Juntendo Income Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2011	FY 2010	FY 2009	FY 2008	FY 2007
Period Ending	Aug '11 Aug 31, 2011	Feb '11 Feb 28, 2011	Feb '10 Feb 28, 2010	Feb '09 Feb 28, 2009	Feb '08 Feb 29, 2008	Feb '07 Feb 28, 2007
Revenue	48,067	47,022	47,858	47,041	45,749	45,718
Revenue Growth (YoY)	2.24%	-1.75%	1.74%	2.82%	0.07%	-1.46%
Cost of Revenue	33,393	32,957	33,659	32,745	31,749	31,712
Gross Profit	14,673	14,065	14,199	14,296	14,000	14,007
Selling, General & Admin	12,474	12,342	12,841	12,648	12,428	13,586
Other Operating Expenses	178	178	-	-	-	-
Operating Expenses	13,670	13,538	13,819	13,662	13,422	13,586
Operating Income	1,004	527	380.12	634.01	578.16	420.96
Interest Expense	-229.53	-251	-264.03	-247.25	-259.43	-259.71
Interest & Investment Income	27.1	28	25.7	23.06	19.28	19.18
Other Non Operating Income (Expenses)	52.45	61	25.79	-21.11	36.94	88.61
EBT Excluding Unusual Items	853.63	365	167.58	388.72	374.95	269.04
Merger & Restructuring Charges	14.4	-	-	-	-5.7	-33.13
Gain (Loss) on Sale of Investments	4.39	-5	-	-1.13	-	166.71
Gain (Loss) on Sale of Assets	-7.87	9	3.17	3.1	21.5	-39.75
Asset Writedown	-223.51	-148	-463.03	-342.98	-252.5	-515.19
Other Unusual Items	-184.04	-9	-11.43	174.53	5.08	-6.58
Pretax Income	457.01	212	-303.32	222.23	143.34	-155.1
Income Tax Expense	359.25	179	-6.14	135.64	132.47	246.88
Net Income	97.77	33	-297.18	86.6	10.87	-401.97
Net Income to Common	97.77	33	-297.18	86.6	10.87	-401.97
Net Income Growth	-	-	-	696.89%	-	-
Shares Outstanding (Basic)	8	8	8	8	8	8
Shares Outstanding (Diluted)	8	8	8	8	8	8
Shares Change (YoY)	-0.03%	-0.03%	-0.07%	-0.07%	-0.08%	-0.10%
EPS (Basic)	12.10	4.08	-36.77	10.71	1.34	-49.63
EPS (Diluted)	12.10	4.08	-36.77	10.71	1.34	-49.63
EPS Growth	-	-	-	697.46%	-	-
Free Cash Flow	676.62	758	-1,008	267.53	459.19	958.64
Free Cash Flow Per Share	83.76	93.82	-124.68	33.08	56.74	118.35
Dividend Per Share	10.000	10.000	10.000	10.000	6.250	6.250
Dividend Growth	-	-	-	60.00%	-	-
Gross Margin	30.53%	29.91%	29.67%	30.39%	30.60%	30.64%
Operating Margin	2.09%	1.12%	0.79%	1.35%	1.26%	0.92%
Profit Margin	0.20%	0.07%	-0.62%	0.18%	0.02%	-0.88%
Free Cash Flow Margin	1.41%	1.61%	-2.10%	0.57%	1.00%	2.10%
EBITDA	2,106	1,545	1,358	1,648	1,571	1,528
EBITDA Margin	4.38%	3.29%	2.84%	3.50%	3.43%	3.34%
D&A For EBITDA	1,102	1,018	978.01	1,014	992.93	1,107
EBIT	1,004	527	380.12	634.01	578.16	420.96
EBIT Margin	2.09%	1.12%	0.79%	1.35%	1.26%	0.92%
Effective Tax Rate	78.61%	84.43%	-	61.03%	92.42%	-
Advertising Expenses	-	733	864.33	879.39	835.79	-

Updated Oct 14, 2011. Source: S&P Global Market Intelligence. Standard template. Financial Sources.