August 6, 2015

Summary of Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2016
Company name:

SRA Holdings, Inc.
(URL: http://www.sra-hd.co.jp/)
Stock listing:Tokyo Stock Exchange
Code number:
3817
President:
Toru Kashima
For inquiries, please contact:
Makoto Kitai, General Manager, Finance Department, Administrative HeadquartersTel:(03)-5979-2666
Scheduled date of submission of quarterly securities report:
August 7, 2015―
Scheduled commencement of dividend payment:
Quarterly Results Supplemental Materials
Yes
Quarterly Results Presentation MeetingNo

1. Consolidated results for the first quarter of the fiscal year ending March 2016 (from April 1, 2015 to June30, 2015)(1) Consolidated Operating Results (cumulative total)(All amounts rounded down, % change YoY)
Profit attributable

Net Sales

Ordinary Profit

Operating Income

to owners of the parent

First quarter of fiscal
2016
First quarter of fiscal
2015

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

%

8,641

9.3

549

25.8

691

39.1

406

―

7,909

3.7

436

77.1

497

14.3

(554)

―

Note：Comprehensive Income
First quarter of fiscal 2016
First quarter of fiscal 2015

First quarter of fiscal
2016
First quarter of fiscal
2015¥443 million(-%)(¥176) million(-%)

Net Income

Net Income

per Shareper Share after Dilution

Yen

Yen

33.74

33.68

(46.32)―(2) Consolidated Financial Position

First quarter of fiscal
2016
Fiscal 2015

Total Assets

Net Assets

Shareholders’ Equity Ratio

Millions of yen

Millions of yen%

31,397

18,85359.9

31,71418,85959.4

Reference: Shareholders’ equity
First quarter of fiscal 2016: ¥18,820 million
Fiscal 2015: ¥18,834 million

12. Dividends
Dividend per Share

Fiscal 2015
Fiscal 2016

End of First QuarterEnd of Second QuarterEnd of Third Quarter

Year-end

Yen

Yen

Yen

Yen

Yen

―
―

17.00

―

38.00

55.00

25.00

―

40.00

65.00

Fiscal 2016(forecast)
Note: Revision of dividend forecast in this quarter:

For the YearNo

3. Consolidated Earnings Forecast for Fiscal 2016 (from April 1, 2015 to March 31, 2016)(% of change from FY2015 First Half or FY2015）

Net Sales

Operating Income

Ordinary Profit

Profit attributable

Net Income

to owners of the parent

per Share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

FY2016 First Half
(for the six months ending
September 30, 2015)

16,860

2.2

1,125

14.4

1,170

(8.1)

770

―

63.98

FY201637,300

2.1

3,360

10.2

3,450

(9.5)

2,260

37.9

187.79Note: Revision of consolidated results forecast in this quarter:No

4. Others(1) Changes to significant subsidiaries during the current period :No(2) Application of simplified accounting and application of special accounting :(3) Changes in accounting principles and procedures, presentation, etc.
1. Changes caused by revision of accounting standards, etc. :2. Changes other than 1. above:
No

No

Yes

(4) Number of shares outstanding (common stock)
1. Number of shares outstanding (including treasury stock)
First quarter of fiscal 2016:15,240,000 sharesFiscal 2015:15,240,000 shares
2. Number of treasury stock
First quarter of fiscal 2016:
3,205,445 sharesFiscal 2015:
3,205,445 shares
3. Average number of shares over period (consolidated total for quarter)
First quarter of fiscal 2016:
12,034,555 sharesFirst quarter of fiscal 2015:
11,963,315 shares*Indication of quarterly review procedure implementation status
This earnings release is not subject to the quarterly review process as required by the Financial Instruments and Exchange Act of Japan.
As of the date when this earning release was issued, the review process on quarterly financial statements as required by the Financial
Instruments and Exchange Act had been finished.

*Explanation relating to the appropriate use of results forecasts, and other noteworthy items
Forward-looking statements in this earnings release, such as forecasts of results of operations, are based on the information currently
available and the certain assumptions that we regard as reasonable and therefore actual results may differ materially from those containedin or suggested by any forward-looking statements.

2

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

1. Qualitative Information Concerning First-Quarter Consolidated Business Results(1) Explanation Concerning Business Results
During the first quarter of the fiscal year (April 1, 2015 to June 30, 2015), the Japanese economy continued amoderate recovery amid a visible pickup in personal consumption and capital investment and an overall improvement
in corporate earnings.
In the information services industry, despite a modest increase in IT investments, mainly in the manufacturingindustries, and banking and securities industries, the environment for securing orders remained severe due tointensifying competition.
Within this business environment, the SRA Holdings Group formulated a Medium-Term Management Plan thatcovers the three-year period from fiscal 2016 through fiscal 2018 (from the fiscal year ending March 2016 to thefiscal year ending March 2018). Under this plan, we will target enhanced corporate and shareholder value, promoteearnings structure reform and establish a high-revenue model, while working to achieve further expansion ofshareholder

returns.

(ForasummaryoftheMedium-Term

Management

Plan,pleaserefer

to:http://www.sra-hd.co.jp/ir/others/20150624.pdf (Japanese only))
We will implement the following measures under the Medium-Term Management Plan.
1) Improving profitability in existing operations•Further raise the gross profit margin
We will raise profitability by enhancing and strengthening project management, continuously reduce production
overhead costs, further expand offshore order placements and promote the appropriate level of production staff.
•Improve SG&A expenses-to-sales ratio
We will strive to raise operation efficiency by introducing an account manager system while working to reduce
operational costs of Head Office staff departments and SRA Professional Service, Co., Ltd., which handles a sharedservice.
•Expand orders and sales
A priority measure will be to increase customer share of wallet by deeply cultivating existing customers, and in doing
so, we will work to expand orders and sales.
2) Transforming the SRA business model•We aim to target higher added value in existing operations through the utilization of proprietary IP products thatoffer high gross profit margins (expansion of recurring revenue-based operations, etc.).
•Software Research Associates, Inc. (SRA) will leverage its high technological capabilities and solid track record in
manufacturing/embedding development, cloud computing and open source software, and will combine these areas todevelop new business in the Internet of Things (IoT) field (in-vehicle software, smartphones, etc.).
3) Strengthening linkages between SRA’s proprietary IP product business and overseas operations•Under the previous Medium-Term Management Plan, we promoted “linkages between SRA’s proprietary IP productbusiness and overseas operations,” which involves undertaking the IP product business that offers high gross profit
margins targeting emerging markets overseas. To further contribute to the Group’s earnings by strengthening these3

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016activities and expanding business, we plan to make additional business investments in Proxim Wireless Corporation
and Cavirin Systems, Inc. and also progressed with procedures for making Shenzhen xin gold sea electronic co., LTD(Kingnet) an affiliated company accounted for by the equity method.
Due to the above initiatives, our consolidated business results for the first quarter of the fiscal year were as
follows.
Sales of the Systems Development business, the System Operations and Infrastructure Development business andthe Product Sales business all increased. As a result, consolidated net sales amounted to ¥8,641 million, a 9.3%
increase from the same period of the previous fiscal year.
At the profit level, due to an increase in gross profit accompanying growth in sales and a streamlining of selling,
general and administrative (SG&A) expenses, operating income rose 25.8% from the same period of the previous
fiscal year to ¥549 million while ordinary profit increased 39.1% from the same period of the previous fiscal year to¥691 million and profit attributable to owners of the parent amounted to ¥406 million (compared with a net loss of¥554 million in the same period of the previous fiscal year).
As detailed above regarding consolidated results for the first quarter, net sales and profits increased from same
period of the previous fiscal year and moved virtually in line with our forecast.
Ordinary profit and profit attributable to owners of the parent reached all-time highs for the first quarter.
A summary of consolidated business results for the first quarter by business segment is shown below.
1) Systems Development
The Systems Development business recorded increases in sales to manufacturing industries and banks. As a result,net sales increased 7.6% from the previous fiscal year to ¥4,219 million.
2) System Operations and Infrastructure Development
Although university-related orders were flat, there was an increase in orders from companies. As a result, net sales of
the System Operations and Infrastructure Development business increased 3.2% from the previous fiscal year to ¥963
million.
3) Product Sales
Although sales by SRA declined, Advanced Integration Technology, Inc. (AIT) posted a sharp increase in device sales.
As a result, net sales of the Product Sales business rose 13.2% from the previous fiscal year to ¥3,458 million.
(2) Explanation Concerning Financial Condition
Total assets at the end of the first quarter amounted to ¥31,397 million, a decrease of 1.0% from the end of theprevious fiscal year. Total liabilities decreased 2.4% from the end of the previous fiscal year to ¥12,543 million andnet assets decreased 0.3% to ¥18,853 million from the end of the previous fiscal year. Details of the principal
increases and decreases from the end of the previous fiscal year are as follows.
(Total Assets)
Work in process increased ¥561 million to ¥2,238 million due to such factors as a rise in contracted development
projects and deferred tax assets rose ¥174 million to ¥833 million. On the other hand, notes and accounts
receivable—trade decreased ¥1,203 million to ¥5,019 million due to the collection of trade receivables.

4

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

(Total Liabilities)
Provision for bonuses increased ¥314 million to ¥882 million. Provision for loss on construction contracts increased¥118 million to ¥781 million. On the other hand, accrued consumption taxes decreased ¥390 million to ¥231 million
due to the payment of consumption taxes. Income taxes payable decreased ¥382 million to ¥497 million owing to thepayment of corporate income taxes.
(Total Net Assets)
Valuation difference on available-for-sale securities increased ¥63 million to ¥658 million due to changes in themarket prices of marketable and investment securities. On the other hand, retained earnings decreased ¥51 million to¥15,237 million. Foreign currency translation adjustments when converting the impact of exchange rates on overseas
subsidiaries decreased ¥29 million to ¥555 million.
(3) Explanation Concerning Consolidated Results Forecast and Other Future Projections
No revision has been made to forecasts in Summary of Consolidated Financial Results for the Year Ended March 31,
2015 released on May 14, 2015.

2. Summary Information (Notes)(1) Significant changes involving subsidiaries during the period: None
(2) Application of simplified accounting methods and accounting methods specific to the preparation of the quarterly
consolidated financial statements: None
(3) Changes in accounting principles, changes in accounting estimates and restatements(Application of Accounting Standard for Business Combinations and other accounting standards)
In the first quarter of the current consolidated fiscal year under review, we began applying the Accounting Standard
for Business Combinations (ASBJ Statement No. 21 of September 13, 2013 (hereinafter referred to as the Business
Combinations Accounting Standard)), Accounting Standard for Consolidated Financial Statements (ASBJ Statement
No. 22 of September 13, 2013) (hereinafter referred to as the Consolidated Accounting Standard)), and AccountingStandard for Business Divestitures (ASBJ Statement No. 7 of September 13, 2013) (hereinafter referred to as theBusiness Divestures Accounting Standard)). According to the application of these and other accounting standards,
differences caused by the change in the equity of our subsidiaries that we have control over were recorded as capitalsurplus. Acquisition costs were recorded as costs in the consolidated fiscal year when the acquisition costs wereincurred. For the business combinations that will be conducted after the beginning of the first quarter of the current
consolidated fiscal year under review, when provisional accounting treatments are confirmed, the acquisition costallocations will be revised in the Quarterly Consolidated Financial Statements to which the dates of the businesscombinations belong. In addition, we changed how we record quarterly net income and other items, and minority
interests were recorded as non-controlling interests. In order to reflect these changes in the records, the Quarterly
Consolidated Financial Statements and the Consolidated Financial Statements for the first quarter of the previous
consolidated fiscal year and the previous consolidated fiscal year were revised.
For the application of the Business Combinations Accounting Standard and other accounting standards, wefollow the transitional arrangements stipulated in Paragraph 58-2 (4) of the Business Combinations AccountingStandard, Paragraph 44-5 (4) of the Consolidated Accounting Standard and Paragraph 57-4 (4) of the Business
5

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

Divestitures Accounting Standard and have been applying these since the beginning of the first quarter of the current
consolidated fiscal year under review.
These changes did not have a material effect on profits.

6

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

3. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of Yen)FY2015(as of March 31, 2015)

End of first quarter of FY2016(as of June 30, 2015)

ASSETS
Current assets:
Cash and deposits

8,672

8,477

Notes and accounts receivable—trade

6,223

5,019

Short-term investment securities

3,392

982

Merchandise and finished goods

784

842

Work in process

1,677

2,238

Short-term loans receivable

1,767

1,857

Deferred tax assets

658

833

Other

977

3,498

Allowance for doubtful accounts

(27)

(31)

24,12623,717

Buildings

317

318

Accumulated depreciation

(231)

(235)

Buildings, net

85

82

Machinery, equipment and vehicles

566

565

Accumulated depreciation

(510)

(514)

Machinery, equipment and vehicles, net

55

50

Other

113

112

Accumulated depreciation

(78)

(79)

Other, net

35

33

Total property, plant and equipment

175

166

Other

520

510

Total intangible assets

520

510

Investment securities

4,177

4,175

Long-term loans receivable

1,060

1,212

Deferred tax assets

1,243

1,194

Guarantee deposits

324

329

Net defined benefit asset

44

45

Other

171

175

Allowance for doubtful accounts

(12)

(12)

Allowance for investment loss

(118)

(118)

Total investments and other assets

6,891

7,003

7,588

7,679

31,714

31,397

Total current assets
Noncurrent assets:
Property, plant and equipment

Intangible assets

Investments and other assets

Total noncurrent assets
Total assets
7

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

(Millions of Yen)FY2015(as of March 31, 2015)

End of first quarter of FY2016(as of June 30, 2015)

LIABILITIESCurrent liabilities:
Accounts payable—trade

3,465

3,114

Short-term loans payable

1,179

1,179

Accrued expenses

593

689

Income taxes payable

880

497

Accrued consumption taxes

621

231

Provision for bonuses

568

882

Provision for directors’ bonuses

53

3

Provision for loss on construction contracts

662

781

Other

714

1,013

8,739

8,392

2

0

3,957

4,005

Provision for directors’ retirement benefits

140

144

Other

15

–

4,116

4,151

12,855

12,543

Capital stock

1,000

1,000

Capital surplus

4,468

4,468

Retained earnings

15,28815,237

Treasury stock(2,727)(2,727)

Total shareholders’ equity

18,03017,979Valuation difference on available-for-sale securities

594

658

Foreign currency translation adjustments

585

555

Remeasurements of defined benefit plans

(375)

(372)

Total accumulated other comprehensive income

804

841

25

33

Total net assets

18,85918,853

Total liabilities and net assets

31,714

31,397

Total current liabilities
Noncurrent liabilities:
Deferred tax liabilities

Net defined benefit liability

Total noncurrent liabilities
Total liabilities
NET ASSETS
Shareholders’ equity

Accumulated other comprehensive income

Subscription rights to shares

8

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(Consolidated Cumulative Total for First Quarter)
Consolidated
cumulative total forfirst quarter of fiscal
2015 (from April 1,2014 to June 30, 2014)(Millions of Yen)
Consolidated
cumulative total forfirst quarter of fiscal
2016 (from April 1,2015 to June 30, 2015)

Net sales

7,909

8,641

Cost of sales

6,523

7,185

Gross profit

1,386

1,455

Selling, general and administrative expenses

950

906

Operating income

436

549

Interest received

47

59

Dividends received

12

18

Foreign exchange gains－

52

Guarantee commission received

29

6

Other

21

14

Total non-operating income

110

152

Interest expenses

66Foreign exchange losses

37–

Stock transfer agency service fee

5

3

Other

0

0

Total non-operating expenses

50

10

497

691

Gain on reversal of subscription rights to shares

21–

Total extraordinary income

21–

Loss on retirement of noncurrent assets

0–Loss on valuation of investment securities

886–

Total extraordinary loss

886

–

(367)

691

Income taxes-current

317

443

Income taxes-deferred

(130)

(158)

Total income taxes

186

285

Net income (loss)

(554)

406

Profit (loss) attributable to owners of the parent

(554)

406

Non-operating income

Non-operating expenses

Ordinary profit
Extraordinary income

Extraordinary loss

Income (loss) before income taxes and minority
interests

9

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

(Quarterly Consolidated Statements of Comprehensive Income)(Consolidated Cumulative Total for First Quarter)(Millions of Yen)
Consolidated

Consolidated

cumulative total for

cumulative total forfirst quarter of fiscal

first quarter of fiscal

2015 (from April 1,2016 (from April 1,2014 to June 30, 2014)2015 to June 30, 2015)

Net income (loss)

(554)

406

Other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustments

431

63

(56)

(29)

3

2

377

37

(176)

443

(176)

443

－

－

Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income(breakdown)Comprehensive income attributable to owners of theparentComprehensive income attributable to non-controllinginterests

10

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016(3) Notes Concerning Consolidated Financial Statements for the First Quarter(Notes Concerning Premise of Going Concern)
None(Notes on Significant Changes in Shareholders’ Equity)
None(Segment Information and others)[Segment Information]
I. Consolidated cumulative total for first quarter of fiscal 2015 (from April 1, 2014 to June 30, 2014)
1. Information Concerning Net Sales and Income or Losses for each Reporting Segment(Millions of Yen)
AmountSystemOperations

Systems
Development

andInfrastructurerecorded on
Product
Sales

Adjustment

Total

amount*1

the quarterly
consolidated
statements ofDevelopment

income*2

Sales(1) Sales to
Customers(2) Intersegment
sales ortransfers
Total sales
Segment income

3,921

933

3,055

7,909

－

7,909

1

78

120

199

(199)

－

3,922

1,011

3,175

8,109

(199)

7,909

286

210

243

740

(303)

436

Notes:
1. The segment income adjustment of minus ¥303 million is a company-wide expense not apportioned to any reporting segment.
Company-wide expenses are general and administrative expenses and R&D expenses not attributed to any reporting segment.
2. Segment income is adjusted in operating income on the quarterly consolidated statements of income.

2. Information concerning impairment loss on fixed assets or goodwill for each reporting segment
None

11

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

II. Consolidated cumulative total for first quarter of fiscal 2016 (from April 1, 2015 to June 30, 2015)
1. Information Concerning Net Sales and Income or Losses for each Reporting Segment(Millions of Yen)
AmountSystemOperations

Systems
Development

andInfrastructurerecorded on
Product

Adjustment

Total

Sales

amount*1

the quarterly
consolidated
statements ofDevelopment

income*2

Sales(1) Sales to
Customers(2) Intersegment
sales ortransfers
Total sales
Segment income

4,219

963

3,458

8,641

－

8,641

2

65

83

151

(151)

－

4,222

1,028

3,541

8,792

(151)

8,641

331

213

303

848

(298)

549

Notes:
1. The segment income adjustment of minus ¥298 million is a company-wide expense not apportioned to any reporting segment.
Company-wide expenses are general and administrative expenses and R&D expenses not attributed to any reporting segment.
2. Segment income is adjusted in operating income on the quarterly consolidated statements of income.

2. Information concerning impairment loss on fixed assets or goodwill for each reporting segment
None

12

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

(Significant subsequent events)
On July 1, 2015, Software Research Associates, Inc. (SRA), a subsidiary of the Company, acquired an equity interestin Shenzhen xin gold sea electronic co., LTD (Kingnet, headquartered in Shenzhen, China) and on August 5, 2015
underwrote a capital increase in Kingnet. As a result, Kingnet became an affiliate accounted for by the equity method.
1. Purpose of stock acquisition
Kingnet engages in the manufacture and sales of IT-related devices such as wireless devices and switching equipment
in China. From December 2011, with a view toward making an investment, SRA provided Kingnet with a loan as abusiness investment. SRA recently collected a portion of the loan and acquired an equity interest and underwrote a
capital increase and now holds a 27.5% equity interest in Kingnet. In the future, the Company will make Kingnet anaffiliate accounted for by the equity method and will include Kingnet’s results in its own business results.
In conjunction, the SRA Group will collaborate with Kingnet, which possesses a sales network in China, andvigorously strengthen “linkages between SRA’s proprietary IP product business and overseas operations” (a priority
measure under the Medium-Term Management Plan) in the large market of China.
Kingnet has commenced sales of wireless devices of U.S.-based Proxim Wireless Corporation (with which the
SRA Holdings Group has business and capital alliances) to China’s major telecommunications equipment andtelecommunications device manufacturers.
2. Name of counterparty company in stock acquisition
Mega Power Electronic Co., Ltd.
3. Acquired company name, business content, and size(1) Name: Shenzhen xin gold sea electronic co., LTD (Kingnet)(2) Scope of business: Manufacture, sale, import, export and other transactions for wireless devices, switchingequipment, routers, modems, data facilities, PC peripheral facilities, network cards and other products
Size: Capitalized at RMB 5,500 thousand
4. Date of stock acquisition and underwriting of capital increase
Stock acquisition: July 1, 2015
Underwriting of capital increase: August 5, 2015
5. Acquired equity interest, amount of acquisition and percentage of equity interest after acquisition(1) Registered equity interest after acquisition: RMB 1,760 thousand of RMB 6,400 thousand in equity(2) Amount of acquisition: USD 6 million(3) Percentage of equity interest after acquisition: 27.5%
For the fiscal year ending December 2015, Kingnet is forecast to record net sales of RMB 150,000 thousand(¥2,959 million) and net income of RMB 16,000 thousand (¥315 million). (Conversion rate at the end of June 2015)

13

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

4. Other Information
1. Status of Production, Orders and Sales
 Production amounts
Production by segment in the first quarter of the fiscal year ending March 31, 2016 is as follows.
Consolidated cumulative total for
Segment information by type of businessfirst quarter of fiscal 2016 (from% change YoY

April 1, 2015 to June 30, 2015)
Systems Development (Millions of Yen)
System Operations and Infrastructure
Development (Millions of Yen)
Total (Millions of Yen)

4,765

106.5

968

100.7

5,733

105.5

Notes:
1. Amounts are based on sales price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

 Purchase amounts
Purchases by segment in the first quarter of the fiscal year ending March 31, 2016 are as follows.
Consolidated cumulative total for
Segment information by type of businessfirst quarter of fiscal 2016 (from% change YoY

April 1, 2015 to June 30, 2015)
Product Sales (Millions of Yen)

2,190

102.9

Total (Millions of Yen)

2,190

102.9

Notes:
1. Amounts are based on purchase price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

14

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2016

 Status of orders
Status of orders by segment in the first quarter of the fiscal year ending March 31, 2016 is as follows.
OrdersSegment information by type of business

Order backlog

received% change YoY(Millions of% change YoY

Yen)

Yen)
Systems Development(Millions of

5,049

110.5

5,242

103.7

633

100.1

1,278

96.7

Product Sales

3,387

96.8

4,310

136.0

Total

9,070

104.3

10,832

113.4

System Operations and Infrastructure
Development

Notes:
1. Amounts are based on sales price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

 Sales amounts
Sales by segment in the first quarter of the fiscal year ending March 31, 2016 are as follows.
Consolidated cumulative total for
Segment information by type of businessfirst quarter of fiscal 2016 (from% change YoY

April 1, 2015 to June 30, 2015)
Systems Development (Millions of Yen)

4,219

107.6

963

103.2

Product Sales (Millions of Yen)

3,458

113.2

Total (Millions of Yen)

8,641

109.3

System Operations and Infrastructure
Development (Millions of Yen)

Notes:
1. Amounts are based on sales price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

15