Financial Information

Financial Year

The financial year of the Company currently begins on April 1 of each year and ends on March 31 of the following year.

Accounting Principles

The accompanying financial statements of the Company are in accordance with the accounting principles generally accepted in Japan.

Independent Auditors

Shin Nihon & Co. is the independent auditor of the Company within the meaning of the Certified Public Accountants Law of Japan.

Outstanding Bonds and/or Notes (Shasai)

None

Subsidiaries and Affiliates

As at March 31, 2004 the Company had 5 subsidiaries which were consolidated. The Company had no other subsidiaries or affiliates.

The following are the Company's consolidated subsidiaries as of March 31, 2004:

Name
Issued share
capital
Percentage directly
or indirectly owned
Principal business
Principal business
 
(Thousands of Yen)
(Percentage)
 
K.K. Denpachi
480,000
100.0%
Other food services
(Japanese food restaurant business)
K.K. Den Hoken
30,000
100.0%
Other (insurance agency business)
K.K. Kourakuen Associate
Tokyo
50,000
100.0%
Ramen (franchisee development and training business)
K.K. Value Line
50,000
100.0%
Other (construction supervision business)
K.K. Screen
50,000
100.0%
Other (advertisement agency business)