FY2012 Second Quarter Financial Results

August 21, 2012
World Intec Co., Ltd.
JASDAQ (2429)

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved

Content

1. Summary of Second Quarter Results for FY2012
2. Segment Highlights
3. FY2012 Business Forecasts

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved2World Intec Group ： Three Core Businesses

World Intec Co., LtdGroup

e-support, inc.
・Call center business

World Online Co., Ltd.
・Corporate business・OA equipment sales

Network Solution Co., Ltd.
・Softbank shop business・WILLCOM shop business

World Residential Co., Ltd.
・Condominium business・Condominium management business・Contract selling business

Nichimo Real Estate Co, Ltd.
・Contract selling business・Real estate consulting business

World Resiselling Co., Ltd.
・Selling agency
・Contract selling business

Mobile Service Co., Ltd.
・au shop businessBest IT Business Co., Ltd.
・Corporate business

World iCity Co., Ltd.
・Condominium business・Selling agency
・Contract selling business

Suncity Selling Co.,, Ltd.
・Selling agency
・Contract selling business

R&D ・・・・・・ Dispatch of researchers
Technology ・・・・・・・・ Dispatch of engineers
Factory ・・・ Dispatch of manufacturers, Contractwork
CB ・・・・・・・・ Dispatch of sales personnel
Construction ・・・ Dispatch of construction managing
engineers
Administrative contract ・・・・・ Personnel training
Overseas ・・・・・・・・・ Parts procurement
Repair ・・・・・・・・ Repair service

WORLD INTEC FUKUSHIMA CO., LTD.
Administrative contract businessWORLD INTEC TAIWAN CO., LTD.
Overseas business…..Dispatch of manufacturers

Advan Co., Ltd.
Education business・PC school operations, educational
materials, software sales

GEOGRAPHIC INFORMATIONOF KYUSHU, INC.
・Map information sales

・Entrusted systemdevelopment
・Disabled persons’ employment support, education

WORLD INTEC SHANGHAI CO.,(non-consolidated)
LTD.
・Comprehensive human resources service
・Education consulting

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved

3

FY2012 Group Management Target
In FY2012, World Intec Group aims for consolidated sales of ¥50 billion!
OthersYoY＋8.0％

Million yen

Real estate
YoY＋412.9％
Information technology& telecommunications
business
YoY▲2.5％

R&D
YoY＋29.9％
Technology
YoY＋5.1％
Factory
YoY＋28.0％

FY10 actual

FY11 actual

FY12 plan
OthersOthersReal estate business

Real estate businessInformation technology &telecommunications businessInformation technology &telecommunications business

R&D business

R&D businessTechnology businessTechnology business

Factory business

Factory business

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved4

1. Summary of Second Quarter Results for FY2012

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved

5Overview of FY2012 Second Quarter
Did well by overcoming challenges and responding tobooming demand!
In the Factory business, amendments to the Worker Dispatch Law on April 6 increased demand for the dispatch of workers
to manufacturing industry. In particular, automobile and smartphone-related demands were strong but the effect ofinvestment in the 1st quarter logistics contract lowered profits YoY. The production technology field of the Technology
business centered on semiconductor was severe and growth in the design development field covered bad-debt loss of 68
million yen due to the bankruptcy of Elpida Memory. R&D business sales increased as a result of active recruitment andplacement to meet the expanded demand absorbing investment in the CRO system, and the business progressed almost
as planned.

Going strong by selling smartphones through Kyushu’s
No. 1 network!
Sold new smartphone and mobile phone models one after another and use of data communication terminals includingtablets and wifi routers spread that the whole market grew strongly.
Expanded its sales network by opening shops handling career wear and combined shops handling various career wear.
As a result, number of sales and commissions increased.

Changed to sales at the time of completion and there
delays but succeeded in contracts
Purchased land for nine properties for the next year and the year after taking business profitability into considerationand delivered two condominiums. Conducted community-based marketing activities.
During the period, as a result of changing the Monzennakacho project to sales at the time of completion, sales andprofits were partly shifted to the 2nd half. However, the number of contracts signed for condominiums (contract
properties included) that represents the actual state of marketing activities resulted in 192 units making good progress.

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved

6Overview of FY2012 Second Quarter : Increased Sales and Decreased Profits
Sales increased substantially due to the expansion of three core businesses. Information technology
and telecommunications business covered decreased profits resulting from the postponement in realestate. There was a 260 million yen gain in dealings in real estate in the previous fiscal year andoperating income dropped but decreased by 3.7% from the budge on an operating income basis,
which is almost under budget.

Consolidated sales:¥25,216 million (up 34.7% YoY)
Consolidated operating income: ¥311 million (down 39.5% YoY)
Consolidated ordinary income:¥319 million (down 52.3% YoY)
Consolidated net income:¥102 million (down 71.8% YoY)
Sales (FY2011)¥18,726 million

Sales (FY2012)¥25,216 million

30,0001,000

25,000800

20,000

600

0

5,000

△200

Real estate business¥515 million¥311 million

200

10,000

OthersOperating income(FY2012)400

15,0000Operating income(FY2011)△400

2011/12 2Q

2012/12 2Q

1,240

2,640

Head office costs

3,609

1,350

Information technology &telecommunications
business

4,434

6,167

Human resources

11,69912,797△600

2011/12 2Q

2012/12 2Q

△464

△517

Others21

111

Real estate business

238

21

Information technology& telecommunications
business

66

285

Human resources
education business

652

408

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7Quarterly Consolidated Business Results
Although there was Elpida-related loss in the Human resources education business and posting of part ofreal estate sales was postponed to the 2nd half, sales and profit were almost as planned due to favorable
Administrative contract business and Information technology & telecommunications business.
No change to full-year forecasts at this time.
(Operating margin:%)(Sales: Million yen)
16,000FY12/09

FY12/10

FY12/1115.0%

FY12/12 (est.)

13.0%

14,000

11.0%

12,0009.0%
10,000
7.0%
8,000
5.0%
6,000
3.0%
4,000

1.0%
0.0％
-1.0%

2,000

0
Sales
Operating margin

09/ 1Q

2Q

3Q

4Q

10/ 1Q

2Q

3Q

4Q

11/ 1Q

2Q

3Q

4Q

12/1Q

2Q

3Q (est.)

4Q (est.)

7,533
-2.0%

7,194
2.8%

6,959
1.0%

7,406
3.6%

7,652
2.0%

7,926
1.7%

7,886
-0.6%

8,644
1.2%

9,806
5.0%

8,920
0.3%

9,283
-0.2%

9883
0.9%

11957
0.9%

13259
1.2%

13529
4.6%

11677
3.5%

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-3.0%

8

Consolidated Financial Summary for the Second Quarter of FY2012 (vs. Budget)
Sales

・Information technology & telecommunications business exceeded
the budget by 1.5 billion yen

Operatingincome・Posted Elpida-related loss of 68 million yen in SG&A expenses

Ordinary
income・Increased due to non-operating income including rent income

Net income

・ Decreased due to increase in tax as a result of increased profit in the Information
technology & telecommunications business and increased minority interest(Consolidated)(Million yen)
Net sales
Operating income
Operating margin
Ordinary income
Ordinary income margin
Net income
Net income margin

FY12/12 2Q (Jan.-Jun.)budgetvs. budget

FY12/12 2Q (Jan.-Jun.)actualChangePct. change

24,40525,216

810

3.3%

323

311

△12

△3.7%

1.3%

1.2%

-

-

295

319

24

8.2%

1.2%

1.3%

-

-

167

102

△65

△38.8%

0.7％

0.4%

-

-

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9

Business Summary by Segment vs. Budget
FY12/12 2Q (Jan.Jun.) budget(Million yen)

FY12/12 (Jan.Jun.) 2Q actual

Net sales
Segment
incomeProfit margin

8,813

8,390

179

132

2.0%

1.6%

Net sales
Segment
incomeProfit margin

2,985

3,002

129

vs. budget
ChangePct. Change

△423
△47

△4.8%
△26.3%

160

31

24.0%

4.3%

5.3%

－

－

Net sales
Segment
incomeProfit margin

1,497

1,405

107

116

7.1%

8.3%

△92
9

△6.1%
8.4%

Information
technology &telecommunications
business

Net sales
Segment
incomeProfit margin

4,598

6,167

1,569

34.1%

140

285

145

103.6%

3.0%

4.6%

－

－

4,683

3,609

Real estate businessNet sales
Segment
incomeProfit margin

130

21

2.8%

0.6%

Net sales
Segment
incomeProfit margin

1,830

2,640

△1,074△109△22.9%△83.8%

114

111

6.2%

4.2%

Net sales

24,40525,216

△3

810

△2.6%

Elimination or corporate

△476
323

△515
311

1.3%

1.2%

△39
△12

－
△3.7%

Factory businessTechnology business

R&D business

OthersTota lOperatingincomeOperatingmarginCopyright © WORLD INTEC CO.,LTD. All Rights Reserved

－

17

－

－

810
－

－

－

0.6%

－

－

44.3%

－

3.3%

－

10

Consolidated Financial Summary for the Second Quarter of FY2012 (YoY)
Sales

・ Sales in all businesses increased resulting in 34.7% growth YoY

Operatingincome・ Profits from resold properties in the previous fiscal year in the Real estate business, which was aspecial case
68 million yen increase in head office cost due to Elpida-related loss

Ordinary
income・Received about 160 million yen in employment adjustment subsidy, etc. in the previous fiscal year

Net income

・ Decreased due to increase in tax as a result of increased profit in the Information technology &telecommunications business and increased minority interest(Consolidated)(Million yen)

FY12/11 2Q(Jan.-Jun.) actual

FY12/12 2Q(Jan.-Jun.) actual

YoY
ChangePct. change

18,72625,216

6,490

34.7%

515

311

△205

△39.5%

2.8%

1.2%

-

-

Ordinary income

668

319

△349

△52.2%

Ordinary income
margin

3.6%

1.3%

-

-

364

102

△262

△72.0%

1.9%

0.4%

-

-

Net sales
Operating income
Operating margin

Net income
Net income margin

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11

Business Summary by Segment YoY(Million yen)

132

4.4%

1.6%

2,855

3,002

△209

△61.3%

203

160

7.1%

5.3%

1,157

1,405

△43

△21.4%

108

116

7

7.3%

9.3%

8.3%

－

－

4,434

6,167

1,733

39.1%

66

285

218

328.8%

1.4%

4.6%

－

－

1,350

3,609

2,259

167.3%

238

21

17.6%

0.6%

1,240

2,640

△217

1,400

△91.0%

21

111

90

409.7%

1.6%

4.2%

－

－

Net sales

18,72625,216

6,490

34.7%

Elimination or corporate

Operating income

△464
515

△515
311

Operating margin

2.8%

1.2%

－
△204

△39.5%Net sales
Segment income
Profit margin
Net sales
Segment income
Profit margin
Net sales
Segment income
Profit margin
Net sales
Segment income
Profit margin

Tota lPct. Change

341

Segment income

Profit margin

OthersChange9.2%

Technol og y bus i nes s Segment income

R ea l es ta tebus i nes s(Jan.-Jun.) 2Q actual703

Net sales

Inf orm a ti on
technol og y &tel ecom m uni ca ti ons
bus i nes s(Jan.-Jun.) actual

8,390

Profit margin

R&D business

FY12/12

7,687

Net sales

F a ctory b us i nes s

YoY

FY12/11 2Q

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－

147
－

248

－

－

－

5.2%

－

21.4%

－

112.9%

12

FY2012 Second Quarter Balance Sheet (Assets)
Total assets

25,170Total assets increased 8,044 million yen compared with the end of theprevious fiscal year mainly due to increases in real estate forsale in process and real estate for sale

Total assets

17,126
Total assets

13,367
Cash & deposits
Accounts receivable

3,162
3,571

Real estate for salein process

3,829

Intangible fixed assets
Investments,
other assets

682
121

9,300 Current assets
23,146

Real estate for sale

1,264

Real estate for sale

Current assets,
11,505
Tangible fixed assets

in process

3,349
Accounts receivable 3,891
Cash & deposits

Real estate for salein process

5,092
Accounts receivable 4,968
Cash & deposits

7,083 Current assets,
15,407663
Intangible fixed assets
141
Investments, other assets 913

Tangible fixed assets

1,057 Fixed assets,1,861
FY10 (as of Dec. 31, 2010)

798
Intangible fixed assets
320
Investments, other assets 906

Tangible fixed assets

Fixed assets, 1,719
FY11 (as of Dec. 31, 2011)

Fixed assets,2,024
FY12/2Q (as of Jun. 30, 2012)

Million yen

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13

FY2012 Second Quarter Balance Sheet (Liabilities)
Total assets increased 8,044 million yen compared with the end of the previous fiscal
year mainly due to short and long-term debts procured for purchasing real estate forsale in process and real estate for sale

Total liabilities
and net assets

25,170Total liabilities
and net assets

17,126

Total liabilities
and net assets

Current liabilities
Short-term debt

13,367
Short-term debt
Accounts payable

2,397

Short-term debt

6,168

496 Current liabilities, Accounts payable 553

Accrued expenses

2,212

Long-term debt

1,761

6,445

Accruedexpenses

Fixed liabilities, 2,077

Long-term debt

Current liabilities

11,112

10,435

Accounts payable

1,028

Accruedexpenses

3,083

Long-term debt

2,710

16,9632,560

675 Fixed liabilities, 1,052

Fixed liabilities,3,127

Net assets,

Net assets,

Net assets,

4,893

4,961

5,080

FY10 (as of Dec. 31, 2010)

FY11 (as of Dec. 31, 2011)

FY12/2Q (as of Jun. 30, 2012)
Million yen

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14

2. Segment Highlights

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved15Percentage of Sales by Segment YoY Comparison①

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved16Percentage of Sales by Segment YoY Comparison②

FY11/2Q

FY12/2Q¥18,726 million¥25,216 million※Posting of sales from resale of properties in the Real estate business in theprevious fiscal year (FY12/11 1Q) is a special factor

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17

FY2012 Second Quarter Business Segment Report (1)Human resources education business
Sales
up

Factory businessProfitdown

Orders for manufacturing including automobiles and smartphones were strong. Posted prior investments in recruitment
and training for e-commerce-related logistics in the 1st half. Earn revenues in the 2nd half.

Technology business

Sales
up

Profit
down

Sales
up

Profitup

Demand for engineers in information and communications and automobile-related fields was strong but sales
increased and profit decreased due to personnel shift as a result of sluggishness in the semiconductor field including
Elpida-related loss. High expectations for contribution to profit in the 2nd half.

R&D businessContributions of strong orders in the field of general worker dispatching and active recruitment of specialized workers
absorbed investments in the improvement of CRO system.

Sales

Segment operating income

800

15,000600

10,000400
5,000
0R&D businessTechnology
business
Factory business

200
2011 2Q

2012 2Q

1,157
2,855

1,405
3,002

7,687

8,390

0
R&D businessTechnology
business
Factory business

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2011 2Q

2012 2Q

108
203

116
160

341

132

*Head office costs excluded18Factory Business Highlights: Percentages by Region and by Category of Business
FY12/11 2Q

FY12/12 2Q
Enrollment ：5,364
Japan ：
4,727
Taiwan ：637↗
↘

Enrollment ：6,107
Japan ：5,674
Taiwan ： 433

In Kyushu, automotive, precision equipment and logistics fields grew and in Kanto and Tohoku, mainly automotive field raised the percentages
Showed growth in the automotive field in Tokai but the percentages dropped due to cancellations in the electrical and electronics field andchemical field following last year’s earthquake disaster
3.4%

2012
/12
2Q

26.5%

2011
/12
2Q

17.2%

36.3%

8.9%

10.8%

13.9%

10.9%

6.8%

6.5%

5.0%

6.2%

3.7%

6.9%

12.6%

4.8%

2.4% 2.7%

11.9%

1.9%
0

1,000
Semiconductor

2,000Electronics

Machinery

3,000
Automobile

4,000
Precision

Energy5,000
Chemical

6,000
Food/consumables

7,000
Medicine

8,000

Information & communications

9,000
logistics

10,000

Others↗ Growth in the automotive, electrical and electronics, precision equipment and logistics fields↘ Semiconductor, machinery and environmental energy fields scaled down
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19Technology Business Highlights: Workforce and Sales by Category of Business

1.3%
7.2% 5.6%

2010 2Q 0.8%
2.4%

0.4%

2011 2Q

2.9%
3.2%
0.3%
5.4%

1.0%

0.5%

0.2%

5.1%

6.5%

6.8% 0.9%
74.3%

3.8%

1.2%

0.3%

Semiconductor
Information &communications
Automobile
Others

5.8%

Electronics

3.4%
10.1%

2012 2Q 0.4%

3.1%

Energy

6.0%
13.6%

66.8%

60.7%

MachineryPrecision
ChemicalWorkforce ：1,324 persons（ Production technology 1,009; design development 315 ）Workforce ：1,294 persons（ Production technology 892 ; design
development 402 ）Workforce ：1,294 persons

Medicine（Production technology 789; design
development 505）

Growth in the information and communications services field andautomobile field in design development
Shifted from semiconductor field to other fields in production
technology

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R&D Business Highlights:

Rate, Workforce and Operating Rate by Area

Of the personnel in FY2012 2Q, specialized worker dispatchingaccounted for 95% and general worker dispatching accounted for 5%(0% for general worker dispatching in FY11/2Q)

2011 2Q actual2012 2Q actual

Workforce：454persons

Workforce：528persons

Workforce：770persons(33 supervisors included)(37 supervisors included)(40 supervisors included)

Avg. operating rate：
91.0%

Avg. operating rate:
96.6%

Avg. operating rate:
More than 97%

Avg. unit cost of postingof new graduates
483,000 yen

Avg. unit cost of postingof new graduates
509,000 yen

Avg. unit cost of postingof new graduates
More than 510,000 yen

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved

2014 targets

21

FY2012 Second Quarter Business Segment Report (2)Information technology &telecommunications business

Sales upProfit up

Smartphone and tablet-related sales were strong due to Kyushu’s No.1 shop network. In particular, profit increased (up325% YoY) significantly as a result of selling smartphone-related items. It is expected to remain strong in the 2nd half
and the company will promote investments in shops.
ProfitReal estate business
Sales updown
Posting of sales of about 1.2 billion yen and operating income of about 160 million yen will be postponed to the 2nd halfbecause the sales of “Monzennakacho” were switched to sales at the time of completion. However, the number ofcontracts signed for condominiums that represents the actual state of marketing activities resulted in 192 units making
good progress.

Sales up

OthersProfit up

Substantial growth in the dispatch of sales staff involved in fashion businessIn the Administrative contract business, the contract business in Fukushima Prefecture remained strong
Other affiliate subsidiaries were also profitable resulting in substantial increases in sales and profit as a wholeSales

15,000550

10,000

350

5,000

150

0

2011 2Q

2012 2Q

Other businesses

1,240

2,640

Real estate business

1,350

3,609

Inform ation technology& telecom m unications
business

4,434

6,167

△50

Segment operating income

2011 2Q

2012 2Q

Other businesses

21

111

Real estate business

238

21

Inform ation technology& telecom m unications
business

66

285

0

*Head office cost excluded
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22

Information Technology & Telecommunications Business Highlights

No. of Mobile Phones： Totaland Smartphones Sold

Total no. of units sold

Units

Total no. of shops: 113

90,00080,00070,00060,00050,00040,00030,00059,53858,8142011 2Q

2011 3Q

83,19484,561

2012 1Q

2012 2Q

67,681

20,00010,00002011 4Q

Note) The above are consolidated fiscal years and are 3 months behind the calendar.
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23Real Estate Business Highlights ： Brisk Sales of Residential Series
Fiscal 2012 completion and posting of sales: 4 buildings/177 units
・ Residential Shinagawa-Nakanobu: Shinagawa-ku, Tokyo 42 units Feb. 2012 completion Began sales in Mar. 2012
・ Residential Ohanajaya: Katsushika-ku, Tokyo 67 units Mar. 2012 completion Began sales in Nov. 2011
・ Residential Monzennakacho: Koto-ku, Tokyo 24 units Jul. 2012 completion Began sales in Jul. 2012
・ Residential Kanamachi: Katsushika-ku, Tokyo 44 units Sept. 2012 completion Began sales in Nov. 2011
Residential Ohanajaya

Residential MonzennakachoContract rate at
the end of Jun.
75.8％
Residential Kanamachi

Residential Shinagawa-Nakanobu

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Contract rate at
the end of Jul.
86.0％

24

Real Estate Business Highlights: Successfully Earned Contracts against the Budget for FY2012

Monzennakacho Project：Changed from sales before completion to after completion∵Mockup cost reduced∴Posting of sales in the 2nd quarter → Postponed to the 2nd halfFirst period：Sold out on the same day in July! (as has been assumued)

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved25

3. FY2012 Business Forecasts

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26Summary of FY2012 Consolidated Business Forecasts No Change from the Initial Forecasts
Growth in sales of Human resources education business and improvement in profit margin
due to prior investment recovery
Improvement in profit margin of Information technology & telecommunications businessContribution of profitable Real estate business(Consolidated)(Million yen)

Net sales
Operating income
Operating margin
Ordinary income
Ordinary income margin
Net income
Net income margin

FY12/11
actualYoY change

FY12/12
plan

ChangePct. change

37,892

49,611

11,718

30.9%

588

1,361

773

131.6%

1.5%

2.7%

－

－

678

1,306

628

92.7%

1.7%

2.6%

－

－

214

645

431

201.4%

0.5%

1.3%

－

－

Copyright © WORLD INTEC CO.,LTD. All Rights Reserved27Summary of FY2012 Business Forecasts by Segment(Million yen)

FY11/12Net sales

Factory business

Segment income
Profit margin
Net sales

Technology business

Segment income
Profit margin
Net sales

R&D business

Segment income

FY12/12 forecast

15,722
596
3.7％

5,982
327
5.5％

2,502
241

Profit margin

9.6％

Net sales
Information technology& telecommunications Segment income
business
Profit margin

9,176

Real estate business

1,514

Segment income△75

Net sales
Segment income
Profit margin

Total

2.3％

Net sales

Profit margin

Others

213

△4.9％

2,994
157
5.2％

Net sales

37,892Elimination or corporate△873

Operating income
Operating margin

588
1.5％

20,120
1,026
5.1％
6,286
405
6.4％
3,250
278
8.6％
8,950
270
3.0％
7,769
165
2.1％
3,235
204
6.3％
49,611
△988
1,361
2.7％

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YoY
ChangePct. change

4,398

28.0%

430

72.1%

－

－

303

5.1％

78

23.8％

－

－

747

29.9％

37

15.4％

－

－

△226

△2.5％

56

26.7％

－

－

6,254

412.9％

240

－

－

－

240

8.0％

46

29.5％

－

－

11,719

30.9％
-

773

131.6％－－

28

For more information

Akihiko Omoto
Public Relations and Investor Relations Department
Corporate Planning Division
World Intec Co., Ltd.

TEL

03-3516-1122

E-MAILirinfo＠witc.co.jp

URL

http://www.witc.co.jp/

No information in this presentation is provided for the purpose of soliciting purchases or sales of World
Intec stock. Furthermore, opinions, forecasts and other information not based on historical facts represent
the judgments of World Intec at the time this presentation was prepared. World Intec does not guarantee
the accuracy of this information and may revise this information at any time without prior notice. World
Intec and other providers of this information assume no responsibility whatsoever for any losses incurredin association with the information in this presentation.

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