DigestMay 16, 2003

Brief non-consolidated Financial Report for the Year ended March 31, 2002

(April 1, 2002 – March 31, 2003)
Listed company name: Asgent, Inc.
Code #: 4288
Head office: 19-7 Nihonbashi Koami-cho, Chuo-ku, Tokyo Japan
President & CEO: Takahiro (Shuji) SugimotoContact: Shinji Suzuki, Director of Corporate Development & PlanningPhone #: +81-3-5643-2581
Date of Board of Directors Meeting: May 16, 2003
Adoption of US GAAP: NO
1. Results for the year ended March 31, 2003 (April 1, 2002 - March 31,2003)(1) Non-Consolidated Business Results(Millions of yen)
FY2001
FY2002
Change(Full Year)(Full Year)Net Sales
4,157
3,718(10.6) %Operating Income
511302(40.9) %Income Before Income Taxes
503301(40.2) %Net Income
280165(41.1) %Per Share Data:
Average Number of Shares Outstanding―
37,54239,286
During the Term
Net Income per share (Yen)―¥7,470.31¥4,201.70
Note 1. Investment profit and loss arising from equity method: None
2. Changes to accounting policies: None
3. Company’s fiscal year is April 1-March 31(FY2001=Apr 1, 2001 - Mar 31, 2002, FY2002=Apr 1, 2002 - Mar 31, 2003)
4. 1:5 share-split made on May 20, 2002. This effect is retroactively adopted for Net Income pershare calculation in FY2002(2) Non-Consolidated Financial Position (as of March 31, 2003)
As of March 31,
2002
Total Assets
3,091
Stockholders’ Equity
1,827
Equity Ratio
59.1 %Per Share Data:
Outstanding Number of Shares at the term end
39,200Stockholders’ Equity (Yen)¥46,608.74(Millions of yen)
As of March 31,
2003
3,101
1,990
64.2 %

2.Forecast of non-consolidated business results for the year ending March 31, 2004
(April 1, 2003 – March 31, 2004)

Net Sales
Net Income
Expected Net Income per share (Yen)(Millions of yen)

FY2003(Full Year)
4,000
180
¥4,576.65

39,330¥50,612.61

3. Non-Consolidated Financial Statements
3-1 Non-Consolidated Balance Sheets(In thousand yen, rounded down)
As of March 31,
2002
AmountRatio

As of March 31,
2003
AmountRatio

637,040
1,089,274
397,337
273,189
365
4,493
26,48972,141
40,5142,540,844

82.2

865,093
947,210
20,362
248,177
35
9,411
12,58359,0262,161,899

69.7(378,945)

1.4

14,34340,249469
55,063

1.8

10,9554.2

3,061
168,805
50,813
222,680

7.2

92,413

105,555
2,924
38,3701,642
213,053
15,150376,695
551,070

12.2
17.8

96,040396,690
1,394
38,3707,144
79,206
40,596
659,496937,24021.2
30.2

282,800
386,169

3,091,915

100.0

2,833
2,833
3,101,973

0.1
100.0

2,833
10,057

Change<ASSETS>
Current Assets
1.Cash and Deposits
2.Accounts Receivable-trade
3.Marketable Securities
4.Inventories
5.Supplies
6.Prepaid Expense
7.Defferred Tax
8.Future Foreign Exchange Contracts
9.Others
Total Current Assets
Fixed Assets
Property, Equipment less Depreciation
1.Building
2.Tools, Furniture and Fixtures
3.LandSub-total
Intangibles Fixed Assets
1.Trademark
2.Software
3.Software Development in Process
Sub-total

15,04528,592469
44,107744
29,65999,863130,267

Investment and Other Asset
1.Investment Securities
2.Stock of Affiliated Company
3.Investments in Partnership
4.Deposits
5.Deferred Taxes
6.Future Foreign Exchange Contracts
7.Others
Sub-total
Total Fixed Assets
Deferred Assets
1.Bond Issue Costs
Total Deferred Assets
Total Assets

(In thousand yen, rounded down)
As of March 31,
2002
AmountRatio

As of March 31,
2003
AmountRatio

Change<LIABILITIES>Current Liabilities:
1.Accounts Payable-trade
2.Accounts payable
3.Accrued Expenses
4.Accrued Income Taxes
5.Consumption Tax Payable
6.Advance Received
7.Deposit Received
8.Reserve for Bonus Payment
9.Deferred hedge profit
10.Others
Total Current Liabilities
Fixed Liabilities
1.Bond
2.Reserve for Retirement Allowance
Total Fixed Liabilities
Total Liabilities<Stockholders’ Equity>
Ⅰ Capital StockⅡ Additional Paid-in Capital
Ⅲ Other Surplus
1.Retained Earnings(1) Special Reserve for Amortization
2.Unappropriated retained earnings
Total Other Surplus
Ⅳ Appraisal Loss on Investment Securities
Total Stockholders’ Equity
Ⅰ Capital Stock
Ⅱ Capital Surplus
1.Additional Paid-in Capital
Total Capital Surplus
Ⅲ Earned Surplus
1.Retained Earnings(1) Special Reserve for Amortization
2.Unappropriated retained earnings
Total Earned Surplus
Ⅳ Appraisal Loss on Investment Securities
Total Stockholders’ Equity
Total Liabilities and Shareholders’ Equity

627,951
61,122
18,352201,967
23,137
6,620
4,910
27,613285,194
1,256,871

40.6337,456
79,84030,116
2,878
7,504
3,681
2,685
33,98782,354
21,814602,31919.4(654,551)

7,982
7,982
1,264,853

0.3
40.9

500,000
9,059
509,059
1,111,378

16.4
35.8

501,076(153,474)

767,000
704,000

24.8
22.8

-

-

(767,000)(704,000)

2,084
354,660
356,744(681)
1,827,062

11.5
(0.0)
59.1

-

-

(356,744)
681(1,827,062)--

768,000

24.8

768,000--

704,300
704,300

22.7

704,300

100.0

1,786
520,027
521,814(3,520)1,990,594
3,101,973

16.8(0.1)
64.2
100.0

521,814(3,520)1,990,594
10,057

3,091,915

(In thousand yen, Rounded down)

3-2 Non-Consolidated Statements of Income
FY2001(From Apr 1, 2001
to Mar 31, 2002)
AmountRatio

FY2002(From Apr 1, 2002
to Mar 31, 2003)
AmountRatio

Change4,157,821
2,929,805
1,228,015

100.0
70.5
29.5

3,718,783
2,500,766
1,218,016

100.0
67.3
32.7

(439,038)(429,038)(9,999)17.2
12.3

11,61359,72454,540278,155
27,9132,844
43,391
3,917
30,864
15,60040,053
21,863
20,206
93,79562,0685,316
12,44013,443
118,060
915,814302,202

24.6
8.1

199,316(209,315)

0.7

2,248
1,050
382
3,681

0.1

(24,055)

539
34,636
1,049
36,225

0.9

410
1,416
1,120
1,530
92
4,570

0.1

(31,655)

Ordinary Profit

503,02912.1

301,3138.1(201,716)

Income Before Income Taxes

503,02912.1

301,3138.1(201,716)

Income Taxes & tax adjustments

222,575

5.4

136,243

3.7(86,332)

Net Income

280,453

6.7

165,070

4.4(115,383)

Retained Earnings(Deficit) Brought
Forward74,206354,957

280,751

Unappropriated retained earnings

354,660

520,027

165,367

Ⅰ Net Sales
Ⅱ Cost of Sales
Gross Profit
Ⅲ Selling, General and
Administrative Expenses
1. Transportation
２. Advertising
3. Director’s Salaries And Remuneration
4. Salaries and Bonus
5. Provision for Bonus
6. Retirement Allowance
7. Legal Welfare
8. Welfare
9. Travel
10.Postage
11.Office Rent
12.Leases
13.Supplies
14.Part-Time Staff
15.Commissions
16.Taxes and Public Dues
17.Depreciation
18.Research and Development
19.Others
Operating Income
Ⅳ Other Profit
1.Interest Received
2.Exchange Gain
3.Others
Ⅴ Other Expenses
1.Interest Paid2.Bond Interest
3.Bond Issue Expense
4.Stock Issue Expense
5.Investments Operating Loss
6.Others

9,685
53,20847,649222,867
23,4983,519
31,487
2,776
23,961
10,751
38,31925,123
18,37770,05041,304
838
9,905
2,500
80,670716,497
511,517

13,67912,787
1,270
27,737

3-4 Statements of Appropriations(In thousand yen, Rounded down)

Ⅰ

Unappropriated retained earnings

Ⅱ

Reversal of voluntary earned surplus
Reversal of special depreciation reserve
TotalⅢFY2001(From Apr 1, 2001
to Mar 31, 2002)

FY2002(From Apr 1, 2002
to Mar 31, 2003)

354,660

520,027297

297

354,957

520,325-

9,832

354,957

510,493

Appropriations of retained earnings
Voluntary earned surplus
Special depreciation reserve

Ⅳ

Retained earnings brought forward to the next period

The Fund and Reversal of special depreciation reserve are based on the rules of special taxation measures low.