FOR IMMEDIATE RELEASE
April 15, 2009
Company name
Nagase & Co., Ltd.
Representative Hiroshi
Nagase
President and CEO
Stock code
8012 First section, Tokyo Stock Exchange and Osaka Securities Exchange
Contact Masanori
Furukawa
Manager, Corporate Accounting Division+81 3-3665-3103

Nagase Revises Earnings Forecast
Nagase & Co., Ltd. announces that, in light of recent performance, it has revised the earnings forecasts it released on January 30, 2009. Details appear below. Revision of full-year consolidated earnings forecast for the fiscal year ending March 31, 2009 (April 1, 2008 – March 31, 2009) (millions of yen, except percentages and per-share data)

Net sales
Operating
income
Ordinary
income
Net
income
Earnings
per share
(yen)
Previous forecast (A)
710,000
11,500
13,000
6,000
46.67
Revised forecast (B)
710,000
12,000
12,500
5,500
42.78
Change (B – A)
0
500
(500)
(500)
—
Percentage change (%)
0.0
4.3
(3.8)
(8.3)
—
For reference: Fiscal year ended March 31, 2008 (actual)
764,755
23,063
24,823
10,005 77.86
Revision of full-year non- consolidated earnings forecast for the fiscal year ending March 31, 2009 (April 1, 2008 – March 31, 2009) (millions of yen, except percentages and per-share data)

Net sales
Operating
income
Ordinary
income
Net
income
Earnings
per share
(yen)
Previous forecast (A)
470,000
2,000
7,000
3,100
24.11
Revised forecast (B)
460,000
2,500
7,600
4,400
34.21
Change (B – A)
(10,000)
500
600
1,300
—
Percentage change (%)
(2.1)
25.0
8.6
41.9
—
For reference: Fiscal year ended March 31, 2008 (actual)
522,260
7,292
12,294
2,728 21.22
Reason for revisions The forecast of non-consolidated net income was revised upward versus the initial forecast because unrealized losses on investment securities were lower than initially expected. Nagase’s forecasts of consolidated ordinary income and net income were revised downward versus initial forecasts because it expects to record a loss on change in equity interest and equity-method losses due to unrealized losses on investment securities recorded by unconsolidated subsidiaries and affiliates. Note: The above forecasts and other forward-looking statements are based on information available as of the date of this document, and actual results may differ materially from those expressed or implied by such forward-looking statements due to various factors.