Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2014
[J-GAAP]
August 8, 2013

Company Name:
Dai Nippon Printing Co., Ltd.
Stock exchange listing:Tokyo
Stock code:
7912
URL: http://www.dnp.co.jp/
Representative:
Yoshitoshi Kitajima, President
Contact person:
Takaaki Tamura, General Manager, Press and Public Relations
Telephone:+81-3-5225-8220
Securities report issuing date:August 8, 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 three months ended June 30, 2013
(April 1, 2013 – June 30, 2013)(1) Consolidated financial results(Percentages show change from corresponding year-ago period.)
Net Sales

Three months ended
June 30, 2013
Three months ended
June 30, 2012

Operating Income

Ordinary Income

Net Income (Loss)

Million yen%

Million yen%

Million yen%

Million yen%349,151(1.1)

11,486349.2

14,279

275.1

7,060

–

352,949

(4.7)

2,556

(65.6)

3,807(65.6)(4,211)–Note: Comprehensive income: For the first three months ended June 30, 2013: ¥21,952 million (–%)
For the first three months ended June 30, 2012: ¥(3,210) million (–%)
Net Income (Loss) per ShareThree months ended
June 30, 2013
Three months ended
June 30, 2012

Diluted Net Income
per Share

Yen

Yen

10.96

10.96

(6.54)–(2) Consolidated financial position
Total Assets

Net Assets

Equity Ratio

Million yen

Million yen%

As of June 30, 2013

1,576,671

948,641

57.3

As of March 31, 2013

1,578,976

937,055

56.6Note: Stockholders’ equity: As of June 30, 2013: ¥903,169 million  As of March 31, 2013: ¥893,124 million

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

Year ended
March 31, 2013
Year ending
March 31, 2014–

SecondQuarter-end

Third
Quarter-end

16.00

–

Year-end

16.00

Total

32.00

–

Year ending March 31, 2014
16.00
–
16.00
(Forecasts)
Note: Revisions to the most recently announced dividend forecasts during the current quarter: No32.00

3. Consolidated earnings forecasts for the year ending March 31, 2014
(April 1, 2013 – March 31, 2014)(Percentages show change from corresponding year-ago period.)
Net Sales
Million yen%

Operating Income

Ordinary Income

Million yen

Million yen%%

Net Incomeper ShareNet Income%

Yen

Full year
1,530,000
5.8
48,00034.2
49,00021.5
23,00019.7
Note: Revisions to the most recently announced earnings forecasts during the current quarter: No

Million yen

35.71

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 statementpreparation: No(3) Changes in accounting policies, changes in accounting estimates, and restatement of revisions
1) Changes in accounting policies with revision of accounting standards: No
2) Changes in accounting policies other than the 1) above:No3) Changes in accounting estimates:
No4) Restatement of revisions:No(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 thefiscal year)

As of June 30, 2013

700,480,693
shares

As of March 31, 2013

700,480,693
shares

As of June 30, 2013

56,499,331
shares

As of March 31, 2013

56,490,329
sharesThree months ended
June 30, 2013

643,986,211
sharesThree months ended
June 30, 2012

644,061,498
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) Explanation of
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) Explanation of the consolidated financial results ........................................................ 2(2) Explanation of the consolidated financial position...................................................... 3(3) Explanation of the consolidated earnings forecasts ................................................... 3
2. Quarterly consolidated financial statements ..................................................................... 4(1) Quarterly consolidated balance sheets ........................................................................ 4(2) Quarterly consolidated statements of income and quarterly consolidated
statements of comprehensive income.......................................................................... 6Quarterly consolidated statements of income
First three months of the fiscal years........................................................................ 6Quarterly consolidated statements of comprehensive income
First three months of the fiscal years........................................................................ 7(3) Notes regarding quarterly consolidated financial statements.................................... 8[Notes on premise of a going concern] ........................................................................ 8[Significant changes in shareholders’ equity] ............................................................. 8[Segment information, etc.]............................................................................................ 81

1. Qualitative information on the consolidated results for the current quarter(1) Explanation of the consolidated financial results
During the first three months of the fiscal year, Japan’s economy showed some positive signs,
including improvement in corporate earnings and a recovery in consumer spending, aided by aseries of government measures. However, conditions remained uncertain amid concerns about
the financial crisis in Europe and economic slowdowns in emerging countries.
The printing industry continued to face a tough business environment as a result of higher
raw material prices and a decline in order prices from stiffer competition.
In this environment, the DNP Group (DNP) sought to aggressively develop its business under
the catchphrase “Today’s Innovation is Tomorrow’s Basic” and deliver products, services, andsolutions tailored to the needs of its customers, based on its P&I Solutions business vision (P&Istands for “printing technology” and “information technology”). DNP also pursued “Production21” Activities with the aim of establishing a robust production structure in all facets of production,
including quality, cost, and delivery time. Moreover, DNP worked to secure earnings through thereorganization of domestic and overseas business structures from the standpoint of overall
optimization and actively pursued business expansion from consumer, social, and global
perspectives.
As a result of these efforts, consolidated net sales for the first three months fell 1.1% year onyear to ¥349.1 billion, consolidated operating income grew 349.2% to ¥11.4 billion, consolidated
ordinary income grew 275.1% to ¥14.2 billion, and consolidated net income totaled ¥7.0 billion,
versus a net loss of ¥4.2 billion during the same period last year.
Business segment results are presented below.

[PRINTING]
Information Communication
In the Books and Magazines business, amid a continued slump in the publications market, booksales increased thanks to aggressive sales activities that leverage integrated production lines
from book printing to binding, but this was not enough to offset a decline for magazines, andoverall sales fell below year-ago levels.
In the Commercial Printing business, sales decreased year on year on across-the-board
declines for printed materials, including flyers, pamphlets, and catalogs.
The Business Forms business performed well on growth for smart cards and information
processing services (ranging from data entry to printing and shipment of personalized mail andother items).
In the Education and Publications Distribution business, despite efforts to expand business inthe “honto” hybrid bookstore network that combines physical bookstores, online bookstores,and e-book sales services, the bookstore market continued to struggle and sales decreased
from the previous year.
As a result of the above, overall segment sales fell 2.8% year on year to ¥172.6 billion, andoperating income edged down 0.4% to ¥3.7 billion.
Lifestyle and Industrial Supplies
In the Packaging business, sales decreased year on year on declines for PET bottle aseptic
filling systems, paper containers, and flexible packaging.
In the Lifestyle Materials business, the domestic housing market is gradually recovering, andsales increased year on year on firm sales of eco-friendly products that use DNP’s proprietary
Electron Beam coating technology.
In the Industrial Supplies business, sales increased year on year on growth for anti-reflection
films used in flat-panel displays, dye-sublimation thermal transfer printing media for photo2

printers (color ink ribbons and receiver paper), and other products.
As a result of the above, overall segment sales fell 1.0% year on year to ¥126.0 billion, but
operating income grew 56.6% to ¥7.6 billion.
Electronics
In the LCD Color Filter business, sales of large display filters fell below year-ago levels, but
small- and medium-sized filters for smart phones and tablets were firm.
In the Electronic Devices business, conditions remained difficult in the semiconductor market,
and although sales of photomasks were on par with last year, overall sales fell below year-ago
levels on a decline for etched products, including hard disk suspensions.
As a result of the above, overall segment sales fell 1.6% year on year to ¥42.0 billion, andoperating income totaled ¥2.7 billion, versus a loss of ¥3.4 billion during the same period lastyear.
[BEVERAGES]
Beverages
Amid a slump in the soft drink market and tough conditions caused by stiffer price competition,
DNP worked to expand sales of Coca-Cola and Georgia, both core products, and I LOHAS, abrand of mineral water that uses a lightweight PET bottle.
As a result of the above, mineral waters increased, but coffee beverages decreased, andoverall segment sales edged down 0.1% year on year to ¥11.7 billion and operating losses
totaled ¥0.4 billion, versus a loss of ¥0.5 billion during the same period last year.
(2) Explanation of the consolidated financial position
Total assets at the end of the first quarter decreased by ¥2.3 billion from the end of the previous
fiscal year to ¥1,576.6 billion, due partly to an increase in investment securities and a decreasein notes and trade receivables.
Total liabilities decreased by ¥13.8 billion from the end of the previous fiscal year to ¥628.0
billion, due partly to a decline in reserve for bonuses.
Net assets increased by ¥11.5 billion from the end of the previous fiscal year to ¥948.6 billion,
due mainly to increases for valuation difference on available-for-sale securities and foreign
currency translation adjustments.
As a result of the above, the equity ratio rose from 56.6% at the end of the previous fiscal
year to 57.3%.
(3) Explanation of the consolidated earnings forecasts
Our earnings forecasts for the fiscal year ending March 2014 are unchanged from the forecasts
announced on May 13, 2013.

3

2. Quarterly consolidated financial statements(1) Quarterly consolidated balance sheets(Million yen)
As of March 31, 2013

As of June 30, 2013ASSETS
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
TOTAL ASSETS

4

213,630
367,765
91,04729,03018,97733,583(2,883)751,150

223,615
347,435
92,97330,99520,20527,409(2,784)
739,849

196,019
129,350
154,005
22,921
36,157538,454

194,547
127,225
152,217
25,29835,406534,696

35,48035,48034,32434,324

189,657
70,210(5,977)
253,890827,825
1,578,976

203,037
70,639(5,876)
267,800
836,822
1,576,671

(Million yen)
As of March 31, 2013

As of June 30, 2013

LIABILITIESCurrent liabilities
Notes and trade payable
Short-term bank loans

249,567
47,296251,31344,880Current portion of bonds

50,76050,740Reserve for bonuses

16,004

5,791

Other

94,15690,945

Total current liabilities

457,784443,670

Bonds

102,800

102,595

Long-term debt

19,54819,570

Provision for retirement benefits

26,441

26,523Other

35,34535,670Total long-term liabilities

184,135

184,359

641,920

628,029

Common stock

114,464

114,464

Capital surplus

144,898

144,898

Retained earnings

722,057

718,805

Treasury stock(94,226)(94,234)

Total stockholders’ equity

887,193883,934

18,90827,0588(6)(12,986)(7,815)

5,930

19,235

16

16

Minority interests

43,91545,455TOTAL NET ASSETS

937,055

948,641

1,578,976

1,576,671

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, 2012
352,949

Three months ended
June 30, 2013
349,151

Cost of sales

293,326

282,515Gross profit

59,623

66,636

Selling, general and administrative expenses

57,06655,150Operating income

2,556

11,486

Non-operating income
Interest and dividend income
Equity in earnings of affiliates
OtherTotal non-operating income

2,058
56
1,475
3,589

2,135615
1,9294,680

Non-operating expense
Interest expense
Other
Total non-operating expenses

868
1,470
2,339

865
1,021
1,886

Ordinary income

3,807

14,279

63–
872

431
177
15
624

1,363
3,636
272
5,271

1,169
133
175
1,478

(1,392)

13,425

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

2,042
3,343
5,385
8,040
979
7,060

Net sales

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 evaluation of investment securities
Other
Total extraordinary losses
Income (loss) before income taxes and minority
interests
Current income taxes
Deferred income taxes
Total income 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 ofaffiliates 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, 2012

Three months ended
June 30, 2013

(3,494)8,040(3,213)

8,018

19
3,483

2
5,697

(4)

193

284
(3,210)13,912
21,952(3,991)

20,366781

1,586

(3) Notes regarding quarterly consolidated financial statements[Notes on premise of a going concern]
None[Significant changes in shareholders’ equity]
None[Segment information, etc.]
I. First three months of previous fiscal year (April 1, 2012 – June 30, 2012)
Information on sales and income/loss by reporting segment
Reporting segment
Information
Communication

Lifestyle andIndustrial
Supplies

Electronics

176,269

122,167

42,766Beverages

Total(Million yen)Amounts
reported onAdjustment
quarterly
Note 1
consolidated
statements ofNote 2
incomeNet salesOutside customers

11,746352,949–352,949

Inter-segment

1,312

5,150

00

6,463

(6,463)–Total177,582

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

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 quarterly consolidated
statements of income.

II. First three months of current fiscal year (April 1, 2013 – June 30, 2013)
Information on sales and income/loss by reporting segment
Reporting segment
Information
Communication

Lifestyle andIndustrialSupplies

Electronics

171,231

124,097

42,093

Beverages

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

11,729349,151–

349,151

Inter-segment

1,433

1,924

0

0

3,359

(3,359)–

Total

172,665

126,02142,094

11,730352,511(3,359)349,151

Segment income (loss)

3,742

7,614

2,782(424)

13,714(2,228)

11,486

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 quarterly consolidated
statements of income.

8