Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Six Months Ended December 31, 2015
(Based on Japanese GAAP)
February 12, 2016
Company name:
Trust Tech Inc.
Stock exchange listing: Tokyo
Stock code:
Representative:

2154
URL http://www.trust-tech.jp/
CEO & Chairman
Takehiko Ogawa

Inquiries:

Board Director
Managing Corporate Executive Officer

Noriyuki Murai

TEL

Chief Administrative Officer
Scheduled date to file Quarterly Securities Report:

February 15, 2016

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:

March 4, 2016
Yes

Holding of quarterly financial results meeting:Yes

03-5777-7727(for institutional investors, analysts and general investors)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended December 31, 2015 (from July 1, 2015 to December 31, 2015)(1) Consolidated operating results (cumulative)
Net sales
Six months ended December 31, 2015
Six months ended December 31, 2014
Note: Comprehensive income

Millions of yen
14,545
9,918

Percentages indicate year-on-year changes
Profit attributable toOperating income
Ordinary income
owners of parent% Millions of yen% Millions of yen% Millions of yen%
46.7
1,107
69.0
1,103
64.6
643
51.8
17.8
655
4.9
670
4.3
423
9.5

Six months ended December 31, 2015
Six months ended December 31, 2014

¥642 million [51.1 %]¥425 million [10.2 %]Earnings per share

Diluted earnings per share

Yen
66.62
44.25

Six months ended December 31, 2015
Six months ended December 31, 2014

Yen
66.15
43.76

(2) Consolidated financial position
Total assets
Millions of yen
10,7807,725

As of December 31, 2015
As of June 30, 2015
Reference: Equity

Net assets

As of December 31, 2015
As of June 30, 2015

Equity ratio

Millions of yen
4,715
4,406

%
43.7
57.0

¥4,711 million¥4,406 million

2. Cash dividends
Annual dividends per share

Year ended June 30, 2015
Year ending June 30, 2016

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
25.00
30.00

Yen–

Yen
35.00

Yen
60.00

–

25.00

–Year ending June 30, 2016 (Forecast)

Total

Note: Revision of cash dividend forecast most recently announced: Yes* The Company plans to implement a 2-for-1 stock split effective April 1, 2016. Accordingly, the year-end dividend per share for the fiscal year
ending June 30, 2016 (forecast) indicates the amount in consideration of the stock split. On a pre-split basis, the year-end dividend per share forthe fiscal year ending June 30, 2016 (forecast) would be 50.00 yen per share, which makes the annual dividend per share 80.00 yen in total. As aresult, the dividend forecast has been revised (a dividend increase).

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3. Forecast of consolidated financial results for the year ending June 30, 2016 (from July 1, 2015 to June 30, 2016)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating income
Ordinary income
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Full year
30,000
44.1
2,500
56.5
2,50054.0
1,500
46.4
77.69
Note: Revision of consolidated financial results forecast most recently announced: Yes
For the revised forecasts of the consolidated financial results, please refer to the "Notice of differences between the consolidated earnings
forecasts and the actual results for the six months ended December 31, 2015 and the revised forecasts of the consolidated financial results for thefiscal year ending June 30, 2016 as well as the interim dividend and the revisions to the year-end dividend forecast (a dividend increase)"released on February 12, 2016.
* The Company plans to implement a 2-for-1 stock split effective April 1, 2016. Accordingly, the earnings per share in the forecasts of theconsolidated financial results for the fiscal year ending June 30, 2016 indicate the amount in consideration of the stock split. On a pre-split basis,the earnings per share for the fiscal year ending June 30, 2016 would be 155.38 yen.
4. Notes(1) Changes in significant subsidiaries during the six months ended December 31, 2015(changes in specified subsidiaries resulting in the change in scope of consolidation):
Newly included: 2 companies

System One Co., Ltd., ECS Co., Ltd.

Yes

Excluded: –(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2015

9,654,000 shares As of June 30, 2015

9,654,000 shares

164 shares As of June 30, 2015

105 shares

Number of treasury shares at the end of the period
As of December 31, 2015

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended December 31, 2015

9,653,879 shares Six months ended December 31, 2014

9,575,969 shares* Presentation of the implementation status of the procedures for quarterly reviewThis quarterly financial results summary is not subject to the procedures for quarterly review pursuant to the Financial Instruments and ExchangeAct. The procedures for reviewing the Company’s quarterly consolidated financial statements in accordance with the Financial Instruments andExchange Act are yet to be completed at the time of disclosure of this quarterly financial results summary.
* Explanation of the appropriate use of earnings forecasts and other special notes(Notes on forward-looking statements)
Earnings forecasts and other forward-looking statements stated in this document are based on information currently available to the Company
and certain assumptions that the Company considers to be reasonable. The actual results may differ materially from the forecasts due to variousfactors.
(Forecasts of the dividend amount and the financial results after the stock split)
The Company plans to implement a 2-for-1 stock split effective April 1, 2016. Accordingly, the forecast of the year-end dividend per share andthe earnings per share in the forecasts of the financial results for the fiscal year ending June 30, 2016 indicate the amount in consideration of thestock split.

2Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of June 30, 2015

As of December 31, 2015

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

3,038,9782,954,078

3,662,544
3,506,820

558,395

654,2316,551,452

7,823,596

221,662

269,054

Goodwill
Other–
130,6072,126,127
133,184

Total intangible assets

130,6072,259,312

577,970–

Other

243,767

429,014

Total investments and other assets

821,737

429,014

1,174,007

2,957,381

7,725,460

10,780,978

Short-term loans payable
Accrued expenses–
1,754,367

2,300,000
1,897,856

Income taxes payable
Accrued consumption taxes

388,534
718,793281,932
464,269

Provision for bonuses
Other

188,794
236,964

405,774
643,210

Total current liabilities

3,287,454

5,993,042

6,267

45,067Other

25,291

27,396

Total non-current liabilities

31,55872,464

3,319,013

6,065,507

Capital stock
Capital surplus

1,529,690
687,175

1,529,690
687,175

Retained earnings
Treasury shares

2,193,146(177)

2,498,404(318)

Total shareholders' equity

4,409,835

4,714,951

OtherTotal current assets
Non-current assets
Property, plant and equipment
Intangible assets

Investments and other assets
Real estate for investment, net

Total non-current assets
Total assets
Liabilities
Current liabilities

Non-current liabilities
Net defined benefit liability

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

61

(41)

Foreign currency translation adjustment(3,449)(3,865)

Total accumulated other comprehensive income(3,388)(3,907)–

4,427

Subscription rights to shares
Total net assets
Total liabilities and net assets

34,406,446

4,715,470

7,725,460

10,780,978

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Six months ended

Six months ended

December 31, 2014

December 31, 2015

Net sales
Cost of sales

9,918,260
7,596,095

14,545,278
11,081,642

Gross profit

2,322,164

3,463,636

Selling, general and administrative expenses

1,667,072

2,356,226

655,092

1,107,409

Interest income
Subsidy income

225
8,257

354
5,263

Foreign exchange gains
Other

6,055
1,317

–
3,300

Total non-operating income

15,857

8,917

131

8,260

–
6

4,081
–

Operating income
Non-operating income

Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses

138

12,342670,811

1,103,984

Gain on sales of non-current assets–

22,436

Total extraordinary income–

22,436

Loss on retirement of non-current assets
payment burden money

–
5,825

470
–

Total extraordinary losses

5,825

470

Income before income taxes and minority interests

664,986

1,125,950

Income taxes - current
Income taxes - deferred

102,167
139,088464,281
18,525

Total income taxes

241,256

482,806

Profit423,729

643,144

Profit attributable to owners of parent

423,729

643,144

Ordinary income
Extraordinary income

Extraordinary losses

4Consolidated statements of comprehensive income (cumulative)(Thousands of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income

Six months ended

Six months ended

December 31, 2014

December 31, 2015

423,729

643,14417
1,636(103)(416)

1,654(519)

425,384

642,624

425,384

642,624Comprehensive income attributable toComprehensive income attributable to owners of parent

5Consolidated statements of cash flows(Thousands of yen)

Cash flows from operating activities
Income before income taxes and minority interests

Six months ended

Six months ended

December 31, 2014

December 31, 2015

664,986

1,125,950Depreciation
Amortization of goodwill

41,578–52,221
116,476

Increase (decrease) in provision for bonuses
Increase (decrease) in net defined benefit liability

17,396
203

62,5403,174(227)
131

(364)
8,260

Loss (gain) on sales of non-current assets
Decrease (increase) in notes and accounts receivable - trade–(20,779)(22,436)(66,546)

Increase (decrease) in accrued expenses
Other, net(45,267)
41,065(139,703)(106,606)

Subtotal

699,087

1,032,966

225
(131)

364
(9,037)

Income taxes paid

(357,506)(664,577)

Net cash provided by (used in) operating activities

341,675

359,715(86,055)(62,977)(49,872)(31,492)–(1,978,802)–
14,912(108,000)(59,936)

Proceeds from sales of investments in real estates
Other, net–
(180)598,650(17,947)

Net cash provided by (used in) investing activities(134,299)(1,647,401)–

2,300,000(3,509)(286,996)(3,509)(337,330)

Interest and dividend income
Interest expenses

Interest and dividend income received
Interest expenses paid

Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of shares of subsidiaries resulting in change in scopeof consolidation
Payments for transfer of businessNet decrease (increase) in lease and gurantee deposits

Cash flows from financing activities
Increase in short-term loans payable
Repayments of lease obligations
Cash dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

23,2004,285(267,306)

1,963,445

7,194(862)

Net increase (decrease) in cash and cash equivalents(52,736)

674,897

Cash and cash equivalents at beginning of period

2,429,972

3,038,978Cash and cash equivalents at end of period

2,377,235

3,713,875

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