Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Third Quarter of Fiscal 2010 ended March 31, 2010
February 10, 2010
Company:
Stock code:
URL:

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

Fiscal 2009 3Q: April 1, 2008- December 31,2008
Fiscal 2009:
April 1, 2008-March 31, 2009
Fiscal 2010 3Q: April 1, 2009-December 31, 2009
Fiscal 2010:
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 Third Quarter of Fiscal 2010 (April 1, 2009 through December 31,2009)(1) Operating Results
Net Sales
Millions of Yen
3Q FY3/10
3Q FY3/09

546,193662,921%(17.6)–EPS

Ordinary income(loss)
Millions of Yen
2,416(2,472)Net loss% Millions of Yen%––––(2,543)(21,931)

Diluted EPS
Yen––Yen(2.72)(23.37)3Q FY3/10
3Q FY3/09

Operating incomeMillions of Ye%
n3,688 (58.5)
8,893–(2) Financial Position
Total assets
Millions of Yen
1,137,937
1,158,086

3Q FY3/10
FY3/09Total net assets
Millions of Yen
218,463
220,038

Equity ratio
%
16.1
15.9

Equity per share
Yen
195.36
195.802. Dividends
1Q
FY3/09FY3/10FY3/10(forecast)

Dividend per share
3Q
4Q

2Q

TotalYen

Yen

Yen

Yen

Yen

——

2.00
0.00

—
—

0.00

2.00————

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

FY3/10Operating income

Ordinary income

Net income(loss)

EPS

Millions of Yen%

Millions ofYen%

Millions of Yen%

Millions ofYen%

Yen

737,000(15.5)

5,000(55.2)

500—(4,500)—(4.80)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
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
A. Property, plant and equipment
Buildings and structures, net
Machinery, equipment, and vehicles, net
Land
Other, net
Total property, plant and equipment
B. Intangible assets
Goodwill
Other
Total intangible assets
C. Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assetsTotal noncurrent assets
Total assets

3Q FY3/10(As of 12/31/09)(Millions of Yen)
FY3/09(As of 3/31/09)

69,311
169,726
33,435
10,131
41,22139,094(1,924)360,977

61,052
172,62136,75812,361
46,53838,287(1,961)
365,659

167,098
136,783
172,178
70,949547,009

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

18,761
36,17954,941

21,34337,04958,392102,253
82,029(9,273)
175,009776,959
1,137,937

103,153
84,072(9,530)177,695
792,426
1,158,086

Page 2 of 7

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

ItemLiabilities
Current liabilities
Notes and accounts payable-trade
Short-term bank 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
OtherTotal current liabilities
Noncurrent liabilities
Bonds payable
Bonds with subscription rights to shares
Long-term bank loans payable
Provision for retirement benefits
Provision for directors’ retirement benefitsProvision for loss on business of subsidiaries
and affiliates
Provision for special repairs
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
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
Valuation and translation adjustments
Minority interests in consolidated subsidiaries
Total net assets
Total liabilities and net assets

3Q FY3/10(As of 12/31/09)(Millions of Yen)
FY3/09(As of 3/31/09)

84,622
302,023
5,000
20,760
2,859
3,178
7
–
5,438
866
61,838486,596

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

63,22822,023
234,589
35,203788

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

138

138

419
76,484432,876
919,473361
78,104
453,780
938,047

69,49960,381
87,214(920)
216,174

69,49960,74589,743(1,702)
218,286

5,957

4,952(215)4,545(40,466)(2,233)(32,412)34,702
218,463
1,137,937

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

Page 3 of 7

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

Item
Net sales(Millions of Yen)
3Q FY3/09
3Q FY3/10(4/1/08–(4/1/09–12/31/08)
12/31/09)
662,921546,193

Cost of sales

545,234

448,060

Gross profit

117,687

98,133

Selling, general and administrative expenses

108,793

94,444

8,893

3,688853439

1,049

1,076

–

3,904

2,875

3,094

4.777

8,514

8,018

7,462

5.849

–

Operating income
Non-operating income
Interest income
Dividends income
Equity in earnings of unconsolidated subsidiaries
and affiliates
Other
Total non-operating income
Non-operating expenses
Interest expenses
Equity in losses of unconsolidated subsidiaries
and affiliates
Other

2,275

2,323

16,1439,786(2,472)

2,416

Gain on disposal of non-current assets

1,678

1,146

Gain on sales of investments in securities

665

24352
2,695

412
1,584

1,637

1,629

893

15

Loss on valuation of investment securities

6,274–

Amortization of goodwill in equity

4,491

–

Other

3,625

1,638

16,922

3,283(16,699)

717

5,977
(2,291)

2,732

Income taxes-deferred
Income taxes

3,686

2,711

1,545

549

(21,931)(2,543)

Total non-operating expenses
Ordinary income(loss)
Extraordinary income

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

Total Extraordinary loss
Income(loss) before income taxes and minority
interests
Income taxes-currentMinority interests in net income
Net loss(20)Page 4 of 7

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

ItemI

Net cash provided by(used in) operating activities
Income(Loss) before income taxes and minority interests
Depreciation and amortization
Amortization of goodwill
Equity in losses(earnings) of affiliates
Loss on valuation of investment securities
Amortization of goodwill in equity
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
Decrease in other provisionInterest and dividends income
Interest expenses
Loss(Gain) on sales of investment securities
Loss on liquidation of subsidiaries and affiliates
Loss(Gain) on disposal of property, plant, and equipment
Impairment loss
Decrease(Increase) in notes and accounts receivable-trade
Decrease(Increase) in inventories
Decrease(Increase) in notes and accounts payable-trade
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by(used in) operating activities

Net cash provided by(used in) investing activities
Decrease(Increase) in time deposits
Purchase of property, plant, and equipment
Proceeds from sales of property, plant, and equipment
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of investments in subsidiaries resulting inchange in scope of consolidation
Proceeds from sales of investments in subsidiaries
resulting in change 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 by(used in) financing activities
Net increase(decrease) in short-term loans payable
Net Increase(decrease) in commercial papers
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Proceeds from issuance of bonds
Redemption of bonds with subscription rights to shares
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 by(used in) financing activities
IV Effect of exchange rate changes on cash and cash equivalents
V Net increase in cash and cash equivalents
VI Cash and cash equivalents at beginning of period
VII Decrease in cash and cash equivalents resulting from merger
with unconsolidated subsidiaries
VIII Increase in cash and cash equivalents resulting from merger
with unconsolidated subsidiaries
VIX Decrease in cash and cash equivalents resulting from(Millions of Yen)
3Q FY3/09
3Q FY3/10
4/1/08 –4/1/09 –12/31/08
12/31/09(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)(5,740)717
36,3172,500(3.904)
329
–
91
(294)
(2,567)
(19)
(315)
(931)
(1,516)
7,462
226
0
482
15
2,958
10,659(15,727)
153
36,6402,500(8,021)(3,977)(11,505)

27,141

623(36,751)
4.879(2,816)
1,881

(837)
(31,768)
2,119
(285)
6,360

(48,489)––

58(4,795)
3,906
1,270(80,290)(2,262)
1,829
1,443(23,341)

46,1383,000
113,096(46,515)(1,126)
––
2,201
–
22
(4,668)(833)(177)
111,136(1,802)
17,53860,051(3,296)(17,000)
64,477(36,358)(477)
10,500(12,000)
–
(784)
3–
(660)
(986)
3,416
182
7,398
56,299

(195)

––

161

–

(126)

II

Page 5 of 7

corporate divestiture
IX Cash and cash equivalents at end of the period

77,39463,732

Page 6 of 7

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

[Industry Segments]

Net sales(1) Net sales tooutsidecustomers(2) Intersegment
net sales
Total
Operatingincome(loss)(Millions of Yen)
3Q FY3/10 (4/1/09 – 12/31/09)
Constructio Ceramics &n Materials Electronics OtherBusinessBusiness

CementBusiness

MineralResources
Business

Environment
al Business

336,31252,89240,28760,672

12,81843,208546,193—546,193

8,502

13,005

4,544

4,087

31

27,12057,292(57,292)—

344,81565,89844,83264,76012,85070,329603,486(57,292)

546,193

62

1,103

3,089

570

(2,493)

1,841

4,174(486)

3,688Eliminations
Consolidated
or corporate
total
assetsTotal

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

[Geographic segments](Millions of Yen)
3Q FY3/10 (4/1/09 – 12/31/09)

JapanNet sales(1) Net sales tooutside
customers(2) Intersegment
net sales
Total
Operatingincome(loss)

North America

Asia

Other

Eliminations
Consolidated
or corporate
total
assetsTotal

461,892

43,16437,3003,836

546,193—546,193

4,682

—

2,090

1

6,774

(6,774)—

466,574

43,16439,391

3,837

552,968(6,774)546,193

7,374(6,667)

3,426

214

4,347(659)3,688Overseas 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
43,263—
7.9%(Millions of Yen)
3Q FY3/10 (4/1/09 – 12/31/09)
Asia
OtherTotal
45,153
12,067
100,484——
546,193
8.3%
2.2%
18.4%

Page 7 of 7