Interim Consolidated Financial Statements for the Fiscal Year Ended March 31, 2003
Mitsubishi Gas Chemical Co., Inc.
Head office location:
Tokyo
Representative: Hideki Odaka, President
Contact:
Jin Hata, General Manager
Public & Investor Relations Division(03)-3283-5041

Stock exchange listings:
Code number:
URL:
Interim Board of Directors meeting:
American Accounting Standard:

November 19, 2002
Tokyo, Osaka, Nagoya
4182
http://www.mgc.co.jp/
November 19, 2002
Not applied

1. Interim Results for Fiscal 2002 (April 1, 2002 to September 30, 2002)(1)

Sales and Income

Ended Sep. 2002
Ended Sep. 2001
Ended Mar. 2002

Net sales(¥ million)
149,592
139,092
275,709
Net income(¥ million)

Year-on-yearchange (%)
7.6
-10.8
Year-on-yearchange (%)

Ended Sep. 2002
-1,008Ended Sep. 2001
1,096
-46.8
Ended Mar. 2002
-4,234
Notes:
1. Equity method investment profit or loss:

2. Average number of shares outstanding:Note: All amounts are rounded down to the nearest million yen.
Operating income
Year-on-year
Ordinary income
Year-on-year(¥ million)change (%)(¥ million)change (%)-151-972-3,839-365-6,786-3,775
Earnings pershare (¥)
-2.13
2.27
-8.79

Dilutedearnings pershare (¥)-

Six months ended September 2002:
Six months ended September 2001:
Year ended March 2002:
Six months ended September 2002:
Six months ended September 2001:
Year ended March 2002:¥1,270 million¥5,203 million¥6,603 million
474,172,622 shares
483,476,650 shares
481,821,996 shares

3. Changes in accounting methods:
No
4. Year-on-year changes for net sales, operating income, ordinary income, and net income are based on the previous interim period.

(2)

Financial Position

Total assetsShareholders’ equity
Shareholders’ equity ratio
Shareholders’ equity per(¥ million)(¥ million)(%)
share (¥)
Ended Sept. 2002
463,082
166,86036.0
355.02Ended Sept. 2001
467,237
180,34538.6
373.02Ended Mar. 2002
466,762
174,74237.4
367.69Notes: Number of shares outstanding at end of period:
Six months ended September 2002:
470,005,917 shares
Six months ended September 2001:
483,478,031 sharesYear ended March 2002:
475,247,107 shares(3)

Cash Flow

Ended Sep. 2002
Ended Sep. 2001
Ended Mar. 2002

(4)

Net cash provided byoperating activities(¥ million)
12,611
4,780
13,718Net cash used in investing
activities(¥ million)-13,933
2,148-15,396

Net cash used in financing
activities(¥ million)
572-8,211-2,596

Scope of Consolidation and Equity Method Application
Number of consolidated subsidiaries:
Number of unconsolidated subsidiaries accounted for by the equity method:
Number of affiliated companies accounted for by the equity method:(5)

Cash and cash equivalents at
end of period(¥ million)
28,21230,36428,18829
010

Changes in Scope of Consolidation and Equity Method Application
Consolidation(New) 3(Eliminated) 2

Equity method(New) 0(Eliminated) 0

2. Projected Results for Fiscal 2002 (April 1, 2002 to March 31, 2003)
Net sales
Ordinary income
Net income(¥ million)(¥ million)(¥ million)
Fiscal 2002
306,000
2,500
2,000
Reference: Estimated earnings per share for fiscal 2002:¥4.26
Operating income for fiscal 2002:¥2,300 million* The projected results are estimated by the company based on information currently available and, therefore, may be different from theactual results. For details of the above projected results, please refer to the consolidated financial statement shown on page 7.

Interim Unconsolidated Financial Statements for the Fiscal Year Ended March 31, 2003
November 19, 2002
Mitsubishi Gas Chemical Co., Inc.
Head office location:
Tokyo
Representative: Hideki Odaka, President
Contact:
Jin Hata, General Manager
Public & Investor Relations Division(03)-3283-5041

Stock exchange listings:
Code number:
URL:
Interim Board of Directors meeting:Interim dividend payment:Interim dividend system:
Unit stock system

Tokyo, Osaka, Nagoya4182
http://www.mgc.co.jp/
November 19, 2002
Yes
Yes (1,000 stocks)

1. Interim Results for Fiscal 2002 (April 1, 2002 to September 30, 2002)(1)

Sales and Income

Ended Sep. 2002
Ended Sep. 2001
Ended Mar. 2002

Net sales(¥ million)
102,929
99,228
193,840

Year-on-yearchange (%)
3.7
-11.4
-Net income(¥ million)-1,831-243-3,363

Ended Sep. 2002
Ended Sep. 2001
Ended Mar. 2002
Notes:
1. Average number of shares outstanding:Note: All amounts are rounded down to the nearest million yen.
Operating income
Year-on-year
Ordinary income
Year-on-year(¥ million)change (%)(¥ million)change (%)-1,246-2,591-2,430-1,601-4,112-2,678-

Year-on-year change(%)-Earnings per share
(¥)
-3.86
-0.50
-6.98

Six months ended September 2002:
Six months ended September 2001:
Year ended March 2002:

474,172,622 shares
483,476,650 shares
481,821,996 shares

2. Changes in accounting methods:
No
3. Year-on-year changes for net sales, operating income, ordinary income, and net income are based on the previous interim period.

(2)

Dividends

Ended Sep. 2002
Ended Sep. 2001
Ended Mar. 2002

(3)

Interim cash dividends Annual cash dividends
per share (¥)
per share (¥)
0.00
1.50
3.00

Financial Position
Total assets(¥ million)
309,225
319,086
318,573

Ended Sep. 2002
Ended Sep. 2001
Ended Mar. 2002
Notes:
1. Number of shares outstanding at end of period:

2. Number of own shares at end of period:

Shareholders’ equity(¥ million)
123,368
134,025
128,989

Shareholders’ equity ratio
(%)
39.9
42.0
40.5

Six months ended September 2002:
Six months ended September 2001:
Year ended March 2002:
Six months ended September 2002:
Six months ended September 2001:
Year ended March 2002:

Shareholders’ equity pershare (¥)
262.48277.21271.42470,005,917 shares
483,478,031 shares
475,247,107 shares
13,472,481 shares
367 shares
8,231,291 shares

2. Projected Results for Fiscal 2002 (April 1, 2002 to March 31, 2003)
Net sales
Ordinary income
Net income
Annual cash dividends per share (¥)(¥ million)(¥ million)(¥ million)
Year-end
Fiscal 2002
208,000
-500
300
3.00
3.00
Reference: Estimated earnings per share for fiscal 2002:¥0.64* The projected results are estimated by the company based on information currently available and, therefore, may be different from theactual results. For details of the above projected results, please refer to the consolidated financial statement shown on page 7.