Presentations

• 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.

• 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.

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.