eps co., ltd. 2010 business report business report october 1, 2009 to september 30, 2010. greetings...

EPS Co., Ltd.The Clinical Service Provider

2010 Business ReportOctober 1, 2009 to September 30, 2010

Greetings to Shareholders and Investors

EPS Co., Ltd., is expanding its business in Japan and overseas,

focusing on contract research organization (CRO) services, which involve

the outsourcing of all services related to clinical studies.

　During the fiscal year ended September 30, 2010, our activities in

Japan included taking over business from Atsuku Corporation in

September 2010 and reinforcing our monitoring business. Meanwhile,

EPS China Co., Ltd., commenced sales in China of influenza diagnosis

kits in January 2010, the first such attempt by the EPS Group.* We

have also announced our participation as an associate developer in

the development program for F351, an oral compound for treatment

of hepatic fibrosis and hepatic cirrhosis under development in China

by GNI Co., Ltd., a Japanese drug-discovery venture company in July

2010. We expect this drug to be a blockbuster, with the markets for it

expected to reach US$2.4 billion in China and the United States and

US$1.9 billion in Japan. We are supporting phase II clinical studies in

China with the goal of commercializing F351 in China and Japan. We

also concluded a master service agreement in China with AnGes MG,

Inc., a bio-venture company in Japan, in July 2010.

　We intend to continue such expansion of our business, working in

close coordination with our group companies and partners. We

remain grateful for the kind support of our investors and hope they will

remain with us as we continue to grow.

December 2010

*EPS China obtained a license to wholesale medical devices, as well as an import/export permit, on January 15, 2010, and has since begun to import and sell the influenza preparation kits (called Espline) in China.

Yan Hao, President & CEOYan Hao was born in 1962 in Jiangsu Province, China. In 1979,

he entered the Engineering Department of the University of

Tianjin. In 1981, He came to Japan, where he entered the

University of Yamanashi as a government scholar. After

graduation, he majored in Biometrics and Medical Infomatics at

the University of Tokyo’s graduate studies program and engaged

in research and operation of clinical studies. In 1991, He

established EPS Tokyo, now known as EPS Co., Ltd. In 2001,

its 10-year anniversary, the Company made a successful initial

public offering on the JASDAQ market. In 2006, the Company

listed on the First Section of the Tokyo Stock Exchange Market.

2

The EPS Group is expanding across a broad range of businesses, including CSO, IT and human resource services business centering on CRO and SMO.

EPS Co., Ltd. has established a structure enabling the contracting of all CRO work, from nonclinical studies through post-marketing research. In addition to the development of ethical drugs and post-marketing study practices for pharmaceutical company, EPS supports drug development through bio-ventures and physician-initiated clinical studies.　E-Trial Co., Ltd., supports the streamlining of clinical studies through computerization by constructing data collection and management systems utilizing electronic data capturing (EDC).

EP-Mint Co., Ltd. handles clinical studies support for medical institutions. The company has expanded its

business in response to the growing need for such services, and is now one of the largest Japanese SMOs in terms of its number of clinical research coordinators (CRCs) and branch offices in Japan. The company aims to become Japan’s leading SMO by maximizing the advanced skills and extensive trial site experience of its clinical research coordinators, as well as further enhancing its internal structure.

Domestic medical services

Overseas medical services

EPS International Co., Ltd., is expanding its CRO business in Shanghai, Beijing, Hong Kong, Taipei, Seoul Singapore. The company has established a system designed to handle the growing number of international joint clinical studies conducted in Asia. 　EPS China Co., Ltd., the umbrella organization for the EPS Group’s business in China, is making progress inenhancing its system for contracting data center

Support for clinical studies by pharmaceutical companies

CRO business

Support for clinical studies at medical institutions

SMO business

Expanding CRO business in Asia

CRO business

An introduction to the EPS Group

3

Preclinical study agency business and import/sales of related materials

Preclinical study

Highly specialized call center services

Call center servicesFocusing on IT services for the medical and healthcare industries

Software development business

Providing temp staff for CSO and CRO business

Temp staff dispatching

work and medical IT system planning, construction and operations. EPS China Co., Ltd. continuously invests in medical products business areas in China new to the EPS Group, while keeping a sufficiently close eye on risk.

All Right Software Co., Ltd. conducts software development. In addition to its business solution services, such as the dispatch of IT technicians and provision of teleconferencing systems, the company

focuses on IT services, such as testing support, for the medical and healthcare industries.

LSG Co., Ltd. offers a variety of overseas agency services to preclinical studies using laboratory animals to examine scientific properties and side effects. Henceforth, LSG Co., Ltd. will focus on expanding the market for purified diet for use at university facilities, as well as on contracting for safety studies, including bio-safety studies.

Pharma Network Co., Ltd. conducts CSO business. The company aims to expand its operations by contracting for MR work, dispatching MR staff and conducting MR training. 　EP-Mate Co., Ltd. is in the business of dispatching pharmaceutical development experts, and will continue to strengthen its business profile.

Medical Line Co., Ltd. provides highly specialized call center services staffed by expert pharmacists for the medical, pharmaceutical and healthcare industries.　The company seeks to expand its business by maximizing its synergies with our Group companies.

IT services

Human resource services

An introduction to the EPS Group

4

EPS Group

Providing full-service in drug development contracts September 30, 2010

Business CRO CRO(pre-clinical)Company SMO Human

resources IT Drugdis-cover

Callcenter

■ Established year / 1991■ CEO / Yan Hao ■ Employees / 1,288

■ Established year / 1999■ CEO / Shinro Tashiro■ Employees / 444

■ Established year / 2006■ CEO / Satoru Kono■ Employees / 25

■ Established year / 2007■ CEO / Tatsuhiko Ichiki■ Employees / 128

■ Established year / 2002■ CEO / Takeshi Tadano■ Employees / 109

■ Established year / 1997■ CEO / Makoto Enokido■ Employees / 237

■ Established year / 2005■ CEO / Yasuo Kiba■ Employees / 63

■ Established year / 2006■ CEO / Junichi Nishizuka■ Employees / 204

■ Established year / 2001■ CEO / Yan Hao■ Employees / 217

■ Established year / 2008■ COO / XIA XiangMing■ Employees / 84

Domestic drug service

Overseas drug service

Human resources service

IT service

Chinese business

The numbers of employees are excluded temporary and contracted staff.

5

Answering your questions regarding EPS Group servicesThe core mission of the EPS Group is our CRO business, which involves multifunctional support such as SMO business, preclinical study business, and CSO work related to MR staff dispatch. We support product development conducted by pharmaceutical companies through our groupwide structure, which provides full drug development support, from planning through the filing of new drug applications. The following are answers to frequently asked shareholder and investor questions.

Q&ASpecial Issue

Drug development is a serious burden for

pharmaceutical companies, involving long

time periods and ever-expanding costs. Clinical

studies are necessary for drug development, but they

also are burdensome to medical institutions, which

must devote resources to treating patients while

simultaneously cooperating in drug testing.

Companies therefore outsource drug study work, and

contract research organizations (CROs) and site

management organizations (SMOs) provide that

outsourcing support.

　Pharmaceutical companies contract CROs to

perform clinical studies. SMOs contract with medical

institutions to support the work conducted by

physicians and nurses in clinical studies. Within the

EPS Group, EPS Co., Ltd. conducts CRO business for

pharmaceutical companies that develop new drugs,

while EP-Mint Co., Ltd., conducts SMO business for

medical institutions that conduct clinical studies of the

new drugs. Operating these businesses through

separate companies ensures the reliability of the data

and guarantees independence and fairness.

The EPS Group supports a wide range of

drug development. We have particularly

extensive experience in oncological, cardiovascular

and central nervous system medicine, which treat the

three major causes of death in Japan.

A

A

Q How do CROs and SMOs differ?

Q In which areas of drug developmentis the EPS Group involved?

Knowing it and getting it !

6

The Number of Protocols (By Therapeutic Areas)

500

400

300

200

100

0

Oncology

Cardiovascular

Central Nervous System

Endocrine/Metabolic

Musculus/Bones

Sensory Organs

Gastrointestinal

Hematology

Infections

Urology

Imm

unology/Allergies

Respiratory

Others

100

234 213 213

895872818386

136

267

453

　We have also announced our participation in F351,

which is under development by GNI Co., Ltd. in China.

F351 is an oral compound for treatment of hepatic

fibrosis and hepatic cirrhosis. Following China and

Australia, in 2010 patents were obtained in Canada,

the United States and Japan. We aim to

commercialize F351 as a blockbuster drug in China

and Japan, and are providing our support as an

associate developer in GNI’s clinical studies.

We lay out the framework for full support,

from basic and preclinical studies through

post-production and marketing surveys. Additionally,

the Group companies each focus on a particular area

EPS International Co., Ltd. was established in

2007 to meet clinical studies needs in Asia.

The company offers comprehensive CRO services

based in Shanghai, Beijing, Hong Kong, Taipei, Seoul

and Singapore. EPS China was established in 2008 in

Suzhou to strengthen our overseas businesses and

support high-quality clinical studies internationally.

　EPS China Co., Ltd. commenced sales of influenza

diagnosis kits in January 2010 (see page 2). This

represents our first foray into sales of material

products, and we hope to contribute to developing the

medical industry in China through this effort.

of the drug development process, such as SMO, CSO,

personnel services, preclinical study business and

system development. Our efficient work system based

on our rich knowhow and wealth of experience

contributes to speeding up the drug development

process, from the development stage through

approval. The EPS Group’s unique strength lies in our

ability to offer high quality customer service

customized to meet pharmaceutical company and

medical institution needs. Stronger demand for

outsourcing of clinical studies in Asia provides a critical

boost to us in our Asia-centered global operations.

A

Q What are the advantages of a full support system for clinical development?

Q Describe your overseas business progress.

A

7

Operating Income(Millions of yen)

Net Sales(Millions of yen)

■Non-consolidated ■Consolidated

0 5,000 10,000 15,000 20,000 25,000 30,000

18th TermFY9/08

19th TermFY9/09 17,980 23,568

15,403

20th TermFY9/10


18th TermFY9/08

19th TermFY9/09

20th TermFY9/1017,980 29,451

17,948

21,182

13,108

0 1,000 3,0002,000 5,0004,000

3,487

2,442

4,008

3,347

4,415

3,922

8

●CRO businessOur CRO business is handled mainly by EPS Co., Ltd.

The Clinical Development Division’s monitoring business continued to perform favorably in terms of existing and new orders for clinical studies at the development and post-production and marketing stages, chiefly for anticancer, diabetes, high blood pressure and central nervous system (CNS) drugs.

The Biometrics Division vigorously pushed forward in both existing projects and new project acquisition for its data management, statistical analysis, medical writing, pharmacovigilance, and registration and project management services. As a result, revenues from these services increased over the preceding fiscal year.

Our Data Center services, which mainly involve post-marketing studies and drug performance surveys, remained strong.

The Clinical Coordination Center, which provides new business planning and other services associated with medical device development, carried out existing projects and acquired new projects. Consequently, year on year earnings for these services increased.

As described above, the earnings of the Company remained steady, with sales at each division increasing over the previous consolidated fiscal year. In addition, our cost reduction efforts led to increases in nonconsolidated sales and profits over the preceding fiscal year.

At our domestic consolidated subsidiaries, sales and profits at e-Trial Co., Ltd., rose in comparison to the previous fiscal year due to its continued efforts to acquire new contracts for clinical studies based on the EDC system of electronically accumulating and managing the results of clinical studies. EPMate Co., Ltd., engaged in staff dispatching services (CRO

Management Results

Business Trends

Net Income per Share(Yen)

Net Income(Millions of yen)

0 800 1,6001,200400 2,000 2,400


18th TermFY9/08

19th TermFY9/09

20th TermFY9/10


18th TermFY9/08

19th TermFY9/09

20th TermFY9/10

0 10,0005,000 15,000 20,000

1,708

1,360

1,713

1,583

2,191

2,252

19,110

15,220

19,162

17,715

12,255

12,596

9

dispatching business) for pharmaceutical companies, achieving substantial increases in sales and profits compared with a year earlier thanks to growth in its dispatched monitoring service. Pharma Network Co., Ltd., a provider of such CSO services as MR dispatching, merged with EP Medical Co., Ltd., in October 2009, resulting in sharply increasing year on year sales. Nonetheless, profits decreased as the company concentrated its efforts on streamlining its corporate structure.

Medical Line Co., Ltd., which became a consolidated subsidiary in October 2009, is engaged in dispatching personnel such as pharmacists particularly to the medical, pharmaceutical and healthcare industries, as well as in information provision services. Its earnings increased over the previous fiscal year due to a rise in sales of its mainstay drug information (DI) service and the strong performance of the contact center service,

involving campaigns to enhance public awareness of diseases. Profits of Medical Line began contributing to consolidated earnings during the fiscal year.

In the overseas CRO business, EPS International Co., Ltd. and its group companies, which EPS International (China) Co., Ltd., EPS Singapore Ltd. and EPS Hong Kong Ltd., did their utmost to obtain new orders for CRO services relating to cross-border clinical studies, especially in Asia.

Continuing from the previous fiscal year, EPS China Co., Ltd. proceeded to make preparations for full-scale data management, drug discovery and medical IT operations.

As a result, sales and profits of the CRO business for the fiscal year under review increased compared with previous year, with consolidated net sales reaching ¥23,143 million, up 32.1%, and operating income standing at ¥3,958 million, up 11.6%.

■Interim ■Annual　(Yen)

0

2,000

4,000

6,000

8,000

FY9/09 FY9/10

2,800

3,200

FY9/11 Budget

3,200

1,900

1,900

1,600

6,0005,100

3,500

10

●SMO business EP-Mint Co., Ltd., which conducts SMO business, enhanced its branch-based management system in working to acquire new orders, focusing on CRC service as well as site-support services such as the clinical study administration in cooperation with local trial sites. Consequently, both sales and profits of the SMO business for the fiscal year rose compared with previous year, with consolidated net sales totaling ¥4,058 million, up 21.2%, and operating income standing at ¥606 million, up 21.0%.

●Preclinical study businessThe preclinical study business, which is conducted by the LSG group, was adversely affected by excessive supply in the market for laboratory animals. As a result, sales and profits of the preclinical study business for the fiscal year declined sharply compared with previous year, with consolidated net sales registering ¥860 million, down 18.4%, and operating income standing at ¥6 million, down 87.7%.

●Software development businessThe software development business is conducted by the All Right Software Group. The visual communication business centering on videoconferencing systems was strong as companies increasingly cut back on overseas business trips while beginning to use videoconferencing. Meanwhile, the mainstay software development business was hit by

Management Results

the economic recession. Consequently, consolidated net sales of the software development business for the fiscal year under review were ¥1,549 million, down 11.6%, and the operating loss was ¥163 million, compared with a loss of ¥100 million of previous year.

The above consolidated net sales and operating performance by business segment include inter-segmental transactions. After deducting these transactions, overall sales and profits for the fiscal year under review increased over the previous fiscal year. Consolidated net sales amounted to ¥29,451 million, up 25.0% year on year. Operating income was ¥4,415 million, up 10.2%, ordinary income stood at ¥4,443 million, up 9.7%, and net income was ¥2,191 million, up 27.9%.

DividendsWe decided to pay an annual dividend of ¥5,100 per share for the fiscal year ended September 2010 (20th term), comprising ¥3,200 as a second-quarter dividend and ¥1,900 as a year-end dividend. We conducted a 2-for-1 stock split, with March 31, 2010 as the record date. We are grateful to our shareholders for their continued support.

11

CURRENT ASSETS

Cash and cash equivalents

Notes and accounts receivable

Inventories and products

Works in progress

Deferred tax assets

Others

Allowance for doubtful accounts

Total current assets

FIXED ASSETS

Tangible Assets ;

Leasehold improvements

Accumulated depreciation

Furniture and fixtures


Others


Total property and equipment

Intangible Assets ;

Goodwill

Others

Total intangible assets

Investments and other assets ;

Investment securities

Deposits

Time deposits and banking arrangements other than cash equivalents

Deferred tax assets

Others

Total investments and other assets

Total fixed assets

TOTAL ASSETS

7,956,839

5,954,040

317,270

337,675

934,367

561,586

(6,459)

16,055,320

521,652

(265,275)

513,181

(325,510)

391,680

(121,707)

714,020

597,949

242,490

840,439

585,816

1,179,445

500,000

304,854

470,742

3,040,858

4,595,318

20,650,639

6,607,331

5,211,905

231,824

253,598

645,892

494,226

(2,108)

13,442,670

444,596

(224,094)

385,317

(252,448)

167,856

(76,061)

445,165

159,358

204,830

364,189

881,700

1,012,144

500,000

314,360

346,629

3,054,836

3,864,190

17,306,861

ASSETS

(Thousands of yen)Consolidated Balance Sheets

Financial Information

(Thousands of yen)

CURRENT LIABILITIES

Accounts payable

Short-term debt

Current portion of long-term debt

Income taxes payable

Provision for bonuses

Provision for loss on order received

Others

Total current liabilities

LONG-TERM LIABILITIES

Provision for employee's retirement benefits

Provision for director's retirement benefits

Others

Total long-term liabilities

TOTAL LIABILITIES

Shareholders' equity

Common stock

Additional paid-in capital

Retained earnings

Common stock for treasury

Total shareholders' equity

Valuation and translation adjustments

Unrealized gain (or loss) on available-for-sale securities

Deferred gain (or loss) on hedges

Foreign currency translation adjustments

Total valuation and translation adjustments

Share option in consolidated subsidiary

Minority interests

TOTAL NET ASSETS

TOTAL LIABILITIES AND NET ASSETS

LIABILITIES

NET ASSETS

September 30,2009

September 30,2010

September 30,2009

September 30,2010

204,226

150,000

200,000

944,772

1,145,169

75,650

1,899,275

4,619,093

307,137

247,397

25,378

579,912

5,199,006

1,875,251

1,825,431

7,657,862

(321,437)

11,037,108

(39,782)

(2)

(65,647)

(105,431)

1,176,178

12,107,854

17,306,861

238,683

185,000

1,353,483

1,443,761

145,000

2,253,900

5,619,828

364,582

279,874

39,090

683,547

6,303,376

1,875,251

1,826,300

9,277,109

(317,258)

12,661,403

(946)

(115,922)

(116,869)

6,528

1,796,201

14,347,262

20,650,639

For the years ended September 30, 2010




NET SALESCOST OF SALES

Gross profitSELLING, GENERAL AND

ADMINISTRATIVE EXPENSESOperating income

OTHER INCOME (EXPENSES)Interest incomeInterest expensesGain on cancellation of life insurance Service fee incomeGain or loss of equity in associated

companies (loss)Gain on sales of property and equipmentForeign exchange gain or loss (loss)Dividends incomeGain on sale of investment securitiesGain on change in equity by merger

of consolidated subsidiaryRefund of insurance surrender Subsidy in consolidated subsidiariesLoss on sales and disposal of

property and equipmentLoss on devaluation of investment

securitiesImpairment loss on goodwillOthers- net

Other income (expenses)-net

Income before income taxes and minority interests

INCOME TAXES CurrentDeferred

Total

MINORITY INTERESTS

NET INCOME

23,568,50316,031,681

7,536,821

3,528,477

4,008,344

25,570(9,720)6,1325,829

5,107

697(7,446)7,675

53,695

－－－

(28,583)

(173,746)

(125,666)(14,843)

(255,298)

3,753,045

1,729,771219,840

1,949,61190,283

1,713,150

29,451,04619,970,311

9,480,734

5,065,531

4,415,203

17,890(8,782)

22,1976,108

9,999

－(40,008)

5,187288

34,961

25,32023,660

(17,382)

(284,141)

(10,000)5,195

(209,505)

4,205,698

2,156,891(249,539)

1,907,352106,939

2,191,407

Consolidated Statements of Net Assets (Thousands of yen)

Shareholders' equity

Common stock

Additional paid-in capital

Retained earnings

Common stock for treasury

Valuation and translation adjustments

Unrealized gain (or loss) on available-for-sale securities

Deferred gain (or loss) on hedges

Foreign currency translation adjustments

Share option in consolidated subsidiary

Minority interests

TOTAL NET ASSETS

11,037,108

1,875,251

1,825,431

7,657,862

(321,437)

(105,431)

(39,782)

(2)

(65,647)

－

1,176,178

12,107,854

12,661,403

1,875,251

1,826,300

9,277,109

(317,258)

(116,869)

(946)

－

(115,922)

6,528

1,796,201

14,347,262

Consolidated Statements of Income(Thousands of yen)


12





Consolidated Statements of Cash Flows(Thousands of yen)

OPERATING ACTIVITIES:

Income before income taxes and minority interests

Adjustments to reconcile income before income taxes and minority interests to net cash provided by operating activities:

Depreciation and amortization

Impairment loss on goodwill

Increase (Decrease) in provision for bonuses

Increase (Decrease) in allowance for retirement benefits for employees

Increase (Decrease) in allowance for retirement benefits for directors

Interest and dividends income

Interest expense

Gain (or loss) on sale of investments in securities (-net)

Loss on devaluation of investments in securities

Gain (or loss) on sales and disposal of property and equipment (-net)

Changes in operating assets and liabilities:

Decrease (increase) in accounts receivable-trade

Decrease (increase) in inventories and products

Increase （decrease) in accounts payable -trade

Increase （decrease) in other current liabilities

Others, Net

Subtotal

Interest and dividends received

Interest paid

Income taxes paid

Net cash provided by (used in) operating activities

3,753,045

272,090

125,666

60,924

24,922

38,336

(33,246)

9,720

(51,960)

173,746

27,886

(621,311)

55,143

(15,320)

119,948

(8,251)

3,931,339

36,683

(9,720)

(1,895,528)

2,062,773

4,205,698

429,650

10,000

299,521

17,334

13,371

(23,078)

8,782

(288)

284,141

17,382

(492,149)

(183,056)

(325)

175,321

(29,867)

4,732,440

25,919

(8,782)

(1,745,892)

3,003,684

－－

(162,555)

(42,697)

(239,339)

560,892

(187,968)

(75,400)(213,753)

－

72,975

10,253

(277,594)

－－

(205,700)

9,942

(519,428)(31,661)

(3,923)

(750,770)

(66,062)

968,346

5,638,984

－

6,607,331

(203,298)202,937

(360,948)

(112,729)

－

－

(169,577)

(86,008)(71,000)

(402,041)

－

27,051

( 1,175,614)

220,000

(215,000)

(200,000)

－(572,084)

(18,078)(21,642)

(806,805)

(28,215)

993,049

6,607,331

205,600

7,805,981

INVESTING ACTIVITIES:Payments for time depositsProceeds from maturity of time depositsDisbursements for purchase of

tangible fixed assets Disbursements for purchase of

intangible fixed assets Payment for purchase of investments

securities Proceeds from sales and maturity of

investment securitiesPayment for deposit for rent office

and othersPayment for insurance reserve fundPayments for acquisition of businessPurchase of investments in subsidiaries

resulting in change in scope of consolidation

Proceeds from purchase of investments in capital of subsidiaries resulting in change in scope of consolidation

Others , Net Net cash provided by (used in)

investing activitiesFINANCING ACTIVITIES:

Proceeds from borrowing short-term debt Disbursements for repayment of

short-term debt Disbursements for repayment of

long-term debtProceeds from capital increase by

minority stockholdersDividends paidDividends paid to minority stockholdersOthers , NetNet cash provided by (used in)

financing activitiesEFFECT OF EXCHANGE

DIFFERENCE ON CASH & CASH EQUIVALENTS

NET INCREASE （DECREASE) IN CASH AND CASH EQUIVALENTS

BEGINNING OF BALANCE, CASH AND CASH EQUIVALENTS

INCREASE IN CASH AND CASH EQUIVALENTS BY MERGER OF CONSOLIDATED SUBSIDIARY

ENDING OF BALANCE, CASH AND CASH EQUIVALENTS

(Thousands of yen)

13

14

(Thousands of yen)

(Thousands of yen)

Industry Segment2010 (October 1, 2009 to September 30, 2010)

2009 (October 1, 2008 to September 30, 2009)

CRO SMO PreclinicalService

SystemDevelopment Total Eliminations/

Corporate Consolidation

CRO SMO PreclinicalService

SystemDevelopment Total Eliminations/

Corporate Consolidation

23,118,092

25,627

23,143,719

19,184,884

3,958,835

4,056,466

2,265

4,058,731

3,452,266

606,465

856,054

4,140

860,194

853,460

6,733

1,420,433

129,465

1,549,899

1,713,029

(163,130)

29,451,046

161,498

29,612,544

25,203,640

4,408,904

(161,498)

(161,498)

(167,797)

6,298

29,451,046

29,451,046

25,035,842

4,415,203

17,503,999

21,130

17,525,130

13,977,526

3,547,603

3,347,671

3,347,671

2,846,638

501,032

1,050,321

4,140

1,054,461

999,899

54,562

1,666,510

86,941

1,753,451

1,854,288

(100,836)

23,568,503

112,211

23,680,715

19,678,353

4,002,362

(112,211)

(112,211)

(118,194)

5,982

23,568,503

23,568,503

19,560,159

4,008,344

SALES

Sales to customers

Intersegment sales

Sales total

Operating expenses

Operating income

SALES

Sales to customers

Intersegment sales

Sales total

Operating expenses

Operating income


648,000

180,800

3,278

33,520

20,536

13,771

13,090

7,068

6,461

5,600

5,435

4,745

3,240

Principal Shareholders

18.53

11.35

7.61

7.24

3.90

3.57

3.09

3.00

2.62

1.79

取締役および監査役（2010年9月30日現在）

Authorized shares

Shares of common stock issued

Number of shareholders

Shareholder Shares heldPercentage

of total

Shareholder Breakdown

Other Japanese corporations 19.00％34,367 shares, 25 shareholders

Foreign shareholders 32.34%

58,485 shares, 106 shareholders

Securities companies 1.21%

2,198 shares,17 shareholders

Individuals/Others 28.26%

51,102 shares, 3,101 shareholders

Government and local authorities 0.00%

12 shares, 1 shareholders

Treasury stock 1.09%

1,974 shares

Other Japanese financial institutions 18.06%

32,662 shares, 27 shareholders

15

Stock Information (As of September 30, 2010)

Members of the Board and Statutory Auditors (As of September 30, 2010)

President & CEO

Directors

Statutory auditors

Yan Hao

Tatsuhiko Ichiki

Koichi Jingu

Yasuharu Tamai

Hidetaka Ando

Hiroaki Abe

Masaaki Anzai

Kozo Okunaga

Koichi Shibuya

The paper used in this pamphlet is produced from fiber sourced from well-managed forests and other forests where unacceptable sources have been excluded, as defined by the FSC. The printing processes that are used do not involve the output of wastewater.

Company ProfileLocations: Center Office

Tsuruya Bldg. 2-23 Shimomiyabicho, Shinjuku-ku, Tokyo 162-0822TEL: +81-3-5684-7801

Annex. 1Sumitomo Fudosan Iidabashi Bldg. No.42-3-19 Koraku, Bunkyo-ku, Tokyo 112-0004

Annex. 22, 3, 4, 5F, Iidabashi MF Bldg.1-1 Shinogawamachi, Shinjuku-ku, Tokyo 162-0814

Annex. 36F, Daiichikangin Inagaki Bldg.2-1 Shimomiyabicho, Shinjuku-ku, Tokyo162-0822

Annex. 42F, S&S Bldg.6-36 Shinogawamachi, Shinjuku-ku, Tokyo 162-0814

Osaka Branch9, 11F, Nissei Shin-osaka Bldg.3-4-30 Miyahara, Yodogawa-ku, Osaka 532-0003

Nagoya Branch4F, Horiuchi Bldg.3-25-9 Meieki, Nakamura-ku, Nagoya-shi, Aichi 450-0002

EPS Co., Ltd.The Clinical Service Provider

Corporate Name:

President & CEO:

Establishment:

Capital:

Main Services:

E-Mail:

URL:

EPS Co., Ltd.

Yan Hao

May 1991

¥1875.25 million

CRO business and system development

[email protected]

http://www.eps.co.jp/en/index.html

Forward-Looking Statements

The items in this report include descriptions of future plans and forecasts. Actual performances may differ substantially due to various factors.

eps co., ltd. 2010 business report business report october 1, 2009 to september 30, 2010. greetings...

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