Osaka Gas investment

Osaka Gas Co. will invest 313.5 billion yen (USD 2.66 billion) in capital investment over three years starting in fiscal 2003, with particular emphasis on growth sectors, including electric power generation. The plan’s average annual investment of 104.5 billion yen is about 27% more than the company’s estimated 82.1 billion yen in capital investment for
fiscal 2002. Over the three-year period, the firm aims to invest 197 billion yen in
renovating existing facilities, and another 116.5 billion yen in other energy
businesses such as electric power and natural gas. In addition, the medium-term
business plan earmarks 120 billion yen for investment in business expansion
through mergers and acquisitions.

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