Brief Consolidated Financial Report for the Fiscal Year Ended March 31, 2006
May 18, 2006
English translation from the original Japanese-language document(All financial information has been prepared in accordance with accounting principles generally accepted in Japan)
Listed Company Name: OKUMURA CORPORATION
Stock Exchange Listings:
Code No: 1833
Tokyo and Osaka(URL http://www.okumuragumi.co.jp/)
Head Office: Osaka
Representative: President and Representative Director: Takanori Okumura
Contact: Administration Division, Finance and Accounting Department, General Manager: Atsushi Tanaka
TEL: (06) 6621-1101
Date of Board Meeting: May 18, 2006
Adoption of U.S. GAAP: No
Prior-year comparative financial statements are not shown, since the consolidated financial statements are adopted from this fiscal year.
1. Consolidated results for the fiscal year ended March 31, 2006 (April 1, 2005 to March 31, 2006)(1) Consolidated business results(Amounts less than one million yen have been omitted)
Operating income
Ordinary income
Net sales
Millions of yen

Millions of yen

4,160－%－－%Net income pershare (diluted)

YenYen－－20.27－

Millions of yen－－

3,889
－

Net incomeper share

Net income
FY 3/06
FY 3/05

Millions of yen%－－269,887－

FY 3/06
FY 3/05%

－－

5,511
－

Return onequity

Ordinary income
to total assets

Ordinary income
to net sales

%%%

2.3－

1.3－

2.0－

Notes: 1. Equity in earnings of unconsolidated subsidiaries and affiliates FY 3/06
－ million yen
FY 3/05－ million yen
2. Average number of shares outstanding (consolidated)
FY 3/06 203,225,151 shares
FY 3/05－ shares3. Changes in the method of accounting procedure: No
4. Changes in net sales, operating income, ordinary income and net income from the previous period are shown in percentages on a year-on-yearbasis.

(2) Consolidated financial position
Total assets
FY 3/06
FY 3/05

Shareholders’ equity

Millions of yen

Millions of yen

437,155－183,689－

Note: Number of shares outstanding at end of year (consolidated)(3) Consolidated cash flows
Cash flows fromoperating activities
FY 3/06
FY 3/05

FY 3/06

Shareholders’ equity ratio

Shareholders’ equity pershare%

Yen

42.0－202,291,673 shares

Cash flows from investingactivities

FY 3/05

Cash flows fromfinancing activities

907.83－－ shares

Cash and cash equivalents,
end of year

Millions of yen

Millions of yen

Millions of yen

Millions of yen(18,612)

23,215(4,740)46,084－－－－(4) Number of consolidated subsidiaries, and unconsolidated subsidiaries and affiliates accounted for the equity method
Consolidated subsidiaries: 2
Unconsolidated subsidiaries accounted for the equity method: 0
Affiliates accounted for the equity method: 0(5) Changes in the number of consolidated subsidiaries, and unconsolidated subsidiaries and affiliates accounted for the equity method
Newly added consolidated subsidiaries: 2Subsidiaries excluded from consolidation: 0
Newly added equity method companies: 0 Companies excluded from equity method: 02. Forecast of consolidated business results for the fiscal year ending March 31, 2007 (April 1, 2006 to March 31, 2007)
Ordinary income (loss)
Net income
Net sales
Millions of yen

First half of year
Full year

85,900246,850(Reference) Expected net income per share (full year)
20.96 Yen

Millions of yen

Millions of yen(1,570)
5,250

848
4,240

Note: Since the forecasts described above have been made based on information available as of the announcement, actual results may
differ from these forecasts due to various factors.

Consolidated-1

Consolidated Financial Statements for the Year Ended March 31, 2006

Consolidated Balance Sheet2006(as of March 31)
Millions of yen%

Item

AssetsCurrent assets:
Cash and time deposits
Trade notes and accounts receivable
Short-term investments
Accumulated costs of uncompleted contracts
Other inventories
Deferred income taxes
Other accounts receivable
OthersAllowance for doubtful accounts
Total current assets

53,76084,342
7,819
113,981
8,848
13,352
23,983
4,038(4,742)
305,383

Fixed assets:
Property and equipment
Buildings
Machinery, equipment, tools, furniture and fixtures
Land
Construction in progress
Total property and equipment

4,144
930
15,000113
20,188Intangible fixed assets

69.9

1,065

Investments and other assets
Investments in securities
Long-term receivables
Other investments
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets

Consolidated-2

103,979
2,517
4,060
(39)
110,517
131,771437,155

30.1
100

2006
(as of March 31)
Millions of yen%

Item

Liabilities, Minority Interests, and Shareholders’ Equity
Current liabilities:
Trade notes and accounts payable
Short-term borrowings
Accrued income taxes
Advances received on uncompleted contracts
Allowance for repairs
Allowance for warranty work on construction projects
Allowance for construction loss
OthersTotal current liabilities

98,267
12,431
241
88,490
236
695
1,944
21,531
223,837

51.2

Long-term liabilities:
Long-term debt
Deferred income taxes
Accrued severance indemnitiesOthers
Total long-term liabilities
Total liabilities

583
19,4297,877
1427,903
251,741

6.4
57.6

1,724

0.4

19,83825,326112,973
36,374(10,823)
183,689

4.5
5.8
25.9
8.3
(2.5)
42.0

437,155

100

Minority interests
Shareholders’ equity:
Common stock
Capital reserve
Retained earnings
Net unrealized gains on securities
Less treasury stock, at cost
Total shareholders’ equity
Total liabilities, minority interests, andshareholders’ equity

Consolidated-3

Consolidated Statement of Income2006(For the year ended March 31)
Millions of yen%Item
Net sales:
Completed construction
OthersTotal net sales
Cost of sales:
Completed construction
OthersTotal cost of sales
Gross profit
Completed construction
OthersTotal gross profit
Selling, general and administrative expenses
Operating income
Other income:Interest income
Dividend income
Amortization of consolidation differences
OthersTotal other income
Other expenses:
Interest expenses
OthersTotal other expenses
Ordinary income
Extraordinary gains:
Prior-year adjustment
Gain on sales of property and equipment
Gain on sales of investments in securities
Gain on redemption of investments in securities
Total extraordinary gains
Extraordinary losses:
Prior-year adjustment
Loss on sales of property and equipment
Loss on disposal of property and equipment
Devaluation of investments in securities
Loss on deduction of carrying amounts of property andequipment
Total extraordinary losses
Income before income taxes and minority interests
Current income taxes
Deferred income taxes
Minority interests
Net income

Consolidated-4

261,041
8,846
269,887100

236,952
6,236
243,18890.1

24,0882,610
26,69922,809
3,889

9.9
8.5
1.4

277
1,363
14298
1,954

0.7

269
62
332
5,511

0.1
2.0341
1,389
140
825
2,696

1.0

200274
12411
702
7,506
216
3,120
8
4,160

0.2
2.8
0.1
1.2
0.0
1.5

Consolidated Statement of Cash Flows
2006(For the year ended March 31)
Millions of yen

Item

Cash flows from operating activities:
Income before income taxes and minority interests
Depreciation
Amortization of consolidation differences
Decrease in allowance for doubtful accounts
Decrease in accrued severance indemnities
Increase in allowance for construction loss
Dividends and interest incomeInterest expenses
Gain on sales of property and equipment
Loss on deduction of carrying amounts of property and equipment
Gain on sales of marketable securities and investments in securities
Gain on redemption of investments in securities
Devaluation of marketable securities and investments in securities
Increase in trade notes and accounts receivable
Decrease in accumulated costs of uncompleted contracts
Decrease in other inventories
Decrease in trade notes and accounts payable
Decrease in advances received on uncompleted contracts
Increase in accrued consumption taxes
Bonuses paid to directors and corporate auditors
Other, net
Subtotal
Dividends and interest received
Interest paid
Income taxes paid
Net cash used in operating activities

7,506
558
(14)
(513)
(624)
1,944
(1,641)269(1,386)
411
(140)
(825)
12(16,864)
8,511
1,136(12,424)(6,949)
912
(42)
213
(19,950)
1,763
(264)
(160)
(18,612)

Cash flows from investing activities:
Net increase in time deposits
Payments for purchases of marketable securities and investments insecurities
Proceeds from sales of marketable securities and investments insecurities
Payments for purchases of tangible and intangible fixed assets
Proceeds from sales of tangible and intangible fixed assets
Issuance of loans receivableCollection of loans receivable
Other, net
Net cash provided by investing activities

13,204(8,907)
18,144(799)
1,672(1,517)
176
1,243
23,215

Cash flows from financing activities:
Net decrease in short-term borrowings
Proceeds from long-term debt
Repayments of long-term debt
Payments for purchases of treasury stock
Proceeds from sales of treasury stock
Dividends paid
Net cash used in financing activities

Effect of exchange rate changes on cash and cash equivalents
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year

Consolidated-5(1,428)67(74)(1,468)
4(1,840)(4,740)40(95)
46,18046,084