ISHIHARA SANGYO KAISHA : Summary of Consolidated Financial Statements for 2Q of Fiscal Year Ending March 31, 2018(Japan GAAP)

Summary of Consolidated Financial Statements for Second Quarter of Fiscal Year Ending March 31, 2018(Japan GAAP)

Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.

Code: 4028 URL http://www.iskweb.co.jp Representative: (Title) Executive Director President (Name) Kenichi Tanaka

November 10, 2017 Listed Exchanges: TSE

Contact: (Title) Managing Executive Officer (Name) Yasunobu Kawazoe Tel [phone] Scheduled date of securities report submission: November 13, 2017

Scheduled date of dividend payment commencement: -

(Any amount less than one million yen is rounded down to the nearest million yen or nil.)

1. Consolidated Financial Results for Second Quarter of Fiscal Year Ended March 31, 2018(April 1, 2017 to September 30, 2017)

2. Consolidated Operating Results

   Net sales		Operating income		Ordinary income		Net income
   2Q, 2017	millions of yen	%	millions of yen	%	millions of yen	%	millions of yen	%  
   	52,904	3.3	3,858	110.6	3,380		2,446
   2Q, 2016	51,211	-3.1	1,831	-47.5	3	-99.9	-794

   (Percentages represent changes from same period in previous year.)

   ―

   (Note) Comprehensive income: as of September 30, 2017: 2,904million yen(  %),

   as of September 30, 2016: -2,380million yen (  %)

   Net income per share	Net income per share after full dilution
   2Q, 2017 2Q, 2016	Yen 61.20 -19.85	Yen  

   (Note) 1.Year-on-year increase percentage of ordinary income for the 2nd quarter of FY 2017 is indicated as " is in excess of 1,000%.

   " because the figure

3. Effective October 1, 2016, the Company consolidated its common shares at the ratio of 10 shares to 1 share. Accordingly,

4. net income per share has been calculated as if the said share consolidation was conducted at the beginning of the previous fiscal year.

   (2) Consolidated Financial Position

   Total assets	Net assets	Capital adequacy ratio
   2Q, 2017	millions of yen	Millions of yen	%
   	164,047	69,471	42.3
   Year ended March 31, 2017	159,856	66,571	41.6

   (Reference) Equity capital: as of September 30, 2017: 69,471million yen, as of March 31, 2017: 66,571 million yen

5. Dividends

   Dividends per share
   (Record date)	June 30 (Q1-end)	September 30 (Q2-end)	December 31 (Q3-end)	March 31 (Year-end)	Annual
   Year ended March 31, 2017 Year ended March 31, 2018	Yen  	Yen 0.00 0.00	Yen 	Yen 0.00	Yen 0.00
   Year ending March 31, 2018 (Forecast)		0.00	0.00

   (Note) Modification in the dividend forecast for current quarter: No modification

6. Forecast for Consolidated Results for the Full Year Ending March 31, 2018 (April 1, 2017 - March 31, 2018)

   (Percentages represent forecasted changes from the previous year for the full year results, and forecasted changes from the same period in the previous year for the interim results.)

   Net sales		Operating income		Ordinary income		Net income		Earnings per share
   Full year	millions of yen 107,000	% 5.3	millions of yen 9,200	% 9.3	millions of yen 8,600	% 18.1	millions of yen 6,500	% 26.8	Yen 162.61

   (Note) Modification in the dividend forecast for current quarter: Modified

7. Other information

8. Significant changes in subsidiaries during the period

   (changes in specified subsidiaries resulting in the change in consolidation scope): No change

9. Adoption of simplified accounting treatment and special accounting treatment for quarterly consolidated statement: Not adopted

10. Changes in accounting principles, procedures, and the method of presentation

11. Changes due to revisions of accounting standards etc. : Not adopted

12. Changes other than those defined in 1) above : Not adopted

13. Changes in accounting procedures : Not adopted

14. Changes in the method of presentation : Not adopted

15. Issued shares (common shares)

16. Issued shares as of period-end (including repurchased treasury shares)

    As of September 30, 2017: 40,383,943 shares As of March 31, 2017: 40,383,943 shares

17. Number of shares of treasury stock as of period-end

    As of September 30, 2017: 412,632 shares As of March 31, 2017: 409,374 shares

18. Average number of outstanding shares during period

    2Q 2017:39,973,065 shares 2Q 2016:39,981,325 shares

    * Effective October 1, 2016, the Company consolidated its common shares at the ratio of 10 shares to 1 share. Accordingly, net income per share has been calculated as if the said share consolidation was conducted at the beginning of the previous fiscal year.

    *Quarterly financial results are outside the scope of quarterly review.

    *Notes on proper use of forecast and other matters

    The forecast of financial results presented in this document is the result of management's assessment based upon currently available assumptions, prospects and plans for the future. Actual results and dividend payments may differ from these forecasts, due to risks and uncertain factors, such as the global economy, competition, and foreign currency fluctuations.

19. Consolidated Financial Statements, and Main Notes

20. Consolidated Balance Sheet

21. (Unit: millions of yen)

    Account Category	As of March,2017 (summary)	As of September 2017
    ASSETS Current Assets Cash and deposits Notes and accounts receivable - trade Merchandise and finished goods Work in process Raw materials and supplies Deferred tax assets Other Allowance for doubtful accounts Total current assets Non-current assets Property, plant and equipment Machinery and equipment, net Others, net Total property, plant and equipment Intangible assets Investments and other assets Investment securities Deferred tax assets Net defined benefit asset Other Allowance for doubtful accounts Total investments and other assets Total non-current assets Total Assets	28,346	31,689
    	25,407	29,947
    	30,242	27,231
    	3,932	5,196
    	12,930	11,741
    	1,431	1,287
    	1,901	2,295
    	-194	-288
    	103,997	109,102
    	17,171	17,491
    	22,011	20,662
    	39,183	38,154
    	181	299
    	6,785	6,933
    	7,944	8,028
    	16	16
    	1,914	1,650
    	-167	-136
    	16,493	16,492
    	55,858	54,945
    	159,856	164,047

    (Unit: millions of yen)

    Account Category	As of March,2017 (summary)	As of September 2017
    LIABILITIES Current Liabilities Notes and accounts payable - trade Short-term loans payable Current portion of bonds Income taxes payable Provision Other Total current liabilities Non-current liabilities Bonds payable Long-term loans payable Provision Net defined benefit liability Other Total non-current liabilities Total Liabilities NET ASSETS Shareholders' equity Capital stock Capital surplus Retained earnings Treasury shares Total shareholders' equity Accumulated other comprehensive income Valuation difference on available-for-sale securities Deferred gains or losses on hedges Foreign currency translation adjustment Remeasurements of defined benefit plans Total accumulated other comprehensive income Total net assets Total Liabilities and Net Assets	10,341 27,139 280 743 1,048 7,757	18,036 24,932 280 630 1,062 8,904
    	47,310	53,846
    	280 27,500 1,116 12,602 4,473	140 22,058 1,209 12,665 4,656
    	45,974	40,729
    	93,284	94,575
    	43,420 10,626 15,188 -709	43,420 10,626 17,634 -712
    	68,526	70,969
    	565 -0 -1,975 -545	747 0 -1,734 -510
    	-1,955	-1,497
    	66,571	69,471
    	159,856	164,047