Digital

Advertising

Consortium Inc.

（ＵＲＬ http://www.dac.co.jp/ ）Financial Highlights of Fiscal Year 2012 (April 1, 2011 to March 31, 2012) andFiscal Year 2011 (December 1,2009 to March 31,2011)(1) Consolidated operating results
Net sales

Fiscal Year 2012
Fiscal Year 2011

Fiscal Year 2012
Fiscal Year 2011

Fiscal Year 2012
Fiscal Year 2011

Operating income

Ordinary incomeMil.¥2,234（2,908 (Mil.¥2,295（3,018 (Mil.¥82,785 (77,943 (％‑)‑)Net income

Diluted Net income

ReturnReturn

Operating income

per shareper shareon equity

on assets

marginYen
2,726.61
3,318.52％‑)‑)Net income

Yen
2,708.36
3,300.80％
12.6
17.4

Comprehensive

Equity in earnings

income(losses) of affiliates

Mil.¥
1,842 (2,294 (％‑)‑)％‑)‑)

Mil.¥
1,369 (
1,745 (％8.215.2％‑)‑)％
2.7
3.7Mil.¥47103*DAC has decided to change its fiscal year end from November 30 to March 31 of each year.
No comparison is made because of the change in accounting periods.
(2)

Consolidated financial position
Total assets

Net assets

EquityEquity ratio

Equityper share
Fiscal Year 2012
(As of March 31,2012)
Fiscal Year 2011
(As of March 31,2011)

(3)

Mil.¥

Mil.¥％YenMil.¥

31,545

16,45334.1

22,172.82

10,76624,107

12,792

45.3

20,792.68

10,928

Consolidated cash flows

Fiscal Year 2012
Fiscal Year 2011

Net cash provided by

Net cash provided by

Net cash provided by

Cash and cash(used in) operating(used in) investing(used in) financing

equivalents at end ofactivities

activities

activities

period

Mil.¥
2,817
2,321

Mil.¥
80
164

1Mil.¥‑
1,178‑
312

Mil.¥
9,573
7,841

(4)

Cash dividend per share
TotalRecord date

End of 1st

End of 2nd

End of 3rd

End ofAnnual

Amountquarterquarterquarter

perioddividendofdividends

Yen

Yen

Yen

Yen

YenDividend
Payoutratio

Mil.¥

％

Fiscal Year 2011

―0.00

―

700.00700.00367

21.1

Fiscal Year 2012
Fiscal Year 2013
(expected)

―

0.00

―

600.00600.00

291

22.0

―

TBD

―

TBD

TBD

TBD

TBD

（5）Consolidated earnings forecast of 1st Quarter of Fiscal Year 2013(April 1,2012 to June 31,2012)

st1

quarter ofFY 2013

Net sales

OperatingincomeOrdinaryincome

Net income

Mil.¥％
21,800 (22.3)〜24,010 (34.7)

Mil.¥％377（17.6)〜515 (60.6)

Mil.¥％398（18.6)〜536 (59.7)

Mil.¥％
101（‑3.8)〜146 (40.0)

2

Net income
per share
Yen
208.01〜300.69DAC Consolidated Financial Statements(1)DAC Consolidated balance sheets(Unit:Thousands of Yen)
Items of an account

FY2011(As of March 31, 2011)

FY2012(As of March 31, 2012)

AmountAmountAssetsCurrent assets
Cash and deposits

7,849,895

9,927,853

Notes and accounts receivable-trade

10,568,054

12,399,121

Short-term investment securities

5,013

704,752

Operational investment securities−

1,002,177

1,273,816

1,363,716

Other
Allowance for doubtful accounts
Total current assets-18,900-12,096

19,677,880

25,385,523

Noncurrent assets
Property, plant and equipment
Buildings

333,803

460,499

Accumulated depreciation-181,052-135,729

Buildings, net

152,750

324,769

Tools, furniture and fixtures

654,687

839,772

Accumulated depreciation-491,007-567,710

Tools, furniture and fixtures, net

163,679

272,061

Lease assets

12,49919,315

Accumulated depreciation-4,016-10,723

Lease assets, net
Total property, plant and equipment

8,482

8,592

324,913605,424

Intangible assets
Goodwill

1,043,118

914,291

Software539,487965,634

Software in progress

42,92575,982

Other

12,99920,084

1,638,531

1,975,993

Total intangible assets
Investments and other assets
Investment securities

1,634,851

2,086,976

Guarantee deposits

695,361

1,132,855

Other143,643

380,920

Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

3-8,173-22,067

2,465,683

3,578,685

4,429,127

6,160,10324,107,007

31,545,626

(Unit:Thousands of Yen)
Items of an account

FY2011(As of March 31, 2011)

FY2012(As of March 31, 2012)

AmountAmountLiabilities
Current liabilities
Accounts payable-trade8,416,399

Short-term loans payable

20,00010,751,372
419,500

Current portion of long-term loans payable

129,254

171,652

Accounts payable-other944,999

1,361,002

Income taxes payable531,737

599,196

Provision for bonuses

231,573

162,248

Provision for directors' bonuses

63,00014,000Other566,887

791,441

10,903,851

14,270,414

Long-term loans payable

42,532

316,938
237,571

Total current liabilities
Noncurrent liabilities

Provision for retirement benefits

173,897

Provision for point card certificates

41,14640,971

Other

153,057

225,788

Total noncurrent liabilities
Total liabilities

410,632

821,269

11,314,484

15,091,683

Net assets
Shareholders' equity
Capital stock

4,031,837

4,031,837

Capital surplus

3,184,465

3,184,465

Retained earnings

3,833,905

4,928,342

Treasury stock-326,980-1,626,980

10,723,228

10,517,665

217,784

257,671

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment-12,527-9,213

Total accumulated other comprehensive income

205,256

248,458

154,752

287,895

Minority interests

Subscription rights to shares

1,709,285

5,399,923

Total net assets

12,792,523

16,453,943

24,107,007

31,545,626

Total liabilities and net assets

4

(2)DAC Consolidated Statements of Income(Unit:Thousands of Yen)
Items of an account

FY2011(December 1,2009
to March 31,2011)

FY2012(April 1,2011
to March 31,2012)

AmountAmountNet sales

77,943,070

82,785,163

Cost of sales

65,638,250

71,002,160

Gross profit

12,304,820

11,783,002

Selling, general and administrative expenses

9,396,463

9,548,976

Operating income

2,908,356

2,234,025

Non-operating income
Interest income

5,948

3,051

Dividends income

5,515

14,993

103,539

47,379Equity in earnings of affiliates

1,802

−−

10,834Other

11,10011,003

Total non-operating income

127,90787,263

5,909

7,968

Foreign exchange gains
Gain on tax-exempt consumption tax

Non-operating expenses
Interest expenses
Foreign exchange losses
Loss on investments in partnership

−

8,514

5,038

2,627

Other

7,142

6,670

Total non-operating expenses

18,08925,781

3,018,175

2,295,507

125,252

237,922−423,988

Ordinary income
Extraordinary income
Gain on sales of investment securities
Gain on negative goodwill
Other

192,057

46,585

Total extraordinary income

317,309708,496

Extraordinary loss
Loss on retirement of noncurrent assets

8,043

34,788

Impairment loss

14,095

110,176

Loss on valuation of investment securities

113,244

25,451

Other

13,26135,462

Total extraordinary losses

148,645

205,880

Income before income taxes

3,186,839

2,798,123

Income taxes-current

1,261,379

1,153,181

Income taxes-deferred-107,908

15,300

Income taxes

1,153,470

1,168,482

Income before minority interests

2,033,369

1,629,641

Minority interests in income
Net income

5287,767

259,797

1,745,601

1,369,844

(3)DAC Consolidated statements of comprehensive income(Unit:Thousands of Yen)
Items of an accountIncome before minority interests

FY2011(December 1,2009
to March 31,2011)

FY2012(April 1,2011
to March 31,2012)

AmountAmount
2,033,369

1,629,641

Other comprehensive income
264,050

205,976

Foreign currency translation adjustment

Valuation difference on available-for-sale securities-4,552

6,580

Share of other comprehensive income of associates accounted for using
equity method

1,690

−

Total other comprehensive income
Comprehensive income

261,188

212,556

2,294,557

1,842,198

2,009,050

1,540,630

285,507

301,568

Comprehensive income attributable toComprehensive income attributable to owners of the parent
Comprehensive income attributable to minority interests

6

(4)DAC Consolidated statements of cash flows(Unit:Thousands of Yen)
Items of an account

FY2011(December 1,2009
to March 31,2011)

FY2012(April 1,2011
to March 31,2012)ammount

ammount

Net cash provided by (used in) operating activities
Income before income taxes

3,186,839

2,798,123

Depreciation and amortization

422,168

397,946

Impairment loss

14,095

110,176

Amortization of goodwill

159,449

205,499

Increase (decrease) in allowance for doubtful accounts-114,495-12,402

Increase (decrease) in provision for directors' bonuses

43,412-49,000

Increase (decrease) in provision for point card certificates

34,575-20,871

Increase (decrease) in provision for retirement benefits

52,14563,674

Interest and dividends income-11,464-18,045

Interest expenses
Equity in (earnings) losses of affiliates
Loss (gain) on sales and retirement of noncurrent assets

5,909

7,968

-103,539-47,379

8,803

34,794Gain on sales of investment securities-125,252-237,922

Loss (gain) on valuation of investment securities

113,244

25,451−-423,988

Gain on negative goodwill
Loss (gain) on step acquisitions
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable-trade-158,201-25,809-3,859,296-1,095,071

36,602-21,821

3,058,187

2,166,825

Increase (decrease) in accounts payable-other440,487

3,751

Increase (decrease) in accrued consumption taxes

134,219-9,842Other, net-61,976

65,556

Subtotal

3,275,913

3,917,612

Interest and dividends income received

22,87918,051

Interest expenses paid

-5,909-7,968

Income taxes paid-971,214-1,110,186

Total net cash provided by (used in) operating activities

2,321,668

2,817,508

Net cash provided by (used in) investing activities
Proceeds from sales and redemption of securities

104,446

4,000

Purchase of investment securities-165,162-205,259

Proceeds from sales and redemption of investment securities

302,819

283,069

Purchase of property, plant and equipment-63,244-247,251

Purchase of intangible assets-283,013-441,896

Purchase of stocks of subsidiaries and affiliates-50,000−

Proceeds from sales of stocks of subsidiaries and affiliates

63,25085,050-22,000

Payments for asset retirement obligations−

Payments for liquidation of subsidiaries−-7,433

Proceeds from transfer of business−

24,000366,588

1,062,340−-68,859

Proceeds from purchase of investments in subsidiaries resulting in change in scope of consolidation
Purchase of investments in subsidiaries resulting in change in scope of consolidation
Payments for sales of investments in subsidiaries resulting in change in scope of consolidation-248,657−

Payments for guarantee deposits-30,191-374,520

Collection of loans receivable

50,000−Purchase of insurance funds−-11,458

Other, net

117,441506

Total net cash provided by (used in) investing activities

164,276

80,287

Net increase (decrease) in short-term loans payable-30,000

277,000

Proceeds from long-term loans payable

50,000342,350

Repayment of long-term loans payable-116,611-185,203

Purchase of treasury stock-132,208-1,300,000−

128,000

Net cash provided by (used in) financing activities

Proceeds from issuance of common stock to minority shareholders
Proceeds from exercise of stock option

70,46012,096

Cash dividends paid

-101,229-369,136

Cash dividends paid to minority shareholders-50,400-80,795

Other, net-2,536-3,232-312,526-1,178,922

Total net cash provided by (used in) financing activities-3,32912,823

Total net increase (decrease) in cash and cash equivalents

Effect of exchange rate change on cash and cash equivalents

2,170,089

1,731,696

Cash and cash equivalents at beginning of period

5,671,819

7,841,908

Cash and cash equivalents at end of period

7,841,908

9,573,605

7