No cutouts. This is the entire book. I used it as a TV guide, so the TV guide section has some wear and tear as shown in photos 3 and 4. The gravure section in the first half is mostly untouched, but please be aware of the above condition and that it has been stored at home, so please consider this if you are not concerned. Weekly TV Guide Kanto Edition Kis-My-Ft2 Serialized 700th Anniversary Memorial Book