II. Forecasts For The Year Ending March 31, 2003

 We forecast sales for the full year to increase by 6% to 510 billion yen, taking into account the recent upturn in demand.

  Please note, that this figure includes 19.7 billion yen worth of estimated sales from NSK Autoliv Co., Ltd., which is in charge of our seatbelt business. At the time of our "Mid-term Business Strategy Conference" earlier in February, we had been planning to transfer 30% of our stake in NSK Autoliv to our partner, Autoliv Inc., at the start of fiscal 2002. This would have meant losing majority in the company, bringing our stake down to 30% and removing NSK Autoliv from our scope of consolidation. The figures we announced in February had been prepared on this precondition. However, in line with the proposal from Autoliv Inc., we have decided to skip this process and sell our remaining 60% share at one time to Autoliv Inc. next April.

 We estimate operating income, ordinary income and net income to amount to 17 billion yen, 11 billion yen, and 4 billion yen, respectively, for the full fiscal 2002, including the effects of the 2nd phase of our business restructuring program in Japan and Europe.