Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended December 31, 2018
(Based on Japanese GAAP)
February 8, 2019
Company name:T. HASEGAWA CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

4958
URL
President & COO

http://www.t-hasegawa.co.jp/Takao Umino

Inquiries:
Director & Executive Vice President
Scheduled date to file Quarterly Securities Report:

Minoru Nakamura
February 14, 2019

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:

NoTEL

03-3241-1151(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended December 31, 2018 (from October 1, 2018 to December 31, 2018)(1) Consolidated operating results (cumulative)
Net sales
Three months ended December 31, 2018
Three months ended December 31, 2017
Note: Comprehensive income

Millions of yen
12,126
11,655Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen
%
4.0
959
(5.0)
991(8.2)
729(2.1)
1.0
1,009 (30.8)
1,079 (34.9)745 (36.1)

Three months ended December 31, 2018
Three months ended December 31, 2017
Earnings per share¥(2,261) million [–%]
¥3,097 million [(0.3)%]
Diluted earnings per share

Yen
17.40
17.57Three months ended December 31, 2018
Three months ended December 31, 2017

Yen
17.37
17.55

(2) Consolidated financial position
Total assets
Millions of yen
111,575
118,690

As of December 31, 2018
As of September 30, 2018
Reference: Equity

Net assets

As of December 31, 2018
As of September 30, 2018

Equity ratio

Millions of yen
90,012
94,582

%
80.5
79.6

¥89,863 million¥94,432 million

Note: The Company has applied the “Partial Amendments to Accounting Standard for Tax Effect Accounting” (ASBJ Statement No. 28,February 16, 2018) and relevant Guidances effective from the beginning of the first quarter of the fiscal year ending September 30, 2019.
Accordingly, the financial indicators, etc. in the consolidated financial position as of September 30, 2018 are those after retrospective applicationof the standard and guidances.
2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
17.00

Yen–

Yen
18.00

Yen
35.00

17.00

–

18.00

35.00

Year ended September 30, 2018Year ending September 30, 2019Year ending September 30, 2019
(Forecast)
Note: Revision of cash dividend forecast most recently announced: No1Total3. Forecast of consolidated financial results for the year ending September 30, 2019 (from October 1, 2018 to September 30, 2019)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Full year
52,200
4.9
5,500
8.7
5,900
7.0
4,300
4.9
103.39Note: Revision of consolidated financial results forecast most recently announced: No4. Notes(1) Changes in significant subsidiaries during the three months ended December 31, 2018(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:NoYes(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

Yes
NoChanges in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2018

42,708,154 shares As of September 30, 2018

42,708,154 shares

Number of treasury shares at the end of the period
As of December 31, 2018

1,257,125 shares As of September 30, 2018

270,025 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended December 31, 2018

41,941,354 shares Three months ended December 31, 2017

42,429,410 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
* Proper use of forecasts of financial results, and other special matters(Caution regarding forward-looking statements)
The forward-looking statements, including the earnings forecasts, shown in this document are based on information currently available to theCompany and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize suchstatements. Actual results may differ substantially due to various factors.

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Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of September 30, 2018

As of December 31, 2018

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

12,121
17,141

11,536
16,101

Securities
Merchandise and finished goods

6,999
7,086

5,999
7,203

Work in process
Raw materials and supplies

111
7,304

40
7,339

980
(5)

898(34)51,74049,086

Buildings and structures, net
Other, net

17,155
13,45916,771
13,200Total property, plant and equipment

30,61529,971Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Intangible assets
Goodwill

3,480

3,290

Other

3,803

3,681

Total intangible assets

7,283

6,971

Investment securities
Net defined benefit asset

28,071
21

24,56321

Other
Allowance for doubtful accounts

1,007
(49)

1,010
(48)

Total investments and other assets

29,051

25,546

66,95062,489118,690

111,575

5,280

5,339

0663

1329

1,299
63

365
–

Other

3,357

3,135

Total current liabilities

10,664

9,171

Long-term loans payable
Deferred tax liabilities

15,5530
4,481

Net defined benefit liability
Asset retirement obligations

6,826
68

6,857
68

914
80

902
82

13,443

12,391

24,10821,562

Investments and other assets

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Current portion of long-term loans payable
Income taxes payable
Provision for bonuses
Provision for directors' bonuses

Non-current liabilities

Long-term accounts payable - otherOther
Total non-current liabilities
Total liabilities

3

(Millions of yen)
As of September 30, 2018

As of December 31, 2018

Net assets
Shareholders' equity
Capital stock

5,364

5,364

Capital surplus
Retained earnings

7,295
64,917

7,297
64,883

Treasury shares(309)(1,855)77,26875,69017,253261

14,809(298)

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rightsTotal net assets
Total liabilities and net assets

4(350)(337)

17,164

14,172

149

149

94,58290,012

118,690

111,575

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

December 31, 2017

December 31, 2018

Net sales
Cost of sales

11,655
7,196

12,126
7,567

Gross profit

4,459

4,558

Selling, general and administrative expenses

3,449

3,599

Operating profit

1,009

959

Interest income
Dividend income13262129

Foreign exchange gains
Other

1417–
18

Total non-operating income

71

69

00–
133
3

Non-operating income

Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit

137

1,079

991

28

3

Extraordinary losses
Loss on abandonment of non-current assets
Total extraordinary losses

28

3

1,051

987

Income taxes

305

257

Profit745

729

Profit attributable to owners of parent

745

729

Profit before income taxes

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

December 31, 2017

December 31, 2018
745

729

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

1,938405(2,443)(560)

Remeasurements of defined benefit plans, net of tax

812

2,351

(2,991)

Comprehensive income

Total other comprehensive income

3,097(2,261)

Comprehensive income attributable toComprehensive income attributable to owners of parent

3,097(2,261)––

Comprehensive income attributable to non-controllinginterests6Segment Information
1. Three months ended December 31, 2017 (from October 1, 2017 to December 31, 2017)(1) Net sales and profit or loss by reporting segment(Millions of yen)
Reporting segment
JapanAsiaUSA

Total

Adjustment(Note 1)

Consolidated(Note 2)

Net sales
Sales to external customers
Inter-segment sales or transfers

8,614
158

1,816
122

1,225
17

11,655298－(298)

11,655－

Total

8,772

1,939

1,242

11,954(298)11,655878160

(32)

1,006

3

1,009

Segment profit or lossNotes
1. The adjustments on segment profit or loss of 3 million yen include negative 20 million yen adjustments of inventories related
to inter-segment transactions, 23 million yen adjustments of elimination of internal transactions between segments and negative 0
million yen for others.
2. Segment profit or loss is adjusted to operating income of consolidated quarterly statements of income.
2. Three months ended December 31, 2018 (from October 1, 2018 to December 31, 2018)(1) Net sales and profit or loss by reporting segment(Millions of yen)
Reporting segment
JapanAsiaUSA

TotalAdjustment(Note 1)

Consolidated(Note 2)

Net sales
Sales to external customers
Inter-segment sales or transfers

8,891
235

1,886
60

1,348
33

12,126329－(329)

12,126
－

Total

9,126

1,946

1,381

12,455(329)12,126925

51(42)

934

24959

Segment profit or loss
Notes

1. The adjustments on segment profit or loss of 24 million yen include 1 million yen adjustments of inventories related tointer-segment transactions, 23 million yen adjustments of elimination of internal transactions between segments and negative 0million yen for others.
2. Segment profit or loss is adjusted to operating income of consolidated quarterly statements of income.

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