— The Company has made corrections to its consolidated and non-consolidated fiscal 2004 half-year results released on November 8, 2004. Revised areas have been underlined within the attached statements.
- Reason for correction of errors -
- (Consolidated)
- As part of the Company's revitalization efforts, it was decided to review its financial services subsidiary in the U.S. In September, the Company signed an LOI with a major investment bank and in November, the first sales transaction took place.
Going forward, further transactions are scheduled with an estimated total loss of 12.9 billion. This was a subsequent event, but it was decided to take a conservative stance and adjust the half-year financial statements. Furthermore, it was decided that it was necessary to address the impairment of assets of an American subsidiary, which resulted in a loss of 19.7 billion yen.
- (Non-consolidated)
- Considering the decrease in net asset value of a U.S. subsidiary due to the factors listed above, it was decided to write-off 66.4 billion yen.
- (Content of corrections made)
- Please see attached pages. (PDF, 16pages, 532KB)
