ACCOUNTS FOR THE 46TH FISCAL TERM

NITTO KOHKI CO.,LTD.

BALANCE SHEET

AS AT 31 MARCH 2002

(In Millions Japanese yen)
ASSETS LIABILITIES and SHAREHOLDERS' EQUITY
account title amount account title amount
CURRENT ASSETS 18,483 CURRENT LIABILITIES 2,291
Cash & Deposits 5,595 Notes Payable, Trade 156
Notes Receivable, Trade 3,593 Accounts Payable, Trade 1,067
Accounts Receivable, Trade 3,298 Accounts Payable, Other 193
Marketable Securities 599 Income Taxes Payable  
Finished Goods 1,948 Accrued Expenses 369
Raw Material 229 Deposits Received 68
Work in Progress 104 Accrued Bonuses 418
Advance Payments 1 Other Current Liabilities 19
Prepaid Expenses 50    
Deferred Tax Assets 126    
Short-term Loans 720    
Trust Beneficiary Rights 1,867    
Other Current Assets 360    
Allowance for Doubtful Accounts ▲ 13    
       
FIXED ASSETS 13,241 LONG-TERM LIABILITIES 714
Tangible Fixed Assets 4,772 Allowance for Retirement Benefits 428
Buildings 1,357 Allowance for Board of Directors'
Retirement Benefits		 189
Structures 81
Machinery & Equipment 23 Other Long-term Liabilities 96
Vehiceles and Delivary Equipment 15    
Tools, Furniture, Fixtures and Other 496    
Land 2,798 TOTAL LIABILITIES 3,006
Construction in Progress －    
Intangible Fixed Assets 34 SHAREHOLDERS' EQUITY 28,718
Computer Software 19 Common Stock 1,850
Other Intangible Fixed Assets 14 Statutory Reserve 2,388
Investments and Other Assets 8,434 Additional Paid-in Capital 1,925
Investments in Securities 513 Earnings Surplus Reserve 462
Investments in Affiliates 4,335 Retained Earnings 24,791
Long-term Loans 2,743 Reserve for Equalization of Dividents 220
Long-term prepaid expenses 12 Reserve for Advanced Depreciation
on Tangible Fixed Assets		 24
Deferred Tax Assets 386
Guaranty Deposits 110 General Reserve 24,800
Accumulated Funds of Insurance 203 Reserve for Interim Divident 1
Other Assets 173 Undisposed Deficit ▲ 254
Allowance for Doubtful Accounts ▲ 44 (net income) (1,107)
    Unrealized Holding Gains on Securities ▲ 100
    Treasury Stock ▲ 209
       
 TOTAL ASSETS 31,725 TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY
31,725



INCOME STATEMENT

FROM : 1 APRIL 2001
TO : 31 MARCH 2002

(In Millions Japanese yen)
account title amount
ORDINARY INCOME AND EXPENSES    
Operating Income and Expenses    
　Operating Income    
　　Net Sales   20,224
　Operating Expenses    
　　Cost of Sales 11,923  
　　Selling, General and Admin. expenses 6,454 18,377
　Operating income   1,846
     
Non-operating income and expenses    
　Non-operating Income    
　　Interest and Dividends Received 182  
　　Other Non-operating Income 102 285
　Non-operating Expenses    
　　Cash Discounts 109  
　　Other Non-operating Expenses 202 311
     
　Ordinary Income   1,820
     
EXTRAORDINARY INCOME AND EXPENSES    
Extraordinary Income    
　Gain on Sales of Investment Securities 1  
　Reversal of Allowance for Doubtful Accounts 18  
　Gain on Sales of Investment in Affiliate 276 295
     
Extraordinary Losses    
　Loss on Disposal of Fixed Assets 26  
　Devaluation Loss on Investment Securities 30  
　Allowance for Doubtful Accounts 0  
　Devaluation Loss on Other Investments 13  
　Loss on Sales of Other Investments －  
　Liquidation Loss of Affiliated Company 76  
　Other Extraordinary Loss 6 154
     
Income before Income Taxes   1,961
     
Income Taxes   856
Adjustment of Income Taxes   ▲ 1
     
Net Income   1,107
     
Unappropriated Retained Earnings Brought Forward   98
Redemption of Treasury Stock   ▲ 1,460
Reversal of Reserve for Interim Dividend   358
Interim Dividend   ▲ 358
     
Undisposed Deficit   ▲ 254


STATEMENT OF APPROPRIATIONS

(In Japanese yen)

account title amount
  Undisposed Deficit   254,680,522
     
Reversal of Reserve for Advanced Depriciation on Tangile Fixed Assets 1,443,899  
　Reversal of Reserve for Interim Dividend 1,614,855  
　Reversal of General Reserve 24,800,000,000 24,803,058,754
     
Appropriation of Retained Earnings   24,548,378,232
     
　Dividends 343,994,865  
　　Ordinary Dividend of \ 15.0 per Share    
     
　Bonus to Directors 11,500,000  
     
　Reserve for Interim Dividend 350,000,000  
     
　General Reserve 23,700,000,000 24,405,494,865
     
Retained Earnings Carried Forward to the Next Year   142,883,367



BALANCE SHEET (Consolidated)


Fiscal Year Ended 2002/3 (In Millions Japanese yen)

ASSETS   LIABILITIES  
Current Assets:   Current Liabilities :  
　Cash & Deposits 8,894 　Notes Payable and Accounts Payable, Trade 1,655
　Notes Receivable and Accounts Receivable, Trade 6,982 　Accrued Income Taxes 71
　Marketable Securities 599 　Accrued Bonuses 598
　Inventories 4,202 　Other Current Liabilities 1,361
　Deferred Tax Assets 478 Total Current Liabilities 3,687
　Trust Beneficiary Rights 1,867    
　Other Current Assets 640 Long-term Liabilities :  
　Allowance for Doubtful Accounts -26 　Long-term Borrowings －
Total Current Assets 23,639 　Deferred Income Taxes 9
    　Allowance for Retirement Benefits 799
Fixed Assets:   　Allowance for Board of Directors' Retirement Benefits 192
Tangible Fixed Assets 8,813 　Other Long-term Liabilities 137
　Buildings and Structures 3,094 Total Long-term Liabilities 1,138
　Machinery and Automotive Equipment 1,163    
　Tools, Furniture, Fixtures and Others 598 TOTAL LIABILITIES 4,825
　Land 3,910    
　Construction in Progress 46 MINORITY INTERESTS 166
Intangible Fixed Assets 834    
Investments and Other Assets 2,295 SHAREHOLDES' EQUITY  
　Investments in Securities 514 　Common Stock 1,850
　Long-term Loans 786 　Additional Paide-in Capital 1,925
　Deferred Tax Assets 480 　Consolidated Retained Earnings 27,209
　Other Assets 560 　Unrealized Holding Gains on Securities -100
　Allowance for Doubtful Accounts -46 　Translation Adjustment -83
Total Fixed Assets 11,943 　Treasury Stock -209
    TOTAL SHAREHOLDERS' EQUITY 30,590
       
TOTAL ASSETS 35,582 TOTAL LIABILITIES, MINORITY INTERESTS
AND SHAREHOLDERS' EQUITY		 35,582


STATEMENT OF INCOME (Consolidated)

(In Millions Japanese yen)

Fiscal Year Ended 2002/3

Net Sales 22,206
Cost of Sales 11,845
Gross Profit 10,361
Selling, General and Administrative Expenses 8,023
Operating Income 2,337
Non-operating Income 183
　Interest Income 49
　Other Non-operating Income 133
Non-operating Expenses 352
　Interest Expenses 4
　Cash Discounts 110
　Other Non-operating Expnses 237
Ordinary Income 2,168
Extraordinary Income 16
Extraordinary Losses 371
Income before Income Taxes Adjustments 1,813
Income Taxes 1,118
Adjustment of Income Taxes -31
Minority Interest in Consolidated Subsidiaries 0
Net Income 725


STATEMENT OF RETAINED EARNINGS (Consolidated)

(In Millions Japanese yen)

Fiscal Year Ended 2002/3

Consolidate Retained Earnings at the Beginning of the Year 28,734
Decrease in Consolidated Retained Earnings : 2,251
　Dividends 777
　Bonus to Directors 12
　Treasury Stock Redemption 1,460
Net Income 725
Translation Adjustment －
Consolidated Retained Earnings at the End of the Year 27,209


STATEMENT OF CASH FLOWS (Consolidated)

(In Millions Japanese yen)

Fiscal Year Ended 2002/3

Cash Flows from Operating Activities:  
　Net Income 1,813
　Depreciation and Amortization 779
　Net Increase in Provisions 170
　Loss on Sales of Investment in Affiliate 234
　Net Increase in Assets 2,756
　Increase in Liabilities -910
　Others 136
　　Sub Total 4,979
　Interest Received and Dividends 57
　Interest Paid -4
　Income Taxes Paid -2,553
　　Net Cash provided by Operating Activities 2,478
Cash flows from Investing Activities:  
　Increase in Time Deposits -130
　Decrease in Time Deposits 76
　Payments for Purchases of Fixed Assets -572
　Net Increase in Loans -6
　Acquisition of Consolidated Subsidiaries -1,150
　Others -112
　　Net Cash Used in Investing Activities -1,895
Cash flows from Financing Activities:  
　Treasury Stock Redemption -1,460
　Dividends Paid -777
　Others -127
　　Net Cash Used in Financing Activities -2,365
Effect of Exchange Rate Changes on Cash and Cash Equivalents -21
Net Increase (Decrease) in Cash and Cash Equivalents -1,803
Cash and Cash Equivalents at the Beginning of the Year 12,607
Cash and Cash Equivalents at the End of the Year 10,804

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