PRESS RELEASE

Mori Trust Holdings

Financial Report for the Fiscal Year Ended March 2006
〜 Revenue and ordinary income both set new record highs. Profit growth achieved for twelfth consecutive years.〜

May 29, 2006
The Mori Trust Group recently announced its consolidated business performance for the year
ended March 2006. The Group consists of 17 consolidated companies and four equity-method
affiliates, and includes Mori Trust Holdings Inc. (formerly Mori Trust Group Inc.), Mori Trust Co.,
Ltd., and Mori Kanko Trust Co., Ltd.

[Mori Trust Group Consolidated Financial Report] (April 1, 2005 – March 31, 2006)(Figures in millions of yen; figures less than one million yen rounded off; percentages in parentheses indicate year-over-yearchange)FY 2004

FY 2005

FY 2006(projected)

1 Revenue from operations

124,851

147,866（18.4%）

160,000（8.2%）

Lease-related income

57,84761,060（5.6%）

62,000（1.5%）

Hotel-related income

27,68930,503（10.2%）

35,000（14.7%）

Income from real estate sales

21,36043,270（102.6%）46,000（6.3%）

Other income

17,953

13,032（▲27.4%）17,000（30.4%）

2 Operating income

31,72939,358（24.0%）

43,000（9.3%）

3 Ordinary income

30,933

41,544（34.3%）

43,000（3.5%）

4 Net income

16,227

18,332（13.0%）

22,000（20.0%）(interior construction in leased spaces, etc.)○Consolidated Companies (17companies)
Mori Trust Holdings Inc., Mori Trust Co., Ltd., Mori Kanko Trust Co., Ltd., MT Facility Service Co.,
Ltd., Mampei Hotel, Yokohama Grand InterContinental Hotel Co., Ltd., MT&Hilton Hotel Co., Ltd.,
Foretseine Co., Ltd., Urban Life Co., Ltd., Nippon Intelligent-Building Systems Corporation,
MT Genex Corp., Mori Trust Asset Management Co., Ltd., Shiroyama Heating & Cooling Supply
Co., Ltd., Universal Express Co., Ltd., Toyo Housing Management Inc., Urban Life Jyutakuhanbai
Co., Ltd., MT Golf Management Co., Ltd.
○Equity-Method Affiliates (4 companies)
Parco Co., Ltd., MORI TRUST Sogo Reit, Inc., URBAN SERVICE Co., Ltd., Morikiyo Co., Ltd.
(As of March 31, 2006)< Next page: Overview of FY 2005 business performance >-1-

Overview of FY 2005 business performance○Operating revenues and ordinary income both increased. Operating revenues registered a record
high of ¥147.8 billion, an increase of 18.4% over the ¥124.8 billion stated the previous year.
Ordinary income increased for the twelfth consecutive year since fiscal 1994, growing 34.3% fromthe previous year to ¥41.5 billion, a record high.
○Looking at a breakdown of operating revenues, lease-related income increased 5.6% over theprevious fiscal year to ¥61 billion. In this fiscal year, in addition to the fact that the Tokyo
Shiodome Building was operational throughout the entire period, the office market in central
Tokyo underwent a significant recovery, leading to higher contributions to the lease-related
income due to decreases in vacancy rates and increases in rent levels centered on large-scaleclass-A buildings, which comprise the company’s key market.

○Hotel-related income increased by 10.2% from the previous fiscal year to 30.5 billion yen, withexisting hotel operations (Mori Kanko Trust, Mampei Hotel, Yokohama Grand InterContinental
Hotel) performing as expected and additional income contributed by the Conrad Tokyo, which
opened in July 2005.

○Real estate income increased by 102.6% from the previous fiscal year to 43.2 billion yen, due tothe sale of land owned by Mori Trust in Shirogane, Minato-ku, the sale of the Granforet Villa Gora
Club owned by Mori Kanko Trust, sales from the luxury Foretseine Meguro Tairamachi
condominiums sold by Foretseine Co., Ltd., revenues from Urban Life condominiums (which havebeen subject to consolidation of accounts beginning this fiscal year), and other contributions.

○Affected by both the lack of extraordinary factors such as completion of new office buildings aswell as the addition of trustee and other fees for Foretseine and Urban Life, other income was 13
billion yen. This figure reflects a decrease of 27.4% from the previous fiscal year, due to the factthat the previous fiscal year included a major one-time increase in revenues from construction forfinishing office spaces for lease in connection with the completion of the Tokyo Shiodome Building.

○Increased operating income from higher sales was a major factor in increased ordinary income;this, along with contributions from investment operations, such as increased returns on
investment under the equity method and gains on investment in startup ventures, led to an
ordinary income of 41.5 billion yen, an increase of 34.3% from the previous fiscal year.

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Business performance projections for FY 2006

○The Company forecasts operating revenues for the year ending March 2007 at approximately ¥160
billion, which would constitute an increase of approximately ¥12.1 billion.
○With regard to lease-related income included in sales, although developments such as the sale of
the Akasakamitsuke MT Building and the rebuilding of the Hitachi Head Office Building areplanned as parts of a strategy for restructuring the property portfolio, strong performance in theoffice market has led to projections of increased revenues from existing properties as well, leading
to projections for a small increase to 62 billion yen for this fiscal year.

○Hotel-related income is projected to increase by approximately 4.5 billion yen, to 35 billion yen, due
to the fact that the Conrad Tokyo, which opened July 1, 2005, will be operational throughout theentire fiscal year.

○Due to factors including income from the sale of the Akasakamitsuke MT Building, in addition to
condominium sales income from condominium subsidiaries Foretseine and Urban Life, real estate
income is projected to rise by approximately 2.7 billion yen, to 46 billion yen.

○Other income is projected to rise by approximately 3.9 billion yen, to 17 billion yen, due to the lackof special factors such as the completion of new buildings and to contributions from sales of OHNOKOGYO Co., Ltd., which handles the real-estate leasing business, and its subsidiary AZMAX CORP.
which handles the manufacture and sale of steel materials — accounts for both of which companies
Mori Trust consolidated in April 2006.

○Operating income, ordinary income, and net income are projected to increase alongside the increasein operating revenues as no special changes are forecast.

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FY 2006 business summary○In April 2005, Urban Life began sales for the 33-story Urban Life Midosuji Honmachi Tower high-rise,
earthquake-resistant condominiums in a choice location one minute by foot from Honmachi Stationon the Osaka subway’s Midosuji Line.
○In May 2005, Foretseine began construction on Foretseine Azabu Nagasaka, the planned thirdbuilding of the company’s Foretseine series of luxury condominiums.
These condominiums are planned for completion in September 2006.
○In June 2005, Mori Trust underwrote 5,980 new shares issued by Foretseine in connection with anincrease in capital, as part of its efforts to enhance its luxury condominium business. As a result, it
now holds 80.36% of Foretseine shares.
○In July 2005, the Conrad Tokyo opened as the East Asia flagship of the Conrad hotels — the Hilton
group’s most luxurious line of hotels. This hotel is managed by MT&Hilton Hotel.
○In July 2005, Mori Trust acquired certain trust beneficiary rights to the Akasaka Twin Tower(Akasaka, Minato-ku, Tokyo).
○In August 2005, Mori Kanko Trust acquired Laforet & Matsuo Golf Club (formerly the Matsuo Golf
Club) in Matsuo-machi in Sammu-shi, Chiba Prefecture and made the company managing this facility,
MT Golf Management Co., Ltd., a subsidiary.
○In November 2005, Mori Trust acquired the former site of the Tohoku Gakuin junior and senior highschools in the central district of the city of Sendai, Miyagi Prefecture (location: Ichiban-cho, Aoba-ku,
Sendai; site area: 16,651.77 square meters). It is currently proceeding with studies of plans fordevelopment of this site involving the creation of an attractive urban environment that will function
as a new Sendai landmark, including offices, commercial facilities, hotels, residential properties, andother facilities.
This site is currently managed by MT Genex Corp., a member of the Mori Trust group of companies,
as the Sendai Ichiban–cho MT Parking Lot.
○In December 2005, Mori Trust began construction on a plan for rebuilding the flagship hotel of theSunroute hotel chain, with the tentative name Hotel Sunroute Shinjuku (previously the Hotel
Sunroute Tokyo) in a joint project with the JTB Group’s JTB Estate Corp. (headquarters: Toshima-ku,
Tokyo; president: Norihito Shiga).
Plans call for the new hotel to open in the autumn of 2007.
○In January 2006, Mori Trust changed the names of Shiroyama Hills (Toranomon, Minato-ku, Tokyo)
and Gotenyama Hills (Kita-Shinagawa, Shinagawa-ku, Tokyo) to Shiroyama Garden and Gotenyama-4-Garden, respectively. It also changed the name of the Shiroyama JT Trust Tower to the Shiroyama
Trust Tower.
○In February 2006, construction began on the Marunouchi Trust Tower Main Building, the secondbuilding in the Marunouchi Trust Tower project under development on a site adjoining Tokyo Station.
A skyscraper complex including offices, hotels, and commercial facilities, this tower is planned toserve as a suitable face for the capital city of Tokyo, to support international business and sightseeing,
and to function as a base for international exchange, applying the Tokyo Metropolitan Government’s
provisions for special urban-redevelopment districts. Construction is planned for completion in
November 2008.
○In February 2006, Mori Trust reached agreement with Rakuten Baseball, Inc. (headquarters: Sendai,
Miyagi Prefecture; president: Toru Shimada) on becoming an official sponsor of the Tohoku Rakuten
Golden Eagles baseball club, for the purpose of contributing to the further vitalization of the Sendaiarea.
○In March 2006, construction and sales were both completed for Foretseine Meguro Tairamachi, thesecond building in the Foretseine series of luxury condominiums.
○In March 2006, Mori Trust reached agreement with THE ROYAL HOTEL, LIMITED (headquarters:
Kita-ku, Osaka-shi, Osaka; president: Takayuki Tsukuda), which manages the RIHGA Royal hotels
among other businesses, on concluding a basic agreement on a capital and business partnership.

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FY 2006 business summary○In April 2006, Mori Kanko Trust was split into Mori Kanko Shisankanri Co., Ltd., which holds theassets of the former Mori Kanko Trust, and the new Mori Kanko Trust Co., Ltd., which manages
hotels and golf courses. This was conducted as part of the Mori Trust Group’s efforts to strengthen its
hotel and resort business. Plans call for the merger of Mori Trust Co., Ltd. with Mori Kanko
Shisankanri Co., Ltd., with a target completion date of October 2006.
○In April 2006, Mori Trust established a new company, MT Labo Co., Ltd. (headquarters: Minato-ku,
Tokyo; chair: Akira Mori; capital: 300 million yen), to provide specialized financial know-how using
various analytical tools. This was conducted as part of the Mori Trust Group’s efforts to strengthen its
investment business.
○In April 2006, Mori Trust concluded a basic agreement on a capital and business partnership with
THE ROYAL HOTEL, LIMITED (headquarters: Kita-ku, Osaka-shi, Osaka; president: Takayuki
Tsukuda). Based on this agreement, plans call for Mori Trust to underwrite shares in THE ROYALHOTEL, LIMITED in a capital increase through third-party allocation of shares planned for July 7,
2006, making Mori Trust the largest stockholder in THE ROYAL HOTEL, LIMITED.
○In May 2006, Mori Trust acquired the Hitachi Head Office Building, which had been owned by Mori
Trust Sogo REIT, Inc. (headquarters: Minato-ku, Tokyo; representative: Masaki Murata). At the sametime, it transferred ownership of the Akasakamitsuke MT Building to Mori Trust Sogo REIT, Inc.
* Hitachi, Ltd. had transferred its headquarters functions from the Hitachi Head Office Building,owned by Mori Trust Sogo REIT, Inc.

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〈Reference〉
Overview of Properties○ Mori Trust Properties■ Conrad Tokyo
Location

Total Floor Area
Guest Rooms
Facilities

Opened1 Higashi-Shimbashi, Minato-ku, Tokyo
Tokyo Shiodome Building 28th – 37th floors;
Annex 1st, 2nd floors
Approx. 37,000 ㎡ （hotel portion）
290 rooms（including 68 suites）
Guest rooms (30th – 37th floors)
Restaurants (Modern French, Japanese, Chinese)
Bar and lounge, meeting rooms, lifestyle and cigar
shop (28th fl.)Spa and fitness room (29th fl.)Wedding chapel, banquet hall, beauty salon (Annex
1st, 2nd floors)
July 1, 2005

■ Akasaka Twin Tower Main and East
Location

2 Akasaka, Minato-ku, Tokyo

Lot Area

11,866.50 ㎡（Main Building & East）
98,033.02 ㎡（Main Building & East）

Total Floor Area

Main
Number of Floors
Uses
Building Completed

East

18 aboveground floors;
18 aboveground floors;
4 belowground floors
4 belowground floors
Offices, Retail stores, Parking lot
May 1983■ Old Tohoku-Gakuin Middle- and High-school Site
Location

1 Bancho, Aoba-ku, Sendai-shi, Miyagi

Lot Area

16,651.77 ㎡■ Hotel Sunroute Shinjuku (provisional)
Location
Number of Floors
Lot Area
Total Floor Area
Guest Rooms
Scheduled Opening

2 Yoyogi, Shibuya-ku, Tokyo
14 aboveground floors,
1 belowground floor
3,174.05 ㎡
21,240.32 ㎡
624 rooms（480 singles; 144 twins）
Fall 2007■ Shiroyama Garden
Location
Lot Area
Total Floor Area
Uses
Building Completed

4 Toranomon, Minato-ku, Tokyo
27,151.08 ㎡
127,252.96 ㎡
Offices, Residences, Retail stores, Parking lot
December 1991

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■ Gotenyama Garden
Location
Lot Area
Total Floor Area
Uses
Building Completed

4 Kita-Shinagawa, Shinagawa-ku, Tokyo
31,061.24 ㎡
118,425.22 ㎡
Offices, Residences, Hotel, Retail stores, Parking lot
July 1990■ Marunouchi Trust Tower North and Main
Location

1 Marunouchi, Chiyoda-ku, Tokyo

Lot Area

12,026.77 ㎡（Main Building & North）
Approx. 181,000 ㎡（Main Building & North）

Total Floor Area

Number of Floors
Total Floor Area
Uses

Building Completed

North

Main

19 aboveground floors;
3 belowground floors
Approx. 65,000 ㎡
Offices, Retail stores

37 aboveground floors;
4 belowground floors
Approx. 116,000 ㎡
Offices, Hotel, Retailstores,Tourist information
centerNovember 2008
(scheduled)

September 2003

■Hitachi Head Office Bldg.
Location
Lot Area
Total Floor Area
Number of Floors
Building Completed

4 Kanda-Surugadai, Chiyoda-ku, Tokyo
9,540.58 ㎡
57,254.61 ㎡
20 aboveground floors; 3 belowground floors
March 1983

■ Akasakamitsuke MT Bldg.
Location
Lot Area
Total Floor Area
Number of Floors
Building Completed

1 Motoakasaka, Minato-ku, Tokyo
2,194.38 ㎡
17,171.15 ㎡
12 aboveground floors; 2 belowground floors
February 1975

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○ Mori Kanko Trust Properties■ Laforet & Matsuo Golf Club
Location
Lot Area
CourseFacilities

Hatta Matsuo-machi, Sanmu-shi, Chiba
655,419.18 ㎡
18 holes, Par 72, 6,716 yards
Restaurant, Competition rooms, VIP rooms, Locker
rooms, Bathrooms○ Foretseine Properties■ Foretseine Meguro Tairamachi
Location
Number of Floors
Total Floor Area
Units
Scheduled Completion

1 Tairamachi, Meguro-ku, Tokyo
3 aboveground floors;
1 belowground floor
6,167.32 ㎡
30 units
March 2006

■ Foretseine Azabu Nagasaka
Location
Number of Floors
Total Floor Area
Units
Scheduled Completion

Azabu Nagasaka-cho, Minato-ku, Tokyo
5 aboveground floors;
1 belowground floor
2,969.93 ㎡
13 units
September 2006

○ Urban Life Properties■ Urban Life Midosuji Honmachi Tower
Location
Number of Floors
Structure
Total Floor Area
Units
Scheduled Completion

3 Minami Honmachi, Chuo-ku, Osaka-shi, Osaka
33 aboveground floors
Seismic isolation structure
12,266.87 ㎡
115 units
March 2007

○ MT Genex Properties■ Sendai Ichibancho MT Parking Lot
Location
Lot Area
Number of Parking
SpacesOpened1 Ichiban-cho, Aoba-ku, Sendai-shi, Miyagi
16,645 ㎡
673 (including spaces for buses)
March 2006

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Mori Trust Group: Total floor area leased or managed■ Leased or managed facilities (as of March 2006)○Leased buildings:

Approx. 1,330,000 ㎡ (55 buildings)○Hotels:

16 hotels (Approx. 3,025 guest rooms)(Laforet Clubs in 13 locations, Mampei Hotel, Yokohama GrandInterContinental Hotel, Conrad Tokyo)
Total floor area

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Approx. 1,610,000 ㎡

Mori Trust Group: summary of consolidated companies
Mori Trust Holdings Inc.

Mori Trust Co., Ltd.

Location
Representatives
Established
CapitalBusiness sectors

Location
President
Established
CapitalBusiness sectors

Toranomon, Minato‑ku, Tokyo
Akira Mori, Aiko Negishi
August 1951
1 billion yen
・Shareholder in group companies

Toranomon, Minato‑ku, Tokyo
Akira Mori
June 1970
9 billion yen
・Urban development
・Property ownership, leasing

Mori Kanko Trust Co., Ltd.

MT Facility Service Co., Ltd.

Location
Chair
President
Established
CapitalBusiness sectors

Toranomon, Minato‑ku, Tokyo
Akira Mori
Hiroshi Shimamoto
February 1973
6 billion yen
・Development and operation of the Laforet Club
hotel system

Location
Chair
President
Established
CapitalBusiness sectors

Toranomon, Minato‑ku, Tokyo
Yasuharu Sato
Kazuyasu Abe
1894
Approx. 529.7 million yen
・Ownership and operation of the Mampei Hotel

Location
President
Established
CapitalBusiness sectors

Mampei Hotel
Location
Chair
General Manager
Established
CapitalBusiness sectors

Yokohama Grand InterContinental Hotel Co., Ltd.

MT&Hilton Hotel Co., Ltd.
Location
President
Established
CapitalBusiness sectors

Toranomon, Minato‑ku, Tokyo
Akira Mori
Satoshi Mori
April 2002
100 million yen
・Agents for building owners
・Property management, design, andsubcontracting
Minato Mirai, Nishi‑ku, Yokohama‑shi, Kanagawa
Nobuyuki Endo
May 1988
1.631 billion yen
・Operation ofInterContinental the Grand Yokohama

Foretseine Co., Ltd
Location
Toranomon, Minato‑ku, Tokyo
President
Nobuo Konomi
Established
August 2001
Capital
499 million yen
Business sectors ・Sale, planning and development of urban
residence

Toranomon, Minato‑ku, Tokyo
Kazuoki Sone
October 2004
20 million yen
・Operation of the Conrad Tokyo

Urban Life Co., Ltd.

Nippon Intelligent‑Building Systems Corporation

Location
President
Established
CapitalBusiness sectors

Minamisenba, Chuo‑ku, Osaka‑shi, Osaka
Takayuki Yamada
July 1970
3 billion yen
・Development, planning, and sales ofcondominiums, office buildings and stores

Locationchair
Established
CapitalBusiness sectors

Toranomon, Minato‑ku, Tokyo
Hirokazu Takahashi
October 1945
Approx. 1.072 billion yen
・ Manufacture and sale of exterior products, etc.

Location
President
Established
CapitalBusiness sectors

MT Genex Corp.
Location
President
Established
CapitalBusiness sectors

Toranomon, Minato‑ku, Tokyo
Akira Mori
May 1986
150 million yen
・Consulting in the fields ofoffice‑building management, property
management, and information technology
and telecommunications

Mori Trust Asset Management Co., Ltd.
Toranomon, Minato‑ku, Tokyo
Masaki Murata
February 2000
400 million yen
・Operation of real estate investment trusts

Shiroyama Heating & Cooling Supply Co., Ltd.

Universal Express Co., Ltd.

Location
President
Established
CapitalBusiness sectors

Location
President
Established
CapitalBusiness sectors

Toranomon, Minato‑ku, Tokyo
Akira Mori
November 1989
300 million yen
・Local heating and cooling services in the
Shiroyama Garden and surrounding district

Nihonbashihoncho, Chuo‑ku, Tokyo
Yoshinobu Ikeda
May 9, 1970
155 million yen
・Sales and planning for domestic
and overseas organized travel

Toyo Housing Management Inc.

Urban Life Jyutakuhanbai Co., Ltd.

Location
President
Established
CapitalBusiness sectors

Location
President
Established
CapitalBusiness sectors

Roppongi, Minato‑ku, Tokyo
Nobuo Konomi
November 1979
10 million yen
・Real‑
estate leasing management, property
management, and attendant operations

Minamisenba, Chuo‑ku, Osaka‑shi, Osaka
Seiichi Shimizu
July 1982
300 million yen
・Planning and sale of mid‑ and high‑rise
residential properties, real‑estate
sales and leasing brokerage services,
property management, etc.

MT Golf Management Co., Ltd.
Location
President
Established
CapitalBusiness sectors

Roppongi, Minato‑ku, Tokyo
Hiroshi Shimamoto
November 2004
100 million yen
・Ownership and management of Laforet &Matsuo Golf Club

Mori Trust Group: summary of equity-method affiliates
Parco Co., Ltd.

Mori Trust Sogo REIT, Inc.

Location
Minamiikebukuro, Toshima‑ku, Tokyo
EstablishedFebruary 1953
Business sectors ・Development, operation, consulting,and property management for shopping centers, etc.

Location
Toranomon, Minato‑ku, Tokyo
Established
October 2001
Business sectors ・Investment in real estate and asset‑
backedsecurities investing primarily in real estate

URBAN SERVICE Co., Ltd.

Morikiyo Co., Ltd.

Location
Minamisenba, Chuo‑ku, Osaka‑shi, Osaka
Established
April 1979
Business sectors ・General management of condominiums
and other buildings, etc.

Location
Roppongi, Minato‑ku, Tokyo
EstablishedMay 1955
Business sectors ・One of the holding companies (40%)
for Mori Building Co., Ltd.

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Consolidated Financial Statements
CONSOLIDATED BALANCE SHEET(As of March 31, 2006)
Mori Trust Holdings, Inc.
（¥ millions）
ASSETS
Account
Current Assets

LIABILITIESAmountAccount

Amount(111,871) Current Liabilities(255,049)

Cash and Time Deposits

32,396

Notes and accounts payable - trade

Notes and accounts receivable - trade

8,930

Short-Term Debt

101,400

Marketable Securities

7,386

Long-term debts payable within one year

116,246

Real Property For Sale

55,614

Accounts payable

3,148

Income Taxes Payable

12,288Other Inventories

886

6,260

Deferred Income Taxes

1,439

Expenses payable

1,226

Other Current Assets

5,399

Advances received

7,606

Allowance for Doubtful Accounts△181

Deposits received

5,784

Bonus reserves

311

Other Current Liabilities

775

Fixed Assets(700,479)

Tangible Fixed Assets
Buildings and Structures(578,723)
150,578

Long-Term Liabilities(437,634)

Machinery, Equipment and Materials Handling Equipment

1,217

Long-Term Debt

303,460

Tools and supplies

2,015

Deposits from Tenants

63,795420,065

Long-term deposits

61,621

Golf courses

3,244

Deferred Income Taxes

6,058

Construction in progress

1,602

Reserves for retirement benefits

2,659

Intangible Fixed Assets(11,810)

Other Long-Term Liabilities

37

Leasehold rights

5,978

Consolidation adjustment account

5,213

Land

Other Intangible Fixed Assets
Investments and Other Assets

Total Liabilities

692,683

Minority Interests

618(109,945) Minority

Interests

inConsolidated

Subsidiaries

7,820

Investment Securities

72,378Long-term Loans

10,535

Capital StockDeferred Income Taxes

3,786

Additional Paid-in Capital

Lease Deposits

21,205Retained Earnings

Other Investments and assets

3,028

Unrealized Gains/Losses on Securities

5,111

Allowance for Doubtful Accounts△989

Foreign Currency Translation Adjustment△1

Total Equity

111,848

812,351

Total Liabilities, Minority Interests and Shareholders'Equity812,351

Total Assets− 12 −

Equity1,000
22
105,716

Consolidated Financial Statements
CONSOLIDATED STATEMENT OF INCOME
April 1, 2005 - March 31, 2006

Mori Trust Holdings, Inc.
（¥ millions）
Account

AmountOrdinary income/loss
Operating income/loss
Revenue from Operations

147,866

Operating expenses

108,508

Cost of Revenue from Operations

98,141

Selling, General, and Administrative Expenses

10,366Gross Operating Profit

39,358Non-operating income/loss
Non-Operating Profit

7,373Interest Income

528

Securities revaluation gain

1,238

Equity in Net Income of Affiliated Companies

3,102

Other financial gains

1,562

Other Non-Operating Income

941

Non-Operating Expenses

5,187Interest Expenses

4,803

Other Non-Operating Expenses

384

Ordinary Income

41,544Extraordinary gain/loss
Extraordinary Gains

3,434

Gain on Sales of Fixed Assets

3,130

Other Extraordinary Gains

303

Extraordinary Losses

9,626

Loss on Disposal of Fixed Assets

730

Loss on impairment

7,625

Other Extraordinary Losses

1,270

Income before Income Taxes

35,351

Income Taxes

16,950

Deferred Income Taxes△362

Minority Interests

431

Net Income

18,332− 13 −