Financial Results for the First Quarter Ended January 31, 2012
[Japan GAAP] (Consolidated)
Date:

March 7, 2012

Company Name and Code:

Tomoe Engineering Co., Ltd. and Subsidiaries - 6309
(Website: http://www.tomo-e.co.jp/index_e.html)

Stock Exchange Listing:

1st Section, Tokyo Stock Exchange

Head Office:2-2, Osaki 1-chome, Shinagawa-ku, Tokyo, Japan

President:

Noboru Shiono

Investor Relations Contacts:

Natsuhiko Maeda, Director, Accounting and Management Planning Tel: (03) 5435-6512

Date to report Consolidated Quarterly Financial Statement: March 14, 2012
Date for Dividend Payment:

Not applicable to financial quarters.

Preparation of Supplementary Explanatory Materials for Quarterly Operating Results: Not prepared for financial quarters.
Briefing Session for Quarterly Operating Results: Not planned.
* Any fractional sums less than one million (or one thousand) yen are disregarded.
1. Consolidated Financial Data for the First Quarter Ended January 31, 2012
(1) Results of Operation (Consolidated)

Quarter Ended January 31, 2012
Quarter Ended January 31, 2011

(Percent: Change from the same quarter of the previous year)
Net Sales
Operating Income
Ordinary Income
Millions ofMillions ofMillions of
Yen
Percent
Yen
Percent
Yen
Percent
9,554(13.1)
340(54.7)
383(53.2)
10,993
38.2
751
343.2
819
370.6
Net Income

Quarter Ended January 31, 2012
Quarter Ended January 31, 2011

Millions of
Yen
343
477

Percent(28.0)
134.8

Net Income per Share

Fully Diluted Quarterly
Net Income per Share

Yen
34.45
47.87

Yen
-

(Note) Comprehensive income
First Quarter ended January 31, 2012: 382 million yen (-25.5%) First Quarter ended January 31, 2011: 513 million yen (-%)
(2) Financial Condition (Consolidated)

Quarter Ended January 31, 2012
Year Ended October 31, 2011

Total Assets (A)(Millions of Yen)
32,11732,702

Net Assets (B)(Millions of Yen)
21,34521,329Net Assets Ratio(B) / (A) (Percent)
65.6
64.5

(Reference) Net assets
First Quarter ended January 31, 2012: 21,078 million yen

Year Ended October 31, 2011: 21,090 million yen

2. Dividend Status(Record Date)
Year Ended October 31, 2011
Year Ending October 31, 2012
Year Ending October 31, 2012 (Prospect)First
Quarter-InterimTerm
0.00

Annual Dividend (Yen)Third
End ofQuarter
Fiscal Year
40.00

0.00

(Note) Revisions since the most recently released dividend projection: None

-

40.00

Annual40.00
40.00

3. Forecast for Earnings for the Year Ending October 31, 2012 (Consolidated)(Percent: 2nd Quarter YTD - change from the same quarter of the previous year;
Full Business Year - change from the previous Full Business Year)Net Sales
Operating Income
Ordinary Income(Millions of Yen) (Percent) (Millions of Yen) (Percent) (Millions of Yen) (Percent)
2nd Quarter YTD
23,200
5.1
1,580
(6.3)
1,590
(11.5)
Full Business Year
46,000
8.6
2,660
9.9
2,690
3.6
Net Income
Net Income per Share(Millions of Yen) (Percent)Yen
2nd Quarter YTD
960
(9.4)
96.20
Full Business Year
1,660
(43.1)
166.35(Note) Revisions since the most recently released dividend projection: None
4. Others(1) Significant changes in subsidiaries during this quarter (Changes in specific subsidiaries in conjunction with a change
in the scope of consolidation): None
Number of new subsidiaries: __(Company names):

Number of eliminated subsidiaries: __(Company names):(2) Adoption of simplified accounting method and the specific accounting method: None
(3) Changes of the principles, procedures, and representation of the accounting policies
1) Change due to revision of accounting standard: None
2) Other changes than the above 1): None
3) Change in accounting estimates: None
4) Retrospective restatements: None
(4) Number of outstanding shares (Ordinary shares)
1) Number of outstanding shares as of quarter-end and year-end (including treasury stocks)
At January 31, 2012: 10,533,200 shares

At October 31, 2011: 10,533,200 shares

2) Number of treasury stocks as of quarter-end and year-end
At January 31, 2012: 554,501 shares

At October 31, 2011: 554,501 shares

3) Number of average shares (accumulated quarterly total)
At January 31, 2012: 9,978,699 shares

At January 31, 2011: 9,978,782 shares*Disclosure concerning status of implementation of quarterly review procedure
This quarterly earnings report is exempt from the quarterly review procedure based on the Financial Instruments andExchange Act. At the time of disclosure of this quarterly earnings report, the Company has not completed a quarterly
review procedure based on the Financial Instruments and Exchange Act.
*Explanations for appropriate use of the earnings forecast and other special instructions
The forward-looking statements such as a forecast of our financial results described herein are based on theinformation currently available to us and certain assumptions that we believe are reasonable. Actual results could differ
materially due to various factors. Please refer to the Financial Results for the Quarter (Attachments) on Page 4, “1.
Qualitative Information on Quarterly Consolidated Operating Results (3) Qualitative Information on Consolidated
Earnings Forecast” for the operating results forecast and matters to note when using forward-looking statements.

Table of Contents (Attachments)
1. Qualitative Information on Quarterly Consolidated Operating Results...................................................................2(1) Qualitative Information on Consolidated Operating Results.......................................................................2(2) Qualitative Information on Consolidated Financial Position....................................................................... 3(3) Qualitative Information on Consolidated Earnings Forecast....................................................................... 4
2. Matters Concerning Summary Information (Other)................................................................................................. 4(1) Changes to material subsidiaries during the quarterly consolidated period under review......................... 4(2) Application of special accounting method in the preparation of quarterly consolidated financial
statements........................................................................................................................................................ 4(3) Changes in accounting principles, changes in accounting estimates and retrospective restatements... 4(4) Supplemental information............................................................................................................................. 4
3. Consolidated Financial Statement......................................................................................................................... 5(1) Consolidated Quarterly Balance Sheet. ..................................................................................................... 5(2) Consolidated Quarterly Statements of Income & Consolidated Quarterly Statements of Comprehensive
Income.............................................................................................................................................................. 7(3) Consolidated Quarterly Statements of Cash Flows. .................................................................................. 9(4) Note on Going Concern Assumption..........................................................................................................11(5) Segment Information, etc. .............................................................................................................................11(6) Notes for Significant Changes in Shareholder’s Equity............................................................................... 11
4. Overseas Net Sales (Supplemental Information)...................................................................................................121

1. Qualitative Information on Quarterly Consolidated Operating Results(1) Qualitative Information on Consolidated Operating Results[General operating results]
During the first quarter, Japan’s economy exhibited some recovery momentum in production levels against the
backdrop of a recovery in production in the automotive sector and related industries.

Nevertheless, thepersistent fiscal and banking problems afflicting Europe, together with further deterioration in the businessenvironment surrounding exports in particular, including the stubbornly strong yen originating in Europe’s
difficulties and the slowing growth of newly emerging country economies, ultimately cast a shadow over the future
economic outlook.
Given these circumstances, consolidated net sales for the Tomoe Engineering Group were negatively affected
and fell to 9,554 million yen, down 13.1% from the same period last year. The main factors were a decline insales of equipment and systems to meet domestic public sector demand, and lower sales of equipment andsystems for China, in the Machinery & Equipment Business. In terms of earnings during the period as well,consolidated operating income was 340 million yen, 54.7% down from the same period one year earlier, reflecting
both the large influence of these declines in sales in the Machinery & Equipment Business and a loss reported in
the Chemical Products Business for the resin plastic compounding business in Shenzhen, China. Ordinary
income reflected the first quarter operating results, as well as a reactionary drop from the gain on valuation ofderivatives in the prior year related to the Chemical Products Business, and was 383 million yen, 53.2% downfrom the same period last year. On the other hand, because the effective tax rates for the corporation tax andother taxes were reduced by the enactment of tax reforms in December 2011, the adjustment for corporate andother taxes was lowered by 122 million yen in conjunction with a revaluation of deferred tax assets and liabilities,
and this was a factor lifting consolidated net income for the first quarter by the same amount. As a result of all of
the above factors, net income for the first quarter was 343 million yen, down 28.0% from the same quarter of theprior year.
[Operating results by segment](Machinery & Equipment Business)
In the Machinery & Equipment Business, consolidated net sales for the period were 2,006 million yen, 43.9%
down from the same period last year. Although centrifuge equipment sales for oil well drilling in North America
continued to climb, sales of centrifuge equipment and peripheral equipment for domestic public sector demand
contracted, and sales of centrifuge equipment for vinyl chloride plants in China, as well as abrasive grain slurry
recycling equipment for use in manufacturing photovoltaic cells, also weakened. Among such factors pushing
net sales lower, the impact of the slump in equipment and systems sales to meet domestic public sector demand
was significant, with the bulk of the drop being a reactionary decline from the sale in the same period one year
ago of equipment and systems for a large-scale sewage treatment facility reconstruction project. Earnings in thisbusiness were supported by a decrease in the weighting of certain overseas projects with slim profit margins,which helped improve the gross profit margin, and constraints on selling, general and administrative expenses
including personnel expenses, but given the overwhelming influence of the decline in overall sales, consolidated
operating income for the period fell from 370 million yen in the same period of the prior year to a state where sales
and expenditures were roughly in balance (+0 million yen).

2

(Chemical Products Business)
In the Chemical Products Business, sales of consumables for use in semiconductor manufacturing and of
related equipment plunged in electronics materials sector. Because domestic sales in other sectors maintained
a steady pace, however, particularly for chemical products and performance materials, and activity in the highperformance resins and molding machine sales business in Hong Kong also was brisk, consolidated net sales
were 7,548 million yen, 1.7% up from the previous year. Products that exhibited relatively strong growth included
heat insulators in the fine chemicals sector and rare earths, which Tomoe began handling in the performancematerials sector. Because the compounding business in Shenzhen, China was unable to avoid reporting a loss
from the effects of a loss of some commercial distribution and the flooding in Thailand, operating income for theentire business was 339 million yen, 10.6% down from the same period one year ago.
(2) Qualitative Information on Consolidated Financial Position:[Assets, Liabilities, and Net Assets]
Total assets at the end of the first quarter consolidated period under review were 32,117 million yen, 585
million yen or 1.8% down from the balance at end of the previous consolidated fiscal year on October 31, 2011.
Although inventories were higher, particularly work in process in the Machinery & Equipment Business, cash anddeposits fell sharply because of payment of taxes, provision for bonuses and dividend payments.
On the other hand, total liabilities were 10,771 million yen, 600 million yen or 5.3% down compared with theend of the previous consolidated fiscal year. Notes and accounts payable-trade increased 259 million yen, mainly
for the Machinery & Equipment Business, while the provision for bonuses and income taxes payable were lower.
Despite a decrease in retained earnings that resulted from payment of dividends that exceeded quarterly net
income, net assets rose 15 million yen (0.1%) compared with the end of the previous consolidated fiscal year to
21,345 million yen, reflecting a smaller deficit in accumulated other comprehensive income including translation
adjustments and a slight increase in minority interests.
Because of the slight increase in net assets and decrease in total assets as discussed above, the equity ratioat the end of the consolidated first quarter under review increased by 1.1 points compared with the end of theprevious consolidated fiscal year to 65.6%.
[Cash Flow Status]
Cash and cash equivalents as of the end of the consolidated first quarter under review decreased by 4,418 million
yen to 2,878 million yen from the end of the previous consolidated fiscal year. The status of each consolidated cash
flow and their factors during the first quarter are as follows:(Net Cash Provided by (Used in) Operating Activities)
Inventories increased by 748 million yen, the provision for bonuses decreased by 693 million yen and income
taxes paid totaled 545 million yen. As a result of these and other changes, net cash used in operating activities
was 923 million yen.
(Net Cash Provided by (Used in) Investing Activities)
Net cash used in investing activities was 3,221 million yen. This mainly reflected purchases of time deposits of
3,100 million yen, and purchases of property, plant and equipment and intangible fixed assets of 118 million yen.
(Net Cash Provided by (Used in) Financing Activities)
Net cash used in financing activities was 287 million yen despite a net increase in short-term loans payable, as
399 million yen was used for cash dividends paid.

3(3) Qualitative Information on Consolidated Earnings Forecast:
There are no changes to the six-month period and full business year projected consolidated operating results
included in the Forecast for the Year Ending October 31, 2012 that we released on December 12, 2011.
2. Matters Concerning Summary Information (Other)(1) Changes to material subsidiaries during the quarterly consolidated period under review: None
(2) Application of special accounting method in the preparation of quarterly consolidated financial statements: None.
(3) Changes in accounting principles, changes in accounting estimates and retrospective restatements: None
(4) Supplemental information(Application of the Accounting Standard for Accounting Changes and Error Corrections)
Beginning with accounting changes and corrections of past reporting errors that are made after the beginning of thefirst quarter of the current consolidated fiscal year, the Company has adopted the Accounting Standard for Accounting
Changes and Error Corrections (Accounting Standards Board of Japan Statement No. 24) and the Guidance on
Accounting Standard for Accounting Changes and Error Corrections (Accounting Standards Board of Japan Guidance
No. 24).

4

3. Consolidated Financial Statement(1) Consolidated Quarterly Balance Sheets (First Quarter)(Thousands of Yen)

End of Previous YearEnd of First Quarter(October. 31, 2011)(January 31, 2012)

AssetsCurrent Assets

Cash and Deposits

7,296,554

5,978,402

Notes and Accounts Receivable-Trade12,478,424

12,586,885

Merchandise and Finished Goods

3,506,696

3,575,864

Work in Process

1,029,443

1,399,747

Raw Materials and Supplies

630,324

973,970

Deferred Tax Assets

634,782

469,365

Others236,706

226,830(21,322)
25,791,609(20,084)
25,190,981

2,328,168

2,330,305

Accumulated Depreciation(1,344,589)(1,362,822)

Buildings and Structures, Net

983,579

967,483

Machinery, Equipment and Vehicles

3,395,764

3,471,779(2,662,256)(2,713,535)

733,508758,244Land

922,024

922,024

Lease Assets

71,702

62,234

Accumulated Depreciation(52,851)(47,497)

Lease Assets, Net

18,85014,736

Construction in progress

2,545,240

2,524,251

990,168

1,000,154(924,338)(935,275)

65,83064,8795,269,032

5,251,619

65,585

114,089

Investment Securities

665,846669,365

Guarantee Deposits

364,657

361,298

Deferred Tax Assets

33,14328,076

Others591,086

563,673

Allowance for Doubtful Accounts(78,405)(61,916)

Total Investments and Other Assets

1,576,328

1,560,497

Total Noncurrent Assets

6,910,947

6,926,207

Total Assets

32,702,557

32,117,188

Allowance for Doubtful Accounts
Total Current Assets
Noncurrent Assets
Property, Plant and Equipment
Buildings and Structures

Accumulated Depreciation
Machinery, Equipment and Vehicles, Net

Others
Accumulated Depreciation
Others, Net
Total Property, Plant and Equipment
Intangible Assets
Investments and Other Assets5

(Thousands of Yen)
End of Previous YearEnd of First Quarter(October. 31, 2011)(January 31, 2012)

Liabilities and Net Assets
Liabilities
Current Liabilities

Notes and Accounts Payable-Trade

6,485,604

6,745,293

Short-Term Loans Payable

534,045

621,086

Lease Obligations

14,556

12,465

Accounts Payable-Others

577,728

651,926

Income Taxes Payable

555,402

29,189Advances Received

461,243755,548

Provision for Bonuses

1,084,618

391,625

Provision for Directors' Bonuses

61,776

18,275

Allowance for Product Warranty

281,546

342,382

Others

270,113305,195

10,326,636

9,872,988

7,992

5,409

Provision for Retirement Benefits

36,74537,992

Provision for Directors' Retirement Benefits

31,76029,600

Deferred Tax Liabilities

969,595

825,906

Total Noncurrent Liabilities

1,046,093

898,908

Total Liabilities

11,372,730

10,771,897

Capital Stock

1,061,210

1,061,210

Capital Surplus

1,483,410

1,483,410

Retained Earnings

19,179,264

19,123,855

Treasury Stock(363,319)(363,319)

21,360,564

21,305,155

Valuation and Translation Adjustments
Valuation Difference on Available-for-Sale
Securities
Deferred Gains or Losses on Hedges

51,62656,221230(589)

Foreign Currency Translation Adjustment(321,821)(282,623)

Total Valuation and Translation Adjustments(269,965)(226,991)

239,227

267,126

Total Net Assets

21,329,827

21,345,291

Total Liabilities and Net Assets

32,702,557

32,117,188

Total Current Liabilities
Noncurrent Liabilities
Lease Obligations

Net Assets
Shareholders’ Equity

Total Shareholders’ Equity

Minority Interests6(2) Consolidated Quarterly Statements of Income & Consolidated Quarterly Statements of Comprehensive
IncomeConsolidated Quarterly Statements of Income (First Quarter)(Thousands of Yen)First Quarter Ended

First Quarter Ended

January 31, 2011

January 31, 2012

Net Sales

10,993,244

9,554,431

Cost of Sales

8,693,507

7,677,543

2,299,736

1,876,888

1,548,621

1,536,835

751,114340,052

Interest income

2,256

3,803

Dividends Income

6,356

5,752

Rent Income

3,168

2,963

Foreign Exchange Gains

12,97323,861Gain on Valuation of Derivatives

42,084-

Others

8,913

14,24675,75450,627

1,833

2,108

16

17

5,236

4,680

Total Non-Operating Expenses

7,086

6,806

Ordinary Income

819,782

383,873

8,836

736

-

6,780

20,882
29,719

7,516

Loss on Retirement of Noncurrent Assets

-

4,614

Loss on Valuation of Investments Securities-

582

32,685-32,685

5,197

Income before Income Taxes and Minority Interests

816,816

386,193

Income Taxes-Current

17,42817,287

Income Taxes-Deferred

315,580

33,097333,008

50,384

483,807335,808

Minority interests in income or loss (-)

6,075(7,930)Net Income (Loss)

477,732

343,738

Gross Profit
Selling, General and Administrative Expenses
Operating Income
Non-Operating Income

Total Non-Operating Income
Non-Operating Expenses
Interest Expenses
Loss on Sales of Notes Payable
OthersExtraordinary Income
Gain on Sales of Investment Securities
Gain on Change in Equity Interest
Reversal of Allowance for Doubtful Accounts
Total Extraordinary Income
Extraordinary Losses

Affect from application of the Accounting Standard for
Asset Retirement Obligations
Total Extraordinary Losses

Total Income Taxes
Income before minority interests

7

Consolidated Quarterly Statements of Comprehensive Income (First Quarter)(Thousands of yen)First Quarter Ended

First Quarter Ended

January 31, 2011

January 31, 2012

483,807335,808

Valuation difference on available-for-sale securities

44,6994,595

Deferred Gains or Losses on Hedges

2,954

(819)

Foreign Currency Translation Adjustment(18,265)

42,913

Total other comprehensive income

29,38946,689513,197

382,498

507,911

386,712

5,286(4,214)

Income before minority interests
Other comprehensive income

Comprehensive income(Breakdown)Comprehensive income attributable to owners of theparentComprehensive income attributable to minority
interests8

(3) Consolidated Quarterly Statements of Cash Flows(Thousands of Yen)

Net Cash Provided by (Used in) Operating Activities
Income before Income Taxes and Minority Interests

First Quarter Ended

First Quarter Ended

January 31, 2011

January 31, 2012

816,816

386,193

97,78586,804

Increase (Decrease) in Provision for Bonuses(747,922)(693,444)

Increase (Decrease) in Provision for Directors' Bonuses(71,375)(43,501)

Increase (Decrease) in Allowance for Product Warranty

222,853

60,835

Increase (Decrease) in Provision for Retirement Benefits

2,394

1,189

Increase (Decrease) in Provision for Directors' Retirement Benefits(111,000)(2,160)

Increase (Decrease) in Allowance for Doubtful Accounts(21,893)(17,727)-

582

Interest and Dividends Income(8,613)(9,555)Interest Expenses

1,833

2,108

Foreign Exchange Losses (Gains)(4,524)

1,912

Loss (Gain) on Sales of Investment Securities(8,836)(736)-(6,780)Depreciation and Amortization

Loss (Gain) on Valuation of Investment Securities

Loss (Gain) on Change in Equity Interest

-

4,614

Affect from application of the Accounting Standard for Asset

Loss (Gain) on Retirement of Noncurrent Assets

32,685-

Loss (Gain) on Valuation of Derivatives(42,084)-

Decrease (Increase) in Notes and Accounts Receivable-Trade

787,661(59,102)

Decrease (Increase) in Inventories(459,100)(748,027)

Increase (Decrease) in Notes and Accounts Payable-Trade

172,426

205,501

Increase (Decrease) in Accounts Payable-Others(70,933)

76,895

Increase (Decrease) in Advances Received(20,239)292,755

Increase (Decrease) in Accrued Consumption Taxes

39,250(43,168)

Others, Net

55,900119,922

663,082(384,886)

Sub totalInterests and Dividends Income Received

6,718

9,053

Interest Expenses Paid

(1,844)(2,119)(930,674)(545,449)(262,717)(923,402)(2,520,110)(55,422)(3,100,000)

Purchase of Intangible Assets(2,320)(26,495)

Proceeds from Sales of Investment Securities

14,071(3,431)

1,527

Income Taxes Paid (-) or Returned
Net Cash Provided by (Used in) Operating Activities
Net Cash Provided by (Used in) Investing Activities
Deposit of Time Deposits
Purchase of Property, Plant and Equipment

Purchase of Investment Securities
Collection of Loans Receivable(92,444)(5,903)

Payments of Loans Receivable

1,783
(90)

(1,360)

Guarantee Deposits (Increase)(4,876)

1,878

52

678

(2,570,344)(3,221,336)

Others, Net
Net Cash Provided by (Used in) Investment Activities
9783

(Thousands of Yen)First Quarter Ended

First Quarter Ended

January 31, 2011

January 31, 2012

Net Cash Provided by (Used in) Financing Activities
Funds Provided by Payment from Minority Shareholders-

38,893Net Increase (Decrease) in Short-Term Loans Payable-

77,420(6,695)(4,673)(349,257)(399,147)(355,952)(287,507)(15,305)

14,094(3,204,319)(4,418,152)

6,109,100
2,904,780

7,296,554
2,878,402

Repayments of Lease Obligations
Cash Dividends Paid
Net Cash Provided by (Used in) Financing Activities
Effect of Exchange Rate Change on Cash and Cash Equivalents
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Period
Cash and Cash Equivalents at End of Period10(4) Note on Going Concern Assumption
None.
(5) Segment Information, etc.
【Segment Information 】
First Quarter Ended January 31, 2011
1 Information Pertaining to the Amount of Net sales or Net Loss of Each Reporting Segment(Thousands of Yen)
Reported Segment
Machinery & Equipment

Chemical Products

Business

Business

Total

Grand Total

Net Sales
Net Sales to UnaffiliatedCustomers

3,574,299

7,418,944

10,993,244

10,993,244

-

-

-

-

3,574,299

7,418,944

10,993,244

10,993,244

Internal Net Sales among
Segments or AmountTransferred
Total

Segment Profit
370,937
380,176
751,114751,114(Note) The total amount of segment profit is identical to the operating income reported on the Quarter Statements ofConsolidated Income.

First Quarter Ended January 31, 2012
1 Information Pertaining to the Amount of Net sales or Net Loss of Each Reporting Segment(Thousands of Yen)
Reported Segment
Machinery & Equipment

Chemical Products

Business

Business

Total

Grand Total

Net Sales
Net Sales to UnaffiliatedCustomers

2,006,106

7,548,325

9,554,431

9,554,431

-

-

-

-

2,006,106

7,548,325

9,554,431

9,554,431

Internal Net Sales among
Segments or AmountTransferred
Total

Segment Profit
320
339,732
340,052
340,052(Note) The total amount of segment profit is identical to the operating income reported on the Quarter Statements ofConsolidated Income.

(6) Notes for Significant Changes in Shareholder’s Equity
None

11

4. Overseas Net Sales (Supplemental Information)
First Quarter Ended January 31, 2011

(Thousands of Yen)
Asia

I. Overseas Net Sales

Total

2,040,446

222,025

2,262,472--

10,993,244

18.6

2.0

20.6

II. Consolidated Net Sales
III. Ratio of Overseas Net Sales to Consolidated Net Sales (%)

Other Regions(Notes)1. Areas including countries or regions are determined based on their degree of geographical proximity.
2. Main countries or regions included in the areas:(1) Asia: China, Korea, Taiwan and Indonesia(2) Other regions: America and Europe
3. Overseas net sales are sales of our company and subsidiaries made in countries and regions other than Japan.
First Quarter Ended January 31, 2012

(Thousands of Yen)
Asia

I. Overseas Net Sales
II. Consolidated Net Sales
III. Ratio of Overseas Net Sales to Consolidated Net Sales (%)

Other Regions

Total

1,432,362

523,555

1,955,918--

9,554,431

15.0

5.5

20.5

(Notes)1. Areas including countries or regions are determined based on their degree of geographical proximity.
2. Main countries or regions included in the areas:(1) Asia: China, Korea, Taiwan and Indonesia(2) Other regions: America and Europe
3. Overseas net sales are sales of our company and subsidiaries made in countries and regions other than Japan.

12