Notice on Impact of the Flood in Thailand
TOKYO, February 3, 2012 -- OKI (TSE:6703) today announces that it has posted extraordinary loss (loss on natural disasters) due to the flood damage in Thailand in its financial results for the first nine months of the fiscal year ending March 31, 2012.
- Extraordinary loss related to the flooding in Thailand
OKI Data Manufacturing (Thailand), a consolidated subsidiary of OKI located at the Rojana Industrial Park in Ayutthaya Province, central Thailand, was exposed to water following the flood in October 2011. Operations at the manufacturing facility were temporarily suspended since October 6, 2011 and OKI has put in place alternative manufacturing solutions which started November 7, 2011. OKI Data Manufacturing (Thailand) has partially resumed operations on January 4, 2012 and the company expects to return to full-scale operations at the end of March 2012.
Following the flood damage, OKI has posted 2.7 billion yen for loss on fixed assets and inventories as well as recovery expenses as “loss on natural disasters” in its financial results for the fiscal year ending March 31, 2012.
- Outlook
OKI expects additional outlay until the facility resumes full-scale operations. However, the damaged fixed assets were covered by property insurance, so considering the receipt of insurance, the company projects impact on its overall extraordinary loss to approximate 1.5 billion yen.
Details of OKI's full year projections for the fiscal year ending March 31, 2012, including the above, can be found in “Financial Results for the 3rd Quarter of the FY ending March 31, 2012,” announced today.
Reference
Full year projections for the fiscal year ending March 31, 2012 (announced Feb, 3, 2012)
- Net sales
- 428.0 billion yen
- Operating income
- 17.0 billion yen
- Recurring income
- 13.0 billion yen
- Net income
- 6.5 billion yen
- Net income per share
- 7.09 yen
* The projections and plans on this release are subject to change depending upon the changes of business environments and other conditions.
About OKI Electric Industry (OKI)
Founded in 1881, OKI Electric Industry is Japan's first telecommunications manufacturer. Headquartered in Tokyo, Japan, OKI provides top-quality products, technologies, and solutions to customers through its info-telecom systems and printer operations. Its various business divisions function synergistically to bring to market exciting new products and technologies that meet a wide range of customer needs in various sectors. Visit OKI's global web site at http://www.oki.com/.
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Phone: +81-3-3501-3835
- * Information in the press releases is current on the date of the press announcement, but is subject to change without prior notice.