MARUI CO., LTD.

FINANCIAL HIGHLIGHTS
Marui Co., Ltd. and Its Consolidated Subsidiaries
Eight months ended September 30, 2003, and years ended January 31, 2003 and 2002
Thousands of United
Millions of yen except
States dollars except
net income per share*
net income per share**
2003/9*** 2003/1 2002/1 2003/9
Operating results:
Operating revenues......................................................... ¥353,408 ¥558,867 ¥551,564 $3,183,856
Merchandise sales........................................................ 273,608 443,933 443,358 2,464,937
Interest income on consumer loans ............................ 36,558 53,500 46,324 329,351
Operating income ........................................................... 16,009 34,317 32,929 144,225
Ordinary income............................................................. 16,414 33,938 33,059 147,874
Net income...................................................................... 6,154 17,620 14,910 55,441
Net income per share (Yen and dollars):****
Basic............................................................................. ¥17 ¥48 ¥40 $0.15
Diluted......................................................................... 17 45 38 0.15
Financial position:
Working capital .............................................................. ¥232,776 ¥263,802 ¥213,289 $2,097,082
Stockholders’ equity........................................................ 414,456 425,641 424,400 3,733,838
Total assets...................................................................... 734,157 729,901 743,791 6,614,027
* All yen figures in this annual report are represented based on accounting principles generally accepted in Japan.
** All dollar figures in this annual report refer to U.S. currency. Yen amounts have been translated, for convenience only, at the rate of ¥111 to US$1.
*** The fiscal period ended September 30, 2003, consists of the eight months from February 1, 2003, to September 30, 2003, because of the change
**** of the year-end.
**** See Note 2 of the notes to consolidated financial statements.
Note on Irregular Accounting Periods
Marui Co., Ltd., has changed its fiscal year-end from January 31 to
March 31. During this transitional term, the Company will use
irregular accounting periods of eight months and six months,
respectively. The fiscal period reviewed in this report is from
February 1, 2003, to September 30, 2003, while the current fiscal
period is from October 1, 2003, to March 31, 2004. Consequently,
performance comparisons of the fiscal period under review and the
previous fiscal year have not been included.
Forward-Looking Statements
This report includes certain “forward-looking statements”. These
statements are based on management’s current expectations and are
subject to uncertainty and changes in circumstances. Actual results
may differ due to changes in economic, business, competitive, technological,
regulatory and other factors.
Cover: Kobe Marui (Opened in October 2003)
Contents
Corporate Profile............................................................... 1
To Our Stockholders and Friends ..................................... 2
Enhancing the Marui Brand ............................................. 5
Financial Review .............................................................. 10
Consolidated Five-Year Summary ..................................... 12
Non-Consolidated Five-Year Summary............................. 13
Consolidated Financial Statements ................................... 14
Notes to Consolidated Financial Statements..................... 19
Independent Auditors’ Report .......................................... 27
Store Information .............................................................. 28
Marui Group Companies................................................... 30
Board of Directors ............................................................. 32
Corporate Data/Investor Information............................... 33
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