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05
TOSHIBA Annual Report 2012
DIVIDEND
The Company, while giving full consideration to such factors as the strategic investments necessary to secure medium- to
long-term growth, seeks to achieve continuous increases in its actual dividend payments, in line with a payout ratio in the
region of 30 percent, on a consolidated basis.
The Company has decided to pay both an interim dividend and a year-end dividend. The Company paid 4.0 yen per
share as the interim dividend and the year-end dividend has been set at 4.0 yen per share. As a result, the annual dividend
for FY 2011 will be 8.0 yen per share, 3 yen increase per share from the previous year.
The Company will carefully examine and decide on the dividend plan for the next term, FY2012, in light of the Group's
financial position, strategic investment plans and other factors. The Company will announce the dividend for FY2012 as
soon as it is determined.
RESULTS BY INDUSTRY SEGMENT
Billions of yen
Net Sales Operating Income (loss)
Year ended March 31 −Change
(%) − Change
Digital Products 1,664.0 (13%) (28.2) (57.1)
Electronic Devices 1,616.3 (8%) 90.2 19.0
Social Infrastructure 2,412.8 +6% 134.2 4.6
Home Appliances 576.8 (4%) 5.7 (3.1)
Others 326.9 (2%) 2.9 2.2
Eliminations (496.5) − 1.8 −
Total 6,100.3 (5%) 206.6 (33.7)
DIGITAL PRODUCTS
The Digital Products segment saw overall sales decrease by 253.7 billion yen to 1,664.0 billion yen ($20,292.5 million).
Even though the Visual Products business, which includes TVs, saw sales increase in emerging economies, it recorded a
significant decrease in sales in Japan on lower unit sales following the completion of the transition to terrestrial digital
broadcasting and the expiration of the eco-point stimulus program in Japan and on price declines. The PC business also
recorded a decrease in sales, the result of currency translation adjustments due to sharp yen appreciation, sluggish sales
in the United States and Europe.
Overall segment operating income (loss) deteriorated by 57.1 billion yen to -28.2 billion yen ($-343.8 million). The PC
business recorded higher operating income on the execution of proactive cost reductions and lower parts and material
costs. However, the Visual Products business saw deterioration in operating income (loss) on significantly lower unit sales
and the impact of price declines in Japan, despite improvement from making the best use of original design
manufacturers and the reorganization and consolidation of domestic and overseas facilities.
ELECTRONIC DEVICES
The Electronic Devices segment saw overall sales decrease by 141.6 billion yen to 1,616.3 billion yen ($19,710.5 million).
The Storage Products business saw sales rise on a healthy performance centered on the HDDs, but the Semiconductor
business saw a decrease in sales due to sharp yen appreciation, the floods in Thailand, price declines in Memories and a
fall-off in demand for Discretes and System LSIs. The LCD business also saw lower sales, largely attributable to the FY2010
sale of AFPD Pte., Ltd., an overseas subsidiary that manufactured LCDs for PCs, as a part of business restructuring.
Overall segment operating income increased by 19.0 billion yen to 90.2 billion yen($1,099.7 million). The Semiconductor
business saw a decrease in operating income on lower demand for Discretes and System LSIs, yen appreciation and the
floods in Thailand, despite the positive impact of restructuring and cost reductions and although Memories recorded a
solid performance on increased unit sales. The Storage Products business recorded a healthy performance centered on
the HDDs and the LCD business recorded higher operating income reflecting progress in business restructuring.
SOCIAL INFRASTRUCTURE
The Social Infrastructure segment saw overall sales increase by 135.1 billion yen to 2,412.8 billion yen ($29,424.6 million).
The Power Systems and Industrial Systems business recorded higher sales, mainly on a healthy performance in the
Thermal & Hydro Power Systems and the positive effect contributed by the acquisition of Landis+Gyr AG (“L+G”). The
Elevator and Building Systems business also saw higher sales.
Overall segment operating income increased by 4.6 billion yen to 134.2 billion yen($1,637.2 million). The Power Systems
and Industrial Systems business recorded higher operating income on higher sales and the IT solutions business also saw
higher operating income.