Summary(Translation)
Fields Corporation

Summary of Financial Information and Business Results
for the Nine Months Ended December 31, 2006 (Consolidated)(Year Ending March 31, 2007)
February 8, 2007

Company Name:

Fields Corporation(URL: http://www.fields.biz)
JASDAQ (Stock code: 2767)
Tokyo
Hidetoshi Yamamoto
President, Representative Director and CEO
Hiroyuki Yamanaka
Director and General Manager, Planning and Administration Division
Tel: (03) 5784-2111

Listed on:
Head Office:Inquiries:

1. Matters related to the preparation of the quarterly financial information(1) Adoption of a simplified accounting method: Yes;
The Company has adopted a simplified method in calculating income taxes.
(2) Change in accounting method compared with the most recent fiscal year: None
(3) Change in scope of consolidation and application of the equity method: Yes;
Consolidation (newly consolidated): 3 companies
2. Business results for the nine months ended December 31, 2006 (April 1 to December 31, 2006)(1) Operating results(Rounded down to the nearest million yen)
Net sales
Operating income
Ordinary income
Nine months ended
December 31, 2006
Nine months ended
December 31, 2005
Year ended
March 31, 2006

Millions of yen(% change)

Millions of yen(% change)

Millions of yen(% change)

64,144(45.9)

4,696(245.5)5,041(187.4)

43,957

(7.1)

1,359

(-58.1)

1,754(-48.4)

96,814

12,348Net income
Nine months ended
December 31, 2006
Nine months ended
December 31, 2005
Year ended
March 31, 2006

13,127

Net income per share

Diluted net income per share

Millions of yen(% change)

Yen

Yen

2,295

(236.0)6,615.33−

683(-66.2)

1,968.81−

20,118.14

−

7,085

Notes:
1. Average number of shares outstanding (consolidated)
Nine months ended December 31, 2006: 347,000
Nine months ended December 31, 2005: 347,000
Year ended March 31, 2006:
347,000
2. Percentages for net sales, operating income, ordinary income and net income denote changes compared withthe corresponding nine-month period of the previous fiscal year.

1(2) Financial position

Nine months ended
December 31, 2006
Nine months ended
December 31, 2005
Year ended
March 31, 2006

Shareholders’ equity
ratio

Total assets

Net assets

Net assets per share

Millions of yen

Millions of yen％

Yen

66,49041,59660.1

115,191.56

47,55833,31770.0

96,014.71

87,556

39,411

45.0

113,275.37[Cash flows]

Nine months ended
December 31, 2006
Nine months ended
December 31, 2005
Year ended
March 31, 2006

Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents atperiod-end

Millions of yen

Millions of yen

Millions of yen

Millions of yen

8,419(2,540)1,342

23,0355,836(2,423)(1,145)

15,6036,164(2,224)(1,540)15,777

3. Forecast earnings for the year ending March 31, 2007 (April 1, 2006, to March 31, 2007)
Net sales
Ordinary income
Net income
Full year

Millions of yen

Millions of yen

Millions of yen

109,880

14,1507,480(Reference) Projected net income per share for the year ending March 31, 2007 (full-year): ¥21,556.20
As for the above forecast earnings for the year ending March 31, 2007, the Company intends not to revise the values
stated in the Notice on the Revisions to Performance Projections (Consolidated)” released on October 30, 2006.

2

Operating Results and Financial Position
1. Operating results and information on progress
PS Field(Pachinko machine sales business)
Sales of collaborating pachinko machine manufacturers generally expanded steadily. The Company released Bisty’s
new CR WINK pachinko machine, which features the idol Duo, and Sammy Corporation’s CR Salaryman Kintaro ,which is based on a popular cartoon of the same title by Hiroshi Motomiya. Sammy Corporation’s CR SEACOP, whichfeatures two popular idols, was delivered in December 2006. Although CR SEACOP was released during the third
quarter, ended December 31, 2006, the Company’s sales accounting standards require sales of the product to be
included in the fourth quarter of the fiscal year ending March 31, 2007.
As a result, the number of pachinko machine units sold during the third quarter totaled 42,026 for the two new models,
resulting in a 42.3% sales decrease compared with the 72,884 sold in the third quarter of the previous year.
The cumulative total of pachinko machine units sold during the nine-month period from April 1, 2006, to December 31,
2006, was 165,297 for six new models, resulting in a 12.3% increase compared with 147,228 sold in the same period
the previous year.
(Pachislot machine sales business)
Sales of collaborating pachislot machine manufacturers were solid. Delivery of Bisty’s Tomb Raider began on October 1,
2006, and sales of approximately 40,000 units were accounted for during the second quarter, whereas sales of another
20,000 units were recorded for the third quarter. Cumulatively, approximately 60,000 units of Tomb Raider were sold in
total.
To address the trend of replacing old regulation machines with new regulation ones in the pachislot machine market, theCompany launched Bisty’s ROCKY BALBOA, which is based on the popular film series, and Rodeo’s Dokaben, which
is based on Shinji Mizushima’s baseball cartoon. In line with the new model releases, we continued our “We Love
Pachislot Campaign” to boost the pachislot market, reach potential new customers, and promote sales activities.
As a result, the number of pachislot machine units sold during the third quarter totaled 29,724 for the three new models,
resulting in an 83% increase compared with the 16,242 sold for the third quarter of the previous year.
The cumulative total of pachislot machine units sold during the nine-month period from April 1, 2006, to December 31,
2006, was 136,260 for six new models, resulting in a 34.5% increase compared with the 101,285 sold in the same
period the previous year.

Game Field
D3 Inc., an important consolidated subsidiary in this business segment, had favorable sales.
In the domestic consumer business, we released 11 titles in succession for the SIMPLE Series during the third quarter(26 titles for the nine-month period). The target audience for this low-priced game software is the casual user. The series
includes the SIMPLE DS Series for the Nintendo DS, and sales of that hardware unit are expanding. Given the
popularity of THE Chikyu Boeigun 2 and THE Onechambara, both of which are part of the SIMPLE Series, we released
newer versions—Chikyu Boeigun 3 and Onechambara vorteX—that are compatible with the Xbox360. We also released
six titles (12 for the nine-month period) of full-priced game software products targeting core game users. These
included Mermaid Prism, which is targeted at women; the pachinko and pachislot simulation software CR Fever
Powerful ZERO as well as CR Aya Matsuura.
As a result, the number of game software products sold during the third quarter totaled 380,000 for 17 new titles.
The cumulative total of game software products sold in Japan during the nine-month period from April 1, 2006, toDecember 31, 2006, was 1,150,000, for 38 new titles.
In the mobile phone business, we launched the SIMPLE500 Series via fee-based downloading with rich game content
for mobile phones. Beginning with THE Chikyu Boeigun Mobile, the Company has sought to gain new users of mobile
games and utilize our skills to find multiple uses for content nurtured in the consumer business. We introduced astructure for a steady and flexible profitability by shifting the low-priced game content of the SIMPLE100 Series, forwhich some mobile phone carriers were charged for downloading, to a monthly billing system for all carriers.
Delivering new game content of the series every month and releasing new applications of the monthly fee-based
Kochira Munekyun Otome for women steadily expanded the number of subscribers.
For the development of our North American overseas business, we released Flushed Away, the first game with global
content, and shipped 470,000 units. We also released NARUTO 2 for use with the Game Boy Advance in October 2006.
In total, 300,000 NARUTO products were shipped (those for two titles). In Europe, we also released Flushed Away andshipped 360,000 products.
Consequently, the number of game software products sold overseas during the third quarter totaled 1,260,000, which
consisted of 830,000 for four new titles in North America and 420,000 in Europe.
The cumulative total of game software products sold overseas during the nine-month period from April 1, 2006, to

3

December 31, 2006, totaled 1,910,000, consisting of 1,450,000 for 12 new titles in North America and 450,000 in
Europe.

Other Fields
Japan Sports Marketing Inc., a leading consolidated subsidiary, reviewed and overhauled its fee structure for a total
workout and added new programs, beginning in September 2006. However, performance was sluggish mainly because
total membership and the demand for personal training slightly declined compared with the end of the interim term.

As a result, for the nine-month period, ended December 31, 2006, net sales increased ¥20,187,010 thousand or 45.9%
from the year-earlier period, to ¥64,144,435 thousand.
Operating income jumped 3,337,415 thousand or 245.5% year-over-year, to ¥4,696,745 thousand.
Ordinary income rose ¥3,287,447 thousand or 187.4%, to ¥5,041,650 thousand.
Net income surged ¥1,612,339 thousand or 236.0% from a year earlier, to ¥2,295,518 thousand.

2. Financial position
Cash Flow Analysis
Cash and cash equivalents at the end of the nine months ended December 31, 2006, amounted to ¥23,035,843 thousand(up 46.0% year over year), representing an increase of ¥7,258,529 thousand from the end of the previous fiscal year,with income before income taxes of ¥5,107,332 thousand. Contributing factors were a decline in notes and accounts
receivable—trade, a decrease in notes and accounts payable—trade, expenditures for the purchase of fixed assets, andan increase in borrowings.
Cash flows from operating activities
Net cash provided by operating activities totaled ¥8,419,833 thousand (up 36.6% year over year). The principal
components of this were a decline of ¥607,100 thousand in retirement benefits for directors and auditors, a decrease of¥32,779,308 thousand in notes and accounts receivable—trade, an increase of ¥1,378,959 thousand in inventories, adecline of ¥21,758,239 thousand in notes and accounts payable—trade and income taxes paid of ¥6,815,652 thousand.
Cash flows from investing activities
Net cash used in investing activities totaled ¥2,540,244 thousand (up 14.2% year over year). The principal factors were
the purchase of tangible fixed assets totaling ¥366,926 thousand, purchase of intangible fixed assets totaling ¥894,601
thousand, and purchase of investment securities totaling ¥1,108,846 thousand.
Cash flows from financing activities
Net cash provided by financing activities amounted to ¥1,342,464 thousand (— year over year). This was primarily
attributable to an increase in short-term borrowings of ¥1,081,364 thousand, proceeds from long-term borrowings
totaling ¥1,633,019 thousand (net), and cash dividends paid totaling ¥1,321,919 thousand.

3. Forecast for the full year
PS Field(Pachinko machine sales business)
Regarding our activities for the fourth quarter, from January 1, 2007, to March 31, 2007, we launched CM and otherpromotional activities at the end of December 2006, and introduced Bisty’s CR Neon Genesis Evangelion–Kiseki no
Kachiwa on January 29,2007, which is the third series to use major copyright licensing, and orders received are
expanding. We plan to release CR Project Minerva, featuring the actress Norika Fujiwara, featuring D3 Inc.’s gamecontent, as the first series of pachinko machine models developed through a business alliance with Olympia Co., Ltd.
(Pachislot machine sales business)
We are observing a clear trend of replacing old regulation machines with new regulation ones in the pachislot machine
market. The new machines will provide richer enjoyment with a full range of game factors compared with old
regulation machines simply for the number of jackpots. During the fourth quarter, the Company simultaneously released
five machine models that conform to the regulations of the Security Electronics and Communications Technology
Association. We believe our new models will not only contribute to the planned replacement of machines in pachinkohalls but also draw more customers as the new regulation machines have clear themes based on characteristics and4special tastes represented by characters and content. For example, pachinko halls can install Tokon Corner (Corner for
pachislot machines with theme of fighting), which targets martial arts fans with the following lineup of pachislot
machine models: PREMIUM Dynamite, to be released in the fourth quarter; ROCKY BALBOA, released during the third
quarter, and other manufacturers’ machines that feature martial arts themes. Another corner will focus on such Gakuen
Seishunmono (Corner for pachislot machines featuring high Scholl) as Sakigake!! Otoko juku, GTO and Dokaben,which are popular among pachislot machine fans.

Game Field
In the consumer business conducted by D3 Inc., which is an important consolidated subsidiary of Game Field, four titlesof full-priced game software are planned for release, including VitaminX for women and CR Fever Captain Harlock forpachinko and pachislot fans. By completing the low-priced game software SIMPLE Series with the release of five newtitles and promoting sales of existing products, we intend to achieve higher sales.
In the mobile business, we will take measures to further increase subscribers of the SIMPLE100 Series and Kochira
Munekyun Otome and to enrich the content of the SIMPLE500 Series for which delivery was recently started to all
mobile phone carriers.
At Tokyo Game Show 2006, the Chikyu Boeigun 3 for the Xbox360 drew a great deal of attention from foreign gameusers. The Company plans to develop it as Earth Defense Force 2017 (tentative title) in North America.

5

(Attached document)
1. Summary Consolidated Balance Sheets
PeriodItem

Nine months ended
December 31, 2005
(As of December 31, 2005)
Amount% totalNine months ended
December 31, 2006
(As of December 31, 2006)
Amount% total%%AssetsⅠ(Thousands of yen)
For reference:Previous fiscal year
(As of March 31, 2006)
Amount% total%Current assets
1.
2.

15,603,915

23,036,843

15,777,313

5,616,662

14,703,152

46,385,995

3.

Cash and cash equivalents
Notes and accounts
receivable—trade
Inventories

346,441

3,029,893

1,568,986

4.

Merchandising right advances

3,743,765

−

−

5.
6.

Other current assets
Allowance for doubtful
accounts
Total current assets

4,541,973

6,876,127

6,296,702(33,533)(49,530)(149,225)

29,819,225

62.7

47,596,485

71.6

69,879,772

79.8

Tangible fixed assets

4,729,105

9.9

4,616,613

6.9

4,689,155

5.4

2.

Intangible fixed assets

3,340,306

7.0

3,367,790

5.1

2,752,383

3.1

3.

Investments and other assets:(1)

Investment securities

6,380,470

7,030,619

6,991,655(2)(3)

Other assets
Allowance for doubtful
accounts
Total investments and otherassetsTotal fixed assets

3,512,173

4,032,981

3,398,027(222,554)(153,931)(154,461)

17,739,501

37.3

Total assets

47,558,726

100.0

Ⅱ

Fixed assets
1.

9,670,089

20.4

6

10,909,669

16.4

10,235,222

11.7

18,894,073

28.4

17,676,761

20.2

66,490,558

100.0

87,556,534

100.0

(Thousands of yen)
PeriodItem

Nine months ended
December 31, 2005
(As of December 31, 2005)
AmountLiabilities
Ⅰ Current liabilities
1. Accounts payable—trade
2. Short−term borrowings
3. Current portion oflong−term debt
4. Corporate bonds redeemablewithin one year
5. Accrued bonuses
6. Accrued bonuses to directors
and auditors
7. Other current liabilities
Total current liabilities
Ⅱ Long−term liabilities
1. Corporate bonds
2. Long−term debt
3. Retirement benefit provisions
4. Reserve for retirement benefits
for directors and auditors
5. Other long−term liabilities
Total long−term liabilities
Total liabilities
Minority interests
Minority interests inconsolidated subsidiaries
Shareholders’ equity
Ⅰ Common stock
Ⅱ Capital surplus
Ⅲ Retained earnings
Ⅳ Unrealized holding gain on
available−for−sale securities
Ⅴ Foreign currency translation
adjustment
Total shareholders’ equity
Total liabilities, minority
interests and shareholder’sequityNet assets
Ⅰ Shareholders’ equity
1. Common stock
2. Capital surplus
3. Retained earnings
Total shareholders’ equity
Ⅱ Valuation and translationdifferences
1. Other valuation difference on
available−for−sale securities
2. Foreign currency translation
adjustment
Total valuation and translation
adjustment
Ⅲ Minority interests
Total net assets
Total liabilities and net assets% total%Nine months ended
December 31, 2006
(As of December 31, 2006)
Amount% total%For reference:Previous fiscal year
(As of March 31, 2006)
Amount% total%5,143,660
430,000

12,872,723
1,834,200

34,869,095
730,000

232,068

935,568

214,668

50,000120,000

110,000

9,652

6,500

25,000−50,000−2,527,664
8,393,046

17.7

4,457,701
20,276,693

30.5

6,577,747
42,526,511

550,000
430,664
165,242430,000
1,465,002
186,706

490,000
366,997
162,648592,200−

607,100

48.6

2,350,866
4,088,973
12,482,019

8.6
26.3

2,536,150
4,617,859
24,894,552

6.9
37.4

2,380,985
4,007,730
46,534,242

4.6
53.2

1,759,601

3.7

−

−

1,610,739

1.8

7,948,036
7,994,953
16,716,385

16.7
16.8
35.1

−
−
−

−
−
−

7,948,036
7,994,953
22,726,469

9.1
9.1
26.0

648,455

1.4−−

735,622

0.8

9,276

0.0

−

−

6,470

0.0

33,317,106

70.0

−

−

39,411,552

45.0

47,558,726

100.0

−

−

87,556,534

100.0

−

7,948,036
7,994,953
23,528,988
39,471,977

59.4

−
−
−
−

−

−
−
−
−

−

485,012−−

14,483−−−

499,495

0.7

−

−

−
−
−

−
−
−

1,624,533
41,596,006
66,490,558

2.5
62.6
100.0

−
−
−

−
−
−

7

2. Summary Consolidated Statements of Income(Thousands of yen)
PeriodItem

Nine months ended
December 31, 2005
(April 1−December 31,
2005)
Amount64,144,435
44,811,977
19,332,458% sales
%
100.0
69.9
30.1

28.1

14,635,712

1,359,330

3.1

Ⅳ Non−operating income
Ⅴ Non−operating expenses
Ordinary income

428,075
33,203
1,754,203

Ⅵ Extraordinary income
Ⅶ Extraordinary losses
Income before income taxes
Current income taxes
Deferred income taxes
Minority interests
Net income

162,809
207,943
1,709,068
1,176,107(147,447)(2,769)683,178

Ⅰ Net sales
Ⅱ Cost of sales
Gross profit
Ⅲ Selling, general and administrative
expenses
Operating income

43,957,425
30,255,387
13,702,037% sales
%
100.0
68.8
31.2

12,342,707

Nine months ended
December 31, 2006
(April 1−December 31,
2006)

96,814,364
67,077,197
29,737,167% sales
%
100.0
69.3
30.7

22.8

17,389,011

17.9

4,696,745

7.3

12,348,156

12.8

1.0
0.1
4.0

397,952
53,047
5,041,650

0.6
0.0
7.9

828,495
48,966
13,127,685

0.9
0.1
13.6

0.4
0.5
3.9
2.7
(0.3)
0.0
1.5

152,006
86,324
5,107,332
2,570,328
228,765
12,7202,295,518

0.2
0.1
8.0
4.0
0.4
0.0
3.6

218,451
311,254
13,034,882
6,588,353(383,530)(255,935)
7,085,994

0.2
0.3
13.5
6.8
(0.4)
(0.2)
7.3

8

AmountFor reference:Previous fiscal year
(April 1, 2005−March 31,
2006)
Amount3. Summary Consolidated Statements of Cash Flow
(Thousands of yen)

PeriodItem

Nine months ended
Nine months ended
For reference:
December 31, 2005
December 31, 2006
Previous fiscal year
(April 1−December 31, (April 1−December 31, (April 1, 2005−March
2005)
2006)
31, 2006)
AmountⅠ Cash flows from operating activities
1. Income before income taxes
2. Depreciation and amortization
3. Impairment loss
4. Depreciation on consolidation adjustment
account
5. Amortization of goodwill
6. Increase (decrease) in allowance for doubtful
accounts
7. Increase in accrued bonuses
8. Increase in accrued bonuses to directors andauditors
9. Increase (decrease) in retirement benefit
provisions
10. Increase (decrease) in reserve for retirement
benefits for directors and auditors
11. Interest and dividend income
12. Equity method investment gain
13. Interest expense
14. Corporate bond issuance expense
15. Stock issuance expense
16. Gain on sale of fixed assets
17. Gain on investment in anonymous
association
18. Loss on disposal of fixed assets
19. Valuation loss on investment securities
20. Valuation loss on equity investment
21. Loss on sale of investment securities
22. Decrease (increase) in notes and accounts
receivable−trade
23. Decrease (increase) in inventories
24. Decrease (increase) in merchandising rightadvances
25. Decrease (increase) in prepaid expenses
26. Decrease in advance payments
27. Decrease (increase) in notes held
28. Decrease in non−operating notes receivable
29. Decrease (increase) in deposits as security
for dealing
30. Increase (decrease) in notes and accounts
payable—trade
31. Increase (decrease) in accrued consumption
taxes
32. Decrease in deposits received
33. Increase in deposits held
34. Bonuses to directors and auditors
35. Others
Subtotal
36. Interest and dividends received
37. Interest paid
38. Income taxes paid
Net cash provided by operating activities

AmountAmount

1,709,068
897,00256,8195,107,332
616,942
44,345

13,034,882
1,237,274
56,819106,761−

261,807−

340,062−(36,443)(100,223)(55,454)(10,347)(18,500)

2,688−

50,000−26,102

24,057(3,100)23,500(607,100)

38,400(35,532)(77,154)
17,1022,400
803(125,462)(68,951)−
40,679−−(605)(42,219)(429,179)
23,8752,400
872(147,314)(29,728)(37,808)(64,081)

106,899
4,320
22,609
5,748

5,451
−
−
−

115,194
4,320
22,6095,855

31,986,304

32,779,308(9,135,880)

81,044(1,378,959)(1,085,496)(431,011)

676,204(203,728)(598,429)(2,345)46,198699,831(545,024)
101,804
70,763
41,669147,235
5,838(19,670)
377,620(96,993)

20,000(30,832)(22,734,796)(21,758,239)

7,492,695(311,615)(299,974)

177,473

104,898(27,743)(105,000)
30,29011,305,101
69,365(16,244)(5,521,396)
5,836,825(167,057)
155,165(105,000)
203,634
15,189,976
92,028(46,518)(6,815,652)
8,419,833(55,878)
2,375(105,000)
644,143
12,276,545
74,320(24,024)(6,162,055)
6,164,786

9

Period
Item

Nine months ended
Nine months ended
For reference:
December 31, 2005
December 31, 2006
Previous fiscal year
(April 1−December 31, (April 1−December 31, (April 1, 2005−March
2005)
2006)
31, 2006)
AmountⅡ Cash flows from investing activities
1. Increase in time deposits
2. Proceeds from cancellation of time deposits
3. Proceeds from sale of marketable securities
4. Purchases of property and equipment
5. Proceeds from sale of property and equipment
6. Purchases of intangible fixed assets
7. Purchases of investment securities
8. Proceeds from sale of investment securities
9. Purchases of investment securities ofsubsidiaries and affiliates
10. Proceeds from (expenditure on) acquiring
newly consolidated subsidiaries
11. Proceeds from sale of shares of subsidiaries
on change to scope of consolidation
12. Expenditure for equity investment
13. Expenditure for loans
14. Collection on loans (receivable)
15. Payments for long−term prepaid expenses
16. Payments for deposits and guarantees
17. Proceeds from refund of deposits andguarantees
18. Payments for insurance reserve
19. Others
Net cash used in investing activities
Ⅲ Cash flows from financing activities
1. Increase (decrease) in short−term borrowings
2. Proceeds from long−term borrowings
3. Repayment of long−term borrowings
4. Proceeds from issuance of corporate bonds
5. Redemption of corporate bonds
6. Proceeds from payments by minority
shareholders
7. Cash dividends paid
Net cash provided by (used in) financing
activities
Ⅳ Effect of exchange rate changes on cash andcash equivalents
V Increase in cash and cash equivalents
VI Cash and cash equivalents at beginning of
periodⅦ Increase in cash and cash equivalents due tochange in scope of consolidation
Ⅷ Cash and cash equivalents at end of period

AmountAmount−−5,000(690,405)
361,069(617,316)(720,000)−(1,400)93,081−(366,926)
5,960(894,601)(1,108,846)
529,328−−
5,000(784,621)
395,924(702,484)(920,000)
551,585(300,000)(50,000)(300,000)(662,560)(9,065)(662,560)

8,914

−

8,914

−
(209,450)
220,198(46,616)(14,074)(126,000)(23,998)
43,438(8,272)(349,071)−(215,650)
303,461(48,271)(304,686)

241,93135,546259,448(683)
56(2,423,936)(819)(308,599)(2,540,244)(1,092)
190,418(2,224,610)(220,200)−
262,201
97,600−1,081,364
2,000,000(366,980)−(50,000)

79,800−(343,268)
97,600−206−

10,319(1,284,808)(1,321,919)(1,384,996)(1,145,001)

1,342,464(1,540,544)

8,383

36,28750,0372,276,270

7,258,341

2,449,668

13,326,256

15,777,313

13,326,256

1,388

188

1,388

15,603,915

23,035,843

15,777,313

10

Summary(Translation)
Fields Corporation

Summary of Financial Information and Business Results
for the Nine Months Ended December 31, 2006 (Non−consolidated)(Year Ending March 31, 2007)
February 8, 2007

Company Name:

Fields Corporation(URL: http://www.fields.biz)
JASDAQ (Stock code: 2767)
Tokyo
Hidetoshi Yamamoto
President, Representative Director and CEO
Hiroyuki Yamanaka
Director and General Manager, Planning and Administration Division
Tel: (03) 5784−2111

Listed on:
Head Office:Inquiries:

1. Matters related to the preparation of the quarterly financial information(1) Adoption of a simplified accounting method: Yes;
The Company has adopted a simplified method in calculating income taxes.
(2) Change in accounting method compared with the most recent fiscal year: None
2. Business results for the nine months ended December 31, 2006 (April 1 to December 31, 2006)(1) Operating results(Rounded down to the nearest million yen)
Net sales
Operating income
Ordinary income
Millions of yen (% change) Millions of yen (% change) Millions of yen (% change)
Nine months ended
53,173(39.1)
5,046(318.6)
5,411(258.7)
December 31, 2006
Nine months ended
38,234(−3.8)
1,205(−64.2)
1,508(−55.2)
December 31, 2005
Year ended
88,251
12,497
12,836
March 31, 2006
Net income
Millions of yen (% change)
Nine months ended
December 31, 2006
Nine months ended
December 31, 2005
Year ended
March 31, 2006

Net income per share

Diluted net income per share

Yen

Yen

3,050

(271.8)8,792.07−

820(−59.9)2,364.43−

19,681.88

−

6,934

Notes: 1. Average number of shares outstanding
Nine months ended December 31, 2006: 347,000
Nine months ended December 31, 2005: 347,000
Year ended March 31, 2006:
347,000
2. Percentages for net sales, operating income, ordinary income and net income denote changes compared withthe corresponding nine−month period of the previous fiscal year.

11(2) Financial position

Nine months ended
December 31, 2006
Nine months ended
December 31, 2005
Year ended
March 31, 2006

Shareholders’ equity
ratio

Net assets per share

Total assets

Net assets

Millions of yen

Millions of yen％

Yen

56,83840,54971.3

116,857.49

42,93933,04076.9

95,218.97

82,304

39,242

47.7

112,787.63

3. Forecast earnings for the year ending March 31, 2007 (April 1, 2006, to March 31, 2007)

Full year

Net sales

Ordinary income

Net income

Millions of yen

Millions of yen

Millions of yen

93,81014,0207,610(Reference) Projected net income per share for the year ending March 31, 2007 (full−year): ¥21,930.84
As for the above forecast earnings for the year ending March 31, 2007, the Company intends not to revise the values
stated in the Notice on the Revisions to Performance Projections (Non−consolidated)” released on October 30, 2006.

12

Summary Non−Consolidated Balance Sheets(Thousands of Yen)
PeriodNine months ended
December 31, 2005
(As of December 31, 2005)

Nine months ended December
31, 2006(As of December 31, 2006)

For reference:Previous fiscal year
(As of March 31, 2006)

Item
AmountAssetsⅠ Current assets
1. Cash and cash equivalents
2. Notes receivable—trade
3. Accounts receivable—trade
4. Inventories
5. Merchandising right advances
6. Other current assets
7. Allowance for doubtful
accounts
Total current assets
Ⅱ Fixed assets
1. Tangible fixed assets
2. Intangible fixed assets
3. Investments and other assets:(1) Investment securities(2) Investments in subsidiaries
and affiliates(3) Other assets(4) Allowance for doubtful
accounts(5) Allowance for investment
lossesTotal investments and otherassetsTotal fixed assets
Total assets% total%Amount% total%Amount13,104,624
2,584,833
1,946,423
122,836
3,743,765
3,470,886

19,456,588
8,082,002
3,182,056
414,972
2,986,127
2,961,770

13,566,922
1,746,185
43,542,586
151,190
3,652,792
1,706,045(26,000)(41,000)(141,000)% total%24,947,370

58.1

37,042,517

65.2

64,224,724

78.0

3,993,257
1,000,981

9.3
2.3

3,947,203
1,746,476

6.9
3.1

3,911,388
997,3174.8
1.2

2,484,635

2,637,467

2,858,403

7,315,550

7,980,550

7,315,550

3,585,849

4,118,834

3,629,734(368,289)(614,568)(612,476)(20,000)(20,000)(20,000)

12,997,745

30.3

14,102,283

24.8

13,171,210

16.0

17,991,983
42,939,354

41.9
100.0

19,795,963
56,838,481

34.8
100.0

18,079,916
82,304,640

22.0
100.0

13

Period
Item
Liabilities
Ⅰ Current liabilities
1. Accounts payable—trade
2. Accrued bonuses
3. Accrued bonuses to directors
and auditors
4. Other current liabilities
Total current liabilities
Ⅱ Long−term liabilities
1. Retirement benefit provisions
2. Reserve for retirement benefits
for directors and auditors
3. Deposits received
Total long−term liabilities
Total liabilities
Shareholders’ equity
Ⅰ Common stock
Ⅱ Capital surplus
1. Additional paid−in capital
Total capital surplus
Ⅲ Retained earnings
1. Legal reserve
2. Voluntary reserve
3. Unappropriated retained
earnings
Total retained earnings
Ⅳ Unrealized holding gain on
available−for−sale securities
Total shareholders’ equity
Total liabilities andshareholder’s equity
Net assets
Ⅰ Shareholders’ equity
1. Common stock
2. Capital surplus(1) Additional paid−in capital
Total capital surplus
3. Retained earnings(1) Legal reserve(2) Other retained earnings
General reserve
Retained earnings brought
forward
Total retained earnings
Total shareholders’ equity
Ⅱ Valuation and translationdifferences
1. Other valuation difference on
available−for−sale securities
Total valuation and translationdifferences
Total net assets
Total liabilities and net assets(Thousands of Yen)
For reference:Previous fiscal year
(As of March 31, 2006)
Amount% total%Nine months ended
December 31, 2005
(As of December 31, 2005)
Amount% total%Nine months ended
December 31, 2006
(As of December 31, 2006)
Amount% total%4,773,044
6,500

11,389,695
6,500

34,453,859
25,000−50,000−2,022,827
6,802,371

15.9

2,136,140
13,582,335

23.9

5,446,872
39,925,732

149,123

166,638

144,705592,200−

607,100

48.5

2,354,675
3,095,998
9,898,370

7.2
23.1

2,539,959
2,706,598
16,288,933

4.8
28.7

2,384,794
3,136,600
43,062,332

3.8
52.3

7,948,036

18.5

−

−

7,948,036

9.7

7,994,953
7,994,953

18.6

−
−

−

7,994,953
7,994,953

9.7

9,580
15,000,000

−
−

9,580
15,000,000

1,439,959−

7,554,115

16,449,539

38.3

−

−

22,563,695

27.4

648,455

1.5−−

735,6220.9

33,040,984

76.9

−

−

39,242,308

47.7

42,939,354

100.0

−

−

82,304,640

100.0

−

−

7,948,036

14.0

−

−

−
−

−

7,994,953
7,994,953

14.1

−
−

−

−

9,580

−

−

20,000,000−−

4,111,965

−

−
−

−
−

−

24,121,545
40,064,535

42.4
70.5

−
−

−
−

−

485,012−−

485,012

0.8

−

−

−
−

−
−

40,549,547
56,838,481

71.3
100.0

−
−

−
−

14

Summary Non−Consolidated Statements of Income
Nine months ended
December 31, 2005
(April 1−December 31,
2005)
Amount% sales%
38,234,615 100.0
27,004,431
70.6
11,230,184
29.4

Nine months ended
December 31, 2006
(April 1−December 31,
2006)
Amount% sales%
53,173,619 100.0
36,865,663
69.3
16,307,955
30.7(Thousands of yen)
For reference:Previous fiscal year
(April 1, 2005−March 31,
2006)
Amount% sales%
88,251,762 100.0
61,682,867
69.9
26,568,894
30.1

10,024,572

26.2

11,261,292

21.2

14,071,454

15.9

1,205,611

3.2

5,046,663

9.5

12,497,439

14.2

Ⅳ Non−operating income
Ⅴ Non−operating expenses
Ordinary income

312,206
9,100
1,508,717

0.8
0.0
4.0

369,552
4,662
5,411,553

0.7
0.0
10.2

350,637
11,906
12,836,170

0.3
0.0
14.5

Ⅵ Extraordinary income
Ⅶ Extraordinary losses
Income before income taxes
Current income taxes
Deferred income taxes
Net income
Earnings brought forward fromprevious period
Interim dividends paid
Unappropriated retained
earnings

349,669
369,355
1,489,032
743,271(74,696)
820,457

0.9
1.0
3.9
1.9
(0.2)
2.2

132,9577,578
5,536,932
2,183,747
302,334
3,050,849

0.2
0.0
10.4
4.1
0.6
5.7

364,023
621,569
12,578,624
6,120,130(476,119)6,934,613

0.5
0.7
14.3
6.9
(0.5)
7.9

PeriodItem

Ⅰ Net sales
Ⅱ Cost of sales
Gross profit
Ⅲ Selling, general andadministrative expenses
Operating income

1,313,502

1,313,502

694,000

694,000

1,439,959

7,554,115

15