May 13, 2016
Name of Listed Company: ISEKI & CO., LTD.
Stock Exchange Listings: Tokyo
Company Code:6310 (URL http://www.iseki.co.jp)
Representative: Title President
Name Eiichiro Kinoshita
Enquiries:
Title Corporate Officer and General Manager of Financial Department Name Kazuma Takahashi
Telephone: +81 3 5604 7709
Date of Submission of Quarterly Report:
Scheduled Date to Commence Dividend Payment:
Quarterly Financial Results Briefing:

May 13, 2016
—Supplementary Information for Quarterly Financial
Results: Yes
Yes (for institutional investors and analysts)

Summary Announcement of Consolidated Financial Results
for the Three Months Ended March 31, 2016 (Japanese GAAP)
I. Financial Results for the Three Months Ended March 31, 2016 (January 1, 2016－March 31, 2016)
A. Results of Operations(Rounded down to a million yen, % indicates changes from the previous period)

Three Months
Ended March 31,
201637,671
(394)
(663)
(583)

Three Months
Ended June 30,
2015
34,214
267
397
134

%

%

Net Sales—(30.5)
Operating Income (Loss)—(86.5)
Ordinary Income (Loss)—(78.0)
Profit (Loss) Attributable to Owners of Parent—(89.2)
Profit (Loss) per Share (yen)Non-diluted(2.58)
0.60
Fully Diluted—0.60
Note: Comprehensive income
Three months ended March 31, 2016: -¥1,777 mil. (—%)
Three months ended June 30, 2015: ¥177 mil. (-85.8%)
The fiscal year of the Company, previously from April 1 to March 31 of the following year, has been changed toJanuary 1 to December 31 of the year, effective as of the fiscal year ended December 31, 2015. Accordingly, theyear-on-year changes are not given for the first quarter of fiscal 2016 (January 1, 2016 to March 31, 2016) since theperiod is different from the first three months of the previous fiscal year (April 1, 2015 to June 30, 2015).
B. Financial Position(Rounded down to a million yen)

Total Assets
Net Assets
Shareholders’ Equity to Total Assets Ratio (%)
Net Assets per Share (yen)Reference: Shareholders’ equity
As of March 31, 2016: ¥64,299 mil.
As of December 31, 2015: ¥66,380 mil.

As of March 31, 2016

As of December 31, 2015

211,637
65,97930.4
284.66201,149
68,09933.0
293.87

II. Dividends(Yen)End of 1Q
FY Ended December 31, 2015
FY Ending December 31, 2016
FY Ending December 31, 2016(Forecast)——

Dividend per Share
End of 2Q
End of 3Q————

Year-end
1.50

Annual
1.50

1.50–
3.00

1.50–
3.00

Note: Revision of the most recently announced dividend forecast: NoneIII. Forecast for the Fiscal Year Ending December 31, 2016 (January 1, 2016－December 31, 2016)(Rounded down to a million yen, % indicates changes from the previous period)
Net Sales%

Operating
Income%Ordinary
Income%ProfitAttributableto Owners ofParent%

Profit perShare(yen)83,000—1,400—
1,300—700—3.10
165,000—
3,500—
3,200—
1,900—
8.41
Note: Revision of the most recently announced performance forecast: None
Due to the change in the fiscal year of the Company, the fiscal year ended December 31, 2015 is a nine-month period
from April 1, 2015 to December 31, 2015. Because year-on-year comparisons are impossible, percentage changes
year on year are left blank.
InterimFull Year* Notes
A Changes in important subsidiaries during the period (change in specified subsidiaries which accompanies achange in the range of consolidation): None
B Adoption of unique accounting method for preparing the quarterly consolidated financial statements: None
C Change in accounting policy, change in accounting estimates and restatements
1) Change in accounting policy in response to revision of accounting standards: None
2) Change in accounting policy other than 1):
None3) Change in accounting estimates:
None4) Restatements:
None
D Outstanding shares (common shares)
1) Outstanding shares (including treasury shares) As of March 31, 2016
229,849,936 shares
As of December 31, 2015
229,849,936 shares
2) Outstanding treasury shares
As of March 31, 2016
3,965,523 shares
As of December 31, 2015
3,964,166 shares
3) Average number of shares during the period
Three months ended March 31, 2016
225,885,330 shares
Three months ended June 30, 2015
225,889,620 shares*Statement regarding implementation of the quarterly review procedure
Although the summary of quartely financial results is exempt from the quarterly review procedure required
under the Financial Instruments and Exchange Act, we have completed the review procedure of the financial
statements at the time of disclosure.
*Statement regarding the proper use of financial performance forecast and other notes
The forecast for operating results has been determined based on information presently available, as well as on
the assumptions that the Company believes to be reasonable. It is possible that in the future, actual results may
differ from the anticipated figures for a variety of reasons. Please refer to “1. Qualitative Information Regarding
Financial Results for the Period” on page 2 of the supplementary material for the assumptions underlying theforecast and precautions when using the forecast.

 Table of contents for supplementary material
1. Qualitative Information Regarding Financial Results for the Period .....................................................2(1) Explanation Regarding Business Performance .................................................................................2(2) Explanation Regarding Financial Position .......................................................................................2(3) Explanation Regarding Forward-looking Statements Including Consolidated
Performance Forecast .......................................................................................................................2
2. Matters Concerning Summary Information (Notes)...............................................................................3(1) Changes in Important Subsidiaries during the Period ......................................................................3
3. Consolidated Financial Statements ........................................................................................................4(1) Consolidated Balance Sheets ............................................................................................................4(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income .......6(3) Notes Regarding the Consolidated Financial Statements .................................................................8(Notes Regarding the Going Concern Assumption) .........................................................................8(Notes Regarding Significant Changes in Shareholders’ Equity) .....................................................8(Significant Subsequent Events) .......................................................................................................8-1-1. Qualitative Information Regarding Financial Results for the Period(1) Explanation Regarding Business Performance
During the three months ended March 31, 2016, the Japanese economy saw limited improvement of corporate
earnings and business confidence due to the strong yen from the beginning of the year and the continued weakness in
the recovery of consumer spending. Furthermore, although the European and U.S. economies remain on a robust
recovery trend, the growth of the Chinese economy has continued to decelerate since last year, while many otheremerging countries also face a severe situation due to the fall in oil prices. We believe that it will take time for theoverall economic environment, including in Japan, to recover.
With regard to the environment surrounding agriculture in Japan, the demand environment is starting to show
signs of recovery, as evidenced by a rise in the price of last year’s rice and the securing of a large-scale agriculturaladministration budget including supplementary budgets, with accompanying structural changes.
Under such circumstances, the ISEKI Group continued its efforts to increase sales volume in Japan by launching
new products and enhancing customer service, while it endeavored to expand sales overseas in its core markets ofNorth America, Europe, China and the ASEAN region by strengthening marketing. As a result, the Group’s businessperformance can be summarized as follows.
Note: The fiscal year of the Company, previously from April 1 to March 31 of the following year, has been changed
to January 1 to December 31 of the year, effective as of the fiscal year ended December 31, 2015. Accordingly, theyear-on-year changes are not given for the first quarter of fiscal 2016 (January 1, 2016 to March 31, 2016) since theperiod is different from the first three months of the previous fiscal year (April 1, 2015 to June 30, 2015).
During the three months ended March 31, 2016, net sales totaled ¥37,671 million. Domestic sales amounted to¥28,168 million, mainly as a result of the increase in sales of farming implements and construction of facilities,
despite a slight year-on-year decrease in sales of agricultural machinery in general, mainly of rice transplanters.
Overseas sales amounted to ¥9,502 million reflecting an increase in shipments due to the recovery of the Chinese
market, as well as strong shipments to ASEAN.
Since the three months ending March 31 is a low demand period, operating income or loss was a loss of ¥394
million, ordinary income or loss was a loss of ¥663 million, mainly due to the recording of foreign exchange losses,and profit or loss attributable to owners of parent was a loss of ¥583 million.
Sales by product are as follows.
[Domestic]
Sales of cultivating & mowing machinery (tractors, high-clearance multipurpose vehicles, etc.) were ¥7,690 million,
and sales of planting machinery (rice transplanters and vegetable transplanters) were ¥2,402 million. Sales of
harvesting and processing machinery (combine harvesters, etc.) were ¥3,009 million. Sales of spare parts andfarming implements were ¥7,108 million. Sales of other agriculture-related business (construction of facilities, etc.)
were ¥7,957 million.
[Overseas]
Sales of cultivating & mowing machinery (tractors, etc.) were ¥6,740 million, and sales of planting machinery (ricetransplanters, etc.) were ¥2,029 million. Sales of spare parts and farming implements were ¥546 million. Sales ofother agriculture-related business were ¥186 million.
(2) Explanation Regarding Financial Position
Total assets as of March 31, 2016 increased ¥10,488 million from December 31, 2015 to ¥211,637 million.
Looking at the breakdown, current assets increased ¥13,054 million and non-current assets decreased ¥2,565million. The changes mainly resulted from a ¥6,395 million increase in cash and deposits, a ¥5,833 million increasein notes and accounts receivable–trade, a ¥1,449 million increase in inventories, and a ¥2,206 million decrease ininvestment securities.
Total liabilities increased ¥12,608 million from December 31, 2015 to ¥145,658 million. The change resulted
mainly from a ¥2,054 million increase in notes and accounts payable–trade, a ¥905 million decrease in electronicallyrecorded obligations–operating, a ¥14,278 million increase in short-term and long-term loans payable, a ¥1,921
million decrease in other under current liabilities, and a ¥1,127 million decrease in other under non-currentliabilities.
Net assets decreased ¥2,120 million from December 31, 2015 to ¥65,979 million, mainly due to the recording of a
¥1,376 million decrease in valuation difference on available-for-sale securities, ¥583 million in loss attributable toowners of parent and ¥338 million in dividends of surplus.
(3) Explanation Regarding Forward-looking Statements Including Consolidated Performance Forecast
Although consolidated sales ended slightly below target both in Japan and overseas for the three months ended
March 31, 2016, profits ended roughly as targeted as fixed costs and expenses were reduced.
Going forward, we expect a gradual recovery in sales of agricultural machinery in Japan in May or later, when theAgri-Seed Leasing program (a leasing support program provided by the JA Group) is adopted and contributes to-2-

sales in spring, when demand for our products grow, amid a recovery in the price of last year’s rice. Through Dream
Agricultural Research Institute, an institute for research, verification and dissemination of advanced agriculturaltechnology, as well as services at large-scale maintenance factories in the local regions, we will continue to strive toexpand sales by further strengthening our capabilities to support customers and provide high-quality marketing
services. In overseas markets, we will focus on further expanding the sales of strategic products introduced in North
America, Europe, China and major markets in the ASEAN region. Furthermore, we will strive for further sales
expansion at Dongfeng Iseki Agricultural Machinery Co., Ltd., an affiliate accounted for by the equity method, andother overseas affiliates. In terms of income, we will aim to achieve our profit target through a reduction of fixed
costs by fully enforcing low-cost operations, which we advocate in our management policy for the consolidated
fiscal year under review.
We have not revised our consolidated business performance forecasts for the first half and full year, since firstquarter performance was in line with the target.
The latest business performance forecast uses foreign exchange rates for the full year of ¥120 per U.S. dollar and¥130 per Euro (there are no revisions to the exchange rates used for this forecast).

2. Matters Concerning Summary Information (Notes)(1) Changes in Important Subsidiaries during the Period
Not applicable-3-3. Consolidated Financial Statements(1) Consolidated Balance Sheets
FY ended
December 31, 2015(as of Dec. 31, 2015)(Millions of yen)
1Q of FY ending
December 31, 2016(as of Mar. 31, 2016)

AssetsCurrent assets
Cash and deposits

8,788

15,183

Notes and accounts receivable-trade

24,89530,729Merchandise and finished goods

40,60042,212Work in process

5,856

5,921

Raw materials and supplies

1,359

1,132

Other

5,327

4,712

(56)

(65)

86,771

99,826

Buildings and structures, net

22,95723,518Land

50,65750,625

Other, net

23,296

22,832

Total property, plant and equipment

96,911

96,977

1,134

1,131

Investment securities

8,569

6,362

Other

8,062

7,639Allowance for doubtful accounts

(300)

(298)

Total investments and other assets

16,331

13,703

114,377

111,811201,149

211,637

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Intangible assets
Investments and other assets

Total non-current assets
Total assets-4-FY ended
December 31, 2015(as of Dec. 31, 2015)(Millions of yen)
1Q of FY ending
December 31, 2016(as of Mar. 31, 2016)

Liabilities
Current liabilities
Notes and accounts payable-trade29,40031,455

Electronically recorded obligations-operating
Short-term loans payable

10,604
24,3899,698
29,412Current portion of long-term loans payable

8,641

9,691

Income taxes payable

438

578

Provision for bonuses

467

786

Other

13,575

11,654

Total current liabilities

87,51893,276

Non-current liabilities
Long-term loans payable

23,70331,909Deferred tax liabilities for land revaluation

6,074

5,790

Provision for directors’ retirement benefits

107

100

Net defined benefit liability

4,806

4,860

Asset retirement obligations
Other304
10,534315
9,406

Total non-current liabilities
Total liabilities

45,532133,050

52,382
145,658

Capital stock
Capital surplus

23,344
13,454

23,344
13,454Retained earnings

13,514

12,592

Treasury shares

(988)

(988)

49,325

48,403

2,509
1

1,133
8

Revaluation reserve for land

12,401

12,686

Foreign currency translation adjustment

1,425

1,087

Remeasurements of defined benefit plans

717

981

Net assets
Shareholders’ equity

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

17,055

15,896

Subscription rights to shares

Total accumulated other comprehensive income

91

91

Non-controlling interests

1,626

1,588

Total net assets
Total liabilities and net assets

68,099201,149

65,979211,637-5-(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income
For the Three Months Ended June 30, 2015 and March 31, 2016
1Q of FY ended
December 31, 2015
(Apr. 1, 2015–
Jun. 30, 2015)(Millions of yen)
1Q of FY ending
December 31, 2016
(Jan. 1, 2016–
Mar. 31, 2016)

Net sales

34,21437,671

Cost of sales

22,811

27,211Gross profit

11,403

10,460

Selling, general and administrative expenses

11,136

10,854267(394)

Interest income

3440

Dividend income

125

21

Foreign exchange gains

156

―

Other

192

211

Total non-operating income

509

273

Interest expenses

200

159

Share of loss of entities accounted for using equity method

82

100

Foreign exchange losses

―

192

Other

95

90

Total non-operating expenses

379

542

397(663)

Operating income (loss)
Non-operating income

Non-operating expenses

Ordinary income (loss)
Extraordinary income
Gain on sales of non-current assets

1120

Gain on sales of investment securities

213375

6―

232

395

Loss on sales and retirement of non-current assets

37

10Impairment loss―

40

Total extraordinary losses

3750

Income (loss) before income taxes

591

(318)

Income taxes-current

239

472

Income taxes-deferred

236

(178)

Total income taxes

475

293

Profit (loss)

116

(612)

Loss attributable to non-controlling interests

(17)

(29)

Profit (loss) attributable to owners of parent

134

(583)

Compensation income
Total extraordinary income
Extraordinary losses-6-Consolidated Statements of Comprehensive Income
For the Three Months Ended June 30, 2015 and March 31, 2016
1Q of FY ended
December 31, 2015
(Apr. 1, 2015–
Jun. 30, 2015)(Millions of yen)
1Q of FY ending
December 31, 2016
(Jan. 1, 2016–
Mar. 31, 2016)

116

(612)

Valuation difference on available-for-sale securities

211(1,378)Deferred gains or losses on hedges―

7

Revaluation reserve for land―

284

(150)

(121)

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity method(5)264

5(221)

Total other comprehensive income

60(1,165)177(1,777)193(1,742)

(16)

(35)

Profit (loss)
Other comprehensive income

Foreign currency translation adjustment

Comprehensive income(Comprehensive income attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests-7-(3) Notes Regarding the Consolidated Financial Statements(Notes Regarding the Going Concern Assumption)
Not applicable(Notes Regarding Significant Changes in Shareholders’ Equity)
Not applicable(Significant Subsequent Events)(Regarding the impact of the 2016 Kumamoto Earthquake)
Due to the 2016 Kumamoto Earthquake that occurred on and after April 14, 2016, damages were caused at theCompany’s Kumamoto Office, and at facilities of Iseki-Kyushu Co., Ltd. and Iseki-Kumamoto Mfg. Co., Ltd.,the Company’s consolidated subsidiaries.
We are currently assessing the damage and cost of restoration, and their impact on business performance has
not been confirmed.

-8-