Autobacs Seven Co., Ltd. announce that its Board of Directors at a meeting held resolved to submit the agenda item partial amendments to the Articles of Incorporation to the 66th Ordinary General Meeting of Shareholders scheduled for June 25, 2013. Partial amendment to the Articles of Incorporation in conjunction with the addition of a business purpose.

Autobacs Seven Co., Ltd. reported consolidated and non-consolidated earnings results for the year ended March 31, 2013. For the period, on consolidated basis, the company reported net sales of JPY 230,168 million against JPY 237,342 million for the same period in the last year. Operating income was JPY 12,745 million against JPY 13,720 million for the same period in the last year. Ordinary income was JPY 14,472 million against JPY 15,307 million for the same period in the last year. Net income was JPY 7,590 million against JPY 8,402 million for the same period in the last year. Basic net income per share was JPY 81.22 against JPY 84.28 for the same period in the last year. Net cash provided by operating activities was JPY 10,741 million against JPY 20,844 million for the same period in the last year. Income before income taxes and minority interests was JPY 13,915 million against JPY 15,217 million for the same period in the last year. Payment for tangible and intangible fixed assets was JPY 6,248 million against JPY 7,690 million for the same period in the last year. On non-consolidated basis, sales decreased 4.2% year on year, to JPY 187,298 million. In wholesale operations for franchise chain outlets, sales of car interior merchandise, tires and wheels, and car exterior merchandise increased, while sales of car electronics declined significantly. As a result, sales fell 4.5% compared to the previous fiscal year. In retail operations, sales decreased 1.6% year on year, mainly reflecting the significant effects of sluggish sales of car electronics, offsetting higher vehicle sales. Operating income increased 1.1% year on year, to JPY 13,735 million. The company declared a year-end dividend of JPY 81.00 per share for the year ended March 31, 2013 against JPY 75.00 per share for the same period in the last year. Thus the total dividend would amount to JPY 156.00 per share against JPY 145.00 per share for the same period in the last year. The company expects to pay a second quarter dividend of JPY 27.00 per share for the fiscal 2014 against JPY 75.00 per share for the same period in the last year. The company expects to pay a year-end dividend of JPY 27.00 per share for the year ending March 31, 2014 against JPY 81.00 per share for the same period in the last year. Thus the total dividend would amount to JPY 54.00 per share against JPY 156.00 per share for the same period in the last year. The company provided consolidated earnings guidance for the first half year and full year of fiscal 2014. For the first half year, the company expects net sales of JPY 111,600 million, operating income of JPY 4,600 million, ordinary income of JPY 5,100 million, net income of JPY 2,500 million and net income per basic share of JPY 27.02. For the year ending March 31, 2014, the company expects net sales of JPY 237,000 million, operating income of JPY 13,500 million, ordinary income of JPY 14,600 million, net income of JPY 8,200 million and net income per basic share of JPY 88.63.

Autobacs Seven Co., Ltd., 2013 Earnings Call, May 10, 2013