Note 1-22

(22) The rate of decline of stock prices in 1990 was bigger than in and after 1991. Stock valuations increased sharply in 1999 but decreased considerably in 2000. In terms of TOPIX, it was 2,881 at the end of 1989 (figures after the decimal point are to be omitted hereinafter) -> 1,733 at the end of 1990 -> 1,086 at the end of 1998 -> 1,722 at the end of 1999 -> 1,283 at the end of 2000.