Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the First Quarter of Fiscal 2011 ended March 31, 2011
August 10, 2010
Company:
Stock code:
URL:

Taiheiyo Cement Corporation5233
http://www.taiheiyo-cement.co.jp/

Fiscal 2010 1Q: April 1, 2009- June 30,2009
Fiscal 2010:
April 1, 2009-March 31, 2010
Fiscal 2011 1Q: April 1, 2010-June 30, 2010
Fiscal 2011:
April 1, 2010-March 31, 2011

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.
(All yen figures are rounded down to the nearest one million yen.)

1. Consolidated Financial Results for the First Quarter of Fiscal 2011 (April 1, 2010 through June 30, 2010)(1) Operating Results
Net Sales
Millions of Yen
1Q FY3/11
1Q FY3/10

162,959
173,622%(6.1)(14.2)EPS

Ordinary income(loss)
Millions of Yen(8,247)(8,245)Net loss% Millions of Yen%––––(11,009)(8,798)

Diluted EPS
Yen––Yen(11.70)(9.38)

1Q FY3/11
1Q FY3/10

Operating income
Millions of Ye%n(3,868)–(3,878)–(2) Financial Position
1Q FY3/11
FY3/10Total assets
Millions of Yen
1,093,762
1,155,256

Total net assets
Millions of Yen
176,637
188,187

Equity ratio
%
13.0
13.3

Equity per shareYen
151.25162.86

2. Dividends
1Q
FY3/10FY3/11
FY3/11(forecast)

Dividend per share
3Q
4Q

2Q

Total

Yen

Yen

Yen

Yen

Yen

——

0.00

—

0.00

2.00

0.00

—————

3. Consolidated Results Forecast for the Fiscal 2011(April 1, 2010 through March 31, 2011)
Net sales
1HFY3/11

335,000%(6.4)

Operating income(loss)
Millions of Yen%
(4,000)—FY3/11

710,000(2.6)

13,000Millions of Yen

263.9

Ordinary income(loss)%(7,500)—

Millions of Yen

6,000

3,951.6

Net income(loss)%(11,500) —Millions of Yen

4,000

—

EPS
Yen

(12.30)4.30

This forecast is based on the information available at the date of publication of this material and assumptions at the same datewith respect to the various factors which might have impact on the future financial results. Actual results may differ
materially from this forecast due to various factors.

Page 1 of 5

Consolidated Balance Sheets
All yen figures are rounded down to the nearest one million yen.

ItemAssets
Current assets
Cash and time deposits
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
A. Property, plant and equipment
Buildings and structures, net
Machinery, equipment, and vehicles, net
Land
Other, net
Total property, plant and equipment
B. Intangible assets
Goodwill
Other
Total intangible assets
C. Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

1Q FY3/11(As of 06/30/10)(Millions of Yen)
FY3/10(As of 3/31/10)

65,731
144,436
33,2208,723
39,646
51,602(1,864)341,497

119,437
153,699
31,367
8,084
36,80652,827(1,868)400,353

162,565
128,826
169,03173,835534,258

160,864
128,958
169,027
71,411
530,261

17,50935,176
52,685

17,99835,99353,991

99,13175,079(8,890)165,320752,265
1,093,762

102,955
76,642(8,947)
170,650
754,903
1,155,256

Page 2 of 5All yen figures are rounded down to the nearest one million yen.

ItemLiabilities
Current liabilities
Notes and accounts payable-trade
Short-term bank loans payable
Commercial papers
Current portion of bonds
Current portion of bonds with subscription
rights to shares
Income taxes payable
Provision for bonuses
Provision for directors’ bonuses
Provision for loss on transfer of business
Provision for business structure reform
costs
Other provision
Asset retirement obligations
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Bonds with subscription rights to shares
Long-term bank loans payable
Provision for retirement benefits
Provision for directors’ retirement benefits
Provision for loss on business of
subsidiaries and affiliates
Provision for special repairs
Asset retirement obligations
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Accumulated other comprehensive losses
Valuation and translation adjustments
Minority interests in consolidated subsidiaries
Total net assets
Total liabilities and net assets

1Q FY3/11(As of 06/30/10)(Millions of Yen)
FY3/10(As of 3/31/10)

74,395325,244
56,000525
40

82,958291,523
46,00020,61021,982

1,420
3,771
7
5,588

2,848
5,242
7
5,588

16,497

17,262874
151
60,447544,965

886–
58,556553,466

63,015–191,554
33,327669

63,05040
235,870
35,412
792

138

138

412
6,168
76,871
372,158
917,124400–
77,896413,602
967,069

69,49933,962
67,383(953)
169,892

69,49960,38452,753(960)
181,676

5,117

6,586

(20)
4,503
(34,784)(2,431)(27,615)
34,361
176,637
1,093,762

6
4,503(37,115)(2,468)(28,488)
34,999188,187
1,155,256

Page 3 of 5

Consolidated Statements of Income
All yen figures are rounded down to the nearest one million yen.

ItemNet sales(Millions of Yen)
1Q FY3/101Q FY3/11(4/1/09–(4/1/10–06/30/09)06/30/10)
173,622
162,959

Cost of sales

145,783

137,766

Gross profit

27,83825,192

Selling, general and administrative expenses

31,71729,060Operating loss

(3,878)(3,868)Interest income

169

148

Dividends income

734

480

1,132

1,308

2,037

1,937

2,517

2,481

2,934

1,516

952

2,318

Non-operating income

Other
Total non-operating income
Non-operating expenses
Interest expenses
Equity in losses of unconsolidated subsidiaries
and affiliates
Other
Total non-operating expenses

6,404

6,316(8,245)(8,247)

Gain on disposal of non-current assets

289

1,031

Gain on sales of investments in securities

5101

148
443

317
1,450

140

170

Ordinary loss
Extraordinary income

Other
Total extraordinary income
Extraordinary loss
Loss on disposal of non-current assets
Influence by changing accounting policy of asset
retirement obligation
Other–

4,056

352

899

493

5,126

Loss before income taxes and minority interests(8,294)(11,923)

Income taxes-current

1,404(393)(1,113)

Income taxes-deferred
Income taxes

1,010

(675)

–(11,247)

(507)

(237)

(8,798)(11,009)

Total Extraordinary loss

loss before minority interests
Minority interests in net income
Net loss(–)

437

Page 4 of 5

Consolidated Statements of Cash FlowsAll yen figures are rounded down to the nearest one million yen.

ItemI

Net cash provided by(used in) operating activities
Loss before income taxes and minority interests
Depreciation and amortization
Amortization of goodwill
Equity in earnings of affiliates
Loss on valuation of investment securities
Increase(Decrease) in provision for retirement benefits
Decrease in provision for directors’ retirement benefits
Decrease in provision for bonuses
Decrease in provision for directors’ bonuses
Increase(Decrease) in allowance for doubtful accounts
Decrease in other provisionInterest and dividends income
Interest expenses
Gain on sales of investment securities
Loss on liquidation of subsidiaries and affiliates
Loss on disposal of property, plant, and equipment
Decrease in notes and accounts receivable-trade
Decrease(Increase) in inventories
Decrease in notes and accounts payable-trade
Influence by changing accounting policy of asset
retirement obligation
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by(used in) operating activities

Net cash provided by(used in) investing activities
Decrease(Increase) in time deposits
Purchase of property, plant, and equipment
Proceeds from sales of property, plant, and equipment
Purchase of investment securities
Proceeds from sales of investment securities
Payments of loans receivableCollection of loans receivable
Other, net
Net cash provided by(used in) investing activities
III Net cash provided by(used in) financing activities
Net increase in short-term loans payable
Net Increase in commercial papers
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Payments for redemption of bonds with subscription
rights to shares
Proceeds from issuance of bonds
Purchase of treasury stock
Proceeds from sales of treasury stock
Cash dividends paid to minority shareholders
Other, net
Net cash provided by(used in) financing activities
IV Effect of exchange rate changes on cash and cash equivalents
V Net increase in cash and cash equivalents
VI Cash and cash equivalents at beginning of period
VII Increase in cash and cash equivalents resulting from merger
with unconsolidated subsidiaries
VIII Decrease in cash and cash equivalents resulting fromcorporate divestiture
VX Cash and cash equivalents at end of the period(Millions of Yen)
1Q FY3/10
1Q FY3/11
4/1/09 –4/1/10 –06/30/09
06/30/10(8,294)
11,833
810
2,934
12
104
(164)
(1,737)(13)54(88)
(904)
2,517
1–
(149)
16,544
1,005(16,772)(11,923)
10,565797
1,51636(573)(123)(1,470)
–
(62)
(686)
(629)
2,481
80
150(861)
10,242(4,994)(9,058)

–

4,056

(844)
6,898
1,148(3,164)(2,288)

1,289
835
908
(2,967)
(311)

2,594

(1,534)(298)(10,468)
690
(74)
5,152
(315)
863
597
(3,852)33(5,722)
1,239
(107)
199
(1,276)
1,349
147(4,137)

7,117
15,0004,847(13,978)(130)

13,59910,0003,790(32,676)(20,120)

II–(21,960)250(9)1(277)
269
13,0901,110
12,94256,299–(2)0(422)(335)(48,128)106(53,694)
113,480

–18

(126)

–

69,11459,804

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