Investor Relations
IR Announcement
May 7, 2024
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
- Youji Takahashi
General Manager
Investor Relations - TEL
- +81-3-5635-8212
Notice of Recording Gain on Income Tax Adjustments (Non-consolidated and Consolidated) and Revision of Full-Year Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2024
OKI announces that it expects to record gain on income tax adjustments in its non-consolidated and consolidated financial results for the fiscal year ending March 31, 2024, as described below.
OKI also announces that it has revised its full-year consolidated earnings forecast for the fiscal year ending March 31, 2024, which was announced on February 7, 2024.
1.Recording gain on income tax adjustments (non-consolidated and consolidated)
After carefully examining the recoverability of deferred tax assets in consideration of the current and future business performance trends, the Company plan to book income tax adjustments (gain). As a result, for the fiscal year ending March 31, 2024, the Company expects to record a gain of 6,484 million yen on its non-consolidated basis and a gain of 10,963 million yen on its consolidated basis.
2.Revision of consolidated earnings forecast
(1)Revised consolidated earnings forecast 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) | 425,000 | 17,000 | 15,500 | 12,000 | 138.45 |
| Revised forecasts (B) | 421,900 | 18,700 | 18,300 | 25,600 | 295.36 |
| Changes (B) - (A) | -3,100 | 1,700 | 2,800 | 13,600 | — |
| Percent change (%) | -0.7 | 10.0 | 18.1 | 113.3 | — |
| Ref. Previous term (FY ended Mar.31, 2023) |
369,096 | 2,403 | -328 | -2,800 | -32.33 |
(2)Reasons for the revision
Regarding the outlook for the fiscal year ending March 31, 2024, net sales are expected to be slightly lower than the previous forecast with considering the performance trends of each business segment. Operating income is expected to exceed the previous forecast due to the impact of product mix and a decrease in expenses, and ordinary income is expected to further exceed the previous forecast due to favorable foreign exchange impacts. Profit attributable to owners of parent is expected to exceed the previous forecast due to the recording of income tax adjustments(gain).
The dividend forecast remains unchanged from that announced on May 10, 2023.
