Summary(Translation)
Fields Corporation
Summary of Financial Information and Business Results (Consolidated)
for the Year Ended March 31, 2011 (Japan GAAP)May 12, 2011
Listed on: OSE [JASDAQ]
Company Name:

Fields Corporation(URL: http://www.fields.biz/)
Stock code:
2767
Representative Director:
Takashi Oya
President and COO
Inquiries:
Hideaki Hatanaka
Executive Officer, General Manager, Corporate Communications OfficeTel:+81-3-5784-2111
June 22, 2011
Planned Date for Ordinary General Meeting of Shareholders:June 23, 2011
Planned Date for Start of Dividend Payment:
June 22, 2011
Planned Date for Submittal of the Financial Statements Report:
Yes
Full year earnings supplementary explanatory materials:
Yes (For institutional investors and security analysts)
Full year earnings presentation:(Rounded down to the nearest million)
1. Consolidated business results for the year ended March 31, 2011 (April 1, 2010, to March 31, 2011)(1) Operating results(Percentage figures denote year-over-year changes.)
Net sales
Operating income
Ordinary income
Million yen%
Million yen%
Million yen%
Year ended
103,593
56.2
13,136
61.7
13,684
76.3
March 31, 2011
Year ended
66,342(9.2)
8,124 314.3
7,761 682.9
March 31, 2010
Net income
Net income per share
Diluted net income per share
Million yen
%
Yen
Yen
Year ended
7,520 128.6
22,643.86―
March 31, 2011
Year ended
3,289―
9,796.56―
March 31, 2010
(Note) Comprehensive income
Year ended March 31, 2011: ¥7,382 million (105.1%) Year ended March 31, 2010: ¥3,598 million (―%)
Return on equity%

Ordinary income to total assets%

Year ended
17.1
March 31, 2011
Year ended
8.2
March 31, 2010
(Reference) Equity in earnings of affiliates
Year ended March 31, 2011: ¥552 million Year ended March 31, 2010: ¥(258) million

Operating margin
%

17.1

12.7

11.6

12.2

(2) Financial position
Total assets

Shareholders’ equity
ratio%

Net assets

Million yen
Million yen
Year ended
78,97147,021March 31, 2011
Year ended
81,32941,187
March 31, 2010
(Reference) Shareholders’ equity
Year ended March 31, 2011: ¥46,779 million Year ended March 31, 2010: ¥41,064 million

Net assets per share
Yen

59.2

140,853.00

50.5

123,645.89(3) Cash flows

Year ended
March 31, 2011
Year ended
March 31, 2010

Cash and cash equivalents
Cash flow fromfinancing activities
at end of year
Million yen
Million yen

Cash flow fromoperating activities
Million yen

Cash flow frominvesting activities
Million yen

8,005(4,356)(3,915)

15,632

8,429(1,011)(2,687)

15,906

2. Dividends

Year ended
March 31, 2010
Year ended
March 31, 2011
Year ending March 31,
2012 (Forecast)First
quarter-end
Yen

Secondquarter-end
Yen

Annual dividends
Thirdquarter-end
Yen―

2,000.00――

Year ended
March 31, 2010
Year ended
March 31, 2011
Year ending March 31,
2012 (Forecast)

AnnualYen

Yen―

2,500.00

4,500.00

2,500.00―

2,500.00

5,000.00

2,500.00―

2,500.00

5,000.00

Million yen%

Dividend on
equity ratio(consolidated)
%

1,503

45.9

3.7

1,660

22.1

3.8

Total dividend(annually)

Year-end

Payout ratio(consolidated)

20.8

3. Forecast earnings for the year ending March 31, 2012 (April 1, 2011, to March 31, 2012)(Percentages denote year-over-year changes versus the corresponding year-earlier period.)
Net income
Net sales
Operating income
Ordinary income
Net income
per share
Million yen% Million yen% Million yen% Million yen%
Yen
First half
―
―
―
―
―
―
―
―
―
Full year
100,000(3.5)
14,000
6.6
8,000
6.4
14,0002.3
24,088.04(Note) The Company will disclose the first half forecast earnings for the year ending March 31, 2012 shortly, as soon as they havebeen finalized. For details, refer to “[3] Forecast earnings for the year ending March 31, 2012” under “(1) Analysis of operating
results” in Section 1, “Operating results” on page 5.
4. Other information(1) Transfer of important subsidiaries during the year under review (Transfer of specific subsidiaries that results in a change in thescope of consolidation): No
New consolidation- firms
Deconsolidation- firms(2) Changes in accounting principles, accounting procedures, presentation method and other factors
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 “Change in the basis of presentation of the consolidated financial statements” on page 24 in theattached document.
(3) Number of shares issued (common stock)1) Number of shares issued (including treasury stock)
Year ended March 31, 2011
347,000 sharesYear ended March 31, 2010
347,000 shares
2) Number of treasury stock at end of year
Year ended March 31, 2011
14,885 sharesYear ended March 31, 2010
14,885 shares
3) Average number of shares outstanding
Year ended March 31, 2011
332,115 sharesYear ended March 31, 2010
335,749 shares(Note) For the number of shares used as the calculation basis for net income per share (consolidated), see the “Per-share data”
on page 37 in the attached document.
* Presentation of implementation status for audit procedures
The audit procedures based on the Financial Instruments and Exchange Act do not apply to this Consolidated Financial Results, andthe audit procedures based on the Financial Instruments and Exchange Act have not been completed as of the release of thisdocument.
* Explanation on the appropriate usage of forecast earnings and other specific matters
The forward-looking statements made in this report such as performance perspective are based on currently available information andcertain premises that are judged reasonable by management. There are many uncertain factors inherent in forecasting, and there might
be cases in which actual results of future business operations and/or events differ from our forecasts depending on changes in diverse
conditions. Please see “[3] Forecast earnings for the year ending March 31, 2012” under “(1) Analysis of operating results” in Section
1 “Operating results” on page 5 in the attached document with regard to the cautions in using assumptions as the premise for forecast
earnings and in using the forecast earnings.

{ Table of Contents of Attached Document
1.

Operating results.............................................................................................................................. 2(1) Analysis of operating results ....................................................................................................... 2(2) Analysis of financial position...................................................................................................... 6(3) Fundamental corporate policy for distributing profits and dividends for the current andnext fiscal years........................................................................................................................... 7

2.

Outline of the Fields group .............................................................................................................. 83.

Operating policies............................................................................................................................ 9(1) Fundamental corporate management policy................................................................................ 9(2) Targeted management indicators ................................................................................................. 9(3) Management strategies for the medium to long term and issues to address ................................ 9(4) Other important matters affecting corporate management .......................................................... 94.

Consolidated financial statements ................................................................................................. 10(1) Consolidated balance sheets...................................................................................................... 10(2) Consolidated statements of income and consolidated statements of comprehensive income .... 12(3) Consolidated statement of change in net assets......................................................................... 15(4) Consolidated statements of cash flows...................................................................................... 17(5) Note regarding the operation of the company as a going concern............................................. 19(6) Basis of presentation of the consolidated financial statements.................................................. 19(7) Change in the basis of presentation of the consolidated financial statements............................ 24(8) Notes to the consolidated financial statements.......................................................................... 27(Consolidated balance sheets) ................................................................................................. 27(Consolidated statements of income) ...................................................................................... 28(Consolidated statements of comprehensive income) ............................................................. 29(Consolidated statements of changes in net assets) ................................................................. 29(Consolidated statements of cash flows) ................................................................................. 31(Segment information) ............................................................................................................ 32(Per-share data) ....................................................................................................................... 37(Significant subsequent events)............................................................................................... 38

5.

Others ............................................................................................................................................ 40(1) Personnel change in officers...................................................................................................... 40(2) Others........................................................................................................................................ 40* The Company plans to hold a presentation for investors as follows. Materials, videos, main Q&A, and otherdata distributed at the presentation will be posted at the Company’s website immediately after the meetingis held.
• May 13, 2011 (Friday): Presentation on the financial results for the year ended March 31, 2011 forinstitutional investors and analysts* In addition to the presentation mentioned above, the Company holds presentations for individual investors
concerning its business operations and financial results as necessary. Please confirm plans for suchpresentations and other events on the Company’s website.

-1-1. Operating results(1) Analysis of operating results[1]

Overview of operations for the year ended March 31, 2011
During the year ended March 31, 2011, the Company saw its revenue and profit grow substantially compared to the previous
year: net sales were ¥103,593 million (56.2% up year-over-year), operating income ¥13,136 million (61.7% up year-over-year),and ordinary income ¥13,684 million (76.3% up year-over-year).
The major contributing factor behind this strong performance was the fact that in sales of pachislot machines, in addition tostrong additional orders for such machines as Onimusha: Dawn of Dreams, which was launched in March 2010, sales of newmodels such as Ore no Sora―Spirit of Young Justice and MOBASLO Evangelion—for your own wish continued to be strong,registering the highest-ever number of machines sold. As a result, there was substantial growth in both net sales and profits.
Furthermore, with the addition of Tsuburaya Productions Co., Ltd. and Digital Frontier Inc. as its consolidated subsidiaries in
April 2010, the Company made progress in improving the profitability of its Group’s business, and this also contributed to theimprovement in the Company’s business performance.
The Company posted an extraordinary income of ¥215 million and an extraordinary loss of ¥488 million, and as a result, net
income for the year ended March 31, 2011 was ¥7,520 million (128.6% up year-over-year).
The following is an overview of each business segment.

[2]

Analysis of operations for the year ended March 31, 2011 by business segment[Pachinko/Pachislot (PS) Field segment]
In the pachinko/pachislot market, while the number of pachinko machines installed during the year ended March 31, 2011
remained almost at the same level as in the previous year, that of pachislot machines started to rise after it had bottomed out inrecent years. The number of pachinko halls continued to fall, but the number of machines installed per hall grew 2.4% yearover-year, because pachinko halls became increasingly large with the consolidation of small halls, the opening of new halls,
and other developments. As a result, the total number of machines installed in the market rose 1.0%, an indication that themarket has started to grow, though slightly, and is moving toward recovery (according to a National Police Agency survey).
In this environment, the pachinko machine sales market saw the replacement of old machines with new ones, the linchpin ofinvestments to attract customers, remain sluggish partly because of the spread of low-priced ball lease sales in which demand
for used machines was relatively high, and as a result, the number of machines sold continued to fall. Meanwhile, sales of
attractive large-machine series continued to be strong.
The number of pachislot machines sold increased steadily because particular models became increasingly popular.

Responding precisely to these market changes, the Company strove to increase its market share* in terms of the number ofmachines sold by introducing more elaborately manufactured, high entertainment value models.
During the year ended March 31, 2011, additional orders for two of the Company’s pachislot machines, Onimusha: Dawn ofDreams and Neon Genesis Evangelion—Die Spur der SEELE, continued to be strong because they were highly rated in themarket. In addition, the Company started sales of six new models, including the Ore no Sora―Spirit of Young Justice series,
commemorating Rodeo’s 10th anniversary, and MOBASLO Evangelion—for your own wish (sales continued) with
“MOBASLO” functions that provide new entertainment services, and as a result, it recorded the highest-ever number ofpachislot machines sold.
Due to the effects of the Earthquake in Eastern Japan,the delivery date for MOBASLO Evangelion—for your own wish,
launched in late March 2011, was postponed to the next term at the request of some customers, but since the businessperformance for the nine months of the year ended March 31, 2011 was strong, the effects of the earthquake on the financial
results for the year ended March 31, 2011 were limited.
In sales of pachinko machines, the Company marketed a total of four models, including CR Evangelion—Evangelical of the
beginnings, which became a big hit.
In January 2011, the Company acquired from AQ INTERACTIVE INC. 85% of shares in MICROCABIN CORP., which
focuses on development of visual software for the liquid crystal display of pachinko/pachislot machines, and made the softwaredeveloper its consolidated subsidiary.
The number of pachinko machines sold during the year ended March 31, 2011 was 262,614 (68,120 down year-over-year), andthe Company’s market share in terms of the number of machines sold was 9.1%, almost the same level year over year. The
number of pachislot machines sold was 217,659 (98,513 up year-over–year), and the Company’s market share in terms of thenumber of machines sold grew substantially, registering a 5.6 percentage-point increase year over year to 24.5%, andcontinuing to maintain the Company at the top position in the industry. As described above, pachislot machine sales drove theCompany’s sales performance, and as a result, the Pachinko/Pachislot (PS) Field segment posted net sales of ¥94,115 million(50.9% up year-over-year) and operating income of ¥12,866 million (58.2% up year-over-year), respectively.
* Market share in terms of the number of machines sold is based on surveys conducted by the Company.

-2-

<Pachinko/Pachislot machine titles sold during the year ended March 31, 2011>
Month released

Pachinko machine sales titles
CR Evangelion—Evangelical of the beginnings
CR Shimizu no Jirocho Light ver.

June 2010(Bisty Co., Ltd.)

August 2010

(Bisty Co., Ltd.)CR Evangelion—Evangelical of the beginnings Light ver.

November 2010

(Bisty Co., Ltd.)CR Kung Fu Panda

February 2011

(Bisty Co., Ltd.)

Total number of pachinko machines sold (machines)

262,614Month released

Pachislot machine sales titles[Still on sale from the previous period]
Neon Genesis Evangelion—Die Spur der SEELE[Still on sale from the previous period]
Onimusha: Dawn of Dreams
GameraMarch 2010

(Bisty Co., Ltd.)March 2010(Rodeo Co., Ltd.)

June 2010(Rodeo Co., Ltd.)

Magical Shopping Arcade Abenobashi

August 2010

(Bisty Co., Ltd.)Ore no Sora―Spirit of Young JusticeDecember 2010(Rodeo Co., Ltd.)

GravionJanuary 2011(Rodeo Co., Ltd.)

Sengoku BASARA 2

February 2011

(Enterrise Co., Ltd.)March 2011

(Bisty Co., Ltd.)MOBASLO Evangelion—for your own wish
Total number of pachislot machines sold (machines)

217,659(Note) The total number of pachinko/pachislot machines sold includes the number of machines other than the above titles sold via agency sales.

[Mobile Field segment]
Both the mobile and PC Internet user environment in Japan continued to develop during the year ended March 31, 2011 backed
by the offering of increasingly high-speed communications and the improvement of communication access networks.
Particularly in mobile communications, the spread of smart phones proceeded at full speed, and there was growing demand forentertainment content, such as video games and electronic books.
In this market environment, in addition to expanding online services that make the most of PS-related contents, a Company
stronghold, the Company actively invested in the development of new services utilizing its own content in other areas during
the year ended March 31, 2011 with the aim of increasing the number of pay subscribers.
Sales of “Fields Mobile” mobile content continued to be strong due to synergy effects with sales of pachinko/pachislot
machines. In addition, those of “Sha-Me-Ji” mobile content achieved greater growth than initially expected, as the Company
began the new service to create a new form of communication culture. The Company stepped up its efforts to respond to thefast-growing market for next-generation mobile terminals, such as smart phones, chiefly by beginning to distribute applications
for pachislot machine simulators. Furthermore, as part of its cross-media marketing of products from the Pachinko/Pachislot(PS) Field and Mobile Field segments, the Company launched 2 new services: “MOBASLO”, which is linked to MOBASLO
Evangelion—for your own wish, and “Pspace”, which realizes an on-line hall.
Founded in December 2010 through joint investment between NHN Japan Corporation which operates the Hangame online
game portal site, and the Company, IP Bros. Incorporated established a system to provide diverse platforms with intellectual
property (IP) owned by the Fields Group and its partner companies.
As a result of the above, the Mobile Field segment posted net sales of ¥2,032 million (11.6% up year-over-year) and operating
income of ¥236 million (39.9% down year-over-year), respectively.
[Sports Entertainment Field segment]
During the year ended March 31, 2011, the Company continued to strive to improve the management of sports-related businessas it did in the previous year.
Japan Sports Marketing Inc. began to review its athlete management services drastically to take rapid changes in the market
environment into consideration.
In the fitness club business, the Company has provided professional services for professional athletes and high value added
services for health-conscious people for some time. The Company continued to offer both of these under the Total Workout
brand, and strove to acquire new members by emphasizing the high quality of the two services. It also continued to promote
development of programs that would directly meet the leisure needs of many people.
As a result of the above, the Sports Entertainment Field segment posted net sales of ¥2,171 million (10.1% down year–overyear) and operating loss of ¥290 million (operating loss of ¥324 million for the previous year).

-3-

[Other Field segment]
During the year ended March 31, 2011, the Company newly consolidated Tsuburaya Productions Co., Ltd., a holder of highly
regarded IP such as the Ultraman Series, and Digital Frontier Inc., one of Japan’s major computer graphics production
companies, as its subsidiaries, and actively developed new businesses to expand its Group’s business operations. Furthermore,
the Company and Shogakukan Creative Inc. jointly established a new publishing company called HERO’S to makepreparations for new businesses, such as publication of a monthly comic magazine, thus concentrating on strengthening thefoundation needed to develop and create excellent IP, because there was a tendency for such IP to run out. Tsuburaya
Productions Co., Ltd., meanwhile, took various measures to revitalize its IP, mainly by releasing newly produced movies andlaunching a project to commemorate the 45th anniversary of the Ultraman Series.
In addition to producing computer graphics for video game consoles and pachinko/pachislot machines, Digital Frontier Inc.
expanded its video production business utilizing high-level VFX technology by, for example, producing visual effects (VFX)for the movie GANTZ, which was released in January 2011.
Lucent Pictures Entertainment, Inc. made the most of its technology related to 3D video to establish closer cooperation with its
partner companies in Japan and abroad and advanced its initiatives for releasing new work.
As a result of the above, the Other Field segment posted net sales of ¥5,881 million (849.7% up year-over-year) and operating
income of ¥315 million (operating loss of ¥70 million for the previous year), respectively.
(Note) Net sales reported by the individual segments are gross of inter-group net sales or transfers.

-4-

[3]

Forecast earnings for the year ending March 31, 2012 (April 1, 2011 to March 31, 2012)
The full-year forecast for the year ending March 31, 2012 is as follows:(Unit: Million yen)
Forecast for the year ending
March 31, 2012
100,000

Results for the year ended
March 31, 2011
103,593

Operating income

14,00013,136+6.6%

Ordinary income

14,00013,684+2.3%

Net income

8,000

7,520

+6.4%

Net sales

Year-over-year change−3.5%With “The Greatest Leisure for All People” as its corporate philosophy, the Company recognizes that the strategy of utilizing IP
for multiple purposes is the basis of its competitive edge, and is promoting diverse content businesses to produce synergistic
effects through multiple use of content in a wide range of entertainment areas such pachinko/pachislot as well as mobile
content, sports, image, publications, and animations.
In the Pachinko/Pachislot Field, the Company’s core business, the Company is engaged in basic research to upgrade its
planning and development capabilities with the aim of making the most of content that can be enjoyed by more people to create
products that not only interest its existing fans but that can also acquire new customers. In particular, the Company viewsstudies of “hero stories,” which are widely accepted by the Japanese as sources of popular culture and highly compatible withpachinko/pachislot, as an essential initiative for producing products with higher added value, and is striving to achieving aquality of planning and development comparable to that attained in other forms of entertainment.
In the online service area, including mobile content, which is the second pillar of growth, the Company has taken various
measures to increase the number of pay subscribers, including launching new services that achieve the cross-media marketingof products from the Pachinko/Pachislot (PS) Field and Mobile Field segments, stepping up efforts to respond to thenext-generation mobile terminal market, including smart phones, and establishing a joint venture firm to plan and produce
digital content making the most of diverse IP. In the future, the Company will first bring steady results by continuing tostrengthen these initiatives and then develop them into pillars of businesses that follow the Pachinko/Pachislot Field.
In other entertainment areas, including videos, publications, and animations, the Company will capture new business
opportunities by making the most of content in a way that suits the characteristics of each medium used.
With respect to forecast earnings for the year ending March 31, 2012 in the Pachinko/Pachislot Field, there is concern about theeffects of the Earthquake in Eastern Japan on pachinko halls. In addition, it is expected that due to shortages of parts and otherfactors, some of the pachinko/pachislot manufacturers will produce and ship products later than initially planned. Therefore, itis necessary to carefully consider when the Company should introduce new products into the market. For these reasons, at thetime when it announces these financial results, the Company will refrain from disclosing forecast earnings for the first six
months of the year ending March 31, 2012.
As expected, immediately after the earthquake, the Company and its affiliated manufacturers took various measures such as
ensuring stable supply of parts. For this and other reasons, the Company plans to put in place a system that enables it to startsales of several new products within this fiscal year and to release large, ambitious titles. In addition, the active development of
the Group’s businesses is contributing more greatly to consolidated profits, and these businesses are steadily boosting theGroup to new growth with content business as its core. Based on this, the full-year forecast for the year ending March 31, 2012
has been made as described above.
For the year ending March 31, 2012, the Company plans to continue paying the same amount of dividend as in the year ended
March 31, 2011, but it will contribute to shareholder income by aiming to pay the largest-ever dividend through achievement offurther growth.

-5-(2) Analysis of financial position[1]

Assets, liabilities and net assets(Unit: Million yen)
Current fiscal year end(At March 31, 2011)
78,971

Previous fiscal year end(At March 31, 2010)
81,329Total liabilities

31,94940,141(8,192)

Total net assets

47,021

41,187

5,834

Total assets

Year-over-year change(2,357)(Assets)
Current assets amounted to ¥51,051 million, down ¥5,643 million since the end of the previous fiscal year. This was mainly
attributable to a decrease in notes and accounts receivable—trade.
Tangible fixed assets amounted to ¥10,089 million, up ¥368 million since the end of the previous fiscal year. This wasprimarily attributable to increases in assets reflecting purchases of subsidiaries newly included in the scope of consolidation.
Intangible fixed assets amounted to ¥5,070 million, up ¥2,736 million since the end of the previous fiscal year. This was
mainly attributable to increases in goodwill.
Investments and other assets amounted to ¥12,760 million, up ¥181 million since the end of the previous fiscal year. This
primarily reflected purchases of investment securities.
As a result of the above, total assets amounted to ¥78,971 million, down ¥2,357 million since the end of the previous fiscal
year.
(Liabilities)
Current liabilities amounted to ¥27,587 million, down ¥8,258 million since the end of the previous fiscal year. The principal
factors behind this were a decrease in notes and accounts payable—trade.
Fixed liabilities amounted to ¥4,362 million, up ¥66 million since the end of the previous fiscal year. This was mainly
attributable to an increase in asset retirement obligations with the application of the accounting standards and the redemption of
corporate bonds.
As a result of the above, total liabilities amounted to ¥31,949 million, down ¥8,192 million since the end of the previous fiscal
year.
(Net assets)
Net assets amounted to ¥47,021 million, up ¥5,834 million since the end of the previous fiscal year. This primarily reflected aincrease in retained earnings.
[2]

Cash flows
During the year ended March 31, 2011, cash and cash equivalents (hereinafter referred to as “cash”) decreased by ¥274 million
since the end of the previous fiscal year and amounted to ¥15,632 million at the end of the year ended March 31, 2011.
Cash flows for the year ended March 31, 2011 were as follows:(Unit: Million yen)
Current fiscal year

Previous fiscal year

(Year ended March 31, 2011)(Year ended March 31, 2010)

Cash flows from operating activities

8,005

8,429

(424)

Cash flows from investing activities(4,356)(1,011)(3,344)

Cash flows from financing activities(3,915)(2,687)(1,227)-6-

Year-over-year changeCash flows for the year ended March 31, 2011 and their conditions were as follows:(Cash flows from operating activities)
Net cash provided by operating activities amounted to ¥8,005 million (¥8,429 million of income in the previous year). Thiswas mainly attributable to income before income taxes and minority interest of ¥13,410 million, a decrease of ¥4,907 million
in notes and accounts receivable-trade, a decrease of ¥9,155 million in notes and accounts payable-trade, income taxes paid
totaling ¥5,258 million, etc.
(Cash flows from investing activities)
Net cash used in investing activities amounted to ¥4,356 million (¥1,011 million of expenditure in the previous year). This was
mainly attributable to expenditure for acquiring shares in subsidiaries which involved change in the scope of consolidation
totaling ¥2,191 million, expenditure for purchases of intangible fixed assets totaling ¥1,008 million, expenditure for purchasesof tangible fixed assets totaling ¥482 million, etc.
(Cash flows from financing activities)
Net cash used in financing activities amounted to ¥3,915 million (¥2,687 million of expenditure in the previous year). This was
mainly attributable to dividends paid totaling ¥1,657 million, reduction of short-term borrowings totaling ¥1,209 million, andredemption of corporate bonds totaling ¥877 million.
(Reference) Trends of cash flow indicators
Year ended
March 31, 2007

Year ended
March 31, 2008

Year ended
March 31, 2009

Year ended
March 31, 2010

Year ended
March 31, 2011

Shareholders’ equity ratio (%)

62.2

64.3

75.8

50.5

59.2

Shareholders’ equity ratio at
market value (%)
Interest-bearing debt/cash flow
ratio (years)

99.8

68.7

90.8

44.4

59.9

0.9

0.4

0.7

0.2

0.2

Interest coverage ratio (times)

83.7

145.7

36.0

310.5

311.7

Shareholders’ equity ratio: Shareholders’ equity/Total assets
Shareholders’ equity ratio at market value: Aggregate market value(based on the closing stock price at the end of the year)/Total assets
Interest-bearing debt/cash flow ratio: Interest-bearing debt/Operating cash flow
Interest coverage ratio: Operating cash flow/Interest expense(Notes) 1 All of the above indicators are calculated for their respective values on a consolidated basis.
2 Aggregate market value is calculated based on the number of shares issued excluding treasury stock.
3 Interest-bearing debt indicates all the liabilities for which interest is paid posted in the consolidated balance sheets.
(3) Fundamental corporate policy for distributing profits and dividends for the current and next fiscal years
The Company regards the enhancement of corporate value as a principal management task, and its fundamental policy is to pay
dividends at an appropriate level that corresponds with profits. Specifically, dividends are determined on the basis of such factors
as cash flow conditions, and we aim to achieve a consolidated payout ratio of 20% or more. The Company makes every effort toeffectively use retained earnings for investments to enhance its financial condition, strengthen the management foundation,
expand businesses continually and secure a competitive edge.
For the year ended March 31, 2011, the Company paid an interim dividend of ¥2,500 per share to shareholders by adding ¥500
per share and intends to distribute a year-end dividend of ¥2,500 per share (¥5,000 for the whole year). As a result, this fiscal
year’s consolidated payout ratio will be 22.1%.
With regard to the year ending March 31, 2012, taking forecasts of profit growth into account, the Company also intends todistribute an annual dividend per share of ¥5,000 (an interim dividend of ¥2,500 and a year-end dividend of ¥2,500).

-7-

2. Outline of the Fields group
The Fields group (parent company and associated companies) comprises Fields Corporation (“the Company”), 16 subsidiaries, 7affiliated companies, and 1 other related company.
The business segments of each company in the Fields group are summarized below.
Business segment

Pachinko/Pachislot (PS)
Field

Mobile Field
Sports Entertainment
Field

Other Field

Description of principal businessCompany nameFields Corporation
Planning, development, sales and Fields Jr. Corporation
maintenance of
F Corporation
pachinko/pachislot machines,
MICROCABIN CORP.
purchasing of pachinko/pachislot
machines, as well as planning and Shin-Nichi Technology Co., Ltd.
SOGO MEDIA INC.
development of software forpachinko/pachislot machines
Rodeo Co., Ltd.
Sankyo Co., Ltd.
FutureScope Corporation
Mobile content business
IP Bros. Incorporated
Japan Sports Marketing Inc.
Sports management and related
activities
Tsuburaya Productions Co., Ltd.
Planning and production of such
Digital Frontier Inc.
image as movies and TV
Lucent Pictures Entertainment, Inc.
programs
Planning, manufacture, sales, etc. HERO’S
of character goods(and 3 other companies)(and 7 other companies)

The following chart summarizes our business organization.
Pachinko/Pachislot (PS){ F Corporation{ MICROCABIN CORP.
{ Shin-Nichi Technology
Co., Ltd.
Planning andconsignment ofdevelopment

Intellectual property (IP) (Content)

IP

Machine manufacturer

Planning

 Rodeo Co., Ltd.
U Sankyo Co., Ltd.

Development

IP and productplanning

Product
purchasing andconsigned sales

Fields Corporation
Consignment ofoperations{ Fields Jr. Corporation
 SOGO MEDIA INC.

Product sales
Sales representation

Provision

Nationwide pachinko halls (Users)IPof services

Mobile Field
Provision{ FutureScope Corporation{ IP Bros. Incorporated
Sports Entertainment Field{ Japan Sports Marketing Inc.
And three other consolidated subsidiaries

Provisionof services

Other Field
IP{ Tsuburaya Productions Co., Ltd.
{ Digital Frontier Inc.
{ Lucent Pictures Entertainment, Inc.
 HERO’S
And another consolidated subsidiary, 3 other equity method affiliates, 2
non-consolidated subsidiaries, and another non-equity method affiliate{ : Consolidated subsidiary-8- : Equity method affiliate

Users

IP

of services

Provisionof services

U: Other related company

3. Operating policies(1) Fundamental corporate management policy(2) Targeted management indicators(3) Management strategies for the medium to long term and issues to address
The relevant descriptions on each of the preceding items are omitted as there have been no changes from the contents disclosed in
the Summary of Financial Information and Business Results for the Year Ended March 31, 2008 (disclosed as of May 14, 2008).
This Summary of Financial Information and Business Results for the Year Ended March 31, 2008 can be viewed at the following
website:(The Company’s web site)
http://www.fields.biz/(Osaka Securities Exchange’s web site (Company Search page))
http://www.ose.or.jp/listed_company_info/description/search(4) Other important matters affecting corporate management
No relevant items-9-4. Consolidated financial statements(1) Consolidated balance sheets(Unit: Million yen)
Fiscal year ended
March 31, 2011
(March 31, 2011)

Fiscal year ended
March 31, 2010
(March 31, 2010)
AssetsCurrent assets
Cash and cash equivalents
Notes and accounts receivable—tradeMarketable securities
Merchandise and products
Work in process
Raw materials and supplies
Deferred tax assets
Merchandising rights advances
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets
Tangible fixed assets
Buildings and structures
Accumulated depreciation
Net amount of buildings and structures
Machinery, equipment and vehicles
Accumulated depreciation
Net amount of machinery, equipment and vehicles
Tools, furniture and fixtures
Accumulated depreciation
Net amount of tools, furniture and fixtures
Land
Construction in progress
Total tangible fixed assets
Intangible fixed assets
Goodwill
Other intangible fixed assets
Total intangible fixed assets
Investments and other assets
Investment securities
Long-term loans
Deferred tax assets
Other assets
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets

15,91633,088
48
107
1,027
385
807
2,838
2,829
(355)
56,694*2- 10 -*1

15,87327,948
300
826
231
1,249
2,067
2,755
(200)
51,051

4,349(1,373)
2,976
47
(20)
26
2,414
(1,884)
529
6,170
18
9,721

5,478
(2,430)
3,048
92
(65)
27
3,097
(2,442)
654
6,324
34
10,089

239
2,094
2,333

2,801
2,268
5,070

7,865
345
1,124
3,357
(114)
12,57824,634
81,329

*2

8,466
417
942
3,409
(475)
12,76027,92078,971

(Unit: Million yen)
Fiscal year ended
March 31, 2011
(March 31, 2011)

Fiscal year ended
March 31, 2010
(March 31, 2010)
Liabilities
Current liabilities
Notes and accounts payable—trade
Corporate bonds redeemable within 1 year
Short-term borrowings
Current portion of long-term borrowings
Accrued income taxes
Accrued bonuses
Accrued bonuses to directors and auditors
Allowance for losses on order receiving
Allowance for losses on relocation of offices
Other current liabilities
Total current liabilities
Fixed liabilities
Corporate bonds
Long-term borrowings
Retirement benefit provisions
Other fixed liabilities
Total fixed liabilities
Total liabilities
Net assets
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Unrealized holding gain on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Minority interest
Total net assets
Total liabilities and net assets

26,610
720
3,562
273
135
11
14
4,517
35,845- 11 -

17,939
740
85
*1
44
4,217
312
220
4,028
27,587

*1

1,510
274
2,511
4,295
40,141

900
65
339
3,058
4,362
31,9497,948
7,994
27,583(1,785)41,741

7,948
7,994
33,443(1,785)47,601

(676)
0
(676)
122
41,187
81,329

(822)
0
(821)
242
47,021
78,971

(2) Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Advertising expenditures
Salaries
Provision for accrued bonuses
Provision for accrued bonuses to directors andauditors
Outsourcing expenses
Travel and transport expenses
Depreciation and amortization
Rents
Provision to allowance for doubtful accounts
Retirement benefit expenses
Amortization of goodwill
OthersTotal selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Equity method investment gain
Discounts on purchases
Lease income
Interest on refund
OthersTotal non-operating income
Non-operating expenses
Interest expense
Provision of allowance for doubtful accounts
Equity method investment loss
Amortization of equity investment
Loss on management of investment securities
Foreign exchange loss
OthersTotal non-operating expenses
Ordinary income
Extraordinary income
Gain on sale of fixed assets
Reversal of allowance for doubtful accounts
Reversal of provision for bonuses
OthersTotal extraordinary income

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)
66,34239,452
26,889(Unit: Million yen)
Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)
103,593
68,46435,129

3,587
4,652
257
135

4,006
5,527
290
220

1,373
469
1,175
1,475
249
68
87
5,233
18,764
8,124

1,553
551
1,393
1,654
76
366
6,353
21,993
13,136

11
164
21
30
74
180
484

13
166
552
199
33
170
1,136

24
258
132
312
46
72
846
7,761

20
345
61
95
18
47
588
13,684*1- 12 -

46
7
53

162
37
14
215

(Unit: Million yen)
Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)
Extraordinary losses
Loss on sale of fixed assets
Loss on disposal of fixed assets
Amortization of goodwill
Impairment loss
Valuation loss on investment securities
Loss on adjustment for changes of accounting
standards for asset retirement obligations
Provision to allowance for loss on relocationof offices
Loss due to discontinued production
OthersTotal extraordinary losses
Income before income taxes and minority
interests
Current income taxes
Deferred income taxes
Total income taxes
Income before minority interests
Minority interests
Net income

*2

4
430
*4
18
15
-

141
*4
44
142

13

-

24
91
597
7,218

159
488
13,410

3,616
284
3,900
29
3,289

5,933
(49)
5,883
7,527
6
7,520

*3

- 13 -

Consolidated statements of comprehensive income-(Unit: Million yen)
Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)
7,527

-

(145)

-

0
0

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)
Income before minority interests
Other comprehensive income
Unrealized holding gain on available-for-salesecurities
Foreign currency translation adjustment
Share of other comprehensive income ofassociates accounted for using equity method
Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to ownersof the parent
Comprehensive income attributable tominority interests-- 14 -

*2
*1

(144)
7,382

-

7,375

-

6

(3) Consolidated statement of change in net assets(Unit: Million yen)
Fiscal year ended March 31, 2010 Fiscal year ended March 31, 2011
(April 1, 2009–March 31, 2010) (April 1, 2010–March 31, 2011)
Shareholders’ equity
Common stock
Balance at end of previous year
Amount of changes during the year
Total amount of changes during the year
Balance at end of year
Capital surplus
Balance at end of previous year
Amount of changes during the year
Total amount of changes during the year
Balance at end of year
Retained earnings
Balance at end of previous year
Amount of changes during the year
Dividends from surplus
Net income
Total amount of changes during the year
Balance at end of year
Treasury stock
Balance at end of previous year
Amount of changes during the year
Purchase of treasury stock
Total amount of changes during the year
Balance at end of year
Total shareholders’ equity
Balance at end of previous year
Amount of changes during the year
Dividends from surplus
Net income
Purchase of treasury stock
Total amount of changes during the year
Balance at end of year
Accumulated other comprehensive income
Unrealized holding gain on available-for-sale securities
Balance at end of previous year
Amount of changes during the year
Net amount of changes in items not included inshareholders’ equity during the year
Total amount of changes during the year
Balance at end of year
Foreign currency translation adjustment
Balance at end of previous year
Amount of changes during the year
Net amount of changes in items not included inshareholders’ equity during the year
Total amount of changes during the year
Balance at end of year

- 15 -

7,948

7,948

7,948

7,948

7,994

7,994

7,994

7,994

25,80827,583(1,513)
3,289
1,775
27,583(1,660)7,520
5,859
33,443(1,330)(1,785)

(454)
(454)
(1,785)(1,785)40,42041,741(1,513)
3,289
(454)
1,320
41,741(1,660)7,520
5,859
47,601

(956)

(676)

280

(145)

280
(676)

(145)
(822)

(0)

0

0

0

0
0

0
0

(Unit: Million yen)
Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)
Total accumulated other comprehensive
incomeBalance at end of previous year
Amount of changes during the year
Net amount of changes in items notincluded in shareholders’ equity during
the year
Total amount of changes during the year
Balance at end of year
Minority interest
Balance at end of previous year
Amount of changes during the year
Net amount of changes in items notincluded in shareholders’ equity during theyear
Total amount of changes during the year
Balance at end of year
Total net assets
Balance at end of previous year
Amount of changes during the year
Dividends from surplus
Net income
Purchase of treasury stock
Net amount of changes in items notincluded in shareholders’ equity during theyear
Total amount of changes during the year
Balance at end of year

- 16 -

(957)

(676)

280

(145)

280
(676)

(145)
(821)

32

122

89

119

89
122

119
242

39,496

41,187(1,513)
3,289
(454)
369

(1,660)
7,520
(25)

1,690
41,187

5,834
47,021

(4) Consolidated statements of cash flows
Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)(Unit: Million yen)
Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)

7,218
1,368
18
87
136
62
(110)

13,410
1,734
44
507
118
33
85

53
11

64
(11)

5

-

(176)
(21)
258
24
408
-

(180)
(199)
(552)
20
142

312
15
132
(27,896)

95
98
4,907

(557)
753
99
(284)
23,910

628
771
153
(289)
(9,155)507
619(1,278)
150
5,829
183
(27)
2,443
8,429

(414)
145
(76)
1,021
13,102
186(25)(5,258)8,005

Cash flows from operating activities
Income before income taxes and minority interest
Depreciation and amortization
Impairment loss
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in accrued bonuses
Increase (decrease) in accrued bonuses to directors
and auditors
Increase (decrease) in retirement benefit provisions
Increase (decrease) in allowance for losses on order
receiving
Increase (decrease) in allowance for losses on
relocation of offices
Interest and dividend income
Discounts on purchases
Equity method investment loss (gain)
Interest expense
Loss on disposal of fixed assets
Loss on adjustment for changes of accounting
standard for asset retirement obligations
Loss on management of investment securities
Valuation loss (gain) on investment securities
Amortization of equity investment
Decrease (increase) in notes and accounts
receivable—trade
Decrease (increase) in inventories
Decrease (increase) in merchandising right advances
Decrease (increase) in prepaid expenses
Decrease (increase) in advance payments
Increase (decrease) in notes and accounts
payable—trade
Increase (decrease) in other accounts payable
Increase (decrease) in accrued consumption taxes
Increase (decrease) in deposits received
OthersSubtotalInterest and dividends received
Interest paid
Income taxes refunded (paid)
Net cash provided by (used in) operating activities- 17 -

(Unit: Million yen)
Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)
Cash flows from investing activities
Purchases of tangible fixed assets
Proceeds from sale of tangible fixed
assetsPurchases of intangible fixed assets
Purchases of investment securities
Expenditure for acquiring shares inaffiliates
Proceeds from sales of stocks shares inaffiliates
Expenditure for acquiring shares insubsidiaries which involved change inthe scope of consolidation
Expenditure for equity investment
Expenditure for loans
Collection on loans
Payments for deposits and guarantees
Proceeds from cancellation of deposits
and guarantees
OthersCash flows from investing activities
Cash flows from financing activities

(470)
615

(482)
-

(449)
(3)

(1,008)
(366)
(315)

-

200

-

Net increase (decrease) in short-termborrowings
Repayment of long-term borrowings
Redemption of corporate bonds
Proceeds from payments by minority
shareholders
Dividends paid
Expenditure for purchase of treasury
stock
OthersNet cash provided by (used in)financing activities
Effect of exchange rate changes on cash
and cash equivalents
Increase (decrease) in cash and cash
equivalents
Cash and cash equivalents at beginningof yearCash and cash equivalents at end of year*1

- 18 -*2(2,191)

(366)
(357)
1
(91)
134

(155)
(243)
113
(132)
16

(23)
(1,011)

208(4,356)-(1,209)

(61)
(720)
60

(63)
(877)
22

(1,511)(456)(1,657)-(2,687)(130)(3,915)

(4)

(7)

4,725

(274)

11,181

15,906

15,906*1

15,632

(5) Note regarding the operation of the company as a going concern
Fiscal year ended March 31, 2010 (April 1, 2009–March 31, 2010)
No relevant items
Fiscal year ended March 31, 2011 (April 1, 2010–March 31, 2011)
No relevant items(6) Basis of presentation of the consolidated financial statements
Item

1. Scope of consolidation

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)(1) Number of consolidated
subsidiaries:
11
Names of consolidated subsidiaries:
Fields Jr. Corporation
Shin-Nichi Technology Co., Ltd.
F Corporation
Lucent Pictures Entertainment,
Inc.
Haruki Fields Cinema Fund
K-1 INTERNATIONAL
Corporation
FutureScope Corporation
EXPRESS Inc.
Japan Sports Marketing Inc.
JSM HAWAII, LLC
Ildel Corporation

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)(1) Number of consolidated
subsidiaries:
14
Names of consolidated subsidiaries:
Fields Jr. Corporation
Shin-Nichi Technology Co., Ltd.
F Corporation
Lucent Pictures Entertainment,
Inc.
Digital Frontier Inc.
GEMBA Inc.
K-1 INTERNATIONAL
Corporation
MICROCABIN CORP.
IP Bros. Incorporated
FutureScope Corporation
EXPRESS Inc.
Japan Sports Marketing Inc.
JSM HAWAII, LLC
Tsuburaya Productions Co., Ltd.

F Corporation and K-1
INTERNATIONAL Corporation
were newly established during the
fiscal year ended March 31, 2010
and therefore have been included in
the scope of consolidation.

Since the Company newly acquired
shares in Tsuburaya Productions Co.,
Ltd., Digital Frontier Inc. and its
subsidiary, GEMBA Inc., and
MICROCABIN CORP. during the
fiscal year ended March 31, 2011, it
now includes these companies in thescope of consolidated accounting.
During the current consolidated
fiscal year, the liquidation of Ildel
Corporation was completed, and the
Haruki Fields Cinema Fund was
dissolved, and therefore, thesecompanies have been excluded fromthe scope of consolidated accounting.
IP Bros. Incorporated, newly
established during the current
consolidated fiscal year, is now
included in the scope of consolidated
accounting.

- 19 -

Item

1. Scope of consolidation

2. Application of equity method

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)(2) Names of significant non-consolidated
subsidiaries, etc.:
APE Inc.
Reason for exclusion from the scope of
consolidation:
Non-consolidated subsidiaries have been
excluded from consolidation owing totheir small size and the fact that in nocase do their aggregate total assets, net
sales, net income (proportionate to equity
stakes held) and retained earnings(proportionate to equity stakes held), etc.,
have a material impact on the
consolidated financial statements.
(1) Number of equity-method affiliates: 5
Rodeo Co., Ltd.
SOGO MEDIA INC.
Bbmf Magazine, Inc.
SPO Inc.
Kadokawa Haruki Corporation
SOGO MEDIA INC. was newly
established during the fiscal year ended
March 31, 2010 and therefore has beenaccounted for by the equity method.
Effective with the current consolidated
fiscal year, the equity method is applied
to the newly established SOGO MEDIA
INC.
(2) Names of significant non-consolidated
subsidiaries and affiliated companies notaccounted for by the equity method:
APE Inc.
G&E Corporation
YMO Inc.
Reason for non-application of the equity
method:These companies have a negligible
impact on net income (proportionate toequity stakes held) and retained earnings(proportionate to equity stakes held) andhave no significance as a whole, so they
have been excluded from the applicationof the equity method.
(3) Matters requiring clarification concerning
procedures for application of the equity
method:With regard to companies accounted forby the equity method whose year-end
settlement dates differ from that for
consolidated accounts, the financial
statements relating to those companies’
fiscal years are utilized.
———

3. Accounts settlement dates of
consolidated subsidiaries

Of the consolidated subsidiaries, the year-end
balance sheet date of JSM HAWAII, LLC is
December 31. In preparing the consolidated
financial statements, its financial statements
as of March 31 through the temporary
settlement of accounts are used.

- 20 -

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)(2) Names of significant non-consolidated
subsidiaries, etc.:
APE Inc.
Shanghai Tsuburaya Productions Co.,Ltd.
Reason for exclusion from the scope of
consolidation:
Same as at left

(1) Number of equity-method affiliates: 6
HERO’S
Rodeo Co., Ltd.
SOGO MEDIA INC.
Bbmf Magazine, Inc.
SPO Inc.
Kadokawa Haruki Corporation
Effective with the current consolidated
fiscal year, the equity method is applied
to the newly established HERO’S.
(2) Names of significant non-consolidated
subsidiaries and affiliated companies notaccounted for by the equity method:
APE Inc.
G&E Corporation
Shanghai Tsuburaya Productions Co.,Ltd.
Reason for non-application of the equity
method:Same as at left

(3) Matters requiring clarification concerning
procedures for application of the equity
method:With regard to companies accounted forby the equity method whose year-end
settlement dates differ from that for
consolidated accounts, the financial
statements relating to those companies’
fiscal years are utilized.
(Change in accounting policy)
Effective with the current consolidated fiscal
year, the “Accounting Standards for the
Equity Method (ASBJ Statement No. 16,
announced on March 10, 2008) and the“Immediate Handling of the Accounting ofAffiliated Companies to Which the Equity
Method is Applied” (Practical Action Report
No. 24, issued on March 10, 2008) areapplied. This change has no effect on income.
Same as at left

Item

4. Accounting standards

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)(1) Valuation standards and methods forimportant assets[1] Marketable securities

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)(1) Valuation standards and methods forimportant assets[1] Marketable securities

Held-to-maturity bonds:
Carried at amortized cost (straight-line
method)Other marketable securities
Securities with market prices:Stated at market value based onmarket price as of the consolidatedbalance sheet date (unrealized gains
or losses are charged or credited
directly to net assets, with the costof securities sold determined by themoving average method).
Securities without market prices:Stated at cost determined by themoving average method.
[2] Derivatives:[2] Derivatives:

Stated at market value[3] Inventories

Same as at left
[3] Inventories

Valuation policy for inventories held for
purposes of ordinary sales is based on a costbasis (which reduces the book value of
assets whose profitability is diminished).
a Merchandise
Fields Corporation:
Used pachinko/pachislot machines
Specific identification method
OthersMoving average method
Consolidated subsidiaries:
Periodic average methodb Work in process
Consolidated subsidiaries:
Specific identification methodc Raw materials
Consolidated subsidiaries:
Moving average methodd Supplies
Last purchase price method(2) Depreciation methods for importantdepreciable assets[1] Tangible fixed assets

Valuation policy for inventories held for
purposes of ordinary sales is based on a costbasis (which reduces the book value of
assets whose profitability is diminished).
a MerchandiseSame as at left

Declining-balance method for theCompany and domestic consolidated
subsidiaries
However, the straight-line method isapplied to buildings (excluding building
fixtures) acquired on and after April 1,
1998.
The estimated useful lives of depreciable
assets are as follows.
Buildings: 8–50 years
Structures: 10–50 years
Vehicles: 6 years
Tools, furniture and fixtures: 2–20 years- 21 -

Held-to-maturity bonds:
Same as at left
Other marketable securities
Securities with market prices:
Same as at left

Securities without market prices:
Same as at left

b Work in process
Same as at leftc Raw materials
Same as at left
d Supplies
Same as at left
(2) Depreciation methods for importantdepreciable assets[1] Tangible fixed assets
Declining-balance method for theCompany and domestic consolidated
subsidiaries
However, the straight-line method isapplied to buildings (excluding building
fixtures) acquired on and after April 1,
1998.
The estimated useful lives of depreciable
assets are as follows.
Buildings and structures: 8–50 years
Machinery, equipment and vehicles:
5–12 years
Tools, furniture and fixtures: 2–20 years

Item
4. Accounting standards

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)(2) Depreciation methods for importantdepreciable assets[2] Intangible fixed assets

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)(2) Depreciation methods for importantdepreciable assets[2] Intangible fixed assets

Straight-line method
The straight-line method is applied tosoftware for company use, based on its
useful life within the Company (5 years).
[3] Long-term prepaid expenses[3] Long-term prepaid expenses

straight-line method(3) Treatment of important deferred charges[1] Organization expense

Same as at left
(3) Treatment of important deferred charges———

The expense is charged in full at the time
it is incurred.
(4) Accounting standards for importantreserves[1] Allowance for doubtful accounts(4) Accounting standards for importantreserves[1] Allowance for doubtful accounts

To provide against losses from doubtful
accounts, allowances for ordinary
receivables are provided using a rate
determined by past collection experience,
and allowances for specific debts
considered doubtful are accounted for by
calculating the estimated amounts deemed
uncollectible after individually reviewing
collectability of the debts.
[2] Accrued bonuses

Same as at left

Same as at left

[2] Accrued bonuses

To provide for employee bonuses, theCompany and some of its consolidated
subsidiaries recognize the amounts out ofthe projected bonus payments to beallocated to the year ended March 31, 2010.
[3] Accrued bonuses to directors and auditors
To provide for bonuses to directors andauditors, the Company recognizes theamounts corresponding to the year ended
March 31, 2010 based on the projectedbonus payments.
[4] Allowance for losses on order receiving
To provide against losses from receiving
orders, allowances for losses on order
receiving are provided at some consolidated
subsidiaries with regard to order receiving
operations bearing a high possibility of
incurring losses that at the same time can be
estimated rationally.
[5] Allowance for losses on relocation of
offices
The Company provides estimated costs thatmight result from office relocations
including a loss on disposal of fixed assets
and expenses for recovering the present
status, etc.

- 22 -

Same as at left

[3] Accrued bonuses to directors and auditors
Same as at left

———

———

Item
4. Accounting standards

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)[6] Retirement benefit provisions
To provide for employees’ retirement
benefits, the Company and someconsolidated subsidiaries recognize, on thebasis of projected benefit obligations as ofthe end of the fiscal year, benefit obligations
accrued as of the end of the fiscal year.
Actuarial differences are amortizedproportionately by the straight-line method
over a fixed number of years (5 years)
within the average remaining period ofservice of employees as of the time suchdifferences arise. Amortization amounts are
expensed beginning with the fiscal year
following that in which the differences
arise.
——————

5. Valuation of assets andliabilities of consolidated
subsidiaries
6. Amortization of goodwill
and negative goodwill
7. Scope of funds inconsolidated statements ofcash flows(5) Other significant standards for the
preparation of consolidated financial
statements
Accounting for consumption taxes
Consumption tax is accounted for by the
tax-excluded method.
Assets and liabilities of consolidated
subsidiaries are stated at fair value.
Goodwill is amortized equally for areasonable number of years within 10 years,
estimating the period when its effect isgenerated.
Funds include cash on hand, demand
deposits and short-term investments
maturing or redeemable within 3 months
after acquisition that are highly liquid,
easily convertible into cash and exposed to
low price fluctuation risk.

- 23 -

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)[6] Retirement benefit provisions
Same as at left

(5) Amortization method for goodwill and theamortization period
Goodwill is amortized equally for areasonable number of years within 10 years,
estimating the period when its effect isgenerated.
(6) Scope of funds in consolidated statementsof cash flows
Funds include cash on hand, demand
deposits, and short-term investments
maturing or redeemable within 3 months
after acquisition that are highly liquid,
easily convertible into cash, and exposed to
low price fluctuation risk.
(7) Other significant standards for the
preparation of consolidated financial
statements
Accounting for consumption taxes
Same as at left
———
———

———

(7) Change in the basis of presentation of the consolidated financial statements(Changes in accounting treatment)
Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)(Partial amendments to the accounting standard for retirement
benefits)
Effective with the year ended March 31, 2010, the Company
adopts the Partial Amendments to Accounting Standard for
Retirement Benefits (Part 3) (ASBJ Statement No. 19, issued
on July 31, 2008).
This change has no effect on income.

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)(Accounting standards for asset retirement obligations, etc.)
Effective with the current consolidated fiscal year, the“Accounting Standards for Asset Retirement Obligations”(ASBJ Statement No. 18, issued on March 31, 2008) and the“Guidelines for Application of the Accounting Standards for
Asset Retirement Obligations” (ASBJ Guidance No. 21,
issued on March 31, 2008) are applied. With this change,
operating income and ordinary income for the current
consolidated fiscal year were respectively decreased by ¥30
million, and pre-tax net income for the year ended March 31,
2011 was decreased by ¥173 million. The amount offluctuation in asset retirement obligations due to the start ofapplication of these accounting standards, etc. is ¥288 million.
(Accounting standards for corporate combinations, etc.)
Effective with the current consolidated fiscal year, the“Accounting Standards for Corporate Combinations” (ASBJ
Statement No. 21, issued on December 26, 2008),“Accounting Standards for Consolidated Financial
Statements” (ASBJ Statement No. 22, issued on December 26,2008), “Partial Revision of the ‘Accounting Standards for
Research and Development Costs, Etc.’” (ASBJ Statement
No. 23, issued on December 26, 2008), “AccountingStandards for Business Divestiture, Etc.” (ASBJ Statement
No. 7, issued on December 26, 2008), “Accounting Standards
for the Equity Method (ASBJ Statement No. 16, issued on
December 26, 2008), and the “Guidelines for Application of
the Accounting Standards for Corporate Combinations and the
Accounting Standards for Business Divestiture, Etc.” (ASBJ
Guidance No. 10, issued on December 26, 2008) are applied.

(Changes in presentation method)
Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)(Consolidated balance sheets)
1. As “Other accounts receivable,” which had been separately
presented until the end of the previous fiscal year,
accounted for less than 5/100 of total assets, it has been
included in “Others” of current assets. The “Other accounts
receivable” as of March 31, 2010, was ¥193 million.
2. “Software,” which had been separately presented until theend of the previous fiscal year, has been included in“Others” of intangible fixed assets because the amountbecame insignificant. The “Software” as of March 31,
2010, was ¥1,910 million.
3. As “Deposits and guarantees,” which had been separately
presented until the end of the previous fiscal year,
accounted for less than 5/100 of total assets, it has been
included in “Others” of investments and other assets. The“Deposits and guarantees” as of March 31, 2010, was¥2,670 million.
4. “Long-term guarantee deposits received,” which had been
separately presented until the end of the previous fiscal
year, has been included in “Others” of fixed liabilities
because the amount became insignificant. The “Long-term
guarantee deposits received” as of March 31, 2010, was¥2,508 million.

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)———- 24 -

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)(Consolidated statements of income)
1. As “Interest on refund,” which had been included in“Others” under non-operating income until the end of theprevious fiscal year, accounted for more than 10/100 of
total non-operating income, it has been separately
presented. The “Interest on refund” as of March 31, 2009,was ¥0 million.

(Consolidated statements of cash flows)
1. “Foreign exchange loss (gain),” which had been separately
presented under the cash flows from operating activities
until the previous fiscal year, has been included in“Others” of the cash flows from operating activities
because the amount became insignificant. The “Foreignexchange loss (gain)” as of March 31, 2010, was ¥4
million.
2. “Increase (decrease) in other accounts receivable,” which
had been separately presented under the cash flows fromoperating activities until the previous fiscal year, has been
included in “Others” of the cash flows from operating
activities because the amount became insignificant. The“Increase (decrease) in other accounts receivable” as ofMarch 31, 2010, was ¥27 million.
3. “Payments for long-term prepaid expenses,” which had
been separately presented under the cash flows frominvesting activities until the previous fiscal year, has been
included in “Others” of the cash flows from investing
activities because the amount became insignificant. The“Payments for long-term prepaid expenses” as of March
31, 2010, was ¥(2) million.

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)(Consolidated statements of income)
1. Effective with the current consolidated fiscal year, the newitem “Income before minority interests” has been added
applying the Cabinet Office Order to Revise Part of theRegulations, Etc. for Financial Statements, Etc. (Cabinet
Office Order No. 5, issued on March 24, 2009) inaccordance with the “Accounting Standards for
Consolidated Financial Statements” (ASBJ Statement No.
22, issued on December 26, 2008).
2. As “Interest on refund,” which had been presented
separately until the previous consolidated fiscal year,
accounted for less than 10/100 of total non-operating
income, it has been included in “Others” under
non-operating income. The “Interest on refund” as ofMarch 31, 2011 was ¥3 million.
3. As “Provision of allowance for doubtful accounts,” which
had been included in “Others” under non-operating
expenses until the previous consolidated fiscal year,
accounted for more than 10/100 of total non-operating
expenses, it has been presented separately. The “Provisionof allowance for doubtful accounts” as of March 31, 2010was ¥5 million.
4. As “Gain on sale of fixed assets,” which had beenpresented separately until the previous consolidated fiscal
year, accounted for less than 10/100 of total extraordinary
income, it has been included in “Others” under
extraordinary income. The “Gain on sale of fixed assets”
as of March 31, 2011 was ¥1 million.
5. “Loss on sale of fixed assets,” which had been presented
separately until the previous consolidated fiscal year, hasbeen included in “Others” under extraordinary loss
because the amount became insignificant. The “Loss onsale of fixed assets” as of March 31, 2011 was ¥1 million.
6. As “Loss on disposal of fixed assets,” which had beenpresented separately until the previous consolidated fiscal
year, accounted for less than 10/100 of total extraordinary
loss, it has been included in “Others” under extraordinary
loss. The “Loss on disposal of fixed assets” as of March
31, 2011 was ¥39 million.
(Consolidated statements of cash flows)
1. “Increase (decrease) in allowance for loss on relocation of
offices,” which had been presented separately under cash
flows from operating activities until the previous
consolidated fiscal year, has been included in “Others”
under cash flows from operating activities because theamount became insignificant. The “Increase (decrease) inallowance for loss on relocation of offices” as of March
31, 2011 was ¥(0) million.
2. “Loss on disposal of fixed assets,” which had beenpresented separately under cash flows from operating
activities until the previous consolidated fiscal year, hasbeen included in “Others” under cash flows fromoperating activities because the amount became
insignificant. The “Loss on disposal of fixed assets” as ofMarch 31, 2011 was ¥39 million.
3. “Proceeds from sale of tangible fixed assets,” which had
been presented separately under cash flows from investing
activities until the previous consolidated fiscal year, hasbeen included in “Others” under cash flows from investing
activities because the amount became insignificant. The“Proceeds from sale of tangible fixed assets” as of March
31, 2011 were ¥0 million.

- 25 -

(Additional information)
Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)——————

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)
Effective with the current consolidated fiscal year, the“Accounting Standards for the Presentation of Comprehensive
Income” (ASBJ Statement No. 25, issued on June 30, 2010) is
applied. However, the amounts of “Valuation and transaction
differences” and “Total Valuation and transaction differences”
are presented as the previous consolidated fiscal year’s
amounts for “Accumulated other comprehensive income” and“Total accumulated other comprehensive income,”
respectively.

- 26 -

(8) Notes to the consolidated financial statements(Consolidated balance sheets)*1

Fiscal year ended March 31, 2010
(As of March 31, 2010)———*2 Related to non-consolidated subsidiaries and affiliates
Investment securities (shares)¥1,598 million
3 Contingent liabilities
The Company provides payment guarantees for sales ofpachinko/pachislot machines to pachinko halls fromgaming machine manufacturers when acting as arepresentative in such sales.
K.K. Ichiroku Shoji¥79 million
Niimi Co., Ltd.
¥60 million
K.K. Taisei Kanko¥49 million
Y.K. Daiko¥46 million
K.K. Corona¥33 million
K.K. Shouei Project¥27 million
Y.K. Big Shot
¥26 million
inter-trade Inc.
¥24 million
Y.K. Takarazuka¥21 million
K’s corporation¥20 million
Others (286)¥589 million
Total¥980 million
4 Overdraft agreements
To raise working capital efficiently, the Fields group has
concluded an overdraft agreement with 4 banks. Unutilizedbalances under these agreements as of March 31, 2010,
were as follows:
Overdraft limit¥19,000 million
Borrowings outstanding- million
Difference¥19,000 million

Fiscal year ended March 31, 2011
(As of March 31, 2011)*1 Assets provided as security
Assets provided as security
Time deposits¥40 million
Secured debts
Corporate bonds redeemable within 1¥10 million
year
Current portion of long-term¥30 million
borrowings within 1 year
*2 Related to non-consolidated subsidiaries and affiliates
Investment securities (shares)¥2,208 million
3 Contingent liabilities
The Company provides payment guarantees for sales ofpachinko/pachislot machines to pachinko halls fromgaming machine manufacturers when acting as arepresentative in such sales.
Niimi Co., Ltd.
¥47 million
K.K. Shouei Project¥35 million
K.K. Ichiroku Shoji¥31 million
K.K. Taisei Kanko¥30 million
Iwamoto Development Co., Ltd.
¥28 million
Y.K. Daiko¥22 million
K.K. The City
¥21 million
Meiplanet Co., Ltd.
¥17 million
R&K Company Limited¥17 million
K.K. NK Grand¥16 million
Others (286)¥554 million
Total¥824 million
4 Overdraft agreements
To raise working capital efficiently, the Fields group has
concluded an overdraft agreement with 4 banks. Unutilizedbalances under these agreements as of March 31, 2011,were as follows:
Overdraft limit¥17,100 million
Borrowings outstanding¥85 million
Difference¥17,015 million- 27 -

(Consolidated statements of income)Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)*1 Gain on sale of fixed assets are as follows:
Buildings and structures¥0 million
Vehicles¥0 million
Tools, furniture and fixtures¥0 millionLand¥44 million
Total¥46 million*2 Details of loss on sale of fixed assets are as follows:
Tools, furniture and fixtures¥4 million*3 Details of loss on disposal of fixed assets are as follows:
Buildings and structures¥399 million
Tools, furniture and fixtures¥8 million
Software¥22 million
Total¥430 million*4 Impairment loss
The Fields group has stated an impairment loss for the asset
set out below.
Usage
Miscellaneous business-related assets
Buildings and structures
Type
Tools, furniture and fixtures
Location
Minato-ku, Tokyo
Amount¥18 million
When grouping its assets, with regard to business-use assets,
the Fields group adopts the method of grouping primarily bybusiness category in accordance with management accounting
practice.
With regard to the miscellaneous business-related assets, theGroup has recognized losses, which consist of ¥18 million on
the buildings and structures as well as the tools, furniture andfixture because these properties have been left on idle
conditions without a defined usage for the future.
The recoverable value of these properties has been calculatedon the basis of value in use because net selling prices are notavailable, but such recoverable value is appraised at 0 because
no future cash flow is expected.

*1

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)
———

*2

———

*3

———

*4 Impairment loss
The Fields group has stated an impairment loss for the asset
set out below.
Usage
Miscellaneous business-related assets
Buildings and structures
Type
Tools, furniture and fixtures
Location
Setagaya-ku, Tokyo and other places
Amount¥44 million
When grouping its assets, with regard to business-use assets,
the Fields group adopts the method of grouping primarily bybusiness category in accordance with management accounting
practices.
With regard to miscellaneous business-related assets, theGroup has recognized losses, which consist of ¥38 million onbuildings and structures and ¥6 million on tools, furniture, andfixtures, because it planned to relocate its offices and disposedof the assets earlier than initially planned, and as a result, it
could not expect to recover their book value.
The recoverable value of these properties has been calculatedon the basis of value in use because net selling prices are notavailable, but such recoverable value is appraised at 0 because
no future cash flow is expected.

- 28 -

(Consolidated statements of comprehensive income)Fiscal year ended March 31, 2011 (April 1, 2010–March 31, 2011)*1 Comprehensive income for the consolidated fiscal year immediately preceding the current consolidated fiscal year
Comprehensive income attributable to owners of the parent
Comprehensive income attributable to minority interests
Total¥3,569 million¥29 million¥3,598 million*2 Other comprehensive income for the consolidated fiscal year immediately preceding the current consolidated fiscal year
Unrealized holding gain on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of associates accounted for using equity method
Total¥280 million¥0 million¥(0) million¥280 million(Consolidated statements of changes in net assets)
Fiscal year ended March 31, 2010 (April 1, 2009–March 31, 2010)

1 Shares issued
Type

As of March 31, 2009

Common stock (shares)

Increase

Decrease

347,000-

As of March 31, 2010-

347,000

2 Treasury shares
Type

As of March 31, 2009

Common stock (shares)

Increase

10,643

Decrease
4,242

As of March 31, 2010-

14,885(The reason for the changes)
Description of the increase is as follows.
Increase due to the purchase of treasury stock based on a resolution at the Meeting of Board of Directors: 4,242 shares

3 Stock acquisition rights
No relevant items

4 Dividends(1) Dividends paid
Resolution
Ordinary general meeting ofshareholders on June 25, 2009
Meeting of the board of
directors on November 5, 2009

Total dividends
paid(Million yen)Type

Amount ofdividends per
share (Yen)

Cut-off date

Effective date

March 31, 2009

June 26, 2009

Common stock

840

2,500

Common stock672

2,000 September 30, 2009 December 4, 2009

(2) Dividends for which the cut-off date came during the fiscal year ended on March 31, 2010, but the effective date will comeduring the fiscal year ended on March 31, 2011 or thereafter
Resolution

Type

Ordinary general meeting ofshareholders on June 23,
2010

Common stock

Total dividends
paid(Million yen)

Source forpayment ofdividends

830

Retainedearnings- 29 -

Amount ofdividends per
share (Yen)

Cut-off date

2,500 March 31, 2010

Effective dateJune 24, 2010

Fiscal year ended March 31, 2011 (April 1, 2010–March 31, 2011)
1 Shares issued
Type

As of March 31, 2010

Increase

Decrease

347,000

Common stock (shares)-

As of March 31, 2011-

347,000

2 Treasury shares
Type

As of March 31, 2010

Increase

Decrease

14,885

Common stock (shares)-

As of March 31, 2011-

14,8853 Stock acquisition rights
No relevant items

4 Dividends(1) Dividends paid
Resolution

Total dividends
paid(Million yen)Type

Ordinary general meeting ofshareholders on June 23, 2010
Meeting of the board of
directors on November 4, 2010

Amount ofdividends per
share (Yen)

Cut-off date

Effective date

March 31, 2010

June 24, 2010

Common stock

830

2,500

Common stock830

2,500 September 30, 2010 December 3, 2010

(2) Dividends for which the cut-off date came during the fiscal year ended on March 31, 2011 but the effective date will comeduring the fiscal year ending on March 31, 2012 or thereafter
Resolution

Type

Ordinary general
meeting of shareholders
on June 22, 2011

Common stock

Total dividends
paid(Million yen)

Source forpayment ofdividends

830

Retainedearnings- 30 -

Amount ofdividends per
share (Yen)

Cut-off date

2,500 March 31, 2011

Effective dateJune 23, 2011

(Consolidated statements of cash flows)
Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)*1 Relationship between cash and cash equivalents as of theend of the fiscal year and cash amounts stated on the
consolidated balance sheets(As of March 31, 2010)
Cash and deposit accounts¥15,916 million
Time deposits of which depositing¥(10) million
period exceeds 3 months
Cash and cash equivalents¥15,906 million*2———

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)*1 Relationship between cash and cash equivalents as of theend of the fiscal year and cash amounts stated on the
consolidated balance sheets(As of March 31, 2011)
Cash and deposit accounts¥15,873 million
Time deposits of which depositing¥(200) million
period exceeds 3 months
Deposits provided as security¥(40) million
Cash and cash equivalents¥15,632 million*2 Breakdown of the principal assets and liabilities ofcompanies that became new consolidated subsidiaries
through the acquisition of shares
The breakdown of assets and liabilities at the start ofconsolidation as a result of new consolidation through theacquisition of shares and the relationship between theacquisition price for shares and expenditure incurred by theacquisition (net amount) are as shown below.
Tsuburaya Productions Co., Ltd.
As of March 31, 2010
Current assets¥611 million
Fixed assets¥456 million
Goodwill¥2,055 million
Current liabilities¥(1,919) million
Fixed liabilities¥(112) million
Acquisition price¥1,091 million
Cash and cash equivalents¥(53) million
Expenditure incurred by¥1,037 million
the acquisition
Digital Frontier Inc.
Current assets
Fixed assets
Goodwill
Current liabilities
Fixed liabilities
Minority interests
Acquisition priceCash and cash equivalents
Expenditure incurred by
the acquisition(Including GEMBA Inc.)As of March 31, 2010
¥423 million¥181 million¥579 million¥(509) million¥(1) million¥(24) million¥650 million¥(37) million
612 million

MICROCABIN CORP.
Current assets
Fixed assets
Goodwill
Current liabilities
Fixed liabilities
Minority interests
Acquisition priceCash and cash equivalents
Expenditure incurred by
the acquisition- 31 -

As of December 31, 2010
¥535 million¥319 million¥338 million¥(204) million¥(159) million¥(73) million¥756 million¥(214) million¥541 million

(Segment information)(Segment information by business category)
Fiscal year ended March 31, 2010 (April 1, 2009–March 31, 2010)

I Net sales and operating
income or loss
Net sales(1) Net sales to third
parties(2) Inter-group net sales ortransfers
Total
Operating expenses
Operating income (loss)
II Assets, depreciation andamortization, impairment loss
and capital expenditure
AssetsDepreciation and amortization
Impairment loss
Capital expenditure(Unit: Million yen)
Elimination
Consolidatedor
incorporation

Pachinko/
Pachislot(PS) Field

SportsEntertainment
Field

Mobile
Field

Other Field

62,120

2,385

1,818

18

66,342-

66,342

259

31

2

601

895

(895)

-

62,37954,246
8,133

2,416
2,741
(324)

1,821
1,427
393

619
689
(70)

67,237
59,105
8,131

(895)
(887)
(7)

66,342
58,217
8,124

80,885
1,153
700

1,631
95
18
19

1,018
120
186

518
10
13

84,055
1,380
18
920

(2,726)(12)-

81,329
1,368
18
920

Total

(Notes) 1 Based on the proximity of merchandises and services or others provided, the Fields Corporation’s businesses are segmented into
Pachinko/Pachislot (PS) Field, Sports Entertainment Field, Mobile 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) Sports Entertainment Field: Sports management and related activities(3) Mobile Field: Mobile content, etc.
(4) Other Field: Planning and production of animation, movie production, etc.
3 All operating expenses are allocated to individual segments, and thus none remain unallocated.
4 All assets are allocated to individual segments, and thus there are no assets that are regarded as being corporate assets.

- 32 -

5 Additional information
The planning, development and sales business of packaged software, such as game software, which had been included in the Game
Field segment in previous years, was dissolved during the previous fiscal year as a result of the sale of shares in subsidiaries.
The sports management business had been included in the Sports Field segment in previous years. In light of new businessdevelopments, the Company renamed the segment as the Sports Entertainment Field segment effective with the year ended March 31,
2010.
The digital content creation and copyright acquisition business, which had been included in the Movies Field segment in previous
years, was dissolved during the previous fiscal year as a result of the merger and absorption of the business as a surviving entity into
the Company. In addition, the movie production business has been included in the Other Field segment effective with the year ended
March 31, 2010 as the value of the business is no longer material.
The mobile content business had been included in the Web Service Field segment in previous years. In light of business developments
such as an expansion of service provision for mobile content, the Company renamed the segment as the Mobile Field segment effectivewith the year ended March 31, 2010.
The following is the segment information for the year ended March 31, 2009 which is based on the business categories adopted in theyear ended March 31, 2010.

(Unit: Million yen)
Pachinko/
SportsMobilePachislot Entertainment
Field
Field
(PS) Field
I Net sales and operating
income or loss
Net sales(1) Net sales tothird parties(2) Inter-group net
sales or transfers
Total
Operating expenses
Operating income (loss)
II Assets, depreciation andamortization,
impairment loss andcapital expenditure
AssetsDepreciation andamortization
Impairment loss
Capital expenditure

Game
Field

Movies
Field

Other
Field

Total

Elimination
orConsolidated
incorporation

55,257

3,551

1,608

12,50410

101

73,035-73,035

467

37

0

88

-

17

612

(612)

-

55,724
51,693
4,031

3,589
4,126
(537)

1,609 12,593
1,153 13,883
455 (1,289)

10
106
(95)

119
703
(584)

73,647
71,667
1,980

(612)
(593)
(19)

73,03571,074
1,960

50,927

1,988

1,033

-

-

461

54,411(2,346)52,064

1,418

161

81

108

-

4

1,774

(14)

1,760

15
4,442

6
124

128

130
62

-

18

152
4,776

(9)

152
4,767

(Segment information by region)
Fiscal year ended March 31, 2010 (April 1, 2009–March 31, 2010)
The disclosure of segment information by region was omitted because Japan accounted for more than 90% of total net sales inall segments and total assets in all segments, respectively.
(Overseas sales)
Fiscal year ended March 31, 2010 (April 1, 2009–March 31, 2010)
Because overseas sales accounted for less than 10% of the consolidated net sales, the disclosure of overseas sales has been
omitted.

- 33 -

(Segment information)
1

General information about reportable segment
The reportable segments of the Company are business units of the Fields Group for which the Company is able to obtain
individual financial information separately in order for the board of directors to conduct periodic investigation to determine
distribution of management resources and evaluate their business performance.
The Company’s reportable business segments are based on groups of similar products, services, etc., which are segmented into
Pachinko/Pachislot (PS) Field, Mobile Field, Sports Entertainment Field and Other Field.
Major operations covered by each reportable segment include the purchase and sale, planning, and development ofpachinko/pachislot machines, as well as related operations incidental thereto for the Pachinko/Pachislot (PS) Field, mobile
content, etc. for the Mobile Field, sports management and related activities for the Sports Entertainment Field, and planningand production of videos such as movies and TV programs, as well as planning, production, sale, etc. of character goods in the
Other Field.

2

Method for calculating the amount of net sales, income or loss, assets, liabilities, and other items in each reportable segment
In general, the method for the accounting of reportable business segments is the same as that described in the “Basis ofpresentation of the consolidated financial statements.”

3

Information on the amount of net sales, income or loss, assets, liabilities, and other items in each reportable segment
Fiscal year ended March 31, 2010 (April 1, 2009–March 31, 2010)(Unit: Million yen)
Pachinko/
SportsPachislot Mobile Field Entertainment Other Field
Field(PS) Field

Total

Adjustment(Note 1)

Amount in the
consolidated
statement ofincome (Note 2)

Net sales
Net sales to third parties

62,120

1,818

2,385

18

66,342-

66,342

Inter-group net sales or transfers

259

2

31

601

895

(895)

-

Total

62,379

1,821

2,416

619

67,237(895)

66,342

Segment income

8,133

393

(324)

(70)

8,131

(7)

8,124

Segment assets

80,885

1,018

1,631

518

84,055(2,726)

81,329

1,153

120

95

10

1,380

(12)

1,368

-

-

18

-

18

-

18

Investments in companies towhich the equity method
applies

598

-

-

1,393

1,991

-

1,991

Amortization of goodwill

16

-

70

-

87

-

87

Increase (decrease) in tangible
fixed assets and intangible fixed
assets

700

186

19

13

920

-

920

Other items
Depreciation and amortization
Impairment loss

(Note) 1.
2.

The adjustments for segment income (−¥7 million), segment assets (−¥2,726 million), and depreciation and amortization(−¥12 million) are due to the write-off of intersegment transactions.
The segment income is adjusted with operating income in the consolidated statement of income.

- 34 -

Fiscal year ended March 31, 2011 (April 1, 2010–March 31, 2011)(Unit: Million yen)
Pachinko/
SportsPachislot Mobile Field Entertainment Other Field
Field(PS) Field

Adjustment(Note 1)

Amount in the
consolidated
statement ofincome (Note 2)

103,593-

103,593Total

Net sales
Net sales to third parties

93,880

1,990

2,143

5,578

Inter-group net sales or transfers

234

41

27

303

606

(606)

-

Total

94,115

2,032

2,171

5,881

104,200(606)

103,593

Segment income

12,866

236

(290)

315

13,127

8

13,136

Segment assets

75,210

1,422

904

6,128

83,667(4,695)78,971

1,290

179

96

171

1,738

(4)

1,734

9

4

2

28

44

-

44

Investments in companies towhich the equity method
applies

598

-

-

1,398

1,996

-

1,996

Amortization of goodwill

24

-

212

270

507

-

507

1,144

498

52

2,973

4,669

(14)

4,655

Other items
Depreciation and amortization
Impairment loss

Increase (decrease) in tangible
fixed assets and intangible
fixed assets(Note) 1.
2.

The adjustments for segment income (¥8 million), segment assets (−¥4,695 million), depreciation and amortization (−¥4 million), andincrease (decrease) in tangible fixed assets and intangible fixed assets (−¥14 million) are due to the write-off of intersegment
transactions.
The segment income is adjusted with operating income in the consolidated statement of income.

(Additional information)
From the first quarter of the year ended March 31, 2011, the Company applies the Accounting Standard for Disclosures about
Segments of an Enterprise and Related information (ASBJ Statement No. 17 issued on March 27, 2009) and AccountingStandard for Disclosures about Segments of an Enterprise and Related information (ASBJ Guidance No. 20 issued on March
21, 2008).

- 35 -

(Related information)
Fiscal year ended March 31, 2011 (April 1, 2010–March 31, 2011)
1

Information on each product and service
Information on each product and service has been omitted because net sales to external customers in a single product or service
category accounted for more than 90% of net sales in the consolidated statement of income.

2

Information on each region(1) Net sales
Information on net sales in each region has been omitted because net sales to external customers in Japan accounted formore than 90% of net sales in the consolidated statement of income.

(2) Tangible fixed assets
Not applicable because the Company does not have tangible fixed assets outside Japan.
3

Information on each major customer
Customer name

(Unit: Million yen)
Name of the related segment

Net sales

Bisty Co., Ltd.

13,350Pachinko/ Pachislot (PS) Field(Information on impairment loss for fixed assets in each reportable segment)
Fiscal year ended March 31, 2011 (April 1, 2010–March 31, 2011)(Unit: Million yen)

Impairment loss

Pachinko/
Pachislot (PS)Field
9SportsMobile Field Entertainment
Field
4
2

Other Field

Total

28

44

(Information on the amount of amortization of goodwill and balance in each reportable segment)
Fiscal year ended March 31, 2011 (April 1, 2010–March 31, 2011)(Unit: Million yen)
Pachinko/
Pachislot (PS)
Field

SportsEntertainment
Field

Mobile Field

Other Field

Total

Amortization for the year
ended March 31, 2011

24

-

212

270

507

Balance at the end of the year
ended March 31, 2011

340

-

-

2,461

2,801

(Information on gain on negative goodwill in each reportable segment)
Fiscal year ended March 31, 2011 (April 1, 2010–March 31, 2011)
No relevant items- 36 -

(Per-share data)
Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)
Net assets per share¥123,645.89
Net income per share¥9,796.56
Since no latent shares exist, diluted net income per share is notstated.

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)
Net assets per share¥140,853.00
Net income per share¥22,643.86
Same as at left

(Note) The calculation basis for net income per share is as follows.
Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)
3,289

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)
7,520

-

-

Net income allocable to common shares (Million yen)

3,289

7,520

Average number of shares of common stock outstanding(shares)

335,749

332,115

Net income (Million yen)Amount not allocable to common shares

Outline of latent shares not reflected in the calculationof diluted net income per share since they have no
dilutive effect———- 37 -———

(Significant subsequent events)
Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)(Takeover of companies, etc. through the acquisition of shares)
The Company resolved at its Board of Directors’ Meeting heldon March 17, 2010 to acquire shares of Tsuburaya Productions
Co., Ltd., concluded a share transfer agreement with TYO Inc.
on April 2, 2010 and subsequently acquired 51.00% of
Tsuburaya Productions Co., Ltd.’s issued and outstanding shareson the same day.
(1) Purpose of share acquisition
The Company acquired the Tsuburaya Productions Co., Ltd.,
shares since this acquisition will enable the development ofbusinesses that create added value in a variety ofentertainment fields while contributing to the enhancementof the Group’s corporate value, due mainly to the following
reasons: i) By acquiring shares of Tsuburaya Productions
Co., Ltd., which owns high-value intellectual property (IP)that have been used in various fields, the Company will
benefit from the active use of them in new character
merchandising fields and in the pachinko/pachislot field aswell as the multiple use through the Group companies, inaddition to enhancing the value of these IP through thedevelopment of new visual production and series; and ii)
With regard to global markets, these IP have the potential togrow overseas in the same way as they have in Japan.
(2) Company from which shares were acquired
TYO Inc.
(3) Name, business activities, scale of operations of the acquiredcompany[1] Company name: Tsuburaya Productions Co., Ltd.
[2] Main business activities: Planning and production of films
and TV programs; planning, production and sales ofcharacter goods[3] Scale of operations (Fiscal year ended July 31, 2009)
Paid-in capital: ¥310 million
Total assets: ¥1,862 million
Net assets: ¥(832) million(4) Date of share acquisition
April 2, 2010(5) Number of transferred shares, transfer price andshareholding ratio after transfer[1] Number of shares held before transfer: – shares(Shareholding ratio: –%)[2] Number of transferred shares: 51,000 shares (Transfer
price: ¥1,091 million)[3] Number of shares held after transfer: 51,000 shares(Shareholding ratio: 51.00%)(6) Method of financing for the payment
The Company’s own capital(7) Details of other important covenants
The Company acquired 4,887,000 shares of TYO Inc.’sstock (shareholding ratio: 14.99%) for ¥366 million throughthe disposal of third-party allocation of treasury stock as ofApril 2, 2010.
In addition, the Company has provided ¥1,274 million in
operating fund to Tsuburaya Productions Co., Ltd.

- 38 -

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)———

Fiscal year ended March 31, 2010
(April 1, 2009–March 31, 2010)
The Company resolved at its Board of Directors’ Meeting heldon March 25, 2010 to acquire shares of Digital Frontier Inc.,
concluded a share transfer agreement with TYO Inc. on April
15, 2010 and subsequently acquired 74.31% of Digital Frontier
Inc.’s issued and outstanding shares on April 16, 2010.
(1) Purpose of share acquisition
The Company acquired the Digital Frontier Inc. shares
since this acquisition will enable the development ofbusinesses that create synergies and added value in a varietyof visual entertainment fields while contributing to theenhancement of the Group’s corporate value, due mainly tothe following reasons: i) acquiring shares of Digital FrontierInc., which is equipped with state-of-the-art CG technology,aligns with the Company’s strategy to promote theenhancement of its planning and development capabilities
in the field of pachinko/pachislot machines, and should
facilitate higher quality and faster time-to-market in future
development and commercialization of pachinko/pachislot
machines; and ii) this should also allow the Company to set
up cross-disciplinary collaborations including a tie-up witha group company equipped with technology to convert
animation into 3D.
(2) Company from which shares were acquired
TYO Inc.
(3) Name, business activities, scale of operations of theacquired company[1] Company name: Digital Frontier Inc.
[2] Main business activities: Planning and production ofcomputer graphics[3] Scale of operations (Fiscal year ended July 31, 2009)
Paid-in capital: ¥31 million
Total assets: ¥432 million
Net assets: ¥189 million(4) Date of share acquisition
April 16, 2010(5) Number of transferred shares, transfer price andshareholding ratio after transfer[1] Number of shares held before transfer: – shares(Shareholding ratio: –%)[2] Number of transferred shares: 353 shares (Transfer price:¥650 million)[3] Number of shares held after transfer: 353 shares(Shareholding ratio: 74.31%)(6) Method of financing for the payment
The Company’s own capital(7) Details of other important covenants
The Company has provided ¥100 million in operating fundto Digital Frontier Inc.

- 39 -

Fiscal year ended March 31, 2011
(April 1, 2010–March 31, 2011)———

5. Others(1) Personnel change in officers[1]

Change in Representatives of the Company
No relevant items[2]

Change in other officers
No relevant items(2) Others
No relevant items- 40 -