Nippon Sheet Glass announces Revision of Operating Result Forecast and Recognition of Extra-ordinary Gain
In connection to the sale of the flat glass business in Australasia announced on 29th June 2007, Nippon Sheet Glass Co., Ltd. (“the Company”) announces the revisions made to its forecast of operating results published on 31st May 2007 and the recognition of extra-ordinary gain for the full fiscal year 2008 ( April 2007 through March 2008 ) as below.
I. Estimation of the extra-ordinary gain from the sale of business:
JPY 25-35 Billion.
The Company has sold the business by way of selling all the issued shares of the holding company, named Pilkington Australia Finance Pty Ltd. Since the Company is still working on to finalize the value of the assets and liabilities of the business and also the resulting income tax should be calculated based upon the said value, the Company have to show the gain from the sale in an above range at this present.
The final amount of the gain will be announced as soon as it is fixed.
II. Revised forecast for the consolidated result
The Company revises its forecast of operating results, published on 31st May 2007, for the full fiscal year 2008 ( 1st April 2007 through 31st March 2008 ) as below.
1. Interim result (1st April 2007 through 30th September 2007)
Unit: JPY million,%
|
|
Net Sales
|
Income before
extra-ordinary items
|
Net Income
|
|
Previous forecast (A)
on 31st May 2007
|
420,000
|
12,000
|
9,000
|
|
Revised forecast (B)
|
420,000
|
12,000
|
29,000～39,000
|
|
Change (B-A)
|
0
|
0
|
+20,000～30,000
|
|
Change (%)
|
0.0%
|
0.0%
|
+222.2～333.3%
|
|
Previous year result
|
273,259
|
7,250
|
20,259
|
2. Full year result (1st April 2007 through 31st March 2008)
Unit: JPY million,%
|
|
Net Sales
|
Income before
extra-ordinary items
|
Net Income
|
|
Previous forecast (A)
on 31st May 2007
|
830,000
|
24,000
|
15,000
|
|
Revised forecast (B)
|
830,000
|
24,000
|
35,000～45,000
|
|
Change (B-A)
|
0
|
0
|
+20,000～30,000
|
|
Change (%)
|
0.0%
|
0.0%
|
+133.3～200.0%
|
|
Previous year result
|
651,547
|
8,001
|
12,095
|
III. Forecast for the non-consolidated result
The forecast for the non-consolidated result is not published.