Summary Report of Consolidated Financial Results
For the Six Months Period ended September 30, 2011
November 10, 2011stCompany name: NIPRO CORPORATION
TSE/OSE-1 section
Code No.8086
URL: http://www.nipro.co.jp/
Representative: Minoru Sano, President and Representative Director
Contact person: Akihiko Yamabe, Director and General Manager of Accounting Division
TEL: (06)6372-2331
Filling date of quarterly reporting: November 14, 2011
Payment date of cash dividends: December 9, 2011
Supplemental material on quarterly reporting: No
Presentation on quarterly results: Yes (for corporate investors and analysts)

1.

(Note: Amounts are truncated to one million yen)
Consolidated Results for the Six Months ended September 30, 2011 (From April 1, 2011 to September 30, 2011)(1) Consolidated Results of Operations
Net Sales
Millions of yen%(Note: % of change from the same period a year ago)
Operating Income
Ordinary Income
Net Income
Millions of yen % Millions of yen % Millions of yen %6 months ended September 30, 2011

102,432

8.2

8,168

(9.6)

5,121

(6.4)

457

(81.5)

6 months ended September 30, 2010

94,640

8.2

9,031

(2.5)

5,470

(21.8)

2,469(29.3)

Note: Comprehensive income
yen (-%)

6 months ended September 30, 2011: (15,697) million yen (-%)

6 months ended September 30, 2010: (666) million

6 months ended September 30, 2011

Earnings per share
Yen
3.61

Diluted Earnings per share
Yen
3.16

6 months ended September 30, 2010

19.47

17.56

(2) Consolidated Financial Position
Total Assets
Millions of yen
477,019476,510Net Assets
Millions of yen
91,816109,037

6 months ended September 30, 2011
Year ended March 31, 2011
Note: Equity 6 months ended September 30, 2011: 88,429 million yen

2.

Equity Ratio
%
18.5
22.4

Year ended March 31, 2011: 106,509 million yen

Dividends

Year ended March 31, 2011
Year ending March 31, 2012
Year ending March 31, 2012
(Forecast)

Annual Dividends per Year
Year-end Dividends
Second-quarter
Third-quarter
Yen
Yen
Yen
18.50
31.50
12.00

First-quarter
Yen
-

-

Annual Dividends

Yen
50.00

13.50

25.50

Note: Revisions to the forecast of cash dividends in the current quarter: Yes
3.

Forecast of Consolidated Financial Results for the Year ending March 31, 2012 (From April 1, 2011 to March 31, 2012)(Note: The % displays in the line of year ending March 31, 2012 show increase/decrease ratio against the year ended March 31, 2011)

Operating
IncomeNet Sales
Millions of yen%

Millions of yen

Ordinary Income%

Millions of yen%

214,000 9.2
16,000(7.1) 12,550(6.1)
Note: Revisions to the forecast of consolidated financial results in the current quarter: Yes
Year ending March 31, 2012

Net Income
Millions of yen

4,050

%

64.9

Earnings
per Share
Yen
31.93

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: 2 (Corporate name: Nipro India Corporation Pvt Ltd.)
Removal: 0(Corporate name: Nipro Medical (Hefei) Co., Ltd.)(2) Adoption of Accounting Treatments Simplified or Unique for Preparation: No(3) 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: No[4] Restatement: No(Note: The detail can be found in P.4 “Summary information (Others)” in the attachment.)(4) Issued Shares (Common stock)[1] Number of issued shares at end of the period (including treasury stock)
6 months ended September 30, 2011
: 127,757,010sharesYear ended March 31, 2011
: 127,757,010 shares[2] Number of treasury stock at end of the period
6 months ended September 30, 2011
: 913,738 sharesYear ended March 31, 2011
: 912,840 shares[3] Average number of shares during the period
6 months ended September 30, 2011
: 126,843,790 shares
6 months ended September 30, 2010
: 126,845,858 shares(Note: The company has split one share of common stock into two shares on October 1, 2011. In this stock split, thenumber of issued shares is calculated on the assumption that the two-for-one stock split of common stock is conductedat the beginning of fiscal year 2010.)*Information regarding the quarterly review procedure
This quarterly summary report is exempt from quarterly review procedure based on the Financial Instruments
and Exchanges Act. It is under the review procedure process at the time of disclosure of this report*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.4 “1. Qualitative information for the six months period ended September 30, 2011, (3) Qualitative information
concerning forecast of consolidated financial results” in the attachment.
The company has split one share of common stock into two shares on October 1, 2011. In this stock split,
earnings per share and diluted earnings per share are calculated on the assumption that the two-for-one stock
split of common stock is conducted at the beginning of fiscal year 2010.

Table of Contents

1.

2.

3.

Qualitative Information for the Six-Month Period ended September 30, 20112(1) Qualitative Information Concerning Consolidated Financial Results2(2) Qualitative Information on the Consolidated Financial Position

3(3) Qualitative Information Concerning Forecast of Consolidated Financial Results3

Summary (Other) Information

3(1) Changes in Significant Consolidated Subsidiaries

3(2) Accounting Treatments Simplified or Unique for Preparation

3(3) Changes in Accounting Policies and Accounting Estimate and Restatement

3(4) Additional Information

3

Consolidated Financial Statements

5(1) Quarterly Consolidated Balance Sheets

5(2) Quarterly Consolidated Statements of Income andQuarterly Consolidated Statements of Comprehensive Income

7

Quarterly Consolidated Statements of Income

7

Quarterly Consolidated Statements of Comprehensive Income7(3) Quarterly Consolidated Statements of Cash Flows

8(4) Notes Related to Going Concern

10(5) Segment Information

10(6) Notes to Statements of Shareholders‟ Equity, If Having Significant Variation

11(7) Material Subsequent Event

12

-1-

1.

Qualitative Information for the Six-Month Period ended September 30, 2011

(1) Qualitative Information Concerning Consolidated Financial Results
During the six-month period ended September 30, 2011, the world economy slowed down due to delayed economic
recovery in America and enhancement of financial crisis in Europe especially in Greece.
As for the domestic economy, on the other hand, the strong appreciation of the yen is getting fixed to spread sense of
uncertainty even though the limit on supply for the Great East Japan Earthquake is relaxed gradually to show the signof partial economic recovery.
Under such situations, the Nipro Group recovers the proper functions in almost all direct offices and plants which got
damaged by the earthquake. We also have worked actively to acquire manufacturing and sales bases in foreigncountries for being one of the top companies in our core businesses.
As a result, the consolidated net sales in the six-month period ended September 30, 2011 increased 8.2% from thesame period of the previous year to 102,432 million yen.
As for the profit, consolidated operating income decreased 9.6% from the same period of the previous year to 8,168
million yen due to the increase in selling, general and administrative expenses, and consolidated ordinary income
decreased 6.4% from the same period of the previous year to 5,121 million yen. The consolidated net income
decreased 81.5% from the same period of the previous year to 457 million yen because extraordinary loss increased by
the generation of loss due to disaster and loss on valuation of investment securities.
The overviews of the results by segment are as follows.
[1] Medical Business
Domestic market and business conditions were seriously sever because of the lagged recovery from the Great East
Japan Earthquake and stagnation in the economy. Under such circumstances, sales grew greatly in auto-adjusting
dialysis machine, dialysis-related pharmaceutical products (such as substitution fluid for hemo(dia)filtration) and blood
coagulation inhibitor) and dialysis-related products (such as hemodiafiltration dialyzer and continuous hemofiltration
dialyzer). Enteral-alimentation-related products (such as semisolid food, alimentation catheter and transfusion kit forenteral alimentation), testing-related products (such as glucose analysis device) and vascular-related products (such as
coronary artery stent) showed fine sales as well. However, the sales in transfusion- and injection-related products anddialyzer remained flat, even though it has headed for recovering, because of the impact of the great earthquake.
Overseas sales suffered great effect from the appreciation of yen against the dollar and euro, but we have kept
performing the community-based sales. Sales in blood glucose meter showed significant growth thanks to aggressive
promotion at overseas, and also sales in dialysis-related products grew steadily as a result of active sales promotion to
dialysis market. Plants in India, Hefei (China), Indonesia and Bangladesh are under construction as planned. India plant
will start to operate from next July.
As a result, net sales of this business increased 9.8% from the same period of the previous year to 70,102 million yen[2] Pharmaceutical BusinessThis business consist of two main divisions; one is the generic drugs division to provide low cost and high quality
medical drugs, and the other is contracted manufacturing division to offer high value-added products for customer
needs.
On the sales of generic drug, under government policy for the dissemination of generic products „generic drug share inquantity shall be expanded more than 30% until year 2012,‟ the market is expected to be larger with some policies forencouraging the use of generic products. A big pharmaceutical manufacturer make a full-scale entry into the market
and foreign generic manufacturers strengthen marketing strategies, which makes the competitive environment
surrounding the domestic market more sever. Under such circumstance, we have proactively enforced sales promotion
to dispensing pharmacy and deepened the cooperation with wholesaler of drug so as to increase the sales of oral drug.
In addition, the sales of injectable drug, our main product, exceeded the sales in the same period of the previous year
as a result of our detailed information service mainly to the hospitals subjected to the DPC system (Diagnostic
Procedure Combination; comprehension payment system of medical cost for acute hospitalization).
On the sales of contracted manufacturing business, we worked hard for realizing various fine services such as
contracted development and support for value adding other than ordinary contracted manufacturing. During this period,
the effect of the Great East Japan Earthquake dropped the operation capacity in some plants, but a number of new
products have launched so the sales of this division could keep same level as the sales in the same period of theprevious year. In addition, Kagamiishi plant of Tohoku Nipro Pharmaceutical Corporation, which had shut down theoperation, recovered their all functions and restarted the business form this September.
As a result, net sales of this business increased 0.8% from the same period of the previous year to 18,950 million yen.
[3] Material Business
The sales of material glass tube for ampoule, a kind of pharmaceutical glass tube, decreased from the same period of
the previous year due to the stagnation of domestic demand. Concerning material glass tube for tube bottles, on theother hand, the domestic demand remained steadily and overseas sales was enforced to increase the sales comparedwith the same period of the previous year. Furthermore, we have advanced the formulation of pharmaceutical glassbusiness in India and China to promoted overseas sales activities. The export of glass for thermos bottles decreased alittle because of the effect of appreciating yen, but in the domestic market, power saving campaign due to theearthquake disaster created the demand of glass thermos bottles, which raise the net sales of this products comparedwith the same period of the previous year. As for the sales of glass for lighting purpose, we recovered the usual
operation capacity of automotive bulb from the effect of the great earthquake. However, the sales of glass for LCD
backlight decreased its demand under the influence of penetration of LED products, so overall, the sales of glass
products for lighting purpose and material glass tube for bulb decreased from the same period of the previous year.
In the field of pharmaceutical container, the sales of rubber stopper for pharmaceutical use and container for kit form
increased steadily based on our processing technique for plastics, metal and rubber. However, the sales of bags for-2-

antimicrobial agent and parts of pre-filled syringe decreased slightly.
As for the medical preparation and administration related device, the sales had showed good increase, and we areadvancing commercialization of products by both of self- development and joint development with pharmaceuticalcompanies so as to meet the diverse need. Furthermore, we continue to promote contract manufacturing anddevelopment cooperating with domestic and foreign pharmaceutical companies in general life cycle management ofpharmaceuticals, which includes the development of pharmaceutical combination products, systematization for
self-injection at home and modification of dosage form to such as orally-disintegrating tablet which can be taken withoutwater.
As a result, net sales of this business increased 12.7% from the same period of the previous year to 13,242 million
yen.
[4] Other BusinessIn the other business, the sale from real estate rental income is 137 million yen.

(2) Qualitative Information on the Consolidated Financial Position[1] Analysis Concerning the Conditions of Assets, Liabilities and Net Assets
Total assets increased 509 million yen from the end of the previous period to 477,019 million yen. Current assets
increased 15,224 million yen mainly due to the increase of 5,195 million yen in cash and cash equivalent, and theincrease of 4,780 million yen in notes and accounts receivable-trade, and noncurrent assets decreased 14,714 million
yen mainly due to the decrease of 20,781 million yen in investment securities and the decrease of 3,493 million yen inguarantee deposits.
Total liabilities increased 17,730 million yen from the end of the previous period to 385,203 million yen. Current
liabilities decreased 1,529 million yen mainly due to the decrease of 3,567 million yen in notes payable-facilities, andnoncurrent liabilities increased 19,259 million yen mainly due to the increase of 24,464 million yen in long-term loans
payable.
Total assets decreased 17,220 million yen from the end of the previous period to 91,816 million yen. Shareholders‟equity decreased 1,609 million yen and accumulated other comprehensive income decreased 16,470 million yen.
[2] Analysis Concerning the Conditions of Cash FlowsThe ending balance of cash and cash equivalents in the period under review decreased 885 million yen to 78,035
million yen
The conditions and main factors of each cash flow were as follows.
(Cash flows from operating activities)
Net cash provided by operating activities was 2,475 million yen. The main accounts of cash inflow were income before
income taxes and minority interests, 3,132 million yen, depreciation and amortization, 10,211 million yen. The main
accounts of cash outflow were increase of notes and accounts receivable-trade, 4,061 million yen and inventories,
4,126 million yen, and payment of corporate income tax, 2,938 million yen.
(Cash flows from investing activities)
Net cash used in investing activities was 34,511 million yen. The main accounts of cash outflow were purchase ofinvestment securities 14,029 million yen and purchase of noncurrent assets 12,102 million yen.
(Cash flows from financing activities)
Net cash used in investing activities was 22,268 million yen. The main accounts of cash inflow were proceeds fromlong-term loans payable, 43,870 million yen. The main accounts of cash outflow were decrease repayment of long-termloans payable, 16,407 million yen(3) Qualitative Information Concerning Forecast of Consolidated Financial Results
In the world economy in the future, we are concerned about delayed economic expansion in America and the risk of
economic downturn by debt crisis in Europe. As for the domestic economy, there are a lot of challenges such as the
problem of nuclear power station and historical hover of appreciating yen, and they are expected to bring more severbusiness condition.
In such situation, we will aim to improve expansion and efficiency of production and sales continuously for aiming one of
the top companies in our core business.
At this moment, the forecast of consolidated financial results for the fiscal year 2011 which was published May 13, 2011is revised based on the current movement in performance.

2.

Summary (Other) Information(1) Changes in Significant Consolidated Subsidiaries
Nipro India Corporation Pvt Ltd. and Nipro Medical (Hefei) Co. Ltd. are included in the scope of consolidation from theprevious period because their materiality increased in our group.
(2) Accounting Treatments Simplified or Unique for Preparation
N/A

-3-

(3) Change in Accounting Policies and Accounting Estimate and Restatement(Application of Accounting Standard for earnings per share)
From the first quarter of fiscal year 2011, the company has applies Accounting Standard for Earnings Per Share(ASBJ Statement No.2, issued on June 30, 2010), Guidance on Accounting Standard for Earnings Per Share (ASBJ
No.4, issued on June 30, 2010) and Practical Solution on Accounting for Earning Per Share (ASBJ PITF No.9 issued onJune 30, 2010).
In addition, 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. In accordance with this application, earnings per
share and diluted earnings per share are calculated on the assumption that the two-for-one stock split of common stock
is conducted at the beginning of fiscal year 2010.
If these accounting standards had not been applied, earnings per share and diluted earnings per share of theprevious first quarter were as follows:
Earnings per share: 38.94 yen
Diluted earnings per share: 35.13 yen(4) Additional Information(Application of Accounting Standard for Accounting Changes and Error Corrections)
Effective after the beginning of the first quarter of fiscal year 2011, the Company has applied the Accounting Standard
for Accounting Changes and Error Corrections (ASBJ Statement No.24, issued on December 4, 2009) and Guidanceon Accounting Standard for Accounting Changes and Error Corrections (ASBJ Statement No.24, issued on December
4, 2009).

-4-

3. Consolidated Financial Statements(1) [ Quarterly Consolidated Balance Sheets](Millions of yen)
As ofMarch 31, 2011
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
Guarantee deposits
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

-5-

As of
September 30, 2011

81,115
61,23742,697
6,783
11,461
4,204
9,935
(414)
217,02186,31066,01744,7208,156
12,761
4,258
10,450(430)
232,245

111,353(61,064)
50,289135,449(92,361)
43,087
20,115
1,519
(437)
1,082
8,989
27,150(22,209)
4,941
128,505

112,706(60,816)
51,899137,825(97,211)40,613
20,243
1,650
(582)
1,067
13,72527,863(22,883)
4,980
132,519

7,833
291
5,442
13,568

9,371
273
5,592
15,237

105,564
2,489
3,905
8,439
(2,984)
117,414
259,488476,51084,783
6,738
411
8,070
(2,987)
97,016
244,774
477,019

(Millions of yen)
As ofMarch 31, 2011
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
Provision for loss on disaster
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
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

-6-

As of
September 30, 2011

33,581
96,65910,000
5,000
375
5,771
208
3,165
2,112
26
1,954
4,040
5,937
7,568
176,401

35,217
97,22910,000
5,000
403
4,871
－
2,664
2,557
123
1,954
1,618
2,369
11,162
174,872

43,00044,00015,00015,000120,549
1,086
7,465
1,615
668
170
1,516
191,070
367,472

145,013
1,018
1,128
1,704
660
170
1,633
210,330
385,203

28,66329,972
46,631(864)
104,403

58,000636
45,022(864)
102,793

11,387(9,281)2,106
2,527
109,037
476,510(4,278)(10,085)(14,364)
3,387
91,816
477,019

(2) [Quarterly Consolidated Statements of Income and Quarterly Consolidated Statement of Comprehensive Income]Quarterly Consolidated Statements of Income(Millions of yen)
FY2010 first six months(From April 1, 2010
to September 30, 2010)
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
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
Compensation income
Licensed dealership charges
State subsidy
Other
Total extraordinary income
Extraordinary loss
Loss on retirement of noncurrent assets
Abnormal manufacturing cost
Loss on adjustment for change of accounting
standard for asset retirement obligations
Loss on valuation of investment securities
Loss due to disaster
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 first six months(From April 1, 2011
to September 30, 2011)

94,64065,92728,713
19,682
9,031

102,432
72,02130,411
22,243
8,168

160
346
239
746

257
362
420
1,039

1,179
2,785
155
186
4,307
5,470

1,616
2,039
43
388
4,087
5,121

14
122
300
－
106
543

112
－
－
86
10
209

75
104

285
－

88

－

－
－
132
401
5,612
2,707
203
2,911
2,700
231
2,469

675
1,111
125
2,197
3,132
2,333
9
2,342
790
332
457

[Qarterly Consolidated Statements of Comprehensive Income](Millions of yen)
FY2010 first six months(From April 1, 2010
to September 30, 2010)
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 shareholdersof parent company
Comprehensive income attributable to minority interests-7-

FY2011 first six months(From April 1, 2011
to September 30, 2011)

2,700

790

(2,339)(1,027)(3,366)(666)(15,666)(821)(16,488)(15,697)(885)(16,013)219

315

(3) [ Quarterly Consolidated Statements of Cash Flows ](Millions of yen)
FY2010 first six months FY2011 first six months(From April 1, 2010
(From April 1, 2011
to September 30, 2010) to September 30, 2011)
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)
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
Purchase of investment securities
Proceeds from sales of investment securities
Proceeds from purchase of investments in subsidiaries

resulting in change in scope of consolidation
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 receivableCollection of loans receivable
Other payments
Net cash provided by (used in) investment activities

-8-

5,612
9,319
67
1,142
155
42
(506)
1,179
285
(2,290)(4,019)
4,532
74
(924)
(7)
14,662504(1,172)467(223)(4,654)
9,583

3,132
10,211
－
1,147
43
7
(619)
1,616
1,175
(4,061)(4,126)940(1,017)(2,949)
873
6,373
625
(1,567)130(147)(2,938)2,475(1,390)1,990(2,820)－(7,162)
1,064(14,029)
10－(2,587)(9,214)40－(12,102)
148
(5)

25

33

(294)
(23)
7
(997)
(12,676)

882
(708)
23
(75)
(34,511)(Millions of yen)
FY2010 first six months FY2011 first six months(From April 1, 2010
(From April 1, 2011
to September 30, 2010) to September 30, 2011)
Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable
Increase (decrease) in commercial papers
Proceeds from long-term loans payable
Repayment of long-term loans payable
Proceeds form issuance of bonds
Redemption of bonds
Decrease (increase) in treasury stock
Repayments of finance lease obligations
Cash dividends paid
Cash dividends paid for minority shareholders
Other payments
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

-9-

(223)
(10,000)
20,809(10,157)
－
(110)
(1)
(179)
(1,864)(3)(6)(1,735)(326)(5,154)56,188(3,975)－43,870(16,407)
979
－
(0)
(202)
(1,992)(4)－
22,268(384)(10,152)
78,921

1,595

9,266

52,62878,035

(4) Notes Related to Going Concern
N/A(5) Segment InformationⅠ

FY2010 (From April 1, 2010 to September 30, 2010)

1.

Sales and Profit by Reportable Operating Segment(Millions of yen)Segment
MedicalPharmaceutical

63,86618,808Glass &
Materials

Total

Other
(Note.1)

Total

Consolidated
statement ofincome(Note.3)

Adjustment(Note.2)

Net Sales(1)Outside

11,754

94,428212

94,640-19

10,778(10,778)-

231

105,419(10,778)

94,64011,801(2,770)9,031(2)Intersegment

108

8,714

1,936

10,759Total

63,974

27,522

13,691

105,187

Segment profit

9,440

1,021

1,294

11,75644

94,640(Notes)1. “Other” is the business segment which is not included in the segment and consist of real estate income and sales
by headquarter.
2. Adjustment for the segment profit of (2,770) million yen includes elimination of inter-segment transaction of 302
million yen and corporate cost of (3,073) million yen. Corporate cost consisted primarily of sales, general andadministrative expenses and research and development cost which do not belong to the reporting segment.
3. Segment profit is adjusted to the operating income on the consolidated statements of income.
2.

Information on Goodwill by Reportable Operating Segment
N/A- 10 -

Ⅱ

FY2011 (From April 1, 2011 to September 30, 2011)

1.

Sales and Profit by Reportable Operating Segment(Millions of yen)Segment
Other(Note.1)

Total

Consolidated
statements ofIncome(Note.3)

Adjustment(Note.2)

MedicalPharmaceutical

70,102

18,95013,242102,295

137

102,432-

102,432(2)Intersegment

657

9,389

1,708

11,75422

11,777(11,777)-

Total

70,75928,33914,951

114,050

159

114,210(11,777)

102,432

Segment profit

8,497

2,110

1,178

11,786109

11,895(3,727)

8,168

Materials

Total

Net sales(1)Outside(Notes)1. “Other” is the business segment which is not included in the segment and consist of real estate income and sales
by headquarter.
2. Adjustment for the segment profit of (3,727) million yen includes elimination of inter-segment transaction of (249)
million yen and corporate cost of (3,477) million yen. Corporate cost consisted primarily of sales, general andadministrative expenses and research and development cost which do not belong to the reporting segment.
3. Segment profit is adjusted to the operating income on the consolidated statements of income.
2.

Change in Reportable Segment
From the first quarter period ended June 30, 2011, the name of business segment was changed partially and “Glass &Materials” is displayed as “Materials”. This change is just only for the name, and there is no difference about businesssegment itself from the same period of the previous year.

3.

Information about Impairment Loss of Tangible Assets and Goodwill by Reportable Operating Segment
N/A(6) Notes to Statements of Shareholder‟s Equity, if having Significant Variation
N/A- 11 -

(7) Material Subsequent Event
Stock Split and Partial Revisions of the Articles of Incorporation
The Company has conducted a stock split and revised the article of incorporation partially on October 1, 2011 basedon the resolution at the board of directors‟ meeting held on August 27, 2011.
1.

Purpose of the stock split and partial revisions of the article of incorporation
The purpose of the stock split is to make the stock more affordable to a wider pool of investors and provide thegreater liquidity in order to increase the capital stock and prepare for the aggressive business expansion at home
and abroad in the future.

2.

Overview of stock split(1) Method of Split
Common stock held by shareholders listed or recorded in the final shareholder register as of September 30,
2011, has split at a ratio of two for one.
(2) Increase in total number of authorized shares
The article of incorporation has been revised partially on October 1, 2011 to increase total number ofauthorized shares from 200,000,000 shares to 4000,000,000 shares.

3.

Date of stock split
Effective date of stock split is October 1, 2011.
In the stock split mentioned above, earnings per share and diluted earnings per share are calculated on theassumption that the two-for-one stock split of common stock is conducted at the beginning of fiscal year 2010.
If these accounting standards had not been applied, earnings per share and diluted earnings per share of theprevious first quarter were as follows:
Earnings per share: 38.94 yen
Diluted earnings per share: 35.13 yen- 12 -