This document is a translation of the Japanese financial statements and is not in conformity with accounting principles of the United States.

SENKO Co., Ltd.

Summary of Financial Statements for the First Quarter of the Fiscal Year Ending March 31, 2013
[Japan GAAP]
July 31, 2012
Name of Listed Company :Code Number :SENKO Co., Ltd.
9069

Stock Listed on : the First Section of the Tokyo Stock Exchange
and Osaka Securities Exchange
URL http : //www.senko.co.jp
Representative :Title : President
Name : Yasuhisa Fukuda
Inquiries :Title : Executive Officer, Public Relations
Name : Noburoh SasakiTel. (06) 6440-5155
Scheduled Date of Issue of Financial Report :August 9, 2012
Scheduled Date of Dividend Paid : －Supplemental Information Materials :None

Scheduled Date of Quarterly Information Meeting :None

1. Consolidated Operating Results for the First Quarter Ending March 2013 (From April 1, 2012 to June 30, 2012)(1) Consolidated Operating Results

Note : Amounts less than one million yen have been rounded down.
Operating revenues

Operating income

Million yen%

Million yen%

Million yen%

Million yen%First quarter ending March 31, 2013

71,758

14.5

2,215

9.02,285

16.5

1,286

24.0

First quarter ended March 31, 2012
(Note) Comprehensive income :First quarter ending March 31, 2013

62,658

6.4

2,032

37.3

1,961

28.5

1,037

58.4

1,078 million yen (3.4%)

Ordinary income

Net income

First quarter ended March 31, 2012

1,042 million yen (58.5%)

Net income
Diluted net income
per shareper share
Yen
YenFirst quarter ending March 31, 2013

10.22

9.27

First quarter ended March 31, 2012

8.24

7.48

(2) Consolidated Financial Position
Total assets
First quarter ending March 31, 2013

Net assets

Equity ratioNet assets per share

Million yen

Million yen%

Yen

200,906

63,60630.7

490.4863,27430.3

488.25

Fiscal year ended March 31, 2012
202,847(Reference) Shareholders’ equity :First quarter ending March 31, 2013 61,714 million yen

Fiscal year ended March 31, 2012 61,424 million yen

2. Dividends
First quarter
Yen

Second quarter
Yen

Annual dividend
Third quarter
Yen

Fiscal year ended March 31, 2012

－

6.00

－

Fiscal year ending March 31, 2013－

Year-end

TotalYen

Yen

6.00

12.00

Fiscal year ending March 31, 2013

6.00
6.00
12.00
－(Forecast)(Note) Change in the estimation of dividend for the fiscal year in this period : None(Note) Dividends include a ¥1 commemorative dividend for the end of second quarter and year-end of fiscal year ended March 31, 2012
3. Forecast of Consolidated Operating Results for the Year Ending March 2013 (From April 1, 2012 to March 31, 2013)(Percentage figures represent year on year changes)
Net income perNet income
share% Million yen% Million yen%Yen

Operating revenues Operating income
Million yen% Million yen

First half ending September 2012

144,000

13.54,35014.4

4,250

16.3

2,100

27.6

16.69

Fiscal year ending March 2013

300,000

11.0

10,20023.3

10,000

20.0

5,000

43.7

39.74

(Note) Change in the forecast made in this period : None.

Ordinary income

4. Notes(1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries associated with change in scope ofconsolidation) : None
(2) Use of accounting methods specifically for the preparation of the quarterly consolidated financial statements : None
(3) Changes in accounting principles and estimates, and retrospective restatement(a) Changes due to revision of accounting standards : Yes(b) Changes other than in (a) : None(c) Changes in accounting estimates : Yes(d) Retrospective restatement : None(Note) Changes to be stated in the section “Changes in significant matters providing the basis for preparing consolidated financialstatements”(4) Shares outstanding (Common shares)(a) Shares outstanding (including treasury stocks)
As of June 30, 2012

128,989,476 shares

As of March 31, 2012

128,989,476 shares

3,165,024 shares

As of March 31, 2012

3,183,467 shares(b) Treasury stock
As of June 30, 2012(c) Average number of shares (quarterly consolidated cumulative period)
Period ended June 30, 2012

125,824,669 shares

Period ended June 30, 2011

125,814,771 shares*Information concerning quarterly review procedure
This quarterly financial report is not subject to the quarterly review procedure prescribed by the Financial Instruments and Exchange Law.
The review procedure prescribed by the Financial Instruments and Exchange Law for the quarterly consolidated financial statements had
not been completed when this quarterly financial report was released.
*Cautionary statement regarding forecasts of operating results and special notes
Forward-looking statements in these materials are based on information available to management at the time this report was preparedand assumptions that management believes are reasonable. Actual results may differ significantly from these statements for a number ofreasons. For information about the assumptions used for forecasts and precautions concerning the use of forecasts, please see“Forecast for Fiscal Year Ending March 2013” on page 3.

Index to accompanying materials

2

1．Results of Operations and Financial Condition(1) Results of operations

2(2) Financial condition

2(3) Forecast for fiscal year ending March 201333

2．Other Information(1) Changes in significant subsidiaries

3(2) Use of accounting methods specifically for the preparation of the quarterly consolidated financial statements

3(3) Changes in accounting principles and estimates, and retrospective restatement

3

3．Consolidated financial statements

4(1) Consolidated balance sheets

4(2) Consolidated statements of (comprehensive) income

6

Consolidated statements of income
For the three months ended June 30, 2011 and 20126

Consolidated statements of comprehensive income
For the three months ended June 30, 2011 and 2012

71

1.

Results of Operations and Financial Condition(1)

Results of Operations
In the first quarter of the fiscal year ending in March 2013 (April 1, 2012 to June 30, 2012), the Japanese economy recovered at
a moderate pace due primarily to public-works expenditures and other demand associated with earthquake recovery activities
and to strong consumer spending backed by an improvement in consumer sentiment.
In the logistics industry, there was a recovery in cargo volume following the steep downturn after the Great East Japan
Earthquake and an improvement in the volume of cargo handled along with a slow recovery in industrial output andprivate-sector capital expenditures.
The current fiscal year is the final year of the Senko Group’s three-year medium-term business plan that started in April 2010
and uses the corporate slogan “Moving Global.” In this final year of the plan, we are taking many actions in Japan and overseas.
In Japan, the Great East Japan Earthquake has caused companies that ship cargo to spread out their manufacturing andinventory storage operations over more locations and to increase the number of suppliers of raw materials and components. TheSenko Group is making preparations to establish new logistics facilities in Hokkaido, the Kanto region, the Chubu region, theKansai region and other areas of Japan. More facilities will enable us to meet logistics needs associated with these activities byshippers as well as to capture new customers by conducting aggressive activities to increase sales. Overseas, we are pursuing
growth in many ways, such as by signing new agreements to perform logistics operations for customers in the Chinese
provinces of Liaoning and Jiangsu.
First quarter consolidated operating revenues increased 14.5% from one year earlier to ¥71,758 million. Higher revenues wereattributable mainly to aggressive sales activities to add new customers, the contributions from large logistics facilities that werecompleted in the previous fiscal year, and the contributions from Smile Corp. and Chugoku Piano Transport Co., Ltd. whichbecame subsidiaries in the previous fiscal year. Earnings benefited from the growth in sales, the new subsidiaries andcost-cutting measures. Operating income increased 9.0% to ¥2,215 million, ordinary income increased 16.5% to ¥2,285 million,
and net income increased 24.0% to ¥1,286 million.
First quarter business segment performance was as follows.
Distribution
In the housing distribution business there was an increase in cargo volume involving solar panels and in the distribution logistics
business there was an increase in cargo volume for general merchandise stores because of the start of operations at large
logistics facilities in the previous fiscal year. Chugoku Piano Transport Co., Ltd., which became a subsidiary in the previous fiscalyear, also contributed to first quarter performance. As a result, segment operating revenues increased 2.4% from one year
earlier to ¥56,085 million.
Commerce and Trade
Segment performance benefited primarily from the acquisition of Smile Corp. in the previous fiscal year and higher revenues inthe trade business and petroleum marketing business. The result was a 104.7% increase in segment operating revenues fromone year earlier to ¥14,951 million.
OthersSegment operating revenues increased 18.7% from one year earlier to ¥721 million main chiefly because of an increase in dataprocessing sales.

(2)

Financial Condition
Total assets
Total assets at the end of the first quarter were ¥200,906 million, down ¥1,941 million from the end of the previous fiscal year.
The main reason was a ¥1,811 million decrease in current assets due to a decline in notes and accounts receivable.
Liabilities
Liabilities decreased ¥2,273 million from the end of the previous fiscal year to ¥137,299 million. Long-term loans payable
increased ¥4,974 million but there decreases of ¥3,388 million in notes and operating accounts payable, ¥1,553 million in
short-term loans payable and ¥1,973 million in income taxes payable.
Net assets
Net assets increased ¥332 million from the end of the previous fiscal year to ¥63,606 million. Retained earnings increased ¥527
million and there were decreases of ¥151 million in valuation differences on available-for-sale securities and ¥136 million indeferred gains or losses on hedges. The equity ratio increased by 0.4 percentage points to 30.7%.

2

(3)

Forecast for Fiscal Year Ending March 2013
There are many sources of uncertainty regarding the Japanese economy, including the debt crisis in Europe, worries aboutslowing economic growth in the United States, China and other countries, the yen’s strength and Japan’s electricity shortage.
Despite these concerns, Japan’s economy is expected to continue recovering slowly for the time being because of the full-scale
emergence of earthquake recovery demand and healthy consumer spending.
In this environment, based on its medium-term vision, the Senko Group seeks to coexist with society and increase the commitmentof employees to growth with the goal of operating as a “logistics and information organization” that provides high-quality and highcost-performance services on a global scale.
Since operating revenues and earnings thus far in the fiscal year are generally as planned, there are no revisions to the first half
and fiscal year forecasts that were announced on April 26, 2012.

2.

Other Information(1)

Changes in significant subsidiaries
None

(2)

Use of accounting methods specifically for the preparation of the quarterly consolidated financial statements
None

(3)

Changes in accounting principles and estimates, and retrospective restatement
In conjunction with a revision in Japan’s Corporate Income Tax Law, Senko and its consolidated subsidiaries in Japan haverevised the method used for depreciation starting with the first quarter of the current fiscal year. The revised depreciation method,which is based on the amended Corporate Income Tax Law, is applied to property and equipment purchased on or after April 1,
2012. This revision had only a negligible effect on earnings.

33.

Consolidated financial statements(1)

Consolidated Balance Sheets(Unit : Millions of Yen)
As of March 31, 2012

As of June 30, 2012

AssetsCurrent assets
Cash and deposits

13,35412,647

Notes and accounts receivable

40,68839,532Merchandise

4,087

4,036

Real estate for sale

33

Work in process

150

248

Supplies

188

143

Other

5,834

5,914

Allowance for doubtful accounts

(53)

(83)

64,25462,422

Buildings and structures (net)45,80645,554

Land

39,837

39,839Other (net)10,495

10,329Total property, plant and equipment

96,13995,722

3,730

3,656

Other

3,505

3,734

Total intangible assets

7,235

7,391

Guarantee deposits

8,810

8,930

Deferred tax assets

4,000

4,147

Other

22,68722,551

(280)

(278)

Total current assets
Noncurrent assets
Property, plant and equipment

Intangible assets
Goodwill

Investments and other assets

Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

4

35,21735,349138,592

138,463

202,847

200,906

(Unit : Millions of Yen)
As of March 31, 2012

As of June 30, 2012

Liabilities
Current liabilities
Notes and operating accounts payable- trade32,297

Current portion of convertible bonds

4,900

28,9094.900

Short-term loans payable

13,936

12,382

Income taxes payable

2,281307

Provision for bonuses

3,125

1,955

Provision for directors’ bonuses

172

39

Reserve for loss on disaster

43

33

Other

11,327

12,347

Total current liabilities

68,08460,875

Noncurrent liabilities
Bonds payable

12,00012,000Long-term loans payable

40,42245,396

Provision for retirement benefits

9,468

9,507

Provision for directors’ retirement benefits

66

57

Provision for special repairs

5256

Asset retirement obligations

316

318

Other

9,162

9,088

Total noncurrent liabilities

71,48976,424

139,573

137,299

Capital stock

20,521

20,521Capital surplus

18,782

18,782

Total liabilities
Net assets
Shareholders’ equity

Retained earnings

22,901

23,428Treasury stock(1,049)(1,043)

Total shareholders’ equity

61,15561,688157

5

Deferred gains or losses on hedges

156

19

Foreign currency translation adjustment

(44)

0

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

Total accumulated other comprehensive income
Subscription rights to shares
Minority interests
Total net assets
Liabilities and net assets

5269

25149

142

1,700

1,749

63,27463,606

202,847

200,906

(2)Consolidated Statements of (Comprehensive) Income(Consolidated Statements of Income)(For the three months ended June 30, 2011 and 2012)(Unit : Millions of Yen)
Three months ended

Three months ended
June 30, 2011

June 30, 2012

(April 1, 2011 –June 30, 2011)(April 1, 2012 –June 30, 2012)

Operating revenues

62,65871,758

Cost of sales

57,08164,561Gross profit

5,577

7,196

Selling, general and administrative expenses

3,544

4,980

Operating income

2,032

2,215

Interest income

4452

Dividends income

220240

Other105136

Total non-operating income

369

429

286

296

Non-operating income

Non-operating expenses
Interest expenses
Other

153

63

Total non-operating expenses

440

360

1,961

2,285

Ordinary income
Extraordinary loss
Loss on retirement of noncurrent assets

46－

Loss on cancellation of lease contracts

20－

Total extraordinary loss

66－

Income before income taxes

1,895

2,285

Income taxes- current

137

271

Income taxes- deferred

742

705

Total income taxes

880

977

Income before minority interests

1,015

1,308

Minority interest in income or loss

(22)

22

1,037

1,286

Net income6(Consolidated Statements of Comprehensive Income)(For the three months ended June 30, 2011 and 2012)(Unit : Millions of Yen)
Three months ended

Three months ended

Income before minority interests

June 30, 2011

June 30, 2012

(April 1, 2011 –June 30, 2011)(April 1, 2012 –June 30, 2012)

1,015

1,308

Other comprehensive income
Valuation difference on available-for-sale securities

23(153)

Deferred gains or losses on hedges

4(145)

Foreign currency translation adjustment

064

Share of other comprehensive income of associates accounted forusing equity method(0)4Total other comprehensive income
Comprehensive income27(229)

1,042

1,078

1,058

1,042

(15)

35

Comprehensive income attributable toComprehensive income attributable to owners of the parent
Comprehensive income attributable to minority interests7