Semiannual Report

For the 6 months ended April 30,

We will never give up.

2011コンテンツCONTENTS■ ■ ■ ミッションステートメント ■ ■ ■これまでの経験を生かし、日本の復興復旧に全力で取り組むとともに、成長の可能性を追求していきます。
カナモトは、
日本経済の発展とともに成長の軌跡を描いてまいりました。今日あるカナモトが、
インフラ整備と数々の災害復旧に、全力で駆けて抜けてきた証であります。
いま私たちが為すべきこと。
それは、東日本を襲ったかつてない大規模な震災にしっかりと向き合い、復旧復興のお手伝いを全力で行うことだと考えます。
もうひとつの使命、それは成長し続けること。中国という巨大市場での収益拡大、発展著しい新興国への進出など、海外事業も引き続き注力してまいります。
■ ■ ■ Mission Statement ■ ■ ■Working to speed Japan’s reconstruction and recovery to the best of our abilities and pursuing ourpotential for growth, by taking maximum advantage of our past experience.
Hand in hand with Japan’s economic development, Kanamoto has blazed its own path to growth. From the construction of
infrastructure to the provision of assistance for recovery from multiple disasters, Kanamoto as it exists today is proof that wehave come through by incessantly working to the best of our abilities.
What must we do now? The answer is clear: resolutely face the destruction delivered by the unprecedented, large-scale
earthquake that devastated eastern Japan, and assist the reconstruction and recovery effort with our total strength.
At the same time we have an additional mission, and that is to maintain our growth. We will continue to focus resources on
our overseas operations, expanding our earnings in the massive Chinese market and advancing into newly emerging markets
that exhibit remarkable development.

1

カナモトから皆様へ
Message from the President



連結財務ハイライト
Consolidated Financial Highlights

将来見通しの記述について
このレポートに記載されている株式会社カナモトの計画、戦略などのうち、過去の事実以外のものは将来の業績に関する見通しの記述であり、現在入手可能な情報に基づく仮定となっております。
こ
れら将来の見通しの記述は、既知のリスク、未知のリスクの不確か

第47期第2四半期事業報告書



連結財務諸表■本レポートに掲載されている貸借対照表・損益計算書は、現行

Report of Operating Results and Financial Position for the
Six Months ended April 30, 2011

■百万円未満の数字は切捨表示しています。

Consolidated Financial Statements

Forward-Looking Statements



トピックス
TOPICS

東日本大震災への対応について
Response to the Great East Japan Earthquake

グラフで見る5年間（連結）Performance at a Glance (Consolidated)

拠点ネットワーク
Branch Network

役員
Board of Directors



会社概要
Corporate Data

Statements included as part of the Kanamoto Co., Ltd.
plans and strategies described in this report, other thanstatements of actual past facts, are descriptions of theCompany's outlook concerning future operating results andare assumptions based on information currently available.
These descriptions of the future outlook contain known risks
and unidentified risks, as well as other uncertainty factors,
and the actual management performance and operating
results of Kanamoto Co., Ltd. may vary substantially from thedescriptions provided herein.
■For purposes of this report, the Balance Sheets andStatements of Income were created using financial dataprepared according to Japan’s Securities Report guidelines.
■Throughout this report, amounts of less than ¥1 million are
truncated except in the financial statements, where figuresof less than ¥1 million are rounded.

さ、その他の要因などを含み、株式会社カナモトの実際の経営成績・業績とは大きく異なる可能性があります。

Kanamoto Semiannual Report 2011の日本の会計制度に則り作成されたものです。

カナモトから皆様へ

Message from the President

このたびの東日本大震災により被災されました皆様には、心よりお見舞い申し上げますとともに、一日も早い復興をお祈りいた
します。
ここに、
２０１１年１０月期第2四半期における株式会社カナモトの活動状況をご報告し、今後の方針を申し述べます。
当期の日本経済は、新興国の景気拡大と先進国の景気刺激策
により、輸出に持ち直しの動きがあり、緩やかな上昇過程にありましたが、3月11日の東日本大震災以降、工場設備の被災によるサプライチェーンの寸断と強制節電のもたらす生産水準の低下に見舞われました。福島原発事故の終息見通しも立たず、混迷を続ける政治動向も消費者心理の悪化に輪をかけています。
当社では東日本大震災直後から、災害時応援協定を締結している自治体・公共機関からの要請に基づき、支援機材・物資の搬入を行い、以降も大量の建機・機材を被災地に投入し、復興の一翼を担っております。
東日本大震災後、当社の主要顧客である建設業においては、
瓦礫処理のみならず、鉄道・道路などの交通網回復の主役として大きな成果をあげ、今後も、復旧・復興の実動部隊として重要な役割を期待されております。
このような状況下、建設業の装備を一手に引き受けている建機レンタル業の果たすべき責務は重大であります。今後も重要な社会インフラとしての自覚を持って業務に取り組んでまいります。
また、中長期的な成長エンジンとして位置づけている海外事業については、引き続き中国事業の拡大に注力し、中国本土・香港での旺盛な需要を的確に取り込み、収益拡大に努めます。
株主の皆様におかれましては、当社へ従前に変わらぬご支援を賜りますよう、
お願い申し上げます。
株式会社カナモト 代表取締役社長

On behalf of Kanamoto, I’d like to express our sincere and heartfelt sympathies to everyone who suffered a loss from the disaster
caused by the Great East Japan Earthquake, and offer our prayers
for a quick recovery.
I am pleased to have this opportunity to report on the activities ofKanamoto Co., Ltd. during the second quarter of the Business Period
ending October 31, 2011 and discuss our policies for the future.
During this period, exports exhibited a recovery trend and Japan’s
economy entered a gradual expansionary phase that was driven by
economic growth in newly developing countries and the economic
stimulus measures enacted by advanced nations. Following theGreat East Japan Earthquake on March 11, however, the economy
was battered by a plunge in production levels that was caused bydisruptions in the supply chain and compulsory electric power blackouts resulting from damage to power station facilities. The deterioration in consumer sentiment was further compounded by the lackof a speciﬁc ﬁnal outlook for the Fukushima nuclear power station
accident, and a political climate that remains unsettled.
Immediately following the Great East Japan Earthquake, Kanamotodelivered support equipment and materials to the stricken area
based on requests from municipal governments and public entities
that had concluded agreements with Kanamoto for assistance in theevent of a disaster. We subsequently have moved large amounts ofconstruction equipment and materials to the disaster area, where weare playing an active role in the recovery effort.
In the wake of the Great East Japan Earthquake the constructionindustry, the leading customer for Kanamoto’s services, has achieved
signiﬁcant results not only in clearing away debris but also as a linchpin for restoration of transportation links, including railways androads, and is expected to fulﬁll a vital role in the future as a workhorse
for restoration and recovery.
Given these circumstances, the construction equipment rental industry has an important obligation to exclusively supply the equipment
required by the construction industry. In the months ahead, we will
pursue our activities with a reinvigorated awareness of our role as avital cornerstone of society’s infrastructure.
With regard to our overseas operations, which we have positioned asa medium to long-term growth engine, we will continue to focus on
the expansion of our China business and seek to expand earnings
by precisely addressing the vigorous demand in mainland China andHong Kong.
We look forward to continuing to receive your unwavering supportand encouragement for the Kanamoto Group in the future.

Kanchu Kanamoto, President and Chief Executive Ofﬁcer

Kanamoto Semiannual Report 20112

連結財務ハイライト Consolidated Financial Highlights

千ドル

百万円

Thousands of U.S.
dollars (Note)

Millions of yen

April 30, 2010

April 30, 2011

April 30, 2011¥37,142¥35,309$430,183

連結経営成績

Consolidated operating results

売上高

Rental revenues and sales of goods

営業利益

Operating income

3,195

1,724

21,011

経常利益

Ordinary income

2,924

1,408

17,157

特別損失

Extraordinary losses

173

1,013

12,351

四半期純利益Net income

1,515

49

600

ROE

自己資本利益率

3.9%

0.1%

連結財政状態

Consolidated financial position

総資産

Total assets

107,860

111,959

1,364,029

純資産

Shareholders’ equity

38,12537,079451,750

自己資本比率Shareholders’ equity ratio

34.8%

1 株当たり純資産（円）Shareholders’ equity per share (yen)32.6%

1,143.19

1,112.19

13.55

連結キャッシュ・フローの状況

Consolidated cash flows

営業活動によるキャッシュ・フローCash flow from operating activities

5,575

5,623

68,507

投資活動によるキャッシュ・フローCash flow from investing activities

729

-701

-8,544

財務活動によるキャッシュ・フローCash flow from financing activities

1,346-3,035-36,987

現金及び現金同等物の四半期末残高

Balance of cash and equivalents at end of the period

21,925

22,638275,807

1株当たり情報

Information per share of common stock

四半期純利益第2四半期末配当金

円

ドル

Yen

U.S. dollars (Note)

April 30, 2010

April 30, 2011

April 30, 2011

Net income¥46.15

¥1.50

$0.01

Dividends per share

10.00

10.00

0.12

＊表示されている米ドル金額は、2011年4月28日現在のおおよその実勢為替レート1ドル＝82.08円により換算しています。

Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥82.08=US $1, the approximate exchange rate on April 28, 2011.




3'09Kanamoto Semiannual Report 2011

'07

'08

'09

'10

'11

700

793
-222

'07

'08

'09

1,408

2,924
2,083

4,416
3,422


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
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Ordinary Income

2,833
2,028

1,724
1,440

3,195
2,648
921

'11



経常利益

137

'10



2,918
2,227

35,309'08

37,142'07

32,590

37,236



36,230



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

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

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

Operating Income

3,438
4,236

63,863

予想値/Projected 単位：百万円/Unit : Millions of yen

営業利益67,160

通期/Full year

70,173

Revenues
69,411

売上高

68,626

第2四半期（中間）/Interim Period

'10

'11

財務トピックス
売上高

営業利益、 経常利益

国内建設投資の減少により、建機レンタルも激しい業者間競合が各地で広がり、収益確保に苦戦を強いられたこともあり、売上高は前年同四半期比4.9％減となりました。

震災対応を考慮して中古建機売却を一部順延したことによる収益減少の影響から、営業利益は同46.0％減、経常利益は同51.8％減でした。

特別損失

四半期純利益東日本大震災の発生により、被災した営業所建物等の社有資産の滅失・修理で１８２百万円、レンタル用資産（建機等）の滅失・修理で５２５百万円、復旧支援費用で１７百万円の計７２４百万円を災害による損失として計上しております。

震災の影響を受けた営業所建物やレンタル用資産（建機等）の一部
が罹災、この罹災相当額を損失計上したことから前年同期比96.7％減と大きく後退する結果となりました。

Financial Topics
Revenues

Operating income and ordinary income

Revenues were affected by severe competition among ﬁrms for construction equipment rentals, which further spread to various regions
and resulted from a drop in domestic construction investment, andthe intense struggle to secure rentals, which caused revenues to slip
4.9% compared with the same period one year earlier.

Operating income fell 46.0% year-on-year, and ordinary income
decreased 51.8% compared with the same period one year earlier.
This reﬂected the impact of lower earnings from a partial postponement of used construction equipment sales, in light of the need tore-direct equipment to earthquake recovery efforts.

Extraordinary losses

Net income

The Company reported a total of ¥724 million as disaster-related
losses. This included losses and repairs of ¥182 million for company-owned assets such as branch ofﬁce buildings and structures plus
losses and repairs of ¥525 million for rental equipment (construction
equipment etc.) that were damaged by the Great East Japan Earthquake, and restoration support costs of ¥17 million.

Some of the Company’s branch office buildings and rental assets(construction equipment etc.) were damaged or destroyed by theearthquake disaster, and the Company recorded an amount equivalent to this damage as a loss. As a result, net income retreatedsharply, declining 96.7% compared with the interim period of theprior consolidated ﬁscal year.

38,12537,02537,07936,918111,959
107,897

107,860
108,50997,78496,43590,867
85,155'08

37,82236,541'11

40,53638,202

49
210

'10

40,40039,973

'09

'07

'09

'10

'11



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



'08


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

'07

Shareholders’ Equity



1,515
1,041

-143
-1,158644

1,476

純資産

Total Assets
2,382
3,035


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
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総資産

Net Income

91,75591,741

四半期（当期）純利益

'07

'08

'09

'10

'11

Kanamoto Semiannual Report 20114

第47期第2四半期事業報告書 [2010（平成22）年11月1日から2011（平成23）年4月30日まで]［経営環境］

儀なくされたことなどが、直接的な減収要因となりました。
また、

当社グループの第２四半期の日本経済は、安定した海外景気

一方で災害復旧の初期対応と電力不足対応による需要増な動向と外需主導による大手企業の好業績から、消費刺激策やどの増収要因もありました。

新たな景気浮揚策がない状況が続いたものの、地方経済に広これら増収、減収要因が複雑に絡み合う経営環境の中、
グ

がる閉塞感とは裏腹に、
総じて楽観的な景況感が漂いました。

ループ内の事業分野や企業間の垣根を越えた協力体制を構

しかし、３月11日の東日本大震災の発生により、その様相も一築してきた効果も表われ、当社グループ全体のシェアを維持で変し、一気に緊迫感に包まれました。震災対応へのスピード感きたことと、
レンタル需給改善に伴う価格是正も手伝って、売や情報の透明さが疑問視され、世界的に経済面の影響が懸念

上高は当初予想を僅かに上回る353億９百万円（前年同期比されるなど日本の将来に翳りを落とすこととなりました。

4.9％減）となりました。

当社グループが属するサービス産業や建設業界にあっては、期一方、利益面は、震災対応を考慮して中古建機売却を一部順

初の予想のとおり経済対策効果剥落による地方経済の悪化

延したことによる収益減少の影響により、営業利益は17億24が顕著でありました。
また、震災後は、
民間ベースでは相応の進百万円（同 46.0％減）、経常利益は14億８百万円（同51.8％展を見せたものの、官民一体となった復興方針、体制がなかな

減）となりました。

か整わず、震災復旧作業は遅々として進まないことから先行き

また、純利益は、被災地域における営業所の建物や同地域の展望が見通せない状況が続きました。

で運用中のレンタル用資産（建機等）の一部が罹災、
この罹［第２四半期の累計連結業績］（同96.7％減）と大きく減少する結果となりました。

災相当額を被災による損失として計上したことから、49百万円
当社グループの業績と経営環境につきましては、
６月１日付の業績予想の修正発表のとおり、国内建設投資の減少により、［セグメントの業績］

建機レンタルも激しい業者間競合が各地で広がり、収益確保

建設関連事業に苦戦を強いられました。当社グループでは、グループ企業が一

国内の建機レンタルは、昨年来の工事量減少に伴い全国的体となって提案型営業などを積極的に展開し、また、国交省のに価格競争がこれまで以上に激化して消耗戦の様相を呈し推進する情報化施工や新型省エネ機を増強するなど建機レンました。同事業分野におけるレンタル売上高は前年同期比

タル資産の構成の見直し・適正化を図り、収益を維持すべく努

5.9％減となりました。地域別にみると、北海道地区は経済対めました。

策関連工事の終焉と地方経済の減速により官民ともに需要収入に関しては、当該期間半ばまでは建設需要の低迷から当減少が著しい環境が続きましたが、圧倒的なシェアを維持する

初想定していたとおり減収基調で推移いたしました。

ことで第１四半期よりも持ち直し、前年同期比24.9％減となり

また、震災発生以降も、一部地区で災害の影響による建設工ました。一方、東北地区は大型プロジェクト工事需要に復旧需事の中断があったこと、立ち入り禁止区域内の営業停止を余要が加わり同7.7％増、関東地区は特殊建機が低迷したもの■連結経営成績■連結セグメント別売上高
46期第2四半期

47期第2四半期

売上高

37,142（14.0）

35,309 （△4.9）

営業利益

3,195
（246.8）

経常利益

2,924
（268.4）

四半期純利益1,515（−）

46期第2四半期

47期第2四半期

建設関連事業

34,654（15.4）

32,169（△7.2）

1,724（△46.0）

鉄鋼関連事業2,129（△8.9）−

1,408（△51.8）

情報通信関連・その他事業

358（57.8）−49（△96.7）

単位：百万円 括弧内は対前年同四半期増減率（％）※

その他の事業合計−
37,142（14.0）

3,140（26.2）
35,309（△4.9）

単位：百万円 括弧内は対前年同四半期増減率（％）※当期より会計基準の適用により、鉄鋼関連事業、
情報通信関連事業・その他事業を、その他の事業として表示しております。

5

Kanamoto Semiannual Report 2011

■連結セグメント別売上高および売上比率

建設関連事業 91.1%
32,169百万円 （対前年同期比 7.2%減）

売上高35,309百万円

8.9%

その他の事業

3,140百万円 （対前年同期比26.2%増）の、民需の回復と復旧需要・電源需要で伸長して同2.6％増、

その他の事業

震災の影響がなかった近畿中部地区では民間設備投資に牽

北海道で展開する鉄鋼関連事業については、鋼材市況は震引され同5.4％増、
九州沖縄地区はこれまでの官需に加えて新災により不足感も手伝って、引き続き高止まりが続きましたが、燃岳対策需要もあって同7.1％増となりました。

道内需要は一服し、当第２四半期連結累計期間の売上高対また、同事業分野における販売売上高は、復旧復興需要に対前年同期比は29.3％増となりました。一方、情報通信関連事

応すべく海外向け中古建機売却の一部を順延したことが影響

業はパソコンレンタルの新規開拓が奏功し同7.6％増となりまし

し対前年同期比23.6％減となりました。

た。

一方、海外につきましては、業績に占める割合は些少であります

以上の結果、
その他の事業の当第２四半期連結累計期間のが、上海金和源グループ（上海金和源設備租賃有限公司、上売上高は31億40百万円、営業利益は14百万円となりました。

海金和源建設工程有限公司）
は、上海以外にも天津、武漢、南京、寧波など着々と営業エリアを広げましたが、上海万博特［特記すべき事業展開と拠点新設・閉鎖の状況］

需のあった前年実績との差が大きく、その減少を補えませんでし

当社の当第２四半期連結会計期間における国内拠点の新た。

設・閉鎖は、新設０、閉鎖１で、詳細は以下のとおりです。

これらの結果、建設関連事業の当第２四半期連結累計期間● 閉鎖：幕別機械センター（北海道中川郡幕別町）の売上高は321億69百万円、営業利益は16億17百万円となりました。

■通期（2011年10月期）連結業績予想
前回発表予想数値（2010年12月8日発表）

47期通期予想

今後の見通し、通期業績予想について

売 上 高

67,160（△8.9）

67,160 （△8.9）

営業利益

1,440
（△45.6）

1,440（△45.6）

経常利益

700
（△66.4）700（△66.4）

四半期純利益210（△79.8）210（△79.8）

震災以降、東北、関東の被災地での建機レンタル需要は極めて旺盛であること、レンタル料も需給バランス改善から好転していることもあり、下期は相応の収益効果を得られるものと予想されます。
しかしながら、一方で全体的な需要規模、需要時期など未だ流動的な側面もあることも事実であるため、通期業績予想につきまして
は、昨年12月に公表いたしました予想数値を据え置いております。

単位：百万円 括弧内は対前期増減率（％）※同じ数値が記載されているのは、
右記のとおり、
昨年12月8日公表の予想数値を据え置いているためです。

Kanamoto Semiannual Report 20116

連結財務諸表

連結貸借対照表（単位：百万円）

第46期
第2四半期末

第46期末

第47期
第2四半期末（2010.4.30）（2010.10.31）（2011.4.30）

資産の部
流動資産

第46期末

第47期
第2四半期末（2010.4.30）（2010.10.31）（2011.4.30）

41,39045,70040,422

負債の部
38,83238,38839,383

流動負債

現金及び預金20,684

20,486

22,373

支払手形及び買掛金

12,447

13,076

14,124

受取手形及び売掛金

14,081

14,987

14,177

短期借入金

9,701

13,415

6,075

有価証券

1,350

350

350

10,461

9,529

10,541

未成工事支出金

16

37

19

1年内返済予定の長期借入金

商品及び製品

699

606

701

22

22

22

原材料及び貯蔵品

159

161

166

1年内償還予定の
社債

1,010

1,187

1,198

リース債務

−

859

787

繰延税金資産

456

360

314

未払法人税等

1,613

1,106

493

その他

813

585

470

賞与引当金

619

589

619

関係会社整理
損失引当金

94

ー

ー

建設機材

貸倒引当金
固定資産
有形固定資産

△438

△372

△387

69,02870,12072,576

63,67564,341

66,208

レンタル用資産61,26362,487

66,233

減価償却累計額△36,490△36,740△38,307

レンタル用資産(純額)

24,77325,74627,926

建物及び構築物

20,83320,75420,854

減価償却累計額△12,599△12,855△13,183

建物及び構築物
（純額）

8,234

7,899

7,671

5,201

5,136

5,122

減価償却累計額△4,375△4,386△4,428

825

749

693

29,54529,68929,688

8

ー

ー

1,347

1,332

1,378

△1,058△1,076△1,150288

255

無形固定資産

768

650

のれん

446

その他

土地
建設仮勘定
その他

災害損失引当金
未払金
その他
固定負債
社債
長期借入金

−

ー

461

4,495

5,587

6,001

1,933

1,514

1,295

28,34425,78334,45733

22

11

17,527

13,762

20,528

−

1,903

1,868

退職給付引当金

1,390

1,341

1,428

役員退職慰労引当金

239

205

201

7,324

8,493

10,218

−

ー

150

リース債務

長期未払金

機械装置及び運搬具

機械装置及び運搬具（純額）

資産除去債務
その他
負債合計

1,829

55

50

69,73571,48474,87937,22336,42036,141

純資産の部
株主資本
資本金

9,696

9,696

9,696

資本剰余金

10,96010,96010,960228

利益剰余金16,59015,78815,509

525

自己株式

△24

△24

△25

345

252

評価・換算差額等

314

107

376

321

304

273

投資その他の資産

4,584

5,129

5,842

その他有価証券
評価差額金

333

147

414

投資有価証券

2,343

2,768

3,612

為替換算調整勘定

△18

△40

△38

繰延税金資産

1,028

1,186

1,109

少数株主持分

587

497

561

減価償却累計額
その他
（純額）

その他

2,154

2,081

2,034

純資産合計

38,12537,02537,079

貸倒引当金

△892

△827

△830

負債純資産合計

107,860

108,509111,959

投資損失引当金

資産合計

7（単位：百万円）

第46期
第2四半期末

△50

△80

△84

107,860

108,509111,959

Kanamoto Semiannual Report 2011

連結損益計算書（単位：百万円）

売上高

連結キャッシュ・フロー計算書
第46期第2四半期（2009.11.1〜
2010.4.30）

第46期（2009.11.1〜
2010.10.31）

第47期第2四半期（2010.11.1〜
2011.4.30）（単位：百万円）

第46期第2四半期
第46期
第47期第2四半期（2009.11.1〜 （2009.11.1〜 （2010.11.1〜
2010.4.30）
2010.10.31）
2011.4.30）

営業活動によるキャッシュ・フロー

37,142

70,17335,309

売上原価

25,14449,855

24,819

売上総利益

11,99820,318

10,489のれん償却額8,802

17,6698,765

固定資産除売却損益
（△は益）

3,195

2,648

1,724

営業外収益

223

444

153

受取利息

8

15

5

受取配当金

11

41

14

投資有価証券売却損益
（△は益）

受取保険金

63

96

9

貸倒引当金の増減額（△は減少）

受取賃貸料

26

39

26

受取報奨金

1

23

4

退職給付引当金の増減額（△は減少）

負ののれん償却額

34

69

34

役員退職慰労引当金の増減額（△は減少）

その他

77

158

56

営業外費用

494

1,010

469

支払利息

362

764

365

手形売却損

26

45

22

たな卸資産の増減額（△は増加）
仕入債務の増減額（△は減少）

販売費及び一般管理費
営業利益

その他
経常利益
特別利益

税金等調整前四半期純利益
減価償却費

少額レンタル用資産割賦購入額
建設機材売却に伴う原価振替額
レンタル用資産売却に伴う原価振替額
レンタル用資産取得による支出
投資有価証券評価損益（△は益）

投資損失引当金の増減額（△は減少）
賞与引当金の増減額（△は減少）

関係会社整理損失引当金の増減額（△は減少）
受取利息及び受取配当金
レンタル用資産割賦購入支払利息
支払利息
売上債権の増減額（△は増加）

106

200

81

2,924

2,083

1,408

291

396

46

未払金の増減額（△は減少）
その他

資産除去債務会計基準の適用に伴う影響額
災害損失

固定資産売却益−10ー

投資有価証券売却益

153

153

ー

貸倒引当金戻入額

52

57

2

補助金収入

77

164

32

その他

7

10

10

定期預金の預入による支出

特別損失

173

317

1,013

定期預金の払戻による収入固定資産除売却損

38

104

85

投資有価証券評価損

4

27

104

無形固定資産の取得による支出

貸倒引当金繰入額

35

35

ー

投資有価証券の取得による支出

関係会社整理損失
引当金繰入額94

81

ー

子会社株式の取得による支出

投資損失引当金繰入額

−

30

4

貸付けによる支出

資産除去債務会計基準の適用に伴う影響額

−

ー

95

その他

災害による損失

−

ー

724

その他

0

37

0

長期借入れによる収入

3,042

2,162

440

社債の償還による支出

税金等調整前四半期
純利益

利息及び配当金の受取額
利息の支払額
法人税等の支払額
投資活動によるキャッシュ・フロー

有形固定資産の取得による支出
有形固定資産の売却による収入

投資有価証券の売却による収入
子会社の設立による支出
貸付金の回収による収入
財務活動によるキャッシュ・フロー
短期借入金の純増減額（△は減少）
長期借入金の返済による支出
割賦債務の返済による支出

法人税、住民税及び
事業税

1,561

1,171

451

法人税等調整額

△73

△17

△52

少数株主損益調整
前四半期純利益−ー

41

少数株主利益又は少数株主損失
（△）

38

△33

△7

1,515

1,041

49

四半期純利益小計

リース債務の返済による支出
自己株式の取得による支出
配当金の支払額
少数株主への配当金の支払額
少数株主からの払込みによる収入
その他
現金及び現金同等物に係る換算差額
現金及び現金同等物の増減額（△は減少）
現金及び現金同等物の期首残高
非連結子会社との合併に伴う現金及び現金同等物の増加額
新規連結に伴う現金及び現金同等物の増加額
現金及び現金同等物の四半期末残高

5,575
3,042
3,684
92
33
−
0
413
△2,052
4
△153
△91
−
145
70
12
94
△20
89
362
683
△12
△1,195
−
−
90
426
5,721
20
△412
246
729
△50
0
△75
13
△28
△14
773
△12
−
△62
59
126
1,346
7,536
2,008
△5,567△31△2,077
−
△0
△327
−
−
△194
2
7,654
14,086

9,088
2,162
7,766
202
93
17
11
804
△2,462
27
△153
△220
30
115
21
△20
ー
△57
179
764
△267
55
△551
ー
ー
490
757
9,767
59
△869
131
101
△85
59
△265
60
△47
△538
775
△12
ー
△84
160
80
△2,737
11,332
2,609△10,804△42△4,382
△790
△1
△657
△1
ー
ー
△23
6,429
14,086

5,623
440
4,308
93
77
28
2
368
△1,243
104
ー
17
ー
30
86
△4
ー
△20
87
365
816
△81
1,102
95
724
△141
△202
7,056
20
△388
△1,065
△701
ー
ー
△169
10
△4
△437
ー
△41
△22
△97
31
30
△3,0354,654
1,130△5,374△11△2,603
△580
△0
△327
ー
68
10
1
1,887
20,751

−

50

ー

185

185

ー

21,92520,751

22,638

Kanamoto Semiannual Report 20118

Changes in accounting principles, procedures and presentation methods
pertaining to preparation of the consolidated financial statements.

a) Beginning from this consolidated accounting fiscal
year, the Company has adopted the “AccountingStandard for Quarterly Financial Reporting” and the“Guidance on Accounting Standard for Quarterly
Financial Reporting”. In addition, the quarterly
consolidated financial report has been prepared inaccordance with the “Regulation for Quarterly
Consolidated Financial Statements.”

Changes in accounting standards used for normal
accounting treatment
Application of accounting standards for leasetransactions (Lessee side)
The Company traditionally accounted for finance leasetransactions other than leases that transfer ownership of theproperty by applying accounting treatment based on the method
applied for ordinary rental transactions. For quarterly consolidatedb) Changes in appraisal standards and appraisal
methods for principal assets Inventory assets

financial statements pertaining to the consolidated fiscal year that

Beginning from the first quarter of the consolidated accounting

to apply the “Accounting Standard for Lease Transactions” andfiscal year ended October 31, 2009, the Company will apply thethe “Guidance on Accounting Standard for Lease Transactions”,“Accounting Standard for Measurement of Inventories” and will

and beginning from the first quarter of the consolidated accounting

value inventories based on the original cost method, with costfiscal year ended October 31, 2009, the Company will apply thesebeing determined mainly by the Last-in, First-out method (amounts

standards and account for such transactions using a method

shown on Balance Sheets will the reduced book value based on

similar to that used for ordinary sale and purchase transactions.

decline in profitability).

In addition, for depreciation of lease assets related to finance

The affect of this change on earnings is not material.

lease transactions other than leases that transfer ownership of the

begins on or after April 1, 2008, however, corporations will be able

property, the Company has adopted the straight-line depreciation

Construction equipment

method, using the term of the lease as the depreciable life and a

Traditionally, the Company and its domestic consolidated

residual value of zero.

subsidiaries valued construction equipment using the amount after

For finance lease transactions other than leases that transfer

deduction of depreciation expense as calculated according to theownership of the property for which the lease transaction starting

declining-balance method from the original prices, by separate

date predates the beginning of the first year in which the leasefiscal year of purchase. Beginning from the first quarter of theaccounting standard will be applied, the Company will continue toconsolidated accounting fiscal year ended October 31, 2009, theapply the accounting practices based on the method for ordinaryCompany will calculate the amount after deduction of depreciation

rental transactions.

expense as calculated according to the straight-line method from

The affect of this change on earnings is not material.

the original prices, by separate fiscal year of purchase.
As a result, the cost of revenues from operations decreased by¥34 million, and gross profit, operating income, ordinary income

Change in depreciation methods for principal
depreciable assets (Tangible fixed assets)

and income before taxes and adjustments increased by the same

Traditionally, the Company and its domestic consolidated

amount, respectively, compared to what they otherwise would

subsidiaries have applied the declining balance method forhave been had the accounting standards used in past periods

depreciation of rental equipment. Beginning from the first quarter

been applied.

of the consolidated accounting fiscal year ended October 31,
2009, the Company and its domestic subsidiaries have adopted
the straight-line depreciation method.
As a result, the cost of revenues from operations decreasedby ¥1,129 million, and gross profit, operating income, ordinary
income and income before taxes and adjustments increased by
the same amount, respectively, compared to what they otherwise
would have been had the accounting standards used in past
periods been applied.

9

Kanamoto Semiannual Report 2011

Report of Operating Results and Financial Position for the Six Months ended April 30, 2011
(November 1. 2010 - April 30, 2011)< Management Environment >< Interim Period Consolidated Operating Results >Despite the continuing lack of both a consumption stimulus

As noted in the revised operating results projection dated

plan and new economic stimulus measures, and in sharp

June 1, the Kanamoto Group’s operating results and man-contrast to a sense of stagnation spreading through regional

agement environment were affected by the severe competi-

economies, an optimistic business mood prevailed for Ja-

tion among firms for construction equipment rentals be-

pan’s economy as a whole during the Kanamoto Group’s

cause of a drop in domestic construction investment, which

second quarter because of the strong positive earnings atfurther spread to various regions, and the intense struggle

major companies generated by stable overseas economic

to secure earnings. The Kanamoto Group is working totrends and external demand.

maintain revenues by aggressively developing proposal-

Such optimistic sentiment, however, was also shatteredbased selling that encompasses all of the Group’s firms, andabruptly by the Great East Japan Earthquake that occurredworking to review and optimize the composition of its con-on March 11, and was quickly replaced by a sense of ur-

struction equipment rental asset portfolio through various

gency. As doubts about the pace of Japan’s response to themeasures, including computerized project execution being

earthquake and lack of information transparency increased,promoted by the Ministry of Land, Infrastructure and Trans-

and fears concerning the influence on the global economy

port and the addition of new energy-saving equipment.

mounted, the results cast a long shadow over Japan’s fu-

Because of the slump in construction demand, earnings

ture.

through the second quarter of the consolidated fiscal year

In the service and construction industries in which theunder review fluctuated with a generally negative trend as

Kanamoto Group operates, the deterioration of regional

initially anticipated.

economies as the effects of economic measures faded

In addition, conditions after the earthquake as well led

was as striking as projected at the beginning of the period.

directly to a decline in revenues and earnings, including

Moreover, despite the reasonable level of effort that was evi-interruptions of construction work in some regions as a con-dent from the private sector following the earthquake, res-sequence of the disaster and the necessary suspension of

toration measures and systems that combined government

operations in areas where entry has been restricted. At theand citizens’ effort remained in disarray, and as earthquake

same time, however, there also were factors that boosted

recovery efforts failed to make headway, conditions thatrevenues, including increased demand because of the initial

prevented a clear view of the future prevailed.

disaster recovery efforts and electricity shortages.

Consolidated Operating Results(Millions of yen, Percentages show the change from prior year)

Fiscal Year Ended October 31, 2010
:Second Quarter

Fiscal Year Ending October 31, 2011
:Second Quarter

Revenues

37,14214.0%

35,309-4.9%Operating income

3,195

246.8%

1,724-46.0%

Ordinary income

2,924

268.4%

1,408-51.8%Net income

1,515

–

49

-96.7%

Divisional Sales (Consolidated)(Millions of yen, Percentages show the change from prior year)

Fiscal Year Ended October 31, 2010
:Second Quarter

Fiscal Year Ending October 31, 2011
:Second Quarter

Construction Equipment Rental Business

34,65415.4%

32,169-7.2%

Steel Product Sales Business

2,129

-8.9%

–

–

Computing Product and Other Businesses

358

57.8%

–

–

Other Businesses

–

–

3,140

26.2%

37,14214.0%

35,309

-4.9%

Total

Kanamoto Semiannual Report 201110

Report of Operating Results and Financial Position for the Six Months ended April 30, 2011
(November 1. 2010 - April 30, 2010)

Given such a management environment and complexly

resembled a war of attrition, as price competition through-intermingled factors leading to both higher and lower rev-

out Japan further intensified, hand-in-hand with the sharpenues and earnings, results from having created coopera-

contraction in the volume of work since last year. Rental

tive relationships across the Group’s business sectors andrevenues in this business sector were 5.9% lower than inamong Group firms were evident as well, and the Kanamoto

the same period one year earlier. By region compared withGroup was able to maintain its overall market share and ad-

the same period of the prior consolidated fiscal year, anjust its pricing in conjunction with the improvement in rental

environment marked by a sharp decline in both public andsupply and demand. As a result, revenues slipped 4.9%

private sector demand continued as construction works

compared with the same period one year earlier to ¥35,309

related to economic measures came to an end in the Hok-million.

kaido Region and economic activity slowed in other regions.

From an earnings perspective, on the other hand, operat-

By maintaining its overwhelming market share, however, theing income fell 46.0% year-on-year to ¥1,724 million anddrop in earnings was held to 24.9%, an improvement of 6.4

ordinary income decreased 51.8% compared with the same

points over the steeper year-on-year decline in revenues wit-

period one year earlier to ¥1,408 million. This reflected thenessed in the first quarter. In contrast, in the Tohoku Region

impact of lower earnings from the partial postponement ofrental revenue rose 7.7% year-on-year as recovery demandused construction equipment sales in light of the need to

was added to demand for large-scale project construction

direct equipment to earthquake recovery efforts.

works, while rental revenue in the Kanto Region increased

Moreover, some of the Company’s branch office buildings

2.6% compared with the same period of the prior consoli-

and structures and rental assets (construction equipment

dated fiscal year, despite sluggish demand for specializedetc.) in the disaster-stricken region were damaged or de-construction equipment, thanks to growth in private sector

stroyed, and the Company recorded an amount equivalentdemand as well as disaster recovery demand and power

to this damage as the loss. As a result, net income for the

supply demand. In the Kinki & Chubu Region, which wasinterim period retreated sharply, declining 96.7% compared

not influenced by the earthquake, rental revenue increased

with the interim period of the prior consolidated fiscal year

5.4% over the same period one year earlier, driven by pri-to ¥49 million.

vate sector capital investment, and in the Kyushu & Okina-

Operating results by segment are reported below (In ad-

wa Region, new demand from countermeasures at Mountdition, beginning from the interim period under review, theShinmoe was added to outstanding public sector demandCompany has partially revised its reporting method in con-

to push rental revenues up 7.1% year-on-year.

junction with a change reporting standards for settlement of

Revenues from equipment sales in this business sector

accounts bulletins.

were off 23.6% compared with the same period of the previous consolidated fiscal year. Despite greater stocking andsale of regular construction equipment, these revenues were

< Segment Information >affected by a decision to postpone some overseas used

Business related to the Construction Equipment Rental Division

construction equipment sales and utilize the equipment toIn some respects, domestic construction equipment rentals

meet reconstruction and recovery demand.

Projected Consolidated Operating Results for the Fiscal Year Ending October 2011
Prior projection(Dec 8, 2010)(Millions of yen, Percentages show the change from prior year)

11

Revenues

67,160-8.9%

Operating income

1,440-45.6%

Ordinary income

700-66.4%Net income

210-79.8%

Kanamoto Semiannual Report 2011

Divisional Sales and Sales Ratio (Consolidated)(Millions of yen, Percentages show the change from prior year)

Revenues

35,309millions of yen

Construction Equipment
Rental Business

91.1%

32,169 (-7.2%)
8.9%

Other Businesses

3,140 (26.2%)
Although currently accounting for only a small proportion of

insufficient supply because of the earthquake. Demand in

Kanamoto’s operating results, in China the Shanghai Jin-

Hokkaido, however, experienced a lull. As a result, for the

heyuan Group (Shanghai Jinheyuan Equipment Rental Co.,

interim period under review revenues climbed 29.3% com-

Ltd. and Shanghai Jinheyuan Engineering Construction Co.,

pared with the same period of the prior consolidated fiscalLtd.) steadily expanded its market area to Tianjin, Wuhan,

year. In Kanamoto’s information and telecommunications-Nanjing, Ningbo and other cities, in addition to Shanghai.

related division, on the other hand, new business develop-

The difference in demand compared with the previous year’s

ment efforts were successful and personal computer rental

results, however, which were boosted by special procure-income rose 7.6% year-on-year.

ment for the Shanghai Expo, was great and the expansion

As a result of these factors, for the interim consolidated pe-

into new cities could not offset the decrease.

riod under review revenues were ¥3,140 million, and operat-

As a result of these factors, in the construction-related busi-

ing income was ¥1.4 million.

nesses of the entire Kanamoto Group, revenues for theinterim period of the consolidated fiscal year were ¥32,169
million and operating income was ¥1,617 million.

< Business Development Issues Deserving Special
Mention and Status of Branch Office Changes >During the second quarter consolidated period, Kanamoto

Other Businesses

did not establish any new branches and closed one domes-

In the steel products sales business the Company is devel-

tic branch. Details are provided bellow.

oping in Hokkaido, conditions in the steel materials market

Closed: Makubetsu Equipment Center (Makubetsu-cho,remained strong, aided somewhat by the general sense of

Nakagawa-gun, Hokkaido)

Future outlook, projected full-year operating results
Since the earthquake, construction equipment rental demand in the stricken areas in Tohoku and Kanto is extremely vigorous,
while rental fees have risen as well because of the improved supply and demand balance, and the Company expects to see acommensurate bottom-line effect during the second half of the fiscal year. At the same time, however, it is also true that the overall
scale and timing of demand remain in a state of flux, and the Company has maintained its full-year projected operating results values
at the level announced in December 2010.

Kanamoto Semiannual Report 201112

Consolidated Financial Statements

Interim Consolidated Balance Sheets
Thousands of U.S.
dollars (Note)

Millions of yen
April 30, 2010
(Unaudited)

October 31, 2010

April 30, 2011
(Unaudited)

April 30, 2011

¥20,684
1,350
14,081
699
159
456
1,842
(439)
38,832¥20,486
350
14,987
606
161
361
1,810
(373)
38,388¥22,373350
14,177
701
166
314
1,688
(387)
39,382$272,579
4,264
172,727
8,545
2,022
3,827
20,571(4,719)479,816

58,27020,833
6,548(54,213)
31,43829,5462,683
963,67662,487
20,7556,470(55,060)
34,652
29,689−−64,341

66,233
20,855
6,502(57,070)
36,52029,689−−66,209806,938
254,078
79,210(695,299)
444,927
361,703−−806,630

134
2,210
1,029
2,873
(893)
5,353
¥107,861

117
2,651
1,187
2,652
(827)
5,780
¥108,509

181
3,432
1,110
2,476
(830)
6,369
¥111,960

2,205
41,807
13,52330,163(10,115)
77,583$1,364,029

Liabilities and Shareholders' equity
Current liabilities:
Short-term bank loans
Current portion of long-term debt
Current portion of lease obligations
Notes and accounts payables, trade
Accounts payable, otherAccrued income taxes
Accrued bonuses
Reserve for loss on disaster
Other current liabilities
Total current liabilities¥9,702
10,744−
12,447
4,235
1,614
620
−
2,028
41,390¥13,416
13,619860
13,077
1,519
1,106
589
−
1,515
45,701¥6,076
15,492788
14,124
1,073
494
619
461
1,296
40,423$74,020
188,744
9,597
172,080
13,073
6,015
7,546
5,617
15,787492,479

Non-current liabilities:
Long-term debt
Lease obligations
Account payable, other
Reserve for retirement benefits
Asset retirement obligations
Other liabilities
Total non-current liabilities

24,612
−
273
1,391
−
2,069
28,345

21,842
1,903
436
1,341
−
261
25,78330,445
1,868
312
1,428
151
252
34,456

370,918
22,762
3,808
17,401
1,835
3,075
419,799

9,697
10,961
16,590
(25)
334
(19)
588
38,126¥107,861

9,697
10,961
15,788
(25)
147
(41)
498
37,025¥108,509

9,697
10,961
15,509
(25)
415
(38)
562
37,081¥111,960

118,137
133,539
188,952
(310)
5,054
(465)
6,844
451,751$1,364,029

AssetsCurrent assets:
Cash and deposits
Marketable securities
Notes and accounts receivable, trade
Merchandise inventories and products
Raw material and supplies
Deferred income taxes
Other current assets
Less: Allowance for doubtful accounts
Total current assets
Property and equipment
Rental equipment
Buildings and structures
Machinery and equipment
Less: Accumulated depreciation
Land
Lease assets
Construction in progress
Total property and equipment
Investment and other assets:
Investment securities:
Unconsolidated subsidiaries and affiliates
OthersDeferred income taxes
Other assets
Less: Allowance for doubtful accounts
Total investments and other assets
Total assets

Shareholders' equity
Common stock
Capital surplus
Retained earnings
Treasury stock
Unrealized holding gain on securities
Foreign currency translation adjustments
Minority interests
Total shareholders' equity
Total liabilities and shareholders' equity

Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥82.08=US$1, the approximate exchange rate on April 28, 2011.

13

Kanamoto Semiannual Report 2011

Interim Consolidated Statements of Income
Thousands of U.S.
dollar (Note)

Millions of yen
Prior fiscal year interim Prior fiscal year period(From November 1,
period2009 to October 31,(From November 1,
2010)
2009 to April 30, 2010)

Current fiscal year
Current fiscal year
interim periodinterim period(From November 1,(From November 1,
2010 to April 30, 2011) 2010 to April 30, 2011)

Revenue
Rentals¥26,096¥47,659¥24,599$299,692

Sales

11,04722,514

10,711

130,491

37,14370,17335,310430,183

Rentals

17,19033,257

16,554

201,679

Sales

7,955

16,598

8,266

100,706

25,14549,85524,820302,385

Gross profit

11,99820,318

10,490127,798

Selling, general and administrative expenses

8,802

17,6698,765

106,786

Operating income

3,196

2,649

1,725

21,012

Cost of sales

Other income (expense):
Interest and dividend income

20

58

20

243

(362)

(765)

(365)

(4,448)Loss on devaluation of investment securities

(4)

(28)

(104)

(1,268)Loss on disaster

−

−

(725)

(8,832)

192

248

(110)

(1,336)

3,042

2,162

441

5,371

Current

1,561

1,171

452

5,502

Deferred

(73)

(17)

(53)

(642)

1,488

1,154

399

4,860

Interest expenses

Other, net
Income before income taxes and minority interests
Income taxes:

Minority interests
Net income

38

(34)

(7)

(91)

¥1,516¥1,042¥49$602
Thousands of U.S.
dollar (Note)

Yen
Prior fiscal year interim Prior fiscal year period
period(From November 1,(From November 1,
2009 to October 31,
2009 to April 30, 2010)2010)

Current fiscal year
Current fiscal year
interim periodinterim period(From November 1,(From November 1,
2010 to April 30, 2011) 2010 to April 30, 2011)

Per share of common stock
Net income
Basic¥46.15¥31.73

¥1.50

$0.02

Diluted

−

−

−

−

Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥82.08=US$1, the approximate exchange rate on April 28, 2011.

Kanamoto Semiannual Report 201114

Consolidated Financial Statements

Interim Consolidated Statements of Shareholders' Equity
Thousandsof shares

Millions of yen

Number ofshares ofcommonstock

Commonstock

CapitalsurplusRetainedearnings

Treasurystock

NetForeignunrealized
currency
holdingtranslation
gains onadjustments
securities

Minority
interests

Total net
assets32,872¥9,697¥10,961¥15,335

¥(24)

¥235

¥ −

¥338

¥36,542

Net income

−

−

−

1,516

−

−

−

−

1,516

Cash dividends

−

−

−

(328)

−

−

−

−

(328)

Change of scope of consolidation

−

−

−

67

−

−

−

−

67

Acquisition of treasury stock

−

−

−

−

(1)

−

−

−

(1)

Net changes in items except shareholders' equity

−

−

−

−

−

99

(19)

250

330

Balance at April 30, 2010

32,872¥9,697¥10,961¥16,590

¥(25)

¥334

¥(19)

¥588

¥38,126

Balance at October 31, 2009

Balance at October 31, 2009

32,872¥9,697¥10,961¥15,335

¥(24)

¥235

¥ −

¥338

¥36,542

Net income

−

−

−

1,042

−

−

−

−

1,042

Cash dividends

−

−

−

(657)

−

−

−

−

(657)

Change in scope of consolidation

−

−

−

68

−

−

−

−

68

Acquisition of treasury stock

−

−

−

−

(1)

−

−

−

(1)

Net changes in items except shareholders' equity

−

−

−

−

−

(88)

(41)

160

31

Balance at October 31, 2010

32,872¥9,697¥10,961¥15,788

¥(25)

¥147

¥(41)

¥498

¥37,025

Balance at October 31, 2010

¥37,025

32,872¥9,697¥10,961¥15,788

¥(25)

¥147

¥(41)

¥498

Net income

−

−

−

49

−

−

−

−

49

Cash dividends

−

−

−

(328)

−

−

−

−

(328)

Change of scope of consolidation

−

−

−

0

−

−

−

−

0

Acquisition of treasury stock

−

−

−

−

(0)

−

−

−

(0)

Net changes in items except shareholders' equity
Balance at April 30, 2011

−

−

−

−

−

268

3

64

335

32,872¥9,697¥10,961¥15,509

¥(25)

¥415

¥(38)

¥562

¥37,081

Minority
interests

Total net
assets$451,091

Thousands of U.S. dollars (Note)
Commonstock

CapitalsurplusRetainedearnings

Treasurystock

NetForeignunrealized
currency
holdingtranslation
gains onadjustments
securities$118,137$133,539$192,351$(304)$1,797$(493)$6,064

Net income

−

−

602

−

−

−

−

602

Cash dividends−−(4,001)

−

−

−

−

(4,001)

Change of scope of consolidation

−

−

0

−

−

−

−

0

Acquisition of treasury stock

−

−

−

(6)

−

−

−

(6)

Balance at October 31, 2010

Net changes in items except shareholders' equity
Balance at April 30, 2011

−

−

−

−

3,257

28

780

4,065

$118,137$133,539$188,952$(310)$5,054$(465)$6,844$451,751

Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥82.08=US$1, the approximate exchange rate on April 28, 2011.

15

Kanamoto Semiannual Report 2011

Interim Consolidated Statements of Cash Flows
Thousands of U.S.
dollars (Note)

Millions of yen
Prior fiscal year interim Prior fiscal year period(From November 1,
period2009 to October 31,(From November 1,
2010)
2009 to April 30, 2010)

Current fiscal year
Current fiscal year
interim periodinterim period(From November 1,(From November 1,
2010 to April 30, 2011) 2010 to April 30, 2011)

Cash flows from operating activities:
Net income before income taxes and minority interests¥3,042¥2,162¥441$5,371

3,684

7,767

4,309

52,493Adjustments for:
Depreciation expenses
Loss on disposal or sales of property and equipment
Acquisition of rental equipment
Loss on devaluation of investments in securities

0
38

94

85

1,037

(2,052)(2,462)(1,243)(15,145)
1,268

4

28

104

Gain on sales of investments in securities

(154)

(153)

0

0

(Reversal of provision) provision for allowance of doubtful accounts

(91)

(220)

17

213
1,057

Provision for accrued pension and severance costs

70

21

87

Interest and dividend income

(20)

(58)

(20)

(248)

Interest expenses

451

944

453

5,515

Decrease (increase) in trade receivables

684

(268)

817

9,948

(Increase) decrease in inventories

(13)

55

(81)

(991)

(1,195)

(552)

1,102

13,426
8,832(Decrease) increase in trade payables
Loss on disaster

−

−

725

Other, net

1,273

2,409

262

3,197

Subtotal

5,721

9,767

7,058

85,973

Interest and dividend income received
Interest expenses paid
Income taxes paid

20

59

20

249

(413)

(870)

(388)

(4,728)247

132(1,066)(12,985)

5,575

9,088

5,624

68,509Payments for purchase of investment securities

(15)

(539)

(437)

(5,327)

Proceeds from sales of investment securities

774

776

−

−

Payments for purchase of property and equipment

(76)

(265)

(170)

(2,070)Net cash provided by operating activities
Cash flows from investing activities:

Other, net

46

130

(94)

(1,147)

Net cash provided by (used in) investing activities

729

102

(701)

(8,544)

Increase in short-term bank loans, net

7,536

11,332

4,654

56,701

Proceeds from long-term debt

2,009

2,609

1,130

13,767

Repayments of long-term debt

(5,599)(10,805)(5,386)(65,615)

Repayments of obligation under installment purchases

Cash flows from financing activities:(2,077)(4,382)(2,604)(31,723)

Repayments of lease obligations

(194)

(791)

(581)

(7,075)

Cash dividends paid

(328)

(657)

(328)

(3,994)

(1)

(44)

78

951

1,346

(2,738)(3,037)(36,988)

Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents

3

(23)

1

14

Net increase in cash and cash equivalents

7,653

6,429

1,887

22,991

Cash and cash equivalents at beginning of the year

252,817

14,086

14,086

20,751

Increase in cash and cash equivalents from newly consolidated subsidiaries

185

185

−

−

Increase in cash and cash equivalents resulting from merger of subsidiaries

−

51

−

−

¥21,924¥20,751¥22,638$275,808

Cash and cash equivalents at end of the year

Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥82.08=US$1, the approximate exchange rate on April 28, 2011.

Kanamoto Semiannual Report 201116

トピックス TOPICS

2010.11平成22年10月期通期業績予想の修正について発表

Released financial statements for the 46th Business Period(Business Period ended October 2010), held briefings and1-on-1s for institutional investors and briefings for individual investors

第46期（2010年10月期）決算発表、機関投資家説明会・1on1、
個人投資家説明会を開催

Implemented briefings and 1-on-1s for institutional investors after
release of settlement of accounts report. During the same month,convened the first briefing of the 47th Business Period for individual
investors at the Nanba Branch of Nomura Securities Co., Ltd. in Osaka.

ラジオNIKKEIの投資家向け番組「夕焼けマーケッツ」に出演

Appeared on the Radio NIKKEI “Evening Markets” programfor investors

剰余金の配当について発表

Released Notification Concerning Dividends from Surplus

2011.1

第46回定時株主総会

Held 46th Regular General Meeting of the Shareholders

第２回タームアウト型リボルビング・クレジット・ファシリティ契約の締結について発表

Released Notification Concerning Signing of 2nd Revolving
Credit Facility Agreement with Term-out Option

シンガポールに現地同業社と合弁で設立した新会社について発表

Announced the establishment of a new company inSingapore through a joint venture with a local firm

2011.2

当社はシンガポールに現地の同業であるJPネルソン社と合弁で「Kanamoto & JP Nelson Equipment(s) PTE Ltd.」を設立しました。

Kanamoto established a joint venture company in Singapore, named
Kanamoto & JP Nelson Equipment (S) PTE Ltd., with JP Nelson
Equipment PTE. LTD., the leading construction equipment rental
company in the Republic of Singapore.

IRイベントに出展

Exhibited at IR events

２月にIRフォーラム2011大阪、３月には東証IRフェスタ、そして４月には札幌証券取引所主催の上場会社合同説明会に出展するなど、IR活動を積極的に展開しました。

Aggressively developed IR activities, including exhibiting at IR Forum2011 Osaka in February, Tokyo Stock Exchange IR Festa in March and alisted company combined briefing sponsored by Sapporo Securities
Exchange in April.

入社式・新人研修

2011.3 2011.4

第47期（2011年10月期）第１四半期決算発表

Released Three-month Consolidated Financial Report for
the Fiscal Year ending October 31, 2011

Initiation ceremony/New employee training
Held Kanamoto Customer Thanks Fair 2011

東日本大震災の影響で延期しておりました「カナモトサンクスフェア2011」は北海道で再開の運びとなり、
５月から７月にかけて５カ所で開催しました。今後は９月10日・11日に旭川での開催を予定しています。

Kanamoto Customer Thanks Fair 2011, which was postponed becauseof the Great East Japan Earthquake, was restarted in Hokkaido and held
at five locations from May through July. The Company plans to hold thenext fair on September 10-11 in Asahikawa.

2011.5

カナモトサンクスフェア2011を開催

第47期（2011年10月期）第２四半期決算発表、説明会・1on1を実施

Released Six-month Consolidated Financial Report for the
Fiscal Year Ending October 31, 2011 and held briefings and1-on-1s

Kanamoto Semiannual Report 20112011.6

東日本大震災の被災による特別損失の発生ならびに平成23年10月期第２四半期業績予想の修正について発表

Released Notification Concerning Extraordinary Loss (Lossfrom Damage by the Great East Japan Earthquake) andRevision of Projected Operating Results for the Interim
Period of the Fiscal Year Ending October 2011

決算発表後、機関投資家向け説明会ならびに1 on 1を実施しました。取締役執行役員経理部長の卯辰伸人から第２四半期の決算概
要や通期見通しについて、社長室広報課長の高山雄一からカナモトの海外展開や震災対応などについてご説明いたしました。

17

2010.12

決算発表後、機関投資家向け説明会ならびに１on１を実施。
また、同月に第47期1回目となる個人投資家説明会を大阪の野村證券なんば支店で開催しました。

Released Notification Concerning Revision of Projected
Full-Year Operating Results for the Business Period Ending
October 2010

Implemented briefings and 1-on-1s for institutional investors after
release of settlement of accounts report. Nobuhito Utatsu, Director andCorporate Officer and the Division Manager of Kanamoto’s Accounting
Division, provided an explanation of the interim settlement of accounts
and outlook for the full year, and Yuichi Takayama, Manager, Investor
and Public Relations in the Office of the President, explained Kanamoto’s
overseas development efforts.

東日本大震災への対応について

Response to the Great East Japan Earthquake

当社は３月11日の地震発生当日、東京の営業統括本部に「対策本部」を設置し、復旧に要する建機・機材の供給や人材の派遣を実施してまいりました。緊急対応が一段落した現在も、対策本部の傘下に「現地震災対策室」を設置して直接的に現地対応を行うなど、
引き続き支援活動に努めております。
これまでカナモトグループが行ってきた震災対応の経過は以下のとおりです。

On March 11, 2011, Kanamoto established a Task Force at its
Business Coordination Headquarters in Tokyo to respond to theGreat East Japan Earthquake, which occurred on the same day. The
Company has been supplying construction equipment and partsneeded for restoration work, and has dispatched employees to thestricken region to help with the recovery effort. Kanamoto’s support
activities are ongoing at the present time, as the first stage of theemergency response has been completed, and include the creationof a Local Earthquake Disaster Office that reports to the Task Forceand undertakes support measures directly in the local area.
Measures taken by the Kanamoto Group so far in response to theearthquake are outlined below.

地震発生当日に対策本部を設置●2011年3月11日：「東北地方太平洋沖地震対策本部」を設置●2011年4月1日：「東日本大震災対策本部」（名称変更）Creation of a Task Force on the day of the earthquake●March 11: Established a Tohoku Pacific Offshore Earthquake Task
Force
●April 1: Great East Japan Earthquake Task Force (name change)

全国の拠点から被災地へ、迅速な資産シフト●2011年3月14日：北海道から発電機、支援物資などを搬送●2011年3月16日、17日、20日：不足する建機の供給を実施●2011年3月19日：北海道と関西から応援隊を派遣

Rapid shift of assets to the stricken area from branches nationwide●March 14: Transported generators, support materials etc. from
Hokkaido●March 16, 17, 20: Provided construction equipment that was inshort supply● March 19: Dispatched assistance teams from Hokkaido andKansai※震災需要に対応すべく建機メーカー各社に追加発注をしております。

気仙沼
Kesennuma

瓦礫撤去作業を行う当社油圧ショベル
Kanamoto hydraulic excavators being
used for debris removal operations

大船渡
Ofunato

Hakodate

Momoishi Branch
Hachinohe Branch

MoriokaAkita

津波被害のあった沿岸部で復旧工事に使用される当社の油圧ショベルと散水車
Kanamoto hydraulic excavators and water tanktrucks used for restoration works in coastal areas
damaged by the tsunami

陸前高田
Rikuzentakata

Aomori

Aomori

Akita

Note: Kanamoto has placed additional orders with construction equipment
manufacturers to respond to demand following the earthquake.

撤去作業を行う当社建機と陸前高田市役所の仮庁舎として使用される仮設ユニットハウス（右）Kanamoto construction equipment being used forremoval work and modular housing units used as
temporary public office space at Rikuzentakata
City Hall (right)

Iwate
ate

Yamagata

復旧工事が急がれる工場や施設で、瓦礫を撤去・運搬する油圧ショベルとトラック
Hydraulic excavators and trucks remove andtransport debris at factories and facilities where
restoration works must be performed quickly

Ishinomaki Branch

Yamagata
SendaiSendai Branch
Sendai South BranchSoma Branch

Fukushima

Tomioka Branch
Iwaki-Chuo Branch
Iwaki Branch

石巻
Ishinomaki

Miyagi

Fukushima

仙台
Sendai

Ofunato Branch

自衛隊の捜索活動（左）や地元小学校の復旧工事（右）などに使用される当社油圧ショベル
Kanamoto’s hydraulic excavators being used for
Self Defense Forces search activities (left) andlocal elementary school restoration works (right)
電力不足への対応

東京
Tokyo

建設会社以外の企業・施設にも、可搬型発電機を供給しています。
また、当社が代理店となっている米国
キャプストン社のコージェネ・マイクロガスタービン発電機や、LEDランプのお問い合わせも増加しています。

Response to electric power shortages
Kanamoto has supplied portable generators for firms and facilities other thanconstruction companies. Inquiries regarding co-generation gas microturbine
generators produced by U.S. manufacturer Capstone Turbine Corporation anddistributed by Kanamoto and for LED lamps have also increased.

浦東安
京
Urayasu

液状化した鉄鋼団地付近の現場で、急ピッチで進められる復旧工事
Restoration work is proceeding rapidly atliquefaction sites near an iron and steel production
site

今後も皆様の一助となるよう、カナモトグループ一丸となって尽力してまいります。
The Kanamoto Group will continue working as one to assist everyone in need following this unprecedented disaster.
Kanamoto Semiannual Report 201118

グラフで見る5年間（連結） Performance at a Glance (Consolidated)= 期末/Full year

= 第2四半期累計/Interim period

キャッシュフロー Cash Flow
株価キャッシュフロー倍率 PCFR

減価償却前営業利益 EBITDA
EBITDA倍率 EBITDA Ratio

当期純利益 Net Income
株価収益率 PER

CF＝当期純利益＋減価償却費−(配当＋役員賞与）
PCFR＝株式時価総額÷CF＝株価÷1株当たりCF

EBITDA＝営業利益＋減価償却費
EBITDA倍率＝（期末株式時価総額＋有利子負債−
期末非営業資産時価）÷EBITDA

7,9$;V[HSTHYRL[JHWP[HSPaH[PVUH[LUKVMWLYPVK¼
5L[0UJVTL*-$5L[PUJVTL+LWYLJPH[PVUL_WLUZL*HZOKP]PKLUKZ)VU\ZLZ[VKPYLJ[VYZHUKH\KP[VYZ
7*-9 $ ;V[HS THYRL[ JHWP[HSPaH[PVU ¼ *- $ :[VJR7YPJL ¼*HZOMSV^WLYZOHYLVMJVTTVUZ[VJR

百万円/Millions of yen

倍/Times

10,00010

PER＝期末株式時価総額÷当期純利益,)0;+( $ 6WLYH[PUN PUJVTL  KLWYLJPH[PVUHUK HTVY[PaH[PVU
L_WLUZL,)0;+( YH[PV $ ;V[HS THYRL[ JHWP[HSPaH[PVU H[ LUK VM
I\ZPULZZWLYPVKPU[LYLZ[ILHYPUNKLI[THYRL[]HS\LVMUVU[YHKLHZZL[ZH[LUKVMI\ZPULZZWLYPVK¼,)0;+(

百万円/Millions of yen

倍/Times

15,0008,000

812,000

8

6,000

6

9,000

6

4,000

4

2,000

0

2

'07

'08

'09

'10

'11

0

6,000

4

3,000

0

百万円/Millions of yen

10

2

'07

'08

'09

'10

'11

0

倍/Times

81,000405

80,000

400

4,000

20

3,000

15

2,000

10

1,000

5

0

0

-1,000-5-2,000

'07

'08

'09

'10

'11

-10

09年10月期第2四半期累計期間のPERは、
当該期間に純損失を計上したため、表示しておりません。
Because Kanamoto booked a net loss for the relevant period, the PER
for the interim period of the Business Period ending October 2009 isshown as 0 (zero).

株価純資産倍率 PBR
7)9＝96,×7,9

純資産 Net Assets
自己資本比率 Capital Adequacy Ratio

自己資本利益率 ROE

自己資本比率＝自己資本÷総資産96,$5L[PUJVTL¼:OHYLOVSKLYZ»LX\P[`$,7:¼)7:

ROE＝当期純利益÷自己資本
÷一株当たり純資産（BPS）＝一株当たり当期純利益（EPS）*HWP[HS(KLX\HJ`9H[PV$:OHYLOVSKLYZ»LX\P[`¼;V[HSHZZL[Z倍/Times

1.2
1.0

百万円/Millions of yen%%

50,00050

1040,00040

830,00030

620,00020

410,000

10

2

0.8
0.6
0.4
0.2
0.0

'07

'08

'09

'10

'11

0

'07

'08

'09

'10

'11

0

0

'07

'08

'09

'10

'11

09年10月期第2四半期累計期間のROEは、
当該期間に純損失を計上したため、表示しておりません。
Because Kanamoto booked a net loss for the relevant period, the ROE
for the interim period of the Business Period ending October 2009 isshown as 0 (zero).

総資産利益率（ROA）

1株当たり配当

ROA＝当期純利益÷総資産96($5L[PUJVTL¼;V[HSHZZL[ZDividend per Share of Common Stock=特別配当/Special dividend=期末予想/Projected

%
4.5

円/yen
￥20
20

￥2

4.0

￥20
￥10

￥20
￥10

￥20
￥10

￥20
￥10

￥10

￥10

￥10

￥10

'08

'09

'10

'11

￥9

3.5

15

3.0
2.5
10

2.0

￥9

1.5
5

1.0
0.5
0.0

'07

'08

'09

'10

'11

09年10月期第2四半期累計期間のROAは、
当該期間に純損失を計上したため、表示しておりません。
Because Kanamoto booked a net loss for the relevant period, the ROA
for the interim period of the Business Period ending October 2009 isshown as 0 (zero).

19

Kanamoto Semiannual Report 2011

0

'07

＊2007年10月期の期末配当の11円のうち2円は増益による特別配当です。
*The 2007 cash dividend of ¥20 included a special
dividend of ¥2.

拠点ネットワーク Branch Network

レンタル事業部

鉄鋼事業部

情報機器事業部

Construction Equipment Rental Division

Steel Sales Division

Information Products Division

アライアンス企業

Kanamoto Alliance Group Firms
連結子会社

非連結子会社

アライアンス提携会社

Consolidated Subsidiaries

Non-consolidated Subsidiaries

Alliance Companies

株式会社アシスト
Assist Co., Ltd.

株式会社コムサプライ
Comsupply Co., Ltd.

町田機工株式会社
Machida Kikou Co., Ltd.

株式会社エスアール・ジー カナモト
SRG Kanamoto Co., Ltd.

フローテクノ株式会社
Flowtechno Corporation

ツールレンタル事業＊
Tool Rental Business*

株式会社カナテック
Kanatech Co., Ltd.

株式会社センターコーポレーション
Center Corporation＊ホームセンター大手の（株）コメリと提携し、小物機械のレンタル事業を展開しています。

株式会社 KG マシナリー
KG Machinery Co., Ltd.

第一機械産業株式会社
Daiichi Machine Industries Co., Ltd.

* Kanamoto is developing the small equipment andtools rental business in cooperation with Japan’s
DIY leader Komeri Co., Ltd.

金本（香港）有限公司

株式会社カンキ
Kanki Corporation

KANAMOTO (HK) CO., LTD.
Kanamoto & JP Nelson Equipment (S)PTE Ltd.

株式会社九州建産
Kyushu Kensan Co., Ltd.
東洋工業株式会社
Toyo Industry Co., Ltd.
株式会社カナモトエンジニアリング
Kanamoto Engineering Co., Ltd.

中国での事業展開

遼寧分公司

Business development in China

北京分公司

Liaoning Branch

日本国内営業拠点
Branch offices in Japan

Beijing Branch

天津分公司

Tianjin Branch

上海金和源設備租賃有限公司
Shanghai Jinheyuan Equipment Rental
Co., Ltd.

大連分公司

Dalian Branch

江蘇分公司

Jiangsu Branch

南京分公司
Nanjing Branch

上海金和源建設工程有限公司
Shanghai Jinheyuan Engineering
Construction Co., Ltd.

上海分公司

SJ Rental, Inc.

武漢分公司

Shanghai Branch

浙江分公司
Zhejiang Branch

四川分公司
Sichuan Branch
Wuhan Branch

広州分公司

Guangzhou Branch

上海 :OHUNOHP
香港 /VUN2VUN
グアム島 .\HT

シンガポール :PUNHWVYL

海外での展開中国、グアム、シンガポールに拠点展開しているほか、ベトナム、アルジェリア、UAE、環太平洋域でも建機レンタルを実施しています。
Overseas development
In addition to developing branches in China, Guam and Singapore, Kanamoto is also engaged in construction equipment rental in Vietnam, Algeria, the UAE and the Pacific Rim region.

当社および当社グループ営業拠点エリア別内訳（2011年6月現在）
Kanamoto and the Group companies’ operating branches in Japan (as of June 2011)
レンタル事業部
Construction Equipment Rental
Division
連結子会社
当社単独
Kanamoto Co.,
Consolidated
Ltd.
subsidiaries

鉄鋼事業部
Steel Sales Division

情報機器事業部
Information Products Division

当社単独
Kanamoto Co.,
Ltd.

連結子会社
Consolidated
subsidiaries

当社単独
Kanamoto Co.,
Ltd.

連結子会社
Consolidated
subsidiaries

計
Total

国内

D omesti c

Hokkaido

62

18

3

0

0

0

83

東

北

Tohoku

49

2

0

0

0

0

51

関

東

Kanto

29

5

0

0

1

1

36

中

部

Chubu

17

0

0

0

0

0

17

近

畿

Kinki

4

11

0

0

0

0

15

中

国

Chugoku

1

0

0

0

0

0

1

四

国

Shikoku

1

0

0

0

0

0

1

九

州

Kyushu

0

30

0

0

0

0

30

中

10

Overseas

海外

北海道

国

China

0

10

0

0

0

0

アメリカ

U.S.A

0

1

0

0

0

0

合

計

Total

240

3

2

1
245

Kanamoto Semiannual Report 201120

役員（2011年6月現在） Board of Directors（As of June 2011）

取

締

① 金本

役
寛中＊

代表取締役社長

② 卯辰

＊

伸人

＊

哲男

営業統括本部長レンタル事業部長

④ 成田

敬一＊

浩之＊

龍男＊
学＊

⑨ 長崎

レンタル事業部東北地区・関東地区統括部長

裕一＊

債権管理部長⑪ 椋梨

Division Manager, Business Management
Planning Division

Deputy Division Manager, Construction
Equipment Rental Division
Division Manager, Used Products Sales
Division

Keiichi Kitakata*
Division Manager, Information Products
Division and Market Development Division

Hiroyuki Isono*
Division Manager, Administration Division
General Manager, Office of the President

レンタル事業部北海道地区統括部長⑩ 麻野Manager, Business Coordination
Headquarters Division and Construction
Equipment Rental Division

Masakazu Hirata*

総務部長
社長室長

⑧ 金本

Tetsuo Kanamoto*

政一＊

情報機器事業部長
事業開発部長⑦ 礒野

Nobuhito Utatsu*

Hitoshi Narita*

レンタル事業部副事業部長
特販部長

⑥ 北方

President and CEO

仁志＊

業務部長

⑤ 平田

Kanchu Kanamoto*

Division Manager, Accounting Division

経理部長

③ 金本

Directors

直樹＊

海外事業部長Tatsuo Kanamoto*Regional Manager, Hokkaido Region
Construction Equipment Rental Division

Manabu Nagasaki*
Regional Manager, Tohoku Region and
Kanto Region Construction Equipment
Rental Division

Yuichi Asano*
Division Manager, Credit Management
Division

Naoki Mukunashi*
Division Manager, Overseas Business
Division

執行役員

Corporate Officers⑭ 熊谷

Hiroshi Kumagai浩

情報システム部長⑫ 門脇克俊

Katsutoshi Kadowaki⑮ 問谷⑬ 上谷内祐二

Yuji Kamiyauchi

監

Auditors

査

役

① 澤田

紳六

② 金本

栄中
直之
昭夫
清宏
晥

Akira Naoi
Outside Corporate Auditor

監査役

⑦ 大場

Kiyohiro Tsuji
Outside Corporate Auditor

監査役

⑥ 直井

Akio Hashimoto
Outside Corporate Auditor

監査役

⑤ 辻

Naoyuki Yokota
Standing Corporate Auditor

常勤監査役

④ 橋本

Eichu Kanamoto
Standing Corporate Auditor

常勤監査役

③ 横田

Shinroku Sawada
Standing Corporate Auditor

常勤監査役

久夫

監査役

Hisao Ooba
Outside Corporate Auditor（注1）＊印の取締役は、執行役員を兼任しております。
（注2）
門脇克俊氏及び上谷内祐二氏は、
会社法第2 条第15号に定める社外取締役であります。
（注3）
監査役の橋本昭夫氏及び辻清宏氏、直井晥氏、大場久夫氏は、会社法第2条第16号に定める社外監査役であります。
（注4）
役職名は当社におけるもののみを記載しており、一部兼務役職を省略しております。
1. Asterisk indicates directors who hold the additional post of corporate officer.
2. Katsutoshi Kadowaki and Yuji Kamiyauchi fulfill the requirements for Outside
Directors as stipulated by Article 2-15 of the Company Law.
3. Outside Auditors Akio Hashimoto, Kiyohiro Tsuji, Akira Naoi and Hisao Ooba areoutside auditors as stipulated by Article 2-16 of the Company Law.
4. Only the position titles at Kanamoto are shown, and official positions being
performed concurrently have been omitted.

21

Kanamoto Semiannual Report 2011

悟

レンタル事業部部長（九州地区担当）

Division Manager, Information System
Division

Satoru Toiya
Regional Manager, Kyushu Region
Construction Equipment Rental Division

会 社 概 要（2011年6月現在） Corporate Data（As of June 2011）

商Company Name

号

本社所在地

Head Office北海道札幌市中央区大通東3丁目1番地19

1-19, Odori Higashi 3-chome Chuo-ku, Sapporo,
Hokkaido 060-0041 Japan

設

立

1964年
（昭和39年）10月28日Established
October 28, 1964

資本金

Capitalization

96億96百万円（払込済資本金）¥9,696 million (Paid-in capital)

上場取引所

Listing Exchanges

東京証券取引所第一部･札幌証券取引所

Tokyo Stock Exchange, First Section
Sapporo Stock Exchange

証券コード

Stock Code

9678

9678

発行済株式総数

Common Shares Issued and Outstanding

32,872千株

32,872 thousand

決算期

Fiscal Year-end

毎年10月31日（年1回）

October 31

連結売上高Consolidated Revenues

701億73百万円（2010年10月期）¥70,173 million(Fiscal year ended October 31, 2010)

連結従業員数

Number of Consolidated Employees

1,794名(2011年4月30日現在）（役員、嘱託、臨時社員を除く）

1,794 (As of April 30, 2011)(Excluding directors and temporary or part-time workers)

事業内容

Principal Businesses

建設機械器具のレンタル、鉄鋼製品の販売、エンジニアリング
ワークステーションおよび周辺機器のレンタル

Rental of construction equipment
Sale of steel products
Rental of engineering workstations and computer peripherals

本社ビル
Headquarters Buillding
Sapporo, Hokkaido

東京本部（営業統括本部）
Tokyo Headquarters(Business Coordination
Headquarters)
Minato ward, Tokyo
Kanamoto Semiannual Report 201122

このアニュアルレポートは、古紙配合率 100％再生紙とベジタブルオイルインキを用いています。
This annual report is printed on 100% recycled paper with vegetable oil ink.