November 13, 2017
Name of Listed Company: ISEKI & CO., LTD.
Stock Exchange Listings: Tokyo
Company Code:6310 (URL http://www.iseki.co.jp)
Representative: Title President
Name Eiichiro Kinoshita
Enquiries:
Title General Manager of Financial Department
Name Katsuhiro Osuga
Telephone: +81-3-5604-7671
Date of Submission of Quarterly Report:
November 13, 2017
Scheduled Date to Commence Dividend Payment:—
Supplementary Information for Quarterly Financial Results: Yes
Quarterly Financial Results Briefing:
Yes (for institutional investors and analysts)

Summary Announcement of Consolidated Financial Results
for the Nine Months Ended September 30, 2017 (Japanese GAAP)
I. Consolidated Financial Results for the Nine Months Ended September 30, 2017 (January 1, 2017－
September 30, 2017)
A. Consolidated Results of Operations (Cumulative Total)(Rounded down to a million yen, % indicates changes from the previous corresponding period)

Nine Months Ended
September 30, 2017
120,526
4,633
5,446
3,332

%

Nine Months Ended
September 30, 2016
118,437
2,765
1,610
711

%

Net Sales
1.8―
Operating Income
67.6―
Ordinary Income
238.2―
Profit Attributable to Owners of Parent
368.6―
Earnings per Share (yen)Basic147.54
31.48
Diluted147.2931.43
Note: Comprehensive income
Nine months ended September 30, 2017: ¥3,721 million [—%]
Nine months ended September 30, 2016: ¥(2,003) million [—%]* The Company has changed its balance sheet date from March 31 to December 31 since the fiscal year ended
December 31, 2015. Percentage changes for the nine months ended September 30, 2016 from the previous
corresponding period are not stated, as no consolidated financial statements were prepared for the nine months
ended September 30, 2015.
* The Company has consolidated shares of its common stock (one-for-ten share consolidation), effective July l, 2017.
The amounts stated for basic earnings per share and diluted earnings per share are calculated based on theassumption that shares of the common stock were consolidated at the beginning of the previous fiscal year.

B. Consolidated Financial Position(Rounded down to a million yen)

As of September 30, 2017

As of December 31, 2016

Total Assets
214,942
203,356
Net Assets
70,524
67,151
Shareholder’s Equity to Total Assets Ratio (%)
32.0
32.2
Net Assets per Share (yen)3,044.86
2,896.78
Reference: Shareholder’s equity
As of September 30, 2017: ¥68,780 million
As of December 31, 2016: ¥65,430 million* The Company has consolidated shares of its common stock (one-for-ten share consolidation), effective July l, 2017.
The amounts stated for net assets per share are calculated based on the assumption that shares of the common stock
were consolidated at the beginning of the previous fiscal year.
II. Dividends

1Q-endFY Ended December 31, 2016
FY Ending December 31, 2017
FY Ending December 31, 2017
(Forecast)

2Q-end——Dividend per Share (yen)3Q-endYear-end
—
—
1.50
—
—

Total
1.50

30.00

30.00

Note: Revision of the most recently announced dividend forecast: No* The Company has consolidated shares of its common stock (one-for-ten share consolidation), effective July 1,
2017. The amount stated for the year-end dividends per share for the fiscal year ending December 31, 2017
(Forecast) is determined in consideration of the effect of the said share consolidation. The year-end dividends per
share for the fiscal year ending December 31, 2017 (Forecast) not considering the share consolidation will be¥3.00. For details, please see the “Explanation on the proper use of financial results forecasts and other notes.”III. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2017 (January 1, 2017－
December 31, 2017)(Rounded down to a million yen, % indicates changes from the previous period)
Net Sales%

Operating
Income%Ordinary
Income%ProfitAttributableto Owners of
Parent%Earnings
per Share(yen)

160,500
4.8
4,000
62.0
4,100 150.6
2,900 237.8
128.36
Note: Revision of the most recently announced financial results forecast: No* The Company has consolidated shares of its common stock (one-for-ten share consolidation), effective July 1,
2017. The amount stated for earnings per share is calculated based on the assumption that shares of the common
stock were consolidated at the beginning of the current fiscal year. For details, please see the “Explanation on theproper use of financial results forecasts and other notes.”
Full Year* Notes
A. Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting
in changes in the scope of consolidation): No
New: — (), Exclusion: — ()
B. Adoption of special accounting treatment for preparing the quarterly consolidated financial statements: No
C. Changes in accounting policies, changes in accounting estimates and restatements
1) Changes in accounting policies due to the revision of accounting standards, etc.:
2) Any changes other than 1) above:3) Changes in accounting estimates:
4) Restatements:

No
No
No
No

D. Total number of shares issued (common stock)1) Total number of shares issued at the end of the period (including treasury shares):
As of September 30, 2017
22,984,993 shares
As of December 31, 2016
22,984,993 shares2) Total number of treasury shares at the end of the period:
As of September 30, 2017395,784 shares
As of December 31, 2016
397,612 shares
3) Average number of shares during the period (cumulative total):
Nine months ended September 30,
22,588,348 shares
2017
Nine months ended September 30,
22,588,259 shares
2016
The Company has consolidated shares of its common stock (one-for-ten share consolidation), effective
July l, 2017. The amounts stated for the total number of shares issued (common stock) are calculated
based on the assumption that shares of the common stock were consolidated at the beginning of theprevious fiscal year.
* These quarterly financial results are outside the scope of quarterly review procedures.
* Explanation on the proper use of financial results forecasts and other notes
The financial results forecasts and other forward-looking statements contained in this report are based on
information available to the Company on the date of this report’s release and certain preconditions that theCompany deems to be reasonable. Actual results, etc. may differ significantly from the forecasts, however, as aresult of various factors. For details on the preconditions on the financial results forecasts of the Company andnotes on the use of financial results forecasts, please see “1. Qualitative Information on Consolidated Financial
Results for the Period under Review” on page 2 of the Appendix.
(Dividends and financial results forecast after share consolidation)
The Company has consolidated shares of its common stock (one-for-ten share consolidation) and has revised
the number of shares constituting one unit of stock from 1,000 to 100, effective July l, 2017. The forecast of
dividends and consolidated financial results for the fiscal year ending December 31, 2017 calculated on apre-consolidation basis is as follows.
1. Dividend forecast for the fiscal year ending December 31, 2017
Dividends per share Year-end¥3.00
2. Consolidated financial results forecast for the fiscal year ending December 31, 2017
Earnings per share
Full year¥12.84

 Contents of Appendix
1. Qualitative Information on Consolidated Financial Results for the Period under Review ....................2(1) Explanation on Results of Operations ..............................................................................................2(2) Explanation on Financial Position ....................................................................................................2(3) Explanation on Consolidated Financial Results Forecasts andOther Forecast Information ..............................................................................................................3
2. Matters Concerning Summary Information (Notes)...............................................................................3(1) Changes in Significant Subsidiaries during the Period under Review .............................................3
3. Quarterly Consolidated Financial Statements and Principal Notes ........................................................4(1) Quarterly Consolidated Balance Sheets............................................................................................4(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements ofComprehensive Income ....................................................................................................................6(3) Notes to Quarterly Consolidated Financial Statements ....................................................................8(Notes to Going Concern Assumption) ............................................................................................8(Notes to Material Changes in Shareholders’ Equity) ......................................................................8-1-

1. Qualitative Information on Consolidated Financial Results for the Period under Review(1) Explanation on Results of Operations
During the nine months ended September 30, 2017, the Japanese economy remained on a moderate recovery trackbacked by recovery in corporate earnings and employment. In addition, the economy in Europe and the U.S.
recovered strongly, with signs of a pick-up in the Chinese economy buoyed by public investment, all contributing toan overall picture of modest recovery.
On the other hand, in the domestic agricultural environment, the market for agricultural machinery is bottoming
out and could potentially move into a recovery phase on the back of ongoing structural changes in the industry.
Under these circumstances, the ISEKI Group continued its initiatives to expand sales volume mainly by launching
new products and improving customer service in Japan, while working to strengthen its sales in its mainstay
overseas markets of North America, Europe, China and ASEAN. As a result, the Group’s consolidated financial
results are summarized as follows.
Net sales for the nine months ended September 30, 2017 were ¥120,526 million, an increase of ¥2,088 million(1.8%) year on year. Domestic sales in Japan were ¥94,334 million, an increase of ¥2,404 million (2.6%) year on
year, as a result of favorable sales of tractors and increased sales of farming implements, spare parts, repair fees andconstruction of facilities, while overall sales of agricultural machinery remained almost unchanged from the previous
fiscal year. Overseas sales were ¥26,191 million, a decrease of ¥315 million (1.2%) year on year. This was mainly
due to decreased sales in North America attributable to changes in business terms with an OEM partner.
Operating income was ¥4,633 million, an increase of ¥1,868 million (67.6%) year on year, as a result of ongoingcost reductions together with positive effects from improvements in the revenue-expenditure structure in domestic
direct dealers and improved revenue in the Indonesian business.
Ordinary income was ¥5,446 million, an increase of ¥3,836 million (238.2%) year on year, mainly due to an
upturn in the share of profit or loss of entities using equity method and a favorable turn in foreign exchange gains orlosses.
Profit attributable to owners of parent was ¥3,332 million, an increase of ¥2,621 million (368.6%) year on year,
mainly resulting from the lack of gain on sales of investment securities and loss on disaster recorded in the same
period of the previous fiscal year, as well as the penalty recorded in the period under review.
Sales by product are as follows.
[Domestic]
Sales of cultivating and mowing machinery (tractors, high-clearance multipurpose vehicles, among others) were
¥22,481 million (an increase of 5.4% year on year). Sales of planting machinery (rice transplanters and vegetabletransplanters) were ¥6,643 million (a decrease of 10.2% year on year). Sales of harvesting and processing machinery(combine harvesters, among others) were ¥13,882 million (a decrease of 2.8% year on year). Sales of farming
implements, spare parts and repair fees were ¥30,795 million (an increase of 3.8% year on year). Sales of otheragriculture-related business (construction of facilities, among others) were ¥20,531 million (an increase of 6.6% year
on year).
[Overseas]
Sales of cultivating and mowing machinery (tractors, among others) were ¥17,847 million (a decrease of 12.0%
year on year). Sales of planting machinery (rice transplanters, among others) were ¥3,328 million (an increase of
16.9% year on year). Sales of harvesting and processing machinery (combine harvesters, among others) were ¥1,692
million (an increase of 447.9% year on year). Sales of farming implements and spare parts were ¥2,033 million (anincrease of 27.7% year on year). Sales of other agriculture-related business were ¥1,289 million (a decrease of
12.8% year on year).
(2) Explanation on Financial Position
Total assets at the end of the third quarter ended September 30, 2017 increased by ¥11,585 million from the end of
the previous fiscal year to ¥214,942 million.
Current assets increased by ¥12,421 million, while non-current assets decreased by ¥835 million. This was mainly
due to a decrease of ¥5,389 million in cash and deposits, an increase of ¥11,847 million in notes and accounts
receivable - trade, and an increase of ¥5,981 million in inventories.
Total liabilities increased by ¥8,213 million from the end of the previous fiscal year to ¥144,418 million. This was
mainly due to an increase of ¥3,933 million in notes and accounts payable - trade and electronically recorded
obligations - operating, an increase of ¥5,698 million in short-term loans payable and long-term loans payable, and adecrease of ¥1,452 million in other current liabilities.
Net assets increased by ¥3,372 million from the end of the previous fiscal year to ¥70,524 million. This was
mainly due to ¥3,332 million of profit attributable to owners of parent and ¥338 million of dividends of surplus.

-2-(3) Explanation on Consolidated Financial Results Forecasts and Other Forecast Information
The consolidated financial results forecasts for the fiscal year ending December 31, 2017 announced on August 10,2017 have not been revised.
These financial results forecasts are calculated based on the exchange rates at ¥112 per U.S. dollar (unchanged)and ¥128 per euro (unchanged) for the second half of the fiscal year ending December 31, 2017.

2. Matters Concerning Summary Information (Notes)(1) Changes in Significant Subsidiaries during the Period under Review
Not applicable-3-3. Quarterly Consolidated Financial Statements and Principal Notes(1) Quarterly Consolidated Balance Sheets(Millions of yen)
As of December 31, 2016 As of September 30, 2017
AssetsCurrent assets
Cash and deposits

13,936

8,547

Notes and accounts receivable - trade

24,91136,758Merchandise and finished goods

42,031

47,611Work in process

6,073

6,481

Raw materials and supplies

1,211

1,204

Other

4,796

4,835

(26)

(84)

92,934105,355

Buildings and structures, net

23,572

24,287

Land

50,61950,721Other, net

22,27420,204

Total property, plant and equipment

96,466

95,214

1,062

1,028

Investment securities

6,319

6,645

Other

6,833

6,881

Allowance for doubtful accounts

(259)

(182)

Total investments and other assets

12,893

13,344110,422

109,587

203,356

214,942

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Intangible assets
Investments and other assets

Total non-current assets
Total assets-4-

(Millions of yen)
As of December 31, 2016 As of September 30, 2017
Liabilities
Current liabilities
Notes and accounts payable - trade30,28632,216

Electronically recorded obligations - operating
Short-term loans payable

12,135
24,695

14,13834,500Current portion of long-term loans payable

8,897

8,130

Income taxes payable

703

1,163

Provision for bonuses

407

806

Provision for loss on disaster

20

3

Other

12,30010,847

Total current liabilities

89,447

101,807

Non-current liabilities
Long-term loans payable

27,78824,448Deferred tax liabilities for land revaluation

5,790

5,790

Provision for directors’ retirement benefits

107

117

Net defined benefit liability
Asset retirement obligations

4,491
314

4,272
317

Other

8,265

7,664

Total non-current liabilities

46,75742,610Total liabilities

136,205

144,418

Net assets
Shareholders’ equity
Capital stock

23,344

23,344

Capital surplus

13,454

13,453Retained earnings

14,034

17,022

Treasury shares

(990)

(985)

49,842

52,834

1,227

1,474

6

(30)

12,686

12,692

798

985

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans

870

824

15,58815,9469180

Non-controlling interests
Total net assets

1,629
67,151

1,662
70,524

Total liabilities and net assets

203,356

214,942

Total accumulated other comprehensive income
Subscription rights to shares-5-(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive
IncomeQuarterly Consolidated Statements of Income
For the Nine Months Ended September 30, 2017
(Millions of yen)
Nine months ended
September 30, 2016

Nine months ended
September 30, 2017

Net sales

118,437

120,526

Cost of sales

83,846

84,529Gross profit

34,59035,996

Selling, general and administrative expenses

31,82531,362

Operating income

2,765

4,633

Non-operating income
Interest income

106

109

Dividend income

149

107

Foreign exchange gains―

92

Share of profit of entities accounted for using equity method―

384

Subsidy income

27

356

Other

680

574

Total non-operating income

963

1,624

Interest expenses

458

448

Foreign exchange losses

569―

Share of loss of entities accounted for using equity method

631

―

Other

457

363

2,118

811

1,610

5,446

Gain on sales of non-current assets

36

29

Gain on sales of investment securities

1,113

―

―

42

1,150

71

Loss on sales and retirement of non-current assets

94

128

Impairment loss

47

21

Loss on valuation of investment securities

―

30

1,120

―

―

427

Total extraordinary losses

1,263

607

Income before income taxes

1,497

4,910

Income taxes - current

1,271

1,522

Income taxes - deferred

(470)

21

Total income taxes

801

1,543

Profit696

3,366

Profit (loss) attributable to non-controlling interests

(14)

34

Profit attributable to owners of parent

711

3,332

Non-operating expenses

Total non-operating expenses
Ordinary income
Extraordinary income

Subsidy income
Total extraordinary income
Extraordinary losses

Loss on disaster
Penalty-6-

Quarterly Consolidated Statements of Comprehensive Income
For the Nine Months Ended September 30, 2017
(Millions of yen)
Nine months ended
September 30, 2016

Nine months ended
September 30, 2017

696

3,366

(2,029)251

Deferred gains or losses on hedges

(2)

(36)

Revaluation reserve for land284―

Foreign currency translation adjustment

(440)

144

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity method

228

(45)

(740)

41

(2,699)354(2,003)

3,721(1,978)

3,684

(24)

36

ProfitOther comprehensive income
Valuation difference on available-for-sale securities

Total other comprehensive income
Comprehensive income(Comprehensive income attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests-7-

(3) Notes to Quarterly Consolidated Financial Statements(Notes to Going Concern Assumption)
Not applicable(Notes to Material Changes in Shareholders’ Equity)
Not applicable-8-