Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Third Quarter of Fiscal 2008 ended March 31, 2008
February 12, 2008
Company:
Stock code:
URL:

Taiheiyo Cement Corporation5233
http://www.taiheiyo-cement.co.jp/

Fiscal 2007 3Q: April 1, 2006- December 31,2006
Fiscal 2007:
April 1, 2006-March 31, 2007
Fiscal 2008 3Q: April 1, 2007-December 31, 2007
Fiscal 2008:
April 1, 2007-March 31, 2008

The accompanying consolidated financial results are not intended to present the financial results in accordancewith accounting principles and practices generally accepted in countries and jurisdictions other than Japan.

1. Consolidated results for the third quarter of FY3/08 (April 1, 2007 – December 31, 2007)
All yen figures are rounded down to the nearest one million yen.
(1) Consolidated results of operations
3Q FY3/08
3Q FY3/07
FY3/07

Net Sales
Millions of Yen
697,891698,217940,630

3Q FY3/08
3Q FY3/07
FY3/07

Net income
Millions of Yen%
18,866-7.2
20,325 794.4
24,408(2) Consolidated financial position
3Q FY3/08
3Q FY3/07
FY3/07

Total assets
Millions of Yen
1,271,136
1,286,598
1,256,980

%
-0.0
5.2

Operating income
Millions of Yen%
39,257 -28.8
55,144
21.6
76,692

Ordinary income
Millions of Yen%
33,372 -32.2
49,202
29.1
67,907

EPS
Yen
20.13
21.72
26.08

Diluted EPS
Yen
18.61
20.99
25.20

All yen figures are rounded down to the nearest one million yen.

Total net assets
Millions of Yen
339,479
320,034
329,637

Equity ratio
%
23.4
21.9
23.3

Equity per shareYen
317.22301.24312.98(Reference:FY3/08 consolidated earnings forecast (April 1, 2007 – March 31, 2008))
There is no revision proposed in the consolidated project performance for the FY3/08, which was announced on
November 13, 2007.

Page 1 of 4

Consolidated Balance Sheets(Summary)All yen figures are rounded down to the nearest one million yen.

(Unit: Millions of Yen)
3H FY3/07
Change(As of 12/31/06)

3Q FY3/08(As of 12/31/07)

FY3/07(As of 3/31/07)

AssetsCash and time deposits
Notes and accounts receivable
Inventories
Other current assets
Current assets

78,732
217,527
91,06340,601
427,925

70,142206,927
80,412
34,043
391,526

8,589
10,60010,6506,558
36,39876,374
224,274
85,87643,483430,008

Tangible fixed assets
Intangible fixed assets
Investments and other assets
Fixed assets
Total assets

569,966
43,538229,705
843,210
1,271,136

580,285
45,064
240,102865,453
1,256,980-10,319-1,526-10,396-22,242
14,156582,962
45,887
227,7398565891,286,598

126,594

116,751

9,842

130,460

294,214283,632

10,581

325,856

32,00086,816539,624

11,00087,239498,623

21,000-423
41,0005,000
82,149543,467

284,301107,730
392,032
931,656

315,520
113,198
428,718
927,342-31,218-5,467-36,686
4,314

316,388
106,708
423,096966,563

69,49960,751
141,225-1,685
269,791

69,49959,868126,127-1,669253,826883
15,097-15
15,96469,49959,603
121,992-1,831
249,263

16,089
49
4,669
8,883

25,48521
4,677
10,720-9,39628-8-1,83725,037
6
4,696
2,827

-1,690-1,74049-

28,00039,165-11,164

32,567

41,68736,646

5,040

38,204339,479

329,637

9,841

320,034

1,271,136

1,256,980

14,156

1,286,598

Item

Liabilities
Notes and accounts payable
Short-term bank loans and current
portion of long-term debt
Commercial paper
Other current liabilities
Current liabilities
Long-term debt
Other fixed liabilities
Fixed liabilities
Total liabilities
Net Assets
Common stock
Additional paid-in capital
Retained earnings
Treasury stock, at cost
Shareholders’ equity
Unrealized gain on other securities
Net unrealized gain on derivatives
Revaluation excess
Foreign currency translation adjustments
Accumulated other comprehensivelosses
Valuation and translation adjustments
Minority interests in consolidated
subsidiaries
Total net assets
Total liabilities and net assets

Page 2 of 4

Consolidated Statements of Income(Summary)All yen figures are rounded down to the nearest one million yen.

3Q FY3/07(4/1/06–12/31/06)
698,217

Cost of sales

550,641

539,237

11,403

728,386

Gross profit
Selling, general and administrative
expenses
Operating income

147,249

158,979-11,730

212,244

107,992

103,835

4,156

135,551

ItemNet sales
Operatingincome/loss(Unit: Millions of Yen)
FY3/07
Change(4/1/06–3/31/07)-326
940,630

3Q FY3/08(4/1/07–12/31/07)
697,891

39,25755,144-15,886

76,692Non-operating income

6,892

7,398

-506

9,075

Non-operating expenses

12,776

13,340-563

17,860Ordinary income

33,372

49,202-15,829

67,907Extraordinary gains (losses)-107-9,543

9,435-17,038

Income before income taxes and minority interests

33,26439,659-6,39450,869Current income taxes

12,492

16,127-3,634

19,867

Prior years’ adjustment income taxes-2,252--2,252-

Differed Income taxesMinority interests in net income of consolidated
subsidiaries
Net income

1,835

569

1,266

3,666

2,322

2,636-314

2,926

18,866

20,325-1,45924,408Page 3 of 4

Segment Information
Segment information

All yen figures are rounded down to the nearest one million yen.

(Unit: Millions of Yen)
MineralCementResources
Business
Business
Net Sales
Operatingexpenses
Operatingincome/loss

Environmental
Business

3Q FY3/08 (4/1/07 – 12/31/07)
Construction Ceramics &Materials Electronics Other
Business
BusinessTotal

Eliminations
Consolidated
or corporate
totalassets

437,926

78,14949,841

71,20446,45486,590770,166(72,274)

697,891

406,723

75,36547,14071,76446,73582,412

730,141(71,507)658,634

31,2032,783

2,701-560

-281

4,178

40,024(767)

39,257All yen figures are rounded down to the nearest one million yen.

(Unit: Millions of Yen)
MineralCementResources
Business
Business
Net Sales
Operatingexpenses
Operatingincome/loss

Environmental
Business

3Q FY3/07 (4/1/06 – 12/31/06)
Construction Ceramics &Materials Electronics Other
Business
Business

Total

Eliminations
Consolidated
or corporate
total
assets437,61275,37451,201

70,55650,162

79,771

764,679(66,461)698,217393,174

71,94648,98370,262

49,25075,374

708,992(65,918)

643,073

44,437

3,428

2,218

294

911

4,396

55,686(542)

55,144

Page 4 of 4