The Kyoto Hotel Balance Sheet

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2011	FY 2010	FY 2009	FY 2008	FY 2007
Period Ending	Dec '11 Dec 31, 2011	Dec '10 Dec 31, 2010	Dec '09 Dec 31, 2009	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007
Cash & Equivalents	731	1,104	1,181	1,362	1,641
Short-Term Investments	-	-	-	15.6	5
Cash & Short-Term Investments	731	1,104	1,181	1,377	1,646
Cash Growth	-33.79%	-6.54%	-14.25%	-16.33%	15.69%
Receivables	460	476	474.23	517.58	541.06
Inventory	90	88	95.91	101.18	111.35
Other Current Assets	308	46	63.11	52.5	56
Total Current Assets	1,623	1,753	1,853	2,078	2,390
Property, Plant & Equipment	17,836	18,238	18,761	19,398	19,889
Long-Term Investments	299	191	130.68	152.21	198.55
Other Intangible Assets	77	110	139.17	36.69	35.4
Long-Term Deferred Tax Assets	26	49	59.12	52.68	47.56
Other Long-Term Assets	2	2	97.36	126.6	171.33
Total Assets	19,863	20,343	21,041	21,844	22,732
Accounts Payable	250	245	788.71	886.86	902
Short-Term Debt	1,817	2,097	2,177	2,257	2,327
Current Portion of Long-Term Debt	780	13,455	630.8	605.8	590.8
Current Portion of Leases	55	53	49.3	-	-
Current Income Taxes Payable	530	735	43.31	58.96	155.01
Other Current Liabilities	457	460	443.14	478.99	495.41
Total Current Liabilities	3,889	17,045	4,132	4,288	4,470
Long-Term Debt	12,925	-	13,519	14,224	14,914
Long-Term Leases	73	123	158.55	-	-
Pension & Post-Retirement Benefits	101	111	128.67	179.85	229.38
Other Long-Term Liabilities	968	1,101	1,199	1,298	1,414
Total Liabilities	17,956	18,380	19,137	19,990	21,028
Common Stock	950	950	950	950	950
Additional Paid-In Capital	209	209	209.36	209.36	209.36
Retained Earnings	775	848	787.34	723.08	541.57
Treasury Stock	-24	-24	-23.7	-22.48	-17.77
Comprehensive Income & Other	-3	-20	-18.98	-6.18	21.35
Shareholders' Equity	1,907	1,963	1,904	1,854	1,705
Total Liabilities & Equity	19,863	20,343	21,041	21,844	22,732
Total Debt	15,650	15,728	16,535	17,087	17,831
Net Cash (Debt)	-14,919	-14,624	-15,354	-15,710	-16,185
Net Cash Per Share	-1451.14	-1422.22	-1493.02	-1526.54	-1571.95
Filing Date Shares Outstanding	10.28	10.28	10.28	10.29	10.29
Total Common Shares Outstanding	10.28	10.28	10.28	10.29	10.29
Working Capital	-2,266	-15,292	-2,279	-2,210	-2,080
Book Value Per Share	185.50	190.93	185.17	180.24	165.59
Tangible Book Value	1,830	1,853	1,765	1,817	1,669
Tangible Book Value Per Share	178.01	180.23	171.63	176.67	162.15
Land	-	-	5,050	5,050	5,050
Buildings	-	-	-	-	18,124
Machinery	-	-	-	-	2,417
Construction In Progress	-	-	-	69.37	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.