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1 avex group holdings inc. 22nd Semiannual Business Report ' '

2 Dear Our Shareholders 02

3 History of avex 22nd Semiannual Business Report H i s t o r y o f a v e x 03

4 Semiannual Financial Highlights Semiannual Financial Highlights 56,323 41,437 45,545 3,075 2,054 1,

5 22nd Semiannual Business Report 45,819 47,387 40,117 38,078 56,305 55,965 29,194 32,830 35,004 35,058 69,312 70,909 1,236 1,095 20,064 19,811 32,223 31,832 4,229 4,229 5,001 5,001 28,460 28,070 5,468 5, ,812 32, , , , ,352 98, , ,318 31,137 32,100 32, , , , , ,416 10,093 12,509 Semiannual F i n a n c i a l H i g h l i g h t s 05

6 Management Artists M a n a g e m e n t Ar t i s t s T h e F a c e s 06

7 Management Talents 22nd Semiannual Business Report M a n a g e m e n t Ta l e n t s T h e F a c e s Talents Sports & Culture 07

8 Release Artists R e l e a s e A r t i s t s T h e F a c e s 08

9 22nd Semiannual Business Report 09

10 Release Artists 10

11 22nd Semiannual Business Report 11

12 Release Artists 12

13 22nd Semiannual Business Report 13

14 Visual Works V i s u a l Wor ks L i n e U p 14

15 News & Topics 22nd Semiannual Business Report News & T o p i c s 15

16 16 News & Topics

17 Outline of the Company 22nd Semiannual Business Report O u t l i n e o f t h e Co m p a n y 17

18 Stock Data S t o c k D a t a 18

19 Stockholder Memo 22nd Semiannual Business Report Stockholder Memo http:// ART DIRECTOR & DESIGNER Masaki Maekawa Design Office EDITOR AVEX PLANNING & DEVELOPMENT INC. PRINTING DIRECTOR TAKARA PRINTING CO.,LTD. AVEX GROUP HOLDINGS INC. 19

20 avex group holdings inc. 22nd Semiannual Business Report ' ' avex marketing AVEX GROUP HOLDINGS INC. avex bldg., Minami-Aoyama, Minato-ku, Tokyo Japan URL

01 Dear Our Shareholders

01 Dear Our Shareholders avex group holdings inc. 21st Semiannual Business Report '07.04.01- '07.09.30 エイベックス グループ ホールディングス株式会社 第21期 中間報告書 自 平成 19 年 4 月 1 日 至 平成 19 年 9 月 30日 01 Dear Our Shareholders 02 Dear Our Shareholders 21th

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