ACCOUNTS FOR THE 43RD FISCAL TERM
FROM 1 APRIL 1998
TO 31 MARCH 1999
NITTO KOHKI CO.,LTD.

B A L A N C E S H E E T
AS AT 31 MARCH 1999

ASSETS		LIABILITIES and SHAREHOLDERS' EQUITY
account title	amount	account title	amount
CURRENT ASSETS	23,029,803	CURRENT LIABILITIES	2,285,888
Cash & Deposits	11,788,609	Notes Payable, Trade	542,168
Notes Receivable, Trade	3,806,786	Accounts Payable, Trade	716,518
Accounts Receivable, Trade	3,337,268	Accounts Payable, Other	158,173
Marketable Securities	248,627	Accrued Expenses Other	354,644
Finished Goods	1,463,529	Deposits Received	57,091
Raw Material	1,229,580	Accrued Bonuses	444,000
Work in Progress	154,750	Other Current Liabilities	13,290
Advance Payments	14,566
Prepaid Expenses	42,849
Income Taxes Refundable	775,459
Other Current Assets	213,877
Allowance for Doubtful Accounts	- 46,100
FIXED ASSETS	10,822,556	LONG-TERM LIABILITIES	703,903
Tangible Fixed Assets	6,804,845	Reserve for Retirement Allowances	416,361
Buildings	2,719,534	Board of Directors'
Structures	154,756	Retirement Allowances	188,455
Machinery & Equipment	610,789	Other Long-term Liabilities	99,086
Automotive Equipment	15,341
Tools, Furniture, Fixtures and Other	612,199
Land	2,662,710	TOTAL LIABILITIES	2,989,791
Construction in Progress	29,514
Intangible Fixed Assets	16,498	SHAREHOLDERS' EQUITY	30,862,569
Patent Rights	443	Common Stock	1,850,324
Trade-mark Rights	431	Legal Surplus	2,287,756
Other Intangible Fixed Assets	15,623	Legal Capital Surplus	1,925,531
Investments and Other Assets	4,001,212	Retained Earnings Surplus	362,224
Investments in Securities	943,022	Earned Surplus	26,724,488
Investments in Affiliates	1,392,410	Reserve for Equalization of Dividents	220,000
Treasury Stock	64,175	Reserve for Deferred Income
Long-term Loans	592,200	Tax for Fixed Assets	112,710
Long-term prepaid expenses	60,809	General Reserve	25,887,299
Guaranty Deposits	101,078	Unappropriated Retained Earnings	504,478
Accumulated Funds of Insurance	611,181	(net income)	(708,357)
Other Investments	240,334
Allowance for Doubtful Accounts	-4,000
TOTAL ASSETS	33,852,360	TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	33,852,360

PROFIT AND LOSS STATEMENT
FROM : 1 APRIL 1998
TO : 31 MARCH 1999

account title	amount
ORDINARY INCOME AND EXPENSES
Operating Income and Expenses
Operating Income
Net Sales		17,034,848
Operating Expenses
Cost of Sales	10,188,804
Selling, General and Admin. expenses	5,896,916	16,085,720
Operating income		949,127
Non-operating income and expenses
Non-operating Income
Interest and Dividends Received	285,238
Other Non-operating Income	58,697	343,936
Non-operating Expenses
Loss on Valuation of Marketable Securities	51,533
Sales Discounts	59,414
Other Non-operating Expenses	72,066	183,014
Ordinary Income		1,110,049
EXTRAORDINARY INCOME AND EXPENSES
Extraordinary Income
Reversal of Allowance for Doubtful Accounts	28,300
Reversal of Reserve for Retirement
Allowances	24,050
Other Extraordinary Income	24,263	76,614
Extraordinary Losses
Loss on Valuation of Treasury Stock	82,888
Loss on Sales of Treasury Stock	38,225
Other Extraordinary Expenses	30,000	151,115
Income before Income Taxes		1,035,548
Income Taxes		327,190
Net Income		708,357
Unappropriated Retained Earnings Brought Forward		503,616
Interim Dividend		256,786
Redemption of Treasury Stock		425,030
Retained Earnings Surplus		25,678
Unappropriated Retained Earnings		504,478

STATEMENT OF APPROPRIATIONS

account title	amount
Unappropriated retained earnings		504,478,597
Reversal of General Reserve		25,887,299,000
Appropriation of retained earnings
Retained Earnings Surplus	26,000,000
Dividends	252,525,330
Ordinary Dividend of ¥ 10 per share
Reserve for Interim Dividend	278,000,000
Reserve for Treasury Stock Redemption	3,750,000,000
General Reserve	22,000,000,000	26,306,525,330
Retained earnings carried forward to the next year		85,252,267