Consolidated Financial Results
for the First Nine Months of the Fiscal Year Ending March 31, 2013
[J-GAAP]
February 7, 2013

Company Name:
Dai Nippon Printing Co., Ltd.
Stock exchange listings:
Tokyo
Stock code:
7912
URL: http://www.dnp.co.jp/
Representative:
Yoshitoshi Kitajima, President
Contact person:
Yoshio Kanbe, General Manager, Press and Public Relations
Telephone:+81-3-5225-8220
Securities report issuing date:February 13, 2013
Dividend payment date:–Preparation of quarterly earnings presentation material: No
Holding of quarterly earnings announcement:
No(Amounts under one million yen have been rounded down.)
1. Consolidated financial results for the first nine months ended December 31, 2012
(April 1, 2012 – December 31, 2012)(1) Consolidated financial results(Percentages show change from corresponding year-ago period.)
Net Sales

Nine months ended
December 31, 2012
Nine months ended
December 31, 2011

Operating Income

Ordinary Income

Million yen%

Million yen%

Million yen%

1,088,291(4.2)

24,484

7.0

28,73710.6

1,135,977(5.4)

22,887(58.5)

25,991(52.5)

Note: Comprehensive income (loss):
For the first nine months ended December 31, 2012: ¥12,861 million (–%)
For the first nine months ended December 31, 2011: ¥(7,480) million (–%)
Net Income

Nine months ended
December 31, 2012
Nine months ended
December 31, 2011

Diluted Net Income
per Share

Net Income per Share

Million yen

%

Yen

Yen

9,896

143.4

15.37

15.33

4,066

(84.3)

6.31

6.30(2) Consolidated financial position
Total Assets

Net Assets

Equity Ratio

Million yen

Million yen%

As of December 31, 2012

1,539,752

908,32256.1

As of March 31, 2012

1,608,806

914,21354.2

Note: Stockholders’ equity: As of December 31, 2012: ¥864,222 million

As of March 31, 2012: ¥871,229 million

2. Dividends
Annual Dividends (Yen)First
Quarter-end

Year ended
March 31, 2012
Year ending
March 31, 2013

SecondQuarter-end

Third
Quarter-end

–

16.00

–

–

16.00

–

Year-end

16.00

Year ending March 31, 2013
16.00
(Forecasts)
Note: Revisions to the most recently announced dividend forecasts during the current quarter: No

Total

32.00

32.00

3. Consolidated earnings forecasts for the year ending March 31, 2013
(April 1, 2012 – March 31, 2013)(Percentages show change from corresponding year-ago period.)
Net Sales
Million yen%

Operating Income

Ordinary Income

Million yen

Million yen%%

Net Income
per Share

Net Income
Million yen%

Yen

1,520,000
0.8
38,00011.7
39,0005.9
12,000–Note: Revisions to the most recently announced earnings forecasts during the current quarter: No

18.63

Full year

Notes(1) Changes in significant subsidiaries during the current quarter (changes in specified subsidiaries
resulting in change of scope of consolidation): No(2) Application of accounting procedures peculiar to quarterly consolidated financial statement
preparation: No(3) Changes in accounting policies, changes in accounting estimates, and restatement of revisions
1) Changes in accounting policies with revision of accounting standards: Yes
2) Changes in accounting policies other than the 1) above:No3) Changes in accounting estimates:
Yes
4) Restatement of revisions:No
Note: DNP changed depreciation methods starting in the first quarter of this fiscal year, and this change falls under the
category of “changes in accounting policies that are difficult to distinguish from changes in accounting estimates.” Forfurther details, see the section titled, “2. Summary information (Notes): Changes in accounting policies, changes inaccounting estimates, and restatement of revisions,” on page 3.

(4) Number of common shares issued and outstanding
1) Number of common shares
outstanding at end of each period(including treasury shares)
2) Number of treasury shares at endof each period
3) Average number of shares
outstanding during the period(cumulative from the start of the
fiscal year)

As of December 31,
2012

700,480,693
shares

As of March 31, 2012

700,480,693
shares

As of December 31,
2012

56,476,077
shares

As of March 31, 2012

56,417,765
sharesNine months ended
December 31, 2012

644,039,918
sharesNine months ended
December 31, 2011

644,112,868
sharesPresentation of implementation status for quarterly review procedures
These quarterly financial statements are not subject to quarterly review procedures based on the Financial
Instruments and Exchange Act, and a review of these financial statements based on said act is underway
at the time of their disclosure.
Explanation regarding appropriate use of earnings forecasts and other special notes
Forward-looking statements in this report, including earnings forecasts, are based on assumptions about
economic conditions, market trends, and other factors at the time the report was prepared. Actual results
may differ significantly due to a variety of factors.
See the “(3) Qualitative information on the consolidated earnings forecasts” on page 3 for information
about earnings forecasts.

Contents
1. Qualitative information on the consolidated results for the current quarter ····· 2(1) Qualitative information on the consolidated financial results ···································· 2(2) Qualitative information on the consolidated financial position ·································· 3(3) Qualitative information on the consolidated earnings forecasts ······························· 3

2. Summary information (Notes) ················································································· 3
Changes in accounting policies, changes in accounting estimates, and restatementof revisions ··························································································································· 3

3. Quarterly consolidated financial statements ························································ 4(1) Quarterly consolidated balance sheets ········································································ 4(2) Quarterly consolidated statements of income and quarterly consolidated
statements of comprehensive income ··············································································· 6
Quarterly consolidated statements of income ··························································· 6
Quarterly consolidated statements of comprehensive income ······························· 7(3) Note on assumptions for going concern······································································· 8(4) Segment information, etc. ······························································································ 8(5) Significant changes in shareholders’ equity ································································ 8

11. Qualitative information on the consolidated results for the current quarter(1) Qualitative information on the consolidated financial results
During the first nine months of the fiscal year, Japan’s economy benefited from earthquake
restoration demand, but conditions remained harsh as a result of the European financial crisis,
economic slowdowns in emerging countries, and other factors.
The printing industry continued to face a tough business environment as a result of weak
demand and decline in order prices from stiffer competition.
In this environment, the DNP Group (DNP) sought to aggressively develop its business anddeliver products, services, and solutions tailored to the needs of its customers, based on its P&I
Solutions business vision (P&I stands for “printing technology” and “information technology”).
DNP also pursued “Production 21” Activities intended to establish a robust production structure
in all facets of production, including quality, cost, and delivery time. Additionally, DNP worked tosecure earnings through the reorganization of domestic and overseas business structures fromthe standpoint of overall optimization and actively pursued business expansion from global andsocial perspectives.
Amid these efforts, consolidated net sales for the first nine months fell 4.2% year on year to¥1,088.2 billion, consolidated operating income grew 7.0% to ¥24.4 billion, consolidated
ordinary income grew 10.6% to ¥28.7 billion, and net income grew 143.4% to ¥9.8 billion.
Business segment results are presented below.
[PRINTING]
Information Communication
In the Information Communication segment, DNP integrated the three business divisions
responsible for commercial printing, smart cards, and security solutions to establish a structure
capable of creating comprehensive solutions in October 2012. The company is also taking
specific steps to expand cloud computing and platform service businesses together withbusiness partner Nihon Unisys, Ltd.
In the Books and Magazines business, amid a continued slump in the publications market,
book sales increased thanks to aggressive sales activities, but magazines decreased andoverall sales fell below year-ago levels.
In the Commercial Printing business, Business Process Outsourcing (BPO) services,
point-of-purchase (POP) materials, and other products increased, but overall sales decreased
year on year on declines for flyers, pamphlets, and other printed materials.
In the Business Forms business, smart card sales increased, including SIM cards andelectronic money, but overall sales decreased year on year on a decline for information
processing services (ranging from data entry to printing and shipment of personal mail andother items).
In the Education and Publications Distribution business, the bookstore market continued to
face tough conditions, and sales decreased from the previous year.
As a result of the above, overall segment sales fell 0.8% year on year to ¥526.0 billion but
operating income grew 33.9% to ¥11.3 billion.
Lifestyle and Industrial Supplies
In the Packaging business, sales increased year on year on growth for paper containers, PET
bottle aseptic filling systems, and other products. Additionally, to further enhance thecompetitiveness of the Packaging business, DNP integrated domestic manufacturing divisions
into one company in October 2012, expanded capacity at the Indonesian plant, and is building aplant in Vietnam that is scheduled to commence operation in April 2013.
In the Lifestyle Materials business, sales increased year on year on continued growth foreco-friendly products that use DNP’s proprietary Electron Beam coating technology.
In the Industrial Supplies business, despite growth for energy-related products, including
lithium ion rechargeable battery soft packages and photovoltaic cell sealing materials, overallsales decreased year on year on a decline for anti-reflection films used in flat-panel displays.

2

As a result of the above, overall segment sales grew 0.9% year on year to ¥395.0 billion but
operating income fell 13.2% to ¥20.6 billion.
Electronics
In the Electronics segment, DNP integrated the Display Components and Electronic Devices
divisions in June 2012 and is working to improve profitability while focusing on new productdevelopment.
In the LCD Color Filter business, sales of small- and medium-sized filters for smart phones
and tablets were strong, but overall sales decreased year on year on lower demand for large
LCD panels and the transfer of the Sakai plant color filter business in August 2012.
In the Electronic Devices business, amid continued tough conditions in the semiconductor
market, although sales of module products increased, including image quality adjustment LSIs,
overall sales fell below year-ago levels on declines for photomasks and etched products,
including hard disk suspensions.
As a result of the above, overall segment sales fell 23.2% year on year to ¥137.2 billion andoperating losses totaled ¥1.9 billion, versus losses of ¥3.1 billion during the same period lastyear.
[BEVERAGES]
Beverages
Amid tough market conditions characterized by weak consumer spending and stiffer sales
competition, DNP worked to expand sales of Coca-Cola and Georgia, both core products, and I
LOHAS, a brand of mineral water that uses "ecoru Bottle Shiboru," Japan’s lightest bottle.
As a result of the above, tea beverages and mineral waters increased, but carbonatedbeverages decreased, and overall segment sales fell 1.2% year on year to ¥43.1 billion andoperating income fell 53.9% to ¥600 million.

(2) Qualitative information on the consolidated financial position
Total assets at the end of the third quarter decreased by ¥69.0 billion from the end of theprevious fiscal year to ¥1,539.7 billion, due mainly to a decline in cash and time deposits.
Total liabilities decreased by ¥63.1 billion from the end of the previous fiscal year to ¥631.4
billion, due mainly to a decline in notes and trade payable.
Net assets decreased by ¥5.8 billion from the end of the previous fiscal year to ¥908.3 billion,
due mainly to a decline in retained earnings.
As a result of the above, the equity ratio rose from 54.2% at the end of the previous fiscal
year to 56.1%.

(3) Qualitative information on the consolidated earnings forecasts
Our earnings forecasts for the fiscal year ending March 31, 2013 are unchanged from theforecasts announced on November 8, 2012.

2. Summary information (Notes)
Changes in accounting policies, changes in accounting estimates, and restatement of revisions(Changes in accounting policies that are difficult to distinguish from changes in accounting
estimates)
In line with revisions of the Corporation Tax Act, Dai Nippon Printing Co., Ltd. and domestic
consolidated subsidiaries changed to a depreciation method based on the revised act for
property, plant and equipment acquired on or after April 1, 2012 starting in the first quarter of thisfiscal year.
This change has an immaterial impact on earnings.

3

3. Quarterly consolidated financial statements(1) Quarterly consolidated balance sheets(Million yen)
As of March 31, 2012

As of December 31, 2012ASSETS
Current assets
Cash and time deposits
Notes and trade receivable
Merchandise and finished products
Work in progress
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Fixed assets
Property, plant and equipment
Buildings and structures, net
Machinery and equipment, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible fixed assets
Other
Total intangible fixed assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Deferred assets
TOTAL ASSETS

4

217,518
385,101
91,91239,356
19,85032,920(3,703)782,956

174,975
374,599
92,24733,655
20,612
23,818(3,439)716,470

213,514
144,326
142,149
35,41044,165579,566

194,633
127,720
155,147
26,93937,469541,91038,00538,00535,44335,443

136,70376,718(6,034)
207,387
824,959889
1,608,806

170,304
82,504(6,880)245,928
823,282–
1,539,752

(Million yen)
As of March 31, 2012

As of December 31, 2012

LIABILITIESCurrent liabilities
Notes and trade payable
Short-term bank loans

276,353
51,809261,434
42,945Reserve for bonuses

15,019

5,863

Other

99,996

134,433

Total current liabilities

443,179444,677

Bonds

153,060

102,505

Long-term debt

19,147

19,887

Provision for retirement benefits

33,22927,727

Other

45,976

36,633

Total long-term liabilities

251,413

186,753

694,593

631,430

Common stock

114,464

114,464

Capital surplus

144,898

144,898

Retained earnings

723,459

712,738

Treasury stock(94,172)(94,217)

Total stockholders’ equity

888,649

877,883

4,370

6,732

(14)

(19)

(21,775)(20,374)(17,420)(13,661)

16

16

Minority interests

42,96744,083TOTAL NET ASSETS

914,213908,322

1,608,806

1,539,752

Long-term liabilities

TOTAL LIABILITIESNET ASSETSStockholders’ equity

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Net deferred losses on hedges
Foreign currency translation adjustments
Total accumulated other comprehensive
incomeStock acquisition rights

TOTAL LIABILITIES AND NET ASSETS

5

(2) Quarterly consolidated statements of income and quarterly consolidated statementsof comprehensive income
Quarterly consolidated statements of income
First nine months of the fiscal years(Million yen)

Nine months ended
December 31, 2011
1,135,977

Nine months ended
December 31, 2012
1,088,291

Cost of sales

940,860

894,715Gross profit

195,116

193,575

Selling, general and administrative expenses

172,228

169,090

Operating income

22,88724,484

3,162
564
5,970
9,698

3,181
2,872
5,392
11,446

2,553
4,040
6,593

2,618
4,575
7,194

25,991

28,737

1,762
–
149
1,911

234
293
121
648

3,707
2,664
2,064
8,436
19,466
10,330
4,502
14,833
4,633
566
4,066

3,157
3,073
2,673
8,904
20,481
10,201796
10,997
9,483
(413)
9,896

Net sales

Non-operating income
Interest and dividend income
Equity in earnings of affiliates
Other
Total non-operating income
Non-operating expense
Interest expense
Other
Total non-operating expenses
Ordinary income
Extraordinary gains
Gain on sale of fixed assets
Compensation income
Other
Total extraordinary gains
Extraordinary losses
Loss on sale or disposal of fixed assets
Loss on devaluation of investment securities
Other
Total extraordinary losses
Income before income taxes and minority interests
Current income taxes
Deferred income taxes
Income and other taxes
Income before minority interests
Minority interests in income (loss)
Net income

6Quarterly consolidated statements of comprehensive income
First nine months of the fiscal years(Million yen)

Income before minority interests
Other comprehensive income (loss)
Valuation difference on available-for-salesecurities
Net deferred gains (losses) on hedges
Foreign currency translation adjustments
Share of other comprehensive loss of affiliates
accounted for using equity method
Total other comprehensive income (loss)
Comprehensive income (loss)
Comprehensive income (loss) attributable toComprehensive income (loss) attributable toowners of the parent
Comprehensive income (loss) attributable tominority interests

7

Nine months ended
December 31, 2011

Nine months ended
December 31, 2012

4,633

9,483

(6,690)2,215

8(5,427)

(4)
1,178

(4)

(11)

(12,113)(7,480)3,378
12,861(7,598)13,655

118(794)

(3) Note on assumptions for going concern
None(4) Segment information, etc.
I. First nine months of previous fiscal year (April 1, 2011 – December 31, 2011)
Information on sales and income/loss by reporting segment
Reporting segment
Information
Communication

Lifestyle andIndustrial
Supplies

Electronics

526,016

387,576

178,733

Beverages

Total(Million yen)Amounts
reported on
Adjustment
quarterly
Note 1
consolidated
statements ofNote 2incomeNet sales
Outside customers

43,6501,135,977–

1,135,977

Inter-segment

4,155

3,880

1

2

8,040

(8,040)–Total

530,172

391,457

178,734

43,652

1,144,017(8,040)1,135,977

Segment income (loss)

8,462

23,747(3,173)

1,420

30,457(7,570)22,887

Notes: 1. Segment income (loss) is adjusted for costs related to basic research not assignable to a reporting
segment or costs of research shared by different segments.
2. Segment income (loss) is adjusted to reflect operating income as reported on the consolidated
statements of income.

II. First nine months of current fiscal year (April 1, 2012 – December 31, 2012)
Information on sales and income/loss by reporting segment
Reporting segment
Information
Communication

Lifestyle andIndustrial
Supplies

Electronics

521,381386,526

137,273

Beverages

Total(Million yen)Amounts
reported on
Adjustment
quarterly
Note 1
consolidated
statements ofNote 2incomeNet sales
Outside customers

43,1101,088,291–

1,088,291

Inter-segment

4,689

8,502

0

1

13,194(13,194)–

Total

526,070

395,028

137,274

43,112

1,101,485(13,194)

1,088,291

Segment income (loss)

11,335

20,611(1,941)654

30,659(6,174)24,484

Notes: 1. Segment income (loss) is adjusted for costs related to basic research not assignable to a reporting
segment or costs of research shared by different segments.
2. Segment income (loss) is adjusted to reflect operating income as reported on the consolidated
statements of income.

(5) Significant changes in shareholders’ equityNone8