News

In light of the Company’s recent performance, we have revised the full-year projections for consolidated and non-consolidated business results and the dividend per share for fiscal 2007, the year ending March 31, 2007. The previous projections for consolidated business results and the dividend per share were disclosed on February 5, 2007, and those for non-consolidated business results were disclosed on November 1, 2006.

1. Revised Projections for Business Results for Fiscal 2007 (April 1, 2006 to March 31, 2007)

2. Revised Projections for the Dividend per Share for Fiscal 2007 (April 1, 2006 to March 31, 2007)

	Dividend per share (yen)
Record date	Interim	Year-end	Dividend for the year
Previous projections (Disclosed on May 10, 2006)	—	3.00	5.00
Revised projections	—	4.00	6.00
Dividend paid for fiscal 2007	2.00	—	—
(Reference) Results for fiscal 2006	—	4.00	4.00

3. Reasons for the Revisions
Non-consolidated net sales and ordinary income are expected to exceed the previous forecasts, reflecting unexpectedly high copper prices, yen depreciation and increased dividends from overseas copper mining companies. However, the projections for non-consolidated net income remains unchanged from the previous projections owing to the impact of the increased reserve for environmental measures in addition to losses at subsidiaries and affiliates.

Consolidated net sales, ordinary income and net income are expected to exceed the previous projections, supported by an increase in non-consolidated income and increased profitability in Cement business in the U.S. and Electronic Materials & Components business.

Taking the new projections into account, the dividend per share for fiscal 2007 will be increased ¥1.00 from the previous projections to ¥6.00. The year-end dividend per share will be ¥4.00.