SUMMARY OF CONSOLIDATED FINANCIAL STATEMENTS
Results for the first quarter ended June 30, 2010
(April 1, 2010 - June 30, 2010)

July 30, 2010

MITSUBISHI GAS CHEMICAL COMPANY, INC.
Listed exchanges:

First section of the Tokyo Stock Exchange

Stock Code:

4182

URL:

http://www.mgc.co.jp

President:

Kazuo Sakai

Inquiries:

Motoyasu Kitagawa
General Manager, Corporate Communications Division
Tel: +81 3 3283-5041
August 6, 2010

Planned date of filing of the quarterly financial report:
Scheduled date of payment of dividend:－

1. Summary of Consolidated Results for the First Quarter of the Fiscal Year Ending March 31, 2011

(Three-month period April 1, 2010 - June 30, 2010)
1) Operating results
Millions of yen, rounded down
Percentage figures denote change compared to equivalent period of previous year

April 1 - June 30, 2010

April 1 - June 30, 2009

Change %Sales............................................................................
Operating income (loss)...............................................
Ordinary income (loss).................................................
Net income (loss) .........................................................
Net income (loss) per share (¥)....................................
Fully diluted net income (loss) per share (¥) ................

110,871
6,274
8,395
3,870
8.56
8.37

30.0
-

Change %85,294(2,088)(3,277)(2,386)(5.28)-(36.3)-

2) Financial position
Millions of yen, rounded down

As of June 30, 2010
Total assets .................................................................
Net assets ....................................................................
Shareholders’ equity ratio (%)......................................
Net assets per share (¥) ..............................................

As of March 31, 2010

556,668
276,89148.1
592.17539,431
278,09449.9
595.56(Note) Shareholders’ equity as of June 30, 2010: ¥267,677 million; as of March 31, 2010: ¥269,213 million

2. Cash Dividends
April 1, 2010 - March 31, 2011
Interim dividend per share (¥) ......................................
Year-end dividend per share (¥) ..................................
Annual dividend per share (¥) ......................................

April 1, 2009 - March 31, 2010

4.00 (Forecast)
4.00 (Forecast)
8.00 (Forecast)

4.00
4.00
8.00

(Note) Revision of cash dividend forecast during this period: None

3. Consolidated Forecasts for the Fiscal Year Ending March 31, 2011 (April 1, 2010 to March 31, 2011)
Millions of yen, rounded down
Percentage figures denote change compared to equivalent period of previous year

April 1 - September 30, 2010

April 1, 2010 - March 31, 2011

Change %Sales............................................................................
Operating income (loss)...............................................
Ordinary income (loss).................................................
Net Income (loss).........................................................
Net income (loss) per share (¥)....................................

230,000
10,00013,0007,000
15.49(Note) Revision of consolidated forecasts during this period: Yes

1

27.2
-

Change %460,000
20,00027,00017,000
37.61

19.6
388.9
266.6
191.7

4. Other Information(Note: Details are available in page 6, 2.Other matters)

1) Transfer of important subsidiaries during the period under review: None
(Transfers of certain subsidiaries resulting in changes in the scope of consolidation)2) Adoption of simplified accounting methods: Yes
3) Changes in accounting methods, procedures and presentation in the preparation of these financial statements:
1. Changes following revisions to accounting standards: Yes
2. Other changes: None4)

Number of shares outstanding (ordinary shares)June 30, 2010
Number of shares outstanding at end of period(including treasury shares) ....................................... 483,478,398
Number of treasury shares at end of period .................. 31,446,342
April 1 - June 30, 2010
Average shares outstanding during period ...................... 452,030,904

March 31, 2010
483,478,398
31,446,964
April 1 - June 30, 2009
452,051,984(NOTE)
1. These quarterly financial results are not subject to quarterly review procedures. At this time of disclosure of these financial results, the quarterly
financial statement review procedures based on the Financial Instrument and Exchange Law have not been completed.
2. Forecasts, etc., recorded in this document contain forward-looking statements that are based on management’s estimates, assumptions andprojections at the time of publication. A number of factors could cause actual results to differ materially from expectations.

21. Consolidated business results for this period
Note: All comparisons are with the first quarter of the previous fiscal year, unless stated otherwise.

(1)Consolidated operating results
Overview of results
Revenue and earnings for the Mitsubishi Gas Chemical Company, Inc. group of companies (“MGC Group”)
improved significantly for the first quarter (April 1, 2010 to June 30, 2010) of the fiscal year ending March 31,
2011. Consolidated net sales increased 30.0%, or ¥25.5 billion, to ¥110.8 billion. Consolidated operating
income of ¥6.2 billion was recorded, compared with an operating loss of ¥2.0 billion in the first quarter of theprevious year. Equity in earnings of affiliates increased 653.4%, or ¥3.1 billion to ¥3.6 billion. Consolidated
ordinary income of ¥8.3 billion was recorded, compared with ordinary loss of ¥3.2 billion in the first quarter ofthe previous year. Consolidated net income of ¥3.8 billion was recorded, compared with net loss of ¥2.3 billion
for the first quarter of the previous year.
Sales and operating income improved on the first quarter of the previous year, due to firm performance byspecialty chemicals and information and advanced materials products for semiconductors and LCD
applications, as well as an improvement in margins stemming and an overall recovery in sales volumes forchemicals. Income from overseas methanol producing companies accounted for by the equity method
increased due to rising prices in the market, resulting in an increase in ordinary income compared with the firstquarter of the previous year.
An extraordinary loss of ¥2.2 billion was recorded due to the application of the Accounting Standard for Asset
Retirement Obligations.

Results by business segment
Natural Gas Chemicals Company
In the methanol business, revenue increased due to an increase in sales volumes resulting from theoperation of new plants and an increase in average sales prices following recovery in the market from the latter
half of 2009.
Results from methanol and ammonia derivatives strengthened due to firm overall sales volumes and an
improvement in profitability of MMA and polyol.
In enzymes and coenzymes, earnings from coenzyme Q10 improved slightly but continued to trend at a low
level.
In the sale of natural gas and other energy, results improved due to an increase in the sales price of crude oil.
Consolidated net sales in the Natural Gas Chemicals Company were ¥31.3 billion, and an operating loss of¥0.8 billion was recorded.

Due to improvement of overseas methanol producing companies, equity inearnings of affiliates of ¥2.4 billion was recorded, resulting in consolidated ordinary income of ¥1.2 billion.

Aromatic Chemicals Company
In specialty aromatic chemical products, revenue and earnings improved due to an increase in sales volumes3

of products such as meta-xylenediamine, Nylon-MXD6, and aromatic aldehydes.
The purified isophthalic acid business recorded higher sales due to an increase in sales volumes resulting
from growing demand for PET bottle applications, but earnings trended at a low level due to continued intensecompetition against a background of excess supply.
Consolidated net sales in the Aromatic Chemicals Company were ¥27.5 billion. An operating loss of ¥0.1
billion and ordinary loss of ¥0.4 billion were recorded.

Specialty Chemicals Company
Revenue and earnings from inorganic chemicals increased due to higher sales volumes for hydrogen
peroxide. Revenue and earnings for the electronic chemicals increased due to an increase in sales volumes,
which was driven by firm demand, mainly for semiconductor applications.
In the engineering plastics business, revenue and earnings increased due to higher sales volumes ofpolycarbonate and polyacetal supported by healthy levels of demand in the Asia market. Polycarbonate sheets
and films recorded higher revenue and earnings as the firm demand for film for flat panel display applications
continued from the previous year.
Consolidated net sales in the Specialty Chemicals Company were ¥34.1 billion, and operating income of ¥4.3
billion was recorded. Ordinary income was ¥4.6 billion, due to equity in earnings of affiliates of ¥0.5 billion.

Information & Advanced Materials Company
Revenue and earnings from materials for printed circuit boards increased due to higher sales volumes of BT
materials for semiconductor packaging, which were supported by healthy demand for high-end mobile phones
and consumer electronics. Sales of LE sheets, the entry sheets used in mechanical drilling of printed circuitboards, were weak due to intense competition overseas.
Sales of oxygen absorbers such as AGELESS® improved slightly, reflecting a recovery in demand in thedomestic food sector and an increase in exports.
Consolidated net sales in the Information & Advanced Materials Company were ¥17.5 billion. Operating
income was ¥2.6 billion and ordinary income was ¥2.7 billion.

Other
Consolidated net sales in the Other business segment were ¥0.1 billion. Operating income was ¥0.1 billion,
and ordinary income was ¥0.4 billion.

(2) Consolidated financial position
Total consolidated assets as of June 30, 2010 were ¥556.6 billion, ¥17.2 billion higher than at the end of theprevious fiscal year. This was primarily because of increases in marketable securities and tangible fixed assets,
which offset a decline in total investments and other assets.
Liabilities increased ¥18.4 billion to ¥279.7 billion, mainly due to increases in notes and accounts payable,lease obligations and asset retirement obligations. Net assets decreased ¥1.2 billion to ¥276.8 billion, due to4

valuation losses on other investment securities.

(3) Consolidated forecasts for the fiscal year ending March 31, 2011
Polycarbonate sheets and film and materials for printed circuit boards are trending favorably, and theextraordinary loss recorded as a result of the application of the Accounting Standard for Asset Retirement
Obligations was lower than had been estimated at the start of the fiscal year. Consequently, the consolidated
and the non-consolidated forecasts for six-month period ending September 30, 2010 were revised. Along withthese revisions, we also revised the consolidated forecasts for the full year ending March 31, 2011.
Revisions to the consolidated forecasts for six-month period ending September 30, 2010 and full year ending
March 31, 2011 announced on May 7, 2010 are as follows.

Six-month period ending September 30, 2010 (April 1 – September 30, 2010)(Unit: ¥ million, %)Net sales

Operating

Ordinary

incomeincomeNet income

Net income pershare (¥)

Previously announced forecasts (A)220,000

6,000

10,000

4,000

8.85

Revised forecasts (B)230,000

10,00013,000

7,000

15.49

Change (B – A)

10,000

4,000

3,000

3,000

－

4.5

66.7

30.0

75.0

－

180,770(1,101)(2,592)(2,433)(5.38)(announced May 7, 2010)

Change (%)
Results for the same previous period(ended September 30, 2009)

Full year ending March 31, 2011 (April 1, 2010 － March 31, 2011)(Unit: ¥ million, %)Net sales

Operating

Ordinary

incomeincomeNet income

Net income pershare (¥)

Previously announced forecasts (A)450,000

16,00024,00014,00030.97

Revised forecasts (B)460,000

20,00027,00017,00037.61

Change (B – A)

10,000

4,000

3,000

3,000

－

2.2

25.0

12.5

21.4

－

384,528

4,090

7,365

5,827

12.89

(announced May 7, 2010)

Change (%)
Results for the same previous period(ended March 31, 2010)5

2. Other matters(1) Important changes to subsidiaries during the period (changes to specific subsidiary companies within
the scope of consolidation):
None(2) Adoption of simplified accounting methods and special accounting methods for presenting quarterly
consolidated financial statements:(i) Method of estimating doubtful accounts for general debtors
If the actual default rate at the end of the first quarter is recognized as not being materially different
from the rate calculated at the end of the previous fiscal year, a debt default provision is made using
the actual default rate at the end of the previous fiscal year.
(ii) Accounting standard for measurement of inventories
Assets held in inventory have been calculated primarily using the overall average of cost method
based on the assets held in inventory at the end of the previous fiscal year. In cases where theprofitability has declined, the book value is reduced accordingly.
(iii) Method of estimating corporate and other taxes, deferred tax assets and liabilities
For the estimation of corporate and other tax payments, changes and tax-deductible items in theattached financial statements are limited to material items. In assessing the recoverability of deferred
tax assets, the Company and its main consolidated subsidiaries employ the future earnings forecasts
and tax planning assumptions of the financial statements for the previous fiscal year having deemedthat there has been no marked change in the operating environment, etc., since the end of theprevious year, and that there has been no marked change with respect to the occurrence of one-timeor other such items.
(iv) Method of estimating depreciation expenses for fixed assets
For fixed assets depreciated using the fixed-percentage method, the Company and its main
consolidated subsidiaries adopt a method of assigning to the period under review an estimatedproportional amount of depreciation expenses for the fiscal year.
(3) Changes in principles, procedures and methods of indication of accounting methods:(i) Application of Accounting Standard for Equity Method of Accounting for Investments and Practical
Solution on Unification of Accounting Policies Applied to Accounted for Using the Equity Method
Beginning with the three-month period ended June 30, 2010, the Company applies AccountingStandard for Equity Method of Accounting for Investments (ASBJ Statement No. 16 issued March 10,2008) and Practical Solution on Unification of Accounting Policies Applied to Accounted for Using theEquity Method (PITF No. 24 issued March 10, 2008).
There is no impact on this change.
(ii) Application of Accounting Standard for Asset Retirement Obligations
Beginning with the three-month period ended June 30, 2010, the Company applies AccountingStandard for Asset Retirement Obligations (ASBJ Statement No. 18 issued March 31, 2008) and
Guidance on Accounting Standard for Asset Retirement Obligations (ASBJ Guidance No.21 issued
March 31, 2008).
As a result of this application, operating income decreased ¥18 million, ordinary income decreased¥19 million and net income before taxes decreased by ¥1,797 million.
The increase in asset retirement obligations as a result of the change in accounting standard was¥3,514 million.

6

3 Consolidated Financial Statements(1) Consolidated Balance Sheets
Millions of yen, rounded down
As of June 30, 2010

As of March 31, 2010ASSETS
Current assets

Less allowance for doubtful receivables............

25,630107,033
15,24334,726
8,566
18,752
15,218(697)

27,560104,086
10,01633,185
9,948
18,872
15,116(704)

Total current assets ..................................

224,474

218,082

Other, net ......................................................

51,862
68,71653,21349,683
67,25344,397

Total property, plant and equipment ..........

173,792

161,334

Other .............................................................

202
4,719

－
4,658

Total intangible assets .............................

4,922

4,658

Less allowance for doubtful receivables ........

128,869
25,133(523)

130,471
26,514(1,629)Cash .................................................................
Trade notes and accounts receivable................
Short-term investments .....................................
Merchandise and finished goods.......................
Work in progress ...............................................
Raw materials and supplies ..............................
Other current assets..........................................

Property, plant and equipment

Buildings and structures, net .........................
Machinery, equipment and vehicles, net .......

Intangible assets

Goodwill.........................................................

Investments and other assets

Investments in securities ...............................
Other .............................................................
Total investments and other assets............

153,478

155,356

Total fixed assets ...........................................

332,194

321,348

Total assets ..................................................

556,668

539,4317

Consolidated Balance Sheets (contd.)
Millions of yen, rounded down
As of June 30, 2010

As of March 31, 2010

LIABILITIESCurrent Liabilities

Other.................................................................

62,21773,893
1,609
2,075
4
26,31756,48674,004
2,421
3,649
－
23,734

Total current liabilities ..................................

166,117160,297

20,00074,565
6,290
3,526
9,276

20,00071,394
7,189
－
2,453

113,659
279,776

101,038
261,336

41,97035,590223,325(7,906)

41,97035,590222,394(7,905)292,980

292,048(2,762)(1,013)10
192(22,742)(1)
192(22,013)(25,303)
9,213
276,891
556,668(22,835)
8,881
278,094
539,431

Trade notes and accounts payable ...................
Short-term borrowings ......................................
Accrued income taxes.......................................
Allowance .........................................................
Asset retirement obligations..............................

Non-current liabilities

Corporate bonds ...............................................
Long-term borrowings .......................................
Allowance .........................................................
Asset retirement obligations..............................
Other.................................................................
Total non-current liabilities ...........................
Total liabilities ..............................................
NET ASSETSStockholders’ equity

Common stock ..................................................
Additional paid in capital ...................................
Retained earnings.............................................
Treasury stock, at cost......................................
Total stockholders’ equity
Valuation and translation adjustments

Unrealized gains (loss)
on other securities .........................................
Deferred gains on hedges.................................
Surplus on revaluation of land ...........................
Foreign currency translation adjustments..........
Total valuation and translation adjustments ......
Minority interests...............................................
Total net assets............................................
Total liabilities and net assets ..................

8

(2) Consolidated Statements of Income
Millions of yen, rounded down
April 1 - June 30, 2010

April 1 - June 30, 2009

Cost of sales ...........................................

110,871
90,58285,29474,724Gross profit ...............................................

20,28910,570

Selling, general and administrative
expenses ............................................

14,015

12,659Operating income (loss)..............................

6,274(2,088)Other .......................................................

31
552
3,681
569

59
529
488
529

Total non-operating income .................

4,834

1,606

Interest expense......................................
Personnel expenses for seconded
employees...............................................

593

594

357

411

Exchange losses .....................................
Other .......................................................

1,284
477

－
1,789

Total non-operating expenses .............

2,713

2,795

Ordinary income (loss)................................

8,395(3,277)

1,777

－

296

－

Impairment losses ...................................

205－

Total extraordinary losses....................

2,279

－

Net income (loss) before income taxes.......

6,115(3,277)

Income taxes, etc...............................................

1,969

(853)

Net income (loss) before minority
interests..............................................................

4,146

－

Minority interests in income (loss)...............

276

(37)

Net income (loss)........................................

3,870(2,386)

Net sales.....................................................

Non-operating income

Interest income........................................
Dividend income......................................
Equity in earnings of affiliates..................

Non-operating expenses

Extraordinary losses

Loss on adjustment for changes ofaccounting standard for asset
retirement obligations..............................
Expenditure on environmental
improvement measures...........................

9

(3) Consolidated Statements of Cash Flows
Millions of yen, rounded down
April 1 - June 30, 2010
April 1 - June 30, 2009
Cash flows from operating activities

Net income before income taxes.............................................
Depreciation and amortization.................................................
(Gain) loss on disposal of property and equipment .................
Amortization of goodwill ..........................................................
Impairment losses ...................................................................
Equity in earnings of affiliates..................................................
Increase (decrease) in allowance for doubtful receivables......
Increase (decrease) in reserve for retirement andseverance benefits ..............................................................
Interest income and dividend income......................................
Interest expenses....................................................................
(Gain) loss on change of equity in affiliates.............................
Loss on adjustment for changes of accounting standard for
asset retirement obligations ....................................................
Expenditure on environmental improvement measures ..........
(Increase) decrease in notes and accounts receivable ...........
(Increase) decrease in inventories ..........................................
Increase (decrease) in trade notes and accounts payable ......
Increase (decrease) in consumer tax, etc. ..............................
Increase (decrease) in reserve for bonuses to directors andauditors................................................................................
Other .......................................................................................
Sub-total ............................................................................
Interest and dividends received...............................................
Dividends received from equity method affiliates ....................
Interest paid ............................................................................
Income taxes paid ...................................................................
Net cash provided by operating activities........................

6,115
6,612
26
27
205
(3,681)(19)(3,277)
6,612
57
(7)
－
(488)
42

492

167

(584)
593
1

(588)
594
－

1,777

－

296
(1,763)
148
3,795
(386)

－
(5,656)
4,084
4,012
162

(186)
(2,968)10,504
584
893
(470)
(2,790)
8,722

(180)
(4,305)
1,227
596
291
(490)
115
1,741

(182)
3
(4,939)576(1,268)1775(5,716)(66)
190(8,848)
8
(847)
28
68
(9,466)

Cash flows from investing activities

Purchase of short-term investments........................................
Proceeds from sale of short-term investments .....................
Purchase of fixed assets .........................................................
Proceeds from sale of fixed assets..........................................
Purchase of investments in securities .....................................
Proceeds from sale of investments in securities...................
Other ....................................................................................
Net cash used in investing activities ...............................

10

Consolidated Statements of Cash Flows(contd.)
Millions of yen, rounded down
April 1 - June 30, 2010
April 1 - June 30, 2009
Cash flows from financing activities

Increase (decrease) in short-term borrowings.........................
Proceeds from long-term debt.................................................
Payments on long-term debt ...................................................
Purchase of treasury stock......................................................
Dividends paid to stockholders................................................
Dividends paid to minority stockholders of subsidiaries ..........
Other .......................................................................................
Net cash used in financing activities ..................................
Effect of exchange rate changes on cash and cash
equivalents ................................................................................
Increase (decrease) in cash and cash equivalents ...................
Cash and cash equivalents at the beginning of period ..............
Increase (decrease) in cash and cash equivalents due tochange in scope of consolidation ..............................................
Cash and cash equivalents at the end of period .......................

(4) Notes regarding going concerns
No applicable items.

11

(597)
2,833
(757)
0
(1,808)
(419)
(149)
(899)

(222)
550
(859)
(6)
(3,616)(79)(42)(4,277)

381

309

2,487
36,048(11,692)
53,065469－

39,006

41,372

(5) Segment information

1. Segment overview
Mitsubishi Gas Chemical employs an in-house company system, which was adopted to clarify the responsibilitiesof each business and improve efficiency. Each company conducts its business according to an independent
strategy formulated around its products and services. This structure makes it possible obtain separate financial
information for each segment, and in order to optimize the allocation of management resources and assessment of
performance by the Board of Directors, the four companies, the Natural Gas Chemicals Company, the Aromatic
Chemicals Company, the Specialty Chemicals Company and the Information & Advanced Materials Company, areused as segments for the presentation of financial information.
The Natural Gas Chemicals Company manufactures and sells products such as methanol, ammonia, ammonia
derivatives, MMA, polyhydric alcohol, enzymes, coenzymes, natural gas and crude oil.
The Aromatic Chemicals Company manufactures and sells xylene isomers and their derivatives.
The Specialty Chemicals Company manufactures and sells products such as hydrogen peroxide and otherinorganic chemicals for industrial use, chemicals for the electronics industry, and engineering plastics.
The Information & Advanced Materials Company manufactures and sells products such as materials for printed
circuit boards, printed circuit boards, and oxygen absorber such as AGELESS®.

2. Revenue and earnings by segment
Three-month period ended June 30, 2010 (April 1 – June 30, 2010)
Millions of yen, rounded down
Natural gas
chemicals

Aromatic
chemicals

Specialty
chemicals

Information
andadvancedmaterials

Sales to outside customers .......

31,37327,567

34,17817,573178－

Inter-segment sales ...................

1,013

292

1,193

166

31

(2,696)－

Total .................................

32,387

27,85935,371

17,740209(2,696)

110,871

Segment income (loss)[Ordinary income （loss）] ............

1,268

(428)

4,661

2,736

483

(326)

8,395

Other
(Note 1)

Adjustment(Note 2)

Consolidated(Note 3)110,871

Notes：
1. The ‘Other’ segment includes operations not included in the other segments, such as listed related companies and real estate business.
2. The adjustment amounts are as follows:
The ¥326 million segment loss adjustment consists of ¥54 million in inter-segment sales, and ¥272 million of overall costs not allocated tosegments.
Overall costs include SG&A expenses, financing expenses, and other expenses not allocated to segments.
3. Segment income (loss) is based on ordinary income as provided in the quarterly consolidated statement of income.

3．Depreciation loss, goodwill amortization, etc. of fixed assets of segments(Depreciation loss on fixed assets)
A depreciation loss of ¥205 million has been recorded for the Natural Gas Chemicals Company.
(Additional information)
Beginning with the three-month period ended June 30, 2010, the Company applies Accounting Standard forDisclosures about Segments of an Enterprise and Related information (ASBJ Statement No.17 issued March 27,2009) and Accounting Standard for Disclosures about Segments of an Enterprise and Related information (ASBJ
Guidance No.20 issued March 21, 2008).

12

(Reference)
When the new segment classification adopted from the first quarter of the fiscal year ending March 31, 2011 isapplied retroactively to the first quarter of the year ended March 31, 2010, revenue and earnings are calculated
as follows.
Three-month period ended June 30, 2009 (April 1 – June 30, 2009)
Millions of yen, rounded down
Natural gas
chemicals

Aromatic
chemicals

Specialty
chemicals

Information
andadvancedmaterials

Sales to outside customers ......

24,674

21,76323,726

14,957

Inter-segment sales ..................

959

234

466

2

Total ................................

25,634

21,99824,193

Segment income (loss)[Ordinary income （loss）] .........

(3,818)(1,558)

697

Other

Adjustment

Consolidated

171－

85,29455(1,719)－14,960227(1,719)85,294

1,072

131

198

(3,277)(6) Notes on significant change in Stockholders’ equity
No applicable items(7) Other information(Additional information)
The Company resolved at a meeting of its Board of Directors in May 2010 to introduce an accumulative
retirement bonus system, according to which the compensation amounts for directors will be decided atGeneral Shareholders’ Meetings, and those for managing executive officers at meetings of the Board of
Directors. Compensation for current directors had previously been recorded as ‘Directors retirement benefits.’
As a result of the abovementioned resolution, however, compensation amounts decided at General
Shareholders’ Meetings and meetings of the Board of Directors will be recorded in ‘Long-term accounts
payable’ instead of ‘Directors retirement benefits.’ As of June 30 2010, ¥636 million in provision for suchcompensation has been recorded under ‘Other’ in ‘Non-current liabilities.’

13