Tomoegawa Paper Co., Ltd. reported consolidated earnings results for the year ended March 31, 2012. For the year, the company reported revenue of JPY 34,699 million, operating income of JPY 297 million, recurring income of JPY 282 million and net income of JPY 189 million or JPY 3.71 per share as compared to revenue of JPY 41,626 million, operating income of JPY 2,581 million, recurring income of JPY 2,484 million and net income of JPY 1,725 million or JPY 33.82 per share for the same period a year ago. The decrease in revenue was caused by accounting change; the sales from joint venture with TOPPAN PRINTING CO., LTD. that produces optic film for liquid crystal display was transferred to TOPPAN, and started receiving profit in the form of royalty. Net asset per share as at March 31, 2012 was JPY 222.38 compared to JPY 223.72 a year ago. The company provided earnings guidance for the second half and full year ending March 31, 2013. For the second half of fiscal 2013, the company expects revenue of JPY 17,500 million, operating income of JPY 150 million, recurring income of JPY 150 million and net income of JPY 50 million or JPY 0.98 per share. For the year ending March 31, 2013, the company expects revenue of JPY 36,000 million, operating income of JPY 700 million, recurring income of JPY 700 million and net income of JPY 450 million or JPY 8.82 per share. For the full year 2014, ending March 31, 2015, the group aims at sales revenue of more than JPY 42,000 million, and an operating profit margin of 6.4%, a company record, by realizing a large increase of overseas sales and overseas production, as well as increased contributions from new businesses.