Presentation Material:
Announcement of FY2005 Interim
Results
November 15, 2005
Cleanup Corporation
Tokyo Stock Exchange, 1st Section, Code 7955
1

I. Interim Results Outline

2

Ⅰ． Interim Results Outline

1. Outline of Consolidated Results for Interim Period Ended September 2005
(Unit: millions of yen)

2005/92004/92005/9(Actual Results)

Change From
Prev. Period(Planned)

Compared
To Plan(Actual Results)

Net Sales

59,51061,148△2.7％

62,200△4.3％

Operating Income

2,700

3,686 △26.7％

3,100 △12.9％

Ordinary Profit

2,571

3,528 △27.1％

3,000 △14.3％

Interim
Net Income

1,241

1,870 △33.6％

1,300

△4.5％

25.40 yen

38.26 yen △33.6％

26.60 yen

△4.5％

Interim Net Income
Per Share3

Ⅰ． Interim Results Outline

2. Consolidated Profits ① Net Sales, Gross Profit(Billions of yen)

61.14

59.51

【Increased/Decreased Values (Rates)】

Net Sales△1.63 billion yen

38.40

37.91

（62.8）（63.7）

Cost of Sales△0.48 billion yen

Cost of Sales Ratio
＋0.9％

22.74

21.59

（37.2）（36.3）

Gross Profit△1.15 billion yen

0

2004/92005/94

Ⅰ． Interim Results Outline

2. Consolidated Profits ② SGA Expenses, Operating Income(Billions of yen)

【Increased/Decreased Values (Rates)】

22.74
21.59

Gross Profit△1.15 billion yen

SGA Expenses△0.17 billion yen

19.06

18.89

（31.2）（31.7）

SGA Ratio
＋0.5％

3.68

2.70

（6.0）

（4.5）

2004/92005/9Operating Income△0.98 billion yen

05Ⅰ． Interim Results Outline

3. Sales Composition ① By Segment (Consolidated)(Millions of yen)【2005/9】

140,000

124,391

Other
120,000

Bathrooms & Washstands
Kitchen Equipment

124,000

3,121 2.5％

3,782 3.1％

21,77917.5％

21,26517.1％

99,49080.0％

98,95379.8％

100,000

Other

3.2％

Bathtubs &18.8％
Washstands
Kitchen Equipment

78.0％

80,00061,14859,5101,457 2.4％
11,64319.0％

60,0001,881 3.2％
11,17518.8％【2004/9】
Other 2.4％

40,00020,00048,04778.6％

Bathtubs &19.0％
Washstands

46,45378.0％

Kitchen Equipment0

2004/92005/9(Current Interim Period)

2005/3

78.6％

2006/3（Term-End Forecast）

6

Ⅰ． Interim Results Outline

3. Sales Composition ② By Sales Route (Non-Consolidated)【Full-Term Base】

Direct-Sales (Condominium owners)
Housing constructors
10.0％

General Routes(Construction contractor・Home renovation)

9.5％

8.9％

15.0％

15.7％

75.5％

75.4％

13.5％

【First-Half Base】

8.3％
12.8％

78.9％

7.2％
14.6％

4.9％
15.9％

78.2％

79.2％

76.5％

0

2003/92004/92005/9(Current Interim Period)0

2004/3

2005/3

2006/3（Term-End Forecast）

7

Ⅰ． Interim Results Outline

4. Consolidated Balance Sheet Summary – 1/2【Increased/Decreased Values】(Billions of yen)【Primary Factors for Increases/Decreases】【Assets】
88.75

Current Assets

49.10

91.57

52.42

91.02

Total Assets●Current Assets△1.67 billion yen△0.54 billion yen●Fixed Assets＋1.13 billion yen●Cash and Deposits△3.54 billion yen

Cash and Deposits Notes
and Accounts Receivable

48.52△3.90 billion yen

4.47
3.14

3.24
2.85

5.07

Inventory

3.23＋1.83 billion yen(Repayment of Long-Term Debt)●Notes and Accounts Receivable△0.35 billion yen●Increase in Direct-Sales Inventory(For Condominium)

Other Current Assets
32.02

33.05

34.18

Fixed Assets●Buildings and Structures＋1.13 billion yen＋1.76 billion yen(Completion of Fee-Based Retirement Home

0. 00

“Kansha no Sato”)

2004/92005/3

2005/98

Ⅰ． Interim Results Outline

4. Consolidated Balance Sheet Summary – 2/2(Billions of yen)

【 Increased/Decreased Values 】【Liabilities･Minority Interests・Assets】

88.75

91.57

91.02

24.56

24.53

24.65

Current Liabilities△0.03 billion yen
6.21
0.05

8.22
0.06

6.61
0.06

Long-Term Liabilities△1.61
billion yen
Minority Interests【Primary Factors for Increases/Decreases】●Accounts Payable＋0.47 billion yen●Short-Term Debt
＋1.90 billion yen●Current Portion of Long-Term Debt
△4.40 billion yen●Unpaid Obligations＋0.92 billion yen●Bonus Reserves＋.032 billion yen●Advanced Payments Received＋0.83 billion yen●Long-Term Debt

△0.93 billion yen●Long-Term Unpaid Obligations＋1.15 billion yen●Retirement Benefits Reserve Fund

57.82

58.71

59.81

△1.94 billion yen

Total Assets＋1.09
billion yen●Retained Earnings＋0.71 billion yen●Unrealized Gain on Securities＋0.38 billion yen

0. 00

2004/92005/3

2005/99Ⅰ． Interim Results Outline

5. Consolidated Cash Flow Statement Summary(Billions of yen)

Cash Flow from Operating Activities

Cash Flow from Investing Activities

Cash Flow from Financing Activities

Interim (Year-End) Cash & Cash Equivalents Balance

25. 0021.29
Compared to Year-End Balance（2005/3）

18.60

20. 00

△4.04

17.24

15. 00

10. 00

5. 00

3.24

1.95

△0.20

3.03

0. 00

△5.88
△ 2.81△ 5. 00

2004/9△0.33△ 3.14 △ 3.93

2005/910

Ⅰ． Interim Results Outline

6．Capital Investments (Consolidated)【Major FY2005 Capital Investment Details】(Billions of yen)First-Half Results

8.00

R&D Costs

7.09①Dies and Equipment for New Product

Capital Investment

0.44 billion yen
6.20

Deprecation Costs

6.00②Production Facilities Rationalization
0.28 billion yen

3.95

0.19 billion yen④Information Investment

0.58 billion yen⑤Fee-Based Retirement Home
0.91 billion yen

3.65

3.65

4.00

③Showroom Transfer, etc.

3.32

Second-Half Plan
1.86

1.64

2.00

1.29
0.65

0.00

2004/91.35

0.62

2005/9(Current Interim Period)

2005/3①Production-Related

0.87 billion yen②Operations-Related

0.92 billion yen③Information-Related

0.58 billion yen④Others0.17 billion yen

2006/3（Term-End Forecast）

11

Ⅰ． Interim Results Outline

7. Outline of Non-Consolidated Results For Interim Period Ended September 2005
(Units: millions of yen)

2005/92004/92005/9(Actual Results)

Change From
Prev. Period(Planned)

Compared
To Plan(Actual Results)

Net Sales

58,11060,110△3.3％

61,000△4.7％

Operating Income

2,477

3,300 △24.9％

2,950 △16.0％

Ordinary Profit

2,580

3,346 △22.9％

3,000 △14.0％

Current Period
Net Income

1,387

1,863 △25.6％

1,400

△0.9％

Interim Net Income
Per Share

28.38 yen

38.12 yen △25.6％

28.64 yen

△0.9％
12

Ⅰ． Interim Results Outline

8. Non-Consolidated Sales Composition By Segment

120,000

8,434

Other
Industrial Kitchen Equipment
Washstands

100,000

121,110122,144(Millions of yen)

2,018
5,316

6.9％
1.7％
4.4％

16,464
13.5％

Bathrooms

8,315
1,705
5,335

6.9％
1.4％
4.4％

15,930
13.2％

Kitchen Equipment【2005/9】

Industrial
KitchenEquipment 1.4％

Other

4.9％

Washstands 4.4％
KitchenEquipment

14.8％
Bathrooms

74.5％

80,00060,00060,11058,110

3,445
1,098
2,574

2,835
2,572

9,070

8,603

819

40,00043,92389,912
73.6％

89,82574.2％【2004/9】

Industrial
KitchenEquipment 1.8％

15.1％
Bathrooms

2004/92005/9(Current Interim Period)

5.7％

Washstands 4.3％

43,281

20,0000

Other

2005/3

KitchenEquipment

73.1％

2006/3（Term-End Forecast）

13

Ⅰ． Interim Results Outline

9. Sales Results For Major Products and Cleanup Market Share - 1/4
Complete System Kitchen Sales Results(Billions ofyen)

Monetary Value

Volume

100.0

83.4

(Thousandsof sets)(Thousandsof sets)

300

1,400

83.5
250

80.0

206

57.8

206

62.3

160

Cleanup Share

1,131
1,061
985

1,186
25.0

1,049

200

20.0
800

165

150
600

399

40.0

◆

15.1

16.2

15.7

16.3

17.4

16.6 15.0
568

100

10.0
400

94
20.0

（％）

30.0

1,000

184
160

Demand Volume

1,200

74.2
67.6

60.0

Demand Trends and Market Share

50

5.0

200

Current Interim Period

0.0

0

01/3

02/3

03/3

04/3

05/3

06/3
(Planned)

0

0.0

01/3

02/3

03/3

04/3

05/3

05/9

(Current Interim Period)

14

Ⅰ． Interim Results Outline

9. Sales Results For Major Products and Cleanup Market Share - 2/4
Sectional System Kitchen Sales Results(Billions ofyen)

Monetary Value

Volume12.0

Demand Trends and Market Share(Thousandsof sets)(Thousandsof sets)

150

800

Demand Volume

Cleanup Share

（％）

30.0

696
10.0

641

9.3

120

7.7

8.0

96

90

6.0

589

600

8.4

81

547

559
20.0

7.2
6.5

85

25.0

6.3

90
15.0

400

74

4.0

70

13.8

60

14.0

14.4

14.8
13.3

13.9
257

34
◆

36

2.0

10.0

200
30

5.0

Current Interim Period

0.0

0

01/3

02/3

03/3

04/3

05/3

06/3
(Planned)

0

0.0

01/3

02/3

03/3

04/3

05/3

05/9

(Current Interim Period)15

Ⅰ． Interim Results Outline

9. Sales Results For Major Products and Cleanup Market Share - 3/4
Modular System Bathroom Sales Results(Billions ofyen)

Monetary Value

Volume

20.0

16.3
15.2

15.9

15.5

Demand Trends and Market Share(Thousandsof sets)(Thousandsof sets)

50

800

12.2

35

25

571

570

667

608

8.0

33
30

32
10.0

（％）

10.0

40
600

33

Cleanup Share

645

15.0

12.7

Demand Volume

27

6.0
400

83

5.2
4.4

20
◆

403

5.4
4.9

4.7

4.3

4.0

18
5.0

200
10

2.0

Current Interim Period

0.0

0

01/3

02/3

03/3

04/3

05/3

06/3
(Planned)

0

0.0

01/3

02/3

03/3

04/3

05/3

05/9

(Current Interim Period)

Note: Total number of companies increased from 11 to 15 in FY2005

16

Ⅰ． Interim Results Outline

9. Sales Results For Major Products and Cleanup Market Share - 4/4
Washstands/Vanities(Billions ofyen)

Monetary Value

Demand Trends and Market Share

Volume

7.0

6.0

5.9

5.6
5.1

5.3

5.3

5.3

(Thousandsof sets)(Thousandsof sets)

150

2,400

120

Demand Volume

Cleanup Share

（％）

10.0

2,000

1,793 1,790

1,730

1,813 1,786

8.0

5.0

104

103

101

4.0

1,600

99

100

92

90

6.0

5.9
1,200

3.0

26

5.3

5.7

5.5

5.6
875

60

4.0

800

◆

2.0

5.6

49
30

1.0

2.0

400

Current Interim Period

0.0

0

01/3

02/3

03/3

04/3

05/3

06/3
(Planned)

0

0.0

01/3

02/3

03/3

04/3

05/3

05/9

(Current Interim Period)17

Ⅰ． Interim Results Outline

10. Showrooms And Visitor Numbers
Number of Showrooms(Locations)

Number of Visitors(Thousands of groups)

240

600

480

200

450
380

160

490

500

Current Interim Period
249,000 groups
400

314
120

255
85

87

95

101

104

108
Current Interim
Period104 locations

80

300

200

40

100

0

0

01/3

02/3

03/3

04/3

05/3

06/3
(Planned)18

Ⅰ． Interim Results Outline

11. Forecast Consolidated Results For The Period Ending March 2006
(Unit: millions of yen)

(Term-End Forecast)

Change From
Prev. Period

Compared
To Plan130,000

124,000

△0.3％

△4.6％

6,844

6,900

5,150

△24.8％△25.4％

Operating Margin

5.5％

5.3％

4.2％

-

-

Ordinary Profit

6,541

6,600

5,000

△23.6％△24.2％

Ordinary Profit
Margin

5.3％

5.1％

4.0％

-

-

Current Period
Net Income

3,142

3,200

2,300

△26.8％△28.1％

Current Period
Return on Revenues

2.5％

2.5％

1.9％

-

-

2005/3

2006/3

2006/3(Actual Results)(Initial Plan)

Net Sales

124,391

Operating Income

19

Ⅰ． Interim Results Outline

12. Forecast Non-Consolidated Results For The Period Ending March 2006
(Unit: millions of yen)

(Term-End Forecast)

Change From
Prev. Period

Change From
Prev. Period

127,500

121,110

△0.8％

△5.0％

6,078

6,250

4,750

△21.8％△24.0％

Operating Margin

5.0％

4.9％

3.9％

-

-

Ordinary Profit

6,040

6,150

4,800

△20.5％△22.0％

Recurring Profit
Margin

4.9％

4.8％

4.0％

-

-

Current Period
Net Income

2,948

3,000

2,340

△20.6％△22.0％

Current Period
Return on Revenues

2.4％

2.4％

1.9％

-

-

2005/3

2006/3

2006/3(Actual Results)(Initial Plan)

Net Sales

122,144

Operating Income

20Ⅱ．Summary and Progress of MediumTerm Business Plan

21

Ⅱ．Summary and Progress of Mid-Term Plan

1. Basics of Medium-Term Business Plan

2005 Medium-Term Business Plan (FY2005 ～FY2007)
OperatingVisionAiming to be a business trusted by customers, by providing

OperatingGoal

Growing from a simple home equipment manufacturer
to a “creator of home living space services”

Important
TargetIndices

Concentrating on sales of value-added products, increasing

attractive products and customer support

our brand strength as an exclusive manufacturer andimproving our earning rate (ordinary profit margin).

22

Ⅱ．Summary and Progress of Mid-Term Plan

2. Basic Strategy
Basic
Strategy

Construction of a life-cycle support system

Attacking the home renovation market by focusing our business structure on “customer relationships”

Production

Distribution【Cleanup】
Design

Sales
Proposals

Creating Attractive
Products

Product
Development

Home
renovation

Sales

Technical
Development【Customer Homes】

RelationshipStrengthening

Providing Safe,
Reliable Services

Construction

MaintenanceCentering On
Showrooms

23

Ⅱ．Summary and Progress of Mid-Term Plan

3. Market Trends (Home Renovation Market Expansion)(Unit: 10,000)

Rise in Housing Stock

Trend in total number of homes and households(Nationwide, 1958 - 2003)

5,387
4,722

Total number of homes
Total number of households●No. of stock: 7.2% increase over 10 years●Empty homes:12.2% (0.7pt increase over 5 years)●Homes older than 24 years: 37.5%

Baby Boomer Retirement
Approx. 7 million retirees in the 4 years from 2007

1958 1963 1968 1973 1978 1983 1988 1993 1998 2003

Distribution by Home AgeLess than 15 years: 37.9%

Expected to spur expansion
in the home renovation market

Older than 24 years (Before
introduction of new earthquakeearthquakeresistance standards): 37.5%

Greater than 15 years but less than 23
years: 24.6%*Source: Ministry of Internal Affairs and Communications’ “2005Home and Land Statistical Survey.”24

Ⅱ．Summary and Progress of Mid-Term Plan

4. Business Strategy①Focus on main business②Establish and expand a service andsupport system③Improve overall strength by strengthening
the group’s operational base
④Commercialize services⑤Establish a strategic information
system to support the business strategy
25

Ⅱ．Summary and Progress of Mid-Term Plan

5. Business Strategy ① Focus on Main Business – 1/3

Adding further value to core products in themain business, such as System kitchens, Systembathrooms, etc.
Super Silent e-Sink【System Kitchen-Related】●Began sales of diffused price-range system
kitchens, with standard use of Silent Sinks andincreased functionality such as sliding-type
storage (from March 1, 2005)

S.S. S.S.-3 Series●Began sales of the “CLEANLADY” and the“S.S.”, equipped with an industry-first, the“Super Silent e-sink” (from April 1, 2005)
CLEANLADY Stage 3

26

Ⅱ．Summary and Progress of Mid-Term Plan

5. Business Strategy ① Focus on Main Business – 2/3
DVD: “Building A Kitchen You Won’t Regret: The Super Silent Kitchen”●Easy-to-understand and attractive ideas, fromhome renovation examples to concrete comparison
studies (5.1ch home theater)・Before/after kitchen renovation comparison・Comparison with former products
・Actual use comparisons (comparing stains, etc.)
・Product introductions
・Visiting users, etc.
●Audio-visual effects aimed at showroom visitorsfrom early October→Will also provide to distributors, contractors andend-users as a more effective sales promotion
strategy27

Ⅱ．Summary and Progress of Mid-Term Plan

5. Business Strategy ① Focus on Main Business – 3/3【System Bathroom-Related】“L-Bath” 1-tsubo type (1616 model)●Begin sales of the “L-Bath” (from July 1, 2005).
New system bathroom series, with a focus on “warming
the entire bathroom” (heat retention) and “cleaning theentire bathroom” (sanitization)（Product strengthening in diffused zones)●Minor changes to the “AQULIA Bath” without a change
in price. (From September 10, 2005)①Use the “Pika ･Pita Floor‘s” hygienic, man-madeacrylic marble as the standard specifications.
(patent/registration pending)② “Warming the entire bathroom”(Differentiating between intermediateclass and luxurious)
Enlarged illustration of floor→→→→●More slip-resistant than previous
products●Excellent drainage and resistant
to stains, such as scales.

“AQUALIA Bath” MC-S1616

28

Ⅱ．Summary and Progress of Mid-Term Plan

6. Business Strategy ② Service And Support System - 1/3
Promoting increased functionality, the showroom will be positioned as the centerfor customer support, from advice and planning to construction and maintenance.
●Relocation and opening of the Fukuoka
Showroom●Renewal opening of the “Aizu Showroom”(Both on September 10, 2005)■Nationwide Showrooms

Hokkaido
4 locations

National total: 104 showrooms(as of September 30, 2005)
Tohoku15 locations

Hokuriku
Chugoku･Shikoku▲Fukuoka Showroom▲Aizu Showroom

6 locations

16 locations
Kyushu･Okinawa
12 locations

Kanto

4 new showrooms, 4 relocations
and 1 renewal
planned for the latter half of this period.

27 locations

Chubu
12 locations

Kinki
12 locations

29

Ⅱ．Summary and Progress of Mid-Term Plan

6. Business Strategy ② Service And Support System - 2/3

Toward a more functional showroom●Improved proposal abilities bycombining with a “Training Center”●Creation of “Multi-Purpose Areas”●Establishment of “corners” using
local features
・Condominium renovation proposal corner
・Builder proposal corner・“Super Silent e-Sink” demonstration corner
・Solution corner (for renovations, etc.)
・Kids’ corner, etc.

▲Shinjuku Showroom●Speedy proposals through the design system “PLAN-KAN”(On-site creation of perspective drawings, floor plans and estimates)30

Ⅱ．Summary and Progress of Mid-Term Plan

6. Business Strategy ② Service And Support System - 3/3

Advancing a new sales system while keeping an eye on the
expansion of the home renovation market●Investigation of channel expansion
Previous
Channels＋

Home
Builders

Housing
Constructors

GeneralContractors

Developers●Alliances with local, influential renovation shops
Home Renovation Fairs
Home Renovation Seminars

1,593 (as of the 1st half of 2005))
625 ( 〃31

Ⅱ．Summary and Progress of Mid-Term Plan

7. Business Strategy ③ Improve Overall Strength - 1/3
Promoting “Improved Production Efficiency” and “Aggressive Production System”
by Tuning-Up and Concentrating Manufacturing Subsidiaries’ Production Systems＜Past West-Japan Production Locations＞

Kitchen Product Production
Cleanup Kyushu Industrial Co., Ltd.
Oita Factory

Bathroom Product Production

Cleanup Okayama Industrial Co., Ltd. Okayama Factory●Dissolution of Cleanup Kyushu Industrial Co., Ltd. is planned for December 31, 2005
●Cleanup Okayama Industrial Co., Ltd. was reconstructed as the Tsuyama Factory,
an exclusive System Bathroom factory.

＜Future Production＞

Kitchen Product Production

Bathroom Product Production

Cleanup Okayama Industrial Co., Ltd.

Cleanup Okayama Industrial Co., Ltd.
Tsuyama Factory

Okayama Factory(Began full-scale operations on 10/3)

32

Ⅱ．Summary and Progress of Mid-Term Plan

7. Business Strategy ③ Improve Overall Strength - 2/3

Tsuyama Factory Outline●A new factory controlled byconsolidated subsidiary Cleanup
Okayama Industrial Co., Ltd.
●Exclusive System Bathroom factory→Preparing a production location for
expanded sales of System Bathroomsin the West Japan area

●Accessible from Okayama Factory by
car in approx. 10 minutes●Plans to ship from Kinki region toWest Japan

Address: 558-3 Kanai, Tsuyama City, Okayama Prefecture 708-0855
Land area: 28,270m2
Factory area: 3,478m2
Office building: 1,069m2 (two-story)
Structure: One-story steel frame
Products: System Bathroom “AQULIA”, 500 sets/month
System Bathroom “L-Bath”, 300 sets/month
Employees: 21
Total capital: 304 million yen

33

Ⅱ．Summary and Progress of Mid-Term Plan

7. Business Strategy ③ Improve Overall Strength - 3/3
Reconsidering the construction service system by consolidating
subsidiaries responsible for construction and after-service＜Previous construction /after-service subsidiaries’ organization＞

Cleanup Techno Service
Co., Ltd.

Cleanup Techno Service
West Japan Co. Ltd.

（Responsible for East Japan）（Responsible for West Japan）

Consolidation on November 1, 2005
●Cleanup Techno Service Co., Ltd. will merge and absorb Cleanup Techno Service WestJapan Co. Ltd.
●①Increasing effectiveness and ② ensuring service quality, uniformly and nation-wide,by unifying headquarters’ functions, area reorganization, etc.
34

Ⅱ．Summary and Progress of Mid-Term Plan

8. Business Strategy ④ Commercializing Services
Began initial visitation services for the System Kitchen “S.S.” from April●Direct responses to customer maintenance and repair requests●Program for concluding fee-based maintenance contracts●Parts sales in showrooms (21 locations at end of Oct.)＜Fee-based Maintenance Contracts: Number of Successful Contracts by Month＞(Contracts)

100
80
60
40
20
0

A pr il

Ma y

J une

Jul y

Au gu stS ep te mb er

35

Ⅱ．Summary and Progress of Mid-Term Plan

9. Business Strategy ⑤ Strategic Information System
Constructing a strategic system, from making need evident to closing the deal

After further discussion, the final planis decided and the order is placed

A unique plan for each residence
can be designed at the showroom,
based on a basic plan

CAD System

Sales Support
SystemUnified system, from
customer forecasts tocustomer management

Web site

PLAN-CAN
VirtualShowroom
Making clear the need for our products andattracting customers to our showroom
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Ⅱ．Summary and Progress of Mid-Term Plan

10. Important Second-Half Topics and Major Plans【Product Strategy】●Increase awareness of “e-Sink” products●Strengthening “CLEANLADY” products【Showroom Strategy】●4 new planned locations (Yokote, Takaoka, Toyota, Mizusawa)●Strengthening the appeal of current locations through aggressive
relocations and renovations→Relocations (Nagano, Atsugi, Fukuyama, Joetsu)→Renovations (Yokkaichi)【Home renovation Strategy】●1,340 home renovation fairs 625 home renovation seminars●Increased ability to respond to demands for both scattered regional
styles and concentrated metropolitan styles
37For any questions concerning investor relations,please contact:

Cleanup Corporation
Public Relations Department
Tel 03-3810-8241
Fax 03-3893-9577
URL http://cleanup.jp/english/index.html

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Disclaimer
This material is intended to provide information regarding FY2006
Interim Results (April 2005 ～September 2005) and does notconstitute a solicitation to invest in Cleanup Co., Ltd.-issued securities.
Furthermore, this material was created based upon data current as ofNovember 15, 2005. Opinions and forecasts contained within thismaterial were the subjective judgments of Cleanup Co., Ltd. at the timeof creation. No guarantee or promise is made as to the accuracy orcompleteness of this information. Additionally, this information is subject
to change without prior notice.

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