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[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

Summary of Financial and Business Results for the Third Quarterof the Fiscal Year Ending February 2013
January 11, 2013
Ichigo Group Holdings Co., Ltd. (JASDAQ, 2337)
Representative: Kenji Iwasaki, President and Representative Statutory Executive Officer
Inquiries:Takashi Minamikawa, Executive Managing Director and Statutory Executive Officer
Telephone: +81-3-3502-4818
www.ichigo-holdings.co.jp/english
Date of Submission of Shihanki Hokokusho (Quarterly Report): January 15, 2013 (expected)
Date of Dividend Payment: N/A
Supplemental Material to Financial and Business Results: Yes
Financial and Business Results Briefing: Yes (for institutional investors and analysts)
1. Consolidated Financial Results (from March 1, 2012 to November 30, 2012)(1) Consolidated Financial Results (Accumulated)(% change is year-on-year)
Revenues

Operating Profit

Recurring Profit

Net Profit(million yen)(%)(million yen)(%)(million yen)(%)(million yen)(%)

Feb 13 Q3

11,585-29.1

1,173

103.1

1,074

100.7

944-35.5

Feb 12 Q3

16,34059.2

577-39.5

535-57.9

1,464-45.1

Note: Comprehensive income

Feb 13 Q3: 1,454 million yen (110.5%)

Net Profit per
Share (basic, yen)Feb 12 Q3: 691 million yen (-%)

Net Profit per
Share(diluted, yen)Feb 13 Q3

422.30-Feb 12 Q3

637.17-(2) Consolidated Financial Condition

Feb 13 Q381,66629,737

33.3

Net Assets per
Share(yen)12,149.63

Feb 12

82,17028,187

31.6

11,613.85

Total Assets(million yen)

Net Assets(million yen)

Reference: Shareholders’ equity

Equity Ratio(%)

Feb 13 Q3: 27,170 million yen

Feb 12: 25,972 million yen

2. Dividends
Dividend per Share (yen)SecondThird
FourthQuarter
Quarter
QuarterFirstQuarterFeb 12-0-

Feb 13-0-

Feb 13 (Expected)
Note: Changes in the dividend forecast during the period: None

FiscalYear00200200

3. Consolidated Forecast for the Fiscal Year Ending February 2013 (from March 1, 2012 to February28, 2013)(% change is year-on-year)
Revenues
FY 13 Full Year

Operating Profit(million yen)(%)

17,000-10.3

Net Profit(million yen)(million yen)

1,500(%)

42.9

Recurring Profit(million yen)

1,200(%)

22.5

Net Profit per Share
(%)

(Yen)

FY 13 Full Year
1,000-43.5
447.16Note 1: Changes in the forecast during the period: None
Note 2: The forecast for Net Profit per Share has been estimated under the assumption that the number ofoutstanding shares as of the third quarter-end is unchanged through the end of the full fiscal year.

4. Other(1) Changes in significant consolidated subsidiaries (material changes in scope of consolidation):None(2) Application of accounting treatment specific to interim consolidated financial statements: None
(3) Changes in accounting principles and accounting estimates and revisions to previous financialstatements(i) Changes in accounting principles due to the amendment of accounting standards: Yes(ii) Changes in accounting principles other than the above: None(iii) Changes in accounting estimates: Yes(iv) Revisions of previous financial statements: None
Note: The depreciation method was amended after FY13 Q1, which qualifies as “a case which cannot beclassified as either a change in accounting principles or a change in accounting estimates.”(4) Number of outstanding shares (common shares)(i) Number of outstanding shares including treasury stock
Feb 13 Q3:2,256,319
Feb 12:
2,256,319(ii) Number of shares of treasury stock
Feb 13 Q3:
20,000Feb 12:20,000(iii) Average number of outstanding sharesFeb 13 Q3:2,236,319
Feb 12 Q3:
2,298,951*Implementation Status of Quarterly Review ProceduresAt the time of this release, the quarterly summary of financial and business results was reviewed pursuant tothe procedures for quarterly consolidated financial statements under the Financial Instruments and ExchangeAct, although technically it is not subject to the quarterly review procedures under the Act.
*Explanation on Appropriate Use of Earnings Projection
Forward-looking statements contained in these materials are based on judgments regarding information that
was available to the Company and the Group as of the announcement date. However, these statements involverisk and uncertainties. Therefore, please note that actual earnings may differ significantly from the indicatedearnings projection as a result of various factors.
2Consolidated Balance Sheet
Feb 12 Full Year
(Feb 29, 2012)
AssetsCurrent Assets
Cash and cash equivalents
Trade notes and accounts receivable
Operational investments in loans
Operational investments in securities
Real estate for sale
OthersLess: allowance for doubtful accounts
Total Current Assets
Fixed Assets
Tangible Assets
Intangible Assets
Goodwill
OthersTotal Intangible Assets
Investments and Other Assets
Investments in securities
Long-term loans receivable
Other investments
Less: allowance for doubtful accounts
Total Investments and Other Assets
Total Fixed Assets
Total Assets
Liabilities
Current Liabilities
Trade notes and accounts payable
Short-term borrowings
Long-term borrowings (due within one year)
Long-term non-recourse loans (due within oneyear)
Income taxes payable
Accrued bonuses
Other current liabilities
Total Current Liabilities
Long Term Liabilities
Long-term borrowings
Long-term non-recourse loans
Long-term security deposits received
Negative goodwill
Other long-term liabilities
Total Long Term Liabilities
Total Liabilities

3(Million Yen)Feb 13 Q3(Nov 30, 2012)

9,791
1,069
2,527
4,226
49,674
1,465(2,930)
65,824

10,499
673
2,528
3,826
48,825
1,975(3,147)65,181

10,10910,090

2,077
27
2,105

2,234
21
2,255

3,589
14
623
(96)
4,131
16,34682,170

3,647
13
573
(95)
4,139
16,48581,666

57
170
1,768

71
989
1,002

8,793

2,366

115
22
2,974
13,902

45
149
3,217
7,842

7,413
28,8993,362
360
4340,08053,982

6,391
33,9853,342
293
73
44,08651,929Feb 12 Full Year
(Feb 29, 2012)
Net Assets
Shareholders’ Equity
CapitalCapital reserve
Retained earnings
Treasury stock
Total Shareholders’ Equity
Accumulated Other Comprehensive Income
Unrealized gain (loss) on other securities, net
Foreign currency translation adjustment
Total Accumulated Other Comprehensive Income(loss)
Stock Acquisition Rights
Minority Interests
Total Net Assets
Total Liabilities and Net Assets

4(Million Yen)Feb 13 Q3(Nov 30, 2012)

18,078
2,395
6,298
(187)
26,584

18,078
2,395
7,242
(187)
27,528

(604)
(7)

(346)
(11)

(612)

(358)

116
2,099
28,18782,170

146
2,420
29,737
81,666

Consolidated Income Statement(Million Yen)Feb 13 Q3

Feb 12 Q3
(From Mar 1, 2011
To Nov 30, 2011)

Revenues
Cost of Revenues
Gross Profit
SG&A
Operating Profit
Non-Operating Profit
Interest income
Dividend income
Equity in earnings of affiliates
Amortization of negative goodwill
OthersTotal Non-Operating Profit
Non-Operating Expenses
Interest on debt
OthersTotal Non-Operating Expenses
Recurring Profit
Extraordinary Gain
Gain on sales of investment securities
Gain on sales of equity holdings in affiliates
OthersTotal Extraordinary Gain
Extraordinary Loss
Loss on sale and retirement of fixed assets
Loss on valuation of investment securities
Valuation loss on investments
Office moveOthers
Total Extraordinary Loss
Profit before Income Taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Profit before Gain on Minority Interests
Gain on Minority Interests
Net Profit

5(From Mar 1, 2012
To Nov 30, 2012)

16,34013,471
2,868
2,290
577

11,585
8,108
3,476
2,302
1,173

0
19
141
67
26
256

2
22
67
25
118

226
72
298
535

198
20
218
1,074

1,173
171,190

72
982

37
40
14
35
128
1,597
96
96
1,501361,464

062139861,070
484531,01772944

Consolidated Income Statement(Million Yen)Feb 13 Q3

Feb 12 Q3
(From Sep 1, 2011
To Nov 30, 2011)

Revenues
Cost of Revenues
Gross Profit
SG&A
Operating Profit
Non-Operating Profit
Interest income
Dividend income
Amortization of negative goodwill
OthersTotal Non-Operating Profit
Non-Operating Expenses
Interest on debt
OthersTotal Non-Operating Expenses
Recurring Profit
Extraordinary Gain
Gain on sales of investment securities
OthersTotal Extraordinary Gain
Extraordinary Loss
Loss on sale and retirement of fixed assets
Loss on valuation of investment securities
OthersTotal Extraordinary Loss
Profit before Income Taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Profit before Gain on Minority Interests
Gain (loss) on Minority Interests
Net Profit

6(From Sep 1, 2012
To Nov 30, 2012)

3,610
2,563
1,047
784
262

3,948
2,689
1,258
780
478

0
7
22
1
31

2
922
3
37

61
14
75
218

54
4
59
457

7772
881

5
1
6218
49
49
169
(2)
172

062
972
467
19423443
34408

Consolidated Statements of Comprehensive Income(Million Yen)Feb 12 Q3
(From Mar 1, 2011
To Nov 30, 2011)

Profit before Gain on Minority Interests
Other Comprehensive Income
Valuation gain (loss) on other securities
Foreign currency translation adjustment
Share of other comprehensive income associates
accounted for using equity method
Total Other Comprehensive Income
Comprehensive Income(Breakdown)Comprehensive income for shareholders of theparent company
Comprehensive income for minority interests

7Feb 13 Q3(From Mar 1, 2012
To Nov 30, 2012)

1501

1,017

(673)
(80)

486
(48)

(56)

-(810)
691

437
1,454

729

1,198

(38)256

Consolidated Statements of Comprehensive Income(Million Yen)Feb 12 Q3
(From Sep 1, 2011
To Nov 30, 2011)

Profit before Gain on Minority Interests
Other Comprehensive IncomeValuation gain (loss) on other securities
Foreign currency translation adjustment
Total Other Comprehensive Income
Comprehensive Income(Breakdown)Comprehensive income for shareholders of theparent company
Comprehensive income for minority interests8

Feb 13 Q3(From Sep 1, 2012
To Nov 30, 2012)

169

443

(181)
(18)
(199)
(29)

348
54
403
846

(26)

804

(3)

41

Consolidated Cash Flow Statement(Million Yen)Feb 12 Q3
(From Mar 1, 2011
To Nov 30, 2011)

Cash Flows from Operating Activities:
Income before income taxes
Depreciation
Share-based compensation expenses
Amortization of goodwill
Amortization of negative goodwill
Increase (decrease) in accrued bonuses
Increase (decrease) in allowance for doubtful
accounts
Interest and dividend income
Interest on debt
Issuance cost of corporate bonds
Equity in earnings of affiliates (gain)
Loss (gain) on sales of equity holdings in affiliates
Loss (gain) on sales of investment securities
Loss (gain) on sales/retirement of fixed assets
Loss on valuation of investment securities
Valuation loss on investments
Decrease (increase) in trading notes and receivable
Decrease (increase) in operating loans receivable
Decrease (increase) in operational investments
in securities
Loss on valuation of operational investments
in securities
Decrease (increase) in real estate for sale
Evaluation loss in real estate for sale
Decrease (increase) in accounts receivable
Increase (decrease) in accounts payable
Increase (decrease) in accrued expenses
Increase (decrease) in security deposits received
Other, netSub-total
Interest and dividend income received
Interest expenses paid
Income taxes paid
Net Cash from (Used for) Operating Activities

9Feb 13 Q3(From Mar 1, 2012
To Nov 30, 2012)

1,597
118
29
79(67)
189

1,070
170
30
83(67)
126(3,497)

215

(20)
226
47(141)(1,173)
37
40
89
651

(25)
198
(72)
(8)
62
396
-

3,173

804

88

25

1,426
142
(156)
(127)
647
(236)
(366)
2,797
165
(251)
(139)
2,571

707
119
(225)
(11)
199(136)
(404)
3,256
25(186)
(105)
2,990

(Million Yen)Feb 12 Q3
(From Mar 1, 2011
To Nov 30, 2011)

Cash Flows from Investing Activities:
Decrease in time deposits
Proceeds from withdrawal of time deposits
Proceeds from sales of investment securities
Proceeds from redemption of investment securities
Proceeds from sale of securities in affiliates
Acquisition of property and equipment
Proceeds from sale of property and equipment
Acquisition of intangible assets
Payments for investments in capital
Proceeds from sales of investments in capital
Payments for acquisitions of subsidiaries resulting
in the change of consolidation scopeCollection of loans receivable
Other, netNet Cash from (Used for) Investing Activities
Cash Flows from Financing Activities:
Increase (decrease) in short-term bank loans, net
Issuance of bonds
Redemption of corporate bonds
Issuance of non-recourse bonds
Redemption of non-recourse bonds
New long-term debt
Repayment of long-term debt
New non-recourse loans
Repayment of non-recourse loans
Share repurchase
Share issuance to minority shareholders
Payments to minority shareholders for redemptionof common stock
Cash dividends paid
Cash dividends paid to minority shareholders
Net Cash from (Used for) Financing Activities
Effect of Exchange Rate Changes
on Cash and Cash Equivalents
Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Period
Cash and Cash Equivalents Excluded fromConsolidation
Cash and Cash Equivalents at End of Period

10Feb 13 Q3(From Mar 1, 2012
To Nov 30, 2012)

(352)
3,327
(31)
(4)
4(0)
151
76
30(66)
16(0)
(1)
-

(282)

(218)

0(5)
2,654

0
39
26(808)6,059(6,400)2,100(2,455)
2,050(2,472)
11,610(13,750)
(874)
-819
5,440
(7,227)4,500(5,581)20(30)

(19)

(0)
(66)
(5,038)(0)(2,048)

(45)

13

141
12,343981
9,438(2,242)(122)

10,242

10,297