Summary of Financial Results
for the Third Quarter of the Fiscal Year Ending February 28, 2010
(Nine Months Ended November 30, 2009)
December 28, 2009

Company name:

POINT INC.
Listing: TSE 1st section
2685
URL: http://www.point.co.jp
Toshiaki Ishii, President and Representative Director
Tsuyoshi Matsuda, Director, Corporate Officer, General Manager of Administration Division
Tel: +81-3-3243-6011
Scheduled date of filing of Quarterly Report: January 14, 2010
Scheduled date of payment of dividend:
Stock code:
Representative:
Contact:(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending February 28, 2010
(March 1, 2009 – November 30, 2009)(1) Consolidated results of operations (cumulative)
Net sales
Million yen

Nine months ended Nov. 30, 2009
Nine months ended Nov. 30, 2008%

69,502
61,767

Operating income(Percentages represent year-on-year changes)
Ordinary income
Net income

Million yen%

Million yen

12,80911,76718.0

12,915
11,91918.5

Net income per share

Diluted net income
per share

YenYenNine months ended Nov. 30, 2009
Nine months ended Nov. 30, 2008

304.84272.35%

Million yen

18.6%

7,417
6,723

17.0-(2) Consolidated financial position

As of Nov. 30, 2009
As of Feb. 28, 2009
(Reference) Shareholders’ equity

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen%

Yen

50,63845,885
Nov. 30, 2009:

31,537
26,56531,374 million yen

62.0
1,289.44
57.6
1,086.09
Feb. 28, 2009: 26,426 million yen

2. Dividends
1Q-end2Q-endDividend per share
3Q-endYearendTotalYen

Yen

YenYenYen

Fiscal year ended Feb. 28, 2009
Fiscal year ending Feb. 28, 2010
Fiscal year ending Feb. 28, 2010 (forecast)(Note) Revision of dividend forecast during the period: None

40.00
50.00

-60.00100.0060.00

110.003. Consolidated Forecast for the Fiscal Year Ending February 28, 2010 (March 1, 2009 – February 28, 2010)(Percentages represent year-on-year changes)
Net sales
Million yen%

Operating income

Ordinary income

Million yen

Million yen%

Full year
97,000 11.9
16,1002.1(Note) Revision of consolidated forecast during the period: None- 1 -16,200%1.6

Net incomeMillion yen

9,000

Net income per share%

11.2

Yen

369.88

POINT INC. (2685) Summary of 3Q Financial Results for February 2010 Fiscal Year

4. Others(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): None
(2) Application of simplified accounting methods and special accounting methods in the preparation of quarterly
consolidated financial statements: Yes(3) Changes in accounting principles, procedures and presentation methods for preparation of quarterly
consolidated financial statements1) Changes caused by revision of accounting standards: Yes
2) Other changes: Yes(4) Number of outstanding shares (common shares)
1) Number of shares outstanding at end of period (including treasury stock)
Nov. 30, 2009:

25,990,720 sharesFeb. 28, 2009:

25,990,720 sharesFeb. 28, 2009:

1,658,593 shares

2) Number of treasury stock at end of period
Nov. 30, 2009:

1,658,604 shares

3) Average number of shares outstanding during the period (cumulative)
Nine months ended Nov. 30, 2009:24,332,121 shares

Nine months ended Nov. 30, 2008:

24,686,048 shares* Cautionary statement with respect to forward-looking statements
1. Forward-looking statements in this report are based on currently available information and certain assumptions judged tobe reasonable. Actual results may differ significantly from these forecasts for a number of factors.
2. Effective from the current fiscal year, the Company has adopted “Accounting Standards for Quarterly FinancialStatements” (Accounting Standards Board of Japan (ASBJ) Statement No. 12, March 14, 2007) and “Guidance on
Accounting Standards for Quarterly Financial Statements” (ASBJ Guidance No. 14, March 14, 2007). In addition, thequarterly consolidated financial statements are prepared in accordance with “Regulations for Quarterly Consolidated
Financial Statements.”

Reference: Summary of Non-consolidated Forecasts
Non-consolidated Forecast for the Fiscal Year Ending February 28, 2010 (March 1, 2009 – February 28, 2010)
Net sales
Million yen%

Operating income

Ordinary income

Million yen

Million yen%

Full year
95,000 11.0
15,8001.6
16,000(Note) Revision of non-consolidated forecast during the period: None- 2 -%1.2(Percentages represent year-on-year changes)Net income
Net income per share
Million yen

9,000%

12.0

Yen

369.88

POINT INC. (2685) Summary of 3Q Financial Results for February 2010 Fiscal Year

Qualitative Information and Financial Statements
1. Qualitative information regarding consolidated results of operations
In the first nine months (March 1, 2009 to November 30, 2009) of the current fiscal year, there was a growing
consensus that the Japanese economy gradually picked up thanks to benefits from various domestic and overseas
stimulus measures, although the self-sustainability of the recovery in domestic private demand remained weak. In
the casual wear market in which our group operates, consumption remained weak in the context of ongoing harsh
employment and income conditions, and due to consumers’ more defensive spending stance and their growing
preference for low-priced items.
In this environment, net sales increased 12.5% year-on-year. Domestic existing-store sales were 95.8% of thesame period in the previous fiscal year due to the cooling market, and slightly below our 96.1% full-year target.
The following domestic brands maintained strong sales growth: LEPSIM LOWRYS FARM, HEATHER, andAPART BY LOWRYS.
We continued to aggressively open new stores. We expanded the domestic store network to 616 stores (including28 e-commerce websites) at the end of the third quarter, the net result of opening 70 new stores (including 10e-commerce websites) during the first nine months, and closing five.
Overseas, we opened two new stores, closed two stores in Taiwan, and opened five new stores in Hong Kong.
Our overseas store network expanded to 30 stores at the end of the third quarter: 17 stores in Taiwan and 13stores in Hong Kong.
Regarding profits, the gross profit margin improved to 62.2% (up 0.1 point year-on-year) as we optimallycontrolled procurement, inventories, and sales price revisions.
The SG&A-to-sales ratio rose 0.8 point year-on-year to 43.8% mainly due to aggressive and strategic store
development in domestic and overseas markets, and an increase in expenses from the expansion of results-based
incentives. The operating income margin declined 0.7 point to 18.4%.
We booked an extraordinary gain of 66 million yen from the reversal of subscription rights to shares following
the expiration of stock options and gain of 85 million yen from sales of subsidiaries and affiliates’ stocks.
However, we also booked extraordinary losses including disposal costs for fixed asset of 64 million yen, lossesof 37 million yen from the cancellation of store rental contracts, impairment losses at three stores of 61 million
yen and investment security valuation losses of 399 million yen.
As a result, consolidated net sales in the first nine months increased 12.5% year-on-year to 69,502 million yen,operating income increased 8.9% to 12,809 million yen, ordinary income increased 8.4% to 12,915 million yen,and net income increased 10.3% to 7,417 million yen.
(Note) Year-on-year figures in “Qualitative information regarding consolidated results of operations” are forreference purpose.

2. Qualitative information regarding consolidated financial position(1) Balance sheet position
Total assets increased 4,753 million yen from as of February 28, 2009 to 50,638 million yen as of November 30,
2009. This was mainly the net result of an increase in accounts receivable of 3,430 million yen, an increase intangible assets of 2,373 million yen, and a decrease in cash and deposits of 873 million yen.
Liabilities declined 218 million yen to 19,100 million yen mainly due to an increase in accounts payable of 1,057
million yen and a decrease in income taxes payable of 2,471 million yen.
Net assets rose 4,972 million yen to 31,537 million yen mainly due to an increase in retained earnings of 4,740
million yen.

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(2) Cash flow position
Cash and cash equivalents as of November 30, 2009 amounted to 17,396 million yen, or 2,906 million yen lessthan as of February 28, 2009.
A summary of cash flows from each activity is as follows.
(Cash flows from operating activities)
Net cash provided by operating activities totaled 3,676 million yen. The main factors include income before
income taxes of 12,504 million yen, an increase in accounts payable of 1,057 million yen, an increase in accounts
receivable of 3,427 million yen, an increase in merchandise of 1,669 million yen and income taxes paid of 7,326
million yen.
(Cash flows from investing activities)
Net cash used in investing activities totaled 3,943 million yen. This was mainly due to the payment of 2,931
million yen for acquisition of tangible assets.
(Cash flows from financing activities)
Net cash used in financing activities totaled 2,644 million yen. This was mainly due to cash dividends paid of
2,641 million yen.

3. Qualitative information regarding consolidated forecast
Point Inc. maintains its consolidated and non-consolidated forecasts for the fiscal year ending on February 28,
2010 (released on September 30, 2009).

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