July 13, 2023

Consolidated Financial Results for the Fiscal Year Ended May 31,2023(Under Japanese GAAP)
Company name:Toyo Denki Seizo K.K.
Listing:
Tokyo Stock Exchange
Securities code:
6505
URL:
https://www.toyodenki.co.jp
Representative:
Akira Watanabe, President, Representative Director
Inquiries:
Jun Nukina, Operating Officer, General Manager, Management Planning DivisionTel.:+81-3-5202-8122
Scheduled date of annual general meeting of shareholders:August 29, 2023
Scheduled date to commence dividend payments:
August 30, 2023
Scheduled date to file annual securities report:
August 30, 2023
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes(Yen amounts are rounded down to millions, unless otherwise noted.)1.

Consolidated financial results for the fiscal year ended May 31, 2023 (from June 1, 2022 to
May 31, 2023)(1) Consolidated operating results(Percentage figures show year-on-year increase or decrease.)
Net sales
Fiscal year ended

Operating profit

Millions of yen% Millions of yen

Profit attributable toowners of parent

Ordinary profit% Millions of yen% Millions of yen%

May 31, 2023

31,025

2.9

517

201.1

987

28.8

824

—

May 31, 2022

30,158(9.0)

171(59.4)

766

1.2

(930)

—

Note: Comprehensive income

For the fiscal year ended May 31, 2023: ¥2,373 million [-%]For the fiscal year ended May 31, 2022: ¥(1,727) million [-%]

Basic earnings per
share

Diluted earnings
per share

Ratio of ordinary
Ratio of operating
profit to total assets profit to net sales
%
%
%
3.5
2.0
1.7
(4.0)
1.5
0.6

Return on equity

Fiscal year ended
Yen
Yen
May 31, 2023
91.85—
May 31, 2022
(104.02)—
Reference: Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended May 31, 2023: ¥221 million
For the fiscal year ended May 31, 2022: ¥242 million(2) Consolidated Financial Position
Total assets
As of
May 31, 2023
May 31, 2022
Reference: Equity

Net assets

Millions of yen
Millions of yen
49,682
24,582
46,91622,012As of May 31, 2023: ¥24,582 million
As of May 31, 2022: ¥22,012 million

Equity-to-asset ratio
%
49.5
46.9

Net assets per share
Yen

2,605.99
2,462.17(3) Consolidated Cash Flows
Fiscal year ended
May 31, 2023
May 31, 2022

Cash flows from operating Cash flows from investing Cash flows from financing Cash and cash equivalents
activities
activities
activities
at end of period
Millions of yen
Millions of yen
Millions of yen
Millions of yen
815
635
(390)
5,520
2,504
289
(2,356)4,449

2.

Cash dividends
Annual dividends per shareFirst
quarterend

Secondquarterend

Yen

Yen

Yen

Yen

Yen

Millions of
yen

%

%

—

0.00

—

30.00

30.00

268

—

1.2

—

0.00

—

30.00

30.00

286

32.7

1.2

—

0.00

—

30.00

30.00

Fiscal year ended
May 31, 2023
Fiscal year ended
May 31, 2022
Fiscal year ending
May 31, 2024
(forecast)3.

Ratio of
Payout ratio dividends(Consolidat to net assets
ed)(Consolidat
ed)

Total cash
dividends(Total)Third
Fiscal yearquarter-end
end

Total

35.4

Consolidated financial results forecast for the fiscal year ending May 31, 2024 (from June
1, 2023 to May 31, 2024)(Percentages indicate year-on-year changes.)
Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings per
share

Millionsof yen%Millionsof yen%Millionsof yen%Millionsof yen%Yen

Six months ending
November 30, 2023

15,900

15.0

(120)

—

50

(74.7)

180

575.2

19.08

Fiscal year ending

34,500

11.2

600

15.9

950

(3.8)

800

(3.0)

84.81

May 31, 2024

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scopeof consolidation):
None
Newly included: - companies (company name)
Excluded:- companies (company name)(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: Yes(iv) Restatement: None
(3) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of May 31, 2023
As of May 31, 2022

9,735,000 shares
9,735,000 shares(ii) Number of treasury shares at the end of the period
As of May 31, 2023
As of May 31, 2022

301,843 shares
794,608 shares(iii) Average number of shares for the period
Fiscal year ended May 31, 2023
Fiscal year ended May 31, 2022

8,977,971 shares
8,940,590 shares(Reference) Overview of non-consolidated financial results
1. Non-Consolidated Business Results for the fiscal year ended May 31, 2023 (from June 1, 2022 to May 31,2023)(1) Non-consolidated operating results

Fiscal year ended
May 31,2023
May 31,2022

Net sales
Millions of yen
26,811
25,834(Percentage figures show year-on-year increase or decrease.)
Operating profit
Ordinary profit
Profit% Millions of yen% Millions of yen% Millions of yen
%
3.8
(66)
—
444
29.6
551
—
(9.3)
(343)
—
342
(52.9)(1,144)—

Basic earnings per share
Fiscal year ended
May 31,2023
May 31,2022

(2)

Yen
61.44
(127.99)

Diluted earnings per
share
Yen
—
—

Non-consolidated financial position

Total assets
As ofMillions of yen
May 31,2023
45,542
May 31,2022
43,154
Reference: Equity
As of May 31,2023:
As of May 31,2022:

Net assets
Millions of yen
19,71017,590Equity-to-asset ratio
%
43.3
40.8

Net assets per shareYen
2,089.45
1,967.57¥19,710 million¥17,590 million* The Summary of Consolidated Business Results is not subject to auditing by a certified public accountant or audit
firm.
* Proper use of earnings forecasts, and other special matters
The forecasts for business results presented in this document are based on management’s assumptions and beliefs inlight of currently available information. Toyo Denki Seizo K.K. (hereinafter Toyo Denki) cautions readers that due to avariety of factors actual results may differ materially from forecasts. Please refer to “(4) Outlook” in “1. Overview ofbusiness results, etc.” on page 3 for details relating to performance forecasts.
* This document has been translated from a part of the Japanese original for reference purposes only. In the event ofany discrepancy between this translated document and the Japanese original, the original shall prevail.

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

3. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
As of May 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets
Electronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Advance payments to suppliers
Accounts receivable - other
Other
Allowance for doubtful accounts

As of May 31, 2023

4,449
12,091
1,136
501
3,077
2,688
8
25
212
(1)

5,520
13,236
1,116
376
3,106
2,836
22
162
370
(10)

24,18926,738

10,326(6,341)

9,952(6,340)

Buildings and structures, net

3,985

3,611

Machinery, equipment and vehicles
Accumulated depreciation

8,185(7,605)8,208(7,860)Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

Machinery, equipment and vehicles, 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 non-current assets
Total assets

579

348

1,270
7
4,977
(4,497)

1,269
11
5,138
(4,678)

479

459

6,322

5,701

87
14

63
13

101

77

12,471
883
2,953
(6)

14,288
108
2,775
(7)

16,302

17,16522,726

22,943

46,916

49,682

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023
(Millions of yen)
As of May 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Accrued expenses
Income taxes payable
Accrued consumption taxes
Contract liabilities
Deposits received
Provision for bonuses for directors (and other officers)
Provision for bonuses
Provision for loss on orders received
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Long-term accounts payable - other
Retirement benefit liability
Other
Total non-current liabilities

As of May 31, 2023

1,610
4,205
585
688
306
82
47
190
6
699
963
6
176

2,060
4,768
885
589
128
94
84
189
39
673
989
70
127

9,569

10,699

11,17338
4,113
6

10,28830
4,075
415,333

14,399Total liabilities

24,90325,099Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares

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

4,998
3,177
11,347(486)

18,016

19,036

3,913
144
(61)

5,370
202
(26)

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

3,996

5,546

22,012

24,582

46,916

49,682

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statements of Income
Fiscal year ended May 31,
2022(June 1, 2021 to May 31
2022)(Millions of yen)
Fiscal year ended May 31,
2023(June 1, 2022 to May 31
2023)

Net sales
Cost of sales

30,15823,34331,02523,828Gross profit

6,815

7,197

Selling, general and administrative expenses

6,643

6,679

Operating profit

171

517

Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Foreign exchange gains
Subsidy income
Miscellaneous income

0
153
242
227
20
39

1
190
221
104
—
33

683

550

58
3
4
23

52
3
1
24

Total non-operating income
Non-operating expenses
Interest expenses
Commission expenses
Loss on abandonment of non-current assets
Miscellaneous losses
Total non-operating expenses

89

81

Ordinary profit

766

987

Extraordinary income
Gain on reversal of foreign currency translation adjustment
Gain on sale of non-current assets
Gain on sale of investment securities

94
—
366

—
150
530

460

681

—
2,256
45
155

513
—
—
—

Total extraordinary income
Extraordinary losses
Business structural reform expenses
Impairment losses
Loss on valuation of investment securities
Loss on valuation of investments in capital of subsidiaries andassociates
Total extraordinary losses
Profit (loss) before income taxes

2,456

513

(1,230)1,155

Income taxes - current
Income taxes - deferred

403
(703)

205
124

Total income taxes

(299)

330

Profit (loss)

(930)

824

Profit (loss) attributable to owners of parent

(930)

824

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023
Consolidated Statement of Comprehensive Income

Profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted for using
equity method
Total other comprehensive income

Fiscal year ended May 31,
2022(June 1, 2021 to May 31
2022)(Millions of yen)
Fiscal year ended May 31,
2023(June 1, 2022 to May 31
2023)

(930)

824

(889)
2
35
53

1,456
—
35
57

(797)

1,549

Comprehensive income(1,727)2,373

Comprehensive income attributable to:
Owners of parent
Non-controlling interests(1,727)—2,373—

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

(3) Consolidated Statement of Changes in Equity
For the fiscal year ended May 31, 2022 (from June 1, 2021 to May 31, 2022)(Millions of yen)
Shareholders’ equity

Share
capitalBalance at beginning of
periodCapitalsurplusRetainedearnings

Accumulated other comprehensive income

Valuation
Total
Remeasuredifference Foreign
accumulat Total net
Total
ments ofTreasuryoncurrency
ed otherassetsshareholde
definedavailable- translation
comprehensharesrs’ equity
benefitfor-sale adjustment
sive
plans
securities
income

4,998

3,177

12,320(1,281)

19,214

4,803

88

(97)

4,793

24,008Dividends of surplus

—

—

(268)

—

(268)

—

—

—

—

(268)

Profit (loss)
attributable to ownersof parent

—

—

(930)

—

(930)

—

—

—

—

(930)

Purchase of treasury
shares

—

—

—

(0)

(0)

—

—

—

—

(0)

Disposal of treasury
shares

—

—

—

—

—

—

—

—

—

—

Transfer of loss on
disposal of treasury
shares

—

—

—

—

—

—

—

—

—

—

Net changes in items
other thanshareholders’ equity

—

—

—

—

—

(889)

56

35

(797)

(797)

Total changes during
period——(1,198)(0)(1,198)

(889)

56

35

(797)

(1,996)

Balance at end of period

4,998

3,177

11,122(1,282)18,016

3,913

144

(61)

3,996

22,012

Changes during period

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

For the fiscal year ended May 31, 2023 (from June 1, 2022 to May 31, 2023)(Millions of yen)
Shareholders’ equity

Share
capitalAccumulated other comprehensive income
Valuation Foreign
Total
Remeasur
Total
difference currency
accumulat
ements ofshareholdontranslatio
ed otherdefineders’availablencomprehebenefitfor-sale adjustmen
nsiveequityplans
securitiest
incomeTotal net
assetsCapitalsurplusRetainedearnings

Treasuryshares

4,998

3,177

11,122(1,282)18,016

3,913

144

(61)

3,996

22,012

Dividends of surplus

—

—

(268)

—

(268)

—

—

—

—

(268)

Profit (loss)
attributable to ownersof parent

—

—

824

—

824

—

—

—

—

824

Purchase of treasury
shares

—

—

—

(0)

(0)

—

—

—

—

(0)

Disposal of treasury
shares

—

(331)

—

796

464

—

—

—

—

464

Transfer of loss on
disposal of treasury
shares

—

331

(331)

—

—

—

—

—

—

—

Net changes in items
other thanshareholders’ equity

—

—

—

—

—

1,456

57

35

1,549

1,549

Total changes during
period

—

—

225

795

1,020

1,456

57

35

1,549

2,569

Balance at end of period

4,998

3,177

11,347(486)

19,036

5,370

202

(26)

5,546

24,582

Balance at beginning of
periodChanges during period

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

(4) Consolidated Statement of Cash Flows

Cash flows from operating activities
Profit (loss) before income taxes.
Depreciation
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using equity method
Subsidy income
Loss (gain) on sale of property, plant and equipment
Loss (gain) on sale of investment securities
Loss (gain) on valuation of investment securities
Gain on reversal of foreign currency translation adjustment
Business structural reform expenses
Loss on valuation of investments in capital of subsidiaries andassociates
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in provision for loss on orders received
Increase (decrease) in provision for product warranties
Increase (decrease) in contract liabilities
Increase (decrease) in accrued expenses
Increase (decrease) in accrued consumption taxes
Other
SubtotalInterest and dividends received
Interest paid
Subsidies received
Income taxes refund (paid)
Cash flows from operating activities
Cash flows from investing activities
Purchases of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchases of investment securities
Proceeds from sale of investment securities
Proceeds from liquidation of subsidiaries
Loan advances
Proceeds from collection of loans receivable
Other
Cash flows from investing activities

Fiscal year ended May 31,
2022(June 1, 2021 to May 31,
2022)(Millions of yen)
Fiscal year ended May 31,
2023(June 1, 2022 to May 31,
2023)(1,230)

1,155

1,257
2,256
(0)
(128)
5
(154)
58
(242)
(20)
—
(366)
45
(94)
—

840
—
9
(26)
(22)
(191)
52
(221)
—
(150)
(530)
—
—
513

155

—

891
633
(557)
99
(0)
13
97
(124)
(31)

(1,125)
(51)
1,012
25
63
36
(98)
11
(205)

2,562

1,097

162
(60)
20
(180)

201
(53)
—
(429)

2,504

815

(351)
14
(18)
(73)
466
283
—
15
(45)

(324)
266
(17)
(14)
818
—
(50)
—
(42)

289

635

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023
(Millions of yen)
Fiscal year ended May 31, Fiscal year ended May 31,
2022
2023
(June 1, 2021 to May 31,(June 1, 2022 to May 31,
2022)
2023)
Cash flows from financing activities(1,500)—

Repayments of long-term borrowings
Purchase of treasury shares

(585)
(0)

(585)
(0)

Proceeds from disposal of treasury shares
Dividends paid

—
(269)

464
(267)

(1)

(2)

(2,356)(390)

Net increase (decrease) in short-term borrowings

Other
Cash flows from financing activities
Effect of exchange rate change on cash and cash equivalents

48

10

Net increase (decrease) in cash and cash equivalents

485

1,070

Balance of cash and cash equivalents at the beginning of the period

3,964

4,449

Balance of cash and cash equivalents at the end of the period

4,449

5,520

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

(5) Notes on Consolidated Financial Statements(Notes on Going Concern Assumption)
Not applicable(Changes in accounting estimates)(Provision for product warranties)
While proceeding with a thorough improvement in earnings structure of existing businesses, the Company has establishedthe method for accumulating and collecting data necessary for grasping the future free-of-charge repair costs of alreadydelivered finished goods and others. Since this method has made it possible to make more accurate estimates, theCompany has changed estimates.
As a result, operating profit, ordinary profit and profit before income taxes decreased by 55 million yen, respectively,
compared with their amounts calculated by the previous method.
In the consolidated financial statements for the previous consolidated fiscal year, “Provision for product warranties” wasincluded in “Provision for loss on orders received” of “Current liabilities.” However, as a result of changes in accounting
estimates, its importance has increased. Therefore, the amount is separately indicated as “Provision for product warranties”
from the consolidated fiscal year under review. The consolidated financial statements for the previous fiscal year havebeen reclassified to reflect this change in presentation.
As a result, the amount of 6 million yen, shown in “Provision for loss on orders received” of “Current liabilities” in the
consolidated balance sheet for the previous fiscal year, has been reclassified as 6 million yen in “Provision for productwarranties.” In addition, the amount of (0) million yen, shown in “Increase (decrease) in provision for loss on orders
received” of “Cash flows from operating activities” in the consolidated statement of cash flows for the previous fiscal
year, has been reclassified as “Increase (decrease) in provision for product warranties.”(Additional information)(Accounting Treatment for Application of Group Tax Sharing System)
The Company and its domestic consolidated subsidiaries will shift from the non-consolidated taxation system to the grouptax sharing system from the next consolidated fiscal year. Additionally, with regard to accounting treatment and disclosure
related to tax effect accounting for corporation tax and local corporation tax, the Company has adopted the Practical
Solution on Accounting and Disclosure Under the Group Tax Sharing System (ASBJ PITE No. 42 on August 12, 2021)
from the consolidated fiscal year under review.

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

(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 and toassess 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 three reporting segments
by product based on the business units, which are “Transportation Business,” “Industry Business,” and “ICT Solution
Business.”<Details of Each Segment>Transportation Business
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.

Industry Business
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.



ICT Solution Business
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 profit. Inter-segment sales and transfers are recorded at the same prices
used in transactions with third parties.

3

Information regarding net sales, profit (loss), assets and liabilities, and other items by reporting segment

For the fiscal year ended May 31, 2022 (from June 1, 2021, to May 31, 2022)
Reporting segments
Transportation
Business

Industry
Business

ICT
Solution
Business

Other(Note)

Total(Millions of yen)Amountrecorded on
Adjustment
consolidated
Amountstatements
of incomeNet sales
Net sales to external
19,4569,902
790
930,158—30,158customers
Inter-segment sales and
10
0
—
329
340
(340)
—
transfers
Total
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
16,276
10,068691
434
27,471
19,444
46,916
Other items
Depreciation
513
470
21
3
1,008
248
1,257
Impairment losses
—
2,256
—
—
2,256
—
2,256
Increase in property,
plant and equipment
164
115
4
—
284
31
315
and intangible assets(Note) ‘Other’ is a business segment that is not included in reporting segments, and includes the worker dispatching business.

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

For the fiscal year ended May 31, 2023 (from June 1, 2022, to May 31, 2023)(Millions of yen)
Reporting segments
Adjustment
AmountAmountrecorded on
consolidated
statements
of income

31,025—31,025

299

334

(334)

—

1,256
413
835

306
(14)
427

31,3593,137
28,237(334)(2,619)21,44431,025517
49,682

337

18

2

775

64

840

68

3

1

242

67

310

Other
(Note)ICT
Solution
Business

Total

Transportation
Business

Industry
Business

19,857

9,905

1,256

6

33

1

—

19,8902,259
15,395

9,906
479
11,579416
168

Net sales
Net sales to externalcustomers
Inter-segment sales andtransfers
Total
Segment profit (loss)
Segment assets
Other items
Depreciation
Increase in property,
plant and equipment
and intangible assets(Note) ‘Other’ is a business segment that is not included in reporting segments, and includes the worker dispatchingbusiness.
4 Description of nature and amounts of differences between reporting segment total and consolidated financial
statements(Millions of yen)
Net sales
Reporting segment total
Net sales under the Other category
Inter-segment elimination
Net sales in consolidated financial statements

Fiscal year ended May 31,
2022
30,160338(340)
30,158

Fiscal year ended May 31,
2023
31,053306(334)
31,025

Fiscal year ended May 31,
2022
2,810
(19)
(0)
(2,619)171

Fiscal year ended May 31,
2023
3,152
(14)
(0)
(2,619)517(Millions of yen)
ProfitReporting segment total
Profit under the Other category
Inter-segment elimination
Companywide expenses
Operating profit in consolidated financial statements(Note) Companywide expenses are primarily selling expenses and general and administrative expenses not belonging
to any reporting segment.
(Millions of yen)
AssetsReporting segment total
Assets under the ‘Other’ category
Inter-segment elimination
Companywide assets
Total assets in consolidated financial statements

Fiscal year ended May 31,
2022
27,037434(547)
19,991
46,916

Fiscal year ended May 31,
2023
27,810427(574)
22,01949,682(Note) Companywide assets are primarily assets managed by the head office and not belonging to any reporting segment.

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

Reporting segment
total
Other items

FYE
May
2022

FYE
May
2023

Other
FYE
May
2022

FYE
May
2023

Adjustment AmountAmount recorded on
consolidated
statements of income

FYE
May
2022

FYE
May
2022

FYE
May
2023

FYE
May
2023

Depreciation

1,005

772

3

2

248

64

1,257

840

Impairment losses

2,256

—

—

—

—

—

2,256

—

284

240

—

1

31

67

315

310

Increase in property, plantand equipment andintangible assets

5 Disclosure of impairment losses on non-current assets for each reportable segment
Omitted since the same information is disclosed in the segment information.
6 Matters regarding changes, etc. in reporting segments
The reporting segment originally named “Information Equipment Systems” has been renamed the “ICT Solution Business”
from the three months ended August 31, 2022. This name change has no impact on the segment information.
As a result of this change, the segment information for the previous consolidated fiscal year is also presented under the
new name.

Toyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

(Per Share Information)
Fiscal year ended May
31, 2022(June 1, 2021, to May
31, 2022)

Fiscal year ended May
31, 2023(June 1, 2022, to May
31, 2023)

Net assets per share

2,462.17 yen

2,605.99 yen

Basic earnings (loss) per share(104.02) yen

91.85 yen

(Note) 1.
2.

Diluted earnings per share in the fiscal year under review are not shown because there are no potentiallydiluted shares. Diluted earnings per share for the previous consolidated fiscal year are not presented because
they represent net loss per share and there are no diluted shares.
The basis for calculating basic earnings (loss) per share is as follows.
Fiscal year ended May
31, 2022(June 1, 2021, to May
31, 2022)

Fiscal year ended May
31, 2023(June 1, 2022, to May
31, 2023)

(930)

824

—

—

Profit (loss) attributable to owners of parent related to common shares(millions of yen)

(930)

824

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

8,940

8,977

Item
Profit (loss) attributable to owners of parent (millions of yen)Amount not attributable to common shareholders (millions of yen)

(Significant Subsequent Events)
Not applicableToyo Denki Seizo K.K. (6505) Consolidated financial results for the fiscal year ended May 31, 2023

4. Other(1) Status of Production, Orders, and Sales(i) Production status
Business segment

Fiscal year ended May 31, 2022
(June 1, 2021 to May 31, 2022)
Amount(Millions of yen)

Fiscal year ended May 31, 2023
(June 1, 2022 to May 31, 2023)

Share
(%)

Amount(Millions of yen)

Share
(%)

Transportation Business

18,22964.4

19,454

63.4

Industry Business

9,385

33.2

9,645

31.4

ICT Solution Business

678

2.4

1,569

5.1

Other

—

—

—

—

Total

28,294100.0

30,669100.0(Note) Amounts are based on sales prices.
(ii) Status of Orders Received
Business segment

Fiscal year ended May 31, 2022
(June 1, 2021 to May 31, 2022)
Orders received(Millions of yen)

Fiscal year ended May 31, 2023
(June 1, 2022 to May 31, 2023)

Order backlog(Millions of yen)Orders received(Millions of yen)Order backlog(Millions of yen)Transportation Business

18,80020,80920,963

21,915

Industry Business

10,6886,200

10,8557,150

ICT Solution Business

949

264

1,421

429

Other

9

—

6

—

Total

30,44727,27533,24629,496(Note) Amounts are based on sales prices.
(iii) Sales Status
Business segment

Fiscal year ended May 31, 2022
(June 1, 2021 to May 31, 2022)
Amount(Millions of yen)

Fiscal year ended May 31, 2023
(June 1, 2022 to May 31, 2023)

Share
(%)

Amount(Millions of yen)

Share
(%)

Transportation Business

19,45664.5

19,85764.0

Industrial Business

9,902

32.8

9,905

31.9

ICT Solution Business

790

2.6

1,256

4.1

Other

9

0.0

6

0.0

Total

30,158100.0

31,025100.0(Note) Amounts are based on sales prices.

(2) Personnel changes of directors and audit & supervisory board members
Please refer to “Notice Concerning Change of Officers” released today.