News Release

2005.10.21Announcement on Revisions to the Forecast Results for the Mid-term of the Period Ending March 2006

(Note) Figures shown have been rounded down to the nearest million yen

Based on the recent trend of our performance, etc., the forecast consolidated and non-consolidated operating results for the mid-term of the period ending March 2006 (April 1, 2005 to September 30, 2005) in the Announcement of the Settlement of Accounts released on May 12, 2005 have been revised as follows:

Revisions to the Forecast Consolidated Results for the Mid-term of the Period ending March 2006
(April 1, 2005 to September 30, 2005)

(millions of yen)
(Note) Figures shown have been rounded down to the nearest million yen.

  Sales Operating income Ordinary income Net income
for the term
Forecasts in the previous
announcement(A)
(Released on May 12,2005)
86,000 5,100 4,900 2,500
Forecasts after
this revision(A)
82,700 4,000 3,750 1,780
Changes(B-A) Δ3,300 Δ1,100 Δ1,150 Δ720
Rate of change(%) Δ3.8 Δ21.6 Δ23.5 Δ28.8
Actual result in the
previous term (mid-term of
the period ending March 2005)
82,852 5,027 4,870 3,127

Revisions to the Forecast Non-consolidated Results for the Mid-term of the Period ending March 2006
(April 1, 2005 to September 30, 2005)

(millions of yen)
(Note) Figures shown have been rounded down to the nearest million yen.

  Sales Operating income Ordinary income Net income
for the term
Forecasts in the previous
announcement(A)
(Released on May 12,2005)
52,500 4,000 4,100 2,400
Forecasts after
this revision(A)
51,200 3,460 3,780 2,210
Changes(B-A) Δ1,300 Δ540 Δ320 Δ190
Rate of change(%) Δ2.5 Δ13.5 Δ7.8 Δ7.9
Actual result in the
previous term (mid-term of
the period ending March 2005)
51,820 3,794 4,304 2,548

Reasons for the Revision

During the first half of the period, in the non-consolidated results, the sales in the soy protein business fell far below initial estimates. In the consolidated results, the overseas sales remained strong in Europe but fell below the initial estimates in Asia and the US. The domestic sales of dessert products and soy milk were weaker than predicted. As a result of the declines in sales, the incomes are also estimated to fall below the initial forecasts.

The forecasts for the whole year are now being calculated, and after consideration of future economic conditions, market trends, etc., we will publish them in the announcement of the mid-term accounts which is scheduled for November 10, 2005.

(Note) The forecasts above have been made based on the information available at the time of this announcement, and the actual results may differ from these forecasts due to various factors.

End of report

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