November 9, 2012
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
Telephon +81 3 5604 7709
November 9, 2012
Yes
Yes (For institutional investors, analysts)

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

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

80,435
4,101
3,823
3,034

Six Months Ended
September 30, 2011

%
11.1
55.6
56.9
67.8

72,368
2,636
2,436
1,809

13.21
-

%
(4.0)
15.1
38.2
-

7.87
-

(Note) Comprehensive income:Second Quarter of FY Mar. 2013 ¥2,310 mil. (36.6%)

Second Quarter of FY Mar. 2012 ¥1,691 mil. (- %)B. Financial Position(Rounded down to millions of yen)

Total Assets
Net Assets
Shareholders’ Equity to Total Assets Ratio
Net Assets per Share (yen)September 30, 2012

March 31, 2012

176,975
60,15433.1%
255.34

172,554
58,18932.9%246.77(Ref) Shareholders’ equity:
Second Quarter of FY Mar. 2013 ¥58,665 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

Annual
1.50

-

3.00

3.00

FY ending March 2013 (forecast)(Note) Revision from the most recently announced dividend forecast : Yes

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)

AnnualNet sales%

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

153,000

5.3

5,500

30.0

4,800

23.1

3,200

17.3

13.93

(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
5 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)
Second 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
Second quarter of FY ending March 31, 2013
93,665 shares
FY ended March 31, 2012
89,379 shares
3) Average number of shares during the period (Quarterly cumulative period)
Second quarter of FY ending March 31, 2013
229,758,300 shares
Second quarter of FY ended March 31, 2012
229,773,157 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, and we have 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 4 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 ·············· 5(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 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) Quarterly Cash Flow Statement······················································································ 10(4) Notes regarding the Going Concern Assumption ···························································· 11(5) Segment Information······································································································ 11(6) Notes in case there is a substantial change in the amount of shareholders’ equity··········· 1131. Qualitative Information regarding quarterly consolidated financial results(1) Qualitative information concerning the status of consolidated financial results
During the second quarter consolidated cumulative period under review, while the Japanese economy
followed a pattern of gradual recovery mainly in capital investment and employment in the back of demand
related to restoration from the Great East Japan Earthquake and others, regarding the future, there is a concern
for negative impact on the global economy derived from issues of the public debt crisis on Europe.
Under these circumstances, the consolidated business performance of the ISEKI Group resulted as follows.
In the second quarter consolidated cumulative period under review, sales increased ¥8,066 million from thesame period of the previous year, to ¥80,435 million (up 11.1%). Domestic sales increased ¥8,383 million to¥69,444 million (up 13.7%). Overseas sales decreased ¥316 million to ¥10,990 million (down 2.8%).
Operating income increased ¥1,464 million to ¥4,101 million (up 55.6%) mainly due to increased gross income
by increased sales. Ordinary income increased ¥1,386 million to ¥3,823million (up 56.9%). Quarterly net
income increased ¥1,225 million to ¥3,034 million (up 67.8%).

Financial results by segments are as follows:
1) Agriculture related businessIn the domestic market, sales increased on the back of an improved income for farmers due to the firmly
established individual household income compensation system and recovery in the rice price. Demand related
to restoration from the Great East Japan Earthquake also played a significant factor. Overseas sales as a wholedecreased because of decreased orders received in the European market due to the recession. Sales in the
Chinese market which had been delayed due to a delayed announcement of the subsidy policy were recoveredin the 2nd quarter cumulative period to the level in line with the same period of the previous year.

The trend of sales by product is as follows.
(Domestic)
Sales of cultivating & mowing machinery (tractors, tillers, etc.) were ¥18,201 million (up 6.5% from thesame period of the previous year), and sales of planting machinery (rice transplanters, vegetable transplanters)
were ¥7,863 million (up 8.3%). Sales of harvesting and processing machinery (combine harvesters, etc.) were
¥7,676 million (up 20.1%). Sales of spare parts and farming implements were ¥16,555 million (up 5.7%). The
other agriculture related sales (construction of facilities, etc.) were ¥19,075 million (up 30.8%).
(Overseas)
Sales of cultivating & mowing machinery (tractors, etc.) were ¥5,285 million (down 14.8% from the same
period of the previous year), and sales of planting machinery (rice transplaters, etc.) were ¥4,190 million (up0.9%). Sales of harvesting and processing machinery (combine harvesters, etc.) were ¥489 million (up 265.4%).
Sales of spare parts and farming implements were ¥614 million (up 30.9%). The other agriculture related sales
were ¥410 million (up 19.1%).

As a result, the segment sales remained at ¥80,362 million (up 11.2%).

2) Other business4

As other business, we engage in development/sales/operation of computer software. This segment sales
stood at ¥72 million (down 7.9%).
(2) Qualitative information concerning the shifts in consolidated financial position
As of the end of the second quarter consolidated cumulative period, total assets increased ¥4,421 million
from the previous fiscal year end to ¥176,975 million. The main change was from a ¥1,716 million increase in
cash and deposits, a ¥7,637 million increase in notes and accounts receivable-trade and a ¥3,410 million
decrease in inventory assets. Total liabilities increased ¥2,456 million from the previous fiscal year end, mainly
as a result of a ¥748 million increase in notes and accounts payable-trade and a ¥1,667 million increase in
short-term and long-term loans payable. Net assets increased ¥1,964 from the previous fiscal year end mainly
due to quarterly net income of ¥3,034 million and decrease in valuation difference on available-for-salesecurities of ¥742 million.
(3) Qualitative information regarding consolidated performance forecast
With regard to the business performance and dividend forecasts for the fiscal year ending March 31, 2013
announced on May 11, 2012, we have made revisions. With respect to the matters concerning revisions of theforecasted figures, please refer to “Notice on occurrence of variance between forecasts of business performancefor the second quarter cumulative period of the fiscal year ending March 31, 2013 and actual results, andrevision of forecasts of business performance and revision of the dividend forecast for the fiscal year ending
March 31, 2013” announced today (November 9, 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 Sep.30, 2012)

7,052
28,70319
38,168
3,295
1,380
4,265
(45)
82,8408,769
36,34019
35,259
2,830
1,343
2,844
(60)
87,34914,96550,263
14,612
79,840981

14,90250,281
15,46380,646
951

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

4,514
3,938
(425)
8,027
89,626
176,975

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

FY2013(as at Sep. 30, 2012)

Notes and accounts payable-trade

43,66744,416

Short-term loans payable

17,17423,051

Current portion of bonds

-

100

8,147

4,762

Income taxes payable

803

973

Provision for bonuses

236

575

9,727

8,789

79,756

82,667100-

Long-term loans payable

16,653

15,828Deferred tax liabilities for land revaluation

6,644

6,644

Provision for retirement benefits

5,485

5,431

Provision for directors' retirement benefits

116

120

Asset retirement obligations

257

255

5,351

5,873

34,60834,152

114,364

116,820

Capital stock

23,344

23,344

Capital surplus

13,454

13,454Retained earnings

7,887

10,578Treasury stock

(22)

(23)

44,66447,353

265

(477)

3

-

11,816

11,816(51)(28)

12,034

11,311

1,490

1,489

Total Net Assets

58,18960,154

Total Liabilities and Net Assets

172,554

176,975

Liabilities
Current Liabilities:

Current portion of long-term loans payable

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
Second Quarter Consolidated Cumulative Period(millions of yen)
FY2012(Apr.1,2011-Sep.30, 2011)

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

Net sales

72,36880,435

Cost of sales

48,91655,132Gross profit

23,45125,302

Selling, general and administrative expenses

20,815

21,201

Operating income

2,636

4,101

Interest income

8067

Dividend income

124

96

Other

434

331

Total non-operating income

639

495

Interest expenses

394

374

Foreign exchange losses

175

159

Other

269

239

Total non-operating expenses

839

773

2,436

3,823

Gain on sales of noncurrent assets

26

9Compensation income

-

167

Other

1

-

Total extraordinary income

27

176

Loss on sales and retirement of noncurrent assets

52

61

Loss on valuation of investment securities

1

-

252

-

Loss on disaster-90

Cost of measures for product recall

6

36

Other

1

0

313

188

2,150

3,811

Income taxes-current

619

929

Income taxes-deferred

(266)

(163)

Total income taxes

352

765

Income before minority interests

1,797

3,045

Minority interests in income (loss)

(11)

10

Net income

1,809

3,034

Non-operating income

Non-operating expenses

Ordinary income
Extraordinary income

Extraordinary losses

Retirement benefit expenses

Total extraordinary losses
Income before income taxes

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

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

1,797

3,045

(116)

(754)

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

10

19

-

3

(106)

(734)

Comprehensive income

1,691

2,310

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

1,718

2,311

(27)

(1)

Income before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities9(3) Consolidated Quarterly Statements of Cash Flows(millions of yen)
Net Cash Provided by (Used in) Operating Activities:
Income before income taxes
Depreciation and amortization
Increase (decrease) in provision for retirement benefits
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sales of property, plant and equipment andintangible assets
Decrease(increase) in notes and accounts receivable-trade
Decrease(increase) in inventories
Increase(decrease) in notes and accounts payable-trade
Other
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Net Cash Provided by (Used in) Investment Activities:
Purchase of short-term investment securities
Proceeds from sales of short-term investment securities
Purchase of property, plant and equipment and intangible
assetsProceeds from sales of property, plant and equipment andintangible assets
Purchase of investment securities
Proceeds from sales of investment securities
Decrease (increase) in time deposits
Payments for investments in capital of subsidiaries andaffiliates
Other
Net cash provided by (used in) investment activities
Net Cash provided by (Used in) Financing Activities:
Increase (decrease) in short-term loans payable, net
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from sell and leaseback transactions
Repayments of lease obligations
Purchases of treasury stock
Cash dividends paid
Other
Net cash provided by (used in) financing activities
Effect of Exchange Rate Changes on Cash and Cash
Equivalents
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at beginning of period
Cash and Cash Equivalents at end of period

10

FY2012(Apr.1,2011-Sep.30, 2011)

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

2,150
2,915
221
(205)
394
(54)

3,811
2,649
(53)
(163)
374
(41)

26

52

(3,167)2,132(3,357)(1,033)
22
205
(396)
(484)
265
(387)

(7,637)
3,412
748
(306)
2,844
163
(376)
(763)
966
2,834

(19)
19

(19)
19

(2,419)(2,718)

126

34

(315)
6
(301)

(263)
(497)

(239)

-

43
(3,100)186(3,258)3,271
10,420(6,493)
407
(828)
(1)
(9)
(6,765)

5,873
1,850
(6,060)
1,119
(854)
(0)
(338)
(9)
1,579

67

63

3,345
5,585
8,931

1,219
6,952
8,171

(4) Notes regarding the Going Concern Assumption
There is no corresponding item.
(5) Segment Information
1. Second quarter consolidated cumulative period of the previous year (April 1, 2011 – September 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

72,28978

72,368-72,368

-

69

69

(69)

-

72,289
1,808

148
0

72,438
1,809

(34)
-

72,3681,809(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. Second quarter consolidated cumulative period under review (April 1, 2012 – September 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

80,36272

80,435-80,435

0

66

66

(66)

-

80,362
3,032

139
2

80,501
3,034

(66)
-

80,435
3,034(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.
(6) Note in case there is a substantial change in the amount of shareholders’ equity
There is no corresponding item.

11