Consolidated Financial Results
for the First Quarter Ended June 30, 2009
August 5, 2009The Sumitomo Warehouse Co., Ltd.
Stock Code:9303

Stock Exchange Listings:

Tokyo and Osaka

URL:

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

Representative :Shoichi Abbe, President

Contact Responsibility:

Soji Yagi, Executive Officer, General Manager,
Finance & Accounting Department

Phone Number:+81 6 6581 1183

Starting date of dividend payment:―Date of the filing of the Quarterly Report:

August 6, 2009

１．Consolidated Financial Results for the First Quarter Ended June 30, 2009 (April 1, 2009-June 30, 2009)
Figures are rounded down to the nearest million yen, except per share figures.
(1) Consolidated Results of Operations
Operating revenue％

Millions of yen(％: change from the previous year)

Operating income％

Millions of yen

Ordinary income

Net income％Millions of yen％

Millions of yen

Three months ended June 30, 2009

28,901（15.2）

1,575(14.0)

1,910(20.3)

1,115(25.5)

Three months ended June 30, 2008

34,097－

1,833－

2,396－

1,496－

Net income per share
Yen

Dilutive Net Incomeper shareYen

Three months ended June 30, 2009

6.25

－

Three months ended June 30, 2008

7.90

7.86

(2) Consolidated Financial Position
Total assets

Net assets

Equity ratio

Net asset per share

Millions of yen

Millions of yen％

Yen

As of June 30, 2009

229,288

112,34847.1

605.92As of March 31, 2009

216,097104,22146.3

560.96

Notes: Equity
First quarter ended June 30, 2009 : 108,095 million yen
Year ended March 31, 2009 : 100,075 million yen

2．Dividends
Dividends per share
Third Quarter
ended
Yen

First Quarter
endedYen

Second Quarter
endedYen

Year ended March 31, 2009－

5.00

－

5.00

10.00

Year ending March 31, 2010

－
5.00

－

5.00

10.00

Year ending March 31, 2010(Forecast)
Notes: Revision of cash dividend forecast for this period : None

-1-Year-end

AnnualYenYen

3. Forecasts for the Year Ending March 31, 2010 (April 1, 2009-March 31, 2010)
Operating revenue
Millions of yen％

Operating income
Millions of yen％

Ordinary income％

Millions of yen(%: change from the previous year)
Net income
Net income
per share
Millions of yen％

Yen

Six months

59,500(14.4)

2,900(24.9)

3,100(28.7)

1,600(30.2)

8.97

Full year

119,000(9.8)

6,300(11.6)

6,600(15.0)

3,500

109.4

19.62

Note: Revision of forecasts for this period: None

4. Other(1) Changes of significant subsidiaries during the period (change of specified subsidiaries that affected the scope of consolidated
reporting): None
(2) Adoption of simplified accounting methods and special accounting methods for quarterly consolidated financial statements: Yes(3) Changes of accounting policies applied, procedures and disclosures for presenting consolidated financial statement
Changes by revision of accounting standard: NoneChanges other than the above: None(4) Number of shares issued (common stock)
Number of shares issued at the end of the period (including treasury stock) :As of June 30, 2009 : 195,936,231 shares
As of March 31, 2009 : 195,936,231 shares
Number of treasury stocks at the end of the period :As of June 30, 2009 : 17,535,440 shares
As of March 31, 2009 : 17,534,066 shares
Average number of shares issued at the end of the period :As of June 30, 2009 : 178,401,015 shares
As of June 30, 2008 : 189,374,538 shares

Note:
These forecasts are based on information currently available and certain assumptions judged to be reasonable. The Company’s actual
results may differ materially from those discussed in these 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 June 30, 2009

As of March 31, 2009

Cash and deposits

18,364

15,781

Notes and operating accounts receivable

14,62815,051

44

187

207

Real estate for sale in process－3

Work in process

6178

Deferred tax assets

747875

3,808

3,866(76)(79)

37,72635,789Buildings and structures, net

66,41067,259Machinery, equipment and vehicles, net

4,482

4,710

741

732

46,42746,420Construction in progress

662

613

Other, net

136

118,738

119,744

Goodwill

2,355

2,436

Leasehold right

6,220

6,162

Software

2,172

2,277

Other

636

599

11,385

11,477

Investment securities

53,80941,393Long-term loans receivable

1,037

1,062

333

348

Other

6,519

6,545

Allowance for doubtful accounts

(263)

(263)

Total investments and other assets

61,43749,086

191,561

180,308229,288

216,097

AssetsCurrent assets

Short-term investment securities
Real estate for sale

OtherAllowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment

Tools, furniture and fixtures, netLand

Total property, plant and equipment
Intangible assets

Total intangible assets
Investments and other assets

Deferred tax assets

Total noncurrent assets
Total assets-3-(Millions of yen)
As of June 30, 2009

As of March 31, 2009

Notes and operating accounts payable-trade

8,409

8,578

Short-term loans payable

11,451

11,196

Income taxes payable

839

317Provision for bonuses

1,041

1,450

Other

4,901

4,733

Total current liabilities

26,643

26,276Long-term loans payable

58,45558,861

Deferred tax liabilities

14,529

9,607

Provision for retirement benefits

3,422

3,254

87

90

12,971

12,939829

846

90,29585,599116,939

111,876

Capital stock

21,822

21,822

Capital surplus

19,177

19,177Retained earnings

62,201

61,978Treasury stock(9,123)(9,122)

Total shareholders' equity

94,07893,855

14,971

7,656

(4)

(16)

Foreign currency translation adjustment(950)(1,419)Total valuation and translation adjustments

14,017

6,219

6464

Minority interests

4,188

4,081

Total net assets

112,348

104,221229,288

216,097

Liabilities
Current liabilities

Noncurrent liabilities

Provision for directors' retirement benefits
Long-term deposits received
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity

Valuation and translation adjustments
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Subscription rights to shares

Total liabilities and net assets-4-(2) Consolidated quarterly statements of income(Millions of yen)Three months ended
June 30, 2008

Three months ended
June 30, 2009

Warehouse income

4,881

4,574

Harbor transportation income

9,639

7,740

International transportation income

7,343

5,255

Land transportation income

6,991

5,990

Rent income of warehouse and logistics facilities

1,344

1,360

Operating revenue

Rent income of real estate

2,466

2,473

Other

1,431

1,505

Total operating revenue

34,09728,901

Cost of sales

20,302

15,891

Personal expenses

4,118

4,034

Rent expenses

1,996

1,953

Taxes and dues718538

Depreciation

1,391

1,454

Other

1,866

1,564

Total operating cost

30,39325,436

Operating gross profit

3,703

3,465

Salaries and allowances and welfare expenses

937

931

Provision for bonuses

192

188

Retirement benefit expenses

60

66

Amortization of goodwill

81

81

Other

598

621

1,870

1,889

1,833

1,575

Interest and dividends income

736

488

Equity in earnings of affiliates

4752

Operating cost

Selling, general and administrative expenses

Total selling, general and administrative expenses
Operating income
Non-operating income

Other

4559

Total non-operating income

829

600

Interest expenses

215

225

Other50

40

Total non-operating expenses

265

266

2,396

1,910

Non-operating expenses

Ordinary income-5-(Millions of yen)Three months ended
June 30, 2008

Three months ended
June 30, 2009－60

Extraordinary loss
Loss on retirement of noncurrent assets
Loss on valuation of investment securities

41

33

Total extraordinary losses

41

93

2,355

1,817

Income taxes-current

630

603

Income taxes-deferred

168

54

Total income taxes

799

657

Minority interests in income

60

44

1,496

1,115

Income before income taxes and minority interests

Net income-6-(3) Consolidated quarterly statements of cash flows(Millions of yen)Three months ended
June 30, 2008

Three months ended
June 30, 2009

Income before income taxes and minority interests

2,355

1,817

Depreciation and amortization

1,464

1,602

81

81

Increase (decrease) in provision

(310)

(246)

Interest and dividends income

(736)

(488)

Interest expenses

215

225

Equity in (earnings) losses of affiliates

(47)

(52)

Loss on retirement of property, plant and equipment－60

Net cash provided by (used in) operating activitiesAmortization of goodwill

Loss (gain) on valuation of investment securities

4133

Decrease (increase) in notes and accounts receivable-trade

15490

Increase (decrease) in notes and accounts payable-trade

(88)

(198)

Other, net

(62)

745

Subtotal

2,927

4,069

Interest and dividends income received

736

494

Interest expenses paid

(328)

(382)

Income taxes paid

(2,186)(230)

Net cash provided by (used in) operating activities

1,148

3,950

Payments into time deposits(205)(1,560)

Proceeds from withdrawal of time deposits

268

60

Purchase of property, plant and equipment(3,747)

(397)

913

Purchase of intangible assets

(551)

(89)

Purchase of investment securities

(21)

(9)

Payments of loans receivable

(258)

(43)

Collection of loans receivable

1731

Other, net

(30)

(6)

(4,520)(2,001)

Increase in short-term loans payable

2,035

3,034

Decrease in short-term loans payable(1,510)(2,731)

Proceeds from long-term loans payable

7,400

100

Repayment of long-term loans payable

(572)

(554)

(2,286)－Cash dividends paid

(894)

(888)

Other, net(27)(51)4,144(1,092)

Net cash provided by (used in) investing activities

Proceeds from sales of property, plant and equipment

Net cash provided by (used in) investing activities
Net cash provided by (used in) financing activities

Purchase of treasury stock

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

(414)

216

Net increase (decrease) in cash and cash equivalents

358

1,072

Cash and cash equivalents at beginning of period

11,718

14,669Cash and cash equivalents at end of period

12,076

15,741-7-(4) Segment Informationa. Information by operational segment
Three months ended June 30, 2008

(Millions of yen)
Corporate

Logistics

Real Estate

Total

31,5872,510

34,097－34,097－24

24(24)－

31,587

2,535

34,122(24)

34,097

1,363

1,538

2,902

(1,069)1,833& Elimination

Consolidated

Operating revenue① Operating revenue to outside customers② Intersegment transfers
Total operating revenue
Operating income
Three months ended June 30, 2009

(Millions of yen)
Logistics

Real Estate

Total

26,3782,523

28,901

Corporate& Elimination

Consolidated

Operating revenue① Operating revenue to outside customers② Intersegment transfers
Total operating revenue
Operating income－28,901

25759(59)－26,3802,580

28,961(59)28,901

1,187

1,526

2,714(1,138)

1,575

Notes:
Segment
Logistics

Main operations
Warehousing (stock operations, bonded cargo handling)
Harbor transportation, Customs clearance

Real Estate

International multimodal transportation, Air cargo agent
Land transportation
Office space and land leasingb. Information by geographic segment
Three months ended June 30, 2008

(Millions of yen)JapanOthers

Total

31,035

3,061

34,097

Corporate& EliminationConsolidated

Operating revenue① Operating revenue to outside customers② Intersegment transfers
Total operating revenue
Operating income－

34,097

262

1,236

1,498

(1,498)－31,297

4,298

35,596(1,498)34,097

2,696

205

2,902

(1,069)1,833

Three months ended June 30, 2009

(Millions of yen)
CorporateJapan

OthersTotal

26,7402,161

28,901－

28,901

154

873

1,027

(1,027)－

26,895

3,034

29,929(1,027)28,901

2,677

37

2,714

(1,138)

1,575& Elimination

Consolidated

Operating revenue① Operating revenue to outside customers② Intersegment transfers
Total operating revenue
Operating income

Notes: “Others” consists of Asia, Europe and North America.

c. Overseas operating revenue
The Companies’ overseas operating revenue, which represents operating revenue to customers outside Japan, was immaterial. Accordingly,
overseas operating revenue was not disclosed.

-8-