Summary(Translation)
Fields Corporation
Summary of Financial Information and Business Results (Consolidated)
for the Nine Months Ended December 31, 2008
(Year Ending March 31, 2009)
February 12, 2009

Company Name:

Fields Corporation(URL: http://www.fields.biz)
Listed on:
JASDAQ (Stock code: 2767)
Representative Director:
Takashi Oya
President and COO
Inquiries:
Hideaki Hatanaka
Executive Officer and General Manager, Office of the President,
Investor and Public Relations OfficeTel:+81-3-5784-2111
Planned Date for Submittal of the Quarterly Report: February 13, 2009
(Rounded down to the nearest million)

1. Business results for the nine months ended December 31, 2008 (April 1, 2008, to December 31, 2008)(1) Operating results (cumulative total)(Percentage figures denote year-over-year changes.)

Net sales
Million yen
Nine months ended
December 31, 2008
Nine months ended
December 31, 2007

Operating income%

Ordinary income%

Million yen

Net income%

Million yen%

Million yen

65,051

—

6,082

—

5,604

—

1,654

—

77,485

20.8

5,988

27.5

5,500

9.1

2,261

(1.5)

Net income per share
Yen
Nine months ended
December 31, 2008
Nine months ended
December 31, 2007

Diluted net income per share
Yen

4,768.27—

6,517.58—(2) Financial position
Total assets
Million yen
Nine months ended
December 31, 2008
Year ended
March 31, 2008

Net assets
Shareholders’ equity ratio
Million yen%

Net assets per share
Yen

75,66544,445

57.6

125,669.73

69,16846,331

64.3

128,201.49(Reference) Shareholders’ equity
Nine months ended December 31, 2008: ¥43,607 million
Year ended March 31, 2008: ¥44,485 million
2. Dividends(Record date)Year ended
March 31, 2008
Year ending
March 31, 2009
Year ending March 31,
2009 (Forecast)First quarter-end Second quarter-end
Yen
Yen

Dividend per share
Third quarter-end
Yen—

2,000.00——

2,000.00

—

—

—

—

(Note) Revisions made to projections on dividends for the quarter: No
1

Year-end

AnnualYen

Yen

2,500.00

4,500.00—
2,500.00—
4,500.00

3. Forecast earnings for the year ending March 31, 2009 (April 1, 2008, to March 31, 2009)(Percentages denote year-over-year changes versus the corresponding year-earlier period.)
Net sales
Full year

Million yen
73,000%(28.3)

Operating income

Ordinary income

Net income

Million yen
2,200Million yen%
1,300 (88.9)

Million yen%(1,850) (134.9)%(83.3)Net income
per share
Yen(5,331.41)(Note) Revisions made to the forecast earnings for the quarter: Yes
4. Other information(1) Transfer of important subsidiaries during the period under review (Transfer of specific subsidiaries that results in achange in the scope of consolidation): No(2) Adoption of simplified accounting methods and special accounting methods applicable to preparation of quarterly
consolidated financial statements: Yes(Note) For details, see “4. Other” in Qualitative Information, Financial Statements and Other Data on page 6.
(3) Changes in accounting principles, accounting procedures, presentation method and others in association with the
preparation of quarterly consolidated financial statements (Those which are stated in the “Basis of Presentation of
the Quarterly Consolidated Financial Statements”)
1) Changes due to the revision to the accounting standards, etc.: Yes
2) Changes due to any reason other than those in 1) above: No(Note) For details, see “4. Other” in Qualitative Information, Financial Statements and Other Data on page 6.
(4) Number of shares issued (common stock)1) Number of shares issued (including treasury stock)
Nine months ended December 31, 2008 347,000 sharesYear ended March 31, 2008
347,000 shares
2) Number of treasury stock at end of year
Nine months ended December 31, 2008
Year ended March 31, 2008

— shares— shares

3) Average number of shares outstanding (quarterly consolidated cumulative period)
Nine months ended December 31, 2008 347,000 shares
Nine months ended December 31, 2007 347,000 shares* Explanation on the appropriate usage of forecast earnings and other specific matters(1) The above forecast has been made based on information available as of the date hereof, and actual earnings may
differ from the projected figures due to various factors that may occur subsequently.
(2) The Company has adopted the Accounting Standard for Quarterly Financial Reporting and its Implementation
Guidance (ASBJ Statement No. 12) and the Guidance on Accounting Standard for Quarterly Financial Reporting(ASBJ Guidance No. 14) starting from the current fiscal year. The Company has also prepared quarterly
consolidated financial statements in accordance with the Regulations on Quarterly Financial Reporting.

2

y Qualitative Information, Financial Statements and Other Data
1. Qualitative Information Regarding Consolidated Operating Results(1) Overview of Operations for the Nine Months Ended December 31, 2008
In pursuit of its corporate philosophy of “The Greatest Leisure for All People,” the Company has grown byidentifying business possibilities through anticipating changes occurring among the public with regard to theirlifestyles, environments, and more in response to their ever-increasing amount of leisure time. In particular, theCompany recognizes the importance of digital content as it forms the foundation on which the Company establishes
its competitive edge. Acting on this, in recent years the Company has invested and expanded in diverse fields ofentertainment, ranging from games to sports, movies, animation, publishing, mobile phone content, etc. The idea isto acquire, create and develop copyrights (merchandising rights) that offer superior entertainment features
applicable in the field of pachinko/pachislot machines, which forms the mainstay of the Company’s business, andcontent that open up new customer segments.
The market for leisure services today is experiencing a definite shift in its demand structure as consumers’ interests
and tastes diversify, and is transitioning into one where consumers are particular about where to spend their leisurebudget. The market is entering a time where consumers prioritize entertainment options that attract them most andfocus their investment disproportionately.
Meanwhile, the pachinko industry faces the expectation that it will mature and become sound as it grows into apurveyor of entertainment that need not rely on the element of gambling in order to be chosen and supported byconsumers selective in how and where to invest their leisure time. Within this perspective, exponential advances in
hardware development aspects of pachinko/pachislot machines, including graphics chips and LCD screens, haveheightened the importance of what content to show on them. In the course of competition among the manufacturersof pachinko/pachislot machines, trends have become increasingly pronounced in favor of investing time intoplanning and development to supply exquisitely created machines. This has led to a climate where the acquisitionof high-potential content and the enhancement of planning and development capabilities decide who wins and who
loses.
In this business environment, during the nine months ended December 31, 2008 and on a consolidated basis theCompany posted net sales of ¥65,051 million, operating income of ¥6,082 million, ordinary income of ¥5,604
million, and net income of ¥1,654 million.
During the nine months ended December 31, 2008, the Company recognized extraordinary losses amounting to¥2,142 million. These included loss due to discontinued production incurred by a subsidiary, loss on liquidation ofaffiliate resulting from the liquidation of a subsidiary, as described in the “Notification of Dissolution andLiquidation of Subsidiary Company” announced as of December 9, 2008, and valuation loss on investment
securities.
(2) Analysis of Nine Month Operations by Business Segment
1) Pachinko/Pachislot (PS) Field Segment
During the first half of the current year, the industry voluntarily refrained from replacing machines out ofconsideration for the country’s hosting of the G8 Summit at Lake Toya in July 2008. Despite this, the pachinko
machine sales business reported continued strong sales of CRA Neon Genesis Evangelion Premium Model,
designed less for gambling than for playing for fun, and CR Seven Samurai, a new video entertainment
experience. Likewise, the pachislot machine sales business saw Neon Genesis Evangelion—That time has come,
now they’re waiting for us, highly acclaimed in the marketplace, record blockbuster sales totaling 90,000
machines.
During the third quarter (October–December), in accordance with a plan to aggressively supply the marketplacewith machines that work as entertaining games to meet diverse needs, the pachinko machine sales businessintroduced three models, including CR Virtua Fighter and CR King Kong. Likewise, the pachislot machine sales
business sought to step up sales by marketing two models, Tenchi wo Kurau and Kaiji Act 2.
As a result of the above, during the nine months ended December 31, 2008, with unit sales of pachinko machines
amounting to 192,085 and unit sales of pachislot machines coming to 122,542, the Pachinko/Pachislot (PS) Field
segment posted net sales of ¥52,501 million and operating income of ¥7,712 million.
2) Game Field Segment
During the first half of the current year, following slower growth in sales of darkSector, introduced late in theprevious year by the D3 Inc. group, the Company allocated the estimated cost of implementing a price protection
program. Meanwhile, a high-end game software rendition of CR Neon Genesis Evangelion—The Angels Are Back
Again recorded continued strong sales, along with sales of the Ben10 series and the NARUTO series which
3continued to do well overseas. This however fell short of making up for the negative earnings impact and otherissues experienced during the period.
During the third quarter, a lineup of potential blockbuster titles, including, most prominently, the newest addition
to the Ben10 series, was introduced overseas, while a high-end game software rendition of Neon Genesis
Evangelion—That time has come, now they’re waiting for us hit the domestic market, along with other titles
aimed at achieving better profit margins.
thinkArts Co., Ltd., included in this segment, has been dissolved with its liquidation scheduled to be completed in
March 2009, as described in the “Notification of Dissolution and Liquidation of Subsidiary Company”
announced as of December 9, 2008.
As a result of the above, the Game Field segment posted net sales of ¥8,751 million and operating loss of ¥926
million.
3) Sports Field Segment
During the first half of the current year, sales of sponsorships for a variety of sports activities continued to bestrong, and the athlete management business reported continued strong results benefiting particularly fromoutstanding showings by athletes under contract. The Total Workout operation, a provider of sports solutions,inaugurated a branch in Fukuoka in April, and sought to acquire new members. Meanwhile, the branch at
Ebisubashi in Osaka was closed at the end of September under a program to review the current branch structure
in order to make this business more profitable.
During the third quarter, drastic reviews were undertaken across the sports business, and reforms implemented
particularly to scale down the rights business and to optimize personnel deployment, in accordance with abusiness restructuring plan.
As a result of the above, the Sports Field segment posted net sales of ¥2,995 million and operating loss of ¥437
million.
4) Movies Field Segment
During the first half of the current year, two movies in whose production the Company has invested hit the screen.
One film suffered a quite lackluster performance at the box office, and accordingly the Company has written off
the investment.
During the third quarter, no new investment project was initiated in the movies business, as was the case during
the second quarter (July–September).
Fields Pictures Corporation, included in this segment, has been absorbed and merged into the Company effective
as of January 2009, as described in the “Announcement of Merger of Consolidated Subsidiary (Simplified/ShortForm Merger)” announced as of November 6, 2008.
As a result of the above, the Movies Field segment posted net sales of ¥72 million and operating loss of ¥514
million.
5) Other Field Segment
During the first half of the current year, a mobile content platform operated by FutureScope Corporation beganoffering a new service in June.
During the third quarter, the company focused efforts on putting the new service operation solidly on track. The
company’s mainstay mobile content platform, Fields Mobile, continued to fare well, especially with its paying
membership increasing constantly, benefiting from synergies with merchandise the Company has launched, andreaching approximately 450,000.
White Trash Charms Japan Co., Ltd., included in this segment, has been absorbed and merged into the Company
effective as of January 2009, as described in the “Announcement of Merger of Consolidated Subsidiary(Simplified/Short Form Merger)” announced as of November 6, 2008.
As a result of the above, the Other Field segment posted net sales of ¥1,212 million and operating income of¥261 million.
(Note) Net sales reported by the individual segments are gross of inter-group sales or transfers.

4

2. Qualitative Information on the Consolidated Financial Position(1) Assets, Liabilities and Net Assets(Assets)
Current assets amounted to ¥47,667 million, up ¥8,108 million since the end of the previous year. This primarilyreflected an increase in notes receivable—trade as the collection of sales receivables progressed.
Tangible fixed assets amounted to ¥11,189 million, up ¥3,096 million since the end of the previous year. This
primarily reflected the purchase of land scheduled for the construction of branch office premises to enforce sales
capabilities in the Pachinko/Pachislot (PS) Field segment.
Intangible fixed assets amounted to ¥3,299 million, down ¥637 million since the end of the previous year.
Investments and other assets amounted to ¥13,508 million, down ¥4,070 million since the end of the previous
year. This primarily reflected a decrease in net unrealized holding gain on investment securities.
As a result of the above, total assets amounted to ¥75,665 million, up ¥6,497 million since the end of the previous
year.
(Liabilities)
Current liabilities amounted to ¥25,272 million, up ¥5,949 million since the end of the previous year. This
primarily reflected increases in notes and accounts payable—trade.
Fixed liabilities amounted to ¥5,948 million, up ¥2,434 million since the end of the previous year. This primarilyreflected an increase in corporate bonds payable.
As a result of the above, total liabilities amounted to ¥31,220 million, up ¥8,383 million since the end of theprevious year.
(Net assets)
Net assets amounted to ¥44,445 million, down ¥1,886 million since the end of the previous year. This primarilyreflected decreases in net unrealized holding gain on available-for-sale securities and minority interests.
(2) Cash Flows
During the first nine months of the current fiscal year ending March 31, 2009 (hereinafter referred to as the “ninemonths ended December 31, 2008”), cash and cash equivalents (hereinafter referred to as “cash”) increased ¥82
million since the end of the previous year and amounted to ¥12,776 million at the end of the nine months ended
December 31, 2008.
(Cash flows from operating activities)
Operating activities during the nine months ended December 31, 2008 resulted in a net increase in cash of ¥3,714
million, owing primarily to an increase in notes and accounts receivable—trade, an increase in notes andaccounts payable—trade, interest and dividends received and income taxes paid.
(Cash flows from investing activities)
Investing activities during the nine months ended December 31, 2008 resulted in a net decrease in cash of ¥5,120
million, due primarily to purchases of tangible fixed assets.
(Cash flows from financing activities)
Financing activities during the nine months ended December 31, 2008 resulted in a net increase in cash of ¥1,604
million, primarily because of proceeds from long-term borrowings, proceeds from issuance of corporate bonds,
and cash dividends paid.
3. Qualitative Information on Projections for the Consolidated Business Results
In view of recent business trends and other factors, the performance projections that the Company announced on
May 14, 2008 have been revised. For a detailed discussion, please refer to the “Notification of Revisions to
Performance Projections” announced as of today.
The Company intends to declare a year-end dividend payout of ¥2,500 per share (for an annual aggregate dividendof ¥4,500 per share) with no change in its initial dividend projection.
54. Other(1) Transfer of important subsidiaries during the period under review (Transfer of specific subsidiaries that results in achange in the scope of consolidation)
None(2) Adoption of simplified accounting methods and special accounting methods applicable to preparation of quarterly
consolidated financial statements
1) Method for estimation of general loan losses
Because it was observed at the end of the nine months ended December 31, 2008 that no significant change has
occurred in the Company’s historical loan loss ratio, etc. since the end of the previous year, the Company
determines an estimate of loan losses by employing the historical loan loss and other ratios computed at the endof the previous year.
2) Method for valuation of inventories
For the purpose of valuing inventories at the end of the nine months ended December 31, 2008, the Company
dispenses with physical inventorying and applies a reasonable valuation method on the basis of the value of
inventories physically verified at the end of the previous year.
3) Method for determination of deferred tax assets and deferred tax liabilities
For evaluating deferred tax assets for recoverability, if it has been observed that no significant change has
occurred in the Company’s business environment and other conditions or the occurrence of temporary and other
differences since the end of the previous year, the Company applies the method that employs the same futurebusiness performance projections and tax planning that were used at the end of the previous year.
4) Simplified accounting for offsetting and elimination of intercompany receivables and payables and transactions
among consolidated companies
During the offsetting and elimination of intercompany receivables and payables among consolidated companies,
if the Company finds a discrepancy between the amounts receivable and payable, we offset and eliminate themagainst each other, to the extent that elimination is reasonable, without reconciling such discrepancy.
And during the offsetting and elimination of intercompany transactions among consolidated companies, if theCompany finds a discrepancy in transaction amounts, we apply the method that causes the different amounts toalign with the amount recorded by the parent company, for the offsetting and elimination of transactions,provided that such discrepancy is insignificant.
5) Simplified accounting for elimination of unrealized gains and losses
In eliminating unrealized gains and losses remaining at the end of each fiscal quarter on inventory assets acquiredin intercompany transactions among consolidated companies, if the Company observes that no significant change
has occurred since the previous year in the circumstances in which the transaction took place, the Company uses
the gain or loss ratio used for the previous year.
6) Assessment of tax expenses
The Company applies the method that reasonably estimates an effective tax rate to be assessed on income before
income taxes for the current year after accounting for the tax effects of temporary differences and multiplies
income before income taxes during the third quarter of the current year by such estimated effective tax rate.

6

(3) Changes in accounting principles, accounting procedures, presentation method, etc. in association with the
preparation of quarterly consolidated financial statements
1) The Company has adopted the Accounting Standard for Quarterly Financial Reporting and its Implementation
Guidance (ASBJ Statement No. 12, issued by the Accounting Standards Board of Japan on March 14, 2007) and
the Guidance on Accounting Standard for Quarterly Financial Reporting (ASBJ Guidance No. 14, issued by the
Accounting Standards Board of Japan on March 14, 2007) starting from the first quarter of the current year. The
Company has also prepared quarterly consolidated financial statements in accordance with the Regulations on
Quarterly Financial Reporting.
2) Adoption of accounting standards pertaining to valuation of inventories
Effective with the first quarter of the current year, the Company adopts the Accounting Standard for Valuation of
Inventories (ASBJ Statement No. 9, issued by the Accounting Standards Board of Japan on July 5, 2006) andchanges its valuation policy from the cost method to a cost basis (which reduces the book value of assets whose
profitability is diminished).
This change has no effect on income.
3) Adoption of tentative treatments applicable to accounting for foreign subsidiaries in preparation of consolidated
financial statements
Effective with the first quarter of the current year, the Company adopts the Practical Solution on Unification of
Accounting Policies Applied to Foreign Subsidiaries for Consolidated Financial Statements (ASBJ PITF No. 18,
issued by the Accounting Standards Board of Japan on May 17, 2006) and performs required reconciliations in
the consolidation accounting process.
This application has no effect on income.

75. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Unit: Million yen)
Condensed consolidatedbalance sheet at
end of previous year
(March 31, 2008)

Nine months ended
December 31, 2008
(December 31, 2008)
AssetsCurrent assets
Cash and cash equivalents

12,902

12,841

Notes and accounts receivable—trade

21,793

12,354Inventories

3,759

4,013

Other current assets

9,396

10,442

Allowance for doubtful accounts

(184)

(92)

Total current assets

47,66739,55911,189

8,093

640

1,057

Other intangible fixed assets

2,658

2,880

Total intangible fixed assets

3,299

3,937

Investment securities

8,926

13,212Other assets

4,895

4,721

Allowance for doubtful accounts

(313)

(355)

Total investments and other assets

13,50817,57827,99829,60975,665

69,168Fixed assets
Tangible fixed assets
Intangible fixed assets
Goodwill

Investments and other assets

Total fixed assets
Total Assets
Liabilities
Current liabilities
Notes and accounts payable—trade

15,990

5,954

Short-term borrowings

3,396

3,398

Corporate bonds redeemable within 1 year

720

120

Current portion of long-term borrowings

993

804

-

3,743

Accrued bonuses

18

174

Accrued bonuses to directors and auditors

187

128

Allowance for losses on order receiving

24

49

Allowance for losses on relocation of offices

35-

Other current liabilities

3,904

4,948

Total current liabilities

25,272

19,322

2,290

250

Long-term borrowings

800

434

Retirement benefit provisions

238

211

Other fixed liabilities

2,620

2,618

Total fixed liabilities

5,948

3,514

31,22022,836

Accrued income taxes

Fixed liabilities
Corporate bonds

Total Liabilities8

(Unit: Million yen)
Condensed consolidatedbalance sheet at
end of previous year
(March 31, 2008)

Nine months ended
December 31, 2008
(December 31, 2008)
Net assets
Shareholders’ equity
Common stock

7,948

7,948

Capital surplus

7,994

7,994

Retained earnings

28,94528,852

Total shareholders’ equity

44,88844,795(1,114)(249)

Foreign currency translation adjustment

(166)

(59)

Total valuation and translation differences(1,280)(309)

Valuation and translation differences
Unrealized holding gain on available-for-salesecurities

Stock acquisition rights

66

43

Minority interest

771

1,802

Total net assets

44,44546,33175,665

69,168

Total Liabilities and Net Assets

9(2) Quarterly Consolidated Statement of Income[Nine months ended December 31, 2008](Unit: Million yen)

Net sales

Nine months ended
December 31, 2008
(April 1, 2008–December 31, 2008)
65,051

Cost of sales

42,350Gross profit

22,701

Selling, general and administrative expenses

16,619Operating income

6,082

Non-operating income
Interest income

27

Dividend income

188

Others177

Total non-operating income

393

Non-operating expenses
Interest expense

98

Corporate bond issuance expenses

51

Foreign exchange loss

383

Equity method investment loss

96

Amortization of equity investment

69

Others171

Total non-operating expenses

870

Ordinary income

5,604

Extraordinary income
Gain on investment in anonymous association

83

Insurance proceeds received

110

Others3

Total extraordinary income

197

Extraordinary losses
Loss on correction of gain or loss in previous year

4

Loss on sale of fixed assets

0

Impairment loss

148

Loss due to disaster99

Valuation loss on investment securities

693

Loss due to discontinued production

502

Loss on liquidation of affiliates

545

Others148

Total extraordinary losses

2,142

Income before income taxes and minority interest

3,659

Current income taxes

2,932

Minority interest(926)

Net income

1,654

10

(3) Quarterly Consolidated Statement of Cash Flows(Unit: Million yen)
Nine months ended
December 31, 2008
(April 1, 2008–December 31, 2008)
Cash flows from operating activities
Income before income taxes and minority interest

3,659

Depreciation and amortization

1,314

Impairment loss

148

Amortization of goodwill

309

Increase (decrease) in allowance for doubtful
accounts

50

Increase (decrease) in accrued bonuses(156)

Increase (decrease) in accrued bonuses to directors
and auditors

59

Increase (decrease) in retirement benefit provisions

26

Interest and dividend income(217)

Discounts on purchases(31)

Equity method investment loss (gain)

96

Interest expense

98

Valuation loss (gain) on investment securities

693

Decrease (increase) in notes and accounts
receivable—trade(10,412)

Decrease (increase) in inventories

188

Decrease (increase) in merchandising rightadvances

519

Increase (decrease) in notes and accounts
payable—trade

10,923

Increase (decrease) in accrued consumption taxes(168)

Others1,114

Sub total

8,217Interest and dividends received

2,323Interest paid

(87)

Insurance proceeds received

110

Income taxes paid

(6,849)Net cash provided by (used in) operating activities

3,714

Cash flows from investing activities
Purchases of tangible fixed assets(4,637)Purchases of intangible fixed assets(346)

Purchases of investment securities(266)

Expenditure for equity investment(39)

Others170

Net cash provided by (used in) investing activities(5,120)11

(Unit: Million yen)
Nine months ended
December 31, 2008
(April 1, 2008–December 31, 2008)
Cash flows from financing activities
Net increase (decrease) in short-term borrowings(1)

Proceeds from long-term borrowings

1,200

Repayment of long-term borrowings(644)

Proceeds from issuance of corporate bonds

2,948

Expenditure for redemption of corporate bonds(360)

Cash dividends paid

(1,489)Cash dividends paid to minority shareholders(24)

Others(23)

Net cash provided by (used in) financing activities

1,604

Effect of exchange rate changes on cash and cash
equivalents(116)

Increase (decrease) in cash and cash equivalents

82

Cash and cash equivalents at beginning of period

12,693

Cash and cash equivalents at end of period

12,776

12

The Company has adopted the Accounting Standard for Quarterly Financial Reporting and its Implementation
Guidance (ASBJ Statement No. 12) and the Guidance on Accounting Standard for Quarterly Financial Reporting(ASBJ Guidance No. 14) starting from the current fiscal year. The Company has also prepared quarterly consolidated
financial statements in accordance with the Regulations on Quarterly Financial Reporting.
(4) Note Regarding the Operation of the Company as a Going Concern
Nine months ended December 31, 2008 (April 1, 2008–December 31, 2008)
No relevant items(5) Segment Information[Segment information by business category]Nine months ended December 31, 2008 (April 1, 2008–December 31, 2008)
Pachinko/
Elimination
Total
ConsolidatedorPachislot Game Field Sports Field Movies Field Other Field(PS) Field (Million yen) (Million yen) (Million yen) (Million yen) (Million yen) incorporation (Million yen)
(Million yen)
(Million yen)
Net sales(1) Sales to third parties(2) Inter-group sales ortransfers
Total
Operating income (loss)

52,150

8,668

2,957

72

1,202

65,051—65,051

350

82

37

—

9

480

(480)

—

52,501
7,712

8,751
(926)

2,995
(437)

72
(514)

1,212
261

65,532
6,095

(480)
(13)

65,051
6,082(Notes) 1. Based on the proximity of products or services, etc. provided, the Company’s businesses are segmented
into Pachinko/Pachislot (PS) Field, Game Field, Sports Field, Movies Field and Other Field.
2. The major products or services in each segment are as follows:(1) Pachinko/Pachislot (PS) Field: Purchasing, sales, planning and development of pachinko/pachislot
machines and related services(2) Game Field: Planning, development, sales, etc. of packaged software, such as game software(3) Sports Field: Sports management and related activities(4) Movies Field: Movie production, digital content creation and copyright acquisition(5) Other Field: Planning, production, etc. of animation
3. Resegmentation of operations
In previous years, the sports management business and the movie business have been included in the
Other Field segment. Because these businesses are now significant in value, the Company resegmented
its operations to separate and disclose these businesses in segments called the Sports Field segment andMovies Field segment, respectively, effective with the first quarter of the current year.
This has no impact on segment information.
[Segment information by region]
Nine months ended December 31, 2008 (April 1, 2008–December 31, 2008)
Segment information by region is omitted, since Japan accounted for more than 90% of total net sales across all
segments.
[Overseas sales]
Nine months ended December 31, 2008 (April 1, 2008–December 31, 2008)
Information on overseas sales is omitted, since overseas sales accounted for less than 10% of consolidated net sales.
(6) Note Regarding Occurrence of Significant Change in Amount of Shareholders’ Equity
Nine months ended December 31, 2008 (April 1, 2008–December 31, 2008)
No relevant items
13

[For reference]
Consolidated Statement of Income for nine months ended December 31, 2007

Item
I

Nine months ended
December 31, 2007
(April 1, 2007–December 31, 2007)
Amount (million yen)% sales

Net sales

77,485

100.0

II Cost of sales

56,20472.5

Gross profit

21,28027.5

15,292

19.8

Operating income

5,988

7.7

IV Non-operating income

269

0.4

V Non-operating expenses

757

1.0

Ordinary income

5,500

7.1

VI Extraordinary income

48

0.1

VII Extraordinary losses

969

1.3

Income before income taxes and minority interest

4,579

5.9

Current income taxes

2,874

3.7

Deferred income taxes

(557)

(0.7)

0

0.0

2,261

2.9

III Selling, general and administrative expenses

Minority interests
Net income

146. Other Information(Sale of Shares in Significant Subsidiary Company)
Fields Corporation hereby announces that the Board of Directors of the Company convened and resolved on
February 12, 2009, to tender all shares held by the Company in D3 Inc., its consolidated subsidiary, in acceptanceof a tender offer to be commenced by NAMCO BANDAI Games Inc.
1. Reason for Sale of SharesWith significant changes occurring in its external market environment, the Company has launched its
Medium-Term Management Plan commencing with the current fiscal year. Along the way, the Company has
reviewed its current group business strategy, and according to the results it is imperative to concentrate manybusiness resources in the field of pachinko/pachislot machines, which forms the core of the Company’s business.
This involves the temporary curtailment and streamlining of investments, etc., in operations other than those that
require time before synergies with the field of pachinko/pachislot machines may be achieved and those that are in
strategic areas that need to be developed until they are in a class of their own. The Company has consulted with
D3 Inc. to explore third-party cooperation and other sustainable ways in which the latter can remain active andcompetitive in its primary business lines of home video game software and mobile content.
The Company has decided to accept this tender offer, because it has concluded that the offer aligns with thedirection in which the Company plans to lead its business. In particular, the tender offer can benefit theCompany’s growth in the field of pachinko/pachislot machines. This is because (1) the proceeds raised and set
aside may be funneled into acquiring copyrights (merchandising rights) that connect directly with the field of
pachinko/pachislot and into enhancing product planning and development capabilities; and because (2) the deal
may pave the way for building a friendly relationship with NAMCO BANDAI Games Inc., which has a richreservoir of content to offer.
Following successful completion of the tender offer, the Company intends to maintain the mutually beneficial
business aspects of its relationship with D3 Inc. The Company also expects to build collaborative arrangements
vis-à-vis NAMCO BANDAI Games Inc. that will bring the two companies’ strengths to bear upon futurebusiness undertakings.
2. Overview of D3 Inc.
(1) Company name

D3 Inc.

(2) Main business activities

Planning and sales of home video game software, etc., and related operations
Development of home video game software, etc., and related operations
Planning and distribution of video game content, etc., for mobile phones, andrelated operations(3) Establishment

February 5, 1992

(4) Head office

1-9-5 Dogenzaka, Shibuya-ku, Tokyo(5) Representative

Yuji Ito, President and CEO(6) Paid-in capital¥1,738 million (as of December 31, 2008)(7) Fiscal year end

March 31

(8) Financial results
Business year

16th year

17th year

Fiscal year closed in

March 2007

March 2008

Net sales¥9,784 million¥14,286 million

Operating income¥542 million¥1,069 million

Ordinary income¥594 million¥414 million

Net income¥147 million¥293 million

Total assets¥8,804 million¥13,519 million

Net assets¥4,019 million¥4,206 million

15

3. Outline of Acceptance of Tender Offer
Number of shares held previous to offer

12,000 shares (57.04% of all outstanding stock)

Number of shares scheduled to be tendered for offer

12,000 shares (57.04% of all outstanding stock)

Number of shares scheduled to be held subsequent to offer
Sale price0 shares (0% of all outstanding stock)¥62,000 per share

4. Timeline
February 12, 2009

Board of Directors resolution

February 13, 2009

Date of public notification of commencement of tender offer

March 16, 2009

Final date of tender offer period

March 24, 2009

Date of settlement of shares tendered

5. Overview of NAMCO BANDAI Games Inc.
(1) Company name

NAMCO BANDAI Games Inc.

(2) Main business activities

Planning, development and sales of home video game content
Planning, development and sales of arcade game machines
Planning, development and sales of mobile content, etc.

(3) Establishment

June 1, 1955

(4) Head office

4-5-15 Higashi-Shinagawa, Shinagawa-ku, Tokyo(5) Representative

Shukuo Ishikawa, President and CEO(6) Paid-in capital¥15,000 million (as of December 31, 2008)(7) Fiscal year end

March 31

6. Future Outlook
Upon full settlement of all shares to be tendered for this offer, D3 Inc. will be deconsolidated as a subsidiary of
the Company. As a result of accepting this tender offer, the Company is likely to recognize under extraordinary
losses a loss on sale of shares in affiliate of approximately ¥300 million in its earnings results.

16