Tokyo, October 5, 2000 Based on the recent trend of our business performance, we hereby modify our business forecasts announced during settlement-of-account announcement on April 28, 2000, as follows:

Management Discussion

(1) Modification of forecasts for the unconsolidated settlement of accounts for the current fiscal year

Because of restructuring enforced for the purpose of business performance improvement, as well as drastic management reforms during the interim settlement-of-account term, we achieved cost reduction and expense curtailment savings greater than our original predictions, so that net income growth can now be anticipated. This is the reason for the modification of the earlier announced figures. As a result of modification of the interim settlement-of-accounts figures, we also revised our full-term forecasts announced earlier.

( 2) Modification of forecasts for the consolidated settlement of accounts for the current fiscal year

In addition to the anticipated improvement of our unconsolidated business figures during the interim settlement-of-account term, cost reduction and expense curtailment savings greater than our original predictions were also attained in our consolidated subsidiaries as a result of restructuring executed for the purpose of business performance improvement. Because net income growth is forecast as a result, the earlier announced figures are hereby modified. As a result of modification of the interim settlement-of-accounts figures, we also revised our full-term forecasts announced earlier.

 

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