title
  Three years in the period ended March 31, 2001
  Millions of Yen Thousands of U.S. Dollars(Note 1)
  2001 2000 1999 2001
Operating Revenues (Note 8) 786,833 743,911 705,591 $6,345,427
Operating Costs and Expenses (Note 8):  
   Operating costs 742,574 705,624 668,904 5,988,500
   Selling, general and administrative 5,711 5,334 5,566 46,056
    Total operating costs and expenses 748,285 710,958 674,470 6,034,556
    Operating income 38,548 32,953 31,121 310,871
 
Other Expenses (Income):  
   Interest and dividend income (968) (996) (1,378) (7,807)
   Interest expense 2,461 3,196 3,442 19,847
   Loss on sales of marketable and investment securities 6,195 4,219 2,881 49,960
   Bond issuance costs 48 48 77 387
   Provision for retirement benefits (Note 2. g) 44,426 - - 358,274
   Other-net 234 (1,840) (1,755) 1,887
    Other expenses-net 52,396 4,627 3,267 422,548
 
Income (Loss) before Income Taxes (13,848) 28,326 27,854 (111,677)
 
Income Taxes (Note 6):  
   Current 20,431 15,398 14,621 164,766
   Deferred (24,326) (2,183) - (196,177)
    Total (3,895) 13,215 14,621 (31,411)
 
Net Income (Loss) (9,953) 15,111 13,233 $(80,266)
 
Per Share of Common Stock (Note 2. m): Yen U.S.Dollars
   Net income (loss) (22.03) 34.12 31.51 $(0.18)
   Diluted net income - 32.59 29.08 -
   Cash dividends 14.00 14.00 14.00 0.11

See notes to consolidated financial statements.