UNOFFICIAL TRANSLATION
The formal official document is in Japanese
Summary of Consolidated Financial Results for the First Quarter ofFiscal Year ending September 30, 2017 (Japanese Accounting Standards)
January 30, 2017
Listed Company Name: MTI Ltd.
Listing Exchanges: Tokyo Stock Exchange
Securities Code:9438
URL: http://www.mti.co.jp
Representative:
Toshihiro Maeta, President and Chief Executive Officer
Contact:
Hiroshi Matsumoto, Managing Director
Phone: +81-3-5333-6323
Scheduled date to submit the Quarterly Securities Report (Shihanki Houkokusho): February 10, 2017
Scheduled date of dividend payment: –Supplementary documents for quarterly results: Yes
Quarterly results briefing: Yes (for securities analysts and institutional investors)(Figures less than one millions of yen are omitted)

1. Consolidated business results for the three months ended December 31, 2016
(October 1, 2016 – December 31, 2016)(1) Consolidated operating results (cumulative total)
Net sales

Operating income

Millions of yen

First quarter of fiscal year ending
September 30, 2017
First quarter of fiscal year ended
September 30, 2016
(Note) Comprehensive income:(Percentages represent year-on-year changes)
Profit attributable toOrdinary income
owners of parent% Millions of yen% Millions of yen% Millions of yen%

7,637(10.6)

1,149

2.4

1,125

0.7677(3.0)

8,547

4.1

1,121(15.9)

1,117(15.0)

697(8.3)

Three months ended December 31, 2016: 743 millions of yen 4.4%
Three months ended December 31, 2015: 711 millions of yen (19.1 %)Net income
Net income
per shareper share/diluted

First quarter of fiscal year ending
September 30, 2017
First quarter of fiscal year ended
September 30, 2016

YenYen12.30

12.21

12.25

12.10

(2) Consolidated financial position
Total assets

Net assets

Millions of yen

As of December 31, 2016
As of September 30, 2016
(Reference) Shareholders’ equity:

Equity ratio

Millions of yen%

23,043
17,19525,154
17,852As of December 31, 2016: 16,645 millions of yen
As of September 30, 2016: 17,306 millions of yen

72.2
68.8

2. Dividends
End of firstquarter
Fiscal year ended
September 30, 2016
Fiscal year ending
September 30, 2017
Fiscal year ending
September 30, 2017 (forecast)

Dividend per share
End of thirdquarterEnd of secondquarter

Year end

AnnualYen

Yen

Yen

Yen

Yen–

8.00

–

8.00

16.00

8.00

–

8.00

16.00

–(Note) Revision of dividend forecast for during this period : No

3. Forecast for consolidated business results for the fiscal year ending September 30, 2017
(October 1, 2016 – September 30, 2017)
Net sales
For the first half
Full year(Percentages represent year-on-year changes.)
Profit attributable toNet income
Ordinary income
owners of parent
per share

Operating income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

15,50032,500(8.8)
(2.6)

1,730
4,060

(30.5)(24.2)

1,700
4,000

(30.2)(24.7)

1,100
2,500

(22.8)(24.6)

20.25
46.02

(Note) Revisions to forecasts for consolidated business results published most recently: No* Notes(1) Important changes of subsidiaries during the term (changes in specified subsidiaries resulting in change in scopeof consolidation): Not applicable
New: –Exception: –(2) Application of specific accounting treatment to the preparation of quarterly consolidated financial statements: Notapplicable(3) Changes in accounting policies and changes or restatement of accounting estimates(i) Changes in accounting policies due to the modification in accounting methods:(ii) Changes in accounting policies other than (i):(iii) Changes in accounting estimates:(iv) Restatement:Yes
Not applicableNot applicableNot applicable(4) Number of outstanding shares (common shares)(i) Number of shares outstanding at the end of period (including treasury shares):12/2016: 60,655,600 shares
9/2016: 60,549,200 shares(ii) Number of treasury shares at the end of period
12/2016: 6,333,128 shares
9/2016: 4,925,228 shares(iii) Average number of shares during the period (quarterly consolidated cumulative period)
Three months ended 12/2016: 55,047,708 shares Three months ended 12/2015: 56,983,793 shares
The Company conducted a 2-for-1 common stock split that became effective on April 1, 2015. The average number of shares during the period is calculatedon the assumption that this share split was carried out at the beginning of the previous fiscal year after these stock splits.

* Status of a quarterly review
A quarterly review under the Financial Instruments and Exchange Act was being conducted at the publication of this summary ofconsolidated financial results.

* Cautionary statement with respect to forward-looking statements
The forward-looking statements included in this material are based on the Company’s judgments, assumptions, and convictions
based on information available to the Company at the time of publication of this document and may differ materially from actual
results for a range of factors, including conditions of Japanese and overseas economies, changes in the situation of operations inJapan and overseas, and uncertainties and potential risks inherent in forward-looking statements. The risks and uncertainties include
unforeseeable effects of future events. The information on consolidated earnings forecasts and other future forecasts on page 3 of
the Accompanying Materials describes notes on the assumptions of the earnings forecasts and the use of the earnings forecasts.
The Company will hold a briefing on earnings in the first three quarters chiefly for securities analysts and institutional investors on
Tuesday, January 31, 2017. A video of the briefing and a document to be used at the briefing will be posted on the Company’s
website as soon as the briefing ends. (A video is Japanese only.)