Financial Highlights
1. CONSOLIDATED FINANCIAL RESULTS OF EPS GROUP FOR THE FIRST QUARTER
ENDED DECEMBER 31, 2013(2013.10.1-2013.12.31)(UNAUDITED)(1) CONSOLIDATED OPERATING RESULTS( UNIT:JPY MILLION )Operating Income

Net sales
Dec-13
Dec-12

9,027 (
8,554 (5.5% )
4.3% )

Dec-13
Dec-12Net Income per Share(yen)
290.10879.98

Ordinary Income

463 ( △ 48.2% )893 ( △ 17.2% )Net Income

435 ( △ 49.0% )855 ( △ 18.7% )Net Income perShare,diluted (yen)－－103 ( △ 67.3% )314 ( △ 43.1% )Note : 1 Comprehensive income
Dec-13580
Million yen( △ 26.8% )Dec-12791
Million yen( 18.0% )2 Percentages for net sales, operating income, ordinary income, net income and comprehensive income indicate
growth ratio to previous year.

(2) CONSOLIDATED FINANCIAL INFORMATION
Total Assets

Net assets

30,44530,323

19,73520,060Dec-13
Sep-13Note :( UNIT:JPY MILLION )Shareholders'Equity ratio (%)
56.8%
57.7%

Total shareholders' Equity, valuation and translation adjustments as of :Dec-13
17,290 Million yen
Sep-13
17,485 Million yen(3) CONSOLIDATED SUBSIDIARIES
Consolidated subsidiaries :Affiliated companies by equity accounting method :34
3companies
companies

2.OVERALL SITUATION OF DIVIDEND DISTRIBUTION( UNIT:JPY )Interim Dividend

Cash Dividends per share
Year end Dividend

Annual

Sep-13(Result)

1,600.00

1,000.00－

Sep-14(Projection)

800.0010.00－Note :

As each share of common stock has been split into 2 shares as of 1st April 2013, and our board of directors has
resolved that each share of common stock will be split into 100 shares as of 1st April 2014, above year end dividend
shows the amount after each split, in spite that interim dividend remains before split.
For reference purpose only, if such share splits become effective as at 1st October 2012 retroactively, dividend
distribution for each fiscal year may become as follows,
Sep-13 (Result)
Annual: 18.00 (Interim Dividend: 8.00, Year end Dividend: 10.00)
Sep-14 (Projection)
Annual: 18.00 (Interim Dividend: 8.00, Year end Dividend: 10.00)

3. INFORMATION OF CONSOLIDATED BUDGET 2014.09 (2013.10.1-2014.9.30)
Mar-14Sep-14

Net sales
19,880 (9.0% )40,961 (9.0% )Budgeted net income per share :( UNIT:JPY MILLION )Ordinary Income
Net Income
1,338 ( △ 18.3% )611 ( △ 9.1% )4,150 (17.2% )2,006 (17.3% )Operating Income
1,302 ( △ 25.2% )4,110 (17.5% )Mar-14
Sep-1417.08 yen
56.09 yen

Notes :1 Above figures may differ from actual results as uncertain various factors may affect future earnings.
2 Percentages for net sales, operating income, ordinary income, and net income indicate growth ratio to previous year.
3 As each share of common stock will be split into 100 shares as of 1st April 2014, above each budgetd net income per shareshows the amount based on as if share split were considered to be effective on 1st October 2013 retroactively.

4. OTHER INFORMATION(1) Total number of shares issued and outstanding as of :Dec-13361,600

sharesSep-13361,600

sharesSep-13

3,948

shares357,652

shares(2) Common stock for treasury as of :Dec-13

7,444

shares(3) Average number of shares outstanding during the period as of :Dec-13355,278

sharesDec-12

CONSOLIDATED BALANCE SHEETS
December 31, 2013 and September 30, 2013
(UNAUDITED)(IN THOUSANDS,JPY)ASSETS
CURRENT ASSETS
Cash and time deposits
Notes and accounts receivable
Investment securities
Inventories
Works in progress
OthersAllowance for doubtful accounts
Total current assets

December 31.2013

September 30.2013

10,137,600
6,576,263
983,424909,319
738,4121,713,538△ 24,051
21,034,508

10,474,905
7,516,328
171,766
643,114488,9972,594,884△ 22,771
21,867,224

Tangible Assets
Intangible Assets
Investments and other assets ;Investment securities
Deposits
OthersTotal investments and other assets

2,721,671
1,477,454

2,590,022
1,410,862

1,739,638
1,615,185
1,857,342
5,212,166

1,067,676
1,624,702
1,763,247
4,455,626

Total fixed assets

9,411,291

8,456,510

30,445,800

30,323,735

LIABILITIESCURRENT LIABILITIES
Accounts payable
Short-term debt
Current portion of long-term debt
Income taxes payable
Provision for bonuses
Provision for loss on order received
OthersTotal current liabilities

913,969
570,000
444,000
72,528285,547
31,0003,811,772
6,128,819

709,487
170,000
444,000
815,640
1,032,416
20,0002,917,392
6,108,935

LONG-TERM LIABILITIESLong-term debt
Provision for employees' retirement benefits
Provision for directors' retirement benefits
Asset retirement obligations
OthersTotal long-term liabilities

3,145,000
682,167
213,764
335,557
205,286
4,581,776

2,856,000
657,361
249,452
327,474
63,547
4,153,835

10,710,595

10,262,770

1,875,251
1,826,300
13,231,156△ 702,518
16,230,190

1,875,251
1,826,300
13,485,740△ 317,258
16,870,034△ 167,475
1,227,560△ 108,881

1,060,085

615,828

Minority interests
TOTAL NET ASSETS

2,444,928
19,735,204

2,575,101
20,060,964

TOTAL LIABILITIES AND NET ASSETS

30,445,800

30,323,735

FIXED ASSETSTOTAL ASSETSTOTAL LIABILITIESNET ASSETS
Shareholders' equity
Common stock
Additional paid-in capital
Retained earnings
Common stock for treasury
Total shareholders' equity
Accumulated other comprehensive income (or △loss)
Unrealized gain (or △loss) onavailable-for-sale securities
Foreign currency translation adjustments
Total accumulated other comprehensive
income (or △loss)

724,710

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
For the First quarter ended December 31 2013 and 2012
(UNAUDITED)(IN THOUSANDS,JPY)
First quarter ended
December 31.2013

First quarter ended
December 31.2012

NET SALESCOST OF SALES
Gross profit

9,027,096
6,642,598
2,384,498

8,554,354
5,977,335
2,577,018

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
Operating income

1,921,400
463,097

1,683,707
893,311

9,044△ 8,488△ 33,018△ 30,134
16,19135,419△ 10,985
452,1124,858△ 5,498△ 42,262△ 17,228－△ 120,022△ 180,153
713,158

INCOME TAXES
Current
Deferred
Total
Income before minority interests
MINORITY INTERESTSNET INCOME

24,924
317,638
342,563
109,549
6,481
103,067

48,358342,613
390,972
322,1857,457
314,727

Income before minority interests

109,549

322,185△ 58,594
505,771

107,749
349,521

23,29912,466

470,477
580,026

469,737
791,923547,324
32,702758,983
32,939OTHER INCOME (△EXPENSES)Interest income
Interest expenses
Foreign exchange gain or loss (△loss)
Gain or loss of equity in associated companies (△ loss)
Gain on change in subsidiaries' equity
Others- net
Other income (△expenses)-net
Income before income taxes and minority interests

OTHER COMPREHENSIVE INCOME
Unrealized gain (or △loss) on available-for-sale securities
Foreign currency translation adjustments
Share of other comprehensive income of associates inequity method
Total
COMPREHENSIVE INCOME
Comprehensive income attributable to :Parent shareholders
Minority interests

STATEMENT OF ORDER ENTRY AND SALES BY ITEMSFor the First quarter ended December 31 2013
(UNAUDITED)(1) RESULT OF ORDER ENTRY
2013.12<2013.10.1-2013.12.31>
DIVISIONAMOUNT OF ORDER ENTRY(IN THOUSANDS, JPY )year-to-yearcomparison(%)

ORDER BACKLOG(IN THOUSANDS, JPY )2,337,505
1,600,592
1,149,602
5,087,700
1,904,385
1,184,299
960,444852,200
302,171
10,291,201

49.9%
83.8%
262.6%
72.4%
199.8%
107.3%
432.0%
4164.2%88.5%
106.4%

15,057,776
12,706,114
2,622,814
30,386,704
7,709,6413,845,109
4,351,537
150,966
124,627
46,568,587

Domestic CRO
Monitoring
Data Management
CRO others
TOTAL OF CRO
Domestic SMO
Domestic CSO
Global Research Business
EKISHIN Business
Others
TOTAL

year-to-yearcomparison
(%)

89.4%
97.7%
227.5%
98.0%
108.8%
109.3%
187.5%
143.1%
68.2%
105.3%* These figures are expressed by sales price.
* These above figures do not include the consumption tax.

(2) RESULT OF SALES
2013.12<2013.10.1-2013.12.31>

DIVISIONAMOUNT OF SALES(IN THOUSANDS, JPY )Domestic CRO
Monitoring
Data Management
CRO othersTOTAL OF CRO
Domestic SMO
Domestic CSO
Global Research Business
EKISHIN Business
Others
TOTAL

year-to-year comparison (%)

2,792,381
1,506,740
438,9724,738,095
1,414,875
1,439,996
368,294
761,895
303,938
9,027,096

99.8%
78.4%
151.5%
94.6%
95.0%
103.9%
123.3%
4042.1%
86.7%
105.5%* These above figures do not include the consumption tax.

INDUSTRY SEGMENT INFORMATION
For the First quarter ended December 31 2013 and 2012
(UNAUDITED)FY 2014 (2013.10.1-2013.12.31)
DomesticCSO

GlobalResearchBusiness

EKISHINBusinessOthers

4,738,095 1,414,875 1,439,996
167,960
86,245
19,837
4,906,056 1,501,120 1,459,834
484,136
148,329
59,155368,294
16,444
384,738(122,980)

761,895
20,887
782,782(118,637)

303,938 9,027,096
195,263506,637
499,202 9,533,734
6,159
456,162

DomesticCRO
SALES
Sales to customers
Intersegment sales
Total
Operating income(IN THOUSANDS, JPY)

Domestic
SMO

Total

Eliminations/Consolidation
Corporate－ 9,027,096(506,637)－(506,637) 9,027,096
6,935
463,097* Operating income of 6,935 thousand yen under "Eliminations/ Corporate" consists of elimination of inter-segment and other transactions.
* These above figures under "Others" consist of the figures of "BPO" and "Other business".
* From FY2014, segment definition has been changed to 7 categories of "Domestic CRO", "Domestic SMO", "Domestic CSO", "Global Research Business","EKISHIN Business", "BPO" and "Other business", as newly setting up "BPO" and "Other business" segments which belonged to "CRO(Domestic)"and "China Business" in previous year. In addition, "China Business" has changed its segment name to "EKISHIN Business".
Reclassified segment information of the same period in previous year is as follows:

FY 2013 (2012.10.1-2012.12.31)
DomesticCSO

EKISHIN
BusinessOthers

5,010,794 1,489,161 1,386,197
24,452
1,600
16,302
5,035,246 1,490,761 1,402,499
971,186
20,06463,461

298,710
15,857
314,568(35,631)

18,84824,494
43,343(117,494)

350,641 8,554,354
137,816
220,523
488,458 8,774,878(9,538) 892,047

Domestic
CROSALES
Sales to customers
Intersegment sales
Total
Operating income(IN THOUSANDS, JPY)

GlobalResearchBusiness

Domestic
SMO

Total

Eliminations/ Consolidation
Corporate－ 8,554,354(220,523)－(220,523) 8,554,354
1,264
893,311* Operating income of 1,264 thousand yen under "Eliminations/ Corporate" consists of elimination of inter-segment and other transactions.
* These above figures under "Others" consist of the figures of "BPO" and "Other business".