August 10, 2010
Stock Exchange Listing Tokyo
Name of listed company: ISEKI & CO., LTD.
6310
Company Code:(URL http://www.iseki.co.jp) Head Office:Tokyo
Representative: Title President
Name Seiichiro Gamo
Title General Manager of FinanceName Hiroshi Yunoki
Enquiries:
Telephone: +81 3 5604 7671
August 10, 2010
Date of Submission of Quarterly Report
Scheduled Date to Commence Dividend Payment
Yes
Preparation of supplementary information for quarterly financial information
Holding of quarterly financial results briefing
Yes

Summary Announcement of Consolidated Financial Results
for the Three Months Ended June 30, 2010
I. Financial Results for the Three Months Ended June 30, 2010 (April 1, 2010  June 30, 2010)
A. Results of operations(Rounded down to millions of yen, % indicates changes from the previous period)

Three Months Ended
June 30, 2010
Net Sales
Operating Income
Ordinary Income
Net Income
Net Income per Share (yen)Non-diluted
Fully Diluted%

33,248
1,311
1,022
839

Three Months Ended
June 30, 2009

12.9
250.1
162.8
111.2

29,461
374
388
397

3.65
-

%
(8.9)
-

1.76
1.73

B. Financial Position(Rounded down to millions of yen)

June 30, 2010

March 31, 2010

Total Assets
174,103
Net Assets
56,365
Shareholders’ Equity to Total Assets Ratio
31.5%
Net Assets per Share (yen)238.84
Notes: Shareholders’ equity:
First Quarter of FY Mar. 2011 ¥54,886 mil. FY ended March , 2010 ¥54,109mil.
II. Dividends

171,044
55,60431.6%
235.46

Dividend per share (Yen)(Recorded date)
FY ended March 2010
FY ending March 2011

End of 1Q-

End of 2Q-

End of 3Q-

Year-end
0.00

Annual
0.00

-

-

-

-

FY ending March 2011 (forecast)

Note Revision of dividend forecast during the first quarter of FY ending March 2011: None
As we have yet to determine the specific expected dividend amount, forecasts for the fiscal year-end andfull year are indicated with a dash.

1III. Forecast for the Fiscal Year Ending March 31, 2011 (April 1, 2010  March 31, 2011)(Rounded down to millions of yen, % indicates changes from the previous same period)

Net Sales%

Operating
IncomeOrdinary
Income%%Net
Income%Net Income pershare (yen)2Q(Cumulative)

75,0007.6

2,200(13.0)

1,800(18.1)

700(56.2)

3.05

Annual151,000

1.1

3,500

(22.5)

2,600(28.9)

1,100(53.1)

4.79(Note) Revision of performance forecast during the first quarter of FY ending March 2011: None
IV. Others (Please refer to page 5 of the attached document [ 2. Other Information ] for detail
A. Change in important subsidiaries during the period: None.
(Note) Existence or nonexistence of change in specified subsidiaries which accompanies a change in the range ofconsolidation.
Increase: Decrease: B. Adoption of simplified accounting method and unique accounting method : Yes(Note) Existence or nonexistence of adoption of simplified method in accounting method and unique accounting
method for quarterly financial statements.
C. Change in principle, procedure and method of statement of accounting procedures
1) Change which accompanies revision of accounting standards: Yes
2) Change other than No.1.
:None(Note) Existence or nonexistence of change in principle, procedure and method of statement of accounting
procedures for preparation of quarterly financial statements as stated in “Changes in Important Basic
Items for Preparing Quarterly Financial Statements”.
D. Outstanding shares (common shares)
1) Outstanding shares as of the end of the period (Including treasury shares)
First quarter of FY ending March 31, 2011229,849,936 shares
FY ended March 31, 2010
229,849,936 shares
2) Outstanding treasury shares as of the end of the period
First quarter of FY ending March 31, 2011
45,678 shares
FY ended March 31, 2010
44,223 shares
3) Average number of shares during the period (Quarterly consolidated cumulative period)First quarter of FY ending March 31, 2011229,804,995 sharesFirst quarter of FY ended March 31, 2010
225,743,497 shares* Statement regarding state of implementation of quarterly review procedure
While these quarterly financial results are exempted from the requirement of quarterly review procedure under
the Financial Instruments and Exchange Act, we have completed the review procedure of the quarterly financial
statements.
* Statement regarding proper use of financial performance forecasts and other notes.
The forecast for operating results has been produced based on information presently available and certain
assumptions deemed reasonable. It is possible that in the future actual results may differ from the anticipatedfigures for a variety of reasons. For assumed conditions of the business performance forecast and adequate use of
the forecast, please refer to page 5 of the attached document, [Qualitative Information regarding quarterly
consolidated financial results, etc], [3. Qualitative information regarding performance forecast]/

2

Content of the attached document
1. Qualitative Information regarding quarterly consolidated financial results, etc ························ 5(1) Qualitative information concerning the status of consolidated financial results ················ 5(2) Qualitative information concerning the shifts in consolidated financial position ·············· 6(3) Qualitative information regarding performance forecast··················································· 6
2. Other Information ···················································································································· 6(1) Changes in important subsidiaries ·················································································· 6(2) Simplified accounting method and unique accounting method ······································· 7(3) Change in principle, procedure and method of statement of accounting procedures ······· 7
3. Quarterly Financial Statements ································································································ 8(1) Quarterly consolidated balance sheet················································································ 8(2) Consolidated Quarterly Statement of Income ································································· 10(3) Consolidated Quarterly Statement of Cash Flows··························································· 11(4) Notes on Going Concern Premises ················································································· 12(5) Segment Information······································································································ 12(6) Significant Changes in Shareholders’ Equity ·································································· 1231. Qualitative Information regarding quarterly consolidated financial results, etc(1) Qualitative information concerning the status of consolidated financial results
During the first quarter consolidated cumulative period under review, an overall deflationary trend persisted in
the Japanese economy and consumer spending remained inactive, in spite of the partial recovery observed incorporate performance and capital investment. The Agricultural machinery market to which we belong continued ina similar situation, failing to see any major recovery. Under the economic environment, ISEKI Group accomplishedconsolidated financial results as set out below.
In the first quarter consolidated cumulative period, sales increased ¥3.787 billion from the same period of theprevious year, to ¥33.248 billion (up 12.9%). Domestic sales increased ¥3.234 billion to ¥29.190 billion (up 12.5%).
Overseas sales increased ¥0.553 billion to ¥4.058 billion (up 15.8%). Operating income increased ¥0.936 billion to¥1.311 billion (up 250.1%), mainly due to increased gross income from increased revenue. Ordinary income
increased ¥0.633 billion to ¥1.022 billion (up 162.8%). Quarterly net income increased ¥0.441 billion to ¥0.839
billion (up 111.2%).
Financial results by segment are as follows:
From the first quarter accounting period under review, by adoption of “Accounting standard for disclosures about
segments of an enterprise and related information” (ASBJ Statement No.17, March 27, 2009) and “Guidance on
accounting standard for disclosures about segments of an enterprise and related information (ASBJ Guidance No.20,
March 21, 2008), we provided the segment information as “Agriculture related business” and “Other business”.
Comparison with the same quarter of the previous year is stated by having reclassified the figures in the firstquarter consolidated cumulative period according to the new segments.
a. Agriculture related business
Our sales in the domestic market increased due to the effect of the urgent machinery leasing support program,increased facility construction and others. Overseas sales increased as well mainly due to recovery of orders received
by the progress in an inventory adjustment of our OEM partner in North America.
The trend of sales by product is as follows.
(Domestic)
Sales of machinery for soil preparation (tractors, tillers, etc.) were ¥7.477 billion (up 1.4% from the same periodof the previous year), and sales of cultivating machinery (rice transplanters and vegetable transplanters) were ¥3.375
billion (up 0.4%). Sales of harvesting and processing machines (combine harvesters, etc.) were ¥4.490 billion (up14.3%). Sales of spare parts and farming implements were ¥7.271 billion (up 33.2%). The other agriculture related
sales (facility construction, etc.) were ¥6.542 billion (up 13.0%).
(Overseas)
Sales of machinery for soil preparation (tractors,etc) were ¥2.757 billion (up 22.3% from the same period of theprevious year), and sales of cultivating machinery (rice transplanters) were ¥0.559 billion (up 0.9%). Sales of harvestingand processing machines (combine harvesters, etc.) were ¥0.226 billion (up 35.9%). Sales of spare parts and farming
implements were ¥0.254 billion (up 1.4%). The other agriculture related sales were ¥0.260 billion (down 6.3%).
As a result, the segment sales stood at ¥33.216 billion.
b. Other businessAs other business, we engage in development/sales/operation of computer software. The segment sales stood at¥0.320 billion.

4(2) Qualitative information concerning the shifts in consolidated financial position
As of the end of the first quarter consolidated cumulative period, total assets increased ¥3.058 billion from theprevious fiscal year end to ¥174.103 billion. The main items of assets were a ¥1.302 billion increase in cash and cash
equivalents, a ¥0.940 billion increase in notes and accounts receivable, and a ¥0.994 billion increase in merchandiseand products.
Total liabilities increased ¥2.297 billion from the previous fiscal year end, mainly due to a ¥4.014 billion
decrease in notes and accounts payable, and a ¥6.651billion increase in interest bearing liabilities. Net assets
increased ¥0.760 billion from the previous fiscal year end to ¥56.365 billion. As a result, the equity ratio was 31.5%.
Cash and cash equivalents, at the end of the first quarter consolidated cumulative period increased ¥0.818 billion
from the previous fiscal year end, to ¥7.432 billion.
(Cash flow from operating activities)
Cash flow from operating activities in the first quarter under review resulted in a net expenditure of ¥4.002
billion (net expenditure decreased ¥3.956 billion from the same period last year), mainly due to a decrease in notes
and accounts payable of ¥4.014 billion.
(Cash flow from investment activities)
Cash flow from investment activities in the first quarter under review resulted in a net expenditure of ¥1.841
billion (net expenditure decreased ¥0.611 billion from the same period last year) mainly due to capital investment
expenditure of ¥1.450 billion.
(Cash flow from financial activities)
Cash flow from financial activities in the first quarter under review resulted in a net revenue of ¥6.629 billion(decreased revenue of ¥2.825 billion from the same period last year), mainly due to increase and decrease ofinterest-bearing liabilities.

(3) Qualitative information regarding performance forecast
During the first quarter consolidated cumulative period under review, while we managed to achieve increased
revenue mainly by contribution of sales during January-March due to the effect of the urgent machinery-leasing
support program which was implemented in the previous year, there are concerns at the business environment
surrounding the ISEKI Group such as slow economic recovery both inside and outside the country, prolonged strong
yen trend and further increase in raw material prices. In view of the circumstances, we will endeavor to expand sales
by aggressive promotion of sales activities to stimulate the activation of the market, with the introduction of thecommemorative products of our 85th anniversary of inauguration.
Considering the many uncertainties in forecasting our business performance, we dare not revise the businessperformance forecast announced on May 14, 2010.
From the second quarter, regarding company foreign exchange rates, we continue to assume ¥90 against the US
dollar, and a stronger yen rate by ¥10 against the Euro, ¥110 against the Euro.

2. Other Informaition(1) Changes in important subsidiaries
There is no corresponding item.
(2) Simplified accounting method and unique accounting method.
1) Calculation method of income taxes, deferred tax assets and deferred tax liabilities
Concerning calculation of payable tax of income taxes, we employ a method to limit add-subtract items and tax
exemption items to important ones. With respect to evaluation of collectability of deferred tax assets, we rely on a5method to use business performance forecast or tax planning used in the previous consolidated fiscal year in case no
significant change is recognized in the managerial environment or situation to generate differences.
(3) Changes in principle, procedure and method of statement of accounting procedures
1) Application of the accounting standard for asset retirement obligations
From the first quarter consolidated cumulative period under review, we adopted the “Accounting Standards for
Asset Retirement Obligations” (ASBJ Statement No.18, March 31, 2008) and the “Guidance on AccountingStandards for Asset Retirement Obligations” (ASBJ Guidance No.21, March 31, 2008).
Due to this application, both operating income and ordinary income were reduced by ¥2 million, and thequarterly net income before income taxes was reduced by ¥221 million.
(1) Consolidated Quarterly Balance Sheets(millions of yen)
FY2011(as of Jun. 30, 2010)

FY2010(as of Mar. 31, 2010)

Cash and deposits

8,007

6,705

Notes and accounts receivable-trade30,26029,320

Short-term investment securities

19

19

Merchandise and finished goods

38,13037,136Work in progress

2,947

3,219

Raw materials and supplies

1,424

1,114

Others

3,330

3,319

Allowance for doubtful accounts

(88)

(74)

Total Current Assets

84,03380,761

Buildings and structures, net

14,846

14,835Land

50,22450,190

Other, net

14,883

14,672

79,954

79,697877

883

Investment securities

4,835

5,272

Other

4,841

4,884

Allowance for doubtful accounts

(438)

(455)

Total investment and other assets

9,238

9,702

Total Noncurrent Assets

90,06990,283

174,103

171,044

AssetsCurrent Assets:

Noncurrent Assets:
Property, plant and equipment

Total property, plant and equipment
Intangible assets
Investments and other assets

Total Assets

6

(millions of yen)
FY2011(as of Jun.30, 2010)

FY2010(as of Mar. 31, 2010)

Notes and accounts payable-trade

37,75841,773

Short-term loans payable

25,33015,846

Current portion of bonds

40

1,060

13,476

13,376381

753

Provision for bonuses

1,232

416

Other

7,616

8,543

85,836

81,770Long-term loans payable

14,045

15,958Deferred tax liabilities for land revaluation

7.595

7,595

Provision for retirement benefits

5,066

5,084

Provision for directors' retirement benefits

119

155

Asset retirement obligations

283

-

Other

4,790

4,875

Total Noncurrent Liabilities

31,90033,669117,737

115,439

Capital stock

23,344

23,344

Capital surplus

13,454

13,454Retained earnings

6,915

6,076

Treasury stock

(13)

(13)

43,70142,862315

385

10,86910,869(0)(7)

11,185

11,247

1,479

1,494

Total Net Assets

56,36555,604

Total Liabilities and Net Assets

174,103

171,044

Liabilities
Current Liabilities:

Current portion of long-term loans payable
Accrued consumption taxes

Total Current Liabilities
Noncurrent Liabilities:

Total Liabilities
Net Assets
Shareholders' equity

Total Shareholders’ Equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Revaluation reserve for land
Foreign currency translation adjustments
Total Valuation and Translation Adjustment
Minority interests7(2) Consolidated Quarterly Statements of Income(First Quarter Consolidated Cumulative Period)(millions of yen)
FY2010FY2011(Apr.1,2009-Jun.30, 2009)(Apr.1,2010-Jun.30, 2010)

Net sales

29,461

33,248

Cost of sales

18,833

21,436

10,627

11,812

10,252

10,500374

1,311Interest received

41

44

Dividend received

70

65

Foreign exchange gains

144

-

Other

151

193

408

303

268

234

-

231

125

127

Total non-operating expenses

393

593

Ordinary Income

388

1,022

Gain on sales of noncurrent assets

20

36

Total extraordinary income

20

36

Loss on sales of retirement of noncurrent assets

32

32

Loss on valuation of investment securities
Loss on adjustment for changes of accounting standard
for asset retirement obligations
Other

0

328

-

218

0

1

Total extraordinary losses

33

581

Income before income taxes

376

476

Income taxes-current

84

337

Income taxes-deferred

(98)

(690)

Total Income taxes

(14)

(352)

Income before minority interests-

829

Minority interests in income (loss)

(6)

(9)

397

839

Gross Profit
Selling, general and administrative expenses
Operating Income
Non-operating Income

Total non-operating income
Non-operating Expenses
Interest expenses
Foreign exchange losses
Other

Extraordinary Income

Extraordinary LossNet Income8(3) Consolidated Quarterly Statements of Cash FlowsNet Cash Provided by (Used in) Operating Activities:
Income before income taxes
Depreciation and amortization
Increase (decrease) in provision for retirement benefits
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sales of property, plant and equipment andintangible assets
Decrease(increase) in notes and accounts receivable-trade
Decrease(increase) in inventories
Increase(decrease) in notes and accounts payable-trade
Loss on adjustment for changes of accounting standard for
asset retirement obligations
Other
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Net Cash Provided by (Used in) Investment Activities:
Purchase of property, plant and equipment and intangible
assetsProceeds from sales of property, plant and equipment andintangible assets
Purchase of investment securities
Decrease (increase) in time deposits
Other
Net cash provided by (used in) operating activities
Net Cash Provided by (Used in) Investment Activities:
Increase (decrease) in short-term loans payable, net
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Proceeds from sale and leaseback transactions
Repayments of lease obligations
Purchase of treasury stock
Net cash provided by (used in) financing activities
Effect of Exchange rate Changes on Cash and Cash
Equivalents
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Period
Cash and Cash Equivalents at End of Period

9

FY2010FY2011(Apr.1,2009-Jun.30, 2009)(Apr.1,2010-Jun.30, 2010)

376
1,192
41
(112)
268
(4)

476
1,317
(18)
(110)
234
(23)

12

(3)

(1,498)(2,210)(5,035)(940)(1,031)(4,014)

-

218

(186)
(7,157)
112
(280)
(633)
(7,958)641(3,253)
108
(218)
(638)
(4,002)(1,142)(1,450)

103

98

(0)
(209)
19
(1,229)

(0)
(484)
(5)
(1,841)

11,551700(3,039)
(20)
374
(109)
(1)

9,480
1,465
(3,277)(1,020)
254
(272)
(0)

9,454

6,629

38

31

305
5,609
5,915

818
6,614
7,432

(4) Note on going concern premises
There is no corresponding item.
(5) Segment information(Additional information)
From the first quarter accounting period under review, we adopted “Accounting standard for disclosures about
segments of an enterprise and related information” (ASBJ Statement No.17, March 27, 2009) and “Guidance on
accounting standard for disclosures about segments of an enterprise and related information (ASBJ Guidance No.20,
March 21, 2008.

1. Outline of reportable segments“Reportable segments of our Company” refers to constitutional units of its business for which separated financial
information is made available, which are subject to periodic review by the board of directors in order to determine
allocation of the managerial resources as well as evaluation of the business performance.
Our business by products/services consists of two reportable segments, namely “Agriculture related business”
which is the core of our business, and “Other business” which attends rest of the business.
“Agriculture related business” dedicates to manufacturing and sales of agricultural machinery, as well as business
related to agriculture/agricultural products including construction/sales of agriculture related facilities and revenue
from the use of rice polishing machines. “Other business” is the information processing service business which
attends development/sales/operation of computer software.

2. Information related to the amount of sales, income or loss by reportable segments
First quarter consolidated cumulative period under review (April 1, 2010 – June 30, 2010)

Agriculture
relatedNet sales
Net sales to externalcustomers
Internal sales or transfer
among segments
Total
Segment income (Loss)

Other(million of yen)
Quarterly
consolidated
incomestatement
posted amount

Adjustment
amountTotal

33,21632

33,248-33,248

0

32

32

(32)

-

33,216841

65(2)33,281839(32)-

33,248839(Note)
1. Adjustment amount corresponds to elimination of inter-segments transactions.
2. Segment income (loss) has been adjusted with the quarterly net income in the quarterly consolidated income
statement.
(6) Note in case there is a substantial change in the amount of shareholders’ equity
There is no corresponding item

10