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[Provisional Translation Only]
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Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

Summary of Financial and Business Results for the First Halfof the Fiscal Year Ending February 2011
October 14, 2010
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 August 31, 2010)(1) Consolidated financial results
Revenues
Operating Profit
Recurring Profit
Feb 11
Feb 10Feb 11
Feb 10

Q2
Q2(million yen)

(%)

7,111
15,426-53.9-(million yen)(%)

685482

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

1,316.00
1,256.79

Q2
Q2

Net Profit(million yen)(%)(million yen)

1,061
133695.2-

2,341
1,169

41.9-

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

100.2-

1,002.09
500.31(2) Consolidated financial condition
Total Assets
Net Assets(million yen)(million yen)Feb 11 Q2
104,10727,648
Feb 10 Q4
100,268
23,523
Reference: Shareholders’ equity Feb 11 Q2: 24,301 million yen

Equity Ratio(%)

Net Assets per Share(yen)

23.3
20.4

13,462.40
11,711.48

Feb 10 Q4: 20,495 million yen

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

Feb 11 (Expected)

FourthQuarterFiscalYear-00---

Note 1: Changes in the dividend forecast: None
Note 2: The last day of the First Half is designated as a dividend record date under the Company's Articles ofIncorporation, but as of the First Half, 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)(%)

1,000-9.7

Recurring Profit(million yen)(%)

1,00074.5

Net Profit per Share(Yen)

Annual2,300
27.3
1,283.51
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 First Half 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 Q2:
1,805,353
Feb 10 Q4:
1,750,275(ii) Number of shares of treasury stock
Feb 11 Q2:
240
Feb 10 Q4:
240(iii) Average number of outstanding sharesFeb 11 Q2:
1,779,037
Feb 10 Q2:
930,318*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.

2-