Mitsui Chemicals

Amendment of Annual Financial Estimates

April 1, 2002
Mitsui Chemicals, Inc.
Corporate Communications Div.
FAX No. +81-3-3592-421

1. Amendment of Annual Financial Estimates (Non-consolidated)

(million yen, %)

[2001.4.1 - 2002.3.31]
Net sales Operating Income Ordinary Income Net income
Last estimates (A)
(announced on November 19,2001)
620,000 26,000 25,000 11,000
Amended estimates(B) 590,000 25,000 24,000 9,000
Difference(B-A) -30,000 -1,000 -1,000 -2,000
Ratio -4.8% -3.8% -4.0% -18.2%
Results of last fiscal year
(2000.4.1 - 2001.3.31)
681,122 40,421 39,511 12,578

2. Amendment of Annual Financial Estimates (Consolidated)

(million yen, %)

[2001.4.1 - 2002.3.31]
Net sales Operating Income Ordinary Income Net income
Last estimates (A)
(announced on November 19,2001)
1,000,000 50,000 42,000 13,000
Amended estimates(B) 950,000 43,000 37,000 7,000
Difference(B-A) -50,000 -7,000 -5,000 -6,000
Ratio -5.0% -14.0% -11.9% -46.2%
Results of last fiscal year
(2000.4.1 - 2001.3.31)
939,782 54,512 49,067 17,068

3. Reasons of Amendment

Operating Income and ordinary income are estimated to decrease a little from with the last estimation. Net income will decrease by 18% in non-consolidated and 46% in consolidated because of the increase of special losses resulting from valuation losses on marketable securities (first half 4,000 million yen, second half 5,800 million yen, annually 9,800 million yen).

[Net sales]

* Petrochemicals and basic chemicals sector
Net sales would decrease mainly due to the price down of products because of that of naphtha.
* Performance materials sector
Net sales would decrease mainly due to the price down of urethane chemicals and the decrease of sales volume of products for IT-related industries.

[Operating income, Ordinary income]

* Non-consolidated
Operating income and ordinary income will end at the same level as we announced on November 19 last year, because our effort of rationalization will overcome the influence of the price down of products.
* Consolidated
Operating income and ordinary income will decrease due to the price down of urethane chemicals etc.