Consolidated Financial Results for the 3rd Quarter of the Fiscal
Year Ending March 2007
February 9, 2007
Faith, Inc.

(Stock code 4295, TSE 1st section)(URL: http://www.faith-inc.com/)

Representative; Hajime Hirasawa, CEO/President
Contacts; Koji Saeki, CFO
1.

Tel: +81-(0)75-213-3933

Basis for preparation of quarterly financial results(1)

Adoption of simplified accounting practices; Yes* In accordance with standards for preparation of interim consolidated financial
statements, simplified accounting procedures have been partially applied to where theamount influenced is minor.

(2)
(3)

Changes in accounting practices from the previous fiscal year.
; Yes
Changes in the scope of consolidation and the equity method of ; Yes (The six
accounting
new companies
are included.)2.

Financial results for the 3rd quarter of the year ending March 2007
(April 1, 2006 through December 31, 2006)(1)

Consolidated Results of operations
Unit: million yen (rounded down)
Net sales

Q3 of the year ending
March 2007
Q3 of the year ended March
2006(Ref): Year ended March2006

Operating profit

Recurring profit

Net profit

Million yen(%)

Million yen(%)

Million yen(%)

Million yen(%)

32,109(52.1)

1,027( 58.7)903( 65.3)

3,785

(–)

21,111(23.5)

2,487( 17.1)

2,603( 13.2)

1,028( 34.5)30,040

3,391

3,455

Earnings per share

Diluted Earnings per
share

Yen

Yen

1,438

Q3 of the year ending
3,180.24.
–
March 2007
Q3 of the year ended
863.22863.05
March 2006
(Ref): Year ended March
1,174.67
1,174.53
2006(Notes)(1)
Presentation of percentages in net sales, operating profit are year-on-year changes.
(2)
Although there are latent shares, the diluted earnings per share is not given since there was a net loss.

[Qualitative information on consolidated operating results]
During the third quarter, within the Japanese telecommunication industry, as the use ofbroadband spread and the mobile phone market shifted to the third-generation communication
systems, the ringtone melody distribution service market continued to contract on account of adecline in demand, although the digital content market continued to expand, driven by easyto-use music and video distribution services, highly-entertaining online games, andconvenient information services that make use of mobile handsets.
1

Leading these movements in the domestic market, the Group has addressed on “creating a
new scheme for the distribution of the digital content” through acquisitions and tie-ups withleading companies. In particular, the Group focused on strengthening its alliance with rights
holders and expanding its user reach.
Overseas, there has been firm demand for the Group’s sound source technology with theglobal deployment of the CDMA communication standard promoted by U.S.-based
Qualcomm Inc. At the same time, the Group has deployed, cooperating with the global musiclabels, content services centered on music throughout the world and has steadily expanded its
business.
As a result, for the third quarter of fiscal 2006 consolidated net sales grew to ¥32,109
million, a rise of 52.1% from the same period of the previous fiscal year, as a result ofcontinued high growth in the electronic money settlement business, acquisitions in theJapanese service business, and an expansion of business through tie-ups, despite the fall inincome from the Japanese ringtone distribution service. Consolidated operating profit fell to¥1,027 million, decline of 58.7% on the same period last year, for the reasons such as adecline in sales from the Japanese ringtone distribution service, upfront investments to create
new markets, and upfront expenses necessary to fully launch the MVNO business.
Consolidated recurring profit shrank to ¥903 million, a decline of 65.3% on the same period
last year. Furthermore, the Group the net loss was ¥3,785 million (compared to the net incomeof ¥1,028 million for the same period of the previous fiscal year), because of the various
factors including a decline in recurring profit and the recording of losses on impaired assets
such as the goodwill amortization for companies including Curupira S.A. (commonly referred
to as TakeNET,) the South American content distribution subsidiary.
Consolidated operating results for the third quarter of fiscal 2006 by business segment are
as follows:<Content distribution Business>[Service business]
Within Japan, the Group purchased Rightsscale, Inc., a company that provides solutions –from content procurement to royalty payments such as those for copy right fees – to music
distribution services targeting PCs and mobile phones. While making use of the close andextensive relationships built with producers and artists, centered on independent record labels,
and the Group’s more than 10 million users and expanding the music digital distribution
business, the Group established its own music label. In addition, Giga Networks Inc., which
was purchased in May 2006, has tied up with companies that have strong planning andproduction capabilities in the field of entertainment, such as Yoshimoto Kogyo Co., Ltd., andhas gradually launched new content distribution services.
Overseas, the Group actively deployed its content distribution services in the U.S., SouthAmerica, China, and Europe.
As a result, consolidated net sales for the service business rose to ¥12,186 million, a rise of
49.9% compared to the same period last year, as a result of firm growth overseas and thebusiness expansion including the acquisition of Giga Networks, Inc.

2

[License Business]
Along with the firm sales in Japan, there was firm demand for the Group’s sound source
technology, particularly in the U.S., China, India, and South America, as the CDMAcommunications standard promoted by U.S.-based Qualcomm Inc. spread throughout theworld.
As a result, sales for the license business shrank to ¥1,470 million, a year-on-year declineof 9.8%, as a result of temporary changes in the timing of shipments from the licensing
companies.
Therefore, sales in the content distribution business rose to ¥13,656 million, a 39.9%
increase compared to the same period last year, and operating profit shrank to ¥2,123 million,a year-on-year fall of 20.6%, on account of upfront investments to create new markets, tocover the increase in expenses for strengthening the Group’s business foundation with an
expansion of business.
<Electronic Settlement business>
According to the Information and Communications Statistics Database of the Ministry ofInternal Affairs and Communications, broadband subscriptions exceeded 25 million as of theend of September 2006. Demand for digital content, including online games (the corecomponent of demand for electronic payments), music distribution, and video distribution,
continued to increase. Under these circumstances, the amount of payments settled by theelectronic money (WebMoney) steadily increased since WebMoney enabled “safe” and“convenient” payments over the Internet. In addition, the Group actively cooperated withother companies on various fronts, and these efforts included the support for the issuance ofthe electronic money for the companies that provide various Internet-based services such as
Rakuten Inc., Label Gate Co., Ltd., and HMV Japan K.K.
Therefore, sales for the electronic settlement business grew to ¥16,122 million, a year-onyear increase of 42.5%, and operating profit rose to ¥343 million, a 291.5% increase
compared to the same period of the previous fiscal year.
<MVNO (Mobile Virtual Network Operation) business>
The U.S. subsidiary Faith Communications, Inc. expanded its mobile phone service Voce,to the San Francisco and Las Vegas areas in November 2006, after having launched trial
services in the Los Angeles area in May of the same year. The service provides flat-rate
pricing for domestic mobile phone service, sophisticated customer service, and concierge
services, including use of specialized lounges, to high income users,
Therefore, the MVNO business recorded ¥6 million in sales and an operating loss of¥1,279 million, compared to an operating loss of ¥297 million for the same period of theprevious fiscal year, as a result of upfront expenses to fully launch the business.

3(2) Financial conditions on a consolidated balance sheet
Million yen

Million yen%

Shareholders’ equity per
share
Yen

38,666

13,78734.3

11,156.16

24,27916,32067.2

13,709.47

31,595

19,62562.1

16,453.84

Total assets
Q3 of year ending March2007
Q3 of year ended March2006(Ref.): Year ended
March 2006

Shareholders’ equity
ratio

Shareholders’ equity[Quantitative information on changes in the consolidated balance sheet]
Total assets at the end of the 3rd quarter period increased 7,070 million yen comparedto the end of the previous fiscal year, to 38,666 million yen, mainly due to the acquisition of
the Giga Networks Company, and net assets decreased 5,838 million yen, to 13,787 million
yen. On the other hand, the capital ratio decreased 27.8 points compared to the end of theprevious fiscal year, to 34.3%, as a result of various factors including the fact that the
majority of funds for the acquisition of Giga Networks Company were obtained from loans.
[Reference]
Forecast of consolidated financial results for the year ending March 2007 (April 1, 2006
through March 31, 2007)
Net sales
Million yen
43,99530,040Ordinary income
Million yen
833
3,455

Full year(Ref.): Year ended
March 2006
(note) Projection for earnings per share (for the full fiscal year):

Net income
Million yen
1,601
1,438

1,345.65 yen[Quantitative information regarding forecast of financial results]
Business is firm, and sales are expected to slightly surpass previously announced targets.
The recurring profit is also expected to be greater than initially forecast on account of theincrease in sales and the benefits of effective use of expenses. Net loss is expected to begreater than initially forecast since the extraordinary losses from the spin-off of the MVNO
business through a management buy-out and the revaluation of Curupira S.A. (TakeNET) in
Brazil were not able to be covered by gains from the sale of the French subsidiary Digiplug
S.A.S.
(Reference 1)
Quarterly individual financial results
Net sales
Q3 of year ending March2007
Q3 of year ended March2006(Ref.): Year ended March2006

Operating profit

Recurring profit

Net profit

Million yen(%)

Million yen(%)

Million yen(%)

Million yen

(%)

6,045

( 11.9)1,631( 41.8)1,609( 45.7)

5,216

(-)

6,861

( 4.1)

2,801( 6.0)

2,964( 0.7)

1,735

(0.8)

10,293

Earnings per share

4,177

Diluted earnings per
share
Yen

Yen
Q3 of year ending March
4,382.25–
2007
Q3 of year ended March
1,456.99
1,456,71
2006(Ref.): Year ended March
2,199.49
2,199.25
2006(note) Diluted earnings per share is not given since there are no latent shares.

4

4,338

2,659

(Reference 2)
Quarterly financial condition on an individual balance sheet
Million yen

Million yen

Shareholders’ equity
ratio%

18,425

13,85775.2

11,641.06

19,084

17,865

93.6

15,007.89

24,81021,56086.9

18,079.04

Total assets
Q3 of year ending
March 2007
Q3 of year ended
March 2006
(Ref.): Year ended
March 2006

Shareholders’ equity

Shareholders’ equity
per share
Yen(Reference 3)
Forecast of individual financial results for the year ending March 2007 (April 1, 2006 throughMarch 31, 2007)
Net sales
Recurring profit
Million yen
Million yen
Full year
8,458
1,819
(note) Forecast of earnings per share (full year): 4,235.13yen

Net profit
Million yen
5,041

Supporting materials:
Quarterly consolidated balance sheets, Quarterly consolidated income statements, Quarterly
consolidated statements of surplus, Quarterly consolidated statement of changes inshareholders’ equity, and Segment information

5

Consolidated Financial Statements for the 3rd Quarter(1)

Consolidated Balance Sheet for the 3rd Quarter
Unit: thousand yen
Account name

(Assets)
I. Current assets
1. Cash and deposits
2. Accounts and notes
receivable
3. Marketable securities
4. Inventories
5. Deferred tax assets
6. Others
Allowance for doubtful
accounts
Total current assets
II. Fixed assets
1. Tangible fixed assets
2. Intangible fixed assets(1) Goodwill(2) Consolidated adjustment
account(3) Others
Total intangible fixed assets
3. Investments and otherassets(1) Investment securities(2) Deposits with landlords(3) Others
Allowancefordoubtfulreceivable
Total investments and otherassetsTotal fixed assets
III. Deferred assets
1.Stock issue expense
Total deferred assets
Total assets

3rd quarter of the previous fiscal
year(As of December 31, 2005)
Component
Amountpercentage%

3rd quarter of this fiscal year
(As of December 31, 2006)
AmountComponent
percentage%

Condensed consolidated balance
sheet for the previous fiscal year
(As of March 31, 2006)
Component
Amountpercentage%

5,900,600
4,750,839

8,382,626
7,923,043

7,534,815
4,768,010

393,8293,547
800,560
467,405
70,898374,949
50,858764,840
2,433,487
113,809364,619
39,905808,951
571,683
82,22912,245,884

50.4

19,815,997

51.3

14,005,756

1,152,067

1,314,073

1,228,080－
3,332,927

10,816,507－－
3,656,824

548,698
3,881,625

1,013,629
11,830,136

940,720
4,597,545

4,876,749
1,127,149
1,127,702
131,8633,800,648
1,493,603
958,550
555,465

9,560,144
1,144,546
1,179,662
119,956

6,999,738

5,697,337

11,764,397

44.3

12,033,431

49.6

18,830,978

48.7

17,590,023

55.7

－
－
24,279,316

－
100.0

9,126
9,126
38,666,671

0.0
100.0

－
－
31,595,780

－
100.0

6

Unit: thousand yen

Account name

3rd quarter of the previous
fiscal year
(As of December 31, 2005)
Amount(Liabilities)
I. Current liabilities
1. Accounts payable
2. Short-term loans
3. Income taxes payable
4. Allowance for costs of carduse
5. Allowance for points
6. Allowance for bonus
payments
7. Others
Total current liabilities
II. Fixed liabilities
1. Long-term liabilities
3. Allowance for retirement
benefits
4. Allowance for directors
and statutory auditors
retirement bonus
5. Others
Total fixed liabilities
Total liabilities(Minority interests)
Minority interests(Shareholders’ equity)
I. Capital stock
II. Additional paid-in capital
III. Accumulated income
IV. Unrealized gain on
available-for-sale securities
V. Foreign currency translation
adjustments
VI. Treasury stock
Total shareholders’ equity
Total
liabilities,
minority
interests and shareholders’equity3rd quarter of this fiscal year
(As of December 31, 2006)

Component
percentage%

Component
Percentage%

AmountCondensed consolidatedbalance sheet for the previous
fiscal year
(As of March 31, 2006)
Component
Amountpercentage%

2,756,863－
382,3782,820,308

4,780,062
6,566,274
474,5792,460,440

3,349,235
86,969826,587
2,323,140－
36,637576,057
87,908

697,582
77,316

1,286,863
7,283,051

2,054,868
17,000,191

30.0

44.0

1,844,745
9,205,576－
22,346

7,011,827
31,461－
27,252

114,784

142,604

121,134

29.1

299,967
437,099
7,720,150

1.8
31.8

692,9437,878,837
24,879,028

20.3
64.3

2,273,309
2,421,697
11,627,274

7.7
36.8

239,1341.0－–

342,525

1.1

3,218,000
3,708,355
8,998,974
630,302

13.3
15.3
37.0
2.6

－
－
－
－

–
–
–
–

3,218,000
3,708,355
9,408,748
3,401,193

10.2
11.7
29.8
10.7

118,668

0.5－–

243,9520.8

354,269
16,320,031
24,279,316

1.5
67.2
100.0

－
－
－

–
–
–

354,269
19,625,979
31,595,780

1.1
62.1
100.0

7

Unit: thousand yen
Account name

(Net assets)
I. Shareholders equity
1. Capital stock
2. Additional paid-in capital
3. Accumulated income
4. Treasury stock
Total shareholders’ equity
II. Unrealized gain andtranslation
1. Unrealized
gainonavailable-for-sale securities
2. Foreign
currencytranslation
adjustment
account
Total unrealized gains andtranslations
III. Stock options
1. Stock right
Total stock options
IV. Minority interest
Net assets
Total liabilities and net assets

3rd quarter of the previous fiscal
year(As of December 31, 2005)
Component
Amountpercentage

3rd quarter of this fiscal year
(As of December 31, 2006)
AmountComponent
percentage

Condensed consolidated balance
sheet for the previous fiscal year
(As of March 31, 2006)
Component
Amountpercentage

－
－
－
－
－

－
－
－
－
－

3,218,000
3,708,355
5,373,790
354,269
11,945,875

8.3
9.6
13.9
0.9
30.9

－
－
－
－
－

－
－
－
－
－

－

－

1,071,818

2.8

－

－

－

－

262,826

0.7

－

－

－

－

1,334,645

3.5

－

－

－

－

－

－

487
487
506,634
13,787,642
38,666,671

0.0
0.0
1.3
35.7
100.0

－
－
－

－
－
－

－
－
－

－
－
－

8

(2)

Consolidated Income Statement for the 3rd Quarter
Unit: thousand yen

Account name

3rd quarter of the previous fiscal
year(April 1, 2005 throughDecember 31, 2005)

21,111,178
14,342,111
6,769,066
4,281,930

Component
percentage
100.0
67.9
32.1
20.3

2,487,136
178,396
61,6602,603,872

11.8
0.8
0.3
12.3

AmountI Net sales
II Cost of Sales
Gross profit
III. Selling, general andadministrative expenses
Operating income
IV. Other income
V. Operating expenses
Ordinary profit
VI. Extraordinary profit
1. Gain on disposal ofinvestment securities
2. Revisions to profit forprevious fiscal year
3. Others
Total extraordinary profit
VII. Extraordinary loss
1. Loss on disposal of fixed
assets
2.Loss
fromsecurities
revaluation
3.Allowance for bad debt
4.Goodwill amortization
5. Loss on bad debts
6. Others
Total extraordinary loss
Income before income taxes
and minority interests
Income taxes and other taxes
Minority interests
Net income (minus is loss)

3rd quarter of this fiscal year
(April 1, 2006 throughDecember 31, 2006)

32,109,870
22,397,393
9,712,476
8,684,757

Component
percentage
100.0
69.8
30.2
27.0

1,027,719
125,571249,540
903,750

3.2
0.4
0.8
2.8

AmountCondensed consolidated income
statement for the previous fiscal
year(April 1, 2005 through March
31, 2006)
Component
Amountpercentage
30,040,166
100.0
20,308,957
67.6
9,731,209
32.4
6,339,781
21.1
3,391,428
221,436
157,805
3,455,058

109,346

27,775220,271－

139,137－－
109,346

9,772
176,685

0.5

89,487

14,332
234,603

0.8

324,765

108,555449,273

－

13.3
9.9

－
－
63,268
8,095
179,9193,509,742

0.6
11.7

2.0
0.1
11.8

2,166,080
94,631
1,438,293

7.2
0.3
4.8

63,268－
152,755
2,560,462

0.7
12.1

430,115
2,977,395－
91,4244,272,975
3,192,538

1,542,334
10,3901,028,518

7.3
0.1
4.9

631,433
38,147
3,785,825

9

0.6

11.3
0.7
0.5
11.5

(3)

Statements of Surplus for the 3rd Quarter
Unit: thousand yen
3rd quarter of the previous fiscal
year(April 1, 2005 throughDecember 31, 2005)
AmountCondensed consolidated balance
sheet for the previous fiscal year
(April 1, 2005 through March
31, 2006)
Amount3,708,355
3,708,355

3,708,355
3,708,355

8,128,670

8,128,670(Additional paid-in capital)
I. Beginning balance
II. Ending balance(Accumulated income)I Beginning balance
II. Increase of accumulated
income1. Net income
III. Decrease of accumulated
income1. Dividends
2. Bonuses to directors andstatutory auditors
IV Ending balance

1,028,518

1,028,518

1,438,293

1,438,293

119,215
39,000158,215

119,215
39,000158,215

8,998,974

9,408,748

10

Consolidated Statement of Changes in Shareholders’ Equity
3rd quarter of this fiscal year (April 1, 2006 through December 31, 2006)
Unit: thousand yen
Shareholders’ equity

Balance as of March 31, 2006

Capital stock

Additional paidin capital

Accumulated
incomeTreasury stock

Total
shareholders’equity3,218,000

3,708,355

9,408,748

354,269

15,980,834

Changes during Q3
Dividend paid from retained
earnings *Bonuses for directors andstatutory auditors *Net income (minus indicatesloss)
Decrease due to accountingchangeofsubsidiaries
overseas
Changes in other items thanshareholders’ equity

119,042

39,00039,0003,785,825

3,785,825

91,09191,091–––

4,034,958–

4,034,958

3,218,000

3,708,355

5,373,790

354,269

11,945,875

Total changes during Q3
Balance as of December 31,
2006

119,042

Unit: thousand yen
Unrealized gains and translations

Balance as of March 31, 2006

Unrealized
gains onavailable-forsale securities

Foreigncurrencytranslation
adjustment
account

Total
unrealized
gains andtranslations

3,401,193

243,952

3,645,145

Stock
options

Minority
interest

487

342,525

Net assets

19,968,992

Changes during Q3
Dividend paid from retained
earnings *Bonuses for directors andstatutory auditors *Net income (minus indicatesloss)
Decrease due to accountingchangeofsubsidiaries
overseas
Changes in other items thanshareholders’ equity

119,042
39,0003,785,825

91,091
2,329,375

18,8742,310,500–

164,218

2,146,392

Total changes during Q32,329,375

18,8742,310,500–

164,108

6,181,350

Balance as of December 31,
2006

1,071,818

262,826

1,334,645

487

506,634

13,787,642* Appropriation items reported at the shareholders general meeting in June 2006

11

(4)

Segment Information
Industry segments
3rd quarter of the previous fiscal year (April 1, 2005 through December 31, 2005)
Unit: thousand yen
Contents
distribution
services
Net sales
(1)
Sales
to
customers(2)
Intersegment
sales
Total
Operatingexpenses
Operating income

Electronic
payment
solution

MVNO
business

OthersEliminations/
Corporate

Total

Consolidated

9,758,308

11,312,411

40,458

21,111,178–

21,111,178

27,3382,364–

29,702

29,702–

9,785,646
7,110,347

11,314,775
11,227,138

297,046

40,45819,212

21,140,881
18,653,745

29,702
29,702

21,111,178
18,624,042

2,675,299

87,636

297,046

21,2462,487,136–

2,487,136

3rd quarter of this fiscal year (April 1, 2006 through December 31, 2006)
Unit: thousand yen

Net sales(1) Sales tocustomers(2) Intersegment
sales
Total
Operatingexpenses
Operating income

Contents
distribution
services

Electronic
payment
solution

13,656,504

16,122,394

80,119Eliminations/
Corporate

Consolidated

32,109,870–

32,109,870–

81,571

81,571–

6,546
1,285,774

2,324,424
2,484,503

32,191,442
31,164,222

81,571
82,071

32,109,870
31,082,150

1,279,227

160,078

1,027,219

500

1,027,719

MVNO

Others

Total

6,546

2,324,424

1,452

–

13,736,624
11,613,225

16,123,846
15,780,718

2,123,398

343,127

Previous consolidated fiscal year (April 1, 2005 through March 31, 2006)
Unit: thousand yen

Net sales(1) Sales tocustomers(2) Intersegment
sales
Total
Operatingexpenses
Operating income

Contents
distribution
services

Electronic
payment
solution

14,040,205

15,106,111–

893,849

71,677

2,758–

14,111,882
10,082,376

15,108,870
14,989,161

4,029,506

119,708

Eliminations/
Corporate

Consolidated

30,040,166–

30,040,166–

74,43674,436––706,645893,849
944,991

30,114,603
26,723,174

74,43674,43630,040,166
26,648,738

706,645

51,141

3,391,428–

3,391,428

MVNO

Others12

Total

Geographical segments
3rd quarter of the previous year (April 1, 2005 through December 31, 2005)
Unit: thousand yen
Net sales(1) Sales to customers(2) Intersegment sales
Total
Operating expenses
Operating income

Japan

Americas18,146,766–
18,146,766
15,257,295
2,889,470

2,495,613
451,104
2,946,718
3,097,646
150,927

Europe468,798
82,056550,854
802,261
251,406

Total
21,111,178
533,161
21,644,340
19,157,204
2,487,136

Eliminations/
Corporate

Consolidated–
533,161
533,161
533,161–

21,111,178–
21,111,178
18,624,042
2,487,136

3rd quarter of this fiscal year (April 1, 2006 through December 31, 2006)
Unit: thousand yen
Net sales(1) Sales to customers(2) Intersegment sales
Total
Operating expenses
Operating income

Japan

Americas

EuropeTotal

29,007,757–
29,007,757
26,385,039
2,622,717

2,256,491
520,558
2,777,050
4,275,675
1,498,625

845,621
93,408939,030
1,035,403
96,372

32,109,870
613,967
32,723,837
31,696,118
1,027,719

Eliminations/
Corporate

Consolidated–
613,967
613,967
613,967–

32,109,870–
32,109,870
31,082,150
1,027,719

Previous consolidated fiscal year (April 1, 2005 through March 31, 2006)
Unit: thousand yen
Net sales(1) Sales to customers(2) Intersegment sales
Total
Operating expenses
Operating income

Japan

Americas

EuropeTotal

26,053,353–
26,053,353
21,840,689
4,212,663

3,309,159
748,074
4,057,234
4,574,368
517,134

677,654
105,695
783,349
1,087,450
304,100

30,040,166
853,770
30,893,936
27,502,508
3,391,428

13

Eliminations/
Corporate–
853,770
853,770
853,770–

Consolidated
30,040,166–
30,040,166
26,648,738
3,391,428

Sales overseas
3rd quarter of the previous fiscal year (April 1, 2005 through December 31, 2005)
Unit: thousand yen
I. Net sales to foreign customers
II. Consolidated sales
III. Ratio of foreign sales to consolidated
sales (%)

North America
2,277,572

Others1,626,741

–

–

10.8

7.7

Total
3,904,314
21,111,178
18.5

3rd quarter of this fiscal year (April 1, 2006 through December 31, 2006)
Unit: thousand yen
I. Net sales to foreign customers
II. Consolidated sales
III. Ratio of foreign sales to consolidated
sales (%)

North America
2,919,587

Others1,317,899

–

–

9.1

4.1

Total
4,237,487
32,109,870
13.2

Previous consolidated fiscal year (April 1, 2005 through March 31, 2006)
Unit: thousand yen
I. Net sales to foreign customers
II. Consolidated sales
III. Ratio of foreign sales to consolidated
sales (%)

North America
3,388,962

14

Others2,100,222

–

–

11.3

7.0

Total
5,489,184
30,040,166
18.3