CONSOLIDATED FINANCIAL STATEMENTS (for the fiscal year 2008 ended December 31) February 24, 2009 SUMIDA CORPORATION Listed 6817 ＵＲＬ Representative CEO Shigeyuki Yawata Contact Person CFO Saburo Matsuda Scheduled date of general meeting of shareholders March 28, 2009 Scheduled date of payment of cash dividends March 13, 2009 Scheduled date of filing Yukashoken Hokokusho March 30, 2009 Company Name Code No Tokyo Stock Exchange in Japan http://www.sumida.com ＴＥＬ 81-3-3272-7100 Consolidated Balance Sheets （Unit : millions of yen） Period FY2008 FY2007 % Account % ASSETS Ⅰ Current assets 1. Cash and cash equivalents 2. Trade receivables 3. Inventories 4. Deferred tax assets 5. Others 6. Allowance for doubtful accounts Total current assets Ⅱ 10,855 8,305 7,813 457 3,815 (19) 31,226 9,181 12,597 9,814 1,894 6,207 (35) 51.3 39,658 55.5 Fixed assets ( 1 ) Tangible fixed assets 1. Buildings 2. Machinery and equipment 3. Furniture and fixture 4. Land 5. Construction in progress 6. Accumulated depreciation Total tangible fixed assets 11,157 22,512 6,817 1,744 460 (26,035) 16,655 11,450 24,017 7,881 1,367 2,282 (27,121) 27.4 19,876 27.8 ( 2 ) Intangible fixed assets 1. Goodwill 2. Leasehold rights 3. Software 4. Others Total intangible fixed assets 5,275 555 175 913 6,918 6,495 458 290 630 11.4 7,873 11.0 Total investments and other assets Total fixed assets 946 3,350 1,675 5,971 29,544 9.8 48.6 881 1,852 1,370 4,103 31,852 5.7 44.5 Deferred assets Total deferred assets TOTAL ASSETS 44 44 60,814 0.1 0.1 100.0 ----71,510 ----100.0 ( 3 ) Investments and other assets 1. Investments in securities 2. Deferred tax assets 3. Others Ⅲ Consolidated Balance Sheets （Unit : millions of yen） Period FY2008 FY2007 % Account % LIABILITIES Ⅰ Current liabilities 1. Trade payables 2. Short-term loans 3. Convertible bonds with stock acquisition rights (with remaining) maturities of less than a year 4. Current portion of long term loan 5. Others Total current liabilities Ⅱ 2,684 4,433 18,174 14,673 430 --- 7,770 --- 2,075 1,523 6,173 37,306 5,210 61.3 25,839 36.2 Fixed liabilities 1. Convertible Bond 2. Convertible bonds with stock acquisition rights 3. Long-term loans 4. Deferred tax liabilities 5. Others Total fixed liabilities 1,815 --- --- 8,000 3,923 3,563 527 566 2,543 3,623 8,808 14.5 15,752 22.0 46,114 75.8 41,591 58.2 1. Paid in capital 7,217 11.9 7,217 10.1 2. Capital reserve 7,030 11.6 7,030 9.8 3. Retained earnings 9,423 15.5 15,934 22.2 Total liabilities SHAREHOLDERS’ EQUITY Ⅰ Shareholders' equity 4. Treasury stock Total shareholders’ equity Ⅱ (2.5) (1,524) (2.1) 36.5 28,657 40.0 Revaluation, translation adjustments and others 1. Unrealized gains/losses on securities at market valuation 2. Gains/losses on hedging 3. Cumulative translation adjustments Total revaluation, translation adjustments and others Ⅲ (1,524) 22,146 Minority interest Total shareholders' equity TOTAL LIABILITIES, MINORITY INTEREST AND SHAREHOLDERS’ EQUITY 21 (198) 0.0 (0.3) (8,174) (13.5) (8,351) (13.8) (82) (27) 6 (103) (0.1) (0.0) 0.0 (0.1) 905 1.5 1,365 1.9 14,700 24.2 29,919 41.8 60,814 100.0 71,510 100.0 Consolidated Statements of Income FY2008 Period Account Amount % of Sales (Unit : millions of yen) FY2007 Amount % of Sales Ⅰ Net sales 55,734 100.0 70,210 100.0 Ⅱ Cost of sales 42,898 77.0 53,102 75.6 Gross profit 12,836 23.0 17,108 24.4 10,669 19.1 12,396 17.7 2,167 3.9 4,712 6.7 Ⅲ Selling, general & administrative expenses Operating income Ⅳ Non-operating income (expenses) Interest and dividends received Interest paid Exchange gain (loss) Investment loss on equity method Other non-operating income (expenses) Non-operating income (expenses) Ordinary income 140 132 (426) (426) (1,703) 28 --- (68) (324) (10) (2,313) (4.2) (146) (0.3) (344) 4,368 (0.5) 6.2 Ⅴ Extraordinary income (losses) Gain on sales of fixed assets Gain on sales of securities 15 3,028 1 103 --- 370 Gain on sales of securities of affiliated company Loss on disposal of fixed assets Structural reorganization expenses --- (102) (193) Valuation loss of investment securities (1,884) (2,267) Adjustment of subcontracting expenses (404) (1,383) VAT arrears (425) --- Provision for bad debts (281) --- Loss on liquidation of affiliated company (129) --- --- (162) Loss on sales of securities of affiliated company Other extraordinary income (losses) (875) (250) Extraordinary income (losses) (4,084) (7.3) Income before income taxes (4,230) (7.6) 1,497 2.7 Income taxes Minority interest Net income 16 (5,743) 0.0 (10.3) (754) (1.1) 3,614 5.1 706 1.0 53 0.0 2,855 4.1