Consolidated Financial Results
for the First Quarter Ended June 30, 2016 [ Japan GAAP ]August 5, 2016

The Sumitomo Warehouse Co., Ltd.
Securities code:

9303

Stock exchange listings:

TokyoURL:

http://www.sumitomo-soko.co.jp/

Representative:

Takanori Ono, President

Inquiries:

Akio Kakutani, Executive Officer, General Manager,
Finance & Accounting DepartmentTel:+81 6 6444 1183

Quarterly statement filing date (as planned):

August 10, 2016

Dividend payable date (as planned):－Supplemental material of quarterly results:

NoneConvening briefing of quarterly results:

None

1. Consolidated financial results for the first quarter ended June 30, 2016 (April 1, 2016- June 30, 2016)
Figures are rounded down to the nearest million yen, except per share figures.
(1) Consolidated operating results
Operating revenue
Millions of yen(％: change from the previous year)

Operating income％

Millions of yen

Profit attributable toOrdinary income％

Millions of yen

owners of parent％％

Millions of yen

Three months ended June 30, 2016

41,122

(4.4)

2,509

(1.5)

3,623

4.4

2,372

13.0

Three months ended June 30, 2015

43,029

5.1

2,548

17.0

3,47115.6

2,099

8.3

Note: Comprehensive income:Three months ended June 30, 2016: -4,090 million yen；－%Three months ended June 30, 2015: 7,078 million yen；45.9%
Net income per share
Yen

Diluted net income
per share
Yen

Three months ended June 30, 2016

13.28

13.26

Three months ended June 30, 2015

11.75

11.74

(2) Consolidated financial positions
Total assets

Net assets

Capital adequacy ratio

Millions of yen

Millions of yen％

As of June 30, 2016

287,214

163,917

54.4

As of March 31, 2016

300,558

169,45153.8

Note: Owner’s equityAs of June 30, 2016: 156,287 million yen
As of March 31, 2016: 161,813 million yen

2. Dividends
Dividend per shareFirst quarter
Yen
Year ended March 31, 2016

－Year ending March 31, 2017－

Second quarter
Yen
6.00

Third quarter
Yen－

Year ending March 31, 2017
7.00－(Forecast)
Note: Correction of dividend forecast from the most recent dividend forecast: None- 1-

Fiscal year end
Yen

Total
Yen

8.00

14.00

7.00

14.00

3. Consolidated forecasts for the year ending March 31, 2017 (April 1, 2016-March 31, 2017)
Operating revenue
Millions of yen％Operating income
Millions of yen％

Ordinary income
Millions of yen％(%: change from the previous year)
Profit attributable toNet income
owners of parentper share
Millions of yen％

Yen

Six months

86,000(2.3)

5,300(1.1)

6,200(6.0)

3,900(3.0)

21.82

Full year

173,000

0.4

10,8000.3

12,600

(1.4)

8,100

0.2

45.32

Note: Correction of financial forecast from the most recent financial forecast: None

4. Other(1) Material changes in subsidiaries during this period (Changes in scope of consolidations resulting from change in subsidiaries): None(2) Applying of specific accounting of the consolidated quarterly financial statements: Yes(3) Changes in accounting policies, accounting estimates and retrospective restatement
1) Changes in accounting policies based on revisions of accounting standard: Yes
2) Changes in accounting policies other than ones based on revisions of accounting standard: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None
(4) Number of issued and outstanding shares (common stock)
Number of issued and outstanding shares (including treasury stock):
As of June 30, 2016 : 195,936,231 shares
As of March 31, 2016 : 195,936,231 shares
Number of treasury stock:
As of June 30, 2016 : 17,223,811 shares
As of March 31, 2016 : 17,222,656 shares
Average number of shares:
First quarter ended June 30, 2016 : 178,713,008 sharesFirst quarter ended June 30, 2015 : 178,720,423 shares* Status of quarterly reviewing processes
This quarterly financial results are exempt from quarterly reviewing processes based on the Financial Instruments and Exchange Act,and reviewing processes of quarterly financial statements based on the Financial Instruments and Exchange Act has not been completed at
the time of disclosure of this quarterly financial results.
* Explanation for the proper use of forecasts and other special instructions
The forecasts are based on information currently available and certain assumptions judged to be reasonable. The Company’s actual
results may differ materially from the forecasts as a result of numerous factors outside of Company’s control.

- 2-Consolidated Financial Results(1) Consolidated quarterly balance sheets(Millions of yen)
As of March 31, 2016 As of June 30, 2016
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Real estate for sale
Work in process
Deferred tax assets
Other
Allowance for doubtful accounts

36,79818,59336
23
907
5,152(102)29,797
18,580
36
20
657
4,828
(96)

61,40953,824Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, netVessels, netTools, furniture and fixtures, net
LandConstruction in progress
Other, net

69,569
4,122
7,354
1,019
49,424
3,156
711

72,773
4,189
7,235
988
51,253775
689

Total property, plant and equipment

135,358

137,905

3,030
5,519
1,314
212

2,729
5,479
1,226
221

10,075

9,657

Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts

84,957
476
2,149
6,382
(251)

77,184
536
2,010
6,360
(264)

Total investments and other assets

93,71485,827239,148

233,390

300,558

287,214

Total current assets

Intangible assets
Goodwill
Leasehold right
Software
Other
Total intangible assets

Total non-current assets
Total assets- 3-(Millions of yen)
As of March 31, 2016 As of June 30, 2016
Liabilities
Current liabilities
Notes and accounts payable-trade
Current portion of bonds
Short-term loans payable
Income taxes payable
Provision for bonuses
Other

11,353100
12,480
2,215
1,719
6,069

11,333100
18,479
794
1,174
5,377

33,937

37,25925,10041,01019,280
2,853
64
7,684
1,174

25,05032,195
16,959
2,887
36
7,863
1,046

97,16986,038

Total liabilities

131,106

123,297

Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock

21,822
19,23888,782(8,952)

21,822
19,23889,731(8,953)

120,891

121,840

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans

36,224
(25)
4,598
124

30,971
(19)
3,347
147

Total accumulated other comprehensive income

40,921

34,447

163
7,474

163
7,465

169,451

163,917300,558

287,214

Total current liabilities
Non-current liabilities
Bonds payable
Long-term loans payable
Deferred tax liabilities
Net defined benefit liabilityProvision for directors' retirement benefits
Long-term deposits received
OtherTotal non-current liabilities

Total shareholders' equity

Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets- 4-

(2) Consolidated quarterly statements of income and consolidated quarterly statements of comprehensive income(Consolidated quarterly statements of income)(Millions of yen)Three months ended Three months ended
June 30, 2015
June 30, 2016
Operating revenue
Warehouse income
Harbor transportation income
International transportation income
Land transportation income
Shipping income
Rent income of warehouse and logistics facilities
Rent income of real estate
Other

5,600
8,931
8,677
6,756
7,976
1,283
2,318
1,484

5,687
8,732
7,992
6,721
6,721
1,399
2,325
1,543

43,02941,122

Operating cost
Cost of sales
Personal expenses
Rent expenses
Taxes and dues
Depreciation
Other

25,837
4,989
2,543
731
1,728
2,132

24,255
4,897
2,584
639
1,800
1,933

Total operating cost

37,962

36,109Operating gross profit

5,067

5,012

Selling, general and administrative expenses
Salaries and allowances and welfare expenses
Provision for bonuses
Retirement benefit expenses
Amortization of goodwill
Other

1,237
201
66
121
892

1,200
193
74
105
928

2,519

2,503

2,548

2,509

886
65
127

975
52
224

1,079

1,252

113
43

117
21156

139

3,471

3,623

Total operating revenue

Total selling, general and administrative expenses
Operating income
Non-operating income
Interest and dividend income
Share of profit of entities accounted for using equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary income- 5-(Millions of yen)Three months ended Three months ended
June 30, 2015
June 30, 2016
Extraordinary income
Gain on sales of non-current assets

28－28－52

1952

19

3,447

3,604

886
263

835
263

Total income taxes

1,150

1,098

Profit

2,296

2,505

197

133

2,099

2,372

Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes-current
Income taxes-deferred

Profit attributable to non-controlling interests
Profit attributable to owners of parent- 6-

(Consolidated quarterly statements of comprehensive income)(Millions of yen)Three months ended
June 30, 2015

Three months ended
June 30, 2016

2,296

2,505

4,873
4(102)
7(5,286)
10(1,142)
23(0)

(201)

4,782

(6,596)Comprehensive income

7,078(4,090)Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

6,883
195

(4,101)
11

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income- 7-

(3) Consolidated quarterly statements of cash flows(Millions of yen)Three months ended Three months ended
June 30, 2015
June 30, 2016
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in provisionInterest and dividend income
Interest expenses
Share of (profit) loss of entities accounted for using equity methodLoss (gain) on sales of non-current assets
Loss on retirement of non-current assets
Decrease (increase) in notes and accounts receivable-trade
Increase (decrease) in notes and accounts payable-trade
Other, net

3,447
1,837
121(444)
(886)
113
(65)
(28)
52
(235)
368
(1,834)

3,604
1,902
105
(577)
(975)
117
(52)
－Subtotal

2,446

4,759

Interest and dividend income received
Interest expenses paid
Income taxes paid

890
(132)
(1,532)977(145)(2,203)

Net cash provided by (used in) operating activities

1,671

3,387

Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Payments of loans receivableCollection of loans receivable
Other, net

(465)
4,025
(3,218)
171
(91)
(6)
(49)
10(33)(5,241)
6,086(5,402)13(143)(6)(65)
10(57)Net cash provided by (used in) investing activities

342(4,805)

1,825(1,439)100(4,438)(1,128)
(112)

1,684
(1,157)－(3,343)(1,312)(118)(5,193)(4,247)

Effect of exchange rate change on cash and cash equivalents

(122)

(447)

Net increase (decrease) in cash and cash equivalents(3,302)(6,113)

Cash and cash equivalents at beginning of period

21,82823,948Cash and cash equivalents at end of period

18,526

17,835

Cash flows from financing activities
Increase in short-term loans payable
Decrease in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Cash dividends paidOther, net
Net cash provided by (used in) financing activities- 8-

19(164)
193587

(4) Segment information
Information related to operating revenue and income (loss) by reportable segment
Three months ended June 30, 2015
Reportable segment
Adjustment(Note 1)

(Millions of yen)Amount inconsolidated
quarterlystatements ofincome(Note 2)

Logistics

Shipping

Real estate

Total

32,688

7,976

2,364

43,029－43,029

124

37

93

255

(255)

－

Total

32,813

8,014

2,457

43,285(255)

43,029Segment income

1,948

559

1,102

3,609

(1,061)

2,548

Operating revenue
Operating revenue to outside customers
Intersegment transfers

Notes: 1. Adjustment in segment income of ¥ -1,061 million includes company-wide expenses of ¥ -1,094 million, which are not allocatedto the respective reportable segments. Company-wide expenses consist mainly of the expenses not assignable to neither of thereportable segments for administrative departments of the Company and some of its consolidated subsidiaries.
2. Segment income is adjusted to coincide with operating income as recorded on the consolidated quarterly statements of income.

Three months ended June 30, 2016Reportable segment
Adjustment(Note 1)

(Millions of yen)Amount inconsolidated
quarterlystatements ofincome(Note 2)

Logistics

ShippingReal estateTotal

32,010

6,721

2,390

41,122－

41,122

109

4284

236(236)－

Total

32,120

6,763

2,474

41,358(236)

41,122

Segment income

2,355

374

979

3,709

(1,199)2,509

Operating revenue
Operating revenue to outside customers
Intersegment transfers

Notes: 1. Adjustment in segment income of ¥ -1,199 million includes company-wide expenses of ¥ -1,204 million, which are not allocatedto the respective reportable segments. Company-wide expenses consist mainly of the expenses not assignable to neither of thereportable segments for administrative departments of the Company and some of its consolidated subsidiaries.
2. Segment income is adjusted to coincide with operating income as recorded on the consolidated quarterly statements of income.

This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between thistranslated document and the Japanese original, the original shall prevail.

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