DigestMay 8, 2002

Brief non-consolidated Financial Report Year ending March 31, 2002

(April 1, 2001 – March 31, 2002)
Listed company name: Asgent, Inc.
Code #: 4288
Head office: 1 9-7 Nihonbashi Koami-cho, Chuo-ku, Tokyo Japan
President & CEO: Takahiro (Shuji) SugimotoContact: Shinji Suzuki, Director of Corporate Development & PlanningPhone #: +81-3 -5 6 4 3-2581
Date of Board of Directors Meeting: May 8, 2002
Adoption of US GAAP: N O
1. Results for the year ending March 31, 2002 (April 1, 2001-, March 31 ,2002)(1) Non -Consolidated Business Results(Millions of yen)
FY2000FY2001
Change(Full Year)(Full Year)Net Sales
2,524
4,157+64.7 %Operating Income
360511+42.0 %Income Before Income Taxes
35250 3+42.7 %Net Income286280(2.1) %Per Share Data:
Average Number of Shares Outstanding
6,840
7,508
―
During the Term
Net Income per share (Yen)¥41,893.24¥ 37,354.01―
Note 1. Investment profit and loss arising from equity method: None
2. Changes to accounting policies: None
3 . C o m p a n y’s fiscal year is April 1-March 31(FY2000=Apr 1, 2000 - Mar 31, 2001, FY2001=Apr 1, 2
001 - Mar 31, 2002)
4. Expenditures related to IPO ¥34,636,000 were fully amortized in F.Y.2001
5. Tax obligation was less due to tax adjustments
6. Including one time accounting large R&D fee granted by MITI for the development of M@gicPolicy,
which contributed to Sales (¥73,312,000) /Profit ‘¥58,635,000) in F.Y. 2000

(2) Non-consolidated financial position (as of March 31, 2002)(Millions of yen)
As of March 31,
As of March 31,20012002
Total Assets
1,474
3,091
Stockholders’ Equity
419
1,827
Equity Ratio
28.4 %
59.1 %Per Share Data:
Outstanding Number of Shares at the term end
6,840
7,840
Stockholders’ Equity (Yen)¥61,299.78¥233,043.69(3) Non-consolidated cash flows (April 1, 2001-March 31, 2002)(Millions of yen)

FY2000(Full Year)
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Cash and Cash Equivalents at the term end

FY2001(Full Year)
165
(33)
(297)
175

2.Forecast of non -consolidated business results for the year ending March 31, 2003
(April 1, 2002 – March 31, 2003)(Millions of yen)

FY2002(Full Year)Net Sales
Net Income
Expected Net Income per share (Yen)

5,480
327
¥41,709.18

66(295)
1,067
1,037

3. Non-Consolidated Financial Statements
3 -1 Non -Consolidated Balance Sheets( In thousand yen, rounded down)
As of March 31,
2001

As of March 31,
2002

AmountRatio

Amount87.1

637,040
1,0 8 9 , 2 7 4400,315
273,189
365
4,493
26,48972,14137,5362,540,844

0.8

15,045
2 8 , 5 92469
44,107

ChangeRatio<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.LandS u b -total
Intangibles Fixed Assets
1.Trademark
2.Software
3.Software Development in Process
4.Others
Sub-total

119,727
730,254
55,354
342,761
5,700
3,897
8,240
18,023
1,283,959
1,792
10,205
11,998
297
1,400
19
1,717

82.2

517,313359,019
344,960(69,571)(5,335)595
18,24872,141
19,513
1,256,885

1.4

13,252
18,386469
32,109744
29,65999,8630.1

130,267

34,995
141,856
176,851
190,567

12.0
12.9

105,555
2,924
38,3701,642
213,053
15,150376,695
551,070103103
1,474,630

0.0
100.0

446
28,25899,863(19)
4.2

128,549

12.2
17.8

105,555
2,924
3,375
1,642
71,19715,150199,844360,5030.0
3 , 0 9 1 , 9 1 5 100.0

(103)
(103)
1,617,284

Investment and Other Asset
1.Investment Securities
2.Investments in Partnership
3.Deposits4.Deferred Taxes
5.Future Foreign Exchange Contracts
6.Others
S u b -total
Total Fixed Assets
Deferred Assets
1.Organization Expenses
Total Deferred Assets
Total Assets

( In thousand yen, rounded down)
As of March 31,
2001

As of March 31,
2002

AmountRatio

Amount71.2

627,951
61,122
18,3522 0 1 ,9 6 723,137
6,620
4,910
27,613285,194
1,256,871

4,957
46
210
5,214
1,055,340

342,000
1,000

ChangeRatio<LIABILITIES>Current Liabilities:
1.Accounts Payable-trade
2.Short -term Debt
3.Accounts payable
4.Accrued Expenses
5.Accrued Income Taxes
6.Consumption Tax Payable
7.Advance Received
8.Deposit Received
9.Reserve for Bonus Payment
10.Deferred hedge profit
Total Current Liabilities
Long-term Liabilities
1.Accrued Pension and Severance costs
2.Deferred Tax Liabilities
3.Others
Total Long-Term 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
Total Liabilities and Shareholders’ Equity

637,792
60,00061,245
11,55973,981
28,5994,646
8,129
16,132148,038
1,050,126

76,29076,290419,290
1,474,630

40.6(9,841)(60,000)
(122)
6,793
127,986(5,462)
1,974(3,219)11,480137,156
206,744

0.4
71.6

7,982
7,982
1,264,853

0.3
40.9

3,025
(46)
(210)
2,768
209,51323.1
0.1

767,000
704,000

24.8
22.8

425,000
703,000

11.5(0 . 0 )
59.1
100.0

2,084
278,369
280,453(681)
1,407,771
1,617,284

5.2
28.4
100.02,084
354,660
356,744(681)
1,827,062
3,091,915

3 -2 Non-Consolidated Statements of Income(In thousand yen, Rounded down)
FY2000(From Apr.1, 2000
to Mar.31, 2001)
AmountRatio

FY2001(From Apr.1, 2001
to Mar.31, 2002)
AmountRatio

Change2,524,065

100.0

4,157,821

100.0

1,633,755

1,614,985

64.0

2,929,805

70.5

1,314,820

909,08036.0

1,228,015

29.5

318,935

21.7
14.3

9,685
53,20847,649222,867
23,4983,5 1 931,487
2,776
23,961
10,751
38,31925,123
18,37770,05041,304
838
9,905
2,500
80,670716,497
511,51717.2
12.3

167,753
151,1810.2

13,67912,787
1,270
27,7370.7

21,752

2,163
1,009
9,485
1,127
13,7850.5

539
34,636
1,049
36,2250.9

22,439Ordinary Profit

352,534

14.0

503,02912.1

150,495

Income Before Income Taxes

352,534

14.0

503,02912.1

150,495

Income Taxes & tax adjustments

65,985

2.6

222,575

5.4

156,590

Net Income

286,549

11.4

280,453

6.7(6,095)Retained Earnings (D eficit) Brought
Forward(210,259)

74,206284,46576,290

354,660

278,369

Ⅰ Net Sales
Ⅱ Cost of Sales
Gross Profit
Ⅲ Selling, General and
Administrative Expenses
1.Transportation
2.Advertising

3.Provision for Bad Debts
4.Director’s Salaries And Remuneration
5.Salaries and Bonus
6.Provision for Bonus
7.Retirement Allowance
8.Legal Welfare
9.Welfare
10.Travel
11.Postage
12.Office Rent
13.Leases
14.Supplies
15.Part -Time Staff
16.Commissions
17.Taxes and Public Dues
18.Depreciation
19.Research and Development
20.Others
Operating Income
Ⅳ Other Income
1.Interest earned
2.Exchange Gain
3.Others
Ⅴ Other Expenses
1.Interest
2.Bond Interest
3.Exchange Loss
4.Stock Issue Expanses
5.Others

Unappropriated retained earnings

3,953
60,0991,622
41,080164,530
15,5595,680
20,2703,535
22,302
9,249
36,015
19,652
9,741
25,202
34,331773
2,325
22,10050,718548,744360,335

958
5,025
5,984<Business Segment Information>(In thousand yen, Rounded down)

Security
Packaged
SoftwareHigh-availability
Solution
Sub-Total

Service (Consultation & MSP)
Grand Total&Data

FY2000(From Apr. 1,
2000 to Mar. 31,2001)

FY2001(From Apr. 1,
2001 to Mar 31,2002)

2,063,027

3,671,057+77.9 %

228,218

2 93,549+28.6 %

2,291,245

3,964,606+73.0 %

232,820

193,214(17.0) %2,524,065

4,157,821+64.7 %

Change*1 Including one time accounting large R&D fee granted by MITI for the development ofM@gicPolicy, which contributed to Sales (¥ 73,312,000) in Service Segment in FY2000. If
excluded this Sales amount from FY2000, the growth rate of Service segment changed from(17.0) % to +21.1%

3 -3 Non-Consolidated Statements of Cash Flows(In thousand yen, Rounded down)

Ⅰ Cash Flow from Operating Activities
Net Income
Adjustments to Reconcile Net Income to Net Cash used
in Operating Activities:
Depreciation and Amortization
Increase (Decrease) in Allowance for Bad Debts
Increase in Reserve for Bonus Payment
Accrual for Pension and Severance Costs, lessPayments
Interest Received
Interest Paid
Exchange Losses
Amortization of Bond Premium
Amortization of Initial Expenses
Costs for Initial Public Offering
Decrease (Increase) in Accounts Receivable -trade
Decrease (Increase) in Inventories
Increase (Decrease) in Accounts Payable-trade
Increase (Decrease) in Accounts Payable
Increase (decrease) in Consumption Tax Payable
Increase in Accrued Expenses Payable
Increase (decrease) in Deposits Received
Increase in Advance Received
Other
Sub-totalInterest Received
Interest Paid
Payment of Initial Public Offering Expenses
Corporate Income Taxes Paid
Net Cash Provided by Operating Activities
Ⅱ Cash Flows from Investing Activities
Payment for Purchases of Investments
Payments for Long-term Deposits
Payments for Purchases of Tangible Fixed Assets
Payments for Purchase of Intangible Fixed Assets
Other
Net Cash Used in Investing Activities
Ⅲ Cash Flows from Financing Activities
Short-term Debts Payments
Long-term Debts Payments
Corporate Bond Payment
Proceeds from Issue of Shares
OtherNet Cash Provided by (Used in) Financing Activities
Ⅳ Effect of Exchange rate Changes on Cash and Cash
Equivalents
Ⅴ Net Increase (Decrease) in Cash and Cash Equivalents
Ⅵ Cash and Cash Equivalents at Beginning of the Fiscal
Year
Ⅶ Cash and Cash Equivalents at End of the Half Year

FY2000(From Apr.1, 2000
to Mar.31, 2001)

FY2001(From Apr.1, 2001
to Mar.31, 2002)

352,534

503,029

2,517
1,622
3,127

10,631
(592)
9,257

4,957

2 ,826

(958)
3,173
5,740
374
103
−(412,842)(330,737)
472,165
31,78428,599
3,682
6,510
4,646
(9,483)
167,517987(2,561)−(486)
165,455(13,679)
539(23,458)−
103
34,636(359,019)
74,906(9,841)(13,578)(5,462)
6,793(3 , 2 1 9 )
1,974(13,707)
202,138
13,679(439)(34,636)(114,037)
66,704(13,803)(12,094)(1,733)(6,352)(33,983)(106,726)(18,525)(33,552)(122,034)(14,840)
295,678(192,248)(30,127)(75,000)−(280)(60,000)−−
1,128,000(210)(297,656)

1,067,789(5,740)23,458(171,923)

862,274

347,006

175,082

175,082

1,037,356

3 -4 Statements of Appropriations(In thousand yen, Rounded down)
FY2000(From Apr.1, 2000
to Mar.31, 2001)
Ⅰ

Unappropriated retained earnings

Ⅱ

Reversal of voluntary earned surplus

ⅢFY2001(From Apr.1, 2001
to Mar.31, 2002)

76,290354,660

Reversal of special depreciation reserve

―

297

Total

76,290354,957

2,084―

74,206354,957

Appropriations of retained earnings
Voluntary earned surplus
Special depreciation reserve

Ⅳ

Retained earnings brought forward to the nextperiod