November 5, 2014

Consolidated Financial Results(Japanese Accounting Standards)
for the 2nd Quarter of FY 2014
Company name:
Stock exchange listing:Stock code:
URL:
Representive:
Contact:

UNITED, Inc.
Tokyo Stock Exchange2497

http://united.jp

Tomonori Hayakawa, CEO
Ryohei yamazaki, Director, Corporate Administration Division
Tel. +81-3-6821-0000
Scheduled date for filing of securities report:
November 6, 2014
Scheduled date of commencement of dividend payment:
December 4, 2014
Supplementary documents for quarterly results:
YES
Quarterly results briefing:
YES(For securities analyst and institutional investors)(Amounts of less than one million yen are rounded to the nearest million yen)

1.Consolidated Financial Results for the 2nd Quarter of FY 2014 (April 1, 2014 - September 30, 2014)(Percentages show year-on-year changes)(1) Consolidated Results of Operations (Accounting Total)
Net sales
Operating income
Ordinary income
Net income
Mil.¥
％
Mil.¥
％
Mil.¥
％
Mil.¥
％
2nd Quarter of FY 2014
3,961
45.4
157―
177―
116―
2nd Quarter of FY 2013
2,724
45.6
△ 38―
△ 25―
△ 45―
(Note)Comprehensive income:
244 million yen ( - %) for the 2nd Quarter of FY 2014
△48 million yen ( - %) for the 2nd Quarter of FY 2013
Diluted earnings
Earningsper shareper share
YenYen4.96
4.93
2nd Quarter of FY 2014
△ 2.04―
2nd Quarter of FY 2013
(2) Consolidated financial position
Total assets
Mil.¥
2nd Quarter of FY 2014
9,145
(As of September 30,2014)
Fiscal Year 2013
8,200
(As of March 31,2014)(Reference) Capital: September 30, 2014: 7,773 million yen

Net assets

Equity ratio

Mil.¥％

7,790

85.0

7,159

87.0

March 31, 2014: 7,137 million yen

2.Dividend per shareRecord date

End of 1st End of 2nd End of 3rdquarter
quarterquarter
Yen
Yen
Yen
―
0.00
――
1.00

End ofperiod
Yen
1.00

Annualdividend
Yen
1.00

Fiscal Year 2013
Fiscal Year 2014
Fiscal Year 2014―――
(expected)
Note: Revisions of the forecasts of consolidated results since the latest announcement: Yes
3.Consolidated ernings forecast for fiscal year ending March 2015 (April 1,2014 to March 31,2015)
The consolidated earnings forecast for this period has not been included due to difficulties conducting reasonable calculationsof the earnings forecast.

*Notes(1) Changes of important subsidiaries during the period(Changes of specific subsidiaries in accordance with changes in the scope of consolidation):None(2) Application of particular accounts procedures to the preparation of quarterly consolidated financial statement:None(3) Changes in accounting policies and changes or restatement of accounting estimates(i) Changes in accounting policies caused by revision of accounting standard:(ii) Changes in accounting policies other than (i):(iii) Changes in accounting estimates:(iv) Restatement:

None
None
None
None

(4) Number of shares outstanding (common stock):(i) Number of shares outstanding at end of period (including treasury stock)
As of September 30, 2014:
23,575,151 shares
As of March 31, 2014:
23,370,034 shares(ii) Number of treasury stock at end of period
As of September 30, 2014:
7,261 shares
As of March 31, 2014:
7,061 shares(iii) Average number of shares outstanding during the term
2nd Quarter of FY 2014:
23,502,768 shares
2nd Quarter of FY 2013:
22,485,840 shares*Status of a quarterly review- This financial summary does not need to undergo a quarterly review under the Financial Instruments an Exchange Act.
Procedures for a quarterly review of the consolidated financial statements are being followed at the time of
the announcement of this financial summary.
*Explanations and other special notes concerning the appropriate use of business performance forecasts- The forward-looking statements such as result forecasts included in this document are based on the information available to
the Company at the time of the announcement and on certain assumptions considered resonable, and the Company makes norepresentations as to their achievability. Actual results may differ materially from the forecast depending on a range of factors.
- We will hold a quarterly results briefing for institutional investors and analyst on November 6, 2014.
For material that are distributed in this briefing, it will be posted on our website.

UNTIED Consolidated Financial Statements(1)UNITED Consolidated Balance Sheets(Unit:Thousands of Yen)
Items of an account

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Operational investment securities
Inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Stocks of subsidiaries and affiliates
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Provision for point card certificates
Other
Total current liabilities
Non-current liabilities
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Subscription rights to shares
Minority interests
Total net assets
Total liabilities and net assets

FY2013(As of March 31,2014)

2nd Quarter of FY2014(As of September 30,2014)

AmountAmount

5,096,046
1,063,987
973,316
32,792
79,082-5,386
7,239,839

5,147,165
1,126,764
1,212,522
53,302
193,033-5,058
7,727,730

86,22180,415

3,424
120,960
124,385

6,552
121,478
128,031456,724
194,444
108,035-9,373749,830
960,437
8,200,276

915,827
195,731
113,475-15,684
1,209,349
1,417,796
9,145,526

654,441
100,000
530
37,25945,261
202,800
1,040,293

907,265
100,000―
23,01035,935
288,445
1,354,656

52
52
1,040,346

57
57
1,354,713

2,696,846
2,813,562
1,517,697-2,3107,025,796

2,903,507
3,020,223
1,610,942-2,721
7,531,951

110,968
1,135
112,104
21,687342
7,159,930
8,200,276

208,874
32,423
241,297
14,4063,156
7,790,812
9,145,526

(2)UNITED Consolidated Statements of Income

Items of an accountNet sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income (loss)
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share issuance cost
Other
Total non-operating expensesOrdinary income (loss)
Extraordinary income
Gain on reversal of subscription rights to shares
Gain on reversal of asset retirement obligations
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on liquidation of subsidiaries and associates
Office transfer expenses
Loss on valuation of investment securities
Impairment loss
Total extraordinary losses
Income (loss) before income taxes and minority interests
Income taxes - current
Total income taxes
Income (loss) before minority interests
Minority interests in income (loss)
Net income (loss)

2nd Quarter of FY2013(April 1,2013
to September 30,2013)
Amount(Unit:Thousands of Yen)
2nd Quarter of FY2014(April 1,2014
to September 30,2014)
Amount2,724,774
1,976,653
748,121786,634-38,512

3,961,549
2,959,443
1,002,105
844,549
157,555

1,941
0
8,685
3,631
14,2591,477
020,031
2,326
23,835

829
―
454
1,283
-25,537

740
1,353
1,887
3,981
177,409

―
8,000
8,000

53
―
53

3,071
―
2,689
2,998
9,975
18,733-36,271
12,987
12,987-49,258-3,364-45,8932,27237,695―――
39,968137,495
22,45822,458115,037-1,570116,607

(3)UNITED Consolidated Statements of Comprehensive Income

Items of an accountIncome (loss) before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of entities accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to minority interests

2nd Quarter of FY2013(April 1,2013
to September 30,2013)
Amount(Unit:Thousands of Yen)
2nd Quarter of FY2014(April 1,2014
to September 30,2014)
Amount-49,258

115,037

7,910―-7,499411-48,847

98,35331,287-429
129,211244,248-45,534-3,313242,660
1,588

(4)UNITED Consolidated statements of cash flows

Items of an accountNet cash provided by (used in) operating activities
Income (loss) before income taxes and minority interests
Depreciation
Impairment loss
Amortization of goodwill
Increase (decrease) in allowance for doubtful accountsIncrease (decrease) in provision for point card certificatesInterest and dividend income
Interest expenses
Share issuance cost
Share of (profit) loss of entities accounted for using equity method
Loss on liquidation of subsidiaries and associates
Gain on rebersal of asset retirement obligations
Decrease (increase) in notes and accounts receivable - trade
Decrease (increase) in investment securities for sale
Increase (decrease) in notes and accounts payable - trade
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Purchase of shares of subsidiaries and associates
Proceeds from sales of shares of subsidiaries and associates
Payments of loans receivableCollection of loans receivable
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Repayments of long-term loans payable
Proceeds from share issuance to minority shareholders
Proceeds from issuance of subscription rights to shares
Proceeds from exercise of subscription rights to share
Cash dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase (decrease) in cash and cash equivalents resulting from change of scope of consolidation
Cash and cash equivalents at end of period

2nd Quarter of FY2013(April 1,2013
to September 30,2013)
Amount(Unit:Thousands of Yen)
2nd Quarter of FY2014(April 1,2014
to September 30,2014)
Amount-36,271
32,816
9,975
1,792
1,092
-8,743-1,942829-8,685-8,000-201,463
11,315133,133
50,077-24,073
4,383-969-13,048-33,707

137,495
29,2091,238-327-9,326-1,477740
1,353-20,031
37,695-62,832-95,489
252,823-106,865
164,206
1,281-618-38,386
126,482-2,600,000
2,034,555-14,436-31,875-300,500-19,762
14,625-1,40010,935-907,857-3,600,000
2,600,000-2,638-23,555-459,090-3,263660-2,234-1,490,122

50,000-29,600
3,400
121,867-53,208-3,05989,3991,419-850,746
1,717,276-157,465
709,064-530
5,100
399,640-22,787-410
381,01233,746-948,881
2,496,046
1,547,165