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 Six Months Ended March 31, 2016
(Based on Japanese GAAP)May 11, 2016
Company name:T. HASEGAWA CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

4958
URL
President & COO

http://www.t-hasegawa.co.jp/Takahiko Kondo

Inquiries:Director, Deputy President & CFOScheduled date to file Quarterly Securities Report:

Takao Umino
May 13, 2016

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:

June 1, 2016
Yes

Holding of quarterly financial results meeting:

Yes

TEL

03-3241-1151(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended March 31, 2016 (from October 1, 2015 to March 31, 2016)(1) Consolidated operating results (cumulative)
Net sales
Six months ended March 31, 2016
Six months ended March 31, 2015
Note: Comprehensive income

Millions of yen
22,82521,879Percentages indicate year-on-year changes
Profit attributable toOperating income
Ordinary income
owners of parent% Millions of yen% Millions of yen% Millions of yen
%
4.3
2,263
28.8
2,243
5.4
1,543
31.0
0.8
1,757 (20.5)
2,128 (12.8)
1,177 (25.1)

Six months ended March 31, 2016
Six months ended March 31, 2015

¥1,499 million [(71.1)%]¥5,192 million [95.3%]

Earnings per share

Diluted earnings per share

Yen36.3828.37

Six months ended March 31, 2016
Six months ended March 31, 2015

Yen
36.36
–(2) Consolidated financial position
Total assets
As of March 31, 2016
As of September 30, 2015
Reference: Equity

Net assets

Millions of yen
100,497
101,604

As of March 31, 2016
As of September 30, 2015

Equity ratio

Millions of yen
80,311
79,436

%
79.9
78.2

¥80,298 million¥79,436 million

2. Cash dividends
Annual dividends per share

Year ended September 30, 2015
Year ending September 30, 2016
Year ending September 30, 2016
(Forecast)

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

TotalYen––Yen
15.00
15.00

Yen–

Yen
15.00

Yen
30.00

–

15.00

30.00

Note: Revision of cash dividend forecast most recently announced: No
3. Forecast of consolidated financial results for the year ending September 30, 2016 (from October 1, 2015 to September 30, 2016)

Net sales

Full year

Millions of yen
49,430Percentages indicate year-on-year changes
Profit attributable toOperating income
Ordinary income
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%Yen
4.74,380
0.6
4,640(4.4)
3,070
0.9
72.36

Note: Revision of consolidated financial results forecast most recently announced: No1

4. Notes(1) Changes in significant subsidiaries during the six months ended March 31, 2016(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

Yes(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
No

Changes 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 March 31, 2016

42,708,154 shares As of September 30, 2015

42,708,154 shares

Number of treasury shares at the end of the period
As of March 31, 2016

281,069 shares As of September 30, 2015

281,069 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended March 31, 2016

42,427,085 shares Six months ended March 31, 2015

41,527,448 shares* Indication regarding execution of audit proceduresThis quarterly financial results report is exempt from the review procedures in accordance with the Financial Instruments and Exchange Act. At
the time of disclosure of this quarterly financial results report, the review procedures for quarterly financial statements in accordance with theFinancial Instruments and Exchange Act have not been completed.
* Proper use of forecasts of financial results, and other special matters
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.

2

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of September 30, 2015

As of March 31, 2016

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

9,674
16,38911,014
14,159Securities
Merchandise and finished goods

10,999
5,917

9,999
6,439

Work in process
Raw materials and supplies

154
5,276

166
5,404

Other
Allowance for doubtful accounts

1,338
(4)

1,113
(4)

Total current assets

49,744

48,294

Buildings and structures, net
Other, net

17,517
15,097

18,251
13,677

Total property, plant and equipment

32,61431,928Non-current assets
Property, plant and equipment

Intangible assets
Goodwill

1,319

1,325

Other

1,220

1,215

Total intangible assets

2,5402,541

Investment securities
Net defined benefit asset

15,742
6

16,7908

Other
Allowance for doubtful accounts

1,016
(60)

996
(62)

Total investments and other assets

16,705

17,73351,86052,202

101,604

100,497

5,896

6,034

5863

18
850

Provision for bonuses
Provision for directors' bonuses

1,054
36736
–

Asset retirement obligations
Other

78
4,172

78
2,246

Total current liabilities

12,107

9,964

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 payableNon-current liabilities
Long-term loans payable

151

136

Deferred tax liabilities
Net defined benefit liability

2,237
6,490

2,487
6,417

Provision for directors' retirement benefits
Asset retirement obligations

1,066
69

–69

–
46

1,057
52

10,061

10,221

22,16820,185Long-term accounts payable - other
Other
Total non-current liabilities
Total liabilities

3

(Millions of yen)
As of September 30, 2015

As of March 31, 2016

Net assets
Shareholders' equity
Capital stock

5,364

5,364

Capital surplus
Retained earnings

7,292
57,173

7,292
58,080Treasury shares

(321)

(321)

69,50970,416

8,404
1,817

9,371
792

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans

(295)

(281)

Total accumulated other comprehensive income

9,926

9,882

Subscription rights to shares
Total net assets
Total liabilities and net assets

4–

12

79,43680,311

101,604

100,497

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

Six months ended

March 31, 2015

March 31, 2016

Net sales
Cost of sales

21,87913,87522,825
14,328Gross profit

8,004

8,497

Selling, general and administrative expenses

6,246

6,233

Operating income

1,757

2,263

Interest income
Dividend income

28
90

15107

Foreign exchange gains
Other216
67–
47

Total non-operating income

402

170

35Rent expenses on facilities
Foreign exchange losses24–

40
137

Other

36

Non-operating income

Non-operating expenses
Interest expenses

Total non-operating expenses

31

190

2,128

2,243

–

142

–

142

Extraordinary losses
Loss on abandonment of non-current assets

1713

Loss on valuation of investment securities
Impairment loss

1251

–
–

Total extraordinary losses

81

13

2,046

2,373

868

829

Profit

1,177

1,543

Profit attributable to owners of parent

1,177

1,543

Ordinary income
Extraordinary income
Gain on sales of investment securities
Total extraordinary income

Income before income taxes and minority interestsIncome taxes

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

ProfitOther comprehensive income

Six months ended

Six months ended

March 31, 2015

March 31, 2016
1,177

1,543

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

2,876
1,133

967
(1,024)Remeasurements of defined benefit plans, net of tax

313

4,014

(44)

Comprehensive income

Total other comprehensive income

5,192

1,499

Comprehensive income attributable toComprehensive income attributable to owners of parent

5,192

1,499––Comprehensive income attributable to non-controllinginterests

6Segment Information
1. Six months ended March 31, 2015 (from October 1, 2014 to March 31, 2015)(1) Net sales and income or loss by reporting segment(Millions of yen)
Reporting segment
Japan

Asia

USA

Total

Adjustment(Note 1)

Consolidated(Note 2)

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

16,555
169

3,990
117

1,333
52

21,879338－(338)

21,879－Total

16,724

4,107

1,385

22,218(338)

21,879Segment income or loss

1,364771

(39)

2,097

30

2,128

Notes
1. The adjustments on segment income or loss of ¥30 million include ¥36 million adjustments of inventories related tointer-segment transactions, (¥5) million foreign currency translation related to inter-segment asset and liability eliminations and(¥0) million for others.
2. Segment income or loss is adjusted to ordinary income of consolidated quarterly statements of income.
(2) Information regarding the assets by reporting segment
Peresscol Sdn.Bhd. has become a wholly owned subsidiary by acquisition of all the outstanding shares, which is included in thescope of consolidation for the three months ended December 31, 2014. Due to this, the amount of assets of Asia segment listed at theend of the six months ended March 31, 2015 increased by ¥3,534 million when compared to the end of the previous fiscal year.
(3) Information regarding impairment loss of non-current assets, goodwill, etc. by reporting segment(Significant impairment loss related to non-current assets)
In Japan segment, the Company realized impairment loss of certain rental assets to a contract manufacturer as they are unutilized.
The amount of the relevant impairment loss is ¥51 million for the six months ended March 31, 2015.
(Significant change in the amount of goodwill)
Peresscol Sdn.Bhd. has become a wholly owned subsidiary by acquisition of all the outstanding shares, which is included in thescope of consolidation in Asia segment. Increased amount of goodwill by the said event is ¥1,822 million for the six months
ended March 31, 2015.
2. Six months ended March 31, 2016 (from October 1, 2015 to March 31, 2016)
Net sales and income or loss by reporting segment(Millions of yen)
Reporting segmentJapanAsiaUSA

Total

Adjustment(Note 1)

Consolidated(Note 2)

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

17,062
293

4,113
204

1,650
40

22,825538－(538)

22,825－

Total

17,355

4,317

1,690

23,363(538)

22,825

Segment income or loss

1,604

655

(10)

2,249

(5)

2,243

Notes
1. The adjustments on segment income or loss of (¥5) million include (¥4) million foreign currency translation related tointer-segment asset and liability eliminations, (¥1) million adjustments of inventories related to inter-segment transactions and(¥0) million for others.
2. Segment income or loss is adjusted to ordinary income of consolidated quarterly statements of income.

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