Summary of Consolidated Business Results for Fiscal 2021
July 14, 2022
Toyo Denki Seizo K.K.
Stock Exchange: Tokyo Securities Exchange, Standard
6505
URL
https://www.toyodenki.co.jp
Akira Watanabe, President
Toshihito Nakanishi, Operating Officer, General Manager, Management Planning Division
TEL: +81-35202-8122
Scheduled date of convention of ordinary general meeting of shareholders: August 25, 2022
Scheduled date of commencement of dividend payments: August 26, 2022
Scheduled date of submission of financial report: August 26, 2022
Preparation of financial report supplemental explanatory materials: Yes
Holding of financial results briefing: Yes
Company Name:
Stock Code:
Representative:
Inquiries:(Note: Amounts less than one million yen in financial statements and supplementary data are rounded down.)

1.

Consolidated Business Results for Fiscal 2021 (June 1, 2021 to May 31, 2022)(1) Consolidated Operating Results(Percentage figures show year-on-year increase or decrease.)
Net Sales
Fiscal 2021
Fiscal 2020

Operating Income

Net Income Attributable to
Owners of the Parent

Ordinary Income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

30,15833,143(9.0)(15.2)

171
423(59.4)(60.3)

766
757

1.2
(37.3)

(930)
977

—
(9.6)

(Note) Comprehensive income:Fiscal 2021
Fiscal 2020

Net Income per
Share
Fiscal 2021
Fiscal 2020

(1,727) million yen [-%]
94 million yen

Diluted Net Income
per Share

Net Income to
Shareholders’Equity Ratio

Ordinary Income toTotal Assets Ratio

Operating Income
to Net Sales Ratio

Yen

Yen

%

%

%

(104.02)109.38

—
—

(4.0)
4.1

1.5
1.4

0.6
1.3

(Reference) Equity method investment gain or loss for:Fiscal 2021
Fiscal 2020

242 million yen(4) million yen(2) Consolidated Financial Position
Total Assets

Shareholders’ Equity
Ratio

Net Assets per Share

Millions of yen

Millions of yen%

Yen

46,916
51,96722,012
24,00846.9
46.2

2,462.17
2,685.28

Fiscal 2021
Fiscal 2020
(Reference) Shareholders’ equity:

Net Assets

Fiscal 2021
Fiscal 2020

22,012 million yen
24,008 million yen(3) Consolidated Cash Flows
Cash Flow fromOperating Activities
Fiscal 2021
Fiscal 2020

Cash Flow from
Investing Activities

Cash Flow from
Financing Activities

Cash and Cash
Equivalents at the End of
the Fiscal Year

Millions of yen

Millions of yen

Millions of yen

Millions of yen

2,504
1,776

289
(155)

(2,356)
(971)

4,449
3,964

- 1 -

2.

Dividend Information
Annual Dividend
1Q

Fiscal 2020
Fiscal 2021
Fiscal 2022
(Forecast)

3.

InterimFiscal YearEnd

3Q

Total

Total Annual
Dividends

Dividend
Payout Ratio(consolidated)

Dividend on
Equity Ratio(consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

-

0.00
0.00

-

30.00
30.00

30.00
30.00

268
268

27.4
-

1.1
1.2

-

0.00

-

30.00

30.00

33.5

Consolidated Performance Forecast for Fiscal 2022 (June 1, 2022 to May 31, 2023)(Percentage figures show year-on-year increase or decrease.)

Net SalesFirst 6 months
Full year

Operating Income

Ordinary Income

Net Income
Attributable to
Owners of the
ParentNet Income per
ShareMillionsof yen%Millionsof yen%Millionsof yen%Millionsof yen%Yen

16,00034,000

8.1
12.7

(80)
450

—
161.8

160
700

—
(8.6)

300
800

61.1
—

33.56
89.48

* Notes:(1) Transfers of major subsidiaries during the period (transfers of specified subsidiaries accompanied by changes in the scope of
consolidation): No
Newly included: - companies (name of the company) Excluded: - companies (name of the company)(2)

Changes in accounting policies, changes in accounting estimates, and restatement(a) Changes in accounting policies in accordance with revisions to accounting standards and related practices: Yes(b) Any changes other than (a) above: No(c) Changes in accounting estimates: No(d) Restatement: No(3)

Number of shares outstanding (common stock)(a) Number of shares issued as of the end of
the period (including treasury stock):

Fiscal 2021

9,735,000 sharesFiscal 2020

9,735,000 shares(b) Number of shares of treasury stock as ofthe end of the period:

Fiscal 2021

794,608 sharesFiscal 2020

794,128 shares(c) Average number of shares for the period

Fiscal 2021

8,940,590 sharesFiscal 2020

8,941,272 shares- 2 -(Reference) Non-Consolidated Financial Statements
1. Non-Consolidated Business Results for Fiscal 2021 (June 1, 2021 to May 31, 2022)(1) Non-Consolidated Operating Results(Percentage figures show year-on-year increase or decrease.)
Net Sales
Fiscal 2021
Fiscal 2020

Operating Income

Ordinary Income

Net Income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

25,83428,470(9.3)(14.4)

(343)
(52)

—
—

342
728

(52.9)(23.8)(1,144)
1,150

—
30.7

Net Income per Share
Fiscal 2021
Fiscal 2020

Diluted Net Income per
Share

Yen

Yen

(127.99)
128.68——(2) Non-Consolidated Financial Position
Total Assets
Fiscal 2021
Fiscal 2020
(Reference) Shareholders’ equity:

Net Assets

Shareholders’ Equity
Ratio

Net Assets per Share

Millions of yen

Millions of yen%

Yen

43,154
48,137

17,59019,85640.8
41.2

1,967.57
2,220.82

Fiscal 2021
Fiscal 2020

17,590 million yen
19,856 million yen**

The Summary of Consolidated Business Results is not subject to auditing by a certified public accountant or audit firm.
Disclaimer concerning the proper use of business results forecasts and other relevant specific items
The forecasts for business results presented in this document are based on management’s assumptions and beliefs in light ofcurrently available information. Toyo Denki Seizo K.K. (hereinafter Toyo Denki) cautions readers that due to a variety of factors
actual results may differ materially from forecasts. Please refer to “(4) Outlook in 1. Overview of business results, etc.” on page 3
for details relating to performance forecasts.

*

This report is an abridged translation of the Japanese summary of consolidated business results, which has been prepared inaccordance with accounting principles generally accepted Japan, for reference purpose only.

- 3 -Summary of Consolidated Business Results for Fiscal 2021

3.

Toyo Denki Seizo K.K. (6505)

Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)

Fiscal 2020
(As of May 31, 2021)
AssetsCurrent assets
Cash and cash equivalents
Notes and accounts receivable - trade, and contract
assetsTrade notes and accounts receivable
Electronically recorded monetary claims - operating
Products and finished goods
Work in process
Raw materials and stored goods
Advances
Other accounts receivable
Other
Allowance for doubtful accounts
Total current assets
Fixed assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery and equipment
Accumulated depreciation
Machinery and equipment, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets- 4 -Fiscal 2021
(As of May 31, 2022)

3,964

4,449

—
13,218
901
514
3,565
2,821
7
114
196
(2)
25,30012,091
—
1,136
501
3,077
2,688
8
25
212
(1)
24,18912,338(5,928)6,410
8,397(7,430)
966
1,301
24
4,857
(4,234)622
9,325

10,326(6,341)
3,985
8,185(7,605)
579
1,270
7
4,977
(4,497)
479
6,322

289
14
303

87
14
101

13,832
223
2,988
(6)
17,037
26,666
51,967

12,471
883
2,953
(6)
16,302
22,726
46,916

Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)(Millions of yen)

Fiscal 2020
(As of May 31, 2021)
Liabilities
Current liabilities
Trade notes and accounts payable
Electronically recorded obligations - operating
Short-term debt
Accrued expenses
Income taxes payable
Consumption and other taxes payable
Contract liabilities
Advances received
Deposits received
Reserve for directors’ bonuses
Reserve for employees’ bonuses
Reserve for order losses
Other
Total current liabilities
Long-term liabilities
Long-term debt
Long-term payables
Deferred tax liabilities
Net defined benefit liability
Other
Total long-term liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Unrealized holding gains on available-for-sale securities
Foreign currency translation adjustments
Adjustments of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets- 5 -Fiscal 2021
(As of May 31, 2022)

1,668
4,705
2,085
611
161
207
—
34
193
36
827
871
224
11,628

1,610
4,205
585
688
306
82
47
—
190
6
699
970
176
9,569

11,759
17
427
4,124
1
16,33027,958

11,17338—
4,113
6
15,33324,903

4,998
3,177
12,320(1,281)
19,214

4,998
3,177
11,122(1,282)18,016

4,803
88
(97)
4,793
24,00851,967

3,913
144
(61)
3,996
22,012
46,916

Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of yen)

Net Sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating Income
Non-operating income
Interest income
Dividend income
Equity in profit of unconsolidated subsidiaries and affiliates
Foreign exchange gains
Insurance claim income related to disaster
Subsidy income
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Commission fee
Equity in loss of unconsolidated subsidiaries and affiliates
Loss on disposal of fixed assets
Miscellaneous loss
Total non-operating expenses
Ordinary Income
Extraordinary income
Gain on reversal of foreign currency translation adjustments
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Impairment losses
Loss on valuation of investment securities
Loss on valuation of investments in capital of subsidiaries
Total extraordinary losses
Income (loss) before income taxes
Income taxes: Current
Income taxes: Deferred
Total income taxes
Net Income
Net income (loss) attributable to owners of the parent- 6 -Fiscal 2020
(June 1, 2020 to May 31,
2021)

Fiscal 2021
(June 1, 2021 to May 31,
2022)

33,14325,805
7,338
6,914
423

30,15823,343
6,815
6,643
171

0
202
—
133
34
40
56
467

0
153
242
227
—
20
39
683

67
3
4
5
53
133
757

58
3
—
4
23
89
766

—
407
407

94
366
460

—
—
—
—
1,164
352
(165)
186
977
977

2,256
45
155
2,456
(1,230)
403
(703)
(299)
(930)
(930)

Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)

Consolidated Statements of Comprehensive Income

Net Income
Other comprehensive income
Unrealized holding gains on available-for-sale securities
Foreign currency translation adjustments
Adjusted amounts of defined benefit plans
Share of other comprehensive income of affiliates to which
the equity method is applied
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:
Owners of the parent
Non-controlling interests- 7 -Fiscal 2020
(June 1, 2020 to May 31,
2021)
977

(Millions of yen)
Fiscal 2021
(June 1, 2021 to May 31,
2022)
(930)

(924)
(6)
32

(889)
2
35

14
(883)
94

53
(797)
(1,727)94—(1,727)—

Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)(3) Consolidated Statements of Changes in Net Assets
For the fiscal year ended May 31, 2021 (June 1, 2020 to May 31, 2021)(Millions of yen)
Shareholders’ equity
Treasury stock

Total
shareholders’equity11,610(1,280)18,505

—

(268)

—

(268)

—

—

977

—

977

Acquisition of treasury stock

—

—

—

(0)

(0)

Net changes in items otherthan shareholders’ equity

—

—

—

—

—

Total change during fiscal period
under review

—

—

709

(0)

708

Balance as of the end of fiscal
period under review

4,998

3,177

12,320(1,281)

19,214

Capital stock

Capital surplus

4,998

3,177

Distribution of retained
earnings—

Net Income Attributable to
Owners of the Parent

Balance as of the beginning of
the fiscal period under review

Retainedearnings

Change during fiscal period
under review

Accumulated other comprehensive income
Unrealized
holding gains
on availablefor-salesecurities
Balance as of the beginning of
the fiscal period under review

Foreigncurrencytranslation
adjustments

Adjusted
amounts ofdefined benefit
plans

Total
accumulated
othercomprehensive
incomeTotal net assets

5,727

79

(129)

5,677

24,183Distribution of retained
earnings

—

—

—

—

(268)

Net Income Attributable to
Owners of the Parent

—

—

—

—

977

Acquisition of treasury stock

—

—

—

—

(0)

Net changes in items otherthan shareholders’ equity

(924)

8

32

(883)

(883)

Total change during fiscal period
under review

(924)

8

32

(883)

(174)

Balance as of the end of fiscal
period under review

4,803

88

(97)

4,793

24,008Change during fiscal period
under review- 8 -Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)

For the fiscal year ended May 31, 2022 (June 1, 2021 to May 31, 2022)(Millions of yen)
Shareholders’ equity
Treasury stock

Total
shareholders’equity12,320(1,281)

19,214

—

(268)

—

(268)

—

—

(930)

—

(930)

Acquisition of treasury stock

—

—

—

(0)

(0)

Net changes in items otherthan shareholders’ equity

—

—

—

—

—

Total change during fiscal period
under review——(1,198)(0)(1,198)

Balance as of the end of fiscal
period under review

4,998

3,177

11,122(1,282)18,016

Capital stock

Capital surplus

4,998

3,177

Distribution of retained
earnings—

Net Income Attributable to
Owners of the Parent

Balance as of the beginning of
the fiscal period under review

Retainedearnings

Change during fiscal period
under review

Accumulated other comprehensive income
Unrealized
holding gains
on availablefor-salesecurities
Balance as of the beginning of
the fiscal period under review

Foreigncurrencytranslation
adjustments

Adjustments ofdefined benefit
plans

Total
accumulated
othercomprehensive
incomeTotal net assets

4,803

88

(97)

4,793

24,008Distribution of retained
earnings

—

—

—

—

(268)

Net Income Attributable to
Owners of the Parent

—

—

—

—

(930)

Acquisition of treasury stock

—

—

—

—

(0)

Net changes in items otherthan shareholders’ equity

(889)

56

35

(797)

(797)

Total change during fiscal period
under review

(889)

56

35

(797)

(1,996)

Balance as of the end of fiscal
period under review

3,913

144

(61)

3,996

22,012

Change during fiscal period
under review- 9 -Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)(4) Consolidated Statements of Cash Flows(Millions of yen)
Fiscal 2020
(June 1, 2020 to May 31,
2021)
Cash Flow from Operating Activities
Income before income taxes
Depreciation and amortization
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in reserve for employees’ bonuses
Increase (decrease) in net defined benefit liability
Interest and dividends income
Interest expenses
Equity in loss (profit) of unconsolidated subsidiaries and affiliates
Insurance claim income related to disaster
Subsidy income
Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
Gain on reversal of foreign currency translation adjustments
Loss on valuation of investments in capital of subsidiaries
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Increase (decrease) in trade notes
Increase (decrease) in reserve for order losses
Increase (decrease) in advances received
Increase (decrease) in contract liabilities
Increase (decrease) in accrued expenses
Increase (decrease) in consumption and other taxes payable
Other
SubtotalInterest and dividends income received
Interest expenses paid
Insurance claim income related to disaster received
Subsidy received
Refund of (payments for) corporate and other taxes
Cash Flow from Operating Activities
Cash Flow from Investing Activities
Purchases of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchases of intangible assets
Purchases of investment securities
Proceeds from sales of investment securities
Proceeds from liquidation of subsidiaries
Payments of loans receivableCollection of loans receivable
Payments for investments in capital of subsidiaries
Other
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Increase (decrease) in short-term loans payable, net
Repayment of long-term debt
Purchase of treasury stock
Cash dividends paid
Other
Cash Flow from Financing Activities
Effect of exchange rate change on cash and cash equivalents
Increase (decrease) in cash and cash equivalents
Balance of cash and cash equivalents at the beginning of the period
Balance of cash and cash equivalents at the end of the period- 10 -

Fiscal 2021
(June 1, 2021 to May 31,
2022)

1,164
1,413
—
2
(49)
97
(202)
67
—
(34)
(40)
(407)
—
—
—
1,567
274
(1,743)
142
(11)
—
(14)
(103)
16
2,138
210
(68)
34
40
(580)
1,776

(1,230)
1,257
2,256
(0)
(128)
5
(154)
58
(242)
—
(20)
(366)
45
(94)
155
891
633
(557)
99
—
13
97
(124)
(31)
2,562
162
(60)
—
20
(180)
2,504

(548)
—
(43)
(14)
693
—
(111)
11
(88)
(53)
(155)

(351)
14
(18)
(73)
466
283
—
—
—
(30)
289

(83)
(617)
(0)
(268)
(1)
(971)
21
670
3,293
3,964

(1,500)
(585)
(0)
(269)
(1)
(2,356)
48
485
3,964
4,449

Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)(5) Notes on Consolidated Financial Statements(Notes on Going Concern Assumption)
Not applicable(Changes in accounting policies)(Application of Accounting Standard for Revenue Recognition, Etc.)
The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020), etc. have been applied
effective from the beginning of the fiscal year ended May 31, 2022. Consequently, revenue is recognized when control ofpromised goods or services has been transferred to the customer in the amount expected to be received in exchange forthose goods or services.
In applying the accounting standard and related guidance, the Company applies the alternative treatment set forth inparagraph (98) of the Implementation Guidance on Accounting Standard for Revenue Recognition and recognizes revenue
at the time of shipment for domestic sales of products when the period from the time of shipment to the time when controlof such products is transferred to the customer is normal.
With respect to construction contracts, the Company previously applied the percentage-of-completion method toconstruction contracts for which the outcome of the construction activity was deemed certain, and the completed-contract
method to other construction contracts. From the fiscal year ended May 31, 2022, however, for contracts whose
performance obligations are satisfied over a certain period of time, the Company estimates the progress towards complete
satisfaction of a performance obligation and recognizes revenue over a certain period of time based on the progress, while
for contracts whose performance obligations are satisfied at a certain point of time, revenue is recognized at the point
when the construction, etc. have completed. The progress towards complete satisfaction of a performance obligation is
calculated as the percentage of construction cost incurred relative to the estimated total construction cost (an input method).
The application of the Accounting Standard for Revenue Recognition, etc. is in accordance with the transitional treatment
set forth in the proviso of paragraph (84) of the Accounting Standard for Revenue Recognition. The cumulative effects ofretrospectively applying the new accounting policy prior to the beginning of the fiscal year under review have beenreflected in the balance of retained earnings at the beginning of the fiscal year under review, and the new accounting
policy has thereby been applied to the said beginning balance.
There is no impact on the profit and loss of the fiscal year under review as a result of this change. There is also no impact
on the beginning balance of retained earnings.
Due to the application of the Accounting Standard for Revenue Recognition, etc. "Trade notes and accounts receivable,"which was presented under "Current assets" in the consolidated balance sheet for the previous fiscal year, is included in"Notes and accounts receivable - trade, and contract assets" from the fiscal year under review; and "Advances received,"which was presented under "Current liabilities" in the previous fiscal year, is included in "Contract liabilities" from thefiscal year under review. In accordance with the transitional treatment set forth in paragraph (89)-2 of the AccountingStandard for Revenue Recognition, the previous fiscal year’s financial statements have not been reclassified to conformto the new presentation method.
(Application of Accounting Standard for Fair Value Measurement, Etc.)
The Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30, July 4, 2019), etc. have been applied
effective from the beginning of the fiscal year ended May 31, 2022. In accordance with the transitional treatment set forthin paragraph (19) of the Accounting Standard for Fair Value Measurement and paragraph (44)-2 of the AccountingStandard for Financial Instruments (ASBJ Statement No. 10, July 4, 2019), the Company has opted to apply the new
accounting policies prescribed in the Accounting Standard for Fair Value Measurement, etc. prospectively. This change
has no impact on the financial statements for the fiscal year under review.

- 11 -

Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)(Segment Information)[Segment Information]
1

Outline of reporting segments
The reporting segments of the Group are components for which discrete financial information is available and whose
operating results are regularly reviewed by the Board of Directors to make decisions about resource allocation andto assess performance.
The Group establishes business units by product and each business unit designs domestic and overseas
comprehensive strategies for its products and develops business activities. Accordingly, the Group consists of threereporting segments by product based on the business units, which are Transportation Systems, Industrial Systems,
and Information Equipment Systems.

[Details of Each Segment]•
Transportation Systems
Manufacturing, sales and related construction for electrical equipment used in rail vehicles, alternative rail vehicles,
and special purpose vehicles, as well as electric storage systems for railway applications, etc.
•

Industrial Systems
Manufacturing, sales and related construction for systems for industrial production and processing facilities,
automobile testing systems, power generation and source systems, water supply and sanitation equipment systems,
electrical equipment used in automobiles, etc.

•

Information Equipment Systems
Manufacturing, sales and related construction services for station operating equipment systems, remote monitoring
systems and information systems equipment, etc.

2. Basis for calculating net sales, profit (loss), assets and liabilities, and other items by reporting segment
The accounting process method for reporting segments is equivalent to the method described in “Notes on importantmatters for the preparation of consolidated financial statements.”
Segment profit is evaluated based on operating income. Inter-segment sales and transfers are recorded at the same prices
used in transactions with third parties.

- 12 -

Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)

3
Information regarding net sales, profit (loss), assets and liabilities, and other items by reporting segment
For the fiscal year ended May 31, 2021 (June 1, 2020 to May 31, 2021)
Reporting Segment
Transportation
Systems
Net Sales
Sales to third parties
Inter-segment sales
and transfers
Total

Industrial
Systems

Information
Equipment
Systems

Other(Note)

Total(Millions of yen)Amountrecorded on
Adjustment
consolidated
Amountstatements ofincome21,528

10,5411,067

533,143—33,143

50

0

—

346

397

(397)

—

21,57910,542

1,067

352

33,541(397)

33,143

Segment profit (loss)

2,211

718

267

(39)

3,157

(2,734)423

Segment assets

17,151

13,838674

479

32,144

19,822

51,967

607

527

25

4

1,165

247

1,413

—

—

—

—

—

—

—

454

113

10

2

580

51

632

Other items
Depreciation andamortization
Impairment losses
Increase in property,
plant and equipment
and intangible assets

Note: The “Other” segment includes operations not included in reporting segments, such as the dispatch of temporary staff.

For the fiscal year ended May 31, 2022 (June 1, 2021 to May 31, 2022)(Millions of yen)
Reporting Segment
Transportation
Systems
Net Sales
Sales to third parties
Inter-segment sales
and transfers
Total

Industrial
Systems

Information
Equipment
Systems

Other(Note)

Total

Adjustment
AmountAmountrecorded on
consolidated
statements ofincome19,456

9,902

790

9

30,158—30,158

10

0

—

329

340

(340)

—

19,467

9,903

790

338

30,499(340)

30,158Segment profit (loss)

2,190

477

142

(19)

2,791

(2,619)171

Segment assets

15,448

10,070691

434

26,645

20,27046,916

513

470

21

3

1,008

248

1,257

—

2,256

—

—

2,256

—

2,256

164

115

4

—

284

31

315

Other items
Depreciation andamortization
Impairment losses
Increase in property,
plant and equipment
and intangible assets

Note: The “Other” segment includes operations not included in reporting segments, such as the dispatch of temporary staff.

- 13 -

Summary of Consolidated Business Results for Fiscal 2021

4

Toyo Denki Seizo K.K. (6505)

Description of nature and amounts of differences between reporting segment total and consolidated financial
statements(Millions of yen)
Net Sales

Fiscal 2020

Fiscal 2021
33,18830,160

Sales under the Other category

352

338

Inter-segment elimination

(397)

(340)

Net sales in consolidated financial statements

33,14330,158

Reporting segment total(Millions of yen)
ProfitFiscal 2020

Fiscal 2021

Reporting segment total

3,197

2,810

Profit under the Other category

(39)

(19)

Inter-segment elimination

1(0)Companywide expenses(2,735)(2,619)423

171

Operating income in consolidated financial statements

Note: Companywide expenses are primarily selling, general and administrative expenses not belonging to any reporting segment.
(Millions of yen)
AssetsFiscal 2020

Fiscal 2021
31,665

26,210Assets under the Other category

479

434

Inter-segment elimination

(526)

(547)

Companywide assets

20,34920,817

Total assets in consolidated financial statements

51,967

46,916

Reporting segment total

Note: Companywide assets are primarily assets managed by the head office and not belonging to any reporting segment.

Other items

Reporting segment
total
Fiscal
2020

Depreciation andamortization
Impairment losses
Increase in property,
plant and equipment andintangible assets

Fiscal2021

Other
Fiscal2020

Adjustment AmountFiscal2021

Fiscal
2020

Fiscal2021(Millions of yen)Amount recorded on
consolidated
statements of income
FiscalFiscal
2020
2021

1,160

1,005

4

3

247

248

1,413

1,257

—

2,256

—

—

—

—

—

2,256

577

284

2

—

51

31

632

315

5. Disclosure of impairment losses on fixed assets for each reportable segment
Omitted since the same information is disclosed in the segment information.

- 14 -

Summary of Consolidated Business Results for Fiscal 2021

Toyo Denki Seizo K.K. (6505)(Per Share Information)
Fiscal 2020
(June 1, 2020 to May 31, 2021)

Fiscal 2021
(June 1, 2021 to May 31, 2022)

Net assets per share

2,685.28 yen

2,462.17 yen

Net income per share

109.38 yen(104.02) yen(Notes)

1. Diluted net income per share is not shown because there are no potentially dilutive shares.
2. The basis for calculating net income per share is as follows:
Items

Fiscal 2020
(June 1, 2020 to May 31, 2021)

Fiscal 2021
(June 1, 2021 to May 31, 2022)

Net income per share
Net income attributable to owners of the parent(millions of yen)

977

(930)

Amount not attributable to commonshareholders (millions of yen)——

Net income attributable to owners of the parent
related to common shares (millions of yen)

977

(930)

Average number of common shares outstanding
during the year (1,000 shares)

8,941

8,940

(Significant Subsequent Events)
Not applicable- 15 -

Summary of Consolidated Business Results for Fiscal 2021

5.

Toyo Denki Seizo K.K. (6505)

Other(1) Status of Production, Orders, and Sales(a) Production Status
Business segment

Fiscal 2020
(June 1, 2020 to May 31, 2021)
Amount(Millions of yen)

Fiscal 2021
(June 1, 2021 to May 31, 2022)

Share
(%)

Amount(Millions of yen)

Share
(%)

Transportation Systems

22,38867.2

18,22964.4

Industrial Systems

10,154

30.5

9,385

33.2

Information Equipment Systems

791

2.4

678

2.4

Other

—

—

—

—

Total

33,334100.0

28,294100.0

Note: Amounts are based on sales prices.

(b) Status of Orders Received
Business segment

Fiscal 2020
(June 1, 2020 to May 31, 2021)
Amount(Millions of yen)

Fiscal 2021
(June 1, 2021 to May 31, 2022)

Share
(%)

Amount(Millions of yen)

Share
(%)

Transportation Systems

18,81821,46518,80020,809Industrial Systems

10,597

5,415

10,688

6,200

Information Equipment Systems

633

105

949

264

Other

5

—

9

—

Total

30,05526,98630,44727,275

Note: Amounts are based on sales prices.

(c) Sales Status
Business segment

Fiscal 2020
(June 1, 2020 to May 31, 2021)
Amount(Millions of yen)

Fiscal 2021
(June 1, 2021 to May 31, 2022)

Share
(%)

Amount(Millions of yen)

Share
(%)

Transportation Systems

21,52865.0

19,45664.5

Industrial Systems

10,541

31.8

9,902

32.8

Information Equipment Systems

1,067

3.2

790

2.6

Other

5

0.0

9

0.0

Total

33,143100.0

30,158100.0

Note: Amounts are based on sales prices.

(2) Personnel changes of directors and audit & supervisory board members
Please refer to “Toyo Denki Announces Change of President and Director” released today.

- 16 -