[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

Summary of Financial and Business Results for the Full Yearof the Fiscal Year Ending February 2011
April 19, 2011
Ichigo Group Holdings Co., Ltd. (JASDAQ, 2337)
Representative:
Scott Callon, Chairman and Representative Statutory Executive Officer
Inquiries:
Minoru Ishihara, Senior Executive Managing Director and Statutory Executive Officer
Telephone: +81-3-3502-4818
www.ichigo-holdings.co.jp/english
Date of Annual General Meeting of Shareholders: May 28, 2010 (expected)
Date of Submission of Yuka Shoken Hokokusho (Annual Securities Report): May 30, 2011 (expected)
Date of Dividend Payment: N/A
Supplemental material to financial and business results: Yes
Financial and business results briefing: Yes (for institutional investors and analysts)
1. Consolidated Financial Results (from March 1, 2010 to February 28, 2011)(1) Consolidated Financial Results
Revenues
Operating Profit
Recurring Profit
Feb 11
Feb 10Q4Q4(million yen)(%)(million yen)

12,76021,112-39.6-58.1

(%)

1,351
1,108

(% change is year-on-year)

Net Profit(million yen)(%)(million yen)

1,616
573

182.0-

620
1,807

21.9-

Net Profit per
Share (basic, yen)

Net Profit per
Share (diluted, yen)

Return on Equity

Return on Assets

(%)

(%)

317.64
1,771.74

265.56773.33

2.7
12.4

Feb 11 Q4
Feb 10 Q4
Note: Minority interest

Feb 11 Q4: 466 million yen(2) Consolidated Financial Condition
Total Assets
Net Assets(million yen)(million yen)Feb 11 Q498,563
27,771
Feb 10 Q4
100,268
23,523
Reference: Shareholders’ equity Feb 11 Q4: 25,514 million yen(3) Consolidated Cash Flow
Cash flow fromoperations(million yen)Feb 11 Q4
4,094
Feb 10 Q4
7,170

(%)

-65.7
-

Operating Profit
Margin (%)

1.6
0.5

10.6
5.3

Feb 10 Q4: -184 million yen

Equity Ratio(%)

Net Assets per Share(yen)

25.9
20.4

10,920.79
11,711.48

Feb 10 Q4: 20,495 million yen

Cash flow frominvesting(million yen)

Cash flow fromfinancing
(%)

2,889
3,135

Cash and cashequivalents(yen)-5,078-14,733

12,343
10,728

2. Dividends
Dividend per Share (yen)FirstQuarter

SecondQuarter

Third
Quarter

FourthQuarter

FiscalYear

Total
dividend

Payoutratio(million yen)(consolidated)

Dividend
on equity
ratio

(%)

(consolidated)(%)

Feb 11
Feb 10Feb 11 (Expected)

-

0.0
0.0
0.0-

0.0
0.0
-

0.0
0.0
-00

0.0
0.0
-

0.00.03. Consolidated Forecast for the Fiscal Year Ending February 2012 (from March 1, 2011 to February 28, 2012)(% change is year-on-year)

Revenues(million yen)(%)

16,30027,7

Feb 12 Q2Full year

Operating Profit(million yen)
(%)

1,000

Net Profit(million yen)(%)

Recurring Profit(million yen)
(%)

-26.0

700

56.7

Net Profit per Share(Yen)

Feb 12 Q2Full year
1,300
109.5
556.43
Note: The Company refrains from disclosing the forecast for the 2nd quarter of the fiscal year ending February 2012.
4. Others(1) Changes in significant consolidated subsidiaries (material changes in scope of consolidation): None
(2) Changes in accounting principles, procedure and presentation(i) Change due to the amendments of accounting principles: Yes(ii) Change due to other than the above: None
(3) Number of outstanding shares (common shares)(i) Number of outstanding shares including treasury stock
Feb 11 Q4:
2,336,559
Feb 10 Q4:
1,750,275(ii) Number of shares of treasury stock
Feb 11 Q4:240
Feb 10 Q4:
240(iii) Average number of outstanding sharesFeb 11 Q4:
1,953,238
Feb 10 Q4:
1,019,912

5. Parent Financial Results (from March 1, 2010 to February 28, 2011)(1) Parent Financial Results
Revenues
Operating Profit
Recurring Profit(million yen)Feb 11
Feb 10Feb 11
Feb 10Q4Q4(%)

4,639
5,587

(million yen)

-17.0
208.9(%)

1,734-90(million yen)

-Net Profit per Share

Net Profit per Share(basic, yen)(diluted, yen)

1,198.83
2,218.41

Q4Q4(% change is year on year)

Net Profit(%)

1,543-402(million yen)

-

2,341
2,262(%)

3.5-

1,002.26
968.30(2) Parent Financial Condition Total Assets
Total Assets
Net Assets(million yen)(million yen)Feb 11 Q4
36,56022,535
Feb 10 Q435,811
15,726
Note: Shareholders’ equity
Feb 11 Q4: 22,454 million yen

Equity Ratio(%)

Net Assets per Share(yen)

61.4
43.8

9,.611.18
8,962.02

Feb 10 Q4: 15,683 million yen

6. Parent Forecast for the Fiscal Year Ending February 2012 (from March 1, 2011 to February 28, 2012)(% change is year on year)

Revenues
Feb 12 Q2Full year

Operating Profit

Recurring Profit

Net Profit(million yen)(%)(million yen)(%)(million yen)(%)(million yen)

(%)

3,800

-18.1

400

-76.9

150

90.3

1,800

23.1

Net Profit perShare (yen)770.44*Notice of Implementation of Audit Procedure: N/AN/A*Explanation of the Appropriate Use of the Above Earnings Forecast
Forward-looking statements contained in this material are based on judgments obtained from information that wasavailable to the Company as of the announcement date and depend upon certain assumption that have been deemed
reasonable at the present time. However, actual earnings may differ significantly from the above earnings forecast asa result of various factors.