Consolidated Financial Results
for the First Quarter Ended June 30, 2012 [ Japan GAAP ]August 3, 2012

The Sumitomo Warehouse Co., Ltd.
Stock Code:9303

Stock Exchange Listings:

Tokyo and Osaka

URL:

http://www.sumitomo-soko.co.jp/

Representative :Shoichi Abbe, President

Contact Responsibility:

Satoru Yonemitsu, General Manager,
Finance & Accounting Department

Phone Number:+81 6 6581 1183

Date of the filing of the Quarterly Report:

August 10, 2012

Starting date of dividend payment:―Supplementary Material

None

Financial Results Presentation

None

１．Consolidated Financial Results for the First Quarter Ended June 30, 2012 (April 1, 2012- June 30, 2012)
Figures are rounded down to the nearest million yen, except per share figures.
(1) Consolidated Results of Operations
Operating revenue
Millions of yen(％: change from the previous year)

Operating income％

Ordinary income％

Millions of yen

Millions of yen

Net income％

Millions of yen％

Three months ended June 30, 2012

38,850

14.2

2,464

(3.0)

3,042

(3.2)

1,808

(3.9)

Three months ended June 30, 2011

34,015

4.3

2,541

2.9

3,142

4.4

1,882

2.6

Notes: Comprehensive income:Three months ended June 30, 2012: 655 million yen；（-69.0）%
Three months ended June 30, 2011: 2,116 million yen; （－）%
Net income per share
Yen
Three months ended June 30, 2012

10.14

Three months ended June 30, 2011

10.55

Dilutive Net Incomeper share
Yen
10.14
－(2) Consolidated Financial Position
Equity ratio

Total assets

Net assets

Millions of yen

Millions of yen％

As of June 30, 2012

233,494

119,849

48.7

As of March 31, 2012

245,092

120,287

46.6

Notes: Equity
As of June 30, 2012: 113,636 million yen
As of March 31, 2012: 114,181 million yen

2．Dividends
Dividends per shareFirst Quarter
ended
Yen
Year ended March 31, 2012－

Year ending March 31, 2013－

Second Quarter
ended
Yen
5.00

Year ending March 31, 2013
5.50
(Forecast)
Notes: Revision of cash dividend forecast since the latest disclosure: None

- 1 -Third Quarter
ended
Yen

Year-end

Annual

Yen

Yen－

6.00

11.00

－

5.50

11.00

3. Forecasts for the Year Ending March 31, 2013 (April 1, 2012-March 31, 2013)
Operating revenue
Millions of yen％

Operating income
Millions of yen％(%: change from the previous year)
Net income
Net incomeper share

Ordinary income
Millions of yen％

Millions of yen％

Yen

Six months

78,00014.2

5,000(1.8)

5,500(1.1)

3,200

3.7

17.95

Full year

157,000

12.3

10,300

7.1

11,200

6.9

6,600

1.4

37.01

Note: Revision of forecasts since the latest disclosure: None

4. Other(1) Changes of significant subsidiaries during the period (change of specified subsidiaries that affected the scope of consolidated
reporting): None
(2) Adoption of special accounting methods for quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates and restatements
1) Changes in accounting policy in accordance with revision of accounting standard: Yes
2) Changes other than 1): None
3) Changes in accounting estimates: Yes
4) Restatements: None
(4) Number of shares issued (common stock)
Number of shares issued at the end of the period (including treasury stock) :As of June 30, 2012 : 195,936,231 shares
As of March 31, 2012 : 195,936,231 shares
Number of treasury stocks at the end of the period :As of June 30, 2012 : 17,614,578 shares
As of March 31, 2012 : 17,614,980 shares
Average number of shares issued during the period :First quarter ended June 30, 2012 : 178,321,126sharesFirst quarter ended June 30, 2011 : 178,328,638shares

Note:
These forecasts are based on information currently available and certain assumptions judged to be reasonable. The Company’s actual
results may differ materially from those discussed in these forecasts as a result of numerous factors outside of Company’s control.

- 2 -Consolidated Financial Results(1) Consolidated quarterly balance sheets(Millions of yen)
As of March 31, 2012

As of June 30, 2012Assets
Current assets
Cash and deposits

32,25418,700Notes and operating accounts receivable

17,92018,108

Short-term investment securities

43

Real estate for sale

9480

Work in process

4157

Deferred tax assets

943

696

Other

4,185

3,538

Allowance for doubtful accounts

(146)

(127)

55,29741,057

Buildings and structures, net

61,26761,535

Machinery, equipment and vehicles, net

2,801

2,936

Vessels, net

4,691

9,162

895

854

46,231

46,277

Construction in progress

456

962

Other, net

202

242

116,546

121,972

Goodwill

3,687

3,772

Leasehold right4,319

4,347

Software

1,460

1,376

Other

495

730

9,962

10,22754,07350,382

621

451

Deferred tax assets

2,298

2,403

Other

6,658

7,364

Allowance for doubtful accounts

(366)

(365)

Total investments and other assets

63,28560,237

189,795

192,436

245,092

233,494

Total current assets
Noncurrent assets
Property, plant and equipment

Tools, furniture and fixtures, net
Land

Total property, plant and equipment
Intangible assets

Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable

Total noncurrent assets
Total assets- 3 -(Millions of yen)
As of March 31, 2012

As of June 30, 2012

Liabilities
Current liabilities
Notes and operating accounts payable-trade

11,376

11,279Current portion of bonds－50

Short-term loans payable

29,38821,639

Income taxes payable

2,154

915

Provision for bonuses

1,441

1,038

Other

5,103

4,936

Total current liabilities

49,46439,859500450Long-term loans payable

46,952

46,748Deferred tax liabilities

11,43910,182

Provision for retirement benefits

3,024

2,996

108

111

Long-term deposits received

12,286

12,271

Other

1,030

1,026

Total noncurrent liabilities

75,34173,785

124,805

113,644

Capital stock

21,822

21,822

Capital surplus

19,175

19,175Retained earnings

70,53971,278Treasury stock(9,154)(9,154)

Total shareholders' equity

102,383

103,122

Valuation difference on available-for-sale securities

13,997

11,669Foreign currency translation adjustment(2,199)(1,155)

Total accumulated other comprehensive income

11,79810,51489

89

Minority interests

6,016

6,124

Total net assets

120,287

119,849

245,092

233,494

Noncurrent liabilities
Bonds payable

Provision for directors' retirement benefits

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income

Subscription rights to shares

Total liabilities and net assets- 4 -(2) Consolidated quarterly statements of income and Consolidated quarterly statements of comprehensive income(Consolidated quarterly statements of income)(Millions of yen)Three months ended
June 30, 2011

Three months ended
June 30, 2012

Warehouse income

5,349

5,543

Harbor transportation income

9,868

9,180

International transportation income

6,694

6,483

Land transportation income

6,913

6,928

－

5,733

1,247

1,244

Operating revenue

Shipping income
Rent income of warehouse and logistics facilities
Rent income of real estate

2,311

2,317

Other

1,631

1,418

Total operating revenue

34,01538,850

Cost of sales

19,97023,920

Personal expenses

4,280

4,327

Rent expenses

1,923

2,395

Operating cost

Taxes and dues

497

495

Depreciation

1,301

1,435

Other

1,653

1,678

Total operating cost

29,62634,253Operating gross profit

4,388

4,596

Salaries and allowances and welfare expenses

936

1,089

Provision for bonuses

166

162

Retirement benefit expenses

54

57

Amortization of goodwill

26

98

Other

662

724

1,847

2,131

2,541

2,464

Interest and dividends income

691

713

Equity in earnings of affiliates

136

13

Other

50

102

Total non-operating income

878

828

Interest expenses

188

179

Other

89

71

Total non-operating expenses

277

251

3,142

3,042

Selling, general and administrative expenses

Total selling, general and administrative expenses
Operating income
Non-operating income

Non-operating expenses

Ordinary income- 5 -(Millions of yen)Three months endedJune 30, 2011

Three months ended
June 30, 2012

Gain on sales of noncurrent assets

1811

Total extraordinary income

1811

Loss on retirement of noncurrent assets

3448

Loss on valuation of investment securities－106

Provision of allowance for doubtful accounts

148－

Total extraordinary losses

183

155

2,978

2,898

Income taxes-current

847

757

Income taxes-deferred

156

271

Total income taxes

1,003

1,028

Income before minority interests

1,974

1,870

91

61

1,882

1,808

Extraordinary income

Extraordinary loss

Income before income taxes and minority interestsMinority interests in income
Net income- 6 -(Consolidated quarterly statements of comprehensive income)(Millions of yen)Three months ended
June 30, 2011

Three months ended
June 30, 2012

1,974

1,870

Valuation difference on available-for-sale securities(207)(2,350)Foreign currency translation adjustment

339

1,095

Income before minority interests
Other comprehensive income

Share of other comprehensive income of associates
accounted for using equity method

1139142(1,215)

2,116

655

Comprehensive income attributable to owners of the parent

2,001

524

Comprehensive income attributable to minority interests

115130Total other comprehensive income
Comprehensive income
Comprehensive income attributable to- 7 -(3) Consolidated quarterly statements of cash flows(Millions of yen)Three months ended
June 30, 2011

Three months ended
June 30, 2012

Income before income taxes and minority interests

2,978

2,898

Depreciation and amortization

1,471

1,622

2698

Increase (decrease) in provision

(107)

(451)

Interest and dividends income

(691)

(713)

Net cash provided by (used in) operating activities

Amortization of goodwill

Interest expenses

188179Equity in (earnings) losses of affiliates

(136)

(13)

Loss (gain) on sales of noncurrent assets

(18)

(11)

Loss on retirement of noncurrent assets

34

48

－106

Decrease (increase) in notes and accounts receivable-trade

(290)

51

Increase (decrease) in notes and accounts payable-trade

202

(291)

Other, net

(356)

534

Subtotal

Loss (gain) on valuation of investment securities

3,299

4,060

Interest and dividends income received

711

719

Interest expenses paid

(297)

(299)

Payments for loss on disaster(22)－Income taxes paid

(1,472)(1,965)

Net cash provided by (used in) operating activities

2,218

2,514

Payments into time deposits(5,694)(620)

Proceeds from withdrawal of time deposits

8,600

6,229

Purchase of property, plant and equipment(614)(6,716)

Proceeds from sales of property, plant and equipment

50

14

Purchase of intangible assets

(51)

(340)

Net cash provided by (used in) investing activities

(7)

(19)

Purchase of investments in subsidiaries

Purchase of investment securities(239)－Payments of loans receivable

(47)

(47)

Collection of loans receivable

21220Other, net

290

(741)

2,308

(2,020)

Increase in short-term loans payable

2,662

3,062

Decrease in short-term loans payable(2,511)(2,849)Proceeds from long-term loans payable30

12,240

Repayment of long-term loans payable(352)(20,410)

Cash dividends paid

(840)

(1,011)

Net cash provided by (used in) investing activities
Net cash provided by (used in) financing activities

Other, net

(34)

(31)

(1,046)(9,000)185

530

Net increase (decrease) in cash and cash equivalents

3,666(7,977)

Cash and cash equivalents at beginning of period

15,24922,703

Cash and cash equivalents at end of period

18,915

14,726

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents- 8 -(4) Segment information
1. Information related to operating revenue and income (loss) by reportable segment
Three months ended June 30, 2011
Reportable segment
Adjustment(Note 1)

(Millions of yen)Amount inconsolidated
quarterlystatements ofincome(Note 2)

Logistics

Real estate

Total

31,6962,318

34,015－34,01529699(99)－Total31,698

2,415

34,114(99)

34,015

Segment income

2,126

1,394

3,521(979)2,541Operating revenue
Operating revenue to outside customers
Intersegment transfers

Notes: 1. Adjustment in segment income of ¥ -979 million includes company-wide expenses of ¥ -939 million, which are not allocated to
the respective reportable segments. Company-wide expenses consist mainly of the expenses not assignable to neither of thereportable segments for administrative departments of the Company and some of its consolidated subsidiaries.
2. Segment income is adjusted to coincide with operating income as recorded on the Consolidated quarterly statements of income.

Three months ended June 30, 2012
Reportable segment
Adjustment(Note 1)

(Millions of yen)Amount inconsolidated
quarterlystatements ofincome(Note 2)

Logistics

Shipping

Real estate

Total

30,761

5,733

2,355

38,850－38,850119

46100

267(267)－

Total

30,880

5,780

2,456

39,117(267)38,850

Segment income

2,037(40)1,389

3,386(921)2,464Operating revenue
Operating revenue to outside customers
Intersegment transfers

Notes: 1. Adjustment in segment income of ¥ -921 million includes company-wide expenses of ¥ -970 million, which are not allocated tothe respective reportable segments. Company-wide expenses consist mainly of the expenses not assignable to neither of thereportable segments for administrative departments of the Company and some of its consolidated subsidiaries.
2. Segment income is adjusted to coincide with operating income as recorded on the Consolidated quarterly statements of income.

2. Alteration of reportable segments etc.
The Company has presented a reportable segment “Shipping” from the last 4Q financial period. This is because the Company turned
Westwood Shipping Lines, Inc. into its consolidated subsidiary and commenced shipping business from the period.

- 9 -