1. November 18, 2011 Results for the First Half of Fiscal Year Ended March 31, 2012 This datum is based on the data as of September 30, 2011. The opinion and forecast described here is based on our judgment at that time and may possibly be changed without notice.

2. 1 Subject 1. Operating results for the First Half of Fiscal Year Ended March 31, 2012 2. Forecast for the Year Ended March 31, 2012 3. Business Challenges

3. 2 1.Operating results for the First Half of Fiscal Year Ended March 31, 2012

4. 3 1-1 Summary of Consolidated Financial Results for the Six Months Ended September/2011 （ Million yen ） FY2011 1H FY2012 1H Change Original Forecast (as of 13th May) Vs. Original Forecast (amount) AmountRatio Net Sales 16,15913,096-3,062-19.0%12,500596 Operating Income 393409164.1%150259 （ Margin ） 2.4%3.1%--1.2%1.9% Ordinary Income 211190-20-9.8%50140 （ Margin ） 1.3%1.5%--0.4%1.1% Net Income 9317-75-80.9%-150167 （ Margin ） 0.6%0.1%---1.2%1.3%

5. 4 1-2 Highlight ◆ Decrease in sales and income year on year Net sales decreased 19.0% year on year mainly due to exclusion of Motor business subsidiary, Fuji Micro Co., Ltd. and the impact of the earthquake. Although operating income increased 4.1% thanks to improved gross margin rate and reductions in SGA costs, the net income decreased 80.9% to \17 million, because of factors such as recorded extraordinary loss and the foreign exchange loss. Both sales and income performed over the original forecast. ◆ Income improved in Plastic business Sales in Precision Springs and Plastics decreased mainly in OA equipment and automotive market due to the impact of the earthquake, though it was improved in the second quarter. Profitability in Plastic business both in domestic and overseas was improved. Domestic income in Precision Springs was improved, although it was decreased in overseas. ◆ Loss decreased due to the downsizing of Hinge business Although the loss was increased compared to the forecast due to the delay of downsizing the business, it was reduced by rise in sale prices and reduction of fixed costs such as labor cost in the second quarter.

6. 5 1-3 Trend of Sales and Income （ Consolidated ） FY2012 1H （ Million yen ） FY2011 1H Net Sales Net Income FY2012 1HFY2011 1H FY2012 1H Operating Income ・ Margin(%) FY2011 1H FY2012 1H （ Million yen ） (%)

7. 6 1-4 Quarterly Transition of Sales and Income （ Consolidated ） Operating Income ・ Margin(%) Net Income Net Sales Mar ‘11 Mar. ‘12 Mar ‘11 Mar. ‘12 Mar ‘11 Mar. ‘12 (Million yen ）

8. 7 （ million yen ） 1-5 Analysis for Change of Operating Income （ Consolidated ） FY2012 1H Decrease in fixed cost （ personnel cost and etc. ） FY2011 1H Decrease in sales （ other than motor business ） Exclusion of motor business and etc. Decrease in variable cost （ product mix, price raise, cost cut ） Since Motor business subsidiary was changed consolidated subsidiary to equity method affiliate, net sales and operating income decreased 2,274 million yen and 89 million yen respectively year on year. Net sales besides Motor business decreased 788 million yen due to the impact of the earthquake. D eclined income caused by sales decrease was covered by a d ecrease in variable cost for domestic Spring and Plastic business and a decrease in fixed cost by downsizing of Hinge business. 409 234 393 -73 -274 128

9. 8 1-6 Net Sales and Operating Income by Business Segment Net Sales Operating Income ＜ Factors for change from First Half of the previous year ＞ FY2011 1H FY2012 1H Precision Springs ・ Sales in the OA equipment and automotive markets decreased due to the impact of the earthquake. ・ Though domestic earnings were improved due to the increase of profitable products, total earnings decreased because of decreased sales and increased labor costs in overseas markets. ＜ Sales ： -1.5%, Operating Income ： a decrease of \168 million ＞ Plastics ・ Sales to automotive markets decreased due to the impact of the earthquake. ・ Earnings were improved due to the increased sales of profitable products in domestic markets and rise in product price and cost reduction in China. ＜ Sales ： -10.1%, Operating Income ： an increase of \ 127 million ＞ Hinges ・ Net sales decreased due to the downsizing of mobile phone handset. ・ Loss amount decreased by rise in sale price and reduction of fixed costs such as labor cost after the second quarter. ＜ Sales ： -9.7%, Operating Loss ： a decrease of \ 145 million ＞ Motors (excluded from business segment) As of the first quarter of this fiscal year, motor segment is excluded because Motor business subsidiary, Fuji Micro Co., was changed from consolidated subsidiary to equity method affiliate. Precision SpringsPlasticsHinges Motors （ Million Yen ） Precision Springs Plastics Hinges Motors FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H （ Million Yen ）

10. 9 1-7 Net Sales and Operating Income by Geographical Segment Operating Income Net Sales ＜ Factors for change from First Half of the previous year ＞ Japan In addition to the decreased sales due to exclusion of Motor subsidiary, sales in Plastics decreased due to the impact of the earthquake. Hinge business was also downsized. In Plastics, earnings were improved due to the increase of profitable products. Loss in Hinge business decreased after 2nd quarter. ＜ Sales ： -24.4%, Operating income ： an increase of \188 million ＞ Overseas ・ In Europe, sales and income decreased due to decreased sales of Tangless Coilthread. In Asia, though earnings in Plastics were improved, sales and income in Precision Springs decreased in Singapore and China affected by the earthquake in Japan, etc. ＜ Sales ： -8.3%, Operating Income ： a decrease of \170 million ＞ FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H FY2011 1H FY2012 1H （ Million Yen ）

11. 10 1-8 Net Sales by Market （ Million yen ） Mar/2011Mar/2012Change 1H% %Amount% OA equipment4,75829.4%3,85729.5%-900-18.9% Automotive3,24220.1%3,00522.9%-236-7.3% PC and PC related7284.5%1,1088.5%38152.3% Mobile phone and related 1,0546.5%8136.2%-241-22.9% AV/ Home appliance1,1787.3%7645.8%-414-35.2% Precision Components7924.9%8876.8%9511.9% Medical and Healthcare equipment 5283.3%4093.1%-119-22.5% Household equipment1,95412.1%9016.9%-1,054-53.9% Others1,92511.9%1,35210.3%-573-29.8% Total16,159100.0%13,096100.0%-3,063- 19.0 %

12. 11 1-9 Consolidated Cash Flows ＜ Status of CF for 1H of Mar ’12 ＞ Free CF -134Free CF -59 FY2011 1H Operating CF Net cash increased \492 million due to the fund reserve reflecting depreciation and amortization, etc. Investing CF The fund decreased \551 million by capital investment to production sites in Japan and Asian countries. Financing CF The fund decreased \30 million by the repayment of lease obligations. A decrease in debt by excluding Motor subsidiary was offset by an increase in borrowing for Plastic business. Cash/ equiv. FY2012 1H

13. 12 2. Forecast for the Year Ended March 31, 2012

14. 13 2-1 Forecast for FY ended March 2012 (Consolidated ） （ Million yen ） FY Ended March 2011 Forecast for FY Ended March 2012 Y to Y Change (amount) Original Forecast (as of 13th May) Vs. Original Forecast (amount) Net Sales 31,45925,000-6,45926,000-1,000 Operating Income 552700148850-150 Operating Income ratio 1.8%2.8%1.0%3.3%-0.5% Ordinary Income 32636034590-230 Net Income -15250202330-280

15. 14 2-2 Forecast for FY ended March 2012 ◆ Decrease in both net sales and income for the full FY2012 Although net sales and income resulted better than original forecast for 1st Half, income in the 2 nd Half of FY2012 is expected to be decreased due to decreased sales in Precision Spring and Plastic business. Decrease in income for the full FY2012 will be forecasted due to increased loss due to the delay in downsizing Hinge business. Compared with the previous year, a decrease in sales, but an increase in income will be expected. ◆ Slow down in Precision Spring business from the 3Q Less orders from PC related and OA equipment markets are expected both in domestic and overseas from the 3rd quarter due to customers’ production adjustment. In addition, a decrease in sales at our subsidiary in Thailand which suffered from the historical flood and customers’ production adjustment both in domestic and overseas operations given the parts shortage are expected. A decrease of \500 million in net sales and a decrease of \150 million in operating income will be forecasted. ◆ Extraordinary loss recorded from share exchange An extraordinary loss of \122 million will be recorded from the share exchange to make Strawberry Corporation a wholly-owned subsidiary of Advanex in the 3 rd quarter. Its influence will be reduced by an extraordinary income from the change in employee pension plan.

16. 15 2-3 Transition of Sales and Income (Consolidated) Operating Income ・ Margin （％） 1H/112H/111H/122H/12 F Mar. ‘11Mar. ’12 F Net Income Mar. ‘11Mar. ’12 F Net Sales （％） （ Million yen ）

17. 16 2-4 Revision of Segment Forecast 31,459 ＜ Reasons for revisions ＞ 26,00025,000 Although sales and income in Precision Spring business resulted better than the original forecast in the 1 st half, they are expected to be decreased due to the less orders in PC related and OA equipment markets in the 2nd half. In addition, decrease of \500 million in net sales and \150 million in operating income is forecasted due to the historical flood in Thailand. In Plastics business, profitability both in domestic and overseas will be improved, while net sales will decrease. In Hinge business, net sales will be increased due to the delay in downsizing the business, and net loss will be expanded. Operating Income Net Sales (Million yen)

18. 17 3. Business Challenges

19. 18 3- １ Flood Damage of Factory in Thailand （１） Location ： High Tech Industrial Estate in Ayutthaya Province (The Central part of Thailand) Oct. 6 Started transferring wire spring manufacturing machines and forming machines to the neighborhood Oct. 11 Stopped operation and started evacuation of employees Oct. 13 High Tech IE was flooded and press machines in the factory were submerged Oct. 18 Started re-transferring machines except press machines to Amata Nakorn IE in Chonburi Province Oct. 24 Took out the die set for press and moved them to Kashiwazaki Factory and other factories Nov. 1 Started operation at the factory in Amata Nakorn as the 2 nd factory Impact on Business Performance High Tech IE starts pumping out water from 8th Nov. and expects the water level being lowered within 2 to 3 weeks. The date of restarting production is uncertain because many of the Japanese customers were submerged. The impact will be expanded in domestic and overseas of Thailand due to the cut off supply chains. In Precision Springs and Plastics, decrease of \500 million in net sales and \150 million in operating income is forecasted from decreased production in Thailand and Asian subsidiaries at this stage.

20. 19 3-1 Flood Damage of Factory in Thailand （２） Submerged Ayutthaya Factory （ Photo ： Oct. 16 ） Taking out die set evacuated in Double-deck Container （ Photo ： Oct. 25 ）

21. 20 3-2 Establishment of 2nd factory in Thailand Details of the 2nd factory in Thailand Location ： Amata Nakorn Industrial Estate in Chonburi Province (57km from Bangkok and many Japanese Automotive makers around) Building area: 2,875 ㎡ （ 1st Factory : 3,300 ㎡） Background ： A plan for factory foundation sometime in 2012 to deal with demand for springs in East part of Thailand. Advanced the foundation to Nov.1st, 2011 Products ： Wire springs and forming processing for the time being. Press machines are u nder arrangement. No of employees ： 170 employees moved from the 1st factory temporarily Photo: Oct. 18

22. 21 3-3 Making Strawberry Corporation Advanex’s wholly-owned subsidiary Share exchange conducted on Nov. 1 st, 2011 ・ Allocated 92 shares of common stock of Advanex to one share of Strawberry Number of shares allocated ： 1,843,956 Number of new shares issued ： 1,378,071 (3.4% of shares outstanding) ・ Goodwill of 112 million yen was booked as an impairment loss. An extraordinary loss will be recorded in 3Q ・ Strawberry was delisted from JASDAQ on October 27, 2011 Purpose and business plan ・ Strawberry announced to downsize hinge sales to mobile phone handset market this April. As withdrawal from this business was much delayed, Strawberry recorded greater loss than the original forecast and it put the company in the state of asset deficiency of 770 million yen. Loss of 140 million yen is forecasted for the 2nd half of this fiscal year. ・ By making Strawberry Advanex’s wholly-owned subsidiary, we will reduce cost by integrating all the redundant functions of two companies and exercise flexible funding to support their business. Accelerate making them fabless by tranfering production within the group. ・ Finish production of unprofitable hinge unit to mobile phone handset by March 2012. Continue sales for PC market for the time being. In future, we will develop market such as automotive, housing related and medical market.

23. 22 3-4 Business Challenges （ Summary ） Precision Springs ・ Expand business network in overseas Strengthen Advanex brand in overseas Factory foundation （ India next to the 2nd factory in Thailand ） ・ Strengthen the development of high value added products Plastics ・ Increase of sales in overseas and improvement of profitability Corresponding to overseas transfer of Japanese customers Enforcement of sales especially in China and support from Japan ・ Strengthen development of high perfomance gear product to increase profitability Hinges ・ Complete structural reform Assumption of Strawberry’s debt and withdrawal from unprofitable business Making Mid-term business plan within this year. Improving the financial structure and promoting structural reform.

24. 23 （ CONTACT ） ADVANEX INC. Corporate Communication Dept. TEL ： 81-3 - 3822 - 5865 FAX ： 81-3 - 3822 - 5873 URL ： http://www.advanex.co.jp