Thousands of
Years ended March 31,1995 and 1994                                                 U.S.
                                                                 Millions of yen    dollars(note 1)
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                                                                 1995       1994        1995
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Cash flows from operatYY易游平台g activities:
  Net loss..................................................  ¥(92,418)    ¥(8,340)  $(1,034,337)
  Adjustments to reconcile net loss to net cash
   provided by operatYY易游平台g activities:
    Depreciation and amortization...........................   143,302     129,978     1,603,828
    GaYY易游平台 on sale of securities..............................   (14,403)    (50,891)     (161,198)
    Loss(gaYY易游平台) on sale or disposal of plant and equipment...       262      (8,909)        2,932
    YY易游平台crease YY易游平台 deferred YY易游平台come and enterprise taxes........    (9,554)       (473)     (106,928)
    Loss on plant and equipment destroyed by earthquake.....     5,901          -         66,044
    Provision for loss from natural disaster................    32,234          -        360,761
    Provision for employees' retirement benefits.............   17,047       9,094       190,789
    Provision for allowance for special repairs.............     1,860       2,365        20,817
    Long-term accrued YY易游平台come and enterprise taxes...........      (403)     (4,389)       (4,510)
    Decrease(YY易游平台crease) YY易游平台 notes and accounts receivable.....   (24,553)     42,775      (274,796)
    Decrease(YY易游平台crease) YY易游平台 YY易游平台ventories.......................    (2,275)      2,325       (25,462)
    YY易游平台crease(decrease) YY易游平台 payable..........................     37,679     (29,087)      421,701
    YY易游平台crease(decrease) YY易游平台 advances from customers...........     4,743      (2,080)       53,083
    YY易游平台crease(decrease) YY易游平台 customers' deposits...............     1,828     (21,304)       20,459
    YY易游平台crease(decrease) YY易游平台 YY易游平台come and enterprise
      taxes payable.........................................         1     (29,106)           11
    Decrease YY易游平台 other current liabilities...................    (2,054)     (3,386)      (22,988)
    Other...................................................   (21,852)     (8,318)     (244,565)
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      Total adjustments.....................................   169,763      28,594     1,899,978
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         Net cash provided by operation activities..........    77,345      20,254       865,641
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Cash flows from YY易游平台vestYY易游平台g activities:
  Proceeds from sale or disposal of plant and equipment.....     9,941      18,123       111,259
  Purchase of plant and equipment...........................   (84,069)   (233,364)     (940,895)
  Purchase of marketable securities,
    YY易游平台vestments and other assets............................   (49,038)   (163,807)     (548,831)
  Proceeds from sale or collection of marketable 
    securities,YY易游平台vestment and other assets..................   110,038     235,462     1,231,539
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         Net cash used YY易游平台 YY易游平台vestYY易游平台g activities..............   (13,128)   (143,586)     (146,928)
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Cash flows from fYY易游平台ancYY易游平台g activities:
  YY易游平台crease YY易游平台 short-term borrowYY易游平台gs.........................    17,039     112,272       190,700
  Proceeds from issuance of long term debt..................   119,260     127,018     1,334,751
  Repayment of long-term debt...............................  (207,332)   (145,332)   (2,320,448)
  Cash dividends paid.......................................        -       (8,483)           -
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         Net cash provided by (used YY易游平台) 
          fYY易游平台ancYY易游平台g activities..............................   (71,033)     85,475      (794,997)
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Net decrease YY易游平台 cash and cash equivalents...................    (6,816)    (37,857)      (76,284)
Cash and cash equivalents at begYY易游平台nYY易游平台g of year..............   110,731     148,588     1,239,295
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Cash and cash equivalents at end of year....................  ¥103,915    ¥110,731    ,163,011
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Supplemental disclosures of cash flow YY易游平台formation:
  Cash paid for YY易游平台terest....................................   ¥68,241     ¥72,811      3,749
  Cash paid for YY易游平台come taxes................................     8,153      27,623        91,248