February 13, 2012
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TODA CORPORATION
Shunzo Inoue
President and Chief Executive Officer
1860
First Section of Tokyo Stock Exchange andFirst Section of Osaka Securities Exchange
Toshihiro Otomo
Executive Officer and General Manager,
General Affairs Division
Tel.: +81-3-3535-1357

Notice Regarding Revisions to Earnings and Dividend Forecasts
We hereby announce revisions to the earnings and dividend forecasts, which were publicly
announced on November 10, 2011, as described below by taking into account the trends of recent
business performance.
1. Revisions to Earnings Forecast
Revisions to the forecasts of the full-year consolidated business performance for FY2011, the year
ending March 31, 2012 (from April 1, 2011, to March 31, 2012)(Millions of yen, %)Net
Operating
Ordinary
Net
incomeNet sales
incomeincomeincomeper share(Yen)Previous forecast (A)463,500
8,900
10,0004,600
14.89(Released on November 10, 2011)
Revised forecast (B)495,500(7,500)(6,500)(18,000)(57.80)
Increase/decrease (B – A)
32,000-16,400-16,500-22,600
Rate of change (%)
6.9%-184.3%-165.0%-491.3%(Reference)
Actual results for FY2010
452,499
5,766
7,265
3,567
11.53
(ended March 31, 2011)
Revisions to the forecasts of the full-year non-consolidated business performance for FY2011, theyear ending March 31, 2012 (from April 1, 2011, to March 31, 2012)(Millions of yen, %)Net
Operating
Ordinary
Net
incomeNet sales
incomeincomeincomeper share(Yen)Previous forecast (A)433,000
8,200
9,300
4,250
13.65
(Released on November 10, 2011)
Revised forecast (B)464,000(8,200)(7,100)(18,100)(58.13)
Increase/decrease (B – A)
31,000-16,400-16,400-22,350
Rate of change (%)
7.2%-200.0%-176.3%-525.9%(Reference)
Actual results for FY2010
428,859
5,462
6,717
2,920
9.37
(ended March 31, 2011)1

Reason for the revisions:
1. Non-consolidated earnings forecast
Net sales are expected to increase by approximately ¥31.0 billion from the previous forecast,reflecting the progress of construction work that has advanced further than previouslyprojected.
In terms of profit, given the harsh business environment, the Company has increased theprovision for loss on construction contracts by approximately ¥3.5 billion in view of the weakgrowth in profit from construction work, which has been affected by deteriorating labor
conditions and other factors. In the real estate business, operating income and ordinary
income have been decreased by approximately ¥16.4 billion, respectively, because a segment
loss of approximately ¥5.2 billion is expected by posting valuation loss on real estate for saleof approximately ¥7.3 billion.
Net income is expected to decrease by ¥22.3 billion mainly due to such expected factors as
the posting of approximately ¥4.0 billion in loss on valuation of investment securities under
extraordinary loss, and of approximately ¥5.2 billion in reversal of deferred tax assets inassociation with a tax system revision. Please refer to the “Notice Regarding the Posting of aValuation Loss on Real Estate for Sale, Etc., and the Reversal of Deferred Tax Assets,” which
was also released today, for details of the posting of valuation loss on real estate for sale, etc.
2. Consolidated earnings forecast
The relevant figures of the consolidated earnings forecast have been revised due to same
reasons to those for the revisions to the non-consolidated earnings forecast.
2. Revisions to Dividend Forecast(Yen)
Annual dividend per share
2Q-end3Q-endYear-end

1Q-endPrevious forecast(Released on November 10, 2011)
Revised forecast
Actual result for FY2011
Actual result for FY2010(ended March 31, 2011)

Total

―――

7.00

7.00

―
―

―
―

―
―

6.00

6.00

―

―

―

7.00

7.00

Reason for the revisions:
The Company’s basic policy on returning profits to shareholders is to continue to provide
each of its shareholders with stable dividend payments by taking into account businessperformance and the business environment while ensuring that there are sufficient internal
reserves to strengthen its competitiveness and financial structure.
Based on this policy, the Company has revised the forecast of the annual dividend pershare for FY2011 to ¥6.00 by comprehensively taking into account the aforementioned
forecasts of the full-year business performance and the anticipated future businessenvironment.
(End of document)2