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Financial statements 2nd Quater of Fiscal year 2010

We are pleased to report that Taiyo Oil's financial statements for the 74th fiscal year (April 1, 2010 through March 31, 2011) has been finalized.

Outline of interim financial statement

Despite the rise in selling price, sales fell to 227,175 million yen (decrease of 4,790 million yen over the same period last year), due to a decline in sales volume resulting from regular repairs of refining equipment.
Operating income declined by 2,345 million over the same period last year, to 2,670 million yen.
Ordinary income was 2,396 million yen (decrease of 1,887 million yen over the same period last year), due to the improvement of the balance of non-operating income and expenses.

  Current interim term Previous interim term Compared with year- earlier period
Gross sales volume 3,241thousand KL 3,613 thousand KL (372 thousand KL)
  (Million yen) (Million yen) (Million yen)
Sales 227,175 231,965 (-) 4,790
Operating income 2,670 5,015 (-) 2,345
Ordinary income 2,396 4,283 (-) 1,887
Interim net income 2,906 3,946 (-) 1,040
(Reference:Consolidated basis) (Million yen) (Million yen) (Million yen)
Consolidated sales 238,199 245,467 (-) 7,268
Consolidated ordinary income 2,338 5,029 (-) 2,691
Consolidated interim net income 3,147 4,407 (-) 1,260