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NSG Group announces Revision of Forecast

Date
05 Aug 2010

NSG Group, (hereinafter “the Group”) announces a revision to its previous forecast for the first half of the financial year to 31 March 2011, from 1 April 2010 to 30 September 2010, and also for the full year to 31 March 2011 (FY2011), from 1 April 2010 to 31 March 2011, as set out below.

1.  Revised forecast (consolidated)


Half year forecast (1 April 2010 to 30 September 2010)

(Unit: JPY million, %)

 

Net Sales

Operating Income

Ordinary Income

Net Income

Net income per share

Previous forecast (A)
published on
14 May 2010

300,000

4,000

1,000

(3,000)

¥(6.56)

Revised forecast (B)

300,000

9,000

6,000

1,000

¥(0.58)

Change(B-A)

-

5,000

5,000

4,000

-

Change (%)

-

125%

500%

-

-

Previous year result (FY2010)

292,989

(16,222)

(24,743)

(26,248)

¥(41.00)

 

Full year forecast (1 April 2010 to 30 March 2011)

(Unit: JPY million, %)

 

Net Sales

Operating Income

Ordinary Income

Net Income

Net income per share

Previous forecast (A)
published on
14 May 2010

600,000

10,000

4,000

(4,000)

¥(10.13)

Revised forecast (B)

600,000

15,000

10,000

1,000

¥(2.66)

Change(B-A)

-

5,000

6,000

5,000

-

Change (%)

-

50%

150%

-

-

Previous year result (FY2010)

588,394

(17,183)

(28,552)

(41.313)

¥(65.61)

 

2.  Reason for the revision

The revised forecast for the first half of the financial year primarily reflects stronger demand for the Group’s products. Also included within forecast operating income is the income statement impact of insurance claim settlement following the February 2010 earthquake in Chile, expected to be received during the second quarter of the year, of approximately ¥ 3,800 million, being approximately ¥ 1,000 million higher than originally predicted.

The revised forecast for the full year reflects the improvements in the forecast for the first half of the year together with an expectation of continued improvements in joint venture and associates’ profits, credited to non-operating items. The Group has not amended its expectations of operating income in the second half of the year as it believes these are still appropriate. For both the half year and full year forecasts, net sales remain unchanged due to the translational effect of a strong Japanese yen.