Financial Highlights
1. CONSOLIDATED FINANCIAL RESULTS OF EPS GROUP FOR THE SECOND QUARTER
ENDED MARCH 31, 2010(2009.10.1-2010.03.31)(UNAUDITED)(1) CONSOLIDATED OPERATING RESULTS( UNIT:JPY MILLION )Net sales
Mar-10Mar-0914,516 (11,687 (24.2% )－ )Mar-10Mar-09Net Income per Share(yen)
14,463.85
6,275.55

Operating Income

Ordinary Income

2,443 (
1,966 (2,456 (
1,980 (24.3% )－ )Net Income

24.0% )
－ )1,293 ( 130.5% )561 (－ )Net Income perShare,diluted (yen)14,452.46
6,270.32

Percentages for net sales, operating income, ordinary income, and net income indicate growth ratio
to previous year.

Note :(2) CONSOLIDATED FINANCIAL INFORMATION
Total Assets
Mar-10
Sep-09

Shareholders'Equity ratio (%)
61.9%
63.2%

Net assets

19,30017,306

13,72912,107( UNIT:JPY MILLION )Shareholders' Equity
per share (yen)133,690.73
122,278.26

Total shareholders' Equity, valuation and translation adjustments as of :Mar-10 11,951 Million yen
Sep-0910,931 Million yen

Note :(3) CONSOLIDATED CASH FLOW INFORMATION( UNIT:JPY MILLION )Net cash provided by(used in) operating
activities
926911Mar-10Mar-09(4) CONSOLIDATED SUBSIDIARIESNet cash provided by(used in) investing
activities
△ 752
△ 162

Net cash provided by(used in) financing
activities
△ 398
△ 406

Consolidated subsidiaries :Affiliated companies by equity accounting method :18
3Ending balance of cash
and cash equivalents
6,614
5,942

companies
companies

2.OVERALL SITUATION OF DIVIDEND DISTRIBUTION( UNIT:JPY )Sep-09(Result)(Result)(Projection)

Sep-10Note :

Interim Dividend
2,800.003,200.00―

Cash Dividends per share
Year end Dividend
3,200.00―
1,700.00

Annual6,000.00
4,900.00

As each share of common stock has been split into 2 shares as of 1st April 2010, above projected year end
dividend shows the amount after this split, in spite that interim dividend remains before split. For your guidance,
the total amount of projected year end dividend per share remains unchanged from previous our projection which
was announced in November 2009, before split.

3. INFORMATION OF CONSOLIDATED BUDGET 2010.09 (2009.10.1-2010.9.30)
Net salesSep-10

29,438 (Operating Income
24.9% )

Budgeted net income per share :4,222 (Sep-10

Ordinary Income

5.3% )

4,245 (4.8% )( UNIT:JPY MILLION )Net Income
2,070 (20.8% )11,581.19 yen

Notes :1 Above figures may differ from actual results as uncertain various factors may affect future earnings.
2 Percentages for net sales, operating income, ordinary income, and net income indicate growth ratio
to previous year.
3 As each share of common stock has been split into 2 shares as of 1st April 2010, above budgeted net income pershare shows the amount based on as If share split were considered to be effective on 1st October 2009 retroactively.

4. OTHER INFORMATION(1) Total number of shares issued and outstanding as of :Mar-1090,400sharesSep-0990,400shares

Sep-091,000shares

89,400shares(2) Common stock for treasury as of :Mar-101,000shares(3) Average number of shares outstanding during the period as of :Mar-10Note :

89,400shares

Mar-09As each share of common stock has been split into 2 shares as of 1st April 2010, current number of shares issued
and outstanding and common stock for treasury become 180,800 and 2,000 shares respectively.

CONSOLIDATED BALANCE SHEETSMarch 31 2010 and September 30, 2009
(UNAUDITED)(IN THOUSANDS,JPY)ASSETS
CURRENT ASSETS
Cash and time deposits
Notes and accounts receivable
Inventories and products
Works in progress
OthersAllowance for doubtful accounts
Total current assets

March 31.2010

September 30.2009

6,819,488
6,120,494
287,226
310,349
1,260,436△ 2,870
14,795,124

6,607,331
5,211,905
231,824
253,598
1,140,119△ 2,108
13,442,670

FIXED ASSETS
Tangible Assets
Intangible Assets
Investments and other assets ;Investment securities
Deposits
OthersTotal investments and other assets

548,902
967,961

445,165
364,189

714,956
1,105,801
1,167,976
2,988,734

881,700
1,012,144
1,160,990
3,054,836

Total fixed assets

4,505,597

3,864,190

19,300,722

17,306,861

301,188
200,000
100,000
1,068,161
1,050,252
47,6002,152,540
4,919,742

204,226
150,000
200,000
944,772
1,145,169
75,6501,899,275
4,619,093

346,168
258,329
47,380651,879

307,137
247,397
25,378579,912

5,571,621

5,199,006

1,875,251
1,825,431
8,664,850△ 321,437
12,044,096

1,875,251
1,825,431
7,657,862△ 321,437
11,037,108△ 60,034△ 39,782

TOTAL ASSETSLIABILITIESCURRENT LIABILITIES
Accounts payable
Short-term debt
Current portion of long-term debt
Income taxes payable
Provision for bonuses
Provision for loss on order received
OthersTotal current liabilities
LONG-TERM LIABILITIESProvision for employees' retirement benefits
Provision for directors' retirement benefits
OthersTotal long-term liabilities
TOTAL LIABILITIESNET ASSETS
Shareholders' equity
Common stock
Additional paid-in capital
Retained earnings
Common stock for treasury
Total shareholders' equity
Valuation and translation adjustments
Unrealized gain (or △loss) on
available-for-sale securities
Deferred gain (or △loss) on hedges
Foreign currency translation adjustments
Total valuation and translation adjustments―△ 32,110△ 92,145△2△ 65,647△ 105,431

Share option in consolidated subsidiary
Minority interests
TOTAL NET ASSETS

6,528
1,770,621
13,729,100―
1,176,178
12,107,854

TOTAL LIABILITIES AND NET ASSETS

19,300,722

17,306,861

CONSOLIDATED STATEMENTS OF INCOME
For the Second quarter ended March 31 2010 and 2009
(UNAUDITED)(IN THOUSANDS,JPY)
Second quarter ended
March 31.2010

Second quarter ended
March 31.2009

NET SALESCOST OF SALES
Gross profit

14,516,843
9,735,533
4,781,310

11,687,577
7,966,361
3,721,215

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
Operating income

2,337,616
2,443,694

1,754,850
1,966,364

OTHER INCOME (EXPENSES)Interest income
Interest expenses
Foreign exchange gain or loss (△loss)
Gain on cancellation of insurance
Gain on sale of investments in securities
Gain on change in equity by merger of consolidated subsidiary
Refund of insurance surrender
Loss on sales and disposal of property and equipment
Loss on devaluation of investment in securities
Impairment loss on goodwill
Others- net
Other income (expenses)-net
Income before income taxes and minority interests

11,250△ 5,279△ 29,608
14,682―
34,961
25,320△ 6,566△ 45,174△ 10,000
33,40922,9962,466,690

15,841△ 5,519△ 7,063―
8,320――△ 8,078△ 107,548△ 125,666△ 3,027△ 232,741
1,733,623

INCOME TAXES
Current
Deferred
Total
MINORITY INTERESTSNET INCOME

1,027,226
81,554
1,108,781
64,8401,293,068

698,104
427,127
1,125,232
47,356
561,034

CONSOLIDATED STATEMENTS OF CASH FLOWSFor the Second quarter ended March 31 2010 and 2009
(UNAUDITED)(IN THOUSANDS,JPY)
Second quarter ended
March 31.2010
OPERATING ACTIVITIES:
Income before income taxes and minority interests
Adjustments to reconcile income before income taxes and minority
interests to net cash provided by operating activities:
Depreciation and amortization
Impairment loss on goodwill
Increase (△Decrease) in provision for bonuses
Increase (△Decrease) in allowance for retirement benefits for employees
Increase (△Decrease) in allowance for retirement benefits for directors
Interest and dividends income
Interest expense
Gain (or △loss) on sale of investments in securities (-net)
Loss on devaluation of investment in securities
Gain (or △loss) on sales and disposal of property and equipment (-net)
Changes in operating assets and liabilities:
Decrease (△Increase) in accounts receivable-trade
Decrease (△Increase) in inventories and products
Increase (△Decrease) in accounts payable -trade
Increase (△Decrease) in other current liabilities
Others , Net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
INVESTING ACTIVITIES:Payments for time deposits
Proceeds from maturity of time deposits
Disbursements for purchase of tangible fixed assets
Disbursements for purchase of intangible fixed assets
Payment for purchase of investments securities
Proceeds from sales and maturity of investments securities
Payment for deposit for rent office and others
Purchase of investments in subsidiaries resulting in change in scope ofconsolidation
Payment for acquisition of business
Others , Net
Net cash provided by (used in) investing activities
FINANCING ACTIVITIES:
Proceeds from borrowing of short-term debt
Disbursements for repayment of short-term debt
Disbursements for repayment of long-term debt
Dividends paid
Dividends paid for minority stock holders
Others , Net
Net cash provided by (used in) financing activities
EFFECT OF EXCHANGE DIFFERENCE ON CASH & CASH EQUIVALENTS
NET INCREASE IN CASH AND CASH EQUIVALENTS
BEGINNING OF BALANCE,CASH AND CASH EQUIVALENTS
INCREASE IN CASH AND CASH EQUIVALENTS BY MERGER OF CONSOLIDATED SUBSIDIARYENDING OF BALANCE,CASH AND CASH EQUIVALENTS

Second quarter ended
March 31.2009

2,466,690

1,733,623

195,145
10,000△ 95,283△ 1,079△ 8,173△ 12,600
5,279－45,174
6,566

136,690
125,666△ 257,621
6,536
14,224△ 17,191
5,519△ 8,320
107,548
7,347△ 653,330△ 109,299
60,99577,088△ 175,566
1,811,607
14,179△ 5,279△ 894,388
926,118

44,320△ 11,970
29,777△ 30,125
55,484
1,941,509
21,542△ 5,519△ 1,045,628
911,904△ 203,858
150,497△ 91,640△ 91,009－－△ 79,385－－△ 87,018△ 15,290△ 113,519
411,770△ 114,841△ 71,000
35,843△ 752,594△ 213,753△ 30,138△ 162,792

170,000△ 150,000△ 100,000△ 285,968△ 18,078△ 14,350△ 398,396
26,090△ 198,781
6,607,331
205,600
6,614,150－－△ 105,700△ 268,851△ 31,661△ 776△ 406,989△ 38,718
303,4035,638,984－5,942,388△ 402,041－

STATEMENT OF ORDER ENTRY AND SALES BY ITEMSFor the Second quarter ended March 31 2010
(UNAUDITED)(1) RESULT OF ORDER ENTRY
2010.03<2009.10.1-2010.3.31>

DIVISIONAMOUNT OF ORDER ENTRY(IN THOUSANDS, JPY )CRO
Monitoring
Data Management

year-to-yearcomparison (%)

4,094,762
3,942,797
2,867,411
10,904,971
2,585,699
435,626
700,652
14,626,949

CRO others

TOTAL OF CRO
SMO
Preclinical Service
System Development
TOTAL

ORDER BACKLOG(IN THOUSANDS, JPY )year-to-yearcomparison (%)

10,725,323
14,272,381
3,420,900
28,418,605
4,647,761
117,996
179,625
33,363,989

118.0
104.7
254.4
130.4
135.3
84.0
86.0
126.0

88.8
110.7
514.9
110.9
124.5
115.0
96.3
112.5

* These figures are expressed by sales price.
* These above figures do not include the consumption tax.

(2) RESULT OF SALES
2010.03<2009.10.1-2010.3.31>

DIVISIONAMOUNT OF SALES(IN THOUSANDS, JPY )CRO
Monitoring
Data Management

year-to-year comparison (%)

4,295,060
4,391,227
2,603,727
11,290,014
2,040,977
405,355
780,495
14,516,843

CRO others

TOTAL OF CRO
SMO
Preclinical Service
System Development
TOTAL

111.0
124.4
227.4
132.1
125.0
76.4
79.6
124.2

* These above figures do not include the consumption tax.

INDUSTRY SEGMENT INFORMATION
For the Second quarter ended March 31 2010 and 2009
(UNAUDITED)2010 (2009.10.1-2010.3.31)

SALES
Sales to customers
Intersegment sales
Total
Operating income(IN THOUSANDS, JPY)

CRO

SMO

11,290,014
9,621
11,299,636
2,127,371

2,040,977
2,265
2,043,242
401,704

PreclinicalService405,355
2,070
407,425(11,378)

SystemDevelopment
780,495
62,265
842,760(79,623)

Total
14,516,843
76,222
14,593,066
2,438,074

2009 (2008.10.1-2009.3.31)

SALES
Sales to customers
Intersegment sales
Total
Operating income

Eliminations/
Corporate

Consolidation－(76,222)(76,222)
5,619

14,516,843－
14,516,843
2,443,694(IN THOUSANDS, JPY)

CRO

SMO

8,543,631
10,2908,553,922
1,709,323

1,633,133－
1,633,133
207,910PreclinicalServiceSystem
Development

Total

530,806
2,070
532,876
37,195980,005
33,8301,013,835
5,936

11,687,577
46,19011,733,767
1,960,366

Eliminations/Corporate

Consolidation－(46,190)(46,190)
5,998

11,687,577－
11,687,577
1,966,364