Explanatory Notes:
1. The Company prepares its consolidated financial statements in conformity with
United States generally accepted accounting principles since the Company has issued
American Depositary Receipts listed on the New York Stock Exchange and files reports
with the U.S. Securities and Exchange Commission.
2. In accordance with EITF91-5, the Company's consolidated income statement data
for the first quarter ended June 30, 1996 included a pre-tax gain of ¥10,471
million and an after-tax gain of ¥5,026 million on the nonmonetary exchange
of common shares of the Bank of Tokyo, Ltd. ("BOT") for common shares
of The Bank of Tokyo-Mitsubishi, Ltd. due to a merger of BOT and The Mitsubishi
Bank, Limited, on April 1, 1996. The unrealized holding gain on the Company's
investment in BOT shares was previously included in a separate component of stockholders'
equity as of March 31, 1996.
3. Net income per Common (or American) Share is based on the weighted average
number of shares of Common Stock outstanding during each fiscal period and the
number of shares issuable upon conversion of Common Stock equivalents.
4. The average exchange rate for the fiscal first quarter ended June 30, 1996
was ¥107.67=U.S.$1. The average exchange rate for the corresponding period
last year was ¥84.45=U.S.$1, a difference of ¥23.22, as compared with
this year's first quarter.
5. The United States dollar amounts have been translated from yen solely for the
convenience of the reader at the rate of ¥109.50=U.S.$1, the mean of the
telegraphic transfer selling exchange rate and the telegraphic transfer buying
exchange rate prevailing on the Tokyo foreign exchange market on June 28, 1996.
6. One American Share represents two shares of Common Stock.
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