Kyoritsu Maintenance Co., Ltd.
(Securities Code: 9616)

2nd Quarter of Fiscal Year March 2010
Consolidated Earnings Results Update
November 2009

Kyoritsu Maintenance Consolidated Financial Data at a Glance
Consolidated Sales and YY Change
100,000

35%

90,00030%
80,00025%

70,00060,00020%

50,00015%

40,00030,00010%

20,0005%
10,0000
mn yen0%
3/99 3/00 3/01

3/02

3/03

3/04

3/05

3/06 3/07 3/08 3/09 3/10e

Consolidated Operating Income and YY Change
7,000

50%

6,000

40%
30%

5,000

20%
4,000
10%
3,000
0%
2,000

-10%

1,000

-20%

0

-30%
3/99

mn yen

3/00

3/01

3/02

3/03

3/04

3/05

3/06

3/07

3/08

3/09 3/10e

Consolidated Net Income and YY Change
3,000

70%
60%

2,500

50%
40%

2,000

30%
1,500

20%
10%

1,000

0%
-10%

500

-20%
-30%

0
mn yen

3/99

3/00

3/01

3/02

3/03

3/04

3/05

3/06

3/07

3/08

3/09 3/10e2140,000
120,000
100,000
80,00060,00040,00020,000
0
3/98

3/99

3/00

3/01

3/02

total assets

3/03

3/04

3/05

3/06

3/07

3/08

3/09

net assets (shareholders' equity)

14%
12%
10%
8%
6%
4%
2%
0%
3/98

3/99

3/00

3/01

3/02
ROE

3/03

3/04

3/05

3/06

3/07

3/08

3/09

ROA

3

Construction,
3,952, 8%

Other, 2,334,
5%

Business Segment Sales
2Q FY3/09

Food Service,
2,574, 5%

Dormitories,
19,716, 42%Contracted
Services,
5,785, 12%

Hotels, 13,045,
28%(Units: Million Yen)

Construction,
4,073, 8%

Other, 2,266,
5%

Business Segment Sales
2Q FY3/10

Food Service,
2,229, 5%

Dormitories,
19,619, 41%

Contracted
Services,
5,653, 12%

Hotels, 14,068,
29%(Units: Million Yen)

4

Consolidated Income Statement 3/96 3/97 3/98 3/99 3/00 3/01 3/02 3/03 3/04 3/05 3/06 3/07 3/08 3/09 3/10e * 2Q3/09 2Q3/10
net sales
26,399 30,126 31,332 32,458 36,788 37,884 50,065 50,109 54,081 58,014 63,085 66,287 75,606 82,303 89,210 * 42,018 43,319
gros income
5,430 5,639 6,188 6,578 7,173 7,834 10,221 10,785 10,541 10,894 11,783 12,242 14,183 15,507 na * 8,572 8,295
operating income
1,628 1,814 1,971 2,465 2,369 2,828 3,908 4,149 4,004 4,407 4,611 3,745 4,492 5,349 5,890 * 3,472 3,154
ordinary income
1,537 1,705 1,864 2,203 2,281 2,643 3,580 3,885 4,060 4,411 4,824 3,787 4,167 4,510 4,690 * 3,110 2,584
net income
288 684 517 850 907 1,147 1,822 2,039 2,138 2,343 2,011 2,413 2,740 2,133 2,370 * 1,466 1,196**
Consolidated Balance Sheet
cur ent as ets
9,059 10,952 12,391 15,336 19,900 23,793 18,100 22,138 22,122 23,254 23,350 24,901 19,967 21,852 na * 26,670 20,277
fixed as ets
22,565 24,322 24,872 25,695 29,867 40,478 47,768 49,497 55,715 62,336 74,681 85,562 95,728 103,891 na * 97,880 106,278
total as ets
31,624 35,593 37,480 41,144 49,880 64,327 65,867 71,647 77,865 85,620 98,047 110,507 115,738 125,793 na * 124,605 126,674
cur ent liabilities
14,461 16,254 18,980 20,921 19,731 28,513 27,031 31,610 29,374 31,585 44,039 37,342 44,119 41,615 na * 38,154 43,640
fixed liabilities
9,300 10,943 9,954 10,946 16,977 22,064 23,761 23,146 29,433 33,077 28,316 46,068 44,079 55,266 na * 57,909 53,058
total liabilities
23,761 27,197 28,934 31,866 36,707 50,577 50,792 54,755 58,806 64,663 72,355 83,411 88,199 96,882 na * 96,063 96,698
net as ets (shareholders' equity) 7,863 8,396 8,546 9,278 13,169 13,747 15,073 16,824 18,935 20,788 25,512 27,096 27,538 28,911 na * 29,213 30,529**
yy change
net salesna 14.1% 4.0% 3.6% 13.3% 3.0% 32.2% 0.1% 7.9% 7.3% 8.7% 5.1% 14.1% 8.9% 8.4% * na 3.1%
gros income
na 3.9% 9.7% 6.3% 9.0% 9.2% 30.5% 5.5% -2.3% 3.3% 8.2% 3.9% 15.9% 9.3% na * na -3.2%
operating income
na 11.4% 8.7% 25.1% -3.9% 19.4% 38.2% 6.1% -3.5% 10.1% 4.6% -18.8% 19.9% 19.1% 10.1% * na -9.2%
ordinary income
na 11.0% 9.3% 18.2% 3.5% 15.9% 35.4% 8.5% 4.5% 8.6% 9.4% -21.5% 10.0% 8.2% 4.0% * na -16.9%
net income
na 137.5% -24.5% 64.6% 6.7% 26.5% 58.8% 11.9% 4.8% 9.6% -14.2% 20.0% 13.6% -22.2% 11.1% * na -18.4%**
margins
gros margins
20.6% 18.7% 19.8% 20.3% 19.5% 20.7% 20.4% 21.5% 19.5% 18.8% 18.7% 18.5% 18.8% 18.8% na * 20.4% 19.1%
operating margins
6.2% 6.0% 6.3% 7.6% 6.4% 7.5% 7.8% 8.3% 7.4% 7.6% 7.3% 5.6% 5.9% 6.5% 6.6% * 8.3% 7.3%
ordinary margins
5.8% 5.7% 6.0% 6.8% 6.2% 7.0% 7.2% 7.8% 7.5% 7.6% 7.6% 5.7% 5.5% 5.5% 5.3% * 7.4% 6.0%
net margins
1.1% 2.3% 1.6% 2.6% 2.5% 3.0% 3.6% 4.1% 4.0% 4.0% 3.2% 3.6% 3.6% 2.6% 2.7% * 3.5% 2.8%**
other benchmarks
ROE
3.7% 8.1% 6.0% 9.2% 6.9% 8.3% 12.1% 12.1% 11.3% 11.3% 7.9% 8.9% 9.9% 7.4% na * na na
ROA
0.9% 1.9% 1.4% 2.1% 1.8% 1.8% 2.8% 2.8% 2.7% 2.7% 2.1% 2.2% 2.4% 1.7% na * na na
equity ratio
24.9% 23.6% 22.8% 22.6% 26.4% 21.4% 22.9% 23.5% 24.3% 24.3% 26.0% 24.5% 23.8% 23.0% na * 22.7% 23.5%
Units: mil ion yen*
52nd Quarter of Fiscal Year March 2010 Earnings Announcement
November 9, 2009
Company Name:
Kyoritsu Maintenance Co., Ltd.
Stock Code:9616
URL: http://www.kyoritsugroup.co.jp/
Director:
Mitsutaka Sato, President
Contact:
Takumi Ueda, Vice President
Tel: +81-3-5295-7778
Earnings Announcement Filing Date (anticipated):
November 13, 2009
Dividend Payment Date (anticipated):
December 1, 2009

Tokyo Stock Exchange(All figures of less than one million yen are rounded down to the nearest digit)

1. 2nd Quarter of Fiscal Year March 2010 Consolidated Earnings (From April 1, 2009 to September 30, 2009)(1) Consolidated Earnings (Aggregated)
Net Sales
2Q-FY3/10
2Q-FY3/09

Ordinary Income

Net Income% yyMillion yen% yyMillion yen% yyMillion yen% yy

43,31942,018

3.1
--

3,154
3,472

-9.2
--

2,584
3,110

-16.9
--

1,196
1,466

-18.4
--

Fully Diluted EPS

EPS
2Q-FY3/10
2Q-FY3/09

Operating Income

Million yen

Yen

Yen

83.30
102.04

66.52
81.44

(2) Consolidated Financial Position
Total Assets

Net Assets

Million yen

Net Asset Ratio

Million yen

2Q-FY3/10
126,674
29,975
FY3/09125,793
28,911
 Capital: 29,749 million yen in 2Q-FY3/10, 28,669 million yen in 2Q-FY3/09

Book Value per Share
％

Yen

23.5
22.8

2,070.87
1,995.59

2. Dividend Conditions
Registry Date

End
1Q
Yen

Dividends per Share
End
End
End
3Q
2Q
Year
Yen

Yen

19.00

38.00

FY3/10 (Projected)
19.00
 Revisions to our quarterly dividend projections: NA

38.00

FY3/09

Yen

Yen

Full
Year

19.00
19.00

FY3/103. Fiscal Year March 2010 Consolidated Earnings Projection (April 1, 2009 to March 31, 2010)
Net Sales

Operating Income

Ordinary Income

Million Yen%yy

Million Yen%yy

Million Yen

%yy

Yen

Full Year
89,210
8.4
5,890
10.1
 Revisions to our earnings projections during the first quarter: NA

4,690

4.0

2,370

11.1

164.97

Million Yen%yy

Net Income

EPS

6

4. Others(1) Important changes in our subsidiaries, including changes to the scope of our consolidation: Yes
Added: 0, Removed: 1, MB Mouton Property, Ltd.
(2) Application of simple accounting procedures and other special accounting procedures in the creation of ourquarterly consolidated financial statements: Yes(3) Changes in the accounting methods, procedures, display methods used in the creation of our consolidated
financial statements during the most recent quarter:① Changes accompanying revisions in accounting standards: Yes② Other changes: None
(4) Shares issued (Common stock)① Shares issued as of term end (including treasury stock): 15,125,582 at end 2Q-FY3/10, 15,125,582 at end
FY3/09② Treasury stock as of term end: 759,941 at end 2Q-FY3/10, 758,951 at end FY3/09③ Average shares issued during term: 14,366,138 at end 2Q-FY3/10, 14,367,476 at end 2Q-FY3/09

 Notes and explanations regarding the appropriate uses of our earnings projections
All projections provided within this document are based on the most accurate information available at the timeof this writing. However our actual results may differ from our projections due to various unforeseen reasons.
Information Regarding Our Financial Statements
1. Information Regarding Our Consolidated Earnings
During the first two quarters of the current fiscal year we saw some signs of improvement in production andexports with adjustments in inventories having been completed within the Japanese economy. However the
economy continues to face severe conditions as the employment reached record highs and the future continues toremain unclear.
The Kyoritsu Maintenance Group notes that there has been a shift in the seasonality of our earnings, where we
traditionally saw a larger portion of sales being booked early in the year during April due to the start of the fiscal
year and subsequent increase in tenant contracts. This year we saw a concentration of tenant contracts occurring
a month early in March, at the end of the previous fiscal year. Furthermore we saw demand in our hotel (resort
hotel) business trend strongly due to favorable seasonal demand from travelers during the summer and also froma long holiday this fall. Against this backdrop we recorded a 1,300 million yen or 3.1% year-over-year increasein sales to 43,319 million yen during the first half, while operating income fell by 9.2% year-over-year to 3,154
million yen. Furthermore the cost of capital procurement contributed to a larger decline in ordinary income of
16.9% year-over-year to 2,584 million yen. Furthermore an extraordinary loss arising from revaluation ofmarketable securities led to an 18.4% year-over-year decline in net income to 1,196 million yen. And while ourresults fell slightly short of our interim earnings projections, we still feel confident in our ability to achieve strong
results during the second half of the current fiscal year and have left our existing earnings projections unchanged.
We discuss our business performance in each of our business segments below.
Dormitory BusinessIn our dormitory business, occupancy rates continued to trend firmly on the back of strong demand from students
at universities with which we formed new alliances. However the front loading in March of new tenant contracts
that normally occur in April led to year-over-year declines in both sales and profits. Furthermore in our corporate
dormitories and facilities operations, we saw a decline in monthly contracts due to weaker than expected demand
from training activities on the back of deteriorating corporate earnings. Consequently the number of resident
contracts fell by 134 year-over-year to 26,959 at the end of September, and sales and operating income declined
by 0.5% and 11.1% year-over-year to 19,619 and 3,143 million yen respectively. While these numbers fellslightly shy of our projected first half earnings, we are implementing strategies to raise our occupancy rates at ourdormitories in addition to other measures to boost our earnings and have left our full year consolidated earnings
projections unchanged.

7Hotel BusinessIn our hotel business, we opened five new Dormy Inn business hotels (Takasaki, Hakata Gion, Kooriyama, Otaru,
and Tsu) and one new resort hotel (Takayama) for a total of six new facilities in the current term. Furthermore
we saw strong occupancy rates in our existing hotels due in part to the long holiday during the fall and strong
demand from vacation users during the summer. Consequently we were able to offset weaker demand from
corporate customers resulting from restrained business travel due to weak corporate earnings and to the spread ofinfluenza, and sales rose by 7.8% year-over-year to 14,068 million yen. Furthermore while opening costs rosedue to the opening of new facilities, strict cost management of each facility contributed to improvements in costs
per facility and contributed a 14.2% year-over-year increase in operating income to 386 million yen.
Contracted Services BusinessDespite efforts to promote strict cost controls, weak corporate earnings led to demands from clients to cut prices
and revise service agreements and outpaced our abilities to reduce costs. Therefore we recorded declines in bothsales and operating income of 2.3% and 28.8% year-over-year to 5,653 and 202 million yen respectively.
Food Service Business
The operating environment for our food service business remained difficult with intensifying pricing competition
from large restaurant chains and weak personal consumption trends. Against this backdrop we maintained ourefforts to control and reduce our variable costs, and restructure our earnings structure. Despite our efforts, we
saw a 13.4% year-over-year decline in sales to 2,229 million yen and an operating loss of 27 million yen.
Construction Business
The operating environment in our construction business remained severe during the term under review due todeclines in prices and weak sales of real estate, and despite drops in building material costs. Against thisbackdrop, we focused upon reducing construction costs of dormitories and hotels. As a result of our efforts, we
saw a 3.0% year-over-year decline in sales to 4,073 million yen, while we recorded a 162 million yen operating
profit.
Other Business
Our other business is comprised of the wellness life (management of senior citizen housing), life service (catalog
and rental sales, insurance agency business), advertising agency, rental property brokerage and management,
comprehensive human resources, and financing services. In this segment we saw declines in sales and operating
income of 2.9% and 11.7% year-over-year to 2,266 and 97 million yen respectively.
2. Information Regarding Our Consolidated Financial Position
At the end of the second quarter of the current fiscal year, our total consolidated assets grew by 880 million yen
from the end of the previous fiscal year to 126,674 million yen. The main reason for this increase was anincrease in tangible fixed assets arising from newly developed facilities.
Total consolidated liabilities at the end of the second quarter declined by 183 million yen from the end of theprevious fiscal year to 96,698 million yen. We attribute this decline primarily to a fall in prepayments in ourdormitory business.
Net assets as of the end of the second quarter of the current fiscal year grew by 1,063 million yen from the end of
the last fiscal year to 29,975 million yen. An increase in retained earnings was the main factor contributing to therise in net assets.

8

Consequently our equity ratio rose by 0.7% points from the end of the previous year to 23.5% as of the end of thesecond quarter.
(Cash Flow Conditions)
During the second quarter of the current fiscal year our cash and equivalents fell by 1,622 million yen from theend of the previous fiscal year to 9,309 million yen.
In our operating activities we saw a net outflow increase of 1,102 million yen year-over-year to 2,869 million yen.
We attribute this larger outflow to acquisitions of inventories in our construction business, and to a decline inprepayments in our dormitory business.
In our investing activities we saw a net outflow of 3, 832 million yen, a decrease of 528 million yen from the net
outflow seen during the same period of the previous year. We attribute this outflow primarily to the acquisition
tangible fixed assets in our dormitory and hotel businesses.
In our financing activities we saw a net inflow of 5,079 million yen, a decline of 9,083 million yen from the net
inflow in the same period of the previous fiscal year. The main factor behind this inflow was the increase in shortterm debt.

3. Information Regarding Our Consolidated Earnings Projections
With regards to our consolidated earnings projections for the fiscal year to March 2010, we maintain ouroutstanding projections which were originally announced on May 15, 2009.
4. Others(1) Changes in material subsidiaries during the period (Changes in consolidation scope resulting from changes in
consolidated subsidiaries)
We have removed MB Mouton Property Ltd. from the scope or our consolidation.
(2) Application of simplified accounting methodologies and/or quarterly financial reporting standards in the
preparation of quarterly financial statements:(1) Simplified accounting methodologies
1) Inventories valuation methodology
A partial physical inventory, comprised of material items and sampling, was utilized for the valuation of
inventories at the current quarter end. We have reduced the valuations for inventories where we haveclear evidence that carrying value exceeds estimated net realizable value.
2) Deferred tax asset and liability calculation
Deferred tax asset recoverability assessment in the current quarter is based on the prior fiscal year’sbusiness outlook, tax planning strategies and other factors if it is determined there has been no significant
changes to the overall business environment since the end of the prior fiscal year.
(2) Quarterly financial reporting standards in the preparation of quarterly financial statements
Provision for taxes
The provision for taxes is based upon applying the estimated effective tax rate for the current fiscal year,
including the current quarter, to income before income taxes. Adjustments to income taxes are includedin the provision for taxes.
(3) Changes in accounting principles, policies, procedures, and classification in the preparation of quarterly
consolidated financial statements
Change in accounting principle for construction projects-in-progress and cost of construction
We previously utilized the percentage of completion method for long-term large construction projects,
with an estimated construction period of more than two years and contracted amounts greater than two

9

billion yen, and the completed contract method for all others. For construction contracts entered intofrom the first quarter of the current fiscal year, we have commenced application of Accounting Standards
Board of Japan’s Statement No. 15, “Accounting Standard for Construction Contracts” and GuidanceNo. 18, “Guidance on Accounting Standard for Construction Contracts” issued on December 27,
2007. Statement No. 15 and Guidance No. 18 requires us to utilize the percentage-of-completion method
if the total contract revenue, total contract costs, and percentage of completion, at the end of the reporting
period, can be reliably estimated, and the completed-contract method for all others.
These changes during led to increases of 103 in consolidated sales and 2 million yen in operating,ordinary and pretax net incomes respectively during the second quarter.

10

1. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheet(Units: Million Yen)
End 2Q FY3/10(September 30, 2009)

End FY3/09(March 31, 2009)

AssetsCurrent assets
Cash and deposits

10,443

12,065

Notes, accounts receivable

2,896

2,896

Real estate for sale

1,538

424

Uncompleted construction payment

1,026

982

Other

4,412

5,530

-40

-44

20,277

21,852

Buildings, structures

30,76527,869Land

25,94325,896

Others16,992

20,024

Total tangible fixed assets

73,70173,790Intangible fixed assets

3,689

2,921

Total intangible fixed assets

3,689

2,921

Investment securities

6,529

6,440

Guaranteed deposits

8,325

7,370

Security deposits

7,475

6,986

Others

6,712

6,535

Doubtful accounts reserves

-155

-154

Total investments, other assets

28,887

27,179106,278

103,891

Deferred assets

117

49

Total assets

126,674

125,793

Doubtful account reserves
Total current assets
Fixed assets
Tangible fixed assets

Investment, other assets

Total fixed assets

11

(Units: Million Yen)
End 2Q FY3/10(September 30, 2009)

End FY3/09(March 31, 2009)

Liabilities
Current liabilities
Notes, accounts payable

2,060

3,028

Short term debt

26,54917,497

Unpaid taxes

1,293

530

Deposits

8,050

11,675

Bonus reserves

553

910

Director bonus reserves

78

199

Completed construction guarantee reserves

1212Construction work loss reserves

44

Others

5,039

7,758

Total current liabilities

43,64041,615

Bonds

16,03014,400Long term debt

29,40733,055Retirement benefit reserves

1,217

1,168

Director retirement reserves

338

370

Fixed liabilities

Others

6,065

6,272

Total fixed liabilities

53,05855,266

96,69896,882

5,136

5,136

Total liabilities
Net assets
Shareholders’ equity
CapitalCapital reserves

5,943

5,943

Retained earnings

20,91919,995

Treasury stock-1,469

-1,468

Total shareholders’ equity

30,52929,607

Other marketable security valuation gains

-780

-937

Total valuation, translation gains

-780

-937

226

241

Valuation, translation gains

Minority holdings
Total net assets

29,97528,911

Total liabilities, net assets

126,674

125,79312

(2) Quarterly Consolidated Income Statement(First Quarter Consolidated Income Statement)(Units: Million Yen)
2Q FY3/09(From April 1, 2008
to September 30, 2008)

2Q FY3/10(From April 1, 2009
to September 30, 2009)

Net sales

42,01843,319CGS

33,44535,023Gross income

8,572

8,295

SG&A

5,100

5,141

Operating income

3,472

3,154

Interest income

5037Dividend income

23

18

Deposit redemption income

73

72

Others

51

46

198

175

Interest payment

414

570

Other

146

175

560

745

3,110

2,584

Insurance policy refunds

24

21

Income adjustment from previous term

7－

Bad credit reserves--

11

Non-operating income

Total non-operating income
Non-operating expense

Total non-operating expense
Ordinary income
Extraordinary income

Others55Total extraordinary income

37

38

Marketable securities valuation loss

201

259

Other

145

20

Extraordinary loss

Total extraordinary loss

347

279

Net income before taxes
Corporate and other taxes
Minority shareholding income
Net income

2,800
1,336
-1
1,466

2,342
1,127
18
1,196

13

(3) Quarterly Consolidated Cash Flow Statement(Units: Million Yen)
2Q FY3/09(From April 1, 2008
to September 30, 2008)

2Q FY3/10(From April 1, 2009
to September 30, 2009)

Cash flows from operating activities
Net income before taxes other adjustments

2,800

2,342

Depreciation, amortization

1,781

1,944

Amortization of long term prepayment

115

136

Change in bonus reserves

-182

-356

Change in director bonus reserves

-65

-121

Interest, dividends received

-74

-56

Interest paid

414

570

Marketable securities valuation loss

201

259

Change in receivables

174

2

Change in accounts due

441

532

Change in inventories

275-1,084

Change in payables-1,221-1,130Change in prepayments received-4,433-3,640

－

-323

-893

-930

Change in security deposits

－

-210

Others

243

212

-421

-1,854

70

42

-405

-578

5

42

-1,014-520-1,766-2,869Acquisition of marketable securities

-203

－

Sale of marketable securities

219－-3,750-2,056

Acquisition of intangible fixed assets

－

-661

Acquisition of long term prepayments

－

-272

Loans extended

-215

-292

Loans recovered

254

413

Deposits, security deposits payments-479-1,504Return of deposits, security deposits

－

-602

Change in unpaid consumption tax
Change in deposits

SubtotalInterest, dividends received
Interest payments
Corporate tax returns
Corporate tax
Cash flows from operating activities
Cash flows from investing activities

Acquisition of tangible fixed assets

14Others
Cash flows from investing activities

-186

-61

-4,360-3,832(Units: Million Yen)
2Q FY3/09(From April 1, 2008
to September 30, 2008)
Cash flows from financing activities
Short term debt

2Q FY3/10(From April 1, 2009
to September 30, 2009)-6,40912,758Long term debt

23,000－

Repayment of long term debt

-3,144-7,355

Lease liabilities repayment-1,084--

Bond issuance

2,980

2,422

Bond redemption payment-880-2,461

Treasury stock acquisition－-1

Dividend payment

-286

-272

Dividend payment to minority shareholders

-16

-11

Cancellation of dividend payment to minority
shareholders-16－

Others19－

Cash flows from financing activities
Translation gains for cash and equivalents

14,162
--

5,079
--

Net change in cash and equivalents

8,035-1,622

Cash and equivalents at term start

8,061

10,931

Cash and equivalents at term end

16,096

9,309(4) Assumptions Regarding Going Concern
Not applicable15(5) Segment Information(Information Regarding Our Various Business Segments)
Second Quarter of Fiscal Year March 2009 (From April 1, 2008 to September 30, 2008)
Food
Service

Construction

Other

Total

(Units: Million yen)Company
Consolidated
Wide

Dormitories

HotelsContracted
Services

19,667

12,956

4,119

1,234

2,434

1,606

42,018－42,018

49

89

1,666

1,340

1,518

727

5,391

(5,391)－

19,716

13,045

5,785

2,574

3,952

2,334

47,409(5,391)42,018

3,534

338

284

26

-14

110

4,279

(807)

3,472

Sales
(1) External sales(2) Internal sales
Total
Operating income

Second Quarter of Fiscal Year March 2010 (From April 1, 2009 to September 30, 2009)(Units: Million yen)Company
Consolidated
Wide

Dormitories

HotelsContracted
Services

Food
Service

Construction

Other

Total

19,557

14,006

3,891

1,018

3,365

1,479

43,319－43,319

61

62

1,762

1,210

708

786

4,591

(4,591)－

19,61914,068

5,653

2,229

4,073

2,266

47,910(4,591)

43,319

3,143

386

202

-27

162

97

3,964

(810)

3,154

Sales
(1) External sales(2) Internal sales
Total
Operating income(Reference) Changes in accounting principles(Change in accounting principle for construction projects-in-progress and cost of construction)
For construction contracts entered into from the first quarter of the current fiscal year, we have commenced applicationof Accounting Standards Board of Japan’s Statement No. 15, “Accounting Standard for Construction Contracts” andGuidance No. 18, “Guidance on Accounting Standard for Construction Contracts” issued on December 27,
2007. These changes during led to increases of 103 and 2 million yen in consolidated sales and operating income
respectively during the second quarter.

(Regional Sales Information)
During the second quarter of the previous fiscal year (From April 1, 2008 to September 30, 2008) and the second
quarter of the current fiscal year (From April 1, 2009 to September 30, 2009)
We did not have any overseas subsidiaries or offices and therefore we do not report any regional sales information.
(Overseas Sales)
During the second quarter of the previous fiscal year (From April 1, 2008 to September 30, 2008) and the second
quarter of the current fiscal year (From April 1, 2009 to September 30, 2009)
We did not have any overseas sales.
(6) Significant Changes in Our Shareholders Equity
We do not note any significant changes.

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