Consolidated Statements of Shareholders’ Equity FUJI HEAVY INDUSTRIES LTD. AND CONSOLIDATED SUBSIDIARIES Years ended March 31, 2003, 2002 and 2001 Thousands Millions of yen Net unrealized Number of Additional Revaluation holding Accumulated Treasury Total shares Common paid-in reserve Retained gains on translation stock, shareholders’ issued stock capital for land earnings securities adjustment at cost equity Balance, March 31, 2000 614,553 ¥ 88,115 ¥ 94,559 ¥ — ¥ 53,129 ¥ — ¥(28,254) ¥(1,145) ¥206,404 Foreign currency translation adjustment 7,333 7,333 Retained earnings of merger of  a consolidated subsidiary 14,484 14,484 Cash dividends (6,394) (6,394) Payment of bonuses to directors  and statutory auditors (167) (167) Shares issued to GM 131,896 56,319 56,188 112,508 Shares issued upon conversion of convertible bonds 54 14 14 28 Treasury stock held by subsidiaries  newly included in consolidation (1,070) (1,070) Adoption of new accounting standard  for financial instruments 1,701 1,701 Net income 22,628 22,628 Balance, March 31, 2001 746,502 144,449 150,761 — 83,680 1,701 (20,921) (2,215) 357,455 Foreign currency translation adjustment 11,342 11,342 Retained earnings of merger of  non-consolidated subsidiaries 211 211 Cash dividends (6,694) (6,694) Payment of bonuses to directors  and statutory auditors (152) (152) Shares issued upon conversion of convertible bonds 4 1 1 2 Increase in treasury stock (12) (12) Revaluation of land 381 381 Increase in unrealized holding gains on securities 3,296 3,296 Net income 30,283 30,283 Balance, March 31, 2002 746,506 144,450 150,762 381 107,328 4,997 (9,579) (2,227) 396,112 Foreign currency translation adjustment (8,658) (8,658) Cash dividends (6,689) (6,689) Payment of bonuses to directors  and statutory auditors (161) (161) Shares issued upon conversion of convertible bonds 15 5 4 9 Increase in treasury stock (526) (526) Revaluation of land 8 8 Increase in unrealized holding gains on securities (1,551) (1,551) Comprenhensive loss (776) (776) Net income 33,484 33,484 Balance, March 31, 2003 746,521 ¥144,455 ¥150,766 ¥389 ¥133,186 ¥3,446 ¥(18,237) ¥(2,753) ¥411,252 Thousands of U.S. dollars (Note 1) Balance, March 31, 2002 $1,201,747 $1,254,260 $3,170 $892,912 $41,572 $ (79,692) $ (18,528) $3,295,441 Foreign currency translation adjustment (72,030) (72,030) Cash dividends (55,649) (55,649) Payment of bonuses to directors  and statutory auditors (1,339) (1,339) Shares issued upon conversion of convertible bonds 42 33 75 Increase in treasury stock (4,376) (4,376) Revaluation of land 66 66 Increase in unrealized holding gains on securities (12,903) (12,903) Comprehensive loss (6,456) (6,456) Net income 278,569 278,569 Balance, March 31, 2003 $1,201,789 $1,254,293 $3,236 $1,108,037 $28,669 $(151,722) $(22,904) $3,421,398 The accompanying notes are an integral part of these statements. Annual Report 2003 29