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 Benesse Corporation today announced that it has made revisions to correct errors in certain sections of recent financial disclosures, as detailed below. More specifically, the revisions were made to the Consolidated Financial Report for Fiscal 2003, Ended March 31, 2004, and the Non-Consolidated Financial Report for Fiscal 2003, which were both released on May 12, 2004, and FY2004 First Quarter Consolidated Financial Results, announced on August 5, 2004.

Benesse today also filed a revised version of the Marketable Securities Report for Fiscal 2003 with the Kanto Finance Bureau.

Revisions
1. Consolidated Financial Report for Fiscal 2003, Ended March 31, 2004

The first page of this report shows a table of summarized consolidated financial results for fiscal 2003. In this table, net income per share of 87.65 yen and fully diluted net income per share of 87.62 yen for fiscal 2003, shown under Per Share Data, have been revised to 88.80 yen and 88.77 yen, respectively. The average number of shares outstanding for the fiscal year ended March 31, 2004, shown in Note 2, was also revised from 105,712,726 to 104,346,346.

2. Non-Consolidated Financial Report for Fiscal 2003, Ended March 31, 2004

The first page of this report shows a table of summarized non-consolidated financial results for fiscal 2003. In this table, net income per share of 76.89 yen and fully diluted net income per share of 76.86 yen for fiscal 2003, shown under Per Share Data, have been revised to 77.90 yen and 77.87 yen, respectively. The average number of shares outstanding for the fiscal year ended March 31, 2004, shown in Note 1, was also revised from 105,712,726 to 104,346,346.

3. FY2004 First Quarter Consolidated Financial Results

The first page of this report shows a table of summarized consolidated financial results for the first quarter of fiscal 2004, the three months ended June 30, 2004. In this table, net income per share of 87.65 yen and fully diluted net income per share of 87.62 yen for fiscal 2003, shown in the right-hand column under Per Share Data, have been revised to 88.80 yen and 88.77 yen, respectively.