セガサミーホールディングス THE ULTIMATE DIRECTION 29

SEGA SAMMY HOLDINGS

IN ASSOCIATION WITH ITS SUBSIDIARIES

PRESENTS

THE ULTIMATE Contents DIRE 6 8 8 9 12 14 16 2 28 COO 32 COO 38 44 29 3 46 46 48 5 52 56 6 63 65 15

CTION 29

SEGA SAMMY OPERATIONS CR NSP 1983, NSP 27 SAE-37 Sammy 2 SEGA Pachinko and Pachislot Machine Business 37.7% Amusement Machine Sales Business 14.4%

SEGA Amusement Center Operations 16.6% Consumer Business 3.6% UFO PC

THE MARKET A 199 3 1, A 24 8, 18 6, B 12 4, 1 6 98 99 1 2 3 4 5 6 7 8 2, 25 C A * 29 * 7 6 B 1 3, 12, 2,5 1, 2, 8, 1,5 6, D 1 24 1, 5 98 99 1 2 3 4 5 6 7 8 1 29 C 5, 4, 3, 4, 2, 24 7 2, 1, 98 99 1 2 3 4 5 6 7 8 * 1 * 76 E

PACHINKO & PACHISLOT 192 11mm 1 72.9 9 25.7 35.3% 2 21.7 29.8% 1.7 14.7% 1.5 14.4% 4.2 5.8% 29 1 28 2 * 196 3% 21 * * 28 1 1,4 1 LED 29 6 3 3 2 82 3 1 2 29 6 3 29 6 1 1,429 21.7 1 1,429 4,6 1,6 LED POS 9,6 2,423 * 28 7 6

CR NSP 1983, NSP 27SAE-37 Sammy 8. 2. 1. 5. 6. 7. 3. 4. Sammy 24 7 199 * P8 P11 * 24 712 3

25 D 27 C 28 3 F D 1.6 1.2.8.4. 98 99 1 2 3 4 5 6 7 8 * 76 E 1 17,5 14, 1,5 7, 3,5 98 99 1 2 3 4 5 6 7 1 F 5 8 * 4 32 24 16 8 % 1 8 6 11 4 2 6 7 8 * * 7 6

THE MARKET 26 5 27 41.1% 24 % 8, 48 6, 36 4, 24 2, 12 2 3 4 5 6 7 JAMMA AOU NSA 19 81 12,5 4 1, 32 12 7,5 5, 24 16 2,5 8 276 2 3 4 5 6 1 JAMMA AOU NSA 19 7 28 % 15 1 95 9 85 8 2 3 4 5 6 7 JAMMA AOU NSA 19

26 5 27 27 2.2% 2,55 2.7% 136 1.9% 2,191 28 8 6 4 2 2 3 4 5 6 7 JAMMA AOU NSA 19 2,5 2, 1,5 1, 5 13 2 3 4 5 6 7 JAMMA AOU NSA 19

THE MARKET 25 Xbox36 26 PLAYSTATION 3 Wii 28 2 6 21 % 35. 43. 22. 29 28 % 14. 47. 39. 14 * % Wii 21,646 27.3 DS 25,99 32.7 PS2 4,366 5.5 PS3 8,254 1.4 Xbox36 8,781 11.1 PSP 1,273 13. * 28 29 % Wii 131,974 24.3 DS 145,772 26.9 PS2 8,234 14.8 PS3 61,826 11.4 Xbox36 79,713 14.7 PSP 42,928 7.9

IP 1 IP A B C 12, 15 26 28 7.9% 3,321 9, 6, 3, 24% 3 4 5 6 7 8 4 27 29 7% 9,485 19% 1 1,793

NUMBERS 3 31 1 25 26 27 28 29 29 515,668 553,241 528,238 458,977 429,195 $4,369,286 211,559 229,12 23,79 12,43 119,93 1,212,389 16,469 19,868 126,549 126,232 11,729 1,127,242 15,9 119,144 76,53 (5,829) 8,364 85,147 EBITDA 2 122,764 14,999 14,578 39,782 35,9 356,398 5,574 66,222 43,456 (52,471) (22,882) (232,943) 32,468 37,65 59,272 5,422 26,61 27,895 17,674 21,855 28,48 45,611 26,645 271,251 41,59 36,338 52,17 65,385 59,676 67,513 77,762 83,228 6,623 (25,879) 32,199 327,792 (39,618) (54,76) (75,395) (1,399) 937 9,539 (25,73) (21,153) (1,713) (7,58) (7,653) (77,99) 3 38,144 28,522 (14,772) (36,278) 31,262 318,253 438,991 522,914 549,94 469,643 423,939 4,315,779 4 258,954 316,68 358,858 281,628 242,533 2,469,31 14,551,522 283,229,476 283,229,476 283,229,476 283,229,476 16 29 3 6.5% 84 229 1 3 % % % 6 4 4 2 4 1 4 5 3 3 15 3 5 2 4 3 2 2 1 2 2 1 1 1 5 1 5 2 7 8 9 7 8 9 7 8 9 1 7 8 9 4 3 3 3 3

1 1 25 26 27 28 29 29 25.27 5 261.6 172.47 (28.26) (9.83) $(.92) 2.48 5 26.35 172.35 4 1,33.96 5 1,254.14 1,341.8 1,3.9 882.47 8.98 6. 8. 6. 45. 3..31 % 41. 41.4 38.4 26.2 27.7 2.6 19.9 24. 27.5 25.8 2.4 21.5 14.5 1.9 8.1 6.6 9.9 14.2 13.9 ROE 19.5 6 23. 13.3 ROA 11.5 6 13.8 8.1 59. 6.6 61.5 55.3 52.4 1 29 3 31 98.23 1 2 EBITDA 3 4 28 327 3 26 5 25 11 18 1:2 25 4 11 6 25 3 ROE ROA 17 1 1 6 6 4 25 5 5 2 125 4 4 3 3 2 2 2 125 1 1 7 8 9 7 8 9 4 7 8 9 25 7 8 9 3 3 3 1 3 1

OUR STRATEGIC DIRECTION FOR ACHIEVING RENEWED GROWTH

NSP 1983, NSP 27 SAE-37 Sammy

FROM THE CHAIRMAN 2 29 3 6.5% 4,292 58 84

2 8.7% 57 47.2% 238 41.6% 19 283 229 1 15 15 3 29 3 2 1.9% 21 27 9 1 28 9 CR 26 29 3 1 39 3.4% 11.8% CR

6, 4, 2, 5,532 5,157 1,51 1,191 56 662 5 6 1,5 5,282 4,59 4,292 1, 765 5 (58) 84 435 (229) 5 (525) 1, 7 8 9 3 27 3 28 3 92 29 3 47 21 3 82 28 3 4 29 3 56 22 28 3 * 29 3 28 3 26 12 21.8% 13.5% 21 *

21 28 3 28 3 29 3 29 3 29 3 28 3 11 29 3 39 21 3 45 2 5 28 3 159 29 3 149 21 3 87 28 3 171 29 3 159 21 3 78 28 3 57 29 3 442 21 3 336 * * 21 3 23 28 3 29 3 11 56 5

21 3 24 21 3 21 3 15.% 3.5% 3.6% 27.1% 2.1% 4,2 63.7% 51.4% 84 27 * 4.5 6.4% * 229 15 * 36.5% 169 31.7% 182 14.1% 512 * * 21 35 P71

6, 1,5 4, 4,59 4,292 4,2 1, 3 29 21 * 2, (58) (525) 8 84 (229) 9 1 27* 15* 5 5 1, 3 1,617 1,86 +243 145 22 +75 619 43 189 69 25 44 713 52 193 (75) (1) +65 1,314 1,36 +46 (9) 85 +94 29 3 +1 3 3 * 25 CR CR 45 29 3 CR 29 3 18

26 3.5% 63.7% * * 93.6% 21 3 36 17 24.7% 2,97 * P4 P41

PC 27 24 1 29 8

FROM THE PRESIDENT COO 28 COO CR 24 7

CR 26 29 4 29 3 21 3 P38 P39 29

3 CR 21 3 21 3 2 5 845 29 3 CR 11% 21 3 55%

29 3 21 3 Sammy 11% 29/35521/3 CR 21 3 5 618 21 3 15.% 1,86 51.4% 22 2.8 11.8% 31 29 8 COO

FROM THE PRESIDENT COO 32 COO DNA 28 6 CHANGE 211 211 3 3 29 3 D5 ARCADE STAGE 5 SEGA All manufactures, cars, names, brands and associated imagery featured in this game are trademarks and/or copyrighted materials of their respective owners. All rights reserved.

58 36 21 21 3 ALL.Net RINGEDGERINGWIDE P4 P41 33

21 33.6% 43 63.7% 25 2 5.3 5.8% 4.7% 114 89 94 32.5% 359 18.4% 71 34 21 3 27.1% 52 75 1 41.6% 87 51.% 78 21 3 6 82 76 246 21 336 17 AT 29 BAYONETTA

Sports Interactive Ltd. 29 5 21 3.8% 2,97 6.9% 1,163 13.9% 1,45 15.6% 357 PC 35 29 8 COO

OUR STRATEGIC DIRECTION FOR CREATING NEW VALUE

SEGA

SPECIAL FEATURE 38 27 9 GATE 1 GATE 2 GATE 3 GATE 4

1 2 * * 1 4 4 1 3 4 1 5 39 * % 25 2 CR 15 1 5 1 2 3 4 5 6 7 8 9 1 11 12 *

SPECIAL FEATURE 1 ALL.Net 4 WIN-WIN ALL. Net

2 3 29 RINGEDGERINGWIDE RINGEDGE 3% RINGWIDE Windows PC 5 4 41

OUR STRATEGIC DIRECTION OVER THE MEDIUM-TERM SEGA TOYS / SPIN MASTER / BAKUGAN PROJECT

INITIATIVES AND NEW PRODUCTS 29 3 4 BAYONETTA CR NSP 1983, NSP 27 SAE-37 Sammy CR CR 29 3 26 28 44 SEGA WEB WEB SNS WEB 8, 9 SANRIO/SEGA TOYS S S/W TVO JLPC 777.net WebMoney Award 28 Best Games 12 777.net WebMoney Award 28 Best Games

Sonic Unleashed TM IOC. Copyright 29 International Olympic Committee IOC. All rights reserved. SUPER MARIO characters NINTENDO. SONIC THE HEDGEHOG characters SEGA. DS RPG ZERO DS RPG SEGA ZERO SEGA IOC International Sports Multimedia 21 29 45 29 SEGATOYS / SPIN MASTER SPIN MASTER Limited 29 Toy of the Year RINGEDGERINGWIDE RINGEDGE RINGWIDERINGEDGE RINGWIDE 3 SEGA 3 3 5 29 2 PLAY- STATION 3 3 3 5 29 3 32

BUSINESS SEGMENT 37.7% * 44.1% * 1982 21 46 * 1995 27 29 3 Sammy 3, 6 3 45 2, 4 2 3 1, 2 1 15 5 6 7 8 9 1 5 6 7 8 * 9 4 5 6 7 8 3 3 * * * 76

29 3 new release 27 9 CR 26 28.3 39.1 314.6% 1,165 3.4% 11.8% 28 3 25.7 12.3 67.4% 338 21.8% 8.3 13.5% 11.1% 1,617 72.1% 145 3.2 9.% 27 12 81.% 45 75.2% 53 25 BONES Project EUREKA MBS Sammy 29 NBGI 1 4 2 1 24 7 2 24 7 47

BUSINESS SEGMENT 14.4% * 8.5% * * 48 SEGA 3DCG UFO 3DCG * * * 9 3 2 6 2 15 1 3 1 5 5 6 7 8 9 1 5 6 7 8 9 1 3 * 21 3 2 4.7% 3 * 21 3 94

ALL.Net 29 3 WORLD CLUB Champion Football Intercontinental Clubs 26 27 27 28 29 3 WORLD CLUB Champion Football Intercon-tinental Clubs 26-27 49 12.4% 532 16.3%87 12.9% 619 3.6%691.11.1% 16.2% 114 SEGA The game is made by Sega in association with Panini. Panini S.p.A. All Rights Reserved new release SEGA RINGEDGE ALL.Net 21vs1 GP IC

BUSINESS SEGMENT 16.6% * 16.9% * * 5 % 1,2 2 3 3 6 11 6 1 15 2 4 1 1 2 9 6 5 6 7 8 9 1 15 1 5 6 7 8 9 1 1Q 2Q 8 3Q 4Q 1Q 2Q 9 3Q 4Q 8 3 3 3

new release 29 3 29 3 92.4% 11 21.8% 713 98 75 6.4% 149 7.3% 159 47 6 41 322 SEGA 21 3 9 2 51

BUSINESS SEGMENT 52 3.6% * 29.2% * 6 21 Football Manager Sports Interactive Ltd. * * * * 1,6 2 3 6 45 1,5 8 1 15 4 3 1, 2 15 5 8 5 6 7 8 9 1 15 1 5 6 7 8 9 1 5 6 7 8 9 1 3 3 3 * 21 3 4 2.9 * 21 3 29221.5

29 3 29 3 3 Sonic Unleashed Football Manager 29 Mario & Sonic at the Olympic Games 9.2% 2,947 1,249 SEGA 1,273 423 29 PC CR 53 7.4% 1,314 13.4% 821 4.9% 492 11.6% 328 6 9 new release BAYONETTA BAYONETTA PS 3 Xbox 36 BAYONETTA SEGA

OUR ULTIMATE DIRECTION SEGA

56 IR GOVERNANCE CSR /

6 2 4 3 1 6 1 4 CSR CSR 57

58 8 24 1 1 1 CSR 2 3 4 5 1 2 6

7 8 1 2 9 1 2 1 1 2 3 IR 2 1 3 2 1 3 IR 26 3 SOX 29 3 59

CSR CSR = Corporate Social Responsibility CSR CSR 6 CSR CSR 3 25 3 1. 2. 3. 3CSR CSR CSR PDCA CSR 3 CSR 27 3 CSR 4

CSR CSR CSR CSR CSR CSR 27 7 CSR CSR CSR CSR CSR CSR CSR CSR CSR CSR CSR PDCA CSR CSR 61 5 With Customers With Partners

With Shareholders and Investors IR With Employees 62 With Society * * 25 31 kwh 27 4 Y- 28 3 89,722 kwh 29 CSR 29 CSR WEB CSR http://www.segasammy.co.jp/japanese/pr/commu/csr_report.html

THE BOARD 29 6 18 CCO Chief Creative Officer 198 3 23 11 24 2 24 6 CEO 24 6 CEO 24 1 25 6 25 6 27 6 CEO COO 28 5 CEO 1984 4 23 6 24 6 24 1 25 8 Sega Holdings Europe Ltd. CEO 26 5 Sega Holdings U.S.A., Inc. Chairman 27 6 28 2 28 5 28 5 28 6 CCO 28 6 CCO 28 11 CCO 29 4 63 1989 9 24 1 25 4 25 6 25 6 25 6 27 6 28 5 COO 1981 4 1984 9 1984 12 23 4 Manufacturers Bank 25 7 JMS North America Corporation 26 6 27 6 1993 1 1997 6 1999 5 27 6 27 6 28 2 28 5 COO 28 6 Sega Holdings Europe Ltd. CEO 28 6 Sega Holdings U.S.A., Inc. Chairman 28 6 25 6 27 9 28 5 28 6 28 6 28 6 28 6 28 6 NTT 28 6 SBI 28 12 29 4 IT 29 6

199 6 1996 3 1997 3 1999 6 25 6 28 6 29 6 29 6 29 6 1984 11 21 6 26 4 27 6 27 6 64 1994 6 1996 6 21 6 24 6 24 1 25 6 1978 4 2 5 24 6 24 6 25 6 26 6 27 6

FINANCIAL SECTION Contents 66 68 74 76 77 79 8 13

THE MARKET 24 25 26 27 28 13,844 13,163 12,588 12,39 11,8 1,773 2,2 2,86 1,546 1,137 15,617 15,165 14,674 13,585 12,937 * 24 25 26 27 28 1,672,49 1,786,292 1,647,759 1,744,38 913,53 1,887,239 1,936,47 2,3,482 1,635,86 1,448,773 522,582 536,539 49,959 5,998 242,331 4,13,153 4,47,999 3,837,96 3,173,725 3,331,278 3,77,537 2,96,939 2,932,952 2,954,386 3,76,421 786,535 869,94 898,646 856,4 9,558 * 7 6 66 * 24 25 26 27 28 1 4.5% 34.% 31.8% 21.8% Y 18.8% 2 O 16.4% D 13.2% D 12.1% A 11.% S 14.6% 3 Y 9.% H O 1.5% H O 1.9% S 9.7% 13.5% 4 D 7.9% Y 8.4% Y 1.5% D 8.7% H O 7.5% 5 A 4.7% S 6.3% K 9.4% Y 8.7% K 6.5% * 7 6 * 24 25 26 27 28 1 S 22.9% S 24.7% S 23.1% S 25.8% S 24.3% 2 S 21.2% S 18.3% K 21.% S 22.9% S 13.6% 3 H 8.7% K 9.6% S 16.7% K 16.1% 11.8% 4 D 7.7% N 7.9% N 6.6% N 6.4% K 1.5% 5 N 6.9% 7.1% D 5.1% D 5.3% N 1.5% 5.8% 3.5% 3.4% * 7 6

23 24 25 26 27 177,889 18,55 199,227 223,357 219,61 637,744 649,223 682,458 72,857 678,99 1,759 1,19 9,515 9,91 8,652 % 11.1 96. 98.7 97.8 92.2 JAMMA AOU NSA 19 28 24 25 26 27 28 44,72 872,74 958,129 2,87,795 1,98,34 468,412 487,11 674,174 848,65 1,24,362 29 CESA * 24 25 26 27 28 2,798 3,464 4,94 4,942 5,85 15 26 38 49 57 1,374 1,623 1,631 1,72 1,773 412 589 748 848 869 997 1,226 1,677 2,325 3,16 67 29 * * 23 24 25 26 27 6,988 6,629 7,37 8,867 8,934 9,417 9,28 1,55 11,893 11,991 * 7 6 * 24 25 26 27 28 4,948 6,67 6,42 6,42 6,151 173 292 368 444 513 29 *

MDA 24 1 28 3 29 3 21.7 4 P8 P15 No.1 68 29 3 24 7 37.7 29 3 6 6, 5 4 5, 4, 4,59 161 91 199 14 64 4,292 3 3, 2 2, 1 1, 5 6 7 8 9 8 9 3 3

1.9 283 4 25 26 27 12 64 65 43 5 24 34 8.4 3,11 44 24 2 1.5 72.3 34 66 29 29 3 12.3 94 2 67 69 1,17 29 1.7 29 3 25.8 1 6.5 4,291 95 58 29 83 64 41 41 199 76 11.1% % % % 4 6 16 4 15 3 3 45 12 3 1 2 2 3 8 2 5 1 1 15 4 1 5 6 7 8 9 5 6 7 8 9 5 5 6 7 8 9 1 3 3 3

524 71 27. 228 82 11.5 295. 1 8.7 596 45 3 76 * P46 P53 389 12 651 17 54 29 59 842 11 22 266 1 39 457 4 95 2,425 33 456 11 4,239 39 228 266 45 234 82 11 389 12 2.9 52.4 1 7 184 95 882.47 321 99 117 3 258 79 2,867 41 356 68 16.4 971 95 9 6 3 3 6 9 58 8 61 3 23 5 4 6 84 24 16 8 8 16 24 84 19 65 43 24 9 9 44 3 35 21 41 2 3 3

182 9 37 13 99 5.8% 512 * 562 21 3 * 76 53 75 8 2.1 4,2 222.8 27 15 5 22 1 228 82 234 11 1,233 86 71 29 3 1,233 86 16 1,7 36.5% 169 12.7 31.7 189 47 1 1 % 3 6 7 21 2 5 6 18 1 4 5 15 3 4 3 12 9 1 2 2 6 2 1 1 3 3 5 6 7 8 9 5 6 7 8 9 5 6 7 8 9 1 1 3 3 3

6 9 87 8 14 1 14.6 11 77 32.7 22 47 375. 17 3 63 1 5.3 141 75 72 66.8 2 91 87.1 67 43.5 143 7 PC 75.6 4 5 1985 2 13 71.1 4 1 % 7 75 9 6 5 4 3 2 1 6 45 3 15 6 3 3 6 5 6 7 8 9 5 6 7 8 9 9 5 6 7 8 9 3 3 3

73 24 7 2 26 3

29 3 31 28 3 31 1 29 28 29 123,386 99,975 $ 1,256,93 3 8,5 2,263 81,951 3 8,469 72,541 819,19 (698) (571) (7,16) 1 1,8 1,797 18,324 7,656 13,728 77,94 2,915 3,181 29,675 3,972 34,526 315,31 9 7,14 9,562 71,44 9 3,382 5,998 34,429 21,795 32,38 221,877 286,741 275,38 2,919,78 74 3 8 22,592 48,811 229,991 3 54,398 57,716 553,782 64,986 65,799 661,57 494 1,26 5,29 39,635 43,323 43,491 182,15 216,675 1,853,863 (116,988) (112,646) (1,19,96) 65,117 14,29 662,93 3,935 4,212 4,59 1 11 23,798 31,396 242,268 21 6,95 13,524 7,752 18,721 21,971 19,583 9 6,47 3,689 65,866 16,568 23,214 168,666 (4,361) (7,43) (44,396) 72,81 9,576 733,798 423,939 469,643 $ 4,315,779

1 29 28 29 3 8,762 33,441 $ 89,199 3 51,299 49,496 522,234 9 3,132 3,18 31,884 2,296 2,792 23,374 473 13 4,815 137 13 1,395 3 9 31,96 43,694 316,563 97,195 132,863 989,464 3 59,575 33,2 66,485 5 1,873 9,27 11,689 2,152 2,94 21,98 9 1,195 1,396 12,165 3 1,416 9,192 16,37 84,211 55,152 857,284 75 6 7 18 8,, 283,229,476 29,953 29,953 34,927 171,83 171,93 1,741,657 119,417 15,888 1,215,688 (73,685) (73,681) (75,127) 246,768 278,253 2,512,145 (1,62) 598 (16,492) (2) 8 (5,966) (6,981) (6,735) (16,865) (12,348) (171,69) (24,451) (18,733) (248,917) 4 1,222 1,7 12,44 18,994 21,38 193,363 242,533 281,628 2,469,31 423,939 469,643 $4,315,779

29 3 28 3 27 3 1 29 28 27 29 76 429,195 458,977 528,238 $4,369,286 31,12 338,574 325,159 3,156,897 119,93 12,43 23,79 1,212,389 12 11,729 126,232 126,549 1,127,242 8,364 (5,829) 76,53 85,147 98 1,132 1,47 9,244 (9) (627) (625) (9,162) (191) (293) 12 (1,944) 487 16 4,16 4,958 539 (84) 98 5,487 (783) (1,471) (861) (7,971) (4,35) (12,356) (1,52) (43,826) 3 14 5 31 13 (6,465) (9,218) (1,76) (65,816) 3,26 (2,434) (929) (2,335) (24,779) (5,581) (4,424) (2,762) (45,37) (2,246) 1 3 4,441 119 31 14 (2,994) (3,479) (3,466) (35,285) 15 (2,67) (21,42) (2,251) (4,348) (1,541) (22,917) (28,34) (34,312) 887 (288,57) (19,976) (4,141) 77,417 (23,36) 9 2,94 9,94 33,72 29,563 (187) 2,64 (1,149) (1,94) (867) (1) (4) (8,826) 1,85 12,543 32,549 18,833 (21,826) (52,684) 44,868 (222,193) 1,56 (213) 1,412 1,75 (22,882) (52,471) 43,456 $ (232,943) 1 22 (9.83) (28.26) 172.47 $(.92) 172.35 3. 45. 6..31

29 3 28 3 27 3 28 3 31 29,953 171,93 15,888 (73,681) 598 (2) (6,981) (12,348) 1,7 21,38 281,628 (22,882) (22,882) (7,558) (7,558) (21) (21) (1) 17 7 (16) (16) 2 2 (2,218) (2,218) (1,15) 1,15 (4,517) (4,517) 152 152 (2,44) (2,44) 29 3 31 29,953 171,83 119,417 (73,685) (1,62) (5,966) (16,865) 1,222 18,994 242,533 77 1 28 3 31 $34,927 $1,741,759 $1,536,69 $(75,87) $ 6,88 $(2) $(71,68) $(125,76) $1,893 $214,171 $2,867,26 (232,943) (232,943) (76,942) (76,942) (214) (214) (12) 174 72 (163) (163) 2 2 (22,58) (22,58) (1,333) 1,333 (45,984) (45,984) 1,547 1,547 (2,88) (2,88) 29 3 31 $34,927 $1,741,657 $1,215,688 $(75,127) $(16,492) $ $(6,735) $(171,69) $12,44 $193,363 $2,469,31

27 3 31 29,953 171,97 221,172 (73,656) 4,779 (18) (7,55) (7,753) 455 2,334 358,858 (52,471) (52,471) (15,117) (15,117) (862) (862) (38) (38) (4) 13 9 (1,31) (1,31) 16 16 78 (4,181) (4,181) (524) 524 (4,595) (4,595) 615 615 74 74 28 3 31 29,953 171,93 15,888 (73,681) 598 (2) (6,981) (12,348) 1,7 21,38 281,628 26 4 1 29,953 171,71 193,721 (73,549) 11,757 (7,56) (8,767) 19,312 335,992 43,456 43,456 (15,118) (15,118) (646) (646) (17) (17) 26 26 (241) (241) (18) (18) (6,978) (6,978) 1 1 1,14 1,14 455 455 1,22 1,22 27 3 31 29,953 171,97 221,172 (73,656) 4,779 (18) (7,55) (7,753) 455 2,334 358,858

29 3 28 3 27 3 1 29 28 27 29 (19,976) (4,141) 77,417 $ (23,36) 26,645 45,611 28,48 271,251 (98) (1,132) (1,47) (9,244) 4,144 3,785 4,831 42,187 9 627 625 9,162 245 1,554 763 2,494 (3) 27 36 (31) 6,465 9,218 1,76 65,815 4,31 7,936 933 43,785 (487) (16) (4,16) (4,958) (3,26) 191 293 (12) 1,944 (2,671) 551 (1,647) (27,191) (198) 1,17 (142) (2,16) 383 (35) 49 3,899 1,66 819 935 16,899 89 112 17 96 (18) 225 7 1 8 72 (13,642) 5,731 14,321 (138,878) 9,87 (9,837) (7,538) 92,57 13,279 (22,11) 8,779 135,183 (6,146) (8,623) (8,96) (62,567) (59) (16,319) (2,275) (61) 8,713 16,675 (1,123) 88,71 32,19 (4,49) 1,528 325,959 1,8 1,235 1,236 1,262 (917) (514) (39) (9,335) (13,147) (28,421) (56,614) (133,839) 13,236 6,311 15,782 134,745 32,199 (25,879) 6,623 327,792 79 (14,441) (22,41) (49,345) (147,12) 21,498 196 1,543 218,854 (1,1) (1,794) (11,198) (2,258) (623) (33,18) (22,987) 52 5,872 4,343 529 (8) (2,967) (9,83) (8,144) 1,21 6,359 24,624 12,226 3,431 (81) 5,883 (13,889) (8,154) (4,192) (1,25) 3 (42,675) 339 (978) (1,565) 3,451 23 (1,51) (2,677) 86 (1,549) (27,252) 4,116 (344) 746 41,91 937 (1,399) (75,395) 9,539 1,5 7,185 2 1,689 (613) (5,333) (5,821) (6,24) (21,579) (1,245) 21,371 (219,678) 3,462 15,434 31,19 (6,216) (7,925) (2,1) (63,28) (7,579) (15,74) (15,94) (77,156) (21) (38) (17) (214) (3,157) (584) (261) (32,139) (7,653) (7,58) (1,713) (77,99) (2,82) (1,777) 755 (21,195) 23,41 (45,635) (15,73) 238,227 99,975 144,869 16,94 1,17,764 1 741 55 12 123,386 99,975 144,869 $1,256,93

29 3 31 28 3 31 27 3 31 8 注記 1 表示されている連結財務諸表の基礎 2- v 28 27 29 29 3 31 198.23 注記 2 重要な会計方針 a 27 3 31 23 1 31 25 12 27 7 26 12 22 1 b 29 6828 77 2787 c 29 1 28 9 27 9 d 3 e f 4 a b cd 22 29 3 31 28 3 31

g 18 7 5 9 29 3 31 2,887 29,39 h 1998 4 1 27 3 3 6 27 3 3 83 27 4 1 28 3 31 27 3 31 2,553 2,681 2,686 28 3 31 27 3 31 5 i 5 j 5 27 3 31 k 5 6 17 19 3 3 13 6 1 18 19 3 3 16 l m 27 3 31 25 11 29 4 27 3 31 49 81

82 n o p 2 3 1 3 1 q r s t 27 3 31 25 12 27 6 25 12 27 9 u 27 3 31 25 12 27 8 26 5 31 11 27 3 31 454 v 26 5 17 18 643 862 w x

注記 3 短期借入金及び長期借入債務 29 3 1.37% 3.16% 28 3 1.6% 2.38% 1 29 28 29 28.61% 1.24% 5,716 $ 29.92% 1.3% 31 29.78% 1.36% 3,295 33,544 21.41% 1.47% 1,378 21.41% 1.47% 17,36 173,43 2111.21% 1.36% 8,328 84,781 2121.22% 1.34% 15, 2121.21% 1.36% 23,327 237,473 2131.21% 1.36% 4,144 42,187 29 3 1.15%1.98% 28 3 1.8%7.29% 2,7 2,992 27,487 5,47 4,412 51,378 2,139 82 21,775 66,16 39,61 672,55 1 (4,74) (6,41) (48,254) 61,276 33,2 $623,81 83 29 3 31 1 21 4 1 18,568 $189,26 211 4 1 11,29 114,11 212 4 1 26,533 27,111 213 4 1 4,271 43,479 214 4 1 695 7,75 29 3 31 28 3 31 1 29 28 29 25 25 $ 255 342 389 3,482 2,434 2,426 24,779 1,41 1,526 14,261 4,22 4,366 $42,777

84 注記 4 ストック オプション 29 3 31 25 6 24 944 2,534, 25 7 29 25 7 29 27 7 3 25 7 29 27 7 3 27 7 31 29 7 3 26 6 2 4 43, 26 8 14 26 8 14 28 8 14 26 8 14 28 8 14 28 8 15 21 7 3 26 6 2 1,86 2,71,5 26 8 14 26 8 14 28 8 14 26 8 14 28 8 14 28 8 15 21 8 13 25 6 22 18 18 25 8 3 25 8 3 27 7 3 27 7 31 212 7 3 25 6 22 5 1 77 353 26 4 28 26 4 28 27 7 3 27 7 31 212 7 3 25 12 12 5 3 44 3,5 25 12 12 25 12 12 27 12 12 27 12 13 215 12 12 22 6 26 3 2 32 456, 22 7 1 CSK 22 7 1 24 6 3 24 7 1 28 6 3 24 6 29 8 3 15 894,6 24 8 9 24 8 9 25 6 3 25 7 1 28 6 3 28 6 16 127 4 36 751,5 28 9 5 28 9 5 21 6 3 21 7 1 213 6 3 23 6 27 12 118 458, 23 8 1 23 8 1 25 6 3 23 8 1 25 6 3 25 7 1 28 6 3 26 6 28 6 93 598, 26 8 21 26 8 21 28 6 3 26 8 21 28 6 3 28 7 1 211 6 3 26 6 28 5 24, 28 8 28 28 8 28 211 8 31 28 8 28 211 8 31 211 9 1 216 8 31

29 3 31 25 6 24 26 6 2 26 6 2 25 6 22 25 6 22 25 12 12 43, 2,395,3 2,5 71,7 25 43, 2,323,6 2,25 2,234,2 1 3 43, 2,323,6 187,8 151,6 27 2,46,4 43, 2,172, 1 273 22 6 26 24 6 29 28 6 16 23 6 27 26 6 28 26 6 28 566, 751,5 24, 13,4 3, 563, 738,1 24, 69, 273, 136, 563, 45, 24, 273, 136, 563, 85 29 3 31 25 6 24 26 6 2 26 6 2 25 6 22 25 6 22 25 12 12 22 6 26 3,47 4,235 4,235 1,7, 1,53,914 5, 255 29 51 59 24 6 29 28 6 16 23 6 27 26 6 28 26 6 28 288 28 413 472 268 9 126 62

1 25 6 24 26 6 2 26 6 2 25 6 22 25 6 22 25 12 12 22 6 26 $35 $43 $43 $17,36 $1,729 $59 $3 3 5 5 1 24 6 29 28 6 16 23 6 27 26 6 28 26 6 28 $3 $3 $4 $5 $3 1 1 1 注記 5 退職給付引当金 29 3 31 28 3 31 1 86 29 28 29 24,925 24,831 $ 253,741 (3,934) (3,43) (4,49) 128 273 1,33 11 112 (1,257) (12,431) (14,418) 1,873 9,27 $ 11,689 29 3 31 28 3 31 27 3 31 1 29 28 27 29 2,251 2,452 2,23 $22,916 429 454 393 4,367 (28) (312) (255) (2,85) 1,616 415 47 16,451 (144) (91) (91) (1,466) 4,81 2,773 149 48,875 344 357 359 3,52 9,17 6,48 3,165 $91,795 29 28 27 1.5 2.5% 2. 2.5% 2. 2.5% 1. 2.5% 1. 2.5% 1. 2.5%

注記 6 偶発債務 29 3 31 28 3 31 1 29 28 29 133 4 $ 1,354 1 182 1,18 1 33 1 2,286 23,272 Sega Shanghai & Co., Ltd. 72 43 733 1 注記 7 純資産 26 5 1 26 5 1 2 1 1% 25% 25% 29 5 15 3,779 38,471 29 3 31 注記 8 土地の再評価 1998 3 31 34 21 3 31 19 1998 3 31 119 2 3 5 22 3 31 注記 9 法人税等 29 3 31 28 3 31 27 3 31 4.7% 29 3 31 28 3 31 27 3 31 87

29 3 31 28 3 31 1 29 28 29 6,559 8,861 $ 66,772 2,244 2,815 22,844 1,26 1,761 12,827 4,422 3,76 45,17 22,433 2,831 228,372 9,48 8,98 95,775 2,65 2,464 21,22 2,271 48,688 32,19 495,653 18,39 19,66 186,389 115,388 13,539 1,174,671 (15,85) (93,825) (1,69,785) 1,33 9,714 14,886 88 (336) (587) (3,421) (1,318) (836) (13,417) (1,654) (1,423) (16,838) 8,649 8,291 $ 88,48 注記 1 有価証券の時価情報 29 3 31 1,9 1,728 (172) 1 $19,342 $17,591 $(1,751) 29 3 31 59 998 48 11,839 1,262 (1,577) 3, 2,563 (437)

1 $ 6,6 $ 1,16 $ 4,154 12,523 14,469 (16,54) 3,541 26,92 (4,449) 29 3 31 52 529 331 28 3 31 1,195 1,195 28 3 31 576 1,487 911 2,1 2,4 3 56 56 11,783 11,648 (135) 3,51 3,45 (456) 89 28 3 31 5,872 4,441 21 27 3 31 4,343 122 注記 11 貸付有価証券 29 3 31 28 3 31 172 1,751 249 注記 12 研究開発費 29 3 31 28 3 31 27 3 31 59,676 67,513 65,385 52,17

注記 13 減損損失 29 3 31 6,46565,816 9 1 23 $ 2,67 49 499 3 31 166 1,69 63 641 2 2 86 875 51 519 5 51 94 957 41 417 2 2 94 957 32 326 4 41 115 1,171 9 92 83 845 37 377 2 2 76 774 39 397 1 1 25 2,87 54 55 25 256 2 2 82 1,23 1,414 2,471 25,155 24 244 15 443 4,51 233 2,372 183 1,863 545 5,548 6,465 $65,816

28 3 31 9,218 1,414 47 253 518 1 333 79 1 273 2 3 132 1 468 771 1 468 491 26 756 18 255 1 1 511 164 32 133 1,78 28 4 182 7 263 32 15 9,218 91 15%17%

27 3 31 1,76 92 167 5 134 21 1 116 13 112 2 94 11 7 132 82 5 27 22 486 29 72 1,76

注記 14 店舗閉鎖損失 注記 15 事業撤退損 注記 16 リース取引に関する情報 29 3 31 28 3 31 29 3 31 : 255 145 11 1,176 91 275 1,427 921 61 445 175 13 72 466 294 7 165 3,499 2,364 68 1,67 93 1 29 3 31 : $ 2,596 $ 1,476 $ $ 1,12 11,972 9,172 2,8 14,526 9,376 621 4,529 1,782 1,49 733 4,744 2,993 71 1,68 $35,62 $24,66 $692 $1,862 28 3 31 : 28 128 152 1,82 995 825 2,24 1,189 69 946 555 34 215 55 21 6 289 5,364 2,862 75 2,427

29 3 31 28 3 31 1 29 28 29 1 686 1,36 $ 6,984 1 421 1,3 4,286 1,17 2,66 $11,27 21 75 $ 214 29 3 3128 3 31 27 3 31 1 94 29 28 27 29 1,184 1,765 1,97 $12,53 53 72 54 1,12 1,669 1,882 11,42 75 72 5 88 99 59 注記 17 デリバティブ取引 27 3 31 23 24 1

注記 18 株主資本 29 3 31 28 3 31 29 28 283,229,476 283,229,476 283,229,476 283,229,476 29 28 31,292,7 31,276,992 2,892 2,735 7,166 5,72 31,35,733 31,292,7 注記 19 セグメント情報 A. 29 3 31 1 161,691 61,927 71,311 131,362 2,94 429,195 429,195 2 799 3,54 19 33 1,56 5,681 (5,681) 162,49 65,431 71,33 131,665 3,96 434,876 (5,681) 429,195 147,962 58,54 78,851 132,66 3,66 421,565 (734) 42,831 14,528 6,891 (7,521) (941) 354 13,311 (4,947) 8,364 133,9 25,896 51,32 88,885 3,894 33,895 12,44 423,939 5,32 2,81 15,99 3,476 178 26,946 (31) 26,645 286 8 5,221 878 6,465 6,465 4,517 1,1 14,893 4,823 98 25,431 1,179 26,61 95

1 1 $1,646,45 $63,428 $725,96 $1,337,29 $29,563 $4,369,286 $ $4,369,286 2 8,134 35,672 193 3,85 1,75 57,834 (57,834) 1,654,179 666,1 726,153 1,34,375 4,313 4,427,12 (57,834) 4,369,286 1,56,281 595,949 82,718 1,349,954 36,71 4,291,612 (7,473) 4,284,139 $ 147,898 $ 7,151 $ (76,565) $ (9,579) $ 3,63 $ 135,58 $ (5,361) $ 85,147 $1,363,128 $263,626 $522,447 $ 94,866 $39,642 $3,93,79 $1,222,7 $4,315,779 $ 53,975 $ 21,185 $161,957 $ 35,386 $ 1,812 $ 274,315 $ (3,64) $ 271,251 $ 2,912 $ 815 $ 53,151 $ 8,938 $ $ 65,816 $ $ 65,816 $ 45,984 $ 11,198 $151,613 $ 49,99 $ 998 $ 258,892 $ 12,3 $ 27,895 1. 5 2. 1 2 3 4 5 3. 4,749 48,346 4. 119,365 1,215,158 96 28 3 31 1 145,583 71,62 91,227 141,791 9,314 458,977 458,977 2 884 4,34 7 475 1,483 7,189 (7,189) 146,467 75,42 91,234 142,266 1,797 466,166 (7,189) 458,977 138,23 68,25 11,41 148,255 1,872 466,441 (1,635) 464,86 8,444 7,152 (9,87) (5,989) (75) (275) (5,554) (5,829) 128,28 42,94 85,845 114,742 3,31 374,82 94,823 469,643 21,341 3,62 17,161 4,477 296 46,337 (726) 45,611 1,21 122 6,44 1,462 2 9,218 9,218 23,829 2,257 15,91 4,391 3,414 49,81 621 5,422 1. 5 2. 1 2 3 4 5 3. 5,76 4. 94,945 5. 27 3 3 6 27 3 3 83 27 4 1 425 213 1,76 3127 6. 26 5 17 18 26 383

27 3 31 1 211,54 75,455 13,85 119,593 17,8 528,238 528,238 2 2,17 4,165 9 24 1,834 8,418 (8,418) 213,71 79,62 13,859 119,833 19,634 536,656 (8,418) 528,238 142,68 67,937 13,727 118,84 2,979 453,335 (1,627) 451,78 71,12 11,683 132 1,749 (1,345) 83,321 (6,791) 76,53 118,581 46,524 16,318 111,752 11,593 394,768 155,172 549,94 5,332 2,43 18,52 3,216 362 29,365 (1,317) 28,48 89 494 322 1,76 1,76 8,79 3,333 4,754 5,676 346 58,899 373 59,272 1. 5 2. 1 2 3 4 5 3. 7,14 4. 157,478 97 B. 29 3 31 1 357,236 35,316 32,858 3,785 429,195 429,195 2 2,616 3,965 3,366 838 28,785 (28,785) 377,852 39,281 36,224 4,623 457,98 (28,785) 429,195 369,493 38,897 34,93 4,54 447,797 (26,966) 42,831 8,359 384 1,321 119 1,183 (1,819) 8,364 312,91 21,41 14,717 1,512 35,549 73,39 423,939 1 1 $3,636,73 $359,524 $334,5 $38,532 $4,369,286 $ $4,369,286 2 29,875 4,364 34,267 8,531 293,37 (293,37) 3,846,65 399,888 368,767 47,63 4,662,323 (293,37) 4,369,286 3,761,59 395,979 355,319 45,851 4,558,658 (274,519) 4,284,139 $ 85,96 $ 3,99 $ 13,448 $ 1,212 $ 13,665 $ (18,518) $ 85,147 $3,185,483 $217,958 $149,822 $15,392 $3,568,655 $ 747,124 $4,315,779 1. 2. 1... 2... 3... 3. 4,749 48,346 4. 119,3651,215,158

28 3 31 1 366,169 45,3 43,153 4,625 458,977 458,977 2 26,738 6,7 4,22 794 37,759 (37,759) 392,97 51,37 47,373 5,419 496,736 (37,759) 458,977 47,438 47,72 4,956 4,692 5,86 (36,) 464,86 (14,531) 3,317 6,417 727 (4,7) (1,759) (5,829) 457,636 23,842 27,449 3,271 512,198 (42,555) 469,643 1. 2. 1... 2... 3... 3. 5,76 4. 94,945 27 3 31 9% C. 98 29 3 31 46,295 35,114 11,598 93,7 429,195 1.8% 8.2% 2.7% 21.7% 1 $471,292 $357,467 $118,7 $ 946,829 $4,369,286 1.8% 8.2% 2.7% 21.7% 28 3 31 5,17 47,668 1,249 17,934 458,977 1.9% 1.4% 2.2% 23.5% 27 3 31 37,35 24,781 7,561 69,377 528,238 7.% 4.7% 1.4% 13.1%

注記 2 関連当事者との取引 29 3 31 29 29 24 2 4 1 29 29 $2,443 $ 24 41 1. 53% 2. 29 3 31 29 29 2,5 99 2,5 32 38 23 5 1 29 29 $25,45 $ 25,45 326 387 234 51 1. 53% 2. 11 18 1 17 13 18 1 17

28 3 31 28 28 32 26 5 1. 53% 2. 27 3 31 27 27 25 26 7 1 1. 53% 2. 注記 21 企業結合 27 3 31 1. Sports Interactive Ltd. 1 Sports Interactive Ltd. Sega Holdings Europe Ltd.Sports Interactive Ltd. 26 4 3 1.% 2 26 4 4 27 3 31 3 Sports Interactive Ltd. 7,567 15 7,672 4 7,671 15 5 145 5 15 149 149

6 1 7 2. Secret Level, Inc. 1 Secret Level, Inc. Sega Holdings U.S.A., Inc.Secret Level, Inc. 26 4 3 1.% 2 26 4 4 27 3 31 5 265 692 957 349 55 44 6 3. Sega Amusement Works, LLC 1 Sunshine Entertainment Holdings, LLC Sega Amusement Works, LLCSunshine Entertainment Holdings, LLC 26 12 1 Sega Amusement Works, LLC 11 3 2 26 12 1 27 3 31 Secret Level, Inc. 1,772 24 1,796 4 1,243 1 3 Sega Amusement Works, LLC 1,417 1,417

4 537 1 6 2,16 46 21 Sega Amusement Works, LLC 5 12 418 988 1,46 253 31 284 注記 22 1 株当たり情報 1 1 1 29 28 27 29 1 882.47 1,3.9 1,341.8 $ 8.98 1 (9.83) (28.26) 172.47 (.92) 1 172.35 29 3 31 28 3 311 1

29 3 31 28 3 31 29 3 31 3 29 3 31 28 3 31 29 3 31 3 1 226 4 1 2 2 27 4 1 3 227 4 1 13 29 3 31 1 29 6 18

www.segasammy.co.jp

MILESTONES 1 UFO 1951 196 [] 1 1964 1965 1966 1969 1983 8bitSG1 1984 CSKCSK 1985 U.S.A UFO 1986 1988 16bit 199 36 R36 1991 1992 1993 3D-CG 1994 32bit 1995 1996 1998 1999 DERBY OWNERS CLUB 2 RPG 22 1 Bee SHIBUYA 23 SEGA SEGA/ATLUS BANPRESTO SP Sammy CR 1975 1947 1978 1981 1982 1989 199 1991 1995 CR 1997 Sammy s Street 156 1998 1999 2 9 SP 21 OEM i 777 AT 22 ADR American Depositary Receipts 23 24 CR Sammy s Street 118 CT 3

24 ALL.NetSEGA & SEGA 25 CR (Sammy The Creative Assembly Ltd.SEGA SEGA SEGA 26 SPORTS INTERACTIVE Ltd. SEGA SECRET LEVEL, Inc.SEGA SESammy 1 Sammy 27 2 Sammy Sammy & AT SEGA 28 CR Sammy 15-21 9 2 SEGA Printed in Japan