Gulliver International Co., Ltd.

Consolidated Results
Third Quarter of the Fiscal Year Ending February 28, 2011
(Nine-month period ended November 30, 2010)

This document has been translated from the original Japanese as a guide for non-Japanese investors. It
contains forward-looking statements based on a number of assumptions made and beliefs held bymanagement in light of information currently available. Actual financial results may differ materiallydepending on a number of factors, including changing economic conditions and the pricing and productinitiatives of new and existing competitors.

SUMMARY OF FINANCIAL STATEMENTS (Consolidated)
Third quarter results for the fiscal year ending February 28, 2011

January 11, 2011

Gulliver International Co., Ltd.

st

Stock Code: 7599
Listed exchanges: Tokyo (1 Section)
Inquiries: Executive director: Yukihiro Yoshida
http://www.glv.co.jp/
Chairman: Kenichi Hatori
Telephone: +81 3 5208-5503
Scheduled date for the submission of the financial report: January 14, 2011
Scheduled date for distribution of dividends:－

1. Consolidated financial results for the Nine-month period ended November 30, 2010
1) Consolidated operating results

Millions of yen, rounded downNine months ended
November 30 2009

Nine months ended
November 30, 2010(% change)

Sales...............................................................
Operating income ...........................................
Ordinary income .............................................
Net income......................................................
Earnings per share (¥) ....................................
Fully diluted earnings per share (¥) ................

108,666
6,008
5,857
5,175
¥561.97¥561.70(% change)(6.6)(13.3)(11.9)
71.4---

116,309
6,927
6,650
3,019
¥331.94---------

Note: Percentage figures for sales, operating income, etc. represent changes compared to the comparable period of the previous fiscal year.

2) Financial position (Consolidated)

Millions of yen, rounded down

As of November 30, 2010
Total assets .....................................................
Net assets........................................................
Shareholders’ equity ratio (%)..........................
Shareholders’ equity per share (¥)...................
Shareholders’ equity:

As of February 28, 2010

58,71624,92542.4%¥2,458.36

67,94816,39324.1%¥1,794.18

As of November 30, 2010: ¥24,919 million
As of February 28, 2010: ¥16,393 million

2. Dividends

Interim dividend per share (¥) ..........................
Year-end dividend per share (¥) ......................
Annual dividend per share (¥)..........................

Millions of yen, rounded down

Fiscal year ended
February 28, 2010
38.00
38.00
76.00

Fiscal year ending
February 28, 2011
31.00
--

Fiscal year ending
February 28, 2011 (Forecast)-31.0062.00

Changes to the dividend forecast during the period: None

3. Consolidated financial forecasts for the fiscal year ending February 28, 2011(March 1, 2010 to February 28, 2011)
Millions of yen, rounded down

FY ending
February 28, 2011
137,000
(8.0)
6,000
13.6
5,900
17.8
4,700
-¥514.40--

Sales................................................................
Operating income ............................................
Ordinary income ..............................................
Net Income ......................................................
Earnings per share (¥) .....................................

Notes: Percentage figures for sales, operating income, etc. represent changes compared to the comparable period of the previous fiscal year.
Changes to the consolidated financial forecast during the period: None

－ 1 －

4. Other
1) Transfer of important subsidiaries during the period :No
2) Utilization of simplified method of accounting: Yes
3) Changes in accounting methods, procedures and presentation in the making of these financial statements (key items
mentioned in Significant Items for the Preparation of Consolidated Financial Statements):
1. Changes following revisions to accounting standards: No
2. Other changes: Yes
4) Number of shares outstanding (ordinary shares)
1. Number of shares outstanding (including treasury shares):
As of November 30, 2010: 10,688,800
As of February 28, 2010: 10,688,800
2. Number of treasury shares:
As of November 30, 2010: 551,955
As of February 28, 2010: 1,551,926
3. Average number of shares during the period:
Nine months ended November 30, 2010: 9,209,589
Nine months ended November 30, 2009: 9,097,067
Notice regarding the appropriate use of the financial forecasts and other items
Forecasts and forward-looking statements in this document are based on a number of assumptions made and beliefs held bymanagement in light of information currently available. Actual financial results may differ materially depending on a number offactors, including economic conditions, legislative and regulatory developments, delay in new product or service launches, andpricing and product initiatives of competitors.

－ 2 －1. Operating results(1) Outline of consolidated operating results
Net sales for the first nine months of the consolidated fiscal year ending February 28, 2011 decreased 6.6%
compared to the same period of the previous fiscal year. This was primarily the result of the reduction of Gulliver’s
financing business (due to other credit companies handling the majority of auto loans for used cars, initiated by Gulliverat the retail point of sale, since May 2010, and the removal of G-One Credit Services Co., Ltd. following the transfer of
all outstanding shares), and a decline in cars traded at consolidated subsidiary G-Trading Co., Ltd.
Further, the gross profit margin declined in comparison to the previous fiscal year as a result of a decrease in highly
profitable retail sales to regular consumers due to the effects of the eco-car subsidy system.
Sales, general and administrative expenses decreased compared to the interim period of the previous fiscal year
due to streamlining of advertising expenses. An extraordinary gain of ¥1,157 million was recorded due to the profit
generated from the transfer of G-One Credit Services Co., Ltd. shares.
Meanwhile, extraordinary losses of ¥1,739 million were recorded. Primary factors included expenses of ¥451 million
recorded for provision for loses at affiliates arising from the reduction of G-Rental Co., Ltd. business (construction
machinery rentals), a subsidiary of consolidated subsidiary G-Trading Co., Ltd., and ¥1,024 million in losses on
business reorganization, including an ¥881 million expense following the withdrawal from a construction machinery
business in Russia run by G-Trading Rus. LLC, a subsidiary of G-Trading Co., Ltd.
Corporate tax was reduced, mainly due to the following reasons. Upon the transfer of all outstanding shares of
G-One Credit Services Co., Ltd., to SBI Holdings, Inc., losses recorded in previous fiscal years were for tax purposes
offset by the extraordinary gain that occurred in the current period, while losses carried forward with respect to G-One
Financial Services Co., Ltd., were included in taxable income for the current period. Furthermore, in August 2010,
Gulliver International sold all outstanding shares of G-Trading Co., Ltd. to G-One Credit Services Co., Ltd. As a resultof this transaction, the provisions recorded in previous fiscal years in respect of G-Trading Co., Ltd., were recognized
as losses for tax purposes.
As a result of the factors noted above, and compared to the nine-month period of the previous fiscal year,
consolidated net sales decreased 6.6% to ¥108,666 million, operating income decreased by 13.3% to ¥6,008 million,
ordinary income decreased 11.9% to ¥5,857 million, while net income for the period was ¥5,175 million, up 71.4%.

Performance by segment
i. Sales of used automobiles
Net sales of used automobiles declined due to a decrease in the number of cars traded at consolidated subsidiary
G-Trading Co., Ltd. Other factors leading to a decrease in sales included a decline of retail sales to regular consumers,
which are highly profitable, due to effects of the eco-car subsidy system.
Among the stores involved in the sale and purchase of cars, as of November 30, 286 were directly managed Gulliver
stores (1 more than at the end of the same period of the previous fiscal year and 2 less from the end of the previous
fiscal year).
As a result of the above factors, consolidated net sales for the segment were ¥101,194 million, ¥6,135 million (5.7%)
lower than in the third quarter of the previous fiscal year, and operating income decreased ¥1,850 million (23.4%), to¥6,073 million.
－ 3 －ii. Financing businessNet sales from the financing business declined due to other credit companies handling the majority of auto loans forused cars, initiated by Gulliver at the retail point of sale, since May 2010, and the transfer of all outstanding shares in
G-One Credit Services Co., Ltd.

The transfer of all outstanding shares in G-One Credit Services Co., Ltd. resulted in a reduction in selling expenses
and general administrative expenses, while revenues from auto loans signed in previous fiscal years were recorded in
the period under review, resulting in an increase in operating income.

Further, in line with the reduction in the number of loans, and the transfer of all outstanding shares in G-One Credit
Services Co., Ltd., accounts receivable for the financing business decreased 47.1%, or ¥12,369 million, to ¥13,901
million compared to the end of the previous fiscal year.

Due to the above factors, consolidated net sales for the segment decreased 34.2%, or ¥2,099 million compared tothe third quarter of the previous fiscal year to ¥4,039 million, while operating income increased 66.0%, or ¥499 million,to ¥1,256 million.

iii. Other businesses
As of November 30, 2010, the number of Gulliver franchised stores was 133 (6 more than at the end of the same
period of the previous fiscal year, and 3 more than at the end of the previous fiscal year).
Operating income and revenues from consolidated subsidiary Hucobo Co., Ltd., a transport company, also
decreased due to a decrease in the number of car orders and other factors.
As a result, consolidated net sales from Gulliver franchised stores decreased 6.6%, or ¥489 million to ¥6,887 million,
and operating income decreased 11.0%, or ¥182 million, to ¥1,476 million.
(2) Financial position
Consolidated financial position and related analysis
Assets, liabilities and shareholders’ equity
Note: Comparisons represent changes compared to the end of the previous fiscal year.
AssetsTotal assets at the end of the period under review decreased 13.6% to ¥58,716 million.
Current assets decreased 31.8% to ¥34,223 million mainly due to a decrease in accounts receivable and inventories
held for the purpose of sales.
Fixed assets increased 37.8% to ¥24,493 million as a result of an increase of long-term loans receivable, due to thesimultaneous execution of loans along with the transfer of all outstanding shares in G-One Credit Services Co., Ltd.

Liabilities
Total liabilities at the end of the period under review decreased 34.5% to ¥33,791 million.
Current liabilities decreased 57.2% to ¥17,779 million due to the repayment of short-term borrowings and other factors.
Long-term liabilities increased 60.6% to ¥16,012 million due an increase in long-term lending and other factors.

－ 4 －Net assets
Total net assets at the end of the period under review increased 52.0% to ¥24,925 million due to an increase inretained profit following the recording of net income for the period. The equity ratio increased 18.3% to 42.4%.
Outlook for the fiscal year ending February 28, 2011
There have been no changes made to the full-year consolidated results forecasts as announced in the Consolidated
Results, Second Quarter of the Fiscal Year Ending February 28, 2011 that was issued on October 8, 2010.
2. Other(1) Transfer of important subsidiaries
Consolidated subsidiary G-One Credit Services Co., Ltd., has been removed from the scope of consolidation due tothe transfer of all outstanding shares. Further, because the date of sale of all shares was June 1, 2010, the company isincluded in the consolidated statements of income and the consolidated statements of cash flow for the period between
March 1 and May 31, 2010.
(2) Simple accounting procedures and specific accounting procedures(1) Simple accounting methods
・Calculation methods for estimating loss on ordinary loans
Since there have been no significant change to the loan loss ratio and others calculated at the end of the previous consolidated
fiscal year, these figures were used for the basis of calculations for the estimated loan loss and others at the end of the period
under review.
・Calculation methods for depreciation allowance of fixed assets
For assets to which the declining balance method is applied, depreciation allowance is calculated by the amount distributed
proportionally for that consolidated fiscal year.
・Evaluation of inventory assets
Calculations for inventory assets at the end of the interim period are based on a combination of a reduction of actual inventories
and the actual inventory at the end of the previous consolidated fiscal year. Regarding the reduction in the book value of inventory
assets, in respect of only those items where the decline in profitability is clear, we have estimated the net sale price and reduced
the book value accordingly.
・Calculation methods for corporate and other taxes and deferred tax assets and liabilities
The calculation for corporate and other tax payments is limited to important increases or decreases and tax credit items. In cases
where there have been significant change in the operating environment, etc., since the end of the previous consolidated fiscal
year or other significant temporary changes, the results forecasts and tax planning used at the end of the previous consolidated
fiscal year, including adjustments for the said significant changes, are used as the calculation method for evaluating the possibilityof recovering deferred tax assets.
・Mutual debt and loans and elimination transactions among consolidated subsidiaries
In cases where the differences in amounts of the aforementioned credit and liabilities are clear, when the differences are within areasonable scope, the amounts are not adjusted and the credit and liabilities are eliminated. When there are immaterial
differences in transaction amounts, eliminations are made using methods such as matching the amount to that of the parent
company.

－ 5 －(2) Utilization of special accounting methods
No applicable items(3) Accounting principles, procedures and presentation
Accounting methods for auto loan revenues
Previously, accounting methods used by consolidated subsidiary G-One Financial Services Co., Ltd., a financial services
company, and consolidated subsidiary G-One Credit Services Co., Ltd., recorded revenues such as interest from unexpired periods
during the contractual period. With regards to other parts of the contract, unobtainable income from full repayment before maturity or
payment in subrogation were excluded and revenues from auto loan contracts were recorded as a lump sum. However, as of thecurrent consolidated fiscal year, we have changed our accounting methods to record revenue based on the contract period and will
no longer recognize such revenue as a lump-sum amount, and the respective expenses represented by commission payments are
now also recorded based on the contract period.

In line with the above change, operating loans have been transferred to a trust subsidiary and trust beneficiary rights and sharesissued and have been sold as collateralized assets. However, when these securitized assets are sold, the part of the assets thatwere sold at book value and the parts that we continue to hold are each valued at fair value and the accounting methods used havebeen changed to recognize the difference between the gains/losses on securitization and the book value allotted to assets sold.

As a result, accounting methods differ for the previous and current consolidated first quarter and interim periods. If the method
currently used had been used in the second quarter period of the previous fiscal year, net sales and gross profit would each havebeen recorded as ¥302 million higher, and operating income, ordinary income, and net income before taxes would each have beenrecorded as ¥289 million higher. While if the method currently used had been used in the interim period of the previous fiscal year
net sales and gross profit would each have been ¥808 million higher, and operating income, ordinary income, and net income before
taxes would have been ¥773 million higher.

(4) Important events relating to the premise of a going concern
No applicable items－ 6 －Consolidated Balance Sheets
Millions of yen
As ofNovember 30, 2010

As ofFebruary 28, 2010

AssetsCurrent assets
Cash and deposits.................................

9,713

Trade notes and accounts receivable ....

16,1403,613
30,287

Products ................................................

4,716

10,351

Operating loans .....................................

1,442

2,045

Deferred tax assets................................

1,296

942

Other......................................................

1,580

4,340

Allowance for doubtful accounts ...........

(666)(1,400)Total current assets............................

34,22350,17910,343

Depreciation .......................................

10,443(3,624)

Buildings and structures (net) .............

6,818

6,986

Vehicles and transportation ...................
Depreciation........................................

579

336

(254)

(58)

Fixed assets
Tangible fixed assets
Buildings and structures .......................

(3,356)

Vehicles and transportation (net)........

325

278

Tools, fixtures and equipment...............
Depreciation .......................................

2,454

2,686

(1,872)(1,722)Tools, fixtures and equipment (net) ....

581

964

Land......................................................
Construction in progress ........................

218

218

49

270

Total tangible fixed assets .................
Intangible fixed assets

7,993

8,717

Goodwill ................................................

32

48

Software ...............................................

945

1,532

Other.....................................................

17

18

Total intangible fixed assets ...............

995

1,599

Investments and other assets
Investment securities .............................

14

14

Shares in affiliate companies .................

811

859

Long-term loans receivable ...................

9,140

328

Deposits and guarantee money .............

2,922

3,055

Construction cooperation fund ...............

2,871

2,955

Deferred tax assets................................

122

367

Others.....................................................

382

525

Allowance for doubtful accounts ............

(760)

(654)

Total investments and other assets......

15,504

7,452

Total fixed assets ...............................

24,493

17,769Total Assets ............................................

58,716

67,948－ 7 －Consolidated Balance Sheets
Millions of yen
As ofNovember 30, 2010

As ofFebruary 28, 2010

2,248
6,546
2,314
272
230
83
1,239

4,230
26,159
3,032
1,528
249
570
797

124

--

4,718
17,7795,020
41,587

14,250
824

8,516
877

Reserve for directors’ retirement
benefit......................................................

437

405

Negative goodwill ....................................

--

101

Reserve for loss on restructuring ofaffiliated company....................................

492

57

7
16,012
33,791

9
9,967
51,555

4,157
4,032
20,118(3,975)24,332

4,157
4,032
18,798(11,178)
15,810587

583

Liabilities
Current liabilities
Accounts payable ....................................
Short-term borrowing...............................
Accrued expenses ...................................
Accrued corporate taxes..........................
Deposits received ....................................
Reserve for bonuses ...............................
Reserve for product warranty ................
Reserve for loss on businessliquidation ................................................
Others......................................................
Total current liabilities............................
Long-term liabilities
Long-term borrowing ...............................
Long-term guarantee deposits received ..

Other .......................................................
Total long-term liabilities........................
Total liabilities........................................
Net assets
Shareholders’ equity
Paid-in capital ..........................................
Capital surplus.........................................
Retained profit .........................................
Treasury stock .........................................
Total shareholders’ equity...................
Valuation difference on othermarketable securities
Translation adjustments...........................
Total appraisal and translationdifferences ..........................................
Share warrant.........................................
Total net assets ..................................

587

583

5
24,925-16,393

Total liabilities and net assets.........

58,716

67,948－ 8 －Consolidated Statements of Income
Millions of yen

March 1, 2010 toMarch 1, 2009 toNovember 30, 2010

November 30, 2009

Sales ...................................................................................
Cost of sales........................................................................
Gross profit......................................................................
Sales general and administrative expenses ........................

108,666
81,09827,568116,30983,55832,751

21,55925,824

Operating income ...........................................................
Non-operating income
Interest received...................................................................
Commissions received .........................................................
Amortization of negative goodwill .........................................
Other ....................................................................................
Total non-operating income ............................................
Non-operating expenses
Interest paid.........................................................................
Exchange related loss .........................................................
Other ...................................................................................
Total non-operating expenses........................................
Ordinary income......................................................................
Extraordinary profit
Gains from cancellation in the previous term ......................
Gain on sales of investment securities ..............................
Reversal of allowance for doubtful accounts ........................
Gain on sales of Stocks of affiliated companies ...................
Others ..................................................................................
Total extraordinary profit .................................................
Extraordinary losses
Loss from cancellation in the previous term .........................
Loss on disposal of fixed assets...........................................
Provision for loss on business of subsidiaries and affiliates .
Loss from restructuring of operations ...................................
Others ...................................................................................
Total extraordinary loss ...................................................
Net income before taxes, etc ..................................................
Income tax, inhabitants tax and enterprise tax .......................
Corporate tax adjustment .....................................................
Total corporate taxes............................................................
Gain from minority interests..................................................
Net income .......................................................................

6,008

6,927

76
10
9
22
119

6
8
28
84
126

129
94
46
270
5,857

104
266
32
403
6,650

--20
1,157
49

73
66
18
-41

1,227

200

-231
451
1,024
31
1,739
5,344
236
(67)
169
--

381
660
-72
78
1,192
5,658
2,975
(340)
2,635
3

5,175

3,019

－ 9 －

Consolidated Statements of Income
Millions of yen

September 1, 2010 to

September 1, 2009 toNovember 30, 2010

November 30, 2009

Sales ...................................................................................
Cost of sales........................................................................
Gross profit .....................................................................
Sales general and administrative expenses ........................

35,797
26,443
9,353

40,50530,127
10,377

7,045

8,710

Operating income ...........................................................
Non-operating income
Interest received...................................................................
Commissions received .........................................................
Amortization of negative goodwill .........................................
Other ....................................................................................
Total non-operating income..................................................
Non-operating expenses
Interest paid ........................................................................
Exchange related loss .........................................................
Other ...................................................................................
Total non-operating expenses........................................
Ordinary income .....................................................................
Extraordinary profit
Gains from cancellation in the previous term ......................
Gain on sales of investment securities .................................
Reversal of allowance for doubtful accounts ........................
Gain on sales of Stocks of affiliated companies ...................
Others ..................................................................................

2,308

1,667

35
1
-3
41

1
1
9
18
31

49
32
1
83
2,265

30
29
12
71
1,627

--20
-22

39
44
3
--

Total extraordinary profit ................................................
Extraordinary losses
Loss from cancellation in the previous term .........................
Loss on disposal of fixed assets ..........................................
Provision of allowance for bad debts....................................

43

15
102

-64
(57)

46
188
--

Provision for loss on business of subsidiaries and affiliates.

(40)

--

Loss from restructuring of operations....................................
Others ...................................................................................
Total extraordinary loss........................................................
Net income before taxes, etc ..................................................
Income tax, inhabitants tax and enterprise tax .......................
Corporate tax adjustment ......................................................
Total corporate taxes............................................................
Gain from minority interests .................................................
Net income ........................................................................

(8)
7
(35)
2,344
154
753
907
--

6
28
269
1,459
855
(145)
710
0

1,436

748

－ 10 －

Consolidated Statements of Cash flows
March 1, 2010 toMillions of yen
March 1, 2009 toNovember 30, 2010

November 30, 2009

I. Cash flow from operating activities
Income before taxes, etc. ............................................................................
Depreciation ................................................................................................
Amortization of goodwill ..............................................................................
Amortization of negative goodwill................................................................
Increase (decrease) in allowance for doubtful accounts .............................
Increase (decrease) in reserve for bonuses................................................
Increase (decrease) in reserve for directors’ retirement benefit..................
Increase (decrease) in reserve for product warranty...................................
Interest and dividends received...................................................................
Interest paid.................................................................................................
Gain (loss) on foreign exchange .................................................................
Loss on disposal of fixed assets..................................................................
Loss (gain) on sales of stocks of subsidiaries and affiliates........................
Loss on liquidation of business ...................................................................
(Increase) decrease in accounts receivable................................................
(Increase) decrease in inventory assets......................................................
(Increase) decrease in operating loans .......................................................
Increase (decrease) in accrued consumption tax........................................
Increase (decrease) in accounts payable....................................................
Increase (decrease) in accrued expenses ..................................................
Other ...........................................................................................................
Subtotal .......................................................................................................
Interest and dividends received...................................................................
Interest paid.................................................................................................
Corporate taxes paid ...................................................................................
Cash flow from operating activities..............................................................

5,344
906
15
(9)
(209)
(451)
31
502
(76)
129
65
231
(1,157)
423
4,227
5,648
603
283
(1,724)882(489)
15,17877(129)(1,213)
13,912

5,658
1,264
20
(28)
162
(472)
29
139
(6)
104
266
660

--(10,130)
(346)
127
120
254
792
1,433
48
5
(99)
(1,669)(1,713)

II. Cash flow from investing activities
Payments for acquisition of tangible fixed assets........................................
Payments for acquisition of intangible fixed assets.....................................
Purchase of investment securities...............................................................
Proceeds from sales of investment securities .............................................
Purchase of investments in subsidiaries resulting in change in scope of
consolidation ...................................................................................
Payments of loans receivable .....................................................................
Collection of loans receivable......................................................................
Payments for deposits and guarantee.........................................................
Proceeds from repayment of deposits and guarantee ................................
Payments for construction cooperation fund ...............................................
Proceeds from repayment of construction cooperation fund.......................
Other ...........................................................................................................
Cash flow from investing activities...............................................................

(934)
(366)

---

(537)
(726)
(14)
167

(109)

--

(949)
4,942
(64)
56
(95)
168
13
2,661

--(63)
138
(179)
159
16
(1,039)III. Cash flow from financing activities(24,499)
11,000
(379)
4,038
(617)
(0)
(10,458)383
5,000(3,929)

(15)

0

6,099
3,586

(1,630)4,215

subsidiaries from consolidation......................................................................

--

VIII. Cash and cash equivalents at end of period ..........................................

9,686

(761)
1,823

Net increase (decrease) in short term borrowings ......................................
Proceeds from long-term loans ...................................................................
Repayment of long-term loans ....................................................................
Proceeds from sales of treasury stock ........................................................
Cash dividends paid ....................................................................................
Other ..........................................................................................................
Cash flow from financing activities...............................................................
IV. Cash and cash equivalents currency translationdifferences ..............................................................................................
V. (Decrease) increase in cash and cash equivalents ...................................

－ 11 －
VI. Cash and cash equivalents at beginning of period...................................

-(332)
01,121VII. Decrease in cash and cash equivalents resulting from exclusion of

4. Assumptions related to going concern
No applicable items

5. Segment Information
Segment information by business type
Third quarter of the fiscal year ended February 28, 2010 (March 1, 2009 to November 30, 2009)

Sales(1) Sales to externalcustomers(2) Inter-segmental sales
or transfers
Total
Operating income

Used car saleFinancialbusiness

Otherbusinesses

105,948

5,034

5,325

1,380
107,329
7,924

1,104
6,139
757

2,050
7,376
1,658

Millions of yen

Elimination/
All company

Consolidated

116,309--

116,309

4,535
120,845
10,340(4,535)(4,535)(3,412)-116,309
6,927

Total

Third quarter of the fiscal year ending February 28, 2011 (March 1, 2010 to November 30, 2010)
Used car saleFinancialbusiness

Otherbusinesses

100,585

3,079

5,000

608
101,194
6,073

959
4,039
1,256

1,886
6,887
1,476

Millions of yen

Elimination/
All company

Consolidated

108,666--

108,666

3,454
112,120
8,807(3,454)(3,454)(2,798)-108,666
6,008

Total

Sales
(1) Sales to externalcustomers(2) Inter-segmental sales
or transfers
Total
Operating income
Notes:
1. Method of business classification: Businesses have been classified according to the classification used in calculating sales.
2. Names of principal products or services attributable to each business classification:
Business Classification
Used car sales
Financing business

Principal Product Name or Service Name
Purchase and sales of used automobiles such as through directly operated storesConsolidated subsidiary G-One Financial Services Co., Ltd. provides auto loans and other financing
services.

Other businesses

Provision of services for franchises involved in the management of Gulliver, for the sale and purchaseof cars, and stores established with graphic sales systems.

Segment information by geographical location
For the Third quarter of the current consolidated fiscal year over 90% of sales were from Japan and therefore segment information
by geographical location has been omitted.

Overseas sales
For the Third quarter of the current consolidated fiscal year overseas sales were less than 10% of consolidated sales and havetherefore been omitted.

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