October 15, 2008
Summary of financial and business results for the first half ended August 31, 2008
Asset Managers Holdings Co., Ltd., Osaka Securities Exchange, code 2337
www.assetmanagers.co.jp
Representative: Scott Callon, Chairman and Representative Statutory Executive Officer
Inquiries: Takehiro Fukada, Chief Strategic Officer and Statutory Executive Officer
Telephone: +81-3-3502-4818
1. Consolidated Financial Results (from March 1, 2008 to August 31, 2008)(1) Consolidated Financial Results

First half 2008
First half 2007
Fiscal 2007

Net Sales(million yen)(%)
37,030-11.741,947
84.1
70,833-Operating income(million yen)(%)
-1,57013,267-4.9
16, 276-

Net income(million yen)(%)
First half 2008
First half 2007
Fiscal 2007

-4,477
4,667
5,505-42.0-

Ordinary income(million yen)(%)
-3,426
12,152-10.0
13, 637
Net income per share(diluted)(Yen)

Net income per share(basic)(Yen)-8,178.60
8,840.51
10,386.15

8,175.53
9,646.35(2) Consolidated Financial Condition
Total assets(million yen)First half 2008
233,859First half 2007
259,435
Fiscal 2007
264,681

Net assets(million yen)
66,47591,17976,583Equity ratio
(%)
21.3
22.0
19.7

Net assets per share(yen)
65,818.74
107,746.86
98,325.93(3) Consolidated Cashflow
Operating activities(million yen)

Investing activities(million yen)

Financing activities(million yen)

1,976
1,162-7,324-18,444
13,051
26,181

Cash and cash
equivalents(million yen)
28,641
43,59332,463First half 2008
First half 2007
Fiscal 2007

13,436-5,395-20,554

2. Dividends
Dividend per share

Fiscal 2007
Fiscal 2008
(expected)

First quarter(yen)First half(yen)Third quarter(yen)Second half(yen)Fiscal(yen)-1,200.00--

600.00-1,800.00-

3. Consolidated Forecast for the Fiscal Year Ending February 2009 (from March 1, 2008 to February 28, 2009)

Fiscal 2008

Net Sales(million yen)
66,500(%)-6.1

Operating income(million yen)(%)
-6,500-Fiscal 2008

Net income(million yen)(%)
-8,000-Net income per share(Yen)-12,262.30

Ordinary income(million yen)(%)
-9,600-4. Others(1) Changes in consolidated subsidiaries (changes in scope of consolidation): Yes(2) Changes in accounting principles, procedures, and presentation preparing the consolidated financial statements:(i) Changes due to amendments to accounting standards: None(ii) Changes due to other than the above: None
(3) Number of outstanding shares (common shares)(i) Number of outstanding shares including treasury stock
First half 2008: 757,643
First half 2007: 530,341
Fiscal 2007: 530,341(ii) Number of treasury sharesFirst half 2008: 240
First half 2007: 240
Fiscal 2007 : 240

For Reference:1) Non-Consolidated Financial Results (from March 1, 2008 to August 31, 2008)(1) Non-Consolidated Financial Results
Net Sales(million yen)(%)
First half 2008
953-90.8
First half 2007
10,331-28.9
Fiscal 2007
17,535-

Operating income(million yen)(%)
0-100.0
5,399-56.3
7,905-

Net income(million yen)(%)
First half 2008
First half 2007
Fiscal 2007

233
2,308
4,506

(2) Non-Consolidated Financial Condition
Total assets(million yen)First half 2008
73,138First half 2007
101,449
Fiscal 2007
110,512-90.3-67.4-

Ordinary income(million yen)(%)
169-96.6
5,007
-58.2
8,268
-Net income per share(basic)(Yen)
408.36
4,354.13
8,500.60

Net assets(million yen)
52,16345,26947,066Equity ratio
(%)
71.1
44.5
42.5

Net assets per share(yen)
68,871.48
85,189.57
88,583.34

Notice Concerning Non-Consolidated Financial Results:
As of March 1, 2008, Asset Managers Co., Ltd. became a holding company under the name Asset ManagersHoldings Co., Ltd., creating new subsidiary companies via a demerger process. This has led to significant differencesin the non-consolidated financial results for the first half ended August 31, 2008 in comparison to the same quarter ofthe previous fiscal year.
2) Non-Consolidated Forecast for the Fiscal Year Ending February 2009 (from March 1, 2008 to February 28, 2009)

Fiscal 2008

Net Sales(million yen)(%)
1,900-89.2

Operating income(million yen)(%)
0-100.0

Fiscal 2008

Net income(million yen)(%)
200-95.6

Net income per share(Yen)
306.56

Ordinary income(million yen)(%)
200-97.6

Explanation on the Appropriate Use of Earnings Projections:This earnings projection is based on certain assumptions currently deemed reasonable by Asset Managers Holdings
Co., Ltd. Actual earnings may differ materially from this projection.