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[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

Summary of Financial and Business Results for the Third Quarterof the Fiscal Year Ending February 2011
January 13, 2011
Ichigo Group Holdings Co., Ltd. (JASDAQ, 2337)
Representative:
Scott Callon, Chairman and Representative Statutory Executive Officer
Inquiries:
Minoru Ishihara, Senior Executive Managing Director and Statutory Executive Officer
Telephone: +81-3-3502-4818
www.ichigo-holdings.co.jp/english
1. Consolidated Financial Results (from March 1, 2010 to November 30, 2010)(1) Consolidated financial results
Revenues
Operating Profit
Recurring Profit
Feb 11
Feb 10Feb 11
Feb 10Q3
Q3(million yen)(%)

10,267
19,126-46.3-56.7(million yen)

954
1,078

(million yen)(%)(million yen)

-11.4
-

1,271
570

122.9
-

2,666
1,521

Net Profit per Share(basic, yen)(diluted, yen)

1,456.94
1,541.98

Net Profit(%)

Net Profit per Share
Q3Q3(% change is year-on-year)
(%)

75.2-

1,141.47
651.24(2) Consolidated financial condition
Total Assets
Net Assets(million yen)(million yen)Feb 11 Q3
100,335
28,927
Feb 10 Q4
100,268
23,523
Reference: Shareholders’ equity Feb 11 Q3: 26,538 million yen

Equity Ratio(%)

Net Assets per Share(yen)

26.5
20.4

11,479.49
11,711.48

Feb 10 Q4: 20,495 million yen

2. Dividends
Dividend per Share (yen)FirstQuarterFeb 10Feb 11SecondQuarter-ThirdQuarter00-

Feb 11 (Expected)

FourthQuarter

FiscalYear-00---

Note 1: Changes in the dividend forecast: None
Note 2: The last day of the First Half and the Full Year are designated as dividend record dates under the Company's
Articles of Incorporation, but as of the Third Quarter, the Company has not forecast a dividend.

3. Consolidated Forecast for the Fiscal Year Ending February 2011 (from March 1, 2010 to February 28, 2011)(% change is year-on-year)

AnnualRevenues(million yen)(%)

13,800-34.6

Net Profit(million yen)(%)

Operating Profit(million yen)(%)

1,000-9.7Recurring Profit(million yen)
(%)

1,000

74.5

Net Profit per Share(Yen)Annual2,300
27.3
1,180.00
Note 1: Changes in the forecast: None
Note 2: The forecast for Net Profit per Share has been estimated under the assumption that the number of outstanding
shares as of the last day of the Third Quarter will be unchanged through the end of the full fiscal year.

4. Others(1) Changes in significant consolidated subsidiaries (material changes in scope of consolidation): None
(2) Application of accounting treatments in particular to interim consolidated financial statements: Yes(3) Changes in accounting principles, procedure and presentation(i) Change due to the amendments of accounting principles: Yes(ii) Change due to other than the above: None
(4) Number of outstanding shares (common shares)(i) Number of outstanding shares including treasury stock
Feb 11 Q3:
2,312,083
Feb 10 Q4:
1,750,275(ii) Number of shares of treasury stock
Feb 11 Q3:
240
Feb 10 Q4:
240(iii) Average number of outstanding sharesFeb 11 Q3:
1,830,447
Feb 10 Q3:
986,904*Explanation on the Appropriate Use of the Earnings Projection
Forward-looking statements contained in this material are based on judgments obtained from information that wasavailable to the Company and the Group as of the announcement date. However, these statements involve risks anduncertainties. Therefore, please note that actual earnings may differ significantly from the described earnings
projection as a result of various factors.

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