News Release: Funai Zaisan Consultants Company, Limited(8929 Mothers)
Date: November 6, 2007

Summary of Business Results for the Third Quarter of
FY 2007 (January 1 to December 31, 2007)(Consolidated)

Consolidated quarterly cash flow
Q1 2006
Q1 2007(previous)(applicable)(Jan. 1 to Sep.31, (Jan. 1 to Sep. 31,2006)2007)

Previousfiscal year
(Jan. 1 to Dec.
31, 2006)

Amount(thousand yen)Amount(thousand yen)Amount(thousand yen)

Income before income taxes
and minority interests

1,607,037

2,553,484

1,637,766

Accumulated depreciation

27,29828,779

41,367

Allowance for doubtful
accounts−1,136

3,819−1,063

106

4,675

−893

Account

Noteno.

I Cash flow fromoperating activities

Directors' retirement
allowances
Addition to reserve forcompensation for retired
directors
Income from interest anddividends

8,173

29,092

10,897−5,231−10,218−5,898Interest paid

92,153

104,335

116,380

Loss on issuance of corporate
bonds
Equity in earnings ofaffiliates

33,07926,52933,07957,705

241,195

87,046

Loss on sales of fixed assets
Loss on retirement of fixedassets
Income from sales ofinvestment of subsidiaries andaffiliates
Loss on sales of investment ofsubsidiaries and affiliates

438
1,882

10,743−174−448

19,44435,021

Income from sales ofinvestment securities
Loss on revaluation ofinvestments in securities
Distribution of loss for silent
partnerships, etc.
Increase in accounts
receivable−3,750−3,75018,956−52,139−175,898−168,126−141,131−178,828−105,606

3,469,420−3,247,105

2,144,024−454,161−173,491−372,548

Accounts payable−25,256−24,842

1,716

Entrusted deposits and bonds

340,440

15,14986,873Entrusted equity from silent
partnerships, etc.

162,963

183,293

142,029

Others−178,733−74,778−102,719

SubtotalInterest and dividends
received

4,957,991−675,414

3,585,891

5,231

42,6185,898Interest paid

−88,456−101,012−112,683

Corporate tax paid

−562,904−831,938−560,455

4,311,861−1,565,747

2,918,651

Payments for deposing oftime deposits−583,350−940,270−1,163,561

Proceeds from repayment oftime deposits

521,066

890,000

685,876

Payment for purchase of
tangible fixed assets−31,489−21,683−35,638

Real estate for sales
Increase in non-receivableaccounts

Cash flow from operating
activities
II Cash flow from investing
activities

Proceeds from sale oftangible fixed assets
Payment for acquisition of
investment securities andpaid-in capital
Proceeds from sale ofinvestment securities andpaid-in capital

2,747−400,146−331,350−433,500

14,250148,731

259,197

Payment for acquisition ofstocks of affiliates
Proceeds from sale of stocks
of affiliates
Acquisition of minority
interests
OthersCash flow from investing
activities−3,572,695−145,020−3,578,568

18,732

24,087−10,000−10,000−15,3215,911−44,842−4,058,955−390,934−4,296,951−80,000

216,667−90,000

III Cash flow fromfinancing activities
Increase in short-term
debt (decrease)
Proceeds from long-term debt

3,500,000

Repayment of long-term debt

−826,000−826,000−868,000

Proceeds from issuance ofcorporate bonds

966,920

973,470

966,920

Payment for redemption ofcorporate bonds
Proceeds from deposits
payable from silent
partnerships, etc.
Payments for distributing
deposits payable as
investments in silentpartnerships, etc.
Dividends paid

−802,500−890,000−952,500

2,650,000−65,515

2,898,100−51,420−52,860−157,236−65,515

Payments from minority
shareholders

48,000Cash flow from financing
activities

1,890,905

2,765,480

1,884,145

IV Increase in cash and cash
equivalents

2,143,811

808,799505,845

V Cash and cash equivalents
at beginning of term

3,957,976

4,463,821

3,957,976

VI Cash and cash equivalents
at end of term

6,101,787

5,272,620

4,463,821

48,000