Summary of Consolidated Financial Statements
for the First Quarter of the Term Ending March 2017 (Japan GAAP)
August 4, 2016
Name of Listed Company: TSUMURA & CO.

Exchange: Tokyo Stock Exchange

Code:

URL:

4540

Representative:
Contact:

http://www.tsumura.co.jp

Position: President & Representative Director
Position: Head of Corporate Communications Dept.
Telephone: 81-3-6361-7100

Name: Terukazu Kato
Name: Noboru Suzuki

Scheduled date of submission: August 5, 2016
Scheduled date of dividend payment commencement: Preparation of supplementary materials for the quarterly financial statements: No.
Holding of the quarterly results briefing: No.
(Figures are rounded down to the nearest one million yen.)

1. Consolidated business results for the first quarter of the term ending March 2016
(from April 1, 2016 to June 30, 2016)(Figures in percentages denote the year-on-year change.)(1) Financial results (year to date)
Net sales
Three month period ended
June 30, 2016
Three month period ended
June 30, 2015
(Note) Comprehensive income

Operating profit

Net income attributableto owners of parent

Ordinary income

Million yen%

Million yen%

Million yen%

Million yen%

28,692

7.24,489-6,2

4,168

-18.8

2,952-5.9

26,760

0.5

4,787

6.1

5,133

15.0

3,136

4.4

Three month period ended June 30, 2016: -316 million yen (－%)
Three month period ended June 30, 2015: 4,868 million yen (198.4%)

Net income per share

Fully diluted net income per share
Yen

Three month period ended
June 30, 2016
Three month period ended
June 30, 2015

Yen

41.87

－

44.48

－(2) Consolidated financial conditions
Total assets
Million yen

As of June 30, 2016
As of March 31, 2016
(Reference) Shareholders’ equity:

Shareholders’equity ratio

Net assets
Million yen%

218,226
152,979
222,468
155,702
As of June 30, 2016: 150,379 million yen

68.9
68.8
As of March 31, 2016: 152,976 million yen

2. Dividends
Dividend per share
End of firstquarterEnd of secondquarter
Yen

End of thirdquarterYen

F Y 3/2016
32.00－
F Y 3/2017－
FY 3/2017 (Projection)
32.00(Note) Revisions to dividends projection published most recently: No

End of fiscal year
Yen

TotalYen

Yen－

32.00

64.00

－

32.00

64.00

3. Projections of consolidated business results for the term ending March 2017 (From April 1, 2016 to March 31, 2017)(Figures in percentage show the rate of increase or decrease from the previous fiscal year for full-year
and from the second quarter of the previous fiscal year for second quarter (aggregate).)Net sales

Operating profit

Net income
attributable to ownersof parent

Ordinary income

Net income
per share

Million yen%

Million yen%

Million yen%

Million yen%

Yen

55,700

2.1

6,200

-37.1

6,300

-37.5

4,500

-31.2

63.81

Full-year
115,400
2.5
14,500 -26.9
15,000 -23.1(Note) Revisions to business results projection published most recently: No

10,700-14.8

151.72

Second quarter(aggregate)

Notes(1) Important changes of subsidiaries during the term(change of specified subsidiaries that lead to a change in the scope of consolidation): No(2) Application of special accounting practices in consolidated quarterly financial statements preparation: Yes(3) Changes in accounting principles and procedures and the method for indication, etc.
1) Changes associated with the revision of accounting principles, etc.:
No2) Change other than 1):
No3) Accounting estimate change:No4) Retrospective restatement:
No(4) Number of shares issued (common stock)1) Number of shares issued at the end of the term(including treasury stock) (shares)
2) Number of treasury stock at the end of the term(shares)
3) Average number of shares during the term (shares)

FY 3/2017 1Q

70,771,662

FY 3/2016

70,771,662

FY 3/2017 1Q

247,631

FY 3/2016

247,631

FY 3/2017 1Q

70,524,031

FY 3/2016 1Q

70,524,573* Indication concerning the condition of carrying-out of the quarterly audit procedure
This Summary of Consolidated Quarterly Financial Statements does not require the quarterly audit procedure based on theFinancial Instruments and Exchange Act. As of the time of disclosure of this Summary of Consolidated Quarterly FinancialStatements, the audit procedure to consolidated quarterly financial statements based on the Financial Instruments and Exchange
Act was not yet completed.

* Explanation about the proper use of financial projections and other important notes(Note about forward-looking information)
In these materials, earnings forecasts and other statements about the future are forward-looking statements based on theinformation currently available and certain assumptions that the Company regards as reasonable. Accordingly, the Company
cannot make promises to achieve such forecasts. Actual financial results may differ materially from these forecasts depending ona number of important factors.

1. Consolidated Financial Statements(i) Consolidated Balance Sheets(Unit: million yen)
As ofMarch 31, 2016
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and stores
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Other
Accumulated depreciation
Total property, plant and equipment
Intangible assets
Investment and other assets
Investment securities
Net defined benefit asset
Other
Allowance for doubtful accounts
Total investment and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Income taxes payable
Provision for sales returns
Other
Total current liabilities
Non-current liabilities
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-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As ofJune 30, 201625,15041,8758,43812,428
31,482
14,298(4)
133,668

24,48941,241
8,091
13,33330,48014,163(4)
131,796

56,226
74,138(67,542)
62,822226

58,44274,751(68,932)
64,261
222

20,119
122
5,510
(2)
25,75088,799222,468

18,175
294
3,476
(0)
21,94686,430218,226

3,157
21,9572,838
16
15,732
43,702

2,916
21,9571,617
16
15,611
42,11915,00066
7,996
23,063
66,76515,00076
8,051
23,12865,247

19,4871,940
122,047(392)
143,084

19,487
1,940
122,593(392)
143,629

3,835
479
2,513
3,549(485)
9,891
2,726
155,702
222,468

3,586(1,361)
2,513
2,445(434)
6,749
2,599
152,979
218,226

(ii) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Quarterly Statements of Income / For the First Quarter Consolidated Accumulative Term
(Unit: million yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating profit
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Foreign exchange gains
OtherTotal non-operating profit
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on disaster
Total extraordinary losses
Income before income taxes
Income taxes
Net imcome
Net income attributable to non-controlling interests
Net income attributable to owners of parent

Three month period ended
June 30, 2015
(From April 1, 2015
to June 30, 2015)

Three month period ended
June 30, 2016
(From April 1, 2016
to June 30, 2016)

26,76010,304
16,455
11,667
4,787

28,692
12,272
16,41911,930
4,489

20
169
0
149
58
398

15
187
－
－
129
333

46－
－
7
53
5,133

38
18
592
4
653
4,168

0
00－
－
－

7－
7
5,125
1,890
3,234
97
3,136

3
4
7
4,161
1,135
3,025
73
2,952

Consolidated Quarterly Statements of Comprehensive Income / For the First Quarter Consolidated Accumulative Term
(Unit: million yen)

Net incomeOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toOwners of parent
Non-controlling interests

Three month period ended
June 30, 2015
(From April 1, 2015
to June 30, 2015)
3,234

Three month period ended
June 30, 2016
(From April 1, 2016
to June 30, 2016)
3,025

1,92019(302)
(0)

(249)
(1,840)(1,271)
51

(3)

(32)

1,633
4,868

(3,342)
(316)

4,804
64

(189)
(127)

(iii) Consolidated Quarterly Statements of Cash Flows

Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses
Share of (profit) loss of entities accounted for using equity
methodLoss (gain) on sales and retirement of property,
plant and equipment
Decrease (increase) in notes and accounts receivable - trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade
Loss (gain) on sales of short-term andlong-term investment securities
Increase (decrease) in net defined benefit asset
Increase (decrease) in net defined benefit liability
Other
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Purchase of short-term and long-term investment securities
Proceeds from sales and redemption of short-term andlong-term investment securities
Payments of loans receivableCollection of loans receivable
Payments into time deposits
Proceeds from withdrawal of time deposits
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Purchase of treasury shares
Cash dividends paid
Dividends paid to non-controlling interests
Other
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents from newly consolidated
subsidiary
Cash and cash equivalents at end of period(iv)Notes to the Consolidated Quarterly Financial Statements
Notes on premise of a going concern
No relevant items.
Notes on case of extreme change in shareholder's equity amountNo relevant items.

Three month period ended
June 30, 2015
(From April 1, 2015
to June 30, 2015)(Unit: million yen)Three month period ended
June 30, 2016
(From April 1, 2016to June 30, 2016)

5,125
1,248
(0)
(190)
46

4,161
1,284
(2)
(203)
38(0)

18

7

3

2,672
(531)
719

607(378)
(420)

(0)

－(154)
(5)
(431)
8,507
212
(46)
(1,051)
7,622

(71)
(20)
2,982
7,998
222
(37)
(2,662)
5,520

(572)
1,200
(3)
(2)

(4,103)
－
(8)
(2)

0－

(801)
1(8)
24(33)
(196)

(0)
1(9)
12(11)(4,122)(0)(2,174)(54)(9)(2,239)(179)
5,007
19,343－(2,187)－(8)(2,195)(151)(948)
25,128－290

24,351

24,470