Summary of Business Results for the Year Ended March 31, 2011
[Japan GAAP] (Non-consolidated)
May 9, 2011
Listed on the OSE JASDAQ MarketCompany
TOSHO CO., LTD.
St o c k C o d e8920
URL http://www.to-sho.net/
Representative
Toshihiro Kutsuna, President and CEO
C o n t a c t
Naoya Kuwazoe, Director, Manager of Administrative Dept.
T E L: +81- 566-79-3111
Expected date of annual shareholders’ meeting: June 22, 2011
Expected starting date of dividend payment: June 23, 2011
Expected date of filing of annual securities report: June 24, 2011
Preparation of supplementary financial document: None
Results briefing: Yes (for institutional investors and individual investors)（Rounded down to million yen）

１. Business results for the year ended March 2011 (April 1, 2010 through March 31, 2011)(1) Results of operations

Year ended Mar. 2011
Year ended Mar. 2010(% change from the previous corresponding period)

Net sales
Million yen%
10,803
1.9
10,597(2.8)
Net incomeper share

Operating income
Million yen%
2,198
(5.9)
2,335
4.3

Return onequity

Diluted net
income per shareYenYen%――60.89
65.39Year ended Mar. 2011
Year ended Mar. 2010

Ordinary income
Million yen%
2,000(4.2)
2,087
6.8

15.4
19.2

Net income
Million yen%
1,071(3.2)
1,106
1.7

Ratio of ordinary
income to total
assets
%7.8
8.1

Ratio of operating
income to net sales
%
20.4
22.0

(Reference) Investment earnings/loss on equity-method:Year ended March 2011: ― million yen
Year ended March 2010: ― million yen(2) Financial position
Total assets

Net assets

Million yen
25,932
25,219As of Mar. 2011
As of Mar. 2010

Million yen
7,387
6,500

Shareholders’ equity
ratio%
28.5
25.8

Net assets pershareYen
419.89369.49(Reference) Shareholders’ equity:
As of March 2011: 7,386 million yen
As of March 2010: 6,499 million yen(3) Results of cash flows

Year ended Mar. 2011
Year ended Mar. 2010

Cash flows fromoperating activities
Million yen
2,410
2,370

Cash flows frominvesting activities
Million yen(1,224)(218)

Cash flows fromfinancing activities
Million yen(1,297)(2,243)

Cash and cash equivalents
at the end of period
Million yen
1,502
1,613

2. Dividends
Annual dividendYear ended Mar. 2010
Year ended Mar. 2011
Year ending Mar. 2012
(forecast)End of
1Q
Yen―――

End of2Q
Yen
5.00
5.50
6.00

End of3Q
Yen―――

Year-end

Annual

Yen
5.00
5.50

Yen
10.00
11.00

6.00

12.00

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Total
dividend(Total)
Million yen
165
193

Dividend
payout ratio

Rate of total
dividend tonet assets

%
15.3
18.1%
3.6
2.8

17.3

3．Forecast of business results for the year ending March 2012 (April 1, 2011 through March 31, 2012)(% change from the previous year)
Net sales

For the six months
ending Sept. 30, 2011Year ending Mar. 2012

Operating income

Ordinary income

Net income

Net income pershareYen

Million yen%

Million yen%

Million yen%

Million yen%

5,800

8.5

1,270

4.2

1,160

3.0

600

2.7

34.10

11,900

10.2

2,520

14.6

2,300

15.0

1,220

13.9

69.34

4. Others(1) Change in significant accounting policies① Changes due to revision of accounting standards: Yes② Changes other than ①: None
(2) Shares outstanding (common stock)① Number of shares outstanding at the end of period (treasury stock included)
As of March 2011
17,592,351shares
As of March 201017,592,351shares②Treasury stock at the end of period:
As of March 2011
1,889 shares
As of March 2010
1,669 shares③ Average number of stock during period (cumulative period)
Year ended March 2011
17,590,577 sharesYear ended March 2010
16,916,863 shares※Implementation status of auditing procedure
At the time of disclosure of this report, the audit of financial statements pursuant to the Financial Instruments andExchange Act is being performed.
※Appropriate Use of Financial Forecasts and Other Important Matters
Above forecasts regarding future performance are based on information currently available to the Company and certain
assumptions that the Company deems to be reasonable at the time this report was prepared. Actual results may differ
significantly from the forecasts due to various factors.

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