| 1. |
Forecasts for business results on a consolidated basis for the term ending March 31, 2008 |
| (millions of yen) |
| |
Sales |
Operating income |
Net income |
EPS |
Previous forecast (A)
(Released Oct. 31, 2007) |
440,000 |
46,000 |
22,000 |
¥36.70 |
| Revised forecast (B) |
420,000 |
38,000 |
15,500 |
¥25.86 |
Decrease
(B-A) |
(20,000) |
(8,000) |
(6,500) |
(¥10.84) |
| Percentage change |
(4.5) |
(17.4) |
(29.5) |
(29.5) |
Figure for previous term
(to March 31, 2007) |
417,027 |
59,665 |
31,273 |
¥52.15 |
| 2. |
Forecasts of business results on a non-consolidated basis for the term ending March 31, 2008 |
 |
| |
Sales |
Operating income |
Net income |
EPS |
Previous forecast (A)
(Released Oct. 31, 2007) |
250,000 |
21,500 |
16,000 |
¥26.69 |
| Revised forecast (B) |
240,000 |
16,500 |
11,000 |
¥18.35 |
Decrease
(B-A) |
(10,000) |
(5,000) |
(5,000) |
(¥8.34) |
| Percentage change |
(4.0) |
(23.3) |
(31.3) |
(31.3) |
Figure for previous term
(to March 31, 2007) |
238,042 |
39,246 |
25,943 |
¥43.27 |
| 3. |
Reasons for revised forecasts |
|
| During the current term thus far, both the parent company and its consolidated subsidiaries have suffered a deterioration in their operating environments owing to sharper than expected rises in the price of raw materials and fuels, as well as the appreciation of the yen on the foreign exchange markets. Overall, the Company and its subsidiaries have not yet succeeded in revising their product prices to sufficiently offset the increased costs of raw materials and fuels, and this factor has had a major impact on business performance. In addition, our plastics and chemical products businesses have suffered from a decline in demand, most notably from the IT sector. This has been exacerbated by intensified competition with alternative materials produced by other companies. In the field of acrylic fibers, demand in our principal market of China has been sluggish during the current period thus far, and in carbon fibers and composite materials we anticipate an easing of the tight supply situation that has prevailed for some time. As a result of these factors, we now project figures for fiscal 2007 sales, operating income, and net income below the levels of our previous forecast. |
| For your reference (elimination of the effect of actuarial differences on performance figures): |
|
Regarding business performance for the current term (ending March 2008), the Company posted ¥2.0 billion under operating expenses for amortization of differences arising from changes in actuarial assumptions under the pension accounting system during the previous term ended March 2007.
On the assumption that the Company had recognized no differences under pension accounting, the estimates of results for the current term (on both a consolidated and non-consolidated basis) would be as shown in the following tables. |
| 1. |
Estimates of business results (consolidated basis) for the term ending March 31, 2008 excluding effect of changes in actuarial assumptions |
|
| (millions of yen) |
|
| |
Sales |
Operating income |
Net income |
EPS |
Previous forecast (A)
(Released Oct. 31, 2007)
|
440,000 |
48,000 |
23,200 |
¥38.71 |
| Revised estimate (B) |
420,000 |
40,000 |
16,700 |
¥27.86 |
Decrease
(B-A)
|
(20,000) |
(8,000) |
(6,500) |
(¥10.84) |
| Percentage change |
(4.5) |
(16.7) |
(28.0) |
(28.0) |
| 2. |
Estimates of business results (non-consolidated basis) for the term ending March 31, 2008 excluding effect of changes in actuarial assumptions |
|
| (millions of yen) |
|
| |
Sales |
Operating income |
Net income |
EPS |
Previous forecast (A)
(Released Oct. 31, 2007)
|
250,000 |
23,500 |
17,200 |
¥28.70 |
| Revised estimate (B) |
240,000 |
18,500 |
12,200 |
¥20.36 |
Decrease
(B-A)
|
(10,000) |
(5,000) |
(5,000) |
(¥8.34) |
| Percentage change |
(4.0) |
(21.3) |
(29.1) |
(29.1) |
|
|
