Consolidated Balance Sheets

Calsonic Kansei Corporation and Consolidated Subsidiaries

March 31, 2008 and 2007

Thousands of Thousands of
U.S. dollars U.S. dollars
Millions of yen (Note 3) Millions of yen (Note 3)

2007 2006 2007 2007 2006 2007

Assets As of Mar. 31, 2008 Mar. 31, 2007 Mar. 31, 2008 Liabilities and Net Assets As of Mar. 31, 2008 Mar. 31, 2007 Mar. 31, 2008
Current assets: Current liabilities:
Cash on hand and in banks (Note 10)..................................................................... ¥   21,826 ¥   16,117 $   218,260 Current portion of long-term debt (Note 7)............................................................... ¥    369 ¥   2,231 $    3,690
Trade receivables: Short-term borrowings (Note 6).............................................................................. 32,068 16,014 320,680
Notes and accounts........................................................................................... 82,271 95,105 822,710 Trade payables:
Nissan Motor Co., Ltd......................................................................................... 57,257 38,367 572,570 Notes and accounts........................................................................................... 135,023 130,869 1,350,230
Unconsolidated subsidiaries and affiliates............................................................. 193 435 1,930 Unconsolidated subsidiaries and affiliates............................................................. 2,047 2,198 20,470
139,721 133,907 1,397,210 137,070 133,067 1,370,700
Allowance for doubtful accounts................................................................................ (341) (157) (3,410) Income taxes payable (Note 11).............................................................................. 2,216 4,531 22,160
Total trade receivables, net.............................................................................. 139,380 133,750 1,393,800 Accrued expenses................................................................................................. 25,264 22,803 252,640
Inventories (Note 5).................................................................................................... 41,091 38,636 410,910 Other current liabilities............................................................................................ 15,277 16,378 152,770
Deferred income taxes (Note 11)................................................................................ 7,789 6,487 77,890 Total current liabilities....................................................................................... 212,264 195,024 2,122,640
Other current assets.................................................................................................. 21,820 25,071 218,200 Long-term liabilities:
Total current assets......................................................................................... 231,906 220,061 2,319,060 Long-term debt (Note 7)......................................................................................... 880 1,251 8,800
Accrued retirement benefits:
For employees (Note 13)..................................................................................... 14,552 21,032 145,520
For directors and corporate auditors.................................................................... 667 474 6,670
Accrued warranty costs......................................................................................... 3,555 4,131 35,550
Property, plant and equipment, at cost:
Deferred income taxes (Note 11)............................................................................. 1,883 1,815 18,830
Land...................................................................................................................... 17,998 18,183 179,980
Other long-term liabilities......................................................................................... 2,096 3,128 20,960
Buildings and structures......................................................................................... 80,913 83,639 809,130
Total long-term liabilities................................................................................... 23,633 31,831 236,330
Machinery and equipment...................................................................................... 211,967 219,046 2,119,670
Net assets (Note 8):
Other..................................................................................................................... 114,351 111,270 1,143,510
Common stock:
Construction in progress........................................................................................ 14,653 7,118 146,530
Authorized—600,000,000 shares
439,882 439,256 4,398,820
Issued —273,241,631 shares in 2007 and 273,235,619 shares in 2006........... 41,455 41,454 414,550
Accumulated depreciation...................................................................................... (286,536) (288,287) (2,865,360)
Capital surplus....................................................................................................... 59,638 59,638 596,380
Total property, plant and equipment, net (Note 7)............................................. 153,346 150,969 1,533,460
Retained earnings.................................................................................................. 86,394 85,596 863,940
Treasury stock—5,202,368 shares in 2007 and 5,174,148 shares in 2006................ (3,727) (3,715) (37,270)
Total shareholders’ equity................................................................................. 183,760 182,973 1,837,600
Net unrealized gains on securities........................................................................... 53 129 530
Investments and other assets: Land revaluation of foreign subsidiaries................................................................... 293 293 2,930
Investments in securities (Note 4)............................................................................ 755 4,380 7,550 Unfunded retirement benefit obligation of foreign subsidiaries................................... (4,019) (6,052) (40,190)
Investments in affiliated companies......................................................................... 9,458 10,358 94,580 Foreign currency translation adjustments................................................................. (6,945) (3,634) (69,450)
Deferred income taxes (Note 11)............................................................................. 16,002 20,505 160,020 Total valuation, translation adjustments and others............................................ (10,618) (9,264) (106,180)
Other..................................................................................................................... 10,304 8,300 103,040 Minority interests.................................................................................................... 12,732 14,009 127,320
Total investments and other assets............................................................................ 36,519 43,543 365,190 Total net assets............................................................................................... 185,874 187,718 1,858,740
Commitments and contingencies (Note 9)
Total assets.................................................................................................... ¥ 421,771 ¥ 414,573 $ 4,217,710 Total liabilities and net assets............................................................................ ¥421,771 ¥414,573 $4,217,710
See notes to consolidated financial statements See notes to consolidated financial statements

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 Consolidated Balance Sheets
Calsonic Kansei Corporation and Consolidated Subsidiaries
March 31, 2008 and 2007

Thousands of Thousands of
U.S. dollars U.S. dollars
Millions of yen (Note 3) Millions of yen (Note 3)

2007 2006 2007 2007 2006 2007

Assets As of Mar. 31, 2008 Mar. 31, 2007 Mar. 31, 2008 Liabilities and Net Assets As of Mar. 31, 2008 Mar. 31, 2007 Mar. 31, 2008
Current assets: Current liabilities:
Cash on hand and in banks (Note 10)..................................................................... ¥   21,826 ¥   16,117 $   218,260 Current portion of long-term debt (Note 7)............................................................... ¥    369 ¥   2,231 $    3,690
Trade receivables: Short-term borrowings (Note 6).............................................................................. 32,068 16,014 320,680
Notes and accounts........................................................................................... 82,271 95,105 822,710 Trade payables:
Nissan Motor Co., Ltd......................................................................................... 57,257 38,367 572,570 Notes and accounts........................................................................................... 135,023 130,869 1,350,230
Unconsolidated subsidiaries and affiliates............................................................. 193 435 1,930 Unconsolidated subsidiaries and affiliates............................................................. 2,047 2,198 20,470
139,721 133,907 1,397,210 137,070 133,067 1,370,700
Allowance for doubtful accounts................................................................................ (341) (157) (3,410) Income taxes payable (Note 11).............................................................................. 2,216 4,531 22,160
Total trade receivables, net.............................................................................. 139,380 133,750 1,393,800 Accrued expenses................................................................................................. 25,264 22,803 252,640
Inventories (Note 5).................................................................................................... 41,091 38,636 410,910 Other current liabilities............................................................................................ 15,277 16,378 152,770
Deferred income taxes (Note 11)................................................................................ 7,789 6,487 77,890 Total current liabilities....................................................................................... 212,264 195,024 2,122,640
Other current assets.................................................................................................. 21,820 25,071 218,200 Long-term liabilities:
Total current assets......................................................................................... 231,906 220,061 2,319,060 Long-term debt (Note 7)......................................................................................... 880 1,251 8,800
Accrued retirement benefits:
For employees (Note 13)..................................................................................... 14,552 21,032 145,520
For directors and corporate auditors.................................................................... 667 474 6,670
Accrued warranty costs......................................................................................... 3,555 4,131 35,550
Property, plant and equipment, at cost:
Deferred income taxes (Note 11)............................................................................. 1,883 1,815 18,830
Land...................................................................................................................... 17,998 18,183 179,980
Other long-term liabilities......................................................................................... 2,096 3,128 20,960
Buildings and structures......................................................................................... 80,913 83,639 809,130
Total long-term liabilities................................................................................... 23,633 31,831 236,330
Machinery and equipment...................................................................................... 211,967 219,046 2,119,670
Net assets (Note 8):
Other..................................................................................................................... 114,351 111,270 1,143,510
Common stock:
Construction in progress........................................................................................ 14,653 7,118 146,530
Authorized—600,000,000 shares
439,882 439,256 4,398,820
Issued —273,241,631 shares in 2007 and 273,235,619 shares in 2006........... 41,455 41,454 414,550
Accumulated depreciation...................................................................................... (286,536) (288,287) (2,865,360)
Capital surplus....................................................................................................... 59,638 59,638 596,380
Total property, plant and equipment, net (Note 7)............................................. 153,346 150,969 1,533,460
Retained earnings.................................................................................................. 86,394 85,596 863,940
Treasury stock—5,202,368 shares in 2007 and 5,174,148 shares in 2006................ (3,727) (3,715) (37,270)
Total shareholders’ equity................................................................................. 183,760 182,973 1,837,600
Net unrealized gains on securities........................................................................... 53 129 530
Investments and other assets: Land revaluation of foreign subsidiaries................................................................... 293 293 2,930
Investments in securities (Note 4)............................................................................ 755 4,380 7,550 Unfunded retirement benefit obligation of foreign subsidiaries................................... (4,019) (6,052) (40,190)
Investments in affiliated companies......................................................................... 9,458 10,358 94,580 Foreign currency translation adjustments................................................................. (6,945) (3,634) (69,450)
Deferred income taxes (Note 11)............................................................................. 16,002 20,505 160,020 Total valuation, translation adjustments and others............................................ (10,618) (9,264) (106,180)
Other..................................................................................................................... 10,304 8,300 103,040 Minority interests.................................................................................................... 12,732 14,009 127,320
Total investments and other assets............................................................................ 36,519 43,543 365,190 Total net assets............................................................................................... 185,874 187,718 1,858,740
Commitments and contingencies (Note 9)
Total assets.................................................................................................... ¥ 421,771 ¥ 414,573 $ 4,217,710 Total liabilities and net assets............................................................................ ¥421,771 ¥414,573 $4,217,710
See notes to consolidated financial statements See notes to consolidated financial statements

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