Nov/ 9/2000

TOYODA AUTOMATIC LOOM WORKS, LTD.
Consolidated Semiannual Financial Results for FY2001("Chuukan Kessan Tanshin (Renketsu)")
1. FINANCIAL SUMMARY (Apr/1/2000 - Sep/30/2000)
Millions of yen
FY2001 (1half) FY2000 (1half)
Variance(4/00 - 9/00)(4/99 - 9/99)

FY2000(4/99 - 3/00)

Net Sales

344,229

291,186

53,043625,772

Operating Income

21,484

11,711

9,773

28,867

Ordinary Income

20,123

10,685

9,438

27,162

Income before Income Taxes

13,817

10,685

3,132

27,162Net Income

7,952

4,932

3,020

13,686

Total Assets

1,781,881

667,367

1,114,514

685,914873,349

309,805

563,544316,293

28.07

17.41

10.66

48.32

3,083.21

1,093.72

1,989.49

1,116.62

Shareholders' Equity
Per Common Share (in yen)
Net Income
Shareholders' Equity

Notes: 1. We have 91 consolidated subsidiaries, four unconsolidated subsidiaries and 19 affiliates as of September 30, 2000.
The equity method is applied to the investments in two unconsolidated subsidiaries and 12 affiliates.
2. Disclosure item and account classification are based on the disclosure rule in Japan.
3. From the six months ended September 30, 2000, we have adopted "mark-to-market accounting" due to the applicationof the new accounting standards for financial instruments. We also have applied the new accounting standards for
retirement benefits and the amended accounting standards for foreign currency transaction.

2. FORECASTS FOR FY2001 (Apr/1/2000 - Mar/31/2001)

FY2001Millions of yen
FY2000(4/00 - 3/01)(4/99 - 3/00)

Variance

Net Sales

750,000

625,772

124,228

Operating Income

44,00028,867

15,133

Ordinary Income

43,00027,162

15,838Net Income

22,00013,686

8,314

70.22

48.32

21.90

Net Income per Share (in yen)

Note: Because we newly issued 30 million shares on October 11, 2000, net income per share for FY2001 was computed
based on the number of shares including the new shares.

-1-3. CONSOLIDATED BALANCE SHEETS
FY2001 (1half)

Millions of yen
FY2000
Variance

FY2000 (1half)(as of 9/30/00)(as of 3/31/00)

241,692

195,289

Cash and deposits

60,43670,037(9,601)54,295

Receivables―trade87,19566,45820,73764,429Marketable securities

16,577

13,314

3,263

12,173Inventories

47,17630,214

16,96230,865

Deferred tax assets

7,133

4,556

2,577

3,889

Other current assets

24,179

11,096

13,083

11,295Less―allowance for doubtful receivables(1,005)

(389)

(616)

(280)

(as of 9/30/99)

ASSETS
Current Assets

46,403

176,668

1,540,189

479,932

1,060,257

486,910281,206

258,705

22,501

271,494

Buildings and structures

87,27083,771

3,499

85,212

Machinery, equipment and vehicles

130,218

117,066

13,152

123,252

Tools, furniture and fixture

14,85813,120

1,738

16,000Land

37,41136,455956

36,420Construction in progress

11,448

8,290

3,158

10,60883,1801,522

81,658

1,475

Software

1,444

1,522

(78)

1,475

Consolidation difference

81,735-81,735-

1,175,802

219,703

956,099

213,940

1,140,954

191,201

949,753

186,919

Long-term loans

6,895

14,622(7,727)

14,513Long-term prepaid expenses

2,652

1,575

1,077

1,593

Deferred tax assets

1,181

5,311

(4,130)

4,828

Other investments and other assets

24,203

7,044

17,1596,136

Less―allowance for doubtful investments

(85)

(51)

(34)

(51)

10,693(10,693)

3,788

685,914 1,095,967

667,367

Fixed Assets
Property, Plant and Equipment

Intangible Assets

Investments and Other Assets
Investments in securities

Translation Adjustment
Total Assets

1,781,881-2-

Millions of yen
FY2001 (1half)

FY2000(as of 9/30/00)(as of 3/31/00)

Current Liabilities

209,910

Payables―trade

Variance

FY2000 (1half)

145,882

64,028133,291

92,934

78,113

14,82164,918

Short-term bank loans

14,987

10,299

4,688

9,122

Commercial paper

20,000-20,000-

Other payables

16,34910,578

5,771

13,856

Accrued expenses

30,83919,593

11,24621,157

Accrued income taxes

9,338

8,020

1,318

4,991

Employees' savings deposits

17,921

17,84180

17,652

Deferred tax liabilities

17

-

17

-

Other current liabilities

7,521

1,435

6,086

1,593

680,904

203,419

477,485

Straight bonds

140,300

100,300

40,000100,300

Convertible bonds

75,74875,748-75,748Long-term bank loans

50,184

5,023

45,161

5,949

Deferred tax liabilities

387,492

2,041

385,451

2,023

Provision for retirement and severance benefits

23,156

18,814

4,342

19,420Consolidation difference

-

102

(102)

146

Other long-term liabilities

4,023

1,388

2,635

883

890,815349,301

541,514337,763

17,716

20,319(2,603)

19,798

Common Stock40,17840,178-40,178

Capital Surplus

60,67260,672-60,672Retained Earnings

220,949

215,4635,486

208,976

Unrealized Gains on Securities

558,226-

558,226-

Translation Adjustment(6,655)-(6,655)-

Treasury Stock at Cost

(1)

(0)

(1)

(1)

Treasury Stock Owned by Subsidiaries

(20)

(20)

-

(20)

Total Shareholders' Equity

873,349

316,293557,056

309,805

Total Liabilities and Shareholders' Equity

1,781,881

685,914

1,095,967

667,367(as of 9/30/99)

LIABILITIESLong-term Liabilities

Total Liabilities
Minority Interests in Consolidated Subsidiaries

204,471

SHAREHOLDERS' EQUITY-3-

(NOTES TO CONSOLIDATED BALANCE SHEETS)

FY2001 (1half)

Millions of yen
FY2000(as of 9/30/00)(as of 3/31/00)

1. Accumulated depreciation ofproperty, plant and equipment

Variance

391,499

358,153

33,346(1) Acquisition cost

7,662

7,720

(58)

(2) Accumulated depreciation

3,740

3,585

155

(3) Obligations under finance leases

3,921

4,134

(213)

< 1,352 >< 1,500 >< (148) >

874

1,749

-

2,068

368

1,700

< 784 >

< 203 >

< 581 >

17,1993,305

13,894549 shares

436 shares

113 shares

1

0

1

36,000 shares

36,000 shares- shares

20

20

-

2. Finance lease which do not transfer
ownership of leased assets to lessees<due within one year>(4) Lease payments for period
3. Operating lease
Obligations under operating leases<due within one year>

4. Contingent liabilities
5. Treasury stock at cost
Number of shares
Amount
6. Treasury stock owned by consolidated subsidiaries
Number of shares
Amount7. Provision for retirement and severance benefits for directors and corporate auditors of¥ 2,586 million is contained in provision for retirement and severance benefits.

-4-4. CONSOLIDATED STATEMENTS OF INCOME
Millions of yen
FY2001 (1half) FY2000 (1half)

Variance

FY2000(4/00 - 9/00)(4/99 - 9/99)

Net Sales

344,229

291,186

53,043625,772

Cost of sales

302,840

260,285

42,555557,553

Gross Profit

41,38930,900

10,48968,218Selling, general and administrative expenses

19,904

19,189715

39,351

Operating Income

21,484

11,711

9,773

28,867

Other Income

5,490

8,141

(2,651)

16,318Interest income

404

442

(38)

900

Dividend income

3,678

3,132

546

6,863

Other

1,408

4,565

(3,157)

8,553

Other Expenses

6,852

9,166

(2,314)

Interest expenses

1,452

1,191

261

2,531

Other

5,399

7,974

(2,575)

15,491

Ordinary Income

20,123

10,685

9,438

27,162

Special Gains

15,080-15,080-(4/99 - 3/00)

18,023Gain on securities contribution toemployee retirement benefit trust

15,080Special Losses

21,386-15,08021,386---

Cumulative effect of change inaccounting standards for retirement benefits

19,057-

19,057

-

2,329

-

2,329

-

Prior years' addition to provision for retirement andseverance benefits for directors and auditors

Income before Income Taxes

13,817

10,685

3,132

27,162

Income taxes

9,621

7,280

2,341

15,394

Deferred tax benefit(4,149)(1,838)(2,311)(2,811)

392

310

82

893

7,952

4,932

3,020

13,686

Minority interests in consolidated subsidiaries
Net Income-5-5. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Millions of yen
FY2001 (1half) FY2000 (1half)

Balance of Retained Earnings
at Beginning of Period

FY2000

Variance(4/00 - 9/00)(4/99 - 9/99)

215,463205,794

9,669

215,463

200,307

15,156200,307-

5,487(5,487)

5,487

701

(701)

701

701

(701)

Retained earnings at beginning of period
Prior years' deferred tax adjustments

Increase in Retained Earnings-(4/99 - 3/00)

205,794

Increase due to additions of
newly consolidated subsidiaries

-

2,466

2,453

13

2,266

2,266

0

4,532

200

186

14

186

7,952

4,932

3,020

13,686

220,949

208,976

11,973

215,463

Decrease in Retained Earnings
Cash dividends paid
Bonuses to directors and corporate auditors

Net Income
Balance of Retained Earnings
at End of Period

701

-6-

4,719

6. CONSOLIDATED STATEMENTS OF CASH FLOWSMillions of yen
FY2001 (1half)
FY2000(4/00 - 9/00)

Cash Flows from Operating Activities:
Net Cash Provided by Operating Activities(4/99 - 3/00)

36,092
13,817
19,690(34)(4,082)
1,452
1,394
2,748
(501)
(40)
8,595
43,0404,097(1,452)(9,593)68,057
27,16242,751(35)(7,764)
2,531
5,035(8,427)(1,998)14,563478
74,296
7,779(2,531)(11,486)(97,411)(1,004)2,682(17,056)382(5,232)
1,099
Payments for acquisition of subsidiaries' stock with changes in consolidation(86,136)
Payments for loans made
(1,689)Proceeds from collections of loans
9,356
Payments for acquisition of business
Other, net
187
Cash Flows from Financing Activities:
Net Cash Provided by Financing Activities
56,633
Increase (decrease) in short-term bank loans(131)
Proceeds from issuances of commercial paper
80,000
Repayments of commercial paper(60,000)
Proceeds from long-term bank loans
826
Repayments of long-term bank loans(1,174)
Proceeds from issuances of bonds
39,796
Cash dividends paid
(2,266)
Cash dividends paid for minority shareholders(414)
Other, net(2)
Translation Difference in Cash and Cash Equivalents
9
Net Increase (Decrease) in Cash and Cash Equivalents(4,675)
Cash and Cash Equivalents at Beginning of Period
77,332
Increase in Cash and Cash Equivalents
Due to Additions of Newly Consolidated Subsidiaries
Cash and Cash Equivalents at End of Period
72,656(67,186)(3,506)
7,607(52,081)
1,147(16,100)
25(10,502)
3,958(1,498)
3,764

Income before income taxes
Depreciation and amortization of intangibles
Decrease in allowances for doubtful receivables
Interest and dividend income
Interest expenses
Equity in earnings of affiliates(Increase) decrease in receivables
Increase in inventories
Increase (decrease) in payables
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid

Cash Flows from Investing Activities:
Net Cash Used in Investing Activities

Payments for purchases of securities
Proceeds from sales of securities
Payments for purchases of property, plant and equipment
Proceeds from sales of property, plant and equipment
Payments for purchases of investment securities
Proceeds from sales of investment securities

27,4991,933
1,633(1,031)
29,848(4,532)(329)(21)(1,806)
26,563
49,955813
77,332

Note: "Cash and cash equivalents" include all highly liquid investments, generally with original maturities of three months or less,that are readily convertible to known amounts of cash and are so near maturity that they present insignificant risk ofchanges in value because of changes in interest rates.

-7-7. SEGMENT INFORMATION(1) Business Segments① FY2001 1st Half (4/00 - 9/00)
Millions of yen
Materials
TextileAutomobile Handling
Machinery
Equipment

OthersSubtotal

Elimination ofinter-segment
transactions

Total

Net sales
1. Outside customer sales

228,788

82,272

14,39918,768344,229-344,229

2. Inter-segment transactions
Total

1,912

-

-

2,104

4,016

(4,016)-

230,700

82,272

14,39920,873

348,246(4,016)344,229

216,678

76,26914,66518,992

326,605(3,860)322,745

14,022

6,003

(265)

1,880

21,641(156)

21,484

OthersSubtotal

Elimination ofinter-segment
transactions

Operating costs and expenses
Operating income (loss)② FY2000 1st Half (4/99 - 9/99)
Millions of yen
Materials
TextileAutomobile Handling
Machinery
Equipment

Total

Net sales
1. Outside customer sales

197,356

72,784

9,237

11,808291,186-

291,186

2. Inter-segment transactions
Total

1,346

-

-

1,528

2,874

(2,874)-

198,70272,784

9,237

13,336

294,061(2,874)291,186

187,642

69,832

11,505

13,577

282,558(3,083)

279,475

11,0592,951(2,267)(240)

11,502

208

11,711OthersSubtotal

Elimination ofinter-segment
transactions

Operating costs and expenses
Operating income (loss)③ FY2000 (4/99 - 3/00)
Millions of yen
Materials
TextileAutomobile Handling
Machinery
Equipment

Total

Net sales
1. Outside customer sales

423,413

149,084

23,13430,140625,772-

625,772

2. Inter-segment transactions

3,335

-

-

2,613

5,948

(5,948)-

Total

426,748

149,084

23,13432,753631,721(5,948)625,772

Operating costs and expenses

402,319

143,335

26,10632,001

603,762(6,856)596,905

Operating income (loss)

24,4285,749(2,971)752

27,958908

28,867

Note: Main products of each segment ―Automobile … passenger vehicles, diesel and gasoline engines, car air-conditioning compressors
Materials Handling Equipment … counterbalanced forklifts, skid steer loaders, automated storage and retrieval systems
Textile Machinery … ring spinning frames, air jet looms, water jet looms
Others … ball grid array-type plastic package substrates for IC chipsets-8-

(2) Geographical Segments① FY2001 1st Half (4/00 - 9/00)
Millions of yen
Subtotal

Elimination ofinter-segment
transactions

9,657

344,229-344,229-286

13,910(13,910)-

300,936

47,2609,943

358,140(13,910)344,229

Operating costs and expenses

281,683

45,127

9,613

336,424(13,679)

322,745

Operating income

19,2532,132

330

21,715(231)

21,484

Japan

North
America

1. Outside customer sales

287,31247,2602. Inter-segment transactions
Total

13,624

OthersTotal

Net sales② FY2000 1st Half (4/99 - 9/99)
Millions of yen
Subtotal

Elimination ofinter-segment
transactions

7,149

291,186-

291,186

-

293

9,494

(9,494)-250,250

42,9887,442

300,681(9,494)291,186

242,098

39,8507,247

289,196(9,721)

279,475

8,151

3,138

194

11,484227

11,711

Japan

North
America

1. Outside customer sales

241,048

42,988

2. Inter-segment transactions
Total

9,201

OthersTotal

Net sales

Operating costs and expenses
Operating income③ FY2000 (4/99 - 3/00)
Millions of yen
Japan

North
America

OthersSubtotal

Elimination ofinter-segment
transactions

Total

Net sales
1. Outside customer sales

531,273

79,231

15,267625,772-

625,772

2. Inter-segment transactions

25,309-589

25,898(25,898)-

556,583

79,231

15,857

651,671(25,898)

625,772

Operating costs and expenses

533,987

74,546

15,358623,892(26,986)

596,905

Operating income

22,595

4,684

499

27,7791,087

28,867Total-9-

(3) Overseas Sales① FY2001 1half (4/00 - 9/00)
Millions of yen
North

OthersAmerica
54,249Overseas sales

59,006

Total
113,255
344,229

Total sales
Ratio of overseas sales to total sales (%)

15.8%

17.1%

32.9%

② FY2000 1st Half (4/99 - 9/99)
Millions of yen
North

OthersAmerica
47,164

Overseas sales

48,206

Total
95,370291,186

Total sales
Ratio of overseas sales to total sales (%)

16.2%

16.6%

32.8%

③ FY2000 (4/99 - 3/00)
Millions of yen
North
America
90,314

Overseas sales

OthersTotal

101,677

191,992
625,772

Total sales
14.4%

Ratio of overseas sales to total sales (%)- 10 -

16.3%

30.7%

8. BREAKDOWN OF CONSOLIDATED NET SALES
Millions of yen
FY2001 (1half)

FY2000 (1half)(4/99 - 9/99)(4/99 - 9/99)

Amount%Amount%Amount%Amount%Vehicle (Automobile assembly)

102,336

29.7

80,56827.7

21,76827.0

191,453

30.6

Engine46,79913.6

45,767

15.7

1,032

2.3

91,925

14.7

Car air-conditioning compressor

69,083

20.1

61,794

21.2

7,289

11.8

120,308

19.2

Foundry and others

10,569

3.1

9,225

3.2

1,344

14.6

19,726

3.2

Subtotal

228,788

66.5

197,35667.8

31,432

15.9

423,413

67.7

Materials Handling Equipment

82,272

23.9

72,784

25.0

9,488

13.0

149,084

23.8

Textile Machinery

14,399

4.2

9,237

3.2

5,162

55.9

23,134

3.7

Others

18,7685.4

11,808

4.0

6,960

58.9

30,1404.8

Total

344,229 100.0

291,186 100.0

53,04318.2

FY2000

Variance(4/99 - 3/00)

Automobile- 11 -

625,772 100.0

9. SECURITIES(1) Held-to-maturity securities with market value
Not applicable.
(2) Other securities with market value are as follows:

Millions of yen
FY2001 (1half)(as of 9/30/00)

Stocks
Bonds
Corporate bonds
Other bonds
Other
Total

Acquisition cost
165,251

Book value
1,114,680

Difference
949,429

9,096
2
121
174,471

9,063
2
121
1,123,868(32)
949,396(3) Contents and book value of main "securities" not practicable to market value
Not applicable.
・Held-to-maturity securities
・Other securities are as follows:
Millions of yen
13,003
7,986
2,999
942
310

Domestic unlisted stocks excluding over-the-counter stocks
Bonds used in repurchase agreements
Commercial paper used in repurchase agreements
Money management funds
Foreign unlisted bonds(4) Marketable securities at the end of the previous year were as follows:

Millions of yen
FY2000(as of 3/31/00)

Book value
Current
Stocks
Bonds
Other
Subtotal
Non-current
Stocks
Bonds
Other
Subtotal
Total

Market value

Valuation profit

392
2
394

1,255
2
1,258

863
0
863

162,9832,000
50
165,033
165,427

1,323,286
1,996
50
1,325,333
1,326,591

1,160,303(3)01,160,300
1,161,164

Notes : 1. Market value is calculated mainly based on the closing price of the Tokyo Stock Exchange.
2. Book value of the securities which were excluded from disclosure above is as follows:
Millions of yen(Current)
Bonds used in repurchase agreements
3,993
Commercial paper used in repurchase agreements
3,993
Discount bank debenture
3,491
Foreign unlisted bonds
809
Money management funds
632(Non-current)
Domestic unlisted stocks excluding over-the-counter stocks
22,856
Foreign unlisted bonds
3,310

10. DERIVATIVES
Not applicable.

- 12 -

Nov/ 9/2000

TOYODA AUTOMATIC LOOM WORKS, LTD.
Non-consolidated Semiannual Financial Results for FY2001("Kobetsu Chuukan Zaimushohyou no Gaiyou")
1. FINANCIAL SUMMARY (Apr/1/1999 - Mar/31/2000)
Millions of yen
FY2001 (1half) FY2000 (1half)

FY2000

Variance(4/00 - 9/00)(4/99 - 9/99)

Net Sales

280,420

235,497

44,923

521,502

Operating Income

17,269

8,820

8,449

22,508

Ordinary Income

18,681

11,665

7,016

26,120

Income before Income Taxes

13,584

11,665

1,919

26,120Net Income

9,267

7,935

1,332

17,170Total Assets

1,643,765

607,367

1,036,398

628,886

882,404

310,431571,973

317,399

32.71

28.01

4.70

60.61

3,114.78

1,095.78

2,019.00

1,120.38

8.00

8.00

-

16.00

283,296,225

283,296,225-

283,296,225

Shareholders' Equity(4/99 - 3/00)

Per common share (in yen)
Net Income
Shareholders' Equity
Cash Dividends
Number of Shares Outstanding at End of Period

Notes: 1. Disclosure item and account classification are based on the disclosure rule in Japan.
2. From the six months ended September 30, 2000, we have adopted "mark-to-market accounting" due to the applicationof the new accounting standards for financial instruments. We also have applied the new accounting standards for
retirement benefits and the amended accounting standards for foreign currency transaction.

2. FORECASTS FOR FY2001 (Apr/1/2000 - Mar/31/2001)
Millions of yen
FY2001

FY2000(4/00 - 3/01)(4/99 - 3/00)

Net Sales

560,000

521,50238,498Operating Income

33,50022,508

10,992

Ordinary Income

36,00026,1209,880

Net Income

21,50017,1704,330

Net Income per Share (in yen)

68.63

60.61

8.02

Cash Dividends per Share (in yen)

16.00

16.00

-

Variance

Note: Because we newly issued 30 million shares on October 11, 2000, net income per share for FY2001 was computed
based on the number of shares including the new shares.

- 13 -

3. NON-CONSOLIDATED BALANCE SHEETSMillions of yen
FY2001 (1half)

FY2000(as of 9/30/00)(as of 3/31/00)

148,453

Cash and deposits

Variance

FY2000 (1half)

165,558(17,105)

138,815

43,386

58,645(15,259)

36,400Receivables―notes

3,355

2,418

937

3,239

Receivables―accounts

48,03456,140(8,106)51,990Marketable securities

15,57912,434

3,145

11,604

Finished goods

1,419

1,338

81

1,308

Raw materials

172

176

(4)

110

Work in process

12,76011,968792

14,653

Supplies

2,287

2,273

14

2,290

Prepaid expenses

119

121

(2)

287

Deferred tax assets

5,838

4,735

1,103

3,229

Other receivables

9,283

10,009

(726)

8,054

Other current assets

6,529

5,713

816

5,932

Less―allowance for doubtful receivables

(314)

(417)

103

(285)

(as of 9/30/99)

ASSETS
Current Assets

1,495,312

463,327

1,031,985

468,552

206,261

202,5813,680

213,978

Buildings

58,68260,007(1,325)62,376Structures

5,976

6,053

(77)

6,139

Machinery and equipment

93,20593,059146

97,513

859

916

(57)

722

Tools, furniture and fixture

9,471

9,887

(416)

12,757Land

28,30328,129174

28,020Construction in progress

9,761

4,529

5,232

6,448

1,285

1,365

(80)

1,353

1,285

1,365

(80)

1,353

1,287,764

259,3811,028,383

253,220

Investments in securities

1,147,922

197,839

950,083

191,644

Investments in subsidiaries

124,874

34,211

90,66335,531Long-term loans

8,048

16,063(8,015)

16,140Long-term prepaid expenses

1,182

1,297

(115)

1,258

-

4,335

(4,335)

3,981

5,759

5,693

66

4,723

(23)

(58)

35

(59)

Fixed Assets
Property, Plant and Equipment

Vehicles and delivery equipment

Intangible Assets
SoftwareInvestments and Other Assets

Deferred tax assets
Other investments and other assets
Less―allowance for doubtful investments

Total Assets

1,643,765- 14 -

628,886

1,014,879

607,367

Millions of yen
FY2001 (1half)

FY2000(as of 9/30/00)(as of 3/31/00)

Current Liabilities

142,755

Payables―notes

Variance

FY2000 (1half)

118,907

23,848103,718

5,268

3,455

1,813

3,698

Payables―accounts

59,06964,393(5,324)

51,849Commercial paper

20,000-20,000-

Other payables

14,925

9,492

5,433

9,832

Accrued expenses

17,942

16,2501,692

15,428

Accrued income taxes

7,186

7,478

(292)

4,709

Advanced received

205

-

205

197

Deposits received

584

460

124

746

17,573

17,376

197

17,257Long-term Liabilities

618,604

192,579

426,025

193,218

Straight bonds

140,000

100,000

40,000100,000

Convertible bonds

75,74875,748-75,748Deferred tax liabilities

384,414-384,414-

Provision for retirement and severance benefits

18,425

16,815

1,610

17,470

16

16

-

-

761,360

311,487

Common Stock40,17840,178-40,178

Statutory Reserves

70,71770,717-70,717

Capital surplus

60,67260,672-60,672

Legal reserve

10,044

10,044-

10,044

213,321

206,503

6,818

199,535

Reserve for special depreciation

63

20

43

20

Reserve for reduction of acquisition costof fixed assets

166

177

(11)

177

General reserves

170,000

170,000-

170,000

Unappropriated retained earnings
at end of period

43,09136,305

6,786

29,337< 9,267 >< 17,170 >< (7,903) >< 7,935 >(as of 9/30/99)

LIABILITIESEmployees' savings deposits

Other long-term liabilities

Total Liabilities

449,873

296,936SHAREHOLDERS' EQUITY

Retained Earnings<Including net income for period>

Unrealized Gains on Securities

558,187-

558,187-

Total Shareholders' Equity

882,404

317,399

565,005

310,431

Total Liabilities and Shareholders' Equity

1,643,765

628,886

1,014,879

607,367- 15 -

(NOTES TO NON-CONSOLIDATED BALANCE SHEETS)

FY2001 (1half)

Millions of yen
FY2000
Variance

FY2000 (1half)(as of 9/30/00)(as of 3/31/00)

313,139

303,985

9,154

297,315(1) Acquisition cost

4,385

4,638

(253)

4,900

(2) Accumulated depreciation

2,505

2,552

(47)

2,744

(3) Obligations under finance leases

1,880

2,086

(206)

2,155

< 877 >

< 1,010 >< (133) >< 1,058 >

554

1,256

-

611

279

347

(68)

247

< 156 >

< 193 >< (37) >< 145 >

3,180

3,305

(125)

2,928

549 shares

436 shares

113 shares

793 shares

1

0

1

1

(as of 9/30/99)

1. Accumulated depreciation ofproperty, plant and equipment
2. Finance lease which do not transfer
ownership of leased assets to lessees<due within one year>(4) Lease payments for period
3. Operating lease
Obligations under operating leases<due within one year>

4. Contingent liabilities
5. Treasury stock at cost
Number of shares
Amount6. Number of shares outstandingat end of period

sharesshares283,296,225 283,296,225

sharesshares- 283,296,225

7. Provision for retirement and severance benefits for directors and corporate auditors of¥ 2,407 million is contained in provision for retirement and severance benefits.

- 16 -

4. NON-CONSOLIDATED STATEMENTS OF INCOME
Millions of yen
FY2001 (1half) FY2000 (1half)
Variance

FY2000(4/00 - 9/00)(4/99 - 9/99)

280,420

235,497

44,923

521,502

280,420

235,497

44,923

521,502

263,150

226,677

36,473498,994

Cost of sales

247,715

211,894

35,821

469,272

Selling, general and administrative expenses

15,435

14,783652

29,721

17,269
6,275

8,820
8,712

8,449
(2,437)22,508Interest income

267

243

24

531

Dividend income

4,483

4,122

361

7,716

Other

1,524

4,346

(2,822)

9,046

Other Expenses

4,863

5,867

(1,004)

13,682

Interest expenses

1,344

1,049

295

2,264

Other

3,518

4,817

(1,299)11,417

18,681
15,08011,665-

Operating Revenue
Net sales

Operating Expenses

Operating Income
Other Income

Ordinary Income
Special Gains(4/99 - 3/00)

7,016
15,08017,294

26,120-Gain on securities contribution toemployee retirement benefit trust

Special Losses

15,08020,177-15,08020,177---

Cumulative effect of change inaccounting standards for retirement benefits

17,848-

17,848

-

2,329

-

2,329

-

Income before Income Taxes
Income taxes
Deferred tax benefit
Net Income

13,584
7,780(3,463)
9,267

11,6655,560(1,830)
7,935

1,919
2,220
(1,633)
1,332

26,120

Unappropriated retained earnings
brought forward
Prior years' deferred tax adjustments

33,823-

15,881
5,380

17,942(5,380)15,881

Reversal of reserve for special depreciation
due to an adoption of tax effect accounting

-

14

(14)

14

124
-

(124)
-

124
2,266

29,337

13,75436,305

Prior years' addition to provision for retirement andseverance benefits for directors and auditors

Reversal of reserve for reduction of acquisition cost of fixed assets
due to an adoption of tax effect accounting
Interim cash dividend
Unappropriated Retained Earnings
at End of Period

43,091- 17 -

12,640(3,690)17,1705,380

5. SECURITIES
Subsidiaries' and affiliates' stock which have fair value is as follows:
Millions of yen
FY2001 (1half)(as of 9/30/00)

Book value
554

Subsidiaries' stock- 18 -

Market value

Valuation profit

1,753

1,198