Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Third Quarter of Fiscal 2006
February 13, 2006
Company:
Stock code:
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Taiheiyo Cement Corporation5233
http://www.taiheiyo-cement.co.jp/

Fiscal 2005 3Q: April 1, 2004- December 31,2004
Fiscal 2005:
April 1, 2004-March 31, 2005
Fiscal 2006 3Q: April 1, 2005-December 31, 2005
Fiscal 2006:
April 1, 2005-March 31, 2006

The accompanying consolidated financial results are not intended to present the financial results in accordancewith accounting principles and practices generally accepted in countries and jurisdictions other than Japan.

1. Consolidated results for the third quarter of FY/3/06 (April 1, 2005 – December 31, 2005)
All yen figures are rounded down to the nearest one million yen.
(1) Consolidated results of operations
Net Sales
Millions of Yen

Operating income%
4.6-2.3

3Q FY3/06
3Q FY3/05
FY3/05

663,659
634,650
872,686

3Q FY3/06
3Q FY3/05
FY3/05

Net income
Millions of Yen%
2,272 -84.5
14,621
14,412

Ordinary income

Millions of Yen%

Millions of Yen%

45,34433,21848,18536.5-38,121
25,182
38,26451.4-EPSYen
2.43
15.71
15.33

Diluted EPS
Yen
2.34
15.18
14.80

(2) Consolidated financial position
3Q FY3/06
3Q FY3/05
FY3/05

Total assets
Millions of Yen
1,291,724
1,326,686
1,247,532

Shareholders’ equity
Millions of Yen
259,403
238,905
236,734

Equity ratio
%
20.1
18.0
19.0

Equity per shareYen
276.98256.78253.26(Reference:FY3/06 consolidated earnings forecast (April 1, 2005 – March 31, 2006))
There is no revision proposed in the consolidated project performance for the FY3/06, which was announced onNovember 15, 2005.

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Consolidated Balance Sheets(Summary)
ItemAssets
Current assets
Cash and time deposits
Notes and accounts receivable
Inventories
Other current assets
Fixed assets
Tangible fixed assets
Intangible fixed assets
Investments and other assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable
Short-term borrowings and bonds(duewithin one year)
Other current liabilities
Fixed liabilities
Long-term borrowings ,Bonds andcomvertible bonds
Other fixed liabilities
Total liabilities
Minority interests
Shareholders’ equity
Capital stock
Additional paid in capital
Retained earnings
Revaluation excess
Unrealized gain on other securities
Foreign currency translation adjustments
Treasury stock
Total shareholders’ equity
Total liabilities, minority interests andshareholders’ equity

3H FY3/06(As of 12/31/05)(Unit: Millions of Yen)
FY3/05
Change(As of 3/31/05)

411,295
77,464
212,131
83,502
38,197880,429
581,635
47,212
251,581
1,291,724

366,243
73,364
190,071
67,811
34,995881,289
608,11147,060226,117
1,247,532

45,052
4,100
22,06015,6903,201-860-26,475
151
25,46344,192590,060
120,680

547,404
117,476

42,656
3,204

380,561

353,200

27,36088,818
408,725

76,727433,525

12,091-24,799292,748

312,756-20,007

115,976998,786
33,535

120,768
980,929
29,867-4,791
17,856
3,667

69,49958,89399,827
4,788
30,445-2,455-1,595
259,40369,49958,605
101,337
4,855
19,885-14,725-2,723
236,734

288-1,510-67
10,56012,2701,127
22,668

1,291,724

1,247,532

44,192

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Consolidated Statements of Income(Summary)Item
Net sales
Operatingincome/loss

Cost of sales
Selling, general and administrative
expenses
Operating income

3Q FY3/06(4/1/05–12/31/05)
663,659(Unit: Millions of Yen)
3Q FY3/05
Change(4/1/04–12/31/04)
634,650
29,009516,343

499,264

17,078

101,971

102,167-195

45,34433,21812,125Non-operating income

8,927

6,355

2,571

Non-operating expenses

16,14914,391

1,757

Ordinary income

38,121

25,182

12,939Extraordinary gains (losses)-33,046

1,890-34,936

5,075

27,072-21,997

Income taxes

16,2019,334

6,867

Income tax adjustments-14,581

1,771-16,352

Minority interest income

1,182

1,344-162

Net income

2,272

14,621-12,349

Net income before income taxes

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