Year Ending September 2007

Overview of the Interim-Term Financial Results and Performance (Excerpt)
May 1, 2007
Operating Results and Financial Condition
Consolidated net sales for the interim term ended March 31, 2007, advanced ¥15 million, or 2.1%
year over year, to ¥741 million. By business segment, “Product sales” increased 7.8% to ¥286
million, “Consultancy sales” edged up 0.5% to ¥440 million and “Training sales” decreased 35.6%
to ¥13 million.
Product sales for the interim term under review increased ¥20 million year over year. This
rise was primarily due to favorable sales of the GAB and other paper tests for customers through theagency channel. Consultancy sales increased only ¥2 million year over year, reflecting less-thanexpected demand for our consulting service at the screening stage for new graduates as leading
corporations instead focused recruiting efforts on screening their own target populations to cope with
the increasingly sellers’ market for the employment of new graduates. Training sales decreased ¥7
million year over year, which was primarily attributable to the decreased number of interviewtraining seminars held by leading corporations. A principal cause of this reduction is considered thesame as above described.
Consolidated operating income for the interim term under review totaled ¥245 million, up
8.1% year over year. Although cost of goods sold increased ¥7 million, or 6.0%, to ¥133 million,operating income increased ¥18 million year over year because selling, general and administrative
expenses decreased ¥10 million, or 2.8%, to ¥361 million and net sales increased ¥15 million. The
rise in cost of goods sold was mainly attributable to an increase in the number of development staff.
A leading contributor to the decline in selling, general and administrative expenses was a year-overyear reduction of ¥11 million in sales promotion expense.
Consolidated ordinary income for the interim term ended March 31, 2007, rose ¥16
million, or 7.2% year over year, to ¥246 million. This mainly resulted from an increase inconsolidated operating income despite a year-over-year decline of ¥1 million in non-operating
income.
After taking into account the above factors and income taxes—current and income taxes—
deferred, consolidated net income for the interim term ended March 31, 2007, increased ¥3 million,
or 2.1% year over year, to ¥145 million.

Full-Year Outlook (October 1, 2006, through September 30, 2007)
As the figures for the projected full-year consolidated performance based on the operating results forthe interim term ended March 31, 2007, and the projections for the second half (April 1, 2007,through September 30, 2007) are expected to be lower than those previously released, we intend torevise the projected full-year consolidated performance for the year ending September 30, 2007, asshown in the table below.
According to the Group’s management indicators for the interim term ended March 31,2007, sales from our top 100 customers decreased approximately 6% compared with thecorresponding first-half period a year earlier. This negative trend will likely continue in the second
half, and consolidated net sales are therefore expected to decrease by ¥134 million, or 7.4%,
compared with the projection in the previous release.
According to other management indicators, sales of Web-based assessment tools that
require less additional cost of goods sold, such as the Web Aptitude Test, grew approximately 14%
year over year, accounting for 44% of total sales (compared with about 39% for the corresponding
first-half period a year earlier). As a consequence, we anticipate that sales of such tools will partially
offset an unavoidable decline in earnings owing to the downward revision of projected net sales,1resulting in a decline in projected consolidated ordinary income of ¥28 million, or 3.9% lower thanthe previously released figure.
As a consequence, we intend to revise the relevant projections for the year ending
September 30, 2007, to ¥1,680 million (up 4.8% year over year) in net sales, to ¥700 million (up9.5%) in operating income, to ¥700 million (up 8.4%) in ordinary income and to ¥396 million (up8.2%) in net sales on a consolidated basis.
We do not intend to revise the dividend per share and will distribute an annual dividend
per share of ¥5,400 without adjusting the previously released figure.

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