<Consolidated Financial Results for the Third Quarter Ended December 31, 2013>
Forecast for the Year Ending March 31, 2014
Financial Results Forecast | (Billions of Yen) |
|
FY2013 |
|
FY2013 |
|
1Q to 3Q
Accumu-
lated
Total |
4Q
Revised
Forecast |
Full Year
Revised
Forecast |
Difference from
Previous Forecast |
Full Year
Previous
Forecast |
1Q |
2Q |
3Q |
Changed
Amount |
Ratio of
Change |
Net Sales |
607.9 |
734.1 |
815.2 |
2,157.2 |
742.7 |
2,900.0 |
+200.0 |
+7.4% |
2,700.0 |
|
Domestic |
258.8 |
285.5 |
296.2 |
840.5 |
279.4 |
1,120.0 |
+100.0 |
+9.8% |
1,020.0 |
Overseas |
349.1 |
448.5 |
519.0 |
1,316.7 |
463.2 |
1,780.0 |
+100.0 |
+6.0% |
1,680.0 |
Operating Income |
3.0 |
30.8 |
47.6 |
81.4 |
18.5 |
100.0 |
+20.0 |
+25.0% |
80.0 |
Net Income |
-17.9 |
13.6 |
22.0 |
17.7 |
-12.7 |
5.0 |
0.0 |
- |
5.0 |
Based on the results for the first three quarters and the current business climate, we revised our full year forecast upward for fiscal 2013. Net sales were revised to 2.9 trillion yen, an increase of 200 billion yen over the previous forecast of 2.7 trillion yen. Following this, we also upwardly revised operating income by 20 billion yen from 80 billion yen to 100 billion yen. However, net income remains unchanged, because other expenses are anticipated to increase from the previous forecast, mainly in interest expense, exchange rate loss with depreciation of currencies in emerging countries, and costs associated with financial arrangements.
In the fourth quarter, we forecast decreases in net sales and operating income compared to the third quarter. This is due mainly to seasonal factors and the timing at which major products are released into the market. In addition, increases in the amount of other expenses and corporate tax are projected in the fourth quarter. We anticipate all these factors will trigger a decrease in net income compared to the third quarter, leading to a net deficit in the fourth quarter.