Sumitomo Heavy Industries, Ltd.
2Q CONSOLIDATED FINANCIAL REPORTFor the Six-Month Period from April 1 to September 30, 2012

All financial information has been prepared in accordance with generally accepted accounting principles in Japan. This document
has been translated from the Japanese original as a guide to non-Japanese investors and contains forward-looking statementsthat are based on management’s estimates, assumptions, and projections at the time of publication. A number of factors could
cause actual results to differ materially from expectations. Amounts shown in this financial statement have been rounded to thenearest million yen.

Consolidated Results for the Second Quarter
Ended September 30, 2012

Summary of Consolidated Financial Results
For the Second Quarter Ended September 30, 2012
Presented November 1, 2012

Sumitomo Heavy Industries, Ltd.
Listed exchanges

Tokyo Stock Exchange, Osaka Securities Exchange

Stock code

6302

Head officeTokyo

President

Yoshinobu Nakamura

URL

www.shi.co.jp

Inquiries

Hideo Oshima
General Manager, Corporate Communications Dept.

Telephone+81 3 6737 2333

Scheduled reporting date for quarterly report

November 7, 2012

Scheduled date of payment of cash dividends

December 3, 2012

Availability of supplementary explanations forquarterly financial statement
Holding of meeting to explain quarterly
financial statement

Yes
Yes (for analysts)

1. FY 2012 2Q Consolidated Results (April 1, 2012, to September 30, 2012)(1) Business Results(Units: millions of yen)
Second Quarter
April 1 to September 30, 2012

Previous Second Quarter
April 1 to September 30, 2011

% change% change

Net sales

293,251(0.3)

294,068

16.7

Operating income

17,401(19.4)

21,57932.4

Ordinary income

16,577(17.8)

20,16836.1

Net income

9,842

6.6

9,236

16.6

Net income per share (yen)Fully diluted net income per share (yen)

16.04

15.04

−

−

Note: Comprehensive income
Fiscal quarter ended September 30, 2012: 8,653 million yen (-7.3%)
Fiscal quarter ended September 30, 2011: 9,338 million yen (123.9%)

2

Consolidated Results for the Second Quarter
Ended September 30, 2012

(2) Financial Position(Units: millions of yen)
End of Second Quarter
As of September 30, 2012

End of Previous Full YearAs of March 31, 2012

Total assets

648,198

691,841

Shareholders’ equity

287,220

282,145

43.8

40.3

Equity ratio (%)
Reference: Equity
Fiscal quarter ended September 30, 2012: 283,639 million yen
Fiscal year ended March 31, 2012: 278,888 million yen

2. Dividends(Units: yen)
Year Ended March 31,
2012

Year Ended March 31,
2013

Year Ended March 31,
2013 (forecast)

Annual dividends per share
−

−

4.00

4.00

First quarter
Second quarter
Third quarter−−End of term

6.00

4.00

Annual dividends

10.00

8.00

Note:

Changes from the most recent dividend forecast: None

3. FY 2012 Consolidated Forecasts (April 1, 2012, to March 31, 2013)(Units: millions of yen)
Full Year
April 1, 2012, to March 31, 2013

% change
Net sales

600,000(3.9)

Operating income

32,000(32.1)

Ordinary income

29,000(35.0)Net income

16,500(15.3)

Projected net income per share (yen)

26.89

Note:

Changes from the most recent consolidated forecast: Yes

3

Consolidated Results for the Second Quarter
Ended September 30, 2012

Additional Notes(1) Transfers of important subsidiaries during the fiscal period (moves of specific subsidiaries due to change in scope of
consolidation):
None
Newly consolidated:

None

Excluded from consolidation:

None

(2)
quarterly consolidated financial report:

Special accounting measures applied in theNone(3)Changes to accounting policies, changes to accounting estimates, and restatements

Note:(i) Changes to accounting policies resulting from revisions to accounting standards, etc.:

Yes(ii) Changes other than (i):None(iii) Changes to accounting estimates:Yes(iv) Restatements:

None

Falls under Article 10, Item 5 of the “Ordinance on Terminology, Forms and Preparation Methods of Quarterly
Financial Statements, etc.”. For details, see (3) Changes to Accounting Policies, Changes to Accounting
Estimates, and Restatements under 2. Notes regarding Summary Information (Additional Notes) on page 9 of
the Supplemental Materials section of this document.

(4) Number of shares issued (common shares)(i) Number of shares issued at end of fiscal period (including treasury stock):
As of September 30, 2012
As of March 31, 2012

614,527,405 shares
614,527,405 shares(ii) Amount of treasury stock at end of fiscal period
As of September 30, 2012
As of March 31, 2012

826,787 shares
811,946 shares(iii) Average number of shares during fiscal period (cumulative quarterly period)
As of September 30, 2012
As of September 30, 2011

613,709,170 shares
614,176,736 shares

Recording of Implementation Conditions regarding Quarterly Review ProceduresThis quarterly financial summary does not fall within the scope of the Quarterly Review Procedures referenced
in the Financial Instruments and Exchange Act. At the time of disclosure of the quarterly financial summary, theGroup was in the process of implementing the quarterly review procedures for its quarterly financial statements.
Explanations and Other Special Items regarding the Pertinent Reasons for the Earnings Forecast
Earnings forecasts and outlooks concerning future financial results are believed to be reasonable based on
information available at the time of publication. Actual financial results may vary from the above forecast andoutlook due to a variety of factors. For information on the assumptions that form the basis of the earnings
forecast and items to note concerning the use of earnings forecasts, please see the analysis of businessperformance in the Supplementary Materials section beginning on page 6.

4

Consolidated Results for the Second Quarter
Ended September 30, 2012

Supplementary Materials – Table of Contents

1. Qualitative Information regarding Current Quarterly Consolidated Business Performance .......6(1) Qualitative Information on Consolidated Business Performance ....................................................6(2) Qualitative Information on the Group’s Consolidated Financial Position.........................................7(3) Qualitative Information regarding Consolidated Earnings Forecast ................................................8
2. Notes regarding Summary Information (Additional Notes) ............................................................9(1) Changes Involving Important Subsidiaries during the Current Consolidated Year-to-Date Quarterly
Period .............................................................................................................................................9(2) Special Accounting Procedures Adopted during the Development of the Quarterly Consolidated
Financial Report..............................................................................................................................9(3) Changes to Accounting Policies, Changes to Accounting Estimates, and Restatements ...............9
3. Quarterly Consolidated Financial Statements ...............................................................................10(1) Quarterly Consolidated Balance Sheets .......................................................................................10(2) Consolidated Income Statements and Consolidated Statement of Comprehensive Income.........12
Consolidated Income Statements .................................................................................................12
Consolidated Statement of Comprehensive Income .....................................................................13(3) Notes on Premise of a Going Concern .........................................................................................13(4) Notes regarding Significant Fluctuations to Shareholders’ Equity.................................................13(5) Subsequent Events of Significant Importance ..............................................................................13
4. Supplementary Information .............................................................................................................14(1) Orders, Sales and Operational Profit, and Balance of Orders by Segment ..................................14(2) (Summary) Consolidated Cash Flows Statement .........................................................................16

5

Consolidated Results for the Second Quarter
Ended September 30, 2012

1. Qualitative Information regarding Current Quarterly Consolidated Business
Performance(1) Qualitative Information on Consolidated Business Performance
The Japanese economy in the second quarter of the current fiscal year under review remained unstable as on one hand,signs of economic recovery arising from earthquake recovery-related demand were seen, whereas on the other, thecontinued strength of the Japanese yen put downward pressure on any such recovery. Outside of Japan, overall
conditions remained weak as any economic recovery seen in portions of the United States market was erased by signsof long-term financial uncertainty in Europe as well as the slowdown of the Chinese economy that, up to now,underpinned the global economy.
Set against this economic backdrop, the Group focused on implementing strategies to counteract the strong Japanese
yen including making improvements to its global supply chain, and worked to increase competitiveness.
Despite these efforts, orders decreased across all segments of the Group, with the exception of the Ships segment, toend at JPY266.6 billion, a 12% decline as compared to same period last year (hereinafter referred to as the “previousterm”). In terms of sales, the Machinery Components, Ships, Construction Machinery and Other segments saw a decline
in sales. Consequently, the Group posted total sales of JPY293.3 billion, a 0% decrease from the previous term.
Turning to income, despite sales remaining flat as compared to the previous term, the continued strength of theJapanese yen had a negative impact, resulting in the Group posting an operating income figure of JPY17.4 billion, a 19%
decline from the previous term, and ordinary income of JPY16.6 billion, an 18% decline from the previous term. However,quarterly net income increased by 7% from the previous term to finish at JPY9.8 billion, mainly because a one-time
impairment loss was booked in the second quarter of the previous fiscal year.
Conditions in each business segment of the Group were as follows:
1. Machinery Components
The simultaneous softening of overseas markets, particularly in Europe, and the slowdown in domestic demand resulted
in both decreased orders and sales from the previous term in this segment. In actual figures, the segment received
orders worth JPY46.4 billion (a decrease of 6% from the previous term), and posted sales of JPY45.3 billion (a decreaseof 2% from the previous term). Further, the segment posted an operating income of JPY500 million.
2. Precision Machinery
With respect to the plastic machinery business, there was a softening of IT-related demand from certain East Asianmarkets, and as a result, order levels for this product line fell from the previous term. Sales for this product line, however,increased as a result of the abundance of orders carried forward from the previous term. In other product areas, demandin the electronics and semiconductor markets remained weak. As a result, orders for the segment as a whole fell, whilesales levels increased. In actual figures, the segment received orders worth JPY65.0 billion (a decrease of 12% from theprevious term), and posted sales of JPY71.6 billion (an increase of 4% from the previous term). Further, the segment
posted operating income of JPY5.5 billion.
3. Construction Machinery
The hydraulic excavator business saw a decline in both orders and sales due to the slowdown of the key Chinese market.
The construction crane business posted improved orders and sales figures as the North American market continued toshow signs of recovery. As a result, the segment as a whole received orders worth JPY79.5 billion (a decrease of 8%
from the previous term) and posted sales of JPY78.6 billion (a decrease of 2% from the previous term). Further, thesegment posted operating income of JPY3.1 billion.

6

Consolidated Results for the Second Quarter
Ended September 30, 2012

4. Industrial Machinery
Demand for turbines and pumps fell as the strong Japanese yen weakened exports. At the same time, demand for thesegment’s materials handling products fell as the steelmaking and shipbuilding industries showed signs of weakening. As
a result, overall orders for the segment fell as compared to the previous term. On the other hand, the backlog of orders
carried forward from the previous term resulted in an increase in sales as compared to the previous term. In actual
figures, the segment received orders worth JPY35.2 billion (a decrease of 19% from the previous term) and posted salesof JPY38.0 billion (an increase of 2% from the previous term). Further, the segment posted operating income of JPY3.5
billion.
5. Ships
The ship market has continued to remain stagnant. and this is reflected in the lack of new shipbuilding orders received
during the period under review, which was the same figure as the previous term. With regard to sales, two vessels werehanded over during the period under review, two fewer vessels than in the previous term. In actual figures, the segment
received orders worth JPY4.9 billion (an increase of 25% from the previous term), and posted sales of JPY22.3 billion (adecrease of 28% from the previous term). Further, the segment posted operating income of JPY2.8 billion.
6. Environmental Facilities & Plants
Despite a partial uptick in the market for energy-related plants, the market for water treatment-related plants remainedsluggish, and as a result overall order levels fell. Sales, on the other hand, increased, mainly due to the abundance oforders carried forward from the previous term. In actual figures, the segment received orders worth JPY31.2 billion (adecrease of 22% from the previous term) and posted sales of JPY33.4 billion (an increase of 24% from the previousterm). Further, the segment posted operating income of JPY1.4 billion.
7. Others
The segment received orders worth JPY4.3 billion (a decrease of 0% from the previous term) and posted sales of JPY4.1
billion (a decrease of 5% from the previous term). Further, the segment posted operating income of JPY600 million.

(2) Qualitative Information on the Group’s Consolidated Financial Position
1. Condition of Assets, Liabilities and Net Assets
Total assets at the end of the current quarter under review (ended September 30, 2012) amounted to JPY648.2 billion, adecrease of JPY43.6 billion as compared to the end of the previous consolidated fiscal year. This was mainly due to the
JPY29.7 billion decrease in cash and deposits, and the JPY12.9 billion decrease in trade notes and accounts receivable,
exceeding the JPY5.3 billion increase in inventory assets as compared to the end of the previous consolidated fiscal
year.
Total liabilities fell to a figure of JPY361.0 billion, a decrease of JPY48.7 billion as compared to the end of the previous
consolidated fiscal year. This was mainly due to the JPY22.9 billion decrease in trade notes and accounts payable, theJPY8.7 billion decrease in the balance of interest-bearing liabilities, and the JPY8.8 billion decrease in income taxes
payable as a result of making income tax payments.
Net assets amounted to JPY287.2 billion, an increase of JPY5.1 billion as compared to the end of the previous
consolidated fiscal year, mainly due to the JPY6.2 billion increase in retained earnings.
As a result of the above, the shareholders’ equity ratio improved by 3.5% from the end of the previous consolidated fiscal
year to finish at 43.8%.
2. Cash Flow Condition
Cash flow for operating activities during the second quarter of the current fiscal year under review totaled an outflow of
JPY4.7 billion (as compared to an inflow of JPY13.5 billion in the previous term), mainly due to an increase in inventory
assets, a decrease in accounts payable, and the payment of corporate income taxes.
Cash flow for investment totaled JPY12.1 billion, an increase of JPY3.4 billion from the previous term, mainly due to anincrease in the cash used to acquire fixed assets.
Cash used for financing totaled JPY13.8 billion, an increase of JPY13.2 billion from the previous term, mainly due to anincrease in repayments of interest-bearing liabilities.

7

Consolidated Results for the Second Quarter
Ended September 30, 2012

As a result of the foregoing, the balance of cash and cash equivalents at the end of the second quarter of the current
consolidated fiscal year under review totaled JPY42.3 billion, a decrease of JPY30.1 billion as compared to the end of
the previous consolidated fiscal year.

(3) Qualitative Information regarding Consolidated Earnings Forecast
During the second quarter of the current fiscal year, sales in the Ships segment increased mainly due to a rise in demand
for ship repair work. However, sales in the Construction Machinery segment fell mainly due to the slowdown of theChinese market for hydraulic excavators, and the poor market environment in the Precision Machinery segment also
pushed down sales in this area. As a result, overall sales fell short of the previously announced forecast. In terms ofincome, the levels across the board for operating income, ordinary income, and net income for the current period
exceeded the previously announced forecast, mainly due to an increase in sales related to ship repair work in the Ships
segment, as well as the impact of cost-cutting measures in the Precision Machinery and Industrial Machinery segments
taking effect.
As for the full-year forecast, after considering the unpredictable environment that forms the backdrop of the Group’s
operations, concerns regarding the future outlook, and the second quarter consolidated financial performance figures,the sales forecast has been revised downwards, mainly in the Construction Machinery segment. As for operating income,ordinary income, and net income for the current consolidated fiscal year, the forecasted figures remain unchanged fromthose previously announced.
Please note that in May 2012, the Ministry of Defense suspended SHI’s Defense System Group and one consolidated
subsidiary from bidding on future contracts after the Ministry discovered that the two entities over-calculated the numberof work hours expended in one of its contracts. Although the Group anticipates that penalty payments will be incurred inaccordance with the terms of the contract, at this stage, the Group is fully cooperating with the Ministry, and the amountof the penalty and the timing of the payment are undetermined. For this reason, no such amount has been incorporated
into the current earnings forecast.
On a separate note, from the third quarter of the current consolidated fiscal year under review, the following currency
exchange rates are being assumed: USD1 = JPY78; EUR1 = JPY100.
The following table outlines the difference in the new full-year consolidated financial forecast from the previously
announced version that was included in the first-quarter financial results released on July 31, 2012.

Fiscal Year Ending March 2013
(Units: millions of yen)

% Difference(Reference)Previous Year
Results(20,000)(3.2)

624,100

32,000−−47,13529,000−−44,61916,50016,500−−19,492

26.89

26.89

−

−

31.75

Previous
Forecast (A)Current
Forecast (B)Net sales

620,000

600,000

Operating income

32,000Ordinary income

29,000Net income
Net income per share (yen)8Difference(B-A)

Consolidated Results for the Second Quarter
Ended September 30, 2012

2. Notes regarding Summary Information (Additional Notes)(1) Changes Involving Important Subsidiaries during the Current Consolidated Year-to-Date Quarterly
PeriodThere are no applicable items.

(2) Special Accounting Procedures Adopted during the Development of the Quarterly Consolidated
Financial Report
There are no applicable items.

(3) Changes to Accounting Policies, Changes to Accounting Estimates, and Restatements(Changes to Accounting Policies Where It Is Difficult to Differentiate Such Changes from Changes to Accounting
Estimates)
In accordance with the revisions to the Corporation Tax Law, the Group, along with its domestic consolidated
subsidiaries, has applied the depreciation method to tangible fixed assets acquired after April 1, 2012, as of the firstquarter of the current consolidated fiscal year under review.
However, please note that the impact of this change to the profit or loss figures for the second quarter of the current
consolidated fiscal year under review is negligible.

9Consolidated Results for the Second Quarter
Ended September 30, 2012

3. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Units: millions of yen)
End of Previous Fiscal YearAs of March 31, 2012

End of Second Quarter
As of September 30, 2012

AmountAmountAssetsCash and deposits

73,37343,652

Notes and accounts receivable

181,248

168,340

Inventory assets

143,922

149,217

Other

31,35725,892(855)(1,033)429,046

386,068Land

116,306

116,323

Other (net)103,506

105,302

Total tangible assets

219,812221,625

6,374

6,768

6,374

6,768

Other

38,02235,155

Allowance for doubtful accounts(1,414)(1,418)36,60933,737

Fixed assets

262,795

262,131

Total assets

691,841

648,198

Allowance for doubtful accounts
Current assets

Other
Total intangible assets

Investments and other assets

10Consolidated Results for the Second Quarter
Ended September 30, 2012

(Units: millions of yen)
End of Previous Fiscal YearAs of March 31, 2012

End of Second Quarter
As of September 30, 2012

AmountAmountLiabilities
Notes and accounts payable

153,843

130,975

Short-term bank loans

27,38338,941Long-term loans due within one year

19,796

9,901

−

5,000

Allowance

10,456

8,933

Other

76,98260,718288,461

254,467

Bonds

10,00010,000Long-term debt due after one year

39,34323,988

Employees’ severance and retirement benefits

35,88436,717

54

55

Deferred income taxes on revaluation

27,651

27,651

Other

8,303

8,100

Long-term liabilities

121,235

106,511

Total liabilities

409,696

360,978

Common stock

30,87230,872

Capital surplus

23,78923,789Retained earnings

201,433

207,621

Treasury stock

(445)

(445)

Stockholders’ equity

255,649

261,837

Unrealized gains on securities

2,267

890

Profit (loss) on deferred hedge

277

662

Adjustment regarding pension obligations ofconsolidated overseas subsidiaries(3,573)(3,635)

Revaluation reserve for land

43,381

43,642Foreign currency translation adjustments(19,113)(19,757)

Total accumulated other comprehensive income

23,23921,802

Minority interests

3,258

3,581

Total net assets

282,145

287,220

Liabilities and net assets

691,841

648,198

Commercial paper

Current liabilities

Allowance

Net assets

11Consolidated Results for the Second Quarter
Ended September 30, 2012

(2) Consolidated Income Statements and Consolidated Statement of Comprehensive Income
Consolidated Income Statements(Units: millions of yen)Previous Second Quarter
April 1, 2011, to September
30, 2011

Present Second Quarter
April 1, 2012, to September
30, 2012

AmountAmountNet sales

294,068

293,251

Cost of sales

230,660

231,748

Gross income

63,40861,503

Selling, general & administrative expenses

41,82944,101

Operating income

21,57917,401

Interest income

89

150

Dividend income

314

607

1,351

1,278

1,754

2,035

777

993

2,388

1,865

Total non-operating expenses

3,165

2,859

Ordinary income

20,168

16,577

2,155

1,030

Loss on contracts

374−

Loss on impaired assets

229−

Total extraordinary losses

2,758

1,030

Income before income taxes

17,41015,547

Corporate income taxes

7,555

5,434

Quarterly net income before income or loss
adjustments on minority interests

9,855

10,113

619

271

9,236

9,842

Non-operating income

Other
Total non-operating income
Non-operating expenses
Interest expense
Other

Extraordinary losses
Loss on devaluation of marketable securities

Minority interests
Net income

12Consolidated Results for the Second Quarter
Ended September 30, 2012

Consolidated Statement of Comprehensive Income(Units: millions of yen)Previous Second Quarter
April 1, 2011, to September 30,
2011
Amount

Net income before adjusting for profit (loss)
from minority interests

Present Second Quarter
April 1, 2012, to September 30,
2012
Amount9,855

10,113

Unrealized gains on securities

36(1,377)

Profit (loss) on deferred hedge

265

401

Adjustment regarding pension
obligations of consolidated overseas
subsidiaries

95

(62)

(908)

(431)

Amount applied for equity method
accounting of affiliates(5)

9

Total other comprehensive income(517)(1,460)

9,338

8,653

8,667

8,338

671

315

Other comprehensive income

Foreign currency translation adjustments

Comprehensive income(Breakdown)Comprehensive income relating to parent
company shareholdings
Comprehensive income relating tominority interests(3) Notes on Premise of a Going Concern
There are no applicable items.

(4) Notes regarding Significant Fluctuations to Shareholders’ Equity
There are no applicable items.

(5) Subsequent Events of Significant Importance
There are no applicable items.

13Consolidated Results for the Second Quarter
Ended September 30, 2012

4. Supplementary Information(1) Orders, Sales and Operational Profit, and Balance of Orders by Segment
Orders Received(Units: millions of yen)Segment

April 1, 2011, toSeptember 30, 2011

April 1, 2012, toSeptember 30, 2012

AmountAmountY/Y Change
Amount%Machinery Components

49,23946,392(2,847)(5.8)

Precision Machinery

74,05665,019(9,037)(12.2)

Construction Machinery

86,41979,533(6,886)(8.0)

Industrial Machinery

43,40835,239(8,169)(18.8)

Ships

3,899

4,862

963

24.7

Environmental Facilities & Plants

40,21531,222(8,992)(22.4)

Others

4,322

4,309

(13)

(0.3)

Total

301,557

266,576(34,981)(11.6)

Sales and Operational Profit(Units: millions of yen)Segment

April 1, 2011, toSeptember 30, 2011
Operational
ProfitSales

April 1, 2012, toSeptember 30, 2012
Operational
ProfitSales

Y/Y Change
Operational
ProfitSales

Machinery Components

45,9992,221

45,271527(728)(1,694)

Precision Machinery

68,567

6,009

71,642

5,501

3,074

(508)

Construction Machinery

79,9103,936

78,5573,120(1,353)(817)

Industrial Machinery

37,246

4,885

38,014

3,483

768(1,402)

Ships

31,078

5,679

22,2652,754(8,813)(2,925)

Environmental Facilities & Plants

26,965(1,966)33,403

1,431

6,438

3,398

Others

4,302

841

4,101

567

(201)

(274)

―

(25)

―

18

―

43

294,068

21,579293,251

17,401(817)(4,178)Adjustments
Total

14

Consolidated Results for the Second Quarter
Ended September 30, 2012

Balance of Orders Received(Units: millions of yen)Segment

End of Previous Fiscal
Year
As of March 31, 2012

End of Second Quarter
As of September 30,
2012

AmountAmountChangeAmount%Machinery Components

27,99029,111

1,121

4.0

Precision Machinery

68,48861,865(6,623)(9.7)

Construction Machinery

25,35826,334977

3.9

Industrial Machinery

68,40065,625(2,775)

(4.1)

Ships

46,353

28,950(17,403)(37.5)

Environmental Facilities & Plants

70,174

67,994(2,180)(3.1)

Others

1,585

1,793

208

13.2

Total

308,348

281,673(26,675)(8.7)

The Group’s operating segments are categorized as follows:Businesses

Main Products

Machinery Components

Power transmission and control equipment

Precision Machinery

Plastic injection molding machines, film forming machines, semiconductor
production equipment, laser processing systems, cryocoolers, precision
positioning equipment, ion accelerators, medical machines and equipment,
plasma coating systems for FPDs, precision forgings, control components,
defense equipment, machining tools

Construction Machinery

Hydraulic excavators, mobile cranes, road machinery

Industrial Machinery

Forging machines, material handling systems, logistics systems, automatedparking systems, turbines, pumps

Ships

Ships

Environmental Facilities & Plants

Private power generation facilities, boilers, industrial waste treatment facilities,
air pollution control equipment, water and sewage treatment systems, processequipment, pressure vessels, mixing vessels, air-conditioning equipment, foodprocessing machinery

15

Consolidated Results for the Second Quarter
Ended September 30, 2012(2) (Summary) Consolidated Cash Flows Statement(Units: millions of yen)Previous Second
Quarter
April 1, 2011, toSeptember 30, 2011

Present Second Quarter
April 1, 2012, toSeptember 30, 2012

Y/Y Change

Income before income taxes

17,41015,547(1,863)

Depreciation

8,526

8,455

(71)

(Increase) decrease in notes andaccounts receivable

4,524

8,941

4,417

(Increase) decrease in inventories(6,819)(4,316)

2,503

Increase (decrease) in notes andaccounts payable

2,111(23,487)(25,599)(13,423)(13,811)

(388)

1,205

3,940

2,736

Net cash provided by operating activities

13,533(4,731)(18,265)

Payments for purchases of property,
plant, and equipment(10,042)(12,588)(2,545)

Proceeds from sale of fixed assets

1,294

1,058

(236)

Proceeds from sale of securities

143

281

138

Other

(61)

(852)

(791)

(8,667)(12,101)(3,434)

Net increase (decrease) in short-term
loans

5,353

(8,712)(14,066)

Cash dividends paid

(4,900)(3,671)

1,230

Other

(1,096)(1,444)(347)

Net cash used in financing activities(643)(13,826)(13,183)

Other

500

590

90

Cash and cash equivalents at beginning of
period51,70072,376

20,676

Cash and cash equivalents at end of period

56,42442,307(14,117)

Payments for income taxes
Other

Net cash used in investing activities16