Summary of Business Results for the Year Ended March 31, 2014
[Japan GAAP] (Non-consolidated)
May 8, 2014
Listed on the TSETOSHO 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 25, 2014
Expected starting date of dividend payment: June 26, 2014
Expected date of filing of annual securities report: June 27, 2014
Preparation of supplementary financial document: NoneResults briefing: Yes (for analysts)
Company
Stock CodeRepresentative（Rounded down to million yen）

１. Business results for the fiscal year ended March 2014 (April 1, 2013 through March 31, 2014)(1) Results of operations

Year ended Mar. 2014
Year ended Mar. 2013

Net sales
Million yen%
15,226
14.7
13,271
10.6
Net income
per share(% change from the previous corresponding period)
Operating income
Ordinary income
Net income
Million yen% Million yen%
Million yen
%
3,616
18.8
3,501
23.0
1,975
24.2
3,043
20.6
2,845
22.3
1,591
28.9

Diluted net income
per share
YenYear ended Mar. 2014
Year ended Mar. 2013

Return onequityYen

107.2990.29%-16.2
16.7

Ratio of ordinary
income to total
assets
%11.4
10.2

Ratio of operating
income to net sales
%
23.7
22.9

(Reference) Investment earnings/loss on equity-method:Year ended March 2014: - million yen
Year ended March 2013: - million yen(2) Financial position
Total assets

Net assets

Million yen
32,292
28,874As of Mar. 2014
As of Mar. 2013

Shareholders’ equity
ratio

Million yen
13,645
10,686

Net assets pershare%

Yen

42.3
37.0

712.37581.09Cash flows fromfinancing activities
Million yen
431-741

Cash and cash equivalents
at the end of period
Million yen
4,100
1,955

(Reference) Shareholders’ equity:
As of March 2014: 13,645 million yen
As of March 2013: 10,686 million yen(3) Results of cash flows

Year ended Mar. 2014
Year ended Mar. 2013

Cash flows fromoperating activities
Million yen
3,742
3,300

Cash flows frominvesting activities
Million yen-2,029-2,245

2. Dividends
Annual dividendYear ended Mar. 2013
Year ended Mar. 2014
Year ending Mar. 2015
(forecast)End of1Q
Yen-End of2Q
Yen
7.00
8.00
9.00

End of3Q
Yen-Year-end

TotalYen
8.00
10.00
9.00

(Note) Breakdown of year-end dividend for FY ended Mar. 2014
dividend: 2.00 yen－ 1 －Yen
14.00
18.00
18.00

Total
dividend(Total)Dividend
payout ratio

Rate of total
dividend tonet assets

%
15.5
16.8%
2.6
2.8

Million yen
251338-

Ordinary dividend: 8.00 yen, Commemorative3．Forecast of business results for the fiscal year ending March 2015
(April 1, 2014 through March 31, 2015)
Net sales

For the six monthsending Sept. 30, 2014
Year ending Mar. 2015

Operating income%(% change from the previous corresponding period)
Ordinary income
Net income
Net income pershareYen
Million yen%
Million yen%

Million yen%

Million yen

8,020

9.0

2,025

16.4

1,985

17.9

1,080

18.0

56.38

16,300

7.1

4,083

12.9

4,000

14.3

2,260

14.4

117.98*Notes(1) 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

(2) Shares outstanding (common stock)① Number of shares outstanding at the end of period (treasury stock included)
As of March 2014
19,157,500 shares
As of March 2013
18,392,351 shares② Treasury stock at the end of period:
As of March 2014
3,089 shares
As of March 2013
2,491 shares③ Average number of stock during period
Year ended March 2014
18,417,062 sharesYear ended March 2013
17,623,061 shares*Implementation status of auditing procedures
At the time of disclosure of this report, the auditing procedures of financial statements pursuant to the Financial
Instruments 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 the company
deems to be reasonable at the time this report was prepared. The company does not guarantee future results. Thecompany does not make promises about the achievements. Actual results may differ significantly from the forecasts due
to various factors.

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