Consolidated Financial Results for the First Three Months of the
Fiscal Year Ending March 31, 2017 [Japanese GAAP]
August 5, 2016
Company name:TOKAI Holdings Corporation

Stock listing:Tokyo Stock Exchange

Stock code:

3167

URL:

http://tokaiholdings.co.jp

Representative:

Katsuhiko Tokita, President & CEO

Contact:

Hiroyuki Ozawa, Managing Executive Officer, General Manager of Administrative Headquarters
Telephone: +81-54-275-0007

Scheduled date of filing quarterly report:

August 10, 2016

Scheduled date of dividend payment:—

Supplementary materials on quarterly financial results:

Yes

Quarterly financial results briefing:No(Figures are rounded to the nearest million yen)

1. Consolidated Financial Results for the Three Months Ended June 30, 2016
(April 1, 2016 to June 30, 2016)(1) Consolidated Operating Results (cumulative)(% figures represent year-on-year changes)

Sales

Millions of yen

Operating Profit%

Millions of yen

Quarterly Net
IncomeAttributable to
Owners of the
ParentRecurring Profit%

Millions of yen%

Millions of yen

Three months ended
(2.5)
68.0
41,618
2,870
2,900
75.9
June 30, 2016
Three months ended
42,672
(3.7)
1,708
3.1
1,649
6.6
June 30, 2015
(Note) Comprehensive income: 1,329 million yen in the three months ended June 30, 2016 (up 15.9%)
1,146 million yen in the three months ended June 30, 2015 (up 12.2%)
Quarterly Net Income
per Share

%

1,766

147.2

714

0.2

Quarterly Net Income
per Share (Diluted)

Yen

Yen

15.60

13.51

6.18

6.11

Total Assets

Net Assets

Equity Ratio

Net Assets per
Share

Millions of yen

Millions of yen

%

Yen

26.8

366.8925.6

362.77

Three months ended
June 30, 2016
Three months ended
June 30, 2015

(2) Consolidated Financial Position

Three months ended
42,521
155,595
June 30, 2016
Year ended
160,303
41,970March 31, 2016
(Reference) Equity: 41,633 million yen for the three months ended June 30, 2016
41,063 million yen for the year ended March 31, 2016

2. Dividends
End of Q1
Year ended March 31, 2016
Year ending March 31, 2017
Year ending March 31, 2017
(Forecast)

Annual Dividend
End of Q3

End of Q2

Year-end

Total

Yen

Yen

Yen

Yen

Yen

―
―

6.00

―

8.00

14.00

11.00

―

11.00

22.00

(Note) Revisions to most recently announced dividend forecasts: No

3. Consolidated Earnings Forecasts for the Year Ending March 31, 2017 (April 1, 2016 to March 31, 2017)(% figures represent year-on-year changes)

Sales

Six months
endingSeptember 30,
2016
Year ending
March 31, 2017

Operating Profit

Net Income
Attributable to
Owners of the
ParentRecurring Profit

Millions of yen%

Millions of yen%

Millions of yen%

85,300

0.6

3,380

82.1

3,270

187,100

3.4

12,56052.3

11,830Millions of yen

Net Income per
Share
%

Yen

83.8

1,120 304.0

9.89

45.1

6,240

55.13

80.4

(Note) Revisions to most recently announced earnings forecasts: No
業績予想欄については、上場会社各社の実情に応じて、開示対象項目や開示対象期間の追加又は削除、開示形式の変更を行うことが可能です。
*Notes(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries affecting the scope of consolidation): No(2) Application of special accounting procedures in the preparation of quarterly consolidated financial statements: No(3) Changes in accounting policies, estimates, and restatements
1) Changes in accounting policies accompanying revisions in accounting standards, etc.: Yes
2) Changes in accounting policies other than 1): No
3) Changes in accounting estimates: No4) Restatements: No(Note) For details, please see page 5 of the attached materials: “2. Summary Information (Notes): (3) Changes in Accounting Policies, Estimates,
and Restatements.”(4) Number of shares issued (common stock)
136,679,977 shares FY3/2016
139,679,977 shares
1) Shares issued at the end of each period (including treasury stock): Q1 FY3/2017
2) Number of shares of treasury stock at the end of each period:
Q1 FY3/2017
26,204,096 shares FY3/2016
26,488,216 shares
Q1 FY3/2017
113,241,238 shares Q1 FY3/2016
115,589,692 shares
3) Average number of shares during the period (cumulative):(Note)The company shares held in ESOP trust accounts are included in the treasury stock, which is subtracted from calculations of theaverage number of shares during the period (0 shares for the three months ended June 30, 2016; 485,990 shares for the threemonths ended June 30, 2015).

*Information Regarding Execution of Quarterly Review ProceduresThis quarterly financial statement is not subject to the quarterly review procedures pursuant to the Financial Instruments and Exchange Act,and the review procedures of quarterly financial statements pursuant to the Financial Instruments and Exchange Act have not been completed
as of the release of this document.

* Explanation regarding the Appropriate Uses of Earnings Forecasts and Other Notes
All earnings forecasts provided within this document are based on the most accurate information available at the time of the release of thisdocument. Actual results may differ from forecasts due to various factors going forward.

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016

[Attachment]
Contents
1. Qualitative Information on Financial Results for the Period Under Review(1)

Explanation of Consolidated Operating Performance ···································································· 2(2)Explanation of Consolidated Financial Condition·········································································· 3(3)Explanation of Consolidated Earnings Forecasts and Other Forward-Looking Information ···················· 4

2. Summary Information (Notes)(1)

Changes in Significant Subsidiaries During the Period Under Review ·············································· 5(2)Application of Special Accounting Procedures in the Preparation of
Quarterly Consolidated Financial Statements ·············································································· 5(3)Changes in Accounting Policies, Estimates, and Restatements ······················································ 5(4)Additional Information ············································································································ 5

3.

Quarterly Consolidated Financial Statements(1)

Quarterly Consolidated Balance Sheets ····················································································· 6(2)Quarterly Consolidated Statements of Income, Consolidated Statements of Comprehensive Income······ 8(3)Quarterly Consolidated Statements of Cash Flows ····································································· 10(4)Notes on Quarterly Consolidated Financial Statements ······························································· 11(Notes on Going Concern Assumptions) ······················································································· 11(Notes on Significant Changes in Shareholders’ Equity) ··································································· 11(Segment Information, etc.) ······································································································· 11

1

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016

1.

Qualitative Information on Financial Results for the Period Under Review(1)

Explanation of Consolidated Operating Performance
During the first three months of the fiscal year ending March 31, 2017, the Japanese economy saw stagnant

improvement in corporate earnings and recovery in individual consumption against a backdrop of unstable
movement in foreign exchange rates and stock prices. Additionally, amid concerns about the effects of the UK
decision to leave the EU, a sense of uneasiness regarding future economic prospects is spreading across theglobe.
The Group’s medium-term management plan, “Innovation Plan 2016 ‘Growing’” is positioned as a period torealize “strengthened business profitability,” and the fiscal year ending March 31, 2017 is the final year of theplan. We diligently worked toward expanding the revenue foundation by increasing transaction channels withthe addition of electricity to the existing lineup of household services, which include gas, ISP, CATV, aqua, andsecurity from April 2016, and to be a one stop, one contract provider of all those services, we pressed forwardwith the TLC (Total Life Concierge) vision as a Groupwide theme.
During the three months ended June 30, 2016, the Group booked sales of 41,618 million yen (down 2.5%
year-on-year), operating profit of 2,870 million yen (up 68.0%), recurring profit of 2,900 million yen (up 75.9%)
and quarterly net income attributable to owners of the parent of 1,766 million yen (up 147.2%).
Furthermore, the number of continuing customers was 2,557 thousand, unchanged from March 31, 2016.
Members of the TLC membership service—a service aimed at enhancing customer interactions and offering
benefits to members—rose by 24 thousand from March 31, 2016, to 515 thousand members.
Performance by segment was as follows.
(Gas and Petroleum)
In the liquefied petroleum gas (LP gas) business, while the number of customers was unchanged fromMarch 31, 2016 at 580 thousand, and sales volume of LP gas was flat year-on-year, sales were down year-onyear as selling prices were lowered during the previous fiscal year to reflect a drop in procurement prices.
In the city gas business, the number of customers was 54 thousand, unchanged from the level as of March
31, 2016, but sales fell year-on-year due to a decline in selling prices stemming from the raw material priceadjustment system.
Due to these factors, segment sales came to 17,479 million yen (down 13.8% year-on-year), but operating
profit was 1,643 million yen (up 21.1%), reflecting successful efforts to increase operating efficiency and areduction in selling and administrative expenses.
(Building and Real Estate)
In the Building and Real Estate business, although trends in orders received were strong, completion ofprojects such as facilities construction and new construction of stores, etc., was scheduled for the second
quarter onward, leading to segment sales of 3,414 million yen (down 14.9% year-on-year) and an operating lossof 45 million yen (compared with an operating loss of 56 million yen in the corresponding period of the previousyear).
(CATV)In the CATV business, we worked to acquire new customers through sales of set discount offerings forbroadcasting and communications, in addition to smartphone set discounts through alliances with major mobile
phone carriers.
In addition, owing to efforts to improve customer satisfaction such as delivery of regional information via
community channels and reinforcing customer support to prevent cancellations, subscribers to the broadcasting
service increased by two thousand from March 31, 2016, to 501 thousand and telecommunications services
increased by 4 thousand from March 31, 2016, to 215 thousand (160 thousand CATV-FTTH customers and 54
thousand CATV internet subscribers).
Due to an increase in subscribers, segment sales totaled 6,241 million yen (up 2.7% year-on-year), and2

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016combined with cost reductions, operating profit was 615 million yen (up 109.1%).
(Information and Communications Service)
In the broadband business, while acquiring new customers, we actively marketed to encourage existingcustomers to switch to Hikari Collaboration services “@TCOM Hikari” and “TNC Hikari,” so the number of Hikari
Collaboration customers increased by 32 thousand from March 31, 2016, to 251 thousand. Although many new
entrants including major mobile phone carriers are creating an increasingly competitive environment, we wereable to maintain levels on par with March 31, 2016: 745 thousand customers for overall FTTH, and 827 thousand
customers for overall broadband, which includes ADSL
Segment sales were 11,780 million yen (up 19.9% year-on-year) primarily owing to Hikari Collaboration line
sales and an increase in paying customers, and operating profit recovered to 636 million yen (up 89.5%).
(Aqua)In the Aqua business, the Company moved forward with sales activities for the “The gift of delicious water:
Ulunom” brand, mainly targeting large-scale commercial facilities, and succeeded in increasing the number ofcustomers to 134 thousand, up by 1 thousand from March 31, 2016. The number of units sold also increased
year-on-year.
As a result, sales in this segment came to 1,424 million yen (up 7.9% year-on-year), and by restricting
customer acquisition costs and advertising and promotion costs, we succeeded in reducing the operating loss to
30 million yen (from an operating loss of 265 million yen in the same period of the preceding fiscal year), making
progress on achieving profitability in the segment.
(Others)
In the nursing care business, an increase in the number of users led to higher sales year-on-year.
In the ships business, sales were down as the average volume of repairs per vessel declined.
In the bridal events business, sales increased year-on-year due to an increase in the number of couples
holding ceremonies.
As a result, segment sales came to 1,277 million yen (up 11.1% year-on-year), and operating profit was 25
million yen (compared with an operating loss of 104 million yen in the same period of the preceding fiscal year).

(2) Explanation of Consolidated Financial Condition
1) Assets, Liabilities, and Net Assets
Total assets amounted to 155,595 million yen as of June 30, 2016, down by 4,707 million yen from March 31,
2016. This decline was mainly attributable to a 3,366 million yen decrease in notes and accounts receivable–
trade stemming from seasonal factors, and an 861 million yen decrease in property, plant and equipment
stemming from depreciation.
Total liabilities were 113,074 million yen, down by 5,258 million yen from March 31, 2016. This was primarily
due to a decrease of 1,546 million yen in notes and accounts payable–trade stemming from seasonal factors, anda reduction of 4,349 million yen in interest-bearing debt stemming from repayments of borrowings.
As of June 30, 2016, net assets totaled 42,521 million yen, up by 550 million yen from March 31, 2016. This
increase was principally due to the recording of 1,766 million yen in quarterly net income attributable to owners of
the parent, despite decreases of 905 million yen due to distribution of retained earnings and 271 million yen invaluation difference on available-for-sale securities.
2) Cash Flows
Cash and cash equivalents stood at 3,614 million yen as of June 30, 2016, down 430 million yen from March
31, 2016.
Cash flows from each activity during the three months under review and the factors behind them are as follows.

3

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016

(Cash flows from operating activities)
Net cash provided by operating activities was 8,242 million yen (up 3,957 million yen year-on-year). Funds
increased chiefly due to a decrease in notes and accounts receivable and in the effect of depreciation andamortization expenses (non-cash items).
Additionally, compared to the same period in the previous year, cash flows from operating activities increased
substantially. This was mainly due to an increase in quarterly net income before income taxes and otheradjustments and a decline in consumption tax payments.
(Cash flows from investing activities)
Net cash used in investing activities was 2,454 million yen (up 707 million yen year-on-year). Cash was usedmainly for the acquisition of tangible and intangible assets.
(Cash flows from financing activities)
Net cash used in financing activities was 6,216 million yen (down 4,955 million yen year-on-year). This was
mainly due to efforts to reduce interest-bearing debt.
Additionally, cash flows from financing activities decreased significantly year-on-year, but this is primarily due
to the lack of inflows from the issuance of convertible bonds with stock acquisition rights seen during the previous
corresponding period, and aggressive efforts to reduce interest-bearing debt.

(3) Explanation of Consolidated Earnings Forecasts and Other Forward-Looking Information
Earnings results for the three months ended June 30, 2016 were generally in line with forecasts, and theCompany maintains its consolidated earnings forecasts for the fiscal year ending March 31, 2017, announced on
May 10, 2016.
Forecasts are judgments based on currently available information. Actual performance may differ fromforecasts due to a variety of factors going forward.

4

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016

2. Summary Information (Notes)(1) Changes in Significant Subsidiaries During the Period Under Review
Not applicable.

(2) Application of Special Accounting Procedures in the Preparation of Quarterly Consolidated
Financial Statements
Not applicable.

(3) Changes in Accounting Policies, Estimates, and Restatements(Changes in Accounting Policies)(Application of Practical Solution on a change in depreciation method due to Tax Reform 2016)
In line with revision to the Corporation Tax Act, the Company has applied the “Practical Solution on achange in depreciation method due to Tax Reform 2016” (Practical Issues Task Force No. 32, June 17, 2016)
from the three months ended June 30, 2016, and the depreciation method for facilities attached to buildings
and structures acquired from April 1, 2016 onward have been changed from the declining balance method tothe straight-line method.
The effect of this change on profit and loss is immaterial.

(4) Additional Information(Application of Implementation Guidance on Recoverability of Deferred Tax Assets)
The Company has applied the “Implementation Guidance on Recoverability of Deferred Tax Assets”(Accounting Standards Board of Japan Implementation Guidance No. 26, March 28, 2016) from the threemonths ended June 30, 2016.

5

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016

3. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of yen)
Fiscal Year Ended

Three Months Ended

March 31, 2016

June 30, 2016

AssetsCurrent assets
Cash and deposits

4,077

3,647

Notes and accounts receivable–trade

21,305

17,939Merchandise and finished goods

4,307

4,217

Work in process

610

1,032

Raw materials and supplies

694

709

Other

7,512

7,624

Allowance for doubtful accounts

(391)

(394)

38,117

34,775

Buildings and structures, net

35,17834,854

Machinery, equipment and vehicles, net

22,074

21,657

Land

21,825

21,825

Other, net

15,986

15,865

Total property, plant and equipment

95,064

94,202

Goodwill

6,589

6,515

Other

4,350

4,346

Total intangible assets

10,94010,861

Net defined benefit asset

2,360

2,377

Other

14,387

13,976

Allowance for doubtful accounts

(599)

(627)

Total investments and other assets

16,14915,726

122,153

120,79031

29

160,303

155,595

Total current assets
Non-current assets
Property, plant and equipment

Intangible assets

Investments and other assets

Total non-current assets
Deferred assets
Total assets

6

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016

(Millions of yen)
Fiscal Year Ended

Three Months Ended

March 31, 2016

June 30, 2016

Liabilities
Current liabilities
Notes and accounts payable–trade

13,511

11,964

Short-term loans payable

27,82825,862Current portion of bonds

758

758

Income taxes payable

1,954

1,412

Accruals

1,459

171

Other

17,446

19,962

Total current liabilities

62,95860,131

Non-current liabilities
Bonds payable

984

984

Convertible bonds with stock acquisition rights

10,00010,000Long-term loans payable

31,83929,456

Accruals

68

72

Net defined benefit liability

308

321

Other

12,172

12,107

Total non-current liabilities

55,373

52,943

118,332

113,074

Capital stock

14,00014,000Capital surplus

19,25819,357

Total liabilities
Net assets
Shareholders’ equity

Retained earnings

9,870

10,731

Treasury stock(6,409)(6,340)Total shareholders’ equity

36,71937,749

1,153

881

230

96

Foreign currency translation adjustment

1

(13)

Remeasurement of defined benefit plans

2,958

2,919

Total accumulated other comprehensive income

4,343

3,884

Stock acquisition rights

208

170

Non-controlling interests

699

717

41,97042,521

160,303

155,595

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains (losses) on hedges

Total net assets
Total liabilities and net assets

7

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016

(2) Quarterly Consolidated Statements of Income, Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(Three Months Ended June 30)(Millions of yen)Three Months Ended

Three Months Ended

June 30, 2015

June 30, 2016

(April 1, 2015 to(April 1, 2016 toJune 30, 2015)

June 30, 2016)

Sales

42,672

41,618

Cost of sales

26,251

24,219Gross profit

16,421

17,398Selling, general and administrative expenses

14,713

14,528Operating profit

1,708

2,870

Interest income

43

Dividend income

83

95

Commission fee

21

21

Other

93

97

Total non-operating profit

202

217

Interest expenses

195

146

Other

65

41

Total non-operating expenses

261

187

1,649

2,900

Gain on sales of non-current assets

1

1

Transmission line facility subsidies

122

Subsidy income－

2

Total extraordinary income

14

6

0

0

Loss on retirement of non-current assets

259

146

Total extraordinary losses

259

146

1,403

2,761

Income taxes (current)

975

1,248

Income taxes (deferred)

(300)

(274)

Total income taxes

674

973

Quarterly net income

729

1,788

Quarterly net income attributable to non-controlling interests

14

21

Quarterly net income attributable to owners of the parent

714

1,766

Non-operating profit

Non-operating expenses

Recurring profit
Extraordinary income

Extraordinary losses
Loss on sales of non-current assets

Quarterly net income before income taxes

8

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016

(Consolidated Statements of Comprehensive Income)(Three Months Ended June 30)(Millions of yen)Three Months Ended Three Months Ended

Quarterly net income

June 30, 2015

June 30, 2016

(April 1, 2015 to(April 1, 2016 toJune 30, 2015)

June 30, 2016)

729

1,788

Valuation difference on available-for-sale securities

544

(271)

Deferred gains (losses) on hedges

(83)

(133)

Foreign currency translation adjustment

(3)

(8)

Remeasurement of defined benefit plans, net of tax

(42)

(38)

3

(6)

417

(459)

1,146

1,329

1,131

1,307

14

21

Other comprehensive income

Share of other comprehensive income of entities accounted for using
the equity method
Total other comprehensive income
Quarterly comprehensive income(Breakdown)Comprehensive income attributable to owners of the parent
Comprehensive income attributable to non-controlling interests

9

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016(3) Quarterly Consolidated Statements of Cash Flows(Millions of yen)Three Months Ended

Three Months Ended

June 30, 2015

June 30, 2016

(April 1, 2015 to(April 1, 2016 toJune 30, 2015)

June 30, 2016)

Cash flows from operating activities
Quarterly net income before income taxes and minority interests

1,403

2,761

Depreciation

3,658

3,587

532

302

(1,251)(1,234)

3(57)

Interest and dividend income

(87)

(98)

Interest expenses

195

146

Amortization of goodwill
Increase (decrease) in accrued bonuses
Increase (decrease) in net defined benefit asset and liability(Gain) loss on sales of non-current assets

(1)

(1)

Loss on retirement of non-current assets

259

146

2,857

3,488

1

(345)

(Increase) decrease in notes and accounts payable - trade(1,701)(1,510)

Increase (decrease) in accrued consumption taxes(1,255)(45)

Increase (decrease) in accrued expenses

2,705

2,643

Other

(874)

435

Increase (decrease) in notes and accounts payable(Increase) decrease in inventories

Subtotal

6,445

10,216

Income taxes paid

(2,160)(1,973)

Net cash provided by operating activities

4,285

8,242

98

112

Cash flows from investing activities
Interest and dividend income received
Purchase of securities

(2)

(2)

(3,112)(2,600)

Proceeds from sales of tangible and intangible assets

40

37Collection of loans receivable

100

21

Other

(287)

(23)

(3,162)(2,454)Purchase of tangible and intangible assets

Net cash provided by (used in) in investing activities
Cash flows from financing activities
Interest expenses paid

(182)

(138)

Net increase (decrease) in short-term loans payable(5,550)(1,125)

Repayments of lease obligations(1,018)(1,006)

Repayment of long-term loans payable(4,088)(3,224)

9,990—

Proceeds from issuance of convertible bonds with stockacquisition rights
Payments for acquisition of treasury stock

(0)

(0)

Proceeds from disposal of treasury stock

260

131

Cash dividends paid

(650)

(848)

Other

(21)

(5)

(1,261)(6,216)

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

0(1)

Net increase (decrease) in cash and cash equivalents

(137)

(430)

Cash and cash equivalents at beginning of period

2,821

4,044

Cash and cash equivalents at end of period

2,683

3,614

10

TOKAI Holdings Corporation (3167) Financial Results for the Three Months ended June 30, 2016(4) Notes on Quarterly Consolidated Financial Statements(Notes on Going Concern Assumptions)Not applicable.
(Notes on Significant Changes in Shareholders’ Equity)
Not applicable.

(Segment Information, etc.)[Segment Information]
I. Three Months Ended June 30, 2015 (April 1, 2015 to June 30, 2015)
Sales and Income or Losses by Reportable Segment

Gas andPetroleum
Sales
Sales toexternalcustomers
Intersegment
sales andtransfers
Subtotal
Segment income(loss)

Reportable segments
Information
Building
andand Real
CATV
CommuniEstatecations

Aqua

Subtotal

Other1

Total(Millions of yen)Amount in
Quarterly
Adjustments2 Consolidated
Statements ofIncome3

20,288

4,012

6,074

9,826

1,320

41,522

1,149

42,672—

42,672

39

267

206

720

4

1,238

54

1,293

(1,293)—

20,328

4,279

6,281

10,547

1,325

42,761

1,204

43,966(1,293)42,672

1,356

(56)

294

335

(265)

1,664

(104)

1,559

148

1,708

(Note) 1. The “Other” category is a business segment not included in the reportable segments. This
category includes businesses such as weddings, ship repair, insurance, and nursing care.
2. Adjustments to segment income (loss) are mainly eliminations due to intersegment
transactions.
3. Segment income (loss) is adjusted to match operating profit in the quarterly consolidated
statements of income.

II. Three Months ended June 30, 2016 (April 1, 2016 to June 30, 2016)
Sales and Profits or Losses by Reportable Segment

Gas andPetroleum
Sales
Sales toexternalcustomers
Intersegment
sales andtransfer
Subtotal
Segment
income (loss)

Reportable segments
Information
Building
andand Real
CATV
CommuniEstatecations

Aqua

Subtotal

Other1

Total(Millions of yen)Amount in
Quarterly
Adjustments2 Consolidated
Statements ofIncome3

17,479

3,414

6,241

11,7801,424

40,341

1,277

41,618—41,618

72

679

198

635

6

1,591

50

1,641

(1,641)—

17,551

4,094

6,440

12,415

1,431

41,932

1,327

43,260(1,641)

41,618

1,643

(45)

615

636

(30)

2,819

25

2,844

26

2,870

(Note)

1. The “Other” category is a business segment not included in the reportable segments. This
category includes businesses such as weddings, ship repair, insurance and nursing care.
2. Adjustments to segment income (loss) are mainly eliminations due to intersegment
transactions.
3. Segment income (loss) is adjusted to match operating profit in the quarterly consolidated
statements of income.

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