Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2013
[J-GAAP]
August 9, 2012

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:August 9, 2012
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 three months ended June 30, 2012
(April 1, 2012 – June 30, 2012)(1) Consolidated financial results(Percentages show change from corresponding year-ago period.)
Net Sales

Three months ended
June 30, 2012
Three months ended
June 30, 2011

Operating Income

Ordinary Income

Net Income (Loss)

Million yen%

Million yen%

Million yen%

Million yen%

352,949

(4.7)

2,556

(65.6)

3,807(65.6)(4,211)–

370,309

(6.5)

7,427

(65.5)

11,067(51.0)

4,374(50.3)

Note: Comprehensive income: For the first three months ended June 30, 2012: ¥(3,210) million (–)%
For the first three months ended June 30, 2011: ¥6,944 million (429.3)%
Net Income (Loss) per ShareThree months ended
June 30, 2012
Three months ended
June 30, 2011

Diluted Net Income
per Share

Yen

Yen

(6.54)–

6.79–(2) Consolidated financial position
Total Assets

Net Assets

Equity Ratio

Million yen

Million yen%

As of June 30, 2012

1,571,701

900,832

54.5

As of March 31, 2012

1,608,806

914,21354.2

Note: Stockholders’ equity as of June 30, 2012: ¥856,940 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

–

Year-end

16.00

Total

32.00

–

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

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

Full year
1,580,000
4.8
48,00041.1
47,00027.6
17,500–Note: Revisions to the most recently announced earnings forecasts during the current quarter: No

27.17

Other information(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 thischange falls under the category of “changes in accounting policies that are difficult to distinguishfrom changes in accounting estimates.” For further details, see the section titled, “2. Summary
information (Notes): Changes in accounting policies, changes in accounting estimates, andrestatement 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 June 30, 2012

700,480,693
shares

As of March 31, 2012

700,480,693
shares

As of June 30, 2012

56,418,816
shares

As of March 31, 2012

56,417,765
sharesThree months ended
June 30, 2012

644,061,498
sharesThree months ended
June 30, 2011

644,139,284
sharesPresentation of implementation status for quarterly review procedures
The quarterly review procedure based on the Financial Instruments and Exchange Act does not apply tothese Consolidated Financial Results, and the quarterly review procedure based on the Financial
Instruments and Exchange Act was completed as of the release of these Consolidated Financial Results.
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 “1. Qualitative information on the consolidated results for the current quarter, (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, andrestatement of 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
First three months of the fiscal years........................................................................ 6
Quarterly consolidated statements of comprehensive income
First three months of the fiscal years........................................................................ 7(3) Note on assumptions for going concern....................................................................... 8(4) Segment information etc. ............................................................................................... 8(5) Significant changes in shareholders’ equity ................................................................ 9(6) Significant subsequent events....................................................................................... 9

1

1. Qualitative information on the consolidated results for the current quarter(1) Qualitative information on the consolidated financial results
During the first three months of the fiscal year, Japan’s economy showed a gradual recovery
driven by domestic demand, including restoration demand, but conditions remained challenging
on account of overseas economic downturns, prolonged yen strength, and concerns aboutstable domestic electricity supply.
The printing industry continued to face a tough business environment as a result of weak
demand, decline in order prices from stiffer competition, and increase in raw material prices.
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”). In
particular, DNP focused on “business creation” research and development to find proper
solutions to problems from the standpoint of consumers and on the pursuit of “social business”
to solve various social problems related to the environment, energy, education, and othermatters. DNP also worked to expand its business globally, especially in the prospective highgrowth region of Asia. Moreover, DNP sought to secure earnings through the continued pursuitof “Production 21” Activities intended to establish a robust production structure in all facets ofproduction, including quality, cost, and delivery time.
Despite these efforts, consolidated net sales for the first three months fell 4.7% year on yearto ¥352.9 billion, consolidated operating income fell 65.6% to ¥2.5 billion, consolidated ordinary
income fell 65.6% to ¥3.8 billion, and net losses totaled ¥4.2 billion, versus net income of ¥4.3
billion during the same period last year.
Business segment results are presented below.
[PRINTING]
Information Communication
In the Books and Magazines business, the publications market continued to slump, andalthough magazine sales decreased, book sales increased on a contribution from an expansionof integrated production lines, and overall sales rose above year-ago levels.
In the Commercial Printing business, sales increased year on year on growth for flyers,
catalogs, POP, and other products due to aggressive sales activities.
In the Business Forms business, smart card sales were strong, 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, sales rose above year-ago levels onstrong sales of books to libraries.
As a result of the above, overall segment sales grew 2.9% year on year to ¥177.5 billion andoperating income increased 107.8% to ¥3.7 billion.
Lifestyle and Industrial Supplies
In the Packaging business, despite declines for paper containers and packaging films, overallsales increased year on year on growth for PET bottle aseptic filling systems.
In the Lifestyle Materials business, sales increased year on year on growth for eco-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.
As a result of the above, overall segment sales fell 2.9% year on year to ¥127.3 billion andoperating income dropped 43.5% to ¥4.8 billion.
Electronics
In the LCD Color Filter business, sales of small- and medium-sized filters for smart phones and2tablets were strong, but overall sales decreased year on year on a continued slump for large
filters caused by sluggish global sales of LCD TVs.
In the Electronic Devices business, amid continued tough conditions in the semiconductor
market, sales increased for module products and etched products, but decreased forphotomasks, and overall sales fell below year-ago levels.
As a result of the above, overall segment sales fell 25.6% year on year to ¥42.7 billion andoperating losses totaled ¥3.4 billion, versus losses of ¥200 million 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,” Japanʼs lightest bottle.
As a result of the above, coffee and tea beverages increased and overall segment sales
grew 1.2% year on year to ¥11.7 billion while operating losses totaled ¥500 million, versus
losses of ¥200 million during the same period last year.
(2) Qualitative information on the consolidated financial position
Total assets at the end of the first quarter decreased by ¥37.1 billion from the end of theprevious fiscal year to ¥1,571.7 billion, due mainly to a decrease in notes and trade receivable.
Total liabilities decreased by ¥23.7 billion from the end of the previous fiscal year to ¥670.8
billion, due mainly to a decline in the reserve for bonuses.
Net assets decreased by ¥13.3 billion from the end of the previous fiscal year to ¥900.8
billion, due mainly to a decrease 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 54.5%.

(3) Qualitative information on the consolidated earnings forecasts
Our earnings forecasts for the fiscal year ending March 2013 are unchanged from the forecasts
announced on May 14, 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 June 30, 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
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

207,707363,928
95,70737,73820,817
29,179(3,576)
751,502

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

211,328
142,658
142,041
38,812
43,341
578,183

38,00538,00537,39537,395

213,421(6,034)
207,387
824,959889
1,608,806

209,836(6,012)203,824
819,403795
1,571,701

(Million yen)
As of March 31, 2012

As of June 30, 2012

LIABILITIESCurrent liabilities
Notes and trade payable
Short-term bank loans

276,353
51,809275,407
46,004

Reserve for bonuses

15,019

5,847

Other

99,996

96,636

Total current liabilities

443,179

423,895

Bonds

153,060

152,835

Long-term debt

19,14718,452

Provision for retirement benefits

33,22931,369Other

45,97644,316

Total long-term liabilities

251,413

246,973694,593

670,869

Common stock

114,464

114,464

Capital surplus

144,898

144,898

Retained earnings

723,459

708,948

Treasury stock(94,172)(94,169)

Total stockholders’ equity

888,649

874,141

4,370

1,271

(14)

4

(21,775)(18,476)(17,420)(17,200)

16

16

Minority interests

42,96743,875TOTAL NET ASSETS

914,213

900,832

1,608,806

1,571,701

Long-term liabilities

TOTAL LIABILITIESNET ASSETSStockholders’ equity

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Net deferred gains (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 three months of the fiscal years(Million yen)Three months ended
June 30, 2011
370,309

Three months ended
June 30, 2012
352,949

Cost of sales

305,717

293,326

Gross profit

64,592

59,623

Selling, general and administrative expenses

57,16557,066

Operating income

7,427

2,556

2,068
–
3,831
5,899

2,058
56
1,475
3,589

853
600

868
–

805
2,260

1,470
2,339

11,067

3,807

19
30
10
59

63
–
8
72

1,004
251
590
1,847

1,363
3,636
272
5,271

9,279

(1,392)

2,964
1,856
4,821
4,457
83
4,374

1,925
175
2,101
(3,494)717(4,211)

Net sales

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

6

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

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

7

Three months ended
June 30, 2011

Three months ended
June 30, 2012

4,457

(3,494)244(3,213)

16
2,225

19
3,483

0

(4)

2,486
6,944

284
(3,210)6,524(3,991)

420

781

(3) Note on assumptions for going concern
None(4) Segment information etc.
[Segment information]
I First three months of previous fiscal year (April 1, 2011 – June 30, 2011)
Information on sales and income/loss by reporting segment
Reporting segment(Million yen)Amounts
reported on
Adjustment
quarterly
Note 1
consolidated
statements ofNote 2incomeInformation
Communication

Lifestyle andIndustrial
Supplies

Electronics

171,533

129,71457,453

11,607370,309–

370,309

Inter-segment

1,059

1,403

0

0

2,464

(2,464)–

Total

172,593

131,118

57,453

11,607372,773(2,464)

370,309

Segment income (loss)

1,808

8,610

(229)

(295)

9,893

(2,466)

7,427

Beverages

Total

Net sales
Outside customers

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 three months of current fiscal year (April 1, 2012 – June 30, 2012)
Information on sales and income/loss by reporting segment
Reporting segment(Million yen)Amounts
reported on
Adjustment
quarterly
Note 1
consolidated
statements ofNote 2incomeInformation
Communication

Lifestyle andIndustrial
Supplies

Electronics

176,269

122,167

42,766

11,746352,949–

352,949

Inter-segment

1,312

5,150

0

0

6,463

(6,463)–

Total

177,582

127,31742,766

11,747359,413(6,463)352,949

Segment income (loss)

3,757

4,863

(3,430)

(529)

4,659

(2,103)

2,556

Beverages

Total

Net sales
Outside customers

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.

8

(5) Significant changes in shareholders’ equity
None(6) Significant subsequent events
Dai Nippon Printing Co., Ltd. based on a Board of Directors resolution adopted on August 9,
2012, concluded a stock transfer agreement with Mitsui & Co., Ltd. (Mitsui) on August 9, 2012
to acquire a portion of the common stock in Nihon Unisys, Ltd. (Nihon Unisys) owned by Mitsui.
Dai Nippon Printing Co., Ltd. also concluded a business alliance agreement with Nihon Unisys.
Dai Nippon Printing Co., Ltd. plans to make Nihon Unisys an equity-method affiliate basedon this stock acquisition.

9