February 1, 2013

To whom it may concern:
TOHO HOLDINGS CO., LTD.
Norio Hamada, President and Representative Director(Tokyo Stock Exchange Securities Code: 8129)
Contact: Katsuya Kato
Corporate Officer and General Manager ofCorporate Communications Officeand Corporate Planning Office(TEL: 03-5259-9520)

Results of Operations during the Third Quarter of Fiscal 2013

While the market for prescription pharmaceuticals for the consolidated cumulative third quarter of fiscal 2013 ending
March 2013 grew by 2.3% on a year-on-year basis (estimates by Crecon Research & Consulting Inc.), the TOHOGroup’s pharmaceutical wholesaling operations for the cumulative third quarter showed a growth rate exceeding theaverage market growth rate, supported by the deployment of a “strategy of balance” between the proposal-based
marketing and sales centered on customer support systems and the sales of new products with the potential for market
growth in the near future.
In addition, today, while there is an increasing need to strengthen coordination between medical care and nursing carein response to changing medical needs due to the ageing of the society, the development and enhancement of theenvironment for providing support in the home is considered important. In this situation, many people involved inpromoting home medical care have asked us, as a company that has a capillary distribution system for delivery tomedical-care facilities, to develop a system for the smooth distribution of medical materials. In response to such
requests from various quarters, the Company launched the wholesale distribution of medical materials in small lotson December 1, 2012, in order to deliver medical materials in the quantities needed, when they are needed, on anationwide scale across Japan.
Under these circumstances, the Group’s consolidated net sales for the third quarter (cumulative) were 862,368 million
yen, an increase of 3.0% on a year-on-year basis, achieving 75.6% of the rate of progress against the initial projection
for the full-term. In the pharmaceutical wholesaling operations, the Company strictly operated a price lock system tosecure appropriate profits based on price systems in accordance with the value of each product, and tackledimprovements in relation to distribution problems, including total value transactions and the issue of the gap between
the NHI price and the market prices as well as the problem of provisional shipping with the pricing yet to benegotiated. The Company has also promoted the expansion of fee-based businesses resulting from the sufficient useof Meissa and customer support systems as well as cost reduction activities within the companies of the whole Group.
In the field of dispensing pharmacy operations, the Company constantly expanded its business scale through setting
up new dispensing pharmacies, however, the increased expenses for setting up new pharmacies and employing
pharmacists have weighed on profits. As a result, the operating income increased by 39.5% on a year-on-year basis to10,645 million yen, achieving 67.8% of the rate of progress against the initial projection for the full-term, and theordinary income was 13,051 million yen, an increase of 23.8% on a year-on-year basis, marking a rate of progress of
70.9% against the initial projection for the full-term, and the consolidated net income for the third quarter stood at
7,852 million yen, up by 17.2% from a year earlier, recording a rate of progress of 75.5% against the initial projection
for the full-term.

1. Results in the third quarter of fiscal 2013 (Consolidated)(1) Comparison with the same period in the previous fiscal year
Unit: million yen, %Consolidated

Operating
IncomeNet Sales

Ordinary
IncomeQuarterly net
IncomeThird Quarter, Fiscal 2013

862,368

10,645

13,051

7,852

Third Quarter, Fiscal 2012

837,391

7,631

10,5386,698

YoY Change

24,976

3,013

2,512

1,154

YoY Change Ratio (%)

103.0

139.5

123.8

117.2

(2) Comparison with the forecast for the full fiscal 2013
Unit: million yen, %Consolidated

Operating
IncomeNet Sales

Ordinary
IncomeQuarterly netIncome

Third Quarter, Fiscal 2013

862,368

10,645

13,051

7,852

Forecast for Fiscal 2013
Percentage against the Full-year
Earnings Forecasts (%)

1,140,000

15,70018,40010,400

75.6

67.8

70.9

75.5

2. Forecast for fiscal 2013 (Full-year)
There has been no change in our forecast for the fiscal 2013 performance from the figures announced on May 9,2012.

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