Non-Consolidated Financial Statements

Non-Consolidated Balance Sheets

ASSETS	Millions of yen		Thousands of U.S. dollars (Note)
As of October 31, 2011 and 2010	2010	2011	2011
Current assets :
Cash and time deposits	¥ 18,067	¥ 17,761	$ 228,437
Notes receivable, trade	2,044	2,226	28,630
Accounts receivable, trade	10,289	11,540	148,424
Marketable securities	350	350	4,502
Merchandise inventories and products	303	261	3,357
Raw material and supplies	85	86	1,106
Deferred income taxes	323	355	4,566
Other current assets	1,457	2,303	29,621
Less : Allowance for doubtful accounts	(254)	(222)	(2,855)
Total current assets	32,664	34,660	445,788
Property and equipment :
Rental equipment	49,931	58,592	753,595
Buildings	14,490	14,585	187,588
Structures	4,887	4,840	62,251
Machinery and equipment	5,975	5,935	76,334
Less : Accumulated depreciation	(47,439)	(51,142)	(657,775)
	27,844	32,810	421,993
Land	28,440	28,651	368,502
Construction in progress	0	2	26
Total property and equipment	56,284	61,463	790,521
Investments and other assets :
Investment securities
-Unconsolidated subsidiaries and affiliates	3,556	3,462	44,527
-Others	2,597	2,933	37,723
Deferred income taxes	1,057	451	5,801
Other assets	3,384	3,198	41,132
Less : Allowance for doubtful accounts	(1,812)	(1,588)	(20,424)
Total investments and other assets	8,782	8,456	108,759
Total assets	¥ 97,730	¥ 104,579	$ 1,345,068

LIABILITIES AND NET ASSETS	Millions of yen		Thousands of U.S. dollars (Note)
As of October 31, 2011 and 2010	2010	2011	2011
Current liabilities :
Short-term bank loans	¥ 12,000	¥ 10,000	$ 128,617
Current portion of long-term bank loans	9,089	9,411	121,042
Notes payable, trade	8,988	9,115	117,235
Accounts payable, trade	2,483	2,700	34,727
Notes payable, other	263	292	3,756
Accounts payable, other	4,637	6,345	81,608
Accrued bonuses	501	443	5,698
Allowance for disaster losses	—	290	3,730
Other current liabilities	1,899	793	10,198
Total current liabilities	39,860	39,389	506,611
Non-current liabilities :
Long-term bank loans	12,349	15,648	201,260
Long-term accounts payable, other	6,875	11,282	145,106
Accrued pension and severance costs	1,335	30	386
Asset retirement obligations	—	123	1,582
Other liabilities	221	195	2,509
Total non-current liabilities	20,780	27,278	350,843
Contingent liabilities
Net assets :
Common stock :
Authorized – 130,000,000 shares (2011/2010)
Issued – 32,872,241 shares (2011/2010)	9,697	9,697	124,720
Capital surplus	10,961	10,961	140,977
Retained earnings	16,303	17,080	219,678
Treasury stock	(25)	(25)	(322)
Net unrealized holding gain on other securities	154	199	2,561
Total net assets	37,090	37,912	487,614
Total liabilities and net assets	¥ 97,730	¥ 104,579	$ 1,345,068

Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥77.75=US$1, the approximate exchange rate on October 31, 2011.

Non-Consolidated Statements of Income

	Millions of yen		Thousands of U.S. dollars (Note)
Years ended October 31, 2011 and 2010	2010	2011	2011
Revenue
Rentals	¥ 39,481	¥ 43,790	$ 563,216
Sales	18,603	17,117	220,154
	58,084	60,907	783,370
Cost of sales
Rentals	28,597	30,948	398,045
Sales	13,360	13,324	171,370
	41,957	44,272	569,415
Gross profit	16,127	16,635	213,955
Selling, general and administrative expenses	13,589	13,816	177,698
Operating income	2,539	2,819	36,257
Other income (expenses) :
Interest and dividend income	74	86	1,106
Gain on termination of retirement benefit plan	—	1,465	18,843
Interest expenses	(432)	(450)	(5,788)
Loss on devaluation of investment securities	(20)	(134)	(1,723)
Loss from disaster	—	(838)	(10,778)
Loss on adjustment for changes of			0
accounting standard for asset retirement obligations	—	(83)	(1,068)
Others, net	15	(110)	(1,415)
Income before income taxes	2,176	2,755	35,434
Income taxes :
Current	1,032	778	10,006
Deferred	111	544	6,997
	1,143	1,322	17,003
Net income	¥ 1,033	¥ 1,433	$ 18,431

	Yen		U.S. dollars (Note)
Years Ended October 31, 2011 and 2010	2010	2011	2011
Per share of common stock :
Net income
Basic	¥ 31.45	¥ 43.65	$ 0.56
Diluted	—	—	—
Cash dividends applicable to the year	20.00	20.00	0.26

Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥77.75=US$1, the approximate exchange rate on October 31, 2011.

Non-Consolidated Statements of Shareholders' Equity
(November 1. 2010 - October 31, 2011)

		Millions of yen
Years Ended October 31, 2011 and 2010	Thousands of shares of common stock	Common stock	Capital surplus	Retained earnings	Treasury stock	Net unrealized holding gain (loss) on other securities	Total net assets
Balance at October 31, 2009	¥ 32,872	¥ 9,697	¥ 10,961	¥ 15,927	(24)	234	¥ 36,795
Net income				1,033			1,033
Cash dividends				(657)			(657)
Acquisition of treasury stock					(1)		(1)
Other						(80)	(80)
Balance at October 31, 2010	32,872	9,697	10,961	16,303	(25)	154	37,090
Net income				1,433			1,433
Cash dividends				(656)			(656)
Acquisition of treasury stock					(1)		(1)
Disposal of treasury stock			(0)		1		1
Other						45	45
Balance at October 31, 2011	¥ 32,872	¥ 9,697	¥ 10,961	¥ 17,080	¥ (25)	¥ 199	¥ 37,912

	Thousands of U.S. dollars (Note)
Year Ended October 31, 2011	Common stock	Capital surplus	Retained earnings	Treasury stock	Net unrealized holding gain on other securities	Total net assets
Balance at October 31, 2010	$ 124,720	$ 140,977	$ 209,685	$ (322)	$ 1,981	$ 477,041
Net income			18,431			18,431
Cash dividends			(8,438)			(8,438)
Acquisition of treasury stock				(13)		(13)
Disposal of treasury stock		(0)		13		13
Other					580	580
Balance at October 31, 2011	$ 124,720	$ 140,977	$ 219,678	$ (322)	$ 2,561	$ 487,614

Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥77.75=US$1, the approximate exchange rate on October 31, 2011.