Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the First Quarter of Fiscal 2010 ended March 31, 2010
August 11, 2009
Company:
Stock code:
URL:

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

Fiscal 2009 1Q:
Fiscal 2009:
Fiscal 2010 1Q:
Fiscal 2010 1H:
Fiscal 2010:

April 1, 2008-June 30,2008
April 1, 2008-March 31, 2009
April 1, 2009-June 30, 2009
April 1, 2009-September 30, 2009
April 1, 2009-March 31, 2010

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 First Quarter of Fiscal 2010 (April 1, 2009 through June 30, 2009)(1) Operating Results
1Q FY3/10
1Q FY3/09

Net Sales
Millions of Yen%
173,622 –14.2
202,372–
EPS

Ordinary income
Net income
Millions of Yen% Millions of Yen–8,245––8,798–6,410––8,636%––Diluted EPS
Yen––Yen
–9.38
–9.20

1Q FY3/10
1Q FY3/09Operating income
Millions of Yen%–3,878––1,356–(2) Financial Position
Total assets
Millions of Yen
1,160,177
1,158,086

1Q FY3/10
FY3/09Total net assets
Millions of Yen
222,242220,038

Equity ratio%
16.0
15.9

Equity per share
Yen
197.59195.802. Dividends
Dividend per share

FY3/09FY3/10FY3/10(forecast)

1Q

2Q

3Q

4Q

Yen

Yen

Yen

Yen

Total
Yen

——

2.00

—

0.00

2.00————————

3. Consolidated Results Forecast for the Fiscal 2010(April 1, 2009 through March 31, 2010)
Net sales

Operating income

1H FY3/10

390,000%–9.1

FY3/10820,000–5.9

Millions of Yen

Millions of Yen

Ordinary income
Millions of Yen

2,000%–55.6

24,000114.7

Net income
Millions of Yen–3,000%—16,000—EPS–2,500%—–2.66

8,500—

9.06

Yen

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

ItemAssets
Current assets
Cash and deposits
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Current assets
Non-current assets
A. Property, plant and equipment
Buildings and structures, net
Machinery, equipment, and vehicles, net
Land
Other, net
Property, plant and equipment
B. Intangible assets
Goodwill
Other
Intangible assets
C. Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Investments and other assets
Non-current assets
Assets1Q FY3/10(As of 6/30/09)(Millions of Yen)
FY3/09(As of 3/31/09)

74,214
157,385
41,530
10,571
44,21237,538–2,038363,41361,052
172,62136,75812,361
46,53838,287–1,961
365,659

172,582
152,063
174,756
64,252563,656

173,584
151,198
173,566
57,990556,339

21,95038,19660,146

21,34337,04958,392

100,518
81,957–9,515
172,960
796,763
1,160,177

103,153
84,072–9,530177,693
792,426
1,158,086

Page 2 of 6

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

ItemLiabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Commercial papers
Current portion of bonds
Income taxes payable
Provision for bonuses
Provision for directors’ bonuses
Provision for head office transfer cost
Provision for loss on transfer of business
Other provision
Other
Current liabilities
Non-current liabilities
Bonds payable
Bonds with subscription rights to shares
Long-term loans payable
Provision for retirement benefits
Provision for directors’ retirement benefitsProvision for loss on business of subsidiaries
and affiliates
Provision for special repairs
OtherNon-current liabilities
Liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
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
Valuation and translation adjustments
Minority interests
Net assets
Liabilities and net assets

1Q FY3/10(As of 6/30/09)(Millions of Yen)
FY3/09(As of 3/31/09)

84,723
287,746
37,00020,775
1,710
4,004
13
113
5,438
830
61,311
503,666

100,877
280,702
22,000
785
2,292
5,740
26
428
5,438
818
65,156484,266

53,311
34,130230,357
35,421
918

73,181
34,137
232,559
34,215
1,083

138

138

374
79,614434,267
937,934

361
78,104
453,780
938,047

69,49960,74480,945–1,709209,479

69,49960,74589,743–1,702
218,286

8,691

4,952

–58
4,559
–34,477–2,769–24,054
36,817222,242
1,160,177

–97
4,559
–41,379–2,567–34,531
36,284220,038
1,158,086

Page 3 of 6Consolidated Statements of Income
All yen figures are rounded down to the nearest one million yen.

ItemNet sales(Millions of Yen)
1Q FY3/09
1Q FY3/10(4/1/08–(4/1/09–6/30/08)
6/30/09)202,372
173,622

Cost of sales

167,411

145,783

Gross profit

34,96027,838Selling, general and administrative expenses

36,31731,717

Operating loss (–)–1,356–3,878Interest and income

286

169

Dividends income

229

734

1,020

1,132

1,537

2,037

Non-operating income

Other
Non-operating income
Non-operating expenses
Interest expenses

2,659

2,517

Equity in losses of affiliates

3,252

2,934

679

952

Other
Non-operating expenses

6,591

6,404

–6,410–8,245Gain on disposal of non-current assets

387

289

Gain on sales of investment securities

379

5169
935

148
443

Loss on disposal of non-current assets

656

140

Other

626

352

1,282

493

Loss before income taxes and minority interests (–)–6,757–8,294

Income taxes-current

1,690
81

1,404Income taxes-deferred
Income taxes

1,772

1,010

Ordinary loss (–)
Extraordinary income

Other
Extraordinary income
Extraordinary loss

Extraordinary loss

Minority interests in income and loss (–)
Net loss (–)

–393

107

–507

–8,636–8,798Page 4 of 6

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

ItemI(Millions of Yen)
1Q FY3/09
1Q FY3/10
4/1/08 –4/1/09 –6/30/08
6/30/09

Net cash provided by (used in) operating activities
Loss before income taxes and minority interestsDepreciation and amortization
Amortization of goodwill
Equity in losses of affiliates
Loss on valuation of short-term and long term investment
securities
Increase(decrease) in provision for retirement benefits
Decrease in provision for directors’ retirement benefits
Decrease in provision for bonuses
Decrease in provision for directors’ bonuses
Increase(decrease) in allowance for doubtful accounts
Increase(decrease) in other provisionInterest and dividends income
Interest expenses
Gain(loss) on sales of investment in securities
Loss on liquidation of subsidiaries and affiliates
Gain(loss) on disposal of non-current assets
Decrease(Increase) in notes and accounts receivable-trade
Decrease(Increase) in inventories
Decrease in notes and accounts payable-trade
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid

89

12–193–447–2,120
–41
–86
8
–516
2,659
–377
3
269
–1,617–13,714–5,111
1,664–10,875502–2,952–3,619104–164–1,737
–13
54
–88
–904
2,517
1
––149
16,544
1,005–16,772
–844
6,898
1,148
–3,164–2,288Net cash provided (used in) by operating activities–16,9452,594

523–12,993609–4,021
1,559–298–10,468
690
–74
5,152

–23,263––1,944597
2,641–36,292

–315
863
597
–3,852

37,16540,00029,752–25,855
–95
–
1,168
–
22
–2,824–745–
78,587–3,237
22,11160,051

7,117
15,0004,847–13,978
–130
250
––9
1
––277
269
13,0901,110
12,94256,299293–––12682,457

69,114

Net cash provided by (used in) investing activities
Decrease(increase) 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
Purchase of investments in subsidiaries resulting inchange in scope of consolidation
Payments of loans receivableCollection of loans receivable
Other, net
Net cash provided by (used in) investing activities
III Net cash provided (used in) financing activities
Net increase(decrease) in short-term loans payable
Net Increase(decrease) in commercial paper
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Proceeds from issuance of bonds
Proceeds from issuance of common stock
Purchase of treasury stock
Proceeds from sales of treasury stock
Cash dividends paid
Cash dividends paid to minority shareholders
Other, net
Net cash provided (used in) financing activities
IV Effect of exchange rate changes on cash and cash equivalents
V Net increase(decrease) in cash and cash equivalents
VI Cash and cash equivalents
VII Increase(decrease) in cash and cash equivalents resulting fromchange of scope of consolidation
VIII Decrease in cash and cash equivalents resulting from corporatedivision
IX Cash and cash equivalents at end of the period–6,757
11,463697
3,252–8,294
11,883
810
2,934

II

Page 5 of 6

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

[Industry Segments](Millions of Yen)

MineralCement
Resources
Business
Business
Sales and operating
incomeSales(1) Sales to107,214
outsidecustomers(2) Intersegment
sales and2,865
transfers
Total
110,080
Operating–3,473
incomeEnvironmental
Business

1Q FY3/10 (4/1/09 – 6/30/09)
Construction Ceramics &Materials Electronics Other
Business
BusinessEliminations
Consolidated
or corporate
total
assetsTotal

16,96912,191

20,4803,096

13,670173,622—

173,622

4,387

1,384

1,536

4

9,623

19,802(19,802)—21,356

13,57522,016

3,100

23,294

193,424(19,802)173,622

–123

739

414

–1,936631–3,748(130)–3,878All yen figures are rounded down to the nearest one million yen.

[Geographic segments](Millions of Yen)
1Q FY3/09 (4/1/09 – 6/30/09)

Japan
Sales and operating
incomeSales(1) Sales tooutsidecustomers(2) Intersegment
sales andtransfers
TotalOperating
incomeNorth America

Asia

Other

EliminationsConsolidated
or corporate
totalassets

Total

150,037

13,283

9,644

656

173,622—

173,622

1,160

—

550

—

1,710

(1,710)—151,198

13,283

10,194656

175,333(1,710)173,622–1,925–2,012–34

79–3,89314–3,878Overseas sales
All yen figures are rounded down to the nearest one million yen.

I
Overseas sales
II Consolidated sales
III Ratio of overseas sales to consolidated sales

North America
13,307—
7.7%(Millions of Yen)
1Q FY3/10 (4/1/09 – 6/30/09)
AsiaOther
Total
11,6683,777
28,752——
173,622
6.7%
2.2%
16.6%

Page 6 of 6