Consolidated Financial Statements for the Fiscal Year Ended March 31, 1999
May 28, 1999
Stock exchange listings (section):
Code number:

Mitsubishi Gas Chemical Co., Inc.
Head office location: 2-5-2,
Marunouchi, Chiyoda-ku, Tokyo
Contact:
Hajime Fujita
General Manager
Accounting Division(03)-3283-5080

1st section of Tokyo, Osaka and Nagoya, New securities
4182

1. Results for Fiscal 1998 (April 1, 1998 to March 31, 1999)(1)

Sales and Income

Ended Mar. 1999
Ended Mar. 1998

Net sales(¥ million)
286,471
311,433

Year-on-yearchange (%)-8.0-5.7

Net income(¥ million)Year-on-yearchange (%)

Ended Mar. 1999
6,754
6.4
Ended Mar. 1998
6,346
-43.1
Notes: Equity method investment profit or loss:(2)

Total assets(¥ million)
475,834
479,466

Shareholders’ equity(¥ million)
172,057
167,478

Number of affiliated companies:①②

Ordinary
income on
total assets (%)
2.2
3.1

Ordinary
income to net
sales (%)
3.6
4.8

Shareholders’ equity ratio
(%)
36.2
34.9

Shareholders’ equity pershare (¥)
345.07335.88

Consolidation Scope and Equity Method Application
Number of consolidated subsidiaries:
Number of unconsolidated subsidiaries:(4)

Return on
Dilutedequity (%)
earnings per
share (¥)
13.55
13.51
4.0
12.73
12.69
3.8
Year ended March 1999: ¥3,096 million
Year ended March 1998: ¥3,349 million
Earnings per
share (¥)

Financial Position

Ended Mar. 1999
Ended Mar. 1998

(3)

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 (%)
7,622
-56.7
10,444-30.0
17,595-6.2
14,911-4.5

24 (Primary company: JAPAN CIRCUIT INDUSTRIAL CO., LTD., etc.)
26 (Equity method applied to one company: Primary company: Thai Polyacetal Co.,Ltd.)
48 (Equity method applied to 11 companies: Primary companies: JSP Corporation,
Japan Saudi Arabia Methanol Co., Ltd., MIZUSHIMA AROMA CO., LTD., AG.
INTERNATIONAL CHEMICAL CO., Ltd., Japan U-PiCA Company, Ltd., etc.)

Changes in Accounting Method, etc.
Changes in scope of consolidation and equity method application
Consolidation(New)
1: Ryowa Kosan Co., Ltd.
(Eliminated) 0
Equity method(New)
2: KOKUKA SANGYO CO., LTD. and PT. PEROKSIDA INDONESIA PRATAMA(Eliminated) 0
Change in accounting method: 0

2. Projected Results for Fiscal 1999 (April 1, 1999 to March 31, 2000)
Net sales
Ordinary income
Net income(¥ million)(¥ million)(¥ million)
Ended Mar. 2000
290,000
10,0005,500
Reference: Estimated earnings per share(Consolidated):¥11.03(Unconsolidated):¥6.02
Reference: The company’s (non-consolidated) results for the year ended March 1999 (April 1, 1998 to March 31, 1999)
Net sales
Year-on-year
Operating income
Year-on-year
Ordinary income
Year-on-year(¥ million)change (%)(¥ million)change (%)(¥ million)change (%)
207,414-7.2
1,320-82.8
3,949-60.6
Net income(¥ million)

Year-on-yearchange (%)

Earnings per share(¥)

Diluted earnings
per share (¥)

Total assets(¥ million)

1,209

-67.0

2.43

-353,888

Shareholders’equity(¥ million)
136,506

Financial Statements for the Fiscal Year Ended March 31, 1999
May 19, 1999
Stock exchange listings (section):
Code number:
Board of Directors meeting:General Meeting of Shareholders:Interim dividend system:
Consolidated accounting:

Mitsubishi Gas Chemical Co., Inc.
Head office location: 2-5-2,Marunouchi, Chiyoda-ku, Tokyo
Contact:
Hajime Fujita
General Manager
Accounting Division(03)-3283-5080

1st section of Tokyo, Osaka and Nagoya, New securities
4182
May 19, 1999
June 29, 1999
Yes
Yes

1. Results for Fiscal 1998 (April 1, 1998 to March 31, 1999)(1)

Sales and Income

Ended Mar. 1999
Ended Mar. 1998

Net sales(¥ million)
207,414
223,402

Year-on-yearchange (%)
-7.2
7.8

Net income(¥ million)

Year-on-yearchange (%)

Ended Mar. 1999
1,209
-67.0
Ended Mar. 1998
3,663
-39.2
Notes:
1. Average number of shares outstanding:
2. Changes in accounting methods:(2)

Earnings per
share (¥)

Dilutedearnings per
share (¥)
7.34

2.43
7.35

Return on
equity (%)
0.9
2.7

Ordinary
income on
total assets (%)
1.1
2.9

Ordinary
income to netsales (%)
1.9
4.5

Year ended March 1999: 498,622,398 sharesYear ended March 1998: 498,622,398 shares

NoDividends

Ended Mar. 1999
Ended Mar. 1998

(3)

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 (%)
1,320-82.8
3,949-60.6
7,670-28.7
10,023-17.0

Annual cash dividends per share (¥)
InterimYear-end
5.00
2.50
2.50
5.00
2.50
2.50

Total annual cash
dividends (¥ million)
2,493
2,493

Payout ratio
(%)
206.1
68.1

Dividends on equity
(%)
1.8
1.8

Financial Position
Total assets(¥ million)
353,888348,323

Shareholders’ equity(¥ million)
136,506
137,860

Shareholders’ equity ratio
(%)
38.6
39.6

Shareholders’ equity pershare (¥)
273.77276.48Ended Mar. 1999
Ended Mar. 1998
Notes:
1. Number of shares outstanding at end of period:Year ended March 1999: 498,622,398 shares(Par value capital: No. of shares for 1 unit: 1,000 shares)
Year ended March 1998: 498,622,398 shares
2. Difference between market value of securities and calculated value in interim balance sheet: ¥38,617 million
3. Difference between market value of derivatives at end of period and contract price: -¥151 million

2. Projected Results for Fiscal 1999 (April 1, 1999 to March 31, 2000)
Net sales
Ordinary income
Net income(¥ million)(¥ million)(¥ million)
Interim period
102,000500500
Fiscal 1999207,000
4,000
3,000
Reference: Estimated earnings per share for fiscal 1999: ¥6.02

Annual cash dividends per share (¥)
InterimYear-end
0.00 – 2.50
2.50 – 5.00
2.50 – 5.00