KAWASAKI, Kanagawa Prefecture, Japan, April 7, 2003 - Tokyo Ohka Kogyo Co., Ltd. (TOK) announces that the Company has revised its business forecast for the fiscal year ending March 31, 2003.

1. Revision of Consolidated business forecast for the full fiscal year ending March 31, 2003 (from April 1, 2002 to March 31, 2003)

(Millions of Yen / %)

	Net Sales	Ordinary Income	Net Income
Previous Forecast (A) (*1)	71,600	4,600	2,500
Revised Forecast (B)	71,600	4,600	1,700
Difference (B)-(A)	0	0	-800
Percentage Change	-	-	-32.0
Previous Results (*2)	73,297	3,019	1,314

2. Revision of Unconsolidated business forecast for the full fiscal year ending March 31, 2003 (from April 1, 2002 to March 31, 2003)

(Millions of Yen / %)

	Net Sales	Ordinary Income	Net Income
Previous Forecast (A) (*1)	61,200	3,200	1,900
Revised Forecast (B)	61,200	3,200	1,200
Difference (B)-(A)	0	0	-700
Percentage Change	-	-	-36.8
Previous Results (*2)	63,321	1,904	861

3. Reasons for revision

The extraordinary loss on write-down (amounting to about 680 million yen) of investment securities, mainly financial institutions, is the chief reason for the revision of our anticipated Net Income.

Notes:
(*1) Previous forecast was announced at November 19, 2002.
(*2) “Previous Results” is the business results for the fiscal year ended March 31, 2002 (from April 1, 2001 to March 31, 2002)

April 7, 2003

Cautionary Statement

The forecast data are estimated at the time of release, April 7, 2003, and are the prospects of the future performance of TOK. These are based on management's assumptions and beliefs in the light of the information currently available to it, and therefore you should not place your excessive trust in them. TOK cautions you that a number of important factors could cause actual results to differ thoroughly from those discussed in the prospective statements. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, deflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance.

Contact

H. Akama (Mr.)
TEL. +81-44-435-3000
FAX. +81-44-435-3020
h-akama@tok.co.jp