August 7, 2014

Summary of Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2015
Company name:

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:
August 8, 2014―
Scheduled commencement of dividend payment:
Quarterly Results Supplemental Materials
Yes
Quarterly Results Presentation MeetingNo

1. Consolidated results for the first quarter of the fiscal year ending March 2015 (from April 1, 2014 to June30, 2014)(1) Consolidated Operating Results (cumulative total)
Net SalesFirst quarter of fiscal
2015
First quarter of fiscal
2014(All amounts rounded down, % change YoY)
Ordinary Profit

Operating Income%

Millions of yen%

Millions of yen%

Millions of yen

7,909

3.7

436

77.1

497

14.3

(554)

7,628

4.8

246

(26.4)

434

15.3

(572)

Note：Comprehensive Income
First quarter of fiscal 2015 (¥176) million(-%)
First quarter of fiscal 2014 (¥6) million(-%)

First quarter of fiscal
2015
First quarter of fiscal
2014

Net Income

Net Income

per Shareper Share after Dilution

Yen

Yen

(46.32)－(43.60)－(2) Consolidated Financial Position

First quarter of fiscal
2015
Fiscal 2014

Net Income

Millions of yen

Shareholders’ Equity Ratio

Total Assets

Net Assets

Millions of yen

Millions of yen%

28,95816,48656.9

29,527

17,083

57.7

Reference: Shareholders’ equity
First quarter of fiscal 2015: ¥16,484 million
Fiscal 2014: ¥17,051 million

1

%

-

2. Dividends
Dividend per Share

Fiscal 2014
Fiscal 2015

End of First QuarterEnd of Second QuarterEnd of Third Quarter

Year-end

Yen

Yen

Yen

Yen

Yen

―
―

0.00

―

40.00

40.00

17.00

―

28.00

45.00

Fiscal 2015(forecast)
Note: Revision of dividend forecast in this quarter:

For the YearNo

3. Consolidated Earnings Forecast for Fiscal 2015 (from April 1, 2014 to March 31, 2015)(% of change from FY2014 First Half or FY2014）
Net Income
Net Sales

Operating Income

Ordinary Profit

Net Income
per Share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

FY2015 First Half
(for the six months ending
September 30, 2014)

17,000

4.2

1,130

17.0

1,230

3.0

790

18.8

66.04

FY201537,300

6.1

3,260

16.1

3,460

4.1

2,230

4.5

186.40Note: Revision of consolidated results forecast in this quarter:No

4. Others(1) Changes to significant subsidiaries during the current period :No(2) Application of simplified accounting and application of special accounting :(3) Changes in accounting principles and procedures, presentation, etc.
1. Changes caused by revision of accounting standards, etc. :2. Changes other than 1. above:
No

No

Yes

(4) Number of shares outstanding (common stock)
1. Number of shares outstanding (including treasury stock)
First quarter of fiscal 2015:15,240,000 sharesFiscal 2014:15,240,000 shares
2. Number of treasury stock
First quarter of fiscal 2015:
3,210,445 sharesFiscal 2014:
3,297,610 shares
3. Average number of shares over period (consolidated total for quarter)
First quarter of fiscal 2015:
11,963,315 sharesFirst quarter of fiscal 2014:
13,138,291 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 First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

1. Qualitative Information Concerning First-Quarter Consolidated Business Results(1) Explanation Concerning Business Results
During the first quarter of the fiscal year (April 1, 2014 to June 30, 2014), despite weakness in personal consumption
in reaction to a last-minute surge in demand prior to the consumption tax increase, the Japanese economy continued amoderate recovery on the back of increased capital investment and improved corporate earnings.
In the information services industry, despite an ongoing recovery in IT investments, the environment for securing
orders remained severe due to intensifying competition.
Within this business environment, the SRA Holdings Group set the goal of surpassing its all-time high inconsolidated net income during the final fiscal year of its Medium-Term Management Plan. In doing so, the Group
implemented the following specific measures as part of efforts to “undertake structural reforms in existing
businesses” as well as our “own IP products business” x “overseas business,” which is our medium- and long-term
growth strategy.
■Undertake structural reforms in existing businesses
As measures to expand orders and sales by strengthening business capabilities, we created new projects throughproposal-based sales that utilize our strong points and fortified our order management structure. As a result of these
efforts, Software Research Associates, Inc. (SRA) recorded an increase in sales over the same period of the previous
fiscal year. Meanwhile, to build a high-profit production structure we continued working to strengthen our staff
allocation management and realize an appropriate level of production overhead costs.
■“Own IP products business” x “overseas business”
We made additional business investments in Cavirin Systems, Inc. with the aim of further implementing our mediumand long-term growth strategy of promoting our own IP products business in China, India, ASEAN and other growthmarkets.
In our own IP products business in Japan, we focused on expanding sales of such products as our comprehensive
education solutions UniVision, our mail archive MailDepot, our digital content service BELEGA-DC and our EC
building service BELEGA-EC.
In the healthcare field, where markets are expected to grow, we promoted business for the HEALTHPLAYER
application for smartphones in collaboration with Practechs, Inc. as an initiative for developing a new businessmodel.

Due to the above initiatives, our consolidated business results for the first quarter of the fiscal year were as follows.
In terms of net sales, although sales in the Product Sales business were flat, the Systems Development businessposted higher sales while the System Operations and Infrastructure Development business recorded a sharp increasein sales. As a result, consolidated net sales amounted to ¥7,909 million, a 3.7% increase from the same period of theprevious fiscal year.
At the profit level, operating income surged 77.1% from the same period of the previous fiscal year to ¥436
million due to growth in sales and an improvement in the gross profit margin, and ordinary profit rose 14.3% fromthe same period of the previous fiscal year to ¥497 million.
A loss on valuation of investment securities for shares in SJI Inc. held by the SRA Group was posted as an
extraordinary loss. As a result, a net loss of ¥554 million was recorded.
3

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

The Company applied the reversal method (araigae method, which allows for upward revisions at the beginningof the next fiscal period). Therefore, depending on the market value of securities during or at the end of this fiscal
year, there is the possibility that the amount of this extraordinary loss will change or that no extraordinary loss will berecorded on the valuation of securities.
A summary of consolidated business results for the first quarter by business segment is shown below.
1) Systems Development
The Systems Development business recorded increases in sales to banks and securities companies. As a result, net
sales edged up 5.1% from the same period of the previous fiscal year to ¥3,921 million.
2) System Operations and Infrastructure Development
Although university-related orders were flat, there was an increase in orders from companies. As a result, net sales of
the System Operations and Infrastructure Development business increased 12.2% from the same period of theprevious fiscal year to ¥933 million.
3) Product Sales
Advanced Integration Technology, Inc. (AIT) posted a slight decline in sales, but SRA recorded an increase inpackage sales. As a result, net sales of the Product Sales business were virtually level, decreasing 0.3% from the same
period of the previous fiscal year to ¥3,055 million.
(2) Explanation Concerning Financial Condition
Total assets at the end of the fiscal year amounted to ¥28,958 million, a decrease of 1.9% from the end of the previous
fiscal year. Total liabilities increased 0.2% from the end of the previous fiscal year to ¥12,471 million and net assets
decreased 3.5% to ¥16,486 million from the end of the previous fiscal year. Details of the principal increases anddecreases from the end of the previous fiscal year are as follows.
(Total Assets)
Cash and deposits increased ¥1,551 million to ¥9,240 million due to the collection of trade receivables. Work inprocess increased ¥535 million to ¥1,966 million due to such factors as a rise in contracted development projects. On
the other hand, notes and accounts receivable—trade decreased ¥2,215 million to ¥4,640 million due to the collectionof trade receivables.
(Total Liabilities)
Provision for bonuses increased ¥349 million to ¥899 million. Income taxes payable decreased ¥629 million to ¥252
million owing to the payment of corporate income taxes.
(Total Net Assets)
Valuation difference on available-for-sale securities increased ¥431 million to ¥669 million due to changes in themarket prices of marketable and investment securities. On the other hand, retained earnings decreased ¥1,031 million
to ¥13,300 million.

4

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015(3) Explanation Concerning Consolidated Results Forecast and Other Future Projections
No revision has been made to forecasts in Summary of Consolidated Financial Results for the Year Ended March 31,
2014 released on May 8, 2014.

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 Policies)
Effective from the first quarter of the fiscal year ending March 31, 2015, the Company adopted the AccountingStandard for Retirement Benefits (ASBJ Statement No. 26, May 17, 2012, hereafter, “Standard”) and Guidanceon Accounting Standard for Retirement Benefits (ASBJ Guidance No. 25, May 17, 2012, hereafter, “Guidance”),
as set out in the main clause of paragraph 35 of the Standard and the main clause of paragraph 67 of the Guidance.
Accordingly, the methods for calculating retirement benefit obligations and service costs have been revised. The
method of attributing expected benefit payments to periods has been changed from a point basis to the benefit
formula basis and the method of determining the discount rate has been changed from a discount rate based on
the approximate number of years of the average remaining service period of employees for the liability periodthat serves as the basis for determining the discount rate to a single weighted average discount rate reflecting the
expected timing and amount of benefit payment in each period.
The adoption of the Standard and the Guidance conforms with the transitional treatment stipulated byparagraph 37 of the Standard.
The impact of this change on net defined benefit liability and retained earnings at the beginning of the firstquarter as well as on operating income, ordinary profit and income before income taxes and minority interests inthe first quarter of the fiscal year was immaterial.

5

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

3. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of Yen)FY2014(as of March 31, 2014)

End of first quarter of FY2015(as of June 30, 2014)ASSETS
Current assets:
Cash and deposits

7,689

9,240

Notes and accounts receivable—trade

6,855

4,640

Short-term investment securities

3,112

3,112

Merchandise and finished goods

300

642

Work in process

1,430

1,966

Deferred tax assets

546

676

Other

2,208

1,978

Allowance for doubtful accounts

(27)

(20)

22,117

22,237

Buildings

346

350

Accumulated depreciation

(249)

(254)

Buildings, net

97

95

Machinery, equipment and vehicles

575

574

Accumulated depreciation

(517)

(516)

Machinery, equipment and vehicles, net

58

57

Other

114

115

Accumulated depreciation

(75)

(76)

Other, net

39

38

Total property, plant and equipment

195

192

Other

672

643

Total intangible assets

672

643

Investment securities

3,618

3,388

Deferred tax assets

1,421

1,182

Guarantee deposits

370

378

Net defined benefit asset

42

43

Other

1,206

1,008

Allowance for doubtful accounts

(13)

(13)

Allowance for investment loss

(104)

(102)

Total investments and other assets

6,542

5,885

7,410

6,720

29,52728,958

Total current assets
Noncurrent assets:
Property, plant and equipment

Intangible assets

Investments and other assets

Total noncurrent assets
Total assets
6

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

(Millions of Yen)FY2014(as of March 31, 2014)

End of first quarter of FY2015(as of June 30, 2014)

LIABILITIESCurrent liabilities:
Accounts payable—trade

3,211

3,127

Short-term loans payable

1,509

1,539

Accrued expenses

583

662

Income taxes payable

882

252

Accrued consumption taxes

255

192

Provision for bonuses

550

899

Provision for directors’ bonuses

50

3Provision for loss on construction contracts

416

463

Asset retirement obligations

18

14

Other

851

1,187

8,329

8,342

9

9

3,926

3,973

Provision for directors’ retirement benefits

161

125

Other

17

20

4,114

4,128

12,443

12,471

Capital stock

1,000

1,000

Capital surplus

4,475

4,469

Retained earnings

14,332

13,300Treasury stock(2,826)(2,732)

Total shareholders’ equity

16,982

16,037

Valuation difference on available-for-sale securities

238

669

Foreign currency translation adjustments

229

172

Remeasurements of defined benefit plans

(399)

(395)

68

446

32

2

Total net assets

17,083

16,486

Total liabilities and net assets

29,52728,958

Total current liabilities
Noncurrent liabilities:
Deferred tax liabilities

Net defined benefit liability

Total noncurrent liabilities
Total liabilities
NET ASSETS
Shareholders’ equity

Accumulated other comprehensive income

Total accumulated other comprehensive income
Subscription rights to shares

7

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(Consolidated Cumulative Total for First Quarter)(Millions of Yen)
Consolidated

Consolidated

cumulative total for

cumulative total forfirst quarter of fiscal

first quarter of fiscal

2014 (from April 1,2015 (from April 1,2013 to June 30, 2013)2014 to June 30, 2014)

Net sales

7,628

7,909

Cost of sales

6,451

6,523

Gross profit

1,177

1,386

Selling, general and administrative expenses

930

950

Operating income

246

436

Interest received

46

47

Dividends received

31

12

Foreign exchange gains

72－

Guarantee commission received

16

29

Other

33

21

Total non-operating income

199

110

Interest expenses

66Foreign exchange losses－

37

Stock transfer agency service fee

4

5

Other

0

0

Total non-operating expenses

11

50

434

497

Gain on sales of investment securities

4－

Gain on reversal of subscription rights to shares

－

21

Other

0

－

Total extraordinary income

421

Loss on retirement of noncurrent assets

00Loss on valuation of investment securities

778

886

Other

10

－

Total extraordinary loss

789

886

Non-operating income

Non-operating expenses

Ordinary profit
Extraordinary income

Extraordinary loss

8

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

(349)

(367)

Income taxes-current

411

317

Income taxes-deferred

(189)

(130)

Total income taxes

222

186

Income (loss) before minority interests

(572)

(554)

Net income (loss)

(572)

(554)

Income (loss) before minority interests

(572)

(554)

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

414

431

152

(56)

Remeasurements of defined benefit plans, net of tax－

3

Total other comprehensive income

566

377

(6)

(176)

(6)

(176)

－

－

Income (loss) before income taxes and minority
interests(Quarterly Consolidated Statements of Comprehensive Income)(Consolidated Cumulative Total for First Quarter)

Comprehensive income(breakdown)Comprehensive income attributable to parent
company shareholders
Comprehensive income attributable to minority
shareholders

9

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

(3) Notes Concerning Consolidated Financial Statements for the First Quarter(Notes Concerning Premise of Going Concern)
None(Notes on Significant Changes in Shareholders’ Equity)
None(Segment Information and others)[Segment Information]
I. Consolidated cumulative total for first quarter of fiscal 2014 (from April 1, 2013 to June 30, 2013)
1. Information Concerning Net Sales and Income or Losses for each Reporting Segment(Millions of Yen)
AmountSystemrecordedOperations

Systems
Development

Product

andInfrastructure

Adjustment

Total

Sales

amount*1

onthe quarterly
consolidated
statements ofDevelopment

income*2

Sales
 Sales to
Customers
 Intersegment
sales ortransfers
Total sales
Operating income

3,731

831

3,065

7,628

－

7,628

8

68

117

194

(194)

－

3,740

900

3,182

7,823

(194)

7,628

236

174

145

556

(309)

246

Notes:
1. The segment income adjustment of minus ¥309 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. Information concerning impairment loss on fixed assets or goodwill for each reporting segment
None

10

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

II. Consolidated cumulative total for first quarter of fiscal 2015 (from April 1, 2014 to June 30, 2014)
1. Information Concerning Net Sales and Income or Losses for each Reporting Segment(Millions of Yen)
AmountSystemrecordedOperations

Systems
Development

Product

andInfrastructure

Adjustment

Total

Sales

amount*1

onthe quarterly
consolidated
statements ofDevelopment

income*2

Sales
 Sales to
Customers
 Intersegment
sales ortransfers
Total sales
Operating income

3,921

933

3,055

7,909

－

7,909

1

78

120

199

(199)

－

3,922

1,011

3,175

8,109

(199)

7,909

286

210

243

740

(303)

436

Notes:
1. The segment income adjustment of minus ¥303 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. Information concerning impairment loss on fixed assets or goodwill for each reporting segment
None

11

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

(Significant subsequent events)
1. Granting of stock options linked to the Medium-Term Management Plan
At a meeting of the Board of Directors of SRA convened on August 7, 2014, the Board decided to grant stock options
as detailed below to directors and employees of the Company and directors, managing officers and employees of theCompany’s subsidiaries in accordance with the regulations of Article 236, 238 and 240-1 of the Corporate Law ofJapan.
1) Persons eligible and number of persons
Directors and employees of the Company and directors, managing officers and employees of the Company’s
subsidiaries (48 persons)2) Allocation dateAugust 25, 2014
3) Total number of subscription rights to shares
912 subscription rights
4) Type of shares allotted to subscription rights to shares
Common shares of the Company
5) Number of shares allotted to subscription rights to shares
182,400 shares (200 shares per one subscription right)6) Subscription price when subscription rights to shares are exercised
Value of assets to be invested when subscription rights to shares are (when one (1) subscription right to shares is)
exercised shall be the exercise price (hereafter the exercise price) per one (1) share multiplied by number of granted
shares per one (1) subscription right to shares as determined by the following.
The exercise price shall be the final average closing price of the Company’s ordinary shares traded on the Tokyo
Stock Exchange for each day (excluding non-trading days) of the month preceding the month with the day whensubscription rights to shares are allotted multiplied by 1.1 (any fractions less than ¥1 shall be rounded up). However,in the event the said price is below that of the closing price on the date of the allotment of subscription rights toshares (or the closing price of the closest preceding date if there is no trading), the exercise price shall be the closing
price.
7) Exercise period for subscription rights to shares
From July 1, 2016 to June 30, 20188) Matters concerning capital and capital reserve upon issuance of shares by exercise of subscription rights to shares[1] The amount of the increase in capital upon issuance of shares by exercise of subscription rights to shares shall be
50% of the maximum increase amount of capital, etc., as calculated according to the Company Accounting
Regulations, Article 17, Paragraph 1, with any fraction of less than ¥1 being rounded up.
[2] The amount of the increase in capital reserves upon issuance of shares by exercise of subscription rights to sharesshall be the amount after deducting the increase in capital calculated in the above (1) from the maximum increaseamount of capital, etc., listed in the above (1).
9) Conditions for exercising subscription rights to shares[1] The holders of the subscription rights to shares shall be able to exercise the rights only when ordinary profit
on the final Consolidated Statements of Income for the Company’s 25th fiscal term (the fiscal year ending
12

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

March 2015) or for any prior fiscal term exceeds ¥3.46 billion or when net income for the same period
exceeds ¥2.23 billion (hereafter “exercise standard target value”). However, in the event of such factors as
an abrupt change in the management environment, the “exercise standard target value” may be changed
within a range of ± 30% based on a resolution by the Board of Directors.
[2] Even during the period for exercising the subscription rights to shares, persons who are not directors andemployees of the Company or directors, managing officers and employees of the Company’s subsidiaries
shall not be allowed to exercise the subscription rights. However, this shall not be applied in cases in which
a person leaves their position due to the expiration of the term of Director or mandatory retirement or for
any other due reason.
[3] Inheritance of subscription rights to shares shall not be allowed[4] The Board of Directors shall be able to attach other necessary conditions. However, conditions attached by
the Board of Directors shall be effective only when stipulated by a “subscription rights to shares allocationagreement” concluded between the Company and the persons eligible for the allocation of subscription
rights to shares.

2. Extension of loan repayment period
Subsidiary SRA provided a loan to Kingnet with the aim of strengthening its relationship with that company.
However, the Board of Directors of SRA passed a resolution and extended the loan repayment period at a meeting of
the Board of Directors of SRA convened on July 17, 2014.
Loan amount: US$8,000 thousand
Loan repayment period before change: July 31, 2014
Loan repayment period after change: September 30, 2014

3. Extension of liability guarantee period
Subsidiary SRA provided a liability guarantee for short-term borrowings by SJI Inc., with which it has a businessalliance and capital alliance. However, based upon a request by that company for an extension of the guarantee period,
the Board of Directors of SRA passed a resolution and extended the liability guarantee period as detailed below at a
meeting of the Board of Directors of SRA convened on July 17, 2014.
Amount of liability guarantee: ¥1,500 million
Period of liability guarantee before change: July 31, 2014
Period of liability guarantee after change: August 29, 2014

13

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

4. Other Information
1. Status of Production, Orders and Sales
 Production amounts
Production by segment in the first quarter of the fiscal year ending March 31, 2015 is as follows.
Consolidated cumulative total for
Segment information by type of businessfirst quarter of fiscal 2015 (from% change YoY

April 1, 2014 to June 30, 2014)
Systems Development (Millions of Yen)
System Operations and Infrastructure
Development (Millions of Yen)
Total (Millions of Yen)

4,473

104.4

961

113.4

5,435

105.9

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

 Purchase amounts
Purchases by segment in the first quarter of the fiscal year ending March 31, 2015 are as follows.
Consolidated cumulative total for
Segment information by type of businessfirst quarter of fiscal 2015 (from% change YoY

April 1, 2014 to June 30, 2014)
Product Sales (Millions of Yen)

2,127

99.2

Total (Millions of Yen)

2,127

99.2

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

14

SRA Holdings, Inc. (3817) Summary of First-Quarter Consolidated Financial Results for the Year Ending March 31, 2015

 Status of orders
Status of orders by segment in the first quarter of the fiscal year ending March 31, 2015 is as follows.
OrdersSegment information by type of business

Order backlog

received% change YoY(Millions of% change YoY

Yen)

Yen)
Systems Development(Millions of

4,569

95.5

5,058

104.5

632

97.3

1,322

103.1

Product Sales

3,498

109.7

3,170

95.2

Total

8,700

100.9

9,550

101.0

System Operations and Infrastructure
Development

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

 Sales amounts
Sales by segment in the first quarter of the fiscal year ending March 31, 2015 are as follows.
Consolidated cumulative total for
Segment information by type of businessfirst quarter of fiscal 2015 (from% change YoY

April 1, 2014 to June 30, 2014)
Systems Development (Millions of Yen)

3,921

105.1

933

112.2

Product Sales (Millions of Yen)

3,055

99.7

Total (Millions of Yen)

7,909

103.7

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.

15