Financial Highlights
1. CONSOLIDATED FINANCIAL RESULTS OF EPS GROUP FOR THE FIRST QUARTER
ENDED DECEMBER 31, 2014(2014.10.1-2014.12.31)(UNAUDITED)(1) CONSOLIDATED OPERATING RESULTS( UNIT:JPY MILLION )Operating Income

Net sales
Dec-14
Dec-13

Dec-14
Dec-13

10,511 (9,027 (16.4% )5.5% )Net Income per Share
(yen)
10.35
2.90

Net Income

Ordinary Income

849 (83.4% )463 ( ᇞ 48.2% )919 ( 110.9% )435 ( ᇞ 49.0% )366 ( 256.0% )103 ( ᇞ 67.3% )Net Income perShare,diluted (yen)－－Note : 1 Comprehensive income
Dec-14
1,067 Million yen( 84.0% )Dec-13580
Million yen( ᇞ 26.8% )2 Percentages for net sales, operating income, ordinary income, net income and comprehensive income indicate
growth ratio to previous year.
3 As each share of common stock has been split into 100 shares as of 1st April 2014, above net income per share shows
the amount based on as if share split were considered to be effective on 1st October 2013 retroactively.

(2) CONSOLIDATED FINANCIAL INFORMATION
Total Assets
Dec-14
Sep-14Note :( UNIT:JPY MILLION )Shareholders'Equity ratio (%)
58.7%
54.5%

Net assets

33,411
34,68921,894
21,230Total shareholders' Equity, valuation and translation adjustments as of :Dec-14
19,622 Million yen
Sep-14
18,917

Million yen(3) CONSOLIDATED SUBSIDIARIES
Consolidated subsidiaries :Affiliated companies by equity accounting method :36
4companies
companies

2.OVERALL SITUATION OF DIVIDEND DISTRIBUTION( UNIT:JPY )Interim Dividend

Cash Dividends per share
Year end Dividend

Annual

Sep-14(Result)800.00

10.00－Sep-15(Projection)

8.00

10.0018.00

Note :As each share of common stock has been split into 100 shares as of 1st April 2014, above year end dividend of FY2014
shows the amount after this split, in spite that interim dividend remains before split.
For reference purpose only, if such share split becomes effective as at 1st October 2013 retroactively, dividend
distribution for FY2014 may become as follows,
Sep-14 (Result)
Annual: 18.00 (Interim Dividend: 8.00, Year end Dividend: 10.00)

3. INFORMATION OF CONSOLIDATED BUDGET 2015.09 (2014.10.1-2015.9.30)
Mar-15
Sep-15Net sales
21,396 (7.8% )44,120 (5.6% )Budgeted net income per share :Operating Income
1,728 ( ᇞ 10.1% )4,625 (3.0% )Mar-15
Sep-15

Ordinary Income
1,554 ( ᇞ 21.4% )4,327 (2.0% )( UNIT:JPY MILLION )Net Income
651 ( ᇞ 27.4% )1,937 (6.0% )17.12 yen
50.93 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.

4. OTHER INFORMATION(1) Total number of shares issued and outstanding as of :Dec-14

36,160,000

sharesSep-14 36,160,000

shares699,900

sharesDec-13 35,527,800

shares(2) Common stock for treasury as of :Dec-14

681,300

sharesSep-14(3) Average number of shares outstanding during the period as of :Dec-1435,469,833

sharesCONSOLIDATED BALANCE SHEETS
December 31, 2014 and September 30, 2014
(UNAUDITED)(IN MILLIONS,JPY)ASSETS
CURRENT ASSETS
Cash and time deposits
Notes and accounts receivable
Investment securities
Inventories
Works in progress
OthersAllowance for doubtful accounts
Total current assets

December 31.2014

September 30.2014

9,133
8,493
1,206
1,186
925
2,138
ᇞ 27
23,055

10,680
8,613
1,067
813
695
2,702
ᇞ 25
24,547

FIXED ASSETS
Tangible Assets
Intangible Assets
Investments and other assets ;Investment securities
Deposits
OthersAllowance for doubtful accounts
Total investments and other assets

2,937
2,216

2,771
2,205

1,999
1,479
2,025
ᇞ 303
5,201

1,938
1,504
2,025
ᇞ 303
5,165

Total fixed assets

10,355

10,14233,411

34,689LIABILITIESCURRENT 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

1,054
715
444
223
374
11
4,469
7,290

1,040
715
444
1,757
1,130
41
4,009
9,137

LONG-TERM LIABILITIESLong-term debt
Provision for director's retirement benefits
Net defined benefit liability
Asset retirement obligations
OthersTotal long-term liabilities

2,635
218
776
380
215
4,226

2,746241761
352
218
4,320

11,517

13,458

1,875
1,826
14,679
ᇞ 632
17,747

1,875
1,826
14,670ᇞ 653
17,718

ᇞ 239

ᇞ 262

2,108
5

1,461
1

1,874

1,199

Minority interests
TOTAL NET ASSETS

2,271
21,894

2,312
21,230TOTAL LIABILITIES AND NET ASSETS

33,411

34,689TOTAL ASSETSTOTAL LIABILITIESNET ASSETS
Shareholders' equity
Common stock
Additional paid-in capital
Retained earnings
Common stock for treasury
Total shareholders' equity
Accumulated other comprehensive income (or △loss)
Unrealized gain (or △loss) onavailable-for-sale securities
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Total accumulated other comprehensiveincome (or △loss)

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
For the First quarter ended December 31 2014 and 2013
(UNAUDITED)(IN MILLIONS,JPY)
First quarter ended
December 31.2014

First quarter endedDecember 31.2013

NET SALESCOST OF SALES
Gross profit

10,511
7,690
2,821

9,027
6,642
2,384

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
Operating income

1,972849

1,921463

OTHER INCOME (△EXPENSES)Interest income
Interest expenses
Penalty income
Foreign exchange gain or loss (△loss)
Gain or loss of equity in associated companies (△ loss)
Impairment loss on investment securities
Others- net
Other income (△expenses)-net
Income before income taxes and minority interests

22
ᇞ770
ᇞ 38
ᇞ 46
ᇞ370
66
915

9
ᇞ8

INCOME TAXES
Current
DeferredTotal
Income before minority interests
MINORITY INTERESTSNET INCOME

227
314
541
374
7366

24317
342
109
6103

Income before minority interests

374

109

23
△0585
4

ᇞ 58

79

23693
1,067

4705801,0412554732－

ᇞ 33
ᇞ 30－51
ᇞ 10452

OTHER COMPREHENSIVE INCOME
Unrealized gain (or △loss) on available-for-sale securities
Deferred gain (or △loss) on hedges
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Share of other comprehensive income of associates inequity method
Total
COMPREHENSIVE INCOME－505－

Comprehensive income attributable to :Parent shareholders
Minority interests

STATEMENT OF ORDER ENTRY AND SALES BY ITEMSFor the First quarter ended December 31 2014
(UNAUDITED)(1) RESULT OF ORDER ENTRY
2014.12<2014.10.1-2014.12.31>
DIVISIONAMOUNT OF ORDER ENTRY(IN MILLIONS, JPY )Domestic CRO
Monitoring
Data Management
CRO others
TOTAL OF CRO
Domestic SMO
Domestic CSO
Global Research Business
China Business
Others
TOTAL

year-to-yearcomparison(%)

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

123.0%
128.2%
11.6%
99.5%
85.2%
120.5%
250.8%
124.2%
101.3%
115.4%

17,551
14,457
1,470
33,478
8,211
4,518
5,787
100
124
52,222116.6%
113.8%
56.1%
110.2%
106.5%
117.5%
133.0%
66.9%
100.3%112.1%

2,874
2,052
133
5,059
1,621
1,426
2,408
1,058
306
11,881* These figures are expressed by sales price.
* These above figures do not include the consumption tax.

(2) RESULT OF SALES
2014.12<2014.10.1-2014.12.31>

DIVISIONAMOUNT OF SALES(IN MILLIONS, JPY )Domestic CRO
Monitoring
Data Management
CRO others
TOTAL OF CRO
Domestic SMO
Domestic CSO
Global Research Business
China Business
Others
TOTAL

year-to-year comparison (%)

113.2%
123.7%
112.3%
116.4%
102.6%
116.0%
148.8%
132.4%
103.7%
116.4%

3,159
1,8644935,517
1,451
1,671
547
1,008
315
10,511* These above figures do not include the consumption tax.

INDUSTRY SEGMENT INFORMATION
For the First quarter ended December 31 2014 and 2013
(UNAUDITED)FY 2015 (2014.10.1-2014.12.31)(IN MILLIONS, JPY)

DomesticCRO

Domestic
SMO

Domestic
CSO

GlobalResearchBusiness

5,517
239
5,756
917

1,451
7
1,458
28

1,671
8
1,680
120

547
16564(103)SALES
Sales to customers
Intersegment sales
Total
Operating income

ChinaBusiness
1,008
51,013(84)Others315
209525(38)Total

Eliminations/Consolidation
Corporate－(487)(487)
810,511487
10,998840

10,511－
10,511849* Operating income of 8 million yen under "Eliminations/ Corporate" consists of elimination of inter-segment and other transactions.
* These above figures under "Others" consist of the figures of "BPO" and "Other business".

FY 2014 (2013.10.1-2013.12.31)

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

DomesticCRO

Domestic
SMO

Domestic
CSO

GlobalResearchBusiness

4,738
167
4,906
484

1,414
86
1,501
148

1,439
19
1,459
59

368
16384(122)

ChinaBusiness

Others

761
20782
(118)

303
195
499
6

Total

Eliminations/ Consolidation
Corporate

9,027
506
9,533
456

* Operating income of 6 million yen under "Eliminations/ Corporate" consists of elimination of inter-segment and other transactions.
* These above figures under "Others" consist of the figures of "BPO" and "Other business".

－(506)(506)
69,027－9,027
463