“Imagination & Creation,
Tokyo Boeki”

TOKYO BOEKI GROUP

Annual Report
April 1, 2020 – March 31, 2021

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, entrepreneurial corporate group.

Three founding spirits = TOMAS spirit

Management philosophy and Mission

1. Mindset of management among all employees
2. Mindset of a pioneer
3. M indset to overcome any obstacle and tonever reduce our efforts

Each group company aims to be a creative company
which enables its employees to realize their dreams.
Each employee takes pride in his or her work andcontribute to the world.

Generating synergistic effects“Tokyo Boeki Group Federated Management”

H

1

TOKYO BOEKI GROUP

ENERGY

Energy Machinery Industry GroupTECHNOLOGYTechnology, Automobiles and Information Industry GroupSCIENCE

Medical, Life and Science Industry GroupRESOURCE

Materials, Resource and Metal Industry GroupHEADQUARTERS
Tokyo Boeki Holdings Corporation

To Our Shareholders
ENHANCE PROFITABILITY AND DRIVE FURTHER GROWTH
Before discussing our business results for our 101st fiscal
year ended March 31, 2021 (hereafter “FY2020”), we like toe x p re s s o u r d e e p e s t s y m p a t h y t o a ll t h o s e w h o a resuffering from the upheaval caused by the COVID-19. We
also appreciate the ongoing support from all stakeholders
during the difficult time.

⃝FY2020 FINANCIAL RESULTS

During FY2020, we experienced healthy growth in our
security-related business, which is our core business,
however, the other businesses have been adversely affectedd u e t o p ro d u c t i o n c u t s a n d p o s t p o n e m e n t o f c a p i t a linvestment by our customers, caused by the COVID-19
pandemic.
As a result, net sales was ¥42,299 million (down 10.2%
from the previous year), ordinary income was ¥4,181 million(down 21.7% year on year), and net income attributable tothe owner of the parent was ¥1,946 million (down 48.2%
year on year) on a consolidated basis.
Reflecting our policy to maintain stable dividends while
retaining sufficient internal reserve for aggressive
investments in our existing and new businesses, the yearend ordinary dividend is set at ¥80 per share, a ¥10 increase
from the previous year.

⃝LOOKING TO THE FUTURE

the merger of Tokyo Boeki Machinery Ltd., the sales entity
and Tokyo Boeki Engineering, Ltd., the manufacturing entityof the loading arms. However, we believe the merger enable
us to provide additional value to our domestic and overseas
customers, and we expects the profitability will improve.
We plan to further drive our effort to improve our existing
businesses and creating new ones to enhance our
profitability as a group.

⃝DIGITAL TRANSFORMATIONWith the announcement of the “Tokyo Boeki DX declaration”
which declares our digital transformation strategy, we
initiated a digital transformation (DX) projects to improve
productivity and seek further growth as a businessenterprise.
Under the declaration, we are driving our initiatives tomoder nize business operations, promote business
transformation, improving working worthiness, and establish
new platform for sustainable growth of our groupcompanies. At the same time, we aimed at promoting worklife balance of our employees by improving productivity.
As an independent group of companies, we arecontinuously enhancing our expertise and entrepreneurial
p o w e r. B y c o n c e n t r a t i n g t h e g ro u p ’s c o m p re h e n s i v estrengths, we are determined to meet expectations of ourshareholders. We greatly appreciate your continued support.

Among our core businesses, we expects temporary costs
increase at TB Global Technologies Ltd., an entity created by

Net Sales:

June 2021¥42,299 million(down

10.2% YOY)

Operating
Income:¥3,797 million

Ordinary
Income:¥4,181 million

Net Income
Attributable to
Owners of Parent:¥1,946 million

(down

(down

(down

26.7% YOY)

21.7% YOY)

48.2% YOY)

Representative Director,
Chairman & CEO

Hiroshi Machida

Representative Director,
President

Sanshiro Katoh

TOKYO BOEKI GROUP

2

Segment Information (Percentage represents ratio of sales)

32%

Energy Machinery Industry Group

¥13,529 million (down 13.0% YOY)
Operating¥1,783 million (down 30.9% YOY)
income:Sales:■

Business Description

The Energy Machinery Industry Group is engaged in developing,
manufacturing, and selling fluid-loading equipment and related devices;a variety of gas-related machinery; power generation-related devices
and equipment; as well as environment-related devices for energyrelated industries, such as the electric power, gas, oil, and petrochemicalindustries.
In terms of our fluid loading arm equipment, one of our corecommodities, we offer superior products around the world based on ourhighly-regarded, integrated production and sales structure.

13%■

Business Conditions

Given the current severe economic climate worldwide, many energy industryrelated companies have been forced to restrain their capital investments. We
thus thought it prudent to merge the sales company Tokyo Boeki Machinery
Ltd. with the manufacturer Tokyo Boeki Engineering, Ltd., in order to enhancethe operation and competitiveness of our core loading arm business.
Although before the merger we had expanded production capacity andR&D capabilities at this core business, and invested in new business, we felt
it prudent to set up a new manufacturing company, TB Global Technologies
Ltd., on April 1 this year.

Technology, Automobile, andInformation Group

¥5,305 million (down 25.2% YOY)
Operating¥313 million (down 65.1% YOY)
income:Sales:■

Business Description

3D me a s u r i n g i n s tr u m e n ts , th e co m pa ny ’s co re p ro ducts, prov i d e
integrated measuring and data processing for a series of operations—fromdevelopment and modeling to manufacturing, testing, and completion—and for a variety of products, mainly helping automobile manufacturers to
improve their product development capabilities. Our automated, refined,
and diversified 3D measuring instruments are of global repute.

3

TOKYO BOEKI GROUP■

Business Conditions

As a result of the ongoing pandemic, the company’s main clients in theautomobile industry have experienced a severe downturn in business. Thishas caused a significant decline in the production of precision measuring
instruments and shipment volumes.
With sales of these instruments—a core product—affected by client
budget freezes and suspended investments, the Company has attempted to
cut costs and promote sales to other industries.
Fortunately, during the latter half of the term under review, clientdemand recovered and pulled our sales out of the slump. Nevertheless, theGroup’s revenue and profits decreased.

37%

Medical and Life Sciences Group¥15,779 million (down3.7% YOY)
Operating¥2,726 million (up 4.6% YOY)
income:Sales:■

Business Description

The Medical and Life Sciences Group is engaged in the development,
manufacture and sale of a wide range of products, including security
devices, medical devices, and scientific instruments.
The security equipment we provide for the domestic market includes
foreign-made surveillance cameras, which undergo rigorous quality control
inspections. In addition, we provide a full line of services including onsite
surveys, system design, proposals and estimates, construction, as well as
repairs and maintenance.
In some 80 countries, we sell compact automated analyzers for use in clinicalexaminations and boast an outstanding track record in the medical device market.

18%
Sales:
Operatingincome:■■Business Conditions

In our core security-related business, many client companies are withholding or
postponing capital investments because of the deteriorating business climate
brought on by the global pandemic. Yet, while new and updated demand fromclients has decreased, the situation has presented us with an opportunity: we arehandling new products—such as sensors to measure surface temperature and air
sterilizers—related to COVID-19 countermeasures.
In addition, we are engaged in new areas, such as EC business, involving
electronic transactions conducted over computer-mediated networks. In the second
half of the fiscal year under review, existing businesses picked up and, as a result,the Group secured an increase in profits, despite a slight decrease in revenues.

Materials, Resources,
and Metals Group

¥7,722 million (down 4.8% YOY)
¥262 million (down 24.2% YOY)

Business Description

We primarily provide a stable supply of refractory products for the steel
industry that have been developed and produced at our joint venture company
in China.
We also provide after-sales services using digital solution technologies.
In addition, we supply a variety of steel products including high-gradesteel to our clients in Southeast Asia and other markets in the world. We arealso engaged in procurement and supplying raw materials, such as coal,coke, and ferroalloys, as well as equipment and components required in thesteel industry.

■Business Conditions

COVID-19 pandemic has caused significant decline in demand for steel
products in Japan and overseas. It forced major steel manufactures to idle
their blast furnace operations. Consequently, the demand for refractory
bricks have been dropped. On the other hand, the steel business did show asign of an uptick during the second half of the fiscal year, with maintaining
strong sales in the Vietnamese market and sales recovery in the Indian market.
However, despite the fact that we engaged in new business development
in China, the revenues and profits of the Group decreased.
TOKYO BOEKI GROUP

4

Group News(1)TB Global Technologies (TBG) Ltd.

The Launch of TB Global Technologies (TBG) Ltd.
On April 1, 2021, Tokyo Boeki Machinery Ltd. and Tokyo Boeki Engineering, Ltd. were merged to form TB Global Technologies Ltd. With the newcompany we have created a business based on developments and technology from around the world. TB Global is more than a merged company; it
is a company that creates new values.
With the energy machinery Group’s main line of business being loading arms, it aims to be the world’s top company in the field, and thereby tocontinue contributing to global society.

1955

To ky o B o e ki L td . b e co me sa holding company ande s t a b l i s h e s To k y o B o e k i
Machinery Ltd.

Acquires loading arm
facilities and staff from
Niigata Engineering, due to
its liquidation.

Acquires the exclusive
distributorship for the
C hi k sa n jo int a nd lo a dingarms made by Chiksan Corp.
of the USA.

1959

2001

Concludes a licensing
agreement with Chiksan Corp.
for domestic production of theloading arms. Manufacturer:
Niigata Engineering Co.

2002

Establishes Niigata Loading
Systems Ltd. for the
manufacture of loading arms.

2006

Hideshige Tsubouchi, presidentof Tokyo Boeki Machinery Ltd.
( a n d v ice p r e s id e n t o f To ky oBoeki Holdings) also serves asth e p r e s id e n t o f To ky o B o e ki
Engineering Ltd.

2015

Niigata Loading Systems Ltd.
changes its name to Tok yo
Boeki Engineering Ltd.

2019

2021

Tokyo Boeki Machinery Ltd.
and Tokyo Boeki Engineering
Ltd. merge to form TB Global
Technologies.

• Development, manufacture and sale of, as well as after-sales service for, energy-related equipment and machinery, such as hydraulic loading machines
Main Business• Exploration of new energy-related business in robotics, ORC machinery, and other areas
Operations• Import and export of laboratory instruments and equipment

5

Offices

Domestic offices: T okyo head office, Nagaoka Works, Tohoku Service Center, Sapporo Office, Tomakomai Office, Nagaoka Service Center, Kanto
Service Center, Osaka Service Center, Nagoya Service Center, Hiroshima Service Center, Fukuoka Service Center
Overseas offices: Beijing Office, Singapore BranchPresident

Hideshige Tsubouchi

Capital¥400 million

Employees

350

Homepagehttps://www.tbgtech.co.jp/en/

TOKYO BOEKI GROUP

Group News(2)TB-eye Ltd.

Products Combat COVID-19
Even as the pandemic was spreading, the Medical and Life Sciences Group’s TB-eye Ltd. responded by researching and developing new
products and introduced the following into the market.
TB-eye Ltd.
Released in July 2020

Released in August 2020

Multi-terminal to measurebody surface temperature

Air sterilizer

The multi-terminal can measure the body’s surface temperature
without physical contact, and determine whether a mask is being
used through an AI facial recognition system.
In addition, since it can be linked to the opening and closing of
security gates and entry/exit management, it has applications tomeet the needs of a range of clients.

The sterilizer suppresses and removes bacteria and viruses in
the air by using ultraviolet light, ozone, and free-radical induced
decontamination. In a demonstration at the Kitasato Research Center
for Environmental Science, it has been shown that it is possible toremove 99.9% of airborne viruses and bacteria. The sterilizer has
been supplied to WHO headquarters and to the International Red
Cross.

The Tokyo Boeki Group hopes to continue contributing to the creation of a better society through its products and services.
TOKYO BOEKI GROUP

6

GROUP TOPICS
Domestic GroupTB Global Technologies Ltd. (Formerly Tokyo Boeki Machinery Ltd.)

Exhibit at LOGIS-TECH TOKYO 2021 and initiatives to acquire ISO13482 certification
In March 2021, we exhibited our product at LOGIS-TECH TOKYO 2021. This was our first external event sincelaunching our coworking transportation robot CoRoCo in March 2020, and we worked to promote our product andspread the knowledge regarding our business concept. We received a strong response and many inquiries, mainly
from visitors working in the manufacturing, logistics, and distribution industries in the Tokai and Kansai regions, andalso discovered many new potential applications for CoRoCo.
FY2020 was the period for initially introducing CoRoCo, as we focused on building a foundation to maintain andimprove stable quality. Primarily, we built a quality assurance system for design, development, and manufacturing inaccordance with the ISO13482 standard (international safety standard for personal service robots), and conductedactivities aimed at acquiring certification of the standard.
We will strive to get our businesses on track by effectively leveraging information and needs discovered at theexhibition to provide products and services of a quality that would be appreciated by society.

Energy Machinery Industry Group

Domestic Group

Booth and uniforms fully
promoting the brand

Demonstration of autonomous drivingwith a small smart robot

TB Global Technologies Ltd. (Formerly Tokyo Boeki Engineering, Ltd.)

Selected as a Company Taking on the Zero-Emission Challenge by METIThe Company was selected by the Ministry of Economy, Trade and Industry (METI) as one of the Companies
Taking on the Zero-Emission Challenge, which are companies boldly taking on innovations toward realization of adecarbonized society.
This selection was in recognition of our research initiative to increase the size of marine loading arms for liquefiedhydrogen, as part of the Development of Technologies for Realizing a Hydrogen Society, a project conducted by
the New Energy and Industrial Technology Development Organization (NEDO).
Going forward, all employees will make concerted efforts to take on the challenge of achieving a decarbonizedsociety by drawing on the development and manufacturing technologies we have long cultivated, as a step tocreate a prosperous society and satisfy our customers.

Domestic Group

Companies Taking on the Zero-Emission Challenge logo

TOKYO BOEKI MECHANICS LTD.

Smart maintenance initiatives
Tokyo Boeki Mechanics Ltd. has introduced on-site mobile tablet devices at the Service Department. The
Service Department conducts device maintenance on about 1,600 units annually, mainly rotating machines
such as compressors and pumps. With the introduction of on-site mobile tablet devices, Service Department
staff members nationwide are now able to check shift status in real time. This has enabled smooth schedule
adjustments, and established a system that allows us to reach customers more rapidly in an emergency.
Furthermore, staff members can check the history of device maintenance conducted at various locations
nationwide at any place and at any time, enabling them to propose and conduct optimal maintenance in a timely
manner.
In addition, staff members can now create reports on-site, including taking and editing photos, a task which
previously had to be performed at the office after completing on-site work. There have also been various benefits
in terms of improved productivity, such as simplified operations, reduced burdens on staff members, andimproved mobility to respond to our customers.
Going forward, we will continue to actively promote DX and IoT initiatives, and strive to raise productivity andprovide optimal services chosen by our customers.

7

TOKYO BOEKI GROUPEntering inspection results into a tablet device

Domestic GroupTOKYO BOEKI TECHNO-SYSTEM LTD.

Promotion of virtual exhibitions and online seminars

Leica Laser Tracker

Measurement DX (ATS)

Domestic Group

RaptorEye2

TOKYO BOEKI TECHNO-SYSTEM LTD.

Released our new product FLARE
We released FLARE, a non-contact 3D scanner, in January 2021. The FLARE system is a non-contact 3D scanner forindustrial products.
Light in a striped pattern is projected onto the object to be measured from the projector, and a charge coupled device(CCD) camera measures the object by photographing the contrast of the stripe on the object. The surface shape canbe converted into 3D data quickly with high accuracy, without touching the object to be measured. By utilizing this 3D
data, it is possible to solve various problems in the production process such as prototype development and quality
control, and improve the productivity of customers’ manufacturing. In addition, by combining a FLARE non-contact
3D scanner with a robot, automatic measurement, which was previously performed manually, can be realized. Thiscan dramatically improve the efficiency of manufacturing by eliminating labor shortages and enabling high-speed
measurement. We will actively expand sales of FLARE as one of the main products of TTS.

Domestic Group

Measuring with FLARE

T.B. TECH CO., LTD.

Opened 10 short courses on AI
T.B. Tech Co., Ltd. (TBT) added 10 new short courses in 2021 to the Data Scientist Training Course it has held since2019. TBT provides a wide variety of courses, ranging from “Introduction to Python,” which can be taken by persons
with no programming experience, to “Deep Learning Imaging Systems,” which can be applied immediately to work.
TBT aims to satisfy each and every customer by allowing them to freely combine different courses according totheir proficiency level, thus enabling them to further improve their skills. As of March 31, 2021, we have held atotal of six courses, with an average satisfaction level of 4.5 and an average proficiency level of 4.1 (out of 5). In
addition, TBT has decided to hold five more such courses by July, while the fifth term of our long-term courses will
be held from May. We will all work together to further enrich these courses.

Technology, Automobiles and Information Industry GroupDue to the spread of COVID-19, many exhibitions and in-person seminars, which were important opportunities
to acquire new customers, have been canceled, postponed, or scaled down. To tackle the issue, Tokyo Boeki
Techno-System Ltd. (TTS) has worked to promote remote and non-contact marketing activities, including
appearing at virtual exhibitions and holding online seminars. We exhibited at one of the largest virtualexhibitions in Japan, which was held from February to March 2021, and the TTS virtual booth received more
visitors than expected. In addition to making use of virtual exhibitions, TTS has also held many online seminars,
covering topics such as Measurement DX (ATS), the in-house developed RaptorEye2 in-line measurement
system, and the Leica Laser Tracker. Going forward, we will actively spread information that is useful for solving
problems faced by many of our customers.

Course in session

TOKYO BOEKI GROUP

8

Technology, Automobiles and Information Industry Group

Domestic Group

T.B. TECH CO., LTD.

Published “G-Certificate Exam Prep Textbook” on the field of AI, in January 2021
In January 2021, T.B. Tech Co., Ltd. (TBT) published the “Fastest Pass through Keyword-focused Explanations:
Deep Learning for GENERAL (G-Certificate) Exam Prep Textbook,” which was coauthored by four TBT employees.
The G-Certificate exam is an exam conducted by the Japan Deep Learning Association (JDLA), which tests
people on whether they possess basic knowledge regarding deep learning, and whether they have the ability andknowledge to determine appropriate utilization policies, and to apply it to business. As a result of sharing study
methods and know-how regarding the G-Certificate exam among 10 individuals who have successfully passed
the exam, we were able to fill the book with watchwords that appear frequently in the exam, along with helpful
tips. To expand the reach to more readers, we will distribute it to our business partners, mainly in the automotive
manufacturing industry, as well as promote the book on employees’ blogs and social media accounts. Goingforward, we will continue to compile exam prep books that support people preparing for the G-Certificate exam.

Domestic Group

Cover of “G-Certificate Exam
Prep Textbook” on AI

TB-eye Ltd.

Entry into the Electronic Commerce (EC) business

Medical, Life and Science Industry GroupTB-eye Ltd. has entered the electronic commerce (EC) market, which is expected to grow, and in November 2020,
followed up the opening of an Amazon store with the opening of a Shop EYE Rakuten Ichiba Store (https://www.
rakuten.ne.jp/gold/shop-eye/).
Shop EYE offers an assortment of products based on the concept of products to improve your life into the
future. Specifically, sales are steadily increasing from the popularity of masks and air purifiers as COVID-19
countermeasures, as well as single person household appliances to help enjoy staying at home, and neck coolers,
which were a hot item last year.
We aim to enter cross border EC toward foreign markets, as well as virtual stores, live commerce, and others,
always keeping pace with changing trends and diversifying sales schemes. In addition, by leveraging knowledge wehave gained through our EC business, we will conduct sales for B2B through distributors. At the same time, we willconnect these efforts to OEM product development, and build a sales cycle that expands those products to B2C,
with the aim of further expanding the business.

Domestic Group

Shop EYE Amazon Store

Shop EYE Rakuten Ichiba StoreTOKYO BOEKI MEDISYS INC.

Related SDGs

BIOLIS30i selected for UNIDO’s STePP
BIOLIS30i has been selected as a registered product in the area of Human Health Technologies for the United
Nations Industrial Development Organization (UNIDO) Sustainable Technology Promotion Platform (STePP).
STePP is a special platform that was established by UNIDO to introduce Japan’s excellent technologies, in orderto support the achievement of the Sustainable Development Goals (SDGs) in developing and emerging countries.
BIOLIS30i was recognized as a product that contributes to SDGs “3. Ensure healthy lives and promote well-being
for all at all ages” and “9. Build resilient infrastructure, promote inclusive and sustainable industrialization andfoster innovation,” and became the first general-purpose biochemical equipment to be registered on the platform.
Reference website: http://www.unido.or.jp/en/technology_db/8058/
Going forward, all of our employees will come together as a team to achieve the SDGs and contribute to medicalcare around the world.
BIOLIS30i

9TOKYO BOEKI GROUP

TOKYO BOEKI MATERIALS LTD.

？ Digital Business Promotion Group

Established the Digital Business Promotion Group

Measuredimensions

Embed
information

Createdigital twins！

Since 2019, Tokyo Boeki Materials Ltd. has provided refractory brick measurement and analysis
systems to customers in the steel industry in collaboration with Tokyo Boeki Techno-System Ltd. We
have established the Digital Business Promotion Group with the goals of promoting digital solutions
Obtain hints to find problems on-site through conversion into databusiness using these systems, and contributing to a decarbonized society through optimization that
Digital Business Promotion Group
combines the digital technologies of the Tokyo Boeki Group.
In refractory measurement, we have digitized into data the judgment process that previously required the discerning eye of experienced engineers. This has allowed us to propose
measurement methods that meet the needs of work sites to customers, as well as support their data processing, IT system upgrades, and propose refractory and other materials at
the same time.
In the future, we will help our customers build smart factories by controlling the risk of disasters in these factories due to human error. In China, we aim to develop and introduce a
refractory measurement management system in the Chinese market in a tie-up with our partner Chinese refractory manufacturer. We will solve problems in the steel industries both inJapan and abroad through digitization, and enhance both their sustainable growth and unique strengths.

Domestic Group

Materials, Resource and Metal Industry Group

Domestic Grouptb innovations LTD.

Invested in venture companies through a CVC fund
In March 2021, the Next New Business & New Technology Investment Limited Partnership No. 1(“Next Fund”) invested in two venture companies. The Next Fund is funded by Tokyo Boeki
Holdings Corporation and tb innovations LTD. (TIT). This time, we invested in one temporary
staffing agency that is working to visualize work procedures through DX consulting and support
the introduction of robotic process automation (RPA), and another company that plans, develops,
and sells sensors tapping into to the five human senses. TIT invests in venture companies withthe potential of business synergies for the future development of the Group and those with future
growth potential. We will strive to contribute to the creation of new businesses and the growth ofexisting businesses in the Tokyo Boeki Group, amid the rapidly changing recent economic
environment.

Tokyo Boeki Group
Launched the DX Project Team

Strategic Investment Business

Consulting Business

New Business Development

Corporate Venture Capital(CVC) management
and M&A advice

Formulation of growth strategies,
deepening of businesses,
and support for internal
process reforms and execution

Creation of new business items
and human-resource
development for launching
new businesses

Research
Various research activities and marketing for strategic investment, consulting,and new business development, and publication of industry articles, newsletters, and reports

Business overview of tb innovations LTD.

Apr. 2021 to Mar. 2024 Phase 1

Apr. 2024 to Mar. 2027 Phase 2

Apr. 2027 to Mar. 2030 Phase 3

Cultural reform
Social relations reform

In December 2020, we set up a DX project team, and in January 2021
[Business reform]
Business reform]
we published our DX declaration. Based on these first steps, the Tokyo [Operational reform]
Business model reform
Boeki Group has started concrete studies towards the implementation of Company-wide operation reform Ecosystem reform-Watchword-Watchword-WatchwordImproving corporate value
DX, and has launched the DX concept TOMAX: Future Creation Strategy.
Improving productivity
Improving customer satisfaction
We have drawn a roadmap with a four-stage, nine-year plan for company- (Eliminating overburden, waste
DX LV3wide reforms of our operation, ecosystem, business model, and social and inconsistency)
DX LV2
Sapling
Sproutrelations. Following this roadmap, we will ramp up our DX efforts with the
DX LV1Seed
aim of maximizing the business of the Tokyo Boeki Group. First, in orderto realize operational reform (company-wide operation reform), we will DX maturity
Roadmap TOMAX: Future Creation Strategy
start by analyzing the current circumstances and identifying issues.
[Operational reform/

Social reform-WatchwordEnhancing our raison d’êtreDX LV4Grown tree

TOKYO BOEKI GROUP

10

CLOSE-UP
Introduction of Group Companies
Materials, Resource and Metal Industry Group

Basic Facts

Established
October 1, 2006
Head Office
KYOBASHI EDOGRAND, 2-2-1 Kyobashi, Chuo-ku, Tokyo
Sales Offices in Japan Chiba, Keihin, Kashima, Wakayama, Kurashiki, Fukuyama
Representative Office in Asia Jakarta, Indonesia
Tokyo Boeki (China) Ltd.
We supply a variety of materials, resources, and steel products to a number of Affiliate
President
Hiroshi Shigezumi
markets in the world. Through our digital solution business, we are working to Capital Stock
400 million yen
expand our operations and develop new products.
Number of Employees 50 (March 31, 2021)

TOKYO BOEKI MATERIALS LTD.

Tokyo Boeki Materials Ltd. expand sales of high-quality and cost-effective refractory products, export and tripartite trade business of steel products,
and supply of raw and auxiliary materials for steelmaking and mechanical equipments in the three fields of materials, steel, and resources, ourinitiatives span the globe with the motto of being useful to customers. Unique functions and services, including everything from product andtechnology development to business structuring, as well as our private-label products, are provided to customers world-wide in all the businesssegments, through our strategic business investments made inside and outside of Japan.
We will continue to precisely grasp the needs of our customers, and pursue unrivaled services using our accumulated know-how and foresight.

Material businessWe supply a wide range of refractory products, from high quality,
cost effective, shaped refractory products, to unshaped refractory
products. We also provide total ser vices, from the supply ofrefractory raw materials, to product development, production,and sales, as well as the promotion of digital solutions and theprovision of after-sales service. In the ceramics business, we
provide integrated ser vices, from design and production, toconstruction and maintenance as an engineering partner.

Rich network in China
4

China

2 7

5 8
3
Refractory bricks

1

Steel businessWe provide a stable supply of value-added steel products, including
flat steel products and steel bars, primarily to the Southeast Asianmarket and other markets in the world. We are also working on
establishing a new business in the local markets.

Steel and stainless steel[Affiliate]
Tokyo Boeki (China) Ltd.
[Branch offices]11

TOKYO BOEKI GROUP[Offices]

1 Shanghai Branch Office 3 Jinan OfficeResources and raw materials businessWe procure and supply coal, coke, ferroalloys, and in particular,
raw materials and mechanical equipment required by the steel
industry, from China, Australia, Russia, India, Indonesia, Vietnam,
and other countries.

6

2 Beijing Branch Office 4 Shenyang Office
5 Shanxi Office[Joint venture companies]
6 Jinan Ludong Refractory Co., Ltd.
Coke

7 Beijing Borui Tomas Motor Sales & Service Co., Ltd.
8

Shanxi Jincheng Coal Chemical Industry Development Co., Ltd.

CONSOLIDATED COMPANIESDomestic Group Companies

Overseas Group Companies

TB-eye Ltd.

USA

President: Wonyong Kim
Business Description: Import, development, manufacture, sales, design andinstallation of security devices and related after-sales service
Development and sales of various solutions using AI andimage analysis technology
Development, manufacture, and sales of various
communication devices, such as intercoms

TOKYO BOEKI NORTH AMERICA, INC. (KENTUCKY)TB Global Technologies Ltd.
President: Hideshige Tsubouchi
Business Description: D evelopment, design, manufacture and sales of fluid
loading equipment and machinery, etc. as well as related
after-sales service Development of robot business andOrganic Rankine Cycle (ORC) equipment and other newenergy-related businesses.
Import/Export of laboratory instruments and equipment,
industrial devices, etc.

TOKYO BOEKI MATERIALS LTD.
President: Hiroshi Shigezumi
Business Description: Business development and import/export related to materials,resources, and metals

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, and maintenance of 3D measurement instruments
and related software

President: Yasunori Inoyama
Business Description: S ales and service of 3D measurement instruments andrelated software

CHINA

TOKYO BOEKI (CHINA) LTD. (SHANGHAI)
President: Masaaki Sugihara
Business Description: M aterials, resources, steel business, and new businessdevelopment in China

TTS (GUANGZHOU) CO., LTD. (GUANGZHOU)
President: Yukimasa Kuramochi
Business Description: S ales and service of 3D measurement instruments andrelated software

THAILANDTBTS (THAILAND) CO., LTD. (BANGKOK)
President: Taro Nakazato
Business Description: S ales and service of 3D measurement instruments andrelated software

CIS

TOKYO BOEKI (RUS) LTD. (MOSCOW)
General Director: Keiji Takigawa
Business Description: I mport/export of laboratory instruments and equipment
for educational, science and technology-related facilities
in CIS nations.

TOKYO BOEKI MECHANICS LTD.
President: Shigeru Moriyama
Business Description: Design, development, manufacture, sales, and maintenance of gas-related devices

TOKYO BOEKI MEDISYS INC.
President: Sanshiro (Tomihiro) Katoh
Business Description: Development, manufacture, and sales of automatedanalyzers used in clinical examinations for hospitals andmedical testing facilities

T.B. TECH CO., LTD.
President: Yasuhide Kanai
Business Description: Contract development of software and packaged software, building network systems, system outsourcing,consultancy services

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

As of June 25th 2021
TOKYO BOEKI GROUP

12

FINANCIAL REVIEW
Financial Highlights
Net Sales

42,449(Million yen)

44,90044,07247,091

Operating Income

5,178

42,299
3,648

2016

2017

2018

2019

Ordinary Income(Million yen)

2020

3,970

4,169

2017

2018

2016

(Million yen)

4,162

4,410

2019

2017

2018

2,812

4,181

2019

2020

Earnings Per Share

2,994
1,946

2016
(Yen)

2017

832

408

394

2016

13

TOKYO BOEKI GROUP

35,123

653

2017

2018

2019

2020

2018

2019

2020

Total Assets / Net Assets
Total Assets

595(Million yen)

3,756

2,020

2016

2020

Net Income Attributable to Owners of Parent

5,338
3,963

3,797

2016

Net Assets

37,111

22,445(Million yen)

40,75824,8752017

42,972

27,322

2018

42,05730,542

2019

32,1392020

Consolidated Financial Statements
Consolidated Balance Sheets
Account Item

(Million yen)

2020

2019

As of March 31, 2021

As of March 31, 2020

AssetsConsolidated Statements of Income
Account Item

(Million yen)

2020

2019

April 1, 2020 –March 31, 2021

April 1, 2019 –March 31, 2020

Net sales

42,29947,091

Current assets

33,46533,782

Cost of sales

27,16230,594Non-current assets

8,591

9,189

Gross profit

15,136

16,496

3,321

3,556

Selling, general & administrative expenses

11,33911,318706

743

Operating income

3,797

5,178

4,562

4,889

Non-operating income

556

413

42,05742,972Non-operating expenses

172

253

Ordinary income

4,181

5,338

Extraordinary loss

1,040

ー

Income before income taxes

3,141

5,338

Income taxes

1,185

1,576

Net income

1,955

3,762

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

Current liabilities
Non-current liabilities
Total liabilities

9,127

11,473

790

956

9,917

12,430Net assets

31,11829,804

Net income attributable to non-controlling interests

95

Capital stock

5,000

5,000

Net income attributable to owners of parent

1,946

3,756

Retained earnings

26,68225,368Treasury stock

△ 564

△ 564

Accumulated other comprehensive income

833

549

Non-controlling interests

187

187

Total net assets

32,13930,542

Total liabilities and net assets

42,05742,972

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

TOKYO BOEKI GROUP

14

COMPANY OUTLINE / STOCK INFORMATION
Company Outline (As of March 31, 2021)
Tokyo Boeki GroupTokyo Boeki Holdings Corporationand 15 group companies

Established

October 30, 1947

Capital Stock

5.0 billion yen(Shareholders’ equity: 31.1 billion yen)

Employees

975Tokyo Boeki Holdings Corporation
Head Office(Pure holding company) KYOBASHI EDOGRAND
2-2-1 Kyobashi, Chuo-Ku, Tokyo
104-0031 Japan

Executives of Tokyo Boeki Holdings Corporation (As of June 25, 2021)
Board of Directors / Operating Officers
Representative Director, Chairman & CEO

Hiroshi Machida

Representative Director, President

Sanshiro (Tomihiro) Katoh

Director, Executive Vice President

Hideshige Tsubouchi

Director

Wonyong Kim

Stock Information (As of March 31, 2021)
Total Number of Authorized Shares
Total Number of Stocks Issued

Number of Shareholders

Name of Shareholder

Hideyuki Kikuchi

Audit & Supervisory Board Member

Hideyuki Maeno

Audit & Supervisory Board Member

Miho Numata

Numbers ofRatio of
Stocks Held Shareholding

Tokyo Boeki Ltd.

1,700,000 shares

28.42%

Tokyo Boeki Employee Share Holding Commission

605,000 shares

10.12%

Tokyo Marine & Nichido Fire Insurance Co., Ltd.

498,000 shares

8.33%

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.

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

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

Board of Corporate Auditors
Standing Audit & Supervisory Board Member

38,519,920 shares
Common Stock 4,281,140 shares(Excludes treasury stock)
Class A Preferred Stock 1,700,000 shares
125

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