Investor Relations
IR Announcement
August 10, 2023
To Whom It May Concern
- Company
- Oki Electric Industry Co., Ltd.
- Representative
- Takahiro Mori
Representative Director
Chief Executive Officer - Code
- 6703 (Prime Market, TSE)
- Contact
- Hideaki Sato
General Manager
Investor Relations - TEL
- +81-3-5635-8212
Notice Regarding Revisions to Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2024
OKI has decided to revise the consolidated earnings forecast for the fiscal year ending March 31, 2024 announced on May 10, 2023. Details are as follows:
1.Revisions of consolidated earnings forecasts
(1)Revised consolidated earning forecasts for the fiscal year ending March 31, 2024
| Net sales | Operating income | Ordinary income | Profit attributable to owners of parent | Net income per share | |
|---|---|---|---|---|---|
| million yen | million yen | million yen | million yen | yen | |
| Previous forecasts (A) | 440,000 | 11,000 | 8,500 | 4,000 | 46.18 |
| Revised forecasts (B) | 440,000 | 15,000 | 12,500 | 8,000 | 92.31 |
| Changes (B) - (A) | — | 4,000 | 4,000 | 4,000 | — |
| Percent change (%) | — | 36.4 | 47.1 | 100.0 | — |
| Ref. Previous term (FY ended Mar.31, 2023) |
369,096 | 2,403 | -328 | -2,800 | -32.33 |
(2)Reasons for the revision
As announced in "Notice Concerning Judgment of the Lawsuit Filed by Subsidiary" on June 20, 2023, on June 13, 2023, the Supreme People's Court served a written judgment affirming the claims of our company and its subsidiary in our company, Oki Banking Systems (Shenzhen) Co., Ltd. As a result of close examination of the status of this lawsuit, we reversed the allowance for doubtful accounts during the first quarter of the fiscal year ending March 2024. As for the full-year consolidated earnings forecast, operating income, ordinary income and profit attributable to owners of the parent are expected to exceed the initial forecast, and will be revised as described above.
