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OKI Revises Consolidated Earnings Projections for the First Half of the Fiscal Year ending March 31, 2014

TOKYO, October 23, 2013 -- Oki Electric Industry Co., Ltd. (TOKYO:6703) today announced it has recorded non-operating income (currency exchange gain) and extraordinary loss (business structure improvement cost).

OKI has also revised its consolidated earning projections for the first half (April 1 to September 30, 2013) of the fiscal year ending March 31, 2014 from its previous projections announced on May 9, 2013, in light of recent business performance.

1. Recording of non-operating income

OKI has recorded 5.2 billion yen of gain on currency exchange in non-operating income, due to depreciation of yen for the 1st half (April 1 to September 30, 2013) of the fiscal year ending March 31, 2014.

This gain on currency exchange is based on the exchange rate at the end of 1st half of the fiscal year ending March 31, 2014.

2. Content of extraordinary loss (business structure)

OKI has recorded 2.9 billion yen of extraordinary loss, related to personnel reduction etc., caused by structural improvement of the Printer business, as "business structure improvement cost" during the 1st half of the fiscal year ending March 31, 2014.

3. Revision of consolidated projections for the 1st half of the fiscal year ending March 31, 2014(From April 1 to September 30, 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) 194.5 1.5 -0.5 -2.5 -3.43
Revised projections (B) 204.0 2.8 7.0 1.8 2.47
Changes (B-A) 9.5 1.3 7.5 4.3
Percent change (%) 4.9 86.7
Reference: Results for the 1st half of the fiscal year ended March 31, 2013 193.6 -4.0 -6.1 -6.7 -9.20

Reasons of revision

OKI projects net sales and operating income to increase from the previous announcement due to sales growth and cost reduction, mainly in Info-telecom systems business. Recurring income will also increase from the previous announcement since higher operating income and gain on currency exchange will be recorded. Net income will increase from the previous announcement although costs for structural improvement will be recorded.

OKI will announce projections for the full-year on October 30, when it plans to announce financial results for the first half of the fiscal year ending March 31, 2014.

  • 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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