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OKI Revises Consolidated Earnings Projections for the Fiscal Year ended March 31, 2013

TOKYO, April 23, 2013 -- Oki Electric Industry Co., Ltd. (TYO:6703) today announced it has recorded non-operating income (currency exchange gain) and revised its consolidated earning projections for the fiscal year ended March 31, 2013 from its previous projections announced on Febuary 13, 2013, in light of recent business performance.

1. Recording of non-operating income

OKI had recorded 4.8 billion yen of non-operating income due to gain on currency exchange for the 3rd quarter (April 1 to December 31, 2012) of the fiscal year ended March 31, 2013. However, OKI also projects 4.0 billion yen of non-operating income for the 4th quarter (January 1 to March 31, 2013) of the fiscal year ended March 31, 2013 due to fluctuation in the foreign exchange market. Therefore, OKI projects 8.8 billion yen of currency exchange gain in non-operating income for the fiscal year ended March 31, 2013.

2. Revision of consolidated projections for the fiscal year ended March 31, 2013
(From April 1, 2012 to March 31, 2013)

  Net sales Operating income Recurring income Net income Net income per share
  billion yen billion yen billion yen billion yen yen
Previous projections (A) 452.0 10.0 11.5 8.0 9.57
Revised projections (B) 455.8 13.3 20.0 13.5 17.10
Changes (B-A) 3.8 3.3 8.5 5.5
Percent change (%) 0.8 33.0 73.9 68.8
Reference: Results for the fiscal year ended March 31, 2012 423.5 12.0 9.1 1.6 0.32

Reasons of revision

OKI projects net sales and operating income to increase from the previous annoucement due to progress in sales growth and cost reduction, mainly in Info-telecom systems business. Recurring income will also increase from the previous annoucement since higher operating income and gain on currency exchange will be recorded. Net income will increase, attributal to the gain on sales of fixed asset, in addition to the rise in recurring income, although loss on reorganizing subsidiaries will be recorded.

OKI will announce the details on May 9, when it plans to announce financial results for the fiscal year ended March 31, 2013.

  • 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.
Press Contact:
Public Relations Division
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.

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