NSG Group announces Revision of Forecast
NSG Group, (hereinafter “the Group”) announces the revision made to its previous forecast for FY 2009 (April 2008 through March 2009) published on 11 August 2008, as set out below.
I. Revised forecast (consolidated)
Full year forecast (1 April 2008 through 31 March 2009)
|
(Unit: JPY million, %)
|
|
|
Net Sales
|
Operating income
|
Ordinary income
|
Net Income
|
Net income per share
|
|
Previous forecast (A)
published on 11 August 2008
|
880,000
|
31,000
|
18,000
|
27,500
|
¥41.15
|
|
Revised forecast (B)
|
810,000
|
20,000
|
8,000
|
9,000
|
¥13.47
|
|
Change (B-A)
|
(70,000)
|
(11,000)
|
(10,000)
|
(18,500)
|
-
|
|
Change (%)
|
-8.0%
|
-35.5%
|
-55.6%
|
-67.3%
|
-
|
|
Previous year result (FY2008)
|
865,587
|
46,462
|
30,437
|
50,416
|
¥75.44
|
II. Reason for the revision
The reduction in income arises partly as a result of the stronger yen generating a reduced level of income on consolidation, and partly as a result of the challenging market conditions faced in many of the Group's major markets. These challenging market conditions are anticipated to continue during the remainder of the financial year. In addition, the forecast reflects the income statement loss arising from the receipt of the results of the EU Competition Commission investigation, as set out in the statement issued by the company on 13 November.