DigestNovember 14, 2002

Brief Interim non-consolidated Financial Report Year ending March 31, 2003

(April 1, 2002– September 30, 2002)
Listed company name: Asgent, Inc.
Code #: 4288
Head office: 19-7 Nihonbashi Koami-cho, Chuo-ku, Tokyo Japan
President & CEO: Takahiro (Shuji) SugimotoContact: Shinji Suzuki, Director of Corporate Development & PlanningPhone #: +81-3-5643-2581
Date of Board of Directors Meeting: November 14, 2002
Adoption of US GAAP: NO
1. Interim Results for the year ending March 31, 2003 (April 1, 2002- September 30,2002)(1) Non-C o n s o l i d a t e d B u s i n e s s R e s u l t s(Millions of yen)
FY2001
FY2002
FY2001
Change(1st Half)(1 st Half)(Full Year)Net Sales
1,776
1,551 (12.7) %4,157
Operating Income219
114 (47.9) %511
Income Before Income Taxes
184
127(30.9) %503
Net Income
102
69(32.1) %280
Per Share Data:
Average Number of Shares Outstanding
35,894
39,243―37,542
During the Term
Net Income per share (Yen)¥2,863.90¥1,799.99¥7,470.31―
Note 1. Investment profit and loss arising from equity method: None

2. Changes to accounting policies: None
3. Company’s fiscal year is April 1-March 31(FY2001=Apr 1, 2001 - Mar 31, 2002, FY2002=Apr 1, 2002 - Mar31, 2003)
4. 1:5 share-split made on May 20, 2002
Adjustment of this effect is made retroactively for Net Income per share calculated in FY2001 and FY2002.

(2) Non-consolidated financial position (as of September 30, 2002)(Millions of yen)
As ofAs ofAs of March
September 30, September 30,31,2002
2001
2002
Total Assets
2,458
2,599
3,091
Stockholders’ Equity
1,650
1,8921,827
Equity Ratio
67.1 %
72.8 %
59.1%
Per Share Data:
Outstanding Number of Shares at the term end
39,20039,33039,200Stockholders’ Equity (Yen)¥42,094.06¥48,124.19¥46,608.74
Note: 1:5 share-split made on May 20, 2002/11/28
Adjustment of this effect is made retroactively for Stockholders’ Equity per share calculated as of September 30, 2001
and March 31, 2002.

(3) Non-consolidated cash flows (April 1, 2002-September 30, 2002)
FY2001(1st Half)
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Cash and Cash Equivalents at the term end

149(79)
1,067
1,305

(Millions of yen)
FY2002(1st Half)
39(335)0753

2.Forecast of non -consolidated business results for the year ending March 31, 2003
(April 1, 2002 – March 31, 2003)(Millions of yen)

FY2002(Full Year)Net Sales
Net Income
Expected Net Income per share (Yen)

3,800
162
¥4,118.99

FY2002(Full Year)
66(295)
1,067
1,037

3. Interim Non -Consolidated Financial Statements
3-1 Interim Non -Consolidated Balance Sheets(In thousand yen, rounded down)
At Interim Closing
for FY2001
As of September 30,
2001

AmountAt Interim Closing
for FY2002
As of September 30,2002

Ratio

Amount89.3

562,903597,365
190,348
293,595
16,26071,86594,505
1,826,843

1.4

14,79729,439469
44,707

Balance Sheet

As of March 31,2001

Ratio

Amount

Ratio

70.3

637,040
1,089,274
400,315
273,554
26,489114,170
2,540,844

82.2

1.8

15,04528,592469
44,107

1.5<ASSETS>
Current Assets
1.Cash and Deposits
2.Accounts Receivable-trade
3.Marketable Securities
4.Inventories
5.Defferred Tax
6.Suspense Paid Consumption Tax7.Others
Total Current Assets
Fixed Assets
Property, Equipment less Depreciation
1.Building
2.Tools, Furniture and Fixtures
3.LandS u b -total
Intangibles Fixed Assets
1.Software
3.Software Development in Process
4.Others
S u b -total

1,005,846
598,019300,000
164,654
14,15773,77739,7492,196,204
12,882
19,708469
33,0604,135
54,303281
58,720

182,519
1,626
2.4

184,145

34,995489
117,134
17,570170,189
261,96951
51
2,458,226

29,65999,863744
7.1

130,267

4.3

6.9
10.7

93,720265,700
38,370
9,032
118,551
17,934543,309772,16120.9
29.7

105,555
38,3701,642
213,053
18,074
376,695
551,070

12.2
17.8

0.0
100.0

2,599,005

0.0
100.0

3,091,915

0.0
100.0

Investment and Other Asset
1.Investment Securities
2.Investments in Partnership
3.Deposits
4.Deferred Taxes
5.Future Foreign Exchange Contracts
6.Others
S u b -total
Total Fixed Assets
Deferred Assets
1.Organization Expenses
Total Deferred Assets
Total Assets

( I n t h o u s a n d yen, rounded down)
At Interim
Closing for
FY2001

As of September 30,2001

AmountRatio

At InterimClosing forFY2002

As of September 30,
2002

AmountBalance Sheet

As of March 31,2001

Ratio

Amount

Ratio

26.9

627,951
61,122201,967
27,613285,19453,021
1,256,871

40.6

0.3
27.2

7,982
7,982
1,264,853

0.3
40.9

<LIABILITIES>Current Liabilities:
1.Accounts Payable-trade
2.Accounts payable
3.Accrued Income Taxes
4.Reserve for Bonus Payment
5.Consumption Tax Payable
6.Deferred hedge profit
7.Others
Total Current Liabilities
Fixed Liabilities
1. Reserve for Retirement Allowance
2. Others
Total Fixed Liabilities
Total Liabilities<Stockholders’ Equity>
Ⅰ Capital StockⅡ Legal Capital StockⅢ O t h er Surplus
1.Special Reserve
2.Unappropriated retained earnings
Total Other Surplus
Ⅳ Appraisal Loss on Investment Securities
Total Stockholders’ Equity
Ⅰ Capital Stock
Ⅱ Capital Surplus
1.Additional Paid-in Capital
Total Capital Surplus
Ⅲ Earned Surplus
1.Special Reserve
2.Unappropriated retained earnings
Total Earned Surplus
Ⅳ Appraisal Loss on Investment Securities
Total Stockholders’ Equity
Total Liabilities and Shareholders’ Equity

361,22175,352
86,97523,81689,481
130,296
30,862
798,006

32.5

268,529
53,67552,324
34,67377,58497,442
113,454697,684

6,159
3,972
10,132
808,138

0.4
32.9

8,596
8,596
706,281

767,000
704,000

31.2
28.6

-

767.000
704.000

24.8
22.8

-

2.084
354,660
356,744(681)
1,827,062

11.5
(0.0)
59.1

2,084
177,002179,087
1,650,087

7.3
67.1

-

-

768,000

29.5-

704,300
704,300

27.1

2,458,226

100.0

1,786
424,810426,597(6,173)
1,892,724
2,599,005

-

16.4
(0.2)
72.8
100.0

3,091,915

100.0

3-2 Interim Non -Consolidated Statements of Income(In thousand yen, Rounded down)
At Interim
Closing for
FY2001At Interim
Closing for
FY2002

Statements ofIncome for
FY2002(From Apr 1, 2001 to
Sep 30, 2001)(From Apr 1, 2002 to
Sep 30, 2002)(From Apr 1,2001 toMar 31,2002)

AmountRatio

AmountRatio

AmountRatio

1,776,041

100.0

1551,598

100.0

4,157,821

100.0

1,220,705
555,33668.7
31.3

1,025,160
526,43866.1
33.9

2,929,805
1,228,015

70.5
29.5

335,81218.9

412,08626.6

716,49717.2

219,523

12.4

114,3517.3

511,517

12.3

6,977
41,8240.4
2.4

14,452
1,259

0.9
0.0

27,73736,2250.7
0.9

Ordinary Profit

184,676

10.4

127,5448.2

503,029

12.1

Income Before Income Taxes

184,676

10.4

127,5448.2

242,023

12.1

Income Taxes & tax adjustments

81,880

4.6

57,691

3.7

222,576

5.4

Net Income

102,796

5.8

69,852

4.5

280,453

6.7

Retained Earnings (D eficit) Brought
Forward74,206354,957

74,206

Unappropriated retained earnings

177,002424,810354,660

Ⅰ Net Sales
Ⅱ Cost of Sales
Gross Profit
Ⅲ Selling, General andAdministrative Expenses
Operating Income
Ⅳ Non -Operating Profit
Ⅴ Non -Operating Expenses

<Business Segment Information>(In thousand yen, Rounded down)
At Interim
Closing for
FY2001

Security
Packaged
SoftwareHi-availability & Data Solution
Sub-Total

Service (Consultation & MSP)
Grand Total

At Interim
Closing for
FY2002

Change(From Apr 1,
2001 to Sep 30,2001)(From Apr 1,2002 to Sep 30,2002)

1,558,614

1,278,724-17.9%

137,115

121,114-11.6%

1,695,730

1,399,838-17.4%

80,311

151,760+188.9%1,776,041

1,551,598-12.6%

3-3 Interim Non -Consolidated Statements of Cash Flows(In thousand yen, Rounded down)
At Interim
Closing forFY2001

Ⅰ

Amortization of Founding Costs
Costs for Initial Public Offering
Decrease (Increase) in Notes and A c c o u n t s
Receivable -Trade
Decrease (Increase) in Inventories
Decrease in Suspense Paid Consumption Tax
Decrease in Accounts and Notes Payable-Trade
Decrease in Accrued Payable-Trade
Decrease in Consumption Tax Payable
Increase in Suspense Received Consumption Tax
Increase (Decrease) in Accrued Expenses
Decrease in Deposit Payable
Increase in Advance Received
OthersSub-totalInterest Earned
Interest Paid
Payment of Initial Public Offering Expenses
Income Taxes Paid
Net Cash Provided by Operating Activities

Net Cash Used in Investing Activities
Cash Flows from Financing Activities
Increasing in Short-term Debts
Payment for Servicing of the Installment Loans
PayableProceeds from Issue of Shares
OthersⅣⅤ
ⅥⅦ(From Apr 1, 2001
to Sep 30, 2001)(From Apr 1, 2002
to Sep 30, 2002)(From Apr 1, 2001
to Mar 31, 2002)

184,676

127,544503,0293,103(2,045)
7,683
1,202(6,334)
539
7,357
51
34,636

12,574(2,117)5,187538(1,926)(11,013)-

10,631
(592)
9,257
2,826
(13,679)
539(23,458)
103
34,636132,235

491,908(359,019)

178,106(73,777)(276,571)(17,937)(28,599)
89,481
3,194(3,709)2,476
9,972
245,7446,087(439)(26,484)(75,338)
149,569(20,041)(71,865)(346,489)(8,560)(23,137)
77,584(2,156)(2,401)
8,520
6,057
240,209
1,926(202,352)
39,78274,906(9,841)(13,578)(5,462)
6,793(3,219)1,974(13,707)
202,138
13,679(439)(34,636)(114,037)
66,704(5,100)(18,589)(40,380)(15,237)(79,307)(12,347)(56,720)(265,700)(313)(335,081)(106,726)(18,525)(33,552)(122,034)(14,840)(295,678)(60,000)-(60,000)

(140)

-

(210)

1,128,000-

1,300(1,120)1,128,000-

1,067,859

180

1,067,789(7,357)

11,01323,4581,130,763(284,105)862,274

175,082

1,037,356

175,082

1,305,846

753,251

1,037,356

Cash Flows from Investing Activities
Payment for Acquirement of Investments
Payments for Deposit of Money Deposited
Payments for Acquirement of Tangible Fixed Assets
Payments for Acquirement of Intangible Fixed Assets
Payments for Acquirement of Stock in Subsidiary
Others

ⅢAt Interim
Closing forFY2001

Cash Flow from Operating Activities
Net Income
Adjustments to Reconcile Net Income to Net Cashused in Operating Activities:
Depreciation and Amortization
Decrease in Allowance for Bad Debts
Increase in Reserve for Bonus Payment
Increase in Reserve for Retirement AllowanceInterest Earned
Interest Paid and Bond Interest
Exchange Loss (Gain)ⅡAt Interim
Closing forFY2002

Net Cash Provided by (Used in) Financing
Activities
Effect of Exchange rate Changes on Cash andCash Equivalents
Net Increase (Decrease) in Cash and CashEquivalents
Cash and Cash Equivalents at Beginning of theFiscal Year
Cash and Cash Equivalents at End of the HalfYear