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Presentation for FY2008 Results

For Fiscal Year ended March, 2009   - May 8, 2009

Disclaimer: The contents of these presentation materials, key points of presentation and QA and audio data of presentation have not reflected on the restatement publicly announced in September 2015. As a result, because these information therefore contains inappropriate information to be used for investment decision, please do not rely on this information if you actually intended to trade stock. Toshiba Corporation assumes no responsibility for problems resulting from or in connection with use of the information.

• PDF [194KB/24 pages]
• Earnings Release

Outline of the presentation

1. Consolidated results for FY2008

(billion yen)

	FY2008	Change from FY2007
Net Sales	6,654.5	-1,010.8
Operating income (loss)	-250.2	-496.6
Income (loss) from continuing operations, before income taxes and noncontrolling interests	-279.3	-544.3
Net income (loss)	-343.6	-471.0

• Toshiba Group addressed the need to secure profit on a company-wide basis. However, consolidated sales in FY2008 were 6,654.5 billion yen, a decrease of 1,010.8 billion yen. This result was strongly influenced by the shrinkage of the overall market caused by the fast-spreading global recession, steeper than expected declines in semiconductor prices, and by yen's sharp appreciation.
• Consolidated operating income (loss) worsened by 496.6 billion yen to -250.2 billion yen. Electronic Devices, particularly in the Semiconductor business, Digital Products, Home Appliances and Others, all saw significant income deterioration, although Social Infrastructure maintained a high-level profit. Income (loss) from continuing operations, before income taxes and minority interest worsened by 544.3 billion yen to -279.3 billion yen. This difference resulted mainly from a decrease in non-operating profit plus a loss from a write-down of securities. Net income (loss) worsened by 471.0 billion yen to -343.6 billion yen, which reflected such factors as a drawdown in deferred tax assets.

2. Financial Position and Cash Flows for FY2008

• Total assets decreased by 482.4 billion yen from the end of March 2008 to 5,453.2 billion yen.
• Shareholders' equity decreased by 575.0 billion yen to 447.3 billion yen from the end of March 2008.
• Total debt increased by 549.7 billion yen from the end of March 2008 to 1,810.7 billion yen.
• The debt-to-equity ratio as of the end of March 2009 was 405%, a 282-point worsening from the end of March 2008.
• Free cash flow was minus 351.3 billion yen, a 275.7 billion yen worsening from the same period of the previous year.

3. Projections for FY2009

(billion yen)

Consolidated forecast

	FY2009	Change from FY2008
Net Sales	6,800.0	+145.5
Operating income (loss)	100.0	+350.2
Income (loss) from continuing operations, before income taxes and minority interest	0.0	+279.3
Net income (loss)	-50.0	+293.6

Note) Due to a change of U.S. GAAP, “Net income (loss)” includes noncontrolling interest (formerly minority interest) from FY 2009. However, in accordance with Tokyo Stock Exchange guidelines, noncontrolling interest has been deducted from “Net income (loss)” for the FY2009 forecast described above.

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