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January 2005

Update : Jan. 28, 2005

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FY2004 Third Quarter Report (Consolidated)

During the third quarter, operating revenues increased 5.434 billion yen from the third quarter of the previous year to 39.582 billion yen. Operating profits totaled 8.933 billion yen, an increase of 2.986 billion yen from the previous year's third quarter. Ordinary profit rose 3.005 billion yen to 9.860 billion yen.The net profit for the quarter rose 2.207 billion yen to 6.423 billion yen.All of these numbers are significant increases from the same quarter of the previous year.


As for a breakdown of income and expenditures, fees from trading participants, which make up operating revenues, decreased 548 million yen from the previous year to 15.28 billion yen.While the average daily trading value for the period (1.2671 trillion yen) represented an increase of nearly 30% from the previous year (986.2 billion yen), the revision of standard rate fees in November 2003 due to commencement of direct collection of clearing fees by Japan Securities Clearing Corporation (JSCC) was a factor in the decrease in revenues.


Additionally, listing revenues increased 1.654 billion yen to 8.540 billion yen as a result of significant capital expansion and CB issues.


Moreoever, with ToshoSystemServiceCo., Ltd.'s development and delivery of a large-scale system for Japan Securities Depository Center, Inc. (JASDEC), system development and operations income increased 393 million yen to 1.743 billion yen.Also, the commencement of direct collection of clearing fees by JSCC increased securities settlement income 3.545 billion yen to 6.387 billion yen.


On the other hand, operating expenses rose 2.448 billion yen to 30.648 billion yen.This is due to a 1 billion yen rise in depreciation resulting from capital investment in stock trading system and market information system replacements.Additionally, exploitation costs for system development and operations income, as well as other operating costs of 1.075 billion yen were significant factors.


Consequently, operating profits totaled 8.933 billion yen, and ordinary profits (including equity method investment profits of 570 million yen) were 9.860 billion yen.Net profits were 6.423 billion yen, a 150% increase from the previous year.


Estimated results for the full business year are:operating revenues of 51.5 billion yen, ordinary profits of 10.4 billion yen, and net profits for the period of 6.6 billion yen.Ordinary profits have been revised 1.9 billion yen upward from the figures announced in the interim financial report, and net profits for the period have been revised 1.1 billion yen upward from the same figures.

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Revision of securities listing regulations resulting from assignment of foreign stocks to the 1st and 2nd sections

These revisions are based on the outline presented in April 2004 regarding the assignment of foreign stocks to TSE's 1st and 2nd sections.


As announced in October 2004, the revisions will be implemented on February 7, 2005.

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