Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the First Half of Fiscal 2010 ended March 31, 2010
November 10, 2009
Company:
Stock code:
URL:

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

Fiscal 2009 1H: April 1, 2008- September 30,2008
Fiscal 2009:
April 1, 2008-March 31, 2009
Fiscal 2010 1H: April 1, 2009-September 30, 2009
Fiscal 2010:
April 1, 2009-March 31, 2010

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 Half of Fiscal 2010 (April 1, 2009 through September 30, 2009)(1) Operating Results
Income (loss) from
Ordinary income
Net income
Net Sales
operations
1H FY3/10
1H FY3/09

Millions of Yen%
357,938 –16.6
429,069–EPS%––

Millions of Yen–4,316–3,379% Millions of Yen––7,988––7,323%––

Diluted EPS
Yen––Yen–8.53–7.80

1H FY3/10
1H FY3/09Millions of Yen–1,732
4,507(2) Financial Position
Total assets
Millions of Yen
1,130,513
1,158,086

1H FY3/10
FY3/09Total net assets
Millions of Yen
220,899
220,038

Equity ratio%
16.3
15.9

Equity per share
Yen
197.64195.802. Dividends
Dividend per share

FY3/09FY3/10FY3/10(forecast)

1Q

2Q

3Q

4Q

Yen

Yen

Yen

Yen

Total
Yen

——

2.00
0.00

—

0.00

2.00——————

3. Consolidated Results Forecast for the Fiscal 2010(April 1, 2009 through March 31, 2010)
Income from
Ordinary income
Net income
Net sales
operations
FY3/10EPS

Millions of Yen%

Millions ofYen%

Millions of Yen%

Millions ofYen%

Yen

737,000

–15.5

5,000

–55.2

500

—–4,500—–4.80

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

ItemAssetsCurrent 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
Current assets
Non-current assets
A. Property, plant and equipment
Buildings and structures, net
Machinery, equipment, and vehicles, net
Land
Other, net
Property, plant and equipment
B. Intangible assets
Goodwill
Other
Intangible assets
C. Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Investments and other assets
Non-current assets
Total assets

1H FY3/10(As of 9/30/09)(Millions of Yen)
FY3/09(As of 3/31/09)

60,853
153,156
38,4108,741
43,352
37,198–1,829339,883

61,052
172,62136,75812,361
46,53838,287–1,961
365,659

170,875
145,546
173,50968,751
558,683

173,584
151,198
173,566
57,990556,339

20,66637,50658,173

21,34337,04958,392

101,734
81,181–9,142
173,773790,630
1,130,513

103,153
84,072–9,530177,693
792,426
1,158,086

Page 2 of 6

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

Item
LiabilitiesCurrent 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 head office transfer cost
Provision for loss on transfer of business
Other provisions
Other
Current liabilities
Non-current 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
OtherNon-current liabilities
Liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Shareholders’ equity
Valuation and translation adjustments
Unrealized gain on other securities
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

1H FY3/10(As of 9/30/09)(Millions of Yen)
FY3/09(As of 3/31/09)

77,577284,223
10,00020,78512,087

100,877
280,702
22,000
785
–

2,488
5,253
7–
5,438
846
55,806474,515

2,292
5,740
26
428
5,438
818
65,156484,266

63,36322,035
235,053
35,494811

73,181
34,137
232,559
34,215
1,083

138

138

388
77,813435,098
909,614361
78,104
453,780
938,047

69,49960,743
81,766–2,476
209,532

69,49960,74589,743–1,702
218,286

7,746
–74
4,548
–34,567–2,707–25,053
36,420220,899
1,130513

4,952
–97
4,559
–41,379–2,567–34,531
36,284220,038
1,158,086

Page 3 of 6

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

(Millions of Yen)
1H FY3/09
1H FY3/10(4/1/08–(4/1/09–9/30/08)
9/30/09)429,069
357,938Item
Net sales
Cost of sales

352,140

296,884

Gross profit

76,92961,053

Selling, general and administrative expenses

72,42162,786

Income (loss) from operations

4,507–1,732

Interest income

591

304

Dividends income
Equity in earnings of unconsolidated subsidiaries
and affiliates
Other

841

893

–

503

1,935

2,574

3,368

4,275

5,436

5,002

3,922

–

1,897

1,857

11,256

6,860–3,379–4,316

Gain on disposal of non-current assets

1,584

361

Gain on sales of investments in securities

657

13

127
2,368

269
644

Loss on disposal of non-current assets

955

1,323

Loss on impairment of fixed assets

893

14

Other

984

1,190

2,833

2,528

Loss before income taxes and minority interests (–)–3,844–6,201

Income taxes-current

3,307
–759

1,926

–2,548

1,803

931

–16

–7,323–7,988Non-operating income

Non-operating income
Non-operating expenses
Interest expenses
Equity in losses of unconsolidated subsidiaries
and affiliates
Other
Non-operating expenses
Ordinary loss (–)
Extraordinary gain

Other
Extraordinary gain
Extraordinary loss

Extraordinary loss

Income taxes-deferred
Income taxes
Minority interests in net
consolidated subsidiaries (–)
Net loss (–)

income(loss)

of–122

Page 4 of 6

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

ItemI

Cash flows from operating activities
Loss before income taxes and minority interests(-)
Depreciation and amortization
Amortization of goodwill
Equity in losses(earnings) of unconsolidated subsidiaries
and affiliates
Write-off of investments in 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
Decrease in allowance for doubtful accounts
Increase(Decrease) in other provisionInterest and dividends incomeInterest expenses
Loss(Gain) on sales of investment in securities
Liquidation of unconsolidated subsidiaries and affiliates
Loss(Gain) on sale/disposal of property, plant, andequipment
Loss on impairment of fixed assets
Decrease(Increase) in notes and accounts receivable-trade
Decrease(Increase) in inventories
Decrease in notes and accounts payable-trade
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Cash flows from operating activities

Cash flows from investing activities
Decrease(Increase) in time deposits
Purchase of property, plant, and equipment
Proceeds from sale of property, plant, and equipment
Purchase of investments in securities
Proceeds from sales of investment in securities
Purchase of investments in subsidiaries resulting inchange in scope of consolidation
Proceeds from sales of subsidiaries resulting in change inscope of consolidation
Payments of loans receivableCollection of loans receivable
Other, net
Cash flows from investing activities
III Cash flows from financing activities
Net increase(decrease) in short-term loans payable
Net Increase(decrease) in commercial paper
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Proceeds from issuance of bonds
Proceeds from issuance of common stock
Purchase of treasury stock
Proceeds from sales of treasury stock
Cash dividends paid
Cash dividends paid to minority shareholders
Other, net
Cash flows from financing activities
IV Effect of exchange rate changes on cash and cash equivalents
V Decrease in cash and cash equivalents
VI Cash and cash equivalents at beginning of the period
VII Cash and cash equivalents at beginning of the period resulting
from change of scope of consolidation
VIII Decrease in cash and cash equivalents resulting from corporate
division
IX Cash and cash equivalents at end of the period(Millions of Yen)
1H FY3/09
1H FY3/10
4/1/08 –4/1/09 –9/30/08
9/30/09–3,844
24,6101,351–6,201
23,930
1,669

3,922

-503

241
–1,129–544–1,167–36–283
435–1,433
5,436
–594
44

197
55
–271
–489
–19
–526
–741
–1,197
5,002
227
0-628

961

893
365
–20,850–5,257–5,832–4,301
1,424–5,771–3,145

14
20,570
6,273–23,243–6,284
19,423
2,146–5,169–1,687–11,794

14,712

1,315–23,649
3,381–4,2881,720–680–22,504
1,062
–118
6,349

–48,055––59–2,6001,242
1,902–69,031–1,621
1,565
1,336–14,552

27,72327,00061,592–35,051
–766
–
2,157
–
22
–2,822–647–103
79,103–1,094–2,81660,051–4,730–12,000
32,777–26,252–317
10,500
––775
1
––632
–480
–1,909960–788
56,299718–––126

57,95355,383

II

Page 5 of 6

Segment Information
All yen figures are rounded down to the nearest one million yen.

[Industry Segments](Millions of Yen)

MineralCementResources
Business
Business
Net sales(1) Net sales tooutside
221,639
customers(2) Intersegment
5,497
net sales
Total
227,136
Income (loss)
from–2,892
operations(-)

Environmental
Business

1H FY3/10 (4/1/09 – 9/30/09)
Construction Ceramics &Materials Electronics Other
Business
Business

Eliminations
Consolidated
or corporate
total
assetsTotal

35,21826,09939,981

7,016

27,983357,938—

357,938

8,743

2,957

3,092

23

18,39038,705(38,705)—

43,961

29,05743,074

7,039

46,373396,643(38,705)

357,938

395

2,186

328

–2,422

1,061–1,343(388)–1,732All yen figures are rounded down to the nearest one million yen.

[Geographic segments](Millions of Yen)
1H FY3/10 (4/1/09 – 9/30/09)

JapanNet sales(1) Net sales tooutsidecustomers(2) Intersegment
net sales
Total
Income (loss)
from
operations(-)

North America

Asia

Other

Eliminations
Consolidated
or corporate
total
assetsTotal

303,902

28,55823,844

1,632

357,938—

357,938

2,991—

1,362—4,354(4,354)—

306,893

28,55825,207

1,632

362,292(4,354)357,938847–3,867

1,818

127–1,074(658)–1,732

Overseas sales
All yen figures are rounded down to the nearest one million yen.

I
Overseas sales
II Consolidated sales
III Ratio of overseas sales to consolidated sales

North America
28,630—8.0%(Millions of Yen)
1H FY3/10 (4/1/09 – 9/30/09)
Asia
OtherTotal
29,1797,152
64,962——357,938
8.2%
2.0%
18.2%

Page 6 of 6