“Imagination & Creation, Tokyo Boeki”

TOKYO BOEKI GROUP
Annual Report
April 1, 2021 – March 31, 2022

Top Message

Chairman and
Representative Director

Sanshiro Katoh

1

TOKYO BOEKI GROUP

President andRepresentative Director

Hideshige Tsubouchi

Under a new leadership, we will reestablish a new corporate culture andreturn to a growth trajectory.
Effective June 24, 2022, I resigned from the position of President and Representative Director, and assumed the position of
Chairman and Representative Director. I would like to thank all of our stakeholders for their warm guidance and support during
my tenure as President.
When I assumed the position of President five years ago, I had a dream that I wished to realize. I wanted to restore the “lively
atmosphere” that existed when I joined the company in 1969. I have been working on various measures based on the belief that“growth” is the result of realizing a “lively atmosphere”.
Although we are halfway to achieving this dream, we have decided to entrust the next generation with this task, recognizingthat now is the right time for the transition to a new management structure. I hope that my successor, President Tsubouchi, willrebuild the culture of the Tokyo Boeki Group, which is cheerful, honest, smart, and tough.

Sanshiro Katoh

Chairman and Representative Director

As the top management, I will vigorously promote the Tokyo Boeki Group’s
growth strategy.
I am Mr. Tsubouchi, and I have succeeded Chairman Katoh as President and Representative Director. I would like to extend mysincere greetings to all stakeholders upon assuming this position.
I have taken the helm of the Tokyo Boeki Group at a time of heightened uncertainty, when conventional wisdom and values
are no longer applicable. I am acutely aware of the weight of my responsibility, and I am humbled by it.
My mission as president is nothing less than to accelerate the restructuring of the corporate culture that Chairman Katoh
promoted during his presidency and to realize the sustainable growth of the Tokyo Boeki Group. In order to accomplish thismission, I will work to improve transparency by taking concrete measures and proactively disseminating information bothinternally and externally. We appreciate your continued support and guidance.

Hideshige Tsubouchi

President and Representative Director

Management Philosophy
Each one of us at Tokyo Boeki Group takes pride in our work,builds a creative company where we can realize our dreams,
and contributes to the realization and continuation of a better society.

TOKYO BOEKI GROUP

2

Top Interview

As a business-imagination&creation-oriented trading company,
Tokyo Boeki Group aims to make a leap forward based on“deepening existing businesses” and “creating new businesses”.
Tokyo Boeki Group has strengthened its business structureby shifting from an intermediary business at the time of its
foundation to a full-fledged business based on its uniquevalues, “The Three Founding Spirits+ 1”. Today, under thevision of “Imagination & Creation, Tokyo Boeki” we aim tobecome a trading company capable of imagining future social
needs and creating new businesses. The new chairman andpresident will discuss the future growth strategy of the group.

Security business progressed favorably in the fiscal
2021, but loading arm business at a Turning Point

Katoh: In the fiscal year ended March 31, 2022, we posted
declines in sales and increase in profit, with net sales of
32,586 million yen (down 23.0% year-on-year), ordinary
income of 3,527 million yen (down 15.6%), and net income
attributable to shareholders of the parent company of 2,197
million yen (up 12.9%). Against the uncertainties about the
future, we had an increase on a net income basis in the end.
As management, I would like to express my sincere gratitude
to all the group companies for their good performance.
Our group’s two main businesses are security-related,
including surveillance cameras, and loading arm-related,which is indispensable for LNG cargo handling. In recent
years, while the security business has remained strong, theloading arm business is at a turning point, which has been
one of the reasons for the lack of business growth.
Tsubouchi: Although our loading arm business boasts
v i r t u a l l y 1 0 0 % o f t h e d o m e s t i c m a r k e t s h a re , w e a recurrently working on shifting our operations overseas, as theconstruction of LNG terminals in Japan has run its courseand future market expansion is not expected.

Restoring a corporate culture of challenge without
fear of failure

Tsubouchi: I think the sluggish performance in recent years
may be due in part to employees’ willingness and awarenesst o g r o w. To k y o B o e k i w a s f o u n d e d i n 1 9 4 7 a n d h a sachieved rapid growth since around the 1970s. However,since the bursting of the bubble economy, the businessenvironment has remained severe, and a defensive attitude
of “doing things so as not to fail” rather than “taking on new

3

TOKYO BOEKI GROUP

challenges” has taken root within the company, and I think
this has led to today’s situation.
Katoh: When I became president, I had the impression that
there was a widespread feeling within the company that it wasfine to “maintain the status quo”. As a result of my aggressive
efforts to talk to employees about “restructuring the culture andrestoring growth,“I feel that the atmosphere within the company
has gradually become one in which “we need to change”.
It would not be difficult for our group to maintain the statusquo for a few years. However, in order to celebrate our 100th
year in business amidst a rapidly changing environment, wemust continue to boldly take on new challenges and growwithout fear of failure as an “Imagination & Creation” trading
company.
Tsubouchi: In the future, I would like to make the company
a place where failure is seen from a positive perspective andemployees are encouraged to take on positive challenges.
We are still working on the appraisal system, but I believe

Chairman and
Representative Director

Sanshiro
Katoh

Cross

that the management team, including myself, will take theinitiative in continuing to take on difficult challenges, which
will send a positive message to our employees.

Promoting both “deepening existing businesses”
and “creating new businesses” for growth

Katoh: The challenges we must take on to realize our vision
are “deepening existing businesses” and “creating new
businesses”.
Tsubouchi: First, in our existing businesses our customers
are undergoing major internal reforms, and we would liketo explore various possibilities, such as considering andp ro p o s i n g s e r v i c e s t h a t m e e t t h e i r n e w n e e d s . A s w econtinue these efforts, I believe we will be able to identify new
business fields to enter.
In any case, I believe that TBH must commit itself to thebusiness strategies of each group company as a leader,and determine the optimal allocation of people, goods,
and money from a group-wide perspective, while working
together with its employees.
Katoh: In 2020, we established a new company, tb innovations
LTD., to promote innovation within the group and promotev e n t u re f u n d m a n a g e m e n t , M & A c o n s u l t i n g , a n d n e w
business development. The scientific approach advocated by
the company has already produced results, such as changes
in the group’s work style, and I am proud to say that this is one

Talk

President andRepresentative Director

Hideshige
Tsubouchiof the achievements of my time as president.
Tsubouchi: We are also promoting group-wide efforts toimprove operational efficiency and create new value through DX.
By digitizing the unique experience and know-how wehave accumulated over the years and utilizing them as newservices, we expect to expand our existing businesses andat the same time provide new values and new businesses
through the development of data-utilizing solutions.
Katoh: With regard to new businesses, there are plans to launch
execution units engaged solely in new business development
under the direct control of board members at TBH in July
2022, and to start multiple business development projects.

Growth of people generates growth of the company

Tsubouchi: I place particular emphasis on human resources
as the foundation for the group’s sustainable growth. Evengrowing markets eventually mature and decline, but a company
can continue to grow forever as long as it has human resources
capable of creating “new value”. For our group, it is alsoessential to create an environment in which we can continuously
nurture excellent human resources who will carry the future.
To this end, I believe that a relationship of trust between thecompany (management) and its employees is crucial.
Katoh: In order for a company to be trusted by its employees,
the company first considers what it can do for its employees
before demanding anything from them, and then asks fortheir cooperation. I believe this is one of The Three Founding
Spirits, the “mindset of management among all employees”.
Tsubouchi: If a manager does not set policy and does not takeresponsibility, employees will not trust him or her and will notwant to work with him or her. I believe that taking responsibility
as a top executive will lead to building trust with employees.
Therefore, I take an initiative and show the goal we shouldmeet as Tokyo Boeki Group. And if I fail, I will apologize.
Taking responsibility as top management will lead to building
trust with employees.
Katoh: By communicating with employees, who are important
stakeholders of the company, and building a relationship oftrust, let’s create a company where employees can be proud
to be a member of the Tokyo Boeki Group.
Tsubouchi: As the top management, I am determined to workon the transformation of the business portfolio so that thecompany can grow and develop, as well as to send a clear
message internally and externally and make management
more visible.

TOKYO BOEKI GROUP

4

Tokyo Boeki Group Celebrates the75th anniversary!

Tokyo Boeki Group has been in business since 1947. We will further enhance the expertise and businesscapabilities we have built up, and with the three founding spirits plus one as the TOMAS spirit, the groupwill work as one to create a company rich in creativity and contribute to the realization and continuationof a better society.
1960s
Opened bases overseas successively.
1947
Moscow, Beijing, Sydney, Melbourne, New York,Founder Yasuo Matsumiya
established Tokyo Boeki Shokai.

Bucharest, and others

1948

The Moscow representative office was officiallyapproved by the former Soviet Union Government
as an office, the first time for a free world enterprise.

1950

Completed construction of Atsugi plant which commenced operations; started the
manufacturing of measuring instruments and design equipment.

1967

Entered the metal/machinery
sector and the grain/fertilizer sector.

1969

Launched the grain/fertilizer sector.

1940

1950

1960

1951

Authorized as a trading firm for foreign food by the Japanese Food Agency.

1953

Successfully inaugurated the first post-war barter trade with China using the
newly formulated TOMAS Way, becoming the forerunner of Japan-China trade.

1980

1973

Opened the premium Japanese restaurant “INAGIKU” at the
Waldorf Astoria Hotel in New York, entering the restaurant
industry in the United States.

1974

1954

Founded Qatar Steel Co., Ltd., in Qatar through a joint venture,
constructed the first full-scale steel plant in the Middle East; andinitiated overseas production and multinational trading.

1955

Agreed to export a large
quantity of automobiles fromToyota Motor Corporation and
Hino Motors, Ltd. to China andincreased trade amount withthe country with which we hadlong relation already.

Started steel trading; appointed as Yahata Iron & Steel Co., Ltd.’s (nowNippon Steel & Sumitomo Metal Corporation) export agent; establishedbasis of steel business and related businesses.
Acquired sole Japanese distributorship ofUnites States Chiksan Joint and Loading
Arms and commenced machinery imports.

1957

Changed company name from Tokyo Boeki
Shokai to Tokyo Boeki Ltd.
5

1970

TOKYO BOEKI GROUP

1978

1980

Signed a long-term agreement
to import Gregory coalfrom B.H.P., Australia.

1983

Invested in Quintette Coal,
Canada to diversify
overseas coal sources.

2013

1985

Company name changed from Tokyo Boeki
Ltd. to Tokyo Boeki Holdings Corporationand its capital increased to 3.0 billion yen.

1986

Capital increased to 5.0 billion yen.

1988

Relocated the headquarters to KYOBASHIEDOGRAND and consolidated the headquartersfunctions of the Tokyo Boeki Group

Founded MONITOR PRODUCTS, INC. in New Jersey, U.S.,
and began sales of electrical appliances in the United States.
Founded T.B. TECH CO., LTD. in Toyota city.
Opened a representative office in Detroit, U.S.,(now TOKYO BOEKI NORTH AMERICA, INC.)

1990
1994

Established the Atsugi plantas an independent company
named TOKYO BOEKI
TECHNO-SYSTEM Ltd.

1995

Founded TB-eye Ltd.

1999

Founded TOKYO BOEKI
MEDISYS INC.

2000

2014
2017

2010

2020

2001

2020

Founded TOKYO BOEKI MECHANICS LTD.
Founded TOKYO BOEKI (CHINA) LTD.

Founded tb innovations LTD.

2003

Founded TB global technologies
Ltd. through the merger between
TOKYO BOEKI MACHINERY LTD.
and TOKYO BOEKI ENGNEERING,
LTD.

2021

Founded TOKYO BOEKI ENGINEERING, LTD.

2005

Founded TOKYO BOEKI (BEIJING) LTD. in China to integrate
the steel-making refractory brick business.
Aimed to expand business area primarily through sales ofrefractory bricks.

2006

Founded TOKYO BOEKI MACHINERY LTD. and TOKYO
BOEKI MATERIALS LTD. through a incorporation-typecompany split in order to accelerate the move to Tokyo
Boeki Group Federated Management system.

2022

Tokyo Boeki Group celebrates
its 75th anniversary since its
foundation and new chairman,
Mr. Katoh and new president, Mr.
Tsubouchi usher in.

 The Group companies are stated in the current names.

TOKYO BOEKI GROUP

6

Segment Information (Percentage represents ratio of sales)
Business Description

34%

Energy Machinery Industry Group

11,038 million yen (-18.4% YOY)
Operating income
1,071 million yen (-39.9% YOY)

Net sales

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

Business Conditions
In the energy industry, there is a major global shift toward a decarbonized society
and the switch to hydrogen energy and renewable energy is highly demanded. In
addition, the significant rise in the prices of fossil fuels and materials have been
observed. In our mainstay loading arm business, TB Global Technologies Ltd. wasestablished in April 2021 by integrating the sales and manufacturing companies
within our group in order to strengthen our expansion into overseas markets tocompensate for the shrinking domestic market. The group is pursuing both pricelevels and quality that are competitive in overseas markets, developing new
products such as loading arms for hydrogen, and promoting the new businessof transportation support robots. However, the group recorded decrease in sales
and profit as it will take time to make these products profitable.

18%

Technology, Automobiles andInformation Industry GroupNet sales
Operating income

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TOKYO BOEKI GROUP

5,996 million yen (+13.0% YOY)
589 million yen (+88.1% YOY)

Business Description
The group proposes and provides solutions to improve productivity byintegrating data collected from coordinate measuring machines and knowledge
and know-how accumulated at manufacturing sites and related software andIoT products. We are a group of engineering experts who contribute to theconstruction of smart manufacturing for our customers.

Business Conditions
With the recovery of economic activities, investment in the automobile industry,
our major customer base, increased, and sales of coordinate measuringmachines, the group’s mainstay product, to the car industr y recovered
compared to the previous fiscal year. Furthermore, the group also received its
first order for tunneling equipment in the construction industry, which the group
had been cultivating as a new customer segment. As a result of these efforts to
expand business, the group achieved increases in both sales and profit.

45%

Medical, Life and Science
Industry Group

14,699 million yen (-6.8% YOY)
Operating income
2,411 million yen (-11.6% YOY)

Net sales

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 and estimates, 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 around the world.

Business Conditions
In the mainstay security-related business, sales have remained strong since theprevious fiscal year, when sales reached a record high, as the group further enhanced
its ability to make proposals and won large-scale projects using sophisticatedequipment and solution projects incorporating TAS (TB-eye AI Solution) and othertechnologies. The intercom business, now in its ninth year, expanded sales in the
medical and nursing care fields. And the e-commerce (EC) business, which enteredinto full-scale operations in the previous fiscal year, achieved record-high sales by
expanding sales channels. However, the group as a whole, posted declines in bothsales and profits due to the high upfront investment in the development of an image
analysis crime prevention system in the security-related business and a decrease intransactions of oxygen generators for Russia.

3%
Net sales
Operating income

Materials, Resource andMetal Industry Group932 million yen (-87.9% YOY)
367 million yen (+40.0% YOY)

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 Asianmarket 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, and digitalization. And in the area of resources, we procureand supply mainly steel raw materials and equipment from overseas.

Business Conditions
In the material business the demand for refractory bricks recovered due to the impact ofactive crude steel production by major steel companies, the group’s main customers, as
manufacturing industries resumed production following the recovery from the Corona disaster. In the steel business, the group’s overall transaction volume increased significantly
because the building steel transactions to Vietnam expanded, which continued from the lastyear, while automobile steel business with India also significantly grew. There were someconcerns, however, such as the soaring cost of refractory bricks resulting from the impact of
the Chinese government’s energy policy and uncertainty in the steel market since the beginning of the year. In the end the group showed decrease in sales and increase in profit because
the group’s transaction volume expanded while the sales we were involved as an agent gave
a negative impact due to the application of the revenue recognition accounting standard, etc.
TOKYO BOEKI GROUP

8

GROUP TOPICS
Tokyo Boeki Group
Accelerated company-wide operation reform, “Office365 Utilization Promotion Plan”
Based on the announcement of the DX concept “TOMAX: Operation to Create the Future” in April 2021, welaunched the “Office365 Utilization Promotion Plan” as a concrete initiative for company-wide operational
reform (business reform) positioned as Lv.1. We shared education contents such as hands-on seminars,
e-learning, and case studies and linked theories with actual works through workshops and as the culmination,a DX competition was held. We created the momentum to link the analysis of the current situation andidentification of issues. Even from now on, we will strongly promote DX to foster a corporate culture that accepts
improvement activities, imitating and adopting the good practices of others, both within and outside the Group,and leading to the shared growth of management, business, and human resources.
Image poster

Domestic GroupTB Global Technologies Ltd.

Received an order for LNG loading arms for the LNG export port of NFE Project in Qatar
TB Global Technologies Ltd. has received an order for LNG loading arms for the Qatar Gas NFE Project, which isunder construction by Qatar national petroleum company. The project is a very large project that will produce

Energy Machinery Industry Groupand export 32 million tons of LNG per year, and our loading arms will be installed sequentially at the Ras Laffan
LNG export port in Qatar, which boasts the world’s largest shipment volume. Through this project, Qatar plans
to increase its LNG production from 77 million tons to 110 million tons per year. The project will produce LNG
with 25% less greenhouse gas emissions than conventional production facilities. TBG is very proud to have

Ras Laffan LNG export port in Qatar

been selected for this strategic project, and it proves that more than 50 years of our experience in LNG transfer
has been highly evaluated by our customers. TBG will continue to contribute to the global LNG value chain.

Domestic GroupTOKYO BOEKI MECHANICS LTD.

Detoxificated the odorant equipment that adds odor to LP gas.
In April 2021, following the decommissioning of the plant due to the integration of petroleum distributors,
we did a detoxification work for the odorant equipment that adds odor to LP gas. The purpose of this work
was to collect all of the odorant and clean and deodorize the inside of the tanks and pipes in advance sothat the odorant would not leak outside and cause inconvenience to nearby residents when the plant was
decommissioned. In this project, we collected 6,000 liters of odorant and successfully completed the workwithout causing any odor leakage, which was highly evaluated by the client.
TOKYO BOEKI MECHANICS LTD. will continue to make every effort to preserve the living environment so that
local residents can continue to live comfortably with our many years of experience and technical capabilities.
detoxification work for the odorant equipment of LP gas

9TOKYO BOEKI GROUP

Domestic GroupTOKYO BOEKI TECHNO-SYSTEM LTD.

Domestic GroupAward winning members

T.B.TECH CO.,LTD.

Manufacturing-Specific Data Science Intensive Course Certified as Education Training Course
Since its establishment in 1986, T.B.TECH CO.,LTD. has been providing system solutions mainly to theautomotive manufacturing industry.
Based on our long track record and experience in dealing with major automobile manufacturers, wehave developed production management, equipment maintenance, and cost management systems for the
manufacturing industry, and provide total support from implementation to system construction and operation.
In recent years, the use of AI in the manufacturing industry has become essential to improve corporate
competitiveness. In this context, we provide support for AI development and implementation, as well as humanresource development for data scientists who can play an active role in the manufacturing industry.
The “Manufacturing-Specific Data Science Intensive Course” has been recognized by the Ministry of
Economy, Trade and Industry as a “Fourth Industrial Revolution Skill Acquisition Course” for its specialized andpractical education and training course in the field of AI.

TOKYO BOEKI MATERIALS LTD.

Materials, Resource and Metal Industry Group

Domestic Group

Manufacturing-Specific Data Science Intensive Course

Progress in AI& digital solution businesses
Our Digital Business Promotion Group is expanding its various measurement services in addition to promoting
the residual thickness measurement system for refractory bricks, which we have been providing to customers
in the steel industry since 2019.
We are adding new services such as digitization of measurements of product dimensions and bends inthe hot state, which have conventionally been determined by the discernment of experienced engineers, anddrawing/three-dimensionalization of factory layouts.
In the future, we aim to develop an automatic judgment and notification system that combines conventional
instruments and new sensors with AI image analysis for factory equipment management.
In the process of energy saving, decarbonization, and digitalization, we will continue to contribute to asustainable society by solving our customers’ problems with our unique services.

Technology, Automobiles and Information Industry Group

Received “Technology Development Award” from TOYOTA MOTOR CORPORATIONIn March 2022, TOKYO BOEKI TECHNO-SYSTEM LTD. together with two other companies received the“Technology Development Award” from TOYOTA MOTOR CORPORATION for the fiscal 2021.
The award is one of the most prestigious Toyota technology-related awards, and is given to suppliers who
have promoted manufacturing with innovative technology.
We were awarded for the “Development of a high-performance, autonomous, self-moving measurement
technology by linking general-purpose equipment”, which is a self-moving measurement system combining
our measuring machines, collaborative robots, and AMR*. This technology has made it possible to reduce
manpower and speed up the inspection of finished vehicles as well as to reduce the inspection space requiredby half and investment cost by one third. * AMR: Autonomous Mobile Robot

On-site measuring

TOKYO BOEKI GROUP

10

Domestic GroupTB-eye Ltd.

A new digital inter-com, ClearTalkCom with LCD released

Medical, Life and Science Industry GroupA new ClearTalkCom digital intercom with an LCD screen was released in November 2021. Settings that weredifficult to understand on previous products, such as conversation group, battery level, radio wave level, andvoice level, can now be checked on the LCD screen. In addition, the product has been improved to be easier touse based on the needs of the field, with new buttons for easier operation and Bluetooth as standard features.
It can also be synchronized with nurse call and monitoring sensors*, and is increasingly being used in medical
and nursing care facilities. We will continue our efforts to contribute to the medical and nursing care industry by
improving on-site communication through superior functionality and operability, thereby increasing operational
efficiency, reducing the workload of on-site workers, and improving services. *Available for compatible systems only

Domestic GroupNew digital intercom of ClearTalkCom released Nov., 2021

TOKYO BOEKI MEDISYS LTD.

Exhibited at JACLaS EXPO 2021 in Yokohama
We exhibited at JACLaS EXPO 2021 in Yokohama from October 8 (Fri.) to 10 (Sun.), 2021. The exhibition in2020 was cancelled due to the coronavirus pandemic, so this was the first time in two years.
JACLas is one of the largest exhibitions in Japan dedicated to the field of clinical testing, bringing together
manufacturers of medical devices, testing systems, and diagnostic reagents. Visitors include doctors, clinicallaboratory technicians, and pharmaceutical wholesalers from Japan and abroad.
This year, we exhibited not only the products of TOKYO BOEKI MEDISYS LTD., but also air sanitizers &MultiTerminals to prevent infectious diseases, with the cooperation of TB-eye Ltd.
Although the number of visitors was about 50% less than usual (about 4,000) due to the immediate
aftermath of the easing of corona restrictions, we had as many visitors to our booth as in the previous show.
We will continue our efforts to contribute to the health and well-being of people around the world and to thecreation of a happy future.

Domestic Group

Exhibited at JACLaS EXPO 2021 in Yokohama

tb innovations LTD.

New business creation project by open innovation started
In FY2021, the Next New Business & New Technology Investment Limited Partnership No.1 (“Next Fund”) invested
in five startups and one VC fund. Informetis Co., Ltd. (“Informetis”) is also the company that Next Fund invested in
FY2021. They have unique technologies related to Non-Intrusive Load Monitoring System and provide the sensors
that enable measuring electric power consumption more easily. From FY2021, tb innovations LTD. (“TIT”), TB Global
Technologies Ltd., (“TBG”) and Infometis have started “Electric power consumption visualizing project”. This project
aims to visualize and monitor the TBG Nagaoka factory’s electric power consumption in real time, as well as tosave electricity costs and detect machine anomalies. This project is intended as an experimental test with a view toproviding the packaged electric power consumption visualizing solution to enterprises throughout Japan.

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TOKYO BOEKI GROUP

Project concept

CONSOLIDATED COMPANIESDomestic Group Companies

Overseas Group Companies

TB-eye Ltd.

USA

President: Wonyong Kim
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: 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.

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)
President: Masaaki Sugihara
Business Description: Materials, resources, steel business and new businessdevelopment 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.
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)

CIS

TOKYO BOEKI (RUS) LTD. (Moscow)
President: Keiji Takigawa
Business Description: Sales of industrial and scientific equipment to CIS nations

TOKYO BOEKI MECHANICS LTD.
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

T.B. TECH CO., LTD.
President: Yasuhide Kanai
Business Description: D evelopment of contract software and package software,
network system building, system outsourcing and consulting

As of June 24th 2022
TOKYO BOEKI GROUP

12

FINANCIAL REVIEW
Financial Highlights
Net Sales
44,900(Million yen)

44,0722017

2018

47,091

2019

Operating Income
5,178

42,2992020(Million yen)

32,586

3,970

2021

2017

4,169

3,797

2018

2019

3,136

2020

2021

Note: N et sales for the 102nd fiscal year (FY2021) decreased by 12,730 million yen compared with theprevious accounting standard due to the application of the revenue recognition accounting standard, etc.

Ordinary Income(Million yen)

Net Income Attributable to Owners of Parent
3,756

5,338
4,162

2017

4,410

2018

4,181

2019

2020

2,812

3,527

2,994
1,946

2021

Earnings Per Share

2017
(Yen)

2018

832

37,111

653
408

2017

13

TOKYO BOEKI GROUP

2018

2019

2020

509

2021

2019

2,197

2020

2021

Total Assets / Net Assets
Total Assets

595(Million yen)

2017

Net Assets

40,75824,875(Million yen)

42,972

27,322

2018

42,05730,542

2019

44,64432,1392020

34,5632021

Consolidated Financial Statements
Consolidated Balance Sheets
Account Item

(Million yen)

2021

2020

As of March 31, 2022

As of March 31, 2021

AssetsConsolidated Statements of Income
Account Item

(Million yen)

2021

2020

April 1, 2021 –March 31, 2022

April 1, 2020 –March 31, 2021

Net sales

32,58642,299Current assets

34,96733,465

Cost of sales

17,74927,162

Non-current assets

9,677

8,591

Gross profit

14,837

15,136

3,298

3,321

Selling, general & administrative expenses

11,70011,339569

706

Operating income

3,136

3,797

5,809

4,562

Non-operating income

511

556

44,64442,057

Non-operating expenses

120

172

Ordinary income

3,527

4,181

Extraordinary loss

284

1,040

Income before income taxes

3,243

3,141

Income taxes

1,044

1,185

Net income

2,198

1,955

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

Current liabilities
Non-current liabilities
Total liabilities

9,435

9,127

645

790

10,081

9,917

Net assets

32,947

31,118Net income attributable to non-controlling interests

09Capital stock

5,000

5,000

Net income attributable to owners of parent

2,197

1,946

Retained earnings

28,512

26,682

Treasury stock

△ 564

△ 564

Accumulated other comprehensive income

1,427

833

Non-controlling interests

188

187

Total net assets

34,56332,139Total liabilities and net assets

44,64442,057

Shareholders’ equity

Note: N et sales for the 102nd fiscal year (FY2021) decreased by 12,730 million yen compared with theprevious accounting standard due to the application of the revenue recognition accounting standard, etc.

(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, 2022)
Tokyo Boeki GroupTokyo Boeki Holdings Corporationand 14 group companies
15 companies in total

Established

October 30, 1947

Capital Stock

5.0 billion yen(Shareholders’ equity: 32.9 billion yen)

Stock Information (As of March 31, 2022)
Total Number of Authorized Shares
Total Number of Stocks Issued

Number of Shareholders

38,519,920 shares
Common Stock 4,281,140 shares(Excludes treasury stock)
Class A Preferred Stock 1,700,000 shares
124

Name of Shareholder

Numbers ofRatio of
Stocks Held Shareholding

Employees

963

Tokyo Boeki Ltd.

1,700,000 shares

28.42%

Head Office(Pure holding company)

Tokyo Boeki Holdings Corporation
KYOBASHI EDOGRAND
2-2-1 Kyobashi, Chuo-Ku, Tokyo
104-0031 JapanTokyo Boeki Employee Share Holding Commission

625,000 shares

10.46%

Tokyo Marine & Nichido Fire Insurance Co., Ltd.

498,000 shares

8.33%

Executives of Tokyo Boeki Holdings Corporation (As of June 24, 2022)

The Toa Reinsurance Company, Limited

408,000 shares

6.82%

MUFG Bank, Ltd.

249,000 shares

4.16%

Nippon Life Insurance Company

120,000 shares

2.01%* 1,700,000 shares of Tokyo Boeki Ltd. are Class A Preferred Stock.

Board of Directors

Our Group Website

Chairman and Representative Director

Sanshiro Katoh

President and Representative Director

Hideshige Tsubouchi

Executive Vice President and Director

Wonyong Kim

Director

Hiroshi Shigezumi

Director

Shingo Nakagawa

Outside Director

Seiji Sato

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

Auditors
Full-time Corporate Auditor

Hideyuki Kikuchi

Outside Corporate Auditor

Miho Numata

Outside Corporate Auditor

Kenji Sakurai

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/