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Notice Regarding Revisions to Consolidated Earnings Forecasts and Dividend Forecast for the Fiscal Year Ended March 31, 2021
TOKYO, April 22, 2021 -- Given the recent trends in its business performance and others, OKI has decided to revise the consolidated earnings forecast for the fiscal year ended March 31, 2021 announced on October 29, 2020, and the dividend forecast that had been undecided. Details are as follows:
1. Revisions of consolidated earnings forecasts
1) Revised consolidated earning forecasts for the fiscal year ended March 31, 2021
| 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) | 405,000 | 8,500 | 8,000 | 1,000 | 11.55 |
| Revised forecasts (B) | 393,000 | 9,500 | 9,400 | -200 | -2.31 |
| Changes (B-A) | -12,000 | 1,000 | 1,400 | -1,200 | — |
| Percent change (%) | -3.0 | 11.8 | 17.5 | — | — |
| Ref. Previous term (FY ended Mar.31, 2020) |
457,223 | 16,829 | 13,804 | 14,086 | 162.80 |
2) Reasons for the revision
On October 29, 2020, OKI announced its consolidated earnings forecasts on the assumption that the COVID-19 impact on its business performance will recover in the second half of the fiscal year. However, its impact was longer than expected partly due to the re-spread of COVID-19, and overseas sales fell short of the target. As a result, sales are expected to be lower than the previous forecast.
In terms of profit, operating income and ordinary income are expected to exceed the previous forecast. The Components & Platform business, despite the effects of structural reforms, has been seriously affected by the COVID-19 and is not on target. On the other hand, the Solution Systems business exceeds the plan, driven by network-related businesses.There was also a company-wide cost reduction associated with business activities under COVID-19 circumstances. Net income attributable to owners of the parent is expected to be lower than the previous forecast due to the impact of the reversal of deferred tax assets and etc.
2. Revisions of dividend forecasts
1) Revised dividend forecasts for the fiscal year ended March 31, 2021
| Dividend Per Share(Yen) | |||
|---|---|---|---|
| Second quarter-end | Year-end | Total | |
| Previous forecasts | — | Undecided | Undecided |
| Revised forecasts | — | 20.00 | 20.00 |
| Current term | 0.00 | — | — |
| Ref. Previous term (FY ended Mar.31, 2020) |
0.00 | 50.00 | 50.00 |
2) Reasons for the revision
On October 29, 2020, OKI announced its consolidated earnings forecasts on the assumption that the COVID-19 impact on its business performance will recover in the second half of the fiscal year. However, its impact was longer than expected partly due to the re-spread of COVID-19, and overseas sales fell short of the target. As a result, sales are expected to be lower than the previous forecast.
In terms of profit, operating income and ordinary income are expected to exceed the previous forecast. The Components & Platform business is expected to have structural reform effects, but the impact of the prolonged COVID-19 will remain for the full year. On the other hand, the Solution Systems business is expected to be driven by network-related businesses and etc. for the full year. There was also a company-wide cost reduction associated with business activities under COVID-19 circumstances. Net income attributable to owners of the parent is expected to be lower than the previous forecast due to the impact of the reversal of deferred tax assets and etc.
- *The projections and plans on this document are subject to change depending upon the changes of business environments and other conditions.
- The names of companies and products mentioned in this document are the trademarks or registered trademarks of the respective companies and organizations.
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- * Information in the press releases is current on the date of the press announcement, but is subject to change without prior notice.