FinTech Global Incorporated : Notice regarding changes to fiscal 2023 consolidated performance forecast
July 18, 2023 at 01:20 am EDT
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UNOFFICIAL TRANSLATION
The official press release is in Japanese.
Company Name:
FinTech Global Incorporated
Representative:
Nobumitsu Tamai, President and CEO
Stock Listing:
Tokyo Stock Exchange Standard Market
Stock Code:
8789
Inquiries:
Takashi Senda, Director,
Senior Executive Officer
Tel:
03-6456-4600
Notice regarding changes to fiscal 2023 consolidated performance forecast
Tokyo, July 13, 2023- The Board of Directors at FinTech Global Incorporated has revised the consolidated performance forecast for fiscal 2023 announced on November 8, 2022, as described below.
Particulars
Changes to consolidated performance forecast for fiscal 2023 (October 1, 2022-September 30, 2023)
(Millions of yen, %)
Profit
Net income
Operating
Ordinary
attributable to
Revenue
per share
income
income
owners of the
(yen)
parent
Previous forecast (A)
10,100
1,400
1,400
1,000
4.97
Current forecast (B)
8,500
1,400
1,400
1,500
7.45
Change (B-A)
-600
0
0
500
-
Increase/(Decrease) (%)
-5.9
0
0
50
-
Reference: Previous
fiscal year (ended
9,301
587
540
176
0.88
September 30, 2022)
Reasons for changes
The investment banking business has marked favorable progress in private equity operations that provide broad-based solutions, mainly investment, to address business succession issues, and investment income and income on transaction services related to these operations is likely to exceed initial expectations. However, progress on the sale of small-lot real estate products as well as the start time for promoting real estate development projects has fallen behind the anticipated schedule, which will likely cause revenues to come in below target. Nevertheless, high-profit private equity operations are doing very well, and this should keep operating income and ordinary income on track with earlier estimates, so no changes will be made to these line items.
The forecast for profit attributable to owners of the parent has been revised upward, reflecting ¥190 million in gain on negative goodwill from turning Trinity Japan co., ltd., into a consolidated subsidiary and also reflecting the booking of ¥390 million in gain on sales of shares in Rights and Brands Japan Co., Ltd., as described in "Notice regarding change in status of affiliate accounted for by equity method (share transfer) and booking of gain on sales of shares of subsidiaries and associates," disclosed today, under extraordinary profit, respectively.
Note: Forward-looking statements in this press release, including performance forecasts, are based on information currently available to management and certain reasonable assumptions. Actual results may differ considerably from these estimates due to various factors.
END
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FGI - FinTech Global Inc. published this content on 18 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 July 2023 05:19:09 UTC.
FinTech Global Incorporated is a financial service provider engaged in the investment banking business, real estate business, public consulting business, entertainment and service business. It has four segments. Investment Banking segment is engaged in the investment banking and corporate investment business, including finance arrangement, public finance, financial advisory, asset management and asset investment. The Real Estate segment conducts welfare services business, real estate brokerage, real estate development, real estate sales, real estate leasing. The Public Consulting segment engages in the preparation of financial documents, support for maintenance of fixed assets ledger, comprehensive management plan of public facilities, and formulation support business. The Entertainment Service segment conducts the development, holding, management, operation of the theme park, and eating and drinking business.