FOR IMMEDIATE RELEASE

Kurita Water Industries Reports Earnings for the Fiscal Year ended
March 31, 2010
Tokyo, Japan, April 30, 2010—Kurita Water Industries (TSE Securities Code 6370)
announced net sales of 178,520 million yen for the fiscal year ended March 31, 2010
(April 1, 2009 – March 31, 2010), and net income of 17,288 million yen, or 134.38 yen
per share.
Results of Operations
Total consolidated orders for the Kurita Group in the fiscal year ended March 31, 2010,
were down 10.2% versus the previous fiscal year to 175,162 million yen, while net sales
declined 10.6% to 178,520 million yen. Enhanced cost-cutting efforts helped the Group
achieve operating income of 26,358 million yen, down 5.6% versus the previous fiscal
year and ordinary income of 27,096 million yen, down 6.3%. Net income totaled 17,288
million yen, up 6.1%, partly owing to extraordinary income.
Markets in which the Kurita Group operates were extremely challenging overall
during the fiscal year ended March 31, 2010. Although the economy emerged from theworst depths of recession, economic prospects remained highly uncertain and therecovery lacked vigor. Capital expenditure fell sharply in the electronics industry andgeneral industries, both in Japan and overseas. Customers’ capacity utilization increased
through the fiscal second half but did not improve significantly.
Segment Information
Water Treatment Chemicals
Total Group orders for the Water Treatment Chemicals segment were 53,370 million
yen, down 8.7% versus the fiscal year ended March 31, 2009, and sales fell 7.9% to53,743 million yen. Operating income declined 2.9% to 8,177 million yen.
During the fiscal year ended March 31, 2010, Kurita bolstered sales efforts bystrengthening alliances with its domestic and overseas sales subsidiaries and pursued
order bookings based on a consultative sales approach to help customers successfully
meet challenges such as productivity enhancement and environmental mitigation. The
Group also worked to increase future orders by developing and expanding sales of new
products.
In Japan, overall orders fell versus the previous fiscal year, including those for theGroup’s mainstay boiler water treatment chemicals, cooling water treatment chemicals,
and wastewater treatment chemicals, as the recovery in customers’ capacity utilization
lacked vigor.
Despite signs of a pick-up in some Asian industries, overseas orders also decreased
amid the global economic slowdown.
Water Treatment Facilities
Total Group orders for the Water Treatment Facilities segment were 121,791 million yen,down 10.8% versus the previous fiscal year, sales fell 11.7% to 124,777 million yen,and operating income fell 6.8% to 18,181 million yen
During the fiscal year ended March 31, 2010, the Group worked to generate profits by1

focusing on service businesses and secure orders by stepping up consultative sales
efforts aimed at key customers, including those undertaking overseas projects. The
Group also worked on developing and expanding sales of new products.
In the electronics industry, domestic orders for the ultrapure water supply businesswere up markedly versus the previous fiscal year as a new facility went into operation.
Orders for ultrapure water production systems fell substantially in Japan, as
semiconductor- and LCD-related capital expenditures remained sluggish, but increased
significantly overseas, led by LCD-related orders in particular. Orders for water
treatment facilities for general industries dropped considerably versus the previous
fiscal year due to a fall in capital expenditure, and orders for maintenance services also
fell considerably because of a decline in customers’ capacity utilization andmaintenance frequency.
Material Events in the Fiscal Year ended March 31, 2010
On April 1, 2009, Kurita Water industries established Kurita Chemical Manufacturing
Ltd. (consolidated subsidiary), which manufactures water treatment chemicals.
Outlook for the Fiscal Year ending March 31, 2011
The Group forecasts 195,000 million yen in net sales, 29,500 million yen in operating
income, 30,000 million yen in ordinary income, and 17,300 million yen in net income
for the full fiscal year ending March 31, 2011.
Kurita expects the modest global economic recovery to continue, although progress
will vary by region. In Japan, Kurita expects customers’ capacity utilization to increase,supported by an expansion of exports to growing overseas markets. However, capital
expenditure activity should remain cautious in Japan amid continued scrapping andconsolidation of production facilities and the shifting of production capacity overseas.
The impact on corporate earnings of rising crude oil and other raw materials prices
remains a concern.
Amid this environment, the Group will pursue new growth in order to fulfill MP-11,
the Group’s medium-term management plan, by raising the quality of its service
businesses, which help customers successfully meet challenges, and further expanding
its global operations, where it sees strong growth potential.
Outlook by Segment
Water Treatment Chemicals
The Kurita Group anticipates orders and earnings to be impacted by the delayed
recovery in capacity utilization at customer factories, market contraction due toscrapping and consolidation of production facilities, and customers’ increased
cost-cutting efforts.
Under such circumstances, the Group aims to secure orders by bolstering alliances
between Group companies both in Japan and overseas, working closely with customers,
and providing swift solutions to issues that customers face. To secure earnings, theGroup will endeavor to expand business by developing and expanding sales of new
products for overseas markets and continue to reduce manufacturing and distribution
costs.
Water Treatment Facilities
Although customers’ domestic capital expenditure may remain subdued, Kurita expects2

overseas capital expenditure to increase in Asia, particularly in China, in the electronics
industry and general industries.
In this environment, the Kurita Group aims to secure orders by stepping up
consultative sales efforts aimed at key customers to help them, for example, reclaim
wastewater and otherwise effectively utilize water resources. The Group will also work
to secure earnings by further expanding its service businesses, which are resilient tocapital expenditure trends, and continuing to enhance quality, increase productivity, andreduce costs.
Financial Condition
Assets, Liabilities, and Net Assets
Current assets totaled 109,297 million yen at the end of the fiscal year (March 31, 2010),
an increase of 10,608 million yen versus the end of the previous fiscal year (March 31,2009). This was mainly due to a 27,467 million yen increase in marketable securities,
despite a 9,698 million yen decline in cash and deposits and a 5,029 million yen decline
in trade notes and trade accounts receivable. Cash and deposits declined owing toincreased investment in certificates of deposit treated as marketable securities, despite
progress made in collecting trade notes and accounts receivables. The decline in tradenotes and trade accounts receivable was due to collections as well as sales’ decline. The
increase in marketable securities was due to the above-mentioned increased investment
in certificates of deposit, resulting in a net increase of 17,769 million yen in the
combined total of marketable securities and cash and deposits.
Noncurrent assets totaled 142,323 million yen at the end of the fiscal year, a declineof 4,394 million yen versus the end of the previous fiscal year. This was mainly due to a
9,563 million yen decline in property, plant and equipment, which occurred because
depreciation on property, plant and equipment exceeded capital expenditure (owing tolarge capital expenditures being made in the previous fiscal year) and despite a 4,831
million yen increase in investment securities.
Current liabilities totaled 38,592 million yen at the end of the fiscal year, a decline of
9,343 million yen versus the end of the previous fiscal year. This was mainly due to a
9,719 million yen decline in other accounts payable and accrued expenses and despite a3,649 million yen increase in income taxes payable. The decline in other accounts
payable and accrued expenses was mainly due to payments for facilities for theultrapure water supply business acquired in the previous fiscal year.
Noncurrent liabilities totaled 19,088 million yen at the end of the fiscal year, a small
increase of 244 million yen versus the end of the previous fiscal year.
Net assets were 193,939 million yen at the end of the fiscal year, an increase of
15,313 million yen versus the end of the previous fiscal year. The increase was mainly
due to two factors, which offset dividend payments of 4,374 million yen out of retained
earnings. First, net income of 17,288 million yen resulted in a net increase in retained
earnings of 12,925 million yen. Second, valuation and translation adjustments increased
by 2,381 million yen due to an increase in market values of investment securities and anincrease in the yen-value of overseas subsidiaries and affiliates’ net assets due to the
yen’s depreciation.
Cash Flows
Consolidated net cash and cash equivalents totaled 20,590 million yen at the end of the
fiscal year (March 31, 2010), a decrease of 4,672 million yen versus the end of theprevious fiscal year (March 31, 2009).
3Cash Flows from Operating Activities
Net cash provided by operating activities was 43,644 million yen in the fiscal year
ended March 31, 2010, an increase of 9,986 million yen versus the previous fiscal year
(ended March 31, 2009). This primarily reflects a net inflow comprising income before
income taxes of 28,178 million yen, a 15,523 million yen decrease in depreciation andamortization, and a 4,351 million yen decrease in trade notes and accounts receivable,
which was partially offset by the payment of income taxes in the amount of 8,209
million yen.
Cash Flows from Investing Activities
Net cash used in investing activities was 44,350 million yen in the fiscal year ended
March 31, 2010, an increase of 11,428 million yen versus the previous fiscal year. This
primarily reflects a net outflow of 23,200 million yen from purchases and redemptionsof marketable securities and outflows totaling 19,278 million yen for the acquisition ofproperty, plant and equipment, mainly for the ultrapure water supply business.
Cash Flows from Financing Activities
Net cash used in financing activities was 4,859 million yen in the fiscal year ended
March 31, 2010, a decline of 146 million yen versus the previous fiscal year, mainly
due to dividend payments of 4,465 million yen.
Cash Flow Indicators
Fiscal year ended March 31,
2006
2007
2008
2009
2010
Equity ratio (%)
68.3
66.7
73.2
72.2
76.5
Equity ratio (based on market capitalization) (%)
152.3
155.9
203.9
99.2
135.2
Interest-bearing debt to cash flow ratio (%)
8.9
4.1
4.0
24.8
18.7
Interest coverage ratio (times)
322.2
601.6
452.9 1,051.8 1,148.5
Equity ratio: Equity / Total assets
Equity ratio based on market capitalization: Market capitalization / Total assets
Interest-bearing debt to cash flow ratio: Interest-bearing debt / Cash flow
Interest coverage ratio: Cash flow / Interest paid
Notes:
1. All indicators are calculated using financial figures produced on a consolidated basis.
2. Market capitalization is calculated by multiplying the closing stock price at the end of the periodby the number of shares issued and outstanding (excluding treasury stock) at the end of the period.
3. Cash flow from operating activities is used as the cash flow variable.
4. Interest-bearing debt refers to all debts recorded on the consolidated balance sheet that incur
interest payments.

Dividends
Kurita Water Industries intends to pay a year-end dividend of 19 yen per share for the
fiscal year ended March 31, 2010, a 2 yen per share increase from the previous year-end
dividend. This takes into account the Group’s business development going forward andis aimed at rewarding shareholders for their support. This year-end dividend, together
with the interim dividend of 17 yen per share (the same as the previous interim
dividend), will result in an annual dividend of 36 yen per share, an increase of 2 yen per
share versus the previous fiscal year.
For the fiscal year ending March 31, 2011, Kurita Water Industries intends to pay aninterim dividend of 19 yen per share and a year-end dividend of 19 yen per share, giving
an annual dividend of 38 yen per share.

4

Business Risks
Major risk factors that could affect the Kurita Group’s future performance include, but
are not limited to, economic trends both in Japan and overseas, trends in capital
expenditure related to water treatment facilities, factory operating rates at customer
companies, and movements in prices of crude oil and raw materials.
1. Factors that may affect the Group’s business performance
The Group’s businesses are affected by the following factors.
1) Water Treatment Chemicals Business
The performance of the water treatment chemicals business is affected by fluctuations indemand levels reflecting changes in factory operating rates at companies in the steel,
petroleum refining and petrochemical, and pulp and paper industries—the Group’s main
sources of customers for the business. Business performance is also affected by
movements in the prices of basic materials, which fluctuate in conjunction with trends
in the price of crude oil and other raw materials.
2) Water Treatment Facilities Business
The performance of the water treatment facilities business is affected by demand
fluctuations caused by trends in capital expenditures at companies in electronics andother industries, the Group’s main source of customers for the business. The Group’sbusiness performance is also affected by movements in the prices of construction
materials and outsourcing costs, which influence equipment production costs.
2. Exchange rate fluctuation risk
The Group considers the potential impact of exchange rate movements on its businessperformance to be immaterial, as foreign currency-denominated transactions account for
only a small proportion of overall sales and procurements.

5

Financial Statements — Consolidated
Balance Sheets — Consolidated(millions of yen)

AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - tradeMarketable securities
Finished products
Work in process
Raw materials and supplies
Deferred tax assets
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures (net)
Machinery, equipment and vehicles (net)Land
Leased assets (net)
Construction in progress
Other (net)Total property, plant and equipment
Intangible fixed assets
Software
Other
Total intangible fixed assets
Investments and other assets
Investment securities
Equity interests in affiliates and subsidiaries
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets
Liabilities
Current liabilities
Notes payable - trade
Accounts payable - trade
Accounts payable - other / Accrued expenses
Income taxes payable
Advances received
Accrued employees’ bonuses
Other
Total current liabilities
Noncurrent liabilities
Lease obligations
Deferred tax liabilities related to revaluation
Accrued employees’ retirement benefits
Other
Total noncurrent liabilities
Total liabilities

As ofMarch 31, 2009
AmountAs ofMarch 31, 2010
Amount26,061
8,284
52,113
1,033
1,414
4,293
1,440
2,635
1,552
(140)
98,68916,363
5,393
49,97528,500
1,334
2,600
1,186
2,463
1,611
(132)
109,297

40,22050,942
13,895
7,254
11,4482,301
126,063

36,541
51,742
13,981
7,051
5,273
1,909
116,500

1,557
728
2,285

1,536
637
2,173

9,612
1,175
5,677
2,053
(152)
18,368
146,717
245,406

14,443
1,299
6,184
1,926
(205)
23,649142,323
251,620

1,820
17,01017,655
3,781
2,766
2,372
2,529
47,935

1,198
15,632
7,936
7,430
1,955
2,377
2,060
38,592

7,183
1,519
8,644
1,497
18,844
66,779

6,925
1,509
9,465
1,187
19,08857,6806

Net assets
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Valuation and translation adjustments
Unrealized gains on available-for-sale securities
Unrealized gains (losses) on revaluation of land
Foreign currency translation adjustments
Total valuation and translation adjustments
Minority interests
Total net assets
Total liabilities and net assets

13,45011,426
159,792(4,847)
179,821

13,45011,426
172,717(4,855)
192,738170(750)(1,950)(2,530)
1,335
178,626
245,406

1,989
(764)
(1,374)(149)
1,350
193,939
251,620

7

Statements of Income — Consolidated(millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest and dividend income
Equity in earnings of unconsolidated subsidiaries
and affiliates
Other
Total non-operating income
Non-operating expenses
Interest expense
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain from cancellation of contracts
Total extraordinary income
Extraordinary losses
Loss on disposal of properties
Impairment losses
Loss on liquidation of business
Valuation loss on investment securities
Legal settlement
Other
Total extraordinary losses
Income before income taxes and minority interests
Income taxes
Current
Deferred
Total income taxes
Minority interests in earnings of consolidated
subsidiaries
Net income

Year ended
March 31, 2009
Amount199,706
135,874
63,83135,89627,935

Year ended
March 31, 2010
Amount178,520
117,221
61,29934,941
26,358

573

331

269

270

339
1,183

404
1,006

36
164
200
28,91726241
268
27,096

-

1,507
1,507

100
2,018
480
215
2,814
26,103

253
36
136
426
28,178

10,689(1,160)9,529

12,197(1,379)10,817273

72

16,29917,2888

Statements of Changes in Shareholders’ Equity — Consolidated(millions of yen)

Shareholders’ equity
Common stock
Balance as of end of the previous fiscal year
Change during period
Total change during period
Balance as of end of the fiscal year
Capital surplus
Balance as of end of the previous fiscal year
Change during period
Total change during period
Balance as of end of the fiscal year
Retained earnings
Balance as of end of the previous fiscal year
Change during period
Dividend from surplus
Directors’ bonuses
Other
Net income
Reversal of unrealized gains (losses) on revaluationof land
Total change during period
Balance as of end of the fiscal year
Treasury stock
Balance as of end of the previous fiscal year
Change during period
Purchase of treasury stock
Total change during period
Balance as of end of the fiscal year
Total shareholders’ equity
Balance as of end of the previous fiscal year
Change during period
Dividend from surplus
Directors’ bonuses
Other
Net income
Purchase of treasury stockReversal of unrealized gains (losses) on revaluationof land
Total change during period
Balance as of end of the fiscal year

Year ended
March 31, 2009
AmountYear ended
March 31, 2010
Amount13,45013,45013,45013,45011,426

11,426

11,426

11,426

147,874

159,792(4,374)(6)(1)
16,299(4,374)(2)
17,288-

13

11,917
159,792

12,925
172,717(4,827)(4,847)(19)(19)(4,847)(8)(8)(4,855)167,924

179,821(4,374)(6)(1)
16,299(19)(4,374)(2)
17,288(8)-

13

11,897
179,821

12,916
192,738

9

Valuation and translation adjustments
Unrealized gains (losses) on available-for-sale securities
Balance as of end of the previous fiscal year
Change during period
Net change in items other than shareholders’ equity
during period
Total change during period
Balance as of end of the fiscal year
Unrealized gains (losses) on revaluation of land
Balance as of end of the previous fiscal year
Change during period
Net change in items other than shareholders’ equity
during period
Total change during period
Balance as of end of the fiscal year
Foreign currency translation adjustments
Balance as of end of the previous fiscal year
Change during period
Net change in items other than shareholders’ equity
during period
Total change during period
Balance as of end of the fiscal year
Total Valuation and translation adjustments
Balance as of end of the previous fiscal year
Change during period
Net change in items other than shareholders’ equity
during period
Total change during period
Balance as of end of the fiscal year
Minority interests
Balance as of end of the previous fiscal year
Change during period
Net change in items other than shareholders’ equity
during period
Total change during period
Balance as of end of the fiscal year
Total net assets
Balance as of end of the previous fiscal year
Change during period
Dividend from surplus
Directors’ bonuses
Other
Net income
Purchase of treasury stockReversal of unrealized gains (losses) on revaluation ofland
Net change in items other than shareholders’ equity
during period
Total change during period
Balance as of end of the fiscal year

1,773

170

(1,603)

1,818(1,603)
170

1,818
1,989

(750)

(750)

-

(13)

(750)

(13)
(764)

455

(1,950)(2,405)575(2,405)(1,950)575(1,374)

1,478(2,530)(4,008)2,380(4,008)(2,530)

2,380
(149)

1,658

1,335

(323)

15

(323)
1,335

15
1,350

171,061

178,626(4,374)(6)(1)
16,299(19)(4,374)(2)
17,288(8)-

13(4,331)

2,395

7,565
178,626

15,312
193,939

10

Statements of Cash Flows — Consolidated(millions of yen)

Cash flows from operating activities
Income before income taxes and minority interests
Depreciation and amortization
Equity in (earnings) losses of unconsolidated
subsidiaries and affiliates
Increase (decrease) in allowance for employees’
retirement benefits
Increase (decrease) in other allowancesInterest and dividend income
Interest expense
Other non-operating (income) losses
Other extraordinary (income) losses
Valuation (gains) losses on investment securities(Gains) losses on sale/disposal of property, plant andequipment(Increase) decrease in notes and accounts receivable trade(Increase) decrease in inventories(Increase) decrease in other current assets
Increase (decrease) in notes and accounts payable trade
Increase (decrease) in advances received
Increase (decrease) in other current liabilities
Other
Sub totalInterest and dividend received
Other proceeds
Interest paid
Other payments
Income taxes paid
Net cash provided by (used in) operating activities

Year ended
March 31, 2009
AmountYear ended
March 31, 2010
Amount26,103
11,71628,17815,523

(269)

(270)

332

799

(132)
(573)
36
(137)
695
2,018

(645)
(331)
26
(140)
(1,371)-

79

245

11,430

4,351

3,086
536

2,194
(230)

(4,110)(1,936)(651)(1,857)
71
48,374
1,094
312
(32)
(841)
(15,249)
33,658

(878)
1,945
125
47,586
685
4,025
(38)
(404)
(8,209)43,644(864)
2,094(4,497)

(587)
1,357
(27,999)

7,897

4,799

(38,291)(19,278)

47
(648)

56
(2,109)Cash flows from investing activities
Deposits into time deposit accounts
Withdrawals from time deposits
Payments for purchases of marketable securities
Proceeds from sale and redemption of marketablesecurities
Payments for purchases of property, plant andequipment
Proceeds from sale of property, plant and equipment
Payments for purchases of investment securities
Proceeds from sale and redemption of investment
securities
Proceeds from liquidation of subsidiaries
Other payments
Other proceeds
Net cash provided by (used in) investing activities

610

71

1,451
(859)
137
(32,922)(1,176)515(44,350)

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayment of long-term borrowings
Repayment of finance lease obligations
Purchase of treasury stock
Cash dividends paid
Cash dividends paid to minority shareholders
Net cash provided by (used in) financing activities

(0)
(92)
(131)
(19)
(4,370)(98)(4,713)

67
(451)
(8)
(4,369)(96)(4,859)11

Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of theperiodIncrease in cash and cash equivalents from newly
consolidated subsidiaries
Cash and cash equivalents at the end of the period(1,119)832(5,097)(4,732)30,36025,262-

60

25,262

20,59012

Segment Information

Business segment information
Year ended March 31, 2009 (April 1, 2008 – March 31, 2009)(millions of yen)

I. Sales and operating income
Sales(1) Sales to outside customers(2) Inter-segment sales
Total
Operating cost and expenses
Operating income
II. Assets, depreciation and capital
expenditure
AssetsDepreciation and amortization
Capital expenditures

Water
treatmentchemicals

Watertreatment
facilities

Total

58,331353
58,68550,267
8,417

141,374102
141,476
121,959
19,517

199,706
455
200,162
172,226
27,935

(455)
(455)
(455)
0

199,706
199,706
171,771
27,93534,476
1,745
1,432

180,626
9,970
54,889215,102
11,71656,32230,304-245,406
11,71656,322Eliminationor corporate

Consolidated

Year ended March 31, 2010 (April 1, 2009 – March 31, 2010)(millions of yen)

I. Sales and operating income
Sales(1) Sales to outside customers(2) Inter-segment sales
Total
Operating cost and expenses
Operating income
II. Assets, depreciation and capital
expenditure
AssetsDepreciation and amortization
Capital expenditures

Water
treatmentchemicals

Watertreatment
facilities

Total

53,743455
54,19946,022
8,177

124,777
78
124,855
106,674
18,181

178,520534
179,055
152,697
26,358

(534)
(534)
(534)
-

178,520
178,520
152,162
26,35835,194
1,662
1,151

168,119
13,860
6,932

203,314
15,523
8,083

48,306-

251,620
15,523
8,083

Eliminationor corporate

Consolidated

Notes:
1. For the fiscal years ended March 31, 2009 and 2010, no unallocated operating costs or expenses
were included in “Elimination or corporate”.
2. Unallocated corporate assets included in “Elimination or corporate” amounted to 30,353 million
yen and 48,369 million yen at March 31, 2009 and 2010, respectively, consisting principally ofcash deposits, securities in trust, and long-term investments (marketable securities and investment
securities).
3. Effective the fiscal year ended March 31, 2010, the Company adopted the Partial Amendments to
Accounting Standard for Retirement Benefits (Part3) (ASBJ Statement No.19, July, 31, 2008). Dueto this change, operating income in the Water Treatment Chemicals segment was 290 million yen
lower and in the Water Treatment Facilities, 585 million yen lower than would have resulted withthe previous accounting method.
4. Effective the fiscal year ended March 31, 2010, the Company and certain consolidated subsidiaries
in Japan adopted the Accounting Standard for Construction Contracts (ASBJ Statement No.15,
December 27, 2007) and its accompanying Guidance on the Accounting Standard for Construction
Contracts (ASBJ Guidance No.18, December 27, 2007). Due to this change, for the fiscal year
ended March 31, 2010, net sales and operating income in the Water Treatment Facilities segment
were 6,265 million yen higher and 1,244 million yen higher, respectively, and the segment’s assets
were 857 million yen lower, than would have resulted with the previous accounting method.

13

Geographical segment information
Year ended March 31, 2009 (April 1, 2008 – March 31, 2009)(millions of yen)

Japan

Other
regions

I. Sales and operating income
Sales(1) Sales to outside customers(2) Inter-segment sales
Total
Operating cost and expenses
Operating income

179,726
2,057
181,783
155,950
25,833

19,980433
20,413
18,6791,734

199,706
2,490
202,197
174,629
27,567(2,490)(2,490)(2,858)367

199,706
199,706
171,771
27,935

II. Assets

198,465

8,683

207,148

38,258245,406

Total

Eliminationor corporate

Consolidated

Year ended March 31, 2010 (April 1, 2009 – March 31, 2010)(millions of yen)

Japan

Other
regions

I. Sales and operating income
Sales(1) Sales to outside customers(2) Inter-segment sales
Total
Operating cost and expenses
Operating income

163,696
1,561
165,257
140,733
24,523

14,824238
15,063
13,544
1,518

178,520
1,799
180,320
154,278
26,042(1,799)(1,799)(2,115)315

178,520
178,520
152,162
26,358

II. Assets

185,816

8,116

193,932

57,687

251,620

Total

Eliminationor corporate

Consolidated

Notes:
1. Geographic segmentation is based on geographic proximity.
2. “Other regions” in the above table consists of Asia and other areas.
3. For the fiscal years ended March 31, 2009 and 2010, no unallocated operating cost and expenses
were included in “Elimination or corporate”.
4. Amounts and details of unallocated corporate assets included in “Elimination or corporate” were
the same as those stated in note 2 in the “Business segment information” section.
5. Effective the fiscal year ended March 31, 2010, the Company adopted the Partial Amendments to
Accounting Standard for Retirement Benefits (Part3) (ASBJ Statement No.19, July, 31, 2008). Dueto this change, in Japan operating income was 876 million yen lower than would have resulted
with the previous accounting method.
6. Effective the fiscal year ended March 31, 2010, the Company and certain consolidated subsidiaries
in Japan adopted the Accounting Standard for Construction Contracts (ASBJ Statement No.15,
December 27, 2007) and its accompanying Guidance on the Accounting Standard for Construction
Contracts (ASBJ Guidance No.18, December 27, 2007). Due to this change, for the fiscal year
ended March 31, 2010, in Japan sales were 6,265 million yen higher and operating income was
1,244 million yen higher than would have resulted with the previous accounting method.

14

Overseas sales
Year ended March 31, 2009 (April 1, 2008 – March 31, 2009)(millions of yen)

I. Overseas sales
II. Consolidated net sales
III. Ratio of overseas sales to total
consolidated sales

Asia
20,070-North
America
1,371-Europe
1,576
-

Other
2,936
-

Total
25,955
199,706

10.0%

0.7%

0.8%

1.5%

13.0%

Year ended March 31, 2010 (April 1, 2009 – March 31, 2010)(millions of yen)

I. Overseas sales
II. Consolidated net sales
III. Ratio of overseas sales to total
consolidated sales

Asia
13,404-

North
America
1,626-Europe
1,399
-

Other
2,581
-

Total
19,011
178,520

7.5%

0.9%

0.8%

1.4%

10.6%

1. Geographic segmentation is based on geographic proximity.
2. Major countries or regions in each category are as follows:(1) Asia:
Korea, China, Taiwan, Singapore, Indonesia, and Thailand(2) North America:
U.S.A.
(3) Europe:
Germany(4) Other areas:
Brazil3. “Overseas sales” comprises sales by the Company and its consolidated subsidiaries in countries orregions other than Japan.
4. Effective the fiscal year ended March 31, 2010, the Company and certain consolidated subsidiaries
in Japan adopted the Accounting Standard for Construction Contracts (ASBJ Statement No.15,
December 27, 2007) and its accompanying Guidance on the Accounting Standard for Construction
Contracts (ASBJ Guidance No.18, December 27, 2007). Due to this change, for the fiscal year
ended March 31, 2010, sales in Asia were 1,794 million yen higher than would have resulted withthe previous accounting method.

15

Other Information — Consolidated
Net Sales(millions of yen)

Year ended March 31,
2009

2010

Business segment
Water treatment chemicals

Amount58,331%
29.2

Amount53,743%30.1

Water treatment facilities

141,37470.8

124,777

69.9

Total

199,706

100.0

178,520

100.0

Order Intake and Backlog(millions of yen)

Year ended March 31,
2009
Business segment
Water treatment
chemicals
Water treatment
Order Intake
facilities
Total
Water treatment
chemicals
Order Backlog Water treatment
facilities
Total

2010

Amount%Amount%58,47030.053,37030.5

136,595

70.0

121,791

69.5

195,065

100.0

175,162

100.0

4,021

7.4

3,647

7.1

50,48392.6

47,49792.9

54,504100.0

51,145100.0

Production Results(millions of yen)

Year ended March 31,
2009

2010

Business segment
Water treatment chemicals

Amount58,696%30.1

Amount52,575%29.9

Water treatment facilities

136,29769.9

123,306

70.1

Total
194,994
Note: The amounts were based on sales amounts.

100.0

175,882

100.0

Capital Expenditures (Property, Plant and Equipment)(millions of yen)

Year ended March 31,
Business segment
Water treatment chemicals

2009
Amount
1,174

2.1

2010
Amount908%
12.1

Water treatment facilities

54,560

97.9

6,616

87.9

Total

55,734

100.0

7,525

100.0

%

Depreciation (Property, Plant and Equipment)(millions of yen)

Year ended March 31,
Business segment
Water treatment chemicals

2009
Amount
1,378

%
12.6

2010
Amount1,319

Water treatment facilities

9,537

87.4

13,520

91.1

Total

10,916100.0

14,840

100.0

%
8.9

16