凱旋門 賞 競馬

Kansai Electric Power 凱旋門 賞 競馬., Inc (Kansai Electric) has decided to adopt the "Accounting Standard of Impairment Loss on the fixed assets" from the six-month period ending September 30, 2004 ahead of accounting standard's requirement. As a result, the financial forecasts for the fiscal year 2005 (04/01/2004-03/31/2005) announced on May 18, 2004 have been revised as follows;

I. 凱旋門 賞 競馬 "Accounting Standard on Impairment of Fixed Asset"

凱旋門 賞 競馬 has decided to adopt early the "Accounting Standard of Impairment Loss on the fixed assets" from the six-month period ending September 30, 2004 in order to further enhance the transparency of the financial statements and early strengthen the soundness of financial position. 凱旋門 賞 競馬 estimates that the impairment losses on consolidated basis and non-consolidated basis will amount to 44 billion and 26 billion respectively, and be booked as extraordinary losses.

II. Financial Forecast Revision

1. Revision of Consolidated Financial Forecast

2. Revision of Non-Consolidated Financial Forecast



3. The Reason for Revision

Electricity sales grew to a large degree due to improvement of business confidence and a considerable increase in air-conditioning demand caused by a smothering heat wave. However, we will post extraordinary losses of the impairment losses by 凱旋門 賞 競馬 asset-impairment accounting (Estimated amount: 44 billion on consolidated basis, 26 billion on non-consolidated basis) and the cost of reorganization of group companies scheduled for October 1 (Estimated amount: 38 billion on consolidated basis). Therefore, 凱旋門 賞 競馬 revises both the consolidated and non-consolidated financial forecasts.