February 2, 2009

Third-Quarter Consolidated Earnings Report for Fiscal 2009, Ending March 31, 2009This report is an English translation of the Third-Quarter Consolidated Earnings Report (Japanese) that was released in Japanon February 2, 2009.

Company name: Ryobi Limited
http://www.ryobi-group.co.jp
Stock listing: First Section, Tokyo Stock Exchange
Securities code: 5851
Representative: Susumu Yoshikawa, President and COO
Inquiries: Takao Tanaka, Director and Executive Corporate Officer, Finance Department
Tel: +81-3-3501-0511
Scheduled filing date of quarterly earnings report: February 10, 2009
(Millions of yen rounded down)
1. Consolidated Operating Results for the Third Quarter of Fiscal 2009
(April 1, 2008 to December 31, 2008)(1) Consolidated Operating Results (Cumulative)(% figures represent year-on-year increase or decrease)
Net Sales

Operating Income

Ordinary Income

Net Income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Third Quarter Fiscal 2009

146,565

―

2,782

―

2,435

―

732

―

Third Quarter Fiscal 2008

161,762

7.0

10,515-11.1

10,457

-14.2

6,070

-22.7

Net Income
per Share

Net Income per
Share after Dilution
Yen

Yen

Third Quarter Fiscal 2009

4.41

—

Third Quarter Fiscal 2008

36.25

—

(2) Consolidated Financial Position
Total Assets

Shareholders’Equity Ratio

Net Assets

Net Assets
per Share

Millions of yen

Millions of yen

December 31, 2008

193,479

71,35036.4

431.27

March 31, 2008

195,971

77,71839.2

460.79Dec. 31, 2008:
Mar. 31, 2008:

70,517 million yen
76,844 million yen(Reference)
Shareholders’ equity:

Yen%

2. Dividends
Dividends per Share
(Record Date)

Jun. 30

Sept. 30

Dec. 31Mar. 31Annual

Yen

Yen

Yen

Yen

Yen

Fiscal 2008

—

6.00

—

6.00

12.00

Fiscal 2009

—

6.00

—
0.00

6.00

Fiscal 2009 (Forecast)

Note: Revision to dividend forecast in the third quarter of the fiscal year ending March 31, 2009: Yes-1-

3. Forecasts of Consolidated Operating Results for the Fiscal Year Ending March 31, 2009 (April 1,2008 to March 31, 2009)(% figures represent year-on-year increase or decrease)
Operating
Net Income
Net Sales
Ordinary Income
Net Income
Incomeper Share
Full Fiscal Year

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

176,000

-18.6

900

-93.7

200

-98.6

0

-100.00.00

Note: Revisions to consolidated operating forecasts in the third quarter of the fiscal year ending March 31,
2009: Yes

4. Other(1) Changes in Important Subsidiaries during the Period (Changes in Special Subsidiaries
Involving Changes in the Scope of Consolidation):No(2) Application of the Simplified Accounting Method and Special Accounting Practices in the
Preparation of Quarterly Consolidated Financial Statements:
Yes
Note: Please refer to 4. Other under “Qualitative Information / Financial Statements and Other” onpage 6 for details.
(3) Changes in Accounting Principles, Procedures and Presentation Methods in Connection with
the Preparation of Quarterly Consolidated Financial Statements
a. Changes accompanying revisions to accounting standards: Yes
b. Changes in items other than a. above: Yes
Note: Please refer to 4. Other under “Qualitative Information / Financial Statements and Other” onpage 6 for details.
(4) Number of Shares Issued and Outstanding (Common Stock)a. Total number of shares issued and outstanding (including treasury stock) as of theperiod-end:
Dec. 31, 2008 171,230,715 sharesMar. 31, 2008 171,230,715 sharesb. Total number of treasury stock as of the period-end:
Dec. 31, 2008 7,719,707 sharesMar. 31, 2008 4,462,347 sharesc.

Average number of shares for the period (Cumulative total for the quarterly consolidated
period)Third quarter fiscal 2009 166,127,324 shares
Third quarter fiscal 2008 167,438,064 shares

Cautionary Statement Concerning Operating Results Forecasts and Other Special Items[Regarding the use of operating results forecasts]
1. Operating results forecasts for the full fiscal year have been revised since these were announced inJapanese on October 10, 2008. Please refer to “Qualitative Information / Financial Statements andOther,” on page 3, 3. “Qualitative Information Concerning Forecasts of Consolidated Operating
Results for the Fiscal Year Ending March 31, 2009” on page 5 and the “Announcement Concerning
Revisions to the Results Forecasts” announced (in Japanese only) on February 2, 2009 for details.
In addition, the aforementioned forecasts were made based on information available to management asof the date of this report. Actual results could differ significantly from forecasts due to a variety offactors.

-2-

2. Effective from the fiscal year ending March 31, 2009, the Ryobi Group has applied the AccountingStandard for Quarterly Financial Reporting Statement No. 12 issued by the Accounting Standards
Board of Japan (ASBJ) on March 14, 2007 and the Guidance on Accounting Standard for Quarterly
Financial Reporting Guidance No. 14 issued by the ASBJ on March 14, 2007. Furthermore, quarterly
consolidated financial statements have been prepared in accordance with the Regulation for Quarterly
Consolidated Financial Reporting.

[Qualitative Information / Financial Statements and Other]
1. Qualitative Information Concerning Consolidated Operating Results for the Third
Quarter of Fiscal 2009
During the first three quarters of fiscal 2009 (April 1, 2008 to December 31, 2008), the Japanese
economy witnessed a decline in consumer spending, a significant reduction in production, a contractionof capital investment and cutbacks in personnel, negatively affected by global economic uncertainties
and recession and the sole and sharp appreciation of the yen, all of which were triggered by thebankruptcy of a major U.S. securities company. At the same time, the prices of crude oil and othernatural resources showed violent fluctuations, while the stock prices of Japanese corporations
demonstrated a general decline. Having started in the United States and Europe, the recession has
spread to China and other emerging nations, along with resource-producing countries, worldwide.
In such an operating environment, Ryobi Limited and its significant subsidiaries (“the Ryobi Group”)
have, together with promoting aggressive sales activities, implemented various measures that include
the development of new products responsive to users’ needs, reduction of costs and expenses, andenhancement of operational efficiency. Although the Ryobi Group’s performance for the first half ofthe fiscal year was relatively steady, net sales decreased significantly for the third quarter under review
due to the rapid worsening of operating conditions and the further appreciation of the yen. This,
coupled with increased depreciation expenses and other negative factors, resulted in a decline inrevenue and a nosedive in earnings for the first three quarters under review compared with thecorresponding period of the previous fiscal year.
(Millions of yen rounded down)First Three Quarters
Fiscal 2008
Change% of
Net SalesFirst Three Quarters
Fiscal 2009
% of
Net Sales
Net Sales

146,565—

161,762—-15,197-9.4%

Operating Income

2,782

1.9

10,515

6.5-7,733-73.5%

Ordinary Income

2,435

1.7

10,457

6.5-8,021-76.7%

732

0.5

6,070

3.8

-5,337-87.9%Net Income

Examining performance by industry segment, revenue in the Die Castings Business decreased year on
year, adversely affected by large-scale production cutbacks implemented by Japanese and U.S.
automobile manufacturers, the segment’s primary customers. This decrease in sales, together withincreased depreciation expenses, resulted in a significant decline in earnings. Both revenue andearnings in the Printing Equipment Business decreased year on year, owing to a substantial drop in
domestic and overseas orders, and this is attributable to weak capital investment in the stagnant
printing industry and the yen’s appreciation. Similarly, revenue and earnings in the Power Tools andBuilders’ Hardware Business showed a year-on-year decrease due to shrinking housing starts in Japan,
sluggish consumer spending and severe sales competition.

-3-

(1) Net Sales by Industry Segment
First Three Quarters
Fiscal 2009
% ofConsolidated
Net Sales(Millions of yen rounded down)First Three Quarters
Fiscal 2008
Change% ofConsolidated
Net Sales

Die Castings

103,67770.7

110,06468.0-6,387-5.8%

Printing Equipment

23,612

16.1

31,05519.2-7,442-24.0%

Power Tools andBuilders’ Hardware

19,27413.2

20,64212.8-1,367

-6.6%

Total

146,565

100.0

161,762100.0-15,197-9.4%(2) Operating Income by Industry Segment
First Three Quarters
Fiscal 2009
% ofSegment Net
Sales(Millions of yen rounded down)First Three Quarters
Fiscal 2008
Change% ofSegment Net
Sales

1,434

1.4

5,118

4.7

-3,683-72.0%

Printing Equipment

711

3.0

4,022

13.0

-3,311-82.3%

Power Tools andBuilders’ Hardware

642

3.3

1,375

6.7

-733

-53.3%

2,782

1.9

10,515

6.5-7,733-73.5%Die Castings

Total

Moreover, because the Ryobi Group has applied the Regulation for Quarterly Consolidated Financing
Reporting effective from the fiscal year ending March 31, 2009, comparisons with the corresponding
period of the previous fiscal year and the rate of increase and decrease have been included as
references.

2. Qualitative Information Concerning Consolidated Financial Position for the End of
the Third Quarter of Fiscal 2009
Total assets as of December 31, 2008 stood at ¥193,479 million, a decrease of ¥2,492 million comparedwith the end of the previous fiscal year. This was due to a reduction in current assets such as notes andaccounts receivable and finished products and purchased goods, as well as an increase in fixed assets
such as property, plant and equipment.
Liabilities increased ¥3,876 million to ¥122,129 million primarily due to an increase in short-termborrowings and long-term debt. Interest-bearing debt, excluding discounted notes receivable and leaseobligations, increased ¥9,620 million to ¥54,777 million compared with the end of the previous fiscal
year.
Net Assets dropped ¥6,368 million from the end of the previous term to ¥71,350 million. Contributing
factors include a declared increase of ¥732 million in quarterly net income and dividend payments of¥2,001 million. Also included is a decline in line with past goodwill adjustments as a result of unified
accounting procedures for subsidiaries outside Japan. Shareholders’ equity, subtracting minority
interests from net assets, amounted to ¥70,517 million and shareholders’ equity ratio stood at 36.4%.

-4-

End of Third Quarter
Fiscal 2009
% ofTotal Assets(Millions of yen rounded down)
End of Third Quarter
Fiscal 2008
Change% ofTotal Assets

Total Assets

193,479—

195,971—-2,492-1.3%

Shareholders’ Equity

70,51736.4

76,84439.2-6,327-8.2%

Interest-Bearing Debt

54,77728.3

45,157

23.0

9,620

21.3%

(Cash Flows)
For the three quarters under review, net cash provided by operating activities totaled ¥14,857 million,
an increase of ¥12,840 million compared with the corresponding period of the previous fiscal year. The
increase was primarily attributable to a decrease in notes and accounts receivable and a decrease in thepayment of income taxes.
Net cash used in investing activities amounted to ¥14,951 million. A major component was thepayment for purchases of property, plant and equipment.
As a result of the above, free cash flows—the sum of cash flows from operating activities and investing
activities—amounted to a negative ¥94 million.
Net cash provided by financing activities totaled ¥7,330 million, attributable to an increase in
short-term borrowings, net and proceeds from long-term debt.
As a result, cash and cash equivalents at the end of the period increased ¥7,072 million from the end of
the previous fiscal year to ¥17,211 million.
First Three Quarters
Fiscal 2009
Cash Flows fromOperating Activities
Cash Flows from
Investing Activities
Free Cash Flows(Millions of yen rounded down)First Three Quarters
ChangeFiscal 2008

14,857

2,016

12,840-14,951-12,772-2,179-94-10,756

10,661

3. Qualitative Information Concerning Forecasts of Consolidated Operating Results for
the Fiscal Year Ending March 31, 2009
The Ryobi Group previously revised operating results forecasts for the fiscal year ending March 31,
2009, which were announced in Japanese on October 10, 2008. In this report, the Ryobi Group
downwardly revised its net sales and income forecasts for the fiscal year again.
The global economy is rapidly and dramatically decelerating with no bottom on the horizon. Stagnationin the automobile market is expected to continue for the time being. Based on this expectation, theRyobi Group has serious concerns about the outlook for the Die Castings Business, which may besignificantly impacted even more by production cutbacks by Japanese and U.S. automobile
manufacturers. Also, the Printing Equipment Business is showing no signs of performance recovery:
the segment’s exports to Europe, the United States and Asia are being negatively affected by restrained
capital investment in the printing industry worldwide and the appreciation of the yen. Factoring in the
aforementioned, the Ryobi Group forecasts that it will experience substantial downgrading in revenue
and earnings for the full year compared with the previous fiscal year.

-5-Despite these severe operating conditions, the Ryobi Group is aiming to improve results by focusing onsuch initiatives as expanding sales, reducing costs, improving productivity and further enhancing
operational efficiency.
(Millions of yen rounded down)

Net Sales

Full-Year Fiscal 2009

Full-Year Fiscal 2008

% of
Net Sales% of
Net Sales

Change176,000—

216,180—-40,180-18.6%

Operating Income

900

0.5

14,235

6.6-13,335-93.7%

Ordinary Income

200

0.1

13,876

6.4-13,676-98.6%

0

0.0

8,207

3.8

-8,207-100.0%Net Income

4. Other(1) Changes in Important Subsidiaries during the Period (Changes in Special Subsidiaries
Involving Changes in the Scope of Consolidation):
None(2) Application of the Simplified Accounting Method and Special Accounting Practices in the
Preparation of Quarterly Consolidated Financial Statements:(Simplified Accounting Method)a. Calculation method for estimating future credit write-offs of normal receivables
Recognizing that no significant changes have arisen with regard to the estimated bad debt
write-off ratios at the end of the previous fiscal year, the actual bad debt write-off ratio as ofMarch 31, 2008 has been used to calculate estimated future credit write-offs of normal
receivables.
b. Measurement method for inventories
The amount of inventories as of December 31, 2008 has been calculated using a reasonably
acceptable manner, without physical inventory checking and based on the amount of physicalinventory as of March 31, 2008.
c. Calculation method for depreciation and amortization of fixed assets
With respect to fixed assets that adopt the declining-balance method as a method for
determining depreciation, the amount of depreciation and amortization for the fiscal year
ending March 31 2009 is divided proportionally.
(Special Accounting Practices in the Preparation of Quarterly Consolidated Financial Statements)
Tax expenses are calculated by reasonably estimating the effective tax rate after the application of
tax accounting on income before income taxes and minority interests in the consolidated fiscal year,
including the third quarter of the fiscal year ending March 31, 2009, and multiplying income
before income taxes and minority interests for the third quarter of the fiscal year ending March 31,
2009 by said estimated effective tax rate. The adjusted amount for income tax is shown to include
income taxes.

-6-(3) Changes in Accounting Principles, Procedures and Presentation Methods in Connection with
the Preparation of Quarterly Consolidated Financial Statements:(Changes Accompanying Revisions to Accounting Standards)
a. Effective from the fiscal year ending March 31, 2009, the Ryobi Group has applied the
Accounting Standard for Quarterly Financial Reporting Statement No. 12 issued by the
Accounting Standards Board of Japan (ASBJ) on March 14, 2007, as well as the Guidance on
Accounting Standard for Quarterly Financial Reporting Guidance No. 14 issued by the ASBJ
on March 14, 2007. Furthermore, quarterly consolidated financial statements have been
prepared in accordance with the Regulation for Quarterly Consolidated Financial Reporting.
b. Measurement standard and method for inventories
In connection with inventories held for sale in the ordinary course of business, the Ryobi
Group had mainly adopted the average method. Effective from the first quarter of the fiscal
year ending March 31, 2009, the Ryobi Group has adopted ASBJ Statement No. 9“Accounting Standard for the Measurement of Inventories.” As a result, inventories are inprinciple stated at cost, cost being determined by the average method (with book values
written down due to decreased profitability of balance sheet inventories held for sale in theordinary course of business).
Taking into consideration this change in accounting standards on consolidated cumulative
totals during the first three quarters of the fiscal year ending March 31, 2009, operating
income, ordinary income, and income before income taxes and minority interests eachdeclined by ¥216 million.
c.

Practical solution on unification of accounting standards applied to foreign subsidiaries forconsolidated financial statements
From a consolidated account settlement perspective, the Ryobi Group has undertaken all
essential adjustments following adoption of the Practical Issues Task Force No. 18 “Practical
Solution on Unification of Accounting Policies Applied to Foreign Subsidiaries for
Consolidated Financial Statements” issued by the ASBJ on May 17, 2006 from the firstquarter of the fiscal year ending March 31, 2009.
Regarding the consolidated balance sheet for the quarter, taking into consideration this changein accounting standards, retained earnings decreased ¥785 million, but only had a slight
impact on consolidated operating income, ordinary income, and income before income taxes
and minority interests during the first three quarters of the fiscal year ending March 31, 2009.

d. Application of accounting standards for lease transactions
From the first quarter of the fiscal year ending March 31, 2009, the Ryobi Group adopted the“Accounting Standard for Lease Transactions” (ASBJ Statement No. 13 issued on June 17,1993 and last revised on March 30, 2007) and the “Guidance on Accounting Standard forLease Transactions” (ASBJ Guidance No. 16 issued on January 18, 1994 and last revised on
March 30, 2007). Accordingly, the method of accounting for finance leases that do not transfer
ownership changed from treating such leases as rental transactions to treatment assale/purchase transactions, recognizing them as lease assets. Depreciation equivalent iscomputed on a straight-line method over the lease period without residual value.
Based on this change in accounting standards on consolidated cumulative totals during thefirst three quarters of the fiscal year ending March 31, 2009, operating income and ordinary
income, each increased by ¥49 million and ¥19 million respectively, while income before
income taxes and minority interests decreased by ¥86 million.

-7-

e.

Changes in the classification of die casting dies
Applying unified accounting procedures to subsidiaries outside Japan for the presentation ofquarterly consolidated financial statements in the first quarter of the fiscal year ending March
31, 2009, we revised the classification of Ryobi Limited and its subsidiaries’ die casting dies,
redistributing a portion of die casting dies from inventories to fixed assets.
This change in this accounting standard had no affect on operating income, ordinary income,and income before income taxes and minority interests during the first three quarters of the
fiscal year ending March 31, 2009. Based on the consolidated balance sheets for the third
quarter of the current fiscal year, finished products and purchased goods decreased ¥2,962
million at the beginning of the fiscal year, while other fixed assets in property, plant andequipment increased the same amount. Work in process decreased ¥3,055 million, whileconstruction in progress increased the same amount.

(Additional Information)
As a result of reviewing its use of assets and other factors in the wake of revisions to the
Corporate Tax Law, the Ryobi Group and its domestic subsidiaries have changed the useful life ofmachinery and equipment from 4 to 13 years to 4 to 12 years beginning from the first quarter ofthe fiscal year ending March 31, 2009.
Taking into consideration this change in accounting standards, operating income fell ¥668 million,
while ordinary income and income before income taxes and minority interests each decreased¥748 million respectively during the first three quarters of the fiscal year ending March 31, 2009.

-8-

5. Consolidated Financial Statements for the First Three Quarters of the Fiscal YearEnding March 31, 2009
(1) Consolidated Balance Sheets as of the End of the Third Quarter
December 31, 2008ASSETS
Current assets:
Cash and cash equivalents
Notes and accounts receivable
Marketable securities
Finished products and purchased goods
Work in process
Raw materials and supplies
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets:
Property, plant and equipment:
Buildings and structures (net)
Machinery and equipment (net)Land
Construction in progress
Other fixed assets (net)Total property, plant and equipment
Intangible fixed assets:
Goodwill
Other intangible fixed assets
Total intangible fixed assets
Investments and other assets:
Investment in securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets-9-(Millions of yen)March 31, 2008

14,07036,312
6,217
15,687
10,043
9,681
7,062
(45)
99,0298,925
43,292
3,514
19,991
14,312
7,552
4,644
(61)
102,171

19,25825,94921,6488,398
6,602
81,85820,791
29,411
21,6992,621
2,639
77,163

100
1,254
1,354

946
1,308
2,254

7,379
3,975
(117)
11,237
94,450
193,479

10,6493,776(43)
14,38293,800195,971

December 31, 2008
LIABILITIESCurrent liabilities:
Notes and accounts payable
Short-term borrowings
Current portion of long-term debt
Income taxes payable
Accrued bonuses
Other current liabilities
Total current liabilities
Long-term liabilities:
Long-term debt
Accrued severance indemnities
Other long-term liabilities
Total long-term liabilities
Total liabilities:
NET ASSETS
Shareholders’ equity:
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Valuation and translation adjustments:
Unrealized gain on available-for-salesecurities
Deferred loss on derivatives under hedge
accounting
Land revaluation reserve
Foreign currency translation adjustments
Total valuation and translation adjustments
Minority interests
Total net assets
Total liabilities and net assets- 10 -(Millions of yen)March 31, 2008

41,501
29,948
7,103
109
703
13,60092,966

43,57021,490
6,002
2,049
2,192
13,76089,066

17,725
6,479
4,957
29,162
122,129

17,6636,320
5,202
29,186
118,252

18,472
23,75037,180(2,086)77,316

18,472
23,75039,234(1,425)80,031

1,287

3,094

(41)

(40)

626
(8,671)(6,799)833
71,350
193,479626(6,867)(3,187)874
77,718
195,971(2) Consolidated Statements of Income for the First Three Quarters

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Rental income
Gain on sales scrap
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Cash discounts
Exchange losses
Depreciation expenses
Miscellaneous expenses
Total non-operating expenses
Ordinary income
Extraordinary income
Gains on sale of fixed assets
Gains on sale of golf course membership
Total extraordinary income
Extraordinary losses
Loss on sale or disposal of fixed assets
Loss on revaluation of investment in securities
Cumulative effect of lease accounting standards application
Total extraordinary losses
Income before income taxes and minority interests
Income taxes
Gains on minority interests
Net income for the period- 11 -(Millions of yen)First Three Quarters of the Fiscal
Year Ending March 31, 2009
146,565
125,81320,751
17,969
2,782
40
170
451
119
501
1,283
831
125
178
338
155
1,630
2,435
40
1
41
150
326
106
583
1,894
1,154
7
732

(3) Consolidated Statements of Cash Flows for the First Three Quarters(Millions of yen)First Three Quarters of the
Fiscal Year Ending March 31,
2009
Cash flows from operating activities:
Income before income taxes and minority interests
Depreciation and amortization
Increase in allowance for doubtful accounts
Decrease in reserve for bonuses
Increase in accrued severance indemnities
Interest and dividends income
Interest expenses
Loss on revaluation of investment in securities
Loss on sale or disposal of fixed assets
Decrease in notes and accounts receivable
Decrease in inventories
Decrease in other current assets
Decrease in notes and accounts payable
Other increases in current liabilities
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by operating activities
Cash flows from investing activities:
Payment for purchases of property, plant and equipment
Proceeds from sale of property, plant and equipment
Payment for purchases of marketable securities
Proceeds from sale of marketable securities
Payment for purchase of investment in securities
Payment for time deposits
Proceeds from repayment of time deposit
Other
Net cash used in investing activities
Cash flows from financing activities:
Increase in short-term borrowings, net
Proceeds from long-term debt
Repayment of long-term debt
Acquisition of treasury stock
Proceeds from sale of treasury stock
Cash dividends paid
Cash dividends paid to minority shareholders
Other
Net cash provided by financing activities
Foreign currency translation adjustments on cash and cash
equivalents
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of the period- 12 -

1,894
11,25357(1,488)
159
(210)
831
326
110
6,493
32
254
(1,471)
1,802(86)
19,960213(805)(4,511)
14,857(13,992)
77
(690)
690
(88)
(1,608)832(171)(14,951)
8,858
5,896
(4,426)(661)
0(2,001)
(0)
(334)
7,330
(162)
7,072
10,13817,211Effective from the fiscal year ending March 31, 2009, the Ryobi Group has applied the AccountingStandard for Quarterly Financial Reporting “(Statement No. 12 issued by the Accounting Standards
Board of Japan (ASBJ)) on March 14, 2007 and the Guidance on Accounting Standard for Quarterly
Financial Reporting “(Guidance No. 14 issued by the ASBJ) on March 14, 2007. Furthermore, quarterly
consolidated financial statements have been prepared in accordance with the Regulation for Quarterly
Consolidated Financial Reporting.

(4) Notes Regarding Going Concern Assumptions
None.
(5) Segment Information[Industry Segment Information]
For the First Three Quarters of the Fiscal Year Ending March 31, 2009 (April 1, 2008 to
December 31, 2008)(Millions of yen)
Die
Castings

Printing
Equipment

Power Tools
and Builders’Hardware

Total

Sales:(1) UnaffiliatedCustomers(2) Intersegment

103,677

23,612

19,274

118

―

Total

103,796
1,434

Operating Income

Notes:
1.
2.

Eliminations

Consolidated

146,565―

146,565

0

119

(119)

―

23,612

19,275

146,684(119)

146,565

711

642

2,787

(5)

2,782

Industry segments are classified on the basis of organization.
Main products of each industry segment:
Die Castings: die cast product and aluminum cast
Printing Equipment: offset printing presses, peripherals, etc.
Power Tools and Builders’ Hardware: power tools, lawn and garden equipment, door closers,
hinges and architectural hardware[Geographical Segment Information]
For the First Three Quarters of the Fiscal Year Ending March 31, 2009 (April 1, 2008 to
December 31, 2008)(Millions of yen)
Japan

The
Americas

Sales:(1) UnaffiliatedCustomers(2) Intersegment

122,909

17,437

6,217

146,565―

146,565

2,077

―

5,378

7,456

(7,456)―

Total

124,987

17,437

11,596

154,021(7,456)

146,565

3,053

40

(233)

2,859

(77)

2,782

Operating Income(Loss)

Other

Total

Eliminations

Notes:
1. Country and regional segments are classified on the basis of geographic proximity.
2. Principal countries and regions:(1) The Americas: United States, Mexico(2) Other: United Kingdom, China- 13 -

Consolidated

[Overseas Sales]
For the First Three Quarters of the Fiscal Year Ending March 31, 2009 (April 1, 2008 to
December 31, 2008)(Millions of yen)
The Americas
Overseas Sales

Europe22,569Other

13,725

Total

6,608

146,565

Consolidated Net Sales
Ratio of Overseas Sales toConsolidated Net Sales (%)

42,903

15.4

9.4

4.5

29.3

Notes:
1. Country and regional segments are classified on the basis of geographic proximity.
2. Principal countries and regions:(1) The Americas: United States, Mexico, other(2) Europe: United Kingdom, Germany, other(3) Other: China, Australia, other
3. Overseas sales represent total sales outside Japan of the parent company and its consolidated
subsidiaries (excluding intra-group sales).
(6) Notes Regarding Substantial Changes in Shareholders’ Equity
None.

- 14 -

[Reference Material]
Financial Statements for the First Three Quarters of the Fiscal Year Ended March 31,
2008(1) Summary of Consolidated Statements of Income for the First Three Quarters

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Non-operating expenses
Ordinary income
Extraordinary income
Extraordinary losses
Income before income taxes and minority interests
Income taxes
Gains on minority interests
Net income for the period- 15 -First Three Quarters of the Fiscal
Year Ended March 31, 2008
Amount%(Millions of yen)
161,762100.0
132,805
82.1
28,95617.9
18,441
11.4
10,515
6.5
1,292
0.8
1,350
0.8
10,457
6.5
17
0.0
182
0.1
10,291
6.4
4,213
2.6
8
0.0
6,070
3.8

(2) Summary of Consolidated Statements of Cash Flows for the First Three Quarters(Millions of yen)First Three Quarters of the Fiscal
Year Ended March 31, 2008
Cash flows from operating activities:
Income before income taxes and minority interests
Depreciation and amortization
Increase in notes and accounts receivable
Increase in inventories
Increase in notes and accounts payable
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by operating activities
Cash flows from investing activities:
Payment for purchase of property, plant and equipment
Other
Net cash used in investing activities
Cash flows from financing activities:
Increase in short-term borrowings, net
Proceeds from long-term debt
Repayment of long-term debt
Cash dividends paid
Other
Net cash provided by financing activities
Foreign currency translation adjustments on cash and cash equivalents
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of the period- 16 -

10,2917,660(1,002)(4,185)
1,182(3,049)10,897262(832)(8,310)2,016(12,030)(741)(12,772)
3,513
9,600
(3,712)(3,016)
(694)
5,690
3
(5,061)
17,611
12,550(3) Segment Information[Industry Segment Information]
For the First Three Quarters of the Fiscal Year Ended March 31, 2008 (April 1, 2007 to December
31, 2007)(Millions of yen)
Die
Castings

Printing
Equipment

Power Tools
and Builders’HardwareSales:(1) UnaffiliatedCustomers(2) Intersegment

110,064

31,055

20,642

153

―

Total

110,218

Operating Costs andExpenses
Operating Income

Notes:
1.
2.

Total

Eliminations

Consolidated

161,762―

161,762

1

154

(154)

―

31,055

20,643

161,917(154)

161,762

105,100

27,033

19,268151,401(154)

151,246

5,118

4,022

1,375

10,5150

10,515

Industry segments are classified on the basis of organization.
Main products of each industry segment:
Die Castings: die cast product and aluminum cast
Printing Equipment: offset printing presses, peripherals, etc.
Power Tools and Builders’ Hardware: power tools, lawn and garden equipment, door closers,
hinges and architectural hardware- 17 -