Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Third Quarter of Fiscal 2009 ended March 31, 2009
February 12, 2009
Company:
Stock code:
URL:

Taiheiyo Cement Corporation5233
http://www.taiheiyo-cement.co.jp/

Fiscal 2008 3Q:
Fiscal 2008:
Fiscal 2009 3Q:
Fiscal 2009:

April 1, 2007-December 31,2007
April 1, 2007-March 31, 2008
April 1, 2008-December 31, 2008
April 1, 2008-March 31, 2009

The accompanying consolidated financial results are not intended to present the financial results in accordancewith accounting principles and practices generally accepted in countries and jurisdictions other than Japan.
(All yen figures are rounded down to the nearest one million yen.)

1. Consolidated Financial Results for the Third Quarter of Fiscal 2009 (April 1, 2008 through December 31,2008)(1) Operating Results
3Q FY3/09
3Q FY3/08

Net Sales
Millions of Yen
662,921697,891

%
––0.0

EPS

Ordinary income
Net income
Millions of Yen% Millions of Yen%–2,472––21,931–33,372 –32.2
18,866–7.2

Diluted EPS
Yen–18.61

Yen–23.3720.13

3Q FY3/09
3Q FY3/08

Operating income
Millions of Yen%
8,893–
39,257 –28.8(2) Financial Position
Total assets
Millions of Yen
1,268,370
1,218,033

3Q FY3/09
FY3/08

Total net assets
Millions of Yen
258,303
327,589

Equity ratio

Equity per shareYen
235.23308.82

%
17.4
23.8

2. Dividends
1Q
FY3/08
FY3/09
FY3/09(forecast)

Dividend per share
3Q

2Q

4Q

Total

Yen

Yen

Yen

Yen

Yen

————

2.00
2.00
——

————

3.00
——
0.00

5.00
——
2.00

3. Consolidated Results Forecast for the Fiscal Year Ending March 31, 2009
Net sales
Millions of Yen

FY3/09880,000

Operating income%–5.1

Millions of Yen

9,000%–82.5

Ordinary income
Millions of Yen–6,000%—Net income
Millions of Yen–28,000

EPS%—Yen–29.83

This forecast is based on the information available at the date of publication of this material and assumptions at the same datewith respect to the various factors which might have impact on the future financial results. Actual results may differ
materially from this forecast due to various factors.

Page 1 of 7

Consolidated Balance Sheets
All yen figures are rounded down to the nearest one million yen.

Item
AssetsCurrent assets
Cash and time deposits
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
A. Property, plant and equipment
Buildings and structures, net
Machinery, equipment, net
Land
Other, net
B. Intangible assets
Goodwill
Other
C. Investments and other assets
Investments in securities
OtherAllowance for doubtful accounts
Total non-current assets
Total assets

3Q FY3/09(As of 12/31/08)(Millions of Yen)
FY3/08(As of 3/31/08)

81,557214,769
39,33820,64850,977
43,112–1,655448,748

64,465
189,559
35,744
8,688
41,58639,228–1,425
377,848

177,361
161,072
174,486
60,891
573,811

188,411
172,317
166,092
44,228571,049

25,781
37,914
63,69522,67927,82050,499113,547
79,533–10,965
182,115
819,622
1,268,370

152,647
77,109–11,120
218,635
840,184
1,218,033

Page 2 of 7

All yen figures are rounded down to the nearest one million yen.

Item
Liabilities
Current liabilities
Notes and accounts payableShort-term loans payable
Commercial papers
Current portion of bonds
Accrued income taxes
Reserve for bonuses
Reserve for directors’ bonuses
Other reserves
Other
Total current liabilities
Non-current liabilities
Bonds payable
Bonds with subscription rights to shares
Long-term loans payable
Reserve for retirement benefits
Reserve for directors’ retirement benefits
Reserve for loss on business of subsidiaries andaffiliates
Reserve for special repairs
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Additional paid-in capital
Retained earnings
Treasury stock, at cost
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Accumulated other comprehensive losses
Total valuation and translation adjustments
Minority interests
Net assets
Liabilities and net assets(Millions of Yen)
3Q FY3/09
FY3/08(As of 12/31/08)(As of 3/31/08)

110,871322,445
22,000
512
3,435
3,855
18819
80,040543,999

109,114284,104
19,000
1,227
4,036
7,046
53
787
63,338
488,710

72,62534,145244,184
34,656996

72,997
34,167
178,740
35,319
1,453

138

138

349
78,970466,068
1,010,067

315
78,600401,733
890,443

69,49960,742
103,138–1,699231,681

69,49960,756
142,923–1,689271,489

7,688

10,352–202
4,558–21,182–1,790–10,928
37,550258,303
1,268,370

–45
4,594
5,469
–1,971
18,39937,701
327,589
1,218,033

Page 3 of 7

Consolidated Statements of Income
All yen figures are rounded down to the nearest one million yen.

ItemNet sales(Millions of Yen)
3Q FY3/09(4/1/08–12/31/08)
662,921

Cost of sales

545,234

Gross profit

117,687

Selling, general and administrative expenses

108,793

Operating income

8,893

Non-operating income
Interest income

853

Dividends income

1,049

Other

2,875

Total non-operating income

4,777

Non-operating expenses
Interest expenses

8,018

Equity in losses of affiliates

5,849

Other

2,275

Total non-operating expenses
Ordinary loss

16,143–2,472Extraordinary income
Gain on disposal of non-current assets

1,678Gain on sales of investment securities

665

Other
Total extraordinary income
Extraordinary loss
Loss on disposal of non-current assets
Loss on impairment of fixed assets

352
2,695
1,637893

Loss on valuation of investment securities

6,274

Amortization of goodwill in equity

4,491

Other

3,625

Total extraordinary loss
Loss before income taxes

16,922–16,699

Income taxes-current

5,977

Income taxes-differed–2,291

Total income taxes

3,686

Minority interests in income

1,545

Net loss–21,931

Page 4 of 7Consolidated Statements of Cash FlowsAll yen figures are rounded down to the nearest one million yen.

ItemIII(Millions of Yen)
3Q FY3/09
4/1/08 –12/31/08

Cash flows from operating activities
Loss before income taxes
Depreciation and amortization
Amortization of goodwill
Equity in losses of affiliates
Loss on valuation of investment securities
Amortization of goodwill in equity
Decrease in reserve for retirement benefits
Decrease in reserve for directors’ retirement benefits
Decrease in reserve for bonuses
Decrease in reserve for directors’ bonuses
Increase in allowance for doubtful accounts
Decrease in other reserves
Interest and dividends income received
Interest expenses paid
Gain on sales and valuation of investment securities
Loss on liquidation of subsidiaries and affiliates
Gain on disposal of non-current assets
Loss on impairment of fixed assets
Increase in notes and accounts receivable-trade
Increase in inventories
Increase in notes and accounts payable-trade
Other
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid

–16,699
37,861
2,172
5,849
6,274
4,491
–1,343–456–3,104–35
286–72–1,902
8,018–656
158
–41
893
–24,779–26,517
712
9,383
493
1,889
–8,148–5,740Net cash provided by operating activities–11,505

Cash flows from investing activities
Decrease in time deposits
Purchase of non-current assets
Proceeds from sale of non-current assets
Purchase of investment securities
Proceeds from sales of investment securities
Payments for acquisition of newly consolidated
subsidiaries
Payments of loans receivableCollection of loans receivable
Other, net
Net cash used in investing activities

623–36,751
4,879–2,816
1,881–48,489–4,795
3,906
1,270–80,290

III Cash flows from financing activities
Increase in short-term loans payable
Increase in commercial papers
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Proceeds from issuance of common stock
Proceeds from sales of treasury stock
Cash dividends paid
Cash dividends paid to minority shareholders
Other, net
Net cash provided by financing activities

46,1383,000
113,096–46,515–1,1262,201
22–4,668–833–177
111,136

IV Effect of exchange rate changes on cash and cash equivalents
V Increase in cash and cash equivalents
VI Cash and cash equivalents at beginning of the fiscal year

–1,802
17,53860,051

VII Decrease in cash and cash equivalents resulting from changeof scope of consolidation–195

VIII Cash and cash equivalents at end of the period

77,394
Page 5 of 7

Segment Information
All yen figures are rounded down to the nearest one million yen.

[Industry Segments](Millions of Yen)

MineralCementResources
Business
Business
Sales and operating
incomeSales(1) Sales to404,432
outsidecustomers(2) Intersegment
sales and10,104transfers
Total414,536
Operating
2,608
income/loss

Environmental
Business

3Q FY3/09 (4/1/08 – 12/31/08)
Construction Ceramics &Materials Electronics Other
Business
Business

Eliminations
Consolidated
or corporate
total
assetsTotal

64,171

46,086

71,93523,79352,503662,921—662,921

15,200

5,059

5,993

79

32,08968,525(68,525)—

79,371

51,14577,92823,872

84,592

731,447(68,525)

662,921

1,625

2,601

495

–971

2,778

9,137

(244)

8,893

All yen figures are rounded down to the nearest one million yen.

[Geographic segments](Millions of Yen)
3Q FY3/09 (4/1/08 – 12/31/08)

Japan
Sales and operating
incomeSales(1) Sales tooutside
customers(2) Intersegment
sales andtransfers
Total
OperatingincomeNorth America

Asia

Other

Eliminations
Consolidated
or corporate
total
assetsTotal

536,172

76,17347,282

3,293

662,921—662,921

3,419

—

3,848

1

7,269

(7,269)—539,592

76,173

51,1303,294

670,191(7,269)662,921

2,918

1,864

4,570

418

9,771

(878)

8,893

Overseas sales
All yen figures are rounded down to the nearest one million yen.

IOverseas sales
II Consolidated sales
III Ratio of overseas sales to consolidated sales

North America
76,365—
11.5%(Millions of Yen)
3Q FY3/09 (4/1/08 – 12/31/08)
Asia
OtherTotal
51,802
13,767
141,935——
662,921
7.8%
2.1%
21.4%

Page 6 of 7

Reference
3Q FY3/08 (4/1/2007 – 12/31/2007) Consolidated Financial Statement(1) 3Q FY3/08

Consolidated Statement of Income
All yen figures are rounded down to the nearest one million yen.

(Millions of Yen)
3Q FY3/08
4/1/07 –12/31/07
697,891
550,641
147,249
107,992
39,257
6,892
12,77633,372–107
33,264
12,492–2,252
1,835
2,322
18,866

ItemIIIIIIIVVVINet sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Non-operating expenses
Ordinary income
Extraordinary income and loss
Income before income taxes
Income taxes-current
Income taxes for prior periods
Income taxes-differed
Minority interests in income
Net income

All yen figures are rounded down to the nearest one million yen.

(2) 3Q FY3/08 Industry segments

Sales
Operatingexpenses
Operating
Income/loss(Millions of Yen)

3Q FY3/08 (4/1/07 – 12/31/07)
MineralConstruction Ceramics &Cement
Environmental
Resources
Materials Electronics Other
Business
Business
Business
Business
Business
437,926
78,14949,841
71,20446,454 86,590

Eliminations
Consolidated
or corporate
total
assets
770,166(72,274)
697,891

406,723

75,36547,14071,76446,73582,412

730,141(71,507)658,634

31,203

2,783

2,701

–560

–281

4,178

40,024(767)39,257

Total

Page 7 of 7