Consolidated Statements of Changes in Net Assets Toagosei Co., Ltd. and Consolidated Subsidiaries Millions of yen Thousands of U.S. dollars (Note 3) Years ended December 31, 2010 2009 2010 Valuation and translation adjustments Unrealized holding gain on securities Balance at previous year-end............................................................................................................................ \ 1,469 \ 1,047 $ 18,036 Changes during year: Net changes in items other than shareholders’ equity............................................................... 29 422 360 Total changes during year........................................................................................................................... 29 422 360 Balance at end of year............................................................................................................................................ \ 1,499 \ 1,469 $ 18,397 Unrealized gain on hedging derivatives Balance at previous year-end............................................................................................................................ \ . \ 0 $ . Changes during year: Net changes in items other than shareholders’ equity............................................................... . (0) . Total changes during year........................................................................................................................... . (0) . Balance at end of year............................................................................................................................................ \ . \ . $ . Translation adjustments Balance at previous year-end............................................................................................................................ \ (725) \ (775) $ (8,897) Changes during year: Net changes in items other than shareholders’ equity............................................................... (642) 50 (7,884) Total changes during year........................................................................................................................... (642) 50 (7,884) Balance at end of year............................................................................................................................................ \ (1,367) \ (725) $ (16,781) Total valuation and translation adjustments Balance at previous year-end............................................................................................................................ \ 744 \ 272 $ 9,139 Changes during year: Net changes in items other than shareholders’ equity............................................................... (613) 472 (7,523) Total changes during year........................................................................................................................... (613) 472 (7,523) Balance at end of year............................................................................................................................................ \ 131 \ 744 $ 1,615 Minority interests Balance at previous year-end............................................................................................................................ \ 14,250 \ 13,776 $ 174,878 Changes during year: Net changes in items other than shareholders’ equity............................................................... 493 473 6,051 Total changes during year........................................................................................................................... 493 473 6,051 Balance at end of year............................................................................................................................................ \ 14,743 \ 14,250 $ 180,930 Total net assets Balance at previous year-end............................................................................................................................ \113,700 \113,048 $1,395,267 Changes during year: Cash dividends.................................................................................................................................................... (1,640) (1,807) (20,128) Net income............................................................................................................................................................ 13,133 3,541 161,164 Purchase of treasury stock........................................................................................................................... (53) (2,037) (658) Gain on sales of treasury stock................................................................................................................... 7 9 90 Net changes in items other than shareholders’ equity............................................................... (119) 946 (1,472) Total changes during year........................................................................................................................... 11,326 651 138,994 Balance at end of year............................................................................................................................................ \125,027 \113,700 $1,534,262 See accompanying notes to consolidated financial statements. 30 Annual Report 2010