Consolidated Business Results
For the Fiscal Year Ending
March 31, 2012
Bando Chemical Industries, Ltd.

Financial Summary
Fiscal Year Ending
March 31, 2012

（1）Settlement of Accounts
 The production rates of many of our customers were affectedby the Great East Japan Earthquake, the massive floods inThailand and power supply constraints during the fiscal year.
Overall business conditions were harsh, but we were able torespond to production recovery and ensure increased revenues.
 Profit declined due to the effects of high raw materials costs
and yen appreciation.
 The sale of a former factory site and remotely-located company
housing resulted in significant extraordinary losses, and net
profit declined considerably for the term.
 With a focus on Asia, we accelerated capital investment andexpanded our sales networks in India, China, Vietnam, etc.
2（2）Summary of Results
Yen millions

FY2010FY2011

Year on year
ChangeRate of change

Net sales

84,811

86,372+1,560+1.8%

Operating income

5,056

4,570-485- 9.6%

Ordinary income

4,967

4,391-575- 11.6%

Net profit

3,333

1,440-1,893- 56.8%Overseas sales

34,676

33,686-989-2.9%（Rate of overseas sales）（40.9%）（39.0%）（-1.9pts）－Asia （Thailand, China,other）

27,443

26,422-1,021-3.7%

Other （America,Europe, other）

7,232

7,264

+31+0.4%

Exchange rates （Term average） US$=¥87.3

US$=¥79.5
3

（3）Quarterly Progression ofNet Sales and Operating Income
Yen millions

Yen millions

Consolidated net sales
Consolidated operating income

25,00022,12420,00018,686

19,130 19,740

20,58021,033 21,072 20,923

21,9653,000

22,61820,8642,500

16,0362,000

15,0001,650

1,09310,000

1,385826

1,184

1,070

1,282

1,203

1,500

1,014835
673

1,000

5,0005000- 143

0-500-5,000'09/1Q '09/2Q '09/3Q '09/4Q '10/1Q '10/2Q '10/3Q '10/4Q '11/1Q '11/2Q '11/3Q '11/4Q

4

（4）Net Sales by Business Segment
Yen millions
Year on year
FY2010FY2011
ChangeRate ofchange

84,811

86,372+1,560+1.8%

Power transmission

52,48353,591+1,107+2.1%

Multimedia parts

10,6369,020-1,616-15.2%

Industrial products

15,747

17,656+1,908+12.1%

Plastics products

4,837

4,923+85+1.8%

Other

2,113

1,796-317-15.0%

Net sales
Sales by business segment※Before eliminations
5（5）Profit by Segment
Yen millions
Year on year
FY2010FY2011
ChangeRate ofchange

Power transmission

7,448

6,845-602-8.1%

Multimedia parts

1,250

379-871-69.7%

Industrial products

400

1,407

+1,006+251.3%

Plastics products418

402-15-3.8%

Other

135

102-32- 24.4%

Total segment profit

9,653

9,137-516-5.3%

Corporate expenses,
etc.

-4,596-4,566+30+0.7%

5,056

4,570-485-9.6%

Operating income

6（6）Non-Operating Income (Expenses) andExtraordinary Income (Loss)Yen millions

FY2010Year on year

FY2011

Change5,056

4,570-485

Non-operating income

864

977+113

Non-operating expenses(954)(1,156)

+202

4,967

4,391-575

Extraordinary income

267

12-254Extraordinary loss

(324)

(1,635)+1,310(1,576)(1,329)

-247

3,333

1,440-1,893

Operating income

Ordinary income

Income taxes and minority
interests
Net profit

7（7）Balance Sheet Fluctuations
Yen millions
Major fluctuations

Major fluctuations

Cash & deposits -¥3.8 bil.
Accounts receivable+¥1.3 bil.
Inventories +¥900 mil.42,409
Deferred tax assets-¥300milCurrent
assets40,521Otherliabilities
25,619Bank loans
14,595

Accts. payable +¥2.5 bil.
24,708Other payables -¥800 mil.
17,653

Tangible fixed assets-¥1.1 bil.
Intangible assets-¥700 mil.

Fixed
assets39,137

Net assets
39,44240,542FY2010FY2011FY2011FY201082,90579,65979,65982,90540,495Investment securities+¥300 mil.

Accrued taxes -¥800 mil.

Bank loans -¥3.1bil.

Shareholders’ equity+¥100 mil.
Valuation and translation
adjustments -¥1.2 bil.

8

(8)Transition of Cash Flow
Yen millions

15,00010,000Operating activities
Investing activities
Free cash flow

＋7,805＋7,621

5,000＋9,529＋6,595＋5,577＋4,606＋2,684

0FY2007- 2,025-5,000-10,000＋8,724

FY2008FY2009FY2010＋1,828FY2011- 3,147- 4,937- 4,922- 4,767- 9,830-15,000
9

(9)Financial Indicators

FY2007

FY2008FY2009FY2010FY2011

ROE

12.3%

-0.6%

3.2%

8.5%

3.7%

ROA

5.8%

-0.3%

1.6%

4.0%

1.8%

Capital to asset
ratio

48.5%

48.7%

50.2%

47.9%

48.4%

Debt to equity
ratio

42.1%

47.3%

40.2%

44.5%

37.9%

Net interestbearing debt

¥14.3 bil.

¥12.2 bil.

¥7.1 bil.

¥2.7 bil.

¥3.5 bil.

※ROE、ROA are based on net profit102. FY2012 Earnings Forecast

(1) Outlook for FY2012
 We expect stable growth in Asian countries, but there aresome concerns in the year ahead, such as worsening financial
conditions in Europe, persistently high yen exchange rates,
continued high costs for raw materials, and power supplyconstraints in Japan.
 Domestic production restoration will continue following theGreat East Japan Earthquake.
 We will promote improved profitability through increased
productivity, thorough cost reductions and raw materials
procurement cost reductions.
With strengthened global competitiveness, we plan toincrease revenues and profit for the year.

12(2) FY2012 Forecast
Yen millions
FY2011FY2012

ResultForecast

Year on year
Change% change

86,37287,900+1,527+1.8%

Power transmission

53,591

54,700+1,108+2.1%

Multimedia parts

9,020

8,400-620-6.9%

Industrial products

17,65618,500+843+4.8%

Plastics products

4,923

5,300+376+7.7%

Other

1,796

1,700-96-5.3%

Operating income

4,570

6,200+1,629+35.6%

Ordinary income

4,391

6,100+1,708+38.9%Net profit

1,440

4,000

+2,559177.7%Net sales
Business segment

Exchange rates （Term average）※Sales forecasts are before eliminations

US$= ¥79.5

US$=¥7613

(3) Transition of Capital Investment
and Depreciation
Yen millions

Capital investment
Depreciation

7,000

6,500
6,073

6,000

5,651

5,411
4,907

5,000

4,804

4,700

4,258

4,176
4,0002,791

3,0002,0001,0000FY2008

FY2009FY2010FY2011FY2012 forecast
14(4) Shareholder Return (Dividends)
9Year-end dividend
8Mid-term dividend

76\2\4\4\4（forecast）

5\34
3\5\42\4\3\4（forecast）

10FY2008

FY2009FY2010FY2011FY2012 forecast15(5) Treasury Stock, Dividends, Net Profit
Yen millions

6,000
Purchase of treasury stock

5,000

Total dividends+4,200Consolidated net profit

4,000+3,333

3,000
2,000764+1,440599602787775768

FY2008FY2009FY2010FY2011FY2012 forecast

1,000,000－700,000

3,500,000+1,2341,000702
0-255-1,000Sharesretired16

These materials contain forward-looking statements, andthe descriptions herein are not guarantees of futureperformance. Risks, uncertainties and/or changes in theeconomic environment may affect future performance, and
it is possible that the targets described herein will not bemet. These materials are for informational purposes only,
and are not intended to solicit transactions.

17