Disclaimer

This document is an English-language translation of the non-consolidated financial summary of thefinancial results for the first quarter of the fiscal year ending March 31, 2012. This summary was
prepared originally in Japanese in accordance with generally accepted accounting principles in Japan(Japanese GAAP). If there are discrepancies between the English translation and the original document inJapanese, the Japanese version will take precedence.

kabu.com Securities Co., Ltd.

April 25, 2011
Non-Consolidated Financial Summary under Japanese GAAPFor the 1st Quarter(1Q) of the Fiscal Year Ending March 2012
Company name:
Listing:
Code number:
Representative:
Contact:

kabu.com Securities Co., Ltd.
1st section of the Tokyo Stock Exchange
8703
Masakatsu Saito, CEO
Takeshi Amemiya, CFO

1.Financial summary (April 1, 2011 to Jun 30, 2011)(1)Operating results
Operating
Net operating
revenues
revenues
millions of yen% millions of yen(%：change year-on-year)
Ordinary
Net income
income% millions of yen

3,293 (18.5)

2,791 (21.5)

1Q of fiscal year
ending March 2011

4,042

3,556

Earnings
per share

E-mail: ir@kabu.com

Operatingincome

1Q of fiscal year
ending March 2012

(5.9)

URL: http://kabu.com% millions of yen

731 (47.5)(6.3)

1,394(9.7)

Fully diluted
earnings per share

Return on equityyenyen%

1Q of fiscal year
ending March 2012

2.94

-

6.4

1Q of fiscal year
ended March 2011

5.81

5.81

11.9

% millions of yen

820 (41.3)
1,397(9.0)%

517 (50.3)
1,040

(1.6)

(2)Financial position
Total assets

Net Assets

Capital adequacy
ratio

Equity ratio

millions of yen

millions of yen%%

June 30, 2011

360,345

31,7418.8558.3March 31, 2011

395,005

32,615

8.3

553.1

2.Dividends
1Q
Fiscal year
ended March 2011-

Fiscal year
ending March 2012

-2Q-

Dividends per share
3Q-

4Q

Totalyenyen

8.00

8.00

3.Forecast for the Business Results of Full Fiscal Year (April 1, 2011 to March 31, 2012)
The Company’s principal business is acting as a broker in transactions in financial instruments, mainly securities.
Since this business is strongly influenced by conditions in equity and other securities markets, forecasting future
performance is extremely difficult. Accordingly the Company does not disclose forecasts of its performance. In
place of such forecasts, the Company discloses its quarterly financial results as quickly as possible. The Company
also provides monthly information on fees and commissions, which account for a high percentage of operating
revenues, the number of customer accounts, equity trading value, and other operating statistics that have a major
impact on the Company’s performance.

(1)Non-Consolidated Balance Sheets

AssetsCurrent Assets
Cash and bank deposits
Cash held in trust
Margin account assets
Loans receivable from customers
Cash deposited as collateral for securities
borrowed
Advances paid
Amount paid
Short term guarantee deposits
Prepaid expenses
Accrued income
Other
Total current assets
Fixed Assets
Tangible fixed assets
Intangible fixed assets
Investment and others
Investment securities
Long term guarantee deposits
Deferred income tax assets
Long-term advances paid
Other
Allowance for doubtful accounts
Total fixed assets
Total Assets

As ofMarch 31, 2011

(Unit : Millions of Yen)
As of
Jun 30, 2011

40,385222,299
95,74280,947

20,149206,740
99,81589,71914,794

10,096291
413
26,426219
1,044
1,228
388,051303
521
23,444
407
1,299
618
353,299

862
1,908
4,183
1,484
409
1,851
4,068
231
(3,861)
6,954
395,005

1,037
1,850
4,158
1,459
379
1,836
3,925
361
(3,803)
7,045
360,345

(Unit : Millions of Yen)
As of
Jun 30, 2011

As ofMarch 31, 2011
Liabilities
Current liabilities
Margin account liabilities
Loans from securities finance companies
Proceeds of securities lent on customers' accountPayables on collateralized securities transactions
Deposits received
Guarantee money received
Short-term borrowings
Accounts payable
Accrued expenses
Accrued income taxes
Deferred tax liabilities
Provision for bonuses
Other
Total current liabilities
Long-term liabilities
Long-term borrowings
Other
Total long-term liabilities
Statutory reserves
Reserve for financial product transaction liabilities
Total statutory reserves
Total liabilities
Net assets
Shareholders' equity
Common stock
Additional paid in capital
Retained earnings
Treasury stock
Total shareholders' equity
Valuation and translation adjustments
Net unrealized gain on investment securities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

61,39330,201
31,192
10,232
117,107
127,615
23,000154
603
771

341,21037,42813,461
23,966
16,117
111,844
125,882
15,000
122
567
265
64
9
233
307,535

20,000370
20,37020,000287
20,287809
809
362,389

780
780
328,604

7,196
11,91318,024(4,673)32,461

7,196
11,913
17,133(4,673)31,570154
154
32,615395,005171
171
31,741
360,345-

(2)Non-Consolidated Statements of Income(Unit : Millions of Yen)
1Q of fiscal year
1Q of fiscal year
ending March 2011
ending March 2012
(April 1 to June 30, 2010) (April 1 to June 30, 2011)
Operating revenues
Commissions
Brokerage commissions
Fees for offering, secondary distribution and solicitation
for selling and other services for professional investor

Other
Net gain on trading
Financial income
Total operating revenues
Financial expenses
Net operating revenues
Selling, general and administrative expenses
Transaction related expenses
Employment cost
Facilities and rentals
Outsourcing and office supplies
Depreciation and amortization
Duties and taxes other than income taxes
Provision to allowance for doubtful accounts
Other
Total selling, general and administrative expenses
Operating income
Non-operating income
Non-operating expenses
Ordinary income
Special profits
Reversal of reserve for financial product transaction
Reversal of allowance for doubtful accounts
Total special profits
Special losses
Valuation loss on investment securities
Loss on the effect of the adopting the accounting standard
regarding asset retirement obligations

Total special losses
Income before income taxes
Income taxes - current
Income taxes - deferred
Income taxes
Net income

2,536
2,006

1,841
1,391

4733481
1,506
4,042
486
3,556

417
5
1,445
3,293
502
2,791

926
251
464
184
237
50
10
37
2,162
1,394
19
15
1,397

880
223
393
156
322
45
37
2,059
731
93
4820

381
3385

28

5

1

13-

19
1,763
536
186
722
1,040

1
847
259
70
329
517

28

(3)Non-Consolidated Statement of Income by Quarter (Quarterly transition)

Operating revenues
Commissions
Brokerage commissions
Fees for offering, secondary distribution and solicitatio
for selling and others for professional investor

Other
Net gain on trading
Financial income
Total operating revenuesFinancial expenses
Net operating revenues
Selling, general and administrative expenses
Transaction related expenses
Employment cost
Facilities and rentals
Outsourcing and office supplies
Depreciation and amortization
Duties and taxes other than income taxes
Provision to allowance for doubtful accounts
Other
Total selling, general and administrative expenses
Operating income
Non-operating income
Non-operating expenses
Ordinary income
Special profits
Reversal of reserve for financial product transaction
Reversal of allowance for doubtful accounts
Profits on sales of investment securities
Total special profits
Special losses
Valuation loss on investment securities
Provision of reserve for financial product transaction
Loss on disposal of fixed assets
Loss on the effect of the adopting the accounting standard
regarding asset retirement obligations

Provision to allowance for doubtful accountLoss on cancellation of lease contracts
Total special losses
Income before income taxes
Income taxes - current
Income taxes - deferred
Income taxes
Net income(lost)(Unit : Millions of Yen)
4Q of
1Q of
FY 2011 FY 2012

1Q of
FY 2011

2Q of
FY 2011

3Q of
FY 2011

2,536
2,006

1,752
1,2881,889
1,359

2,535
2,080

1,841
1,391

47

35

40

4433

411
6
1,256
3,798
277
3,521

417
5
1,445
3,293
502
2,791

908
213
445
159
300
25
0
43
2,095
1,426
15
36
1,405

880
223
393
156
322
45

481

427

1,506
4,042
486
3,556

1,225
2,977
226
2,751

488
2
1,341
3,233
456
2,776

926
251
464
184
237
50
10
37
2,162
1,394
19
15
1,397

844
238
438
166
248
23
0
38
1,998
752
139
138
753

798
223
442
139
264
350
35
1,938
837
110
848

381
3

4---

3855-

13
19
1,763
536
186
722
1,040

0-

729
284
313

0
1286
2

4-

7-

37
2,059
731
93
4
820
28
28
1-----------

0
757
385
(75)
310
447

1854
383
(33)
349
505

3,172
41
3,501
(1,782)
478
(865)
(387)
(1,395)

1847
259
70
329
517

(4)Monthly Business Data
Jan-11

Feb-11Mar-11

Apr-11

May-11

Jun-11

Number of customer accounts *1 (at month-end)

724,548

727,150

731,891735,029

737,647

740,266

Number of customer accounts from Bank of Tokyo-Mitsubishi UFJ
and other partners (at month-end)

42,887

43,122

43,69844,032

44,32044,639Number of margin customer accounts *1 (at month-end)

75,762

76,141

76,832

77,172

77,41377,814

Number of forward and option customer accounts *1 (at month-end)

31,48031,77632,59533,203

33,46433,641

Number of OTC FX customer accounts *1 (at month-end)

37,536

37,846

38,46038,91939,24339,534

Number of customers using stock lending service

13,88013,596

12,11913,661

13,836

13,862Average daily number of executed equity trades *2

45,77947,695

58,101

40,252

37,231

34,663

Average daily number of executed cash trades *2, 3

20,83222,00728,804

17,38916,243

14,792Average daily number of executed margin trades *2

24,947

25,68829,29722,862

20,98819,871

Average value of equity trading (thousands of yen)

920

1,028

908

884

878

883

Average value of cash trading *3 (thousands of yen)

587

664

590

546

511

514

Average value of margin trading (thousands of yen)

1,198

1,340

1,221

1,141

1,163

1,158

Monthly trading value of OTC FX (100 millions of yen)

8,744

8,500

11,450

10,662

10,475

10,075

Amount of customer assets *4 (at month-end) (millions of yen)

1,133,489 1,180,014 1,109,338 1,107,959 1,096,550 1,103,989

Margin trading balance *5 (at month-end) (millions of yen)

115,048

123,380

112,139

105,185

112,870

113,685

Amount of stock lending (at month-end) (millions of yen)

71,752

72,37135,45665,44965,76563,969Jul-10Aug-10

Sep-10

Oct-10Nov-10Dec-10

Number of customer accounts (at month-end)

711,118

713,199

715,421717,366

719,476

721,823

Number of customer accounts from Bank of Tokyo-Mitsubishi UFJand other partners (at month-end)

41,74841,881

42,12842,32842,56542,704

Number of margin customer accounts (at month-end)

73,69474,04574,40674,74775,03175,354

Number of forward and option customer accounts (at month-end)

29,65530,08230,50330,77831,041

31,218

Number of OTC FX customer accounts (at month-end)

34,59835,28935,92736,53736,93637,199Number of customer using lending stock service

13,435

13,291

12,657

13,606

13,664

13,651

Average daily number of executed equity trades

28,571

28,27629,48330,37335,64838,406

Average daily number of executed cash trades

12,843

12,748

13,202

12,66014,643

17,150

Average daily number of executed margin trades

15,727

15,527

16,28017,71321,005

21,255

Average trading value of equity trading

913

879

906

917

880

876

Average trading value of cash trading

516

497

531

507

562

578

Average trading value of margin trading

1,238

1,192

1,210

1,209

1,103

1,117

11,703

10,945

11,766

10,556

12,2288,336Monthly trading value of OTC FX (100 millions of yen)Amount of customer assets (at month-end) (millions of yen)

1,055,660 1,017,304 1,037,481 1,017,255 1,069,484 1,109,805

Margin trading balance (at month-end) (millions of yen)

116,614

115,201

111,166

102,834

97,203106,214Amount of lending stock (at month-end) (millions of yen)

66,302

61,64442,28962,212

66,98065,912*1 : The number of accounts includes corporate accounts.
*2 : The number of trades includes partially executed trades.
*3 : Cash trading includes odd-lot stocks ("Puchi Stock" ®) and transactions through “kabu.comPTS”, excluded institutionalinvestors.
*4 : Amount of customer assets is the value on a market price basis at month-end.
*5 : Margin trading balance is the value on a handover basis at month-end.

Jan-10

Feb-10Mar-10

Apr-10May-10Jun-10

Number of customer accounts (at month-end)

693,240

696,509700,162703,038

705,680

708,753

Number of margin customer accounts (at month-end)

70,971

71,50872,00740,40040,838

41,297

Number of forward and option customer accounts (at month-end)

28,05928,31928,60472,43672,88073,341

Number of OTC FX customer accounts (at month-end)

31,01731,60932,19928,852

29,14229,366

Number of customer using lending stock service

13,043

12,933

11,69632,781

33,52434,027

Average daily number of executed equity trades

43,93634,82539,721

13,197

13,243

13,288Average daily number of executed cash trades

22,39916,24518,802

49,24644,08832,910

Average daily number of executed margin trades

21,536

18,58020,91824,376

21,951

15,215

906

886

889

24,86922,137

17,964

Average trading value of equity trading
Average trading value of cash trading

589

543

623

906

910

912

Average trading value of margin trading

1,236

1,186

1,129

631

587

541

Monthly trading value of OTC FX (100 millions of yen)

3,619

7,074

8,001

1,176

1,230

1,232

1,051,733 1,053,185 1,120,713

11,232

16,11011,431

Amount of customer assets (at month-end) (millions of yen)Margin trading balance (at month-end) (millions of yen)

110,017106,832

105,892 1,162,927 1,078,391 1,045,962
71,72465,826

63,121

Jul-09Aug-09Sep-09Oct-09

Nov-09Dec-09Number of customer accounts (at month-end)

677,303679,668

682,289

684,895

687,469690,015

Number of margin customer accounts (at month-end)

67,94868,367

68,941

69,48469,89570,43027,214

Number of forward and option customer accounts (at month-end)

26,23926,496

26,821

Number of OTC FX customer accounts (at month-end)

28,07528,53029,166

Number of customer using lending stock service

12,24012,331

11,763

12,736

27,512

27,76730,06830,47812,86812,902Average daily number of executed equity trades

44,00744,712

39,32435,90834,18335,993

Average daily number of executed cash trades

22,47623,207

20,52816,994

16,294

17,346

Average daily number of executed margin trades

21,53021,504

18,796

18,914

17,88818,646

Average trading value of equity trading

879

953

883

912

864

940

Average trading value of cash trading

589

665

600

590

546

620

Average trading value of margin trading

1,181

1,264

1,193

1,202

1,154

1,238

4,529

3,867

3,637

4,023

3,163

3,596

Monthly trading value of OTC FX (100 millions of yen)Amount of customer assets (at month-end) (millions of yen)

1,070,091 1,104,627 1,058,518 1,052,055

992,541 1,047,100

Margin trading balance (at month-end) (millions of yen)

100,922106,232

104,995

110,044

105,682

99,110

Amount of lending stock (at month-end) (millions of yen)

67,97469,73745,383

67,951

63,752

63,424