DigitalAdvertising（ＵＲＬ

http://www.dac.co.jp/ ）Consortium

Inc.

Financial Highlights of 3rd Quarter of Fiscal Year 2012 (April 1, 2011 to December 31, 2011) and3rd Quarter of Fiscal Year 2011 (December 1,2009 to August 31,2010)(1) Consolidated operating results
Net sales

Operating income

Ordinary income

Mil.\％
1,675（-)
1,197 ( 213.9)

Mil.\％
1,716（-)
1,268 (301.4)

Mil.\％
60,231 (-)
40,014 ( 12.2)

3rd Quarter of FY 2012
3rd Quarter of FY 2011

Net income

Diluted Net income

Comprehensiveper shareper shareincome

Yen1,487.89
1,380.543rd Quarter of FY 2012
3rd Quarter of FY 2011

Yen
1,477.23
1,371.67

Mil.\
957 (925 (Net incomeMil.\755 (725 (％-)-)％-)-)*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

Mil.\

3rd Quarter of FY 2012
(As of Dec 31,2011)
Fiscal Year 2011
(As of Mar 31,2011)(3)

Equity ratio

Mil.\％

23,734

12,23941.924,107

12,792

45.3

Cash dividend per share
End of 1st

End of 2nd

End of 3rd

End of 4th

End ofAnnual

quarterquarterquarterquarter

perioddividend

Record date
Yen

Yen

Yen

Fiscal Year 2011

―

0.00

―

Fiscal Year 2012
Fiscal Year 2012
(expected)

―

0.00

―

Yen

Yen

Yen

―

700.00700.00

TBD

TBD

TBD

（4）Consolidated earnings forecast of Fiscal Year 2012(April 1,2011 to March 31,2012)
Net sales

FY 2012

Mil.\％
81,025 ( -)～85,180( -)OperatingincomeOrdinary income

Mil.\％
2,096（ -)Mil.\％
2,161（ -)Mil.\％
909（ -)

Yen
1,809.32～2,368 ( -)～2,433 ( -)～1,049 ( -)～2,087.99

Net income

Net income
per share

DAC Consolidated Financial Statements(1)DAC Consolidated balance sheets(Unit:Thousands of Yen)
Items of an account

FY2011(As of March 31, 2011)

3rd Quarter of FY2012(As of December 31,2011)

AmountAmountAssetsCurrent assets
Cash and deposits

7,849,895

7,021,311

Notes and accounts receivable-trade

10,568,054

10,438,185

Short-term investment securities
OtherAllowance for doubtful accounts

5,013

193,306

1,273,816

1,238,386-18,900-7,95819,677,880

18,883,231

324,913334,843

Goodwill

1,043,118

970,157

Software539,487

656,667

Software in progress

42,92589,604

Other

12,99915,8501,638,531

1,732,279

Total current assets
Noncurrent assets
Property, plant and equipment
Intangible assets

Total intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

1,634,851

1,635,283

839,005

1,156,914-8,173-7,9102,465,683

2,784,287

4,429,127

4,851,409

24,107,007

23,734,641

(Unit:Thousands of Yen)
Items of an account

FY2011(As of March 31, 2011)

3rd Quarter of FY2012(As of December 31,2011)

AmountAmountLiabilities
Current liabilities
Accounts payable-trade8,416,399

8,327,559

Short-term loans payable

20,000317,000

Current portion of long-term loans payable

129,254

133,674

Accounts payable-other944,999

701,668

Income taxes payable531,737

511,398

Provision for bonuses

231,573259,347

Provision for directors' bonuses

63,00029,160

Provision for point card certificates

23,352－Other543,534

620,75710,903,851

10,900,566

Long-term loans payable

42,532

197,212

Provision for retirement benefits

173,897

215,690

Provision for point card certificates

41,146

41,161

Other

153,057

140,731

Total current liabilities
Noncurrent liabilities

Total noncurrent liabilities

410,632594,794

11,314,484

11,495,361

Capital stock

4,031,837

4,031,837

Capital surplus

3,184,465

3,184,465

Retained earnings

3,833,905

4,314,303

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

10,723,228

9,903,625

217,784

52,198Foreign currency translation adjustment-12,527-13,249

Total accumulated other comprehensive income

205,256

38,949154,752

194,776

Total liabilities
Net assets
Shareholders' equity

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Subscription rights to shares
Minority interests

1,709,285

2,101,929

Total net assets

12,792,523

12,239,280

24,107,007

23,734,641

Total liabilities and net assets

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

3rd Quarter of FY2011(December 1,2009
to August 31,2010)

3rd Quarter of FY2012(April 1,2011
to December 31,2011)

AmountAmountNet sales

40,014,407

60,231,439

Cost of sales

33,712,352

51,548,628

Gross profit

6,302,055

8,682,810

Selling, general and administrative expenses

5,104,671

7,007,791

Operating income

1,197,384

1,675,019

Interest income

3,976

2,172

Dividends income

5,143

12,078Non-operating income

467－

Equity in earnings of affiliates

60,43828,979Other

10,573

11,075

Total non-operating income

80,59954,3052,711

5,204－

1,501

Foreign exchange gains

Non-operating expenses
Interest expenses
Foreign exchange losses
Provision of allowance for doubtful accounts

3,000－

Other

3,385

6,510

9,097

13,215

1,268,886

1,716,109

118,605

231,059－

25,809Other

32,24820,862

Total extraordinary income

150,853

277,731

Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of investment securities
Gain on step acquisitions

Extraordinary loss
89,827－338

110,176

Loss on valuation of membership

1,897－

Loss on sales of stocks of subsidiaries and affiliates

1,314－

Other

9,33232,672

Loss on valuation of investment securities
Impairment loss

Total extraordinary losses

102,711

142,848

Income before income taxes

1,317,029

1,850,991

Income taxes-current

498,000

916,041

Income taxes-deferred-12,189-15,167

Income taxes

485,811

900,874

Income before minority interests

831,217950,117

Minority interests in income

105,278

194,313

Net income

725,939755,804

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

3rd Quarter of FY2011(December 1,2009
to August 31,2010)

3rd Quarter of FY2012(April 1,2011
to December 31,2011)

AmountAmount831,217950,117

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of associates accounted for using
equity method

96,870

8,661

-660

-1,481-1,502－

Total other comprehensive income

94,707

7,180

Comprehensive income

925,925

957,297

Comprehensive income attributable toComprehensive income attributable to owners of the parent

820,970

716,457

Comprehensive income attributable to minority interests

104,955

240,839

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

3rd Quarter of FY2011(December 1,2009
to August 31,2010)

3rd Quarter of FY2012(April 1,2011
to December 31,2011)

ammount

ammount

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

1,317,029

1,850,991

Depreciation and amortization

238,008

276,662338

110,176

Amortization of goodwill

69,020149,633

Increase (decrease) in allowance for doubtful accounts

4,976-11,204

Increase (decrease) in provision for retirement benefits

34,021

41,793

Impairment loss

Increase (decrease) in provision for directors' retirement benefits
Increase (decrease) in provision for point card certificates
Increase (decrease) in provision for directors' bonuses
Loss (gain) on change in equity－900

20,292-20,681

1,590-33,840-20,123

3,048－-18,037

Loss (gain) on sales and valuation of investment securities-28,777-231,059

Interest and dividends income-9,119-14,250

Interest expenses

2,711

5,204

-60,438-28,979

Loss (gain) on transfer of business

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

328

12,026

Loss (gain) on step acquisitions－-25,809

Loss (gain) on sales of stocks of subsidiaries and affiliates

1,314

－

Decrease (increase) in notes and accounts receivable-trade-632,113

135,888

Decrease (increase) in inventories-41,495-99,202

Increase (decrease) in notes and accounts payable-trade

265,945-93,070

Increase (decrease) in accounts payable-other-53,008-240,441

Increase (decrease) in accrued consumption taxes

108,716

36,915

Other, net

167,277

266,268

Subtotal

1,386,495

2,072,931

Interest and dividends income received

11,975

14,251

Interest expenses paid

-2,711-5,204

Income taxes paid

-407,586-940,693

Total net cash provided by (used in) operating activities

988,173

1,141,285

Net cash provided by (used in) investing activities－4,000Purchase of property, plant and equipment-22,322-160,412

Purchase of intangible assets-121,746-340,529

Purchase of investment securities-131,284-185,099

Proceeds from sales and redemption of investment securities

269,160

273,409

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

Proceeds from sales of stocks of subsidiaries and affiliates

66,43085,050－-68,859

Proceeds from redemption of securities

Purchase of investments in subsidiaries resulting in change in scope of consolidation
Proceeds from 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

45,797－-248,657

－－

4,000

Payments for guarantee deposits-5,671-208,787

Collection of loans receivable

29,162－

Purchase of insurance funds－-11,010－-7,433

Proceeds from transfer of business

Payments for liquidation of subsidiaries
Other, net
Total net cash provided by (used in) investing activities

3,297

306

-165,835-615,366

Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable

39,000297,000

Proceeds from long-term loans payable－292,350

Repayment of long-term loans payable-66,741-133,250-8-1,300,000

Proceeds from stock issuance to minority shareholders－128,000

Proceeds from exercise of stock option－12,096

Cash dividends paid

-101,229-367,915

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

Other, net-1,454-2,392-180,834-1,154,907

Purchase of treasury stock

Total net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Total net increase (decrease) in cash and cash equivalents-734-7,302640,768-636,290

Cash and cash equivalents at beginning of period

5,671,819

7,841,908

Cash and cash equivalents at end of period

6,312,587

7,205,618