Summary of Financial Results for the Fiscal Year Ended February 28, 2009
April 3, 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 Annual General Meeting of Shareholders: May 27, 2009
Scheduled date of payment of dividend:
May 12, 2009
Scheduled date of filing of Annual Securities Report:
May 28, 2009
(All amounts are rounded down to the nearest million yen)
Stock code:Representative:
Contact:

1. Consolidated Financial Results for the Fiscal Year Ended February 28, 2009
(March 1, 2008 – February 28, 2009)(1) Consolidated results of operations(Percentages shown for net sales, operating income, ordinary income and net income represent year-on-year changes)
Net sales
Operating income
Ordinary income
Net income
Million yen%

Million yen%

Million yen%

Million yen%

86,70573,941

17.3
19.9

15,772
12,96021.7
5.5

15,947
13,030

22.4
5.7

8,089
7,488

8.0
8.9

Fiscal year ended Feb. 2009
Fiscal year ended Feb. 2008

Net income pershare

Diluted net
income per share

ROE

Ratio of ordinary
income to total assets

Ratio of operating
income to net sales

Yen

Yen%%%

Fiscal year ended Feb. 2009328.89Fiscal year ended Feb. 2008
298.92
Reference: Equity in earnings of affiliates

298.87
Feb. 2009:

33.2
35.8
(6) million yen

38.2
36.2
Feb. 2008:

18.2
17.5
(36) million yen(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen%

Yen

As of Feb. 28, 2009
As of Feb. 29, 2008
Reference: Shareholders’ equity

45,88537,712Feb. 2009:(3) Consolidated cash flow position
Cash flows fromoperating activities

57.6
59.1
Feb. 2008:

1,086.09
900.9522,304 million yen

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

Fiscal year ended Feb. 2009
Fiscal year ended Feb. 2008

26,56522,34926,426 million yen

12,650
7,943(1,980)(6,411)(4,165)(4,686)

20,302
13,8492. Dividends
Dividend per share(Record date)1Q-end2Q-end3Q-endYearendAnnual

Yen

Yen

Yen

Fiscal year ended Feb. 2008
Fiscal year ended Feb. 2009
Fiscal year ending Feb. 2010
(forecast)

Yen

Yen

-

30.00
40.00

-

50.00
60.00

80.00
100.00

-

40.00

-

60.00

100.00Total
dividends(annual)Dividend on
Dividend
equitypayout ratio(consolidated) (consolidated)

Million yen

%

1,994
2,450%

26.8
30.4

9.5
10.1

27.3

3. 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

First half
Full year

43,80097,000%14.0
11.9

Operating income

Ordinary income

Million yen

Million yen

6,100
16,100%

2.0
2.1

6,200
16,200- 1 -%

2.0
1.6

Net income
Million yen

3,400
9,000

Net income per share%

1.5
11.3

Yen

138.23365.89

POINT INC. (2685) Summary of Financial Results for February 2009 Fiscal Year

4. Others(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes in scopeof consolidation): None
(2) Changes in accounting principles, procedures and presentation methods for preparation of consolidated financial
statements
1) Changes caused by revision of accounting standards: None
2) Other changes: None

(3) Number of outstanding shares (common shares)
1) Number of shares outstanding at end of period (including treasury stock)
Feb. 2009:

25,990,720 sharesFeb. 2008:

25,990,720 sharesFeb. 2008:

1,233,884 shares

2) Number of treasury stock at end of period
Feb. 2009:

1,658,593 shares(For reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended February 28, 2009
(March 1, 2008 – February 28, 2009)(1) Non-consolidated results of operations(Percentages represent year-on-year changes)

Net sales

Operating income

Million yen

Fiscal year ended Feb. 2009
Fiscal year ended Feb. 2008%

85,562
73,121Million yen

17.0
20.0

Ordinary income%

15,551
12,716

Million yen

22.3
5.0

Diluted net income per share

Yen

Yen

Fiscal year ended Feb. 2009
Fiscal year ended Feb. 2008

326.77295.75%15,80812,865

Net income per share

Net income
Million yen

22.9
5.5%

8,037
7,408

8.5
8.8

295.70(2) Non-consolidated financial position

As of Feb. 28, 2009
As of Feb. 29, 2008
Reference: Shareholders’ equity

Total assets

Net assets

Equity ratio

Net assets per share

Million yen

Million yen%

Yen

45,41337,303Feb. 2009:

26,24622,07626,180 million yen

57.6
59.1
Feb. 2008:

1,075.95
889.92
22,031 million yen

2. Non-consolidated Forecast for the Fiscal Year Ending February 28, 2010 (March 1, 2009 – February 28, 2010)
Net sales
Million yen

First half
Full year

43,00095,000%

13.1
11.0

Operating income

Ordinary income

Million yen

Million yen

6,100
15,800%

3.7
1.6

6,250
16,000%3.61.2(Percentages represent year-on-year changes)
Net income
Net income per share
Million yen

3,400
9,000%

Yen

1.5
12.0

* 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.

- 2 -138.23
365.89

POINT INC. (2685) Summary of Financial Results for February 2009 Fiscal Year

1. Results of Operations(1) Analysis of Results of Operations
1) Results of operations for the current fiscal year
The Japanese economy fell further into recession in the current fiscal year under review due to the deepening andspreading turmoil in financial markets triggered by the subprime mortgage crisis, and economic weakness in the USand Europe.
In the casual wear market in which our group operates, personal consumption remained weak due to not-so-favorable
weather and consumers’ more defensive stance towards spending under the influence of the deteriorating economy.
In this environment, we achieved further growth, increasing consolidated net sales by 17.3% year-on-year.
Most of our brands steadily increased sales owing to newly opened stores among other factors, while domestic
existing-store sales were 97.9% of the previous year’s level.
In particular, “JEANASIS” grew to our third brand, following “LOWERYS FARM” and “GLOBAL WORK”, withsales of over 10 billion yen, and sales of “HEATHER”, “APART BY LOWRYS”, and “LEPSIM LOWRYS FARM”
also rose sharply. These four brands constituted 27.8% of net sales in the current fiscal year compared with 21.9% in
the previous fiscal year.
We also successfully launched two new brands “INMERCANTO” and “TRANS CONTINENTS” during the fiscalyear.
We continued to aggressively open new stores during the fiscal year: we opened 118 new stores including e-commerce
websites and closed 23 (both store opening and closing figures include six brand changes), expanding our domestic
store network to 551 stores at the end of the fiscal year.
The number of “UNDERCURRENT” stores at the end of the fiscal year was two, as we stopped opening“UNDERCURRENT” stores, and focused on brand changes.
Overseas, POINT TW INC., our subsidiary in Taiwan, opened two new stores each in Taipei and Kao-Hsiung, bringing
the network in Taiwan to 17 stores at the end of the fiscal year.
In Hong Kong, POINT HOLDING CO., LTD, in which we own a 75% equity stake, opened its first stores in March
2008, and made steady progress in expanding its network to eight stores by the end of the fiscal year.
Regarding profits, the gross profit margin stayed at a high level of 60.5% (up 0.1 point year-on-year), SG&A expenses
were 36,700 million yen (+17.5% year-on-year), in line with our plan, and the SG&A-to-sales ratio declined 0.6 point
year-on-year to 42.3%. As a result, the operating income margin rose 0.7 point to 18.2%.
We booked extraordinary losses of 2,222 million yen: losses from the cancellation of rental contracts due to store
closings, disposal costs for fixed assets and impairment losses for one store totaling 642 million yen, and investmentsecurity valuation losses of 1,579 million yen.
As a result, net sales in the fiscal year increased 17.3% year-on-year to 86,705 million yen, operating income increased
21.7% to 15,772 million yen, and ordinary income increased 22.4% to 15,947 million yen. Net income increased 8.0%
to 8,089 million yen following the booking of 48 million yen in loan loss reserve carrybacks as an extraordinary gain,and 2,222 million yen in extraordinary losses.

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