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

2nd Quarter of Fiscal Year March 2011
Consolidated Earnings Results Update
November 2010

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%
10,00000%3/99 3/00 3/01 3/02 3/03 3/04 3/05 3/06 3/07 3/08 3/09 3/10 3/11E

Consolidated Operating Income and YY Change
50%

6,000

40%
5,000
30%
4,000
20%
10%

3,000

0%
2,000
-10%
1,000
-20%
-30%

0
3/99

3/00

3/01

3/02

3/03

3/04

3/05

3/06

3/07

3/08

3/09

3/10 3/11E

Consolidated Net Income and YY Change
3,000

80%
60%

2,500

40%
2,000
20%
1,500
0%
1,000
-20%
500

-40%
-60%

0
3/99

3/00

3/01

3/02

3/03

3/04

3/05

3/06

3/07

3/08

3/09

3/10 3/11E

2140,000
120,000
100,000
80,00060,00040,00020,00003/99 3/00 3/01 3/02 3/03 3/04 3/05 3/06 3/07 3/08 3/09 3/10
total assets

net assets (shareholders' equity)

14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
3/99

3/00

3/01

3/02

3/03
ROE

3/04

3/05

3/06

3/07

3/08

3/09

3/10

ROA

3

Other, 2,266,
5%Construction,
4,073, 8%
Food Service,
2,229, 5%

Dormitories,
19,619, 41%

Contracted
Services,
5,653, 12%

Hotels,
14,068, 29%

2Q-FY3/10(Units: Million Yen)

Construction,
2,553, 5%

Other, 1,819,
4%

Food Service,
2,036, 4%Contracted
Services,
5,490, 12%

Dormitories,
19,742, 42%Hotels, 15,860,
33%

2Q-FY3/11(Units: Million Yen)

4

Consolidated Income S tatement
net sales
gross income
operating income
ordinary income
net income

19,90029,86749,88019,731
16,97736,707
13,1693/00
36,788
7,173
2,369
2,281
907

3.0%
9.2%
19.4%
15.9%
26.5%

23,79340,47864,32728,51322,06450,577
13,747

3/01
37,884
7,834
2,828
2,643
1,147

20.4%
7.8%
7.2%
3.6%

32.2%
30.5%
38.2%
35.4%
58.8%

18,10047,76865,86727,031
23,76150,792
15,073

3/02
50,065
10,221
3,908
3,580
1,822

12.1%
2.8%
23.5%

21.5%
8.3%
7.8%
4.1%

0.1%
5.5%
6.1%
8.5%
11.9%

22,13849,49771,64731,61023,14654,755
16,824

3/03
50,10910,785
4,149
3,885
2,039

11.3%
2.7%
24.3%

19.5%
7.4%
7.5%
4.0%

7.9%
-2.3%
-3.5%
4.5%
4.8%

22,122
55,71577,86529,37429,43358,806
18,935

3/04
54,081
10,541
4,004
4,060
2,138

11.3%
2.7%
24.3%

18.8%
7.6%
7.6%
4.0%

7.3%
3.3%
10.1%
8.6%
9.6%

23,25462,336
85,62031,58533,07764,663
20,788

3/05
58,014
10,894
4,407
4,411
2,343

7.9%
2.1%
26.0%

18.7%
7.3%
7.6%
3.2%

8.7%
8.2%
4.6%
9.4%
-14.2%

18.5%
5.6%
5.7%
3.6%

5.1%
3.9%
-18.8%-21.5%
20.0%

9.9%
2.4%
23.8%

18.8%
5.9%
5.5%
3.6%

14.1%
15.9%
19.9%
10.0%
13.6%

7.4%
1.7%
23.0%

18.8%
6.5%
5.5%
2.6%

8.9%
9.3%
19.1%
8.2%
-22.2%

4.2%
0.9%
21.4%

16.5%
4.8%
3.6%
1.5%

2.7%
-10.0%-24.6%-33.2%-41.2%

23,350 24,901 19,967 21,852
23,10474,681 85,562 95,728 103,891 115,980
98,047 110,507 115,738 125,793 139,209
44,039 37,342 44,119 41,615
41,49928,316 46,068 44,079 55,266
67,95672,355 83,411 88,199 96,882 109,455
25,512 27,096 27,538 28,911
29,753

3/06
63,085
11,783
4,611
4,824
2,011

8.9%
2.2%
24.5%

3/10
84,513
13,957
4,033
3,012
1,254

Consolidated Balance S heetcurrent assets
fixed assets
total assets
current liabilities
fixed liabilities
total liabilities
net assets (shareholders' equity)

13.3%
9.0%
-3.9%
3.5%
6.7%

20.7%
7.5%
7.0%
3.0%

12.1%
2.8%
22.9%

3/09
82,303
15,507
5,349
4,510
2,133

yy change
net sales
gross income
operating income
ordinary income
net income

19.5%
6.4%
6.2%
2.5%

8.3%
1.8%
21.4%

3/08
75,60614,183
4,492
4,167
2,740

margins
gross margins
operating margins
ordinary margins
net margins

6.9%
1.8%
26.4%

3/07
66,287
12,242
3,745
3,787
2,413

other benchmarks
ROE
ROA
equity ratio
Units: million yen

3/11E *
88,400 *na *5,300 *
4,000 *
1,500 *
*
*
na *
na *
na *
na *
na *
na *
na *
*
*
4.6% *
na *
31.4% *
32.8% *
19.6% ***
na *
6.0% *
4.5% *
1.7% *
*
*
na *
na *
na *
*

2Q3/10 2Q3/11
43,319 42,789
8,295
8,396
3,154
2,847
2,584
2,190
1,196
631

19.1%
7.3%
6.0%
2.8%

3.1%
-3.2%
-9.2%
-16.9%-18.4%

na
na
22.4%

19.6%
6.7%
5.1%
1.5%

-1.2%
1.2%
-9.7%
-15.2%-47.2%

20,277 18,440
106,278 115,483
126,674 134,037
43,640 50,634
53,058 53,419
96,698 104,053
29,975 29,983

na
na
23.7%

5

2nd Quarter of Fiscal Year March 2011 Earnings Announcement
November 9, 2010
Company Name:
Kyoritsu Maintenance Co., Ltd.
Tokyo Stock Exchange
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 12, 2010
Dividend Payment Date (anticipated):
December 1, 2010
Supplemental Quarterly Earnings Documents:
Available
Quarterly Earnings Announcement Meeting:
Held for financial institutions, analysts(All figures of less than one million yen are rounded down to the nearest digit)

1. 2nd Quarter of Fiscal Year March 2011 Consolidated Earnings (From April 1, 2010 to September 30, 2010)(1) Consolidated Earnings (Aggregated)
Net Sales
2Q-FY3/11
2Q-FY3/10

Operating Income

Ordinary Income

Net Income

Million yen% yyMillion yen% yyMillion yen% yyMillion yen% yy

42,78943,319

-1.2
3.1

2,847
3,154

-9.7
-9.2

2,190
2,584

-15.2
-16.9

631
1,196

-47.2
-18.4

EPS
2Q-FY3/11
2Q-FY3/10

Fully Diluted EPS
Yen

Yen

43.97
83.30

36.75
66.52

(2) Consolidated Financial Position
Total Assets

Net Assets

Million yen

Net Asset Ratio

Million yen

2Q-FY3/11
134,037
29,983
FY3/10139,20929,753
 Capital: 29,981 million yen in 2Q-FY3/11, 29,518 million yen in FY3/10

Book Value per Share
％

Yen

22.4
21.2

2,087.12
2,054.83

2. Dividend Conditions
Registry Date

End
1Q

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

Yen

19.00

38.00

FY3/11 (Projected)
19.00
 Revisions to our quarterly dividend projections: NA

38.00

Yen

FY3/10FY3/11

Yen

Yen

Full
Year

19.00
19.00

3. Fiscal Year March 2011 Consolidated Earnings Projection (April 1, 2010 to March 31, 2011)
Net Sales
Million Yen%yy

Operating Income

Ordinary Income

Million Yen

Million Yen%yy

Million Yen

%yy

Yen

4,000

32.8

1,500

19.6

104.42%yy

Full Year
88,400
4.6
5,300
31.4
 Revisions to our earnings projections during the current quarter: NA

Net Income

EPS

6

4. Others(1) Important changes in our subsidiaries, including changes to the scope of our consolidation: None
Added: 0, Removed: 0(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 preparation 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-FY3/11, 15,125,582 at end
FY3/10② Treasury stock as of term end: 760,406 at end 2Q-FY3/11, 760,215 at end FY3/10③ Average shares issued during term: 14,365,293 at end 2Q-FY3/11, 14,366,138 at end 2Q-FY3/10

 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.

7

1. Information Regarding Our Quarterly Consolidated Earnings(1) Information Regarding Our Consolidated Earnings Performance
During the second quarter of the fiscal year March 2011, we saw some signs of a mild recovery in the Japanese
economy on the back of improvements in corporate earnings and a bottoming in capital investments, however thestrengthening of the yen and delays in recoveries of overseas economies contributed to uncertainties regarding
the future. Furthermore private consumption remains severe as the unemployment remained at high levels andthe environment for incomes remained difficult.
The Kyoritsu Maintenance Group has traditionally seen a large portion of sales being booked during April due tothe increased demand for dormitories from students starting the new school year and subsequent increases inlease contract fees in our traditional business of dormitories. However, we have observed a shift in theseasonality of our business, with the concentration of tenant contracts occurring a month earlier in March andfalling into the fourth quarter of the previous year. In addition we note that peak demand for our hotel businesstends coincide with the strong summer travel season between July and September.
Against this backdrop, we recorded a 1.2% year-over-year decline of 529 million yen to 42,789 million yen in
overall net sales due in part to a decline in construction division sales and despite a 1,791 million yen year-overyear increase in hotel division sales. At the same time operating and ordinary incomes fell by 9.7% and 15.2%
year-over-year to 2,847 and 2,190 million yen respectively during the first half. We note however that theperformance in both our dormitory and hotel business segments trended more strongly than our initial estimatesand have therefore revised our earnings estimates upwards. Also during the first half we saw a 47.2% year-overyear decline in net income to 631 million yen due in part to the recognition of asset retirement obligations.
We discuss our business performance in each of our business segments below.
Dormitory Business Segment
In our dormitory business, occupancy rates continued to trend firmly on the back of strong demand fromuniversities with which we formed new alliances. However the front loading of new tenant contracts in Marchthat have traditionally occurred in April led to declines in lease contract fees. Furthermore strong demand fromforeign students helped to offset a slow start of occupancy rates early in the year and allowed sales to grow.
Moreover we anticipate the front loading of new contracts for dormitories into March to continue going forward.
At the same time our strict cost management promotion, but new opening costs associated with newly acquired
facilities contributed to a year-over-year declines in profits. Consequently the number of resident contracts roseby 830 year-over-year to 27,789 at the end of September, and sales rose by 0.6% year-over-year to 19,742 million
yen while operating income declined by 5.8% year-over-year to 2,961 million yen.
Hotel Business Segment
In our hotel business, our Dormy Inn business hotels saw a recovery in existing facility occupancy rates as thenegative impact of the outbreak of influenza and subsequent retrained business travel during the previous term
disappeared. Furthermore six new facilities opened in the previous year and the five newly opened facilities(Obihiro, Asahikawa, Nagasaki, Kyoto Station, Shimonoseki) opened during the current term saw theiroccupancy rates ramp strongly. Our resort hotels saw strong demand during the peak tourist travel season, andour “Kusatsu Hot Springs Tokino Niwa/ Konoha” newly opened in August was also favorably received.
Kyoritsu was also able to implement strict and effective variable costs as well as headquarter cost management
measures. Consequently sales and operating income rose by 12.7% and 92.5% year-over-year to 15,860 and 744
million yen respectively.
Contracted Services Business Segment
Despite recoveries in occupancy rates of tenants in the rental division, which suffered from cancelations of large
contracts in the previous term, the continued decline in rent pricing prevented a full recovery in demand for8management and other contracted services. Therefore sales fell by 2.9% year-over-year to 5,490 million and an
operating loss of 39 million was incurred.
Food Service Business Segment
The operating environment for our food service business remained difficult with stagnant consumption arisingfrom weak personal income conditions hurting demand to eat out. Against this backdrop we maintained ourefforts to control and reduce our variable costs, but additional costs from new facility openings contributed to
weak earnings. Consequently sales fell by 8.6% year-over-year to 2,036 million yen and we incurred an
operating loss of 84 million yen.
Construction Business Segment
In our construction business segment, sales declined on the back of our Group’s efforts to focus upon more
profitable projects. Against this backdrop, this business segment also suffered from higher construction costs.
As a result, we recorded a 37.3% year-over-year decline in sales to 2,553 million yen, and operating income
declined by 94.0% year-over-year to 9 million yen.
Other Business Segment
Our other business is comprised of the wellness life (management of senior citizen housing), rental property
brokerage and management, life service including catalog and rental sales, insurance agency business,
comprehensive human resources services, advertising agency services, and financing services. In this segment
we saw a decline in sales of 19.7% year-over-year to 1,819 million yen and an operating loss of 1 million yen.
(2) Information Regarding Our Consolidated Financial Position
At the end of the second quarter of the current fiscal year, our total consolidated assets declined by 5,172 million
yen from the end of the previous fiscal year to 134,037 million yen. The main reasons for this decline were falls
in cash and equivalents and notes and accounts receivables.
Total consolidated liabilities at the end of the second quarter fell by 5,402 million yen from the end of theprevious fiscal year to 104,053 million yen. We attribute this decline primarily to a fall in prepayments.
Net assets as of the end of the second quarter of the current year grew by 230 million yen from the end of the last
fiscal year to 29,983 million yen. An increase in retained earnings was the main factor contributing to the rise.
Consequently our equity ratio rose by 1.2% points from the end of the previous year to 22.4% as of the end of thesecond quarter of the current term.
(Cash Flow Conditions)
During the second quarter of the current fiscal year our cash and equivalents fell by 2,218 million yen from theend of the previous fiscal year to 9,242 million yen.
In our operating activities we saw a net outflow of 864 million yen for a decline in the net outflow of 2,004
million yen from the second quarter of the previous year. This net outflow can be attributed in part to reductions
in receivables and inventories along with a fall in accounts payable.
In our investing activities we saw a net outflow of 2,406 million yen, a decrease of 1,425 million yen from the net
outflow seen during the same period of the previous year. We attribute this outflow primarily to the acquisitionof tangible fixed assets and security deposits.

9In our financing activities we saw a net inflow of 1,052 million yen, a decline of 4,026 million yen from the net
inflow in the same period of the previous year. The main factor behind this inflow was the increase in short term
debt.
(3) Information Regarding Our Consolidated Earnings Estimates
While we remain cautious in our outlook for the overall economy going forward, we have revised our full year
estimates and now call for increases in both sales and income performance based on our performance in the first
half, the recovery in our dormitory business, and the favorable reception of newly opened facilities including
Kyoto Station, Hakodate, and Kusatsu. At the same time we would like to remind readers of this document that
our actual results may vary by a large margin from our estimates.
2. Other Information(1) Changes in material subsidiaries:
None(2) Application of simplified accounting methodologies and or other special financial reporting standards: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
Application of accounting standards for asset retirement obligations
Accounting Standard for Asset Retirement Obligations (ASBJ Statement No.18, March 31, 2008) and
Guidance on Accounting Standard for Asset Retirement Obligations (ASBJ Statement No.21, March 31,2008) have been applied from the first quarter of the fiscal year March 2011.
This led to a decline of 23 million yen in operating and ordinary incomes and a decrease of 719 million yen
in net income before taxes during the first half.
Change in asset retirement obligations amounted to 135 million yen due to application of accounting
standards for asset retirement obligations.

101. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheet(Units: Million Yen)
End 2Q FY3/11(September 30, 2010)

End FY3/10(March 31, 2010)

AssetsCurrent assets
Cash and deposits

10,275

12,594

Notes, accounts receivable

2,833

3,882

Real estate for sale

297

268

Uncompleted construction payment

445

999

4,624

5,404

-37

-44

18,44023,104

Buildings, structures (net amount)

37,10833,174

Land

28,43028,626

Others (net amount)

15,476

20,358

Total tangible fixed assets

81,01582,159Intangible fixed assets

3,892

3,848

Total intangible fixed assets

3,892

3,848

Investment securities

7,565

6,646

Deposits

8,941

8,582

Security deposits

7,311

7,512

Others

6,925

7,431

Doubtful accounts reserves

-168

-198

Total investments, other assets

30,57529,972

115,483

115,980

Deferred assets

112

124

Total assets

134,037

139,209

Other
Doubtful account reserves
Total current assets
Fixed assets
Tangible fixed assets

Investment, other assets

Total fixed assets

11

(Units: Million Yen)
End 2Q FY3/11(September 30, 2010)

End FY3/10(March 31, 2010)

Liabilities
Current liabilities
Notes, accounts payable

1,973

3,846

Short term debt

24,332

17,937

Portion of bond payable within 1 year

11,740

1,890

829

581

7,550

11,932

Bonus reserves

434

623

Director bonus reserves

66

147

Completed construction guarantee reserves

1211

Unpaid taxes
Deposits

Construction work loss reserves

44

Others

3,691

4,524

Total current liabilities

50,634

41,499

Bonds

8,565

19,385Long term debt

37,18541,264Retirement benefit reserves

1,264

1,199

Director retirement reserves

312

339

Fixed liabilities

Others

6,092

5,766

Total fixed liabilities

53,41967,956

104,053

109,455

5,136

5,136

Total liabilities
Net assets
Shareholders’ equity
CapitalCapital reserves

5,943

5,943

Retained earnings

21,06320,704

Treasury stock-1,470-1,470Total shareholders’ equity

30,67230,313

Other marketable security valuation gains

-690

-795

Total valuation, translation gains

-690

-795

1

235

Valuation, translation gains

Minority interest
Total net assets

29,98329,753

Total liabilities, net assets

134,037

139,20912

(2) Quarterly Consolidated Income Statement(Second Quarter Consolidated Income Statement)(Units: Million Yen)
2Q FY3/10(From April 1, 2009
to September 30, 2009)

2Q FY3/11(From April 1, 2010
to September 30, 2010)

Net sales

43,31942,789CGS

35,02334,393Gross income

8,295

8,396

SG&A

5,141

5,548

Operating income

3,154

2,847

Interest income

37

34

Dividend income

18

23

Deposit redemption income

72

71

Subsidies－80

Others

46

74

175

284

Interest payment

570

699

Other

175

242

745

941

2,584

2,190

Insurance policy refunds

21

53

Return from doubtful account reserves

11－

Others5

19

Total extraordinary income

38

73

Asset retirement obligation accounting implementation－

696

Marketable securities valuation loss

259

－

Other

20

110

Non-operating income

Total non-operating income
Non-operating expense

Total non-operating expense
Ordinary income
Extraordinary income

Extraordinary loss

Total extraordinary loss
Net income before taxes
Corporate and other taxes
Net income before adjustment for minority interest
Minority interest
Net income

279

806

2,342
1,127

1,457
809

－

648

18
1,196

16
631

13

(3) Quarterly Consolidated Cash Flow Statement(Units: Million Yen)
2Q FY3/10(From April 1, 2009
to September 30, 2009)

2Q FY3/11(From April 1, 2010
to September 30, 2010)

Cash flows from operating activities
Net income before taxes other adjustments

2,342

1,457

Depreciation, amortization

1,944

2,131

Amortization of long term prepayment

136

149

Change in bonus reserves

-356

-188

Change in director bonus reserves

-121

－

Interest, dividends received

-56

-58

Interest paid

570

699

Marketable securities valuation loss

259－

Change in receivables

2

1,048

Change in accounts due

532

486

Change in inventories-1,084572

Change in payables-1,130-2,126－

164

Change in prepayments received-3,640-4,382

Change in unpaid consumption tax

-323

205

Change in deposits

-930

-908

Change in security deposits

-210

－

Obligation from asset retirement accounting－

696

Others212

385-1,854

330

42

48

-578

-708

42

43

-520

-579

-2,869-864

Acquisition of marketable securities－-1,164

Sale of marketable securities－－

Acquisition of tangible fixed assets-2,056-1,509Acquisition of intangible fixed assets

-661

－

－

919

Acquisition of long term prepayments

-272

－

Loans extended

-292

-593

Loans recovered

413

693

Deposits, security deposits payments-1,504-1,092Return of deposits, security deposits

602

261

Acquisition of shares in subsidiaries

－

-311

Returns from insurance policy redemption－

443

Change in unpaid expenses

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

Sale of tangible fixed assets

14Others
Cash flows from investing activities

-61

-54

-3,832-2,406(Units: Million Yen)
2Q FY3/10(From April 1, 2009
to September 30, 2009)

2Q FY3/11(From April 1, 2010
to September 30, 2010)

Cash flows from financing activities
Short term debt change

12,758

7,075

Repayment of long term debt

-7,355-4,761

Bond issuance

2,422

－

Bond redemption payment-2,461-970

Treasury stock acquisition-1-0

Dividend payment

-272

-272

Dividend payment to minority interest

-11

-9

Others

－

-9

5,079

1,052

Net change in cash and equivalents-1,622-2,218Cash and equivalents at term start

10,931

11,460Cash and equivalents at term end

9,309

9,242

Cash flows from financing activities(4) Assumptions Regarding Going Concern
Not applicable15(5) Segment Information(Information Regarding Our Various Business Segments)
Second Quarter of Fiscal Year March 2010 (From April 1, 2009 to September 30, 2009)
Food
Service

Construction

Other

Total

(Units: Million yen)Company
Consolidated
Wide

Dormitories

HotelsContracted
Services

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 led to increases of 103 and 2 million yen in consolidated sales and operating income respectively
during the first half.

Second Quarter of Fiscal Year March 2011 (From April 1, 2010 to September 30, 2010)(Units: Million yen)Company
Consolidated
Wide

Dormitories

HotelsContracted
Services

Food
Service

Construction

Other

Total

(1) External sales

19,68915,824

3,450

640

1,882

1,302

42,789－42,789(2) Internal sales

53

36

2,040

1,396

670

516

4,714

-4,714－

Total

19,742

15,860

5,490

2,036

2,553

1,819

47,503-4714

42,789Operating income

2,961

744

-39

-84

9

-1

3,589

-742

2,847

Sales

(Regional Sales Information)
During the second quarter of the previous fiscal year (From April 1, 2009 to September 30, 2009) and the second
quarter of the current fiscal year (From April 1, 2010 to September 30, 2010)
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, 2009 to September 30, 2009) and the second
quarter of the current fiscal year (From April 1, 2010 to September 30, 2010)
We did not have any overseas sales.

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