TOSHIBA PLANT & SERVICES : Summary of Consolidated Financial Results for the Six Months Ended September 30, 2016

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Six Months Ended September 30, 2016 (Based on Japanese GAAP)

Company name: Toshiba Plant Systems & Services Corporation Stock exchange listing: Tokyo

Stock code: 1983 URL http://www.toshiba-tpsc.co.jp

President and Chief Executive Officer,

October 28, 2016

Representative:

Inquiries:

Representative Director

Vice President and Director, Head of Accounting Division

Ryo Matsukawa

Yoshikatsu Tanaka TEL [phone]

Scheduled date to file Quarterly Securities Report: November 7, 2016

Scheduled date to commence dividend payments: December 1, 2016 Preparation of supplementary material on quarterly financial results: Yes

Holding of quarterly financial results meeting: Yes (for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended September 30, 2016 (from April 1, 2016 to September 30, 2016)

2. Consolidated operating results (cumulative) Percentages indicate year-on-year changes

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent
   Six months ended September 30, 2016	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   	96,046	9.4	8,359	28.2	8,800	35.9	5,941	48.8
   Six months ended September 30, 2015	87,831	(6.9)	6,518	(0.5)	6,477	(7.7)	3,991	(7.7)

   Earnings per share	Diluted earnings per share
   Six months ended September 30, 2016	Yen	Yen
   	60.99	-
   Six months ended September 30, 2015	40.97	-

3. Consolidated financial position

   Total assets	Net assets	Equity ratio
   As of September 30, 2016	Millions of yen	Millions of yen	%
   	228,312	125,863	55.0
   As of March 31, 2016	238,254	121,281	50.8

4. Cash dividends

   Annual dividends per share
   1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
   Year ended March 31, 2016	Yen	Yen	Yen	Yen	Yen
   	-	25.00	-	12.50	37.50
   Year ending March 31, 2017	-	19.00
   Year ending March 31, 2017 (Forecast)	-	19.00	38.00

5. Forecast of consolidated financial results for the year ending March 31, 2017 (from April 1, 2016 to March 31, 2017)

   Percentages indicate year-on-year changes

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent		Earnings per share
   Full year	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
   	230,000	4.9	18,900	1.3	19,500	4.2	12,800	13.9	131.39

6. Notes

7. (1) Changes in significant subsidiaries during the six months ended September 30, 2016 (changes in specified subsidiaries resulting in the change in scope of consolidation):

   No

   (2) Application of special accounting methods for preparing quarterly consolidated financial statements:

   No

8. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

   Changes in accounting policies due to revisions to accounting standards and other regulations:	No
   Changes in accounting policies due to other reasons:	No
   Changes in accounting estimates:	No
   Restatement of prior period financial statements:	No

9. Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of September 30, 2016

97,656,888

shares

As of March 31, 2016

97,656,888

shares

Number of treasury shares at the end of the period

As of September 30, 2016

243,448

shares

As of March 31, 2016

243,256

shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)

Six months ended September 30, 2016

97,413,540

shares

Six months ended September 30, 2015

97,414,360

shares

Quarterly consolidated financial statements Consolidated balance sheets

(Millions of yen)
As of March 31, 2016	As of September 30, 2016
Assets
Current assets
Cash and deposits	6,430	8,943
Group finance deposits	85,534	87,986
Trade notes and accounts receivable	92,565	70,483
Electronically recorded monetary claims - operating	508	189
Inventories	25,248	31,610
Other current assets	9,166	9,652
Less: allowance for doubtful accounts	(312)	(302)
Total current assets	219,141	208,563
Long-term assets
Property, plant and equipment, at cost	6,692	7,008
Intangible assets	252	214
Investments and other assets
Other	12,292	12,649
Less: allowance for doubtful accounts	(123)	(123)
Total investments and other assets	12,168	12,525
Total long-term assets	19,112	19,748
Total assets	238,254	228,312
Liabilities
Current liabilities
Trade notes and accounts payable	47,635	38,457
Accrued income taxes	5,888	3,039
Advances received on uncompleted construction contracts	13,349	15,729
Allowance for bonuses to directors and statutory auditors	93	58
Completed work compensation reserve	1,048	864
Provision for loss on construction contracts	204	-
Other current liabilities	13,234	11,044
Total current liabilities	81,455	69,193
Long-term liabilities
Accrued directors' retirement benefits	27	32
Liability for retirement benefit	35,197	32,872
Other long-term liability	292	350
Total long-term liabilities	35,517	33,254
Total liabilities	116,972	102,448

(Millions of yen)
As of March 31, 2016	As of September 30, 2016
Net assets
Shareholders' equity
Common stock	11,876	11,876
Capital surplus	20,910	20,910
Retained earnings	94,726	99,448
Treasury stock, at cost	(164)	(164)
Total shareholders' equity	127,348	132,070
Accumulated other comprehensive income
Deferred gains or losses on hedges	(290)	(592)
Currency translation adjustments	(11)	(550)
Retirement benefits liability adjustments	(6,068)	(5,346)
Total accumulated other comprehensive income	(6,369)	(6,489)
Non-controlling interests	303	282
Total net assets	121,281	125,863
Total liabilities and net assets	238,254	228,312