Notice of Impairment Losses on Non-current Assets and Revisions to Earnings Forecasts
Yamazen Corporation (the “Company”) hereby announces that it intends to record impairment losses onnon-current assets as extraordinary losses for the fiscal year ended March 31, 2015. As a result, the Company
has revised its consolidated earnings forecasts, announced November 10, 2014, and its non-consolidated
earnings forecasts, announced May 8, 2014, as shown below.
1. Recording of impairment losses on non-current assets(1) Reasons for impairment losses
At a meeting of the Board of Directors on April 14, 2015, the Company passed a resolution to sell twowarehouses currently conducted logistic operations and relocate these warehouses, from the viewpoint of
improving the efficiency of logistics sites under a project aimed at optimizing the Group’s logistics system. As
a result, in accordance with the “Accounting Standard for Impairment of Fixed Assets,” the Company willrecord impairment losses related to the sale of the two warehouses for the fiscal year ended March 31, 2015.
Details about the buyer of the warehouses and selling prices will be provided as soon as they are determined.
(2) Overview of disposed assets
Details and locations of assets

Current status[Logis Nishi-Nippon]
1781-3, Aza konjinzuka , Sanagucho, Iga-city, Mie-prefecture andother locationsLand:
27,793.50 m2
Buildings: 12,625.38 m2 (Gross floor area )Warehouse[Logis Tokyo]
2-6-9, Oroshicho, Minuma-ku, Saitama-city, Saitama-prefecture
Buildings:
6,692.76 m2 (Gross floor area )Warehouse(3) Details of impairment losses
The Company intends to book impairment losses of 2,582 million as extraordinary losses for the fiscal yearended March 31, 2015.
2. Revisions to the full-year earnings forecasts
The Company has revised its full-year consolidated earnings forecasts for the fiscal year ended March 31,
2015 as follows, to reflect the above-mentioned impairment losses.
Also, the Company has revised its full-year non-consolidated earnings forecasts for the fiscal year ended
March 31, 2015 as follows, to reflect an increase in ordinary income over the previous estimate due todividends received from consolidated subsidiaries (eliminated in consolidated accounts).
The Company has not revised its latest dividend forecast (year-end dividend of ¥12.00 per share), as sales
and ordinary income are steady.
(Unit: Millions of yen)
Revision to consolidated earnings forecasts for the fiscal year ended March 31, 2015
(April 1, 2014 to March 31, 2015)
Operating
OrdinaryNet sales
Net income
incomeincomeNet income
per sharePrevious forecast (A)420,000

11,30011,5007,20076.76 yen

Revised forecast (B)435,000

13,00013,2005,800

61.84 yen

Change (B − A)

15,0001,700

1,700-1,400

Rate of change (%)

3.6

15.0

14.8

-19.4

395,249

9,5629,838

5,515

58.80 yen

Revision to non-consolidated earnings forecasts for the fiscal year ended March 31, 2015
(April 1, 2014 to March 31, 2015)
OperatingOrdinary
Net sales
Net income
incomeincome

Net income pershare(Reference) Results for theprevious fiscal year
(April 1, 2013 to March 31, 2014)

Previous forecast (A)372,000

8,800

9,000

5,500

58.64 yen

Revised forecast (B)390,000

9,500

11,6005,700

60.77 yen

Change (B − A)

18,000

700

2,600

200

Rate of change (%)

4.8

8.0

28.9

3.6

359,149

7,449

7,577

4,046

(Reference) Results for theprevious fiscal year
(April 1, 2013 to March 31, 2014)43.14 yen(Note) The above forecasts are based on information currently available as of the date of announcement of
this material. Actual results may differ from these forecasts due to various factors in the future.
End