TOA : Announcement of FY2022 results

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

May 2, 2023

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2023

(Under Japanese GAAP)

Company name:	TOA Corporation
Listing:	Tokyo Stock Exchange
Securities code:	6809
URL:	https://www.toa-global.com/en
Representative:	TAKEUCHI Kazuhiro, President, CEO
Inquiries:	YOSHIDA Keigo, General Manager of Accounting & Financial Department
Telephone:	[phone]

Scheduled date of Ordinary General Shareholders' Meeting:	June 21, 2023
Scheduled date to commence dividend payments:	June 22, 2023
Scheduled date to file annual securities report:	June 21, 2023
Preparation of supplementary material on financial results:	Yes
Holding of financial results briefing:	Yes (for institutional investors)

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Consolidated operating results				(Percentages indicate year-on-year changes.)
	Net sales		Operating profit	Ordinary profit	Profit attributable to
		owners of parent
Fiscal year ended	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%
March 31, 2023	45,123		10.4	1,713	(20.7)	2,104	(12.6)	1,765	20.4
March 31, 2022	40,864		0.7	2,159	(5.8)	2,407	(5.9)	1,466	(8.1)

Note: Comprehensive income	For the fiscal year ended March 31, 2023:		¥3,255 million	[123.3%]
		For the fiscal year ended March 31, 2022:		¥1,457 million	[(60.7)%]
	Basic earnings	Diluted earnings	Return on equity		Ratio of ordinary	Ratio of operating
	per share	per share		profit to total assets	profit to net sales
Fiscal year ended		Yen	Yen			%		%	%
March 31, 2023		54.51	-		3.9			3.4	3.8
March 31, 2022		45.08	-		3.3			4.0	5.3

Reference: Share of profit (loss) of entities accounted for using equity method

For the fiscal year ended March 31, 2023:	¥1 million
For the fiscal year ended March 31, 2022:	¥(1) million

(2) Consolidated financial position

	Total assets	Net assets
As of	Millions of yen	Millions of yen
March 31, 2023	64,101	48,764
March 31, 2022	60,688	46,939
Reference: Equity
As of March 31, 2023:	¥46,242 million
As of March 31, 2022:	¥44,720 million

Equity-to-asset ratio

%

72.1

73.7

Net assets per share

Yen

1,437.61

1,374.07

(3) Consolidated cash flows

	Cash flows from	Cash flows from
	operating activities	investing activities
Fiscal year ended	Millions of yen	Millions of yen
March 31, 2023	583	(2,787)
March 31, 2022	1,632	(752)

Cash flows from

financing activities

Millions of yen

(1,442)

(458)

Cash and cash

equivalents at end of

period

Millions of yen

14,399

17,264

2. Cash dividends

		Annual dividends per share			Total cash			Ratio of
							Payout ratio		dividends to
	First	Second	Third	Fiscal			dividends
	Total		(Consolidated)		net assets
	quarter-end	quarter-end	quarter-end	year-end		(Total)
				(Consolidated)
	Yen	Yen	Yen	Yen	Yen		Millions of yen	%	%
Fiscal year ended	-	10.00	-	10.00	20.00	650		44.4	1.5
March 31, 2022
Fiscal year ended	-	20.00	-	20.00	40.00	1,294		73.4	2.8
March 31, 2023
Fiscal year ending	-	20.00	-	20.00	40.00				83.0
March 31, 2024
(Forecast)

Breakdown of the dividends for the fiscal year ended March 31, 2022: Stable dividend ¥20

Breakdown of the dividends for the fiscal year ended March 31, 2023: Stable dividend ¥40

Dividends for the fiscal year ending March 31, 2024 (Forecast) will be determined by taking into account the performances on stable dividend of ¥40, aiming at a consolidated dividend payout ratio of 45%, as stated in "(5) Basic Policy on Distribution of Profits and Dividends for Current and Next Fiscal Year" on page 5

3. Consolidated financial results forecasts for the fiscal year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

								(Percentages indicateyear-on-year changes.)
	Net sales		Operating profit	Ordinary profit	Profit attributable to	Basic earnings per
		owners of parent	share
	Millions of		%	Millions of	%	Millions of	%	Millions of	%	Yen
	yen		yen	yen	yen
Fiscal year ending	48,000		6.4	2,500	45.9	2,600	23.5	1,550	(12.2)	48.19
March 31, 2024

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
2. Changes in accounting policies, changes in accounting estimates, and restatement
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
4. Number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2023	34,136,635 shares
As of March 31, 2022	34,536,635 shares

(ii) Number of treasury shares at the end of the period

As of March 31, 2023	1,970,633 shares
As of March 31, 2022	1,990,647 shares

(iii) Average number of shares outstanding during the period

Fiscal year ended March 31, 2023	32,394,969 shares
Fiscal year ended March 31, 2022	32,537,233 shares

[Reference] Overview of non-consolidated financial results

1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Non-consolidated operating results			(Percentages indicate year-on-year changes.)
	Net sales		Operating profit	Ordinary profit		Profit
Fiscal year ended	Millions of yen		%	Millions of yen	%	Millions of yen		%	Millions of yen	%
March 31, 2023	31,412		9.5	614	(19.8)	1,358		(2.8)	2,099	90.1
March 31, 2022	28,691		0.2	766	(22.0)	1,397		(3.6)	1,104	3.5

	Basic earnings	Diluted earnings
	per share	per share
Fiscal year ended	Yen	Yen
March 31, 2023	64.81	-
March 31, 2022	33.94	-

(2) Non-consolidated financial position

	Total assets	Net assets
As of	Millions of yen	Millions of yen
March 31, 2023	41,167	33,975
March 31, 2022	39,901	33,132
Reference: Equity
As of March 31, 2023:	¥33,975 million
As of March 31, 2022:	¥33,132 million

Equity-to-asset ratio

%

82.5

83.0

Net assets per share

Yen

1,056.25

1,018.04

• Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.

• Proper use of earnings forecasts, and other special matters
• • Forecasts presented herein are the current prospects based on information currently available and contain elements of uncertainty. Actual results may therefore differ from the above forecasts due to subsequent changes in the circumstances.
  • The Company plans to hold a financial results briefing session for institutional investors (through a live video link) on May 24, 2023. The video and the materials distributed at the session are scheduled to be posted on our website promptly after the session.

• Table of Contents of Attached Materials

	Index
1. Overview of Operating Results, Etc	2
(1)	Overview of Operating Results for the Fiscal Year Under Review	2
(2)	Overview of Financial Position for the Fiscal Year Under Review	3
(3)	Overview of Cash Flows for the Fiscal Year Under Review	4
(4)	Future Outlook	4
(5)	Basic Policy on Distribution of Profits and Dividends for Current and Next Fiscal Year	5
2. Basic Views on the Selection of Accounting Standards	5
3. Consolidated Financial Statements and Significant Notes Thereto	6
(1)	Consolidated balance sheet	6
(2)	Consolidated statement of income and consolidated statement of comprehensive income	8
	Consolidated statement of income	8
	Consolidated statement of comprehensive income	9
(3)	Consolidated statement of changes in net assets	10
(4)	Consolidated statement of cash flows	12
(5)	Notes to the Consolidated Financial Statements	13
	(Notes on going concern assumption)	13
	(Segment information, etc.)	13
	(Per share information)	15
	(Important subsequent events)	15
4. Non-consolidated Financial Statements	16
(1)	Non-consolidated balance sheet	16
(2)	Non-consolidated statement of income	18
(3)	Non-consolidated statement of changes in net assets	19

- 1 -