Summary of Financial Results for the Second Quarter of Fiscal Year 2011
(Six Months Ended June 30, 2011)[Japanese GAAP]
July 28, 2011
Company name: Senshukai Co., Ltd.
Stock exchanges: Tokyo and Osaka, First Sections
Stock code:
8165
URL: http://www.senshukai.co.jp
Representative:
Mr. Michio Tanabe, President and Representative Director
Inquiries:
Mr. Kiichi Tagawa, Senior Managing Director
Tel: +81-6-6881-3100
Scheduled date of filing of Quarterly Report: August 12, 2011
Scheduled date of payment of dividend: September 1, 2011
Preparation of supplementary materials for quarterly financial results: Yes
Holding of quarterly financial results meeting: Yes(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the 2nd Quarter of 2011 (January 1, 2011 – June 30, 2011)(1) Consolidated operating results (cumulative)(Percentages represent changes from the same period of the previous fiscal year)
Operating income
Ordinary income
Net income

Net sales
Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

69,542
69,629

(0.1)
(8.8)

2,398
2,057

16.6
-

2,631
2,010

30.9
88.8

2,166
1,451

49.3
98.0

2Q 2011
2Q 2010

Diluted net income pershare

Net income per share
2Q 2011
2Q 2010

Yen

Yen

50.01
33.51

-

(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

2Q 201186,868
Fiscal Year 2010
90,086
Reference: Shareholders’ equity (million yen)

41,781
39,411
2Q 2011:

Net assets per share
%

Yen

48.1
43.7
Fiscal Year 2010:

41,781

964.73909.9939,411

2. Dividends
1Q-endFiscal Year 2010
Fiscal Year 2011
Fiscal Year 2011 (forecasts)

Dividend per share
3Q-end2Q-endYearend

Total

Yen

Yen

Yen

Yen

Yen

-

6.00
7.00

-

8.00

14.00

-

7.00

14.00

Note: Revision of dividend forecast during the period: None

3. Consolidated Outlook for Fiscal Year 2011 (January 1, 2011 – December 31, 2011)
Net sales
Millions of yen(Percentages represent changes from the same period of the previous fiscal year)
Net income
Net income
Operating income
Ordinary income
per share% Millions of yen% Millions of yen

Full Year 2011
138,500 1.2
3,000 (12.3)
Note: Revision of consolidated outlook during the period: None

3,400

% Millions of yen

7.3

2,600

%

Yen

27.6

60.03

4. Other (Please refer to “2. Other Information” on page 4 of the attachments for further information)(1) Changes in significant subsidiaries during the period: None
Newly added: -Excluded: -Note: Changes in specified subsidiaries affecting the scope of consolidation during the period(2) Application of simplified accounting methods and special accounting methods: Yes
Note: Application of simplified accounting methods and special accounting methods for presenting quarterly consolidated
financial statements(3) Changes in accounting principles, procedures, presentation methods, etc.
1) Changes caused by revision of accounting standards: Yes
2) Other changes: None
Note: Changes in accounting principles, procedures, presentation methods, etc. for presenting quarterly consolidated
financial statements described in “Changes in the Significant Accounting Policies for the Preparation of Quarterly
Consolidated Financial Statements”(4) Number of shares outstanding (common shares)
1) Number of shares outstanding at end of period (including treasury stock)
2Q 2011:47,630,393 sharesFiscal Year 2010:

47,630,393 sharesFiscal Year 2010:

4,320,645 shares

2Q 2010:43,310,474 shares

2) Number of shares of treasury stock at end of period
2Q 2011:

4,320,905 shares

3) Average number of shares outstanding during the period
2Q 2011:43,309,572 shares* Disclosure regarding the implementation of quarterly review proceduresThis summary of quarterly financial results materials is not subject to quarterly review procedures based on the Financial
Instruments and Exchange Act. Thus, at the time of its disclosure, the quarterly financial statement review procedures based on
the Financial Instruments and Exchange Act have not been completed.

* Cautionary statement with respect to forward-looking statements
The above projections are based on information available at the time of release of this report. Actual results could differ
significantly from these projections due to a variety of factors. For further details regarding the projections, please refer topage 3, “(3) Qualitative Information Regarding Consolidated Outlook.”Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011

Contents of Attachments

1. Qualitative Information on Quarterly Consolidated Financial Performance2(1) Qualitative Information Regarding Consolidated Results of Operations

2(2) Qualitative Information Regarding Consolidated Financial Position

3(3) Qualitative Information Regarding Consolidated Outlook

3

2. Other Information

4(1) Overview of Changes in Significant Subsidiaries

4(2) Overview of Application of Simplified Accounting Methods and Special Accounting Methods

4(3) Overview of Changes in Accounting Principles, Procedures, Presentation Methods, etc.

4

3. Quarterly Consolidated Financial Statements

5(1) Quarterly Consolidated Balance Sheets

5(2) Quarterly Consolidated Statements of Income7(3) Quarterly Consolidated Statements of Cash Flows

8(4) Going Concern Assumption

10(5) Segment Information

10(6) Significant Changes in Shareholders’ Equity

11

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Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Qualitative Information Regarding Consolidated Results of Operations
In the cumulative second quarter (January 1, 2011 to June 30, 2011) of the current fiscal year, the Japanese economy
remained on a gradual recovery path. However, the Great East Japan Earthquake, which struck on March 11, 2011,
caused economic activity to stagnate, particularly in eastern Japan, and together with the likelihood of power
shortages for some time in the wake of the nuclear accident at the Fukushima Dai-Ichi Power Plant, the future
course of the domestic economy and personal consumption became uncertain.
In the retail industry, consumer sentiment cooled after the earthquake struck as consumers refrained from shopping,but later picked up to some extent. Still, conditions in the overall retail industry remained harsh.
In this environment, the Senshukai Group pulled together to achieve the first fiscal year targets of its medium-term
management plan which concludes in Fiscal Year 2013.
Net sales in the cumulative second quarter declined 0.1% year-over-year to 69,542 million yen.
As for profits, operating income rose 16.6% year-over-year to 2,398 million yen. Net sales went down slightly andthe cost-of-sales ratio increased due to surging raw materials costs and an increase in valuation losses, but selling
expenses declined as a higher ratio of Internet-based orders lowered variable expenses and also catalog expenses,
and general and administrative (SG&A) expenses declined.
Ordinary income rose 30.9% year-over-year to 2,631 million yen due to foreign exchange gains, and net income
increased 49.3% to 2,166 million yen due to the application of accounting standards for asset retirement obligations.
Overview by segment(Mail-order Business)
Consolidated sales in the mail-order business, comprising the catalog and the hanpukai businesses, totaled 62,805
million yen in the cumulative second quarter. Sales temporarily declined in the wake of the earthquake, but thenrecovered.
In terms of profits, operating income was 2,177 million yen due to reductions in catalog costs and SG&A expenses.
1) Catalog business
Consolidated sales in the catalog business were 57,859 million yen in the cumulative second quarter.
2) Hanpukai business
Consolidated sales in the hanpukai business were 4,946 million yen in the cumulative second quarter.
(Bridal business)
Consolidated sales in the bridal business, centered on the subsidiary Dears Brain Inc. which operates the housewedding business, totaled 3,607 million yen in the cumulative second quarter due in part to the impact of theearthquake, but operating losses amounted to less than one million yen.
(Corporates business)
Consolidated sales in the corporates business, which provides products and services to corporations, totaled 2,305
million yen in the cumulative second quarter, and operating income totaled 270 million yen.
(Other businesses)
Consolidated sales in other businesses, which consist of the services business (primarily travel and credit card
services) and the pet business (pet good sales through retail stores), totaled 824 million yen in the cumulative
second quarter, and operating loss totaled 52 million yen.

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Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011(2) Qualitative Information Regarding Consolidated Financial Position(Balance sheet position)
Assets totaled 86,868 million yen at the end of the second quarter of the current fiscal year, down 3,218 million yen
from the end of the previous fiscal year.
Current assets decreased 2,720 million yen to 39,935 million yen. The main factors were an increase of 501 million
yen in merchandise and finished goods, and decreases of 2,458 million yen in cash and deposits, and 1,123 million
yen in accounts receivable-other. Noncurrent assets decreased 498 million yen to 46,932 million yen, mainly due toan increase of 521 million yen in intangible assets, and decreases of 419 million yen in property, plant andequipment and 601 million yen in investments and other assets.
Current liabilities decreased 5,173 million yen to 36,144 million yen. The main factors were decreases of 1,523
million yen in notes and accounts payable-trade, 1,165 million yen in forward exchange contracts, and 1,891 million
yen in other. Noncurrent liabilities decreased 415 million yen to 8,941 million yen. Asset retirement obligations of
298 million yen were booked due to the application of accounting standards for asset retirement obligations, but
long-term loans payable declined 388 million yen and bonds payable declined 386 million yen.
Net assets increased 2,370 million yen to 41,781 million yen. The main factors were an increase of 1,819 million
yen in retained earnings and a 736 million yen decrease in deferred losses on hedges. Consequently, the equity ratio
was 48.1%.
(Cash flow position)
The balance of cash and cash equivalents at the end of the second quarter of the current fiscal year was 8,397
million yen, a decrease of 2,458 million yen from the end of the previous fiscal year.
Operating activities provided net cash of 572 million yen. The main contributing factors were income before income
taxes and minority interests of 2,249 million yen, depreciation and amortization of 1,145 million yen, and 1,058
million yen decreases in other current assets. Negative factors were decreases of 1,523 million yen in notes andaccounts payable-trade, and 1,079 million yen in other current liabilities.
Investing activities used net cash of 1,054 million yen. The main cash inflow was a 617 million yen proceeds fromsales of investment securities. The main cash outflows were 1,122 million yen for the purchase of intangible assets
and 339 million yen for the purchase of property, plant and equipment.
Financing activities used net cash of 1,981 million yen. The main cash inflow was a 300 million yen proceeds fromlong-term loans payable, while cash outflows include a repayment of long-term loans payable of 1,523 million yen,redemption of bonds of 383 million yen, and cash dividends paid of 345 million yen.
(3) Qualitative Information Regarding Consolidated Outlook
The earthquake is expected to continue impacting the economy for the time being as summer power shortages slow
production activity and uncertainty lingers over the nuclear power accident. Also, some signs of a pickup in personal
consumption have become evident, but it is uncertain the extent to which consumer sentiment will recover.
The Senshukai Group has revised the consolidated outlook for the current fiscal year (January 1, 2011 to December
31, 2011) that it released on February 3, 2011. Please see “Notice of Revisions to Consolidated Outlook” disclosed
on July 22, 2011 for details.

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2. Other Information(1) Overview of Changes in Significant Subsidiaries
Not applicable.
(2) Overview of Application of Simplified Accounting Methods and Special Accounting Methods(Simplified accounting methods)
1) Method for estimating the uncollectible amount of general reserve
The uncollectible amount of general reserve was estimated using the historical default rates at the end of theprevious fiscal year as the ratio at the end of the second quarter of the current fiscal year was found not to besignificantly different from the ratio at the end of the previous fiscal year.
2) Calculation of depreciation expense for noncurrent assets
For assets subject to the declining-balance method, depreciation expense for the period is calculated pro rata fromthe full-year amount of depreciation expense for the fiscal year.
3) Judgments about the recoverability of deferred tax assets
Judgments about the recoverability of deferred tax assets are made based on the earnings forecast at the end of theprevious fiscal year and tax planning with regard to items where there have been no significant changes in theoperating environment or in the occurrence of temporary differences following the end of the previous fiscal year.
(Special accounting methods in the preparation of quarterly financial statements)
The tax expenses are calculated by first estimating the effective tax rate after the application of tax effect accounting
with respect to income before income taxes and minority interests during the fiscal year in which the quarter underreview falls, and multiplying that rate by the income before income taxes and minority interests for the quarter
under review. However, the Company uses legally stipulated effective tax rates to calculate tax expenses for cases inwhich using estimated tax rates gives a noticeably irrational result. Income taxes-deferred were included anddisplayed with income taxes.
(3) Overview of Changes in Accounting Principles, Procedures, Presentation Methods, etc.
1) Application of “Accounting Standard for Equity Method of Accounting for Investments” and “Practical Solution
on Unification of Accounting Policies Applied to Associates Accounting for Using the Equity Method”
Beginning with the first quarter of the current fiscal year, “Accounting Standard for Equity Method of Accounting
for Investments” (Accounting Standards Board of Japan (ASBJ) Statement No. 16, issued on March 10, 2008) and“Practical Solution on Unification of Accounting Policies Applied to Associates Accounting for Using the Equity
Method” (ASBJ Practical Issue Task Force (PITF) No. 24, March 10, 2008) have been applied.
This change has no effect on the amount of income (loss).
2) Application of Accounting standard for asset retirement obligations
Beginning with the first quarter of the current fiscal year, “Accounting Standard for Asset Retirement
Obligations” (ASBJ Statement No. 18, March 31, 2008) and “Guidance on Accounting Standard for Asset
Retirement Obligations” (ASBJ Guidance No. 21, March 31, 2008) have been applied.
As an effect of this change, operating income and ordinary income decreased by less than one million yen each,and income before income taxes and minority interests decreased by 111 million yen. In addition, these changes
increased the account balance of asset retirement obligations by 332 million yen due to this change.

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Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011

3. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Million yen)
2Q 2011(As of Jun. 30, 2011)

Fiscal Year 2010 Summary(As of Dec. 31, 2010)

AssetsCurrent assets
Cash and deposits

8,397

10,855

Notes and accounts receivable-trade

6,753

6,362

Short-term investment securities

2

8

Merchandise and finished goods

13,101

12,600Raw materials and supplies

122

123

Accounts receivable-other

7,824

8,948

Other

3,973

3,998

Allowance for doubtful accounts

(239)

(241)

Total current assets

39,93542,656

Buildings and structures, net

14,00014,402

Land

10,944

10,945

Other, net

1,853

1,870

Total property, plant and equipment

26,79827,218Goodwill

2,504

2,580

Other

3,891

3,294

Total intangible assets

6,396

5,874

Investment securities

7,151

7,761

Other

6,952

6,764

Noncurrent assets
Property, plant and equipment

Intangible assets

Investments and other assets

Allowance for doubtful accounts

(366)

(187)

Total investments and other assets

13,736

14,33846,93247,43086,86890,086

Total noncurrent assets
Total assets-5-Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011

(Million yen)
Fiscal Year 2010 Summary(As of Dec. 31, 2010)

2Q 2011(As of Jun. 30, 2011)
Liabilities
Current liabilities
Notes and accounts payable-trade

6,408

7,932

Short-term loans payable

2,202

3,036

Current portion of bonds

769

766

Accounts payable-factoring

14,096

13,548

Income taxes payable

124

468

Provision for sales promotion expenses

690

656

2,419

3,585

Forward exchange contracts
Other

9,434

11,325

Total current liabilities

36,14441,318

Bonds payable

2,900

3,286

Long-term loans payable

4,708

5,097

Provision for retirement benefits

30

27

Asset retirement obligations

298-

Noncurrent liabilities

Other

1,003

945

Total noncurrent liabilities

8,941

9,356

45,08650,675

Capital stock

20,35920,359

Capital surplus

21,03821,038

Total liabilities
Net assets
Shareholders’ equity

Retained earnings

13,164

11,344

Treasury stock(2,775)(2,775)

Total shareholders’ equity

51,78649,966

Valuation difference on available-for-sale securities(1,117)(928)

Deferred gains or losses on hedges(1,606)(2,342)

Revaluation reserve for land

(7,117)(7,117)

Foreign currency translation adjustment

(163)

(167)

Total valuation and translation adjustments(10,004)(10,555)

41,781

39,41186,86890,086

Valuation and translation adjustments

Total net assets
Total liabilities and net assets-6-Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011(2) Quarterly Consolidated Statements of Income(For the Six-month Period)(Million yen)
2Q 2011(Jan. 1, 2011 – Jun. 30, 2011)

2Q 2010(Jan. 1, 2010 – Jun. 30, 2010)
Net sales

69,62969,542

Cost of sales

35,15235,739Gross profit

34,47633,803

Selling, general and administrative expenses

32,41931,404

Operating income

2,057

2,398

Interest income

41

24

Dividends income

84

84

Foreign exchange gains

26

240

Non-operating income

Co-sponsor fee

82

28

Other

160

154

Total non-operating income

395

532

Interest expenses

147

118

Loss on valuation of compound financial instruments

204

8

-

97

Non-operating expenses

Relief aid expenses
Other

91

75

Total non-operating expenses

442

300

2,010

2,631

13

1

Gain on sales of investment securities-

139

Reversal of allowance for doubtful accounts

28

-

Other

0

-

Total extraordinary income

41

140

Ordinary income
Extraordinary income
Gain on sales of noncurrent assets

Extraordinary loss
Loss on sales and retirement of noncurrent assets

740

Loss on valuation of investment securities

253-

Impairment loss

43-

Provision of allowance for doubtful accounts

23

181

Loss on valuation of golf club memberships
Loss on adjustment for changes of accounting
standard for asset retirement obligations
Loss on disaster

5

0

-

111

-

49

Special retirement expenses

-

122

Other
Total extraordinary losses
Income before income taxes and minority interests
Income taxes

2

16

337

522

1,714

2,249

251

83

Income before minority interests

-

2,166

Minority interests in income

12

-

1,451

2,166

Net income-7-Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011(3) Quarterly Consolidated Statements of Cash Flows(Million yen)
2Q 2010
2Q 2011(Jan. 1, 2010 – Jun. 30, 2010) (Jan. 1, 2011 – Jun. 30, 2011)
Net cash provided by (used in) operating activities
Income before income taxes and minority interests

1,714

2,249

Depreciation and amortization

1,186

1,145

Impairment loss

43-

Increase (decrease) in allowance for doubtful accounts

(40)

176

Increase (decrease) in allowance for sales promotion expenses

47

33

Interest and dividends income

(125)

(108)

Interest expenses

147

118

Foreign exchange losses (gains)

(50)

(430)

Equity in (earnings) losses of affiliates

(12)

(35)

Loss (gain) on valuation of compound financial instruments

204

8

Loss (gain) on sales and retirement of noncurrent assets

(5)

39

Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities

2

(138)

253

-

5

0

Loss on valuation of golf club membership
Loss on adjustment for changes of accounting standard for
asset retirement obligations
Decrease (increase) in notes and accounts receivable-trade

-

111

1,006

(390)

Decrease (increase) in inventories

1,650

(501)

Decrease (increase) in other current assets

1,796

1,058

Increase (decrease) in notes and accounts payable-trade(808)(1,523)

4

74

Increase (decrease) in accrued consumption taxes
Increase (decrease) in other current liabilities(1,366)(1,079)Other, net

117

79

Subtotal

5,771

885

Interest and dividends income received

126

108

Interest expenses paid

(150)

(122)

Income taxes (paid) refund

(73)

(298)

Net cash provided by (used in) operating activities

5,673

572

Purchase of property, plant and equipment

(627)

(339)

Proceeds from sales of property, plant and equipment

169

1

Purchase of intangible assets(629)(1,122)

Purchase of investment securities

(20)

(20)

Net cash provided by (used in) investing activities

Proceeds from sales of investment securities

4

617

Proceeds from redemption of investment securities

400-

Purchase of investments in subsidiaries(0)-

Proceeds from sales of investments in subsidiaries

49-

Other, net

98

(191)

(555)

(1,054)

Net cash provided by (used in) investing activities-8-

Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011

(Million yen)
2Q 2011
2Q 2010(Jan. 1, 2010 – Jun. 30, 2010) (Jan. 1, 2011 – Jun. 30, 2011)
Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable(3,000)-

Proceeds from long-term loans payable

300

300

Repayment of long-term loans payable(1,481)(1,523)

(383)

(383)

(0)

(0)

Redemption of bonds
Purchase of treasury stock
Proceeds from sales of treasury stock
Cash dividends paid
Other, net

-

0

(1)

(345)

-

(28)

(4,566)(1,981)(29)

4

Net increase (decrease) in cash and cash equivalents

522(2,458)Cash and cash equivalents at beginning of period

8,795

10,855

Cash and cash equivalents at end of period

9,317

8,397

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents-9-Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011(4) Going Concern Assumption
Not applicable.
(5) Segment Information
Business segments
2Q 2010 (Jan. 1, 2010 – Jun. 30, 2010)(Million yen)

Mail-orderbusiness

Other businesses

Elimination or
corporate

Total

Consolidated

Net sales(1) Sales to customers

61,052

8,576

69,629-69,629(2) Inter-segment sales

952

334

1,287

(

1,287)-

Total

62,004

8,911

70,916(

1,287)

69,629

1,975

16

1,991

65

2,057

Operating income

Notes: 1. The classification of business segments is based on categories adopted for internal management purposes.
2. Principal activities of each business segment(1) Mail-order business: Catalog and hanpukai businesses(2) Other businesses:

Product sales, and services(Note) The transportation business, formerly a major component of “other businesses,” is no longer a major component
because Senshu Transportation Co., Ltd., a subsidiary, was removed from consolidated accounts during thesecond quarter under review.

Geographic segment information
2Q 2010 (Jan. 1, 2010 – Jun. 30, 2010)
Geographic segment information has not been presented because the Company and its consolidated subsidiaries have generated
over 90% of their total net sales in Japan.

Overseas sales
2Q 2010 (Jan. 1, 2010 – Jun. 30, 2010)
Overseas sales have not been presented because they represented less than 10% of total consolidated sales.

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Senshukai Co., Ltd. (8165) Financial Report for the Second Quarter of Fiscal Year 2011

Segment Information
1. Overview of reportable segment
Segments used for financial reporting are the Company’s constituent units for which separate financial information
is available and for which the Board of Directors performs periodic studies for the purposes of determining theallocation of resources and evaluating performance.
The Senshukai Group primarily operates the mail-order business, bridal business, and corporates business, and theCompany and its group companies manage each of these businesses according to these classifications.
Therefore the Group, comprised of these different business segments, has three reportable segments: the mail-orderbusiness, bridal business, and corporates business.
The mail-order business is engaged in mail-order sales via a variety of media centered on catalogs and the Internet.
The bridal business provides mostly house wedding services. The corporates business uses the Company’s
infrastructure to provide solutions services and promotional services targeting mail-order companies ande-commerce businesses.
2. Information related to sales and profit or loss for each reportable segment
2Q 2011 (Jan. 1, 2011 – Jun. 30, 2011)(Million yen)

Reportable segment
Mail-orderbusiness

Bridalbusiness

Corporates
business

Sub-total

Others(Note 1)

Total

62,805

3,607

2,305

68,718824

69,542

Amounts shown onquarterly
Adjustment
consolidated(Note 2)statements of income(Note 3)

Net sales
Sales to customers-

69,542

Inter-segment sales

525

-

151

676

44

720

(

720)

-

Total

63,330

3,607

2,457

69,395868

70,263(

720)

69,542

Segment profit
2,177
(0)
270
2,447
(52)
2,395
3
2,398
(loss)
Notes: 1. Others represent the businesses which are not included in any of the three reportable segments and consist of theservices business primarily offering travel and credit card services, and the pet business distributing pet goods throughretail stores.
2. The 3 million yen adjustment to segment profit comprises elimination for inter-segment transactions.
3. Segment profit is adjusted to be consistent with operating income shown on the quarterly consolidated statements ofincome.

3. Information related to impairment of noncurrent assets, goodwill, etc. for each reportable segment
No major events or changes occurred in the consolidated second quarter.
Supplemental Information
Beginning with the first quarter of the current fiscal year, “Accounting Standard for Disclosures about Segments ofan Enterprise and Related Information” (ASBJ Statement No. 17, March 27, 2009) and “Guidance on the
Accounting Standard for Disclosures about Segments of an Enterprise and Related Information” (ASBJ Guidance
No. 20, March 21, 2008) have been applied.
(6) Significant Changes in Shareholders’ Equity
Not applicable.
* This financial report is solely a translation of summary of “kessan Tanshin” (in Japanese, including attachments), which has
been prepared in accordance with accounting principles and practices generally accepted in Japan, for the convenience ofreaders who prefer an English translation.
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