Maruchiyo Yamaokaya Income Statement

Financials in millions JPY. Fiscal year is February - January.

Millions JPY. Fiscal year is Feb - Jan.

Fiscal Year	FY 2011	FY 2010	FY 2009	FY 2008	FY 2007
Period Ending	Jan '11 Jan 31, 2011	Jan '10 Jan 31, 2010	Jan '09 Jan 31, 2009	Jan '08 Jan 31, 2008	Jan '07 Jan 31, 2007
Revenue	7,953	7,224	7,034	6,444	5,959
Revenue Growth (YoY)	10.09%	2.71%	9.14%	8.13%	16.83%
Cost of Revenue	2,073	1,905	1,941	1,691	1,504
Gross Profit	5,880	5,319	5,092	4,753	4,456
Selling, General & Admin	5,175	4,613	4,576	4,408	4,031
Other Operating Expenses	-	-	-4	-0.8	0.5
Operating Expenses	5,623	4,948	4,863	4,673	4,260
Operating Income	256.65	370.94	229.49	79.99	195.76
Interest Expense	-44.63	-38.46	-41.29	-46.49	-44.83
Interest & Investment Income	4.39	3.81	4.03	0.82	2.38
Other Non Operating Income (Expenses)	64.51	56.99	51.2	46.71	49.8
EBT Excluding Unusual Items	280.93	393.27	243.43	81.03	203.11
Merger & Restructuring Charges	-	-	-1.66	-0.76	-5.84
Gain (Loss) on Sale of Assets	-4.77	-4.82	-	-	1.54
Asset Writedown	-57.77	-13.29	-31.4	-38.78	-3.71
Other Unusual Items	-	-	15.48	2.68	-28.14
Pretax Income	227.48	375.17	225.86	55.31	166.96
Income Tax Expense	111.92	168.1	107.55	35.04	81.33
Net Income	115.56	207.06	118.31	20.27	85.63
Net Income to Common	115.56	207.06	118.31	20.27	85.63
Net Income Growth	-44.19%	75.02%	483.66%	-76.33%	-35.20%
Shares Outstanding (Basic)	20	20	20	20	20
Shares Outstanding (Diluted)	20	20	20	20	20
Shares Change (YoY)	-0.71%	0.24%	-	0.50%	13.26%
EPS (Basic)	5.91	10.48	5.99	1.03	4.36
EPS (Diluted)	5.88	10.46	5.99	1.03	4.36
EPS Growth	-43.79%	74.60%	483.65%	-76.45%	-42.79%
Free Cash Flow	-488.15	-80.86	196.8	102.39	-581.11
Free Cash Flow Per Share	-24.83	-4.08	9.96	5.18	-29.57
Dividend Per Share	2.083	2.083	2.083	2.083	2.083
Gross Margin	73.94%	73.63%	72.40%	73.76%	74.77%
Operating Margin	3.23%	5.13%	3.26%	1.24%	3.28%
Profit Margin	1.45%	2.87%	1.68%	0.32%	1.44%
Free Cash Flow Margin	-6.14%	-1.12%	2.80%	1.59%	-9.75%
EBITDA	704.78	698.59	521.53	347.62	426.7
EBITDA Margin	8.86%	9.67%	7.41%	5.39%	7.16%
D&A For EBITDA	448.12	327.65	292.04	267.63	230.94
EBIT	256.65	370.94	229.49	79.99	195.76
EBIT Margin	3.23%	5.13%	3.26%	1.24%	3.28%
Effective Tax Rate	49.20%	44.81%	47.62%	63.35%	48.71%
Advertising Expenses	94.49	57.31	44.6	62.16	-

Updated Mar 11, 2011. Source: S&P Global Market Intelligence. Standard template. Financial Sources.