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NSG Group announces Revision of Forecast

Date
14 Nov 2008
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.