PRESS RELEASES > February 4, 2004
February 4, 2004

1. Notes to the Quarterly Financial Results

Changes in accounting principles of net sales (or equivalent to this) in the most recent fiscal year [Yes/No] : Yes

- Simplified procedures are used for insignificant items.

2. General outline for Consolidated Financial Results for the Third Quarter of FY2004 (From April 1, 2003 to December 31, 2003)

(1)

Net sales (Amount: Rounded off to nearest final digit)

  million yen  
FY 2004 Q3 649,411 - 6.8%
FY 2003 Q3 697,085  
FY 2003 (for reference) 927,956  

- The percentage figure is for the previous third quarter comparisons.
- Although no consolidated accounts for the previous third quarter is disclosed, above-figure was calculated in accordance with same method for this third quarter.

(Supplementary information concerning net sales)

During the third quarter, the Japanese economy showed signs of a recovery, including GDP increase buoyed by export or capital investment from beginning of this fiscal year. Although public investments were continuously decreased, business sentiments are improved, due to stock price increase.

In the cement industry, however, cement demand decrease is ongoing due to decreased public works, etc. in Japan. In the third quarter of FY 2004, domestic cement sales, - excluding import products, was decreased to 44.77 million ton, that is 6.8% decrease compared with the previous same term.

(2) Important factors, influenced consolidated finance and business results in FY 2004 Q3.

TAIHEIYO sold Toyosu ON Building at the rate of 37.2 billion yen on December 19, 2003 and it has generated profit on sale of 10.4 billion yen.
And this profit was already disclosed on December 18, 2003.

3. Proposed consolidated business performance in FY 2004.
(From April 1, 2003 to March 31, 2004)

With reference to the consolidated business performance, at present, TAIHEIYO do not expect any major differences from the previous business forecast.