Summary of Financial Results
for the First Nine Months of the Fiscal Year Ending February 28, 2009
December 15, 2008

Company name: POINT INC.
Stock code:
Representative:
Contact:

Listing: TSE 1st section
URL: http://www.point.co.jp2685
Toshiaki Ishii, President and Representative Director
Tsuyoshi Matsuda,
Director, Corporate Officer, General Manager of Administration Division

Tel: +81-3-3243-6011(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Nine Months Ended November 30, 2008
(March 1, 2008 – November 30, 2008)(1) Consolidated results of operations
Net sales
Million yen

Nine months ended Nov. 2008
Nine months ended Nov. 2007
Fiscal year ended Feb. 2008%

61,76752,14473,941(Percentages represent year-on-year changes)
Ordinary income
Net income

Operating income
Million yen

18.5
21.7
-%

11,767
9,971
12,960Million yen

18.0
8.9
-

Net income per share

Diluted net income per share

Yen

Yen

Nine months ended Nov. 2008
Nine months ended Nov. 2007
Fiscal year ended Feb. 2008

272.35228.56298.92%

11,91910,05013,030Million yen

18.6
9.6
-%

6,7235,748
7,488

17.0
11.3
-228.51298.87(2) Consolidated financial position

As of Nov. 30, 2008
As of Nov. 30, 2007
As of Feb. 29, 2008

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen%Yen

42,89736,45337,712(3) Consolidated cash flow position
Cash flows fromoperating activities

24,474
21,044
22,3491,000.01
848.48900.95

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of the period

Million yen

Million yen

Million yen

Million yen

Nine months ended Nov. 2008
Nine months ended Nov. 2007
Fiscal year ended Feb. 2008

56.7
57.6
59.1

4,537
1,494
7,943

(1,675)(5,921)(6,411)(4,199)(4,635)(4,686)

12,504
7,943
13,8492. Consolidated Forecast for the Fiscal Year Ending February 28, 2009 (March 1, 2008 – February 28, 2009)
Point Inc. maintains its consolidated forecast for the fiscal year ending February 28, 2009 (released on October 3, 2008).

3. Others(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes in scope ofconsolidation): None
(2) Adoption of the simplified method for accounting: Yes(3) Changes to accounting methods in the most recent consolidated fiscal year: None
Note: Please refer to “Qualitative Information and Financial Statements, 3. Others” on page 3 for further information.
* Cautionary statement with respect to forward-looking statements
Forward-looking statements in this report are based on currently available information and certain assumptions judged to bereasonable. Actual results may differ significantly from these forecasts for a number of factors.

- 1 -POINT INC. (2685) Summary of 3Q Financial Results for February 2009 Fiscal Year

Qualitative Information and Financial Statements
1. Qualitative information regarding consolidated results of operations
Below is a summary of results for the first three quarters (March-November 2008) of the current fiscal year.
While consumers adopted a more defensive stance toward spending in the face of the subprime mortgage crisis’
deepening impact on the real economy, domestic sales at existing stores were 98.5% of the previous year’s level, andtotal sales in Japan increased 18.4%.
Domestic sales increased year-on-year for all brands, and the following brands showed particularly sharp sales growth:
LEPSIM LOWRYS FARM, APART BY LOWRYS, JEANASIS, and HEATHER.
Our newly launched brand “INMERCANTO” also increased its sales steadily.
We continued to aggressively open new stores in the first three quarters of the current fiscal year: we opened 105 newstores and closed 15 stores (both store opening and closing figures include four brand changes), expanding our total
domestic store network to 546 stores (including 18 e-commerce websites) at the end of the third quarter.
Overseas, we had a network of 22 stores at the end of the consolidated third quarter: five stores in Hong Kong and 17stores in Taiwan.
Regarding profits, the gross profit margin declined slightly, down 0.4 points year-on-year to 62.1%, partly due todiminishing benefits from merchandise valuations, which contributed to a higher margin in the previous first threequarters. Still, the gross profit margin was kept high.
SG&A expenses increased 17.5% year-on-year to 26,587 million yen, in line with plan, and the SG&A-to-sales ratio
declined 0.4 points year-on-year to 43.0%.
We booked extraordinary losses of 520 million yen: losses from the cancellation of rental contracts for closing stores,
disposal costs for fixed assets, and impairment losses for four stores.
Net sales in the first three quarters increased 18.5% year-on-year to 61,767 million yen, operating income increased
18.0% to 11,767 million yen, ordinary income increased 18.6% to 11,919 million yen, and net income increased 17.0%
to 6,723 million yen.

2. Qualitative information regarding consolidated financial position
Total assets rose 5,184 million yen from as of February 29, 2008 to 42,897 million yen as of November 30, 2008,
mainly due to an increase in accounts receivable and inventories. Liabilities rose 3,059 million yen to 18,422 million
yen due to an increase in accounts payable and other factors. Net assets rose 2,125 million yen to 24,474 million yen,and the equity ratio declined from 59.1% to 56.7%.
Cash flow position:
Net cash provided by operating activities totaled 4,537 million yen. The main factors include income before income
taxes of 11,398 million yen, an increase in accounts receivable of 3,812 million yen, an increase in inventories of 1,584
million yen, an increase in accounts payable of 1,353 million yen, and income taxes paid of 4,783 million yen.
Net cash used in investing activities totaled 1,675 million yen. This was mainly due to payment of 1,174 million yen forlease deposits mostly for new stores.
Net cash used in financing activities totaled 4,199 million yen. This was mainly due to cash dividends paid of 2,180
million yen and payment of 1,999 million yen for the acquisition of treasury stock.
As a result, cash and cash equivalents as of November 30, 2008 amounted to 12,504 million yen, or 1,345 million yen
less than as of February 29, 2008.

- 2 -POINT INC. (2685) Summary of 3Q Financial Results for February 2009 Fiscal Year

3. Others(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation)
No reportable information.
(2) Adoption of the simplified method for accounting
We have adopted the simplified method for booking allowance reserves and income taxes.
(3) Changes to accounting methods in the most recent consolidated fiscal year
No reportable information.

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