Forecast for Fiscal 2011
With the debt problems in Europe, increasing concerns about the slowing global economy, and the prolonged situation of a strong yen, the current business environment is much more severe than we initially assumed.
Considering this business environment and our business results up to the third quarter, we have revised our annual forecast for net sales from 2,800.0 billion yen to 2,550.0 billion yen, operating income from 85.0 billion yen to 0 yen, and net income from 6.0 billion yen to a loss of 290.0 billion yen. The forecast for capital investment has also been reduced to 140.0 billion yen from 160.0 billion yen.
In addition to a decline in sales, the other main factors behind the difference between the previous forecast and revised forecast of the net income were the temporary factors such as business restructuring charges for LCDs and solar cells, costs of reinforcing business foundations that aim to boost performance from fiscal 2012, settlement package and the reversal of deferred tax assets.
The year-end dividend, which was undecided at the time of the announcement of the second quarter results (October 27, 2011), is planned at 5 yen per share, on consideration of the revised annual forecast. This means that the planned annual dividend for fiscal 2011 is 10 yen, a reduction of 7 yen from the previous year.
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