Consolidated Financial Statements for the Fiscal Year Ended March 31, 2001
May 25, 2001
These financial statements have been prepared for reference only in accordance with accounting principles andpractices generally accepted in Japan.
Mitsubishi Gas Chemical Co., Inc.
Stock exchange listings:
Head office location: Tokyo
Code number:Contact: Jin Hata
Board of Directors meeting:General Manager
Public & Investor Relations Division: (03) 3283-5041

Tokyo, Osaka, Nagoya
4182
May 25, 2001

1. Results for Fiscal 2000 (April 1, 2000-March 31, 2001)(1) Consolidated Sales and Income

Fiscal 2000
Fiscal 1999

Net sales
PLOOLRQ 

Year-on-yearchange (%)

323,075
289,531+ 11.6+ 1.1

Net income
PLOOLRQ 

Year-on-yearchange (%)

Note: All amounts are rounded down to the nearest million yen.
Operating
Year-on-year
Ordinary
Year-on-year
incomechange (%)
incomechange (%)
PLOOLRQ PLOOLRQ 
12,178+ 130.1
13,633+ 85.9
5,293
-30.6
7,332
- 29.8
Earnings
SHUVKDUH  

Earnings
per share
GLOXWHG   
15.02
8.39

Return on
equity (%)

Ordinary
income/total
assets (%)
2.8
1.5

Ordinary
income/net
sales (%)
4.2
2.5

Fiscal 2000
7,285
+ 74.6
15.07
4.2
Fiscal 1999
4,172
-38.2
8.40
2.4
Notes:
(TXLW\LQHDUQLQJVRIDIILOLDWHVPLOOLRQ )LVFDOPLOOLRQ 
2. Average number of shares outstanding (consolidated): 483,559,615 shares (Fiscal 1999: 496,952,238 shares)
3. Changes in accounting methods: Yes
4. Year-on-year change for net sales, operating income, ordinary income and net income is based on the previous fiscal year.

(2) Financial Position
Total assets
6WRFNKROGHUV¶HTXLW\6WRFNKROGHUV¶HTXLW\WRWDO
6WRFNKROGHUV¶HTXLW\PLOOLRQ PLOOLRQ 
assets (%)
SHUVKDUH  
Fiscal 2000
486,970
175,28036.0
362.54
Fiscal 1999
481,030
172,71835.9
355.77
Note: Number of shares outstanding at end of period (consolidated): 483,476,052 shares (Fiscal 1999: 485,476,512 shares)(3) Cash Flows

Fiscal 2000
Fiscal 1999

Net cash provided byoperating activities
PLOOLRQ 
15,562
16,697

Net cash used in investing
activities
PLOOLRQ (12,398)(17,824)

Net cash used infinancing activities
PLOOLRQ (12,622)(7,467)

Cash and cash equivalents
at end of period
PLOOLRQ 
31,64442,007(4) Scope of consolidation and application of the equity method
Consolidated subsidiaries:
27 companies
Unconsolidated subsidiaries accounted for by the equity method: None
Affiliated companies accounted for by the equity method: 11 companies(5) Changes in scope of consolidation and application of the equity method:
Consolidation: (New) 3 companies (Eliminated) 1 company
Equity method: (New) None
(Eliminated) 1 company

2. Projected Results for Fiscal 2001 (April 1, 2001-March 31, 2002)


1HWVDOHV PLOOLRQ 

Interim period
165,000
Fiscal 2001
340,000
Reference: Estimated net incoPHSHUVKDUH ILVFDO -1-

2UGLQDU\LQFRPH PLOOLRQ 

1HWLQFRPH PLOOLRQ 

6,800
17,8005,400
12,4001. Corporate Group
The MGC Group consists of Mitsubishi Gas Chemical Co., Inc., 63 subsidiaries and 45 affiliates. The main
business areas of the Group, and the position of MGC and its principal subsidiaries and affiliates within theirrespective areas of business, are as follows.
Chemical
Products:

Manufacture and sale of methanol, ammonia, urea, xylene and xylene derivatives,hydrogen peroxide, polyhydric alcohol, hydrazine hydrate, and other industrial chemicals
Principal subsidiaries and affiliates:
Japan Hydrazine Co., Inc., Eiwa Chemical Industrial Co., Inc., A&C Co., Ltd., Ryoko
Chemical Co., Ltd., Ryoyo Shoji Co., Ltd., MITSUBISHI GAS CHEMICAL (Singapore)
Pte. Ltd., MITSUBISHI GAS CHEMICAL AMERICA, Inc., P.T. Peroksida Indonesia
Pratama, Kyodo Kasankasuiso Corporation, Mizushima Aroma Co., Ltd., Japan Saudi
Arabia Methanol Co., Inc., AG International Chemical Co., Ltd., Metanol de Oriente,
Metor, S.A., MRM Toluic Co., Inc., and 22 other companies, including 9 consolidated
subsidiaries and 5 affiliates accounted for by the equity method.

Advanced
Materials:

Manufacture and sale of engineering plastics, printed circuit board materials, printed
circuit boards, electronic materials, and oxygen absorbing agent AGELESS
Principal subsidiaries and affiliates:
Japan Circuit Industrial Co., Ltd., Electrotechno Co., Ltd., DIA Electronics Co., Inc.,
Diatec Co., Ltd., Samyoung Pure Chemicals Co., Ltd., MGC Pure Chemicals America,
Inc., Thai Polyacetal Co., Ltd., Toyo Kagaku Co., Ltd., Fuji Kasei Co., Ltd., Tokyo ShokaiCo., Ltd., Photocrystal Inc., JSP Co., Ltd., Japan Upica Co., Ltd., Mitsubishi EngineeringPlastics Corp., Korea Engineering Plastics Co., Ltd., and 24 other companies, including 11
consolidated subsidiaries and 4 affiliates accounted for by the equity method.

Others:Manufacture and sale of gasification equipment for high-purity gases and disposable
heating pads
Principal subsidiaries and affiliates:
Japan Pionics Co., Ltd., Kinoe Terminal Company, Inc., Marine Transport and Terminal
Co., Ltd., Japan Chemical Transport Co., Ltd., Japan Chemical Transport Panama Inc.,
Ryowa Enterprise Co., Inc., Ryowakosan Company, Inc., Toyo Earthtech Co., Ltd., Kokka
Sangyo Co., Ltd., and 24 other companies, including 7 consolidated subsidiaries and 2
affiliates accounted for by the equity method.

The corporate group above includes consolidated subsidiaries that are listed on stock exchanges in Japan.
The chart that follows on the next page shows the business relationships between the parent company and its
principal consolidated subsidiaries and affiliates.

-2-

(Chemical Products)
Supply of raw materials

Japan Hydrazine Co., Inc.
Supply of raw materials

Eiwa Chemical Industrial Co., Inc.
Supply of raw materials

A&C Co., Ltd.

Purchase of products
Sale of products

Ryoko Chemical Co., Ltd.

MGC
Purchase of raw materials

Sale of products

Purchase of products

Sale of products

Ryoyo Shoji Co., Ltd.
MITSUBISHI GAS CHEMICAL SINGAPORE Pte. Ltd.

Sale of products(Chemical Products)

MITSUBISHI GAS CHEMICAL AMERICA, Inc.
Supply of production
technology

P.T. Peroksida Indonesia Pratama
Supply of production
technology

Kyodo Kasankasuiso Corporation(Advanced Materials)
Supply of raw materials

Japan Circuit Industrial Co., Ltd.
Purchase of productsElectrotechno Co., Ltd.

(Advanced Materials)
Purchase of products

Supply of raw materials

DIA Electronics Co., Inc.
Supply of raw materials

Diatec Co., Ltd.
Supply of production
technology

Samyoung Pure Chemicals Co., Ltd.

(Others)
Supply of production
technology

MGC Pure Chemicals America, Inc.
Purchase of products

Supply of production
technology

Thai Polyacetal Co., Ltd.
Supply of raw materials

Toyo Kagaku Co., Ltd.
Supply of raw materials

Fuji Kasei Co., Ltd.
Sale of productsTokyo Shokai Co., Ltd.
Purchase of products

Supply of production
technology

Photocrystal Inc.

(Others)

Japan Pionics Co., Ltd.
Kinoe Terminal Co., Inc.
Storage, warehousing and transport of raw materials and products

Marine Transport and Terminal Co., Ltd.
Transport of products

Japan Chemical Transport Co., Ltd.
Transfer ofshipping fees

Japan Chemical Transport Panama, Inc.
Management of welfare facilities

Ryowa Enterprise Co., Inc.
Real estate management

Ryowa Kosan Co., Ltd.

2. Management Policy(1) Basic Management Policies and Company Issues
In line with its corporate philosophy of contributing to the development and harmony of society
through creation of broad value based on chemicals, MGC aims to be a chemical company
distinguished by excellence. By constantly striving to create new values required by the times andraising the satisfaction and trust of stakeholders, including customers, shareholders and local
communities, the MGC Group will work to maximize its corporate value.
,QRUGHUWRFODULI\WKH&RPSDQ\¶VEXVLQHVVGLUHFWLRQDQGJXLGHOLQHVIRUGHYHORSPHQWLQWKHstcentury, MGC formulated a new medium-term management plan, MGC SHINKA 21, and began
implementing it in fiscal 2000. Over the period of the plan, MGC will position itself to make major
new strides by following three basic policies:
1) Selection and concentration of business and management resources
2) Construction of a sound financial structure through improved asset efficiency
3) Construction and effective implementation of a new management system.
In the first year of MGC SHINKA 21, MGC reduced interest-bearing debt to a level close to that
RXWOLQHGLQWKHSODQDQGH[FHHGHGWKHSODQ¶VWDUJHWVLQUHGXFLQJIL[HGFRVWV)XUWKHUPRUHWKH
Company strengthened its competitiveness by expanding business in its areas of core competence,and by aggressively promoting strategic alliances and cooperative arrangements with othercompanies.
MGC is still in the process of establishing a stable earnings base, and will continue its efforts in thisarea. The Company is also strengthening and expanding its competitive advantage through a policyof selection and concentration and must further bolster corporate value by reorganizing and scaling
down unprofitable businesses.
0*&LQWURGXFHGDQHZPDQDJHPHQWV\VWHPWKH³LQWHUQDOFRPSDQ\´V\VWHPLQ-XO\WR
establish autonomous, self-reliant operations. The new system supports the flexible, efficientdevelopment of businesses by shifting decision-making authority for investment to internal
companies, which then manage capital investment based on the cash flows at each company. In
addition, return on assets (ROA) was introduced as an indicator for evaluating the companies toachieve greater asset efficiency.
Going forward, MGC plans to deepen this self-reliant, autonomous management system and ensure
the effective implementation of the fundamental policies and objectives outlined in MGC SHINKA
%\GRLQJVRWKH&RPSDQ\H[SHFWVWRDFKLHYHLWVDLPRIEHLQJD³FKHPLFDOFRPSDQ\GLVWLQJXLVKHGE\H[FHOOHQFH´DVZHOODVPD[LPL]HLWVFRUSRUDWHYDOXH
(2) Environmental and Safety Measures
MGC actively promotes responsible care activities in its daily business operations based on its
fundamental environment and safety policy. To ensure that MGC operates in harmony with theglobal environment, the Company conducts organizational activities aimed at specific objectives
that apply across the entire company, starting with corporate management that deploys resources tocreate new economic value.
A soil contamination problem has materialized on land that the Company owned temporarily in Ota
Ward, Tokyo. MGC is cooperating with the Tokyo government in investigating the cause of the
problem and working toward a solution.

-4-

(3) Basic Policy for Profit Distribution,QGLVWULEXWLQJSURILWV0*&¶VSROLF\LVWRVHWWKHOHYHORIGLYLGHQGVWRVKDUHKROGHUVDQGUHWDLQHG
earnings by taking into account a wide range of factors, including performance trends, themanagement environment and future business development.
5HWDLQHGHDUQLQJVDUHXVHGWRUHLQIRUFHDQGH[SDQGWKH&RPSDQ\¶VPDQDJHPHQWEDVHLQZD\VVXFKas bolstering core businesses, developing new products and new technologies, and strengthening the&RPSDQ\¶VILQDQFLDOVWUXFWXUH
3. Business Results(1) Summary of Fiscal 2000
During fiscal 2000, the year ended March 31, 2001, despite efforts toward a self-sustaining
recovery in the industrial sector, the Japanese economy remained stagnant due to continued flat
growth in consumer spending.
In the chemical industry, demand for IT-related products was strong in the first half of the period.
However, the challenging business environment continued because of factors such as a rise in crude
oil prices.
$JDLQVWWKLVEDFNJURXQG0*&LQWURGXFHGDQ³LQWHUQDOFRPSDQ\´V\VWHPDVDVWHSWRZDUGVPHHWLQJthe objectives in its medium term management plan, MGC SHINKA 21. MGC has been striving toenhance profitability and establish autonomous operations that are self-reliant in relation to
HDUQLQJVDQGLQYHVWPHQW$VDUHVXOWFRQVROLGDWHGQHWVDOHVLQFUHDVHGPLOOLRQRYHUWKH
SUHYLRXV\HDUWRPLOOLRQ2UGLQDU\LQFRPHLQFUHDVHGPLOOLRQWRPLOOLRQDQGQHWLQFRPHLQFUHDVHGPLOOLRQWRPLOOLRQ
2QDQRQFRQVROLGDWHGEDVLVQHWVDOHVLQFUHDVHGPLOOLRQ\HDURQ\HDUWRPLOOLRQRUGLQDU\LQFRPHLQFUHDVHGPLOOLRQWRPLOOLRQDQGQHWLQFRPHGHFUHDVHGPLOOLRQ
WRPLOOLRQ
7KH&RPSDQ\SODQVWRSD\D\HDUHQGFDVKGLYLGHQGRISHUVKDUH&RPELQHGZLWKWKHLQWHULPGLYLGHQGRISHUVKDUHWKLVZLOOEULQJWRWDOGLYLGHQGVIRUWKH\HDUWRSHUVKDUH
MGC booked a one-time charge in fiscal 2000 to cover a shortfall in the reserve for retirement
benefits, which occurred as a result of the introduction of present-value accounting standards, bymeans such as establishing a securities trust.
Continuing its stock repurchase program, MGC acquired 2,000,000 shares of its common stock at a
WRWDOFRVWRIDQGFRPSOHWHGSURFHGXUHVWRFDQFHOWKHVDPHQXPEHURIFRPPRQ
shares.
(2) Cash Flows
1HWFDVKSURYLGHGE\RSHUDWLQJDFWLYLWLHVLQILVFDOZDVPLOOLRQ1HWFDVKXVHGLQLQYHVWLQJDFWLYLWLHVWRWDOHGPLOOLRQSULPDULO\IRULQYHVWPHQWLQSODQWDQGHTXLSPHQW1HW
FDVKXVHGLQILQDQFLQJDFWLYLWLHVZDVPLOOLRQSDUWO\GXHWRDUHGXFWLRQLQLQWHUHVWEHDULQJ
debt and the abolition of the company savings system. As a result, cash and cash equivalents as of
0DUFKWRWDOHGPLOOLRQGRZQPLOOLRQIURPWKHSUHYLRXVILVFDO\HDUHQG

-5-

(3) Results by Business Segment[Chemical Products]
In the area of methanol and ammonia-based products, the international market for methanol
improved and sales of formalin and amine derivatives increased. However, sales of ammonia based
products were flat. Both net sales and sales volume of methyl methacrylate and ester-based
products increased. Despite increased competition from imports, sales of polyols (polyalcohols)
increased slightly.
In the area of xylene products, sales of metaxylene derivative products such as metaxylene diamineand metaxylene nylon (MX nylon) increased. Sales of paraxylene and purified terephthalic acid, aderivative of paraxylene, rose due to increases in both sales volume and price. The phthalic acidbased plasticizers business was transferred to a joint venture with Chisso Corporation, and wasrecorded as a decline in sales by MGC. However, sales of phthalic anhydride, the raw material toproduce these plasticizers, increased.
In the area of industrial chemicals, sales volume of hydrogen peroxide increased reflecting demandfor chlorine in the pulp and paper industry. However, net sales of hydrogen peroxide declined
slightly due to a drop in prices. The sales volume of sodium hydrosulfite and the price of persulfatesdeclined, resulting in a decline in net sales for both these chemicals. In addition, due to lackluster
demand, sales of hydrazine hydrate declined.
$VDUHVXOWQHWVDOHVRIWKH&KHPLFDO3URGXFWV*URXSWRWDOHGPLOOLRQDQGRSHUDWLQJORVVZDVPLOOLRQ
[Advanced Materials]
Sales of engineering plastics expanded, supported by increases in both sales volume and prices,reflecting steady growth in demand in Japan and overseas, particularly in Asia. Although signs of adownturn in IT-related demand appeared in the latter half of the period, both sales volume and net
sales of printed circuit board materials increased. Sales were stable for the oxygen absorber
AGELESS, which is used to preserve the freshness of packaged food. The price for chemicals usedby the electronics industry dropped, and although sales volume increased, net sales remained near
the same level as the previous year. Both sales volume and net sales of lens monomer decreasedslightly. Sales of info-advanced materials increased, reflecting continued strong worldwide demandfor optical communications-related products and favorable growth for magnetic garnet crystals.
$VDUHVXOWQHWVDOHVRIWKH$GYDQFHG0DWHULDOV*URXSDPRXQWHGWRPLOOLRQDQG
RSHUDWLQJLQFRPHWRWDOHGPLOOLRQ
[Other Products]
Despite sales of technologies such as gas production methods employing methanol, overall sales oftechnology declined from the previous fiscal year. However, sales of equipment for refinery andexhaust gas treatment fared well. Sales in the geothermal steam business remained stable.
$VDUHVXOWWRWDOVDOHVRIWKH2WKHU3URGXFWV*URXSZHUHPLOOLRQDQGRSHUDWLQJLQFRPHZDVPLOOLRQ
(4) Outlook for the Current Fiscal YearThe downturn in the U.S. economy is slowing the pace of recovery in Asian economies, while in
the Japanese economy, capital investment is showing signs of weakening. Due to factors such asthese, the economic environment is expected to remain challenging. In the chemical industry,difficult conditions are also forecast to continue amid intensifying global competition, exacerbatedby concerns about trends in IT demand and raw material prices.
-6-

Taking into account these conditions, MGC will implement various measures to ensure the&RPSDQ\¶VVXUYLYDO,QOLQHZLWKWKHPHGLXPWHUPPDQDJHPHQWSODQ0*&6+,1.$WKH0*&
Group will continue working to strengthen group management based on the new management
system, as well as secure a stable earnings base.
3URMHFWHGFRQVROLGDWHGUHVXOWVIRUWKH\HDUHQGLQJ0DUFKDUHQHWVDOHVRIELOOLRQRUGLQDU\LQFRPHRIELOOLRQDQGQHWLQFRPHRIELOOLRQ
2QDQRQFRQVROLGDWHGEDVLVSURMHFWHGUHVXOWVDUHQHWVDOHVRIELOOLRQRUGLQDU\LQFRPHRIELOOLRQDQGQHWLQFRPHRIELOOLRQ)RUILVFDO0*&SODQVWRSD\DQLQWHULPGLYLGHQG
RISHUVKDUHDQGD\HDUHQGGLYLGHQGRISHUVKDUHIRUDWRWDORISHUVKDUH

-7-

4. Consolidated Financial Statements
Consolidated Balance Sheets
As ofMarch 31,
2001

As of
March 31,
2000

Increase(decrease)

ASSETS
Current assets
Cash and deposits
Notes and accounts
receivable
Marketable securities
Inventories
Deferred income
taxes
Other current assets
Allowance for
doubtful receivables

241,972
27,060(33,467)
108

114,816
4,996
52,87892,45262,15846,93322,363(57,161)
5,945

2,501
6,742

1,330
12,807

1,171(6,065)

(599)

(770)

170

Fixed assets
278,465
Tangible fixed assets
173,031
Buildings andstructures
51,131
Machinery,equipment andvehicles
79,538Land
23,507
Construction inprogress
12,862
Other
5,990
Intangible fixed assets:
1,886
Software1,028
Consolidation
adjustments
278
Other
579

233,021
171,134

45,443
1,897

48,8052,326

76,42523,183

3,113
324

17,107
5,612
1,766
1,084

(4,244)
378
119
(56)

16
665

262
(86)

Foreign Currency
Translation
Adjustments

As ofMarch 31,
2000

Increase(decrease)

Current liabilities
191,013
Trade notes andaccounts payable
71,007
Short-termborrowings
76,293
Bonds redeemablewithin one year
11,428
Accrued expenses
10,815
Accrued bonuses
4,200
Accrued income taxes
4,317
Deferred tax
liabilities
97
Other current
liabilities
12,853

181,508

9,505

59,07911,927

92,902(16,609)

9,630
4,230
900

11,428
1,185
(29)
3,417

-

97

14,764(1,911)Long-term liabilities 113,409
Bonds
40,969Long-term
borrowings
59,930Reserves
Reserve forretirement benefits
Reserve forretirement andseverance benefits
10,076
Reserve forGLUHFWRUV¶
retirement
bonuses
1,029
Other
55
Deferred tax
liabilities
533
Other long-term
liabilities
816
Total liabilities
304,423

120,072
51,397(6,662)(10,428)

51,108

8,821

16,577(16,577)-

10,076

44

1,029
11

-

533

944
301,580

(128)
2,842

7,265

6,730

535

41,97041,970035,5182,842
99,604
179,91735,51895,230172,719

0
2,824
4,374
7,198

(4,636)(0)(0)(4,636)(0)

175,280

172,718

2,561

Total Liabilities and 486,970
6WRFNKROGHUV¶(TXLW\481,030

5,939

LIABILITIES
208,505
27,169Investments andOther Assets
Investments insecurities
Long-term loans
Deferred income
taxes
Other
Allowance for
doubtful receivables

103,546

60,12043,426

91,0452,517

50,6352,276

40,410
241

2,561
8,296

76
7,562

2,484
734

(874)

(430)

(444)

-

6,036

(6,036)

Minority Interests
672&.+2/'(56¶EQUITY
Common stock
Additional paid-in
capital
Revaluation gain (loss)
Retained earnings

Foreign currencytranslation
adjustments
Treasury stock
7RWDOVWRFNKROGHUV¶equityTotal Assets(Millions of yen)
As ofMarch 31,
2001

486,970481,030

5,939

-8-

Consolidated Statements of Income and Retained Earnings

Net salesYear ended
March 31, 2001
323,075

Operating expenses
Cost of sales
Selling, general and administrative expenses
Operating income
Non-operating income:Interest and dividend income
Gain on sale of securities
Equity in earnings of affiliates
Other non-operating income
Non-operating expenses:
Interest expense
Other non-operating expenses
Ordinary income
Extraordinary gains
Gain on establishment of retirement benefit trust
Gain on sale of investment securities
Reversal of provision for doubtful receivables
Gain on sale of fixed assets
Extraordinary loss
Amortization of transition obligation resulting fromaccounting change for retirement and severance
benefits
Loss on restructuring affiliates
3URYLVLRQIRUGLUHFWRUV¶UHWLUHPHQWERQXVHVLoss on disposal of fixed assets
Amortization of exploration cost
Devaluation of other investments
Devaluation of investment securities
Income before income taxes and minority interests
Corporate, inhabitants and enterprise taxes
Adjustments to corporate taxes, etc.
Minority interests
Net income
Consolidated retained earnings at beginning of year
Accumulated tax effect
Increase in retained earnings
Increase due to subsidiaries newly consolidated
Increase due to revaluation of fixed assets ofoverseas subsidiaries, etc.
Decrease in retained earnings
Cash dividends paid
'LUHFWRUV¶ERQXVHVRetirement of treasury stock
Decrease due to change in consolidated subsidiaries
and affiliates accounted for by the equity method
Net income
Consolidated retained earnings at end of year

-9-

Year ended
March 31, 2000
289,531(Millions of yen)
Increase(decrease)33,543

310,896
267,879
43,017
12,178284,238
241,184
43,054
5,293

26,65826,695
(36)
6,885

8,957
1,225
4,628
3,102
7,503
3,754
3,748
13,633
11,034
9,394
1,543
53
43
15,412

10,208
1,503
4,888
1,322
2,495
8,169
4,055
4,113
7,332
1,592

(1,251)(277)(4,888)
3,306
607
(666)
(300)
(365)
6,300
11,034
9,394
1,543
53
43
13,82011,557
909
649
628
625
581
459
9,255
4,973
(3,076)73
7,285
95,23095,230

356
776
459
5,740
2,012
(696)
251
4,172
94,569986
95,555

11,557
909
649
272
(150)
581
0
3,515
2,961
(2,380)
(178)
3,112
660
(986)
(325)

-

879

(879)

5
5

879

5
(874)

1,938
14
539

2,493
87
2,736

(554)
(72)
(2,196)

422
2,916
7,285
99,604

60
5,377
4,172
95,230362(2,460)
3,112
4,374

Consolidated Statements of Cash Flows(Millions of yen)

I. Cash Flows from Operating Activities
Income before income taxes
Depreciation and amortization
Equity in earnings of affiliates(Increase) decrease in reserve for retirement benefits
Interest and dividend income
Interest expenses
Gain on sale of securities
Loss on valuation of securities
Loss on restructuring affiliates(Increase) decrease in trade notes and accounts receivable
Increase in inventories
Increase in trade notes and accounts payable
Gain on contribution of assets to pension trust
Amortization of transition obligation resulting fromaccounting change for retirement and severance benefits
Bonuses to directors and corporate auditors
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by operating activities
II. Cash Flows from Investing Activities
Payment for purchase of short-term investments
Proceeds from sale of short-term investments
Capital expenditures
Proceeds from sale of property, plant and equipment
Purchase of investments in securities
Proceeds from sale of investment securities
Acquisition of stock of subsidiaries involving change inscope of consolidation
Sale of stock of subsidiaries involving change in scope of
consolidation
Increase (decrease) in loans
Other, net
Net cash used in investing activities
III. Cash Flows from Financing Activities
Increase in short-term debt
Proceeds from long-term debt
Repayment of long-term debt
Proceeds from issuance of bonds
Payment due to abolishment of company deposit system
Purchase of common stock for retirement
Dividends paid to stockholders
Dividends paid to minority stockholders of subsidiaries
Other, net
Net cash used in financing activities
IV. Effect of exchange rate changes on cash and cash
equivalents
V. Net decrease in cash and cash equivalents
VI. Cash and cash equivalents at beginning of year
VII. Increase in cash and cash equivalents due to theaddition of consolidated subsidiaries, net
VIII. Decrease in cash and cash equivalents due to the
exclusion of consolidated subsidiaries, net
IX. Cash and cash equivalents at end of year

- 10 -

Year ended
March 31, 2001

Year ended
March 31, 2000

Increase(decrease)

9,255
20,092(4,628)(234)(1,225)
3,754(1,543)459
909(23,635)(5,932)
11,333(9,394)

5,740
19,987(1,322)65(1,503)
4,055(4,888)878
1,406(3,506)
860
-

3,515
105
(3,306)
(299)
277
(300)
3,345
(418)
909
(25,041)(2,426)
10,473(9,394)

11,5571,029
8,018
19,816
1,224(3,831)(1,647)
15,562(1,715)20,056
1,589(4,139)(809)
16,697

11,557
1,029
9,734
(240)
(364)
308
(838)
(1,135)(39)
4,369(22,938)59(2,308)2,478(7,331)
8,621(24,325)
1,603(1,884)
5,106

7,292
(4,252)
1,387)(1,543)(424)(2,627)

(801)

-

(801)

572
6,834
(625)
(12,398)385(17,824)572
6,834(1,010)
5,426

1,307
21,324(29,831)1,000(3,915)(539)(1,938)(143)
114(12,622)110
16,690(18,879)(2,736)(2,493)(161)(7,467)

1,196
4,634
(10,952)
1,000(3,915)
2,196
554
17
114
(5,155)(806)(10,265)
42,00749(8,544)50,188(855)(1,721)(8,181)

252

663

(411)

(349)
31,644(300)
42,007(48)(10,362)

Preparation of the Consolidated Financial Statements
1. Scope of Consolidation
Among the 63 subsidiaries, the following 27 companies are consolidated subsidiaries:
Eiwa Chemical Industrial Co., Inc., A&C Co., Ltd., Electrotechno Co., Ltd., MGC Pure Chemicals America, Inc.,
Marine Transport and Terminal Co., Ltd., Kinoe Terminal Company, Inc., Samyoung Pure Chemicals Co., Ltd., DIA
Electronics Co., Inc., Diatec Co., Ltd., Tokyo Shokai Co., Ltd., Toyo Kagaku Co., Ltd., Japan Pionics Co., Ltd.,
Japan Circuit Industrial Co., Ltd., Japan Hydrazine Co., Inc., Fuji Kasei Co., Ltd., Ryoko Chemical Co., Ltd., Ryowa
Enterprise Co., Inc., MITSUBISHI GAS CHEMICAL (Singapore) Pte. Ltd., Japan Chemical Transport Co., Ltd.,
Japan Chemical Transport Panama Inc., Ryowakosan Company, Inc., Thai Polyacetal Co., Ltd., Ryoyo Shoji Co.,
Ltd., MITSUBISHI GAS CHEMICAL AMERICA, Inc., P.T. Peroksida Indonesia Pratama, Kyodo Kasankasuiso
Corporation, and Photocrystal Inc.

Kyodo Kasankasuiso Corporation and Photocrystal Inc. were newly established during the year ended March
31, 2001, but are included in the scope of consolidation because of their importance. P.T. PeroksidaIndonesia Pratama was accounted for by the equity method in the previous fiscal year, but is included in thescope of consolidation because it became a subsidiary GXHWRWKHSDUHQWFRPSDQ\¶VSXUFKDVHRIVKDUHVLWKDG
owned indirectly. However, the equity method is applied to the profit and loss of this subsidiary to reflect theperiod of substantial management control during the year ended March 31, 2001.
Kashima Polymer Co., Ltd. was excluded from the scope of consolidation because the parent company soldall of its equity in this company during the consolidated accounting period.
2. Application of the Equity Method
Among the 36 unconsolidated subsidiaries and 45 affiliated companies, the following 11 companies areaccounted for by the equity method:
Japan-Saudi Arabia Methanol Company, Mizushima Aroma Co., Ltd., AG International Chemical Co., Ltd., Japan
Upica Co., Ltd., Toyo Earthtech Co., Ltd., JSP Corporation, Metanol de Oriente, Metor, S.A., Mitsubishi
Engineering Plastics Corp., Korea Engineering Plastics Co., Ltd., Kokka Sangyo Co., Ltd., and MRM Toluic Co.,Inc.

In applying the equity method to JSP Corporation, profit and loss is calculated by including the equity in
HDUQLQJVRIWKDWFRPSDQ\¶VVXEVLGLDULHV-DSDQ=DQSDFN Co., Ltd., KP Co., Ltd., and JSP America Inc. In
applying the equity method to Metanol de Oriente, Metor, S.A., profit and loss is calculated by including the
HTXLW\LQHDUQLQJVRIWKDWFRPSDQ\¶VDIILOLDWH6DXGLMethanol Co., Inc. (incorporated in Saudi Arabia).
3. Items Related to Account Settlement Date of Consolidated Subsidiaries
The account settlement date of consolidated subsidiaries MITSUBISHI GAS CHEMICAL (Singapore) Pte.
Ltd., Samyoung Pure Chemicals Co., Ltd., MGC Pure Chemicals, Inc., Thai Polyacetal Co., Ltd., and P.T.
Peroksida Indonesia Pratama is December 31, 2000. The accounts of these subsidiaries as of December 31
are used in preparing the consolidated financial statements, and adjustments are made as necessary to
account for significant transactions occurring between January 1 and March 31, 2001.
4. Accounting Standards(1) Valuation of major assets
Securities
Held-to-maturity securities:
Valued at amortized cost
Stocks of subsidiaries and affiliates
Valued at cost using the moving-average method
Other securities
Valued at cost using the moving-average method
Derivatives
Fair value
Inventories
Valued principally at cost using the weighted average cost method.
Depreciation of tangible fixed assets
The parent company and 14 consolidated subsidiaries use the straight-line method, five consolidated
subsidiaries use the straight-line method and declining balance method, and eight companies
principally use the declining balance method.
Deferred tax assets
Charged to income in the full amount as incurred.
- 11 -

Allowance for doubtful receivables
An allowance for doubtful receivables is provided based on historical loss ratios for general credits
and in the estimated uncollectible amount, taking into consideration the possibility of collection, for
specific credits.
Reserve for bonuses:
The reserve for bonuses is provided according to the expected amount to be paid during the period.
Reserve for retirement and severance benefits:
The Company and five consolidated subsidiaries prRYLGHIRUHPSOR\HHV¶UHWLUHPHQWEHQHILWVLQWKH
amount of the projected benefit obligation at the end of the fiscal year, less the estimated amount ofpension plan assets.
A one-time charge was recorded in the year ended March 31, 2001 to account for the transition
obligation resulting from the accounting change for retirement and severance benefits.
Reserve for retirement benefits to directors
The parent company and five consolidated subsidiaries provide a reserve for retirement benefits todirectors in the amount to be paid in accordance with internal Company regulations.
(Changes in accounting methods)
Previously, retirement benefits to directors were expensed as incurred. Beginning in the fiscal year
ended March 31, 2001, a reserve is provided for such benefits in the amount to be paid at the end of
the period in accordance with the &RPSDQ\¶VLQWHUQDOUHJXODWLRQVThis change was made in view of the fact thatVHWWLQJDUHVHUYHIRUGLUHFWRUV¶UHWLUHPHQWEHQHILWVLV
becoming established as a standard accounting practice. The Company implemented the change infiscal 2000 along with the revision of internal regulaWLRQVFRQFHUQLQJGLUHFWRUV¶UHWLUHPHQWEHQHILWV
in order to further increase the rationality of profit and loss for each period and improve financial
VRXQGQHVVE\GLVWULEXWLQJWKHH[SHQVHRYHUWKHGLUHFWRUV¶WHUPVRIRIILFH
In accordance with this change, the amount ofPLOOLRQLQFXUUHGLQWKH\HDUHQGHG0DUFK
2001 was recorded in selling, general and administrative expenses. The equivalent amount for past
years was recorded as an extraoUGLQDU\ORVVRIPLOOLRQ$VDUHVXOWRSHUDWLQJLQFRPHDQG
RUGLQDU\LQFRPHHDFKGHFUHDVHGE\PLOOLRQDQGLQFRPHEHIRUHLQFRPHWD[HVGHFUHDVHGE\
million, compared with the respective amounts if the former method had been applied.
As the internal regulations were revised during the second half of the fiscal year, the former
method was used for the first half. If the method used after the change had been applied in the first
half, operating income and ordinary income wRXOGHDFKKDYHLQFUHDVHGE\PLOOLRQDQGLQFRPHEHIRUHLQFRPHWD[HVZRXOGKDYHLQFUHDVHGE\PLOOLRQ
Lease transactions
Finance lease transactions other than those for which ownership is deemed to be transferred to thelessee are accounted for as operating leases.
Consumption taxes
Consumption taxes are excluded from revenues and expenses.
5. Valuation of Assets and Liabilities of Consolidated Subsidiaries
Assets and liabilities of consolidated subsidiaries are valued using the full mark-to-market method.
6. Amortization of Consolidation Adjustment Account
The consolidation adjustment account is amortized on a straight-line basis over five years.
7. Appropriation of Profits
The Consolidated Statements of Retained Earnings are prepared on the basis of profit distributions decided
during the consolidated fiscal year.
8. Scope of Funds in the Consolidated Statements of Cash Flows
Cash and cash equivalents in the consolidated statements of cash flows comprise cash on hand, demand
deposits, and short-term investments that are readily convertible into cash, are exposed to insignificant riskof changes in value and are redeemable in three months or less.

- 12 -

Additional Information
1. Accounting for Retirement Benefits
Beginning in fiscal 2000, the Company is applying new accounting standards for retirement benefits. As aresult of this change, retirement benefit expenses for WKHILVFDO\HDULQFUHDVHGE\PLOOLRQDQGRUGLQDU\LQFRPHGHFUHDVHGE\PLOOLRQFRPSDUHGZLWKWKHrespective amounts if the previous method had been
applied.
7KHWUDQVLWLRQREOLJDWLRQRIPLOOLRQDULVLQJIURPWKLVFKDQJHDQGDJDLQRIPLOOLRQRQWKH
establishment of a retirement benefit trust were recorded in extraordinary gains and losses. As a result,
LQFRPHEHIRUHLQFRPHWD[HVGHFUHDVHGE\PLOOLRQ
The reserve for retirement allowances to employees isLQFOXGHGLQ³5HVHUYHIRUUHWLUHPHQWEHQHILWV´
2. Accounting for Financial Instruments
Beginning in fiscal 2000, the Company is applying new accounting standards for financial instruments,
which include a change in the method of valuation of marketable securities.
As result of this change, ordinary income and incoPHEHIRUHLQFRPHWD[HVHDFKLQFUHDVHGE\PLOOLRQ
compared with the amounts if the previous method had been applied.
Based on examination of the purpose of holding marketable securities held at the beginning of the period,
among bonds intended to be held to maturity, bonds maturing within one year are accounted for undermarketable securities in current assets. Others are accounted for under investment securities.
$VDUHVXOWRIWKLVFKDQJHPDUNHWDEOHVHFXULWLHVXQGHUFXUUHQWDVVHWVGHFUHDVHGE\PLOOLRQDQG
LQYHVWPHQWVHFXULWLHVLQFUHDVHGE\PLOOLRQ
3. Accounting Standards for Foreign Currency Transactions
Beginning in fiscal 2000, the Company is applying revised accounting standards for foreign currencytransactions. The effect of this change on the amounts in the financial statements is immaterial.
4. Application of Market Value to Other Marketable Securities
Beginning in fiscal 2000, other marketable securities to which market values apply are stated at market
value.
In accordance with a directive issued by the Ministry of Finance in 2000, the balance sheet amounts of theseother marketable securities are as follows:
%DODQFHVKHHWDPRXQWPLOOLRQ
0DUNHWYDOXH
PLOOLRQ'LIIHUHQFH
PLOOLRQ'HIHUUHGWD[OLDELOLW\PLOOLRQ
0LQRULW\LQWHUHVWVPLOOLRQ- 13 -

NotesBalance Sheet Items

Accumulated depreciation of tangible fixed assets
Discounted notes receivable
Treasury stock

As of March 31,
2001(Millions of yen)
As of March 31,
2000

280,927
1,634
2,346 shares
PLOOLRQ 

271,087
1,401
1,886 shares
PLOOLRQ 

Notes due on the last day of the fiscal year are processed on the bill clearing day. The following notes
outstanding due on the last day of the fiscal year, a bank holiday, were included in the year-end balances:
7UDGHQRWHVUHFHLYDEOH PLOOLRQ
1RWHVSD\DEOH
PLOOLRQCash Flow Statement Items
Relationship between the ending balance of cash and cash equivalents and items presented in the consolidatedbalance sheets:(Millions of yen)
Year ended
Year ended
March 31, 2001
March 31, 2000
Cash and deposits
27,16927,060Time deposits with maturities exceeding three months
(472)
(366)
Securities redeemable within three months
4,948
15,314
Total
31,64442,007

Lease Transactions
Finance Lease Transactions Other than Those that Transfer Ownership
1. Acquisition cost, accumulated depreciation and net book value of leased assets(Millions of yen)
Year ended March 31, 2001
Machinery,
Tools &
Othersequipment
fixtures& vehicles
Acquisition cost
Accumulated depreciation
Net book value

2,036
970
1,065

2,045
1,252
793

288
187
100

2. Year-end balance of future minimum lease payments
As of March 31, 2001

Due within one year
Due over one year
Total

Total

Year ended March 31, 2000
Machinery,
Tools &
Othersequipment
fixtures& vehicles

4,369
2,410
1,959

2,195
1,054
1,140

1,925
912
1,013

253
119
133

Total

4,373
2,085
2,288

(Millions of yen)
As of March 31, 2000

839
1,120
1,959

804
1,483
2,288

Note: Total acquisition cost is calculated before deducting portions attributable to interest expense, as the balance ofaccrued lease expenses accounts for only a small percentage of tangible fixed assets.

3. Lease payments
Lease payments
Depreciation expense

As of March 31, 2001
838
838

(Millions of yen)
As of March 31, 2000
877
877

4. Method of calculating depreciation expense
Depreciation expense of leased assets is calculated using the straight-line method, assuming the lease periods as theuseful lives and no residual value.

- 14 -

5. Segment Information
Industry Segment Information
Fiscal 2000 (April 1, 2000-March 31, 2001)
1. Net sales & operating income:Net sales:(1) Sales to outside customers(2) Intersegment sales and transfers
Total
Operating expenses
Operating income (loss)
2. Assets, depreciation and capital
expenditures:
AssetsDepreciation
Capital expenditures(Millions of yen)

Chemical
Products

Advanced
Materials

OthersTotal

Eliminations& Corporate

Consolidated

169,577
3,975
173,552
174,831(1,279)135,552
2,338
137,860
127,004
10,855

17,975
1,160
19,135
16,681
2,454

323,075
7,473
330,549
318,518
12,030(7,473)(7,473)(7,621)
147

323,075
323,075
310,896
12,178223,153
11,192
9,174

185,257
7,901
13,11533,844998
981

442,255
20,092
23,271

44,714-

486,970
20,092
23,271

Advanced
Materials

Others

Total

Fiscal 1999 (April 1, 1999-March 31, 2000)
Chemical
Products(Millions of yen)
Eliminations& Corporate

Consolidated

1. Net sales & operating income:Net sales:(1) Sales to outside customers
149,155
122,032
18,343
289,531289,531(2) Intersegment sales and transfers
4,206
1,212
2,060
7,479
(7,479)
Total
153,362
123,244
20,404
297,010(7,479)289,531
Operating expenses
155,810
117,575
18,499291,885(7,646)284,238
Operating income (loss)(2,448)
5,668
1,904
5,125
167
5,293
2. Assets, depreciation and capital
expenditures:
Assets206,562
170,798
35,779413,140
67,890481,030
Depreciation
11,314
7,690
982
19,987
19,987
Capital expenditures
13,966
9,344
847
24,15824,158Notes:
1) Business segments are classified as Chemical Products, Advanced Materials and Others, on the basis of the type of products,
markets, and type of business.
2) Principal Products of Each Business Segment
Chemical Products: Methanol, ammonia, urea, xylene and xylene derivatives, hydrogen peroxide, polyhydric alcohol, hydrazine
hydrate and other industrial chemicals
Advanced Materials: Engineering plastics, printed circuit board materials, printed circuit boards, electronic materials, oxygen
absorbing agent AGELESSOthers: Gasification equipment and purification equipment for high-purity gases, disposable heating pads
 &RUSRUDWHDVVHWVLQFOXGHGLQ³(OLPLQDWLRQV &RUSRUDWH$VVHWV´IRUILVFDODQGILVFDOZHUHPLOOLRQDQG863
million, respectively, and consist primarily of surplus funds (cash and deposits and marketable securities), long-term investments(investment securities, etc.) and assets relating to the administrative operations of the parent company.

Geographical Segment Information
Fiscal 2000 (April 1, 2000-March 31, 2001)
As net sales and total assets of the consolidated subsidiaries outside Japan constituted less than 10 percent of theconsolidated totals for fiscal years 2000 and 1999, disclosure of geographical segment information has been omitted.

- 15 -

Overseas Sales
Fiscal 2000 (April 1, 2000-March 31, 2001)
Category
I. Overseas net sales
II. Consolidated net sales
III. Overseas sales/Consolidated net sales(Millions of yen)Asia
71,383

North &South America
19,608

22.1%

6.1%

Others6,143
1.9%

Fiscal 1999 (April 1, 1999-March 31, 2000)
Category

Total
97,135
323,075
30.1%(Millions of yen)
Asia

North &South America
9,986

OthersTotal

I. Overseas net sales
52,892
6,114
68,993
II. Consolidated net sales
289,531
III. Overseas sales/Consolidated net sales
18.3%
3.4%
2.1%
23.8%
Notes:
1) Country and regional segments are based on geographic proximity.
2) Main countries and regions included in each segment:(a) Asia: Thailand, Malaysia, India, Indonesia, Korea, China and Taiwan(b) North & South America: U.S.A., Mexico and Brazil(c) Other: Australia, New Zealand, Germany, Netherlands, Italy, Great Britain and South Africa
3) Overseas net sales are export sales of the Company and domestic consolidated subsidiaries and sales (other than exports fromJapan) of overseas subsidiaries.

- 16 -

6. Production, Orders and Sales
Production
Fiscal 2000 (Year ended March 31, 2001)
Business Segment
Fiscal 2000
Chemical Products
105,802
Advanced Materials
114,672
Other
7,927
Total
228,401(Millions of yen)

Fiscal 1999
93,767
112,4785,490
211,735

Notes:
1. Amounts shown are based on selling prices.
2. Consumption taxes are not included in the amounts above.

Status of Orders
Because the MGC Group carries out production according to projections, this information is not available.
Sales
Fiscal 2000 (Year ended March 31, 2001)
Business Segment
Fiscal 2000
Chemical Products
169,577
Advanced Materials
135,522
Other
17,975
Total
323,075(Millions of yen)

Fiscal 1999
149,155
122,032
18,343
289,531

Note: Consumption taxes are not included in the amounts above.

- 17 -

7. Marketable Securities
Fiscal 2000 (As of March 31, 2000)(Millions of yen)
Balance sheet amount

As of March 31, 2000
Fair value

Valuation gain (loss)

41,09884
233
41,41668,45981
180
68,721

27,360(2)(53)
27,304

19,70550²
19,756
61,173

17,61254²
17,66686,387(2,093)3²(2,090)25,214(1) Items classified as current assets:
Stocks
Bonds
OthersSub-total(2) Items classified as fixed assets:
Stocks
Bonds
OthersSub-total
Total

Notes:
1. Standards for calculating fair value(1) Listed marketable securities:
Closing prices on Tokyo Stock Exchange(2) Marketable securities traded over-the-counter:
Closing prices quoted by the Japan Securities Dealers Association(3) Beneficiary certificates of unlisted investment trusts:
Standard prices(4) Unlisted securities:
Valuation computed based on yield and remaining maturity period of OTC standard bonds, as published by the Japan Securities
Dealers Association.
2. Book values of securities excluded from the above information as of March 31, 2001 were as follows:(Millions of yen)
Current assets:&RPPHUFLDOSDSHU
Unlisted foreign securities
Securities under repurchase agreement
Other
Fixed assets:
8QOLVWHGHTXLW\VWRFNV H[FHSWIRU27&VWRFNV 
Unlisted foreign securities
Other
5,230
2,999
523

2,176
158- 18 -

Fiscal 2000 (As of March 31, 2001)
1. Held-to-maturity securities with market value
Balance sheet amount
Securities with market values thatexceed amount on consolidatedbalance sheets:(1) Government and municipal
bonds(2) Corporate bonds(3) Others
Total

50
2,176
48
2,275

Fair value(Millions of yen)
Valuation gain (loss)

54
2,444
48
2,547

4
268
0
272

2. Other marketable securities sold during fiscal 2000 (April 1, 2000-March 31, 2001)(Millions of yen)Amount soldTotal profit on sales
Total loss on sales
19,1661,228
16
3. Description and consolidated balance sheet amount of securities without market value (As of March 31, 2001)(Millions of yen)
Balance sheet amount
Investments in affiliates
Unlisted equity securities (excluding over-the-counter stock)
5,443
Other marketable securities
Unlisted equity securities (excluding over-the-counter stock)
2,952
Corporate bonds
1,230
Investment trusts and others
4,947
Total
14,573
4. Projected future redemption of securities with maturities and held-to-maturity bonds included in othermarketable securities (As of March 31, 2001)(Millions of yen)
Due within
Due after 1-5
Due after 5-10
Due after 10 years
one year
years
years
(1) Bonds
Corporate bonds-2,176--Other
65
99
20
2
Total
65
2,275
20
2

- 19 -

8. Contract Amounts, Market Value and Valuation Gain/Loss of Derivative Transactions
Fiscal 2000 (As of March 31, 2001)
Currency transactions(Millions of yen)Type of transaction

Forward exchange
contracts
7RWDO

U.S. dollars selling
U.S. dollars buying

Fiscal 2000
Total
Marketvalue
Due overone year
12
-13
1,157
131
1,364

²


Unrealized
gain (loss)
(0)
207


Note: Market value at year-end is computed using prices on the futures market.

Interest transactions(Millions of yen)Type of transaction

Interest rate
swaps

Fixed rate received
for variable rate
Variable rate received
for fixed rate

Total

Fiscal 2000
Total
Marketvalue
Due overone year

Unrealized
gain (loss)

--

--

--

--

72,467
72,467

27,53427,534

(648)
(648)

(648)
(648)

Note: Market value is computed based on prices given by financial institutions with which the Company has business relations.

Fiscal 1999 (As of March 31, 2000)
Currency transactions(Millions of yen)Type of transaction

Forward exchange
contracts
7RWDO

U.S. dollars selling
U.S. dollars buying

Fiscal 2000
Total
Marketvalue
Due overone year---1,703-1,712²

Unrealized
gain (loss)-8

Notes:
1. Market value at year-end is computed using prices on the futures market.
2. Receivables and payables in foreign currencies, of which yen amounts at settlement were fixed and stated at thecorresponding yen amounts on the balance sheet due to future contracts, are excluded from the above information.

Interest transactions(Millions of yen)Type of transaction

Interest rate
swaps

Total

Fixed rate received forvariable rate
Variable rate received
for fixed rate

Fiscal 2000
Total
Marketvalue
Due overone year

Unrealized
gain (loss)

4,000

--

45

45

30,231
34,231

17,991
17,991

(191)
(146)

(191)
(146)

Note: Market value is computed based on prices given by financial institutions with which the Company has business relations.

- 20 -

9. Retirement Benefits
Description of retirement benefit system used
The Company and its domestic consolidated subsidiaries have defined benefit retirement planscomprising tax-qualified noncontributory pension plans and lump-sum payment plans. In addition,certain consolidated subsidiaries have welfare pension plans.
Retirement benefit obligation (As of March 31, 2001)
1. Projected benefit obligation
2. Plan assets at fair value
3. Assets contributed to the pension trust
4. Funded status (1+2+3)
5. Unrecognized actuarial loss
6. Unrecognized prior service cost
7. Amount recognized in consolidated balance sheet (4+5+6)
8. Prepaid retirement and severance benefits
9. Reserve for retirement and severance benefits (7-8)(Millions of yen)
(41,982)
13,433
16,157(12,391)
3,355
(605)
(9,641)434(10,076)

Note: Some subsidiaries use the simplified method in calculating the retirement benefit obligation.

Net periodic pension cost (Year ended March 31, 2001)
1. Service cost
2. Interest cost
3. Expected return on plan assets
4. Amortization of transition obligation existing at April 1, 2000
5. Amortization of actuarial loss
6. Amortizaton of prior service cost
7. Net periodic pension cost ((1)+(2)+(3)+(4)+(5)+(6))(Millions of yen)
1,809
1,350
(325)
11,557776(5)15,162

Note: Retirement benefit expenses for consolidated subsidiaries that use the simplifiedPHWKRGDUHLQFOXGHGLQ³6HUYLFHFRVW´

Basis for calculation of retirement benefit obligation, etc.
1. Periodic allocation method for projected benefits
2. Discount rate
3. Expected rate of return on plan assets
4. Period for amortization of unrecognized prior service cost
5. Period for amortization of unrecognized actuarial loss
6. Period for amortization of transition obligation existing at April 1, 2000

- 21 -

Straight-line
Primarily 3.5%
Primarily 2.5%
10 years
10 years
Lump sum infirst year

10. Deferred Tax Accounting
1) Breakdown of major factors giving rise to deferred tax assets and liabilities
Fiscal 2000 (As of March 31, 2001)(Deferred tax assets)
Reserve for retirement and severance benefits
Elimination of intercompany profits
$FFUXHGHPSOR\HHV¶ERQXVHV
Depreciation
Other
Total

(Millions of yen)
7,702
1,584
891
693
2,065
12,938(Deferred tax liabilities)
Gain on contribution of assets to pension trust
Reserve for appropriation of profits, etc.
Other
Total
Net deferred tax assets(3,948)(3,611)(946)(8,505)4,4322) The effective income tax rate of the Company differed from the statutory tax rate for the following reasons:(%)
Statutory tax rate
40.9
(Adjustments)
Equity in earnings of affiliated companies-20.1
Tax credit for exploration cost
-2.7
Dividend income not credited for tax purposes-0.3
Entertainment expenses not deductible for tax purposes
2.3
Other
0.4
Effective tax rate
20.5

- 22 -

11. Related Party Transactions
1) Subsidiaries and Affiliates
Fiscal 2000 (Year ended March 31, 2001)
Type
Name ofcompany
Address&DSLWDO
Description ofbusiness
Equityownership
Description ofrelationship
Description andamount oftransactions

Affiliate
Mitsubishi Engineering-Plastics Corp.
Chuo-kuTokyoPLOOLRQProcessing and sale of synthetic resins
50% directly owned
Directors serving concurrently,
etc.
Business relationshipSale of synthetic resins
Sale of investment securities
Proceeds
Realized gain

Concurrent: 3 Dispatched: 3 Transferred: 3Sale of synthetic resins
AmountPLOOLRQPLOOLRQ
PLOOLRQLine item
Accounts
receivable---

Ending balancePLOOLRQ
---

Notes:
1. In the sale of synthetic resins, selling prices are determined in the same way as ordinary transactions through price negotiations
based on reference to market prices. Consumption tax is not included in transaction amounts, but is included in the ending balanceof accounts receivable.
2. Selling prices of investment securities are determined by net asset value, and paid for on a lump-sum cash basis.

- 23 -

Unconsolidated Financial Statements for the Fiscal Year Ended March 31, 2001
May 25, 2001
These financial statements have been prepared for reference only in accordance with accounting principles and practices
generally accepted in Japan.
Mitsubishi Gas Chemical Co., Inc.
Head office location: Tokyo
Contact: Jin Hata
General Manager
Public & Investor Relations Division

Stock exchange listings:
Code number:
Board of Directors meeting:General Meeting of Shareholders:Interim dividend system:

Tokyo, Osaka, Nagoya
4182
May 25, 2001
June 28, 2001
Yes

1. Results for Fiscal 2000 (April 1, 2000-March 31, 2001)(1) Sales and Income
Fiscal 2000
Fiscal 1999

Fiscal 2000
Fiscal 1999

Net sales
Pillion)
222,817
209,503Year-on-yearchange (%)
+ 9.2
+ 1.0

Note: All amounts are rounded down to the nearest million yen.
Operating income
Year-on-year
Ordinary income
Year-on-yearPillion)change (%)
Pillion)change (%)
5,060+ 2,946.6
4,593+ 19.5166- 87.43,843- 2.7

Net income
Pillion)

Year-on-yearchange (%)

Earnings
SHUVKDUH  

2,355
2,458

- 4.2
+ 103.2

4.87
4.95

Earnings
per share(diluted)  ²²

Return on
equity (%)
1.8
1.9

Ordinary
income/total
assets (%)
1.3
1.1

Ordinary
income/net
sales (%)
2.0
1.8

Notes:
1. Average number of shares outstanding: 483,561,731 shares (Fiscal 1999: 496,954,065 shares)
2. Changes in accounting methods: Yes
3. Year-on-year change for net sales, operating income, ordinary income and net income is based on the previous fiscal year.

(2) Dividends
InterimYear-end

Total cash dividends
Pillion)

Payout ratio
(%)

1.50
2.50

2.50
2.50

1,933
2,460

82.1
100.1

Dividends per share ()Fiscal 2000
Fiscal 1999

4.00
5.00

Dividends /6KDUHKROGHUV¶
equity (%)1.5
1.9(3) Financial Position
Total assets
6KDUHKROGHUV¶HTuity
6KDUHKROGHUV¶HTuity/total
6KDUHKROGHUV¶HTuity
Pillion)
Pillion)
assets (%)
SHUVKDUH  
Fiscal 2000
340,901
132,30338.8
273.65
Fiscal 1999
353,708
132,42737.4
272.78
Note: Number of shares outstanding at end of period: 483,478,398 shares (Fiscal 1999: 485,478,398 shares)

2. Projected Results for Fiscal 2001 (April 1, 2001-March 31, 2002)
Net sales
Pillion)

Ordinary income
Pillion)

Net income
Pillion)

Interim period
114,000
1,800
Fiscal 2001
238,000
8,000
Reference: Estimated earnings per share (fiscal  .96

-1-

1,300
5,300

Annual cash dividends per share ()Interim2.50²

Year-end
²
2.50

²
5.00

1. Balance Sheets(Millions of yen)

ASSETS
Current assets
Cash and deposits
Notes receivable
Accounts receivable
Marketable securities
Accrued receivables
Short-term loans
Finished products
Semi-finished products
Raw materials andinventories
Prepaid expenses
Deferred tax assets
Other current assets
Allowance for doubtfulreceivables
Fixed assets
Tangible fixed assets:
Buildings
Structures
Machinery andequipment
Vehicles and carriers
Tools, furniture and
Fixtures
Land
Construction in progress
Intangible fixed assets:
Patents
Software
Other intangible fixed
assetsInvestments and Other
AssetsInvestment securities
Stocks and loans of
Subsidiaries
Long-term loans
Long-term prepaid
expenses
Deferred tax assets
Other assets
Allowance for doubtfulreceivables

Total Assets

As ofMarch 31,
2001

As of
March 31,
2000

Increase(decrease)

141,971
10,572
10,28875,509
1,200
4,027
556
19,121
5,359

183,098
16,067
9,283
58,16953,9992,351
7,625
16,6104,851(41,127)(5,495)
1,004
17,339(52,799)
1,676(7,069)2,511
508

11,674
1,235
1,232
1,442

12,647
856
557
345

(972)
379
674
1,097

(250)

(268)

18

198,930
123,615
23,615
13,319170,609130,445
23,267
12,85328,320(6,829)348
466

56,824
191

58,135238(1,310)(46)

4,555
16,032
9,075
1,048
148
693

4,097
16,037
15,816
1,142
184
736

457
(4)
(6,740)
(93)
(35)
(42)

206

221

(15)

74,26639,75239,022
6,532

35,24333,22027,946861

26,896
1,108

1,049
(246)

2,765
512
2,762

1,771
²
2,720

993
512
41

(335)

(7)

(328)

340,901

353,708

LIABILITIESCurrent liabilities
Notes payable
Accounts payable
Short-term borrowings
Bonds redeemablewithin one year
Convertible bonds
redeemable within one
year
Deferred payables
Accrued income taxes
Accrued expenses
Deposits
Allowance for bonuses
Other current liabilities
Long-term liabilities
Bonds
Convertible bonds
Long-term borrowings
Deferred tax liabilities
Reserve for retirement
allowances
Reserve for retirement
benefits
Reserve for direFWRUV¶
retirement bonuses
Other
Total liabilities(12,806)

6+$5(+2/'(56¶EQUITY
Common stock
Additional paid-in
capitalLegal reserve
Retained earnings:
Research & development
capitalReserve for retirement
benefits
Reserve for overseas
businesses
Reserve for renewalof facilities
Reserve for exploration
Reserve for asset
compression
Reserve for writedown of
fixed assets
Reserve for special
depreciation
Reserve for loss onoverseas investments
General reserve
Unallocated profit
Total shareholders¶HTuity
Total Liabilities andShareholders¶(TXLW\

-2-

As of
March 31,
2001

As of
March 31,
2000

Increase(decrease)

122,495
3,526
35,56649,709118,388
2,695
30,19762,506

4,107
831
5,368
(12,797)

10,000²

10,000

1,428
6,948
2,458
8,441
371
2,995
1,050
86,10140,000²
37,584
²

²
7,747
69
7,336
4,550
3,013
271
102,892
50,0001,428
35,484
1,131

1,428
(799)
2,388
1,105
(4,179)(18)779(16,790)(10,000)(1,428)2,100(1,131)²

14,456(14,456)

7,399

²

7,399

824
293
208,597²
392
221,280824(98)(12,683)

41,97041,970035,5186,878
47,93735,518
6,683
48,255

0
194
(317)

1,500

1,500

0

500

500

0

7,500

7,500

0

1,700
1,136

1700
1,426

0
(290)

2,902

2,889

12

²

125

(125)

414

441

(27)

296
25,3006,687
132,303407
28,0003,764
132,427(111)(2,700)
2,923
(123)

340,901

353,708(12,806)

2. Statements of Income(Millions of yen, %)Increase(decrease)
19,314
15,2504,063

Net sales
Cost of sales
Gross profit

Year ended
March 31, 2001
228,817100.0%
193,577
84.6
35,23915.4

Year ended
March 31, 2000
209,503100.0%
178,32785.1
31,175
14.9

Selling, general and administrative
expenses
Operating income

30,178
5,060

13.2
2.2

31,009
166

14.8
0.1

(830)
4,894

Non-operating income:Interest and dividend income
Gain on sale of securities
Other

5,265
2,042
²
3,223

2.3

9,603
2,574
4,886
2,141

4.5

(4,337)(532)(4,886)
1,081

Non-operating expenses:
Interest expenses
Bond interest
Other
Ordinary income

5,733
1,424
1,317
2,991
4,593

2.5

2.8

2.0

5,925
1,682
1,325
2,918
3,843

1.8

(192)
(258)
(7)
72
749

Extraordinary gains
Gain on establishment of retirement
benefit trust
Gain on sale of investment securities
Gain on sale of fixed assets
Reversal of allowance for doubtfulreceivables

11,5095.0²²

11,509Extraordinary loss
Amortization of net retirement benefit
obligation at transition
Provision for dirHFWRUV¶Uetirement
bonuses
Loss on disposal of fixed assets
Depreciation of exploration cost
Loss on restructuring affiliates
Loss on devaluation of other investments
Loss on devaluation of investment
securities
Income before income taxes

13,518

322
2,584

1.1

459
2,251

1.1

(137)
333

Corporate, inhabLWDQW¶V and enterprise taxes
Adjustments to corporate taxes, etc.

2,547
(2,318)

1.1
(1.0)

477
(684)

0.2
(0.3)

2,069
(1,633)

Net income
Income carried forward from previous term
Adjustment of deferred income taxes
Reversal of accelerated depreciation reserve
associated with application of tax effectaccounting
Interim dividend
Profit reserve
Retirement of treasury stock
Unappropriated profit

2,355
5,670
²

1.0

2,458
3,131
(1,258)

1.2

(102)
2,539
1,258

9,394
1,543
546

²
²
²

9,394
1,543
546

25

²

25

5.9

1,592

0.7

11,926

10,577²

10,577

649
628
625
392
322

²
356
776
²
²

649
272
(150)
392
322

²
725
72
539
6,687

-3-

3,540
1,246
124
2,736
3,764

(3,540)(521)(52)(2,196)2,923

3. Statements of Appropriation of Retained Earnings
Year ended
March 31,
2001
6,687
17
131

Year ended
March 31,
2000
3,764
290
²

(Millions of yen)
Increase(decrease)

Unappropriated retained earnings at end of year
2,923
Transfer from reserve for exploration(272)
Transfer from reserve for writedown of fixed assets
131
Transfer from reserve for special account for
writedown of assets
²
125
(125)
Transfer from reserve for special depreciation
78
27
51
Transfer from reserve for losses on overseas
investments
104
111
(7)
Transfer from general reserve²
2,700(2,700)Total unappropriated retained earnings
7,019
7,018
1
We propose to appropriate the foregoing as follows:
Legal reserve
121
122
(1)
Dividends
1,208
1,213
(5)
[Dividends per share )]>2.50]>2.50]>0.00]Reserve for writedown of fixed assets
²
12
(12)
Reserve for special account for writedown of assets
252
²
252
Total amount appropriated
1,581
1,348
233
Profit carried forward to next term
5,438
5,670
(232)
Note: On December 8, 2000, the Company paid an interim cash dividend of5 million .50 per share).

-4-

Significant Accounting Policies
1. Valuation of Securities
Held-to-maturity securities:
Shares of subsidiaries and affiliates:
Other securities

Valued at amortized cost
Valued at cost using the moving-average method
Valued at cost using the moving-average method

2. Standards and methods of valuationof inventory assets

Valued at cost using the weighted average cost method

3. Valuation of Derivatives:

Fair value

4. Depreciation of Fixed Assets
Tangible fixed assets
Intangible fixed assets

Straight-line method
Straight-line method

5. Deferred assets

Stated in full in the period in which the expense is incurred

6. Accounting Standards for Major Reserves
Allowance for doubtful receivables:
The Company provides for uncollectible receivables based on historical loss ratios after auditing
doubtful receivables to gauge the likelihood of recovery.
Reserve for bonuses:
The reserve for bonuses to employees is provided according to the estimated amount to be paid
during the period.
Reserve for retirement benefits:
The Company provides for retirement benefits based on the present value of future retirement
benefit obligation projected at the beginning of each fiscal year attributable to employee services
rendered by the end of the fiscal year, and the estimated amount of pension plan assets.
A trust for retirement benefits was established with securities held by the Company and thedifference resulting from the change in accounting VWDQGDUGV Pillion) was amortized in alump sum during the year ended March 31, 2001.
Reserve for retirement bonuses to directors:
Stated as the amount to be paid in accordance with internal Company regulations.
(Change in Accounting Methods)
Previously, retirement bonuses to directors were expensed as incurred. Beginning in the fiscal year
ended March 31, 2001, a reserve is provided for such bonuses in the amount to be paid at the endof the period in accordance with the CompDQ\¶s internal regulations.
This change was made in view of the fact that setting a reserve for GLUHFWRUV¶ retirement bonuses is
becoming established as a standard accounting practice. The Company implemented the change infiscal 2000 along with the revision of internal regulaWLRQVFRQFHUQLQJGLUHFWRUV¶ retirement benefits,
in order to further increase the rationality of profit and loss for each period and improve financial
soundness by distributing thHH[SHQVHRYHUWKHGLUHFWRUV¶ terms of office.
The amRXQWRIPillion incurred in the year ended March 31, 2001, in accordance with thischange, was recorded in selling, general and administrative expenses. The equivalent amount forpast years was recorded as an extraordinary loss of Pillion. As a result, operating income andordinary income each decreased byPillion, and income before income taxes decreased byPillion, compared with the respective amounts if the former method had been applied.

-5-

As the internal regulations were revised during the second half of the fiscal year, the former
method was used for the first half.
If the method used after the change had been applied in the first half, operating income andordinaryLQFRPHZRXOGHDFKKDYHLQFUHDVHGE\million and income before income taxes would
have increased by Pillion.
Gains or losses resulting from changes in the amount of either the projected benefit obligation orplan assets during the fiscal year are amortized using the straight-line method from the following
fiscal year, over a five-year period.
7. Accounting for Lease Transactions
Finance lease transactions other than those for which ownership is deemed to be transferred to thelessee are accounted for as ordinary lease transactions.
8. Consumption taxes
Consumption taxes are excluded from revenues and expenses.

Additional Information
1. Accounting for Retirement Benefits
Beginning in fiscal 2000, the Company is applying new accounting standards for retirement benefits.
As a result of this change, retirement benefit expenses for the fiscal year increased by
million and ordinary income decreased byPillion, compared with the respective amounts if
the previous method had been applied.
7KHXQUHDOL]HGORVVRI577 million arising from thLVFKDQJHDQGDJDLQRI394 million on theestablishment of a retirement benefit trust were recorded in extraordinary gains and losses. As aresult, income before income taxes decreased byPillion.
The reserve for retirement allowances to employees isLQFOXGHGLQ³5HVHUYHIRUUetiremHQWEHQHILWV´
2. Accounting for Financial Instruments
Beginning in fiscal 2000, the Company is applying new accounting standards for financial
instruments, which include a change in the method of valuation of marketable securities.
As result of this change, ordinary income and income before income taxes each increased by243
million, compared with the amounts if the previous method had been applied.
Based on examination of the purpose of holding marketable securities held at the beginning of theperiod, among bonds intended to be held to maturity, bonds maturing within one year are accounted
for under marketable securities in current assets. Others are accounted for under investment
securities.
As a result of this change, marketable securities under current assetVGHFUHDVHGE\Pillion
and investment securities increased byPillion.
3. Accounting Standards for Foreign Currency Transactions
Beginning in fiscal 2000, the Company is applying revised accounting standards for foreign
currency transactions. The effect of this change on the amounts in the financial statements isimmaterial.

-6-4. Application of Market Value to Other Marketable Securities
Beginning in fiscal 2000, other marketable securities to which market values apply are stated atmarket value.
In accordance with a directive issued by the Ministry of Finance in 2000, the balance sheet amountsof these other marketable securities are as follows:
Balance sheet amount ,585 million
Market value,213 million
DifferencePillion
Deferred tax liability Pillion
Notes to Balance Sheets(Millions of yen)

Fiscal 2000
Fiscal 1999
1. Accumulated depreciation of tangible fixed assets
221,062
216,555
2. Pledged assets
2,661
2,661
3. Loans guaranteed
25,85917,254
4. Number of treasury shares and balance sheet value
2,346 shares
1,886 shares
00
5. Decrease in number of shares outstanding during the fiscal year
Retirement of shares using profit
Number of shares retired:
2,000,000
Total acquisition cost:Pillion
6. Balance of notes outstanding due to business holiday on last day of the fiscal year
Trade notes receivable Pillion
Notes payable53 million
Notes Pertaining to Lease Transactions

Items pertaining to lease transactions other than those that transfer ownership:
1. Acquisition cost, accumulated depreciation and ending balance of leased assets(Millions of yen)Tools, furniture and fixtures
Others
Total

Acquisition
cost
1,389
68
1,458

Accumulated
depreciation
866
28
894

2. Future lease payments at end of period(Millions of yen)

Due within one year
Due after one year
Total

Fiscal 2000
291
271
563

Fiscal 1999
289
466
756

-7-

Ending balance
523
39
563

3. Equivalent amount of lease payments and depreciation expense(Millions of yen)

Lease payments
Depreciation expense

Fiscal 2000
300
300

Fiscal 1999
288
288

4. Method of calculating depreciation expense equivalent
Depreciation expense equivalent of leased assets is calculated using the straight-line method,
assuming the lease periods as the useful lives and no residual value.
5. Method of calculating acquisition cost and year-end balance of future lease payments
Total acquisition cost is calculated before deducting portions attributable to interest expenses, as
the balance of accrued lease expenses accounts for only a small percentage of tangible fixed assets.

Notes Related to Marketable Securities
Stocks of subsidiaries and affiliates traded on stock exchanges(Millions of yen)

Stocks of
subsidiaries
Stocks of affiliates

Balance sheet
amount²

Market value

Difference

²

²

2,951

8,319

5,368

Deferred Tax Accounting
1. Breakdown of major factors giving rise to deferred tax assets and liabilities (Millions of yen)
(Deferred tax assets)
Reserve for retirement benefits
7,139
Excess in reserve for bonuses
646
Excess in depreciation
582
Other
1,100
Total
9,470
(Deferred tax liabilities)
Gain on establishment of retirement benefit trust
Reserve for reduction of fixed assets
Other
Total
Net deferred tax assets(3,948)(2,009)(1,767)(7,724)
1,745

2. The effective income tax rate of the Company differed from the statutory tax rate for the following reasons:Statutory tax rate
(Adjustments)
Expenses not deductible for tax purposes
Non-taxable dividend income
Deduction of exploration costs from income
Income not subject to business tax
Other
Effective tax rate

42.0%
5.9%
-18.7%
-9.8%
-8.9%
-1.6%
8.9%

-8-

Management Changes(Scheduled for June 28, 2001)
1. Changes in Representatives(1) Promotions(2) Retirements(New title)
Director and Chairman
Director and President
Senior Managing Director(Current title)
Director and Chairman
Senior Managing Director

Akira Ohira
Hideki Odaka
Yukio Ikeda

Reiji Nishikawa
Yasuo Imai

(Current title)
Director and PresidentManaging Director
Managing Director(After retirement)Counselor
AdvisorDirector and President of
Ryoyo Shoji Co., Ltd.

2. Changes in Directors(1) Promotions(2)New
appointments(3) Retirements(New title)
Managing Director
Managing Director
Managing Director
Managing Director

Hiroshi Watanabe
Rokuro Inoue
Kiichi Goto
Yasuhiko Kijima(New title)
Director

Shoji Uematsu

Director

Kazuo Sakai

Director

Toshio Kawasaki(Current title)
Managing Director

Yasuhisa KatoManaging Director

Sadao Masaki

Director

Toru Tanaka(Current)Counselor

Wakichi Nagano(Current title)
Director
Director
Director
Director(Current title)
Manager of Niigata Factory,
Natural Gas Chemicals Company
Administrative Division Manager,
Aromatic Chemicals Company
General Affairs Personnel
Manager and Personnel GroupManager(After retirement)
AdvisorDirector and President of MGC
Engineering Co., Ltd.
AdvisorDirector and President of Japan
Circuit Industrial Co., Ltd.
Senior Managing Director ofJapan Hydrazine Co., Inc.

3. Other Changes(1) Retirements-9-(After retirement)
Special Advisor

4. Background of Newly Appointed Representative Directors

New Title
Name
Place of birth
Education completed
Date of birth
Brief history

New Title
Name
Place of birth
Education completed
Date of birth
Brief history

Director and President
Hideki Odaka
Tokyo
March 1965
Graduated from Dept.of Commercial Science, Hitotsubashi
Univ.
March 12, 1942
April 1965
Joined Mitsubishi Edogawa Chemical Co., Ltd. (Now
Mitsubishi Gas Chemical Co., Ltd.)
June 1994
General Manager, Affiliated Businesses Div.
June 1997
Appointed Director in Charge of Administrative Div., Asset
Usage Promotion Office, and Affiliated Businesses Div.
June 1999
Appointed Managing Director in Charge of Synthetic Resin
Business Div.
June 2000
Appointed Managing Director in Charge of Management
Planning Div.
June 28, 2001 To be appointed Director and President

Senior Managing Director
Yukio Ikeda
Shizuoka Prefecture
March 1964
Graduated from Dept. of Economics, Tokyo University
October 21, 1940
April 1964
Joined Japan Gas Chemical Co., Inc. (Now Mitsubishi
Gas Chemical Co., Ltd.)
June 1994
General Manager, Personnel Div. and General Manager,
Human Resource Development Div.
June 1996
Appointed Director and Manager of Planning Dept., General
Planning Div.
June 1998
Appointed Managing Director and Manager of General Planning
Div.
June 2000
Appointed Managing Director in Charge of General
Affairs Personnel Div. and PR & IR Div.
June 28, 2001 To be appointed Senior Managing Director-10-