09:19     MITSUMARU HOLD<02358> - Results Announcement (1)                    

    Mitsumaru East Kit (Holdings) Limited announced on 27/04/2005:            
    (stock code: 02358 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2004    from 01/01/2003   
                                         to 31/12/2004      to 31/12/2003     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 618,413            624,057           
    Profit/(Loss) from Operations      : 12,006             74,522            
    Finance cost                       : (4,506)            (3,581)           
    Share of Profit/(Loss) of                                                 
      Associates                       : N/A                N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 10,007             64,732            
    % Change over Last Period          : -84.5     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.0289             0.2160            
             -Diluted (in dollars)     : 0.0288             N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 10,007             64,732            
    Final Dividend                     : $0.0075            NIL               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 23/05/2005         to 31/05/2005 bdi.
    Payable Date                       : 15/06/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 23/05/2005         to 31/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      GROUP REORGANISATION AND BASIS OF PRESENTATION AND CONSOLIDATION  
                                                                              
    Group reorganisation                                                      
    The Company was incorporated as an exempted company with limited          
    liability in the Cayman Islands on 30 January 2004 under the Companies    
    Law, Cap.22 (Law 3 of 1961, as consolidated and revised) of the Cayman    
    Islands.                                                                  
                                                                              
    Pursuant to a reorganisation scheme (the "Group Reorganisation") to       
    rationalise the structure of the Group in preparation for the listing of  
    the Company's shares on the Main Board of The Stock Exchange of Hong Kong 
    Limited (the "Stock Exchange") on 15 July 2004, the Company became the    
    holding company of the companies now comprising the Group on 22 June 2004.
     This was accomplished by acquiring the entire issued share capital of    
    Mitsumaru East Kit (Group) Limited (the "Mitsumaru EK Group"), which is in
    consideration of and in exchange for (i) the crediting as fully paid at   
    par the 10 nil paid shares in the issued share capital of the Company held
    by Z-Idea Company Limited ("Z-Idea"), Good Day International Limited ("   
    Good Day"), and T-Square Company Limited ("T-Square"); and (ii) the       
    allotment and issue by the Company an aggregate of 99,990 shares of HK$0. 
    10 each, credited as fully paid, to Z-Idea, Good Day and T-Square in      
    proportion to their respective shareholding in the Mitsumaru EK Group.    
                                                                              
    Further details of the Group Reorganisation are set out in the Company's  
    prospectus dated 30 June 2004.                                            
                                                                              
    On 15 July 2004, the Company completed its initial public offering and the
    shares of the Company were listed on the Main Board of the Stock Exchange 
    on the same date.                                                         
                                                                              
    Basis of presentation and consolidation                                   
    The consolidated financial statements have been prepared using the        
    merger basis of accounting as a result of the completion of the Group     
    Reorganisation.  On this basis, the Company has been treated as the       
    holding company of its subsidiaries for the financial years presented,    
    rather than from the date of its acquisition of subsidiaries on 22 June   
    2004.  Accordingly, the consolidated financial statements of the Group for
    the years ended 31 December 2003 and 2004 include the results of the      
    Company and its subsidiaries with effect from 1 January 2003 or since     
    their respective dates of incorporation, where this is a shorter period.  
    The comparative combined balance sheet as at 31 December 2003 has been    
    prepared on the basis as if the Group had been in existence at that date.