Name of listed company:
Company Code:
Representative:
Title
Enquiries:
Title

ISEKI & CO., LTD.
6310
(URL http://www.iseki.co.jp)

President
General Manager of Corporate
Planning Department
Date of Submission of Quarterly Report
Scheduled Date to Commence Dividend Payment
Supplementary information for quarterly financial information
Quarterly financial results briefing

Stock Exchange Listing: Tokyo
Name
Noriyuki Kimura
Shunichi Suzuki
Name
Telephone : +81 3 5604 7709
August 10, 2012
Yes
Yes (For institutional investors, analysts)

Summary Announcement of Consolidated Financial Results
for the Three Months Ended June 30, 2012 [Japanese GAAP](Consolidated)
I. Financial Results for the Three Months Ended June 30, 2012 (April 1, 2012  June 30, 2012)
A. Results of operations(Rounded down to millions of yen, % indicates changes from the previous period)

Three Months Ended
June 30, 2012
Net Sales
Operating Income
Ordinary Income
Net Income
Net Income per Share (yen)Non-diluted
Fully Diluted

34,050
1,212
1,150
1,465

Three Months Ended
June 30, 2011

%
5.2
52.6
27.5
52.9

32,355
794
902
958

6.38
-

%
(2.7)
(39.4)(11.7)
14.1

4.17
-

(Note) Comprehensive income:First Quarter of FY Mar. 2013 ¥1,139 mil. (19.0%)

First Quarter of FY Mar. 2012 ¥957 mil. (25.8%)

B. Financial Position(Rounded down to millions of yen)

June 30, 2012

March 31, 2012

182,392
58,98331.5%
250.27

172,554
58,18932.9%246.77

Total Assets
Net Assets
Shareholders’ Equity to Total Assets Ratio
Net Assets per Share (yen)(Ref) Shareholders’ equity:

First Quarter of FY Mar. 2013 ¥57,501 mil. FY ended Mar. 2012 ¥56,698 mil.
II. Dividends

Dividend per share (Yen)(Recorded date)
FY ended March 2012
FY ending March 2013

End of 1Q-

End of 2Q-

End of 3Q-

Year-end
1.50

Annual1.50--

2.00~3.00

2.00~3.00

FY ending March 2013 (forecast)(Note) Revision from the most recently announced dividend forecast : No

1

III. Forecast for the Fiscal Year Ending March 31, 2013 (April 1, 2012  March 31, 2013)(Rounded down to millions of yen, % indicates changes from the previous same period)

Interim(Cumulative)
AnnualNet sales%

Operatingincome%Ordinary
Income%Net
income%Net income
per share(yen)

78,500

8.5

2,800

6.2

2,600

6.7

1,800

(0.5)

7.83

153,000

5.3

4,600

8.7

3,900

0.0

2,700

(1.0)

11.75

(Note) Revision from the most recently announced performance forecast: Yes* NotesA. Change 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 quarterly financial statements: None
C. Change in accounting policy, change of estimation in accounting and modified restatement
1) Change in accounting policy which accompanies revision of accounting standards : Yes
2) Change in accounting policy other than No.1): None3) Change of estimation in accounting: Yes4) Modified restatement: None
The above corresponds to Paragraph 5 of Article 10 of “Regulations Concerning the Terminology, Forms
and Preparation Method of Quarterly Consolidated Financial Statements”. For details, please refer to page
3 of the attached document, [2.Matters Concerning Summary Information (Notes) (2) Change inaccounting policy/change of estimation in accounting and modified restatement].
D. Outstanding shares (Common shares)
1) Outstanding shares as of the end of the period (Including treasury shares)
First quarter of FY ending March 31, 2013
229,849,936 shares
FY ended March 31, 2012
229,849,936 shares
2) Outstanding treasury shares as of the end of the period
First quarter of FY ending March 31, 2013
91,240 shares
FY ended March 31, 2012
89,379 shares
3) Average number of shares during the period (Quarterly cumulative period)First quarter of FY ending March 31, 2013
229,759,674 sharesFirst quarter of FY ended March 31, 2012
229,776,284 shares* Statement regarding state of implementation of quarterly review procedure
The summary of quarterly financial results is exempted from the requirement of quarterly review procedure
under the Financial Instruments and Exchange Act, we have not completed the review procedure of thequarterly financial statements at the time of disclosure.
* Statement regarding proper use of financial performance forecasts and other notes
The forecast for operating results stated in this document has been produced based on information presently
available and certain assumptions deemed reasonable. It is possible that in future actual results may differ fromthe anticipated figures for a variety of reasons. For assumed conditions of the business performance forecast
and adequate use of the forecast, please refer to page 2 of the attached document, [1.Qualitative Information
regarding quarterly financial results].

2

Content of the attached document
1. Qualitative Information regarding quarterly financial results ··················································· 4(1) Qualitative information concerning the status of consolidated financial results ················ 4(2) Qualitative information concerning the shifts in consolidated financial position ·············· 4(3) Qualitative information regarding performance forecast··················································· 5
2. Matters concerning Summary Information (Notes) ·································································· 5(1) Changes in important subsidiaries during the quarterly consolidated cumulative period··· 5(2)Change in accounting policy/change of estimation in accounting and modified
restatement····················································································································· 5

3. Consolidated Quarterly Financial Statements··········································································· 6(1) Consolidated Quarterly Balance Sheets ············································································ 6(2) Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements ofComprehensive Income···································································································· 8Consolidated Quarterly Statements of Income·································································· 8Consolidated Quarterly Statements of Comprehensive Income ········································ 9(3) Notes regarding the Going Concern Assumption ···························································· 10(4) Segment Information······································································································ 10(5) Notes in case there is a substantial change in the amount of shareholders’ equity··········· 10

31. Qualitative Information regarding quarterly consolidated financial results(1) Qualitative information concerning the status of consolidated financial results
During the first quarter consolidated cumulative period under review, while the Japanese economy followed
a pattern of gradual recovery driven by the domestic-demand related industries based on therestoration from the earthquake, its future still remains unpredictable in the face of prolonged extra strong yen
value, coupled with public debt issues of the European nations and the decelerating economic growth in China,etc., that slowed corporate performances. Under these circumstances, the consolidated business performance of
the ISEKI Group resulted as follows.
In the first quarter consolidated cumulative period under review, sales increased ¥1,694 million from thesame period of the previous year, to ¥34,050 million (up 5.2%). Domestic sales increased ¥3,385 million to¥29,776 million (up 12.8%). Overseas sales decreased ¥1,690 million from the same period of the previous
year to ¥4,273 million (down 28.3%). Operating income increased ¥417 million to ¥1,212 million (up 52.6%)
mainly due to increased gross income by increased sales. Ordinary income increased ¥247 million to ¥1,150
million (up 27.5%). Quarterly net income increased ¥507 million to ¥1,465 million (up 52.9%).
Financial results by segments are as follows:
1) Agriculture related businessIn the domestic market, sales increased as a result of the recovery from the sales decline in Tohoku district
caused by the Great East Japan Earthquake that occurred in the same period of the previous year as well as
increased construction works of facilities. Overseas sales decreased due to decreased sales of rice transplantersin the Chinese market and the decreased sales of tractors in the European market.
The trend of sales by product is as follows.
(Domestic)
Sales of cultivating & mowing machinery (tractors, tillers, etc.) were ¥8,306 million (up 2.2% from the same
period of the previous year), and sales of planting machinery (rice transplanters, vegetable transplanters) were
¥2,840 million (up 11.4%). Sales of harvesting and processing machinery (combine harvesters, etc.) were
¥4,103 million (up 18.6%). Sales of spare parts and farming implements were ¥6,256 million (up 4.2%). The
other agriculture related sales (construction of facilities, etc.) were ¥8,236 million (up 32.6%).
(Overseas)
Sales of cultivating & mowing machinery (tractors, etc.) were ¥2,571 million (down 17.5% from the same
period of the previous year), and sales of planting machinery (rice transplaters, etc.) were ¥1,019 million (down
57.5%). Sales of harvesting and processing machinery (combine harvesters, etc.) were ¥161 million (up480.9%).

Sales of spare parts and farming implements were ¥269 million (up 26.4%). The other agriculture

related sales were ¥252 million (up 20.6%).
As a result, the segment sales remained at ¥34,018 million (up 5.3%).
2) Other businessAs other business, we engage in development/sales/operation of computer software. This segment sales
stood at ¥32 million (down 21.5%).

4

(2) Qualitative information concerning the shifts in consolidated financial position
As of the end of the first quarter consolidated cumulative period, total assets increased ¥9,838 million fromthe previous fiscal year end to ¥182,392 million. The main change was from a ¥1,896 million increase in cash
and deposits, a ¥8,093 million increase in notes and accounts receivable-trade. Total liabilities increased ¥9,044
million from the previous fiscal year end to ¥123,408 million, mainly as a result of a ¥2,024 million increase innotes and accounts payable-trade and a ¥8,703 million increase in short-term and long-term loans payable. Net
assets increased ¥794 to ¥58,983 million from the previous fiscal year end mainly due to quarterly net incomeof ¥1,465 million and decrease in valuation difference on available-for-sale securities of ¥418 million.
(3) Qualitative information regarding consolidated performance forecast
During the first quarter consolidated cumulative period under review, product sales increased as a result of
aggressive promotion of sales expansion in the domestic market that aimed at restoration from the Great East
Japan Earthquake. We will continue to engage in the aggressive sales expansion process under the unified
slogan “Cheering Squad Supporting Dream of Agriculture! ISEKI”. In overseas, we will engage in further sales
expansion in the Chinese market based on the continuing solid sales of rice transplanters that grew
substantially last year.
We will accelerate our commitment to the cost structure reform toward concern for worsening of the
profitability by strong yen and the raise in the raw material price, trying to secure our business performance.
With regard to the business performance forecasts for the second quarter cumulative period of the fiscal
year ending March 31, 2013 announced on May 11, 2012, we have made a downward revisions of net sales in
anticipation of lower business performancein comparison with the forecasts given in the previous

announcement. This is in light of recent orders received and the trends of the foreign exchange market. There is
no revision made to the operating income, ordinary income and net income.
For details, please refer to “Notice on Revision of Business Performance Forecast” announced today(August 8, 2012).
2. Matters concerning Summary Information (Notes)(1) Changes in important subsidiaries during the quarterly consolidated cumulative period
There is no corresponding item.
(2) Change in the accounting policy/change of estimation in accounting and modified restatement(Change in the accounting policy that is hard to distinguish from change in estimate in accounting)In accordance with the revision of the Corporate Tax Law, we have changed to the method of depreciation
based on the revised Corporate Tax Law from the first quarter consolidated period under review with respect totangible fixed assets acquired after April 1, 2012. Its effect on the profit and loss is negligible.

53. Consolidated Quarterly Financial Statements(1) Consolidated Quarterly Balance Sheets
FY2012(as at Mar. 31, 2012)
AssetsCurrent Assets:
Cash and deposits
Notes and accounts receivable-trade
Short-term investment securities
Merchandise and finished goods
Work in progress
Raw materials and supplies
Other
Allowance for doubtful accounts
Total Current Assets
Noncurrent Assets:
Property, plant and equipment
Buildings and structures, net
Land
Others, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investment and other assets
Total Noncurrent Assets
Total Assets

6(millions of yen)
FY2013(as at Jun.30, 2012)

7,052
28,70319
38,168
3,295
1,380
4,265
(45)
82,8408,949
36,79619
37,752
3,416
1,609
4,597
(64)
93,078

14,96550,263
14,612
79,840981

14,91250,263
14,776
79,952
965

5,159
4,136
(403)
8,892
89,714
172,554

4,846
3,942
(392)
8,396
89,314
182,392

(millions of yen)
FY2012(as at Mar.31, 2012)

FY2013(as at Jun. 30, 2012)

Notes and accounts payable-trade

43,66745,692

Short-term loans payable

17,174

26,886

Current portion of long-term loans payable

8,147

7,431

Income taxes payable

803

194

Provision for bonuses

236

932

9,727

8,474

79,756

89,612

100

100

Long-term loans payable

16,653

16,360

Deferred tax liabilities for land revaluation

6,644

6,644

Provision for retirement benefits

5,485

5,243

Provision for directors' retirement benefits

116

112

Asset retirement obligations

257

257

5,351

5,077

34,60833,796

114,364

123,408

Capital stock

23,344

23,344

Capital surplus

13,454

13,454Retained earnings

7,887

9,008

Treasury stock

(22)

(22)

44,66445,784

265

(152)

3

-

11,816

11,816(51)

53

12,034

11,717

1,490

1,482

Total Net Assets

58,18958,983

Total Liabilities and Net Assets

172,554

182,392

Liabilities
Current Liabilities:

Other
Total Current Liabilities
Noncurrent Liabilities:
Bonds payable

Other
Total Noncurrent liabilities
Total Liabilities
Net Assets
Shareholders' equity

Total Shareholders’ Equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustments
Total Accumulated Other
Comprehensive Income
Minority interests7(2) Consolidated Quarterly Statements of Income and Consolidated Quarterly Statements of Comprehensive Income
Consolidated Quarterly Statements of Income
First Quarter Consolidated Cumulative Period(millions of yen)
FY2012(Apr.1,2011-Jun.30, 2011)

FY2013(Apr.1,2012-Jun.30, 2012)

Net sales

32,35534,050

Cost of sales

21,231

22,600Gross profit

11,123

11,450

Selling, general and administrative expenses

10,32910,237794

1,212Interest income

38

35

Dividend income

116

90

Foreign exchange gains

50

-

Other

258

155

Total non-operating income

462

281

202

189

-

35

Other

152

119

Total non-operating expenses

355

343

902

1,150

Gain on sales of noncurrent assets

22

4Comprensation Income

-

167

Other

0

-

Total extraordinary income

23

172

Loss on sales and retirement of noncurrent assets

18

22

Loss on valuation of investment securities

0

-

252

-

0

0

271

22

Income before income taxes

654

1,299

Income taxes-current

227

155

Income taxes-deferred

(510)

(320)

Total income taxes

(283)

(165)

Income before minority interests

937

1,465

Minority interests in income (loss)

(20)

(0)

Net income

958

1,465

Operating income
Non-operating income

Non-operating expenses
Interest expenses
Foreign exchange losses

Ordinary income
Extraordinary income

Extraordinary losses

Retirement benefit expenses
Other
Total extraordinary losses

8Consolidated Quarterly Statements of Comprehensive Income
First Quarter Consolidated Cumulative Period(millions of yen)
FY2012(Apr.1,2011-Jun.30, 2011)

FY2013(Apr.1,2012-Jun.30, 2012)

937

1,465

(2)

(427)

Deferred gains or losses on hedges-(3)

Foreign currency translation adjustments
Share of other comprehensive income of associates
accounted for using equity method
Total of other comprehensive income

22

89

-

14

19

(325)

Comprehensive income

957

1,139

(Breakdown)Comprehensive income for parent attributable to owners of theparentComprehensive income attributable to minority interests

981

1,147

(24)

(8)

Income before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities9(3) Notes regarding the Going Concern Assumption
There is no corresponding item.
(4) Segment Information
1. First quarter consolidated cumulative period of the previous year (April 1, 2011 – June 30, 2011)
Information related to the amount of sales, income or loss by reportable segments

Agriculture
relatedNet sales
Net sales to externalcustomers
Internal sales ortransfer among
segments
Total
Segment income (loss)

Other(million of yen)
Quarterly
consolidated
incomestatement
posted amount

Adjustment
amountTotal

32,31441

32,355-32,355

-

34

34

(34)

-

32,314956

75
132,390958(34)-

32,355958(Note)
1. Adjustment amount corresponds to elimination of inter-segments transactions.
2. Segment income (loss) has been adjusted with the quarterly net income in the quarterly consolidated statements
of income.
2. First quarter consolidated cumulative period under review (April 1, 2012 – June 30, 2012)
Information related to the amount of sales, income or loss by reportable segments

Agriculture
relatedNet sales
Net sales to externalcustomers
Internal sales ortransfer among
segments
Total
Segment income (loss)

Other(million of yen)
Quarterly
consolidated
incomestatement
posted amount

Adjustment
amountTotal

34,01832

34,050-34,050

0

32

32

(32)

-

34,0181,463

64
134,082
1,465

(32)
-

34,0501,465(Note)
1. Adjustment amount corresponds to elimination of inter-segments transactions.
2. Segment income (loss) has been adjusted with the quarterly net income in the quarterly consolidated statements
of income.
(5) Note in case there is a substantial change in the amount of shareholders’ equity
There is no corresponding item.

10