Komori : Differences between Performance Forecasts and Actual Results for the Second Quarter, and Revised Forecasts for the Full Year(124KB)
October 31, 2023 at 05:38 am EDT
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October 30, 2023
Company name:
KOMORI CORPORATION
Representative:
Mr. Satoshi Mochida
Representative Director, President and CEO
Securities Code: 6349 (Prime Market, Tokyo Stock Exchange)
Contact:
Mr. Iwao Hashimoto
Director, Senior Operating Officer
Phone: (81)-3-5608-7826
The Differences between Consolidated Operating Results Forecast and Actual Results for the Second Quarter of the Fiscal Year Ending March 31, 2024 , and the Revision for Consolidated Operating Results Forecast for the Full Year
Komori Corporation ("KOMORI" or "the Company") hereby announces the difference between the consolidated operating results forecast for the second quarter (cumulative) of the fiscal year ending March 31,2024, announced on May 15, 2023, and the actual results announced today. In addition, the Company has revised its full-year consolidated operating results forecast as follows in light of recent business trends.
1. Revision for Consolidated Operating Results Forecasts
Differences between Consolidated Operating Results Forecast and Actual Results for the Second Quarter (cumulative) of the Fiscal Year Ending March 31, 2024 (April 1, 2023 to September 30, 2023)
(Millions of yen)
Net Sales
Operating
Ordinary
Profit Attributable
Basic Earnings
Income
Income
to Owners of Parent
per Share(Yen)
Previous Forecasts(A)
49,000
300
300
100
1.83
Actrual Result(B)
47,127
443
1,983
1,141
21.19
Difference(B-A)
(1,873)
143
1,683
1,041
Difference(%)
(3.8)
47.7
561.0
1,041.0
(Reference)Cumulative Q2
46,097
2,726
4,097
3,268
59.95
results of previous fiscal year
(2) Revision for Consolidated Operating Results Forecasts for the Fiscal Year Ending
(Millions of yen)
March 31, 2024 (April 1, 2023 to March 31, 2024)
Net Sales
Operating
Ordinary
Profit Attributable
Basic Earnings
Income
Income
to Owners of Parent
per Share(Yen)
Previous Forecasts(A)
102,000
3,300
3,500
2,600
47.69
Revised Forecast(B)
105,700
3,300
4,500
3,100
57.57
Difference(B-A)
3,700
0
1,000
500
Difference(%)
3.6
0.0
28.6
19.2
(Reference)Full year results of
97,914
5,719
6,611
5,716
104.85
previous fiscal year
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2. Reasons for the Difference and the Forecast revision
(1) Differences between Consolidated Operating Results Forecast and Actual Results for the Second Quarter (cumulative) of the Fiscal Year Ending March 31, 2024
Although cumulative sales for the second quarter were 3.8% lower than expected, the yen remained weaker than the forecast, resulting in an improvement in the gross profit margin and an increase in operating income of 47.7%. Ordinary income also exceeded forecast due to foreign exchange gains caused by the impact of the weaker yen. As the result, profit attributable to owners of the parent also exceeded the forecast due to an improvement in ordinary income.
(2) Revision for Consolidated Operating Results Forecasts for the Fiscal Year Ending March 31, 2024
As for the assumptions, the Company has changed the assumed exchange rate previously announced, and the assumed exchange rate for the second half is now 135 yen to the dollar (an increase of 10 yen) and 145 yen to the euro (an increase of 10 yen). The impact of soaring raw material prices has exceeded expectations, and although the increase in selling prices is starting to be reflected in sales, the contribution to profits has been slower than expected. As a result, operating income is expected to be at the same level as the previous forecast. On the other hand, as foreign exchange gains and losses will improve due to changes in assumed exchange rates, ordinary income and profit attributable to owners of the parent are revised upward from the previous forecast.
Note: The forecasts above are based on currently available information, and accrual result may differ from the forecast due to subsequent various factors.
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Komori Corporation published this content on 30 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 09:37:42 UTC.
KOMORI CORPORATION is a Japan-based company mainly engaged in the manufacture and sale of printing equipment, as well as the provision of related materials, finance services and real estate management services. The Company operates in three regional segments. The Japan segment is engaged in the manufacture and sale of securities printing equipment and other printing equipment in Japan, Latin America and Asia, as well as the purchase and sale of small printing equipment, the provision of inks, paper, folding machines, electrical equipment and other equipment parts and printing materials. The North America segment is mainly engaged in the sale of printing equipment in the United States. The Europe segment is mainly engaged in the sale of printing equipment in Western Europe, Eastern Europe and the Middle East, as well as the manufacture and sale of paper printing equipment . The Company also operates in Hong Kong, Taiwan, Singapore, Malaysia and India.