Summary of Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending February 29, 2008
June 15, 2007

Company name: POINT INC.

Stock code: 2685

(URL: http://www.point.co.jp)

Listing: TSE 1st section

Representative:

Toshiaki Ishii, President and Representative Director

Contact:

Tsuyoshi Matsuda, Corporate Officer, General Manager of Administration Division

Tel: +81-3-3243-6011

1. Significant Accounting Policies in the Preparation of Quarterly Financial Information
1) Adoption of the simplified method for accounting:Yes
We have adopted the simplified method for booking allowance reserves and income taxes.
2) Changes to accounting methods in the most recent consolidated fiscal year:
None3) Changes in the scope of consolidation and application of the equity method:None
2. Consolidated Financial Results for the First Quarter ended May 31, 2007 (March 1, 2007 − May 31, 2007)(All amounts are rounded down to the nearest million yen)
(1) Consolidated Results of Operations
Net sales
Million yen

First quarter ended May 2007
First quarter ended May 2006
(Ref.) Year ended Feb. 2007

Operating income%

15,965
12,776
61,650Million yen

25.0
18.4

3,383
2,963
12,287

Net income
Million yen%

Ordinary income%Million yen

14.2
15.6%

3,413
2,963
12,32415.2
15.5

Net income per share

Diluted net income per share

YenYenFirst quarter ended May 2007
1,974
20.8
78.32
78.27
First quarter ended May 2006
1,634
13.7
64.01
63.55
(Ref.) Year ended Feb. 2007
6,877
270.25269.30Notes: 1. Average number of shares (consolidated):
May 2007:
25,211,933 shares,
May 2006:
25,542,329 shares,Feb. 2007:
25,448,458 shares
2. Percentages for net sales, operating income, ordinary income and net income represent year-on-year percentage change.

Qualitative Information Regarding Consolidated Results of Operations
Consolidated net sales in the first quarter of the fiscal year increased steadily to 15,965 million yen, up 25.0% over theyear-ago figure, as aggressive new store openings offset the impact of weak sales during periods of poor weather.
Existing-store sales were 98.6% of the year-ago level in Japan, but new stores contributed to higher sales in all brands.
Sales of “APART BY LOWRYS” and “LEPSIM LOWRYS FARM”, our new brands launched last year, increased
particularly significantly.
We opened 37 new stores domestically, bringing the total number of stores in Japan at the end of the first quarter to 399.
The gross margin improved 0.8% year-on-year as we strengthened sales at our outlet store “NINE BLOCKS” which sells
unsold merchandise from our various brand-name shops.
SG&A expenses increased 33.3% year-on-year to 7,119 million yen due to more aggressive advertising, earlier and more
systematic employee recruiting, and a year-on-year increase in new store openings.
Due to the above factors, operating income increased 14.2% year-on-year to 3,383 million yen, and ordinary income rose
15.2% to 3,413 million yen.

- 1 -(2) Consolidated Financial Position
Total assets

Net assets

Equity ratio

Million yen

Million yen%

As of May 31, 2007
32,094
20,646
As of May 31, 2006
27,07517,008
As of Feb. 28, 2007
34,377
19,547
Note: Number of shares outstanding (consolidated):May 31, 2007: 25,237,233 shares,
May 31, 2006: 25,458,991 shares,

Net assets per share
Yen

64.2
62.8
56.8
Feb. 28, 2007:816.90
668.08775.0025,190,433 shares

Consolidated Cash Flow Position

First quarter ended May 2007
First quarter ended May 2006
(Ref.) Year ended Feb. 2007

Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of the period

Million yen

Million yen

Million yen

Million yen(2,652)(2,662)
8,584

(668)
(827)
(2,140)(1,363)(1,467)(4,307)

12,322
9,915
17,009Qualitative Information Regarding Consolidated Financial Position
Assets totaled 32,094 million yen as of May 31, 2007, 5,019 million yen higher than one year earlier. Net asset rose 3,638
million yen to 20,646 million yen. As a result, equity ratio increased from 62.8% to 64.2%.
Cash flow position
Net cash used in operating activities totaled 2,652 million yen. The main factors include income before income taxes of
3,377 million yen, an increase in accounts receivable of 1,291 million yen, an increase in inventories of 815 million yen, adecrease in accounts payable of 1,113 million yen, and income taxes paid of 3,258 million yen.
Net cash used in investing activities totaled 668 million yen. It was mainly due to payment of 288 million yen for leasedeposits mostly for new stores.
Net cash used in financing activities totaled 1,363 million yen. It was mainly due to payment of 974 million yen for cash
dividends, and 500 million yen for redemption of corporate bonds.
As a result, cash and cash equivalents as of May 31, 2007 amounted 12,322 million yen, 4,686 million yen lower than at
February 28, 2007.
3. Consolidated Forecast for the Fiscal Year Ending February 29, 2008 (March 1, 2007 – February 29, 2008)
Point Inc. maintains its consolidated forecast for the first half and full year of fiscal year ending February 29, 2008 (releasedon April 5, 2007).

* Consolidated forecasts are based on judgments made in accordance with information available at the time this presentation wasprepared. Actual results may differ significantly from these forecasts for a number of factors.

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