November 8, 2012

Summary of Consolidated Financial Results for the Second Quarter of the Year Ending March 31, 2013
SRA Holdings, Inc.
(URL: http://www.sra-hd.co.jp/)
Stock listing:Tokyo Stock Exchange
Code number:
3817
President:
Toru Kashima
For inquiries, please contact:
Makoto Kitai, General Manager, Finance Department, Administrative HeadquartersTel:(03)-5979-2666
Scheduled date of submission of quarterly securities report:
November 9, 2012―
Scheduled commencement of dividend payment:
Quarterly Results Supplemental Materials
Yes
Quarterly Results Presentation Meeting
Yes
Company name:

1. Consolidated results for the second quarter of the fiscal year ending March 2013
(from April 1, 2012 to September 30, 2012)(1) Consolidated Operating Results (cumulative total)
Net Sales

Second quarter of fiscal
2013
Second quarter of fiscal
2012(All amounts rounded down, % change YoY)
Ordinary Profit

Operating Income

Net Income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

15,165

(4.6)

899

10.6

957

8.0

511

(15.8)

15,895

(2.5)

813

1.7

886

3.7

607

53.2

Note：Comprehensive Income
Second quarter of fiscal 2013: ¥307 million((39.3)%)
Second quarter of fiscal 2012: ¥506 million(312.0%)

Second quarter of fiscal
2013
Second quarter of fiscal
2012

Net Income

Net Income

per Shareper Share after Dilution

Yen

Yen

38.91

38.90

43.90

－

(2) Consolidated Financial Position

Second quarter of fiscal
2013
Fiscal 2012

Shareholders’ Equity Ratio

Total Assets

Net Assets

Millions of yen

Millions of yen%

27,031

15,46757.1

27,47815,67857.0

Reference: Shareholders’ equity
Second quarter of fiscal 2013: ¥15,431 million
Fiscal 2012: ¥15,649 million

2. Dividends
Dividend per Share

Fiscal 2012
Fiscal 2013

End of First QuarterEnd of Second QuarterEnd of Third Quarter

Yen

Yen

Yen

Yen

Yen

―
―

―
―

―

40.00

40.00

40.00

40.00

Fiscal 2013 (forecast)
Note: Revision of dividend forecast in this quarter:No
1Year-end

For the Year

3. Consolidated Earnings Forecast for Fiscal 2013 (from April 1, 2012 to March 31, 2013)(% of change from FY2012）
Net Income
Net Sales

Operating Income

Ordinary Profit

Net Income
per Share

FY2013

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

34,900

4.4

2,600

4.4

2,700

1.7

1,660

34.6

126.35

Note: Revision of consolidated results forecast in this quarter:No

4. Others(1) Changes to significant subsidiaries during the current period :No

Note: Changes in specified subsidiaries during the current period that caused changes in the scope of consolidation(2) Application of simplified accounting and application of special accounting :No

Note: Application of simplified and special accounting for quarterly consolidated financial statements(3) Changes in accounting principles, changes in accounting estimates, and restatements
1. Changes caused by revision of accounting standards, etc. :Yes
2. Changes other than 1. above:No
3. Changes in accounting estimates:
Yes
4. Restatements:
No
Notes: Corresponds to “a case having difficulty in distinguishing changes in accounting principles from changes in accounting
estimates ”.
The details are referred to page 4 of the attached documents “2.Summary information(Note)(3)Changes in accounting principles,changes in accounting estimates, and restatements”.

(4) Number of shares outstanding (common stock)
1. Number of shares outstanding (including treasury stock)
Second quarter of fiscal 2013:15,240,000 sharesFiscal 2012:15,240,000 shares
2. Number of treasury stock
Second quarter of fiscal 2013:
2,101,684 sharesFiscal 2012:
2,101,630 shares
3. Average number of shares over period (consolidated total for quarter)
Second quarter of fiscal 2013:13,138,343 shares
Second quarter of fiscal 2012:
13,839,770 shares*Indication of quarterly review procedure implementation status
This earnings release is not subject to the quarterly review process as required by the Financial Instruments and Exchange Act of Japan.
As of the date when this earning release was issued, the review process on quarterly financial statements as required by the Financial
Instruments and Exchange Act had been finished.

*Explanation relating to the appropriate use of results forecasts, and other noteworthy items
Forward-looking statements in this earnings release, such as forecasts of results of operations, are based on the information currently
available and the certain assumptions that we regard as reasonable and therefore actual results may differ materially from those containedin or suggested by any forward-looking statements.

2

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

1. Qualitative Information Concerning Second-Quarter Consolidated Business Results(1) Qualitative Information Concerning Consolidated Business Results
During the second quarter of the fiscal year (April 1, 2012 to September 30, 2012), the Japanese economy showed amoderate recovery, reflecting such factors as demand for reconstruction following the Great East Japan Earthquake.
Nevertheless, during the latter half of the period the recovery stagnated as personal consumption generally remained
flat and production and exports weakened owing to the impact of a slowdown in the world economy.
In the information services industry, despite an ongoing recovery in IT investments by customers, theenvironment for securing orders remained severe due to intensifying competition.
Amid this business environment, in the second year of its Medium-Term Management Plan, the SRA
Holdings Group continued to make group-wide efforts to “increase and strengthen profitability by undertaking
structural reforms in existing businesses” as well as implemented our medium- and long-term growth strategy of“securing growth potential by fully promoting our own IP products business* and undertaking new businessoverseas.”*Own IP products business: Business for our extremely high-profit own-brand products covered by intellectual property rights■Increase and strengthen profitability by undertaking structural reforms in existing businesses
1. Expand orders and sales by strengthening business capabilities
As a result of efforts to further strengthen project management from creating projects to securing orders, Software
Research Associates, Inc. (SRA), a core business, and Software Science Inc. achieved year-on-year increases in sales.
Despite a decline in sales as opposed to large-scale orders received in the same period of the previous year, Advanced
Integration Technology, Inc. (AIT) posted a year-on-year increase in inquiries for business for the third quarter andcontinued to post robust orders. SRA (Europe) B.V. recorded lower sales due to the effects of restructuring at
principal customers.
Utilizing the technological superiority of its open source software, the SRA Group has fully launchedmigration services* for language migration to JAVA to enhance the scalability of customers’ existing systems and for
migration to low-cost databases. In cloud computing as well, AIT is actively undertaking business activities. This
includes utilizing cloud networks to build the Disaster Bulletin Board System that utilizes IBM Japan’s IBM
SmarterCloud Enterprise.
*Migration services
This refers to work for the conversion of data and programs along with system migration. Migrating an application to a different
operating system (OS) requires program migration and data migration and data conversion. These also represent one migration service.

2. Build a high-profit production structure
The gross profit margin rose from the same period of the previous fiscal year in both the Systems Development
business and the System Operations and Infrastructure Development business. This was the result of the continued
strengthening of the management of staff allocation and efforts to achieve an appropriate level of production
overhead costs.
3

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

3. Transform to a cost structure appropriate for our business scale
We continued making efforts to realize appropriate production costs and selling, general and administrative (SG&A)
expenses.
■Secure growth potential by fully promoting our own IP products business and undertaking new businessoverseas (“own IP products business” x “overseas business”)
The SRA Holdings Group is implementing our “own IP products business” x “overseas business” for leveraging ourown IP products business in the United States in cloud computing, wireless data communications and other growthfields, and developing this business in China and other growth markets. During the second quarter, we achieved
progress in these efforts as detailed below.
1. Initiatives in Cloud Computing
In line with plans for taking over all assets, including intellectual property rights, of nSolutions, Inc., a leading
company in data center automation services, SRA established a new company, Cavirin Systems, Inc., in September in
the United States. In the future as well, SRA will strive to strengthen its sales structure centered on nSolutions’
NOVATM (Network Ontology and Virtualization Appliance) and vNOVATM for cloud computing and carry out its own
IP products business targeting the United States as well as China, India, ASEAN and other growth markets.
2. Initiatives in Wireless Data Communications
In January 2012, SRA invested in Shenzhen Kingnet Technology Co., Ltd. (KINGNET), which has powerful sales
channels in China and manufactures and sells wireless devices. Through this investment, SRA has secured sales
channels in China and is utilizing these channels to sell products of Proxim Wireless Corporation*, with which the
SRA Group has business and capital alliances. Presently, we are also engaging in business talks for these productswith a major Chinese communications equipment company.
3. Initiatives in China Business
In April, we acquired an additional 50,000 shares of SJI, Inc. with the aim of strengthening our business and capitalalliances with that company. Additionally, SRA provided SJI with loans (¥2.5 billion) for a portion of the funds
needed for acquiring shares of SinoCom Software Group Ltd., which has been working to expand offshoredevelopment business for Japanese companies in China.
*Proxim Wireless Corporation: U.S.-based wireless device manufacturer that produces and sells cutting-edge products in wireless data
communications. The company’s products have been widely introduced in countries throughout the world.

Regarding our consolidated business results for the second quarter of the fiscal year, due to the above
initiatives, in terms of net sales, the Systems Development business achieved a slight increase in sales, while sales in
the System Operations and Infrastructure Development business were virtually flat and sales in the Product Sales
business declined. As a result, consolidated net sales amounted to ¥15,165 million, a 4.6% decrease from the same
period of the previous fiscal year.
At the profit level, despite a decline in net sales, a rise in the gross profit margin led to an increase in grossprofit as well as a 10.6% year-on-year rise in operating income to ¥899 million and an 8.0% increase in ordinary
profit to ¥957 million. Although we recorded extraordinary income that included gain on sale of investment securities,
4

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

extraordinary income fell sharply because this amount was exceeded by insurance benefits received in the same
period of the previous fiscal year. As a result, net income for the second quarter declined 15.8% from the same periodof the previous fiscal year to ¥511 million.
As detailed above in the section on consolidated results for the second quarter, although net sales declined
from the same period of the previous fiscal year, operating income and ordinary profit increased. Moreover, we
maintained operating income and ordinary profit at levels in line with our second quarter forecast of consolidated
results.
A summary of consolidated business results for the second quarter by business segment is shown below.
1) Systems Development
The Systems Development business recorded increases in sales to universities and the real estate industry. As a result,net sales increased 3.7% from the same period of the previous fiscal year to ¥7,881 million.
2) System Operations and Infrastructure Development
Despite a decline in orders from companies, there was an increase in university-related orders. As a result, net sales of
the System Operations and Infrastructure Development business increased 0.4% from the same period of the previous
fiscal year to ¥1,671 million.
3) Product Sales
Although sales by SRA were virtually level, AIT did not record orders comparable to the large orders in distributionsectors received in the same period of the previous fiscal year. As a result, net sales of the Product Sales businessdeclined 15.3% from the same period of the previous fiscal year to ¥5,612 million.
(2) Qualitative Information Concerning Consolidated Financial Condition
Financial Position
Total assets at the end of the second quarter decreased 1.6% from the end of the previous fiscal year to ¥27,031
million, total liabilities declined 2.0% to ¥11,564 million and total net assets declined 1.3% to ¥15,467 million.
Details of increases and decreases from the end of the previous fiscal year are as follows.
Total Assets
Work in process for consigned system development rose ¥498 million to ¥1,481 million. Short-term loans rose ¥2,723
million to ¥2,863 million due to such factors as loans to SJI for the purpose of strengthening business and capitalalliances. On the other hand, notes and accounts receivable—trade declined ¥1,094 million to ¥5,350 million due tothe collection of receivables. Short-term investment securities decreased ¥723 million to ¥805 million due to the saleof commercial paper. Total intangible assets decreased ¥93 million to ¥1,011 million due to depreciation.
Total Liabilities
Provision for loss on construction contracts for consigned system development increased ¥70 million to ¥237 million.
On the other hand, income taxes payable decreased ¥224 million to ¥344 million due to the payment of income taxes.
Total Net Assets
Valuation difference on available-for-sale securities decreased ¥170 million to ¥120 million because short-term
5

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

investment securities and investment securities were marked to market.
Status of Cash Flows
Cash and cash equivalents (hereafter cash) on a consolidated basis during the second quarter of the fiscal year
decreased ¥2,574 million to ¥6,922 million compared with at the previous fiscal year-end (a decrease of ¥379 million
from the same quarter of the previous fiscal year).
The status of cash flows and factors underlying changes in cash flows for the second quarter of the fiscal
year are shown below.
Cash Flows from Operating Activities
Net cash provided by operating activities amounted to ¥1,053 million, an increase of 45.3% from the same quarter ofthe previous fiscal year. This consisted mainly of such cash inflows as a decrease in notes and accounts
receivable—trade of ¥1,089 million and income before income taxes and minority interests of ¥969 million, while
cash outflows consisted primarily of income taxes paid of ¥697 million and an increase in inventories of ¥499
million.
Cash Flows from Investing Activities
Net cash used in investing activities amounted to ¥3,094 million, an increase of 63.3% from the same quarter of theprevious fiscal year. This consisted mainly of such outflows as ¥3,323 million for payments of loans receivable and¥664 million for purchase of investment securities as well as such inflows as ¥520 million in proceeds from sales ofinvestment securities and ¥503 million for collection of loans receivable.
Cash Flows from Financing Activities
Net cash used in financing activities amounted to ¥525 million, a decrease of 37.8% from the same quarter of theprevious fiscal year. This was due mainly to ¥525 million in cash dividends paid.
(3) Qualitative Information Concerning Consolidated Results Forecast
No revision has been made to forecasts in the Summary of Consolidated Financial Results for the Year Ended March
31, 2012 released on May 10, 2012.

2. Summary Information (Notes)(1) Significant changes involving subsidiaries during the period: None
(2) Application of simplified accounting methods and accounting methods specific to the preparation of the quarterly
consolidated financial statements: None
(3) Changes in accounting principles, changes in accounting estimates and restatements(Change in accounting policy that is difficult to distinguish from change in accounting estimate)
Along with the revision of the Corporation Tax Act of Japan, from the first quarter of the fiscal year the Company
and its domestic consolidated subsidiaries have changed their method of depreciation based on the revised
Corporation Tax Act for tangible fixed assets acquired on or after April 1, 2012.
The impact of this change on operating income, ordinary profit and net income before income taxes in the
6

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013second quarter was immaterial.

3. Important Matters Regarding Assumptions of a Going Concern
None

7

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

4. Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of Yen)
End of second quarter of

Fiscal 2012fiscal 2013(as of March 31, 2012)(as of September 30, 2012)ASSETS
Current assets:
Cash and deposits

8,697

6,622

Notes and accounts receivable—trade

6,444

5,350

Short-term investment securities

1,529

805

Merchandise and finished goods

349

349

Work in process

982

1,481

Deferred tax assets

498

524

Short-term loans

139

2,863

Other

664

731

Allowance for doubtful accounts

(28)

(39)

19,277

18,690

331

329

(215)

(225)

115

104

568

573

(517)

(510)

50

62

Land

0

–

Other

100

101

Accumulated depreciation

(69)

(70)

Other, net

31

30

197

197

Other

1,104

1,011

Total intangible assets

1,104

1,011

Investment securities

4,082

4,293

Deferred tax assets

1,289

1,260

Guarantee deposits

413

405

Other

1,205

1,265

Allowance for doubtful accounts

(14)

(14)

Total current assets
Noncurrent assets:
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net

Total property, plant and equipment
Intangible assets

Investments and other assets

8

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

Allowance for investment loss

(78)

(79)

Total investments and other assets

6,897

7,132

8,200

8,341

27,47827,031

Total noncurrent assets
Total assets

9SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

(Millions of Yen)
End of second quarter of

Fiscal 2012fiscal 2013(as of March 31, 2012)(as of September 30, 2012)

LIABILITIESCurrent liabilities:
Accounts payable—trade

2,804

2,733

Short-term loans payable

1,609

1,609

Accrued expenses

661

686

Income taxes payable

568

344

Accrued consumption taxes

290

162

Provision for bonuses

616

622

Provision for directors’ bonuses

58

33

Provision for loss on construction contracts

167

237

Provision for loss on liquidation of subsidiaries
and affiliates
Other

41

41

865

977

7,682

7,448

Long-term loans payable

300

300

Deferred tax liabilities

1

3

3,659

3,658

154

152

1

1

4,116

4,115

11,79911,564

Capital stock

1,000

1,000

Capital surplus

4,483

4,483

Retained earnings

11,642

11,628Treasury stock(1,393)(1,393)

Total shareholders’ equity

15,732

15,718Valuation difference on available-for-sale securities

290

120

Foreign currency translation adjustments

(373)

(407)

Total accumulated other comprehensive income

(83)

(287)

29

36

Total net assets

15,67815,467

Total liabilities and net assets

27,47827,031

Total current liabilities
Noncurrent liabilities:

Provision for retirement benefits
Provision for directors’ retirement benefits
OthersTotal noncurrent liabilities
Total liabilities
NET ASSETS
Shareholders’ equity

Accumulated other comprehensive income

Subscription rights to shares

10

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(Millions of Yen)
Consolidated

Consolidated

cumulative total for

cumulative total forsecond quarter of

second quarter offiscal 2012 (from April

fiscal 2013 (from April

1, 2011 to September

1, 2012 to September

30, 2011)

30, 2012)

Net sales

15,895

15,165

Cost of sales

13,27912,488Gross profit

2,615

2,677

Selling, general and administrative expenses

1,802

1,777

813

899

Interest received

51

87

Dividends received

25

25

Other

40

32

Total non-operating income

118

144

Interest expenses

15

14

Foreign exchange losses

17

39

Other

11

32

Total non-operating expenses

44

86

886

957

–

11

Other

170

0

Total extraordinary income

170

12

Loss on retirement of noncurrent assets

10Loss on sales of investment securities

–

0

Other

63

0

Total extraordinary loss

650Operating income
Non-operating income

Non-operating expenses

Ordinary profit
Extraordinary income
Gain on sales of investment securities

Extraordinary loss

11

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

Income before income taxes and minority interests

992

969

Income taxes-current

345

474

Income taxes-deferred

39

(16)

Total income taxes

384

458

Income before minority interests

607

511

Net income

607

511

Income before minority interests

607

511

Other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustments

(61)

(170)

(39)

(33)

(100)

(203)

506

307

506

307

－

－

(Quarterly Consolidated Statements of Comprehensive Income)

Total other comprehensive income
Comprehensive income(breakdown)Comprehensive income attributable to parent
company shareholders
Comprehensive income attributable to minority
shareholders

12

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

(3) Consolidated Statements of Cash Flows(Millions of Yen)

Consolidated

Consolidated

cumulative total for

cumulative total forsecond quarter of

second quarter offiscal 2012 (from April

fiscal 2013 (from April

1, 2011 to September

1, 2012 to September

30, 2011)

30, 2012)

Net cash provided by (used in) operating activities:
Income before income taxes and minority interests

992

969

Depreciation and amortization

135

212

8

(2)

(303)

(1)

Increase (decrease) in provision for bonuses

69

6

Increase (decrease) in provision for directors’ bonuses

29

(24)

Increase (decrease) in allowance for doubtful accounts

10

10

Increase (decrease) in allowance for investment loss

10－

Interest and dividend income

(77)

(112)

Interest expense

15

14

Loss (gain) on valuation of investment securities

10

Loss (gain) on sales of investment securities

－

(11)

Loss (gain) on sales of noncurrent assets－(0)Loss on retirement of noncurrent assets

10

Decrease (increase) in notes and accounts receivable—trade

1,031

1,089

Decrease (increase) in inventories

(663)

(499)

Increase (decrease) in notes and accounts payable—trade

(97)

(63)

Increase (decrease) in other liabilities

384

155

Increase (decrease) in accrued consumption taxes

(152)

(128)

Other, net

(148)

65

Subtotal

1,247

1,679

Interest and dividends income received

77

85

Interest expenses paid

(15)

(14)

Income taxes paid

(585)

(697)

724

1,053

(24)

(31)

0

2

(615)

(106)

(2,183)

(664)

901

520

Payments of loans receivable(506)(3,323)

Collection of loans receivable

352

503

Increase (decrease) in provision for retirement benefits
Increase (decrease) in provision for directors’ retirement benefits

Net cash provided by operating activities
Net cash provided by (used in) investing activities:
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sales of investment securities

13

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

Payments into time deposits

(70)

–

Other, net

251

6(1,894)(3,094)

(292)

－

300

－

(300)

－

－

(0)

(553)

(525)

(0)

(0)

(845)

(525)

8

(6)

Net increase (decrease) in cash and cash equivalents(2,008)(2,574)

Cash and cash equivalents at beginning of period

9,309

9,496

Cash and cash equivalents at the end of period

7,301

6,922

Net cash used in investing activities
Net cash provided by (used in) financing activities:
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Redemption of bonds
Purchase of treasury stock
Cash dividends paid
Other
Net cash used in financing activities
Effect of exchange rate changes on cash and cash equivalents

14

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

(4) Notes Concerning Premise of Going Concern
None(5) Notes on Significant Changes in Shareholders’ Equity
None(6) Segment Information
I. Consolidated cumulative total for second quarter of fiscal 2012 (from April 1, 2011 to September 30, 2011)
1. Information Concerning Net Sales and Income or Losses for each Reporting Segment(Millions of yen)AmountSystemOperations

Systems
Development

andInfrastructurerecorded on
Product

Adjustment

Total

Sales

*1

amountthe quarterly
consolidated
statements ofDevelopment

income*2

Sales
Sales toCustomers

7,601

1,664

6,629

15,895－

15,895Intersegment
sales ortransfers

18

140

200

359

(359)

－

7,620

1,805

6,829

16,254(359)

15,895

904

272

285

1,462

(649)

813

Total sales
Operating income

Notes:
1. The segment income adjustment of minus ¥649 million is a company-wide expense not apportioned to any reporting segment.
Company-wide expenses are general and administrative expenses and R&D expenses not attributed to any reporting segment.
2. Segment operating income is adjusted in operating income on the quarterly consolidated statements of income.
3. From the first quarter of fiscal 2011 (from April 1, 2010 to June 30, 2010), the Company changed the measurement method for eachbusiness segment along with a change to its standards for evaluating segment business results in undertaking its business management.
Compared with when applying the previous method, segment income declined by ¥107 million in Systems Development, ¥26 million
in System Operations and Infrastructure Development and ¥110 million in Product Sales.

2. Information concerning impairment loss on fixed assets or goodwill for each reporting segment
None
II. Consolidated cumulative total for second quarter of fiscal 2013 (from April 1, 2012 to September 30, 2012)
1. Information Concerning Net Sales and Income or Losses for each Reporting Segment(Millions of yen)AmountSystemSystems
Development

Operations
andInfrastructure

Product
Sales

Total

Adjustment
amount*1

recorded on
the quarterly
consolidated
statements ofDevelopment
15

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013*2

incomeSales(1) Sales to
Customers(2) Intersegment
sales ortransfers
Total sales
Operating income

7,881

1,671

5,612

15,165－

15,165

20

169

256

447

(447)

－

7,902

1,841

5,869

15,612(447)

15,165

910

306

294

1,511

(612)

899

Notes:
1. The segment income adjustment of minus ¥612 million is a company-wide expense not apportioned to any reporting segment.
Company-wide expenses are general and administrative expenses and R&D expenses not attributed to any reporting segment.
2. Segment operating income is adjusted in operating income on the quarterly consolidated statements of income.

2. Matters Concerning Change in Reportable Segments
As stated in “Change in accounting policy that is difficult to distinguish from change in accounting estimate,”
along with the revision of the Corporation Tax Act of Japan, from the first quarter of the fiscal year theCompany and its domestic consolidated subsidiaries have changed their method of depreciation based on therevised Corporation Tax Act for tangible fixed assets acquired on or after April 1, 2012. Accordingly, their
method of depreciation for reportable segments has been changed to a method based on the revised Corporation
Tax Law.
The impact of this change on profit in each segment in the second quarter was immaterial.
3. Information concerning impairment loss on fixed assets or goodwill for each reporting segment
None(7) Significant subsequent events
None

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SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

5. Other Information
1. Status of Production, Purchases, Orders and Sales(1) Production amounts
Production by segment in the second quarter of the fiscal year ending March 31, 2013 is as follows.
Consolidated cumulative total for
Segment information by type of businesssecond quarter of fiscal 2013
(from April 1, 2012 to September% change YoY

30, 2012)
Systems Development (Millions of Yen)
System Operations and Infrastructure
Development (Millions of Yen)
Total (Millions of Yen)

8,481

105.6

1,697

101.6

10,179104.9

Notes:
1. Amounts are based on sales price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

(2) Purchase amounts
Purchases by segment in the second quarter of the fiscal year ending March 31, 2013 are as follows.
Consolidated cumulative total for
Segment information by type of businesssecond quarter of fiscal 2013
(from April 1, 2012 to September% change YoY

30, 2012)
Product Sales (Millions of Yen)

3,568

74.0

Total (Millions of Yen)

3,568

74.0

Notes:
1. Amounts are based on purchase price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

(3) Status of orders
Status of orders by segment in the second quarter of the fiscal year ending March 31, 2013 is as follows.
OrdersSegment information by type of business

Order backlog

received% change YoY(Millions of% change YoY

Yen)

Yen)
Systems Development(Millions of

8,182

17

96.8

4,164

95.4

SRA Holdings, Inc. (3817) Summary of Second-Quarter Consolidated Financial Results for the Year Ending March 31, 2013

System Operations and Infrastructure

1,393

107.6

1,124

106.2

Product Sales

5,249

73.5

3,186

90.6

Total

14,825

87.8

8,474

94.8

Development

Notes:
1. Amounts are based on sales price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

(4) Sales amounts
Sales by segment in the second quarter of the fiscal year ending March 31, 2013 are as follows.
Consolidated cumulative total for
Segment information by type of businesssecond quarter of fiscal 2013
(from April 1, 2012 to September% change YoY

30, 2012)
Systems Development (Millions of Yen)

7,881

103.7

1,671

100.4

Product Sales (Millions of Yen)

5,612

84.7

Total (Millions of Yen)

15,165

95.4

System Operations and Infrastructure
Development (Millions of Yen)

Notes:
1. Amounts are based on sales price.
2. The amounts above do not include consumption tax.
3. Intersegment transactions are offset.

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