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News Releases : 2004

Notice Concerning Valuation Loss on non-Marketable Securities

2004.03.17


We do hereby give notice that in respect of the shares of POWEREDCOM, Inc. (book value 19,516 million yen) held by Mitsui & Co., Ltd. (hereinafter "Mitsui") that we have made a decision of a write- off for a valuation loss on non-marketable securities for the fiscal year ending March 31, 2004 after considering their recent financial position.

  1. Influence on Mitsui's consolidated results
    As the write-off for the valuation loss in respect of these shares is approximately 19.5 billion yen, there is no change in the forecast for the financial results this fiscal year ending March 31, 2004.
  2. POWEREDCOM, Inc. Outline
Trading Name POWEREDCOM, Inc.
Location of Head Office Shinagawa East One Tower, 2-16-1 Konan, Minato-ku, Japan
Representative Satoshi Shiraishi: President
Business Scope Type-1 telecommunication, Type-2 telecommunication
Establishment Date March 7, 1986
Capital 42,0618.5 million yen
Major Shareholders Tokyo Electric Power Co., Inc. 35.6%
Mitsui 11.6%
Mitsubishi Corporation 11.6%
Kansai Electric Power Co., Inc. 7.0%
Sumitomo Corporation 5.8%
Closing Date March 31

For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Corporate Communications Division
(Person in charge: Hiraki)
Telephone: 03-3285-7533
Facsimile: 03-3285-9819
E-Mail : Y.Hiraki@mitsui.com

The information contained in this news release is true and accurate at the time of publication; however, it may be subject to change without prior notice.

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