July 31, 2008

First-Quarter Consolidated Earnings Report for Fiscal 2009, Ending March 31, 2009This report is an English translation of the First-Quarter Consolidated Earnings Report (Japanese) that was released in Japanon July 31, 2008.

Company name: Ryobi Limited
http://www.ryobi-group.co.jp
Stock listing: First Section, Tokyo Stock Exchange
Securities code: 5851
Representative: Susumu Yoshikawa, President and COO
Inquiries: Takao Tanaka, Director and Executive Corporate Officer, Finance Department
Tel: +81-3-3501-0511
Scheduled filing date of quarterly earnings report: August 8, 2008
(Millions of yen rounded down)
1. Consolidated Operating Results for the First Quarter of Fiscal 2009
(April 1, 2008 to June 30, 2008)(1) Consolidated Operating Results (Cumulative)(% figures represent year-on-year increase or decrease)
Net Sales

Operating Income

Ordinary Income

Net Income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

First Quarter Fiscal 2009

50,596

―

1,528

―

1,679

―

1,044

―

First Quarter Fiscal 2008

51,618

9.0

3,262

-10.7

3,493

-5.7

2,082

-23.7

Net Income
per Share

Net Income per
Share after Dilution
Yen

Yen

First Quarter Fiscal 2009

6.26

—

First Quarter Fiscal 2008

12.41

—

(2) Consolidated Financial Position
Total Assets

Shareholders’Equity Ratio

Net Assets

Net Assets
per Share%

Millions of yen

Millions of yen

June 30, 2008

193,415

76,03538.9

450.67

March 31, 2008

195,971

77,71839.2

460.79Jun. 30, 2008:
Mar. 31, 2008:

75,157 million yen
76,844 million yen(Reference)
Shareholders’ equity:

Yen

2. Dividends
Dividends per Share
(Record Date)

Jun. 30

Sep. 30

Dec. 31Mar. 31Annual

Yen

Yen

Yen

Yen

Yen

Fiscal 2008

—

6.00

—

6.00

12.00

Fiscal 2009

—
6.00

—

6.00

12.00

Fiscal 2009
(Forecast)

Note: Revision to dividend forecast for the first quarter of the fiscal year ending March 31, 2009: No
1

3. Forecasts of Consolidated Operating Results for the Fiscal Year Ending March 31, 2009 (April 1,2008 to March 31, 2009)(% figures represent year-on-year increase or decrease)
Net Income
Ordinary Income
Net Income
per Share

Operating
IncomeNet Sales
Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

Cumulative
Second Quarter

106,000

―

3,900

―

3,600

―

2,200

―

13.19

Full Fiscal Year

216,500

0.1

10,500-26.2

10,000

-27.9

5,900

-28.1

35.38

Note: Revisions to consolidated operating forecasts for the first quarter of the fiscal year ending March 31,
2009: No
4. Other(1) Changes in Important Subsidiaries during the Period (Changes in Special Subsidiaries
Involving Changes in the Scope of Consolidation):No(2) Application of the Simplified Accounting Method and Special Accounting Practices in the
Preparation of Quarterly Consolidated Financial Statements:
Yes
Note: Please refer to “Qualitative Information / Financial Statements and Other” 4. Other on page
4 for details.
(3) Changes in Accounting Principles, Procedures and Presentation Methods in Connection with
the Preparation of Quarterly Consolidated Financial Statements
a. Changes accompanying revisions to accounting standards: Yes
b. Changes in items other than a. above: Yes
Note: Please refer to “Qualitative Information / Financial Statements and Other” 4. Other on page
4 for details.
(4) Number of Shares Issued and Outstanding (Common Stock)a. Total number of shares issued and outstanding (including treasury stock) as of theperiod-end:
Jun. 30, 2008 171,230,715 sharesMar. 31, 2008 171,230,715 sharesb. Total number of treasury stock as of the period-end:
Jun. 30, 2008
4,464,609 sharesMar. 31, 2008 4,462,347sharesc.

Average number of shares for the period (Cumulative total for the quarterly consolidated
period)First quarter fiscal 2009
166,767,317 sharesFirst quarter fiscal 2008
167,771,501 shares

Cautionary Statement Concerning Operating Results Forecasts and Other Special Items[Regarding the use of operating results forecasts]
1. The aforementioned forecasts were made based on information available to management as of the dateof this report. Actual results could differ significantly from forecasts due to a variety of factors. For
items concerning operating results forecasts, please refer to “Qualitative Information / Financial
Statements and Other” on page 4, 3. Qualitative Information Concerning Forecasts of Consolidated
Operating Results.
2. No revisions have been made to the Announcement Concerning Consolidated Operating Results
Forecasts on May 9, 2008.
3. Effective from the fiscal year ending March 31, 2009, Ryobi Group has applied the AccountingStandard for Quarterly Financial Reporting Statement No. 12 issued by the Accounting Standards
Board of Japan (ASBJ) on March 14, 2007 and the Guidance on Accounting Standard for Quarterly
Financial Reporting Guidance No. 14 issued by the ASBJ on March 14, 2007. Furthermore, quarterly
consolidated financial statements have been prepared in accordance with the Regulation for Quarterly
Consolidated Financial Reporting.

2

[Qualitative Information / Financial Statements and Other]
1. Qualitative Information Concerning Consolidated Operating Results for the First
Quarter of Fiscal 2009
During the first quarter of fiscal 2009 (April 1, 2008 to June 30, 2008), downward pressure continued
to mount on the Japanese economy resulting from such factors as a sharp rise in prices for crude oil andraw materials, as well as instability in the stock and currency exchange markets. Severe operating
conditions both domestically and overseas were a result of such factors as the prolonged disruption in
financial markets stemming from the subprime loan crisis and the economic downturn in the UnitedStates.
In this business environment, together with promoting aggressive sales activities, Ryobi Limited and its
significant subsidiaries (“the Ryobi Group”) have implemented various measures that include thedevelopment of new products responsive to users’ needs, reduction of costs and expenses, andenhanced operational efficiency.
As of the end of the first quarter, revenue and earnings declined compared with the corresponding
period of the previous fiscal year.
Based on these factors, net sales for the first quarter totaled ¥50,596 million, a 2.0% decline comparedwith the first quarter of the previous fiscal year, while operating income dropped 53.1% to ¥1,528
million, ordinary income fell 51.9% to ¥1,679 million and net income for the quarter decreased 49.8%
to ¥1,044 million. Although efforts have been made to increase sales, reduce costs and improve
productivity, earnings declined due to such factors as steep rises in raw material prices and theincreased burden of depreciation and amortization.
Examining sales by industry segment, the Die Castings Business increased 3.4% to ¥36,141 million,
the Printing Equipment Business decreased 19.2% to ¥7,878 million, and the Power Tools andBuilders’ Hardware Business dipped 5.1% to ¥6,575 million. Regarding operating income, the Die
Castings Business fell 22.3% to ¥1,243 million, the Printing Equipment Business dropped 94.5% to¥62 million, and the Power Tools and Builders’ Hardware Business decreased 57.7% to ¥222 million.
The Die Castings Business enjoyed gains in revenue as a result of steady sales to domestic automobile
manufacturers; however, earnings fell due to such factors as the increased burden of depreciation andamortization. The Printing Equipment Business experienced declines in revenue and earnings
stemming from unfavorable export conditions in Europe and the Americas, as well as disappointing
sales figures domestically. The Power Tools and Builders’ Hardware Business experienced a drop inrevenue and earnings for both power tool and builders’ hardware products as a result of severe sales
competition and sluggish growth in the number of housing starts.

2. Qualitative Information Concerning Consolidated Financial Position for the End of
the First Quarter of Fiscal 2009
Total assets as of June 30, 2008 stood at ¥193,415 million, a decrease of ¥2,556 million compared withthe end of the previous fiscal year. This was due to a reduction in current assets such as finishedproducts and purchased goods, and work in process, as well as an increase in fixed assets such as
property, plant and equipment.
Liabilities decreased ¥872 million to ¥117,379 million due to a decline in income taxes payable.
Interest-bearing debt, excluding discounted notes receivable and lease obligations, increased ¥561
3

million to ¥45,719 million compared with the end of the previous fiscal year.
Net Assets dropped ¥1,683 million from the end of the previous term to ¥76,035 million. Contributing
factors include a declared increase of ¥1,044 million in quarterly net income and dividend payments of¥1,000 million. Also included is a decline in line with past goodwill adjustments as a result of unified
accounting procedures for subsidiaries outside Japan. Shareholders’ equity, subtracting minority
interests from net assets, amounted to ¥75,157 million and shareholders’ equity stood at 38.9%.

3. Qualitative Information Concerning Forecasts of Consolidated Operating Results for
the Fiscal Year Ending March 31, 2009
Steep rises in crude oil and raw material prices, sluggish economic conditions in the United States,
fluctuations in exchange and interest rates, and other risks that impact the economy are increasing,leading to heightened uncertainty in the overall business environment. Amidst these severe operating
conditions, the Ryobi Group is focusing on expanding net sales, reducing costs and improving
productivity even further, and enhancing operational efficiency.
Operating results forecasts for the fiscal year ending March 31, 2009 remain unchanged since the May
9, 2008 announcement of earning results for the fiscal year ended March 31, 2008.

4. Other(1) Changes in Important Subsidiaries during the Period (Changes in Special Subsidiaries
Involving Changes in the Scope of Consolidation):
None(2) Application of the Simplified Accounting Method and Special Accounting Practices in the
Preparation of Quarterly Consolidated Financial Statements:(Simplified Accounting Method)a. Calculation method for estimating future credit write-offs of normal receivables
Recognizing that no significant changes have arisen with regard to the estimated bad debt
write-off ratios at the end of the previous consolidated fiscal year, the actual bad debt write-off
ratio as of March 31, 2008 has been used to calculate estimated future credit write-offs ofnormal receivables.
b. Valuation methods for inventories
With respect to the calculation of inventory at the end of the consolidated first quarter of the
fiscal year ending March 31 2009, a portion of the physical inventory is omitted and areasonable method is used based on the previous consolidated fiscal year’s physical inventory.
(Special Accounting Practices in the Preparation of Quarterly Consolidated Financial Statements)
Tax expenses are calculated by reasonably estimating the effective tax rate after the application of
tax accounting on income before income taxes and minority interests in the consolidated fiscal year,
including the first quarter of the fiscal year ending March 31, 2009, and multiplying income before
income taxes and minority interests for the first quarter of the fiscal year ending March 31, 2009by said estimated effective tax rate. The adjusted amount for income tax is shown to include
income taxes.

4(3) Changes in Accounting Principles, Procedures and Presentation Methods in Connection with
the Preparation of Quarterly Consolidated Financial Statements:(Changes Accompanying Revisions to Accounting Standards)
a. Effective from the first quarter of the fiscal year ending March 31, 2009, the Ryobi Group has
applied the Accounting Standard for Quarterly Financial Reporting Statement No. 12 issued by
the Accounting Standards Board of Japan (ASBJ) on March 14, 2007, as well as the Guidanceon Accounting Standard for Quarterly Financial Reporting Guidance No. 14 issued by the
ASBJ on March 14, 2007. Furthermore, quarterly consolidated financial statements have been
prepared in accordance with the Regulation for Quarterly Consolidated Financial Reporting.
b. In connection with inventories held for sale in the ordinary course of business, the Ryobi
Group had mainly adopted the average method. Effective from the first quarter of the fiscal
year ending March 31, 2009, the Ryobi Group has adopted ASBJ Statement No. 9“Accounting Standard for the Measurement of Inventories.” As a result, inventories are inprinciple stated at cost, cost being determined by the average method (with book values
written down due to decreased profitability of balance sheet inventories held for sale in theordinary course of business).
Taking into consideration this change in accounting standard, and in comparison with theprevious method, operating income, ordinary income, and income before income taxes andminority interests each declined by ¥134 million.
c.

Practical solution on unification of accounting standards applied to foreign subsidiaries forconsolidated financial statements
From a consolidated account settlement perspective, the Ryobi Group has undertaken all
essential adjustments following adoption of the Practical Issues Task Force No. 18 “Practical
Solution on Unification of Accounting Policies Applied to Foreign Subsidiaries for
Consolidated Financial Statements” issued by the ASBJ on May 17, 2006 from the firstquarter of the fiscal year ending March 31, 2009.
Regarding the consolidated balance sheet for the quarter, taking into consideration this changein accounting standards, retained earnings decreased ¥785 million, but only had a slight
impact on consolidated operating income, ordinary income, and income before income taxes
and minority interests during first quarter of the fiscal year ending March 31, 2009.

d. Application of accounting standards for lease transactions
From the first quarter of the fiscal year ending March 31, 2009, the Ryobi Group adopted the“Accounting Standard for Lease Transactions” (ASBJ Statement No. 13 issued on June 17,1993 and last revised on March 30, 2007) and the “Guidance on Accounting Standard forLease Transactions” (ASBJ Guidance No. 16 issued on January 18, 1994 and last revised on
March 30, 2007). Accordingly, the method of accounting for finance leases that do not transfer
ownership changed from treating such leases as rental transactions to treatment assale/purchase transactions, recognizing them as lease assets. Depreciation equivalent iscomputed on a straight-line method over the lease period without residual value.
Based on this change in accounting standards on cumulative totals during the first quarter ofthe fiscal year ending March 31, 2009, operating income and ordinary income, each increasedby ¥18 million and ¥5 million respectively, while net quarterly income before income taxes
and minority interests decreased by ¥100 million.

5e.

Changes in the classification of die casting dies
Applying unified accounting procedures to subsidiaries outside Japan for the presentation ofquarterly consolidated financial statements, we revised the classification of Ryobi Limited andits subsidiaries’ die casting dies, redistributing a portion of die castings dies from inventories
to fixed assets.
This change in this accounting standard had no affect on operating income, ordinary income,and income before income taxes and minority interests during the first quarter of the fiscal
year ending March 31, 2009. Based on the consolidated balance sheets for the first quarter ofthe current fiscal year finished products and purchased goods decreased ¥2,962 million at the
beginning of the term, while other fixed assets in property, plant and equipment increased thesame amount. Work in process decreased ¥3,055 million, while construction in progressincreased the same amount.

(Additional Information)
As a result of reviewing its use of assets and other factors in the wake of revisions to the
Corporate Tax Law, the Ryobi Group and its domestic subsidiaries have changed the useful life ofmachinery and equipment from 4 to 13 years to 4 to 12 years beginning from the first quarter ofthe fiscal year ending March 31, 2009.
Taking into consideration this change in accounting standards, operating income fell ¥209 million,
while ordinary income and income before income taxes and minority interests each decreased¥233 million respectively during the first quarter of the fiscal year ending March 31, 2009.

6

5. Consolidated Financial Statements for the First Quarter of the Fiscal Year Ending
March 31, 2009
(1) First Quarter Consolidated Balance Sheets
June 30, 2008ASSETS
Current assets:
Cash and cash equivalents
Notes and accounts receivable
Marketable securities
Finished products and purchased goods
Work in process
Raw materials and supplies
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets:
Property, plant and equipment:
Buildings and structures (net)
Machinery and equipment (net)Land
Construction in progress
Other fixed assets (net)Total property, plant and equipment
Intangible fixed assets:
Goodwill
Other intangible fixed assets
Total intangible fixed assets
Investments and other assets:
Investment in securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets

7(Millions of yen)March 31, 2008

8,400
41,9442,718
17,004
11,085
8,497
4,334
(60)
93,924

8,925
43,292
3,514
19,991
14,312
7,552
4,644
(61)
102,171

19,665
26,90921,665
7,037
7,247
82,526

20,791
29,411
21,6992,621
2,639
77,163

126
1,278
1,404

946
1,308
2,254

11,932
3,674(46)
15,56099,491
193,415

10,6493,776(43)
14,38293,800195,971

(Millions of yen)March 31, 2008

June 30, 2008
LIABILITIESCurrent liabilities:
Notes and accounts payable
Short-term borrowings
Current portion of long-term debt
Income taxes payable
Accrued bonuses
Other current liabilities
Total current liabilities
Long-term liabilities:
Long-term debt
Accrued severance indemnities
Other long-term liabilities
Total long-term liabilities
Total liabilities:
NET ASSETS
Shareholders’ equity:
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Valuation and translation adjustments:
Unrealized gain on available-for-salesecurities
Deferred loss on derivatives under hedge
accounting
Land revaluation reserve
Foreign currency translation adjustments
Total valuation and translation adjustments
Minority interests
Total net assets
Total liabilities and net assets

842,283
22,818
7,396
607
795
15,073
88,976

43,57021,490
6,002
2,049
2,192
13,76089,066

15,5036,309
6,590
28,403
117,379

17,6636,320
5,202
29,186
118,252

18,472
23,75038,493(1,426)
79,28918,472
23,75039,234(1,425)80,031

3,818

3,094

(21)

(40)

626
(8,555)(4,132)878
76,035
193,415626(6,867)(3,187)874
77,718
195,971(2) First Quarter Consolidated Statements of Income

Net sales
Cost of Sales
Gross Profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Rental income
Exchange gain
Gain on sales scrap
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Cash discounts
Depreciation expenses
Miscellaneous expenses
Total non-operating expenses
Ordinary income
Extraordinary income
Gains on fixed assets
Gains of golf course membership sales
Total extraordinary income
Extraordinary losses
Loss on disposal of property, plant and equipment
Cumulative effect of lease accounting standards application
Total extraordinary losses
Income before income taxes and minority interests
Income taxes
Loss of minority interests
Net income for the quarter

9(Millions of yen)First Quarter of the
Fiscal Year Ending March 31,
2009
50,59642,868
7,728
6,199
1,528
12
98
161
168
41
161
644
281
40
107
63
494
1,679
0
1
1
28
106
135
1,545
513
(12)
1,044

(3) First Quarter Consolidated Statements of Cash Flows(Millions of yen)First Quarter of the
Fiscal Year Ending March 31,
2009
Cash flows from operating activities:
Income before income taxes and minority interests
Depreciation and amortization
Increase in allowance for doubtful accounts
Decrease in reserve for bonuses
Decrease in accrued severance indemnities
Interest and dividend income
Interest expense
Loss on sale and disposal of property, plant and equipment
Decrease in notes and accounts receivable
Increase in inventories
Decrease in other current assets
Decrease in notes and accounts payable
Other increases in current liabilities
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by operating activities
Cash flows from investing activities:
Payment for purchases of property, plant and equipment
Proceeds from sale of property, plant and equipment
Payment for purchase of investment in securities
Payment for time deposits
Proceeds from repayment of time deposit
Other
Net cash used in investing activities
Cash flows from financing activities:
Increase in short-term borrowings, net
Repayment of long-term debt
Acquisition of treasury stock
Cash dividends paid
Cash dividends paid to minority shareholders
Other
Net cash provided by financing activities
Foreign currency translation adjustments on cash and cash
equivalents
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of the period

10

1,545
3,382
2
(1,396)
(10)
(111)
281
28
837
(1,168)
120
(652)
3,412
(211)
6,062
114
(282)
(2,028)3,865(5,470)
1
(53)
(24)
266
(51)
(5,331)
2,005
(472)
(0)
(1,000)
(0)
(115)
415
(27)
(1,078)
10,1389,060

Effective from the fiscal year ending March 31, 2009, the Ryobi Group has applied the AccountingStandard for Quarterly Financial Reporting “(Statement No. 12 issued by the Accounting Standards
Board of Japan (ASBJ)) on March 14, 2007 and the Guidance on Accounting Standard for Quarterly
Financial Reporting “(Guidance No. 14 issued by the ASBJ) on March 14, 2007. Furthermore, quarterly
consolidated financial statements have been prepared in accordance with the Regulation for Quarterly
Consolidated Financial Reporting.

(4) Notes Regarding Going Concern Assumptions
None.
(5) Segment Informationa.

Industry Segment Information
For the First Quarter of the Fiscal Year Ending March 31, 2009 (April 1, 2008 to June 30,
2008)(Millions of yen)
Die
Castings

Printing
Equipment

Power Tools
and Builders’HardwareSales:(1) UnaffiliatedCustomers(2) Intersegment

36,141

7,878

6,575

33

―

Total

36,175

Operating Income

1,243

Notes:
1.
2.

Total

Eliminations

Consolidated

50,596―50,596

0

34

(34)

―

7,878

6,575

50,630(34)

50,596

62

222

1,528

0

1,528

Industry segments are classified on the basis of organization.
Main products of each industry segment:
Die Castings: die cast product and aluminum cast
Printing Equipment: offset printing presses, peripherals, etc.
Power Tools and Builders’ Hardware: power tools, lawn and garden equipment, door closers,
hinges and architectural hardware

11

b.

Geographical Segment Information
For the First Quarter of the Fiscal Year Ending March 31, 2009 (April 1, 2008 to June 30,
2008)(Millions of yen)
Japan

The
Americas

Other

Total

Eliminations

Consolidated

Sales:(1) UnaffiliatedCustomers(2) Intersegment

42,239

6,233

2,123

50,596―50,596

344

―

1,733

2,077

(2,077)―

Total

42,583

6,233

3,856

52,673(2,077)50,596

Operating Income

1,280

299

25

1,605

(76)

1,528

Notes:
1. Country and regional segments are classified on the basis of geographic proximity.
2. Principal countries and regions:(1) The Americas: United States, Mexico(2) Other: United Kingdom, Chinac.

Overseas Sales
For the First Quarter of the Fiscal Year Ending March 31, 2009 (April 1, 2008 to June 30,
2008)(Millions of yen)
The Americas

Overseas Sales

Europe

7,626

Other

5,021

Total

2,428

50,596

Consolidated Net Sales
Ratio of Overseas Sales toConsolidated Net Sales (%)

15,076

15.1

9.9

4.8

29.8

Notes:
1. Country and regional segments are classified on the basis of geographic proximity.
2. Principal countries and regions:(1) The Americas: United States, Mexico, other(2) Europe: United Kingdom, Germany, other(3) Other: China, Australia, other
3. Overseas sales represent the total of export sales of the parent company and sales of its
consolidated subsidiaries outside Japan (excluding intra-group sales).
(6) Notes Regarding Substantial Changes in Shareholders’ Equity
None.

12

[Reference Material]
Financial Statements and Other Information for the First Quarter of the Fiscal Year
Ended March 31, 2008
(1) Summary of First Quarter Consolidated Statement of Income

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Non-operating expenses
Ordinary income
Extraordinary income
Extraordinary losses
Income before income taxes and minority interests
Income taxes
Loss of minority interests
Net income for the quarter

13(Millions of yen)First Quarter of the
Fiscal Year Ended March 31,
2008
51,61842,103
9,514
6,251
3,262
598
367
3,493
8
111
3,390
1,332
(24)
2,082

(2) Summary of First Quarter Consolidated Statement of Cash Flows(Millions of yen)First Quarter of the
Fiscal Year Ended March 31,
2008
Cash flows from operating activities:
Income before income taxes and minority interests
Depreciation and amortization
Decrease in notes and accounts receivable
Increase in inventories
Decrease in notes and accounts payable
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by operating activities
Cash flows from investing activities:
Payment for purchase of property, plant and equipment
Other
Net cash used in investing activities
Cash flows from financing activities:
Increase in short-term borrowings, net
Proceeds from long-term debt
Repayment of long-term debt
Cash dividends paid
Other
Net cash provided by financing activities
Foreign currency translation adjustments on cash and cash equivalents
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of the period

14

3,390
2,404
1,758
(2,877)
(318)
1,435
5,793
137
(213)
(5,207)510(5,331)(142)(5,474)
1,852
5,500
(699)
(2,013)
(2)
4,637
(6)
(333)
17,611
17,278

(3) Segment Informationa. Industry Segment Information
For the First Quarter of the Fiscal Year Ended March 31, 2008 (April 1, 2007 to June 30, 2007)(Millions of yen)
Die
Castings

Printing
Equipment

Power Tools
and Builders’HardwareSales:(1) UnaffiliatedCustomers(2) Intersegment

34,941

9,749

6,927

59

―

Total

35,000Operating Costs andExpenses
Operating Income

Notes:
1.
2.

Total

Eliminations

Consolidated

51,618―51,618

1

60

(60)

―

9,749

6,928

51,678(60)

51,61833,399

8,612

6,403

48,415(60)

48,355

1,601

1,136

525

3,262

0

3,262

Industry segments are classified on the basis of organization.
Main products of each industry segment:
Die Castings: die cast product and aluminum cast
Printing Equipment: offset printing presses, peripherals, etc.
Power Tools and Builders’ Hardware: power tools, lawn and garden equipment, door closers,
hinges and architectural hardware

15