Financial Information: Annual Report 2002

The Company and its subsidiaries have entered into foreign currency hedging transactions to reduce their exposure to adverse fluctuations in foreign exchange rates relating to their receivables and payables denominated in foreign currencies.

(a) Summarized below are the notional amounts and the estimated fair value of the derivative transactions outstanding at March 31, 2002 and 2001:

Millions of yen				Thousands of U.S. dollars
As of March 31, 2002	Notional amount	Fair value	Unrealized gain (loss)	Notional amount	Fair value	Unrealized gain (loss)
Options
Put options, sold:
STG£	¥570			$4,286
(Premium)	(0)	¥ -	¥ (0)	(0)	$ -	$ (0)
Call options, bought:
STG£	1,140			8,571
(Premium)	(0)	2	2	(0)	15	15
Forward foreign exchange contracts
Sell:
U.S.$	1,227	1,325	(98)	9,226	9,962	(737)
Buy:
U.S.$	371	374	2	2,789	2,812	15
STG£	2,912	2,903	(9)	21,895	21,827	(68)
YEN	824	769	(55)	6,195	5,782	(414)
Total	¥ -	¥ -	¥(158)	$ -	$ -	$(1,188)

Millions of yen
As of March 31, 2001	Notional amount	Fair value	Unrealized gain (loss)
Options
Call options, sold:
EURO	¥513
(Premium)	(0)	¥(33)	¥(33)
Put options, bought:
EURO	1,026
(Premium)	(0)	(0)	(0)
Forward foreign exchange contracts
Sell:
EURO	1,967	2,064	(96)
Buy:
U.S.$	284	276	(8)
STG£	98	105	6
DM	24	21	(3)
YEN	1,692	1,594	(97)
Total	¥ -	¥ -	¥(232)

The notional amounts of the forward foreign exchange contracts presented above exclude those entered into to hedge receivables and payables denominated in foreign currencies which have been translated and are reflected at their corresponding contracted rates in the accompanying consolidated balance sheets.

Interest-related transactions
At March 31, 2002 and 2001, the disclosure of fair value information for interest-related derivative positions has been omitted since all derivatives have been accounted for as hedges.