47-10, Honmachi 3 chome, Shibuya-ku, Tokyo Representative: Daisuke Honjo (President)
Notice of Difference between Forecast and Actual Consolidated Financial
Results for the Fiscal Year Ended April 30, 2021
ITO EN, LTD. (hereinafter the "Company") hereby announces that there is a difference between forecast and actual consolidated financial results for the fiscal year ended April 30, 2021, announced on December 1, 2020.
Details are as follows:
1. Difference between forecast and actual consolidated financial results for the fiscal year ended April 30, 2021. (From May 1, 2020, through April 30, 2021)
(Unit: million yen)
Operating
Ordinary
Profit
Earnings per share
Net sales
attributable to
(yen)
income
income
owners of parent
(Common Stock)
Previous forecasts (A)
450,000
12,300
12,100
5,800
45.09
Actual (B)
446,281
16,675
17,029
7,011
55.10
Difference (B-A)
- 3,719
4,375
4,929
1,211
Change (%)
- 0.8
35.6
40.7
20.9
(Reference) Previous year
483,360
19,940
19,432
7,793
61.53
(ended April 30, 2020)
* Differences in earnings per share of Class-A Preferred Stock
Previous forecasts
55.09 yen
Actual
65.10 yen
(Reference) Previous year (ended April 30, 2020)
71.53 yen
2. Reasons for Difference
As of December 1, 2020, when the consolidated financial results forecast for the fiscal year ended April 30, 2021 was announced, the impact of COVID-19 had not yet been resolved, and the timing of its resolution was uncertain, so we assumed that the impact would continue until the end of the consolidated fiscal year.
Although the timing of the convergence of COVID-19 is still uncertain and unpredictable, the Group's efforts to improve operations and reduce overall costs in order to mitigate the impact on its business activities resulted in operating income, ordinary income, and net income attributable to shareholders of the parent company exceeding projections by approximately 4.3 billion yen, 4.9 billion yen, and 1.2 billion yen, respectively.
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ITO EN Ltd. published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 06:03:03 UTC.
ITO EN, LTD. is mainly engaged in the manufacture and sale of tea and drinks. The Company has three business segments. The Leaf and Drink related segment is engaged in the manufacture and sale of green tea, oolong tea, and barley tea. In addition, this segment also plans and develops beverages, purchases and sells finished products, purchases raw materials for fruit juice and coffee, processes dairy products, such as yogurt, and cultivates tea leaves. The Food and Drink related segment operates and franchises restaurants of specialty coffee in Japan. The Others segment is involved in the manufacture and sell of supplements in Florida.