Oki Announced Revised Earnings Projections and
Revised Dividends Projectionsfor Fiscal Year ending March 31, 2002
Tokyo, Japan, February 1, 2002 -- Oki Electric Industry Co., Ltd. announced today that the company revised its earnings projections for the fiscal year ending March 31, 2002, which was announced on October 30, 2001. The company also revised the projections of dividends per share for the same fiscal year.
1. Revised P/L Projections for FY ending March 31, 2002 (Consolidated)
| (April 1, 2001 - March 31, 2002)
|
| [Million yen, %] |
| |
Net sales |
Operating income (loss) |
Net income (loss) |
Previously announced
projections (A)
(Oct. 30, 2001) |
700,000 |
15,000 |
(8,500) |
| Revised projections (B) |
630,000 |
(28,000) |
(33,000) |
| Changes (B-A) |
(70,000) |
(43,000) |
(24,500) |
| % of changes |
(10.0) |
- |
- |
Financial result of
previous fiscal year
(Fiscal year ended Mar. 31, 2001)
|
740,250 |
28,314 |
8,944 |
2. Revised P/L Projections for FY ending March 31, 2002 (Non-consolidated)
| (April 1, 2001 - March 31, 2002)
|
| [Million yen, %] |
| |
Net sales |
Operating income (loss) |
Net income (loss) |
Previously announced
projections (A)
(Oct. 30, 2001) |
485,000 |
8,500 |
(5,500) |
| Revised projections (B) |
415,000 |
(32,500) |
(38,000) |
| Changes (B-A) |
(70,000) |
(41,000) |
(32,500) |
| % of changes |
(14.4) |
- |
- |
Financial result of
previous fiscal year
(Fiscal year ended Mar. 31, 2001)
|
534,452 |
23,566 |
11,892 |
< Appendix >
3. Reasons for revisions in earnings projections for FY ending March 31, 2002
The business environment surrounding the Oki group is getting more severe, due to the continuing sluggish state of the economies of Japan, Europe, and the United States after the terrorist attacks on the US, the depressed domestic IT and semiconductor markets, and sharp price decreases due to deflation, among other factors. Within this context of business conditions worsening beyond expectations, the financial result for the fiscal year ending March 31, 2002 has been revised as shown.
Non-consolidated projections include approximately 15 billion yen of write-down losses of investments to certain subsidiaries. As for investments in marketable securities, the above projections (both consolidated and non-consolidated basis) include the write-down losses incurred in the interim period ended September 30, 2001. Additional write-down losses may occur according to the further decrease of market prices of the securities at the fiscal year end, although such additional losses are not included in the above projections.
4. Revised Dividends Projections for FY ending March 31, 2002
| |
First half |
Second half |
Total year |
Previously announced projections
(Oct. 30, 2001) |
0.00 |
not determined |
not determined |
| Revised projections |
0.00 |
0.00 |
0.00 |
(Reference)
Dividends per share
in the previous fiscal year |
0.00 |
5.00 |
5.00 |
Note: Please note that the projections, prospects, and targets mentioned above are based on current conditions in the business environment, and that actual results might differ, depending on future developments.
Press Contact:
Public Relations Division
Phone: +81-3-3580-8950 |
|
