Consolidated Financial Results
for the First Six Months of the Fiscal Year Ending March 31, 2017 [J-GAAP]
November 10, 2016

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:+81-3-6735-0101
Securities report issuing date:November 11, 2016
Dividend payment date:
December 9, 2016
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 six months ended September 30, 2016
(April 1, 2016 – September 30, 2016)(1) Consolidated financial results(Percentages show change from corresponding year-ago period.)
Net Income
Attributable toOperating Income
Ordinary Income
Parent Company
Shareholders

Net Sales

Six months ended
September 30, 2016
Six months ended
September 30, 2015

Million yen%

Million yen%

Million yen%

Million yen%

697,492(3.5)

11,671(42.3)

14,392(42.4)

15,142(18.3)

722,933

1.0

20,235(9.7)

24,993(1.2)

18,541

22.3

Note: Comprehensive income: For the first six months ended September 30, 2016: ¥(8,130) million (–%)
For the first six months ended September 30, 2015: ¥1,942 million (-90.2%)
Diluted Net Income
per Share

Net Income per ShareSix months ended
September 30, 2016
Six months ended
September 30, 2015

Yen

Yen

24.37

24.37

29.15

28.97

(2) Consolidated financial position
Total Assets

Net Assets

Equity Ratio

Million yen

Million yen%

As of September 30, 2016

1,675,087

1,029,814

58.7

As of March 31, 2016

1,718,636

1,063,24159.2

Note: Stockholders’ equity: As of September 30, 2016: ¥983,580 million

As of March 31, 2016: ¥1,017,425 million

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

Year ended
March 31, 2016
Year ending
March 31, 2017

SecondQuarter-end

–

16.00

–

16.00

Third
Quarter-end–

Year-end

16.00

Year ending March 31, 2017–
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, 2017
(April 1, 2016 – March 31, 2017)(Percentages show change from corresponding year-ago period.)
Net Income
Attributable to
Net Income
Operating Income
Ordinary Income
Parent Company
per Share
Shareholders

Net Sales%Yen1,420,000 (2.5)
32,000 (29.6)
36,000 (31.6)
28,000 (16.6)
Note: Revisions to the most recently announced earnings forecasts during the current quarter: Yes

45.27

Full year

Million yen%

Million yen%

Million yen%

Million yen

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:Yes3) Changes in accounting estimates:
Yes
4) Restatement of revisions:No
Note: For further details, see the section titled, “2. Summary information (notes), Changes in accounting policies,changes in accounting estimates, and restatement of revisions,” on page 4.

(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 September 30,
2016663,480,693
shares

As of March 31, 2016

680,480,693
shares

As of September 30,
2016

48,156,154
shares

As of March 31, 2016

51,919,577
sharesSix months ended
September 30, 2016

621,259,241
sharesSix months ended
September 30, 2015

636,041,735
shares* Presentation 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 is underway 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 “1. Qualitative information on the consolidated results for the current quarter, (3) Explanation of theconsolidated 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. Summary information (notes) .............................................................................................. 4
Changes in accounting policies, changes in accounting estimates, andrestatement of revisions ................................................................................................ 4
3. Quarterly consolidated financial statements ..................................................................... 6(1) Quarterly consolidated balance sheets ........................................................................ 6(2) Quarterly consolidated statements of income and quarterly consolidated
statements of comprehensive income ......................................................................... 8
Quarterly consolidated statements of income
First six months of the fiscal years ........................................................................... 8
Quarterly consolidated statements of comprehensive income
First six months of the fiscal years ........................................................................... 9(3) Quarterly consolidated statements of cash flows ..................................................... 10(4) Notes regarding quarterly consolidated financial statements ................................. 12[Notes on premise of a going concern] ...................................................................... 12[Significant changes in shareholders’ equity] ........................................................... 12[Segment information, etc.].......................................................................................... 121

1. Qualitative information on the consolidated results for the current quarter(1) Explanation of the consolidated financial results
Japan’s economy started to show some signs of recovery during the first six months of the fiscal
year, aided by the economic and monetary policies of the Japanese government and Bank ofJapan and by improvement in the employment environment. However, the economy has still notreached a full-fledged recovery, due partly to a stronger yen, sluggish consumer spending, andoverseas economic slowdowns in China and elsewhere.
The printing industry still faced a tough business environment as a result of lower demand forprinted media, including published printed materials, and ongoing decline in order prices due tostiffer competition.
In this environment, the DNP Group (DNP), based on the DNP Group Vision 2015 and on thefour growth areas of “Knowledge and Communication,” “Food and Healthcare,” “Lifestyle andMobility,” and “Environment and Energy,” focused on creating new value through P&I innovation
as a combination of printing and information and worked to expand its business by making
upfront investment to develop new business and establish operating bases. It also sought toenhance competitiveness through structural reforms based on the reorganization andconsolidation of business divisions.
Despite these efforts, consolidated net sales for the first six months fell 3.5% year on year to¥697.4 billion, consolidated operating income fell 42.3% to ¥11.6 billion, consolidated ordinary
income fell 42.4% to ¥14.3 billion, and net income attributable to parent company shareholders
fell 18.3% to ¥15.1 billion.
Business segment results are presented below.
[PRINTING]
Information Communication
In the Publishing business, amid a continued slump in the publications market, book sales held
flat from last year as a result of sales and planning activities, but a decline in magazines had alarge impact, and Publishing & Media Services fell below year-ago levels. Meanwhile, in the
Education and Publications Distribution business, sales were firm in the “honto” hybrid
bookstore network that combines physical bookstores, online bookstores, and e-book sales
services; and library operations outsourcing sales increased from the previous year on growth in
the number of outsourcing libraries. However, overall sales decreased from the previous year.
In the Information Innovation business, sales were firm overall for point-of-purchasepromotional materials (POP) and other sales promotion-related tools, and for catalogs,
pamphlets, and other marketing materials. Sales were also favorable in information
security-related business, mainly smart cards for financial institutions and electronic money andInformation Processing Services (IPS; handling data entry, printing, and shipment of
personalized mail and other items). Overall sales increased from the previous year.
In the Imaging Communication business, DNP worked to expand services that use its“ShaGoo!” automated commemorative photo booths and “Ki-Re-i” ID photo booths, but sales
decreased from the previous year as the strong yen contributed to a decline in sales ofdye-sublimation thermal transfer printing media for photo printers (color ink ribbons and receiverpaper) in North America.
As a result of the above, overall segment sales fell 1.1% year on year to ¥396.1 billion, andoperating income fell 29.2% to ¥8.0 billion.
Lifestyle and Industrial Supplies
In the Packaging business, DNP focused on developing environmentally conscious products,
and sales increased from the previous year on firm sales of paper and film packaging andstrong sales of PET plastic bottle aseptic filling systems.
In the Living Space business, sales held flat year on year as DNP focused on expanding2

domestic sales and developing overseas markets, based mainly on environmentally conscious
products that use its proprietary electron beam (EB) coating technology. DNP changed thename of this business from Lifestyle Materials in July 2016, reflecting its aim to expand businessnot only for homes, but also for a variety of living spaces such as cars, trains, and other mobility
spaces, as well as commercial and public facilities.
In the Industrial Supplies business, sales of lithium-ion battery components increased forautomotive applications, but were sluggish for mobile device applications. Moreover,photovoltaic module components were affected by a domestic market slump, and sales
decreased from the previous year.
As a result of the above, overall segment sales grew 1.9% year on year to ¥193.2 billion andoperating income grew 39.0% to ¥7.0 billion.
Electronics
In the Display Components business, sales declined from the previous year as LCD color filters
decreased for both small- and medium-sized filters used in smartphones and tablets, and large
filters used in TVs. Optical film sales also declined across the board, and overall sales
decreased from the previous year.
In the Electronic Devices business, semiconductor photomasks fell below year-ago levels as
sales decreased both in Japan and overseas.
As a result of the above, overall segment sales fell 22.2% year on year to ¥83.8 billion andoperating income fell 51.5% to ¥5.9 billion.
[BEVERAGES]
Beverages
The soft drink industry continued to face tough market share competition, and DNP worked to
expand market share and acquire new customers by bolstering sales of core brand products
through the release of new products, and by focusing on the vending machine business byleveraging area marketing and operational expertise.
As a result of these efforts, sales increased for I LOHAS, a brand of mineral water that uses alightweight PET plastic bottle, and for tea drinks, including the mainstay Ayataka brand.
However, sales decreased to group bottlers outside the Hokkaido region and for the Coca-Colabrand and sports drinks. Overall segment sales fell 2.8% year on year to ¥26.9 billion, but
operating income rose 236.8% to ¥0.8 billion.
(2) Explanation of the consolidated financial position
Total assets at the end of the second quarter decreased by ¥43.5 billion from the end of theprevious fiscal year to ¥1,675.0 billion, due mainly to a decrease in investment securities.
Total liabilities decreased by ¥10.1 billion from the end of the previous fiscal year to ¥645.2
billion, due mainly to a decrease in short-term bank loans.
Net assets decreased by ¥33.4 billion from the end of the previous fiscal year to ¥1,029.8
billion, due mainly to a decrease in retained earnings.
As a result of the above, the equity ratio changed from 59.2% at the end of the previous fiscal
year to 58.7%.
Consolidated cash flow provided by operating activities during the first six months totaled ¥41.1
billion, due mainly to ¥23.5 billion in income before income taxes and non-controlling interestsand ¥30.0 billion in depreciation.
Cash flow provided by investing activities totaled ¥12.4 billion, due mainly to ¥46.1 billion inproceeds from sales of investment securities and ¥27.3 billion in payments for purchases ofproperty, plant and equipment. Cash flow used in financing activities totaled ¥40.7 billion, due
mainly to an ¥11.9 billion decrease in debt, ¥15.0 billion for payments for purchases of treasury
stock, and ¥10.3 billion in dividends paid.
As a result, cash and cash equivalents at the end of the second quarter totaled ¥184.0 billion,3

an increase of ¥8.5 billion from the end of the previous fiscal year.
(3) Explanation of the consolidated earnings forecasts
We have revised our earnings forecasts for the fiscal year ending March 2017, originallypublished on May 12, 2016. For details, see our release titled, “Revisions of Consolidated
Earnings Forecasts for the Fiscal Year Ending March 2017,” published on November 10, 2016.
2. Summary information (notes)
Changes in accounting policies, changes in accounting estimates, and restatement ofrevisions(Changes in accounting policies)(Application of Revised Implementation Guidance on Recoverability of Deferred Tax
Assets)DNP is applying the “Revised Implementation Guidance on Recoverability of Deferred Tax
Assets” (ASBJ Guidance No. 26, March 28, 2016), and revising some accounting methods
related to the recoverability of deferred tax assets, starting in the first quarter of the current fiscal
year.
DNP is applying the Revised Implementation Guidance on Recoverability of Deferred Tax
Assets in line with transitional measures stipulated in Paragraph 49 (4) of said guidance. Any
differences between the amounts of deferred tax assets and deferred tax liabilities when
applying the provisions in Paragraph 49 (3), Items 1–3, of said guidance at the start of the firstquarter of the current fiscal year, and the amounts of deferred tax assets and deferred tax
liabilities at the end of the previous fiscal year, are added to retained earnings at the start of thefirst quarter of the current fiscal year.
These changes have an immaterial impact on the quarterly financial statements at the startof the first quarter of the current fiscal year.
(Application of Practical Solution on a Change in Depreciation Method Due to Tax
Reform 2016)
DNP and some domestic consolidated subsidiaries, in line with amendment of the Corporation
Tax Act, are applying the “Practical Solution on a Change in Depreciation Method Due to Tax
Reform 2016” (ASBJ Practical Issue Task Force (PITF) No. 32, June 17, 2016), and arechanging the depreciation method for buildings and accompanying facilities as well as forstructures acquired on or after April 1, 2016 from declining balance depreciation to straight-line
depreciation, starting in the first quarter of the current fiscal year.
These changes have an immaterial impact on the quarterly financial statements for the firstsix months of the current fiscal year.
(Changes in accounting policies that are difficult to distinguish from changes inaccounting estimates)(Changes in depreciation method and service life)
DNP consolidated subsidiary Hokkaido Coca-Cola Bottling Co., Ltd. (hereinafter, HCCB) andthe consolidated subsidiaries of HCCB (hereinafter, HCCB Group) previously depreciatedtangible fixed assets mainly using declining balance depreciation, but are changing tostraight-line depreciation starting in the first quarter of the current fiscal year.
This change is based on a review of the current production structure and use of fixed assets,
and the medium- to long-term capital investment strategy, in order to respond to changes in themarket environment, including stiffer completion from the full-scale entrance of rival companies
and diversifying consumer needs.
The HCCB Group’s tangible fixed assets are expected to produce average and stable
investment effects over their service life based on long-term use and stable production.

4

Accordingly, the HCCB Group is changing its depreciation method for tangible fixed assets fromdeclining balance depreciation to straight-line depreciation starting in the first quarter of thecurrent fiscal year, based on a judgement that equal cost allocation over the usable period canbetter reflect the usage conditions of its tangible fixed assets, and from a revenue and expense
standpoint, can better reflect its business performance.
Additionally, HCCB had mainly applied a service life of 5–6 years to vending machines, but
because it is expanding the introduction of vending machines with greater durability, concurrent
with the change in depreciation method, it is changing to a nine-year service life to better reflect
actual conditions, starting in the first quarter of the current fiscal year.
Compared with the previous methods, the above changes increase operating income by¥652 million, and ordinary income and income before income taxes and non-controllinginterests by ¥654 million, in the first six months of the current fiscal year.

53. Quarterly consolidated financial statements(1) Quarterly consolidated balance sheets(Million yen)
As of March 31, 2016

As of September 30, 2016

ASSETS
Current assets
Cash and time deposits
Notes and trade receivables
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

6

171,694
348,585
101,239
29,68625,021
46,847(1,349)721,724

190,594
323,000
101,988
31,74523,68942,761(1,138)712,641

217,516
89,549155,532
14,94635,611
513,156

211,456
83,964
157,077
18,12434,863
505,486

35,80235,80235,73535,735

362,654
91,722(6,424)447,952
996,911
1,718,636

336,399
90,839(6,016)421,223
962,446
1,675,087

(Million yen)
As of March 31, 2016

As of September 30, 2016

LIABILITIESCurrent liabilities
Notes and trade payables
Short-term bank loans

255,585
55,316242,238
41,832

Reserve for bonuses

17,333

16,454–

24,424

Other

95,07887,573

Total current liabilities

423,313412,523

Bonds

107,560

107,185

Long-term debt

18,19019,652

Net defined benefit liability

34,16734,605

Deferred tax liabilities

48,884

48,599Other

23,27822,706

Total long-term liabilities

232,080

232,749

655,394645,273

Common stock

114,464

114,464

Capital surplus

144,283

144,283

Retained earnings

717,029695,568

Treasury stock(81,024)(69,476)

Total stockholders’ equity

894,752

884,840

Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Net deferred losses on hedges

123,478

111,635(6)(5)

Foreign currency translation adjustments

3,050(8,068)Remeasurements of defined benefit plans
Total accumulated other comprehensive
income(3,849)(4,821)

122,672

98,739Stock acquisition rights

16

16

Non-controlling interests

45,80046,217TOTAL NET ASSETS

1,063,241

1,029,814

TOTAL LIABILITIES AND NET ASSETS

1,718,636

1,675,087

Repair reserve

Long-term liabilities

TOTAL LIABILITIESNET ASSETSStockholders’ equity7(2) Quarterly consolidated statements of income and quarterly consolidated statementsof comprehensive income
Quarterly consolidated statements of income
First six months of the fiscal years(Million yen)Six months ended
September 30, 2015
722,933

Six months ended
September 30, 2016
697,492

Cost of sales

583,968

566,862

Gross profit

138,964

130,630

Selling, general and administrative expenses

118,728

118,958

Operating income

20,235

11,671

3,654
1,885
2,802
8,342

3,931
1,381
3,074
8,387

1,243
48
2,291
3,583

1,155
1,309
3,201
5,666

24,993

14,392

93
6,400
83
6,577

769
40,277
136
41,183

785
2,434
–
383
3,603

1,359
–
30,218484
32,062

27,96723,514

5,524
3,185
8,709
19,2578,419(1,875)
6,543
16,971716

1,828

18,541

15,142

Net sales

Non-operating income
Interest and dividend income
Equity in earnings of affiliates
Other
Total non-operating income
Non-operating expense
Interest expense
Foreign exchange transaction loss
Other
Total non-operating expenses
Ordinary income
Extraordinary gains
Gain on sale of fixed assets
Gain on sale of investment securities
Other
Total extraordinary gains
Extraordinary losses
Loss on sale or disposal of fixed assets
Production restructuring costs
Repair costs and repair reserve provisions
Other
Total extraordinary losses
Income before income taxes and non-controllinginterests
Current income taxes
Deferred income taxes
Total income taxes
Net income
Net income attributable to non-controllingshareholders
Net income attributable to parent company
shareholders

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

Net income
Other comprehensive income
Valuation difference on available-for-salesecurities
Net deferred gains on hedges
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Share of other comprehensive income ofaffiliates accounted for using equity method
Total other comprehensive income
Comprehensive income
Attributable to：Parent company shareholders
Non-controlling shareholders

9

Six months ended
September 30, 2015

Six months ended
September 30, 201619,257

16,971(14,741)(11,709)36(621)(4,149)7(10,899)
563

2,160

(3,064)(17,315)
1,942(25,101)(8,130)1,418
523(8,789)659

(3) Quarterly consolidated statements of cash flows(Million yen)Six months ended
September 30, 2015

Six months ended
September 30, 2016

27,96723,514

Net losses on sales or disposal of fixed assets
Repair costs
Repair reserve provisions
Decrease in trade receivables
Increase in inventories
Decrease in trade payables
Other

31,13613(10,309)201(1,885)794(3,654)
1,243(6,376)69719––
18,321(9,772)(4,146)74

30,078
(385)
149
(665)
(1,381)
1,157(3,931)
1,155(40,180)
94
619
5,793
24,42422,548(4,904)(9,985)
7,045

Sub-total
Payments for repair costs
Payments for extra retirement payments
Payment of income taxes

44,398–(16)(5,639)55,148(9,883)(104)(4,002)

38,742

41,158(1,249)(10,188)(28,196)(27,395)

1,283

3,122

(5,319)
7,601

(277)
46,170(8,981)–(4,240)4,050(2,980)(38,031)(6,073)
6,043
1,058
12,460Cash flows from operating activities
Income before income taxes and non-controllinginterests
Depreciation
Increase (Decrease) of doubtful receivables, net(Increase) Decrease of net defined benefit asset
Increase (Decrease) of net defined benefit liability
Equity in gains of affiliates
Amortization of consolidation goodwill, net
Interest and dividend income
Interest expense
Net gains on sales of investment securities
Net losses on devaluation of investment securities

Net cash provided by operating activities
Cash flows from investing activities
Net increase in time deposits
Payments for purchases of property, plant andequipment
Proceeds from sales of property, plant andequipment
Payments for purchases of investment securities
Proceeds from sales of investment securities
Payments for purchase of stock in subsidiaries
resulting in change in scope of consolidation
Payments for purchase of intangible fixed assets
Interest and dividends received
Other
Net cash provided by (used in) investing activities

10

(Million yen)

Cash flows from financing activities
Net decrease in short-term bank loans
Proceeds from long-term debt
Repayments of long-term debt
Payments for redemption of bonds
Payments for purchases of treasury stock
Payments for purchases of treasury stock ofsubsidiaries
Interest paid
Dividends paid
Dividends paid to non-controlling interests
Payments for purchase of stock in subsidiaries not
resulting in change in scope of consolidation
Other
Net cash 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 year
Cash and cash equivalents at end of period

11

Six months ended
September 30, 2015

Six months ended
September 30, 2016

(10,419)
21,930(23,859)(525)(20,036)(13,375)
6,380(4,940)(495)(15,016)(0)(0)(1,251)(10,313)(366)(1,168)(10,063)
(250)

(151)

–

(2,596)(1,806)(47,589)(40,735)

151(4,313)(46,727)8,569

212,762
166,035

175,513
184,082

(4) Notes regarding quarterly consolidated financial statements[Notes on premise of a going concern]
None[Significant changes in shareholders’ equity]
Treasury stock increased by ¥15,016 million during the first six months of the current fiscal year,
due mainly to share repurchases based on a resolution passed by the Board of Directors on
May 12, 2016.
Additionally, retained earnings decreased by ¥26,564 million and treasury stock decreasedby ¥26,564 million during the first six months of the current fiscal year due to the cancellation oftreasury stock on May 26, 2016 based on a resolution passed by the Board of Directors on May
12, 2016.
[Segment information, etc.]
I. First six months of previous fiscal year (April 1, 2015 – September 30, 2015)
Information on sales and income/loss by reporting segment
Reporting segment
Information
Communication

Lifestyle andIndustrial
Supplies

Electronics

Beverages

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

398,212

189,341

107,688

27,690722,933–

722,933

Inter-segment

2,525

381

6

18

2,930

(2,930)–Total

400,738

189,722

107,694

27,709725,863(2,930)722,933

Segment income

11,392

5,059

12,343266

29,062(8,826)

20,235

Notes: 1. Segment income 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 is adjusted to reflect operating income as reported on the quarterly consolidated
statements of income.

II. First six months of current fiscal year (April 1, 2016 – September 30, 2016)
1. Information on sales and income/loss by reporting segment
Reporting segment
Information
Communication

Lifestyle andIndustrial
Supplies

Electronics

Beverages

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

393,783

192,976

83,82826,904

697,492–

697,492

Inter-segment

2,383

285

–

25

2,694

(2,694)–

Total

396,166

193,262

83,82826,929700,187(2,694)

697,492

Segment income

8,071

7,033

5,991

897

21,994(10,322)

11,671

Notes: 1. Segment income 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 is adjusted to reflect operating income as reported on the quarterly consolidated
statements of income.

12

2. Changes in reportable business segments, etc.
(Changes in depreciation method and service life)
DNP consolidated subsidiary Hokkaido Coca-Cola Bottling Co., Ltd. and its consolidated
subsidiaries are changing the depreciation method and service life for tangible fixed assets startingin the first quarter of the current fiscal year, as noted in the section, “Changes in accounting policies
that are difficult to distinguish from changes in accounting estimates.”Compared with the previous methods, these changes increase Beverages segment income by¥652 million in the first six months of the current fiscal year.

13