(Translation)

May 15, 2020
To all parties concerned:
FIELDS CORPORATION
Chairman, President and Group CEO:
Hidetoshi Yamamoto(TSE 1st: 2767)
Inquiries: Hideaki Hatanaka
Corporate Officer, General Manager,
Business Management Department
Tel.: +81-3-5784-2111

Notification of Partial Revisions of Summary of Financial Information and Business Results for
the Nine Months Ended December 31, 2019 (revision of texts and numerical data)
FIELDS CORPORATION hereby announces that it has partially revised the Summary of Financial Information andBusiness Results for the Nine Months Ended December 31, 2019 released on February 14, 2020. The Company also hereby
announces the revision of numerical data.

1. Details and reason of revision
Please refer to the Notification Regarding Partial Revision of Summary of Financial Information and Consolidated
Business Results, etc. for the Previous Fiscal Year announced on May 15, 2020.
2. Revised parts
The whole revised sentence is attached, and the revisions are marked with underline.

1Summary(Translation)

FIELDS CORPORATION
Summary of Financial Information and Consolidated Business Results
for the Nine Months Ended December 31, 2019 (Year Ending March 31, 2020) (Japan GAAP)
February 14, 2020
Listed on: TSE 1st
Company Name:
Stock code:
Representative Director:
Inquiries:
Tel:

FIELDS CORPORATION(URL: https://www.fields.biz/ir/e/)
2767
Hidetoshi Yamamoto
Chairman, President and Group CEO
Hideaki Hatanaka
Corporate Officer+81-3-5784-2111

Planned date for submission of the quarterly report:
Planned date for start of dividend payment:
Quarterly earnings supplementary explanatory materials:
Quarterly financial briefing:

February 14, 2020―
No
Yes (For institutional investors and security analysts)(Rounded down to the nearest million)

1. Consolidated business results for the nine months ended December 31, 2019 (April 1, 2019 to December 31, 2019)(1) Consolidated operating results (cumulative total)(Percentage figures denote YoY changes)
Net sales
Nine months ended
December 31, 2019
Nine months ended
December 31, 2018
(Note) Comprehensive income

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

37,165(1.2)(4,113)―(3,970)―(4,287)―

37,615(16.9)(1,261)―(1,314)

―

(14)

―

Nine months ended December 31, 2019: ¥ (4,762) million (―%)
Nine months ended December 31, 2018: ¥ (90) million (―%)

Profit per share
Nine months ended
December 31, 2019
Nine months ended
December 31, 2018

Diluted profit per share
Yen

Yen

(129.22)―(0.42)―(2) Consolidated financial position

Millions of yen

Millions of yen

Shareholders’ equity
ratio%

52,34729,54455.7

67,45034,63850.8

Total assets
Nine months ended
December 31, 2019Year ended March 31, 2019
(Reference) Shareholders’ equity

Net assets

Nine months ended December 31, 2019: ¥ 29,136 million
Year ended March 31, 2019: ¥ 34,233 million

2. Dividends
Q1-endYear ended March 31, 2019Year ending March 31, 2020
Year ending March 31, 2020

Annual dividends
Q3-endQ2-endYear-end

Annual

Yen

Yen

Yen

Yen

Yen

―
―

0.00
0.00

―
―

10.00

10.00

―

10.00

10.00

(Forecast)(Note) Revision of the most recently released dividend forecasts: No

3. Forecast of consolidated earnings for the fiscal year ending March 31, 2020 (April 1, 2019 to March 31, 2020)

Millions of yen%

Millions of yen

%

100

―

300

―

(100)

Operating profit
Full-year(Percentage figures denote YoY changes)
Profitper share

Profit attributable toowners of parent
Millions of yen%

Ordinary profit(Note) Revision of the most recently released performance forecasts: Yes
FIELDS CORPORATION discloses a full-year business forecast, as it manages its business performance on an annual basis.
A full-year forecast of net sales is not disclosed considering the current pachinko/pachislot market environment.

―

Yen(3.01)

*Notes(1) Transfer of important subsidiaries during the year under review (Transfer of specific subsidiaries that results in a change in thescope of consolidation): No(2) Application of the accounting method specific to quarterly consolidated financial statements: Yes(3) Changes in accounting policies, accounting estimates, and revisions/restatements
1) Changes in account policies due to the revision to the accounting standards, etc.: No
2) Changes in accounting policies due to any reason other than those in 1) above: No
3) Changes in accounting estimates: No4) Revisions/restatements: No(4) Number of shares issued (common shares)
1) Number of shares issued at end of year (including treasury shares)
Nine months ended December 31, 201934,700,000 sharesYear ended March 31, 201934,700,000 shares
2) Number of shares of treasury shares at end of year
Nine months ended December 31, 2019
1,516,300 sharesYear ended March 31, 2019
1,516,300 shares
3) Average number of shares outstanding (quarterly consolidated cumulative period)
Nine months ended December 31, 201933,183,700 shares
Nine months ended December 31, 201833,183,700 shares* Summary of Financial Information and Consolidated Business Results are not subject to audit.
* Explanation of the appropriate usage of forecast earnings and other specific matters# This document contains projections of performance and other projections that were made based on information currently available
and certain assumptions judged to be reasonable. The actual results may differ significantly from forecast figures due to the various
factors. Please refer to (1) Analysis of operating results and consolidated earnings forecasts under 1. Qualitative information on thequarterly financial results on page two of the attached documents for details of assumptions for financial forecasts and other related
matters.
# The Company is planning to hold a financial briefing for analysts and institutional investors on Monday, February 17, 2020.
Materials distributed at that briefing will be posted on the Company’s website after the briefing as soon as possible.

Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019

Table of contents of Attached Document
1. Qualitative information on the quarterly financial resultsꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 2(1) Analysis of operating results and consolidated earnings forecasts .......................................................................2(2) Analysis of financial position...............................................................................................................................4
2. Quarterly consolidated balance sheets and important notes ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ 5(1) Quarterly consolidated balance sheets .................................................................................................................5(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income................7(3) Quarterly consolidated statements of cash flows .................................................................................................9(4) Note regarding the quarterly consolidated financial statements .........................................................................10(Note regarding the operation of the company as a going concern) .................................................................... 10(Note regarding occurrence of significant change in amount of shareholders’ equity) ........................................ 10(Application of the accounting method specific to quarterly consolidated financial statements) ........................ 101

Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019

1. Qualitative information on the quarterly financial results(1) Analysis of operating results and consolidated earnings forecasts[Market environment and our initiatives]
In pachinko/pachislot market, two years have passed since the Regulation for Enforcement of the Amusement Businesses
Law*1 on February 1, 2018, and manufacturers are steadily developing and introducing new-regulation machine to the market.
In December 2019, voluntary regulations were revised in pachislot machine by Nihon Dendo-shiki Yugiki Kyodo Kumiai(abbreviated as Nichidenkyo) , a union of pachislot machine manufacturers, and Nihon Yugiki Kogyo Kumiai (abbreviated as
Nikkoso), a union for pachinko machine manufacturers related to pachislot machines. In addition, in accordance with therevision of the “Interpretation Standards for Technical Standards” issued by the National Police Agency in pachinko machine(effective January 2020), Nikkoso changed its internal regulation. Both are expected to invigorate markets, with the aim offurther diversifying game function, on the assumption that games will be enjoyed within a reasonable amount of money
consumed.
Amid these market conditions, manufacturers have continued to actively apply for merchandise compliance. Normally, thenumber of model certification test applications accepted by Hotsukyo*2 is around 80 per month for each pachinko/pachislot.
However, in January 2020, the number of applications filed with model certification test reached approximately 770 per monthfor pachinko and approximately 1,450 per month for pachislot, making it extremely difficult for the manufacturers to apply themachines.
Under these circumstances, we are working to introduce merchandise that captures market demands under the new regulation.

*1) Regulation Partially Amending the Ordinance for Enforcement of the Act on Control and Improvement of Amusement Business, etc. and the Regulations for the Verification of Licenses,
Formats and Other Aspects of Pachinko and Pachislot Machines effective on February 1, 2018
*2) The Security Communications Association (Hotsukyo)... National public safety commission designated testing institute conducting model certification test of pachinko/pachislot machine[Consolidated results for the Q3 of the current fiscal year (Apr.-Dec.) ]In the cumulative Q3 of the current fiscal year (Apr.-Dec.), pachinko/pachislot sales recorded 98,900 units.
In addition, pachinko/pachislot machine installation and inspection business grew to ¥130 million in net sales (+ approx. 1.8
times YoY) and the web advertising business grew to ¥568 million in net sales (+approx. 1.8 times YoY).
In the Q3 (Oct.-Dec.) of the current fiscal year, we accepted orders and sold merchandises listed in Table 1.
In the pachinko market, NEON GENESIS EVANGELION Rebirth of Angels has become a hit product with a total sales volumeof 35,000 units, and PACHINKO 6 ULTRAMAN BROTHERS and PACHI SLOT Onimusha: Dawn of Dreams are all selling out
their planned units. Most of merchandise sold and ordered in the Q3 are expected to be recorded as sales in the Q4.
The status of major consolidated subsidiaries is as follows.
Tsuburaya Productions Co., Ltd. continues to promote the monetization of movies and televisions and overseas businesstargeting China and other Asian countries. In particular, licensing operations in China, including toys, were favorable on thewhole. In particular, sales of trading card games, which were launched in December 2018, are performing well, and we expect
sales to continue going forward. In addition, we are considering strategies to expand merchandises developed in China to theentire Southeast Asian region.
Digital Frontier Inc., which is engaged in the imaging business, produced 3DCG videos for Fate/Grand Order-Absolute
Demonic Front: Babylonia, an anime currently being distributed in NETFLIX and elsewhere.
In overseas projects, the Company is commissioned by a major chinese game company to produce CGs for game images.
FutureScope Corp., which is responsible for internet services, has developed online marketing tools that utilize its proprietary
technologies to analyze commercial areas for pachinko halls and provide online advertising distribution services. The Company
is aiming to expand sales channels for these tools.
Total Workout, a personal training gym, which owns three gyms in Shibuya, Roppongi, and Fukuoka, plans to open 3 newgyms in Tokyo. In addition, it will develop various services that transcend the boundaries of the healthcare business in order tofurther strengthen its long-term relationships with its members through the subscription model.
SPO Entertainment Inc., our equity-method affiliate, sells and distributes Asian TV dramas in packages, and also operates
Asian film businesses in Shinjuku and Shinsaibashi. In addition to conventional package sales, the popularity of Asian TV
dramas has contributed to strong sales of VOD services, and results have been favorable.
As a result of the above, the consolidated results for the cumulative period of the Q3 resulted in a net sales of ¥37,165 million(1.2% decrease YoY), an operating loss of ¥4,113 million (increase of ¥2,851 million YoY), an ordinary loss of ¥3,970 million
2Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019

(increase of ¥2,656 million YoY), and loss attributable to the parent of ¥4,287 million (increase of ¥4,273 million YoY).
[Q4 (Jan.-Mar.) and full-year earnings forecast]
The total number of machines sold in pachinko/pachislot market during the fiscal year under review was approximately 1.16
million pachinko and 510,000 pachislot machines, which is lower than we had anticipated sales of pachislot machines at the
beginning of the fiscal year. We guess that the primary factor for this was that the self-imposed restrictions on the installation
ratio of pachislot high-gaming machines by Zennichiyuren (a union for pachinko and pachislot halls) in November 2019 was
postponed due to the fact that supply of merchandise was insufficient, and this has had little impact on pachinko halls’ demand
to purchase the merchandise. Against this backdrop, we forecast sales of approximately 140,000 pachinko and 60,000 pachislot
machines during the fiscal year under review, falling short of our forecast for pachislot machines.
Furthermore, the lengthening of application and compliance of model certification test has affected our sales and delivery ofpachislot machines. PACHI SLOT Onimusha: Dawn of Dreams was certified in December, and sales and orders commenced in
the same month. Its delivery schedule was set in March and the planned number of units was sold out. The pachislot machine
EVANGELION FESTIVAL was launched in January and delivered in March, the same month as PACHI SLOT Onimusha: Dawn
of Dreams (see Table 1).
In addition to the aforementioned merchandise, in order to achieve our business plans, we have prepared to introduce
compliant title, including merchandise by a consolidated manufacturing subsidiary. However, in light of the purchasing
capacity of pachinko halls and replacement demand for old regulation machines in the next fiscal year (approximately 1.47
million pachinko machines and approximately 1.08 million pachislot machines), we plan to sell these machines around the
public holidays in May of the next fiscal year.
As a result, the consolidated results for the fiscal year under review are expected to be affected. For details of the revisions to
the forecasts, please refer to the “Notification of Revisions to Performance Forecast” announced on February 14, 2020.
Table 1) Sales of major titles in the H2

Type

Title

Month ofcommencement Delivery
Manufacturerof sales andmonthordersPayumi hamasaki-LIVE in CASINO-

D-light

July

October

Bisty

July

EXCITESSPPS

CARD BATTLE PACHI-SLOT
MOBILE SUIT GUNDAM
X-OVER
Pachislot Salaryman Kintaro-MAXNEON GENESISEVANGELION
Rebirth of Angels
PACHINKO 6 ULTRAMAN
BROTHERSPACHI SLOT Onimusha: Dawn
of Dreams

Total unit
sales

Q3
Unit sales

Q4
Unit sales(forecast)

4,400 units

4,400 units－

October

8,400 units

7,900 units(500 units
recorded in Q2)

AugustNovember

12,600 units

9,000 units

3,600 units

Bisty

October

December

35,000 units

4,100 units

30,900 units

OK!!

NovemberJanuary, 2020

20,400 units

100 units

20,300 units

Enterrise

December

March, 2020

20,000 units－

20,000 unitsS

EVANGELION FESTIVAL

Bisty

January, 2020

March, 2020

5,000 units－

5,000 units

P

Other pachinko machines sales－－

Oct.-Mar.

17,400 units

8,500 units

8,900 units

S

Other pachislot machines sales－－

Oct.-Mar.

2,300 units

400 units

1,900 units

H2 sales (forecast)

125,000 units(NOTE) Merchandise names are trademarks or registered trademarks of their respective companies.

3

Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019(2) Analysis of financial position(Assets)
Current assets decreased by ¥9,272 million from the end of the previous fiscal year to ¥38,113 million. This was mainly due
to a decrease in cash and deposits and a decrease in trade receivables.
Property, plant and equipment decreased ¥1,231 million from the end of the previous fiscal year to ¥4,933 million. This was
mainly due to a decrease in tools, furniture and fixtures.
Intangible assets decreased ¥173 million from the end of the previous fiscal year to ¥2,997 million. This was mainly due toa decrease in goodwill.
Investments and other assets decreased ¥4,425 million from the end of the previous fiscal year to ¥6,302 million. This was
mainly due to a decrease in investment securities.
As a result, total assets amounted to ¥52,347 million, down ¥15,102 million from the end of the previous fiscal year.
(Liabilities)
Current liabilities decreased ¥6,026 million from the end of the previous fiscal year to ¥15,447 million. This was mainly
due to a decrease in trade payables and a decrease in short-term borrowings.
Non-current liabilities decreased ¥3,982 million from the end of the previous fiscal year to ¥7,355 million. This was mainly
due to a decrease in long-term borrowings.
As a result, total liabilities amounted to ¥22,803 million, down ¥10,008 million from the end of the previous fiscal year.
(Net assets)
Net assets decreased by ¥5,094 million from the end of the previous fiscal year to ¥29,544 million. This was mainly due toa decrease in retained earnings.
(Analysis of cash flows)
Cash and cash equivalents (hereinafter referred to as “cash”) at the end of the third quarter of the current fiscal year
decreased by ¥6,255 million from the end of the previous fiscal year to ¥22,552 million.
(Cash flows from operating activities)
Net cash used in operating activities was ¥1,877 million (¥380 million used in the same period of the previous fiscal year).
This was mainly attributable to loss before income taxes of ¥4,212 million, a decrease in trade payables of ¥4,337 million, adecrease in trade receivables of ¥3,525 million, depreciation of ¥1,052 million, and amortization of equity investment of¥603 million.
(Cash flows from investing activities)
Net cash provided by investing activities was ¥1,220 million (¥3,855 million provided in the same period of the previous
fiscal year). This was mainly attributable to proceeds from sales of investment securities of ¥3,593 million and purchase ofnon-current assets of ¥1,960 million.
(Cash flows from financing activities)
Net cash used in financing activities was ¥5,597 million (¥814 million used in the same period of the previous fiscal year).
This was mainly attributable to ¥3,983 million in repayments of long-term borrowings, ¥1,496 million in short-termborrowings, and ¥331 million in cash dividends paid.

4Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019

2. Quarterly consolidated balance sheets and important notes(1) Quarterly consolidated balance sheets

Fiscal year ended
March 31, 2019(as of March 31, 2019)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Electronically recorded monetary claims-operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets(Unit: Millions of yen)
Nine months ended
December 31, 2019(as of December 31, 2019)

28,907
6,157
1,070
750
5,130
2,229
3,247
(108)

22,652
3,309
600
880
4,926
2,343
3,513
(114)

47,385

38,113

1,676
4,488

1,644
3,289

6,165

4,933

2,715
455

2,295
701

3,170

2,997

Investments and other assets
Investment securities
Long-term loans receivable
Other
Allowance for doubtful accounts

5,785
1,738
4,893
(1,689)

1,464
407
4,807
(375)

Total investments and other assets

10,7286,302

20,064

14,23367,45052,347

8,160
5,960

3,674
4,464

Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for directors’ bonuses
Other

2,580
120
249
10
4,391

2,663
89
130
9
4,415

Total current liabilities

21,474

15,447

Non-current liabilities
Long-term borrowings
Retirement benefit liability
Asset retirement obligations
Other

6,847
628
903
2,957

3,030
656
877
2,790

Total non-current liabilities

11,337

7,355

32,81122,803

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term borrowings

Total liabilities

5Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019

(Millions of yen)
Nine months ended
December 31, 2019(as of December 31, 2019)

Fiscal year ended
March 31, 2019(as of March 31, 2019)
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

6

7,948
7,579
19,904(1,821)

7,948
7,579
15,284(1,821)

33,61028,991

598

119

0
23

0
24

622

144

404

408

34,63829,54467,45052,347

Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019(2) Quarterly consolidated statements of income and consolidated statements of comprehensive income
Quarterly consolidated statements of income
Nine months ended December 31, 2019
(Unit: Millions of yen)
Nine months ended
December 31, 2019
(April 1, 2019
–December 31, 2019)
37,16530,829Net sales
Cost of sales

Nine months ended
December 31, 2018
(April 1, 2018
–December 31, 2018)37,61527,439Gross profit

10,175

6,336

Selling, general and administrative expenses

11,437

10,449Operating loss

(1,261)(4,113)Non-operating income
Interest income
Dividend income
Purchase discounts
Distributions from investments
Other

91
152
52
92
93

16
79
138
17
76

Total non-operating income

482

328

58

46

440

61

10
25

77

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodAmortization of equity investment
Other

535

185

Ordinary loss

Total non-operating expenses(1,314)(3,970)Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Gain on sales of shares of subsidiaries and associates
Gain on liquidation of subsidiaries and associates
Gain on step acquisitions
Other

19
361
1,400
748
9

16
17
-

2,538

34

Extraordinary losses
Loss on retirement of non-current assets

Total extraordinary income

413

Impairment loss
Loss on sales of investment securities
Restructuring loss
Loss on litigation
Other

325
394
111
188

212
58
1

Total extraordinary losses

1,062

275

Profit (loss) before income taxes

161(4,212)

Income taxes

178

76

Profit (loss)(16)(4,288)Loss attributable to non-controlling interests

(2)

(40)

Loss attributable to owners of parent(14)(4,287)

7

Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019

Quarterly consolidated statement of comprehensive income
Nine months ended December 31, 2019

Loss
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income

Nine months ended
December 31, 2018
(April 1, 2018
–December 31, 2018)(16)(Millions of yen)
Nine months ended
December 31, 2019
(April 1, 2019
–December 31, 2019)(4,288)

(106)
(0)
32

(476)
0
1

(73)

(474)

Comprehensive income(90)(4,762)Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable tonon-controlling interests(91)(4,765)1

3

8

Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019(3) Quarterly consolidated statements of cash flows(Unit: Millions of yen)
Nine months ended
December 31, 2019
(April 1, 2019
– December 31, 2019)

Nine months ended
December 31, 2018
(April 1, 2018
– December 31, 2018)
Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Impairment loss
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for directors (and other officers)
Increase (decrease) in retirement benefit liability
Interest and dividend income
Share of loss (profit) of entities accounted for using equity method
Interest expenses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in merchandising rights advances
Increase (decrease) in trade payables
Loss (gain) on sales of shares of subsidiaries and associates
Amortization of equity investment
Loss (gain) on step acquisitions
Other
SubtotalInterest and dividends received
Interest paid
Income taxes (paid) refund
Net cash provided by (used in) operating activities

161
841
325
295
73
(183)
(2)
9
(244)
440
58
1,346
383
(253)
(4,416)(1,348)
694
(748)
1,642
(924)
252
(58)
349
(380)

(4,212)
1,052
419
2
(119)
(0)
30
(96)
61
46
3,525
(40)
(132)
(4,337)603
1,379(1,815)
96
(46)
(112)
(1,877)

Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Proceeds from redemption of investment securities
Purchase of investment securities
Proceeds from sales of investment securities

(671)
121
(92)
(2)
528

(1,575)
48
(385)
200
(215)
3,593

Purchase of shares of subsidiaries and associates
Proceeds from sales of shares of subsidiaries and associates
Loan advances
Collection of loans receivable
Proceeds from purchase of shares of subsidiaries
resulting in change in scope of consolidation
Other

1,800
(140)
61

(10)
1
46

2,818

-

(567)

(482)

Net cash provided by (used in) investing activities

3,855

1,220

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings

1,305(1,935)(1,496)250(3,983)

Dividends paid
Other

(168)
(16)

(331)
(35)

Net cash provided by (used in) financing activities(814)(5,597)

Effect of exchange rate change on cash and cash equivalents

0(0)

Net increase (decrease) in cash and cash equivalents

2,661(6,255)

Cash and cash equivalents at beginning of period

24,37328,807

Cash and cash equivalents at end of period

27,03422,5529

Summary of Financial Information and Consolidated Business Results for the Nine Months Ended December 31, 2019(4) Note regarding the quarterly consolidated financial statements(Note regarding the operation of the company as a going concern)
No relevant items(Note regarding occurrence of significant change in amount of shareholders’ equity)
No relevant items(Application of the accounting method specific to quarterly consolidated financial statements)
Assessment of tax expenses
The Company makes a reasonable estimate of the effective tax rate after the application of tax effect accounting on profit
before income taxes for the year ending March 31, 2020, including the nine months ended December 31, 2019, and calculates
tax expenses by multiplying profit before income taxes during the nine months ended December 31, 2019 by the estimatedeffective tax rate.

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