Given recent trends in business performance and other factors, Tokai Carbon Co., Ltd. ("the Company") has revised the interim (January 1–June 30, 2007) and full-year (January 1–December 31, 2007) earnings forecasts it released along with its financial statements on February 14, 2007. The details of this revision appear below.
| 1. Revision to the Forecast of Consolidated Earnings for the Fiscal Year ending December 31, 2007 |
1) Interim forecast (January 1–June 30, 2007) |
(in million yen) |
| |
Net sales |
Operating income |
Ordinary income |
Interim net income |
| Previous forecast (A) |
53,000 |
7,500 |
7,500 |
4,000 |
| Revised forecast (B) |
56,000 |
9,800 |
10,300 |
5,900 |
| Difference (B–A) |
3,000 |
2,300 |
2,800 |
1,900 |
| Percentage change |
5.7% |
30.7% |
37.3% |
47.5% |
Note:
Previous year's results (Interim results for FY ended December 31, 2006) |
45,473 |
6,574 |
6,478 |
3,066 |
|
 |
2) Full-year forecast (January 1–December 31, 2007) |
(in million yen) |
| |
Net sales |
Operating income |
Ordinary income |
Net income |
| Previous forecast (A) |
110,000 |
16,000 |
16,000 |
8,500 |
| Revised forecast (B) |
112,000 |
19,000 |
19,500 |
11,000 |
| Difference (B–A) |
2,000 |
3,000 |
3,500 |
2,500 |
| Percentage change |
1.8% |
18.8% |
21.9% |
29.4% |
Note:
Previous year's results (FY ended December 31, 2006) |
99,095 |
14,800 |
14,446 |
7,967 |
|
Note: Projected net income per share: ￥51.97. |
|
| 2. Revision to the Forecast of Non-Consolidated Earnings for the Fiscal Year ending December 31, 2007 |
1) Interim forecast (January 1–June 30, 2007) |
(in million yen) |
| |
Net sales |
Operating income |
Ordinary income |
Interim net income |
| Previous forecast (A) |
32,000 |
5,000 |
5,000 |
3,000 |
| Revised forecast (B) |
33,500 |
6,000 |
7,000 |
4,900 |
| Difference (B–A) |
1,500 |
1,000 |
2,000 |
1,900 |
| Percentage change |
4.7% |
20.0% |
40.0% |
63.3% |
Note:
Previous year's results (Interim results for FY ended December 31, 2006) |
29,960 |
4,952 |
5,105 |
2,648 |
|
|
2) Full-year forecast (January 1–December 31, 2007) |
(in million yen) |
| |
Net sales |
Operating income |
Ordinary income |
Net income |
| Previous forecast (A) |
65,000 |
11,000 |
11,000 |
6,500 |
| Revised forecast (B) |
68,000 |
12,000 |
13,000 |
8,500 |
| Difference (B–A) |
3,000 |
1,000 |
2,000 |
2,000 |
| Percentage change |
4.6% |
9.1% |
18.2% |
30.8% |
Note:
Previous year's results (FY ended December 31, 2006) |
63,217 |
10,681 |
11,289 |
6,436 |
|
Note: Projected net income per share: ￥40.16 |
|
| 3. Reason for Revision |
| 1) Consolidated |
|
With regard to the interim performance, in addition to the reasons for the revision to non-consolidated performance given below, favorable performance in terms of sales volume and profits for graphite electrodes at overseas subsidiaries has also contributed to the increase in net sales, operating income, ordinary income and interim net income. The full-year earnings forecast reflects the revised foreign exchange forecasts for the second half of the year of ￥115/USD (previous forecast: ￥110/USD) and ￥155/EUR (previous forecast: ￥140/EUR). |
|
|
| 2) Non-consolidated |
|
With regard to the interim performance, a weaker yen against the U.S. dollar and the euro, rising sales prices for electrode exports, revised domestic sales prices in Japan in conjunction with increases in the cost of raw materials resulted in the rise in net sales, operating income and ordinary income. Interim net income rose partly due to the increased extraordinary income resulted from the gain on the extinguishment of the shares of the consolidated subsidiary that has been merged by the Company. The full-year earnings forecast reflects the revised foreign exchange forecasts for the second half of the year of ￥115/USD (previous forecast: ￥110/USD) and ￥155/EUR (previous forecast: ￥140/EUR). |
|
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* Earnings forecasts appearing herein are based on information available at the time of the release of this report, and actual results subsequently realized may differ from these forecasts due to a variety of factors. |
