February 12, 2013
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TODA CORPORATION
Shunzo Inoue
President and Chief Executive Officer
1860
First Section of Tokyo Stock Exchange andFirst Section of Osaka Securities Exchange

Keiichi Ebihara
Executive Officer and General Manager,
Accounting Division
Tel.: +81-3-3535-1357

Notice Regarding Revisions to Earnings
We hereby announce revisions to the earnings for the fiscal year ending March 31, 2013, which were publicly
announced on November 12, 2012, as described below, taking into account trends of recent business performanceand other factors.

1. Revisions to Earnings Forecast
Revisions to the forecasts of the consolidated business performance for FY2012, the year ending March 31, 2013
(from April 1, 2012, to March 31, 2013)(Millions of yen unless otherwise stated)
Net income
OperatingOrdinary
Net sales
Net income
per share
incomeincome(Yen)
509,800(19,300)(18,000)(38,500)(123.66)
Previous forecast (A)Revised forecast (B)

500,700(43,000)(41,600)(63,000)

Increase/decrease (B – A)

-9,100-23,700-23,600-24,500

Rate of change (%)(Reference)
Actual results for FY2011-1.8−−−489,385(7,994)(6,690)(19,872)(202.35)(64.28)

Revisions to the forecasts of the non-consolidated business performance for FY2012, the year ending March 31,
2013 (from April 1, 2012, to March 31, 2013)(Millions of yen unless otherwise stated)
Net income
Operating
Ordinary
Net sales
Net income
per shareincome
income(Yen)
472,000(20,600)(19,300)(39,800)(127.83)
Previous forecast (A)Revised forecast (B)464,300(43,500)(42,200)(64,200)

Increase/decrease (B – A)

-7,700-22,900-22,900-24,400

Rate of change (%)(Reference)
Actual results for FY2011-1.6−−−

457,387(8,236)(7,182)(19,603)(206.20)(62.96)

Reason for the revisions(1) Non-consolidated earnings forecast
Net sales are expected to be at the same level as our previous forecast.
Operating income and ordinary income are each expected to decrease ¥22.9 billion. This is due to an estimated¥23.6 billion decrease in profit from completed construction contracts from the previous forecast as a result of furtherdeterioration in the cost environment owing to the tight labor market, etc. Also the Company expects a decrease in-1-general and administrative expenses of ¥1.2 billion from the previous forecast through efforts made to reduce
expenses, etc. to cope with the tough management environment.
As a result of the above, net income is expected to decrease ¥24.4 billion.
(2) Consolidated earnings forecast

The relevant figures of the consolidated earnings forecast have been revised due to same reasons to those for therevisions to the non-consolidated earnings forecast.
(3) Future outlook
The Company takes seriously the fact that losses are likely to increase significantly and will make utmost effort toreturn to profitability next fiscal year by strengthening emergency measures to improve profit from construction work,as per our announcement “Notice Regarding Revision of Medium-term Management Plan” as of November 12, 2012.
Regarding measures to improve the management structure of construction work upon receipt of orders, theCompany plans to newly establish a Cost Control Center on March 1, 2013, by integrating the estimation department
and purchasing department. These measures will enable competitive and appropriate price estimations.
The Company will also take further initiatives to reduce costs for the company as a whole.

(Note) The forecasts above were based on information currently available to the Company. Actual results may,therefore, differ from those described above due to various unforeseen factors.
2. Changes of Directors and Executive Officers
In view of the significant deterioration of business performance for the fiscal year, changes of Directors andExecutive Officers have been decided.
In addition, as announced on November 12, 2012, as a result of the significant deterioration of businessperformance for the fiscal year, we have reduced the monthly compensation for Directors and Executive Officers byup to 40% for a period of four months starting in December 2012.
Please refer to the “Notice Regarding Change of Representative Directors, etc.” announced today for details of thechanges.

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