Summary of Business Results for the Year Ended March 31, 2016
[Japan GAAP] (Consolidated)
May 10, 2016
Listed on the TSE/NSETOSHO CO., LTD8920
URL http://www.to-sho.net/Toshihiro Kutsuna, President and CEO
Naoya Kuwazoe,
C o n t a c t
T E L: +81-566-79-3111
Managing Director, Manager of Administrative Dept.
Expected date of annual shareholders’ meeting: June 14, 2016
Expected starting date of dividend payment: June 15, 2016
Expected date of filing of annual securities report: June 27, 2016
Preparation of supplementary financial document: NoneResults briefing: Yes (for institutional investors and analysts)
Company
Stock Code
Representative（Rounded down to million yen ）１. Consolidated business results for the year ended March 2016 (April 1, 2015 through March 31, 2016)(1) Consolidated results of operations(% change from the previous corresponding period)

Net salesYear ended Mar. 2016
Year ended Mar. 2015

Million yen
19,224
16,888Operating income%
13.8-

Million yen
5,449
4,305

Net income attributable toowners of parent

Ordinary income%

26.6-

Million yen
5,380
4,203%
28.0-

Million yen
3,156
2,536%
24.5-(Note) Comprehensive income
Year ended March 2016: 3,375 million yen (33.1%)
Year ended March 2015: 2,536 million yen (-%)

Net income
per share

Diluted net income
per share
Yen

Year ended Mar. 2016
Year ended Mar. 2015

Return on
equityYen

164.79132.40

%

-17.9
17.0

Ratio of ordinary
income to total
assets
%13.6
12.3

Ratio of operating
income to net sales
%
28.3
25.5

(Reference) Investment earnings/loss on equity-method:Year ended March 2016: - million yen
Year ended March 2015: - million yen(2) Consolidated financial positionTotal assets

Net assets

Million yen
43,11036,297

As of Mar. 2016
As of Mar. 2015

Shareholders’ equityratio

Million yen
19,99917,016

Net assets
per share%

Yen

44.1
44.8

993.03848.26

Cash flows fromfinancing activities
Million yen
1,444
723

Cash and cash equivalents
at the end of period
Million yen
9,003
6,386

(Reference) Shareholders’ equity:
As of March 2016: 19,020 million yen
As of March 2015: 16,247 million yen(3) Consolidated results of cash flows

Year ended Mar. 2016
Year ended Mar. 2015

Cash flows fromoperating activities
Million yen5,815
4,492

Cash flows frominvesting activities
Million yen-4,642-2,930

2. Dividends
Annual dividend
End of1Q
Year ended Mar. 2015
Year ended Mar. 2016
Year ending Mar. 2017
(forecast)Yen-

End of2Q
Yen
9.00
10.00
11.00

End of
3Q
Yen-Year-end
Yen
10.00
11.00
11.00

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Total
Yen
19.00
21.00
22.00

Total
dividend(Total)
Million yen
363
402

Dividend
payout ratio(Consolidated)
%
14.4
12.7
12.7

Rate of total
dividend tonet assets(Consolidated)
%
2.4
2.3

3．Forecast of consolidated business results for the fiscal year ending March 2017
(April 1, 2016 through March 31, 2017)
Net sales
For the six months
ending Sept. 30, 2016
Year ending Mar. 2017(% change from the previous corresponding period)

Operating income

Ordinary income
Million yen%%

Net income
attributable toowners of parent
Million yen%

Net income
per share

Million yen%

Million yen

Yen

10,120

7.2

2,733

3.4

2,716

4.6

1,600

4.7

83.54

20,700

7.7

5,760

5.7

5,720

6.3

3,330

5.5

173.85*Notes(1) Changes in significant subsidiary during the period (changes in specified subsidiary accompanying changes inthe scope of consolidation): None
(2) Changes in accounting policies, accounting estimates and restatement①Changes in accounting policies associated with revision of accounting standards:②Changes in accounting policies other than ①③Changes in accounting estimates④Restatement: None: None: None: None(3) Shares outstanding (common stock)① Number of shares outstanding at the end of period (treasury stock included)
As of March 2016
19,157,500 shares
As of March 2015
19,157,500 shares② Treasury stock at the end of period:
As of March 20163,852 shares
As of March 2015
3,574 shares③ Average number of stock during period
Year ended March 2016
19,153,731 sharesYear ended March 2015
19,154,060 shares(Reference) Summary of non-consolidated business results
1. Non-consolidated business results for the year ended March 2016 (April 1, 2015 through March 31, 2016)(1) Non-consolidated results of operations(% change from the previous corresponding period)
Operating revenues
Million yen

Year ended Mar. 2016
Year ended Mar. 2015

Operating income%

16,336
15,8373.2
4.0

Net incomeper share%

4,451
3,994

11.410.5

Net income

Million yen%

Million yen

%

4,450
3,920

13.5
12.0

2,805
2,320

20.9
17.4

Diluted net
income per shareYen

Year ended Mar. 2016
Year ended Mar. 2015

Ordinary income

Million yen

146.48121.13

Yen-(2) Non-consolidated financial position
Total assets
Million yen

As of Mar. 201635,249As of Mar. 2015
30,847(Reference) Shareholders’ equity:
As of March 2016: 18,022 million yen
As of March 2015: 15,600 million yen

Net assets

Shareholders’ equity
ratio

Million yen

18,022
15,600－ 2 －Net assets pershare%

51.1
50.6Yen940.93
814.48

2．Non-consolidated forecast of business results for the fiscal year ending March 2017
(April 1, 2016 through March 31, 2017)
Net sales
For the six months
ending Sept. 30, 2016
Year ending Mar. 2017(% change from the previous corresponding period)

Ordinary income

Net income
per share

Net income

Million yen%

Million yen%

Million yen%

Yen

8,426

4.7

2,191

1.6

1,390

1.4

72.57

17,180

5.2

4,620

3.8

2,910

3.7

151.92*Implementation status of auditing procedures
At the time of disclosure of this report, the auditing procedures of financial statements pursuant to the FinancialInstruments and Exchange Act are being conducted.
*Appropriate Use of Financial Forecasts and Other Important Matters
Above forecasts are based on information currently available to the company and certain assumptions that thecompany deems to be reasonable at the time this report was prepared. The company does not guarantee future results.
The company does not make promises about the achievements. Actual results may differ significantly from theforecasts due to various factors.

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