Summary of Business Results for the Second Quarter Ended September 30, 2014
[Japan GAAP] (Non-consolidated)
October 31, 2014
Company
Stock Code
Representative
Contact

Listed on the TSE/NSETOSHO CO., LTD8920
URL http://www.to-sho.net/
Toshihiro Kutsuna, President and CEO
Naoya Kuwazoe,
T E L: +81-566-79-3111
Managing Director, Manager of Administrative Dept.
Expected date of filing of quarterly report: November 5, 2014
Expected starting date of dividend payment: December 10, 2014
Preparation of quarterly supplementary financial document: None
Quarterly results briefing: Yes (For individual and institutional investors and analysts)（Rounded down to million yen）

１. Business results for the six months ended September 2014 (April 1, 2014 through September 30, 2014)(1) Results of operations
Net sales
Million yen
%
8,273
12.4
7,361
12.8

Six months ended Sept. 2014
Six months ended Sept. 2013

Net income
per shareYen
65.61
49.76

Six months ended Sept. 2014
Six months ended Sept. 2013(% change from the previous corresponding period)
Operating income
Ordinary income
Net income
Million yen% Million yen% Million yen%
2,19225.92,132
26.7
1,256
37.3
1,740
12.6
1,683
15.7
915
7.4
Diluted net income pershareYen――(2) Financial position
Total assets

Net assets

Million yen
As of Sept. 2014
34,410
As of Mar. 2014
32,292(Reference) Shareholders’ equity:
As of September 2014: 14,709 million yen
As of March 2014:
13,645 million yen

Million yen
14,70913,645

Shareholders’ equity
ratio%
42.7
42.3

Net assets per
shareYen
767.97712.37

2. Dividends
End of 1Q
Yen
Year ended Mar. 2014
Year ending Mar. 2015
Year ending Mar. 2015 (forecast)

Annual dividendEnd of 3Q

End of 2Q
Yen――Year-end
Yen

8.00
9.00

TotalYen

Yen―

10.00

18.00

―

8.00

18.00

(Note) Revisions to dividend forecast for the current quarter: None
Breakdown of year-end dividend for fiscal year ending March 2014: Ordinary dividend 8.00yen, Commemorative dividend 2.00 yen

3．Forecast of business results for the fiscal year ending March 2014 (April 1, 2014 through March 31, 2014)(% change from the previous corresponding period)
Net salesYear ending Mar. 2014

Operating income

Ordinary income

Net income

Net income pershare

Million yen%Million yen%

Million yen%

Million yen%

16,300

7.1

4,083

12.9

4,000

14.3

2,260

14.4

Yen

117.98(Note) Revisions to business forecast for the current quarter: None
At the board of the directors meeting on August 11, 2014, TOSHO resolved to establish a wholly owned company
through the company split. That company will be consolidated subsidiary on October 2014. The company is planned toadopt consolidated accounting from the third quarter of the fiscal year ending March 2015.

－ 1 －※Notes(1) Application of accounting procedures specific to preparation of the quarterly financial statements: 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)①Number of shares outstanding at the end of period (treasury stock included)
As of September 2014
19,157,500 shares
As of March 2014
19,157,500 shares②Treasury stock at the end of period
As of September 2014
3,442 shares
As of March 2014
3,089 shares③Average number of stock during period (quarterly cumulative period)
Six months ended September 2014
19,154,141 shares
Six months ended September 2013
18,389,337 shares※Implementation status of quarterly review procedure
At the time of disclosure of this report, the procedures for review of financial statements pursuant to the Financial
Instruments and Exchange Act are being conducted.
※Explanation regarding appropriate use of business forecasts and other special instructions
The above forecasts regarding future performance in this material are based on information currently available to theCompany and certain assumptions that the company deems to be reasonable at the time this report was prepared. TheCompany does not make promises about the achievements. Actual results may differ significantly from the forecasts due
to various factors.

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