Interim Consolidated Financial Statements for the Fiscal Year Ended March 31, 2007
Mitsubishi Gas Chemical Co., Inc.
Head office location:
Tokyo
Representative: Hideki Odaka, President
Contact:
Yasuhiro Sato, General Manager
Corporate Communications Division(03)-3283-5041

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

November 14, 2006
Tokyo, Osaka, Nagoya
4182
http://www.mgc.co.jp/
November 14, 2006
Not applied

1. Interim Results for Fiscal 2006 (April 1, 2006 to September 30, 2006)(1)

Sales and Income

Ended Sep. 2006
Ended Sep. 2005
Ended Mar. 2006

Ended Sep. 2006
Ended Sep. 2005

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 (%)

Net sales(¥ million)

Year-on-yearchange (%)

231,569

11.9

19,83826.5

29,41442.5

207,004
439,829

8.9

15,67738,97013.1

20,64250,41019.5

Net income(¥ million)

Year-on-yearchange (%)

Earnings per share(¥)

Diluted earnings
per share (¥)

22,078

48.8

47.76

47.70

26.3

32.09
70.98

-14,838
Ended Mar. 2006
32,944
Notes:1. Equity method investment profit or loss:

Six months ended September 2006:
Six months ended September 2005:
Year ended March 2006:
Six months ended September 2006:
Six months ended September 2005:
Year ended March 2006

2. Average number of shares outstanding:¥10,321 million¥6,360 million¥15,122 million
462,274,151 shares
462,387,502 shares
462,355,096 shares

3. Changes in accounting methods: Yes
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 assets(¥ million)

Shareholders’ equity(¥ million)

Shareholders’ equity ratio(%)

Shareholders’ equity pershare (¥)

589,668

275,206

45.2

576.63

518,495
222,96843.0
Ended Mar. 2006
564,483
251,20244.5
Notes: Number of shares outstanding at end of period: Six months ended September 2006:
Six months ended September 2005:
Year ended March 2006:

482.24543.12Ended Sep. 2006
Ended Sep. 2005

(3)

Cash Flow
Net cash provided byoperating activities(¥ million)

Ended Sep. 2006
Ended Sep. 2005
Ended Mar. 2006

(4)

Net cash used in investing
activities(¥ million)

Net cash used in financing
activities(¥ million)

Cash and cash equivalents atend of period(¥ million)

11,299(6,598)(6,644)39,602

5,461
36,055(5,915)(15,195)(3,074)(9,924)25,696
40,590

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)462,253,253 shares
462,360,937 shares
462,291,001 shares

30011

Changes in Scope of Consolidation and Equity Method Application
Consolidation
Equity method

(New)
(New)

00

(Eliminated)(Eliminated)00

2. Projected Results for Fiscal 2006 (April 1, 2006 to March 31, 2007)
Net sales(¥ million)
480,000

Ordinary income(¥ million)
56,000Fiscal 2006
Reference:
1. Estimated earnings per share for fiscal 2006:
2. Operating income for fiscal 2006:

Net income(¥ million)
41,000¥88.70¥39,000 million* The projected results are estimated by the company based on information currently available and, therefore, may be different from theactual results.

Interim Unconsolidated Financial Statements for the Fiscal Year Ended March 31, 2007
Mitsubishi Gas Chemical Co., Inc.
Head office location:
Tokyo
Representative: Hideki Odaka, President
Contact:
Yasuhiro Sato, General Manager
Corporate Communications Division(03)-3283-5041

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

November 14, 2006
Tokyo, Osaka, Nagoya
4182
http://www.mgc.co.jp/
November 14, 2006
December 7, 2006
Yes (1,000 stocks)

1. Interim Results for Fiscal 2006 (April 1, 2006 to September 30, 2006)(1)

Sales and Income
Net sales(¥ million)

Ended Sep. 2006
Ended Sep. 2005
Ended Mar. 2006

Ended Sep. 2006
Ended Sep. 2005

Year-on-yearchange (%)

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 (%)

169,837

11.8

9,734

7.6

13,23420.7

151,844326,523

11.0

9,043
22,212

32.4

10,96825,77746.5

Net income(¥ million)

Year-on-yearchange (%)

Earnings per share(¥)

10,087

27.3

21.82

7,923
14,73869.6

17.14
31.66Ended Mar. 2006
Notes:
1. Average number of shares outstanding:

Six months ended September 2006:
Six months ended September 2005:
Year ended March 2006

462,274,151 shares
462,387,502 shares
462,355,096 shares

3. Changes in accounting methods:
Yes
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

Ended Sep. 2006

Total assets(¥ million)

Shareholders’ equity(¥ million)

Shareholders’ equity ratio(%)

Shareholders’ equity pershare (¥)

382,547168,894

44.1

365.37

Ended Sep. 2005

345,133
150,53143.6
Ended Mar. 2006
379,102
165,082
43.5
Notes:
1. Number of shares outstanding at end of period: Six months ended September 2006:
462,253,253 shares
Six months ended September 2005:
462,360,937 sharesYear ended March 2006:
462,291,001 shares
2. Number of own shares at end of period:
Six months ended September 2006:
21,225,145 shares
Six months ended September 2005:
21,117,461 sharesYear ended March 2006:
21,187,397 shares

325.57356.88

2. Projected Results for Fiscal 2006 (April 1, 2006 to March 31, 2007)
Net sales(¥ million)
358,500

Fiscal 2006
Reference:
1. Estimated earnings per share for fiscal 2006:
2. Operating income for fiscal 2006:

Ordinary income(¥ million)
28,000Net income(¥ million)
21,500¥46.51¥20,000 million

3. Dividends
Ended Mar. 2006
Ended Mar. 2007 (Result)
Ended Mar. 2007 (Projection)

Interim
4.00
6.00-Cash dividends per share (¥)
Year-end
6.00
6.00

Annual10.00
12.00* The projected results are estimated by the company based on information currently available and, therefore, may be different from theactual results.