Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Six Months Ended December 31, 2017
(Based on Japanese GAAP)
February 9, 2018
Company name:
Trust Tech Inc.
Stock exchange listing: Tokyo
Stock code:
Representative:

2154
URL http://www.trust-tech.jp/
President and Representative Director
Yutaka Nishida

Inquiries:Director, Senior Managing Corporate
Executive OfficerNoriyuki Murai

TEL

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

February 13, 2018
March 6, 2018

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
Yes

03-5777-7727(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended December 31, 2017 (from July 1, 2017 to December 31, 2017)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Six months ended December 31, 2017
29,676
45.0
2,210
69.2
2,201
71.5
1,312
80.7
Six months ended December 31, 2016
20,471
40.7
1,306
18.0
1,283
16.3
726
12.9
Note: Comprehensive income

Six months ended December 31, 2017

¥1,548 million [113.8%]

Six months ended December 31, 2016

¥723 million [12.7%]

Earnings per share

Diluted earnings per share

Yen
67.46
37.46

Six months ended December 31, 2017
Six months ended December 31, 2016

Yen
67.17
37.34

(2) Consolidated financial position
Total assets
As of December 31, 2017
As of June 30, 2017
Reference: Equity

Net assets

Millions of yen
25,595
16,805Equity ratio

Millions of yen
8,552
6,697

As of December 31, 2017:¥8,337 million

As of June 30, 2017:¥6,594 million

%
32.6
39.2

2. Cash dividends
Annual dividends per share

Year ended June 30, 2017
Year ending June 30, 2018

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––Yen
15.00
20.00

Yen–Yen
30.00

Yen
45.00

–35.0055.00

Year ending June 30, 2018 (Forecast)
Note: Revision of cash dividend forecast most recently announced: No1Total

3. Forecast of consolidated financial results for the year ending June 30, 2018 (from July 1, 2017 to June 30, 2018)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Full year64,500
49.9
4,350
35.1
4,350
36.5
2,690
39.8
135.70Note: Revision of consolidated financial results forecast most recently announced: No
The calculation of earnings per share in the forecast of consolidated financial results considers the issuance of new shares through third-partyallocation.
4. Notes(1) Changes in significant subsidiaries during the six months ended December 31, 2017(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2017

19,725,400 shares As of June 30, 201719,433,000 shares

Number of treasury shares at the end of the period
As of December 31, 2017532 shares As of June 30, 2017493 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended December 31, 2017

19,456,673 shares Six months ended December 31, 2016

19,389,587 shares* Quarterly financial results reports are not required to be subjected to quarterly reviews.
* Explanation of the appropriate use of earnings forecasts and other special notes
Earnings forecasts and other forward-looking statements stated in this document are based on information available to the Company and certain
assumptions that the Company considers to be reasonable. The actual results may differ materially from the forecasts due to various factors.

2(Thousands of yen)
As of June 30, 2017
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
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
Total non-current assets
Total assets
Liabilities
Current liabilities
Short-term loans payable
Current portion of bonds
Current portion of long-term loanspayable
Accrued expenses
Income taxes payable
Accrued consumption taxes
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term loans payable
Net defined benefit liability
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-forsale securities
Foreign currency translation adjustment
Total accumulated other comprehensive
incomeSubscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets

3

As of December 31, 2017

4,581,972
6,245,524
1,172,198
11,999,695

6,427,768
10,416,829
1,626,545△38,457
18,432,686

427,970

507,522

3,681,754
163,456
3,845,211
532,187
4,805,369
16,805,065

5,966,334
182,261
6,148,596
507,188
7,163,307
25,595,994

1,075,934
196,000

5,884,232
196,000

300,000

300,000

3,031,668
812,290742,448
600,943882,047
7,641,333

3,164,189
817,276
1,527,182
710,828
2,082,939
14,682,649

1,106,000
1,200,000
44,628116,0212,466,649
10,107,983

1,008,000
1,050,000
46,828
255,555
2,360,384
17,043,033

1,562,705
720,190
4,238,432△569
6,520,758

1,980,229
1,137,715
4,968,020△690
8,085,275

148

698

73,917

251,742

74,065

252,441

4,028
98,2306,697,082
16,805,065

47,403
167,8398,552,960
25,595,994

(Thousands of yen)Six months ended
December 31, 2016
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Subsidy income
Foreign exchange gains
Share of profit of entities accounted forusing equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Bond issuance cost
Share of loss of entities accounted forusing equity method
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Gain on reversal of subscription rights
to shares
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controllinginterests
Profit attributable to owners of parent

4

Six months ended
December 31, 2017

20,471,244
16,113,396
4,357,848
3,050,990
1,306,858

29,676,152
23,328,342
6,347,810
4,137,171
2,210,638

120
7,599
2,153

179
28,423
1,464-

2,090

1,306
11,1783,83935,998

11,79520,08338,342
-

2,197

-

171
34,2481,283,788

6,943
45,2852,201,350

179

-

171

11

350

1,853
1,864

3,476
3,476
1,280,662
371,282
167,063
538,346
742,316

3,985
3,985
2,199,229
655,198
184,870840,068
1,359,160

15,914

46,596

726,401

1,312,563

(Thousands of yen)Six months ended
December 31, 2016
ProfitOther comprehensive income
Valuation difference on available-forsale securities
Foreign currency translation adjustment
Share of other comprehensive income ofentities accounted for using equitymethod
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable toowners of parent
Comprehensive income attributable to noncontrolling interests

5

Six months ended
December 31, 2017

742,316

1,359,160

333

550

△19,846

187,460

1,190

992

△18,321723,994

189,0031,548,164

723,785

1,490,939

208

57,225