Summary of Consolidated Financial Results
for the Second Quarter of the Fiscal Year Ending February 28, 2013
(Six Months Ended August 31, 2012)[Japanese GAAP]
September 28, 2012

Company name:
Stock code:
Representative:
Contact:

POINT INC.
Listing: TSE 1st section
2685
URL: http://www.point.co.jp
Michio Fukuda, Representative Director, Chairman & President
Tsuyoshi Matsuda, Director, Managing Corporate Officer,
Tel: +81-3-3243-6011
General Manager of Administration Division
Scheduled date of filing of Quarterly Report:
October 15, 2012
Scheduled date of payment of dividend:
October 22, 2012Preparation of supplementary materials for quarterly financial results: Yes
Holding of quarterly financial results meeting:Yes (for investors)

Note: The original disclosure in Japanese was released on September 28, 2012 at 15:30 (GMT +9).
(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Second Quarter of the Fiscal Year Ending February 28, 2013
(March 1, 2012 – August 31, 2012)(1) Consolidated results of operations (cumulative)(Percentages represent year-on-year changes)

Net sales
Million yen

Six months ended Aug. 31, 2012
Six months ended Aug. 31, 2011
Note: Comprehensive income%

Operating income

Ordinary income

Million yen

Million yen%

Net income%Million yen

55,1525.0
3,761 (19.6)
3,844 (19.1)
52,550
10.5
4,677 (22.3)
4,753 (22.2)
Six months ended Aug. 31, 2012:
2,474 million yen (up 3.4 %)Six months ended Aug. 31, 2011:
2,393 million yen (- %)Net income per share

Diluted net income pershare

Yen

Yen

Six months ended Aug. 31, 2012
Six months ended Aug. 31, 2011

92.54
100.82%

2,169
2,395(9.5)(24.5)-(2) Consolidated financial position
Total assets
Million yen

As of Aug. 31, 2012
As of Feb. 29, 2012
Reference: Shareholders’ equity

As of Aug. 31, 2012:

Net assets

Equity ratio

Million yen%

60,546
62,771
39,991 million yen

40,206
41,191
As of Feb. 29, 2012:

66.1
65.3
40,969 million yen

2. Dividends
1Q-end2Q-endYen

Yen

Fiscal year ended Feb. 29, 2012
Fiscal year ending Feb. 28, 2013
Fiscal year ending Feb. 28, 2013 (forecast)
Note: Revision to the most recently announced dividend forecast: None

Dividend per share3Q-end
Year-end
Yen

50.00
50.00

Yen

Total
Yen-70.00

120.00-70.00120.003. Consolidated Forecast for the Fiscal Year Ending February 28, 2013 (March 1, 2012 – February 28, 2013)
Net sales
Million yen%

Operating income

Ordinary income

Million yen

Million yen%

Full year
125,000
8.6
13,1006.0
13,200Note: Revision to the most recently announced consolidated forecast: None%

5.4(Percentages represent year-on-year changes)
Net income
Net income per share
Million yen

7,500%

10.5

Yen

320.00* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): Yes
Newly added: 1 (Singapore Point Pte. LTD)

Excluded: -(2) Special accounting methods in the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies and accounting-based estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards, others: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting-based estimates: None
4) Restatements: None

(4) Number of outstanding shares (common stock)1) Number of shares outstanding at end of period (including treasury stock)
As of Aug. 31, 2012:

24,400,000 shares

As of Feb. 29, 2012:

24,400,000 shares

As of Feb. 29, 2012:

637,885 shares

2) Number of shares of treasury stock at end of period
As of Aug. 31, 2012:

1,257,885 shares

3) Average number of shares outstanding during the period (cumulative)
Six months ended Aug. 31, 2012:

23,437,668 shares

Six months ended Aug. 31, 2011:23,762,115 shares

Note 1: Indication of quarterly review procedure implementation status
The current quarterly financial statements are exempted from quarterly review procedures based on the Financial Instruments andExchange Law. At the time of disclosure, the review procedures for these quarterly financial statements have not been completed.
Note 2: 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. Please refer to the section“Qualitative information regarding consolidated forecast” on page 2 regarding preconditions or other related matters for theforecast shown above.

Reference: Summary of Non-consolidated Forecast
Non-consolidated Forecast for the Fiscal Year Ending February 28, 2013 (March 1, 2012 – February 28, 2013)(Percentages represent year-on-year changes)
Net sales
Million yen%

Operating income

Ordinary income

Million yen

Million yen%

Full year
119,500
7.1
12,5006.7
12,700Note: Revision of non-consolidated forecast during the period: None

Net income%

5.8

Million yen

7,300

Net income per share%

11.4Yen311.46

POINT INC. (2685) Summary of 2Q Financial Results for February 2013 Fiscal Year

1. Qualitative Information Regarding Quarterly Consolidated Financial Performance(1) Qualitative information regarding consolidated results of operations
In the first half of the current fiscal year (March 1, 2012 to August 31, 2012), the Japanese economy was somewhat
firm because of domestic demand from the Great East Japan Earthquake reconstruction activities and other factors.
However, the recovery was held back by weakness in exports and industrial production due to the slowdown inoverseas economies.
In the casual wear market, in which our group operates, conditions continued to be difficult due to poor weather andsome summer season discount sales being postponed as the economic outlook remained uncertain.
In this environment, domestic existing-store sales were 97.8% of the same period of the previous fiscal year, andconsolidated net sales increased 5.0%.
In Japan, three new brands, namely BLISS POINT, REPIPI ARMARIO, and JEWELIUM, posted strong sales growthand sales of HARE and RAGEBLUE, among existing brands, kept growing steadily.
However, sales of APART BY LAWRYS decreased because of a reduction in the number of stores.
In May, we suspended operations of the NASHDULEK brand, which was launched in March 2011.
We continued to aggressively open new stores and close unprofitable ones in Japan: we opened 43 new stores, andclosed 22, resulting in a domestic network of 787 stores at the end of the second quarter (including 31 e-commerce
websites).
Overseas, seven stores were opened and three were closed in Taiwan, three stores were opened in Hong Kong, one
store was opened in China, and two stores were opened in Singapore. At the end of the second quarter, there were 31
stores in Taiwan, 20 in Hong Kong, 12 in China, and two in Singapore for a total of 65 overseas stores.
Regarding profits, even though production-related expenses were included in the cost of sales and there was some
impact from the adoption of a stricter inventory valuation methodology, the gross profit margin was virtuallyunchanged at 58.9% (up 0.2 percentage point year-on-year).
Selling, general and administrative (SG&A) expenses increased 9.7% year-on-year. The increase was attributableprimarily to higher personnel expenses in order to strengthen operations for achieving the goals of the TOP15
medium-term management plan and growth in depreciation expenses. SG&A-to-sales ratio rose 2.3 percentage
points year-on-year to 52.1%, and the operating income margin declined 2.1 percentage points to 6.8%.
We booked a gain on sales of noncurrent assets of 18 million yen as an extraordinary gain and there wereextraordinary losses of 92 million yen because of impairment losses at 13 stores totaling 78 million yen andinvestment security valuation losses of 14 million yen.
As a result, consolidated net sales in the first half increased 5.0% year-on-year to 55,152 million yen, operating
income decreased 19.6% to 3,761 million yen, ordinary income decreased 19.1% to 3,844 million yen, and net
income decreased 9.5% to 2,169 million yen.
(2) Qualitative information regarding consolidated financial position
1) Balance sheet position
Total assets decreased 2,224 million yen from as of February 29, 2012 to 60,546 million yen as of August 31, 2012.
This was mainly due to a decrease in short-term investment securities (commercial papers and treasury discountedbills) of 2,999 million yen.
Liabilities decreased 1,239 million yen to 20,339 million yen. This was mainly due to a decrease in accounts
payable-trade of 2,177 million yen.
Net assets decreased 985 million yen to 40,206 million yen. This was mainly due to the treasury stock purchases of
1,796 million yen.

- 1 -POINT INC. (2685) Summary of 2Q Financial Results for February 2013 Fiscal Year2) Cash flow position
Cash and cash equivalents (hereinafter “net cash”) as of August 31, 2012 amounted to 21,947 million yen, or 3,360
million yen less than as of February 29, 2012.
A summary of cash flows from each activity is as follows:
Cash flows from operating activities
Net cash provided by operating activities totaled 2,356 million yen (net cash provided of 269 million yen in thesame period of the previous fiscal year). The main factors include income before income taxes of 3,769 million yenand income taxes paid of 1,623 million yen.
Cash flows from investing activities
Net cash used in investing activities totaled 2,376 million yen (net cash used of 3,340 million yen). This was mainly
due to payments of 2,077 million yen for purchase of property, plant and equipment.
Cash flows from financing activities
Net cash used in financing activities totaled 3,358 million yen (net cash used of 1,662 million yen). This was due tocash dividends paid of 1,664 million yen and treasury stock purchases of 1,796 million yen.
(3) Qualitative information regarding consolidated forecast
There are no revisions to the consolidated forecast for the current fiscal year that was announced on April 4, 2012.

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