TOKYO BOEKI GROUP

Annual Report
April 1, 2022

March 31, 2023

Challenge the Futureof the World withManagement by All

To Our Shareholders

Tokyo Boeki Group Management Axis
Core ValueThe Spirit of Management Participated by All(Founding Spirit)
Philosophy

Tokyo Boeki Group will be a groupwhere all group employees participate
in management from their own
standpoints under a free and vigorous
culture, always contributing to
the sustainable development of society,and the success of our customers,
being recognized as a necessary part ofsociety, and appreciated by our customers.
We will be a group in which employees feel
happy and proud by working in such a group.
Purpose-Contribute to the development of a sustainable society (SDGs)-Pursue the happiness, both materially and spiritually, of Tokyo
Boeki Group employees.

Top Message
Effective June 28, 2023, I resigned as Chairman of
the Board and assumed the position of Director andSenior Advisor to the Board. I would like to thank all of
our stakeholders for your warm guidance and support
during my tenure as Chairman.
Under the new management structure, we haveformulated a “management axis” that will serve as thecore of all employees for the future. At the center isthe Core Value, “the spirit of management participatedby all”, that has been advocated since the company’s
founding, and Philosophy follows. the Purpose andVision appear on top of the accumulation of Core
Value and Philosophy. We aim to foster a competitive
corporate culture while upholding “employee
happiness” and “recognition by society”. The groupcompanies will also take this management axis
as a higher concept, and will challenge and growtogether under their own management philosophy.
We are committed to fulfilling our responsibility as acompany group to provide you with safe and secure,economic, and social activities and living under a freeand vigorous culture. We sincerely appreciate yourcontinued support.

Sanshiro
Katoh

Director andSenior Advisor to the Board

I am very pleased to report to you that we haveachieved another increase in sales and profit thisfiscal year. This result was made possible by the
support and cooperation of many people, along withthe efforts of all Group employees. We thank you fromthe bottom of our hearts.
The world is changing rapidly, experiencing theCovid-19 and geopolitical risks, and new lifestyles
and values are emerging. We will respond to thesechanges with our employees working together underthe management axis. We will also make a significant
contribution to society by allowing our employees
to work and grow with autonomy under a free andvigorous corporate culture.
We a re p l e a s e d t o w e l c o m e B a n s h u E l e c t r i c
Equipment Co., Ltd. as a new member of our group.
We will continue to utilize M&A and other means tobuild a stronger corporate group. We appreciate yourcontinued support and cooperation.

Hideshige
Tsubouchi

President andRepresentative Director

Vision-A group that maintains a balanced business portfolio (multiple growth businesses) to respond to changes in society.
-A group with a free and vigorous corporate culture that can challenge innovation and talk about dreams.
-A group that contributes to the development of society and the success of our customers, is recognized as a necessary partof society, and makes all employees proud of.
1

TOKYO BOEKI GROUPTOKYO BOEKI GROUP

2

Segment Information (Percentage represents ratio of sales)
Business Description

38%

Energy Machinery Industry Group

13,814 million yen (+17.2% YOY)
Operating income
2,146 million yen (+78.2% YOY)

Net sales

The group develops, manufactures, and sells loading arms, which are vital to loading/unloading of fluids and gases, and related equipment, various gas-related machinery,
power generation-related equipment & devices, and environment-related equipment
for energy-related industries such as electric power, gas, petroleum, and petrochemicals. The group’s main product, loading arm has earned a solid reputation by providing users around the world with superior products based on an integrated production
and sales system.

Business Conditions

40%

Medical, Life and Science
Industry Group

14,356 million yen (+2.9% YOY)
Operating income
1,914 million yen (-16.0% YOY)

Net sales

As the energy industry undergoes a major global transition to a decarbonized society,there is a need for a shift to hydrogen energy and renewable energy. In addition, in
response to the significant rise in the prices of fossil fuels and materials, our mainstay
loading arm business is strengthening and promoting expansion into overseas markets to compensate for the shrinkage of the domestic market.
Under such circumstances, in the current consolidated fiscal year, while exportsof loading arms to overseas markets fell sharply due to the situation in Ukraine, thiswas offset by an increase in domestic loading arm repair work and joint and valve
transactions, and the group achieved increases in both sales and profit.

19%

Technology, Automobiles andInformation Industry GroupNet sales
Operating income

3TOKYO BOEKI GROUP

6,761 million yen (+12.8% YOY)
628 million yen (+6.5% YOY)

Business Conditions
Through proposals of automated solutions by 3D measurement, the group was able
to capture increased investment in the automotive industry in line with the recovery ineconomic activity, resulting in an increase in revenue. In addition, we are continuing
our efforts in the construction industry, which we have been developing as a newcustomer segment. In addition, the group aggressively invested in marketing activities
and human resource development to cope with post-Covid-19 circumstances in thecurrent fiscal year, but in the end, the group secured increases in both sales andprofit.

Business Conditions
In the mainstay security-related business, sales remained steady due to larger projects andthe acquisition of new solution projects incorporating TAS (TB-eye AI Solution). On the other
hand, higher domestic purchase costs, higher import purchase costs due to the weaker yen,higher labor costs, outsourcing costs, and new product development costs resulted in higher
sales and lower earnings for the group in the end.

Business Description
The group proposes and provides solutions to improve productivity by integrating datacollected from coordinate measuring machines and knowledge and know-how accumulated at manufacturing sites and related software and IoT products. We are agroup of engineering experts who contribute to the construction of smart manufacturing for our customers.

Business Description
The group develops, manufactures, and sells a wide variety of products, including security,
medical, and science equipment. In particular, in the security business, we provide the domestic market with security equipment, mainly surveillance cameras made overseas, with an
integrated service of strict quality control, on-site surveys, system design, proposals andestimates, installation, repair, and maintenance. In the medical equipment field, we also
boast an excellent track record, with compact automatic clinical analyzers sold in approximately 80 countries and regions around the world.

3%

Materials, Resource andMetal Industry Group

1,049 million yen (+12.5% YOY)
Operating income
453 million yen (+23.4% YOY)

Net sales

Business Description
In the materials-related business, the group provides a stable supply of refractories developed and manufactured by our joint venture company in China to the steel industry and offer
total services, including after-sales service. In the steel-related business, we supply various
products, including high-grade steel, mainly to the Southeast Asian market based on customer needs, while promoting to build our business. We are also developing a digital solution
business for the steel industry to solve issues such as decarbonization, energy saving, anddigitalization. And in the area of resources, we procure and supply mainly steel raw materials
and equipment from overseas.

Business Conditions
Although steel production continued to be adjusted due to the global decline in steel demand, and the use of refractory materials decreased due to the shutdown of operations bymajor customers for blast furnace refurbishment, the materials business performed solidly
due to higher raw material prices, which drove up sales prices.
On the other hand, in the steel business, the export of automotive steel products to India
was firm, but the construction steel plates to Vietnam struggled due to deteriorating market
conditions. As a result, the group achieved increases in both sales and profit, as the materials business compensated for the difficult conditions in the steel business.

TOKYO BOEKI GROUP

4

CLOSE-UP

Tokyo Boeki Group and Sustainability

Presentation on Loading Arm for Liquefied Hydrogen at “SIGTTO - Regional Panel”

Sustainable growth ofsociety and the company
For Tokyo Boeki Group, sustainability is
included in “Tokyo Boeki Group’s Management
Axis”. We aim a sustainable development ofsociety and our group under Purpose, which
declares “Contribute to the development of asustainable society (SDGs)” and “Pursue thehappiness, both materially and spiritually ofGroup employees”.
Tokyo Boeki Group celebrated its 75th
anniversary in 2022. Since its establishment,
the Group has been committed to contributing
to the society through its business activities. At
the time of foundation, we addressed the foodsecurity and supply, supported people’s life inJapan while expanding the business base,transforming it into a strength of the Group,
and achieved the today’s development bycontinuously providing answers to the social
challenges.
Currently, Tokyo Boeki Group has a total of
16 companies (as of June 28, 2023). Eachcompany is aware of the importance ofsustainable social development and making
various efforts to achieve “The Sustainable
Development Goals” adopted by the United
Nations General Assembly on September 25,
2015.
We will maximize our effort to “Contributeto the development of a sustainable society”
and “Pursue the happiness, both materiallyand spiritually of Group employees”, whichforms significant parts of our “Management
Axis” and are committed to meeting yourexpectations to realize prosperous future. We
appreciate your understanding and continuous
support.
5

TOKYO BOEKI GROUPTB Global Technologies Ltd. (TBG)
The world’s first liquefied hydrogen loading arm was presented at the SIGTTO (Society of International
Gas Tanker and Terminal Operators) - Regional Panel held in Singapore in November 2022. TBG iscontributing to the realization of a hydrogen society as a clean energy source.

TOKYO BOEKI MATERIALS LTD. (TML)
Sales Agreement Signed for Scrap Iron AI Judging System
TML has signed an exclusive distributorship agreement for Japan for the scrap
iron AI judging system with the largest
corporate cloud service provider in China,
Yonyou. The steel industry is known to be
the largest emitter of carbon dioxide of theapproximately 1.2 billion tons emitted
annually in Japan. Various technological needs are emerging worldwide
to solve carbon neutral issues, and the conversion from blast furnace toelectric furnace is one of them, which is expected to significantly expand
the use of scrap iron in the future. By offering this system to the Japanesemarket, we will contribute to the realization of a carbon-neutral society.

TOKYO BOEKI TECHNO-SYSTEM LTD. (TTS)
Contributed to winning Group Award at Hometown Creation Grand Prize by
Department of Industrial Design, Wakayama Technical High School
Wakayama Technical High School received the “Group
Prize” in the “2022 Hometown Creation Grand Prize”
sponsored by the Ministry of Internal Affairs andCommunications for the creation of a “substituteBuddha statue”, which aimed to protect cultural
assets. The students utilized TTS’s non-contact 3D
scanner “FLARE”. TTS will boldly take on thechallenges of customers and markets, solve them,and contribute to a sustainable society.

Tokyo Boeki Holdings Corporation (TBH)
Strengthened employee support system by introducing
an industrial physician and occupational health nurses
TBH is restructuring our health management system, including the introduction of
an industrial physician and occupational
health nurses who can conduct online
health interviews with all Group employees. TBH continues to pursue employee
happiness and sustainable company
growth by revitalizing human capital andpromoting “health management”.

TOKYO BOEKI MECHANICS LTD. (TMX)
Started sales of water heat source temperature controller “Demand-kun”“Demand-kun” is a heating and cooling auxiliary device designed for use in factories, gymnasiums,
parking lots, etc. Water is supplied by well water, tap water, chiller water, or other efficient methods
depending on the installation environment, and a large air volume fan reduces temperature andhumidity. Warm air output is also possible by using cooling tower water. This product enables areduction in air conditioning use, eliminates waste heat, and greatly contributes to CO2 reduction.

TOKYO BOEKI GROUP

6

GROUP TOPICSTB Global Technologies Ltd.

Domestic GroupWorld’s first! Completed operational demonstration of steel pipe-type loading arm for liquefied hydrogen

TOKYO BOEKI MECHANICS LTD.

Energy Machinery Industry Group

Domestic Group

Developed additional functions for odor addition monitoring system

TB Global Technologies Ltd.(TBG) has long been engaged in the manufacture, sale, and after-sales service of loading

Tokyo Boeki Mechanics Ltd. (TMX) is developing additional functions for the “odor-adding monitoring system” to in-arms (“LA”), which is used to handle fluid energy such as oil, LPG, and LNG, and has been expanding its business bothcrease value to the odor-adding equipment, one of the main products of TMX. Since city gas (liquefied natural gas) is

in Japan and overseas.

odorless, its operators are legally required to add an odor to the gas when supplying it to households for the purpose of

Currently, TBG is challenging the world’s first technology to realize a carbon-neutral hydrogen society. As hydrogenhazard prediction. Traditionally, the addition is visually checked, but sometimes human errors can leave the gas odorless.

can be produced from a variety of resources, it can reduce risks in energy supply and procurement. In addition, by

TMX will continue to contribute to a safe, secure, and stable gas supply by systematically preventing such odorlesscombining water electrolysis with renewable energy and fossil fuel and carbon dioxide storage and reuse technologies,

conditions and promoting the digitalization of maintenance management.

it can be used as a carbon-free energy source. To achieve carbon neutrality, a large amount of hydrogen is needed, andMonitoring screen of odor-addition

its liquefaction is essential.
When liquefied, hydrogen can be reduced to 1/800th of its volume, and large volumes can be transported efficiently. However, liquefied hydrogen is a difficult fluid to handle at -253°C, which is much lower than the -162°C of LNG. TBG
Domestic Group

succeeded in developing a hose-type LA. In February 2023, TBG successfully completed a loading and unloading
demonstration of a steel pipe-type LA (diameter: 6B), achieving a world first. TBG will continue to develop and commer-

TOKYO BOEKI TECHNO-SYSTEM LTD.

Released new product “AQROS-Scan”

cialize solutions that will play a role in realizing a carbon-neutral society for the next generation.

Steel pipe-type loading arm for liquefied hydrogen in connection
with a tanker

Tokyo Boeki Techno Systems Ltd. (TTS) released the high-precision 3D handheld scanner “AQROSScan” in June 2022.
AQROS-Scan is an innovative, high precision 3D handheld scanner that is compact, portable, and can measure

Loading Arm

wireless using a battery.

Loading Arm

Among the high-precision 3D scanners offered by TTS, this scanner is particularly portable and can be used for easy

LiquefiedHydrogenHydrogen Production
Handling
and Storage
Producing Country

on-site scanning at any location. Its dedicated environment eliminates the need for target markers on the object to bemeasured, which is conventionally essential for high-precision measurement, and significantly reduces man-hours,
Handling

StorageJapan

TB Global Technologies Ltd.

HydrogenUtilization

contributing to improved productivity for all customers involved in manufacturing sites. In the first year of sales, manycustomers, including automobile manufacturers, have adopted the product. We will continue to aggressively expand
sales of this product as one of TTS’s mainstay products.

Domestic GroupTOKYO BOEKI MATERIALS LTD.

Extended Joint Venture Agreement for JINAN LUDONG REFRACTORY CO., LTD.

Exhibited at Gastech 2022
From September 5th to 8th , 2022, TBG exhibited at Gastech 2022 in Milan, Italy. Gastech now in its 30th year, is one

Since 1995, the Materials Division of Tokyo Boeki Materials Ltd. (TML) has been supplying magnesium-carbonate bricksof the world’s largest international conferences and exhibitions on natural gas and LNG. It is a huge event that brings

manufactured by Jinan Ludong Refractory Co., Ltd., which is a joint venture formed with the three investors including

together more than 40,000 energy professionals from over 60 countries around the world. At the exhibition, TBG showed

TML and the investors have now extended the management period of this joint venture.

a PR video about its mainstay loading arm products in Japan and overseas, as well as its development products, andIn September 2022, Jinan Ludong Refractories received a letter of appreciation from a major customer for its suc-publicized them to the world. TBG will continue to provide innovative products and solutions that adapt to the times andcess in securing refractory raw materials and achieving a stable supply of magnesium-carbonate bricks through thecontribute to a sustainable society.

Covid-19 disaster and various other difficulties from 2020 to 2022. In order to continue to expand the volume of products for the Japanese market, TML will improve the competitiveness of products in terms of quality and price and acExhibition at Gastech 2022

TOKYO BOEKI GROUPAQROS-Scan U

Checking magnesium-carbonate bricks in the form of temporary
assembly before shipping-out

Materials, Resource and Metal Industry Group

Domestic Group7

Technology, Automobiles and Information Industry Group

Energy Machinery Industry Groupbegan joint development with Kawasaki Heavy Industries, Ltd. in FY2014 of LA for liquefied hydrogen and in FY2021

tively participate in management.
TOKYO BOEKI GROUP

8

Domestic GroupTB-eye Ltd.

Domestic Group

Released “TAS CUBE,” the smallest product in the TAS series

tb innovations LTD.

Invested in startups to realize growth strategy of the GroupIn October 2022, TB-eye Ltd. (TBE) released the palm-sized “TAS CUBE,” the smallest product in the TAS series. TAS

Through its CVC fund, tb innovations Ltd. (TIT) invested in three startups in the three areas of mobility, AI, and 3D data

(TB-eye AI Solution) is an AI-based image analysis system developed by TBE, which detects car license plates, faces,

analysis in FY2022, bringing its total investments to nine companies. These startups are considered to create new busi-

and people from security camera images and performs AI analysis to provide information needed by customers. In ad-

nesses or develop existing businesses of the Tokyo Boeki Group, and are expected to grow in the future. TIT will promote

dition to enhanced security, the system is equipped with face/vehicle number authentication, counting and graphing

open innovation with these startups to expand the Group’s business and increase added value through the sharing offunctions, making it easier to use for marketing activities. It can also be used to reduce labor costs, and solve a variety

technologies and ideas. At the same time, through this investment, the Tokyo Boeki Group aims to promote the growth ofof other issues. As an organizer of comprehensive security systems, TBE will continue to contribute to solving our cus-startups and build a win-win relationship with each other by utilizing its network and resources. TIT will realize the Group’s

tomers’ problems.

TAS CUBE usage: sending notice when detecting registered vehicles

growth strategy, transform its business portfolio, and contribute to the realization of an affluent society.
Cycle of co-creation: To realize open innovation

Medical, Life and Science Industry Group

Domestic GroupTB-eye Ltd.

Domestic Group

Joined and donated to the Carbon Recycling Fund

Released 4-inch face recognition reader, “UFT-2040F4”
In November 2022, TBE released the 4-inch Face Recognition Reader UFT2040F4, a security system based on facialrecognition of two persons. It is equipped with functions such as combined face and IC card authentication and two-per-

Vault

Server room

Tokyo Boeki Holdings Corporation (TBH) joined the Carbon Recycle Fund Institute, a general incorporated association, in
May 2022 and donated to its PR fund. The association was established on August 30, 2019 with the idea of promoting

son authentication, whereby the door is unlocked by two registered persons verifying consecutively. It is ideal for accesscarbon recycling innovation by viewing CO2 as a resource, based on the belief that reducing global CO2 emissions oncontrol in vaults, server rooms, or any other site requiring a high level of security. By integrating with TBE’s VIZOLiA se-a global scale is important and cannot be solved by conventional regulatory measures alone, and that improving accesscurity camera brand, live and recorded security camera images and access logs can be viewed and managed on theto energy is a major challenge, as approximately 1 billion people worldwide do not have access to the benefits of elec-

same platform, significantly reducing the workload of administrators. TBE is committed to providing better quality secu-

tricity. By joining and donating to the fund, TBH will support the PR efforts to raise awareness of carbon recycling andrity equipment and services to provide safety and security to society.

Factory

Medical facility

help solve the global warming problem and improve energy access around the world at the same time.

Locations where UFT2040F4 can be used

Domestic GroupTOKYO BOEKI MEDISYS INC.

Domestic Group

Exhibited at JACLaS EXPO 2022 in Kobe

Tokyo Boeki Holdings Corporation

Co-sponsored the 3rd Intellectual Property Creation Practice Koshien 2022

Tokyo Boeki Medisys Inc. (TMS) exhibited at JACLaS EXPO 2022 in Kobe from October 7th to 9th , 2022. JACLaS is one

TBH cosponsored the 3rd National Intellectual Property Creation Practice Koshien 2022 hosted by the Intellectual Prop-of the largest exhibitions in Japan for manufacturers of medical devices, testing systems, and reagents, and attracts

erty Center, University Research Promotion Organization, Yamaguchi University, on January 28, 2023. Since the firstmany healthcare professionals and distributors involved in clinical testing. This time, in addition to customers in theconference in 2020, the conference has emphasized the perspective of the intellectual creation cycle, with the aim ofwestern Japan area, we could see customers who were not able to come last time and explain about the products oncontributing to the resolution of the issues. The Group company,TB Global Technologies Ltd., provided CoRoCo, a coop-display.

erative robot that helps improve logistics and transport operations safely and securely, as educational material for the

In addition to the mainstay product, BIOLIS 30i, additional functions (such as Xbar-R control chart in accuracy con-

Corporate Issues Category. Among the presentations, Ube Technical High School won the “Tokyo Boeki Group Award” fortrol) were introduced at the Medisys Link exhibit. TMS will continue to strive to contribute to the health of people aroundthe world and to the creation of a happy future that extends beyond that.

9Tokyo Boeki Holdings Corporation

TOKYO BOEKI GROUP

its three teams’ numerous proposals for specific improvements to the current CoRoCo and ideas of new use. TBH will
Exhibition at JACLaS EXPO 2022

continue to support educational activities for the younger generation.

Notice of the 3rd Intellectual Property Creation
Practice Koshien 2022

TOKYO BOEKI GROUP

10

Introduction of Group Companies

CONSOLIDATED COMPANIESTokyo Boeki Holdings Corporation completed acquisition ofshares of Banshu Electric Equipment Co., Ltd.
Tokyo Boeki Holdings completed the acquisition of all outstanding shares of Banshu Electric Equipment Co., Ltd. andwelcomed it to the Group together with PT. BANSHU ELECTRIC INDONESIA, its manufacturing base in Indonesia.
As of the same date, the company name was changed to TB Banshu Electric Equipment Co., Ltd.(hereafter BEE)

Domestic Group Companies
TB-eye Ltd.

USA

President: Shokichi Ishimura
Business Description: Import, development, manufacturing, sales, design,
installation, and after-sales service of security equipment
Development and sales of various solutions utilizing AI andimage analysis technologies
Development, manufacturing, and sales of various
communication devices including intercoms
E-commerce business

TOKYO BOEKI NORTH AMERICA, INC. (Kentucky)

TB Global Technologies Ltd.

President: Masaaki Sugihara
Business Description: Materials, resources, steel business and new businessPresident: Laurent Poidevin
Business Description: D evelopment, design, manufacturing, sales, and after-sales
service of energy-related equipment and machinery, including
loading arm.
Development of new robotics and energy-related businesses
Export and import of scientific and industrial equipment, etc.

BEE has two factories in Japan and the other two factories in Indonesia, andis engaged in the manufacture and sale of wire harnesses used in
motorcycles, construction machinery and other equipment. Strong in
producing high-quality wire harnesses, it has a firm business base withleading customers in Japan and overseas. Its main customers are
manufacturers of construction machine in Japan and motorcycles inIndonesia and both markets are expected grow steadily. Also BEE has ajoint venture company to expand into India, which is expected to develop
rapidly.

Overseas Group Companies

TOKYO BOEKI TECHNO-SYSTEM LTD.
President: Hirohito Mizuhara
Business Description: D esign, development, manufacturing, sales, import/export,
and services of coordinate measuring equipment (including
CNC automatic measuring machines, non-contact measuringmachines, measuring robots, etc.),specialized machines formodel processing, and related software (design, inspection,
analysis, data processing), etc.

President: Yasunori Inoyama
Business Description: Sales and service of coordinate measuring machine andrelated software

CHINA

TOKYO BOEKI (CHINA) LTD. (Shanghai)

development in China

TTS (GUANGZHOU) CO., LTD. (Guangzhou)
President: Yukimasa Kuramochi
Business Description: Sales and service of coordinate measuring machine andrelated software

THAILANDTBTS (THAILAND) CO.,LTD. (Bangkok)
President: Taro Nakazato
Business Description: Sales and service of coordinate measuring machine andrelated software

TOKYO BOEKI MATERIALS LTD.

With this acquisition, Tokyo Boeki Group is expected to further develop
by leveraging each other’s strengths in the wire harness business, which isindispensable for the development of a mobility society.

President: Hiroshi Shigezumi
Business Description: M aterials business (development, procurement, sales andafter-sales service of refractory materials)
Steel business (procurement and sales of thin&thick steel
sheets, stainless steel, wire rods, etc.)
Resources & raw materials business (procurement and salesof steel raw materials, equipment and materials)
Digital solution business (problem solving mainly for steel
manufacturers)* A wire harness is a bundle of multiple wires (like blood vessels in a human being. Very complex and delicate.) running
through vehicles such as automobiles, motorcycles, and construction machinery to supply power and signal
communication.

Company overview

Company overview

Name:
TB Banshu Electric Equipment Co., Ltd.
President: Akihiko Yoneda
25-1 Nishitani, Hiraoka-cho, Kakogawa City,
Address:	
Hyogo Prefecture
Established: July 1965
Business:	
Manufacture and sale of wire harnesses ofvarious types

PT. BANSHU ELECTRIC INDONESIA
Name:President: Akihiko Yoneda
M-GOLD TOWER FL-18, JL. KH. NOER ALI
Address:	
BEKASI SELATAN 17148, JAWA BARATINDONESIA
Established: September 1996
Business:	
Manufacture and sale of wire harnesses ofvarious types

TOKYO BOEKI MECHANICS LTD.

CISTOKYO BOEKI EURASIA LLC (Moscow)
President: Keiji Takigawa
Business Description: Sales of industrial and scientific equipment to CIS nations

INDONESIA

PT. BANSHU ELECTRIC INDONESIA
President: Akihiko Yoneda
Business Description: Manufacturing and sales of wire harnesses of various types

President: Takeyoshi Misu
Business Description: D esign, development, manufacturing, sales and after-service(maintenance) of gas related equipment

tb innovations LTD.
President: Hyunmin Go
Business Description: S trategic investment (corporate venture capital), consulting
and new business development

TOKYO BOEKI MEDISYS INC.
President: Shigeru Moriyama
Business Description: D evelopment, manufacturing and sales of automatedbiochemical analyzers
Development and sales of clinical testing systems

TB Banshu Electric Equipment Co., Ltd.
President: Akihiko Yoneda
Business Description: Manufacturing and sales of wire harnesses of various types
BEE head office

11TOKYO BOEKI GROUP

BEE Akashi factory

Factory in Indonesia

Producing wire harnesses

As of June 28th 2023
TOKYO BOEKI GROUP

12

FINANCIAL REVIEW
Financial Highlights

Consolidated Financial Statements

Net Sales
44,072(Million yen)

47,091

Operating Income(Million yen)

Consolidated Balance Sheets
Account Item

5,178

42,29932,586

4,169

35,883

3,797

3,581

3,136

2019

2020

2021

2022

2018

2019

2020

2021

2022

Note: Effective from the 102nd fiscal year, the Company has adopted the Accounting Standard for Revenue Recognition,
etc.The transaction volume according to the previous accounting standard is 45,317 million yen in the 102nd
fiscal year and 46,095 million yen in the 103rd fiscal year.

Ordinary Income(Million yen)

Net Income Attributable to Owners of Parent(Million yen)

3,756

4,410

4,181

3,395

2,994
3,527

3,706
1,946

2020

2021

2022

Earnings Per Share

2018
(Yen)

2019

795

653
408

2018

13

TOKYO BOEKI GROUP

2019

2020

2021

40,758

2022

2022

2018

(Million yen)

Net Assets

42,972

27,322509

2021

42,05730,542

2019

44,64432,1392020

47,12434,5632021

35,7702022

Net sales

35,88332,586

19,987

17,749Non-current assets

9,730

9,677

Gross profit

15,895

14,837

3,101

3,298

Selling, general & administrative expenses

12,314

11,700457

569

Operating income

3,581

3,136

6,171

5,809

Non-operating income

364

511

47,12444,644Non-operating expenses

239

120

Ordinary income

3,706

3,527

Extraordinary income

1,571

—

286

284

Income before income taxes

4,990

3,243

Income taxes

1,593

1,044

3,396

2,198

Intangible assets
Investments and other assets

Liabilities

Non-current liabilities

Total Assets / Net Assets
Total Assets

832

2020

2021
April 1, 2021 –March 31, 2022

Cost of sales

10,542

9,435

811

645

11,354

10,081

Net assets
2019

2022
April 1, 2022 –March 31, 2023

34,967

Total liabilities
2018

Account Item

(Million yen)

37,393Current liabilities

2,197

2021
As of March 31, 2022

Consolidated Statements of Income

Current assets

Total assets

5,338

2022
As of March 31, 2023

AssetsProperty, plant and equipment
2018(Million yen)

Extraordinary loss

34,301

32,947

Net income

Capital stock

5,000

5,000

Net income attributable to non-controlling interests

10

Retained earnings

29,86528,512

Net income attributable to owners of parent

3,395

2,197

Treasury stock

△ 564

△ 564

Accumulated other comprehensive income

1,259

1,427

Non-controlling interests

209

188

Total net assets

35,77034,563

Total liabilities and net assets

47,12444,644

Shareholders’ equity(Note) Amounts have been rounded down to the nearest whole unit.

TOKYO BOEKI GROUP

14

COMPANY OUTLINE / STOCK INFORMATION
Company Outline (As of March 31, 2023)

Stock Information (As of March 31, 2023)

Tokyo Boeki GroupTokyo Boeki Holdings Corporationand 14 group companies
15 companies in total

Total Number of Authorized Shares
Total Number of Stocks Issued

Established

October 30, 1947

Number of Shareholders

Capital Stock

5.0 billion yen(Shareholders’ equity: 34.3 billion yen)

Tokyo Boeki Employee Share Holding Commission

743,000 shares

17.36%

Employees

966Tokyo Marine & Nichido Fire Insurance Co., Ltd.

423,000 shares

9.88%

Tokyo Boeki Holdings Corporation
KYOBASHI EDOGRAND
2-2-1 Kyobashi, Chuo-Ku, Tokyo
104-0031 JapanThe Toa Reinsurance Company, Limited

408,000 shares

9.53%

MUFG Bank, Ltd.

211,000 shares

4.93%

Nippon Life Insurance Company

120,000 shares

2.80%

Resona Bank, Limited

102,000 shares

2.38%

Head Office(Pure holding company)

Name of Shareholder

Executives of Tokyo Boeki Holdings Corporation (As of June 28, 2023)
Board of Directors
President and Representative Director

Hideshige Tsubouchi

Executive Vice President and Director

Hiroshi Shigezumi

Director

Shingo Nakagawa

Director and Senior Advisor to the Board

Sanshiro Katoh

Outside Director

Seiji Sato
Hideyuki Kikuchi

Outside Corporate Auditor

Miho Numata

Outside Corporate Auditor

Kenji Sakurai

Numbers ofRatio of
Stocks Held Shareholding

Our Group Website
A variety of contents are available on the website, including thelatest news of the Group and an introduction to our business.

Auditors
Full-time Corporate Auditor

38,519,920 shares
Common Stock 4,281,140 shares(Excludes treasury stock)
124

TOKYO BOEKI GROUPKYOBASHI EDOGRAND, 2-2-1 Kyobashi, Chuo-ku, Tokyo 104-0031 Japan
TEL: +81-3-6841-8300 FAX: +81-3-6841-8388

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