Revision of operating results forecast
27 Aprile 2009 - 10:10AM
UK Regulatory
TIDMMAW
RNS Number : 1919R
Maruwa Co Ld
27 April 2009
27 April 2009
MARUWA CO., LTD.
3-83 Minamihonjigahara-cho, Owariasahi-city, Aichi-pref. 488-0044 JAPAN
(Translation)
Notice regarding the revision of operating results forecast for fiscal 2009
MARUWA CO., LTD. ("MARUWA") announced that the operating results forecast for
fiscal 2009 (1 April 2008 - 31 March 2009) announced on 5 February 2009 were
revised as follows;
1. Revised consolidated operating results forecast for Fiscal 2009 (1 April 2008
- 31 March 2009)
(Millions of yen)
+------------------+-------------+----------------+----------------+----------------+
| | Net sales | Operating | Net income | Net income |
| | | income (loss) | (loss) | (loss) |
| | | | | per share |
| | | | | (yen) |
+------------------+-------------+----------------+----------------+----------------+
| Previously | 17,200 | 622 | 479 | 44.68 |
| announced | | | | |
| forecast (A) | | | | |
+------------------+-------------+----------------+----------------+----------------+
| Revised forecast | 16,700 | (510) | (750) | (69.96) |
| (B) | | | | |
+------------------+-------------+----------------+----------------+----------------+
| Change (B - A) | (500) | (1,132) | (1,229) | - |
+------------------+-------------+----------------+----------------+----------------+
| Change (%) | -2.9% | - | - | - |
+------------------+-------------+----------------+----------------+----------------+
| Previous fiscal | 20,635 | 1,576 | 1,100 | 101.80 |
| year ended 31 | | | | |
| March 2008 | | | | |
+------------------+-------------+----------------+----------------+----------------+
| Change from | -19.1% | - | - | - |
| previous fiscal | | | | |
| year (%) | | | | |
+------------------+-------------+----------------+----------------+----------------+
2. Reasons for revision
We expect our consolidated net sales will be as much as previously forecast on 5
February 2009.
As for operating income, we expect it will significantly decrease from the
previously forecast figures. In an uncertain economy, we revaluated all of our
assets to strengthen our financial condition so that we can swiftly respond to
severe changes in the markets; for example, we strictly evaluated inventories,
down 750 million yen. As stated above, such positive measures more than
previously planned will help to improve our profitability in the future.
Also, as for extraordinary losses, we include expenses for voluntary retirement
scheme to adjust for order decrease, 190 million yen, and as a part of the
business structure-enforcement project, we accounted for expenses to transfer
manufacturing from Hokko Denshi Co., Ltd., which we bought 2 years ago, all
losses caused by the closing of 2 factories of MARUWA QUARTZ Co., Ltd., a
manufacturing subsidiary, expenses for consolidation of sales offices of our
group, and other expenses, totaled 140 million yen.
In addition, we expect deferred income tax assets to decrease due to revaluation
with a downturn in business by 220 million yen.
Meanwhile, we will maintain year-end dividend payment as announced on 9 May
2008, 14 yen per share.
*Inventories as of the end of fiscal year
+---------------------+--------------------+
| Fiscal 2008 | Fiscal 2009 |
| (31 March 2008) | (31 March 2009) |
+---------------------+--------------------+
| 4,140 million yen | 3,070 million yen |
+---------------------+--------------------+
[Reference]
Sales forecast by business segment
(Millions of yen)
+------------------+---------------+----------------+----------------+--------------+
| | Fiscal 2009 ending 31 March 2009 | Fiscal 2008 |
| | | ended 31 |
| | | March 2008 |
| | | Results |
+------------------+-------------------------------------------------+ +
| | Previously | | Revised | Change rate |
| | announced | | forecast | (%) |
| | forecast | | | |
+------------------+---------------+--------------+----------------+----------------+
| Ceramic | 15,920 | 14,910 | -6.3% | 18,479 |
| components | | | | |
+------------------+---------------+----------------+----------------+--------------+
| Lighting | 1,280 | 1,790 | 39.8% | 2,156 |
| equipment | | | | |
+------------------+---------------+----------------+----------------+--------------+
| Net sales | 17,200 | 16,700 | -2.9% | 20,635 |
+------------------+---------------+----------------+----------------+--------------+
*The forecasts stated above are based on currently available information as of
the date of announcement. Actual results may differ from these forecasts due to
various factors.
END
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The company news service from the London Stock Exchange
END
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