DigestMay 21, 2004

Brief non-consolidated Financial Report for the Year ended March 31, 2004

(April 1, 2003 – March 31, 2004)
Listed company name: Asgent, Inc.
Code #: 4288
Head office: 19-7 Nihonbashi- Koamicho Chuo-ku, Tokyo Japan
President & C.E.O.: Takahiro (Shuji) SugimotoContact: Shinji Suzuki, Director of Corporate Development & PlanningPhone #: +81-3-5643-2581
Date of Board of Directors Meeting: May 21, 2004
Adoption of US GAAP: NO
1. Results for the year ended March 31, 2004
(1) Non-Consolidated Business Results (April 1, 2003 - March 31,2004)

Net Sales
Operating Income
Income Before Income Taxes
Net Income
Per Share Data:
Average Number of Shares Outstanding During
the Term
Net Income per share (Yen)(Millions of yen)year to year
comparison(7.2) %(24.3) %(18.2) %(15.2) %FY2002(Full Year)3,718302
301
165

FY2003(Full Year)3,449228246
140

39,28639,330―¥4,201.70¥3,560.38―

Note 1. Investment profit and loss arising from equity method: None
2. Changes to accounting policies: Evaluation Method for Foreign Currency Future Contract.
No Profit/Loss impact as of Mar 31, 2004 since there is no contract balance.
3. Company’s fiscal year is April 1-March 31(FY2002=Apr 1, 2002 - Mar 31, 2003. FY2003=Apr 1, 2003
- Mar 31, 2004)
4. 1:5 share-split made on May 20, 2002. This effect is retroactively adopted for Net Income pershare calculation in FY2002(2) Non-Consolidated Financial Position (as of March 31, 2004)

Total Assets
Stockholders’ Equity
Equity Ratio
Per Share Data:
Outstanding Number of Shares at the term end
Stockholders’ Equity (Yen)(Millions of yen)

As of March 31, 2003

As of March 31, 2003

3,1011,990
64.2 %

3,558
2,110
59.3 %

39,330¥50,612.61

39,330¥53,670.89

2.Forecast of non-consolidated business results for the year ending March 31, 2005
(April 1, 2004 – March 31, 2005)
1st Half
Net Sales
Net Income
Expected Net Income per share (Yen)

1,450(270)(¥6,864.99)(Millions of yen)
FY2004(Full Year)
3,500(190)(¥4,830.92)

3. Non-Consolidated Financial Statements
3-1.Non-Consolidated Balance Sheets(In thousand yen, rounded down)
As of March 31, 2003
AmountRatio

As of March 31, 2004
AmountChangeRatio<ASSETS>
Current Assets
1.Cash and Deposits
2.Accounts Receivable-trade
3.Marketable Securities
4.Inventories
5.Supplies
6.Prepaid Expense
7.Deferred Tax
8.Others
Total Current Assets
Fixed Assets
Property, Equipment less Depreciation
1.Building
2.Tools, Furniture and Fixtures
3.LandSub-total
Intangibles Fixed Assets
1.Trademark
2.Software
3.Software Development in Process
Sub-total

865,093
947,210
20,362
248,177
35
9,411
12,58359,0262,161,899

69.7

1,112,968
777,039
20,365319,859
35
11,904
26,47440,2472,308,894

64.9

146,995

1.8

17,03531,92046949,425

1.4(5,637)

7.2

3,256
130,545
138,509272,310

7.7

49,63096,040396,690
1,394
2,350
38,3707,144
79,206
40,596
659,496937,240

21.2
30.2

91,500502,340
3,000
209,380
3,073
55,873
9,117
49,313
923,597
1,245,333

25.9
35.0

264,100
308,093

2,833
2,833
3,101,973

0.1
100.0

4,549
4,549
3,558,778

0.1
100.0

1,716
456,805

14,34340,249469
55,063
3,061
168,805
50,813
222,680

Investment and Other Asset
1.Investment Securities
2.Stock of Affiliated Company
3.Investments in Partnership
4.Long-term Loan to Employee
5.Long-term Loan to Affiliated Company
6.Long-term Prepaid Expense
7.Deposits
8.Deferred Taxes
9.Future Foreign Exchange Contracts
10.Others
Sub-total
Total Fixed Assets
Deferred Assets
1.Bond Issue Costs
Total Deferred Assets
Total Assets

(In thousand yen, rounded down)
As of March 31, 2003
AmountRatio

As of March 31, 2004
AmountChangeRatio<LIABILITIES>Current Liabilities:
1.Accounts Payable-trade
2.Current Portion of Bond
3.Accounts payable
4.Accrued Expenses
5.Accrued Income Taxes
6.Consumption Tax Payable
7.Advance Received
8.Deposit Received
9.Reserve for Bonus Payment
10.Deferred Hedge Profit
11.Others
Total Current Liabilities
Fixed Liabilities
1.Bond
2.Reserve for Retirement Allowance
Total Fixed Liabilities
Total Liabilities<Stockholders’ Equity>
Ⅰ Capital Stock
Ⅱ Capital Surplus
1.Additional Paid-in Capital
Total Capital Surplus
Ⅲ Earned Surplus
1.Retained Earnings(1) Special Reserve for Amortization
2.Unappropriated retained earnings
Total Earned Surplus
Ⅳ Appraisal Loss on Investment Securities
Total Stockholders’ Equity
Total Liabilities and Shareholders’ Equity

337,456
79,84030,116
2,878
7,504
3,681
2,685
33,98782,354
21,814602,31919.4

468,695
60,00051,80022,616
61,05917,1992,648
2,834
36,404534
723,794

20.3

121,474

500,000
9,059
509,059
1,111,378

16.4
35.8

710,000
14,108724,108
1,447,902

20.4
40.7

215,049
336,523

768,000

24.8

768,000

21.6-

704,300
704,300

22.7

704,300
704,300

19.8

-

16.8
(0.1)
64.2
100.0

1,488
640,690642,179(3,603)
2,110,875
3,558,778

18.0
(0.1)
59.3
100.0

120,364(83)120,281
456,805

1,786
520,027
521,814(3,520)1,990,594
3,101,973

3-2 Non-Consolidated Statements of Income(In thousand yen, Rounded down)
FY2002(From Apr 1, 2002
to Mar 31, 2003)
AmountRatio

FY2003(From Apr 1, 2003
to Mar 31, 2004)
AmountRatio

ChangeⅠ Net Sales

3,718,783

100.0

3,449,541

100.0(269,242)

Ⅱ Cost of Sales

2,500,766

67.3

2,290,78566.4(209,981)

Gross Profit
Ⅲ Selling, General and
Administrative Expenses
1. Transportation
２. Advertising
3. Director’s Salaries And Remuneration
4. Salaries and Bonus
5. Provision for Bonus
6. Retirement Allowance
7. Legal Welfare
8. Welfare
9. Travel
10.Postage
11.Office Rent
12.Leases
13.Supplies
14.Part-Time Staff
15.Commissions
16.Taxes and Public Dues
17.Depreciation
18.Research and Development
19.Others

1,218,016

32.7

1,158,755

33.6(59,260)

24.6
8.1

8,917
34,90071,178
312,644
24,5296,284
43,504
2,896
28,826
14,83359,081
17,54812,31949,985
103,187931
58,10430,12850,222930,025
228,730

27.0
6.6

14,211(73,472)

0.1

4,503
6,258
3,743
14,505

0.4

10,823410
1,416
1,1201,530
92
4,570
301,313

0.1
8.1

8,194
2,983
1,394
100,150
23,832
219,402

0.7
6.3

19,262(81,910)--

27,18027,1800.8

27,180

Income Before Income Taxes

301,313

8.1

246,583

7.1(54,730)

Income Taxes & Tax Adjustments

136,243

3.7

106,553

3.1(29,690)

Net Income

165,0704.4

140,029

4.0(25,040)

Retained Earnings(Deficit) Brought Forward

354,957

510,493

155,535

-

9,832

9,832

520,027

640,690

120,662

Operating Income
Ⅳ Non-Operating Profit
1.Interest Received
2.Exchange Gain
3.Others
Ⅴ Non-Operating Expenses
1.Interest Paid
2.Bond Interest
3.Bond Issue Expense
4.Stock Issue Expense
5.Investments Operating Loss
6.Others
Ordinary Profit

11,61359,72454,540278,155
27,9132,844
43,391
3,917
30,864
15,60040,053
21,863
20,206
93,79562,0685,316
12,44013,443
118,060
915,814302,202

2,248
1,050
382
3,681

Ⅵ Extraordinary Gain
1.Cancellation of Future Exchange Contract

Dividends
Unappropriated retained earnings

3-3 Statements of Appropriations(In thousand yen, Rounded down)

Ⅰ

Unappropriated retained earnings

Ⅱ

Reversal of voluntary earned surplus
Reversal of special depreciation reserve
TotalⅢFY2003(From Apr 1, 2003
to Mar 31, 2004)

520,027

640,690297

275

520,325

640,965

9,832

9,832

510,493

631,133

Appropriations of retained earnings
Dividends

ⅣFY2002(From Apr 1, 2002 toMar 31, 2003)

Retained earnings brought forward to the next period

The Fund and Reversal of special depreciation reserve are based on the rules of special taxation measures low.