KOBE STEEL, LTD
ECOWAY

Non-Consolidated Interim Balance Sheets
At September 30, 1999 and 1998 (Unaudited)

Millions of yen

Thousands of
U.S. dollars
(Note 1)

Assets

1999

1998

1999

Current assets:
Cash and cash equivalents

68,632

45,034

641,720

Marketable securities

59,757

46,464

558,738

Notes and accounts receivable:
Trade

121,690

164,376

1,137,821

Subsidiaries and affiliates

162,976

151,351

1,523,852

Other

5,925

4,740

55,399

Allowance for doubtful accounts

(2,479)

(1,093)

(23,179)

288,112

319,374

2,693,893

Inventories:
Finished goods

46,194

57,834

431,921

Work in process

91,947

109,821

859,720

Raw materials and supplies

49,189

56,609

459,925

187,330

224,264

1,751,566

Deferred income taxes

5,097

-

47,658

Other

21,855

44,633

204,349

Total current assets

630,783

679,769

5,897,924

Investments and other assets:
Investments in securities

22,109

22,628

206,723

Investments in and advances to
subsidiaries and affiliates


241,584


212,452


2,258,850

Deferred income taxes

16,819

-

157,260

Other

47,997

50,899

448,780

Allowance for doubtful accounts

(2,961)

(3,048)

(27,686)

325,548

282,931

3,043,927

Plant and equipment:
Land

115,958

116,419

1,084,226

Buildings and structures

437,588

433,851

4,091,520

Machinery and equipment

1,478,581

1,479,443

13,824,974

Construction in progress

40,621

35,642

379,813

2,072,748

2,065,355

19,380,533

Less accumulated depreciation

1,281,171

1,263,524

11,979,158

791,577

801,831

7,401,375

Deferred assets:
Research and development expenses

-

7,689

-

1,747,908

1,772,220

16,343,226

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