SANYO Electric Co., Ltd. (SANYO) has announced a revision to its financial results forecast for Fiscal Year (FY) 2008 ended March 31, 2009, from those announced on January 15, 2009.
Consolidated Results Forecast for FY 2008 (April 1, 2008-March 31, 2009) (Unit: Millions of Yen)
|
|
Net Sales |
Operating Income |
Income before Income Taxes (Loss) |
Net Income (Loss) |
|
Current Forecast (B) |
1,760,000 |
0 |
(107,000) |
(90,000) |
|
Previous Forecast (A) |
1,900,000 |
30,000 |
(20,000) |
0 |
|
Difference from the Previous Forecast (B-A) |
(140,000) |
(30,000) |
(87,000) |
(90,000) |
|
% of Change (B-A/A) |
(7.4%) |
(100.0%) |
- |
- |
|
FY 2007 Results |
2,017,824 |
76,141 |
57,228 |
28,700 |
Non-consolidated Results Forecast for FY 2008 (April 1, 2008-March 31, 2009) (Unit: Millions of Yen)
|
|
Net Sales |
Operating Income |
Ordinary Income (Loss) |
Net Income (Loss) |
|
Current Forecast (B) |
990,000 |
(10,000) |
(30,000) |
(100,000) |
|
Previous Forecast (A) |
1,050,000 |
5,000 |
(7,000) |
(50,000) |
|
Difference from the Previous Forecast (B-A) |
(60,000) |
(15,000) |
(23,000) |
(50,000) |
|
% of Change (B-A/A) |
(5.7%) |
- |
- |
- |
|
FY 2007 Results |
1,417,946 |
15,892 |
2,934 |
18,905 |
Reasons of Revisions to Financial Results Forecast
The business environment surrounding SANYO has become increasingly severe, particularly in the 4th quarter, started January 2009, of the current fiscal year, mainly due to the effects of the worldwide economic confusion originating from the financial crisis in the US.
As for the consolidated financial results, the net sales and operating income have decreased especially for the components business area primarily for products such as those related to rechargeable batteries, electronics devices and semiconductors.
Regarding the forecasts for income before income taxes and net income, the numbers are expected to fall below the previous forecast from additional restructuring costs, especially for the semiconductor business.
For the non-consolidated financial results, in addition to the worsening net sales, operating income and ordinary income, further impairment losses for semiconductor related affiliates’ stock will be accrued, leaving the net income below expectations from previous forecasts.
Notice Related to Future Outlook
All statements in this report, other than past factual matters, are future results projected in accordance with SANYO’s present plans, outlooks and strategies, based on management judgments in light of information currently available. Therefore, SANYO cannot guarantee the accuracy and reliability of this information, and requests that you should not rely on this information alone.
There are various factors influencing business forecasts such as business risks and uncertainties. The principal factors that may cause changes in the forecasts includes: 1) large changes in economic conditions and capital markets, as well as consumption changes in businesses SANYO engages in, 2) the effects on SANYO’s international business activities of fluctuation in exchange rates between the yen and the U.S dollar, as well as the yen and other currencies, 3) various trade restrictions in the markets of individual countries, and 4) SANYO’s ability to provide new technologies, new products and new services amid rapid technological innovation, market competition and price competition. However, it should be noted that factors affecting SANYO’s performance are not limited to those mentioned above; there are other factors that pose latent risks and uncertainties.