Koito Manufacturing : Announcement Regarding the Business Results Forecast for Fiscal 2021

July 28, 2020

PRESS RELEASE

KOITO MANUFACTURING CO., LTD. Representative Director: Hiroshi Mihara, President (Stock Code: 7276 First Section, TSE)

Inquiries: Atsushi Inoue, Managing Corporate Officer General Affairs Dept.

(Tel: [phone])

Announcement Regarding the Business Results Forecast for Fiscal 2021

KOITO MANUFACTURING CO., LTD. ("KOITO") announces that, it has revised its consolidated and non-consolidated business results forecast for fiscal 2021, the year ending March 31, 2021, which remained "undecided" in the "Consolidated Earnings Report for Fiscal 2020" released on May 28, 2020, as shown below:

1. Revision of the Business Results Forecast
(1) The Business Results Forecast for the First Half of the Year Ending March 31, 2021
	(April 1, 2020 to September 30, 2020)
1) Consolidated Results									(¥ millions)
					Operating				Profit
			Net sales		Recurring profit		attributable to		Net income
					income				owners of		per share (¥)
									parent
	Previously-announced		―		―		―		―		―
	forecast (A)
	Revised forecast (B)		267,000		△2,000	0		△2,500		△15.55
	Difference (B-A)		―		―		―		―		―
	Change (%)		―		―		―		―		―
	(Reference) Actual results
	for previous year		399,061	41,725	42,763	29,114	181.14
	(fiscal 2020)
	2) Non-Consolidated Results									(¥ millions)
			Net sales		Operating		Recurring		Net income		Net income
				income		profit			per share (¥)
	Previously-announced		―		―		―		―		―
	forecast (A)
	Revised forecast (B)		121,000		△1,000		11,500		17,500		108.88
	Difference (B-A)		―		―		―		―		―
	Change (%)		―		―		―		―		―
	(Reference) Actual results
	for previous year		180,791		16,301		29,284		23,454		145.92
	(fiscal 2020)

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1. The Full-Year Business Results Forecast for the Year Ending March 31, 2021 (April 1, 2020 to March 31, 2021)

1) Consolidated Results					(¥ millions)
			Operating	Recurring	Profit	Net income
		Net sales	attributable to
		income	profit	owners of	per share (¥)
					parent
Previously-announced		―	―	―	―	―
forecast (A)
Revised forecast (B)		620,000	18,000	21,000	10,000	62.21
Difference (B-A)		―	―	―	―	―
Change (%)		―	―	―	―	―
(Ref.) Actual results		800,928	82,411	85,264	58,022	360.99
for year ending March
31, 2020
2) Non-consolidated Results					(¥ millions)
		Net sales	Operating	Recurring	Net income	Net income
		income	profit	per share (¥)
Previously-announced		―	―	―	―	―
forecast (A)
Revised forecast (B)		267,000	2,000	18,500	22,000	136.87
Difference (B-A)		―	―	―	―	―
Change (%)		―	―	―	―	―
(Ref.) Actual results		356,505	25,574	46,713	41,644	259.09
for year ending March
31, 2020

2. Reason for the Revision

Regarding KOITO's business forecast for fiscal 2021, the year ending March 2021, it were kept to be undecided because it was difficult to properly and reasonably calculate due to the global expansion of the novel coronavirus pandemic. However, based on the recent automotive production trends and information available at this time, KOITO has decided to announce the forecast.

The global economy is expected to remain unclear, and KOITO's performance for fiscal 2021 may fluctuate significantly depending on global automobile sales, production trends and other factors. If matters that have to be disclosed occur in the future, KOITO will promptly disclose them.

(Note) The above projections are based on information available at the time of release of this news. Actual results could differ from projections due to a variety of factors.

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