2 0 1 2
ANNUAL REPORTFor the year ended March 31, 2012

Nittetsu Mining Co., Ltd.

Financial Highlights

Message from the Management

Consolidated

Operating Conditions and Consolidated Results

Nittetsu Mining Co., Ltd. and Consolidated Subsidiaries
Years ended March 31
Millions of yen

Thousands of
US dollars

During the fiscal year ended March 31, 2012, Japan’s economy began to bounceback from the paralysis seen in the wake of the Great East Japan Earthquake.

2012

2011

2010

2009

2008

2012

¥ 101,505¥ 107,741¥ 93,726¥ 111,695¥ 126,545$ 1,235,010

3,024

1,638

1,681

(462)

3,894

36,793

132,470

136,145

144,066

134,083

187,052

1,611,755

For the year
Net Sales

It failed to see a full-fledged recovery, however, due to the slowdown in the global

Net Income (Loss)
At year-end
Total Assets

yen and the major flooding in Thailand.
Amid these challenging economic conditions, the Nittetsu Mining GroupYen

US dollars

Per share data
Net Income (Loss) per Shareeconomy caused by financial turmoil in Europe, the prolonged appreciation of theposted net sales of ¥101,505 million, down 5.8% year on year, owing to a dropin sales volume of electrolytic copper in the Metallic Minerals Division anda downturn in sales of limestone, the mainstay product of the Non-Metallic¥ 36.32¥ 19.68¥ 20.19¥ (5.55)¥ 46.75$ 0.44Minerals Division. Nevertheless, ordinary income increased by 42.6% year on yearto ¥6,744 million, and net income surged by 84.5% year on year to ¥3,024 million
thanks to a solid earnings recovery in the Metallic Minerals Division.

Non-Consolidated
Nittetsu Mining Co., Ltd.
Years ended March 31
Thousands of
US dollars

Millions of yen

2012

2011

2010

2009

2008

2012

Net Sales¥ 86,928¥ 94,076¥ 77,086¥ 91,402¥ 104,996$ 1,057,656

Net Income

2,754

1,258

691

33

3,287

33,518114,493

119,919

126,927

116,582

157,406

1,393,034

For the year

At year-end
Total Assets

Yen

US dollars

Per share data
Net Income per Share¥ 33.08¥ 15.11¥ 8.30¥ 0.40Note: US dollar amounts are translated from yen, for convenience only, at the rate of ¥82.19=US$1.

¥ 39.47$ 0.40Consolidated Business Results by Segment
Mineral Resources Group
Non-Metallic Minerals Division
Net sales of the Non-Metallic Minerals Division increased by 0.6%, or ¥296 million,
over the previous fiscal year to ¥46,936 million, thanks to robust sales of crushedstone and other products that offset a fall in sales of the division’s mainstay
product, limestone.
Operating income fell by 18.2%, or ¥788 million, year on year to ¥3,550 million,
owing to reduced profits from limestone as well as weaker performance by
consolidated subsidiaries.

Metallic Minerals Division
Net sales of the Metallic Minerals Division declined by 13.3%, or ¥6,714 million,
over the previous fiscal year to ¥43,767 million, due to a downturn in the sales
volume of both electrolytic copper and electrolytic gold as well as the effects

Contents
1

Message from the Management

3

Consolidated Financial Information

4

Balance Sheets

6

Statements of Income

7

Statements of Comprehensive Income / Statements of Cash Flows8

Notes to Consolidated Financial Statements

11

Corporate Informationof the yen’s appreciation.
Operating income, however, increased by 390.2%, or ¥2,464 million, year on
year to ¥3,096 million, buoyed by increased production at the Atacama Copper
Mine and improved selling conditions for copper ore thanks to the improvement intrading conditions for copper prices.

Machinery & Environmental Engineering Group
The Machinery & Environmental Engineering Group saw net sales rise 0.7%, or¥55 million, year on year to ¥8,147 million because it was able to maintain sales at

1

Message from the Management

Consolidated Financial Information
Nittetsu Mining Co., Ltd. and Consolidated Subsidiaries

roughly the level of the previous fiscal year. However, operating income dipped by

Net Sales by Business Segment(Year ended March 31, 2012)
Real Estate

0.6%, or ¥4 million, over the previous fiscal year to ¥695 million, owing to an
Net sales(millions of yen)

Business segment

expansion in logistics costs in the Environmental Engineering Division.

Non-Metallic Minerals

Real Estate GroupThe Real Estate Group saw net sales rise 5.0%, or ¥125 million, over the previous% change fromprevious fiscal year

¥ 46,936

Metallic Minerals¥ 43,767

Machinery & Environmental
Engineering¥

Real Estate¥% of total
net sales

0.6

Machinery &Environmental
Engineering

46.3(13.3)

43.1

0.7

8.0

Non-Metallic
Minerals

Sales
Distribution
Ratio

fiscal year to ¥2,653 million thanks to the full-year operation of newly leased
properties. Operating income was also up, by 9.2%, or ¥117 million year on year,

8,147

Metallic Minerals

to ¥1,396 million.

Total

Capital Expenditures, Financing and Other Related Matters

2,653

5.0

2.6

¥ 101,505

(5.8)

100.0

Capital expenditures of the Nittetsu Mining Group during the fiscal year ended
March 31, 2012, totaled ¥4,651 million, an increase of 18.5% year on year. There
were no major outlays during the fiscal year under review.

Breakdown of Net Sales(Years ended March 31)(Millions of yen)

Challenges Facing the Group
Business segment

Net sales% of total net
sales¥ 24,337

24.0¥ 25,004

23.2

Crushed stone

4,489

4.4

4,196

3.9

292

and others

18,10917.917,43816.2

671

Sub-total

46,93646.3

46,64043.3

296Electrolytic copper

28,67628.3

31,41929.2(2,742)

Copper concentrate

4,109

4.0

3,844

3.6

265

Others

10,98010.8

15,21714.0(4,237)

Sub-total

43,76743.1

50,481

46.8(6,714)¥ 90,703

89.4¥ 97,121

90.1¥ (6,417)

Industrial machinery

3,895

3.8

3,807

3.5

87

Environmental products

4,252

4.2

4,284

4.0

(31)

8,147

8.0

8,091

7.5

2,653

2.6

2,528

2.4

125

¥ 101,505

100.0¥ 107,741

100.0¥ (6,235)

Limestone, calcium
carbonate

Nittetsu Mining Group will remain challenging because of a further increase in the
crude oil price, the ongoing appreciation of the yen, and the tight supply-demand

Non-Metallic
MineralsAncillary products

the economy.
The Nittetsu Mining Group will respond to this operating environment by
striving to enhance its business performance. We will do this by improving andreinforcing our management structure, including further boosting sales, raising

MineralResources

productivity and cutting costs. At the same time, we will work to improve business

Metallic
Minerals

performance through initiatives to expand and reinforce the operating base of ourmainstay mineral resource business. Furthermore, we will continue with ourcommitment to pursue eco-friendly business activities through greenery initiatives
at mined sites and compliance with ISO14001 best practices.

Total

We extend our appreciation to all shareholders and ask for your continued
support and cooperation.

Machinery &Environmental
Engineering

June 2012

Rokuro Matsumoto
Representative Director and President

2

Total
Real Estate

Increase(decrease)

Net sales% of total net
sales

The future outlook indicates that the operating environment surrounding thebalance for electricity, which will likely offset the gradual recovery expected in

2011

2012

Major products

Real estate rentals and sales
Total

¥

¥

¥

¥

(667)

55

3

Consolidated Financial Information
Nittetsu Mining Co., Ltd. and Consolidated Subsidiaries

Balance Sheets
As of March 31, 2012 and 2011

AssetsLiabilities and Net Assets
Millions of yen

Thousands of US dollars

2011

2012

Millions of yen

2012

Current Assets

Thousands of US dollars

2011

2012

2012

Current Liabilities

Cash and deposits¥ 14,419¥ 11,911$

175,435

Notes and accounts receivable—trade22,26622,350270,918

Lease receivables and investment assets

5,308

5,617

64,588

Short-term investment securities

30

51

371

Merchandise and finished goods

4,685

3,413

57,004Work in process

8,393

10,568102,124

Raw materials and supplies

1,220

1,199

14,854

Deferred tax assets

417

298

5,083

Other

941

1,632

11,453

Allowance for doubtful accounts

(26)

(39)

(323)

57,65757,003

701,509

Notes and accounts payable—trade

7,601¥ 11,202

Short-term loans payable

10,814

7,973

131,573

Current portion of bonds

2,000

—

24,333

446

376

5,437

1,345

705

16,368

Lease obligations
Income taxes payable

2

5

28

732

746

8,912
302

Provision for directors’ bonuses

24

26

Provision for shareholders’ benefits

12

13

157

Provision for environmental safety measures

52

—

638

Asset retirement obligations

215

249

2,627

8,368

7,125

101,824

31,61828,424

384,694

—

2,000

—

10,834

15,645

131,819991

508

12,057

Deferred tax liabilities

6,642

8,457

80,823

Provision for retirement benefits

1,188

1,073

14,456

81

78

993

Other

Noncurrent Liabilities
Long-term loans payable

Property, plant and equipment:

Lease obligations

Buildings and structures

20,757

21,951

252,558

Machinery, equipment and vehicles

5,712

6,362

69,500

Provision for directors’ retirement benefits

Land used for mining operations

2,991

2,924

36,395

Provision for environmental safety measures

12,519147,590

Construction in progress

1,273

709

15,492

369

335

4,496

43,23444,802526,033

Other

92,490

Provision for bonuses

Noncurrent Assets

12,130$

Deferred tax liabilities

Bonds payable

Land for general use

¥

154

225

1,877

Asset retirement obligations

2,904

2,974

35,333

Other

7,232

7,345

87,99530,02838,309365,357

61,646

66,733750,052

Capital stock

4,176

4,176

50,811

Capital surplus

6,149

6,149

74,825Retained earnings

53,87851,437655,541

(126)

(124)

(1,544)64,07861,639779,634

7,337

8,257

89,277(85)(86)(1,039)(1,917)(1,697)(23,327)

5,334

6,473

64,909Total Liabilities
Net Assets

Intangible assets

2,318

2,491

28,208Investments and Other Assets

Treasury stock

Investment securities

23,59425,974

287,074

Shareholders’ equity

Long-term loans receivable

1,193

1,236

14,523

Accumulated Other Comprehensive Income

387

422

4,719

4,529

4,678

55,113

Deferred tax assets
Other
Allowance for doubtful accounts

Total Assets

(446)

(464)

(5,427)29,25931,847356,002¥ 132,470¥ 136,145$ 1,611,755

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total Accumulated Other Comprehensive Income
Minority interests

1,410

1,299

17,158

Total Net Assets

70,82369,412

861,702

Total Liabilities and Net Assets¥ 132,470¥ 136,145$ 1,611,755

The accompanying notes are an integral part of these statements.
Totals may not add up due to rounding.

45

Consolidated Financial Information
Nittetsu Mining Co., Ltd. and Consolidated Subsidiaries

Statements of Income

Statements of Comprehensive Income

Years ended March 31, 2012 and 2011

Years ended March 31, 2012 and 2011
Millions of yen

Thousands of US dollars

2012

2011

2012

¥ 101,505¥ 107,741$ 1,235,010

Cost of Sales

77,99386,767

948,939

Selling, General and Administrative Expenses

16,223

15,848

197,389

Operating Income

7,288

5,124

88,681

Interest income

96

92

1,175

Dividends income

574

441

6,989

Net Sales

Non-Operating Income:Equity in earnings of affiliates

—

19

—

Other

189

293

2,302

860

846

10,467

Non-Operating Expenses:
Interest expenses

497

Equity in losses of affiliates
Other

Ordinary Income

565

6,053

145

—

1,771

760

674

9,258

1,404

1,240

17,083

6,744

4,730

82,065Extraordinary Income:Gain on sales of noncurrent assets

95

85

1,162

Adjusted amount of equipment damage rehabilitation costs

—

181

—

16

57

203

112

323

1,366

Loss on sales and retirement of noncurrent assets

371

201

4,514

Impairment loss

454

287

5,529

Settlement for occupational diseases

21

42

255

Litigation expenses

34

27

419

Loss on geothermal well drilling

—

180

—

Other

30

257

366

911

998

11,085

Other

Millions of yen

Thousands of US dollars

2012

2011

2012

¥ 4,181¥ 2,220$ 50,876(919)(2,506)(11,188)

0

82

11

(262)

(636)

(3,197)

(0)

6

(0)

Total other comprehensive income(1,181)(3,053)(14,374)

Comprehensive income

3,000

(833)

36,502Comprehensive income attributable to owners of
the parent

1,885(1,284)22,938Comprehensive income attributable to minority
interests¥ 1,114

Income before minority interests
Other comprehensive income:
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Share of other comprehensive income ofassociates accounted for using equity method¥451$ 13,563

The accompanying notes are an integral part of these statements.
Totals may not add up due to rounding.

Extraordinary Losses:

Income before Income Taxes

4,055

5,946

72,345

Income Taxes:
Income taxes—current

24,978Years ended March 31, 2012 and 2011
Millions of yen

Thousands of US dollars

2012

2011

2012

¥ 10,195¥ 7,932$ 124,052

Net cash used in investing activities(3,696)(3,768)(44,971)

Net cash used in financing activities(3,988)(6,627)(48,532)

Effect of exchange rate change on cash and cash equivalents

4

(109)

56

Net cash provided by operating activities

(288)

810

(3,509)

1,764

1,835

21,469

Income before Minority Interests

4,181

2,220

50,876

Net increase (decrease) in cash and cash equivalents

2,515(2,573)30,604

Minority Interests in Income

1,157

581

14,083

Cash and cash equivalents at the beginning of the year

11,721

14,295

142,620

36,793

Cash and cash equivalents at the end of the year

¥ 14,237¥ 11,721$ 173,225

Income taxes—deferred

Net Income
The accompanying notes are an integral part of these statements.
Totals may not add up due to rounding.

6

1,025

2,053

Statements of Cash Flows

¥

3,024

¥

1,638

$

The accompanying notes are an integral part of these statements.
Totals may not add up due to rounding.

7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements

Nittetsu Mining Co., Ltd. and Consolidated Subsidiaries
1. Scope of Consolidation(1) N umber of consolidated subsidiaries: 20 companies
Main consolidated subsidiaries:
Funao Mining Co., Ltd., Sociedad Contractual Minera
Atacama Kozan, Hokkaido Lime Co., Ltd., Nittetsu
Mining Consultants Co., Ltd., Nittetsu Kagoshima
Geothermal Co., Ltd., Nittetsukoukenzai Co., Ltd.,
Kobukuro Techno Co., Ltd.
Ai United Engineering Inc. was established in theyear ended March 31, 2012 and so is included in the
Company’s consolidated subsidiaries.

(2) N ames of principal unconsolidated subsidiaries
Shin Yaguki Mining Co., Ltd., Yaguki Aggregate Co., Ltd.
Reason for exclusion from scope of consolidation
The unconsolidated subsidiaries are small in scale,and their total assets, net sales, net income andretained earnings, etc., (commensurate with equity
holdings) do not have a material effect on the
consolidated financial statements.

2. Application of the Equity Method(1) N umber of affiliated companies accounted for by
the equity method:
1 company: Hibi Kyodo Smelting Co., Ltd.
(2) U nconsolidated subsidiaries (Shin Yaguki Mining Co.,
Ltd. and others) and an affiliated company (POLYTETSUKOREA Co., LTD.) not accounted for by the equity
method are excluded from the scope of application of
the equity method because they have no overallsignificance and their net income and retained
earnings (commensurate with equity holdings) would
have an immaterial effect on consolidated financial
statements even if they were excluded from eligibility
for the equity method.

3. Business Years of Consolidated Subsidiaries
Companies with account settlement dates different
from the consolidated account settlement date are as
follows:
Company Name
Settlement Date
Sociedad Contractual Minera
Atacama Kozan
December 31
Minera Nittetsu Chile Limitada December 31
The financial statements of the consolidated
subsidiaries as of the account settlement date areused. Necessary adjustments are made inconsolidation for significant transactions occurring
between then and the consolidated accountsettlement date.

calculated by the moving-average method).
Held-to-maturity securities are calculated by theamortized cost method (straight-line).
Other marketable securities:
Securities with fair market value:Valued at fair market value based on market
prices, etc., at the balance sheet date (valuationdifferences are directly charged or credited to net
assets, and cost of securities sold calculated by
the moving-average method).
Securities without fair market value:Valued at cost by the moving-average method.
(b) Derivatives
Market value method(c) Inventories
The standard for evaluation is the cost method (bookvalue devaluation method based on the decline inprofitability). The method of evaluation is the periodicaverage method or the first-in, first-out method,
depending on the product line or type of business.

(2) Method for depreciation and amortization ofsignificant depreciable assets(a) Property, plant and equipment (except for leaseassets)The Company and its domestic consolidated
subsidiaries primarily use the declining balancemethod. However, buildings acquired on or after April
1, 1998, excluding leasehold improvements andauxiliary facilities attached to buildings, aredepreciated using the straight-line method. Certain
structures (major mineshafts) and all mining land are
depreciated using the production output method.
Overseas consolidated subsidiaries primarily use thestraight-line method.
Estimated useful lives are as follows:
Buildings and structures: 5–60 years
Machinery, equipment and vehicles:
3–20 years(b) Intangible assets (except for lease assets)
For mining rights, the production output method isadopted. For others, the straight-line method isadopted. Software for internal use is amortized using
the straight-line method based on the usable period
in the company (5 years).
(c) Lease assets
Leased property under finance leases that do nottransfer ownership of the lease property arecomputed over the lease terms assuming noresidual value.

(3) A ccounting for significant reserves and allowances

4. Summary of Significant Accounting Policies(1) Valuation standard and method for significant
assets(a) Marketable securities
Securities designated for sale are evaluated by themarket value method (cost of securities sold is

8(a) Allowance for doubtful accounts
At the end of each fiscal year, the Company setsaside an allowance for doubtful accounts in theestimated unrecoverable amount, based on the
Company’s loss experience for general credit and on
the Company’s individual estimates of future

recoverability for specific accounts, including
doubtful accounts.
(b) Provision for bonuses
The Company and its domestic consolidated
subsidiaries set aside a reserve for provision forbonuses, calculated based on estimated payments tocover payment of bonuses to employees.
(c) Provision for directors’ bonuses
The Company and its domestic consolidated
subsidiaries set aside a reserve to match provision
for bonuses, calculated based on estimatedpayments to cover payment of bonuses to directors.
(d) Provision for retirement benefits
At the end of each fiscal year, the Company setsaside a reserve for provision for employees’
retirement benefits in an amount equal to the amountrequired to be paid at the balance sheet date, basedon the estimated amount of retirement benefit
obligations and pension plan assets at the balance
sheet date.
Calculation differences, which are prorated basedon the straight-line method according to a statednumber of years (13) within the average residual
employee service time, are expensed for the
consolidated fiscal year in which they occurred.
(e) Provision for directors’ retirement benefits
At the end of each fiscal year, certain domestic
consolidated subsidiaries set aside a reserve forprovision for retirement benefits for directors
according to internal company regulations.
(f) Provision for environmental safety measures
In accordance with the Special Measures Law for the
Promotion of Proper Disposal of PCB Waste (Law No.
65, June 22, 2001), the Company sets aside a
reasonable reserve in an amount equivalent to theestimated disposal expenses for stored PCB.
(g) Provision for shareholders’ benefits
The Company sets aside a reasonable reserve tocover payments for expenses of the shareholders’benefit program, in an amount equivalent to theestimated expenses.
(h) Other reserves
NITTETSUKOUKENZAI Co., Ltd. sets aside a reserve
to cover expenses required for repairs to undergo
periodic inspections under the Ship Safety Law, in an
estimated amount required based on the previous
special repair expenses.
Nittetsu Kagoshima Geothermal Co., Ltd. sets aside
a reserve to cover estimated expenses for periodic
repair of geothermal production transport equipment.

(4) S tandards for translation of significant foreign
currency denominated assets and liabilities into
Japanese yen
Current and non-current monetary accounts
denominated in foreign currencies are translated into
yen at the current exchange rates as of the balance

sheet date, and any translation difference isaccounted for as a profit or loss for the year.
All assets and liabilities of overseas consolidated
subsidiaries are translated at the rates of exchange in
effect at the overseas consolidated subsidiary’sbalance sheet date. All revenues and expenses ofoverseas consolidated subsidiaries are translated at
the average rates of exchange for the fiscal year.
Foreign currency translation adjustments are included
in “Valuation and translation adjustments” and“Minority interests” in the Net Assets section of the
Balance Sheet.

(5) Main hedge accounting methods(a) Hedge accounting method
The Company uses mainly deferred hedging.
However, under certain conditions, interest rate
swap transactions are accounted for according to
special conditions.
(b) Hedge instruments, hedge objects and hedge policy
The Company’s interest rate swap transactions arecarried out to avoid risk associated with loan interest
rate fluctuations. In addition, the Company trades
commodity futures to avoid the commodity pricefluctuation risk for non-ferrous metals inventory assets
and concludes forward contracts with customers forthe price of non-ferrous metals.
(c) Method of assessing the effectiveness of hedges
Over the period from the beginning of a commodity
future transaction to the point at which theeffectiveness is determined, the market fluctuationsof the hedged commodity and the market fluctuationsof the hedged instrument are compared andeffectiveness determined. However, interest rate
swap transactions are treated separately and areomitted from this effectiveness evaluation.

(6) O ther significant items for the presentation of theconsolidated financial statements(a) Calculation method for revenue from construction work
completed and costs of completed construction work
The percentage-of-completion method is used forconstruction contracts where the outcome of thesection in progress is deemed certain by the end of
the current consolidated fiscal year, while thecompleted-contract method is applied to all otherconstruction contracts. In addition, estimates of thestate of completion at the end of the current
consolidated fiscal year are calculated using thecost-to-cost method for construction projects using
the percentage-of-completion method.
(b) Accounting for consumption taxes, etc.
Consumption taxes and local consumption taxes are
not included in the consolidated financial statements.
(c) Calculation method for revenues from finance leasetransactions
Revenues and cost of sales are calculated at the timeof receiving lease payment.

9Notes to Consolidated Financial Statements

Outline

5. Notes to the Consolidated Balance Sheets(1) Collateral assets(Millions of yen)Tangible assets
Debt collateralized by the above
Short-term loans
Long-term loans
Guarantee deposits received
Total

As of March 31, 2012

¥ 1,033

Date of Establishment

321
714
10
1,046

(3) Guaranteed liabilities

Consolidated
company debt

¥ 207

¥ 36

Issued and Outstanding

Number of Shareholders

Metallic Minerals

349

83,523,195 shares

Machinery & Environmental Engineering247(including 256,507 shares of treasury stock)

The Master Trust Bank of Japan, Ltd. (trust account)2012

Sales to external customers
Inter-segment sales
Segment Revenue
Segment Profits% of total

Nittetsu Kogyo Shogakukai*
Millions of yen

Metallic
Minerals¥ 46,936
369
47,306¥ 43,767—
43,767

3,550

3,096

Machinery &Environmental
Engineering

Real Estate

Eliminations
andCorporate

Total¥ 8,147997
9,145¥ 2,653
34
2,688

¥—
(1,402)(1,402)¥ 101,505—
101,505

695

1,396

(1,451)

7,288

Real Estate

6,088

Nippon Steel Corporation

6. S egment Information

1,013

200,000,000 shares

Major Shareholders

Non-Metallic
Minerals

Mineral Resources
Non-Metallic Minerals

Authorized(Millions of yen)

Total guarantee

Number of Employees (Consolidated)

May 20, 1939

Common Stock(2) Accumulated depreciation of tangible assets: ¥115,674 million

Guaranteed liabilities

Corporate Information

Japan Trustee Services Bank, Ltd. (trust account)
Mizuho Corporate Bank, Ltd.
Sumitomo Mitsui Banking Corporation
CBNY DFA INTL SMALL CAP VALUE PORTFOLIOJapan Trustee Services Bank, Ltd. (trust account 9)
Nittetsu Kogyo Shareholding Association
The Bank of Tokyo-Mitsubishi UFJ, Ltd.

14.87
7.70
5.79
5.43
3.53
3.49
2.33
2.21
1.97
1.68

2

Corporate (shared)

90

Total

1,701

Number of Employees (Non-Consolidated)

634

Principal Lenders
Mizuho Corporate Bank, Ltd.
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Sumitomo Mitsui Banking Corporation*Non-profit corporation
Millions of yen

2011

Sales to external customers
Inter-segment sales
Segment Revenue
Segment Profits

Non-Metallic
Minerals

Metallic
Minerals¥ 46,640
274
46,914¥ 50,481—
50,481

4,339

631

Machinery &Environmental
Engineering

Real Estate

Eliminations
andCorporate

Total¥ 8,091924
9,016¥ 2,528
36
2,564

¥—
(1,235)(1,235)¥ 107,741—
107,741

700

1,279

(1,825)

5,124

Thousands of US dollars

2012

Sales to external customers
Inter-segment sales
Segment Revenue
Segment Profits

Non-Metallic
Minerals

Metallic
Minerals

Machinery &Environmental
Engineering

Real Estate

Eliminations
andCorporate

Total$ 571,077
4,498
575,576$ 532,511—
532,511$ 99,132
12,141
111,273$ 32,288
424
32,713$—(17,064)(17,064)$ 1,235,010—
1,235,010

43,20337,6708,468

16,996(17,657)

88,681Primary Businesses
As of March 31, 2012
Group

Major Products

Mineral Resources Non-Metallic Minerals
Limestone, dolomite, crushed stone, calcium carbonate, silica rock, quicklime,
hydrated lime, cement, gypsum, ready-mixed concrete and concrete products,
petroleum products, coal, LPG, chips for pulp, mineral water, specialty papers (fireretardant, calcium carbonate), granulates, handling and transportation of mineralproducts, technological consulting for mining and civil engineering, supply ofgeothermal steam and brine, others
Metallic Minerals
Electrolytic copper, gold and silver, copper concentrate
Machinery& Environmental
Engineering

Machinery Engineering
Dust collectors, crushing and grinding equipment, mining machinery, constructionrelated machinery, civil engineering machinery, electric machinery, monorail forpassenger transportation, ball valves, powder/fluid-related machinery, maintenance/
repair of baryta machinery, others
Environmental Engineering
Water treatment agents, deodorizers, others

Real Estate

10

Rentals of office buildings, condominiums, commercial spaces, factories and warehouses
and real estate sales

11Corporate Information
Organizational Chart

Offices

As of July 1, 2012

As of March 31, 2012
Domestic

General Meetingof Shareholders

Torigatayama Quarry Complex

Board of Directors

General Administration
Department

Shiriya Quarry Complex

Corporate Auditors
General Accounting
Department

Board ofCorporate Auditors

Ikura Quarry Complex
Limestone & Raw Materials
Sales Department
Higashi-shikagoe
Quarry Complex

Non-Ferrous Metal & Ore
Department

Oita Quarry Complex
Machinery & Environmental
Sales Department
Tochigi Quarry Complex

President

Yusen Building, 3-2, Marunouchi 2-chome, Chiyoda-ku, Tokyo 100-8377, Japan
URL: http://www.nittetsukou.co.jp/eng/

Head Office
General Administration Section

Tel: +81-3-3284-0516

Fax: +81-3-3215-8480

Public & Investor Relations Group

Tel: +81-3-3284-0518

Fax: +81-3-3215-8480

Limestone Sales Section

Tel: +81-3-3216-5261

Fax: +81-3-3284-0037

Limestone Powder
and Aggregate Sales Section

Tel: +81-3-3216-5260

Fax: +81-3-3284-0037

Fine Materials Sales Section

Tel: +81-3-3216-5254

Fax: +81-3-3215-7293

Non-Ferrous Metal & Ore Section

Tel: +81-3-3216-5265

Fax: +81-3-3284-0037

Environmental Sales Section

Tel: +81-3-3216-5320

Fax: +81-3-3216-5262

Machinery Sales Section

Tel: +81-3-3216-5321

Fax: +81-3-3216-5263

Resources Development Section

Tel: +81-3-3216-5281

Fax: +81-3-5962-5180

Information System Section

4-20-30, Shimorenjaku, Mitaka-city, Tokyo 181-0013, Japan
Tel: +81-422-79-1160 Fax: +81-422-79-1161

R&D Department

8-1, Hirai, Hinode-cho, Nishitama-gun, Tokyo 190-0182, Japan
R&D Administration Section
Tel: +81-42-597-7001 Fax: +81-42-597-7013

Mining Department

Management Council

Osaka Branch OfficeResources Development
Department
Kyushu Branch Office
R&D Department

Overseas
Level 24, 1 York Street, Sydney, NSW 2000, Australia
Tel: +61-2-9252-2076 Fax: +61-2-9252-2220

Sydney Branch Office
Hokkaido Branch Office

Safety Administration Office
Tohoku Branch OfficeBusiness Continuity
Management Office

Sydney Branch OfficeDirectors and Corporate Auditors
As of June 28, 2012
Representative Director and President

Rokuro Matsumoto
Managing Directors

Akiharu Shiokawa
Nobuhide Miyazaki
Kimio Sato
Directors

Hikoso Takahashi
Izumi Tanaka
Kaoru Yamazaki

CapitalMillions of yen

Company
Holdings (%)

Nittetsu Mining Consultants
Co., Ltd.

100

100.0

Consulting services for geological surveys, geophysicalexploration, test boring and construction

Hokkaido Lime Co., Ltd.

80

100.0

Manufacture and sales of quicklime and hydrated lime

Funao Mining Co., Ltd.

60

100.0

Mining and sales of limestone
Manufacture and sales of calcium carbonate

NittetsukoukenzaiICo., Ltd.

50

100.0

Buying and selling of limestone, crushed stone and calcium
carbonate

Yohtaro Matsuo

Kobukuro Techno Co., Ltd.

50

100.0

Manufacture and sales of crushing and grinding equipment
and electric machinery

Nittetsu Kagoshima
Geothermal Co., Ltd.

245

85.7

Supply and sales of geothermal steam and brine

Subsidiaries

CapitalThousands of US dollars

Company
Holdings (%)

Sociedad Contractual
Minera Atacama Kozan

3,750

60.0

Corporate Executives

Yoshifumi Noguchi

Hiroshi Koyama

Jun Matsunaga

Subsidiaries

Corporate Auditors

Jinichi Kamitani(Supervision of Mining Department and Safety Administration Office,and in charge of copper business in Chile)

As of March 31, 2012
Primary Businesses

Standing Corporate Auditors

Yutaka Moriwaki(Supervision of Machinery & Environmental Sales Department)

Major Subsidiaries(General Manager, Torigatayama Quarry Complex)(General Manager, General Accounting Department)

Hideo Kawamura(General Manager, Shiriya Quarry Complex)

Primary Businesses

Mining and sales of copper and other minerals(Supervision of Resources Development Department)

12

13

Nittetsu Mining Co., Ltd.
Yusen Building, 3-2, Marunouchi 2-chome
Chiyoda-ku, Tokyo 100-8377, JapanTe l : +81-3-3284-0516
Fax: +81-3-3215-8480
URL: http://www.nittetsukou.co.jp/eng/

Printed in Japan