SHL-JAPAN Ltd.
Year Ending September 2013
Non-consolidated Financial and Operating Results (Excerpt) for the First Quarter EndedDecember 31, 2012 (J-GAAP basis)
January 30,2013

 Registered on Osaka Securities Exchange

Listed Company Name: SHL-JAPAN Ltd.
Securities Code4327

URL:

http://www.shl.co.jp/

Representative:

Manabu Nara, Managing Director

Contact:

Naohiro Nakamura, Executive Director

Date to submit the Quarterly Securities Report:

February 14,2013

Date to start distributing dividends:-TEL:+81-3-5385-8781

The original disclosure in Japanese was released on January 30, 2013 at 15:15 (GMT+9)(1) Qualitative information regarding operating results
During the first quarter of the year ending September 30, 2013 (October 1, 2012 throughDecember 31, 2012), net sales of SHL-JAPAN Ltd. (the “Company”) increased ¥15 million, or
5.9% year over year, to ¥282 million. By business segment, “Product sales” advanced 16.8% to¥124 million, whereas “Consultancy sales” decreased 0.8% to ¥154 million and “Training sales”
dropped 18.4% to ¥3 million. A major contributor to the year-over-year increase in net sales forthe first quarter was favorable sales of our products overall, which are used for the screening of
new graduates.
The Company is confident that the increase in revenue for the first quarter was mainly
attributable to our efforts in response to customer feedback in view of the forward-looking
posture of corporations toward employment, on which the media has reported an increase for thethree consecutive years in the number of new graduates employed and a steady perspective on
midcareer recruiting. Moreover, we had successful follow-up activities with customers for which
our service provision was postponed from the previous fiscal year in compliance with theindustry’s self-imposed controls on the screening of new graduates (under which industry groups
agree not to start the screening process for new graduates prior to a fixed date in view ofacademic schedules for students).
Operating income for the quarter under review totaled ¥37 million (up 2.1 times year overyear). Selling, general and administrative expenses increased by ¥6 million, or 3.5% year overyear, to ¥200 million. Nevertheless, operating income increased by ¥19 million year over year
because the cost of goods sold decreased by ¥10 million, or 19.6%, to ¥44 million in addition tothe increase in revenue. The decrease in the cost of goods sold was primarily attributable to the㪄㩷㪈㩷㪄

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year-over-year reduction in deliveries of our products ordered. The increase in selling, generaland administrative expenses was mainly attributable to year-over-year increases of sales
promotion related expenses, personnel expenses and research and development expenses.
Ordinary income for the quarter under review totaled ¥37 million (up 2.1 times year overyear) with a year-over-year increase of ¥19 million. This figure was almost the same as
operating income because both non-operating income and non-operating expenses were small.
Income before income taxes for the quarter under review totaled ¥81 million (up 12.6 times
year over year). Income before income taxes increased by ¥74 million year over year mainly due
to insurance income of ¥52 million arising from the death of a director under extraordinary gains
in addition to the increase in ordinary income. The extraordinary gains were partly offset bydirectors’ retirement benefits of ¥7 million under extraordinary losses, a year-over-year decreaseof ¥3 million.
After taking into account the above factors and income taxes-current and income
taxes-deferred, net income for the quarter under review amounted to ¥48 million (up 12.9 times
year over year), a year-over-year increase of ¥45 million.

(2) Qualitative information regarding business forecasts
As the effects of self-imposed controls regarding employment of new graduates have beenwholly experienced and given the forward-looking posture of corporations toward employment,
the domestic market for screening and employment is anticipated to become increasingly
buoyant in the second and subsequent quarters, as mentioned earlier in (1) Qualitative
information regarding operating results.
We continuously intend to increase our operating performance through focused efforts ontapping new customers and addressing customer needs swiftly and precisely.
Under the recognition described above and based on our analysis of the operating results,financial position and other managerial administrative data for the first quarter ended December
31, 2012, followed by our careful consideration of business forecasts, the Company is not at thistime revising its financial forecasts for the year ending September 30, 2013, which were releasedon October 25, 2012.

Note: The Company, at its Board of Directors meeting held on November 22, 2012, resolved theadoption of share unit system effective from April 1, 2013, according to which one share held byshareholders shall be split into 100 shares, setting the size of a share unit at 100 shares. The
recalculation of net income per share, supposing this stock split had been conducted at thebeginning of the fiscal year ending September 2013 (or October 1, 2012), resulted in no
substantial difference.

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* Implementation status of quarterly review proceduresThis financial results summary is not subject to quarterly review procedures under the Financial
Instruments and Exchange Act, and the quarterly financial statement review procedures based on the Act
were in progress at the time of the disclosure of these financial results.

* The forward looking statements regarding financial results forecasts, etc. appearing in this financial
results summary have been prepared based on information currently available to the Company andcertain assumptions that the Company believes to be reasonable. The Company makes no guarantees asto their realization. Actual financial results may differ substantially from the forecasts due to variousfactors.

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