Announcement Regarding Revision of Business Performance Forecasts for Fiscal 2001 (Non-Consolidated)
On February 8, 2002, Kuraray released an announcement regarding the revision of its non-consolidated business performance forecast for fiscal 2001 (term to March 31, 2002). The Company has now further revised these figures to more accurately reflect various factors, as detailed below.
1. Revised forecasts of non-consolidated business performance for the term ended March 31, 2002
| Net sales | Operating income | Ordinary income | Net income | |
|---|---|---|---|---|
| Previous forecast (A) (Published Feb. 8, 2002) | 220,000 | 10,500 | 13,000 | 500 |
| Revised forecast (B) | 221,000 | 11,000 | 14,000 | 1,500 |
| Increase (B-A) | 1,000 | 500 | 1,000 | 1,000 |
| Percentage change | 0.5 | 4.8 | 7.7 | 200.0 |
| Figure for previous term (to March 31, 2001) | 241,670 | 14,535 | 19,538 | 4,565 |
(¥ million; %)
No revision of the estimated business performance on a consolidated basis has been issued, as the figures are still being calculated.
(For reference use)
| Net sales | Operating income | Ordinary income | Net income | |
|---|---|---|---|---|
| Previous forecast (Published Feb. 8, 2002) | 305,000 | 18,000 | 17,500 | 3,000 |
| Figure for previous term (to March 31, 2001) | 313,650 | 19,931 | 22,757 | 4,044 |
(¥ million)
2. Reasons for Revised Forecast
Compared with the previous forecast, we now expect increased earnings as a result of: (1) reduced costs through rationalization aimed at the creation of an earnings structure improvement; (2) valuation gain on long-term loans denominated in foreign currencies to subsidiaries; and (3) a reduction in valuation loss on investment securities.