ASSETS

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1 42 Annual Report 2014 Financial Statements Consolidated Balance Sheet Consolidated Balance Sheet March 31, 2014 Millions of Yen (Note 1) ASSETS CURRENT ASSETS: Cash and cash equivalents (Note 10) 27,694 24,467 $ 269,083 Time deposits (Note 10) 2,522 1,719 24,500 Trade notes and accounts receivable (Note 10) 76,193 70, ,315 Deferred tax assets current (Note 8) 1,205 1,392 11,712 Other current assets 8,582 7,507 83,384 Allowance for doubtful accounts (1,128) (924) (10,960) Total current assets 115, ,700 1,118,034 PROPERTY, PLANT AND EQUIPMENT: Land 16,922 16, ,415 Buildings and structures 47,095 42, ,591 Furniture and fixtures 15,513 13, ,731 Machinery, equipment and vehicles 21,413 19, ,055 Construction in progress 962 1,953 9,355 Total 101,905 93, ,147 Accumulated depreciation (46,863) (41,796) (455,340) Total property, plant and equipment 55,042 51, ,807 INVESTMENTS AND OTHER ASSETS: Investments in securities (Notes 4 and 10) 1, ,759 Investments in unconsolidated subsidiaries and affiliate companies 2,335 2,351 22,692 Net defined benefit asset (Note 6) 284 2,759 Goodwill 2,962 3,054 28,784 Deposits 3,141 2,730 30,515 Deferred tax assets non-current (Note 8) 3,241 2,535 31,492 Other assets 6,846 5,805 66,507 Total investments and other assets 19,813 17, ,508 TOTAL 189, ,664 $ 1,845,349

2 Annual Report Consolidated Balance Sheet March 31, 2014 Millions of Yen (Note 1) LIABILITIES AND EQUITY CURRENT LIABILITIES: Trade notes and accounts payable (Note 10) 39,010 32,747 $ 379,031 Short-term loans payable (Notes 5 and 10) 3,030 2,393 29,440 Current portion of long-term debt (Notes 5 and 10) 5,359 1,090 52,073 Accrued income taxes (Note 10) 1, ,826 Accrued bonuses to employees 2,386 2,047 23,185 Provision for alleged antitrust law violation 1,451 Deferred tax liabilities current (Note 8) Other current liabilities 17,713 21, ,097 Total current liabilities 68,794 62, ,422 LONG-TERM LIABILITIES: Long-term debt (Notes 5 and 10) 12,940 13, ,732 Accrued pension and severance costs for: Employees (Note 6) 4,955 Directors and audit & supervisory board members ,969 Net defined benefit liability (Note 6) 5,553 53,959 Deferred tax liabilities non-current (Note 8) ,603 Other long-term liabilities 1, ,665 Total long-term liabilities 20,679 19, ,928 EQUITY (Notes 7 and 16): Common stock, no par value authorized; 160,000,000 shares in 2014 and 2013, issued; 42,220,800 shares in 2014 and ,301 4,301 41,790 Capital surplus 4,733 4,733 45,989 Retained earnings 57,516 56, ,839 Treasury stock at cost; 51,350 shares in 2014 and 50,958 shares in 2013 (70) (69) (676) Accumulated other comprehensive income Unrealized gains or losses on available-for-sale securities ,145 Pension liability adjustment (718) (421) (6,976) Deferred gains or losses on hedges (5) (7) (48) Foreign currency translation adjustments 2,312 (2,227) 22,462 Total 68,290 63, ,525 Minority interests 32,160 29, ,474 Total equity 100,450 92, ,999 TOTAL 189, ,664 $ 1,845,349 See notes to consolidated financial statements.

3 44 Annual Report 2014 Consolidated Statement of Income Consolidated Statement of Income Millions of Yen (Note 1) NET SALES 406, ,049 $ 3,945,197 COST OF SALES 341, ,734 3,314,341 Gross profit 64,928 52, ,856 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Note 13) 60,405 50, ,913 Operating income 4,523 1,659 43,943 OTHER INCOME (EXPENSES): Interest and dividend income ,571 Interest expense (422) (265) (4,103) Foreign currency exchange gain net Equity in earnings of unconsolidated subsidiaries and affiliate companies Compensation for accidents (91) Gain on negative goodwill 1,314 Loss on revaluation of investments in securities (35) Loss on cancellation of leasehold contracts (79) Loss on abolishment of retirement benefit plan (Note 6) (111) Impairment loss (Note 3) (55) (531) Others net ,410 Other income (expense) net 634 2,415 6,163 INCOME BEFORE INCOME TAXES AND MINORITY INTERESTS 5,157 4,074 50,106 INCOME TAXES (Note 8): Current 2,608 1,740 25,333 Deferred (170) (135) (1,647) Total income taxes 2,438 1,605 23,686 NET INCOME BEFORE MINORITY INTERESTS 2,719 2,469 26,420 MINORITY INTERESTS IN NET INCOME 1,404 1,350 13,647 NET INCOME 1,315 1,119 $ 12,773 Yen PER SHARE: Basic net income per share (Note 16) $ Cash dividends See notes to consolidated financial statements.

4 Annual Report Consolidated Statement of Comprehensive Income Consolidated Statement of Comprehensive Income Millions of Yen (Note 1) NET INCOME BEFORE MINORITY INTERESTS 2,719 2,469 $ 26,420 OTHER COMPREHENSIVE INCOME: Unrealized gains or losses on available-for-sale securities 134 (67) 1,302 Deferred gains or losses on hedges 5 (16) 53 Foreign currency translation adjustments 6,161 9,171 59,852 Share of other comprehensive income in associates ,021 Pension liability adjustment (55) 99 (532) Gain or loss on changes in equity 65 Total other comprehensive income or loss (Note 14) 6,350 9,505 61,696 COMPREHENSIVE INCOME 9,069 11,974 $ 88,116 TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO: Owners of the parent 5,644 6,884 $54,835 Minority interests 3,425 5,090 33,281 See notes to consolidated financial statements.

5 46 Annual Report 2014 Consolidated Statement of Changes in Equity Consolidated Statement of Changes in Equity Thousands Outstanding Number of Shares of Common Stock Common Stock Capital Surplus Retained Earnings Treasury Stock BALANCE, MARCH 31, ,170 4,301 4,733 56,456 (69) Cumulative effect of change in accounting policies (159) BALANCE, MARCH 31, 2012, AS RESTATED 42,170 4,301 4,733 56,297 (69) Net income for the year ended March 31, ,119 Cash dividends ( 18.0 per share) (801) Purchase of treasury stock (0) (0) Adjustment of retained earnings for newly consolidated subsidiaries 154 Gain or loss on changes in equity 85 Other 12 Net change in the year BALANCE, MARCH 31, ,170 4,301 4,733 56,866 (69) Net income for the year ended March 31, ,315 Cash dividends ( 18.0 per share) (759) Purchase of treasury stock (1) (1) Adjustment of retained earnings for newly consolidated subsidiaries 36 Adjustment due to change in the fiscal period of consolidated subsidiaries 58 Net change in the year BALANCE, MARCH 31, ,169 4,301 4,733 57,516 (70)

6 Annual Report Unrealized Gains or Losses on Available-for-sale Securities Millions of Yen Accumulated Other Comprehensive Income Deferred Pension Gains or Liability Losses on Adjustment Hedges Foreign Currency Translation Adjustments Total Minority Interests Total Equity 154 (50) (7,817) 57,708 21,850 79,558 (421) (16) (596) (409) (1,005) 154 (471) (7,833) 57,112 21,441 78,553 1,119 1,119 (801) (801) (0) (0) (67) 50 (7) 5,606 5,582 7,586 13, (421) (7) (2,227) 63,263 29,027 92,290 1,315 1,315 (759) (759) (1) (1) (297) 2 4,539 4,378 3,133 7, (718) (5) 2,312 68,290 32, ,450

7 48 Annual Report 2014 Consolidated Statement of Changes in Equity Consolidated Statement of Changes in Equity Common Stock Capital Surplus Retained Earnings Treasury Stock BALANCE, MARCH 31, 2013 $ 41,790 $ 45,989 $ 552,535 $ (671) Net income for the year ended March 31, ,773 Cash dividends ($0.175 per share) (7,375) Purchase of treasury stock (5) Adjustment of retained earnings for newly consolidated subsidiaries 350 Adjustment due to changes in the fiscal period of consolidated subsidiaries 556 Net change in the year BALANCE, MARCH 31, 2014 $ 41,790 $ 45,989 $ 558,839 $ (676) See notes to consolidated financial statements.

8 Annual Report Unrealized Gains or Losses on Available-for-sale Securities (Note 1) Accumulated Other Comprehensive Income Foreign Pension Deferred Gains Currency Liability or Losses on Translation Adjustment Hedges Adjustments Total Minority Interests Total Equity $ 843 $ (4,090) $ (71) $ (21,638) $ 614,687 $ 282,031 $ 896,718 12,773 12,773 (7,375) (7,375) (5) (5) ,302 (2,886) 23 44,100 42,539 30,443 72,982 $ 2,145 $ (6,976) $ (48) $ 22,462 $ 663,525 $ 312,474 $ 975,999

9 50 Annual Report 2014 Consolidated Statement of Cash Flows Consolidated Statement of Cash Flows Millions of Yen (Note 1) OPERATING ACTIVITIES: Income before income taxes and minority interests 5,157 4,074 $ 50,106 Adjustments for: Depreciation and amortization 5,906 4,899 57,385 Amortization of goodwill and gain on negative goodwill 875 (552) 8,502 Increase (decrease) in accrued pension and severance costs (169) Increase (decrease) in net defined benefit liability Interest and dividend income (264) (270) (2,571) Interest expense ,103 Loss (gain) on foreign currency exchange, net 24 (43) 235 Equity in earnings of unconsolidated subsidiaries and affiliate companies (59) (229) (574) Decrease (increase) in trade notes and accounts receivable 2,548 3,961 24,754 Increase (decrease) in trade notes and accounts payable 892 (4,684) 8,671 Loss (gain) on sale of property, plant and equipment, net (304) (325) (2,951) Impairment loss Loss (gain) on sale of investments in securities (48) (65) (462) Loss on revaluation of investments in securities 35 Loss (gain) on liquidation of investments in securities Increase (decrease) in allowance for doubtful accounts 79 (211) 770 Other net (5,013) 4,052 (48,706) Total 10,326 10, ,331 Interest and dividend received ,227 Interest paid (426) (273) (4,136) Fine for alleged violation of Anti-Trust Law paid (1,518) (14,745) Income taxes paid (2,434) (1,928) (23,656) Net cash provided by (used in) operating activities 6,280 8,910 61,021 INVESTING ACTIVITIES: Payments into time deposits (4,185) (2,362) (40,664) Proceeds from withdrawal of time deposits 3,500 2,005 34,004 Purchase of property, plant and equipment (6,592) (8,274) (64,049) Proceeds from sale of property, plant and equipment 1,220 1,043 11,858 Purchase of investments in securities (412) (961) (4,003) Proceeds from sale of investments in securities ,379 Lending of loans receivable (398) (99) (3,871) Collection of loans receivable ,226 Purchase of investments in subsidiaries (2,112) Payments for investments in capital of affiliates (74) (722) Proceeds from liquidation of affiliates Purchase of investments in subsidiaries resulting in change in scope of consolidation (39) Proceeds from purchase of investments in subsidiaries resulting in change in scope of consolidation 458 Proceeds from purchase of investments in capital of subsidiaries resulting in change in scope of consolidation 392 Other net (262) 132 (2,540) Net cash provided by (used in) investing activities (6,896) (9,694 ) (66,999) FORWARD (616) (784) $ (5,978)

10 Annual Report Consolidated Statement of Cash Flows Millions of Yen (Note 1) FORWARD (616) (784 ) $ (5,978) FINANCING ACTIVITIES: Short-term loans payable, net 244 1,397 2,371 Proceeds from long-term loans payable 4, ,323 Repayment of long-term debt (1,054) (1,444) (10,244) Repayment of obligations under finance lease (190) (302) (1,844) Proceeds from share issuance to minority shareholders 151 1,465 Cash dividends paid (759) (802) (7,373) Cash dividends paid to minority shareholders (369) (756) (3,588) Other net (1) (4) (5) Net cash provided by (used in) financing activities 2,481 (1,049 ) 24,105 FOREIGN CURRENCY TRANSLATION ADJUSTMENTS ON CASH AND CASH EQUIVALENTS 1,557 2,347 15,122 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3, ,249 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 24,467 23, ,726 CASH AND CASH EQUIVALENTS OF NEWLY CONSOLIDATED SUBSIDIARIES, BEGINNING OF YEAR ,145 INCREASE IN CASH AND CASH EQUIVALENTS RESULTING FROM MERGER 213 INCREASE (DECREASE) IN BEGINNING BALANCE OF CASH AND CASH EQUIVALENTS DUE TO CHANGES IN FISCAL PERIODS OF CONSOLIDATES SUBSIDIARIES (313) (3,037) CASH AND CASH EQUIVALENTS, END OF YEAR 27,694 24,467 $ 269,083 See notes to consolidated financial statements.