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Toyobo Co., Ltd. ("Toyobo"), in view of recent earning trends, has revised downward its forecasts.
1. Revision of Forecasts
(1) Consolidated Forecasts
Six months ended September 30, 2009
| |
Millions of Yen |
Yen |
| Net Sales |
Operating
Income |
Ordinary
Income |
Net Income |
Net Income per Share |
Previous Forecast (A)
(Announced on May 7, 2009) |
164,000 |
4,800 |
1,800 |
0 |
0 |
| Revised Forecast (B) |
155,000 |
3,000 |
1,250 |
(550) |
(0.78) |
| Change (B-A) |
(9,000) |
(1,800) |
(550) |
(550) |
|
| Percent Change (%) |
(5.5) |
(37.5) |
(30.6) |
--- |
|
<Reference>
Six months ended
September 30, 2008 |
202,471 |
9,690 |
6,762 |
(5,605) |
(8.03) |
(2) Consolidated Forecasts
Year ending March 31, 2010
| |
Millions of Yen |
Yen |
| Net Sales |
Operating
Income |
Ordinary
Income |
Net Income |
Net Income per Share |
Previous Forecast (A)
(Announced on May 7, 2009) |
340,000 |
14,000 |
8,000 |
3,000 |
4.30 |
| Revised Forecast (B) |
325,000 |
12,000 |
7,500 |
2,500 |
3.43 |
| Change (B-A) |
(15,000) |
(2,000) |
(500) |
(500) |
|
| Percent Change (%) |
(4.4) |
(14.3) |
(6.3) |
(16.7) |
|
<Reference>
Year ended
March 31, 2009 |
367,271 |
11,229 |
2,059 |
(12,505) |
(17.92) |
(3) Reasons for Revision
Toyobo would gain strong recovery of net sales and earnings in the second quarter of the fiscal year ending March 31, 2010. However, it would not recover operating loss of the first quarter. Toyobo expects net sales and earnings in the first half and the full year to be smaller than previous estimates and has revised its forecasts accordingly.
In the first quarter, net sales and earnings were affected by the inventory adjustments among the automotive field, and suffered from the depressed prices in industrial films. However, Toyobo would surge earnings in the second quarter as shown below. This recovery is due to cost savings as well as the expansion of sales in the automotive and LCD materials fields.
(Millions of Yen)
| |
Net Sales |
Operating
Income |
Ordinary
Income |
Net Income |
Forecast
(Three months ended September 30, 2009) |
82,000 |
3,700 |
2,700 |
1,000 |
| Note: |
Forecasts have been prepared which are based on information available at the time of the release of this report. Actual results may vary from forecasts for a variety of reasons. |
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