copy 2018 Toshiba Corporation 1

FY2017Third Quarter Consolidated Business Results

Representative Executive Officer andCorporate Executive Vice President

February 14 2018

Masayoshi Hirata

(First Nine Months Cumulative)

Forward-looking Statements

FY2017 Third Quarter Consolidated Business Results

This presentation contains forward-looking statements concerning future plans strategies and the performance of Toshiba Group

These forward-looking statements are not historical facts rather they are based on managementrsquos assumptions and beliefs in light of the economic financial and other data currently available

Since Toshiba Group promotes business in various market environments in many countries and regions its activities are subject to a number of risks and uncertainties that without limitation relate to economic conditions worldwide mega-competition in the electronics business customer demand foreign currency exchange rates tax rules regulations and other factors Toshiba therefore wishes to caution readers that actual results might differ materially from our expectations

Toshibarsquos fiscal year (FY) runs from April 1 to March 31 1H refers to the first six months (April-September)2H refers to the latter six months (October-March) 1Q refers to the first quarter (April-June) 2Q refers to the second quarter (July-September) 3Q refers to the third quarter (October-December) and 4Q refers to the fourth quarter (January-March)

All figures are consolidated totals for the first nine months of fiscal year 2017 unless otherwise stated

Results in segments have been reclassified to reflect the current organization unless otherwise stated

The Memory Business and Westinghouse Group are classified as a discontinued operations in accordance with Accounting Standards Codification (ASC) 205-20 ldquoPresentation of Financial Statements ndash Discontinued Operationsrdquo The results of these businesses have been excluded from net sales operating income (loss) and income (loss) from continuing operations before income taxes and noncontrolling interests Results for the past fiscal years have been revised to reflect this change unless otherwise stated

copy 2018 Toshiba Corporation 3copy 2018 Toshiba Corporation 3

1 Overall Business Results

Reclassification of Memory Business as Discontinued Operation and about Going Concern

The results for the Memory business are excluded from net sales operating income income before income taxes and noncontrolling interests profit after-tax is recorded as net income from discontinued operations

At this point the substantial doubts about the Companyrsquos ability to continue as a going concern has been sufficiently addressedAs of February 14 2018 the Company expects to resolve its financing and

negative shareholdersrsquo equity status as a result of the following three factors1 An increased certainty that the transaction for the sale of the Memory business

will be completed within a year2 A new share issue by third-party allotments of approx 6000 billion yen3 Closing of the sales of Westinghouse-related claims to third parties

In addition major group companies have acquired Special Construction Business License required under the construction contractors law of Japan

The sales of claims against Westinghouse Group was completed on January 22 2018 (EST) however it will be reflected in the going concern note for the third quarter business results The tax impact from the sales will be recorded in the fourth quarter business results

The global settlement with Western Digital of litigation and arbitration along with the progress of anti-trust law procedures in key jurisdictions has increased the certainty that the sale of the Memory business will be completed and the results of the Memory business have been classified as a discontinued operation for the third quarter of FY2017 in accordance with US generally accepted accounting principles

FY20171-3Q Consolidated Business Results Overall

161-3Q 171-3Q Difference

28354 28003 -351

761 496 -26527 18 -09

Non operating income (loss) -118 383 501

643 879 236

23 31 08

Tax expenses -476 -17 459

167 862 695

Net income (loss) from discontinuedoperation before noncontrollinginterests

-6446 -273 6173

Net income (loss) attributable tononcontrolling interests 954 -319 -1273

-5325 270 5595-188 10 198

-547 -4462 -3915

Net income (loss) from continuingoperation before noncontrollinginterests

Net sales

Operating income (loss)

Income (Loss) before income taxes andnoncontrolling interests

Net income (loss)

Free cash flows

yen606-yen12577 yen13183Earnings (Loss) per share attributableto shareholders of the Company

(Yen in billions except Earnings (Loss) per share)

2014年度実績(ver1)

Key Points of FY20171-3Q

Income (Loss)Income (Loss) before income taxes and noncontrolling interests was 879 billion yen including 496 billion yen operating income and nonoperating income of 383 billion yen mainly from 668 billion yen in profit from the Landis+Gyr IPO in the 2Q Net income from continuing operations was 862 billion yen as the total impact of tax from continuing operations was 17 billion yen after the reversal of a part of valuation allowance for deferred tax assets The Memory business achieved margin equivalent to an ROS of 37 Net income (loss) from discontinued operations was negative and stood at -273 billion yen due to the tax impact from the company split of the Memory business

Net SalesThe Company saw sales decrease by 12 as Energy Systems amp Solutions recorded lower sales due to the impact of the IPO and deconsolidation of Landis+Gyr Infrastructure System amp Solutions saw lower sales even though the Storage amp Electronic Devices recorded higher sales The total impact of yen depreciation was +570 billion yen(excl Memory business)

IPO Initial Public Offering

Cash FlowsCash flows from operating activities were -3837 billion yen mainly due to payment of WEC parent company guarantees of 4368 billion yen and deterioration in working capital due to deterioration in the financial base and financial credibility Cash flows from investing activities recorded -625 billion yen while investment of Memory but there were sales of Landis+Gyr shares Free cash flows recorded -4462 billion yen

173E 1712E Difference

-5529 -39 5490

Shareholders equity ratio -130 -01 129

-2757 2209 4966

6829 4840 -1989

Net debt-to-equity ratio - - -

yen112 yen113 yen1Exchange rate (US$) as of theend date of the term

Equity attributable toshareholders of the Company

Net interest-bearing debt

Net assets

Financial StructureShareholderrsquos equity was -39 billion yen an improvement of 5490 billion yen against March end 2017 It was led by a share issue by third-party allotments that raised approximately 6000 billion yen increase in net income (loss) attributable to the Company and a reduction of -495 billion yen (direct impact on equity) due to the execution of a put option for WEC shares by Kazatomprom Net assets including noncontrolling interests were 2209 billion yen

(Yen in billions)

The amount is only the impact of directly in equity Besides this -152 billion yen is recorded as income (loss) from discontinued operations

2014年度実績(ver1)

1-3QPretax income

from discontinued operations3157

1-3QTax amount

in total3430Tax amount

975

As the Memory has been reclassified as a discontinued operation the tax impact calculation changed and the full amount of tax expense has been recorded as a non-qualified split in 3Q 2017

Tax amount from Company

Split of the Memory

business as a Non-qualified

Split2455

1-3QNet income (loss) from

discontinued operation-273

Reflects tax benefit due to reverse the valuation allowance etc

Tax Impact from Company Split of the Memory Business as a Non-qualified Split

(Yen in billions)

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

FY20161-3QOperating

income (loss) before

reclassification+1812

Before its reclassification of discontinued operations higher sales prices volumes and cost reductions in the Memory realized a significant increase

Shrinking unprofitable business units etc

Impact of discontinued

operation-3123

Impact from discontinued

operation(reimbursement)

+1051

(Yen in billions)

FY20161-3Q

after reclassification

761

Impact of sales prices +996

NAND cost reductions by

migrationconfiguration difference+1182

Yendepreciation

+320

Fixed costs-276

Emergency measures

(bonus reductions

etc)-415

FY20171-3QOperating

income (loss)before

reclassification3619

FY20171-3QOperating

income (loss) after

reclassification496

Operating Income (Loss) YoY Analysis

YoY = year-on-year comparison

Non-operating Income (Loss) and Expenses

(Yen in billions)FY2016

1-3QFY2017

1-3QDifference Main items in FY2017 3Q

Net financial income (loss) -71 -158 -87 -

Foreign exchange income (loss) -18 -15 03 -Income (Loss) on sales ordisposal of fixed assets 156 147 -09 -Income (Loss) on sales ofsecurities 40 692 652 -

Settlement costs of lawsuits -196 -73 123 -

Others -29 -210 -181 -

Total -118 383 501

Improvement mainly due to profit from the sale of Landis+Gyr

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

Cash flows from operating activitiesCash flows from investing activitiesFree cash flows

Cash FlowsCash flows from operating activities were negative due to

payment of WEC parent company guaranteesCash flows from operating activities excluding the impact of payment for WEC parent company guarantees531

Cash flows from investing activities excluding revenue from sales of major securities-1784

Cash flows from investing activities excluding the sale of the Home Appliances business-1055

Cash flows from investing activities excluding the impact from Landis+Gyrrsquos IPO-2122

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Utilized part of the capital raised by share issuefor early payment of parent company guarantees

Cash and cash equivalents

Accounts receivable

InventoriesGoodwill

deferred tax assets etc

Property plant and equipment

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

Liabilities of discontinued operations

Notes and accounts payable trade

Accrued pension and severance costs

Other liabilitiesAssets of discontinued operations

Interest-bearing debt

(Yen in billions)

44906

2 Business Results by Segment

This page is intentionally left blank

161-3Q 171-3Q Differece （growth rate）

Net sales 6600 6115 -485 (-7)Operating income (loss) -24 -121 -97ROS -04 -20 -16Net sales 8385 8306 -79 (-1)Operating income (loss) 215 113 -102ROS 26 14 -12Net sales 3718 3793 75 (+2)Operating income (loss) 111 188 77ROS 30 49 19Net sales 6304 6610 306 (+5)Operating income (loss) 493 489 -04ROS 78 74 -04Net sales 1625 1769 144 (+9)Operating income (loss) 44 -26 -70ROS 27 -15 -42Net sales 3931 3794 -137 (-3)Operating income (loss) -91 -186 -95Net sales -2209 -2384 -175Operating income (loss) 13 39 26

Net sales 28354 28003 -351 (-1)Operating income (loss) 761 496 -265ROS 27 18 -09

TotalAfter reclassification

Energy Systems ampSolutions

InfrastructureSystems ampSolutions

Retail amp PrintingSolutions

Storage ampElectronic DevicesSolutions

Industrial ICTSolutions

Others

Eliminations

(Yen in billions)

After reclassification of the Memory business as a discontinued operationBy Segment

FY2017 Third Quarter Consolidated Business Results 14

Sheet1

161-3Q 171-3Q Difference （growth rate）

Net sales 6600 6115 -485 (-7)Operating income (loss) -24 -121 -97ROS -04 -20 -16Net sales 8385 8306 -79 (-1)Operating income (loss) 215 113 -102ROS 26 14 -12Net sales 3718 3793 75 (+2)Operating income (loss) 111 188 77ROS 30 49 19Net sales 12423 14895 2472 (+20)Operating income (loss) 1546 3680 2134ROS 124 247 123Net sales 1625 1769 144 (+9)Operating income (loss) 44 -26 -70ROS 27 -15 -42Net sales 3931 3794 -137 (-3)Operating income (loss) -91 -186 -95Net sales -2468 -2849 -381Operating income (loss) 11 -29 -40

Net sales 34214 35823 1609 (+5)Operating income (loss) 1812 3619 1807ROS 53 101 48

TotalBefore reclassification

Others

Eliminations

(Yen in billions)

Before reclassification of the Memorybusiness as a discontinued operation

The Memory business has been reclassified as a discontinued operationThis breakdown of segment sales and income is for reference only and shows the figures prior to the reclassification

By Segment

15

Sheet1

1-3QFY2017

1-3QDifference (growth rate)

Net sales 6600 6115 -485 (-7)

Operating income (loss) -24 -121 -97

ROS -04 -20 -16

-4878Net sales 992 917 -75 (-8)Operating income (loss) -48 -89 -41ROS -48 -97 -49Net sales 2418 2637 219 (+9)Operating income (loss) 46 -03 -49ROS 19 -01 -20Net sales 2061 2073 12 (+1)Operating income (loss) -05 12 17ROS -02 06 08Net sales 1294 658 -636Operating income (loss) 65 34 -31Net sales -165 -170 -05Operating income (loss) -82 -75 07

FY2017 results are for the period upto the IPO

Landis+Gyr

OthersIncludes eliminations within thesegment and RampD cost for hydrgenrelated business

Lower income and lower sales in ashrinking domestic market and fromprofit decrease in some projects

Higher sales on progress in projectsusing the percentage of completionmethod mainly plant projects in JapanLower income due to provision foradditional costs for construction projects

Higher sales and income fromprojects using the percentage ofcompletion in the domestic TampDmarket

FCF by segment

Nuclear PowerSystems

Thermal amp HydroPower Systems

Transmission ampDistributionSystems

Exchange rate impact +171

Exchange rate impact -01Emergency measures -67

Energy Systems amp Solutions Results Breakdown

FCF (free cash flows) by segment is an index for in-house management only and treatment of effects of exchange rate changes etc is different from free cash flows in the Consolidated Statements of Cash Flows

Sheet1

00

10000

20000

201612E 201712E

[-4]

Power Generation and Transmission amp Distribution Systems(excluding Solar Photovoltaic Systems and Landis+Gyr)

Figures for Westinghouse Group have been excluded

(Yen in billions)[ ]=year-on-year comparison

bull Nuclear Power Systems received orders related to plant restarts the backlog increased slightly

bull Thermal amp Hydro Power Systemsrsquo backlog decreased despite orders for major thermal plant projects received overseas but the sales for construction increased

bull Transmission amp Distribution Systems orders outside Japan is delayed than expected and the backlog decreased slightly

Energy Systems amp Solutions Order Backlog

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

Operating income (loss) 215 113 -102

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

Operating income (loss) 18 -09 -27

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

Operating income (loss) -03 10 13

ROS -01 04 05

Lower sales due to lower ordersLower operating income alsoreflected a scaling back ofemergency measures

Higher sales on higher order inindustrial components Operatingincome improved

FCF by segment

PublicInfrastructure

Building andFacilities

IndustrialSystems

Exchange rate impact plusmn00Emergency measures -130

Infrastructure Systems amp Solutions Results Breakdown

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

Operating income (loss) 1546 3680 2134

ROS 124 247 123

1593Storage Memories Net sales 6351 8756 2405 (+38)

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

Devices amp Others Net sales 2614 2768 154 (+6)

ROS 96 90 -06

Stable prices supported by strongdemand for smart phones andSSD Both net sales and operatingincome were higher than for thesame period last year

Higher sales supported by growthin enterprise market Howeverlower overall sales and loweroperating income as shrinkg in thePC market

Higher income on higher sales inDiscretes supported by positiveperformance in industrial marketOverall sales and income was flatas System LSI income declined

FCF by segment

Storage amp ElectronicDevices Solutions

Exchange rate impact +313Emergency measures -97

Storage amp Electronic Devices Solutions Results Breakdown(Before Reclassification of the Memory business)

Sheet1

Compared to FY20172Q Continued to see improved operating incomeby maintaining a positive performance in Memories

355 241

1043

31

542

1315

-149

763

1322

-1247

924

FY2015 FY2016 FY20171Q 2Q 4Q3Q 1Q 2Q 4Q3Q 1Q 2Q 4Q3Q

FY2015 figures are for the Semiconductor amp Storage Products Company the previous organization and were calculated before the change to segment-based calculation of operating income (loss)

(Yen in billions)

Storage amp Electronic Devices Solutions Quarterly Trend in Operating Income (Loss) ndash Before Reclassification

Structural reform costs -462Asset write-downs -488Revaluation of inventories -280

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Difference (growth rate)

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

Exchange rate impact +08Emergency measures - 09

Exchange rate impact plusmn00

Retail amp Printing SolutionsIndustrial ICT Solutions

FCF (free cash flows) by segment is an index for in-house management only and treatment of effects of exchange rate changes etc are different from free cash flows in the Consolidated Statements of Cash Flows

Both the Retail and Printing businesses maintained stable performances Sales increased due to exchange rate impact Significantly increased income in the Retail and Printing businesses

Higher sales due to good performances in systems business for government and IoTAI business Lower income from impacts from some of domestic information system projects and the cost of structural reform of the unified communications systems business and scaling back of emergency measures

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

Visual Products Net sales 463 365 -98 (-21)

Operating income (loss) -89 -64 25

ROS -192 -175 17

Lower sales due to complete withdrawalfrom overseas B2C business and sluggishsales domestic B2C and in B2B markets inEurope and North America In addition tolower sales increases in component costssuch as SSD resulted in deterioratedoperating incomeLower sales due to scaling back of domesticB2C business Operating income was betterthan the same period last year whenprovision was made for the cost of qualityissue

Sheet1

3 FY2017 Forecast

Overall

Previous Forecast(Nov 9)

Before Memoryreclassification

FY17 Forecast(Feb 14)

Before Memoryreclassificaion

difference

After Memoryreclassification

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

Previous forecast(Nov9)

2018 3Eforecast

difference

-7500 4600 12100

Shareholders equity ratio -192 112 304-5300 6900 122009400 6000 -3400

yen110 yen110 yen0

Net sales

Exchange rate (US$) of the end date ofthe term

Net income (loss)Free cash flows

Net assets

Operating income (loss)Income (loss) before income taxes andnoncontrolling interests

(Yen in billions)

Operating Income (loss) Memory is expected to increase and Nuclear Thermal and Hydro are expected to decline but the overall forecast is an increase against the previous forecastNon Operating Income (loss) An improvement of 500 billion yen against the previous forecast due to recording profit from the sale of the Visual Products and hedging currency risk by early payment of parent company guarantees Net Income A 6300 billion yen improvement against previous forecast due to the sale of claims against WEC (sales profit recorded under net income (loss) from discontinued operations) related tax reduction As shareholderrsquos equity was enhanced by a new share issue the shareholderrsquos equity is expected to be positive at March 31 2018

Before reclassification of the Memory business

Impact from reclassification of

the Memory business

Sheet1

Equity attributable shareholders of the Company - against previous forecast

-10000

-5000

00

5000

10000

15000

20000

Previous forecast(Nov 9)-7500

This forecast(Feb 14)4600

Profit from sales of

WEC claims+1800

Tax reduction related to

sales of WECclaims+2400

Others+150 After the

sales of the Memory

business

New share issue throughthird-partyallotment+6000

Reversal of valuation

allowance for deferred tax

assets+1100

Sales of Visual Products business+650

Includes tax reduction+400

[ref] After the sales of the Memory business

(Yen in billions)

The sales of the Memory

business

Net interest-bearing debt- against previous forecast

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

12000Payment of WEC parent

company guarantees

+5300

Others-200

Sales revenue of WEC claims-2500

Sales revenue 20000plusmnAdjustment in working

capitalMain deductionre-investment 3505Cash of Memory TBD

New share issue

throughthird-partyallotment

-6000

(Yen in billions)

This forecast(Feb14)6000

Previous forecast(Nov 9)9400

After the sales of

the Memorybusiness

business

Adjustment in net debt working capital and cumulative capex

26

(Yen in billions)FY2016Actual

FY2017Forecast

on Feb14Difference (growth rate)

Net sales 9749 8400 -1349 (-14)Operating income (loss) -417 -50 367ROS -43 -06 37Net sales 12624 12600 -24 (-0)Operating income (loss) 584 420 -164ROS 46 33 -13Net sales 5077 5100 23 (+0)Operating income (loss) 163 220 57ROS 32 43 11Net sales 8371 8500 129 (+2)Operating income (loss) 576 450 -126ROS 69 53 -16Net sales 2396 2500 104 (+4)Operating income (loss) 71 30 -41ROS 29 12 -17Net sales 5356 5100 -256 (-5)Operating income (loss) -171 -400 -229Net sales -3136 -3200 -64Operating income (loss) 14 -670 -684

Infrastructure Systemsamp Solutions

Industrial ICT Solutions

Others

Eliminations

Including restructuring costs of 600 billion yen

The FY16 actual figure for discontinued operations is before auditing and may be subject to change The Company will report the confirmed figure

After reclassification of the Memorybusiness as a discontinued operation By Segment

27

Sheet1

FY2017Forecast

vs previousforecast onNov9 base

Net sales 9749 8400 -1349 (-14) 00Operating income (loss) -417 -50 367 -100ROS -43 -06 37 -12Net sales 12624 12600 -24 (-0) 00Operating income (loss) 584 420 -164 00ROS 46 33 -13 00Net sales 5077 5100 23 (+0) 00Operating income (loss) 163 220 57 00ROS 32 43 11 00Net sales 17002 20100 3098 (+18) 300Operating income (loss) 2470 4900 2430 300ROS 145 244 99 12Net sales 2396 2500 104 (+4) 00Operating income (loss) 71 30 -41 00ROS 29 12 -17 00Net sales 5356 5100 -256 (-5) -100Operating income (loss) -171 -400 -229 -100Net sales -3496 -3900 -404 00Operating income (loss) 08 -720 -728 00

Net sales 48708 49900 1192 (+2) 200Operating income (loss) 2708 4400 1692 100ROS 56 88 32 01

Others

Eliminations

2 Including restructuringcosts of 600billion yen

2

1The Memory business has been reclassified as a discontinued operationThis breakdown of segment sales and income is for reference only and shows the figures prior to the reclassification

Before reclassification of the Memorybusiness as a discontinued operation By Segment

1

28

Sheet1

Appendix

Capital Expenditure (Commitment Basis)(Yen in billions)

FY2016Actual

FY2017Forecast

vs previousForecaston Nov9

FY20171-3Q

Actual

FY20173Q

Actual

Major Itemsin FY20173Q

56 1000 00

－

Total

Infrastructure Systemsamp SolutionsRetail amp PrintingSolutionsStorage amp ElectronicsDevices Solutions

Others

92

22

111

144

266

70

Investments and Loans

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

Capital Expenditure(Commitment Basis)

150

1000

00

-5800

00

-5800

130

400

100

200

20

The previous forecast announced on Nov 9 was issued prior to the reclassification of the Memory business and included capital investments by Toshiba in affiliated companies accounted for by the equity-method such as Flash Forward Ltd

30

Sheet1

Timeline of Westinghousersquos Chapter 11 Filing

Note on Chapter 11 processbull The plan of reorganization states how Westinghouse will make payment to its creditors using

capital or rights (payment resources) acquired in the reorganization process bull After the voting confirms the plan of reorganization the court will confirm it and payment to

creditors will start However there are various conditions for the start of payment egregulatory approvals of WEC acquisition by Brookfield Group

Optimized allocation of management resource by reaching an early settlement of Westinghouse-related obligations Contract for sale of Westinghouse claims signed and the transaction completed with

full payment on Jan 22 Aim to further eliminate uncertainty by early closing of Westinghouse related equity

transfer

Now

Payment based on the reorganization

plan starts

Sep 2018(estimate)

March 27(plan)

March 15(plan)January 29September 1 2018

March 292017

The Claims exclude general commercial claim

31

LNG Business (Freeport)

Customers

LNG

Toshiba

Continuing sales activities and measures to establish a structure to sell and supply LNG

LNGPower Generation Equipment

Liquefaction Tolling AgreementConcluded in 201322 million ton x 20 years (from 2019)

Feed Gas(to be

procured from

market) Payment of liquefaction tolling fee

Provide liquefaction

tolling service

FLNG Liquefaction 3 LLC(Owns and operates

Freeport Liquefaction Terminal Train 3)

Treatment in Accounting bull In 20173Q no special accounting treatment was applied to LNG

based on the status of current progress on basic agreements and negotiations with customers

bull Toshiba continues to evaluate an appropriate method on making provision for a loss from the point one year prior to starting operation and for each subsequent delivery year on the premise that given the time necessary for arranging vessels and determining destinations the uncommitted sales quantity of LNG in any given year is sold in the spot market at a price lower than the cost of production

bull Toshibarsquos liquefaction tolling service is not subject to impairment as it is not an investment in resource interests

bull Toshiba intends to enter into long-term contracts in the main for all the LNG for which it has contracted However it is possible that losses will be incurred if sales prices fall below the purchase cost or if expected conditions change

Status of Orders Receivedbull Basic agreements for a part of the Toshibas liquefaction service

(total of 22 million tons per year) have already been concluded (volume price and contract terms) with multiple customers though certain conditions must be met before they become effective

bull Currently in negotiations with multiple customers (total over 22 million tons including the capacity of the above basic agreements)

Concrete Progress of Activitiesbull In preparation for starting to supply customers with LNG from

September 2019 Toshiba registered a US subsidiary Toshiba America LNG Inc which will procure gas and supply LNG (February 2017) The company started operation in July 2017

Total cost LNG pricesFeed gas

Income or loss at Toshiba

LossProfit

LiquefactioncostTransportationcosts etc

LNG prices fluctuate depending on market demand

Balance Sheet - Memory business

Assets 20173E 201712ECash and cash equivalents 1866 194Notes and accounts recievable trade 1504 2266Inventories 1243 1463Short-term loans receivable 17 3731Property plant and equipment 2548 3124Equity method investments in affiliates 1494 2270Other assets 866 1853Total assets 9538 14901

Liabilities 20173E 201712EShort-term borrowings 12 76Notes and accounts payable trade 730 869Accounts payable other and accruredexpenses 1604 2646

Accrued income and other taxes payables 496 4304Accrued pension and severance costs 493 495Other liabilities 325 248Total liabilities 3660 8638

The following details the balance of assets and liabilities held by the Memory business in respect of consolidated group companies including Toshiba Corporation and Toshiba Memory Corporation This does not match assets and liabilities of discontinued operations of consolidated balance sheet as some of these numbers are eliminated through consolidation

(Yen in billions)

Includes tax impact of a Non-qualified Split

Includes Group deposits

33

Sheet1

FY2017Forecast

Net sales 9749 8400 -1349 (-14)Operating income (loss) -417 -50 367ROS -43 -06 37Net sales 1821 1618 -203 (-11)

Operating income (loss) -451 -20 431ROS -248 -12 236Net sales 3391 3476 85 (+3)Operating income (loss) 39 07 -32ROS 12 02 -10Net sales 2977 2838 -139 (-5)Operating income (loss) 27 11 -16ROS 09 04 -05Net sales 1812 658 -1154Operating income (loss) 74 34 -40Net sales -252 -190 62Operating income (loss) -106 -82 24

Landis+Gyr

Others

FY2017 figures for Landis+Gyr are for the period up to the July 25 IPO

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

InfrastructureSystems amp Solutions

Industrial Systems

Sheet1

(Yen in billions)

Storage amp Electronic Devices Solutions Results Breakdown(Before reclassification of the Memory business)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

Storage Memories Net sales 8972 12258 3286 (+37)

Operating income (loss) 1866 4497 2631ROS 208 367 159

HDDs Net sales 4613 4386 -227 (-5)

Operating income (loss) 360 230 -130ROS 78 52 -26Net sales 3417 3456 39 (+1)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

スライド番号 3
Cash Flows
Balance Sheets
After reclassification of the Memory business as a discontinued operation
Before reclassification of the Memory business as a discontinued operation
Energy Systems amp Solutions　Results Breakdown
Energy Systems amp Solutions　Order Backlog
Others
Overall
Capital Expenditure (Commitment Basis)
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

		161-3Q		171-3Q		差サ			1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

売上高ウリアゲダカ			28354		28005		349			23800		4205

営業損益エイギョウソンエキ			761		502		259			2100		1598

			27		18		09			88		70

税引前損益ゼイビキマエソンエキ			643		885		242			2300		1415

			23		32		09			97		65

非支配持分控除前継続事業当期純損益			167		866		699

非支配持分控除前非継続事業当期純損益			6446		273		6173

当期純損益トウキジュンソンエキ			5325		272		5597			600		872

			188		10		198			25		35

1株当たりカブア					yen000			yen1417		yen1417

当期純損益トウキジュンソンエキ

フリーキャッシュフロー					0			300


		173E		1712E		Difference			1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130			42000

Equity attributable to shareholders of the Company			-5529		-39		5490			6600		6596

	Shareholders equity ratio		-130		-01		129			169		168

Net assets			-2757		2209		4966			4600		4821

Net interest-bearing debt			6829		4840		-1989			5900

	Net debt-to-equity ratio		-		-		-			-


Exchange rate (US$) as of the end date of the term			yen112		yen113		yen1			yen112

		161-3Q		171-3Q		Difference		1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

Net sales			28354		28003		-351		23800		21000

Operating income (loss)			761		496		-265		2100		2050

			27		18		-09		88		70

	Non operating income (loss)		-118		383		501

Income (Loss) before income taxes and noncontrolling interests			643		879		236		2300		2212

			23		31		08		97		66

	Tax expenses		-476		-17		459

Net income (loss) from continuing operation before noncontrolling interests			167		862		695

	Net income (loss) from discontinued operation before noncontrolling interests		-6446		-273		6173

	Net income (loss) attributable to noncontrolling interests		954		-319		-1273

Net income (loss)			-5325		270		5595		600		627

			-188		10		198		25		35

Earnings (Loss) per share attributable to shareholders of the Company			-yen12577		yen606		yen13183		yen1417		yen2023


Free cash flows			-547		-4462		-3915		300


		173末マツ		1712末マツ		差サ		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130		42000

株主資本カブヌシシホン			5529		38		5491		6600		6562

	株主資本比率カブヌシシホンヒリツ		130		01		129		169		168

純資産ジュンシサン			2757		2213		4970		4600		6813

Net有利子負債ユウリシフサイ			4961		4587		374		5900

	Net DEレシオ		-		-		-		-


期末日為替レート(米ドル）キマツビカワセベイ			yen112			yen112		yen112

Page 2: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

This presentation contains forward-looking statements concerning future plans strategies and the performance of Toshiba Group

These forward-looking statements are not historical facts rather they are based on managementrsquos assumptions and beliefs in light of the economic financial and other data currently available

Since Toshiba Group promotes business in various market environments in many countries and regions its activities are subject to a number of risks and uncertainties that without limitation relate to economic conditions worldwide mega-competition in the electronics business customer demand foreign currency exchange rates tax rules regulations and other factors Toshiba therefore wishes to caution readers that actual results might differ materially from our expectations

Toshibarsquos fiscal year (FY) runs from April 1 to March 31 1H refers to the first six months (April-September)2H refers to the latter six months (October-March) 1Q refers to the first quarter (April-June) 2Q refers to the second quarter (July-September) 3Q refers to the third quarter (October-December) and 4Q refers to the fourth quarter (January-March)

All figures are consolidated totals for the first nine months of fiscal year 2017 unless otherwise stated

Results in segments have been reclassified to reflect the current organization unless otherwise stated

The Memory Business and Westinghouse Group are classified as a discontinued operations in accordance with Accounting Standards Codification (ASC) 205-20 ldquoPresentation of Financial Statements ndash Discontinued Operationsrdquo The results of these businesses have been excluded from net sales operating income (loss) and income (loss) from continuing operations before income taxes and noncontrolling interests Results for the past fiscal years have been revised to reflect this change unless otherwise stated

28354 28003 -351

761 496 -26527 18 -09

643 879 236

23 31 08

167 862 695

-6446 -273 6173

-5325 270 5595-188 10 198

-547 -4462 -3915

Net sales

Net income (loss)

Free cash flows

2014年度実績(ver1)

-5529 -39 5490

-2757 2209 4966

6829 4840 -1989

Net assets

(Yen in billions)

2014年度実績(ver1)

1-3QPretax income

1-3QTax amount

975

Split of the Memory

Split2455

(Yen in billions)

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

FY20161-3QOperating

operation-3123

+1051

(Yen in billions)

FY20161-3Q

761

Yendepreciation

+320

Fixed costs-276

Emergency measures

(bonus reductions

etc)-415

FY20171-3QOperating

income (loss)before

FY20171-3QOperating

income (loss) after

reclassification496

1-3QFY2017

Others -29 -210 -181 -

Total -118 383 501

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

		161-3Q		171-3Q		差サ			1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

売上高ウリアゲダカ			28354		28005		349			23800		4205

営業損益エイギョウソンエキ			761		502		259			2100		1598

			27		18		09			88		70

税引前損益ゼイビキマエソンエキ			643		885		242			2300		1415

			23		32		09			97		65

非支配持分控除前継続事業当期純損益			167		866		699

非支配持分控除前非継続事業当期純損益			6446		273		6173

当期純損益トウキジュンソンエキ			5325		272		5597			600		872

			188		10		198			25		35

1株当たりカブア					yen000			yen1417		yen1417

当期純損益トウキジュンソンエキ

フリーキャッシュフロー					0			300


		173E		1712E		Difference			1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130			42000

Equity attributable to shareholders of the Company			-5529		-39		5490			6600		6596

	Shareholders equity ratio		-130		-01		129			169		168

Net assets			-2757		2209		4966			4600		4821

Net interest-bearing debt			6829		4840		-1989			5900

	Net debt-to-equity ratio		-		-		-			-


Exchange rate (US$) as of the end date of the term			yen112		yen113		yen1			yen112

		161-3Q		171-3Q		Difference		1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

Net sales			28354		28003		-351		23800		21000

Operating income (loss)			761		496		-265		2100		2050

			27		18		-09		88		70

	Non operating income (loss)		-118		383		501

Income (Loss) before income taxes and noncontrolling interests			643		879		236		2300		2212

			23		31		08		97		66

	Tax expenses		-476		-17		459

Net income (loss) from continuing operation before noncontrolling interests			167		862		695

	Net income (loss) from discontinued operation before noncontrolling interests		-6446		-273		6173

	Net income (loss) attributable to noncontrolling interests		954		-319		-1273

Net income (loss)			-5325		270		5595		600		627

			-188		10		198		25		35

Earnings (Loss) per share attributable to shareholders of the Company			-yen12577		yen606		yen13183		yen1417		yen2023


Free cash flows			-547		-4462		-3915		300


		173末マツ		1712末マツ		差サ		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130		42000

株主資本カブヌシシホン			5529		38		5491		6600		6562

	株主資本比率カブヌシシホンヒリツ		130		01		129		169		168

純資産ジュンシサン			2757		2213		4970		4600		6813

Net有利子負債ユウリシフサイ			4961		4587		374		5900

	Net DEレシオ		-		-		-		-


期末日為替レート(米ドル）キマツビカワセベイ			yen112			yen112		yen112

Page 3: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

28354 28003 -351

761 496 -26527 18 -09

643 879 236

23 31 08

167 862 695

-6446 -273 6173

-5325 270 5595-188 10 198

-547 -4462 -3915

Net sales

Net income (loss)

Free cash flows

2014年度実績(ver1)

-5529 -39 5490

-2757 2209 4966

6829 4840 -1989

Net assets

(Yen in billions)

2014年度実績(ver1)

1-3QPretax income

1-3QTax amount

975

Split of the Memory

Split2455

(Yen in billions)

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

FY20161-3QOperating

operation-3123

+1051

(Yen in billions)

FY20161-3Q

761

Yendepreciation

+320

Fixed costs-276

Emergency measures

(bonus reductions

etc)-415

FY20171-3QOperating

income (loss)before

FY20171-3QOperating

income (loss) after

reclassification496

1-3QFY2017

Others -29 -210 -181 -

Total -118 383 501

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

		161-3Q		171-3Q		差サ			1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

売上高ウリアゲダカ			28354		28005		349			23800		4205

営業損益エイギョウソンエキ			761		502		259			2100		1598

			27		18		09			88		70

税引前損益ゼイビキマエソンエキ			643		885		242			2300		1415

			23		32		09			97		65

非支配持分控除前継続事業当期純損益			167		866		699

非支配持分控除前非継続事業当期純損益			6446		273		6173

当期純損益トウキジュンソンエキ			5325		272		5597			600		872

			188		10		198			25		35

1株当たりカブア					yen000			yen1417		yen1417

当期純損益トウキジュンソンエキ

フリーキャッシュフロー					0			300


		173E		1712E		Difference			1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130			42000

Equity attributable to shareholders of the Company			-5529		-39		5490			6600		6596

	Shareholders equity ratio		-130		-01		129			169		168

Net assets			-2757		2209		4966			4600		4821

Net interest-bearing debt			6829		4840		-1989			5900

	Net debt-to-equity ratio		-		-		-			-


Exchange rate (US$) as of the end date of the term			yen112		yen113		yen1			yen112

		161-3Q		171-3Q		Difference		1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

Net sales			28354		28003		-351		23800		21000

Operating income (loss)			761		496		-265		2100		2050

			27		18		-09		88		70

	Non operating income (loss)		-118		383		501

Income (Loss) before income taxes and noncontrolling interests			643		879		236		2300		2212

			23		31		08		97		66

	Tax expenses		-476		-17		459

Net income (loss) from continuing operation before noncontrolling interests			167		862		695

	Net income (loss) from discontinued operation before noncontrolling interests		-6446		-273		6173

	Net income (loss) attributable to noncontrolling interests		954		-319		-1273

Net income (loss)			-5325		270		5595		600		627

			-188		10		198		25		35

Earnings (Loss) per share attributable to shareholders of the Company			-yen12577		yen606		yen13183		yen1417		yen2023


Free cash flows			-547		-4462		-3915		300


		173末マツ		1712末マツ		差サ		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130		42000

株主資本カブヌシシホン			5529		38		5491		6600		6562

	株主資本比率カブヌシシホンヒリツ		130		01		129		169		168

純資産ジュンシサン			2757		2213		4970		4600		6813

Net有利子負債ユウリシフサイ			4961		4587		374		5900

	Net DEレシオ		-		-		-		-


期末日為替レート(米ドル）キマツビカワセベイ			yen112			yen112		yen112

Page 4: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

28354 28003 -351

761 496 -26527 18 -09

643 879 236

23 31 08

167 862 695

-6446 -273 6173

-5325 270 5595-188 10 198

-547 -4462 -3915

Net sales

Net income (loss)

Free cash flows

2014年度実績(ver1)

-5529 -39 5490

-2757 2209 4966

6829 4840 -1989

Net assets

(Yen in billions)

2014年度実績(ver1)

1-3QPretax income

1-3QTax amount

975

Split of the Memory

Split2455

(Yen in billions)

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

FY20161-3QOperating

operation-3123

+1051

(Yen in billions)

FY20161-3Q

761

Yendepreciation

+320

Fixed costs-276

Emergency measures

(bonus reductions

etc)-415

FY20171-3QOperating

income (loss)before

FY20171-3QOperating

income (loss) after

reclassification496

1-3QFY2017

Others -29 -210 -181 -

Total -118 383 501

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

		161-3Q		171-3Q		差サ			1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

売上高ウリアゲダカ			28354		28005		349			23800		4205

営業損益エイギョウソンエキ			761		502		259			2100		1598

			27		18		09			88		70

税引前損益ゼイビキマエソンエキ			643		885		242			2300		1415

			23		32		09			97		65

非支配持分控除前継続事業当期純損益			167		866		699

非支配持分控除前非継続事業当期純損益			6446		273		6173

当期純損益トウキジュンソンエキ			5325		272		5597			600		872

			188		10		198			25		35

1株当たりカブア					yen000			yen1417		yen1417

当期純損益トウキジュンソンエキ

フリーキャッシュフロー					0			300


		173E		1712E		Difference			1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130			42000

Equity attributable to shareholders of the Company			-5529		-39		5490			6600		6596

	Shareholders equity ratio		-130		-01		129			169		168

Net assets			-2757		2209		4966			4600		4821

Net interest-bearing debt			6829		4840		-1989			5900

	Net debt-to-equity ratio		-		-		-			-


Exchange rate (US$) as of the end date of the term			yen112		yen113		yen1			yen112

		161-3Q		171-3Q		Difference		1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

Net sales			28354		28003		-351		23800		21000

Operating income (loss)			761		496		-265		2100		2050

			27		18		-09		88		70

	Non operating income (loss)		-118		383		501

Income (Loss) before income taxes and noncontrolling interests			643		879		236		2300		2212

			23		31		08		97		66

	Tax expenses		-476		-17		459

Net income (loss) from continuing operation before noncontrolling interests			167		862		695

	Net income (loss) from discontinued operation before noncontrolling interests		-6446		-273		6173

	Net income (loss) attributable to noncontrolling interests		954		-319		-1273

Net income (loss)			-5325		270		5595		600		627

			-188		10		198		25		35

Earnings (Loss) per share attributable to shareholders of the Company			-yen12577		yen606		yen13183		yen1417		yen2023


Free cash flows			-547		-4462		-3915		300


		173末マツ		1712末マツ		差サ		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130		42000

株主資本カブヌシシホン			5529		38		5491		6600		6562

	株主資本比率カブヌシシホンヒリツ		130		01		129		169		168

純資産ジュンシサン			2757		2213		4970		4600		6813

Net有利子負債ユウリシフサイ			4961		4587		374		5900

	Net DEレシオ		-		-		-		-


期末日為替レート(米ドル）キマツビカワセベイ			yen112			yen112		yen112

Page 5: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

28354 28003 -351

761 496 -26527 18 -09

643 879 236

23 31 08

167 862 695

-6446 -273 6173

-5325 270 5595-188 10 198

-547 -4462 -3915

Net sales

Net income (loss)

Free cash flows

2014年度実績(ver1)

-5529 -39 5490

-2757 2209 4966

6829 4840 -1989

Net assets

(Yen in billions)

2014年度実績(ver1)

1-3QPretax income

1-3QTax amount

975

Split of the Memory

Split2455

(Yen in billions)

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

FY20161-3QOperating

operation-3123

+1051

(Yen in billions)

FY20161-3Q

761

Yendepreciation

+320

Fixed costs-276

Emergency measures

(bonus reductions

etc)-415

FY20171-3QOperating

income (loss)before

FY20171-3QOperating

income (loss) after

reclassification496

1-3QFY2017

Others -29 -210 -181 -

Total -118 383 501

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

		161-3Q		171-3Q		差サ			1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

売上高ウリアゲダカ			28354		28005		349			23800		4205

営業損益エイギョウソンエキ			761		502		259			2100		1598

			27		18		09			88		70

税引前損益ゼイビキマエソンエキ			643		885		242			2300		1415

			23		32		09			97		65

非支配持分控除前継続事業当期純損益			167		866		699

非支配持分控除前非継続事業当期純損益			6446		273		6173

当期純損益トウキジュンソンエキ			5325		272		5597			600		872

			188		10		198			25		35

1株当たりカブア					yen000			yen1417		yen1417

当期純損益トウキジュンソンエキ

フリーキャッシュフロー					0			300


		173E		1712E		Difference			1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130			42000

Equity attributable to shareholders of the Company			-5529		-39		5490			6600		6596

	Shareholders equity ratio		-130		-01		129			169		168

Net assets			-2757		2209		4966			4600		4821

Net interest-bearing debt			6829		4840		-1989			5900

	Net debt-to-equity ratio		-		-		-			-


Exchange rate (US$) as of the end date of the term			yen112		yen113		yen1			yen112

		161-3Q		171-3Q		Difference		1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

Net sales			28354		28003		-351		23800		21000

Operating income (loss)			761		496		-265		2100		2050

			27		18		-09		88		70

	Non operating income (loss)		-118		383		501

Income (Loss) before income taxes and noncontrolling interests			643		879		236		2300		2212

			23		31		08		97		66

	Tax expenses		-476		-17		459

Net income (loss) from continuing operation before noncontrolling interests			167		862		695

	Net income (loss) from discontinued operation before noncontrolling interests		-6446		-273		6173

	Net income (loss) attributable to noncontrolling interests		954		-319		-1273

Net income (loss)			-5325		270		5595		600		627

			-188		10		198		25		35

Earnings (Loss) per share attributable to shareholders of the Company			-yen12577		yen606		yen13183		yen1417		yen2023


Free cash flows			-547		-4462		-3915		300


		173末マツ		1712末マツ		差サ		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130		42000

株主資本カブヌシシホン			5529		38		5491		6600		6562

	株主資本比率カブヌシシホンヒリツ		130		01		129		169		168

純資産ジュンシサン			2757		2213		4970		4600		6813

Net有利子負債ユウリシフサイ			4961		4587		374		5900

	Net DEレシオ		-		-		-		-


期末日為替レート(米ドル）キマツビカワセベイ			yen112			yen112		yen112

Page 6: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

-5529 -39 5490

-2757 2209 4966

6829 4840 -1989

Net assets

(Yen in billions)

2014年度実績(ver1)

1-3QPretax income

1-3QTax amount

975

Split of the Memory

Split2455

(Yen in billions)

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

FY20161-3QOperating

operation-3123

+1051

(Yen in billions)

FY20161-3Q

761

Yendepreciation

+320

Fixed costs-276

Emergency measures

(bonus reductions

etc)-415

FY20171-3QOperating

income (loss)before

FY20171-3QOperating

income (loss) after

reclassification496

1-3QFY2017

Others -29 -210 -181 -

Total -118 383 501

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

		161-3Q		171-3Q		差サ			1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

売上高ウリアゲダカ			28354		28005		349			23800		4205

営業損益エイギョウソンエキ			761		502		259			2100		1598

			27		18		09			88		70

税引前損益ゼイビキマエソンエキ			643		885		242			2300		1415

			23		32		09			97		65

非支配持分控除前継続事業当期純損益			167		866		699

非支配持分控除前非継続事業当期純損益			6446		273		6173

当期純損益トウキジュンソンエキ			5325		272		5597			600		872

			188		10		198			25		35

1株当たりカブア					yen000			yen1417		yen1417

当期純損益トウキジュンソンエキ

フリーキャッシュフロー					0			300


		173E		1712E		Difference			1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130			42000

Equity attributable to shareholders of the Company			-5529		-39		5490			6600		6596

	Shareholders equity ratio		-130		-01		129			169		168

Net assets			-2757		2209		4966			4600		4821

Net interest-bearing debt			6829		4840		-1989			5900

	Net debt-to-equity ratio		-		-		-			-


Exchange rate (US$) as of the end date of the term			yen112		yen113		yen1			yen112

Page 7: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

-5529 -39 5490

-2757 2209 4966

6829 4840 -1989

Net assets

(Yen in billions)

2014年度実績(ver1)

1-3QPretax income

1-3QTax amount

975

Split of the Memory

Split2455

(Yen in billions)

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

FY20161-3QOperating

operation-3123

+1051

(Yen in billions)

FY20161-3Q

761

Yendepreciation

+320

Fixed costs-276

Emergency measures

(bonus reductions

etc)-415

FY20171-3QOperating

income (loss)before

FY20171-3QOperating

income (loss) after

reclassification496

1-3QFY2017

Others -29 -210 -181 -

Total -118 383 501

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

		161-3Q		171-3Q		差サ			1023公表コウヒョウ		対業績予想(1023公表) タイギョウセキヨソウコウヒョウ

売上高ウリアゲダカ			28354		28005		349			23800		4205

営業損益エイギョウソンエキ			761		502		259			2100		1598

			27		18		09			88		70

税引前損益ゼイビキマエソンエキ			643		885		242			2300		1415

			23		32		09			97		65

非支配持分控除前継続事業当期純損益			167		866		699

非支配持分控除前非継続事業当期純損益			6446		273		6173

当期純損益トウキジュンソンエキ			5325		272		5597			600		872

			188		10		198			25		35

1株当たりカブア					yen000			yen1417		yen1417

当期純損益トウキジュンソンエキ

フリーキャッシュフロー					0			300


		173E		1712E		Difference			1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

総資産ソウシサン				42130		42130			42000

Equity attributable to shareholders of the Company			-5529		-39		5490			6600		6596

	Shareholders equity ratio		-130		-01		129			169		168

Net assets			-2757		2209		4966			4600		4821

Net interest-bearing debt			6829		4840		-1989			5900

	Net debt-to-equity ratio		-		-		-			-


Exchange rate (US$) as of the end date of the term			yen112		yen113		yen1			yen112

Page 8: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

1-3QPretax income

1-3QTax amount

975

Split of the Memory

Split2455

(Yen in billions)

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

FY20161-3QOperating

operation-3123

+1051

(Yen in billions)

FY20161-3Q

761

Yendepreciation

+320

Fixed costs-276

Emergency measures

(bonus reductions

etc)-415

FY20171-3QOperating

income (loss)before

FY20171-3QOperating

income (loss) after

reclassification496

1-3QFY2017

Others -29 -210 -181 -

Total -118 383 501

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

Page 9: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

FY20161-3QOperating

operation-3123

+1051

(Yen in billions)

FY20161-3Q

761

Yendepreciation

+320

Fixed costs-276

Emergency measures

(bonus reductions

etc)-415

FY20171-3QOperating

income (loss)before

FY20171-3QOperating

income (loss) after

reclassification496

1-3QFY2017

Others -29 -210 -181 -

Total -118 383 501

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

Page 10: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

1-3QFY2017

Others -29 -210 -181 -

Total -118 383 501

Sheet1

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

	FY20161-3Q		FY20171-3Q		Difference		Main items in FY2017 3Q

Net financial income (loss)		-71		-158		-87		-

Foreign exchange income (loss)		-18		-15		03		-

Income (Loss) on sales ordisposal of fixed assets		156		147		-09		-

Income (Loss) on sales ofsecurities		40		692		652		-

Settlement costs of lawsuits		-196		-73		123		-

Others		-29		-210		-181		-


Total		-118		383		501

Page 11: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

-758

229

-3837

261

-776 -625

-497 -547

-4462

151-3Q 161-3Q 171-3Q

(Yen in billions)

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

Page 12: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Balance Sheets

5266 8349

92299854

4037376139961924

50075888

9949 8742

5211 638842695

20173E 201712E

Assets

Accounts receivable

InventoriesGoodwill

Other Assets

18494 16672

33633642

48184637

67376518

1204011228

4545242697

20173E 201712E

Liabilities

(Yen in billions)

44906

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

Page 13: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

Page 14: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

Page 15: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Others

Eliminations

(Yen in billions)

Sheet1

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

		161-3Q		171-3Q		Differece		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		6304		6610		306	(+5)			9800		9139

	Operating income (loss)		493		489		-04			2300		2251

	ROS		78		74		-04			235		161


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2209		-2384		-175			1600		1362

	Operating income (loss)		13		39		26			20		24


TotalAfter reclassification		Net sales		28354		28003		-351	(-1)			23800		21000

	Operating income (loss)		761		496		-265			2100		2050

	ROS		27		18		-09			88		70

Page 16: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Others

Eliminations

(Yen in billions)

By Segment

15

Sheet1

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

		161-3Q		171-3Q		Difference		（growth rate）		1023公表コウヒョウ		対業績予想(1023公表ベース) タイギョウセキヨソウコウヒョウ

Energy Systems amp Solutions		Net sales		6600		6115		-485	(-7)			4300		3689

	Operating income (loss)		-24		-121		-97			40		28

	ROS		-04		-20		-16			09		11


Infrastructure Systems amp Solutions		Net sales		8385		8306		-79	(-1)			5400		4569

	Operating income (loss)		215		113		-102			10		1

	ROS		26		14		-12			02		12


Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)			2400		2021

	Operating income (loss)		111		188		77			60		41

	ROS		30		49		19			25		24


Storage amp Electronic Devices Solutions		Net sales		12423		14895		2472	(+20)			9800		8311

	Operating income (loss)		1546		3680		2134			2300		1932

	ROS		124		247		123			235		12


Industrial ICT Solutions		Net sales		1625		1769		144	(+9)			1200		1023

	Operating income (loss)		44		-26		-70			0		3

	ROS		27		-15		-42			00		15


Others		Net sales		3931		3794		-137	(-3)			2300		1921

	Operating income (loss)		-91		-186		-95			210		191


Eliminations		Net sales		-2468		-2849		-381			1600		1315

	Operating income (loss)		11		-29		-40			20		17


Total Before reclassification		Net sales		34214		35823		1609	(+5)			23800		20218

	Operating income (loss)		1812		3619		1807			2100		1738

	ROS		53		101		48			88		13

非継続事業控除後合計ヒケイゾクジギョウコウジョゴゴウケイ		売上高ウリアゲダカ		28354		28005		349	(1)

	営業損益エイギョウソンエキ		761		502		259

	ROS		27		18		09

Page 17: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

1-3QFY2017

Net sales 6600 6115 -485 (-7)

ROS -04 -20 -16

Landis+Gyr

FCF by segment

Sheet1

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		6600		6115		-485	(-7)

		Operating income (loss)		-24		-121		-97

		ROS		-04		-20		-16

		FCF by segment			-4878

	Nuclear Power Systems		Net sales		992		917		-75	(-8)		Lower income and lower sales in a shrinking domestic market and from profit decrease in some projects

		Operating income (loss)		-48		-89		-41

		ROS		-48		-97		-49

	Thermal amp Hydro Power Systems		Net sales		2418		2637		219	(+9)		Higher sales on progress in projects using the percentage of completion method mainly plant projects in Japan Lower income due to provision for additional costs for construction projects

		Operating income (loss)		46		-3		-49

		ROS		19		-01		-20

	Transmission amp Distribution Systems		Net sales		2061		2073		12	(+1)		Higher sales and income from projects using the percentage of completion in the domestic TampD market

		Operating income (loss)		-5		12		17

		ROS		-02		06		08

	Landis+Gyr		Net sales		1294		658		-636		FY2017 results are for the period up to the IPO

		Operating income (loss)		65		34		-31

	Others		Net sales		-165		-170		-05		Includes eliminations within the segment and RampD cost for hydrgen related business

		Operating income (loss)		-82		-75		07

Page 18: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

00

10000

20000

201612E 201712E

[-4]

201712E

17

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

Page 19: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

1-3QFY2017

Net sales 8385 8306 -79 (-1)

ROS 26 14 -12

130

Net sales 2378 2232 -146 (-6)

ROS 08 -04 -12

Net sales 4142 4002 -140 (-3)

ROS 48 28 -20

Net sales 2174 2362 188 (+9)

ROS -01 04 05

FCF by segment

IndustrialSystems

Sheet1

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

			FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		8385		8306		-79	(-1)

		Operating income (loss)		215		113		-102

		ROS		26		14		-12

		FCF by segment			130

	Public Infrastructure		Net sales		2378		2232		-146	(-6)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		18		-09		-27

		ROS		08		-04		-12

	Building and Facilities		Net sales		4142		4002		-140	(-3)	Lower sales due to lower orders Lower operating income also reflected a scaling back of emergency measures

		Operating income (loss)		200		112		-88

		ROS		48		28		-20

	IndustrialSystems		Net sales		2174		2362		188	(+9)	Higher sales on higher order in industrial components Operating income improved

		Operating income (loss)		-03		10		13

		ROS		-01		04		05

Page 20: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

1-3QFY2017

Net sales 12423 14895 2472 (+20)

ROS 124 247 123

ROS 161 369 208

HDDs Net sales 3458 3371 -87 (-3)

ROS 79 60 -19

ROS 96 90 -06

FCF by segment

Sheet1

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

				FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		12423		14895		2472		(+20)

			Operating income (loss)		1546		3680		2134

			ROS		124		247		123

			FCF by segment			1593

	Storage		Memories		Net sales		6351		8756		2405		(+38)		Stable prices supported by strong demand for smart phones and SSD Both net sales and operating income were higher than for the same period last year

			Operating income (loss)		1022		3227		2205

			ROS		161		369		208

		HDDs		Net sales		3458		3371		-87		(-3)		Higher sales supported by growth in enterprise market However lower overall sales and lower operating income as shrinkg in the PC market

			Operating income (loss)		272		203		-69

			ROS		79		60		-19

	Devices amp Others			Net sales		2614		2768		154		(+6)		Higher income on higher sales in Discretes supported by positive performance in industrial market Overall sales and income was flat as System LSI income declined

			Operating income (loss)		252		250		-2

			ROS		96		90		-06

Page 21: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

355 241

1043

31

542

1315

-149

763

1322

-1247

924

(Yen in billions)

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

Page 22: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

1-3QFY2017

Net sales 3718 3793 75 (+2)

ROS 30 49 19

92

FY20161-3Q

FY20171-3Q

Net sales 1625 1769 144 (+9)

ROS 27 -15 -42

46FCF by segment

FCF by segment

21

Sheet1

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Retail amp Printing Solutions		Net sales		3718		3793		75	(+2)

	Operating income (loss)		111		188		77

	ROS		30		49		19

	FCF by segment			92



		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

Industrial ICT Solutions		Net sales		1625		1769		144	(+9)

	Operating income (loss)		44		-26		-70

	ROS		27		-15		-42

	FCF by segment			46

Page 23: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Others

1-3QFY2017

PC Net sales 1405 1196 -209 (-15)

ROS 00 -55 -55

ROS -192 -175 17

Sheet1

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

		FY20161-3Q		FY20171-3Q		Difference		(growth rate)

PC		Net sales		1405		1196		-209	(-15)	Lower sales due to complete withdrawal from overseas B2C business and sluggish sales domestic B2C and in B2B markets in Europe and North America In addition to lower sales increases in component costs such as SSD resulted in deteriorated operating income

	Operating income (loss)		00		-66		-66

	ROS		00		-55		-55

Visual Products		Net sales		463		365		-98	(-21)	Lower sales due to scaling back of domestic B2C business Operating income was better than the same period last year when provision was made for the cost of quality issue

	Operating income (loss)		-89		-64		25

	ROS		-192		-175		17

Page 24: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

3 FY2017 Forecast

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

Page 25: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Overall

difference

49700 49900 200 -10900 39000

4300 4400 100 -4400 00

4000 4600 600 -4400 200

-1100 5200 6300 00 5200

-3800 -5500 -1700 00 -5500

2018 3Eforecast

difference

-7500 4600 12100

yen110 yen110 yen0

Net sales

Net assets

(Yen in billions)

the Memory business

Sheet1

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

		Previous Forecast(Nov 9)Before Memory reclassification		FY17 Forecast(Feb 14)Before Memory reclassificaion		difference			119公表値コウヒョウチ		対前回予想(119公表)ﾒﾓﾘ非継続組替前タイゼンカイヨソウコウヒョウヒケイゾククミカマエ				FY17 Forecast(Feb 14)After Memory reclassification

Net sales			49700		49900		200			497000		-447100			-10900		39000

Operating income (loss)			4300		4400		100			43000		-38600			-4400		00

							01					00

Income (loss) before income taxes and noncontrolling interests			4000		4600		600			40000		-35400			-4400		200

							01					00

非支配持分控除前継続事業当期純損益

非支配持分控除前非継続事業当期純損益

Net income (loss)			-1100		5200		6300			-11000		16200			00		5200

							-00					01

1株当たりカブア

当期純損益トウキジュンソンエキ

Free cash flows			-3800		-5500		-1700			-38000		32500			00		-5500


		Previous forecast(Nov9)					119公表値コウヒョウチ		対前回予想(119公表ベース) タイゼンカイヨソウコウヒョウ				2018 3E forecast		difference

総資産ソウシサン			ERRORREF					51407		ERRORREF					0

Equity attributable to shareholders of the Company			-7500					7500		7960				4600		12100

	Shareholders equity ratio		-192					192		+304				112		304

Net assets			-5300					-53000		59900				6900		12200

Net interest-bearing debt			9400					94000		-88000				6000		-3400

	Net DEレシオ		-					-		-				-		-


Exchange rate (US$) of the end date of the term			yen110									yen110		yen0

Page 26: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

-10000

-5000

00

5000

10000

15000

20000

WEC claims+1800

sales of the Memory

business

assets+1100

(Yen in billions)

business

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

Page 27: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

-6000

-4000

-2000

00

2000

4000

6000

8000

10000

company guarantees

+5300

Others-200

New share issue

-6000

(Yen in billions)

After the sales of

the Memorybusiness

business

26

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

Page 28: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

FY2017Forecast

Others

Eliminations

27

Sheet1

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200

	Operating income (loss)		-417		-50		367			180

	ROS		-43		-06		37


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500

	Operating income (loss)		584		420		-164			420

	ROS		46		33		-13


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000

	Operating income (loss)		163		220		57			170

	ROS		32		43		11


Storage amp Electronic Devices Solutions		Net sales		8371		8500		129	(+2)			19200

	Operating income (loss)		576		450		-126			4150

	ROS		69		53		-16


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500

	Operating income (loss)		71		30		-41			50

	ROS		29		12		-17


Others		Net sales		5356		5100		-256	(-5)			5200

	Operating income (loss)		-171		-400		-229			220


Eliminations		Net sales		-3136		-3200		-64			3900

	Operating income (loss)		14		-670		-684			450


TotalAfter reclassification		Net sales		40437		39000		-1437	(-4)			49700

	Operating income (loss)		820		00		-820			4300

	ROS		20		00		-20			87

Page 29: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

FY2017Forecast

Others

Eliminations

2

1

28

Sheet1

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

		FY2016Actual		FY2017 Forecaston Feb14		Difference		(growth rate)		前回ゼンカイ		vs previousforecast onNov9 base

Energy Systems amp Solutions		Net sales		9749		8400		-1349	(-14)			9200		00

	Operating income (loss)		-417		-50		367			180		-100

	ROS		-43		-06		37				-12


Infrastructure Systems amp Solutions		Net sales		12624		12600		-24	(-0)			12500		00

	Operating income (loss)		584		420		-164			420		00

	ROS		46		33		-13				00


Retail amp Printing Solutions		Net sales		5077		5100		23	(+0)			5000		00

	Operating income (loss)		163		220		57			170		00

	ROS		32		43		11				00


Storage amp Electronic Devices Solutions		Net sales		17002		20100		3098	(+18)			19200		300

	Operating income (loss)		2470		4900		2430			4150		300

	ROS		145		244		99				12


Industrial ICT Solutions		Net sales		2396		2500		104	(+4)			2500		00

	Operating income (loss)		71		30		-41			50		00

	ROS		29		12		-17				00


Others		Net sales		5356		5100		-256	(-5)			5200		-100

	Operating income (loss)		-171		-400		-229			220		-100


Eliminations		Net sales		-3496		-3900		-404			3900		00

	Operating income (loss)		08		-720		-728			450		00


TotalBefore reclassification		Net sales		48708		49900		1192	(+2)			49700		200

	Operating income (loss)		2708		4400		1692			4300		100

	ROS		56		88		32			87		01

Page 30: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Appendix

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

Page 31: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

FY2016Actual

FY2017Forecast

FY20171-3Q

Actual

FY20173Q

Actual

56 1000 00

－

Total

Others

92

22

111

144

266

70

47

191

63

182

09

80

572705

30

155

09

33

15

66

02

150

1000

00

-5800

00

-5800

130

400

100

200

20

30

Sheet1

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Capital Expenditure(Commitment Basis)		15上期実績カミキジッセキ	16上期実績カミキジッセキ		FY2016Actual	17年度見通し(810) ネンドミトオ	FY2017Forecast	vs previous Forecaston Nov9	FY20171-3QActual	FY20173QActual	Major Itemsin FY20173Q

	Energy Systems amp Solutions	167	132		144	2000	130	00	47	09	－



	Infrastructure Systems amp Solutions	169	104		266	4500	400	00	191	33	－



	Retail amp Printing Solutions	55	36		70	1400	100	00	63	15	－



	Storage amp Electronics Devices Solutions	1242	896		92	33000	200	-5800	182	66	－



	Industrial ICT Solutions	26	12		22	300	20	00	09	02	－



	Others	119	67		111	1300	150	00	80	30	－



	Total	1778	1246		705	42500	1000	-5800	572	155



Investments and Loans				56	800	1000	00

Page 32: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

transfer

Now

plan starts

Sep 2018(estimate)

March 27(plan)

March 292017

31

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Page 33: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Customers

LNG

Toshiba

Feed Gas(to be

procured from

tolling service

LossProfit

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Page 34: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

(Yen in billions)

33

Sheet1

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Assets		20173E	201712E

	Cash and cash equivalents	1866	194

	Notes and accounts recievable trade	1504	2266

	Inventories	1243	1463

	Short-term loans receivable	17	3731

	Property plant and equipment	2548	3124

	Equity method investments in affiliates	1494	2270

	Other assets	866	1853

	Total assets	9538	14901


Liabilities		20173E	201712E

	Short-term borrowings	12	76

	Notes and accounts payable trade	730	869

	Accounts payable other and accrured expenses	1604	2646

	Accrued income and other taxes payables	496	4304

	Accrued pension and severance costs	493	495

	Other liabilities	325	248

	Total liabilities	3660	8638

Page 35: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

FY2017Forecast

Landis+Gyr

Others

34

Sheet1

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Energy Systems amp Solutions			Net sales		9749		8400		-1349	(-14)

		Operating income (loss)		-417		-50		367

		ROS		-43		-06		37

	Nuclear Power Systems		Net sales		1821		1618		-203	(-11)

		Operating income (loss)		-451		-20		431

		ROS		-248		-12		236

	Thermal amp Hydro Power Systems		Net sales		3391		3476		85	(+3)

		Operating income (loss)		39		07		-32

		ROS		12		02		-10

	Transmission amp Distribution Systems		Net sales		2977		2838		-139	(-5)

		Operating income (loss)		27		11		-16

		ROS		09		04		-05

	Landis+Gyr		Net sales		1812		658		-1154

		Operating income (loss)		74		34		-40

	Others		Net sales		-252		-190		62

		Operating income (loss)		-106		-82		24

Page 36: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

FY2017Forecast

Net sales 12624 12600 -24 (-0)

ROS 46 33 -13

Net sales 4219 3957 -262 (-6)

ROS 68 46 -22

Net sales 5706 5594 -112 (-2)

ROS 44 30 -14

Net sales 3099 3417 318 (+10)

ROS 14 20 06

Industrial Systems

Sheet1

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

			FY2016Actual		FY2017Forecast		Difference		(growth rate)

Infrastructure Systems amp Solutions			Net sales		12624		12600		-24	(-0)

		Operating income (loss)		584		420		-164

		ROS		46		33		-13

	Public Infrastructure		Net sales		4219		3957		-262	(-6)

		Operating income (loss)		288		184		-104

		ROS		68		46		-22

	Building and Facilities		Net sales		5706		5594		-112	(-2)

		Operating income (loss)		253		169		-84

		ROS		44		30		-14

	Industrial Systems		Net sales		3099		3417		318	(+10)

		Operating income (loss)		43		67		24

		ROS		14		20		06

Page 37: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

(Yen in billions)

FY2016Actual

FY2017Forecast

Net sales 17002 20100 3098 (+18)

ROS 145 244 99

HDDs Net sales 4613 4386 -227 (-5)

ROS 71 50 -21

Devices amp Others

36

Sheet1

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29

				FY2016Actual		FY2017Forecast		Difference		(growth rate)

Storage amp Electronic Devices Solutions				Net sales		17002		20100		3098		(+18)

			Operating income (loss)		2470		4900		2430

			ROS		145		244		99

	Storage		Memories		Net sales		8972		12258		3286		(+37)

			Operating income (loss)		1866		4497		2631

			ROS		208		367		159

		HDDs		Net sales		4613		4386		-227		(-5)

			Operating income (loss)		360		230		-130

			ROS		78		52		-26

	Devices amp Others			Net sales		3417		3456		39		(+1)

			Operating income (loss)		244		173		-71

			ROS		71		50		-21

Page 38: FY2017 Third Quarter Consolidated Business ResultsFY2017 Third Quarter Consolidated Business Results *IPO: Initial Public Offering Cash Flows: Cash flows from operating activities

Others

FY2017Forecast

PC Net sales 1918 1700 -218 (-11)

ROS -03 -53 -50

ROS -209 -180 29

Sheet1

Cash Flows
Balance Sheets
Others
Overall
Others

		FY2016Actual		FY2017Forecast		Difference		(growth rate)

PC		Net sales		1918		1700		-218	(-11)

	Operating income (loss)		-5		-90		-85

	ROS		-03		-53		-50

Visual Products		Net sales		616		500		-116	(-19)

	Operating income (loss)		-129		-90		39

	ROS		-209		-180		29