Kito : Applies for New TSE Prime Market

News Release (6409 TSE 1)

	September 29, 2021
Company	KITO CORPORATION
President and CEO	Yoshio Kito
Identification Code	6409 (TSE 1)
Contact	Shigeki Osozawa
	Managing Director
	Chief Financial Officer
	TEL: [phone]

Revisions to the Consolidated Business Forecasts

Kito announced revisions to its business forecast made on May 10, 2021, for consolidated sales and income figures for the six months ending September 30, 2021 and those for the whole fiscal year ending March 31, 2022.

1. Revisions to the consolidated business forecast

(1) Period from April 1 to September 30, 2021

		Operating	Ordinary	Net income	Net income
JPY in million	Net sales	attributable to	per share
income	income
		owners of parent
Previously announced forecast (A)					JPY
Annunced on May 10, 2021	25,000	1,600	1,500	1,000	48.73
Revised forecast (B)	28,000	2,400	2,300	1,600	77.97
Increase/decrease (B-A)	3,000	800	800	600	－
Percent change (%)	12.0	50.0	53.3	60.0	－
(Ref) FY2020 1st half results	22,041	1,247	1,213	166	8.14

(2) Full fiscal year from April 1, 2021 to March 31, 2022

		Operating	Ordinary	Net income	Net ncome
JPY in million	Net sales	attributable to	per share
income	income
		owners of parent
Previously announced forecast (A)					JPY
Annunced on May 10, 2021	55,000	5,000	4,800	3,200	155.95
Revised forecast (B)	59,000	5,500	5,300	3,600	175.44
Increase/decrease (B-A)	4,000	500	500	400	－
Percent change (%)	7.3	10.0	10.4	12.5	－
(Ref) FY2020 full year results	51,805	4,457	4,550	2,344	114.29

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News Release (6409 TSE 1)

2. Reasons for the revisions

Our results for the second quarter were solid, owing to economic recovery from the pandemic impact leading a surge in demand for our products, mainly in the US and Europe, much greater than our projections. Having secured that demand, we will revise our consolidated projections upward for both the period up to the second quarter and the fiscal year as a whole.

We project a continuing strong demand trend for the third quarter and onward in the current favorable business environment. However, our consolidated profit adjustment for the year overall remains conservative, as shown in the table, with consideration for uncertain factors such as the rise in costs for materials and confusion in supply chains boosting transportation costs.

Note: This forecast is based on information that is currently available. Actual results may differ from this forecast due to various factors.

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