OKI Revises Consolidated First-half Projections for the Fiscal Year ending March 31, 2010
TOKYO, October 27, 2009 -- OKI Electric Industry Co., Ltd. (TSE:6703) today announced it has revised its consolidated earnings projections for the first half (from April 1, 2009 to Sept. 30, 2009) from its previous projections announced on May 12, 2009, in light of recent business performance.
1. Revision of consolidated first half projections for the fiscal year ending March 31, 2010
(From April 1, 2009 to September 30, 2009)
| Net sales | Operating income |
Recurring income |
Net income | Net income per share |
|
|---|---|---|---|---|---|
| billion yen | billion yen | billion yen | billion yen | yen | |
| Previous projections (A) | 190.0 | -5.0 | -8.0 | -10.5 | -15.38 |
| Revised projections (B) | 189.0 | -1.6 | -4.7 | -7.0 | -10.25 |
| Changes (B-A) | -1.0 | 3.4 | 3.3 | 3.5 | — |
| Percent change (%) | -0.5 | — | — | — | — |
| Reference: Results for the 1H, fiscal year ended March 2009 |
286.8 | -10.5 | -13.3 | -35.3 | -51.74 |
2. Reasons of revision
The underlying depreciation of yen during the first half of the fiscal year ending March 2010 was generally weaker than OKI's assumned exchange rate. As a result, net sales will remain approximately the same as its previous projections. OKI expects its incomes; operating income, recurring income and net income, to exceed the previous projections announced, due to its efforts to expedite saving on expenses, in addition to the impact of the currency exchange.
There is still uncertainty over the outlook for the economic environment as well as the currency market for the third quarter onward. Since decline in net sales and price drops caused by intensified competition can be expected, OKI is exmanining the impact on its full year projections for the fiscal year ending March 31, 2010.
- Amounts are rounded to the nearest hundred million.
- The projections and plans on this release are subject to change depending upon the changes of business environments and other conditions.
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