Finalcial Highlights - Emachu Holdings

Brief of Balance Sheet

As of March 31,2011	Millions of yen
Assets
Current assets:	13,397
Cash and deposit	10,961
Accounts receivable	7
Inventories	23
Short-term loan	1,958
Others	448
Fixed assets:
Tangible assets:	15,784
Buildings and Structures	5,642
Machinery, Equipments,	432
Land	9,594
Growing trees	116
Intangible fixed assets:	12
Investments and other assets:	3,501
Investment securities	1,536
Investments in affiliates	1,268
Insurance reserve	239
Others	458
Total assets	32,694
Liabilities
Current liabilities:	3,830
Accounts payable	3
Short-term borrowings	1,800
Long term borrowings
due within one year	908
Accured expenses and
other accounts payable	108
Income and Consumption
taxes payable	448
Others	563
Fixed liabilities:	9,982
Long term borrowing	4,228
Garanty money received	5,614
Others	140
Total liabilities	13,812
Net assets
Stockholders' equity:	18,821
Common stock	480
Retained earnings	21,509
Treasury stock	△ 3,168
Accumulated gains from
revaluation and translation
adjustments:	61
Total net assets	18,882
Total liabilities and Net assets	32,694

for the years ended March 31,2011	Millions of yen
Operating revenue:	4,261
Income from real estate business	4,097
Sales of goods	164
Operating expenses:	1,039
Cost of real estate business	963
Cost of goods sold	76
Gross profit	3,222
Selling, General & Administrative expenses	721
Operating income	2,501
Non operating income	127
Non operating expenses	307
Ordinary income	2,321
Extraordinary profit	72
Extraordinary loss	490
Income before income taxes	1,903
Current Income taxes	959
Deferred income taxes	△ 92
Net income	1,036