A member of FASF
August 11, 2008

Summary of Consolidated Operating Results and Financial Position
For the First Quarter ended June 2008
Name of Company:
Stock Code:
Stock Exchange Listing:
URL:
Representative
Title:
Name:
Contact Person
Title:Name:
Tel:
Date of filing

KAGA ELECTRONICS CO., LTD.
8154
Tokyo Stock Exchange, First Section
http://www.taxan.co.jp/
President & COO
Tomohisa Tsukamoto

Senior Managing Director, Finance & Administration Headquarters
Waichiro Shimoyama+81-(0) 3-4455-3111
August 13th, 2008

1. Financial results for the first quarter ended June 2008 (April 1, 2008 – June 30, 2008)(1) Results of operations (consolidated)

First quarter ended June 2008
First quarter ended June 2007

Net sales
MillionYoY
yen Change %―64,43968,933
11.7

Operating income
MillionYoY
yen Change %
―
1,367
1,381
14.5

First quarter ended June 2008
First quarter ended June 2007

Net income per
Net income per share,
share
fully diluted
Yen
Yen
―
16.95
―
23.78

Ordinary income
MillionYoY
yen Change %
―
1,486
1,540
36.8

Net income (1Q)
MillionYoY
yen Change %
―
475
681
18.3

(2) Financial position (Consolidated)
Total assets

Net assets

Equity ratio

Net assets per share

Million yen
Million%YenFirst quarter ended June 2008
120,781
52,27543.3
1,862.57
Fiscal year ended March 2008
130,423
52,19240.0
1,858.26
Note: Shareholders’ equity First quarter ended June 2008 52,260 million yen, Fiscal year ended March 2008 52,140 million yen

2. Dividends
Dividend per shareFirst quarter

Second quarter
Yen
25.00

Yen
―
Fiscal year ended March 2008―
Fiscal year ending March 2009
Fiscal year ending March 2009 (Est.)―
Note: Changes in dividend forecast for the first quarter
None

―
25.00

Third quarter

End fiscal Year

Yen

Yen
25.00

―
―
―

―

Full year
Yen
50.00
―

25.00

50.00

3. Forecast for the fiscal year ending March 2009 (Consolidated, April 1, 2008 to March 31, 2009)
Net sales
Million%Interim
132,000(3.0)
Full year
295,000
1.3
Note: Changes in full year earnings forecast
None

Operating profit
Million
1,700
6,750

%
(40.9)(13.3)(Percentage figures represent year on year changes)
Net income
Ordinary income
Net income
per share
Million% Million
%
Yen
1,850
(35.9)
750
(2.0)
26.73
7,100
0.8
4,100
11.3
146.12

4. Others(1)Changes in significant subsidiaries (Changes in specific subsidiaries accompanied by changes in the scope of consolidation):
None(2)Use of simple method in accounting procedures and application of accounting procedures specific to the consolidated quarterly
financial statements:
None(3)Changes in principles, procedures and representations of accounting treatment in connection with the consolidated quarterly
financial statement (to be highlighted as important changes in completing the consolidated quarterly financial statements:： Yes(a) Change arising from change of accounting standards： Yes(b) Other change
Note: For details, see page 5: Results of operations, Financial Statements, etc., Sub-section 4. Other items (c) Changes in accounting
principles and procedures, presentation methods and other items in the preparation of the quarterly consolidated financial statements(4)Numbers of shares outstanding (common stock)(a)End of period (including treasury stock) First quarter ended June 2008 28,702,118(b)Treasury stock, end of period
First quarter ended June 2008
643,661(c)Average during period
First quarter ended June 2008 28,058,717(consolidated quarter cumulative)

Fiscal year ended March 2008 28,702,118
Fiscal year ended March 2008
643,305
First quarter ended 2007
28,656,860

Cautionary statement regarding forecasts of operating results and special notes
1.
Forecasts regarding future performance in these materials are based on judgments made in accordance with information
available at the time this report was prepared. Forecasts therefore embody risks and uncertainties. Actual results may differ
significantly from these forecasts for a number of factors.
2.
Effective from the current accounting year the Company has adopted “Accounting Standards on Quarterly Financial
Statements” (Corporate Accounting Standard, No. 12) and “Guidelines on Quarterly Financial Statements” (Guidelines on
Corporate Accounting Standards, No. 14) while complying with “Rules on Quarterly Financial Statements”.

Consolidated Operating Results
1. Results of Operations
During the first quarter of the fiscal year, which ends in March 2009, the slowdown of the global economy became
even more pronounced. Major causes were turmoil in U.S. and European financial markets associated with thesubprime loan crisis and the sharp increase in the cost of crude oil and other raw materials. Economic expansion
continued in China and other eastern Asian nations where economies have been growing rapidly. However, theoutlook is becoming more uncertain due to the weakening European and U.S. economies, the high cost of raw
materials and the rising cost of labor.
In Japan, the rising cost of petroleum and other raw materials is pushing up prices of consumer products and manyother items. As a result, signs of an economic downturn are appearing, including stagnant consumer spending andslumping stock prices.
In the electronics industry, the operating environment is challenging because flat sales of cell phones and otherdigital consumer electronics are preventing manufacturers from raising prices to offset the higher cost of raw
materials.
To overcome these challenges, the KAGA ELECTRONICS Group concentrated on benefiting from synergies amonggroup companies, such as by adding new products to the lineup that match customers’ needs. Another priority is theeffective use of subsidiaries.
In the first quarter, consolidated net sales were 64,439 million yen, 6.5% lower than one year earlier. Operating
income decreased 1.0% to 1,367 million yen, ordinary income decreased 3.5% to 1,486 million yen and net income
was down 30.2% to 475 million yen.
Performance by geographic segment was as follows.
a) JapanSluggish consumer spending caused by inflation and other factors held down shipments of digital consumer
electronics, notably high-performance cell phones. The result was a downturn in orders for electronic components
used in these products. Orders from Japanese amusement equipment manufacturers were also lower. Due to thesetrends, sales in Japan decreased 6.4% to 54,760 million yen. Earnings benefited from a strong performance by thedigital visual content production business and the content business associated with copyrights involving amusement
equipment. The result was an 8.6% increase in operating income to 978 million yen.
b) North America
Market conditions in North America remain extremely difficult because the subprime loan crisis and otherdevelopments are fueling concerns about the economic outlook. In addition, consumer spending is sluggish. In thisenvironment, there were declines in sales of semiconductors for digital consumer electronics and parts and otherproducts used in amusement equipment. Due to these factors, sales were down 71.0% to 168 million yen and there
was an operating loss of 29 million yen compared with a 10 million yen loss one year earlier.
c) Europe
Soft consumer spending is impacting economic growth in Europe just as in the United States. However, performancein Europe was supported by strong performances by the EMS business for the supply of products in Europe toJapanese manufacturers of HVAC equipment and automotive devices. Sales increased 336.2% to 1,459 million yen
and there was operating income of 26 million yen compared with a 67 million yen loss one year earlier.
d) Eastern Asia
China’s economy continued to expand along with strength in corporate earnings. But the impact of the global upturnin raw material prices along with higher labor costs in China indicate that China’s economic growth rate is likely todecline. At the KAGA ELECTRONICS Group, there was a downturn in orders in the EMS business for components
used by Japanese manufacturers of HVAC equipment and office equipment. In this region, sales decreased 6.4% to14,594 million yen and operating income was down 39.1% to 338 million yen.

Sales by product

Information equipment
EMS
Semiconductors
General electronic components
Others
Total

First quarter ended June 30, 2007
Million yen%
13,418
19.5
23,10433.5
15,138
22.0
8,627
12.5
8,644
12.5
68,933100.0First quarter ended June 30, 2008
Million yen%
14,74522.9
20,33831.6
14,051
21.8
7,468
11.6
7,836
12.1
64,439100.0

Information equipment
The Group concentrated on increasing sales by reviewing its sales networks and introducing new products. Anotherpriority is strengthening the base of operations by starting businesses associated with information equipment. Due tothese activities, first quarter sales increased 9.9% to 14,745 million yen.
EMS
The Group started an EMS business in Thailand and other countries to supply products to manufacturers ofautomotive devices. But there was a decline in EMS sales to office equipment manufacturers in China. In Japan,
orders from manufacturers of amusement equipment were lower. Overall, EMS sales decreased 12.0% to 20,338
million yen.
Semiconductors
The Group worked on increasing sales of products made by overseas semiconductor device manufacturers. However,there was a decline in sales of sound ICs sold to an overseas cell phone manufacturer that purchases a large volumeof these ICs. There was also a decline in sales of image processing ICs used by Japanese amusement equipment
manufacturers. The result was a 7.2% decrease in sales to 14,051 million yen.
General electronic components
There was steady growth in sales of electronic components used by a major PC manufacturer, a product sector
backed by activities to increase sales. But this growth was outweighed by a decline in sales of electronic
components to amusement equipment manufacturers in Japan. Segment sales were down 13.4% to 7,468 million
yen.
OthersThere were strong performances by the digital visual content production business and the content businessassociated with copyrights involving amusement equipment. On the other hand, sales of chemical film and otherphotography products were lower. Sales decreased 9.4% to 7,836 million yen.

2. Analysis of financial condition
a. Balance sheet
At the end of the first quarter, assets totaled 120,781 million yen, a decrease of 9,641 million yen compared with theend of the previous fiscal year. This was attributable mainly to a decline in trade notes and accounts receivable.
Liabilities increased 83 million yen to 52,275 million yen in the first quarter and there was a 3.3 percentage point
improvement in the equity ratio to 43.3%.
b. Cash flows
There was a net decrease of 525 million yen in cash and cash equivalents to 13,485 million yen. Net cash provided
by operating activities was 2,483 million yen, due in part to the collection of trade receivables. Net cash used ininvesting activities was 1,258 million yen. Cash was used mainly for the purchase of property, plant and equipment
and an increase in short-term loans receivable. Net cash used in financing activities was 1,747 million yen, mainly
for the repayment of short-term loans.

3. Outlook for fiscal 2009
There are no changes to the forecast for consolidated performance that was announced on May 12, 2008.

4. Other items(a) Changes in significant subsidiaries during the period (changes in specific subsidiaries accompanied by a change
in the scope of consolidation)
None(b) Use of simple accounting methods and special accounting methods for preparation of the quarterly consolidated
financial statements
None(c) Changes in accounting principles and procedures, presentation methods and other items in the preparation of thequarterly consolidated financial statements
1. Beginning with the first quarter of the current fiscal year, KAGA ELECTRONICS is applying “AccountingStandard for Quarterly Financial Reporting” (Accounting Standards Board of Japan Statement No. 12) and“Guidance on Accounting Standard for Quarterly Financial Reporting” (Accounting Standards Board of Japan
Guidance No. 14). In addition, the quarterly financial statements were prepared in accordance with “Rules for
Quarterly Financial Statements.”
2. For inventories held for sale in the ordinary course of business, KAGA ELECTRONICS has been using
primarily the cost method based on the specific identification method and the cost method based on themoving-average method. Beginning with the first quarter of the current fiscal year, due to the adoption of“Accounting Standard for Measurement of Inventories” (Accounting Standards Board of Japan Statement No. 9),inventories are valued primarily using the specific-identification cost method (method in which book values arelowered based on declines in profitability) and moving-average cost method (method in which book values arelowered based on declines in profitability). This change reduced first quarter gross profit, operating income,ordinary income and net income by 56 million yen each compared with the previous accounting method. The
effect on segment performance is explained in the segment information section.
3. Beginning with the first quarter of the current fiscal year, KAGA ELECTRONICS has adopted “Accounting
Policies Applied to Foreign Subsidiaries for Consolidated Financial Statements” (Practical Solution Report No.
18) and made the required revisions to the consolidated financial statements. This change had no material effecton earnings.
4. For financial leases other than leases where ownership is transferred, KAGA ELECTRONICS has been using
an accounting method based on the method used for rental transactions. Beginning with the first quarter of the
fiscal year, the company is adopting “Accounting Standard for Lease Transactions” (Accounting Standards
Board of Japan Statement No. 13) and “Guidance on Accounting Standard for Lease Transactions” (AccountingStandards Board of Japan Guidance No. 16) prior to the required use of this standard. The new standard uses theaccounting method for ordinary purchase and sale transactions. This change had no material effect on earnings.

5. Quarterly Consolidated Financial Statements(1) Quarterly balance sheets(Million yen)First quarter ended June 2008 Fiscal year ended March 2008
(ASSETS)
Current assets
Cash and cash equivalent

13,495

14,021

Notes and account receivable-trade61,12072,5308084

Merchandize

15,145

14,178

Product

1,866

1,818

Raw materials

4,924

3,665

384

570

Others

6,322

6,440

Allowance for doubtful receivables

(179)

(161)

103,160

113,147

Buildings and structures

1,394

1,012

Machinery, equipment and vehicles

1,808

1,919

545

552

1,324

1,324

364

606

5,437

5,415

Goodwill

682

745

Software631

593

Others

202

219

1,516

1,559

Investment securities

6,957

6,596

Deferred tax assets

166

213

Others

4,648

4,637

Allowance for doubtful receivables(1,104)(1,146)

Total investments and other assets

10,667

10,301

17,621

17,276

120,781130,423

Marketable securities

Deferred tax assets

Total current assets
Fixed assets
Property, plant and equipment

Molding dies and furniture
Land
Construction in progress
Total property, plant and equipment
Intangible assets

Total intangible assets
Investments and other assets

Total fixed assets
Total assets

First quarter ended June 2008 Fiscal year ended March 2008
(LIABILITIES)Current liabilities
Notes and accounts payable-trade49,21056,109

Short-term bank loans

10,887

11,697

Income tax payable

691

2,238

Allowance for directors’ and corporate auditors’ bonuses

32

137

Others

4,090

4,278

Total current liabilities

64,911

74,461

312

625

Allowance for retirement benefits for employees

1,254

1,159

Allowance for retirement benefits
for directors and corporate auditors

1,021

1,004

Others

1,006

980

Total long-term liabilities

3,594

3,769

68,50678,231

Paid-in capital

12,133

12,133

Capital surplus

13,912

13,912Retained earnings

27,143

27,413

Treasury stock

(843)

(843)

Total owners’ equity

52,34552,615

330

36

0

2

Foreign currency translation adjustments

(415)

(514)

Total valuation and translation adjustments

(84)

(475)

14

51

Total net assets

52,27552,192

Total liabilities and net assets

120,781130,423

Long-term liabilities
Long-term bank loans

Total liabilities(NET ASSETS)
Owners’ equity

Valuation and translation adjustment
Valuation difference on available-for sales securities
Deferred gain or losses on hedges

Minority interests

(2) Quarterly Statements of income(Million yen)First quarter ended June 2008
(April 1, 2008 – June 30, 2008)
Net sales

64,439

Cost of sales

56,338Gross profit

8,101

Selling, general and administrative expenses

6,734

Operating income

1,367

Non-operating income
Interest income

28

Dividend income

48

Gain in foreign exchange

49

Others118

Total non-operating income

246

Non-operating expenses
Interest expense

36

Others89

Total non-operating expenses

126

Ordinary income

1,486

Extraordinary income
Cancellation refund of insurance policies

6

Others1

Total extraordinary income

8

Extraordinary losses
Loss on retirement of fixed assets

8

Loss on impairment of buildings

60

Loss on revaluation of investment securities

121

Others73

Total extraordinary losses

263

Income before income taxes and minority interests

1,231

Income, residential and enterprise taxes

714

Income tax adjustment

76

Total taxes

791

Minority interest in income/loss of consolidated subsidiaries(35)

Net income4753) Quarterly statements of cash flows (Summary)(Million yen)First quarter ended June 2008
(April 1, 2008 – June 30, 2008)
Operating activities
Income before income taxes and minority interest

1,231

Depreciation

330

Goodwill amortization

57

Interest and dividend income(85)Interest paid

36

Gain and loss on investment securities

121

Increase in notes and accounts receivable-trade

11,431

Increase in inventories(2,482)

Increase in non-trade receivables

1,050

Increase (decrease) in notes and accounts payable(6,725)

Others(291)

Sub total

4,675

Increase in advance payments

24Interest and dividend received

83

Interest paid

(35)

Taxes paid

(2,270)

OthersCash flow from operations

7
2,483

Investing activities
Payment for purchase of property, plant and equipment(516)

Payment for purchase of non-tangible assets(132)

Short term loans provided(563)

Long term loans provided(37)

Others(9)Cash flow from investing activities(1,258)Financing activities
Increase (decrease) in short-term bank loans, net(1,137)

Payment of dividends by parent company(599)

Others(10)

Cash flow from financing activities
Effect of exchange rate changes on cash and cash equivalents(1,747)(3)

Increase (decrease) in cash and cash equivalents(525)

Cash and cash equivalents, beginning of period

14,011

Cash and cash equivalents, end of period

13,485Effective from the current consolidated accounting period the Company has adopted “Accounting Standards for
Quarterly Financial Statements” (Corporate Accounting Standard, No. 12) and “Accounting Standards on Financial
Statements” (Guidelines on Corporate Accounting Standards, No. 14) while complying with the “Rules on
Consolidated Quarterly Financial Statements.”(4) Notes on ongoing concern
None.
(5) Segment Information
Operating segment information for the First quarter April 1 – June 30, 2008
Operating segment information is not presented since the KAGA ELECTRONICS Group was engaged in a single
sector generally described as the manufacturing and sale of electronics merchandise and products.
Geographical segment information
The fiscal first quarter (April 1, 2008 – June 30, 2008)(Million yen)Japan
Net sales(1)(of which to outside customers)(2) (of which inter-segment)
Total
Operating income (loss)

N. America

51,263
3,497
54,760
978

101
66
168
(29)

Europe

1,432
26
1,459
26

E. Asia

11,641
2,952
14,594338

Total

Eliminations
orConsolidated
Corporate

64,4396,543
70,982
1,314−(6,543)(6,543)53

64,439−64,4391,367

Notes: 1. Countries and regions are classified according to geographical proximity.
2. Countries and regions outside Japan are broken down into the following geographical areas.
(1) North America: United States(2) Europe: United Kingdom, Czech Republic, Russia(3) East Asia: Hong Kong, Singapore, Taiwan, Korea, China, Malaysia, Thailand
3. Change in accounting(Accounting standards on inventories)
Effective from the current fiscal year the company has conformed to the “Accounting Standard on
Inventory Evaluation” (Corporate Accounting Standard, No 9, July 5th, 2006), which resulted in theoperating profit decline of 56 million yen compared with the previous standard
Overseas sales
Current first quarter (April 1, 2008 – June 30, 2008)(Million yen)
North America

EuropeEast Asia

Total

I Overseas sales
401
1,760
16,041
18,204
II Consolidated sales−−−
64,439III Share of overseas sales in total sales (%)
0.6
2.7
24.9
28.3
Notes: 1. Countries and regions are classified according to geographical proximity.
2. Countries and regions outside Japan are broken into the following geographical area:(1) North America: United States(2) Europe: United Kingdom, Czech Republic, Russia(3) East Asia: Hong Kong, Singapore, Taiwan, Korea, China, Malaysia, Thailand
3. Overseas sales refer to sales posted by the Company and its consolidated subsidiaries in countries andregions outside Japan(6)Notes on significant change in shareholder equity
None

6. Supplementary Information
Notes
Subsequent EventFirst quarter ended June 2008 (April 1, 2008 – June 30, 2008)
Acquisition of stock through a tender offer
The Board of Directors of Kaga Electronics Co., Ltd. (“the Company” hereafter) on June 27, 2008 approved aresolution to acquire through a tender offer up to 51% of the outstanding shares of ADM, Inc. (JASDAQ, 3335, “thetarget company” hereafter). Accordingly, the Company conducted a tender offer from June 30, 2008 through July 28,
2008 and acquired the authorized shares on August 1, 2008. Based on the results of the tender offer (see below) thetarget company became a consolidated subsidiary of the Company.
(1) Objective
The objective of the tender offer is to merge the two group’s technology and marketing divisions to bolster the entire
Group’s semiconductor trading operations. This will contribute to growth and raise corporate value of the Group.
(2) Profile of target company
Name
Activities
Established
Head office
Representative
Capital

ADM, Inc.
Purchase and sale of electronic devices and components
February 6, 1975
2-6-12 Minami-Honmachi, Chuo-ku, Osaka
Hiroo Yamasaki, President and Representative Director
560,330 thousand yen(3) Date of acquisition of stock
August 1, 2008 (Start of settlements of tender offer)(4) Results of tender offer
Shares acquired: 1,647,300 shares
Purchase price per share: 950 yen
Aggregate purchase price: 1,564 million yen
Equity interest prior to purchase: 0%
Equity interest after the purchase: 51.00%(5) Funding and settlement of the purchase
The Company used 1,564 million of its own funds to finance the tender offer. After completion of the tender offer, theCompany promptly sent by postal mail notices of purchase, etc. to the addresses or locations of shareholders, etc. (or toagents for foreign shareholders, etc.) who submitted stock for sale. Purchases were made using cash. Payments for stock
submitted under the tender offer were made promptly by the tender offer agent after the starting date of payments as
instructed by each shareholder, etc. to the location designed by the shareholder, etc. (or the agent for foreign
shareholders, etc.).
(6) Policy following tender offer
Since the tender offer will result in the Company’s acquisition of the majority of the target company’s voting rights, thetarget company will become a consolidated subsidiary of the Company. The board of directors of the target company
will approve a resolution to hold an extraordinary shareholders meeting in September 2008. At this meeting, resolutions
will be submitted for the election of directors and corporate auditors named by the Company. The number of directors
and corporate auditors (including individuals without executive positions at the target company) will be half of the total
number of directors and auditors plus one director and one auditor respectively. A president and representative director
will be selected from among the directors named by the Company. In the alliance contract, the two companies haveagreed on taking the procedures needed to hold the extraordinary shareholders meeting and directors meetings to takethese and other actions. The Company will participate in the management of the target company by sending directors
and in other ways. The objective is to use the alliance to quickly capture synergies that can contribute to growth at bothcompanies and produce other benefits. The Company also plans to build a close and friendly relationship with the target
company based on the spirit of cooperation in order to achieve sustained growth.

Appendix
Financial summary of the quarter ended June, 2007 (April 1 to June 30, 2007)(1) Summary on the consolidated First Quarter profit and loss statement（Million yen）
First quarter ended June 2007
(April 1 to June 30, 2007)
Amount％Ⅰ Sales

68,933100.0

Ⅱ Cost of sales

60,842

88.3

8,090

11.7

6,708

9.7

1,381

2.0

Ⅳ Non-operating income

246

0.3

Ⅴ Non-operating expenses

87

0.1

Ordinary profit

1,540

2.2

Ⅵ Extraordinary income

13

0.0

Ⅶ Extraordinary losses

108

0.1

1,446

2.1

Income, residential and enterprise taxes

674

1.0

Income tax adjustment

107

0.1

Minority interest in income/loss of consolidated subsidiaries

(17)

(0.0)

Net income

681

1.0

Gross profit
Ⅲ Selling, general and administrative expenses
Operating income

Income before income taxes

(2) Quarterly statement of cash flow
(Million yen)First quarter ended June 2007
(April 1 to June 30, 2007)
AmountI Operating activities
Income before income tax and minority interest

1,446

Decrease (increase) in notes and receivables

1,481

Increase (decrease) in inventories(2,189)

Increase in notes and accounts payable

279

Others(278)

Sub-total

738

Income tax paid
OthersNet cash provided by (used in) operating activities(1,675)(213)(1,149)Ⅱ Investing activities
Payment for purchase of property, plant and equipment(327)

Others(269)

Net cash provided (used in) investing activities(596)

Ⅲ Financial activities
Increase (decrease) in short-term bank loans, net

4,342

Payment for reduction of long-term loans(660)

Payment of dividends by parent company(616)

Others(8)

Net cash provided by (used in) financing activities

3,057

Ⅳ Effect of exchanges on cash and cash equivalents

286

Ⅴ Increase (decrease) in cash and cash equivalents

1,597

Ⅵ Cash and cash equivalents, beginning of period

14,558

Ⅶ Cash and cash equivalents, end of period

16,155

(3) Segment Informationa) Operating segment information, the first quarter ended June 2007 (April 1, 2007−June 30, 2007)
Operating segment information is not presented since the KAGA ELECTRONICS Group was engaged in a single
sector generally described as the manufacturing and sale of electronics merchandise and products.
b) Geographical segment information
The first quarter ended June 2007 (April 1, 2007−June 30, 2007)(Million yen)
Eliminations
Japan

N.America

EuropeE.AsiaTotal

orConsolidated

Corporate
Net sales(1)(of which to outside customers)

54,580409

290

13,652

68,933−68,933(2)(of which inter-segment)

3,948

171

44

1,932

6,096

(6,096)−

Total

58,529581

334

15,58575,030(6,096)

68,933Operating expenses

57,628592

401

15,02973,651(6,100)67,551

900

(10)

(67)

555

1,378

3

1,381

Operating income (loss)

Notes: 1. Countries and regions are classified according to geographical proximity.
2. Countries and regions outside Japan are broken down into the following geographical areas.
(1) North America: United States(2) Europe: United Kingdom, Czech Republic, Russia(3) East Asia: Hong Kong, Singapore, Taiwan, Korea, China, Malaysia, Thailandc) Overseas sales
The first quarter ended June 2007 (April 1, 2007 – June 30, 2007)(Million yen)
North America

EuropeEast Asia

Total

I. Overseas sales
526
627
16,124
17,278
II. Consolidated sales−−−
68,933
III. Share of overseas sales in total sales (%)
0.8
0.9
23.4
25.1
Notes: 1. Countries and regions are classified according to geographical proximity.
2. Countries and regions outside Japan are broken into the following geographical area:(1) North America: United States(2) Europe: United Kingdom, Czech Republic, Russia(3) East Asia: Hong Kong, Singapore, Taiwan, Korea, China, Malaysia, Thailand
3. Overseas sales refer to sales posted by the Company and its consolidated subsidiaries in countries andregions outside Japan