Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Year Ended September 30, 2015
(Based on Japanese GAAP)
November 6, 2015
Company name:T. HASEGAWA CO., LTD.

Stock exchange listing: Tokyo
Stock code:
4958
Representative:
Inquiries:

URL

http://www.t-hasegawa.co.jp/President & COO
Director, Deputy President & CFOTakahiko KondoTakao Umino

TEL

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

December 17, 2015
December 18, 2015

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:

December 18, 2015
Yes

Holding of financial results meeting:Yes

03-3241-1151(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended September 30, 2015 (from October 1, 2014 to September 30, 2015)(1) Consolidated financial results
Percentages indicate year-on-year changes
Net salesYear ended September 30, 2015
Year ended September 30, 2014
Note: Comprehensive income

Millions of yen
47,22844,917

Operating income% Millions of yen
5.1
4,352
(0.4)
4,381

Year ended September 30, 2015
Year ended September 30, 2014

Net income% Millions of yen
(1.8)
3,043
(22.4)
3,239%(6.0)(8.0)¥6,198 million [4.5%]¥5,932 million [(21.7)%]

Diluted net income
per share
YenYen
73.16
–
78.00
–

Net income per share
Year ended September 30, 2015
Year ended September 30, 2014

Ordinary income% Millions of yen
(0.7)
4,852
(19.4)
4,939

Ordinary
income/total assets
%%
4.0
5.0
4.6
5.5

Net income/equity

Reference: Investment profit (loss) on equity method Year ended September 30, 2015

¥ – million

Year ended September 30, 2014

¥ – million

Operatingincome/net sales%
9.2
9.8(2) Consolidated financial position
Total assets
As of September 30, 2015
As of September 30, 2014
Reference: Equity

Net assets

Millions of yen
101,604
91,946

As of September 30, 2015
As of September 30, 2014

Millions of yen
79,436
72,796Equity ratio

Net assets per share%
78.2
79.2

Yen
1,872.30
1,752.97¥79,436 million¥72,796 million(3) Consolidated cash flows

Year ended September 30, 2015
Year ended September 30, 2014

Cash flows fromoperating activities
Millions of yen
5,969
5,019

Cash flows frominvesting activities
Millions of yen(6,769)(1,518)1

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen
337
20,601(1,460)20,898

2. Cash dividends
Ratio ofDividend
Total cashdividends topayout ratio
dividends (Total) (Consolidated)
net assets(Consolidated)

Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

Year ended September 30, 2014
Year ended September 30, 2015

––

15.00
15.00

––

15.00
15.00

30.00
30.00

1,245
1,259

38.5
41.0

1.8
1.7

Year ending September 30, 2016 (Forecast)

–

15.00

–

15.00

30.00

41.5

3. Forecast of consolidated financial results for the year ending September 30, 2016 (from October 1, 2015 to September 30, 2016)
Net sales
Millions of yen
Six months ending
March 31, 2016
Full year

Percentages indicate year-on-year changes
Profit attributable toNet income
Operating income
Ordinary income
owners of parent
per share% Millions of yen% Millions of yen% Millions of yen%
Yen

23,200

6.0

1,690

(3.8)

1,810(14.9)

1,190

1.1

28.05

49,430

4.7

4,380

0.6

4,640(4.4)

3,070

0.9

72.36

4. Notes(1) Changes in significant subsidiaries during the year ended September 30, 2015(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements after error corrections:No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2015

42,708,154 shares As of September 30, 2014

42,708,154 shares

Number of treasury shares at the end of the period
As of September 30, 2015

281,069 shares As of September 30, 2014

1,180,479 shares

41,596,530 shares Year ended September 30, 2014

41,527,937 shares

Average number of shares during the period
Year ended September 30, 20152

Reference: Summary of non-consolidated financial results
1. Non-consolidated financial results for the year ended September 30, 2015 (from October 1, 2014 to September 30, 2015)(1) Non-consolidated financial results
Percentages indicate year-on-year changes
Net salesYear ended September 30, 2015
Year ended September 30, 2014

Millions of yen
36,081
36,251

Operating income% Millions of yen
(0.5)
2,836
(4.5)
2,790

Net income per share
Yen
49.73
52.44

Year ended September 30, 2015
Year ended September 30, 2014

Ordinary income% Millions of yen
1.6
3,405
(32.9)
3,356

Net income% Millions of yen
1.5
2,068(41.0)
2,177%(5.0)(35.3)

Diluted net income
per share
Yen––(2) Non-consolidated financial position
Total assetsAs of September 30, 2015
As of September 30, 2014
Reference: Equity

Net assets

Millions of yen
91,86884,198Millions of yen
72,32067,038

As of September 30, 2015

¥72,320 million

As of September 30, 2014

¥67,038 million

Equity ratio

Net assets per share
%
78.7
79.6

Yen
1,704.57
1,614.30

2. Forecast of non-consolidated financial results for the year ending September 30, 2016 (from October 1, 2015 to September 30, 2016)
Percentages indicate year-on-year changes
Net income
Net sales
Operating income
Ordinary income
Net income
per share
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Six months ending
17,230
3.0
1,050
7.0
1,210
(9.6)
800
21.6
18.86
March 31, 2016
Full year
37,080
2.8
2,840
0.1
3,190
(6.3)
2,140
3.5
50.44
* Indication regarding execution of audit proceduresThis financial results report is exempt from the audit procedures in accordance with the Financial Instruments and Exchange Act. At the time ofdisclosure of this financial results report, the audit procedures for financial statements in accordance with the Financial Instruments andExchange Act have not been completed.
* Proper use of forecasts of financial results, and other special matters
The forward-looking statements, including the earnings forecasts, shown in this document are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize suchstatements. Actual results may differ substantially due to various factors.

3

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of September 30, 2014

As of September 30, 2015

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

10,40914,917

9,674
16,389Securities
Merchandise and finished goods

10,4995,954

10,9995,917Work in process
Raw materials and supplies

166
4,511

154
5,276

578
876

624
713

Deferred tax assets
Other
Allowance for doubtful accounts

(4)

(4)

47,90949,74432,446

36,100

Accumulated depreciation(17,203)(18,582)

Buildings and structures, net

15,242

17,517

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures

Machinery, equipment and vehicles

34,22335,647

Accumulated depreciation(28,356)(29,743)

5,867

5,904

5,346

5,992

Accumulated depreciation(4,339)(4,809)Tools, furniture and fixtures, net

1,006

1,182

Land

6,551

6,555

Construction in progress

2,088

1,455

Total property, plant and equipment

30,75532,614

Goodwill
Other–
427

1,319
1,220

Machinery, equipment and vehicles, net
Tools, furniture and fixtures

Intangible assets

Total intangible assets

427

2,540

Investments and other assets
Investment securities

11,982

15,742

Deferred tax assets
Net defined benefit asset

31
127
6

Other
Allowance for doubtful accounts

891
(54)

989
(60)

Total investments and other assets

12,853

16,70544,03651,86091,946

101,604

Total non-current assets
Total assets

4

(Millions of yen)
As of September 30, 2014

As of September 30, 2015

Liabilities
Current liabilities
Notes and accounts payable - trade

5,617

5,896

170
358

5863

Provision for bonuses
Provision for directors' bonuses

1,000
41

1,054
36

Asset retirement obligations
Other–
3,182

78
4,172

Total current liabilities

10,37012,107

Current portion of long-term loans payable
Income taxes payableNon-current liabilities
Long-term loans payable–151

Deferred tax liabilities
Net defined benefit liability

1,037
6,329

2,237
6,490

Provision for directors' retirement benefits
Asset retirement obligations

1,220
147

1,066
69

Other43

46

8,778

10,061

19,14922,168

Capital stock
Capital surplus

5,364
6,700

5,364
7,292

Retained earnings
Treasury shares

55,440(1,480)57,173(321)

Total shareholders' equity

66,02569,509Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

5,631

8,404

Foreign currency translation adjustment
Remeasurements of defined benefit plans

1,461(322)

1,817(295)

Total accumulated other comprehensive income

6,771

9,926

Total net assets
Total liabilities and net assets

572,796

79,43691,946

101,604

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
September 30, 2014Fiscal year ended
September 30, 2015

Net sales

44,91747,228

Cost of sales

28,55829,949Gross profit

16,35917,278

835
4,957

830
5,315

Provision for bonuses
Provision for directors' bonuses

623
41

669
36

Retirement benefit expenses
Provision for directors' retirement benefits

500
150

541
150

Welfare expenses
Depreciation

943
730

1,029
755

Amortization of goodwill
Other–
3,195

127
3,468

Total selling, general and administrative expenses

11,977

12,925

4,381

4,352

Interest income
Dividend income

56
183

54
196

Foreign exchange gains
Other251111183
115

Total non-operating income

602

548

110Rent expenses on facilities
Other32932
5

Total non-operating expenses

4449

4,939

4,852

19–

19––

61

127–

165
12Selling, general and administrative expenses
Packing and transportation expenses
Salaries and allowances

Operating income
Non-operating income

Non-operating expenses
Interest expenses

Ordinary income
Extraordinary income
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Impairment loss
Loss on abandonment of non-current assets
Loss on valuation of investment securities

127239

Income before income taxes and minority interests

Total extraordinary losses

4,832

4,613

Income taxes - current

1,111

1,370

Income taxes - deferred

481

199

Total income taxes

1,593

1,569

Income before minority interests

3,239

3,043

Net income

3,239

3,043

6

Consolidated statements of comprehensive income(Millions of yen)

Income before minority interests
Other comprehensive income

Fiscal year ended

Fiscal year ended

September 30, 2014

September 30, 2015

3,239

3,043

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

1,473
1,220

2,772355

Remeasurements of defined benefit plans, net of tax

–

27

2,693

3,155

Comprehensive income

Total other comprehensive income

5,932

6,198

Comprehensive income attributable toComprehensive income attributable to owners of parent

5,932

6,198

Comprehensive income attributable to minority interests

–

–

7

Consolidated statements of changes in equity
Fiscal year ended September 30, 2014
(Millions of yen)
Shareholders' equity
Treasury

Capital stock

Capital surplus

Retainedearnings

Treasury sharesstock(employees' Gross treasuryshareholding

stockassociation)

Balance at beginning of current
period

5,364

6,700

53,655(1,350)(270)(1,621)

Cumulative effects of changes
in accounting policies
Restated balance

Totalshareholders'equity
64,099
–

5,364

6,700

53,655(1,350)(270)(1,621)64,099Changes of items during period
Dividends of surplus(1,453)(1,453)

Net income

3,239

3,239

Purchase of treasury shares
Disposal of treasury shares

0(1)

(1)

(1)

000141

141

141

Sale of treasury stock from
employees' shareholding
association
Net changes of items other thanshareholders' equity
Total changes of items during
periodBalance at end of current period

–

0

1,785

(0)

141

140

1,925

5,364

6,700

55,440(1,351)(129)(1,480)66,025

Accumulated other comprehensive income
Valuationdifference on
available-for-salesecurities

Balance at beginning of current
period4,158

Foreigncurrencytranslation
adjustment

Remeasurementsof defined
benefit plans

241

–

Total
accumulated
Total net assets
othercomprehensive
income4,399

Cumulative effects of changes
in accounting policies
Restated balance

68,499–

4,158

241

–

4,399

68,499Changes of items during period
Dividends of surplus(1,453)

Net income

3,239

Purchase of treasury shares(1)

Disposal of treasury shares

0

Sale of treasury stock from
employees' shareholding
association

141

Net changes of items other thanshareholders' equity

1,473

1,220(322)

2,371

2,371

Total changes of items during
period1,473

1,220(322)

2,371

4,297

Balance at end of current period

5,631

1,461(322)

6,771

72,796

8

Fiscal year ended September 30, 2015
(Millions of yen)
Shareholders' equity
Treasury

Capital stock

Capital surplus

Retainedearnings

Treasury sharesstock(employees' Gross treasury
shareholdingstockassociation)

Balance at beginning of current
period

5,364

6,700

55,440

Cumulative effects of changes
in accounting policies
Restated balance(1,351)(129)(1,480)

(64)
5,364

6,700

Total
shareholders'equity66,025(64)

55,376(1,351)(129)(1,480)65,961

Changes of items during period
Dividends of surplus(1,245)(1,245)

Net income

3,043

3,043

Purchase of treasury shares
Disposal of treasury shares

591

(0)

(0)

(0)

1,030

1,030

1,621

129

129

129

Sale of treasury stock from
employees' shareholding
association
Net changes of items other thanshareholders' equity
Total changes of items during
periodBalance at end of current period

–

591

1,797

1,029

129

1,159

3,547

5,364

7,292

57,173

(321)

–

(321)

69,509

Accumulated other comprehensive income
Valuationdifference on
available-for-salesecurities

Balance at beginning of current
period5,631

Foreigncurrencytranslation
adjustment

Remeasurementsof defined
benefit plans

1,461(322)

Totalaccumulated
Total net assets
othercomprehensive
income6,771

Cumulative effects of changes
in accounting policies
Restated balance

72,796(64)

5,631

1,461(322)

6,771

72,732

Changes of items during period
Dividends of surplus(1,245)

Net income

3,043

Purchase of treasury shares(0)

Disposal of treasury shares

1,621

Sale of treasury stock from
employees' shareholding
association

129

Net changes of items other thanshareholders' equity

2,772

355

27

3,155

3,155

Total changes of items during
period2,772

355

273,155

6,703

Balance at end of current period

8,404

1,817(295)9,92679,436

9

Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Income before income taxes and minority interests

Fiscal year ended

Fiscal year ended

September 30, 2014

September 30, 2015

4,832

4,613

2,910
–

3,017
61–

127(65)–124(153)

1450

Increase (decrease) in provision for directors' bonuses
Increase (decrease) in allowance for doubtful accounts

(18)
2(4)
6

Increase (decrease) in net defined benefit liability
Interest and dividend income

49(239)121(250)

Interest expenses
Foreign exchange losses (gains)

1(191)

10(163)

Loss on abandonment of non-current assets
Loss (gain) on sales and valuation of investment securities

127
(19)

165
12

Decrease (increase) in notes and accounts receivable - trade
Decrease (increase) in inventories

433
(665)

(1,138)(463)

Increase (decrease) in notes and accounts payable - trade
Increase (decrease) in accrued consumption taxes

(7)
(128)

183
391

Other, net(207)(38)

Subtotal

6,952

6,550

238

249

Interest expenses paid
Income taxes paid

(2)(2,169)(9)(820)

Net cash provided by (used in) operating activities

5,019

5,969(20)(94)

Proceeds from withdrawal of time deposits
Purchase of securities

20(2,999)

56–

Proceeds from redemption of securities
Purchase of property, plant and equipment

7,000(5,334)–(3,293)

Payments for retirement of property, plant and equipment
Purchase of intangible assets

(94)
(92)

(160)
(138)

Purchase of investment securities
Proceeds from sales of investment securities(31)
69(31)–

Collection of lease depositsExpenditure of capital increase of subsidiary

21––(84)

Purchase of shares of subsidiaries
Payments for asset retirement obligations

(25)
(37)

(3,026)(3)

67(1,518)(6,769)Depreciation
Impairment loss
Amortization of goodwill
increase (decrease) in accounts payable-abolishment ofretirement benefit plan
Increase (decrease) in provision for directors' retirement
benefits
Increase (decrease) in provision for bonuses

Interest and dividend income received

Cash flows from investing activities
Payments into time deposits

Other, net
Net cash provided by (used in) investing activities

10

(Millions of yen)
Fiscal year ended

Fiscal year ended

September 30, 2014

September 30, 2015

Cash flows from financing activities
Repayments of long-term loans payable

(157)

(197)

Purchase of treasury shares
Proceeds from sales of treasury shares

(1)
153

(0)
160

–
(1,453)

1,621(1,246)(2)–

Net cash provided by (used in) financing activities(1,460)337

Effect of exchange rate change on cash and cash equivalents

262

165

Proceeds from disposal of treasury stock to a third party
Cash dividends paidRepayments of finance lease obligations

Net increase (decrease) in cash and cash equivalents

2,303(297)

Cash and cash equivalents at beginning of period

18,59520,898Cash and cash equivalents at end of period

20,89820,60111