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OKI Revises Full-Year Consolidated Earning Projections for the Fiscal Year ending March 31, 2014 and Dividend Projections

TOKYO, October 30, 2013 -- Oki Electric Industry Co., Ltd. (TOKYO:6703) today announced that it has revised its full-year consolidated earning projections for the fiscal year ending March 31, 2014 (April 1, 2013 to March 31, 2014) from its previous projections announced on May 9, 2013, its interim dividend and projection to year-end dividend, following the resolution of the Board of Directors held today.

1. Revision of full-year consolidated earning projections for the fiscal year ending March 31, 2014(From April 1, 2013 to March 31, 2014)

  Net sales Operating income Ordinary income Net income Net income per share
  billion yen billion yen billion yen billion yen yen
Previous projections (A) 460.0 22.0 19.0 11.5 14.42
Revised projections (B) 480.0 24.0 24.0 15.0 19.23
Changes (B-A) 20.0 2.0 5.0 3.5
Percent change (%) 4.3 9.1 26.3 36.4
Reference: Results for the 1st half of the fiscal year ended March 31, 2013 455.8 13.5 20.3 13.6 17.24

Reasons of revision

OKI projects net sales and operating income to increase due to growth of ATMs for the overseas market, such as China, disaster prevention administrative radio systems and digitalization of fire prevention wireless systems, in addition to steady sales of enterprise networks following impact of launching new products, and solutions for financial institutions and enterprises. As for Printer business, net sales is projected to increase due to sales of strategic products designed for the copier market and launch of new products for the professional market, however, operating income is the same as the previous projection due to impact of revising sales strategies, despite the effect of cutdown in fixed costs as an outcome of revamping its business structure.

The 2H exchange rate for the full-year projections are 95 yen/USD and 125 yen/Euro.

For details, refer to Financial Results for the First Half of FY ending March 31, 2014 announced today.

2. Revision of interim and year-end dividends

Dividend for end of 1H (interim dividend)

  Dividend Previous projection
(May 9, 2013)
Dividend for 1H of the FY ended March 31, 2013
Date of right allotment Sep 30, 2013 Sep 30, 2013 Sep 30, 2012
Dividend per share 0.00 yen 0.00 yen
Total dividend 0 yen 0 yen
Effective date
Profit available for dividend

Revision of projection for year-end dividend

  Dividend per share
Interim dividend Year-end dividend Annual dividend
Previous projection (May 9, 2013)
Revised projection 3.00 yen 3.00 yen
Actual 0.00 yen
Dividend for FY ended March 31, 2013 0.00 yen 0.00 yen 0.00 yen

Reasons of revision

The most paramount management task for OKI is to enhance corporate values of the OKI Group and endeavor to maximize profits for its shareholders. OKI will pass this interim dividend, however, the company plans a divided payment of 3 yen per share, in light of recent business performance.

  • 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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