Summary Report of Consolidated Financial Results
For the Fiscal Year ended March 31, 2013
May 14, 2013stCompany name: NIPRO CORPORATION
TSE/OSE-1 section
Code No.8086
URL: http://www.nipro.co.jp/
Representative: Yoshihiko Sano, President and Representative Director
Contact person: Akihiko Yamabe, Director and General Manager of Accounting Division
TEL: (06)6372-2331
Date of the ordinary general shareholders’ meeting: June 26, 2013
Payment date of cash dividends: June 29, 2012
Filling date of annual reporting: June 26, 2013
Preparation of supplemental material on financial results: Yes
Presentation on annual results: Yes (for institutional investors and analysts)(Note: Amounts are truncated to one million yen)
Consolidated Results for the Year ended March 31, 2013 (From April 1, 2012 to March 31, 2013)

1.

(1) Consolidated Results of Operations
Net sales
Millions of yen %Year ended March 31, 2013
241,020
13.7
Year ended March 31, 2012
212,0138.2
Note: Comprehensive income(Note: % of change from the previous fiscal year)
Operating income
Ordinary income
Net income
Millions of yen %Millions of yen %Millions of yen %11,370(28.2)
14,36319.9
10,231
123.1
15,825(8.1)
11,983(10.4)
4,585
86.7

Year ended March 31, 2013: 14,867 million yen (-%) Year ended March 31, 2012: (19,882) million yen (-%)

Earnings
per share
Yen
59.99
35.30

Year ended March 31, 2013
Year ended March 31, 2012
Note: Equity in profit (loss) of affiliate

Dilutedearnings per
share
Yen
54.12
30.98

Raito of net income
to shareholders’equity%8.9
4.2

Year ended March 31, 2013: (38) million yen

Ratio of ordinary
income to total
assets
%2.7
2.5

Net assets
Millions of yen
128,763
113,950

Note: Equity

Year ended March 31, 2012: 109,820 million yen(3)Equity ratio

Net assets per shareYen
703.47643.94

%
20.7
22.0

Consolidated Cash Flows

Cash flows fromoperating activities
Millions of yen
22,593
15,486

Year ended March 31, 2013
Year ended March 31, 2012

2.

%
4.7
7.5

Year ended March 31, 2012: (84) million yen(2) Consolidated Financial Position
Total assets
Millions of yen
Year ended March 31, 2013
579,302
Year ended March 31, 2012
499,686
Year ended March 31, 2013: 119,973 million yen

Ratio of operating
income to net sales

Cash flows frominvesting activities
Millions of yen(37,431)(67,919)

Cash flows fromfinancing activities
Millions of yen
23,35945,725

Cash and cash
equivalents
Millions of yen
92,62279,449Dividends
Annual dividends per year

Year ending March
31, 2012
Year ending March
31, 2013
Year ending March
31, 2014 (Forecast)

3.

Firstquarter

Secondquarter

Thirdquarter

Year-end
dividends

Annualdividends

Yen

Yen

Yen

Yen

Yen

Millions of yen%

Ratio ofdividends to
net assets(consolidated)
%

-

12.00

-

11.50

23.50

2,722

66.6

3.2

-

12.00

-

15.50

27.50

4,690

45.8

4.1

-

11.00

-

14.50

25.50

Annual totalof dividends

Pay-out ratio(consolidated)

83.6

Forecast of Consolidated Financial Results for the Year ending March 31, 2014 (From April 1, 2013 to March 31, 2014)
Net sales
Millions of yen%

Operating income

Ordinary income

Millions of yen

Millions of yen%%

Net income
Millions of yen%

Earnings
per share
Yen
14.66
30.49

Six months ending Sept. 30 2013
139,000 18.5
7,300
15.8
5,900
21.8
2,500
(62.2)
Year ending March 31, 2013
290,000
20.3
15,40035.4
13,300(7.4)
5,200(49.2)(Note: The % displays in the line of six months ending Sept. 30, 2012 show increase/decrease ratio against the six months ended Sept. 30,
2011. The % displays in the line of Year ending March 31, 2013 show increase/decrease ratio against the year ended March 31, 2012)

4. Others(1) Change in Significant Subsidiaries during the Current Period(Change in specified subsidiaries caused a change in the scope of consolidation): Yes
Additional: 1 (Corporate name: GOODMAN CO., LTD.)
Removal: 0(2) Change in Accounting Policies and Accounting Estimate and Restatement[1] Changes in accounting policies by a newly issued accounting pronouncement: Yes[2] Changes other than [1]: No[3] Change in accounting estimate: Yes[4] Restatement: No
Note: Depreciation method was changed from the current fiscal year, which is applied to “Changes in accounting
policies which are difficult to distinguish from changes in accounting estimates”. Detailed information can be found in
P.18 “4. Consolidated Financial Statements (7)Change in Significant Matter of Basis of Preparation for Consolidated
Financial Statements” in the attachment.
(3) Issued Shares (Common stock)[1] Number of issued shares at end of the period (including treasury stock)
Year ended March 31, 2013: 171,459,479 sharesYear ended March 31, 2012: 171,459,479 shares[2] Number of treasury stock at end of the period
Year ended March 31, 2013: 914,107 sharesYear ended March 31, 2012: 913,612 shares[3] Average number of shares during the period
Year ended March 31, 2013: 170,545,769 sharesYear ended March 31, 2012: 129,911,933 shares(Reference) Overview of the Unconsolidated Financial Results
1.

Unconsolidated Results for the Year ended March 31 ,2013 (From April 1, 2012 to March 31, 2013)(1) Results of Operations

Year ended March 31, 2013
Year ended March 31, 2012

Net sales
Millions of yen %144,965
6.7
135,804(5.5)
Earnings per share

Year ended March 31, 2013
Year ended March 31, 2012

Yen
57.79
43.30

(Note: % of change from the previous fiscal year)
Operating income
Ordinary income
Net income
Millions of yen %Millions of yen %Millions of yen %10,438(6.1)
13,971
40.1
9,856
75.2
11,115(16.4)
9,970
(4.5)
5,624
(14.2)
Diluted earnings
per share
Yen
52.13
37.99

(2) Financial Position
Total assets
Millions of yen
441,707421,504

Year ended March 31, 2013
Year ended March 31, 2012
Note: Equity Year ended March 31, 2013: 135,837 million yen

Net assets
Millions of yen
135,837
135,737

Equity ratio
%
30.8
32.2

Net assets per shareYen
796.49795.90Year ended March 31, 2012: 135,737 million yen*Information regarding the review procedure
This report is exempt from auditing procedure based on the Financial Instruments and Exchanges Act. It is
under the auditing process at the time this report is disclosed.
*Disclaimer regarding projection information including appropriate use of forecasted financial result, and otherspecial notes
The projection figures shown above are based on information that was available at the time of preparation andmay contain certain uncertainties. Actual performance and other factors may differ from these projections due tochanges in circumstances and other developments. More information concerning these forecasts can be found in
P.2 “1.Business Result”.

Table of Contents

1.

Business Results

2(1) Analysis Concerning Business Results

2(2) Analysis Concerning Financial Position

3(3) Basic Policies on Distribution of Profits and Dividends
for Years ended March 31, 2012 and ending March 31, 2013

42.

Corporate Group

4

3.

Management Policies

7(1)

Basic Policies of Management

7(2)Target Management Indicators

7(3)

Medium- to Long-term Management Strategies

7(4)Issues and Challenges that the Group Faces

7

4.

5.

6.

Consolidated Financial Statements

8(1) Consolidated Balance Sheets

8(2) Consolidated Statements of Income andConsolidated Statements of Comprehensive Income

10

(3)

Consolidated Statements of Shareholders’ Equity

12

(4)

Consolidated Statements of Cash Flows

14

(5)

Notes Related to Going Concern

16

(6)

Basis of Preparation for the Consolidated Financial Statements

16

(7)

Change in Significant Matter of Basis of Preparation for Consolidated Financial Statements

18

(8)

Additional Information

18

(9)

Notes to the Consolidated Financial Statement

18(Notes to the Consolidated Balance Sheets)

18(Notes to the Consolidated Statements of Income)18(Notes to the Consolidated Statements of Shareholders’ Equity)

19(Segment Information)

20(Per Share Information)

23(Material Subsequent Event)24

Non-consolidated Financial Statements

25(1) Non-consolidated Balance Sheets

25(2) Non-consolidated Statements of Income andNon-consolidated Statements of Comprehensive Income

28(3) Non-consolidated Statements of Shareholders’ Equity

29

Others32

Changes in Directors

32

-1-

1.

Business Results(1) Analysis Concerning Business Results[1] Overview of business results for the current period
In the current period under review (the year ended March 31, 2013), the global economy gradually shows a sign ofrecovery because the personal consumption was steady and increase in employment also continued in America eventhough European financial crisis become shackles clipping world economic progress.
Japanese economy, on the other hand, was slowly recovering with the demand for reconstruction from Great East
Japan Earthquake. In addition, export is expected to increase due to the sharp depreciation of the yen for the year,
and it is hoped to realize a departure from prolonged deflation.
Under such situation, the Nipro Group continued to work hard for expanding and strengthening our manufacturing andsales bases in order to increase our sales and improve our profit.
As a result, the consolidated net sales in this fiscal year ended March 31, 2013 increased 13.2% from the previous
year to 241,020 million yen. As for the profit, consolidated operating income decreased 28.2% from the previous year
to 11,370 million yen due to the increase in selling, general and administrative expense, and consolidated ordinary
income increased 19.9% from the previous year to 14,363 million yen due to the increase in non-operating income
caused by foreign exchange gain and the decrease in non-operating expenses. The consolidated net income increased
123.1% from the previous year to 10,231 million yen because of the gain on sales of investment securities anddecrease in extraordinary losses.
The overviews of the results by segment are as follows.
a. Medical-related BusinessLooking at the domestic market, business conditions remained extremely severe because the market competition
was intensified due to the effect of revision of medical treatment fee and the reduction of official prices for drugs andmedical materials. However, each product group recorded good sales as a result of our aggressive sales activities andimprovement of sales efficiency aiming to expand our share.
Our medical-equipment-related products such as dialysis system and our dialysis-related products such as HDF filter,blood circuits and dialysis pharmaceuticals showed strong growth. The sales of our testing-related products such as
glucose analysis device (POCT) and vacuum blood drawing system, enteral-alimentation-related products andinjection-transfusion-related products also steadily increased.
As for the overseas sales, it suffered through the appreciation of the yen against the dollar and the euro during theyear. However, we have promoted the expansion of the sales bases all over the world and aimed to realize the stablesales activities in each country. As a result of these activities and yen’s sharp fall, the overseas sales showed great
increase from the previous year.
By product, the sales of dialysis-related products such as dialyzer and blood glucose monitoring device increased
steadily as a result of our local based sales activities.
In addition, we encouraged to expand our sales network to developing countries such as Myanmar and Bangladesh
based on the idea of “local production for local consumption” to appropriately introduce desirable products in medical
front.
As a result, net sales of this business increased 15.5% from the previous year to 167,531 million yen.
b. Pharmaceutical-related Business
On October 1, 2012, pharmaceutical business division was newly established to enforce the control function of ourgroup subsidiaries. This business division includes the following departments: the contracted manufacturing
department for offering high value-added products to meet customer needs, the collaborative promotion department forhandling generic drugs featuring our unique pharmaceutical technique, the development and sales department forsuitable container and dosing devise for each pharmaceutical, sales department of the container for pharmaceutical
purpose and pharmaceutical research center. This integration can realize more flexible development and contracted
manufacture of pharmaceutical products with more suitable devises and containers. We expect to provide unique,value-added and high quality pharmaceutical products.
Sales of generic drugs are expected to grow in line with the market, due in part to a government policy for the
dissemination of the market for generic drugs to over 30% by the end of fiscal year 2012. Consequently a number ofpolicies have been implemented to encourage the use of generic products. Major pharmaceutical manufacturers havemade a full-scale entry into the Japanese market and foreign generic manufacturers have strengthened their marketingstrategies, making the competitive environment surrounding the domestic market more severe.
Under these conditions, we worked hard to increase the share of the oral drug by the close co-operation with drug
wholesalers while reinforcing our sales promotions to dispensing pharmacies, prescribing hospital and doctor’s office.
In addition, as a result of our detailed information service provided mainly to large hospitals, the sales in the current
year showed steady increase.
Looking at the sales of our contracted manufacturing business, we focused on providing a variety of services such as
contracted development and supporting high value-added initiatives other than OEM manufacturing of othercompanies’ brand. In addition, encouraging the contracted manufacturing by collaboration with generic sales divisionand new drug development division of domestic and foreign major pharmaceutical manufacturers, the sales in thecurrent year exceeded by far those in the previous year.
As for the pharmaceutical containers, medical-preparation- and administration-related devices, the sales showed
good increase because we provided suitable container and system for each pharmaceutical product to meet a variety
needs in medical front such as bags for antimicrobial agent or osteoporosis and pre-filled syringes in addition to rubber
stoppers for pharmaceutical and vaccine use and kit form containers. These container and system were developed byour own development or joint development with pharmaceutical companies based on our processing techniques forplastics, metal and rubber. Furthermore, under the restrictive policy for medical cost, we continue to promote contract-2-

manufacturing and development cooperating with domestic and foreign pharmaceutical companies in general life cycle
management of pharmaceuticals, which includes the development of combination products, systematization for
self-injection and modification of dosage form.
As a result, net sales of this business increased 10.9% from the previous year to 66,212 million yen.
c. Glass-related Business
As for the sales of material glass tube for ampoule and tube bottles, total sales decreased slightly from the previous
year because the demand of material glass for ampoule decreased in home and abroad while material glass for tube
bottle showed fine sales.
On the other hand, the sales of tube bottles increased from the previous year due to the demand increase of tube
bottle for vaccine. As for the pharmaceutical glass business in China, the effect of the boycott campaign to Japanese
products was worried but the sales increased a little from the previous year by promoting sales activities.
The sales of glass for thermos bottles could not achieve the last year’s sales that included the special demand of
Great East Japan Earthquake. The market was stabilized and the sales decreased from the previous year. Regarding
the glass for lighting purpose, the order of material glass tube for electric lamp and electric lamp production decreasedby the boycott campaign of Japanese products in China. In addition, a trend away from glass for electric lamp was
accelerated by popularization of LED and the sales decreased from the previous year.
As a result, net sales of this business increased 1.3% from the previous year to 7,041 million yen
d. Other BusinessIn the other business, the sales from real estate rental income increased 10.5% from the previous year to 234 million
yen.
[2] Prospects of business results for the fiscal year ending March 31, 2014
Looking at the global economy, the approach to financial reconstruction can be burden in America even though theconcern about debt problem in Europe is getting eased. Economic vitiosus cycle remains and we are still under theunpredictable situation. In Japan, economic boost policies conducted by new administration are expected but we stillneed to pay attention the way to full-scale departure from deflation
In spite of being under these circumstances, Nipro Group will work hard to make a progress and develop our businessby wide selection of products and development of high-value added products.
We project the consolidated net sales of 290,000 million yen (up by 20.3% from the previous year), operating incomeof 15,400 million yen (up by 35.4% from the previous year), ordinary income of 13,300 million yen (down by 7.4% fromthe previous year), and net income of 5,200 million yen (down by 49.2% from the previous year), for the fiscal year
ending March 31, 2014.

(2)

Analysis Concerning Financial Position[1] The conditions of assets, liabilities, and net assets
Total assets increased 79,616 million yen from the end of the previous year to 579,302 million yen. Current assets
increased 37,538 million yen mainly due to the increase of 10,262 million yen in cash and deposits and the increase of
15,023 million yen in notes and accounts receivable-trade, and noncurrent assets increased 42,078 million yen mainly
due to the increase of 15,078 million yen in building and structures, and the increase of 13,726 million yen in machinery,equipment and vehicles.
Total liabilities increased 64,803 million yen from the end of the previous year to 450,539 million yen. Current liabilities
increased 24,669 million yen mainly due to the increase of 23,106 million yen in short-term loans payable, andnoncurrent liabilities increased 40,134 million yen mainly due to the increase of 24,526 million yen in long-term loans
payable.
Total net assets increased 14,812 million yen from the end of the previous year to 128,763 million yen. Shareholders’equity increased 6,399 million yen and accumulated other comprehensive income increased 3,753 million yen.
[2] The condition of cash flow
The ending balance of cash and cash equivalents in the period under review increased 13,173 million yen from theprevious year to 92,622 million yen.
(Cash flows from operating activities)
Net cash provided by operating activities was 22,593 million yen. The main accounts of cash inflow were income
before income taxes and minority interests, 18,058 million yen and depreciation and amortization, 21,209 million yen.
The main accounts of cash outflow were the increase of trade notes and accounts receivable, 8,965 million yen andpayment of corporate income tax, 6,287million yen.
(Cash flows from investing activities)
Net cash used in investing activities was 37,431 million yen. The main accounts of cash outflow were payments forpurchase of investment securities, 12,025million yen, and purchase of noncurrent assets, 37,794 million yen.
(Cash flows from financing activities)
Net cash provided by financing activities was 23,359 million yen. The main accounts of cash inflow were proceedsfrom long-term loans payable, 61,629 million yen, and the main account of cash outflow was repayment of long-termloans payable, 43,039 million yen.

-3-[3] Trend of the cash flow indicatorsth

The 57 period
Year ended
March 31, 2010
29.8

th

The 58 period
Year ended
March 31, 2011
22.4

th

The 59 period
Year ended
March 31,2012
22.0

th

The 60 period
Year ended
March 31,2013
20.7

Shareholders’ equity ratio (%)
Ratio of market value of
29.9
21.9
21.1
24.6
shareholders’ equity (%)
Debt redemption (years)
7.1
12.6
19.3
15.5
Interest coverage ratio
11.4
9.1
4.8
6.6
Note: Shareholders’ equity ratio = Shareholders’ equity / Total assets
Ratio of market value of shareholders’ equity = Aggregate market value of the outstanding share / Total assets
Debt redemption = Interest-bearing liabilities / Cash flow from operating activities
Interest coverage ratio = Cash flow from operating activities / Interest payments
Each indicator is calculated from consolidated financial data,
Aggregate market value of the outstanding share is calculated as the share price at the fiscal year-end multipliedby the number of issued shares (excluding treasury stock)
Cash flow from operating activities is taken from cash flows from operating activities on the consolidated statementof cash flows. Interest-bearing liabilities represent all liabilities represent all liabilities on the consolidated balance
sheets for which interest is payable. The amount of interest payments is taken from the payments of interests on
the consolidated statement of cash flows.
(3)

Basic Policies on Distribution of Profits and Dividends for years ended March 31, 2013 and ending March 31, 2014
As we position profit return in the important management measure, our policy is that 50% of the non-consolidated net
income is to be distributed to shareholders.
Retained earnings are to be invested in the sales and production facilities as well as in research and development, inview of enlarging the firm management basis and long-term business developments, so as to ensure stable andcontinuous growth.
According to the above-mentioned policy, annual dividends are calculated to be 27.50 yen per share. As we alreadypaid interim dividends of 12.00 yen per share, year-end dividends are to be 15.50 yen per share to be proposed to thethCompany’s 60 ordinary general meeting of shareholders.
Dividends for year ending March 31, 2014 are expected to be made under our basic policy of placing importance on
profit return while giving consideration to the balance with retained earnings considering the increase of capital demand
for the future.

2.

Corporate GroupOur group consists of the Reporting Company (“the Company”), its 64 subsidiaries and 2 affiliated, and is primarily
engaged in manufacture and sale of medical equipment, pharmaceutical products and material products such as glass
for pharmaceutical purpose and glass for thermos bottles.
Positioning of each company in connection with the businesses of our group and the relation to the business segment
are as follows:<Medical-related Business>
Domestic:

The Company, Nipro Medical Industries, Co., Ltd. and Goodman Co., Ltd. manufacture medical
equipment, and the Company and Goodman Co., Ltd. sell medical equipment manufactured by its
foreign subsidiaries.
Cell Science & Technology Institute, Inc., an affiliate, develops, manufactures and sells
cell-culture-related products.

Overseas:

Nipro (Thailand) Corporation Ltd. (Thailand), Nipro (Shanghai) Co., Ltd. (China) and Nipro Medical
LTDA. (Brazil) purchase some of raw materials and machinery for their production from the Company,
manufacture medical equipment, and sell through the Company and its subsidiaries as well as locallyon their own.
Nipro Europe N.V. (Belgium), Nipro Medical Corporation (U.S.A.) and Nipro Trading (Shanghai) Co.,
Ltd. (China) and other sales subsidiaries purchase the products mainly from the Corporation and sell
medical equipment etc. in the areas of their locations.
Nipro Diagnostics, Inc. (U.S.A) manufactures and sells diabetes-related products and Nipro JMI
Pharma Ltd. (Bangladesh) manufactures and sells pharmaceutical products focusing on the area of
their location.
In addition, Nipro Tube Glass Ltd. (India), Nipro Glass Americas Corporation (U.S.A) and othersubsidiaries manufacture and sell glass tube and glass containers for medical purpose focusing on theireach location.

<Pharmaceutical-related Business>
The Company, Nipro Pharma Corporation, Zensei Pharmaceutical Industries Co., Ltd., Tohoku Nipro
Pharmaceutical Corporation and Nipro Patch Co., Ltd. manufacture and sell pharmaceutical products.
Yuki Gosei Kogyo Co., Ltd., an affiliated company, manufactures and sells active pharmaceuticalingredient etc.

-4-

< Glass-related Business>
Domestic:

The Company sells glass tubes as well as manufactures and sells glass products.

Overseas:

Shanghai Nissho Vacuum Flask Refill Co., Ltd. (China) sells internal glass sections of vacuum flask
and other glass products. Chengdu Pingyuan Nipro Pharmaceutical Packaging Co., Ltd. (China) andJilin Nipro Jiaheng Pharmaceutical Packaging Co., Ltd. manufacture and sell material glass tube, tube
bottles and ampoule.

<Other business>
The Company manufactures (purchases, in some cases) and sells production machinery for medical
equipments and is engaged in leasing of real estate properties.
Nissho Insurance Services Co., Ltd. operates non-life insurance agency business mainly for thegroup companies.
Sanri Kosan Co., Ltd., the other related company, is engaged in leasing of real estate properties.

The above explanations are illustrated as follows:-5-

（Domestic）
Medical-related Business(Overseas)
Medical-related Business<Manufacture><Manufacture and Sale>◎Nipro Medical Industries, Co., Ltd-Medical Equipment◎Nipro (Thailand) Corporation Ltd.

<Manufacture and Sale>◎Nipro (Shanghai) Co., Ltd◎Goodman Co., Ltd.

◎Nipro Medical LTDA.

◎Goodtec Co., Ltd.

and 6 other subsidiaries

and 1 other subsidiary<Sale><Development, Manufacture and Sale>◎Nipro Europe N.V■Cell Science & Technology Institute, Inc.

◎Nipro Medical Corporation◎Nipro Trading (Shanghai) Co., Ltd.
and 17 other subsidiaries

Pharmaceutical-related Business<Manufacture and Sale>◎Nipro Pharma Corporation<Manufacture and Sale>◎Zensei Pharmaceutical Industry Co., Ltd.
◎Tohoku Nipro Pharmaceutical Corporation◎Nipro Patch Co.,Ltd.

<Manufacture and Sale>■Yuki Gosei Kogyo Co., Ltd.

Other Business<Non-life insurance agency>○Nissho Insurance Services Co., Ltd.

N
i
p
r
o

<Manufacture and Sale>-Medical Equipment◎ Nipro Diagnostics, Inc.
and 7 other subsidiaries-Pharmaceuticals-

C
o
r
p
o
r
a
t
i
o
n

◎Nipro JMI Pharma Ltd.

-Glass products for Medical Purpose◎Nipro Tube Glass Ltd.
◎Nipro Glass Americas Corporation
and 9 other subsidiaries

Pharmaceutical-related Business<Manufacture and Sale>○Nipro Pharma Vietnam Co., Ltd.

<Real-estate rental business>△Sanri Kosan Co., Ltd.

Glass-related Business<Sale>◎Shanghai Nissho
Vacuum Flask Refill Co., Ltd.

Supply of products and merchandises
Supply of raw materials<Manufacture and Sale>

Other transactions◎Chengdu Pingyuan Nipro
Pharmaceutical Packaging Co., Ltd.
◎Jilin Nipro Jiaheng◎Consolidated subsidiary○Unconsolidated subsidiary■Affiliated company△Other related company

Pharmaceutical Packing Co., Ltd.
and 2 other subsidiaries

-6-

3.

Management Policies(1) Basic Policies of Management
Since our foundation of year 1954, the Company has a business philosophy of contribution to the society throughcorporate activities with the concept of “technology innovation”. We develop and provide our unique products andservice through the eye of customer to solve the problems and meet the needs in medical front. Moreover, we manage
our business with imagination to create additional value for customer considering the improvement of patients’ QOL(Quality of Life).
In addition, considering the idea that the balance between “stability” and “growth” is most important for a company, we
implement the “performance-linked remuneration system” that is the rule of profit sharing among shareholders,
employees and management, and carry out active business operations, holding the employees responsible for boosting
the performance of individual businesses.
(2) Target Management Indicators
Our performance targets were to achieve 1,000,000 million yen of consolidated net sales by the fiscal year 2030. And
as a first step, we aim to achieve 500,000 million yen of consolidated net sales and 40,000 million yen of ordinary
income by the fiscal year 2020. To realize these goals, we are going to move towards steady development in each field;
medical, pharmaceutical, and glass businesses.
(3) Medium- to Long-term Management Strategies
The Group adopts a basic policy and corporate strategies aiming to increase our share in the global market andexpand sales by means of strengthening cost-competitiveness and increasing the production capacity in the fields thatis expected to increase the demands.
In Medical-related Business, we will increase our market share by expanding the range of merchandise and promoting
a new market development of dialysis-related products, mainly dialyzer, diabetes-related products and vascular-related
products. Especially about dialysis-related products, we will establish production and sales systems all over the world
so as to aim a top share in the global market.
In addition, in April, 2013, the Company’s sales division focusing on medical equipment and the sales division forpharmaceutical products in Nipro Pharma Corporation were integrated. Because of this, our sales division cancomplete a wide variety of needs of customer and medical staff with our comprehensive sales system supported byboth divisions’ advantages. Regarding generic drug, Health, Labor and Welfare Ministry shows a roadmap to promote
the usage of generic drug and increase the amount share up to 60% by 2017. The demand of generic drug is expected
to expand widely, so we will keep focusing on the continuous development of new items and create marketing networksof DPC hospital and dispensing pharmacies while pursuing the synagetic effect of coordination between sales divisionof medical equipment and pharmaceutical products.
In the contract manufacturing division of Pharmaceutical-related Business, we are going to enhance our business as
one of the top group of pharmaceutical contract manufacturing companies. We will improve production and quality
control systems in response to the overseas demands while making full use of manufacturing equipments ofbiomedicine and anticancer drug constructed in 2012. Furthermore, overseas manufacturing base will start its operating
to realize the world wide supply of pharmaceutical products with more stable supply capability and the strong costcompetitiveness. Also we will take advantage of our techniques and other management sources shared in our threebusinesses to develop our unique systemized pharmaceutical products that pursue convenience and safety of patientsand medical staff.
As for Glass-related Business, we have cultivated our technology of glass processing through our business
management. Based on this technique, we will work hard to develop high quality container for medical purpose andother products to promote sales activity.
(4) Issues and Challenges that the Group Faces
In the domestic business of the Medical-related Business, we will put effort into development of products with least
adverse impact on environment and safety-conscious design for medical care in each field of transfusion-related
products, dialysis-related products, diabetes-related products, vascular-related product and CVS-related products.
Thus we will work on development of products friendly to healthcare professionals, patients and global environment,
and promote positive market development and sales reinforcement with the products which meet the diversifying needs
and seeds of market to raise the performance.
In overseas business, we will provide desirable products in medical front appropriately to expand our sales network.
With manufacturing and sales in developing counties, we will promote our bland image and improve our system torealize higher sales result.
In the Pharmaceutical-related Business, the situation of domestic generic market is getting more sever. We will
establish our presence in the market and strengthen our price competitiveness. In addition, it is also urgent issue torealize the stable growth in the medium- and long- term by rapid establishment of development, production and sales
system including containers and devices of generic anticancer drug and biosimilar.
In Glass-related Business, glass for medical purpose needs to build up the stable system for manufacturing and salesof high quality products with good manufacturing technique. To realize this system, we will conduct relocation and new
construction of domestic glass processing plant and upgrade its facilities. As for the overseas glass plant, we will do
expansion of the building, upgrade of facilities and development of manufacturing environment. We will promote thestandardization of our high-quality glass product and aim to expand our sales in global market.

-7-

4. Consolidated Financial Statements(1) [ Consolidated Balance Sheets](Millions of yen)
As ofMarch 31, 2012
AssetsCurrent Assets
Cash and deposits
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Bulidings and structures
Accumulated depreciation and impairment loss
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation and impairment loss
Machinery equipment and vehicles, net
Land
Lease assets
Accumulated depreciation
Lease assets, net
Construction in progress
Other
Accumulated depreciation and impairment loss
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Lease assets
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

-8-

As of
March 31, 2013

95,737
68,641
48,114
8,753
14,736
4,829
9,983
(360)
250,435

106,000
83,66553,89910,48017,275
5,375
11,741(463)
287,974

116,878(63,320)
53,558142,067(103,263)
38,804
20,446
1,680
(735)
944
26,95728,317(23,350)
4,967
145,678

138,547(69,911)
68,636
170,522(117,991)
52,53022,1733,203(2,029)1,174
23,78633,113(26,712)6,400
174,702

11,894305
6,950
19,151

22,740567
10,95834,26571,8296,597
8,954(2,961)
84,420249,250499,686

63,141
8,805
13,767(3,353)82,360291,328
579,302

(Millions of yen)
As ofMarch 31, 2012
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Commercial papers
Current portion of bonds
Lease obligations
Accounts payable-otherAccrued directors' bounuses
Income taxes payable
Provision for bounuses
Provision for directors' bounuses
Provision for loss on business liquidation
Notes payable-facilities
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Convertible bond-type bonds
with subscription rights to shares
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for retirement benefits
Provision for directors' retirement benefits
Provision for loss on litigation
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Minority interests
Total net assets
Total liabilities and net assets

-9-

As of
March 31, 2013

37,721
104,131
10,00010,000
426
6,036
153
3,276
2,308
43
1,954
3,399
9,636
189,089

40,878127,238
10,000
1,277
1,011
8,286
316
4,266
2,810
70
1,954
3,734
11,912
213,758

34,00047,147

15,00014,900140,380
914
1,761
1,987
702
170
1,729
196,645
385,735

164,906
2,040
2,212
2,854
742
218
1,757
236,780
450,539

84,397636
48,389(864)
132,558

84,397636
54,788(865)
138,957(6,528)(16,209)(22,737)
4,129
113,950499,686(12,547)(6,436)(18,983)
8,789
128,763579,302(2) [Consolidated Statements of Income and Consolidated Statement of Comprehensive Income]Consolidated Statements of Income

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Exchange loss
Equity in loss of affiliates
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
State subsidy
Reversal of provision for loss on disaster
Gain on sales of investment securities
Other
Total extraordinary income
Extraordinary loss
Loss on sales of noncurrent asssets
Loss on retirement of noncurrent assets
Impairment loss
Loss due to disaster
Loss on reduction of noncurrent assets
Settlement package
Other
Total extraordinary losses
Income before income taxes and minority interests
Income taxes-current
Income taxes-deferred
Total income taxes
Income before minority interests
Minority interests in income
Net income

FY2011(From April 1, 2011
to March 31, 2012)
212,013
149,253
62,76046,934
15,825(Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)
241,020
175,31465,70654,336
11,370

581
805
－
1,000
2,386

959
1,755
3,062
1,231
7,010

3,308
1,997
84
838
6,228
11,983

3,447
－
38
531
4,017
14,363

210
694
1,456
－
47
2,409

54
764
－
4,167
245
5,231

18
540
529
1,340
109
－
833
3,370
11,022
6,202
(196)
6,005
5,016
430
4,585

5
368
2
－
770
214
174
1,536
18,058
6,865
574
7,439
10,619387
10,231- 10 -

Consolidated Statements of Comprehensive Income

Income before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income
Comprehensive income
attributable to shareholders of parent company
Comprehensive income
attributable to minority interests

FY2011(From April 1, 2011
to March 31, 2012)
5,016(Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)
10,619(17,914)(6,983)(24,898)(19,882)(6,017)
10,265
4,248
14,867(20,257)

13,984375

882- 11 -

(3) [Consolidated Statements of Shareholders' Equity]

FY2011(From April 1, 2011
to March 31, 2012)
Shareholder's equity
CapitalBalance at beginning of year
Increase (decrease) during the period
Transfer to capital stock from capital surplus reserve
Issue of new shares
Issue of new shares (exercise of share options)
Net increase (decrease) during the period
Balance at end of year
Capital Surplus
Balance at beginning of year
Increase (decrease) during the period
Transfer to capital stock from capital surplus reserve
Disposal of treasury stock
Net increase (decrease) during the period
Balance at end of year
Earned surplus
Balance at beginning of year
Increase (decrease) during the period
Dividend of surplus
Net income
Change of scope of consolidation
Other
Net increase (decrease) during the period
Balance at end of year
Treasury stock
Balance at beginning of year
Increase (decrease) during the period
Acquisition of treasury stock
Disposal of treasury stock
Net increase (decrease) during the period
Balance at end of year
Total Shareholders' equity
Balance at beginning of year
Increase (decrease) during the period
Dividend of surplus
Net income
Transfer to capital stock from capital surplus reserve
Issue of new shares
Issue of new shares (exercise of share options)
Acquisition of treasury stock
Disposal of treasury stock
Change of scope of consolidation
Other
Net increase (decrease) during the period
Balance at end of year

- 12 -(Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)

28,66384,39729,336
19,3977,000
55,73484,397－－－－84,397

29,972

636(29,336)(0)(29,336)
636

－
(0)
(0)
636

46,631

48,389(2,758)
4,585
(68)
(0)
1,757
48,389(4,007)
10,231
320
(144)
6,399
54,788

(864)

(864)

(0)
0
(0)
(864)

(0)
0
(0)
(865)

104,403

132,558(2,758)
4,585－
19,397
7,000
(0)
0
(68)
(0)
28,155132,558(4,007)
10,231
－
－
－
(0)
0
320
(144)
6,399
138,957

FY2011(From April 1, 2011
to March 31, 2012)
Accumulated other comprehensive income
Valuation differences on available-for-sale secrities
Balance at beginning of year
Increase (decrease) during the period
Net increase (decrease) of the items other thanshareholders' equity during the period
Net increase (decrease) during the period
Balance at end of year
Foreign surrency translation adjustment
Balance at beginning of year
Increase (decrease) during the period
Net increase (decrease) of the items other thanshareholders' equity during the period
Net increase (decrease) during the period
Balance at end of year
Total accumulated other comprehensive income
Balance at beginning of year
Increase (decrease) during the period
Net increase (decrease) of the items other thanshareholders' equity during the period
Net increase (decrease) during the period
Balance at end of year
Minority interests
Balance at beginning of year
Increase (decrease) during the period
Net increase (decrease) of the items other thanshareholders' equity during the period
Net increase (decrease) during the period
Balance at end of year
Total net assets
Balance at beginning of year
Increase (decrease) during the period
Dividend of surplus
Net income
Issue of new shares
Issue of new shares (exercise of share options)
Acquisition of treasury stock
Disposal of treasury stock
Change of scope of consolidation
Other
Net increase (decrease) of the items other thanshareholders' equity during the period
Net increase (decrease) during the period
Balance at end of year

- 13 -(Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)

11,387(6,528)(17,916)(6,018)(17,916)(6,528)(6,018)(12,547)(9,281)(16,209)(6,927)

9,772(6,927)(16,209)

9,772(6,436)

2,106(22,737)(24,843)

3,753(24,843)(22,737)

3,753(18,983)

2,527

4,129

1,601

4,659

1,601
4,129

4,659
8,789

109,037

113,950(2,758)
4,585
19,397
7,000
(0)
0
(68)
(0)

(4,007)
10,231
－
－
(0)
0
320
(144)

(23,241)

8,413

4,913
113,950

14,812
128,763(4) [ Consolidated Statements of Cash Flows ](Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)

FY2011(From April 1, 2011
to March 31, 2012)
Net cash provided by (used in) operating activities
Income before income taxes and minority interests
Depreciation and amortization
Impairment loss
Amortization of goodwill
Equity in (earnings) losses of affiliates
Increase (decrease) in allowance for doubtful accounts
Interest and dividends income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sales of investment securities
Decrease (increase) in notes and accounts receivable-trade

Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable-trade

Decrease (increase) in other assets
Increase (decrease) in other liabilities
Other loss (gain)
SubtotalInterest and dividends income received
Interest expenses paid
Other proceeds
Other payments
Income taxes paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Payments for purchase of investment securities
Proceeds from sales of investment securities
Payments for purchase of investments in
subsidiaries
resulting in change in scope of consolidation
Purchase of investment in subsidiaries
resulting in change in scope of consolidation
Payments for investment in capital
Payments for purchase of noncurrent assets
Proceeds from sales of noncurrent assets
Payments for retirement of noncurrent assets
Proceeds from governmental subsidies
for investment in property and equipment
Net decrease (increase) in short-term loans receivable
Payments of loans receivable
Proceeds from collection of loans receivable
Other payments
Other proceeds
Net cash provided by (used in) investment activities- 14 -

11,022
21,581
529
2,651
84
(71)
(1,386)
3,308
1,968
－
(7,490)(10,923)
4,909(1,365)(1,938)727
23,607
1,467(3,226)250(465)(6,146)
15,486

18,05821,209
2
2,834
38
193
(2,715)
3,447(1,693)(4,164)(8,965)(3,182)
(830)
518
4,653
156
29,561
2,720(3,439)361(322)(6,287)22,593(16,806)
2,107(3,552)
10(6,514)
14,290(12,025)
5,817(10,404)(2,385)

－

3,215

－
(39,730)442(11)(3,367)(37,794)
151
(96)

362

53

1,078
(1,373)70(120)
8(67,919)

1,813
(518)
148
(347)
128
(37,431)

FY2011(From April 1, 2011
to March 31, 2012)
Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayment of long-term loans payable
Proceeds form issuance of bonds
Redemption of bonds
Proceeds from issuance of common stock
Proceeds from stock issuance to minority shareholders

Decrease (increase) in treasury stock
Repayments of finance lease obligations
Cash dividends paid
Cash dividends paid to minority shareholders
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 equivalentsfrom newly consolidated subsidiary
Cash and cash equivalents at end of period- 15 -(Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)(3,653)63,893(33,499)
7,973(5,000)19,180－(0)(410)(2,754)(4)
45,725(2,287)(8,995)78,921

9,444
61,629(43,039)
9,941(10,000)
－
261
(18)
(750)
(3,996)(12)
23,3593,030
11,55279,449

9,523

1,620

79,44992,622

(5) Notes Related to Going Concern
N/A(6) Basis of Preparation for the Consolidated Financial Statements
1) Scope of consolidation[1] Consolidated subsidiaries: 56
Name of representative consolidated subsidiaries,

・
・
・
・
・
・

Nipro Medical Industries, Ltd.
Nipro Europe N.V.
Nipro Diagnostics, Inc.
Tohoku Nipro Pharmaceutical Corporation
Nipro India Corporation Pvt Ltd.
Goodman Co.,Ltd.

・
・
・
・
・

Nipro (Thailand) Corporation Ltd.
Nipro Medical Corporation
Nipro Pharma Corporation
Nipro Patch Co.,Ltd.
Nipro Medical (Hefei) Co., Ltd.

Goddman Co., Ltd and other 10 companies were acquired their shares, PT Nipro Indonesia JAYA and other 4companies increased in materiality and Nipro Poland SP. ZO. O was established newly. For these reasons, above
companies are included in scope of consolidation from the consolidated fiscal year 2013.
Nipro Genepha Corporation was absorbed by Nipro Pharma Corporation, consolidated subsidiary of the Company,
on October 1, 2012 and excluded from scope of consolidation from the consolidated fiscal year 2013.
[2] Name of representative unconsolidated subsidiary･

Salbego Laboratorio Farmaceutico Ltda.

The unconsolidated subsidiaries are small-sized companies, whose combined total assets, net sales, net income
and earned surplus in the aggregate (averaged for recent 5 years) are not material to the consolidated financial
statements.
2) Application of equity method[1] Number of affiliate accounted for by the equity method: 0
Bipha Corporation was excluded from scope of application of equity method from the consolidated fiscal year 2013
because all of its stock the Company held was transferred.
[2] Name of representative unconsolidated subsidiary not accounted for by the equity method:
Salbego Laboratorio Farmaceutico Ltda.
Name of affiliate not accounted for by the equity method:

Yuki Gosei Kogyo Co., Ltd.

The equity method is not applied to the unconsolidated subsidiaries and the affiliate company, since they are notmaterial to the consolidated net income (amounts worth to equity) and earned surplus(amounts worth to equity) etc.,
either individually or in the aggregate.
3) Accounting period of consolidated subsidiaries
Among the main consolidated subsidiaries, accounts closing date of the foreign subsidiary is December 31.
Consolidated financial statements as of that date are used in preparing for consolidated financial statements, andnecessary adjustments are made to reflect significant transactions that occurred between December 31 and March
31.
4) Accounting principles and practices[1] Valuation standards and methods for significant assets
Securities
Available-for-sale securities
Securities with market quotations ---------- Valued at the market price quoted on the balance sheet date.
(Differences in valuation are presented as a component ofshareholders’ equity. Costs are determined by the weighted
average method.)
Securities without market quotations -------- Valued at cost by the weighted average method
Inventories
Valued at cost by the weighted average method (Writing down method below cost to the net selling value fordecreased profitability)
Derivatives transaction
Valued at the market price- 16 -

[2] Method of depreciation and amortization for significant depreciable assets
Property, plant and equipment ----- Mainly Declining-balance method(Excluding lease assets)
However, buildings acquired after April 1, 1998 (excluding attached structures),are depreciated by straight-line method.
The foreign subsidiaries use straight-line method.
Lease assets
Lease assets under the finance lease transaction that does not transfer ownership---------- Recorded by straight-line method its useful lives are equals to the lease term
and the residual values are equal to zero.
We still have adopted the similar manner to an ordinary rental transaction for
the finance lease transactions that do not transfer ownership and the starting
dates of the lease transactions were before March 31, 2008.
[3] Standards for recognition of significant allowances
Allowance for double accounts ---- In order to cover the probable losses on collection, an allowance for doubtful
accounts is provided for the estimated amount of uncollectible receivables.
For general receivables, the amount of provision is based on historical write-off
rates, and for the doubtful receivables, based on the specific collectability.
Provision for bonuses ---------------- In order to cover the payment of bonuses to employees, an allowance isprovided for the estimated amount of bonuses to be paid, prorated for the
consolidated accounting period.
Provision for directors’ bonuses ---- In order to cover the payment of bonuses to directors and corporate auditors, anallowance is provided for the estimated amount of bonuses to be paid, prorated
for the consolidated accounting period.
Provision for loss on
business liquidation ------- In connection with withdrawal from retail business which we sold the shares of
the consolidated subsidiaries, the estimated loss at the end of the consolidated
accounting period is posted for disposal of land, building and other properties tobe sold accordingly.
Provision for
retirement benefits -------- An allowance is provided for employee’s pension and severance payments
based on the estimated amounts of projected benefit obligation and plan assets
at the end of the consolidated accounting period.
Past service liabilities are expenses mainly for five years using the straight line
method.
Actuarial difference is expensed in the following consolidated accounting
period after the year of such recognition, using the straight-line method for five
years.
Provision for
directors’ retirement benefits ------- An allowance is provided for severance indemnity for directors and corporate
directors based on the amounts to be paid at the end of the consolidated
accounting period.
Provision for loss on litigation ------ In order to cover the probable losses on lawsuit, an allowance for loss isprovided for the estimated amount acceptable as needed.
[4] Amortization of goodwill
Goodwill is amortized using the straight-line method over the estimated benefit period of the asset.
[5] Range of cash and cash equivalent carried on the consolidated cash flow statement.
Cash and cash equivalent carried on the cash flow statement consist of cash on hand, cash in banks that are able
to withdraw as needed, and short-term investment that will be matured within three months after acquisition, easy to
be converted into cash without much risks from fluctuation of prices.

- 17 -

[6] Significant method of hedge accounting
Method of hedge accounting
The deferral hedge accounting method is applied in principle. Designation accounting is used for foreignexchange swap that meet the requirements for designation accounting, and exceptional accounting is used forinterest rate swap that meet the requirements for exceptional accounting.
Hedge instrument and hedge items[Hedge instruments]
Foreign exchange swaps
Interest rate swaps[Hedge items]
Foreign currency borrowings
Borrowings

Hedge policy
The Company uses foreign exchange swaps and interest rate swaps to mitigate the foreign currency risk andthe interest rate risk involved in procuring funds and hedge items are identified on an individual contract basis.
Method for evaluating the validity of hedges
For items covered by designation or exceptional accounting, the validity of the hedge is not evaluated.
[7] Other significant basis on preparation for consolidated financial statements
Consumption taxes
Consumption taxes are excluded from revenues and expenses accounts and consumption taxes unqualified
for deduction for tax purposes for assets, etc. are reported as period expenses in the consolidated accounting
period.
(7) Change in Significant Matter of Basis of Preparation for Consolidated Financial Statements
Changes in accounting policies which are difficult to distinguish from changes in accounting estimates
Effective from the current fiscal year, the Company and its domestic subsidiaries changes the depreciation method
for the relevant tangible assets newly acquired from April 1, 2012 according to the amendment of Corporation Tax
Act in Japan.
As a result, consolidated operating income, consolidated ordinary income and consolidated net income increased
by 389 million yen for each compared with the previous method..

(8) Notes to the Consolidated Financial Statement(Notes to the Consolidated Balance Sheets)(Previous period)
1) Pledged assets(Current Period)

11,555

mil.yen32,330mil.yen19

mil.yen37

mil.yen

12,209mil.yen2,157

mil.yen

Other of investments and other assets―(Investments in capital)
4) Accounting practices of notes with maturity date of March 31, 2013

mil.yen3,384

mil.yen2) Discounted notes receivable3) Accounts related to unconsolidated subsidiaries
and affiliate companies
Investment securities (stock)

The balance sheet date for the year ended March 31, 2013 fell on a bank holiday. Consequently, notes
with maturity date of March 31, 2013 were included in the following accounts.
(Previous period)(Current Period)
Notes-receivable trade

1,103

mil.yen

1,302

mil.yenNotes-payable trade393

mil.yen503

mil.yen(Notes to the Consolidated Statement of Income)(Previous period)
Research and development expenditure included inselling general and administrative expenses andmanufacturing cost.

- 18 -

5,956

mil.yen(Current Period)
6,464

mil.yen(Notes to the Consolidated Statements of Shareholders’ equity)
Previous period (From April 1, 2011 to March 31, 2012)
1. Sort and total numbers of shared issues
Sort of shares
Number of shares
Increased
Decreased
Number of shares
as of April 1, 2011
numbers
numbers
As of March 31, 2012
Common stock
63,878,505
107,580,974
171,459,479(Note) The increased numbers are of two-for-one stock split, 63,878,505 shares, public stock offering, 28,700,000
shares, capital increase by way of third-party allotment, 4,200,000 shares, and execution of stock acquisitionrights of subordinated bonds with stock acquisition rights, 10,802,469 shares.
2. Sort and numbers of treasury stock
Sort of shares
Number of shares
Increased
Decreased
Number of shares
as of April 1, 2011
numbers
numbers
As of March 31, 2012
Common stock
456,420457,358
166
913,612(Note) 1. The increased numbers are of two-for-one stock split, 456,869 shares, and purchase of shares which
number is less than unit amount, 489 shares.
2. The decreased numbers are of selling of shares which number is less than unit amount.
3. Dividends(1) Amount of dividends paid
Decision
June 28, 2011at ordinary generalshareholders’ meeting
November 10, 2011
at board of directors meeting

Sort of shares

Total amount ofdividends paid

Common stock

Millions of yen
1,997

Dividends
per shares
Yen
31.50

Common stock

Millions of yen
761

Yen
12.00

Basis date

Effective date

March 31,2011

June 29, 2011

September 30,2011

December 9, 2011

(2) Dividends of basis date belonging to the consolidated accounting period to its effective date be in the next
consolidated accounting period.
Sort ofProceeds ofTotal amount of
Dividends
Effective
Scheduled Decision
Basis datedividends paid
sharesdividends
per shares
date
June 28, 2012at ordinary generalshareholders’ meeting

Commonstock

EarnedsurplusMillions of yen
1,961

Yen
11.50

March 31, 2012

June 29, 2012

Current period (From April 1, 2012 to March 31, 2013)
1. Sort and total numbers of shared issues
Sort of shares
Number of shares
as of April 1, 2011
Common stock
171,459,479

Increased
numbers

Decreased
numbers--

Number of shares
As of March 31, 2012
171,459,479

2. Sort and numbers of treasury stock
Sort of shares
Number of shares
Increased
Decreased
Number of shares
as of April 1, 2011
numbers
numbers
As of March 31, 2012
Common stock
913,612625
130914,107(Note) 1. The increased numbers are of purchase of shares which number is less than unit amount.
2. The decreased numbers are of selling of shares which number is less than unit amount.
3. Dividends(1) Amount of dividends paid
Decision
June 28, 2012at ordinary generalshareholders’ meeting
November 9, 2012
at board of directors meeting

Sort of shares

Total amount ofdividends paid

Common stock

Millions of yen
1,961

Dividends
per shares
Yen
11.50

Common stock

Millions of yen
2,046

Yen
12.00

Basis date

Effective date

March 31,2012

June 29, 2012

September 30,2012

December 10, 2012

(2) Dividends of basis date belonging to the consolidated accounting period to its effective date be in the next
consolidated accounting period.
Sort ofProceeds ofDividends
Effective
Total amount of
Scheduled Decision
Basis datedividends paid
sharesdividends
per shares
date
June 26, 2013at ordinary generalshareholders’ meeting

Commonstock

EarnedsurplusMillions of yen
2,643- 19 -

Yen
15.50

March 31, 2013

June 27, 2013

(Segment Information)[Segment Information]
1. Outline of reportable operating segments
Applied ASBJ Statement No.17 “TheAccounting Standard for Disclosures of Segments of an Enterprise and RelatedInformation”, the reportable operating segments are components of an entity for which separate financial information isavailable and evaluated regularly by the board of director in determining the allocation of management resources and inassessing performance. We currently operate our business on a stand-alone basis with the divisional organization andevaluate the performance of sales and manufacture of each division regardless of their products. Accordingly, we divide
our operations into 3 reportable operating segments on the basis of its main products: Medical-related,
Pharmaceuticals-related and Materials-related.

*Medical-relatedDomestic division sells injection- and infusion-related products, artificial organ-related products, highly functional
products, dialysis-related products and diabetic-related products. In the international division, head office plays the centerrole and place overseas sales and manufacturing base for medical equipment and sales injection- and infusion-related
products, artificial organ-related products and diabetic-related products.
*Pharmaceutical-related
Pharmaceutical business division sells container for combination products and sells pharmaceuticals frompharmaceutical companies on a consignment basis. Domestic subsidiaries sell and manufacture injectable drug, oral
drugs and combination products (Kit injectable).
*Materials-related
In the field of glass for pharmaceutical purposes, we sell glass for glass tube, glass for ampoule. In the field of glass &materials products, we sell glass for thermos bottles and glass for lighting purpose.
2. Method of calculating sales and profit by reportable operating segment
The accounting process of the segments follows the accounting principles and practices listed in Basis of Preparation for
the Consolidated Financial Statements. Profit of the segment is based on operating income. Internal revenue and transfer
to revenue between segments are based on the market realized price.
3. Information on amount of sales, profit or loss, assets and other items by reportable segment
FY2011 (From April 1, 2011 to March 31, 2012)(Millions of yen)
Total

Adjustment(Note.2)

Consolidated
financialstatements(Note.3)

Reportable Segment
Other(Note.1)

Medical-related

Pharmaceutical-related

145,082

59,715

6,953

211,750262

212,013-212,013

Glass-relatedTotal

Net sales(1)Sales to third parties(2)Inter-segment sales
and transfers
Total
Segment profit

1,851

6,331

465

8,648

45

8,693

(8,693)-

146,933
17,07766,046
4,939

7,419
454

220,399
22,471

307
230

220,70722,702(8,693)(6,876)

212,013
15,825

Segment assets

219,306

120,795

11,792351,894

4,591

356,486

143,199499,686

12,352

8,095

279

20,72747

20,775805

21,581

2,403

150

98

2,651

-

2,651

-

2,651

-

-

-

-

-

-

1,678

1,678

23,943

13,8291,063

38,836-

38,836687

39,524

Other items(1) Depreciationamortizationand(2) Amortization of goodwill(3) Investment to companies
accounted for by theequity method(4) Increase in tangible andintangible fixed assets(Note)

1. “Other” is the business segment which is not included in the reporting segment and consist of real estate
income and sales by headquarter.
2. Adjustment is as follows.
(1) Adjustment for the segment profit of (6,876) million yen includes elimination of inter-segment transaction of
108 million yen and corporate cost of (6,985) million yen. Corporate cost consists primarily of sales, generaland administrative expenses and research and development cost which do not belong to the reporting
segment.

- 20 -

(2) Adjustment for the segment assets of 143,199 million yen includes elimination of inter-segment transaction of(3,147) million yen and corporate assets of 146,347 million yen. Corporate assets consisted primarily of cash
and deposit, investment securities, assets for development and assets for management division of head
office which do not belong to the reporting segment.
(3) Adjustment for depreciation and amortization of 805 million yen is for corporate assets. Depreciation andamortization and increase in tangible and intangible fixed assets include long-term prepaid expenses.
(4) Adjustment for increase in tangible and intangible fixed assets is increase in corporate assts.
3.
Segment profit is adjusted to the operating income on the consolidated statements of income.

FY2011 (From April 1, 2012 to March 31, 2013)(Millions of yen)
Total

Adjustment(Note.2)

Consolidated
financialstatements(Note.3)

Reportable Segment
Other(Note.1)

Medical-related

Pharmaceutical-related

167,531

66,212

7,041

240,785234

241,020-

241,020

Glass-relatedTotal

Net sales(1)Sales to third parties(2)Inter-segment sales
and transfers
Total
Segment profit

1,277

6,906

490

8,674

45

8,719

(8,719)-168,808
14,557

73,119
3,988

7,532
330

249,460
18,876280
220

249,740
19,097(8,719)(7,726)

241,020
11,370

Segment assets

295,895

132,829

15,942444,666

4,542

449,209130,093579,302

11,843

8,191

318

20,35349

20,402807

21,209(6) Amortization of goodwill

2,733

(0)

101

2,834

-

2,834

-

2,834

(7) Increase in tangible andintangible fixed assets

24,163

10,3402,212

36,715-36,715

1,281

37,997

Other items(5) Depreciationamortization(Note)

4.

and1. “Other” is the business segment which is not included in the reporting segment and consist of real estate
income and sales by headquarter.
2. Adjustment is as follows.
(1) Adjustment for the segment profit of (7,726) million yen includes elimination of inter-segment transaction of(43) million yen and corporate cost of (7,683) million yen. Corporate cost consists primarily of sales, generaland administrative expenses and research and development cost which do not belong to the reporting
segment.
(2) Adjustment for the segment assets of 130,093million yen includes elimination of inter-segment transaction of(51,045) million yen and corporate assets of 181,138 million yen. Corporate assets consisted primarily ofcash and deposit, investment securities, assets for development and assets for management division of head
office which do not belong to the reporting segment.
(3) Adjustment for depreciation and amortization of 807 million yen is for corporate assets. Depreciation andamortization and increase in tangible and intangible fixed assets include long-term prepaid expenses.
(4) Adjustment for increase in tangible and intangible fixed assets is increase in corporate assts.
3.
Segment profit is adjusted to the operating income on the consolidated statements of income.

Change in Reportable Segment(1) From this third quarter period ended December 31, 2012, the name of business segment was changed partially and“Materials” is displayed as “Glass-related”.
This change is just only for the name, and there is no difference about business segment itself from the previous year.
(2) Entity conversion was conducted from this third quarter period ended December 31, 2012 in order to enforce
Pharmaceutical-related business and build a strong cooperative relationship between medical-related,
Pharmaceutical-related and Glass-related business. Following this conversion, some business divisions include in
Glass-related Business were changed to Pharmaceutical-related Business.
Based on this idea, the segment information of the previous year was revised.

- 21 -

[Related Information]
FY2011 (From April 1, 2011 to March 31, 2012)
1. Information for each product and service
Disclosure is omitted as the same information is disclosed in segment information.
2. Information for each area
(1) Net sales
Japan

America

129,237

Europe40,519(2)Property, plant and equipment
Japan

23,140America

102,275

19,116

Europe8,391(Millions of yen)
Total

Asia

(Millions of yen)
Total

Asia
3,310

212,01331,700145,678

3. Information about impairment loss on fixed assets by reportable segments(Millions of yen)
Reportbale segment
Pharmaceutical-related

Medica-related

529

Total

Glass-related

-

-

Other
529

Total
-

529

4. Information about unamortized balance of goodwill by reportable segment(Millions of yen)
Reportbale segment
Pharmaceutical-related

Medica-related

Balance of theficical year-end

11,539

Total

Glass-related

(3)

359

Other

11,894

Total-

11,894FY2012 (From April 1, 2012 to March 31, 2013)
1. Information for each product and service
Disclosure is omitted as the same information is disclosed in segment information.
2. Information for each area
(1) Net sales
Japan

America

138,961

Europe46,311(2) Property, plant and equipment
Japan32,372

America

102,525

23,375

Europe12,199(Millions of yen)
Total

Asia

(Millions of yen)
Total

Asia
7,869

241,020

52,107

174,702

3. Information about impairment loss on fixed assets by reportable segments(Millions of yen)
Reportbale segment
Pharmaceutical-related

Medica-related

2

Total

Glass-related

-

-

Other
2

Total
-

2

4. Information about unamortized balance of goodwill by reportable segment(Millions of yen)
Reportbale segment
Medica-related

Balance of theficical year-end

22,441

Pharmaceutical-related

Glass-related8- 22 -

290

Total
22,740

Other

Total
-

22,740(Per Share Information)
Previous period(From April 1, 2011
to March 31, 2012)

Current period(From April 1, 2012
to March 31, 2013)

Net assets per share

643.94 yen

703.47 yen

Earnings per share

35.30 yen

59.99 yen

Diluted Earnings per share

30.98 yen

54.12 yen

(Note)

1. The Company has split one share of common stock into two shares on October 1, 2011 based on the
resolution at the board of directors’ meeting held on August 27, 2011.
2. Net assets per share, earnings per share and diluted earnings per share are calculated on the assumptionthat the two-for-one stock split of common stock was conducted at the beginning of fiscal year 2010.

Base of the calculation is as follow;
1. Net assets per share
Previous period(As of March 31, 2012)

Current period(As of March 31, 2013)

113,950

128,763

Amount to be deducted from total net assets in B/S(Million yen)
Minority interests

4,129

8,789

Net assets related to the common stocks(million yen)

109,820

119,973

Common stocks issued (Thousands shares)

171,459

171,459

913

914

170,545

170,545

Total net assets in B/S (million yen)

Treasury stocks of common stock (Thousands shares)
Number of common stocks utilized for computation of net
assets per share (thousand shares)

2. Earnings per share and diluted earnings per share
Previous period(From April 1, 2011
To March 31, 2012)

Current period(From April 1, 2012
To March 31, 2013)

Earnings per share
Net income (Million yen)

4,585

10,231--

Net income related to the common stock (Million yen)

4,585

10,231

Average shares of the common stock during the period(Thousands shares)

129,911

170,545--

18,13818,518--Amount not attributed to the common stock (Million yen)

Diluted earnings per share
Net income adjustment (Million yen)
Number of common stockincreased
Stock acquisiton right (thousand shares)
Overview of the potential shares not included in thecomputation of diluted earning per share because of nothaving a dilutive effect- 23 -

(Material Subsequent Event)Acquisition and Tender Offer of Treasury Stock
It was resolved at the Board of Directors meeting of May 14, 2013 to acquire treasury stock specifically bymeans of tender offer (“Tender Offer”) pursuant to Article 156, Paragraph 1, applied with certain replacement ofterms as provided in Article 165, Paragraph 3 of the Company Act (Law No. 86 of 2005, as amended, “theCompany Act”) and the provisions of its Articles of Association.
1. Purpose of Tender Offer
The Company’s basic principle is to be a comprehensive medical care company and contribute the society
through leading-edge medical and our long-cultivated technique to support people’s better lives, health, safety,
sanitation and welfare all over the world. Under this principle, the Company has promoted aggressive businessdeployment from home and abroad in the main fields of medical equipment, pharmaceutical and glass products.
Hereafter, the Company will work hard to reflect the needs of the patients to products manufacturing and service
provision. Also the Company promotes stable expansion of its business with the creative management abilities
to generate additional values for customer. On the other hand, the Company enters next stage to raise
profitability, so the Company aim to realize an optimum capital structure based on the previous aggressive
investment and loan while driving new investment and loan. With efficiency of management setup, radical cost
reduction, effective utilization of asset and human resource and strengthening of intergroup partnership, theCompany set a goal to achieve 500,000 million yen of consolidated net sales and 40,000 million yen of ordinary
income by the fiscal year 2020.
The Company has reviewed its future capital policy as well. According to the Report of Possession of Large
Volume of Shares (Change report No.7 and 8) pertaining to the Company’s common shares submitted by Sanri
Kosan Co., Ltd on January 24, 2013(“Sanri Kosan”), Sanri Kosan holds 36,809,000 shares of the Company’scommon share (account for 21.47% of the Company’s total issue stock), as of January 17, 2013. Mr. Minoru
Sano, the previous representative director of the Company who passed away on May 8, 2012, doubled as therepresentative director of Sanri Kosan. Sanri Kosan held the above-mentioned Company’s common shareincluding the shares acquired by conducting all bonds with stock acquisition rights in order to participate in the
Company’s management as a stable shareholder. However, the representative director of Sanri Kosan waschanged and the purpose of holding the Company’s share was also changed from the participation in
management to net investment in the Change Report of the Report of Possession of Large Volume of Shares. In
addition, the Report says that there is no transaction and no common director between Sanri Kosan and theCompany. Based on these changes, the Company has considered the concrete response to the possibility thata large amount of the Company’s common share is released in the future. In light of the Company’s
management policy and business plan to increase profitability and the Company’s capital policy and financial
situation to aim the strong financial standing, the Company considers it an appropriate way to acquire therelevant common shares as treasury stock based on a comprehensive assessment of the liquidity of theCompany’s common shares and impact on the market price therefore as a result of the one-time release of alarge amount of shares on the market. With regard to the specific method, the Company judged, upon careful
review from the perspectives of shareholders equality and transactional transparency, that the method of tender
offer would be appropriate. The maximum number of stock to be acquired in the Tender Offer was determined to
be 37,721,000 shares (account for 22.00% of the Company’s total issue stock) with the aim of offering an
opportunity for subscription to the shareholders other than Sanri Kosan.
With the process explained above, the Company resolved at its Board of Directors meeting held on May 14,
2013 to implement the Tender Offer as a specific method of acquiring treasury stock pursuant to Article 156,
Paragraph 1, which is applied with replacement provided in Article 165, Paragraph 3 of its Articles of
Association.
2. Outline of Tender Offer, etc.
(a) Class of Shares

Common Stock(b) Total number of Shares

37,721,000 shares(c ) Purchase Price

862 yen per share(d) Funds required for Purchase

32,539 million yen(e) Period of Tender Offer

From May 15, 2013 (Wednesday) through June 11, 2013
(Tuesday)- 24 -(20 business days in Japan)

5. Non-consolidated Financial Statements(1) [ Non-consolidated Balance Sheets](Millions of yen)
As ofMarch 31, 2012
AssetsCurrent Assets
Cash and deposits
Notes receivable-trade
Accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Advance payments-trade
Prepaid expenses
Deferred tax assets
Short-term loans receivable from subsidiaries and affiliates
Accounts receivable-otherConsumption taxes receivable
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Bulidings
Accumulated depreciation and impairment loss
Buildings, net
Structures
Accumulated depreciation and impairment loss
Structures, net
Machinery, equipment
Accumulated depreciation and impairment loss
Machinery equipment, net
VehiclesAccumulated depreciation and impairment loss
Vehicles, net
Tools, furniture and fixtures
Accumulated depreciation and impairment loss
Tools, furniture and fixtures, net
Land
Lease assets
Accumulated depreciation
Lease assets, net
Construction in progress
Total property, plant and equipment- 25 -

As ofMarch 31, 2013

55,06013,87339,99322,122
3,847
3,952
3,088
364
1,554
1,865
1,389
410
712
(98)
148,136

61,55914,197
46,913
19,700
4,227
4,039
2,283
185
1,732
709
1,497
507
663
(71)
158,147

37,163(24,312)
12,8501,892(1,477)415
49,554(39,199)
10,355102(100)
213,804(12,605)
1,198
11,434
497
(251)
246
422
36,92538,356(25,042)
13,314
1,969(1,517)451
50,409(42,619)
7,790
96
(93)
3
14,523(13,003)
1,520
11,432
846
(406)
440
282
35,236

(Millions of yen)
As ofMarch 31, 2012
Intangible assets
Patent right
Right of trademark
SoftwareLease assets
Telephone subscription right
Other
Total intangible assets
Investments and other assets
Investment securities
Stocks of subsidiaries and affiliates
Investments in capital
Investments in capital of subsidiaries and affiliates
Long-term loans recievable
Long-term loans receivable from subsidiaries and affiliates
Claims provable in bankruptcy,
claims provable in rehabilitation and other
Long-term prepaid expenses
Deferred tax assets
Other
Allowance for doubtful accounts
Allowance for investment loss
Total investments and other assets
Total noncurrent assets
Total assets
Liabilities
Current liabilities
Notes payable-trade
Accounts payable-trade
Short-term loans payable
Current portion of long-term loans payable
Commercial papers
Current portion of bonds
Lease obligations
Accounts payable-other
Directors' bonuses payable
Accrued expenses
Income taxes payable
Advances received
Deposits received
Provision for bounuses- 26 -

As ofMarch 31, 2013

31
1
557
298
23
1
913

25
2
668
539
23
281
1,541

57,877
136,939
129
35,583
3,447
1,376

59,232
139,564
036,593
3,398
2,731

381

343

733
7,774
432
(2,609)(6,538)
235,528
273,367
421,504

711
8,918
485
(2,569)(2,629)246,781283,559441,707

11,321
22,08427,50032,245
10,00010,000
192
2,869
153
674
1,350
14
91
1,000

10,61421,98632,00030,65910,000
－
338
3,795
316
694
2,600
25
126
1,049

(Millions of yen)
As ofMarch 31, 2012
Provision for loss on business liquidation
Notes payable-facilities
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Convertible bond-type bonds
with subscription right s to shares
Long-term loans payable
Lease obligations
Provision for retirement benefits
Provision for directors' retirement benefits
Provision for loss on litigation
Long-term guarantee deposited
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Legal capital surplus
Other capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for dividends
Reserve for advanced depreciation of noncurrent assets
General reserve
Retained earnings brought forward
Total retained earnings
Treasury stock
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Total valuation and translation adjustment
Total net assets
Total liabilities and net assets- 27 -

As ofMarch 31, 2013

1,954
295
236
121,984

1,954
1,994
722
118,878

33,00043,00015,00014,900112,768
380
740
535
170
1,187
163,782285,766

125,417
692
1,026
563
218
1,172
186,990
305,869

84,39784,397

635
0
636

635
0
636

1,272

1,673

16
98
53,0355,070
59,492(864)
143,661

16
98
56,035
7,518
65,340(865)
149,509(7,924)(7,924)
135,737
421,504(13,672)(13,672)
135,837
441,707(2) [Non-consolidated Statements of Income and Non-consolidated Statement of Comprehensive Income]Non-consolidated Statements of Income(Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)

FY2011(From April 1, 2011
to March 31, 2012)
Net sales
Net sales of finished goods
Net sales of goods
Rent income of real estate
Total net sales
Cost of sales
Beginning finished goods
Beginning goods
Cost of products manufactured
Purchase of finished goods
Cost of purchased goods
Cost of real estate rent
Total
Ending finished goods
Ending goods
Total cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Interest on bonds
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
State subsidy
Gain on sales of subsidiaries and affiliates' stocks
Other
Total extraordinary income
Extraordinary loss
Loss on retirement of noncurrent assets
Loss on valuation of investment securities
Loss on reduction of noncurrent assets
Settlement package
Provision for loss on litigation
Other
Total extraordinary losses
Income before income taxes and minority interests
Income taxes-current
Income taxes-deferred
Total income taxes
Net income- 28 -

109,340
26,156
307
135,804

115,892
28,792
280
144,965

13,416
6,147
40,80542,913
21,98077
125,340
15,6206,501
103,218
32,586
21,47011,115

15,6206,501
40,19644,49423,823
59
130,696
13,965
5,735
110,995
33,96923,531
10,438

116
1,661
－
628
2,405

140
2,189
3,110
478
5,918

1,645
621
881
402
3,550
9,970

1,598
550
－
237
2,385
13,971

105
74
－
15
195

7
－
2,506
0
2,514

60
3
52
－
－
45
160
10,005
3,680
699
4,380
5,624

128
－
－
214
48
42
433
16,052
4,368
1,827
6,196
9,856

(3) [Non-consolidated Statements of Shareholders' Equity](Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)

FY2011(From April 1, 2011
to March 31, 2012)
Shareholder's equity
CapitalBalance at beginning of year
Increase (decrease) during the period
Transfer to capital stock from capital surplus reserve
Issue of new shares
Issue of new shares (exercise of share options)
Net increase (decrease) during the period
Balance at end of year
Capital surplus
Capital reserve
Balance at beginning of year
Increase (decrease) during the period
Transfer to capital stock from capital surplus reserve
Net increase (decrease) during the period
Balance at end of year
Other capital surplus
Balance at beginning of year
Increase (decrease) during the period
Disposal of treasury stock
Net increase (decrease) during the period
Balance at end of year
Total capital surplus
Balance at beginning of year
Increase (decrease) during the period
Transfer to capital stock from capital surplus reserve
Disposal of treasury stock
Net increase (decrease) during the period
Balance at end of year
Earned surplus
Earned reserve
Balance at beginning of year
Increase (decrease) during the period
Provision of legal retained earnings
Net increase (decrease) during the period
Balance at end of year
Other earned reserve
Reserve for dividends
Balance at beginning of year
Increase (decrease) during the period
Net increase (decrease) during the period
Balance at end of year

- 29 -

28,66384,39729,336
19,3977,000
55,73484,397－－－－84,397

29,972

635(29,336)(29,336)
635

－
－
635

0

0

(0)
(0)
0

(0)
(0)
0

29,972

636(29,336)(0)(29,336)
636

－
(0)
(0)
636

1,196

1,272

76
76
1,272

400
400
1,673

16

16

－
16

－
16

FY2011(From April 1, 2011
to March 31, 2012)
Reserve for advanced depreciation of noncurrent assets
Balance at beginning of year
Increase (decrease) during the period
Increase of reserve for the change of effective tax rate
Net increase (decrease) during the period
Balance at end of year
General reserve
Balance at beginning of year
Increase (decrease) during the period
Provision of general reserve
Net increase (decrease) during the period
Balance at end of year
Earned surplus carried forward
Balance at beginning of year
Increase (decrease) during the period
Dividends of surplus
Net income
Provision of legal retained earnings
Increase of reserve for the change of effective tax rate
Provision of general reserve
Net increase (decrease) during the period
Balance at end of year
Total earned surplus
Balance at beginning of year
Increase (decrease) during the period
Dividends of surplus
Net income
Provision of general reserve
Provision of legal retained earnings
Increase of reserve for the change of effective tax rate
Net increase (decrease) during the period
Balance at end of year
Treasury stock
Balance at beginning of year
Increase (decrease) during the period
Acquisition of treasury stock
Disposal of treasury stock
Net increase (decrease) during the period
Balance at end of year

- 30 -(Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)

90

98

7
7
98

－
－
98

49,73553,0353,300
3,300
53,0353,000
3,000
56,035

5,588

5,070

(2,758)
5,624
(76)
(7)
(3,300)
(518)
5,070

(4,007)
9,856
(400)
－
(3,000)
2,447
7,518

56,62659,492(2,758)
5,624
－
－
－
2,865
59,492(4,007)
9,856
－
－
－
5,848
65,340

(864)

(864)

(0)
0
(0)
(864)

(0)
0
(0)
(865)

FY2011(From April 1, 2011
to March 31, 2012)
Total Shareholders' equity
Balance at beginning of year
Increase (decrease) during the period
Dividend of surplus
Net income
Transfer to capital stock from capital surplus reserve
Issue of new shares
Issue of new shares (exercise of share options)
Acquisition of treasury stock
Disposal of treasury stock
Net increase (decrease) during the period
Balance at end of year
Valuation and translation differences
Valuation differences of available-for-sale secrities
Balance at beginning of year
Increase (decrease) during the period
Net increase (decrease) of the items other thanshareholders' equity during the period
Netincrease (decrease) during the period
Balance at end of year
Total valuation and translation differences
Balance at beginning of year
Increase (decrease) during the period
Net increase (decrease) of the items other thanshareholders' equity during the period
Netincrease (decrease) during the period
Balance at end of year
Total net assets
Balance at beginning of year
Increase (decrease) during the period
Dividend of surplus
Net income
Issue of new shares
Issue of new shares (exercise of share options)
Acquisition of treasury stock
Disposal of treasury stock
Net increase (decrease) of the items other thanshareholders' equity during the period
Netincrease (decrease) during the period
Balance at end of year

- 31 -(Millions of yen)
FY2012(From April 1, 2012
to March 31, 2013)

114,398

143,661(2,758)5,624－
19,3977,000(0)029,263
143,661(4,007)
9,856
－
－
－
(0)
0
5,847
149,509

9,581(7,924)(17,505)(5,748)(17,505)(7,924)(5,748)(13,672)

9,581(7,924)(17,505)(5,748)(17,505)(7,924)(5,748)(13,672)

123,979

135,737(2,758)5,624
19,3977,000(0)
0(4,007)
9,856
－
－
(0)
0

(17,505)(5,748)11,757
135,73799
135,837

6.

OthersChanges in Directors(1) Change in representative of the company
N/A(2) Change in other directors or statutory auditors

1)

2)

Candidate for directors to be newly assigned (Scheduled assignment date: June 26, 2013)
Director

Yasushi Oyama(Currently, General Manager of the Pharmaceutical Sales Department of the Domestic Division)

Director

Kenjyu Fujita(Currently, General Manager of the Vascular Business Unit of the Domestic Division)

Candidate for statutory auditors to be newly assigned (Scheduled assignment date: June 26, 2013)
Statutory auditor

Masayoshi Hasegawa

Note: Mr. Masayoshi Hasegawa is a candidate for external statutory auditor to be newly assigned.

3)

Statutory auditors to resign (Scheduled resigning date: June 26, 2013)
Statutory auditor

4)

Shigeo Takeda

Candidate for spare statutory auditors(Scheduled assignment date: June 26, 2013)

Spare statutory auditor Syunji Takamatsu
Note: Mr. Syunji Takamatsu is a candidate for spare statutory external auditor to be newly assigned.

- 32 -