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 Three Months Ended December 31, 2016
(Based on Japanese GAAP)
February 3, 2017
Company name:T. HASEGAWA CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

4958
URLPresident & COO

http://www.t-hasegawa.co.jp/Takahiko Kondo

Inquiries:
Director, Deputy President & CFO
Scheduled date to file Quarterly Securities Report:

Takao Umino
February 14, 2017

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:

NoTEL

03-3241-1151(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended December 31, 2016 (from October 1, 2016 to December 31, 2016)(1) Consolidated operating results (cumulative)
Net sales
Three months ended December 31, 2016
Three months ended December 31, 2015
Note: Comprehensive income

Millions of yen
11,542
11,209Percentages indicate year-on-year changes
Profit attributable toOperating income
Ordinary income
owners of parent% Millions of yen% Millions of yen% Millions of yen
%
3.0
1,458
61.0
1,659
82.8
1,166
63.4
7.5
906
63.4
907
12.2
713
29.3

Three months ended December 31, 2016

¥3,105 million [80.0 %]Three months ended December 31, 2015

¥1,724 million [(32.6) %]Earnings per share

Diluted earnings per share

Yen
27.49
16.82

Three months ended December 31, 2016
Three months ended December 31, 2015

Yen
27.47–(2) Consolidated financial position
Total assets
Millions of yen
102,673
100,853

As of December 31, 2016
As of September 30, 2016
Reference: Equity

Net assets

As of December 31, 2016
As of September 30, 2016

Equity ratio

Millions of yen
82,33579,939

%
80.1
79.2

¥82,285 million¥79,902 million

2. Cash dividends
Annual dividends per share

Year ended September 30, 2016
Year ending September 30, 2017
Year ending September 30, 2017
(Forecast)

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
15.00

Yen–

Yen
17.00

Yen–

16.00

–

16.00

32.00

Note: Revision of cash dividend forecast most recently announced: No1Total

3. Forecast of consolidated financial results for the year ending September 30, 2017 (from October 1, 2016 to September 30, 2017)

Net sales
Millions of yen
Six months ending
March 31, 2017
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating income
Ordinary income
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%Yen

22,840

0.1

2,410

6.5

2,520

12.3

1,780

15.4

41.95

48,000

0.9

5,610

8.7

5,830

12.9

4,070

11.9

95.93

Note: Revision of consolidated financial results forecast most recently announced: No
4. Notes(1) Changes in significant subsidiaries during the three months ended December 31, 2016(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

Yes(3) 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:
Changes in accounting policies due to other reasons:

NoNo

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2016

42,708,154 shares As of September 30, 2016

42,708,154 shares

Number of treasury shares at the end of the period
As of December 31, 2016

281,329 shares As of September 30, 2016

281,269 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended December 31, 2016

42,426,855 shares Three months ended December 31, 2015

42,427,085 shares* Indication regarding execution of quarterly review proceduresThis quarterly financial results report is exempt from the review procedures in accordance with the Financial Instruments and Exchange Act. At
the time of disclosure of this quarterly financial results report, the review procedures for quarterly financial statements in accordance with theFinancial Instruments and Exchange 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.

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Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of September 30, 2016

As of December 31, 2016

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

11,33615,312

12,33815,819Securities
Merchandise and finished goods

10,999
6,190

8,999
6,293

Work in process
Raw materials and supplies

103
5,152

73
5,349

Other
Allowance for doubtful accounts

1,242
(4)

1,315(4)Total current assets

50,33350,186

Buildings and structures, net
Other, net

17,18013,13018,357
13,426

Total property, plant and equipment

30,311

31,784Non-current assets
Property, plant and equipment

Intangible assets
Goodwill

1,066

1,100

Other

1,079

1,136

Total intangible assets

2,145

2,236

17,2702

17,652
3

Other
Allowance for doubtful accounts

846
(56)

866
(56)

Total investments and other assets

18,063

18,46650,52052,487

100,853

102,673

5,661

5,504

5737

119
492

1,116
58

257
–

Other

2,876

3,456

Total current liabilities

10,455

9,829

Long-term loans payable
Deferred tax liabilities

116
2,608

4
2,817

Net defined benefit liability
Asset retirement obligations

6,590
70

6,53370Long-term accounts payable - other
Other

1,027
46

1,022
60

Total non-current liabilities

10,45810,507

20,914

20,337

Investments and other assets
Investment securities
Net defined benefit asset

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Current portion of long-term loans payable
Income taxes payable
Provision for bonuses
Provision for directors' bonuses

Non-current liabilities

Total liabilities

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(Millions of yen)
As of September 30, 2016

As of December 31, 2016

Net assets
Shareholders' equity
Capital stock

5,364

5,364

Capital surplus
Retained earnings

7,292
59,538

7,292
59,984

Treasury shares

(322)

(322)

71,87372,318

9,695(1,367)

9,985
272

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans

(299)

(290)

Total accumulated other comprehensive income

8,028

9,967

Subscription rights to shares
Total net assets
Total liabilities and net assets

43750

79,93982,335

100,853

102,673

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

December 31, 2015

December 31, 2016

Net sales
Cost of sales

11,209
7,071

11,542
6,986

Gross profit

4,137

4,555

Selling, general and administrative expenses

3,231

3,097

906

1,458

Interest income
Dividend income

728

924

Foreign exchange gains
Other–
20

173
19

Total non-operating income

56

226

22

Rent expenses on facilities
Foreign exchange losses

2225

21–

Other

40

Operating income
Non-operating income

Non-operating expenses
Interest expenses

5424

Ordinary income

Total non-operating expenses

907

1,659

Extraordinary income
Gain on sales of investment securities

14255

14255

517

517

1,044

1,698

Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes

331

531

Profit713

1,166

Profit attributable to owners of parent

713

1,166

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

December 31, 2015

December 31, 2016
713

1,166

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

1,263
(262)

290
1,639

Remeasurements of defined benefit plans, net of tax

98

1,011

1,938

Comprehensive income

Total other comprehensive income

1,724

3,105

Comprehensive income attributable toComprehensive income attributable to owners of parent

1,724

3,105––

Comprehensive income attributable to non-controllinginterests6

Segment Information
1. Three months ended December 31, 2015 (from October 1, 2015 to December 31, 2015)
Net sales and profit or loss by reporting segment(Millions of yen)
Reporting segment
JapanAsia

USA

Total

Adjustment(Note 1)

Consolidated(Note 2)

Net sales
Sales to external customers
Inter-segment sales or transfers

8,568
164

1,851
88

789
19

11,209272－(272)

11,209－

Total

8,732

1,939

809

11,482(272)

11,209

755

190

(24)

920

(12)

907

Segment profit or lossNotes
1. The adjustments on segment profit or loss of negative 12 million yen include 2 million yen adjustments of inventories related
to inter-segment transactions, negative 15 million yen foreign currency translation related to inter-segment asset and liability
eliminations and negative 0 million yen for others.
2. Segment profit or loss is adjusted to ordinary income of consolidated quarterly statements of income.
2. Three months ended December 31, 2016 (from October 1, 2016 to December 31, 2016)
Net sales and profit or loss by reporting segment(Millions of yen)
Reporting segment
JapanAsiaUSA

TotalAdjustment(Note 1)

Consolidated(Note 2)

Net sales
Sales to external customers
Inter-segment sales or transfers

8,782
166

1,903
96

856
28

11,542291－(291)

11,542
－

Total

8,949

1,999

885

11,834(291)11,542

Segment profit

1,196

387

27

1,611

48

1,659

Notes
1. The adjustments on segment profit of 48 million yen include 53 million yen adjustments of inventories related to inter-segment
transactions, negative 5 million yen foreign currency translation related to inter-segment asset and liability eliminations and 0million yen for others.
2. Segment profit is adjusted to ordinary income of consolidated quarterly statements of income.

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