I. Consolidated Results

 Interest and dividend income fell 0.5 billion yen from fiscal 2000. Interest expenses also decreased by 1.6 billion yen. Therefore, our overall financial balance improved by 1.1 billion yen. The main reason for this improvement is the reduction of interest expenses worth 1.4 billion yen compared to fiscal 2000 achieved through the reimbursement of high interest rate bonds and re-financing at lower interest rates performed at the parent company.

 Equity in earnings of affiliated companies was 2.6 billion yen, a year-on-year decrease of 0.6 billion yen. This is because Amatsuji Steel Ball Mfg. Co., Ltd. and Inoue Jikuuke Kogyo Co., Ltd. recorded lower profits compared to the previous year.

 Miscellaneous income was 1 billion yen lower than fiscal 2000 as we had appropriated profits from the sale of auxiliary facilities at the Fujisawa plant in the previous year.