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    6073   JP3117350003

ASANTE INCORPORATED

(6073)
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Asante Incorporated : Notice of Business Forecasts and Dividend Forecasts for the Fiscal Year Ending March 2021

08/27/2020 | 02:06am EDT

News Release: Asante, Inc.

(6073 TSE1)

August 21, 2020

To whom it may concern

Company nameAsante, Inc.

(Code: 6073)

RepresentativeSei Miyauchi,

Chief Executive Officer

ContactYoshiyuki Nakao,

Director, General Manager,

Corporate Planning Department

(TEL: +81-3-3226-5511)

Notice of Business Forecasts and Dividend Forecasts

for the Fiscal Year Ending March 2021

Asante, Inc. announces its consolidated business forecasts and dividend forecasts for the fiscal year ending March 2021 (April 1, 2020-March 31, 2021) as follows.

1. Consolidated business forecasts

  1. Consolidated business forecasts for the six months of the fiscal year ending March 2021 (April 1, 2020-September 30, 2020)

(Million yen)

Net

Operating

Ordinary

Net income

Net income

attributable to

per share

sales

income

income

owners of parent

(yen)

Previous forecasts (A)

-

-

-

-

-

Current forecasts (B)

7,292

981

1,036

661

53.60

Increase/decrease (B-A)

-

-

-

-

-

Percentage change (%)

-

-

-

-

-

(Ref.) Previous results

8,238

1,772

1,783

1,201

97.32

(FY3/20 2Q)

(Non-consolidated)

  1. Consolidated business forecasts for the full-year of the fiscal year ending March 2021 (April 1, 2020-March 31, 2021)

(Million yen)

Net

Operating

Ordinary

Net income

Net income

attributable to

per share

sales

income

income

owners of parent

(yen)

Previous forecasts (A)

-

-

-

-

-

Current forecasts (B)

13,762

1,338

1,385

841

68.18

Increase/decrease (B-A)

-

-

-

-

-

Percentage change (%)

-

-

-

-

-

(Ref.) Previous results

14,432

2,239

2,380

1,580

128.06

(FY3/20)

(Non-consolidated)

(3) Reasons for disclosure

The business forecast for the fiscal year ending March 2021 had been undetermined because it is difficult to reasonably estimate the impact of the COVID-19 pandemic. However, economic activity is slowly being resumed as the State of Emergency has now been withdrawn. Accordingly, we announce our business forecasts based on the results of operations for the first quarter and information currently available to management.

In the first quarter, we refrained from making face-to-face sales calls on new customers at all our sales bases for a certain period to prevent the spread of COVID-19. Although we have now steadily resumed customer calls following the withdrawal of the emergency declaration, sales activities are restricted due to weak consumer sentiment and caution against the spread of infections. This is likely to affect our business performance.

The extent of the spread of COVID-19 and the time required to contain it is uncertain. Therefore, the above forecasts are calculated based on the assumption that the impact of COVID-19 will continue to a certain extent during the current term but ease gradually. Moreover, we do not expect a second declaration of the State of Emergency that would significantly restrict social activities and significantly impact the economy.

As stated in "Notice of Acquisition of Shares of Heartful Home Co., Ltd. (Making into Subsidiary)" dated May 19, 2019, Heartful Home became our subsidiary. As a result of making the company a subsidiary, Asante will adopt consolidated accounting from the second quarter of the fiscal year ending March 2021.

2. Dividend forecasts

(1) Details of the dividend forecast

Dividend per share

End-2Q

Year-end

Annual

Previous forecasts

-

-

-

Current forecasts

30.00 yen

30.00 yen

60.00 yen

(Ref.) Previous results

30.00 yen

30.00 yen

60.00 yen

(FY3/20)

(2) Reasons for Dividend Forecast

The dividend forecasts for the fiscal year ending March 2021 had been undetermined as with the business forecasts, but we announce the dividend forecasts based on the above business forecasts. Our basic dividend policy is to maintain stable dividends while comprehensively taking into account the need to strengthen its corporate structure and increase internal reserves, in order to return profits to shareholders as our top priority.

The business forecasts for the fiscal year ending March 2021, as mentioned above, are expected to fall below the previous year's results. However, as a result of comprehensive consideration based on the company's liability to the shareholder and the basic policy of the distribution policy, the forecast for the interim and end of the year will be 30 per share, the same amount as the previous year's results. As a result, the annual dividend forecast is 60 yen per share.

*The above business forecasts and dividend forecasts are based on information currently available and certain assumptions deemed reasonable. Actual results may differ from these forecasts due to various factors.

Disclaimer

Asante Incorporated published this content on 27 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2020 06:06:08 UTC


© Publicnow 2020
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Managers and Directors
NameTitle
Sei Miyauchi President, Representative Director & GM-Sales
Atsushi Nishiyama Director & General Manager-Compliance
Masami Iishiba Managing Director & GM-Administration
Katsumi Uchida Independent Outside Director
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