ARTHUR ANDERSEN Nitto World Co., Limited Financial statements for the veer ended 30 Jime 1997 together with dixectors' and auditors! reports Uopiaared number 12808 [A tae iM Directors! repart ey ca yamine 50 sae 2887 Seuzeuus peso thee runt Sallis wb serpy stb Ht ae Fine stamens an aincs pork forthe yes we Jar 195 Plicipa activity and business rine “The prig! ety ua eomngany fre nenonchinand r gervento he Taner Hotel ao Gol Comoran Sp ae ecmspary tron an sper point yoo a AL EPR7P SCe ‘Rell ad dividents he hme Fe the yr es EU 181 930 -£3768.212) aa hess = crsney avis beers alae tation sven CO.212.295 106. 1 52} nce pavpned E956 AN instore anc er snesets Th Sete uf Ue ogy during year nee Bese K Nakane hamsours K oleate Ch Rowe Chika Se MMon signed 1 Oxide 1986) ‘Se divest ba aol alt un share engamyatany He Sug se Yo. 1 NITTOWoRwUCo, Lanse Directors’ report (conlinued) Diceeses'respo itis Coup lw naires he ernr pooper laa saints ven: anneal yes whik vr «Pre ad fee ‘fthe site oars of he compony 2649435 pufcer Tax fr at ped preparing sana setPrent he + ster sae accousting ehaies an then appt thers sonnet: tank gansta wl einer het ere earns stead jen + cate wheter aprLeaHeaewunting tindarde hove beta feted. colo a mae departures dled and ‘expe un Ba Fini tate st 4 puapace ae nae stamens on the gong cnet bis mses hap. pmeae ts presume thatthe coup wi centinue ia bene, ‘he rectors ae veqpanib or Zeopng pauper secoundng ards Wich Uncee ith rensansleaoacy a ay te Soe franca pasion af the cena a enable tin tn ene Ht the fcancel xtanats soupy wll the Compe [ACLS They azeals esponue fo efegaarcing the mice fhe ca:pany a2 ene for lag reasorable sep oe {he oavonion se dettoa of et alter eepsaitis, Avtons respon wel be sted at he amen. gens isc eazpuink thar Anderon, Chicas Accom 9 wn foc thee ye an VivoSue Fy onder le Boe Tanda EQN DAA 2 ITO WORLD OO, LIMITED, ARTTIUR ANDERSTN Auditors report Tae “To the Shuschoiders wf Mtl Woulé Co, Lemea Wwe have aude th finer aatomecis pages 4402 seh have pen prepa ander the htc. cot sons and the aso poles vel olan pages Yan esnstvecetponsbitioe of dcctrsand scion padre on pay 2 the conyaey'reh acrorssorae fate papstaien et he Eng satan, Ie ose erpmmchihy (aan se neapensent spinner al eae atnsents de epot ou epinon fy. Basis of opinion Wie conéa eae audit. orrnncurce its Atkin Stdves kone by De Achling Paces Bou, An aud mendss ron atin om test ney vance tet amt ed lchnaues the snl tame Kaleo inser Tevesasten fe sgn sinatra ne the dinamo i the prpavason th meni luis ad of rhebes the accounting gules we applet te the cremneans of company, sonal pple aad agsquatnly seve se phan aslyertvened sur aul 96 taal the pain ad eplaratons lsh we canedered mesessary snanr ts rove ws rt alent eden m give rasmus. thatthe fines] teleost fom, ‘meter mdnlatasene shether nse by aur other iret ov oro. InZaraung ous oenien wr aio evshara Ihe nel adauey ofthe alain of mormton ee inal tenets, ‘Wea dre sauetoa tothe corpus net lly positon af 2812440 a 30 Jane B97. The oan esses ete sctinring the Leainzaon of finnsil sen an nme bong com pacy, is Kagge Co, Lin seston fens vecaans, nvr, me ive bos able ain ees ancien 255 sell oe avis oe as he essere eal prction of Sil Brgy i, init sad carding we aioe the nacesay Snes" mappa. inte ea that Nite Kopye Ce, Lule unable ts prone ay Groce esta rogue Be sanyo the ving onsen hai ny noe app ee and anetmers my be nessa 19 Sennen ed expe oer esoweable mau vide ory atin eis thar use Opinion cept or ny wasnt a ney aves from Mite Kg Cu, Usa ingsaable ws owe the necessary fnene ssppusl ote cor pen vu ophion eich vine git tran es wk of heat thea ofthe arpa 930 fara 1987 ae ts osean cen Hex ib he yo er end a Ive ban propor prepare rans Hh he Compas ACLS (thus Ardersia saath Andeeen (Chtered Aucastants and Reyterad Aadlots 1995, Vwen eat ange C2500 3 Mirra WORLD CO, MIE Profit. and lass accent e836 Jape 1 Sues “Ternower -etinsing wprations 2 non pit ar speasing expenses fet peraing wot = cemtnaing operations investment eee 4 Ioteee sie a mer earge Tone on dinar ateitios Meforsand afer tnation agar ‘the accompanying ole ace a ingel pf ty rot sal oe aoe ‘hecompany has a0 nesgriged sina cr osu the than te lao ac naa Yo 4 NITTO WORD CO, LIMITED. wer agers ‘RrO5258, aa zoce sms ees eserasyy zie) casas, 3ous 408210, eannass, asian Balance sheet apne 187 Pied sete Toute oes Coment acts sects Delios: Amun fing denen ere yar Tetio:s ago ang du alr ex than ers yon Catatonia creditor Aeneas ling de within oe Fos “Total asics eas ute ails ‘Ceetion Aunourt llisg Ue ar nore an oe Pr capital a eserves Fapity havea Shave pein eacount Prot ad Ise account “Total capital abun raed nn cb ofthe Bosed 18 Devenir 17 ‘The anousnanyingalarvan inkl par otic lance shee 5 RITKOWoRID CO, OMIEED or 60 AS arose L192 paras wrasis ery arses, ery 84078 enna, asarasae, sna, 50 sarang sana essa) parse rere esau, onze ssanacte rena casero Cash flow statement Foethe yraranded Hone? [Net has afew from operating scvies a8 Rens am estinese ant stern finance Na <i outlaw fom retaras on ives service of Banc capital expedite an fname invariant Parshaoe angie os asst Sele of angi ied aot et eseh ule from capital expenatars as fnancilivesement [Netenah infovefetin) befor Flancing Fisaosiag Nev bork Fars agar ef Lk Laas wien Bans pple Intrcompany ous gated Capital slant aac ene repeyriente Net son flow Fm mance (were meat isisiie Te mscinpaspiag notes a aman’ parse ices Fon tenet, sur par sapling have been seabed to simple Th FREI Revie § NIrrO WORLUCS, URATED ate cara, aa raauie, tinasneesy sn.g08.505 easy aie 86508 (eames, a) 19908 ze Ea) HS) tes s28985 eS Cal nest Notes to financial statements, have 997 1 Street af scouting paticne seminary ef he pep accom pt iis lle whee have be spd omen Uvalde sth preg oni a steal lon “The Fri ttre en epee nar stra cot eouvenin and im acondan ith apie ble sng andsee “The ouapay as lec ude ction 2 ofthe Companies Ast Snot a congo Nae lt Mpa ed 98 Je oalseina gcoratal fr dhepurguae el yng teen ar ee 8 Tmgih foe ate Logie ive seston sated cot ae wets Soper esa ste No deprecntin is rotlded 9° fee wd and and hangs the dieters he oon Ua yee high ev xpendtane gener antes the gh ves areas of thee blige ane sh Ul ew prvi for opreitin 2 recmset. Deprcntin.on eterna iad aaa provide cane clean to rcs af eu cout cote osc wur oe tel on aight bas ing the fering ail aoe hich re ved othe expe wal soma Lies Pe tot Plants yen, 510508 od seat estate ae hess ane ase nens iten f ay esis Socks até wth unaccl acs ates wae 7 NTFOWORLACO, LIMITED Notes t financial statements (continued) 1. Sisto! of scouting poveen caniaued? Sige sone he del the tesa, rannctionsoneminstod i orig untick swoon aig at aehange aon omer ane ul Ube deromindn in fron caren ie vas at sopoicd atthe rata of eucge weal sethe yearend. Any gsinc ins arkng cm change nextel eueqent ne af the treason ie epte aoachonge gain one the rota se ut “Tamevor ccc ate sel we of gnc and zoranspevided, echnie of WAT a al scons goat gh sae ‘sees quo undar ina ge Selly pnt ths ar valu of tassel wean eprivaleat gaan Categonsed ac approptiie uns sedis die within shore year. The aati aprecaia’ oe he shoe of he deseo tt nd it wes synomie misting le does hs halons ve. Fe ner charge stem lade: Fume chaeh9 dileertl lo \ecanowie Hs, Chasis elaing tn inns Iss: prea soa of he i se punking periods eve ht pio lhe nage a gndnee 2 conatat rata surat staking abu Reales unter oprmting sas ae2 any ona a ghtae hse aber he eae tan, Fuster infront sng the eared Gv eamunianet een f ne 1 Tein Cargeralua x paabio ie prowided om ene ule the curr ee Defer nation aes irc dire ine ing stn the ecogusn of tee, pinnae financial tated en by the tx authors! he Poin led 4 te bay ath Defer iin poral ontiaag esence hich sate apo of the ctor will roby reco a ial af neiielyw bei forest ti of reves. DeBave sia el rus 2 ining Sifecences which. the paz: the dices, il probaly never “The company sperulesa deine oral pancon scheme, Penson abuts sechargad to the pat and as 25000 en te sasivuf read Ue cota proving parsons ave the pein of aged! genera the compar. Father Inferttic=n thizwciene povided fa nte & NITTOWORLRCO, LIMITSD. Noles lo linancial statements (continued) 2 Segment information Ja the pian ofthe aon compas hus ony er market sg nent and thus ro ogracbl wai is pve {5 Other operating rspemen (a) ing ane abating core donate expen ler ivene Lowe or eechangy movements 4 Asvesenet come faye seen loans to otersrou> adetainge Davk verse 5 mero popable and sists charges Ccalbene dro oer grep ondenatings epee iti fie yas by eae Gn braklosae repay ii eye nt hy etnrente co sete 1509) 588 saneey aan. 102205 187 282501 SAS cas wens ome) i) Bae sae