ZAPPALLAS, INC.

Four-year Summary of Selected Financial Data (Consolidated)

FY4/2006 FY4/2007 FY4/2008 FY4/2009

(thousands of yen, except per share amounts)
Financial indicators:
Net sales ¥5,319,114 ¥6,939,474 ¥8,550,993 ¥10,308,364
Ordinary income 752,374 1,252,762 1,882,519 2,695,847
Net income 444,037 664,753 1,027,815 1,580,863
Net assets 3,492,284 4,119,995 4,979,686 6,276,215
Total assets 4,697,108 5,508,910 6,705,252 8,148,283
Net assets per share (yen) 55,420.27 31,729.79 37,779.69 46,995.21
Net income per share (yen) 7,455.33 5,244.65 7,925.42 11,966.45
Diluted net income per share (yen) 6,371.20 4,914.13 7,576.47 11,610.25
Cash flows from operating activities 473,765 859,343 1,243,778 1,671,147
Cash flows from investing activities (1,125,182) (318,018) (651,155) (213,917)
Cash flows from financing activities 1,533,958 (69,429) (154,233) (293,538)
Cash and cash equivalents at end of period 1,970,070 2,441,966 2,880,355 4,044,047

FY4/2006 FY4/2007 FY4/2008 FY4/2009

(thousands of U.S. dollars, except per share amounts)
Financial indicators:
Net sales $46,496 $57,925 $82,111 $105,424
Ordinary income 6,577 10,457 18,077 27,571
Net income 3,881 5,549 9,870 16,168
Net assets 30,527 34,391 47,817 64,187
Total assets 41,059 45,984 64,387 83,333
Net assets per share (U.S. dollars) 484.00 265.00 363.00 481.00
Net income per share (U.S. dollars) 65.00 44.00 76.00 122.00
Diluted net income per share (U.S. dollars) 56.00 41.00 73.00 119.00
Cash flows from operating activities 4,141 7,173 11,943 17,091
Cash flows from investing activities (9,836) (2,655) (6,253) (2,188)
Cash flows from financing activities 13,409 (580) (1,481) (3,002)
Cash and cash equivalents at end of period 17,221 20,384 27,658 41,359

FY4/2006 FY4/2007 FY4/2008 FY4/2009

Key ratios:
Shareholders’ equity ratio 74.3% 74.0% 73.8% 76.6%
Return on equity (ROE) 17.9% 17.6% 22.8% 28.3%
Price earnings ratio (PER) 51.4 21.5 33.4 17.0
Other statistics:
Number of employees 100 126 139 171

Note:
U.S. dollar amounts are translated from Japanese yen, for readers’ convenience only, at the exchange rate per U.S. dollar
as described below; the approximate exchange rates of TTM of Bank of Tokyo-Mitsubishi UFJ, Ltd. on April 28, 2006;
April 27, 2007; April 30, 2008 and April 30, 2009.
FY4/2006: U.S.$1.00 = 114.40 yen on April 28, 2006
FY4/2007: U.S.$1.00 = 119.80 yen on April 27, 2007
FY4/2008: U.S.$1.00 = 104.14 yen on April 30, 2008
FY4/2009: U.S.$1.00 = 97.78 yen on April 30, 2009
 ZAPPALLAS, INC.

Net sales Net assets per share

12,000 60,000.00
10,000 50,000.00
(millions of yen)

8,000 40,000.00

(yen)
6,000 30,000.00
4,000 20,000.00
2,000 10,000.00
0 0.00
FY4/2006 FY4/2007 FY4/2008 FY4/2009 FY4/2006 FY4/2007 FY4/2008 FY4/2009

Ordinary income Net income per share and

3,000
Diluted net income per share
15,000.00
2,500
(millions of yen)

2,000 10,000.00
1,500

(yen)
1,000 5,000.00
500
0.00
0 FY4/2006 FY4/2007 FY4/2008 FY4/2009
FY4/2006 FY4/2007 FY4/2008 FY4/2009 Net income per share (yen) Diluted net income per share (yen)

Net income Cash flows

2,000 2,000
(millions of yen)

(millions of yen)

1,500 1,000

1,000 0
FY4/2006 FY4/2007 FY4/2008 FY4/2009
-1,000
500
-2,000
0
Cash flows from operating activities Cash flows from investing activities
FY4/2006 FY4/2007 FY4/2008 FY4/2009 Cash flows from financing activities

Net assets Shareholders’ equity ratio

7,000 77.0%
6,000
(percentage)
(millions of yen)

76.0%
5,000
4,000 75.0%
3,000 74.0%
2,000
1,000 73.0%
0 72.0%
FY4/2006 FY4/2007 FY4/2008 FY4/2009 FY4/2006 FY4/2007 FY4/2008 FY4/2009

Total assets Return on equity (ROE)

10,000 30.0%
(millions of yen)

8,000 25.0%
(percentage)

6,000 20.0%
15.0%
4,000
10.0%
2,000
5.0%
0 0.0%
FY4/2006 FY4/2007 FY4/2008 FY4/2009 FY4/2006 FY4/2007 FY4/2008 FY4/2009