RHJ International

Columbia Music Entertainment, Inc.

Headquarters : Japan
Industry : Media and Entertainment - Music Entertainment segment

Tokyo Stock Exchange ticker	6791.T
Total Shares Outstanding	260,870,117
RHJI Ownership as of March 31, 2008	25.5% (66,503,000 shares)
Contribution Price per Share (March 23, 2005)	JPY 118
Share Price on March 31, 2007	JPY 113
Share Price on March 31, 2008	JPY 60

Overview of Activities

CME (http://www.columbia.co.jp/) is engaged in music production and entertainment in Japan. Music production and entertainment is the production, marketing and distribution of music. CME seeks to capitalize on its substantial music catalog, which generates cash flow from the sale of its content and the continuous addition of content to the catalog to ensure it remains dynamic, both in the high-growth music genres such as Japanese-Pop/Rock as well as in Enka, Japanese country music.

RELATED NEWS

08 August 2008	Columbia Music Entertainment Publishes First Quarter Results for Fiscal Year Ending March 31, 2009
15 May 2008	Columbia Music Entertainment Releases Consolidated Results for the Full Fiscal Year Ending March 2008
15 February 2008	CME Issues Notice of Third Quarter Results for Fiscal Year 2007 and Revised Full-Year Forecast
16 November 2007	CME Results for First Half of Fiscal Year 2007 Ending March 2008
28 September 2007	CME Announces The Acquisition of All Shares of TDK Core Co., Ltd.

KEY FIGURES

Financial information for the Japanese companies has been translated for convenience into Euros using the exchange rate prevailing March 31, 2008 (EUR/JPY = 157.37)

change

March 31 (*)	2008	2007
Net sales	18,569	22,359
Gross profit	6,920	11,122
Gross margin	37.3%	49.7%
EBITDA	(984)	2,085
EBITDA margin	(5.3)%	9.3%
Operating profit/(loss)	(1,508)	1,649
Profit /(loss) after tax, before discontinued operations	(1,627)	1,497
Discontinued operations, net of tax	292	111
Net profit/(loss)	(1,335)	1,608
March 31	2008	2007
Cash	2,506	5,233
Financial debt	517	375

(*) Excluding the effect of the purchase price allocation carried out in connection with the contribution of the ownership intetests to RHJI at March 31, 2005.