Financial Presentation (1st Half of the Year Ending March 2009)
November 7, 2008

FIELDS CORPORATIONTHE GREATEST LEISURE FOR ALL PEOPLE
FIELDS CORPORATIONJASDAQ:2767

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Copyright 2008 FIELDS CORPORATION All rights reserved.

Contents

1st Half of the Year Ending March 2009 Results(Consolidated)

Full-Year Forecast for the Year Ending March2009 (Consolidated)

 Highlights for the 1st Half of the YearEnding March 20094

 Results for the 1st Half of the Year Ending
March 2009 (P/L)

5

 Segment Information for the 1st Half of theYear Ending March 2009
 Results for the 1st Half of the Year Ending
March 2009 (B/S) (Overview)

 Full-Year Forecast for the Year Ending March2009 (Consolidated/Non-consolidated)

9 Topics for the 2nd Half of the YearEnding March 2009 (Pachinko/Pachislot(PS) Field)

10 Group Strategy – Market Environment I

11 Group Strategy – Market Environment II

12

 Group Strategy – Achieving the Med-Term

13

6

7
Management Plan Group Strategy – Group Outline

14 Group Strategy – Group Company Topics I

15

 Group Strategy – Group Company Topics II

16

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1st Half of the Year Ending March 2009 Results(Consolidated)
 Highlights for the 1st Half of the Year Ending March 20094

 Results for the 1st Half of the Year Ending March 2009 (P/L)

5

 Segment Information for the 1st Half of the Year Ending March 20096

 Results for the 1st Half of the Year Ending March 2009 (B/S)(Overview)

7

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3

Highlights for the 1st Half of the Year Ending March 2009
 Launch the Med-Term Management Plan Pachinko/Pachislot Machine Sales Business：Despite tough market environment, strategic titles received high acclaim andresults were successful◇ Market Environment： Large-scale reduction in the pachislot machine market due to the move towards replacement demand for pachislot machines compliant with
2007’s new regulations continued
Effects of the industry voluntarily refraining from the replacement of machines out of consideration for the country’s hosting of the G8 Summit
at Lake Toya in June to mid-July 2008
◇ Strategic titles：

Pachinko machines that rely less on gambling nature“CRA Neon Genesis Evangelion Premium Model”

Pachinko machines in first additional innovative series of titles “CR Seven Samurai”
Major pachislot title machines“Neon Genesis Evangelion—That time has come, now they’re waiting for us”

 Transitory expenses incurred in the Game/Movies fields
 As part of Med-Term Management Plan’s group business strategy, have improved business efficiency through theabsorption merger of wholly owned subsidiaries Fields Pictures Corporation and White Trash Charms Japan Co., Ltd.

CR Seven Samurai・First additional innovative titles
・New video entertainment
・Director, Akira Kurosawa’s immortal masterpiece,
The Seven Samurai, has been completely remade
for exclusive use with pachinko machines, a firstfor the pachinko industry

Neon Genesis Evangelion―That time has come, now they’re waiting for us
・Neon Genesis Evangelion Pachislot series Part 3
・This machines body design is inspired by the epic
world of Evangelion
・Inclusion of new video footage from the film
‘Evangelion: 1.0 You Are (Not) Alone’, recreates
the image and impact“Release additional innovative titles” “Enhance brand capabilities under alliances”
Med-Term Management Plan achievements for March 2009
Source: Fields©GAINAX・カラー／Project Eva. ©Bisty
黒澤プロダクション ©三船プロダクション ©BP/PC ©FIELDS

Copyright 2008 FIELDS CORPORATION All rights reserved.
©Bisty4

Results for the 1st Half of the Year Ending March 2009 (P/L)
Pachinko/Pachislot Machine Sales Business progressed favorable(Unit：￥Billion)

1st Half
Forecast

Results

Initial forecast comparison

YOY

Net sales

37.0

41.5

＋

4.5

(+12.4%)(23.0)(-35.6%)

Operating income

2.5

3.2

＋

0.7

(+30.1%)(4.5)(-58.4%)

Net income

0.7

0.8

＋

0.1

(+20.7%)(2.2)(-72.5%)◇ November 6: Revision made to 1st half forecast(consolidated and non-consolidated)(Unit： Machines)

Pachinko Machine Sales
Pachislot Machine Sales
Total

Year Ended March 2008
1Q
2Q
1st Half
27,774
10,811
38,585173,503
57,375
116,128
212,088
85,149126,939

Year Ending March 2009
1Q
2Q
1st Half
53,23784,302
137,539
5,360
73,93379,29358,597
158,235
216,832

Pachinko Machines

Pachislot Machines《 TOPICS Pachislot Machine “Neon Genesis Evangelion” series 》
1st September 2005
2nd July 2007
3rd September 2008

Pachinko machine types less reliant
on Gambling nature became a huge
hit selling approx. 50,000 machines

1Q

Neon Genesis Evangelion

Neon Genesis Evangelion―‘Magokoro wo Kimini’《23,000 sold》《99,000 sold》■Sonic Live

■CRA Neon Genesis Evangelion Premium Model■CRA Morning Musume■CR Seven Samurai (※)[ 2Q sales: 72,000 ]■Neon Genesis Evangelion―That time has come, now they’re waiting for us(※)※Part of the sales will be recorded in the 3rd Quarter

Source: Fields©GAINAX・カラー／Project Eva. ©Bisty©UP-FRONT AGENCY／FIELDS ©Bisty
黒澤プロダクション ©三船プロダクション ©BP/PC ©FIELDS[ 2Q sales: 65,000 ]©SEGA. ©Sammy©本宮ひろ志/集英社/FIELDS ©Sammy ©RODEO©Bisty ©福本伸行／講談社 ©Sammy ©RODEO《approx. 90,000 sold》

Despite difficult market compared
to previous year succeeded in
becoming a huge hit selling
approx. 90,000 machines

As the First additional innovative
Titles and a new video entertainment
achieved approx. 80,000 sales

2Q

Neon Genesis Evangelion―That time has come,
now they’re waiting for us

Copyright 2008 FIELDS CORPORATION All rights reserved.

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Segment Information for the 1st Half of the Year Ending March 2009
 Pachinko/Pachislot (PS) Field ： Pachinko/Pachislot machine sales favorable
 Game/Movies Field： Transitory reasons (Price protection, early film distribution costs)
 Other Field (Mobile)： Made steady progress(Unit:￥Million)
Year Ended March 2008
1Q Results

Net sales

2Q Results

Year Ending March 2009
1st Half

1Q Results

2Q Results

1st Half

24,23440,41464,6487,321

34,26941,59021,09337,62258,715

4,197

30,76034,957

Game Field

2,223

1,917

4,140

1,904

2,223

4,127

Sports Field

-

-

-

961

1,016

1,977

Movies Field

-

-

-

26

4

30

Other Field

989

1,155

2,144

394

377

771

Elimination or Incorporation

(72)

(280)

(352)

(163)

(111)

(274)

2,322

5,500

7,822

(3,312)

6,564

3,252

2,540

6,083

8,623

(1,562)

7,131

5,569

Game Field

12

(371)

(359)

(1,112)(507)(1,619)Sports Field

-

-

-

(169)

(173)

(342)

Movies Field

-

-

-

(488)

(34)

(522)

Other Field

(228)

(211)

(439)

65

87

152

(1)

(0)

(1)

(44)

58

14

Pachinko/Pachislot(PS) Field

Operating income
Pachinko/Pachislot(PS) Field

Elimination or Incorporation*As of 1st Quarter of the Year Ending March 2009,‘Other Field’ has been divided into three segments: ‘Sports Field’, ‘Movies Field’ and ‘Other Field’
Source: Fields

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Results for the 1st Half of the Year Ending March 2009 (B/S)(Overview)(Unit:￥Million)

At March
31, 2008
Total current assets

At September
30, 2008

Increase/
Decrease

39,55955,717

16,158(Cash and cash equivalents)

12,841

10,848(1,993)(Inventories)

4,013

4,208

195

Total fixed assets

29,60932,154

2,545(Total tangible fixed assets)

8,093

11,617

3,524(Total intangible fixed assets)

3,937

3,513

(424)

(Total investments and otherassets)

17,57817,023(555)

Total assets

69,16887,871

18,703

Total current liabilities

19,32236,39017,068(Short-term borrowings)

3,398

5,921

2,523

(Accrued income taxes)

3,743

2,510

(1,233)

Total fixed liabilities

3,514

6,175

2,661

Total liabilities

22,83642,566

19,730Total net assets

46,33145,305(1,026)

Total liabilities and net assets

69,16887,871

18,703Major factors causing the increase/decrease
Increase in accounts receivable of Pachinko/Pachislot
machine sales, etc.(＋19,563)

Increase in game software and visual software in progress

Increase due to the purchase of land for establishingbranches

Increase in accounts payable of Pachinko/Pachislot sales,
etc.(＋13,950)
Increase in short-term borrowings by Fields Corporation( due to the purchase of land for establishing branches)

Source: Fields

Copyright 2008 FIELDS CORPORATION All rights reserved.

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Full-Year Forecast for the Year Ending March 2009
(Consolidated) Full-Year Forecast for the Year Ending March 2009
(Consolidated/Non-consolidated) Topics for the 2nd Half of the Year Ending March 2009
(Pachinko/Pachislot (PS) Field)
 Group Strategy – Market Environment I

11 Group strategy – Market Environment II

12

 Group Strategy – Achieving the Med-Term Management Plan

13

 Group Strategy – Group Outline

14 Group Strategy – Group Company Topics I

15

 Group Strategy – Group Company Topics II

16

9
10

Copyright 2008 FIELDS CORPORATION All rights reserved.

8Full-Year Forecast for the Year Ending March 2009
(Consolidated/Non-consolidated)
The initial full-year forecast will be unchanged considering the current business environment(％): ratio against Net sales

Year Ended March
2008

Consolidated

Net sales
Operating income
Ordinary income
Net income

Year Ending March 2009
1st Half Results

Full-Year
Results

Forecast

101.8

37.0

Net sales
Operating income
Ordinary income
Net income

Results

41.5

Full-Year
Forecast

Achievement against
Full-Year Forecast

75.0

55.4%
32.5%

13.1

2.5

3.2

10.0

(12.9%)(6.8%)(7.8%)(13.3%)

11.7

2.5

3.0

10.0

(11.5%)(6.8%)(7.3%)(13.3%)

5.2

0.7

0.8

5.3

(5.2%)(1.9%)(2.0%)(7.1%)

Year Ended March2008

Non-consolidated(Unit:￥Billion)

30.2%
15.9%

Year Ending March 2009
1st Half Results

Full-Year
Results

Forecast

82.7

29.0

Results

34.3

Full-Year
Forecast

Achievement against
Full-Year Forecast

55.0

62.4%
59.3%

12.6

4.5

5.6

9.5

(15.3%)(15.5%)(16.4%)(17.3%)

12.4

4.5

5.4

9.5

(15.1%)(15.5%)(16.0%)(17.3%)

4.1

2.5

3.2

5.3

(5.0%)(8.6%)(9.4%)(9.6%)

57.8%
60.9%

Source: Fields

Copyright 2008 FIELDS CORPORATION All rights reserved.

9

Topics for the 2nd Half of the Year Ending March 2009
(Pachinko/Pachislot (PS) Field): Pachinko machines continue to bring in a high utilisation rate and gross profit of pachinko hall machines, in contrast, Pachinko/Pachislot(PS) Market Environment pachislot machines have found the market difficult compared to last year, due to replacement demand in last years
1st half.
: Planned release of major title pachinko machines in the 4th Quarter Points
Continue to release pachinko/pachislot machines with superior entertainment features
Focus on pachinko sales (sales commission) from the 3rd Quarter, resulted in higher profit and lower sales figure

Pachinko Machines

Pachislot Machines

CR Virtua Fighter

Tenchi wo Kurau

・Adopting content from thefighting game “Virtua Fighter”

・Incorporating elements fromcomic book writer Hiroshi
Motomiya’s ‘Tenchi wo Kurau’

CR King Kong
3Q

・Adopting content from themega hit movie “King Kong”

Kaiji Act 2
3Q

CR Mystic Blue

・Incorporating elements fromcomic book writer Nobuyuki
Fukumoto’s highly popularseries “Kaiji”

・Collaboration with actress andmodel Miho Yoshioka

4Q

Source: Fields

Releasing major titles(Titles released as of November 4, 2008)©SEGA. ©Sammy
Universal Studios' King Kong movie ©Universal Studios.
Kong The 8th Wonder of the World ™ Universal Studios.
Licensed by Universal Studios Licensing LLLP. All Rights Reserved.
©Bisty©ワンエイトプロモーション ©FIELDS©本宮ひろ志/集英社/FIELDS ©Sammy ©RODEO©福本伸行／講談社 ©Sammy ©RODEO

4Q

Continuous release of products

Copyright 2008 FIELDS CORPORATION All rights reserved.

10Group Strategy – Market Environment I
The whole of the contents markets experiencing a slump in 2008
◇ Game Market(Unit:￥Billion)

1st Half of 2008 Game Market (Comparison)
Hardware

SoftwareTotal

1st Half of
2007

143.2

160.1

303.3

1st Half of
2008

95.2

143.6

238.8

YOY

66.5%

89.7%

78.7%

Source: Enterbrain, Inc. (Term March 31, 2008-September 28, 2008)◇ Film Market
According to Motion Picture Producers Association of Japan Inc., films
released by 13 box office leaders’ total box office income between
January and May was ￥67.7 billion.
(13.5％ drop compared to previous year)
Deputy Director General of the association, Takeshi Otagi says
‘The market is in a definite slump compared to last year.’In addition to the low prices of DVDs, the backfiring of a “small profit
quick returns” strategy of showing more films to compensate for adecrease in drop in the box-office income for each film is thought to be
the reason for this.
Source: Sankei Shinbun News, July 13, 2008

◇ DVD Market
January – September 2008 Total Results
YOY
Copies(Million)
Sales(￥Billion)

September 2008 Monthly Results
Sales(￥Billion)
YOY
Copies(Million)

YOY

YOY

Sell DVD

133.5

92.9%

40.8

91.2%

Sell DVD

13.0

79.1%

4.2

88.7%

Rental DVD

73.8

96.0%

21.1

115.0%

Rental DVD

9.4

100.3%

2.5

115.2%

Commercial
DVD

0.9

72.8%

0.6

21.5%

Commercial
DVD

0.2

86.5%

0.1

57.7%

208.4

93.9%

62.6

94.6%

Total

22.7

86.8%

6.9

97.2%

Total

Source: Japan Video Software Association
Source: Fields

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11

Group Strategy – Market Environment II◇ Publication Market[ Comics ][ Magazine ]Comic Sales(1991-2007)

Magazine Sales(2006-2008)
Million３00(¥Billion)

350

CopiesComic magazine
２00

300

１00

250

５％
０％

０
200

Comicsー５％
ー１０％

YOY (Month by month)150
91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07

Y2006

Y2007

ー１５％
Y2008

Source: The Research Institute for Publications

Comic Magazine sales have continued to drop since 1995.
Comics sales have had little fluctuation but film and television
adaptations and other such media franchising has helped
increase sales.
With the growth of e-comics on mainly mobile phones, theformal launch of rental comics and the emergence of free comicmagazines, the comic market is undergoing huge changes.
Source: Shuppan Geppou, February 2008

Discontinued magazines in 2008
・ Monthly Gendai (Kodansha)
・ Style (Kodansha)
・ KING (Kodansha)
・ ROADSHOW (Shueisha)
・ PLAYBOY Japan (Shueisha)・ Weekly Young Sunday (Shogakukan)

・ Lapita (Shogakukan)
・ Ronza (Asahi newspaper)
・ Kokokuhihyo (Madra Publishing)・ SHUFU NO TOMO(SHUFU NO TOMOSHA)・ BOAO (Magazine House)
・ GRACE (Sekai Bunka Publishing)Source: Nihon Keizai Shinbun, 2 October 2008

Source: Fields

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12

Group strategy - Achieving the Med-Term Management Plan Strengthening alliances and accelerating business with group and partner companies
 Enhancing the effectiveness of investment through the timely and concentrated use ofbusiness resources⇒ Have implemented aggressive business restructuring in order to achieve above

Wholly owned subsidiary companies absorption merger
Fields Pictures Corporation［Acquiring rights, creation of digital contents]

White Trash Charms Japan Co., Ltd.

［Sales of accessories]⇒ Aim to manage group profits through effective utilization of business resources◇ Merger Process： 2 companies will be dissolved as part of their merger and absorption into
Fields Corporation, which will be the sole surviving entity◇ Date of merger (Effective Date): January 1, 2009 (Planned)◇ Effect on Business Result ： There will be little impact as both are wholly owned subsidiaries
Source: Fields

Copyright 2008 FIELDS CORPORATION All rights reserved.

13

Group strategy - Group outline

Content synergies

Publications

Pachinko/Pachislot
business

Increasing profit throughsynergies among Group
companies

Animation

New entertainment
creation business

Ildel
Corporation

Cinequanon
Plan to establish a joint company in order
to invest in films for the purpose ofcreating future pachinko/pachislot

Games

Synergies createdamong various typesof spaces

Fields Jr.
Corporation
Shin-Nichi
Technology Co., Ltd.

Mobiles

TV/Movies

JFC Sports
Vanguard, Inc.

Sports
EXPRESS Inc.

YMO Inc.

Source: Med-term Business Management Plan

Source: Fields

Copyright 2008 FIELDS CORPORATION All rights reserved.

14

Group Strategy - Group Company Topics I
Game Field

 Subsidiary company: D3 Inc.(JQ:4311) 2nd Half Topics

 1st Half

： Business depression due to transitory reasons (Price protection, Loss due to discontinued production)

 2nd Half

： Planning to achieve the 2nd half plan by releasing major titles◇ International： Continuous release of “Ben10～PROTECTOR OF EARTH～”, New release of “Ben10～Alien Force～”“Coraline”, “Eat Lead”, etc.
Simulator software of “Neon Genesis Evangelion―That time has come, now they’re waiting for us”, “Galileo”,◇ Domestic：“Takeout! DS series”, etc.
(Unit:￥Million)

November 6,
Revised plan

Year Ended
March 2008

Main title topics

Year Ending March 2009

“Ben10 ～PROTECTOR OF EARTH～”

1st Half

Full-Year
Results

1st Half
Results

2nd Half
Forecast

Full-Year
Forecast

・ Long seller title released in the previous year
・ Progressed favorably, selling a million copies in 1st half

Net sales

14,286

4,056

10,94315,000・ Became major title, selling 2 million copies so far

Operating income

1,069-1,357

2,007

650

Ordinary income

414-1,3171,867

550

Net income

293-1,536

1,586

50“Ben10 ～Alien Force～” (Ben10 Series sequel)(Unit: Thousands)

・ Released in North America on October 28
・ European release before the end of the year to tie-up withTV broadcast.

Consumersales

Year Ended
March 2008

2nd Half
Int.
(Ex.)

“Ben10 ～PROTECTOR OF EARTH～” Total SalesYear Ending March 2009200

Full-Year
Results

1st Half
Results

2nd Half
Forecast

Full-Year
Forecast

150

Japan

1,313

460

850

1,310

100

North America

2,627

1,103

2,625

3,728

Europe

1,041

468

1,071

1,539

Total

4,982

2,032

4,545

6,577

US

Over 2 Million！
(September, 2008)

Europe[ Coraline ][Eat Lead]

Over 1 Million！
(April, 2008)

Dom.
(Ex.)

50

0
07/10

07/12

08/02

08/04

08/06

08/08

Source: Fields

Copyright 2008 FIELDS CORPORATION All rights reserved.

15

Group Strategy - Group Company Topics II
SportsField

 Accelerate business restructuring Japan Sports Marketing Inc.
→ Reduce rights business and focus on athlete management
and solutions(TWO)business→ Closed Ebisu-Bashi branch of TWO at end of September toimprove profitability
 EXPRESS Inc.
→ Increase in members at Fukuoka branch of TWO, opened
April 2008, resulted in quick realization of profitability

MoviesField

 Wholly owned subsidiarycompanies absorption merger Fields Pictures Corporation→ Invested Korean Film “Saikyo☆Kanojo”, distributed by
SPO Inc. to be released November, 2009
→ Absorption into Fields Corporation planned (January 1,
2009, simplified merger)

Other
Field

 Creation and distribution of various
contents

 Lucent Pictures Entertainment, Inc.
→ With the aim of developing cross media in films, video andTV, the company started operations for planning andproducing animation, and projects reaching profitability by
the fiscal year ending March 31, 2010
 FutureScope Corporation→ Fields Mobile paying members exceeded 380,000, and aim
at increasing further
 SPO Inc.
→ Fields Pictures Corporation Invested Korean Film
“Saikyo☆Kanojo”, released November, 2009 in Cinemart
cinemas→ Reduce own distribution of and investment in films andchange investment strategy to concentrate on TV dramas
 Bbmf Magazine Inc.
→ Launch streaming of comics in Korea, with plans to expand
into China and Taiwan
 White Trash Charms Japan Co., Ltd.
→ Absorption into Fields Corporation planned (January 1,
2009, simplified merger)

Source: Fields

Copyright 2008 FIELDS CORPORATION All rights reserved.

16

Reference: Our new IR siteAwarded the “2008 IR Company of Excellence” by JASDAQ.
Information for investors can be found in an easy to use and convenient format at our IR site. Please visit us at:< Fields IR Site (Information for shareholders and investors) >http://www.fields.biz/ir/j/
Simple and clear summary of Fields
Corporation vision and growthstrategy.

The easy to use site allows individual
investors and first time visitors to theIR site to learn more about the Fields
Corporation.

Information on financial andbusiness results, corporate data
and IR archives are listed in an easy
to understand format.

Source: Fields

Copyright 2008 FIELDS CORPORATION All rights reserved.

29
17

Disclaimer/Contact

The plans, strategies and estimates of the Company indicated in these documents,
other than actual results and facts, include potential risks and uncertainties and cannot
be guaranteed.
Potential risks and uncertainties include, but are not limited to, the economic
environment of the pachinko/pachislot market in which the Company operates, market
competition and the products handled by the Company.

 IR Section,
Investor and Public Relations Office
Contact

 Tel.: +81-3-5784-2111
 E-mail: ir@fields.biz

Source: Fields

Copyright 2008 FIELDS CORPORATION All rights reserved.

18