September 18, 2009
Company : Taiheiyo Cement Corporation
Stock code : 5233
URL : http://www.taiheiyo-cement.co.jp
Taiheiyo Cement Revises Second-Quarter Earnings and Interim Dividend Forecasts
Taiheiyo Cement Corporation announced the following revisions (consolidated and nonconsolidated) to its earnings forecasts for the second quarter (2Q) of fiscal 2010 (FY 2010: April 1,2009–March 31, 2010) and its interim dividend, initially announced on May 15, 2009, to account forrecent trends in the company’s performance and other factors.
1. Revised consolidated forecasts for 2Q FY 2010(April 1, 2009 – September 30, 2009)
Net sales

Incomefromoperations

Ordinary
incomeNet income

Previous forecasts (A)Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

Revised forecasts (B)Change (B) − (A)Percent change
Ref: 2Q FY3/09 results

390,000
360,000−30,000−7.7%
429,069

2,000−3,500−5,500—
4,507−3,000−7,000−4,000—−3,379−2,500−9,000−6,500—−7,323

−2.66
−9.61
—
—
−7.80

Net income
per share

2. Revised non-consolidated forecasts for 2Q FY 2010(April 1, 2009-September 30, 2009)
Net sales

Income fromoperations

Ordinary
incomeNet income

Net income
per sharePrevious forecasts (A)Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

Revised forecasts (B)Change (B) − (A)Percent Change
Ref: 2Q FY3/09 results

152,000
138,000−14,000−9.2%
157,301

1,000−3,000−4,000—−5,1813,000
700−2,300−76.7%−1,381

1,000
100
−900
−90.0%
−948

1.06
0.11—
—
−1.01

3. Main reasons for revisions
Consolidated 2Q FY 2010 results forecast
We now expect consolidated net sales to fall short of our initial forecast. Demand for cement
continues to fall in Japan and in the United States in the wake of the global recession, and a broad
range of segments in our resources businesses are being hit hard by declining demand and fallingorders.
We expect consolidated income from operations to be negative, pulled down by the drop in sales
and despite efforts to cut fixed costs. In this context we see our consolidated ordinary income
situation deteriorating, despite a reversal of losses on equity-method investments, resulting in adeeper loss at the net-income line. We also anticipate a heavier loss at the consolidated current netincome level as increased tax expenses compound the effects of lower consolidated net income.
Non-consolidated 2Q FY 2010 results forecast
We now expect non-consolidated net sales to also fall short of our initial forecast, for the same
reasons as with consolidated results.

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We expect non-consolidated income from operations to be negative, also for the same reasons aswith consolidated results. We see non-consolidated ordinary income falling short of our previous
forecast, despite an increase in dividends received. We also estimate that non-consolidated current
net income will be lower than our previous forecast, despite an improvement in our extraordinary
profit and loss situation, on account of deteriorated ordinary income.
We will publish revised forecasts for the full year to March 2010 when we announce final results forthe second quarter.
4. Interim dividend forecast for the first half of FY 2010
Dividend per share (¥)
Base date:end 2Qend year
Full year
Initial forecast (May 15, 2009)
Yen
Yen
Yen———Revised forecast
0——Previous year (March 31, 2009)202
In our initial forecast announcement, we did not specify an interim dividend for FY 2010. Given that
second quarter results have fallen far short of our original expectations, as outlined above, we regretthat we will not be able to pay a dividend for the first half year of FY 2010.
At present we wish to refrain from committing to a FY 2010 year-end dividend, but will
announce our stance as soon as disclosure is feasible.
Disclaimer: The forecasts in this document are based on information available at the time of its
release. Actual results may differ substantially due to unforeseeable factors or post-release events.

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