loading port (Lianyungang, China)

TOKYO BOEKI (CHINA) LTD.

Example product: Abrasion
resistant corrugated sleeve

New development of abrasion resistant alumina ceramics products
Abrasion resistant alumina ceramics products are used in parts of plumbing for granules that are prone to abrasion in steel plants, power generation plants, and mining facilities. Until now, ceramics made in Japan dominatedthe Japanese market, but recently the abrasion resistance and precision of shape of Chinese-made alumina ceramics introduced by the Company have been praised, and it has received orders for Chinese-made sleeve parts(piping parts) from power generation plants which value quality of products. Taking this acceptance of orders as
an opportunity, the Company will promote expansion of sales of Chinese-made alumina ceramics in the Japanesemarket.

Overseas Group

Example product: Abrasion
resistant parts

Resource, Metal and Materials Industry Group

Overseas Group

Exchanging the strategic partnership agreement(at the head office of Tokyo Boeki Steel & Materials Ltd.)TOKYO BOEKI (BEIJING) LTD.

First acceptance of order related to a project of coke oven construction in JapanThe Company has received its first order for silica refractory bricks for the regenerator and the combustion
chamber, and refractory precast blocks for the MS/CS door and oven top for steel-making. These are high quality
refractory products from two of China’s leading refractory manufacturers, and their quality has been approved bya major Japanese steel manufacturer. Orders are expected to be constantly received for silica bricks used in hot
repair of coke ovens. The Company has concluded large orders for refractory precast blocks, which are not only
for hot repair but also for new construction. In the future, the Company will focus on expanding sales of refractory
products for steel-making equipment including not only ladles for steelmaking and refractory bricks for converters, but also coke ovens.

Silica refractory bricks for use in coke ovens that have superior
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Financial Review
Financial Highlights■ Net Sales

46,278(Million yen)

46,23644,791

48,780■ Operating Income(Million yen)

46,031

2,995

2,810

3,233

3,233

2013

2014

1,883

2010

2011

2012

2013

■ Ordinary Income

2010(Million yen)

3,470
2,897

2014

3,038

2011

2012

■ Net Income(Million yen)

3,279

2,146

2,229

2013

2014

1,715
1,352

2,022
971

2010

2011

2012

2013

2014

■ Earnings Per Share

2010
(Yen)

2011

■ Total Assets / Net Assets
Total Assets

426.61402.73

2012

28,974(Million yen)

Net Assets

28,193

28,832

31,03132,455340.99260.47

16,913180.76

9,812

2010

2011

2012

2013

2014

2010

10,9232011

19,43913,074

2012

2013

2014

13

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Consolidated Financial Statements■ Consolidated Balance Sheets
Account Item

(Million yen)

2014

2013

As of March 31, 2015

As of March 31, 2014

Assets■ Consolidated Statements of Income
Account Item

(Million yen)

2014

2013

April 1, 2014 –March 31, 2015

April 1, 2013 –March 31, 2014

Net sales

46,031

48,780Current assets

25,15723,965

Cost of sales

33,63036,266

Non-current assets

7,298

7,066

Gross profit

12,401

12,514

2,393

2,367

Selling, general & administrative expenses

9,167

9,280

585

779

Operating income

3,233

3,233

4,319

3,918

Non-operating income

217

275

32,45531,031Non-operating expenses

172

39

3,279

3,470

Property, plant and equipment
Intangible assets
Investments and other assets
Total assets

Ordinary income

Liabilities

Current liabilities

11,885

11,973Extraordinary income

70

331

Non-current liabilities

1,129

2,144

Extraordinary loss

42

43

Total liabilities

13,015

14,118

Income before income taxes

3,307

3,757

Income taxes

1,053

1,579

Net assets

Shareholders’ equity

18,481

16,541

Income before minority interests

2,254

2,177

Capital stock

5,000

5,000

Minority interests in income

24

31

Retained earnings

13,673

11,733

Net income

2,229

2,146

(191)

(191)

Accumulated other comprehensive income

801

259

Minority interests

156

112

Total net assets

19,43916,913

Total liabilities and net assets

32,45531,031

Treasury stock

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