Key Points
Increased sales in all business segments and increased operating income in mainly semiconductors
and energy business
Net sales FY2020/Q1-Q3 2,099.5 billion yen → FY2021/Q1-Q3 2,355.1 billion yen (YoY +255.6 billion yen)
Operating income FY2020/Q1-Q3 24.0 billion yen → FY2021/Q1-Q3 87.6 billion yen (YoY +63.6 billion yen)
YoY free cash flow improved and the amount of orders received steadily increased
Free cash flow FY2020/Q1-Q3 18.1 billion yen → FY2021/Q1-Q3 84.0 billion yen (YoY +65.9 billion yen)
Amount of orders received YoY increased by 11%
Revision to FY2021 operating income forecast due to further visible impact of soaring material cost
and logistics cost, and semiconductor shortage
Operating income Previous forecast 170.0 billion yen → Forecast 155.0 billion yen (vs. previous -15.0 billion
TOSHIBA TO HOLD EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS ON MARCH 24TH
Recommends Shareholders Vote in Favor of Toshiba’s Proposal Confirming Support for its Value
Enhancing Separation Plan and Against 3D’s Proposals
TOKYO, Japan — February 14, 2022 — Toshiba Corporation (TOKYO: 6502) (“Toshiba” or the “Company”) today
announced that it will hold an extraordinary general meeting of shareholders (“EGM”) on March 24th relating to its
Strategic Reorganization plan to enhance shareholder value
As previously announced, Toshiba intends to separate into two independent, publicly traded companies:
• Toshiba/ Infrastructure Service Co., comprising Toshiba’s Energy Systems & Solutions, Infrastructure
Systems & Solutions, Digital Solutions and Battery businesses, in addition to Toshiba’s ownership stake in
Kioxia Holdings Corporation (“KHC”); and
• Device Co.1, consisting of Toshiba’s Electronic Devices & Storage Solutions business.
The Strategic Reorganization will create two distinctive companies leading their respective industries in realizing the target of carbon neutrality and enhancing infrastructure resilience and supporting the evolution of social and ITinfrastructure. This will allow each business to strengthen its competitiveness through clarifying growth strategies,facilitating more agile decision-making and optimizing cost structures, and deliver sustainable and profitable growth and enhanced shareholder value
Satoshi Tsunakawa, Interim Chairperson, President and Chief Executive Officer of Toshiba, said: “Toshiba’s separation plan was decided by the Board based on the recommendation by the Strategic Review Committee following approximately five months of its detailed work, which included numerous conversations with shareholders,potential investors, market participants and other outside parties, to determine the best path to enhance corporate value, and thereafter was refined in order to increase the certainty. The Board and management team are confident that creating two more focused and agile standalone companies is the fastest, most effective and efficient way to deliver sustainable profitable growth, enhanced shareholder value and compelling benefits to customers, business partners and employees.
“We put forward our non-binding EGM proposal to confirm shareholder support and continue to get their feedback as part of our commitment of having an open and constructive dialogue. We will also give shareholders a final voice in the Strategic Reorganization after the details are finalized, and will seek a formal vote at our 2023 annual shareholders’ meeting.
