Translation
Notice:This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Nine Months Ended September 30, 2013
(Based on Japanese GAAP)
November 12, 2013
Company name
Aoyama Zaisan Networks Co., Ltd.
Stock exchange listing Tokyo
Stock Code
Representative

8929
President

URL

http://www.azn.co.jp/
Masazumi Hasumi

Inquiries
Director, Administration Division
Scheduled date to file Quarterly Securities Report

Yoshikazu Mizushima
November 12, 2013

Scheduled date to commence dividend payments
Preparation of supplementary material on quarterly earnings

noHolding of quarterly earnings performance review

noTEL03-6439-5800-(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended September 30, 2013 (from January 1, 2013 to September 30, 2013)(1) Consolidated operating results (cumulative)

Percentages indicate year-on-year changes
Net sales

Nine months ended September 30, 2013
Nine months ended September 30, 2012

Millions of yen
3,557
4,815

Operating income% Millions of yen(26.1)
100
6.1(96)

Net income per share

Ordinary income% Millions of yen
89(99)% Millions of yen
159
(92)

%-Diluted net income per shareYen
1,509.46(878.43)

Nine months ended September 30, 2013
Nine months ended September 30, 2012

Net income

Yen-(2) Consolidated financial position
Total assets

Net assets

Millions of yen
5,262
4,769

As of September 30, 2013
As of December 31, 2012

Equity ratio

Millions of yen
1,826
1,941

Net assets per share%
30.7
26.5

Yen
15,266.19
11,947.42

2. Cash dividends
Annual dividends

Year ended December 31, 2012
Year ending December 31, 2013

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen-

Yen
0.00
0.00

Yen-

Yen
750.00Yen
750.00750.00750.00Year ending December 31, 2013 (Forecast)Total

3. Forecast for the year ending December 31, 2013 (from January 1, 2013 to December 31, 2013)

Net sales

Full year

Millions of yen
6,190

Percentages indicate year-on-year changes
Net income
Operating income
Ordinary income
Net income
per share% Millions of yen% Millions of yen% Millions of yen%Yen
6.0
140
42.1
140
52.6
130
41.2
1,229.84

1

4. Notes(1) Changes in significant subsidiaries during the nine months ended September 30, 2013(changes in specified subsidiaries resulting in the change in scope of consolidation):

yes(2) Application of special accounting for preparing quarterly consolidated financial statements:

no(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements after error corrections
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:nono

Changes in accounting estimates:
Restatement of prior period financial statements after error corrections:nono(4) Number of issued shares
Total number of issued shares at the end of the period (including treasury stock)
As of September 30, 2013

105,705 shares As of December 31, 2012

105,705 shares

Number of shares of treasury stock at the end of the period
As of September 30, 2013

- shares As of December 31, 2012

- sharesAverage number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended September 30, 2013

105,705 shares Nine months ended September 30, 2012

2105,705 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of December 31, 2012

As of September 30, 2013

AssetsCurrent assets
Cash and deposits
Accounts receivable-trade746,749
247,1612,479,529
220,455

Real estate for sale
Other inventories

90,284
16,111

997,913
10,552

Other
Allowance for doubtful accounts

77,396(22,829)

112,874(12,366)

1,154,874

3,808,958

855,606
1,012,806

58,394
1,406

54,281

36,821

Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment

1,922,693

96,622Intangible assets
Software30,22832,051

Goodwill
Other

122,755
2,980

211,959
3,313

Total intangible assets

155,963

247,324

Investments and other assets
Investment securities

1,395,623

933,575

Stocks of subsidiaries and affiliates
Other

3,260
136,906

176,380

Total investments and other assets

1,535,790

1,109,956

Total noncurrent assets

3,614,447

1,453,903

Total assets

4,769,322

5,262,861

3

(Thousands of yen)
As of December 31, 2012

As of September 30, 2013

Liabilities
Current liabilities
Accounts payable-trade
Short-term loans payable

67,078600,000

30,769950,000

Current portion of long-term loans payable
Current portion of bonds

58,70392,500256,800
60,000

Income taxes payable
Provision for bonuses

8,766-4,34147,007

24,577297,237

12,346350,420

1,148,862

1,711,685

Other provision
OtherTotal current liabilities
Noncurrent liabilities
Bonds payable-210,000

Long-term loans payable
Long-term deposits received

754,851
60,539726,000
21,236

Provision for retirement benefits
Long-term lease and guarantee deposited

50,590812,753

64,929694,879

Other

-

7,828

Total noncurrent liabilities

1,678,735

1,724,873

Total liabilities

2,827,597

3,436,559

1,030,817
334,224

1,030,817
334,224

Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings

258,446

330,489

Total shareholders' equity1,623,487

1,695,530

Accumulated other comprehensive income
Valuation difference on available-for-sale securities(360,586)(80,652)

Foreign currency translation adjustment
Total accumulated other comprehensive income
Subscription rights to shares-(1,164)(360,586)(81,817)-

3,466

Minority interests

678,822

209,123

Total net assets

1,941,724

1,826,302

Total liabilities and net assets

4,769,322

5,262,861

4

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)
Nine months ended
September 30, 2012

Nine months ended
September 30, 2013

Operating revenue
Operating revenue

2,207,483

2,240,523

Real estate sales

2,607,545

1,317,179

Total operating revenue

4,815,029

3,557,703

Cost for Sales
Cost of sales-real estate

1,545,947
2,499,531

1,444,985
1,253,742

Total operating cost

4,045,479

2,698,727

Operating gross profit

769,549

858,975

Selling, general and administrative expenses

866,342758,368

Operating income (loss)(96,792)

100,607

Interest incomeDividends income

224
8,702

232
12,874

Insurance premiums refunded cancellation
Other

2,914
2,998

3,153

Total non-operating income

14,83816,259Non-operating expenses
Interest expenses

14,062

18,152

Bond issuance cost
Other

3,436

6,287
3,398

Total non-operating expenses

17,49827,838

Ordinary income (loss)(99,452)

89,027

1,214
203

71,279-Operating cost

Non-operating income

Extraordinary income
Gain on sales of noncurrent assets
Gain on sales of investment securities
Gain on step acquisitions-31,060

1,417

102,339

Loss on sales of investment securities
Loss on valuation of investment securities

347
-

239
11,249Total extraordinary losses

347

11,489(98,383)

179,877

Total extraordinary income
Extraordinary loss

Income (loss) before dividends distribution from silent partnership,income taxes
Dividends distribution from silent partnership(1,053)

2,373

Income (loss) before income taxes and minority interests(97,329)

177,503

Income taxes-current(4,475)

4,900

Total income taxes(4,475)

4,900

Income (loss) before minority interests(92,854)

172,603-

13,046(92,854)

159,557

Minority interests in income
Net income (loss)

5

Consolidated statements of comprehensive income (cumulative)(Thousands of yen)
Nine months ended
September 30, 2012

Nine months ended
September 30, 2013

Income (loss) before minority interests
Other comprehensive income(92,854)

172,603

Valuation difference on available-for-sale securities
Foreign currency translation adjustment(55,946)-

279,933(1,164)

Total other comprehensive income(55,946)

278,768

Comprehensive income(148,801)

451,371(148,801)-

438,325
13,046Comprehensive income attributable toComprehensive income attributable to owners of the parent
Comprehensive income attributable to minority interests6