June 14, 2011
To all related parties:
Company name

Ryosan Company, Limited

Representative

Naoto Mimatsu, President(Securities code8140)

Inquiries

Kiyoshi Suzuki, IR/Public Relations officer(TEL03-3862-3816)

Notice Concerning Earnings and Dividends Forecasts for the Fiscal Year Ending March 31, 2012
When the “Earnings Report for Fiscal 2010, Ended March 31, 2011[Japanese Standards] (Consolidated)” was released on
May 12, 2011, the earnings and dividends forecasts for the fiscal year ending March 31, 2012 were undecided. However,this is to notify you of the following decision taken on June 14, 2011 according to the resolution of Companies Act ,article
370 (Written resolution alternating an act of board meeting).

●Revisions of Earnings Forecasts
Revised consolidated earnings forecasts for the first half (Cumulative) of the fiscal year ending March 31, 2012 (April 1,
2011 to September 30, 2011)

Previously announced forecasts(A)
Revised forecast (B)Change (B-A)
Rate of change (%)(Reference) Actual results for thefirst half of the previous fiscal
year (First half of the fiscal year
ending March 31, 2011)

Net sales

Operatingincome

Ordinaryincome

Quarterly net
incomeNet income pershare

Million yen―
105,000――

Million yen―
1,100――

Million yen―
1,500――

Million yen
―
800―
―

yen
―

106,543

3,567

3,970

2,541

23.21

73.74

Revised consolidated earnings forecasts for the fiscal year ending March 31, 2012 (April 1, 2011 to March 31, 2012)
Net sales
Operating
Ordinary
Quarterly net
Net income perincomeincomeincomeshare
Previously announced forecasts(A)

Million yen―

Revised forecast (B)Change (B-A)
Rate of change (%)(Reference) Actual results for theprevious fiscal year (the fiscalyear ended March 31, 2011)

230,000――

Million yen―

Million yen
―

3,500
―
―

216,154

4,200
―
―

6,078

Million yen
―

yen
―

2,500

72.54

4,130

119.85――
6,883

Reasons for the revision
In terms of performance for the fiscal year ending March 31, 2012, we could not make predictions because the affects on theGroup related to the Great East Japan Earthquake were not clear. Nevertheless, we are notifying you of our predictedperformance, as shown above, in view of recent trends.
(Note) The above estimates were made based on the information available as of the date of this release. Actual results could
significantly differ from the above estimates due to a variety of factors.

1

●Revisions of Dividends Forecasts
Annual dividends
End of 1Q
Previously announced forecasts(Announced May 12, 2011)
Revised forecast
Actual results for this fiscal year
Actual results for the previous fiscalyear (the fiscal year ended March 31,2011)

End of 2Q

yen
―
―
―

End of 3Q

yen
―

―

yen

20.00

―
―
―

40.00

―

―

End of 4Q

Total

yen
―

yen
―

40.00

60.00

40.00

80.00

Reasons for the revision
Ryosan recognizes that the return of profits to shareholders is an important business priority. At the same time, theCompany is working to increase consolidated basic net income per share. Accordingly, Ryosan’s fundamental policy is tocontinue high dividend payout in profits returned to shareholders. Futhermore, the Company is targeting a consolidated
dividend payout ratio of 50% or more.
With regard to the estimated dividends of the fiscal year ending March 31, 2012, they are as outlined above, in view of ourestimated performance.

2