UNOFFICIAL TRANSLATION
The formal official document is in Japanese
Summary of Consolidated Financial Results for the First Half ofFiscal Year ending September 30, 2016 (Japanese Accounting Standards)
April 28, 2016
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, Director
Phone: +81-3-5333-6323
Scheduled date to submit the Quarterly Securities Report (Shihanki Houkokusho): May 12, 2016
Scheduled date of dividend payment: June 13, 2016
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 six months ended March 31, 2016
(October 1, 2015 – March 31, 2016)(1) Consolidated operating results (cumulative total)
Net sales

Operating income

Millions of yen

First half of fiscal year ending
September 30, 2016
First half of fiscal year ended
September 30, 2015
(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%

16,994

2.3

2,489

18.1

2,434

19.7

1,425

30.9

16,620

8.8

2,108

61.6

2,034

55.3

1,088

37.7

Six months ended March 31, 2016: 1,354 millions of yen (8.9%)
Six months ended March 31, 2015: 1,243 millions of yen (51.9%)
Net income
Net income
per shareper share/diluted

First half of fiscal year ending
September 30, 2016
First half of fiscal year ended
September 30, 2015

YenYen25.26

24.9721.46

21.19

The Company conducted a 2-for-1 common stock split that became effective on April 1, 2015. Net income per share and net income per share diluted are
based on the number of shares after the stock split.

(2) Consolidated financial position
Total assets

Net assets

Millions of yen

As of March 31, 2016
As of September 30, 2015
(Reference) Shareholders’ equity:

Equity ratio

Millions of yen%

23,045
15,62324,738
16,591
As of March 31, 2016: 15,113 millions of yen
As of September 30, 2015: 16,034 millions of yen

65.6
64.8

2. Dividends
End of firstquarter
Yen

End of secondquarter

Dividend per share
End of thirdquarter

Year end

Annual

Yen

Yen

Yen

Yen

Fiscal year ended–
12.00
September 30, 2015
Fiscal year ending–
8.00
September 30, 2016
Fiscal year ending
September 30, 2016 (forecast)(Note) Revisions to dividend forecasts published most recently: No–

8.00

20.00

–

8.00

16.00

The Company conducted a 2-for-1 common stock split that became effective on April 1, 2015. The dividend per share at the end of the second period of thefiscal year ended September 30, 2015 is calculated based on the number of shares before the stock split, but the year-end dividend per share is calculated
based on the number of shares after the stock split.

3. Forecast for consolidated business results for the fiscal year ending September 30, 2016
(October 1, 2015 – September 30, 2016)
Net sales
Millions of yen

Operating income% Millions of yen(Percentages represent year-on-year changes.)
Profit attributable toNet income
Ordinary income
owners of parent
per share% Millions of yen% Millions of yen

Full year
35,000
4.6
4,700
10.7
4,660
12.4(Note) Revisions to forecasts for consolidated business results published most recently: No2,700%

Yen

3.649.68* Note:(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: Not
applicable(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):3/16: 60,426,800 shares
9/15: 60,226,800 shares(ii) Number of treasury shares at the end of period
3/16: 6,075,228 shares
9/15: 3,260,928 shares(iii) Average number of shares during the period (quarterly consolidated cumulative period)
Six months ended 3/16: 56,424,007 shares
Six months ended 3/15: 50,729,001 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 iscalculated on 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 of
consolidated 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 page3-4 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 half chiefly for securities analysts and institutional investors on Monday,
May 2, 2016. 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.