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Management's Discussion and Analysis of Operations
FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED STATEMENTS OF OPERATIONS
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
CONSOLIDATED STATEMENTS OF CASH FLOWS
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
INDEPENDENT AUDITORS' REPORT
Kadokawa Holdings Board of Directors
Corporate Data
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FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA


Note 1: U.S. dollar amounts have been translated from yen, for convenience only, at the rate of ¥105.63= U.S.$1.00, the approximate exchange rate prevailing on the Tokyo Foreign Exchange Market as of March 31, 2004.
  2: Net income (loss) per share of common stock for the years ended March 31, 2002, 2001 and 2000 have not been recalculated using the new accounting standard, which is effective April 1, 2002.

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