Asgent, Inc.

Summary of Consolidated Financial Results
Financial Highlights(For the year ended March 31, 2008)

Listed Company Name: Asgent, Inc.
Listing Exchange: JASDAQ
Security Code No:4288
URL: http://www.asgent.co.jp/
Representative: Takahiro Sugimoto
President & CEO
Enquiries:

Shinji Suzuki
Managing Director & CFO

TEL:+81-3-5643-2581

1. Consolidated Business Results(1) Consolidated Operating Results
Note: Figures less than one million yen omitted, except for EPS and BPS

For the year ended

Net sales

Operating income

Ordinary income

Net income

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Mar. 31, 2008

3,668

8.2%

102-%

99-%

(93)

-%

Mar. 31, 2007

3,390

2.8%

(156)

-%

(187)

-%

(420)

-%

Note: the ratio represents the changes from the same period of the previous year

Basic EPS

DilutedReturn on

Ordinary income toOperating income

EPS

equitytotal assets ratio

to net sales ratio

For the year ended

Yen

Mar. 31, 2008

(2,367.05)--10.4%

4.5%

2.8%

Mar. 31, 2007

(10,672.54)--36.1%

-7.6%

-4.6%

Yen

(2) Consolidated Financial Conditions
Total AssetsAs ofMillions of yen

Shareholders’Shareholders’EquityEquity ratio

Millions of yen

BPSYenMar. 31, 2008

2,100

843

40.2%

21,358.78

Mar. 31, 2007

2,318

958

41.3%

24,271.95(3) Consolidated Cash FlowsFor year ended

Cash and cash

Operating

Investing

Financing

activities

activities

activities

Millions of yen

Millions of yen

Millions of yen

equivalents
end of period
Millions of yen

Mar. 31, 2008

144(119)(8)

537

Mar. 31, 2007

(198)

(60)

(35)

530

2. Forecast for the Consolidated Financial Results (For the year Ending March 31st ,2009)
There are no items corresponding to consolidated subsidiaries or equity method affiliates for the year ending
March 31st, 2009

2. Consolidated financial statements（for the year ended March 31, 2008）(1) Consolidated Balance Sheets
Note: Figures less than one thousand yen omitted

Account Title

Mar. 31, 2007
AmountMar. 31, 2008
Ratio

AmountChangeRatio

AmountAssetsCurrent Assets
1.Cash and Deposits

530,019537,985

2.Account Receivable-trade912,645938,239

3.Inventories

325,528

52,148

4.Deferred Tax

41,02038,896

5.Corporate Tax Receivable

1,038

255

6.Others

39,034

27,621(1,139)(1,502)

Allowance for Bad Debt
Total Current Assets

1,848,146

79.7

1,593,644

75.9(254,501)

10.4

157,415

4.4(72,683)

Fixed Assets
Tangible Fixed Assets
1. Building

21,72621,142

2.Tools, Furniture and Fixtures

38,596

196,596

3.Land819

819

Sub-total

61,143

2.7

218,559

Intangible Fixed Assets
1.Software

117,371

86,8252.Others

47,992

5,854

Sub-total

165,364

7.1

92,680Investment and Other Assets
1.Investment Securities

181,153

134,227

2.Deposits

57,45957,854

3.Others

5,405

3,715

Sub-total

244,01810.5

195,7979.3(48,221)

Total Fixed Assets

470,52620.3

507,03624.1

36,5102,318,672

100.0

2,100,681

100.0(217,990)

Total Assets

Note: Figures less than one thousand yen omitted

Account Title

Mar. 31, 2007
AmountMar. 31, 2008
Ratio

AmountChangeRatio

AmountLiabilities
Current Liabilities
1.Accounts payable-trade471,416

403,215

2.Short-term Loan Payable

115,000

412,500

3.Current Portion of Bond

500,000

60,0004.Accounts Payable

108,451

38,864

5.Accrued Corporate Taxes

5,036

5,337

6.Reserve for bonus

45,24545,377-

8,651

78,238100,121

7.Reserve For Loss on Disposal of Discontinued Division
8.Others
Total Current Liabilities

1,323,388

57.1

1,074,067

51.1(249,321)

Fixed Liabilities
1.Bond-140,000

2.Reserve for retirement allowance

36,90543,262

Total Fixed Liabilities

36,905

1.6

183,262

8.7

146,357

1,360,294

58.7

1,257,330

59.8(102,964)

1.Capital stock

769,500

33.2

769,500

36.6

2.Capital surplus

705,200

30.4

705,200

33.6

3.Earned surplus(535,884)-23.1(629,347)-30.0(93,462)

Total Stockholders’ equity

938,81540.5

845,352

40.2(93,462)(8,492)-0.4(6,632)

-0.2

1,860

28,055

1.2

4,631

0.2

(23,423)

Total Appraisal Conversion Differences

19,5620.8(2,000)(0.0)(21,563)

Total Net Assets

958,37741.3

843,35140.2(115,026)

2,318,672

100.0

2,100,681

100.0(217,990)

Total Liabilities
Net Assets
Stockholders’ equity

Appraisal／Conversion Differences
1. Apprisal Differences on
Investment Securities
2. E x c h a n g e C o n v e r s i o n
Adjustment AccountTotal Liabilities and Net Assets

(2) Consolidated Statements of Income
Note: Figures less than one thousand yen omitted

Year ended Mar.31, 2007

Account Title

AmountYear ended Mar.31, 2008

Ratio

AmountRatio

ChangeⅠ Net Sales

3,390,648

100.0

3,668,041

100.0

277,393

Ⅱ Cost of Sales

2,361,726

69.7

2,461,529

67.1

99,802Gross Profit

1,028,921

30.3

1,206,512

32.9

177,590

1,185,242

34.9

1,104,497

30.1(80,744)(156,320)-4.6

102,0142.8

258,335

Ⅳ Non-operating Profit

33,441

1.0

23,516

0.6(9,924)

Ⅴ Non-operating Expense

64,276

1.9

25,8690.7(38,407)

Ordinary Income (Loss）(187,156)-5.5

99,6612.7

286,817

Ⅵ Extraordinary Loss

42,171

1.3

193,1655.3

150,994

Profit(Loss) Before Taxes(229,327)-6.8(93,504)-2.5

135,823

Tax Expenses

191,5125.6(41)0.0(191,553)

Profit(Loss) After Taxes(420,839)-12.4(93,462)-2.5

327,376Ⅲ

Selling,GeneralandAdministrative expense
Operation Profit(Loss）

(3) Consolidated Statements of Cash Flows
Note: Figures less than one thousand yen omitted.
Year ended

Year endedMar. 31, 2007

Mar. 31, 2008

ChangeⅠ Cash Flow from Operating Activities
Income(Loss) Before Taxes(229,327)(93,504)

135,823

Depreciation and Amortization

81,782120,235

38,453

Loss on Impairment of Assets

3,705-(3,705)

Loss on revaluation of investment securities-

50,06350,063

Increase(Decrease) in Reserve for Bad Debts

119362

243

Increase(Decrease) in Reserve for Bonus

(54)

1,641

1,695

10,053

6,238(3,815)

-

8,651

8,651

Interest and Dividends Received(2,752)(2,780)(27)

Interest Paid

7,689

9,116

1,427

Loss from Evaluation of Software

38,465

107,231

68,766

Exchange Loss(Gain)

1,801

6,197

4,396

Increase(Decrease) in Notes and Accounts Receivable-trade(243,042)(25,655)

217,387

Decrease(Increase) in Inventories(17,478)

67,30784,785Decrease(Increase) in Notes and Accounts Payable-trade

101,496(68,175)(169,672)

Gain from sale of securities(11,899)-11,899

Others56,516(22,355)(78,872)(202,924)

164,574

367,498

Interest and Dividends Received

2,752

2,780

27

Interest Paid(5,964)(11,962)(5,997)

Income Taxes Refunded(Paid)

7,585(1,507)(9,093)-(9,114)(9,114)(198,550)

144,770

343,321

Payments for Purchases of Tangible Fixed Assets(21,991)(34,910)(12,918)

Payments for Purchases of Intangible Fixed Assets(90,055)(85,089)

4,966

Payments for Purchases of Investment Securities(510,934)(450)

510,484

Revenue from Sales of Investment Securities

562,434

680(561,754)

500

234

(265)

(60,047)(119,534)(59,487)

115,000

297,500

182,500-

195,887

195,887(151,200)(501,375)(350,175)

Revenue by Stock Issue

940-(940)

Payments for Dividends

(166)

(209)

(42)

(35,426)(8,197)27,229Ⅳ Effect of Exchange Rate on Cash and Cash Equivalents

8,285(9,072)(17,357)

Ⅴ Net Increase(Decrease) in Cash and Cash Equivalents(285,739)

7,966

293,705

Ⅵ Cash and Cash Equivalents at the Beginning of the Fiscal Year815,758

530,019(285,739)

Ⅶ Cash and Cash Equivalents at the End of the Fiscal Year

530,019537,985

7,966

Increase (Decrease)in Reserve for Retirement Allowance
Increase(Decrease) in reserve for loss from discontinued Division

Sub-totalPayments for discontinued Division
Net Cash Provided by(used in) Operating Activities
Ⅱ Cash Flows from Investing Activities

OthersNet Cash Used in Investing Activities
Ⅲ Cash Flows from Financing Activities
Net revenue by short-term loan
Revenue by Bond flotation
Payments for Bond Redemption

Net Cash Provided used in Financing Activities

(4)Consolidated Statements of Change in Net Assets
Year Ended Mar. 31, 2007
Note: Figures less than one thousand yen omitted.
Stockholders’ Equity
Common Stock
BalanceMar. 31, 2006

Capital Surplus

768,800

704,960700240

Earned Surplus(115,045)

Total
1,358,714

Changes in the Fiscal YearStock issue
Net Profit(Loss)

940(420,839)(420,839)

Changes except for itemsof Stockholders’ Equity
Total of Changes
BalanceMar. 31, 2007

700

240

(420,839)(419,899)

769,500

705,200(535,884)

938,815

Appraisal/Conversion Differences

BalanceMar. 31, 2006

Appraisal Differences on

Exchange Conversion

Investment Securities

Adjustment Account(983)

17,280Total

16,297

Grand Total

1,375,011

Changes in the Fiscal Year
Stock issue940

Net Profit(Loss)
Changes except for itemsof Stockholders’ Equity
Total of Changes
BalanceMar. 31, 2007

(420,839)(7,509)10,774

3,265

3,265

(7,509)10,7743,265(416,633)(8,492)

28,055

19,562

958,377

Year Ended Mar. 31, 2008
Note: Figures less than one thousand yen omitted.
Stockholders’ Equity
Common StockBalance
Mar. 31, 2007

769,500

Capital Surplus

Earned Surplus

705,200

Total(535,884)

938,815(93,462)(93,462)(93,462)(93,462)(629,347)

845,352

Changes in the Fiscal YearNet Profit(Loss)
Changes except for itemsof Stockholders’ Equity
Total of Changes
BalanceMar. 31, 2008

769,500

705,200

Appraisal/Conversion Differences

BalanceMar. 31, 2007

Appraisal Differences on

Exchange Conversion

Investment Securities

Adjustment Account(8,492)

28,055

Total

19,562Grand Total

958,377

Changes in the Fiscal YearNet Profit(Loss)
Changes except for itemsof Stockholders’ Equity
Total of Changes
BalanceMar. 31, 2008

(93,462)
1,860(23,423)(21,563)(21,563)

1,860(23,423)(21,563)(115,026)(6,632)4,631(2,000)843,351