May 24,2002
Shin-Kobe Electric Machinery Co., Ltd.

Consolidated

Income Statements

(Millions of yen,except per share data)

	2002	2001	% Increase (Decrease)
Net sales	58,065	64,738	(10)
Operating income	3,829	5,068	(24)
Ordinary profit	2,926	4,128	(29)
Net income	1,284	1,927	(33)
Net income (per share) (yen)	25.22	37.85	-

Net Sales by Product Category

(Millions of yen)

	2002	2001	% Increase (Decrease)
Storage Batteries, Electric Machinery & Equipment	39,205(68)	43,059 (67)	(9)
Synthetic Resin	18,859(32)	21,678 (33)	(13)

Forecast for the year ended March 31,2003

(Millions of yen)

Net sales	Ordinary income	Net income
54,000	1,900	650

April 24,2002

Non-Consolidated

Income Statements

(Millions of yen,except per share data)

	2002	2001	% Increase (Decrease)
Net sales	52,904	57,912	(9)
Operating income	3,225	4,097	(21)
Ordinary profit	2,468	3,523	(30)
Net income	1,149	1,725	(33)
Net income (per share) (yen)	22.57	33.87	-
Cash dividends declared (per share) (yen)	8	8	-

Net Sales by Product Category

(Millions of yen)

	2002	2001	% Increase (Decrease)
Storage Batteries, Electric Machinery & Equipment	36,205(68%)	39,075 (67%)	(7)
Synthetic Resin	16,699(32%)	18,836 (33%)	(11)

Forecast for the year ended March 31,2003

(Millions of yen)

Net sales	Ordinary income	Net income
48,500	1,500	560

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