Cleanup Corporation
Tokyo Stock Exchange,
1st Section, Code 7955
Announcement of FY 2009
Interim Results
November 16, 2009
Net Sales
Operating
Income
Ordinary
Income
Interim
Net Income
Interim Net Income Per Share
48,482
1,362
1,278
1,134
24.10 yen
2009/9
(Actual Results)
51,000
350
300
0
0.00 yen
2009/9
(Initial Plan)
△ 10.5 ％
－ ％
Change From Prev. Period
Compared To Revised Plan
△ 4.9 ％
289.1 ％
326.0 ％
－ ％
－ ％
－ ％
－ ％
－ ％
2008/9
(Actual Results)
54,193
△ 606
△ 652
△ 1,020
△ 20.91 yen
1. Outl i ne of Consol i dated Resul ts for Inter i m Per i od Ended Septem ber 2009
(Units: millions of yen)
＊Initial Plan: Announced May 11, 2009
0
2008/9 2009/9
Net Sales
Cost of Sales
Gross Profit
48.48
31.66
16.81
（ 34.7 ）
（ 65.3 ）
Cost of Sales Ratio
△ 5.71 billion yen
△ 4.53 billion yen
△ 1.5 ％
△ 1.17 billion yen
54.19
36.20
17.98
（ 33.2 ）
（ 66.8 ）
2. Consol i dated Pr ofi ts ① Net Sal es, Gr oss Pr ofi t
(Units: billions of yen) 【Increased/Decreased Values (Rates)】 【Main Increase/Decrease Factors】
● System Kitchens △3.57 billion yen ・ＳＳ △1.23 billion yen ・CLEANLADY △2.63 billion yen Growth seen in RAKUERA
● System Bathrooms
△1.10 billion yen
● Decrease Due to Decreased Earnings
△3.81 billion yen
● Decrease Due to Decreased Cost of Sales Ratio △0.72 billion yen
●Increase in System Bathroom Cost Ratio ＋0.3 points
● Sales Route Distribution Ratio △0.2 points
● Decrease in Cost of Raw Materials △0.8 points
● Cost Decrease △0.8 points
●Decrease Due to Decreased Earnings
△1.89 billion yen
● Increase in Gross Profit Ratio 0.72 billion yen
Gross Profit
SGA Expenses
Operating Income
16.81
15.45
1.36
（ 2.8 ）
（ 31.9 ） SGA Ratio
△ 1.17 billion yen
△ 3.14 billion yen
△ 2.4 ％
＋ 1.96 billion yen
17.98
18.59
△ 0.60
（△ 1.1 ）
（ 34.3 ）
2. Consol i dated Pr ofi ts ② SGA Expenses, Oper ati ng Inc om e
(Units: billions of yen)
【Increased/Decreased Values (Rates)】
●Sales Expenses △0.67 billion yen
●Distribution Expenses △0.32 billion yen
●Personnel Expenses △1.04 billion yen
●Administrative Expenses △1.09 billion yen
●Sales Expenses △1.0 points
●Personnel Expenses △0.5 points
●Administrative Expenses △0.9 points
●Change in Gross Profit △1.17 billion yen
●Change in SGA Expenses ＋3.14 billion yen
【 Main Increase/Decrease Factors 】
2008/9 2009/9 2009/3 2010/3
41,190 10,721 2,282
77,146 17,714
4,140
85,131 19,615 4,459
36,993 9,480 2,008
0 20,000 40,000 60,000 80,000 100,000 120,000
Other
Bathtubs & Washstands Kitchen Equipment
77.9％ 17.9％
4.2％
54,193
109,205
【 2008/9 】
76.0 ％
19.8 ％
4.2 ％
Ki tc hen Equi pment Bathtubs &
Washstands
Other
【 2009/9 】
76.3 ％
19.6 ％
4.1 ％
Ki tc hen Equi pment Bathtubs &
Washstands
Other
48,482
77.9％ 18.0％
4.1％ 99,000
3. Sal es Com posi ti on ① By Segm ent (Consol i dated)
(Units: millions of yen)
(Current Interim Period) （Term-End Forecast）
2007/9 2008/9 2009/9
0
Di rect-Sales (Condomi ni um owners) Housi ng Constructors
General Routes (Constructi on Contractors - Home Renovati on)
2008/3 2009/3 2010/3
0
78.9％ 16.1％
5.0％ 72.0
％
73.6％
17.1％ 17.1％
10.9％ 9.3％
75.5％ 18.1％
6.4％ 76.3％
15.9％ 7.8％
76.4％ 17.6％ 6.0％
3. Sal es Com posi ti on ② By Sal es Route (Non-Consol i dated)
【First-Half Base】
【Full-Term Base】
(Current Interim Period) （Term-End Forecast）
29.64 28.24 27.74
5.38 4.84
3.20 3.94
39.88
39.26 39.36
6.56 4.71
0
2008/9 2009/3 2009/9
Total Assets
Cash and Deposits Notes and Accounts Receivable
Inventory
Fixed Assets
△ 0.20 billion yen
＋ 0.09 billion yen
＋ 0.74 billion yen
△ 0.49 billion yen
●Negotiable Securities
△0.49 billion yen
△ 0.53 billion yen
Other Current Assets
(Units: billions of yen)
【Increased/Decreased Values】
4. Consol i dated Bal anc e Sheet Sum m ar y – 1/ 2
【 Main Increase/Decrease Factors 】
●Current Assets ＋0.29 billion yen
●Fixed Assets △0.49 billion yen
●Cash and Deposit ＋1.84 billion yen
●Notes and Accounts Receivable
△1.75 billion yen
●Increase in Direct-Sales Inventory (Condominiums)
●Tangible Fixed Assets
△0.48 billion yen
●Intangible Fixed Assets (Software) △0.25 billion yen
●Securities Investments
＋0.48 million yen
75.90
76.10
80.81
【 Assets 】
Current Assets
54.33
51.26 51.67
6.06
6.00 6.77
20.41
18.83 17.44
0. 00
2008/9 2009/3 2009/9
Current Liabilities
Total Assets
△ 1.38 billion yen
＋ 0.77 billion yen
＋ 0.41 billion yen
Long-Term Liabilities
4. Consol i dated Bal anc e Sheet Sum m ar y – 2/ 2
(Units: billions of yen)
【 Increased/Decreased Values 】
【 Main Increase/Decrease Factors 】
●Accounts Payable △0.22 billion yen
●Short-Term Debt △1.19 billion yen
●Other Accounts Payable △0.82 billion yen
●Advance Receipts ＋0.83 billion yen
●Long-Term Debt ＋0.54 billion yen
●Accrued Retirement Benefits ＋0.19 billion yen
●Retained Earnings ＋0.89 billion yen
●Treasury Shares △0.59 billion yen
● Unrealized Gain on Securities
＋0.10 billion yen
75.90
76.10
80.81
【Liabilities･Minority Interests・Assets】
5. Consol i dated Cash Fl ow Statem ent Sum m ar y
1.14
3.69
△ 1 . 1 7 △ 0 . 9 7
0.14
△ 1 . 0 7 16.47
18.32
△ 5. 00 0. 00 5. 00 10. 00 15. 00 20. 00
Cash Flow from Operating Activities Cash Flow from Investing Activities
Cash Flow from Financing Activities Interim (Year-End) Cash & Cash Equivalents Balance
2008/9 2009/9
＋ 0.20
＋ 1.64
16.67
（2009/3）
＋ 2.54
△ 1.22
(Units: billions of yen)
Compared to Year-End Balance
2008/9 2009/9 2009/3 2010/3
0.62 1.71
2.00
3.65
2.25
1.20 4.13 3.78
1.27
0.54 1.23
1.77
0.00 1.00 2.00 3.00 4.00 5. 00
R&D Costs
Capital Investment
Deprecation Costs
First-Half Results
Second-Half Plans
(Units: billions of yen)
6 ． Capi tal Investm ents (Consol i dated)
(Current Interim Period) （Term-End Forecast）
【FY2009 Major Capital Investment Details】
① Dies for New Products
0.27 billion yen
②Showroom Models, etc.
0.68 billion yen
③ Information Investment
0.22 billion yen
① Production-Related
0.14 billion yen
② Operations-Related
0.60 billion yen
③ Information-Related
0.16 billion yen
Net Sales
Operating
Income
Ordinary
Income
Interim
Net Income
Interim Net Income
Per Share
46,803
1,016
1,165
1,109
23.57 yen
2009/9
(Actual Results)
49,500
150
300
50
1.04 yen
2009/9
(Initial Plan)
△ 10.6 ％
－ ％
Change From Prev. Period
Compared To Revised Plan
△ 5.4 ％
577.3 ％
288.3 ％
2119.3 ％
－ ％
＊Initial Plan: Announced May 11, 2009
－ ％
－ ％
－ ％
2008/9
(Actual Results)
52,341
△ 899
△ 706
△ 950
△ 19.48 yen
(Unit: millions of yen)
7. Outl i ne of Non-Consol i dated Resul ts for Inter i m Per i od Ended Septem ber 2009
2008/9 2009/9 2009/3 2010/3
37,516 8,395
2,326 963 3,141
68,842 13,207
4,507 1,485 7,459
75,732 14,904
4,711 1,774 8,501
33,819 7,279
2,202 613 2,890
0 20,000 40,000 60,000 80,000 100,000 120,000
Other
Industrial Kitchen Equipment Washstands
Bathrooms
Kitchen Equipment
52,341
（Term-End Forecast） (Current Interim Period)
71.7％ 14.1％
4.5％
46,803
105,622
【 2008/9 】
71.7％ 16.0％ Ki tc hen Equi pment Bathr ooms
Other
【 2009/9 】
1.7％ 8.0％
Washstands Industr i al
Ki tc hen Equi pment
4.4％
72.3％ 15.6％
Ki tc hen Equi pment Bathr ooms
Other
Washstands Industr i al
Ki tc hen Equi pment
4.7％
6.0％ 1.8％
6.2％ 1.3％
72.1％ 13.8％
4.7％ 1.6％ 7.8％
95,500
8. Non-Consol i dated Sal es Com posi ti on by Segm ent
(Unit: millions of yen)
1,1311,1861,181
1,2471,228
1,138
480 15.9 16.3 17.4 17.5 17.0
15.2 15.2
0 200 400 600 800 1,000 1,200 1,400
04/3 05/3 06/3 07/3 08/3 09/3 09/9 0.0 5.0 10.0 15.0 20.0 25.0 30.0 Demand Volume Cleanup Share
74.2
83.4 82.7 82.1
72.5 70.8
64.1 173 162
186.5 211.5
207 206
184
0 20 40 60 80 100
04/3 05/3 06/3 07/3 08/3 09/3 10/3 0 50 100 150 200 250 300 Monetary Value Volume
Complete System Kitchen Sales Results
（％）
Demand Trends and Market Share
9. Sal es Resul ts for Maj or Pr oduc ts and Cl eanup Mar ket Shar e - 1/ 4
(Billions of yen) (Thousands
of Sets)
(Planned) (Current Interim Period)
(Thousands of Sets)
◆
31.4 76
Current Interim Period
547 559 546
515
438
402
191 15.2 14.7 15.1
13.4 14.5 13.3
14.8
0 200 400 600
04/3 05/3 06/3 07/3 08/3 09/3 09/9 0.0 5.0 10.0 15.0 20.0 25.0 30.0 Demand Volume Cleanup Share
7.2
6.5 6.2 6.1
5.5
5.0 4.7
61 59 65
73 75 74
81
0.0 2.0 4.0 6.0 8.0
04/3 05/3 06/3 07/3 08/3 09/3 10/3 0 30 60 90 120 Monetary Value Volume
Sectional System Kitchen Sales Results Demand Trends and Market Share
（％）
9. Sal es Resul ts for Maj or Pr oduc ts and Cl eanup Mar ket Shar e - 2/ 4
(Billions of yen)
(Thousands of Sets)
(Thousands of Sets)
(Planned) (Current Interim Period)
◆
2.4 29
Current Interim Period
645 667
770 767
333 718 695
5.4 4.4
4.9
4.2 4.2 4.2 4.3
0 200 400 600 800 1,000
04/3 05/3 06/3 07/3 08/3 09/3 09/9 0.0 2.0 4.0 6.0 8.0 10.0 Demand Volume Cleanup Share
16.3 15.9
15.1 14.8 14.9
14.5
12.8 27 30.5 30
32 33 32
35
0 5 10 15 20
04/3 05/3 06/3 07/3 08/3 09/3 10/3 0 10 20 30 40 50 Monetary Value Volume
Modular System Bathroom Sales Results Demand Trends and Market Share
（％）
9. Sal es Resul ts for Maj or Pr oduc ts and Cl eanup Mar ket Shar e - 3/ 4
(Planned) (Current Interim Period)
Note: Total number of companies increased from 11 to 15 in FY2005
(Billions of yen) (Thousands
of Sets)
(Thousands of Sets)
16.3 15.9
15.1 14.8 14.9
14.5
12.8 27 30.5 30
32 33 32
35
0 5 10 15 20
04/3 05/3 06/3 07/3 08/3 09/3 10/3 0 10 20 30 40 50 Monetary Value Volume
◆
7.1
15
Current Interim Period
1,813 1,786 1,844 1,834
1,750
1,637
726
6.2
5.2 5.6 5.4 5.3
5.7 5.5
0 400 800 1,200 1,600 2,000
04/3 05/3 06/3 07/3 08/3 09/3 09/9 0.0 2.0 4.0 6.0 8.0 10.0 Demand Volume Cleanup Share
5.3 5.3 5.2
5.1 5.0
4.7 4.5
91 92 96 91
99 100 103
0.0 1.0 2.0 3.0 4.0 5.0 6.0
04/3 05/3 06/3 07/3 08/3 09/3 10/3 0 30 60 90 120 150 Monetary Value Volume
Washstands/Vanities Demand Trends and Market Share
（％）
9. Sal es Resul ts for Maj or Pr oduc ts and Cl eanup Mar ket Shar e - 4/ 4
(Thousands of Sets)
(Thousands of Sets) (Billions of yen)
(Planned) (Current Interim Period)
2.2 45
◆
Current Interim Period
85 87
95 101 104
107 109 109 105 105
451 440 456
255
314
380
450
480 495
460
0 40 80 120 160 200 240
01/3 02/3 03/3 04/3 05/3 06/3 07/3 08/3 09/3 10/3
0 100 200 300 400 500 600 Number of Showrooms Number of Visitors
Prev. Interim Period 229 thousand groups
Current Interim Period 228 thousand groups
(-0.6%)
(Planned)
(Locations) (Thousands of groups)
10. Showr oom s and Vi si tor Num ber s
Operating
Income
109,205
△ 1,100
△ 1,163
△ 3,317
104,500
1,000
900
100
△ 1.0 ％
△ 1.1 ％
△ 3.0 ％
1.0 ％
0.9 ％
0.1 ％
Ordinary
Income
Net Income
Net Sales 99,000
1,000
900
300
2010/3
(Full-Term Forecast)
2009/3
(Actual Results)
2010/3
(Initial Plan)
△ 9.3 ％
－ ％
－ ％
－ ％
Change From Prev. Period
Operating Margin
Ordinary Income Margin
Net Income Margin
1.0 ％
0.9 ％
0.3 ％
-
-
-
△ 5.3 ％
－ ％
－ ％
200.0 ％
Compared to Plan
-
-
-
11. For ec ast Consol i dated Resul ts for the Per i od Endi ng Mar c h 2010
(Unit: millions of yen)
105,622
△ 1,751
△ 1,547
△ 3,131
101,000
550
650
50
△ 1.7 ％
△ 1.5 ％
△ 3.0 ％
0.5 ％
0.6 ％
0.0 ％
2010/3
(Full-Term Forecast)
2009/3
(Actual Results)
2010/3
(Initial Plan)
Change From Prev. Period
Compared to Plan
95,500
550
650
200
△ 9.6 ％
－ ％
－ ％
－ ％
0.6 ％
0.7 ％
0.2 ％
-
-
-
△ 5.4 ％
－ ％
－ ％
300.0 ％
-
-
-
Operating
Income
Ordinary
Income
Net Income
Net Sales
Operating Margin
Ordinary Income Margin
Net Income Margin
12. For ec ast Non-Consol i dated Resul ts for the Per i od Endi ng Mar c h 2010
(Unit: millions of yen)
1. Oper ati ng Envi r onm ent for FY2009
The kitchen equipment market, along with new home and renovation demand, continues to be
shaky, and a double-digit decrease in system kitchen shipments can be seen compared to the
same period of the previous year.
Economic Recession That Began Last Fall Continues
(Thousands of Homes) （％）
2009 2008
2. Basi c Managem ent Pol i c y for the Cur r ent Year
Tr ansfor mati on to a pr ofi t focus
● Thorough minimization of selling, general
and administrative expenses
● Strategic personnel allocation and
installation of posts
Secur i ng pr ofi t by addi ng val ue
1
2
● Creating added value within core products
● Creating added value from a standpoint
nearer to the consumer
Sales expense reductions
＋ 0.67
Distribution expense reductions
＋ 0.32
Personnel expense reductions
＋ 1.04
Administrative expense reductions
＋ 1.09
1.5 pt. cost ratio reduction
＋ 0.72
3. Basi c Managem ent Pol i c y – Devel opm ent of ①
Transformation to a
profit focus
● Thorough minimization of SGA expenses
● Strategic personnel allocation and
post installation
1
△ 0.60
＋ 1.36
2nd Quarter
Totals
(Prev. Year)
Operating
Loss
2nd Quarter
Totals
Operating
Income
Loss due to reduced
net sales
△ 1.89
(Units: billion yen)Profitability Improvement Factors
【 Major Efforts in the First Half 】
4. Basi c Managem ent Pol i c y – Devel opm ent of ②
Securing profit by
adding value
●Creating added value within core products
●Creating added value from a standpoint nearer to that of the customer
2
● Complete renewal of mid-level/luxury “CLEANLADY” system kitchen line
● Complete renewal of “COLTY” compact system kitchen line
● Roll out of new “Tiaris” bathroom vanity series
Product Development
Communication Measures
● Launch of brand magazine “Smile !dea”, etc.
5. Str engtheni ng System Ki tc hen Pr oduc ts
【NEW BRAND STATEMENT】
Let’s Make Smiles,
Starting From the Kitchen
Strengthen the overall product lineup as “ The Kitchen Company ” by
means of innovation focused on core products
Low Price
Widespread Products
High-Value-Added Products
High Price
Popular System Kitchen
“RAKUERA”
On Sale March 2008
A branded product allowing consumers to experience Cleanup’s high-quality.
Company System Kitchen
“COLTY”
Full MC June 2009 Highly functional, stylish, product designed for urban life with limited space.
Mid/High-Quality System Kitchen
“CLEANLADY”
Products aimed at customers who want both financial savings and added value.
“CLEANLADY
Light Package”
On Sale September 2008 Full MC June 2009
Full MC June 2009
“S.S. Light Package”
On sale May 2008
A model allowing consumers to experience the beauty of stainless at a reasonable price.
Apr 2009: 100,000 yen price decrease
Luxury System Kitchen
“S.S.”
Full MC Sept 2007
Our standard brand as
“The Kitchen Company”
A package allowing consumers to access Cleanlady at an affordable price
“S.S. Light Package”
￥ 798,000
↓
PRICE DOWN￥ 698,000
“CLEANLADY”
￥ 598,000
“LADY Light Package”
￥ 498,000
Synergy from Araeru
Range Hoods, Tottemo
Clean Hoods, and
IH Cooking Heaters
6. Dem onstr ati ng Added Val ue i n S.S./ CLEANLADY
Complete Renewal of the “CLEANLADY” Line
Improved Pricing
Fully loaded with new functions and designs, such as the “Uki-Uki
Pocket” and “flower white” synthetic marble countertops.
Creating Renovation Demand
7. A Pr oduc t Cr eati on System Suppor ti ng Added Val ue
Aiming to create “products you can trust”…
Cleanup’s Product Creation
“Products You Can Trust”
Compliance with Laws/Systems 3R Efforts
●Housing Function Display System (Quality Assurance Law)
●Effective Resource Use Promotion Law
●Long-Term Quality Housing Promulgation and Promotion Law, etc.
●Reduce
(Reduce creation of waste products)
●Reuse (Reuse waste products)
●Recycle (Reuse as raw materials)
●Recycling “S.S.” stainless material
●High water conservation in “Araeru Range Hoods”
【The Foundation of Product Creation】
CPS (Cleanup Production System), based on Cleanup’s unique quality management beliefs
●Strong insulation/Recyclable wall panels
●Full-support bars for barrier-free use, etc. Examples of
Recent Efforts
System Kitchens System Bathrooms
CSR Environmental
Compliance
15.9 17.0
15.2 15.2
15.1 15.2 14.5 14.7
10.0 12.0 14.0 16.0 18.0
2007/3 2008/3 2009/3 2010/3
System Kitchens Sectional Kitchens
8. Cl eanup Pr oduc t Mar ket Shar e ①
Market share is recovering in every department
（％）
Changes in Market Share by Department
2Q Totals
4.3 4.4 4.2 4.2
6.2 5.6
5.2 5.3
0.0 2.0 4.0 6.0 8.0
2007/3 2008/3 2009/3 2010/3
System Bathrooms Bathroom Vanities
（％）
2Q Totals
20.6
16.9 16.5
13.9
16.0
14.7 16.8 15.5
10.7 9.3 9.7
11.3
4.0 8.0 12.0 16.0 20.0 24.0
2007/3 2008/3 2009/3 2010/3
Luxury Mid-Level Entry-Level
8. Cl eanup Pr oduc t Mar ket Shar e ②
（％）
Other shares (special orders) FY 2007 27.3%
FY 2008 27.7%
FY 2009 2Q total 29.0%
Share increase for all types of our main product, the system kitchen
Changes in System Kitchen Market Share
2Q Totals
9. Im por tant Sal es-Foc used Measur es
Refor m str ategy
Str engthen custom er
contact
Expand r etai l busi ness
Holding cooking classes in
showrooms, etc.
Increasing business demand,
primarily in the “Retail Business
Development Department”
Expanding sales opportunities
through “Mizu-mawari
Workshops”
By continuously
pursuing these
goals
we can promote the
production of
added-value
from the customer’s
point of view
10. Other Im por tant Measur es
● Current year: Two times (10,000 copies each in May and November)
● From next year: One publication/year planned
“ Smile !dea ” brand magazine launched in May
Goal
Tar gets
Fr equenc y of publ i c ati on
Provide information on corporate activities, delivered
both inside and outside the company, as one
measure to strengthen the corporate brand
Individual customers, business partners, investors,
the media, students (distributed free at exhibitions,
sponsored events, showrooms, sales locations and
universities nationwide)
11. Futur e Managem ent ～ Managem ent Based on New Cor por ate Phi l osophy
Establishing a “New
Corporate Philosophy”
for our 60th
anniversary and
challenging ourselves
to achieve innovation
in our “Second
Founding”.
Founder ’s Pr i nc i pl e
“The 5 Spi r i ts”
Cor por ate Pr i nc i pl e
“Cr eate Your Fam i l y’s Sm i l es”
Behavi or al Pr i nci pl es
“We create a spiritually rich food and shelter culture”
“We stick to fair and honest corporate activity”
“We build a company that makes our families proud”
New Br and Statem ent
“Let’s Make Sm i l es fr om the Ki tchen" Acti on Pl an
- Foundi ng Spi r i t - Lovi ng Spi r i t - Inventi ve Spi r i t - Tec hnol ogi c al Spi r i t - Chal l engi ng Spi r i t
Founder ’s Pr i nc i pl e
“The 5 Spi r i ts”
