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 Six Months Ended March 31, 2017
(Based on Japanese GAAP)May 12, 2017
Company name:T. HASEGAWA CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

4958
URL
President & COO

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

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

Takao Umino
May 15, 2017

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

June 1, 2017
Yes

Holding of quarterly financial results meeting:

Yes

TEL

03-3241-1151(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended March 31, 2017 (from October 1, 2016 to March 31, 2017)(1) Consolidated operating results (cumulative)
Net sales
Six months ended March 31, 2017
Six months ended March 31, 2016
Note: Comprehensive income

Millions of yen
22,991
22,825Percentages indicate year-on-year changes
Profit attributable toOperating income
Ordinary income
owners of parent% Millions of yen% Millions of yen% Millions of yen
%
0.7
3,077
35.9
3,363
49.9
2,351
52.4
4.3
2,263
28.8
2,243
5.4
1,543
31.0

Six months ended March 31, 2017

¥4,487 million [199.4 %]Six months ended March 31, 2016

¥1,499 million [(71.1) %]Earnings per share

Diluted earnings per share

Yen
55.4436.38

Six months ended March 31, 2017
Six months ended March 31, 2016

Yen
55.37
36.36

(2) Consolidated financial position
Total assets
As of March 31, 2017
As of September 30, 2016
Reference: Equity

Net assets

Millions of yen
104,266
100,853

As of March 31, 2017
As of September 30, 2016

Equity ratio

Millions of yen
83,731
79,939

%
80.2
79.2

¥83,668 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
16.00

Yen–

Yen
17.00

Yen
32.00

–

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

Full year

Millions of yen
48,000Percentages 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%Yen0.95,610
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 six months ended March 31, 2017(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoYes(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 March 31, 2017

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 March 31, 2017

281,449 shares As of September 30, 2016

281,269 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended March 31, 2017

42,426,791 shares Six months ended March 31, 2016

42,427,085 shares* Quarterly financial results reports are not required to be subjected to quarterly reviews.
* 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.

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

As of March 31, 2017

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

11,33615,312

12,80914,264

Securities
Merchandise and finished goods

10,9996,190

10,9996,670Work in process
Raw materials and supplies

103
5,152

173
5,279

Other
Allowance for doubtful accounts

1,242
(4)

1,148
(4)

Total current assets

50,33351,341

Buildings and structures, net
Other, net

17,18013,13018,121
13,182

Total property, plant and equipment

30,311

31,304Non-current assets
Property, plant and equipment

Intangible assets
Goodwill

1,066

1,040

Other

1,079

1,104

Total intangible assets

2,145

2,144

17,2702

18,665
4

Other
Allowance for doubtful accounts

846
(56)

862
(56)

Total investments and other assets

18,063

19,47650,52052,924

100,853

104,266

5,661

5,105

5737

11910

1,116
58

775
–

Other

2,876

2,903

Total current liabilities

10,455

9,705

Long-term loans payable
Deferred tax liabilities

116
2,608

3
3,135

Net defined benefit liability
Asset retirement obligations

6,590
70

6,538
70

Long-term accounts payable - other
Other

1,027
46

1,017
62

Total non-current liabilities

10,458

10,82820,914

20,534

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

3

(Millions of yen)
As of September 30, 2016

As of March 31, 2017

Net assets
Shareholders' equity
Capital stock

5,364

5,364

Capital surplus
Retained earnings

7,292
59,538

7,292
61,169Treasury shares

(322)

(322)

71,87373,504

9,695(1,367)

10,680(234)

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

(299)

(281)

Total accumulated other comprehensive income

8,028

10,164

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

43763

79,93983,731

100,853

104,266

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

Six months ended

March 31, 2016

March 31, 2017

Net sales
Cost of sales

22,825
14,32822,991
13,798Gross profit

8,497

9,193

Selling, general and administrative expenses

6,233

6,115

Operating income2,263

3,077

Interest income
Dividend income

15107

18115

Foreign exchange gains
Other–
47

136
46

Total non-operating income

170

316

5340
137

26–

61

Non-operating income

Non-operating expenses
Interest expenses
Rent expenses on facilities
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes

190

31

2,243

3,363

142

55

142551370

1370

2,373

3,348

829

996

Profit

1,543

2,351

Profit attributable to owners of parent

1,543

2,351

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

ProfitOther comprehensive income

Six months ended

Six months ended

March 31, 2016

March 31, 2017
1,543

2,351

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

967(1,024)984
1,133

Remeasurements of defined benefit plans, net of tax

1317(44)

2,135

Comprehensive income

Total other comprehensive income

1,499

4,487Comprehensive income attributable toComprehensive income attributable to owners of parent

1,499

4,487

––

Comprehensive income attributable to non-controllinginterests

6

Segment Information
1. Six months ended March 31, 2016 (from October 1, 2015 to March 31, 2016)
Net sales and income 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

17,062
293

4,113
204

1,650
40

22,825538－(538)

22,825－

Total

17,355

4,3171,690

23,363(538)22,825

Segment income or loss

1,604

655

(10)

2,249

(5)

2,243

Notes
1.

Negative 5 million yen of the adjustment regarding segment income or loss include negative 4 million yen of foreignexchange profit or loss related to inter-segment asset and liability eliminations, the adjustments of negative 1 million yen
regarding inventories related to inter-segment transactions, and negative 0 million yen for others.

2.

Segment income or loss is adjusted to ordinary income of consolidated quarterly statements of income.

2. Six months ended March 31, 2017 (from October 1, 2016 to March 31, 2017)
Net sales and income 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

17,313
259

3,881
170

1,796
93

22,991
522

－
(522)

22,991－

Total

17,572

4,052

1,889

23,514(522)

22,991

Segment income

2,461

731

125

3,317

46

3,363

Notes
1.

46 million yen of the adjustment regarding segment income include 2 million yen of foreign exchange profit or loss related
to inter-segment asset and liability eliminations, 43 million yen of the adjustment regarding inventories related tointer-segment transactions, and negative 0 million yen for others.

2.

Segment income is adjusted to ordinary income of consolidated quarterly statements of income.

7