Consolidated Financial Summary Report
For the Third Quarter ended September 30 in Fiscal 2003
October 31, 2003
Company name: Coca-Cola West Japan Company, Limited
Code number: 2579
(URL http://www.ccwj.co.jp/)
Representative:
Title
Representative Director, President and CEO
Name
Norio Sueyoshi
Inquiries:
Manager in charge
Manager, Finance
Name
Tadanori, Taguchi

1.

Stock exchange listings: Tokyo, Osaka andFukuoka
Headquarters located in Fukuoka Prefecture

Phone: +81-92-641-8581

Principles for Preparation of Quarterly Statement of Income(1) Financial statements prepared in accordance with:changes in accounting principles:
accounts processing different from those of interim:(2) Changes in the scope of consolidation and applicationof the equity method:

Reporting Standard for Interim Financial Statements
nonenone
1 affiliate excluded from application of the equity method

2. Consolidated Financial Data for the Third Quarter Ended September 30, 2003
(1) Operating results(rounded down to the nearest million yen)
Net income
Net sales
Operating income
Recurring profit
Q3 ended Sep 30, 2003
(N.B.) fiscal 2002

million yen

million yen

million yen

million yen

180,716
247,737

14,92916,704

15,16417,005

8,283
7,086

Basic net income
per share
Q3 ended Sep 30, 2003
(N.B.) fiscal 2002

Diluted net income
per shareyenyen

102.50
85.49

84.69

Qualitative information on operating results
The consolidated operating results for the three quarters ended September 30, 2003, compared to the projection, is
as follows:(Rounded down to the nearest million yen)
Projection
ActualDifference
Difference ratio (%)
Net sales
187,500
180,716(6,783)(3.6)
Operating income
15,80014,929(870)(5.5)
Recurring profit
16,10015,164(935)(5.8)
Net income
8,400
8,283
(116)
(1.4)
Note: Amounts and figures stated in the above-listed box are based on the projection announced on June 17, 2003.
Net sales remained stagnant and finished at 180.7 billion yen for the nine months ended September 31, 2003, 3.6
percent lower than the target. This was largely due to the record chilly summer causing slow sales suffered in this year.
Variable costs of sales, which are incurred proportionally to the sales volume, stayed lower than the budget in line withthe depressed net sales. However, operating income and recurring profit were adversely affected and reached 14,929
million yen (5.5 percent lower than the target) and 15,164 million yen (5.8 percent lower) respectively over thenine-month period. On the other hand, extraordinary losses were lower than expected, as the measures taken against a
problem caused by an aroma chemical ingredient in May of this year were completed, and related expenses confirmed.
As a result, net income for the three quarters ended September 30, 2003 amounted to 8,283 million yen, 1.4 percent
below the target.
1(2)Changes in financial position
Total assets
at end of period

Q3 ended Sep 30, 2003
(N.B.) fiscal 2002

Shareholders’ equity

Shareholders’ equity
ratio

Shareholders’ equity
per share

million yen

million yen%yen

204,325
204,070

164,319
164,658

80.4
80.7

2,075.92
2,009.39

Cash flows
Net cash provided byoperating activities

Q3 ended Sep 30, 2003
(N.B.) fiscal 2002

Net cash used in investing
activities

Net cash used infinancing activities

Cash and cash equivalents
at end of period

million yen

million yen

million yen

million yen

13,382
20,885(15,177)(17,615)(11,103)(5,566)22,50735,406

Qualitative information on changes in financial position
Status changes in financial position
Cash flows in each category for the nine months ended September 30, 2003
Cash flows from operating activities
During the first to the third quarters ended September 30, 2003, while 4,270 million yen was paid out of thelump sum transfer funds, which had been expensed as an extraordinary loss in the previous year, less corporate
income tax was paid because the lump sum transfer had considerably reduced taxable income, as deferred income
tax had been saved in the previous year. As a result, operating activities provided net cash flow of 13,382 million
yen for the period under review.
Cash flows from investing activities
Investing activities used net cash of 15,177 million yen, mainly due to the acquisition of vending machines and otherfixed assets and the purchase of bonds and other securities for investment purposes.
Cash flows from financing activities
Investing activities used net cash of 11,103 million yen, including repurchase of the Company’s own andredemption of the convertible bonds shares as part of capital policy implementation.
Consequently, cash and cash equivalents decreased to 22,507 million yen on a consolidation basis as of September
30, 2003, 12,898 million yen down from December 31, 2002.
Reference 1. Non-consolidated financial data for the three quarters ended September 30, 2003
Net sales
Operating income
Recurring profit
for year to date period
million yen
million yen
million yen
ended on139,242
13,56814,024
Sep 30, 2003
Total assets
as ofSep 30, 2003

Shareholders’ equitymillion yen

million yen

183,345

159,7112

Net income
million yen

7,848

3.

Consolidated earning projections for the fiscal year ending December 31, 2003
Net sales
Fiscal 2003

(reference 2)

Recurring profit

Net income pershare

Net income

million yen

million yen

yenmillion yen

240,200

19,00019,30010,300130.12

Non-consolidated earning projections for the fiscal year ending December 31,2003
Operating
Net sales
Recurring profit
Net income
incomemillion yen

Fiscal 2003

Net sales

million yen

185,500

million yen

million yen

million yen

17,80018,30010,100

Annual cash
dividend pershareyen34.00

Qualitative information on earning projections
Projection status as of the end of the third quarter ended September 30, 2003 is already referred to in “Qualitative
information on operating results.” Compared to the projection, none of net sales, operating income, recurring profit andnet income reached the target set for the year to date period under review because of the record chilly summer in thisyear. Judging that it is difficult to make up for the shortfall during the remaining quarter, we revised downward theprojection for fiscal 2003 announced on June 17 as aforementioned. For information, comparison of the previous
projection announced on June 16 and the revision are shown below on a consolidation as well as non-consolidation
bases:Consolidation(rounded down to the nearest million yen)
Net sales

Operating income

Recurring profit

Net income

Previous projection (A)(announced on June 17, 2003)

249,000

19,70020,00010,500revision (B)240,200

19,00019,30010,300Difference (B)-(A)(8,800)

(700)

(700)

(200)

Difference ratio (%)

(3.5)

(3.6)

(3.5)

(1.9)

Non-consolidation(rounded down to the nearest million yen)
Net sales

Operating income

Recurring profit

Net income

Previous projection (A)(announced on June 17, 2003)

191,000

18,00018,50010,100

Revision (B)185,500

17,80018,30010,100Difference (B)-(A)(5,500)

(200)

(200)

-

Difference ratio (%)

(2.9)

(1.1)

(1.1)

-

* The projections are based upon information available on the announcement date of this report, and actual results
may differ significantly from the projection, for a wide range of possible reasons.
These materials comprise the Company's brief settlement of accounts and other financial reports translated fromJapanese into English for the convenience of readers outside Japan.

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