August 6, 2015
Name of Listed Company:
Company Code:
Representative:
Title
Enquiries:
Title

ISEKI & CO., LTD.
Stock Exchange Listings: Tokyo
6310 (URL http://www.iseki.co.jp)
President
Name Noriyuki Kimura
General Manager of Financial Department Name Kazuma Takahashi
Telephone: +81 3 5604 7709

Date of Submission of Quarterly Report:
Scheduled Date to Commence Dividend Payment:
Supplementary Information for Quarterly Financial Results:
Quarterly Financial Results Briefing:

August 6, 2015—
Yes
Yes (for institutional investors and analysts)

Summary Announcement of Consolidated Financial Results
for the Three Months Ended June 30, 2015 (Japanese GAAP)
I. Financial Results for the Three Months Ended June 30, 2015 (April 1, 2015－June 30, 2015)
A. Results of Operations(Rounded down to a million yen, % indicates changes from the previous period)

Three Months Ended
June 30, 2015
34,214
267
397
134

%

Net Sales
Operating Income
Ordinary Income
Profit Attributable to Owners of Parent
Profit per Share (yen)Non-diluted
0.60
Fully Diluted
0.60
Note: Comprehensive income
Three months ended June 30, 2015: ¥177 mil. (-85.8%)
Three months ended June 30, 2014: ¥1,246 mil. (-41.1%)(30.5)(86.5)(78.0)(89.2)

Three Months Ended
June 30, 2014
49,222
1,975
1,806
1,248

%
41.4
114.4
38.3
(20.4)

5.44—

B. Financial Position(Rounded down to a million yen)

As of June 30, 2015
Total Assets
Net Assets
Shareholders’ Equity to Total Assets Ratio (%)
Net Assets per Share (yen)Reference: Shareholders’ equity
As of June 30, 2015: ¥68,887 mil.
As of March 31, 2015: ¥69,372 mil.

212,73170,58732.4
304.96

As of March 31, 2015
204,138
71,06534.0
307.11

II. Dividends(Yen)

Dividend per ShareYear Ended March 31, 2015
Year Ending December 31, 2015
Year Ending December 31, 2015 (Forecast)End of 1Q——

End of 2Q—

End of 3Q—

Year-end
3.00

Annual
3.00

—

3.00

3.00

—
Note: Revision of the most recently announced dividend forecast: NoneIII. Forecast for the Fiscal Year Ending December 31, 2015 (April 1, 2015－December 31, 2015)(Rounded down to a million yen, % indicates changes from the previous same period)
Net Sales%

Operating
Income%Ordinary
Income%ProfitAttributableto Owners of
Parent%Profit per
Share
(yen)

78,000 (5.4)
1,800
71.7
1,700
14.4
900 (32.9)
3.98
152,000
—
3,900
—
3,700
—
2,100
—
9.30
Note: Revision of the most recently announced performance forecast: None
As the partial revision of the Articles of Incorporation was approved at the general meeting of shareholders heldon June 24, 2015, the fiscal year of the Company, currently from April 1 to March 31 of the following year,
was changed to the period from January 1 to December 31 effective as of fiscal 2015. As a transitional
treatment, subsidiaries which adopt a fiscal year starting April 1 and ending March 31 of the following year, thenine-month results (April 1, 2015 to December 31, 2015) will be included in the consolidated results for theyear ending December 31, 2015.
For subsidiaries which adopt a fiscal year starting January 1 and ending December 31, the twelve-monthresults (January 1, 2015 to December 31, 2015) will be included in the consolidated results, as in the past.
Because year-on-year comparisons are impossible, percentage changes year on year are left blank.
First Half
Full Year* Notes
A Changes in important subsidiaries during the period (change in specified subsidiaries which accompanies achange in the range of consolidation): None
B Adoption of unique accounting method for preparing the quarterly consolidated financial statements: None
C Change in accounting policy, change in accounting estimates and restatements
1) Change in accounting policy in response to revision of accounting standards: Yes
2) Change in accounting policy other than 1):
None3) Change in accounting estimates:
None4) Restatements:
None
Note: For details, please refer to “2. Matters Concerning Summary Information (Notes) (2) Change in
Accounting Policy, Change in Accounting Estimates and Restatements” on page 3 of the
supplementary material.
D Outstanding shares (common shares)
1) Outstanding shares (including treasury shares)
As of June 30, 2015
229,849,936 shares
As of March 31, 2015
229,849,936 shares
2) Outstanding treasury shares
As of June 30, 2015
3,961,537 shares
As of March 31, 2015
3,959,147 shares
3) Average number of shares during the period
Three months ended June 30, 2015
225,889,620 shares
Three months ended June 30, 2014
229,732,186 shares* Statement regarding the implementation of the quarterly review procedure
Although the summary of quarterly financial results is exempted from the quarterly review procedure required
under the Financial Instruments and Exchange Act, we have completed the review procedure of the financial
statements at the time of disclosure.
* Statement regarding the proper use of financial performance forecast and other notes
The forecast for operating results has been determined based on information presently available, as well as on
the assumptions that the Company believes to be reasonable. It is possible that in the future, actual results may
differ from the anticipated figures for a variety of reasons. Please refer to “1. Qualitative Information Regarding
Financial Results for the Period” on page 2 of the supplementary material for the assumptions underlying theforecast and precautions when using the forecast.

 Table of contents for supplementary material
1. Qualitative Information Regarding Financial Results for the Period .....................................................2(1) Explanation Regarding Business Performance .................................................................................2(2) Explanation Regarding Financial Position .......................................................................................2(3) Explanation Regarding Forward-looking Statements Including Consolidated
Performance Forecast .......................................................................................................................3
2. Matters Concerning Summary Information (Notes)...............................................................................3(1) Changes in Important Subsidiaries during the Period ......................................................................3(2) Change in Accounting Policy, Change in Accounting Estimates and Restatements ........................3
3. Consolidated Financial Statements.........................................................................................................4(1) Consolidated Balance Sheets ............................................................................................................4(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income .......6(3) Notes Regarding Consolidated Financial Statements .......................................................................8
Notes Regarding the Going Concern Assumption ............................................................................8
Notes Regarding Significant Changes in Shareholders’ Equity .......................................................8-1-

1. Qualitative Information Regarding Financial Results for the Period(1) Explanation Regarding Business Performance
During the three months ended June 30, 2015, the Japanese economy showed modest recovery in general, supportedby the favorable impact of the depreciating yen on companies engaged in export, and by a rise in the number offoreign tourists. On the other hand, some uncertainties remained in the world economy, with the possibility of the
U.S.pulling back quantitative monetary easing measures, and political instability in the European region, including
the financial crisis in Greece.
Under such circumstances, the ISEKI Group continued its efforts to increase sales volume in Japan, launching
new products and enhancing customer service, while it endeavored to expand sales overseas by introducing new
products in North America and Europe and by strengthening marketing in China and the ASEAN region. As a result,the Group’s business performance can be summarized as follows.
During the three months ended June 30, 2015, net sales decreased ¥15,008 million from the same period last yearto ¥34,214 million (down 30.5%). Domestic sales decreased ¥16,965 million to ¥26,516 million (down 39.0%)
mainly as a result of the decrease in sales of agricultural machinery and farming implements. This decrease wasaffected by the negative rebound experienced by our sales companies (which adopt December annual accountsettlement) in the period from January to March, which is usually a low demand period, in the wake of thelast-minute surge in demand before the rise in the consumption tax rate in the same period last year. Overseas sales
increased ¥1,957 million to ¥7,698 million (up 34.1%) mainly supported by strong orders from North America andEurope.
Operating income decreased ¥1,707 million from the same period last year to ¥267 million (down 86.5%) due tolower gross income resulting from decreased sales. Ordinary income decreased ¥1,409 million to ¥397 million(down 78.0%). Profit attributable to owners of parent decreased ¥1,114 million to ¥134 million (down 89.2%).
Sales by product are as follows.
[Domestic]
Sales of cultivating & mowing machinery (tractors, high-clearance multipurpose vehicles, etc.) were ¥7,259 million(down 37.3% from the same period last year), and sales of planting machinery (rice transplanters and vegetabletransplanters) were ¥2,623 million (down 26.5%). Sales of harvesting and processing machinery (combine harvesters,etc.) were ¥2,962 million (down 55.8%). Sales of spare parts and farming implements were ¥6,442 million (down
37.7%). Sales of other agriculture-related business (construction of facilities, etc.) were ¥7,228 million (down
35.9%).
[Overseas]
Sales of cultivating & mowing machinery (tractors, etc.) were ¥6,732 million (up 50.6% from the same period lastyear), and sales of planting machinery (rice transplanters, etc.) were ¥153 million (down 73.1%). Sales of harvestingand processing machinery (combine harvesters, etc.) were ¥126 million (up 24.0%). Sales of spare parts and farming
implements were ¥543 million (up 34.7%). Sales of other agriculture-related business were ¥143 million (down
25.7%).
(2) Explanation Regarding Financial Position
Total assets as of June 30, 2015 increased ¥8,593 million from March 31, 2015 to ¥212,731 million. Looking at the
breakdown, current assets increased ¥8,001 million and non-current assets increased ¥591 million. The changes
mainly resulted from a ¥1,559 million increase in cash and deposits, a ¥5,636 million increase in notes and accounts
receivable–trade, a ¥3,069 million increase in inventories, and a ¥2,212 million decrease in other under current
assets. Total liabilities increased ¥9,071 million from March 31, 2015 to ¥142,144 million. The change was primarily
due to a ¥2,257 million decrease in notes and accounts payable–trade and a ¥3,984 million increase in electronicallyrecorded obligations–operating, a ¥9,981 million increase in short-term and long-term loans payable, and a ¥2,646
million decrease in other under current liabilities. Net assets decreased ¥478 million from March 31, 2015 to¥70,587 million, mainly due to the recording of ¥134 million in profit attributable to owners of parent and ¥677
million in dividends of surplus.

-2-(3) Explanation Regarding Forward-looking Statements Including Consolidated Performance Forecast
Although sales overseas were strong, consolidated sales and profits for the three months ended June 30, 2015
decreased from the same period last year due to a decrease in sales in Japan. This was because sales by our sales
companies significantly increased last year linked to last-minute demand before the rise in the consumption tax rate.
In and after April 2015, sales by our sales companies in Japan recovered from the weak sales in the same period lastyear because demand for our products grew during this period.
Going forward, under the Iseki Group slogan “Supporting the full of dreams farming industry,” we will strive toexpand sales by implementing a 90th anniversary sales campaign and promotional activities. We will also addresschanges in the agriculture environment and strengthen our customer support capabilities, through providing
high-quality market information services and making proposals that match our customers’ agricultural business
management. In overseas markets, we will focus on expanding the sales of strategic products introduced in North
America, Europe, China and major markets in the ASEAN region. Sales expansion in overseas markets will be
driven by ISEKI France S.A.S, which became a subsidiary last year, Dongfeng Iseki Agricultural Machinery Co.,
Ltd., an affiliate accounted for by the equity method, and other overseas affiliates.
We reviewed the results of the first quarter (three months ended June 30, 2015) and the forecasts for the remainderof the year. As a result of this review, no revision was made to the consolidated performance forecasts for the firsthalf and the full year of this fiscal year announced with the annual financial results on May 14, 2015.
There is no revision to the exchange rate used for these forecasts, i.e., ¥115/U.S. dollar and ¥130/Euro.

2. Matters Concerning Summary Information (Notes)(1) Changes in Important Subsidiaries during the Period
Not applicable(2) Change in Accounting Policy, Change in Accounting Estimates and Restatements
Starting from April 1, 2015, the Company adopted the Revised Accounting Standard for Business Combinations(ASBJ Statement No. 21, September 13, 2013, hereinafter referred to as the “Accounting Standard for Business
Combinations”), the Revised Accounting Standard for Consolidated Financial Statements (ASBJ Statement No. 22,
September 13, 2013, hereinafter “Accounting Standard for Consolidated Financial Statements”), the Revised
Accounting Standard for Business Divestitures (ASBJ Statement No.7, September 13, 2013, hereinafter “AccountingStandard for Business Divestitures”) and other accounting standards. To comply with these standards, the Company
changed the accounting treatment to record the amount arising from a change in equity in subsidiaries accounted forusing the equity method as capital surplus where the Company has been continuously the controlling entity, and torecord the costs associated with such acquisition as expenses for the year in which the acquisition was made. For all
the business combinations that will be implemented from April 1, 2015, the method to allocate acquisition costs haschanged; i.e., allocation of acquisition costs determined based on a provisional accounting treatment will be
reviewed and reflected in the consolidated financial statements for the quarter in which the business combination
was implemented. In addition, the presentation of net income and other related items was changed. The item
previously presented as minority interests was also changed, to non-controlling interests. In order to reflect thesechanges with regard to the three months of the previous fiscal year and the full previous fiscal year, the consolidated
financial statements have been restated.
From April 1, 2015, the Company conformed with the transitional treatments stipulated in Article 58-2 (4) of the
Accounting Standard for Business Combinations, Article 44-5 (4) of the Accounting Standard for Consolidated
Financial Statements and Article 57-4 (4) in the Accounting Standard for Business Divestitures to evetually fully
adopt the Accounting Standard for Business Combinations. The financial statements for the first quarter of fiscal
2015 were not affected by any of these changes.

-3-3. Consolidated Financial Statements(1) Consolidated Balance Sheets
FY ended
March 31, 2015(as of Mar. 31, 2015)(Millions of yen)
1Q of FY ending
December 31, 2015(as of Jun. 30, 2015)

AssetsCurrent assets
Cash and deposits

6,603

8,162

Notes and accounts receivable-trade30,40436,040

Merchandise and finished goods

42,554

43,843Work in process

3,679

5,748

Raw materials and supplies

1,478

1,190

Other

7,222

5,010

(91)

(142)

91,851

99,852

Buildings and structures, net

20,224

20,363

Land

50,39550,602Other, net

22,372

22,617

Total property, plant and equipment

92,992

93,584

1,105

1,104

Investment securities

9,495

9,597

Other

9,129

8,941

Allowance for doubtful accounts

(436)

(348)

Total investments and other assets

18,18918,190112,287

112,879

204,138

212,731

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Intangible assets
Investments and other assets

Total non-current assets
Total assets-4-

FY ended
March 31, 2015(as of Mar. 31, 2015)(Millions of yen)
1Q of FY ending
December 31, 2015(as of Jun. 30, 2015)

Liabilities
Current liabilities
Notes and accounts payable-trade36,93534,678

Electronically recorded obligations-operating
Short-term loans payable

1,778
25,134

5,763
35,133Current portion of long-term loans payable

13,941

14,233

Income taxes payable

776

293

Provision for bonuses

322

1,169

Other

13,79911,152

Total current liabilities

92,689102,424

Non-current liabilities
Long-term loans payable

18,52018,211

Deferred tax liabilities for land revaluation

6,074

6,074

Provision for directors’ retirement benefits

125

111

Net defined benefit liability

5,298

5,065

Asset retirement obligations
Other

266
10,097267
9,988

Total non-current liabilities
Total liabilities

40,383133,073

39,719142,144

Capital stock
Capital surplus

23,344
13,454

23,344
13,454Retained earnings

15,658

15,115

Treasury shares

(986)

(987)

51,47050,926

2,979
12,401

3,189
12,401

Foreign currency translation adjustment

1,771

1,625

Remeasurements of defined benefit plans

750

744

17,902

17,961

Net assets
Shareholders’ equity

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land

Total accumulated other comprehensive income
Subscription rights to shares

68

91

Non-controlling interests

1,624

1,608

Total net assets

71,06570,587204,138

212,731

Total liabilities and net assets-5-(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income
For the Three Months Ended June 30, 2014 and 2015
(Millions of yen)
1Q of FY ending
December 31, 2015
(Apr. 1, 2015Jun. 30, 2015)

1Q of FY ended
March 31, 2015
(Apr. 1, 2014Jun. 30, 2014)
Net sales

49,222

34,214

Cost of sales

35,89822,811Gross profit

13,324

11,403

Selling, general and administrative expenses

11,349

11,136

Operating income

1,975

267

Interest income

52

34

Dividend income

81

125

Foreign exchange gains

—

156

Other

223

192

Total non-operating income

358

509

Interest expenses

186

200

Share of loss of entities accounted for using equity method

58

82

Foreign exchange losses

179

—

Other

102

95

Total non-operating expenses

526

379

1,806

397

7

11

Gain on change in equity

589—

Compensation income

66Gain on sales of investment securities—

213

Total extraordinary income

603

232

Loss on sales and retirement of non-current assets

39

37

Other

7

—

Total extraordinary losses

47

37

Income before income taxes

2,363

591

Income taxes-current

1,343

239

Income taxes-deferred

(257)

236

Total income taxes

1,086

475

Profit

1,276

116

28

(17)

1,248

134

Non-operating income

Non-operating expenses

Ordinary income
Extraordinary income
Gain on sales of non-current assets

Extraordinary losses

Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent-6-

Consolidated Statements of Comprehensive Income
For the Three Months Ended June 30, 2014 and 2015
(Millions of yen)
1Q of FY ending
December 31, 2015
(Apr. 1, 2015Jun. 30, 2015)

1Q of FY ended
March 31, 2015
(Apr. 1, 2014Jun. 30, 2014)
Profit1,276

116

Valuation difference on available-for-sale securities

156

211

Foreign currency translation adjustment

(425)

(150)

Remeasurements of defined benefit plans, net of tax

263

(5)

for using equity method

(25)

5

Total other comprehensive income

(30)

60

1,246

177

1,218

193

27

(16)

Other comprehensive income

Share of other comprehensive income of entities accounted

Comprehensive income(Comprehensive income attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests-7-

(3) Notes Regarding Consolidated Financial Statements
Notes Regarding the Going Concern Assumption
Not applicable
Notes Regarding Significant Changes in Shareholders’ Equity
Not applicable-8-